- [Homie] How can you decide what to do
when you're good at a lot of stuff?
- You pick one.
- [Homie] So you don't waste your time.
- You pick one.
- [Homie] Well how do you know which is the right one?
- You don't.
(laughter)
(clicking)
- How do you deal with the unknown?
- By recognizing I have no choice.
I think it comes down to perfection
and like trying to make the right, perfect call
and I think that the right, perfect call
about nine out of 10 times is the fastest call.
So I tend to not overthink at all.
I'm very intuitive and most of my business mistakes
have been to act too quickly and then have to bail out.
I've found that speed trumps everything.
Too many people are crippled by the right hire,
by the right meeting, I say,
work harder, work more efficient,
make more 15 and 30 minute meetings
that leave you more time to do more things
and create more opportunities and don't be crippled
by choosing the right opportunities or not.
(hip hop instrumental)
I believe one of the most fascinating excuses in life
is that I'm so good at so many things
that I don't know which one to pick.
So many of you are not taking action
'cause you overthink it, you overthink it, you overthink it.
I think the thing that bothers me is that
people are crippled by their options
and then actually aren't doing anything in parallel.
They're lolly gagging while they decide.
If you're so good at so many things,
you'll pick one, you'll be good at that
and then you can do a bunch of things.
I'm doing a bunch of things.
You need to be doing, you need to be executing.
So if there's three to four
tangible things going on in your mind,
you need to make sure your internships, your free time,
and whatever you can do to let you taste them
and get context around them is what really matters.
I always say deploy your resources
that you can afford to lose.
A lot of you don't have the dollars.
I used to not have the dollars,
but I had my time.
Taking action is, especially if it doesn't cost you
top money and it's just time,
is always a better answer than pondering or thinking
or trying to decide if this is going to work.
You don't know and one of the smartest things
I do as an entrepreneur and business person,
is I do things so I can understand
whether they work or not.
(hip hop instrumental)
There was never a day in my life
where I didn't have something
that I call the 80% of what I do.
What I think you need to figure out is
you gotta create at least one burger.
I've got four, right?
You need to have one.
You can go and have side dishes
and if your meat, if your steak is perfect,
you'll always be able to absorb the losses
because there's smaller losses.
I think a lot of people just eat
the potato or the pickle or the onion.
Like I have the burger, Wine Library, Vayner Media,
my personal brand, investing, those are my burgers.
Because what the burger does is
it allows you to create the wealth creation
or the financial stability that allows you to go flirt.
And then when something over here becomes bigger,
you can turn that into the main part
and that could be come the steak.
Too many people have all side dishes and no steak.
(hip hop instrumental)
- Do you ever get anything wrong?
What do you do when you make a mistake?
- I get everything wrong, it's just that I can't recall it
because one it's wrong, I'm moving one to the next thing.
I passed on Uber twice.
When they were raising money at a $4,000,000 valuation,
I passed even though Travis is one of my boys
and I think is one of the best entrepreneurs in the world.
Had I wrote a $25,000 check into that company
like I did the other companies,
it'd be worth $300,000,000.
- [Man] Jesus Christ.
- And you have to understand,
this is my homie, he's acknowledging my book.
That's what you have to do when you're playing the game,
that's what you have to understand
when you're an entrepreneur,
those misses are gonna come in my career.
I look at losing as a positive,
mainly because everybody here doesn't like losing
'cause they're worried what other people
think about their loss.
I don't care what you think about my losses.
My L is my L.
You're more than welcome to leave a comment
and clown on me when I fail on something
when something doesn't work out,
I have good news for you.
I don't give a what you have to say.
I swear on my kid's health, I'm obsessed with losing.
I love losing.
I love losing 'cause I know exactly
what you're thinking about my loss
and I can't wait to stick it in you face when I come back.
(audience cheers)
Be more efficient with what you do
to allow you to do more things,
then you don't have to worry about the
subjective and non-controllable
like knowing what's good or great.
That's the recap.
(hip hop instrumental)