- Thank you so much.
First thing I wanna say is I love you back.
First thing I wanna say is clearly my mother snuck in here,
because that fucking intro was ridiculous.
I'm sorry you had to sit through that.
I don't have unlimited time, so I wanna get right into it.
A couple things I wanna talk about.
First and foremost, I am so fired up to be here.
I've never spoken in this market,
so thank you so much for the warm welcome.
To be very frank, the thing that I'm thinking most about,
when I think about the lineup of speakers,
is why are you here.
To me, when you speak, what matters most
is can you bring value to the audience.
So I've been thinking quite a bit about this speech
of like what can I really touch on
that isn't available for free online,
that isn't something you've seen or heard before
is that's a difficult challenge
in a world where, very honestly,
there's not a lot that I believe in.
There's only four to six to nine things
that I really trade on
and those are the things that I wanna really reinforce.
First and foremost, the biggest thing
that I wanna make sure that everybody understands
more than anything ...
I just had a really fun strategy session
with a bunch of people
and when I think about what it was
that we just talked about for the last couple hours
is the fact of the matter is I truly believe
that every single person here today,
including myself, are grossly underestimating
how special today is,
how special this era of the internet at maturity is,
how special the opportunity is.
What is remarkable to me this morning
is that there is never ...
Now, if you are somebody who watches
cable news all day, you may not agree with me,
but it is my absolute deep belief
that this is the absolute greatest era
to be alive in the human race.
And I'll tell you why.
This internet thing,
it's bigger than you think.
This internet thing,
when our great, great grandkids judge us
and how we navigated through this era,
this internet thing is a much bigger deal
than we've been able to comprehend.
The internet, not Facebook, not social media,
not Instagram, not podcasting,
the internet is the single biggest invention
that has ever happened to the human race
in the first couple decades of it,
are struggling to understand how big of a deal it is.
What I am completely fucking blown away by
is that there is nobody
who is a gatekeeper to the game anymore.
What is amazing to me
is that our great, great grandparents;
our great grandparents and our grandparents would laugh
at the shit that we cry about.
The amount of people
that get upset that Instagram and Facebook
changed their algorithm and cry about is fucking ludicrous.
Facebook and Instagram are free
and we sit and cry about the change in the algorithm.
Here's where I'm at.
For this entire room,
the one thing that connects all of us,
whether you're an entrepreneur,
whether you work somewhere,
whether you're fucking thrilled,
whether you're devastated,
the one thing that connects all of us
is that for us to take the step
in what we're trying to achieve,
whether it's financial, whether it's legacy,
whatever it may be, the one thing
that connects us is we have to trade on attention.
The thing that I desperately want everybody
to leave this talk with
is understanding that attention
is just like real estate
is the gateway drug to everything you want, period.
Before you can tell me how great you are,
how awesome what you're selling is,
you need my attention.
Before you can tell me anything,
you need my attention.
What everybody in this room needs to wrap their head around
is that this device owns the attention of our society.
You may be upset about it;
you might be sad that when you go out,
people aren't talking to each other;
you can do whatever the fuck you want,
it doesn't change the fact that this
and if you are sitting in this room today
and you have not figured out how to put written words,
audio or video into the platforms that sit on top of this,
you are fundamentally irrelevant.
when you think about sitting here and standing here,
look, I have no interest in inspiring you for an hour
and getting you pumped and then next Thursday
you don't do shit about it.
That's not interesting to me.
even with all these faces in the audience,
I'm looking for one person
who understands that this is such a remarkable time
and that you need to go harder at it.
Let me tell you the thing that upset me most in my intro.
I'm extremely proud, maybe more than anything,
that I went into my family business
and built my family business for my family.
I love when people try to raz on me,
easy for you, you were handed three million dollars,
when they don't know my story.
What I was handed was my dad had a liquor store
doing 3 million dollars a year on 10% profit.
What I did was worked my face off 17 hours a day,
from 22 to 34, building my dad's business for my dad
and my mom and at 34 years old,
I left Wine Library day to day
with 0% equity in Wine Library
and no money in my bank.
If you're a child of an immigrant or great parents,
nothing is better than settling the score with your parents.
You can't zoom in, but the goosebumps,
can you just confirm this.
Real fucking goosebumps.
Meanwhile, when the intro came up,
the gentleman said, "He grew his dad's business
"from 4 to 60 million."
Nice solid accomplishment,
also my greatest regret.
If I could do it again, businesswise,
I would have built Wine Library
from a 4 to a 250 million dollar business,
Let me tell you why and let me tell you
why it's the only thing you need to pay attention to
Let me break this down.
Get your fucking attention up right now.
I don't know if you like taking notes.
I don't know how you like to consume it,
but I promise you what I'm going to explain
for the next three minutes is the fucking game right now.
built my dad's business from 4 to 60 million dollars
The business was doing 4 million dollars,
400,000 in profit before expenses.
We literally had no money.
You pay people, you pay your rent,
My first year marketing budget
in building Wine Library was $14,000
I was able to build it
in such a big way for three core reasons.
In 1996, nobody had a website.
That was a good idea.
Number two: I started an email newsletter.
For the youngsters in here, it's hard to understand,
but you have to understand people didn't even know
their own email when they would come into the wine store.
I'd ask them, "You wanna be in the email list?"
They'd be like, "Yeah."
I'm like, "What's your email?"
They're like, "firstname.lastname@example.org".
I'm like, "No fucker."
But I started and email newsletter.
How many people here have done
email marketing in their career.
I had 91% open rates on my newsletter in 1997 and 8.
Not because it was such good content.
All it said was buy this fucking Merlot.
It was because nobody else was emailing
and I bought that real estate cheap,
because nobody else was doing it.
And then the final point of
why I really exploded my business
was the day that Google AdWords came out,
I bought Google AdWords for my dad's business,
so I was the first result for wine
and cabernet and Napa Valley.
And while everyone else was doing direct mail
and advertising in magazines and radio,
I was winning Google, which went on to become Google.
Let me now explain to you the number one mistake
every person in this audience is making right now,
including me, who's supposed to be fancy at this.
Every person in this place
is not producing enough content for social media
and is not spending enough money on social media ads.
Every person in here is not producing enough content
and not spending enough ad money on social media.
Because you have to understand what's about to happen.
Let me explain it real simple.
Right now, buying ads on Instagram and Facebook,
which is something everybody in here should be doing
don't be that person who has run Facebook and Instagram ads
and not gotten results and deemed it not working.
The ROI of a basketball, to me, is zero.
The ROI of a basketball to Lebron is billions of dollars.
Let's be honest with each other.
How many people here have run
Facebook or Instagram ads and it hasn't worked.
I want everybody to see this.
Do this for everybody.
Don't sit down yet.
Everybody look around.
All these people suck.
I'm kidding; I'm kidding.
Sit down; sit down.
please understand this truth.
Everybody that stood up,
and I'm not joking,
you haven't made Instagram and Facebook ads work for you,
because you either hired somebody who's not good at
or you're not good at it.
This debate is not a debate.
They work and they work so well
so scary that the fucking founder
has to sit in from of Congress.
I'm laughing at people.
People go out to dinner with me,
old CEOs, and yell at me for the first 30 minutes
that Facebook's killing our democracy
and then the next 30 minutes
tell me that it doesn't sell shit.
Like everybody's so scared of it,
yet you don't think it works to sell shit.
Guys, this is the most powerful ad product
we have seen since the early days of television commercials.
So when I see that many people stand,
please get educated.
You have to understand why it's so awesome.
You can run 25 and 50 dollars at a time,
to get a sense of if it's working.
Also, the biggest mistake in this room
between the business of branding and selling.
The number one basic issue in business right now
that I've been blown away by, because it came natural to me
and I'm like oh fuck, wait a minute,
people are confusing branding and selling.
The amount of people that just stood
that it didn't work for,
they spent money to make a transaction.
They stood up and said it didn't work.
What they don't realize is
first of all the creative is the variable.
If I stand up here today, I've got all of your attention.
If this keynote sucks shits, I've accomplished nothing,
I've accomplished negative impact.
If you're disappointed of like, eh, he's not that good live;
eh, he's stupid; eh, eh, I lost.
This was a waste of time.
That's just like an ad.
You can get in front of me
at a good price, but if you're trying to sell me too hard
and you come off like a douchebag,
If you haven't convinced me
why your banana jelly is better than somebody ...
Jesus Christ, where does this shit come from?
What the fuck is banana jelly?
Somebody's gonna start a fucking banana jelly company here,
If you haven't convinced me that your banana jelly
is better than my competitor's banana jelly,
then you're not gonna buy it.
Please understand this.
Let me break it down very simply.
It's why I set it up as the most important thing.
Everybody here needs to spend money,
whether you're a lawyer, financial advisor,
sports trainer, nutritionist,
if your company paves peoples' fucking driveways,
you need to run Facebook and Instagram ads.
It is the most underpriced attention in our society
and let me tell you why.
As I stand here today and regret
not spending more money on Google AdWords,
everybody in here will regret; in four years, I promise you,
if nothing else, I'm being very selfish right now
I'm being very selfish.
I'm making a very big deal
that you're not spending enough money in this platform,
because I want you to remember in four years,
when you don't spend enough money in this platform
and you actually have your eureka moment
and realize how right I was, I want you to remember,
fuck, I should have listened to Gary Vee in Florida.
Right now, Facebook and Instagram ads
run between three and eight dollar CPMs.
Between 3 and 8 dollars,
you can get in front of 1,000 peoples' screens.
You know how you roll through your screen.