01:29:54 · Jordi Hays, John Coogan, Will Manidis, Tyler
[01:29:54] S0: It is, they're doing their first... Final Lap is a new kind of car auction. Mhmm. And instead of, you know, like on... What's that's Charlie up to over here. You're sneaking a little... [01:30:06] S1: Sneaking an upper decky. [01:30:11] S0: Don't mind if I do myself. Yeah. [01:30:16] S1: Some couple of lip pillows. You know, what's wrong with that? [01:30:20] S0: What was I saying? [01:30:22] S1: You were talking [01:30:22] S3: about final. [01:30:23] S0: So anyway, so I'm very excited about this concept. I had created a I had created a deck for kind of like TBPN for auctions prior to... [01:30:31] S1: And the format worked for car for car dealership guy. Like, he he had been doing... [01:30:37] S2: Oh, well, I wasn't not not... But that's different. [01:30:39] S0: But what I [01:30:39] S1: was saying... It [01:30:40] S0: still works. Auctions are incredibly entertaining Totally. Whether you're bidding or just watching. Yeah. Right? It's like especially if you're bidding it it it... Something comes... Washes over you and... [01:30:52] S1: Blood memory. [01:30:53] S0: Yeah. And and something like that. [01:30:55] S1: Yeah. [01:30:56] S0: And so what what Marshall is doing, right now you basically on Bring a Trailer Mhmm. You have like some... I think it's a week that the car's up and then and then all the action happens in the last twenty minutes or something [01:31:09] S1: like that.
01:31:09 · John Coogan, Jordi Hays, Will Manidis, Tyler
[01:31:09] S1: like that. [01:31:09] S0: And so what he's saying is like we're basically gonna have starting minimum bid but then there's... I think they're like three minute auctions. Oh, interesting. And so... And you know, bid... Each new bid adds like another minute or something like that. [01:31:21] S1: Cool. Yeah. [01:31:22] S3: So it's really... [01:31:22] S0: So basically condensing it down and so they'll they'll run through a bunch of cars in the span of I think one hour. So anyways, cool concept. I'm sure he'll have great execution. [01:31:32] S1: Yeah. [01:31:32] S0: And yeah, I'm excited. The first auction is gonna be 10AM Pacific next Thursday. So keep an eye out [01:31:41] S1: for that. Put it on the calendar. Let me tell you about Railway. Railway is the all in one intelligent cloud provider. Use your favorite agent to deploy wireless service, get this, and more while Railway automatically takes care of scaling, monitoring, and security. And our next guest is here. We got David Senra, host of David Senra. David. To see you. [01:32:00] S2: My bad guys. You're good. I'm a little late. [01:32:03] S1: You're good. You're good. [01:32:04] S0: You're good. Where are you? [01:32:05] S1: At least you didn't keep the red ones waiting. [01:32:07] S2: Can I tell you, I'm in the room that you guys gave this hilarious talk at? I don't know if you remember about Heredicon about that... [01:32:15] S1: Cool. Yeah. [01:32:17] S2: Should take as much I think PEDs as possible. Yeah.
01:32:17 · Tyler, Jordi Hays, John Coogan
[01:32:17] S2: Should take as much I think PEDs as possible. Yeah. [01:32:20] S0: It was a bit of a joke. It was a bit of a joke. We were gesture maxing. It's almost like we've been the the class clowns of the industry our whole Two [01:32:30] S1: years now. [01:32:30] S0: Going on more like more like 20. [01:32:33] S1: Yeah. 20. [01:32:34] S2: The funny part was that most people in the audience didn't get that it was a joke. [01:32:38] S1: Oh, yeah. No. We we we got some people coming up debating us, all sorts [01:32:41] S2: of stuff. [01:32:41] S0: Yeah. We had people coming up like trying to make the case for Ayahuasca. Ayahuasca is performance enhancing. No. There [01:32:48] S1: was a girl There's a in front row talking [01:32:52] S2: about everybody should do ketamine because Elon and I'm just like, oh, no. No. [01:32:57] S1: We don't like that. No. Still well. [01:33:01] S0: Anyways... [01:33:01] S1: Give us some give us some [01:33:03] S0: more about our characters than than Matt. I I [01:33:09] S2: put on the stream today and I just started dying laughing. [01:33:12] S1: Go ahead. That's what we're here for. Honestly, [01:33:17] S0: when we were set up in the... This morning, John and I were facing each other and every time I would look over and even catch a single glance, I would start laughing so hard that the the the full mask started like peeling off and so I just didn't look at him basically for like three hours. [01:33:33] S2: You're so ridiculous. I hope you guys filmed it like you did last year. [01:33:36] S1: You had a great time lapse. We did. We got
01:33:36 · John Coogan, Darren Rovell, Tyler, Jordi Hays, Will Manidis
[01:33:36] S1: You had a great time lapse. We did. We got [01:33:39] S4: we got [01:33:39] S1: tons of stuff. It's great. [01:33:42] S2: Hold on. I should have my phone on D and D. This is bad. Okay. Sorry for that. Oh. [01:33:48] S1: Yeah. You're [01:33:49] S0: good. You're good. Alright. It's Friday. [01:33:51] S1: Yeah. We're hanging out. [01:33:52] S3: Alright, guys. [01:33:55] S2: So what do you wanna... What was the question though? The original question before I started laughing about your... [01:34:00] S1: Favorite quote from the two goats. [01:34:02] S2: Well, no. Here's actually an [01:34:03] S0: interesting question to kind of, know, sort of ease into it. I'm curious like, you know, Buffett and Munger, like, their careers are... And their partnership is so like, it's like the most aspirational partnership and and careers that I think most of us can imagine. Right? Just like doing it together until the very end. Like Yeah. So... And I'm almost wondering like, what do you think the longevity of of... Like, do you imagine in the same, you know, recording podcasts in the same way that they do their annual meeting? Like, when you're in your nineties? Or do you think you're you're gonna get to the point where you'll just have those conversations offline with friends?
01:34:51 · Tyler
[01:34:51] S2: Well, okay. So there's a couple interesting things there. When I went to Munger's Health for dinner right before about six months before he died, I... We asked him like, hey, how often do you talk to to Buffett now? And he says, never. And his point was that they talked, they used to talk on the phone, you know, every day for hours. And they got to the point where they just understood how each other thought so deeply. He'd be like, Buffett could like simulate picking up the phone to Munger and ask him a question, he's already gonna know what Munger is gonna say. Crazy. I'm very interested in like building I'm very interested in like building friendships and partnerships. Hold on, I'm at a bar, and they're like, throwing crazy pipes right now. I'm drinking water though. I'm not drinking. But yeah, think, I mean, you guys are definitely in that camp. I think we have a handful of mutual friends that, know, we've been friends for a while, and I hope we have like a... We have deep friendships, we're doing life, we're doing business, you know, together till we die. That was his... I went there, it was me and two other founders that were in their 30s at the time. And Munger's main advice was that your job now is to build a seamless web of deserved trust, because that's one of the things he said. He goes, everybody knows that I was 28 when I met Buffett, and he was 35. He goes, but they don't... He doesn't know there's like a... There's a group of guys, and we did deals and worked together, you know, for the rest of our lives. And I think at that point that I was talking to Charlie, I think he was... Him and Buffett might have been the only one that were still alive, maybe one other guy. But most of it passed on. But he said, you know, that's what really made life valuable. But that was I think one of the main lessons I took from a personal lesson. Obviously, do business with these people, but I think that's the most important thing. We talk about all the time, like we're all going to make more money than we can spend in our lives. So like what really matters is like the relationships that we're building. One of our mutual friends has a great line that your life is your relationships, and I think Munger would would agree with that. And Buffett too.
01:36:40 · John Coogan, Jordi Hays, Tyler
[01:36:40] S1: Yeah. No. I love it. [01:36:44] S0: It's... You think it's like, why do you think they never why do you think they never were like, let's live in the same place? [01:36:52] S2: I mean, you guys both live in Southern California. Would you pick that over? Would you rather live in Omaha, Nebraska? [01:36:58] S1: So Munger had [01:36:59] S2: Yeah. He grew up... They both grew up in Omaha. They both worked at Buffett's grandfather's grocery store. They both fucking hated working for Buffett's grandfather's grocery store. And then he comes out, I think... I forgot the exact biographical details, but he comes out, I think they studied meteorology in Southern California. And he's just like, you know, very similar, you guys had Jimmy Iovine on your show a few weeks ago. And Jimmy Iovine tells this great story too, where he had never been on a plane before, never never stayed at a hotel, never left Brooklyn. And he's like 19 or 20, I think he might be 20 years old at the so I worked for John John Lennon flies him out to the Beverly Hills Hotel. Immediately, you know, it's December, it's like 70 degrees, walks downstairs to the doorman, he goes, hey, you regular people live here? And the doorman's like, do mean? I'm a regular person, I live here. He goes, you got docks here? He's like, what do you mean docks? He goes, dad's a longshoreman, works for the docks, he unloads the boats. Does that happen? Goes, port at Los Angeles, one of the biggest ports in the world. Goes back upstairs, calls his mom. [01:37:52] S1: He's like, how did