02:17:31 · John Coogan, Sean Frank, Jordi Hays
[02:17:31] S1: it's like, what's what's the incentive? Interesting. Yeah. Yeah. But you look, I mean, you [02:17:36] S6: could like, Richmont owns Cartier. Cartier is having a great time. You know, they own Van Cleef. Van Cleef is still having a great time. But those are both of those are way more true luxury brands than an LVMH. [02:17:45] S1: Yeah. So Have we hit peak, TEMU, and Sheehan? [02:17:49] S6: Oh, yeah, dude. I mean, Trump got rid of section three twenty one, That De totally crushed those brands. It's like, I I mean, you know, Tmall [02:18:00] S0: Where do you go if you wanna shop like a billionaire? There's nowhere else to go. [02:18:05] S6: Yeah. Fuck. You're right, man. [02:18:08] S1: I don't know. [02:18:08] S6: Bridge.com. No. Look, mean, they're still huge. They they run a lot of ads. And like, Team Moose publicly traded under like a PDD or whatever. So they have a huge business in Latin America. They have a huge business in Southeast Asia. Mhmm. But like, their whole arbitrage was just flooding into America with with low cost Direct [02:18:28] S1: from the factory. Right? [02:18:29] S6: Yeah. And it just got kinda [02:18:30] S1: that kinda blew up. It's gone. Interesting. Have you been surprised that live shopping has been slow in America? No one's predicting this from China. Oh, if it's big there, it's gonna be big here in a year. And it feels like it's been very slow. But what what what have you seen in the live shopping?
02:18:30 · John Coogan, Sean Frank, Jordi Hays
[02:18:30] S1: that kinda blew up. It's gone. Interesting. Have you been surprised that live shopping has been slow in America? No one's predicting this from China. Oh, if it's big there, it's gonna be big here in a year. And it feels like it's been very slow. But what what what have you seen in the live shopping? [02:18:47] S6: Yeah. Look, people are very excited about whatnot. Yeah. And they are putting up impressive GMV growth. Mhmm. But it is very much dependent on, like, the trading card bubble. It's like that's that's what it is. [02:18:58] S1: Yeah. Yeah. Yeah. [02:18:59] S6: So it's live shopping in [02:19:00] S0: America. Yeah. This is what I was saying yesterday. It's like, it's effectively I'm not gonna call it gambling, but there there's some speculation happening on, there's a there's a massive, I would say, spec you would wanna figure out what percentage of GMV is driven by speculation, and I would expect that it's significant. [02:19:21] S6: Yeah. Like, people aren't going on there to buy their everyday essentials. Right? They're going on there for the excitement. Like, it is an option. [02:19:26] S1: Whereas in China, there's live shopping where you can buy a tomato. And that's just not happening. [02:19:30] S6: And women are buying dresses and it's the whole thing. [02:19:32] S1: Yeah. Of course, the whole person put picking up one piece of clothing, put it down, put it on the next one. Like, we've seen that video and we have yet to see that in America. Yeah. Why is that?
02:19:32 · John Coogan, Sean Frank
[02:19:32] S1: Yeah. Of course, the whole person put picking up one piece of clothing, put it down, put it on the next one. Like, we've seen that video and we have yet to see that in America. Yeah. Why is that? [02:19:42] S6: I think I mean, dude, Americans can't watch anything at the same time. Right? Like, we are also, like, consumption based and like like on demand everything. Okay. Right? Yeah. Everything is catered to us all the time. Yeah. I just don't think there's any value that actually being live. We're we're doing TikTok shop lives Yeah. And we drive like 3 to $400 in in revenue per hour that we're live. Mhmm. So it's like some people are buying stuff when it's live, but the real value is like getting all that content and just running it whenever you have four hours at night to to go log on to something. Yeah. Right? And I really just think it comes down to there's a lot more people in China and they're spending a lot like, the the screen time per person is still way higher over there. [02:20:20] S1: Yeah. And just, you know, it developed over there. It's more of like a native sport. Yeah. Have you looked into advertising on Netflix? [02:20:28] S6: We have looked at it. The CPMs are not very good. [02:20:32] S1: Okay.
02:20:32 · John Coogan, Sean Frank, Jordi Hays
[02:20:32] S1: Okay. [02:20:33] S6: And the the here's the thing is we buy a lot of TV ads Yeah. And we buy them like like directly through the network. So like, you know, Fox will have something like we just got an email for the World Cup and it's like, you could run a thirty second spot during the World Cup, The USA game, and it was like a $25 CPM. Wow. Right? Yeah. And Netflix, they you'll get a lower tier of consumer because it's price gated. Right? It's the lowest tier of consumer who gets the ads. Yeah. Yeah. And they want a $45 CPM. [02:20:58] S1: Yeah. Yeah. [02:20:58] S6: Right? It just it does make a lot [02:20:59] S0: of sense. [02:20:59] S1: Yeah. That makes a lot of sense. What about infomercials? Have you ever thought of running one? It's like a full hour, middle of the night type of thing. [02:21:10] S0: I've That's the new meta. [02:21:12] S1: Wanted to get I wanted to it feels like a bucket list item on an entrepreneur. [02:21:17] S6: Well, you have the studio, bro. Let's shoot one. [02:21:18] S1: We should shoot one. [02:21:21] S0: I'm I'm I'm down to be [02:21:22] S1: One hour pitching you a three hour live stream. I interest you in hitting the subscribe button, potentially leaving us five stars. [02:21:30] S0: I I wanted a hyper personalized infomercial though. Oh, just, like, falling asleep on their couch. It's 1AM, and you're like, hello, Sean.
02:21:30 · Jordi Hays, John Coogan, Sean Frank
[02:21:30] S0: I I wanted a hyper personalized infomercial though. Oh, just, like, falling asleep on their couch. It's 1AM, and you're like, hello, Sean. [02:21:38] S1: I I I feel like I've seen some of those YouTube experiments ads where they they they didn't gate it. And so if you didn't click skip, you'd wind up watching like twelve minutes of an advertisement. [02:21:48] S6: Oh, dude. You know, I IKEA did that but it was like twelve hours. [02:21:51] S1: Twelve hours. Dude is like, [02:21:52] S6: we're gonna read every product we have. Well, please click skip. [02:21:55] S1: Fantastic. But you've never done an infomercial? [02:21:58] S6: No. But I I met a guy one time who made like, you know, his whole business, $80,000,000 a year was selling hoses on infomercials. Yeah. And he's like, yeah, I have a great hose and I just sell it on infomercials. Yeah. Then he gets into Home Depot or whatever. Yeah. So look, you can make a lot of money in a lot of different ways. [02:22:10] S1: Yeah. Yeah. But you gotta you gotta focus a little bit. You gotta get thing going. [02:22:13] S6: Yeah. Right now, I'm trying to sell like a bunch of random accessories to men. Sure. And my goal is to get to 1,000,000,000 a year in annual revenue. Yep. I'm like three or four years away. And if I do that, my life's good. [02:22:23] S1: Fantastic. Well, thank you so much for coming on the show. [02:22:26] S0: You wanna close it out with us?
02:22:26 · Jordi Hays, John Coogan
[02:22:26] S0: You wanna close it out with us? [02:22:28] S1: Yes. Alright. We got one last advertisement. It's for MongoDB. What's the only faster than the AI market? Your business on MongoDB. Don't just build AI. Own the data platform that powers it. Thank you so much for coming on the show. Leave us five stars on Apple Podcast and Spotify. Sign up for newsletter, tbpn.com, and we will see you tomorrow at 11AM. Sharp. Goodbye.