And when you start understanding those variables you start actually making results happen i'm blown away by the world that i live in today for a lot of you that don't know i run a 750-person firm called vaynermedia i'm leaving here right now if there's talk going to london we just opened a london office and what we do is we work.
With the biggest brands in the world under armour and chase and toyota and pepsi and the amount of money that is wasted just just watch what i'm about to show you and i think we can all agree there's not this is not a 14 year old girl crowd raise your hand if you now when you watch television.
Fast forward every single commercial or watch netflix or hbo go if you when your favorite show airs you don't watch when it airs you watch it now on your time raise your hands i just want everybody look around keep them up especially front row look at this let me just give you the punch line.
Everybody and how many people here if they're still using dvr tivo fast forward every single commercial when given the option and so even if something crazy like the remote control falls off the bed every person here.
Grabs this anytime that there is a commercial yet 80 billion dollars is spent by the biggest brands in the world to make 30 second videos of a jeep going up a hill or some guy grabbing a beer or some lady with a baby using some oil 80.
Billion dollars it is completely not practical it is broken and it is the reason that 95 of the fortune 500 biggest brands in the world have declined in market share over the last two years here's what matters to everybody in this room all that money.
All that money is coming into our ecosystem once they start calibrating how bad it actually is when coca-cola and bmw and the biggest ibm start taking that money from page 147 of sports illustrated and from a commercial of guiding light.
And they take those dollars and they put them into facebook and instagram the price of our attention is gonna go through the roof so i sit here today and plea and i plea that if you are not activating your marketing in that ecosystem you are going to miss the golden era of facebook.
Marketing and you will regret it and people run around here there are people in this room that run around here with an opinion on facebook marketing and they've never deployed a single ad on it there are people here that run around and have opinions on instagram marketing and have never deployed a single penny.
On it period also we sit here today in early november 2016 when the greatest marketing arbitrage besides facebook advertising is influencer marketing you may not like it you may not think it's cool that people.
Have detox tea pictures in their instagram or that waste thing that freaks me the out but it doesn't take away the fact that right now even in a b2b environment that if you took the hours and mapped the people that had 400 followers 500 followers.
I'm gonna go back into practical details you go into instagram you go into search you start searching hashtags for your business sas right whatever your industry's about and you start finding people that post you start building a database and then you email.
Them one by one with context we already made a pledge don't break it already and you ask them to promote your and the price points are incredibly underpriced for the amount of attention you get and the business development opportunities yet we continue not to do that meanwhile what's overpriced.
Twitter's overpriced it breaks my heart a lot of you guys know that twitter was my coming out party it is absolutely the platform that put me on it's not fun for me to sit here and say that it's overpriced but the problem is twitter has a fire hose problem there's so much and we don't populate it.
It's just like email going from 90 to 30 percent and that is a problem and the ads are overpriced and that's just the ecosystem so unfortunately for them they're dealing with what we're dealing with the other thing that's overpriced is all programmatic advertising banner ads.
Are such a mistake for businesses today because there's nobody here going to the right side of dailydaily.org and clicking a banner ad and so we sit here tonight with an ungodly amount of ridiculous marketing tactics and looming ahead of us is so much.
Technology how many people here have alexa voice in their house alexa raise your hand stand up actually let's get the blood going stand up i need a context here has alexa in the home yes i know you're on the screen you're pumped right it's awesome right.
Get up here with me very athletic jesus thank you man it's good to see you good just chill right here i know i'm aware yeah just sit i think okay yeah no no you can do whatever you want you're a big boy i like it do.
Your thing all right man hey man how are you good to see you jesus man you look really young you look good all right i mean that's good but this is way better right free advertising um when you start thinking about alexa and all these other things one of the things that my career has been completely.
Predicated on is the fact that i am willing to take chances on things that aren't mainstream yet because i understand that if i go after social code and if i go after vine and if i go after mcmack and if i go after yak and if i go after all these things that i only need one of those seven to actually hit.
Snapchat instagram to win that bet we have enormous fear in this room to i have to wait or let's wait till it's big or what if i waste my time awkward right yeah super awkward you could leave if you want but you can chill too got it will i waste my time on these platforms right will i waste my time on these.
Platforms if it doesn't become big and so one of the other themes that i really wanted to leave here with tonight knowing the demo of this room is we have to have a lot more risk tolerance on new platforms if you're not playing back to details and i know you're taking notes if you're not playing with marco polo and after school.
And house party then you're not there potentially at the platforms that can become the next things at the top of our tongue how many people here let's be really honest let's be really really really honest with ourselves inbound please raise your hand if this is true how many people in this room and i want everybody look around said two and a.
Half years ago three years ago maybe even a year ago that they would never be on snapchat that was stupid and now have a snapchat account raise your hands raise it high higher this this is where all the action is this is where all the action is this is.
The opportunity in this room but we continue to down play we continue to downplay the upside because we fear the risk of being on there and wasting time if you have not achieved what you want to professionally or in life time is the number one thing you've got you need to deploy as much of that as humanly possible that is the asset when.
You have not achieved the things that you want to happen in life and it is because of time that you ever wanted to put into these platforms of worlds that is a massive mistake it's the one asset you have not everybody in this room has money it's true you agree right.
So are you gonna work your face off thank you it's the one thing we have it's the one thing we have because everybody wants to come up with excuses i spend my life reading excuses on social media and my inbox um this i wasn't born that way i wasn't born here this i'm a female i'm.
An immigrant i'm a minority i'm a transgender excuses reality by the way i truly believe those are disadvantages i'm not naive to the shortcomings of this country the problem is nobody cares the market doesn't care so we sit and we dwell and that's what do you think we've been.
Doing for the last month and what we're going to do tomorrow morning we're going to dwell and complain and that's utter defense instead of going on the offense and so we spend unbelievable amounts of time dwelling and wasting our time on dumb like people literally email me and say you're.
So lucky and i wish this was happening to me and then the third tweet or the third instagram post is awesome saturday stayed home and watched entire season of game of thrones we need to start understanding how big this opportunity is because for everybody in this room you will sit back in 20 30 years and regret if you didn't.
Execute in this era and by the way i don't want to hear that this is for 20 and 30 year olds 40 50 60 70. it's an equal playing field if you're willing to be a practitioner and understand the ecosystem that i've been speaking about tonight there's never been a better time look it's very obvious these kind of characters there.
Was no respect for 20 year olds in the business world 20 years ago when i came out but now because of technology there's a lot of organizations that absolutely respect 20 and 30 year olds also what is happening is i'm spending so much time with 40 to 60 year old executives who are dwelling and are.
Upset and tell me dumb like but gary i didn't grow up with this neither did i alice i was 20 before i even was on a computer i didn't grow up with this i figured it out and so i sit there and see completely capable operators that have made it happen for.
The last 20 30 years being crippled by i don't understand how snapchat works it's so confusing we're just filled with excuses we are people are just losing their hunger and then and then by the way let me get really mad for two seconds with my fancy rich friends the thing that i'm.
Completely blown away by that i had no idea was going on in capitalism and meritocracy is once you get rich you actually try to spend your dollars to create laws that allow you not to work and still hold on to your money 100 right i mean i'm blown away by this you were benefit.
You were benefited because in your 20s to 60 for 40 years you grinded and out executed somebody and you were able to make lots of money but now that you're tired and you're finished and you're older and don't want to put in the work you don't want the next young buck to come along and eat your lunch that's not how capitalism.
Works it's true it's just not and so we have all these trends and we have the great fortune of living in an era where things have been really good for a very long time and so i walk around the world and i told my.
Wife lizzy i'm like lizzy listen to me i don't care clearly because i'm such a student what the kids do at school but please they can't be in programs where we give away seventh place trophies i have no idea who wins the election tonight but we need to ban seventh place trophies in america.
And so we have all these macro situations going on and not to mention for a lot of people here under 30 you haven't been in the game during an economic downturn because things have been very cushy for the last seven years where if you're 23 years old and you have an idea your company's miraculously worth four million dollars.
And so we're living in a very intriguing time and i think that the passion and the angst and the energy that i bring tonight are predicated on a couple of tried and true things number one if you're not making long-term decisions you will be vulnerable the market's changing very quickly and anybody who's looking for short-term stuff gets.
Short-term stuff and then gets hurt in the long term things like airbnb guys airbnb shouldn't have been invented by brian and joe airbnb should have been invented by marriott but marriott is looking short-term and isn't creating business models to put themselves out of business uber should have not been created by.
Garrett and they should they should have not been created by garrett and travis they should have been created by the guy or girl that owned the most medallions in new york city or by greyhound if you sit here tonight and you're doing well you're in danger because there's.
Somebody young and hungry that has the internet which is a platform that creates a zero cost to get into the game that's coming after your so if you don't do what i do which is wake up every single morning every single morning and try to put yourself out of business somebody else is going to do it for you.
It is much more fun my friends to put yourself out of business than have somebody else do it for you and so please if you're cushy who's cushy raise your hand if shit's going real well jesus christ three people raised their hand i think you need to shut down this you're doing good.
Awesome man what was that i was like you're doing good you're like yeah we're doing okay all right yeah always so you've got to understand the only thing that's interesting to me and the only thing i have i always say that basically my career is predicated.
Much more similar to mariana rivera than anything else that i can think of if you're a baseball fan he was a very good closer for the new york yankees where basically his entire career was predicated on one pitch he had one pitch for 17 years and nobody could hit it and that's basically my business career i've got one pitch which is the following.
I know what you're gonna do before you know you're gonna do it it's the thing that i was gifted with just like if you can sing just like you shoot i've always had the intuition i was made fun of and aggressively made fun of for launching a website in 1996 because just like people sit here and think that vine or snapchat is a fad there's people in this room.
That remember where the whole internet was a fad but i bet on it and i built a big business and then i was made fun of because this thing called youtube came out and i took a chance on that because i thought it was going to be big and started a wine show and sat in front of a camera and drank four bottles of wine for 20 minutes and.
Hundreds of thousands of people watched it and then that worked and then twitter worked and i invested in twitter and facebook and things of that nature but i had so many losses along the way one thing that's never talked about with my genius career was that i was on.
Youtube super early but i left six months in and started producing wine library tv exclusively on viddler i was wrong one thing that's not talked about is that i thought that the biggest startup in the world in 2010 was going to be yobango i was wrong.
And i continue to be interested in being wrong for the rest of my life because i am a purebred entrepreneur because i'm not scared of trying things and wasting my valuable time because i want things and most of all and this is the most of all the whole thing i just genuinely don't give a about what you think about me.
balanced with i really care about what everybody says about me and in that friction and i mean that you have to deploy real ego and real humility around this course because we live in that world but if i could inspire anything in the time that i was here today it's very simply this please.
Do me one favor i'm gonna wrap it up with this and this matters so much to me please whatever it takes call your grandmother go to your great grandfather's burial spot go back to the old country go to a shelter do something do something that recalibrates your perspective on what is actually going on.
Here we have never had it better my friends i'm going to leave you with a very interesting data point you guys like data who likes data great let me give you some data more people in america will die from a coconut falling out of a tree and hitting you on the head and killing you.
Then terrorism yeah i see you tentative like is he serious i'm dead serious kids 7 to 11 watch more twitch esports than all the four major sports combined that's data we're living through a totally different time 10 years ago the weirdest thing in the world was your.
Friend dated people online now every single person swipes to the left and right 24 7. and so the trends and our society have changed and either you're gonna sit here and binary this is a black and white conversation either you're gonna leave here and understand how awesome it is and you're gonna take full.
Advantage of it and be a winner or you're gonna sit and dwell on all the negatives of it and be a losing player it's just the truth it's not complicated it's not fun for me to say i don't want you to lose i desperately want you to win but this is on you nobody else is in control there are people who deal with.
Things like the loss of their children or real diseases we're sitting and dwelling about not getting enough likes on instagram we're sitting and dwelling about forces that don't really have impact on us it is time that this collective room and our space understands this is the greatest golden.
Era of not only business but life and you really and i mean really need to grab it thank you thank you