0:00 have you had kindergles before yeah did you oh you ate them or you put them in your trash can [Laughter] I've never tried eating them yeah but they have a good than a trash bag though welcome back to careful boys we are very careful boys and today we are we so we have a bunch of entrepreneurs in the room and one of the biggest questions that I always like to have for entrepreneurs is if you were to open another business what would it be and why wow that's a good question a dream or something practical that could happen right now well I mean you're if you're going to open the business like like you do you have a good wine you have a good reason why you go first I think in the world that I'm in if I were to open a new
0:52 restaurant business and entertainment that's what that's what I like doing right now um I like the licensing type businesses because you already have a built-in fan base so you have a fandom and a crowd already there so you can already kind of know you'll be taking care of a lot of expenses already a lot of things like you haven't guaranteed you have a guaranteed income early at least okay well if I know I'm doing this this this crowd is guaranteed to come here and every if I do any more work I'm gonna bring in a whole new crowd and that's like cherry on top so it's licensing I love like yeah I think licensing is great yeah I mean dude when I visited your Hello Kitty like at the mall I was shocked man like we got there and the line was long so we went to go bathroom come back line was still long
1:42 and I was like well we might as well be ████ in this line and when we got in the line got longer and it's just constantly cranking out hell of ████ people man what do you have a Hello Kitty restaurant or a cafe the bakery how many there's two in Vegas two in Vegas yeah one wow I just have just the Vegas it's pricey bro I got myself a the fish thing the not the not the fish thing but the taiyaki with the ice cream ████ uh uh uh uh iced tea I got some I got a couple I got a donut and it was I was just sitting here like God damn Andy you are a genius this ████ is so ████ cool like because the the thing is you're buying the art yeah you're buying the you know your inspiring experience yeah yeah so like you're not and you're such a yellow kitty guys it's more of a karaoke guy me and Hannah
2:32 were standing there eating a ████ Hello Kitty donut and like well there's these Kawaii ass girls like taking selfies around us and ████ yeah and then this mom that was in line with me she she turns around she goes can you believe this ████ this ████ backpack I gotta buy it for her and I'm all like you're the one buying it you just say no like I know you're the one ████ buying it I think I would have got it back like for 75 especially if it's this big I didn't see the power in like a like partnering up with an established brand because it's it's like you're right they have a built-in audience and all this stuff and then on the flip side you know building a brand from scratch it's like I don't know if I want to do that again man like it's really I didn't realize how hard it was because you just go based on your passion and dream of like this is gonna
3:22 work I see all the lines like they're they're lined up and then you just start pumping money and and you just dump so much money and then you just don't even know like if it's gonna pan out and then for me I I thought that that's just how you do business until later I'm like oh there's easier ways to do this ████ like I didn't know that but there's also strategic Partnerships right because like let's say if I built a Hello Kitty gym I don't think what do you think that like what do you think you need to like okay this licensing and this like there's you see something that like one plus one equals three yeah it's like if you open like a wrestling gym you're gonna I'm gonna go team I'm gonna go get a
4:12 partnership with WWE because yeah people if you're going to want to learn this guy uses it's smart you could do that because I was like me I'm like I'm gonna copy what Andy does Yeah Hello Kitty gym and then ████ go out of business like three months not if you have pink barbells we were gonna build a set that was um that was a like a cute gym so like everything is going to be like girly colors yeah and then we were gonna 3D print all the weights so that you can look like on video and pictures like you're lifting that's everyone a good idea that I've been trying to pitch out let's like throw it out there that I wanted to do like you know everyone's trying to do Airbnb businesses and airbnbs have slightly started declining because
5:06 I was thinking about doing these themed ones but you don't have to actually you can do theme ones that don't have to actually have the license you can use the characters or build a certain place those places get booked yeah if you're when they're staying there shooting again they experience like they're staying there no like you just paint Naruto like walls like bootleg in there because it's technically your house so you open one during Comic Con you probably charge like like go check like Coachella when you go RMB Airbnb during Coachella stay on place there is like 10 10x more right you're paying for you can stay at a place for one week there and it pays for the mortgage for the entire year your brain works better than mine Frank yeah dude you're like my brain's just kind of like why do I want a bunch of Narutos on my wall yeah yeah you'll do it during a Comic Con week you get to charge like you can make a copy called the comic themed Airbnb and you can charge that week you could
5:56 charge 10 20 x more if I pay for the whole year and everything else is just like chill yeah even when I see your matte black coffee collabos those are cool like those are really well thought out yeah Everything You Touch turns into cold so it seems like just just wait for my wait for my Pokemon Planned Parenthood collabo dude how do you know which ones to focus on next which ones yeah because you have a lot of Concepts going watching it just depends on I know just how I I guess how I figure how much I can theme it out does it make sense does it make sense the masses um how strong is the fandom like this is fandom just like a one time it's like a one time where they're like long term like don't yeah licensing
6:47 this is this is so funny if this whole prompt was just so we could say bad ones he can say a good one we just Jack his idea got it thank you next week I'm like Anime conventions coming by did you see my Airbnb [Laughter] that is kind of Genius if you like have the Airbnb next to a place that holds a lot of conventions and you just monthly swap the theme out yeah for whatever the ████ that new convention what's it like working with a licensed partner like you're working with hello kids it's a lot of work it's a lot of work approval process royalty process going through contracts approval process is probably the toughest because yeah because they have to say yes to everything they'll send it back to Japan and Japan's like
7:37 oh ████ you gotta talk to people in Japan yeah so Japan and Sanrio have to check him out no yeah everything do they well they work with the USA we have to send it to the US team the US team Sent to Japan and then Felix the other reply back yes or no or we want to or we want to change this it must take a while huh do you guys get on the phone and you're like hello and you guys laugh for a couple minutes like because you think you're talking to Hello Kitty on the other side hello can I talk to Hello Kitty let me hear let me talk from let me talk to the manager you know that always awkward like you get on a business call and you guys do like some stupid joke and then like everyone has to like pretend that a couple minutes of like yeah right there so when you when you're gonna work with like let's say a company like uh Hello Kitty and you know there's a whole license here you know you got to go through like America HQ and the Japan HQ whatever
8:27 um you know there's like holding costs to get to launch a project like now knowing that how long do you think you need to plan beforehand because you know it's gonna take it's not something I have an idea in three months you have to it's like a year minimum year plus you have to usually have planned everything else so you have to budget at least a Year's worth of ████ rent I would say even even longer it depends where you're opening if you're doing something in like California or san like in San Francisco New York or La then it's probably a year and a half just because just because like permits and everything you have to get approved already it's like a year and a half of holding costs you have to just sit on probably that's why you got to work with the you know like good enough negotiator at this point you have like a crew right and then like you feel in your group of Partners you feel a specific role in this group right like creative director or something and then so like when you guys roll in an idea multiple you guys
9:17 all probably have different concepts non-stop right like coming in and then you're partnering up with different folks how do you guys divvy that up or like what is your typical week kind of look like as your team I I stay away from the operation I have a partner that usually handles all the operations um you know watch the day-to-day cost they'll update me on on like okay this is the monthly breakdown what happens we're doing something here's a report and my roles usually ideation um launching Concepts uh he wants to know what ideation what is ideation like brainstorming ideas like it working on brainstorming yeah okay thank you thank you for doing that uh brainstorming new ideas uh branding marketing creative directing yeah layout working on design layouts at the
10:07 store so the other partner is kind of like execute the back end or the accounting and the legal and the purchasing of the property and deal making negotiating all the and then for you you're like like you're you're coloring the canvas and packaging the products as in like creating the concept for the products and all that correct that yeah that's my role these days yeah what's the dumbest ████ idea you've ever had the dumbest idea I've had yeah a lot a lot of them tons everyone does right tons was one like you launched and went and you're just like yo that was stupid that was a mistake my mouth closed yeah we opened this we opened this concept but I was already like and it just I don't have a good you know you know those guts think you're like man I should have done that it's a noodle one you told us about before that
10:58 was a bad one too sorry for remembering that but what's the one that you open there so I opened up we opened a donut store called you jelly and just shaking your head like we know and it's done in this donut store it we weren't making the donuts on site because we didn't have the kitchen to do it we weren't experts at making donuts in the first place already um we only knew how to make one donut before that because we had after his ice cream so yeah we had one donut so we knew how to make one donut but making tons of different Donuts that was definitely not in our wheelhouse because we're winging it yeah we definitely winged it we got the special location we decided to open that what made you guys want to uh open a donut place we got this we got a pretty good location that we got offered to to do and we're like hey this is a good location we think we can do something cool here yeah and then just no one was on the same page everyone's just a different worlds of how we wanted to execute and we want the donut to be a circle do we really wanted
11:49 to do this you do squares so the store we were opening a donut store that didn't even open until 12 o'clock [Laughter] because nobody wanted to bake at three in the morning and we weren't even serving like we weren't even serving you know your regular glaze you know chocolate your Maple you weren't even serving those you still want you still want that customer yeah those are the daily ones no Staples most people just want some regular ████ yeah in the beginning like it was super hyped up lines down the block but over time pure like I don't want this every day I want still want my my core my core products and yeah and I'm like yeah what the hell Donuts were you guys making then so I'm like smoking like Ube Donuts some like s'mores stuff some great like crazy stuff so it's but it wasn't but it wasn't made on site it wasn't like you know we weren't experts and like hey this is like the type of dough you want to use there's also great great
12:42 artisanal Donuts in the area already and we were just kind of like the hypey ones does dough and arrow have chocolate chip cookies or do you Shane people no I love I think every concept I have now still has to have you can make all the fun stuff to bring people you gotta have your plain white tea you're an idiot if you don't serve vanilla you still have to have a product and the core product has to be excellent you want to try some dumb ideas and see how dumb they really are by asking them yeah all right uh food ideas here's a here's an idea it's like Afters but it's meat on a cone and it's called b4s after you're done laughing let me know what you think that's pretty good actually before what about a make your own noodle dry Noodle Bar a gym a gym that's only you can only be in drag it's
13:32 called 24-hour fishnets that's really good that's good you should be The Branding Ambassador do you want to work at line art dude see one of your ideas guy what about like a direct to Consumer noodle but people also use it as trash lining have you ever considered that because my trash has never been healthier than since I got kenja Bay noodles I've had trash for my whole life and I've also have a chance have you had Kinder Bay News before yeah did you oh you ate them or you put them in your trash can I've never tried eating them but they have a good feel in a trash bag though yo dude it's like it's like wow this is good it's very terrible good weight like [Laughter]
14:23 yeah you know how Bart remember Bart like you were saying like when you have a bunch of roommates and people like to Crunch a bunch of ████ down nothing crunches better than kenjamin and it crunches at the level where it evens out everything else yeah so you don't have like The Oblong weird shape so like you can crunch more it fits real nice Definitely direct to garbage that's what they did yeah what about an earth like orthod oral surgeon that also does grills I bet they had already in the south oh really maybe wow I probably go they're probably safer bed to go dude damn yeah you're right so do you want it do you work with the same team for all the concepts now it's like the same like the teams are I'm definitely getting Tighter and Tighter over time like I'm definitely you know like I'm not working with as many new people just because I
15:13 know I know my team the guys I can execute while I rather stick with them my success rate with those guys are like a lot higher so I was like okay I know these guys can kill itself and in that team is it like um when you guys brainstorm everyone pitches ideas from their positions point of view yeah because some sometimes mine I'm like sometimes I'm way too left field and my you know my other partners he's way more conservative so he'll be like hey we need you need to think about this and I'm like oh that makes sense you know until the whole Titan muscle abortions okay let's Planned Parenthood stuff but we can't do this this won't make sense in the the stream we can't streamline this and you can't get this across less placenta flavored things I don't think these are selling really well I don't know about stem cell cookies guys the lines out the door but I don't think we could maintain these lines look it's a hit but I don't know longevity wise I don't know
16:08 kind of like abortion was for a long time so it recently got made legally how about it how about a video streaming platform that's nothing but childbirth vids it's called fallopian tube hey there's probably an audience that's probably an audience yeah that's really good what would be a good licensing brand to bring to that [Laughter] off the market yeah it's great what would you hey great let me let me cut you some licenses and I want you to tell me what you do with it Barbie I feel like a fun like a fun house like a fun house like like a hotel like a hotel like a hotel oh okay that's sweet oh oh I gotta know what you think about this okay the Star Wars hotel that just
16:59 went down god dude what are your thoughts on the Star Wars Hotel what do you mean it's like a billion dollar failure right they're closing it where is it no that's the one yeah we covered it here that it opens everybody is now closing already well they put it and they put it in LA instead of Orlando probably be a big difference oh where do they build it they build it but the price points are so high like you want to stay there for like a week you're paying like 12 minimums like twelve thousand dollars it costs way too much to stay there you can actually do that it's four grand to stay at the hotel but yeah he's talking about travel costs everything's awesome that's really expensive I'm sure the experiences insanely amazing but for how for the everyday person like yeah but they weren't but it's all live action role playing in the hotel so like you're not considering what a Star Wars fan is mostly introverted people who don't ████ go outside right and so now they're going to a Star Wars hotel and they don't even want to talk to these ████ they're not going to appreciate that like extra thing yeah and the cost
17:49 of even I think they had to do makeup and makeup every day like you're putting on a performance every day and we're just losing a ton of money keeping the same thing open and the performers were there the entire time playing the same characters for like multiple days in a row so you have to pay for that that was a that was a billion loss right easily there's someone that does uh like most people's like dream projects as your day today what would be like your dream project oh yeah the license advantages no just anything like for example like uh like a regular person might be like oh man it'd be crazy to own it my dream project I wanted my own thing I want to do a theme park oh ████ full-on that's like Disney inspires okay what if I did like my own version of a theme park to that caters to like my to this generation now like oh that was already you can't do this yeah yeah
18:39 that's crazy delete this delete this stuff is ours it's got to pay us a percentage it was our idea first yeah we helped you we had that idea in a couple JK music you could do you just gotta pay us it's fine that would be sick to have a theme park that was actually themed after roller coaster type but then it was all my own custom ████ so if it was my own ████ I'd be pissed everyone dies at the end of every ghost yeah dude you're just making death traps uh I was making people throw up all the time it's too tempting right I was just leaving them in line London starve to death I'm deleting hamburger stands all over the ████ Park oh God what kind of theme park would you would it be and like and what kind of yeah like what would be the theme it's just like Disney has different lands I think that worked in in their time period I guess I would
19:29 do things that work in my time I guess my time period like the the merch stores would probably be like very streetwear type heavy stores uh the rides would be you know the rides would be theme the things I'm like I'm into like like anime I do like a Naruto ride or a dragon like a dragon ball team ride and it's built the whole old world dude an anime style like theme park would be crazy that would do so well Planned Parenthood The Ride Manga theme park would go crazy Adam was so blown up right now it's crazy yeah you put your feet up in stirrups no I didn't say anything cheese easy oh you know it's a cool idea my buddy who's from Norway he's got a bunch of these locations it's micro climbing you've seen those so it's like it's like a ladder just glued to the wall how can you get smaller than bouldering
20:19 stepladder it's in like a room this big but they have this automated wall it's a it's a smart smart wall that you can program like you can design it on a pad and then it the wall will shift to being what you would want though like it's more like a sideways thing than it is like an up thing so you're just climbing sideways well you yeah because you know you Boulder sideways too and it is also up but the whole wall changes to whatever you want it to be and it's 24 hours you you have a code you go in in case you want to climb at four in the morning yeah you can go in at any time and then literally you just walk in and then you'll you'll have an area of the wall and you go click click and then all the points where you can grab light up whoa yeah that's ████ crazy sick yeah oh yeah it's like a thing only in Norway
21:09 right now but he's going to build some out here my idea check this out only because we're at 21 minutes and what we mostly lose retention by now so it doesn't matter no we will know um so you get you do VR VR concept a couple years ago when I was doing trolling stuff I had a company reach out to me called a ████ machine and they're like they reached out to you yeah they did they went like we want I'm not kidding it they're like we want you to advertise for our ████ machines ████ awesome ████ like that and I'm like it really just kind of jerks you off I don't see where the ████ is yeah that was your big issue tough to recommend to my audience because your integrity is going to be I put in my name on this product but then I was like holy ████ now that VR is so intense and so good because playing my buddies VR game where he was climbing on cliffs and ████ and look real
21:59 just do what if you did VR blow jobs licensing porn stars genius and now you ████ hook these ████ up to this ████ ████ right and these ████ will do it do anything for money God damn dude what's happening here and then you have them just do like whatever they normally do on a ████ but they're special moves and then you program that with the ████ machine device yeah and now it's doing exactly what they did yeah but then the device and you get to pick the porn star with licensing but the device sucks so my service will have suckers exactly and it's got a wedding it's got a wetning mechanism yeah no machine and then mine's gonna be called ha surprise because when you're done you open it and it might be an old man
22:50 oh it's not a machine it's that's like putting a trash can on top of a ████ remote control car they call it a robot exactly that's the suck machine it's just a box with a person inside and I can't guarantee who's gonna be in there dude we are real entrepreneurs and we are we we believe in evolving you didn't like my my VR idea from back in the day before there was two there's one up here one down here you you play the porn game where you get your dick sucked the other guy plays a popsicle race because there's a filling in the middle
23:45 foreign [Music]
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