James Altucher

And it'll be right next to all the other Apple Prime TV shows when you search for your podcast. Most people don't realize that. So there's all sorts of things you can do, A, with experimenting, and B, with this idea of manipulating, you know, the math of ideas.

So you could start a podcast network, for instance, and you bring on other podcasts and your job is now to place the ads and you get a cut of all those ads. So now you not only have the business of your podcast, but you have this network where you already were placing ads on your podcast, but now you get to spread around to more podcasts and place those ads, you've now multiplied your podcast.

So idea subtraction, I'm forgetting some of the examples I had in the book there, but, you know, basically, what if you had your podcast and, oh, for TikTok, they only allow 60 seconds. So let's take the concept of a podcast, figure out how to do an episode with what's the most important thing in this episode with James. Okay, we're going to make a TikTok 60 second podcast. uh, with James.

Or here's another way, you do your podcast and you release it on all the platforms like Spotify, Apple, iHeartRadio, Sirius, and on and on. But what about putting your podcast on TikTok or YouTube? Or guess what? If you upload your podcast to Amazon Prime, your video version of your podcast to Amazon Prime, it would actually become an Apple Prime TV show.

So that's like idea subtraction. So if you take one concept of podcasts and apply all these different ideas to it, then you'll suddenly, uh, be everywhere. And you'll have lots of different formats. One of them might hit and be super popular. But in order to have luck, and earlier I said success requires luck, in order to have luck, you need to basically expand the area of luck in your life. So

And it'll be right next to all the other Apple Prime TV shows when you search for your podcast. Most people don't realize that. So there's all sorts of things you can do, A, with experimenting, and B, with this idea of manipulating, you know, the math of ideas. So idea subtraction, I'm forgetting some of the examples I had in the book there, but, you know, basically,

What if you had your podcast and oh, for Tik TOK, they only allow 60 seconds. So let's take the concept of a podcast, figure out how to do, uh, an episode with what's the most important thing in this episode with James. Okay. We're going to make a Tik TOK 60 second podcast, uh, with James. So that's like idea subtraction.

yes your podcast on spotify could get lucky and go viral but imagine if you also had a 60 second podcast on tick tock and a show on amazon prime that you uploaded yourself and a podcast network where you're just trying to make money but one of the other podcasts becomes huge and viral and suddenly you're making like great money now with with the podcast concept by having a podcast network

So if you take one concept of podcasts and apply all these different ideas to it, then you'll suddenly. be everywhere. And you'll have lots of different formats. One of them might hit and be super popular. But in order to have luck, and earlier I said success requires luck, in order to have luck, you need to... basically expand the area of luck in your life.

You've expanded basically the surface area of your luck and that often results in great success.

Very important question because people often say ideas are a dime a dozen, execution is everything. And this is just totally not true because in order, execution, execution doesn't mean one thing. You have to have execution ideas on how to execute. There are good execution ideas and bad execution ideas. So let's say you and I came up with a business idea and we said, oh, this is so good.

So yes, your podcast on Spotify could get lucky and go viral. But imagine if you also had a 60 second podcast on TikTok and a show on Amazon Prime that you uploaded yourself. And a podcast network where you're just trying to make money, but one of the other podcasts becomes huge and viral. And suddenly you're making like great money now with the podcast concept by having a podcast network.

We're going to make an AI that... figures out what everybody should order in a restaurant. I don't know, whatever it is. We're going to raise $2 million. We're going to hire a bunch of programmers. We're going to program this up over the next year. And then we're going to start selling it to restaurants, our new software package to restaurants. Well, that's a horrible execution idea.

You've expanded basically the surface area of your luck. And that often results in great success.

How about instead, a friend of yours has a restaurant. We go to that friend and say, listen, can we go from table to table this night and see if we can help everybody with their orders? And we'll see, oh, everybody already had their preferences even before they got to the restaurant, they knew what they wanted to order. So this is a bad idea.

Very important question because people often say ideas are a dime a dozen execution is everything. And this is just totally not true because in order execution, execution doesn't mean one thing. You have to have execution ideas on how to execute. There are good execution ideas and bad execution ideas. So let's say you and I came up with a business idea and we said, oh, this is so good.

So we shouldn't waste a year of our lives and $2 million of people's money and trying to raise the money to do this idea. It's a bad idea. Often when you try to break things down and do things manually as quick as, maybe it might not be the exact product, but you could usually test, do people even want this? Do people even remotely want this?

We're going to make, you know, an AI that figures out what everybody should order in a restaurant. I don't know, whatever it is. We're going to raise $2 million. We're going to hire a bunch of programmers. We're going to program this up over the next year. And then we're going to start selling it to restaurants, our new software package to restaurants. Well, that's a horrible execution idea.

You know, people already, the hard thing about business is people already know They've already filled up their 24 hours a day. You and I and everybody listening, we already have things to do all 24 hours of the day. When you start a new business, that means you're saying some people are going to do something new in part of those 24 hours.

How about instead, a friend of yours has a restaurant. We go to that friend and say, listen, can we go from table to table this night and see if we can help everybody with their orders? And we'll see, oh, everybody already had their preferences even before they got to the restaurant, they knew what they wanted to order. So this is a bad idea.

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