Noah Neiman
speaker
160 appearances
1 recordings
1 series
first heard Nov 2024
last heard Nov 2024
Noah Neiman’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsNo recordings in the last 12 months.Older appearances are listed below; set an alert to hear about the next one.
Appearances
Ladies and gentlemen, welcome to a special edition of the money Mondays. We have our RV motor harm parked here in Beverly Hills, California, but our guests flew from across the country. So I'm really excited to have him here. He has an illustrious career and a lot of the same exact categories that I've invested in. I've spent a lot of time in.
And so with these podcasts, as you know, we keep them under 40 minutes because the average commute to work is 45 minutes. The average workout is 45 minutes. So this podcast will be between 34 and 38 minutes for your listening pleasure. We're going to cover three core topics, how to make money, how to invest money, how to give it away to charity.
Now, along the way, this guy's worked on some of the most household name companies in history, and he's building a brand new one right this second, which you might be able to see if you're watching on YouTube right next to us, his next company. So without further ado, Mr. Josh Luber, please give us a quick two minute bio so we can get straight to the money.
Bam!
All right. So we're going to get back to Ghost, right? We're going to go step by step along the career journey of Josh Luber. Walk us through. What was before StockX and then how did you decide to start? I'm wearing sneakers from StockX right this second, by the way. So walk us through before StockX and then get into that.
So this is an important topic. Josh mentioned being able to pay your rent along the way. A lot of times people on social media like to say, just quit your job, go be an entrepreneur. And what they're missing out and not telling you to do is, even if it works, let's say Josh and I start bluehats.com. And Josh and I are like, hey, we're going to do bluehats.com. And we go out there and crush it.
We do $1 million in sales our first year. Do you know how much Dan and Josh made our first year? It rhymes with zero. And if any profits happened, what do we do with that money? We pour it back into the business because we're hoping to do $3 million next year on year two, which sounds fantastic. How much did Josh and Dan make on year two? It rhymes with zero. You get where I'm going?
When things are working, how dare you take any money out because every dollar you put back in scales the business. If you're pulling money out, you're literally hurting the business. And if it's not working, you're not getting paid. So no matter what happens, you're not getting paid as a CEO and entrepreneur. Now, I'm not trying to scare you away.
It's a reality check is that what Josh mentioned is that if you can have income along the way and work a nine to five and make your three grand, four grand, five grand, eight grand, ten grand, whatever it is a month you need, depending on your city location. Obviously, it's more in New York versus Alabama or Texas, wherever.
As long as you can cover your overhead, you can run your business from 5 or 1 p.m. until nighttime if you have to and work on the weekends. Too often, there's people just saying, tell your boss to screw off and just go jump into that. Definitely not if you have kids like Josh just mentioned.
So, Josh Luber, you get to StockX, 2016, you're growing, you're scaling, and all of a sudden, there's an inflection point. This is a multi-hundred million dollar company
about to be a billion dollar company if not multiple billion dollar company like what happens along that journey going from fun idea oh we got 10 or 20 employees oh well we have 50 employees oh boy we're 100 200 300 million company
Even with a company like that, Josh was talking about doing tens of millions of dollars in revenue, if not more, it's still not time to pull money out. So Josh, talk about the change as it goes from like you and your buddies and going to like 20, 50, 30 employees until like now you can't even name the employees because you get to 100 employees, etc.
So on the make money side, on the first segment, we like to explain to people the realities. When someone wants to become an executive or an employee for something like StockX, how can they make a decision before they dedicate the next one, two, three, four, five years of working with a company that's scaling?
When did you realize that sneaker flipping was an industry?
So during my speeches, I talk about the economy. And oftentimes, people think about every 8 to 12 years, there's a recession. Well, our last recession was 2008. And that was also big because of the mortgage industry situation and the banking situation. The difference was, and why we didn't have one, what I say in between 2016 and 2020 is the smartphone.
Never before 2008 did you have a smartphone. Now people can become a Uber driver, Postmates, Lyft. Now girls can sell their clothes on Poshmark.
people can sell their shoes on stockx and i literally that's part of my speech at stockx explaining that before you had if you lost your job during a recession you had no other way to make money back in the days 2005 technically is back in the days totally right like you didn't have about all those apps you couldn't go work as a postmates driver or lyft driver or instacart driver and now you can literally make money from your phone
15 year old kids can make six grand a month just buying flipping shoes making 200 bucks a day and so i look at it as literally changing the economy yeah i look at companies like stockx as literally change the economy where 15-year-old kids. I see them at SneakerCon. I was on an advisory board for SneakerCon. 12,000, 16,000, 20,000 sometimes showed up to a show.
There was 450,000 people at the shows last year for sneakers. It's become this mega thing.
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