Tai Lopez
Appearances
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
And it took me nine months to go from basically at $47 in my bank account. Nine months later, I was making six figures on autopilot. I just passed 3 billion minutes watching my YouTube.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I think my bio is like I'm an entrepreneur. I'm adventurous. Yeah, I've lived many lives. I lived with the Amish for two and a half years, lived on a farm. I graduated high school sleeping on a couch in a mobile home in Clayton, North Carolina. I was born in L.A. My dad was in prison, so I was born in Long Beach. He was on an island prison called Terminal Island.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
By the way, that reminds me. I got to ask you about a manufacturer. See, there you go.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Dan has a lot of stuff in his head. Dan's a connector. People think I'm a connected dude. I'm like, Dan probably got me beat.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
The other day somebody hired some guy. I was like, ah, red alert. Pull back, pull back, retreat. You know, by the way, the best argument ever of a mastermind that created the most wealth in history
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
they didn't call a mastermind it's now called the paypal mafia yes and elon musk joined this group of people he had sold his first company for about 30 million he reinvested the money back and merged into paypal with peter thiel but if you look at a photo of the paypal mafia a whole bunch of smart business people basically living or meeting together every day in a mastermind setting big room talking
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah. So Rockefeller made more money, a little bit more, but he had to work like an insane person. Whereas Carnegie used the mastermind brain trust idea. to surround himself with the best idea and quantum leap forward with only two hours a day of work. I always tell people, be Carnegie, not Rockefeller. You need to be around people that you can trust their advice.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
23 of them. Elon was one of 23. The other guys, Ken Howery, friend of mine, him and Peter Thiel started Founder Fund, the second largest VC fund. They funded everybody. They funded Uber, Airbnb. So you had Ken Howery, Peter Thiel, some people say the highest IQ businessman on earth right now, worth 10 bill. The two guys in that PayPal mafia went on to found a small company called YouTube.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
So the two co-founders of YouTube came out of there. A guy started a business social networking platform named LinkedIn. He sold it for a bill. Reid Hoffman was in there. And the founder of Palantir, one of the biggest tech companies, the founder of Yelp.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
So when we see Elon Musk, we go, oh, the richest man on earth, 250 billion net worth. Oh, he's just a guy who sits in a room. Has great ideas. I could never be like him. No, no, no, no. His inception, the beginning of real wealth for him, was being in a mastermind network. Now, if you could mastermind every day, it's better. It's not realistic for everybody.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
But he was masterminding every day for years with some of the people who became and were at the time the highest IQ business people. So you have to create your own PayPal mafia. The mastermind me and you are doing is... moves people towards that. It's our version of PayPal mafia.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I don't know if it's I hope it produces, you know, 20 billionaires out of it or whatever 10 billionaires, but the point being you have to if you don't have a PayPal mafia, you will be born and die with half the net worth you could have had half maybe a 10%. So for me, a mastermind in networking is not optional. There's no smart dude. Once again, going back that dinner with Steve Ballmer,
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
250 – now he's worth $150 billion. He owns 5% of Microsoft, $3 trillion company. I asked him. I said, you know, wealth, it's like do you deserve all this kind of thing at dinner? He's like, well, you know, I'm a smart guy. I would have been wealthy. But if I hadn't met these two guys, Paul Allen and Bill Gates –
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
wouldn't be worth 150 billion so he was like the connections i made created my wealth and by the way mark zuckerberg who's the youngest wealthiest person he mark zuckerberg was the only person in history worth 100 billion under age 37 And Zuckerberg, he networked. He had all these smart people. He also networked and had Steve Jobs as his mentor in his mastermind.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
So grew up part with a single mom and discovered internet marketing in 2001. I bought a course. Corey Rudall had a course for 300 bucks. And I was like, I learned back then there was only Google ads. And it took me nine months to go from basically, I had $47 in my bank account. Nine months later, I was making six figures on autopilot. And so I just never looked back.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Your mentors can be in your mastermind. People don't know. He had Steve Jobs guiding him from like 2008 to when Steve Jobs died. So years of mastermind. So behind every Forbes list billionaire, if you dig into this story, there's a mastermind. And so when I meet entrepreneurs that are doing 1 million, 5 million, 10 million, and I'm like, who's your mastermind? Like, oh, I don't need one.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I'm like, bro, let me get this straight. You're smarter than Elon Musk. You're smarter than the whole Forbes list. Warren Buffett said, I wouldn't have been that wealthy if I hadn't met this guy, Charlie Munger. He met him at like a group thing, like a conference, and he met this guy. They eventually became partners. Before then, Warren Buffett was working twice as hard and making half the money.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
And he's like, I met this guy, Charlie Munger. A great book on this, if you want the actual science, is by Jim Collins. He wrote a series of books, Good to Great, generally considered the most respected.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
modern business book he's like the modern Peter Drucker in his research of highly successful high net worth individuals he was surprised he called he said I thought it would be a what event meaning somebody had an invention and thought of something he said what it turned out to be was a who event This guy met this other guy. Steve Jobs met Wozniak.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
When Steve Jobs was young, his neighbor was the founder of Hewlett-Packard. So when Jim Collins, who's a researcher, one of the most respected business researchers, he said, wait, it's not somebody coming up with some idea. It's somebody meeting, connecting with another human. That's it. There's a lot of books on this. Working Together by Michael Eisner, the former... CEO of Disney.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
He also says... It's a myth that solo people make the most money. It's people who either have joint ventures, partnerships, network, share ideas. By the way, we could just go back to Carnegie, 400 billion net worth, and he says he owed it all to his brain trust. That's another word for master. That's an 1800s word for brain trust, you know? I mean, that's an 1800s word for mastermind.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
20 million brain trust. You can put it in sub-headline. Build your brain trust.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah, because introversion, look, about half the world genetically is literally born on the more introverted side. If you look at, there's a modern science, more advanced, it's called Hexaco score. There's like the big five. Those are the old ones. The newest one's called Hexaco. In there, there's a...
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
hexaco stands for h is honesty humility e is emotionality x is extroversion introversion people are on a spectrum of extroversion and a lot of introverts want to just change themselves and go oh i'll just figure this out on my own i'll start magically i'll start being able to walk up to people on the streets if you're introverted it's better to get yourself in a room where there's forced interactions it'll be a little uncomfortable for a second
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
But most introverts realize, oh man, I need to be around more people. They're really good at talking once you talk to them. Yeah, introverts are actually, it's a myth that introverts aren't social. Introverts sometimes, if you're an introvert watching this, in fact, some scientists say introverts prefer to be in social settings. They just want to be not in the center.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
The power of the internet to reach people now. Back then, there was maybe a couple hundred million daily actives on social media. Yeah. It wasn't really there. There's like Friendster, Myspace. Now there's 4.5 billion. So it's like my motto for my companies. I also buy and sell companies. I bought and sold some of the biggest companies in America.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
And they don't want to be in the center of the room. That's one of the classic psychological, it's called psychometric questions. Are you a fly on the wall in a party or do you go to the center of the room? Extroverts walk into a bat birthday party. They walk right to the center. My friend, Herman, is a PhD guy. Number one intro expert. He walks in, goes to the center where the most people are.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I have another friend, Rick. He likes the room, but he needs to be in the corner. So if you're an introvert, you have to have these good masterminds. The way you do it and the way we're doing it is like, hey, dude here in the middle, go talk to this guy. He's gotten connected.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Hey, I tell people never be, never fear someone's opinion. Never fear looking bad. Just fear living a shitty life. So if you go to a mastermind, don't be worried. Oh, if I say this, I look bad. There's always someone richer and someone poor. Say it because you're only optimizing for a good life. So I'd get in there. I always tell people mastermind. What's, I call it the GBB.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
This is what I do when I do a private mentoring of people. I always start to call it, what's the GBB? What's going super good? What's going bad? And what's the number one thing you're blocked on that you've tried to fix, but you can't fix? Because right now, every entrepreneur has things that are bad in their business, but they know the solution.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
That's so that you don't need a mastermind for that. You need a mastermind for the things you've tried to fix and you're stuck. Entrepreneurs plateau on revenue for five years. They don't know how to get out of it. Go to the group. Be like, you know what? I've been five years. I had a guy come across the street there. Guy came to me. He's like, 2013, I made two million. 2014, I made two million.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
2015, I made two million. And he started working with me. Prime mentor. 2016, he went to 12. He even did two million the first month he was masterminding with me. So what used to take him a year to now he's he did 40 the next year. He's pretty well known. Most of you know who he is and he's doing like 100. But my point is he was blocked.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
And so he was humble enough to be like, dude, I'm at two, two, two. What the hell? And so you just vulnerably say I'm stuck. And somebody in that room, 90% of the time knows the solution.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah, exactly.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
And now like my mission for my personal brand is the same one I had 10 years ago, which was
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
spread good ideas you know so i've been in the education space i've got seven million followers i got i just passed three billion minutes watching my youtube three billion yeah three billion it was like a couple weeks ago i've been saying 2.8 billion then i looked and it was like i was at right at three billion that's so wild yes 200 it wouldn't have like 200 million three super bowls yeah i've been watched
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Well, the good thing about doing it in the same place is every event I do, we get some random dude that I know that would never come that's making a bill. Right. So if you move them around too much, you don't build flow. People know. All people around Beverly Hills know. Every month, Ty opens up his house for big baller guys. So I like – it's good to move it.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Like we're moving it between my place and your ranch. But having it kind of in a set place will help bring the quality up. And so – but, yeah, big house. I mean, I always tell people big house is such a good investment. You can use it personally. You can use it business. I got a movie theater in there. You got your gym in there. It makes you more money.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
But when people come – by the way, a lot of people – There was a guy, Shane, this Shane Seale guy. He came and he's like, not only was I at the Mastermind and learned stuff, but I also learned I need to start hosting these on my own and he's in Atlanta. So you're going to get a lot of good ideas from the Mastermind, not just what people say, but also watch what people do more than they say.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Like I said, I mean, my grandma used to say, never be boring. So I like a little sexiness, you know? Like some masterminds that I've gone to, it's like so boring. And day three, everybody's asleep. Or people leave. I had a three-day mastermind. Day one, everyone there. Day two, day three, like, get me home.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah, they're sitting in the ballroom. There's nothing. I did a party. There was Garrett. Well, you know who Garrett White is? He was there. He brought his wife, and he was like... This is the best thing. This was last weekend. I did a Halloween one. I've been to everybody's. This is the best one I've ever been to. It was like, I can't believe it because it's a mixture. I call it edutainment.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
There you go. You need education, but you need a little entertainment too. That's why people sometimes see my story and they're like, oh, Ty, you post stuff that's not business. I'm like...
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
my grandma my hundred-year-old grandma told me this don't be boring so that this at here is gonna it won't be boring ain't never been to a beverly hills party hollywood party is fun it's fun we do them in the i don't get let them get too crazy because we don't do them at night late into the night late into the night is too crazy there's a level of crazy that i like i'm still a businessman so i don't want full-on wacky parties but this is classy it's fun and also
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I got a guy, these two e-com dudes, they're doing a meal a week, right? And they come for that and they've been to the masterminds too, but they always make sure they're there for the party and they end up masterminding all day at the party. You know, sometimes some people do better in a formal setting. Some people need to be out at the pool, got food, drinks, talking.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Some people let down their guard. The whole point is anybody watching this, you're going to get the best piece of advice. You're going to make the most money when people's guard is down. A house, I like a house better than a hotel. You bring people to a hotel, everybody's all formal and stuff like that. A big, cool house or your ranch, it's a different vibe.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
yeah first off always stay proportional to your net so i i used to always have a rule i still do five percent of what i'm making every month i've doubled down into my brain so if you're making 40 million let's say you're doing 20 margins you're doing eight million dollars a year you should be spending five percent four four hundred thousand dollars a year
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
yeah so that that's my story you know and i'm interested and i do lots of stuff and i live in beverly hills and then i have a farm in the us and then i live also in sweden so i like rotate brazil in the winter very cool i just had a brazilian baby there you go i know congrats on that that's awesome
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
on intelligence competitive intelligence by the way the higher you get up you also need competitive intelligence i see people launching campaigns i'm like no no i can tell you right that one doesn't work right so the wealthier you are the more value you'll get from a mastermind and so and you don't want to be like i said in that old san diego 5000 mastermind go to 100k it's tax deductible
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I tell people, don't be cheap. Only be cheap with like... I remember Mark Cuban came to my house. It was interesting. He's like...
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
ty there's you can look on my youtube we had an interesting long talk and he's like when i go to costco every year i buy all my toothpaste for the year because i save like seven percent i'm thinking i'm a fucking toothpaste so he's saving he's a billionaire thinking about how he saves 100 bucks a year but then i was like after he was at my house i'm like where are you going he's like
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Oh, I keep my jet warmed up down at the LAX because my time is valuable. So what I learned is the ultra wealthy, they are cheap when it's easy to be cheap. Toothpaste, if you can apply a coupon and save $40 a year, no matter how rich you are. Use the damn coupon. But when it comes to your time and saving time, he'll keep a jet engines on.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
That'll cost you $50,000 to keep the jet on just so you don't have to warm it back up when you get there. So if you are doing 30, 40, 50 million, how can you save five years? How can you save three years? How can you save one years? That is you must be in a room with all people who can afford to pay 100K. If they can pay $100K, they're qualified most likely, unless they inherited their money.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
They're not a lot of trust fund kids in our stuff.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Well, I have a simple rule. I call it the two-decade rule. I like to be around people that have been wealthy for 20 years or been killing it for 20 years. I've been doing my first funnel in 2001. If you want to learn funnels, scaling, internet stuff, I've been doing social media. I was big on Myspace in 2006. I was on a TV show called Millionaire Matchmaker. I had a huge Myspace.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I do Brazilian jiu-jitsu.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I've been doing social media since before 2005. So don't come to me and Dan's mastermind if your criteria is how to build a factory in China. There's probably a better mastermind. I would literally find dudes that have been building factories for 20 years.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
If you want to be around people that know how to go viral on social, that knew how to do, I've got five of the most profitable and largest paid ad campaigns in history, not just here in my garage. So if you're interested in scaling with ads, if you want to be networking genius, if you want to, Dan has like 75 companies. If you want to understand how to raise capital, Dan,
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
go to this kind of mastermind. So I just use the 20 year you've been killing it for 20 years. The number one mastermind I would avoid is when you ask that question. It's like I've been doing this three years, there's an old saying the young doctor fattens the graveyard. So if you need heart surgery, And you, and you, it's kind of like a mastermind. The hospital's a mastermind.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
You roll up and you're like, yeah, they're like, Oh, we're so happy to be here. You're going to be my third part surgery. You're like, no, I want, when I went to do my LASIK surgery, Chris Paul's a friend of mine, basketball player. He's like, I said, I need LASIK. He's like, oh, LeBron James and me, we got our eyes done at Dr. Seal in Beverly Hills. So I go to Dr. Seal.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
He's about to cut my, they're literally about to cut your eyes. And I go, you've been doing this for a while, right? And he goes, you know, I calculated the other day. You're about number 60,000. Oh, my God. Yeah, he had the patent and trademark on Lasik in the 90s. So I was like, you're qualified. And so that's what I mean. Go to the mastermind that's like Dr. Rocio doing your eyes.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
You want a guy who's like, oh, I've done this 60,000 times. That's the mastermind. So just go by credentials, not college degree, because college degree is not experience. Go by credentials and experience. Just ask people, you know.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah. Tell people, you can do this the easy way, you can do it the hard way. Your choice. You know, I sometimes say, you can be right or you can be rich. You know what's interesting? A lot of people will tell you they'd rather be rich But if you look at their behavior, a lot of people would rather be right. They have a conviction. They're like, I can do this.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I'm like, great. You could be right or you could be rich. As the philosopher Nietzsche said, convictions are greater enemies of the truth than lies. So a lot of entrepreneurs, it's just in their head. They got these weird, you know, self-sufficiency. And when you look at the numbers, everybody's getting help that wins. You know a good analogy? You show up to a fight, who wins the fight?
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
One huge MMA strong guy or 50 medium-sized guys? It's the bigger army that wins. Dr. Buss told me that. He said in chimpanzees, they attack each other a lot in troops, little groups. And he's like, in chimpanzee warfare, it's not who's the biggest, strongest. It's literally numerical count. So if there's 50 little chimps, they destroy 10 big chimps. And so it's the same with entrepreneurs.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
One supposed genius entrepreneur is going to get taken down by a person who has a mastermind of 100 people behind him. He's going to get outmaneuvered. Nothing you can do.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah, I would say I like what somebody summarized, what Charles Darwin said. And he said, it's not the smartest or the strongest that survive. It's the most adaptable to the environment in which they find themselves. So
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
If you're trying to double your net worth, you're trying to make twice the money with half the work, it's not going to be just you being super smart, you being super disciplined, you waking up at 4 a.m. like people say. It's going to be are you adaptable to listen to a brain trust of smart people. So get in smart rooms. Always be there. Try every single month at least once.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
If you're an entrepreneur, you're usually the smartest person in your company. But at least once a month at a minimum, make sure you're in a room where you feel like,
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
man i'm not the i'm not the smartest when i had dinner with steve ballmer he's like so ty what's revenue how's your revenue doing and i was thinking usually in any room i can be one of the top revenue guys i've done almost 900 million in one year but when i'm sitting with ballmer who ran a ceo of microsoft for 20 years i just said to him not a lot steve and that was a good room for me to be to humble myself and i i was like i need this more often where i'm like no i don't know compare you made my money in an hour right
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
You know, so don't always be the smartest person in the room. Surround yourself and you will win. Surround yourself with sharp mofos. Pardon my French. He's not swearing.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I'm going to put a link, tylopez.com slash mastermind. It'll link you to the masterminds that me and Dan are doing. Just tylopez.com slash mastermind. It'll redirect you to the 20 mil or the 100 mil if you're more advanced. So tylopez.com slash mastermind. It'll be a page with me and Dan when you click it. That way it's easy to remember.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
on zoom or in person in their own cities like let's just talk through the mastermind world first off like what was one of the first masterminds that you attended or spoke at man i went to a mastermind in like 07 or 08 it was funny i went with this guy who's definitely one of the best marketers in the world super secretive guy owns a lot of websites that are faceless and i remember going to one in new york city he's one of the first ones and he gave a talk and
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
The next day I was like, you know what? Everything you said at that talk was different than what you told me works for you privately. He's like, oh yeah, I like to go to masterminds and give all the wrong info so everybody copies my wrong landing pages, my funnels. So that was the first introduction.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Don't go to mastermind with this friend of mine because he's like, I throw all my, because he's like, if I give him my best stuff, everyone will copy. So that was my first intro. I launched my first mastermind probably in 2011. So I've been doing masterminds a long time. I think, Phil, like you came to some of them.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I used to do like masterminds at my house in the hills and they would also transition into kind of like a party. I like that vibe because one thing I've learned with masterminds is if they're too formal, you can't get some of the best dudes like Forbes list guys. They don't necessarily want to go to a super strict one, but if you have some fun to it, they'll show up for the fun.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
So you can, some people, there are people that like that, like hardcore business. And there's another group that's ballers. You want to be around them. But so I had like these entertaining masterminds, kind of like what we're doing together, doing the same thing with the party the last day. Um,
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
so yeah it was it was a game changer because i cut my philosophy on masterminds basically is you read the book the gospel of wealth by carnegie so second richest man in modern history is andrew carnegie first is jd rockefeller worth about 600 billion in today's dollars um and carnegie was worth about 400 billion so close but what i liked about carnegie carnegie early age around 25 30 he made his first couple mil and he said i'll never work more than two hours a day
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
But what he said he did was create a brain trust of really smart people around him. And he said, no matter, we often did not agree, he says in the Gospel of Wealth, but out of that brain trust came some of the ideas that took him from, while working two hours a day, took him to $400 billion net worth. So if you could be Rockefeller, Rockefeller worked like a dog.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
16 hours a day, at age 50, all his hair fell out. There's a famous quote, he said, all... of the money i've made 600 billion hasn't compensated me for the stress i went through so rockefeller made more money a little bit more but he had to work like an insane person whereas carnegie used the mastermind brain trust idea
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
to surround himself with the best idea and quantum leap forward with only two hours a day at work. I always tell people, be Carnegie, not Rockefeller. Be the second richest man in the world who only works two hours a day.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah. There was a dude I remember down in San Diego. He used to have a 5K mastermind. You did not want to go to that mastermind. There was no screening. Right. So I remember I went one time. I used to live down in San Diego, and he had a 5K. It was one year. You got, whatever, four events for $5,000. Yeah. The quality of the group. No offense to people, but it depends what level you're on.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Maybe if you're a brand new beginner. Yeah. You're not making any money really. Maybe a 5K mastermind is all you can afford and it will still be. But if you're making any amount of money, you want to be in a gated one. You want to be in a gated one. You want to at least be paying $20,000 to $30,000.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
You know, and some of the best masterminds I've had, like I've done my own, I do my own mini masterminds, by the way. I have a couple marketing guys. You do the same thing. Me and you kind of have a WhatsApp mastermind. We'll talk. So you could have, I have formal ones and I have little groups on WhatsApp. I paid one time Steve Ballmer $250,000 to have lunch with him.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
You know, now he's the fifth richest man in history. When I was there, he brought another guy. We were all sitting around having dinner for a few hours. It was like a dinner table. I paid a quarter of a mil. Well, I gave it to his charity. He didn't want the money. But by the way, the other guy there was the owner of the Golden State Warriors. So it was like three of us. It was funny.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Steve Ballmer left the table. He was like, Ty, I got to go for 30 minutes. We were down at the Staples Center. So he leaves, we're having, I'm like, oh man, he left me with this guy.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
It wasn't Vivek, it was a different, it was a former one. It was the guy before that. So I'm sitting here with this, it was an Asian guy and I'm sitting there and I'm thinking, oh, this is his assistant. He left me with. Oh my God. So I just had a totally normal conversation. Just like, so what do you think? Who's going to win the game? The Clippers?
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
And after like 15 minutes, I was like, by the way, you know, I was like, I thank God I didn't say how long have you worked for Steve. Right. But I was like, how did you guys meet? And he's like, oh, when I owned the Golden State Warriors before I sold it. And I was like, oh, shit. Oh, my God. So what I'm saying is that was a mini mastermind that cost $250,000 at the table.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
But I had some of the best advice I've had in my life. on buying and selling companies because I was with a guy that at that time was worth 50. It was worth 47 billion, I remember. So you need to be around people that you can trust their advice because nowadays everybody has advice. Everybody's advisor. I go on my Instagram.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I'm like, this motherfucker is like people taking from advice from a dude who made money for three months and now he's like a guru.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah. I have my friend Jeremy that's in my house right now. He was in Bali. I remember him texting me during COVID and he's like, dude, I'm in a jacuzzi with like 10 people and one of these motherfuckers is a... I said, how old are you? The guy's 20. What do you do? Life coach. He's like, who do you coach? Eight-year-olds? At 20, you could coach eight-year-olds.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
You could coach people 10 years younger than you because you got the experience. But... Yeah, so when you pay for a good mastermind or pay for like a seat at the table, you're getting assurance that this advice is tried and true and tested. Do you know what I mean?
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah, you don't want to tell him. No, you don't even want to tell them.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
same quality same feel same style yeah what the entrepreneurs are doing 500k a million five million ten million two million so that it's more affordable and more realistic to get into it yeah talk me through your thoughts on the concept yeah so the 20 million dollar mastermind like you said it's like you can still have two levels it's gonna be two different masterminds but there's a huge gap in the market for people that are wanting to hit 20 million they're not there yet you know and what i would say is i tell people this
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I've heard people, Russell Brunson in front of mine, sometimes he says, you're one funnel away from doubling your net worth. There's truth to that. But I would say even more so, you're one relationship away from doubling your net worth. Meaning there's some person walking this planet that knows one thing about Facebook ads or knows one thing about raising capital.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
And if you knew them on a friendly basis, they'd tell you. Because I tell people, people don't always tell you every secret they know. So if you buy a course, if you buy a book, they don't put everything in because people reserve their very best stuff for friends.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
So when you start coming to a mastermind, social events, dinners, stuff like that, people's guard drops and they give you their best advice. Back in 2014, I was at a dinner. I swear it might have been one of your dinners. I wish I could remember. But 2015, a guy's like, there's a new thing called YouTube ad that's really taken off. And I was in September 2014. And I was like, you know what?
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
I've learned when somebody test everything people tell you. So I was like, let me do a little test. So in December 2014, I spent... $17,000 on YouTube ads and made back like $1,000. I was like, oh, this isn't going to win. But the next month, I kept dialing in the funnel, and I launched, I remember, it was January 24, 2015. I launched, and we cracked the code.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
We had this here in my garage video and a couple variations. And this thing started, and I would spend $60,000 and make $120,000 back in an hour. I was making like $60,000. It was crazy. So that... As much as I'd like to claim all the genius myself, it really back to that dinner.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
By the way, if you're that guy and you remember, I want to take that guy to dinner because I can't remember who the hell it was. But the point is that guy in his head. Probably had some friend making money on YouTube ads. And even though I'd heard of it, a guy at dinner was like, dude, I think you'll be good on this YouTube ads. And he kind of encouraged me. So you need that to catch trends.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
You cannot keep up on all the trends yourself. You'd have to read 30 books a day, 30 newspapers a day. You have to be Warren Buffett. That's the only dude I know who reads 800 pages. He says he reads 800 pages a day. So you either could read 800 pages a day to keep up with the trends,
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Or you can go to dinners, masterminds, and build a huge network, and one of them, I guarantee almost anybody, that you'll dub your net worth off something in somebody else's head. You can't have all the answers within. You just can't. So network. That old saying, always be ABC, always be closing. I'm like, no, always be networking. Always be networking.
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Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Yeah.
The Money Mondays
Inside the Mind of Tai Lopez: Masterminds, Mentors, and Million-Dollar Insights 🤝 E94
Right.