Why Your HOBBY Could Be the Secret to Making a Fortune w/ Josh Luber & Noah Neiman π΅ E97
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How did Josh Luber build StockX into a billion-dollar company?
At the end of 21, after we got our licenses, we did a round that valued the company at $10 billion, and I was the only employee of the company. When I left StockX, we had 1,400 employees. What? Yeah. I've been in this industry now for 10 years. I mean, all these things are the same, right? Sneakers, trading cards, watches, handbags, toys. And so now, after having run a marketplace, after having run a brand and licensing, I get to create a brand myself and then take all the learnings from sneakers and from trading cards and apply it to collectible toys.
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.
Thanks for having me. I didn't know I was doing a 200 bio. We do the 30-second bio. I am an entrepreneur. I've started and run many companies. The two that are most well-known are StockX, which we started in 2016, and I left at the end of 2020. Fanatics Collectibles, which is a trading card business with Fanatics, which we started in 2021, and I left at the end of 2022. And currently running the newest and what I hope will be the longest 10-year business, which is Go Straight.
Bam!
That was quick. We got right into it. Amazing.
GhostRite is a collectible toy company, not dissimilar to Bearbrick. We'll get into a lot of the details, but the idea is that I've been in this industry now for 10 years. All these things are the same, right? Sneakers, trading cards, watches, handbags, toys. So now, after having run a marketplace, after having run a brand and licensing, I get to create a brand myself. And then take all the learnings from sneakers and from trading cards and apply it to collectible toys. I love it. That's it.
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.
You know, like you, I have the privilege of getting to speak at a lot of different places for a lot of different reasons, and one of the talks that I give is the everything but, all the ones that failed before StockX. We'll do the short version of that. But the short version is that I've always wanted to be an entrepreneur, and early on, you don't know how to. I graduated college in 1999 when the word entrepreneur barely exists, the internet barely exists, there were no apps, there were no iPhones. No smartphones. And so all the businesses that I started before, none of them had anything to do with sneakers. Almost intentionally so. Almost like intentionally avoiding trying to create a business that was just an excuse to play with sneakers.
But in between everyone, I had a corporate job. You know, the fact, I mean... Money Monday is like this is the place to talk about the fact that you have to still be able to pay your bills and take care of your family. And I started my first startup when I was single, second married with no kids, third married with one kid, fourth married with two kids.
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