WEBVTT

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The one big thing,

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and you brought up that

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China built the world's factory.

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This isn't a new thing.

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The best way to become a world power is to be the number one manufacturing country in the world.

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And if you look through history,

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as that's happened,

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world powers are created on the back of making products.

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I think people are starting to realize that a little bit.

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And they're like,

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ooh,

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for political reasons,

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we need to have a strong manufacturing sector.

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your watch all marketing misfits with norm ferrar and kevin king mr ferrar another day another dollar how are you doing another dollar no no no hold it there's inflation in there and

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he's canadian canadian dollar knock off that's right no it's about 10 cents about 10 cents that's right

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I know every time you come down to visit the states,

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it's like I get all of a sudden it's like I know Norm's coming when I started getting shipments of random cigars.

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I'm like,

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and I'm like,

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where did I order this?

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Oh,

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OK,

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I think I ordered this stick in my humidor.

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And then Norm shows up like,

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where does the cigars come that I that I ordered?

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Like,

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no,

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nothing's come.

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And then you're like,

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you sure that this one and this one,

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I'll check the tracking.

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and this one you're like they were delivered a month ago kevin um i'm like oh yeah some random stuff did show up i couldn't remember oh it's this box right here yeah you're like that's mine but then you you were so kind though you gave me like this one's for you kevin and this one's for me i really appreciate that that was very very kind of you no

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problem sir no problem i don't want to put norm farrar because

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in your building who the hell knows norm farrar but they've probably seen me they probably think that we live together or something you know i just got a bill yesterday from ups it reminded me of you oh something it was a bill on an old ups account and it was like for 38 or no 88 dollars and

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someone shipped something from germany to toronto so someone's using like snagging my old account number or something that this is from five years ago and used it to ship something and bill said bill to the account and then amazon

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I mean,

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not sorry,

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Amazon UPS is like sending me a bill.

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I ain't paying this.

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Yeah.

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But that was a that was an unpleasant surprise.

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But sometimes you actually get pleasant surprises like cigars showing up in your place or you do an event called Market Masters.

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And you have this all these people come to this think tank and last minute one of

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Vanessa, a good friend of ours,

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Vanessa Hong says,

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hey,

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I know I know this lady that would be really good,

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really good fit for your event.

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I just met her at an internet marketing party.

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So I get on the phone with her and we talk.

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And I'm like,

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yeah,

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come on out.

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You can sit on a,

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I don't know you.

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I don't know you at all.

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But you can come on out and see how it goes.

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And she ended up sitting on a couple of the hot seat panels.

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And she brought her husband along with her.

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And she's like,

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you know,

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my husband's a pretty smart guy too.

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Anything you want to know about sourcing or products or this or that,

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you know,

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he can help out.

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So over the course of the weekend,

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he ended up sitting on a couple panels.

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And I'll never forget,

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there was this $130 million seller.

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Remember?

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Oh,

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yeah.

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Doing $130 million on Amazon alone,

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the husband and wife team.

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And they come in and they have all the stuff they want to get help on.

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And he's on this as a panel,

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as an expert on the panel.

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And we start taking,

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the whole panel starts taking the talk a whole different direction.

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And by the end of it,

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he's just like laying out.

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like all kinds of like brilliant stuff,

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like super smart stuff.

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And like talking about all this stuff,

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I'm like,

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damn,

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this dude,

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this dude's good.

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And not only is he good,

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his wife is amazing too.

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And so she's speaking at my event at L8 360 in Iceland.

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She came out to the last one and they're just like a power couple.

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So I'm really looking forward to,

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to this talk today because it's going to be,

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I think pretty,

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pretty cool,

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pretty enlightening for a lot of people.

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Yeah,

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I can't wait.

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And sup Mary,

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sup.

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I just had to,

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she'll know what that means.

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Just the impact that they had.

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Luba,

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you remember Luba?

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She was at the event.

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She came to the second one and we just had,

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you were at a few weeks ago.

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And she actually,

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the first night she went,

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Mary came out and she went and cornered Mary and she talked to her for like 20 minutes.

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And afterwards,

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Luba came up and said to me,

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she said,

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you know what?

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They changed my life.

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Her and her husband.

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The last time when I was here,

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I met them.

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Some of the stuff they said to me completely changed my life and I owe a lot to them.

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So,

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I mean,

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that's the power of surrounding yourself with really smart people.

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And,

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you know,

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you just never know when someone shows up.

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We had this happen.

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We talked about another podcast.

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Someone showed up at a dinner that ended up,

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we're like,

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who the heck is this guy?

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Why is he here?

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And it turned out that he's a powerful player.

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And the same thing with our guest today.

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So this is cool.

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Yeah,

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but before we get to it,

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I don't know what's happening,

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but it sounds like either your ass is whistling or there's a wind or something that's happening.

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i got bad gas sorry that's what i thought so anytime you're listening now from now on put cushion on the on the chair to try to muffle the sound but it's just not working because when you have a fat ass you know things so

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whatever you're listening any listeners you know just think of kevin anytime you hear that especially um it's um my balcony you've been to my place and

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I'm right next to another high rise.

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I'm in a high rise.

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And right next to me,

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it's a little alleyway,

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basically 20 feet between them.

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And the wind is just howling through there.

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And it's blowing things like chairs around on my balcony.

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Literally upside.

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I can look out the window over here.

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They're upside down.

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Excuses,

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excuses.

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All right.

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Let's bring on Jason.

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There it is.

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That's better.

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Hey,

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guys.

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Hey,

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how's it going,

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Jason?

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Doing great.

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How are you guys?

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Oh,

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I'm crying a little.

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So Jason's on the podcast today.

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Jason Acevedo.

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Just in case you want to use the Googles to see who this guy is.

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Are you on the Googles?

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Dungeons and Dragons Master with the same name.

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He takes over the bulk of the listings.

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So Jason,

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what's your story?

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I mean,

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for the audience that most people hear probably like,

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who is this dude?

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Tell us a little bit of background about where you come from,

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what you do and that kind of thing just to enlighten everybody.

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So kind of the simple version is

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I started my first manufacturing company.

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I was 15 years old.

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We built it from $600 in a garage and just kind of got into making just about everything.

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Our early career was heavily kind of in the marketing and product launch space.

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So we took to market in Walmart and a bunch of the other major retailers.

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Roku was one of the bigger products that we helped originally launch.

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And then through that,

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we started manufacturing the packaging,

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the retail displays.

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Nowadays,

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we make 10 parts inside of every General Motors transmission.

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We make every dishwasher inlet hose for General Electric.

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I mean,

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it's just kind of a...

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broad swath of

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American based manufacturing companies that are,

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we've got plants throughout the U S and kind of specialize in all these different things.

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A lot of them are things that you interact with every day of your life,

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but you don't realize that they're actually being made in the United States.

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Are you seeing more manufacturing coming back to the States?

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We are seeing more coming into the States.

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One of the big changes is going on is for a long time.

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It's been cheaper to produce in the US.

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And Tim Cook from Apple's actually talked about this for years.

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But nobody was willing to,

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it was scary for a supply chain manager to start moving things into the US.

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COVID kind of acted like an accelerator when people couldn't get things out of China.

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And all of a sudden they were forced to look into US companies again.

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And that's really what kicked off the,

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just the hockey stick that's going on.

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in American manufacturing right now is once they learned that there were suppliers there,

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that they were price competitive with overseas.

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And

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I mean,

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the story of today has been what tariffs are going on,

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what's going on here.

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So we're seeing a mass increase and it's a good time to be in manufacturing.

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I remember going back to back in the

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90s,

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I wasn't 15,

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I was 18.

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I was trying to manufacture some stuff,

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and I have to go to this is before the internet.

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I have to go to the library and go to the Thomas directories.

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Yes.

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I don't know if you remember this,

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like a whole encyclopedia of manufacturers and look in there and find the page for dishwasher hose makers or whatever and be all this listing of people,

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and that's how I found people.

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And then you start doing this Amazon thing,

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and everybody is sourcing from primarily China,

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so I'm in Vietnam and a few other places,

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but primarily China.

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And then Trump in 2017.

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18,

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was it,

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or 18 implements the 25%

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tariff.

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And now he's just added the additional duties on top of it.

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So in some cases,

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it's adding 50%

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to the cost.

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And like you said,

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sometimes it's cheaper to manufacture in the U.S.

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Or even in cases in the past where it was more expensive to manufacture in the U.S.,

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by the time you added in the cost of money for waiting for it on a boat and the cost of duties and stuff,

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you're better off to pay the more expensive price in the U.S.

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than you are to bring it in.

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And then there's a lot to say about made in USA banners and all that.

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But the problem I think a lot of people have always found is most U.S.

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manufacturers tell you to F off.

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Yes.

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Unless you're going to,

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I mean,

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you go to China and he's like,

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I need to do 500 of this or a thousand of this or 2,500 of that,

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bend over backwards and take care of you.

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You do that in the U.S.,

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they completely ignore you.

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Don't return your calls.

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Don't answer anything.

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They're like,

263
00:10:33.978 --> 00:10:34.098
no,

264
00:10:34.278 --> 00:10:35.119
I'm not going to play with you.

265
00:10:35.279 --> 00:10:37.941
That sounds like my girlfriends back in high school.

266
00:10:41.864 --> 00:10:42.364
That's true.

267
00:10:44.146 --> 00:10:45.968
But so has that changed?

268
00:10:45.988 --> 00:10:46.228
I mean,

269
00:10:46.248 --> 00:10:49.150
are they now more receptive to small orders?

270
00:10:49.170 --> 00:10:50.592
Are they just not set up for that?

271
00:10:50.632 --> 00:10:53.654
They really need the big production runs to make this efficient.

272
00:10:54.075 --> 00:10:57.197
So one of the big problems in manufacturing,

273
00:10:57.197 --> 00:10:58.579
and the short answer is no,

274
00:10:58.839 --> 00:11:00.720
it hasn't changed for most firms.

275
00:11:01.341 --> 00:11:04.364
We take in a lot of smaller clients.

276
00:11:04.824 --> 00:11:06.806
We've got our mass blue chip clients.

277
00:11:07.486 --> 00:11:09.127
Because we started so small,

278
00:11:09.168 --> 00:11:13.051
we truly do believe of like getting with a brand when they're just kicking off.

279
00:11:14.212 --> 00:11:15.213
We do take them in,

280
00:11:15.353 --> 00:11:17.835
but there's a couple of holes in that.

281
00:11:19.076 --> 00:11:20.838
American manufacturing had to get super,

282
00:11:20.898 --> 00:11:24.361
super lean for a while there because they just weren't competitive.

283
00:11:24.981 --> 00:11:28.104
So one of the ways they leaned out was they got rid of all their customer service.

284
00:11:28.604 --> 00:11:35.070
So the person taking your phone call is more than likely an engineer that really doesn't want to deal with it.

285
00:11:35.522 --> 00:11:37.583
And they just don't have that,

286
00:11:37.923 --> 00:11:38.124
hey,

287
00:11:38.384 --> 00:11:41.005
let's actually work through getting this into production.

288
00:11:42.366 --> 00:11:45.328
And the other part of it is a lot of

289
00:11:46.308 --> 00:11:54.713
American manufacturing right now is being ran by people that are right about to retire or post-retirement.

290
00:11:55.193 --> 00:11:55.853
So new,

291
00:11:56.234 --> 00:12:01.156
scary take on projects that you're going to grow a client over the next five,

292
00:12:01.357 --> 00:12:01.957
six years,

293
00:12:02.777 --> 00:12:03.918
they're just not interested in it.

294
00:12:04.118 --> 00:12:04.378
Um,

295
00:12:04.678 --> 00:12:06.359
and there's really not a,

296
00:12:06.839 --> 00:12:08.500
a youth coming into the industry.

297
00:12:09.060 --> 00:12:09.300
I mean,

298
00:12:09.400 --> 00:12:09.601
every,

299
00:12:10.161 --> 00:12:11.301
every event I go to,

300
00:12:11.561 --> 00:12:13.262
I am the youngest person in the building,

301
00:12:13.402 --> 00:12:13.562
uh,

302
00:12:13.562 --> 00:12:14.483
by 20 years.

303
00:12:14.963 --> 00:12:15.983
It's that there's,

304
00:12:16.384 --> 00:12:17.444
so you're kind of,

305
00:12:17.524 --> 00:12:18.765
there's still a lot of grit there.

306
00:12:19.285 --> 00:12:20.145
Amazingly enough,

307
00:12:20.245 --> 00:12:20.365
the,

308
00:12:20.846 --> 00:12:21.766
like the Thomas guides,

309
00:12:22.166 --> 00:12:24.767
it hasn't gotten easier to find manufacturers.

310
00:12:24.807 --> 00:12:24.967
They,

311
00:12:25.408 --> 00:12:25.568
they,

312
00:12:25.728 --> 00:12:27.909
none of them have gotten better or not none of them,

313
00:12:27.969 --> 00:12:30.570
but the greater majority haven't gotten better at marketing.

314
00:12:31.815 --> 00:12:42.681
I acquire most of my companies nowadays and you'll get a website that was put together in 1999 and they haven't touched it since.

315
00:12:44.262 --> 00:12:45.803
It was a glamour purchase.

316
00:12:45.823 --> 00:12:46.464
They put it up.

317
00:12:46.824 --> 00:12:49.225
It at least shows the phone number to call.

318
00:12:49.806 --> 00:12:53.088
But it is still an industry that in the U.S.

319
00:12:53.628 --> 00:12:56.930
that it is harder to find the right manufacturer.

320
00:13:00.174 --> 00:13:00.494
What's up,

321
00:13:00.534 --> 00:13:00.854
everybody?

322
00:13:01.074 --> 00:13:01.734
Your good old buddies,

323
00:13:01.875 --> 00:13:02.835
Norm and Kevin here.

324
00:13:03.275 --> 00:13:06.056
And I've got an Amazon creative team that I want to introduce you to.

325
00:13:07.016 --> 00:13:07.516
That's right,

326
00:13:07.576 --> 00:13:07.856
Kevin.

327
00:13:08.176 --> 00:13:09.997
It's called the House of AMZ.

328
00:13:10.757 --> 00:13:17.059
And it's the leading provider in combining marketing and branding with laser focus on Amazon.

329
00:13:17.519 --> 00:13:17.639
Hey,

330
00:13:17.659 --> 00:13:17.879
Norm,

331
00:13:17.899 --> 00:13:20.100
they do a lot of really cool stuff if you haven't seen what they do,

332
00:13:20.200 --> 00:13:21.600
like full listing graphics,

333
00:13:21.800 --> 00:13:23.161
premium A-plus content,

334
00:13:23.601 --> 00:13:24.701
storefront design,

335
00:13:25.141 --> 00:13:25.721
branding,

336
00:13:25.841 --> 00:13:26.461
photography,

337
00:13:26.742 --> 00:13:27.282
renderings,

338
00:13:27.382 --> 00:13:28.182
packaging design.

339
00:13:28.646 --> 00:13:30.947
and a whole lot of other stuff that Amazon sellers need.

340
00:13:31.888 --> 00:13:32.008
Yeah,

341
00:13:32.008 --> 00:13:32.548
and guess what?

342
00:13:32.628 --> 00:13:36.010
They have nine years active in this space.

343
00:13:36.430 --> 00:13:38.051
So you can skip the guesswork,

344
00:13:38.451 --> 00:13:39.512
trust the experts.

345
00:13:39.692 --> 00:13:40.552
There's no fees.

346
00:13:40.833 --> 00:13:41.893
There's no retainers.

347
00:13:42.113 --> 00:13:43.634
You pay per project.

348
00:13:44.254 --> 00:13:46.476
So if you want to take your product to the next level,

349
00:13:46.876 --> 00:13:48.497
check out House of AMZ.

350
00:13:48.937 --> 00:13:51.198
That's houseofamz.com.

351
00:13:51.979 --> 00:13:52.619
House of AMZ.

352
00:13:57.281 --> 00:13:57.962
I wonder why...

353
00:13:59.062 --> 00:14:04.224
Somebody hasn't just taken it under their wing and developed a really good directory.

354
00:14:05.105 --> 00:14:06.645
And you're right.

355
00:14:06.705 --> 00:14:11.187
It's really tough to find a great manufacturer here because you can't find them.

356
00:14:12.188 --> 00:14:17.390
Trade shows are probably like going to trade shows or something is the only real way.

357
00:14:18.170 --> 00:14:23.473
Google who makes this in the USA and hope and pray that 1999 site shows up and they're still in business.

358
00:14:23.753 --> 00:14:23.893
Yeah.

359
00:14:24.273 --> 00:14:24.473
Well,

360
00:14:24.473 --> 00:14:26.494
and trade shows are great for it.

361
00:14:27.094 --> 00:14:27.314
I mean,

362
00:14:27.334 --> 00:14:31.397
there's a billion dollar idea in somebody creating Alibaba of the U.S.

363
00:14:32.317 --> 00:14:36.500
It's because that's how so many people are finding their manufacturers for China.

364
00:14:37.040 --> 00:14:38.481
But it's I mean,

365
00:14:39.121 --> 00:14:40.802
it just doesn't exist in the U.S.

366
00:14:41.322 --> 00:14:43.064
It's it's hard.

367
00:14:43.184 --> 00:14:47.366
It's it's an antiquated industry in its on its marketing side.

368
00:14:47.986 --> 00:14:48.126
Yeah.

369
00:14:48.126 --> 00:14:50.788
You ask most people about manufacturing in the U.S.

370
00:14:50.868 --> 00:14:53.870
They say it's dead or it just smells funny.

371
00:14:54.518 --> 00:15:08.879
you know it's it but it's still there you just have to look in certain categories some is just non-existent yeah so the us can beat pretty much any country nowadays unless the product has a couple issues

372
00:15:09.699 --> 00:15:13.861
extraordinarily high labor that cannot be done by a machine,

373
00:15:13.921 --> 00:15:15.983
which machines are getting better and better by the day.

374
00:15:16.303 --> 00:15:16.543
I mean,

375
00:15:16.543 --> 00:15:21.346
we're implementing vision systems that are accurate to 0.003 of a millimeter,

376
00:15:21.826 --> 00:15:25.928
but takes like painting little metal soldiers.

377
00:15:26.989 --> 00:15:28.409
You can't do that in the US yet.

378
00:15:30.591 --> 00:15:31.631
It's too labor intensive.

379
00:15:32.412 --> 00:15:34.813
Things that have massive environmental impacts,

380
00:15:35.553 --> 00:15:37.094
the US actually protects its land.

381
00:15:37.715 --> 00:15:38.275
A lot of the-

382
00:15:38.515 --> 00:15:59.041
countries that we're competing with they will throw acid in the ground and there's just no there's really no place for a lot of those highly highly contaminating um businesses in the us yet and then the last one is things that just don't have the infrastructure in place um one

383
00:15:59.041 --> 00:16:06.723
of the the us is extraordinarily large and our manufacturers are everywhere uh so to get a

384
00:16:07.183 --> 00:16:28.109
highly complex item you've got to go to five or six different manufacturing companies get somebody to do the final uh assembly all that we kind of counteract counteracted that because we own all the factors of production we'll put a client through one company but they're actually touching all of our plants so that you when

385
00:16:28.349 --> 00:16:34.531
products left the us they were entirely made of sheet metal or entirely made of plastic

386
00:16:35.195 --> 00:16:58.354
if you go to a store nowadays and try to find a product that is made out of one process it's almost zero so that's a redevelopment that's going on right now is being able to get american manufacturing to match where products have moved in the last 20 years because like in china you have these hubs of like if you're making a certain type of thing there's a city that specializes in that type of thing and

387
00:16:58.394 --> 00:17:04.099
so all this stuff like you just said five or six different things they're all kind of geographically close to each other

388
00:17:04.583 --> 00:17:06.764
But here it's all spread out all over the place.

389
00:17:06.764 --> 00:17:07.504
You might have a guy in

390
00:17:07.884 --> 00:17:09.985
North Carolina and you need the guy in California.

391
00:17:09.985 --> 00:17:12.006
You need the other thing from

392
00:17:12.386 --> 00:17:13.207
Michigan or something.

393
00:17:13.367 --> 00:17:14.827
And yeah.

394
00:17:15.568 --> 00:17:21.070
So this is an example that happened where you just have to think a little bit differently.

395
00:17:21.310 --> 00:17:23.091
It's just materials.

396
00:17:23.591 --> 00:17:33.215
So we had a project that we were working on where they were bringing in some wood products with sort of a rough sandpaper adhesive.

397
00:17:33.679 --> 00:17:34.440
on the top of it,

398
00:17:34.820 --> 00:17:36.281
but they were all doing it by hand.

399
00:17:36.902 --> 00:17:41.265
And we brought it back to the States and we did complete automation.

400
00:17:41.445 --> 00:17:46.149
So it was able to be built automatically and much more precise.

401
00:17:47.230 --> 00:17:48.151
And we saved

402
00:17:49.172 --> 00:17:49.432
30%.

403
00:17:50.633 --> 00:17:52.154
Then my partner,

404
00:17:53.095 --> 00:17:55.857
he took it and he had it done with resin.

405
00:17:56.658 --> 00:17:57.899
And it did another,

406
00:17:57.939 --> 00:17:58.960
I think it was another 30%

407
00:17:59.420 --> 00:18:00.181
on top of that.

408
00:18:00.601 --> 00:18:03.023
But just by being innovative,

409
00:18:03.263 --> 00:18:22.657
yeah there are ways that you can work with u.s manufacturers that can out compete uh any china product yeah and with like us because because we have that breadth of manufacturing one of the issues if you go to somebody who's got a hammer everything has to be a nail and

410
00:18:22.877 --> 00:18:31.503
being able to innovate on hey just tell me what the goal of this product is to pull off can we swap resins can we

411
00:18:31.923 --> 00:18:32.523
Can we do this?

412
00:18:32.523 --> 00:18:33.024
Can we do that?

413
00:18:33.184 --> 00:18:34.685
How can we redevelop?

414
00:18:35.285 --> 00:18:36.446
And in the last 10,

415
00:18:36.506 --> 00:18:37.227
15 years,

416
00:18:37.287 --> 00:18:38.608
just like everything else in the world,

417
00:18:40.869 --> 00:18:54.178
computers and automation and AI and all of that has come such a long way that you can really get a lot more done in kind of those focused redevelopments

418
00:18:54.198 --> 00:18:56.620
of products to get them to work the best in the U.S.

419
00:18:58.141 --> 00:18:58.881
What about natural,

420
00:18:59.021 --> 00:18:59.882
what about resources?

421
00:18:59.882 --> 00:19:00.142
I mean,

422
00:19:00.222 --> 00:19:01.023
China has...

423
00:19:01.839 --> 00:19:21.893
some of the almost all the natural resources that you need in manufacturing we have quite a bit too but still there's a lot of stuff that has to come from other places um is that the case uh or are we strong on like certain areas like steel and weak in other areas like uh i don't know some sort of ingredient or

424
00:19:21.933 --> 00:19:29.799
something so the us is the number one petroleum uh country in the world so right plastics we we we can win on

425
00:19:30.487 --> 00:19:30.787
Um,

426
00:19:31.067 --> 00:19:31.427
steel,

427
00:19:31.608 --> 00:19:37.790
we have ridiculously strong infrastructure and because most steel is steel,

428
00:19:37.830 --> 00:19:38.270
aluminum,

429
00:19:38.310 --> 00:19:38.910
all that,

430
00:19:39.011 --> 00:19:42.472
the bulk of what's being consumed nowadays is actually recycled.

431
00:19:42.852 --> 00:19:49.335
So the bulk of our steel is old washing machines that are re refined in the U S um,

432
00:19:49.475 --> 00:19:49.595
and,

433
00:19:49.655 --> 00:19:50.495
and things like that.

434
00:19:50.895 --> 00:19:54.437
So really you don't only when you're getting into specialty,

435
00:19:54.757 --> 00:19:54.877
uh,

436
00:19:54.917 --> 00:19:55.957
like if you need cobalt,

437
00:19:56.057 --> 00:19:56.658
the U S doesn't,

438
00:19:56.738 --> 00:19:56.918
uh,

439
00:19:57.378 --> 00:19:59.179
they think they just found a section,

440
00:19:59.259 --> 00:19:59.399
but.

441
00:20:00.340 --> 00:20:05.108
If you're doing like battery tech and all that kind of stuff and those kind of rare earth style things,

442
00:20:05.449 --> 00:20:06.190
that gets harder.

443
00:20:06.631 --> 00:20:07.873
But for the basis,

444
00:20:08.013 --> 00:20:11.159
the U.S.'s infrastructure for material sourcing is…

445
00:20:12.997 --> 00:20:14.557
it's incredibly strong.

446
00:20:15.698 --> 00:20:19.860
So Kevin and I sell a lot on Amazon and you know,

447
00:20:19.860 --> 00:20:22.461
there's this focus on made in America.

448
00:20:23.501 --> 00:20:26.182
Do you find that to come at a premium cost?

449
00:20:26.202 --> 00:20:28.363
Can you charge more for having made in America?

450
00:20:29.984 --> 00:20:30.104
No,

451
00:20:31.905 --> 00:20:32.125
I mean,

452
00:20:33.145 --> 00:20:33.285
there,

453
00:20:33.285 --> 00:20:35.786
there is a subset of consumers that,

454
00:20:36.947 --> 00:20:39.348
that they will pay a premium for it.

455
00:20:40.364 --> 00:20:45.048
But what it does is it will make the difference in the purchase.

456
00:20:45.568 --> 00:20:47.529
So if you're a dollar and they're a dollar,

457
00:20:47.769 --> 00:20:50.711
you will win that battle almost every time if you're made in America.

458
00:20:50.972 --> 00:20:51.712
Perceived value.

459
00:20:52.152 --> 00:20:52.333
Yeah.

460
00:20:54.374 --> 00:20:55.755
And patriotism.

461
00:20:55.775 --> 00:20:56.816
And patriotism.

462
00:20:57.056 --> 00:21:02.399
And there is a huge feeling that goes along with it.

463
00:21:03.040 --> 00:21:06.902
But the reality is you're not going to be able to get 30%

464
00:21:07.363 --> 00:21:08.984
more with the average consumer.

465
00:21:09.556 --> 00:21:13.198
Because times are tight for consumers.

466
00:21:13.658 --> 00:21:20.122
So they are going to be looking for the best perceived deal.

467
00:21:21.363 --> 00:21:21.783
I just know,

468
00:21:21.863 --> 00:21:22.143
Norm,

469
00:21:22.183 --> 00:21:22.904
if it says Maine,

470
00:21:22.964 --> 00:21:23.284
Canada,

471
00:21:23.304 --> 00:21:24.184
I want a 30%

472
00:21:24.184 --> 00:21:24.585
discount.

473
00:21:27.646 --> 00:21:28.687
Don't get me started.

474
00:21:32.469 --> 00:21:33.470
What about nearshoring?

475
00:21:33.510 --> 00:21:33.810
I mean,

476
00:21:33.970 --> 00:21:35.131
you have all these Mexican,

477
00:21:35.491 --> 00:21:36.211
I'm sorry,

478
00:21:36.672 --> 00:21:37.172
Chinese.

479
00:21:37.992 --> 00:21:53.084
factories coming in and along the borders uh putting in uh factories and stuff that are chinese manufactured and chinese run and some of in some cases are even coming into the koreans are coming into the u.s and setting up chip manufacturing uh stuff what

480
00:21:53.064 --> 00:22:06.996
are your thoughts and what's what's going on in regards to that and how does that affect things so i mean that's been going on for a long time uh it does affect things the reality is those facilities are usually you

481
00:22:07.644 --> 00:22:22.593
incredibly inefficient um they're the we actually we um have some stuff that gets made down in juarez mexico i've got a plant in el paso and we we trade it up uh for some heavy hand work style stuff um

482
00:22:23.313 --> 00:22:35.460
it's one of those things that it keeps on going back and forth take a company like general motors they'll say that they're pushing a bunch of mexico they go down to mexico while it's cheaper labor and it's

483
00:22:36.156 --> 00:22:54.769
functionally on paper looks like it's gonna be good then they come back and go wait but the American plant is still producing way more profit for us so you see it trade back and forth it is something that we keep an eye on but the with the onset of automation getting so cheap and

484
00:22:54.989 --> 00:23:05.176
so incredibly powerful things like that are it not what why pay the extra freight why not why have it be that extra headache

485
00:23:05.936 --> 00:23:11.741
So it really is just a balancing back and forth of what is the trend this week.

486
00:23:12.902 --> 00:23:14.503
And now a 25%

487
00:23:14.724 --> 00:23:14.964
duty.

488
00:23:15.644 --> 00:23:16.225
What do you think is,

489
00:23:17.366 --> 00:23:19.107
forget your political association,

490
00:23:19.888 --> 00:23:21.829
whether you like one party or another,

491
00:23:21.849 --> 00:23:23.811
but what do you think is the ultimate,

492
00:23:25.112 --> 00:23:29.896
what's going to ultimately happen as a result of what Trump has done with imposing the 25%

493
00:23:30.176 --> 00:23:30.296
on

494
00:23:30.837 --> 00:23:32.118
China, I'm sorry,

495
00:23:32.158 --> 00:23:33.319
on Canada and Mexico,

496
00:23:33.399 --> 00:23:34.540
and then adding additional?

497
00:23:35.080 --> 00:23:51.207
20 to the 25 that's already on most products coming out of china do you is that just do you just see that as just a bunch of political negotiation stuff or is that really dramatically going to affect the manufacturing of stuff in the us to receive even more coming here or what

498
00:23:51.207 --> 00:24:02.492
are your thoughts on the end result of what's going on here so and i've been talking with my teams and my customers about this a lot there's two different time windows you have to look at

499
00:24:03.236 --> 00:24:04.797
In the 12-month span,

500
00:24:05.298 --> 00:24:06.158
this is going to be the wild,

501
00:24:06.198 --> 00:24:06.639
wild west.

502
00:24:07.399 --> 00:24:08.440
Nobody knows where it's going.

503
00:24:08.500 --> 00:24:09.521
Everyone's trying to predict it.

504
00:24:10.801 --> 00:24:11.862
Do I think the

505
00:24:12.903 --> 00:24:16.105
Mexico-Canada tariffs are going to stick long-term?

506
00:24:16.305 --> 00:24:16.425
No.

507
00:24:18.767 --> 00:24:19.548
The Chinese tariff,

508
00:24:19.608 --> 00:24:22.690
because of geopolitical issues and,

509
00:24:22.990 --> 00:24:23.390
frankly,

510
00:24:24.291 --> 00:24:26.653
wanting to get money not going to that country,

511
00:24:26.773 --> 00:24:27.974
I think they are going to hold those.

512
00:24:27.974 --> 00:24:29.715
And I don't think they're going to pull back.

513
00:24:30.555 --> 00:24:30.675
And,

514
00:24:30.735 --> 00:24:31.116
frankly—

515
00:24:31.556 --> 00:24:38.539
China's starting to consume enough products internally that I think the Chinese don't have to fight it as hard as they would have,

516
00:24:38.739 --> 00:24:38.879
say,

517
00:24:39.219 --> 00:24:39.779
10 years ago.

518
00:24:42.440 --> 00:24:44.081
If you go out to 18 months,

519
00:24:44.301 --> 00:24:44.821
19 months,

520
00:24:45.082 --> 00:24:46.482
what I think you're going to start seeing,

521
00:24:46.842 --> 00:24:49.183
especially on big blue chip companies,

522
00:24:49.763 --> 00:24:54.766
is they needed a reason to make a decision where the next plants were going.

523
00:24:56.166 --> 00:24:58.267
And a plant,

524
00:24:58.707 --> 00:25:00.668
so like when we start working on a part number,

525
00:25:01.200 --> 00:25:05.946
for big multi-million unit 10-year contracts and stuff.

526
00:25:06.326 --> 00:25:08.408
That part number is in development for five or six years.

527
00:25:10.242 --> 00:25:12.983
If you've got a tariff threat sitting there,

528
00:25:13.083 --> 00:25:14.463
even if it's only for 12 months,

529
00:25:15.103 --> 00:25:18.964
that is enough to push a blue chip plant to go,

530
00:25:19.525 --> 00:25:20.005
you know what?

531
00:25:20.185 --> 00:25:21.425
We're going to go into Indiana.

532
00:25:23.226 --> 00:25:24.706
It was half a dozen here,

533
00:25:24.746 --> 00:25:27.547
six of the other.

534
00:25:27.707 --> 00:25:29.307
And we're actively watching them do it.

535
00:25:29.688 --> 00:25:30.028
Where it's,

536
00:25:30.048 --> 00:25:30.528
you know what?

537
00:25:30.988 --> 00:25:32.148
Let's not play risk here.

538
00:25:33.048 --> 00:25:38.390
We've got four years of this administration.

539
00:25:39.002 --> 00:25:56.092
that plant's going to open right about this time it's too risky for us to do it so i think you're going to see a large set of part numbers that are part numbers and plants that are going to open in the us in the next four or five years um

540
00:25:56.412 --> 00:26:06.978
and then you go a longer time period this same calculus is going to happen then again um and there what a lot of people don't realize is a lot of big blue chips

541
00:26:07.466 --> 00:26:11.507
their manufacturing plants are frankly disposable.

542
00:26:12.547 --> 00:26:17.229
They build these plants up to run this engine or this transmission,

543
00:26:17.569 --> 00:26:23.710
and then they'll shut that plant down and build the next one next to it or a couple hours away where they're seeing it.

544
00:26:24.631 --> 00:26:32.273
One of the big ones that will change this is a lot of companies are doing a lot more regional manufacturing.

545
00:26:32.913 --> 00:26:36.694
So if you know you sell a lot of trucks in the South,

546
00:26:37.342 --> 00:26:53.607
the truck plant is uh the truck plant is now in four locations in the south where you're okay i've got my i've got this product set makes a lot of sense on the east coast in the us and as those go they're a lot harder to move because they're

547
00:26:53.687 --> 00:27:01.929
now cutting that delivery time and the freight so low they can't rebound from that it's that it'll hurt the balance sheets too

548
00:27:04.806 --> 00:27:04.926
Hey,

549
00:27:04.966 --> 00:27:05.246
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550
00:27:05.286 --> 00:27:05.587
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551
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552
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553
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554
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557
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558
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560
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561
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562
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563
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564
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565
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566
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567
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568
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569
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570
00:27:53.323 --> 00:27:54.004
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571
00:27:54.444 --> 00:27:56.906
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572
00:27:57.486 --> 00:27:59.007
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573
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574
00:28:00.488 --> 00:28:01.229
8Fig.co,

575
00:28:01.669 --> 00:28:02.570
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576
00:28:03.730 --> 00:28:05.171
See you on the other side.

577
00:28:10.074 --> 00:28:13.277
It'll be interesting to see what happens with the auto industry.

578
00:28:14.998 --> 00:28:16.199
I'm in Canada and just

579
00:28:16.899 --> 00:28:19.441
18 kilometers away from me is a big

580
00:28:20.001 --> 00:28:20.602
Honda plant.

581
00:28:21.062 --> 00:28:22.163
They just announced Honda,

582
00:28:22.923 --> 00:28:23.223
I guess,

583
00:28:23.263 --> 00:28:24.384
heading down to the States.

584
00:28:24.404 --> 00:28:26.085
I don't know if it'll affect the plant or not.

585
00:28:26.486 --> 00:28:26.726
You know,

586
00:28:26.886 --> 00:28:27.486
Canadians,

587
00:28:27.926 --> 00:28:29.247
US is our biggest market.

588
00:28:29.788 --> 00:28:31.669
But what

589
00:28:32.229 --> 00:28:32.910
I'm afraid of.

590
00:28:33.750 --> 00:28:37.671
is the inflation side like when you start bringing in

591
00:28:38.912 --> 00:28:59.558
25 tariffs or you know additional tariffs on china i wonder what that's going to do um and i guess nobody's going to know like if you listen to the people marketing this uh it is a marketing question you know where does this where does this go uh down you know uh down the line somebody's

592
00:28:59.558 --> 00:29:00.698
got to pay for it you

593
00:29:01.158 --> 00:29:03.761
I see some companies saying that they're just going to absorb it,

594
00:29:04.262 --> 00:29:07.446
and then other companies are going to have to raise pricing.

595
00:29:07.446 --> 00:29:07.867
It depends on,

596
00:29:07.867 --> 00:29:08.087
I think,

597
00:29:08.567 --> 00:29:09.669
the case-by-case basis.

598
00:29:11.014 --> 00:29:11.174
Yeah.

599
00:29:11.454 --> 00:29:11.694
I mean,

600
00:29:12.034 --> 00:29:13.295
for every big win,

601
00:29:13.315 --> 00:29:14.115
there's going to be a big loss.

602
00:29:15.276 --> 00:29:19.178
And that's where the next 12 months is just going to be a roller coaster.

603
00:29:19.318 --> 00:29:19.878
You have no,

604
00:29:19.878 --> 00:29:20.398
you're not going to see it.

605
00:29:23.800 --> 00:29:26.721
You're not going to see it in any instant period.

606
00:29:27.961 --> 00:29:28.962
Most products,

607
00:29:29.122 --> 00:29:29.262
big,

608
00:29:29.822 --> 00:29:31.023
big blue chip products,

609
00:29:31.943 --> 00:29:33.344
the vendors like us,

610
00:29:33.684 --> 00:29:34.964
we've already agreed to pricing.

611
00:29:36.125 --> 00:29:38.726
So if we get an increase,

612
00:29:39.430 --> 00:29:45.432
I'm going to have to battle 18 months to the final consumer to get my price increase.

613
00:29:45.992 --> 00:29:49.593
So it's not going to be an instant thing.

614
00:29:51.794 --> 00:29:54.814
On things like Amazon where that lead time is shorter,

615
00:29:54.974 --> 00:29:59.876
I think you're going to see it more because people are importing the products every single day.

616
00:30:00.516 --> 00:30:03.237
But on a lot of the items you see at a store,

617
00:30:03.937 --> 00:30:07.558
that pricing has been locked and it's going to be locked for a long time.

618
00:30:07.598 --> 00:30:07.718
So.

619
00:30:08.118 --> 00:30:14.000
it'll come down to whether or not the retailers or the dealers start trying to take advantage of the situation.

620
00:30:14.541 --> 00:30:18.082
But the cost to produce isn't changing to the OEMs.

621
00:30:19.003 --> 00:30:22.084
It seems like there's a shift now from in the

622
00:30:22.484 --> 00:30:23.565
60s and 70s and 80s,

623
00:30:23.545 --> 00:30:25.085
we went to globalization.

624
00:30:25.685 --> 00:30:27.006
And that's when China really,

625
00:30:27.146 --> 00:30:30.547
China wasn't the world's factory until the late 80s,

626
00:30:30.567 --> 00:30:31.088
early 90s.

627
00:30:31.068 --> 00:30:34.829
And when that really started was Taiwan before that and a few other places.

628
00:30:34.889 --> 00:30:35.910
but they really,

629
00:30:35.950 --> 00:30:36.270
they put,

630
00:30:36.290 --> 00:30:36.410
they...

631
00:30:36.650 --> 00:30:52.400
made a concerted effort to actually do it and we have this whole globalization where they basically became the world's factories and a lot of people or a lot of countries are backing off on that and they're going more nationalistic now and you look at the us with semiconductors they're freaking out because all the top stuff

632
00:30:52.440 --> 00:31:02.806
is in in taiwan primarily and they're like well shoot what if china takes over taiwan then we're screwed on all these nvidia chips and all this stuff so we better go build uh

633
00:31:03.106 --> 00:31:18.875
factories in the u.s and biden put in some incentives and like here in austin there's a 30 billion dollar samsung plant being built uh in huddo just north of austin right now and there's several others around the us are you seeing that in under other industries too where people are like we got a cya and

634
00:31:18.975 --> 00:31:25.319
i and get some some of this stuff so that we're not 90 dependent on the world we're 50 50 or

635
00:31:25.739 --> 00:31:30.802
70 30 or something like that yeah i every single group that we talk to i mean i i

636
00:31:31.242 --> 00:31:32.522
I'll tell you on election night,

637
00:31:32.682 --> 00:31:32.983
I had

638
00:31:33.343 --> 00:31:35.843
Chinese companies calling me asking to take part numbers.

639
00:31:37.244 --> 00:31:39.724
As it became clear what direction it was going,

640
00:31:40.705 --> 00:31:44.586
my phone starts ringing because even other countries are like,

641
00:31:44.846 --> 00:31:45.106
shoot,

642
00:31:47.387 --> 00:31:49.467
we need to have some of our parts being made there too,

643
00:31:49.807 --> 00:31:50.607
so we stabilize it.

644
00:31:51.168 --> 00:31:52.288
The one big thing,

645
00:31:52.308 --> 00:31:53.108
and you brought up that

646
00:31:53.908 --> 00:31:56.089
China built the world's factory.

647
00:31:56.569 --> 00:31:57.429
This isn't a new thing.

648
00:31:58.009 --> 00:31:59.710
The best way to become a world power,

649
00:31:59.870 --> 00:32:02.751
is to be the number one manufacturing country in the world.

650
00:32:03.472 --> 00:32:07.313
If you look what we really did to Britain and Europe as the US,

651
00:32:07.974 --> 00:32:13.716
when we launched our industrial revolution and we started making everything they were buying,

652
00:32:14.136 --> 00:32:15.597
all of a sudden we were in charge.

653
00:32:16.978 --> 00:32:19.759
And if you look through history,

654
00:32:20.059 --> 00:32:21.159
as that's happened,

655
00:32:21.660 --> 00:32:24.521
world powers were created on the back of making products.

656
00:32:25.261 --> 00:32:26.442
And I think people...

657
00:32:26.442 --> 00:32:27.022
That's a good point.

658
00:32:28.510 --> 00:32:30.652
I think people are starting to realize that a little bit and they're like,

659
00:32:30.652 --> 00:32:30.832
ooh,

660
00:32:31.472 --> 00:32:32.953
for political reasons,

661
00:32:33.214 --> 00:32:38.937
we need to have a strong manufacturing sector.

662
00:32:38.977 --> 00:32:39.218
Yeah,

663
00:32:39.218 --> 00:32:40.118
that's a really good point.

664
00:32:40.819 --> 00:32:41.419
If you look back,

665
00:32:41.739 --> 00:32:42.640
now that I think about that,

666
00:32:44.381 --> 00:32:48.744
even the British Empire was built on shipmaking and the ability to actually do that.

667
00:32:48.744 --> 00:32:49.865
And you look at some of these others,

668
00:32:50.825 --> 00:32:53.507
you look at the Roman Empire was built on,

669
00:32:53.807 --> 00:32:56.649
it wasn't necessarily the same type of products that we have today,

670
00:32:56.669 --> 00:32:57.410
but it was built on.

671
00:32:57.690 --> 00:33:17.363
technology and information and education and all all that kind of stuff and the us is the leader in that and even look at like apple it says uh what's it say designed in cupertino manufactured in china or something like that so they're still emphasizing that that aspect but um what about like the labor cost here i

672
00:33:17.383 --> 00:33:22.426
mean that you have to balance this is another political thing with immigration a lot of the immigrants

673
00:33:22.886 --> 00:33:27.667
they come to this country are willing to work for the lower rates because that's still better than what they got back in the U S.

674
00:33:27.667 --> 00:33:29.548
And a lot of times that's who's working,

675
00:33:29.568 --> 00:33:31.549
whether it's the fields in California or it's the,

676
00:33:32.209 --> 00:33:32.329
the,

677
00:33:32.469 --> 00:33:35.770
some of these manufacturing plants and there's going to be a change in that are,

678
00:33:36.210 --> 00:33:39.471
are the regular American people willing to go into a factory and do this,

679
00:33:39.511 --> 00:33:43.992
or is it going to become all a figure robots and not robotics?

680
00:33:44.112 --> 00:33:45.553
That's going to be doing all this stuff.

681
00:33:46.593 --> 00:33:46.793
Where,

682
00:33:46.813 --> 00:33:48.013
where do you see that going?

683
00:33:48.874 --> 00:33:49.174
It's,

684
00:33:49.454 --> 00:33:49.734
I mean,

685
00:33:50.054 --> 00:33:52.437
Automation is going to,

686
00:33:52.517 --> 00:33:54.219
it has changed the game.

687
00:33:54.779 --> 00:33:57.142
When people think about American manufacturing,

688
00:33:58.704 --> 00:33:59.665
unless they live it,

689
00:34:01.587 --> 00:34:08.334
their mind always goes to like a greasy place with downtrodden workers and it's just a horrible environment.

690
00:34:08.930 --> 00:34:12.993
I don't know if you've ever seen the drone footage Tesla did of their new plant.

691
00:34:13.833 --> 00:34:16.115
It's crystal white floors.

692
00:34:16.175 --> 00:34:17.476
There's machinery everywhere.

693
00:34:17.476 --> 00:34:18.577
There's robotics everywhere.

694
00:34:18.997 --> 00:34:24.000
So the people running those machines,

695
00:34:26.282 --> 00:34:26.942
they're paid more.

696
00:34:27.603 --> 00:34:28.103
They really are.

697
00:34:28.143 --> 00:34:36.609
But they're getting an effective return on investment for that labor drastically higher than anywhere else in the world.

698
00:34:37.089 --> 00:34:38.070
so and

699
00:34:38.270 --> 00:34:40.891
Because a lot of stuff is moving to the US,

700
00:34:40.891 --> 00:34:42.032
a lot of people fear automation.

701
00:34:42.092 --> 00:34:42.212
Oh,

702
00:34:42.232 --> 00:34:43.292
that's going to take away jobs.

703
00:34:43.732 --> 00:34:43.852
No,

704
00:34:44.012 --> 00:34:52.716
it's actually increasing jobs because what it's done is it's lowered our cost to manufacture enough to be able to take part numbers back from other countries.

705
00:34:53.336 --> 00:34:57.038
So no matter how great your automation is,

706
00:34:57.058 --> 00:34:57.178
and

707
00:34:57.818 --> 00:34:59.178
Elon ran into this with Tesla,

708
00:34:59.699 --> 00:35:00.479
he automated,

709
00:35:01.459 --> 00:35:02.480
their goal was everything.

710
00:35:03.040 --> 00:35:04.921
And they ended up actually taking offline,

711
00:35:04.921 --> 00:35:05.781
I think it was like 60%

712
00:35:06.081 --> 00:35:07.682
of the robotics because

713
00:35:07.942 --> 00:35:09.003
you can't automate everything.

714
00:35:09.103 --> 00:35:10.524
Humans are incredibly important.

715
00:35:11.425 --> 00:35:14.367
I don't care what anybody's doing with AI at this point.

716
00:35:14.868 --> 00:35:22.894
There's something about getting a couple people in a room that is a completely different way of solving issues and getting things through.

717
00:35:23.975 --> 00:35:33.202
So it's a falsity to believe that because cheaper labor is coming in anywhere.

718
00:35:33.222 --> 00:35:34.784
He brought up like in the fields.

719
00:35:35.344 --> 00:35:37.686
I live on a ranch and that's kind of

720
00:35:37.986 --> 00:35:39.327
world that I'm very near and dear to.

721
00:35:40.428 --> 00:35:43.170
Do you know who the number one autonomous vehicle company is in the world?

722
00:35:44.552 --> 00:35:45.893
John Deere.

723
00:35:45.913 --> 00:35:46.033
Yeah,

724
00:35:46.053 --> 00:35:46.513
John Deere,

725
00:35:46.513 --> 00:35:47.094
the tractors.

726
00:35:49.035 --> 00:35:51.377
They're leaps and bounds ahead of everybody else.

727
00:35:53.999 --> 00:36:02.066
But the difference is they're selling a million dollar piece of equipment so they can put much better sensors and algorithms than you could into a consumer car.

728
00:36:02.766 --> 00:36:05.449
But all of that is being automated.

729
00:36:05.989 --> 00:36:06.990
Every single time.

730
00:36:07.442 --> 00:36:08.342
And frankly,

731
00:36:09.082 --> 00:36:10.583
you it's just changing.

732
00:36:10.603 --> 00:36:12.423
The factory work has changed drastically.

733
00:36:13.124 --> 00:36:13.244
Well,

734
00:36:13.244 --> 00:36:13.864
you hear that in the news,

735
00:36:13.884 --> 00:36:15.724
like the Tesla giga plant in Austin,

736
00:36:16.364 --> 00:36:20.126
when that was granted the land and some of the tax abatements and stuff.

737
00:36:20.626 --> 00:36:24.907
He was going to forget the exact number is going to bring 10,000 jobs or 12,000 jobs or whatever.

738
00:36:25.407 --> 00:36:26.827
And they've gone through a series of layoffs.

739
00:36:26.827 --> 00:36:27.488
So now it's like,

740
00:36:27.808 --> 00:36:28.748
I don't know what the number is,

741
00:36:28.768 --> 00:36:30.548
but 3000 people working out there.

742
00:36:30.808 --> 00:36:34.329
No plans to get to those numbers are promised because of the automation.

743
00:36:35.130 --> 00:36:36.230
and so the argument on the

744
00:36:36.878 --> 00:36:58.617
from the other side is like uh he's a liar and a fraud and a theft and this and that and the other well and he's just doing good business well and not even that is i don't think anybody predicted how fast automation would be changing um and how well it would be implemented i i we're looking at um some robotic uh systems right now that

745
00:36:58.697 --> 00:37:03.942
the robots actually have full vision cameras on them and they're going in and grabbing uh it's a

746
00:37:04.022 --> 00:37:06.543
150 pound part and putting it into a machine for us,

747
00:37:06.883 --> 00:37:08.743
which is currently being done by a human,

748
00:37:08.783 --> 00:37:10.544
which is incredibly taxing on their body.

749
00:37:11.304 --> 00:37:17.826
And what that has ended up creating is now I can actually put vision on the robot.

750
00:37:18.166 --> 00:37:20.186
So the parts don't even have to be in the right spot.

751
00:37:20.627 --> 00:37:25.228
It's accurate down to three microns and it's finding the stuff.

752
00:37:26.328 --> 00:37:26.608
If you,

753
00:37:27.148 --> 00:37:29.609
if you would have asked for a system like that five years ago,

754
00:37:29.729 --> 00:37:32.710
you're talking quarter million to a million dollars.

755
00:37:35.315 --> 00:37:39.036
I found one of those cameras on eBay for $8,500 yesterday.

756
00:37:40.297 --> 00:37:41.898
Have you seen the figure demo?

757
00:37:42.118 --> 00:37:42.878
It's on YouTube.

758
00:37:42.878 --> 00:37:43.718
It just came out,

759
00:37:43.738 --> 00:37:43.978
I think,

760
00:37:44.018 --> 00:37:44.519
last week.

761
00:37:45.299 --> 00:37:47.520
They got two robots next to a refrigerator.

762
00:37:47.960 --> 00:37:51.162
So there's a refrigerator to the left of one robot and another robot,

763
00:37:51.162 --> 00:37:54.083
and to the right of the other robot is a drawer,

764
00:37:54.143 --> 00:37:55.703
like a pantry drawer kind of thing.

765
00:37:56.264 --> 00:38:01.486
And they put two baskets in front of each robot with apples and eggs and milk and different things.

766
00:38:02.062 --> 00:38:03.143
The robots actually,

767
00:38:03.503 --> 00:38:07.827
each one of them took turns and they picked something out of the basket or even out of the other one's basket,

768
00:38:07.867 --> 00:38:08.388
like an apple.

769
00:38:08.508 --> 00:38:09.288
Oh,

770
00:38:09.369 --> 00:38:10.149
apple turned around,

771
00:38:10.169 --> 00:38:11.390
looked at it like you say with his vision.

772
00:38:11.831 --> 00:38:11.951
Oh,

773
00:38:11.951 --> 00:38:14.093
the apple goes over here in the pantry drawer.

774
00:38:14.093 --> 00:38:15.194
Another one picks up the milk,

775
00:38:15.414 --> 00:38:15.874
looks at it.

776
00:38:16.034 --> 00:38:16.155
Oh,

777
00:38:16.235 --> 00:38:18.617
this one goes into the refrigerator.

778
00:38:18.617 --> 00:38:23.081
It opens the refrigerator door and actually knows it goes on the top shelf because that's where it fits.

779
00:38:23.081 --> 00:38:25.243
It won't fit in the other two shelves down below.

780
00:38:25.703 --> 00:38:27.264
It was amazing where this is going.

781
00:38:27.264 --> 00:38:28.746
And you just imagine taking And that.

782
00:38:29.834 --> 00:38:53.201
basic concept and applying it to manufacturing what you can do it's mind-boggling yeah it's it's the car battle today you know if you take a look at the robots well what you had with dodge chrysler and all those car manufacturers you're going to find with the robots i don't know who's going to win it i haven't seen it they're not sophisticated enough but every house is going to have it one two,

783
00:38:53.341 --> 00:38:53.661
three,

784
00:38:54.201 --> 00:38:57.762
and it'll come down to the old Sony beta.

785
00:38:58.486 --> 00:39:11.043
or um uh beta yeah yeah exactly vhs betamax yeah yeah it's and the other part of that is is what it's creating is a lot more high paid jobs

786
00:39:12.247 --> 00:39:18.791
So this is the part that a lot of people aren't discussing because people like the inflammatory side of it is,

787
00:39:19.191 --> 00:39:19.331
oh,

788
00:39:19.371 --> 00:39:20.792
look at all these low wage jobs.

789
00:39:20.792 --> 00:39:22.633
And they're I mean,

790
00:39:22.993 --> 00:39:25.254
Apple has been begging for this for years.

791
00:39:25.815 --> 00:39:26.375
The U.S.

792
00:39:26.435 --> 00:39:30.537
does not have enough industrial manufacturing engineers.

793
00:39:31.258 --> 00:39:32.138
They simply do not.

794
00:39:32.899 --> 00:39:33.819
Those are very,

795
00:39:33.899 --> 00:39:34.880
very good paying jobs.

796
00:39:36.100 --> 00:39:36.320
When

797
00:39:37.121 --> 00:39:40.683
Apple was going to build their iPhone plant or their display plant.

798
00:39:41.247 --> 00:39:41.487
in

799
00:39:41.888 --> 00:39:42.348
Wisconsin.

800
00:39:43.409 --> 00:39:44.770
It was going to add a ton of jobs.

801
00:39:44.950 --> 00:39:46.131
Apple had mapped it out.

802
00:39:46.131 --> 00:39:50.414
It was cheaper for them to produce it in the US than it was in China.

803
00:39:50.554 --> 00:39:51.675
Foxconn was in on it.

804
00:39:52.095 --> 00:39:56.038
The government granted all sorts of concessions for it.

805
00:39:56.478 --> 00:39:57.159
It was great.

806
00:39:58.620 --> 00:40:03.203
They hit a snag that they needed people to be in that plant and run it.

807
00:40:03.843 --> 00:40:08.747
And there simply were not enough American citizens that had gone into that industry.

808
00:40:09.771 --> 00:40:10.732
And Foxconn's like,

809
00:40:10.732 --> 00:40:18.316
the only thing we can do is bring our Chinese employees and have them run the industrial engineering side of it.

810
00:40:19.176 --> 00:40:20.037
And then,

811
00:40:20.037 --> 00:40:20.497
of course,

812
00:40:20.537 --> 00:40:21.778
because of all the subsidies,

813
00:40:21.778 --> 00:40:22.198
everyone's like,

814
00:40:22.198 --> 00:40:22.318
wait,

815
00:40:22.358 --> 00:40:22.498
wait,

816
00:40:22.578 --> 00:40:24.279
all the good jobs are going to somebody else?

817
00:40:24.339 --> 00:40:24.459
No,

818
00:40:24.459 --> 00:40:24.579
no,

819
00:40:24.599 --> 00:40:24.719
no.

820
00:40:25.820 --> 00:40:29.162
So there's a huge opportunity in it right now.

821
00:40:29.442 --> 00:40:32.524
And we're seeing it where our Illinois plant,

822
00:40:33.204 --> 00:40:34.465
they work with the local high schools.

823
00:40:34.605 --> 00:40:38.667
And we were just talking about last week throwing robotics into the high school.

824
00:40:38.907 --> 00:40:42.770
to just start having these kids learn how the industrial side of it works,

825
00:40:42.830 --> 00:40:44.892
because these are really,

826
00:40:45.132 --> 00:40:50.116
really solid jobs and the market's moving incredibly fast in the robotics.

827
00:40:50.176 --> 00:40:51.777
And the cost of it is just,

828
00:40:52.278 --> 00:40:58.763
it's just going through the floor and getting intelligent people that understand the manufacturing process,

829
00:40:58.803 --> 00:41:01.305
but also the new tech that's available that,

830
00:41:01.345 --> 00:41:01.645
I mean,

831
00:41:02.766 --> 00:41:03.047
if I,

832
00:41:03.167 --> 00:41:04.448
if I were to have kids right now,

833
00:41:04.468 --> 00:41:04.848
I'd be like,

834
00:41:04.848 --> 00:41:05.008
Hey,

835
00:41:05.629 --> 00:41:06.830
this is a really,

836
00:41:06.990 --> 00:41:08.311
really good place for you to be.

837
00:41:08.927 --> 00:41:09.667
Or be a plumber.

838
00:41:09.987 --> 00:41:10.307
I mean,

839
00:41:16.969 --> 00:41:18.590
now a quick word from our sponsor,

840
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841
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842
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843
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844
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845
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846
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848
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849
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850
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851
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852
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853
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854
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855
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856
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857
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858
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859
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860
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862
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863
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864
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865
00:42:16.530 --> 00:42:20.131
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866
00:42:20.471 --> 00:42:21.091
Misfits.

867
00:42:24.832 --> 00:42:26.273
Yeah, it's the dirty jobs.

868
00:42:26.333 --> 00:42:27.593
It's the piano movers,

869
00:42:27.593 --> 00:42:28.293
the plumbers.

870
00:42:29.874 --> 00:42:31.434
That's where a lot of these people are going to lose jobs.

871
00:42:31.454 --> 00:42:33.695
Those are going to become more valuable because like you said,

872
00:42:33.895 --> 00:42:36.236
when you're the youngest guy in the room at a lot of these conventions,

873
00:42:36.757 --> 00:42:41.940
the same thing is happening now where it's the guys who are repairing telephone lines,

874
00:42:43.120 --> 00:42:43.781
they're aging out,

875
00:42:43.881 --> 00:42:45.021
they're retiring and stuff.

876
00:42:45.041 --> 00:42:46.582
And you see stuff where now they're using

877
00:42:47.323 --> 00:42:48.824
Ray-Ban metaglasses.

878
00:42:49.484 --> 00:43:01.651
And so some young whippersnapper is in the field and he puts on the glasses and he's trying to figure out the wires and he doesn't know the old man that's retired and making a little side money sitting on his lazy chair.

879
00:43:02.423 --> 00:43:23.758
sees him tells him no you need to change the red one with the green one and uh look behind over here that's where you got to do and you're seeing that kind of stuff uh happening too now yeah it's i mean the the speed that tech is infiltrating manufacturing is unbelievable um and and all all dirty jobs to begin with and the other part of it is it's

880
00:43:23.798 --> 00:43:30.283
making it safe so it a lot of those jobs the reason why you you didn't want to do them

881
00:43:31.007 --> 00:43:48.432
uh was because they're hard on your body i i mean i i brought up that 150 pound part yeah loading that thing all day long i mean first off you you drop that part and now you're gonna get yourself hurt but now if you've got something that's assisting you so all you're using is your

882
00:43:48.532 --> 00:43:54.714
human intelligence to get it to get the thing done i mean it's a whole different world than it was even 10 years ago.

883
00:43:57.635 --> 00:43:59.275
I like the leverage.

884
00:43:59.631 --> 00:44:00.312
with the safety.

885
00:44:01.033 --> 00:44:03.276
So I come from a manufacturing background.

886
00:44:03.636 --> 00:44:15.270
My father owned many manufacturing facilities and the accidents that you'd hear about either in the industry or in the different plants.

887
00:44:16.911 --> 00:44:19.914
It would be nothing because they were molding shoe components.

888
00:44:20.434 --> 00:44:21.875
For people that were there,

889
00:44:22.876 --> 00:44:23.437
inevitably,

890
00:44:23.537 --> 00:44:25.158
you'd cut your tips of your thumbs off.

891
00:44:25.198 --> 00:44:25.779
My dad did.

892
00:44:27.080 --> 00:44:33.445
Beam presses where my friend cut both of his thumbs off just because he wasn't paying attention.

893
00:44:33.886 --> 00:44:35.487
So that's not going to happen anymore.

894
00:44:35.967 --> 00:44:39.330
So these machines that I see happening,

895
00:44:39.590 --> 00:44:41.952
not only the automation is going to happen,

896
00:44:41.952 --> 00:44:44.014
the safety is going to be happening.

897
00:44:44.394 --> 00:44:44.835
but also

898
00:44:45.215 --> 00:45:00.980
over time we touched on it before you spend a lot more money but the roi that you get over time is going to be a lot better than what you have right now you like we think about cheap labor that's going to outperform those machines are going to outperform what

899
00:45:00.980 --> 00:45:11.943
you have to pay now yeah and i mean the reality is is those machines are getting so much cheaper so quickly yeah and it's i i mean just like everything else.

900
00:45:12.703 --> 00:45:12.823
the,

901
00:45:14.828 --> 00:45:16.650
When the product comes out originally,

902
00:45:16.770 --> 00:45:17.050
it's like,

903
00:45:17.070 --> 00:45:17.210
oh,

904
00:45:17.370 --> 00:45:18.231
nobody will be able to use it.

905
00:45:18.231 --> 00:45:18.831
It's too expensive.

906
00:45:18.831 --> 00:45:22.775
And you get teams and teams of people figuring out how do we make it more efficient?

907
00:45:22.815 --> 00:45:24.456
How do we get the tech to work smoother?

908
00:45:25.357 --> 00:45:27.299
And we're watching it in real time.

909
00:45:27.739 --> 00:45:29.961
And the safety is a huge component of it.

910
00:45:31.542 --> 00:45:37.387
We've got a lot of machines nowadays that have scanners scanning every millisecond,

911
00:45:37.427 --> 00:45:38.628
laser scanning the whole area.

912
00:45:39.188 --> 00:45:42.011
And it's changing the speed that the machines are running at.

913
00:45:42.311 --> 00:45:46.053
depending how close humans are getting to dangerous points.

914
00:45:46.113 --> 00:45:48.113
You said earlier with your ranch,

915
00:45:48.173 --> 00:45:49.074
with John Deere,

916
00:45:49.674 --> 00:45:51.875
I think I read something recently where John Deere,

917
00:45:52.275 --> 00:45:52.936
whatever their sales,

918
00:45:52.956 --> 00:45:54.176
it's in way into the billions.

919
00:45:55.156 --> 00:45:56.037
They're becoming,

920
00:45:56.137 --> 00:46:00.619
they're more of an IT company now than they are a tractor manufacturing company.

921
00:46:01.279 --> 00:46:01.439
Yeah,

922
00:46:02.079 --> 00:46:02.319
I mean,

923
00:46:03.920 --> 00:46:06.461
there's a reason why their largest shareholder is Bill Gates.

924
00:46:07.962 --> 00:46:10.423
It's that they are...

925
00:46:11.467 --> 00:46:15.891
They are known for putting out a absolutely wonderful product.

926
00:46:16.771 --> 00:46:19.314
And they are known now for,

927
00:46:19.774 --> 00:46:20.975
we're going to be on the cutting edge.

928
00:46:21.455 --> 00:46:23.877
And Deere's been there their whole time.

929
00:46:23.877 --> 00:46:24.198
I mean,

930
00:46:24.238 --> 00:46:26.139
they invented the steel plow.

931
00:46:26.940 --> 00:46:29.822
So that's what put their name on the market.

932
00:46:30.183 --> 00:46:37.909
They've always been a very progressive group at looking at innovation,

933
00:46:37.929 --> 00:46:38.309
innovation,

934
00:46:38.369 --> 00:46:38.930
innovation.

935
00:46:39.751 --> 00:46:40.031
and

936
00:46:40.543 --> 00:46:44.125
It just so happens you can only make a tractor so much better nowadays.

937
00:46:44.465 --> 00:46:44.685
I mean,

938
00:46:45.166 --> 00:46:46.286
they kind of got it down.

939
00:46:46.867 --> 00:46:52.550
Now it's can we make them do the job and take people out of the fields,

940
00:46:53.670 --> 00:46:55.111
take pesticides away.

941
00:46:55.131 --> 00:47:01.835
They're using scanning to individually laser burn weeds instead of putting pesticides on the ground.

942
00:47:02.315 --> 00:47:06.417
That's the cutting edge of it now.

943
00:47:06.897 --> 00:47:08.198
That's safety again.

944
00:47:08.298 --> 00:47:09.539
I live in a farm town.

945
00:47:10.075 --> 00:47:11.496
And a friend of mine,

946
00:47:11.516 --> 00:47:12.037
his brother,

947
00:47:12.837 --> 00:47:13.758
caught in a combine,

948
00:47:14.038 --> 00:47:14.779
cut his arm off.

949
00:47:15.279 --> 00:47:15.880
Another one,

950
00:47:16.400 --> 00:47:17.061
19-year-old kid,

951
00:47:17.501 --> 00:47:21.865
killed this summer because he got caught in the combine.

952
00:47:22.365 --> 00:47:22.586
And so,

953
00:47:22.686 --> 00:47:22.926
I mean,

954
00:47:23.426 --> 00:47:24.587
these farm accidents,

955
00:47:25.668 --> 00:47:26.489
the safer we go,

956
00:47:26.929 --> 00:47:29.411
the more advanced we get with these machines.

957
00:47:29.691 --> 00:47:32.053
These sensors are going to help with safety,

958
00:47:32.113 --> 00:47:33.134
especially in farming.

959
00:47:33.535 --> 00:47:33.715
Yeah,

960
00:47:34.856 --> 00:47:35.596
it's a huge push.

961
00:47:36.597 --> 00:47:38.679
and kind of circling back on that.

962
00:47:39.019 --> 00:47:55.272
cheap labor the trend is moving away where you don't want cheap labor running a million dollar machine you yeah you you you're gonna want somebody that i mean we're starting to see a lot more apprenticeship programs in manufacturing um

963
00:47:55.593 --> 00:48:07.963
because the schooling system has told a bunch of kids for 30 years only the degenerates go into manufacturing um and all of a sudden it's like no

964
00:48:09.292 --> 00:48:09.412
We,

965
00:48:09.692 --> 00:48:13.775
we're looking for very bright people because the,

966
00:48:13.775 --> 00:48:18.039
that space is completely different than it was 10 years ago or 15 years ago,

967
00:48:18.139 --> 00:48:18.739
30 years ago.

968
00:48:20.321 --> 00:48:20.441
Yeah.

969
00:48:20.461 --> 00:48:22.122
You look at the,

970
00:48:22.122 --> 00:48:22.342
I mean,

971
00:48:22.923 --> 00:48:23.783
a lot of people think,

972
00:48:24.044 --> 00:48:27.626
think about AI or quantum computing that's coming and they think about,

973
00:48:27.686 --> 00:48:27.807
oh,

974
00:48:27.867 --> 00:48:28.527
this is pretty cool.

975
00:48:28.567 --> 00:48:30.849
I can rewrite my emails or redo this and do that.

976
00:48:31.289 --> 00:48:38.015
But the biggest impact these new technology is going to have are I think on medicine and a lot of people will say on supply chain and manufacturing.

977
00:48:39.219 --> 00:48:41.540
And a lot of people don't realize they can't get their head around,

978
00:48:41.540 --> 00:48:41.660
well,

979
00:48:41.680 --> 00:48:45.502
how is AI going to affect anything on manufacturing or supply chain?

980
00:48:45.942 --> 00:48:47.583
And that's where a lot of the big things are.

981
00:48:47.583 --> 00:48:48.463
You're going to have agents,

982
00:48:48.583 --> 00:48:50.164
especially this is the year of agents.

983
00:48:50.684 --> 00:48:55.466
And you're going to start seeing more and more agents coming online in the next several years and getting more and more sophisticated.

984
00:48:56.046 --> 00:48:59.188
Where you're going to be as a back to this Amazon seller,

985
00:48:59.268 --> 00:49:01.809
I'm sourcing something instead of sourcing it from China.

986
00:49:01.849 --> 00:49:06.831
I'm going to say it's going to you're going to have an agent that goes out and sees what the opportunity is in the market.

987
00:49:07.095 --> 00:49:08.503
but based on a whole number of criteria,

988
00:49:08.845 --> 00:49:09.911
you have another agent that goes,

989
00:49:09.951 --> 00:49:10.072
see,

990
00:49:10.434 --> 00:49:11.459
what can we make this for?

991
00:49:11.908 --> 00:49:16.152
And it's going to go talk to the Thomas directory of AI or whatever and say,

992
00:49:16.212 --> 00:49:16.332
oh,

993
00:49:16.512 --> 00:49:17.733
this factory in

994
00:49:18.173 --> 00:49:20.635
Dallas, Texas can make it or this one in China can make it.

995
00:49:21.576 --> 00:49:22.817
If we put this twist on it,

996
00:49:22.877 --> 00:49:23.598
here's how we do it.

997
00:49:23.638 --> 00:49:24.559
Here's the 3D rendering.

998
00:49:24.559 --> 00:49:25.499
So there's everything already done.

999
00:49:25.499 --> 00:49:26.660
You don't have to have a person involved.

1000
00:49:27.101 --> 00:49:30.163
Just have someone sign off for it and then go see what the cost of manufacturing is.

1001
00:49:30.183 --> 00:49:33.426
Come back and a human at the top approves it.

1002
00:49:33.406 --> 00:49:40.071
And you're going to have this whole system where you're going to be able to go to market on products way faster than you did.

1003
00:49:40.472 --> 00:49:40.612
And...

1004
00:49:40.772 --> 00:49:42.693
Print-on-demand has been around for a long time,

1005
00:49:42.693 --> 00:49:48.395
and it's still a lot of people just think of it as a print-on-demand,

1006
00:49:48.395 --> 00:49:50.436
a little printer in your house making your iPhone case.

1007
00:49:50.897 --> 00:49:52.097
But there's people here in Austin,

1008
00:49:52.117 --> 00:49:54.338
there's companies making entire houses print-on-demand.

1009
00:49:55.239 --> 00:49:58.880
And there's big machinery that a lot of people don't realize exists.

1010
00:49:58.900 --> 00:50:05.884
And you're going to be able to go to market faster and more efficiently and optimize supply chain dramatically because the AI can analyze all the stuff.

1011
00:50:07.244 --> 00:50:07.985
What are you seeing on,

1012
00:50:08.305 --> 00:50:08.425
uh,

1013
00:50:08.425 --> 00:50:09.386
what do you think is coming on,

1014
00:50:09.486 --> 00:50:10.447
on that side of things?

1015
00:50:11.007 --> 00:50:11.127
So

1016
00:50:11.588 --> 00:50:14.971
I will wholeheartedly say I was one of those people.

1017
00:50:15.591 --> 00:50:15.731
Uh,

1018
00:50:15.731 --> 00:50:16.992
if you would have six,

1019
00:50:17.112 --> 00:50:17.693
nine months ago,

1020
00:50:18.394 --> 00:50:20.535
I was looking at AI and I'm like,

1021
00:50:20.836 --> 00:50:21.016
yeah,

1022
00:50:21.796 --> 00:50:24.379
I don't know where we could ever use this in our plants.

1023
00:50:24.879 --> 00:50:25.199
Um,

1024
00:50:25.239 --> 00:50:26.941
it doesn't make any sense in manufacturing yet.

1025
00:50:26.961 --> 00:50:27.881
It's not there yet.

1026
00:50:28.922 --> 00:50:29.042
Um,

1027
00:50:29.883 --> 00:50:32.826
I had one of my executives call me the other day.

1028
00:50:32.826 --> 00:50:33.006
He goes,

1029
00:50:33.046 --> 00:50:34.387
you need to see something I just saw.

1030
00:50:35.007 --> 00:50:35.488
And I'm like,

1031
00:50:35.748 --> 00:50:52.420
okay so i take the call and he gets on and we're meeting with this team they're ai specialists and we we use erp and manufacturing systems but the problem is a lot of what we do is very very strict especially in the automotive space and

1032
00:50:52.960 --> 00:51:03.508
as we're sitting there we're like hey we need an erp uh that is designed to fit this exact process that we do and you know we're just gonna be quoted

1033
00:51:03.956 --> 00:51:06.678
He puts it into one of the AI processors.

1034
00:51:07.038 --> 00:51:08.479
He codes it in three minutes,

1035
00:51:08.519 --> 00:51:11.281
and we had a launched product the next day.

1036
00:51:12.522 --> 00:51:13.663
And in that plant,

1037
00:51:16.244 --> 00:51:19.867
if we increase our cycle time by half a second,

1038
00:51:20.387 --> 00:51:22.309
we could actually start losing money on that part.

1039
00:51:22.809 --> 00:51:23.830
So now they're having

1040
00:51:24.170 --> 00:51:26.572
AI go through and figure out,

1041
00:51:27.012 --> 00:51:27.412
okay,

1042
00:51:27.592 --> 00:51:30.374
we now have the predictive analysis of when that tooling is going to go.

1043
00:51:30.794 --> 00:51:32.896
Can we now take that tooling?

1044
00:51:33.260 --> 00:51:35.321
and stop at one cycle before,

1045
00:51:35.381 --> 00:51:36.221
put the next one in.

1046
00:51:36.842 --> 00:51:42.044
And it's learning all of this based on seconds.

1047
00:51:42.264 --> 00:51:56.090
And we're fully embracing now because we didn't realize how pervasive that was going to be and how quickly it was until somebody smarter than us was like,

1048
00:51:56.490 --> 00:51:56.610
no,

1049
00:51:57.010 --> 00:51:58.811
let me show you what I can do with this.

1050
00:51:59.011 --> 00:52:00.191
And it's,

1051
00:52:00.391 --> 00:52:01.492
I were.

1052
00:52:02.056 --> 00:52:02.997
Another one of our groups,

1053
00:52:03.277 --> 00:52:05.738
the amount of resin used in something.

1054
00:52:06.819 --> 00:52:09.600
We were developing out products,

1055
00:52:09.640 --> 00:52:10.341
kitchen utensils.

1056
00:52:11.141 --> 00:52:15.244
And we were able to tell an AI to design the kitchen utensils.

1057
00:52:15.584 --> 00:52:17.345
And we had teams of regular

1058
00:52:18.205 --> 00:52:19.366
3D designers working on it.

1059
00:52:19.986 --> 00:52:21.767
And we started screwing around like,

1060
00:52:22.067 --> 00:52:22.227
hey,

1061
00:52:22.288 --> 00:52:23.828
design me five kitchenware lines.

1062
00:52:23.868 --> 00:52:26.930
And it needs to be this much plastic or less.

1063
00:52:27.751 --> 00:52:28.971
And then all of a sudden,

1064
00:52:29.171 --> 00:52:30.172
it's spitting out.

1065
00:52:30.564 --> 00:52:32.085
design after design and we're like,

1066
00:52:32.346 --> 00:52:32.506
oh,

1067
00:52:32.586 --> 00:52:33.747
this is going to be dangerous.

1068
00:52:38.010 --> 00:52:40.933
You just did what teams were doing for months.

1069
00:52:42.894 --> 00:52:43.054
Yeah,

1070
00:52:43.274 --> 00:52:44.836
it's amazing where this is going.

1071
00:52:45.076 --> 00:52:45.957
So you're a believer now.

1072
00:52:46.017 --> 00:52:46.617
You're a convert.

1073
00:52:46.777 --> 00:52:49.840
I am a whole believer.

1074
00:52:50.681 --> 00:52:53.022
I was never so happy to be proven wrong.

1075
00:52:59.164 --> 00:53:06.828
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1076
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1077
00:53:10.490 --> 00:53:11.070
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1078
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1079
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1080
00:53:28.660 --> 00:53:33.562
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1081
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1082
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You can sign up at stackinfluence.com or click the link in this video down in the description or notes below and mention Misfits,

1083
00:53:46.047 --> 00:53:48.088
that's M-I-S-F-I-T-S,

1084
00:53:48.408 --> 00:53:49.208
to get 10%

1085
00:53:49.328 --> 00:53:50.789
off your first campaign.

1086
00:53:52.010 --> 00:53:53.690
Stackinfluence.com.

1087
00:53:58.192 --> 00:54:01.314
You talked about vertical integration with what you're doing.

1088
00:54:01.354 --> 00:54:01.674
I mean,

1089
00:54:02.134 --> 00:54:04.975
you said you own a lot of the factories or you buy a lot of the factories.

1090
00:54:05.015 --> 00:54:08.057
How important is that to control that whole supply chain up and down?

1091
00:54:08.077 --> 00:54:09.878
Because a lot of people don't do that.

1092
00:54:10.198 --> 00:54:12.939
They're waiting on somebody else or they can't integrate them fully.

1093
00:54:15.130 --> 00:54:15.890
How important is that?

1094
00:54:15.970 --> 00:54:18.031
And what do you find in the efficiencies there?

1095
00:54:18.491 --> 00:54:20.172
We felt it was incredibly important.

1096
00:54:20.792 --> 00:54:30.815
And part of it kind of goes back to your earlier comment that a lot of American manufacturers tell you where to stick it when you try to sit and work.

1097
00:54:33.395 --> 00:54:34.516
We got sick of that game.

1098
00:54:34.956 --> 00:54:42.738
And so a product is probably going to have three to five processes in it now.

1099
00:54:43.622 --> 00:54:48.506
And if any one of the companies that's involved decides to be a jerk,

1100
00:54:48.946 --> 00:54:49.927
he ruins it for you.

1101
00:54:51.267 --> 00:54:57.252
So we feel it's been incredibly important for us to really be integrated.

1102
00:54:57.312 --> 00:55:04.777
And even with our clients be heavily integrated because it just takes the finger pointing away.

1103
00:55:05.778 --> 00:55:07.579
Like we play in a world of tight,

1104
00:55:07.779 --> 00:55:08.960
of tight tolerances all the time.

1105
00:55:09.500 --> 00:55:09.701
Well,

1106
00:55:09.921 --> 00:55:11.442
if my part is...

1107
00:55:11.974 --> 00:55:33.180
at the upper end of the tolerance and the other person's part is the lower end of the tolerance and the others is at the lower all of a sudden even though everybody made the right part they still don't fit together correctly and the what what ends up happening is everybody's finger pointing going well i'm right you're wrong well that doesn't do anything for the end client the client is the part to work correctly so

1108
00:55:33.980 --> 00:55:41.082
when we're just arguing with ourselves it gets a lot further because there's one singular vision um and we've gone even as far as

1109
00:55:41.634 --> 00:55:46.258
We make a brand of hangers that's exploding.

1110
00:55:47.419 --> 00:55:47.739
Really,

1111
00:55:47.799 --> 00:55:48.640
really cool product.

1112
00:55:49.741 --> 00:55:52.843
We teamed up with the founder of it.

1113
00:55:53.604 --> 00:55:54.945
He was pushing into all that stuff.

1114
00:55:55.486 --> 00:55:55.686
Well,

1115
00:55:56.326 --> 00:55:58.968
our injection molding plant is injection molding his hanger.

1116
00:55:59.649 --> 00:56:00.850
We're processing his

1117
00:56:01.611 --> 00:56:02.431
Amazon shipments.

1118
00:56:02.752 --> 00:56:04.313
We're processing all of his

1119
00:56:04.673 --> 00:56:10.338
Walmart and Target and all their retail stuff because I have a full retail team because we've worked with Walmart from…

1120
00:56:10.538 --> 00:56:12.118
30 years at that plant.

1121
00:56:12.599 --> 00:56:14.339
So we actually just came to him with a,

1122
00:56:15.199 --> 00:56:15.980
you sell it,

1123
00:56:16.160 --> 00:56:17.980
we will take care of everything else.

1124
00:56:18.080 --> 00:56:20.041
And he called me about a month ago.

1125
00:56:20.081 --> 00:56:20.421
He goes,

1126
00:56:20.961 --> 00:56:21.901
that was a godsend.

1127
00:56:21.961 --> 00:56:22.261
He goes,

1128
00:56:22.421 --> 00:56:24.282
I'm not having to route package it.

1129
00:56:24.802 --> 00:56:25.182
And we're like,

1130
00:56:25.202 --> 00:56:25.562
yeah,

1131
00:56:25.562 --> 00:56:26.803
it's just easier that way.

1132
00:56:27.083 --> 00:56:32.864
Let us take our internal knowledge bases and just get you as close to market as possible.

1133
00:56:33.945 --> 00:56:36.445
Instead of trying to figure out three PLs,

1134
00:56:36.625 --> 00:56:37.385
trying to figure out this,

1135
00:56:38.446 --> 00:56:39.106
it's just too messy.

1136
00:56:40.282 --> 00:56:44.903
So you may only manufacture something when someone comes to you with an idea and you guys figure it out.

1137
00:56:45.383 --> 00:56:47.404
Or you actually have a team on your side.

1138
00:56:47.884 --> 00:56:48.444
That's like,

1139
00:56:48.604 --> 00:56:49.024
you know,

1140
00:56:49.064 --> 00:56:54.686
some of these Chinese factories where they just come up with ideas and then go try to find someone to white label or private label it.

1141
00:56:55.226 --> 00:56:57.547
Or what's your which way do you work on that?

1142
00:56:58.007 --> 00:56:58.247
Both.

1143
00:57:00.748 --> 00:57:08.830
A lot of the private label stuff or we've got significant amount of SKUs of our private label stuff in Walmart.

1144
00:57:09.826 --> 00:57:11.627
So we're making it,

1145
00:57:11.667 --> 00:57:12.608
it is Walmart branded.

1146
00:57:13.708 --> 00:57:14.709
Our team designed it,

1147
00:57:14.789 --> 00:57:15.750
our team pushed it forward,

1148
00:57:15.750 --> 00:57:16.230
of course,

1149
00:57:17.270 --> 00:57:19.051
with the end consumer giving feedback.

1150
00:57:19.912 --> 00:57:20.772
And then we've got some stuff,

1151
00:57:20.852 --> 00:57:21.933
people just hand it to us and say,

1152
00:57:21.993 --> 00:57:22.413
make this.

1153
00:57:23.874 --> 00:57:26.135
And about 30%

1154
00:57:26.195 --> 00:57:26.776
of the time,

1155
00:57:26.836 --> 00:57:28.717
someone will just hand us a part and say,

1156
00:57:28.837 --> 00:57:29.317
make this,

1157
00:57:29.497 --> 00:57:31.018
and we'll turn back to them and go,

1158
00:57:31.658 --> 00:57:32.559
I can make this,

1159
00:57:33.159 --> 00:57:35.040
or I can make these three adjustments,

1160
00:57:35.480 --> 00:57:38.182
and you'll get more of what you were trying to get out of it.

1161
00:57:39.198 --> 00:57:42.180
And we're doing that even with in the automotive space.

1162
00:57:44.561 --> 00:57:47.962
Big blue chip automotive manufacturer comes in,

1163
00:57:48.022 --> 00:57:48.202
goes,

1164
00:57:48.202 --> 00:57:50.363
we designed this part like great,

1165
00:57:51.163 --> 00:57:54.425
but we have a way to make it better for manufacturing.

1166
00:57:54.685 --> 00:57:56.766
Will you look at our ideas?

1167
00:57:57.046 --> 00:58:00.047
And sometimes our ideas they like and sometimes they go,

1168
00:58:00.047 --> 00:58:00.167
no,

1169
00:58:00.207 --> 00:58:01.028
we designed it this way,

1170
00:58:01.088 --> 00:58:01.508
leave it that way.

1171
00:58:01.988 --> 00:58:04.449
So it's we operate on both sides of that.

1172
00:58:04.549 --> 00:58:06.550
We've got certain companies of ours.

1173
00:58:07.098 --> 00:58:07.959
that are very,

1174
00:58:08.019 --> 00:58:08.339
very

1175
00:58:09.040 --> 00:58:11.242
OEM focused where they just make what they're told.

1176
00:58:12.483 --> 00:58:16.627
And then we've got another group that if you need more of that,

1177
00:58:16.767 --> 00:58:16.967
hey,

1178
00:58:17.107 --> 00:58:19.109
let's take you through all this or you need,

1179
00:58:19.489 --> 00:58:20.891
or we're developing white label products,

1180
00:58:20.991 --> 00:58:24.074
that group focuses on it and then sends it out to the other plants.

1181
00:58:24.874 --> 00:58:24.994
So

1182
00:58:25.655 --> 00:58:28.838
I want to talk about what we discussed at Marketing Masters.

1183
00:58:28.838 --> 00:58:30.139
That was a couple of weeks ago.

1184
00:58:30.1000 --> 00:58:32.501
And I find it amazing.

1185
00:58:33.558 --> 00:58:34.219
how you grow,

1186
00:58:34.559 --> 00:58:36.600
how you expand your M&A.

1187
00:58:36.961 --> 00:58:37.201
You know,

1188
00:58:37.241 --> 00:58:37.641
you're just,

1189
00:58:38.061 --> 00:58:41.104
you're constantly looking and finding new companies,

1190
00:58:41.344 --> 00:58:43.565
executing and getting it out there.

1191
00:58:44.666 --> 00:58:46.087
You have a three-person team,

1192
00:58:46.368 --> 00:58:46.488
you,

1193
00:58:46.828 --> 00:58:47.388
your brother,

1194
00:58:47.689 --> 00:58:48.969
and I forget the other person.

1195
00:58:49.270 --> 00:58:49.710
We actually,

1196
00:58:49.730 --> 00:58:50.751
we have a four-person team.

1197
00:58:52.052 --> 00:58:53.253
We've got me and my brother.

1198
00:58:54.073 --> 00:58:56.395
One of our partners is our general counsel.

1199
00:58:57.202 --> 00:59:02.664
And another partner heads up branding and imaging stuff.

1200
00:59:04.505 --> 00:59:07.226
Our companies are ran with those four people.

1201
00:59:07.726 --> 00:59:09.947
So that's the question.

1202
00:59:10.368 --> 00:59:15.089
So we'll have e-commerce people listening and they're focusing on just one thing,

1203
00:59:15.310 --> 00:59:16.390
which isn't a bad thing.

1204
00:59:17.190 --> 00:59:23.373
How are you going out there and expanding to all these different manufacturing facilities and acquiring them?

1205
00:59:24.613 --> 00:59:25.434
So we...

1206
00:59:27.535 --> 00:59:28.235
We divvy up the work.

1207
00:59:28.315 --> 00:59:30.277
My brother bird dogs all of our dudes.

1208
00:59:30.917 --> 00:59:32.639
We've got very strict criteria.

1209
00:59:34.960 --> 00:59:36.722
When the market has a lot available,

1210
00:59:36.722 --> 00:59:37.602
which right now it does not,

1211
00:59:38.803 --> 00:59:40.544
he will be looking at 100,

1212
00:59:40.584 --> 00:59:42.546
150 companies a month.

1213
00:59:43.967 --> 00:59:44.848
Of those,

1214
00:59:45.208 --> 00:59:48.530
he'll put four or five on my desk.

1215
00:59:49.571 --> 00:59:51.112
We will go through them and go,

1216
00:59:51.473 --> 00:59:51.893
okay,

1217
00:59:52.253 --> 00:59:53.114
this makes sense.

1218
00:59:53.602 --> 00:59:55.623
We acquire about four or five a year,

1219
00:59:55.803 --> 00:59:57.264
or we did four or five last year.

1220
00:59:58.865 --> 01:00:05.809
And we're looking for very strong teams inside the company that understand their product very,

1221
01:00:05.849 --> 01:00:06.230
very well,

1222
01:00:06.670 --> 01:00:12.493
because that takes your management time from the holding company level drastically down.

1223
01:00:15.535 --> 01:00:16.376
We're looking for,

1224
01:00:17.957 --> 01:00:19.698
a lot of it's about the passion of the people.

1225
01:00:21.002 --> 01:00:24.223
We operate in a lot of small towns because frankly,

1226
01:00:24.663 --> 01:00:28.804
what we've learned is a lot of people in small towns,

1227
01:00:28.824 --> 01:00:31.045
that company is drastically more important to them.

1228
01:00:31.145 --> 01:00:36.867
It becomes part of their soul because there's not a ton of options in the area.

1229
01:00:37.427 --> 01:00:41.148
So their passion for making it successful is drastically higher.

1230
01:00:41.688 --> 01:00:43.888
And if you get passionate people that actually care about what they're doing,

1231
01:00:44.549 --> 01:00:49.170
the organization and management of them is so much smoother.

1232
01:00:49.738 --> 01:00:53.180
than trying to jam work down people's throats.

1233
01:00:55.361 --> 01:00:57.682
And the other key point that you told me,

1234
01:00:58.103 --> 01:00:59.624
and I don't know if this is for everyone,

1235
01:00:59.644 --> 01:01:01.645
but most of the acquisitions,

1236
01:01:02.665 --> 01:01:05.367
you're really not paying anything up front.

1237
01:01:05.427 --> 01:01:06.147
Is that correct?

1238
01:01:06.467 --> 01:01:06.587
No,

1239
01:01:06.707 --> 01:01:06.847
yeah.

1240
01:01:08.789 --> 01:01:10.529
We will put equity in a deal sometimes,

1241
01:01:11.670 --> 01:01:13.211
but realistically,

1242
01:01:13.511 --> 01:01:14.372
our structure,

1243
01:01:15.432 --> 01:01:16.833
we do it as leveraged buyouts.

1244
01:01:18.074 --> 01:01:18.194
So-

1245
01:01:18.914 --> 01:01:26.477
Manufacturing companies have a lot of assets and we will go leverage those assets to purchase the company.

1246
01:01:27.598 --> 01:01:30.559
And we do it all on short notes.

1247
01:01:31.499 --> 01:01:38.242
Usually three to five years is our longest note and pay off the company in three to five years and then it's healthy.

1248
01:01:39.082 --> 01:01:41.823
So you use their own money to finance the deal?

1249
01:01:42.183 --> 01:01:42.384
Yes.

1250
01:01:46.565 --> 01:01:46.685
Um,

1251
01:01:47.206 --> 01:01:47.446
it's.

1252
01:01:48.742 --> 01:02:03.755
it works it works when we are small towns norm these are small towns yeah but yeah it works and it takes finding the right deal i mean there's there are there have been companies we really want it um

1253
01:02:04.395 --> 01:02:16.826
but it didn't make sense for us to do it or there have been um we also we avoid certain industries um like we we avoid the defense industry because defense industry makes a fortune

1254
01:02:18.570 --> 01:02:35.344
three out of five years and they lose a fortune two out of five years and you it's too it's too risky um and we don't like those peaks and valleys um because it's always you always feel like a genius when you uh catch them on the up but

1255
01:02:35.585 --> 01:02:46.794
when you catch them at the top of the peak and and you learn on the back side you don't feel as smart so it's we we are we try to focus like we had a group

1256
01:02:47.366 --> 01:02:49.167
Give us a chip plant.

1257
01:02:49.167 --> 01:02:49.767
It was an organ.

1258
01:02:50.027 --> 01:02:51.127
It was a profitable plant.

1259
01:02:53.208 --> 01:02:55.429
We've made a promise that we're e-softing 100%

1260
01:02:55.429 --> 01:02:57.029
of our company to the employees.

1261
01:02:57.649 --> 01:02:59.950
So they wanted to be part of the team.

1262
01:03:00.010 --> 01:03:05.552
And my brother and I actually said no to it because the chip industry was so volatile.

1263
01:03:05.852 --> 01:03:07.152
It was so fast moving.

1264
01:03:09.173 --> 01:03:10.594
It didn't feel like the right move for us.

1265
01:03:10.654 --> 01:03:11.894
So we just didn't make the move.

1266
01:03:15.378 --> 01:03:15.618
Hey,

1267
01:03:15.718 --> 01:03:17.159
Kevin King and Norm Farrar here.

1268
01:03:17.219 --> 01:03:19.541
If you've been enjoying this episode of Marketing Misfits,

1269
01:03:19.721 --> 01:03:20.881
thanks for listening this far.

1270
01:03:21.502 --> 01:03:22.142
Continue listening.

1271
01:03:22.142 --> 01:03:23.843
We've got some more valuable stuff coming up.

1272
01:03:24.183 --> 01:03:28.586
Be sure to hit that subscribe button if you're listening to this on your favorite podcast player,

1273
01:03:28.646 --> 01:03:30.627
or if you're watching this on YouTube or Spotify,

1274
01:03:30.807 --> 01:03:35.470
make sure you subscribe to our channel because you don't want to miss a single episode of the Marketing Misfits.

1275
01:03:35.710 --> 01:03:36.571
Have you subscribed yet,

1276
01:03:36.611 --> 01:03:36.791
Norm?

1277
01:03:37.471 --> 01:03:37.631
Well,

1278
01:03:37.692 --> 01:03:39.132
this is an old guy alert.

1279
01:03:39.733 --> 01:03:41.694
Should I subscribe to my own podcast?

1280
01:03:42.810 --> 01:03:42.930
Yeah,

1281
01:03:43.050 --> 01:03:44.752
but what if you forget to show up one time?

1282
01:03:44.772 --> 01:03:45.613
It's just me on here.

1283
01:03:45.733 --> 01:03:46.694
You're not going to know what I say.

1284
01:03:47.935 --> 01:03:50.477
I'll buy you a beard and you can sit in my chair too.

1285
01:03:50.477 --> 01:03:51.097
And we'll just,

1286
01:03:51.338 --> 01:03:52.979
you can go back and forth with one another.

1287
01:03:54.360 --> 01:03:54.921
Yikes!

1288
01:03:55.781 --> 01:03:55.982
But...

1289
01:03:57.089 --> 01:03:58.130
That being said,

1290
01:03:58.710 --> 01:04:00.271
don't forget to subscribe,

1291
01:04:01.031 --> 01:04:01.452
share it.

1292
01:04:02.052 --> 01:04:02.212
Oh,

1293
01:04:02.452 --> 01:04:04.033
and if you really like this content,

1294
01:04:04.554 --> 01:04:05.554
somewhere up there,

1295
01:04:06.155 --> 01:04:06.955
there's a banner.

1296
01:04:07.095 --> 01:04:11.318
Click on it and you'll go to another episode of the Marketing Misfits.

1297
01:04:12.358 --> 01:04:15.660
Make sure you don't miss a single episode because you don't want to be like Norm.

1298
01:04:23.361 --> 01:04:24.502
You're going to have a good time.

1299
01:04:24.862 --> 01:04:27.523
You're coming with your wife to Iceland.

1300
01:04:28.144 --> 01:04:28.464
Yes,

1301
01:04:28.684 --> 01:04:30.064
we're very much looking forward to it.

1302
01:04:30.525 --> 01:04:30.705
Yeah,

1303
01:04:31.345 --> 01:04:33.066
she's speaking at Elevate 360,

1304
01:04:33.646 --> 01:04:34.706
but she told me the other day,

1305
01:04:34.806 --> 01:04:36.327
y'all are coming out a couple of days early,

1306
01:04:37.788 --> 01:04:38.748
be it BDSS,

1307
01:04:38.788 --> 01:04:40.209
for the last couple of days of that.

1308
01:04:40.909 --> 01:04:41.069
And

1309
01:04:41.409 --> 01:04:43.730
I've got to make sure I introduce you to

1310
01:04:44.170 --> 01:04:45.271
Pattern is going to be there,

1311
01:04:45.331 --> 01:04:48.152
the number one seller in the world on Amazon,

1312
01:04:48.372 --> 01:04:49.693
$1 billion in sales.

1313
01:04:50.153 --> 01:04:50.553
Very cool.

1314
01:04:51.141 --> 01:04:52.522
I had them on my other podcast.

1315
01:04:52.522 --> 01:04:53.322
It hasn't come out yet,

1316
01:04:53.342 --> 01:04:54.442
but they're masters.

1317
01:04:54.502 --> 01:04:54.783
I mean,

1318
01:04:55.103 --> 01:04:58.084
extreme masters of supply chain management and optimization.

1319
01:04:58.764 --> 01:05:00.765
And they're doing a lot of cool stuff.

1320
01:05:00.945 --> 01:05:02.246
And I think the two of you,

1321
01:05:04.326 --> 01:05:05.227
put you two together.

1322
01:05:05.447 --> 01:05:06.527
The COO is coming.

1323
01:05:07.668 --> 01:05:11.649
I think there could be some magic happen between the two of you guys.

1324
01:05:12.890 --> 01:05:20.333
And that Iceland trip might turn into a lot of zeros after for you guys.

1325
01:05:21.053 --> 01:05:35.980
uh so that that i just can see it right now yeah we're super stoked um and the the events look awesome that that when mary and i were talking like you know what it's just always a great group of people to be around why don't we get there a couple days early rub

1326
01:05:36.080 --> 01:05:47.885
off on on just just just surrounding yourself with just people doing cool things yeah it's going to be cool be a different experience in market masters but it's a whole different type of event and whole different style but

1327
01:05:48.481 --> 01:06:05.155
uh you'll get to see another side of what we do but it's just as cool but in a different way so don't forget your assless chaps it has been explained to me many times if they're not assless they're just leather pants exactly

1328
01:06:06.857 --> 01:06:16.385
that's right uh all right jason uh we're coming to the end of the podcast and at the end of every podcast we ask our misfit if they know a misfit

1329
01:06:17.425 --> 01:06:18.406
Yeah.

1330
01:06:19.227 --> 01:06:20.708
A really good friend of mine,

1331
01:06:20.748 --> 01:06:24.112
he's the world expert on sleep and his name is Michael Bruce.

1332
01:06:24.132 --> 01:06:26.013
And I think you guys absolutely love him.

1333
01:06:26.534 --> 01:06:27.275
Fantastic.

1334
01:06:27.975 --> 01:06:28.096
Yeah,

1335
01:06:28.796 --> 01:06:29.517
that'll be a good one.

1336
01:06:29.517 --> 01:06:33.921
You were telling me a little bit about him at Marketing Masters.

1337
01:06:34.462 --> 01:06:35.122
Market Masters.

1338
01:06:35.343 --> 01:06:35.843
That's it.

1339
01:06:37.705 --> 01:06:37.885
Well,

1340
01:06:37.985 --> 01:06:38.826
BDSS,

1341
01:06:38.926 --> 01:06:41.068
BDSM.

1342
01:06:42.521 --> 01:06:44.562
So if people want to reach out or learn more about you,

1343
01:06:44.582 --> 01:06:46.283
or maybe they go to manufacture something,

1344
01:06:46.303 --> 01:06:47.404
how would they go about doing that,

1345
01:06:47.404 --> 01:06:47.664
Jason?

1346
01:06:48.424 --> 01:06:50.125
Best way is my LinkedIn,

1347
01:06:50.125 --> 01:06:50.786
I can share the link,

1348
01:06:51.486 --> 01:06:53.967
or our website is mrca.net,

1349
01:06:54.428 --> 01:06:56.309
and you can get to all of our different groups from there.

1350
01:06:57.449 --> 01:06:58.090
Reach out to us.

1351
01:06:59.210 --> 01:07:02.312
And we run on pure transparency.

1352
01:07:02.432 --> 01:07:07.935
So even if somebody listening is a manufacturer and just wants to pick our brain,

1353
01:07:08.696 --> 01:07:10.977
we share pretty much everything with everybody.

1354
01:07:11.497 --> 01:07:14.938
We figured out that that just builds kind of a better community around us.

1355
01:07:15.198 --> 01:07:16.759
And so any,

1356
01:07:16.959 --> 01:07:18.179
any time I need to any place.

1357
01:07:19.339 --> 01:07:19.859
All right.

1358
01:07:20.079 --> 01:07:21.420
So I'm going to remove you.

1359
01:07:21.960 --> 01:07:22.920
We'll get right back to you,

1360
01:07:23.080 --> 01:07:25.441
but thanks so much for being on.

1361
01:07:25.461 --> 01:07:26.041
This was great.

1362
01:07:26.221 --> 01:07:27.401
Love talking manufacturer.

1363
01:07:28.122 --> 01:07:28.322
Thanks,

1364
01:07:28.362 --> 01:07:28.642
Jason.

1365
01:07:31.763 --> 01:07:32.143
All right.

1366
01:07:33.023 --> 01:07:34.083
Those guys are crushing it.

1367
01:07:34.123 --> 01:07:36.004
Four of them doing all that kind of stuff.

1368
01:07:36.044 --> 01:07:37.744
That's a very smart business.

1369
01:07:38.104 --> 01:07:38.865
Very smart business.

1370
01:07:38.945 --> 01:07:39.645
Exactly.

1371
01:07:40.105 --> 01:07:40.766
Exactly.

1372
01:07:41.086 --> 01:07:41.906
Just imagine if

1373
01:07:42.567 --> 01:07:48.591
Papa Farrar had access to the technology and the systems and stuff back when he was going.

1374
01:07:49.712 --> 01:07:50.892
You wouldn't be doing this podcast.

1375
01:07:50.892 --> 01:07:54.495
You'd be living on Farrar Island somewhere in the Caribbean.

1376
01:07:54.975 --> 01:07:55.175
Yeah,

1377
01:07:55.255 --> 01:07:56.256
I could just imagine.

1378
01:07:56.556 --> 01:07:59.798
Drinking cigars every night and drinking Coke Zeros.

1379
01:08:00.018 --> 01:08:00.819
I do that now.

1380
01:08:03.221 --> 01:08:03.541
Oh,

1381
01:08:03.741 --> 01:08:04.001
man.

1382
01:08:04.061 --> 01:08:05.862
So this was really interesting.

1383
01:08:05.982 --> 01:08:06.203
You know,

1384
01:08:06.303 --> 01:08:07.624
not so much about marketing,

1385
01:08:07.664 --> 01:08:08.084
but yeah,

1386
01:08:08.164 --> 01:08:08.624
marketing,

1387
01:08:08.924 --> 01:08:09.665
manufacturing.

1388
01:08:11.822 --> 01:08:12.242
Yeah.

1389
01:08:12.242 --> 01:08:13.043
It all plays together.

1390
01:08:13.783 --> 01:08:14.463
Absolutely.

1391
01:08:15.444 --> 01:08:15.804
All right,

1392
01:08:15.844 --> 01:08:16.144
Mr.

1393
01:08:16.204 --> 01:08:16.484
King.

1394
01:08:17.265 --> 01:08:18.326
Why don't you close this out?

1395
01:08:18.566 --> 01:08:18.746
Yeah,

1396
01:08:18.866 --> 01:08:19.366
we do this.

1397
01:08:20.367 --> 01:08:20.887
Y'all listening,

1398
01:08:20.967 --> 01:08:22.128
we do this every Tuesday.

1399
01:08:22.128 --> 01:08:23.548
So if you just found this podcast,

1400
01:08:24.369 --> 01:08:24.749
go back.

1401
01:08:24.909 --> 01:08:34.034
We've got 50-some-odd episodes of just amazing stuff from email marketing to domains to funnels to just all kinds of crazy,

1402
01:08:34.234 --> 01:08:34.915
cool stuff.

1403
01:08:34.975 --> 01:08:38.597
So check whether you're on YouTube right now.

1404
01:08:38.617 --> 01:08:38.957
Go and look.

1405
01:08:39.217 --> 01:08:55.129
in the library of videos and see see what might interest you if you're listening to this on spotify or apple there's a lot of uh episodes go in there and flag a few download them for your next plane ride uh and be sure to share if you found this interesting this episode interesting you set that share button and

1406
01:08:55.389 --> 01:08:59.292
share it with some people that are manufacturing maybe you know someone that's looking for a factory and say hey

1407
01:08:59.880 --> 01:09:16.491
i heard this guy jason uh you might want to check it out go ahead and hit that share button and remember every tuesday is a brand new episode comes out so if you want to follow us uh you can always find out the latest at marketing misfits dot i got this right now because it's colombian dot co marketing

1408
01:09:16.591 --> 01:09:28.1000
business dot co not dot com norm every time i type dot com i see some uh some swanky stuff um some other guy with a beard or something i'm like what the heck is this um marketing misfits dot co

1409
01:09:30.165 --> 01:09:30.926
That's where you go.

1410
01:09:31.647 --> 01:09:32.268
All right,

1411
01:09:32.349 --> 01:09:32.549
sir.

1412
01:09:33.390 --> 01:09:33.591
Well,

1413
01:09:33.631 --> 01:09:35.914
we will see everybody next Tuesday.

1414
01:09:36.014 --> 01:09:36.876
That's right.

1415
01:09:36.876 --> 01:09:37.357
See you later,

1416
01:09:37.417 --> 01:09:37.697
Mr.

1417
01:09:37.737 --> 01:09:37.958
King.

1418
01:09:38.498 --> 01:09:38.859
Ciao.

1419
01:09:39.760 --> 01:09:40.121
Peace.