A Quote by Perry Marshall
This is all about knowing a market, ... and it's so thorough that even if you don't have personal experience in that market you can still go into it and find out, what are the things that people will pay money for!
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If you could distill this down to a single principle its that the best marketers in the world know MARKETS first and foremost, and secondly they're students of MARKETING. It's more important to know a MARKET than to know MARKETING, and I teach people MARKETING! And so, as far as this seminar is concerned, it's all about knowing a market, and it's so thorough that even if you don't have personal experience in that market you can still go into it and find out, what are the things that people will pay money for!
The only useful information about the market will be what I create through expeditions into the market, through testing and probing, trial and error, by selling real products to real people who pay real money.
When I say the economy is shrinking, it's the economy of the 99%, the people who have to work for a living and depend on earning money for what they can spend. The 1% makes its money basically by lending out their money to the 99%, on charging interest and speculating. So the stock market's doubled, the bond market's gone way up, and the 1% are earning more money than ever before, but the 99% are not. They're having to pay the 1%.
An old market had stood there until I'd been about six years old, when the authorities had renamed it the Olde Market, destroyed it, and built a new market devoted to selling T-shirts and other objects with pictures of the old market. Meanwhile, the people who had operated the little stalls in the old market had gone elsewhere and set up a thing on the edge of town that was now called the New Market even though it was actually the old market.
I never ask if the market is going to go up or down because I don't know, and besides it doesn't matter. I search nation after nation for stocks, asking: 'Where is the one that is lowest-priced in relation to what I believe it's worth?' Forty years of experience have taught me you can make money without ever knowing which way the market is going.
That's one of the things about the NFL is that you have small-market teams, big-market teams. I feel like the bigger market teams do kind of have an advantage in terms of off-the-field money.
The goal of a private company is, first, zero to one. Get past the product market fit, figure out whether people actually care about what you're trying to build and someone will pay you money for that. That's the zero to one problem. So scaling, one through N, is figuring out can you do that at scale and how big is the scale. And when people pay you more than what it costs for you to make it, does that equation end up leaving you with money left over, i.e. profits.
People are putting their money into treasuries because they worry that the risk of putting their money into the bond market, the stock market or even the money markets is very high.
The underlying strategy of the Fed is to tell people, "Do you want your money to lose value in the bank, or do you want to put it in the stock market?" They're trying to push money into the stock market, into hedge funds, to temporarily bid up prices. Then, all of a sudden, the Fed can raise interest rates, let the stock market prices collapse and the people will lose even more in the stock market than they would have by the negative interest rates in the bank. So it's a pro-Wall Street financial engineering gimmick.
People say what we're doing is holding out when in reality the teams are trying to crush the draft market because they don't want to pay fair market value.
If a lot of money goes into the stock market, it'll push up prices, making money for stock speculators. Then the insiders can decide that it's time to sell out, and the market will plunge.
Remember that banks aren't markets. The market is amoral. The market doesn't care who you are. You're a trade to the market. The market will sell you if they think you're riskier.
In the world where people with money overlap with restaurants and try to work out how to make more money, one of the things they talk about is the desire to find 'the new pizza.' This means a new mass-market product that can be made quickly and eaten both on the premises and as a takeaway.
The goal of a private company is, first, zero to one: Get past the product-market fit; figure out whether people actually care about what you're trying to build and someone will pay you money for that. That's the zero to one problem.
The current market cost for a space flight, about a week in space and about six people have gone with the Russians so far to the International Space Station; it costs about $30 to $35 million. So, it's not for the faint of heart. But our own market studies that we've commissioned as well as some public market studies all indicate that there are somewhere around 20 or so individuals every year who have both the means and the interest to do this. So, the market is definitely out there.
The free market hasn't done a very good job "figuring out" how to pay workers enough. If it was solely up to the market, the people with the least power would be paid pennies ... or less.
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