#AskGaryVee Episode 141: How to Raise Money for Your College Club

– [Voiceover] David asks,
“What would you do “if you were the new CEO of Twitter? “How would you turn that ship around?” – David I would do a couple things. One I would recognize that
the data that we’re collecting on a daily basis is
disproportionately valuable to a lot of real time marketers
and real time data analysts. You saw Bloomberg Twitter
JV come across the headlines for me I haven’t read it
yet but that’s exactly where I’d go putting my
money where my mouth is. I invested in the company
called Data Miner years ago that I felt Twitter would or should buy or become a big company
on the backbone of that. I would also recognize that normal people don’t understand Twitter. Twitter as a product is
not as easy to understand as Facebook and Instagram
and that is a friction point. When you look at the data
that shows how many people have signed up for Twitter
but then have not been active that’s a vulnerability. So I would hire the
single best product guy that I could, or gal,
and so product person would be very, very, very high on my list. I would not guess, I would
poach with all my ability with disproportional
economics and give them as much stock as I had to from
a Facebook or an Instagram or things of that nature. I would probably make
a very aggressive plan. I would change the logo of the bird. I would probably change it to a cat and have the cat eat the
bird as a symbolic notion to it’s a totally different company. So I think you’d need a branding play that would change the optics. So I would change the
logo from a bird to a cat. I would tell Wall Street that they should start
selling my stock now because I’m not gonna be a CEO
that’s gonna confine itself to making numbers on an
every 90 day basis and that I have empathy for that’s
how they have their business and I probably only would
have gotten the job as CEO of Twitter if I communicated
that to the board and the biggest stockholders
who then clearly, weirdly allowed me to go become the
CEO ’cause they wouldn’t care about their stock price
over a 24 month period. ‘Cause it would go way, way
down because my behavior’s more predicated on business building not so much Wall Street appeasing. So there’s a lot of
things that I would do. I would also recognize that Twitter is one of the true social networks. That the value in listening
is very big on Twitter. Whereas Instagram, Pinterest, Facebook, Tumblr they are, Snapchat,
it’s pushing content out. It’s more of a content
management system, a CMS, where Twitter has a lotta
listening capabilities. It is where you have a conversation. It is the place you go for
now when something happens in the world ’cause people wanna talk. Starting to move a
little bit in Instagram, there’s some of that behavior. But those are some of the
top line things I would do. – [Voiceover] Kamil asks,
“How would you raise money

– [Voiceover] Kamil asks,
“How would you raise money “for a college business club? “We’d love to bring more members “to a New York City competition.” – Kamil I think raising
money is all about asking. I would, let’s pretend
Steve and I were partners. Steve we need to raise more money. – Okay. – Who do you know? Do you have a rich uncle? – Yeah actually I do. – (laughs) Weird, let’s call him. And so that’s basically, that was funny, that was basically what we would do. You’d have to, what I think you need to do is you need to map the 1,000
people that you could ask. All the way from and you
know I said when uncle to hey, that kid in our school looks like he dresses extremely
well, he might have some money. Like, I’m not kidding. Raising money is called asking for money so you have to get into the
behavior of asking for money. So you map on piece a paper, hand written, you know collect the data, who
are you gonna ask for money? You start with your mother and the people that you’re closest to or for
me one of the biggest things I do in business is I start
with, you know I could think of three or four executives who I know that I could ask anything for ’cause I brought them so much value. Remember why I like jab so much? When you really need
it, it’s nice to be like hey Rick, I need a million bucks. And when Rick knows that
I’ve disproportionately put 8 million in his
pocket, he still may say no and remember if you ever read
the article I’m still okay with that but it’s nice
to know that Rick would be at the top of the list
along with Uncle Milford.

– Hey Gary, the sandwich enthusiast here. – Sale. – You talk a lot about
how video is the future of social media. How do you decide which video content goes on which video platform? And secondly, if the New
York Jets were a sandwich what type of sandwich would they be? – Ah, Jo’s. You keep answering questions, I’ll keep making sandwiches. – That’s my man Shawn. (video keeps playing quietly) Oh, you always get caught with that. That is a wonderful VaynerMedia
employee here, Shawn. Uh, ba, bum, bum, ba. You know I reverse engineer audiences. So Facebook’s incredible
and I’ve a complete hard on for Facebook because
if I wanna make a video for a 60 to 80 year old female, I know what kind of content goes there versus a 30 to 35 year old male whose a Jets fan, who lives in New Jersey. I can curse there, I can be Jersey right? Like if I’m doing a video
for 52 to 58 year old females who are fans of Joel Olsteen
and live in South Carolina it might not be the right
video to be like f- you. That,that, that might not work right? So one I love Facebook
for that ’cause I feel that gives me the whole breadth. Instagram skews 40 and under, Snapchat I get real silly,
I can be really ridiculous, the rainbows, you know and so it’s about reverse engineering the audience. Who’s gonna consume it,
where is it gonna be? Twitter because I think
it’s more news oriented, more things of that
nature so maybe a video where I’m talking about
breaking news or my thought. Like my thoughts on
Snapchat or the other day. That would’ve been a video I
would have definitely debated to go into Twitter because
so many people newsworld are hard core on Twitter
so if they saw that, they retweet it, I get distribution so it’s reverse engineering,
reverse engineering Shawn. If the Jets were a sandwich
they’d be a Sloppy Jo. (people laughing)

“you were wrong and how did you handle it?” – Kyle this is a great
question damn it Stunwin. I’m wrong a lot. I don’t talk about being wrong a lot because here’s the secret weapon. Guys it’s taken 141 episodes to get to the secret weapon. Stunwin the secret weapon
to why I am the way I am. Staphon I need massive
graphics right now. Give me some like rockets coming up here. Secret weapon (whistles)
(rocket engines roaring) I am wrong so much it’s kind of scary. But for some unknown reason, I haven’t fully quantified
this, I’m not capable of giving it much thought and actually spend zero
time post gaming it. I don’t microanalyze for hours, days, weeks, months, years and this is for some of
you out there, lives. For your whole life, you’re microanalyzing why you made that mistake. You know here’s a good mistake. I passed on Uber’s angel round
and left 200 million dollars cold hard cash out of my pocket in a world where my game is being a business man. I would argue that my biggest mistake is disproportionately bigger
than any of my victories. I just don’t you know, I’m
just not crippled by it. I have friends who passed on things and they just can’t ever
get over it, get over it. So, what was my last mistake? I probably made one in my last meeting. I’m probably making one right now. I make tons of wrong hires,
I say things that don’t sell in a meeting, I make bad investments, I make wrong strategies. I started four massive initiatives for VaynerMedia this year,
two crush, two are failing. Like, I mean, I you know, I make mistakes all day. I just don’t respect my mistakes. – [Voiceover] Best wine club asks,

“How do you define value
wine and what are a couple “of your favorites?” – The way I define value
wine is by tasting it. I have a great palate, a deeply
knowledgeable wine palate at this point I like to say so myself. But this answer’s for
anybody who’s into wine. When I taste something that I know tastes a hell of a lot better
than what I paid for it, it’s obvious to me, it’s very obvious. The Chocolate Box that we’re
selling today on Wine Library, big push, actually here comes right hook. Put the big label here
and link it up Staphon in Facebook and YouTube,
guys you should buy this wine it’s $13.88, it
tastes like it’s a $35 wine, the end, that’s value. So to me when I taste, you
know it’s like that senator who said when they were
defining pornography on the internet on Capitol Hill
and he was like I don’t know how to define it but when I see it I know what pornography is. I can’t fully define it for
you but the second I taste it, because I have context, that
scale, I know what it is. And so to me the thing that
you should be thinking about is tasting wines, if you
like them and you feel good about what you paid for it. I’ll give you a couple fun facts. So I gave you the Chocolate Box, I would say Portugal’s a great region to try a lot of value for sure. The Italian reds, there’s a
ton of value in non chianti’s, non Tuscany, non Piedmont,
there’s a lot of other stuff. But just try a lot of wines in the $8 to $15 range. It’s an incredible sweet
spot, there’s a ton of wine. And Stunwin why don’t we take this answer and this question and write an article on GaryVaynerchuk.com of
my eight, uh let’s do this, my 11 favorite wines at $11 and under. And then we’ll link it to this
and we’ll catch up with it. That was actually fun, a little
more wine once in awhile. I predicted the Jets to be
10 and six in last episode.