#AskGaryVee Episode 44: The Thank You Economy & Snapchat Payments

once in a while I want
to rant about things. Airbnb going into print. A magazine I think called Pineapple. I’ve been a little off the grid.. I gotta answer this Snapcash
question and I haven’t really even played yet, so. But, a really interesting move to me, something I want to
address with everybody. I’m very fond when the
new world goes old world. I love when Warby Parker€Ž and Birchbox, an investment of mine, for disclosure, open up retail stores. I love when Airbnb makes a print magazine. CNET making a print magazine. You know, I’m one who,
you know, kind of like, pounds on traditional media. But if the cost structure is
right and the strategy is right for Airbnb, as they continue
to grow, they’re now trying to get to that final
step which is broad awareness. And a print magazine in
supermarkets across the country or Barnes and Nobles is a
way for them to get to that 45 to 75 year old that is not
as savvy, and maybe that cost of printing on trees
might bring them value. And so to me I like the
convergence of the new world going into the old world. Versus the old world
going into the new world. – [Voiceover] Tyler asks,
“Do you still think the

Thank You Economy will
self destruct in 2015? Are brands living up to your
predictions slash Thank You Economy expectations?” – Tyler, once again, and I
talk about it all the time, I think things are gonna
happen sooner than they become. My prediction in Thank You
Economy was that people would understand this and
then everybody would do it. And by 2015, it would get ruined. I am so off on that prediction
it’s borderline embarrassing. You know, DRock, I don’t know,
can you like, take my face right now and give me like, rosy cheeks? Like, can you like make
my face red right now? Because I’m so embarrassed
by how off I am. Because, two part. One, people just haven’t
adopted the Thank You Economy. And thus, if they haven’t
adopted it and scaled and ruined it, how can it be over, right? And so, it might take a lot longer. It may take forever. More importantly, the people
that do attack the world in a TYE world are getting dividends. I’m getting those emails. But it has not been the
landslide that I had hoped for the consumer. So, my prediction was obnoxiously off. One, it may not happen,
at scale because companies are just heartless and
just don’t understand the financial benefit. And listen, I’m heartless. I mean it’s all about the wallet with TYE. I mean to me, it’s, this
is how you do business. And two, it’s not enough at
enough scale or ruined yet. People are still flabbergasted
and excited when a business acknowledges
them or does something half-assed caring. – Hey Gary, this is
Kyle @JockNerd and Ruby.

She’s two and a half. And I was wondering in the
future, how are you going to treat social media with your children? Oh no, don’t hide. Say hi. Can you wave? – Oh, cute. – Hi. – Hi. – Hey. Kyle, Ruby, you know
it’s been interesting. Lizzie and I, look it’s hard
to find pictures of Lizzie on the internet. Let alone, you know, all full blast. And Misha and Xander are even more of a rare commodity. I’m not sure. I mean, obviously, I have a
partner in crime in this answer. Lizzie, is very much the
CEO of the household. I’d like to think I’m the COO. Sometimes I’m just like, you
know, the maintenance man. No, I mean, the truth is, we
communicate a lot about this. You know, I’m a counter puncher. I talk a lot about that. I react to the time. For me to predict where
social is gonna be or the technology. But what I do know is one thing. It’s amazing to watch 13
year old girl behavior where their spending 45
minutes on the lighting and the angle on a Instagram photo. And then if it doesn’t get
enough likes in the first three minutes, they take it down. So clearly self esteem is very
wrapped up in these things. And every parent loves
their child so much that you want to keep them away
from bullying and being made fun of or getting into
things too early in their lives. I have the extra pressure,
in my opinion, of deciding to raise my children in
Manhattan where an 8 year old maps more like a 17 year old in many other parts of the country. And so, it’s a challenge. And it’s something that
I think a lot about. And something I care a lot about. I’m not sure exactly how
we’re going to handle it. I think we’re going to
handle it by instilling an enormous amount of love into our children. It’s very important to us
to establish a foundation of who they are. We’ve been spending a lot of time of like, mission statements, and
like key pillars that we want to instill of how we
want them to act, how we want them to treat others
is very important to me. Imposing enormous self esteem into them is important to me.
And I think that to me, there’s new dynamics, but
it’s still always the same and what I mean by that is
the core pillars of good parenting haven’t changed
since the beginning of time. There’s new dynamics.
Those things are probably more important than ever. Having more self esteem,
more perseverance, better manners, all those
things probably matter more than ever. And so, I’m gonna just try
to deliver tried and true things to my kids, much
like I do with business. The world changes, but the
principles of patience, and believing your
people, and establishing infrastructure and playing the long game. I’ve said it before in this show, you know, a tortoise in a
hare’s costume, you know, I believe in old school things like that. So I’m just gonna instill
really good, core fundamentals and let the outside world evolve
because I can’t control it. And just instill my
children into that world, most prepared and best
positioned to succeed. – [Voiceover] Everybody
asks, “What do you think

– Alright, I get it. You want to know about SnapCash. I just watched the video. Nice job, nice production. Look, I think this continues. This is why I invested
in Venmo four years ago. The thought of payment
transfers amongst people in a paperless, cashless
world is very important. And to layer it into a social
network, what I like about it for SnapChat is they’re
getting in very early. What I mean by very early
is not into the game, very early in one’s age
to create the behavior. Because SnapChat has a heavy
13, 14, 15, 16, 17, 18, 19 year old demo, they can
capture a lot of that behavior. I always thought that Facebook,
I remember thinking that the social network I wanted
to build when Facebook was blowing it up was one that
was around your license. Because I wanted to get the people before they went to college. And I thought like, if we
start a social network where your license was your
gateway in, that there was something there and that’s
what SnapChat has done. It’s gone earlier. It creates behavior. Look, cryptocurrency, Apple
Pay, this kind of stuff with Square and SnapChat, if I’m a
traditional financial service, I’m very concerned about
the enormous innovation over the last 24 months invading on my turf. And if I’m a consumer, I’m extremely happy because competition breeds
enormous innovation. And the number one thing we love is time. And I see a lot of things
in the financial world saving us time now. Saving us time to go into
our wallet and take this out, and take out cash. Ooh, I actually have to
give a receipts to Matt. You know, so that’s good. And you know, or this,
taking out a credit card and swiping it takes time. All these things are much
quicker in this world. Speed, my friends. In sports and in business
really matters cause we value time the most. Might be time to get a watch. Question of the day. What is your number one
most recent app download.