#AskGaryVee Episode 181: The Future of Instagram, Employee Turnover & How to Make Money as a Teen

“Instagram in the next 2-3 years from now?” – I think that Instagram will be easily one of the top two social
networks in America and globally will be a major force. I think that Facebook and
Snapchat are the only two things that compete with it. And I think that anybody who right now isn’t spending a
disproportionate amount of time trying to figure out the hashtag culture, the Instagram ad product, the
organic Instagram posting, working with Instagram influencers
is making a huge mistake to not set their business off properly in a 2018-2019 world. So massively bullish all-in. It’s one of the biggest
reasons I think all of you whether you can only afford one
share or a thounsand shares. I think Facebook does extremely well because of the revenue that we haven’t even seen the real revenue
come in from Instagram yet. It’s a beast. It is the current social
network of the moment for 28 to 40 coast Americans. 22 to 35 other parts of America. And I just think it’s an
incredibly important platform and I’m very very bullish on it. And as somebody who daytrades attention, by the way we have to write
my daytrade attention article. It’s time. I think it’s massively important. I’m buying it now. I don’t predict for two years
but that’s my intuition. And by the way here’s a good
time to chop this in DRock. Show this. Facebook acquires Instagram. Oh Staphon. – Gary Vaynerchuck who’s the
co-founder of VaynerMedia back in January predicted
the purchase of Instagram by Facebook and today Facebook
founded by Mark Zuckerberg shelled out a billion dollars
for that very service. That was when I was on the
Piers Morgan show on CNN the day Facebook bought Instagram. I made that comment,
and everybody on Twitter said I was an idiot because
Instagram’s only 500 days old. But Zucks did– Instagram’s probably worth
50 billion dollars right now, maybe more. So when you buy it for one, you did well because those are billions. You know it’s not just a 50x. When you 50x eight bucks, it’s nice to have 400 bucks. When you 50x a billion, that’s 11 Jets teams.

computer I’m not sure her yes I mean you
know I can’t just give those kind of answers on the show because there are so
few answers ever in history who knows about what to do now scared you book to
the desktop I mean I think you know the team either the TV the radio what’s the
desktop like the biggest magazines and print articles in The Wall Street
Journal your time Sports Illustrated and time magazine in 1992 with a media thing
but the phone is just a proxy to the internet it’s the delivery mechanism so
really you know what you know what actually I got a much better on see this
is why I took it the desktop computer or the laptop was the black and white
television the mobile devices the color television possible delivering the
internet at the internet that is what i’m talking about the phone just happens
to be telling you we don’t do that question so what is the
next like that no no that’s what i think is a commercial real estate like well at
home is just like we will try to get the

selling things its way into a snapchat
insurance pet insurance really happening i mean there are kids on Instagram
making banks in sneakers like tens of that much money I would make if I was
born during this era they thought was if I was 13 to go to the store and I am a
licensed like Mumbai shit and then flip chip three weeks later on a Saturday by
real-time marketplace dynamics and I could buy stuff my poor my mean UPS and
FedEx Cup one of my homies coming in and out like ridiculous so
Instagram and snapshot that’s where other teenagers are spending their time
and I do believe that most teenagers best opportunity to sell shares to sell
to other teenagers of course they can sell to other demos but I think the
biggest upside there and I only know this you know the only reason really why
it’s so quickly as I know dozens of kids dozens which is a lot of the top of my
don’t have kids making thousands of dollars slinging sneakers and I just
sneakers I mean I’ve seen the video games cuz I like that for you know video
games there’s a lot of opportunity instruments apiece for selling stuff Philip asks when you go out for some
drinks how many do you have and still

“how many do you have and
still stay productive “the next day?” – Phillip I don’t drink that much. Though it’s funny I actually
said this the other day in a conversation about my life which was I don’t think I
would’ve ever drank alcohol, just like a lot of people
reacted to the fact that on the show the other day, or somewhere. DailyVee or whatever
I said that you know I’ve never done any drugs, I’ve never even smoked a cigarette. I don’t think I would’ve
ever drank alcohol. I didn’t have my first
beer until I was 19. And I probably drank like 20 of them. Like I used to, talk about
milking a beer at a party. Like when you were 20. My shit was like not warm,
it was like a hot spring. Like I don’t really love alcohol. I learned to love wine. I weirdly started liking
really well made mixed drinks. Like the bartender culture
of New York helped that. So like bourbon, things of that nature. But I don’t love alcohol. What was the question? How many drink? You know what actually does get me drunk? The last few times I’ve been drunk. Sake. I love sushi so much. It’s in such little portions and usually when I have
sushi, for some weird reason it’s usually a Friday or Saturday night and I’m usually with Lizzie
or very close friends so I’m more relaxed and I go. And sake gets me twisted. But besides that I don’t know. By the way, right now
I’m on a hardcore diet. I don’t know if you guys have noticed but I’ve lost a good 5 pounds
in the last three weeks. Have you noticed a little bit India? – Yeah. – Thank you. And so yeah I really have
to say that nothing really gets me excited about drinking alcohol. It’s not really something
that’s part of my culture so I’ll drink a glass of wine or two when I’m not in this hardcore diet stuff. And it’s super easy to be productive because I grew up. From 22 to 30 I was
tasting 100 wines a day. My tolerance is stunningly
through the roof because of that. So yeah that’s it. – It’s probably also
stemmed from drinks meeting,

industry is the high turnover normal
high turnover my industry agency life is because most companies are owned by
holding companies who are required so there’s four major holding companies and
advertising they’d consolidated bought up all the agencies in the DS big
billion dollar conglomerate said I don’t know everything about excitement I
really studied it but they’re big holding companies which tell companies
like being a media Greek companies like 72 and sunny great deal shop and TV shop
like 05 just got celebrate company these great couple 360 I carried out by Vice
thrown by holding companies who tell their CEOs got you know usually the guy
or gal that looks like me that’s all the company for a lot of money to get up
front but it turned out and then you’re locked in because have your money is
going to come after four years ago to keep the job golden handcuffs cool if
you don’t know what I mean and so they tell them you have to run
your company in a 27 percent gross margin or 23% course you know if I had
to do that tomorrow because I want to be cash out at least 500 people and then
what happens is the inevitable thing that looks like this you know you have a
superstar youngster that’s growing up within the organization and you guys are
so many have gone from you know making very little to making more and more and
more right you never really don’t promote them for a year or two because
he can’t afford to be the only rule is you gotta make 23.7% gross profit the
only rule and so there isn’t a huge turnover is because the best people
don’t get compensated fast enough nobodies who r up nobody who is running
the company has long-term ambitions because they’re they’ve already sold out
and their only try to stay there for three or four more years and maximize
their bonuses and their money so they’re making the decision and said anything
like everything stems from top 20 we see on the show and why said yesterday from
the whole company everything is my fault and that’s true in these scenarios and
so is it company I’m able to do what I’m doing
cause I want to build an evergreen company for ever and so I’m able to
treat I’m able to deploy meritocracy and if that comes at my expense it comes in
my short-term expense but fifteen years from now out of happiness and financial
win so that’s why that’s happening and the work done so because they don’t want
to pay because they run a margin they do a lot of things they don’t compensate
people probably they leave they burn good people to the ground you know you know what goes on here i
mean you’re in the trenches it’s something that a hardcore account that
stop you know we should get them out of there a year later cause I’m just dying
but those companies don’t usually do that because they just need to maximize
and it’s actually incentivize to let you quit like for less and you know so that
so the question was normal because most of the most of the companies are victim
again that creates a scenario for high turnover and so in general I’m trying to
push you guys hundred-to-one episodes deep have you been along the rider 28
percent or visit our first episode the concept of the show is to always
level of the thinking around business and entrepreneurship this is an insult
to why it happens right everything stems for top always and forever I promise you
your manager who suck scrap the fault of that situation is the CEO always been
the CEO says it’s useful but question of do you like your CEO you keep asking
questions keep answering what we doing