a subscription box service, should we buy an email list? Thanks Gary Vee. – It’s a great question, I
mean look, any time you start any business an email list,
email is one of the great ways to convert them. The answer is yes and no. Yes if it’s a quality
list that has open rates and click throughs, and
people that are interested in your cookies of the
month club because it was an email from cookie lovers. But if you buy a list that
has a million people on it, and it was part of a
photography list somewhat, or just random emails that
they found around the internet, and nobody opens it, and
they are into photography, and you’re trying to sell them
a cookie subscription thing, the answer is no, that’s a very easy play. If you wanna buy a list
from somebody, force them to do a test for interest around what you do. Force them, “I will not buy
your list unless you do this.” And it’s a presell to be on
the invite list for your up and coming business, and if
you see a bunch of people sign up for it, well now you buy. Now they may say, that’s
like selling the milk without the cow, that whole thing. You know, girl (mumbles). Like I get that, but just
say no, there’s a million lists out there, you got the leverage. They want your money, don’t forget that.

thanking you for all that you
share with us entrepreneurs or would-be entrepreneurs. So my question is that
Hulu made a decision recently to offer subscribers the option to have ad-free subscriptions and wanted to know what
your thoughts are on that. We will keep asking questions. I’m so glad that you keep answering them. Thanks Gary Vee. – You got it, thank you
for such a darling video. Loved your earrings by the way. I think it’s a smart business model. Some people value time, hate ads enough to pay for a subscription. Other people are willing
to go the other route. They don’t want to pay
for the subscription. I think giving customers
two or three options. My preference is three. I think there’s a lot of interesting psycho-data around that,
to how they want to experience a platform is very very smart. I think it lends itself
to higher profit margins, especially when you do three. And so I think that’s a
very smart move by Hulu. I do not believe that one,
especially if you’re a platform, one option is the way to go. As a matter of fact, if I
ever do a book by myself, self-publish, because I’m a free agent after this next book comes out. That’s right Harper Collins. Call me back. (laughter) I would probably do
some really interesting three different pricing models where you get different options. I think there’s interesting
dynamics around that. So I think Hulu made
a very smart decision. As a matter of fact, I haven’t
done a question of the day but I’m going to throw
one in for a little while. Just a little side question. We’d love to see how
many people would rather have one minute, well how
many ads are there in a Hulu, probably like three, two
or three minutes right? How many people are more into like, you’ll deal with the three minutes, or how many people would rather pay like the eight bucks or
whatever it is a month. – [Staphon] 13 for like the actual– – 13? – [Staphon] Eight for like the ads. – Got it. So I’m curious. – [India] YouTube just
announced theirs today. – Yep, YouTube Red. Saw that, haven’t dug in yet. But, yeah, I mean look. I think subscription
models are very smart. I think people are willing to pay for it if they get the value of the content. I think a lot of people
would pay for this show if I ever decided to convert it. Not a whole lot, but something. As another side question,
if you were to pay,

I’m very bullish on it. I don’t know if you know that
you’re talking to the person that wrote one of the first
two checks into Birchbox, angel Investor in BarkBox
in my own fund, Vayner/RSE. We incubated only three companies, BRaVe, an incredible company, Resy, an incredible company,
and our third incredible company is Faithbox. I really believe in it. I don’t know if it’s a change in behavior. You guys are young. Old timers, remember there was a Columbia house music subscription thing? Subscription models have existed forever, but what’s that pair
company, David and Harry, Harry and David, it’s
like, basket of the month, wine of the month clubs that came from it. It’s not a change. I think that it’s always been
something that we as consumers want, which is I’ll pay one
time, just have it show up. I actually think there’s
way more upside in it. I think that there’s way
more to go, and I think the brands a-la-BarkBox
that get into the lifestyle business, into the media business, have a real play, and so
I’m very bullish on it. I do not think it’s a fad. It’s clearly not a fad
because of-the-month clubs have existed for a long, long time. – [Voiceover] Shan asks,
“What is the best way

“How did you meet Willie Morris, “and what attracted you to Faithbox? – Frank, you know, Willie, Faithbox, I’m an early
early angel investor. True angel investor in
both Birchbox and Barkbox and believe in the box of
the month business model. Especially when you lay
your media on top of it, which those companies have done well. I really wanted to be in that space and really thought of like, where’s the biggest open space? What’s a big business to
be in in the box space? And, you know, religion is a big business. And so, I thought that was fascinating. It was in the back of my mind. It was brainstorming. Phil Toronto, who is a
principal at Vayner/RSE was aware of Willie through maybe a girlfriend’s girlfriend, friend. He was leaving Amazon, coming to New York, I take a lot of serendipitous meetings. We sat down. We hit it off. I thought he had the right make up. He had great hair. And we made the move. That’s about it. It wasn’t super complicated. I had an idea. Got to know him a little bit. There was some correlations on passion around that subject matter. It clicked. And away we go. And he’s really kicking it in right now. Faithbox is really looking on the up. I’m really excited about
that company right now.

– [Voiceover] Jill asks,
“One, are you gonna pursue my idea? Two, do you get a lot of quality ideas when you crowdsource a question? And three, do you crowdsource ideas more to engage with your audience or to actually get
serious ideas like mine?” – Jill, this is a great question. First and foremost, it
is not only your idea. That idea of a subscription wine thing has been going on, oh
I don’t know, for about five and a half, six, seven years now I’ve been pounded with that idea, but to answer if we’re gonna do it, the answer is I’m not sure. I’ve been getting more involved
with Wine Library lately. There’s a lot of different
objectives that I want to accomplish that are more top of list, but the Gary Vee subscription or Wine Library
subscription thing is definitely interesting, and
it’s something we’re pondering. I mean, wine of the month clubs have been around forever, and of
course, personalization, or all the other variables
you can add to it. Get it, got it, solid
idea, love your picture by the way on Instagram. Yeah, I think we get quality ideas, and more importantly, quality subjective. To me, it’s my form of listening, and so yeah, I think I get
some quality ideas at times. The truth is I, to answer the
third part of your question, do I do it to engage or am I really looking for the ideas? You know, I’m very
insularly with my ideas. I don’t like getting
ideas from other places, and so I do it more to
engage and to listen and to get a pulse and to collect, and they’re inputs, they’re lightweight. It would be rare for me to
just take Staphon’s idea, but hearing Stephon’s
idea and India’s ideas and DRock’s ideas, and Stunwin’s ideas, and just they’re all little
inputs and then it forms some version. I always feel like I gotta
put my sprinkles on it. That’s been successful for
me, so I think that I’m taking the inputs of the world. That’s why I do so much listening, so much engaging, to get to like an 85, 90% place and then I do
my thing on top of that, and that’s where the
good stuff comes from. – [Voiceover] Megan asks,
“How much of you is creating

“on subscription box services?” – Michelle, first and
foremost, congratulations. That is an adorable picture. It’s really cute, and I fully expect you and that little one to send
me a version of that picture 10 years from today since
I put you on the show, and I’d like to see it. So I’m looking forward to being surprised and trying to recall why it’s
happening 10 years from today. Big shout out to 2025. The answer to your question,
box services, look, I wrote one of the first
checks into Birchbox and was an angel investor in BarkBox. We’re incubating a business
here called Faithbox. I’m a very big fan of the
subscription box service. I think it’s the way people like to buy. We like to buy once and forget about it. I think they’re good
businesses because then, even if we get stuff we
don’t want, we don’t cancel right away. So you get an extra two
to five, seven months worth of business. That’s just the truth. And so I’m very bullish on them,
and I think that there’s innovation to be had. I think that the box was
kind of the innovation. All this is, is the month club, right? It’s just the basket of the month club. So I’ve been thinking
for a long time like, what else can I ship it in? Can it be like a balloon? Like, can it be like peanutballoon.com, where like a balloon lands
and there’s peanuts in it each month? I feel like the mechanism, the box itself has some innovation around it. I hope that idea spurred
a thought for somebody and they start a huge million-dollar
business because of it. I definitely think that
there’s a play there. As far as upping the hustle, I would say the birth of a new child is
one of the most remarkable, important moments of one’s life. And even though I’m 24/7, 365 hustle, much like I talk about,
getting plenty of sleep and vacations matter. It’s what you do when you’re awake. I wouldn’t overstress the
first one to 10 months, depending on your DNA. I would really focus on
laying the foundation of a healthy relationship
and lifestyle for your baby. You’ve got plenty of
time to pick it back up. Unless you’re a maniac like
me, then I would just say, just a little less sleep and
try to prioritize your health and vitamins and drink
water and stuff like that. Don’t eat weird food
that makes you throw up for seven hours the next morning. And that’s it. Question of the day.