Jack Raines

I mean, at the end of the day, how much are you really spending on that? For most people, not a ton.

But the reason that so much of the conversation focuses on in the moment discretionary spending is because if you are... an article writer, an SEO optimized article writer who's getting paid a flat rate by the article and you're churning out volume and you've got to just say something fast and move on, you're going to have a much easier time telling an audience, hey, don't go out to dinner as much.

You're going to have a much easier time telling them that than you are telling them, sublet your apartment and rent something cheaper or sell your home and buy something less expensive.

or maybe even sell your home and rent something a lot cheaper for a little while, right? Like those major fixed costs that sell your car, buy a used car, right? Those major fixed costs make a much bigger impact, but because there's higher friction, a higher hurdle, it's a tougher message.

It makes a massive, massive difference to a small business.

And it makes a massive difference to the level of productivity that you can have and the level of growth that you might be able to achieve.

And it is, you know, the writer Jack Raines recently posted something that I really resonated with.

He was like, it is an idiosyncratic, highly concentrated bet that is likely negative EV.

Yeah, it's funny you use the word idiosyncratic because I saw somebody the other day, they posted something that resonated and I know it resonated because the exact words are burned into my brain.

It was Jack Raines, who is also a former guest on this podcast.

He was talking about content creators because he works for a VC firm that invests in content.

And he talked about how a content business is an idiosyncratic, highly concentrated and likely negative EV bet.

This was the second time I think we've covered a Young Money.

Well, it's funny 'cause I don't remember YoungMoney.co, but I do remember the name Jack Raines.

So Jack- [laughs]

Yeah.

Yeah.

We, we've done...

This is the second one we've done from Jack Raines.

Yeah.

Mm-hmm.Garrett Gunderson, Tiffany Aliche, et cetera.

Jack Raines.

Am I right?

Yeah.