02:19:21 · John Coogan, Marcus Milione
[02:19:21] S0: Yeah. And the worst CPMs you'll ever have are when you're you know, there's no brand awareness. Like, every year you delay that, it gets the economics probably get stronger and the TAM gets even bigger. Mhmm. How are you thinking about bots? What what what is a do not buy decoy listing? Explain to me like how all this fits together in the modern era. [02:19:41] S4: Yeah. So, I mean, when when their shoe is anticipated in that way, like we saw it with the Speed four, which was the first shoe we released. We got slammed with the bots. And, you know, it's people submitting orders for 30 pairs. They want to resell them a lot of the time. And so this time, I took to Twitter before the release and and called upon people who either like bought it in the past or are current botters to try to get a little focus group together to figure out how I could jam up the bots. So I'll give you the sauce on what I did. I had those two decoy listings on there because I guess, you know, the bots don't look at the screen. They're just going right to checkout. And so I had those be the correct listing, naming structure, everything. And then the real listing, the one with the green border, had none of the real terminology associated with the shoe on the listing or in the the kind of like the metadata. And it seemed to work. I would say, you know, like 99% of the orders were manual. Some people did bought it, but it was very easy to catch and then go ahead and cancel those orders.
02:19:41 · Marcus Milione, Jordi Hays, John Coogan, Tae Kim
[02:19:41] S4: Yeah. So, I mean, when when their shoe is anticipated in that way, like we saw it with the Speed four, which was the first shoe we released. We got slammed with the bots. And, you know, it's people submitting orders for 30 pairs. They want to resell them a lot of the time. And so this time, I took to Twitter before the release and and called upon people who either like bought it in the past or are current botters to try to get a little focus group together to figure out how I could jam up the bots. So I'll give you the sauce on what I did. I had those two decoy listings on there because I guess, you know, the bots don't look at the screen. They're just going right to checkout. And so I had those be the correct listing, naming structure, everything. And then the real listing, the one with the green border, had none of the real terminology associated with the shoe on the listing or in the the kind of like the metadata. And it seemed to work. I would say, you know, like 99% of the orders were manual. Some people did bought it, but it was very easy to catch and then go ahead and cancel those orders. [02:20:56] S1: Wait. What was on the decoy pages though? You should've you should've sold like sand for like 1,000, you know, like had [02:21:03] S4: it so that the the shoes were like 10,000 pounds. You couldn't get a shipping rate because they were so heavy. [02:21:09] S0: Oh, interesting. [02:21:10] S3: So you would get [02:21:10] S1: to check out and [02:21:12] S4: then the whole thing would break. [02:21:14] S1: Oh. Is brilliant. It's really clever. I feel
02:21:14 · Jordi Hays, John Coogan, Marcus Milione
[02:21:14] S1: Oh. Is brilliant. It's really clever. I feel [02:21:17] S0: like this cat and mouse game is gonna go on forever. [02:21:19] S1: Yeah. It's such a it's such a yeah. Having having like hype and and way more demand than supply is like the you know, it is a is a blessing for for a brand. But it is such a, it's such an interesting challenge because you wanna get your product you don't benefit at all from shoes selling at two, three times whatever it is in the secondary market. And so, like, your entire focus has to be on, like, how do you get the shoes to the actual people that are a part of building this brand with you? And it's there's probably, like, a has anybody built, like, software to help with this? It's a pretty niche problem because most brands are like, we'd be happy to sell out with bots immediately. But it feels like there's like a software product there. [02:22:05] S4: You can go the raffle route where like, you know, you can collect entries and like pre charge cards a dollar, and then if they win the raffle. I think like people like the idea of first come, first serve, and if you get in there, you enter your card information, you get past the age captcha, like you are rewarded with the shoe. And the the raffles I've I in talking to a bunch of people who buy sneakers and are a part of of that stuff, they it just takes a lot of the fun away from releases like that. So try to keep it as pure as possible.
02:22:05 · Marcus Milione, Jordi Hays, John Coogan
[02:22:05] S4: You can go the raffle route where like, you know, you can collect entries and like pre charge cards a dollar, and then if they win the raffle. I think like people like the idea of first come, first serve, and if you get in there, you enter your card information, you get past the age captcha, like you are rewarded with the shoe. And the the raffles I've I in talking to a bunch of people who buy sneakers and are a part of of that stuff, they it just takes a lot of the fun away from releases like that. So try to keep it as pure as possible. [02:22:42] S1: How are you thinking about NVIDIA earnings? Know? John John, you're you're you're laughing, but Marcus has a dedicated account where he just talks about Marcus. [02:22:51] S0: Yeah. But he's been live with us while the earnings dropped. I don't know. [02:22:54] S4: Does anyone have any numbers? Yes. [02:22:57] S0: Being on top line and bottom line, EPS of one eighty seven. Revenue came in at 81,600,000,000, double b, and the stock's down 2.4%. No. It's popped back up maybe. I don't know. It's jumping around. Just [02:23:11] S1: as Taycan predicted.
02:23:11 · Jordi Hays, John Coogan, Marcus Milione
[02:23:11] S1: as Taycan predicted. [02:23:13] S0: PlanTrust are over there. NVIDIA earnings live. Are there any IRL events that are small right now that you think have the the seeds or showing promise of becoming the next, you know, run club? Like, we went through, like, the Padel and pickleball booms and the the I'm I'm wondering if you're tracking anything that feels like could be a source of communities in cities, something outdoors, or I I don't know. Anything in that realm that's, like, run club shaped that's really small right now but shows like, oh, there's some deep interest there. I I that might go somewhere. I don't know where, but it's at least showing popping up on your radar now. [02:23:58] S4: You know, I I don't know if I'm, like, the best answer to answer that question. I I'm not too sure. I stick to running. [02:24:06] S0: Yeah. [02:24:06] S4: I see people go on group bike rides, and they seem like a lot of fun. You know? You go on a 50 mile ride, you stop halfway, get a coffee and a donut with your friends, and then you bike back, and it's like, you know, you're exercising. You're out in nature. That I don't have a bike, so I can't participate. But Yeah. If I were to do another group activity outside, it would probably be that. [02:24:26] S0: Jordy's been getting really into the LARPing, the live action role playing where you dress up in a [02:24:30] S1: park. Go to the park. [02:24:31] S0: Suit of armor, each other with swords and flails.
02:24:31 · John Coogan, Jordi Hays, Marcus Milione
[02:24:31] S0: Suit of armor, each other with swords and flails. [02:24:35] S1: I haven't been getting into it personally but I've been sending you videos of There's some I'll send I'll send you after this. There's there's a Yeah. John has a helmet. He's ready to larp. There's this account where they they have like LARPing like pretty high pretty high skill LARPing going on. Yeah. Where they're hitting each other legitimately so hard. I'm like, you you you're gonna give each other concussions. But it seems like it's fair [02:25:00] S0: this helmet on. I'm good to go. I [02:25:03] S4: think I've seen some of that stuff. That might be a good maybe we get like a little tech version of that going. [02:25:08] S1: How big is the team these days? [02:25:10] S4: Three people. Then my sister's part time. [02:25:13] S0: That's a [02:25:14] S4: she does the customer service and she's the GOAT. But yeah, three full time. [02:25:18] S1: That's amazing. Three full time and all all in house, like in in in in New York. Yep. How how like, what is how are you thinking about supply chain? Like, are you making a lot you're making some stuff in New York from from what I recall, but imagine you're making it all over.