
October 14, 2021
How Tracking Every Second of His Life Took Rob Dyrdek from 0 to $405M in Exits | My First Million with Sam Parr and Shaan Puri
Check out the My First Million episode page
Key Takeaways
- “I am human optimization, I’m optimized to be happy. Your goal is not to be happy in pockets, your goal is to be happy every single hour of your life.” – Rob Dyrdek
- You can avoid all negativity if you constantly live in a state of experiencing, creating or problem-solving
- Every day for the last 5 years, Rob has written down how he feels about his life, work, and health on a scale of 1-10
- He compares this qualitative data to his quantitative data, what he’s doing and what the correlating feeling is
- Mastery of self – Rob runs a daily analysis on himself to ensure his work/life always aligns with his priority for happiness
- “You have a certain level of human capacity. In order to scale it, you either hire or automate it” – Rob Dyrdek
- Start at the end – decide exactly what you want out of a business before you even start it
- This can apply to all goals in your life, not just your work
- There is great value in being open about your financial circumstances/opportunities with a peer group
- Creates a strategic environment that functions off of collaboration and accountability
Intro
- Rob Dyrdek (@robdyrdek) is a former professional skateboarder, the star of TV hits Rob & big and Ridiculousness, and now the CEO of a venture studio, The Dyrdek Machine. Rob Dyrdek details how the optimization of your life can help you achieve your peak potential for happiness and financial sustainability.
- Hosts: Sam Parr (@TheSamParr) and Shaan Puri (@ShaanVP)
Ridiculousness
- There is a running joke in The Challenge Reddit forum that The Challenge is on for 1 hour of MTV airtime and Ridiculousness is the other 23 hours
- Ridiculousness is actually 60% of airtime on MTV
- Ridiculousness saw better ratings when blocked in consecutive episodes rather than single episodes
The Dyrdek Machine
- The Dyrdek Machine LLC – operating entertainment/venture studio
- Distributes capital from LLC into Real Estate holdings or co-founding ventures
- Tries to own 25%-70% of every mature venture he owns
- Built 17 companies and sold 6 of them – netting $450 million
- Real Estate targets – manufactured housing, multi-family units, storage units, RV parks
- Distributes capital from LLC into Real Estate holdings or co-founding ventures
- Every Dyrdek venture uses a lifetime structure called ‘The Unified Theory’
- All goals are strictly established from the beginning – Everything is built to sell
- Start at the end – decide exactly what you want out of a business before you even start it
- Start at the End: How to Build Products That Create Change by Matt Wallaert
- Rob designs his life this way, not just his businesses
- The Dyrdek Machine prioritizes IRR (internal rate of return)
- Allows your expenses to stay in line with your dividends
- The continuity of cash flow and reinvestment embodies the ‘Machine’ name
The Optimization of Life
- “You have a certain level of human capacity. In order to scale it, you either hire or automate it” – Rob Dyrdek
- Rob lives an incredibly automated life, his designed balance helps his priority allocation and leads to more overall happiness
- He sends his wife a detailed plan every day; this avoids any disconnect or misinterpretation of priorities
- He adds a love quote to this plan as well – it’s the little things
- Rob lives an incredibly automated life, his designed balance helps his priority allocation and leads to more overall happiness
- “Quantitative and qualitative data is what I live my life off of” – Rob Dyrdek
- Every day for the last 5 years, he’s written down how he feels about his life, work, and health on a scale of 1-10
- This data helps Rob correlate how he’s feeling to the things that he’s doing
- “I am human optimization, I’m optimized to be happy. Your goal is not to be happy in pockets, your goal is to be happy every single hour of your life.” – Rob Dyrdek
- Two mindsets that hinder happiness: Dwelling/Negativity & Hopeful/Wishful
- You can avoid all negativity if you constantly live in a state of experiencing, creating or problem-solving
Financial Openness
- Tiger 21 is a community network that requires members to be open about personal finances and goals, this leads to collective and collaborative wealth growth strategies
- It’s not about the business model of Tiger 21, it’s about the peer network (it does get a bad rep for being a club of rich guys)
- Portfolio Defense: each month, one person has to share their complete asset portfolio and income streams
- Creates accountability and collaboration
- The depth of knowledge on wealth building and sustainability among like-individuals has been extremely valuable to Rob – this can be a valuable discussion among any peer group
- He learned how to create value with more intention and perspective
TikTok & Market Trends
- Sam hypothesizes how big Rob Dyrdek could have been if he came up now with resources like TikTok and other social medias
- Rob believes his stunts and ideas couldn’t be financially supported through those mediums as opposed to the corporate backing he had in his early career
- Business trends that Rob is following closely:
- Water filtration for skin and hair care
- Superfoods and plant-based products
- ‘Ugly-cool’ in comfort footwear
- White spaces present the most opportunity in markets for Rob’s opportunity analysis
- Founder-Market fit is importantl there should be a personal relationship to products