#83 - How the Koch Brothers Got Rich, Human IPOs and Why Snapchat Might be the Future

**Sam Parr** (0:00)
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Hey, so here's the deal.
At night, I have this weird bedtime routine. I go to My First Million's podcast page on iTunes, and I read all of the reviews. So, can you please, after this podcast, or even right now, just hit pause, go and leave us a review. It doesn't even have to be a five-star review. Just tell us how you think, or what you think, and it's really important to us, because Sean and I look at every single review, and we actually adapt to some of the feedback we get. So please, go ahead and do that. And also, we have thousands of people who are part of a Facebook group, where we talk about the ideas we discuss on My First Million. If you go to facebook.com, on the search bar, just type in My First Million, you'll see the group.
There's thousands of folks in there who are all schemers, just like Sean and I.
So come and join us.

**Shaan Puri** (1:24)
Sam, what's up?

**Sam Parr** (1:26)
Hey, I'm looking at an email that I just got from Milk Bar. They have a peanut butter and jelly birthday cake. My birthday is in a few days. If anyone has a, if anyone is thinking about me.

**Shaan Puri** (1:40)
All right, if someone's thinking about you, what should they do?

**Sam Parr** (1:43)
Just buy me that cake.

**Shaan Puri** (1:46)
What is Milk Bar? Is this a brand of cake?

**Sam Parr** (1:49)
Yeah, it started because, what's that guy in New York?
David Chang, he started the Momofuku Bars and they decided to open up a dessert area and now that's spun off to its own thing called Milk Bar and they make trendy cakes. I ordered one the other day. It's pretty good.

**Shaan Puri** (2:05)
How long does it take for it to get to you?

**Sam Parr** (2:08)
A week.

**Shaan Puri** (2:09)
Oh man, see, that's the problem. I'm never thoughtful a week in advance. I'm like, the day of, I'm like, I'm gonna do something, but I need something that can get done that day.

**Sam Parr** (2:18)
It looks delicious. Can we talk about Austin?

**Shaan Puri** (2:21)
Yeah, you're in Austin.

**Sam Parr** (2:22)
Okay, I've been in Austin for three weeks now. I'm gonna come home on Saturday.
Austin is lovely. It is a great place. Shaan, is everyone in San Francisco gonna leave?

**Shaan Puri** (2:35)
No, everyone in San Francisco is not gonna leave, but definitely some people are leaving.

**Sam Parr** (2:39)
I'm looking at, so I have a place in San Francisco. I pay like five grand a month or something, four to five grand a month, and it's like 1,000 or 1,100 square feet with the garage.
I'm living in a place that's probably $3,000 a month, and it's like a 2,000 square foot house with a backyard and furnished. I'm like, what am I doing?

**Shaan Puri** (3:01)
Yeah, but the thing is you can go even further with that because when I grew up, I lived in a whole bunch of different countries. I lived in Indonesia, I lived in China, and there it's like, go to Indonesia. You'll live like a king. You can go live in Bali on the beach with a cook and a driver for the same amount you're paying in Austin, right? So this kind of this arbitrage of like cost of living, it really never ends. So be careful.

**Sam Parr** (3:23)
Yeah, I'm just, it's making me question my life.
I look on Zillow all the time for buying a home in San Francisco and the prices are dropping like crazy. It says like $150,000, $200,000 cut off of everything. Are you gonna have to cut on your house?

**Shaan Puri** (3:37)
Hopefully not.
If you're the buyer listening to this, I'm not taking one penny less than asking. That's my position.

**Sam Parr** (3:43)
Oh, do you have someone who's gonna buy it now?

**Shaan Puri** (3:45)
No, I don't know. I haven't listed it yet, but soon.

**Sam Parr** (3:49)
Good. And so, your friends, do you have a lot of friends leaving San Francisco?

**Shaan Puri** (3:54)