Nick Norris — Navy SEAL and Athlete on Training, Post-Traumatic Growth, and Healing (#378)

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“I’ve shared that a lot more openly, and it’s been one of the best medicines that I’ve found. It’s liberating. Talking about grief has been something that’s unlocked a lot of happiness for me.”
— Nick Norris

Nick Norris (@nick_norris1981) is a graduate of both the United States Naval Academy and Basic Underwater Demolition / SEAL (BUD/S) Class 247. Upon completion of SEAL training in 2004, Nick assumed progressively higher positions of leadership within Naval Special Warfare. His deployed roles included combat advisor to Iraqi and Afghan military units, Cross Functional Team Leader, and Ground Force Commander during combat operation in both Iraq and Afghanistan.

Nick was most recently assigned to Naval Special Warfare Basic Training Command — SEAL Qualification Training (SQT) as Officer in Charge prior to transitioning off Active Duty. Originally from Chicago, Nick received his Bachelor in Science from the United States Naval Academy in 2003 and his Masters of Science in Real Estate from The University of San Diego in 2013. He is on the board of directors of the C4 Foundation, which provides support and resources through science-based programs to active duty Navy SEALs and their families. Nick is the Co-Founder and CEO of Amavara, a sunscreen company that has invented a new mineral sunscreen technology to protect both consumer health and the environment.

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, Castbox, or on your favorite podcast platform.

#378: Nick Norris — Navy SEAL and Athlete on Training, Post-Traumatic Growth, and Healing
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Want to hear an episode with someone who served with Nick on SEAL Team Three? — Listen to the most recent episode featuring Jocko Willink in which he discusses how to stop laziness and procrastination, behaviors that lead to failure, and much more. (Stream below or right-click here to download):


This podcast is brought to you by Helix Sleep. I recently moved into a new home and needed new beds, and I purchased mattresses from Helix Sleep.

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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

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Psychedelics — Microdosing, Mind-Enhancing Methods, and More (#377)

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Tim Ferriss (Milken Global Conference

This episode features a panel that I moderated in front of a standing-room-only crowd at the Milken Institute’s Global Conference 2019. It includes a great overview of psychedelic science, investing opportunities, anecdotal personal benefits, legal challenges, and much more. I think it’s one of the more comprehensive panels ever done on the subject. Here are the participants:

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, Castbox, or on your favorite podcast platform.

#377: Psychedelics — Microdosing, Mind-Enhancing Methods, and More
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Want to hear another podcast discussing psychedelics? — Listen to my conversation with James Fadiman, who has been called “America’s wisest and most respected authority on psychedelics and their use.” Stream below or right-click here to download.

Ep 66: The Psychedelic Explorer's Guide - Risks, Micro-Dosing, Ibogaine, and More
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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

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Why I’m Stopping the Fan-Supported Podcast Experiment

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Greetings!

This is a quick public service announcement: I will be stopping the fan-supported podcast experiment and moving back to an ad-supported podcast. This post will explain a few of the reasons.

Let’s kick off with some housekeeping notes:

  • Huge thanks to everyone who became supporters. I’ll have more to share with y’all via email soon.
  • As part of that thank you, I will be refunding every supporter 100% of what they’ve paid to date. Doing this for thousands of people will take 1-2 weeks, so thank you for being patient.
  • All support subscriptions have been stopped, so you will not be charged again.
  • Just for kicks, I will do another live video Q&A just for supporters on August 2nd, 2019, most likely 8-9pm ET (5-6pm PT), so you can pencil that in. More details will be sent via email once finalized.
  • If you think your company/product/service could be a good fit for the podcast, I’m interested in a few new sponsors to keep things fresh. Most sponsor spots for Q3 and Q4 are already full, but if interested, please click here for more information.

Now, back to this stopping of the experiment…

You might be thinking “Well, that was fast!”, and you’d be right.

The feedback and data have been overwhelmingly clear. Given the size of the audience — the podcast passed 400 million downloads a month ago — experiments can sometimes yield conclusions much more quickly than expected.

So, what did I learn?

The entire experience has been very surprising. For one, many of my assumptions were totally off.

It turns out that most of my listeners have a strong preference for an ad-supported model compared to other options. Many folks have come to use the podcast and 5-Bullet Friday for discovering new products and services, and that has been reflected in the comments since launch. After weeks of consistent feedback from my audience, it’s now loud and clear that my vetting and sharing of sponsors is better received and a better fit.

Below is just one of many blog comments left after the initial switch to no ads/fan-supported:

“Tim, just feedback about the no-sponsor thing– I don’t mind hearing your sponsored adverts because I believe you’ve considered them carefully and only tell us about great products. That’s why I have a closet full of Mizzen & Main shirts and drink Four Sigmatic. Not sure I would have known about those without you. I would rather hear your ads for you to get paid than to offer up my own money; those companies have more money than I do. Just my $.02. Thanks!”

Here are a few more, out of hundreds:

Screenshot 1: https://i.imgur.com/ImJlcFr.jpg

Screenshot 2: https://i.imgur.com/vYH9Ute.jpg 

Live tweet example.

The really comical part is that I should have known, and I could have known. Actually, one could argue that I did know.

Pre-launch polling on social media almost perfectly predicted the outcome. Here’s the tweet I used to test the waters, which had nearly 18,000 respondents. The results were:

72% – No, I wouldn’t donate.

24% – I would give $5 per month.

4% – I would give $10 or more per month.

The comments on this post are really worth reading. The feedback was almost entirely positive towards ads and almost entirely “meh” about fan-supported.

In other words, the answer to my question was clear from the outset: 99% of my listeners are totally OK with ads, and many of them look forward to finding new products and services through my sponsor reads. It’s industry standard for high-download podcasts to have ads, anyone who wants to skip over ads can skip ahead, and people generally do not want to support multiple podcasters by paying for them à la carte.

I may very well write an in-depth blog post about the data and findings another time, but here are a few teasers:

  • Did anyone actually decide to contribute at the $1,000-per-month level I added perhaps 10 days into testing? Short answer: yes. That ended up comprising roughly 13.4% of total monthly recurring revenue (MRR).
  • What percentage of converted visitors to the sign-up page chose the lowest-priced option, no matter the dollar amount ($9.95, $19.95, etc.)? Across all of our split tests, approximately 83%. Keep in mind that this is 83% of total supporters, not 83% of total revenue.
  • The customer service was incredibly low labor. This was shocking. Even with thousands of paying supporters, there were very few inquiries and very few issues (great people, I tell you!). The self-serve portal worked. That’s the good news. The bad news is that, without adding bonuses and incentives for various tiers — something that would create 10x more labor than the ad-supported model, defeating the purpose — the upside wasn’t enough for most listeners to subscribe/support.

So, we are going back to what worked.

The short conclusion to this experiment seems to be “Don’t fix it if it ain’t broken.” My sincerest thanks to everyone who provided support, advice, and feedback. It’s been a great learning experience, and I’m lucky that I can do these types of tests at all.

Onward and upward!

All the best to you and yours,

Tim

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Josh Waitzkin — How to Cram 2 Months of Learning into 1 Day (#375)

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“From my perspective, the goal is unobstructed self-expression.”
— Josh Waitzkin

Josh Waitzkin, author of The Art of Learning, is an eight-time US National Chess Champion, a two-time World Champion in Tai Chi Chuan Push Hands, and the first Brazilian Jiu Jitsu Black Belt under nine-time World Champion Marcelo Garcia.

For the past 12 years, Josh has been channeling his passion for the outer limits of the learning process toward training elite mental performers in business and finance, and to revolutionizing the education system through his nonprofit foundation, The Art of Learning Project. Josh is currently in the process of taking on his fourth and fifth disciplines, paddle surfing and foiling, and is an all-in father and husband.

The audio and video were recorded at The Sohn Investment Conference in the David Geffen Hall at Lincoln Center for the Performing Arts.

The Sohn Conference Foundation is dedicated to supporting innovative initiatives to cure and treat pediatric cancer. The Sohn Conference Foundation raises its funds through a unique strategy: Wall Street’s most successful investors offer their expertise on stage and inspire large audiences to give to the foundation’s cause. You can learn more about it at sohnconference.org.

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, Castbox, or on your favorite podcast platform.

You can find the transcript of this episode here. Transcripts of all episodes can be found here.

Watch the interview on YouTube.

#375: Josh Waitzkin — How to Cram 2 Months of Learning into 1 Day
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Want to hear another conversation with Josh Waitzkin?In this episode (the second ever on The Tim Ferriss Show), we discuss The Art of Learning, what separates elite performers, and strategies for peak productivity. (Stream below or right-click here to download):


QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

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Chip Conley — Building Empires, Tackling Cancer, and Surfing the Liminal (#374)

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“The question would be: ‘What mastery can you offer?’ So have a friend of yours ask that question of you five times, and you’ll be sort of surprised at, by the fifth time you get asked that question, and you’ve had to come up with four other answers before that, what kind of revelation you may have in this archaeological dig.”
— Chip Conley

At age 52, after selling the company he founded and ran as CEO for 24 years, rebel boutique hotelier Chip Conley (@chipconley) was looking for a new chapter in life. Then he received a call from the young founders of Airbnb, asking him to help grow their disruptive start-up into a global hospitality giant. He became their head of global hospitality and strategy.

Chip is a leading authority at the intersection of psychology and business. He is a New York Times bestselling author, and his latest, Wisdom @ Work: The Making of a Modern Elder, inspired him to build the world’s first midlife wisdom school. Located in Baja California Sur, the Modern Elder Academy provides the place and the tools to start reframing a lifetime of experience for what comes next.

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, Castbox, or on your favorite podcast platform.

You can find the transcript of this episode here. Transcripts of all episodes can be found here.

Watch the interview on YouTube.

#374: Chip Conley — Building Empires, Tackling Cancer, and Surfing the Liminal
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Want to hear another interview with an incredible boutique hotelier? — Listen to my interview with hospitality mogul Liz Lambert, in which she talks about balancing the desire to be an artist with the desire to be a business tycoon. (Stream below or right-click here to download):

#320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert
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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

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Jerry Colonna — The Coach With the Spider Tattoo (#373)

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“You are not alone. And just because you feel like shit doesn’t mean you are shit.”
— Jerry Colonna

Jerry Colonna (@jerrycolonna) is the CEO and cofounder of Reboot.io, an executive coaching and leadership development firm dedicated to the notion that better humans make better leaders.

Prior to his career as a coach, he was a partner with J.P. Morgan Partners (JPMP), the private equity arm of J.P. Morgan Chase. Prior to that, he cofounded New York City-based Flatiron Partners with Fred Wilson, which became one of the nation’s most successful early-stage investment programs. His first leadership position, at age 25, was Editor-In-Chief of InformationWeek magazine, and now he has returned to the written word with his first book, Reboot: Leadership and the Art of Growing Up.

You can find the transcript of this episode here. Transcripts of all episodes can be found here.

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, Castbox, or on your favorite podcast platform.

#373: Jerry Colonna — The Coach With the Spider Tattoo
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Want to hear an episode with someone else who understands the value of coaching? — Listen to my conversation with Eric Schmidt, in which we discuss the immeasurable impact late coach Bill Campbell had on Silicon Valley’s rise as a veritable modern superpower. (Stream below or right-click here to download.)

#367: Eric Schmidt — Lessons from a Trillion-Dollar Coach
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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

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Julie Rice — Co-Founding SoulCycle, Taming Anxiety, and Mastering Difficult Conversations (#372)

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“There is no elevator to success; you have to take the stairs.”
— Julie Rice

Julie Rice (@julierice_) is an entrepreneur best known for co-founding the fitness phenomenon SoulCycle. Julie served as Co-CEO at SoulCycle from 2006 to 2015 before joining WeWork in November 2017.

Julie’s life’s work has been about building community, and these days she brings that focus to her new role at WeWork. At WeWork, Julie is approaching everything through the lens of community—she is focusing on WeWork’s brand and the experience WeWork provides its members, and seeking new and innovative ways to grow and share the WeWork experience around the globe.

Julie lives in NYC with her husband Spencer and their two daughters, Phoebe and Parker. She is a board member of The Public Theater and Weight Watchers, as well as an advisor to the women’s club The Wing.

You can find the transcript of this episode here. Transcripts of all episodes can be found here.

Listen to the episode on Apple Podcasts, Spotify, Stitcher, Overcast, Castbox, or on your favorite podcast platform.

#372: Julie Rice — Co-Founding SoulCycle, Taming Anxiety, and Mastering Difficult Conversations
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Want to hear another episode with someone who knows how to build an enticing atmosphere into a business model? — Listen to my interview with hospitality mogul Liz Lambert, in which she talks about balancing the desire to be an artist with the desire to be a business tycoon. (Stream below or right-click here to download):

#320: The Art of Hospitality: An Interview With Entrepreneur and Hotelier Liz Lambert
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QUESTION(S) OF THE DAY: What was your favorite quote or lesson from this episode? Please let me know in the comments.

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