Did the Hawk Tuah Girl Really Steal $50M?

18 Dec 2024 · 23 min

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Podcast Episode Summary: Marketing School - Episode #2887

Overview

In this episode of "Marketing School," hosts Neil Patel and Eric Siu discuss several contemporary topics in marketing, technology, and crypto, including the controversial Hawk Tuah girl incident, celebrity influence on investments, YouTube shorts, AI platforms, OpenAI's market position, and TikTok's potential future in light of regulatory scrutiny.

Time-Stamped Show Notes

00:00 - The Hawk Tuah Girl and the $50 Million Rug Pull

  • Incident Overview: The Hawk Tuah girl, known as Haley Welch, allegedly launched a meme coin that experienced a massive scam known as a "rug pull."
  • Market Cap Fluctuation: The coin's value peaked at $60 million before crashing to $25 million.
  • Investigator Findings: Allegations arise about her team selling tokens, contradicting her claims of holding all tokens.
  • Public Reaction: Many investors lost money, leading to calls for legal action against her.

02:53 - The Impact of Celebrity Culture on Crypto

  • Discussion: Celebrity endorsements can lead to volatile investments in the crypto space.
  • Implications: Celebrities often lack business acumen, which can put their followers at risk.

06:14 - YouTube Shorts: Worth the Effort?

  • Monetization Issue: Creators earn significantly less from YouTube Shorts, with estimates suggesting up to 99% lower revenue compared to long-form videos.
  • Advice: The hosts question the viability of pursuing YouTube Shorts for revenue generation.

09:12 - AI Platforms and Revenue Sharing

  • Emerging Trends: The hosts discuss the potential for AI platforms to start compensating publishers for their content, similar to how search engines operate.

12:00 - The Future of AI in Business

  • Predictions: AI will continue to evolve, impacting business operations and revenue models.
  • Key Use Cases: Code generation, support chatbots, enterprise search, and data extraction are identified as top use cases for AI in business.

15:11 - The State of OpenAI and Market Dynamics

  • Market Analysis: OpenAI's market share is observed to be declining as competitors like Anthropic and Google gain market presence.
  • Investment Opinion: The hosts express skepticism about investing in OpenAI publicly, favoring personal investments over external companies.

17:56 - The Future of TikTok and Global Ownership

  • Regulatory Scrutiny: Discussion about TikTok's impending challenges related to potential bans and ownership issues.
  • Speculation: The hosts speculate that if TikTok is banned, it will likely be sold to a domestic buyer instead of being completely shut down.

19:37 - Conclusion

  • Call to Action: Listeners are encouraged to rate, review, and subscribe to the podcast.

Key Takeaways

  • Celebrity Influence: Celebrity endorsements in crypto can lead to significant risks for followers, emphasizing the need for due diligence.
  • Monetization of Content: Creators should assess the true value of platforms like YouTube Shorts for revenue generation.
  • AI in Business: AI platforms are becoming increasingly important, and businesses should adapt to leverage AI technologies effectively.
  • Market Dynamics: Competitors are emerging in the AI space, resulting in a shifting landscape for existing leaders like OpenAI.
  • Regulatory Environment: The future of platforms like TikTok is uncertain due to regulatory pressures, but potential acquisitions could mitigate risks.

Additional Resources

  • Visit [Marketing School Website](https://www.marketingschool.io) for more insights.
  • Connect with the hosts:
  • [Neil Patel on X](https://x.com/neilpatel)
  • [Eric Siu on X](https://x.com/ericosiu)

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Transcript

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0:00Did you know that the Hawk Tua girl stole$50 million? I don't know if she stole$50 million, but I saw something how she created a meme coin. In crypto, it's what we call a rug pull. So what had happened is she created a meme coin. I don't know if it's called Haktoa coin. But the whole idea here is that basically she launched it. And then I remember she did Twitter spaces or X spaces. And at the very end, she didn't even answer questions. She was just like, all right, guys, I'm going to bed. Goodbye. And then that was it, right? But here's the thing. So it went all the way up to 50 million or so.

0:36And then basically, it wasn't even her. It was like her staff, the people that came up with this idea, they dumped a bunch, right? So that's what you call rug pull in crypto. I thought she said she didn't sell any and is holding on to it. Well, then how is it rug pull? I don't know. But I heard from a tweet or I saw a tweet. They're saying that they've been holding and they're not really selling anything. Yeah. So I don't understand how it's a rug pull. So here, check this out. So this over here says, want to steal$50 million while the Hawk Tua girl did. She launched a coin, rugged it, and then shamelessly went to sleep like nothing happened.

1:09And so it shows this graph over here. You can see it moving up and to the right. This is like the highest market cap and it just drops like nothing basically, right? And this is in a span of, I don't know, it seems like a day or so, but it went all the way up to about 60 million market cap and then it just dropped to nothing. So here's what it says. So her real name is Haley Welch. She's a 22-year-old woman, became famous for her viral TikTok. And so what happened here, she got into crypto, launched her own meme coin. And her coin quickly hit a market cap of$500 million and then it immediately nuked to$25 million.

1:44That's 95 % of your money gone in a few minutes. Just minutes after the coin started dipping, she posted to Tokenomics. She said the team didn't sell a single token, which you just said, right? She was lying and will likely have to talk to a, to judges about this. here's what happened bubble mask revealed that 96 % of the supply was in one cluster 285 investors joined the hawk presale 89 wallets sold 100 % immediately so they just dumped if you're an investor, you're in, you can dump it immediately Haley's team has sold absolutely no tokens whatsoever meanwhile the team it just shows a bunch of transactions where people sold so it is actually true it's actually false that what they said, they lied they actually did sell Wow So she and her team made a Twitter space to explain what happened They got destroyed by the crypto investigator Coffeezilla You know that guy, right?

2:37And then Hawk Tua girl decided to end the space because she was tired Let me say that again She rugged the coin and then shamelessly went to bed like nothing even happened You have to listen to this So aftermath, this was yet another celebrity coin rug pull People lost millions and want her in jail Law firms are looking to sue her So here's my thoughts around this she got her 15 minutes of fame from, from the, the Tik TOK. And actually she has a podcast that does pretty well right now. Okay. And, um, I think what's happening right now is because she's not that experienced when it comes to business, she's getting pulled in all different directions by different people that want to make money off of her brand.

3:14And she doesn't know any better. Right. And so she got pulled into this thing. And then what has happened is that she got into bed with the wrong people. Maybe that's the wrong way to put it. But that's why this is happening right now. She just doesn't know any better. And by the way, with her podcast too, I think from my understanding, from me observing from afar, is a lot of her podcast partners are directing her on what she should be doing, what she should be talking about, who she should be talking to, right? So there's a lot of stakeholders that have their tentacles into how she's doing things.

3:49She built up a brand really fast and people are going to tarnish the brand even faster, sadly. Yep. Okay. I started strong. You started strong. I feel bad for her. I also feel bad for the people who lost a lot of money. But the reason I'm saying I feel bad for her is I bet you she has no clue what's happening. I'm not saying she's dumb or anything like that. I have no clue on her education. but I bet you she doesn't know much about crypto or anything because I've listened to some of her interviews. She's not dumb. I don't think she's dumb. No, yeah, but I bet you people are just taking advantage of her and she's going to be screwed over this and pretty much lose most, if not everything.

4:33Did you see Trump's new cologne? No, dude, I didn't even know he had cologne. Well, let me tell you about his cologne. Are you joking or are you serious here? I'm not joking. I'm not joking. Okay, so check this out. So it's a fragrance your enemies can't resist. Who's looking at it? That's Jill Biden. That's Jill Biden, right? And so then he shows the perfume. And then he basically tweeted it. So even though he's a president-elect right now, he's still got to make money, right? So he's like, here are my new Trump perfumes and colognes. I call them fight, fight, fight, because they represent us winning.

5:06Great Christmas gifts for the family. Go get gettrumpfraquences.com. Merry Christmas and a Happy New Year. Fantastic. Fantastic. Are you going to buy some? No. It's so good that your enemies will like it. Dude, I don't even know the last time I wore cologne or any of that kind of stuff. Me neither. I just buy it and I just leave it there. I don't even buy it. Oh. Even as a gift? You don't get them as a gift? I don't get gifts. I get them as a gift. I don't really get gifts anymore. Do you give gifts? Money? Yes, I give money. I give money. That's the Asian way of doing things. I don't really give any gifts other than money.

5:40Okay, here's another one for you. Are YouTube shorts actually worth it from a revenue standpoint? for the creator or for youtube for the creator no okay you don't make that much from youtube shorts you make how much how much less money do you make revenue wise percentage wise i i think you make maybe like 85 less 99 less okay so this one guy this one guy posted um because youtube you can now do the the three minute shorts yeah so he posted but they hadn't fully released it yet, right? So he posted a short and it posted as a long form. So it showed his revenue, right? And each day he was making like, I don't know, 22 cents or something like that from the video, right?

6:20And then the moment YouTube converted it to a short form video, the revenue dipped all, like it's like a penny a day, two pennies a day or something like that, right? So from a revenue standpoint, are YouTube shorts worth it? The answer is no. And some people are making even the argument that you shouldn't even be doing shorts in the first place, right? But, you know, your knowledge may vary. We just wanted to share that with you. Yeah. Have you also seen that AI platforms, or more so, do you think AI platforms will start compensating more and more publishers? I think so. They have to. I agree, because Perplexia has expanded their ad revenue sharing program.

6:55And I bet you this is just going to keep continuing, just like how search engines compensate. Actually, I don't think search engines compensate people other than the ads. But the difference is with these, yeah, other than AdSense. The difference is here they're taking a lot of your content and using it for answers and they need it. Search engines do compensate some publishers for their data though. So that is actually inaccurate on what I said earlier. They do compensate certain publishers more than just ads. A good example of this is TikTok or Reddit. When they want the data, they will pay money for it.

7:30That's not always the case with the AI platforms because unlike linking to them, they're a lot of times just taking the information and just giving the answer. So a lot of publishers are just pissed off. Well, I think that makes a lot of sense. I mean, because we're talking about LLMs now, we should talk about how to rank for ChatGPT, Perplexity, and other LLMs. So if you want to rank for ChatGPT, this is all you have to do. The simple thing, we've talked about this before. If you are on ChatGPT, the most of the results that they use are Bing results, right? So Optimize for Bing SEO. If you want to rank for Perplexity, usually the number one results are Google results.

8:06So do traditional SEO. That's probably not going to change in 2025. That's all you need to do. Or 2026. It's a lot of the same signals. And here's a kicker. Most people are like, why don't I rank number one on Bing and on Google for all the terms? You'll find it that Google and Bing don't want to showcase the exact same search results and the exact same rankings for a keyword because then there'll be no differentiation. So yes, you're using a lot of the similar methodology to rank on Bing and Google. but if you had to pick, focus on Google over Bing. Yep. And I do believe ChatGPT will get away more and more from Bing even with their ownership.

8:43I don't think Sam Allman's the happiest with Microsoft, right? Because he's talked about the resources not getting enough. Yeah. He kind of mentioned on that interview where it's like, you know, it's been good, it's been bad. And I was like, oh, okay. Yeah. If it was 100 % good, you just say that. Yeah. Yeah. But you also don't want to bite the hand that feeds you. No, you don't. I think they're big enough at this point where they don't have to worry, but still, there's a better way to do it. And if you want help from others, just go get funding from some of the other players because it can't be that hard for ChatGPT.

9:12Go tell NVIDIA to give you 10 billion bucks and give you whatever resources you need. They may end up popping, giving you the cash. I don't know if you look at your, when's the last time you looked at your Google Search Console, but my team brought it up and it's like ChatGPT and Gemini are becoming our largest referrers and it's continuing to grow over time. Your Google Search Console? You mean your Google Analytics? Google Search Console. Search Console doesn't show you ChatGPT refers. There's a screenshot of it. We have it. It shows you... Oh, because they tag UTMs. Oh, okay. So it's continuing to grow.

9:49We look at the graph and it's going up into the right and it'll just continue to go up into the right. I'm pretty sure you mean Google Analytics. No, it was a Google Search Console screenshot. Oh, okay. Yeah. But anyway, it's interesting. I'm sure it's probably the same case for you. But all right, let's talk about here. Here's a simple one. Here's how you can hire an AI CFO for$20 a month. Here's all I did. I pay for Claude that AI too. So what you do with Claude is you make a project and the project you can call it like a single grain CFO. Okay. And you upload all your financials to it. Okay.

10:22And then you start asking questions around, hey, okay, you're the world's best digital marketing CFO. What do you think about our financials? what should we be doing here? What should we be doing for Q1, Q2, Q3, Q4, right? And you start working with it and it comes up with all these things and it's about 70 to 80 % of the way there and it's coming up with a lot of good ideas too, right? And you say, oh, we can't do that idea over here or actually no, I should clarify, this is how my cost structure is over here and then you work on it and it comes out with a really good plan and that's a plan that you can work on with your team and instead of having to wait, we're talking hours or weeks for a report or for a strategy, you can now do it real time for$20 a month.

11:02So that's a good thing I like about Claude because you can make a project for it, upload the context, keep adding more context to it, and then keep workshopping. Because the problem with a lot of chat GPT, for example, is one chat can start to run out over time. You have to make a new chat. But with this one, you can keep it going in a project. All right. So what do you want to end with? What are the last few? We have like three more. Two more. All right. Do you want to know you might be able to answer this one. So Apple would be dead today if they didn't do this one thing. They paid$500 million for this one thing.

11:35Do you know what it is? No, but Apple would be dead today if Microsoft didn't give them$100 million for 10%. That's also true. But here's the other thing. Here's the other thing. So when Apple paid$500 million for Next, what were they doing? They were buying Steve Jobs, right? To get Steve Jobs back, what do you do? He came back, he cut all the product lines down to four products, and he just focused on those products. And then when it came time, it wasn't just the iPhone that had just come out on its own. It was the iPod that came out. And then it was the iTouch. It wasn't even the phone yet, right?

12:06I had an iTouch before. And then it was the iPhone, right? And then they really blew up from there. And so there are a couple of things that save Apple, right? Microsoft had to save Apple. You're completely right. And then they had to buy Next to get Steve Jobs back. Do you know why Microsoft saved Apple? Because they had to. DOJ. Yeah, Monopoly. Yes. They made a killing on the stock. They should have held it all, but they didn't. It's okay. They're doing well today. They're both doing well today. So that's that. What else do you have on your end? Did you see... Where is this?

12:41Oh, I believe that everyone is pretty much expecting AI answers these days. And Reddit just integrated AI-powered search within Reddit Answers. but I bet you most platforms are all just going to leverage this and it's going to be a default. Like if you're a corporation or even if your site has search and you don't just give people answers when they type in a search, I think people will become disappointed. It used to be with site search. If someone types something on your site, you'll get a list of links and then you give them the right one and people are okay with that. Now, no matter what type of search people are doing on any type of platform, if there's not an option to give people an answer, because it doesn't always work for every search query, but when possible, I think companies have to, if not, people are just going to be disappointed.

13:29Yeah, it's a new user expectation. Yes. That's what it is. Speaking of AI, there's a couple, we can cover these last two and this will be it. But what do you think are the most valuable AI use cases in business today? in business I don't know I can tell you marketing okay so this is from Menlo VC and they've invested in some pretty impressive AI companies and so you can see over here the first one is code generation so 51 % would say code generation right so it's using like copilots or using the cursor or something like that right and legit like I don't know about your developers but they're like we're like five times faster right pretty impressive support chatbots would be another one like a Sierra.ai where people are building like customer service bots and things like that.

14:14And I'll just go with the third one. Your brother-in-law, I think, sold one of these companies. Enterprise search plus retrieval. Because we have a lot of artifacts with our data. It's hard to find things. And it makes a lot of sense. You have all your files in Dropbox. You need to figure out a good way to retrieve this information. And then data extraction and transformation. Those are the top use cases for 2025. Now I want to talk about the state of AI for business in 2025. So what do you think OpenAI's market share was for LLMs in 2023? When I first started my business, the overwhelm was real.

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16:28No issues with versions or miscommunication. Whether you're starting from scratch or using one of their templates, Framer lets you focus on design while handling the technical side for you. Animations, responsive layouts, search optimization, and all the things that matter. Ready to build a site that looks hand-coded without hiring a developer? Launch your site for free at framer.com and use code MS to get your first month of pro on the house. That's framer.com, promo code MS, framer.com, promo code MS. Rules and restrictions may apply. 10 million? Like percentage market share. Open AI's? Of LLMs.

17:05Call it 80 %? 50%. What do you think it is in 2024? Call it 10 %? 34%. So you can see this. Anthropic is gaining over here, right? They've gained like 12 % or so. Google is actually going up from 7 % to 12%. Anthropic from 12 % to 24 % or so. This is actually like 100%. There's too many competitors. It's going to decrease and there's going to be more and more over time. And the meta is kind of held steady, right? So I think, who knows? Here's the thing. Here's a question for you. Would you invest in OpenAI as a stock if it was public today? No, me neither. Why wouldn't you? I think I get better returns investing in myself.

17:41Okay, yeah, me too. So we have nothing else to add there. But I really recommend that everyone reads this report from Menlo VC. It's a bit of a doozy. It was written by AI as well. Do I think OpenAI could be a trillion dollar company you can make a killing? Yes. Do I think you and I can potentially beat those returns? I don't know. I think the difference with us versus investing in another company, you and I both enjoy what we do and it's not always about the return. So we invest in what we not just feel can produce a good return and it has less risk for us because we know what we're doing, at least within our field.

18:16The other big thing is we just love what we're doing. I just think we'll get like the returns will be more than we ever have thought of growing up right like you never thought you'd be where you are right now I never thought I'd be where we like and so long term like everything will be fine. My problems are stupid first world problems. Yeah like you know eleventy. Yes like someone charging my credit card $13 ,000 when they shouldn't have thinking I won't catch it I'm like I'm gonna make an example it's not worth my time I should just do a charge rack and walk away and not deal with it. But now, I don't know why.

18:51I just have to. It's part of the game. All right, here's the last thing we can end on. So did you see ChatGPT, or sorry, let me rephrase this. Did you see XAI's version of Barnacle Marketing? No. Okay, so XAI is latching on to OpenAI. So ChatGPT is doing these 12 Days of Christmas, right? There's this marketing campaign. They're doing all these things, releasing all these things. So XAI, which is Elon's, their version of, it's their LLM, right? Every time Sam Altman posts something, the leader at XAI posts like, oh, dude, we're already doing that stuff, right? Or they're posting a picture of the entire team and this guy is wearing a MAGA hat.

19:29He's an Asian guy, right? He's wearing a Make America Great hat. And he's taking a screenshot. Look, we built that stuff already, right? And they're like, while you guys are taking a break, doing these 12 days of Christmas, we're working seven days a week or whatever, right? And it's just like, it's funny because they're latching on to everything that they're doing and they're trolling them. Almost like how Beehive trolls Kit. Yeah. So I just think it's funny. Obviously, I'm going to check it out, though. Yeah. Here, let's just pull it up real quick. So, okay. So this guy, Chris Park. So let's see what this guy does.

19:59Okay. He's a Korean dude, right? And he's like a leader at XAI. So X API developers, which is worth like$30 billion or something crazy like that, right? Check this out. Yeah. Look, Sam Altman, I'm so, so excited for what we have to launch on day three. Monday feels so far away. and Chris Park's like, XAI doesn't need to wait until Monday. This team is too cracked and stays shipping. Congrats, XAI for releasing brand new image gen model, Aurora. So Grok 2 plus Aurora is now available with your X app in the model selector. Oh, by the way, Grok 3 is coming. So he's just like announcing ahead of him.

20:31Yeah, I love that. And on a last note, you see that TikTok has until January something before it gets banned, although they filed the appeal. Yeah, or try and take it to the Supreme Court. I don't think TikTok's going to get banned in the US. it doesn't even matter what TikTok fights or doesn't fight I guarantee someone is going to buy TikTok if the US says it's going to be banned and they have no choice I bet you they'll just sell the company and someone will take it over I didn't even think Trump is Trump used to be focused on that before he doesn't care anymore Canada did something similar with TikTok that it's creating problems from but it has nothing to do with TikTok being banned in the US it's a question of really who's the owner and if the owner was someone who's a US citizen or US corporation the government wouldn't care and they would just go on you saw Trump go to Trudeau and he's like hey you want to be the 51st state you can be the governor did he really say that?

21:28yeah he said that Canada will never join the US that's not going to happen yeah anyway that is it for today guys that would actually be really cool I would love it if Canada was part of the US it would be cool I think they'll do better with us I think I would love to be able to go to Canada whenever I wanted yeah I mean Yeah, Canada's great. So that is it for today, guys. Please don't forget to rate, review, and subscribe. Go to marketingschool.io slash agency if you want to learn more about our little agency community to help you grow faster. I think Neil, we're actually speaking in 10 days to the community.

21:56So that's that. And yeah, we'll see you tomorrow.

From the publisher
In episode #2887, Eric Siu and Neil Patel discuss the controversial case of the Hawk Tuah girl, the implications of celebrity culture on crypto investments, the revenue challenges faced by YouTube shorts creators, the competitive dynamics surrounding OpenAI, and the potential fate of TikTok amidst regulatory scrutiny. Don’t forget to help us grow by subscribing and liking on YouTube! Check out more of Eric’s content (Leveling UP YT) and Neil’s videos (Neil Patel YT)  TIME-STAMPED SHOW NOTES: (00:00) The Hawk Tua Girl and the $50 Million Rug Pull (02:53) The Impact of Celebrity Culture on Crypto (06:14) YouTube Shorts: Worth the Effort? (09:12) AI Platforms and Revenue Sharing (12:00) The Future of AI in Business (15:11) The State of OpenAI and Market Dynamics (17:56) The Future of TikTok and Global Ownership (19:37) That’s it for today! Don’t forget to rate, review, and subscribe! Go to https://www.marketingschool.io to learn more!   Leave Some Feedback: What should we talk about next?  Did you enjoy this episode? If so, please leave a short review.   Connect with Us:    Single Grain << Eric’s ad agency NP Digital << Neil’s ad agency X @neilpatel X @ericosiu

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