The Future of Social Media from Gary Vee

0:28This is very nuanced, but I'm gonna say it. That is not popular right now. Buddy, just want to take a couple of minutes and just do a couple of things. Firstly, it's fucking free. Yes. It's like, that's got to be the next book. I think you're right. It's like... And I'll tell you why, I apologize, but I'll tell you why I'm taking this tone. I see the end of it. Yeah. I see the end. I think that Meta is making a hard push to these glasses. I think they're going to pull it off. If I had to bet, I think a lot of us over the next decade will no longer have the telephone. People are starting to get burned out, right?

1:09So I think we're going to start regulating. Look what's going on in schools. All of a sudden, all that attention is not like you can see it. I feel like we're on the other side of the hill. Or we're right now in this moment at the apex. And so I'm pushing it harder because I don't want them to miss the final chapters. You said LinkedIn's where Facebook was. Yeah. Give me that, because LinkedIn is still not getting the eyeballs time-wise that Meta does. No, it's not. What I mean by that was in 2011 and 12, which is what I referenced there, the supply and demand of how much attention was on Facebook.

1:43Got it? So it's scale. To your point, you're right. There was more attention on Facebook in 12 than there is today on LinkedIn. However, there was also a lot more people like me making tons of content for it. There's less of that going on. So the equilibrium of the underpriced attention on LinkedIn is remarkable. There's also a difference. The value of the LinkedIn audience is dramatically better than a Facebook. For what we do for a living, for what many of the people in that room did, I mean, yes, you could go viral as a consumable product on TikTok and that will crush. But for LinkedIn, you get one customer out of LinkedIn for a B2B company and it makes four years of investing in LinkedIn worth it.

2:23Yeah, it's definitely the case. So when we look at what's next, you're famous for predicting. Yeah. Where do you see social going? Where do you see? One thing we didn't touch on today, because once I saw how many B2B marketers were in there, but live social shopping. Yeah, yeah. The QVC-ification of social media is so real. One of our clients here built their business from a little store to tens of millions of pounds by live shopping every week. what happened in China 10 years ago is now happening for the rest of the world TikTok shop there's an app called Whatnot that is getting very big as an independent I can't imagine Meta and YouTube and Twitter sitting on the sidelines if you sell something sneakers, perfume, ties dummy bears you need to start looking at live social shopping I think it's going to be next YouTube where is it going?

3:21I believe YouTube is, in a lot of ways, YouTube is the most important platform. It's different. It's not short form content. Obviously, there are shorts. But look, Mr. Beast is the guy and that's his domain. You know, it is a place I can't imagine people not investing in because for long form content, an hour, 30 minutes, this, 10, 15, 20 minutes, it's a requirement. I think it will only continue to get bigger. One question I always ask every guest that I chat to is, how do you define success today and how did that change over your lifetime? I think I'm going to give a pretty unusual answer to this.

3:59I would argue the most consistent thing about me is that it's pretty much the same. I would define success as waking up in the morning and being in full control of what you do. There's so many people that will wake up tomorrow That have to go to a job. I Had never scored my money I felt like I feel you can have and I mean this is very nuanced, but i'm gonna say it And I know a lot of people are gonna scoff at it But I think you can have financial freedom making sixty thousand dollars a year You just have to live within the means of sixty thousand So you may not own your home. You may have an apartment.

4:40You may not have a mercedes you might take public transportation but you can have freedom and I think most people go into jail and traps and the more money they make they get even, you know this you and I now have some grays, right? We've come up and built brother, you know this we know millionaires that live paycheck to paycheck so I've always defined success of having the ability to have freedom and I did that for myself when my dad was paying me$48 ,000 a year because I lived in a bullshit apartment for$800 a month, bought nothing, and had money, had freedom. Could leave my dad's store the next day because I could start something else and do rent.

5:23So yeah, I think I define it today in that. I would say the only other nuance is I did not think about leaving a positive deposit on society at 25. I think about that very heavily now as Gary V. and being successful at that or accomplishing that at scale is success. Final question. Parent, wealthy parent, raising great kids. Top two or three things. Stop giving them money after they're 18 to 22? Mine was 21. I caught them at 21. You are, those kids are so lucky and they can't see it at first because they've got friends that don't have that happening. That's number one. Number two, resilience, adversity.

6:16Don't overcoddle children. They have to lose. I'll say some stuff that is not popular right now. I think it's wonderful when kids get into fights in grade school. You have to learn. You have all these people talking so much shit on the internet. You know why? When you talk shit on the internet, nobody's punching you in the face. I think that there needs to be consequences. I'll give you another one. You know this. We grew up in an era where if you did something wrong, depending on the parent you had, either they smacked you, at bare minimum, they grounded you. Parents don't even ground anymore.

6:54You have kids that are 12 talking, fucking cursing at their parents. If I looked at my mom wrong, curse? Disrespect? If I, fuck, if I thought about looking at my mom wrong, I was dead. Wait till your father gets home. Oh my God, that one was mine. That was for me too. I was scared shitless of my dad. I believe that raising good kids is teaching them that the world is built on merit. No eighth place trophies. Fuck a second place trophy. You lost. Like get into that. And the people have demonized that. Like, I know somebody just saw that clip and they're like, ah, nothing. That's fucking life. There's winning and losing.

7:34That's good. Your kid's not gonna be a loser because they lost and they know they lost. They're going to be a loser if you teach them that losing doesn't matter. Consequences, results, merit, truth, accountability, and loving them. Like actually loving them. The number one mistake a parent makes is they have their self-esteem wrapped up in their child's accomplishments. Oh, yeah, I see that way too often. Yeah, you do. Having five kids, you can't. Because like with five kids, it's like, and even my eldest daughter, she says to me, Dad, I'm like, dude, you're my practice kid. I don't know. I messed shit up with you.

8:09But the other day I'm sitting in the car and I yelled at one of my kids the night before because I was in the car on the way to school because I drive my kids to school every day. And I sit there and I said, kids, I got to apologize. I lost it last night. It was not good. And listen, that's human. What I would say is when kids know you love them for them, not so that you can brag about them to others, they smell it. The big mistake a lot of parents make is they push their kids to fancy universities because they want it they want to go out to dinner and be like my son goes to oxford they don't they don't see it parents that they're using their children i will i do i have my own self-esteem i don't need my children to provide it for me and that actually is the healthiest prompt out of all the things i do as a father and i've got plenty of shortcomings that one i'm drilling i'm drilling that one and they can smell that

9:03Thank you.