moonshots ep13 naveen jain billionaire mindset transcript

most people find think that happiness is something you drive from something else so they constantly change something or someone that’s going to make them happy what they don’t realize is happiness is the inside job if you are happy inside you you will find you can share that happiness with everyone you meet that means you could if you are happy person you could be sitting in a dark corner and still be happy and if you’re unhappy person you could be sitting in a paradise and still be unhappy so to me me the happiness comes when you find the true peace the true purpose in life where every day when you wake up you wake up with joy and a massive transformative purpose is what you’re telling the world it’s like this is who I am this is what I’m going to do this is the dent I’m going to make in the universe welcome everybody to moonshots and mindsets I’m Peter D mandis I’m here with my brother from another mother one of my dearest friends on the planet a

[00:01:00] co-conspirator a co-traveler on the spaceship earth naven Jan naen how you doing first of all what an honor and a pleasure every time you and I talk it is just unbelievable the amount of information and energy we to together can bring to the table so I’m just really looking forward to this conversation yeah I I am I am as well I mean I hope almost everybody here knows who you are uh first of all uh you and I are on the board together of Singularity University and the xprize foundation you have started a number of super successful internet companies from infospace that reached a multi multi-billion dollar valuation during the days of the uh of the.com explosions uh you’ve gone after so many moonshots uh really in areas we both are passionate about space and and health uh you’re the CEO chairman of viome uh full disclosure I’m an advisor and investor in viome uh and uh I think more than anything you and I both both love

[00:02:01] inspiring people to take moonshots and inspiring people to go bigger and I think that’s one of the things I want to talk about during this conversation is what are the mindsets that are required uh to go after and and change the world before we get that uh to that conversation um you were just in Israel at the wellness Summit I know my team from Fountain life was there what was going on there what was the what was the vibe in at this Wellness Summit it was it was a big deal it was a big deal and I think one of the things we are seeing is that the whole concept of wellness and uh longevity is fundamentally changing it used to be people were reactive that I do what I do when I get sick I want to go to the hospital what Co taught us is the last thing you want to do is to get sick and go to the hospital right so people are starting to take control of their own health they’re becoming the CEO of their own health and what they’re realizing is their actions have health consequences so the whole idea of I don’t want to wait until I get sick and what can I do to tell me before

[00:03:01] I get sick what’s happening in my body what can I do to prevent it and I think to me what Fountain is doing and what we’re doing at wome is really synergistic in a way that allows people to take control of their own health and understand what is going on in their body yeah no it’s it’s true it’s um I mean the technology right now I I think ultimately you know and I think I coined the term be the CEO of your own health years ago I think it’s going to end up being AI is the CEO of your health you’re going to you’re going to upload all of the technology all of the data into your AI and it’s going to be but we’ll get we’ll get to that uh in a little bit well I’m going to push back on that one because I think a the reason is the part of the job of a CEO is a chief execution officer and the only person who can execute what to do is you so no one else AI can’t execute for you AI can only tell you what to do and you need to execute for yourself well that’s that is true to a large degree I think AI is going to be able to like decide

[00:04:01] what’s in your food and your supplements it’s going to be able to decide it’s going to tell you what need to be there well and then it might prived for you so this is going to be this is going to be interesting but uh we’ll we’ll get to that in a in a bit so listen I’m one of the things I wanted to talk to you about because we’ve talked about this on the stage at abundance 360 on at singular University and I love your framework for moonshots and I I think this conversation for for those listening is about inspiring you to think bigger uh and to uh feel feel enabled to go for a moonshot so here’s my question for you navine and uh uh do you think any entrepreneur out there can in fact take on a moonshot or are there entrepreneurs who need to be taking it a step at a time well first of all I mean the definition of an entrepreneur is someone who solves a problem right and now if you’re solving a problem as you and I

[00:05:01] both agree it is easier to solve something big than to do something small and the reason for that it’s a counterintuitive that people think the bigger problems are harder to solve I say bigger problems are easier to solve than a small problems because when you have an audacious idea that is going to fundamentally change how humanity is going to live it allows you to attract the best and the brightest Talent around the world because the most successful people want to become significant and the smartest people in the world want to work on the toughest problem so give them a problem that actually they want to work on and once you have that amazing team you get all the financial resources you need because every VC wants to SM invest in the smartest teams right and now you have already an smart audacious idea and that becomes a magnet for everything you want to do and that’s why it’s so much easier to do something or aous than to do something small yeah

[00:06:01] I I I get that and but you know you and I have both been parts of of space companies that haven’t made it I mean uh you know for me it was planetary resources I remember when uh for those who don’t know years ago I co-founded a company called planetary resources that was going out to mine asteroids I remember being on a conversation with Elon and saying would you buy the rocket fuel we deliver in orbit and he said Peter uh yes of course if it’s cheaper I would but it’s too early it’s too early and um and I was like No we’re going to go make this thing happen and it was too early and and moon Express uh which was your your company so listen big bold ideas are great and I love them but there is a timing element right and and it’s and it’s like the kid who says I’m going to go and build a rocket but they’ve never built anything in their life so how do you how do you actually how do you balance between the audacity of where you are in the time cycle and

[00:07:00] where you are in your career absolutely so I think this is where I think may be a good time for me to lay down the framework for creating a moonshot company let let’s let’s do it I love your framework I’m going to add to it but yeah let’s go ahead let’s go to that so basically any time before you start some any company any project that is audacious ask yourself three questions why this why now why me and why this is really simple ask yourself God forbid I am actually successful in solving the problem that I set out to do would it help a billion people live a better life right so whether it is mining the moon whether it is mining the asteroid you say okay let’s assume we are successful how would that help a billion people live a better life and if the answer to that is yes then you say okay and the reason you do that is not because you’re just philanthropic thing to do it is a capitalist thing to do because anytime you can build any product any service that helps a billion people live a

[00:08:01] better life you can create a hundred billion doll company you don’t wake up in the morning yeah let me me add to that you know it was the that was the ethos around which uh I co-founded Singularity right if you want to become a billionaire help a billion people the world’s biggest problems the world’s biggest business opportunities so yes if you’re going to go for something you know can you go after something that has that potential level of scope agree and also it is the reason it is also easier is that if you have a product that helps a billion people they become your loyal customers right so in a sense that do something that improves people’s life and that’s what creates a massive company so to me making money is a byproduct of doing things that improve people’s lives so every day you ask yourself what can I do to improve people’s lives and this is how you create a business out of it right the second part is something that you we were just talking about which is timing why now and the why now actually has the

[00:09:01] two-part process in my in my framework one is ask yourself what had changed in the last one to two years but more importantly what do you expect to happen in the next 3 to five years that will allow you to solve the problem at scale in the next 3 to five years and this problem could not have been solved five years ago that means you fundamentally saying is this are you intercepting the exponential Technologies of tomorrow to solve this problem or you’re using yesterday’s old technology to solve tomorrow’s problem and Peter I want to get your thoughts on it because this to me is something very close to what you you know you and I chat about hey thanks for listening to moonshots and mindsets I want to take a second and tell you about a company that I love it’s called levels and it helps me be responsible for the food that I eat what I bring into my body see we were never designed as humans to eat as much sugar as we do and sugar is not good for your brain or your heart or your body in general eneral levels helps me monitor the

[00:10:01] impact of the foods that I eat by monitoring my blood sugar for example I learned that if I dip my bread and olive oil it blunts my glycemic response which is good for my health if you’re interested learn more by going to levels. link back/ Peter levels will give you an extra 2 months of membership it’s something that is critical for the future of your longevity all right let’s get back to the conversation in the episode I’m going to go back to a story uh when when starting singular univ University I met the founders of Siri and this yeah this was just before they sold Siri to Apple and I remember they said something that stuck with me which was uh I said you know why are you doing this and why are you doing this now and they said they said something that was uh impressive they said listen uh we think the technologies that are going to enable Siri to exist uh are going to be coming online and in the next 2 to 5 years and

[00:11:01] I said do you mean that they don’t exist right now they said well not really but they’re going to exist in the next 2 to 5 years and they said the next thing they said was listen if you’re building a company based on technologies that exist today uh then by the time you bring it to Market it’s going to be out of date it’s obsolete and so you have to be skating to where the puck is going to be and you know warning I’m not a sports person so um but that’s a fascinating thing and I and I agree with you the why now and the and what is going to be possible in and that time frame of of two three five years I think is is right is right on and I think you know again a lot of the times people when they look at these problems and I think the second part what I look at right now is to start to break down a big problem into smaller chunks of what are the things that need to be done for the big problem to be solved right so when people say hey I want to live on Venus or I want to live in a different galaxy is instead of saying it can’t be done you simply say

[00:12:02] what problems need to be solved for it to be done so you say hey to live on Venus what’s the problems number one is you have to be able to leave Earth orbit great so that’s the one problem second is able to go from Earth orbit all the way to Venus second problem to be able to live uh to land on Venus third problem to be able to Now find a way to live on Venus that a fourth problem right and now you start to see which of these problems are incrementally is already solved or incrementally can be solved in the next two to three years and what are the problems that you actually should be working on that really needs most attention along that lines there a there’s a part of this equation that I’m curious that i’ I’ve gotten a uh strong opinion about and I’m curious about your thoughts which is when you’re starting a company even if something is just materialized that opens up that market and if Technologies are enabling in it the importance of generating early

[00:13:02] revenues uh building a real business that has deliverers a dollar I remember when when uh when we’re forming singular University um I went we were at the end of the GSP our summer graduate program we were asking students to start a company and and the question was should they start a company that’s trying to build a you know impact a billion people or start a company that’s real and I went to the to the Whiteboard and I drew an exponential graph and I said listen what you want to do is build a company that in 10 years has the potential to impact a billion people but today is actually generating Revenue because solving a small solving a problem along the way along the way right in other words because the the way I think about it is uh the billion person inspires the heart and get people emotionally excited the ability to generate Revenue in the beginning and actually have a real business inspires the you know the

[00:14:00] critical mind and I think you’re absolutely right I Peter I mean every company that I mean if you look at wome that is fundamentally what we said hey we can fundamentally understand the human biology at a molecular level and solve this massive problem of chronic diseases cancer and aging but what do we do today we sell the ultimate test that you can understand what’s happening in your body and to be able to know what foods to eat what foods not to eat what supplements you need what supplements you don’t need but that allowed us to collect massive amount of data that in the next four five 10 years will allow us to solve that problem but as you said along the lines we created these businesses that are not tangent so one of the things you have to be very careful is not to Simply go where the money is make sure you’re building the businesses along the curve of that will take you to the ultimate goal rather than keep dist getting distracted about um doing things that make no sense and and I can give you an example Peter

[00:15:00] which I think might hit home so you know when covid happened it was pretty clear that as you know at why we do Mr mRNA testing to us doing a covid testing with a no-brainer we do this every single day and when that problem came along we said Hey by doing this would it help us actually bring us closer to actually ultimate goal of understanding the human body and to be able to solve the problem the answer was no because it was simply way of making money a test and I have no idea what’s going on that’s that is incredibly useful right because as an entrepreneur it’s so easy to get distracted so easy and in fact you know one of my lessons learned my first space company was a rocket company and we had this incredibly powerful you know massive transformative purpose to to build a vehicle that for a million dollars could launch 50 kilograms to orbit and we had a plan and so forth and and what happens is all of a sudden we start getting attracted by the

[00:16:01] government and the defense department to build a launch vehicle this was back in the early 90s B way before SpaceX and and we ended up um chasing after these government contracts and we ended up building a vehicle that was not a million dollars but $13 million and it was much bigger and it was not and it became like all the other launch vehicles and we lost our uniqueness we lost our MTP and so ultimately not being distracted by getrich quick or near-term opportunities that Balancing Act but at the same time generating Revenue along the way and not waiting for that you know insert $100 million in Miracles here to get to a product so we did that by so instead we say what can we do that will be along the lines of what we want to do so we were only doing the gut test and we said hey instead of doing the co testing what if we can Now launch a second test that will include the gut test and a blood

[00:17:00] test so we can see the interaction between the human host and the microbiome and that will actually not only generate Revenue but also actually move a step further along the lines of what we want to do and to me it was like do we spend time building this test Health intelligence test or go do the covid test and we decided we’re going to go do this even though it may not be obvious and we giving up tens of millions if not hundreds of millions of Revenue on Co testing but to us that was the right thing to do and I think we made the right decision yeah you did I mean there’s also hundreds of companies doing covid tests right now right and and and no one else in the same ballpark as viome so so that was the second uh moonshot advice what’s the third third is the probably the most important part which is what questions are you asking that are different from what everyone else in the industry is asking because the questions you ask is the problem you solve and this to me is a very very important part and I think Peter you and

[00:18:01] I need to spend some time here and give examples of that because this is so critical to any entrepreneur who is thinking about doing an audacious idea because most people tend to believe that what everyone else is doing is what they need to do then you become a commodity right so what is that you are asking that’s different like you did with your space I want to do something that’s going to cost a million dollar that is what’s going to be different it doesn’t need to cost 10 20$ 10000 million for you to be able to do something and that was your way of actually asking a different question why does it cost $10 million to do something to go to the space right so I think now going continuing on the theme of space we were talking about living on Venus if somebody were to say hey if you want to live on Venus how are you going to grow the food on Venus and when you ask that question what you’re fundamentally saying is the only way humans can live somewhere else is to actually have food to eat and you know it’s not a bad assumptions except that when you ask a

[00:19:00] slightly different question why do we eat food and by asking that question it opens up the possibility the only reason we eat food is because we need energy and we need nutrition and you can say what are the different ways we can get energy can we get them from radiation like many bacteria who live in radioactive nuclear waste what nutrition do we need we need hydrogen we need oxygen can we find water that will give us hydrogen and oxygen right suddenly it opens up the responsibility for the solutions that never would have come by simply asking how do we throw the food so Peter your thoughts on that listen I I say to kids and to CEOs the most important thing for you to do is ask great questions the quality of your questions determine the quality of your success in life and especially in a world in which you can know anything you want anytime you want anywhere you want so asking asking great questions is is key um yeah I mean I I think the the thing that and so Peter teal talks about

[00:20:01] what do you know that no one else knows is another way of asking that asking that question well at least what do you believe that no one else believes yes that that’s the correct version of it uh so I I do think being distinctly different is important but distinctly different not for the hell of being different but because you have an Insight that is going to make unique yeah and I think this one of interesting part of the same question is that the world used to celebrate problem solvers I mean if you go back and look at and you know tens of years I mean everyone would say oh my God he’s an expert and people celebrated problem solvers and I really think we are now going to be living in a society where problems are easy to solve as you see if you know what the problem is you can Google and you’ll find someone who will can help you solve the problem the question really is now what people are celebrating is the actually the problem identifiers are really going

[00:21:01] to become the needs I love that you know I people say what should my what should my kids study what should they go and and I said listen the technolog is going to be constantly changing what you want to do is is study the problem space understand fundamentally you know if you’re the World’s expert in a particular problem and the Technologies for solving that problem are improving year on year on year but you understand the problem you’re always going to be in need if you understand the technology it’s going to become p a and I think that’s really the thing is and I think it’s the nonexperts that actually have the biggest asset is because they’re able to challenge the foundation of what experts have taken it for granted right how do you rethink and recreate and reimagine the foundation that every expert believe is there yeah listen let me me echo on that I one of my Peters laws that I love is an expert is someone who can tell you exactly how it can’t be done right an expert is someone really

[00:22:01] wants to talk to you yeah the challenge is if we if you disrupt an industry uh and uh you are basically disrupting what a person is an expert in and so they’re completely incentivized not to have you disrupt the industry it’s like the entire process of peerreview really is is a challenge for me I mean I understand the value of having peer-reviewed science so you don’t have appearing on uh uh in in journals but the fact of the matter is that if you are successful in Reinventing an industry everyone who was an expert in that is now out of a job or a p a it’s a it’s a real problem and I think you know so coming back to just asking the right question it applies to almost everything we do is that in terms of how do you look at the problem very differently and I think to me I think as you talked about ex you know most most of the time people who disrupt industry come from outside the industry it’s very

[00:23:02] rare that people in the industry actually come up with disruptive ideas right you look at the space industry it’s Elon who came from the internet actually solving that problem or you know start to look at the automotive industry or you look at the taxi industry did not solve Uber solved the problem Airbnb solved the problem that hotels did not solve so you look at these thing that are people coming from outside the industry they actually tend to be the disruptors and there are probably two reasons and Peter I’m sure I’m sure you know more of them one is they don’t have any baggage in a sense if today a current industry makes 10 billion dollar keeping you sick and they want to make sure that they can continue to give you a drug for rest of your life and if you know there is a solution that will only make a billion dollars you as as an industry leader believe you’re losing a 9 billion here and entrepreneur who’s coming in he’s thinking I got zero state that if I make a billion dollar solve this problem I

[00:24:00] got a big industry to be solv here right so to them that billion dollars is a new money and for you it may be A9 billion loss right and that’s why I think one of the reason why you have the new people and sometime in the industry people obviously look at what other people in their industry is doing and that becomes everyone is becomes Lings they follow each other and whereas the solutions lie in a completely different industry yeah no I I agree my friend um you know it’s the example I love giving is Kodak that considered themselves to be in the paper and chemicals business because that was their profit Center and so when they invented the digital camera they actually ignored it and then you have Instagram which comes along and and reinvents the photo industry though I happen to use photos sharing apps as the example of what not to do because there are enough photo sharing apps my question is what are you going to do with your time to actually uplift Humanity I I I’m I am curious uh from

[00:25:00] from your standpoint coming in naively into an industry um what makes you go into that industry I mean you have to have a level of of passion and desire to uplift Humanity but then there you’ve got to bring in some level of research some level of expertise to understand what’s driving you how do you think about that balance I I think first of all that you know that’s the second part of why me so you asked by me the first part was what questions you’re asking and the second part of this really is are you truly obsessed about solving this problem in a sense that is this something you’re willing to die for and then live for it is this something when you wake up in the morning you jump out of the bed wanting to solve and that to me has always been my way of living that when I wake up in the morning at 400 a.m. and if I’m not jumping out of the bed it’s time for me to do something different yeah and and you you talk about Obsession versus versus passion

[00:26:00] and purpose so uh you go ahead tell me tell me your definition there yeah so I think a lot of people talk about that you need to be passionate about something you do and I think the passion is for hobbies passion is for losers the winners have a true Obsession and Obsession not for material thing Obsession to solve the problem Obsession to say I want to dedicate my 15 20 years of my life to solving this problem because it matters to me because I believe if I can solve this not it will matter to billions of people whose life will be different because of what I do so I’m going to turn the tables here a second uh because there’s a there’s a topic which uh is the flip side of being over obsessed and over passionate which is when it’s time to actually kill a company where where you know you for all the right reasons you entered the marketplace you did your best and at the end of the day it just isn’t working and

[00:27:03] continuing to pour money in and in particular as an entrepreneur uh your time is your greatest asset continue to put a time into this uh and raise money around it you know and I found myself a few times in life you know I’m on my 27th company uh you and I have have done a number a number together but there are a few that you know where was I I took in money I hired people I took money from my family from my friends and I feel this level of obligation and we’re we’re working on this and it just isn’t working you know we’ve gone down the wrong evolutionary path or the market has changed and and at some point there needs to be a you know time of death I think there a better way of putting that there time to Pivot remember the company is just a shell what it does can change so your ideas may or may not work and every idea that does not work is simply

[00:28:00] a tapping the stone to a different idea and a bigger idea right you look at Twitter Twitter didn’t start out as Twitter they were you know different Company the company did not do well they say look guys current investors we can return your money or we are going to Pivot into doing this micro blogging service and some investors stayed with them and some say give us a money back but the point was they pivoted and they created a different company and in fact you could argue that almost every successful company has gone through a near death experience right whether you look at Facebook you look at Oracle I mean every one I agree I agree with you right so so point is that’s the time to Pivot rather than give up so the idea is you said that path does not work and I’m going to go with a different path that may work and your idea is to keep the same purpose alive so you never give up on your purpose you give up on the execution of that purpose and you move on to the next next thing I listen I agree with you and I’ve seen and I’ve

[00:29:00] done just that where it’s like we’re going to we’re going to shift to A to B to C and my my my game my the way I describe this is listen you’ve got plan a b and c and then D andf and GH and I and when those don’t work there’s JK andl and and you continue but there is still a time uh in some companies right for me it was plantary resources for you as Moon Express there is a time where you say okay this isn’t the my my my time my money my reputation um and and let’s talk let’s go to that problem space right now because it it it is and so first of all again when the company is not working it is you can’t essentially die die with that company you have to say Okay what mistakes we made that we can learn from what can we do can we find a good home and essentially find another horse we can tie it to so our cart will continue that

[00:30:00] means our purpose continues the purpose Never Dies it may be a new jockey for that horse it may be a new fuel for that car it may be something different but the point is you never give up on your purpose and sometime you align with someone else who continue to pursue that purpose right so so in fact the two times where I’ve had to effectively kill a company we sold we sold it for pennies on the dollar to someone else that merged it into their operation yeah and I think the main thing again Peter I think I want to shift the topic to maybe how do you raise children with the same kind of thinking that you and I have had and that to me has always been the most uh fascinating part that I find that it’s easier for us who came from immigrant families and say look we have a tremendous amount of hunger to do it and when we become successful our kids watch us and how do you raise children I I want to I want so those of you listening

[00:31:02] who have kids this conversation uh is going to be a master class and something that is I think critically important uh but before we get there I want to contextualize this a little bit naen tell me about your child tell me about your childhood and you’re coming over uh to the US from India just give me a little bit of context and then we’re going to talk in talk about your three incredible children ancore prianka and Neil uh and and what we’ve learned about their success in raising them so I mean obviously Peter I grew up in India and we were very poor we had no food to eat we had barely any place to stay and we moved from Village to Village to Village and I came to United States 40 years ago with $5 in my pocket barely spoke the language and God has been very very kind to us I mean they just know two ways of looking at it there’s everything that we could have possibly ever imagine you know we the God’s kindness have really

[00:32:00] showered on us right and with that we I always feel that there’s a tremendous amount of obligation that I feel that how do I give back to the society that actually uplifted me embraced me and gave me everything that I have how do I go back and contribute and there are two ways of doing that that at my age I’m 63 now I still continue to start companies that can actually Help the People live better so that’s one way of contrib and the second way of contributing is to actually raise children who continue to build these companies that are going to continue to uplift Humanity so it’s not just leaving the better world for your children but also to leave a better children for the world and that’s how you continue on that Journey love love that love that so to contextualize this let’s talk about your your three kids uh how old are they what are they up to and then we’ll talk about how do we how do you get them there good I think that I’m I’m really excited about the second part about that you know this how parenting

[00:33:00] is so counterintuitive but let’s talk about the three children because that is never the opportunity that I would pass upon so I the oldest son is Uncle uh he’s 32 years old and he obviously went to Warton and he started the first company when he was 17 years old a nonprofit to help you know hundreds of thousands of entrepreneurs around the world with kyos right now today just to give you an idea he’s onto his third unicorn he just in this market where no one can raise money he raised 150 million at 1.5 billion pre money valuation as a series a series a right now what he’s doing is fundamentally something that anyone could have done but everyone says it was not possible to do so he started looking at the things that people who in his class like him are graduating they can go get a job and when they get a job they want to find a place to stay so he said look I know I

[00:34:01] can afford this apartment I have enough salary but I don’t have the money to give them the first month rent the last month rent the security deposit now I got to borrow that money from someone and he say everyone of the college kids suffer through that can we do something so the first company he did was Rhino which say hey why can’t I just do a $5 a month insurance so I don’t have to pay a deposit you can add $5 a month into the my monthly rent and that was a brilliant concept cep of actually getting rid of security deposits and the and essentially just giving it $5 so kids can move into the rent the second problem he saw was everyone who rents a place complained and say I just keep wasting my money on renting the thing I’m not building any Equity I’m not getting anything for it how do I you know and it just sucks and he says it doesn’t need to suck so he created a credit card is called built BT built rewards literally imagine everyone assumes that when you put something on a credit card the merchant will just have

[00:35:01] to pay two and a half 3% fee anytime you put something on a credit card that somebody has to pay two and a half% so if you’re putting a rent on a credit card the landlord will get two and half 3% less money landlord doesn’t want that and it was just taken for granted that is how it is and he says to himself why does it have to be this way and every credit card company every Bank says this is how it is take it or leave it so he went to MasterCard and he says look you’re number two you’ll always be number two what if you what if you wave the credit card fees on rental and Rental only and that can now 650 billion dollars of payment are made every single month and you could have all that on a credit card and you could be the number one credit card and could bypass Visa if you could take that risk and he convinced the Master Card card to actually wave the thing so today you can get a no annual fee credit card you can

[00:36:02] put a rent on a credit card you get the points on a credit card landlord gets a full money you can use the points one to one on any airlines you can use the point to pay the next month rent or you can use the point he went to HUD and got them to agree the points can be used as a down payment on buying a home I mean amazing the point was he took a problem that he affects massive amount of people and he went on to solving it not saying what do I know about real estate I never heard of a credit card industry what am I going to do about it and he built the solution that actually made everyone’s life better now what happened Peter is every single landlord wants their renter to not give them a check but put the money on a credit card so they’re pushing the credit card on any renter and the reason is they Bild it on first they get the money money on second renter loves it because they have a 21-day float until they have to pay the

[00:37:01] rent everyone benefits and guess what now he makes money on the transaction he makes money on every one of them for the credit card so his cost of customer acquisition is zero incredible brilliant right now that’s Uncle now our daughter Priyanka went to Stanford and Peter obviously thank you for helping her guiding her along the way and so did Uncle by the way I’m going to come back to you in the second year but let me continue on so Priyanka went to Stanford she is a Stanford stamp fellow Stanford Mayfield fellow and she graduated from Stanford and the first company she worked for was using AI to remove gender bias in hiring she cares about women’s issue and now she is a founder and CEO of a company called ABY evvy that essentially is focused on women’s health and what surprised me was she tells me that until 1993 women’s weren’t allowed to be on clinical research that means every single drug that we are taking or women’s are taking

[00:38:01] and not designed for them not tested on them and no wonder they don’t work on them because women were considered as a small men it it it’s by the way for those who don’t know it is a travesty that uh that all research was done on medical research was done on men because there was inconvenience of menopause or menstruation and now I think it numbers like 70% % of all drugs that taken are taken off the market are taken off the market because of their impact on women which were never tested on in the first place it’s even further even when we are testing them on rxs and mes it’s only on the male male R and think about that it’s just insane right so she went on to solve that woman’s health problem using vaginal microbiome which to me was another big audacious idea only impacts 50% of humanity but at least that 50% I would say actually impacts 100% of humanity

[00:39:01] because every one of us have wife or a daughter whose life we would rather give up our life for them so it really impacts every one of us around us right uh the our third one who is so by the way she’s 28 and a third one is Neil uh Neil is now 25 years old he is another Stanford grad and he became a schwarzman scholar they only take 50 people around the world so he’s a schwarzman scholar and he’s looking at the problem from the other side he said Uncle you keep focusing on rent I’m going to go focus on the home mortgage so he fundamentally now looking at how do we make the experience of mortgage how do we get mortgage are constantly getting resold how do we make the whole thing such a pleasure pleasurable experience for billions of people who actually pay mortgage RS right so all three of them went off to look at the big problem and solve them and then you know as you go along I want first of all hear your thoughts since you have known each one of them since they were a little kid in

[00:40:01] diapers yeah it’s it’s it’s been beautiful I’ve had the chance to Mentor all three of of your children and uh I’m so proud of of of what they’ve done the one the one thing I remember when Encore was getting started um his appetite was was his eyes were bigger than his abilities and he was working on five or six different companies at the same time and and when he decided to focus in uh it really was extraordinarily successful Peter Peter I’m gonna ask you take that advice from that young kid so so that’s an interesting that’s an interesting conversation to have right because I am I am definitely uh guilty of doing way too many things and not and not focusing in for sure I I have more as better disease in my life um but just good good human being beings and uh and and so talk about you and Anu

[00:41:02] uh your wife what how did you how did you raise them what was what was because one of the things you know when I was growing up my dad was uh OBGYN my parents were both born in small Island of Lesbos in Greece and came to the US and it was expected I’d become a doctor and I did become a medical doctor to make them happy but it was not what I wanted to do so the balance between uh inspiring your kids to think big to be uh good human beings first and foremost but not you know not pressuring them to follow your footsteps what’s the balance there first of all Peter before I go there I want to thank you and I want to thank you uh you know and everyone who’s listening to it Peter has done more for our children our families in terms of guiding them mentoring them and really giving them that inspiration that everything is possible and he has been a great influence on our family and I

[00:42:00] think one of the things that Peter and I have really enjoyed is that every time we go we go as a family together to at X prise we are there with the kids because I want them to be exposed to everything that I am learning so that when I go back home I don’t sound like a foreign person they saying dad what are you talking about what are you talking about it doesn’t make any sense right but since they were exposed to the same thing we could have those discussions at home so everyone who is really listening to it I would probably encourage them to really you know go to abundance 360 go with your children because to me when you expose yourself you expand your mind and no longer you’re able to have that communication with your children so if you can bring them there you have a common vocabulary the common language and now when you can talk about the possibilities they actually can help you think through the stuff that you would never be because they have the same vocabulary and the language so I find that absolutely fascinating and I always

[00:43:00] always been in fact coming to X price taking them all through Singularity University every one of the kids went through Singularity University right and every one of them actually even Neil who actually was your Chief of Staff him going through the China as a platinum trip it has opened his mind and that was the only reason he actually decided to become a shortsman scholar is because of that what happened at that trip and he being exposed to it so Peter thank you for that well it was a joy now coming back to the things in terms of raising the children in affluent family right obviously uh in the early days um by the way by the way that that’s an important point to make it’s more difficult you know especially when you have a successful dad like yourself right and and how do you how do you uh enable your children to think bigger versus a lot of second generation wealth uh doesn’t have that drive that’s right and that was was the main thing for us was how do we bring the same drive and you know

[00:44:01] passion Obsession to solve big problems into our into our children so I remember very early days when the kids were young and my first company as you mentioned was wisely successful and I you know my wife said you know maybe we can live in a small home and we can tell our children that we don’t really have much money so they will have the drive and I said sweetie one day like it or not I hope they can they will learn to read and when they learn to read they will realize that Dad is not poor so let’s not fool ourself into thinking so I say instead we need to reframe the discussion of what success is and I think that’s probably what I want to share with you now is so when the children were young there were a couple of concept we brought in which I thought were very different and counterintuitive to what people would say one was that our love for you is unconditional but our approval is not that means we’ll always love you you know there is nothing that we won’t do for you but we’re not going to tell you

[00:45:01] we are proud of you until you do things that actually improve other people’s lives that means we want you to focus on improving you know billions of people’s lives and the more people life you improve the more proud We Are of you right the second part was really interesting was as opposed to you know most parents when they get the first success they feel it is their obligation to spend time with the young children and they want to actually stay at home and spend more time now that is the most counter intuitive thing you do because imagine now from their perspective it is a very selfish thing on your part but what children see are very different what children see is when they are going to school Dad is sitting on the sofa watching CNBC they come back from school they see Dad says go to your room work hard hard work is what it takes you got finish your homework I want you to work hard and they see the dad sitting on the sofa watching CNBC in their mind what

[00:46:02] they thinking is I want to grow up just like my dad sit on the sofa and watch CNBC so what I’m trying to say is they don’t do what you tell them to do they do what they watch you do right now instead what Dad did was very interesting after the first success dad didn’t set at home dad started the second company dad started the third company dad constantly looking to solve problem that says we’re going to go to the Moon we going to start Moon Express we’re going to focus on going to the Moon that can’t be done let me show you how it is possible dad turns 58 dad is going to do healthare dad what are you thinking time to retire you can’t do healthare you know nothing about healthare let me show you how it is done point is when you do that our children always thought that is a complete for every single kids don’t get to Ki they think their parents are complete morons if they in their mind if Dad can

[00:47:02] do this I can do anything D is the if he can build Healthcare let me show him how it is actually done so her daughter says let me actually show you how Woman’s Health company is actually built now right the point was they watch you do so in all seriousness do the things that you want them to do don’t go out and preach them what to do right and the third part of the thing is you talked a little bit about this idea of imposing on your children what you do and I want to share a story that actually I did write on Inc magazine it is an entrepreneur versus his ey rolling teenage daughter say that again an entrepreneur an entrepreneur versus his ey rolling teenage daughter okay got it and this whole story was about when Priyanka was young I think about 15 or so she comes to me and said Dad I know you love science and technology I want

[00:48:01] nothing to do with science and technology I have my own passion and I want to pursue my own passion now most dad at that point would have said sweetie what’s your passion I want to help you pursue your passion instead what I said was you’re too young to have a passion dad hasn’t done his job yet to expose you to everything so that you know what is out there before you can tell me you don’t like it and then she wrot so I said you know and I said sweetie I want you to really learn be exposed to Neuroscience the genetics and then you know artificial intelligence and nanotechnology and she rolls her eyes and said dad you don’t hear a word what I said I want to do nothing to do with them and what happened was really a complete Game Cher and we agreed that if she if she allows the dad to do his job of exposing her to these things she will get to decide what she wants to do and I would completely support her so

[00:49:00] agreement was if she goes to Singularity University and she spent four weeks learning with an open mind wanting to learn and wanting to like the Science and Technology then she get to come back and she can tell me whatever she wants to do I will support her and she went to Singularity University I remember that summer we we created a a special high school program uh that that enable enabled prianka and some amazing students to do that yeah so she came back home and I remember it very clearly she opens the door and she says Dad I made up my mind and my first words were oh said sweetie I gave you my word what is it that you want to do and you have my 100% commitment to making whatever you want to do successful in that she said Dad I’ve decided I’m going to become either a geneti or I learn about artificial intelligence what what happened here at the risk of you changing your mind what happened she said dad you’re so

[00:50:00] dumb I’m in high school I go to these high school classes and I mix things and they change the color I’m looking at these M I’m thinking why would I ever in my life do anything with this stuff right what I realized going to Singularity University was these tools and Technologies are simply the tools in my tool chest for me to do what I want to do that means they are not the destiny they’re simply the means to an end imagine now when she went to Stanford she became Stanford stamp fellow she started the first company using AI to remove gender bias she started a second company using Ai and genetics to help Women’s Health and her whole thing was she wanted to help women and girls and she did not realize that what you learn in science and technology is what allows her to pursue her passion and without that she would have never found a true way of solving the problem and world would have lost St in a great entrepreneur amazing and the reality is a lot of times it’s so difficult for the

[00:51:01] parents to uh guide the kids and you need to hand them off to a trusted third party in this case it was at Singularity University or when or when your kids were were you know interning with me over the summer and um and you know listen it was a pleasure because they’re they’re brilliant kids and I don’t the challenge is and I want to go to this right now I’m my boys right we have uh Chris and I have two boys Dax and Jet um they are 11 today and my concern is that today’s Educational Systems are are elementary schools middle schools high schools are just not preparing kids for the future that’s coming um and and they’re just it’s it’s very fundamental it’s uh you know test-based learning yes we need the fundamentals of Reading Writing arithmetic and basics of Science and so forth but the tools that you know that they have access to that they need to be

[00:52:00] learning how to utilize and uh to be inspired just isn’t happening and pet I think partly I think you have obviously started the whole education ex prise and part of it is the same which is as opposed to fixed time variable learning can you do a fixed learning variable time like a video game can you actually make sure people learn before they move to the next level rather than everyone mov to the next level without ever having to Lear exactly so listen the realities are at school today first of all you know it’s a it’s a sage on the stage it’s one teacher in the front and 20 30 40 50 60 80 kids half of which are bored half of which are lost right and then on top of that we end up in a situation where you know and I hate this part when you are when you’re in school you start at with 100 points and every time you get something wrong your average goes down and then in the Video Game World you start with zero points every time you do something correctly your your average your score goes up the incredibly

[00:53:00] perverse uh process that we have add to that the notion that you know we have uh three months of Summer and nine months of school and why do we have three months of Summer do you remember the reasons why we have summer vacations because the teachers wanted to uh no it’s because because 100 years ago the kids needed time off to go and work the Farms to get ready for the Harvest in the fall and so it’s like you know we stop listen if I said that to my kids they’d kill me for not wanting to have a summer vacation but the reality is uh we haven’t reinvented education and there’s a you know large uh ingrained institutions and unions and processes and so there you know I do think in the final result and I’m curious about your thinking here that we’re going to have ai and web 3 or VR whatever where I can go into a virtual world and I can I can experience and learn and play the game of learning by Peter you know truth is

[00:54:02] when Uncle was two and a half three years old all his education was done using CD ROM people probably don’t know what that concept is they they were no online thing you put a CD ROM in the things and you actually played game he learned math from Math Blaster he wanted to play the game of shooting and the only way he could do was to learn the addition subtractions and things and literally the I remember the reading rabbit is how he learned to read so actually gave him the game that he loved playing and the whole thing was for him to learn using those games and you know I think the interesting thing is learning to solve problems is what is going to be the skills that you need and those problems are multidisciplinary so yes you can have expertise in one but most problems are not a un single Focus they are multi-disciplinary and learning to connect the dots is a skill that is actually rarely taught in the in the

[00:55:00] Colleges and Schools and if I may actually share with you the very interesting things we did at least I did with our young children most parents read most parents read story to their children and they thought that’s literally the culture of American culture when they go to bed you read them a story I actually flipped that and he said uh you know Uncle tell me a story and I would give him the three most different things I can find about it give me a story tell me a story about a monkey an apple and a uh an ocean now he in his idea was for him to believe the things that can never be connected are somehow or interconnected he will tell me a story and then we’ll turn around and say dad let me now you tell me a story about a coffee this and that and in his mind those things can never be connected now Dad’s job is to connect them what he learned was every every dot can be connected with other things if you creatively think about it genius I

[00:56:00] love that I absolutely love that and it’s true right because this is where real Innovation comes in where you bring unlikely bed fellows together and see what can materialize out of that absolutely that’s extraordinary hey everybody I hope you’re enjoying this episode want to tell you about something I’ve been doing for years every quarter or so having a FLOTUS come to my home to draw Bloods to understand what’s going on inside my body and it was a challenge to get all the right blood draws and all the right tests done so I ended up co-founding a company that sends a flamous to my home to measure 40 different biomarkers every quarter put them up on a dashboard so I can see what’s in range what’s out of range and then get the right supplements medicines peptides hormones to optimize my health it’s something that I want for all my friends and family and I’d love it for you if you’re interested go to myli force.com back SL Peter to learn more let’s get back to the episode uh let’s let’s jump into the conversation of of

[00:57:00] mindsets if I were to ask you you know I talk about abundance exponential mindset moonshot mindset uh longevity mindset what are the mindsets that have made you successful naine obviously to me the number one thing that has really uh changed the way I look at life is the possibilities of uh the what is possible not what is not possible and let me rephrase that I think didn’t come out quite the right way is that the possibili that what if this could actually be solved so the two words that I always loved in in English language are what if and imagine imagine is the only word that I know when I say Peter imagine all of your preconceived idea go away and now able to say imagine a world where this happens and just the word imagine it takes away all the preconceived ideas with him you can create a completely new story out of Peter’s mind because he’s ready to

[00:58:00] imagine right so and when you do that it allows you now the question really you have to ask yourself is when you tell someone to imagine is it vivid enough is it detailed enough that someone can actually create that picture in the mind so you can’t say imagine a company that is $500 billion worth and is a market leader in this and like I don’t know how to imagine that but imagination needs to be something as clearly as Martin Luther King says imagine a world where a black girl is walking holding a hand with a white boy walking hand in hand together with it anyone can imagine that and so your job is when you say imagine is to create as detail way to someone to say that’s the what we want right so anytime I create a company I create that vision of imagine so our tagline as you know is always being the same imagine a world

[00:59:01] right imagine a world where illness is optional right what does it meant meant was imagine a world where your mom is no longer sick your grandma no longer need to can your grand Uncle didn’t have to die from cancer and the reason I see that is that is how you move people from saying I want to be part of your journey yeah now imagin I mean it’s it’s innately the most powerful human element the ability to to imagine the future and then to materialize it along the way and I think those are the skills going back to our skills about kids is enabling them to imagine and then giving them the confidence to be able to go and take their shots on go and the two other parts Peter I want to add was what if so every time someone says it can’t be done you say what if it was possible what would would that world look like so you start to switch what if and the third part that I find Most Fascinating is

[01:00:02] why get to the root cause of the problem and you have to really behave in a mindset of a 2-year-old why why why and and when you ask three wise you get to the root cause of why actually it happens right and I can give you an example which I think most people may may find fascinating So when you say there is you know on planet Earth we have a problem of a clean fresh water is one of the biggest problem facing in Africa and many countries and you as an entrepreneur say I want to solve that problem and you go out and you build you know the Nano filter STW and you build all these things because you think that is a problem Until you realize somebody says why is this a problem and you say oh 50% of all the fresh water is actually used in agriculture and you say oh so I need to solve the agriculture problem and now I’m going to build a you know pick a thing you want aeroponic

[01:01:00] thing Hydroponics Agriculture and you’re focused on that until someone ask why do we have a agriculture problem and we say well majority of the agriculture is used to feed the cattles and really the problem is you have the you need to solve the problem using the cattles now you’re trying to figure out how to minimize the cattles and you realize it’s really a synthetic biology problem creating a meat without using to have to create a cap right I I I love that you know and it’s when I think about about the mindsets that have made me most successful and I think they apply to you as well is a a willingness to keep going and to not give up right the majority of people when they when they hit a brick wall they they basically stop and they stop for a particular reason it’s not their I use their highest calling you’ll use obsession like if you’re doing something as a getrich quick scheme and and you know it you stop because everything is difficult

[01:02:01] doing anything big and bold in life is a difficult situation and if you’re doing it for the wrong reasons then you’re never going to follow through I mean all of the things I’ve done in successful in life I I jokingly call them overnight successes after 11 years of hard work it takes time and most people don’t realize they look at what Tesla did or what you’ve done or some of the things I’ve done and they say oh man that was so amazing how how quickly they made their Capital they don’t understand that all of these things have taken a decade or more and anything you know listen Easy Come Easy Go we’ve watched as Sam bankr freed and FTX you know exponentially up and exponentially down and we’re going to see those things um but the stuff that is substantial takes time and and if you’re driven by it if you’re to use your term obsessed by it if it’s your highest calling in life then when you hit a brick wall you’re going to back

[01:03:01] off you’re going to ask the question what went wrong do I still believe you know this dream that I have and pick yourself up and and go once again but it takes that level of passion commitment continuation wall is there because you’re so close to it all you do is you step back and you can see you can go around the wall you can lift yourself up and go over the wall and you’ll find many ways if you’re truly obsessed about that the last part Peter on that and it might be more coming back to our kids the Curiosity and I think there’s something I want to just you know emphasize here this is the biggest thing that you and I have in as Spades is curiosity so one of the things that I found really interesting was that as a parent and as a teacher we always want to teach the children in a sense is that we take them to the water and we make them drink and what I realized was the best way to do that is not to take them to the water and make them drink is to make them thirsty if you can make the

[01:04:02] children thirsty they will find their water and they will drink it every single time and how do you make them thirsty is to create that intellectual curiosity once you give that to children they can never stop learning because they will always be asking why why does credit card have to have a fee why the women are not involved in the search why is the mortgage has to be so tough right is giving that intellectual curiosity and then even though you and I always say it’s better to be a non-expert but you and I probably are once we get into the industry we drill deep I mean we read research we read knowledge I mean in last six years when I started a biome I didn’t know what DNA and RNA was and now I can use big listen B I’m I’m I’m I’m so impressed right I’ve got two universities I’ve wanted to give you an honorary modal degree or PhD and so forth it’s it’s incredible how deep you

[01:05:01] have gone to hear you talk about uh illness and about RNA and about molecular uh you know variations of particular digestive situations it’s extraordinary so and and I think it’s that it’s that intellectual horsepower and curiosity and I agree with you curiosity is one of the most fundamentals it’s and the question becomes at what point do you switch from Curiosity to Obsession right because I think one of the things I’ve talked about with a few other podcast guests in the in the past is curiosity is the means by which you discover your passions that turn into purpose and obsessions here um when do you when do you shift and say okay this is big enough this is enough of a moonshot this is where I want to and you know I I use uh this quote from I got from Tom bil’s dad you know uh uh you know something you would die for and live for it uh for

[01:06:02] sure when do you make because honestly at the time in which you make that commitment uh to go and build a moonshot company to go uplift Humanity you are making a decade long commitment you’re not if you’re doing it right you’re not doing it for a little bit you’re not doing it for a year you’re not going to flip it over a year you are making a commitment that is going to trans transform your life and and one thing for entrepreneurs I want to come back to this is you’re going to spend more time with your co-founders and your leadership team than you are with your spouse or your kids and so you better love what you’re doing because if you’re really going to make a dent in the universe it’s a decade long effort well I think you’re right that how when do you believe that this is your calling and I think to some extent there are a couple of ways and I think you hit on one part of that the second part is ask yourself if you have everything you want

[01:07:00] in your life you have billions of dollars you have a amazing family you have everything you want what would you do and if you do that today you will get everything that you want and or in reverse that you ask yourself then when you wake up in the morning what are you willing to dedicate your 10 15 years of life or in other words what are you willing to die for and then live for it right yes I I want flip the conversation here there are so many extraordinarily successful individuals who populate the top of the Forbes 400 list these are the billionaires out there who have not just a billion or two but tens of billions nor in some cases yeah the question I have and I’m frustrated by this is I do not see that I see very few individuals uh far folks like Elon and Eric Schmid and Mark Benny off are are taking massive shots on go they’re using their wealth to go and change the world and a

[01:08:01] lot of other people are just sitting on it and creating more wealth what are your thoughts about this am I am I do I have it wrong you don’t you don’t and it just surprises me that people who have money they are so miserly and I you know to me what I find Most Fascinating is you go in the villages in India when people have absolutely nothing they will feed you with the best meal they can possibly give and be starving themselves but you as a guest they’ll feed you the best they can ever do right and people who are rich are just holding their wealth rather than actually using the weth for the benefit of humanity knowing that they cannot take that with them I mean what is it that they do and there some people at least as you know are taking these Moon shots I mean even Jack Visos you forgot to mention but even him he saying look I started Amazon for purpose of creating a multiplanetary

[01:09:00] society and he’s now dedicating his life to doing that at Blue origin or at least we want him to but Elon has now done you know multiple Moon shots I mean you know he is one great entrepreneur uh you look at the thing what he did with electrification of Automotive everybody knew it needed to be done but nobody thought they could build a company that could be electric car company let alone another car company right and he proved everyone wrong building a space acts that people thought only L feed and the big companies can do that he did that whether it’s a neural link is successful or not but the fundamentally having the mind and a computer brain computer interface doing it right now Twitter let’s not even go there so one of one of the questions you know I I was having a conversation with a gentleman who’s a benefactor uh in in one of my organizations I won go into it and I was asking asking him the question and say

[01:10:00] listen what up with you know how you’re using your Capital you know why aren’t you taking bigger bets and uh and really focusing on you know uplifting Humanity doing something that makes the world a better place versus making more money and he said something which I found fascinating and I’m just trying to get to the bottom of this a little bit more is he said uh you know uh it’s become enough of a game where you know you’re using your money to make more money and you’re sort of like playing this video game of life and I found that you know okay maybe that’s an honest answer but I found it lacking um and you know you can’t take it with you right and and so one of the challenges is if you leave it to your kids um you have a good probability of of actually making them lazy or destroying their lives yeah yeah and and so what what could we say to the wealthy billionaires

[01:11:01] out there that might Inspire them uh to be really going after moonshots that make the world a better place and I think that I would say Peter many of them just have not found their purpose in life because once you find your North Star or purpose that you’re truly obsessed about solving people will dedicate every penny that they have to doing that because if you’re willing to give your time to something the money will follow right so to me I think these people when they say this is a game that means they have not found a purpose their purpose is simply to play the game be the better better player in that game rather than have a true purpose in life that fundamentally changes the that transforms Humanity as you would say that changes the way people live their lives right and I think what you and I have not done is to really penetrate their mind to help them find their purpose and I think maybe instead of asking them to give their money is we

[01:12:01] should help them find their purpose because the money will follow yeah well and part of what what abundance 360 is and x prise and even this podcast is about helping people find their their purpose in playing a game because the fact of the matter is you can change the world yes right that fundamental mindset yeah every one of us can can make a difference and change the world uh you have to believe and you have to make an effort and you have to have a compelling vision and and do the work but you can I mean the belief system is probably one of the biggest barrier to why people believe they can’t right so they belief system comes from the the homogeneous culture that our society has created where failure is not tolerated right and to me there cannot be a success without failures there cannot be a people to take Moon shots without having some idea that won’t work and so to me the

[01:13:00] creating that uh belief system that says I believe in myself I finding that what I call you know falling in love with yourself and when you do do that it’s not about being self-conceited falling in love with yourself is very simple what that means is you don’t let other people’s opinion change allow you to not pursue your own dreams that means you don’t let other people’s own on opinion change the way who you are and I tell people the day you fall in love with yourself is the day the world will fall in love with you that’s a it’s self-love is a a critical uh part of of a of an entrepreneur because you’re going to be if you’re trying to do anything big in the world you’re going to get criticized by everybody why you you know you know how dare you think you can how dare you think you can yeah to to go after that and and you said something ear a few minutes ago that I think is very important is tolerance for failure um

[01:14:02] and and this is a challenge and societies I mean you grew up in India India has a a real a real issue South and Central America zero tolerance for failure right you fail it’s a black mark against you forever mean I mean obviously Peter I mean you know that in in select Valley where there are more entrepreneurs being created what is one thing unique about that culture is when you have failed people believe you have now learned enough you got enough wounds on your back to be able to say hey now this entrepreneur actually is the better entrepreneur than someone who has never failed right so to me and what I find about really fascinating about Silicon Valley and many of the things the group that you know we are surround ourselves with which is the second part surround yourself with people that believe in you that uplift you and that allow you to go

[01:15:00] even further where your dreams are the smallest dream in that group right so when you go tell someone you’re going to the Moon they don’t say oh that’s not what happen you they ask you where are you going to land what kind of fuel you going to be using you know they literally just of course you’re going to do that right and that is the kind of things you want to do so I think Peter I was going to turn on you and say how does someone find that community and group of people where you can actually dream big and even though you are crazy and you can sound crazy but those crazy ideas are just fine yeah I mean it’s it’s all about mindset again and your mindset people don’t realize your mindsets set by so many things it’s it’s what posters are on your wall I remember years ago uh you know when I was starting International Space University uh my co-founder Todd Holly had a poster of Murphy’s Law on the wall if anything go wrong wrong it will you know uh and it was like oh my God I just don’t want to stare that every day and I went to my wall and I wrote on it if anything go

[01:16:01] wrong fix it to hell with Murphy and I wrote Peter’s law on the top and that became the first of now what 30 some odd Peter’s laws and and so what’s on your wall what books are you reading uh what you know who are you hanging out with is everything if you want to become thin if you’re overweight hang out with thin people if you want to get in gr shape hang out with people in great shape if you want to take Moon shots hang out with people who are taking moonshots and who have these mindsets and you know that’s why we created singular University and abundance 360 and the X prize and whatever wherever you go it’s it really is because people who are inspired who are taking big shots on goal and failing and picking themselves up and taking another shot gives you permission to take your own shots and to fail and to take your next shot and ultimately it is we don’t know what’s going to succeed we all we can know is that we can keep trying experimenting

[01:17:00] iterating trying again um and until we find that that channel into the future that product Market fit that right inspired idea and so hanging out with the right Community is everything and as I like to say on every one of these programs stop watching the crisis News Network and stop wasting your time infecting your brain our brains are neural right our brains are neuron Nets and we trade neural Nets if anybody’s been tracking what’s going on in Deep Mind and open Ai and stable defusion and all of these companies that using machine learning we train neural Nets by showing them example after example after example we train them on data sets and the question you have to ask yourself is ultimately what data set are you training your mind on are you training your your mind on all the negativity and what you know watching Kim Kardashian are you training your mind on the greatest entrepreneurs on on the inspiring opportunities for the future and on you know really stories that inspire you to go bigger and so uh you

[01:18:02] know that’s what I love about hanging out with you navine is we we hang out and we just talk about you know you know all the possibilities in the world not the impossibilities and think Peter and I think uh coming back to you the things that I have learned the most is being part of that community that you introduced me to right being part of Singularity University allowed me to think differently being part of xprize really allowed me to think bigger and when you know abundance 360 and all of those things and your platinum trip I think to me to me is anyone who’s listening to it they can afford there they should really be a platinum trip I mean you learned so much on that trip about what’s the most Cutting Edge stuff that is happening and any one of those things if they don’t inspire you you need to go back and maybe do the second time all over again until you get inspired because that is what the most inspiring thing is do you do you remember when we first met oh my of course I do remember the Peter I can

[01:19:01] even tell you how we got connected if you were one to know yeah please go ahead I was actually taking a zerg flight up in as from Seattle and met Richard Gat who was happen to be on my flight and I said you know what I love this thing enough I want to invest in this and then the K Peter was on the board of X prise sorry put Board of Zer G and space adventure and then you came to Seattle to meet with me and then we we just bonded and we had I still remember went to elou to have a lunch and we talked about the xprize and said I’m going to absolutely support xprize let’s talk about something else now and it was it was amazing and we you have those moments in life where you find somebody who’s like-minded and you just resonate and we became the best of friends and co-conspirators and partners and uh it’s been an extraordinary extraordinary Journey um I have two two final questions I want to talk about as we as we wrap this up um uh the first is going to be around uh

[01:20:01] finding happiness and defining happiness in life the second I’m going to give you I’m going to give you a warning to think about in background mode which is if I were to launch a naven Jane X prize fully funded what would that be so let’s talk about happiness um what how do you define happiness and and what what is your what’s your advice uh to someone who is seeking happiness most people find think that happiness is something you drive from something else so they constantly change something or someone that’s going to make them happy what they don’t realize is happiness is an inside job if you are happy inside you you will find you can share that happiness with everyone you meet that means you could if you are happy person you could be sitting in a dark corner and still be happy and if you’re unhappy person you could be sitting in a paradise and still be unhappy so to me the happiness comes when you find the

[01:21:01] true peace the true purpose in life where every day when you wake up you wake up with joy and I truth be told Peter I get up every day at 4:00 a.m. and I jump out of the bed with joy and by the way I can verify that he does I’ve stayed at your home and you’re up way before I get up I’m up at Lally 5 or 5:30 but at 4 boom yeah and the reason is I feel that I’m doing things that I absolutely love and I you know I might use the word I think I’m doing God’s work I can just feel that point of found my purpose and I’m willing to just do what it takes to be done and that brings me happiness and I share that happiness with my you know children with wife everyone but I don’t look at them to give me happiness happiness comes from your yourself right now the part that I think is a lot of people in business find themselves in the situation where the things are not going as well and that makes them unhappy and what I realized is that your life as an

[01:22:01] entrepreneur is you know to be alive and to be alive you have to have a heartbeat and heartbeat goes like up and down and up and down and when it’s smooth you’re dead so when you find yourself seriously when you find yourself living a smooth life you’re living a life of a dead person right so don’t for don’t look for the Smooth Life you want a light that goes like this when you are at the bottom of that beat all you do is hunker down and know the next beat is going to be up and when you’re on top of that beat never get too cocky and always remember winter is coming and winter shall come I love your wisdom naen it’s extraordinary I love it love it all right uh final question we’re in uh a realm where uh we’re launching $100 million x prizes you’ve been uh extraordinary you know you and your wife a new funded the an new Jane X prise for women’s safety many years ago uh in India which was extraordinary but now it’s time for

[01:23:00] nine Jane X prise um it’s you don’t have to put up the money it’s fully funded what is it what is an area that you want the world to raise to solve there only two things I would do number one would be and by the way you can give me you can give me more than one if you want okay so one would be really increasing the health span of humanity I really believe to us there’s no reason reason why humans have to Die Young whether it’s 85 200 they’re still dying young why can’t they live to be 500,000 years or 100,000 years but the question is you don’t want to live a life that we believe old people live we don’t we look at the 95 98 years old they thinking my God they’re fragile they can barely walk they’re sick they are most of the time in you know always dealing with chronic diseases what if you can actually fix that and you die you die on the top top of the mountain because you were able to climb the mountain to begin with because that’s the life you want to live right so that’s number one number two would be

[01:24:00] really creating an interplanetary Society where we’re not going to have just internet we’re going to have a Galaxy net that really connects all of us living across not just in our own solar system but beyond our solar system not even our galaxy into a different galaxy and really connecting making the humanity a multiplanetary multi-universe society if I may say so all right well a man who does not things small and uh and a man whose wisdom I love uh naven it is a joy and a pleasure to have you in my life thank you for all that you do thank you for the inspiration thank you for your three kids uh who are amazing and making the world a better place um uh always a joy buddy thanks a lot Peter it’s always always an honor and a pleasure and I look forward to seeing you in person sometime soon see you soon bu