Every object in the room represents a business created by an entrepreneur, and these hidden industries are often much larger and more profitable than they appear.

8:56for like, you know, a year waiting trial. >> In America? >> In America, yeah. And and the DOJ kind of like impounded him, which is pretty crazy. So, this is this wild world. Did Have you ever even thought about this? And and so, >> No, but impounding is that the Is that your new term? >> [laughter] >> I don't know. I I said that. I don't know if I even said that. That was in in

9:15Fortune magazine. >> They they they should have put him in a monkey cage. >> They towed him. Yeah, exactly. So, so it's crazy like it just sort of another reminder. You know, one thing this this podcast has done a lot of for me is it rewired my brain to understand that when I look around the room, nothing is here by accident. Nothing just appeared. You know, like the the

9:33little like the lead that goes in this this mechanical pencils. There's a company that makes that. There's a guy who you'll meet on a boat somewhere whose business is just to provide these lead and he knows everything about the lead business and he goes to meet sits in meetings and they talk about 3 mm lead and 6 mm lead and everything is a business. It would not exist if there

9:53wasn't a entrepreneur behind it making it exist. And the world is full of these projects and everywhere. >> than you think. >> And it's always bigger than you think. It's always bigger than >> Can you imagine someone making $500 million by creating a breeding monkey? And when you look at the photos, it it looked like a huge shed almost, that photo that he showed me. >> It's crazy and you know, you I remember

10:16meeting people who were like the richest guy in my neighborhood growing up. It's like, "What do you do? What's your job?" And he laughed. He's like, "No, there's no job." He's like, "I sell you know, in a factory where there's like a conveyor belt or like you know, where you go through TSA and there's like a conveyor belt? He's like, "The tread of that conveyor conveyor belt. We make the

10:34tread." And I was like, "What? How? What? How did you even start that? Where does that even come from?" You know, like "I own an almond farm, a mushroom farm." I met a guy who makes the dye that makes the color blue because blue is not really a naturally occurring you know, chem substance you find. You have to like make it. He's like, "I make blue." And he's like, "Well, I love lamp, sir.

10:55I don't know what you're talking about." >> And they're just like richer than you'd ever think. Did you another thing that I've noticed is that there's companies that do things that I had no idea that they that they still did it and it potentially makes a lot of money. So, for example, I'm reading for the first time I'm reading Snowball, Warren Buffett's biography and I find you had referenced this, but

11:17I didn't quite know what you were talking about and I didn't want to ask cuz I didn't want to look stupid, but it's the soybean oil shortage and basically the idea here is that one of Warren Buffett's best trades ever was American Express because at the time there was this whole scheme where basically there was a a scam artist and he realized that he could get loans