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Jesse Itzler is an entrepreneur, author, and founder of The 100 Mile Group. Check out his new book "Living With The Monks" available at http://jesseitzler.com https://www.instagram.com/jesseitzler https://twitter.com/the100MileMan
Feel like my enemy is the clock and There's a lot of stuff. I want to do in my life and my enemy is the clock Do you feel like you live in the moment enough? Absolutely, you do I do because that would be the worry right like if you're constantly worrying about damn 20 years I'm gonna be 70 30 years I'm gonna be 80 if you keep doing that like there there are people that look ahead Too much and don't just I've talked to people that are 20 like fuck I can't believe I'm 20 and like listen motherfucker. You just turned 20 dude relax You don't think just 20 you're a baby. No, man. I'm gonna be fucking 30 in 10 years like you shut the fuck up You're 20 now. I use it as a motivator and I remember I remember when I was starting out. I was 21 years old This is a crazy story. I just got dropped from a record label I signed to a record label called delicious vinyl now As a rap record on the way she was a rapper I was a rapper Signed to delicious with tone look and young MC So my album doesn't get picked I don't get picked up for a second album and I moved to New York City I have two things on my resume kiddie pool attendant because I was a kiddie pool attendant and rapper So I'm staying on my friend's couch living on his couch with his roommate and he tells me on Monday I got to get out of the apartment So instead of going to look for a new apartment over the weekend, I go to my friend's bachelor party on the Jersey Shore I'm at the bachelor party. I'm getting a drink at the bar and I see this girl. I start chatting with her She asked me where I live. I told her actually as of Monday. I have nowhere to go She takes out a napkin. She writes her address on the napkin I'm 21 years old and she says if it's an emergency on Monday and you're stuck you can come live with me Monday comes I get kicked out of my friend's apartment. I have nowhere to go I'm like this is an emergency I take out the napkin and I live with this girl and her roommate for six months. Well turns out that her father is a big Entrepreneur business. Well, he owns a piece of the Yankees just like monster mogul. I write this song for the New York Knicks called go New York go and It becomes a big success. You remember that song? No. No. Okay. That's okay. That's okay. I'm not a sports fan It becomes a big hit and I just realized that there's an opportunity to write theme songs for all these professional sports teams But I don't have a penny to go in the studio to do the demos to shop them to the team So I need money so I go to this music guy and he says I'll give you $10,000 to go and do these songs for 10% of everything you make for the rest of your life He wants to buy me like a star the rest of your life. I'm 21 He's like the rest of the rest of your life everything you do. I will invest in you own an airplane business He owns 10% yes forever. Yes, you have to kill him then. Yes Yeah, you have to kill that guy, but I need a 10 grand so I say I'll take it So before I take it I go to this girl's father for advice this business mogul that I'm living with Mm-hmm, and I sit down I go to this guy's apartment again. I'm 21. He's got in his apartment. He's got a swimming pool Artwork like fancy fuck swimming. He's mapped out man. It's like I've never seen anything like this In Manhattan I'm just setting the stage of this conversation And I go in and I tell him the story about the 10% and he says to me I Would trade this is exactly what he said to me. I will trade everything that I have if you get out of my daughter's life Exactly I'll trade everything I have for the one thing that you have and I'm like man fucking broke What are you talking me? I go. What's that and he said youth? Because he had already gone through the journey even though he had everything He already had gone through the process. He wasn't that 20 year old that you're talking about that whatever He had gone through it. He had it all He looked he would he missed the process the journey right of being You coming up at 20 and not know like yeah here you are But it was that those were the years man right the first fight the first this like that That's what that's what makes you like so and that stuck with me man at 21 years old It's stuck with me and realize that like man. I got to enjoy the process and it's really never rubbed off on me from me Well, why didn't that guy how old was this guy at the time the old rich dude? He was let's see He must have been his 60s. Why don't you just do shit do a bunch of shit did lounging around his fucking swimming pool Yeah, he did he had an amazing he was 20. He had an amazing life. He had an amazing life So what did you wind up doing? He said the sec the second part of that conversation. He said do you will you make this work on your own? I? Said I think I can he said I didn't ask you if you can he said I said he said will you make it work I? Said I will He said then go tell the guy to fuck off and make it and it goes and go make it work And I did so how'd you get it funded that? I I somehow got I went to the Dallas Mavericks after the Knicks and Told them that I convinced them to give me a $2,500 The Knicks paid me this is the crazy part of my life But they gave me $2,500 to do the demo and then they bought the song for like $20,000 and that funded the rest of the business that I ultimately sold to a public company Wow, that's crazy, and you almost gave away 10% of your whole life that guy wanted 10% is a piece of shit What a motherfucker like that's a steal like be all up Just business just business and I know what to go to I know he's taking advantage of a 21 year old kid Who's just got some dreams and need some cash and 10 grand to him is probably nothing I call my father my father owned the plumbing supply house in Minneola, Long Island And I during this time in my thing and my father said you know I love him to death Everybody's like you know do it do what you think is best Yeah, he just did you know I didn't know what to turn to I just know what to turn to yeah Don't don't give up 10% of your life ever that is just crazy Someone asked for that, but you hear things like I mean this is similar to what they do in the music business Like how the music business treats artists they essentially sign you to these contracts and then take a piece of everything They take a piece of if you do a movie they take a piece of your live performances your merchandise sales Everything they just say look we'll we'll help you out a little bit, but you know we want you right Yeah, I mean at least you're in a contract though But there's some creepy contracts that they used to do in the old days of Hollywood that were similar to that right They just take a PCF forever. Yeah, but you know when I signed my music deal I didn't care. I was like you could take whatever you want man. Get me on MTV right of course Yeah, cuz you know well That's the whole idea the reason why these exploitation contracts work is because in the beginning You're just so desperate and what you have is what they don't have you have talent Right you have as your creative You're young and full of energy and you've got something exciting that people want to look at and so what they do is they go Oh you look we got a fucking we got a way through the door But we want 75% of the profits We want a little bit of this and and you don't get any money back until we recoup our money that we spent on executives and parking and car leases and they calculate all that shit how much the fucking building costs how much Electricity all that stuff they count. It's you've seen those I'm sure oh yeah those contracts. They're fucking I've signed them I've signed on my own way yeah But you know it's part of the process and No leverage no leverage. That's the thing they've got the leverage But now and now they don't have the leverage, but they still figure out a way to pull it off It's really weird cuz who the fuck is buying an albums now no one no one right yet These record companies are still figuring out how to cling on to you like a lamprene blood out They're still staying alive, and they're fat fingers driving their fat Mercedes Benz. They know how to do it They just figure out a way to grab people that are just just getting poppin You know and just sign it and then figure out a way to get in with these fucking streaming companies Have you paid attention to that shit a little bit yeah? That's the darkest it's even darker than the music distribution. Yeah, cuz the artists get like no money point Oh, oh, oh, oh yeah, yeah, Steven Tyler was talking about it with me It's just he was explaining it and there's a this it's the companies actually or the organization is actually called MMA What is something? What did it stand for? musicians for Some some sort of an act where they're you know trying to stop these streaming companies from ripping off these artists music Modernization act yeah It's dark. Yeah, but it's along the same lines. It's like People figuring out a way to just take something from somebody