1 00:00:00,150 --> 00:00:01,920 Adam Outland: Welcome back to the Action Catalyst. 2 00:00:02,070 --> 00:00:05,310 This is Adam Outland, and we're continuing the discussion. 3 00:00:05,315 --> 00:00:22,950 We began in episode four 15 with Matt Higgins, co-founder and c e o of private investment firm, R s E Ventures, executive Fellow at Harvard Business School Guest Shark on a b C Shark Tank and author of Burn the Boats, A Guide to Casting Away Your Safety Nets and Overcoming Your. 4 00:00:24,729 --> 00:00:34,305 there's a, a paraphrasing of a, of a quote that I'm gonna butcher right now, but it says something to the fact of, it's important for a man to be ready for when his time comes. 5 00:00:34,394 --> 00:00:34,754 Right? 6 00:00:34,815 --> 00:00:35,144 Yeah. 7 00:00:35,295 --> 00:00:41,430 And I feel that even if you hadn't had that clear picture in your path, you were constantly preparing yourself for a bigger 8 00:00:41,775 --> 00:00:42,345 Matt Higgins: play. 9 00:00:42,465 --> 00:00:42,705 Yeah. 10 00:00:42,709 --> 00:00:49,905 I real, I realized very early, like, okay, if I'm gonna have what's, and again, another question I always ask myself, what's the highest and best use of my time, energy, and resource? 11 00:00:50,440 --> 00:00:56,110 What's the highest and best use of my skills if I know how to communicate and I understand how press works is the best use of that. 12 00:00:56,110 --> 00:00:58,720 Deploying it on behalf of somebody else or on behalf of myself. 13 00:00:58,900 --> 00:00:59,230 Hmm. 14 00:00:59,290 --> 00:01:04,479 So let me put myself in a position to be somebody who needs those skills and not somebody who is rented for those skills. 15 00:01:04,629 --> 00:01:05,710 The kind of a key decision. 16 00:01:05,710 --> 00:01:09,229 And I want to tee off of something you said about about timing and life too and opportunity. 17 00:01:09,690 --> 00:01:18,690 One of the hardest decisions I ever made was taking the job, the press secretary job, because if you look at my life, uh, I'm going to law school at night, I'm trying to get through law school. 18 00:01:18,690 --> 00:01:19,860 Anybody went through law school knows. 19 00:01:19,860 --> 00:01:21,720 It's not like, it's sounded like a, a walk in the park. 20 00:01:21,725 --> 00:01:22,020 Right. 21 00:01:22,020 --> 00:01:24,190 And I'm gonna law school at night, working during the day. 22 00:01:24,810 --> 00:01:32,250 Uh, and then I get a call in April of, uh, you know, of uh, March inviting me to come back at the last year of the mayor's office. 23 00:01:32,250 --> 00:01:32,460 Right. 24 00:01:32,460 --> 00:01:35,580 And, you know, the last year of any administration, you're like a lame duck. 25 00:01:35,580 --> 00:01:38,940 So it was like, and I was stressed like, oh God, I have law school, I'm taking care of. 26 00:01:39,630 --> 00:01:42,780 Like, don't worry, it won't be like, it's the last year we'll coast. 27 00:01:42,780 --> 00:01:45,479 I'm like, I don't think you can coast like City of New York, but Okay. 28 00:01:45,810 --> 00:01:51,360 And then my mom had been deteriorating incre increasingly, but at the same time we, with the money was drained. 29 00:01:51,390 --> 00:01:52,560 We had a home health paid. 30 00:01:52,565 --> 00:01:53,850 I couldn't afford to pay her anymore. 31 00:01:54,000 --> 00:01:58,860 Uh, my mother couldn't even use the shower anymore and my mother was at that point using oxygen. 32 00:01:59,190 --> 00:02:01,560 And I remember she was saying like, you know, don't go to work. 33 00:02:01,770 --> 00:02:02,970 Like, I don't feel good. 34 00:02:03,179 --> 00:02:05,370 And I, and I would say like, I like, what do you mean? 35 00:02:05,370 --> 00:02:06,120 Like we have no money? 36 00:02:06,120 --> 00:02:07,500 I have to, I'm the press secretary of the mayor of new. 37 00:02:08,190 --> 00:02:08,880 , like I have to go. 38 00:02:09,150 --> 00:02:10,410 And so think of the juxtaposition. 39 00:02:10,410 --> 00:02:14,280 You're walking out of this house, which is a source of shame for me that nobody ever comes over. 40 00:02:14,655 --> 00:02:16,304 But this is the day, you know what I mean? 41 00:02:16,304 --> 00:02:19,424 Like, this is the day I am going to achieve my destiny. 42 00:02:19,424 --> 00:02:22,035 I'm gonna make, and I would say like everything changes from here on. 43 00:02:22,274 --> 00:02:25,364 What I really meant is like I can finally break free if I'm honest. 44 00:02:25,755 --> 00:02:30,075 And she asked me not, she asked me not to go, you know, I go to work, you do what you gotta do, you know? 45 00:02:30,075 --> 00:02:34,755 And I get a call that day at 10 o'clock, she had called an ambulance, but she had never done before. 46 00:02:34,995 --> 00:02:38,535 And I was actually relieved, you know, that she was gonna go to the hospital. 47 00:02:38,625 --> 00:02:41,234 And I remember somebody in the office like, Hey, do you want us to send somebody with you? 48 00:02:41,239 --> 00:02:42,734 I mean, you know, we can, we can help. 49 00:02:43,540 --> 00:02:47,760 . I went to the hospital after stopping off and, and she had died, you know, half an hour earlier. 50 00:02:47,970 --> 00:02:48,210 Yeah. 51 00:02:48,240 --> 00:02:52,110 For me to spent all this time in my life, and then she passes away that day. 52 00:02:52,560 --> 00:02:57,990 You know, like it just, I, and I don't know, the moral of that story is like, what was the purpose of all of this? 53 00:02:57,990 --> 00:02:59,880 Like, I was doing all this work to try to get there. 54 00:03:00,090 --> 00:03:04,915 And I guess the, the takeaway for me was that, Um, there are no happy endings guaranteed in life, right? 55 00:03:04,915 --> 00:03:06,415 I like as harsh as that is. 56 00:03:06,805 --> 00:03:12,685 The day before she had died, number one, she had committed that she would eat applesauce from now on because she was 400 pounds. 57 00:03:12,690 --> 00:03:17,425 And she was con like, I'm ready to, you know, you, we all know when, when life is being squeezed out from us. 58 00:03:17,605 --> 00:03:21,415 And two, she said, I just want to take an airplane before I die, cuz she had never taken an airplane. 59 00:03:21,625 --> 00:03:24,235 It's hard for me to, sometimes I have to like disassociate myself. 60 00:03:24,295 --> 00:03:31,525 I talk about it because we should be reminded that there are no guaranteed happy endings and that mortality. 61 00:03:32,175 --> 00:03:32,925 , it's a real thing. 62 00:03:32,925 --> 00:03:34,455 And, and use that time. 63 00:03:34,725 --> 00:03:37,815 Uh, like people, when I hear the story of my mom, they're waiting for the happy ending, like it's a movie. 64 00:03:37,815 --> 00:03:40,185 I was like, no, it ends horrifically , right? 65 00:03:40,185 --> 00:03:42,645 It's just like, it ends terribly, you know? 66 00:03:42,645 --> 00:03:42,735 And. 67 00:03:43,775 --> 00:03:44,160 , there's something 68 00:03:44,160 --> 00:03:52,920 Adam Outland: that I feel like you possess that I wanna pull out of you from all this time that is some ability or something that you do to decompress. 69 00:03:52,925 --> 00:04:03,090 I dunno if it's like a tool or a mental process or, because the amount of stress when you layer in everything would cause some people to just shut down. 70 00:04:03,270 --> 00:04:05,290 You're talking about mentally. 71 00:04:05,825 --> 00:04:16,115 Exhaustion from law school to press secretary to one of the most intense situations that city's ever encountered with, you know, the passing of your mom and the health issues prior to that. 72 00:04:16,445 --> 00:04:21,785 How do you do that then and, and now, like how do you deal with such high extreme amounts of stress and 73 00:04:21,785 --> 00:04:22,385 Matt Higgins: pressure? 74 00:04:22,775 --> 00:04:23,675 It's a great question. 75 00:04:23,765 --> 00:04:26,915 I don't have perfectly great coping mechanisms. 76 00:04:27,405 --> 00:04:27,565 Honestly. 77 00:04:27,755 --> 00:04:29,555 I know what brings me joy. 78 00:04:29,705 --> 00:04:33,875 I marvel at human capacity and I love when I have interactions with somebody. 79 00:04:34,755 --> 00:04:38,685 Is trying to break through, and I could change the trajectory of their life by holding up a mirror. 80 00:04:39,015 --> 00:04:39,465 Hmm. 81 00:04:39,735 --> 00:04:43,845 That's a convoluted thought, but that does make me almost manic. 82 00:04:43,845 --> 00:04:44,985 Like, this is amazing. 83 00:04:44,990 --> 00:04:52,395 Like I, I was able to use my story to inspire you, and you asked me for advice and I was able to distill what's going on in your mind, and we made progress, right? 84 00:04:52,395 --> 00:04:53,505 So that, that, that excites me. 85 00:04:53,505 --> 00:04:56,745 And the reason why I'm pulling that out is if I don't have that in a given. 86 00:04:57,465 --> 00:04:59,325 The stress starts to really get to me. 87 00:04:59,625 --> 00:04:59,685 Yeah. 88 00:04:59,685 --> 00:05:04,335 If, like, if my day is full of, you know, nonsense, small talk, I end up hiding in the bathroom. 89 00:05:04,335 --> 00:05:07,245 You know, like really, like, I'm, I'm, I'm not actually an extrovert. 90 00:05:07,245 --> 00:05:08,055 I'm very introverted. 91 00:05:08,325 --> 00:05:14,805 And so, uh, the way I decompress is to make sure it all matters by having these moments of, of intervention with other people. 92 00:05:14,985 --> 00:05:22,770 Cuz if I've had a lifer of stress and constantly breaking, And the payoff is that I can model what it looks like to somebody else, right? 93 00:05:23,010 --> 00:05:24,420 What I love is that I have authority. 94 00:05:24,630 --> 00:05:30,840 That's why I always start with the g e d because what happens is when you're me and you're, you know, look, I'm, I'm white male in my late forties. 95 00:05:30,840 --> 00:05:32,250 You can make all sorts of assumptions about me. 96 00:05:32,250 --> 00:05:37,680 Like, I don't wanna be denied my origin story because then I lose the opportunity to inspire somebody else who's in the same spot, right? 97 00:05:37,680 --> 00:05:38,790 So I don't wanna be typecast. 98 00:05:39,210 --> 00:05:39,990 And so, as a. 99 00:05:40,885 --> 00:05:42,505 Because I put in the work of the stress. 100 00:05:42,505 --> 00:05:44,275 If I share it, I can. 101 00:05:44,305 --> 00:05:47,905 I have authority and then I have, and then I can make progress faster. 102 00:05:47,905 --> 00:05:48,595 Does that make sense? 103 00:05:48,925 --> 00:05:50,605 Somebody's not rejecting Well, you don't know. 104 00:05:50,610 --> 00:05:51,925 It's like, what Don't I know. 105 00:05:51,925 --> 00:05:56,755 I just told you that I grew up on government cheese and my mom died after 10 years of agony. 106 00:05:57,075 --> 00:05:58,275 Do I have authority now? 107 00:05:58,455 --> 00:05:58,724 You know? 108 00:05:58,724 --> 00:06:00,044 And then I ended up on Shark Tank. 109 00:06:00,044 --> 00:06:01,065 Will you listen to me now? 110 00:06:01,484 --> 00:06:08,055 And so a lot of the things I've done, if I'm being perfectly honest, were to accumulate authority so that I could do what I really wanna do. 111 00:06:08,354 --> 00:06:08,414 Yeah. 112 00:06:08,414 --> 00:06:14,745 Which is share the lessons I learned when I was 16, that the highest and best use of anybody's life is to ameliorate suffering. 113 00:06:14,985 --> 00:06:15,255 Right. 114 00:06:15,255 --> 00:06:19,424 Like if somebody had like reached out when I was a kid and said like, can I help your mom? 115 00:06:19,635 --> 00:06:20,625 She wouldn't have died. 116 00:06:20,625 --> 00:06:22,335 My mother didn't die cuz she needed to die. 117 00:06:22,335 --> 00:06:24,375 She died because that's how society. 118 00:06:25,370 --> 00:06:25,575 Yeah. 119 00:06:25,784 --> 00:06:27,015 You know, that's the real reality. 120 00:06:27,015 --> 00:06:31,185 So what long way of saying, I guess I don't have decompression mechanisms. 121 00:06:31,275 --> 00:06:35,955 I have things that that excite me and, and sustain me through the pressure that this 122 00:06:35,955 --> 00:06:37,544 Adam Outland: is where, this is the outcome 123 00:06:37,575 --> 00:06:38,205 Matt Higgins: it, right? 124 00:06:38,325 --> 00:06:38,594 Yeah. 125 00:06:38,599 --> 00:06:40,515 I mean like it's probably less well adjusted. 126 00:06:40,515 --> 00:06:42,284 My wife is like the source of everything for me. 127 00:06:42,284 --> 00:06:42,705 Instability. 128 00:06:42,705 --> 00:06:45,555 I married the most amazing person, so she is truly my partner and everything. 129 00:06:45,555 --> 00:06:47,414 She's brilliant, but she's also very well regulat. 130 00:06:48,205 --> 00:06:51,055 And so, so I draw strength from that rock. 131 00:06:51,115 --> 00:06:52,945 Probably the single greatest decision I've ever made. 132 00:06:53,215 --> 00:06:59,695 But like, all kidding aside, everyone should have a partner in the Fox, so helps them get through and she is my rock and that does help me, you know, decompress. 133 00:06:59,845 --> 00:07:00,985 Lesson number four, Mary. 134 00:07:00,985 --> 00:07:02,305 Adam Outland: Well, I like it, you know, 135 00:07:02,845 --> 00:07:03,295 . Matt Higgins: Exactly. 136 00:07:03,295 --> 00:07:07,395 It's so, by the way, lesson number one, number two, and number three, . Right, exactly. 137 00:07:07,395 --> 00:07:14,485 Like I, you know, I don't know if you meet, I meet people, anybody out there listening, I always look for these little signals when I'm doing a deal because it important, it's important who you partnered with. 138 00:07:15,065 --> 00:07:20,165 And when I see these little proxies for contempt and resentment, when a couple is together, I'm like, oh, that's not good. 139 00:07:20,165 --> 00:07:21,275 Why are you trying to cut them down? 140 00:07:21,605 --> 00:07:27,605 Or when somebody says to me like, oh, you know, I really like, uh, him because like, you know, they put me in my place. 141 00:07:27,605 --> 00:07:31,505 You know, when my ego gets too big, I'm like, are you, did you go shopping for somebody to put you in your pla? 142 00:07:31,510 --> 00:07:34,385 I don't know about you, but I'm trying to overcome the imposter syndrome. 143 00:07:34,625 --> 00:07:35,825 I guess you must be an egomaniac. 144 00:07:36,495 --> 00:07:40,035 You know, and they're like, well, I'm not, but like, you know, I have these like, grandiose thoughts. 145 00:07:40,035 --> 00:07:43,035 I'm like, , like, like why are you what? 146 00:07:43,035 --> 00:07:43,305 You know? 147 00:07:43,305 --> 00:07:45,435 And then, and then you realize, I, I get this epiphany. 148 00:07:45,435 --> 00:07:48,375 What I kept hearing people say this word in these questionable relationships. 149 00:07:48,375 --> 00:07:50,625 Like, well, I like, I, you know, they helped me keep grounded. 150 00:07:50,625 --> 00:07:53,025 I'm like, God, like grounded is for planes. 151 00:07:53,030 --> 00:07:54,105 Like, that's not a good word. 152 00:07:54,595 --> 00:07:55,675 You know what I, you know, anyway. 153 00:07:55,680 --> 00:07:55,755 Yeah. 154 00:07:56,185 --> 00:08:01,555 My point being lessons number one, two, and three people out there listening merry Well, you know, like 155 00:08:03,145 --> 00:08:14,155 Adam Outland: Yeah, and, and I like what you just said, that how you see other people interacting with their committed partner tunes you in to maybe some underlying behavior that you want to either invest in or you don't wanna invest in. 156 00:08:14,155 --> 00:08:20,356 I think that's a, when you read some literature about Andrew Carnegie and some of the old heavyweights in business, and they actually would. 157 00:08:21,095 --> 00:08:26,105 Spouses out on dates, uh, with their, with their couple they would take out so they could see the interaction 158 00:08:26,105 --> 00:08:26,705 Matt Higgins: of the family. 159 00:08:26,705 --> 00:08:28,175 And I, I do it all the time. 160 00:08:28,175 --> 00:08:33,784 You know, it's funny in private equity, well, obviously everyone's heard about, you know, s B F what happened with ftx, right? 161 00:08:33,784 --> 00:08:39,395 And, and, and the unspectacular, yet unsophisticated fraud that was allegedly per perpetuated. 162 00:08:39,695 --> 00:08:42,305 But what I find most interesting about that, it's a proxy. 163 00:08:42,679 --> 00:08:58,699 Private equity and, and venture that here's a guy who could basically run his business on Excel, you know, and refuse any sort of oversight and accountability and whatnot like, but what that triggered in me is how some of the worst deals I've ever done are when I defer to the judgment of supposedly a sophisticated, massive firm. 164 00:08:59,000 --> 00:08:59,300 You know? 165 00:08:59,305 --> 00:09:03,589 And then you see all this motion, all these experts, all this diligence. 166 00:09:04,280 --> 00:09:06,025 and then I'd meet the founder after writing the check. 167 00:09:06,025 --> 00:09:07,135 I'm like, he has no color stays. 168 00:09:07,135 --> 00:09:08,035 It's like shirts, a skew. 169 00:09:08,035 --> 00:09:08,785 Looks like he's outta his mind. 170 00:09:08,815 --> 00:09:11,095 Anybody notice he's not in a good place? 171 00:09:11,095 --> 00:09:15,715 Like I always say, there's a great word phrase in Italian, but I won't mess it up by doing it in Italian, doing it in English. 172 00:09:15,715 --> 00:09:16,885 The phish rots from the head. 173 00:09:17,065 --> 00:09:20,245 And so you always wanna understand what's going on in somebody's mind. 174 00:09:20,395 --> 00:09:22,165 What are the choices they made around them? 175 00:09:22,525 --> 00:09:24,025 What's their dynamic with their partner? 176 00:09:24,175 --> 00:09:29,065 Not because you want to judge them for it, because you want to know the areas that you need to unlock and, and get through. 177 00:09:29,395 --> 00:09:36,990 And so a lot of times when you see somebody with a, a partner, That the dynamic just seems to offer, there's an under undercurrent of resentment. 178 00:09:37,350 --> 00:09:38,790 It's one of two reasons. 179 00:09:38,790 --> 00:09:47,340 It's it's, or many reasons, but a couple that kind of rise to the top that the person didn't believe they were good enough at, at a moment in time, right, and or they didn't believe there was better out there. 180 00:09:47,400 --> 00:09:48,300 So they're sort of settling. 181 00:09:48,689 --> 00:09:55,770 So I just think a lot, a lot can be said, but the reason why I care the most is because that's gonna be an extra layer of stress that I'm gonna have to manage if there's a partner dynamic. 182 00:09:56,445 --> 00:09:57,495 Yeah, so good 183 00:09:57,585 --> 00:09:59,085 Adam Outland: for our listenership. 184 00:09:59,115 --> 00:10:07,725 What are some key qualities to expand on what you just said, that you find to be some of the most important attributes to what you look for in someone 185 00:10:07,725 --> 00:10:08,605 Matt Higgins: who's building something? 186 00:10:09,180 --> 00:10:11,310 Let's talk about it from the individual's perspective. 187 00:10:11,310 --> 00:10:17,850 Who's writing the check or backing the business or deciding whether to get involved and from the perspective of evaluating the person who's running the business. 188 00:10:17,850 --> 00:10:18,000 Right? 189 00:10:18,005 --> 00:10:28,630 So from your perspective, I find that people are so afraid of the, the, the idea that they just had or the, you know, or the, or the idea they just stumbled upon that somebody else had. 190 00:10:29,190 --> 00:10:33,450 Is going to be somehow torn apart, that they'll never have a better one. 191 00:10:33,720 --> 00:10:37,620 And so people are, are, talk themselves into it as opposed to scrutinizing, right? 192 00:10:37,620 --> 00:10:42,000 Like it's that spontaneous insight at two in the morning, like, I got a knife for an idea for a business. 193 00:10:42,420 --> 00:10:53,520 And you don't wanna one talk yourself out of it, but two, you don't want to ask yourself the following question, if I pursue this at what cost three years down the road, what, what better thing could I have? 194 00:10:54,275 --> 00:10:58,985 In lieu of doing this, right, and so I spend a lot of energy on opportunity cost. 195 00:10:59,045 --> 00:11:05,785 I'm always pulling forward opportunity, cost, and always assuming I can do the impossible so that I can hold up future met. 196 00:11:06,270 --> 00:11:12,480 Against this Matt, that's gonna have to spend the next three to five years working on this project, business, whatever. 197 00:11:12,480 --> 00:11:21,090 So I do a lot of coaching when somebody tells me they have an idea and you, you've experienced this and you have to deliver the bad news, like this is just not worth your time. 198 00:11:21,150 --> 00:11:26,645 Or you know, more specifically, What you have come up with is a feature, not a, not a business, right? 199 00:11:27,005 --> 00:11:30,305 And whatever the bad news you have to deliver to somebody, that they're on the wrong path. 200 00:11:30,485 --> 00:11:39,905 I always say when I construct when things go wrong or people are unhappy for three, four years down the road, it's because they failed to ask themselves the the right question. 201 00:11:40,145 --> 00:11:41,555 Not that they went down the wrong path. 202 00:11:41,584 --> 00:11:45,755 The question is just because I can do something doesn't mean I should do something right? 203 00:11:45,935 --> 00:11:50,485 Just because I had a good idea at two in the morning doesn't mean it's the best idea and ideas are. 204 00:11:50,955 --> 00:11:53,775 In real estate, there's always a better house on the corner when you lose that house. 205 00:11:53,775 --> 00:11:54,945 Like the same thing with ideas. 206 00:11:54,945 --> 00:12:07,035 So, so I think from, from a, from an investor's standpoint, ask yourself the critical question like about opportunity costs in terms of evaluating who to back, and it, it really is always about people. 207 00:12:07,035 --> 00:12:13,995 Again, cliche, but cliches exist for a reason, like, So I spend a lot of time trying to figure out what makes the person tick and do they have what it takes. 208 00:12:14,085 --> 00:12:20,355 So if I was to boil it down to one thing that I'm always looking for, aside from intellect, those are table stakes. 209 00:12:20,415 --> 00:12:21,735 Fried from general competency. 210 00:12:22,140 --> 00:12:23,190 It's self-awareness. 211 00:12:23,670 --> 00:12:28,410 I think self-awareness is the single greatest arbitrage entirely within someone's control. 212 00:12:28,410 --> 00:12:30,420 Like we spend so much time looking for a hack. 213 00:12:30,570 --> 00:12:33,210 We go to Barnes and Noble and we look at business books. 214 00:12:33,215 --> 00:12:35,250 My book, we listen to podcasts. 215 00:12:35,370 --> 00:12:39,630 We spend so much, we spend more hours now than we ever have before seeking out. 216 00:12:39,915 --> 00:12:43,755 Expertise, all in attempt to outsource our instincts and judgment to another. 217 00:12:43,795 --> 00:12:44,275 Mm-hmm. 218 00:12:44,354 --> 00:12:46,035 , it's all the same underlying exercise, right? 219 00:12:46,035 --> 00:12:55,785 Let me outsource my judgment to Matt at the bookstore or to a podcast as opposed to saying, well, let me begin by seeing what I can unlock myself and that journey of unlocking. 220 00:12:56,030 --> 00:12:58,400 Where the arbitrary arbitrar is self-awareness. 221 00:12:58,640 --> 00:13:00,260 So how do I spot self-awareness? 222 00:13:00,500 --> 00:13:04,640 I look for signals tells for a blend of confidence and humility. 223 00:13:05,060 --> 00:13:16,430 Confidence in humility, while they may seem in opposition, are actually inextricably linked because you have to have the confidence to look within and, and face the reality that you're wrong and you have to have the humility to, to acknowledge it publicly. 224 00:13:17,725 --> 00:13:26,335 That's where the course corrections will be made when those things work together, and I can generally predict the outcome of A C E O by the amount of time it takes for them to implement. 225 00:13:26,699 --> 00:13:29,670 A decision that is objectively inevitable. 226 00:13:30,000 --> 00:13:34,709 In other words, you're so screwed and if you don't change product lines, you are gonna fail. 227 00:13:35,010 --> 00:13:41,790 And I, and I find a lot of times people are so afraid to deal with that reality where what they don't realize is the universe gave all of us. 228 00:13:42,030 --> 00:13:46,829 Cuz I do think the universe is benevolent, gave all of us the capacity to iterate and pivot before it's too late. 229 00:13:47,069 --> 00:13:54,750 If you ask yourself how many, when you made the dumbest decisions in your life, how many second chances did the universe present to you before you made that stupid decision? 230 00:13:55,330 --> 00:13:56,680 Like you married the wrong person. 231 00:13:56,680 --> 00:13:59,830 You're like, you kind of knew, but like, and then you broke up seven times. 232 00:14:00,160 --> 00:14:00,970 You know what I mean? 233 00:14:00,975 --> 00:14:01,450 Like yeah. 234 00:14:01,450 --> 00:14:02,590 You have a crappy boss. 235 00:14:02,680 --> 00:14:04,300 You know, they treat you like not, you know what I mean? 236 00:14:04,300 --> 00:14:08,980 Like, you know, self-awareness, confidence, humility will mean that you'll take one of those opportunities sooner out later. 237 00:14:09,250 --> 00:14:09,580 Mm-hmm. 238 00:14:09,700 --> 00:14:10,210 Adam Outland: That's good. 239 00:14:10,240 --> 00:14:18,250 Yeah, and I could even extend on that, that going with your gut is something a lot of managers and leaders sometimes fail to do because we often have to coach them on. 240 00:14:18,670 --> 00:14:29,860 When it's time to let someone go, cuz they're so emotionally tied to someone they know in their gut it's not a right fit, but they'll wait six months to a year to to, to actually pull the trigger because the, maybe the emotional attachment to that person. 241 00:14:29,860 --> 00:14:32,140 So there's so many examples I think of what you just shared. 242 00:14:32,199 --> 00:14:33,730 Matt Higgins: Well, well, what to say with what you said. 243 00:14:33,730 --> 00:14:37,790 It's like, I, I think the, the letting somebody go is an emotional decision full of friction. 244 00:14:38,310 --> 00:14:46,770 We as leaders and as people only have a finite capacity to make hard emotional decisions, they are more draining than other kinds of decisions, right? 245 00:14:46,770 --> 00:14:51,810 So what I, what, when I find this is convoluted, so bear with me, but I really feel so passionate about it. 246 00:14:52,215 --> 00:15:04,605 When somebody's taking on water and they're going through duress, um, particularly in a divorce or, um, bereavement, you know, or depression, your capacity to make hard emotional decisions is severely limited. 247 00:15:04,965 --> 00:15:07,575 And so you can't, you don't wanna face conflict like that. 248 00:15:07,575 --> 00:15:17,475 You just, cuz you're dealing with so much emotional leakage, which is why if you don't create space for your managers or your people to be vulnerable about the incoming, the water they're taking. 249 00:15:18,075 --> 00:15:21,945 They're going to hide that and make really bad decisions to cover it up. 250 00:15:22,095 --> 00:15:25,605 They're gonna rationalize, I need to keep Bill because Bill is a real producer. 251 00:15:25,605 --> 00:15:26,385 It's like, no, no. 252 00:15:26,390 --> 00:15:45,615 Bill is tanking the company when the reality is you don't wanna make it because you're, you're so bogged down with the emo emotional weight, so, Again, so convoluted, and I don't know how you'd put this even in a manual, but I know it to be true, how bad the quality of your decisions were when you were taking on water and how much you wish to avoid emotional conflict because you were already in pain. 253 00:15:45,825 --> 00:15:49,605 So when I, I always think back when I was going through divorce, I made some of the worst decisions I've ever made. 254 00:15:50,204 --> 00:15:53,400 and, but I also was like, there's no room here for this pain. 255 00:15:53,670 --> 00:15:58,260 Like if I had just told everyone I, somebody died in my family, everybody would be consoling me. 256 00:15:58,620 --> 00:16:01,079 But when it comes to that, it's like, uh, nobody cares. 257 00:16:01,140 --> 00:16:02,849 This is the worst thing that I've ever gone through. 258 00:16:03,239 --> 00:16:06,479 Everybody was nice when I had cancer too, and I was like, everybody's really nice when I had cancer. 259 00:16:06,484 --> 00:16:08,835 But with divorce, it's like, No big deal. 260 00:16:08,955 --> 00:16:18,194 And so I learned a lot about myself, about how prior to that I, I didn't have a lot of room for empathy around things that were not objectively cataclysmic. 261 00:16:18,235 --> 00:16:18,355 Mm-hmm. 262 00:16:18,435 --> 00:16:20,435 that I, you know what, but otherwise get over it. 263 00:16:20,535 --> 00:16:24,075 And that's because when I had cancer, I wanted to show everybody. 264 00:16:24,075 --> 00:16:25,595 I was so tough cuz I was so insecure. 265 00:16:26,280 --> 00:16:29,670 I went, I went to work the next day after getting my, you know, testicle removed. 266 00:16:29,760 --> 00:16:32,250 Went to work with a bag of ice and I was like, check me out. 267 00:16:32,490 --> 00:16:33,600 I had a dog tag. 268 00:16:33,750 --> 00:16:40,950 Uh, I said Half the balls twice the man, sorry, many close your ears, children, you know, any, but like all in attempt to show that I was so tough. 269 00:16:41,400 --> 00:16:46,620 And, uh, that's the last thing a manager should do because then people start modeling that behavior and then they hide their. 270 00:16:47,295 --> 00:16:47,625 Yeah. 271 00:16:47,655 --> 00:16:48,285 And packing 272 00:16:48,285 --> 00:16:48,915 Adam Outland: the emotions. 273 00:16:48,915 --> 00:16:49,185 Yeah. 274 00:16:49,185 --> 00:17:04,665 I such a good lesson in that you, you've been so vulnerable about the, the learning paths that you've experienced and I think, you know, listeners really appreciate that cuz so often we look at our models in life, and this is a, a meta example of what you just said, and by listening to a podcast we hear all the perfection. 275 00:17:05,300 --> 00:17:11,389 And we don't get the, the procedure they had to go through and the peeling back the onion and the heartache and the mistakes. 276 00:17:11,389 --> 00:17:18,409 And so just even getting a, a gleam at some of your own personal lessons that you've been through in your journey, I think makes you human to a lot of people. 277 00:17:18,409 --> 00:17:21,770 It also gives people hope they can have the success and, and build something 278 00:17:21,774 --> 00:17:22,159 Matt Higgins: similar. 279 00:17:22,410 --> 00:17:27,600 No, I appreciate you saying that cuz I, I do think we, we're now in a world where people embrace vulnerability. 280 00:17:27,660 --> 00:17:30,030 Everyone knows that you now you need to have a vulnerability. 281 00:17:30,120 --> 00:17:31,350 Like you need to have struggled. 282 00:17:31,350 --> 00:17:32,700 Have struggled and overcame it. 283 00:17:32,970 --> 00:17:38,790 What I think is inauthentic about the universe still and what we see on social media is that everything has an arc. 284 00:17:39,060 --> 00:17:44,910 I was doing great and then I stumbled and then I was humbled and then I rose again and now I'm still here. 285 00:17:45,210 --> 00:17:47,220 Whereas that's not how life is. 286 00:17:47,220 --> 00:17:51,390 Like we all regress to regress as human and so I'm always trying to. 287 00:17:52,815 --> 00:17:53,715 The best I can. 288 00:17:53,955 --> 00:17:56,955 The hu The reality of it, which does ring true. 289 00:17:56,985 --> 00:18:00,375 I mean, I, I I hope people hearing this be like, oh, I can relate to that. 290 00:18:00,380 --> 00:18:00,865 Mm-hmm. 291 00:18:00,945 --> 00:18:08,595 like, and so I don't, I don't like the way the, we manifest on social as if people are now a finished product. 292 00:18:08,600 --> 00:18:10,875 Cuz I think that actually hurts people because It does, it does. 293 00:18:10,935 --> 00:18:18,555 They can't recognize themselves in this because you know that our lives aren't tiny little narrative arcs where we stumbled and we came back and now we're, now we're good again. 294 00:18:18,795 --> 00:18:21,865 We are, our lives are about regression and progress. 295 00:18:22,335 --> 00:18:24,465 In constant seesaw with each other. 296 00:18:24,795 --> 00:18:28,225 And so I work really hard to asterisk the outta my life. 297 00:18:28,865 --> 00:18:30,185 like, you know what I mean? 298 00:18:30,185 --> 00:18:31,935 Like other people try to get rid of the Astor. 299 00:18:31,935 --> 00:18:35,445 I'm trying to put them in because I don't want to do disservice to anybody listening. 300 00:18:35,775 --> 00:18:36,105 Yeah. 301 00:18:36,255 --> 00:18:37,695 Feeling like, think about Shark Tank. 302 00:18:37,695 --> 00:18:40,335 I talk a lot about imposter syndrome on Shark Tank instead of Shark Tank. 303 00:18:40,340 --> 00:18:48,045 And the reason why I feel it's so important, if you watch my first episode, people would objectively say I was very good at it, and the other sharks said, you were great at it. 304 00:18:48,050 --> 00:18:48,255 Right? 305 00:18:48,850 --> 00:18:52,570 Well, if I let the story lie there, then I haven't made a gift of my appearance. 306 00:18:52,840 --> 00:18:56,710 The bigger gift is to say I was shaking like a rabbit . You know what I mean? 307 00:18:57,010 --> 00:18:58,330 And I felt like a kid from Queens. 308 00:18:58,990 --> 00:18:59,470 Adam Outland: Yeah. 309 00:18:59,560 --> 00:19:00,430 What a big thing. 310 00:19:00,850 --> 00:19:02,110 Um, this has been excellent. 311 00:19:02,200 --> 00:19:03,520 In, in lightning round. 312 00:19:03,524 --> 00:19:04,899 These are real quick responses. 313 00:19:04,899 --> 00:19:05,139 Sure. 314 00:19:05,290 --> 00:19:08,290 Tools, apps that you've used recently. 315 00:19:08,470 --> 00:19:09,040 Anything that you 316 00:19:09,240 --> 00:19:09,879 Matt Higgins: feel like has been. 317 00:19:10,725 --> 00:19:15,735 I really, really believe in the power of, of contemplating mortality multiple times a day. 318 00:19:15,975 --> 00:19:18,975 So I have an app that reminds me I'm gonna die five times a day. 319 00:19:19,155 --> 00:19:20,055 Five times a day. 320 00:19:20,385 --> 00:19:40,115 A quote will pop up my phone in new eloquent ways from different philosophers telling me you're about you're gonna die . And the re the, the reason why I hopped into it when I had testicular cancer is like, When, when you, when we're afraid of dying more than we are, anything, I think it's a source of a lot of our grief, but actually, when you contemplate mortality, what it does, it zooms you into the present. 321 00:19:40,475 --> 00:19:42,665 And in the present you have very little pain. 322 00:19:43,085 --> 00:19:43,175 Hmm. 323 00:19:43,235 --> 00:19:46,115 All the things that you anticipate going wrong don't exist in the present. 324 00:19:46,295 --> 00:19:49,775 And then you realize the truth of life is that it is the only thing you're guaranteed. 325 00:19:49,775 --> 00:19:51,155 But we don't connect with that thought. 326 00:19:51,155 --> 00:19:53,765 We say it in a, in a way that's, you know, that we don't really. 327 00:19:54,465 --> 00:19:56,735 And so I have this app on my phone that I use constantly. 328 00:19:56,740 --> 00:19:58,035 It is called We Croak. 329 00:19:58,155 --> 00:19:58,725 We Croak. 330 00:19:58,785 --> 00:19:59,205 Okay. 331 00:19:59,535 --> 00:20:00,825 . I'm actually gonna look into that. 332 00:20:00,895 --> 00:20:02,215 Cause we talk about that. 333 00:20:02,215 --> 00:20:02,595 I really do. 334 00:20:02,775 --> 00:20:04,995 I wonder if the people out there are on this app, like who's that guy? 335 00:20:04,995 --> 00:20:06,045 Keeps talking about our app. 336 00:20:06,045 --> 00:20:07,275 But yeah, that's great. 337 00:20:07,335 --> 00:20:07,754 Uh, and 338 00:20:07,754 --> 00:20:10,455 Adam Outland: then either a book mentor, someone that you 339 00:20:10,460 --> 00:20:10,855 Matt Higgins: follow. 340 00:20:11,669 --> 00:20:12,629 Oh, that, okay. 341 00:20:12,899 --> 00:20:15,030 I'm a huge Emerson fan, right? 342 00:20:15,034 --> 00:20:15,230 Mm-hmm. 343 00:20:15,230 --> 00:20:21,780 I mean, like a lot of my life has lived around Ralph Walder, Emerson, and, and I probably read Self-Reliance every week. 344 00:20:22,050 --> 00:20:27,389 I think it's one of the greatest pieces of writing ever written, and it touches upon themes we talked about in this podcast. 345 00:20:27,389 --> 00:20:38,700 In fact, I think I just basically plagiarized him with my, my thoughts, but basically this idea that, and everyone can relate to this, when you have a spontaneous insight that you feel like you're right. 346 00:20:39,270 --> 00:20:48,270 But you reject it because it's not being validated by the by someone else, and you wait for it to be validated, and now you're forced to take your own idea from another. 347 00:20:48,660 --> 00:20:59,070 And the essay talks about how demoralizing that idea is, which is why, and I coined my own phrase for this, but that OPP opportunity arises before the tipping point of evidence. 348 00:20:59,070 --> 00:21:01,020 And I like to think of it like lightning and thunder. 349 00:21:01,020 --> 00:21:02,580 Opportunity is the flash of lightning. 350 00:21:02,960 --> 00:21:05,300 And then there's the five second time delay before thunder. 351 00:21:05,540 --> 00:21:07,010 If you wait to operate on thunder. 352 00:21:07,010 --> 00:21:09,140 Everybody saw it, but not everybody saw the flash of light. 353 00:21:09,410 --> 00:21:12,530 So Emerson, the, those thoughts came to me as a kid. 354 00:21:12,830 --> 00:21:16,490 I first read it when I was a little boy, and that changed the course of my life. 355 00:21:16,880 --> 00:21:18,230 So self-reliance. 356 00:21:19,169 --> 00:21:19,740 Adam Outland: So good. 357 00:21:20,129 --> 00:21:21,149 Everybody listening? 358 00:21:21,210 --> 00:21:22,800 Uh, go check out the book. 359 00:21:22,980 --> 00:21:24,030 Matt Higgins: Burn the Boats. 360 00:21:24,360 --> 00:21:24,510 Yeah. 361 00:21:24,510 --> 00:21:25,800 Can I give you a minute on the book? 362 00:21:25,830 --> 00:21:26,610 Can I tell you the book? 363 00:21:26,669 --> 00:21:27,360 Yeah, please. 364 00:21:27,450 --> 00:21:28,620 So, burn the Boats. 365 00:21:28,770 --> 00:21:29,700 Why is it called that? 366 00:21:29,909 --> 00:21:36,419 Um, I have basically, uh, appropriated a term that has been used throughout military history by some very bad actors from time to time. 367 00:21:36,690 --> 00:21:40,350 But the common thread of all them, and it goes back to since the beginning of recorded. 368 00:21:41,010 --> 00:21:44,310 The phrasing sometimes slightly different about burn the boats. 369 00:21:44,429 --> 00:21:56,310 Meaning when you are in a, in a position, when you are outnumbered and your back is against the wall, the best way to to channel, um, the best of you is to eliminate your escape route and literally burn the boat. 370 00:21:56,310 --> 00:21:57,449 So it's an art of war. 371 00:21:57,915 --> 00:22:03,675 , it shows up with Caesar and uh, uh, and the ancient Israelites like, it, it it, the simple common. 372 00:22:03,675 --> 00:22:14,745 So my, my thought was, how do I take this idea of giving yourself no plan B uh, and demonstrate that science history, psychology all shows that humans perform better when they don't have a safety net. 373 00:22:15,135 --> 00:22:21,885 Humans, humans are, and that's counterintuitive, cuz when I say this, people like, well, that's easy for you to say, you know, you have money or you, I can't take risk. 374 00:22:21,885 --> 00:22:23,835 I said, I didn't say burn the boats with you. 375 00:22:24,670 --> 00:22:25,830 . Now, I didn't say blow up the bridges. 376 00:22:25,830 --> 00:22:26,910 That's not what the book is called. 377 00:22:27,360 --> 00:22:32,940 . You know what I, I said Burn the boats because what it means is to eliminate the plan B. 378 00:22:33,000 --> 00:22:35,790 And the way you do that is to first by contemplate the worst case scenario. 379 00:22:36,090 --> 00:22:37,290 So to work backwards, right? 380 00:22:37,440 --> 00:22:39,240 So that you can comfortably assume the risk. 381 00:22:39,540 --> 00:22:42,720 And so I decided, let me write a book about what does it truly take. 382 00:22:42,720 --> 00:22:49,260 So it's not Instagram posts and platitudes, like put real thinking behind how do we overcome the. 383 00:22:50,455 --> 00:22:55,860 and the external obstacles that prevent us from fully committing to plan A, because everybody listening to me right now wants to do that. 384 00:22:55,860 --> 00:22:57,270 We all want, I want to do that. 385 00:22:57,660 --> 00:23:03,180 And so I used my story only as a vessel to transmit what does it look like as one case study. 386 00:23:03,480 --> 00:23:09,780 And then I interviewed 50 different celebrities, athletes, artists, people that I have mentored or advised or touched throughout my life. 387 00:23:10,075 --> 00:23:18,385 To show their journey of transcendence because we sometimes like to think, yeah, but I can't, so I wanted to show different manifestations of you or versions of you. 388 00:23:18,595 --> 00:23:22,495 So I have billionaires from Mark Lori, um, and I have Scarlet Johansen. 389 00:23:22,495 --> 00:23:31,225 I'm a partner with her, and then I have a paraplegic gymnast from Connecticut who I'm from Canada rather, who believes her life was better after the accident happened. 390 00:23:31,720 --> 00:23:34,150 Showing how people crossed a threshold of commitment. 391 00:23:34,390 --> 00:23:38,440 And I, I, I, I believe what I did, I hope I did, because this, I feel like this is my life's work. 392 00:23:38,770 --> 00:23:48,580 I tried to create a blueprint for how do you live a life of perpetual growth where you can let go, where you can shed your shame, you can shed the things hold you back and you could fully commit to planning. 393 00:23:49,090 --> 00:23:49,330 Hmm. 394 00:23:49,510 --> 00:23:50,050 Uh, and that 395 00:23:50,080 --> 00:23:52,930 Adam Outland: kind of leads to your, your theme in life of freedom, which I love. 396 00:23:52,930 --> 00:23:53,170 So 397 00:23:53,170 --> 00:23:53,530 Matt Higgins: freedom. 398 00:23:53,530 --> 00:23:53,830 Yeah. 399 00:23:53,920 --> 00:23:56,600 When doesn't have to be your why, but you have to have a. 400 00:23:57,090 --> 00:23:58,560 Adam Outland: Thank you so much for this interview. 401 00:23:58,560 --> 00:24:00,090 Appreciate you being generous with your time. 402 00:24:00,120 --> 00:24:01,170 So this has been wonderful. 403 00:24:01,260 --> 00:24:01,800 Matt Higgins: No, thank you. 404 00:24:01,800 --> 00:24:04,050 I, I love, I love talking, I love talking about these themes. 405 00:24:04,050 --> 00:24:04,440 Take care. 406 00:24:04,440 --> 00:24:05,460 Your hair is amazing, by the way. 407 00:24:05,460 --> 00:24:08,520 I didn't get a cast compliment you on your beautiful hair, right back at you. 408 00:24:10,379 --> 00:24:10,680 Well,