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Transcript

Building an indie business in the center of venture capital. I am Alex Edmonds, also known as supremerumham on the internet. And this is the building and indie business podcast. Alright, so this is another Thursday personal episode, I'm going to be talking about my experience with messing around with the title and the content I guess of the how to create an ebook and sell it for a million dollars at this note and make a million dollars episode. I had some interesting. I had an interesting interaction with someone, somebody talking about that. Um, someone called the Ponzi scheme. Right. And of course it's not. So, yeah, I'm gonna be talking about that. Yeah. All right, so let's get into it. So, someone called it a Ponzi scheme. And I just thought it was really funny, because you know it. First of all, it's not, and the scenario, didn't call for it. Right. So, what is a Ponzi scheme, a Ponzi scheme is when you get someone to invest in your business, your company, your product, but you give them fake returns. And that gets that gets more people to invest in your fake company. So, how it works is you get one person to give you like $1,000, you get the next guy to invest, $3,000, and then you get the third guy to invest $5,000. So, you give the first guy like $2,000. You give the next guy. $3,000. And those two will get three of their friends to invest. And then you give the $5,000 guy, $7,000, and they'll think that these returns are so great that they'll get more people to invest. And those. You give those people, good returns and they'll get more people to invest. So you go from three to nine to 15, and you just keep giving them returns and of course you're spending the money that you don't give them. So, you need more people to invest so you give them fake returns and you keep spending the money on a very famous example is Bernie Madoff. That was pretty recent his was for billions of dollars. His Ponzi scheme. And the reason why I'm the, the term, or the action is called a Ponzi scheme is because one person. The first person that did this is his name was Ponzi I don't know if it was first or last name doesn't matter. Um, so the reason why selling a book to one person for a million dollars is not a Ponzi scheme is because you can't run a Ponzi scheme on one person, right. So, um, this, this interaction was on Reddit, and I'm going to read you the very beginning, I'm going to summarize, actually, the interaction. So, the guy was like this is a joke, right, and I'm like, 100%, of course, I'm just having a little fun. And then he, he, like looks at the website. And then he's like, oh, you're buying now button, it's real, you're running a Ponzi scheme. And I'm like, dude. My book is for 1750, and the joke is a million dollars right. You don't know what a Ponzi scheme is and then after that he said something and I stopped interacting with them because, because he didn't hear the episode. If he heard the episode, he would have known that I'm talking about selling the book to one person. I also said that you make a million dollars you're not making a million dollars in profit. And you might spend $900,000 trying to find this one person so you're not making a million dollars. You're, you have a million dollars in revenue huge difference right. And so I'm wondering I see someone mentioned that this is that person was a bot. It wasn't a real person they were just trying to, like, generate traffic or not generate, but like, create interactions to make people think that the account is real so when they go to post things related to whatever that person running the bot wants to promote that it'll look like real traffic, because that person has interactions and stuff like that. So, also like, dude, a million dollars and a 1750 for the book, which was the price at the time. That's, that's not that's not correlated, it's not related, right. So, Now I don't like Reddit, and on Reddit has the option to turn off comments when you post. So now I do that. So even if they're nice comments. I don't respond to them, because I don't care, I want you on my email list, and that's about it. So if you want to talk to me, email me, join the email list first and then talk to me. Specifically, peep I'm specifically talking about people on Reddit. Yeah, Reddit it's only good for traffic. When I was posting podcasting content in a weekend I would get like 300 views, if I posted on our slash podcasting, which is really good. Not a lot of email subscribers but still. Yeah, it, it's good for traffic don't interact with the people they'll suck. And this reminds me of what Mark Norman said in a video that I watched. He was saying it's really weird and comedy, how different crowds have different reactions to the same joke. So, in one in one show like the nine o'clock show, let's say, he would tell tell one joke, and it would get a lot of laughter. And they would love it. But then he tell the same joke at the 11 o'clock show, and that show would give him nothing like the people there. Right. And this is really weird because it's the same joke. Same delivery same everything but different people didn't find it funny. And this completely reminded me of that situation, because that's that's what I experienced the people I knew saw this funny. And then this random stranger didn't think it was funny. And I think the reason why the people I knew thought this was funny, is because they know selling a book for a million dollars is not reasonable like in the indie maker community, selling one item to one person for a million dollars is not, You know, it's not, it's not likely, right, there's like a point. 100000 1% chance of that happening. So this guy didn't have that context. Right. Yeah. Um, and this is really the only time I mix comedy, my comedy brain and my content creation brain. And this happens, which I don't mind. I just want, like, I was just messing around I wanted to see how people would react like with the dogs and web development episode that I did last year, not last year. In 2019, right. So, that's how that's how people reacted. Um, the people. My people, they reacted greatly and I will continue to do content like creating a pot, or a book for any book, creating an ebook and selling it for a million dollars. Um, yeah I will continue to do exaggerated stuff like that. Just because my people thought it was funny, right. Um. The day I let some idiot determine what I do on the internet is the day I stopped doing things on the internet. To be clear, this doesn't really bother me. Um, I thought it was really funny, that I had this interaction. If anything, it confused me because it's like, Why are you so adamant about this and you don't even know what you're talking about. But that's the internet for you. Am I right, um, at the very least, it's nice because he gave me something to post on Twitter and to share with people. That's really funny to me. Yeah, so that's what I have for this episode. Huh. That's right. Okay.