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Monkey to Millions | John (Session 10) - Dropping the IB Internship for a RE Dev internship & final rounds - Jun 15, 2020

Monkey to Millions

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In this session, John gives us a quick update having finished his final classes and graduated college. He has pivoted to work full time as an intern for a real estate development firm that is indicating they may want to bring him on full-time, but that hasn't stopped him from his networking efforts and he is now in final rounds at a boutique investment bank working in the hotel and gaming space.

 

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WSO Podcast (Episode 10) Transcript:

Patrick (CEO of WSO): [00:00:23] Hello and welcome. I'm Patrick Curtis, chief monkey of Wall Street Oasis. And this is Monkey to Millions, a show where you get a front row seat as I mentor young students and professionals to try and help them break into their dream jobs. In the first cohort, you'll meet four students, all preparing for intense job interviews while trying to also balance a personal life and schoolwork. The goal of this show is to shine a light on the struggles of trying to break into competitive positions with a nontraditional background and to give you a roadmap for your own success. My hope is that as you get to know these four impressive students, you are inspired to dream big. Remember, these are real people and this is their true story. Let's get to it. In this session, John gives us a quick update. Having finished his final classes in graduated college, he has pivoted to work full time as an intern for a real estate development firm that is indicating they may want to bring him on full time, but that hasn't stopped him from his networking efforts. And he is now in final rounds at a boutique investment bank working in the hotel and gaming space. Enjoy. All right, John, big update. Let's hear it. What's going on June 15th for the listeners? I think we're going to start releasing these on like a two month lag. So it'll probably be July, August, it'll be like late summer when this releases.

John: [00:01:45] Sounds good.

Patrick (CEO of WSO): [00:01:46] So we're early. We're early summer right now. You are now a college graduate?

John: [00:01:52] Yep. It doesn't feel like it, but here we are.

Patrick (CEO of WSO): [00:01:56] Graduating into the toughest time probably since the last ten years. Yeah, if not longer. So tell me a little bit about. Yeah, I know you were last time we chatted was, what, six weeks ago or so?

John: [00:02:09] Yeah, about six weeks ago.

Patrick (CEO of WSO): [00:02:11] And you had kind of. Were you wrapping up classes or you were done.

John: [00:02:16] No, I was wrapping up classes. I actually finished finals last week. Oh, yeah. The court system. Thanks.

Patrick (CEO of WSO): [00:02:23] Did you get your G keep your GPA up?

John: [00:02:25] Hopefully. Yeah. I mean I don't I haven't got my final grades, but I think I ended off with like a three, seven, five.

Patrick (CEO of WSO): [00:02:31] Great.

John: [00:02:31] So good. So, yeah, I think.

Patrick (CEO of WSO): [00:02:34] That won't hurt you anywhere. Great.

John: [00:02:36] Yeah, I know. So if I ever decide to go get my MBA, I feel like that will help.Yeah, for sure.

Patrick (CEO of WSO): [00:02:41] Tell me a little bit about. The internship. Now that's been going and it's remote. It's just a little bit weird and tough. And I remember last time we talked about advocating for yourself a little bit if you can get your hands on stuff.

John: [00:02:54] Yeah, yeah. I mean, they were good, but it just seemed really unstructured and the deal flow wasn't there. Like, big update. I'm not there anymore. Yeah, I kind of just told them thank you for everything. They gave me, like a bunch of material to study for serious exams and whatnot. But I'm sure if I ever start with another firm soon, they'll probably have a lot of resources for me as well. But I mean, I'm not sure if I also mentioned this, but like during that time I was also working part time with a real estate development firm as well.

Patrick (CEO of WSO): [00:03:27] So you were doing like 20 hours, right for them?

John: [00:03:29] Yeah, Yeah. I was basically doing 20 hours of the firm and then another like 15 to 20 with the IB.

Patrick (CEO of WSO): [00:03:38] Like, tell me, so are you now full time with the real estate development firm or what's going on there.

John: [00:03:42] Yeah. So like I'm working full time with them remotely. They announced that they're not going back to the office until 2021. So everybody's working remote. My team is working remote and basically my kind of thought process right now is continue working with them because they're paying me and 20 bucks. Yeah, it's 20 bucks an hour. And I mean, the past couple of weeks, the VP that I'm working under kind of has hinted that they want me to stay full time. It's a great firm. They're really well known and respected in Southern California. They have a lot of great properties. And then a lot of the things that they've been telling me is that they've been filling me in in a lot of like expansion projects and things that they want to do. And they have a great relationship with USC. So what do they like?

Patrick (CEO of WSO): [00:04:31] What do they do in terms of when you say real estate development, tell me a little bit about like how big is the firm? What types of projects are they doing? Like, is it all commercial type stuff or residential?

John: [00:04:40] Yeah, it's it's all yeah, it's all well, actually, they do. They have like a wide span of properties in Southern California, so they have like a hotel in Santa Barbara. They have, they own it mostly. Yeah. Yeah. It's, yeah, it's mostly retail properties. So I'm not sure if you've been to LA, but the Grove, the Americana, the Palisades Village Commons, the Calabasas, all these really upscale high retail spaces, it's owned by.

Patrick (CEO of WSO): [00:05:05] Them struggling right now because of.

John: [00:05:08] The thrilled a lot of people. Yeah, they throw out a lot of people. But I mean, it seems like they're doing okay now since a lot of tenants are opening back up and paying rent. So, yeah, I mean, they've definitely. They're definitely doing well in I mean, obviously aside from the furloughs, but this just seems good company culture and whatnot. At the same time, obviously, it's not the ideal role.

Patrick (CEO of WSO): [00:05:31] How many people how many people are in there? There are there. What are the roles? Are there defined roles? Is it like 20 people? Five people? How big it.

John: [00:05:39] Is? Yeah. So they have like 300 people. It's like a 300 person company and they furloughed half of them.

Patrick (CEO of WSO): [00:05:46] Yeah. And then. But tell me about like, you're like an intern, right?

John: [00:05:50] Yeah. So I'm so an intern. I work under the strategy VP, and he was actually brought on October of 2019. And basically his mandate is to build out the Strategy and innovations team to help with expansion and also kind of structure the data and workflow processes of the company just because it's very old fashioned. Like, I think the way the company kind of operated was like, there's something needs to be done. Ceo would kind of tell somebody to do it. They do it like there wasn't, you know, there wasn't a flow.

Patrick (CEO of WSO): [00:06:22] Of 300 people still. Wow.

John: [00:06:24] Exactly. Yeah. Yeah, exactly. So part of the past couple of weeks, I've been working on a dashboard for a data analytics project kind of to put together all the different data sets they got from marketing to I.T to operations. Put that together. But the first couple of weeks my internship, I was putting together like revenue forecasts and big like models on Excel. That was actually like my first time actually taking a lead on that. So that was actually really cool. I enjoyed that, loved it. And this week we're starting a new high impact.

Patrick (CEO of WSO): [00:06:55] Work is good.

John: [00:06:56] That's good. Yeah, it's great. And then this week we're he's having me put together another forecast for a project that they're soon to start developing.

Patrick (CEO of WSO): [00:07:05] And so are you getting down to like the to the unit level forecast and all that stuff.

John: [00:07:09] Yeah. Yeah. Like rent revenue. Yeah. Oh yeah.

Patrick (CEO of WSO): [00:07:12] I think you're going to love our new real estate modeling course when it comes out.

John: [00:07:16] Yeah. So I mean, that's been great. And honestly, like, I've kind of thought about this recently. I'll tell you a little bit about my thought process of where I'm at right now. Yeah, So I currently have I'm currently like in three interview processes pretty deep into the process. One's with an I've actually a boutique in LA. They focus on hotels, gambling and the gaming industry. They were actually a group of from B of A that got pretty much laid off in oh eight and nine, and they kind of formed their own boutique and I think they've been doing pretty well since then. I mean, they've been operating since then and.

Patrick (CEO of WSO): [00:08:01] It could be bad right now.

John: [00:08:03] Yeah, no, it was bad. I mean, I applied and actually reached out to one of the Anderson Associates back in February and they said, Oh, yeah, I was put on pause, but they reached out to me earlier last month and they resume the process. So I already had three interviews, one with an analyst, one of the associate, and then I have a Zoom call with pretty much everybody on the team. It's a team.

Patrick (CEO of WSO): [00:08:24] Here in LA.

John: [00:08:25] Yeah, El Segundo, to be specific.

Patrick (CEO of WSO): [00:08:27] Yeah. Okay, cool.

John: [00:08:29] And. Ascent in. I mean and yeah, I was Super Day this Friday or next Monday or Tuesday, so I pretty much pass all the technical portions. I think this is kind of just to get a feel of because I think they're down to one, two, three, 2 to 3 candidates. So me and maybe potentially two others, they said they're going to try to move pretty fast and pretty selective. I already sent in references from B Riley and my two and Harvey and Company and Disney, and I already sent in my work samples like a little DCF model and a presentation I put together for a previous case study. And I sent them like a report I did for one of my classes, which is I want to write a sample. So I feel pretty good about that team seems pretty good. I feel like I'll get a lot of client exposure is, I don't know. They said I'll be doing everything basically from putting together models to since.

Patrick (CEO of WSO): [00:09:22] You'd be an analyst, basically.

John: [00:09:23] Yeah. Yeah. Even handling I'm in duties just because they don't have like a secretary.

Patrick (CEO of WSO): [00:09:27] They said you'll be doing everything.

John: [00:09:29] Yeah. They said the most junior guy will be handling like booking trips and whatnot as well. So I mean I'll be doing that's like 10% of the work they said, but I'll be doing pretty much everything.

Patrick (CEO of WSO): [00:09:37] Tell me about base salary.

John: [00:09:39] So that's.

Patrick (CEO of WSO): [00:09:40] Pay their I.

John: [00:09:41] Don't know pay. They haven't mentioned that. Yeah. You don't want to like.

Patrick (CEO of WSO): [00:09:45] Yeah I know, I know that doesn't matter so much but I'm just curious if you knew do they have. Like any deal flow right now.

John: [00:09:54] Yeah. I mean, they said a lot of their deal flow right now is restructuring. And so they do restructuring. Good. Yeah, yeah, yeah. They do a lot of restructuring and capital raising right now. And then they said that their M&A deal flow has been kind of like, like a wave. It's like coming in and out. So I think most of their focus is on raising capital and restructuring.

Patrick (CEO of WSO): [00:10:18] People need money right now.

John: [00:10:20] Yeah, so that's been good and I feel pretty hopeful about that. They said it's either going to be this Friday or next Monday or Tuesday.

Patrick (CEO of WSO): [00:10:29] Okay. So coming up.

John: [00:10:32] So I'll be driving.

Patrick (CEO of WSO): [00:10:33] Feel like it's going to be more fit because it's more senior people. Yeah. Have you had interviews with the associates yet?

John: [00:10:40] I had one. First interview was an analyst. Huh.

Patrick (CEO of WSO): [00:10:43] Very technical, I assume.

John: [00:10:44] Yeah, The first two. The first two were pretty technical. And then even like the crushed it. Yeah, I mean, it was a lot of valuations. Yeah. Yeah. So pretty like, I don't want to say I don't want to say it as part of the basic. It's probably basic and intermediate. It didn't really get too advanced. Like in the workbook that you sent me. It wasn't that it didn't get that far each good. So I mean, actually the first analyst I interviewed me is from UCI and I actually reached out to him. That's when I reached out to him, like in January, February, when I first found out about the opportunity. And he's the first guy that interviewed me. So I feel like. I don't know. The technical questions could have been a lot harder, but he was like, Can I help you? Yeah, He's like, Help me out. But I mean, I felt like I knew all of them once I got to the associate that he was like kind of going a little further. And now one was pretty I mean, it was straightforward from the book. And then there was a third Zoom call with basically everybody on the team, the three partners, the one MD. I don't even know if he's like, I mean, on the thing that says he's an MD could be a VP. Yeah. And actually the analysts and associated with on there too. So I basically interviewed with everybody in the firm and I think I don't know why they want I think they said they just want me to come in and meet the team in person.

Patrick (CEO of WSO): [00:12:02] Yeah, it's better.

John: [00:12:03] Yeah. So I think it's down. Yeah. That's why I think it's down to like, yeah, a couple of people.

Patrick (CEO of WSO): [00:12:09] You should like. Are you able to find any people who used to work there?

John: [00:12:14] Yeah, the one I only found one guy that used to work there, and he just left. I think that's why they're hiring now. He just left a warden.

Patrick (CEO of WSO): [00:12:21] Can you talk to him for MBA?

John: [00:12:24] Yeah, for MBA. He just left this firm. We went to Berkeley. You went to Berkeley? I went to this firm, and now he's going to Warren. So, I mean, I'm not bad.

Patrick (CEO of WSO): [00:12:33] I could be good. Maybe he's. How. How long was he at the firm for?

John: [00:12:37] Two years. Just analyst.

Patrick (CEO of WSO): [00:12:38] So he just did. Analyst It was straight to Warden.

John: [00:12:40] Yeah, they said it was like, Yeah, I know. Yeah. Let me see if I can call him up.

Patrick (CEO of WSO): [00:12:46] Yeah, it'd be good if you could get in touch with them and talk to him.

John: [00:12:50] Yeah. No, I definitely will reach out to him today.

Patrick (CEO of WSO): [00:12:53] Because he may be like, it's a it's a sweatshop, but it's good, good experience, you know? Or he may say, Hey, their deal was done like drying up when I left. Don't go. Or like, you know, that's always hard. Or like, watch out for this guy. This guy is really good, you know?

John: [00:13:10] Yeah, I kind of got a feel from for everybody on the team after.

Patrick (CEO of WSO): [00:13:14] The one thing I worry about is there's two partners, an MD and one associate.

John: [00:13:22] One associate, one.

Patrick (CEO of WSO): [00:13:24] And one other analyst.

John: [00:13:25] Yeah. I'll shoot you.

Patrick (CEO of WSO): [00:13:27] That is probably drowning right now because, like they say, shit rolls downhill. So it's.

John: [00:13:34] You? Yeah.

Patrick (CEO of WSO): [00:13:35] Everyone's passing it down the line. If there's anything to do. I'm looking at this guy or now.

John: [00:13:39] That's the guy that's about to go to war in. And then this is the firm?

Patrick (CEO of WSO): [00:13:43] Yep. Okay.

John: [00:13:45] Yeah.

Patrick (CEO of WSO): [00:13:47] Very cool.

John: [00:13:50] Yeah. I mean, they have a pretty established.

Patrick (CEO of WSO): [00:13:54] Cool. Yeah, they do. Restructuring. This is great.

John: [00:13:59] It's pretty niche industry and focus. So I feel like if I were to start with a firm and kind of be hard to lateral out into a bigger group, I'll probably have to find a group with a similar focus.

Patrick (CEO of WSO): [00:14:11] Not necessarily. Gaming and leisure is pretty. I don't think there's anything super. It's not like Fig, right?

John: [00:14:17] Yeah.

Patrick (CEO of WSO): [00:14:18] It's like the financials are.

John: [00:14:19] Pretty broad then.

Patrick (CEO of WSO): [00:14:21] Yeah, I wouldn't worry so much about that. It's more about if you're getting deals done or not.

John: [00:14:25] Got it.

Patrick (CEO of WSO): [00:14:26] Some of the restrictions, you may learn a lot if you work in a restructuring and I.

John: [00:14:30] Yeah, well, we'll see. I'm pretty excited about this one. Obviously, if I get the offer, I'm going to take it and I'll say like, see you later to Caruso. On the other hand, the two other firms that I'm interviewing with is a valuations firm in LA.

Patrick (CEO of WSO): [00:14:44] Well, the real estate development shop, it's not offering you a full time right now.

John: [00:14:49] Not like at this moment, but I feel like in the next month, like if I really, like, push for it, like.

Patrick (CEO of WSO): [00:14:55] You could potentially.

John: [00:14:56] Get it. Yeah, I'll potentially get an offer. And honestly, the guy that I'm currently working under, he's great. He's from Bain. Morning a lot from him. And I'm also I'm also working under another VP but not so much. It's a VP of Finance. So kind of like a dual role right now.

Patrick (CEO of WSO): [00:15:14] Yeah, it sounds like the real estate development. You're doing a lot of like analytics and which is good, which is good, good skills to have, but it's not like the bread and butter finance.

John: [00:15:24] Yeah, exactly. Exactly. It's going to my that's what I'm worried about like my knowledge and finance or like my really like skills won't be as refined if I were to go straight to like a finance, like. Like, focused.

Patrick (CEO of WSO): [00:15:38] Yeah. Yeah. I think once we also. Yeah. Tell me how. Tell me about your training. So you've been working full time for this real estate shop. Have you had a lot of time to go through the courses?

John: [00:15:50] I've been going through the Excel course primarily just didn't want to jump through, and I've just been kind of putting in, like, a couple of hours on the weekends, like Saturday mornings.

Patrick (CEO of WSO): [00:16:00] You're still on it, like or like you're close.

John: [00:16:03] Yeah. Yeah, I haven't. I haven't been able to work on it this past weekend just because of graduations and everything going on or the past week. I actually past two weekends, so I'm studying for finals. And then this past weekend was all graduations. Mine, my graduation, my sister's graduation. My girlfriend's graduation. Nice. So, yeah, a lot of all the. Yeah, all the celebrations and things I needed to do out of the way. Now. Now it's like strictly business.

Patrick (CEO of WSO): [00:16:31] Cool. Yeah. Are you going to? Yeah, because the Excel course, it would be good. I think it'd be good for you. Especially financial statement modeling. The elbow. The elbow? You don't. It's a little more advanced than I think what you need to have right now. But if you drill on the Excel definition of modeling and really, really master that stuff, like you're able to build the three and model from scratch doing the capstone exercise at the end, I feel like you're going to build a lot of confidence around that, especially Excel if you really get remind me either one with the Mac or you have a PC.

John: [00:17:05] Yeah, the Mac and I just.

Patrick (CEO of WSO): [00:17:06] Got You got parallel.

John: [00:17:08] Yeah, parallel is on a keyboard. So here I am just using this.

Patrick (CEO of WSO): [00:17:12] Hi. There we go. There you go.

John: [00:17:16] Exactly. So I got parallels, and I've been.

Patrick (CEO of WSO): [00:17:17] You'll be happy you did that. You'll be really happy. You got parallels and have a PC keyboard When, if, if and when you get this offer from this bank.

John: [00:17:25] Yeah, Yeah. Just slowly been working on that. I don't know how it's going to work though. Like with the bank. I did get the offer like everybody's working remote right now and I don't know, like how if I'm going to get like a set up or anything, they said everybody gets surface books and then you're able to talk that into the monitors at the office. But nobody's nobody's at the office. So I think I'm going to have to come out and set up at home.

Patrick (CEO of WSO): [00:17:50] Yeah, well, I mean, if you have a surface, but you can just connect it to a. Um, to external monitor.

John: [00:17:56] Yeah. Yeah. That shouldn't be too bad then.

Patrick (CEO of WSO): [00:17:59] Wide I have an Asus monster monitor, which is really nice.

John: [00:18:05] Okay.

Patrick (CEO of WSO): [00:18:06] A lot of people have. Like, a lot of people have like four. I think it's like, I can't, I can't focus if there's so many thing I.

John: [00:18:11] Need to, I just need to. Yeah. Two's ideal for me at least.

Patrick (CEO of WSO): [00:18:15] Yeah. Getting another one potentially having it be like all the chat and communication and email and like Skype chatting and then the let it be like my actual work.

John: [00:18:23] Yeah, that'd be perfect.

Patrick (CEO of WSO): [00:18:24] Yeah. So. Yeah, I mean, 90. The problem is 80% of my job is like the Skype chats and the, like, checking in with people. Yeah. Like, literally, my job is like, Hey, what's going on right now? Hey, what's going on? Hey, what's going on?

John: [00:18:39] Yeah, I mean, that's all cool, though. I mean, now you have another. Now you have another piece of your business, too.

Patrick (CEO of WSO): [00:18:44] Yeah, well, yeah, And that's keeping me busy, so.

John: [00:18:48] Good.

Patrick (CEO of WSO): [00:18:50] Well, it sounds like things are going well. You have. What are the other processes you're in? So there's that one with the gaming boutique. What else?

John: [00:18:56] Yeah, another one's evaluations firm. Kind of took your advice on, like, looking into Tas. All the big fours were kind of done. So I found this firm in LA that kind of deals with business valuation, putting together fairness opinions. That's that kind of. Yeah, that line of work. I figured, I mean, that'd be a good kind of segway into investment making. I get the necessary skills and modeling and a little bit of corporate finance and I really had I mean, I've spoken to two of the partners. One was actually a UCI alum and then another one he put me in touch with another partner, had a good conversation with him, and then that partner put me in touch with a senior associate. So it hasn't been like a really refined interview process, but I've already spoken to three members of the team or three senior members on the team and they said they'd get back to me this week.

Patrick (CEO of WSO): [00:19:50] And and there's one other process and then so that how many people are on that in that company.

John: [00:19:57] I don't know. I think I think it's like 25. It's pretty small, but it's not.

Patrick (CEO of WSO): [00:20:02] Tiny.

John: [00:20:04] Yeah. And then the third one is with a it's a re in Irvine. And I'd primarily just be doing like portfolio management type of work. So, I mean, not too intriguing. There's just something that I'm kind of the real.

Patrick (CEO of WSO): [00:20:19] Estate development shop right now. Sounds better than.

John: [00:20:21] That. Yeah, exactly. So, I mean, my thought process is I mean, I get the offer of the boutique, I take that. But if I get the offers, the valuations firm or the re, I go back to my real estate development shop, be like, hey, And I really told my VP a couple of weeks ago that like I'm actively looking and recruiting for full time opportunity just because I'm about to graduate, I'm already graduated. Yeah. So I mean, if I get these offers, I take it back to and be like, Hey, look, got these offers? Do you mind like speeding up the process or matching it right now?

Patrick (CEO of WSO): [00:20:51] Yeah. Meaning if it's the valuations or the, or the I mean that will be the that's the tougher call the valuation firm or the real estate development.

John: [00:20:59] Yeah. Yeah.

Patrick (CEO of WSO): [00:21:01] That's I would almost push you to go to the valuation because it's a little more broad and doesn't pigeonhole you into real estate as early unless you're really kind of passionate about real estate and feel like it's the right move for you, but makes sense. Yeah, I wouldn't worry about the, the, the focus of the boutique bank because it's not like a fig or something where like the financial modeling is so crazy different from like most traditional companies.

John: [00:21:28] Okay, sounds good.

Patrick (CEO of WSO): [00:21:29] Especially if you can get a mix of like get one deal. It's like a restructuring one deal that's a, you know, a capital raise and another one that's like Manda that would be amazing.

John: [00:21:38] Perfect. I mean, and how would you kind of see that progression for like exit ops or I mean not many people stay within the firm. I mean there's only one associate and he was an analyst and then they probably have like a few others that dipped after their analyst stint. Some of them.

Patrick (CEO of WSO): [00:21:55] Best is probably Amanda because that's the most applicable across a lot of different types of jobs like corporate development, also by side, lower middle market potentially, maybe there's a lower middle market private equity fund that specializes only in gaming. That would be a great target, you know what I mean? So or you know or has a niche under there.

John: [00:22:18] Makes sense.

Patrick (CEO of WSO): [00:22:19] But yeah I would say Amanda first because just learning that process from from would be number one but then capital raising a little less so restructuring good for if you're like going to like a distressed fund that likes to do turnarounds, that type of stuff. But restructuring, you can kind of angle it too because like you could also just go to a plain vanilla PE fund like I did at a restructuring if you know how to sell it. Like, oh yeah, I understand complex capital structures and deal. And even though I didn't have a lot of M&A reps, that's you can learn that pretty fast.

John: [00:22:57] Okay, that makes sense.

Patrick (CEO of WSO): [00:22:59] And if you take our M&A modeling course to once it's out later this summer, that'll be good.

John: [00:23:04] Yeah, I'll definitely I'll definitely do that once I finish the two others right now.

Patrick (CEO of WSO): [00:23:09] Get on it. Get on it.

John: [00:23:11] I know. I gotcha.

Patrick (CEO of WSO): [00:23:12] No, no. Now you have now you have time. I mean, you're doing 40 hours a week right at the shops.

John: [00:23:17] So I got time in the evenings and I got time in the evenings now because, I mean, there's no school, there's no homework. Yeah.

Patrick (CEO of WSO): [00:23:21] I mean, you do one hour, you do one hour a night, just one hour. You should be able to get done with it in a couple of weeks.

John: [00:23:29] Yeah. Each quarter. And I enjoy it too. I mean, like it's a lot better and more interactive than other platforms.

Patrick (CEO of WSO): [00:23:36] Yeah, guys, keep selling it. Keep selling it.

John: [00:23:39] Too. I mean, I hear I hear some of your other podcasts and like, some of these guys say like, Oh yeah, I purchased the vault guide and then.

Patrick (CEO of WSO): [00:23:45] I was like, What do you.

John: [00:23:46] Mean? Yeah.

Patrick (CEO of WSO): [00:23:48] Also like.

John: [00:23:49] Got it, Got it. Put in a little ad right there.

Patrick (CEO of WSO): [00:23:54] Now the listeners know I don't, I don't actually I'm thinking, it's funny that you say that because I'm thinking of putting. Like our first advertisement in any podcast will just be me. Like, Hey, check out our financial modeling courses. I'm thinking of throwing that in the front because that's perfect. We've been doing this for over a year with basically no revenue.

John: [00:24:11] Yeah, no 100.

Patrick (CEO of WSO): [00:24:13] Not just the monkey in the millions, but the normal podcast. It's like 100.

John: [00:24:16] Exactly.

Patrick (CEO of WSO): [00:24:17] 120 episodes. But yeah, I think just letting people know it exists. The listeners notes out there is good because we're super proud of it.

John: [00:24:24] Yeah. How many I mean, do you have like data on like the type of listeners you have and like where?

Patrick (CEO of WSO): [00:24:31] Yeah, we get it. Well.

John: [00:24:32] What age?

Patrick (CEO of WSO): [00:24:33] Demographic type? Yeah, Young. That's what I figured. Yeah. Mostly college or like, young finance professional. It's pretty similar to the site. Doesn't go that far in terms of like, numbers. Yeah, we see about the W, so pod has grown a lot. We're seeing about, I think 60,000 listens a month now.

John: [00:24:52] Awesome. That's awesome. Yeah.

Patrick (CEO of WSO): [00:24:54] No, I mean, the monkey, the millions monkey, the millions less. It's more of like a blend between it does better on YouTube, which makes sense because it's more like it's less of an audio and there was more like share screen and stuff like that, especially early on with like LinkedIn. Yeah, but that's been I think I'm starting to, that's starting to pick up too. I think people start to follow You want to hear what happens to you exactly.

John: [00:25:18] Well we'll be celebrating It's just Yeah, I know. Hopefully soon. I mean, it's just been a roller coaster, I feel like. But I feel like I kind of have like a clear.

Patrick (CEO of WSO): [00:25:26] But you're getting paid, You're getting paid and you're working and you're getting experience which really matters.

John: [00:25:30] And living at home, too. So, I mean, there's no really expenses. It's all good. Yeah. Just pocket all that money, which is nice. Save, Save. Exactly. And then you got any student debt?

Patrick (CEO of WSO): [00:25:40] Any student debt.

John: [00:25:41] Fortunate enough not to have any.

Patrick (CEO of WSO): [00:25:43] Okay. Did your parents help you or you work through both?

John: [00:25:47] I mean, I had like several internships and I had like a desk assistant job on campus, and I was able to pay some of it, but like largely my parents helped me, so I'm super blessed.

Patrick (CEO of WSO): [00:25:57] Awesome. Well, hopefully you can keep saving.

John: [00:26:03] Yeah, hopefully. If I think I'm going to hear back from the associate today or tomorrow and he's going to finalize the date, whether it's this Friday or next week, early next week. Yeah. I think he's going to get more clarification about what's going to happen at the Super day. So I'm not sure what your schedule looks like, but is it cool if I reach out to you and maybe have another quick.

Patrick (CEO of WSO): [00:26:24] Yeah, we can do another quick session, maybe later this week if it's Friday or whatever. I'm looking. Thursday's tough for me and this Friday I'm pretty, but Wednesday I'm pretty open right now.

John: [00:26:35] Okay. Well, I'll let you know. I'll let you know what he says today.

Patrick (CEO of WSO): [00:26:39] I could. I could squeeze it in, like, Friday afternoon, probably like a half hour in there or midday if it's Monday and then Monday. Mondays are tough mornings because I have like the the weekly call with the whole group. But if it's like on a Tuesday, we could do like Monday, we could try to squeeze something in like Monday midday.

John: [00:26:58] Okay. No worries. I'll just keep you updated and let you know how it goes. Perfect. Yeah. But aside from that, continued networking, having a couple of phone calls each week, mostly on the weekends. Now everybody's pretty receptive to taking calls, like early Saturday, Sunday mornings, and just we'll see where that trends. But what's your.

Patrick (CEO of WSO): [00:27:19] What's your what's your list looking like now? Like people who have actually done phone calls with how big is that list.

John: [00:27:25] In terms of like previous phone calls.

Patrick (CEO of WSO): [00:27:28] Or like just total like since you started like this active networking average, like 50 people? 100.

John: [00:27:34] Probably 100, Yeah.

Patrick (CEO of WSO): [00:27:36] Do you have those in a she? Are you organized or is it all right inboxes pinging you every like six months.

John: [00:27:42] Not it's definitely the latter. And then I have I have a couple of contacts saved. I mean, I started off strong with the sheet, but then.

Patrick (CEO of WSO): [00:27:48] Do you take notes?

Patrick (CEO of WSO): [00:27:49] You can you.

Patrick (CEO of WSO): [00:27:50] Can do you can just keep it all in right inbox where you just have notes and it just pops up in your inbox every Oh.

John: [00:27:55] I have notes. Yeah. I have like a sheet of notes or like a dock where I basically keep notes on like the conversations, what we spoke about. And then when we spoke, where are you putting those?

Patrick (CEO of WSO): [00:28:06] Where are you storing those notes?

John: [00:28:08] Docs Google Docs. Yeah, yeah, yeah.

Patrick (CEO of WSO): [00:28:11] If you want to make it easier on yourself, if you use read inbox, there's a note tab like you can attach it right to the email so that when it pops up in your inbox you're like, Who the hell is this person? I don't even remember because if you have 100 people you're talking to, it's gets hard and then you just have the notes, you just click on it. It'll be like, boom, boom, boom, boom. It'll trigger that memory. So so when you're crafting that next kind of follow up email, you can kind of drop in like a reference to something you spoke about.

John: [00:28:37] Yeah, all the time. Yeah, all the time.

Patrick (CEO of WSO): [00:28:39] It's good. Yeah. Very good. Well, it's good to hear you're still you're still putting in the groundwork because you don't want to let that go.

John: [00:28:49] No, definitely not. I mean, I feel like I have, like a backup plan within, like, the real estate development for my working out right now because they have a really strong tie to USC. And I think, like I want to say, like 30% of the team went to USC and the CEO and founder, he's like on the board of trustees or he is like the head of the board of trustees or whatever. Yeah. So I feel like potentially if I stay with them, move. Go get my MBA at USC. Yeah, yeah. And then, I don't know, lateral to like IBRD or something like that.

Patrick (CEO of WSO): [00:29:28] So I like it. I like that plan. Yeah. Although although I'll say I'll say that MBAs are expensive.

John: [00:29:35] Yeah. No, for sure. I know that without a doubt. I mean, that's not ideal, but like, it's a backup.

Patrick (CEO of WSO): [00:29:40] It depends what financially, if you get a financial financial aid package, The problem is if your parents make a little bit of money, then it's tough. Even if they're like making middle middle income or like.

John: [00:29:51] You're not going to get. It's kind of been the challenge we've had.

Patrick (CEO of WSO): [00:29:53] Yeah. So.

John: [00:29:56] Yeah, exactly.

Patrick (CEO of WSO): [00:29:58] Awesome. Well, let's. Yeah, maybe plan on doing something short at the end of this week. We can kind of talk a little bit about the Super Day, if it's coming up. And congrats on all the progress so far. It's exciting.

John: [00:30:08] I appreciate it. Thanks for everything. I really appreciate it. Thanks for the course again. It's great.

Patrick (CEO of WSO): [00:30:13] All right, man, We'll chat soon.

John: [00:30:15] All right.

Patrick (CEO of WSO): [00:30:16] And thanks to you, my listeners at Wall Street Oasis, If you have any suggestions whatsoever, please don't hesitate to send them my way. Patrick at Wall Street, Oasis Dotcom. And till next time