My First Million

This $3B Founder Is The Next Elon Musk

Sep 26, 2023

48:24

Snipd AI

Sam Parr interviews Brett Adcock about his entrepreneurial journey, including his near bankruptcy after a $100m exit. They discuss self-funding Archer Aviation, being a self-taught finance expert, choosing the right idea, and the future of robotics. Adcock shares his insights on the advantages of hardware over software and predicts Figure.ai will be a major player in the next 5 years.

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Quick takeaways

Brett Adcock's approach to business involves taking calculated risks and prioritizing technology development as the key to success.

Brett Adcock sees immense potential in developing humanoid robots to address labor challenges, increase efficiency, and revolutionize industries.

Deep dives

Brett Adcock's Unique Journey and Success

Brett Adcock, a highly successful entrepreneur, shares his unique journey and insights. He started a recruiting website that he sold for $100 million and went on to invest his money into companies like Archer and Figure. Brett's approach to business is subtle and low-key, but he possesses a relentless determination and a desire to make a significant impact in the world. He believes in the power of technology development and focuses on solving real problems with his innovative ideas. Brett's ventures aim to revolutionize industries like aviation and robotics, making him a potential Howard Hughes or Elon Musk of his generation.

If I were to tell myself what’s important 20 years ago

00:45

How to Do a Discounted Cash Flow Analysis

01:30

Finding the Right Opportunity and Immersing Oneself

01:41

Building Humanoid Robots for Automation and Physical Labor

03:04

Introduction

4min

From Battery Exit to Electric Aircraft

6min

Navigating Financial Challenges and Finding Resilience

11min

Learning Copywriting and Business Finances

4min

Creating a Successful Website and Selling Interview Guides

2min

Making the Right Decisions

5min

Building Humanoid Robots to Automate Physical Labor

14min

Episode 499: Sam Parr (https://twitter.com/theSamParr) talks to Brett Adcock (https://twitter.com/adcock_brett) about how he nearly went bankrupt after his +$100m exit from Vettery (now Hired). How? Betting everything on the next big idea. And he’s doing it again today with Figure.ai, a robotics company bringing a general purpose humanoid to life.

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Show Notes:

(0:00) Intro

(2:00) How Brett self-funded Archer Aviation

(13:00) Nearly going personally bankrupt

(19:00) Street of Walls and being a self-taught finance expert

(24:00) How to choose the right idea to work on

(28:00) Why Future could be the biggest business in the world

(32:00) Addressing objections to a robot workforce

(35:00) Why hardware is actually easier than software

(40:00) How big is Figure going to be in 5 years?

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Links:

• Brett Adcock’s website - https://www.brettadcock.com/

• Figure (AI Robotics) - https://www.figure.ai/

• Archer Aviation - https://www.archer.com/

• Vettery (now Hired) - https://hired.com/

• Ikagai - https://tinyurl.com/3x9mytpb

• Street of Walls - https://www.streetofwalls.com/

• The Fast Track: https://tinyurl.com/yeyz7j7p

Past guests on My First Million include Rob Dyrdek, Hasan Minhaj, Balaji Srinivasan, Jake Paul, Dr. Andrew Huberman, Gary Vee, Lance Armstrong, Sophia Amoruso, Ariel Helwani, Ramit Sethi, Stanley Druckenmiller, Peter Diamandis, Dharmesh Shah, Brian Halligan, Marc Lore, Jason Calacanis, Andrew Wilkinson, Julian Shapiro, Kat Cole, Codie Sanchez, Nader Al-Naji, Steph Smith, Trung Phan, Nick Huber, Anthony Pompliano, Ben Askren, Ramon Van Meer, Brianne Kimmel, Andrew Gazdecki, Scott Belsky, Moiz Ali, Dan Held, Elaine Zelby, Michael Saylor, Ryan Begelman, Jack Butcher, Reed Duchscher, Tai Lopez, Harley Finkelstein, Alexa von Tobel, Noah Kagan, Nick Bare, Greg Isenberg, James Altucher, Randy Hetrick and more.