One Question Friday: Someone Stole My NFTs

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This is a podcast episode titled, One Question Friday: Someone Stole My NFTs. The summary for this episode is: Shaan Puri (@ShaanVP) and Ben Levy (@Benmlevy) answer one listener's question. On this episode, Collin asks how to deal with defeat after his NFTs were stolen. To submit your question and hear yourself on My First Million, go to MFMPod.com and click on the circle with the microphone in the lower right hand corner. ----- Links: * Do you love MFM and want to see Sam and Shaan's smiling faces? Subscribe to our Youtube channel. * Want more insights like MFM? Check out Shaan's newsletter.

Speaker 1: All right, let's take a quick break to talk about Success Story, a new podcast by the HubSpot Podcast Network. Success Story features Q& A sessions with successful business leaders, keynote presentations, and stuff about sales, marketing, and business. They have episodes, for example, The Dark Side of Venture Capital. Ooh, sounds interesting. Discord was built for gamers and took the world by storm. It sure did. So listen to Success Story wherever you get your podcasts.( singing) All right. It's question of the week time, or what do we call it? One Question Friday? I like that. All right, one Question Friday. Sam is traveling so I got my boy Ben here, Ben Levy. Not producer Ben, not powerful producer Ben. This is Ben Levy, the CEO of the Milk Road and my business partner across my fund and a bunch of other things. You guys hear me reference Ben a lot but you don't ever know which Ben because I only deal with Bens. So this is one of the Bens. Ben, what's up man?

Ben Levy: What's going on? I'm riding high today. Chris Paul and the Suns won by like 25 last night, so I've never been happier.

Speaker 1: This is true. All right. So let's do this one question. I think we have an audio clip, right? Let's play the audio clip. I haven't heard this yet, so let's see what it is.

Colin: Hey guys. My name is Colin. I just had all of my NFTs stolen today. So my question is, and I'm sure you've been through something like it before, when you get gut- punched... Has that happened to you? What happened? And how did you work through it?

Speaker 1: Oh, man. I could feel the defeat, I could feel the pain in his voice there at the end. That" thank you," that was a soul crushed thank you. So Colin, you got your NFTs stolen, I feel for you, that's no fun. I mean, it's a crime, somebody came and stole your property. It's digital property, but a crime has been committed. So you got to kind of separate... Here's my advice to you. Have I had somebody steal a bunch of my property before? Not really. But there's different flavors of gut- punch and I've had my share. So here's my formula for how to handle it. The first step is just be still. And I mean this in a Zen way, which is that... Look, what's going to happen for the next 24, 48 hours for you is your mind is going to go to a bunch of different places. You're going to get angry, you're going to feel sad, you're going to feel upset at yourself, you're going to feel upset at others, you're going to feel upset at the fact that you can't get it back, so you're going to hate crypto. You're going to feel a bunch of emotions by default. And what you want to do is you want to not just react, you want to respond. So what's the difference between a reaction and a response? A reaction is what you do right away, it's an impulsive thing. And typically we don't love our reactions to things because our reactions are the things that are happening in a more primal way. Whereas our response is what happens when we pause for a second and we choose how we're going to respond. So a reaction is typically not something you're choosing, a response is something you're choosing. And this happens to me multiple times a day, where I got to check myself," All right, am I reacting or responding here? And which one do I want to do? I know I can do both, but I'd rather respond." And so the first thing is you got to be still, you got to distance yourself from it emotionally, first. Then you got to say," All right, well, how am I going to respond to this?" Well, there's some logistical steps you might take to try to get back, report it, try to figure out who did it, notify people in the community so other people don't fall for it, whatever the scam was. But then you got to... Okay, let's say you've done the logistics part and maybe there is no happy ending where it didn't just all turn out right. That's what I call you've got to decide what story is true. So in any event, anything that happens, there are multiple stories. But to simplify, I'll say there's two stories anytime something happens. There's the story that'll make you feel bad and there's the story that'll make you feel good. They're both stories, right? And they both have truth to them, but it's just a matter of which angle you're looking at something. So you got to decide, which story am I going to roll with? Am I going to roll with the version of this that makes me feel really bad or am I going to roll with the version of this that makes me feel good? I know that probably sounds hard in the moment when you just got a bunch of your shit stolen, which is why we first tried to distance ourselves from it. But that's where you're going to have to go. You're going to have to decide the version of this story. That's going to make you feel good, right? Imagine a breakup. Most people, when they have a breakup in a relationship, they feel bad and they choose a story that's going to make them feel worse, which is," Oh my God. All those years we spent together is time wasted. I'm not good enough, or she's not good enough" or whatever the reasons are, right? We come up with a story that makes us feel bad, or we come up with a story that makes us feel good, which is," Man. Now I know what I really want. Now I'm ready for the right person." You want to walk out into the street and just look left and right, and say, Next. I'm ready." And so there's a version of the story that'll make you feel good or bad in any given situation. The power is in being able to choose what the story is and not just having the default one put on you. So that's my mentality, mindset rant. Ben, what do you think? You've had your fair of gut punches, have you ever had something like this?

Ben Levy: Yeah, I mean, in crypto, I think like a year ago I had a few ETH stolen out of my wallet and I was crushed and I think I actually called you and I was like," Dude, it sucks. I just lost a few ETH because I stupidly clicked on a discord scam." And I think what you said was," That's the price of admission. Every single person in crypto has had that happen. And that's just the name of the game." So I don't know. My perspective on it is... Yeah, definitely been gut- punched a ton in crypto and I also feel like every crypto I've ever gotten, I'm mad that I didn't sell it at the right time or I held too long or bought too late. I think that's the name of volatility too. So I'm just like," I'm going to get a huge home run because I play this game and... Yeah. Learn from my mistakes."

Speaker 1: Yeah. There's also this phrase with investing, which is," I've never done an investment right." Which means on an investment that worked out, I should have always been earlier and bet more and on an investment that's wrong, I shouldn't have bet or I was too late or whatever. And so you'll never ever, on any investment, feel like you did it right. You'll always be kicking yourself, wishing you had done it either bent bigger or better earlier or whatever on it. And so I think the thing you said that's right, which is," It's the nature of the game." And so crypto NFTs, this is the wild, wild west right now. There's a reason your NFT can go up in 10x in price in one month or 100x in price in a year, or... I don't know how much Bored Apes were, but I think a year ago, they were under one ETH each and now they're... Whatever, 140 or something like that? So 140x in a year. So one of the reasons you can get these types of gains is because it's a wild, wild west. But what comes with the wild, wild west is that... Dude, it's not safe. There are places where you could stub your toe. And me and Sam, I think said this on a pod once, which was," If you become an entrepreneur or an investor, and then every time things go... anytime disaster strikes or things go poorly or things go down, you're emotionally a wreck because of it." And I'm not saying Colin is, but it's very easy to become a close to an emotional wreck when things go down. It's like you signed up to go... You waited in line to go on a rollercoaster and you strapped yourself in and then the rollercoaster went up and down and every time it went down, you were like," Ah, oh my God, I can't believe this. Get me off this thing." And it's like," Dude, why did you get on a rollercoaster?" If you choose entrepreneurship, you choose investing. If you choose investing, you got to wake up. And the last four months, dude, I've lost millions of dollars just because I wake up and every day's red. Stocks are red, crypto is red, everything's red. I haven't seen green in months, dude. I don't even see the color green, right? I'm starting to text people on Android just so I can see the green speech bubble dude. I just want to see green. And... But that's the reality. It's like I signed up to be an investor, what did I think?" It's always going to go up"? I signed up to do this crazy crypto stuff. Yes, this crazy shit where I'm playing this game where you're a self- sovereign individual, you're custodying your own assets. Well, there's going to be times where you didn't custody it very well and it got stolen. And so, same thing with being an entrepreneur is, you got to ask yourself," Am I just complaining that the roller coaster went up and down?" And that's a way to not let yourself be a victim. I think one of the most positive traits somebody can have is that they never let themselves be a victim. No matter what happens in their life, they view themselves as the person in control and the root cause of whatever has occurred. And in doing so, they give themselves the power to make things good and they give themselves the accountability when things go bad. And so I think that's just a decision you got to make up front. Am I going to let myself ever play victim and look for pity, self pity or pity from others? Or you just take that off the table, you say," Nope, I'm never going to play that game. And so that means on days where my shit gets stolen, somebody didn't steal my NFTs, I let my NFTs be stolen." And... Right? So you take control over what happened. And it hurts in those moments, but that decision to never play victim is one that pays off in spades for the rest of your life. Ben, what did I miss?

Ben Levy: Also, it's a great opportunity for a Twitter thread right here." How I got my NFT stolen."

Speaker 1: Yeah. This is the beginning of every great story, right? I've had this many times where I get a cease and desist letter and then we turn it into marketing for our company. I've had it where Google or Facebook will launch a clone of our app and your investors will send you a link and be like," Hey, did you see this?" It's like," Yeah, motherfucker. I saw it. I saw that Facebook has cloned our app pixel by pixel. And that this$ 500 billion company is now competing with us. Yes. I saw the news." But you got to... In that moment, it's like,"This is our chance. This is our story. Of course they're going to copy us, we're onto something. Right? Of course. They're going to copy us pixel for pixel, because we have the right solution. Right? And you have to decide what story you're going to tell yourself and your team and the people around you. So that again, you're going to feel some kind of way. Would you rather feel bad or feel good? That's all you got to choose. I tell Ben this all the time. What Ben started this off, talking about the Suns winning and Ben, how do you feel when the Suns win? Amazing. Ben, how do you feel when the Suns lose?

Ben Levy: Pretty down on myself. Pretty down everything.

Speaker 1: So you ride the roller coaster and you let yourself feel bad. And so that's a choice you're making right now. At some point, you might decide to play the game differently, which is," Is it possible to feel great when your team wins and not feel shitty when your team loses?" Yes. That is possible. Sounds like it's breaking the rules, but that's what you do when you're a life hacker. It's like, yeah, you break the rules. It's like," I'm going to play the game on my terms." And so there is a version of that.

Ben Levy: Yeah. And when your businesses have issues or... Think when the businesses have issues, you don't let it get you down at all and you're able to take the wins and stride really well.

Speaker 1: Do you have an example of that? Like something where we've taken... we've had a situation where other people would've felt down, but we spun it? Does anything come to mind?

Ben Levy: I mean, I think we're in one right now, right? Like we send the Milk Road and we've had some deliverability issues recently where the open rates have dropped a little bit and we can't really tell... We're trying to out why. And I think there's one version where you freak out about that and you make it ruin your week or ruin your day. And there's another version where you just take it in stride and know you're going to figure it out.

Speaker 1: Yeah... You fast forward a year from now, this will be a forgotten footnote on the overall story. And even when things are really crazy and something really bad happens, like in my e- commerce business, our entire shipment for Christmas got seized and flagged and then inspected, and then we had to do a recall, and all this stuff, and the people on my team were all like," Oh my God, just for this one eighth of an inch... This random seizure for no reason, just because of random inspection. Then on one item they found a one eighth of an inch discrepancy. Oh my God, this is so unfair, this is so bad, blah, blah, blah." And it's like," All right. Dude, look." And I created a channel in our Slack called" Highs and Lows" and I said," Let's put them here. Let's document the highs and lows." And I think every startup should do this, honestly, is document the highs and lows, because it'll just get you used to being... when you go in there, when things feel really bad and you want to go in there and write it down and you've... It's like you see the last one, six months ago. And you're like," Oh yeah, that felt pretty bad too. But I've totally forgotten that. Our business has grown 2x since then." And like," Oh just the way that one turned out to be nothing, this one's going to be nothing too. I'm going to eat this. And I'm going to use this as an opportunity to learn." Like, oh shit, we didn't even know this one eighth of an inch rule, we had to go like change the measurements of something. I'm glad we knew now versus when it's bigger, right? I'm glad this happened because that's going to lead to all these good things. And so there's... We had an example like this, where, I'll give you another one with our e- commerce business, the warehouse managers that we had hired... It wasn't working out, then we found out they were trying to copy our business in a way and launch a competitor or something like that. Because they're in the warehouse, they see business is going great, so they wanted a piece of the action. And this was a moment where our team immediately felt betrayed and then upset and was like," Well what should we do? Should we change? We're going to have to make a change, it's going to be so hard." And those are the moments where you need to show the most poise. All right? That's when strength matters, is when things get hard. When things are easy is not when strength matters. So it's like," Oh dude, I've been training for this. I've been training for these types of moments. Finally, I got a reason to use these muscles that are in my body to be able to be strong here." And so it was all about poise. It was all about basically coming up with," All right, let's first be still, let's not overreact. Second. Let's decide how we're going to approach this and respond to this situation, not react." And then in that response, it turned out where actually we ended up finding this amazing manager and we ended up saving all this money. Now we couldn't have seen that up front, in the moment it felt bad. Now three months later, or two months later or whatever, it's like," Oh dude, we found this thing. That's saving us$ 2 per order, which is going to add up to be hundreds of thousands of dollars of extra profit saved because we found this new manager who found this new process who found this new thing." And we would've never done that. Had that disaster, not struck. As a leader, you're always on the lookout to arm yourself with knowledge, the books, the seminars, the podcasts, to help you make the best decisions for you and your customers. Because when you know more, more good can grow. with HubSpot CRM platform, you can track, store, manage, and report all the tasks and activities that make up your relationships with your customers. That gives you a bird's eye view over your customer's interactions and HubSpot empowers your decision making like never before. So you can grow your business, your customers, and give them all that you've got. Learn how you can grow better at hubspot. com. And so once you go through life enough, you have enough experience. You realize," Oh, it's all working for me, not against me." And once you decide," It's all working for me, not against me," then the next time the disaster strikes, you're like," All right, cool. What's this... How is this working for me?" And you don't panic. And then people around you are like," Man, how's this person never panic, they never freak out about this stuff?" And then that becomes the culture of the company. That's where you want to be.

Ben Levy: Ironically, I'm good at that at everything except when it comes to Phoenix Suns basketball.

Speaker 1: Yeah. Well that's because you're fit. You're mentally fit. It's like you're mentally fit with your upper body, it's just you never do leg day. Right? So it's like, everybody's got something in the gym where they're really strong at it, it's easy for them, it's hard for others. And then they have something that's easy for others, hard for them. And that might be calf raises, that might be whatever. And so... You can take a body builder, but you go put them in a Pilates class and they're struggling because they don't have the flexibility or maybe the core strength of coordination to be able to do some movements. And so everybody's got these moments that are... these situations that are harder for them. Like Ben Wilson, I'm curious for you. What's the thing? Give me yours. What's the adversity disaster strike situation where you're pretty good and then what's the adversity or disaster strike situation where you're pretty weak? What's your version of leg day?

Ben Wilson: I'm actually... Because I'm a pretty relaxed person, I tend to do pretty well with adversity, but personal attacks really get to me. Bad things happening in the world don't bother me.

Speaker 1: Bad things for other people? Don't care. Bad things for me? Really care.

Ben Wilson: No, but it can have... If it hurts my bank account even, or whatever, I just kind of... I move on with life. But if someone says something bad about my character or yeah, insults me or something like that... The one I think of that, I think I dealt with pretty well was... I was in Barcelona... And it relates to what this guy was talking about. And I'm sitting there at a cafe. So imagine a cafe, I'm on La Rombla, which is a walking street. And so I'm facing this big street with a lot of people and I'm eating dinner and I've got my phone on the table and I'm reading my phone as I eat dinner. And this old woman comes up to me and sticks a sign in my face and starts asking for money. But the weird thing is, I speak Spanish and she's not speaking Spanish. And so I don't know what she's saying, she's got a sign right in my face and she's speaking, clearly asking for money, but I can't tell what she's saying. And I was like," What? I don't understand you." And she keeps saying stuff, so I'm like," Go away." I try and kind of shoo her off. She leaves, I'm kind of shaken up. And after a couple seconds reorienting myself, I go back to my dinner, realize my phone was gone.

Speaker 1: Yeah.

Ben Wilson: This woman had stuck the sign in my face and underneath it, had taken my phone from off the table. And I run off and go search for her. And of course, even if I had found her, she'd probably handed it off to someone else and the phone was gone. And that is the thing that I actually deal with okay. Obviously, I freaked out for a couple minutes, was really mad and was stewing. But eventually I just was like," Okay. I'm okay." It's hard to explain, I was freaking out because I didn't have a phone in a foreign country and it was scary, but I was like," I'm okay. I've got all my fingers and toes." And it was actually a good opportunity to reevaluate of like," All right, this is going to mess with a lot of stuff. But all the things that actually matter in my life are not affected by this phone being gone."

Speaker 1: Right. I'm going to also give a technique because one part's the philosophy, another is a simple technique you can do. So how do you actually be still, how do you actually get to the response not the thing? And it's really annoying when bad things happen. And then the advice you're getting is like," It's okay, don't worry about it, shake it off." Because it's like," No, in the moment I feel bad. I feel some sense of loss." And so it's very hard. And so the actual technique here is a Tony Robbins technique that he calls" The 90 Seconds of Suffering." And the story is, Tony goes to India and he's taking his platinum partners. And these are the dudes who it's like, you go to the beginner of Tony Robbins event, you're like," Oh my God, this guy's the Messiah." And so you're like," Oh, if I pay$ 25k a year, I get to go on a trip with Tony and I get to be a platinum partner." And so you pay, maybe it's even more than that, maybe it's$ 100K or something like that. You pay some crazy amount of money and you become a platinum partner. So he took his platinum partners to India, to some like ashram in the mountains. And he's just giving them a unique experience. And he goes, and this guru guy in the mountains is like," Oh Mr. Tony Robbins blah, blah, blah." And he's like," How are you?" He's like," Oh, I'm fantastic. Life is amazing, I feel so grateful," saying all the Tony Robbins things in his monster voice. And then they're like... The guy was like... Said something like," So how are you dealing with your suffering?" And he's like," Suffering? What the hell are you talking about, bro? I'm Tony Robbins. I'm not suffering. I'm Mr. Positivity. I got my platinum partners here. We're in India. I'm teaching. I'm not suffering. They might be suffering, I'm not suffering." And he's like," But I just saw you a moment ago, whatever your employee was saying about the thing they forgot and you got so upset, you were telling them how they should do it differently. You totally changed your face." And he's like," Oh, well that was just... We have this... I want this trip to be great for our partners. And this person dropped the ball and yeah, I guess I kind of lost my cool, but I really care about blah blah blah" and he's like... He caught himself, he's like," Oh, okay. I'm just justifying. And he's like," That's not suffering though. Suffering is like... Look around in India, you see people suffering on the streets." And he's like," It's the same thing. They have a different cause, but they feel the same thing, they feel suffering in a moment. Right?" And so he goes," You are Tony Robbins. I see you now. And you're bright. And you're happy. You're lit up. You're you're energetic. You you have your charisma, all this stuff." And he is like," Don't make your happiness so cheap, Tony Robbins." And he told him, and he was like," Happiness, cheap what do you mean?" He's like, that guy just did this small thing and he took your happiness. So your happiness had a very low price. It only took a very small thing to acquire your happiness. He took it away from you." And so what you want to do... And so my takeaway from this was, you want to have this... You want to be the Louis Vuitton of happiness. You want your happiness to be very expensive, that it takes a very, very big event, even bigger than all your NFTs gets stolen, for something to take it away. So you have to decide the price of your happiness is your happiness going to go away if someone gives you a wrong look, or cuts you off in traffic, or your pizza delivery, DoorDash gets delayed? Are you going to get upset? And not upset in a big way, but you lose that joyful state of mind you could otherwise be in. And so he gave himself this thing, Tony came up with this technique, called" 90 Seconds of Suffering." He goes," Okay. So I started to notice these little moments where I would lose my state. I would lose my state of mind where I was no longer in that happy, grateful, optimistic, enthusiastic state of mind." He's like,"And I would just decide, all right, I can't prevent feeling that feeling. It's very hard to just prevent it. But I can contain it." And so he is like," I'm going to give myself 90 seconds to suffer. And after the 90 seconds, I got to let it go, but I get 90 seconds to do it." And of course what happens is, if you don't time box it, it's very easy to have something ruin your day or even get you down for a week or a month or a year and you're depressed all of a sudden. So time- boxing is valuable. But the funny thing is, if you do the 90 Seconds of Suffering where you're like," All right, this shit happened. I'm going to give myself 90 seconds." Within 24 seconds, you'll be like," All right, whatever, I don't even need to do the whole 90. It's done. I know it's going to end anyways in 90 seconds. So do I really need to sit here and wait the 90 to feel bad?" If it's going to end in 90 seconds, anyways, you end up not even doing 30. And so that technique of giving yourself 90 seconds of suffering, whenever whatever happens has been pretty game- changing for me. And so I'd encourage you to do that. All right, NFTs got stolen. All right, have at it. 90 seconds to suffer. Suffer fully and as much as you want for 90 seconds, but the agreement is at the end of that 90, you no longer get to suffer about this. At the end of the 90, you got to take a deep breath and you're going to change the story in your head about what's making you feel bad, because it's not that your NFTs got stolen. It's some story about that. It's how much money you've lost, how you're not going to get them back, how you spent so long collecting them, how that was your favorite one. That story is what's making you feel bad and after 90 seconds, you got to change that story. So that's my advice for One Question Friday. That's it. Peace out.( singing)

DESCRIPTION

Shaan Puri (@ShaanVP) and Ben Levy (@Benmlevy) answer one listener's question. On this episode, Collin asks how to deal with defeat after his NFTs were stolen.

To submit your question and hear yourself on My First Million, go to MFMPod.com and click on the circle with the microphone in the lower right hand corner.