Billionaire Shares His Side Hustle Playbook.

The Genesis of a "Capital Man" [00:00]

• The entrepreneur describes his core philosophy as "hunting money," differentiating himself from those who hunt "cockroaches" by focusing on "big game."
• He envisioned a law firm like Google, striving for broad reach and comprehensive service.
• His ventures extend beyond law, including amusement attractions like Alcatraz East, apartment complexes, and shopping centers, all designed to "print money."

"My big vision was this. What if Google was a law firm? What would it look like?"

Building the Wonderworks Empire [02:09]

• The entrepreneur's most personally fulfilling business is Wonderworks, an interactive science center inspired by his children's dissatisfaction with traditional science museums.
• He drew inspiration from places like the Exploratorium in San Francisco and a rendering of an upside-down building.
• Wonderworks attractions, located in places like Orlando and Pigeon Forge, are designed to be interactive and engaging for both children and adults.
• These businesses have zero debt and generate significant revenue, with eBay sales exceeding $33 million annually.

"If you built a science center that was interactive that's what a science center should be where you're touching feeling doing and that parents would enjoy as much as kids."

The Allure of Alcatraz East [07:00]

• An experience at Alcatraz in San Francisco, where tickets were sold out for weeks, sparked the idea for Alcatraz East.
• He identified America's fascination with crime and punishment as a lucrative market for an attraction.
• Alcatraz East in Pigeon Forge, Tennessee, replicates an 1800s prison and showcases the history of crime and punishment, generating $5 million in annual net profit.
• The initial attempt to establish a similar museum in Washington D.C. was unsuccessful due to location and façade restrictions, highlighting the importance of the physical presentation.
• The museum features iconic items like Ted Bundy's VW, Bonnie and Clyde's death car, O.J. Simpson's Bronco, and John Dillinger's sedan.

"America is fascinated with crime and punishment like nothing else."

The Power of Early Hustle and Luck [13:08]

• He posits that some individuals are born with an entrepreneurial seed, often evident in their childhood endeavors like paper routes, which teach responsibility and resourcefulness.
• He shares his own childhood experience of selling candy at school for a small daily profit.
• This idea is supported by historical examples of successful entrepreneurs like Warren Buffett, Jeff Bezos, Sam Walton, and Walt Disney, all of whom had early hustles.
• His upcoming book, "Life is Luck," explores the thesis that while we are born lucky (e.g., being born in America), subsequent choices and experiences determine our path.

"There are people that are born with a entrepreneurial seed. A seed. It just happens."

The Evolution of Personal Injury Law and Advertising [17:35]

• A pivotal moment in his career was witnessing his brother's severe injury and subsequent mistreatment by large corporations, which ignited a passion for personal injury law.
• He recognized that despite the public's negative perception of personal injury lawyers ("ambulance chasers"), there was a significant societal need.
• He saw the future of law marketing in advertising, a practice that was taboo and even legally restricted at the time.
• He took a bold step by borrowing $100,000 to fund commercials, a decision that went against the prevailing "country club" mentality of the legal profession.
• This strategic move allowed him to gain a significant market advantage, becoming a household name like Kleenex in the tissue market.

"The two things I came up with in my mind was Justice for All and For the People."

Diversifying the Portfolio: From Tech to Attractions [32:48]

• The entrepreneur manages a diverse portfolio including shopping centers, apartment complexes, Marriott hotels, a former billboard company, and an ad agency.
• He co-created "Downtown Flavor Town" with Guy Fieri, a blend of Dave & Buster's and Fieri's culinary brand, with locations in Pigeon Forge and Myrtle Beach.
• He sees opportunity in repurposing struggling malls, such as turning a former J.C. Penney location into a "Downtown Flavor Town" and transforming an entire mall into an immersive "gallery" experience using technology and illusions.
• He advocates for "first principle thinking" to deconstruct assumptions and find innovative solutions, like repurposing malls instead of demolishing them.

"What I really wanted out of the mall was I wanted the J C Penney location. It's the the location's fantastic. The mall's just no good."

The "Google Law Firm" Vision and Litify [37:59]

• His ultimate vision for his law firm was to create a "Google law firm" that is ubiquitous and handles all types of cases.
• This led to the development of Litify, a tech platform built on Salesforce, designed to bring transparency and automation to legal processes.
• Litify was initially an internal tool but became so successful it was spun off and sold, with a significant valuation of $600 million for 60% of the company.
• The platform facilitates case referrals and management, creating a network effect where partner firms must use Litify to receive referrals.

"My big vision for the law was this. What if Google was a law firm? What would it look like?"

The Art of "Hunting Big Game" in Law [51:50]

• The entrepreneur's competitive edge in law stems from his ability to "fish first and fish fast" (acquire cases) and then effectively "cook fish" (maximize case value).
• He contrasts his approach with 95% of lawyers whom he deems "terrible at what they do" and who accept low settlement offers.
• He emphasizes that significant case value is realized closer to trial dates, during jury selection, or after delivering massive verdicts, citing a $500 million verdict against Google.
• He operates with a stable of "racehorses"—specialized lawyers who parachute into cities to secure large verdicts—contrasting them with lawyers who "take the last best offer."

"Where my competition gets beat by me is most of them, 95% of them are [ __ ] lawyers. They're terrible at what they do."

Building the "Greatest Show on Earth" [01:08:47]

• He views his firm and businesses as a circus, aiming to create the "greatest show on earth" by focusing on "love them, feed them, focus."
• This involves rewarding partners who make significant money and ensuring focus on high-stakes cases and ventures.
• He acknowledges facing near-failures, such as a $14 million loss in Atlanta due to a misplaced hire, and selling a small amusement park for a loss, but views these as part of the process, akin to batting averages in baseball.

"When I look at this firm or all my businesses, I always envision it like I'm building a circus and I want to build the greatest show on the earth."

The "Why Bother" Philosophy and Future Ventures [01:14:24]

• He believes in the "bullets before bombs" approach, testing ventures with smaller investments before scaling.
• He sees opportunity in service industries like plumbing and electrical work, areas where he can leverage his skills in scaling and team building.
• His passion lies in entertainment businesses, like the attractions, where there is less adversarial conflict compared to his law practice.
• His next planned venture is "Santa's Chocolate Factory," a themed experience that might even charge a nominal entry fee, and transforming a mall into an immersive "gallery" attraction.
• He views public appearances and media engagements as "new age marketing" to humanize his brand beyond the serious nature of his legal advertising.

"So, I look at these things as new age marketing where people get to see me, you know, with my ads. I look like I'm, you know, working at a funeral home."