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My First MillionMy First Million

How I Sold My Company To PayPal For $800 Million | Bryan Johnson (#388)

No more small boy spreadsheets, build your business on the free HubSpot CRM: https://mfmpod.link/hrd - Episode 388: Shaan Puri (https://twitter.com/ShaanVP) and Sam Parr (https://twitter.com/theSamParr) talk to Bryan Johnson (https://twitter.com/bryan_johnson) about starting Braintree - which he sold for hundreds of millions - and is his current businesses as Founder/CEO of Kernel and his own personal project Blueprint, where he's working to reduce his biological age. — Check Out Shaan's Stuff: • Shaan's weekly email - https://www.shaanpuri.com • Visit https://www.somewhere.com/mfm to hire global talent (like Shaan does) and get $500 off for being an MFM listener. Hire developers, assistants, marketing pros, sales teams and more for 80% less than their US equivalents. — Check Out Sam's Stuff: • Hampton - https://www.joinhampton.com/ • Ideation Bootcamp - https://www.ideationbootcamp.co/ • Copy That - https://copythat.com • Hampton Wealth Survey - https://joinhampton.com/wealth 💰 Pitch your startup for a shot at a $1M investment with Sam Parr as the MC https://clickhubspot.com/pitch ----- Links: * Braintree - https://www.braintreepayments.com * Kernel - https://www.kernel.com * Blueprint - https://blueprint.bryanjohnson.co 📧: Sign up for The Hustle Daily Newsletter: https://mfmpod.link/afg 🎙️: Download Our Podcast: https://link.chtbl.com/09efDXDZ A podcast where we brainstorm new business ideas based on trends & opportunities we see in the market. Sometimes we have famous guests, and they do it with us. ------ Show Notes: (00:00) - Intro (02:41) - Background starting w/Braintree (15:28) - Financial plans and life changes (21:33) - Where do you put your money (27:27) - What does Kernel do (34:55) - Blueprint blog (01:01:11) - Ideas that others could do ------ For more quality videos subscribe here ➡https://www.youtube.com/channel/UCyaN6mg5u8Cjy2ZI4ikWaug?sub_confirmation=1 🔔 Turn on notifications to stay updated with new uploads #shorts #youtubeshorts Like || Share || Subscribe

Sam ParrhostBryan JohnsonguestShaan Purihost
Nov 22, 20221h 10mWatch on YouTube ↗

Summaries, chapters, transcripts, and FAQs on this page are made by uListen, not YouTube.

CHAPTERS

  1. 0:00 – 2:46

    Bryan's Background and the Blueprint Premise

    Sam Parr introduces Bryan Johnson's career, from bootstrapping Braintree and selling it to PayPal to Kernel, his fund, and Blueprint. Bryan explains that his biological age is really a collection of markers across different organs.

    • •Braintree was bootstrapped and sold to PayPal; Braintree also acquired Venmo
    • •Blueprint aims to reverse biological age faster than chronological age
    • •Bryan is 45 chronologically
    • •Different body parts age at different speeds, so biological age is many markers
  2. 2:46 – 7:11

    From Farm Boy to Braintree: Door-to-Door Sales and Payments

    Bryan describes starting at 21 with a goal of making money by 30, then stumbling into payments through commission-only door-to-door credit card sales. He explains how he built Braintree's first product for OpenTable and landed clients like Airbnb, GitHub and Uber.

    • •Plan to make money by 30, then pursue something meaningful for humanity
    • •Took a 100% commission credit card processing sales job after 60 rejected applications
    • •PayPal had stopped innovating, leaving developers without tools they liked
    • •First custom product stored card data for OpenTable
    • •Customers grew to include Airbnb, GitHub and Uber
  3. 7:11 – 10:45

    Sales Philosophy: Honesty, Transparency and the $100 Bill

    Responding to Shaan's question about door-to-door sales, Bryan explains his approach of deconstructing the system rather than using pressure tactics. He describes being honest, transparent and reliable in a distrustful payments industry, and offering a $100 bill for a minute of a merchant's time.

    • •Payments in 2007 was defined by deep distrust and confusing invoices
    • •Three principles: be honest, make differentiation clear, be reliable
    • •The $100 bill offer for one minute of a merchant's time
    • •Skill of system deconstruction and reconfiguration used in every business
  4. 10:45 – 15:28

    Bootstrapping, Zero Pay and Learning from Biographies

    Bryan explains how 11 months of sales commissions funded the first engineers, and how he worked for essentially nothing until age 34. Asked where his thinking came from, he credits reading 100 to 200 biographies that taught him to reject the first narrative offered.

    • •Hired engineers using money earned from door-to-door sales
    • •Portfolio reached about $59,000 a month in residuals after 11 months
    • •Refused to trade time for money and earned nothing until 34
    • •Biographies, such as one on Dietrich Bonhoeffer, offer nuance beyond compressed school history
  5. 15:28 – 21:19

    The Exit and How Wealth Changes Relationships

    Bryan says his target was $7 million at the low end, and he hit $300 million after selling at 34. He describes how wealth changes power dynamics with others, citing a Larry Bird story, and gives three pieces of advice about money.

    • •Target of $7 million as a lifelong annuity, up to 150-300 million to start something
    • •Hit the $300 million mark upon sale
    • •Wealth changes every relationship dynamic, illustrated by the Larry Bird dinner story
    • •Advice: transparency of intent, money's value is time, keep identity separate from money
  6. 21:19 – 26:16

    Where the Money Went: Liquidity, OS Fund and Deep Tech

    Asked what he did with his money, Bryan advises entrepreneurs to value liquidity, then explains his move into science through OS Fund. He describes investing in synthetic biology, DNA storage and nanotech, and why he sold Braintree Venmo for $800 million rather than keep building.

    • •Cash is king for entrepreneurs; illiquidity caused problems
    • •OS Fund aims to build foundational infrastructure for engineering biology
    • •Ginkgo Bioworks, an early investment, worked on the mRNA vaccine
    • •Sold at 34 to start long-horizon deep tech efforts
  7. 26:16 – 34:54

    Kernel: Making Brain Measurement Ubiquitous

    Bryan reviews the fund's results and explains Kernel, a light-based neural imaging helmet meant to standardize brain measurement like wearables do for the body. He discusses ketamine and alcohol studies and why self-awareness is a poor sensor of cognitive decline.

    • •Venture fund has had a high ratio of good to bad investments
    • •Kernel's helmet takes a minute to set up and uses light to measure brain activity
    • •Self-assessment is imprecise; the brain can compensate for impairment until it can't
    • •Engineering standards, like those for traffic lights, depend on measurement; the brain lacks them
  8. 34:54 – 42:55

    Blueprint Origins: Firing Evening Bryan

    Sam raises Blueprint and Bryan's transformation. Bryan describes it as a philosophical endeavor, beginning with his nightly overeating and the decision to 'fire' evening Bryan, and now only eating what his body asks for according to data.

    • •Blueprint presented as a philosophical endeavor for the future of intelligence
    • •Nightly overeating led to the playful decision to revoke evening Bryan's authority
    • •Now eats only what the body requests via data and science
    • •People react with a fear response to giving up control over what they eat
  9. 42:55 – 50:15

    Goal Alignment Within Yourself and Beating the Willpower Game

    Bryan frames Blueprint as achieving goal alignment inside himself, and compares it to AI alignment. Pressed by Shaan on the highest-leverage lessons, he argues that willpower is a losing game against grocery stores and algorithms and that data matters more than debating diets.

    • •Goal alignment within himself as the starting point, ahead of AI alignment
    • •Individuals are outmatched by advertising, sugar and algorithms
    • •Willpower loses roughly half the time or more, so a system should drive what you eat
    • •He compares flying a plane alone to creating a health protocol alone
    • •Data matters more than vegan versus carnivore debates
  10. 50:15 – 56:05

    Bryan's Three Steps to Start and Personal Impact

    After a goofy question about attention from women, Bryan describes the psychological shift Blueprint has brought. Shaan asks for actionable steps, and Bryan offers three: fire the worst version of yourself, commit to one firm boundary such as a calorie budget, then refine details.

    • •He now feels trust and stability toward himself after years of shame
    • •Step one: fire the worst version of yourself
    • •Step two: set a firm commitment, such as his 1,977 calories per day
    • •Step three: refine the details over time
    • •His 17-year-old followed the protocol and modeled out how temptations would feel
  11. 56:05 – 1:00:03

    Leadership Style and the Aging Bank Account

    Sam asks whether Bryan was a good manager, and he says he cared about what employees' significant others thought and about being a high-value person in their lives. He then proposes thinking of 'aging points' like a bank account, noting he currently ages at 0.76 years per year.

    • •Bryan cared about what employees' significant others thought of him
    • •Some employees called him the best boss they ever had
    • •Society tracks money and followers but not speed of aging
    • •He ages at 0.76, about 277 days per 365
    • •Aim is to slow aging and reverse what does occur
  12. 1:00:03 – 1:06:35

    Big Ideas Worth Working On: Cooperation and Goal Alignment

    Shaan asks what ideas Bryan wishes others would pursue. Bryan says he is obsessed with cooperation and goal alignment, applicable to the body, the planet, other people and AI, and he discusses applying it to the brain via Kernel and to mathematical approaches like game theory.

    • •Cooperation as the central question underlying everything on Earth
    • •Blueprint's approach could apply to climate change by measuring the Earth and working within its constraints
    • •The brain's 'diet' of news, social media and environment is unmeasured
    • •Exploring mathematical approaches like game theory with specialists
  13. 1:06:35 – 1:10:08

    Inside Bryan's Home Clinic and Closing

    After Sam's compliments on Bryan's thoughtful answers, Shaan asks about the equipment behind him. Bryan explains the hospital-grade ultrasound machine, the team of sonographers and specialists, and how everything is quantified before the hosts wrap up.

    • •Bought a hospital-grade ultrasound machine for measuring his body
    • •Measurement pyramid: wearables, biofluids, then imaging
    • •Five sonographers, each specializing in different organs
    • •Team of about 25 specialists, with everything quantified
    • •Hosts joke about their own habits and close the show

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