From US Immigrant to Billion-Dollar Entrepreneur: Sam Nazarian's Success Blueprint

This episode features the incredible journey of Sam Nazarian from an immigrant to a billionaire entrepreneur, exploring the challenges and breakthroughs that defined his path.

1. Resilience in Adversity: Sam Nazarian's success story highlights the importance of resilience and adaptation in the face of new cultural and economic environments.
2. Entrepreneurial Spirit: Nazarian emphasizes the value of seizing opportunities and innovating within and beyond one's industry to remain relevant and successful.
3. Impact of Background: His background as an immigrant played a crucial role in shaping his business approach and ethics, emphasizing community and customer satisfaction.
4. Vision for the Future: Sam's forward-thinking approach in business, focusing on trends like digital transformation and customer experience, drives continuous growth.
5. Legacy and Philanthropy: Beyond business success, Nazarian is focused on leaving a legacy that includes philanthropy and impactful entrepreneurial ventures.

1: Early Life and Immigration

Sam Nazarian discusses his early experiences as an immigrant, emphasizing the cultural shifts and his family's influence on his entrepreneurial journey. Sam Nazarian: "When you are an immigrant... you're not accepted, either you accept that or you don't."

2: Building a Business Empire

Nazarian explains how he built his business from the ground up, focusing on the hospitality industry and later expanding into technology and food services. Tony Robbins: "You've become not just a businessman but a tastemaker."

3: Overcoming Challenges

This chapter delves into the strategies Nazarian used to navigate through the 2008 crisis and his philosophy on risk and innovation. Sam Nazarian: "The turbulence is really what defines you."

4: Future Ventures and Philosophies

Discussion on Nazarian's current and future projects, including his vision for luxury lifestyle services and health and wellness technologies. Sam Nazarian: "I'm focusing on feeding the masses with quality and building a platform for a multi generational business."

1. Embrace Change: Adapt and innovate continuously to stay ahead in business.
2. Understand Your Roots: Use your background as a strength to guide your business philosophy and practices.
3. Focus on Customer Experience: Always prioritize customer satisfaction to build loyalty and a strong brand.
4. Plan for Adversity: Have strategies in place to manage crises, ensuring business continuity.
5. Invest in Technology: Leverage new technologies to enhance your business model and improve efficiencies.

In this special 2-PART SERIES, we’re dropping you inside a Tony Robbins Business Mastery seminar. Learn HOW TO BUILD A BRAND, SHOWCASE YOUR X FACTOR, and BRING YOUR UNIQUE PRODUCT or SERVICE to the COMPETITIVE MARKET!
In PART ONE, Tony Robbins sits down for an exclusive one-on-one with SAM NAZARIAN, the visionary entrepreneur behind an empire of hospitality, nightlife, and real estate. Best known for founding SBE Entertainment Group in 2002, Nazarian transformed it into a global powerhouse, boasting an impressive portfolio of hotels, restaurants, nightclubs, and luxury residences. His brainchild, the SLS brand, redefined luxury hospitality with its innovative design and expanded globally under his leadership.

Born into a Persian Jewish family in Tehran, Nazarian's journey from immigrant to business mogul is nothing short of inspiring. Nazarian's remarkable achievements include acquiring iconic properties like the Delano and the Mondrian to merging SBE with hospitality giant AccorHotels, creating SBE | AccorHotels and solidifying his position as a leader in the luxury hospitality sector.

Nazarian’s entrepreneurial spirit and determination is nothing short of inspiring. Don't miss this exclusive opportunity to elevate your business game to new heights and learn how to turn your own dreams into empires!

Business Mastery is the world’s premier business training event designed and hosted by the world’s #1 authority on personal growth, business transformation and peak performance – Tony Robbins. This five-day event equips entrepreneurs, business owners and operators with cutting-edge systems, skills and strategies not found anywhere else to create an invincible advantage against competitors. Business Mastery is designed to help participants thrive in any economic climate as they discover critical factors impacting their businesses currently and design an action plan for the next phase of growth, whether they seek more profits or an exit strategy. This includes marketing tips, maximizing a business’ digital presence to get seen and discovered online and how to anticipate and solve the biggest business problems. During this comprehensive program, participants gain the same proprietary tools and methodologies Tony Robbins has used to make more than 70 businesses profitable. They’ll also unlock exclusive growth tips from industry giants from companies like Airbnb, Orangetheory, Shake Shack, SoulCycle, Warby Parker and more. Now available as an immersive virtual event, Tony Robbins’s Business Mastery is drawing even larger crowds and a new generation of business owners.

People

Sam Nazarian, Tony Robbins

Companies

SBE, Qualcomm

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Sam Nazarian
When you are an immigrant coming to a country and you're not accepted, either you accept that or you don't. And I think for me it was, I really want to change that and I want to be the leader.

Tony Robbins
Three, two, one. Role models. Make it real. The role model is somebody you can relate to in some way. So each year I try to bring in a couple of extraordinary entrepreneurs.

People that have started with nothing and people who built something that's extraordinary. And there are certain qualities that do that, and especially if you've done it over the last 10, 15, 20 years, because we've experienced the 2008, the world financial crisis we've experienced. COVID so if you did well in business during this time, it's a lot different than when everything's just flowing so easily. So I'm going to introduce you to two entrepreneurs that are dear friends of mine who are just brilliant, but they're also super humble. You'd never know who they are.

And that's one of the things I respect about them. But they always over deliver for their clients. And the first person is a gentleman who has been an entrepreneur basically his whole life. He didn't have to be. We'll talk about this a little bit when he comes up here.

But his family comes from Iran. They lost everything. But his father was an amazing entrepreneur as well. And literally his philanthropist, extraordinary investor, business person, self made billionaire, starting over from scratch again here in the United States. Pretty extraordinary.

But rather than have his dad's money or coattails, he wanted to do everything himself. He could have easily, like most kids would do, just, hey, take the ride. But he had his own vision, his own sense of creativity, and he wanted to, well, initially just make some great nightclubs. He was a young man, but gradually he designed lifestyle hotels. And today he's created a whole new technology around food that we're going to talk about in a second.

Ladies and gentlemen, please give my dear friend Sam Nazarian.

Sam, it's so great to have you. Thank you. Thank you. Thank you. Hello, everybody.

Well, listen, we have 4000 entrepreneurs here, 1000 room, 3000 around the world in 76 countries, all here to maximize their ability. There are people who are just beginning their journey. The largest business in the room, 750 million. So there's quite diversity, but every entrepreneur has a journey. And yours is really, really unique and special, as all great ones are.

But yours is especially because you came to this country when you were four, right? Exactly four years old from Iran. Yeah. Tell people a little bit. I'm just curious.

Tell a little bit about how you came here. What's it like to enter a country, live in a hotel, not know the language, not know the culture, and then how the hell do you turn into the guy that creates culture for everybody around the world? I mean, how much. How did that play a role, if at all? But I'm really just curious.

Tell us a little bit about your journey, if you will. It's a great question. I think, first of all, I've been blessed to have the most amazing parents. I think when we left Iran, I was four years old. A revolution had just happened, and we ended up having to kind of start over.

Sam Nazarian
And, you know, the thing that was probably some of my first memories, living in a small hotel. And it wasn't necessarily that we were living in the hotel because that's where we wanted to live. It was just we didn't know if we're gonna go back. It took about like a year to two years to ultimately, you know, for that to set in that we cannot go back there again. For my parents and for my uncle and his family and through that process, I think the part that was the best for me, my first memories was I didn't know any different.

I was four years old. I don't remember what we left. So for us, it was really about the culture, the values. And then I think the complete instinct right away to assimilate, you know, for my family to really be a part of the communities we're in. And right away they threw us in school, and right away was, you know, it was something that for us, you know, I think immigrants really appreciate this country the most.

Tony Robbins
Yes. Because, you know, and, you know, you know, that first generation mentality of urgency. Yes. You know, of accountability. And that's really kind of what stemmed the growth of us into the communities we're in, and ultimately through stabilization into.

Sam Nazarian
Into Los Angeles, where I grew up. I remember you telling me that in the beginning it was a little rough because you guys didn't exactly fit in. Right. A huge number of Iranians came here, and you weren't considered too cool or hip. People were trying to kind of sometimes push you aside or make you wait outside for a restaurant forever.

Tony Robbins
Did that play in a role in how you treat differently? Well, you know, growing up, you know, we were all of a sudden, roughly 2300,000 Iranians came to an LA county. It's actually still the biggest population of Iranians in the world outside of Iran, are in Los Angeles, Los Angeles county. So all of a sudden, it was a shock to the system. And a lot of people, you know, dealt with it differently.

Sam Nazarian
I mean, the people that were absorbing this amazing migration. But it was. It was very, you know, my parents, I'm the youngest of four kids, my brothers and sisters are a lot older than me, and they came as teenagers. So for me, going to school every day, bullied, picked on, luckily, I was bigger than everybody else, so I had a qualifier that I could. There was always kids bigger than you because they're older.

But the thing that kind of always was a constant for us was never really disrespecting the name and the family name and doing things that were really outside of what our parents expected from us. And that kind of kept us all in line. And it kind of really was the DNA of what my parents and my parents ultimately gave to us. It wasn't the wealth or it was just really the DNA of being good people. Yes.

Tony Robbins
Your father came here, he lost everything. He built quite a business in Iran, and I guess he'd gone overseas for a period of time as well, but not the US. And he came here, he lost it all. And then he developed into this amazing investor, philanthropist, businessman, a billionaire, self made billionaire in America from nothing. How did he turn that around?

Sam Nazarian
That's a great. I mean, we could sit here and talk about that. There's so many great stories like that. The american dream. Well, my dad and my uncle, they lost their dad when they were two and four years old in Iran.

We were jewish, and back then, and Iran, Jews lived in certain parts of the city of Tehran. So they were selling light bulbs and cigarettes and trying to support their single mom. And that kind of resonated with them, which transcended to us. And by 1979, they had built a big business in construction and construction equipment and all the trials and tribulations from that to that. But, you know, to me, what was probably the most unbelievably unique thing about my dad and my mom was when we did lose everything, meaning houses, homes, birth certificates, we just had to leave overnight.

Four kids, four suitcases, as they say. They never once at the dining room table said, look backwards. They always were optimistic and look forward, even though it was very difficult to do that. And instinctually, you want to say, why and what we lost? And I think that also kind of resonated with us as far as how we looked at the perception of life.

But he and my uncle ended up borrowing money from some family, some money they had outside of Iran, and they ended up buying a tool and die company, a small one in Pasadena. And in 1985, one of their great friends who was a scientist, now, mind you, they had fourth and fifth grade educations. My dad and uncle, they were worldly, but they didn't have the kind of core engineering DNA. Somebody came to them and said, hey, we have an opportunity to invest in a company. They did.

That company ended up being qualcomm. Qualcomm. Yeah. Wow, that's amazing. Command.

Tony Robbins
That's amazing. So what did, what did you, how did your entrepreneurial spirit, your core values, obviously are affected by your father and your mother. How did it affect the way you looked at entrepreneurship? Well, again, to me, because I was kind of in this little bucket between older siblings and myself, I really was trying to find my own way, and ultimately, sports was a big way of how I expressed myself. I played college basketball.

Sam Nazarian
You know, I was very athletic a long time ago.

Tony Robbins
Mini kids for all that good food, right, exactly. But ultimately, to me, I got exposed. My first business I started was in telecom, ironically, but not qualcomm. We saw this technology called Nextel back in 1999. We ended up becoming the biggest reseller of Nextel in Southern California, and I sold that for $2 million.

You were only 21 when you started that? I started at 21. I sold it at 23, and it was a big deal. I had 75. I had no idea what I was doing.

Sam Nazarian
Started from scratch, but instincts were there as far as seeing an opportunity, filling a void, and getting it to scale, looking back, and that's all. Our businesses subsequently have followed that same kind of core principle. What do you think made you successful at 21, so successful in that company? I think betting on the right idea always helps. And if you have the commitment, and I always say this when I speak at universities or with kids that are trying to mentor, if you're on the right idea and you have the consistency to be curiosity, to be curious, and learn the business as you go, as long as you have enough money to get there, you'll get to altitude.

And, you know, we say that the turbulence is really what defines you. And then once you get to altitude, that's really what kind of gives you the satisfaction of being successful. And ultimately, that's kind of how that business ran. We were at the right time at the right idea, and I was curious enough to understand what the competitors were doing, more importantly, to know why this was a good idea at that time. And you're.

Tony Robbins
I'm fascinated. You know, we've become good friends, and I've got a chance to partner with you, giving me that privilege, which I'm very appreciative of. But I'm the thing I'm most fascinated by, besides your ability to be such a tastemaker and brand creator, is the level of humility you have. And I don't say that lightly. It's just really a beautiful thing.

And yet you also have the drive. They don't always go together. And I'm curious, like, you never want to. You said, I want my own money. I'm not taking a dime from my father.

What gave you that inner drive? I think to me, the important part was how I felt about myself. And also instinctually, I wanted to prove to my dad, okay, got it. So to me, it was coming. At that time, there was such success around us as a family.

Sam Nazarian
I wanted to really kind of showcase that to him, and I was able to do that through many stages of his life and my life with him that I think that's really what it was. And I think ultimately, once I got into the lifestyle business, you know, there was a lot of chips. You know, immigrants also have chips on their shoulder, you know? Yes. And I think, as you said, you know, when you are an immigrant coming to a country and you're not accepted, either you accept that or you don't.

And I think for me, it was, I really want to change that, and I want to be the leader. And so there was a lot of, I think, core DNA in that. Me growing up, being around, you know, people that really enjoyed the ride, enjoyed the hustle, you know, the grind, if you will, of getting to being entrepreneurial from that perspective. So you surrounded yourself with people like. That also, I tried to surround myself again in hospitality.

We were in a hotel company. We weren't a hotel. Family, restaurants, nightclub, zero. It was full stop, especially in a new country and a new custom and a new culture. So I did.

I did. And the other part that I think is very important is if you are the customer for what you're aiming to do, then you can build something for yourself. You know, in that time, I was 22, 23 years old. I was the customer of nightlife. I was the customer of lifestyle.

I did build a hotel brand like sls that didn't exist, and I wanted to go and, you know, so that's. That's what makes it fun as well, right? When you are the customer, I think in all those respects, you know, we went from one nightclub to LA to 45, 50 locations in LA, and we became the largest operator in LA's history since. Well, you were, when you were 28, I think, is when you built your first nightclub. Is that true, Hyde?

Tony Robbins
Was it Hyde? And when you went in West Hollywood, because no one was there, it was like West Hollywood was just a bunch of places that people stored stuff, right? There was certainly not the hip place to go. So when you did that, a, why did you pick that? B, what made you certain you'd be able to succeed in an environment that was not considered hip or cool?

Did you have any concerns? How'd you get over them? Well, I think the first place we did was exactly right. 27, 28. It was part of a bigger idea at the time.

Sam Nazarian
Entertainment and nightlife, to me, seemed like a big void that hotel companies didn't understand. Restaurants were also a big void that hotel companies didn't understand. So I had some exposure in hotels. I was an investor in a couple of hotels. Like, the Viceroy brand was one of the first brands we started, but as a limited partner.

And I said to myself, if one company can actually build a hotel brand that's relevant and restaurants and work with chefs that are about to break, not Nobu, but Katsuya, not Jean George, but this crazy guy in Washington, DC named Jose Andreas that no one had ever heard of. So back to your point of surrounding yourself around great people that were very entrepreneurial, that really also had the same drive and nightlife. To me was this. That was a special sauce. If I can bring energy to a hotel, to a residential project in the form of entertainment, whatever a nightclub or entertainment represent, that could be very interesting.

So when we started SBE in 2002, when I was 26, 27, the first one that. The first vertical that actually launched first was nightclubs. Cause it was easy to do. And that location specifically was a tough location. Gang shootings.

And we kind of turned around. Why did you go there? Because it was jeep or did you go there cause you thought you could turn it around? I wouldn't go there. But we ended up buying the operators.

It was a place that. So we bought it, we shut it down, and we renovated it, and we brought. Luckily, at that time, all the celebrities ended up showing up. So all the a list celebrities wanted a place that was run by an owner, not by promoters. And, you know, all these kind of, you know, all these elements that nightclubs have, we never brought in investors.

It was just me. And we ended up leveraging that into kind of a connectivity to celebrities and then ultimately, our guests. And they trusted us, and they knew they were going to be safe and have a good time. It kind of. So you're 29 now, and you make decision to actually get in the hotel business and you start out in Miami at the Ritz Plaza in Miami beach.

Tony Robbins
Pretty big investment. And I think it was 2014, is that right? 2014, exactly. Well, we bought the hotel in 2004. No, four.

That's what, I'm sorry, four. So you went through 2008 refurbishing that hotel, eventually turning into SLS hotel there in Miami. That was a huge investment. And you went through one of the worst economic times in our lifetimes. How'd you make it through that time?

How'd you manage through it? Must have been intense. You know, 2008 was a real nine and ten were pivotal years for me because either I was going to. Just because I had a hotel in Beverly Hills that just opened SLS Beverly Hills. I had bought the Sahara casino with institutional partners, and we were running that with the intent of turning that to an SLS Las Vegas.

Sam Nazarian
And we had this project that was under construction in Miami beach and all CMBS loans, all with institutional partners. And it was one of those things that either defined you as an individual or you just gave up and threw the keys at the bank and called it a day. And there was a lot of soul searching. I was like, as you said, 29, 30, 31 in that period. And I roughly, I don't know, at that time, four or five, maybe 6000 employees around the country.

And it was tough. But end of the day, we willed it through in the sense that there was no other option. We were going to get this done. We were going to find the guys to take out the old lenders, and we're going to find new private equity partners that were more expensive, but we're going to get the project done, be fiduciaries to your partners. And all those projects did open.

They were successful. And ultimately we built a global business because of, I think, the reputational aspect of not just the brand, but how we dealt with our partners. Let's talk about your secret sauce. You're talking about nightlife, you're talking about lifestyle. I know you've talked about how hospitality is really a business where your job is to make people feel good about themselves, good or bad.

Tony Robbins
That that's a part of what it is. And I know you're famous for, man, from the time somebody goes through those velvet ropes, boom, they're greeted there. So tell us a little about your philosophy. What is your secret sauce? What has allowed you besides, and a little bit about your all in philosophy, which is most people, by the way, have a hotel and then they'll lease out, let's say, you know, the top of that floor for entertainment, for the bar, that type of thing, you came in with a very different approach.

So tell us a little about your secret sauce and what you came across and what became the basis of really SB and so's, I think, for that. We saw that the boutique hotel world in 2002 three was, it was a very interesting lane in the hospitality space. So if you're Hilton or Marriott or Starwood or Hyatt, you wanted nothing to do with boutique hotels because it wasn't scalable. Hilton, they had the luxury hotels, like a Waldorf, they had the convention hotels, they had limited service. When I came up with this idea of style, luxury and service sls, the idea was there's a big gap between that luxury customer and that convention customer that wants experiences.

Sam Nazarian
So the thing that really jumped out at me instinctually, without, again, without any background, was if you can provide all those services, you can create a very interesting mousetrap that not only provides a great experience for your customers, so you're not going to staying at a hotel and the restaurant is somebody else's. And they say, sorry, you can't have a table or a reservation, the bar, the rooftop, as you said, or campuses that need multiple f and b branding. So we committed to the restaurant world, we committed to the entertainment world, and more importantly, we committed to the idea of connectivity, which really differentiated us. And the good thing about these big archaic institutions is they don't know what they don't know. So if you have a conviction that in this particular vertical, that the consumer behavior is changing, demand drivers are changing, really, the emotion of consumers to your product are changing, stick with it, because ultimately, those big institutions, once they realize they need it, they're going to pay a lot of money for it, which is what ended up happening to us in the hotel management company.

Tony Robbins
When you design a hotel restaurant, a club, what's the most important two or three things that you think about in the design, and what do you make sure is part of the experience? Well, as an operator, it's about flow. When you look at a floor plan, it's making sure that you have experiences for all your customers. So that's kind of one part that architects don't understand, designers don't necessarily understand, and institutions don't understand. In the sense of the big hotel companies, that was a very interesting differentiation.

Sam Nazarian
Number two, not too dissimilar with what we're doing now in the food tech business, is creating as many experiences that you can, right? So you can give people the opportunity of, not just for the hotel guests. But for the communities to come and experience your property, which drives awareness, drives organic marketing, and drives revenue and sustainable revenue. I mean, we're in Miami now where it's a cyclical market usually, and the community has to really embrace you for you to kind of have a very good year round operation, not just when it's high season, so to speak. And the process that you started to see, what was the incongruency you saw in other hotels?

Tony Robbins
They did one thing and they left everything else. Entertainment wise, how would you describe what you saw that became kind of the breakthrough, the aha moment for you? Well, I mean, hotel operators want to be hotel operators, right? And they don't want to be involved in food and beverage. They don't want to be involved in entertainment.

Sam Nazarian
Nightlife, rooftop bars, mixology, beach clubs. Entertainment has a lot of categories. And to me, the aha moment was if we can build a company anchored by a great hotel brand and a differentiated hotel brand, which is what we thought luxury lifestyle was, and you do all those services, you can really be a differentiator to your competitors. It's exhausting, as you know better than anybody, my friend, to be relevant in all these businesses. But we ended up having 30 restaurant brands with great chefs, 25 or 30 nightlife entertainment brands.

And a good example is SLS in the Bahamas, where we put 19 of our brands with a 300 room SLS. And that became very successful as well. Wow. Tell us a little bit about branding. You've been genius at creating branding.

Tony Robbins
You hadn't gotten just bought brands, you created brands. How do you decide this person's going to be a brand that you're going to build? Let's say a great chef, for example. You've really built some reputation. Now everybody knows them, but you found them in the early days.

How did that come about? What kind of criteria did you look for if you know, this is some star power here or could be built into star power? Well, I mean, at first I just got lucky in finding some great entrepreneurs who had a lot of ambition. Culinary people generally, they're very focused on their craft, they're very focused on their reputation, how food gets disseminated, food quality. So finding a chef that you say, listen, you know, him or her, we're going to take your idea and take it global.

Sam Nazarian
When you have no credibility, it's hard to do to get them to trust you. So from a culinary perspective, what we focused on was finding great partners, but then having a portfolio of cuisine categories. So brands like Katsuya or the bazaar or Clio or Morimoto or you name it, we had every culinary category. So if we needed a steak concept, we had our Dario chicchini concept, the most famous butcher in the world, if we had a japanese concept. So by having the portfolio, then you become a complete solution in cuisines.

Three meal grab and goes, whatever it is, buffets. So then you can literally be, as I say, a complete solution to your operators, but also to the owners of these hotels. So the owners only have to deal with one operator, which is a very key distinction, but very important distinction as you're competing with other brands, like w edition. They have none of that. Yeah, none of them do.

And, you know, from that perspective. So when you turned, what was it? 41, it seems like, for my maths, right. Is that really when you bought the Morgan hotel group, you added Delano, you added the Mandarin Oriental and so forth, and then a couple of years later, 45, you sold your business for $850 million. You kept your brands, though.

Tony Robbins
Tell us a little about that. It was December 2019, if I remember, if you're telling me correctly. Exactly. Right before COVID he sold all his hotels for almost a billion dollars.

So what, after building all this all around the world, what was the trigger for you to decide to finally sell? Because a lot of people never make that move. You certainly did so well, I think. I mean, I was, as you said, 45. I had two kids and a beautiful wife who I really saw less and less of just because I was traveling about 280 days a year.

Sam Nazarian
I was on the road. We just opened a hotel in Qatar for the Amir. We just opened a hotel in Dubai. We had just opened three hotels in London and Buenos Aires. Anyway, it was a global business, and I was exhausted.

But more importantly, we found the right buyer. We found the right partner. We found somebody. Those same big chains, I told you that they want nothing to do with it now needed this category because the category had become so relevant. And we found the right partner to.

To acquire this business from us. And for me, and to be honest with you, I wasn't as passionate about that because I wasn't the customer anymore. I wasn't the single 25, 26, 27 year old person. I wasn't the person who was going out late night or wanted to try all new places around the world. My life had changed, and it wasn't as fun, you know?

We opened the first sls in 2000. 820. Twelve was the next one, and then twelve and then 15. So one a year, one every two years. Towards the last three years, we were opening nine or ten hotels a year.

So we were by far the biggest in the world in lifestyle, which brings its downside, you know, which you lose that sense of connection and. Yeah, exactly. Became more just doing deals and creating and doing the things that filled you up. Notice again, we talked about the other day about your own stage of life and how. How you evaluate your life and your business differently.

Tony Robbins
Wanting to anticipate that. Right before we talk about c three, I'd like to have a couple of questions from the audience here. How about right back here? Yes, sir. In the way, I'm in the restaurant industry with us over a year ago and.

Oh, emotional. Just hold the mic over here. Awesome. Sounds better. Beautiful.

So I've been looking to find other people that are in the indoor industry because I'm only one year, I'm an infant of my business. And what I really have is the passion, the passion for the food and for the customer experience. I was born in Albania, raised in Greece. So Europe focuses on the experience everywhere you go, restaurants, nightclubs, hotels, you have the top notch hospitality. So when I came here, I didn't see that, and that was the gap that went like, that's what I'm gonna do.

So how do you grow from one to 100, 200 or all the success that you had and keeping the same passion? By the way, I was just in Albania last week with Eddie Rama in Tirana. My wife's Albanian, so some great art, great albanian operators and entrepreneurs. You know, the question isn't necessarily how do you go from one to 102 hundred. I think the question is how do you build a sustainable multiple, a brand that you can get a multiple around?

Sam Nazarian
A lot of my friends who are in the lifestyle restaurant business, they have a lot of restaurants. End of the day, they have to be able to sell it. There has to be a buyer. Right? What we did in our restaurants, we took our restaurants, we tied them to a hotel management company and we sold them for 32 times multiple.

We drag that revenue up. So to you, I would say right now it's about building one location, one brand, and focus on that and be able to expand it. Not to do ten different ideas, but really focus on one. Find the KPI's, the profitability, all the things that go from one, and then start building a team that you can start expanding it, whether it's regionally and it'll get there. Success will find you once you get the right, you know, the right model and the right formula, because it's probably the most difficult business today more than ever, you know, because of labor laws because of.

I mean, all the KPI's are very difficult to execute. So it's getting that right idea and success will come, but, you know, do it in a manner knowing 510, 1520 years from now who's going to buy this thing. And that, to me, is as important as the time and energy you're going to spend over the next 1010 or 15 years being as successful as you want to be. Were you thinking about that when you first started SBE, by the way? Sbe tells people what it stands for.

Tony Robbins
I didn't even know. I'm your buddy, and I didn't know. It's just my nickname, Sammy Boy. And then entertainment and so. But when you first were creating that, were you already thinking that far?

When did you start thinking, 510 years in the future, who might be the right purchaser partner? The idea is, when we built all these restaurants and bars in LA, the idea was building them and then end up putting them in the SLS hotels. Okay? Which is what we ended up doing. I mean, we had 41 hotels by 2019 around the world.

Sam Nazarian
We had another 55 signed that were opening. And we had within those 200 bars and restaurants, of which 90% of them were part of management, were management fees that we were getting. And then, as you know, we built the same amount of residential towers. So we built 41 branded residential towers of SLS branded hotels, or Mondrian or Delano, and we sold about 4 billion of branded residential, which meant we got a fee for it. But, like, when you go to Ritz Carlton, you know, four Seasons, we were by far the largest in life.

They're the only ones really in lifestyle that's scaled that business. But to answer your question, that was. I don't know if it was the idea when I started, but the idea of building these brands and injecting them into our hotels was definitely part of the original idea. And when you sold the business, you kept the brands. How important was that?

Well, I think the f and B brands are the juice, you know, because to me, why? We still have almost 40 restaurants around the world, and it keeps you relevant, it keeps the conversation going as far as your connectivity. And I think that, to me, is no matter what business, now that we know, we have a couple of very interesting businesses that we've been doing for the last four or five years is it really gives you the ability of creating content, because in our world, original content and executing that is the most important part of real estate, all the way down to pretty much anything in the hospitality differentiates one more question from the audience. Yes. Yes.

Sam Mustafa
Sam. Thank you for being here. My name is Sam as well. Sam Mustafa. Very similar background.

I own Charleston hospitality group, and he's saying, focus on one brand. A little bit too late for me. I have seven brands right now trying to scale and trying to figure out, basically how to make a difference. Do I go backward and try to consolidate? Do I sell some of the brands to kind of be able to scale?

I do have a hospitality management. Hospitality. But it seems like it's a lot harder now to try to. What's your most successful brand? Toast all day.

Sam Nazarian
So three meal, all day breakfast. It's actually just one meal. It used to be three meals. Since COVID happened, we decided to do a seven to three model and actually was more profitable. I'm sure you know about first watch, right?

First watch is. Oh, yeah, I sell them every day. Yeah. So to me, it's. You think about it as what brand?

Can you expand? Right. Can you license? Can you get into food service? Can you bring it to hotels?

Because ultimately, that gives you very fast scale, because other people are investing in your brand. Brand to put into their locations the breakfast piece. First watch is a company that went, you know, before it was just IHOP and Denny's. This company came named first Watch, who basically said, we're gonna take it up a notch. We're gonna make a cool.

We're gonna go after all the suburbs, and we're gonna go a place you can have breakfast. A full service concept, but you can have the champagne, you can have brunch. And we're only gonna operate from seven to three. Correct. Seven days a week.

No second shift. No. And they're doing about 3 million on that shift. 3 million a year, and about 500,000 of EbITda. And the company went public.

Actually, I know the CEO very well, and the company went public. I think it's worth a billion and a half dollars now. And they're opening 400 locations a year. So to me, that's a great vertical to be in right now, because very few people can do that, actually. I beat them at their game.

Sam Mustafa
My EBITDA, 34%. So I was able to master it just in one location. Then I start duplicating. So I have now six corporate stores, one seven under construction. But I felt like I was operating at a very small town.

The more exposure I got, the more attacks. So in my mind, it's like, okay, I need to, you know, build something outside this, the state. It seemed like this is in South Carolina, Charleston, yes. So I mean, you start from LA, it's big city, I guess a lot more. You know, people don't really care about who's doing what.

There's a lot of money there in a small town mentality. You know, it's depends on who you talk to. Yeah. The targets become bigger fast. Right.

Sam Nazarian
Listen, it seems like you have a bait, you have an amazing brand already. Thank you. It seems like your KPI's are there, you're expanding it. So I think you've answered your question. The question is how can you get it now into the visibility of some of the big operators that can license your brands and manage it, and more importantly the hotel companies who need exactly that.

I mean, we can talk offline. I tell you, I tell you at this point, go get an advisor, meaning a banker. Have them put into a, you know, kind of put your business and your pipeline into some sort of business plan and then see if you can go out there and raise some, some good minority capital that can either be strategic or really good way of which you can leverage your business value. Because that business, the way you've described it, is worth a lot of money. Thank you.

Sam Mustafa
I started franchise in last year. We went through the FDD and trying to scale. Did you franchise? I wasn't really sure. We have now in our premium fast food business we do franchise.

Tony Robbins
Okay, you have a model. You've talked about access to currency or access to capital. We've had. This team has had hard marks out to speak. During 2008 he was investing 400 million a week in the stock market when everybody was freaking.

He's made so much money on out distressed debt. I'm just curious. I asked him at one time with the group here, I said, you deal with so many companies that go under and make all this money. Distressed debt, what's the number one reason they go under? He said under capitalization, they don't capitalize long enough.

Besides at the right price point. Exactly. Tell me what you mean by that model for you, because it sounds like it would relate to him as well. As I was saying earlier, getting a good idea and getting to the ultimate altitude, you're going to go through turbulence, right? Whether it's a recession, whether it's high interest rates, whatever, it is one bad location, taking 90% of your energy as far as growth.

Sam Nazarian
So having capital that can withstand that is important. But more importantly, having capital that can allow you to take advantage and build your team, build your development team, make sure you don't make any mistakes that are things that there's always curveballs. Make sure you have the bandwidth to have a couple of curveballs come. The restaurant business curveballs will come. And it could be, Melinda, the stuff that's not fun, the technical stuff.

So I think access to capital and having a strategic partner, not just a capital partner, can take your business and hopefully be as big as first watch, if not bigger. Thank you. It will be bigger. I know. I have no doubt.

Tony Robbins
Give it up for him.

One of the things, before we talk about CtRL, one more. To be able to scale and to have that many employees in a business that requires all businesses require, but really requires giving people great experience, what's the secret? Is it the right hiring, right people in the right seats? Is it right find the right manager leaders? What?

I mean, you had how many employees at your peak before you sold? 11,000. In nine countries. In nine countries. So tell us a little bit how you manage that at the level of quality you're able to do.

Because one thing you remember, everyone, a low level customer, you can give them a dollar on a dollar with the spending. You can give them $0.50 worth of value. They're okay. A high end customer, you give them dollars worth of value for a dollar, they're going to be pissed off. They want $3.

They want $5 of the value. So here I've got a customer that requires a whole different level of focus and attention. So how do you get employees to be unified and create a culture where you can sustain that? I mean, you just said it right there. If you have a culture that people want to come work for, and that takes a lot of time.

Sam Nazarian
That takes, in many cases, years of dedication, because word of mouth is the most powerful way in which amazing people come work for you. Like, I want to go work for that company. They're doing something cool. They're taking care of their employees. They're making their employees be part of the story.

I always say, when you come work with us, I want your fingerprints on our brand. When you start at 26, it's a lot different. You can only attract. Your track record is, you know, a couple months, you know, and. But I think ultimately, because we started doing dynamic things, we were able to go into a market and say, sbe is coming here.

And we were blessed that people were tracking us in our business, say, I want to go work with that company, even if it's for a year or two years, to get exposure into what they're doing and then make it. You know, we have so many of my former people that are entrepreneurs now. I'm so proud of them. So the best validation for me is so many of my former team members are now CEO's of companies running big hotel chains, big restaurant companies, which are stories we celebrate in our organization. But listen, when you've made every mistake there is to make, like me, you can look with a very kind of very unique perspective.

But I think ultimately to your question is you're going to hire people. Six out of, hopefully six out of ten of them are going to be good, right? Let's just rule the math rule of thumb in this particular space. But if you can build upon, and the four people that aren't good, if you can understand they're not good, have a very clean and respectful break, and then now you hire another ten and another ten. The foundation of what you've built through time should have a very strong foundation.

And if you can't hire from within, and if you can't grow from within, that tells the brand the story of your culture, the best. And that's where I got into trouble a couple times. Expand from within. And those people weren't ready for the next chapter, but loyalty was there. And I told them, I'm gonna do it.

I did. And so even in those stories, there's some really good learnings as well. So it is 100% about, I think, building an organization like you have built for the last 40 years, that you have to work, you have to be at that particular organization. You have to be there, especially if you're somebody young or if you're somebody who really wants to come monetize the amazing skill sets they've built around that industry. And when you get those six out of ten, which is often a high number for a lot of people, but if the people are coming to because you built the brand, that's more likely those other four.

Tony Robbins
How important, so everybody hears it, how important is to be able to make that transition and get them out soon? I mean, that's, I think doing that as fast as possible and having your HR teams, having your leadership, you know, you have to be able to make that switch fast or else they become toxic, right. They become toxic to a culture and they become toxic to the energy and momentum of a company. You have to do it respectfully. You have to give them a chance.

Sam Nazarian
It's not. There isn't, you know, it depends which role they're in. If they're just not coming to work, that's easy. If they're trying, but don't have the skill sets they represented that's a little more difficult and challenging if they're just good people and you like being around them, but they're just not executing their customers satisfaction. So having KPI's and having it as measured as possible and having communications because, you know, good people want to make an impact.

I always say, if we were talking in front of a new hotel we're opening, I say from the dishwasher, to me, we have one thing in common, time. That's our denominator. Doesn't make a difference who you are. You don't want to come to work and waste your time. I don't want to come to work and waste our time.

Let's make sure that this is an environment that we're respecting. The one thing we all have in common, which is time away from our family, from our kids, from philanthropy, whatever else want to do, let's make this the most impactful time. Some people get it, some people want to get it, and they can't. And some people just can't. So turning that fast is very cool.

Tony Robbins
That can destroy your brand. Yeah. Yeah. In fact, there's a study done by Stanford, most of you know, the Stanford study I told you about that was done on depression. They did one starting this last December.

It's the last largest behavioral study they've ever done, 750 people. And what they wanted to study was the impact of our work on people's level of engagement. Because engagement in a company is directly related to EBITDA, the highest engagement in companies. Salesforce, Apple. People of that nature, at least prior to COVID, have absolutely direct relationship to EBITDA or profitability.

What's interesting, in three years of shutdowns, the people that are engaged, the number dropped the most in history in three years being shut down. People's pieces. And there's three groups. There's engaged, there is disengaged, and disengaged or not engaged. Is that group people that you heard people talk about quiet quitting, where they're just doing the minimum to get by, and then there's actively disengaged.

They're actually in your business, but they're pissed. And they get pissed at you because they're pissed at their own life, or maybe you did something, I don't know. But the bottom line is they're trying to harm your company and they're still in you. The biggest jump was dropped from engagement to massive increase in disengagement. So it took the biggest drop in history, took three years.

And in five days, of the 750 people we're at the six month mark. They normally measure people a month or three month study. They're going to do a year long study. But we increased their engagement by more than 100% across the board, and it's grown every month since they went to the event. We've never talked to them again.

So the tools you've learned here, you want to take home and make sure you create that kind of engagement. Engagement's everything. Let's talk about c three. This is very exciting. You saw an opportunity before COVID Let's talk a little bit.

It's the fastest growing global tech platform in the world. Tell us what c three how came about and what's the intention? What's the vision? I in 2018 2019 was being curious, and I saw brands like Shake Shack and Chipotle and Sweetgreen and all these great premium product. We call it premium QSR, quick service, restaurant, fast casual type category and food.

Sam Nazarian
We were dealing only full service. We had a brand that we had for many years called Umami Burger, which is a very famous burger brand, and we're deciding whether to sell it or not. Anyway, fast forward, fast forward. What we saw was there wasn't one company that had a collection of 2030 unique brands that were chef inspired, entrepreneur inspired, celebrity inspired, creator, youtuber inspired, that fit the full category of what we thought was the next change and revolution in food, which was a premium product. And the consumers were changing, the operators were changing, everybody was really changing to a much better product.

So we decided to create this company in 2018, 2019 that was going to focus on all the relationships that we had built in the full service and then now doing it in a fast food portfolio. And that was kind of the first idea. And then COVID happened. So we were kind of at the right. We sold the hotel company before COVID and we had a food tech company right before COVID too.

So it kind of, you know, it exploded in a good way, because then everybody needed our brands to be able to license them and deliver them during COVID which was very interesting because consumer behavior was really what I was focused on in scale. I said, you know what if Shake Shack today is worth 3 billion, right. And Danny Meyer, who's the founder of that company, was a legend. His restaurant business in New York is not worth 3 billion. Right.

Tony Robbins
He's talked to our group. Yeah. So when you think about getting a good idea and get it to scale fast, but with right branding and right focus, that was the real idea. But what we ended up figuring out during COVID is that we could then, through these brands, license them to airlines, license them to food service companies, license them to everybody who needs new bespoke product. But then we could license them to restaurant chains like TGI, Fridays, IHOP, Denny's, Quiznos, and let them through.

Sam Nazarian
Our brands reinvent themselves to their core customer, not just for delivery, but helping them reshape their menus globally and giving them an instant amount of credibility where they can change their EBITDA multiple and also their franchisees multiple. And that's where the thing kind of really has taken off in the sense of being able to sit with companies and through our brands, be able to have them reposition themselves in a global community. It's that the ability to take on brands. So now you're not getting fast food, you're getting the most exquisite branded chef in the world, but it's been delivered to you. Now, you built your own system for delivery as well, right?

Yeah. So we have our own marketplace, we have our own tech marketplace. So the idea was, how do I deal with a chain that has 1000 stores? How can I license them something that they can make another million dollars a year in revenue by licensing my brand and not spend any money in the kitchen? More importantly, not spend any money on their tech, you know, their point of sale systems and things like that, and make it almost a no brainer and help them really look at the future.

Because, you know, casual dining is a tough category, right? We're talking millions and millions of, you know, casual dining chains that are just, you know, we call them, you don't want to be the next blockbuster, you don't want to be the next Kodak. You have to embrace the digital transformation of your customer. And your customer doesn't necessarily want to come in the store. And if they do, they want something healthy, chef inspired, unique.

You can't culturally do that because your organization may be a little not as innovative as you hope we can be that solution and the business model, which I've shared with you is super exciting because we can. If Burger King does 1,000,002 a year in revenue, an average Burger King in the US, Burger King has a brand which doesn't own any restaurants, they just own their brand. They take about 4%. So you can do the math. It's roughly about 40 or $50,000 in licensing fees.

Each Burger King pays back to RBI, which is a $42 billion public company here in Miami. We are now generating half a million dollars for, let's say, TGIF Fridays. We take 6% right. So for us, we're basically almost reinventing the Burger King model. And we're at 850 locations with that particular partner and no investment needed.

Tony Robbins
Wow. And to us, that's the digital revolution of food. And I think one of the things you guys had earlier today is that Abraham Lincoln, the future is what you make of it, right? And I actually sent that to my branding team. It said, if you want to be the future, you have to create.

Sam Nazarian
In this particular case, you see a white space, you know that they need a digital disruption. They don't know how. People can't really figure out how to make money on going on DoorDash or Uber Eats because they got to pay a commission and they're not really doing anything other than putting their menu up on a big marketing platform. Can you help them redefine themselves? And that's what c three is at its core.

There's a lot of other stuff we do, but that's really the core. And you get to 20, 30,000 locations, cooking your food, your brands, it becomes a very valuable business. Think about what we talked about on day one. What is it all about? Identifying the pattern, seeing the pattern, then being smart enough to use it, and then find a way to create something that fulfills it at a higher level.

Tony Robbins
And think of the difference. He's getting 50% more than Burger King and didn't have to build the chain. He's going all these chains that took forever to build and saying, I'll add a million dollars to TGIF, to every one of your restaurants here. And he's taken the downtime. Right?

Because these are what they call ghost kitchens, the prep kitchens. Right. Maybe you can explain that to people, because I don't. People understand. Yeah.

Sam Nazarian
What we first said is, okay, kitchens in general, and a lot of our restaurants, they have underutilized capacity. Right? If you're, let's say, a steak concept, you're generally 90% of your revenue is dinner. Right? You may have a lunch, business, breakfast, your clothes, but the infrastructure is there.

Your kitchens are there. Your team is there, your general manager. You're paying rent. So the first idea was, how can we look at existing infrastructure and unlock the value of that real estate? By giving you tools that then you can be able to monetize by using that through your supply chain, your vendors.

So that was interesting. That was the first learning. The second one was, what if we licensed your brands? Then you could start putting on your menus for customers to come back in store sales, bring in your customer, which means no delivery fee, no packaging, and I can bring a millennial customer now back into a chain that had probably never been. We have one of our big partners is IHOP.

You know, it's 1600 locations, and, you know, 90% of their revenue is breakfast. And it's really over three days, Friday, Saturday, Sunday. And now IHOP 30, 2015 years ago was a disruptor. I mean, IHOP was the, you know, the breakfast concept of the future. And they're a great company owned by Dine Brands.

Again, another public company. So, you know, we acquired a company who was in 1100 of the locations. Wow. And they were generating, using the same menus, creating a mexican brand for dinner. Cause most of the ihops are open 24 hours.

Tony Robbins
Wow. So it's not as sexy as doing an sls in Dubai. But the impact, because you're really saving the casual dining industry. Yes, you're saving it because end of the day, these big 5000 square foot locations around the country and around the world were built by entrepreneurs that we're franchising this brand. If we don't give them the solution, how to make more money and bring new customers and be relevant.

Sam Nazarian
All the things that are part of business mastery at all levels and Evenai and all these other things that you guys are at the cutting edge of is at its core. How do you bring people back out and into the restaurants? And how do you give them tools? It's like when Target, 20 years ago, did a partnership with a cool designer and everyone was like, why the hell is target doing a deal with this crazy designer, Isaac Mizrahi or Lenny Kravitz? And they realized, the designer realized I may have to justify a little bit of brand equity by going to the masses.

Target realized I need to get. I need to continue my relevancy. Right? Yes. So it's kind of the same model from that perspective.

Tony Robbins
It became the notch up above Walmart by doing that. Exactly. And now Walmart does it. And who's another big. So we have a partnership with, like, Sofia Vergara, who's a great friend, and we're really going after non mexican latin food.

Sam Nazarian
It's called Toma. And Sophia's a 50 50 partner with us, and we're going after the fastest growing demographic in the US, which is non mexican Latinos. They don't have croquetas, they don't have Miami. You got it, la, you got it. But around the world, and Walmart is a big partner of hers.

So we've created a huge relationship through her with Walmart. And that's how we can disrupt that. So there's CBG, there's. I mean, if you like branding and marketing, it's an endless business to be in because you can really make an impact in many different ways. How many can feel how this man thinks the difference?

Tony Robbins
Genshin thinks it's amazing. Sam, you talked about in the beginning, you created what you wanted, right? So you wanted nightclubs and nightlife and then lifestyle. Then you got older, and it's like, didn't appeal to you at the same level. You and I met because of your concept of the estate and what you need and want for yourself.

Today, people like you and I both want for ourselves, our lives, our families. Tell people about what you're creating with the estate. Sure. So in 2018, 2019, I got, as I told you, and I think we shared with you guys, I wasn't as excited about that category. I wasn't the customer.

Sam Nazarian
The customer I was was really now looking for a more unique product, like a luxury hotel brand, a place I can take my family, my kids a little better, service better, you know, brands like four Seasons and one and only and Rosewood and some of these brands that you guys, I'm sure, are familiar with. So selling that business, I knew that I wanted to go this way. I wanted to go feed the masses and democratize food and bring the best chefs to people at the same time. I wanted to kind of really leave my legacy for the next 20 or 30 years, which is around luxury. But it was also the one thing that somebody like me needed.

I needed access to longevity. I needed access to technology. I needed a place that could go and reset at the highest level. I needed a place that I know that I would be exposed to technology that I knew was there and I'd hear from other people, but not a place. I needed a place that I could go, that I could trust and say, you know what?

This has been validated by the best people out there in hormone therapy, really the first inning of this evolution. And it kind of hit me in 2018, 2019 that that is going to be the core differentiation of this luxury platform. And it wasn't long after I read in one night, binge read light force by Tony Robbins. You read that in one night? I listened to it.

I listened to it. I listened to it. I listened to it, like, five, six. You didn't sleep for 20 hours. It was one of those, you guys know when you binge watch Netflix, when I hear a great book in this case, that resonated as a friend and also somebody was just like, so as you know, we called your team and then you and I spoke and said you just built the most amazing playbook of what we're trying to do in the world of luxury.

And so it accomplishes all of our missions. Helping people, more importantly, helping them, helping them in the sense of teaching them something that they didn't even know existed. It's one thing to say, okay, you got to lose weight, you got to do this, you got to do that. But now the world is evolving so fast, I'm not going to take the thunder of you being the leader in sharing this. If you can bring the most influential people around the world who stay at certain types of hotels, get them to be adopters in this format, then they can disseminate and make that mission and impact to help people on all levels.

And that's kind of what the vision of the estate is. There's residential, we have now about eleven locations around the world being built. And the team constantly gets stronger. And it's just amazing having these discussions with people about helping them, giving them access, giving them credibility, and having a brand that undeniably people know they can trust. And it's all about innovation of longevity and prevention, and getting people healthy before they need to go.

Tony Robbins
If you really want to go, get yourself healthy. And most people will go to someplace in Switzerland or Europe, there's a variety of places you can go, but the actual amount of health support you get in that environment is like a spa. It really isn't anything dramatic. And the technology, as most of you know, has changed so, so radically and so quickly. So imagine a place that has this man's taste making that is the greatest quality you can imagine, the greatest food you can imagine, greatest environment you can imagine that you can own a home, or you go there to stay at the hotel, but this is the place that you go once a year, or you go a couple times a year, or you send your employees to.

And if you saw it when Sam came in and showed me his vision of this. Cause he knows every data point you can imagine. So I was blown away by the detail, but also just the pure beauty. You know, when you're at stage of life, when you have money, the next thing you want is quality of life, which is length of life, duration, energy, a vitality, strength. You want to be proud of your body, but where do you go?

And most of it is so outdated. So I'm super excited and so grateful to partner with you on this because we're going to really revolutionize this for people you are by yourself. I'm just bringing the right people to you. But you've got all the right people and all the employees. Plus, you have all these employees from all that you've done in the past that you've reactivated, haven't you?

Sam Nazarian
The one thing you guys will appreciate, and I'm sure, is when this gentleman who sees what, I don't know, how many deals a day, a week, a month, a year, and his team, more importantly, that are under him, who are seeing five x that. But, you know, I remember the first time you and I spoke about this and the fact that not only you got it, which was obviously your vision of wellness and taking care of people, but then you decided to work with me. It was really. That's. There's a couple moments in my life that were transformative of the day.

He said, hey, Sam, I think we should do this together. That was one day that still. That I get goosebumps when I still think about it is. But to do that, you have to be prepared. That's my privilege.

Tony Robbins
Are you kidding me? It's my privilege. It really needs humility and vision and his dedication to investing in people and technologies and just having all these amazing people come around him and feel his energy when he doesn't. Him and his lovely wife, who are committed to making people feel better and making people feel optimistic. And I think we're all.

Sam Nazarian
We're all disciples of you, Tony. Now, it's an obligation that we need to do it in our communities and lives. Yes, you have taught us, and now it's our obligation now to disseminate that globally. And that's what the estate is, really. It's taking your vision and taking it through a very unique platform around the world.

Tony Robbins
Well, I think right now, some of you know about fountain life, where people go, but they don't get to stay. They have to leave their home, be there. And what's invaluable is we find about 14% of the people have a life threatening situation they don't know about. I have a gentleman just sent me a video the other day that I knew his wife. I didn't know him personally, and she dragged him down there and he didn't want to go.

And he said, I've already had my blood test. Anything else? And I found he had kidney cancer. But you catch it at stage one or two. It's very different than stage three or four.

Stage three or four, they talk about 80% of the people die. I prefer 20% live. But that's how they talk about it, but it's 98 to 99.9% if you catch it at stage one or two. It was an outrageous process for him. Lasted 45 minutes, and he's totally well.

But the doctor showed him that he was probably two to four weeks away before it got into his lymph system, and then he would have died. And you see this over and over again. Then there's another 55, 60% of people, guys like us, that push themselves like crazy, that need to rejuvenate, and they've got something that could explode or transform their energy or their health or God and lose weight, and people just don't know about it. So the idea that I don't have to go away, that this becomes my home, my place, that my employees go, my family can go and have your level of quality, your level of vision, it's really, really exciting. Really exciting.

Sam Nazarian
Those are the two things that we're spending most of our time on, feeding the masses with quality and then, obviously, building a platform that we think is a multi generational business with so many different verticals of just making people feel better. Yeah. Sam, you're incredible. Thank you. Thank you very much, Sam Nazarian.

Tony Robbins
The Tony Robbins podcast is inspired and directed by Tony Robbins and his teachings. It's produced by us team Tony, copyright Robbins Research International.

Sam Mustafa
It's produced by us team Tony, copyright Robbins Research International.