Adam Schafer from the popular podcast Mind Pump has an axe to grind with business masterminds, and in this episode, you’re going to find out why.

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In this podcast, I talk with my friend and fellow podcaster, Adam Schafer, who’s the co-host of the popular podcast Mind Pump.

Unlike most of my interviews, this isn’t a focused discussion so much as a fireside chat about things on our minds, and in particular, on the current trend of business mastermind groups that have been popping up left and right over the last few years like mushrooms and roadkill.

In case you’re not familiar, the pitch for these groups goes like this: pay us $1,000 to $10,000 or more per month and we’ll give you the inside baseball on how to achieve some highly coveted goal or status like becoming an Internet millionaire to superstar “influencer.”

Not only that, you’ll also get exclusive access to our VIP Inner Circle of beautiful people who will deign to shake your hand and pretend to give a shit about you a few times per year at our annual “retreats” that you’ll be invited to attend on your own dime.

Just think of how impressed your 500 followers on Instagram will be when they see you fist bumping with people as rich and amazing as me and my friends and how jealous they’ll be when you tell them about all the 7-figure businesses opportunities being tossed around–opportunities for you to give and risk everything for a chance at absolutely nothing.

So if you’re ready to progress on your personal path of manifesting higher vibrations for a better tomorrow . . . blah blah blah infinite income loop opportunities . . . will that be cash or credit?

Well, I guess I’ve kind of tipped my and Adam’s hand regarding what we think about most masterminds out there, but in this interview, you’ll learn why.

Before we go there, however, we do a bit of meandering on esports and gambling as Adam is interested in and I’m more or less ignorant of both. For instance, I was surprised to learn that in 2018, esports had more viewers in the United States than every traditional sport except the NFL, and major esport events are held in huge stadiums and attract over 100,000 fans to come and watch.

Anyway, I hope you find this discussion interesting.


8:14 – What type of gambling do you like?

8:59 – What does line mean in sports betting?

11:37 – Do you think video game gambling will bring more attention to the gaming industry?

13:07 – Do you think video game gambling is culturally good?

20:17 – What are your thoughts on masterminds?

43:44 – The biggest life lesson Adam learned.

52:00 – Adam’s thoughts on social media and where it’s going.

1:03:40 – Adam’s thoughts on the online coaching industry.

1:19:06 – What are the differences between you and your brother?

1:22:10 – What do you splurge on? Do you collect anything?

Mentioned on the Show:

Deep Work by Cal Newport

Mind Pump’s Website

Adam’s Instagram

What did you think of this episode? Have anything else to share? Let me know in the comments below!