BlackRock CEO Larry Fink told Mike Rowe that the companies in BlackRock's portfolio alone need 300,000 electricians.
Snapshot · The Shawn Ryan Show
BlackRock CEO Larry Fink told Mike Rowe that the companies in BlackRock's portfolio alone need 300,000 electricians.
Where this was said
At 1:06:15 · chapter starts 1:01:30
The stakes of the skills gap escalate dramatically in this chapter. Blueforge Alliance needs 400,000 skilled workers in 8 years for submarine production. Larry Fink says BlackRock portfolio companies alone need 300,000 electricians. A projected $9–10 trillion infrastructure build-out is upon us. China built 1,000 ships last year; the U.S. built 3. Rowe is now embedded with the Department of War on a campaign called Build Freedom and just announced Meta's America's Workplace Academy alongside the company's president — a $150 million, 4-state pilot that pays students to train for 5 weeks and guarantees jobs. Lowe's has $250 million in HVAC training. Home Depot's Pathway to Pro is $100 million. The first time an administration has actually responded to Rowe's message, he says, was when they said: 'You tell us what to do.'
There are 7.5 million open jobs in America right now — most requiring no degree — while 6.9 million able-bodied men aren't working or looking. We have a supply problem, not a jobs problem.
There are currently 7.5 million open jobs in the U.S., most of which don't require a 4-year degree but do require training and willingness to work.
$1.7 trillion in student debt. 7.5 million open jobs. 6.9 million men not working. America keeps lending money it doesn't have to train kids for jobs that don't exist while the jobs that do exist go begging.
Outstanding U.S. student debt stands at $1.7 trillion, much of it held by people who attended university but did not graduate.
Approximately 6.9 million able-bodied men are neither working nor looking for work in the U.S. — a historically unprecedented peacetime figure.
Eliminating shop class didn't just redirect kids away from trades — it made skilled work invisible. A generation grew up walking past where shop class used to be, never once seeing what real work looked like. You can't pursue what you can't see.
Despite strong download numbers, PropGPT could not push past $1,000–$2,000 MRR due to poor product retention.
After their rebuilt app launched, Eyal and Yali hit $30,000 MRR in just 10 weeks.
PropGPT achieves a 48% conversion rate from app download to free trial sign-up.
For every user who downloads PropGPT, Eyal and Yali generate approximately $3.30 in revenue.
Before the rebuild, PropGPT had a 45% download-to-trial rate but only 13% trial-to-paid conversion, revealing a product quality problem.
PropGPT peaked at $40,000 MRR and 2,000 downloads in a single day during the NBA playoffs campaign.
A single viral influencer video with 600,000 views drove PropGPT's ARR from approximately $8K to $38K in about 3 days.
PropGPT runs at roughly 50% profit margins after accounting for marketing, data APIs, hosting, and tooling costs.
PropGPT spends approximately $10,000 per month on influencer marketing.
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