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Patrick Bet-David Podcast Episode 46. Download the podcasts on all your favorite platforms https://bit.ly/3sFAW4N
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The Bet-David Podcast discusses current events, trending topics, and politics as they relate to life and business. Stay tuned for new episodes and guest appearances.
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That's actually, I think, so I think that the fact that you didn't wear a belt today, I think the public needs to know.
Okay, I was a show off.
By the way, this is episode number 46 with Adam Sosting.
Matt's story here, not my belt.
Sopho's in the house, Tapo, the frog.
But just so everybody knows, Adam didn't wear a belt today because it was fashionable and he thought he had gained weight, but you realize you haven't gained weight, right?
And then we found out the reason why people thought only poor people wore belts back in the days Matt educated us was because why?
Because if you had to wear a belt, it means you couldn't afford custom tailored clothes.
Yeah, that's where I'm at right now.
Here's the question.
Here's the question, though.
Then why would Ferragamo sell $600 belts, $500 belts?
I don't know the history behind it, but listen, congratulations to you for not being able to do that.
No belt.
No belt.
Only you are buying $600 Ferragamo belts.
I don't think I'm the only one.
I think Ferragamo is a multi-billion dollar company, and I think they're doing okay.
Would you buy a $600 belt?
Would you?
Putting that out there in the atmosphere.
I mean, I got that.
Oh, is that a Gucci, Gucci, Gucci?
This guy's got like the Rick Flyer Championship belt going on.
Oh, Jesus.
He's doing Gucci.
He's wearing one.
He's got a $600 Gucci belt on.
I'm struggling to put a belt on myself.
You're a Ferragamo.
Yes.
So yesterday, Matt and I stayed up till, I don't know, 1 o'clock.
We were at the house.
We call that Oak Dark 30.
Yes, and Mario was there, and Mario was hanging in there because Mario, Mario's got a time.
He's got a limit, but he was hanging in there.
You can tell.
I've seen Mario fall out, you know, knock out many times.
But we ended up yesterday.
It was a pretty crazy day.
You know, we're up 160% March over March.
So it's pretty awesome to see that taking place.
By the way, I learned something about Florida tax yesterday.
Why Florida doesn't charge state taxes and the way they do it?
I don't even know if you knew about it.
We'll cover that here in a minute, but a quick shout out, Moral Kashishin, Beckian.
Happy birthday to you.
Happy birthday to you.
Yes.
She turns 23.
Nice.
Just so you know, I met Morale when she was a baby.
And to me, she's still the same age.
Pat, you don't get my age right.
I said, you're still the same to me.
You look the same.
Michael Jones.
It's her birthday today, as well as Leo Martinez, as well as Kyle Mason.
All birthdays.
Happy birthday to you.
Yes, our people.
But here's the crazy part.
So people are asking a question saying, Pat, did you really move to Florida?
Right.
And if you've done it, because I wrote a letter years ago saying, dear California, I'm leaving you.
It was a love letter upstairs.
There was a love letter I wrote to Taliban.
Everybody should check that out.
It was a breakup letter.
Breakup letter I wrote to California.
And a breakdown.
Yes.
And she still calls.
She still writes.
She still pursues you.
We still have a good person.
I miss you, baby.
Yes.
We still have a conversation.
You go, you visit, you slide in, you say what's up, and then you're out.
Late night text.
Yeah, so, but Texas is not really a breakup.
Texas is like, we're moving because Texas and Florida have a lot in common.
But I wanted to find out what Florida does with taxes because Texas, they said, oh, you go to Texas.
Let me tell you, the property taxes are really high.
Guess what?
They are higher than California.
There's no question about it.
If you own a house in California versus Texas, property taxes are much higher than it is in California.
But Florida is not necessarily higher property taxes than Texas.
So how do they make their money?
How does Florida make their money?
Did you know Florida gets 140 million tourists every year, 2019?
Forget about 2020, obviously things changed.
But prior to that, it's $140 per year.
You got Disney World, you got Universal Studios, you got Miami, you got so many different South Beach, you got the best libraries in South Beach.
It's a lot of different libraries.
The best libraries.
Best libraries, right?
Many reasons why people come to Florida, right?
For the library.
Did you know Florida has a 7% sales tax, but Florida has a 5% tourist tax?
They call it the Florida tourist tax, which means if you're a tourist and you come here, whatever you do, and they define tourists as less than six months.
If you live here less than six months, you pay that additional 5%.
So that additional 5%, they tax tourists, and they allow the folks who live here to not pay taxes.
So they collect taxes from sales.
They collect taxes from tourists, but they don't collect taxes, state taxes from folks who live here.
Think about that.
What a way to, it's not necessarily punishing.
You're taxing those who want to come here for vacation.
You're coming here.
But if you're living here, they're like, look, no state taxes.
We'll get the money from somewhere else.
Great, brilliant idea.
If you ever want to run a country, something to be thinking about.
Yeah, I'm thinking about running away.
Yeah, if you ever do.
Give me the Philippines.
I team up with Sap.
I can only see you.
It's like the beltless president running a country, you know, Adam Beltless Sasnick.
Free belts for everybody.
This is what's going on here.
You know, let's all talk about the trillions and trillions of dollars the government spending in the federal deficit.
The budget for Florida is $90.98 billion.
Pretty interesting.
$90.98 billion.
To run the state.
And the general revenue portion is $33.93 per Governor Ron DeSantis.
And I think they're the number four state when it comes down to GDP.
I think number one, number two, obviously California, New York.
You got California, New York, Texas.
I think Texas is actually number two.
And then you got Florida.
So it is one of the top four that you're looking at, what they're doing.
But back to your, I have one question.
Tourist tax.
Yeah, because I'm familiar with that, obviously, the tourist tax and all that.
But where does that 5% come from?
Taxing the tourists.
Where does that come through?
Sales, sales tax?
If you're staying at a hotel, you show your ID, it says this, okay, Tori.
The money is going to come from somewhere.
Obviously, you go into the market.
Public doesn't say, oh, we're going to pay 5% because you're not from here.
But they're collecting it from somewhere.
And I think it's a brilliant idea.
It's something that California and others can learn from.
For sure.
If you think about it, California also gets a lot of what?
Tourists.
A lot of tourists.
Not so much Texas, though.
Not as much as California.
Shame for saying that.
I'm sorry.
I'm sorry, my friends in Texas.
Hey, you know what?
Nobody wakes up and says, I need to go to San Antonio.
How many people you know who grew up in South Beach, partied in South Beach, have your reputation in South Beach?
Yeah.
Bodega, all these other stuff that they have.
How many people you know that went and lived in Addis for a year after doing that?
Oh, just one, baby.
There's one guy.
There's one guy.
Probably the only guy in the U.S. I left my heart in Addis.
Shout out to the bottom.
Texas doesn't get tourists.
They get transplants.
Yeah.
But the point is, if you really think about it, what if California said tourist tax is 10%?
Would people pay it?
What if they said tourist tax is 20%?
They would still go.
They would still pay it.
Yes, yes.
Because they want to visit.
No one can.
You're going on vacation.
Actually, think about this idea.
What if California ran a tourist tax of 20%?
So let's just say California wants to compete, right?
People are like, oh, Pat wants California to compete.
What if California decided to compete with other states and said, hey, new governor runs in the state of California, okay?
If a guy is listening to this, or if you know somebody that's running for governor, send this part to them.
Let them think about it.
And if you hear it, you know where you heard it first.
What if the governor of California says, hey, right now state taxes are 13.3, right?
Go through the whole state taxes that we, because you know, Biden, we're going to get into Biden's tax plan.
He just announced that he's raising the taxes, you know, highest tax hike since 1993.
The new economic tax, you know, he's going to, we'll talk, matter of fact, we'll get into it right after, right off the bat.
What if a governor of California says, we got a 13.3 taxes right now, but we got, Mari, can you find out how many tourists go to California in 2019?
Okay, can somebody find out what that number is?
What's interesting here, too, as well as the state of Florida had a 3.8 billion in reserves before the pandemic.
Pandemic brought a 2.7 billion deficit, so they had more than enough to deal with the coronavirus.
Check this out.
That's not the number, Mario.
There's a number here that says California expected to see 279 tourists, 279 million tourists in 2019.
Florida's 140.
California is 2x that, 280.
Insane, right?
Think about tourism.
So if you got 280 million people that go to California for tours, what if you say moving forward, we eliminate state taxes in California?
13.3 is gone.
However, any tourists coming here, 20% taxes.
So if a room rate at the hotel is 500 bucks, guess what you're paying?
$600.
If you're going in, you know, you're getting in, you know, an Uber and Uber says you're registered in a different state, but you get in California, it's a $20 ride?
No, it's a $24 ride.
What if that 20%, you know how Europe has that VAT, you know?
VAT tax.
VAT tax.
Okay.
It's like it's a consumption tax.
What if they offered that 20% tax to tourists?
What do you think that number would drop?
Go 280 and actually think about it.
I want you to actually think about it, man.
Both of you guys.
Say California announced officially 2023, any tourist that comes to the state of California, taxes are 20% for you, for tourists.
Anyone that lives here for less than six months.
How much do you think that 280 million tourists would drop?
From what?
It's going to be a drop, but what do you think that drop is?
Yeah, I mean, 20% is aggressive.
I mean, even if it were 10%.
I want to be aggressive.
I want to be aggressive.
I'll say 20%.
I don't think much at all.
What do you think that 280 million drops?
10%, 20%.
That's nothing.
That's nothing.
I don't think people are like, I could go on vacation.
Let's say 20%.
I would call it the 2020 plan.
You know what the 2020 plan is?
We're going to charge 20% for tourists, and we're going to lose 20% of the 280 million coming.
It's okay.
That 20% is going to generate revenue.
And guess what that's going to do?
If I eliminate state taxes in California, now we're recruiting everybody back.
Think about what that could mean.
But for that to be taking place, you know, it's a little scary for some of the government officials working there.
It's pretty dramatic of an idea.
But if you did something like that and tourists are still going to go to LA, they're still going to go to see the Hollywood.
Because what is the average travel?
If you travel somewhere, how much money do we spend?
Say a husband and wife, two kids.
A couple grand, easy.
If you're going to go to California from UK, okay, you're going to spend what, $10,000?
For just airfare and food and the whole thing.
Okay.
Let's just say it's going to be $12,000.
Is that going to change your mind of going to?
$12,000?
Instead of $10,000.
From UK, I'm just calculating flights and everything.
What if it's $12,000?
Still going, still going.
Do you think the person's going to say, oh, because of $12,000, we're not going?
I don't think so.
I think they would still make the money.
And I think California ought to really consider this.
Forget about 5%.
Go to 20% and eliminate that 13.3%.
Anyways, I woke up this morning.
I said, California, you know, you guys keep thinking like I'm hating on California.
There's an idea for you.
Go pitch it to a potential future governor or you go run in the state of California as a governor and eliminate that state taxes.
It will be very, very hard to compete with the state of California.
Because if they eliminate the state taxes, 13.3.
So the 20% you lose here on the tourists, you gain in business owners moving to you.
Forget about losing the tourists.
You get jobs created.
You get people saying, why the hell would I go anywhere?
Then you have to put a limit on who can come to the state of California.
You got all the resources.
But unfortunately, politics gets in the way for something like this to take place.
This is why I'm nominating Adam to run for governor in the state of California.
And I'm your campaign manager.
Thank you.
With you by my side, I think we can win this.
Three belts for everyone.
No belt for you.
Exactly.
So you're basically saying, Florida, California, take a page out of Florida's playbook, do something different.
Double down.
But do something different and double down.
Instead of 7%, 5%, go all in, 20%.
Screw it.
Let's do it.
By the way, if you're listening to this, how many guys say it's an interesting idea?
I like it.
Put thumbs up if you think right now we have 130 thumbs up, one thumbs down.
If you think it's a good idea, put thumbs up.
If you think it's a terrible idea, put thumbs down.
I'm curious.
And then explain why you think it's a terrible idea and you would not entertain it.
Yeah, because don't come to California.
So you have two choices.
Okay.
If you're governor of a state, California, which one do you prefer?
Tourists or small businesses coming to you and staying with you.
Small business is coming to you.
So who do you want to please more?
Who do you want to please more?
The job creators.
Your people.
People that want you to, you know, that are there.
Hey, you're paying 20%.
You are paying 20%, Taurus.
You want to come visit us.
This is like it's my house.
You want to come visit?
Come on down.
It's all good.
But you're a visitor.
But I want to make sure the people that live in that house are protected.
I want to make sure those guys have the biggest upside.
I want to make sure people want to come create for my economy.
I think that's I would be very, this is one of those videos that if we put this on Vietnam short clips, I want to hear commentary and I want to hear you tear up my idea.
Just destroy the idea.
I want to read every single article.
I'm going to every single response and I'm going to comment to every one of those that gives their explanation in the short clips.
When it comes out, I want to hear your argument to say that's a terrible idea.
What do you think the blowback is in the bureaucracy in terms of politics?
Why would they push back on something like that?
What would they say?
What would these special interests say?
Why would not that be a good idea?
So this is what it's going to come down to, if you really think about it.
Like yesterday, I spoke to the former, this guy said the Den of Nerds Live, 10 bucks, incredible idea, could save the state.
Okay.
So yesterday I was speaking with Jimmy Petronas.
Jimmy Petronas, CFO, the CFO of the state of Florida.
He follows Vietnam.
He knows the content.
And we're trying to figure something out because we'd like to have him.
We'd like to have Governor DeSantis on to talk about what Florida does and what part of it is transferable to other states.
So you ask the question, what would prevent the politicians to want to do that?
Sure, right?
Okay.
Well, for me, it works like this.
Say I'm sitting with my board and the board comes up and says, you know, the sales leaders come up and say, hey, Pat, what about if we do such and such idea on the comp okay?
What's the first thing I say?
First thing we do is, let's run the data and see what it looks like.
Let's run some, you know, beta tests and see what it would look like.
Let's go back six months.
Okay.
And we run it.
Okay, we run it.
What would have changed?
Like, you know, we're up 160% for the month.
Like, this is a record-breaking.
These guys are not 160%.
They're 200-something plus percent on what these guys are doing.
Money smart movement is all.
They're going to be $5 to $10 million earners in no time the way they're going.
I mean, it's not even funny.
Yeah.
So, so, but imagine I go to the board.
I say, guys, I think we need to do XYZ.
What are you talking about?
Yes.
But then I show the chart and I say, boom, boom, boom.
If you did this, you did this.
Oh, this, you would do this.
If they ran numbers and presented it with the data to say, here's how much money you pulled in from your 13.3%.
Here's your 279 million.
These 279 million go to Disney World.
We can collect a 20% tax from there.
Disney's not paying for it.
The people that are going there are paying for it.
So if Disney's tickets are $300 a pop, all they have to pay is what?
$360.
That's an additional 20%.
You have to pay for it.
You come in here.
Nobody told you to come here.
Disneyland, Disney World.
Pick one of the two.
And at the same time, all of these Florida, Nevada, Texas, Tennessee, all of these places that are recruiting our small business owners away, we shut those people up and they stay put.
And not only that, guess what we do now?
You get on the hall, you get on the radio, you get on the video, you play offense, and you say, hey, if you left us, guess what?
Hey, hey, if you did this, now you're presenting.
Now, this doesn't mean people are going to move back because if you're already in the state of Texas, you're paying 0% state taxes or Florida, you're not really going to move back.
Like, listen, I hope you realize I'm moving my dad here.
I'm moving my sister.
This is not a message.
I want her to move back to California.
Zero.
We can turn off our ringtone.
Someone's ringtone's going off if we can turn it off.
So, Mario, is it yours?
Just tell your girl you'll call her back afterwards.
Jesus, Mario.
Mario and his girls are.
Tell her, relax, dude.
Mary, please, that's enough.
Mary, there's Mary.
We've told Mary, leave it alone from 8:30 to 10:30.
But here's Aisha.
Here's Aisha.
You are the girl that I never had.
And I want to get you back.
By the way, it's California Club.
Just do you know that song, Aisha?
Yesterday.
We were doing things.
I was talking to this girl, Autumn Moore.
And I say, Autumn, you know who you remind me of what?
What if Macarena?
And I say, she says, I have no idea what that song is.
If you know that.
You didn't know the freaking Macarena.
Big shout out to Autumn Moore and Musk Girls.
There's Gen Z's out there.
They don't know about Aisha.
They don't know about Poison Velvet DeVoe.
You were saying something.
I was just saying, is this something that you just magically woke up and I got an idea?
Or have you been ruminating about this for a little while?
24 hours.
I've been thinking about it all day.
Last night I was telling you guys about it at midnight.
I'm like, what a brilliant.
California is one move away.
One move away.
If the right governor goes there who knows how to sell this, because this has to be sold.
This cannot be like, I think we can have a great idea if we charge tourists 20%.
Like, you can't say that Ross Trow.
Who is that?
Whoever it is.
Like the boring politicians cannot sell this idea.
It has to be somebody that can sell.
This is a ridiculous revolutionary idea that could save the state.
It's that big of an idea.
Hopefully someone like Chamoth, who's running for, I believe, governor, sees something like this and it ends up on his radar.
I think the point that you're making is California needs to shake things up.
The status quo, people are moving.
They're getting the hell out of there.
They're recalling Governor Gavin Newsome.
You know, it's just not a tax-friendly state.
They need to do something different and take a playbook out of Florida.
Or who knows?
Will California be the number one state in the country moving forward?
Yeah, no, I think it's such a revolutionary idea.
But if the math backs up my argument, it's game over.
If math backs up the argument, it's game over.
You dad to be the driver.
Let's get some mathematicians on.
It would be game over.
You know who would follow suit right afterwards?
Guess who would do it next?
New York.
New York.
And Illinois.
Guess who would do it next?
Illinois.
You would have all those three states do it.
Okay.
Because all those three states have a lot of what?
Tourists.
Yep.
All those three states.
Can we find out what who's that?
It's on the iPad.
It's something.
It's a Mac, Mac, something that's making that kind of a noise.
Whose is that?
Is that yours?
No, it's not.
I'm on silent mode.
So I'm curious now to find out what's New York's 2019 tourism.
Guys, everybody check it as if it's.
I'll do Illinois.
You do Illinois.
I'm going to do tour.
I'm going to do New York.
2019, New York, tourists.
New York State Tourism Statistic 2019.
What do we have?
265.5 million.
And it was 280 to 280.
California.
So New York and California next.
Same thing.
They could do the same thing, generating an economic impact of $118 billion.
Illinois, 120 million.
Wow, 120 million Florida.
That's one flood.
Florida?
Yeah, but yeah, but still in Chicago, that's a price.
That's ridiculous.
So you got 280 million California.
You got 265.5 million New York.
You got 140 Florida.
You got 120 New York.
Buddy, I mean, it's a playbook that could be used.
You want, by the way, you know who wouldn't like this?
Who wouldn't like this?
China wouldn't like this.
Because they're getting wet.
Taxes coming in.
China wouldn't like this.
It would actually unify the country.
It would unify the country because you're putting everybody, like actually be the devil's advocate.
Give me the argument.
Like what part of it you're like, well, it's not going to work here.
Well, what of this argument?
What would you say to it?
Yeah, I mean, coming in, do you have choices, countries, let alone states?
You know, we're paying them a little bit more of a premium.
I would think that would also happen to the small businesses too as well.
So not only the individuals, I would also say the, for lack of a better term, whatever, tariffs or income taxes or state sales taxes have to come through the Chinese tourism would come in.
And being say, you know what?
We got England to go to, Australia to go to, whomever.
They would be pinging that off the different ideas of where to go to.
But what's the devil?
Yeah, I'm trying to come up with the devil's advocate.
Like, for instance, I don't know many people that say, well, I was going to go to Florida.
I was going to go to Disney World, but that 5% tax, I don't never heard it.
So, you know, the more we're going down this path, essentially what you're saying is help the small businesses, help states recruit more businesses, and have the freaking tourists pay the tax.
The one thing that I guess, you know, devil's advocate, we're thinking international tourism.
That's what we're thinking.
International tourism.
Sure.
But, you know, state-to-state tourism, I guess, is where it gets a little slippery because, you know, you're taxing your fellow citizens.
If you're talking about nationalism and, you know, bringing everybody together and coalescing, you're still going to be taxing fellow Americans visiting your state.
Yeah, but guess what?
What I'm trying to tell you is I love my state.
Gotcha.
You're going through pride.
I'm protecting my constituents.
That's your job when you get elected.
Touche as the governor.
Yeah, as the governor, I'm your advisor.
I'm advising you as a future governor.
Correct.
I'm your advisor.
Your job is to protect them.
Who wouldn't like it in the state of Florida?
This, you're going to get pushback from who?
Disney?
Universal Studios.
Some of the people, some of the tourist businesses in South Florida may not agree with that.
They're going to be like, hey, you're going to, Keys may say, you're hurting us, right?
But a lot of people that go to Keys as well.
Why wouldn't businesses in Florida oppose this?
Why wouldn't they?
You're saying oppose other states doing it?
No, no.
Florida would oppose if you raise the tourist tax to 20%.
Florida would oppose it.
Disney would oppose it.
Universal Studios would oppose it.
So anybody that relies, like when you go to Croatia, they get 4 million tourists every year.
This small island called Dubrovnik.
Yeah, beautiful island.
Beautiful island there.
The only revenue is tourism.
We were in Hawaii.
How many times do people say thank you?
Thank you.
Thank you for opening us up.
The photographers, the taxi, the restaurants.
People think you were Hawaiian, by the way.
They'd say, what's up, Uso?
And that's like the homie.
That's homie.
That's right.
Well, your son looks Hawaiian.
That's right.
Shout out to the Rock's younger cousin.
Based on what Pipple said, right?
Because he looks like Rock's younger cousin.
But the point is, Hawaii, same thing.
They rely on tourism.
So who would oppose it?
Those small businesses who rely on tourism.
But would they benefit long term from small business owners moving there?
For sure.
I think someone's going to take a hit no matter what.
The hit's going to be put on the tourists.
It's going to be put on the tourist business locally.
But long term, that state's going to get a lot of benefits of people staying there and commerce and business not leaving.
I can't believe we spent 20 minutes talking about California talents.
Allow me to just give one sort of epiphany that I had since doing this podcast.
One thing you made me full-on understand is that governors need to be recruiters to their state.
There's no question.
But you can't just sit back.
We're running our state.
Your job is to bring in jobs, to bring in talent, or you're going to fall by the wayside.
And that's something that I think Florida's doing a good job of.
Obviously, you got recruited by Rick Perry.
Come on down to a Rangers game.
I couldn't believe how good of a recruiter.
He can't name the three different parts of the economy that he'd like to change, but he could recruit your ass out of California.
And right now, if you look at the guy that's the leading candidate to be the president of 2024 behind Trump.
Don't say it.
Behind Trump.
Don't say it.
Behind Trump.
Are you about to say DeSantis?
DeSantis is the leading candidate.
According to CPAC?
Not according to CPAC.
According to data.
More than Pemps?
BLM trusted Florida more than any other state.
NBA trusted Florida.
Well, they're the only state that was open.
But that's why you come in here then and shut down the NBA.
The NBA needs to thank DeSantis because you chose to do your NBA playoffs in Florida.
And the Super Bowl.
And the Super Bowl.
And his policies have garnered him the conversation of being considered 2024 candidate for presidency.
They're also, I mean, look, I'm getting.
No, no.
Guilty is charged.
Florida is getting a lot of hate right now during spring break.
Like, it's a full-on zoo going on in Florida.
He partied hardcore Thursday, Friday, Saturday, Sunday.
And you decided to make Wednesday, ladies and gentlemen.
Let me tell you something.
I'm at the point where I can go hard one night, Friday night.
I'm done for the rest of the week.
I used to go Friday, Saturday, run it back on Sunday.
I'm at the point where I'm like, I'll go hard on a Friday.
IG stories disappear in 24 hours.
You're very fortunate with that.
Yeah, if you see Adam not posting IG stories for two days, he's been partying half a day.
Yeah, yeah.
So he's a child.
Touche.
Zero Documentary.
Guilty is charged.
He's recovering.
I think Ron DeSantis needs a nickname.
I mean, Ron DeSantis.
Instead of Ron DMC, the magnet DeSantis.
I think the magnet attracts Sanskrit to Florida.
What about like Ron GDP instead of CMC?
Ron GDP, Ron DN.
Okay.
Okay.
I'm going somewhere.
It says something.
Coming from Illinois and both going to Texas and Florida has been a completely different world for me coming from Illinois.
When I got COVID, right away, I found a 15-minute rapid test all within a five, 10 mile radius, found three of them.
In Illinois, it's a doctor's appointment.
And then it's a lot of people.
So you're saying you were in Texas.
I'll get to the camera.
He got COVID in Texas.
In Texas.
But right away, I think a lot of us did.
I think we're all Texas is guilty for that.
And then coming to Florida, you know, the businesses are open.
People are inside their restaurants.
I'm actually shocked.
By the way, Chicago, I know it's 33 and snowing out there right now.
It's 80 and balmy out here in Florida.
Look at recruiting.
Recruiting.
See, it's easy to recruit.
We're constantly recruiting.
Easy to recruit.
Great recruiters.
15th move.
15th move.
But five years, he'll be here.
Yeah.
We're making $10 million a year.
I'll be buying a house in your neighborhood at that point.
Well, we'll be making some exciting announcements here very soon.
We'll be making some exciting announcements.
Oh, really?
No, no, no.
Oh, really?
No, not him.
But even what he said, he said, other things.
He said, VPs.
Yeah, he said the fact that COVID, all that stuff.
And within 15 minutes, he finds three places to go do it.
I call my guys in California.
I call Ricky.
I said, Ricky, go get tested.
Ricky had to drive from Bakersfield to Glendale to get tested.
What, on a two-hour drive?
What is that?
It's not even with from Bakersfield to Glendale, there's a bunch of cities you go through that are good-sized cities.
None of them, you mean to tell me none of them have been freaking possible, right?
But you don't have to be a third world country.
Because you've only lived your plus, you've lived in other places.
But your experiences are in states ran by Abbott and DeSantis.
So for you, your leaders have been DeSantis and Abbott.
That's all you know.
You don't know Newsome.
I don't know Newsome like that.
No, I don't have hate for Newsome like some people I've hate for.
Well, you've never lived in California.
You ought to live in California too.
Well, Newsom's doing a great job, and obviously our good friend Andrew Cromo is doing a great job.
People are very excited about him these days.
I say we have a camera follow you.
Yeah.
And you go to live in California for one year.
And you tell us how you feel about it.
Yeah.
I'm sure my attitude would change about everything.
You think so?
I mean, a lot of people, I feel like.
They're kind of recruiting you to be that governor because you go there and all these policies are going to all of a sudden be, that could work.
This is why Sasnick showed up.
The tax changed 20% tourism tax.
Wonder where he got it from.
Yeah.
So tell us about the biggest difference between the tax the tourist.
Tax the tourists.
That's a great campaign.
Tax TTT.
Tax the tourists.
TTT.
What's going on in Illinois, in Chicago right now?
I mean, you kind of brushed over it a little bit, but I mean, you've been in Texas.
Now you've been in Florida for a few days and you spent some time in Florida.
Biggest differences in your mind politically, socially, economically?
What have you seen?
Well, first of all, Illinois, we've got four governors that's been to prison.
That's number one.
It's a brown envelope type of state.
Four governors in the past, how long?
Last 20 years.
Really?
There was a name?
Blagovich.
Blagoevich.
What is this?
Freaking Detroit?
And then, you know, you got pretty much Chicago.
Were they all Democrat?
Or are there some Republicans?
Because Blagoyevich was a Republican.
So equal opportunity criminals.
And you pretty much have one county, one city pretty much running the whole entire state.
That's Chicago.
Iraq, Cook County.
Cook County is Chicago.
Exactly.
Cook County in Chicago.
But, you know, there's, you know, you've got Governor Pritzker right now, who is, what, the 53 richest man in the world.
Pritzker family.
Pritzker family, of course.
Yep.
So he's running it.
He's a big boy, too.
You know, when he was running for governor, we went to meet him.
First question I asked him, how do we fix the pension plan?
The pension programs.
And no real quick answer there, no real plan.
I was very happy on election nights.
If there's one thing to be happy on election night, it was that he was attempting to put a progressive income tax in Illinois, not just a flat tax.
And they got voted out.
He put $53 million of his own money to campaign for progressive income tax.
His biggest donor to that whole campaign was $1,500.
So not a lot of people believed in the progressive in context in Illinois.
But yeah, there's a lot of, you know, there's just a lot of challenges there locally.
And so that's the excitement.
Talking with Robert Isham there of Illinois Policy Institute.
So there's a lot of things that we're looking to get involved in in this court.
Illinois politics.
Illinois politics.
Illinois politics is interesting politics, man.
It's a different kind of politics.
But look, hey, if you're enjoying the dialogue thus far, hit that subscribe.
If this is the first time you're with us, we started this podcast a few months ago.
There's other content.
You may have seen myself, Matt Sapala on Seven Figure Squad or Adam Sosnick on Biteman Economics.
There's other channels that we create content, but this is the podcast.
If this is the first time here, you may think you're subscribed to the channel already.
You probably are not.
Please press the subscribe button.
Okay.
So let's, by the way, we haven't even hit a topic yet.
This entire time it was saving California, TTT, right?
Tax the tourists.
Tax the tourists.
If you're watching this, you got any questions, go on Twitter, hashtag PBD podcast.
Once again, hashtag PBD Podcast.
Mario, go on Twitter to see if anybody's asking questions.
We will directly answer your question.
We did get somebody that just gave $50.
Let me give a quick shout out to that person.
Okay.
Awesome shit.
Somebody gave $50 saying, hey, can you please give that $50 to Adam to go buy belts?
No, that's not what he said.
That's not what he said.
I'll take it.
By the way, quick shout out.
People are asking where Kai is.
Kai's okay.
He's at the be back soon.
Oh, is that where he is?
Yeah.
And we have a great replacement for Kai, the Guatemalan sensation.
You know what?
Kai means a Philip.
Kai in Filipino for short.
The long word is Kai Bigan.
But Kai in Filipino means homeboy.
Homeboy.
He is a qualified homeboy.
So Kai Bigan.
The God pillar.
You're my Kai Beagan.
The market is about to open.
I go over my $100,000 YOLO every day to help you do the same by GME and AMC.
Okay, good.
He just came in to advertise.
He's a Rob and not a Robin Hood, but what's the other one?
The website where they go and they drive traffic together.
A-Corns, what?
No, where all the conversations happen.
I can't believe it.
Oh, Reddit.
Yeah, Reddit.
Okay.
All right.
So let's go.
We got some love here to the seven-figure squad.
Shout out to Matt Sapo.
I think he's doing it.
Much love.
Yimi Marino just dropped in 50 bucks.
Thank you, Yimi Marino.
Okay.
All right.
So we got a few topics to go through, but I let me see.
Yeah, let's go into Biden's tax plan.
Okay, Biden Eyes' first major tax hike since 1993 is what he got.
If you want to go on page seven, let's go through some of the details.
Obviously, it's very, very long.
I'm not going to go through all of it, but I'll give pretty much the basic idea of it.
Okay.
He is planning major tax hikes since 1993 to help pay for the long-term economic program designed as a follow-up to his pandemic relief bill.
Unlike the $1.9 trillion COVID-19 Stimulus Act, the next initiative, which is expected to be even bigger, won't rely just on government debt as a funding source.
Preparations are being made for a package of measures that could include an increase of both corporate tax rate and individual tax rate for high earners.
So raising the corporate tax rate from 21 to 28.
No, yeah, raising it from 21 to 28, pairing back tax preferences for so-called pass-through businesses such as limited liability companies or partnerships, pairing back tax.
Oh my gosh.
Raising the income tax rate on individuals earning more than $400,000 a year income, expanding the estate tax reach, and a higher capital gains tax rate for individuals earning at least a million dollars annually.
So, Matt, why don't we go to you first?
Thoughts?
Thoughts.
You're penalizing their earners.
You're penalizing the generators.
I mean, right here, higher capital gains tax rate for individuals earning.
A lot of people that purchase stocks and buy businesses and things that buy low, sell high are earners.
And when you do well with that, you start making.
Listen, if a common Joe like me can start making a million dollars with no college degree, just learning a craft, learning a trade, being mentored by UPBD, there's a lot of other folks that's in that range too as well, buying and selling, buying and selling.
So again, that's hurting other investments into business.
We've invested into other businesses by making money in one area and investing into other businesses.
So it's going to penalize those who want to do.
Do I buy and hold versus sell and invest into something else?
That's going to affect that too as well.
Again, they're earning more money than $400,000.
Now, by the way, I sound like a jerk when I say that, don't I?
I sound like a jerk.
I used to make $20,000 a year.
Don't sound like a jerk.
And then I'm like, whoa, now that you're making money.
Well, yeah, because I busted my tail for it.
You know, nobody gave me anything.
I didn't have a rich family that gave me any money.
And now that I've done what this country allowed me to do, and then I have these type of policies now I got to look at, now pay more money.
I got to make more money just to net the same money just because I have to pay higher income taxes.
So that's my initial feedback when it comes to that.
We're expecting this though.
By the way, here's a former Marine, eight years.
You were in a Marine.
How many tours did you do?
Two or three?
I did two tours, combat tours.
Where did you go to?
So Persian Gulf War and an operational store hope, Somalia, Africa.
And then you came back as a single father.
Yes.
Okay.
You don't hear single father often.
You hear single mother, but you don't hear single father.
Takes responsibility.
And what were you doing to make money to support your kids all this time?
I got involved in the insurance industry.
Yeah, I got involved in the insurance industry.
I was just a producer for 14 years, high contract, buying leads and all this stuff.
And there was ultimate burnout because I realized, wow, if I don't sell, I don't make any money.
So, I mean, great industry, great business to be part.
But as a single dad, if I just didn't feel like it or just had a bad month and had a bad campaign, I'd be out of money.
That's why you teaching me how to scale, you teach me systems and processes and creating company culture and creating a national business and creating duplication with inside my business.
That's been the saving grace for me.
And then my income started to exponentially increase.
So I did the right things.
We created jobs and we've added jobs.
We just hired, actually, today we have one of our new guys in Seven Figure Squad starting today.
So we're creating jobs.
I'm doing what I'm supposed to be doing as an entrepreneur.
I'm not trying to compress.
I'm actually increasing our payroll and getting less people dependent on other church, charity, and government.
I'm getting them self-sustaining.
Matt, Matt, growing up high school, where did you guys live at in Chicago?
I lived in the Berwin, Cicero, Stickney area.
Went to Morton High School.
What would you say that area is as far as safety goes?
Oh, middle to low.
Middle to low.
Give me an idea.
Like, what are some things as a kid growing up?
Put it this way.
Coming out of high school, the reason why I joined sports, I wish I could say I had some very athletic aspirations.
No, I was walking outside and the gangbangers, remember back in the day, you used to have those long socks that goes all the way to your knees.
Well, the gangbangers are swinging it with a lock at the bottom.
All the kids are coming out of high school, they're swinging and just hitting kids.
No police, no narcs.
Everybody's kind of scary.
And that happened every day.
I said, okay, what sport am I doing today?
That was at my top of the neighborhood.
You couldn't have a starter jacket.
Remember the starter jacket?
Yeah, of course.
Of course.
You can't have a starter jacket in your locker.
Everybody's getting their starter jackets ripped up.
It's crazy starter jackets.
I will never forget the starter jackets.
Hottest one was Raiders.
Everybody in LA wanted the Raiders starter jacket.
And then in the 80s, it was the Bulls.
The Bulls.
Yeah, the Bulls.
And the Bears, though.
I mean, don't forget the Bears as well.
Correct, correct.
More so the Bulls because it was a longer run.
Bears was just one year.
86.
And by the way, the first time I had a pair of Jordans was 42 years old when you gave me a pair.
Crazy, right?
Crazy when you think about it.
The reason why I'm saying this to you, so now watch this.
Matt, how many people do you and Sheena support now?
The number.
Would I give in names?
How many people do you support?
Your family.
Oh, kids, in-laws, parents, your parents?
10 plus.
10 plus.
So that 10 plus support is taking pressure off of who?
The government.
The government.
So you, this is officially the government of the Sapalas that they take care of their family.
You know, the whole thing is about I want to be socialistic with my family, meaning I want to be able to support the people I love.
But when it comes down to business, I want to be capitalistic.
Let me choose my career, right?
But if I want to, you know, give equally to all my kids, let me do it.
That's because I want to do it.
Don't force me to do it.
And he's supporting his entire family.
And we want to hurt guys like him.
I don't know about that.
But by the way, do you remember when we would debate Biden raising taxes?
And what would people say?
Do you remember what people say?
That's not true.
That's not true.
Or they could afford to pay it.
Yeah.
No, they would say that's not true.
No, he never said he's going to raise taxes.
So Adam, tell us what you think about this wonderful strategy that Biden has.
Great segue.
Shout out to Matt Zapollo right there for doing what he said.
I mean, look, you kind of touched on this, that this is no surprise because this is exactly what he was running on.
As I'm reading these notes, I'm not like, whoa, where did that come from?
And I'm not saying that I support higher taxes.
Like, who the hell wants to support higher taxes?
No.
The problem was this.
The problem was this.
Obviously, the election was very close.
And ultimately, the election was decided, you know, November, what happened?
You know, what we got going on with you.
No, I just want a spoon.
If you guys can grab me a spoon that.
Give me a spoon.
The election was close.
But just to revisit the past, this is why that freaking Georgia Senate race was so damn important.
And this is why the Republicans could not get out of their own damn way.
And look, as someone who, you know, pretty decent high earner, I don't think we're on the Sapala level, but makes money, definitely doesn't want their taxes to go up.
But this is why I was even saying, look, I'm no fan of Trump.
I definitely, I've been vocal.
I'm voting for Biden.
I think Trump is a fascist and I don't want him around.
However, if I were voting, I would vote for at least one Republican in the Georgia Senate race.
But the shit show that was the Republican Party, especially in Georgia, Trump, Kelly Lauffler, David Perdue, the bickering and the infighting led to what we have now.
If they had their act together and there wasn't a civil war in the Republican Party, we would have a 51 Republican Senate majority and 49 in Democrats.
And this wouldn't be a freaking issue.
And they wouldn't be passing $1.9 trillion stimulus, which I think is obnoxious.
A trillion dollars, cool.
$1.5?
Cool, whatever.
But this is a little aggressive.
But this is the ramifications of voting.
But as much as you say, you have to realize if you voted for Biden and he told you he's going to raise taxes, there were a lot of people that said, I don't know if he's going to raise taxes.
Forget about the individual.
Forget about the personality.
Forget about who it is.
I almost think we need to just have policies run for office, not individuals run for office.
We have policies run for office.
Here's policies on the left.
Here's policies on the right.
No color, no personality, no temperament, no Twitter.
Here's policies.
What do you want to vote for in the next four years?
And you get to vote.
I think Trump without policies, say take Trump out and just put his policies.
You would have voted for it 100% of the time.
Let me say that one more time.
Trump, without the personality of Trump, if his policies were put on the table and he had to choose between the two, and there is no such thing as Republican Party and Democratic Party.
No such thing.
It's just policies and no candidate.
Who would you have voted for?
Well, let me just say this.
As much because we've addressed this, allow me.
We've addressed this before.
Take the emotions out of it, pure logic.
Unfortunately, that's not reality.
So even if I were to say policy-wise, I would vote for Trump.
The whole purpose of a podcast is that it's not a problem.
The whole reason he got elected was personality.
Well, okay, so again, but go back to it, because I don't disagree with you.
What I'm saying to you is if you take the personality out, you put policies out, which way would have, maybe not 100%, but your 50-50 split, would you have not been 60-40 to not raising taxes?
I think without Trump's, I mean, look, tax-wise, look, if taxes are the only freaking issue on your mind, then yeah, if you're a high earner, of course you're going to vote.
But I'm talking about for different reasons, though.
Put all the policies on the table.
Put all the policies on the table.
There is no Trump personality.
It's policy to policy.
Which way you're voting?
Policies.
There is no personality.
If there was no...
Give me a percentage, 55-45 on these policies.
As far as which direction?
If you voted for the policies that Biden had versus Trump's policies, the taxes are going to go to the roof.
I'll tell you this.
There's a higher likelihood Trump would be more palatable just based on his policies.
Just based on his policies, there's a higher likelihood that people would have voted for that.
The point I'm trying to make.
The point I'm trying to make is the election adds too much emotion when there is personalities involved.
And all I'm saying is maybe we have to take a look at how we are voting moving forward.
Maybe we have to take a look at how we make a decision moving forward.
Maybe we have to take a part of the personality out.
And don't get me wrong, there needs to be a lead dog.
There needs to be somebody that's going to be a leader to execute certain things.
But, you know, there's, thank you, by the way.
There's also a challenge when there's also a challenge when, you know, you have somebody that you can have one bad connection with him.
Like, you look at Trump and you say, he reminds me of my father.
I'll never vote for him.
It's not Trump's fault.
You're just never going to vote for him because he reminds you of your father because, you know, he was so strong.
There's no way in the guy, never, ever will I vote for him.
And overlook the policies.
Yeah, and overlook the policies.
Because when you put the policies side by side, and I would debate my friends, I said, tell me, forget about, take the candidates out, take the faces out, put the policies down, which way you're voting.
And I would mix it up.
Like, you know, I would put right policies on the left side and left policies on the right side.
I would say, I say, you realize you just voted.
By the way, 90% of the time, they all voted for conservative policies and they didn't even know it.
Wow.
And I'm not talking about people that are Republicans.
I'm not talking about people that are, I'm talking about reasonable, like he's a reasonable guy.
If you sit down with him, yes, soy boy mafia, all that stuff.
And, you know, he hates Trump.
Trump's a fascist.
He just drops it out there like it's a proven fact.
Yes, he can say all this stuff that he says.
But if we had the numbers neck and neck right next to each other, you'd sit there and say, damn, never thought about that before.
It reminds me of a military terminology is don't respect.
You may not respect the man, but respect the rank, the job that they have to do.
It's kind of like this.
You may not respect the man or woman, but you might respect what you respect the job they have to do.
And when you're looking at the policies, you're looking at partisan, bipartisan issues, there is a lot of emotional anchors to a lot of people making a decision.
I mean, look at the properties you're looking at.
There's a lot of emotional anchors there.
Why somebody either wants to drop a prize or price it at one point is ridiculous.
What happened this week?
That's, that's all.
It's all emotional, and so I think that the very same thing happened.
Watch this to give you some credit.
You ready, I'm gonna give you some credit here.
You're gonna like it.
Get yourself ready.
Beltless Adam Sauce, Nick okay.
So watch this here.
Watch this here okay, watch this here, Mario.
You're looking at the Twitter again.
Guys, if you're watching this, you got questions, go to Twitter hashtag PBD podcast hashtag PBD podcast PBD podcast question for you.
Okay, last night we're sitting there by the pool, by the inner coastal, we're having a cigar which, by the way Mario, thank you for those cigars.
Okay, he got the old school military, the Swishers what do you call the cheap ones?
No, he got his role in Swiss, or Sweet, he brought legit stuff.
Last night, he got the Avo, 30 years.
Yeah, one of the things that concerned me is I think he spiced one of them, though he spiced it.
Yeah, he loaded it in there because you were going somewhere.
Yeah, I was singing okay, so so yeah, Paul is.
Paul is not here today.
Paul got so pissed off.
But you know, because we leaked the information on what kind of music he works out to, he was upset about it.
But anyways, going back to it, last night, we're sitting there.
I'm showing you the homes.
I'm showing you the community.
We're looking at a bunch of different things.
You asked me a question.
You said, what's the difference between what?
Yes.
A million?
10 million.
10 million?
100 million.
And a billion, right?
And the answers we went through together.
Crazy answers.
So I said, here's the differences.
And the point's going to get to Trump.
I said, number one is you have to have the people that make it at the highest level.
They have extraordinary, larger-than-life charismas, right?
We talk about charisma.
Like, you know, charismatic, charismatic, charismatic.
There's charisma.
It's attractive.
There's something attractive about them that people keep going up.
Like you want to run with them.
You feel the energy.
Like, dude, this guy's going somewhere.
I'm going to do something with him, right?
Okay.
But that's not enough because there's a lot of charismatic broke people.
So that alone is nothing.
There's a lot of comedians in LA that are charismatic that are making $24,000 a year and they're waiting on tables counting on tips and driving Uber at nights, right?
Okay.
Or charismatic evil people.
Charismatic evil people.
We know those as well.
In business, you're going to meet people like that, right?
Then I said, second thing is extraordinary energy.
There's a man named Hubert who said these two 20, 30, 40 years ago, these two points, okay?
And he was one of the best to do what he did at his game.
Very competitive guy.
He said, extraordinary energy, which means what?
You can last.
You can go, right?
Meaning you, if a guy gets tired at nine, you go on 10, 11, 12, 1.
That guy's already asleep.
I'll give Trump credit for having extra energy.
By the way, by the way, charisma and energy.
But watch what happens with the mistake.
Watch where we're going here.
Then I said, the next one is focus.
The more money you make, the million, 10 million, 100 million, a billion, the more you move up, the more people come to distract you.
The more opportunities come up to distract you.
So what happens is like, oh, what if I do this?
And what if I do this?
And what if I do this?
Great.
But your core core, you can't get away from the core.
So as you move up, you get distracted.
Unfortunately, many people do, right?
And the guy that stays focused as long as wins.
Then I said the next one was they do it now.
Urgency.
Yeah, urgency.
So yesterday, you know, I'm having a conference call.
Yesterday, I said yesterday felt like a week.
We got Tom and I, Tom Ellsworth and I yesterday did enough in a week as we did in one day.
We did in one day what we typically would do in a week.
Wow.
Had a conversation in the morning.
One of my favorite calls was calling David Hayes, our CIO, made an announcement to him.
He's officially a shareholder with the company.
Shout out to David Hayes.
Very excited about David.
Then it was Alexis got a great call, surprise call.
Then also it was also a Matt, Matt Ford, which I'm really proud of these guys.
They got a good call as well.
Matt was emotional.
Everybody was, I'm excited about it, right?
I'm excited for you guys.
Congrats.
So we went back to back to back.
And there was a point where I went yesterday to watch Dylan play, which Dylan freaking killed it at soccer.
No joke.
This guy was like, just the level of growth with this kid.
It's just, you know, God has blessed me with incredible.
I was praying last night.
I'm like, you are so good to me, man.
I'm so lucky.
The fact that, God, you're so good to me.
And like overly, thank you.
I'm so grateful.
It was a very good prayer last time before.
After we wrapped up, I went upstairs and I'm like, I have to get on my knees and pray tonight.
So I spent time with Dylan.
I'm like, oh, this was great.
But I'm on the phone for three and a half hours dealing with different issues, right?
But it was all like business deal that's coming up.
And then at night, we meet together and we talk.
I said, so the other difference is as you make more money, you can say, I'll do it tomorrow.
Because who the hell is going to say anything to you?
Who's going to say anything?
You're making 10 million.
But the person that's going to say something to you is the guy that's making 100 million.
He's going to say, oh, you're the tomorrow guy.
Oh, so you are too cool for tomorrow.
So that leads me to point number five, which was the too cool crowd.
You're too cool to make that phone call.
You're too cool to have that conversation.
You're too cool to go say hello to a new employee.
You're too cool to go shake hands with a guy that's just wanting to talk to you.
You become too cool too big time.
Hey, too cool, man.
I'm too cool.
So watch so far.
Trump's a now guy.
Trump's a larger than I've charisma guy.
Trump's an energy guy.
Trump's a guy that is not too cool.
Everybody will say he tipped me.
He's a valet.
Every valet, anybody that was one of his security, they said he would stand there, talk to me for 10 minutes.
How's the wife?
How's the kids?
Everybody had to say that kind of stuff about the guy, right?
So I gave a few other points to him.
You know what the last one is?
Focus.
Is that what you're saying?
I've always said focus.
He's also focused.
He said, make America great again.
He stayed focused on it.
Never change it.
He stayed on that for six years from campaign to the end, right?
But you know what the next one is?
Go ahead.
I was, well, I don't want to.
No, no, go ahead.
Go ahead.
Say.
Well, you talked about not creating unnecessary problems.
Self-inflicted problems.
Trump is 5'45, but he's self-inflicted problems and he creates new enemies you don't need.
You're already, when you get to a million dollar your income, when you get six figures, you have enemies.
It could be your cousin that's never made more money than you, but got a degree from USC.
He's not happy with you.
Because his mother's like, how the hell did Joey not get a degree?
And he's making six figures.
You and I, you went to USC, your mommy, your daddy and I spent $200,000 and you're all making $68,000.
Why is Joey working harder than you?
You have an enemy.
It's your cousin.
You get to a million, you have enemies.
You get to $10 million, you have an enemy.
It's impossible to move up without having enemies.
There is nothing you can do about it, right?
Without having enemies.
Trump, self-inflicted.
Trump, new enemies.
It's just, he could have prevented that.
And the old enemies he did beat, he kept reviving.
He kept reviving old enemies.
What is the purpose of it, of doing that?
Got a call yesterday from a guy I respect a lot.
And we're having a conversation.
He says, hey, well, this guy wants to do this.
I said, look, you have to, if God wants to have dinner with me in a heartbeat, I'll have dinner with him.
I don't have any problem.
If he and I, I said, just so you know, he and I have more in common than he thinks we do.
We have a lot of things in common.
I don't have any problem.
Because what is the purpose of having more new enemies?
Nothing.
Doesn't benefit him, doesn't benefit me.
I'm all about let's try to rekindle a relationship, right?
But there are certain enemies you cannot prevent from having.
Trump's going to have enemies.
He can't prevent from he kept creating new ones, creating new ones, creating new ones, creating new ones.
But that was on purpose, by the way.
He's the type of person that actually needs an enemy to reel against.
I think that was his whole part of his ego or part of his whole drive is create an enemy, seek, divide, and conquer.
And that was his whole game plan.
Well, wait a minute.
That's the politically, you just called the biggest political strategy that's been used from many, many people.
I've lived many different places.
That's a pure socialist, communistic, you know, these strategies have been used for a long time.
Anarchy, you know, this has been used for a very, very long time.
So it's not like you're pointing it at him.
I don't care about the divide and conquer.
A lot of people use that.
The left used it.
Biden used it.
Obama used it eloquently.
So did Clinton.
So did Bushes.
So did Ray.
This isn't a new thing about that part, that strategy.
But to constantly give birth to new enemies, you can avoid that.
And he couldn't avoid that.
He kept doing it over and over and over and over and over again.
That's when good advisors come into place.
You talk to the mob, the most important character in a mob boss is who?
Conciliary.
Yeah, it's the most important.
It's the most important.
You need somebody to speak to and say, hey, you know, what do you think about this?
I don't know.
Look at Godfather.
Who was the most important guy in the Godfather?
Robert Duvall.
Think about that.
Think about that.
If you don't give that guy credence and value, because he knows you, a great conciliary is never going to disrespect your ego.
Like I had a conversation the other day with one of our guys.
We went shopping.
I said, what are you doing?
I said, don't answer on my behalf.
I know what I want.
You don't need to answer on my behalf.
What are you doing?
So I pulled him aside.
I told him to.
He's like, oh, shit, I'm so sorry.
I said, no, no, no.
I'm helping you mature as a leader.
Don't ever answer on a grown man's behalf.
Okay?
Privately, ask me, hey, what do you think about this?
So Trump had the right people to respect him and privately saying, hey, Trump, I just want you to know, hey, this is, I understand where you're, you have to protect and guard the person's what?
Their ego.
Ego.
You got it.
I got it.
You got it.
Mario's got it.
We all got it.
There isn't anybody that doesn't have it.
Trump had those kinds of people to protect that.
But you have to be willing to take some of the feedback because you have blind spots.
Exactly the point.
We all have them.
Here's my question for you with this.
You've always said, you know, who's the most important person?
Thanks, Chase Gordon, for the 50 bucks.
Who's the most important person in your ear?
It's the last person you're here.
What's the thing I always say?
Yeah, the last two person.
Last moment of the day.
More than anyone, who do you think Trump actually listened to in his ear?
More than anyone.
Who were the people he said, you know what?
Thank you, bro.
There's my point.
I would say his daughter.
I would say Kellyanne Conway.
I would actually put Kellyanne Conway up there.
I really think he trusts Kellyanne Conway like tremendously.
I'd probably put Kellyanne Conway at the top.
I don't know about Junior.
I think daughter, yes.
I think Junior's girlfriend, Kimberly, I think he would actually take feedback from her because she was the former wife of Newsome.
I think she would take the feedback.
But I'm not saying feedback because you can always get feedback.
I'm saying, did he have a constitutional?
Carl Grove.
No.
Like someone who's like, dude, I'm having a rough day.
I need to talk to you.
Well, he wasn't close to any of the former presidents.
He wasn't close.
So it's like, you know, it's, I don't, he had a lot of things.
There might not be that person, I guess, is the answer.
Mattis was a good guy to have kept.
Again, going back to it, I'm telling you, I'm not disagreeing with you, but I'm telling you right now, the reality of it is I would still tolerate that personality to not have something like this take place.
Taxes going up.
I would still tolerate this personality.
You and I don't get to dictate someone's personality.
Okay?
You don't get to dictate someone's personality.
Yeah, you hope the person's character is solid.
Like, I'm not compromising character.
Don't get me wrong.
I've been around a lot of people in business.
The moment I sense character, there's a line right there.
I'm not crossing there.
You showed.
We have business relationships, but there's a limit to how far we'll go doing business together.
Not crossing that line with you.
We can have a drink.
We can have a conversation.
We can do all that stuff.
Great.
Deeper than that?
Probably not.
These policies?
Taxes going up, corporate from 21 to 28, capital gains going back up, all that other stuff.
Where's that money going to?
To the government to do what?
To spend $1.9 trillion spending money?
Like, you haven't earned the right to earn my respect to pay you more taxes.
You got to earn my respect for me to raise taxes.
For example, if you are, for example, let's just say you're one of my entrepreneurs I invested in.
Hypothetically, you are someone that's an entrepreneur I invested in.
Okay.
Matt and I are investors in your company.
You keep coming back saying, I need another 5 million.
I need another 10 million.
I need another 20 million.
I need another 40 million.
Imagine you keep coming back to someone, ask for more money.
And I'm like, what'd you do with the last 5 million I gave you?
What'd you do with the last 10 million we gave you?
What'd you do with it?
Company hasn't grown.
You ain't grown at 20%.
What the hell am I doing reinvesting back into your company?
Now, flip side.
I talked to my board and I told them, board, here's one things I'm not okay with.
I'm not doing this.
I just want you guys to know this.
So we have to kind of figure this thing out right now.
We had a three-hour call about it.
You know what the board said?
Dude, what do you want to do?
You know why?
Because there's results.
So if I go to the board and I say, I need another $40 million to do what we want to do with the company.
They laugh if I'm not growing.
They say, no problem.
How much do you need?
$40 million.
Let's go get it.
Because we're growing.
You want to raise taxes and you haven't proven that you've done right with the last $100 billion, a trillion we paid you.
You have not earned the right to raise the taxes yet.
You just printed another $1.9 trillion.
That's $5 trillion.
Danielle DeMartino-Budd conversation we had last week.
$5 trillion in the last 12 months.
You want to raise taxes?
So this is exactly why I offered a 20% tourist tax for the state of California, New York that we talked about.
It's the opposite.
Take care of your workers.
Take care of your job creators.
This is a slap in the face.
So entrepreneurs already had it hard the last 12 months due to COVID, and now you want to kick their asses.
You gave everybody $1,400, but the job creators like, dude, how do I come up with this money?
Support me a little bit.
Think about me a little bit.
I lost my restaurant.
I lost my disk.
That's what we have to be thinking about.
Not, hey, how you doing?
Let me see that cut.
Oh, where's the wound?
Give me the salt.
Boom, boom, How's it feel, huh?
Don't worry about it.
It's all going to work out.
You got another cut?
Don't worry about it.
It's all going to work out.
No, bro, I don't trust you.
So, I don't know.
That to me, it doesn't sit well to do that, especially at a time like this, man.
Just let people recover before you say, let's kick everyone's tail.
I may be wrong.
Look, I've been wrong many times in my life and I'm very comfortable with it.
But when I see some like this and I think about the small business owner that's doing his best to feed the family and support a family of 10 plus, I want to empower him as much as possible because he has proven that he's made America better.
You have proven you've made America better.
Mario has proven he made America better.
Mario is the highest paying guy in his family.
And Mario's lineage, if you see what Mario came from, Mario's not supposed to be where he's at right now.
He's not.
Neither are you, neither is he, neither am I.
We did okay.
How did that happen?
We need to reward folks that are doing their parts.
I don't know.
Well said, PBD.
Sometimes he goes off on these riffs and you just remember the time when I was hitting the supply, when we have to, for example, in the military, we were ordering cleaning gear and we're ordering toilet plungers and mops and brooms and a typical mop that you can go to Home Depot for for, let's say, 25, 50 bucks, you order through the government supply channel through its contractors, and it's a $250 for the same 10 times more.
So there's just exactly.
There's a lot of wasteful spending that goes in government.
It goes unchecked.
Listen, I'm a veteran, and I don't go to the VA for my medical care.
I went there for an MRI.
That's about it.
And thank God, I had the private health insurance to go see a doctor instead of taking all day to be at the VA because there's not quality care.
There's great doctors work at the VA.
But the system of the bureaucracy in the VA, to take all day after three, four, six months to get an appointment and all day to be there.
I mean, I'm a business owner.
I got to run my business.
Not spent all day at the VA.
And I say, you know what, let me give up my seat in line so a veteran who doesn't have the private insurance and needs to depend on the VA can take my seat so that he can get the quality of care because he might not have any other options.
So how do we get this better?
Pee D, I want to ask you this question.
What can the typical citizen do?
I mean, when we look at all these different things, how can they, after we saw what happened during the elections, what can the typical citizen, the typical person watching this right now, outside of just listening to the show, how can they get more active?
How can get more involved?
Because if they're going to sit, we can't sit back and say somebody else is going to fix this problem, which a lot of people just love to do.
Tweets, send a text, send them an email.
Is there anything more proactive they can do?
Oh, don't fall for the trap, man.
Do not fall for the trap of relying on the government in any way.
Don't fall for the trap.
Become as independent as possible.
Become a self-earner.
Go create your own value in the marketplace.
Educate yourself.
Don't get emotionally tied to a political party just because your parents are Republicans or Democrats or whatever they are.
Look, my parents were Christians, but I was an atheist for 25 years.
I chose to go become a Christian because I wanted to go study.
I looked at Judaism.
I looked at Christianity.
I looked at LDS.
I thought the best thing for me was non-denominational Christian, right?
My parents, politically, they were on complete opposite sides.
I went and chose to see, you've been voting Democrat all your life.
Then you're voting Republican.
Maybe you're an independent because it doesn't seem like you fully agree with everything Republicans do.
You don't fully agree with everything Democrats do.
Hey, go independent like an eagle flies faster if he's traveling like this, right?
With both wings.
Yeah, so if we're going like this, if we're going like this, we're just going in circles if we're like this, if we're far left.
If we're like this, we're still doing circles.
Just so you know, far right is going in the same place.
Far left, the eagle's still doing the far place.
We're like this, we're making real progress when we're sitting here, right?
So as a viewer listening to this, if what we say or I say or Adam says or Sam Matt says, you fully disagree with, great.
Go do some more research.
Okay.
If you say, I fully agree with, great.
Go find even more leaks.
I stated my 20%.
Then I said, be the devil's advocate because it's not like I don't know 100%.
I think it's an idea.
Let's now tear the idea apart, right?
Patrick Lancioni, whom we're having at the event, he's got this one book called Four Qualities of Extraordinary Executive.
I think it's something like that.
I had my entire executive team read it at the home office.
We went through it.
One of the things he talks about is argue.
Argue, which to me it's what?
Debate.
conflict.
Until eventually you do what?
You sit there and say, you know what?
Once we're on the same page, he says, move forward.
Don't bring it up anymore.
Okay.
Let's just go and move forward.
We're all on the same page.
You won.
His idea is better.
Great.
Let's go.
We're moving on, right?
I think this leads me to the whole challenge that we're facing right now with this whole cancel culture.
Bill Burr got up and he said one joke, and everybody's like, hey, Bill Burr's not getting canceled.
You know, the other actress got canceled.
And then, you know, who's the guy from the UK got canceled?
What are you talking about?
He's one of the best TV guys.
I didn't say he's one of the most likable TV guys.
He's one of the best TV guys.
Everybody talks about Pierce Morgan.
Pierce Morgan is on TV.
You know, everybody talks about that's exactly who you want.
If I'm running Good Morning Britain, that's exactly the kind of guy I want.
You don't want a vanilla guy.
Hi, I'm John.
I'm like this pretty boy white guy who says all the proper things.
Bullshit.
I want Pierce.
Yeah.
I want Pierce gets paid for his opinion.
But the point is, so what if you disagree?
He doesn't agree with that.
Megan told the truth.
He has the right to say, I don't believe her.
Right.
So we have to kind of know that this is a trap that you can't fall for.
You know, sometimes a trap helps the people in your own party, but what you don't realize, long-term, you're next.
It's going to come back to you and haunt you.
And the biggest thing is don't fall for the trap.
Go become independent.
Be a self-earner.
Protect your own family where you don't have to one day look back and say, I cannot believe I made the decision.
I'm now, you know, having to worry about dot, dot, dot.
You know, I have to be answering to someone's policies.
I don't know.
I think to me, I had a guy over at my house with his wife Sunday night, and I love these guys.
Their kids are over three kids, and we're talking.
I said, look, you have to know one thing about my style of leadership.
Here's how I work, and here's how conflict is started.
Okay.
Just so you know, I ask you who you want to be.
I ask you what you want.
I ask you how serious you're about it.
Once you commit in my mind, I help you get there and I'm your advisor to help you get there.
Conflict happens when you change yours every two months and when you don't want to commit to your word.
Then there's a conflict.
I said, so who do you want to be?
Because at the pace we're going right now, this is just not going to work out.
Just telling you, right, it's just not going to work out.
You change every other day.
So we sat down, we hashed it out 90 minutes.
Boom.
We're moving forward.
We're in a good place, right?
Okay, great.
Same thing goes with, you know, like today where we are.
Dude, we got to make up our minds about what we're going to be doing and what direction we're going.
But we got to have the debate.
We got to hash it out.
We got to sit down and have the conversation.
And then all of a sudden say, hey, we're on the same page.
Let's move on now.
So in the marketplace today, if you want to be somebody that's seen as a leader, you kind of got to go earn your stripes in the market today.
Go earn them.
Easiest time ever to become rich, ever.
What do you mean by that?
Why do you say the easiest time ever to become rich?
This is a joke right now to become wealthy.
You give me somebody that's willing to read and willing to work hard, they're going to get the strategies and the stamina.
If you show me somebody that's willing to work hard and improve, it's the easiest time ever to become wealthy.
There's so many ways to eat.
What do you think that is right now, you're saying?
Money's everywhere today.
Money's, I've looked at a house, okay?
Okay, one house I look at, $25 million.
What does the owner do?
Oh, the owner is the founder of the lights on the bottom of the shoes that when your kids would run, the lights would come up.
He's a billionaire.
Get out of here.
So I've looked at 20 homes in the last, however long, that are all 25 million plus, like 20 million plus, right?
Wow.
What does he do?
AC company.
What does he do?
This one, yo, everyone knows who this is.
He has a drink company.
Okay, like what?
Famous tequila.
Okay, what does he do?
This.
What does he do?
Okay, he was one of the shareholders of Brookshire Hathaway.
What does he do?
He was an executive of IBM in the 80s.
What does he do?
He was this.
What does he do?
There's so many ways to make money.
To make money right now, go find a guy like him.
Work as his right-hand guy.
Earn the respect of his shadow everything he does.
And then five, 10 years later, it's happening to you.
The hardest part is finding the right people to shadow.
It is by far the biggest challenge today.
If a young guy, forget industry, if I have to choose between industry and individual to shadow, I'm shadowing the individual, not the industry.
Go shadow the right individual.
Forget about the industry.
People are too much about find your passion, find your this.
No, find your team.
Find your running mates.
Forget about that.
Find your running mates.
Finance your passion.
This whole thing about go find your passion.
No, I finance my passion.
I don't find my passion.
My passion is baseball cards.
But to me, I'm going to finance my passion.
Yesterday we were going through.
Your cards, your collection.
A little bit of it.
A little bit.
The collection yesterday.
You know, so finance your passion, but find your running mates.
Find a team to run with.
What's shocking, a couple of years ago at your first vault conference, I was shocked by that young man who was 15 years old, and he mowed all the lawns to take he and his dad to the vault conference.
Teenage, 14, 15 years old.
It's also shocking to me when I read the comments that follow Value Tame and listen to the Bed David podcast is how many teenagers are not only listening, but also making a lot of money.
30,000, 40,000, 50,000.
Teenagers.
Yep.
I'm floored, flabbergasted.
So it's not an age thing.
It's a desire thing, an education thing, an execution thing, following through and sticking with it.
Easiest time ever.
And not wavering on your commitments.
Did you think you were going to start making $2 million a year?
Did you think you and Sheena are going to make $2 million a year when you're life all of a sudden right now, like the kind of life you're living and the house you're living, the roles parked outside, the kids going to the schools, having the luxury?
Big shot in the dark.
I'm going to be in there one day without saying, okay, what's the strategy?
Then once you gave me strategy, then it's just a matter of time.
That's the cool part about this.
You can just walk your way into an income goal based on time, effort, and sticking with it.
The biggest thing I see in just what you just mentioned, people just wavering once they face conflict, okay, that's not what I really wanted.
And we do something else.
No, that's not what I really wanted.
Let me do something else.
I've never seen, the book Outwitting the Devil.
That's called Being a Drifter.
They drift from here, they drift from here, they never accomplish anything.
Look back on your whole entire life and said, man, I get regret.
But in the meantime, I've been trolling people online and dogging people out online, but really never accomplished anything myself versus staying focused on number two, three, and four.
You know, you should be focusing on, or instead of focusing on number one, you should be focusing on your game and getting better and improving.
And that's exactly what you and Sheena have done continuously, which is pretty insane to see that happening.
Anyways, Jack Hasso just gave $50.
They said Trump didn't win, didn't focus on the Democratic voters.
Big mistake.
If he did spend the time to speak to them, he very well would still be president.
Next Republican candidate needs to speak to the Democratic audience to secure wins.
But David, 2024, I agree with Jack on both sides.
They need to speak to the other side.
In 2024, somebody needs to be able to do that.
Jack, I would have the conversation about running, but I was born in Iran.
I think it's very important for people to realize I will make a great advisor.
Okay.
And I, you know, all the other stuff.
But one day, if somebody like you wants to run, somebody like Matt wants to run, somebody like a guy in Bakersfield.
What's his name?
I forget his name.
My cigar name is Ricardo Ricky.
Your twin.
Ricky Ricardo.
Yeah.
He owes me a thousand bucks.
I'm calling him out.
Does he really?
He's still ducking me.
Get out of here.
Ricky Aguilar.
No.
I'm calling you out.
He pays his debt.
No, he doesn't.
Get out of here.
Every time I text him, he's like, new phone number.
Who's this?
I'm like, come on, Ricky.
Don't make me cancel culture, you bro.
But let me just say one thing.
Sure.
And this is a kudos right here because you said something very powerful that I actually fully agree with, and I'm sure Matt will as well.
You said, don't, if I had the choice of picking my field or the person to run with, the person to run with versus a field, I'm going to take the person to run with.
Let's use you as a case example.
How long did you do insurance before you met Pat?
Yep.
14 years.
14 years and you did okay.
You maybe made six figures here and there.
350 being that bigger.
All right.
You met Pat, something changed completely.
Right?
So it was the person you were running with.
You were still doing insurance, but it was a vision.
It was a purpose.
It was a passion.
There was a system.
It was the person you were running with.
You know, for me, I was living in South Beach.
I was running around doing whatever, hanging with who, whatever, whatever.
I had to get out of my comfort zone and said, dude, the people that I'm hanging with in South Beach are not going to get me to the next level I need to get to.
And I moved to freaking Boca when I was 26 years old and started running with adults.
Guys who were in their mid-30s, started to have families, kids.
My buddy Mark, who's my business partner now, I was his like junior associate cold caller, just minimum wage guy that he taught me the ropes.
I had to have some humility and say, look, this guy's killing it.
I need to shut the F up and just listen from this guy.
He's an ultimate salesman.
And now, you know, years later, 15 years later, our firm is great.
It's awesome.
But I had to have the humility to say, look, I'm 26, dude.
I don't know everything.
You know, I might get cool points for being in the club, but not in the business world.
So it's very powerful what Pat said.
So for the young people out there, you know, it's not about your passion.
It's about getting focused on a career decision and a career move.
Running mates.
Running mates that can take you to the next level.
And I mean, I'll even use my case example for myself.
I was doing my own little show, Saws Talks Money on social media.
I didn't have a clear direction of where I wanted to go, aligning myself with PBD and value attainment.
Woo-wee!
Like, you know exactly where you're going, and running mates are so key.
So for young people out there, 20 million views.
Think about it.
You've had 20 million eyeballs since you joined Valet.
Wow, that's insane.
That's insane.
That's crazy.
20 million eyeballs.
How often when you go out, people stop being like, hey, so boy, hey, all the time.
I have their sobbing mafia shots out there.
The point I'm trying to make to you is find the right running mates.
Get into that team.
The right team can change your life.
Then you can finance your passion.
Correct.
If it's movies, you'll fund your movie.
If it's motorcycles, you'll fund your bikes.
If it's collectibles, you'll fund it.
It's anything you'll fund it, but get in the right circle and running mates.
Totally.
Do you have a few markers you want to share to how to make sure you're picking the right team, the right approach?
To me, character has to be at the top values and principles because, you know, I can also tell you, when I was 21 years old, I got out of the army and temper was high, and I had respect in the streets because I had a little bit of a reputation.
So a guy from Colombia, a guy from Bally's, who introduced me to a guy from Colombia who was one of the biggest dealers in California, and he was selling stuff from Colombia.
And you know what they sell from Colombia?
The coffee.
High-end websites, right?
Coffee websites.
Yeah, of course.
So him and I meet.
He says, hey, you know, we need to go for a job tonight.
And if you do this, we'll pay, you know, such and such money.
It was a good amount, cash.
And I'm like, okay, what do we need to do?
So we went to Marina Del Rey and we went to one of the yachts, collected some money.
It was $100,000.
And it was, you know, big website there.
A nose candy mountain on the table sitting there.
And we left.
He says, 4K every week.
Okay.
I would have made money, but I was six to 12 months away from going to jail.
You would have never heard about Patrick Ben David.
So the running mates need to also be solid values and principles and character.
You cannot compromise that part.
That's also the fastest way to ruin your life.
And you will get a sense if it's the right crowd or the wrong crowd.
You will get a sense.
You will know.
You're not a dummy.
We know when we're in a place where like, ooh, I'm having a little too much fun.
This is going a little too fast.
And I don't know if long term I admire that I want to be that man one day or that woman one day.
It's fun for the moment, but long term.
And what's crazy is we know at a young age.
Yeah.
You know at a young age.
Like, you know, at eight years old.
It's not even like you learned this at 22 years old.
You know, like, ah, it's a little too dangerous here what I'm doing with these guys.
You know, this could lead me into, you know, some trouble.
So yeah, I think you got to also find that part.
And, you know, it's almost like you're a girlfriend that you will show publicly where you're going to bring to your parents.
And hey, mom, look at this girl I just met or look at this guy I just met.
There's got to be something where you're proud to show them to your parents.
Okay.
You're proud to show your running mates to your parents saying, hey, these are the guys I'm in business with.
Touche.
If you can do that, then guess what?
You got something you can bank on.
And if you find something like that, rule of thumb, don't screw it up.
Don't screw it up.
Be a valuable asset to that group.
So you're also contributing.
Okay, if you're watching this so far, you're enjoying the podcast with our guests today, Matt, Money Smart Guy, Sapala, Seven Finger Squad.
Press that subscribe button and put the thumbs up if you're liking the dialogue and the direction we're going right now.
So we've got a lot of different topics, guys, that we got going on.
By the way, if you have any questions, I looked at the questions.
I looked at the questions.
We had somebody ask about China's GDB 300%.
We had a guy that asked about, let me, Yimi Merino said, what do you think about the president of El Salvador, how he is impacting the country and the rest of Central and South America that media hates, that a third party winning that was unheard of over five years ago.
And I got to tell you, you're right.
And there are a lot of people, good El Salvadorian friends of mine.
Matter of fact, last night we were listening to Salvadorian song, where the famous song where he says, what?
A barber won the lottery, right?
Who sings it?
The Whig person.
Yeah, last night we were listening to this.
What was the singer's name?
Can you?
Hector something.
Hector Del Toro.
No, Hector is definitely not a figure.
Hector's a strategist.
We were listening to a song last night, but it's great to see that.
If you can find out who the guys, I want to give the shout out because the song was a beautiful song.
Go ahead.
You have it?
Like, Texas.
Oh, that's good.
Sing it for us, Mario.
Give us a little song.
I don't know the song.
I think it's single.
It's a beautiful song.
So I think it's great seeing that, Yimi, Marino, and I'd like to see more of that.
By the way, if you have a question, go on Twitter, hashtag PBD Podcast, post your question.
We are looking at the questions that are being put up there.
Okay, so where do we want to go next?
Is there anything here, Adam or Matt, that you have strong opinions on that you want to go to?
I got 50 topics here that I can go on.
Is there any one of them that you have strong opinions on that you want to go on?
Beijing asks Alibaba to shed media assets.
Conor McGregor reportedly doubles his net worth with Proper 12 sale.
Okay.
AMC stock source 29% after they're planning on opening locations in California.
31% of young adults relocated during COVID, but they aren't giving up on cities altogether.
Elon Musk new title.
Netflix most Academy Award-winning nominations.
Toys R Us is looking at coming back.
Stripe is officially the most valuable U.S. startup.
Blackstone, $6 billion buying the hotel extended stay.
Bitcoin is talking about coming up with ATMs.
Banks are about to have killer profit here because of what's happening.
A prediction of Bitcoin, $5 trillion that spacks any direction you want to go.
I got a top three.
Tell me.
Either we go all in on China, we talk about your boy, Conor McGregor.
I know you have very strong feelings on Connor, or we can talk about what young people are doing and where they're moving.
Which one do you want to do?
So Paula, what do you think?
Let's talk about Conor McGregor.
Let's talk about Connor McGregor.
Go to page three.
Let's do it.
Connor McGregor.
Lost his last fight.
Proper 12.
According to a report, Conor McGregor doubled his net worth with his recent Proper 12 Irish whiskey sale.
It was announced earlier this week that Mexican beverage company Besley exercised a call option to acquire 51% stake in Irie Bournes Spirits, the name behind proper number 12, Irish whiskey.
The sale was reported 122 million pounds, which is roughly 155 million U.S. dollars and effectively pushed Connor's net worth to over $300 million.
That bad Connor McGregor.
By the way, question.
Good timing on the sale.
Great timing on the sales.
Exactly.
Because he is starting to decline.
The moment you start losing as a fighter, you start losing a platform.
You don't have a platform or your platform is not as strong, then your whatever endorsements or brands.
Michael Jordan said in the last dance documentary, he said, the greatest endorsement that I could ever draw on in order to build was what I did in the court.
If that starts to decrease in performance, then your endorsements and your other opportunities start to decrease too as well.
My opinion.
Yeah, I mean, you, I'm just going to, I'm going to double back a month ago, whenever that fight was, I couldn't even tell you the guy he lost to his name at this point.
What was his name?
That's my point.
48.
Okay, cool.
In no way, shape, or form was that guy a superstar, a megastar.
He had, he shouldn't have been.
Connor should have won that fight, and Connor and Khabib should have been going at it, right?
How heated were you when Conor lost?
You were like...
I was furious.
And not even because you're a Connor fan, because you want to see competition at the highest level.
You wanted to see what he was doing.
Who the hell did you want to see him fight?
Exactly.
And you were like, so like you were like, all right, everybody, get the hell out of my house.
I'm like, I'm done with this freaking fight.
We've watched every freaking fight, the girls fighting, the lightweights, this, that.
We stayed up all night, ready to watch his fight at freaking midnight.
Connor.
That's right.
East Coast, you have to stay up till midnight.
Yeah, Connor goes out there and he's catching the guy's leg and he's catching the guy's leg.
He's kicking him.
He's kicking him.
Boom.
Gets knocked out.
And you were so freaking pissed because you knew the potential of what was down the line.
You got the world wanted.
Exactly.
So when you talk about that.
Do you remember what I said?
Do you remember what I said?
I said, he doesn't realize what he just did.
Yeah.
We almost need to show that clip when we make this short clip and combine that.
Mario, have the editor put that part on what was said about Connor because we talked about it and won the podcast.
You know what I said?
What'd you say?
I said, he doesn't realize Proper 12's valuation just went down.
Yeah.
Wow.
100%.
And this is why you, to Sopala's credit, timing is huge here because you lose one more fight, you lose your next fight.
That might be another $100 million you lose.
By the way, here's a question for you.
Here's a question for you.
Let me ask you a crazy question right now.
You ready?
What did he sell it for?
$155 million.
What's his net worth?
$300 million.
I got a crazy question for you.
Say he beats Poirier.
Does he sell today?
Nope.
Hell no.
Watch this.
He beats Poirier.
Dana White comes back saying, I just had a call with Khabib.
Fight is set up, Cinco de Mayo.
Okay?
Fight is set up because he's calling out all the boxers.
He says fight is set up Cinco de Mayo.
Khabib against whatever, you know, Connor.
And say it's not even Cinco de Mayo.
He picks a different time, but it's going to be in Russia, but it's going to be a different place.
He calls the fight.
Okay?
And Connor beats Khabib.
What's proper 12 worth?
What's proper 12 worth?
Double, triple what it is, whatever he's selling.
I think it's bigger than that.
I think it's bigger than that.
Well, especially if he sponsors the fight on Cinco de Mayo with a billion dollar sale.
Wow.
I think it's a billion-dollar sale.
I think it's the difference between him being worth $300 million and him being worth a billion.
Wow.
I think that's how bad it's going to be.
How much that loss cost him?
Yeah, this is going back to what you said earlier.
Last night.
Yeah.
Two more years.
Exactly.
Come on.
Two more fights.
Two more in their world, right?
Two more fights.
So keep going.
It's crazy.
Yesterday we're sitting.
I'm like, you know, what's the difference between all these guys that are living in $10, $20 million homes and the guys that are living in one or two?
He says, what's that?
I said, they convinced themselves to go, say, two more years, five more times.
I don't know if that makes sense or not, which is like, I'm going to go tee it up for two more years.
And you don't go, two more years.
You go two more years, two more years.
Let it, you're killing it.
But you're like, ooh, what if I go two more years?
Oh, my God.
Boom, two more years.
And then you go two more years.
Like, oh, I never thought I'd be at this point right now.
Business sports, whatever.
Oh, dude, I don't know.
It's December 28th and it's business planning time.
I'm going to go.
What if?
I'm going to go.
You know what?
Two more years.
Connor needed two more big fights.
He would have been a billionaire.
He was two fights away from being a billionaire.
He beats Poirier.
He beats Khabib.
He's a billionaire.
Now he's worth $300 million.
Don't get me wrong.
He's still got a great life.
Okay, yeah.
But he would have been a guy from having welfare in, you know, what he was doing to ridiculous motivation for the world.
He would have been a billionaire funding whatever the hell he wants to do.
Because he's also a very smart guy.
People don't realize Connor is a genius.
Strategist, marketer.
Connor is brilliant.
I don't know what the guy's IQ is by the books, but the guy's IQ in the streets is at the highest level.
And in this part, it was taking the eye off the ball a little bit, cost the guy 700 million bucks.
When you said two more years, two more years, you know, the first person that comes to mind.
Tom Brady.
Exactly.
I was about to say that.
I'm just like, Tom Brady's on two.
The guy's going to be 45 years old.
Two more years.
He keeps saying two more years, two more years.
I just want a freaking Super Bowl.
I'm going to retire now.
Let's go get it again.
Can you imagine the guy who wins the Super Bowl?
Breeze retires.
The conversation is officially, it's not even a conversation, right?
So this guy keeps going, keeps going, keeps going.
He keeps staying to two years, two years, two years.
He tires everybody else out.
The conversation about who's the GOAT, dude, it's so over with that people are like to separation.
Forget it.
He's officially earned the right to say, by the way, his argument is bigger than Jordan's argument.
Let me explain.
The separation with Brady is a lot further than Jordan's.
And I'm a Jordan guy.
But the separation with Brady's argument is far ahead of Jordan's argument.
Why?
Because if Jordan would have gone two more years, he would have had eight.
And if he wouldn't have taken those two years, he would have gone two more years.
And if it would have been, that's 10.
Jordan's got 10.
No one's saying LeBron, Kobe, Will, Kareem, nothing.
It's over.
He would have had 42,000 career points.
He would have been a, you know, just ridiculous statistics.
So the two more year concept is, and it's tough because, man, you're worth $150, $300 million.
You're living in a sick house.
You're having caviar every night.
You're eating lobster as if it's freaking, you know, rice.
And you got the cars.
Everyone's like, hey, oh my gosh, no, nothing at our restaurant.
We don't charge you anything.
How do you get up at that point and drive it and do all this?
How do you do that?
The last 10 minutes of the last episode of the Last Dance documentary of him talking about, you know, we didn't even try to come back as a team.
We didn't mean he tried.
The team got exploded, but it doesn't mean he couldn't have rebuilt it or done something else again.
But the look of regret in Jordan's eyes, it was an eerie look.
Yep.
There's something to be said about longevity and sticking it out.
Because five, seven years ago, there was a debate who was better, Peyton Manning or Tom Brady.
And at the time, a lot of people would have said Peyton Manning back and forth.
At the time, or at least back and forth.
Now, the Mannings of the world, the Breezes of the world, the Marinos of the world, the Montanas, they're not even in the debate anymore.
Longevity.
And he's continuing to extend it.
Fictuitiveness is impressive.
By the way, he is creating a lot of enemies because people are like, retire already.
I have to sleep next to my wife.
And, you know.
She'd bring up your name.
Like, hey, did you see Babe?
What do you think?
You think he's going to win one more?
And you're like, I don't know, babe.
I think it's not good to be that narcissistic.
So what do you tell your wife?
Like, you're laying next to her.
What do you actually say to kind of give yourself power?
Do you say, you know, honestly, you think he's happy?
You think he's happy?
Because to me, marriage is more important.
I love you more, babe.
And the wife's like, yeah, I know you love me more, but that guy wants to.
It's like, imagine that French, you're late next year.
It must suck being compared to Brady.
I'm going to use your How about a six-year-old son, innocent son.
Hey, dad, someone in school said Brady's better than you.
I love you, Daddy, but why did Brady play five more years more than you did?
Imagine you're like, get back to him, give me that iPad, throw the Xbox in the trash.
It's tough.
You know, the one guy that can say, I'm better than Brady.
There's only one guy.
Here we go.
Eli Manning.
Gino Toretta.
Twice.
Eli fricked.
Gino Toretta.
Go ahead.
Gino Toretta.
I believe.
Eli Manning.
He beat Brady twice in the Super Bowl.
Well, you know, Brady, he blames everything on the mom.
On what mom?
Eli Payton's mom.
If it wasn't for Eli and Payton's mom, he would have had five more Super Bowls.
He says that all the time.
Oh, yeah.
If it wasn't for the mom, he would have five more Super Bowls.
Because she gave birth to these kids.
He screwed the whole freaking job.
But let's circle back.
This is a callback.
By the way, sports cards question.
Yeah.
Would you buy a Tom Brady rookie card?
Long.
Long, no problem.
Long it.
You buy it, sit on it for 10, 20 years.
That card's going to be a $20 million card in 20 years.
So it's undervalued right now.
There's no question about it, Brady's card sold for $1.3 million.
That's not a $1.3 million card.
That is a $20 million card.
I'm telling you, that car is going to sell for $20 million.
Watch the next 10 or 20 years.
That's a $20 million card.
I got two of them, bro.
No, you didn't.
I got two of them.
Two Brady rookies.
One BGS 9.5 and one PSA 9.
So Paulo.
Thanks to PVD.
Use the same checklist you used for Trump.
This, this, this, for Brady for a second.
Because the one thing that I can tell you that he hasn't done is shooting himself in the foot.
He hasn't purposely made himself more problems.
No, he did at the beginning stages.
I mean, he had to mature out of it and just kind of learn.
Because if you look at his interviews, it's always very, it's the most boring interviews you'll ever see in your lifetime.
I don't watch Brady interviews.
It's boring.
The only one that I like when I watch Brady interview, when they say to him, hey, what did you think when you came out?
He says, you don't think?
Watch.
I'm going to prove it to you.
Watch.
Have you seen that early Brady when he's in his early mid-20s?
When they read a scouting report?
It's the sickest interview.
He's like, watch what I'm going to do.
Watch what I'm going to do.
You're like, whoa.
What year in the league did he give that?
Four years in a league and he's doing an interview.
He already won a Super Bowl.
The other interviews, he said, who's your hero?
And he says, my dad's my hero.
And he can't talk and he starts crying within seven seconds.
It's a beautiful scene of Brady.
But Brady was, Brady learned to stay quiet when they did interviews.
So he learned to not create any kind of fight.
The Belichick school, of course.
You know what's beautiful about Brady?
When he still gets upset and frustrated when a bad play happens and he goes into a receiver's face and says, how could you drop that ball?
You know we practice.
And he still gets like the day you stop doing that is the day you're over it.
Like you've lost that level of, hey, you know what we're doing here.
How many times have we role-played this?
When the leader doesn't do that anymore, he's like, ooh, it doesn't matter as much as it did before.
You know, that doesn't mean you have more blow-ups.
I'm not talking about blow-ups, but he's holding expectations high from his people.
Standards drop early when you start winning too many times.
Okay, let's look at this here, where we want to go next.
Do we want to talk about LA opening up or do you want to go to China?
China.
You want to do China?
Let's go to China.
Okay, here we go with China.
All right.
Beijing asks Alibaba to shit its media assets.
China's government has asked Alibaba to dispose of its media assets as officials grow more concerned about the technology giants sway over public opinion in the country.
Hello.
Discussions over the matter have been held early, since early this year after Chinese regulators reviewed a list of media assets owned by Alibaba, whose mainstay businesses is online retail officials.
We're appalled at how expansive Alibaba's media interests have become and asked the company to come up with a plan to substantially curtail its media holdings.
Alibaba has, throughout the years, assembled a formidable portfolio of media assets that span print, broadcast, digital, social media, and advertising.
Notable holdings include stakes in Twitter like Weeboo platform, several popular Chinese digital and print news outlets, as well as South China's Morning Post, a leading English newspaper, English language newspaper in Hong Kong.
Several of these holdings are in U.S.-listed companies.
Such influence is seen as posing serious challenge to the Chinese Communist Party and its powerful propaganda apparent apparel.
Say the word right there.
Apparatus.
Okay.
So thoughts on China.
Dude, I mean, they're not even freaking hiding it at this point.
Like, it's not even like, well, I wonder what they're doing.
I mean, there's a smoking gun right here.
They're basically saying there's no free press.
There's no fucking First Amendment here in China.
There's no, you know, free speech.
They are completely curtailing it.
They're seeing what's happening, you know, especially in the social media side of things, big tech in the U.S.
And they're saying, hell no, we are not allowed on that here in China.
The CCP controls that.
I think that's pretty, it's pretty funny that they, quote unquote, asked Alibaba to dispose of its media assets and asked the company to come up with a plan to substantially curtail its media holdings.
And they were quote unquote appalled at how expansive Alibaba's media interests are.
They said, get your ass in the principal's office, sit in the chair, do what the hell I'm going to have you do, or you're going to go and end up like Jack Ma at a re-education camp and not be seen for a couple months.
I mean, this is the biggest difference.
When we talk about China's, you know, potentially being the number one economy in the world and they're going to surpass the United States, be careful what you've wished for with China leading the way for the rest of the world.
It's not a democracy.
It's an autocracy.
They don't give two F's what the people have to say.
So if you're cool with 1.5 billion robots following what Xi Jinping basically decrees, then go have at it in China.
But nobody wakes up and says, one of these days, I'm going to make it to China and I'm going to live a better life in China.
Hell no.
That's still America's place on the planet.
So we need to recognize that I think Bill Maher said something like this.
He said something like, there's got to be something in between, you know, an authoritarian government that tells everyone what to do and a representative government that can't do anything at all.
So an authoritarian government, like in China, will tell you what to do.
And, you know, we're fighting between amongst ourselves here in America.
We got to do better, but China is not the direction we want to freaking go.
And that's a case example right there that they're not even allowing a media, you know, a big-time company to quote unquote voice their opinion.
This would be like saying Jeff Bezos, because Jack Ma is basically the Jeff Bezos of China.
That's the best analogy.
And what publication did Jeff Bezos buy?
The Washington Post, right?
And he has the freedom to do whatever the hell he wants with the Washington Post.
You want to go liberal with it?
Go liberal with it, bro.
You want to get more conservative?
Go get conservative with it.
But do what you want to do, but not in China.
Sorry, Jack Ma.
Sorry, Simon Hugh.
Sorry, Eric Jing, these people that are running Ant Group and Alibaba.
You're going to follow our lead or get the hell out of the way and go to your re-education camp.
Is this a forecast of what's going on in America?
They're canceling their media assets.
What's going on over here in America, canceling Twitter accounts, canceling our freedom of speech?
You know, every time I reflect back on my military experience, two deployments with the 15th Marine Expeditionary Unit, and every time I traveled across the world on these deployments, how much I appreciated America.
How much more I said, you know what, America is a great place to be.
We got roads.
We got this.
We can that.
Things that we can say easily here in America, I think a lot of people take for granted because you try that type of stuff in China, you're done.
You talked about Jack Ma and the re-education camp.
Where is Jack Ma?
Where's a lot of characters at?
Where is Jack Ma?
Where's Jimmy Hoffa?
Where's Jack Ma?
And so when you're looking at America, that social experiment we talked about a minute ago, where coming out of high school, wouldn't this be an amazing type of social experiment that before going to college, take a chapter out of the Mormon playbook there, serve for two years.
Yeah.
Serve either the military, do public service, do a nonprofit organization for two years, see how much you appreciate the rest of the world, then come back to America and talk to me about how much you don't like it over here.
My thoughts.
That's powerful to be thinking about that.
And both of you guys made a lot of good points, but I will tell you one thing here.
Kudos to Bill Maher.
Bill Maher's been pushing the envelope a lot lately.
Bill Maher's been saying, hey, don't join this cancel culture.
Hey, you liberals out there.
And he's a hardcore liberal.
and believe in God religiously the document or video that he did he went to religiously yes Yeah, so religiously.
So I respect a lot of Bill Maher today.
You know, I think the other day I was having a conversation with Gerard Heron.
He's a comedian out of New York.
And Gerard used to be part of the team.
You remember Gerard G, Big G?
Oh, yeah.
Yeah, he was part of the team.
And, you know, he was talking about, he says, this era eliminates Rodney Dangerfield.
It eliminates Tim Allen.
It eliminates all the famous Seinfeld, eliminates a lot of the legendary Republican and independent comedians.
You have to be very careful today because there's an audience of 100 million people that like the conservative comedian, that like that jokes that they make, right?
You can't have those comedians today.
So why are they getting their comedy today, right?
Why should they not have the competition today?
It's a dangerous place to go, but today, more than ever, Bill Maher's are important.
By the way, by the way, there is no Bill Maher without HBO.
So you have to give some credence and respect to the fact that HBO hasn't canceled Bill Maher.
It's not like Bill Maher says diplomatic, politically correct things.
Bill Maher goes off the charts and he says some stuff.
You've never heard HBO saying we're going to cancel Bill Maher.
They've stuck to Bill Maher.
Respect for.
By the way, HBO will do hardcore socialist documentaries and shows.
They'll do center.
They'll go right.
They'll go there.
I mean, obviously they're a little bit more left and they're on the right.
But still, you know, they leave Bill alone.
They don't say, hey, you cannot say something like that.
And we'll say, dude, no, no, Bill is Bill Maher, right?
I think we need more Bill Maher.
We need more Jon Stewarts today.
We need more guys like that that are being vocal because, or else, the next thing we're looking at is what?
A China situation.
What they got going on.
Clamp down.
Allow me to say one thing about Bill Maher, and this is why, I mean, I love the thing.
You sent the thing to me the other day, which was funny.
Not China, ironically enough.
You know, change oftentimes happens from the inside out.
Yeah.
Okay.
So what do I mean by that?
It sometimes takes a Bill Maher, who's certainly a liberal, to say, hey, woke crew.
Hey, cancel culture crew.
I'm on your team.
But enough's enough here, bro.
Like, it takes someone who's, you know, voted Democrat to say, are we really freaking doing this with the taxes?
Are we really going socialism to say that on the inside, the change we need to do?
So same apparatus here, use that word on the Republican side.
You know, Democrats saying, well, you guys need to do this and you guys need to change and you need to try.
No, it sometimes takes an Adam Kinsinger or a Liz Cheney or a freaking Pence, whoever, to say, we need to do better here in the Republican Party.
We need to understand that this is why we lost.
Because it's a lot easier to change things from the inside when you're on the team versus sort of throwing stones on the other side of the aisle.
So kudos to Bill Maher saying, guys, look, I'm on your team, but enough's a freaking enough here with the wokeness and the cancel culture here.
Let me make a point here.
Watch this.
Dominic Matic, right there.
He just commented.
Look what he says right there.
I want you to read that comment.
And I'm going to read it out loud.
So I just lost all the respect I had for Pat.
Okay.
Bill Maher says one good thing and Pat ignores his entire history of what kind of businessman as you if this is how you think, right?
Okay.
So Dominic, you are just as much part of the problem as he is or anybody else is.
Why?
Because you cannot entertain a good thought by somebody you disagree with.
You are the problem.
The problem is folks on the right who cannot give credit to a comment made by the left that makes sense and folks on the left that cannot give credit to somebody on the right that makes sense.
That is exactly why we are where we are right now.
Exactly.
You have officially joined the crowd of you know everything and everybody else is an idiot.
Everybody else is not an idiot.
They have a reason why they got to the point that they got.
That's exactly what we don't need more of, but unfortunately we have.
And Dominic is probably a guy where he and I probably agree on 90% of things.
Okay.
All I'm saying is I would much rather have what he's doing than what a Kimmel is doing.
Look what Kimmel is doing.
100% of what Kimmel says is taking shots at anybody that is not part of his political party.
Correct.
Look what Fallon is doing.
Fallon is doing whatever the TV show executive producer tells him to say.
Stephen Colbert.
Colbert.
Stephen Colbert is a true believer.
Politically, I don't agree with where he's at, but he actually believes in what he's talking about.
Fallon is not as hardcore left as opinionated as a leader.
I don't even think he's because I actually think Fallon has Republican friends.
I think Pat Fallon's a Democrat, but I think he's got Republican friends.
So he's kind of respecting that.
He doesn't like the controversy is my take on him.
He doesn't want to.
But we need more people like Amar.
We need more people like a Shapiro.
We need more people like a Stewart.
We need more people like that that are challenging both sides and we leave them alone.
We need more Bill Burrs.
Yep.
Bilbert gets up there and he says what he said.
Like, oh my gosh, I can't believe he said we need more Chappelles.
We need more Seinfelds.
We need more, like, you know, we need more of a George Carlin.
We need more of that today.
Carlin's a conservative.
Carlin would have been crushed today.
Carlin would have been canceled 50 million times today.
We need more Rogan.
We need more, like, we need that.
So one moment you're like, well, where is he?
Well, where is that?
We need more of that because they're processing.
They're trying to get better and smarter, right?
Versus, boom, I'm already in a bad thing.
Are you talking about entertainers?
Not entertainers.
That people that bring up issues make you think.
And then for the rest of the day, you have a discourse that comes in.
Push the envelope.
They make you think.
Yeah.
I'll give you a case example.
I'm no Fox News fan.
I'm not even a Tucker Carlson fan, but I watch Tucker.
And there's certain things that I'm like, he's sort of like a pompous prick.
But damn, he made a good point right there.
Like, I got to give him credit for that.
I think Ben Shapiro reminds me of a lot of kids that I went, I mean, a lot smarter, but a lot of kids, Jewish kids that I grew up with in Miami.
And I don't necessarily agree with everything Ben Shapiro says, but damn, he has a good point right there.
Damn, maybe that WAP stuff was a little too much, and he's got a point right there on the card he beat.
Like, damn, rather than no, I'm a Democrat and I would never listen to what a Tucker would say.
I would never listen to, like, dude.
And at the same time, like our friend that we just talked about right here, how could you listen to Bill Marpa?
We're about to go back up.
Let's see if we're going to be back up.
A thousand dropped off.
Should be back in Roman China.
Okay, let us know if you can see it.
Are we back?
Pat got canceled.
Okay, we're back.
We lost about a thousand people that were with us, but for those of you guys that are still with us, please share.
Please share.
More power to you.
We're back.
Okay, let me get back to the point.
I want to give a shout out to the thousand and 1700 people who stayed.
Yeah.
They said, look, these guys are doing their thing today.
We got Sappo on.
Pat's rolling.
Yeah.
We're not dropping.
Yeah.
We'll wait five freaking minutes.
We'll come back.
Yep.
Even Soyboy made a few points today.
Jen says we see you.
Okay, babe.
That's good.
As long as you see me, it's good to go.
Okay.
So going back to the point about the NFT, right?
Card NFTs, and the point I was trying to make.
Can you think about the last fad that went away, was explosive, and it went away and we forgot about it.
Last fad.
Last fad.
Like financial fad or fashion fad?
Financial fad, any kind of fad that came and left.
Like the starter jackets that Matt likes to write.
Okay, but give me a fad that came and left.
Okay, think about financial fads or any fad.
It was explosive and then left us.
AOL.
Okay.
Instant messenger.
I think that's technology, but fine.
What?
Baggy jeans.
Like I'm talking about.
Dee Katarishi.
There we go.
Just think about it.
Give me a fad that came and left.
Huh.
Okay.
Came and left.
Fads.
Fads.
If you're watching this, do you remember fads that came and left?
Okay, came and left.
Mario, go to the fad site I just sent you because I want to make a point to you.
Okay, so here's the fads in the last go to view gallery: 40 fads.
Oh, I got something because Eric wore it the other day.
What's that?
He wore affliction.
What's affliction?
Affliction.
Oh, my God.
Affliction.
It was the biggest thing.
Okay, perfect.
Affliction.
He wore it the other day.
I was like, bro, what are you living in?
Well, he had a haircut the other day.
I think him and Paul went to the same barber, but that's a Galera.
Okay, go to the fads.
Hacky sack, 1980s.
When was the last time you saw Hacky Sack?
Are you your kids playing with Hacky Shadow?
That's a hippie, a hippie party.
Garbage pill kids.
I don't even remember.
That was my card.
Okay.
1980s, wrestling.
Oh, God.
You can't forget.
I don't think it's a fat.
Jelly shoes.
Adam, you have jelly shoes.
No, you don't wear the crux?
No bells.
Smurfs.
Are smurfs a fat or do people still collect smurfs?
I don't know about the smurfs.
Okay, keep going.
80s.
Don't remember these things?
I remember these things.
Keep going.
Don't worry about like tight toys.
Care bears.
Care Bears.
Care Bears Stead.
It's a favorite title.
Is it still here or no?
It is an outsales organization.
Keep going.
Rubik's Cube.
Is it a fat or is it still here?
I think it's still here.
Okay, keep going.
Keep going.
Boombox.
Boomba.
Gangster.
Gangster.
Keep going.
But not house music.
House music is here to stay.
Cabbage.
By the way, go back to a boombox.
Sam, order a nice boombox for us.
Order one of those 80s boomboxes.
Keep going.
Keep going.
Cabbage Matt.
Patch Kids.
Is it a fat or is it still here?
Cabbage.
Cabbage Pat.
How about Furby?
Just keep on.
Go on.
Okay, keep going.
What's that, Gizmo?
Fanny Pack.
For sure.
Somehow it's still here.
It's back.
You were considering buying a merf.
I would buy a cross.
There's a name for it.
It's called the cross.
There's a name for it.
If you put it.
Across your body?
No, there's a name for it.
A merf.
A fan purse.
The fanny pack was for a CD player.
Or where you would put it?
Your Walkman.
Yellow headphones to your Sony Walkman.
That's a fad.
Remember those?
A Fanny Pogs.
Waterproof Sony Walkman.
Crossbody.
Crossbody.
Okay, crossbody.
Keep going.
Overalls.
Fad?
Gone.
Did you ever wear it, though?
Of course.
Of course.
I had them too.
By the way, there was a bad one.
With one on.
Flapped out.
That's very crisscross.
Joe's about to say.
Backwards.
Vanilla Ice, Mark Wahlberg.
If you think about it.
Okay.
How about Pogs?
Anyone remember Pogs?
I remember Pogs in high school, right?
But when's the last time you saw Pogs?
Push Pops.
Remember push pops?
Yes.
Okay, keep going.
Poly Pocket.
I can see you having a Poly Pocket Adam.
Okay, temporary tattoos.
No, everyone's doing the real ones.
Okay, that's a good point.
Spice Girls.
A couple of them are still in fashion.
Yeah, Jinko jeans.
Remember Jinko jeans?
By the way, Mario, did you ever have Jinko jeans?
Who here wore Jinko jeans?
Anybody ever?
Did you wear Jinko jeans?
Did you really?
The baggiest jeans on the planet.
How long did Jinko jeans last?
A solid five years.
A solid five years.
Like 95 to 2000.
If you wear Jinko jeans right now, what will people say?
Bro, what are you wearing?
Hiding a shotgun in your pants?
What are you doing?
Keep going.
Butterfly clips.
Mario used to wear those.
I've got daughters, so it's still in.
Still in?
Really?
Okay, keep going.
Keep going.
Live strong.
Well, I mean, this was definitely for different reasons.
Yeah, big time.
Keep going.
Okay, energy drinks.
Between Paul and Mario, they keep them in business.
I think energy drinks are still around.
I don't think it's a fat.
Flash mobs.
That was a fat.
We did one in Vegas.
You correct.
PHB deflected.
So flash mobs.
Are you still seeing flash mobs happen?
Okay, keep going.
What else we got?
High school musical.
Not since Zach Efron left.
Okay, keep going.
Mario, keep going.
MySpace is fat.
Friendster.
Hardcore fat.
Digital cameras.
And Lindsey Lohan.
Fat.
Wow.
Shout out to the mean girls out there.
Wow.
Von Dutch.
This is very affliction-esque.
Von Dutch.
Paris Hilton's a fad.
Would you say she is?
We have done.
One season.
Razor scooters.
Do you still see those?
I just don't see those, yeah.
Okay, so we see the Bratz dolls.
No.
These things I never liked.
It's kind of like, you know, what are you trying to promote here to young girls?
You know, I see what you're saying.
I like these.
Oversized sunglasses.
Fat or are still people doing it?
No.
Kim K, those are gone.
Cronuts.
Dude, what?
Cronuts?
Like a croissant donut?
What's a cronut?
I guess that's what it is.
Okay.
Remember, Coney, this thing lasted for 90 days.
I don't know if you remember this.
Do you know why it stopped, though?
Do you know why it stopped?
Do you know the story or no?
No.
Well, go research it for yourself.
So this guy got caught doing something in the street, and the cops got him.
Gotcha.
And it's a pretty extracurricular activity that young boys do a lot of.
So, 2010, flower crowns.
Okay.
Keep going.
Mario's got some fire clothes.
Harlem Shake Dance.
You remember that?
Of course.
LeBron and Chris Bosch and all those guys that won the best ones.
We got a viral video in Mario.
Digit Spinners.
I still got them.
You still got it.
Okay, keep going.
Shutter shave.
For sure, Fed.
Go.
Next.
Internet Challenges.
Still a fan.
Still going.
Still going or still going or no more.
We got a challenge.
Keep going.
Got to keep going.
What's a challenge?
Dress debate.
What is a dress debate?
What is a dress debate?
Pokemon.
Oh, it's still going.
Keep going.
Tiny sunglasses.
Okay, I don't know about that.
Our friend Marcelo still rocks, though.
So here's a question.
Here's a question.
A real question.
When's the last time we had a financial investment fad?
When is the last time we had a financial investment fad?
Bitcoin, is it a fad or is it here to stay?
I think it's here to stay.
Okay.
The tech boom of the late 90s was anything with a dot com at the end of the day.
A guy sold an NFT, a digital picture for $69 million.
Crazy.
Okay.
And you know where you store it?
In your phone.
You can't put it up and show it to people.
You can't say, oh, on this wall here, let me show you.
Here's what's supposed to be there.
You don't see it.
It's just a white wall, but let me tell you what's really there because it's digital.
You just don't see it.
But I want you to appreciate this digital thing that you cannot see.
So is it a fad or is it here to stay?
Are NFT or are crypto blockchain cards, videos, highlights of LeBron NFTs?
Are they here to stay?
I think they're here to stay mainly because there's a way for the artist in the detainer or the creator of it to still monetize the royalties.
I think it's here to stay.
I think it's going to revolutionize that income source for something that digital music and digital entertainment took away.
I think it's here to stay.
Fair enough.
Adam, what would you say?
I think anything with the word digital in it is pretty much not going anywhere.
Okay.
Right.
So you're saying NFTs are here to stay.
I think something that you always talk about is your Picasso story about the guy.
He went in and got the picture with the Picasso and then he fabricated it and then, oh, look at the last Picasso.
And this enables that not to happen.
Yeah.
But also part of art and part of baseball cards is look at this.
It's on the wall.
Check it out.
Take a look, guys.
Feel my card.
It's like, what do you pull up my phone?
Go to realtor.com.
Go to realtor.com.
And go to realtor.com.
Go to Boca Raton.
Filter five miles.
Go value $5 to $10 million.
Okay, type in Boca Raton.
I'm going to show you something.
So homes today, you go see them.
What's the typical style homes you see today?
Today, like newly built homes.
Like modern.
They're more Mediterranean or more modern.
More modern, yeah.
Okay.
More modern, yeah.
So if you go to price, just go to price and go put $5 million and up.
Go $5 million and up.
I've been here for 24 hours.
Put on the meat.
Just put 5 and keep putting zeros.
Six zeros.
One more.
Okay, there you go.
Just search.
Okay, that's okay.
And up.
So go.
And he's going to.
So I call Boca Raton the land where you can just spend stupid money.
So then go to the first one.
Go to the first one.
Look at this house.
God, that's great.
Click on that.
Go inside of it.
Oh, Mario, we just looked at this house.
It's crazy.
Okay, that's exactly the house.
Okay.
This house was built when.
Mario, you and I just looked at this house last week.
Okay.
This house was built when?
2001, right?
Click on the image to get bigger.
Now let's go inside the house.
Keep going.
I like how they put the VA loan zero-down mortgage.
Veterans, go buy this thing.
Let's go inside the house.
Let's go inside the house, Mario.
Go inside the house.
Mario, inside the house, bro.
Okay.
Watch this.
See those pillars?
Those pillars.
That's 01.
That's not today.
Scroll up, Mario.
It's 01.
You don't see pillars today like that.
Those pillars, the four pillars, that's 01.
Look at those pillars.
Look at the floor.
It's beautiful.
It's timeless.
But it's 01.
Keep going.
Keep going.
Like this, you don't see a lot of this today.
Keep going.
It's cool to me.
Okay, go back up, go back up.
Elevator?
Go back up?
Not that much.
Mario, just two back up, buddy.
Just too.
Okay, go back down to where we were with the image.
Oh, my God.
Keep going down.
Go to the sink, the green sink.
You're three away.
It's perfectly away.
Right there, right there.
That's old school.
You don't see that today.
Okay, that color stone is what we're talking about.
The sink, where you wash your hands, yeah, you do see that, but maybe not that color today.
You see the mirror?
You don't see that mirror today.
Go up a little bit?
You don't see that mirror today.
Go lower to the wine cellar.
You don't necessarily see the bricks like that today.
You do, but not all the time.
So Mediterranean homes are a fad to people today.
Today it's more modern.
So back in 01, that was a fad.
So that's a fad.
Now, the kitchen, they upgraded.
Look at that.
That's a new kitchen.
That's not an 0-1 kitchen.
I can guarantee that was built in the last 12 months to increase the value of the house.
Look how modern that looks.
It was a gorgeous kitchen.
Look at that.
They spent a quarter million dollars in that kitchen.
One thing I don't like about it, the kitchen, as you're cooking, you're facing the wall.
I like having a kitchen.
You're facing everybody.
I agree with you.
I agree with you.
But the point is, this is a fad.
Fashion fads, investment fads.
Some people thought Bitcoin was a fad, but it's here today.
And it's not just here today.
It ain't going away.
It's popping.
And they just made a prediction saying this one guy made a prediction saying by 2023, Bitcoins are going to be what, $5 trillion.
And by 2030, market cap, 2030, he's predicting it's going to be $20 trillion.
Today it's about $1.2 trillion.
So that means it's going to 4X in the next two years.
And it's going to roughly 9X in the next 10 years, nine years, right?
Bitcoin's not going away.
Are digital cards going to go away?
No.
Now, we're how old at this table?
Everybody starts with the number four, right?
Starts with the number four.
40.
Sopala's 42.
You're 42.
He's 42.
He's five.
He's aging backwards.
But you come to a house, I want to see a nice painting on the wall.
I like that.
Does Dylan like the paintings on the wall in your house?
Dylan, not so much.
Come on, Dylan.
Why, Dylan?
Dylan does not like this.
Dylan, you like this house?
I hate this house.
Why do you hate this house?
Why is there so many naked paints?
Oh, women.
It is an aggressive amount of naked ladies on your wall.
Life that you painted, though.
Life size, too.
Listen, I obviously can't invite my pastor to my house.
Say, can we have a Bible study at the house?
Come on.
Put it in the backyard.
We're not going to.
Don't come in.
Don't come in.
Sorry, anyways.
Hey, to the phone.
What was your point with the NFTs?
The point I'm trying to make is I don't think it's a fad.
I think it's here to stay.
I don't think it's a fad.
I think people have to respect it and have to understand that there's going to be a lot of money being made with NFTs.
I like to hold the card.
I just got a one Soto.
I just showed you the black label.
I like to hold Roots card that I have.
I like to hold Bill Chamberlain's rookie card, Joe DiMaggio's rookie card.
Ted Williams, I like to hold these cards.
Zion Williamson, three out of five, National Treasures.
I like to hold that copper.
But there's not a major difference in holding the card and holding your phone with a card.
No, it's a difference.
So, PBD, what's the smart money, though?
Okay, you're talking about a $69 million NFT.
If I'm a typical guy watching this right now, what's the smart money there?
What's the smart money play?
The money smart play.
Oh, you just have to know.
MSM.
Don't get emotionally tied to investments.
Don't get it.
Yeah, don't get emotionally tied to investments.
Be logical when it's coming to investments.
Like whether you agree with it or not, it's not going away.
It's here to stay.
By the way, I'm going to answer this last question.
I promised I was going to answer before we wrap up the podcast.
We got the dream team coming up here in a minute, so we got to wrap up.
But I want to answer this last question here.
We had Carlos Morales.
By the way, if you got questions, go to Twitter, hashtag PBD Podcast, ask your questions.
We're about to wrap up right now.
But he asked this question.
He said, Pat, if passion isn't required, then how does one become more successful if there's no passion?
You love baseball cards, yes, but how did you start PHP agency in order to be successful?
Here's me and my phone account trying to communicate with you.
Okay, Carlos, let me explain my response to you about finance your passion, but run with the right running mates.
My passion behind PHP agency was in 2003 when I had a meeting with a man named George Will.
George Will got up on stage and he talked about the power of how lawyers are ruining America.
He told a story about a lawyer that sued a fish hook company because a kid swallowed the fish hook and died from it.
And the lawyer sued the official company, put him out of business.
They said there was no warning sign on there.
Can you imagine a lawyer put a business out because they didn't put a warning sign on official?
You need to know that you don't need to swallow this thing.
It's going to kill you.
Lawyer was able to put them out of business.
I sat there and I said, that doesn't make any sense to me.
Then he said, have you noticed how obesity is going up?
And he started giving statistic and he showed the statistic about how obesity correlates with the number of parks that are being shut down by cities.
Why are they being shut down by cities?
Because lawyers are sitting by parks and kids are going down the slide.
They're dropping, breaking their arm.
The lawyers going to the city, suing them for millions of dollars that the city doesn't have.
And the city finally says, shut these damn parks down.
It's costing us millions of dollars to pay lawsuits.
So kids are no longer going to parks to play.
And I said, lawyers are ruining America.
That does make sense.
And then him and I met and a friend of mine, advisor mind Bill said, I want you to meet this man.
And I met him and he says, Patrick's looking for passion.
At this point in my life, I'm doing okay with my life.
I'm making, you know, $400,000 a year income.
I'm on top of the world.
I'm about to get to seven figures.
I'm, you know, driving nice cars.
I have my girlfriend soon to be a wife.
Everything's going the right way, but I'm furious because my belly said, I feel like I'm put on this planet to do something bigger with my life.
All I was looking for was my next big purpose, not leaving the industry, purpose.
I heard that message.
George said to me, why don't you go study why immigrants come to America?
That's all he had to do.
Okay.
I left Carlos.
All I did is I study why immigrants come to America like my family.
Why do we come here?
And I realized what Iran didn't offer.
I realized the freedoms I didn't have.
I became passionate about capitalism.
I became passionate about entrepreneurship.
That became my passion.
I loved selling insurance because when I delivered one policy, death benefit, and I saw the reaction on a family, I'm like, wow.
I got in thinking it was money.
After a policy being delivered, I realized the impact we make in people's lives.
They go from, oh my gosh, another insurance guy to Patrick, thank you so much for selling us a half a million dollar policy.
We just, you know what just happened to us in Hawaii?
We lost two of our most amazing people.
One is a guy named Angelo Ruiz, who good looking.
He looked like he belonged in Hollywood, just full of energy.
Everybody loved this guy.
And Sebastian Vargas, right?
Sebastian Vargas, who just had a set of twins, him and Layla.
Love these guys.
Sebastian, like my younger son.
I mean, I've been working.
Anyways, so what happens to them?
Something happens to them.
They go by the, you know, an accident happens.
They fall.
It's a tragic story.
It was all over the place in Maui.
You know, one had a $350,000 policy.
The other one got a couple million dollars of insurance policy that's going through right now the process.
You know, of course we can't replace the family.
Of course we can't replace the loss of them.
But that experience now allowed the parents and the wife to mourn until they can go about their business.
And those kids have money set aside for college where they don't have to go out and rely on the government.
Life insurance, I fell in love with the industry.
But the passion was capitalism.
The passion is collection.
The passion is other things.
I benefited from the right running mates.
I benefited from being in the right environment.
I benefited from that, working with people that were sitting there saying, hey, how about we do this?
How about I benefited from that?
And then I ran and did my own thing and I had a vision, right?
So the point I'm trying to make to you when you're listening to this, there is nothing more powerful than the right running mates.
Nothing more powerful than the right running mates.
There was a quote I read 19 years ago.
It said, sometimes on a way to a dream, you get lost and find a bigger one.
Sometimes on a way to a dream, you get lost and find a better one.
That's awesome.
I work with a guy named Cisco, changed my life.
Drill Sergeant Green, phenomenal guy to be in business with.
I learned from Jamie.
I learned from a guy named John.
I learned from a guy named Jeff, a guy named Rich, a man named Greg.
I learned from this.
I learned from a guy named Brian.
I learned from all these guys.
I'm learning.
I'm going, learning, learning, learning.
And then all of a sudden, I'm like, okay, my vision is this.
If that vision is not being, then I got to go.
And then we went and played ball.
Then capitalism got into the heart.
And then there were too many controls with the company.
Then I said, I got to make my own move.
But the point is, passion was capitalism.
The impact was insurance.
And then later on was, now let's put a killer team together.
Everything I do when I wake up in the morning is the team.
Everything is about the right team.
Now it's about us finding the right team.
And the right team allows you to finance anything you want to finance in your life.
Anything.
I guarantee you, Carlos, you find the right running mates that you're around and you're a guy that's a worker and improves.
Five to 10 years from now, I whispered something to Mario the other day.
I said, Mario, do you realize within the next 20 years, you're going to be worth XYZ?
He's looking at me saying, you're serious.
I said, 100%.
I said, the only thing you can do right now is screw this thing up.
That's all there is to it.
You're in the right environment.
Mario's Rolodex with who texts him and calls him.
If you saw Mario, who he texts and calls, you would think Mario is either a secret service agent, you would think he's a parole officer or some other people.
You would think Mario is working for the DEA, maybe the CIA, potentially connected.
You would say that's a pretty legit, how did that happen?
Right relationships, right environment, right running mates.
So you find the right running mates.
I'm betting your life's going to change here very soon.
And if you want to collect butterflies, you can.
If your passion is water bottles from the 70s, you can.
If your passion is collecting Elvis Presley's guitars, you can.
If your passion is collecting, you know, original 4T model, whatever, you can.
If that's your passion, you can.
If your passion is racing cars, you can.
But you have to fund it by running with the right people at the right time to make that kind of money.
Anyways, good podcast today.
We lost a few hundred people that were with us.
But the guys that came back, hey, if you enjoyed today's podcast, we went many different ranges today.
We may have come up with an idea that could save the state of California.
I don't know.
We may have found something to do with it.
The tourists.
TTT tax the tourists.
Sopaula, thanks for visiting Florida.
We're going to need 5% out of you.
No problem.
He already paid for it.
He already paid for it.
Of course he did.
Of course he did.
Okay, gang.
I don't know if we're doing it.
We're not doing it this week, right?
I want to try matters.
We're not doing it this week because we have board meetings.
And remember, I said if we get to 100,000, we will figure out a way to make a stronger calendar for this.
We are 48,300 subs away.
So if you haven't yet subscribed to this, please do so.
Sopala, I know you have like a sign out that you usually do whenever you're done doing your episodes.
Maybe that's something we want to grade them.
Yeah, no, I think you do the never above you.
I think you do that one and grab your own.
This is something that Sappalo does.
And everyone, you know, enjoy it.
First time I heard it, I said he's going to do it forever.
