PBD Podcast | Guest: Tom Ellsworth (Biz Doc) | EP 68
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Patrick Bet-David Podcast Episode 68. 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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About the host:
Patrick is a successful startup entrepreneur, CEO of PHP Agency, Inc., emerging author, and Creator of Valuetainment on Youtube. As a natural critical thinker, Patrick takes complex leadership, management, and entrepreneurial ideas and converts them into simple life lessons for today's and tomorrow’s entrepreneurs.
Patrick is passionate about shaping the next generation of leaders by teaching thought-provoking perspectives on entrepreneurship and disrupting the traditional approach to a career.
Follow the guests in this episode:
Tom Ellsworth: https://bit.ly/3pvFrLT
Adam Sosnick: https://bit.ly/2PqllTj
0:00 - Start
5:48 – eBay bans sales of adult-only items
8:15 – ‘Big Short’ Investor Michael Burry back on twitter
24:50 – PBD Vegas gambling story
27:09 – Morgan Stanley chief to bankers
41:40 – Elon Musk lists his ‘special place’ in San Francisco
55:15 – Parenting experts: Raising kids with high self-esteem
1:13:12 – Hunter Biden is starting full time artist career
1:25:29 – Ronaldo causes Coca-Cola to lose $4 billion in market value
1:33:58 – Trump set to visit boarder before Kamala Harris
1:51:40 – The Vault 2021
Are we allowed to tell people that you're in New York City?
Oh, we're back here.
We are officially allowed to be.
Are we allowed to tell people you're in New York City?
No, you're not allowed to.
I want you to tell them.
I failed.
Don't tell anybody.
I was in New York City.
Nobody needed to know that you were in Italy.
No, we're in South Florida, which only feels like New York City.
Everything has to do with this mango.
Have you ever had somebody walk up to you?
Tiffany just walks up and says, Yes.
Here's a mango.
Yeah.
I'm like, what do you want to do with it?
Five minutes before you.
So, Tiffany, if you're listening to this, thank you, Tiffany.
I appreciate the mango to start off with.
And now mangoes.
Yes, we got value taking place.
You know what they say about mangoes, though?
Here we go.
If your man ain't treating you right, you got to let that man go.
Oh, really?
All these jokes.
I'm going to tell the Mrs. Bizdock.
What do you call your wife again?
The Bizdoc babe.
The Biz Doc babe.
Yeah, let that man go.
Biz Dog ain't treating you right now.
By the way, somebody said they're running late.
I got to give a shout out to FA's comments.
FA said Pat forgot to fill his tank and is waiting on Triple A to fill it up.
There we go.
The other day I'm going to, what do you call it?
Global.
Global what?
Global global global entry?
That's what's called global entry.
So I'm going to global entry in Fort Lauderdale and I'm driving down.
You got it now.
First of all, the traffic is insane going over there.
And the bridge at Boca, when it goes up, at least it's like two minutes.
The bridge by the port that went up was 20 minutes.
It was a massive bridge.
Oh, Port Every Glade.
Whatever it is.
Yes.
Port Everglades, right by the FLO.
I'm waiting for this thing to go.
Finally, I make it.
By the car's at zero at this point.
I have no, for about 15 minutes, I've been at zero miles.
And I post a picture.
And I'm like, it's over.
This is going to be like my 50th time.
I'm running out of yes.
And I'm optimistic.
It's the attitude of an optimist.
I think we're going to make it.
I think we got 10 more miles on empty.
I think we can pull this up and do the impossible.
And you know what?
The Shelby said.
The Shelby said, you're right.
The moment I found this gas station, thank God for the chevron right off the bridge.
I pulled up, the truck turns off.
Turned off.
Turn off.
So that's what happens when you run out of gas.
You ever had anybody?
No, I'm in an opening.
Here's what happens when you go and it goes like this.
Just kind of like choking.
And I'm like, choke a little bit more.
Boom.
Made it to the, what do you call it?
The pump.
And I drove up to it with the cars off, filled up the tank.
It would only let me fill up the tank because it's the big Shelby.
I was only able to put $100.
Got back in and took off.
And I went to the TSA Pri.
Watch this.
I pull up.
I'm 25 minutes late.
Caroline calls to tell him he's late.
The lady gives her the biggest attitude, right?
And I go in.
I don't have a mask on.
I'm late.
I'm already like fleeting.
I'm like, oh my gosh.
Strike one, strike two.
Strike two.
And I've all, you know, because I was with them for 10 years.
I missed one appointment and I haven't had it for the last year.
So I've just been using clear.
But again, clear TSA is better than just having clear.
Pull up.
Are you Bet David?
Yes.
Follow me.
Like, yes, ma'am.
Nope.
I said, ma'am, I'm so sorry.
I said, sorry.
You know how late you are?
I told the lady that called me, don't even bother showing up.
You're lucky we're meeting with you.
I'm like, I totally apologize.
I was, and you know, all the stories.
She's like a sale instructor.
When you say, my cat get my homework, you know, I'm telling those stories, but it's the real stories.
I'm like, I'm telling you.
How many of you guys are the biggest?
Yeah, yeah.
I've heard all those excuses.
I'm like, oh, fair enough.
So I sit down.
Then the next lady comes up.
She gives me another attitude.
I'm like, okay, how are you?
Where are you from?
I'm from everywhere.
Oh, yeah, me too.
I've been everywhere too.
So tell me where everywhere is to you.
And it's like, zero personality, right?
Finally, he gets done.
And I say, ma'am, again, I apologize about being late.
Do not be late five years from now when you have your appointment.
I said, I will see you in five years.
Five years.
Will never see me in five years because when you're coming, I will never be here.
I'm like, okay.
I don't know what sounds like she's happy to be there.
I get in the car, I'm leaving.
The next day, I'm interviewing Michael Malice.
Michael Malice is, what do you call it?
He's the guy that is the anarchist.
I don't know if you heard of Michael Malice, the anarchist.
So we sit down, we're debating.
He is a full-on believes in anarchy.
He thinks that America is a better place without a government.
And we're going through.
He says, have you ever seen how the government treats you when it comes onto customer service?
I said, absolutely.
As a matter of fact, an hour ago.
So you were going just for a TSA appointment, not for your flight.
No, no, I was just going for yesterday.
I went for my flight.
Two days ago, I went for, you know, for to getting.
So we'll see what's going to happen.
Hopefully, we'll.
No, no, no.
He was going in.
The second most valuable number you have outside of your social security number is the number on the back of that global entry card, which is your TSA pre-number.
It is ridiculously valuable.
All right.
So let's get into it.
Gang Super Chat.
You already know the deal.
When it comes onto Super Chat, it's good to be with you.
We got a lot of different topics to go through.
Apparently, Ronaldo cost Coca-Cola $4 billion by simply saying Coca-Cola is not good to drink.
You got to drink water.
And he simply moved it one moment.
We'll talk about that.
Hunter Biden is starting a career, full-time career as an artist and is selling.
I've already purchased multiple paintings.
Sometimes my favorite artist.
I can see there's a picture of a hunter.
Half a million a piece.
Oh, this says artist.
This should say lobbyist.
Let me just write that.
Hunter Biden.
Artist to be.
He's going to be an artist selling his pieces to $500,000, which if you speak to the mob, the mob will tell you that's a business model.
That is a business model, which we'll get into here in a minute.
That's exactly right.
That's when a small local dry cleaner does $2 million a year.
And the mob is like, they bring the clothes.
We take the clothes.
I asked all of you.
I asked all of you what your favorite story was of the day.
And we obviously know what Adam's favorite story was.
If you haven't heard, folks, a catastrophic announcement was made yesterday by eBay.
eBay bans the sales of adult-only items moving forward.
It's a catastrophic.
It's got a lot of stuff.
It was a trending topic.
Walked in today.
He's on the street.
I actually was going to buy you a gift.
I was going to get you a nice dildo, but I owe you one now.
But Adam, have you seen that guy that goes around representing like he's the media and he's interviewing guys and he puts the dildo on their media?
So tell me, what do you think about what Trump said to you?
And the guy is like, what damn.
You know, I follow WorldStar because every once in a while they posted some of our short clips, but every once in a while, they like the mob stuff and the Kobe stuff.
So they post and Ric Flair stuff.
But sometimes the post they have is just out of control.
I'll be in the bed sometime, like going through it just to see what's going on.
Something pops up, babe, what do you watch?
I'm like, babe, I promise you I'm watching WorldStar.
This is watching the Hochie's.
It's dildo interviews.
That's right.
It's epic.
So apparently they're not going to be able to buy it on eBay anymore.
So it's going to be a challenge.
So Morgan Stanley, Chief to Bankers, if you want New York City salary, you need to be in New York City.
That's going to be a good one to get into.
Spotify clinches a $60 million deal with Alex Cooper for her Color Daddy podcast, yanking it away from Barstool.
And then Dave Portnow yesterday gave a shout out to Barkley.
If you ever want to be here, we would love to have you here.
You can say whatever the hell you want to say.
Because Barkley yesterday announced the fact that he's sick and tired of his job because it's getting so uncomfortable.
All they ever talk about off-camera is what you can say and what you can't say.
And he says, you can't have fun with this anymore.
He says, I can't wait to retire in two years.
Barkley's words.
We'll cover that here in a minute as well.
There you go.
Big short investor Michael Burry is back on Twitter and warning of the biggest market bubble in history.
Want to raise your kids with high self-esteem.
We're going to talk about that because the parenting experts got something to say about that.
That.
We'll see what that is.
And then Putin and Biden say progress made in Geneva, but wide gulfs on issues remain.
And Donald Trump visits the border before Kamala Harris.
And maybe we'll cover LeBron James's tweets about injuries.
Kai, do we have those Nancy to make the different logos?
Have we had that created?
Okay, good to go.
So let's get right into Michael Burry.
How about that?
I think Michael Burry's always got a good thing to say that makes people think Michael Burry from Big Short.
What page is it on?
Page six?
Let's get right into it.
Michael Burry, Big Short.
Kai, let's pull up a picture of the infamous Michael Burry.
Let's pull up his picture of the family.
You gotta love this guy.
I love this.
He's not a freak.
He's a regular looking guy.
He's a regular looking guy.
Big short investor, Michael Burry, is back on Twitter and warning of the biggest market bubble in history.
This is a market insider story, suggesting that his concerns about rampant speculation only grew during this 10-week hiatus from Twitter.
People always ask me what is going on in the markets, the investor tweeted.
It is simple.
Greatest speculative bubble of all time in all things by two orders of magnitude.
Flying pigs 360.
The hashtag was likely a reference to a famous saying in investing: bulls make money, bears make money, but pigs get slaughtered.
Burry has repeatedly told investors, and they're being too greedy, speculative wildly, speculating wildly, shouldering too much risk, and chasing unrealistic return returns.
The scion asset management chief deleted his Twitter profile in April after sounding alarm to Tesla stock, which he's short, as well as GameStop, Bitcoin, Dogecoin, Robinhood, SPACs, Inflation and Border Stock Market, broader stock market.
So having said that, Tom, do you agree with what Michael Burry is saying?
I mean, this is not a guy that just throws comments like that out there.
Right.
No, I think he's correct on a couple axes.
And the question is going to be: is which sectors pop, right?
Which sectors, I don't mean pop up, which are the classic pop of the bubble?
Because there are three factors right now.
Inflation is low, but everybody's talking about it going up.
You look at the number of times it's mentioned in the media.
You see all those charts.
People are talking about inflation.
Interest rates have continued to be at historic multi-year lows, which makes debt cheap.
So you've got three problems.
One, I can get all the capital I want.
Asset prices get inflated.
Speculation is there.
We've already talked about people taking the millennials and the Z's, taking their checks and open a Robinhood account rather than using it for anything or paying their parents' rent.
And so I think he's right.
You've got all these things that are driving up speculation in the market because there's so much capital out there.
Debt is ridiculously cheap.
And, you know, I think he's right.
The question is going to be: where does a correction happen?
Does a correction happen in real estate?
Does a correction happen in energy?
You know, where does a correction happen?
And I, right now, you know, my eyes are on real estate because what's happening in real estate, there's a really bad side of it that's happening on rents.
And so I think the government's got to step up.
But I think he's right.
And so what will be the pin that pops the bubble?
I don't know.
But I'll tell you, I think he's right.
What do you mean by rents?
It's off, by the way.
What do you mean by rents?
Well, what's happening right now is if you take, you know, you and me, maybe we buy a small house and we're going to have it as a rental, right?
Now, if we pay 50, 60% cash, you know, we probably keep the rent at some current market moderate.
But, right, even at low interest rates with debt, we look back and we do the math on it and the rent needs to be 5%, 6%, 7% higher than it was a year ago because the underlying asset cost us more to buy.
And there's a payback model.
We're not trying to gouge renters.
It's just the payback on it.
So I'm looking at rents that are being driven by housing prices.
It's interesting that you bring up rents and real estate because if you actually look at essentially what is named here, he's talking about Tesla stock, GameStop, which we all experienced the beginning of this year.
And I interviewed the founder of Wall Street Bets, who had very strong opinions on everything that was going on with GameStop.
He names Bitcoin.
He names obviously Dogecoin, Elon Musk, a little friend right there, Robin Hood, SPACs, which we cover a lot.
Inflation, which the Fed just came out, and Jerome Powell had some words to share on inflation.
Yeah, maybe I will.
Maybe I will.
And that's what I'm thinking about.
And the broader stock market.
So he names all these asset classes that you said could pop, pop, you know, pop the bubble.
I think it's just interesting that you, he didn't name real estate, but you instinctively said, well, you know, maybe the real estate here, because when was where did Michael Burry make his name for himself?
Is when he basically called the subprime mortgage meltdown in 2008.
He basically bet against America.
And if you ever saw the movie with the big short with Brad Pitt and yeah, well, Hollywood glamorized it, but what he was pointing out was there were bad mortgages in bonds and there was insurance on those bonds.
And that combination was the classic line that was in the big short.
It says, if this, the bond, was the, what was it?
If the bond was the, you know, was the match, then the insurance that was on the bond that was 20 to 1 insurance was the nuclear warhead.
And it was, he was right.
No.
He was right.
He said there were crap more.
By the way, if you're watching this right now, I'm curious, if you're watching this right now, how many of you your rent has increased?
I just looked at an article right now.
Rents for single-family homes just saw the largest gains in 15 years.
This is a June 15th story, which is two days ago.
And when they say gain like a stock, what they're really saying is the rent increase.
Yeah.
Increase.
Yeah.
So single-family rents were up 5.3% year over year in April, rising from a 2.4% increase in April.
5.3% rent went up.
That means if I'm paying $2,000 a month, now it's $2,100, right?
If I'm paying $3,000, that's $3,150, which you may say, Patrick.
I don't think that's that big.
That's going to make a lot of money.
That's another two-thirds of a month.
That may be not a lot to you.
Remember, the guy that's making $50K is going to see this.
Yeah, that annual gain in nearly 15 years regionally by top 20 metropolitan markets.
Rent gains were highest in Phoenix and then lower prices, 75% less mentioned.
Let's do super fast math on your example, Pat.
You said for people listening, $2,000 goes up 5% is $100.
That's $1,200 a year.
So now you're on your way to adding almost a $13 month to that rent.
See that?
To the average person?
So here's how that looks.
If you go, let's just say they increase $2,000, $50, says $1,200 a year.
If a person's making $50,000 a year, what's $1,200 to them?
Is that 2%?
That's 2%, right?
2.5%, 2.
Yeah, 2.5% of their income just went down.
That's pre-tax, obviously, right?
That's pre-tax.
So even if I go post-tax, let's just say that's a 4% decrease.
I need a 4% range.
Imagine you go to your company and you go to your company and they say this year we're decreasing everybody's salary by 4%.
You may not feel it, but you're going to feel it, right?
Because for that middle America low-income family.
And then it's not only this, gas goes up.
Everything is pretty much going up.
So you're only seeing one aspect of expense.
People are going to see it in other places.
Again, if you're watching this and your rent went up, I'm curious.
Has anybody felt it anywhere?
UK, one person said their rent went up 5% in UK.
Mark Sesch just says my buddy's rent went from $1,360 to $1,700 in Mesa, Arizona.
Anyways, we're going to see what's going on.
That's a big number.
Time to find a new apartment.
He's also in Mesa, Arizona, where there's high demand.
Back to Michael Burry.
Is this someone that you would want to get his perspective on value attainment?
Is this someone that you think?
We've spoken to Michael Burry.
Michael Burry doesn't want to do an interview.
But if Michael Burry wants to do an interview and we'll just do audio, we will all day have him on here.
I would love to have him on, no problem.
Because I think the guy's counsel and the way he sees stuff, you're not necessarily 100% right, but you have to get perspective.
And to me, I think eventually, if you've been in this game for a while, let me give you an example, okay?
Sports.
Can you see when a tide's turning, when the team's about to make a comeback?
Yeah, literally last night, Philadelphia versus Atlanta.
That was ridiculous.
What just happened?
Philly was up 20, then they lose by seven.
They're up 26 in the third quarter with three minutes left to the better.
The betters in Las Vegas said there's a 99.7% chance that Philly's winning and they lose it, right?
But you start noticing.
People are playing sloppy.
People are getting nervous.
They're missing free throws.
Michael Burry is that guy in investments.
You have to listen to what he has to say.
It's that simple.
When he says it, he's got a point.
And I think if it does happen, it is not going to be pretty.
Here's the only thing to be thinking about.
This is just my thoughts on this, on what to be thinking about.
Is it fair to say every 10 years we have a crash?
Correct.
Is it fair to say every 10 years we have a crash?
It's part of the cycle.
Let's go back last 10 years.
What was the biggest crash in the last 10 years from 2011 to 2021?
Biggest crash.
Obviously, the COVID.
COVID.
You're right.
Okay, perfect.
Go from 2001 to 2011, the biggest crash.
2008.
The great recession.
2007.
Yes.
Go 1991 to 2001.
The dot-com bubble.
The dot-com bubble, right?
99.
Go 81 to 91.
What, 88?
87, 88?
87, 88.
Recession.
If we go every decade, there is a crash.
Here's the only differentiator.
Here's the only differentiator.
So the only differentiator is if you make 20-year runs, you're not affected by it.
That's correct.
If you're making 20-year investments, you're not affected by it.
You're only affected by it if you're volatile, GameStop's going to make me a billionaire and I'm going to make my money off Dogecoin.
If you're playing that speculative game, many are going to get their tails handed to them.
But if you're playing the long game, you may lose 30% of your portfolio.
You may lose 20% of your portfolio.
Long game, you're going to be.
This is the difference between day trading and decade trading.
Right?
I mean, day traders, this literally goes back to his quote where, you know, bulls make money, bears make money, pigs get slaughtered.
So if you're just all in on Bitcoin, all in on Dogecoin, you think it's going to the moon, you know, there could be a crash landing sometime soon.
Yeah, like you say, sorry to cut you off, BizDog, but you say about value attainment.
I'm on a 20-year run here.
I'm doing this for 20 years.
So a video you do today might pop.
It might get a million views, or a video you do next week might crash.
But you're in this for 20 years.
Who gives a shit?
Things will happen.
Yeah, you know, you look at it this way.
So 529s are out there, which is a picture.
Correct.
Exactly right.
So when Bailey was younger, I left it in what's called age, and it was TIA Kreft that was managing it because they were the sponsor for California.
Every state's got a different financial provider that does their 529.
So when Bailey was there, I had on age, age-synchronized risk, which means when she's in kindergarten, the risk that they're allowing to be in the investments that are in there automatically, I don't make the decisions.
I just say, I'll take the age.
Kind of like a target date funding.
Correct, that's exactly right.
So what happened was, yeah, she lost 30% of her poor little 529 when she was four years old, probably.
How old was she?
Four years old.
Okay, yeah.
Now it's bounced back.
And that's right.
Now it's back, and it's tripled since then.
Bailey's a millionaire.
No, no, she's not a millionaire, but she's not going to have student loans for a bachelor's.
I'd say that's a good dad right there.
No, no, no.
Her grades are insane.
Go ahead, Tom.
And then what I did was I flipped the switch on age-synchronized risk when she was a freshman because I was thinking about the traders and maybe the synchronized risk with their looking at the current market.
And I moved it to, you know, market index funds and that, which is another choice.
The age-synchronized risk has been more volatile.
And I'm like, wow, they're age-synchronized risk.
These are people that are supposed to be professionally managed target date funds.
And even them, PBD, are, you know what I'm saying?
They're a little too crazy.
But Brooks Fund, I don't worry about it because if it pops right now, it's like 2008 for Bailey and then it's going to be back.
But I think that even I'm seeing, so I'm seeing in Wall Street, just in the 529s, I think there's more, you know, optimism and riskiness, even at a time where they're supposed to be managing it according to a target date fund.
So what's your advice to the young people out there who are just starting to have kids and they're basically setting up these 529 plans?
Look, the taxes are going up.
And so if income taxes are going up, there's more reason to live moderately and to get 529 protection for some dollars for your kid.
And take the long view.
Take the long view.
Yeah, I mean, listen, here's the point.
You're working day to day, you're going to get crushed.
You're working long term, you're going to be all right.
If you're going to be constantly emotional, buying, selling, buying, selling, buying, selling, you're going to take a hit.
But the reality part of it is, take a look at Ken Golden from Golden Auctions.
This is a collectible cards, auctions.
He just raised some money last year.
Do you know how much he sold last month in cards?
Just last month.
Bloomberg contacted him to do a story.
You know how much he sold last month in collectible cards?
What do you think he sold just last month?
Did I tell you the number of people?
No, no.
What do you think he sold last month, total collectible cards, just last month, auctions?
I'm going to make a wild, wild guess.
Just remember, like this guy was doing a couple million dollars a month.
Then he went to $5 million.
Then he had a record-breaking month.
He did $10 million.
What do you think he did last month?
I'm going to say with all the capitalists out there and everything that's happened, did he touch a billion dollars?
Billion dollars a month.
No, that's a correct.
I would say max 50 million, 100 million.
He did 50 million last month.
Wow, it's old.
But you know what 50 million is?
Up from a million, though.
Guys, you know what 50 million is?
50 million is $51 million cards.
It's $100,000, $500,000 cards.
It's $1,000, $100,000 cards.
I don't think people rent like $50 million.
And you've got half a dozen.
$100,000 times $10,000 is a million.
Times another $10,000 is $10 million.
So $100,000.
You're talking about the guy's selling so much right now because people are willing to buy cards today.
They're not going away, right?
But is that going to be the case if the market tanks?
I don't know about that.
Long term, are they still going to be great investments?
Non-duplicatable assets will always keep their value.
We need to add non-duplicatable assets to do that.
Non-duplicatable assets.
That's it.
Non-duplicators.
What's it like to have a calculator in your brain?
It's like to have a calculator.
You're literally like, you know, you.
I missed one of them up when I said 50 million times 100,000.
But you do have a calculator up here.
I'm like, let me bust out my calculator, dude, and get it.
You've got something going on up there.
500 times $100,000 cards.
That's what I was going to say.
It's $500,000, $1,000, $100,000.
Those days to drive you nuts, but you're on the big run.
Yeah, if you're on the long, like, listen, you're building a business.
You have a bad day.
You had a bad sale day, but you busted your tail.
Don't worry about it.
Now, here's the thing.
If you had a bad sales day, but you didn't bust your tail, worry about it because habits are what gets you destroyed long term.
Because you were living easy and living assuming.
Isn't there a bigger story here, a bigger metaphor for whether that's investing, whether it's relationships, whether it's health, whether it's trading cards, whatever it is, that you're going to have good days and bad days.
But overall, if your perspective is positive and you're here for the long run, things are going to work out well.
Obviously, if you work hard and you're all right, BizDoc sneezing on the day.
If you do your part, if you get emotional, no.
If you're constantly getting rattled, no.
If you're constantly like, what'd you say?
What happened?
What did he say?
If you're constantly, what did the market do?
Oh my gosh, take it out.
React, This goes back to your stoicism that we talked about last time.
Well, you know, no, and also what he talked about a minute ago about what asset class are you playing in?
If you're in a if you're in a very risky sandbox that doesn't have natural scarcity for what's in there, non-duplicatable assets with natural scarcity, real estate on the beach, scarcity, right?
So it may crash and everything, but that's the part.
But the scarce stuff that will be in demand is going to come back first.
And so, but if you're out there, I'll give you an example.
If you're out there on GameStop and you're just living with the guys on Reddit on one stock there talking about retail purchase of games at a time when games are all in the cloud, I think that is foolishly risky because there's nothing to come back when the party's over.
You know what I will say?
If you're under 20, cards, if you're under 25 and you're doing it, go at it.
If you're under 25 and you're doing it, go at it.
You're going to learn something.
You're going to learn something.
Listen, I was $25 and $49,000 in debt.
You know what I did one time?
Let me tell you one of the dumbest things I ever did in my life.
You ready?
Is this the Vegas gambling story?
This is the dumbest thing I did in my life.
I'm 25 years old.
I'm 20 Freddy Chakoon.
So this is what?
I'm 23 years old.
Okay.
I go to Las Vegas.
I'm trying to say, when I get my Morgan Stanley job, I got a 9-11.
So it's a week before I'm at Morgan Stanley, 9-10.
So this is 9-3-0-1.
How old am I?
9-3-0-1.
22 years old.
Okay.
I got an MBNA credit card.
I go to Las Vegas.
I said, screw this.
I want to make some money.
So my MBNA card allowed me to take out $5,000 cash.
So I take the whole $5,000.
I go at the table.
Paying 20-something percent.
And this is at a time where I'm sitting there.
I'm wearing this tank top.
I'm just like chiseled.
I'm in great shape.
And this is the Greek God day.
And the cashier says, cashier mistaking me for somebody else saying, are you here for the, what is it, Vivid Convention?
I don't know what it was.
Are you here for AVN convention?
I said, what do you mean?
It says, are you here to, because are you one of the actors?
Yeah, that's.
You're nominated, actor of the year.
So he brings the other guy.
Sorry, I know you finished second.
So they're doing all this stuff.
And we're having a lot of fun together.
And then I said, guys, I'm going to make 30 grand today, period.
I take the $5,000.
Ask me how long it took me to lose the $5,000.
Yeah, what, 5 minutes?
30 minutes?
Yeah, gone.
By the way, $5,000 may not be a big deal to you right now.
No, it's a big deal.
When you're 22, you got $1,000 in your bank account savings.
You have nothing else.
You don't have a four-wheeler.
And you put $5,000K.
It's insane.
And you leave and you're like, at this point of the game, I got nothing left.
I got nothing.
At age 22.
22 years old and I'm going back and I'm going to go back into the Army.
This is a screwdriver.
I'm going back in the Army.
On the drive back, I get the call saying, Dave Kirby has offered you a job at Morgan Stanley Dean Wooder.
I said, you got to be kidding me.
I started a week after I lost 5,000.
The luckiest and unluckiest.
Let me tell you, it was a weird.
After the call, I kind of need a job.
It's like, listen, I honestly have many options right now, but you know what?
I will take your job because I want it.
And then back in hand, you're like, no, no, I desperately need a job right now to make up.
So the point is this: look, when you're younger, if you want to do some stuff, great, don't make the big, stupid mistakes that you're going to pay a price for 20 years.
You're going to make a mistake, you're going to pay a price for the next three to six months, whatever.
Not the 20-year type of mistakes.
But long-term, if you're investing long-term, you don't have a lot to worry about.
Morgan Stanley Chief to bankers.
Well, now, speaking of Morgan Stanley, Morgan Stanley Chief to bankers.
If you want New York City salary, you need to be in New York City.
This is a New York Post story.
James Gorman issued a stern warning to his staff Monday, come back to the office by Labor Day or face a pay cut.
Since the pandemic first started, the banking giant permitted its 70,000 employees to work from home.
But with 70% of Big Apple adults vaccinated and an infection rate that's not even half a percent, Gorman said it's time for workers to get off their couches and back to their desks.
The chief executive also sent a sobering message to workers who escaped to far off locales to write out the pandemic.
If you want a New York City salary, you'll have to be in the five boroughs to earn it.
If you want to get paid New York rates, you work in New York.
None of this, I'm in Colorado and working New York and I'm getting paid like I'm sitting in New York City.
Gorman barked.
A similar move has been adopted by Facebook, which told employees if they want to keep working outside of San Francisco or New York, they'll have to take a pay cut.
What do you think about this, Adam?
I mean, I'm not sure why he said if you're why you're living in Colorado, because they're all in Miami.
You have no idea how many New York finance are down in Miami living the time of their life.
But you'd be amazed how many are in Colorado.
I'm sure there are.
But I'm saying the people that I know who knows.
They're because they're skiing.
Goldenbergs.
They might be there for a week.
They're going to Aspen.
I can't tell you how many people I know from New York, especially in the finance world.
You're okay there?
I'm good.
You keep going, buddy.
You got that mango?
But they're all in Miami and they're having the time of their life.
The Goldbergs are in a Blattenberg's right now.
Exactly.
They're in an open state.
New York's been on lockdown.
I think they just opened up earlier this week.
So did California.
I was there.
You were there?
Yep.
I want to hear about New York.
And they're just having a great time.
They're making however many hundred grand a year and they're paying a fraction of what they were paying in New York and they're living their best lives.
And you got this guy, James Gorman, no relation to James Corden, who's basically saying, enough of this BS.
Get your ass back into the office.
You have until September, Labor Day.
So enjoy your vacations.
Enjoy your trip to Aspen.
Enjoy Colorado.
Enjoy South Florida.
By the time school starts, right after Labor Day, your ass needs to be back in the office.
The media doesn't get this.
And no offense, I even think you don't get it.
The reason.
The reason.
Come at me, bro.
Hang on.
Hang on.
Here comes a fast case study.
The reason Facebook was mentioned to recruit engineers to leave the university, to leave MIT or the University of Missouri or wherever it is you graduated from and come to those ridiculous, back to this again, housing and rent prizes in the Bay Area to compete.
They had to pay certain salaries.
So if you're in the Bay Area and the larger companies will tell you, hey, your salary baseline, and this sounded like a big number to people who are listening, is $100,000.
But here in the Bay Area, you're going to get $117,500 because it's a $17,000 cost of living adjustment that we give you for the Bay Area.
And they tell you, now, if you go to work in Atlanta at our regional office serving UPS and Delta Airlines and Coca-Cola on behalf of Google, you're back down to your baseline of 100.
They will tell you that.
And all they're saying here, he's saying, look, if you want the New York salary that we have to pay to recruit the best bankers, because we're competing with Goldman, we're competing with everybody else.
How greedy of you, the media says.
Just right.
How greedy of you?
So greedy.
How greedy of you to take this?
No.
Shame on you.
What he's saying is he didn't say you're going to get fired.
He said, if you want to go back and live and work in Colorado, that's fine.
But I'm going to baseline you for Colorado cost of living because to get you to come to New York and work in New York.
Is it fair?
I had to come to New York.
Is it fair?
It's damn fair.
You think it's fair, Adam, what they're doing?
Yeah, I do.
I do as well.
I think it's very fair.
And it's being spun like Gorman's this ogre that's taking.
I didn't even read it.
I didn't read it like he's being an asshole or an ogre.
I just said, look, if you're going to want to get, look, you get paid higher in New York City or San Francisco because the cost of living is higher.
The taxes are higher.
They get it.
The salaries are higher.
And you're going to be working longer hours, especially if you're working in finance in New York City and Wall Street.
What?
And by the way, Facebook.
Do you know how many people that work for Facebook that are saying, so, okay, so if I want to stay here in Atlanta, I want to stay here in Orlando, I want to stay here in Dallas.
I don't get my.
San Francisco wage.
No, you don't.
So that's fine with me because the cost of living is okay here, but I like working for Facebook and I got my job.
People get it, especially when there are a bigger.
Let me tell you what just happened here.
I was in San Francisco a few days ago.
Okay.
And we go for a walk.
We go to the Fisherman's Fisherman's Wharf.
Yeah.
Mario's never been to Alcatraz before, so we went.
It's an awesome area.
That's a beautiful place.
That's a beautiful place.
I knew you were there last time.
You was there.
You were there with your story.
The rock.
And we go and have the clam chowder, which is delicious.
You know, you have that whole clam chowder.
Did they put it in a bread bread for you?
Oh, my.
I told him, I said, you got, have you ever had this?
They said, no.
I said, you, Caroline, Sam, and Mario, you need to try.
So they tried.
So we walk up, we go across the bridge.
We go to the sushi, but not the best customer service, but we go up and we throw that in there for a little sprinkle of ghosts.
And we walk up all the way to the end, this one place by the water.
And I go up and there's a homeless man sitting there.
And I said, let me ask you, are there great white sharks out there?
Oh, absolutely.
Everywhere.
I said, do people swim here?
Everywhere.
I said, so what do you think about the city of San Francisco?
Well, it's not the same city it was before, but I still love this place.
But keep in mind, he's homeless.
He's homeless.
Okay.
He's homeless.
Box everything next to him.
But I still love this place.
What do you love about this place?
They still take care of their people.
Interesting.
Okay, great.
So he's got my syringes every Monday.
This guy is standing to my right, and he's listening to my 10-minute conversation with this homeless man.
He's in a beautiful bicycle, but he's not saying anything.
So I walked this way and I said, what's your, he says, I listened to the whole conversation you had with him.
I said, what's your story?
He says, I'm on the complete opposite spectrum.
I said, really?
What's the spectrum?
He said, I own the biggest condo right here on the water.
I said, really?
By the way, just so you know how much that is, you know how much that is.
You're talking about $30, $40 million number.
It's not like the biggest condo on the water in Fisherman's Wharf area.
Yeah, $20 to $40 million is what you're paying.
Just go look at realtor.com, right?
His bike is a $10,000 bike.
Everything, he's got the leather jacket on.
And he starts saying, he says, well, this is not the same city it was two years ago.
Let alone 10 years.
I said, why?
He says, things have changed a lot.
It's changed a lot.
During COVID, what they did is they got, I said, you know, I came over here from Morgan Stanley Training and I stayed at the Mark Hopkins Hotel.
He says, well, you wouldn't stay there today.
I said, why is that?
He says, because the mayor decided to allow homeless people to stay at the Mark Hopkins Hotel and they negotiated a rate of $250 and they got free parking that they gave to the homeless people.
And the city, the local people living here, the taxpayers paid for it.
I said, you're kidding me.
He says, no.
I said, so how do people respond to it?
He said, well, first of all, Mark Hopkins Hotel, they're going to take the business because it's homeless.
No one's staying at their hotels.
So they want to take some of the money.
He says, but it's not the same thing.
That was their COVID relief plan.
I said, so how do you feel about the policies here?
He says, well, you know, I understand what they're trying to do.
He says, you know what else is the problem?
Everybody that's getting out of college that's coming here for a job, they want $180 to $200 a year starting salary.
I said, $180 to $200.
College grad.
He says, yes, because if you're not making $180 to $200, you can't survive in the city.
So they're asking checks like that, numbers like that, right?
And they're getting paid because Facebook and Google are competing for engineers.
I said, so tell me about stores.
He says, what stores?
Everything's shut down.
We don't have stores.
I said, why is it so dead?
I don't see anybody here.
He says, there is no stores.
Everything's on lockdown.
Stores are on lockdown.
He's going through the whole thing.
I said, I got a question for you.
He said, yes.
I said, you got a $10,000 bike.
You got an expensive jacket.
You live on the condo on the water.
I know how much that thing goes for.
You look like you're a hundred million dollar guy.
Politically, do you lean left or right?
Pointed question to him.
Yeah.
He says, Well, you know, it's a little bit probably, I used to be a Republican, then I became a Democrat, and I'm an independent living over here.
I said, How do you think the policies have done to the city?
And he tried to defend the policies for he tried it so hard.
I said, All of this is not the people, is not the president, is not anything but local policies that are no longer working for people like you.
It's not working for you anymore.
I said, How much longer until you leave this place?
I don't know, but I can tell you it's not the city I fell in love with.
It's my favorite city in the world.
And I came here with the dream of being able to live here for the rest of my life, but it's not the same.
He says, Okay, all right, good talking to you.
I said, Great.
We walked off.
They walked off.
Two different people.
One is loving the policies.
The other one is not loving the policies.
Here's the reality of it: one's homeless, one's worth a hundred million.
Which one?
It's so crazy.
He said, Homeless people are coming here by the left and right.
Homeless people are coming to San Francisco because what do you mean you're putting me at the Mark Hopkins Hotel for free?
What other homeless person wouldn't come here?
People would volunteer to be homeless to stay at the Mark Hopkins Hotel.
Yeah, give me the name of the hotel again.
That's exactly.
By the way, Mark Hopkins Hotel is where Clinton stays at.
It's where President stays at.
It's not a regular stay.
It's a beautiful hotel.
You stay there, right?
So it's a hotel for the homeless.
This is a great.
We saw a wedding up at the top floor.
It's called Top of the Mark.
This is the story of what's going on to a city like that.
And people who are running now, Morgan Stanley Dean Woodard, they're starting to realize: listen, you don't want to be here working with me?
No problem, buddy.
But I'm not paying you the same.
And I 100% support the decision.
And I'm not firing you.
I'm just going to pay you to.
Well, he can't fire them.
No, but he can't fire them.
I mean, if they fired them right now, you know what kind of a publicity story they would have if they fired their people?
Would you all over the news?
Would you put a bow on this story?
Because we talked about Morgan Stanley, we talked about San Francisco, we talked about the homeless.
What's the overarching theme here?
Where are you going with all this?
As you would say, what's your point?
Yeah, the point is policies hurt great cities.
That's right.
So your policies push people out of a great state.
I'm on a flight yesterday to New York, two days ago, to New York.
I got back last night at midnight.
Guy sitting next to me is the insurance guy of Ernst Young.
And I said, so what do you do for a living?
He says, I work at Ernst Young.
I said, what do you do at Ernst Young?
I'm their insurance guy.
I said, okay, cool.
Which office?
New York.
I said, really?
You're still in New York?
He says, oh, no, I'm in Florida.
And he's watching CNN.
It's so funny.
He's watching CNN and I got my ESP and I'm watching him with the guy CNN on.
He goes, CNN, MSNBC, CNN, MSNBC, CNN, MSNBC.
That tells you which way he leans politically if he's going to CNN.
So it's very easy to read people now.
They see an NMSNBC, right?
So I'm watching him and I said, so what are you going to do with New York?
You're going to stay there?
He says, oh, no.
I said, why not?
He says, look, COVID forced me out and I've been in Florida and I'm staying in Florida.
It's going to be very hard to get me to go back to New York.
I said, so how do you feel about the policies in New York?
What do you think about the policies?
Well, well, you know, I know what they're trying to do.
You know, it's great.
I think they have to be taking care of their people and all this stuff.
I said, but why don't you support those policies and go live there and pay the taxes to support what they're doing for people?
Well, you know, if I can find a way to pay less taxes, why wouldn't I to take care of my family?
I said, well, you support those policies, don't you?
Well, I do.
I said, so why don't you go fund those policies and stay up there instead of funding no policies in Florida because you're not paying any taxes?
I see where you're going with this.
But look, I don't know what I'm going to do.
I'm probably going to stay put in Florida.
Again, bad policies drive out talent.
That's not a lightweight guy.
That's a heavyweight guy that's working at the bottom of the country.
He's also the Ernst Young.
One of the biggest being careful talking to somebody that he doesn't know.
And he's looking at a house on his computer that's a $5 million house he's shopping for.
He's shopping for $5 million houses on his computer.
This is not a lightweight guy you're talking about, right on what he's doing.
Policies push out good talent.
You cannot keep bad policies that detract top talent.
And, you know, right now, who ends up looking bad right now?
A guy who's running Morgan Stanley, he's looking like the guy that's the bad guy.
You don't come back here.
Is that how you interpret that story?
I didn't necessarily speaking.
Not you.
I'm not telling you.
The market is telling the story.
The media is telling the story.
Why would you want your people to come back, let them be where they're at and get paid and give them the same salary?
It's not fair.
Well, I'm sorry.
It is very.
Every major company in America has an HR regional pay standard.
And they're not slum lords because they're competing for talent.
And if you don't pay what you need to pay for the talent in the various city, the other guy is going to get that talent.
So people think, oh, they're just going to do this or this.
No.
No.
These guys will say, if Morgan says, hey, we're cutting to 20% doing this, Morgan's going to lose the great traders.
Morgan's going to lose the great people.
They're going to go across the street.
Regional-based cost of living is real, and you have to pay that to get the great talent.
And what Pat's talking about, and I completely agree, is the local policies have such unintended consequences because what is the congressional re-election term, right?
Two years.
Every two years you're running.
And it's always a short-term, short-term policy, short-term policies.
Give me the votes.
Give me the votes.
And the unintended consequences are huge.
Willie Brown, when they had the Council of Mayors in San Francisco, Kamala Harris, Willie Brown?
Yeah, two decades ago, he was putting homeless on buses and sending them to Sacramento because it would take them three days to hitchhike back because they wanted all the stuff they were getting from the city for free, but he wanted them out of the visibility when all America's mayors were there because he was polishing the image for the short term.
And so when you do this with the Mark Hopkins, you're probably reducing homelessness in Sacramento because they're up there.
You know, it gets like 104 degrees here in the summer.
Yeah, I know.
I'm going to Mark Hopkins in San Francisco.
The homeless people know what's going on.
And they're just moving to where the policy they think is going to help them.
Well, I mean, listen, Elon Musk just sold his last house in California for $37.6 million.
Yeah, the San Francisco.
The San Francisco house.
It's like lots of lots.
It's 50 acres.
It's 50 acres.
It's 16,000 square feet.
It's a beautiful place.
Yeah, it's the last property he had to sell.
People are leaving.
They're going to buy that and make it a boutique hotel.
It's a huge property.
People are leaving.
It's that simple.
That's exactly what they're doing.
People are leaving.
Not because of culture, not because of bad industries.
Not because of any of that.
We got to tell him he's screaming and hollering.
Not because of any of that.
They're leaving because of bad policies.
Very simple.
When my kids ask me a question, they say, hey, daddy, who are we voting for?
What do you think about this president?
What do you think about that president?
You know, somebody in school, you know, they're going to school and somebody in school told me that Trump is for rich people and Biden's for poor people.
Who should we be for, right?
He's explained, he's asking this.
I'm having these types of conversations with my kids.
It's interesting because you see the teacher saying certain things and these kids are coming home and they're sharing it with you, right?
I said, look, kids, it's not never the individual.
Forget about the individual.
I don't look at the individual.
I don't care if the individual does whatever they want to do.
You don't care if they drink alcohol.
That's not my business, Daddy.
That's their business if they want to drink.
But if you produce policies that produce negative results, that's when I become concerned.
I said it's a policy war.
It's nothing more than policies.
So when people ask, which president do you like, they'll say, I disagree with Biden's policies.
Six-year-old Dylan, seven-year-old Dylan says, I don't agree with his policy.
What percentage of America do you actually think thinks that way?
No, man.
What are you talking about?
20%.
Less than 20%.
Yeah, I would say way less.
Yeah.
No, Only reason I say 20% is because one in five makes six figures in America today.
So I would say 20%.
I think it's a 20% number who's actually sitting there thinking about it.
Who's actually sitting there saying, here's what we have to be thinking about.
Anyways, let's go into the next story we have.
Since we're talking about parenting, why don't we read this parenting story?
Page seven.
Kai.
Do you see the donation?
Kai, I can't hear you, Kai.
I cannot hear you.
Turn on Kai.
Donations.
Take a quick look at your donations.
What happened?
I haven't seen it.
Super chat.
Super chats.
There's some people here.
It's a good point.
What's that?
The point.
What super chat mean?
Sergeant Wilkie.
Whoa, whoa, whoa, whoa.
Bring him down, guys.
Bring him down.
Go ahead, Kai.
No, the Super Chat.
He says, the real issue is people coming from the places like Texas.
Florida and Texas.
And will bring the same mindset that brought the policies that ruined their state, the one they're running to.
The mindset needs to change.
Sergeant Wilkie, you're 100% right.
I'm giving you 10 times what you just gave right now on the Super Chat.
He gave 20 bucks.
Let's give him $200.
Let's give $200 to Sergeant Wilkie.
Sergeant Wilkie, send us a text at 310-340-1132-310-340-1132 so we can send you your $200.
I 100% agree with Sergeant Wilkie.
This is why states change.
This is why states change.
The biggest thing I say is the following.
Just look at policies, man.
I had a conversation yesterday with a couple of my guys, and here's what I said.
This was Tuesday, our weekly Dream Team call that we do right after the podcast that we did.
And here's what I said to them.
I say, how do you judge people?
Actually, think about it.
We can hear you guys.
How do you judge people?
How do you judge people?
Actually think about how you judge somebody.
If you were to say, how do you judge me?
How I judge you.
How do you judge Tom?
How do you judge Kai?
How do you judge David?
How do you judge Sam?
I'm wearing a sick denim jacket.
Sam doesn't wear his vest anymore.
I don't know what the name of the game is.
How do you judge people?
Used to be a vest guy.
It's summer.
Good looking.
How do you judge people?
I think, you know, the old-fashioned saying, don't judge a book by its cover.
But I think a lot of people will, you know, first impression is a big deal.
Well, I mean, are you asking a rhetorical question?
I hope you realize that judging people favors you.
Oh, thanks.
Because people look at you and they say, you know what?
This guy's got a cool bike.
He's riding his bike.
He's taking Ubers.
He's riding a settler's bike.
I think, you know, they say if you go on a date with somebody.
He likes cats.
He likes cats for sure, too.
If you go on a date with somebody, how do they treat the servers?
Okay.
How do they treat the how you treat others?
Let's actually make a list.
By the way, Kai, Sam, David, I'm going to ask all of you guys, how do you judge people?
Folks, I want you to also participate in this.
I want you to answer the question, how do you judge people?
Okay.
Your boss, your cousin, you know, a stranger, a new person.
So number one is how you treat a stranger.
Is that fair?
Is that what you just said?
Okay, you go to a restaurant with a girl and you see how you talk to the waiter.
How you treat people and the valet.
Quote unquote below you or serving you.
How you treat people below you.
Or my mother would always say, I treat the janitor the same way I treat the president of the company and your mom for her.
That's like her whole thing.
What else?
How do you judge people?
Guys, this is time.
Let's judge people.
How do you judge people?
By the way they dress.
By the way they're dressed.
Okay.
Look, dress.
You're talking about someone by the shoes they wear.
Okay.
By the way, they dress.
We all have to check our shoes out there.
I had to tell Eric, our friend Charlie Delera to throw away his boat shoes that he's been rocking.
I saw that.
What else?
What other ways?
Kai, how do you judge people?
I mean, this is similar to what Adam said, but when people can't do anything for you, I think that's an easy way to judge people.
But what else?
How do you judge people?
Another one is people, how you judge someone that might not like you, but does that necessarily affect how you judge them?
Okay, a little technical.
But what else?
Like, how do you look at somebody and you say, that person's successful?
How do you know?
I think their language, the words that they use, the way that they speak, are they talking eloquently?
I listen.
Well, speak up, BizDuck.
What's up, dog?
You're judging me?
No, I listen to their language.
They're pretty judgmental guys.
I listen to how they say what they say because you'll see a billionaire sitting next to you that is not wearing the big watch.
He's got a little Apple Watch.
He's got things.
And he is not trying to flash it.
What they say.
But I like to hear how they talk.
I like to hear the words they say.
Who they hang out with?
Who they hang out with?
What else?
I'm just looking.
Let me look at some of the people.
I mean, speaking of Kai, what accent they use?
Let's look at this.
Once you find the accent, are they Americans?
Somebody said- Once you find out where they live, you know?
Okay, everybody's saying, Kai, can you speak up, please?
Character, K1 said skin color and race.
Do you actually judge people based on skin color and race?
Do you think people judge people based on skin color and race?
That's what would be called prejudice.
Okay.
No, it's sort of baked in bias that people have from how you grow up.
Pat, our good friend, you would probably appreciate this one, Pat.
And how they smell.
It's a big deal for you.
I'm a big, like the other day, David ordered a sandwich with onions.
Pat came out.
Who ordered the onions?
You know, Robert ordered onions the other day.
He fired.
He didn't want to say anything.
I'm like, what are you doing ordering onions?
Oh, you ordered onions?
If you like onions, you cannot work here at Vice President.
Julia said character.
Mohamed Azhar said how they talk, by actions, the way they look, the words they use, et cetera, et cetera.
How about the way that their kids behave?
Okay, now we're talking the direction I'm going with it.
Here's how I judge people.
Okay.
It's very easy for somebody to sell you on how amazing they are.
We're all pros at it.
Everybody's great at selling you their way of thinking.
Everybody is so great at selling you their way of thinking.
They're fantastic at it.
They can sell you their lifestyle.
They can sell you their decisions.
Words are changing.
You know, for example, let me give you stuff.
See, the reason why I don't work that hard is because money doesn't drive me.
I'm not driven by money.
The reason why, you know, I don't like to work past five o'clock is because family matters a lot to me.
Work balance makes better people.
I want to come home and I want to spend time with my family and then they sit home for four hours and watch TV and they're on their phones for two hours and they call that quality time, right?
We're selling ourselves on whatever thing that we're doing, right?
It's selling.
We're selling.
Okay.
I judge you.
It's self-justification wrapped in selling.
I judge you based on your relationship with your mom when that day she dropped you off with the BMW and we went into Carl and went to Wynwood.
I judge you based on your relationship with Adrian, on how you guys are at that soho house, on how much that guy loves you.
And you guys have traveled together.
My best friend, guys, best friends.
No, no.
Like, well, I mean, I think both of you guys are single.
I don't know the whole story.
That guy is doing all right for himself.
Yeah.
So then I judge you based on Keith.
Yeah.
I judge you based on all of that.
My network, my social media.
Your network.
Who you are, right?
And then I judge you based on how you treat people.
Okay.
I judge a successful person based on how many people around them are winning.
If people around you are winning, I judge you and I say, check, this guy's a winner here.
Because if you work with this guy, guess what?
You're going to win.
Winning could be a lot of different things.
Winning could be advancing.
Winning could be a lifestyle.
Winning could be monetary.
Winning could be the way the person improves as an individual.
Winning could be the way the person communicates before they came here, how they talk now.
Winning could be how that person processes issues.
Winning could be how that person leads.
Winning could be many different ways.
If I watch the people around you winning, I say you're somebody worth following, right?
Okay.
How do you judge policies?
This whole thing is about policies.
How do you judge a good policy?
Based on the results.
How many people are winning?
It's not about, so if you think about how many politicians sell, how amazing their policy is, I don't give a shit how great you are at selling, how amazing your policy is.
What I care about is the results of your policies and the policies of New York and California are catastrophic.
The results of the policies of whatever the mayor of San Francisco did, it's catastrophic.
The results, I'm in New York walking, driving.
My driver's taking me places, Boris.
I had a chance to meet Boris, good guy, by the way.
Very good conversation we had with Boris until I realized who Boris was.
We're driving around.
Boris is taking me places and we spent a good entire day he was with us, right?
And I said, so tell me, what's happening with New York?
He says, it's not the same anymore.
I said, what do you mean it's not the same?
This is yesterday.
So what do you mean it's not the same anymore?
He says, people have left.
I said, do you feel it?
He says, do I feel it?
What do you mean, do I feel it?
500,000 people left.
Yes, I feel it.
How do you feel it?
Business?
Customers?
Traffic is less.
I feel everything that people have left.
He said, I said, so what are you going to do long-term?
So I don't know.
Guy's got three kids.
I think he's got three kids, right?
I don't know what I'm going to be doing, right?
Smart, intelligent guy when I'm talking to him.
So what do you think about this?
So why do you think some of the people who sell their policies?
He's telling me this.
He says, I watch Jorge Ramos.
I watch Universion.
I watch all this stuff.
We feel like the policies are good.
I said, no, it's not the policies that are good, man.
If they were so good, the results will be so good.
So the way you judge a politician is not by how they talk.
Unfortunately, the lower level stuff is that because the lower level of judging somebody, I'll never forget Fernando Lasso was one of my groomsmen at my wedding.
First day I started working at Hollywood, Bally's, El Centro.
I walk in.
I'm like, you know, I walk in on this, you know, guy, you know, he's like, hey, what's up?
How you guys doing?
How's everybody?
I'm just talking to everybody.
He says, Pat, when you first walked in, I said, this has got to be the cockiest guy I've ever met in my life.
He says, I didn't like you.
I didn't like the way you looked.
I didn't like the way you walked around like you owned this place.
Something about, I'm like, he says, six months later, you're my best friend of my life.
We became best friends Fernando Lasso.
The stuff we did together was a different story.
Sometimes people look at somebody and they say, this guy looks like he's rough around the edges.
This guy looks like he's this.
They judge.
But sometimes it's the other way around.
You look at somebody and say, wow, he's so presentable.
He's so, you know, he looks like he's got his stuff together.
But then deep down inside, there is no substance.
Substance to me is results.
And results to me is policies.
And policies that produce the right kind of results, check mark.
Good for you.
Keep at it.
So we can say all we want about how amazing and how noble some of these politicians are.
Just go look at their cities.
That's the best way to judge them to see how great of a job they did for their, what do they call it?
Constituents?
Is that what they call it?
Yep, that's exactly what they are.
I work for my constituents.
Why don't you clean that place up?
Because your constituents are kind of not too happy with you right now.
But the ones that are voting for you is the programs you keep giving them for free.
And people are paying a price for it.
Those who are creating jobs for you to be able to have tax money to come up with the social programs, you're pissing them off.
You may want to be careful with that part right there.
Anyways, okay.
All right.
So let's continue.
This has nothing to do with how to raise your kids, though.
And we still haven't gone to it on page seven.
Let me go to page seven.
Raise no.
I was going there and I got there.
And I changed subjects.
I think it was well worth it.
Okay.
So you want to raise kids with high self-esteem.
Did you just point at me in the interruption thing?
Of course I did.
I'm judging you the entire time.
Matter of fact, you know what?
This is yours.
Go ahead.
So I'm supposed to eat the mango here.
You got that mango.
Tiffany, I just gave it to Tom.
We're passing it now.
Pass past.
You know, just in case the mango felt special from the mango, everybody got a mango around here.
No way.
Everybody got a mango.
I don't like that.
I wanted to be the only person.
No, So then the question becomes, is this the biggest mango?
Maybe.
Maybe.
Maybe you should save the big piece of chicken.
You saved the big piece of chicken for daddy when he gets home.
All right.
CNBC story.
CNBC story.
Want to raise the kids with high self-esteem, a parenting expert on the power of teaching your kids repetition and ritual.
The first few years of parenthood is a huge adjustment, especially if you're a working parent.
All of a sudden, your baby is walking and talking.
They turn, then they turn three and demanding to know why you have to leave them to go to work.
Whatever your work schedule, these mornings, those mornings, evenings, weekends can feel very short, and you'll want to make them enjoyable and high impact and building your kids' confidence and self-esteem.
The key technique to getting there is through teaching repetition and ritual.
If your son knows you'll pick him up and hug him in the same way when you came through the door each evening, he'll look forward to it and he'll be thrilled when it happens.
Sing that favorite song together each day on the way home from daycare.
Begin each Saturday morning with breakfast at the same time.
Tuck him into bed in a consistent way each night.
For you, repetition is dull, but for children, especially toddlers, it's wonderful and reassuring.
The world is a brand new and complex place.
And when they see patterns in it or accurately spot what's coming next, it gives them a sense of security, mastery, and delight.
Tom?
I think there's some truth in this, but I think it was a puff piece by CNBC.
But I will say this.
You know, what you do, when you bring consistency to a two-year-old, they sleep through the night and everybody's happy.
So when you put them to bed at the same time and put them through a ritual, they, yeah, the kid has a more consistent pattern.
You don't have the kid waking up in the middle of the night, crawling into bed with a toy saying it's time to play.
No, it's not.
It's 4 a.m.
Leave this alone.
Obviously, that's never happened to you.
Oh, it's happened to everybody where your kids had a sink.
You're at a, you know, you go out of town to a wedding, and so you're up late till 10 o'clock, and then the kids had a sink.
And then the next two days, the kids literally had a sync.
They're tired, they're grumpy, it's hard to get them up.
And so when you take the routine out of it, I think routine for kids is good.
It gets sleep patterns and activity patterns.
But I'll tell you something else.
There is something here in consistency and trust because the kids want to trust in something, right?
It is a tough world out there.
And kids feel stress in certain ways too.
But when they know that you're going to be there and they can count on that, that is a huge part of the parental child love.
I can count on you.
It also gives you permission and it gives you the opening to put the disciplines around them-the disciplines of structure, behavior, of time, and things like this.
I tell you, if you travel with Tom, here's what happens: Tom every morning calls his daughters, no matter where he is in the world, okay?
And every night before he goes to sleep, Tom calls his daughters and they pray together, no matter when it is.
By the way, I've never seen Tom forget those two things.
When I tell you never, I mean, I've never, ever, ever.
We could be at a party.
Tom will step out, make the call, talk to his girls, and then come back into the party.
No one knows what happened, but I'll see Tom on the phone.
I'm like, I know what Tom's doing.
Leave him alone.
He'll be back in 20 minutes.
Does this thing come back?
When I tell you consistently, I mean consistently, his daughter is probably going to end up going to Penn, okay, if not Michigan, but she's going to get to choose where she wants to go.
His oldest, Bailey, who responded the other day to Scott Galloway's article in a way that adults wouldn't respond to what Bailey said.
And then Brooke is probably going to be an MIT student if she wanted to.
She can go anywhere.
A lot of it is how he and Kim raised their kids with the rituals.
Adam, yourself, you hear this commentary.
Do you have any thoughts on this?
This makes me think a couple of things.
You brought up, you know, the whole work-life balance.
I know you were kind of mocking that a little bit.
But essentially, what I would take from that is rather than you having to get home at 5:30 and then we kind of mockingly said, Yeah, you're spending two hours on the phone and you're BSing.
It seems like it's more important to have one hour of quality time where you guys can, you know, throw the baseball or, you know, do, you know, whatever you do with your daughter, play dress up, whatever the hell it is that is special.
Yeah, dress up.
Yeah, I know you've put on some pink outfits and you've put on a crown and a lot of outfits.
I've seen you do that with Santa.
But the point is, it comes down to quality time and repetition and just being there for your kid.
Like, I got to tell you, every time I get out of here at 8 o'clock, I'm home, right?
I'm home by 8:15.
My cats are getting that good quality time, y'all.
All right.
They get a good hour of a parent you are.
It's repetition, you know?
And every weekend, every weekend, they know.
Daddy's gone for the weekend.
He's in Miami.
He's doing what he's doing, but he'll be back Sunday night.
Cat whisper.
He'll be back.
Yeah.
Do you speak to them?
No, no, it's hard.
Do you do affirmations with them?
Affirmation is my own thing.
Who loves you, kitty cat?
You know, who love?
Do you say stuff to them or no?
Do you talk to them at all or no?
Because I talked to Jimbo.
I see.
You have a great relationship.
As much as we make fun of my cats, you got two dogs that are your everything.
Oh, my gosh.
Listen, if I can, my way out of 10 cats at the house.
I love cats.
I'm part of the community of cat lovers, man.
I'm a kid.
I'm going to say for those who are dog guys, cat guys, I've seen some cats before that suck.
I would never raise my cats to be sucky like that.
Is it based on the parent or based on the kids?
100% based on the parent.
And if you're going to get a cat, get two cats because they're playing all day, joking around.
So we left out.
They're fighting.
So we have to have a lot of people.
Value economics.
How do you judge keys to raising cats?
Yes.
Nothing's worse than one solo wax.
So we have to go back 20 minutes now.
We have to add to it.
How do you judge people by the behavior of their cats?
Yeah.
That's a very good point.
That's philosophical.
Do they have good cats?
That's something like Frederick Marshall.
Are they arrogant?
I don't care about you, and I'm just going to sit over here.
No, I would never raise cats.
Cats like that.
You know what I'm talking about?
Adam would slap them around.
Oh, yeah.
Snap out of it.
Don't be cocky with me.
No, exactly.
Hey, can you pull up that story with Barkley?
Can you pull up that story with Barkley?
There we go.
I just love Barkley saying this, by the way.
Love hearing what Barkley.
Charles Barkley to leave the inside the NBA blames cancel culture.
We can't even have fun anymore.
Go up a little bit to read what he says.
Baseball legend, Charles Barkley, decade-long TNS and SMTN.
And he blames cancel culture.
An appearance on Washington sports radio station WJFK 106.7.
The fan, Mr. Barkley, slammed as jackasses the social justice warriors who launch online attacks and even criticized as bosses and co-hosts on TNT.
It's gotten so out of hand right now.
I couldn't imagine having to watch myself.
You can't even have fun nowadays without these jackasses trying to get you canceled and things like that.
He continues to say he's 58 years old right now.
He says, I'm just having fun talking about sports.
I'm trying to hang on for another couple years until I'm 60 and then they can kiss my ass.
I'm only working until 60.
I already told them that we can't even have fun anymore.
We have had fun all these years and now all of a sudden in the last year and a half, everybody is trying to get everybody fired.
It really sucks.
Can you imagine Barkley talking about this?
And we're going to talk about the scenes.
Yo, man, be careful going in that direction.
All we ever talk about behind the scenes is, yo, man, be careful going in that direction.
We can't have fun anymore.
We've had fun all these years.
And now all of a sudden, the last year now, same thing here.
So, Barkley, I don't know how many Emmys has won.
I think it's eight.
I don't know the number.
How many Emmys has Barkley won?
Can you pull it up?
I think he's won eight, nine.
He's won a bunch of Emmys, right?
Here's a guy that's won a bunch of Emmys.
He's loved, admired, probably the best guy to listen to, entertaining as hell.
He keeps that show together, if you think about it.
He's won four Mm.
He's the glue guy.
He's the glue guy.
Even Shaq says.
Shaq says the face of this show is Charles Barkley.
Shaq.
He said the face of the who holds it together is Charles Barkley, right?
To say something like this.
How much credence do you give to what he says right there, Tom?
I give a lot of credence, and I'll tell you why.
I love Barkley.
You and I had the privilege of in Dallas going to see him speak one time.
Oh my God, at a college function that was there.
And what's really interesting is I think it was about six weeks ago, Barkley on camera on stage during the show said, you know what?
I'm getting tired of what these politicians are telling people to believe because I think most black people, most white people, most Hispanic people are all good people.
They're all good folks.
And they're getting tied up into this thing.
You remember that?
He gave that little speech?
And I thought that was so pure and so necessary for him to say, you know what?
The people I see, I think everybody of all colors is basically good and they're getting revved up by outside forces.
Do we have things in America that need to be addressed?
Yes.
Do we have things need to be changed?
Yes.
Do we have historical things that have kind of followed us around that we have a chance to get a new generation thinking differently?
Yes.
But right now, the majority of people are good people as we work through all those things, but they're getting revved up by the government that wants power and pitted against each other.
And he's talking here that these jackasses are just trying to get you fired.
It's a technique of lobbying now to get someone fired for having anything other than no opinion.
I think it's terrible what's going on with Charles Barclay.
I think he, to Tom's point, I do agree with him here.
Look, Charles Barkley is a personality.
Even when he was playing in the NBA, he had a larger-than-life personality.
He went against the grain.
He said, I'm not a role model.
Remember that famous commercial?
Tell your kids not to listen to me.
Who says that?
What adult says that?
So this guy's been cancelable before cancel culture was a thing, but he's maintained it for the last 30 plus years.
I think something that is resonating, I mean, what side politically do you think Charles Barkley leans?
Center.
Center what?
He's probably center, period, center.
Okay, well, I think he's more center-left.
I mean, he supported Doug Jones in Alabama.
He supports more Democrats than he does Republicans.
Sure, that's for sure.
Okay.
Which way do you think Bill Maher leans politically as an example?
Center left.
Center left.
Okay.
Left.
So you have there's a theme here going on here.
Even me, for example, Charles Barkley, center left.
Bill Maher, a little more left, but it seems like he's coming center.
Me, a little more left, especially socially, fiscally, a little more right, coming a little more center.
And what's the common theme?
We're all basically seeing what's happening with this wokeness and this cancel culture.
And we're like, this is ridiculous.
Being woke, you know, a few years ago actually was a good thing.
Meaning, I'm aware of what the hell's going on.
I see what's going on.
I have an opinion.
I'm not just sleepwalking through life.
Now, woke has a con has done a complete 180.
And if you're woke, that just means you're part of this.
You're canceled.
You cancel culture.
Aunt Jemima, you're done.
Redskins, you're done.
You did this 20 years ago.
You're done.
Cancel, fired, you're done.
And that's a very slippery slope.
And I think that's exactly what Charles Barkley is talking about here: is that if anything you say or anything you do is automatically cancelable and a cancelable offense, that's not America anymore.
You know what Eisenhower said in his farewell speech when he was coming out?
Do you know what he said?
Do you know what direction I'm going with this guy or no?
What's his theme?
Okay, he said in his farewell speech.
He says, beware of the military-industrial complex.
Okay.
And what he said about this is the following.
He says, if you use the word communism to try to cancel anybody, be very careful with that.
Just because somebody uses the word communism, you don't cancel them.
This started off with McCarthyism, right?
Hey, I have 200 and something people kind of like Adam Schiff saying, I have proof here that Trump was colluding with Russia.
I have proof here, right?
And there's been no proof that he ever brought up.
And so this cancel culture thing is something you have to be very, very careful with.
You know, Lincoln has a quote.
I'll look forward to read it to you.
And he says the same exact thing.
It is a, like, he was talking about prohibition, where people are using prohibition to be able to arrest anybody.
I mean, if you're going back and you think about these laws that we came up with, right?
Go back and think about the McCarthyism was what?
If you're communist, anybody that's your friend, I can come after them as well and tape them, right?
Very dirty.
And that goes to Rico.
What did Rico allow you to do in 1970?
And racketeering.
Racketeering, but what Rico allowed you to do is for if he's even hanging out with you, I can record his house without even getting permission.
Slippery slope.
And then Rico led to Omnibus and Omnibus led to Patriot Act.
It's more control, right?
Okay.
Today, if you think about who's doing most of the silencing, which side of the aisle is it today?
Yeah, that could definitely be the left.
It's the left, especially at universities, that's like the big knock.
Number one is universities.
Number two is social media.
Number three is, you know, I mean, I can go on and on.
You can't, people, people don't feel everybody who said anything about the virus being man-made got canceled until Jon Stewart said it on Stephen Colbert.
Yeah, there's just when he said it on Stephen Colbert, that video went viral.
Why does he go viral and Stephen Colbert doesn't get canceled?
But everybody else that talked about it the last 12 months, they got canceled.
You know how many videos we've been canceled?
Because just because we had a person that said what they said.
So the reason for that, which is what?
I think a lot of people are willing to listen to people that are on their team before they're willing to listen to someone on the other team telling them what's right or wrong.
So if Jon Stewart, who's traditionally a liberal, no one on the right is going to listen to him as an example, right?
It's a lot of echo chambers.
Jon Stewart.
disagree.
I think he's what do you mean?
He's always listen to Jon Stewart.
You're one of the few.
No, many people.
The point that I'm getting here is a macro perspective.
You think Jon Stewart is reasonable.
It's a lot easier.
I think he's confused.
I'll just be very clear here.
It's a lot easier if you're a Democrat to convince other Democrats, hey guys, your way of thinking is a little wrong.
You need to figure this out.
Versus a Ted Cruz trying to convince Democrats to think a certain way.
Versus a Democrat, an Adam Schiff character, or a Stephen Colbert speaking to Republicans, trying to convince them, versus a Donald Trump saying, hey, guys, you got to change up how you're thinking.
I think the point that I'm getting at is that you're willing to listen to someone that's on your team before someone that's not on your team.
So it takes someone like a Jon Stewart to wake up the left, if you will, as to maybe the virus.
I agree with that.
I think meaning it takes somebody from your own side to wake you up.
But I also think the reason why a lot of people were silenced the last 12 months is not because it's an opposing idea.
It just doesn't fit the narrative.
So if you're trying to drive a narrative, you have to silence anybody that doesn't fit the narrative.
And that's what happened the last 12 months.
So now they're sitting there saying, well, you know, yeah, you're right.
It could be man-made.
Well, we don't know.
Who says it can't be man-made?
So it's a very, very slippery slope to go in a direction like that.
And I applaud, listen, I said this yesterday.
I said, walking on eggshells and cancel culture, it always eliminates the most talented, entertaining people.
Barkley is the most talented, entertaining person.
He steps away.
I agree.
Kevin Hart was supposed to host the damn Oscars.
He's the most entertaining, funniest guy at the time.
The guys were getting boxed off.
He was making records after records after record to the point where he tweeted something the other day.
I sent him a message.
He says, much love and I appreciate you.
You know, it says, congrats on House.
We're going back and forth, texting each other.
There are certain people that you lose.
Like, we want the Ricky Gervais.
We want the Bill Burrs.
We want the Chappelles.
We want the Kevin Harts.
We want the Barkleys.
But no, they offended somebody.
They offended somebody.
You got to be very careful because you can't say that.
God forbid you offend somebody.
And then Nickelodeon the other day posted a video on the left.
Nickelodeon posted a video the other day trying to please the transgender community.
You saw the numbers with Nickelodeon?
Did you see what happened with Nickelodeon's number after that ad that went out?
Sure, it plummeted.
Oh, it's not even plummeted.
It's catastrophic.
Catastrophic because transgender is not a democratic thing.
Democrats, some Democrats are sitting behind closed doors.
Like, listen, I'm not, I'm not like, why are you putting that in my kids' face?
If you support it, support it.
But this is Nickelodeon.
What are we doing here?
Oh, to try to please a small percent.
What percentage of America is transgender?
Like 1%.
It's not even 1%.
No, no, it's probably 1% of 1%.
So to try to please the 1% of 1%, but you throw the other 44% under the bus and you lose that audience.
It's not only, it just doesn't make sense.
It's not even a good business model to do that.
There's nothing about it that makes any sense.
Did you see that video of it was a family asking, hey, would you take a picture of us?
And they give a camera to just a random guy, and it's like a family of five.
And he goes, okay, say cheese.
And excuse me, I'm actually a vegan.
I don't do cheese.
Okay, so we won't say cheese.
All right, everybody, smile.
Well, you know, I'm actually depressed right now, so I'm not willing to smile.
And basically every family member has an excuse as why they couldn't take the picture.
And it just started with say cheese.
And this poor guy is like, yeah, he's like, dude, do you want me to take it?
Exactly.
I'm out.
I'm sorry.
Here's your camera back.
Yeah.
Yeah, I mean, it's listen, more power to Barkley.
In two years, we're going to lose him.
Enjoy the guy for two years.
Well, I think so.
It's fair to say, Chuck, I know you're a big fan of the podcast.
You have a seat here to my right.
Tom, we'll have to send this one out.
But anytime that Charles Barkley wants to come on, we'll have to bring him on.
I'm a guest here, and I appreciate it.
But I would love to sit back and watch Sue Charles on this program.
Hey, I think it's good we go a little bit more of a creative side on the stories.
Let's talk about Hunter Biden is starting a full-time career as an artist and is selling his work for up to $500,000.
Please go to page three, Mr. Ellsworth.
Wow.
We will discuss the story.
His life is something like modern art.
Yep.
Hunter Biden has embarked on a full-time career as an artist, and some of his paintings can cost six figures.
In a statement, his dealer, George Berghaze, told Insider, it is an honor that I'm able to represent Hunter Biden.
He's a wonderfully gifted talent and fine artist.
He has garnered a following of collectors who appreciate and see the intrinsic value of his work.
Biden, 51 years old, has been painting since he was a young child, and he told Arnett that he's never had any formal training.
In his new Los Angeles home, Biden reportedly converted a three-car garage into an art studio that includes a brick floor and skylight.
Prices for his artwork range from $75,000 for work on paper to $500,000 for large-scale paintings.
Who actually fully believes this?
Adam, are you, you know, what do you think about this story here?
Well, I've already bought three pieces.
I know.
I think he's a talented artist.
I think Hunter Biden is the next Picasso.
Clearly.
That's what's going on.
Well, you know, I think something, the first thing that came to mind when I heard that he's becoming an artist, it's that he's getting in on this NFT craze.
Is that everyone out there is an artist and they're doing NFTs now.
And half the people are like, what the hell is an NFT?
And the other half of the people are basically saying it's the next big thing.
But the next thing that I'm thinking about that, other than the NFT, is I actually think that Hunter Biden deserves to be on a list that we have a running list going on right now.
And that list that we've been talking about for a few weeks now is who are the biggest trolls out there?
We put Takashi 69.
We put Jake Paul up there.
I think Hunter Biden smoking crack, doing whatever business he's doing, whether it's shady or undisclosed, whatever this artwork is going on, I think he's actually just a troll.
And the media is obsessed with him.
And I think he's doing a good job of trolling.
However, I don't know where this artwork's going.
I'm sure you have a very different perspective on his artwork.
Look, there's narratives have purposes, right?
And there is a media narrative that is trying to clean up the Hunter Biden image in time for the midterm elections.
And that's the narrative.
The narrative around Hunter Biden is the liberal side of the media, the mainstream media, are trying to adjust the image of Hunter Biden in time for the midterms.
That's all that's going on here.
That's the narrative.
So little things like this, somebody's sitting around and says, okay, this is the way the story will be.
I love this sentence here.
He has garnered a following of collectors who appreciate and see the value of his work.
I changed it.
From China, from Brazil.
I'll change it this way.
From Mexico.
He's garnered a following of.
Saudi Arabia.
Hang on.
He's garnered a following of donors who appreciate the value of getting close to his father.
I changed two words in the sentence.
I mean, come on.
I think this is a narrative.
This is a puff piece that's been put together to help adjust his image in the face of the facts that he himself is just dumped in the lap.
I remember Jerry Tarkanian being interviewed and saying.
Tarth the shark.
He says, your players get paid, UNLV.
You know, the whole Larry Johnson, Stacey Ogman, who was Anthony and all those guys.
Stacy Ogman.
Yeah, Stacy, a plastic man.
That's right.
Left-handed guy.
Greg Anthony.
Greg Anthony.
Great team, UNLV runner.
Greg Anthony once went up against, was it Jordan he tried to fight or Kobe?
He went up against one of those two guys, Greg Anthony.
They went into it.
They got into it.
I think it was, anyways.
So Jerry Tarkanian's being interviewed, and they said, listen, you're paying your players.
He says, I'm not paying my players.
He says, we follow the guidelines of the NCAA very strictly.
They said, he says, what do you mean?
He says, how do your guys have big jewelry?
Listen, we follow the guidelines very strictly, period.
And the reporter keeps going and says, but you keep paying your players.
He says, I'm not paying the players.
So then, obviously, I have a lot of friends in Vegas, and there'll be a lot of random people who know a lot of people in Vegas who bet.
And, you know, UNLV was known for losing the, what do you call it?
The whatever the spread was.
They're favored by six.
Somehow they lose by five.
Turnover at the end of the game.
They were great at dealing with.
Yeah, they controlled all of it, right?
So he said, look, it was a very simple business model.
He says they would go and have a job as a valet for 30 minutes or whatever it was.
And they would say, stand over there, work valet, and when the red car comes, you only get to valet that red car.
So they would go valet the red car.
They would park it.
The tip would be $100,000 tip.
He followed the guideline strictly.
You're allowed to get up.
You're allowed to get that.
$10,000 tip.
Yeah, I'm just doing my, I make $5 an hour, but I make $100,000 tips, right?
I get to keep the car.
Yeah.
He seemed like a nice young man.
Took good care of my car.
That's it.
How I tip is my business.
People tip like that every day.
Go ahead, Kevin.
Imagine the one day somebody else goes and gets the car by accident.
Oh, my.
But they're going to know who's LJ because you would know Grandma Ma.
If you see LJ, you would know this guy's a monster, right?
Is who he was.
Anyways, one of the players on that team is a barber now, and he's at the barber at the same place I go to.
And he's got some crazy.
He was on the UNLV running.
He was on the UNLV running.
2112 team.
Yeah, he's a barber now.
And he has some.
He says, listen, as crazy as you think it was, it was 100 times worse.
He says the kind of stuff that we were doing was ridiculous.
He says, I've never partied like that in my life.
He says it was crazy to think.
Things were being done to us.
We were doing stuff that shouldn't be leaked.
You're the best basketball team in the country in college.
You're in the NBA team.
And you're the vet, and you're in Vegas.
You're the best NBA team, and you're in college, right?
So, what's the moral of the story?
Exactly, Tyler.
Here's the moral of the story.
The moral of the story is he's not breaking any laws, okay?
Which means, if, let's go both ways, let's go both, right-brain and left-brain, okay?
Right-brain says, What?
What an incredible artist!
Good for him.
Leave him alone.
Let him be creative.
You know, his mind goes places, and he wants to put art.
He's creative, you know, creative people.
Because when you smoke crack, your mind will go to different places and then you can.
I had a friend of mine that would do shrooms all the time, and I used to love having dinner with him because I would say, Did you see that unicorn?
And he would say, No.
I would walk him outside.
I would say, Look up, there's a unicorn.
And I would sing in the background, never-ending story.
You remember the movie?
I don't know if you remember a great movie, right?
He says, Man, I missed the unicorn.
I said, No, you got to see the other one, the flying dog, the flying dog right there.
And he would bite.
Naive guy, innocent.
He would bless you actually because he took that many mushrooms.
He was that and we would go to that.
I think he was on acid, maybe, not mushrooms.
It was both of them.
He would be the one that was.
I don't discriminate.
I'll do some mushrooms of LSD.
He was called shakers.
Shakers, we would go there with him and my friend Armin, who's no longer with us.
Anyways, so look, if Hunter wants to be creative, more power to him if he wants to be creative.
You know, you know, sometimes when you age, President Bush started doing artwork.
What?
He's doing money laundering?
Come on, man.
He's just doing artwork, right?
But on the other side, let's just say this is a play-to-play type of a model.
Okay.
Let's say he is doing art where people from other countries who are powerful people from Saudi Arabia all of a sudden buy one of his art pieces for $7 million.
If that happens, and you don't speculate, you are the most naive person.
I totally agree with you.
But I tell you, if it's selling for $50,000, $75,000, if they're money laundering at that price, that's nothing.
No one's doing $75,000 money laundering type of deal.
Let me ask you a question.
I knew this was Joe.
When I selected him, I knew this was going to be a problem.
I just find it amazing that we got through eight years of this before it blew up.
You know how hard it was to keep a lid on this?
I should have got another Nobel Prize for just keeping a lid on this one.
Was that Obama?
Clinton or Obama?
You know, it's a problem if people didn't know.
No, that was Clinton.
Would be.
I don't really understand this.
I think this artist is.
That was Obama.
You do a way better Clinton than Obama.
You want to give it another crack or you're good?
I didn't let my brother get anywhere near stuff like this.
Remember?
You're good on Clinton.
Clever Roger Clinton.
Not Obama.
I don't know.
Can you do Obama or no?
Change.
Does anyone have change for a dollar?
No, you sound like Jerry Seinfeld.
Yeah, okay.
I can't.
What's the deal?
Okay.
What's the deal?
Okay.
But you bring up actually a good point here with your friend Roger Clinton.
That was Clinton's brother.
By the way, A on your Clinton, C minus on Obama.
But you keep practicing.
BizDoc, don't stop.
I guess my bigger question, I guess my bigger question here is: how much sway, good or bad, do the president's kids or family members actually have on the polls or votes?
Meaning, the first lady, Melania, Dr. Joe Biden, Michelle, they've got some sway.
That's the first lady.
But, you know, I don't know how much pull the Trump kids had.
I don't know how much pull Hunter Biden has, or Sasha and Malia or Roger Clinton.
I feel like.
All right, where are we going?
What's that speech?
I feel like every president.
How much pull do you have when you go to Bodega?
I don't mean pull.
I mean, like in terms of voting.
What are you talking about?
I'm good.
I'm good.
If you go to Bodega, what happens?
Things are good.
You're treated and you're not even Keith's son.
You're a friend.
Yes.
You're not anything in that life.
It's not like you own a part of it, right?
This is their son.
He's like, I'm a Hunter Biden, bro.
You want to get to my dad?
I'm going to contact the wait.
I don't mean it like that.
I mean, in terms of votes.
10% for the big guy.
In terms of votes.
Oh, yeah, yeah, yeah.
No, no.
That's my point.
In terms of votes.
You're right.
No.
Like, Roger Clinton did pull votes.
Yeah.
No, I didn't say, I said polls, not pull.
I got it.
Clearly, you have pull.
I'm Chelsea Clinton.
I'm a Clinton's son.
Like a Slint's daughter.
I'm Donald Trump Jr.
Yeah, you want to get to the president?
I don't think it's a pressure.
I mean, in the actual votes.
People say, you know, I was a Clinton guy, but I'm really not a fan of the colours.
I think America rolls their eyes.
America rolls their eyes at this stuff.
I remember.
That's my point.
I remember Jimmy Carter had a brother, Billy.
And he was.
And you do a Jimmy Carter?
No.
And he was a raging, raging alcoholic with issues.
Billy was.
Yeah.
And Jimmy Carter made no apologies for him.
He says, look, he needs to get his life together like anybody else does.
He gets off the airplane.
I think it was Air Force One.
He gets off the airplane on the tarmac.
And you know, there's a bathroom on the plane, but apparently he just walked around behind a couple of those enormous wheels and took a leak on the tarmac.
And you can go look it up.
That's some gangster shit right there.
Yeah.
And, you know, and the president of the United States is, but his name was Billy.
And so some company played into his alcoholism and he had a brand of beer.
It was called Billy Beer.
I have, I have, you know, back in the day, I had a friend that used to collect beer cans, you know, like trading cards, like rare beer cans and things like this.
But it was, anyway, Billy Beer, man.
So I think by and large, the American population rolls their eyes at it until it crosses over and Jared, Jared Kushner, crossed over.
He's doing things in politics.
So now this really matters and we get big opinions on it.
Hunter Biden was doing things on international stage.
Now we wake up and we don't let him get by with it.
He's right.
It's Billy, brother Billy Beer.
Yep, Billy Beer.
Yeah.
And take a look at him close.
You see the family resemblance from a younger Jimmy Carter?
Of course I see it.
And it's just like, and you can also look on their urinates, urinates, you know, underneath Air Force One.
I saw that.
At the end of the day, I think it's a good talking point, especially for your own team.
Oh, Hunter did this.
Why did you look that up on Wikipedia right here?
There it is.
It's a walk-in talk on Wikipedia.
All right, let's, I just don't think it moves the needle.
Okay, Coca-Cola lost $4 billion in a market value after soccer star Cristiano Ronaldo suggested people drink water is what he said.
Okay.
So the soccer super Cristiano Ritalo gestures at Euro 2020 press conference on Monday, wiped $4 billion off of Coca-Cola's market value, Ronaldo's ahead of his team's match.
By the way, this is all he did.
He literally just went like this.
No, no Coca-Cola.
Drink water.
That's all he did.
He didn't do 10 seconds.
It's like less than 10 seconds, right?
He looked at it.
Just moved it, right?
Okay, Ronaldo, ahead of his team's match against Hungary, irritably set aside two bottles of Coke, then picked up a bottle of water and said, Agua, the Portuguese word for water, Coca-Cola shares had fallen 1.6% by the end of the press conference.
Its market value dropped $4 billion to $238 from $240 to Coca-Cola, an official sponsor of the UEFA Euro 2020 tournament, reportedly said in a statement that everyone is entitled to drink their preferences and has differing tastes and needs.
Ronaldo has previously expressed disapproval of Coca-Cola and other unhealthy foods and beverages.
His fitness routine is set to involve eating six meals and taking five naps in a typical day.
What a day.
That's awesome.
Five naps a day.
That's a great schedule.
So the power of Ronaldo.
How powerful is he?
It just talks about the power of the personal brand.
The Ronaldos of the world or the Messis of the world or the LeBrons of the world or even the Jake Pauls of the world, all eyes are on them.
And if they do something, it could move markets.
And in this case, Ronaldo moved the market by $4 billion in 10 seconds, basically saying he's not a Coke guy.
So you know who would be very proud of him?
Adam Sandler and the water boy would be very proud.
Bobby Boucher would be very proud of Ronaldo right now.
I think this is a little overplayed.
You think $4 billion is overplayed?
Okay.
What is Coke worth?
$2.42.
Now $238.
Correct.
That's exactly right.
And their high for the year was $2.57.
The stock's at $54 right now, give or take.
The low for the year is $43.
The high for the year is $56.57.
So basically, you have a little blip that could have been any given day Coke could have moved $4 billion just with market factors, the price of sugar, things like this.
But I think it's interesting, we're pointing out is how markets can move with influencers.
And I think that's a story.
The story isn't Coke lost $4 billion and they're going to get it back.
And Coke is not just all about soda.
They've been buying into other drinks.
They own Minutemaid, you know, Vasani.
They've been going not full bore on soda for a while.
And they've been taking caffeine out of sodas.
They've been taking sugar out of sodas.
They've been trying to follow that.
I mean, they caught more heat for vending machines on campuses with economically priced.
You and I go down to a vending machine, a lobby of a building.
It's $1,500 for a Coke, but there were vending machines at 50 cents so that kids could get Coke with their lunches.
And they're pointing out there's a lot of sugar in that.
There's probably something else you want adolescent developing kids to be having before they go back in the classroom.
And so the story here is that influencers now really move markets.
That's the headline.
Not that Coke lost $4 billion in one day that they're going to get back in the next 20 years.
And I speak another sidebar here.
It's the power of the influencer now.
I agree.
I think something just this might be a good little case study on inflation.
And like a can of Coke used to be 50 cents.
Now it's $1.50.
And now they're keeping the price the same size, but the same price, but they're basically making the cans smaller.
Have you noticed these smaller Coke cans?
It's just interesting that they're all sort of around the same price, but the sizes are getting smaller.
No, the greater headline, you know, if I was at Forbes or someplace, my headline, you know what my headline would have been on this?
What's that?
And it says, you know, influencer marketing confirmed as Coke stock moves when Cristiano Ronaldo, you know, touches two bottles in a certain way.
And it's for everyone that says, gosh, why do you pay the Kardashians for a tweet?
You know, $50,000 for a tweet and then a backup tweet and a retweet.
It's $50,000.
Here's your package.
Here's your rate card.
Why do they pay Instagram influencers this?
Why is all this happening?
The reason it's happening because influencers move markets and make products move.
That's the story here.
Okay, let's see.
I think the story here is that he takes five naps a day.
That's pretty gangster.
I think everybody would want that.
He's killing, by the way.
Simple as that.
He's killing it.
He does one ad, gets 9 million views.
I mean, people are paying him left and right to just do ads.
This guy's making so much money, it's not even funny right now.
I mean, look, is there— This guy's— Where is he on your list of, like, just the most alpha males out there?
Studs, soccer player, best of all time.
He's a total money.
Where is he on the list?
How many balloon de ores is?
In world.
In world.
He's up there.
Sam, Sam.
How many balloon de ores has Cristiano Ronaldo won?
I don't know the answer.
I would say nine or ten?
I don't think it's nine or ten.
I think it was three or four.
I thought he and Messi won like eight of the last ten or something.
Was that like a trick question?
What were we trying to do right there?
No, no, no.
That's five.
He's got five.
That's like the MVP of the world of soccer.
It's five.
And so he's not just an alpha male.
This guy's a tiger with the ball.
I can't hear you.
Just so you know, you're muted.
We can't hear you.
Can you hear me now?
Yeah, go ahead.
He has his own museum.
He has his own hotels.
It's beautiful, but he has some answer in business.
Yeah.
But the question is: does he have the statue that James Corden made for Beckham?
Because the statue, I mean, Beckham has the greatest statue of all time.
I don't know if you guys have seen that with the chin.
Have you seen the ugly statue where you've seen that?
Pull up the statue with David Beckham's statue, James Corden.
You guys never seen this before?
It's hilarious.
He pulled the trick on him.
He says, so the day, the opening of the statue, Cordon brings him out to say, you guys have to see this spoof.
Just go to images because you can't play the video.
He makes this statue and he brings him out.
He says, look, we're so excited about it.
Look at his arms, how long it is, the fake one.
Hilarious fake statue.
Look at that.
Arms are long.
He says, and the artist who is the comedian who is acting like the artist is Maz Gibrani.
And he's going talking to him, saying, We spent some because your arms are long.
We wanted to give you width because you have so much power in your chin.
You have such a powerful chin.
He says, I don't have a chin that big.
Now, go on the butt, side.
Go in the back.
Go in the back.
Go butt.
Type in butt.
Great hair.
Type in butt.
Okay, let's just see if they show it or not.
He says, I don't have a butt that big.
He says, you have a perfect butt, so we wanted to really highlight how big.
He's thick.
T-H-I-C-C.
See, I don't think Ronaldo has a statue like that, but Ronaldo is a legend.
And when he does sponsorships, people make that.
Quick shout-out to Clay Smith, whose great grandma just passed away.
She had 17 grand great grandkids.
And, you know, want to give a shout out to Clay Smith's great grandma who just passed away.
That's his statue.
And by the way, what's this statue?
That has got to be, that has got to be the worst statue I've ever seen in my life.
I would be so offended if I was in the shop Ronaldo before and after.
It looks like two sides have been put together.
Before and after?
What are you talking about?
Braces or which one?
Yeah, it's like if you put your hand over each side of the statue, click on the first one.
You're saying he wasn't good looking at one point?
I'm just saying, you know, everyone has to go through an ugly phase.
Even Ronaldo was kind of.
Go down, Kai.
Go down.
The red shirt right there, boom.
Yeah, I mean, you know, clearly he's looking better these days.
So can we see your before and after?
I'm not trying to compete with Ronaldo, but he's done well for himself.
What a picture you get.
Being a professional shot, by the way, all of your 19 females that were following you, the ladies that were following, they left out.
I'm so offended.
You offended Ronaldo right there.
Okay, Trump.
Let's talk about Trump.
Let's talk about Trump here.
Donald Trump said to visit border before Kamala Harris Newsweek story.
Donald Trump has increased pressure on Vice President Kamala Harris as he announces he will visit the U.S.-Mexico border before late June.
Trump, who made building a wall to combat immigration one of his key presidential campaign promises, said he would visit our nations down, decimated southern border with Texas Governor Greg Gabbitt on June 30th.
Biden is also facing criticism for the record levels of migrants attempting to enter the country illegally since his time in office after walking back some of Trump's more hardline immigration policies in an attempt to provide a more humane approach.
In April, nearly 179,000 people were detained trying to enter the border, the highest level since April of last year.
Abbott sent a letter to Biden in late March demanding answers to the humanitarian crisis at the border.
Abbott said he plans to build his own wall along the state's border with Mexico, although it is unclear if he has the resources, funds, or authority to do so.
Adam, I'm going to go to you first.
What do you think about the story here?
I got to tell you, everything with the border is so politicized, and I don't have the answers here.
I don't think anyone does.
That's the biggest problem here.
I will say that, you know, I'm a big fan of pop culture.
Did you see the trending video that was going on with Kamala Harris and Donald Trump this weekend?
No.
All right.
Well, if you've got kids in the room, use your earmuffs.
It was really actually hilarious.
I've never been to Europe either.
Yeah.
The Kamala Harris came out.
This was the video.
Kamala Harris basically saying, if you're in Mexico, don't come.
Do not come.
And then it cuts it, Donald Trump goes, I'm going to come.
It actually doesn't go like that.
It doesn't say Mexico.
You're right.
She just says, don't come.
Exactly.
Don't come.
Exactly.
Oh, I'm going to come.
It's just, it's a genius marketing.
It is genius marketing.
So clearly you have strong opinions about this.
Trump's coming.
Kamala encouraged him not to come.
He's coming anyway.
That's a brash man right there.
All right, all right, all right.
Biz Doc is no, you're not allowed to have fun on BizDoc time.
It's time to get down to BizDoc.
Do not cancel me, BizDoc.
Go ahead.
Listen, Catman.
This is all about the narrative, right?
What was the narrative?
They wanted to get him out of office.
They wanted him defeated at the reelection.
So the whole narrative on immigration was you're putting kids in cages.
You're not letting people come here.
They just want freedom here and keep the borders open.
So whatever Trump was trying to do, they were trying to do the opposite and they were spinning it for the purpose of voting blocks.
Okay, that's what that was the narrative.
Now it goes the other way.
The other way is now Biden's in office, Trump is gone, and you've got Arizona and Texas and the city of Austin.
And remember, there's a lot of Californians that are in Austin, and there's a big thing down there.
All these billboards and t-shirts you can get keep Austin weird, mean weirder than the rest of Texas, meaning more lavender than blue or red.
The narrative is now: hey, we have some really real problems here, need to be cleaned up.
We got problems here.
San Francisco does not like national news stories talking about feces, urine, syringes, and homelessness.
They don't like it.
And there are people there that want to see it fixed.
And now it's a different side of the narrative.
The narrative when you're getting Trump out is the whole problem at the border is about Trump and give these people freedom.
Now, the vice president is going down there saying, do not come here.
Don't stop.
I'm going to do the whole thing.
She's saying, don't come across.
This is a bigger problem.
We want to know why they're leaving their country.
And what did Trump say?
Stop.
The point here.
Oh, I'm going to say they're flipping the narrative.
And it is so cruel to the American voter.
It is so cruel to the people that you're supposed to be serving that are living in these communities where these secondary problems are happening because there's nowhere for these folks to go.
If they were joining up with relatives, they were finding a job, they got things going, then give us your tired report, your huddled message, yearning to be free.
Come across.
So, what's your solution?
Be solution-oriented.
You're identifying the problem.
What's my damn solution?
My solution is that America is not a race.
America is a melting pot and experiment of people that came from somewhere.
And have a door at the border, welcome people that are refugees, but there's a process to do it.
You can't have them streaming across.
In one moment, you've got people just all over the border issue and just ignoring all the secondary issues because they just want to get Trump out of office.
And now they're willing to look at some of these problems and it's like they're going the other way.
The hypocrisy of this is just stifling.
Let me ask you, you ever lived in a gated community?
Well, would a high-rise be considered a gated community?
Where you lived with millionaires and deck of millionaires.
Where you lived, there was a lot of rich people in that building.
That's true.
That's called the gated community, right?
There was a lot of security when people came here.
How'd you like that?
It's nice.
It's nice, right?
Okay, I do as well.
I think America's got to become a gated community because where do people typically want to go to?
The fanciest places.
What's the fanciest country in the world?
Still, today it's U.S. Where you lived is a pretty fancy place.
It's a beautiful place, right?
It was gated.
I think it's nothing wrong with America being gated as well to protect itself, especially people who are living down there.
Here's the other part I'll tell you about this.
Do you think years ago?
Go ahead.
No, do you think we need a gate on both sides?
Not on Canada's side.
You know why?
You know why?
Because Canadian government is actually doing a decent job keeping their people there.
And Canadian are not trying to break the law to come down here.
We don't have a Canadian border problem.
We have a South and Central America problem.
It's not just Mexico.
Salvadorans are going through Guatemala.
It's a South and Central America problem, not a Canada problem that we have.
A border problem.
I mean, nobody from Europe is swimming out here.
It's a long swim.
So it's going to be, we don't need to put a border between there because the sharks are going to handle that themselves.
We don't need to worry about that.
We've got great security in the Atlantic Ocean.
Canadians are some of the greatest people in the world now.
They are.
Except for any one of them in this room, they got some issues.
Everybody else, I would say yes.
Now, let's talk about this.
Now, Canadians are very good, and they know how to drink a lot of beer, by the way.
Kokoni.
So here's a part about this here.
So for me, it's very simple.
When we started our YouTube channel, and then we changed the channel to Valutain, and we started doing a couple interviews, and I started liking doing interviews because I enjoy people's stories.
I like talking to people.
A lot of the people that were doing interviews at the time, they would only interview people that came to their show.
It's like, no, you don't come to me.
I'm not doing the interview.
I told my guys, here's what we're going to be doing.
We will go to them.
Okay.
And here's what I want you to do.
When I go to cities to do an interview, I want you to set me up with three.
If there's three interviews in a city, I'll go.
So my booker had one job.
They're going to put three interviews in a city.
I'm going.
So I'd go to New York.
Time remembers my schedule.
Let me tell you, it's not easy because you have to remember the notes, the facts, all that stuff.
Any questions?
So you're sitting down one minute from, you know, general, who was a general that we interviewed in New York?
McChrystal.
And then I'm sitting with Scaramucci.
Then I'm sitting with Bernard Carrick.
Then I'm sitting with, it was a back.
It was Ariana Huffington.
Then I'm sitting with a back to back to back to back to back.
And you got to get ready for the questions you're asking, right?
Okay.
But we went to the guests because we were a small YouTube channel.
We only had 50,000 subs, 80,000 subs, 100,000 subs.
So we went to them.
What happened eventually?
Eventually we got a half a million subs, a million subs, a couple million subs, three million subs.
Now people are willing to come over here.
Why?
Because we now earned the right.
But even today, yesterday, I flew out to do an interview with one of the most powerful attorneys in the world that many know about.
Very soon I'll talk about who I was with yesterday.
A two-hour interview ended up being six hours at his place that we were with and talking about stories and seeing stuff that it's just private stuff that we talked about, which we'll share with the world here soon who the person was that I interviewed.
Moral of the story is this.
Anybody that I ever met who kept crushing it, they always went to the problem.
They always went to the source.
They always went to the customer.
Goldman Sachs, they're having a conversation with the other investment bankers.
You know what the biggest complaint was?
Here's what the biggest complaint was.
Why some investment bankers were losing business to Goldman Sachs?
I can't believe I'm playing with a mango right now.
He says, the reason why we're losing business to Goldman Sachs is because Goldman Sachs investment bankers still get on the plane and go meet with the client to be their money backers.
They still are willing to go meet with them while everybody else is just doing Zoom, Goldman said, we're going to come and meet with you.
Guess what happened during COVID?
They got the big money.
The other guys are like, don't leave your office.
Sit right there.
God forbid something were to happen.
Goldman got the business.
Very simple.
That's why Goldman.
They weren't careful.
They weren't careless.
They were careful.
They were careful, but they got the business.
By the way, they're my guys.
I remember we covered that a couple months ago on the podcast.
They go to you is what they do.
Okay, my sales guys.
I have a guy in the company, Sheena Matsopalo.
You've met them before.
We paid him nearly $300 last month, okay, is what they made.
Month.
In a month.
You know what they're very good at?
I have many guys that were bigger than them when we were coming up.
And I would tell them, go meet the clients.
And they would say, no, why would I go?
They need to come to me.
I don't drive two hours.
I don't drive three hours.
What do Sheena Matzopollo do?
They'll fly to Memphis.
They'll fly to Seattle.
They'll fly to New York.
They'll fly to Baltimore.
They'll fly to Orlando.
They'll fly to San Diego.
They'll fly to Arizona.
They go to people.
They didn't make the money last month by luck.
They made it because they went to the source, to the customer.
They went there, right?
Okay.
Trump is doing what they should be doing.
He's going where the problem is.
And by the way, here's what's a very bad look for them right now.
Everybody in America, Lester Holt is asking Kamala Harris, why are you not going to the border?
The former president whom you kicked out, whom you silenced on all of social media platforms said, don't worry, I'm going to go over there and I'm going to go with Greg Abbott and we're going to go see what's going on and try to help and influence and give support to the people that are working on the border because you're not going to ever know what they do at the border until you go see what they're going to do at the border.
There's a big difference between you seeing it on a video.
There's a big difference between you reading an article about it.
There's a big difference between me sending you to go to the border versus I go to the border.
There's a very, very big difference for you to see it.
You gain loyalty that way.
Years ago, one of the best leadership books I ever read was by Donald T. Phillips called Lincoln on Leadership.
You know what Lincoln on Leadership said?
He said, circulate amongst your troops.
It's what made Lincoln so admired by the people that work with him.
He went and circulated amongst his troops.
He would say, how you doing, private?
How you doing, specialist?
How you doing?
Corporal?
How are things?
Everything good?
How we looking?
Circulate amongst your troops.
If you ever seen a movie Lincoln played by Daniel Day-Lewis, you'll see him where he's sitting.
He's sitting amongst the troops.
It's why they call him the greatest president of all time because he went and circulated amongst the troops.
He didn't sit back and order others what to do.
He went and circulated amongst the troops.
And that's all 45 is doing right now.
Something 46 can learn something from and take some notes and say, you know what?
Maybe we ought to go out there because we're looking like fools right now that the former president needs to go out there.
We're not even going there.
And the number one issue, one of the biggest issues we're facing right now in America is what?
Immigration, because we made people in South and Central America think it's open borders.
Come on down.
It's not a good look for the current administration.
And all I can tell you is Trump capitalized on an opportunity and it looks very good for him for 2024.
Not saying he's going to run or not.
It's a very good look for him because it shows Republicans care more about the border than Democrats do.
Historically, Democrats have always been known what?
They care more about those coming across the border more than anybody else does, but they're not going there.
If Republicans win that statement, which is what?
Republicans care more about the border than others.
Is that a small percentage?
Could that be a half a point?
Could that be one point?
Could that be a quarter of a point?
Could that be a point and a half?
It could be.
Does a point and a half mean anything in midterms?
Does a point mean anything in midterms?
I mean, Trump just announced he's going on a tour across the country with what, Bill O'Reilly, to go and do what?
To talk and address issues and answer questions.
And he's going out there working as a president that's just not sitting there saying, I'm going to go out there and circulate amongst the troops.
Look, anybody, whether it's your competitors, anybody in politics and business and sports, anybody that does that, you better tip your hat off to them and say, listen, I got respect for this guy because he wants to play ball.
And that percent and a half is percent and a peak.
It takes a lot of work and energy to do that.
A lot of work and energy to do that.
That's why many don't want to do it.
It's funny.
You just said percent and a half.
And just remember, a percent and a half is a three-point swing, right?
The net difference is three.
That's the whole ballgame on the last four presidential elections.
That's the ballgame.
So you move the populace something like that on a lightning rod issue like this.
It's defining.
And then the other guy is not making the policies.
It's so funny.
People, look, you're so right about things you're saying today.
You know, people, let me put it this way: if you're watching a weatherman.
By the way, this is not a left or right thing.
George Bush Sr. had become so much above, like, I'm above everybody else.
I'm the former director of CIA.
I have more experience in politics than anybody else.
And the lady from our lady asked him the question about debt.
How does the national debt affect your family?
And says, what?
You don't think I'm affected by the debt?
And then Bill Clinton comes and says, Ma'am, can you please tell me how it's affecting your life?
And a lady answered and says, You know what?
In the state of Arkansas, here's what I do.
What we've done in our state is we understand what it is to go through this, and I understand your feelings.
And if you vote me as your president, I will be able to help.
It's the economy, stupid.
Bill Clinton equals Donald Trump in this situation, circulating amongst troops.
Absolutely.
They relate to the average person.
Why do you think Kamala, this has to be a strategy of some like, I'm not a big fan of Kamala?
Negative attention.
It's not negative attention if she doesn't go.
If she goes, so that's the reason that they're saying, look, Kamala, don't go.
Because if you do go, it's going to be a lot of negative attention.
Kamala's at the border.
The border's a mess.
It's like bad PR.
They need to make a conscious decision.
I'm going to step back.
Because her response was, I've never been to Europe, which I think was ridiculous.
But there must be a reason she's not.
Let's just say you always hide your brother away from your girl for whatever reason.
Okay.
And then you go and your girl meets your brother, and all she talks about on the drive back from dinner is your brother.
And you're like, dude, you're with me.
Why are you talking about my brother?
And she says, you know what?
I like your brother.
He's so funny.
I like him so much.
That story, he said, oh my gosh.
And you're just like, ah, I can't believe he's talking about this.
I don't want to bring attention to it, right?
This is the level of insecurity.
Everybody has a level of insecurity.
This is purely an insecurity thing.
If they go to the border, it's going to show that Trump's policies did better on the border than theirs.
That is not going to help them for the next two years.
So you cannot bring attention in an area where Trump won.
So that is a strategic move.
Brilliant.
It is a strategic move, but it's not a brilliant strategic move.
It backfires.
It gives an opening to Trump.
What they had to do is the following.
This would have been a better move on them.
My suggestion.
Could be wrong.
I'm just an entrepreneur.
They could have gone there together and they could have said, here's what's happening.
Here's the issue.
Here's what we have to do about it.
We're working on it right now.
We have our team over there.
And I went for myself to see it.
This is what we're doing right.
This is what we're not doing right.
This is what we're going to get to the bottom of.
Give us 90 days.
That's the better approach.
And the American people, you know what they would have said?
Okay, cool.
All right, let's move on.
You know the whole thing about the I'm sorry where you go out there and you say sorry and then people move on.
Okay cool, it's, it's cool man, I appreciate it, no problem, and just kind of move on.
People forget sometimes.
People just want to know that you're putting paying the, putting the right attention to the issue that matters to them.
They're not doing it with this.
You know what have been a boss move.
What if you do a bipartisan group that goes down together?
Not gonna happen.
That's.
My point is that there's so both sides presidents are the most divisive presidents both sides in a long time.
Like, at the end of the day, do you want to fix the issues or do you want to play politics?
If you actually want to fix the issue, you bring a Kamala who goes with Greg Abbott, you bring up Beta Ork and you bring uh, representatives from Arizona Texas, from both sides, and you actually figure it out.
But no, they want to play politics both.
Both sides are guilty.
Both Obama and Trump did this.
They both did it where it was getting away from the center that we win when we go more to the center.
I love, I love what Bill Bill Maher is doing right now.
I love what Stewart is doing right now.
I love what Russell Brand is doing right now.
I love what Tucker is doing right now.
I love what a lot of these guys are doing right now where they're calling out both sides.
You need more of that.
A little bit of Trump can't do nothing wrong in Hannate's eyes, but Trump can do a lot wrong in Tucker's eyes.
Yeah, you need some of that today and it's bringing us more to the center center, more unifying, less dividing center.
We can have different, differing opinions, but we got to be more in the center to understand.
By the way, somebody commented here and they said, uh uh uh, career ships uh, you said, completely agree with Pbd.
It's easy to get up and go to where the top people are.
That's why i'm flying out to from Uk to Florida to see Pbd, Tom Adam and the Vault in september.
See you there Richard Ed Richard, we're seeing, looking forward to seeing you.
I do a conference twice once a year and it's called the Vault conference.
The last one we did it was 2019 and people from 40 plus countries showed up.
It was only 500 people.
This one we're doing this year at the Diplomat, we're expecting 3 000 people to show up from 100 plus different countries and the speakers were about to announce they're very strategic speakers that we're gonna have at this event and it's gonna be investors founders uh entrepreneurs, c-suite executives salespeople, employees who want to grow their business and those that are trying to raise their money.
This is not an event I would miss if I were you.
Especially after us going through Covet, you're gonna want to find out strategies that are working for people.
Post Covet, there's gonna be a lot.
There's a lot of money being made right now because people simply have better strategies than you.
And if you're not yet registered and you want to go with us, go to I think the.
The website is what Thevaultconference.com?
Can you put that up?
Put the matter of fact, go to the website Thevaultconference.com, to show it.
Uh we, we want to see all of you.
If you're not registered, what?
Early september?
What is the first week of september?
September 1st?
The Diplomat uh, and then we're doing some unique things.
At the end, we're going to get a yacht and we're going to go out.
The Diplomat is a beautiful property.
It'll be two and a half days of training.
You'll get that manual that we have there and the ticket uh, tickets go to the bottom, there'll be general seating.
Uh, general seats uh platinum executive founder, co.
I think Seo's fully sold out.
It says five.
I think it's one or two left.
That's about to be sold out.
So you can't buy that ticket founders, about to be sold out.
You can only buy the general, platinum and executive tickets.
Uh uh, and I definitely look forward to seeing many of you guys.
By the way, the people that want to come visit the south Florida it's actually a a cheaper time of year to come a you can fly into Fort Lauderdale or Miami to get to this location, and I got, I guess, at the at right now.
We got to give a quick shout out to, to the team that's putting this together, the sales guys LEO, the voice team they're doing My guy, Don, Donnie Brasco, they're doing a great job.
I got to give them respect.
They're doing a great job.
Daryl is both.
Okay, having said that, gang, I think we're doing podcasts next week, Monday, instead of Tuesday.
So we're going to be doing podcasts on Monday next week, not on Tuesday.
So put it on your calendar.
Monday, 9 o'clock, San Bell, or is it same time, 9 o'clock?
