Jedediah Bila & Vincent Oshana | PBD Podcast | Ep. 167
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PBD Podcast Episode 167. In this episode, Patrick Bet-David is joined by Jedediah Bila, Vincent Oshana, and Adam Sosnick.
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Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal bestseller Your Next Five Moves (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.
To reach the Valuetainment team you can email: booking@valuetainment.com
0:00 Intro
19:52 - The truth about growing your business
30:13 - Why people move out of New York
44:25 - Discussing the housing market
54:06 - Are we going into a recession?
1:01:50 - The importance of increasing your market value
1:12:52 - FCC wants to ban Tiktok from Apple Store
1:26:15 - Trans skateboarder won tournament
1:34:56 - Defunding the police in West-Hollywood
All right, folks, we are live episode number 167 today with the crew Adam Sasnick, Vinny O'Shana, and Jedediah Bila in the house.
We got a lot of topics to cover.
We may get a call-in from a mayor pro temp from West Hollywood.
Oh, I love the pro temp from Washington.
Everything is temporary.
From West Hollywood's mayor, who apparently they just actually defunded the police.
Yeah, they just actually defunded the police.
And their strategy is to have the local civilians armed to protect the city.
Nice.
That's why Vinny moved out of LA.
Which, by the way, isn't that a conservative philosophy?
Yeah, big one a militia.
But you realize how weird that is.
If you defund the police to get people in West Hollywood civilians to have guns to be trained to protect the city, that's got to be like the complete opposite of progressive philosophy.
And they're called safety ambassadors.
And in LA, in like North Hollywood, where I live, they're just people with yellow shirts on bikes, no guns, no nothing.
Oh, no guns.
No guns.
They just talked to you.
And bro, if this is happening to West Hollywood, it's going to be a bunch of people.
Like, if somebody's about to shoot somebody, they're going to go, hey, stop.
And then that's it.
We're not going to shoot Hollywood.
Is that like the game?
West Hollywood is a huge.
Yeah, dude.
When people say this is the best thing.
West Hollywood is the Manners.
What's the Wilton Manners?
Wilt Manners.
But it's Wilton Manners times 10.
Times 10.
Yeah.
But it is what it is.
Are those handcuffs?
Just safety.
Guys, stop.
Sorry.
And just people are going to leave.
Like, no, that's not.
You're going to confuse people.
You're going to think you came here from L.A. Like, if you want that position to be yours, you sound too natural.
So, you did come from LA.
That's the whole thing.
All right.
So listen, topics, topics, topics.
What we got today.
We got a lot of things to cover.
Retirement savers lost $3 trillion in the stock market.
Allegedly.
Allegedly.
They lost $3 trillion.
This is Yahoo News story.
A story came out from Market Wide saying it's now officially more expensive to own a home than to rent a home.
So maybe it's more at a time where this may not be a message that people want to hear in real estate.
But this story came out from MarketWatch.
And the Real Deal Instagram account actually shared this.
Next, Twitter suspends Jordan Peterson after he tweets at Ellen Page just had her breast removed and he got suspended for.
Sir, it's Elliot Page, please.
Did I say no?
It used to be Ellen.
Don't Elliot.
Now it's Elliot.
What does this story say, Ellen Page?
I'm just letting you know.
That's all.
That's go back.
That's the question.
Now it's Elliott before the transformation.
That was.
Okay, all right.
Next, by the way, this one's interesting here.
FCC commissioner urges TikTok to be removed from Apple Google stores over unacceptable national security risk.
Weird.
Very weird.
Wasn't there some orange guy that was shouting about this three or four years ago?
Yeah, he was.
I vaguely remember that.
He's offensive.
Listen, you're going to trigger that.
Which is not acceptable.
This next story, this next story is a little wild one.
Trans skateboarder who won first prize against teen in a is a combat vet dad who has rejected who was rejected from Olympics with three kids.
My mind just hurt trying to wrestle with that.
That's not a satire story.
That's not Babylon B.
This is a real story that's taking place.
That's real.
By the way, let me give you another statistic here that's pretty concerning for a state.
Imagine if a company lost $21 billion in revenues, what that would mean.
$21 billion in revenues.
If you count that for EBITDA times, say 15 times, that's $300 billion in valuation on your loss.
Well, that company is called New York.
New York lost $21 billion in income from the IRS.
This is IRS revenue they lost in 2021.
Another story is a board ape-themed restaurant who will no longer accept crypto payment.
Okay.
The whole idea is crypto, but they're not going to be accepted.
That story hurts my mind almost as much as the trans skateboarder.
Yeah.
Welcome to 2020.
This next story may have some, I think we may get into this one.
NBC reporter, birthing people not getting abortions will hurt the economy.
Okay.
There could be actually a good argument for that.
We can talk about that.
I just got laid off on my dream job at Tesla without warning.
I feel like my job, my life got uprooted so a billionaire could save some money.
Okay.
Okay.
Why billionaire Ken Griffin is moving Citadel headquarters to Miami from Chicago?
Riots and employees stabbed and the attempted hijacking of his own car.
So he finally says, I'm leaving Chicago.
I'm going down here.
Pennsylvania considers welfare reform to keep food stamps from going to, ready, dead recipients.
True story.
From going to dead recipients.
Howard Stern may run for office.
And then obviously an upscale West Hollywood votes to defund sheriff's department, which we talked about at the beginning.
So having said that, let's see which story we want to get into first.
Can I make a request?
Yes, go for it.
Before we get into stories, topical events.
One of the four of us just came back from the most expensive place in the world.
And I'd be remiss if we didn't at least cover the fact that someone on the panel was in Monaco hanging with chics and princesses and that type of life.
I'm just throwing that out there.
I don't know if it was Vinny, Jane.
Someone might want to.
Trust me, it was not me.
Trust me, I was in the office the whole time.
Okay.
So, yeah, we were Monaco.
We took 120 of our guys to Paris and Monaco.
We had a great time.
We put them at the Wyndham in Paris, and then we took him to Monaco at the Fairmont, Nikki Beach.
Some of our guys took rides down to Italy.
Some went to Cannes, some went to Saint-Tropez.
We took a helicopter ride from Monaco to Saint-Trope, which is ridiculous.
On the way back, we're 30 minutes late.
So the helicopter, we have to go to the airport, which is in Saint-Tropez.
The guy just flies it into someone's backyard.
No joke.
I'm not even kidding.
We got the story.
He flies it into someone's backyard.
No joke.
He flies it into someone's backyard.
We're like, this is a joke.
It's not Saint-Tropez.
We get in this guy's backyard.
We get in the helicopter.
We come to Monaco.
Amazing.
Everybody in Saint-Tropez has a helicopter landing pad in their backyard.
Nobody complained.
They all were just like, by the way, you know what's the best thing about Monaco?
Here's what's the best thing about Monaco.
The best thing about Monaco, why I love it there.
Nobody gives a shit how successful and famous you are.
That's because just a minute ago, you know, a billionaire sat there a minute ago.
You know, Ilan was there a minute ago.
A prince was there.
A sheep was there.
So if you are this like famous Instagrammer or you're this YouTuber or this millionaire, no one gives a shit.
So and it's kind of like, do you know who I am, sir?
The president and the prime minister was just here before you.
No matter who you are, you're probably not more.
Actually, I know exactly who you are, and that's why I'm treating you like shit because you're only worth $100 million.
But I will.
This guy's worth $100 million.
But I will tell you guys a crazy story about Monaco.
What happened?
One of our guys, Renee Dalilo Reyes.
Shout out to those guys.
Their five-year-old kid, I believe, had a 105 fever.
And it's 3.30 in the morning.
They come back from the casino, Monte Carlo Casino, and they come back.
They're like, oh, shoot, our son's got a 105 fever.
They come downstairs to concierge.
Concierge calls emergency, you know, all the places.
Pharmacy's close.
Everybody's close.
The cop shows up.
No joke.
Monaco PD shows up, picks them up, takes them and calls the, what do you call it?
The surgeon, pharmacy, brings the doctor, and at 3.30, 4 o'clock in the morning, they open up, they look at the kid, they give him the medication, and then the cops bring him back in.
Another one of our guys who is former NFL Polar Cowboys guy, he played under Drew Bledsoe and Roma during that era.
Oh, wow.
He jumps in the ocean.
They're on a yacht.
They're going out and his butt gets hit by the propeller.
Oh, my God.
Listen, don't stop.
I'm not even kidding with you.
He's got to cut this big.
TJ, okay?
He's got to cut this big.
They come.
They take him.
They, you know, stitch him up 15 stitches.
And he's bleeding in the ocean, by the way.
That's shark.
That's shark food.
Exactly.
Yeah, it's like shark food.
But he went back.
They came.
They stitched him up.
No question.
Do you have a health insurance card?
Nothing.
Boom.
Went away.
That's Monaco for you.
By the way, the highest life expectancy in the world.
The average person there lives up to 89 and a half.
Yeah, the rich.
They're chilling.
And insurance is great.
Tax haven.
Treatment is incredible.
We went to Les Louis 15 to have dinner there.
The dinner, we went there Monday night.
We went there Friday night.
We took 10 of our guys on Friday night.
It's a five-hour dinner when you go there.
It's my kind of dinner.
Yeah, it's five-hour dinner and the stuff.
They brought a pigeon.
They brought a pigeon.
They're like, I said, so this is like, you know what I'm saying?
And then Pijon.
He says, Jennifer's like, I'm sorry, but what did he just say?
He says, is this chicken?
No.
It's a pigeon.
Yeah.
So I'm like, I don't know what he's saying, babe.
See, the guy goes, it's a pigeon.
So I'm like, it's a real pigeon.
This is a pigeon.
So I'm like, okay, let me try.
I've never eaten the pigeon before.
Was it good?
No, it wasn't actually good.
It's like duck-ish.
It tastes like duck.
Listen, if you like duck, if you like pigeon, it's a partly like, it's a chicken with an attitude because when you eat it, you have to.
Your t-shirts are going to get a workout.
But for those of us that have been following our PBD podcast for two years now, you got to tell us if you had the lobster roll, if you're a favorite lobster roll of all the people.
So that hotel was shut down for renovation.
We went to the annex.
We went to the Annex in Cannes, which we got, listen, it's our favorite place in the world.
It's my favorite place in the world when I go there.
It's just a different kind of a treatment.
It was Tom's 68th birthday.
Oh, I saw that.
For his birthday, I got the flag that Senna drove when he won in Brazil signed by Senna.
You should have seen his reaction crying.
And got him a nice Rolex white gold watch, and I got him the Senna.
He got the watch.
It goes like this.
Oh, cool.
Oh, my God.
What the hell?
Yeah, he had like zero interest for the watch, but he was so excited.
But anyways, we had a very good time.
He turned 60.
6'0.
Happy birthday, BizDuck.
6'0.
Doesn't even look it, by the way, but he did turn 60.
And we had a good time there.
And we were working.
I'll tell you after a lot of stuff was going on.
But it's exciting time.
How was Paris, by the way?
Because we just skipped right over Paris.
We just went right to Monaco.
We went straight to Monaco.
We didn't go to Paris.
Our guys went to Paris.
We were in Monaco ourselves.
Well, out of 150 people, only a fever and a butt cut.
That's not bad.
It's not a bad situation.
Nobody died.
Nobody was partying.
Do you find it relaxing or is it kind of like, I don't know.
I always think of places like that and I'm like, I don't, is it stuffy?
Do you feel like you always have to be this or be that?
Or is it super chill?
Because everyone's in the same boat.
It's whatever you want it to be.
Okay.
First time you go to be intimidating.
Yeah.
First time you go to be intimidating because it's the only place in the world that nobody gives a crap what you drive, what kind of clothes you got on.
Everybody dresses nice.
A Lambo is a taxi.
Wow.
So if you drive a Lambo here, you're like, oh my gosh, I got a Lambo over there.
It's a taxi.
A Rolls Royce is a taxi.
Like, okay, you know, 50 Rolls Royces.
You see everything.
Paganis, you see everything.
There's not a big deal.
If you wanted to buy a two-bedroom condo on the water in Monaco, you ready?
How much?
$30 million.
How much?
$30 million.
Oh, my God.
Two-bedroom?
Two-bedroom.
$30 million.
In Monaco.
Same thing.
There must be a stat for like Uber drivers or whatever.
All the valet guys, those guys must be paid.
They must be the richest in the world.
20 bucks a minute.
No joke.
It's 20 bucks a minute.
20 bucks a minute.
When you went from one, yeah, the Uber over there.
Let's go, Uber.
Yeah, because your rent is $5,000.
That's what I'm telling you.
If you're lucky.
If you're lucky is $5,000.
That's what I'm saying.
Imagine as an Uber driver and you're a good guy.
One year.
Can you imagine like a cast?
So what did you make last year?
$380.
How much did you keep?
Five grand.
What is the tax situation in Monaco?
I don't know exactly what the tax situation is, but it is known as a tax haven.
That's what Medico is known for.
I don't know the exact details, but it is known as a tax haven.
So if you're thinking about moving there, it's a great place to go.
I wonder what kind of incentives they give.
In Florida, a lot of people move to Puerto Rico because it's like it's close to Florida, close to Miami, Puerto Rico, 4% income tax.
And Pat, when you said they brought a pigeon to the table, I don't know why it felt like the actual bird, and you get to go, no, and they go, okay, just let it go.
Like, no, I want that one.
They don't bring a pigeon to the house.
They're not pigeonholes.
So first of all, it's not that great.
Listen, I've had it.
I can't stand butter.
I'm a cheese person.
I'm not a butter person.
Except if I'm here, their butter is, I can't even describe it.
It's like butter.
There's a name of it too.
It's like something de mold.
It's like the best thing.
It's the salt and the pepper and the way that you put it on the bread.
And the butter is like perfection.
It's the best butter I've had in my life.
So I actually want to ask you a business question about this because I'm sure there's people being like, okay, I'm never going to go to Monaco.
But a lot of the people that work for you probably had that.
I'm never going to be able to go to Monaco.
But some of the, like I've met a million of your agents, there's 20,000 of them or whatever.
I'm good friends with a bunch of them right now.
Their dreams have become a reality.
That's what I think is the most amazing thing about your other company that you've done, PHP, is that you've taken ordinary people and you've made them extraordinary or made their lives extraordinary.
You know, I don't want to name names here, but some of these people would have no chance to go to a place like Paris or Monaco on a trip like this.
But you always say treat your best people right.
So maybe like give it some insight.
Like there's people out there being like, yeah, I wish I could be like Pat and go to Monaco.
But like, no, you could be the guy that, you know, maybe got caught up in the propeller or something like that.
Teaching.
But there's regular people that have extraordinary lives with PHP.
Would you break that down, Lisa?
Listen, you say like they would have never had the experience.
I would have never had the experience.
I'm a regular guy.
I don't relate to the guys that, you know, come from families who had the money to go to schools and four-year degrees, eight-year degrees.
I'm a guy that would have done 20 years in the military and I would have gotten out five years ago.
Five years ago, it would have been 20 years ago.
I got a call from a guy named Kogan who told me you should get out because I think you can do very well in the market.
And I thought about it overnight and I didn't realize and I got out.
And life wasn't easy for a couple years before business took off.
It was hard for a long time before it took off.
So these guys were similar.
You know, you got a dream and sometimes when you got a dream and you're at the inception of it, when you're chasing it, everything says there's no way you can pull this off.
Everything.
Everything says you're not good enough.
What makes you think you can pull this off?
What makes you think you?
What makes you think what part of your background?
Like you can't even go towards a place in your life that you succeeded to say, well, you were the MVP of your high school football team.
I never played organized sports.
While you were the valedictorian, I had a 1.8 GPA.
Well, you were the chess, never played chess.
Well, you were, there's nothing that you can go to to say that I ever won in anything.
In my life from first grade to, no joke, to senior year, maybe I got five A's.
I'm talking from first grade.
That's saying something.
Dylan already got five A's in a second grade.
That's chillin'.
I don't know if I've had that many A's from first grades.
I hope my kids are not listening.
Guys, if you're listening, I'm not telling the truth.
My GPA was 4.5.
You're basically saying it's not the size of the dog in the fight, it's the size of the fight in the dog.
There is no question about it.
So our guys like Sepala's fighters, Gaitan's fighters, Palayo, Vargas, these guys are fighters, you know, the rookies of the world.
We got some real.
Can I ask you a question about those guys?
Because I was going to name them Rodolph, Ricky, and Gaetan, because you've told stories.
Those guys who are making millions now, they're doing great.
This is for the business people out there.
You've told stories about Jose crying about Rodolfo having to move to Texas, like didn't speak English, came from somewhere in Central America.
From the time they started and believed in you to the time they actually made money, real money.
I mean, like, oh, okay.
How many years was that?
Well, the original guys, it took five years.
Right.
The original guys.
But for Sepalas, within a year, they made two, 200.
Within two years, they made $660.
But he's someone that had experienced the third year, they made a million plus with us.
But that's them.
But even Ricky and Erica, I mean, I think by their fourth year, they were making $750.
And they had never did, they didn't have it.
He was a club promoter and other things that Ricky was doing.
And Erica was picking strawberries and bacon.
Ricky was a club promoter.
He was promoting some other stuff.
But that's the safe word to say he's a club protection.
But the reason I ask that question is because, look, we see what's happening in the stock market today.
People have gotten so used to getting rich quick over the last few years.
And for me, you're talking, speaking of a club promoter, I was the brokest dude of all my friends, living on friends' couches until I actually had to suck it up, raise myself from the bootstraps and eat shit for a few years to actually make money.
And what I think is so appealing about those guys, you know, without going through the whole naming names is for five years they ate shit.
And now they're hanging out in Monaco.
That's the story of winning is that everyone these days, young kids, just think, oh, buy a Dogecoin.
I'm a millionaire now.
That's how it works.
No, motherfucker.
It doesn't work that way.
You have to actually work your ass.
By the way, I want to read you guys something.
I want to read you guys something.
I want to read you guys something.
So it's so funny you're saying this.
So this guy on LinkedIn is sending me messages.
I'm going to show you to read this message.
This guy on LinkedIn sending me messages.
Very nice guy.
And he says, hey, Pat, I'll read you.
If you want to look at it with me, come right next to me so I can read it together.
When is this?
What's the date?
Can you say the date?
June 16th.
Okay, June 16th.
10 days.
Great to see you're back to business again with Valutament Channel.
By the way, this message is for everyone who is getting started.
You're small, you're tiny, you're worried.
Look what he says here.
Great to see you back with Valutament again.
We would really like to help support your message.
I absolutely love your videos.
My team has created a few assets for you.
Is it okay to send them to you?
Didn't you get a chance to get back?
He says, these are TikTok videos.
I said, sure, email it to me.
Then he sends it to you.
So I look at a couple of these videos.
The way he did it, good.
I posted on TikTok, got a couple hundred thousand views.
I said, great.
So I'm like, okay, but have I ever like, is this the first time him and I messed up?
So I'm like, oh, shoot.
What's this message above that?
So I'm looking at $2,000 an hour.
What is this all about?
Then when I go all the way to the top, you ready?
Can you tell him what to do?
2015.
Who messaged you first?
Who messaged you first?
You messaged him in 2015 or 2015.
Listen to what I say here.
Listen to what I say here.
Gideon, I met you last year at Social Media World Conference in a class where you taught specifically on how to grow your YouTube channel.
I recently found out about V-roll and wanted to reach out to you regarding growing my YouTube channel.
I'm looking at have someone consult us on how to grow the channel to the next level.
You can find me on YouTube under the username Patrick Bay David.
We have roughly 2,700 subscribers.
Wow.
That is crazy.
Hey, look what I said.
Look at the innocence.
The innocence.
Wow.
I said I roughly 2,700, 600 golden citizen of 50,000 by the end of the year.
I'd love to jump on a call with you.
So here's the point, though.
Here's the point.
This is what I was looking for, baby.
The point is, the point is, like, when we didn't have bookers, I sat my guys and I said, guys, why do you think it's tough to interview a Mark Cuban?
I said, I'm going to be the booker, and I'm going to show you.
We're going to interview Mark Cuban.
So I reached out to Mark Cuban, and we got an interview with Mark Cuban six months later.
And it was an exchange.
What are you looking for?
I said, hey, do you want to, I can sell you 10,000 copies of your book?
He says, you think I need 10,000 copies at 65 cents?
No.
He says, but what I do have is an app I wouldn't mind driving.
You have to wear so many hats when you're small, building your business up that you can't be saying like yesterday.
We had a couple people that were consulting.
They came up here.
Two partners.
They're about to finish the business together.
The business is doing $5,6 million a year.
They're like, we're done.
Okay.
And it's an ugly meeting.
Okay.
And it's a software business that they have their best friends.
So they decide to go into business together.
And I said, okay, do you want to be in business with them?
I don't know.
Do you want to be in business with him?
I don't.
I said, what do you like about your partner?
Tell me what you like about your partner.
Give three things.
What do you not like about your partner?
Give three things.
What do you not like about him?
Give me things.
What do you like about his partner?
Give three things.
Okay, so here's what's going to happen.
If you don't change this, he's going to leave.
If you keep going like that, you're not going to get the best out of them.
So what do you guys want to do?
What is the vision?
So finally we wrote down that a company that sold $420 million for them, I said, is this a nice exit for you?
Because the other guy runs eight businesses.
I'd love to do that.
Do you believe you guys can do this?
Yes.
How long do you think it'll take to get to this place?
Five years.
What if it gets to half the price?
$60 million, you guys sell, you get $30 million, you get $30 million.
Are you very happy with that?
So why don't we solve for this?
So I said, what should we do?
I said, here's what you should be doing.
I gave this advice to another guy yesterday in real estate.
I was consulting.
This is what I said I would do.
I said, number one, who are the killers of your industry 20 years ago who are no longer competing?
Because whoever you talk to that's competing, they're not going to give you 100% of the best advice.
But if you talk to people who were in your industry 20 years ago, I want you to make a list of anybody who exited, did very well for themselves, find them.
Guess what they do?
They make a list.
They found a guy that exited for $45 million.
I said, I guarantee you, if you call him, he's in his 70s.
All he wants to do at that point of his life is to make sure his time was worth living and he wants to give value back to the next generation.
That's his legacy.
Him helping you is a big deal to him.
He says, Pat, we called the founder of this company that sold this company 12 years ago.
He was on the phone with us for an hour.
He wants to have dinner with me, my wife, and him and his wife to tell us everything we ought to do to take the company to the next level.
And the guy wants nothing from us, right?
These are the things that you got to do behind closed doors.
Nobody knows how business works.
When you first do YouTube, you don't come with a background of YouTube.
And when you first do real estate, you don't come with a background of real estate.
When you first do insurance, you don't come with a background of insurance.
But the hustle of you being able to figure it out on how to pull it off and learn and get better, that's who ends up winning.
By the way, in every single industry cross the board.
It doesn't matter what it is.
In every single industry cross the board.
But yeah, when I saw that message on Lynn, I love it.
And that was in March 2015.
2,700.
Look, can I give a shout out to our friends here, Jededi and Vinny?
Because there's a lesson there because they just started their new channels, right?
They took a risk.
Right.
They took a risk literally less than a month ago and said, screw it.
I'm leaving my corporate gig.
I'm leaving my typical stand-up life.
And I'm going to start something new.
Right.
And you've just crossed 5,000 subscribers, I want to say.
I don't want to sell you short.
You're about to hit 1,000.
You just launched it.
But what Pat's saying is in 2015, value tame and the offices that we're sitting here with.
5 million subscribers crossed the year.
25 years later.
2,700.
And we're trying to get it to 50K.
That's the lesson there.
Whether you're a YouTuber or a business person, it might take five years.
It might take seven years.
But look at us now, right?
And that's pretty much how every industry that's really worth it works.
I mean, television is the same way.
I talked first time I came here to talk to you guys.
I talked about how I did all that free TV.
It's not easy.
There's a lot of people in those moments that say, I can't do this because you think of it and you're like, I remember sitting at that time and thinking, you know what?
My teacher's salary is not great.
I have a small private tutoring company, but it's stable.
It's reliable.
It's coming in.
It's not all this stress.
And I had to make a decision, like, do I drop this all, which is reliable, stable, and go for the gold?
What do I do here?
And I had that little like devil angel moment, and I just went for it.
But it's very hard in those moments, even now, starting the channel.
I got 5,800 subscribers.
I think we're eight episodes deep.
I'm already like, all right, man, we got to get, you know, it's hard to kind of, it's hard to check yourself and be like, this is a process and do your best, work hard, but understand, like, there's steps that you're going to have to go through.
It's not going to be big, bang, boom.
That is, that's really challenging for me in particular.
Very, very challenging.
You know what I, what I told George when we, one of the nights we're sitting there, uh, oh, actually, no, yes, two days ago, we had this conversation on Tuesday.
I said, every time you level up, okay, so let's just say you've never made six figures before, you make six figures.
You're like, oh my God, I'm making six figures.
It's kind of crazy.
You ain't going to get to a million unless you're two tests away from getting to a million.
So you're like, oh, $100,000.
You're going to get tested two times before you get to a million dollar income.
And then you get to a million dollars.
Like, oh, I'm making a million dollar income.
You're going to get tested two more times before you get to a two and a half million.
Oh, John, John.
You're going to get tested again and tested again.
And every time in life, you will get tested because I don't think the next level is handed to you without you being able to show that you can overcome those tests.
This happens with content creation because content creation is to constantly stay edgy.
You may have had one video that goes viral and all of a sudden you're following is because of that.
And then you've never had any other videos that get a million views.
Well, you're a one, you know, hit wonder.
You're like Macarena.
You're a one-hit wonder.
That's what it is, right?
But you're not somebody that's like, can do it.
But then if you get hits after hits, after hits, and you're recreating.
So we kept recreating.
We kept recreating.
We kept recreating.
If you don't recreate yourself, the audience is eventually going to find somebody that's creative today because you used to be creative five years ago.
But just because you were creative five years ago doesn't mean you are creative today.
Times are changing very quickly.
And we have to keep adjusting and adapting.
The market favors people who keep recreating themselves in a big way.
And people's attention spans are right here now.
It's 30 seconds, less than a minute, whatever, whatever.
So it's challenging, but it's good.
Makes me think of Madonna.
What you just said made me think of Madonna.
Madonna.
Great Charles.
Recreated herself.
She's a creative genius so many times throughout her career.
The Madonna of the 1980s is not the Madonna of the 1990s.
She was always bringing something new.
You could love her.
You could hate her.
She was controversial as all hell.
Yeah, for sure.
But there was always something new and spicy.
And oh, do I like that?
Hmm.
I don't know.
Really interesting.
I think all those people that you look at who are famous, who are out there, who are doing something cool, there's always that creative component that kind of like shocks you every now and then.
You're like, is that them?
What are they doing?
You know, there's that element.
Wasn't she crazy about Warren Betty?
And then one guy.
And then they did Bugzi together or Big Tracy together.
And it's like, oh my God, it's my dream.
And, you know, one time, I don't know if you've seen the clip when she sees Antonio.
And his wife is there.
She's like, oh, my God, you have no idea.
Like, my biggest fantasy or like this.
You're like, she's such an interesting character.
Well, do you see what she's up to?
Very good.
She's an emergency.
She's kind of losing a bunch of people.
And Pat, she actually said in an interview once, she goes, I admit it.
She's like, I wasn't the best singer.
I wasn't.
But when you believe in you and you put in that work and the person, you go for it.
That's right.
She's a fucking, she's an icon, by the way.
Madonna.
But the hardest thing is when it's time to retire.
Exactly.
They don't want to go.
It's the hardest thing.
They don't want to be.
Listen, you got to kind of step away from this.
So I don't know if she's at that fast.
I don't think so.
No.
But there's a couple people.
I don't know how old is she now, by the way.
60.
62.
Do you know who she's put out an APB for?
Who?
She will not date anybody her age.
She will only date a young man who's fit and in his 20s.
That's it.
All right, guys.
That's her rule.
All right, guys.
I'm good.
You're good.
You're not in your 20s anymore.
Pick it up, guys.
You're too bad.
Do you have any strong feelings on the fact that she, who is 62, will only date a young man?
She's Madonna, Adam.
Well, but I'm in a moment.
I'm going to do whatever she wants.
Wait a minute.
What's your point?
I'm in my 40s.
She can't.
I'm not young.
When men do that, it's yeah, obviously it's no problem.
But when a woman does it, people are like, whoa, whoa.
But the only woman that can do that is Madonna type.
You can't just be some regular old 62-year-old that's like, yeah, yeah, I'm good dating guys my age.
I'm only going to date young hot dudes.
It's like, okay, good luck out there, Gladys.
It's not happening.
But if you're Madonna, forget about it.
Maybe you got some pull.
Madonna's different.
Separate.
She built different.
Guys, I'm getting worked up.
I love Adam.
I jacket.
Adam's swatted.
So we got 90 minutes today because we got to wrap up at 10.55.
So let's get into the podcast.
Which story do we want to get into first?
Let's talk about New York first.
Okay.
Wealthy, I know that's not number one, but let's get into it.
Wealthy New Yorkers who fled in 2020 took $21 billion in income with them.
That's IRS income.
And this is coming from the IRS.
Let me read the entire story to you.
So around 300,000 New York City wealthiest residents who fled during the early days of coronavirus pandemic two years ago collectively earned $21 billion in total income in 2019, according to new data released by the IRS.
So they collectively earned $21 billion in income.
The sum which was gleaned from the IRS tax filings were received in 2020 and 2020 represents the largest flight of capital from the Big Apple ever recorded, according to the New York Times, which first reported on $21 billion, billion dollar sum.
It is double the average of those who had left New York over the previous decade, according to the IRS.
21,000 New Yorkers relocated to New York to Florida in 2020, nearly double the average annual net loss from before the pandemic.
Large financial firms set up offices in Sunshine State, attracting a large number of professionals from the city, according to the IRS, Manhattan Transplants, living in Palm Beach County, earned an average of $728,000 a year.
Now, here's a question.
When I talk to people from New York and Jededai, this one's going to you.
When I talk to people from New York, they tell me, they say the phone, they say, Pat, all those people that left, they are coming back.
They're all coming back.
No one's going to stay in Florida.
You have friends there.
Are people that left New York coming back to New York?
Not really, no.
Especially if you owned a business and that business went through a lockdown and you had to shut it down and you had to figure out other options and you picked up your family and you picked up your business and you went to a state.
And now you're sitting in a place like Florida and you're realizing, wait a minute, I can make a heck of a lot of more money here because there's not as much regulation, the tax structure is different and you've just experienced a better life.
There's a lot of those people.
There's also a lot of people.
I think New York is going to have a really challenging time because of the structure that existed for a long time around the office environment.
You have all of these gigantic buildings.
They're a fortune.
The rents are extraordinary in New York City.
And now you have all this remote work.
A lot of those companies are not going back to in-office work.
I know there's a call for a lot of them.
There's a lot of them that are just not going to go back into that structure.
There's a lot of people who work in the tech field, companies like Google.
They're not going back into that structure.
You have all of these really big, really expensive, empty buildings in New York City.
I don't know what happens to those spaces.
I really don't know.
But a lot of the people that I talk to that left are not going back.
Some people, you know, keep a little bit of a footprint there.
They have family there.
They have friends there.
But there's really a growing distaste for a lot of what New York City represents now.
And until they get their crime, that's another thing.
You have some people that it wasn't about a business decision.
It was about a family decision.
The crime was through the roof.
They're in a place now where they feel safe, where they feel like their kid can run around and play, where they don't feel like there's a hefty hand of government, where the police force feels supported.
And they're saying, even if I do love New York City and what it represents in my mind, that's not what it looks like today.
So, New York City would have to take a big step toward reversing a lot of this damage.
And I don't know.
Remember, the prices have to be worth it, right?
It has to be worth it.
You have to say, well, I'm going to be in the cultural mecca of the world.
I'm going to be in New York City.
That's not a good sell if you can't walk through Times Square without taking your life in your hands.
It's very dangerous right now, still.
So I think a lot of these issues, it's not, if it were just one issue, it's not.
It's like lockdowns.
It's mandates.
It's, oh, is there going to be a second wave of this?
And I'm going to go through this again.
It's how dare you do that to my business.
It's this heavy hand of government.
It's crime.
It's multifaceted, the reasons why people left cities like New York, California, Chicago.
So it's going to take a lot to get those people to go back.
And some of them just won't.
I won't.
I'll never go back.
And mind you, you'll never go back.
I will never go back to living in the U.S.
And that's home to you.
That's home.
I love my city.
I love it.
I grew up there.
I like became who I am there.
I have a special bond with it.
I don't know if I'll be in Florida forever, but New York City, it's not what it once was.
You would have to show me that New York City can be amazing again.
And I'm not convinced that New Yorkers are going to vote for that kind of leadership.
Interesting.
And so being from Yonkers, New York, shout out to my mom and my aunt that are watching.
But yeah, because you see it, because it's a liberal state, right?
You think people would bounce and then they'd be like, you know what?
It's over.
We're going to come back.
But like you said, the crime is nuts.
Even my aunt, they don't walk outside at night.
There's no chilling in New York anymore.
It's dangerous as fuck.
And the fact that, what was I saying?
I lost my train of thought.
The fact that the fact that if you're a New Yorker and you love New York and you bounce and now you're getting used to this and now you want to come back, it's like, come on.
You know what I mean?
Also, you have to keep in mind, you bring up a good point about New York as a state.
The state's not like that.
You go upstate New York, it's a different world.
This is a New York City.
New York City is sinking that state.
Granted, the governor is a disaster.
She's an absolute monster when it comes to any issue of freedom or, you know, it's preposterous.
But regardless, that city is sinking the whole state.
So you have people living great lives in upstate New York and they're like, oh, they dread, you know, when those policies trickle out from New York.
And I'm pretty sure it doesn't help when like Amazon was in open in New York, didn't they?
Right.
When they're trying to open it in Amazon and then AOC and all them are like, no, we don't want you here.
Don't it's not business-friendly.
Don't bring your business here.
Yeah, take your business out of here.
Okay.
Yeah, all right.
I don't have to fight you.
By the way, what you said about New York City is more liberal and blue and the rest of the state.
That's literally for every state.
You cannot point to one major city in the country, not one that voted red, just so you know.
Yeah.
LA, New York, Chicago.
I'm just letting you know.
Every major city votes blue and all rural votes red.
And they're all sinking.
So there you go.
Exactly.
But anyway, they are the major cities in the country.
But here's my point.
You guys are from New York.
You're from LA, well, VIRN.
Born and raised in Miami.
I've only lived here my entire life other than my beautiful stint in Addison, Texas that I did for seven, eight months.
You speak so lovingly about it, Adam.
You love Texas.
I burned down in my apartment, never looked back.
But I've been seeing New Yorkers.
I've said this before in the podcast.
I've been seeing them play hopscotch with South Florida for 20 years now.
They come down, they have a great time on New Year's.
They live it up.
You know, when I was a club promoter back in the day, we're like, the New Yorkers are coming.
We're charging triple the price, you know, and then boom, they'd pay it.
You'd make some money.
Peace out.
And I would always wonder, when are these stupid suckers going to realize what we have going on here year-round rather than just two weeks for vacation?
And it took a freaking worldwide pandemic for them to be like, I'm done with this.
And obviously, we're seeing what's happening here now.
There's people in South Florida, and some of her are holding Mayor Franz's swords accountable, who I voted for.
I really appreciate the guy.
They're basically saying, you're bringing all these amazing people here.
You're bringing crypto here.
Look at, you know, Ken Griffin, Citadel Capital.
They're all coming here.
What about us?
Yeah.
I went to paying $2,000 a month in rent.
Now I got to pay $2,900.
I can't afford it.
So there's the good and the bad of all these New Yorkers bringing $21 billion worth of wealth down to South Florida or Florida in general.
Yeah, and by the way, what you just said is going to happen.
You're going to see some of the people who live in Miami that can't handle that kind of lifestyle.
They're going to live 30 minutes out.
They're going to live 30 minutes out.
And that happens in every city.
Like when Nikki Freed was here and she was talking about what about the people that can't afford it.
In LA, it happens as well.
People moved to Palmdale, California or Lancaster.
Remember, Palmdale, Lancaster was everybody moved to Palmdale, Lancaster all of a sudden.
Quartz Hill was like the place in Palmdale to live.
So that's going to happen as well.
The test, I want to challenge all of you guys this week to do something.
Everybody knows somebody in New York.
This week, I want you to ask your friends in New York and see their reaction.
Okay.
Ask them, hey, what do you think about this $21 billion of income lost?
And the story that just came out saying 300,000 people that left New York, the wealthiest, and they're staying in Florida.
Are you seeing people coming back to New York?
Do you have any stories like that?
And just watch their reaction because I said this.
I'm going to do you one better.
Bruno, finish this.
I said this to somebody who's in the publishing industry and she was in the PR business.
Her reaction was offended.
Oh, really?
What do you mean?
Everybody came back.
Bullshit.
They just left for that.
You don't even know what you're talking about.
I'm like, no, I'm just asking a question.
How are things in New York?
Everybody comes back.
This is the greatest city.
Nobody will ever leave New York.
I'm like, okay, that's great to hear.
Awesome.
Now, you know what's great?
You're going to New York.
I'm going to New York tomorrow.
He's going to New York.
That's literally what I was going to do.
He's going to New York Cabal.
That would be the weekend.
And Adam, you're going to do Man in the Street.
Yes.
Are you doing Madden League?
Yes.
It's literally.
You just gave me an idea.
I didn't know what I was going to film exactly.
Now you know.
That's perfect.
I will be there.
You'll help me write some questions.
I will.
I'll have my aunt and my mom come see you.
I get to meet your mom.
My mom and my aunt are in Yonkas.
This is amazing.
Also, what's really interesting is because I have friends that are working in the bar business right now, and they say it's all tourists.
The tourists have come back because they can get in everywhere now and the mandates have dropped.
But the people who made it like the New Yorkers, they're not there.
Like I even have a friend who wanted to open up a hair salon and she said, my, you know, she was working at another salon prior to COVID.
She's like, I want to open it up, but my New Yorkers aren't there anymore.
It's like, it's a very come and go type of feel to it.
It's a very touristy, here for the moment.
I got you what you just said.
So it's funny you say that because in LA, what's happening is a lot of the guys that are the job creators, those who are doers, they're friends who are doers left.
And they're stuck with some people that are not doers.
So even though they may love their state and they're saying, like Scott Rodriguez just coming and saying, I'd love to leave.
I'd leave it in a heartbeat, but my family's there.
And my wife, my in-laws' family's there.
So it's hard for him to leave.
And shout out to Scott.
You know, he gave a super chat and wished everybody happy 4th of July.
But a lot of people in LA who were like, well, I got to stay for my family.
It's very hard when you don't have people to have dinner with or lunch with or conversation with or just go shopping with or just hang out with.
Like, what happened to these friends of mine?
They're leaving.
That's an empty.
You may love your state as much as you love.
You may love your city as much as you love.
But generally, what you love about your city is the culture and culture is the people.
When the people leave, the city's not the city.
It's just real estate.
It's just land.
Yes, it's beautiful.
Yes, it's great, but it's the people in that city that make it great.
Now, do you guys think that that's going to affect the voting of that state?
Because obviously it actually helped them.
It actually helped them.
Yes, of course.
Yeah, because all the same-minded people left.
That's who left.
So if they wanted to strategically lock in voting and not have to worry, their strategies actually work.
It's working.
I got you.
Their strategies actually.
They wanted to shake the city and create a bunch of government dependents.
Why are we surprised?
What was the richest city in the world 80 years ago?
What was the richest city?
Detroit, what happened?
Detroit was winning.
The motor city.
Yeah, what happened to Detroit?
Hey, the politicians got involved.
Dearborn, everything ruined the entire city.
Everybody left.
So if it can happen to Detroit, we're not eating.
That's how I ended up in Florida.
My dad's from Detroit.
His family home moved to Miami in the 70s.
And then they started dealing with Pablo Escobar.
And then we won't talk about that, but that's how my family got here.
You guys just made a great point.
And that's why people that talk, I know the Republicans talk shit about Joe Biden.
But yo, Joe Biden is doing a fantastic job.
It's all about perspective.
They want that.
They want, you know, the middle class gone.
Be relying on the fucking government.
So he's doing, I mean, that's fantastic then.
He's doing exactly what he's supposed to do.
So good job.
Same promise fulfilled.
Yeah, good job, Joe.
Good job.
I'm not going to let you get negative on this.
No, not negative.
He did it.
He said that's what he was going to do.
I was doing it.
Joe Biden was like, Yeah, have a little respect for a middle class.
Respect.
Middle class.
Go fuck yourself.
And now he's doing a great job.
Pissed off Adam.
Yeah.
Now he's told you that.
All right, let's go to this next one here.
Is it more, it's now more expensive to own a home than rent one at any time since 2000?
So this is a story on page two.
Market watch.
The housing markets may be slowing down, but owning a home is still a costly proposition.
Two charts reveal exactly how expensive it is.
If you want to put that up there, Tyler, so people can see it.
Just over a year ago, the monthly costs of owning and renting were practically identical, according to a blog post from John Burns Real Estate. Consulting, now owning a home costs $839 more per month than renting.
The differential is almost $200 higher than any time since the turn of the century, 20 years ago, 22 years ago.
Daniel Wynne, senior research manager at John Burrs Road, across residential properties, renting a home would set back, set one back roughly 1962 across, according to data from Redfin, as of April 2022, two months ago.
But if a homeowner had put down 7% down payment for a home, they'd be stuck with a mortgage that would set them $21.14 a month, $152 more.
With demand now shifting toward renting, home builders who were once reluctant to sell rental home investors are now soliciting offers from investors.
Strong demand from investors will provide additional support to today's home prices when added.
So when you look at that chart right there, take a look at that.
Look how it's been.
It's been all about buying, buying, buying, and now it's renting.
And the last time it peaked, not even at that level.
What year is that, by the way?
Is that 05?
06?
06.
Yeah, exactly.
What's the red versus the blue?
Red is it's better to blue is rent.
Yeah, no, blue is rent, and red is own.
Okay, so it was good to own in after the financial crisis.
Always prices went down.
But other than that, it's always been cheaper to rent in the last 20 years.
Is what I'm saying.
But by the way, here's what you have to know, though.
If you look at this, this is what you have to know.
Look how sick that drop is on when it is good to buy.
Look what year that is.
Look at the exact month.
Right, exactly.
Go to the exact month.
Boom.
No, no, the month.
It's not financial crisis.
April 09.
April 09.
So April 09 is how much after financial crisis.
November 07 is when countrywide, new century, WAMU, everybody starts saying we're not doing pick a payment loan.
The no income, no assets.
Nina, they stopped doing in November of 07.
So if you look at November of 07, there, the drop is coming.
So it took November of 07 till April of 09, which means November of 07, April of 09 is how long?
That's 18 months, give or take.
So this means 18 months from April.
What is 18 months from April?
18 months from April is go eight months, then add another 10 months.
April is eight months, 10 months.
October of next year is going to be perfect time to buy, and it's going to go like that for about three years, four years.
Do you see that?
So from October of 2023 till about October of 2026, 2027, that's when it's going to be the best time to be buying.
So if you're sitting there, by the way, if you're a realtor right now trying to sell this, what I'm saying to you right now, you may want to not have them listen to this comments.
Don't share this message.
But if you're the person that is selling, And if you're thinking about selling, and again, we talked about this on the last podcast, don't be greedy selling right now.
Do not, if you're trying to sell, sell.
But if you're just trying to, like, you're thinking, maybe I want to sell, I don't want to sell, hang on to your house.
But if you want to buy, you may want to wait 18 more months.
And isn't it crazy?
Like, and we talk about this all the time.
Like, everybody's talking about the markets coming, the market's going to crash.
Have you ever thought that you'd actually say the words like, oh, my God, like people ask me, Benny, you're going to live here forever.
You're going to buy a house.
I'm just like, just waiting for that market to crash.
I never thought I'd say some shit like that.
Like, the only person that knew when the crash happened was Michael Burry, right?
He was the only one spinning.
Now everybody's like, come on, man, let's have everything crash so I can buy a fucking house.
Let me jump in.
And two things.
Number one, I'm shocked.
Do you see how like all the way to the right, basically when COVID hit?
Yeah.
April of 20, that's where a little red starts showing up.
You would think it'd be more than that with the fury of buying that's been going on.
It's clearly, if I'm looking at this, the only time it was actually good to buy was after the financial crisis.
That's what I'm looking at.
Of course.
I see blue, wave, like it's a liberal city out over here.
And then it's good to buy during the crisis.
Here's my point.
I say this all the time.
All the time.
Okay.
Owning a house and buying a house and taking out a mortgage and taking on debt ain't all that it's cracked up to be.
The Realtor Association of the World has done a great job of saying renting is throwing away money.
Renting is throwing away money.
What they want to do.
And my mom, by the way, my mom.
Exactly.
Because that's what the American dream was 50 years ago.
Buy a house, two-car garage, picket fence, 2.2 kids.
That's what the American dream is.
The American dream today is economic freedom.
Pick and choose wherever the hell you want to go.
Keep it moving and stay flexible and keep your overhead low.
So what people forget is that, all right, you know that if you're going to buy a place, first thing you're going to look at is the mortgage payment, right?
So typically, I mean, the last six months, it's gone from 3% to 6%.
That's double.
I'm not a mathematician, but I'm pretty sure 3% to 6% is double.
But the three things that people forget about when they go to buy a house, and for those of us that have bought a house, they get it now.
Those of us that have not is what I call the big three expenses.
That's your taxes, your maintenance, and your insurance.
Those are three things you do not have to pay for if you're renting.
Exactly.
So everyone's like, well, it's cheaper to buy or it's the same price.
It's like, yeah, go ahead and figure out what your maintenance is going to be, what your taxes are going to be, and what your insurance is going to cost.
Oh, you just moved to Florida.
You ever heard of a fucking hurricane, buddy?
You're going to need some hurricane insurance?
So there's a difference between an investment and a lifestyle choice.
Buying a house isn't exactly the best investment.
It might be the best lifestyle choice, but there is a difference.
You can look at the math.
If you put your money in the S ⁇ P 500 index fund over 10 years versus buying a house, the S ⁇ P is going to double what you're going to get for your house.
Got you.
Yeah.
There's also headaches and small costs that like you think of it in terms of you're talking about big costs.
But I've never owned a home.
I lived in New York City, so I always rented.
It just didn't make sense for me.
And there's little things that come up.
The dishwasher breaks, the washer dryer.
Somebody comes in, you rent, somebody comes in, rolls in and replaces that.
That's not your headache.
That's not your time.
That's not your money.
So if you add up all that stuff, it winds up being a much bigger picture of what the costs and expenses are to actually own a home.
I will say that the owning versus renting for me was always like a mindfuck because I always grew up feeling like if you own something, it's yours.
You have it at the end of the day.
You can touch it.
I don't like stopping because I can touch it.
And if they take everything else away from you, you have your home.
But, you know.
Shout out to the realtors.
The realtors and my mom.
Hi, Shalange, by the way.
But yeah, you know, that's a feeling.
That's a feeling that some of us had growing up.
And it's the same for a car.
I know my parents were always like, own your car, because if you lease it, never owned a car, always, you know, lease a car.
But that's just a mental game sometimes.
You have to play mental health.
But a car is only worth $40,000.
We're talking about a place that's worth a million dollars.
Yeah.
You know who I got to give a shout out to?
I think we are in certain cities.
PBD.
Because anytime I have this argument, I'm like, oh, oh, pull up that article.
Remember that article you wrote for the Denver Post back in whatever year 2004?
Pat had, I don't know, half a million bucks, million bucks in the bank.
You just started to do really well.
And you had to make an economic decision.
Do I buy a place or take all my money and invest it in the business?
What'd you do?
No, no, I put in the business.
But my idea was nothing gives me a higher rate of return than putting money into the business.
Bingo.
Nothing does.
I mean, that's just till today.
Anything, if I have access to capital, I'm putting that into the business.
I'm not putting that into a house.
Now, it's also different when you have eight people living in your house.
It's also different when you're positioning on where your kids are going to school.
It's also different where you want to paint the house in a certain way.
You don't need to get somebody's permission when you have all of that.
So life would, it would be slightly different for you if you had a wife and two kids.
But this is exactly what I'm saying, but it's a lifestyle channel.
No question about it.
You have four kids, you have your father.
You're right.
You've got Melville.
You're right.
Like you have to buy.
Absolutely.
But if you were just you and Jen and one kid, you would maybe even still consider it.
Listen, if I'm running a business today, if I'm a business owner today and I have a choice between putting half a million dollars into a house and putting half a million dollars into my business, the business is going to give you 10 times, if you're a good operator, 10 times more return on the money than real estate is.
So if you're in the inception phase of building a business and you want to use your resources to grow your business, you're wasting your money putting into a house.
A realtor will never tell you.
They'll never tell you that.
But by the way, here's a can you go back to that chart?
And Jorge, Eric, can we increase the mic by like 5% or 10%?
Because I can't hear myself.
So if you go back to this chart, so you know the concept of a slingshot?
What's the concept of a slingshot?
You pull it back and then boom, it goes 10%.
But the further you pull it back, what happens?
The further it goes, right?
Guys, look how much higher that is than it was at the peak in 07.
I love what you're making.
Do you know what that means?
That means the red that you see there, that red is going to be much lower.
Listen, I'm not, all I'm saying is if, and look how quickly the spike is in the last two, do you see the spike?
Like how fast it went up?
Boom.
It didn't go up that fast if you look at the one on the left.
The spike on the right only took look at that spike on the left.
Oh my god, this is scary right there.
Because this, if, if this, if we go purely on the slingshot metaphor, real estate in about three, five years, man, it may be like a two, it may be a stack cash and get ready to buy your dream home in the next six years.
Don't get rushed.
I don't brush our jewelry marketing because that guy didn't take my fucking house.
In some markets, it's about to be a massive dip if this continues the way it is.
By the way, can we follow this the next time this gets updated to see what the next one is?
Because if it goes even higher, let's update this chart quarterly.
Let's see what's going on.
Wow, revisit this chart.
Can you put this, save this to like favorites or something?
I will never complain about my $2,100 rent for a really small apartment.
Never again.
I mean, because everybody tells you when you move to your house.
You're right.
I'm looking to buy.
Don't even use the word buy.
I'm going to give credit where credit's due.
I've just walked in.
I just met him two minutes.
He goes, hey, you're new.
Come here.
Don't buy a fucking house.
I was like, hi, I'm Vinny.
Yeah, exactly.
He's like, don't buy a fucking house.
And then I slapped you in the face because you said, I think I saw me hide.
Don't do the exact same thing.
I said, give it a year, Jedediah.
Yeah, yeah.
Look at this.
Did this not prove my point?
He goes, save your money.
But then he made me take him to sushi across the street with his $300.
Wow.
It's a commission, right?
It's a commission right there.
Yeah, I don't know.
I don't know.
I don't know if people caught this message because this is real.
Wow.
If you caught this message, this is real with what's going on.
Anyways, and Michael Burry keeps saying it, and Michael Burry still doesn't want to do an interview with anybody.
He turns down every single interview that he gets asked to do.
But that is one guy you watch closely.
Two movies you got to watch.
Okay, two movies.
Go watch two movies.
Go watch Margin Call.
Go watch Big Short.
These are two movies you got to watch this weekend.
Listen, folks, listen.
Add it to your list.
Watch margin call and watch big short.
You'll realize what's going on.
It'll give you a hint for some of you guys that maybe don't like to read.
You'd much rather get your content, watch it, watch those two movies this week.
The difference is last time, 2007, 2008, it was all mortgage-backed securities and bad bets and Bear Stearns and these types of folks.
Now it's what?
Massive money printing, quantitative easing.
It's a different method to the madness, but it's I don't know what any of that means, but guess what?
It sounds scary as fuck.
Just rent is what that means.
Yeah, but people that actually know what they're doing with their money, and you don't have to get caught up in quantitative easing and mortgage rates and mortgage-backed securities.
Make money, save your money, be smart with your investments.
The recipe is simple.
Did you get that story I sent you yesterday, Tyler, with interest rates being projected to go up another three quarters of a point to a point in July?
And the lady that said it and Powell is like, oh, we're working very hard to not have the recession.
I sent you the story yesterday.
You should have it somewhere here.
But yeah, so anyway, so even with this going on, if the rates go another three quarters of a point next month to a point, that's going to go spike even higher.
Every time they raise rates, that's just going to go higher and higher and higher.
And Powell seems very confident that they're going to be able to prevent America from going into recession.
Folks, if the definition of recession is two quarters in a row, the GDP slows down today's what date?
I believe.
Today's what date?
Today's 30th.
30th of June.
Tomorrow is officially day one of recession.
Oh, shit.
If it's two quarters in a row, tomorrow is officially day one of recession and watch no one talk about it.
Wow.
Watch no one talk about it till first quarter of 2023.
Loretta Mester says Fed is on track for three quarters of a point increase in July rate hike.
Go a little higher.
Go a little higher to see what this article says.
Can you zoom in a little bit?
Federal Reserve Bank of Cleveland President Lauren says a U.S. central bank is on track for another big interest rate hike next month based on current economic conditions.
If the rate-setting Federal Open Market Committee meeting was being held today, Ms. Messer said Wednesday on CNBC that she would advocate for three, she would advocate for three port and coin hike, rate hike, because I haven't seen the kind of numbers on the inflation side that I need to see in order to know, in order to, you know, that we can go back to 50 basis point increase.
Wow.
Ms. Messer said high readings of inflation mean the Fed needs to raise rates quickly to restrain those forces.
So far this year, the Fed has increased its short-term rates from near zero to 1.5 to 1.75.
And officials signaled a number of further increases are likely this year as inflation has hit a four-year high.
Oh my goodness.
Okay.
All right, brace for impact, folks.
Remember when they told you this was transitory?
Say that again.
Remember when they told you this was all transitory?
Yeah, this was transitory.
Well, Janet Yellen, you know, she's a gem.
Powell says no guarantee Fed can avoid hard landing.
Obviously.
No guarantee Fed can avoid hard landing.
How do you process that statement?
The recession is coming.
It's coming.
He's covering his ass.
Of course he is.
Yeah, this is, yeah, we can't guarantee it's going to be a soft landing.
Of course it's not.
It's gotten harder.
The pathways have gotten narrower, Powell said at a European Central Bank event on Wednesday.
Nonetheless, that is our aim, and there are pathways to achieve that.
Go lower.
What is your pathway, Powell?
Power Zambia said is significantly more challenging.
Russia invasion of Ukraine, fuel oil prices have jumped 36% of nation sanctions.
Okay, listen, this is a real dilemma.
Yeah, this is a real dilemma.
And this is a real dilemma.
Look, here's all you have to be thinking about.
This is what you have to be thinking about.
If you're a short-term thinker, you're in trouble.
If you're a long-term thinker, you're doing fine.
A guy who runs a mortgage company in LA, I was talking to him yesterday.
I said, you know what event would sell out right now?
Maybe, can you tell this to Mario?
Maybe we even put it together ourselves.
We just booked five.
We're about to announce the five speakers at the vault.
It's freaking sick.
The two show, the two entertainment alone that we're going to be having, many people will just come for the show, but you'll be surprised who we're inviting today.
It's freaking jam-packed.
More than the two events vault we put together combined.
We'll be announcing that.
Can we go?
Maybe we announce the next Tuesday.
But I'm going to say this to you here.
If I was, maybe just make a note we'll do this event.
Just make a note we'll do this event.
And we're going to charge pretty much nothing.
The tickets for this event, the tickets for this event will be practically nothing.
Nothing on this.
$500 tickets, like cheap tickets will do.
Here's what I'm going to do.
I would put a mortgage event right now, a two-day mortgage event, okay?
And at this mortgage real estate event, I'm bringing all the godfathers, fathers of real estate from 20 years.
And by the way, if somebody else wants to do this, go do it.
I really don't care.
I'm not going to be upset if somebody else takes this and does it before I do, so I don't have to do it.
Somebody needs to do this event.
Have an event with all the godfathers of real estate that were around that they're out in 08, 07, the ones that were in the 90s when real estate took a crash, and have a lineup of all of them with a panel for two days and have realtors, loan officers only show up.
You would sell thousands.
You'd sell out the, what is this arena you're lying in your arena with?
FTX.
You would sell out.
What's about Samaritan?
You would sell out the FTX arena of realtors and loan officers to sit down and say, I would have Bernanke there.
I would have the guys that mess with, I would have any one of these guys that were involved with rates, Fed, all of that in a room saying, guys, how ugly is this going to be?
Tell us so we can prepare.
Short term is going to be ugly, but I think the guys that are in it for long term, I think they're going to be fine.
Sell your exotics.
Sell your Patec Felipe watch.
Sell all of that mess.
Wives, if you're listening, I told this to a wife yesterday.
Take a break from Chanel for three years.
Take a break from Louis Vuitton for three years.
Take a break from Hermes for three years.
Go back to Coach.
No more Neiman Marcus.
No more Nordstroms.
Go to Macy's.
Go to Walmart Dial 17.
Target has got a lot of good selection for you.
If you want to go there, Amazon's got great selection.
Forget about the name brand for the next three years.
Rather than driving a Bentley, go drive that Chrysler that looks like a Bentley.
Rather than driving a Ferrari, go get a Corvette.
Looks just like a Ferrari.
Rather than driving any of the Rolls-Royce Phantom, just go get a nice sedan-S-Class.
It's $100,000.
You don't have to pay $500,000 for that Phantom.
Just back up a little bit the next two, three years.
Luxuries, set them aside.
You got a Patec Felipe watch or Rolex?
Go get yourself a citizen.
It's still going to tell you the time.
Maybe get an Apple Watch if you want to.
But it's a time to take a break.
I want them to cut this up into a short clip and put that out because you're absolutely right.
This is exactly what people need to do because there's been so much easy.
I thought like the Hermes, the Chanels, the Louis Vuitton's world were going to get crushed during COVID.
People out of jobs, people not traveling.
There's no one to impress.
They've skyrocketed.
For a brief period of time, the owner of LVMH, what's the French guy's name?
I don't remember.
Look up the owner of Lee.
Ridiculously, Reno.
He became during COVID, Bernard Arnaud.
Bernardo.
That's because I hang out in Paris.
He became the richest man in the world ahead of Bezos and Elon Musk for a quarter during COVID.
Because all these people got their stimulus checked.
Time to go get that Louis backpack.
And I thought these companies were going to get crushed.
They skyrocketed.
But their time is coming.
You'd have to call that event the Godfather's Real Estate.
That would just look like a bad thing.
I am so tempted to host this event at FTX and just do it.
Do it.
Sell tickets for nothing and invite everybody.
Godfather.
Mario said he's excited to plan it.
Yes.
By the way, let me ask you a question.
How many of you guys who are in real estate and mortgage would want to attend?
Like, how much is it to rent out FTX Arena?
How much would it be to rent out the government?
Oh my God.
Can you text Keith to see if he can find out?
Sure.
See how much it is to rent out the American Air Force.
You can't get a brand with insurance and everything.
If we did it for one day, if you have interest, you're in real estate and mortgages, you want me to go call these guys and bring everybody in a room.
What would you spend for a ticket?
If we do it for, I'm going to do it for cost.
Whatever the cost is, we'll cover it.
$500, $1,000 a ticket.
I think everybody in the mortgage real estate business needs to be prepared for this time to come.
So find out if we can get the FTX Arena and how much that is.
Maybe we'll do that event.
So this is my question, Pat.
Like we're talking about people.
Don't go buy the Maybach, buy the S-Class for $100,000, or don't buy Hermes or Chanel or whatever.
What about the people that literally have never been in that realm that were only making $50,000, $60,000, $70,000, $80,000 a year?
They have a new response for you as well.
Now they're in retirement.
And as you see, we've lost $3 trillion of retirement savings.
What do they do?
Fantastic question.
By the way, fantastic question.
So let's talk to the baby boomers.
You ready?
Let's talk to the people above 60.
You want to start at that generation first?
Yes, absolutely.
Let's start there first.
Okay, if you're 60, I hate to say it to you, you're not 60.
You were 60 60 years ago if you were 60 then.
Today, if you're 60, you're 40 years old because you're living to 85 years old.
Stop thinking you're 60 years old.
You're 45 years old.
You are naive if you're with all due respect to boomers.
I got respect for you because you came before I did.
With all due respect, if you are naive if you're a boomer at 60, thinking about retiring in five years, you ought to change your retirement plan to 12 years at 72.
Not because, oh my gosh, that's so unfair.
The government is so unfair.
No, because you're going to live longer.
And if you decide to retire at 65, you'll be broke at 79 years old, miserable, being a little bit of a challenge to your kids.
You may even come in between your kids' marriage, whoever they're married to, because they're going to be sitting there behind closed doors and beds saying, how much more money do we have to take care of your mom?
How much more money do we have to pay for your dad?
You may cause a divorce amongst your kids and whoever they're married to.
So game plan.
You're 60, you're going to 72.
Have the conversation with your wife.
Have the conversation with your husband.
Go get a side gig.
Whatever that side gig may be.
Do real estate.
Go do retirement.
Go do insurance.
Guess what?
Sell whatever people at your age are interested in because that's your market.
Go sell MedSUP.
Go sell MedAdvantage.
Go sell a long-term care.
Go sell whatever experience you are going through.
Go sell a 401k and say, listen, this was my 401k, a $700,000, $700,000.
It's at $420,000.
If you're like me, this is what I'm doing.
Do you want to hear about it?
Figure out a way to generate income for yourself.
I talked to a lot of them at that age, 60 plus, and a lot of them are flat out saying, I'm not retiring at 65.
And they have a million in the bank in their retirement.
And they have 2 million in retirement.
A million, 2 million in retirement today at 60 years old is nothing.
That's crazy.
Because you got to plan for at least 25 years.
You have to plan to 85.
Don't solve for, I'm going to die at 72 years old.
No, you're going to solve for 85 years old.
And by the way, everybody else, 30-year-old, 40-year-old, 50-year-old that's going through a mess, maybe, by the way, the divorce business is going to blow up next two years.
Yeah, I can imagine.
It's sad, but it's going to blow up the next two years.
Therapy is going to blow up the next two years.
I hate to say it, and I hope this industry doesn't blow up, but they're going to, because the first thing doctors are going to prescribe is what?
Antidepressants are going to blow up the next two years.
You're going to see a lot of weird stories the next two years.
We talked about this the other night that we're here.
If you're listening to this and you're scared, only be scared if you're not planning to increase your value in the marketplace.
You have nothing to be scared of if you are going to be improving and learning two, three, four, five new skill sets to improve yourself in the marketplace because the market is going to pay you if you improve.
The people that are scared today are the people that are watching way too many TikTok videos, way too many Instagram videos, way too many Netflix shows, way too many video games.
Let me tell you, if you're watching this, get off this podcast because this podcast is going to be very scary for you the next three, six, 12 months, because I'm not going to stop talking about this.
Get off your damn video games and the Netflix.
Take a six-month sabbatical from Netflix and freaking video games and TikTok.
Take a break and go learn a skill set.
Go on Udemy.
Go on Plural Side.
Go on any of these whatever courses you can take.
Go take some masterclass.
Go take a work under somebody to learn something.
Go watch some YouTube videos from people that are teaching you.
There's great real estate YouTube videos.
There's great insurance YouTube videos.
There's one called Seven Figure Squad.
There's so many of them that you can go learn from these people out there.
But if you don't do that, don't blame the government.
Don't blame the rich people.
Don't blame your parents.
Don't blame your family.
Don't blame anybody if you refuse to improve you the next two years.
And by the way, I hate to say it to you.
This happened to my family when I got out of the military, 1999.
I got out of the military.
My dad had another heart attack.
He went to the hospital.
We were watching the game where Alan Iverson made that shot over Tyrone Lou came in that he says, take me to the House of Hospital.
I'm having a heart attack.
I took him to the hospital.
He's having a heart attack.
I'm sitting like, oh, great.
49K in debt, buddy.
You're killing it, PBD.
What are you going to do?
The only thing you know how to do is shoot a freaking rifle.
And you're not even an expert at it.
You were advanced.
So what am I going to go and say, hey, listen, IBM, you guys need somebody with a good deal.
I went to say, I'm going to be a Hummer mechanic.
I'm going to go be the best Hummer mechanic in California.
There were two Hummer dealerships.
One was in Camarillo.
Here's what the guy said in the interview.
No joke.
He told me, he says, sir, I said, I'm the best Hummer mechanic in all of Fort Campbell, Kentucky.
Look at my, I'm sick.
I'll be your best.
He says, sir, we sell two Hummers a month.
We have one mechanic and it's one too many.
That's a perfect.
We don't need you.
I'm like, shit.
What a waste of a skill set.
I can shoot and I can fix hummers and I'm broke.
You still got hope.
That's bringing it back.
There's still hope.
But the point is, I sat there and I said, I'm going to increase my market value.
I think that's what everybody can do.
That's amazing.
If you don't do it, you should be scared.
If you do do it, don't worry about it.
Future looks bright.
Let me tell you something.
Number one, you're on fire today.
I love this.
So I love what you're saying here.
Let me talk to the older people out there, aka if you're not listening, your parents, and then I'll talk to people our age.
I actually had this exact same conversation with my mom this week.
My mom's 70 years old.
I go, mom, don't plan on retiring anytime soon.
She's a nurse.
She runs the front desk at a nursing facility.
You're going to be working until you're 80.
Get used to it.
What are you going to do?
Retire and do freaking nothing?
You don't golf.
You don't play mahjong.
There's nothing for you to do.
A generation ago, you hit 65, 70.
That's it.
Time for Social Security.
I'm dead in the next five years.
My mom, God bless, God willing, is going to make it to 100.
Okay.
So are all our parents if they take care of themselves.
What are you going to do?
Live on the government for the next 30 years with your couple hundred grand and your 401k?
It's not going to happen, mom.
Keep working.
Now, what to Pat said, and this is exactly what I tell young people, you have two choices to what to do with your time.
Your time is your greatest commodity.
You can either spend your time or invest your time.
What Pat's talking about, playing video games and being on Netflix, congratulations, buddy, you spend your time.
I was the king of spending my time in my 20s, clubbing, partying, fantasy football, fucking about.
Until I had to like time to invest my time reading, content creating, networking.
That's when I saw my life improve.
So the choice is yours.
Yeah, and just piggyback on view.
So my mom's retired.
Pat, my sister, Veronique, she's retiring from the Air Force next month after 25 years.
She's getting out.
Well, she's not retiring and kicking her feet up.
She's going to use the skill sets from the military.
She has to get a fucking job.
You know what I mean?
Because her and my mother are moving to California.
My mom's income and my sister's income are going to just basically just get them rent because they're not going to buy.
You know what I mean?
They have to rent right now in California.
So that's how you're right.
Yeah.
And also, I think it's an opportunity to kind of like think about what you really like.
I have a friend whose mom retired from, you know, traditional job she's had for years.
She always liked, this sounds crazy.
She always liked basket weaving.
She started a basket weaving business and is selling this stuff at home, doing creative, went on Etsy, started a shop.
You know, so it doesn't have to be, a lot of people say, oh, I worked in an office for X amount of years.
I'm burnt out.
I can't.
It doesn't have to be in that box, that way of thinking.
You could branch out.
I have another friend, 50 years old, became a personal trainer, decided that was always a passion of his.
Didn't do that his whole life, was in banking, hated banking, got out of banking, was like, I don't know what to do.
Let me go do something different.
So it doesn't have to be like this straight line.
It can be kind of all over the place.
Think of it like a tree branch.
I've even thought about getting a personal training certification.
I love to exercise.
Why not?
Why not have that in my back pocket?
If I ever want to open a spa, if I ever want to open a gym, which is a dream that I have to open something wellness-oriented, me having that certification, that's a plus for me.
So I'm thinking about doing that right now, even though I'm doing the podcast.
It doesn't have to all be, you know, eggs in one basket.
You can really think outside the box.
And now more than ever, I feel like it's a time for people to do that of all age brands.
Let me tell you something that, because obviously you know my core business in the insurance world and life settlements.
60, sorry, 100,000 baby boomers turn 65 every single day.
Wow.
Okay.
For the next decade.
Baby boomers, up until millennials became the largest generation, 80 million plus, are the largest generation.
So this is advice to your parents.
Like I doubt there's many seven-year-olds listening right now.
There's a few, but the hardest thing you to do at 65 is realize you probably are going to live another few decades.
Yeah.
And it's going to be, it's very hard to do, especially if you're not technologically savvy, to update your skill set.
But, you know, it's hard to do, but you got to do it.
And if my mom's listening, my mom, dude, my mom is one of the best cooks ever.
Mom, Gordon Sav Z truck or a Kip Ted truck.
Just start selling.
I mean, my mom is classic.
I don't know what you just said, but I know you said the person in the future.
Are you asking your mom?
I'm like, crack for middleware.
Crack for Middle Easterns and Pat.
That's a good one.
That's the best steel in the world.
And I promise you, and we're going to make it, I'm being real.
My mom is one of the best cooks, and I've eaten a lot of food from a lot of different people.
My mom's going to come visit.
She already made carrot cake that one time that I almost got arrested at an airport.
With the flower.
My mom puts it remember that?
Guys, you want to laugh?
This mom showed up with a bad cake.
My mom goes, no, no, yeah, flower.
Hold on.
No, So my mom, I love it.
What's wrong?
My mom makes a carrot cake and it's your competition worthy care.
I know people.
Patrick, am I right?
No joke.
Sick.
So I'm coming here.
I'm moving here.
Got the job with Pat.
And my mom makes this carrot cake.
And there's confection sugar that you're supposed to put once you serve it.
She puts it in the middle of the cake without letting me know.
I show up to fucking LAX.
My bag goes through.
And I'm not joking.
You know the x-ray people?
You can't really see them.
It's a black girl.
And she just sits up and she goes, oh, hell no.
I'm like, what?
She's like, is that you?
Secure cops.
Everybody, I go, what the hell's going on?
I'm not stupid.
I don't bring, I don't have drugs.
I'm not.
She goes, what the hell?
She pulls out this bag.
It's confection sugar.
It looks just like cocaine.
And my mom writes a note.
This is sugar.
Don't this is not cocaine.
And then the guy goes, oh, this is the first time we've gotten the, this isn't cocaine.
This is sugar drink.
That's amazing.
But like, she, my mom's cooking is amazing.
We might have to open up a carrot cake shop, but that's exactly what all our moms and dads need to be reconsidering.
Rather than aging out of the workforce, reinvent yourself.
During times of crisis, small businesses get started.
Mom, remember this.
Small businesses get started during times of crisis.
So awesome.
Okay, let's continue.
Let's continue with the next story.
Next story is TikTok.
Okay.
FCC commissioner urges TikTok to be removed from Apple Google stores over unacceptable national security risk a Fox business story.
Let's see what this is all about.
So, here we go.
In a letter dated June 24, Brandon Carr, the Commission of Federal Trade, Federal Communication Commission warned Apple CEO, Tim Cook, an alphabet CEO, Sundar Pichai, of an alarming new report that shed fresh light on serious national security threats posed by TikTok.
TikTok is not what it appears to be on the surface.
It is not just an app for sharing funny videos or memes.
That's the sheep's clothing Carr wrote.
At its core, TikTok functions as a sophisticated surveillance tool that harvests extensive amounts of personal and sensitive data.
TikTok, available to millions of Americans through Apple and Google online stores, is owned by the Beijing-based company Byte, an organization that Carr asserts is behold to the Communist Party of China and required by Chinese law to comply with the PRC surveillance demands.
I would understand this under a Trump administration to come out a story like Trump and Biden, guess what it is?
It's real.
Yep.
I agree 100%.
It's real.
How do you feel about this?
Yeah, I mean, I don't have TikTok.
I've thought about it.
I think it's appealing, like as, you know, a tool.
I thought about it for the show, but I am concerned about this.
You remember when Trump brought this up and everyone was like, oh, that can't be.
He's just trying to shut down a company.
He's trying to be, you know, he's now big daddy government.
But the reality is there's a lot of stories.
There was a story that came out in BuzzFeed recently about this that was talking about how there was data of U.S. users that was accessed by entities in mainland China.
So it's a concern.
Are they harvesting data?
What are they doing with the data?
Are they holding on to it?
What kind of personal data are they able to retain?
What are they going to do with it?
I mean, you don't want the Chinese government having access to that data.
So it's a concern.
And it's interesting to me because this has been a story that's now gone through two administrations.
This doesn't seem like it has a political bent to me.
It doesn't seem like it's a part of a political narrative.
So I'm surprised that more people aren't tuned into it.
And this is TikTok is the home of young people, right?
Young people are plugged in left and right.
So do they not care?
Like, is this not a concern at all?
I mean, privacy, privacy, I understand people feel like in 2022, you know, privacy is dead, but they're talking about your personal data, your personal information that could be in the possession of the Chinese government.
So yes, absolutely 100%.
This is something that crosses my mind.
Every single time I consider doing a TikTok, I take a pause, I sit back, and I don't do it because I'm worried about where this data is going, who's holding on to it.
And then they said something about, oh, we can modify this and we can have, you know, it be controlled within the United States.
Well, that doesn't matter.
It doesn't matter.
All of that data is still going to be transferred over to China.
It's still going to be in their possession.
So I think it comes down to a question.
These are, again, this doesn't seem to be politically motivated.
This is crossing to administrations.
Are you comfortable with your personal data potentially being in the hands of mainland China and the Chinese government?
If no, you might want to consider your presence on TikTok.
If yes, I don't know what to say.
And I piggyback on a verse.
And I think this is what's messed up.
You could tell all these, all these kids, all these middle-aged people that are on there the truth and what's happening.
They're addicted.
They don't give a shit.
You could tell them.
And they're making a shit ton of money, Vinny.
They're making a shit ton of money.
Yep, 100%.
You could tell them to their face, this is all going to China.
You know, God knows what the hell they're doing with it.
You know what they would say?
Okay, fine, whatever.
I got to leave.
I have to go make another video.
Same thing with that.
Remember that old face swap app?
Look how everybody and their mother was doing it.
It was during the pandemic.
That's a Russian-based company that facial recognition.
They got all your goddamn faces.
And that comes back to my point.
I was actually talking about this to Rob earlier.
Bro, China is, they're just gangster, bro.
They can do whatever they want.
They own us.
They can get away with everything.
Bro, still to this day, like we still haven't held them accountable for COVID.
Isn't that crazy?
That's how gangster China is.
What are they going to do with it, though?
The data.
You think about it.
Like, think about an influencer, you know, a 20-something influencer now making half a million dollars a year off of TikTok videos because they do.
You can make a shit ton of money.
And it's not hard to make money on TikTok because of the way the algorithm works.
If you post a lot, you can make a lot of cash, which is why I was like, hmm, should I consider that?
It's good show promotion.
But what is the Chinese government?
That's the other thing.
Because I think people sit back and they read a story like this and they say, well, what are they going to do with my stuff?
I'm just an influencer.
I'm promoting products.
I'm 20-something years old.
They're not going to harm me.
So what?
That's the question for me, too, though.
Well, you know how to do it.
What are they going to do?
Your picture, your images, your personal information.
How's that going to be used?
Your voice.
What is that data breach?
What is the potential?
Where can that land?
That can be scary for your average 25-year-old who sees themselves as disconnected from this story.
I don't know.
Yeah.
Well, they say, you know, regarding social media, if you're not paying anything for it and you're not buying a product, you are the product.
100%.
Okay.
So with TikTok, I believe this is China's sort of TikTok Trojan horse into America.
And Trump has been talking about taking away TikToks for two years now, right?
Yeah.
But for young people, two things.
They've grown up with scroll, scroll, scroll, except they don't, they're not reading the disclaimer, what's happening with the data.
So what they're doing, three things to take away from young people.
They're taking away their minds, right?
Needlessly just scrolling, seeing stuff that's not helping their lives.
Number two, they're taking their time.
And like you said, number three, they're taking their data.
What they're going to do with their data, whatever the hell they want to do with the data, why do you think Tesla is almost at a trillion dollar market cap or when it was?
It's not because they're selling the most cars ever.
It's because they're collecting data.
They're collecting data.
Tesla, I think Elon Musk is famous.
He said, we're not a car company.
We're a data company.
Yeah, I remember that.
So let me say a couple things here.
So I eventually ended up on TikTok.
Okay.
And if you follow my TikTok content, it's what TikTok doesn't want for it to be on.
Okay.
So that's my approach with TikTok.
And the audience is young.
So if I'm in the job of persuading you to consider other options and philosophies in life, I want to talk to people that are disagreeing with me.
I don't want to talk to people that agree with me.
If I talk to people that agree with me, who am I converting?
Nobody.
I want to challenge your way of thinking that if you disagree with me, I've been putting content on TikTok for about a year now.
Okay.
And a few of them go viral.
One got 5 million views.
Few of them, like 10 of them, got a million views.
And they spread, by the way, much faster than Instagram.
It's not even the samely.
Two videos.
One of them got me taken off of TikTok for a day that I sent an email to them and support and they apologize.
The video that got taken down is when we talked about Nancy Pelosi's husband, People that were saying, if you want to be able to predict the market, invest in whatever Nancy Pelosi's husband invests in.
I got taken off of TikTok for that.
Surprised.
I sent an email to them and a TikTok support on TikTok got back and said, I'm sorry, it's a mistake of ours.
You know what's the other one that's not been taken down, that they took down the video, but they didn't suspend the account.
It was when we talked about AOC's biggest nightmare is who.
AOC's biggest nightmare is who.
Do you remember when we say here?
Look at this.
Community guidelines violation, right?
This video.
What's the thumbnail?
Just read the thumbnail.
AOC's worst nightmare.
AOC's worst nightmare.
Do you remember who we said AOC's worst nightmare was?
Who did she go with on Twitter?
Oh, when she was going with Elon?
Elon Musk.
That video is to say AOC's worst nightmare because when Elon said, hey, I'm shy, don't do this.
Do you remember that whole thing?
They have not.
This video was uploaded May 27th.
This video has not been taken back and I disputed it.
And they said, we've had your dispute.
We're still considering it.
It's been over a month.
So it's stuff like this that TikTok does, which tells you politically which way they're leaning.
Why did you not take those videos?
What's the big deal?
I didn't say, we didn't talk about vaccine.
It was not mask.
It wasn't COVID related.
It was nothing about that.
AOC and Pelosi, both of those reasons, the videos got.
So now, Brandon Carr, this guy, Brandon Carr.
Who is Brandon Carr?
So here's who Brandon Carr is.
Check this out.
The guy got nominated.
He ended up being chosen to be the Federal Communications Commission's in 2017.
Guess who assigned him that job?
A guy named Donald Trump.
He was confirmed August of 2017.
Do you know what's unique about this?
When you get this job, guess how long your job is?
How long is your term?
Five years.
Oh, wow.
Guess when his five years is coming up?
Next month.
So he may be getting fired.
I would not be surprised if this guy gets fired within six weeks.
If he gets fired within six weeks, this is his last chance to bring attention to TikTok being a concern.
And we're going to see if they're going to do anything about it.
If this guy does get fired, just assume it's to protect TikTok.
If the current administration, Biden, chooses to investigate this and go a little bit deeper, that means it is a topic that they're both on the same page with.
And by the way, before speculating, let's see if Brandon gets fired six weeks from now.
If he gets fired six weeks from now, we can speculate.
As of right now, all I'm telling you is the guy's job expires in the end of July.
Okay.
So let's follow this story to see what happens to this Brandon Carr guy.
And there's a reason that his term, I'm assuming, is five years.
It's because you're not going to get fired when the administration comes in.
You're going to at least have a year to kind of navigate the waters and transition.
But are you not concerned?
Because I remember you were debating.
We've talked about the TikTok.
You weren't on TikTok over a year ago.
I don't know, China Trump.
But you must have said, all right, there's the pros and the cons, kind of like the angel and the devil.
You must have said, all right, the pros, I'm going to put out content.
I'm going to convert the convertible, speak to people different, but you must have some data concerns, no?
Of course I have some data concerns, but my concern is more of philosophy concern.
So people say, why would you bring so many communists that you're interviewing?
Do you not realize they're indoctrinating young people who watch your content?
No.
I want to talk to those guys.
So their arguments you get to choose and say, well, that definitely didn't make sense.
Like, remember the guy that said, I'm going to give $70,000 salary to all my employees.
Do you guys remember that one story?
What was the guy's price?
Dan Price, right?
If you've never seen this interview, go watch it.
I told him, I said, I can't believe you accepted the interview with me because, but I'm impressed that you did.
So I said, so how did you structure your company?
He says, I don't believe.
He says, I also only make $70,000 a year.
So really?
Yeah.
Everybody on my company only takes $70,000 a year.
I said, wow, it's very interesting.
I applaud you.
I said, what's your company do?
Well, we do around $40 million numbers per year.
So, okay, so if we take 20% on margins, 30% on margins, so it's about $100 million company.
He says, yes.
He's got a sweet.
You have to watch this.
I said, yes.
I said, so the same, I said, so how many employees do you have?
He said, 100 employees.
I said, so I'm assuming you've also given a percent of the company to all your 100 employees because that's when it means you're a total socialist when you're being fair with everybody.
Who owns the entire company?
I do.
I said, Dan, if you really are so concerned about your employees, when do you plan on giving each of them a percent?
If you've never seen this interview, you haven't seen this interview.
Absolutely.
He says, I think you should go full.
So go one more step.
Don't just stop at 70.
Take a percent and give it to everybody.
Well, you know, technically tax ICAN said, no, no, you can't do that.
I've done that.
I did that myself.
I gave some shares to my guys, not 100% of them, but I also don't agree with you the fact that everybody should make 70 grand.
I think some people should make more money and some people should make less money and some people should get fired and somebody should get promotions.
So the point is, you go on TikTok where the young people are to say, huh?
That does kind of make sense, but I can't agree with it.
That does kind of make sense, but I can't agree with it.
That does kind of make sense.
I agree with it.
Shit, I agree with too much stuff this guy's saying.
Damn, this is not good.
Yeah.
Because my professor I loved, he would have hated this guy and what he's saying.
But I'm starting to like what they're saying.
What is going on to me?
Am I like getting that's why I'm on TikTok?
I got you.
Does that make sense?
Yeah, I'm making money on TikTok.
Like, what's my, am I trying to go do a video on TikTok to be famous?
No, that's not the strategy.
The strategy is to get these guys to looking at other people.
Let's see when we post this on TikTok if it gets flagged or community guided.
We're about to find out.
We're about to learn a lot of it.
And I'll keep you upstairs, updated next, because I'm sure we are going to post that on TikTok.
Okay, let's continue.
Next story.
Do you guys want to go to the trans skateboarder?
Let's go to that one right there.
So even with trans.
Which one you want to go?
Our friend.
You want to go with Jordan Peterson?
I don't know.
I mean, that's all.
Let's go to the skateboarder first because we have some skateboarder fans.
So trans skateboarder who won first prize against teen is a combat vet dad who was rejected from the Olympics.
Okay.
All right.
So let's see what the story is.
29-year-old biological male who came in first place at a New York women's skateboarding competition is a father of three and a combat veteran who was previously rejected from the Olympics for having too much testosterone.
This is not a joke, though.
I thought I wrote this as a comedy.
This is not a joke.
So Richie Tress, who also goes by Richie and Tress, won over Shiloh Katori, a 13-year-old girl who was ranked 133rd in the Border Global ranks, which are based on performance and skateboarding competitions.
Tress by comparison sits at 838 in ranking.
Tress took the top title in the women's division of the Border Open, taking on $500.
I have three kids.
I'm married.
I did my time in the military.
I own a company.
I've decided I like being pretty and cute.
Tress said in an interview about skateboarding last year.
So everything that goes with that is female.
I love female bodies.
I think it's a work of art.
Are you positive this is a true story?
It's 100% a true story.
I thought this is on Fox News.
I thought he was trying to.
Can you troll us, but this is no, that's real.
That is real.
That's real.
Listen, sometimes you just want to be pretty and cute, Jed.
You understand?
Like, and I want to beat the shit out of 13-year-old girls that their dreams are just crushed.
See, this is where this conversation has gone now.
Now you have a 29-year-old biological male who is beating a 13-year-old girl in women's sports, and we're all supposed to sit, swallow it, and say, oh, this is the new norm.
This is destructive.
This has been a stain on women's sports.
You now have a lot of female athletes coming out and saying, you know, they're afraid to talk.
They're afraid that they're going to be sticking because they're afraid they're going to be stigmatized.
They're afraid the second they open their mouth, the media is going to come in.
You know, you're going to have some article in Cosmo magazine about them and calling them a bigot and you're anti-trans.
When in fact, these are girls who've worked their entire lives.
They have struggled their entire lives.
They've made sacrifices.
They've decided not to party, not to hang out with their friends because they have a commitment to sports.
They finally get to the top and now they have to compete with a grown man.
And no one's allowed to say that it's a grown man.
So you have some sports that are coming out now.
What was the sport, Tyler?
We talked about it the other day that came out.
I don't know if you remember and said this isn't going to flush.
Swimming was a swimming.
Swimming.
Right.
Okay.
So swimming came out, which is, you know, antithetical to what's going on in soccer.
Finna.
But right.
I love that picture with the guy with the sweat with the lady.
Totally ridiculous.
Right.
And also.
Six foot six against a five foot six.
And this is this is this went from conversation.
I talk about this on my show a lot because this went from a conversation about acceptance of like live the life you want, do what you want to do.
You're an adult.
You're not hurting anyone else.
You're not asking anyone else to pay for whatever you're doing.
Great.
We can support what you do what you want to do.
To now, if you don't endorse this absolute psychosis that's going on, look at the images here.
Look at this.
Look at that.
He's huge.
It's huge.
No, no, she's huge.
She's huge.
It's not a she.
It's a grown man.
He has still has his testicles and he has his male parts.
Bro, that's, come on, man.
That's cheating.
But just look at the framework.
These women are clearly 5'2.
This guy's 6'5.
Yeah, he's a swimmer body.
And you're supposed to say there's no advantage.
You know, they came out.
A lot of the swimmers, the trans swimmers came out and said, Oh, we don't have an advantage.
You don't have an advantage?
Come on.
We all have eyes and ears.
You weren't born yesterday.
So what happens to all the girls, the actual women here?
Is women's sports going to cease to exist now?
Think about it.
Will it just be men's sports and trans sports?
What's going to happen here?
I'm serious.
It's a serious question.
I honestly think, and we talked about this earlier before I walked in, there should be a league, just a trans league, where you call it like dicks.
I don't just put every listen, whatever you're confused, whatever.
You guys play over here, leave these little, like, dude, this 13-year-old girl, you realize she's going to be like, her father's going to have to sit her down and go, listen, honey, you lost to a man.
Girl, a pair, literally.
Like, you're going to have to get some testosterone in you.
And because, like, it's, dude, it's cheating.
I don't care what you say.
And you made a good point.
Nothing against that community.
Good.
I feel go do your thing.
But when it comes to sports, you're messing up people's lives.
That little girl's, that's her money.
Yeah, you don't get to deprive, you get to do what you want with your own life, but you don't get to deprive somebody else of something based on a new set of rules that you've now demanded that we all endorse.
That's not how it works.
Let me tell you why this skateboarding thing is and probably won't get as much tabloid time as this for whatever reason.
These people are at least the same age.
Whether they're, you know, whatever private parts they got going on, they're all in college.
Okay.
You're 18 to 22.
I get it.
You're talking about a 29-year-old person versus a 13-year-old girl.
Yep.
Yeah.
You're talking about problematic.
In other language, a grown-ass man and a young girl.
Yes.
That's exactly right.
So, Pat, I mean, but you guys have kids.
What do you tell your 13-year-old?
I'm being dead serious because I was trying to be funny.
What do you tell your 13-year-old daughter who just beat up a big ass field of people her age, a 30-year-old dude, a 30-year-old veteran that wants to just be cute and pretty and fucking skateboard?
Honestly, what do you two when your kid gets very simple?
What do you call that kid?
It's very simple for me.
One, I go speak to whoever organized it.
Okay.
And I try to use my voice to create change.
That's number one.
And I'm going to go recruit other people to also say, Do you feel the same way?
We need to have a meeting.
This is not acceptable.
If these parents are not happy about it, I'm not alone.
We got more than 50, 60%.
I think you have to listen to what we have to say.
Beautiful.
Then, if they say no, then I have to look at other places where they can compete fairly, and I will go look at it.
I'm not a helpless person.
I will find solutions, and I'll go to a different place.
It's okay.
So, now, imagine now when you're putting your kids in a competition, you have to ask the question, just out of curiosity, such and such area when they compete, they accept transgender competitors, and they don't just go based on what the biological situation is.
What's your protocols?
Oh, no, we don't accept that.
Okay, that's great to know.
Then, I would like my kids to fairly compete here.
And if they lose, they lose.
If they win, they win.
No problem.
And then, if at that point you're not happy because nobody around you has the set of values and principles that you do, then you have to make a real serious decision with your husband and your wife and say, we have to move to a different place that matches our values and principles.
It's that simple for me.
It's not that complicated.
What would you tell your kid that?
I'm going to have a conversation with the kid.
And say, listen, I'm just.
Oh, we already have those conversations because that conversation is being had right now as we speak.
And I'm straight up.
I explain to them how science works.
I explain to them how the values of parents and mothers and fathers play, environment, values, principles, confusion.
It's very easy to get confused.
And, you know, that's the conversation.
It's a form of a bullying.
And in our family, we don't support bullying.
So we don't support bullying.
We stand up.
But I think the approach is more from the standpoint of, you know, when people were like, I'm not against Rovi.
I can't believe what you're doing.
Dude, if you're so much for it, try to make change in the state you're in.
If you can't, move to another state.
I agree.
What are you upset about?
I didn't like California's policies when it came down to supporting small business owners.
I try to see if I can do anything about it.
I may change.
I moved to Texas and I moved to another state.
Do we have somebody on here with us?
Is she ready or no?
If you want to.
Okay, fantastic.
Let's get right into it.
So next story that we have is a story of, let me first introduce to you who we have here with us, Seppi Schein.
Am I saying it correctly, Seppi?
I can't hear you guys.
Can we make sure we can hear Seppi before?
Because I think Seppi unmuted herself.
Maybe it's on our end.
Eric, again, can we Seppi, I'm assuming you're unmuted on the Zoom on your end, right?
Okay, so what you need to do, she's speaking.
I'm sure she's unmuted.
If you go on your Zoom thing that you have, go to the audio to the right of mute.
Yep, try it now.
Eric, if you can come, can you hear me now?
Yeah, we have it unmuted over here.
All right, try it.
Have it unmuted on your end.
Try it now.
Can you, Seppi, can you say a few words just to kind of hear?
No, I can't hear her.
I'd love to hear because of the story going on in West Hollywood.
So it could be one of those things.
We are unmuted.
Everything should be good.
Eric, can you come in?
Can you hear me now?
Oh, yeah, we can hear you now.
Fantastic.
So, Seppi, I have the intro here for you.
Mayor Pro Temp of West Hollywood, West Hollywood Council Member behind the defund the police movement that you have, I believe a story came out, which I think Rob reached out to you.
And I'll read the story to you, and then I'll let you comment on it.
And we'll have some banter here.
Upscale West Hollywood votes to defund sheriff department, even as crimes source to 137%, while savings will be used to fund 30 unarmed security ambassadors and a Russian arts festival.
Now, keep in mind, this is an article I'm reading.
So forgive me if you don't agree with the article.
Let me just finish the article here.
Here we go.
West Hollywood City Council has voted to defund their sheriff's department despite crime rocketing 137%.
The proposal passed by a narrow 3 to 2 vote will see the current force of around 60 sheriff deputies reduced by 4.
Funds saved by reducing the headcount will be used to pay for unarmed security ambassadors under a scheme called Block by Block.
Despite slashing the police policing budget, the council agreed to stump up funds for Russian Arts Festival, increasing their contribution from $14,000 to $50,000.
And then Lauren Mester, I believe, if I'm pronouncing it correctly, Democratic mayor of West Hollywood and a member of the council who voted against the plan called it illogical, noting that the Los Angeles enclave is afflicted by rising tide of violence.
So, having said that, Seppi, if I'm not mistaken, you were the leader in causing this change, yes, if I'm not mistaken.
So, here's the thing: I made the motion, and there's a lot of misinformation out there about what we did.
What we actually did Monday night was go through and approve our entire budget.
What we did with regard to our community safety department, which has nothing to do with the Russian Arts Festival, that's a completely different budget line item.
We actually increased our public safety department budget as a whole.
We reallocated funding within the department and increased public safety funds.
This whole wording about, oh, they're defunding the police.
This is actually not what the defund the police movement was supposed to be.
Defunding the police movement was about slashing officers and putting that money into social services.
What we did do is, on a different budget item, increase social services by a million dollars, but it had nothing to do with this.
We have a proven program called Block by Block Security Ambassadors, which by the way, the mayor herself brought forward two items to increase their presence on our east side, which was having a lot of crime in commercial corridors earlier this year.
And that proved really successful.
And then, throughout the commercial corridors in this same budget, we increased six kiosks for our businesses and 36 full-time block-by-block ambassadors.
So, it's really disappointing that she supports this program for businesses.
But when it comes to residents who want foot patrols, she thinks it's not successful.
And that's just a rhetoric she's using to get re-elected, frankly.
Seppi, excuse me, the fact is, Seppi, excuse me, Jedediah here.
I just had a question for you.
You know, because the original Defund the Police movement, the motivation was actually to reallocate money, but it was to remove money from police and move it into other aspects.
Oftentimes, people suggested social workers, other options that were not.
So, what I'm trying to get to the bottom of here, I don't know what a block-by-block ambassador is here, but ultimately, you have a problem in this area of California with crime.
I think we can all acknowledge that.
So, is there going to be money, A, that leaves the Sheriff's Department that is going to cause less police officers to be available to be on the street?
And if so, what is the alternative to that?
Are you going to advocate for Second Amendment rights for citizens?
What is the alternative?
Because safety has to come from somewhere.
And if you can't call the police, what do you do?
Sure.
So, here's the thing: our residents have wanted us to have foot patrols in neighborhoods.
And the deputies in the sheriff's department, their pay has increased substantially over the past 10 years, almost doubled.
Is the foot patrol?
Not to interrupt, are the foot patrols armed?
Are those people going to be armed as police officers would be?
No, they are not armed.
Okay, so what happens?
There are block-by-block security ambassadors that have proved successful to deter crime.
Are they on?
Are the security ambassadors armed?
No.
They are armed with the gun.
No one is armed.
Okay, so I have a question for you, though, because criminals are armed.
Criminals are most of the time armed with something.
So if a criminal has a gun, we know criminals don't obey laws.
They get a gun, they get a hold of a gun, they set out to cause crime, to rob, assault, whatever it may be, and they're not confronted with someone who is armed.
What is that person going to do?
Get shot?
What happens there?
How are you envisioning that conversation?
Because to me, it seems that someone who's trained, someone who has passed their background checks, someone who is a citizen who is armed, or someone who is a police officer would be the best person for that criminal to meet on the street, not someone who's going to try to talk them out of committing a crime.
I'm genuinely curious of your thoughts.
Yeah, sure.
Here's the thing.
We have trained our block-by-block ambassadors, and crime doesn't just happen in an isolated place in the city of West Hollywood.
It happens all over.
And we have proven that these block-by-block ambassadors actually deter criminals.
We literally have proof of that.
And right now, they have not been under harm doing their job.
They've been doing a fantastic job.
But the crime rate in California.
Look at the crime rate in the area, right?
So by the way, if they're doing a great job, why does the crime rate look like it does?
The 137%, by the way, is also factually untrue.
That was a point in time.
And literally, the problem with percentages is you're looking at something if there was one robbery and then it became two over six months, that's 100% increase.
The fact is, if you looked at all the numbers and all the stats of crimes, and the 2019 numbers were actually higher than 2021.
Of course, 2020 was low because crime fell because people mostly were locked into their homes.
So these percentages really create more fear and they're actually not based on what the truth is.
And so the block-by-block security ambassador works in our commercial corridors and it's going to work in our residential.
And we're doing this in a very pragmatic, slow way.
We're going to be decreasing two deputies in 90 days.
And we actually added one extra deputy.
So the net total in 90 days will actually be one.
We've had issues in our nightlife district at night.
So we're adding one entertainment policing deputy.
And then nine months from now, we're going to re-evaluate the program.
Can I ask you a question?
With respect.
Sure.
Let me finish.
We're going to see what the crime stats are in nine months.
And in nine months, if the program is successful, we may reduce three more deputies.
And this is 60 deputies versus then 56 in total, potentially.
Seppi, can I a legitimate question?
Because I come from New York City, which struggles with crime as of late.
It's one of the reasons I moved was because I have a two and a half year old and I couldn't justify living in a city where the truly the police force didn't feel supported.
And also Second Amendment rights aren't exactly upheld for individuals in New York City.
How do you feel?
What do you say to someone like me?
I'm a young woman.
I'm pretty small in size and stature.
I like the idea of a police force that feels supported.
And I like the idea of a strong Second Amendment because I know that if I'm met on a street corner by someone who wants to do harm to me or my child, I want someone, I want the good guy with the gun, be it a police officer or myself, to be able to counter that person.
What do you say to someone who hears this and hears about ambassadors and social workers and just doesn't feel confident and comfortable living in a city where that is the alternative and the antithesis that's presented to a criminal walking around with a gun who seeks to do harm?
What do you say to me?
First of all, what I say to you is I understand your fear.
I understand your fear.
And honestly, as a woman, I myself have had fears walking streets.
And what I will also say is looking at the actual crime stats, they're not as high as the media is making them seen and spinning them.
But it's not just a media game, Seth, because I've been in Weho and I've been in New York City.
It's real, it's tangible.
It's on the ground.
So I mean, do you support the Second Amendment?
Are you a Second Amendment advocate?
If someone wanted to go and follow the proper protocol and they said, this is my city, they're decreasing the police force.
This is my opportunity to step in and defend myself and my family.
Would you support that?
Defend yourself and your family in what way?
Yeah.
Say I wanted to get a gun.
Say I wanted to follow protocol and I said there's less police on the streets.
I don't trust that.
I don't want to pick up my phone and know that resources have been cut and maybe there's a five-minute delay on when that police officer arrives because there's less of them.
This is a decision being made, say, in California.
So I want to go and I want to get a gun to protect myself and my family, follow proper protocol, pass that, you know, the checks.
Do you support that?
Listen, we now live in a different America with people being able to now carry concealed weapons.
California has not analyzed what our laws are with respect to.
What I support is if someone under the law needs to defend themselves, then they can defend themselves.
And what I would say to you, just to finish up on that, is we have tested this program.
Our residents have wanted foot patrols in our residential streets, and we are giving them 30 booths on the ground.
And we're doing it in a pragmatic way, which brings public safety, but also slowly phases out literally, actually the total of one deputy in 90 days.
That is something that will give more public safety to people.
And we're going to monitor the program and see what happens in nine months.
Those people, those people better be prepared, in my opinion, to do some combat.
I mean, if you're telling me those people go and train to be, I mean, you're talking about boots on the ground.
They better, I mean, are they kickboxing experts?
Because people who intend to farm criminals.
They're already on the ground.
They are already on the ground.
So we now have to go.
That's what I'm saying.
Look at the crime.
They're already all over the city in the commercial areas, which actually have a higher amount of crime than everywhere else.
So they've already been tested and they've been successful.
I've actually said it is Vincent Lejean here.
I actually witnessed this firsthand.
I was working, doing stand-up, auditioning, doing all my stuff, working security in North Hollywood on Magnolia and Lancashire, which is all little restaurants and little diners.
And it's popping coffee shops and all that stuff.
And there was always, I want to say three or four, because I was working security.
The safety ambassadors that you were speaking of, they were the yellow shirts and no gun and they patrol.
I personally didn't see any less crime.
I mean, the fighting and everything was still happening.
The only thing that they were responding to from where I was at was the homeless situation.
Like when homeless people were starting to fight or argue or they were doing drugs, they were called and there was instances where we needed the cops called.
That's all that they were doing was calling the cops for us, which we could have done ourselves.
There was a guy that had a knife and I was like, oh my God, the safety ambassador does not get involved.
They just called 911 and I was like, I could have done exactly what you just did.
So I'd be interested to see if the numbers do change because at the end of the day, the cop was called.
And if we're getting less cops and they're not getting motivated to come help, I don't see how that would help the crime rate.
I'm really curious.
We're in a partnership with the Sheriff's Department.
We're not getting rid of them.
We're actually also, by the way, looking at a feasibility study to create our own municipal police department too.
What is the motivation?
If you don't mind me asking, what is the motivation to cut?
You know, you emphasized, oh, it's only one officer.
What is the motivation behind the cut overall?
Why do you want to make that cut?
Sure, fiscal responsibility, because we had to pass a budget and one sheriff's deputy equals 4.6 block-by-block ambassadors.
So it is balancing a budget and reallocating the funding to another department that's an alternative.
It is something new.
And I understand the fear people have when people try new things.
And this is a new alternative that is actually not new in our city.
And by the way, regarding North Hollywood, I don't know about North Hollywood.
We're a city of West Hollywood and our block by block program has worked.
Yeah, I mean, I agree with you on fiscal responsibility.
You and I can agree on that point.
I'm a fiscal responsibility girl.
I'm somebody who, you know, you should line item, look at that budget, see what cut what you can.
But I'm just going to say to you that it's not realistic, in my opinion, to, if you're going to go for fiscal responsibility, the last area you should be looking at in a place that does have exponentially high crime is cutting the police force.
It seems to me that there must be some political motivation involved here.
There was political motivation involved in the defund the police movement at large.
And I'm just going to put a warning out there that if you throw out, I don't care if it's a social worker, I don't care who it is, if they're unarmed and they're just going to seek to keep the peace.
It's an admirable goal.
It's an admirable gesture.
But if they are faced with people who intend to do harm, who are armed, that's going to be a problem.
And there are going to be families, moms, dads that are going to take one look around at that and they're going to say, I need to take this job onto myself if there's not going to be an active police officer to do what they can and should be doing in this space.
So I would not be surprised if you see people going and get registering for their gun licenses and seeing news stories like this in places like Weho or wherever it may be in New York City.
I've seen it happen in New York City already.
And you see citizens feeling like they need to now do the job that police officers should be doing because they are concerned that a defund the police movement isn't prioritizing safety.
That's just my opinion.
We are limited to time.
You got one minute.
I just want to throw out an idea.
Hopefully CEPI's open to it.
Our friend Vince right here, he just moved here from LA, California.
The next time you're there, are you willing to go along with the yellow shirt 100% crew, the 30 of them, and just see what's going on?
Let's do some tangible.
Are you able to do that, Seppi?
Seppi, I'm done.
Let her answer.
Is he able to do that?
I am happy to connect you with our block by block manager the next day.
And is there any way we can go find a good Gordon Zevsi place anywhere?
And the what? Gourmet.
For Miss Africa, listen, I wish there was a Persian restaurant in the city.
The only one is Rafael Shaw.
Please come to Reggie.
There's one right outside.
And there's plenty all around.
We'd have to go to Rafi.
We'd have to go to Rafi.
Appreciate you for coming out and taking the questions.
We respect that a lot.
And we look forward to following up with you.
Folks of West Hollywood are watching this.
If it works, my suggestion is tell the world about it on Twitter.
And if it doesn't work, I also suggest tell the world about it on Twitter and YouTube so we can all see if this is something other cities should consider as well.
Seppi, have a great day.
Thank you again for coming on.
Thank you, Zeppi.
Thanks, everyone.
Fantastic.
Okay.
All right.
By the way, for me, again, the fact that she said yes to be on, last second, good for her.
Come and give your argument.
You're faced off with a respectful Jedediah who will push, but you'll respect.
And then the audience can make a decision for themselves.
That to me is what a great exchange is and you decide.
And Juday admitted on camera that she is a fiscal conservative.
I am a fiscal actor.
I appreciate that.
Just not in my own household from your end, from your end, from your end.
Yes, sir.
Do you think that'll work?
There's so much minutia right there.
I like the fact that she said in nine months, we're going to revisit this.
She did not seem crazy, lunatic, fringe.
As a person, I don't know about her policies.
She seemed actually pretty reasonable.
I don't get involved in West Hollywood politics.
That's not my thing.
But let's see what happens.
You're absolutely right.
If it works, tell the world about it.
But if it doesn't work, you also deserve the right to tell the world about it.
And then we'll see what happened there.
Okay.
All right.
Sounds good.
Gang.
Today we had a good time.
A couple things I want to tell you guys.
Let me give a couple shout out to some folks here today who were on the podcast.
One, Scott Rodriguez, we already did.
Two, we had Gil Mann, Mammon, who said, I'm a Long Island Jew.
I work in the city.
Anyone who has the means and isn't tied down is moving to Florida.
Bloomberg once said, Bloomberg once said, living in New York is a luxury.
What a statement to make.
Living in New York is a luxury.
You have to be able to afford it.
Mr. Barefoot Blue Jean, what a name, gave 20 bucks and said, please get Pierre Polivier, the next leader of the Conservative Party and the next PM of Canada on the show.
We've invited him, but if you have contacts, let him know.
We'd love to have him on.
Victor, thank you.
Dr. Saint gave $100 and said, also watch Too Big to Fail, great show.
Pat, tell me you went to Airborne School.
If not, I guess we can't be perfect.
LOL, thank you for your service, brother.
Thank you for yours as well.
I went aerosol, not airborne.
Jonathan Fuentes gave $10 and I said, I'm 30 years old, married with a one-year-old.
We make $150 a year in California Bay Area with the recession starting tomorrow.
What must we do right?
Make more money is what you got it.
Then we had a bunch of guys that became insiders.
Alex, I will see you at SLS.
Dr. Saint, congratulations, 24%.
Bitcoin, oh, you got something about Bitcoin.
We didn't even get into Bitcoin.
Maybe we will next time.
And a bunch of folks became members today.
Let me give a quick shout out to the new members we got here.
Matthew, Chris, Crypto Trends 101, Scott Rodriguez upgraded to Insider.
Alan Hopkins, Leo Connell, Andre Pascu, John Butler, Kevin Nordcutt, ANA, Eddie Gomez, Michael Peterson, and M1.
Welcome to the membership on the podcast.
Also, a quick shout-out to the couple that just got proposed.
They're about to get married.
I believe his name is Matt, but I do know his fiancé's name is Rachel Finelli.
Shout out to you guys.
Enjoy the photo shoot and wishing you guys nothing but the very best.
Folks, happy 4th of July.
Don't miss Jedediah's podcast.
Don't miss Valutainment Comedy.
Subscribe to Valutainment Comedy.
We have a bunch of stuff coming out, guys.
Please.
Studio yesterday with the Italian news.
If you haven't seen it, I got so many text messages.
