Tom Ellsworth & Vincent Oshana | PBD Podcast | Ep. 168
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PBD Podcast Episode 168. In this episode, Patrick Bet-David is joined by Tom Ellsworth, 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
7:56 - We are in a recession
18:15 - Dave Ramsey saying real estate will not take a hit
27:27 - Historical mortgage rates
32:52 - What we should do to save the economy
39:37 - Fifty percent of Americans are living paycheck to paycheck
50:52 - Joe Rogan claiming Ron Desantis would be a good president
1:04:38 - CNN claims eight white economists say US is in a recession
1:14:07 - Mark Zukersbergs are destaffing because of potential economic downturn
1:33:16 - MSNBC replacing Rachel Maddow with Alex Wagner.
1:44:20 - Whether you should live in Florida or California
I go, so it's your version of the water bottle flip, right?
No, it didn't work yet.
Okay, Vinny Oshana, Tom Ellsworth, 168.
A lot to cover with you.
Hope you had a good fourth.
I know yesterday, shout out to Mario.
Mario brought, I don't even know where he got this from.
Because you know, in the community, when an Iranian moves in and 4th of July shows up, neighbors worry a little bit because they don't know what kind of fireworks you're going to do.
So when an Iranian comes up and says, I got some fireworks I'm going to do this weekend, everybody leaves the community.
That's right.
They just say this is probably not a good idea.
But last night, what Mario did was, did you see that stuff last?
I don't know if you saw it.
Insane.
Including the one where the box fell over and it blew and it almost hit Mario.
Oh, really?
So Tikran did one of them.
It just blew up.
Right there.
Bam.
Everybody.
But anyways, hope you guys had a good 4th of July.
No Jason Pierre Paul incidents over there, losing fingers.
No, no, no.
Close, though, but no Jason Pierre Paul's.
No flying thumbs.
Yeah, no Jason Pierre Paul.
How was New York?
You were in New York.
I freaking love New York.
Tell us about it.
Tell us about it.
I mean, I was just there for three days filming a bunch of content.
How expensive is it to live in New York?
Are you considering leaving New York?
$21 billion worth of wealth has left New York.
Explain why you think that is.
Got all sorts of different answers.
Along with the taxes.
That's true.
And then the food was great.
Little Italy, you know, Chinatown, Katz's Deli.
You got to go check out Katz's Deli, get a pastrami Ruben sandwich.
I used to go to New York every summer, every summer for the last decade.
And I haven't been since the lovely trip to Addison in Dallas, and I haven't been back.
You've never heard of New York to Addison.
Exactly.
So it was good to be back.
I've asked a million people, seeing this.
You've seen this.
I said, before the pandemic, if New York was a 10, right?
Vibrant, hustling, bustling, everything going on.
And then during the pandemic, everything shut down and went to a zero.
Where is it now?
And I've gotten all sorts of answers.
Six, seven, four, three, two, eight.
You know, I would say it's a solid eight right now from the weekend.
Like, it was good.
Things are happening.
Things are going on.
Obviously, during the summer, a lot of people go to the Hamptons, especially on the weekend.
But I got a lot of good answers from New Yorkers.
Anything that stood out.
Give us anything that stood out.
What stood out?
I mean, normalcy.
I think that's like, all right, New York's back to normal again.
There's still people running around with masks on, outdoors.
They're responsible people.
Very, you know, outdoors.
That's kind of, I get it.
Inside, you don't want to, you know, whatever.
One bar.
I've been, went to a bunch of bars, a bunch of restaurants, one bar, one bar asked for a vaccine card before I walked.
Really?
Yeah.
And I gave him like my target card.
I was like, he's like, I don't think they even looked.
I think they're just looking for anything.
So you had a good time.
I had a great time in New York.
Well, it sounds good.
Let's talk about it.
There's a ton.
I'm waiting for some kind of very overt out there pride situation going on.
Cool.
I'm all for gay pride.
Great.
But very overt.
Very overtime.
Were they convincing when they spoke to you?
No, I was focusing on the ladies.
I kissed two guys.
Whatever.
You had to get in the club somehow.
But it was, you know, very overt.
So that's the pride story.
There's a story there.
Maybe you don't want to see it.
We'll talk about it afterwards.
No, there's nothing going on behind the scenes.
I swear.
I swear.
So, okay.
All right.
So aside from that story that we have here, folks, a couple of things that's going on that I want to talk about.
One, you always know when the market correction is coming, when first luxuries start taking a hit.
Exotic cars, watches, Rolex, restaurants, like exotic, like expensive places.
There's an article we'll cover with that, Tyler.
You may want to look that up.
The other one is companies are actually starting to rescind offers.
Like, hey, here's a job offer.
$120 a year with a $20,000 bonus with benefits and all this other stuff.
You start the 17th.
Awesome.
Let me put a two-week notice in.
A week later, listen, we're going to have to rescind that job offer we gave to you.
We're going a different direction.
Many, many companies are doing that today.
Zuckerberg called that many of his employees, prepared that article as well with what Zuckerberg said.
He says, many of you guys probably don't deserve to work here, and you're probably not good enough to work here.
Did you hear that part with Zuck?
So very offensive, but let's put that up there to talk about that.
SP 500 falls to start to start the month after a brutal first half of the year.
White House sparks backlash after saying high gas prices, guard, liberal world order.
Maybe Adam's got some thoughts on that.
California to get up to 1,050 inflation relief through Newsom's budget deal.
FYI do not be surprised.
It looks like, Tom has some comments on this.
It looks like Newsom may be being put together to be the 2024 Democratic nominee.
You said that the couple months ago, we talked about that, but he may be poison, like he's looking like he's going to be their guy and replacing Biden.
Peter Schiff, what's the story?
Peter Schiff trying to say Puerto Rico, bank under probe.
Okay, we'll cover that story July 1st.
That's right.
That's the one I sent to you.
We'll cover that as well.
Quarter Americans saying they are ready to take up arms against the government.
Paul also finds the more than a third of those currently own guns.
Joe Rogan claims DeSantis will be a good president.
Refers to Biden as dead man as president.
Guatemalan president Kamala Harris is missing in action.
Migration crisis.
We need greater communication.
Percentage of Americans saying the country is heading in the wrong direction spikes to 85%.
We got a few other stories we'll get into as well.
Kevin Durant requesting a trade from the Nets.
Very surprised because what this guy is famous for knowing to do is he'll stay with a team until they win a championship.
He never takes the easy way out.
I'm surprised he's doing this.
It's the first time he's making a decision like that.
Logan Paul, future president, signs a WWE contract, and then Rachel Maddow is being replaced with previously canceled Alex Wagner.
Puzzles insiders, no institutional memory.
And then military branches are having a hard time with their recruiting goals.
So why don't we get right into it, Tom, with the market here?
So S ⁇ P 500 fails to have a good start, after a miserable first half.
Stocks fell Friday after the S ⁇ P 500 closed its worst first half performance in decades as disappointing economic data continue to dampen market sentiment several profit warnings also pressured stocks s p 500 dipped 0.2 percent dow jones industrial lost 105 points 0.3 percent nasdaq lost 0.2 percent all Of major averages were on pace for their fourth down week in five.
The moves after several companies lowered their profit guidance, adding to investor concerns that persistent inflation had decades, long highs could continue to put pressure on share prices, consensus.
Estimates for 2022-2023 remains largely unchanged from the start of the year, even though stock prices have declined considerably since then.
Weak guidance could finally force cut to consensus earnings estimates, which would likely add further downward pressure on stocks, says Greg Marcus, manager and director of UBS private wealth management.
Tom, what is really going on with the market right now?
Well, what's really going on is from the White House to the Treasury to the lead analysts on Wall Street, nobody wants to walk across the line and say it's really happening and it's really here.
Consensus estimates from the beginning of the year are unchanged, Pat.
You just read it.
Yet, all the market indicators we can look at every day from stock prices, commodities, everything else is down.
Why are they not revising it?
Because no one wants to walk across the line and be the first guy to say, officially, we are in a deep bear market, not just a bear correction, but a deep bear market.
Number one, and number two, the White House, even though we are officially, as of July 1st, statistically in a recession, nobody wants to make that the lead stories.
And so the White House and Treasury have friends on Wall Street and they don't want, with midterms and everything coming up, they don't want people to feed into the recession and bull market story.
And so that's why these analysts are sitting there and sitting on the news when reality, we are in a bear market, we're in a recession, but they're all afraid to be the first credible voice to come across the line and say, man, it's real and it's here.
Because guess what happens?
Someone has to do something about it, and that is the White House.
And raising interest rates is the tool, and nobody wants that.
So everyone is scared to fall across this.
This is unsurprising to me, but it underlines just how bad the situation is for the economy right now.
So, so you know how, you know, how, Adam, do you have any comments on that?
On what the look, I just came back from New York.
I definitely went to Wall Street.
I mean, it was in the weekend, so you didn't really see the NYSE and everything that's going on during the week during the hoopla.
But I walked by the raging bull, right?
You know, the bull, the bull of Wall Street.
And the defiant little girl.
The defiant girl saw her too.
And it, and I, and I remember a quote that I heard about markets.
And Tom, you might want to weigh in this.
And it says that bull markets will make you money, but bear markets can make you rich.
So if we are entering a bear market or if we're already there, okay, let's use that to our advantage, right?
So when everything's going up and up and up, all right, everyone's making money.
But if you position yourself correctly and you understand what's coming and you are prepared, then you have the opportunity to make a lot of money.
Pat, you went off on you're about to see a lot of people worth 100 grand be worth a million.
You're allowed to see someone who's worth a million add another zero, $10 million.
Do you have your word time?
You're like, this is the time if you prepare yourself.
And Warren Buffett was just quoted by Elon Musk, his strategy, the PPP strategy, which is predict, prepare, and persevere.
There we go.
And shout out to valutainment.com for writing that article.
So, but here's my question, guys.
So, like, somebody like me that doesn't really know about stocks and whatever you guys say, I mean, I'm trying to soak it in.
But what do you tell the average person that's not involved and doesn't know about what you're talking about?
Getting in.
They're fucking struggling right now.
Shit is bad.
And like, what do we just tell them?
Hey, listen, the White House is basically just saying, hey, suck it up.
They even said this.
It's a new liberal world order.
Suck all this shit up.
Gas prices, everything.
We're going somewhere else.
Like the whole going green shit.
They took out all the white once Biden got in.
No drilling, no oil, no nothing.
It's like, hey, deal with it.
You're asking what the regular guy kills.
What's the regular guy?
Number one, and number two, do you think if Trump, and I'm going right back to politics, if Trump was in, because my cousin was like, what would have Trump done different?
What do you think if Trump was in, Pat?
I want to ask all you guys, would it still be happening right now?
What's happening right now?
First of all, first of all, did you guys see a Griner open letter?
Did you guys see a Griner open letter yesterday?
You know who I'm talking about or no?
Britney Griner wrote the open letter.
Can you pull this up?
Brittany Griner writes an open letter to who?
Joe Biden.
You guys realize she's been out there for months.
Okay.
So, Brittany, if you're listening to this in Russia and you want to know who to really write the open letter to, write it to Trump.
He'll probably get you out.
Can you imagine?
She says, I'm terrified.
I might be here forever.
And Biden, what has he done?
What has Kamala done?
I'm sorry, Kamala.
Aren't you supposed to be a gamer here?
Aren't you supposed to get up there and make a video and say something about to get her out?
How is she stuck there this entire time?
Do you guys remember when Jorge Ramos, who hates Trump, do you remember where Jorge Ramos was stuck?
Where was Ramos stuck?
Do you guys remember when Ramos had an issue?
You guys don't remember this?
No, I remember.
Tyler, do you remember this with Ramos?
You're talking about Universion Jorge Ramos?
Jorge Ramos.
Where was he?
In Cuba.
He was stuck.
I'll tell you right now.
I'll pull it up right now exactly what it was.
He got sick, right?
He got sick and then he had.
So he had something going on that he comes out and then Trump comes out of nowhere and defends this guy.
So you got a grinder here who is asking, hey, that's it.
Venezuela.
Venezuelan government detained him.
And him and Trump bump heads all the time.
Oh, he can't stand Trump.
He hates him.
Who bails him out?
Trump.
And guess who he thinks?
Trump.
He thinks Trump.
Shout out to him.
So, Griner, if you're listening to this, I can't stand the fact that you're stuck there.
I can't stand the fact that you're stuck there.
The current administration's campaign was to protect people like yourself.
Okay.
You were the person they were supposed to protect and go after to make sure nobody messes with you.
You're stuck in Russia.
Biden hasn't made one phone call to say you better release them or else I'm going to put more funds and strength in Ukraine.
There is zero help going on here.
Okay.
Zero.
So here's the thing, the comment you just made.
Yesterday, a guy says to me, I posted a comment about the tweet about, I don't know if you saw the tweet I tweeted about gas prices when Biden's tweet.
Can you go to my Twitter account?
I'll just read you what I said.
When he says, yeah, when he says, so one guy commented, I want to tell you what this guy commented.
Biden says something about in a very demanding voice, which, by the way, I don't understand why you read, write it like that.
In a demanding voice, he says, did you pull it up or it's not letting you?
Okay, I'll just read it to you here, buddy.
It's okay.
We don't have to stress out about it.
My message to the companies running gas stations.
You ready?
And setting prices at the pump is simple.
This is a time of war and global peril.
Bring down the price you are charging at the pump to reflect the cost you're paying for the product.
And do it now.
Okay, and this is my response.
And by the way, Bezos responded first, and he gave an epic message.
This is the guy he supported.
Correct.
And now he's having buyers' remorse.
Okay.
The White House needs to knock this off.
So I say, I tweet this out and I say, first, you blame Trump, then COVID, then Putin, then oil companies, now gas station owners.
What's next?
Blaming car owners for driving too much?
Then a guy responds back on Instagram and he says the following.
It's very important for you to see how the market is responding to this kind of stuff.
And I want to read this guy's comment and I'll pose my question that I gave to him.
He says, Patrick, we know it's the oil companies raking in record profit profits and the government collects their share through taxes and political contribution.
They're all in on it.
What say you, Patrick B. David?
I don't know if you'd speak like that, but what say you, Patrick?
David?
Sometimes I talk like that.
Here's what I said.
Why were they not taking record profits under Trump?
But they are under Biden.
Why not?
Forget politics for a second and actually answer that question.
And I got a few more for you afterwards.
If they're taking record profits now and Trump is pro-oil, shouldn't they have taken record profits under Trump?
So where does that argument go now?
So wait a minute.
Do you understand what I'm saying here?
So hey, if these oil people are getting rich, why do they get rich under a Biden administration, not under a Trump administration?
WorldStar post something the other day about, and by the way, WorldStar, if you were to guess which side politically WorldStar's audience falls as a left, middle, or right?
Libertarian.
WorldStar?
No.
I would say they're middle, but a lot of them.
They're left.
They're 100% left because a bunch of their videos at PNR are left.
And this guy's a job.
He's a board.
No, he's joking right now.
It's left.
Watch this.
Go to the Instagram post they put when Biden says, Tyler, we can hear you type.
I'm proud to say that America is officially the first country in the world to prove vaccines for six-month-old babies.
Here's what I want you to do.
Go read the response of people on that post.
You know what you'll realize?
More people agree and are on the same page than you think.
Set aside identity politics, left, right, middle, center, whatever bullshit.
95% of us all agree on half the shit that's not working out.
That's the problem today.
People are sitting there and saying, what the hell is this guy saying?
I voted for this guy, but what are you talking about?
What are you putting out there, man?
This is embarrassing.
Take this thing off.
Don't put that up there, man.
But Pat, you think they're saying quiet because they're so loyal and they're not going to fucking admit that they're messing up?
Are you sure?
No, no.
You don't need everybody to be allowed.
You only need 10% of them to not be happy and 10% of them are not staying quiet.
They're sick of it.
They're done with it.
They're like, this is purely games.
I'm freaking sick of it.
When you mess with someone's kids and their pockets, they get upset.
And that's what's happening today.
That's what's happening today.
And by the way, it's better.
Trump helped Aesop Rocket when he was arrested in, what, Sweden?
Remember that too?
He's coming to the call.
He doesn't mess around.
I was on a flight the other day with Kodak Black.
Oh, yeah.
I'm like, is this Kodak Black?
I'm like, yes, Kodak Black.
He's sitting right in front of me.
And just a chill regular guy.
And I made the mistake of calling him Kodak Blue.
Oh, no.
You're like, no, no, it's Kodak on the podcast, not to his face.
Mr. Blue, it's so great to see you.
So when you think about what's going on with the economy and the numbers, by the way, I want to show you guys something with the economy.
So do you guys know this guy named Dave Ramsey?
Have you heard of Dave Ramsey?
Absolutely.
You've never heard of that guy's name.
Very much sensible personal financial planning.
Yes, we'd love to have him on the podcast.
But Dave Ramsey, I think you are wrong.
And let me tell you why.
So Dave Ramsey is saying he doesn't think real estate is going to take a hit.
He thinks real estate is going to be maybe a minor little hit, but not a big hit, which, by the way, he may be right.
However, there's one data point you have to look at, whether real estate is going to take a hit or not, because that's where his argument is.
His argument is, how is real estate going to take a hit if inventory isn't there?
Well, if inventory isn't there, guess who's right?
Dave Ramsey is right.
Why?
Here's why.
Because say I'm a realtor and Adam is looking to buy a million dollar house, okay?
And he specifically wants to buy this house in a community that is close to the school because he wants his cats and his kids to go to a nice private school.
But the challenge is only one, there's only two million dollar homes in the market.
One of them doesn't have a swimming pool.
The other does have a swimming pool.
He wants a swimming pool.
One is four bedroom.
The other one is three bedroom.
He needs four bedrooms.
So I go there and I say, Adam, I don't think we're going to make a million dollar offer here because you're not going to get it.
He says, what do you mean?
I said, if you try to negotiate hard here, you're going to lose because they're going to get 50 offers.
I say we go strong.
What are you talking about?
I say we go with an offer of 1.15.
Pat, it's a million dollar listing.
I say you offer 1.1, 1.15 if you really want this thing.
Because if you don't, it's going to go cash pro cash is going to come in 1.2.
So Adam's now panicking.
And by the way, my argument as a realtor in that situation, guess who's right?
I'm right in that situation.
And Adam sits there and says, what?
Damn, this guy's right.
Why?
Because he goes on Realtor every day and nothing new is popping up.
Yes or no?
When you're looking at houses.
So Adam says, okay, Pat, I'm not going to make an offer of 1.15, but I'll make an offer for what?
$1,085.
Okay.
Great.
He puts the offer for $1,085.
We send it in.
Their realtor comes back saying, we got 47 offers.
The biggest one is 1.11.
This is your last chance.
What do you want to do?
I tell Adam, Adam, if you don't get this, there's probably not going to be anything for another year or two.
Adam comes back and says, let's make that offer 1.16.
He loses at 1.17.
Okay.
Today, if inventory was 50 for the million-dollar house and 30 of them had a swimming pool with four bedrooms, guess what Adam's now doing?
Adam's saying, make an offer of 880.
Make an offer of 90.
I'm not making no million dollar offer.
There's 45 other properties I can look at.
So here's what Dave Ramsey says.
The housing market is not crashing.
Sorry to end your fear porn party, but the sky is really not falling.
It's definitely scary.
And some of the things going on truly do suck, but the sky is not falling.
And the way he's explaining it is the fact that the inventory is not there.
Now, pull up the data I just pulled, sent to you from realtor.com.
This is realtor.com article, okay?
And it shows what's happened.
Go up a little bit and then zoom in.
Go up, go up, go up, go up to the chart and then zoom in.
Zoom in.
Okay, check this out, guys.
Look at this.
Go a little bit out.
Okay, there you go.
Watch this.
So active listing count, the years.
You see the colors, 2017, 18, 19, 20, 21, 22.
22 is at the bottom.
It's the yellow one.
Do you see that?
Okay, so inventory, active listing in January to February, it goes down.
February to March, pretty even.
March to April, about flat.
April to May, boom.
May to June, boom.
18.7% year over year.
This data increasing is the scariest thing for realtors and it's the best thing for buyers.
So if this thing climbs up, Dave Ramsey has to apologize to his fan base for getting this wrong.
And it's going up.
If this thing goes down, we will give Dave Ramsey a shout out for getting it right.
But it's that simple.
Folks, if there's any data you want to watch, pay very, very close attention to this.
You know how you were going to shops and you didn't see any Rolexes for sale?
Plenty of Rolexes for sale right now.
Right now.
Everybody's selling them so they want to buy Rolex.
They're everywhere.
And why they're going to be able to do it?
They're everywhere.
They're selling everything?
People are getting rid of everything?
I mean, listen, Wall Street Journal story came up.
Pull up the Wall Street Journal story about.
Anyways, Tom, I'll turn it over to you.
Give some thoughts on this on what I'm saying.
Yeah, there are three things that are out there driving this right now that are all facts.
And by the way, I love it when you put the charts up there because whenever I go toe-to-toe with liberals, I have a little phrase I like.
Uh-oh, facts.
Here they come.
Well, the first thing you've said is the inventory.
So what's making the inventory?
Dave Ramsey is not liberal whatsoever.
No, no, no.
I'm not talking about Dave Ramsey.
Okay, gotcha.
I'm talking about the facts here.
Gotcha.
So the first element is that right now, those people that partnered, maybe you and me, Adam, we partnered and we were trying to do a couple house flips here in South Florida.
Guess what?
The party's over.
What are we saying to each other right now?
Hey, we don't have deep pockets.
We're not like BlackRock buying up residential real estate everywhere.
Guess what?
We need to get out of this now.
The prices are flattening out.
Interest rates are going up.
We have to get out.
We're putting inventory on.
That's first.
Second, there is unemployment that is starting to happen in key areas.
That inventory is coming on market.
And third, as soon as the prices level, all of the sidelines, this is the biggest group, Pat.
People that were on the sidelines that was thinking of selling a house and maybe moving or retiring, going to a different area, they've been watching the prices go up.
And remember, when prices go up, like stock goes up, I won't sell it today.
Maybe Apple will be $1,700 tomorrow.
I won't sell it at $1,700.
Maybe Apple will be $1,800 tomorrow.
You know, you get talked into the next level agree.
You know what I mean, Pat?
The next 1%.
Those people that were on the sideline are bringing inventory on the market right now because they say the party's over and I'm getting out.
All of that is driving inventory.
And by the way, the normal number one thing that drives inventory is job change.
It's forced inventory.
And that storm hasn't even come ashore yet.
But if you want to do the real estate market like a hurricane map here in Florida, it's coming.
All of this is driving inventory and it has to drive prices down.
So Ramsey and other people that are maybe living in denial and thinking it's not going to happen, not going to be so bad.
It's going to bottom out right here.
No, it's not.
We got another three quarters interest rate two weeks ago, right?
Here come.
Listen.
Interest rates and the layoffs.
We're going to keep feeling it.
Talking fast so I can get it done.
There's two camps here.
Choose your camp.
Choose your camp, folks.
There's the one camp that's saying nothing's wrong.
Everything's going to be all right.
The house prices are not going to drop.
Don't worry about it.
Keep spending your money.
Keep living your lives at the same exact way.
That's one camp.
The other camp is shit's about to hit the fan.
Real estate's going to drop.
Inflation is going to keep going up.
Interest rates are going to go up.
The next 12, 18, 24 months are going to be ugly, but it's going to be fine.
It's not the end of the world.
We'll come out of this in the next two, three, four, five years.
And then everybody goes back to business as usual.
Here's the key about these two different camps.
Whichever camp you choose, you just hope you're part of the right camp in two years.
Okay.
Because if you're part of the wrong camp in two years, you are not going to come out of this thing better than you were prior to this camp.
So to the Dave Ramsey camp, go to the other part about the savings.
These are a couple of things folks have to pay close attention to.
This is a WSJ story.
Americans tap pandemic savings to cope with inflation.
Okay.
What happens when people start tapping into their savings because inflation?
They run out of savings.
And then after they run out of savings, what do they do?
They start selling things that they have.
And when they start selling things that they have, what happens when a seller is selling something and he has to use that thing that he's selling to pay the mortgage next Friday?
And you tell him, I'll wait two weeks.
And he says, no, no, no, but what if we do a deal right now?
No, no, no.
I'll buy it in two weeks.
No, no, right now.
You can screw them.
Listen, not screw them.
It's not screw them.
It's called being irresponsible.
I've been irresponsible where I was forced to sell stuff because I desperately needed money.
And a person that was responsible, guess what?
Credit goes to the person that was responsible.
There's nothing wrong with the guys that, hey, when everybody else was partying, you were saving money.
Then when the time comes like this, this is the time where you get to buy things for sale while everybody else was buying $700 bottles and you were not.
That's just, that's all there is to it.
It works in your 20s.
30s, 40s, when that age starts with four, man, that stuff kind of changes a little bit.
But anyway, so yeah, interest rates.
The other thing I want you to pull up, if you could do me a favor, Tyler, pull up, go to Google and type in history of U.S. interest rates.
History of U.S. interest rates.
Watch this one here, which is freaking very, very interesting.
History of U.S. Let me see, not that one.
There's one that I want you to pull up, which is the main one to pull up.
It's the one I used yesterday.
History of interest rates from 1970 to today.
That's right.
This is where Jimmy Carter looks at the cart and goes, hey, look, I won.
No, Jimmy, actually you didn't.
You're losing money.
When you look at this interest rates, it shows 5.7 today.
And then when you go back on what the rates were like, let me see if I have the article here because this is the one that folks, if you see this article, a look at historical Forbes Advisor.
Let me pull this one up.
Orbs advisor.
I'll send this to you.
And da-da-da-da-da.
How did I remember that 70 or so?
Keep going up.
Keep going up.
Okay, right there.
Zoom in.
That's the one.
That's exactly the one.
Okay.
So zoom in all the way into today.
Zoom in, until it's so close.
Keep going.
Zoom in, That's the most you can go.
Okay, so how scary does that look?
Not that bad.
Right?
If you look at that, what does that story say?
You're like, Pat, I mean, listen, man, what are you guys panicking?
It's only 5.7%.
Okay.
I mean, if you go a little bit back, keep going all the way, like put the thing on it.
No, put the mouse on the, yeah, keep going back.
When's the last time it was 5.7?
Keep going back, back, back, back.
2008 coming down.
Right there.
When is that?
2008 coming down.
Okay, so 2008, 5.7.
All right.
Now, in 2007, when it was 5.7, had we printed the amount of trillions of dollars that we printed now?
No.
But keep going back.
We were printing houses.
6%.
Keep going back.
Keep going back.
7%.
Keep going back.
7%.
8%.
Keep going back.
9%.
Keep going back.
Now zoom in a little bit so everybody sees what happens here.
Okay.
Now go all the way to the top.
And what is that?
18.37%.
And what Jimmy Carter did is not 1-100 at what we're doing right now with the way we're printing money.
So that right there, folks, if you're listening, that's the worst case scenario.
The worst case scenario is 18.37, which I don't think we're going to get to the worst case scenario.
But the best case scenario is somewhere in the middle that we can potentially get to.
That 5.7 could hit 10.
Just telling you, don't be surprised if it goes to 8% to 10%, maybe higher than that for like a month or two.
And then all of a sudden they start printing $3 trillion of money again to solve it.
And it could get nasty.
So Dave Ransse may be right, but there's this thing called data.
And it looks like inventory is going up.
And history of rates, 5.7 right now is still cheap.
And we're probably going to hit 7, 8, 9, 10 sometime in the next 6, 12, 24 months.
You know what's interesting?
I'd like to find out what they did, what the Fed did, what the presidency did during Carter, during the late 80s when Reagan came in, early 80s, what they did to fight inflation.
What did they do to fight these interest rates?
Meaning like right now, you talk about quantitative easing.
They've done all that.
Now they're raising interest rates by three quarters of a percentage.
What did they do then?
And how long did it take to settle down the economy?
This is before my time.
You were probably in your late teens, 20s during this time.
So maybe you remember what they did economically.
Do you remember what they did?
Yeah, I did.
My dad had conversations with me about it.
And there's two things.
And he used to say, he didn't talk about capitalism, but he said, listen, Reagan is going to expand the economy.
And when the economy expands, taxes are created and they naturally, you know, cure a lot of the ills.
They build jobs so the government doesn't have to provide assistance.
They create expansion and taxes for the government so the government doesn't have to raise taxes.
And Reagan came in and made a Reagan tax cut and also drove expansionist policies because he had to whip two things at the same time.
It was Jimmy Carter, and this is one of the great moments in presidential debates.
Jimmy Carter had assailed Gerald Ford in 1976, that election, saying, you know, Mr. Ford, you know, there's a misery index on the American people.
You know, it's 5% interest rates and it's 6% unemployment.
That's a misery index of 11 or 12, whatever it was.
Four years later, Reagan looked at him at the presidential debate and said, Mr. Carter, I'd like to remind you, you invented the misery index and then it was up to 21.
So he says, congratulations.
You've increased the misery index, which you defined.
But it was reducing regulation and businesses, expansionist economic policy, and he cut taxes.
And guess what happened?
People got jobs.
People paid reasonable taxes with those jobs.
The economy expanded.
And you can take a look.
It went down as fast as it went up.
And, you know, back then, there was a guy named David Stockman.
The liberals used to refer to it as voodoo economics, trickle-down theory.
But guess what?
History shows it worked.
Do you remember what made Voodoo economics famous?
In Ferris Bueller's day off, where he's like Bueller, Bueller, but to your point, it came down to simple.
Right.
It was very simple.
I'm going to reduce taxes, let the economy expand, get people to get jobs, and the people with the new jobs pay reasonable taxes, and the whole thing will work.
One of the things you always hear about Reagan was the trickle-down economics.
Trickle-down economics doesn't work.
I mean, I don't have a horse in this race on trickle-down economics, but that was sort of Reagan's thing.
What are your thoughts on that?
I think just go back and take a look at the expansion of GDP, the expansion of the number of jobs, and unemployment went down.
So when people can get a house at a more reasonable interest rate, they're happy.
When they have a job, they're happy.
When they don't pay as much taxes on that paycheck for that job, they're happy.
It seemed to be that it worked pretty well for the economy.
You go back, look at historians, they'll say, well, Reagan didn't do this, didn't do that.
Look, you can pick on any president in a number of ways, and Reagan had his sins.
But he turned this ship around.
By the way, so think about it this way, Adam.
Just think about you sell life settlement, right?
And you sold other products.
The way a comp structure is set up produces the right behavior, right?
So, okay, so what behavior do we want right now?
Let's just say we're the administration.
You're the president.
I'm one of your strategists, and we're sitting here strategizing on how to fix this economy right now.
Whose help do we need to?
Whose help do we need right now?
Whose help do we need?
If you're the president, we're the strategist, the economy's like this right now.
Whose help do we need?
Whose help do we need?
Whose help do you need?
Well, clearly, first and foremost, the Fed, right?
You need their own penalty.
No, he can't do shit.
I mean, he's just an interest rate.
That's fake, right?
Actual economy.
Whose help do we need to actually improve the economy?
Business owners.
Okay.
Firing.
Okay, perfect.
Employment.
So right now, business owners are firing.
Okay.
That's what they're doing.
They're downsizing.
And it's not just one of them.
Many of them are, right?
So if you know that's what they're going through, why do you think business owners are firing?
They're anticipating a recession of some capacity, right?
And they're feeling what's going on with their businesses, right?
Okay.
So for example, I'm talking to this guy that's a mortgage guy, loan officer.
Out of 100 loan officers out there, okay, when they did loans, did most loan officers, what percentage of the loans they did that they made money on was a refi?
What percentage of the loans that they did the last two, three, four, five years was a new purchase?
For the last two, three, four years when the interest rate's going down.
I'm guessing 75% refi.
Refi.
So guess what?
That business is gone.
Yeah, 100%.
Which means you went from making 100 grand a month to making 25 grand a month.
75.
You understand what I just did right there?
Okay, sounds good.
So if you want business owners, if you need business owners, what can you do for the business owners to not fire these employees?
What can you do with them for the next two years?
What can you do with the business owners?
With the business owners that are about to fire right now, you're like, okay, guys, hold off.
What can you do to get business owners the next two years to not fire those people?
Tax incentives?
Tax incentives for the next two years.
Tax incentives for the next two years.
Remember, like, you know, the structure is a plus-minus.
If in the next such and such timeframe, you hire five more people, we're going to give you the five more people you hire out of 50% of the whatever salary give them.
We'll give you that as a tax incentive.
So, if I'm going to hire five people and each of them going to be 50 grand, that's what?
250?
If you said 50% incentive of taxes for the next two years, 125, now I'm hiring those five people because we're sharing that together.
So, the business owner now sees you as trying to work with them.
And the business owner now has an incentive to not fire those people.
But the way you're doing it right now, the business owner is cornered to say, What do you want me to do?
I have to make the tough choice.
And that's well within the business owner's race.
And by the way, so who wins there?
Think about who wins there.
Nobody.
In that situation, if we keep those five people and we don't fire them, who wins?
Well, the employees, who else wins?
The business, hopefully.
Who else wins?
The tax pool?
Who else wins?
Everybody.
The president wins.
The states win because even you now don't have the havoc of everyday people turning down, seeing this data.
So that kind of a decision-making process gets people to say, listen, we're giving the business owners more tax incentives.
Do we want to do that?
Yeah, but these guys are keeping these people as a job.
That's a good point.
And if these people are getting jobs, we don't have crime going up because if people don't make money, they steal and they're doing more dumb things of taking out guns and desperation and theft.
You know what?
If we do this, this could actually bring crime down and maybe we see fewer of these horror stories we hear.
Yeah, let's kind of work with the small business owners because we need them.
Okay.
That's how you like when they did the PPP loan, that was just handing out money.
I don't agree with the PPP.
It was a mess.
It was a mess.
No, this is about, hey, you're willing to do this.
I'm willing to give you this.
When you just said PPP, that's exactly what I was thinking about.
What happened over the past few years where they're just incentivizing people to keep that?
States financial business.
Remember one thing about the payroll incentives?
Remember, the tax incentives is the federal government, say us, us, we, the people, helping the individual states on an individual basis.
You know why?
The first dollar welfare is at the state level.
The first dollar welfare, your unemployment benefits are usually at the state level.
Well, that means EDD in California, that is where the unemployment benefits in the state of California are coming from.
What's EDD say for Economic Development Department or whatever in Sacramento?
EDD.
And so when you have a business in California, you send your state taxes to EDD.
So if the federal government says, hey, hire those five people and I'm going to cover 125 tax incentives, the federal government does that.
That actually helps California and it helps the individual states.
So we, the people, help the individual states because the first dollar welfare is usually at the state level.
So that's an example of our federal government helping our state government and the great handshake, as it's called, working.
And I think the people, like the average person like me, would I would rather, I mean, it's never going to happen.
They would love to have an administration that's going, hey, guys, we're fucking up.
Buckle down.
It's happening right now.
Instead of just going like this statement right here, bring down the previous.
Let me tell you something.
I don't care.
You keep reverting back to, well, would Trump do something different with Biden?
Would Obama?
It's like, who gives a shit?
Handle your own shit.
I'm not saying you.
There's something called personal responsibility.
There's something called personal finance.
If you're always looking at the president or the Fed or the government to bail you out or be your answer, you're looking in the wrong place.
You need to look in the mirror.
So ask Pat.
I guarantee you Pat made money under Obama.
I guarantee you made money under Trump.
And I guarantee you he's making money under Biden.
Now there are different tax strategies he needs to encounter.
Of course.
Are there different ramifications for decisions he makes?
But at the end of the day, if you're a business owner or you're an entrepreneur, you got to figure it out yourself.
That's my thought.
There's a part of that that's factual.
And then there's the other part that you have to pay more attention to who you elect.
You just have to.
Correct.
You're right.
There's a part of it that you're likely.
You can work for a company and be like, who cares who the CEO at the top is?
Just go sell your policies.
Who cares who the CEO is?
You're right.
But at the same time, if the CEO at the top is the right CEO, he'll be driving better.
He'll be setting the example better.
He'll be coming out with better innovative campaigns.
He'll be thinking about how to make the company better.
That part is also: it takes two to make a thing go right.
It takes two.
One.
It takes two, us together.
We take over the world.
I think there's a part of where both of you are right.
And there's some responsibility in these policies when you're looking at this.
I mean, looking, can you pull up the CNBC article about what's going on with people living paycheck to paycheck?
I'm in the 58% of it.
Yeah, look at that.
I'm in the 58% of it, buddy.
58% of Americans are living paycheck to paycheck after inflation spike.
But this is the most interesting data, including 30% of those earning $250 or higher.
Why do you think?
Now, how is that?
Because of their 30% earning $250 or higher today?
All the shit that they bought, all the stuff that they're paying.
Yeah, man.
Listen.
That's exactly right.
Because America has classically been an aspirational.
There are three levels of luxury guru purchasers: pure cash, any economy, any day.
Who's got money?
Next one is pure cash, good economy.
The next level is aspirationalists who are usually paying for them on payments.
So you got a lot of good realtors down in Miami having heyday, $1,800 a month on a Bentley.
Okay.
Guess what?
That has to go away.
They didn't buy that car.
That car bought them.
Yep, exactly.
And so that's this is exactly what I'm trying to tell you, bro.
I don't care if it's Obama.
I don't care if it's Biden.
I don't care if it's Trump.
You're making a quarter million dollars a year.
It's on you to make the right decisions.
I agree.
You need to know the difference between wants and needs.
You're familiar with the acronym Henry, H-E-N-R-Y.
Henry, high earners, not rich yet.
You're a high earner.
You're making $250,000 a year.
Okay?
Choice is yours, buddy.
Do you want to spend $150,000 and save $100,000?
Or do you want to spend $280 and take on $30,000 in debt?
The choice is yours.
Do you need to drive a Mercedes?
Do you need to live in a three-bedroom, high-rise condo?
So the choice is yours, right?
Know the difference between wants and needs.
Do you feel bad for anyone making a quarter million dollars a year that's paying to paycheck?
No, not at all.
I don't.
Not at all.
Yeah.
Okay.
50% of millennials who make 100 grand or more are living paycheck to paycheck.
I don't feel bad for them.
They want to have a Rolex.
They want to drive a nice car.
I get it.
Exactly.
But it's called lifestyle creep.
The more money you make, the more you feel like, well, I deserve to have a nicer car.
I'm working hard.
I deserve to move into a nicer area.
I deserve to go on vacation to Mikonos this summer.
All my friends are going to Ibiza.
You know, so make the right decision.
And I agree 100%.
But the average American isn't making $250,000 a year.
Average Americans, the voters that are actually getting hit the hardest.
And I feel you.
They're not out there buying Bentley or shit like that.
I'm the average American, bro.
I'm not making that shit.
Let me tell you, and it's fucking hard.
I went and I've interviewed, quote unquote, the average Americans who got stimulus checks.
They were down in South Beach.
When everyone was shut down in 2020, 21, they all got stimulus checks.
I remember I interviewed a girl.
This was crazy.
Yeah.
I interviewed a girl.
I said, hey, did you get your, what was it, $1,400 stimulus check?
What was it?
Yeah, like $1,400.
Okay.
Didn't qualify.
I doubt you qualified either.
I said, what's up?
You got a four.
She goes, nope.
I got $5,600.
I go, oh, I got kids.
I got dependents.
Oh, how much did this trip cost you?
$5,600.
I'm like, well, there you go.
She took her entire stimulus check and she went to South Beach and partied.
She could have put that into a retirement account.
She could have paid off debt.
I don't feel bad for people.
We're not living in some poor country in the middle of Africa.
They're starving with water.
Like, you're in freaking America.
You make 50 grand a year.
Figure it out.
I'm not saying that things aren't tough.
I'm not saying that economic times aren't in parallel.
I'm not saying that.
But we're still in America.
You're not poor.
You're broke.
There's a difference.
Poor is, I live in the middle of Africa.
I make no, I'm living in a hut.
Correct.
Broke is I make 50 grand a year and I can't get ahead.
Maybe you get a roommate.
Maybe you don't drive a Mercedes and you just drive a used car.
Maybe you don't live in a nice, you know, two-bedroom place downtown.
You split like, I don't feel bad for working Americans, meaning like there's options out there.
You're still in America.
Okay.
78% of Americans live paycheck to paycheck.
I've interviewed so many of these people that take their stimulus checks and they go party in South Peace.
Listen, there's different kinds of diets.
Okay.
There's different kinds of diets.
I'll give you a few diets I've gone on.
Okay.
One diet I went on is I was 25 years old, 24, 25 years old, and went to Highland in Hollywood.
Club had just opened up.
This is 18 years ago, 19 years ago, and it was like the place to be.
I went there.
One of my friends, ex was there with another guy, and he goes to say hi to the girl.
The ex comes, pushes him.
We got into a big fight and beer bottles being thrown.
I'm on top of a guy.
It's pretty nasty.
Cops show up.
They arrest.
They have all of us in like, what do you call it?
And I said to the cop, I said, listen, you got to let me go.
I swear, I said, you let me go.
I swear to God, you'll never see me here ever again.
He says, what do you mean?
I said, I have big plans in my life.
You got to let me go.
I'm telling you, I swear to God, you will never see me here ever again.
I don't know why the cop let me go.
I just got the chills.
My fucking bills.
I see.
That's fucking amazing.
My entire body just got chills.
Wow.
I said, I swear to God, you will never see me here ever again.
I never went back again.
Clubs was out of my life.
I've been on a club diet since then.
When I was going and doing this Bible study with this guy in Pasadena, I heard this one guy talk about the fact that go on a sex diet.
And for me, my biggest obsession was women at the time.
That was my biggest distraction.
So guess what I did?
No sex 17 months.
You know how hard that is for a guy that's like his 24 years old.
That's insane.
I give you credit.
So I go.
Now that happens, and I went on a pure, I'm done.
Don't call me.
17 months?
17 months.
You've done the same thing 17 months, but it wasn't like your own decision.
That was no, my pickup line was just shit.
It was horrible.
It's just like, hey, I doubt it.
If you've seen Vinny's pictures, Vinny's one of the most handsome guys you'll see.
Very good looking guy.
Stop.
But the point is, I went on that diet.
Okay.
Next diet.
The diet was I am no longer having the lightweight conversations with people that all they want to do is bitch and complain about life and blaming everybody.
I'm going on a diet.
When friends who were constant complainers, negative, being around other people that blame their bosses, blame everybody, I said, dude, we can't do lunch anymore.
This will be the last time.
That was a third diet.
Then when I wanted to get married and I wanted to live a life of being married with kids, I had a single diet.
Then I said, I can't hang out with single people anymore because your language of a single person is a single person's language.
A single person talks in a different way than a married person does.
If I have aspirations of having a family, I'm going on a singles diet.
It doesn't matter.
No matter where you are right now, whatever your vice is today, if it's video games, if it's women, if it's drugs, if it's alcohol, if it's whatever you got, it's time to go on your diet and not tell nobody about it until two, three years later when you're winning, kicking everyone's ass.
Then you say, here's what I did the last three years.
Because while you're going through it, no one cares.
So he went on a diet, definitely not the 17-month diet, but he went on a diet.
And a diet he went on got him to have a million dollars in cash savings.
Good for him.
But there's a diet you go through with that.
Okay, his diet could have been cars.
His diet could have been different types of things, right?
But people can say whatever they want to say.
The one reality when you're looking at the stat about a quarter million dollar earners, not the 50, look, there's a very simple philosophy that I go by.
Nothing lasts forever.
Let me explain what I mean by that.
If you're winning and you're making, say this is your biggest, you make a million eight, don't assume you're going to make a million eight for the rest of your life.
Facts.
Assume that million eight is really $300,000.
Save $700,000 of it.
Set it aside.
If you're on top of the world and you're the hottest girl and you're attractive, 22, 23 years old, and you're at your peak, let me tell you something.
You are never going to look as good as you do today.
Okay.
If you're the 26-year-old with the abs, the muscles, all this stuff, you're like, oh, look, look, look, look, okay.
You ain't going to look that forever.
Okay.
Eventually, those looks are going to go away.
This doesn't mean I'm in the best shape I've been since I was 24 years old and I feel great, but I'm not, I don't look like I did when I was 21, 22, 23 years old, not even close on what I looked like at that age, and I'm totally fine with it.
Military, top-notch shape.
I'm not in that shape today, right?
So nothing lasts forever.
However, one thing does.
Legacy, history, doing something big that's written about and talked about.
The only way you and I get to live forever is by the legacy we leave behind, with the work that we do professionally, with the kids that we raise, with the relationships that we build, with the companies that we build, with the books that we write, with the articles that we write that make an impact on people's lives.
That's one way where you can live forever.
All this other stuff that people are chasing, one day, they're going to go away.
And you're going to sit there and you're going to realize, what currency was really the most valuable?
What the hell was I doing so obsessed about that thing?
Man, I'm so over it.
I want to go live a big life.
So pick and choose your diet, whichever one it is, then go light it up.
That was awesome because now I sort of got Pat.
First of all, when you said you had goosebumps, that was deja vu to me.
I don't know if that means we had this or this was supposed to happen, another life, whatever.
And then you said pick the diet as you were saying it, and you were saying, don't tell it to nobody.
No, I already have the one that I have, and I hope everybody else that's listening has it.
As you were saying that, I already know the one thing that I have to just say, everything you said was completely sparked.
Spot on.
And it's, it's, look, one of the things I always say when it comes down to money management or whether it's accountability, 50% is knowledge.
All right, I know what I need to do.
I know, you know, what I got to do.
I got to stop eating donuts.
I got to work out.
I got to save money.
The other 50%, though, is behavioral.
Are you actually going to do it?
That's the problem with the complainers out there and with the victim mentality.
Oh, my boss, this.
Oh, my friend.
Oh, why don't they?
It's like, Mother Effort, you have to do it.
Oh, are we having caveat?
Keep going.
I'm listening.
Come on.
But it's easy.
It's a little bit caveat right now.
Like 50% knowledge, 50% behavior.
The hard part is to actually do it, to actually read the books, to actually not have sex for 17 months somehow, to actually save your money.
This is hilarious.
Listen, that's the hard.
Go above your meat, Pat.
More fucking caveat.
Listen, this is a gift.
By Moral and Becky.
Moral and Tico, thank you for this caveat.
It's a gift.
So I appreciate it.
That was fantastic.
Thank you, Mario.
Okay, let's continue.
Let's continue another one.
These are great.
No question about it.
I'll get you.
So let's continue with the next story here.
Joe Rogan.
Let's talk about Joe Rogan.
Joe Rogan claims DeSantis would be a good president, refers to Biden as a dead man president.
Page five.
Let's see what Joe's got to say about this.
During the last episode of Joe Rogan Experience, the host, Joe Rogan, said that the governor DeSantis would work as a good president.
Rogan spoke from a former female UFC fighter and Star Wars, the Mandalorian star Gina Carano for his latest interview.
At one point, the topic of their talk turned to current events and the current president of the office, who Rogan referred to as a dead man president.
Yeah.
So all this stuff is happening while we have a dead man president, Rogan adding as exasperated.
It's not fun.
So even Rogan is a fan of DeSantis.
When we were in Jacksonville, you know who came to see him perform?
So DeSantis came and watched him do his comedy show while you guys were there with us while we were there.
And then when the fight happened in Jacksonville, guess who came to the fight?
DeSantis.
DeSantis.
So DeSantis went to the comedy and he went to the UFC.
And did you hear what Trump said yesterday?
Did you hear what Trump said yesterday about DeSantis?
What did he say?
Watch this one.
Just put Trump DeSantis and go to news.
What Trump said about DeSantis yesterday.
Check this out.
Trump where he says, I actually can see myself being, I think DeSantis would be a great running mate as a VP.
Oh, yeah.
Oh, he said that?
Go to that Trump.
You can't offer to have him join.
Trump doesn't rule out running with DeSantis as his VP.
I get along with him.
Because being negative right now wouldn't work.
Yeah, exactly.
Yeah, what do you think about that comment?
Like, it's, you know, I see him as a VP.
How do you process that?
Because, okay, A, he's an egomaniac.
We all know that.
Like, I'm not going to lie.
Trump was crazy polarizing whatever the economy.
All the policies were good.
But, I mean, he does have a fan base.
I personally want DeSantis to be the president.
That's just hands down.
But if Trump runs again, Trump could only go for one more term, right?
Trump can only go for one more.
One more term?
I mean, why not?
You're setting up DeSantis to keep that going for 12.
Yeah, 12 more years.
So, I mean, it could be good, but I mean, I don't...
Who did we talk to that time you had here, Pat?
The...
I don't know, that was his press.
Nikki Freed or Christina Pushoff.
Christine, when she was like, it's too early to talk about it.
She didn't want to mention it.
But I felt like she had something in her pocket where she's like, he would run and he does want to run.
But I mean, I think it might be a good strategy to be like, listen, I'm definitely going to go.
I'm probably going to win because the way that everything is all jacked up right now.
And then you'll just wait in the wings and then you'll get, you know what I mean?
You'll get the eight years after me.
I think it's an olive branch.
He's suddenly saying something halfway positive about DeSantis.
Remember, three months ago, DeSantis was unappreciative.
That's what Trump said about him.
Remember that?
And so he was pushing back.
Like he was trying to keep him out of the field of play three months, four months ago.
Now that he's in the field of play, polls are proving it.
He's putting out this olive branch.
I'm the big dog.
Come run with me.
We win.
I think that's where it's going.
I agree.
I don't know.
I think Trump is still the lead guy.
No matter what.
I think Trump, dude, his endorsement record.
I don't know if you're following his endorsement record.
He's like 140 and 11.
I mean, he's better than the 97, 98 Chicago Holes for the record he's got.
He's 141 and 11 on the endorsements he made.
You have to know there's weight behind his voice.
Because look at his campaign.
Pat, his campaign not to cook you off.
His campaign is going to be like, what did I tell you?
Look at this shit.
You want me to have a fight?
His campaign, you're right, can actually be, I told you so.
I told you so.
Right.
And you're very correct about it.
You know how I measure it, Pat?
I measure it that the one that he didn't get in Georgia, CNN covered it for three weeks.
Yeah.
Right?
This is Trump's endorsement.
Didn't work.
Remember the guy in Georgia?
And they're like, wait a minute, why are they screaming about this one for three weeks?
It's because they're scared to death.
Listen, people can say whatever they want.
Michelle Obama has a voice.
Whether you like Michelle Obama or if Michelle Obama goes out there on the campaign trail, she's got weight.
When Obama shows up, he's got weight.
When Trump shows up, he's got weight.
I don't care if you like Trump or if you like Obama, and I don't care if you don't like them.
There is weight behind their voice when they show up, and Trump still has it.
Now, Trump is claiming he's going to come out and announce that he's running this month.
Oh, wow.
He wants to make an early announcement.
Yeah, yeah, he wants to make an early announcement, like this month.
That's going to be July.
He has to.
So that's what Roger Stone said he was going to do.
Well, there's an article that also came out.
I don't know if Roger said it.
Oh, Roger said that as well?
Last week.
And I project that he's going to say something in July.
An article just came out as well that said that.
He hasn't pushed back on the polls.
The polls with DeSantis are going up.
Can't let this get to the midterm and get DeSantis.
I'm letting DeSantis get to 10 points over me.
I have to declare now, declare the death.
And their only thing to kind of, because I remember, the Russian collusion thing was for the whole gut, the whole freaking presidency.
The January 6th thing, where's it?
Did that finish?
I know they had some girls.
I think they're still going on where they're like, he grabbed the wheel and said, let's go.
And then all the CNN miniseries now.
Oh, yeah, it's insane.
So, I mean, they don't really have much on them except this, you know, the democracy.
Let me tell you that nobody cares.
And let's talk about who Trump had as his VP before, Mike Pence.
Mike Pence was quiet.
He stood in the background.
He wasn't very loud.
He wasn't vocal.
He was kind of just there.
He was around DeSantis.
He had a fly on his head for like an hour.
Florida is the hottest state in the nation right now, by far.
DeSantis is loud.
He's opinionated.
He's strong in his beliefs.
I think Mike Pence scared the shit out of Donald Trump.
And I had one more electoral vote than last time.
Wait, you said I think Mike Pence scared the shit out of him?
Absolutely.
I don't think that Trump felt that Mike Pence was loud enough, was vocal enough, would defend him, was really, really could stand up for himself.
I think Trump wants somebody that's basically like Donald Trump, not as polarizing, but will stand up, will punch back, will take the swings, will do what has to be done, and stand up.
No, there's a reason that Trump selected Mike Pence out of nowhere in 2016.
It's because he was the exact.
What do you mean?
He got him elected.
And it got him the evangelical base in the Midwest.
He was very calculated.
He picked the exact opposite of him.
If you recall, I'm going back to 2016.
You were probably still in college then.
But let me tell you something.
He could have picked Christie.
He could have picked any number of those candidates, Ben Carson.
He said, let me get the most whitebred, middle-American, stoic, non-drama.
Are you saying it was a bad choice?
No, I'm saying it was a great choice.
I thought it was a great choice.
And it's specifically because he was not a New Yorker Trump like Christie.
So what I'm saying is, like, I hear what you're saying in hindsight, 2020, he wants someone a little more bombastic, hit back.
But the whole, like, this is the ironic thing about Mike Pence.
He was the most loyal, boot-licking vice president I've ever, like, he was just like, you know, that's my president.
Like, he was stand by your man.
And then the ironic part is, you know, now he wants to hang him at the end.
And if you know your presidential history, that's why Nixon chose Agnew, and that's why Hillary chose quick around the room.
Who'd she choose?
Who's a weird guy?
Damn, exactly.
That guy scared the shit out of me.
Well, once you selected him, I'm like, who's this loser?
He was scary.
His smile and that guy scared you shit out.
There's the point.
History is making your point.
Yeah, I agree.
The thing that no one wants to talk about here, not here, but like whether you agree with me or not, all good.
Trump is still toxic.
So here's the question.
Trump is still toxic.
DeSantis is not toxic.
Adam told me to most Americans.
You are an absolute disaster.
So if you're watching this, I'm actually really curious.
Give a thumbs up if you agree with the fact that Trump and DeSantis are going to run together.
If you think it's going to happen, I don't know if it's going to happen, but if you think it's going to happen, give us a thumbs up.
I'm looking at the numbers right now.
I don't know how many people believe that will happen.
And I don't believe DeSantis would agree with that.
I don't even think the call.
Now, here's the thing you got to realize.
When's the last time two people with massive personalities agreed to be the VP?
And the VP could have beaten the candidate.
You know, when was the last time that happened?
LBJ and John F. Kennedy couldn't stand each other.
And John F. Kennedy went to LBJ and said, I want you to be my VP.
And it's like, who the hell are you?
I'm supposed to tell you I want you to be my VP.
This guy's a you kidding me.
You think you Irish family, this, this, that?
And then that's how it happened.
How'd that work out for JFK?
Well, there's a lot of conspiracy.
I don't think we can interview him.
But it didn't work out well.
I mean, obviously, that's the story.
Listen, but DeSantis and LBJ are not the same human beings.
LBJ is a qualified, qualified dirtbag.
That is not the case with who DeSantis is.
But why, like, complete hypothetical.
If you're DeSantis and you're becoming a trailblazer, right?
You became a superstar, you know, during COVID.
You're creating this legacy.
Do you actually want your legacy to be tied directly with Trump?
Or do you want to be like Trump adjacent?
Hey, thanks for all you've done.
I'm going to do my own thing.
Follow me.
Keep in mind, Trump is 76 years old.
DeSantis is 43 years old.
Does he want his entire legacy tied to Trump or does he want to carve his own path?
I think he wants to carve his own path.
I think the timeframe, because like DeSantis is hot as hell right now.
This next two years, I still think he'll be up there because we're still dealing with COVID shit.
And Biden said, and like, whoa, there's going to be a second pandemic.
Not maybe there might be.
Joe Biden said, because I think he went off script.
We're definitely going to have a second pandemic.
And unless that happens, because, you know, DeSantis is the best.
DeSantis is like, whatever they're saying, come to Florida.
We don't give a shit.
And that's one of the reasons that I'm here.
But my point being, I think he will get on with him and keep that shit going.
And that people are like, we love him.
They obviously love Trump.
And then when Trump is done in four years, well, I'm going to deal with it for four years.
DeSantis is going to take over.
Bob Tony Easy's.
When you say they obviously love Trump, who are you talking about?
Do the Republicans absolutely worship Trump?
And DeSantis, and then having him being right there, bro, their mentality is going to be like, four years with Trump, and then guess what?
Boom, we're going to have another eight with DeSantis.
And that's a rough.
If only Republicans are voting, yeah, I agree.
But there's like a whole other half of the country that you still have to win over.
First of all, I think there's a huge percentage of the population that likes DeSantis and doesn't think he's as toxic as Trump.
And again, I agree with you.
Trump is exceptionally toxic, like exceptionally toxic.
I agree.
I agree.
The people want somebody who's going to fight for them and stand up and punch back.
And I don't think they want another Mike Pence.
I don't think Donald Trump wants another Mike Pence.
I don't think he wants a Chris Christie.
I don't think there's anybody else in the party that he could pick to run with.
He wants a Mike Tyson and a Roy Jones.
That's what they want.
They want those two running it.
And then when Mike Tyson retires, in a perfect world, it's all well and good to pick somebody on the policies.
But this isn't the world we live in.
We live in a world with Joe Biden and Kamala Harris and a Democratic left party that's going to trash everybody, slam you, throw mud, sling mud, throw water.
There's no more rolling over and playing.
It's both parties, though, Tyler.
Everyone does that.
You don't think Trump slings mud?
But Trump, but who else?
Who else in the party does?
Trump.
Trump serves.
Trump is the only person in the party that anyone's even concerned about.
Nobody cares about anyone else other than Trump in the Republican Party.
And then possibly DeSantis.
Okay, but and then if you look at the other side, you have Nancy Pelosi, Kamala, Joe Biden, Gavin Newsom.
You could go down the line.
Everybody's throwing mud.
Everybody's slinging mud.
You don't think Lindsey Graham is throwing mud?
You don't think Jim Jordan is throwing mud?
You don't think Marjorie Taylor Greene is throwing mud?
Come on, Marjorie John.
Make Chase be real.
Everyone's doing it.
Jewish space lasers.
So I don't take a lot.
Like, I take everything she says with a grain of salt.
But no, I mean, she's got a voice.
But politics is a dirty business.
We learned that from Roger Stone.
I don't know if Trump's going to pick him as a VP.
Who would you think?
No, no, I think he's going to pick somebody that's a very non, you know, it's going to be somebody you least expect.
And it's probably going to be somebody that's not even on the stage.
Not even like a Rubio or somebody like that.
No, Rubio, he will never take Rubio.
Rubio is not a, he would never take Rubio.
And by the way, I totally agree with you.
You have to, like, I'm not even dissing Trump right here.
I think this is a factual statement.
The man has a humongous ego, humongous ego.
So if you have a DeSantis there waiting in the wings, what do you think that does for someone with a massive ego?
Especially if he's a VP.
He's a threat.
Paranoia.
Exactly.
Paranoia is going to set in.
What's he thinking?
Looking over my shoulder, if you have someone like a Pence, who when Trump was dealing with the worst of the worst stuff, you know, hurricane in Puerto Rico, whatever, any issue, the Charlottesville, whatever issue is facing, Pence stood there and said, that's my man.
I defend him at all costs.
That is what Trump wants.
And where Pence fell off is at the final day, at the final countdown, when he needed Pence to be like, no, you're still the president.
Pence said, no, you lost, bro.
And that was the death of Pence.
He needs someone a loyalist till the end.
Do you think if Tulsi Gabbard switched the sides and she could become a bad person?
Wouldn't happen.
He would never pick Tulsi.
Never?
He would never pick Tulsi.
No.
He wants a COO that's not too loud.
That's who he wants.
He doesn't want somebody that's too loud.
He wants a quiet COO that gets the job done.
That's who he's looking for.
He'll be outstaged by DeSantis.
DeSantis is a rock.
No way.
Even if it's 1% outstage, he doesn't want that in his life.
He wants it to be about himself.
Somebody else that's a true believer, that's a flag carrier that's going to get him to make his job easier.
And that's he's, by the way, he's already got a handful of names that he's thinking about.
He would never tell anybody who it is, but he's already got a handful.
Look at the states that are tipping points.
Like what states are up for grabs?
You know, someplace in the Rust Belt, someplace in the Midwest, whatever's going to be up for grabs, assuming he runs, whatever, that's where you need to look.
It's the same four.
Okay.
Same four.
Wisconsin, Michigan, Pennsylvania, Ohio.
It is this exact way.
So look there for where he's going to be.
Well, let's move on.
Let's move on from this story.
Let me tell you guys why CNN keeps losing clout.
And the new leader of CNN says, well, we're going in a different direction.
We're going to start doing reporting.
Show the article I just sent you about recession.
You tell me how this reads.
I just texted it to you.
Okay.
So you would think, like, okay, they're going to talk about recession and they're going to say different opinions and they're going to say, well, people disagree.
And it's going to be a reasonable route.
Nope.
Look at this title, actually.
Zoom in.
Who decides if the U.S. is in recession?
Eight white economists you've never heard of?
What?
What do you mean, eight?
What does white have to do with recession?
And this is CNN.
And you wonder why people are sick of your games.
Just say eight economists you've never heard of before.
That one word white is why people are sick of you.
That one simple word, because that's exactly this division.
That's exactly how you get people angry to think the white people are saying there's a recession.
Can you go up a little bit?
Go up a little bit.
Let's actually read this article to see how it's written.
Open it up a little bit, zoom in a little bit more.
So they say the people's names?
Yeah, prominent Wall Street economists like Mark Zandi, investing luminaries like Arkins, Caddy Wood, and Kathy Wood, and executives like J.P. Morgan Chase, Jamie Diamond, can make recession predictions until they're blue in the face, but their guidance will remain just that an economic forecast.
That's because in the United States, the economy isn't broadly and officially considered to be a recession until a relatively unknown group of eight economists say so.
The economists who serve together as business cycle dating committee are hand-selected by the working under umbrella of National Bureau of Economic Research, a private nonprofit organization.
They have no predetermined meeting dates and their deliberations are.
I mean, what are you saying?
And look, there's no recession unless these guys say so.
Yeah, that's the one right there.
There's a clear lack of racial diversity among the eight members.
It's race.
CNN, when it comes down to recession, there is no color.
Nobody says, well, in order for us to finalize recession, we need to have one black, one Hispanic, one Iranian, somebody from the LGBTQ.
That's the only way recession is real.
Stop playing these games.
No, Nick, you want to hold on.
I said none of us.
They are so ridiculous when they do this.
So ridiculous when they do this.
And by the way, keep doing it.
Keep doing it.
If you forgot why CNN Plus didn't work with $300 million in small little startups like, you know, what's Ben Shapiro's company's name?
Daily Wirewire.
And you got these other companies that are coming up.
They're whooping your ass.
And it's not going to slow down, by the way.
You keep playing games with Americans who just want some information and you keep trying to say it's division.
Right.
What a pathetic article right there.
They're trying to create division.
I am one pathetic article right there.
I'm 100% agreements with you.
100%.
They're playing identity politics.
Listen, I don't care if you're blue.
I don't care if you're red.
When it comes to the economy, it's all about the green.
You're playing identity politics.
10 leading economists, eight leading economists said this.
Period.
I don't care if they're black, white, yellow, green, Jewish, Catholic.
Like, give me some actual substance.
What's the next eight?
They're 5'8 and under.
Like, now they're gonna play fucking ball height.
It's like, bro, relax, bro.
That's insane.
It's too much.
You see, when you do stuff like that, you don't.
None of these people say anything gases and eight bucks a gallon in LA.
Okay, what are your thoughts on this?
It says African Americans account for 13% of the U.S. population, but only 3% of economists.
What's stopping you from becoming an economist?
Well, wait a minute.
Wait a minute.
Okay, let's play that right.
Let's play that game.
Sure.
Can you tell me white people account for 60% of the population, yet only 11% of the NBA?
You're right.
Is the NBA racist?
Yeah.
Why don't you let white people play there?
America accounts for 24% Hispanic, but the NBA is only 1% Hispanic.
What a racist organization.
I think less than 1%.
But what I'm trying to say to you is, by the way, a comment like that, for people who don't really read into it, they're like, oh, that's right.
Bullshit.
You deserve to be more black economists.
Guess what?
Go become an economist.
By the way, it is way easier to become an economist than it is to become an NBA player.
1,000%.
Just so you know.
Yeah, 1,000%.
Yeah, they're done, bro.
I love the analogy you just gave there.
Because anyone with their head on straight will be like, well, yeah, obviously, because they're not as good as the tall seven-foot black guys playing basketball.
Just because of your color, your belief or your belief system, you don't deserve a job.
Or deserve a meritocracy.
Yeah, I'm 100% with you on Pat.
It's annoying as hell.
It's not going to stop, though, but it's not going to stop what they're saying.
Can you go to the part about rescinding jobs?
Go to that one.
Go to the Wall Street Journal article because this is a little weird.
This is stuff we've not heard of before.
Just take it from the text I sent you.
Go back to it and go from there instead of looking for your 75 tabs that you have.
That'll take you 18 minutes.
Just go to the text I sent you and just pull that one up because this one is interesting, folks.
Where's the article?
Let me see where it's at if I have it even here on my page.
Hang on.
There you go.
Okay.
So Wall Street Journal.
You don't have the article?
No, I don't think you sent it to me.
But this should be it right here.
That's the one.
More companies start to rescind job offers.
Okay.
Go a little closer and go lower to read the first line right there.
That's the line.
Go a little closer.
Companies, including Twitter, Redfin, Coinbase, have rescinded offers in the recent weeks.
Employees in other pockets of the economy are pulling away offers too, including insurance, retail marketing, consulting, and recruiting services.
Okay.
So, you know, like, by the way, just out of curiosity, if you're watching this, or even you guys here, Tom, you've been around and you follow the economy closely.
Yep.
When's the last time you heard an article that says companies are rescinding job offers?
10 minutes after the crash at the fourth quarter of 2008 is where everybody made the sudden adjustment, right?
The money chightened up.
Everybody pulled job offers.
It's been 13 years.
To rescind job offers.
So to the average person that's listening to this, explain to us what that looks like.
What is resending job offers?
Okay, so you have a company that's got 500 employees, and up at the top, you've got finance people and everything, and they're looking at sales, looking at sales come in, and it's a little weak.
Meanwhile, down on the third floor, the HR department's trying to recruit people per the plan that they said a month ago, and they're recruiting them.
And at the same moment they're recruiting, they're realizing sales numbers are soft, and they're realizing that the economy is tough.
So when they yell stop.
Already there were people that were in that hiring process that were going through getting their drug tests and everything to get hired.
And they're having to call them back saying, hey, I'm really sorry.
I just made you a job offer, but we have put a hiring freeze on retroactively and I have to pull the offer back.
So you see what I mean?
The statistics and the change in the economy, Pat, is happening so fast that as they see sales and they see what's happening to the economy and they're yelling, stop.
Even as Downstairs was working to hire good people, finding really good people to come in.
And they're having to say the people that were about to give two weeks' notice or maybe three weeks hold it.
You get great people.
Sometimes they want to give three weeks' notice to a prior job.
They're having to go to those people and say, see if they'll take you back because I have to pull the offer.
It's happening so fast, Pat, that that's what's happening.
The rescind is happening because the economy is moving downward fast.
I can't imagine saying to somebody like, hey, listen, Pat, thank you.
I'm going to another company.
They're going to be paying me a lot more.
I'm giving you my three weeks' notice.
And they're like, okay, cool.
You know, still kind of some tension there.
And then I come back.
I'm like, listen, Pat, I need you back.
I have to come back here.
Is it okay?
Like, if you were you, wouldn't you be like, first of all, no way.
And if there was any way that you were going to come, you know, I'll piss off that person would be like, listen, yeah, for half of what you were going to get.
I'd be a dick.
I'd be like, oh, you just bounced.
And now that's.
What a point.
You mean the former company?
100%.
What is the former company going to do?
Yeah, well.
You already took another offer.
No, but yeah, but Pat, but I love this job.
I didn't know they were going to do that.
I don't know they're going to rescind.
So nobody's going to always leave on good terms and always leave friendly, always offer referrals two ways.
You never know who you're going to need.
That's insane.
That would be so awkward.
Hey, guys, we got a new guy, but he's not new.
He's back.
Vinny's back again.
That's great.
Or Vinny, you come back to me.
Vinny, you know, in two weeks since you gave notice, we're also seeing sales down a little bit and everything.
And actually, we're not going to replace your position.
We had already talked about with you leaving.
Maybe we...
Janitor?
I cleaned the bathroom really good.
He said, Do you see what could be happening?
I know, for sure.
Yeah, for sure.
That's insane.
What are the odds that you probably stayed in the same industry where you knew people and you got a next job with another competitor company?
Exactly.
And the economy's hitting that side.
They said, Vinny, I'm really sorry.
We just figured out we're just not going to replace you.
That's insane, bro.
Yeah, Zuckerberg also said the same thing, where they're letting people go.
Amit warning meta downsizing hiring plans, Amit warning of layoffs.
By the way, I'm going to text you this article if you want to pull this up.
It's an Epoch Times article.
But they do this stuff that you got to put your email.
It takes a while to pull that article up.
Didn't Bezos and Zuckerberg recently just start talking?
Zuckerberg, we're turning up the heat at Meta so employees will quit.
Jesus, what?
Yeah, that's exactly.
You really said that?
Go zoom in.
Facebook parent Meta wants to cut ties with workers who can't meet newly raised performance expectations as a company prepares for an economic downturn.
Zuck's frank admission came during a Q ⁇ A session with employees in which he warned that a recent slump in the markets might be one of the worst downturns we've seen in recent history.
This is coming from Zuckerberg.
Realistically, there are probably a bunch of people at the company who shouldn't be here.
Imagine saying that to Reuters.
Like those of you who are Cheryl Sandberg's wedding, you're out.
Part of my hope by raising expectations and having more aggressive goals and just kind of turning up the heat a little bit is that I think some of you might think that this place isn't for you and that self-selection is okay with me.
I actually love that position he took.
Love, go a little bit higher.
Zuckerberg indicated that Meta plans to slow its hiring process, hiring platform engineers at least by 30%, roughly adding 6,000 to 7,000 workers rather than 10,000.
It initially expected a hire.
Some roles that are currently empty will stay unfilled as Meta dials up pressure on current employees.
You're right.
What do you think about that when you hear that?
What do you think about it, Adam?
I mean, you've said pretty candidly that most companies should fire the bottom 20%, right?
I mean, so the good news is if you're in the top 80%, you can keep your job.
You know, they say Warren Buffett has said this before, so have other great luminaries in the economy.
There's one way to be recession-proof or inflation-proof, and that's just to be fucking good at what you do.
Have a straight-up skill set and be good at it.
If you're kind of lollygagging and there's a difference between a job and a career, if you're a career and you become a specialist and you're constantly improving and getting better and showing loyalty to the company and you want to be there, you're not going to get fired.
And if you do, you'll find another option.
But if you're in the bottom 20%, bottom 40%, you don't really kind of take your job seriously, you know, again, the individual responsibility.
What do you expect to have?
You're so right.
The top third has nothing to worry about.
The middle third maybe get nervous.
The bottom third should be terrified.
Simple as that.
Yeah.
I mean, I don't remember the number you said exactly.
I don't know if it was 10%, 20%, 12%, 30%.
You think the bottom 30% should be fired?
I think for every time somebody comes in and says, you know, if a boss comes in and says, these three people deserve a raise.
Okay, cool.
Sounds good.
How much of a raise are we?
Like if you're running a real business, these three people deserve a raise.
Fantastic.
And you got 100 employees.
And by the way, this is going to sound cold, but if you've never ran a business, you haven't operated, no problem.
You can have your opinion.
Go operate a business and you'll see what it's like when you have to hit margins and expenses and all these other things you deal with.
Amen.
If you come and say, we got to give these three people a raise and we got to hire three more people, I said, great.
I think that's a great plan.
So tell me, which one or two people do we have to let go?
Wow.
What do you mean?
Well, you just came to me asking me to hire three more people, right?
Okay.
And you told me to increase the, so revenues, if it doesn't match the revenue that we're growing, if you ask me to get more employees, but the revenues increase isn't at that pace or not higher, then you have to also come up to me and say, here's the two people I also recommend we move on with.
Wow.
Okay, cool.
No problem.
So this is what it should sound like.
A real manager should come up and say, hey, Tom, I got Adam.
I think deserves a raise.
He's crushed the last two quarters.
I think we need to bump him up from 80 to 92.
And then I think Tyler's crushed it.
And I think we need to increase Tyler as well.
And I think we need to hire three new people, one engineer, one BI analyst, and one processor.
And this is what we need to do.
And then at the same time, this person that we have in this department, who's an engineer, I think is not the best.
Called in six, seven times in the last four months and is usually late.
And the attitude isn't necessarily there.
And we've asked them up and we've sent them emails a couple of times, written them up.
I think we need to let him go.
And this other person that's working over here as a processor, I don't think they like their job and they complain to everybody and they're very negative.
So I think we need to also let those people go.
You approach your boss that way.
The boss is going to be like, oh, okay.
Give those guys a race and hire those three people.
You know what I would say to you?
Yeah.
You know what I'd say to you?
It's probably what you'd say.
I would say, hey, Pat, thank you very much for that.
Obviously, you follow the NBA and you know they have a salary cap and most sports now have salary caps.
I really appreciate the way you're managing this with the salary cap.
You're trying to put the best team on the field with the salary cap, and you're going to pay some stars and you're going to cut some players because you stay with the salary cap during this economic downturn.
You're going to get a bonus at the end of the year.
Thank you for thinking that way because that's the way I have to think, Pat, with a salary cap every day.
And then Pat goes up to me and goes, now you're gone.
He gets the bonus.
I'm going to tie a lot of your kids.
Like what you did there with the NBA analogy salary cap because it's if the salary cap is, you know, $100 million a year, make up a number, $10 million, whatever it is, that's your number.
So if they want to hire more people and give people more raises, somebody's got to let go.
Now, in the NBA, you might say, well, there's a luxury tax.
No, there is no luxury tax.
That's my point.
Exactly.
You're losing money and you can't.
There you go.
By the way.
It's back in the old days.
What did they call it?
The hard cap?
Hard cap.
But can you imagine?
How many people complain about the NBA when they fire the bottom who are not performing and they go higher to top who are performing?
Who complains in the NBA?
Nobody.
Nobody.
But God forbid.
God forbid you do them.
What do you think is the difference?
Both of them are businesses.
Exactly.
Exactly.
Both of them are busy.
This man just had two points, seven turnovers, and a technical foul.
It's like, well, we got to let him go.
Not only that.
How come Haslam never gets fired?
How come Haslam has a bad person?
Attitude, shows up.
He's a good person, shows up to war, sitting there talking to the young guy, saying, listen, drop those three girls.
Be careful getting that one pregnant.
Hero didn't listen.
And you got a couple other people that are going through this, but you're having that conversation with the people, right?
He's a player coach.
He's a player coach.
You stay on the team.
You were going to say something.
Yeah, I just, I wonder on that point, if there's a layer deeper to this, that you see Facebook, this is a little old, but Facebook's their users decline.
Okay.
You're seeing Elon Musk buying Twitter, cleaning people out.
People were revolting.
He fired the people at SpaceX who spoke out against him.
You're seeing Jeff Bezos have his spats with the administration.
I wonder if these business owners are starting to get sick and tired of the inmates running the asylum.
And this is a convenient excuse.
I wonder if they're starting to push back and say, listen, this is my company.
I'm tired of the culture.
I'm tired of the toddlers and babysitting all day.
We're going to clean house.
We're going to make this work.
You're affecting my bottom line.
And I'm sick of it.
By the way, say that's it.
I support it.
Go for it.
I support it because sometimes at one time, it's 2013, 2014, I am afraid of losing my entire company.
I, as the founder CEO, I am scared.
I'm having panic and anxiety attacks every night because the business is about to go from what it is to losing 100% of people.
And I'm leading through fear and I'm walking on eggshells.
So I'm afraid to challenge my guys too much because they may leave me.
And I'm afraid to set my standards.
And they're now telling me how to lead.
They're telling me that you should do this, you should do that, you should do this.
So what happens for a year and a half?
Talk to Jennifer and you'll see.
I'm like, oh my God.
I'm like, yeah, hey, so you guys are awesome.
Also, you guys are great.
Oh, my God.
No, no, no.
And what?
I'm like, be cool.
I'm so sick of your like, stop.
You're a leader.
Go back to leading.
If they don't want to do anything, no problem, but you're going to find the right guys.
I turn them to heat, switch.
My work ethic is the same.
It's not like I'm not working, but I raised standards to this level.
A couple of them didn't like that.
Couple of them were okay with that.
And a couple people who were not players went to levels that we never thought they were going to go to.
The company took off.
But sometimes a Zuck or a Dorsey or anybody will go through the fear of, man, what if we lose that guy?
What if we lose this guy?
What if we lose that guy?
You know, sometimes like even when you're creating content, sometimes you're like, man, I can't say that because if I say that, what if we never interviewed that guy?
Yeah, I can't say, oh, because we need that guy.
Oh, what do we need?
Be respectful.
Give your thoughts.
Don't play games.
Don't manipulate.
Don't be divisive.
You know, straight up show up.
Do your best to constantly improve.
Realize you don't walk on water.
And then all of a sudden you're looking around.
You're saying, Michael, we got some great people around us.
We have a very good environment here.
People are having fun.
People are working.
And those who don't want to work hard and those who don't want to have fun and those who, this is not the place for you.
And that's totally fine.
And if Zuck is going through that, guess what I say to him?
Salute.
Good job.
Good for you.
Good for you for standing up on what's not working.
What is this?
Netflix.
Netflix alters corporate cultural memo to stress the importance of artistic freedom.
It's a little older, but it's, you remember what Netflix did this a couple months ago?
They said, listen, if you don't like the content, too damn bad.
Go somewhere else.
Yeah, we were going to make a lot of people.
It took a while.
It took a while until they did that.
It cost them how many users.
It cost them all.
Remember that one day when their stock dropped like 40%?
Everybody and their mothers was talking about that?
Finally, they realized leadership is hard.
Listen, you don't like it?
Go elsewhere.
And it only took a $50 billion drop to be like, oh, shit, being woke and pandering to everybody.
It's like, bro, as a comedian, Pat, I'm not saying I don't give a shit about people's feelings, but it's my experience, my idea.
I think there's been a big lack of, this is my opinion.
What I say isn't factual.
You don't have to fact check everything a human being says.
This is what I think.
You could think a certain way.
Adam has a certain way.
I'm in front of an audience.
This is your audience.
I'm a comedian.
I'm writing sketches.
I'm shooting shit.
This is my idea of what funny is, and this is what interesting.
If you don't like it, change the channel.
Don't change the goddamn company because you think a certain little group isn't going to like you.
Yeah, but you're funny as hell, bro.
Let me tell you, there's certain people that want to be funny and are not funny.
And there's certain people that don't care to be funny, but are very funny.
There are certain people that want to be NBA players, but they suck at basketball.
There are certain people that want to be models, but listen, you ain't got to be a model.
You know, certain people that want to be bodybuilders, but you don't have the body to be a bodybuilder.
You're a comedian.
And it's very natural and it's non-stop from the beginning to the end.
And it's proven it.
So, by the way, shout out to Valutamic Comedy.
If you haven't subscribed, go subscribe.
His latest one that you did.
I was watching it the other night.
Was the mafia one?
Not the mafia one.
The one with the stabbing.
My friend Buck.
And then the music comes on, the epic music.
And then he's like, bro, I'm not going to lie.
It's not doing anything to me.
Can you do it one more time?
Oh, my God.
Let me do it one more time.
It's hilarious.
It's on Value Taint Comedy.
Please subscribe.
And we just shot another sketch.
I don't know if you were here, Pat, on Friday.
Here's what I got.
It's hilarious.
Let me tell you what I got.
I'm out elsewhere.
I don't know where I was at, but I'm out elsewhere.
And I get a text saying, guys, we have Vinny walking around the office in a G-String.
I said, no way.
No, no, he is.
Actually, I think.
It wasn't even for a sketch.
No, it's just Vinny.
Pat, that wasn't a sketch.
It was G-String Friday.
Tom, you weren't.
It wasn't E-Helps.
I thought it was Chaps.
It was Asla's Chow.
Because I have some.
Tom looked great.
And I have some other caps.
I'm right there with you.
But that's the type of, like, oh, Pat, you made my point exactly.
I'm going to, I'm trying to be funny.
I want to be different.
I mean, that character you guys are going to see sooner or later.
But like I said, you don't bow down to anybody when it comes to your art and your job and your talent.
Period.
Shout out to Vinny and VT Comedy.
Subscribe.
But by the way, back to the Netflix, the lead into the story.
That was the height of the Dave Chappelle transgender comedy fiasco when Chappelle's like, look, I'm not.
And by the way, I'm Chappelle.
I'm going to keep doing what I'm doing.
If you're upset with it at Netflix, you know, kick rocks.
Exactly.
Exactly right.
And Dave Chappelle was just exhibiting his comedic genius and artistic freedom.
This was not the Michael Richards meltdown that happened at the comedy club where he took that laugh after he took leave of his senses and exposed a lot of deep biases and it's wrong.
That was not entertainment.
And the woke wants to make all of it the same thing, but it's not.
It's comedy.
America needs to laugh.
It's artistic expression.
It's freedom of speech.
And if you don't like that comedy, turn the channel.
Exactly.
Turn the channel.
I agree 100%.
By the way, do we want to at all take the risk and touch a sports story?
Oh, no.
I don't know, Pat.
Our audience can handle a sports story.
Touch a sports story.
All right, let's look at Kevin Durant's story here.
Kevin Durant is requesting trades.
And Durant trade from Nets and reportedly half the league called within an hour.
Durant may have set off the biggest trade sweep stakes in NBA history.
Durant on Thursday requested a trade from Brooklyn Nets.
According to multiple reports, at 34 years old, Durant is still in MVP form, coming off a season in which he averaged 30.7 rebounds, six assists a game.
He also has four years and about $200 million left on the contract.
Adrian Wajanowski on NBA Today said that more than half the NBA has already called the Nets.
There was certainly a lot of back channeling going on around the league to suggest that Kevin Durant was planning to ask for a trade at some point, and it happened today.
And now I'm being told that since the reporting here in the last hour, half the league has reached out to him, et cetera, et cetera.
So where do you think he's going to end up and what's going to happen with Kyrie and these guys?
You're following some of this.
Of course.
Well, just news flash to our friends in Brooklyn.
You can't buy a championship.
This is the second time they've tried to do this.
They did this, I don't know, 10 years ago with KG, Kevin Garnett, Paul Pierce, that crew.
Didn't work.
Nothing.
They tried to do it again with Kevin Durant and Kyrie and Harden.
Didn't work out.
I mean, we learned that lesson back in 2004 with the Lakers when they had Shaq and Kobe and Gary Payton and Carmelite try to buy a championship.
It's not the team with the best players.
You're right.
You talked about the title.
It's the team, the players that play best in the players.
Maybe let me ask a question in a different way.
So, okay, most likely Durant's going to where they're saying it's going to go to Miami or Phoenix.
We'll see.
Okay.
No, no, not Golden State.
You don't think it's going to go to Golden State?
Tell me why you don't think it's going to go to Golden State.
Tom's analogy, the salary cap.
I mean, they're going to have to trade three people.
Yeah.
At least I don't see him going back there.
Okay.
You don't return back to the bank.
By the way, FYI, if Golden State traded Wiggins and they gave a few pieces to get him, I think it's a mistake if they do that.
I think Wiggins works very well with his attitude and his.
He's like, Wiggins is a better version of what AI was.
Andre Igadawa.
Oh, gosh.
No, no, no, no.
He's playing that role very well as a number four, and it's perfect.
You don't break up a team after you want to go to the bottom of the business.
Dude, don't even touch it.
Don't even touch it.
If he goes to Miami, who has to leave?
Oh, they'll trade whoever they want other than Jimmy Butler.
That's the only person that's untouchable.
I think if you trade Jimmy, he won't go.
No, no, no.
It'd be a cornerstone of Jimmy Butler, Bam Autobio, and Kevin Durant.
And if he goes to the next one, they're going to trade what?
They're going to trade Booker for him.
No, Booker's untouchable.
So is DeAndre Eaton.
Everyone else is going to be able to do it.
But they trade Chris Paul.
Everyone else is expensive.
Except for DeAndre and except for Booker.
I actually can't see that working out.
I can see that working out.
The thing with Durant, without going too sportsy here, and I'm trying to make this like a business analogy, you touched on this earlier: legacy, legacy.
Durant arguably is right neck and neck with LeBron.
Right neck and neck, right?
But legacy-wise, do you think Durant's legacy will be anywhere near LeBron's?
No.
No way.
Not at all.
And why do you think that is?
LeBron went and won.
First of all, the guy won.
Okay, Miami, you won those championships.
Dwayne Wade was the leader.
Fine.
Fine.
No problem.
Then you go to Cleveland.
You're the leader.
And you won.
Okay, great.
Then you go to the Lakers and you win during COVID, whatever.
Say three and a half championships he's got.
But you win.
You got the championships.
Durant went to Golden State who had already won and you won.
Now, Kerr, Steph Curry, and all those guys still try to give him credit.
Oh, my gosh, he did this.
He did that.
They're playing a very clean game that they're doing.
No, but Durant's legacy is he's listening he's a top 10 player of all time.
He's not going to make he's not going to make it in the top five the way he's playing.
And he could have easily made it into a top five.
His argument could have been a top five.
His decision-making process is not a decision.
Let me ask you, Pezzy.
Well, and also, he's never done this before.
There's a lot of players out there.
Well, Durant usually, you said it.
He sticks around to win a championship.
He's got some loyalty there.
No, he doesn't.
You don't think so?
Zero.
No.
Listen, they're playing against Golden State.
He's at OKC.
He's with Westbrook.
They're up 3-2.
They're about to beat them.
They probably would have won the championship that year.
And they end up coming back and they beat him 4-3.
And you're this close you could have won it with Westbrook.
Then you leave and go to the team that beat you.
No, bro.
That was over.
That was the day when it was over, where Durant is like, you're joining the guys that like, that doesn't make any sense to me.
So, look, I mean, listen, the NBA is going to try to go out there and get this guy.
And I think Booker is probably going to play with this guy, or Jimmy's going to want to play with this guy.
But Booker is for me, when I look at what's going on with the NBA, like, this is why I like Milwaukee Bucks.
Yeah.
Because I like Giannis.
And I like the fact that they're going up there with a Giannis Middleton guys.
You're like, who are these guys?
They built these guys.
They built these guys.
I like Golden State.
I love what Boston does.
I hope Boston doesn't touch and screw that thing up.
Don't touch it.
They think they're about to win.
And I actually like what Miami has done.
Just bring a couple other pieces.
Now, don't get me wrong, as a Miami guy yourself, you probably wouldn't mind Durant coming to Miami.
You're going to be like, you'll take him in a heartbeat.
I agree.
But the story that, just because I came from New York this past weekend and I actually visited Brooklyn, something's going on there.
Really?
Something?
I mean, why does KD want to get out of Brooklyn?
Why did Harden want to get out of Brooklyn?
They just brought in the guy Simmons.
There's something toxic going on there in Brooklyn.
I don't know.
But they're not as toxic as the Knicks.
We know that.
Don't ever talk about it.
First of all, toxic is a byproduct of a lack of leadership.
None of those three are leaders.
Not Durant, not Kyrie, not Harden.
None of them are leaders.
But I'm worried about the leadership at the top.
The owner, this size, it's easy to blame situations like that.
Going back to your point, what you said, you still got to lead and you got to go perform.
There is no leadership between those three guys.
They're just talents.
What made you pick this sports story that you want to?
I don't know.
He put it on you.
I'm like, let's talk about it.
So, okay, let's talk about Rachel Maddow to make you happy because I know you're a big Maddow fan.
So here's Matt Out.
Maddow's story on what happened.
Isn't Maddow supposed to be like their superstar?
Isn't Mattow like MSNBC superstar?
Yes.
Tyler, would you say yes or no?
Like, that's their superstar.
Yeah, I've never watched MSNBC.
MSNBC replacing Mattow with previously canceled Alex Wagner, puzzles insiders, no institutional memory.
MSNBC Alex Wagner has Rachel Madow's time slot replacement for four days a week.
The network's biggest star is not on the air, but insiders have questioned why executives would attempt to replace Maddow with a previously canceled host who never moved the needle on television.
MSNBC finished the second quarter of 2022 with its smallest audience amongst advertisement demographic of adults ages 25 to 54 since 2003.
MSNBC's nearly two decade low in the critical category came during a jam-packed stretch of news that included Russia's ongoing invasion of Ukraine, the Uvalde, Texas school shooting, and the beginning of the January 6th committee hearings.
The second quarter also featured Mattow scaling back her workload to once a week as she began hosting the Rachel Maddow show only on Monday nights last month.
NBC selected Wagner as a former MSNBC host to replace Mattow with a new program at 9 p.m. Eastern Time slot Tuesdays through Friday beginning in August.
What do you think MSNBC is going through right now?
What is this all about?
As Adam said, I don't pay much attention to MSNBC, but I think everybody's trying to redirect, man.
And they see Tucker Carlson has the leading audience across cable television, not just in Republicans and Democrats as well.
And they understand that people have their numbers.
CNN, MSNBC, all those outlets, they're trying to revamp and redirect themselves.
I think MSNBC is tired of being the crazy Joy Reed Rachel Maddow network, and they want to do something different.
Now, I'd like to give Rachel Maddow some credit.
We saw the other day, we played the clip about her, you know, saying Trump never sided this insurrection.
So credit where credit is due.
But I think people want to get more of the Jake Tapper vibe where, yes, you may be opinionated, but at least you're rational, coherent.
You can make an argument.
You can fault your own side, et cetera, et cetera.
You're not an activist.
You're just reporting the news.
Yeah, you have your biases, which we all do.
But like right there, Pat, when they said that two decade low happened during a jam-packed stretch of Ukraine and the beginning of the January 6th committee, nobody wants to hear that shit, bro.
It's just too much.
It's like, you know, threat to democracy.
I don't know how many times I heard threat to democracy over and over.
And people are just tired of it.
Well, and don't forget, they're the same people that told you there was rushing.
Of course, exactly.
That's what I was going.
That's my point.
People know that they hired the former producer from ABC News to literally produce the first week of this trial.
They know it's a show trial.
Tom, what do you think is going on here?
I think MSNBC has got to find itself.
And there's two thoughts that are in the mind of leadership and that they can't reconcile.
One is they honestly feel they are a liberal position network.
They feel they are equal time.
That's what they feel.
And that's why they filled it with Rachel Maddow, who became a hit and so many things with it.
The other side of it, they're looking at the reality of Tucker Carlson, the reality of moderates, the reality of ratings.
And they're also looking at the reality of corporate ownership.
And they are trapped.
They're trapped between the identity of what they feel MSNBC is and the ratings and the need for commercial decisions.
And they're stuck in the middle.
And you're seeing them trying, you know, trying to do it, trying to put together a team.
Who's the right person for MSNBC right now?
Like if MSNBC was to go out there and get somebody who would be a good person for MSNBC, I think the problem that MSC is having is those right people have already left.
Who am I talking about?
Brian Williams, I thought, was an absolute stud.
Gone.
Do you remember his?
Of course.
He said, this is not what I signed up for, basically.
That's exactly right.
I was a big Brian Williams fan.
I was also a fan of, what was his name, Chris Matthews, been on the air forever, and he got caught up in the Me Too scandal.
What happened with him?
MSNBC, much like CNN, jumped on the anti-Trump train.
Now that the train is off the tracks, what's your story now?
You're not going to just start defending Biden.
So they went all in on the anti-Trump campaign.
Trump's gone.
You quote unquote won.
You remember CNN, but Don Lemon cried, I don't care.
Okay.
Now what?
I mean, you got to still be journalists and tell the news and tell the stories and the facts.
And the facts aren't pretty right now.
Do you know Sauce Talks Money?
Zero sarcasm here.
Do you know Saucecast?
When you do Saucecast, you have more viewers than Don Lemon does.
Seriously.
No, no.
What are you laughing at?
Seriously.
You have the same amount of viewers as Don Lemon does.
Think about that.
When you're doing a YouTube live, you're getting the same amount of viewers as a Don Lemon is getting.
How are they selling advertisement on Don Lemon's show?
How are they selling it?
Like, what are you telling people to do?
Like, who's watching that show in the first place with Don Lemon?
So, anyways, if I'm MSNBC, if I'm any of these big guys, you got to go be heavy-duty recruiting today and bring a new vision in that's exciting.
And you really got to fire the bottom 30% of people that are hurting these numbers and show the marketplace that you're MSNBC.
Everybody knows your brand.
But you've taken the wrong angle.
Again, peddling, trying to, you know, please everybody and you're trying to make everybody happy.
Didn't work out.
Maybe a new strategy is a good place to start right now.
Because if they keep going the way they're going right now, they're going to get crushed even more.
Well, there's a case study for you at CNN.
Bring in Jeff Zucker.
So you bring in Jeff Zucker.
He strategically built exactly what he wanted to build, and he was not hibited in any way.
Now, he screwed himself up with the whole affair thing and the thing that went over at the marketing because that was a lack of integrity.
But what he built was what he said he would build.
It just didn't sell.
The product didn't sell.
You're talking about CNN.
Correct.
And CNN Plus.
So you need to start at the top.
You need to bring someone in and set the strategy and go.
And if America doesn't like that product, they're not going to watch it.
But that's where it's got to go.
It's not going to be, could we pay Tucker Carlson a trillion dollars to come across the street and say we're going to do it?
You don't start it at that level.
You have to do it the way CNN did and bring in leadership to set strategy and to put it there.
And if America doesn't like what's there as they didn't like it with Jeff, then his affair and everything becomes an excuse to also put a nail on him.
Well, CNN and MSNBC should pray to God that Trump wins so they'll have, they could go back to the talking strategy.
Right, then they'll get their views.
That's a good point.
I'm dead serious.
Very good point.
They better pray to God that he wins again so they can be like, all right, the Trump train's back on the fucking track and let's just bash him every day.
Oh, insurrection.
That's all they're going to do, bro.
So everybody that's there better pray to God because that's what Mark Zucker had.
It was the Trump showing all those undercover Project Veritas videos.
Those guys are like, bro, that's all they told us to do was Trump, Trump, Trump, Trump.
Bro, it worked.
It worked.
By the way, you're not wrong at all.
And, you know, like Jeff Zuckerberg.
Orange will be the new green.
Exactly.
That's true.
Jeff Zucker was famous for stirring up controversy.
Like he's the guy that said, oh, Trump's about to speak in about a half hour.
Just keep the cameras rolling on the empty podium for a half hour.
You've seen this.
It's like Trump's about to speak.
And just, okay, what's happening right now?
Another thing these legacy media companies need to embrace is the fact that their demographic is getting older and grayer and won't be here around much longer.
You kind of got to tap into the younger generation on YouTube.
You brought up the fact that Saskatchewan is getting as many views as Don Lemon.
All right.
Respect.
It's 10 times more entertaining.
And it's not even close.
I'll take it.
Yeah.
Yeah, but you got to cast a wider net.
So I guess what I'm seeing with these, with MSCs of the world, the riches are in the niches, but if you're too niche, like if you're too pigeonholed, like you're not going to convert.
You're not converting anybody.
Tucker, you know, he's got his base, but there's also some people he's converting saying, you know, I didn't like this guy.
I didn't like Fox News, but this guy's got a point.
So that's the challenge that they're going to be doing.
Can you pull up the story I just sent you?
Pull up the story I just texted you a minute ago about Newsom tweet about Florida.
So here's what Newsom said about Florida.
Gavin Newsom goes on the air against Ron DeSantis as political rivalry grows.
So if you want to go a little lower, so I wonder why he's doing this.
Weird.
Go a little closer.
Let's read this a little bit more, zoom a little bit more.
Newsom and DeSantis aren't just avatars for the different futures of the parties, but also for the separate realities blue and red Americans are living in.
Two people of opposing viewpoints and looking at the same exact set of facts and coming to vastly different conclusions.
They are both governors.
So go to what he said about Florida.
I want to read what he said about Florida.
I think it was on Twitter or something like that, what he said about Florida.
Okay, there you go.
It's Independence Day.
So let's talk about what's going on in America, Newsom says.
In the ad, standing in the California sun, tie less as Americans, the beautiful fingerprint in the background, American is under attack in your state.
Those last words flash across the screen and read, followed by DeSantis shaking hands with former President Donald Trump and another of the Florida governor as Newsome ticks through Florida laws to ban books and restrict voting speech and access to abortion.
I urge all of you living in Florida to join the fight or join us in California, where we will still believe in freedom, freedom of speech, freedom to choose, freedom to imprint, freedom to love, Newsom says, as all images proceed of an aerial shot of Santa Monica Pier to show rainbow red flags, flags waving in the hands of two women in arms around each other.
Don't let them take your freedom.
The ad is paid for by Newsome re-election campaign through this clearly da-da-da-da-da.
He's running for president, Newsom told CNN last week.
I care about people.
I don't like people being treated as less of them.
I don't like people being told they're not worthy.
I don't like people being used as political pawns.
That's because you never do that, buddy.
This is not just about you.
And never.
You can't post your child of it.
We're as different, Newsome said, as daylight and darkness.
Over the course of 20-minute phone interview, Newsome called DeSantis bully, a fraud, an authoritarian, a fake conservative, a betrayer of Ronald Reagan's legacy several times.
DeSantos, everybody got portions of the playbook, Newsom said, comparing DeSantis to other Republicans.
He's writing it.
Gavin Newsome might as well light a pile of cash on fire.
DeSantis campaign spokesperson David Bram said, passed the popcorn for his desperate attempt to win back the California refugees who fled the hellhole he created an estate to Florida.
Okay, so here's the thing about what he's doing.
We get it.
He's running.
Okay.
And we get it.
They think Florida's running.
Now, here's the thing.
DeSantis is running.
Here's the thing.
If you're part of the LGBTQ community, okay, if you are, where are you better off?
Florida or California?
Florida.
What do you think?
I'm actually curious.
Zero clue.
I don't know.
I'm not part of that community.
You were hanging out with them.
That's why I'm asking you.
Yeah, I knew that.
You were doing that, but I'm not like.
I don't make my decisions based on what's going to happen.
But actually think about it.
I don't know.
Think about where are they going to be better off in Florida or California.
Well, let me ask the question a different way.
Where are you better off if you're running a business?
Florida or California?
Florida.
Florida.
Okay.
Where are you better if you can't stand wearing a mask?
Florida.
Florida.
Where are you better if you are part of the LGBTQ community?
I would say California because they're very...
What is Florida doing to actively discriminate against LGBTQ?
That's exactly where I'm going.
I know.
You've seen the thing.
Don't say gay.
But the whole thing.
But by the way, by the way, when you poach, which is what he's doing and what DeSantis is doing, this is a poaching game.
Okay.
When you're poaching, who's DeSantis poaching?
Californians.
Business owners.
Correct.
Yeah, come here and open up.
Yeah, listen, come over here.
Business owners who are independent responsible.
You and me.
Yeah.
Who is Newsom trying to poach?
People that are just leaving the state.
But I'm actually being very serious.
Who is he trying to poach?
So he's targeting LGBTQ community.
Fine.
That's the community you want to poach.
What other community?
So do you think his argument for business owners leaving Florida to California, how many business owners do you think will leave Florida to go to California?
After that speech?
Yeah.
Let me think.
But I'm being serious.
How can you poach them?
Is he going to poach guys that don't like high taxes?
Is he going to poach guys that are willing to go out there and start a business?
Is he going to poach those guys?
He's not.
No.
So his campaign, who you think is going to watch that and be inspired to want to come to your state?
He's recruiting victims.
None of the people you want.
So guess what, DeSantis?
If you're recruiting victims, and if I am DeSantis and Newsom says this, if Newsom said that, if I'm DeSantis, I say go, go to California.
My campaign would be very simple.
If you like high taxes, if you like a ton of entitlement programs, if you like to be forced to take the vaccine, if you like to be forced to put on the mask, if you want to, I have a great state for you to move to.
It's called California.
California, if you like the worst homelessness.
FYI, if I'm the leader of the Republican Party, the Conservative Party right now, and I'm not talking about like, I'm talking about strategists behind closed doors.
The campaign people.
Guess what I'm doing?
I'm getting all the state governors together and I'm saying, guys, what's the one state you're never going to win?
And it doesn't matter anyways.
California.
Why don't you send everybody one-way greyhound tickets straight to California?
Let's fund it.
You know what that does?
That locks in your state.
Okay.
Let's sell California is the state to move if you're the following category.
Go for it.
And you start driving it.
Hey, listen, you feel like that?
You should move to California.
And business owners are going to be like, but if you're this, you should move to Florida.
You should move to Tennessee.
You should move to Texas.
You should move to this.
I'm one of those people, too.
As I was reading that, you were the person that just moved here from California.
Pat, I'm sorry, but I'm going back.
You?
He sold me right there.
You're rescinding.
I'm rescinding.
You know what?
Take that offer.
You know where you get it.
I'm going back because you nailed it to.
I want the homelessness.
I want the taxes.
I want, because, you know, the second pandemic is coming.
And trust me, if you want to be in a fucking place that stays to what Fauci and them say, I'm going back to Florida.
But back to Cali.
By the way, I would love, love, love, love to see a Newsom-DeSantis presidential election.
I would love that.
By the way, I would love to get the Biden-Trump situation.
Let's close that chapter.
Let's let some 40 and 50-year-olds.
I love that.
And let the market decide.
I love that.
Let the market decide.
Who do you think would be honest?
Who do you think?
I think that DeSantis would be the favorite.
I think so too.
And I'd love to see that.
Let's get some new ideas, get some fresh ideas, bring your California, bring your Florida stuff, and let's have a real intellectual debate.
You guys should have seen, when I was in Cali when the Newsome recall was going on, I've never seen that many people out loud at the gas station and shit, but like just pissed off.
They're just angry.
They were just like, we got to get this guy the hell out of there.
And I think Larry Elmo was like, no, they still lost.
I mean, he by a landslide.
By a landslide.
But people that were scared to talk were coming out and just openly saying like, dude, what the hell are these?
But again, going back to my point, that is the most loyal party.
The left and Cali?
I would be going down.
Everybody to California.
100%.
I would do this.
I would do a press conference and I would say, Governor Newsom, I'd like to, at no cost to your state at all.
You don't need to pay me a salary.
I'm not going to take money away from your tax revenues that you're bringing in.
Don't worry about any of that stuff.
Consider me your chief recruiting officer.
Exactly.
And here's what I'd like to say to who you saying this at?
I'm saying this to Newsome.
Okay, okay.
And if you're the following, and I'm going to go through it, if you like this, if you like this, I highly, highly recommend you move to California.
Highly recommend.
Go there if you like these following things.
Anyways, listen, people in California, like, you know how you're saying, you just said right now, I was in a gas station.
I was in this.
I was in that.
I was in this.
I was in.
Like, oh my God.
You know, everybody wanted this guy out.
Not really.
Not in California.
They did not.
Okay.
The people that, the core core people that live in California, don't want this guy out.
The part when I said on WorldStar, when Biden put that up and 99% of all the people trashed him, that's America to me.
Believe it or not, to me, that's more America than what California thinks because that to me is not America.
That's California.
California is like France.
Yeah, it's its own country.
You know, there's a game behind the game here to step back from this to look at what Newsom's trying to do.
Here's the game.
Where is the money for the presidential elections?
Is it in the individual campaigns or is it a DNC?
It's a DNC because when you win the primary, the DNC has got the big treasure chest and they drive that hard.
But the DNC also controls the green lighting system of whether you're allowed to primary a sitting president in your own party.
Right now, they need the midterm election to be done, and it's going to be bad.
They need Q3 economic.
It's going to be bad.
They need the Q4 economic report, and it's probably going to be bad.
With those three items, Pat, mark my words.
The DNC will suddenly, subtly allow formal primary activities against Biden.
Right now, the DNC will not permit it.
They will not permit you to go up against a sitting president.
What Newsom is doing is he's testing because he's going to test this, and they're going to run all those phone calls.
If you've ever taken a political phone call, did you see recently so-and-so said so-and-so?
Yeah, how did you think about that?
And they ask you, they're going to be testing this to see how this campaign speech, this stump speech that he just did, worked against DeSantis.
And they're going to be making the case, hey, listen, we're the only viable candidate.
Kamala Harris, not her.
We're the viable candidate.
You need to be behind us.
You need to allow the green lighting process to happen.
You need to allow me to start doing primary work in earnest.
And when the DNC behind closed doors subtly says, okay, Gavin, you can start preparing primary.
Bash against that's when it will happen.
Have you ever noticed that all of a sudden you go from speculative Iowa candidates to suddenly there would be actually validated Iowa candidates in both political parties?
That's when the RNC DNC step up.
And that's when the big dollars start to come out.
Now, you have to raise money as a campaign, but there's bigger dollars behind you.
And Newsom is campaigning less against DeSantis right now, Pat, but he's campaigning against Biden with the DNC to be the guy they get behind if they're going to primary a sitting president.
Got you.
You really think it's Newsom?
You think Newsom?
You think Newsom is the guy that's running primary?
Unless Michelle steps up, I think he's probably going to test the best.
I think there's no way that they don't get Michelle in the race.
I don't think they legitimately don't think they pay with anybody.
I'm on your page.
If he's not Michelle, I don't think they're that stupid.
I think they know they can't win with Pete.
They can't win with Kamala.
They can't win with Gavin.
They can't win with Andrew Cuomo.
They can't win with anybody.
Well, here's my question.
They keep sending Kamala out to mispronounce foreign countries.
Right.
And I think Bill Burr hit this a while ago when he's like, you know what?
She has zero qualification, technically, to become a president.
She was just the wife of a president.
Are you think people will see past that and be like, they know that she's not running the show?
Are they still going to be able to deal with these policies and everything that the left has put in place just to have a different face that makes them feel good?
Like, oh my God, they put in a woman of color.
It's like, come on.
Got a high Q score.
People, by the way, the same presidency, when Obama did that event.
It's a very high Q score.
Five weeks ago, Obama did an event with Biden.
And Biden was looking like the neglected steps.
I saw him facing him as Obama went.
He did that.
Yeah, he's like, dad, dad.
And by the way, that will be the Michelle presidency.
She will have her moment, but that's going to be Obama and the Obama people running the country.
100%.
That's obviously.
Well, it's no different to what it is now.
Of course it is.
Yeah.
It'll be the same people running behind the scenes.
It'll just be a better face.
I think it'll be even, I think there's part of it that they're in, part of it that they're not, but there'll be even more of it if it's Michelle.
Well, anyways, that's the stories for today.
We got a bunch more that we didn't get into, but it was a great podcast.
We covered a lot.
When is your next show?
You got what's Thursday.
This Thursday.
Anything you're doing crazy?
We got some special stuff going on.
We're talking about how expensive food is these days.
Okay, good.
And then, Vinny, you got a video coming up.
Yeah, Valutainment Comedy.
I'm trying to post on Fridays in the morning.
We're going to release another sketch this Friday.
Please subscribe, guys.
There's going to be a lot of funny, crazy characters coming up.
I love it.
And then, Tyler, what do we got Thursday?
Thursday, we have.
Thursday, we're doing podcasts or no?
Yeah, we're doing a podcast.
We got Jedediah Wednesday and Friday, and then Thursday we have da-da-da-da-da.
I don't say anything on the calendar for Thursday, so.
