In this Episode, PBD is joined by Vinny, Tom, and Adam and has a MAJOR announcement to make!
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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.
Why would you plan on Joliet when we got pet tape?
Value payment, giving values contagious.
This world of entrepreneurs, we can't no value to hate it.
I didn't run, homie, look what I become.
I'm the one.
All right, so podcast here.
What episode are we on, Rob?
Can you tell me?
Is it 290?
Is it 289?
What do you mean?
280.
Okay, 280.
20 away from 30.
20 away from 300 episode.
Good.
Anyways, yes, because I'm reading the message and the text at the same time.
We got some announcements to make today, which is pretty awesome.
I'm excited about this.
I've been working on this for 13 months, and it's official.
I'll make it here momentarily.
Right, they said 13 years.
13 months, but it's been a dream since 13 years old.
Well, 13, 14 years old.
Wow.
But we got some stories.
Let me first tell you what the stories are, and then we'll get right into the announcement.
How about that?
I don't know.
We said sports.
I was wearing a Joe Burrow jersey.
I saw you wearing Aaron Judge.
I said, I'll put on the Ruth and you.
Can somebody send Adam a jersey, please?
Watch Adam get like 50 jerseys this week.
I was wearing a wife beater and you made me put on a jersey.
Yeah, because I want you to stay married.
That's right.
I want you to stay married.
So anyways, here's some of the stories we got.
We haven't talked economy for a while.
This last week, we had some guests on that one of them was against delegating.
And the other guest that we had on was a brilliant comedian.
And if you know, if you watch the podcast, you know who I'm referencing, but it was a blast, both of them.
Yes or no?
Amazing.
Oh, yesterday?
Yesterday's guy?
Anti-delegate.
Anti-delegator, Jeff.
He gave me books, signed books.
I love it.
Guess what?
Chapters 9 and 10 stuck together.
It was crazy.
He was one of the funniest, his sense of humor on the way he took it.
I was so impressed.
I was impressed.
Anyways, okay, so there was a fight yesterday.
Schiff didn't have a good day yesterday.
Everybody, listen, today it's about firing everybody, you know, indicting everybody and silencing everybody.
It's just a mess right now in politics, which makes for entertaining news.
So we can talk about that.
MSNBC president is open to a Trump town hall, angering liberals, which if he knows what happened to the last guy who got fired, maybe this can happen to this guy as well.
Economy, Adam's got some stuff to talk about the economy.
The S ⁇ P is back to its numbers, if not even better, record-breaking numbers than ever before.
Does this mean, you know, all this stuff about the financial crisis is not going to be happening?
We'll find out what he has to say.
Zuckerberg wants to fight Elon, which is interesting to see what happens there.
Pentagon, what is the most money, folks, you ever had missing?
I want you to think about this.
What is the most money you ever had missing?
Rob, what's the most money you ever had missing?
Like, you were like, where's that $100?
Where's that thousand dollars?
Honestly, $65.
I just lost it the other day, and I was really bummed out.
And then I saw this story.
Well, $65,000, the Pentagon accounting error provides extra $6.2 billion to Ukraine.
No, you don't say.
And they're not even asking for it back.
They're just saying it's future money that we're going to make to you.
Such great people.
I mean, when you think about this kind of things, you almost want to be Ukraine to get the aid that you're getting.
Oh, my God.
Anyways, so Zuckerberg's master plan to kill off Twitter revealed.
It's pretty dark, but we'll talk about it.
Fed share sees a long way to go on inflation fight.
BlackRock and JP Morgan helped to set up Ukraine Reconstruction Bank.
Vacant office are piling up Silicon Valley.
Progressive leaders encouraged to buy media outlets for boosting influence over Americans.
By the way, great strategy.
Unfortunately, there is no conservative leaders encouraging them to buy media outlets.
So you got to give it up to these progressives.
U.S. housing starts surge most since 2016, exceeds all estimates.
We'll talk about that.
Housing shortage fuels price bidding wars as homes for sale hit record low.
And then we got a couple of feuds here.
One is the one between Kevin O'Leary and Mark Cuban about woke.
Disney's got the elemental, which features non-binary character flops in opening weekend.
We'll talk about that.
And whatever's going on with this Titanic missing, you know, it's just some strange stuff.
And then some homelessness cities.
And apparently, officially this week, the richest man in the world is no longer Elon Musk.
What?
Who is it?
Renault, who's officially Andrew and Tristan Tate because they own 21 million Bitcoin.
Really?
They're worth $600 billion according to this article.
Oh, wow.
And they're like, where is our business?
Oh, my counting.
We covered that as well.
Anyways, let me tell you what the announcement to me is.
Here's what the announcement is.
So just so everybody knows, the only person here that knows is Tom.
No one knows.
Can I be honest with you?
You should give kudos to Kelly and everybody that's out there.
I swear to God, if I find out, no, no, listen, I swear to God, on everything that means anything to me, I've been trying to find information.
I'm like, listen, I'll take you to dinner.
I'll give you, I'll send, I'll then give me a hint.
They're good at dinner last night.
I swear to God, she didn't tell me anything.
And I was like, I go, Pat should be proud of you.
You're promising dinner is probably not.
So here's what it is, guys.
From the moment I came to America and as a kid, having a dream, sports, all this stuff, reading daily news, reading LA Times, following basketball, Magic versus Jordan that won finals in 1991 or baseball relating to who Juan Gonzalez was at Texas Rangers, my height, the swing I wanted to emulate, or the Mickey Mantle card that I wanted one day.
Now I got a few Mickey Mantle cards or the dream of Babe Ruth cards.
Oh my God, Babe or this or that or football, all these things.
This has been in the works.
It's been a dream.
It's crazy.
I got a call last year about a conversation of if I have any interest of being a minority owner of any team.
Stop it.
Oh, my, shut up.
Stop it.
I, at first, I was going back and forth.
I said, let me get my lawyers involved.
We got the lawyers involved.
And after the lawyers getting involved, and I'm like, is this real?
Are we doing this?
Are we not?
Yes.
And here's the options.
I said, no, I'm not interested in this, not interested in this.
He said, but there's this one option.
This man who was on the board of this team, he's coming up for retirement and he wants to sell his shares.
Would you entertain this?
And I said, sure.
So, anyways, long story short, effective last Friday, after background checks with MLB, after 40 articles I've written, after all of these things that's happened effective last Friday, I'm a minority owner of the New York Yankees.
Let's go!
Shut up, Pat.
That's why you wore this.
There we go.
I had to throw you off.
I did.
Jersey, dog.
What the hell is this?
Are you serious?
I'm not serious.
Let's go, baby.
Yeah, this is what?
This happened last Friday.
We're in Bermuda.
I get the news.
What?
Lawyer calls the CFO, Tony, from Yankees.
Congratulations.
You're officially part of the team.
Pat, are you kidding?
What does that even mean?
When I went to the Schultz podcast, my idea was I was going to announce this on the Schultz podcast.
What?
So I'm like, hey, you know, we rescheduled.
I was like, why has it got rescheduled?
Trust me, there's a reason why I'm rescheduled.
So when I went to New York, it was the best meeting.
Let me tell you what happened.
It's the final meeting that determines it all.
We've already done a bunch of different interviews.
And I'm sitting in a room with Randy Levine, who is the president of the Yankees.
You got Lon here, who's been with the organization since 1975.
He's pretty much the COO.
He's a decision maker.
He's a big, big decision.
He's an American success story.
He started at the bottom.
He was like one of these guys just selling stuff at the Yankees, and he made it to the top.
Session.
And he got Tony on this side, the CFO.
And we're sitting having a conversation.
And then Hal Steinburner walks in, sitting here.
We have a nice 45-minute one-hour conversation.
So tell us about this.
And what about this?
And what about that?
And what about this?
I said, listen, guys, here's the only thing you need to.
I'm loud, have opinions.
I love America.
I'm a capitalist.
I'm this and that.
So I feel great.
Here's how this works.
And then Hal gave this, and he's the boss.
And he's this, he's that.
Incredible experience.
Got a private tourniquet back.
They took us everywhere.
Lon took to the coroner office.
We sat down.
We had an incredible conversation with them.
Look, I'm excited about this.
This is a dream.
This is a part of why we do what we do.
And it was exciting, man, to see it finally.
Pat, do you have any idea?
I had zero idea.
I thought we were bringing somebody on board, whatever.
But the New York Yankees are the greatest sports organization in the history of sports.
Congratulations.
That is so.
So we're going to games then.
Well, that's what I was trying to do.
That's all we're doing.
I get it.
We're going to get on the jet, go to New York, have dinner at 11 Madison, then go to the box.
You guys, we're going to meet everybody.
It was going to be that whole experience.
I'm like, schedule keeps, it's going to be conflict.
I'm just going to make the announcement today.
So now that is, I'm a little upset, Pat.
Because I've been rooting against the Yankees.
Not anymore.
Not anymore.
Since the 80s.
Oh, my God.
For years.
For years.
Yours and years.
Now I'm the biggest Yankees fan.
Now I have to go.
Follow the Yankees.
We're going to root for the Yankees.
So, Pat, what was it like?
That deciding moment where, well, you guys are in the talks.
And what's that moment where the decision is like, is it like a conversation to a lawyer?
Do they hit you up personally?
What is that?
Oh, it's a listen, it's a long process.
Took nearly 13 months.
It's a long process.
Background check everything.
Everything.
They have to go.
It's the MLB.
You're a representation.
Like, you have to.
So, but, anyways, you know, eventually, when this, what this is to get in, this is a stepping stone to if you ever want to become a majority owner.
Now they've done the background.
Now you have the run rate.
So a lot of the majority owners first start off as minority owners eventually.
You know, so I mean, the plan is the plan, but this was a this was a stepping story.
I want to hug you.
The owner of the Red Sox started in South Florida as a minority owner of the Marlins.
There you go.
So just know moving forward, we're wearing Yankees.
Peter, Peter over there, who's a Red Sox guy.
He's like, I hate you.
I can't believe you're doing this.
Did you hear him?
He banged on the door.
That was Peter banging on the door.
Can I just say one thing?
Yeah.
Oh, my God.
Only in America.
Yep.
That's right.
Made in Iran.
Escapes Iran.
Yeah.
1991.
November 20th, 1990.
I come here.
1990.
Lives in a refugee camp in Germany.
Escapes Christian in Iran.
Escapes everything that's going on with the Mulas, the Ayatollah.
Comes here, 1.8 GPA in high school.
Nobody thought you would do anything in your life.
He didn't think he could.
Exactly.
He didn't.
He was going to do 20 years in the Army.
U.S. Army, veteran.
We all know those stories.
We're going to have tanks.
So you know the Royal Firestone thing from Jerry McGuire and you're starting to cry now.
Yeah.
No, not at all.
This is more of a message to anybody.
The victim mentality.
Everything you do with PHP, everything you built with Value Taint, now you're a part owner, a Marnie minority owner of the greatest sports franchise in American history.
Oh my God.
Only in America.
It's in the world.
There's only about the Mount Rushmore of sports franchises is the Yankees are on that.
And you're number one.
20 years old.
Absolutely.
And most championships.
And on a global soccer basis, even man you is below that.
Dallas Cowboys are up there.
But this is the preeminent sports franchise in the world.
Incredible.
And by the way, I mean, you have to.
So let me tell you what I did in Bermuda.
Matt Sopalo, if you're watching this money smart guy, when I told you I'm only taking you because I wanted to keep it low-key, this is what I was going to take you to.
He's like, are we going?
Are we not going?
He didn't know what was going on.
So we're going to still go, Matt.
Just hang tight.
I'll give you the dates when you're going to be able to do it.
PBD.
I was going to wait till another day, another time, but I have something for you.
Really?
I have something for you.
Okay.
Okay.
So I didn't expect this.
We had zero clue what the announcement would be.
But with the Only in America thing, being born in Iran, made in America.
But what people don't know, I mean, people know, but if you peel back the onion of PBD, you're a proud Armenian Assyrian.
Yes.
Right?
Very.
Your father is Assyrian.
Your mother is Armenian.
Now, Armenia still exists.
Yeah.
Assyrians, the Babylonians, everything that was going on.
So I was just in Israel.
I went to Jerusalem.
I actually FaceTime it.
You're like, I have to.
He's like, I'm buying the Yankees.
Leave me alone.
But I don't know anything about Armenian culture, but I went to the number one culture store in all of Jerusalem, Armenians.
I FaceTimed you with the lady.
I said, I want to get this guy something special.
I don't know anything about Armenian culture.
Get me the best thing here that this guy would love and appreciate.
Can I give it to you now?
Sure.
All right.
Yeah.
Let's see what it is.
Oh, let's see what's going on with this.
Here we go, sir.
Oh, my God.
Is that a fun?
I've already opened it up a little bit so you didn't have to spend all your time opening it up.
There's a few things.
They threw in, open up the big one first.
So there's three things in there.
So she said she thought you would love something like this.
This is from Jerusalem.
This is from Jerusalem.
Basically, in Jerusalem, it's called the Kotel.
It's four quarters.
There's the Armenian section, the Jewish section, the Christian section, and the Muslim section.
Okay.
And this was the number one store in all of the Armenian section.
This is the Lord's Prayer.
In Armenia.
In Armenia.
Wow.
That's very good.
From Jerusalem.
Wow.
From Jerusalem.
This is from Jerusalem.
This is insane.
Thank you.
I can't read good.
I can't read.
Sometimes, you know, someone gets like a Chinese tattoo and they think it means like the spirit.
Yeah.
And then it turns out that it's something obnoxious.
That's awesome.
I guess in Armenian culture, this is a symbol of life and peace and prosperity.
The peacock.
It is in every, pretty much in every Armenian home.
Yes.
Yes.
Do you have anything?
I don't have anything like this here.
There it is.
I appreciate you, man.
You're the man, baby.
Thank you.
And there's one little extra thing in there that she threw in.
She's like, since you've done all this, let me throw in a little extra extra.
Armenian pipe.
Why would you give me an Armenian pipe?
Hey, I want you to smoke that.
Oh, sheesh, dude.
It looks like a pipe.
That's hilarious.
But it's not.
That's amazing.
Well, thank you, bro.
Of course.
What a motherfucker.
I appreciate it.
I'm not going to sell you my shares to the Miami Heat or anything like that, but it's the least I could do.
Okay.
But I think I can speak for the whole team.
We are super proud.
Super excited.
Awesome.
And everything that we got going on.
Well, listen, you know, none of this happens.
It comes with a team.
We've had some great people over the years.
This wouldn't happen without Tom.
This wouldn't happen without Jen being in my corner.
All the PHP people, they know who they are, what they've done, all the value team people.
It's been a lot of work.
This has been an effort for a long time.
And by the way, man, you got to also give credit to the enemies.
I'm about to have a book being launched on December 5th.
It's going to come out.
I'm excited about this book here.
The title of the book is called Choose Your Enemies Wiser.
I am thankful for also many of the enemies over the years because without you, it would have been boring.
This is an exciting game.
Here's the crazy thing, though.
As wild as this is, I am telling you right now, we're just getting warmed up.
I wish people knew, Tom, what we're doing beyond closing.
By the way, it's been 100% radio silent on my side.
And my phone is getting blown up because a certain girl wants to know if you know anybody because she wants a career in sports and a lot of people.
Know who she is and she'll.
She'll get it the next time we're going.
She's going to go with us.
It's blowing up right now.
PVD, do me, do me one last favor.
Listen, let me tell you.
Yesterday the box we were getting was 16.
I said guys, can we get a different box?
They're working on getting us a box with 26 or 30 people to take everybody there.
You know it's gonna be awesome.
I will cry if we walk in there past what we signed up for.
I'm gonna cry.
It's gonna be great.
Do me one favor.
This actually might be the most important message.
If and when there comes a time they ask you to throw out the opening page, all my people, I need you to pass any.
I need you to i'll wear the VT shirt and i'll warm up that arm.
We can't have a moment throwing in high left.
I'm gonna bring coaches to work on me to say listen, work on this arm.
There's some kind of a 80 mile an hour pitch here, maybe more like a 45 mile an hour pitch, but anyways, as Jeez said to Obama, don't bounce it, they will boo you.
That's a true story.
That's what he told.
What super excited, super excited.
I want to get into the podcast, but I wanted to make this announcement that we did this beautiful and it's awesome.
I appreciate all the support.
Uh uh, by the way, while we're going into this, before we get into the podcast, let me real quick give a shout out to the sponsor of this podcast, Masterworks.
Uh, the economy right now is strange.
One minute it's the end of the world.
Adam's about to show the greed fear index that we'll look at next minute.
People are excited.
Next minute people are afraid.
Nobody knows what's really going on.
But here's what you can count on long term.
Everybody I know that is investors who call me with different opportunities.
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Okay, let's get right into the economy.
Uh, first things first.
Tom Fed Share sees long way to go on inflation fight.
This is a NEW YORK Times story.
When you turn on the news you'll see Kramer saying, it's back, all these fear and all this, it's done, everything's great.
And then the debate's like, well listen, it's only seven stocks that are driving the market.
No, stop being pessimistic.
Things are great.
Look at what's going on.
They're not raising the rates anymore.
Here's what Powell says.
Powell addressed lawmakers, stating that the United States has a long way to go in tackling inflation.
Powell emphasized inflation pressures continue to run high and the process of getting inflation back down to two percent has a long way to go.
The Fed's recent decision to keep interest rates unhint unchanged after a series of increases does not indicate victory over inflation, Powell explained.
Given how far we've come, it makes it makes sense to move rates higher, but to do so at a more moderate Pace.
We compared it to slow, slowing down as you get closer to your destination, seeking a delegate balance and cooling economic growth without overdoing it.
The central bank's economic projections suggest the possibility of two more quarter point rate increases this year.
So, Tom, when you hear this story, you see where the SP is at.
You see where the market's at.
Are we done with the market crash?
Should we still stay paranoid?
Are these rates done going up?
You know, are property values going to go up?
What's really going on with the economy?
Well, I want to give, I want to encourage everybody to think of it this way.
Think of the economy right now in three chapters.
Chapter one is the financial economy.
You look up and you see the stock market doing good.
Oh, the SP 500.
It's not far off from an all-time high.
Why the bounce back in tech stocks?
The things that are driving that are much different the rest of the economy.
And we'll just, and I'll bring it up with one point.
Do you remember all the people that were laid off by tech?
Those people represent expenses.
So now these tech companies have less expenses.
Some of them haven't seen revenue up a lot, but if you have the same revenue and less expense, you have more profit, the stock price goes up.
So that's what's going on.
It is tech driving the stock market.
Now, that economy doesn't translate to the personal economy because for those stocks to bounce back, what did we just talk about?
A bunch of layoffs.
So there are people that are hurting.
And we're going to talk a little bit later about amazing things that are going on in commercial real estate and housing in California as a result of that.
So the financial economy is one thing and you see it the stock market.
The personal economy is quite another.
And we just talked about how layoffs are impacting people.
Now you step back to the housing economy, which is directly connected to the personal economy because everybody needs a house, whether it's rent or whether it's buy.
And right now, the Fed is still impacting the personal economy because interest rates aren't going to come down, allowing people to buy more houses for a while.
And the Fed is saying we think it's slowing down, but they are probably going to raise the rate in July and then skip and then raise the rate in October.
What that means is this 7% mortgage we're seeing right now, good credit, 30-year fixed, is still 675 to 7% right now.
That's probably not going to change, which means you're going to still have pressure on housing.
So what's going on?
Remember, you're actually seeing three pictures at once.
You're seeing the stock market, you're seeing the housing market, you're seeing the personal market.
So, but here's a part, Tom, that I got to bring this out for the real estate people because they're giving this argument and you got to give them credit.
So on page 17, if you want to go to it, housing shortage fuels price bidding wars at homes for sale hits record low.
Housing shortage fuels bidding wars as homes for sale hit record low.
U.S. housing market faces a record low inventory of homes for sale with 1.4 million available homes in May, sparking intense bidding wars, red fin attributes, the shortage to homeowners feeling trapped by rising mortgage rates, resulting in 7.1% year-over-year decrease in home inventory.
In May, 37% of homes sold above listing prices, raising concerns about escalating bidding wars.
New home construction reached a three-decade high, driven by the motivation of builders to meet demand amid low existing home inventory.
And then at the same time, U.S. housing starts surge most since 2016.
Talking about what's happening there in May, all of a sudden, the largest margin since 2016 with a 21.7% jump to a $1.63 million annualized rate.
Surprising all-economist projection, single-family home building also rose by 18.5% to reach an 11-month high.
When you see these numbers, what is this telling you?
So there's an interesting puzzle to break in here, but it'll make perfect sense with a few simple points.
Point number one, when they say 37% of homes sold above lifting prices, they don't tell you that that was the fewest number of homes sold in four years.
So 37% of the fewest homes sold.
So there's actually not a lot of sales going on for one simple reason.
Vinny, if you had a 3% mortgage and you say, wow, maybe I'll sell my home and make $300,000 on it versus what I bought, then what?
Then what do you do?
You have to go get a 7% mortgage on your new house or a high rent or lease price if you want to do something in the interim.
You're not going to do that.
What are you going to do?
Stay in your 3% mortgage home.
You're also going to delay retirement moving to Florida, Arizona, or Palm Springs, and you're going to keep your home for, you know, maybe we'll just wait a year before we downsize and move.
That's happening.
So the first thing has happened, there's not enough houses on the market.
So when there's few homes on the market, it's a shortage and prices go up.
Now then, you've got 7% interest rates, but prices are up.
So the home builders are saying, no, wait a minute.
Inflation makes labor up to build a house.
It makes materials up, build a house.
But if Pat and I had a house building company, we would say, hey, Pat, prices are at an all-time high, and the Fed's not lowering rates probably for a couple of years.
Pat, we could start houses right now because there's profit to be made because we're not going to be selling them at low prices.
We're going to be selling them at high prices.
Pat says, you know, Tom, you're right.
Let's see if you can get permits and open up another home to homes and a little development to build.
So the home builders are seeing high prices as an opportunity to build and make profits.
At the same time, many people are staying in their homes, not selling them.
So there's a variety of headlines going around in there, but the moral of the story at the end of the road is the housing market is constrained, but builders see an opportunity to make a buck.
Can you pull up this link?
This is Jerome Powell.
He's talking about the interest rates.
And one of the folks from Fox Business, go to 37 minutes and 10 seconds if you can.
Ask him a great question, Tom.
And you have to see how he responds because, right, they're perfect.
I want you to watch this.
If you can, there you go.
Watch this real quick with the question that's being asked of him.
Thank you for taking the question, Mr. Chairman.
Edward Lawrence with Fox Business.
Watch this.
So I want to go back to comments you made about in the past about unsustainable fiscal path.
The CBO projects the federal deficit to be 2.8 trillion in 10 years.
The CBO also says that federal debt will be $52 trillion by 2033.
At what point do you talk more firmly with lawmakers about fiscal responsibility?
Because I'm assuming monetary policy cannot handle alone the inflation or keep that inflation in check with the higher level of spending.
I don't do that.
It's really not my job.
We hope and expect that other policymakers will respect our independence on monetary policy.
And we don't see ourselves as the judges of appropriate fiscal policy.
I will say, and many of my predecessors have said, that we are on an unsustainable fiscal path and that needs to be addressed over time.
But I think trying to get into that with lawmakers would be kind of inappropriate given our independence and our need to stick to our knitting.
You can pause it right there.
By the way, what an answer.
He's right.
But you know what he's asking them?
He's asking them, all this work you're doing to lower inflation, but Congress keeps pumping out money into the economy.
It's as if you're no needed.
Like Congress is telling Powell, yeah, everybody says you're the most powerful man in America.
No, you're not.
We're the most powerful men and women in America, not you.
Power of the curse.
They can give you as much recognition as they want as long as we pump money into the economy.
The economy and the market's going to keep going up and it's going to be fine.
He's like, this is not healthy.
We keep delaying the pain that we got to go through.
Nope, let's go into debt.
Nope, let's go into that.
So as much as everybody is celebrating right now, this is going back.
By the way, to all the realtors and loan officers, congratulations to you.
But guess what?
We're going back to fake success again.
So this time around, to some of the folks that made a lot of money and had a lot of fake success, but didn't save it and you lost it all.
This time around, instead of jumping into that Rolls-Royce a little too early, wait three years.
If you can make the same amount of income three years in a row and you start having some investments that are paying you outside of just your refinance and houses you're selling, get tighter with your own investments.
I got friends that did it right.
They're not affected at all.
Matter of fact, they're doing great for themselves because they made the right investments.
They're okay.
But some of the guys that lived a fast life, they lost everything and they're in a bad situation.
Unfortunately, I've been through this when I was in my early 20s and I made the money and I was like, boom, this thing disappeared.
Wait a minute.
What was this all about?
You got to learn that lesson.
And last but not least, if there's more inventory, if there's less inventory, that means they're not selling more.
Here's the other question, Tom.
The same loan that I'm getting, if values are going up, oh, that house was $400,000, now it's $700,000, $700,000, now $1 million.
Did my income also increase by 40%?
Has the median income in America increased?
Nope.
Is the average income, did we all of a sudden get a massive raise in our salary?
Are most people going to be able to afford these increases to buy those homes?
I don't think so.
So we're still, it's still going to be early on what to do with this.
I know you have some thoughts on the economy.
If you want to kind of go through your fear-greed index and kind of share with us your thoughts.
On that point, back-end ratios, you know what back-end ratios are when you're being evaluated for a loan, but a lot of banks had gone conservative down to 32.35.
And what we're reading now is banks are up to 40.
So we cover the fear-greed index from time to time, right?
Basically, be fearful when people are greedy, be greedy when people are fearful.
And we reference this, you know, once in a while.
Monthly, quarterly, what have you.
The last time I think we did this was maybe like two, three months ago.
I remember six months ago, it was extreme fear.
I don't check this every single day.
I don't check the market.
I used to, you know, red, green, red, green, red, green, red, green, and everything like that.
I checked it today.
No clue what to expect.
Did not know where the fear greed index would be.
Let's take a look at where it is today.
Boom.
Extreme greed.
79.
Actually, a week ago was, I think, 83.
Scroll down just a little bit.
Okay.
Keep going.
No, go back up.
All right.
Oh, I should say it on the right 30.
So one year ago, one year ago in the economy, extreme fear.
Okay.
People were paranoid.
Last year in 2022, the market, the SP 500, was down what, Tom?
18%.
Incredible.
Okay.
Down 18%.
Recession.
Two consecutive quarters of negative GDP growth.
Is it a recession?
How do you define a recession?
The White House has changed the definition.
They're moving the goalposts.
What's a recession?
I don't know.
The housing market.
What's going on right now?
Where'd my profits go?
But slowly but surely.
Chugga, U.S. economy bounce back, baby.
So right now, I think as of today, 2022, the SP 500 was down 18% for the first six months of the year.
I think we're up 15%.
We're closing in on all-time highs again.
I remember in 2020, do you guys remember this?
Stock market was approaching 30,000.
It's March 2020.
Boom, COVID hits.
Black Swan event.
You don't know what to expect.
Market tanks down 35%.
You know, you're in a group chat with all your friends.
He's like, yeah, I heard about this a couple of weeks ago.
I got out.
People are like, fuck you.
Why don't you tell me, buddy?
Like, now I got out of the market.
I pulled my cash out.
Boom.
Six months later, market's back and then some record highs.
Okay, so people are like, should I have taken it out?
Should I have not?
You know, they say it's not about timing the market.
It's about time in the market.
Play the long game.
I'm not a day trader.
I'm a decade trader.
That's how investing works.
You can't, I know so many day traders who claim they make millions, but I know so many who lose so much freaking money.
By the way, that's very good feedback you're giving.
You ain't lying.
If you're playing the long game, you're going to be fine.
If you're a day trader versus a decade trader, what a statement to say.
I'm not a day trader.
I'm a decade trader.
That's the best way to look at business, life, parenting, relationships, friendships, investment, portfolios.
So very good feedback there.
Thank you, sir.
And can I give one more thing?
Okay.
So, you know, the whole premise is buying the SP 500.
Just why buy individual stocks when you can buy the entire market, right?
Why be an active investor?
You can be a passive investor and basically just keep your money in the market and just don't look at it and just look at it 10 years later.
Holy shit.
I'm a millionaire.
That's what happened to me.
So, but you know, remember, Tom, what was it?
Fang, F-A-A-N-G, a handful of years ago.
That's everyone's obsessed with.
Fanga.
Yeah.
If you added one more, and that was what?
Facebook, Amazon, Apple, Netflix.
Nobody's using that N anymore.
Right.
And then Google.
And then what do they add to that?
There is Amazon and Apple.
And Amazon and Apple.
So now, not the acronym guy.
Now the new number is Aminent.
Okay.
Because there's seven stocks that are basically carrying the SP 500 these days.
These seven stocks make up 26% of the SP 500 total weight.
These seven stocks, which I'll give you right now, this aminent, Apple, Alphabet, Meta, aka Facebook, Microsoft, Amazon, and then the new darling of the last few years, Nvidia.
And then you got Tesla, which basically bounced back.
We all know what Elon Musk is doing.
107 on January.
So interesting to me, we just talked about in 2023 that in the last six months, the market's up 15% after last year's down 18%.
But if you eliminate, if you eliminate those seven stocks, right, from the overall numbers, the market would be down close to 1%.
So those seven stocks are basically carrying the market.
But this is why you need to buy the entire market because let's just use one case as an example.
I'm going to borrow your terminology, case example.
If you were shorting Meta, because Meta last year, they changed their name from Facebook to Meta.
Disaster.
Everyone thinks that they're going to be partying in the metaverse.
Hold on.
Let me buy some real assets.
Meta was down 64% in 2022.
64%.
People were calling for the death of Meta.
What are you doing with Mark Zuckerberg?
You freaking idiot.
Changing your name, Facebook to Meta.
What's Meta's stock price up this year?
98.5%.
Bounce back.
Facebook, Meta.
After laying off, how many?
Yeah, thousands of people.
How many?
Layoffs are profitable.
There you go.
So play the long game, my friends.
That's how you do it.
By the way, did you guys hear about what Twitter just did?
Did you hear the news about Twitter, Tom, or no?
This morning?
This is breaking?
This is the amount of employees now they have based on CNBC.
Rob, I think I may have even texted you this.
Type in there you go right there.
Click on that right there.
Twitter, Tom.
Look at this.
Tell me this isn't crazy.
Twitter is now down to fewer than 540.
What's the full-time engineers?
What?
Twitter.
So zoom in a little bit.
Internal records show that Twitter has shed about 80% of its employees since Elon Musk took over.
Wow.
Headcount is hovering 1,300 full-time employees today with fewer than 550 full-time engineers.
One former Twitter engineer says that the remaining team will be spread thin and will likely have a hard time maintaining the service while adding new features.
In addition to 1300 full-time employees, the new owner, CEO, Elon Musk, has authorized about 130 people from its other companies, including Tesla, SpaceX, and the Boring Company, to work for the social media business.
Wow.
Think about that.
When you create a unique culture, question came about on one of the masterminds we were doing this week.
A guy says, you know, matter of fact, no, it was actually a conversation I was having yesterday with a good friend.
A guy says, you know, what do you do in a situation like this when you're taking over a company and you're Elon?
Okay.
Do you fire everybody?
They don't like working for a guy like you where you're not letting people work from home.
You want people to be there every day.
You want people driving.
All of a sudden, like they see you as a dictator, Elon.
They don't see you as a, what's the word?
A understanding, compassionate, empathetic, you know, somebody who values lowering anxiety and all this stuff.
Listen, anxiety, if you are afraid of anxiety and mental issues you go through, don't join a startup and don't work for a founder.
Let me say that one more time.
If you're worried about your anxiety, never work for a founder, never be part of a startup.
Go work for a big company that nobody knows what the hell you're doing when you leave work.
If you leave Friday at 2:30, nobody knows at a big company.
At a small company, you leave work at 2:30.
Everybody knows when you leave at 2:30.
Some people don't like that, but you know what else is the benefit of working with a guy like Elon?
Here's what happens when you work with a guy like Elon.
Five, 10 years later, when there is a going public opportunity or an experience like that, and you're sitting there saying, Did you see how much money just did these people now were like regular people?
That's like a big check.
Yeah, but don't act like you were.
Yeah, so this is a great meeting where Paul.
Well, I'm going to give you my feedback about what's taking place here.
Nothing to say here.
But you have to.
You have to.
I asked Peter.
I said, Peter, you ever worked with a crazy founder before?
Not like this.
Have you seen something like this?
I'm like, well, that's what it's going to take.
So it's not for everybody, but good for Elon for driving it.
And I got to tell you, to me, when I see what's going on, yesterday, I didn't even posted a video with us talking to Mehdi Hassan and Mehdi Hassan.
What a sweetheart he is.
He responded.
Can you pull up the tweet with him responding?
He's such a sweet guy.
On the level of like, there's certain words I would say when I think about a guy like this.
And I want to Rob to show the guy tweets like, you know, he's tweeted 160,000 times, 150,000 times.
It's a lot of times.
He's written like 17 Bibles is what he's written just based on his tweets.
Okay, right there.
Zoom in right there on his response.
And I have no idea who you are.
But since you're asking and assuming, go actually read the book, especially the chapter on Gish galloping and then come back to me.
All may become clear to you.
Mehdi, I am enamored by your fame.
And I'm so amazed by how amazing and a famous person you are and more power to you.
Keep kicking ass with what you got going on there.
But the point is, when you're talking about all these things that we're doing here with the business, right?
When you're going through a certain market, these guys are still defending Peter Hotez.
Every day, Peter Hortense is tweeting 20 times, sharing articles of people saying why he shouldn't debate RFK.
So what do you think when somebody, if you go to Peter Hotez' Twitter profile, just go to his Twitter profile.
We've been talking about this guy a lot because by the way, Peter, I hope you say thanks to Joe Rogan because we're going to show the influence of Joe Rogan.
Check this out.
Look how many followers he's got.
How many followers does he have on Twitter?
What's the number?
455?
Write that down.
Can you write it down so we can remember?
455.1.
455.1.
Okay.
There we go.
Zoom in a little bit so we can see all the tweets.
Skip that one because that one he's selling COVID.
Keep going.
So keep, so he's keep going.
Every one of these tweets is about why he shouldn't debate anybody.
Keep going, Joe Rogan wants a scientist to debate a vaccine denier.
Turning him down was the right thing to do.
Vox.
Next one.
You know, thank you for Peter Hotez for sharing the new piece from Time magazine.
RFK is a peddling and extraordinary amount of disinformation about vaccines on a daily basis.
So what's the article, Peter?
Retweets.
RFK is dead wrong about vaccines.
Time magazine.
Right?
All right.
So pillar of knowledge there.
Yeah.
So now go to Social Blade, Rob, if you can do that.
Go to Social Blade.
Go to socialblade.com and then go to the top right where it says YouTube.
Change it to Twitter.
There you go.
And type in Peter Hotez, his name.
Okay.
This is called The Power of Joe Rogan.
No, no, you got to put him together.
You got to put him together.
Yeah, just put the name together.
There you go.
Like that.
Perfect.
So now watch this.
Look at this.
Go down.
Look how many followers he was getting.
Go lower, lower, slowly.
Go lower, lower, lower, lower.
He's not letting you.
Go lower.
Go lower.
Keep going, Lord.
Right there.
He was not getting any followers.
All of a sudden, Joe Rogans made him famous.
Wow.
Punch in a little bit.
Zoom in.
Yeah, Peter Hotez was not a household name as now.
7,400, 38,000, 55,000, 13,000, 3,900.
It's called the power of Joe Rogan.
Something all of these mainstream media people hate that a Joe Rogan has this kind of influence where he says one thing and the army shows up.
Who is this guy?
Yeah.
And by the way, he helps you find your audience because the people that don't like Joe Rogan say, oh my God, another person that doesn't like Joe, let me go follow him.
Hey, Dr. Peter Hotez, I'm your number one fan.
So, Dr. Hotez, next time you're in Austin, I don't know if Joe has time, but if you do, if you're in Austin, maybe go to his comedy club, have a laugh or two on the comedians he has there.
But what a sweetest thing is.
You think he's sending a Joe Rogan a Christmas card this Christmas after all?
Leave a nice thousand for the waitress.
He'll be talking about you.
Yeah, yeah.
Again, you're sitting here wondering who seems like the one that has courage.
The one that is questioning authority and the other one that is defending authority.
Folks, if you're listening to this, you're part of one of two camps.
You're questioning authority, that's forcing people to do certain things they didn't want to do, or you're defending authority.
Listen, I'm not telling you anything about law and order.
Of course, there's something called law and order, but some people that force certain things down people's throat.
Maybe we ought to question them to see if that was right.
And it's not like, Pat, like questioning the authority, like the authority hasn't been screwing us forever.
You got to be on the other side.
You know what this reminds me of?
When something like this happens, if you have the facts, look at history.
If you have the facts, you're running to the microphone to debate and you're fearless about it.
When people have the facts, they're after that microphone and they want to be heard.
When you don't have the facts, you get all your people to say, oh, tell them all the reasons why you shouldn't do it.
Tell them all the reasons why you shouldn't do it.
You know what it reminds me of, Pat?
It reminds me of a certain letter in Washington that had 50 signatures on it that said nothing to see here from the quote intelligence community and Joe Biden.
It's like, no, no, no, we don't want to talk about it.
We just want to look to a letter that says 50 people saying, nothing to see here, and I'll sign this letter.
That's what Otes is doing right now.
He is out there a coward.
Doctor, you are a coward.
And you are having all of your friends just basically embrace, promote, and project your cowardice.
You refuse to go out and you've got proxies out there saying, oh, don't do it.
To give yourself the line in the opening, not to do it.
If you had the facts, sir, and you could stand up to the heat of debate, sir, you would be in the arena.
You, sir, are a coward.
Vinny, tell people out there what it means when someone shouts, nothing to see here.
Yeah, like when you, and I'm pretty sure everybody in the audience has, when you go up to like, it's like something has happened and there's cop cars, maybe there's a fire, somebody was killed.
And whenever a cop goes, hey, move along, there's nothing to see here.
You know what that means, Tom?
There was a mob hit.
There's somebody famous around.
Yeah, there's definitely something to see there.
And Tom, I agree.
It's like you are the professional and you have people that aren't a professional in your field, an expert.
What are you so scared of?
It's the truth, bro.
And notice all those fact checkers, Tom?
We didn't have fact checkers until the truth really started coming out.
Now you have to check our fact.
Get out of here, bro.
They're all full of crap.
Nothing to see here.
Nothing to see here.
Tom, that was an interesting response you had there for our friends over there.
But okay, so let's go to the next story here.
BlackRock and JP Morgan helped to set up Ukraine Reconstruction Bank.
This is a Financial Times story on page 15.
Tom, I'm going to come to you again today.
It's kind of like economy, economy, economy.
We haven't had this for a minute.
BlackRock and J.P. Morgan Chase are collaborating with the Ukrainian government to establish the Ukraine Development Fund, a reconstruction bank aimed to attract private investment for rebuilding projects after the conflict with Russia.
The World Bank estimates that Ukraine would require $411 billion for reconstruction, a figure that has increased due to recent Russian attacks.
The fund aims to raise low-cost capital from governments, donors, and international financial institutions and leverage it to attract significant private investment, aiming for a ratio of 10 to 30 times the initial capital.
The Development Finance Bank will identify investment opportunity in sectors like infrastructure, climate, and agriculture to make them appealing to long-term investors.
What is this really all about, Tom?
Are we tied to this as taxpayers, or is this purely BlackRock and JP Morgan's money?
No, no.
What BlackRock and JP Morgan are going to start with?
So they're basically raising a fund.
The fund will be private investment and institutions, governments, donors.
So when it says governments, that means taxpayers.
So all this money, they're raising a fund.
We're going to put money in a barrel.
What are we going to do?
We're telling you that we can give you, what did they just say?
Up to 30X, Pat?
30X?
How many people come and talk to us about value chain investment group investments?
And we're talking 2x, 5x on like startups over the first five years.
They're talking 30X.
Translation, the banks of the world are coming together because they feel there's going to be a feeding frenzy to rebuild Ukraine.
Because we know Ukraine's important.
They're the breadbasket of Europe, farming and manufacturing.
They're very important.
And once the smoke clears, no metaphor there, if the smoke of war clears, this thing's going to need to get rebuilt.
And these banks are coming in to build the fund, and some of it's going to be on taxpayers who go do it.
And if any of this fails, if a war restarts or it trips and stumbles, you know who's going to be the backstop for this?
Taxpayers.
Because federal governments and the UN are going to come right back in.
If you think the bailout of banks, regional banks on commercial real estate was bad in America, wait till you see the bailout of a country.
So that's what's going on here.
They are stepping in.
And you know what?
We've seen it before in history, folks.
We've seen it before.
It wasn't a bank, but it was Halliburton that got all those contracts for power stations, sewage treatment plants, a big infrastructure that makes cities go.
Roads, power, power transport, transmission lines, communications, and power plants.
Remember all the contracts that Halliburton got?
And people are saying, this is cronyism.
Dick Cheney made sure all of his friends at How Burton got that.
Remember all those headlines?
Remember what's going on?
Let me tell you, this is what's going on, but it's just the banking sign that says, hey, hey, hang, hang on, hang on.
BlackRock, JP Morgan, head of the line.
We will make the loans.
You need a loan for a power plant?
Vinny, come on in here.
We have a fund here.
What's the interest on it?
Well, we're going to make 30X on you for the investors.
That's what's going on, folks.
This is, look, Ukraine needs to be rebuilt, but this is, we've seen it before with Halliburton.
There's some favored players that are going to come in here and get it done.
That's what's going on.
And, bro, James O'Keefe yesterday, Pat, this is on page 10.
He dropped a bombshell video that one of the recruiters at BlackRock, Serge Varlay, you know what he said?
He goes, war is real fucking good.
Sorry for my French.
Good for business.
Volatility creates opportunity to make profit.
It's exciting.
And he also said for 10 grand, you can buy a senator.
It doesn't matter who wins.
They're in my pocket.
And he said, this is the best one.
Buying politicians to the global market.
He says, it's not who is the president.
It's who's controlling the wallet of the president.
This is somebody at BlackRock caught on camera.
It's not even hiding.
Pat just said it.
You just said it a few minutes ago.
We control the dollars, right?
The Fed controls the rates and things like this, but it's the government that keeps spending, pumping money in there with all the spending.
We control it.
Pat, when you were saying we, you met the House of Representatives of the U.S. Congress, right?
The drunk sailors currently spending our future.
And speaking of this $10,000 will get you a senator in your pocket right there, speaking of lining your pockets, $10,000 to BlackRock.
Okay, you're talking about a group, a bank, a conglomerate with AUM assets under management.
Close to $10 trillion.
Is it $11?
$11.
Fact check.
That's what we got, PBD here.
And then right behind that.
11 trillion.
And right behind that, you check it.
Right behind that, you got Vanguard, what, $7.5 trillion?
$10 trillion.
And then Stage Street, what, close to $3.5 trillion?
So collectively, these three, what do you call them, asset managers?
What do you call them?
Banks, whatever?
Hedge funds.
What do you call them?
What do you call these?
Just massive conglomerates.
It's the asset managers.
Yeah, it's asset managers, which is a combination of hedge funds and PE.
And it's just stacks and stacks and stacks and stacks of these guys.
If you add this all up, you got 11, you got 7, you got 3.5.
You're talking about over $21 trillion.
These three asset managers are close to the GDP of the entire United States and above China.
So what's the GDP of the United States right now?
22 trillion, 25 trillion.
What is it at this point?
So China's in the high double digits in 18 trillion, whatever the number is, it's freaking trillions at this point.
But that's how powerful BlackRock is.
So for them to cut 10 grand to buy a little senator or whatever, whatever, it's nothing.
It's nothing.
It just means how cheap those guys are, but they got a lot of influence, man.
These companies have a lot of influence and power right now, and they're pushing their weight.
They're not slowing down at all.
Let's see here with the story of Disney.
Disney Elemental, which features non-binary characters, flops in opening weekend.
Let's look at the numbers.
Disney, man, they're just going after flops after flops after flops right now.
So Pixar's film Elemental, featuring the studio's first non-binary character, earned only $29.5 million on its opening weekend, marking the lowest opening ever for Pixar.
The film's underperformance added to Disney's recent string of controversial decisions in the entertainment industry, including a subscriber loss on Disney Plus and the elimination of 75 positions at Pixar Studios.
The inclusion of elements like critical race theory and shows such as Proud Family, Louder and Prouder, not louder and crowded, but louder and proud.
Sparked controversy.
See, Pixar's previous film, Lightyear, also faced difficulties at the box office.
Some attributed the poor reception to the depiction of same-sex relationships, suggesting that the audience may have been asked too much.
Tom, is America kind of getting sick of this, or are we still at a point of tolerance?
Hey, let's be tolerant with these movies and cartoons.
I think America is on the.
I'm going to give a summary here, and this may get me shot at, but this is the summary I see.
I look around America and I see people working with straight people, gay people, all kinds of folks at their offices and civic groups, PTA at their school.
And they're trying to live in harmony.
And there's people that have wanted marriage rights for a long time.
John Roberts' decision, Supreme Court gave them that.
And then along comes this whole trans thing, which really is devolved into the Bud Light saga, the Target saga, school boards, things we're teaching kids.
And there are gay couples that are right there protesting the same thing because they don't want their kids taught young.
And I think all of that is coming together saying, damn it, we've had about enough of this.
And there was no picket lines for Disney Elemental.
You know what it was?
Nobody took their kids to see it.
Nobody reached into their pocket to pay, you know, the $20 a ticket for the 3D version of it with the glasses.
And they said, I've had enough of it.
And they said, I've had enough of Bud Light.
And I said, I have enough of Disney's Elemental.
I live in a diverse world.
Stop trying to take an ultra minority of that and get crazy.
And I really think that the tide is turning.
And there's also core, you know, lesbian and gay couples that are also tired of it, who also want to bring their kids up certain ways and also don't like the portrayal.
I think it's, and that's, that's my point.
I'll tell you, one of the best managers I ever had, you know, in my court, in the corporate part of my life, one of the best managers I had, you know, was gay.
And it didn't matter.
He was a great guy and a great leader.
And he and he drove in my court.
I'm talking about my corporate existence, you know, and there was nothing there.
And the fact that he was gay or not gay didn't matter.
And I think America lives in that.
It's like if you're gay or not gay, it doesn't matter.
But all the wokeism and all the stuff around trans and what's going on, Bud Light and now Disney and others, I think more than just straight America is fed up with it.
But Tom, but from what we're seeing, though, because you went through the list with Bud Light and sports and this and all that, it's like they're not stopping, though.
You know what I mean?
They're still being relentless.
They're not seeing the picture.
Do you think that, like, what is the ultimate goal of this push of just this little, little minority group?
Like, what's the end game?
I think you have a lot of corporate PR people and CEOs that are wimps.
And why can't you walk to the microphone that says, there's been gay people working at our company for 50 years?
You know, we've got equal medical programs.
We've got, you know, spousal arrangements.
We have all these things that we've done for regardless of who you are, just come take a job and do a good job.
And where is that CEO?
And where are those PR people saying, time out?
You know, we've recognized these things that work among us.
Why do we have to take this other step?
Why do we have to have tuck-friendly kid swimsuits for age five?
Are you kidding me?
That's over the waterfall.
That's where it is.
And I think that there's got to be bull.
And by the way, Texas Rangers.
Texas Rangers have said baseball is for everybody.
We have everybody in our audience.
And we feel no need to have a special celebration of anything that may or may not be on the fringe.
Everybody's here watching Texas Rangers and everybody's welcome to be here.
Where's that voice in the rest of America?
Because the rest of America is going to say, hey, that sounds like common sense.
And I think common sense is going to make a comeback and it's been drowned out this year by these fringes.
Yep.
And it's funny that the people aren't saying anything, but they're showing it with their money and they're not showing up to all these, you know what I mean?
All the events, all the movies and everything.
It's like the silent, the silent majority is happening with the money.
So good from.
And hear me now, hear me clearly.
I'm not against anybody.
You are who you are in a nation where the laws and the freedoms are to be that.
But when you step over the edge and you get in the face of people's kids and you want to train their kids while they're at school and they're underage, you're no longer about personal freedom to be who you are.
You're diving down in the lives of their kids.
And guess what?
You're pissing America off.
Yeah, you were about to sound like the reverend from back in the days.
We're not against rap, but we're not against rappers, but we are against those thugs.
Thugs, thugs, thugs.
By the way, I want to show you this.
Brandon showed me this yesterday.
This is a Gallup report that just came in.
Fewer in the U.S. say same-sex relations are morally acceptable.
Interesting.
This is the first time it's gone down.
Tom, take a look at this.
64% down from 71% say same-sex relations are morally acceptable.
Slightly more, 60% than last year say death penalty is morally okay.
Birth control, divorce, still most widely viewed as morally acceptable.
And by the way, this is Gallup.
This is not Fox.
This is not CNN.
This is purely Gallup.
If you want to go a little lower to see the moral issues on where we're at on how people are looking at this, 22 to 23, birth control change is what?
Minus 4%.
Divorce, minus 3%.
Sex between unmarried men and women, minus 4%.
Having a baby outside of marriage, unchanged.
Gambling, minus 2%.
Gay or lesbian relations, the biggest one.
Minus 7%.
People are like, yeah, I don't know if that's morally acceptable.
That's Gallup that's saying this.
Medical research using stem cells unchanged.
Can you zoom in a little bit?
Death penalty went up.
People are supporting death penalty.
That went up.
Buying and wearing clothes made of animal fur.
Oh, that's going to be upsetting certain people here.
0%.
Doctor-assisted suicide.
Wow, I didn't know Hillary was a doctor.
Abortion, unchanged.
Medical, by the way, it's interesting that abortion is unchanged.
52.52.
Medical testing on animals, minus 4.
Sex between teenagers, minus 3.
Pornography, minus 2.
Minus 4.
By the way, it's as if America became more conservative in the last 10 years.
It's right.
What are the numbers that have the greatest increase or decrease?
If you can scroll back up.
It's gay.
It's gay or lesbian, minus seven.
That's the five.
There is nothing that's a greater change than that.
Nothing.
Of being morally acceptable.
Of not being morally acceptable.
They're not open to it.
They're less open to it than they were a year ago.
This is America.
But they went up in the death penalty.
Yeah, they want to kill people.
What was the top of the article called right there?
American Opinion of Moral Issues.
Oh, there was another article that he, that I think the top of the article he recently, about so with this whole moral stance.
How do you process this?
I'm curious.
When you hear this, how do you process this?
I happen to believe that when you have an overamplification of anything in society, what happens is people will be pushed.
People are pushed back into the corner of their core belief.
And I think what we're seeing here is lawlessness from what happened with the BLM riots.
It's not about the point of rights and racial equality in this country.
It was how it was executed, how it was pushed back, defund the police, makes people feel insecure.
I think when you take all those out and you push them, what happens is it's a purification process of what their core beliefs are.
And it doesn't surprise me the survey would go up.
I'd like to see the survey from right now to two years from now after a new president and when people have had time to think about a little bit.
I'd love to see that.
To see, did it push back a little bit and then they kind of come back to where they were?
You know what it is?
I think this could be called the tolerance index.
You know how we have the greed of it needs to be called the tolerance index because this is kind of how tolerance works.
Which religion is the most tolerant religion?
Christianity.
Christianity is the most tolerant religion.
I mean, you can put Christianity.
Judaism is pretty tolerant.
I would say Judaism and Christianity is, but I would say, God forbid you say something about, you know, a Jewish, what do you say?
Wow, you know, when you think about Jews and their money and their disaster, you could actually get gangsters.
Oh, yeah.
You cannot say it about Christianity.
You can say whatever you want about Christianity.
You can say whatever you want about Christianity, right?
So to say the most tolerant religion is who?
Christianity.
I think so.
So the gays have to thank Christians for being the most tolerant because the Christians are sitting there saying, hey, as long as you're doing your own thing.
Gay community, LGBT cannot thank the Muslim community because the Muslim community is not going to be like, hey, man, you want to come out of here for us to do XYZ?
No, it's not going to happen.
Live your life privately.
Do whatever you want.
It's not going to be a public thing that we're going to create a pride month for you and we're going to recognize you.
I think Americans are kind of sitting there saying, well, you know what?
This tolerance things, maybe there's a limit for it.
And you cross the line.
We were tolerant with you.
Now you're abusive.
And now you're disrespecting us.
Now you're insulting us.
And we're going to pump the brakes right here.
That index could be called the tolerance index.
Pat, do you think, how much do you think is the trans, well, like Tom was talking about, the trans movement is affected at minus seven where people are just like, listen, we were totally cool.
Everybody was chilling.
Now this one little mic, it's like, it's like having that drunk uncle.
The trans movement is like having that drunk uncle that shows up to the barbecue.
You're like, we were having fun.
Now you're taking your pants off.
You're jumping in the pool.
You're causing a fight.
How much do you think that that is reflecting in that minus?
A massive, massive, massive amount.
I don't know anybody that has a problem with gay people.
Never.
Who gives paying pitch?
Like nobody's, it's been decades since that's even been an issue in this country.
The T's.
It's resolved, too.
Team Roberts' decision resolved.
The T stuff.
The T's aren't messing it off.
And the kids stuff.
Yeah.
The drag stuff.
Yeah.
The grooming stuff.
Yeah.
Correct.
All of a sudden it's like, I don't know about all this stuff.
It's not just awareness of the trans.
That's not awareness of a self-identifying group.
It's not what it is.
It's when they've crossed over into the family, into private into education, indoctrination, and conformity.
Gotcha.
And everybody else is saying, wait, Get off my lawn.
Yeah.
And I hate how they turn it to, like, us talking like this, this right now.
People are like, they're transphobic.
No, I'm not phobic.
I'm not afraid of like, like, it's like arachnophobic.
I'm not scared of you.
Nobody's scared of shit.
It's just, listen, we feel you.
You're going through some mental stuff.
And I hope that you can get better and everything.
But pushing it down our throats, pushing it down our kids' throats.
And then, like I said, doing all those shows where you're just butt naked in front of kids.
How is that furthering your phobic means fear, right?
Yeah, I'm not scared of anything.
Yeah.
I am not transphobic.
I am not afraid of you.
You want to meet at the school board and you want to try to force education on kids.
There are people that are not transphobic.
They are not afraid of you.
And they will meet you on the steps of the courthouse and they will hit you in the mouth to show they are not afraid of you.
Yeah, exactly.
It's not about being transphobic.
It's like, it's like trans.
Hey, I've always felt this way.
And so I cross-dress and this is what it is.
And I'm trans.
Okay.
There's that.
But then, and I think I should go to the school board and I think there should be books.
It should be this and this and this and this.
It's like, wait, wait, wait.
We just went from you identifying yourself as trans and some things here to now crossing over and you want to indoctrinate Nate my kids.
Wait, There's the line.
That's the line.
And that's what's going on.
And, you know, that's where they want to say, oh, you're transphobic.
No, they're not transphobic.
They're pissed off at you.
There's a big difference.
That's you.
You know, MLK famously said, don't judge me by the color of my skin, by the content of my character.
My question is.
Like, I don't ever introduce myself and be like, hey, Pat, I'm a heterosexual man.
I like having sex with women.
My preferred positions are dog style.
That's never my lead story.
Okay.
But I grew up Jewish in Miami.
I was an athlete in high school.
Nobody does that.
It's not how it works.
But they throw that out first of like, this is how I sexually identify.
This is what my sexual proclivity is.
And this is how you need to accept me.
It's like, bro, I just want you to get the job done.
And it's like, that's the lead story.
And nobody cares.
I'm going to tell you, though, you did that so naturally.
I wonder if that's how you flirt with girls at bars.
Hey, Mary, I'm Andy.
Adam this.
I'm straight.
I'm the header.
I'm going to prefer this.
Are you open to leaving the club right now or the bar right now?
That seemed a little too natural.
It's like a script.
Listen.
Practice makes perfect.
My name is Adam.
16% of the men in this bar are straight.
I'm one of them.
Wow.
I like that.
Wow.
By the way, can you imagine if a shirt started trending?
It says, I'm straight.
If you just started selling a shirt, it says, I'm straight.
Oh, my God.
And people are looking at it.
Me too.
You too.
Me too.
No, that's great.
It becomes like a secret club.
Hashtag, I'm straight.
Or like Pride Month, Pat.
It's American Straight Day.
Like, hey, guys, I'm sorry, but you know what?
I like women.
It's interesting that we're having this conversation on Pride Month.
Have you seen what Elon Musk has been slowly dripping out there with the flag?
What are you doing?
The LGBT flag.
That was hilarious.
They'll be like, oh, I'm sorry, but what country is this flag from?
Where did it come from?
Where are these people from?
Like, Elon Musk is slowly a red pill.
I don't know if he's a troll.
He's a troll.
But he is not a fan of the rainbow mafia, trans.
For sure.
What do you think it is?
We've been studying Elon.
Adam, why do you think he's doing this?
I think, you know, common sense prevails and it's just becoming complete overreach.
And, you know, how many people from that community, from the far, far left of that community, have been calling for his head.
There's so many people that hate Elon Musk now.
Oh, my God.
Because he is an entrepreneur.
He's made his billions.
He's a capitalist.
He's a defender of free speech.
And, you know, he's an easy target and he's not falling in line and he's a free thinker.
And it's interesting to see the pushback that he's getting right there, but he's a very, very necessary voice in the world.
Dude, he put his money where his mouth is so we can have our speech.
And I respect the hell out of it.
Adam, you just traveled.
You were in Romania, then you went to Israel.
I don't want to get yelled at for mentioning your vacation plans, but it's like you went around and you were at some places there.
What did you see out there when you compare what's happening in American cities with woke demonstrations, things that are going on compared to where just last week you were?
Yeah.
Well, it was actually pretty interesting because I was in Jerusalem, one of the most holiest places on the planet.
And you just want to talk traditional, conservative, holy, religious cities.
I didn't see one pride flag in Jerusalem.
But in Tel Aviv, my friend.
Forget it.
Oh, man, it was everywhere.
Really?
Everywhere.
In Tel Aviv.
Tel Aviv.
Very liberal city.
Tel Aviv is a big party.
Tel Aviv is South Beach, partying, going out, beach, nightlife.
And they just had their pride.
I mean, they're a very proud country.
I mean, most countries are proud.
There's a lot of Israeli flags.
Star of David.
Of course.
When I tell you there were more pride flags in Tel Aviv than there were their nation's flag, I was shocked.
Like, you want to have a pride flag?
That's cool.
But to have it everywhere was quite shocking.
Did you see that?
Was anybody feeling like, let's say I am?
Like, Shabbat, Shalom.
Did you get any of those guys?
I don't even know.
I think I'm sweating.
Attention editors.
That's an emergency short clip.
Oh, my God.
Adam, oh my God.
Hold on.
Were there like yarmulcas with like the flag and stuff on them?
I mean, they were, it was recently just flags.
They were everywhere.
I saw one sign.
I saw one sign that says, well, you know, shout out to you for your pride, but you can take a straight person for your existence, straight pride.
Oh, it's pretty good.
Listen, I think nobody, again, it sounds like we're gay bashing.
It's not gay bashing.
Oh, we can't make fun of it.
I make fun of everybody.
As a comedian, as a former comedian, you know, it's not racist if you make fun of everybody.
If you can get it and you can get it, and you can get it, you can get it.
I'll make fun of Jews and Muslims and Christians and gays and blacks and white Asians.
It's like you guys can get it too.
If you actually want to be accepted, you got to take the good with the bad.
100%.
You should see Pat, just the trans sketch we did where it's on Valutamic Comedy, where I'm trans everything.
I'm trans late.
I'm transparent.
It's a comic sketch.
In the comments, some guys like, this is disgusting.
And I, well, I never really respond.
I went into it.
I go, who, what, you think your little group is off limits?
I go, I make fun of myself, Middle Easterns, black, white, tall, short, gay.
I don't care.
Your group, you ain't off limits, dog.
I'm going after you too.
It's not, it's in good taste.
I'm not saying any people hurt them or doing this, but it's like, bro, you're not off limits.
And I will make fun of your ass.
So nobody should be off limits.
There you go.
Well, heterosexuals stopping extinction for 5,000 years.
It's just like, you got to be able to use a sense of humor.
So, like, there's a lot of people right now.
Let's just pick on me and the Jews for a second.
I can't believe Vinny, who's not Jewish, just made fun of Adam Shabasha.
He made fun of the gay community and the Jewish community and the gay Jewish community all in one.
And as a Jew, I'm like, that's actually fucking hilarious.
If the Jewish guy's laughing, stop being so butthurt.
And speaking of butthurt, all right, let's go to the next one here.
We need to channel everything.
Hang on.
All right.
So we got their role isn't to educate society.
Kevin O'Leary just ripped Mark Cuban's claim that going woke is good for business, warns that you risk alienating 50% of your customers.
So these are two, you know, two of the guys, probably the main guys on the great Shark Tank show that's out there duking it out.
Let me go to the store here.
So here we go.
Mark Cuban believes embracing woke ideology is good for business.
But Kevin O'Leary disagrees, stating when you get involved in partisan issues, you basically lose 50% of your constituency.
Why you would do that when you're a consumer goods or service company, everybody is learning makes absolutely no sense.
O'Leary emphasizes that the role of a corporation is to serve its customers, employees, and shareholders, and not to educate society on social issues.
He states their role is not to educate society on the social issue of the day.
Companies like Anheuser-Busch, InBEF, and Target have faced negative consequences for allegedly going woke.
O'Leary points out when you lose $9, $10, $11, $12 billion of market cap, you know that you've offended somebody and that person is your customer.
That's bad business, really bad business.
Well, first of all, Kevin O'Leary comes up out from under the rock after FTX that he's been sitting on.
Oh, yeah.
Oh, yeah.
It's a heavy rock.
And then it's like, hey, something to talk about that's not three letters.
I think there's some truth to what Kevin O'Leary is saying.
Kevin O'Leary is saying, hey, you look at, it's kind of what I just said.
There are a number of people that like our products.
We're not going to be for or against any one of them.
Please enjoy.
And I think Kevin O'Leary is absolutely correct.
And I think he points out if you're upsetting a customer, what are you doing?
Now, that's different from if you're, we just saw a thing about fur coats.
You're making fur coats and the animal activists aren't going to be happy with you, or you're tobacco, and no one's happy about the addictive that vape is so addictive.
And now you're getting teenagers involved.
This isn't that.
This is Kevin O'Leary saying, hey, if these are your customers, why would you upset any of your customers?
Forget that this is about woke.
That's the question O'Leary is asking.
Why would you upset any of your customers?
And I think he's dead right.
But here's my thing.
Sorry, Adam.
What is up with Mark Cuban?
Is he that left Pat where he's like, vaccine and everybody get this?
And he's getting involved and he's all this woke.
Like, what is his deal?
What is up with this guy?
No, no, no.
Mark Cuban, don't let him fool you.
He's one of the sharpest cats out there.
He knows exactly what he's doing, who he's supporting.
He's the type of guy that he is a sequencing guy.
Like he knows, I'm going to support this guy because I'm going to get this guy and I'm going to defend this guy and I'm going to be against.
He knows like the enemies he's chosen, you know, who he's defending, whose side he's a part of.
He's not a dummy.
Mark Cuban knows what he's doing.
So whether it's knowing the fact that if you don't go woke, what is the benefit of if he holds the Dallas Maps?
Can you go to the Dallas Maps valuation?
A big chunk of his net worth is with the MAPs.
He bought it, I think, for $240 million.
I believe his non-sports net worth pad I think is 1.1 to be exact.
$79 of his net worth.
So he's worth $5 billion.
His non-sport is $1.1.
Well, I mean, his non-sport is probably a little bit more than that, but the team is a $3.3 billion customer.
Check his net worth.
It might not even be $5 billion.
It's $5.1.
That's where it is.
Mark Cuban net worth.
I want to say it's $4.1 billion.
Yeah, $5.1 billion.
Okay.
So $5.1 billion net worth that Mark's got.
So what happens if all of a sudden NBA brokers a deal with China?
You know what happens to that $3.3 billion?
It's going up.
Did you see when the Denver Broncos were all of a sudden bought for whatever?
And do you remember who made everybody in the NBA rich?
Who's the most hated owner in the NBA that made everybody rich in the NBA?
What would you guys say?
Donald Sterling.
Donald Sterling.
When he sold it.
The L.A. Clippers for what did he sell?
$2.1 billion?
What was L.A. Clipper selling for?
$2 billion and change to the B-Bomber.
$2 billion.
I thought it was a little over $2 billion.
Okay, $2 billion.
There you go.
Okay, do me a favor.
Type, how much did Donald Sterling buy the Clippers for?
Because it was a San Diego Clippers when he bought it.
Yeah, it was like $75,000.
How much did Donald Sterling pay?
$85.
San Diego Clippers.
Yeah, it's okay.
$12.5 million.
Oh, my God.
The guy buys the Clippers for $12.5 million, sells it for $2 billion.
You know what X that is?
He had billions.
10X is $120 million.
100X is 1.25.
He sells it for nearly 180x of what he paid for it, right?
When Donald Sterling did that, everybody went like this.
I hate the guy, but damn, I love the guy.
You know, he just made me a billionaire, dog.
Okay.
So, the next crazy event like this that can get the NBA to be insane valuations is if they go into China.
And if, you know, if Adam Silver wants to be known as a commissioner like the great Robert Kraft that made all NFL owners billionaires, where NFL owners, like, you can fly private jet for the rest of your life and your great, great, great, great, grandkids.
We'll give you best health insurance for the rest of your life, your entire family.
You can go anywhere.
That's pretty much a deal he got plus 25 million a year.
I don't know what the deal was, 37 million a year or some salary.
He knows if he pisses off the wrong people, Mark Cuban, that sequencing of getting that contract in China.
Again, I'm speculating.
I don't know this for a fact.
This is purely opinions here.
But the guy's not a dummy.
He's choosing sides and he knows which side he's not a part of.
And for you to go and like be against a Musk or a Rogan, really?
Like, what do you mean?
Like, do you know who likes Musk?
Do you know who likes Rogan?
You know what kind of people like those two guys?
Your audience?
His people go to the gas.
Question authority.
It's people that are anti-establishment.
It's people that are ballsy.
It's people that can stand up for something.
It's people that are willing to say some stuff that is going to offend the doctors that you can't ever offend those people.
You're offending the people that are already protected and you're putting like this.
Yeah, that no one respects that.
People respect what the Rogans and the Musks are doing.
People respect those types of people.
And I don't know.
By the way, he's like I said, I would love to see Mark going to the presidential debate.
You know why I'd love to see that?
You know, I'd love to see that.
Because I'd love to see a true debate where he goes boom, on tennis shoes.
Not a debate where it's boom, boom.
And it's like, you move on.
A certain tweet, you call somebody out, you move on.
Yeah, you get quiet and off and hide.
And I will tell you, credit to Mark, Mark will have a debate with somebody on Twitter, and it'll be a 20-part debate.
So he's not somebody that backs off and moves on.
So I'd love to see the guy run.
I think he actually has a shot at becoming a president.
I think he has a shot at being a president as a Democratic Party.
Of course.
He won't run as a Republican.
He would run as Democrats.
Speaking of selling your NBA team, what Jordan just sold the Charlotte Hornets for $3 billion, something like that.
He bought it for $275 million.
Another one right there.
10 years ago.
And by the way, what you're saying with China and the NBA, it sounds far-fetched.
It's not, why would the NBA ever do something like that?
What do you mean?
We have a recent case example with the PGA and Live, right?
Two years ago, and never in a million years did we think that Saudi, the kingdom of Saudi Arabia, would own part of the PGA.
And we've seen this kind of play out and they've partnered up and they've done everything that.
But yeah, PGA Tor agrees to merge with Saudi-backed rival Live Golf.
And I think it was Greg Norman who basically, I think, led the charge from Saudi.
That's correct.
The Saudis recruited Greg to be their president.
So very interesting.
Just when you think, like, why would the NBA ever do it?
It's like, all right, well, we've got something here.
A little fun fact about the kingdom of Saudi Arabia.
You know, that we say that Russia is not a country.
It's just a gas station masquerading as a country, even more so in Saudi.
But the Prince, MBS, Mohamed Balsaman, I think he developed a plan a handful of years ago where basically said we're too reliant on oil.
And the way that we need to diversify our country's resources is to start buying sports teams and sports leagues and franchises.
And they've brought, I mean, what soccer teams, massive, I mean, if you look at Saudi Arabia, you know the story, Miami Messi, what did they try to do?
Exactly.
They think to buy them for like a billion bucks a year, whatever, something crazy.
Saudi Arabia has bought into soccer and golf.
Will the NBA and NFL be next?
They've had a mandate in Saudi Arabia, don't just be 100% reliant on what Saudi Aramco.
That's the third largest country uh company by market cap in the world.
You think you have uh Apple um, at number one, three trillion dollars.
I want to say uh, what's number two?
Help me out here Tom you're, this is like number two.
Forbes 400 yeah exactly, whatever.
But Saudi Aramco is number three.
I know they're worth two trillion dollars.
Or then some uh, it might be Microsoft, whatever.
Um, speaking of market cap yeah, but they're basically saying our entire country, our entire economy, is basically relying on Saudi or AMCO government-owned oil company.
And the way that they want to diversify their investment strategy is by sports teams galore.
That's how they end up buying live.
I mean, it's not going to be close to the kind of money they have, but but I get the fact that they diverse, they're diversifying and imposing their influence in different sports.
And yesterday I was looking at the, the comparison about um China and India.
Brandon Kelly and I were sitting there talking about China and India and uh, how China started taking uh uh foreign uh direct investments in 1990 and it skyrocketed them into where they are today.
India didn't start taking foreign investments until 2005 and so India is behind China around 10 years, like just 10 years ago, only 70 of uh Indians had full-on electricity.
China 100 had electricity.
Today, I think, India's at 98 or something like that.
They're at a higher number than they were before.
Of course, India's got a younger population than China by 12 years.
I think India is like 26, China is 38, but here they come.
But but but the one?
Yeah, they're definitely going to come and they're investing into education.
Uh, when it comes down to railways, they have more uh, because I think China is three times the size of India, but China only has twice the amount of railways as India does.
And ports wise, China's got way more than China, than India anyways.
But the point was them them allowing outside people to invest into their country.
Okay, China had the 51 rule, like if you're going to do anything in India, you know, in China you've got to control 51 of it 49, all that stuff.
They kind of have that process that they did uh, you know, and America's typically been protected.
Uh, so there is, there should be a little bit of threat when other people want to invest too much into your country because they're having influence over it as well.
So I don't know how people are going to feel about Saudi making those types of investments aggressively, you can't really prevent it.
It's not like it's a 51 number, but uh, that is something you ought to think about.
Long term, is it going to be a good thing or a bad thing?
So if, if 20 years from now, 50 of Nba teams are owned by Saudi owners, is that a good thing?
I don't know about that.
So these are things that that one has to consider.
Go ahead, Tom.
Yeah, you know.
What's interesting is you look through history.
Pat's making a great point.
In the 1990s, commercial real estate and residential real estate, um in California Hawaii, were being inundated by whose money?
This is what you're.
90s, late 80s, Japanese correct and Japanese were buying.
Japanese were buying very large things in America, like Manhattan soil.
Like they, I think, I believe Japanese, I may be wrong, but I thought a Japanese company still owns Rockefeller Center and all the stuff around it.
And actually, it's leased back to GE and NBC and all that became.
But everybody back then was like, oh my gosh, they're going to dominate World Semiconductor.
They're already, look what they're doing with, you know, Lexus and Acura and Nissan and Infiniti.
Here they come.
They're going to destroy our auto industry.
They're going to do this.
And they're an ally.
They're part of G7.
And everybody was freaked out by it.
But there's cycles that happen with the wealth of nations and their currencies being trading above other people.
And they overcooked it, which led to what they call the lost decade, where their economy crashed.
And if you read about Japan, you can read about the lost decade.
So there's cycles that go right now.
And right now we are in a Saudi cycle and the Saudi psych 90s.
I just think we have to be a little bit sports organized, not sports organizations, but leagues.
If there is already something in place where you can't, like a country, can you type something, Rob, to see what is the rules about international investors buying sports teams in America?
Is there a rule against that?
Like what they can and can't do?
Because Americans have been buying soccer, you know, Stan Cronke owns Manchester United, doesn't he?
The owner of that LA.
Look, as much money as we have in America, you don't have Saudi type of money.
There's not guys that have that kind of money.
Now, don't get me wrong.
Some people say, well, the richest guy is this guy or that guy or this guy.
We have money, but if Saudis using oil money to pick up $5 billion sports teams, what the hell is that to them?
Nothing.
Just chump chain.
Infinite oil below your feet is a crazy ATM.
Yeah, I can take $100 billion and buy $20.
I can buy $100 billion and buy $33, $3 billion teams.
I can literally buy $33, $3 billion teams.
That's pretty much the NBA.
That's the whole NBA.
Yeah, because some of the teams are worth $1.2 billion.
Some of them are worth $4.5 billion.
I can buy the entire NBA for $100 billion.
I read a joke, Pat, about $10.
You hear that?
Like, it's 30 teams.
That's crazy.
If each team is worth $3 billion on average, I can buy the entire NBA team, every one of them, for $100 billion.
Elon Musk could buy every single NBA team.
Oh, my God.
That's crazy to think about.
I'm not even having a question.
Yeah.
I mean, nuts.
I heard a joke made about the Saudis.
It says, it's not about dollars.
It's about days.
I said, what do you mean?
It says, well, I want to buy the Dallas Cowboys.
What is that?
$6 billion.
Okay, that's how many days do we pump?
It's basically there's talking about how many days.
The oil out of the ground.
That makes sense.
I can buy the every 21 days, I could buy the Dallas Cowboys.
Yep.
That's crazy.
Yep.
So would you say, Pat, that Saudi has the most out of every, they're just the richest?
I don't know.
I mean, some say Saudi, some say Putin's the richest guy in the world.
Some say certain, you know, certain people in China that low-key no one, like specifically Xi, not everybody, because people are leaving China.
Billionaires and millionaires are leaving China hardcore right now.
So what is that?
NFL rules prohibit foreign investments and franchises, but rules were made to be disregarded when sufficiently profitable to do so.
Tuesday, stunning news that the PGA, okay, so interesting.
So in the NFL, so yes, the public investment fund, the formal name of the sovereign wealth fund of Saudi Arabia, can get into the NFL if it wants.
And if it has to set up a competing league to light the fuse, so be it.
It worked in golf.
Why wouldn't it work in football?
Man, if these guys create a competing team and they go to guys like Joe Burrow and Josh Allen and say, we'll pay you $100 million a year to come be climb.
We'll give you a $10-year billion dollar contract.
They're all gone.
And next thing you know, they recruit the 50 best players in the NFL that go over there.
It's over.
That's a wrap.
Do you know what I would do?
What's that?
I'm going to say something here.
Watch this.
So let's.
I'm now Prince Thomas of Saudi Arabia.
Hi, Prince.
And I create an organization over here and I start doing NIL of everybody that's going to be the top draft picks, Pat.
And I start stealing your draft picks because what I do, I go into college and I can outbid you on NIL, which is exactly what they did with Phil Mickelson and with Bryson Chambeau and top-line golfers that they paid those incredible join fees.
Remember those?
Phil Nicholson was rumored to have gotten $500 million to join Liv.
So what if they go over here very legally and create a fund and go after NIL of NBA players and NFL players at the collegiate level?
Yeah.
And NIL, for those that don't remember, it's name, image, and likeness.
The new legal way to get sponsorship dollars to athletes.
What if they did high school athletes, the college athletes, which have been forbidden for forever?
But Tom, legally, that's saying that they can do that, right?
Prince Thomas, I could do that tomorrow morning if I had the money and completely disrupt.
I could have the top draft picks if I had a feeder system into a pro league.
This is giving me very coming to America vibes.
Like, he's a prince.
I mean, what if I say he's got his own money, baby?
He got his own money.
Well, I'm just outlining how easy it would be to do.
Could you see that happening, Pat?
I can.
They just did it in golf.
They just did it.
Everybody was hating.
I can't believe you're doing this.
I can't believe you're doing that.
Well, Liv and PG have decided to team up together.
What happened over there?
Phil Nicholson, you betrayed him.
For $500 million, I betrayed you.
By the way, you know, Greg Norman was a guy that was hated.
You know, Greg Norman had no idea this was happening.
This happened behind his back.
He had no clue when this was announced.
He says, I have no clue.
I was not a part of this.
No one told me this was happening.
I just heard the news myself.
Yeah, the top CEOs in their board, there were five people that got together.
They were trying to settle the suits, and they said, Well, one way to settle is maybe we just pump the money in the PGA and we own it.
Jay Monahan's like, that'd be really hypocritical of me.
You could be president, Jay, and we'll pay you $20 million.
But you know, I think it could be a we could figure it out.
That's hilarious.
And what's 20 million to these guys?
It's like minimum wage, 15 bucks an hour for them.
Okay.
All right.
By the way, once again, what is the most money that disappeared out of your hands, folks?
Like, like lost question.
Lost.
Has any have you ever overpaid on a check?
And by how much?
Okay.
Because here's what the Pentagon accountant just did.
Somebody needs to fight a Pentagon accountant.
Pentagon accounting error provides an extra $6.2 billion for Ukraine military aid.
This is an ABC story.
Okay, this is an ABC story.
So let's see what ABC has to say about this.
A little mistake.
I mean, it's just two professional teams.
His clerical air.
Here we go.
Pentagon has admitted to a $6.2 billion accounting gear and the value of weapons.
By the way, do you have the video rap of the lady saying it the way she just said it very casually?
I love it.
Sent to Ukraine over the past two years.
The mistake was due to using replacement costs instead of book value.
The surplus will be used for future security packages.
The surplus funds will be utilized to support Ukraine in its counteroffensive against Russia.
Ukraine air defense has successfully down 32 out of 35 Russian drones.
The U.S. has provided less than $34 billion in aid to Ukraine, contrary to previous estimates of $40 billion.
President Biden has pledged ongoing support, but concerns about costs and duration of the conflict persist.
The accounting mistake will not impact aid delivery.
Here's a lady if you want to play this clue.
Wow.
Following up from some announcements earlier this year, during the department's regular oversight of our execution of presidential drawdown authority for Ukraine, we discovered inconsistencies in equipment valuation for Ukraine.
In a significant number of cases, services use replacement costs rather than net book value, thereby overestimating the value of the equipment drawn down from U.S. stocks and provided to Ukraine.
Once we discovered this misvaluation, the comptroller reissued guidance on March 31st, clarifying how to value equipment in line with the financial management regulation and DOD policy to ensure we use the most accurate of accounting methods.
We have confirmed that for FY23, the final calculation is $3.6 billion, and for FY22, it is $2.6 billion for a combined total of $6.2 billion.
These valuation errors in no way limit or restricted the size of any of our PDAs or impacted the provision of support to Ukraine.
And while the DOD retains the authority to utilize the recaptured PDA, this has no bearing on appropriated USAI or Ukraine PDA replenishment funding approved by Congress.
Tom, and then people wonder why we are so much in debt.
We don't even know how to for those of you day traders.
Pick up an index on defense contractors because $6.2 billion is heading out the door to buy more stuff going to the Ukraine.
Yeah, that's insane, man.
How do they make a blunder like that?
How do you mess that up?
I was in first grade and they told me, always carry the one.
That is ridiculous.
Like, come on.
$6.2 billion.
Don't be so hard on those guys.
It's a mistake.
People make mistakes like that and they overpay on the bill.
That's a pretty big couch.
$6.2 billion hiding in the middle of the money.
Listen, it's going for a good cause.
We're going to give it to him in the future, anyways.
Yeah, so we might as well.
Listen, let's not judge perfection from our government employees.
Let's only expect perfection from us.
If we make mistakes like that, we could get fired and go to jail.
But if you make mistakes like that, the government should get a promotion.
It's like a it's you should recognize this type of behavior for people to want to make those mistakes.
I don't know.
I just think it's you know it's lawyers, guns, and money.
I'm actually warned, I'm actually happy that this happened.
Why?
For two reasons.
Number one, so we can talk about stuff like this.
It's like, hold on, this is what's happening, guys.
All right, question.
You know, I've said vocally, I think we should have some involvement in what's going on there, but there should be some limitations to the money aspect of it.
Okay.
And this is just one of those situations where it's like, all right, guys, you know, we support.
I get it.
You know, countries just can't invade countries.
We can't just sit along the sidelines and say nothing and do nothing.
But there does need to be some limitations to how much money we're going to be investing and funding this operation.
And here's a situation where we can point to and say, oh, say goodnight to the bad guy.
There's the bad guy.
Like, all right, what's going on here, guys?
Because, and they'll spin it.
They'll say, well, you know, we were actually planning on sending this in 30 days from now.
So now, 30 days from now, accounts receivable.
We'll just backtrack and we'll just deduct that from the accounting premise.
They'll spin it.
But there does need to be some limitations on how much we're spending here.
So this is not a freaking Afghanistan situation where we end up giving trillions and trillions and trillions of dollars and having nothing to show for it.
Well, you know what that $6.2 billion would have done just to help Americans just give like just to hand out some of that money or help some veterans or help some homeless.
$6.2 billion and it's just a whoops.
That's all that is is a whoops for almost for $6.2 billion, bro.
That's embarrassing.
And like you said, nothing's going to happen.
They're just like, hey, at least it's going to a good cause.
Every Thursday, thousands of stray dogs are put to death for $15 a month.
And they are.
But we are living in a time where a number that starts with a B isn't that big of a deal anymore.
Don't tell me unless it starts with a T, homie.
Not that kind of TV.
Not that T.
A trillion.
I'm not transforming.
Let's talk about it.
Let's talk about.
How did we go back to that?
That's not going to go away at this point.
So Mark Zuckerberg, Elon Musk.
Let's first talk about the master plan and we'll talk about the fight.
Yes.
And we're not going to talk about Elon Musk's Paroti account.
We can talk about his little account.
Mark Zuckerberg.
Mark Zuckerberg's master plan to kill off Twitter revealed.
Meta to launch rival character limited app condemned Project 92 in coming months.
This is tapping up, taping up Oprah Winfrey and the Dalai Lama to attract users.
Oh my God.
Wow.
Coming to a city near you type of stuff, right?
Mark is not happy with what's his name is getting.
Musk is getting and it's a little too much attention, but let's see what happens here.
We like competition.
This is America.
So Mark Zuckerberg is reportedly planning to launch a rival Twitter platform to go up against these guys, have expressed interest in joining the new platform, Dalai Lama and Oprah Winfrey, which aim to provide a trustworthy alternative to Twitter.
The new app, potentially named Threads, will resemble Twitter in terms of its continuous scroll to text and like and retweet functions.
It will also adopt a 500 character limit proposed.
Closer to Twitter original 180 character limit, Meta aims to create an app that prioritizes safety east of use and reliability.
Meta's Project 92 plans to integrate with Instagram's account systems and other decentralized platforms like Maston Dawn.
Tom, what do you know about this story here?
First of all, let's go into history.
Name one product that Mark has made billion-dollar market cap successful.
Facebook.
Facebook.
Instagram.
Oh wait, he bought it.
WhatsApp.
Oh, wait, he bought it.
Bought it.
Detect a trend here.
Facebook has not deployed anything except Meta in its, as it's known, has not deployed anything except Facebook in its original form plus the extension features that are on Facebook.
They haven't been successful.
META is a smoking crater of stock dividends that are unpaid.
It's a smoking crater.
It's it's become nothing.
And how many headlines do we see?
Hey Mark, when do you give up on that?
Haven't we seen these headlines?
It's a lot of money you're spending.
You keep spending.
Are you gonna back off this thing maybe, and go to dividends?
What he's trying to do here?
So META is gonna make a Facebook clone and get open the Dalai Lama to cause a big, you know, migration of people over there.
No no, no Twitter's at scale.
Twitter is refining itself.
Twitter is is doing the right things and Facebook has zero track record of building anything on its own successfully.
Exhibit a meta.
I mean when you say that way.
And the question becomes, how many people have tried to build a twitter right now?
And is there a climate for somebody to build a twitter against Elon Musk's twitter?
Are they going to be able to compete against Elon Musk twitter?
People don't realize that behind closed doors.
I wonder what other things Elan's building within twitter.
I'm sure they're about to launch an OTT.
I'm sure they're about to pay their talent very well.
I'm sure if a Tucker Carlson decided to put his show on Twitter, there's stuff that Tucker knows that we don't know about what future compensation structures are coming.
I'm not saying there's a side deal.
I'm not saying Elon is paying him, but I am saying there may be a little bit more intel that Tucker has to take his talent to Twitter than anywhere else.
Maybe because they're about to launch something.
Who knows?
But this is not a guy that's sitting on his laurels just like, hey, I'm going to be okay doing this.
I'm going to be doing that.
Now, here's the part: if you look at Musk, he's not in the best shape.
Okay?
No.
Because Musk has got so much time in the companies he's building.
I'm not saying he's in bad shape.
He's lost a lot of weight.
He's looking better, but he's not in best shape.
Now, Zuck is in incredible shape because he's not that focused on creating the next thing.
He's just buying stuff.
But he's got a lot of time practicing jiu-jitsu.
And he's actually looking really good, right?
And training and videos and all the stuff that's coming out.
So the story that's going that's a bit viral right now is Elon Musk and Mark Zuckerberg agree to hold cage fight.
And this is a BBC story.
And we know BBC tells the truth.
Always.
So here's a story from BBC about what's going on over there with BBC.
So tech billionaires Elon Musk and Mark Zuckerberg have agreed to a cage fight with Musk stating on Twitter, I'm up for a cage fight.
Zuckerberg responded by saying, send me location.
Musk proposed holding a fight in the octagon in Las Vegas, the arena used for UFC bouts.
He added humorously, I have this great move that I call the Walrus, where I just lie on top of my opponent and do nothing.
That is hilarious.
The exchange gained viral attention, sparking debates and memes among social media users in related news.
Meta, the parent company of Facebook and Instagram is reportedly developing a text-based social network to rival Twitter, potentially challenging Musk Twitter presence.
Let me ask you.
Good luck with that.
What are the chances of these guys doing a cage fight?
Give me the 0 to 100.
What's the chances?
I think it's Elon.
I think Elon would do it, and I don't think Zuckerberg would ever show up.
Something like that.
What do you mean?
Zuckerberg's the one that's training.
Dude, he just joined a tournament, Pat, where he wore a mask.
He bored the skies for the actual fight.
Let me ask you something, Hawk.
And his Pierre last time came out and said, no, no, he didn't concede.
He didn't concede.
When was the last time you actually saw Mark Zuckerberg not in front of Congress or doing some cyborg takeover of the future?
He does podcasts with Joe.
He does podcasts with Friedman.
Zuckerberg's done podcasts with Joe Rogan.
Zuckerberg's been on Rogan, and Zuckerberg's been on Relex twice.
I think Zuck is trying to rebrand himself.
He should.
One step at a time.
I think Zuck is trying to rebrand himself, and we'll see obviously what's going to happen there with these guys.
But I don't know if they're going to do it or not.
And quite frankly, I got to tell you, you know, I don't know if Musk should do it.
I think Zuck will do it if they fight.
Well, can I give you a little tale of the tape?
Here we go.
Real quick.
Yeah.
I'm just, you know, we were down at UFC on our courtesy of Joe Rogan.
Yeah.
Israel Autasania fight.
Trump walked in crazy, insane.
But just picture this.
All right.
Go with me for a second here, guys.
Bruce Buffer, right?
You know, that whole thing that he does.
Coming to the octagon.
The challenger.
Okay.
The man that owns Tesla, the man that owns Twitter, the man that owns SpaceX.
He's been out there weighing in at 200 pounds, standing six foot too tall, 52 years old, hailing from South Africa, now currently living on Mars.
225, maybe Elon, the what?
The Walrus.
Musk.
6'2, 200.
6'2, 200.
Knowing them, he would walk up with a Walrus.
100%.
Just like a kitchen sink.
How tall do you think Zuck is?
5'9?
5'9?
Yeah, 5'10.
Clocking in at 160 pounds with a height of 5'7.
Oh, yeah.
Look at this, man.
I don't know.
5'7 ⁇ , 39 years old, born and raised in a secret lab, cyborgs facility somewhere in the metaverse.
Guys, I don't know what you're saying.
I think this guy looks good.
We can say whatever we want.
Zuck is looking good to me.
I think those kicks are not easy.
Elon Musk is going to whoop his ass.
If Elon Lane's on top of him, he looks bigger when your opponent is 5'5.
Elon gets on top of him.
It's over.
No.
Elon Musk.
Anyway, you're underestimating the power of doing jiu-jitsu.
Listen, here's how this thing works.
Elon is running three freaking companies.
I'm not even naming the other smaller ones.
He's running boring company.
He's running SpaceX.
He's running Tesla.
He has a solar deal.
He's doing all this other stuff that he's doing.
And he's doing more interviews.
He's talking to people left and right.
He's doing media.
The guy probably sleeps four to six hours a night.
I think Zuck is probably sleeping eight hours per night.
Pat, you're missing the big point here.
He's just going to plug in a Neuralink, Bruce Lee chip, boom.
And all of a sudden, he's going to know every single karate move out there.
Psychometrix.
I don't know.
I'm an Elon Musk guy.
Maybe.
Maybe I'm just spiteful because Zuck took me down from Instagram.
You know what I'm going to be dope too?
By the way, shout out to Oscar from Evolve Digital for getting my Instagram.
Yeah.
Okay.
But maybe I'm just spiteful.
But I'm real hardcore.
Let's see.
Elon Musk.
Can we talk about the submarine situation here?
What's going on?
So, first of all, missing Titanic submarine updates, fears growth for Titan crew as oxygen supply runs out, but rescue bid continues.
This is a sun story from today.
The missing Titanic submarine named Titan is feared to have run out of oxygen, raising concerns for the crew's survival.
The vessel disappeared during a voyage to the Titanic shipwreck off the coast of Canada, approximately 435 miles south of St. John's, Newfoundland.
The Ocean Gate Expedition submersible measuring 6.7 meters, 22 feet long, carried a 96-hour oxygen supply on board with British billionaire adventurer Harnish Harding, UK-based businessman, Shahzada Dawood, and his son, Soleiman, Ocean Gate.
I was about to do Ocean Gate.
Ocean Gate CEO Stockton Rush and French suburb.
So what does it say?
Submersible pilot Paul Henry Nergola.
The international rescue offer effort has intensified in such a way where the RAF, USAF, dispatching a specialist ultra-deep submarine.
Anyways, they're trying to get to these guys, D8, but it's not succeeding.
The U.S. Coast Guard confirms the deployment of the French remotely operated vehicle Victor 6000 to aid the search.
They're gone.
What do you know about the story?
I know this, Pat, that their oxygen ran out.
And God, if they are, they off pass, God rest their soul, seven o'clock this morning, Eastern Standard Time.
That was it.
If it ran out.
No, that's all the time.
If they haven't surfaced, there's no more oxygen in that little thing.
And apparently, it was only big enough for one person to stretch out at a time.
The one thing that jumped out for me is Stockton Rush, the CEO of that company, operating the Titanic thing.
He goes, he didn't want to hire 50-year-old white guys.
And this goes back to all that people trying to be diverse and whatever.
He said, when I started this business, one of the things you'll find from other sub-operators out there is there typically are people who are ex-military submariners, and you'll see a whole bunch of 50-year-old white guys.
I wanted our team to be younger and inspirational.
He goes, I'm not going to inspire a 16-year-old to go pursue marine technology, but a 25-year-old sub-pilot or a platform operator will be one of those techs that can be inspirational.
And this is one of those things, Pat, when it comes to like, Adam, you know, United Airlines with the pilot.
Adam, I don't want to be like, you know what?
Just because of diversity requirements, I want this type of person or a female.
The best person at the job I want having.
And mind you, Pat, you know, they had a 35-year-old, like a $35 Xbox controller on this thing.
That's one thing.
Number two, you're a billionaire.
Do you just have nothing else to do?
What are two billionaires going in a little can and going to see the Titanic wreckage?
Go watch the movie Titanic.
Go watch a documentary.
Do you have to go down there and look at it?
What's your obsession?
Pat, you have a couple of dollars.
Are you going in a submarine, a baby submarine, and going down with your kid to go look at that?
You have to, listen, I will tell you, I know people that are very interested in space and they want to go out in space and see what's out there.
I know people that are more interested in going under and see what's down there, whether it's, you know, my son, Tico, wants to know if there's a megalodon.
He thinks a megalodon exists and he thinks aliens exist, right?
Of course.
I respect them.
And that's great.
And by the way, there are some people that are, didn't James Cameron go to the lowest point of the ocean when he was doing 5,000 something?
What was that?
Marianna Trench in the Pacific Ocean.
Him and two other people did that where we went all the way down.
These are guys that challenger deep.
Yeah, these are guys that like stuff like this.
And by the way, here's what's crazy.
We have to respect these guys because they're trendsetters.
They're not doing this.
You're not James Cameron going down there saying 100% we're going to make it.
No, you're going down there saying, shit, we may not make it when we come back, right?
It's not for everybody.
When I was in the Army, one of the things we had to do, and I'm sure you remember this year, there was this river and they had built this tube like this, okay, to go into the river because you're going to have to do this when you're in war.
He says, okay, you got to go through.
This was like 50 yards to go in there.
And when you're low crawling, and I'm a big guy, man, like if you ever had an MRI, and I mean, there's two, my shoulders are touching and you're in there for like 45 minutes.
If you have any slight touch of claustrophobic and you're in the middle and you feel stuck, do you know what that does to you?
Oh my God.
Do you know what that does to you when you're in the middle?
You're like, I can't move.
I can't move.
And you're trying to get out and you panic, right?
Of course.
So this isn't for everybody.
If that's you, this isn't something to do.
But, you know, look, whether a miracle happens here or not, or it's done down, we're going to find out here in the next couple, whatever.
But one point you make that's very valid, when it comes down to hiring jobs like this, this is where the DEI score no one should care about.
When it comes down to military and security, no one should look at the EI score.
When it comes down to protection of your family, no one should look at DEI scores.
When it comes down to flying and I'm trusting to fly a pilot, no one should be looking at DEI scores.
When it comes down to anything that has to do where my safety, your safety, our family's safety is on the line, the last thing you should be thinking about is DI.
Matter of fact, DEI shouldn't be looked at anything, but especially in the area of safety and security.
And they dropped the ball here.
So, you know, is there going to be conspiracies?
Do you know who's on there?
Do you know what the guy had access to?
He had a patent that he was about to launch.
Yeah, I mean, you know, there's that part of it as well.
But, you know, like the guy, Shahzada Dahwood, he's a Pakistani billionaire.
He was speaking at the, I think he's in the World Economic Forum.
He was, and that's already, people are like, oh, here we go.
He's that guy in his son.
But it's like, I mean, God rest their souls if they pass.
But I mean, that's just a, they've been down there knowing they're going to die for 90 hours, banging on the hull and hoping to God that somebody comes and saves them.
But I think you said it yesterday.
If that's what happened, if that's what happened.
It was a catastrophic failure.
Yeah, or it imploded.
But Tom, you said it.
Their search radius is the size of Connecticut.
You know what that means.
You're not getting found.
But then you think about it, Pat.
Besides the hiring of the people controlling it, you're not going down there with the state of the art.
Want the GPS on this thing better be top-notch so they can find me.
What are you bananas?
Well, I mean, if they, if they let's just say, God forbid, they don't make it, they go to heaven.
And St. Peter's saying, so what happened?
How'd you end up here?
Look, you know, we try to go to see the Titanic, but I will tell you, God, I hope you'll be proud of our ESG score.
Okay.
I hope you're not.
Listen to me.
I want to know.
We'll tell you right now.
See that 250.
You think God is woke?
You think God is woke right now?
You know what?
No problem.
We have now rainbow-colored clouds.
So you can go over there and you know, what are you talking about?
I don't know what kind of stuff.
Let's go play back gammon.
God says, hang on, man.
I invented the rainbow.
Yeah.
Oh, no.
Except with one additional color that was missing with the one that you have.
But anyway, last story here before we wrap up, I'm going to touch this one as well.
MSNBC president opened to Trump Town Hall, angering liberals.
MSNBC president Rashida Jones indicated openness to hosting a town hall with Donald Trump.
If he requested stating, would I say yes?
It would be a conversation.
I think you'd have to put parameters about how to control the environment.
She emphasized the network's discussions with all the candidates on bringing their viewpoints to the audiences through various formats.
The statement drew criticism with former MSNBC host Keith Oberman calling for a new president at the network and stating, once again, you have my most sincere apologies for what MSNBC has become CNN's.
Christine, Amampur, also disagree with allowing Trump in this format, saying I still respectfully disagree with allowing Donald Trump to appear in the particular format.
So listen, CNN does this.
Chris Lick gets fired.
Okay.
Now, after Chrysler gets fired, when CNN does it, all MSNBC did was criticize CNN.
Now they're saying they're open to the idea of doing this.
So is this just the whole point, Tom, that capitalism works?
And if you need eyeballs, you got to give a guy like that the set because he's going to bring eyeballs to the network?
Yeah, let me read a translation.
There is a translation that was of what he actually said.
Let me read it.
As ad sales and carriage fees are in the tank, we're very interested in anything that will generate revenue for MSM.
I retract my previous comments about a Trump debate because we could make a hell of a lot of money here.
Please ignore my talent that is about to go into orbit.
That's what.
Okay, well, thank you for that, Todd.
Do you think it's different than that, Pat?
I don't think it is.
I think capitalism works.
And I think capitalism wins because at the end of the day, yesterday, Tico's having a conversation with Dinkin.
We're finishing up the book here with Choose Your Enemies Wise Day.
I can't wait to launch this.
Every time I read it, I get more excited about this.
Anyway, it's going to be a while to come six months.
But one of the conversations we're having is, hey, he's asking, hey, Pat, Daddy, what's the difference between, you know, what do you call it?
A republic and a democracy.
Okay, gotcha.
So, hey, we're having this conversation.
A republic is when democracy is when the majority is protected because you're listening to the majority.
And a representative republic is when the individual is protected from the majority as well as the majority is also protected.
But the individual is also protected in a republic.
He says, well, are we a republic and a democracy?
Well, I pledge allegiance to the flag of the United States of America and to the Republic for which one nation under God, indivisible, liberty, and justice for all, right?
Okay.
So it's like, oh, okay, so that's what it is.
Yes.
Eventually, in these types of settings, man, these men who founded America on this freaking insane piece of paper, the Constitution, man.
So lucky.
Dude, like how shit's going to hit the fan here and there.
But the level of gratitude we ought to have for these folks that came up with this, you and I would have never met.
None of us would have met here.
It's just because of what these men did.
1775, 1776, imagine what these guys had to do.
So there is a protection to protect the Constitution and there's trust in knowing capitalism works.
The reason why capitalism works, look at the capitalists.
I myself, when the company sold PHP, people got checks.
There's a level of loyalty from us to each other when that happens, right?
Anything you do big, nothing's going to be built big if other people are also not participating in the victory.
Right now, what's happening with folks like MSNBC CNN, guess what they're saying?
Someone behind closed doors, they're having this.
You know what the behind closed doors conversation is?
It's not, why are you supporting Trump?
You know what the conversation is?
Hey, what's up with this loss?
We can't only do this for three more months.
If we keep losing the kind of money we're losing right now, you're fired.
You know what?
Call Trump.
Hey, President Trump, can you please come and do this?
Okay, we've got to do it.
Capitalism works.
And capitalism exposes bullshit.
The longer you stick around and you're like, and I'm talking about real capitalism.
I'm not talking about crony capitalism type of stuff.
Eventually somebody sits there and says, damn it, you got to trust incentives.
Incentives makes everybody realize I better get my act together.
Anyways, Yank, a great podcast today.
We didn't have the schedule to do it, but we said, let's go ahead and do it.
Emergency podcast made the announcement.
Appreciate my phone is blowing up.
I got so many messages right now.
People sending me messages left and right to everybody.
If I haven't got back to you.
Oh, Yankees, baby.
Yes, dude.
Congratulations again.
Thank you.
Thank you.
Yesterday, I was getting back to happy Father's Day messages that I'm like, listen, man.
Thank you.
And happy, belated Father's Day to you, my phone.
But I'm like, anyways, but look, a couple of things you do need to know.
We are talking to two or three big names for the next live podcast at 5990 Live.
I'm telling you this right now.
You will want to be at these, but they're not going to stay.
I'm telling you right now, when we announce the text, you got to get your tickets because it's going to sell out ASAP.
And every time we do this, we have the sheriff there.
We have security there.
We have guards there.
It's no joke when we do these types of events.
We're about to announce the next one.
Text award podcast to 310-340-1132.
Once again, Rob, if you can put it on the bottom, so they have a text award podcast to 310-340-1132.
We just can't wait to see you guys on our next live one because the energy is going to be even crazy with all the stuff that's going on.
But if you do want to get registered for the next one, again, text award podcast to 310-340-1132.
