WEBVTT - EYL #75 State of Emergency

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<v Speaker 1>An illegal alien from Guatemala charged with raping a child

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<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

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<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

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<v Speaker 1>filming and selling child pornography in Michigan. These are just

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<v Speaker 1>some of the heinous migrant criminals caught because of President

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<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

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<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

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<v Speaker 1>crossings are at the lowest levels ever recorded, and over

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<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

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<v Speaker 1>are here illegally, your next you will be fined nearly

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<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

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<v Speaker 1>never return. But if you register using our CBP home

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<v Speaker 1>app and leave now, you could be allowed to return legally.

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<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

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<v Speaker 1>border and families will be protected.

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<v Speaker 2>Sponsored by the United States Department of Homeland Security.

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<v Speaker 3>All right, guys, welcome back State of Emergency edition. You know,

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<v Speaker 3>we haven't really had a live episode since this Corona

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<v Speaker 3>situation for full blown Obviously, if you were watching a podcast,

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<v Speaker 3>you know that We have a lot of episodes that

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<v Speaker 3>we've take before and never put out, but but we

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<v Speaker 3>decided that, you know, instead of just keep putting those

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<v Speaker 3>episodes out, we got really a couple of really good

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<v Speaker 3>ones still in the vault. We wanted to kind of

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<v Speaker 3>just talk about some of some current topics.

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<v Speaker 2>Well has changed, Yeah, for sure, It's.

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<v Speaker 3>A lot going on in the world right now, and

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<v Speaker 3>our job is to try to help people out, try

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<v Speaker 3>to educate people, and try to you know, bring awareness

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<v Speaker 3>of different things.

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<v Speaker 4>So and we appreciate that people are looking for us

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<v Speaker 4>to do that, man, because that is super encouraging in

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<v Speaker 4>these times. So we're going to deliver on that for sure.

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<v Speaker 2>Yeah.

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<v Speaker 3>So we're gonna talk about a few different topics in

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<v Speaker 3>business right now that's trending and really relevant.

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<v Speaker 2>To everybody's lives.

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<v Speaker 3>And so yeah, first up to bat, we're gonna talk

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<v Speaker 3>about video conferencing.

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<v Speaker 2>Yeah, it's huge right now.

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<v Speaker 4>That seems to be the way that everyone is communicating

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<v Speaker 4>due to the social disgizing. There's tons of platforms, So

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<v Speaker 4>let's get into it. That's actually where we left off.

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<v Speaker 2>Really.

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<v Speaker 3>Yeah, we talked about Zoom a while ago, spoke Well,

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<v Speaker 3>the crazy thing is that if you're in business, you're

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<v Speaker 3>not new to Zoom, like you've been using Zoom for

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<v Speaker 3>a long time.

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<v Speaker 2>I been using Zoom for years.

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<v Speaker 3>I was actually surprised that not a lot of people

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<v Speaker 3>knew what Zoom was until recently. But we spoke about

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<v Speaker 3>Zoom on the podcast I think a few weeks ago.

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<v Speaker 2>Yep.

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<v Speaker 4>We were actually talking about how if this was going

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<v Speaker 4>to happen, social digital was going to happen, we would

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<v Speaker 4>see video conference and be the thing, and that was

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<v Speaker 4>a stock that we spoke about.

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<v Speaker 2>And now we're back at it. Yeah.

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<v Speaker 3>So if anybody's not familiar, Zoom is a video conferencing

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<v Speaker 3>application that allows you to video conference. It's like FaceTime,

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<v Speaker 3>but it also allows to do like I think, up

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<v Speaker 3>to like a thousand people. It's a max something like that,

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<v Speaker 3>and then it has like different levels that you can

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<v Speaker 3>pay for or different features. And it's real big in

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<v Speaker 3>the business world. And now it's real big in the

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<v Speaker 3>world period because you got all kinds of different things

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<v Speaker 3>where everybody was social distancing, has to communicate with each

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<v Speaker 3>other by not physically being there. So Zoom is really

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<v Speaker 3>taking off. So how this is relevant to everybody's lives

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<v Speaker 3>is because now everybody's on Zoom, whether it's through distance

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<v Speaker 3>learning with your children or yourself, whether it's through your

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<v Speaker 3>job right, whether it's through communicating with relatives, friends, family.

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<v Speaker 2>Like virtual happy hours.

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<v Speaker 3>The user amount went from ten million to one hundred million.

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<v Speaker 2>They went from ten million to two hundred million in two.

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<v Speaker 3>Months, ten million to two hundred million two months. The

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<v Speaker 3>stock price went from sixty four dollars sixty two dollars

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<v Speaker 3>in December to it reached its peak at one hundred

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<v Speaker 3>and sixty four dollars in March. So just in a

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<v Speaker 3>few months, it increased one hundred and sixty four percent.

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<v Speaker 3>When everything else was falling, Zoom was rising.

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<v Speaker 2>We started getting text messages about that thanks.

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<v Speaker 3>And it went up one hundred and sixty four percent,

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<v Speaker 3>and so it's crazy. So now it's like we talk

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<v Speaker 3>about it all the time as far as how you

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<v Speaker 3>got to stay up to date as far as the

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<v Speaker 3>world because everything changes so rapidly. But now we actually

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<v Speaker 3>get to witness it. We actually get to witness the

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<v Speaker 3>world literally changing in fourteen days.

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<v Speaker 2>Like living in it as it's evolvement.

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<v Speaker 4>It's kind of crazy to be a part of because

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<v Speaker 4>everybody says, like, yo, we never thought we'd be here,

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<v Speaker 4>but we're here, and now it was like well three

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<v Speaker 4>or four weeks now that we're into it, So getting

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<v Speaker 4>adjusted to it is a thing, and then now trying

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<v Speaker 4>to survive in it is another.

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<v Speaker 3>Yeah, so let's talk about Zoom. We gonna talk about

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<v Speaker 3>few different things for the conference, but just talk about Zoom. So,

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<v Speaker 3>as I said, I mean, everybody should be aware of Zoom.

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<v Speaker 3>We use Zoom for Eyo University. Shout out to all

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<v Speaker 3>Eyo University members. Most jobs that are you know, doing

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<v Speaker 3>distance communication is using Zoom. Most distance learning is using Zoom.

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<v Speaker 3>So a lot of people are getting familiar with Zoom.

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<v Speaker 3>Like you said, it went from ten million users to

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<v Speaker 3>two hundred million users. A lot of people is downloading

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<v Speaker 3>the app, using it overnight, getting familiar with it, but

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<v Speaker 3>they're not they just getting to know it, right. So,

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<v Speaker 3>but like all things, they've had some issues, right, So

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<v Speaker 3>the issues.

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<v Speaker 4>Yeah, so the major thing, like you said, a lot

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<v Speaker 4>of business corporation has been using it. But when it

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<v Speaker 4>came into the education space, security became a real situation.

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<v Speaker 4>We had kids going into conferences what they're calling is

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<v Speaker 4>zoom bombing, going into them not being invited.

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<v Speaker 2>Kurs and doing all types of profanity.

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<v Speaker 4>So it became a security issue from an education standpoint,

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<v Speaker 4>but on a business standpoint, a lot of people's information

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<v Speaker 4>was being shared, so that became a big thing. Companies

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<v Speaker 4>like Facebook and LinkedIn were getting information based on people

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<v Speaker 4>subscribing and people putting up their ID for their chats,

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<v Speaker 4>so it became a real security issue, and recently New

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<v Speaker 4>York City decided listen, we're banning Zoom. We can't use

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<v Speaker 4>it now for our schools. We have to find alternatives

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<v Speaker 4>for these reasons.

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<v Speaker 3>Yeah, and you know, it's something that all technology companies

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<v Speaker 3>have for Privy too, So it's like Facebook just the

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<v Speaker 3>next one up. Facebook has pay billions of dollars for

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<v Speaker 3>sharing user information. Google has been proven that they've shared

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<v Speaker 3>user information. So this is the world that we live in.

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<v Speaker 3>And Zoom has vowed to take steps to correct this measure.

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<v Speaker 4>Yeah, so now there thing is like rather than making upgrades,

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<v Speaker 4>because it's some things that they could do to improve

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<v Speaker 4>now that they have such a large platform of people

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<v Speaker 4>that are using it, they've maken a vow to listen

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<v Speaker 4>the next sixty to ninety days. Our only thing that

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<v Speaker 4>we're working on is security. So it's a great platform.

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<v Speaker 4>They just want to get the bugs out. So there

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<v Speaker 4>was like an update that happened a few weeks ago.

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<v Speaker 4>They're going to keep updating to make sure that the

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<v Speaker 4>security measures are met so that we don't have instiantis

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<v Speaker 4>like this. But if you are familiar with zoom, and

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<v Speaker 4>it's tough because I've been trying to explain this to

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<v Speaker 4>a lot of people. It was like, you can have

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<v Speaker 4>your own security measures right when you have a conference,

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<v Speaker 4>don't share the idea, or.

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<v Speaker 3>You have a password.

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<v Speaker 2>Also, yeah, you can put.

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<v Speaker 4>Password protect the ID, or when somebody comes into the room,

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<v Speaker 4>you can put they must expimission before entering. You make

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<v Speaker 4>sure that everybody mic is muted before they enter. You

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<v Speaker 4>make sure no screens on before they inter So all

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<v Speaker 4>these things that people who are commenting zoom could.

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<v Speaker 2>Have done or know to do. The new userge they're

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<v Speaker 2>not for making.

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<v Speaker 3>So for like people that are zoom bomb what's zoom bombing?

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<v Speaker 3>Talk about so zoom bombing.

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<v Speaker 4>And I'll give you a perfect example is like if

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<v Speaker 4>we had a video conference, right, We're doing an Eyo

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<v Speaker 4>University webinar and somebody shared like that we didn't have

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<v Speaker 4>part of the group shared that link. They come in

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<v Speaker 4>and they just go off like their MIC's not muted,

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<v Speaker 4>so they might start saying all types of profanity. They

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<v Speaker 4>might have like crazy things up on their screen if

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<v Speaker 4>their video conference button is on, And now that could

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<v Speaker 4>destroy a whole webinar, right, So people that was happening

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<v Speaker 4>in schools, and it was happening in corporations, like people

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<v Speaker 4>having corporate meetings and out of nowhere, like there would

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<v Speaker 4>be like somebody just boom to start cursing in the

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<v Speaker 4>middle of like multi million dollar meetings, which is crazy,

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<v Speaker 4>but that's what you do when you have security labs.

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<v Speaker 3>So all right, So for people that are in business,

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<v Speaker 3>because this is a business podcast and they're setting up

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<v Speaker 3>their zoom, what tips can how do they stop that

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<v Speaker 3>from happening?

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<v Speaker 4>Like we said, so there are precursors before once you

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<v Speaker 4>set up your accounts. When you set up you account,

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<v Speaker 4>there's all types of things you can do when doing

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<v Speaker 4>like a webinar or you're doing a video conference. When

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<v Speaker 4>you go to the settings, you can check everyone's mic

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<v Speaker 4>mutant when entering, everyone's video capabilities muted while entering. That way,

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<v Speaker 4>when somebody comes in the room, you'll know, like wait,

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<v Speaker 4>who is this person, and especially if education you could

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<v Speaker 4>just check over a ten it's like, all right, I

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<v Speaker 4>know that name. If that name is not familiar, you

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<v Speaker 4>don't let them in the room. Like you said earlier.

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<v Speaker 4>You can also put a password when entering, so like

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<v Speaker 4>that password is only given to members who are invited

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<v Speaker 4>to the room. So that password gets entered, you see

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<v Speaker 4>it come up. You can invite them to talk. Those

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<v Speaker 4>are easy steps that people can do. I just don't

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<v Speaker 4>think that people know that those barriers exist.

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<v Speaker 3>And Zoom is so you create the zoom link and

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<v Speaker 3>then you send it. You you send it to anybody

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<v Speaker 3>that you want to have in the Zoom exactly rxactly.

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<v Speaker 3>Zoom is free, right, that's true up to one hundred users.

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<v Speaker 2>One hundred users.

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<v Speaker 4>Yeah, so anything over one hundred users, like some conference

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<v Speaker 4>rooms have a thousand, right, then you're gonna have to

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<v Speaker 4>pay more.

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<v Speaker 2>How much do you pay?

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<v Speaker 3>Uh?

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<v Speaker 2>Their plans vary.

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<v Speaker 4>I know there's one that's ninety nine, there's a three

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<v Speaker 4>to ninety nine plan, and then it goes up from there.

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<v Speaker 2>You know how many people you want a month?

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<v Speaker 4>Yeah, per month, right, which in the business world is

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<v Speaker 4>a small expense. If you have to use Zoom on

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<v Speaker 4>a daily and you having huge numbers of people in

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<v Speaker 4>your conference.

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<v Speaker 2>It makes sense.

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<v Speaker 4>But school districts have to do now is like figure

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<v Speaker 4>out like where we go next? Because that was an

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<v Speaker 4>expense that kept everybody together.

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<v Speaker 2>Now what do we use?

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<v Speaker 3>Okay and Zoom stock? So on the financial side people

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<v Speaker 3>can benefit from it is that obviously you can buy

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<v Speaker 3>a stock. So like I said, that the stock one

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<v Speaker 3>of one hundred and sixty four percent in a few months,

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<v Speaker 3>which is crazy. Then they dropped after all of the

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<v Speaker 3>security stuff came out and dropped. So now it's at

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<v Speaker 3>one hundred and twenty four dollars, so still double what

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<v Speaker 3>it was in December, literally double from sixty two to

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<v Speaker 3>one hundred and twenty four. Will we bullish on the

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<v Speaker 3>stock or parish on the stock?

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<v Speaker 2>Who you're asking if we are?

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<v Speaker 3>Yeah, I'm asking your opinion.

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<v Speaker 4>I like the stock, like I said, I think the

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<v Speaker 4>platform is good. They have some security issues. I'm sure

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<v Speaker 4>they'll be competitors that are trying to compete, but that's

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<v Speaker 4>what everyone's using. Right you got two hundred million people

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<v Speaker 4>at your doing stuff right now.

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<v Speaker 2>I think it's a great stock.

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<v Speaker 4>I don't think that social distance discision is going anywhere

0:10:14.200 --> 0:10:14.840
<v Speaker 4>anytime soon.

0:10:15.480 --> 0:10:17.079
<v Speaker 2>So I think it stays around.

0:10:17.400 --> 0:10:19.800
<v Speaker 3>I'm bullet showing. I'm bullet showing Zoom. I don't know

0:10:19.800 --> 0:10:21.920
<v Speaker 3>if right now it's the best time to buy Zoom stock,

0:10:22.000 --> 0:10:23.959
<v Speaker 3>but I think over the long haul, Zoom is here

0:10:23.960 --> 0:10:27.080
<v Speaker 3>to stay. They've had security issues, but everybody's has security.

0:10:27.520 --> 0:10:30.480
<v Speaker 3>Facebook has more security issues than anybody, and everybody still

0:10:30.559 --> 0:10:32.199
<v Speaker 3>uses Instagram. A lot of people don't even know that

0:10:32.240 --> 0:10:35.120
<v Speaker 3>Facebook owns Instagram, which is mind modeling. And there's people

0:10:35.160 --> 0:10:38.360
<v Speaker 3>on Instagram that say, I don't trust Facebook. I never

0:10:38.400 --> 0:10:41.440
<v Speaker 3>opened a Facebook account and you have Instagram. Man, I'm like,

0:10:41.480 --> 0:10:44.480
<v Speaker 3>did you realize that Facebook owns Instagram's books?

0:10:44.480 --> 0:10:47.320
<v Speaker 2>So hack everybody on Instagram, same company, guys.

0:10:47.679 --> 0:10:50.200
<v Speaker 3>But it's actually a very interesting article about how Mark

0:10:50.320 --> 0:10:53.920
<v Speaker 3>Zuckerberg sage tried to sabotage Instagram because you got jealous.

0:10:53.960 --> 0:10:55.680
<v Speaker 3>That's a whole different story. Maybe we'll talk about that

0:10:55.679 --> 0:10:58.520
<v Speaker 3>on the podcast. But so yeah, I think that long

0:10:58.600 --> 0:11:01.800
<v Speaker 3>term Zoom has a lot more improvement to make. But

0:11:02.200 --> 0:11:04.400
<v Speaker 3>I think it's here to stay. Like I said, I

0:11:04.440 --> 0:11:06.959
<v Speaker 3>was using Zoom before social distancing. Now, as you said,

0:11:07.000 --> 0:11:09.880
<v Speaker 3>I don't think social distancing is going anywhere, So it'd

0:11:09.880 --> 0:11:10.600
<v Speaker 3>be interesting to see.

0:11:10.600 --> 0:11:13.160
<v Speaker 2>But there's a few other apps like that.

0:11:13.200 --> 0:11:17.000
<v Speaker 3>Have come to prominence during this time of social distancing,

0:11:17.360 --> 0:11:21.320
<v Speaker 3>and you know, it really highlights a new way of living,

0:11:21.360 --> 0:11:23.480
<v Speaker 3>like if you think about it, because it's like I

0:11:23.520 --> 0:11:26.160
<v Speaker 3>always tell people, I was telling Jamal this the other day.

0:11:26.400 --> 0:11:28.680
<v Speaker 3>Sixty day, they say, sixty days of doing anything makes

0:11:28.679 --> 0:11:33.120
<v Speaker 3>a haboc. So it's like, at first, when this whole

0:11:33.120 --> 0:11:35.840
<v Speaker 3>social distancing came about, everybody's like nah na da da da.

0:11:36.360 --> 0:11:39.120
<v Speaker 3>And then after a few weeks everybody gets used to it.

0:11:39.160 --> 0:11:41.600
<v Speaker 3>And then after two months this has become normal. So

0:11:41.640 --> 0:11:44.960
<v Speaker 3>now you see virtual happy hours, you see virtual birthday

0:11:45.000 --> 0:11:49.480
<v Speaker 3>parties one. You know, Instagram Lives is going through the roof.

0:11:49.520 --> 0:11:53.280
<v Speaker 3>Right now, you're crazy Quarantine Radio with Tory Lanes Quarantine Quarantine.

0:11:53.320 --> 0:11:58.800
<v Speaker 3>You've seen swissing in versus battles d nice Man Nice

0:11:59.440 --> 0:12:02.719
<v Speaker 3>So now every so now everybody's settling in. I say,

0:12:02.800 --> 0:12:05.760
<v Speaker 3>I to say another app that's changed in the world

0:12:05.800 --> 0:12:06.280
<v Speaker 3>right now.

0:12:06.120 --> 0:12:08.200
<v Speaker 2>House Party. House Party is crazy, house party.

0:12:08.200 --> 0:12:09.760
<v Speaker 3>Shoot. I just found out about house Party. I wasn't

0:12:09.760 --> 0:12:13.000
<v Speaker 3>evenly even aware of the situation. Somebody told me about it,

0:12:13.040 --> 0:12:15.480
<v Speaker 3>and it like download the app and then once they

0:12:15.520 --> 0:12:17.640
<v Speaker 3>told me about it. A lot of people started talking

0:12:17.679 --> 0:12:19.520
<v Speaker 3>about it about house Party.

0:12:19.559 --> 0:12:20.400
<v Speaker 2>Yes, the house Party's dope.

0:12:20.440 --> 0:12:22.640
<v Speaker 4>It's one of those interactive situations where you have video

0:12:22.640 --> 0:12:24.920
<v Speaker 4>conferencings but you can have multiple people in a lot

0:12:24.920 --> 0:12:27.080
<v Speaker 4>of people using it at first as a way to

0:12:27.160 --> 0:12:30.200
<v Speaker 4>do online gaming, right, so like if we're playing a game,

0:12:30.240 --> 0:12:31.920
<v Speaker 4>we can like Heads Up as a popular game on

0:12:31.960 --> 0:12:34.160
<v Speaker 4>that so I can do it virtually. But now it's

0:12:34.200 --> 0:12:36.720
<v Speaker 4>turned into that virtual happy hour spot where people can

0:12:36.760 --> 0:12:40.160
<v Speaker 4>talk to each other and have own separate conversations within

0:12:40.200 --> 0:12:41.840
<v Speaker 4>an app. Man So house Party is one of those

0:12:41.920 --> 0:12:43.880
<v Speaker 4>joints that if you're not up on, definitely get up

0:12:43.920 --> 0:12:44.120
<v Speaker 4>on that.

0:12:44.200 --> 0:12:47.360
<v Speaker 3>I would advise anybody in business. But I said before

0:12:47.440 --> 0:12:50.000
<v Speaker 3>Dana Shanell like she said this during her interview. If

0:12:50.080 --> 0:12:52.280
<v Speaker 3>the business doesn't have a home, it's homeless. She was

0:12:52.280 --> 0:12:55.400
<v Speaker 3>talking about apps. She's like, every business has to have

0:12:55.440 --> 0:12:58.599
<v Speaker 3>an app. So I said to say, I encourage all entrepreneurs,

0:12:58.600 --> 0:13:01.360
<v Speaker 3>all business, anybody that's interested business. If you're not online,

0:13:01.360 --> 0:13:04.480
<v Speaker 3>you don't have a business. That's my sibhilosophy. But taking

0:13:04.480 --> 0:13:06.800
<v Speaker 3>a step even further, if you don't have a way

0:13:06.840 --> 0:13:12.200
<v Speaker 3>to be engaged and interactive with customers, clients, people, other

0:13:12.240 --> 0:13:15.120
<v Speaker 3>employees virtually because we already knew this was coming. This

0:13:15.200 --> 0:13:17.840
<v Speaker 3>is this is the thing about life. Sometimes things gets accelerated.

0:13:18.120 --> 0:13:21.640
<v Speaker 3>We already knew that the world was headed towards a

0:13:21.720 --> 0:13:22.520
<v Speaker 3>virtual reality.

0:13:22.720 --> 0:13:24.160
<v Speaker 4>We spoke about it a lot, even when we talk

0:13:24.200 --> 0:13:26.280
<v Speaker 4>about brick and mortar, Like we said, Yo, listen, if

0:13:26.320 --> 0:13:28.120
<v Speaker 4>you don't have an online presence, you ain't gonna survive.

0:13:28.360 --> 0:13:30.360
<v Speaker 3>Yeah, you can't fight it. You just got to go

0:13:30.400 --> 0:13:33.160
<v Speaker 3>with it, right, So we're seeing you. If you can't

0:13:33.280 --> 0:13:35.400
<v Speaker 3>understand like this play, Like a lot of times people

0:13:35.440 --> 0:13:38.040
<v Speaker 3>get amused by what's going on, they can't actually see

0:13:38.040 --> 0:13:39.880
<v Speaker 3>what's in front of their face. So it's like four

0:13:39.960 --> 0:13:43.120
<v Speaker 3>hundred thousand people's tuned into Tory Lanes with Quarantine Radio,

0:13:43.120 --> 0:13:46.040
<v Speaker 3>and it's like it's entertaining. But if you don't see

0:13:46.040 --> 0:13:48.120
<v Speaker 3>the bigger play behind that, then you're missing it. The

0:13:48.160 --> 0:13:51.480
<v Speaker 3>bigger play is that this is a new way. This

0:13:51.600 --> 0:13:53.480
<v Speaker 3>is a new way. Like I mean as far as

0:13:53.520 --> 0:13:59.360
<v Speaker 3>like virtually the days of physical interaction, as far as

0:13:59.440 --> 0:14:03.480
<v Speaker 3>like seminars, workshops, a lot of these things might not

0:14:03.559 --> 0:14:04.280
<v Speaker 3>really fully ever.

0:14:04.160 --> 0:14:06.480
<v Speaker 4>Recome anytime that we have to interact with people in

0:14:06.559 --> 0:14:08.920
<v Speaker 4>large groups, it's going to be tough, like the trust

0:14:08.960 --> 0:14:13.040
<v Speaker 4>of society won't be there, so large events they can't

0:14:13.080 --> 0:14:14.000
<v Speaker 4>exist in the same way that.

0:14:14.000 --> 0:14:14.760
<v Speaker 2>They used to.

0:14:14.400 --> 0:14:16.959
<v Speaker 4>Tory Lanze is ill though, because, like you said, the

0:14:17.000 --> 0:14:19.640
<v Speaker 4>record on Instagram live for most people, and then the

0:14:19.680 --> 0:14:21.760
<v Speaker 4>other day he went to TikTok and he had the

0:14:21.800 --> 0:14:22.760
<v Speaker 4>most live on there too.

0:14:22.960 --> 0:14:25.080
<v Speaker 3>He's moving crazy, right, I mean, he's doing the right thing,

0:14:25.160 --> 0:14:27.320
<v Speaker 3>and like even for us, like you know, like I

0:14:27.360 --> 0:14:28.600
<v Speaker 3>was saying a couple of days ago, I'm like, we

0:14:28.640 --> 0:14:34.360
<v Speaker 3>need to have a virtual networking event for eyl real

0:14:34.480 --> 0:14:36.680
<v Speaker 3>Estate group. So that's going to happen. And it's like, okay,

0:14:36.720 --> 0:14:39.360
<v Speaker 3>cause I'm I'm seeing online where it's like these virtual

0:14:39.400 --> 0:14:43.520
<v Speaker 3>meetups and it's like sixty people online, and I'm like, okay, well,

0:14:43.680 --> 0:14:47.400
<v Speaker 3>we should have a virtual meetup, meet and greet for

0:14:48.000 --> 0:14:50.920
<v Speaker 3>our Facebook group that we just started privately Facebook group

0:14:50.920 --> 0:14:53.640
<v Speaker 3>for real estate. Get about sixty seventy people in there,

0:14:53.680 --> 0:14:56.160
<v Speaker 3>have them introduce themselves and just have a conversation. It

0:14:56.240 --> 0:14:59.360
<v Speaker 3>sounds crazy until it happens, Yes, And this is the

0:14:59.400 --> 0:15:01.360
<v Speaker 3>world that we live. And so I'm saying that pay

0:15:01.400 --> 0:15:04.320
<v Speaker 3>attention to what's going on because it's changing very quickly

0:15:04.640 --> 0:15:08.160
<v Speaker 3>and you see apps like this. TikTok definitely is another one,

0:15:08.200 --> 0:15:12.680
<v Speaker 3>another one with major security issues. TikTok is a Chinese

0:15:12.760 --> 0:15:16.320
<v Speaker 3>company and it actually they actually had a whole thing

0:15:16.320 --> 0:15:20.120
<v Speaker 3>about it on Capitol Hill where they are obligated by

0:15:20.120 --> 0:15:24.280
<v Speaker 3>the Chinese government to give the users information to Beijing

0:15:24.720 --> 0:15:30.600
<v Speaker 3>and that includes browsing history, messaging photos, all kinds of

0:15:30.600 --> 0:15:33.520
<v Speaker 3>stuff that we know about. And it's so serious that

0:15:34.040 --> 0:15:38.720
<v Speaker 3>five government agencies banned their employees from using TikTok, and

0:15:38.760 --> 0:15:42.680
<v Speaker 3>the Pentagon went so far as to tell their employees

0:15:42.760 --> 0:15:45.760
<v Speaker 3>that their children should not be using TikTok.

0:15:46.000 --> 0:15:46.520
<v Speaker 2>And that's crazy.

0:15:46.600 --> 0:15:48.200
<v Speaker 4>So like most of the world is thinking, like, yo,

0:15:48.480 --> 0:15:51.320
<v Speaker 4>how can I recreate that I'm a Savage challenge or

0:15:51.680 --> 0:15:53.600
<v Speaker 4>any of these challenges, And it's like, not, there's a

0:15:53.640 --> 0:15:55.280
<v Speaker 4>bigger play here, Like y'all got to see that.

0:15:55.440 --> 0:15:57.720
<v Speaker 3>Yeah, they're doing these things with these makeup brushes.

0:15:58.280 --> 0:16:00.320
<v Speaker 2>Oh, the rush challenge, Yeah, and.

0:16:01.920 --> 0:16:06.320
<v Speaker 3>No, it's it's it's entertaining, but I mean, just understand

0:16:06.320 --> 0:16:09.320
<v Speaker 3>what you're doing, Like you're doing these shimmy dances and

0:16:09.360 --> 0:16:12.640
<v Speaker 3>they're they're taking all your information. I mean, I don't

0:16:12.640 --> 0:16:14.360
<v Speaker 3>know what to call it like I'm from I'm from

0:16:14.360 --> 0:16:14.960
<v Speaker 3>a different era.

0:16:15.680 --> 0:16:16.680
<v Speaker 2>We you know what I'm saying.

0:16:16.840 --> 0:16:18.760
<v Speaker 3>I respect what's going on, but I'm just from a

0:16:18.800 --> 0:16:20.080
<v Speaker 3>different I'm cut from a.

0:16:20.120 --> 0:16:22.720
<v Speaker 4>Time I think people are just trying to find ways

0:16:22.760 --> 0:16:25.320
<v Speaker 4>to entertain themselves or find entertainment and you know.

0:16:25.400 --> 0:16:27.240
<v Speaker 3>But you know what, though we said this before too,

0:16:28.040 --> 0:16:31.280
<v Speaker 3>the vast majority of people, unfortunately, will come out of

0:16:31.360 --> 0:16:34.920
<v Speaker 3>this thing worse than they left then they.

0:16:34.840 --> 0:16:35.840
<v Speaker 2>Came, they went into it.

0:16:36.400 --> 0:16:40.640
<v Speaker 3>A select few will come out tremendously better. We've been saying,

0:16:40.840 --> 0:16:46.080
<v Speaker 3>the financially said, there's a lot of opportunity, and the

0:16:46.240 --> 0:16:48.920
<v Speaker 3>vast majority will not be able to see it because

0:16:48.960 --> 0:16:52.400
<v Speaker 3>they will be caught up in entertainment and survival and

0:16:52.480 --> 0:16:56.640
<v Speaker 3>a select few will make a killing.

0:16:56.960 --> 0:16:57.360
<v Speaker 2>We said that.

0:16:57.440 --> 0:17:00.440
<v Speaker 4>We actually had this conversation and we said, like, right now,

0:17:00.520 --> 0:17:02.440
<v Speaker 4>it's survival mode, but for some people to thrive the

0:17:02.480 --> 0:17:04.359
<v Speaker 4>mode we're trying to figure out, like yo, how we

0:17:05.000 --> 0:17:07.119
<v Speaker 4>how we're going to survive the drought, Like we're going

0:17:07.160 --> 0:17:09.720
<v Speaker 4>to survive the drought and do well, So like that's

0:17:09.760 --> 0:17:11.359
<v Speaker 4>the mindset that's got to be, Like, Yo, there's an

0:17:11.359 --> 0:17:14.040
<v Speaker 4>opportunity in here. Like I told people this ain't ideal

0:17:14.080 --> 0:17:16.239
<v Speaker 4>time anymore. This is idea time. So like we got

0:17:16.280 --> 0:17:18.240
<v Speaker 4>to stop thinking like yo, we have so much time

0:17:18.280 --> 0:17:20.360
<v Speaker 4>on here, as now it's time to start creating ideas

0:17:20.359 --> 0:17:23.360
<v Speaker 4>in your head and like, listen, we can thrive here.

0:17:23.400 --> 0:17:25.640
<v Speaker 4>This is an area where we can thrive. And as

0:17:25.640 --> 0:17:28.520
<v Speaker 4>you can see social media, video conferencing.

0:17:28.240 --> 0:17:28.919
<v Speaker 2>There's some space.

0:17:28.960 --> 0:17:31.879
<v Speaker 4>So like zoom has some issues, I'm sure there's somebody

0:17:31.920 --> 0:17:33.959
<v Speaker 4>right now that's trying to say, you know what, we

0:17:34.000 --> 0:17:35.679
<v Speaker 4>can make a better platform than what they have.

0:17:36.080 --> 0:17:37.840
<v Speaker 3>And now it's a good time too to reach out

0:17:37.840 --> 0:17:39.720
<v Speaker 3>to So like even with us with the podcast, and

0:17:39.760 --> 0:17:41.879
<v Speaker 3>I got this idea yesterday, it's like now because at

0:17:41.920 --> 0:17:43.720
<v Speaker 3>first I'm like, it's a couple of big name people

0:17:43.760 --> 0:17:45.680
<v Speaker 3>that I wanted to reach out to get on the podcast,

0:17:45.680 --> 0:17:48.600
<v Speaker 3>and I'm like, oh, now we gotta wait because it's

0:17:48.680 --> 0:17:50.639
<v Speaker 3>slow motion. But then I'm like, actually, this might be

0:17:50.640 --> 0:17:54.560
<v Speaker 3>a beneficial thing because now everybody's home, so they can't

0:17:54.600 --> 0:17:57.240
<v Speaker 3>have the excuse that they are out of town or

0:17:57.280 --> 0:18:00.400
<v Speaker 3>they flying on So maybe this is a good time

0:18:00.400 --> 0:18:02.320
<v Speaker 3>to actually reach out to those people. And what I'm

0:18:02.320 --> 0:18:05.720
<v Speaker 3>seeing online with a lot of creatives and people in

0:18:05.760 --> 0:18:07.520
<v Speaker 3>business is that there's a lot of collaboration, a lot

0:18:07.560 --> 0:18:10.680
<v Speaker 3>of Instagram lives. We're actually doing something with Jay Morrison Saturday,

0:18:11.200 --> 0:18:12.560
<v Speaker 3>shout out to him, and we're doing a live with

0:18:12.640 --> 0:18:15.600
<v Speaker 3>him tomorrow at APM Eastern time if you're listening to

0:18:15.640 --> 0:18:17.840
<v Speaker 3>this and then it comes out on Tuesday. So I

0:18:17.840 --> 0:18:20.240
<v Speaker 3>say that to say it's a lot of collaboration. Definitely

0:18:20.240 --> 0:18:24.520
<v Speaker 3>that's going on, and that is something that is extremely

0:18:24.600 --> 0:18:27.200
<v Speaker 3>valuable as well, because it's like, Okay, everybody's home. People

0:18:27.200 --> 0:18:30.680
<v Speaker 3>are consuming content at unprecedented rates, especially on social media.

0:18:31.080 --> 0:18:34.960
<v Speaker 3>So now you have a platform where you have millions

0:18:35.000 --> 0:18:39.119
<v Speaker 3>of eyeballs that nobody's at work, nobody's at school, nobody's

0:18:39.160 --> 0:18:42.560
<v Speaker 3>at church, and everybody's at home. So are you going

0:18:42.640 --> 0:18:44.960
<v Speaker 3>to make the most of the opportunity, especially the I'm

0:18:44.960 --> 0:18:46.679
<v Speaker 3>talking to content creators right now, You're going to make

0:18:46.680 --> 0:18:49.760
<v Speaker 3>the most of the opportunity or are you going to

0:18:49.800 --> 0:18:50.520
<v Speaker 3>squad into the moment?

0:18:50.640 --> 0:18:52.280
<v Speaker 4>You got to make sure it's valuable too, because now

0:18:52.320 --> 0:18:54.879
<v Speaker 4>you've got to remember that for those same reasons that

0:18:55.200 --> 0:18:58.000
<v Speaker 4>everybody's watching, why are they going to watch you? So

0:18:58.000 --> 0:19:00.399
<v Speaker 4>you got to make sure that the content is valuable

0:19:00.400 --> 0:19:02.840
<v Speaker 4>and that it's worth watching. It's not just some frivolous

0:19:02.880 --> 0:19:04.439
<v Speaker 4>thing that you're putting out because you all competing with

0:19:04.480 --> 0:19:07.080
<v Speaker 4>people who never went on IG live are now there

0:19:07.080 --> 0:19:10.320
<v Speaker 4>and everybody's I saw Rihanna on I Live yesterday.

0:19:10.320 --> 0:19:14.120
<v Speaker 3>Shout out to Benny Pugh. Ben We spoke a few

0:19:14.200 --> 0:19:17.120
<v Speaker 3>days ago, former president of Rock Nation, and he told

0:19:17.160 --> 0:19:19.119
<v Speaker 3>me he was like, all the everybody's doing what they

0:19:19.119 --> 0:19:20.160
<v Speaker 3>should have been doing.

0:19:20.040 --> 0:19:21.399
<v Speaker 2>A year ago, two years exactly.

0:19:21.560 --> 0:19:23.520
<v Speaker 3>Now everybody want to get on Instagram Live and build

0:19:23.560 --> 0:19:26.440
<v Speaker 3>their social media. Now everybody realized how valuable social media

0:19:26.600 --> 0:19:28.800
<v Speaker 3>that you should have been on Instagram Live, should have

0:19:28.840 --> 0:19:31.520
<v Speaker 3>been doing these youtubes. I should have been doing all

0:19:31.560 --> 0:19:34.560
<v Speaker 3>this stuff and even a lot of Instagram Like this

0:19:34.600 --> 0:19:36.560
<v Speaker 3>is a perfect time to create your own situation like

0:19:36.600 --> 0:19:38.520
<v Speaker 3>Tory Lanez and they shut him down, and it's like, okay,

0:19:38.600 --> 0:19:41.160
<v Speaker 3>now now we once again Danny Channel. She was speaking

0:19:41.160 --> 0:19:44.360
<v Speaker 3>about how much power one app has. You see that

0:19:44.920 --> 0:19:48.159
<v Speaker 3>this whole TikTok and Instagram lives is getting moved by

0:19:48.240 --> 0:19:52.360
<v Speaker 3>hip hop artists. Hip hop artists are moving these TikTok

0:19:52.480 --> 0:19:55.800
<v Speaker 3>is the biggest downloaded, number one downloaded Apple twenty nineteen.

0:19:55.880 --> 0:19:59.320
<v Speaker 3>There's more teenagers on TikTok than they are on Facebook.

0:19:59.440 --> 0:20:05.800
<v Speaker 3>Fact moved by hip hop dances and hip hop culture.

0:20:06.200 --> 0:20:09.399
<v Speaker 3>So if that doesn't show you the power and you

0:20:09.400 --> 0:20:11.840
<v Speaker 3>know what I'm saying, what these artists are actually doing,

0:20:12.080 --> 0:20:14.479
<v Speaker 3>if they don't fully understand that, it's like, why not

0:20:14.600 --> 0:20:16.560
<v Speaker 3>create your own your own I would love to see

0:20:16.560 --> 0:20:18.760
<v Speaker 3>Swiss Beats and Timbland. I don't know why they didn't

0:20:18.800 --> 0:20:20.200
<v Speaker 3>do it on their own platform.

0:20:20.880 --> 0:20:22.800
<v Speaker 4>So that's the thing, and I think maybe that's the place.

0:20:22.800 --> 0:20:25.120
<v Speaker 4>So like Versus, they keep using the hashtaging. In my mind,

0:20:25.119 --> 0:20:27.000
<v Speaker 4>I'm like, there must be a bigger platform. I think

0:20:27.000 --> 0:20:30.159
<v Speaker 4>they're building out Versus and when we come back to

0:20:30.200 --> 0:20:32.439
<v Speaker 4>a place where we can actually move around, like I

0:20:32.440 --> 0:20:36.480
<v Speaker 4>think Versus becomes a platform for just that. Right now,

0:20:36.480 --> 0:20:37.920
<v Speaker 4>they have to use Instagram and then they got to

0:20:37.920 --> 0:20:40.320
<v Speaker 4>play by Instagram rules. So like I'm watching every battle

0:20:40.320 --> 0:20:42.359
<v Speaker 4>because just as a fan of the culture, I'm super

0:20:42.600 --> 0:20:44.640
<v Speaker 4>into it. Right but then like every hour they get

0:20:44.680 --> 0:20:47.400
<v Speaker 4>cut off, we gotta come back in. Somebody's WiFi is bad,

0:20:47.480 --> 0:20:49.880
<v Speaker 4>we gotta cut back in. It's like they played by

0:20:49.880 --> 0:20:50.639
<v Speaker 4>Instagram rules.

0:20:52.320 --> 0:20:54.840
<v Speaker 3>Shout out to Swiss beach Man, we gotta get him on.

0:20:54.880 --> 0:20:56.960
<v Speaker 2>And Timbo and Timbo don't leave Timbo out.

0:20:57.000 --> 0:21:00.159
<v Speaker 3>Timbo to King, all right, we got we gotta go

0:21:00.200 --> 0:21:02.560
<v Speaker 3>to this before we run out of town. Distance learning

0:21:03.160 --> 0:21:05.560
<v Speaker 3>something that's near and dear to your heart. And also

0:21:05.680 --> 0:21:10.479
<v Speaker 3>this all relates to video conferencing. Distance learning is something

0:21:10.520 --> 0:21:13.359
<v Speaker 3>that is crazy because this is something that nobody ever

0:21:13.400 --> 0:21:15.359
<v Speaker 3>thought would happen. Nobody ever thought that school would be

0:21:15.400 --> 0:21:18.160
<v Speaker 3>completely shut down, like if anything, that's like a safe

0:21:18.160 --> 0:21:20.560
<v Speaker 3>haven where it's like, if all else fails, we go

0:21:20.600 --> 0:21:22.760
<v Speaker 3>to school, right, And it's like, now, this is like

0:21:22.840 --> 0:21:25.520
<v Speaker 3>New York City just announced that school's gonna be done

0:21:25.560 --> 0:21:28.600
<v Speaker 3>for the rest of the academic year, come back in September.

0:21:28.680 --> 0:21:31.560
<v Speaker 3>Me personally, maybe me personally, I don't think it's going

0:21:31.640 --> 0:21:34.479
<v Speaker 3>to start until twenty twenty one, possibly twenty twenty two.

0:21:34.600 --> 0:21:37.119
<v Speaker 3>People think I'm crazy with the twenty twenty two, but

0:21:37.200 --> 0:21:39.320
<v Speaker 3>this is this is my theory with twenty twenty two,

0:21:39.359 --> 0:21:42.440
<v Speaker 3>because they say, okay, social distance and the only reason

0:21:42.440 --> 0:21:45.120
<v Speaker 3>why this thing is starting to go down the corona

0:21:45.359 --> 0:21:48.160
<v Speaker 3>is that people have been inheriting in social just there's

0:21:48.200 --> 0:21:50.760
<v Speaker 3>no cure for it. It's not going anywhere. And then

0:21:50.800 --> 0:21:52.640
<v Speaker 3>they say that it's going to start to become seasonal,

0:21:52.840 --> 0:21:54.560
<v Speaker 3>so to probably die down and someone will come back

0:21:54.600 --> 0:21:56.680
<v Speaker 3>up in the winter. So it's like, all right, there's

0:21:56.680 --> 0:21:59.320
<v Speaker 3>no cure for it, right, the only way that you

0:21:59.359 --> 0:22:03.399
<v Speaker 3>can really maintain it is to have social distancing. So

0:22:03.600 --> 0:22:07.920
<v Speaker 3>until there's a cure, if we break social distancing, it's

0:22:07.960 --> 0:22:09.160
<v Speaker 3>going to flare back up again.

0:22:09.560 --> 0:22:11.520
<v Speaker 4>So I think what they're saying now is like the

0:22:11.600 --> 0:22:14.720
<v Speaker 4>faster they can get tests that will determine if somebody

0:22:14.760 --> 0:22:16.919
<v Speaker 4>has it or not. If they can multiply that and

0:22:16.960 --> 0:22:19.880
<v Speaker 4>a mass way, then they can start having people open

0:22:20.000 --> 0:22:20.560
<v Speaker 4>up some things.

0:22:20.760 --> 0:22:25.640
<v Speaker 3>So hopefully they said a vaccine twelve to eighteen months,

0:22:25.960 --> 0:22:28.440
<v Speaker 3>eighteen months away from that, so's if the vaccine is

0:22:28.480 --> 0:22:31.840
<v Speaker 3>eighteen months away, that's the end of twenty twenty one,

0:22:31.960 --> 0:22:33.080
<v Speaker 3>beginning of twenty twenty two.

0:22:33.200 --> 0:22:35.399
<v Speaker 4>But that's why the testing becomes even more important. So

0:22:35.440 --> 0:22:37.040
<v Speaker 4>like if I could, if I know, like we saw

0:22:37.040 --> 0:22:39.280
<v Speaker 4>in China, right, they have these thermal scanners, like when

0:22:39.320 --> 0:22:41.520
<v Speaker 4>you walk in a building, like wait, his temperature is

0:22:41.520 --> 0:22:43.720
<v Speaker 4>too high, Sir, we can't allow you in the building,

0:22:43.920 --> 0:22:45.439
<v Speaker 4>or sir, we can't allow you on the bus. Like

0:22:45.440 --> 0:22:48.439
<v Speaker 4>if they can get testing at that rate, then you

0:22:48.480 --> 0:22:50.720
<v Speaker 4>can slowly and I don't think it'll be full blown

0:22:50.800 --> 0:22:52.919
<v Speaker 4>like everybody's back outside, but you can slowly let some

0:22:52.920 --> 0:22:53.640
<v Speaker 4>people outside.

0:22:53.720 --> 0:22:56.480
<v Speaker 3>Yeah, and well there's another issue because a lot of

0:22:56.520 --> 0:23:00.360
<v Speaker 3>people are asymptomatic, so they don't even test, they don't

0:23:00.400 --> 0:23:04.280
<v Speaker 3>have a temperature, but their carriers. It's like ghostbusters, Like

0:23:04.280 --> 0:23:08.040
<v Speaker 3>you're fighting a situation that you can't see, you can't

0:23:08.080 --> 0:23:10.400
<v Speaker 3>determine who has it. So I say that to say,

0:23:11.240 --> 0:23:16.280
<v Speaker 3>social distancing and distance learning might be here to stay,

0:23:16.680 --> 0:23:19.040
<v Speaker 3>and especially if it starts to go pretty decent, it's

0:23:19.080 --> 0:23:20.879
<v Speaker 3>like what's the point of going back to school? But

0:23:20.920 --> 0:23:24.080
<v Speaker 3>not as issues right because it's like from a financial standpoint,

0:23:24.880 --> 0:23:28.480
<v Speaker 3>because this is a business podcast, a lot of parents

0:23:28.680 --> 0:23:31.960
<v Speaker 3>pay a lot of money for daycare. Nobody's talking about that.

0:23:32.119 --> 0:23:36.560
<v Speaker 3>The daycare industry. The daycare industry is in trouble, guys.

0:23:36.960 --> 0:23:39.440
<v Speaker 3>Those daycares cost a lot of money. I think when

0:23:39.600 --> 0:23:41.440
<v Speaker 3>my son was in daycares, paying like a thousand dollars

0:23:41.440 --> 0:23:41.720
<v Speaker 3>a month.

0:23:41.800 --> 0:23:45.120
<v Speaker 4>I had so we had our kids around the same age,

0:23:45.160 --> 0:23:47.680
<v Speaker 4>man we had and I was with you man, fifteen

0:23:47.760 --> 0:23:48.960
<v Speaker 4>hundred in the summer.

0:23:49.000 --> 0:23:49.640
<v Speaker 2>They raise a price.

0:23:49.680 --> 0:23:51.800
<v Speaker 4>It was fifteen hundred a month for a kid. I'm

0:23:51.840 --> 0:23:53.840
<v Speaker 4>like Yo, this is this is like college tuition.

0:23:54.080 --> 0:23:57.080
<v Speaker 3>Yeah, a three year old, Yeah, to just do nothing.

0:23:58.040 --> 0:24:01.520
<v Speaker 4>Let's not there, you always do that. Not the educators

0:24:01.520 --> 0:24:02.920
<v Speaker 4>that are in these places.

0:24:02.720 --> 0:24:04.200
<v Speaker 2>Right, not a shout out to them, but I mean

0:24:04.240 --> 0:24:05.280
<v Speaker 2>it's just it is what it is.

0:24:05.359 --> 0:24:08.600
<v Speaker 3>So now so now you got daycare, which is a

0:24:08.720 --> 0:24:12.560
<v Speaker 3>booming business, and so it's a necessary business because parents

0:24:12.560 --> 0:24:13.720
<v Speaker 3>have to go to work. That's the whole point of

0:24:13.720 --> 0:24:15.480
<v Speaker 3>having a daycare, right, parents have to go to work.

0:24:16.240 --> 0:24:19.959
<v Speaker 3>But now it's like if parents don't go to work

0:24:20.000 --> 0:24:21.880
<v Speaker 3>any because like, the school system is one thing. School

0:24:21.920 --> 0:24:24.000
<v Speaker 3>system is funded. It's a public they're public school.

0:24:24.000 --> 0:24:24.320
<v Speaker 2>Schools.

0:24:24.680 --> 0:24:26.639
<v Speaker 3>Private school are different. But we'll talk about public schools.

0:24:26.720 --> 0:24:28.560
<v Speaker 3>That's one thing because they're not gonna get shut down

0:24:28.560 --> 0:24:32.480
<v Speaker 3>because they're publicly funded. But you got these daycares which

0:24:32.560 --> 0:24:36.520
<v Speaker 3>are not publicly funded for the most part, and they're

0:24:36.760 --> 0:24:39.600
<v Speaker 3>tuition based. So now they don't have any money. So

0:24:39.640 --> 0:24:42.119
<v Speaker 3>now they're they're going to need to bail out. So

0:24:42.119 --> 0:24:44.040
<v Speaker 3>what a lot of them are doing is they're still billing.

0:24:44.080 --> 0:24:48.080
<v Speaker 3>They're still billing parents, they're not refunding any money, and

0:24:48.119 --> 0:24:52.040
<v Speaker 3>they're doing distance learning with kids in daycare. So the

0:24:52.119 --> 0:24:55.879
<v Speaker 3>parents is like, Okay, well why am I paying for

0:24:56.200 --> 0:24:59.440
<v Speaker 3>video conferences with my three year old when I still

0:24:59.440 --> 0:25:01.080
<v Speaker 3>got to work because a lot of people are still working.

0:25:01.359 --> 0:25:03.359
<v Speaker 4>Just think about the concert you just said, right, we're

0:25:03.359 --> 0:25:04.959
<v Speaker 4>doing a video conference with a three year old.

0:25:05.040 --> 0:25:06.160
<v Speaker 2>Number one, what.

0:25:06.320 --> 0:25:09.080
<v Speaker 4>Three year old even knows how to get on a

0:25:09.200 --> 0:25:10.480
<v Speaker 4>video conference platform?

0:25:10.520 --> 0:25:12.880
<v Speaker 2>So like that, it's a parents job now exactly.

0:25:12.920 --> 0:25:15.440
<v Speaker 3>But now so now the parents is like, like I said,

0:25:15.440 --> 0:25:17.159
<v Speaker 3>a lot of people unfortunately are out of work, but

0:25:17.640 --> 0:25:20.560
<v Speaker 3>a lot of people still are actually working from home.

0:25:21.000 --> 0:25:24.240
<v Speaker 3>So now you're trying to work from home and you're

0:25:24.520 --> 0:25:27.440
<v Speaker 3>trying to manage your three year old and you still

0:25:27.480 --> 0:25:29.879
<v Speaker 3>have to pay. You're still paying one thousand dollars a

0:25:29.920 --> 0:25:33.080
<v Speaker 3>month for your daycare because they didn't they didn't refund

0:25:33.119 --> 0:25:34.920
<v Speaker 3>you at least if you're paying like the whole year,

0:25:34.960 --> 0:25:36.639
<v Speaker 3>if you paid a couple months in advance, they they

0:25:36.680 --> 0:25:40.560
<v Speaker 3>haven't refunded you your money. So this is a whole

0:25:40.600 --> 0:25:44.320
<v Speaker 3>industry that might go under because there's a like Matt said,

0:25:44.359 --> 0:25:47.760
<v Speaker 3>commercial real estates on the clock. These are commercial real

0:25:47.880 --> 0:25:52.000
<v Speaker 3>estate properties. They're in commercial real estate buildings. Now their

0:25:52.040 --> 0:25:55.600
<v Speaker 3>rent might be twelve thousand dollars a month, ten thousand

0:25:55.600 --> 0:25:58.960
<v Speaker 3>dollars a month for rent and they have no income

0:25:59.000 --> 0:26:01.000
<v Speaker 3>that comes in for five months.

0:26:01.080 --> 0:26:01.639
<v Speaker 2>Let's save this.

0:26:02.280 --> 0:26:06.320
<v Speaker 3>So now that's fifty thousand dollars that they have they're

0:26:06.359 --> 0:26:06.879
<v Speaker 3>backed up on.

0:26:07.119 --> 0:26:07.920
<v Speaker 2>You know what I mean. That's it.

0:26:08.359 --> 0:26:11.320
<v Speaker 3>Every day care in America could shut their doors by

0:26:11.359 --> 0:26:13.080
<v Speaker 3>the time it opens back.

0:26:12.960 --> 0:26:14.320
<v Speaker 4>Up, and by the time it open backs up and

0:26:14.320 --> 0:26:16.120
<v Speaker 4>there's no where to put the kids, then what right,

0:26:16.200 --> 0:26:17.160
<v Speaker 4>it's a big it's a.

0:26:17.800 --> 0:26:20.560
<v Speaker 3>It's a effect that everybody. I don't think people understand.

0:26:20.640 --> 0:26:23.159
<v Speaker 3>It's like so many different areas that's getting effective by this.

0:26:23.280 --> 0:26:25.520
<v Speaker 4>Yeah, man, especially like you said that the distance learning

0:26:25.520 --> 0:26:28.680
<v Speaker 4>pieces is so key because number one, yeah, you are working,

0:26:28.720 --> 0:26:30.440
<v Speaker 4>but you are trying to teach your kids. So like

0:26:30.800 --> 0:26:32.520
<v Speaker 4>the number one thing, like I have to I have

0:26:32.560 --> 0:26:34.520
<v Speaker 4>two kids, So it was like the best thing I

0:26:34.520 --> 0:26:36.600
<v Speaker 4>could have ever done was made a schedule just so

0:26:36.640 --> 0:26:39.080
<v Speaker 4>we have some structure, right, So like creating a schedule

0:26:39.119 --> 0:26:40.760
<v Speaker 4>where they come in every morning, they know what they

0:26:40.760 --> 0:26:44.800
<v Speaker 4>have to do, they have their technology. I can sit

0:26:44.840 --> 0:26:46.959
<v Speaker 4>down and assiste my son who's in kindergarten, and then

0:26:47.000 --> 0:26:48.560
<v Speaker 4>I can go check out my daughters in third grade.

0:26:48.560 --> 0:26:50.879
<v Speaker 4>Even though my wife is home, she is working like

0:26:51.000 --> 0:26:52.760
<v Speaker 4>all day and it's like, yo, I can't. I can't

0:26:52.760 --> 0:26:55.600
<v Speaker 4>help you right now. So yeah, it's one thing to

0:26:55.720 --> 0:26:58.600
<v Speaker 4>have like people not in school, but like yo, the

0:26:58.640 --> 0:26:59.439
<v Speaker 4>work never stops.

0:26:59.440 --> 0:27:00.160
<v Speaker 2>It doesn't stop.

0:27:00.240 --> 0:27:02.080
<v Speaker 4>And so like if you if I wasn't a parent

0:27:02.119 --> 0:27:04.159
<v Speaker 4>who was in education, I couldn't even imagine, like how

0:27:04.200 --> 0:27:05.200
<v Speaker 4>am I going to help my kids?

0:27:05.720 --> 0:27:06.439
<v Speaker 2>That's what and that's what.

0:27:06.560 --> 0:27:08.439
<v Speaker 4>That's just one part right, Like, and I had this

0:27:08.480 --> 0:27:11.560
<v Speaker 4>conversation earlier. It was like I'm blessed to have the

0:27:11.640 --> 0:27:14.280
<v Speaker 4>technology with this. Families who don't have technology, you know

0:27:14.320 --> 0:27:16.040
<v Speaker 4>what I'm saying. So like this is learning is cool

0:27:16.040 --> 0:27:18.960
<v Speaker 4>if you have the technology to do it. There are

0:27:19.080 --> 0:27:22.160
<v Speaker 4>so many families in so many communities that don't have

0:27:22.200 --> 0:27:25.159
<v Speaker 4>the technology, so then they're just forgotten about. Right, So

0:27:25.240 --> 0:27:27.960
<v Speaker 4>now it's not even a situation of like yo, they're

0:27:28.040 --> 0:27:28.560
<v Speaker 4>learning or not.

0:27:28.640 --> 0:27:30.119
<v Speaker 2>This is like a have or have not.

0:27:30.359 --> 0:27:35.320
<v Speaker 4>We don't even have the socioeconomic resources to even distance learn.

0:27:35.520 --> 0:27:38.160
<v Speaker 4>So now that's like a forgotten population in a sense

0:27:38.400 --> 0:27:39.040
<v Speaker 4>because like how do.

0:27:39.040 --> 0:27:41.120
<v Speaker 2>They learn now? Like people were like, oh, we could

0:27:41.119 --> 0:27:41.800
<v Speaker 2>print out packets.

0:27:41.840 --> 0:27:43.800
<v Speaker 4>I'm like yeah, but then who goes against the package

0:27:43.880 --> 0:27:45.440
<v Speaker 4>and who turns them in and how do they get

0:27:45.440 --> 0:27:47.320
<v Speaker 4>to the person who's going to assess it. It's like

0:27:47.359 --> 0:27:50.159
<v Speaker 4>a whole like dominoal of things in education. It's just

0:27:50.240 --> 0:27:52.000
<v Speaker 4>like like this is real.

0:27:52.160 --> 0:27:55.360
<v Speaker 3>Yeah. And then also it's like a lot of kids

0:27:55.520 --> 0:27:58.639
<v Speaker 3>in school is more than just learning. Learning is not

0:27:58.720 --> 0:28:02.360
<v Speaker 3>even not even nothing when it comes to it. It's

0:28:02.359 --> 0:28:04.680
<v Speaker 3>like when I was watching Loupe Fiasco a few years

0:28:04.720 --> 0:28:06.879
<v Speaker 3>ago and he was like he was he was he

0:28:07.000 --> 0:28:11.119
<v Speaker 3>was speaking to a school in Chicago, and you know,

0:28:11.200 --> 0:28:14.080
<v Speaker 3>he was talking to the principal, and you know, he

0:28:14.200 --> 0:28:16.320
<v Speaker 3>was saying, the principal told him that, you know, the

0:28:16.400 --> 0:28:19.520
<v Speaker 3>majority of the kids only come.

0:28:19.400 --> 0:28:24.080
<v Speaker 2>To school to eat. Mm hmm. That's that's just the reality.

0:28:24.359 --> 0:28:26.199
<v Speaker 3>It's like it's like a lot of a lot of

0:28:26.280 --> 0:28:27.480
<v Speaker 3>kids go to school to eat.

0:28:27.600 --> 0:28:27.800
<v Speaker 2>Yeah.

0:28:27.880 --> 0:28:30.280
<v Speaker 4>And so the public schools, and in this area in

0:28:30.320 --> 0:28:32.560
<v Speaker 4>New York, the epicenter pretty much of the world at

0:28:32.560 --> 0:28:35.240
<v Speaker 4>this point, they still have the schools are still open

0:28:35.440 --> 0:28:37.439
<v Speaker 4>for just that. So like they do provide meals. But

0:28:37.480 --> 0:28:39.320
<v Speaker 4>then but again you have to go out.

0:28:39.360 --> 0:28:41.480
<v Speaker 3>But the problem isn't like people where it's not from

0:28:41.480 --> 0:28:43.800
<v Speaker 3>New York and made you know, most everywhere else in

0:28:43.800 --> 0:28:45.600
<v Speaker 3>the country, you go to school on the school bus.

0:28:45.800 --> 0:28:47.400
<v Speaker 3>If you if you're in New York City, go to

0:28:47.560 --> 0:28:50.800
<v Speaker 3>you go to school, you go to high school, middle school, elementary,

0:28:50.840 --> 0:28:54.280
<v Speaker 3>elementary school on the subway or the bus or the bus.

0:28:54.320 --> 0:28:56.480
<v Speaker 3>Subway or the bus. A lot of kids take the subway.

0:28:57.040 --> 0:29:00.880
<v Speaker 3>So that's now, that's really that's a difference. Now you're

0:29:00.920 --> 0:29:05.000
<v Speaker 3>going into social distancing. You got a hundred people packed

0:29:05.040 --> 0:29:07.360
<v Speaker 3>in a subway car because essential workers are still going

0:29:07.360 --> 0:29:10.719
<v Speaker 3>to work. So as far as just from a health standpoint,

0:29:10.920 --> 0:29:16.000
<v Speaker 3>you're literally sacrificing your life to eat. That's the reality.

0:29:16.080 --> 0:29:17.760
<v Speaker 4>Yeah, because and that's another thing, like people got to

0:29:17.840 --> 0:29:19.800
<v Speaker 4>understand the dynamics of how New York City is. It's

0:29:19.880 --> 0:29:23.120
<v Speaker 4>like you don't just go to school down the street

0:29:23.160 --> 0:29:25.000
<v Speaker 4>from your house, like some kids have to get on

0:29:25.040 --> 0:29:26.760
<v Speaker 4>two trains just to get to school. You know what

0:29:26.760 --> 0:29:28.960
<v Speaker 4>I'm saying. That might be on another side of the

0:29:29.040 --> 0:29:31.480
<v Speaker 4>county that you're in. So like that's a whole other thing, right,

0:29:31.520 --> 0:29:35.360
<v Speaker 4>And as soon as people go back whatever, you are

0:29:35.520 --> 0:29:37.880
<v Speaker 4>victim to anything that happens in these environments. So like

0:29:37.960 --> 0:29:40.880
<v Speaker 4>I've seen things like I remember taking buses like to

0:29:40.920 --> 0:29:44.200
<v Speaker 4>basketball games on the train and it was just like yo, whatever,

0:29:44.200 --> 0:29:46.800
<v Speaker 4>happens on that bus I'm responsible for and I have

0:29:46.880 --> 0:29:49.840
<v Speaker 4>fifteen kids with me, Like, people don't think about those factors. Like,

0:29:49.840 --> 0:29:51.840
<v Speaker 4>so if something happens on that bus, somebody get shot, stabbed,

0:29:51.920 --> 0:29:54.320
<v Speaker 4>there's a fight, we're all part of it now. And

0:29:54.360 --> 0:29:56.560
<v Speaker 4>like those are factors that we didn't have to, like

0:29:56.680 --> 0:29:58.760
<v Speaker 4>have to worry about going to school, but these kids do.

0:29:59.400 --> 0:30:02.960
<v Speaker 3>Yeah, So I mean it's a lot, man, it's a

0:30:03.000 --> 0:30:06.280
<v Speaker 3>lot to unpack there with the distance learning. But I

0:30:06.320 --> 0:30:09.760
<v Speaker 3>think that from a business standpoint, it's gonna it's gonna

0:30:09.760 --> 0:30:12.320
<v Speaker 3>have ripple effects because like the longer you keep kids

0:30:12.360 --> 0:30:17.040
<v Speaker 3>out of school, now parents can't effectively work. So now

0:30:17.160 --> 0:30:19.840
<v Speaker 3>there's no really hope of them getting back into the workforce.

0:30:19.880 --> 0:30:24.440
<v Speaker 3>The average person can't, you know, doesn't have a job

0:30:24.760 --> 0:30:26.920
<v Speaker 3>where they can just take months off at a time.

0:30:26.960 --> 0:30:30.320
<v Speaker 3>So let's say that hypothetically their job opens back up

0:30:30.360 --> 0:30:32.040
<v Speaker 3>and they can they can go to work, but their

0:30:32.160 --> 0:30:35.240
<v Speaker 3>kid is home. What do you do. You either leave

0:30:35.280 --> 0:30:37.800
<v Speaker 3>your kid by itself or you're not working.

0:30:38.160 --> 0:30:39.080
<v Speaker 2>That's a fact, you know.

0:30:39.200 --> 0:30:41.800
<v Speaker 4>And another part of this is, in my petition, is

0:30:41.800 --> 0:30:44.640
<v Speaker 4>there's going to be education reform, right because like what

0:30:44.800 --> 0:30:47.360
<v Speaker 4>is happening throughout the So the SAT gets canceled and

0:30:47.480 --> 0:30:50.480
<v Speaker 4>the ACT gets canceled. All these standardized tests that people

0:30:50.600 --> 0:30:53.240
<v Speaker 4>realize like, yo, we don't even need that to graduate anymore.

0:30:53.280 --> 0:30:55.480
<v Speaker 4>Like that changes it from a business standpoint, like these

0:30:55.480 --> 0:30:58.120
<v Speaker 4>companies are being millions and billions of dollars to have

0:30:58.200 --> 0:31:00.520
<v Speaker 4>their tests given to states, and now it's like, wait,

0:31:01.040 --> 0:31:04.320
<v Speaker 4>we didn't really need that, So that changes I think

0:31:04.360 --> 0:31:07.320
<v Speaker 4>going forward. And as far as distance learning, another part

0:31:07.320 --> 0:31:09.920
<v Speaker 4>of it is how much of it is are we

0:31:09.960 --> 0:31:10.640
<v Speaker 4>really assessing?

0:31:10.760 --> 0:31:11.600
<v Speaker 2>It's like, if we're.

0:31:11.440 --> 0:31:14.200
<v Speaker 4>Not going to be able to check the work, how

0:31:14.760 --> 0:31:16.320
<v Speaker 4>what is the level of work we should be given?

0:31:16.480 --> 0:31:19.040
<v Speaker 4>And then who's creating the rigor like how difficult the

0:31:19.080 --> 0:31:22.320
<v Speaker 4>work is. I think education reform is the next wave

0:31:22.520 --> 0:31:23.560
<v Speaker 4>that comes out.

0:31:23.320 --> 0:31:23.760
<v Speaker 2>Out of this.

0:31:24.880 --> 0:31:29.160
<v Speaker 3>Well we'll see all my teachers stay strong, yeah, yeah,

0:31:29.320 --> 0:31:31.520
<v Speaker 3>stay strong and staying couraged real quick.

0:31:31.520 --> 0:31:31.600
<v Speaker 2>This.

0:31:31.640 --> 0:31:33.480
<v Speaker 4>So the platform we didn't talk about the platforms that

0:31:33.480 --> 0:31:36.040
<v Speaker 4>teachers can use. So Skype is a platform that New

0:31:36.120 --> 0:31:38.640
<v Speaker 4>York City is looking into. Also Google Classroom and there

0:31:38.680 --> 0:31:41.600
<v Speaker 4>is Google Hangout. So Google Hangout is very similar to

0:31:41.680 --> 0:31:44.880
<v Speaker 4>like Zoom where it's inside the Google platform, So there's

0:31:44.920 --> 0:31:47.480
<v Speaker 4>not those same type of security, medicine. Those are platforms

0:31:47.520 --> 0:31:50.320
<v Speaker 4>that educators are using right now. We personally use in

0:31:50.360 --> 0:31:53.160
<v Speaker 4>my district Google Classroom and it works pretty well.

0:31:53.600 --> 0:31:54.200
<v Speaker 2>There you have it.

0:31:54.320 --> 0:31:56.400
<v Speaker 3>So in the next segment, we're going to talk about

0:31:56.800 --> 0:32:00.400
<v Speaker 3>the unemployment, not just the unemployment, you know, bad news,

0:32:00.400 --> 0:32:02.400
<v Speaker 3>but we're gonna talk about different things that people have

0:32:02.480 --> 0:32:05.440
<v Speaker 3>available to them and different options if you do lose

0:32:05.480 --> 0:32:07.959
<v Speaker 3>your job or if you're in uh, lose your job

0:32:08.000 --> 0:32:10.720
<v Speaker 3>in the future. Financially, it's a whole different ball game

0:32:10.760 --> 0:32:12.640
<v Speaker 3>that you have to think about. So we're gonna go

0:32:12.680 --> 0:32:15.360
<v Speaker 3>into that next. All right, So in this topic, we're

0:32:15.400 --> 0:32:17.920
<v Speaker 3>going to talk about something that's extremely, extremely so everything

0:32:17.920 --> 0:32:19.440
<v Speaker 3>we talked about seriously serious times.

0:32:19.520 --> 0:32:21.080
<v Speaker 2>Right then, what this is?

0:32:21.160 --> 0:32:23.840
<v Speaker 3>This is an economic title wave. Like it's one thing,

0:32:23.920 --> 0:32:26.800
<v Speaker 3>the health issue is crazy. The financial issue might even

0:32:26.840 --> 0:32:31.520
<v Speaker 3>be more dangerous because that's going to hurt people that's

0:32:31.520 --> 0:32:33.600
<v Speaker 3>not affected by it, Like you know what I mean,

0:32:33.640 --> 0:32:34.760
<v Speaker 3>if you think about it, it's like.

0:32:36.400 --> 0:32:38.640
<v Speaker 4>This episode is brought to you by P and C Bank.

0:32:39.040 --> 0:32:41.800
<v Speaker 4>A lot of people think podcasts about work are boring,

0:32:42.040 --> 0:32:45.840
<v Speaker 4>and sure they definitely can be, but understanding of professionals

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<v Speaker 4>National Association member fdic.

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<v Speaker 2>Erners What's Up?

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<v Speaker 4>You ever walk into a small business and everything just

0:33:23.000 --> 0:33:26.200
<v Speaker 4>works like the checkout is fast, the receipts are digital,

0:33:26.720 --> 0:33:29.680
<v Speaker 4>tipping is a breeze, and you're out the door before

0:33:29.680 --> 0:33:33.840
<v Speaker 4>the line even builds odds are they're using Square. We

0:33:34.000 --> 0:33:36.560
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0:33:36.600 --> 0:33:37.400
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0:33:37.520 --> 0:33:39.240
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0:33:38.840 --> 0:33:41.640
<v Speaker 4>Shop, a vendor at a pop up market, or even

0:33:41.680 --> 0:33:44.680
<v Speaker 4>one of our merch partners. Square makes it easy for

0:33:44.760 --> 0:33:48.240
<v Speaker 4>them to take payments, manage inventory, and run their business

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<v Speaker 4>with confidence, all from one simple system. If you're a

0:33:51.960 --> 0:33:55.120
<v Speaker 4>business owner or even just thinking about launching something soon,

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0:33:58.080 --> 0:34:01.360
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0:34:01.480 --> 0:34:04.680
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0:34:26.800 --> 0:34:28.920
<v Speaker 5>Buying a car and Carvana was so easy. I was

0:34:28.960 --> 0:34:31.200
<v Speaker 5>able to finance it through them. I just, oh, wait,

0:34:31.280 --> 0:34:34.400
<v Speaker 5>you mean finance. Yeah, finance, got pre qualified for a

0:34:34.440 --> 0:34:37.040
<v Speaker 5>Carvana Auto loan, entered my terms, and shot from thousands

0:34:37.080 --> 0:34:39.279
<v Speaker 5>of great car options, always in my budget. That's cool.

0:34:39.360 --> 0:34:43.080
<v Speaker 5>But financing through Carvana was so easy. Financed, done, and

0:34:43.120 --> 0:34:44.760
<v Speaker 5>I get to pick up my car from their Carvana

0:34:44.840 --> 0:34:46.760
<v Speaker 5>venue machine tomorrow by financed.

0:34:46.920 --> 0:34:47.759
<v Speaker 6>Right, That's what I said.

0:34:47.840 --> 0:34:50.320
<v Speaker 5>You can spend time trying to pronounce financing, or you

0:34:50.360 --> 0:34:53.600
<v Speaker 5>can actually finance and buy your car today on on

0:34:53.760 --> 0:34:56.280
<v Speaker 5>a financing subject to credit approval. Additional terms and conditions

0:34:56.280 --> 0:34:56.640
<v Speaker 5>may apply.

0:34:56.920 --> 0:34:59.200
<v Speaker 3>They say, Okay, let's say the vast majority of the

0:34:59.239 --> 0:35:04.359
<v Speaker 3>population and have this virus yet, but a large portion

0:35:04.960 --> 0:35:09.720
<v Speaker 3>could be financially crippled by like one percent of the population.

0:35:09.800 --> 0:35:12.160
<v Speaker 3>If they have, it could affect forty percent of the population.

0:35:12.560 --> 0:35:15.520
<v Speaker 3>So the unemployment numbers right now is crazy due to

0:35:15.520 --> 0:35:19.719
<v Speaker 3>the group seventeen million unemployed within the last three weeks,

0:35:19.760 --> 0:35:22.319
<v Speaker 3>which is eleven percent unemployments up to eleven percent right now.

0:35:22.360 --> 0:35:24.719
<v Speaker 3>They said that the real unemployment is probably in the teens.

0:35:25.120 --> 0:35:30.920
<v Speaker 3>But the Saint Louis FED just released a report a

0:35:30.960 --> 0:35:36.080
<v Speaker 3>few days ago where they said their projections that unemployment

0:35:36.080 --> 0:35:40.840
<v Speaker 3>can get up to forty seven million people unemployed. Sixty

0:35:40.920 --> 0:35:44.880
<v Speaker 3>seven million people are currently at risk of losing their

0:35:44.960 --> 0:35:46.759
<v Speaker 3>job by there in the industry. That's a high risk

0:35:46.760 --> 0:35:48.719
<v Speaker 3>of losing their job. And if the sort of the

0:35:48.760 --> 0:35:52.320
<v Speaker 3>forty seven million number is actually reached, that equals thirty

0:35:52.360 --> 0:35:57.200
<v Speaker 3>two percent unemployment. That's unhistoric. Just to kind of put

0:35:57.200 --> 0:36:01.080
<v Speaker 3>things in perspective, the Great Depression playing was around twenty

0:36:01.080 --> 0:36:04.560
<v Speaker 3>three percent. So we look worst case in their hopefully.

0:36:04.280 --> 0:36:06.480
<v Speaker 2>Doesn't for long duration, right like two or three years.

0:36:06.600 --> 0:36:08.719
<v Speaker 3>Yeah, the worst case, and the thing with this is

0:36:08.719 --> 0:36:10.640
<v Speaker 3>that it just happened so quick, within a couple of weeks.

0:36:10.719 --> 0:36:11.200
<v Speaker 2>That's crazy.

0:36:11.239 --> 0:36:14.280
<v Speaker 3>So worst case scenario, thirty two percent of the population

0:36:14.400 --> 0:36:17.160
<v Speaker 3>will be unemployed. So with that, it's a lot of

0:36:17.200 --> 0:36:19.279
<v Speaker 3>things that come into play when you lose your job. Right,

0:36:20.000 --> 0:36:21.480
<v Speaker 3>So we're going to talk about a couple of different

0:36:21.520 --> 0:36:24.000
<v Speaker 3>things that if somebody has lost their job, somebody knows

0:36:24.000 --> 0:36:26.160
<v Speaker 3>somebody that has lost their job, somebody's spouse has lost

0:36:26.239 --> 0:36:28.560
<v Speaker 3>their job, somebody that might lose their job in the future.

0:36:28.920 --> 0:36:30.719
<v Speaker 3>These are all important things because it's like, you never

0:36:30.760 --> 0:36:32.400
<v Speaker 3>think you can lose your job until it happens.

0:36:32.480 --> 0:36:32.640
<v Speaker 2>Right.

0:36:32.719 --> 0:36:35.480
<v Speaker 4>Nobody prepared for this, right, well, nobody was aware that

0:36:35.520 --> 0:36:37.600
<v Speaker 4>this was going to happen. Some people have prepared, but

0:36:37.640 --> 0:36:40.040
<v Speaker 4>nobody specs like, Yo, I'm working in March tenth and

0:36:40.320 --> 0:36:41.960
<v Speaker 4>March seventeenth, I'm no longer have a job.

0:36:42.120 --> 0:36:42.480
<v Speaker 2>Yeah.

0:36:42.520 --> 0:36:44.640
<v Speaker 3>So the first thing we're talking about is retirement benefits.

0:36:44.840 --> 0:36:47.880
<v Speaker 3>And we talked about this before retirement plans, but so

0:36:48.480 --> 0:36:51.840
<v Speaker 3>the government the Cares Act, that is the stimulus package,

0:36:52.800 --> 0:36:56.120
<v Speaker 3>they changed the laws for retirement plans for this year.

0:36:56.160 --> 0:36:57.719
<v Speaker 3>A couple of things that people should be aware of.

0:36:58.040 --> 0:36:59.960
<v Speaker 3>So if you have a fall one K plan or

0:37:00.000 --> 0:37:02.759
<v Speaker 3>similar type of retirement plan, you are now able to

0:37:02.800 --> 0:37:04.680
<v Speaker 3>take money out if you're no longer work, and you

0:37:04.719 --> 0:37:07.960
<v Speaker 3>can take money out without a ten percent penalty tax.

0:37:07.760 --> 0:37:08.720
<v Speaker 2>For this year. That's important.

0:37:08.960 --> 0:37:11.480
<v Speaker 3>So previously it was a ten percent penalty. Like, if

0:37:11.480 --> 0:37:13.120
<v Speaker 3>you took money out before fifty nine and a half,

0:37:13.120 --> 0:37:15.360
<v Speaker 3>you pay a ten percent penalty, state federal tax, and

0:37:15.400 --> 0:37:17.759
<v Speaker 3>a teen percent penalty tax if you take it out prematurely.

0:37:18.080 --> 0:37:20.600
<v Speaker 3>This year, you can take money out prematurely if you

0:37:20.600 --> 0:37:23.719
<v Speaker 3>can prove you were affected by corona virus, which is

0:37:23.760 --> 0:37:24.759
<v Speaker 3>a majority of people.

0:37:24.920 --> 0:37:25.680
<v Speaker 2>It shouldn't be that hard.

0:37:25.680 --> 0:37:28.600
<v Speaker 4>That's crazy, Like, think about that, Like that penalty, you're

0:37:28.600 --> 0:37:32.360
<v Speaker 4>talking almost forty percent your paying it's almost like a

0:37:32.440 --> 0:37:34.440
<v Speaker 4>forty Like say, if you count state tax, right, we

0:37:34.480 --> 0:37:36.879
<v Speaker 4>live in New York State, you count the federal plus

0:37:36.880 --> 0:37:39.279
<v Speaker 4>the tempercent, you're almost talking forty percent of the money

0:37:39.320 --> 0:37:41.600
<v Speaker 4>that you're trying to take is being taken out taken away.

0:37:41.600 --> 0:37:43.799
<v Speaker 3>Probably more than that depends on your tax bracket. But

0:37:44.520 --> 0:37:46.799
<v Speaker 3>so yeah, so that's that's that's done for this year.

0:37:48.480 --> 0:37:50.960
<v Speaker 3>There's a thing called a sixty day rule where if

0:37:51.000 --> 0:37:52.879
<v Speaker 3>you take money out of a retirement like let's say

0:37:52.880 --> 0:37:55.520
<v Speaker 3>you take money out of IRA, and usually you have

0:37:55.600 --> 0:37:57.840
<v Speaker 3>sixty days to put it back in before you get taxed.

0:37:58.160 --> 0:38:00.480
<v Speaker 3>That's been stretched double. So it's a hund in twenty

0:38:00.560 --> 0:38:04.280
<v Speaker 3>days this year without paying a penalty. They've also allowed

0:38:04.320 --> 0:38:06.880
<v Speaker 3>the amount of loans from your four one K to

0:38:06.920 --> 0:38:10.360
<v Speaker 3>go up. So you know, previously with fifty thousand dollars

0:38:10.440 --> 0:38:14.520
<v Speaker 3>with the max, now it's one hundred thousand dollars. So

0:38:14.560 --> 0:38:18.799
<v Speaker 3>that's changed this year as well. Rm ds required minimum distribution.

0:38:19.400 --> 0:38:21.319
<v Speaker 3>That's like, when you reach seventy and a half, you

0:38:21.400 --> 0:38:23.879
<v Speaker 3>have to start taking money from a retirement account. That's

0:38:23.920 --> 0:38:28.600
<v Speaker 3>waived for this year. Inherited iras like, so if you

0:38:28.600 --> 0:38:31.600
<v Speaker 3>have a parent that's passed away and you inherited their

0:38:31.640 --> 0:38:34.160
<v Speaker 3>four one K, you have to take an rm D,

0:38:34.239 --> 0:38:35.839
<v Speaker 3>like you have to take some money out every year,

0:38:36.239 --> 0:38:38.359
<v Speaker 3>but that's been waived for this year. So the reason

0:38:38.360 --> 0:38:40.719
<v Speaker 3>why they made all these provisions for retirement account is

0:38:40.760 --> 0:38:42.960
<v Speaker 3>that they know that, you know, middle class, working class,

0:38:43.080 --> 0:38:46.120
<v Speaker 3>average American, the majority of the money that they have

0:38:46.160 --> 0:38:47.480
<v Speaker 3>saved is in a retirement account.

0:38:47.480 --> 0:38:49.560
<v Speaker 4>I think it was a statistic, right, sixty six percent

0:38:49.600 --> 0:38:51.759
<v Speaker 4>of Americans don't have a thousand dollars in the savings.

0:38:52.040 --> 0:38:53.520
<v Speaker 4>So the first place that we're going to look for

0:38:53.560 --> 0:38:54.920
<v Speaker 4>money is retirement acount.

0:38:55.000 --> 0:38:57.000
<v Speaker 3>Yeah, so but the problem we're taking money from your

0:38:57.000 --> 0:38:59.799
<v Speaker 3>assirement account. Obviously you deplete your retirement, but also you

0:38:59.800 --> 0:39:02.200
<v Speaker 3>pay a bunch of taxes. So that's why they try

0:39:02.239 --> 0:39:04.400
<v Speaker 3>to make some provisions for this year. So if people

0:39:04.400 --> 0:39:06.760
<v Speaker 3>who have no other option and they have to take money,

0:39:07.120 --> 0:39:09.480
<v Speaker 3>then that's an option that you know is available to them.

0:39:09.520 --> 0:39:11.719
<v Speaker 3>But so that's important for people to understand is that

0:39:11.760 --> 0:39:15.400
<v Speaker 3>those options have changed and different provisions have changed this

0:39:15.560 --> 0:39:20.120
<v Speaker 3>year for the unpreceed situation that we're in, and a

0:39:20.120 --> 0:39:22.120
<v Speaker 3>lot of times, like when you're when you're you're leaving

0:39:22.160 --> 0:39:24.000
<v Speaker 3>a job, it's a lot to think about. So a

0:39:24.000 --> 0:39:26.120
<v Speaker 3>lot of times it's like you don't really make the

0:39:26.120 --> 0:39:30.040
<v Speaker 3>best financial decisions. But options that you have available to

0:39:30.120 --> 0:39:32.520
<v Speaker 3>you can roll into an IRA. We spoke about that

0:39:32.560 --> 0:39:34.759
<v Speaker 3>before in the podcast, where you can actually roll money

0:39:34.760 --> 0:39:37.239
<v Speaker 3>from a four to one K or a pension plan

0:39:37.320 --> 0:39:40.560
<v Speaker 3>into an IRA, right, So that's important to understand the

0:39:40.560 --> 0:39:44.399
<v Speaker 3>benefits of that. With the IRA, usually have more flexibility,

0:39:44.440 --> 0:39:47.360
<v Speaker 3>you have greater diversification, you can work with an advisor,

0:39:47.400 --> 0:39:49.480
<v Speaker 3>you can kind of pick and choose the investments as

0:39:49.520 --> 0:39:51.880
<v Speaker 3>opposed to the ones that's just chosen for you in

0:39:51.920 --> 0:39:55.760
<v Speaker 3>the four one K, So that's important. And then also

0:39:56.080 --> 0:40:00.680
<v Speaker 3>for union jobs. So a lot of union jobs haven't

0:40:00.719 --> 0:40:06.240
<v Speaker 3>been affected yet, but we're in unprecedented times, so nothing

0:40:06.320 --> 0:40:10.799
<v Speaker 3>is really secure. Like I mean, usually we say, okay, teachers, firefighters,

0:40:10.880 --> 0:40:14.200
<v Speaker 3>cops can't get fired because the union is too strong.

0:40:14.239 --> 0:40:18.279
<v Speaker 3>It's like those kind of jobs. But how long can

0:40:18.320 --> 0:40:20.600
<v Speaker 3>we go without you know what I'm saying, It's like

0:40:20.920 --> 0:40:23.600
<v Speaker 3>everything's going to be on the table soon. So, you know,

0:40:23.640 --> 0:40:26.000
<v Speaker 3>re union jobs, or if you're retired, or you know,

0:40:26.000 --> 0:40:29.000
<v Speaker 3>you have a pension plan, that's important to take into

0:40:29.040 --> 0:40:30.839
<v Speaker 3>consideration as well, because a lot of time people don't fully

0:40:30.880 --> 0:40:34.200
<v Speaker 3>understand how pension's work and the different options that you

0:40:34.200 --> 0:40:36.680
<v Speaker 3>you know, you can do when you when you leave

0:40:36.719 --> 0:40:38.879
<v Speaker 3>a job with the pension, like you can roll it over,

0:40:39.080 --> 0:40:41.880
<v Speaker 3>or you can start taking a lifetime income or the

0:40:41.920 --> 0:40:46.960
<v Speaker 3>spousal income. So understanding your retirement account is extremely extremely

0:40:47.000 --> 0:40:50.600
<v Speaker 3>important when you leave a job because now that is

0:40:50.719 --> 0:40:55.160
<v Speaker 3>transitioned from the job having control over it to you

0:40:55.160 --> 0:40:57.080
<v Speaker 3>can actually take control over it. And like I said,

0:40:57.160 --> 0:40:59.319
<v Speaker 3>especially now, like we're talking about the self directed IRA,

0:41:00.520 --> 0:41:03.200
<v Speaker 3>and like that's an option for people or if they

0:41:03.200 --> 0:41:05.239
<v Speaker 3>want to move into a traditional IRA or if they

0:41:05.239 --> 0:41:08.120
<v Speaker 3>have a raw IRA, or they have an inherited ira

0:41:08.120 --> 0:41:11.719
<v Speaker 3>if somebody passed away, right, And it's like now more

0:41:11.760 --> 0:41:16.000
<v Speaker 3>than ever, you need to be financially educated, financially literate

0:41:16.520 --> 0:41:20.279
<v Speaker 3>because these things are extremely important. We actually just did

0:41:20.320 --> 0:41:24.680
<v Speaker 3>a class Yo University about this, like one hour and

0:41:24.719 --> 0:41:26.120
<v Speaker 3>a half about retirement planet.

0:41:26.280 --> 0:41:29.000
<v Speaker 4>But that that class in itself man like and we've

0:41:29.000 --> 0:41:32.040
<v Speaker 4>spoken about this before, but like that class was like

0:41:32.120 --> 0:41:33.799
<v Speaker 4>super informative because I learned some things.

0:41:33.800 --> 0:41:36.359
<v Speaker 2>I'm like, oh okay, because, like you said, being in.

0:41:36.400 --> 0:41:38.520
<v Speaker 4>Education, being in the Union is like, all right, we're

0:41:38.520 --> 0:41:41.239
<v Speaker 4>strong now, but like, Yo, what happens in September when

0:41:41.239 --> 0:41:44.640
<v Speaker 4>they're like listen, we're cutting salaries in half or nobody's

0:41:44.640 --> 0:41:45.960
<v Speaker 4>getting a salary, you know what I'm saying.

0:41:46.000 --> 0:41:47.480
<v Speaker 2>It becomes a real situation.

0:41:47.280 --> 0:41:49.040
<v Speaker 3>Comes to issue. And then another thing we're retiring plan

0:41:49.160 --> 0:41:50.960
<v Speaker 3>is like even if you add a job or if

0:41:50.960 --> 0:41:54.479
<v Speaker 3>you you know, my personal opinion is that if you're young,

0:41:55.280 --> 0:41:58.120
<v Speaker 3>ride it out because we the market. The markets already

0:41:58.120 --> 0:42:00.680
<v Speaker 3>starting to go back up, which is a whole different conversation.

0:42:01.280 --> 0:42:02.480
<v Speaker 2>But a lot of times.

0:42:02.280 --> 0:42:04.399
<v Speaker 3>People panic and they see that full one K goes

0:42:04.440 --> 0:42:07.640
<v Speaker 3>down and they want to cash their money out. So

0:42:07.680 --> 0:42:10.440
<v Speaker 3>that's not really probably the best option because now you

0:42:10.520 --> 0:42:13.920
<v Speaker 3>pay penalties, you pay taxes, and you lose the future growth.

0:42:14.239 --> 0:42:16.759
<v Speaker 3>Where it's like you can just stay the course, or

0:42:16.800 --> 0:42:18.239
<v Speaker 3>you can change how you're allocate, Like you can go

0:42:18.280 --> 0:42:20.279
<v Speaker 3>to a money market account. If you really don't have

0:42:20.280 --> 0:42:21.880
<v Speaker 3>the stomach for stock market, you can always go to

0:42:21.880 --> 0:42:23.600
<v Speaker 3>the money market. People don't understand that. They feel like

0:42:23.600 --> 0:42:26.759
<v Speaker 3>they either have to be fully in invested or they

0:42:26.760 --> 0:42:28.480
<v Speaker 3>have to take that money out. The money market is

0:42:28.600 --> 0:42:31.520
<v Speaker 3>kind of like a sideline where it's like a savings account.

0:42:31.520 --> 0:42:34.560
<v Speaker 3>Pretty much, it's every four one k every il has

0:42:34.560 --> 0:42:37.080
<v Speaker 3>a money market, every single one of them. The money

0:42:37.080 --> 0:42:39.879
<v Speaker 3>market is like a timeout, like you're still in it.

0:42:39.960 --> 0:42:42.080
<v Speaker 3>You don't take the money out, you're not paying any penalty,

0:42:42.080 --> 0:42:44.640
<v Speaker 3>you're not paying any tax. It's still invested, but it's

0:42:44.680 --> 0:42:48.840
<v Speaker 3>not actually in any investment poll. It's just the you know,

0:42:48.920 --> 0:42:51.320
<v Speaker 3>money market. So that's an option that people should be

0:42:51.400 --> 0:42:54.640
<v Speaker 3>aware of. If you feel like this market is just

0:42:54.760 --> 0:42:58.000
<v Speaker 3>too roller coaster for you and you don't feel you

0:42:58.040 --> 0:43:01.399
<v Speaker 3>feel nervous. I got said, I would suggest stay in,

0:43:02.239 --> 0:43:04.800
<v Speaker 3>but if you don't, that's an option before you just

0:43:04.840 --> 0:43:06.600
<v Speaker 3>take your money out. A lot of people don't understand

0:43:06.600 --> 0:43:08.120
<v Speaker 3>that you don't have to just take your money out.

0:43:08.160 --> 0:43:11.200
<v Speaker 3>You can just put it in a money market, wait

0:43:11.239 --> 0:43:13.880
<v Speaker 3>for a minute, wait for things to come back, and

0:43:13.920 --> 0:43:15.640
<v Speaker 3>then you can come jump back in the market.

0:43:16.000 --> 0:43:17.920
<v Speaker 2>Yeah, it's gonna take some pages, man, waiting for things

0:43:17.960 --> 0:43:19.360
<v Speaker 2>to come back. In this climate.

0:43:19.440 --> 0:43:21.400
<v Speaker 3>It's already coming back. I mean the market. If you

0:43:21.440 --> 0:43:24.000
<v Speaker 3>follow the stock market, the stock market's been booming.

0:43:23.880 --> 0:43:26.560
<v Speaker 2>And that that is something like we've got a conversation.

0:43:27.080 --> 0:43:31.120
<v Speaker 4>I'm not sure or quite understand because if you see

0:43:31.280 --> 0:43:33.680
<v Speaker 4>right this tidal wave of its coming of people being unemployed,

0:43:33.680 --> 0:43:37.160
<v Speaker 4>people not having income, people not having funds, how does

0:43:37.200 --> 0:43:38.319
<v Speaker 4>the market keep going up?

0:43:40.400 --> 0:43:42.440
<v Speaker 3>Well, one of the things whise it goes up is

0:43:42.480 --> 0:43:45.640
<v Speaker 3>that it's in the last recession, we had a thing

0:43:45.719 --> 0:43:49.839
<v Speaker 3>called quantitative eason where the FED just pumped money into

0:43:49.880 --> 0:43:53.640
<v Speaker 3>the and now this is like that on steroids. So

0:43:54.040 --> 0:43:58.279
<v Speaker 3>they're pumping trillions, literally trillions of dollars into the economy

0:43:58.680 --> 0:44:01.279
<v Speaker 3>to prop it up. So it's like on stilt right now. Right,

0:44:02.440 --> 0:44:06.000
<v Speaker 3>that's one reason, because it's so much money being pumped

0:44:06.040 --> 0:44:09.200
<v Speaker 3>into it. And the FED has said on national television

0:44:09.280 --> 0:44:12.319
<v Speaker 3>that it will print as much money as we they have.

0:44:12.400 --> 0:44:15.120
<v Speaker 3>The Green light from the government to print as much

0:44:15.160 --> 0:44:18.279
<v Speaker 3>money as possible. So people need to understand, like the

0:44:18.280 --> 0:44:21.040
<v Speaker 3>Federal Reserve, the Federal Reserve is actually not part of

0:44:21.040 --> 0:44:24.200
<v Speaker 3>the United States government. It's a whole separate entity. That's

0:44:24.200 --> 0:44:27.000
<v Speaker 3>a whole different conversation. But the Federal Reserve was set

0:44:27.080 --> 0:44:31.840
<v Speaker 3>up after the Great Depression by the wealthiest elites to

0:44:31.920 --> 0:44:35.520
<v Speaker 3>make sure that the Great Depression never happens again. And

0:44:35.560 --> 0:44:38.080
<v Speaker 3>then there's a lot of other stuff, conspiracy theories into it,

0:44:38.160 --> 0:44:38.720
<v Speaker 3>we won't.

0:44:38.560 --> 0:44:39.160
<v Speaker 2>Go into it.

0:44:39.520 --> 0:44:44.480
<v Speaker 3>But so the Federal Reserve's bank is an outside entity

0:44:44.760 --> 0:44:50.720
<v Speaker 3>that controls the currency, and they really have free range

0:44:50.800 --> 0:44:53.799
<v Speaker 3>to manipulate the market however they want. So, like when

0:44:53.840 --> 0:44:55.879
<v Speaker 3>you see the Fed's lower interest rates, like at any

0:44:55.880 --> 0:44:57.799
<v Speaker 3>point in time, the Feds want a lower interest rates

0:44:57.800 --> 0:44:59.920
<v Speaker 3>they can lower. They want to raise interest rates that

0:45:00.040 --> 0:45:03.719
<v Speaker 3>can raise them. They want to stop printing money, slow down,

0:45:04.000 --> 0:45:06.359
<v Speaker 3>they want to print more money. So right now they're

0:45:06.400 --> 0:45:09.480
<v Speaker 3>just they're just flooding the streets for money right now.

0:45:10.239 --> 0:45:11.720
<v Speaker 4>And that's the thing, Like when you flood the streets

0:45:11.719 --> 0:45:13.040
<v Speaker 4>for money, and what does that do to the value

0:45:13.080 --> 0:45:15.360
<v Speaker 4>of the dollar, and how you stop inflation from happening.

0:45:15.400 --> 0:45:18.040
<v Speaker 4>It's like a big So those are like big dominoes, right,

0:45:18.080 --> 0:45:21.160
<v Speaker 4>Like when we see that on a scale, it's like,

0:45:21.200 --> 0:45:22.040
<v Speaker 4>all right, that makes sense.

0:45:22.080 --> 0:45:23.240
<v Speaker 2>But until you go to the supermarket.

0:45:23.320 --> 0:45:25.400
<v Speaker 4>Now your milk is ten dollars and you have no

0:45:25.480 --> 0:45:27.480
<v Speaker 4>money to get it, It's like, all right, we're back

0:45:27.520 --> 0:45:28.399
<v Speaker 4>to survival mode.

0:45:28.520 --> 0:45:32.759
<v Speaker 3>Yeah, So that's the delicate situation. So most people think

0:45:32.800 --> 0:45:34.640
<v Speaker 3>at some point, I mean I personally think at some

0:45:34.640 --> 0:45:37.680
<v Speaker 3>point the stock market has to come down because especially

0:45:37.800 --> 0:45:42.840
<v Speaker 3>if jobs aren't opening, businesses aren't making money, people getting

0:45:42.920 --> 0:45:46.200
<v Speaker 3>laid off, it doesn't really technically make sense that the

0:45:46.200 --> 0:45:48.400
<v Speaker 3>stock market's going up, right, very puzzling.

0:45:48.480 --> 0:45:50.719
<v Speaker 4>It's puzzling, like and we'll take a sect if we

0:45:50.960 --> 0:45:53.799
<v Speaker 4>looking like the airline sector. We're looking at these airlines

0:45:54.000 --> 0:45:57.080
<v Speaker 4>like they're fluctuating, they're going up, they're going down. I'm thinking, like,

0:45:57.080 --> 0:45:59.839
<v Speaker 4>there's nobody that's flying right now, Like nobody's flying, Like

0:46:00.120 --> 0:46:03.040
<v Speaker 4>flights are going with two or three people on them,

0:46:03.160 --> 0:46:04.759
<v Speaker 4>Like this doesn't make sense.

0:46:04.800 --> 0:46:07.960
<v Speaker 3>And this is just highlights another thing. It reminds me

0:46:08.000 --> 0:46:12.319
<v Speaker 3>of crypto, the crypto days, when you know the sad

0:46:12.400 --> 0:46:16.360
<v Speaker 3>reality of it is that the vast majority of people

0:46:16.480 --> 0:46:19.520
<v Speaker 3>are just pawns in this game where a few people

0:46:19.640 --> 0:46:24.200
<v Speaker 3>really move the pieces. So you have hedge funds, you

0:46:24.239 --> 0:46:28.239
<v Speaker 3>have institutional investors, you have big, big, big players, right,

0:46:29.080 --> 0:46:33.359
<v Speaker 3>and this just shows you that it's no real rhyme

0:46:33.440 --> 0:46:35.960
<v Speaker 3>or reason. A lot of times it's whatever they want

0:46:36.000 --> 0:46:39.600
<v Speaker 3>to do. It wasn't like Wales and reality of it.

0:46:39.640 --> 0:46:41.480
<v Speaker 3>They can move they can move it however they want

0:46:41.520 --> 0:46:44.120
<v Speaker 3>to move it. If this doesn't show you that, I

0:46:44.160 --> 0:46:46.640
<v Speaker 3>don't know what else is. Every single company has the

0:46:46.960 --> 0:46:50.840
<v Speaker 3>most almost ninety five percent companies have they will have

0:46:50.880 --> 0:46:54.080
<v Speaker 3>a negative twenty twenty. They've already written off the year,

0:46:54.200 --> 0:46:56.040
<v Speaker 3>like you know, you're right off a court if they

0:46:56.080 --> 0:46:56.680
<v Speaker 3>wrote off the year.

0:46:56.719 --> 0:46:58.680
<v Speaker 2>Everybody's changed their progestions for the year already.

0:46:58.760 --> 0:47:01.919
<v Speaker 3>Ninety five percent companies rolled off the year three weeks

0:47:01.920 --> 0:47:02.760
<v Speaker 3>in the year's.

0:47:02.560 --> 0:47:05.440
<v Speaker 4>Done three weeks and like so like what does that

0:47:05.480 --> 0:47:08.040
<v Speaker 4>look like two to three months? Right, Because if we're

0:47:08.040 --> 0:47:10.439
<v Speaker 4>talking about like what the government, well the mayor said,

0:47:10.600 --> 0:47:12.359
<v Speaker 4>we're going schools, mean people can't go back to work.

0:47:12.360 --> 0:47:14.600
<v Speaker 4>If nobody goes back to work until the summer, you're

0:47:14.640 --> 0:47:17.600
<v Speaker 4>talking three or four months, three weeks, and that's what.

0:47:17.520 --> 0:47:20.279
<v Speaker 2>It looks like. This is we in for some some

0:47:20.320 --> 0:47:21.080
<v Speaker 2>different type of time.

0:47:21.160 --> 0:47:24.000
<v Speaker 3>So wash the stock market. Shout out to Ian, Shout

0:47:24.040 --> 0:47:26.120
<v Speaker 3>out to Wall Street trapper, Shout out to everybody that's

0:47:26.239 --> 0:47:28.920
<v Speaker 3>educating the people, because you can make money in this market.

0:47:28.960 --> 0:47:32.080
<v Speaker 3>I'm invested in the market. You know, a lot of

0:47:32.120 --> 0:47:34.480
<v Speaker 3>us are still invested in the market. And I'm playing

0:47:34.480 --> 0:47:36.600
<v Speaker 3>the game. Yeah, I'm learning. I'm playing it, and I'm learning.

0:47:36.640 --> 0:47:38.839
<v Speaker 3>I'm playing a game, and I understand that I'm not

0:47:38.880 --> 0:47:41.120
<v Speaker 3>making the rules. I'm not trying to act like I'm

0:47:41.160 --> 0:47:44.759
<v Speaker 3>in control of it. But okay, there's money to be made.

0:47:45.080 --> 0:47:46.399
<v Speaker 2>We're gonna try to make it's legal.

0:47:46.480 --> 0:47:48.480
<v Speaker 3>It's not like you're doing anything unethical. I mean, it

0:47:48.520 --> 0:47:56.840
<v Speaker 3>doesn't make sense, but whatever, somebody's gonna do it, so

0:47:57.200 --> 0:48:03.120
<v Speaker 3>why not all right? Well, so okay, so staying on

0:48:03.160 --> 0:48:08.440
<v Speaker 3>track with unemployment. Yeah, another big issue for people is healthcare,

0:48:08.520 --> 0:48:12.560
<v Speaker 3>especially now whatever what coronavirus is, like, you know, your

0:48:12.560 --> 0:48:16.600
<v Speaker 3>health health is the number one issue. So healthcare is

0:48:16.640 --> 0:48:20.480
<v Speaker 3>a big situation because obviously when you lose your job,

0:48:20.560 --> 0:48:23.040
<v Speaker 3>now you have to make decisions about your health insurance.

0:48:23.880 --> 0:48:27.520
<v Speaker 3>So it's a thing called cobra, right, want to talk

0:48:27.520 --> 0:48:28.000
<v Speaker 3>about cobra.

0:48:28.080 --> 0:48:30.920
<v Speaker 4>Yeah, So cobra is a continuation of your health insurance

0:48:31.200 --> 0:48:33.279
<v Speaker 4>for anybody that loses their job, and it depends on

0:48:33.320 --> 0:48:36.040
<v Speaker 4>your employer, but it usually after you use your job

0:48:36.080 --> 0:48:38.200
<v Speaker 4>and you lose your health benefits.

0:48:37.800 --> 0:48:38.360
<v Speaker 2>You can apply.

0:48:38.440 --> 0:48:41.120
<v Speaker 4>You have sixty days to apply for COBRA, which will

0:48:41.160 --> 0:48:43.600
<v Speaker 4>continue your health insurance. The biggest difference is that you

0:48:43.640 --> 0:48:47.080
<v Speaker 4>have to pay the premium. So whereas if you worked

0:48:47.120 --> 0:48:50.080
<v Speaker 4>in education, right the premium won't be as high because

0:48:50.120 --> 0:48:52.040
<v Speaker 4>it's a union and the rate is going to be

0:48:52.040 --> 0:48:54.520
<v Speaker 4>a lot lower. Now with COBRA, you have to pay

0:48:54.920 --> 0:48:57.439
<v Speaker 4>the premium up front. One interesting thing that I found

0:48:57.480 --> 0:48:59.880
<v Speaker 4>out was like people that are furlough so like people

0:49:00.000 --> 0:49:02.880
<v Speaker 4>lose their jobs, they can apply for COBRA within sixty days.

0:49:03.040 --> 0:49:05.800
<v Speaker 2>People are furloughed, COBRA is not a qualifying event.

0:49:06.280 --> 0:49:10.440
<v Speaker 4>So those people, you know, hopefully their employees can continue

0:49:10.480 --> 0:49:11.240
<v Speaker 4>their help benefits.

0:49:11.280 --> 0:49:13.480
<v Speaker 2>If the some do, some don't. I think they're in

0:49:13.520 --> 0:49:15.480
<v Speaker 2>an interesting space, like what do those people do because

0:49:15.480 --> 0:49:16.880
<v Speaker 2>a lot of people are being furloughed.

0:49:17.440 --> 0:49:20.200
<v Speaker 4>Eventually, I'm thinking if this continues, they'll eventually be laid

0:49:20.239 --> 0:49:21.520
<v Speaker 4>off and then they will be.

0:49:21.640 --> 0:49:25.759
<v Speaker 2>Qualified for COBRA. But it's a very slippery slope right now.

0:49:25.800 --> 0:49:30.040
<v Speaker 4>Man health insurance right now is I mean, what will

0:49:30.040 --> 0:49:31.319
<v Speaker 4>we do with that without that right now?

0:49:31.400 --> 0:49:33.200
<v Speaker 2>Especially in a health crisis.

0:49:33.239 --> 0:49:35.359
<v Speaker 4>Imagine that you don't have health insurance and now you're

0:49:35.400 --> 0:49:37.279
<v Speaker 4>in a health crisis. Yeah, you don't have a job

0:49:37.280 --> 0:49:38.799
<v Speaker 4>to pay the premium.

0:49:38.880 --> 0:49:41.520
<v Speaker 3>Yeah, So Cobra Yeah, Cobra is for people that, like

0:49:41.520 --> 0:49:44.000
<v Speaker 3>you said, got laid off. And the thing with Cobra

0:49:44.120 --> 0:49:47.640
<v Speaker 3>is that you get to keep your same plan, but

0:49:47.920 --> 0:49:51.080
<v Speaker 3>the premiums go out substantially. They could go up substantially

0:49:51.120 --> 0:49:55.200
<v Speaker 3>because now your employer is no longer paying that portion

0:49:55.560 --> 0:49:55.879
<v Speaker 3>of it.

0:49:56.040 --> 0:49:58.319
<v Speaker 4>A lot of times the employer has government and set

0:49:58.640 --> 0:50:01.160
<v Speaker 4>assistance put inside the plan, so they paid some of

0:50:01.200 --> 0:50:02.120
<v Speaker 4>it to them and pay something.

0:50:02.480 --> 0:50:03.799
<v Speaker 2>Now it's all on you. Yeah.

0:50:03.840 --> 0:50:05.600
<v Speaker 3>And then also you're no longer part of that group,

0:50:05.680 --> 0:50:08.200
<v Speaker 3>so everything is always lower with a group. That's why

0:50:08.239 --> 0:50:11.120
<v Speaker 3>it's called group insurance as opposed to individual insurance. So

0:50:11.160 --> 0:50:12.920
<v Speaker 3>now if you're on Cobra, you're on the outside. So

0:50:13.280 --> 0:50:16.200
<v Speaker 3>if you were paying let's say two point fifty a

0:50:16.280 --> 0:50:19.520
<v Speaker 3>month for your health insurance at your job, now a

0:50:19.680 --> 0:50:22.680
<v Speaker 3>Cobra you could be paying seven hundred dollars a month,

0:50:22.719 --> 0:50:25.439
<v Speaker 3>six hundred dollars a month because now you know it's

0:50:25.440 --> 0:50:28.160
<v Speaker 3>no longer being subsidized. It's the same plan, but now

0:50:28.200 --> 0:50:31.560
<v Speaker 3>you have to pay. So now obviously that's an issue

0:50:31.640 --> 0:50:36.320
<v Speaker 3>because you're not working, so you're getting paid less money,

0:50:36.680 --> 0:50:40.719
<v Speaker 3>but you have a higher expense on the cobra, which is.

0:50:40.719 --> 0:50:42.920
<v Speaker 4>Which is why in my mind, and we sold the

0:50:42.920 --> 0:50:46.279
<v Speaker 4>federal government. They changed the unemployment rate, right, so well,

0:50:46.280 --> 0:50:49.000
<v Speaker 4>not the unemployment, the unemployment insurance amount, so that they've

0:50:49.080 --> 0:50:51.839
<v Speaker 4>added six hundred dollars to it to whatever you were getting, right,

0:50:51.840 --> 0:50:53.840
<v Speaker 4>depending on how much you've made this a percentage's actually

0:50:53.840 --> 0:50:57.080
<v Speaker 4>a calculation. You can determine how much your unemployment insurance

0:50:57.120 --> 0:50:59.040
<v Speaker 4>check is. But they've added six hundred because of these

0:50:59.040 --> 0:51:00.879
<v Speaker 4>type of expenses. Right, somebody's gonna go on a crow,

0:51:00.960 --> 0:51:03.200
<v Speaker 4>but they don't have income. We're going to have to

0:51:03.200 --> 0:51:05.920
<v Speaker 4>give them more money. And like if this doesn't, I mean,

0:51:05.960 --> 0:51:08.879
<v Speaker 4>they actually extended it, I think unemployment from twenty six

0:51:08.920 --> 0:51:11.120
<v Speaker 4>weeks now to thirty nine weeks because they're seeing it

0:51:11.160 --> 0:51:12.279
<v Speaker 4>like this is gonna last for a.

0:51:12.239 --> 0:51:14.480
<v Speaker 2>While, and we have to have people with money. We

0:51:14.560 --> 0:51:15.840
<v Speaker 2>have to give them some type of income.

0:51:16.040 --> 0:51:19.520
<v Speaker 3>Yeah, and you know another thing that people have available

0:51:19.560 --> 0:51:23.960
<v Speaker 3>to them sometimes is the ACA Affordable Health Affordable Care

0:51:24.000 --> 0:51:27.280
<v Speaker 3>Act that was better known as Obamacare.

0:51:26.680 --> 0:51:29.920
<v Speaker 2>Obamacare Act, and Medicaid.

0:51:30.160 --> 0:51:32.200
<v Speaker 3>So, you know, the interesting thing about medicaid is that,

0:51:32.280 --> 0:51:35.000
<v Speaker 3>you know, each Medicaid Medicaid system is really screwed up

0:51:35.320 --> 0:51:37.560
<v Speaker 3>because it's there's really no set thing for it. It

0:51:37.600 --> 0:51:40.759
<v Speaker 3>depends on your income. Each state is different. You can

0:51:40.840 --> 0:51:43.440
<v Speaker 3>like apply on the state website. But they said that

0:51:43.480 --> 0:51:47.600
<v Speaker 3>it estimated six million adults that actually qualify for Medicaid

0:51:48.360 --> 0:51:52.240
<v Speaker 3>are not enrolled. So that's another option as well, because

0:51:52.280 --> 0:51:54.760
<v Speaker 3>with Medicaid is like you don't really pay for anything.

0:51:55.040 --> 0:51:58.520
<v Speaker 3>It's like pretty much free in a sense. So a

0:51:58.560 --> 0:52:00.440
<v Speaker 3>lot of times, you know, it does don't really have

0:52:00.480 --> 0:52:04.319
<v Speaker 3>the best stigma attached to it. Medicaid is like, you know.

0:52:04.760 --> 0:52:06.840
<v Speaker 4>People think they're not getting the best health professionals to

0:52:06.840 --> 0:52:07.480
<v Speaker 4>be doing the job.

0:52:07.800 --> 0:52:10.120
<v Speaker 3>Well, guess why you're not getting the best health professionals anyway,

0:52:10.480 --> 0:52:11.160
<v Speaker 3>unless you're rich.

0:52:11.360 --> 0:52:12.279
<v Speaker 2>What's the reality of it?

0:52:13.320 --> 0:52:17.880
<v Speaker 3>So, yeah, it's free, So I that might be something

0:52:17.880 --> 0:52:19.480
<v Speaker 3>that a lot of people should look into as well,

0:52:19.480 --> 0:52:21.040
<v Speaker 3>Like I said, with researcher and they said that six

0:52:21.120 --> 0:52:24.400
<v Speaker 3>million people that actually qualify for Medicaid are not enrolled.

0:52:24.440 --> 0:52:27.919
<v Speaker 3>In medicaid, just lack of awareness, lack of awareness, and yeah,

0:52:28.040 --> 0:52:29.799
<v Speaker 3>lack of awareness would I.

0:52:29.719 --> 0:52:32.319
<v Speaker 4>Would say lack of awareness more than stigma. I don't

0:52:32.320 --> 0:52:33.200
<v Speaker 4>even think people know that.

0:52:33.920 --> 0:52:35.799
<v Speaker 2>You don't think people have the stigma with medicaid? No, No,

0:52:35.760 --> 0:52:38.040
<v Speaker 2>I don't think people know that they qualify for it.

0:52:37.960 --> 0:52:40.240
<v Speaker 3>Because of the stigma attached to it. They think medicaid

0:52:40.280 --> 0:52:44.680
<v Speaker 3>is just strictly for you know, poverty, like extreme poverty,

0:52:44.680 --> 0:52:45.879
<v Speaker 3>senior citizen and things that the nature.

0:52:45.880 --> 0:52:46.200
<v Speaker 2>They don't.

0:52:46.280 --> 0:52:50.480
<v Speaker 3>But you can be working class. Poverty is a real thing,

0:52:51.760 --> 0:52:54.920
<v Speaker 3>and you might have a full time job and technically

0:52:55.640 --> 0:52:58.960
<v Speaker 3>be in poverty. It's the reality of them. Middle class

0:52:59.000 --> 0:53:00.320
<v Speaker 3>poverty happens.

0:53:00.560 --> 0:53:02.520
<v Speaker 4>We had that argument, right, we were doing working class,

0:53:02.520 --> 0:53:04.399
<v Speaker 4>middle class, rich, poor.

0:53:04.719 --> 0:53:06.560
<v Speaker 2>We had like this whole debate about that. But that's

0:53:06.560 --> 0:53:06.920
<v Speaker 2>a fact.

0:53:07.480 --> 0:53:10.640
<v Speaker 3>Yeah, there's no middle class, either rich or poor.

0:53:11.239 --> 0:53:12.560
<v Speaker 2>We're gonna fall in between one of those.

0:53:12.680 --> 0:53:15.239
<v Speaker 3>Yeah, because realistically, it's like Ian Sam, if you don't

0:53:15.239 --> 0:53:19.200
<v Speaker 3>have sixty months saved, you're screwed. And it's like, Okay,

0:53:19.280 --> 0:53:22.120
<v Speaker 3>that sounds crazy, but that's what that's.

0:53:21.800 --> 0:53:24.160
<v Speaker 2>When we said it. We were like, yo, that's crazy.

0:53:23.840 --> 0:53:28.960
<v Speaker 3>That's wealthy because it's like Okay, Now this is exposing

0:53:29.400 --> 0:53:34.239
<v Speaker 3>like what we've been saying for ever that no matter

0:53:34.280 --> 0:53:37.439
<v Speaker 3>how much money you make, a lot of people are

0:53:37.800 --> 0:53:40.680
<v Speaker 3>one paycheck away from a financial crisis. If you're one

0:53:40.680 --> 0:53:43.800
<v Speaker 3>paycheck away from a financial crisis, you're poor, You're in poverty.

0:53:43.840 --> 0:53:44.759
<v Speaker 2>You have no reserves.

0:53:45.000 --> 0:53:46.840
<v Speaker 4>That's one of the things like in shout out to

0:53:46.840 --> 0:53:48.440
<v Speaker 4>Ian and shout to map, but we've been stressing that,

0:53:48.520 --> 0:53:50.200
<v Speaker 4>like you got to have reserves. Like I told you

0:53:50.280 --> 0:53:51.840
<v Speaker 4>when you told me at twenty six, like, yo, you

0:53:51.920 --> 0:53:54.239
<v Speaker 4>need to have six to twelve months to live off of.

0:53:54.320 --> 0:53:55.960
<v Speaker 4>And I was like, y, all right, that's the standard.

0:53:56.000 --> 0:53:57.480
<v Speaker 4>And then when he said sixty, I was like.

0:53:58.120 --> 0:54:00.200
<v Speaker 2>I'm in the wrong boat. I got to readjust what

0:54:00.239 --> 0:54:00.560
<v Speaker 2>I was.

0:54:00.520 --> 0:54:03.760
<v Speaker 4>Thinking, because he's right, like, this is a financial crisis.

0:54:03.920 --> 0:54:05.799
<v Speaker 4>This is a health crisis and a financial crisis at

0:54:05.840 --> 0:54:08.719
<v Speaker 4>the same time. So like that's five years.

0:54:09.440 --> 0:54:13.719
<v Speaker 2>Yeah, really how long people survive? Yeah?

0:54:13.800 --> 0:54:19.080
<v Speaker 3>So and then it's like with the Obamacare, the ACA

0:54:20.239 --> 0:54:23.239
<v Speaker 3>that's open enrollment once again, and the issues that they're

0:54:23.280 --> 0:54:26.600
<v Speaker 3>having is that they haven't changed it, like you would

0:54:26.640 --> 0:54:28.840
<v Speaker 3>think that they would make some provisions for like enrollment

0:54:28.880 --> 0:54:31.520
<v Speaker 3>and different things. Because it was going on but for

0:54:31.560 --> 0:54:33.680
<v Speaker 3>the most part, they really haven't. So a lot of

0:54:33.719 --> 0:54:37.239
<v Speaker 3>people are mad about that in the administration, and it's

0:54:37.280 --> 0:54:39.560
<v Speaker 3>kind of a lot of it's a lot of lag

0:54:39.680 --> 0:54:40.400
<v Speaker 3>time on everything.

0:54:40.719 --> 0:54:42.160
<v Speaker 2>I mean, at first they wanted to get rid of it.

0:54:43.120 --> 0:54:46.480
<v Speaker 4>Yeah, so now it's like why even go revisit it

0:54:46.520 --> 0:54:47.960
<v Speaker 4>when they try to get rid of in the first place.

0:54:48.080 --> 0:54:50.440
<v Speaker 3>So healthcare is something that you know, people should be

0:54:50.480 --> 0:54:52.000
<v Speaker 3>aware of. Another thing that people should be aware of

0:54:52.080 --> 0:54:54.879
<v Speaker 3>is their insurance. And were talked about this before as well,

0:54:54.960 --> 0:54:57.680
<v Speaker 3>especially you know, talking about life insurance right specifically talk

0:54:57.680 --> 0:54:59.600
<v Speaker 3>about life insurance. A lot of times people think that

0:54:59.560 --> 0:55:02.560
<v Speaker 3>they're good, quote unquote, I'm good because they.

0:55:02.520 --> 0:55:04.279
<v Speaker 2>Haven't you have it all the time.

0:55:04.520 --> 0:55:07.640
<v Speaker 3>I'm good you have insurance at your job. But no,

0:55:07.680 --> 0:55:10.160
<v Speaker 3>you're really not, because it's like, what happens is that

0:55:10.239 --> 0:55:12.359
<v Speaker 3>this is a perfect example. If you lose your job,

0:55:12.480 --> 0:55:17.200
<v Speaker 3>a few things happen. It's one you can keep your insurance.

0:55:17.520 --> 0:55:19.840
<v Speaker 3>That doesn't really happen for the most part, but you

0:55:19.840 --> 0:55:24.080
<v Speaker 3>can keep your insurance in the same majority of the time,

0:55:24.480 --> 0:55:26.880
<v Speaker 3>what happens is that you no longer have your insurance

0:55:27.800 --> 0:55:30.960
<v Speaker 3>or just like the health insurance, you can keep your insurance,

0:55:30.960 --> 0:55:33.560
<v Speaker 3>but the premiums go up. One thing about you know,

0:55:33.640 --> 0:55:35.839
<v Speaker 3>life insurance how the job, is that the premiums are

0:55:35.880 --> 0:55:38.560
<v Speaker 3>extremely low because once again it's covering a group, right,

0:55:38.640 --> 0:55:40.520
<v Speaker 3>So you might have like one hundred thousand dollars policy

0:55:40.520 --> 0:55:43.080
<v Speaker 3>for like ten dollars a month, like five dollars a month.

0:55:43.120 --> 0:55:44.839
<v Speaker 3>I'm like that, it's like next to nothing.

0:55:44.880 --> 0:55:46.520
<v Speaker 2>I was gonna say, thee hundred thousand sounds like most

0:55:46.520 --> 0:55:47.239
<v Speaker 2>of the ones I've seen.

0:55:49.000 --> 0:55:50.720
<v Speaker 3>Well, sometimes they let you get like double your income.

0:55:50.760 --> 0:55:52.319
<v Speaker 3>It depends on how much money you make, so it's

0:55:52.320 --> 0:55:56.000
<v Speaker 3>all relative. But I say that to say it's good

0:55:56.000 --> 0:55:59.080
<v Speaker 3>to have because it's a low risk as far as

0:55:59.160 --> 0:56:01.240
<v Speaker 3>like it doesn't really cost you, you think, sometimes even free.

0:56:01.440 --> 0:56:03.759
<v Speaker 3>But the problem with having life insurance that as your

0:56:03.800 --> 0:56:07.919
<v Speaker 3>only source of life insurance is that this right now,

0:56:08.080 --> 0:56:10.920
<v Speaker 3>so a lot of times when you leave your job,

0:56:11.239 --> 0:56:13.680
<v Speaker 3>you can't it's not transferable, you can't take it with you.

0:56:14.040 --> 0:56:16.160
<v Speaker 3>So now if you were depending on that, if you

0:56:16.239 --> 0:56:18.880
<v Speaker 3>got three kids at home, not only are you in

0:56:18.960 --> 0:56:21.680
<v Speaker 3>the midst of a financial crisis because you don't have

0:56:21.760 --> 0:56:26.040
<v Speaker 3>any money coming in, but God forbid you die good,

0:56:26.200 --> 0:56:29.040
<v Speaker 3>which is a high likelihood at this point because I've

0:56:29.040 --> 0:56:31.200
<v Speaker 3>grown up and everything else going on is life is

0:56:31.200 --> 0:56:35.040
<v Speaker 3>extremely so now you can die and you leave your

0:56:35.080 --> 0:56:35.720
<v Speaker 3>family nothing.

0:56:36.440 --> 0:56:36.840
<v Speaker 2>Wow.

0:56:37.239 --> 0:56:40.120
<v Speaker 3>So this is a whole domino effect and it's much

0:56:40.160 --> 0:56:41.520
<v Speaker 3>deeper than most people think about.

0:56:41.680 --> 0:56:44.240
<v Speaker 2>Wow. But once again, I meante.

0:56:43.800 --> 0:56:45.560
<v Speaker 4>Thinking about the premiums as you said it just now,

0:56:45.600 --> 0:56:47.560
<v Speaker 4>like I hadn't even thought of that. Imagine that you

0:56:47.600 --> 0:56:49.040
<v Speaker 4>lose a life insurance and you do have to pay

0:56:49.040 --> 0:56:51.399
<v Speaker 4>the premium, Like, let's take the life insurance, now take

0:56:51.640 --> 0:56:55.520
<v Speaker 4>the health insurance premium, I mean the Cobra premium, Like

0:56:56.040 --> 0:56:57.919
<v Speaker 4>Something're gonna have to give up. Something you have to say, look,

0:56:57.920 --> 0:56:58.879
<v Speaker 4>I can't pay one of these.

0:56:59.600 --> 0:57:02.920
<v Speaker 3>Yeah, And it's a learning experience. And once again, not

0:57:03.080 --> 0:57:05.239
<v Speaker 3>to play the role of like I told you so,

0:57:05.400 --> 0:57:07.640
<v Speaker 3>but this is things that we've spoken about on the

0:57:07.680 --> 0:57:11.520
<v Speaker 3>podcast for months and hopefully people take heed to it

0:57:11.640 --> 0:57:13.759
<v Speaker 3>right because it's like it's unfortunate. But most time people

0:57:13.800 --> 0:57:15.920
<v Speaker 3>don't really learn until something that happens. And this is

0:57:15.960 --> 0:57:18.200
<v Speaker 3>like a perfect example of why you should budget, why

0:57:18.240 --> 0:57:20.360
<v Speaker 3>you should live, why you should live below your means,

0:57:20.560 --> 0:57:22.640
<v Speaker 3>why you should save for or any day, why you

0:57:22.640 --> 0:57:25.360
<v Speaker 3>should have outside of insurance. These are all things that

0:57:26.200 --> 0:57:28.720
<v Speaker 3>a lot of people don't do. But now you see

0:57:28.760 --> 0:57:33.240
<v Speaker 3>why it's important. And at one point, hopefully in the

0:57:33.280 --> 0:57:35.200
<v Speaker 3>near future, but at some point we will we will

0:57:35.240 --> 0:57:38.800
<v Speaker 3>get back to living. We don't know how that's gonna look,

0:57:38.800 --> 0:57:40.440
<v Speaker 3>but we'll get back to living and people will get

0:57:40.440 --> 0:57:43.000
<v Speaker 3>back to working. And it's important for people to not

0:57:43.120 --> 0:57:45.960
<v Speaker 3>forget this. So even if you're not in a position

0:57:46.160 --> 0:57:48.880
<v Speaker 3>to do this now, when you are in a position,

0:57:49.320 --> 0:57:52.000
<v Speaker 3>don't forget this. Don't forget to have your emergency fund,

0:57:52.040 --> 0:57:55.120
<v Speaker 3>don't forget to have your retirement account in order, don't

0:57:55.160 --> 0:57:58.120
<v Speaker 3>forget to have your insurance. Don't forget all of these

0:57:58.160 --> 0:58:00.800
<v Speaker 3>different things. Your credit there's another thing we're talking about.

0:58:00.800 --> 0:58:01.080
<v Speaker 2>Credit.

0:58:01.480 --> 0:58:03.960
<v Speaker 3>It's something to fall back on. As Cash spoke about

0:58:04.000 --> 0:58:06.000
<v Speaker 3>that on the Live. It's like, if you have great credit,

0:58:06.320 --> 0:58:08.480
<v Speaker 3>you lose your job, you can still you can live

0:58:08.520 --> 0:58:10.320
<v Speaker 3>off of credit for a certain amount of time.

0:58:10.360 --> 0:58:11.880
<v Speaker 2>A lot of people are not even thinking.

0:58:11.800 --> 0:58:14.520
<v Speaker 3>It's not the best option, but it's an option. It's

0:58:14.520 --> 0:58:19.800
<v Speaker 3>better than you know nothing. Yeah, that's the fact. Yeah,

0:58:19.920 --> 0:58:21.600
<v Speaker 3>so that's one of the first.

0:58:21.440 --> 0:58:21.880
<v Speaker 2>Things you did.

0:58:21.920 --> 0:58:23.440
<v Speaker 4>He was like, Yo, I'm about to try to increase

0:58:23.440 --> 0:58:25.440
<v Speaker 4>my credit limit because like, yo, an event that I

0:58:25.480 --> 0:58:26.040
<v Speaker 4>need to have it.

0:58:26.240 --> 0:58:27.360
<v Speaker 2>I want to have it. Yeah.

0:58:27.400 --> 0:58:28.760
<v Speaker 4>I was like, all right, I'm not the first thing

0:58:28.920 --> 0:58:30.800
<v Speaker 4>that I'm on that I'm on that time too, let's

0:58:30.960 --> 0:58:31.200
<v Speaker 4>do it.

0:58:31.240 --> 0:58:33.240
<v Speaker 3>The first thing when this thing really started to get

0:58:33.320 --> 0:58:36.760
<v Speaker 3>like crazy weeks ago, the first thing I did was

0:58:36.800 --> 0:58:39.320
<v Speaker 3>to call all my credit cards, increase my credit limits,

0:58:39.440 --> 0:58:43.400
<v Speaker 3>take out balanced transfers, twelve month free loan. I don't

0:58:43.440 --> 0:58:48.000
<v Speaker 3>even need the money, but bunker down, I said I would.

0:58:48.080 --> 0:58:50.760
<v Speaker 3>I learned that early on when when when it ships

0:58:50.800 --> 0:58:53.600
<v Speaker 3>the fit, you got to bunker down. You got bunker down,

0:58:53.680 --> 0:58:56.919
<v Speaker 3>cut all your expenses, not getting no car, not doing

0:58:56.960 --> 0:59:01.040
<v Speaker 3>nothing right now, like everything is like stack the it's

0:59:01.120 --> 0:59:03.479
<v Speaker 3>on hold right now because now this is the time

0:59:03.520 --> 0:59:05.560
<v Speaker 3>to educate yourself. This is another thing too, This is

0:59:05.560 --> 0:59:10.280
<v Speaker 3>a time to educate yourself. Plan but stack as much

0:59:10.320 --> 0:59:12.040
<v Speaker 3>money as you possibly can because it's going to the

0:59:12.080 --> 0:59:15.280
<v Speaker 3>reality of it's gonna be some opportunities. Me personally, I

0:59:15.280 --> 0:59:17.560
<v Speaker 3>think real estate is gonna fall. I think the stock

0:59:17.600 --> 0:59:18.680
<v Speaker 3>market's gonna fall again.

0:59:19.400 --> 0:59:22.200
<v Speaker 4>So we're not gonna let it happen again where there

0:59:22.200 --> 0:59:23.720
<v Speaker 4>was opportunities and we.

0:59:23.600 --> 0:59:25.960
<v Speaker 2>Didn't have the income to take advantage.

0:59:26.480 --> 0:59:29.280
<v Speaker 4>This time around, there's definitely gonna be opportunities and we're gonna,

0:59:29.360 --> 0:59:30.720
<v Speaker 4>we're gonna, we're gonna make sure we have the income

0:59:30.760 --> 0:59:31.280
<v Speaker 4>to take advantage.

0:59:31.280 --> 0:59:32.960
<v Speaker 3>I'll put money in the street. I don't put a

0:59:32.960 --> 0:59:35.040
<v Speaker 3>lot of money in the street. I don't put a

0:59:35.080 --> 0:59:37.480
<v Speaker 3>lot of money in the street. Hold you man, it's

0:59:37.520 --> 0:59:40.040
<v Speaker 3>gonna be a lot of money made. That stock market

0:59:40.080 --> 0:59:43.520
<v Speaker 3>is gonna stock market and real estate is gonna be

0:59:44.280 --> 0:59:45.320
<v Speaker 3>prime is gonna be.

0:59:45.720 --> 0:59:49.080
<v Speaker 4>Just on an educational standpoint for people who are having

0:59:49.080 --> 0:59:51.880
<v Speaker 4>financial issues, student loan, and we didn't we didn't talk

0:59:51.880 --> 0:59:53.760
<v Speaker 4>about it, but I'm just really quickly student loan. If

0:59:53.760 --> 0:59:56.920
<v Speaker 4>you have federal student loans, those have been suspended till September.

0:59:56.960 --> 0:59:58.800
<v Speaker 4>So if you have a federal student loan, you don't

0:59:58.800 --> 1:00:01.480
<v Speaker 4>have to do anything. They stop making payments. However, if

1:00:01.520 --> 1:00:03.160
<v Speaker 4>you would like to still make payments, I know some

1:00:03.200 --> 1:00:05.440
<v Speaker 4>people in that position were like, you know what, I

1:00:05.440 --> 1:00:08.040
<v Speaker 4>still want to give my student loans not really crippling

1:00:08.080 --> 1:00:10.280
<v Speaker 4>me if I pay it. All the money that you

1:00:10.360 --> 1:00:13.040
<v Speaker 4>pay up from now until September will go directly to

1:00:13.040 --> 1:00:15.720
<v Speaker 4>the principle, which is important, right, So you're not paying

1:00:15.760 --> 1:00:18.120
<v Speaker 4>any interest on the money that you pay from now.

1:00:18.000 --> 1:00:18.920
<v Speaker 2>Until mid September.

1:00:18.960 --> 1:00:20.680
<v Speaker 4>So if you want to take advantage of that, that's

1:00:20.840 --> 1:00:23.400
<v Speaker 4>also a great opportunity to tie down some of that

1:00:23.440 --> 1:00:26.880
<v Speaker 4>student loan because, like you said, credit, credit is important

1:00:27.000 --> 1:00:29.240
<v Speaker 4>and a lot of people are struggling with their credit

1:00:29.360 --> 1:00:32.200
<v Speaker 4>because of student loans. So this is a good time

1:00:32.240 --> 1:00:35.960
<v Speaker 4>if you have the cash to do it, take advantage

1:00:35.960 --> 1:00:36.240
<v Speaker 4>of it.

1:00:36.360 --> 1:00:39.720
<v Speaker 3>Yeah, take advantage of everything right now. Yeah, apply for it,

1:00:39.800 --> 1:00:42.440
<v Speaker 3>take advantage of it because it's out there.

1:00:42.520 --> 1:00:45.360
<v Speaker 2>Yeah, small business loans, all that, take advantage.

1:00:45.000 --> 1:00:50.600
<v Speaker 3>Yeah for sure. So yeah, so yeah, that was something

1:00:50.600 --> 1:00:53.240
<v Speaker 3>that I felt that was needed. You felt like it

1:00:53.280 --> 1:00:56.600
<v Speaker 3>was needed. You know, we're going to get back to

1:00:56.720 --> 1:00:59.720
<v Speaker 3>story time and some other entertaining stuff later on, but

1:01:00.080 --> 1:01:01.919
<v Speaker 3>this was a state of the Union. Yeah, serious times

1:01:02.000 --> 1:01:03.360
<v Speaker 3>right now. So we just want to make sure that

1:01:03.400 --> 1:01:07.240
<v Speaker 3>everybody's informed, and we're gonna be doing this periodically. We're

1:01:07.240 --> 1:01:09.160
<v Speaker 3>gonna get back to like the regular format of the show.

1:01:09.200 --> 1:01:11.360
<v Speaker 3>There's really no regular format could be changing so much.

1:01:11.400 --> 1:01:14.000
<v Speaker 3>But you know, but from time to time, I think

1:01:14.000 --> 1:01:16.320
<v Speaker 3>that it's important kind of like a news outlet where we,

1:01:16.520 --> 1:01:19.560
<v Speaker 3>you know, inform people of what's going on, how they

1:01:19.560 --> 1:01:21.560
<v Speaker 3>can take advantage and how they can adapt. And I

1:01:21.560 --> 1:01:23.000
<v Speaker 3>think right now. More than that, there's a lot of

1:01:23.080 --> 1:01:25.000
<v Speaker 3>uncertainty in the world that we live in and especially

1:01:25.000 --> 1:01:27.680
<v Speaker 3>in our community. So it's important that people just are

1:01:27.720 --> 1:01:32.520
<v Speaker 3>informed first and foremost and hopefully you know, people can

1:01:32.960 --> 1:01:36.200
<v Speaker 3>you know, benefit actually because this opportunity, there's always opportunity

1:01:36.200 --> 1:01:40.400
<v Speaker 3>and tragedy unfortunately, and this is no different. There's opportunity.

1:01:40.440 --> 1:01:43.320
<v Speaker 3>There's a lot of opportunity out here. So the key

1:01:43.400 --> 1:01:45.840
<v Speaker 3>is to actually, you know, a stay safe, that's that's

1:01:46.040 --> 1:01:52.240
<v Speaker 3>first and foremost, but also learn, learn and stay informed

1:01:52.240 --> 1:01:52.560
<v Speaker 3>as well.

1:01:52.640 --> 1:01:54.920
<v Speaker 4>So we take great responsibility in that. So, I mean,

1:01:54.920 --> 1:01:56.280
<v Speaker 4>we said that all the time, man like, we want

1:01:56.280 --> 1:01:58.640
<v Speaker 4>to give information. A lot of people right now, you

1:01:58.680 --> 1:02:00.960
<v Speaker 4>don't see them that will give three months ago in

1:02:00.960 --> 1:02:03.440
<v Speaker 4>their respective areas no where.

1:02:03.280 --> 1:02:03.640
<v Speaker 2>To be found.

1:02:03.720 --> 1:02:04.440
<v Speaker 3>I'm glad you said that.

1:02:04.480 --> 1:02:06.040
<v Speaker 4>We want to make sure that we are right in

1:02:06.040 --> 1:02:07.880
<v Speaker 4>front of y'all giving you all information as we get it.

1:02:07.920 --> 1:02:10.360
<v Speaker 4>We're reading every day, trust me, with researching and reading

1:02:10.400 --> 1:02:12.600
<v Speaker 4>every day, and we won't provide y'all with the information

1:02:12.680 --> 1:02:14.160
<v Speaker 4>as we get it. So we're gonna stay right in

1:02:14.200 --> 1:02:16.520
<v Speaker 4>front of the camera, right in front of y'all, taking

1:02:16.560 --> 1:02:19.200
<v Speaker 4>care of our audience. Because there's no us without y'all.

1:02:19.200 --> 1:02:20.720
<v Speaker 4>So we're gonna we're gonna make sure that we deliver

1:02:20.760 --> 1:02:21.200
<v Speaker 4>every time.

1:02:21.280 --> 1:02:23.640
<v Speaker 3>Yeah, and a lot of those guys in real estate,

1:02:24.280 --> 1:02:27.640
<v Speaker 3>some of them are actually we were cool with. And

1:02:27.920 --> 1:02:29.440
<v Speaker 3>the thing about it is and that's one of the

1:02:29.480 --> 1:02:32.840
<v Speaker 3>reasons why we started our private Facebook real Estate group.

1:02:32.880 --> 1:02:34.680
<v Speaker 3>Shout out to MG the mortgage guy. He's been heading

1:02:34.680 --> 1:02:36.400
<v Speaker 3>that up for us. He's one of the people that

1:02:36.440 --> 1:02:38.760
<v Speaker 3>stayed active throughout this whole thing, educating people and give

1:02:38.880 --> 1:02:41.280
<v Speaker 3>them information. Because it's like we feel like we know

1:02:41.320 --> 1:02:44.400
<v Speaker 3>we've we've we've done so much with real estate, probably

1:02:44.680 --> 1:02:47.120
<v Speaker 3>more episodes than any other topic by a long shot,

1:02:48.440 --> 1:02:50.880
<v Speaker 3>that we wanted to just create a community. So, you know,

1:02:50.920 --> 1:02:54.640
<v Speaker 3>Eyo University, you know, we have the weekly webinars, and

1:02:54.720 --> 1:02:57.640
<v Speaker 3>we have the workshops and we have a lot of

1:02:57.680 --> 1:02:59.160
<v Speaker 3>other stuff. But it was like, how can we add

1:02:59.160 --> 1:03:01.440
<v Speaker 3>to Eyo universe. Seeing how we decided to add to

1:03:01.520 --> 1:03:05.640
<v Speaker 3>it is to have the Facebook group real Estate Private

1:03:05.640 --> 1:03:08.000
<v Speaker 3>real Estate Facebook Group and if you're a member of

1:03:08.040 --> 1:03:10.960
<v Speaker 3>Eyo University, you get access to that, or you could

1:03:11.000 --> 1:03:14.040
<v Speaker 3>just join the private Facebook group. And I think that

1:03:14.080 --> 1:03:16.360
<v Speaker 3>it was something that was needed. Was kind of going

1:03:16.400 --> 1:03:18.600
<v Speaker 3>back and forth and the Facebook group is just just

1:03:18.680 --> 1:03:21.440
<v Speaker 3>ring Man. It's Ringing and we just started a few

1:03:21.440 --> 1:03:23.520
<v Speaker 3>weeks ago and it's it's on fire right now.

1:03:23.560 --> 1:03:25.200
<v Speaker 2>And we got a lot of alumni in there too,

1:03:25.240 --> 1:03:27.240
<v Speaker 2>so MAT's running it. But we got a lot of alumni.

1:03:27.280 --> 1:03:29.280
<v Speaker 2>We got some Brandon rules brand and rules in there.

1:03:29.280 --> 1:03:30.600
<v Speaker 2>We got extended family in there.

1:03:30.800 --> 1:03:32.240
<v Speaker 3>Credit credit dude is coming in.

1:03:32.400 --> 1:03:33.520
<v Speaker 2>Scott's in there.

1:03:33.760 --> 1:03:36.280
<v Speaker 4>Yeah, so we got we got some some family in there,

1:03:36.440 --> 1:03:37.280
<v Speaker 4>and we're in this.

1:03:37.360 --> 1:03:40.400
<v Speaker 3>And we're gonna be doing like weekly webinars exclusively for the.

1:03:40.960 --> 1:03:43.000
<v Speaker 2>We got a book club, we got a movie book club.

1:03:43.040 --> 1:03:44.600
<v Speaker 3>And the good thing with that too is that like

1:03:44.600 --> 1:03:46.400
<v Speaker 3>like MG, the mortgage got like he gives his cell

1:03:46.400 --> 1:03:48.880
<v Speaker 3>phone number out in that group, so you have direct access.

1:03:48.920 --> 1:03:51.240
<v Speaker 3>And these are these are discussion boards where it's like, Okay,

1:03:51.360 --> 1:03:53.680
<v Speaker 3>somebody like I'm buying my first home and I'm trying

1:03:53.720 --> 1:03:55.200
<v Speaker 3>to get a two three k lo and anybody have

1:03:55.280 --> 1:03:57.600
<v Speaker 3>some suggestions for contractors and then people are like, oh,

1:03:57.640 --> 1:03:59.560
<v Speaker 3>you should holler at this person. Was like, it's turned

1:03:59.560 --> 1:04:02.840
<v Speaker 3>into a real community so fast too, No, very quickly.

1:04:03.280 --> 1:04:06.240
<v Speaker 3>So if you're interested in joining that, you can go

1:04:06.280 --> 1:04:10.240
<v Speaker 3>to our website. Eyl university dot com. And we know

1:04:10.320 --> 1:04:12.160
<v Speaker 3>that times are hard right now, so we actually have

1:04:12.240 --> 1:04:15.520
<v Speaker 3>a promo code for our earners which is a sixty

1:04:15.560 --> 1:04:20.600
<v Speaker 3>percent off discount, and that is for eyl University, which

1:04:20.640 --> 1:04:23.400
<v Speaker 3>gives you access to the Facebook group and it's one

1:04:23.440 --> 1:04:25.800
<v Speaker 3>hundred and forty nine dollars for the year. Yeah, so

1:04:25.880 --> 1:04:27.760
<v Speaker 3>I mean that's less than twelve dollars a moth.

1:04:28.040 --> 1:04:32.480
<v Speaker 4>We got We got sixty five archive already, webinars up

1:04:32.480 --> 1:04:34.800
<v Speaker 4>on the page, so you're getting a lot of content

1:04:34.960 --> 1:04:37.080
<v Speaker 4>and you're getting up to date stuff like massing there

1:04:37.160 --> 1:04:40.200
<v Speaker 4>every day, hitting you up with new information. We're on

1:04:40.320 --> 1:04:42.680
<v Speaker 4>there doing live webinars. We got a lot of our

1:04:42.720 --> 1:04:45.640
<v Speaker 4>alumni and special guests coming on doing webinars, so it's

1:04:45.840 --> 1:04:46.600
<v Speaker 4>tremendous value.

1:04:46.640 --> 1:04:49.680
<v Speaker 3>Yeah, and we got our new show, We're mastering the

1:04:49.800 --> 1:04:51.760
<v Speaker 3>Art of Content. So this is the first show that

1:04:51.800 --> 1:04:55.840
<v Speaker 3>we're producing live. It's a live show every Monday on

1:04:55.960 --> 1:04:59.640
<v Speaker 3>YouTube at eight o'clock Eastern Standard Time with our guy

1:05:00.040 --> 1:05:04.040
<v Speaker 3>asked to investor, Ian Dunlapp just finished the first one,

1:05:04.080 --> 1:05:07.280
<v Speaker 3>which was amazing, and so every Monday, put it on

1:05:07.320 --> 1:05:10.280
<v Speaker 3>your calendar. It's a live show. You can ask questions

1:05:10.720 --> 1:05:13.240
<v Speaker 3>on YouTube and then it's saved to our YouTube channel

1:05:13.280 --> 1:05:17.800
<v Speaker 3>after and that's the first show that we're executivecing under

1:05:17.800 --> 1:05:21.160
<v Speaker 3>the Eyo umbrella. So shout out to Ian and we're

1:05:21.160 --> 1:05:22.960
<v Speaker 3>gonna talking about the stock market, every single moning going

1:05:23.000 --> 1:05:27.000
<v Speaker 3>about the stock markets. Market mondays with Ian. So yeah,

1:05:27.000 --> 1:05:28.800
<v Speaker 3>we got a lot of stuff going on. We're encouraged.

1:05:28.880 --> 1:05:33.320
<v Speaker 3>We you know, you guys, stay encouraged. It's important to

1:05:33.400 --> 1:05:35.480
<v Speaker 3>you know, keep your spirit up right now. Can't get

1:05:35.520 --> 1:05:38.120
<v Speaker 3>you know, mentally down, Gotta stay up, Gotta stay in

1:05:38.160 --> 1:05:40.200
<v Speaker 3>a fight, gotta educate yourself now more than other. So

1:05:40.240 --> 1:05:42.919
<v Speaker 3>we're gonna be producing a whole bunch of content to

1:05:42.960 --> 1:05:44.800
<v Speaker 3>get you ready when it, when it, when the lights

1:05:44.840 --> 1:05:47.080
<v Speaker 3>come back on, you can just hit the ground running.

1:05:46.880 --> 1:05:49.280
<v Speaker 2>Keep your moral high, keep your faith even high.

1:05:49.360 --> 1:05:51.000
<v Speaker 3>And then some parting words.

1:05:51.280 --> 1:05:53.240
<v Speaker 4>Yeah, yeah, we just want to say rest in peace

1:05:53.360 --> 1:05:56.240
<v Speaker 4>to Earl Graves, the founder of Black Enterprise.

1:05:57.240 --> 1:06:00.520
<v Speaker 2>He was a leader in the entrepren nor world.

1:06:00.560 --> 1:06:02.920
<v Speaker 4>And we always say that a lot of times, if

1:06:02.960 --> 1:06:05.480
<v Speaker 4>you can't see something, it's tough to aspire to be it,

1:06:05.520 --> 1:06:07.320
<v Speaker 4>and he made sure that we did that for decades.

1:06:07.560 --> 1:06:09.120
<v Speaker 4>So we want to give a rest and peace to

1:06:09.200 --> 1:06:11.480
<v Speaker 4>him and all the Black Enterprise family. I know his

1:06:11.560 --> 1:06:14.840
<v Speaker 4>son is running the company now, but Earl is a

1:06:14.880 --> 1:06:17.160
<v Speaker 4>tremendous pillar in our community so and he's a not

1:06:17.240 --> 1:06:19.200
<v Speaker 4>more for residents too. So we lost a pillar in

1:06:19.240 --> 1:06:21.360
<v Speaker 4>our community. So rest and peace to Earl Graves Senior.

1:06:22.120 --> 1:06:23.080
<v Speaker 4>You'll be truly missed.

1:06:23.360 --> 1:06:27.360
<v Speaker 3>Yeah espressing peace for sure. You guys, stay safe. Thank

1:06:27.360 --> 1:06:29.120
<v Speaker 3>you for rocking with us. We'll see you next week.

1:06:29.240 --> 1:06:29.960
<v Speaker 3>Peace peace.

1:06:32.080 --> 1:06:35.960
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