Speaker 1: An illegal alien from Guatemala charged with raping a child
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Speaker 3: All right, guys, welcome back State of Emergency edition. You know,
Speaker 3: we haven't really had a live episode since this Corona
Speaker 3: situation for full blown Obviously, if you were watching a podcast,
Speaker 3: you know that We have a lot of episodes that
Speaker 3: we've take before and never put out, but but we
Speaker 3: decided that, you know, instead of just keep putting those
Speaker 3: episodes out, we got really a couple of really good
Speaker 3: ones still in the vault. We wanted to kind of
Speaker 3: just talk about some of some current topics.
Speaker 2: Well has changed, Yeah, for sure, It's.
Speaker 3: A lot going on in the world right now, and
Speaker 3: our job is to try to help people out, try
Speaker 3: to educate people, and try to you know, bring awareness
Speaker 3: of different things.
Speaker 4: So and we appreciate that people are looking for us
Speaker 4: to do that, man, because that is super encouraging in
Speaker 4: these times. So we're going to deliver on that for sure.
Speaker 2: Yeah.
Speaker 3: So we're gonna talk about a few different topics in
Speaker 3: business right now that's trending and really relevant.
Speaker 2: To everybody's lives.
Speaker 3: And so yeah, first up to bat, we're gonna talk
Speaker 3: about video conferencing.
Speaker 2: Yeah, it's huge right now.
Speaker 4: That seems to be the way that everyone is communicating
Speaker 4: due to the social disgizing. There's tons of platforms, So
Speaker 4: let's get into it. That's actually where we left off.
Speaker 2: Really.
Speaker 3: Yeah, we talked about Zoom a while ago, spoke Well,
Speaker 3: the crazy thing is that if you're in business, you're
Speaker 3: not new to Zoom, like you've been using Zoom for
Speaker 3: a long time.
Speaker 2: I been using Zoom for years.
Speaker 3: I was actually surprised that not a lot of people
Speaker 3: knew what Zoom was until recently. But we spoke about
Speaker 3: Zoom on the podcast I think a few weeks ago.
Speaker 2: Yep.
Speaker 4: We were actually talking about how if this was going
Speaker 4: to happen, social digital was going to happen, we would
Speaker 4: see video conference and be the thing, and that was
Speaker 4: a stock that we spoke about.
Speaker 2: And now we're back at it. Yeah.
Speaker 3: So if anybody's not familiar, Zoom is a video conferencing
Speaker 3: application that allows you to video conference. It's like FaceTime,
Speaker 3: but it also allows to do like I think, up
Speaker 3: to like a thousand people. It's a max something like that,
Speaker 3: and then it has like different levels that you can
Speaker 3: pay for or different features. And it's real big in
Speaker 3: the business world. And now it's real big in the
Speaker 3: world period because you got all kinds of different things
Speaker 3: where everybody was social distancing, has to communicate with each
Speaker 3: other by not physically being there. So Zoom is really
Speaker 3: taking off. So how this is relevant to everybody's lives
Speaker 3: is because now everybody's on Zoom, whether it's through distance
Speaker 3: learning with your children or yourself, whether it's through your
Speaker 3: job right, whether it's through communicating with relatives, friends, family.
Speaker 2: Like virtual happy hours.
Speaker 3: The user amount went from ten million to one hundred million.
Speaker 2: They went from ten million to two hundred million in two.
Speaker 3: Months, ten million to two hundred million two months. The
Speaker 3: stock price went from sixty four dollars sixty two dollars
Speaker 3: in December to it reached its peak at one hundred
Speaker 3: and sixty four dollars in March. So just in a
Speaker 3: few months, it increased one hundred and sixty four percent.
Speaker 3: When everything else was falling, Zoom was rising.
Speaker 2: We started getting text messages about that thanks.
Speaker 3: And it went up one hundred and sixty four percent,
Speaker 3: and so it's crazy. So now it's like we talk
Speaker 3: about it all the time as far as how you
Speaker 3: got to stay up to date as far as the
Speaker 3: world because everything changes so rapidly. But now we actually
Speaker 3: get to witness it. We actually get to witness the
Speaker 3: world literally changing in fourteen days.
Speaker 2: Like living in it as it's evolvement.
Speaker 4: It's kind of crazy to be a part of because
Speaker 4: everybody says, like, yo, we never thought we'd be here,
Speaker 4: but we're here, and now it was like well three
Speaker 4: or four weeks now that we're into it, So getting
Speaker 4: adjusted to it is a thing, and then now trying
Speaker 4: to survive in it is another.
Speaker 3: Yeah, so let's talk about Zoom. We gonna talk about
Speaker 3: few different things for the conference, but just talk about Zoom. So,
Speaker 3: as I said, I mean, everybody should be aware of Zoom.
Speaker 3: We use Zoom for Eyo University. Shout out to all
Speaker 3: Eyo University members. Most jobs that are you know, doing
Speaker 3: distance communication is using Zoom. Most distance learning is using Zoom.
Speaker 3: So a lot of people are getting familiar with Zoom.
Speaker 3: Like you said, it went from ten million users to
Speaker 3: two hundred million users. A lot of people is downloading
Speaker 3: the app, using it overnight, getting familiar with it, but
Speaker 3: they're not they just getting to know it, right. So,
Speaker 3: but like all things, they've had some issues, right, So
Speaker 3: the issues.
Speaker 4: Yeah, so the major thing, like you said, a lot
Speaker 4: of business corporation has been using it. But when it
Speaker 4: came into the education space, security became a real situation.
Speaker 4: We had kids going into conferences what they're calling is
Speaker 4: zoom bombing, going into them not being invited.
Speaker 2: Kurs and doing all types of profanity.
Speaker 4: So it became a security issue from an education standpoint,
Speaker 4: but on a business standpoint, a lot of people's information
Speaker 4: was being shared, so that became a big thing. Companies
Speaker 4: like Facebook and LinkedIn were getting information based on people
Speaker 4: subscribing and people putting up their ID for their chats,
Speaker 4: so it became a real security issue, and recently New
Speaker 4: York City decided listen, we're banning Zoom. We can't use
Speaker 4: it now for our schools. We have to find alternatives
Speaker 4: for these reasons.
Speaker 3: Yeah, and you know, it's something that all technology companies
Speaker 3: have for Privy too, So it's like Facebook just the
Speaker 3: next one up. Facebook has pay billions of dollars for
Speaker 3: sharing user information. Google has been proven that they've shared
Speaker 3: user information. So this is the world that we live in.
Speaker 3: And Zoom has vowed to take steps to correct this measure.
Speaker 4: Yeah, so now there thing is like rather than making upgrades,
Speaker 4: because it's some things that they could do to improve
Speaker 4: now that they have such a large platform of people
Speaker 4: that are using it, they've maken a vow to listen
Speaker 4: the next sixty to ninety days. Our only thing that
Speaker 4: we're working on is security. So it's a great platform.
Speaker 4: They just want to get the bugs out. So there
Speaker 4: was like an update that happened a few weeks ago.
Speaker 4: They're going to keep updating to make sure that the
Speaker 4: security measures are met so that we don't have instiantis
Speaker 4: like this. But if you are familiar with zoom, and
Speaker 4: it's tough because I've been trying to explain this to
Speaker 4: a lot of people. It was like, you can have
Speaker 4: your own security measures right when you have a conference,
Speaker 4: don't share the idea, or.
Speaker 3: You have a password.
Speaker 2: Also, yeah, you can put.
Speaker 4: Password protect the ID, or when somebody comes into the room,
Speaker 4: you can put they must expimission before entering. You make
Speaker 4: sure that everybody mic is muted before they enter. You
Speaker 4: make sure no screens on before they inter So all
Speaker 4: these things that people who are commenting zoom could.
Speaker 2: Have done or know to do. The new userge they're
Speaker 2: not for making.
Speaker 3: So for like people that are zoom bomb what's zoom bombing?
Speaker 3: Talk about so zoom bombing.
Speaker 4: And I'll give you a perfect example is like if
Speaker 4: we had a video conference, right, We're doing an Eyo
Speaker 4: University webinar and somebody shared like that we didn't have
Speaker 4: part of the group shared that link. They come in
Speaker 4: and they just go off like their MIC's not muted,
Speaker 4: so they might start saying all types of profanity. They
Speaker 4: might have like crazy things up on their screen if
Speaker 4: their video conference button is on, And now that could
Speaker 4: destroy a whole webinar, right, So people that was happening
Speaker 4: in schools, and it was happening in corporations, like people
Speaker 4: having corporate meetings and out of nowhere, like there would
Speaker 4: be like somebody just boom to start cursing in the
Speaker 4: middle of like multi million dollar meetings, which is crazy,
Speaker 4: but that's what you do when you have security labs.
Speaker 3: So all right, So for people that are in business,
Speaker 3: because this is a business podcast and they're setting up
Speaker 3: their zoom, what tips can how do they stop that
Speaker 3: from happening?
Speaker 4: Like we said, so there are precursors before once you
Speaker 4: set up your accounts. When you set up you account,
Speaker 4: there's all types of things you can do when doing
Speaker 4: like a webinar or you're doing a video conference. When
Speaker 4: you go to the settings, you can check everyone's mic
Speaker 4: mutant when entering, everyone's video capabilities muted while entering. That way,
Speaker 4: when somebody comes in the room, you'll know, like wait,
Speaker 4: who is this person, and especially if education you could
Speaker 4: just check over a ten it's like, all right, I
Speaker 4: know that name. If that name is not familiar, you
Speaker 4: don't let them in the room. Like you said earlier.
Speaker 4: You can also put a password when entering, so like
Speaker 4: that password is only given to members who are invited
Speaker 4: to the room. So that password gets entered, you see
Speaker 4: it come up. You can invite them to talk. Those
Speaker 4: are easy steps that people can do. I just don't
Speaker 4: think that people know that those barriers exist.
Speaker 3: And Zoom is so you create the zoom link and
Speaker 3: then you send it. You you send it to anybody
Speaker 3: that you want to have in the Zoom exactly rxactly.
Speaker 3: Zoom is free, right, that's true up to one hundred users.
Speaker 2: One hundred users.
Speaker 4: Yeah, so anything over one hundred users, like some conference
Speaker 4: rooms have a thousand, right, then you're gonna have to
Speaker 4: pay more.
Speaker 2: How much do you pay?
Speaker 3: Uh?
Speaker 2: Their plans vary.
Speaker 4: I know there's one that's ninety nine, there's a three
Speaker 4: to ninety nine plan, and then it goes up from there.
Speaker 2: You know how many people you want a month?
Speaker 4: Yeah, per month, right, which in the business world is
Speaker 4: a small expense. If you have to use Zoom on
Speaker 4: a daily and you having huge numbers of people in
Speaker 4: your conference.
Speaker 2: It makes sense.
Speaker 4: But school districts have to do now is like figure
Speaker 4: out like where we go next? Because that was an
Speaker 4: expense that kept everybody together.
Speaker 2: Now what do we use?
Speaker 3: Okay and Zoom stock? So on the financial side people
Speaker 3: can benefit from it is that obviously you can buy
Speaker 3: a stock. So like I said, that the stock one
Speaker 3: of one hundred and sixty four percent in a few months,
Speaker 3: which is crazy. Then they dropped after all of the
Speaker 3: security stuff came out and dropped. So now it's at
Speaker 3: one hundred and twenty four dollars, so still double what
Speaker 3: it was in December, literally double from sixty two to
Speaker 3: one hundred and twenty four. Will we bullish on the
Speaker 3: stock or parish on the stock?
Speaker 2: Who you're asking if we are?
Speaker 3: Yeah, I'm asking your opinion.
Speaker 4: I like the stock, like I said, I think the
Speaker 4: platform is good. They have some security issues. I'm sure
Speaker 4: they'll be competitors that are trying to compete, but that's
Speaker 4: what everyone's using. Right you got two hundred million people
Speaker 4: at your doing stuff right now.
Speaker 2: I think it's a great stock.
Speaker 4: I don't think that social distance discision is going anywhere
Speaker 4: anytime soon.
Speaker 2: So I think it stays around.
Speaker 3: I'm bullet showing. I'm bullet showing Zoom. I don't know
Speaker 3: if right now it's the best time to buy Zoom stock,
Speaker 3: but I think over the long haul, Zoom is here
Speaker 3: to stay. They've had security issues, but everybody's has security.
Speaker 3: Facebook has more security issues than anybody, and everybody still
Speaker 3: uses Instagram. A lot of people don't even know that
Speaker 3: Facebook owns Instagram, which is mind modeling. And there's people
Speaker 3: on Instagram that say, I don't trust Facebook. I never
Speaker 3: opened a Facebook account and you have Instagram. Man, I'm like,
Speaker 3: did you realize that Facebook owns Instagram's books?
Speaker 2: So hack everybody on Instagram, same company, guys.
Speaker 3: But it's actually a very interesting article about how Mark
Speaker 3: Zuckerberg sage tried to sabotage Instagram because you got jealous.
Speaker 3: That's a whole different story. Maybe we'll talk about that
Speaker 3: on the podcast. But so yeah, I think that long
Speaker 3: term Zoom has a lot more improvement to make. But
Speaker 3: I think it's here to stay. Like I said, I
Speaker 3: was using Zoom before social distancing. Now, as you said,
Speaker 3: I don't think social distancing is going anywhere, So it'd
Speaker 3: be interesting to see.
Speaker 2: But there's a few other apps like that.
Speaker 3: Have come to prominence during this time of social distancing,
Speaker 3: and you know, it really highlights a new way of living,
Speaker 3: like if you think about it, because it's like I
Speaker 3: always tell people, I was telling Jamal this the other day.
Speaker 3: Sixty day, they say, sixty days of doing anything makes
Speaker 3: a haboc. So it's like, at first, when this whole
Speaker 3: social distancing came about, everybody's like nah na da da da.
Speaker 3: And then after a few weeks everybody gets used to it.
Speaker 3: And then after two months this has become normal. So
Speaker 3: now you see virtual happy hours, you see virtual birthday
Speaker 3: parties one. You know, Instagram Lives is going through the roof.
Speaker 3: Right now, you're crazy Quarantine Radio with Tory Lanes Quarantine Quarantine.
Speaker 3: You've seen swissing in versus battles d nice Man Nice
Speaker 3: So now every so now everybody's settling in. I say,
Speaker 3: I to say another app that's changed in the world
Speaker 3: right now.
Speaker 2: House Party. House Party is crazy, house party.
Speaker 3: Shoot. I just found out about house Party. I wasn't
Speaker 3: evenly even aware of the situation. Somebody told me about it,
Speaker 3: and it like download the app and then once they
Speaker 3: told me about it. A lot of people started talking
Speaker 3: about it about house Party.
Speaker 2: Yes, the house Party's dope.
Speaker 4: It's one of those interactive situations where you have video
Speaker 4: conferencings but you can have multiple people in a lot
Speaker 4: of people using it at first as a way to
Speaker 4: do online gaming, right, so like if we're playing a game,
Speaker 4: we can like Heads Up as a popular game on
Speaker 4: that so I can do it virtually. But now it's
Speaker 4: turned into that virtual happy hour spot where people can
Speaker 4: talk to each other and have own separate conversations within
Speaker 4: an app. Man So house Party is one of those
Speaker 4: joints that if you're not up on, definitely get up
Speaker 4: on that.
Speaker 3: I would advise anybody in business. But I said before
Speaker 3: Dana Shanell like she said this during her interview. If
Speaker 3: the business doesn't have a home, it's homeless. She was
Speaker 3: talking about apps. She's like, every business has to have
Speaker 3: an app. So I said to say, I encourage all entrepreneurs,
Speaker 3: all business, anybody that's interested business. If you're not online,
Speaker 3: you don't have a business. That's my sibhilosophy. But taking
Speaker 3: a step even further, if you don't have a way
Speaker 3: to be engaged and interactive with customers, clients, people, other
Speaker 3: employees virtually because we already knew this was coming. This
Speaker 3: is this is the thing about life. Sometimes things gets accelerated.
Speaker 3: We already knew that the world was headed towards a
Speaker 3: virtual reality.
Speaker 4: We spoke about it a lot, even when we talk
Speaker 4: about brick and mortar, Like we said, Yo, listen, if
Speaker 4: you don't have an online presence, you ain't gonna survive.
Speaker 3: Yeah, you can't fight it. You just got to go
Speaker 3: with it, right, So we're seeing you. If you can't
Speaker 3: understand like this play, Like a lot of times people
Speaker 3: get amused by what's going on, they can't actually see
Speaker 3: what's in front of their face. So it's like four
Speaker 3: hundred thousand people's tuned into Tory Lanes with Quarantine Radio,
Speaker 3: and it's like it's entertaining. But if you don't see
Speaker 3: the bigger play behind that, then you're missing it. The
Speaker 3: bigger play is that this is a new way. This
Speaker 3: is a new way. Like I mean as far as
Speaker 3: like virtually the days of physical interaction, as far as
Speaker 3: like seminars, workshops, a lot of these things might not
Speaker 3: really fully ever.
Speaker 4: Recome anytime that we have to interact with people in
Speaker 4: large groups, it's going to be tough, like the trust
Speaker 4: of society won't be there, so large events they can't
Speaker 4: exist in the same way that.
Speaker 2: They used to.
Speaker 4: Tory Lanze is ill though, because, like you said, the
Speaker 4: record on Instagram live for most people, and then the
Speaker 4: other day he went to TikTok and he had the
Speaker 4: most live on there too.
Speaker 3: He's moving crazy, right, I mean, he's doing the right thing,
Speaker 3: and like even for us, like you know, like I
Speaker 3: was saying a couple of days ago, I'm like, we
Speaker 3: need to have a virtual networking event for eyl real
Speaker 3: Estate group. So that's going to happen. And it's like, okay,
Speaker 3: cause I'm I'm seeing online where it's like these virtual
Speaker 3: meetups and it's like sixty people online, and I'm like, okay, well,
Speaker 3: we should have a virtual meetup, meet and greet for
Speaker 3: our Facebook group that we just started privately Facebook group
Speaker 3: for real estate. Get about sixty seventy people in there,
Speaker 3: have them introduce themselves and just have a conversation. It
Speaker 3: sounds crazy until it happens, Yes, And this is the
Speaker 3: world that we live. And so I'm saying that pay
Speaker 3: attention to what's going on because it's changing very quickly
Speaker 3: and you see apps like this. TikTok definitely is another one,
Speaker 3: another one with major security issues. TikTok is a Chinese
Speaker 3: company and it actually they actually had a whole thing
Speaker 3: about it on Capitol Hill where they are obligated by
Speaker 3: the Chinese government to give the users information to Beijing
Speaker 3: and that includes browsing history, messaging photos, all kinds of
Speaker 3: stuff that we know about. And it's so serious that
Speaker 3: five government agencies banned their employees from using TikTok, and
Speaker 3: the Pentagon went so far as to tell their employees
Speaker 3: that their children should not be using TikTok.
Speaker 2: And that's crazy.
Speaker 4: So like most of the world is thinking, like, yo,
Speaker 4: how can I recreate that I'm a Savage challenge or
Speaker 4: any of these challenges, And it's like, not, there's a
Speaker 4: bigger play here, Like y'all got to see that.
Speaker 3: Yeah, they're doing these things with these makeup brushes.
Speaker 2: Oh, the rush challenge, Yeah, and.
Speaker 3: No, it's it's it's entertaining, but I mean, just understand
Speaker 3: what you're doing, Like you're doing these shimmy dances and
Speaker 3: they're they're taking all your information. I mean, I don't
Speaker 3: know what to call it like I'm from I'm from
Speaker 3: a different era.
Speaker 2: We you know what I'm saying.
Speaker 3: I respect what's going on, but I'm just from a
Speaker 3: different I'm cut from a.
Speaker 4: Time I think people are just trying to find ways
Speaker 4: to entertain themselves or find entertainment and you know.
Speaker 3: But you know what, though we said this before too,
Speaker 3: the vast majority of people, unfortunately, will come out of
Speaker 3: this thing worse than they left then they.
Speaker 2: Came, they went into it.
Speaker 3: A select few will come out tremendously better. We've been saying,
Speaker 3: the financially said, there's a lot of opportunity, and the
Speaker 3: vast majority will not be able to see it because
Speaker 3: they will be caught up in entertainment and survival and
Speaker 3: a select few will make a killing.
Speaker 2: We said that.
Speaker 4: We actually had this conversation and we said, like, right now,
Speaker 4: it's survival mode, but for some people to thrive the
Speaker 4: mode we're trying to figure out, like yo, how we
Speaker 4: how we're going to survive the drought, Like we're going
Speaker 4: to survive the drought and do well, So like that's
Speaker 4: the mindset that's got to be, Like, Yo, there's an
Speaker 4: opportunity in here. Like I told people this ain't ideal
Speaker 4: time anymore. This is idea time. So like we got
Speaker 4: to stop thinking like yo, we have so much time
Speaker 4: on here, as now it's time to start creating ideas
Speaker 4: in your head and like, listen, we can thrive here.
Speaker 4: This is an area where we can thrive. And as
Speaker 4: you can see social media, video conferencing.
Speaker 2: There's some space.
Speaker 4: So like zoom has some issues, I'm sure there's somebody
Speaker 4: right now that's trying to say, you know what, we
Speaker 4: can make a better platform than what they have.
Speaker 3: And now it's a good time too to reach out
Speaker 3: to So like even with us with the podcast, and
Speaker 3: I got this idea yesterday, it's like now because at
Speaker 3: first I'm like, it's a couple of big name people
Speaker 3: that I wanted to reach out to get on the podcast,
Speaker 3: and I'm like, oh, now we gotta wait because it's
Speaker 3: slow motion. But then I'm like, actually, this might be
Speaker 3: a beneficial thing because now everybody's home, so they can't
Speaker 3: have the excuse that they are out of town or
Speaker 3: they flying on So maybe this is a good time
Speaker 3: to actually reach out to those people. And what I'm
Speaker 3: seeing online with a lot of creatives and people in
Speaker 3: business is that there's a lot of collaboration, a lot
Speaker 3: of Instagram lives. We're actually doing something with Jay Morrison Saturday,
Speaker 3: shout out to him, and we're doing a live with
Speaker 3: him tomorrow at APM Eastern time if you're listening to
Speaker 3: this and then it comes out on Tuesday. So I
Speaker 3: say that to say it's a lot of collaboration. Definitely
Speaker 3: that's going on, and that is something that is extremely
Speaker 3: valuable as well, because it's like, Okay, everybody's home. People
Speaker 3: are consuming content at unprecedented rates, especially on social media.
Speaker 3: So now you have a platform where you have millions
Speaker 3: of eyeballs that nobody's at work, nobody's at school, nobody's
Speaker 3: at church, and everybody's at home. So are you going
Speaker 3: to make the most of the opportunity, especially the I'm
Speaker 3: talking to content creators right now, You're going to make
Speaker 3: the most of the opportunity or are you going to
Speaker 3: squad into the moment?
Speaker 4: You got to make sure it's valuable too, because now
Speaker 4: you've got to remember that for those same reasons that
Speaker 4: everybody's watching, why are they going to watch you? So
Speaker 4: you got to make sure that the content is valuable
Speaker 4: and that it's worth watching. It's not just some frivolous
Speaker 4: thing that you're putting out because you all competing with
Speaker 4: people who never went on IG live are now there
Speaker 4: and everybody's I saw Rihanna on I Live yesterday.
Speaker 3: Shout out to Benny Pugh. Ben We spoke a few
Speaker 3: days ago, former president of Rock Nation, and he told
Speaker 3: me he was like, all the everybody's doing what they
Speaker 3: should have been doing.
Speaker 2: A year ago, two years exactly.
Speaker 3: Now everybody want to get on Instagram Live and build
Speaker 3: their social media. Now everybody realized how valuable social media
Speaker 3: that you should have been on Instagram Live, should have
Speaker 3: been doing these youtubes. I should have been doing all
Speaker 3: this stuff and even a lot of Instagram Like this
Speaker 3: is a perfect time to create your own situation like
Speaker 3: Tory Lanez and they shut him down, and it's like, okay,
Speaker 3: now now we once again Danny Channel. She was speaking
Speaker 3: about how much power one app has. You see that
Speaker 3: this whole TikTok and Instagram lives is getting moved by
Speaker 3: hip hop artists. Hip hop artists are moving these TikTok
Speaker 3: is the biggest downloaded, number one downloaded Apple twenty nineteen.
Speaker 3: There's more teenagers on TikTok than they are on Facebook.
Speaker 3: Fact moved by hip hop dances and hip hop culture.
Speaker 3: So if that doesn't show you the power and you
Speaker 3: know what I'm saying, what these artists are actually doing,
Speaker 3: if they don't fully understand that, it's like, why not
Speaker 3: create your own your own I would love to see
Speaker 3: Swiss Beats and Timbland. I don't know why they didn't
Speaker 3: do it on their own platform.
Speaker 4: So that's the thing, and I think maybe that's the place.
Speaker 4: So like Versus, they keep using the hashtaging. In my mind,
Speaker 4: I'm like, there must be a bigger platform. I think
Speaker 4: they're building out Versus and when we come back to
Speaker 4: a place where we can actually move around, like I
Speaker 4: think Versus becomes a platform for just that. Right now,
Speaker 4: they have to use Instagram and then they got to
Speaker 4: play by Instagram rules. So like I'm watching every battle
Speaker 4: because just as a fan of the culture, I'm super
Speaker 4: into it. Right but then like every hour they get
Speaker 4: cut off, we gotta come back in. Somebody's WiFi is bad,
Speaker 4: we gotta cut back in. It's like they played by
Speaker 4: Instagram rules.
Speaker 3: Shout out to Swiss beach Man, we gotta get him on.
Speaker 2: And Timbo and Timbo don't leave Timbo out.
Speaker 3: Timbo to King, all right, we got we gotta go
Speaker 3: to this before we run out of town. Distance learning
Speaker 3: something that's near and dear to your heart. And also
Speaker 3: this all relates to video conferencing. Distance learning is something
Speaker 3: that is crazy because this is something that nobody ever
Speaker 3: thought would happen. Nobody ever thought that school would be
Speaker 3: completely shut down, like if anything, that's like a safe
Speaker 3: haven where it's like, if all else fails, we go
Speaker 3: to school, right, And it's like, now, this is like
Speaker 3: New York City just announced that school's gonna be done
Speaker 3: for the rest of the academic year, come back in September.
Speaker 3: Me personally, maybe me personally, I don't think it's going
Speaker 3: to start until twenty twenty one, possibly twenty twenty two.
Speaker 3: People think I'm crazy with the twenty twenty two, but
Speaker 3: this is this is my theory with twenty twenty two,
Speaker 3: because they say, okay, social distance and the only reason
Speaker 3: why this thing is starting to go down the corona
Speaker 3: is that people have been inheriting in social just there's
Speaker 3: no cure for it. It's not going anywhere. And then
Speaker 3: they say that it's going to start to become seasonal,
Speaker 3: so to probably die down and someone will come back
Speaker 3: up in the winter. So it's like, all right, there's
Speaker 3: no cure for it, right, the only way that you
Speaker 3: can really maintain it is to have social distancing. So
Speaker 3: until there's a cure, if we break social distancing, it's
Speaker 3: going to flare back up again.
Speaker 4: So I think what they're saying now is like the
Speaker 4: faster they can get tests that will determine if somebody
Speaker 4: has it or not. If they can multiply that and
Speaker 4: a mass way, then they can start having people open
Speaker 4: up some things.
Speaker 3: So hopefully they said a vaccine twelve to eighteen months,
Speaker 3: eighteen months away from that, so's if the vaccine is
Speaker 3: eighteen months away, that's the end of twenty twenty one,
Speaker 3: beginning of twenty twenty two.
Speaker 4: But that's why the testing becomes even more important. So
Speaker 4: like if I could, if I know, like we saw
Speaker 4: in China, right, they have these thermal scanners, like when
Speaker 4: you walk in a building, like wait, his temperature is
Speaker 4: too high, Sir, we can't allow you in the building,
Speaker 4: or sir, we can't allow you on the bus. Like
Speaker 4: if they can get testing at that rate, then you
Speaker 4: can slowly and I don't think it'll be full blown
Speaker 4: like everybody's back outside, but you can slowly let some
Speaker 4: people outside.
Speaker 3: Yeah, and well there's another issue because a lot of
Speaker 3: people are asymptomatic, so they don't even test, they don't
Speaker 3: have a temperature, but their carriers. It's like ghostbusters, Like
Speaker 3: you're fighting a situation that you can't see, you can't
Speaker 3: determine who has it. So I say that to say,
Speaker 3: social distancing and distance learning might be here to stay,
Speaker 3: and especially if it starts to go pretty decent, it's
Speaker 3: like what's the point of going back to school? But
Speaker 3: not as issues right because it's like from a financial standpoint,
Speaker 3: because this is a business podcast, a lot of parents
Speaker 3: pay a lot of money for daycare. Nobody's talking about that.
Speaker 3: The daycare industry. The daycare industry is in trouble, guys.
Speaker 3: Those daycares cost a lot of money. I think when
Speaker 3: my son was in daycares, paying like a thousand dollars
Speaker 3: a month.
Speaker 4: I had so we had our kids around the same age,
Speaker 4: man we had and I was with you man, fifteen
Speaker 4: hundred in the summer.
Speaker 2: They raise a price.
Speaker 4: It was fifteen hundred a month for a kid. I'm
Speaker 4: like Yo, this is this is like college tuition.
Speaker 3: Yeah, a three year old, Yeah, to just do nothing.
Speaker 4: Let's not there, you always do that. Not the educators
Speaker 4: that are in these places.
Speaker 2: Right, not a shout out to them, but I mean
Speaker 2: it's just it is what it is.
Speaker 3: So now so now you got daycare, which is a
Speaker 3: booming business, and so it's a necessary business because parents
Speaker 3: have to go to work. That's the whole point of
Speaker 3: having a daycare, right, parents have to go to work.
Speaker 3: But now it's like if parents don't go to work
Speaker 3: any because like, the school system is one thing. School
Speaker 3: system is funded. It's a public they're public school.
Speaker 2: Schools.
Speaker 3: Private school are different. But we'll talk about public schools.
Speaker 3: That's one thing because they're not gonna get shut down
Speaker 3: because they're publicly funded. But you got these daycares which
Speaker 3: are not publicly funded for the most part, and they're
Speaker 3: tuition based. So now they don't have any money. So
Speaker 3: now they're they're going to need to bail out. So
Speaker 3: what a lot of them are doing is they're still billing.
Speaker 3: They're still billing parents, they're not refunding any money, and
Speaker 3: they're doing distance learning with kids in daycare. So the
Speaker 3: parents is like, Okay, well why am I paying for
Speaker 3: video conferences with my three year old when I still
Speaker 3: got to work because a lot of people are still working.
Speaker 4: Just think about the concert you just said, right, we're
Speaker 4: doing a video conference with a three year old.
Speaker 2: Number one, what.
Speaker 4: Three year old even knows how to get on a
Speaker 4: video conference platform?
Speaker 2: So like that, it's a parents job now exactly.
Speaker 3: But now so now the parents is like, like I said,
Speaker 3: a lot of people unfortunately are out of work, but
Speaker 3: a lot of people still are actually working from home.
Speaker 3: So now you're trying to work from home and you're
Speaker 3: trying to manage your three year old and you still
Speaker 3: have to pay. You're still paying one thousand dollars a
Speaker 3: month for your daycare because they didn't they didn't refund
Speaker 3: you at least if you're paying like the whole year,
Speaker 3: if you paid a couple months in advance, they they
Speaker 3: haven't refunded you your money. So this is a whole
Speaker 3: industry that might go under because there's a like Matt said,
Speaker 3: commercial real estates on the clock. These are commercial real
Speaker 3: estate properties. They're in commercial real estate buildings. Now their
Speaker 3: rent might be twelve thousand dollars a month, ten thousand
Speaker 3: dollars a month for rent and they have no income
Speaker 3: that comes in for five months.
Speaker 2: Let's save this.
Speaker 3: So now that's fifty thousand dollars that they have they're
Speaker 3: backed up on.
Speaker 2: You know what I mean. That's it.
Speaker 3: Every day care in America could shut their doors by
Speaker 3: the time it opens back.
Speaker 4: Up, and by the time it open backs up and
Speaker 4: there's no where to put the kids, then what right,
Speaker 4: it's a big it's a.
Speaker 3: It's a effect that everybody. I don't think people understand.
Speaker 3: It's like so many different areas that's getting effective by this.
Speaker 4: Yeah, man, especially like you said that the distance learning
Speaker 4: pieces is so key because number one, yeah, you are working,
Speaker 4: but you are trying to teach your kids. So like
Speaker 4: the number one thing, like I have to I have
Speaker 4: two kids, So it was like the best thing I
Speaker 4: could have ever done was made a schedule just so
Speaker 4: we have some structure, right, So like creating a schedule
Speaker 4: where they come in every morning, they know what they
Speaker 4: have to do, they have their technology. I can sit
Speaker 4: down and assiste my son who's in kindergarten, and then
Speaker 4: I can go check out my daughters in third grade.
Speaker 4: Even though my wife is home, she is working like
Speaker 4: all day and it's like, yo, I can't. I can't
Speaker 4: help you right now. So yeah, it's one thing to
Speaker 4: have like people not in school, but like yo, the
Speaker 4: work never stops.
Speaker 2: It doesn't stop.
Speaker 4: And so like if you if I wasn't a parent
Speaker 4: who was in education, I couldn't even imagine, like how
Speaker 4: am I going to help my kids?
Speaker 2: That's what and that's what.
Speaker 4: That's just one part right, Like, and I had this
Speaker 4: conversation earlier. It was like I'm blessed to have the
Speaker 4: technology with this. Families who don't have technology, you know
Speaker 4: what I'm saying. So like this is learning is cool
Speaker 4: if you have the technology to do it. There are
Speaker 4: so many families in so many communities that don't have
Speaker 4: the technology, so then they're just forgotten about. Right, So
Speaker 4: now it's not even a situation of like yo, they're
Speaker 4: learning or not.
Speaker 2: This is like a have or have not.
Speaker 4: We don't even have the socioeconomic resources to even distance learn.
Speaker 4: So now that's like a forgotten population in a sense
Speaker 4: because like how do.
Speaker 2: They learn now? Like people were like, oh, we could
Speaker 2: print out packets.
Speaker 4: I'm like yeah, but then who goes against the package
Speaker 4: and who turns them in and how do they get
Speaker 4: to the person who's going to assess it. It's like
Speaker 4: a whole like dominoal of things in education. It's just
Speaker 4: like like this is real.
Speaker 3: Yeah. And then also it's like a lot of kids
Speaker 3: in school is more than just learning. Learning is not
Speaker 3: even not even nothing when it comes to it. It's
Speaker 3: like when I was watching Loupe Fiasco a few years
Speaker 3: ago and he was like he was he was he
Speaker 3: was speaking to a school in Chicago, and you know,
Speaker 3: he was talking to the principal, and you know, he
Speaker 3: was saying, the principal told him that, you know, the
Speaker 3: majority of the kids only come.
Speaker 2: To school to eat. Mm hmm. That's that's just the reality.
Speaker 3: It's like it's like a lot of a lot of
Speaker 3: kids go to school to eat.
Speaker 2: Yeah.
Speaker 4: And so the public schools, and in this area in
Speaker 4: New York, the epicenter pretty much of the world at
Speaker 4: this point, they still have the schools are still open
Speaker 4: for just that. So like they do provide meals. But
Speaker 4: then but again you have to go out.
Speaker 3: But the problem isn't like people where it's not from
Speaker 3: New York and made you know, most everywhere else in
Speaker 3: the country, you go to school on the school bus.
Speaker 3: If you if you're in New York City, go to
Speaker 3: you go to school, you go to high school, middle school, elementary,
Speaker 3: elementary school on the subway or the bus or the bus.
Speaker 3: Subway or the bus. A lot of kids take the subway.
Speaker 3: So that's now, that's really that's a difference. Now you're
Speaker 3: going into social distancing. You got a hundred people packed
Speaker 3: in a subway car because essential workers are still going
Speaker 3: to work. So as far as just from a health standpoint,
Speaker 3: you're literally sacrificing your life to eat. That's the reality.
Speaker 4: Yeah, because and that's another thing, like people got to
Speaker 4: understand the dynamics of how New York City is. It's
Speaker 4: like you don't just go to school down the street
Speaker 4: from your house, like some kids have to get on
Speaker 4: two trains just to get to school. You know what
Speaker 4: I'm saying. That might be on another side of the
Speaker 4: county that you're in. So like that's a whole other thing, right,
Speaker 4: And as soon as people go back whatever, you are
Speaker 4: victim to anything that happens in these environments. So like
Speaker 4: I've seen things like I remember taking buses like to
Speaker 4: basketball games on the train and it was just like yo, whatever,
Speaker 4: happens on that bus I'm responsible for and I have
Speaker 4: fifteen kids with me, Like, people don't think about those factors. Like,
Speaker 4: so if something happens on that bus, somebody get shot, stabbed,
Speaker 4: there's a fight, we're all part of it now. And
Speaker 4: like those are factors that we didn't have to, like
Speaker 4: have to worry about going to school, but these kids do.
Speaker 3: Yeah, So I mean it's a lot, man, it's a
Speaker 3: lot to unpack there with the distance learning. But I
Speaker 3: think that from a business standpoint, it's gonna it's gonna
Speaker 3: have ripple effects because like the longer you keep kids
Speaker 3: out of school, now parents can't effectively work. So now
Speaker 3: there's no really hope of them getting back into the workforce.
Speaker 3: The average person can't, you know, doesn't have a job
Speaker 3: where they can just take months off at a time.
Speaker 3: So let's say that hypothetically their job opens back up
Speaker 3: and they can they can go to work, but their
Speaker 3: kid is home. What do you do. You either leave
Speaker 3: your kid by itself or you're not working.
Speaker 2: That's a fact, you know.
Speaker 4: And another part of this is, in my petition, is
Speaker 4: there's going to be education reform, right because like what
Speaker 4: is happening throughout the So the SAT gets canceled and
Speaker 4: the ACT gets canceled. All these standardized tests that people
Speaker 4: realize like, yo, we don't even need that to graduate anymore.
Speaker 4: Like that changes it from a business standpoint, like these
Speaker 4: companies are being millions and billions of dollars to have
Speaker 4: their tests given to states, and now it's like, wait,
Speaker 4: we didn't really need that, So that changes I think
Speaker 4: going forward. And as far as distance learning, another part
Speaker 4: of it is how much of it is are we
Speaker 4: really assessing?
Speaker 2: It's like, if we're.
Speaker 4: Not going to be able to check the work, how
Speaker 4: what is the level of work we should be given?
Speaker 4: And then who's creating the rigor like how difficult the
Speaker 4: work is. I think education reform is the next wave
Speaker 4: that comes out.
Speaker 2: Out of this.
Speaker 3: Well we'll see all my teachers stay strong, yeah, yeah,
Speaker 3: stay strong and staying couraged real quick.
Speaker 2: This.
Speaker 4: So the platform we didn't talk about the platforms that
Speaker 4: teachers can use. So Skype is a platform that New
Speaker 4: York City is looking into. Also Google Classroom and there
Speaker 4: is Google Hangout. So Google Hangout is very similar to
Speaker 4: like Zoom where it's inside the Google platform, So there's
Speaker 4: not those same type of security, medicine. Those are platforms
Speaker 4: that educators are using right now. We personally use in
Speaker 4: my district Google Classroom and it works pretty well.
Speaker 2: There you have it.
Speaker 3: So in the next segment, we're going to talk about
Speaker 3: the unemployment, not just the unemployment, you know, bad news,
Speaker 3: but we're gonna talk about different things that people have
Speaker 3: available to them and different options if you do lose
Speaker 3: your job or if you're in uh, lose your job
Speaker 3: in the future. Financially, it's a whole different ball game
Speaker 3: that you have to think about. So we're gonna go
Speaker 3: into that next. All right, So in this topic, we're
Speaker 3: going to talk about something that's extremely, extremely so everything
Speaker 3: we talked about seriously serious times.
Speaker 2: Right then, what this is?
Speaker 3: This is an economic title wave. Like it's one thing,
Speaker 3: the health issue is crazy. The financial issue might even
Speaker 3: be more dangerous because that's going to hurt people that's
Speaker 3: not affected by it, Like you know what I mean,
Speaker 3: if you think about it, it's like.
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Speaker 5: Buying a car and Carvana was so easy. I was
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Speaker 5: you mean finance. Yeah, finance, got pre qualified for a
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Speaker 3: They say, Okay, let's say the vast majority of the
Speaker 3: population and have this virus yet, but a large portion
Speaker 3: could be financially crippled by like one percent of the population.
Speaker 3: If they have, it could affect forty percent of the population.
Speaker 3: So the unemployment numbers right now is crazy due to
Speaker 3: the group seventeen million unemployed within the last three weeks,
Speaker 3: which is eleven percent unemployments up to eleven percent right now.
Speaker 3: They said that the real unemployment is probably in the teens.
Speaker 3: But the Saint Louis FED just released a report a
Speaker 3: few days ago where they said their projections that unemployment
Speaker 3: can get up to forty seven million people unemployed. Sixty
Speaker 3: seven million people are currently at risk of losing their
Speaker 3: job by there in the industry. That's a high risk
Speaker 3: of losing their job. And if the sort of the
Speaker 3: forty seven million number is actually reached, that equals thirty
Speaker 3: two percent unemployment. That's unhistoric. Just to kind of put
Speaker 3: things in perspective, the Great Depression playing was around twenty
Speaker 3: three percent. So we look worst case in their hopefully.
Speaker 2: Doesn't for long duration, right like two or three years.
Speaker 3: Yeah, the worst case, and the thing with this is
Speaker 3: that it just happened so quick, within a couple of weeks.
Speaker 2: That's crazy.
Speaker 3: So worst case scenario, thirty two percent of the population
Speaker 3: will be unemployed. So with that, it's a lot of
Speaker 3: things that come into play when you lose your job. Right,
Speaker 3: So we're going to talk about a couple of different
Speaker 3: things that if somebody has lost their job, somebody knows
Speaker 3: somebody that has lost their job, somebody's spouse has lost
Speaker 3: their job, somebody that might lose their job in the future.
Speaker 3: These are all important things because it's like, you never
Speaker 3: think you can lose your job until it happens.
Speaker 2: Right.
Speaker 4: Nobody prepared for this, right, well, nobody was aware that
Speaker 4: this was going to happen. Some people have prepared, but
Speaker 4: nobody specs like, Yo, I'm working in March tenth and
Speaker 4: March seventeenth, I'm no longer have a job.
Speaker 2: Yeah.
Speaker 3: So the first thing we're talking about is retirement benefits.
Speaker 3: And we talked about this before retirement plans, but so
Speaker 3: the government the Cares Act, that is the stimulus package,
Speaker 3: they changed the laws for retirement plans for this year.
Speaker 3: A couple of things that people should be aware of.
Speaker 3: So if you have a fall one K plan or
Speaker 3: similar type of retirement plan, you are now able to
Speaker 3: take money out if you're no longer work, and you
Speaker 3: can take money out without a ten percent penalty tax.
Speaker 2: For this year. That's important.
Speaker 3: So previously it was a ten percent penalty. Like, if
Speaker 3: you took money out before fifty nine and a half,
Speaker 3: you pay a ten percent penalty, state federal tax, and
Speaker 3: a teen percent penalty tax if you take it out prematurely.
Speaker 3: This year, you can take money out prematurely if you
Speaker 3: can prove you were affected by corona virus, which is
Speaker 3: a majority of people.
Speaker 2: It shouldn't be that hard.
Speaker 4: That's crazy, Like, think about that, Like that penalty, you're
Speaker 4: talking almost forty percent your paying it's almost like a
Speaker 4: forty Like say, if you count state tax, right, we
Speaker 4: live in New York State, you count the federal plus
Speaker 4: the tempercent, you're almost talking forty percent of the money
Speaker 4: that you're trying to take is being taken out taken away.
Speaker 3: Probably more than that depends on your tax bracket. But
Speaker 3: so yeah, so that's that's that's done for this year.
Speaker 3: There's a thing called a sixty day rule where if
Speaker 3: you take money out of a retirement like let's say
Speaker 3: you take money out of IRA, and usually you have
Speaker 3: sixty days to put it back in before you get taxed.
Speaker 3: That's been stretched double. So it's a hund in twenty
Speaker 3: days this year without paying a penalty. They've also allowed
Speaker 3: the amount of loans from your four one K to
Speaker 3: go up. So you know, previously with fifty thousand dollars
Speaker 3: with the max, now it's one hundred thousand dollars. So
Speaker 3: that's changed this year as well. Rm ds required minimum distribution.
Speaker 3: That's like, when you reach seventy and a half, you
Speaker 3: have to start taking money from a retirement account. That's
Speaker 3: waived for this year. Inherited iras like, so if you
Speaker 3: have a parent that's passed away and you inherited their
Speaker 3: four one K, you have to take an rm D,
Speaker 3: like you have to take some money out every year,
Speaker 3: but that's been waived for this year. So the reason
Speaker 3: why they made all these provisions for retirement account is
Speaker 3: that they know that, you know, middle class, working class,
Speaker 3: average American, the majority of the money that they have
Speaker 3: saved is in a retirement account.
Speaker 4: I think it was a statistic, right, sixty six percent
Speaker 4: of Americans don't have a thousand dollars in the savings.
Speaker 4: So the first place that we're going to look for
Speaker 4: money is retirement acount.
Speaker 3: Yeah, so but the problem we're taking money from your
Speaker 3: assirement account. Obviously you deplete your retirement, but also you
Speaker 3: pay a bunch of taxes. So that's why they try
Speaker 3: to make some provisions for this year. So if people
Speaker 3: who have no other option and they have to take money,
Speaker 3: then that's an option that you know is available to them.
Speaker 3: But so that's important for people to understand is that
Speaker 3: those options have changed and different provisions have changed this
Speaker 3: year for the unpreceed situation that we're in, and a
Speaker 3: lot of times, like when you're when you're you're leaving
Speaker 3: a job, it's a lot to think about. So a
Speaker 3: lot of times it's like you don't really make the
Speaker 3: best financial decisions. But options that you have available to
Speaker 3: you can roll into an IRA. We spoke about that
Speaker 3: before in the podcast, where you can actually roll money
Speaker 3: from a four to one K or a pension plan
Speaker 3: into an IRA, right, So that's important to understand the
Speaker 3: benefits of that. With the IRA, usually have more flexibility,
Speaker 3: you have greater diversification, you can work with an advisor,
Speaker 3: you can kind of pick and choose the investments as
Speaker 3: opposed to the ones that's just chosen for you in
Speaker 3: the four one K, So that's important. And then also
Speaker 3: for union jobs. So a lot of union jobs haven't
Speaker 3: been affected yet, but we're in unprecedented times, so nothing
Speaker 3: is really secure. Like I mean, usually we say, okay, teachers, firefighters,
Speaker 3: cops can't get fired because the union is too strong.
Speaker 3: It's like those kind of jobs. But how long can
Speaker 3: we go without you know what I'm saying, It's like
Speaker 3: everything's going to be on the table soon. So, you know,
Speaker 3: re union jobs, or if you're retired, or you know,
Speaker 3: you have a pension plan, that's important to take into
Speaker 3: consideration as well, because a lot of time people don't fully
Speaker 3: understand how pension's work and the different options that you
Speaker 3: you know, you can do when you when you leave
Speaker 3: a job with the pension, like you can roll it over,
Speaker 3: or you can start taking a lifetime income or the
Speaker 3: spousal income. So understanding your retirement account is extremely extremely
Speaker 3: important when you leave a job because now that is
Speaker 3: transitioned from the job having control over it to you
Speaker 3: can actually take control over it. And like I said,
Speaker 3: especially now, like we're talking about the self directed IRA,
Speaker 3: and like that's an option for people or if they
Speaker 3: want to move into a traditional IRA or if they
Speaker 3: have a raw IRA, or they have an inherited ira
Speaker 3: if somebody passed away, right, And it's like now more
Speaker 3: than ever, you need to be financially educated, financially literate
Speaker 3: because these things are extremely important. We actually just did
Speaker 3: a class Yo University about this, like one hour and
Speaker 3: a half about retirement planet.
Speaker 4: But that that class in itself man like and we've
Speaker 4: spoken about this before, but like that class was like
Speaker 4: super informative because I learned some things.
Speaker 2: I'm like, oh okay, because, like you said, being in.
Speaker 4: Education, being in the Union is like, all right, we're
Speaker 4: strong now, but like, Yo, what happens in September when
Speaker 4: they're like listen, we're cutting salaries in half or nobody's
Speaker 4: getting a salary, you know what I'm saying.
Speaker 2: It becomes a real situation.
Speaker 3: Comes to issue. And then another thing we're retiring plan
Speaker 3: is like even if you add a job or if
Speaker 3: you you know, my personal opinion is that if you're young,
Speaker 3: ride it out because we the market. The markets already
Speaker 3: starting to go back up, which is a whole different conversation.
Speaker 2: But a lot of times.
Speaker 3: People panic and they see that full one K goes
Speaker 3: down and they want to cash their money out. So
Speaker 3: that's not really probably the best option because now you
Speaker 3: pay penalties, you pay taxes, and you lose the future growth.
Speaker 3: Where it's like you can just stay the course, or
Speaker 3: you can change how you're allocate, Like you can go
Speaker 3: to a money market account. If you really don't have
Speaker 3: the stomach for stock market, you can always go to
Speaker 3: the money market. People don't understand that. They feel like
Speaker 3: they either have to be fully in invested or they
Speaker 3: have to take that money out. The money market is
Speaker 3: kind of like a sideline where it's like a savings account.
Speaker 3: Pretty much, it's every four one k every il has
Speaker 3: a money market, every single one of them. The money
Speaker 3: market is like a timeout, like you're still in it.
Speaker 3: You don't take the money out, you're not paying any penalty,
Speaker 3: you're not paying any tax. It's still invested, but it's
Speaker 3: not actually in any investment poll. It's just the you know,
Speaker 3: money market. So that's an option that people should be
Speaker 3: aware of. If you feel like this market is just
Speaker 3: too roller coaster for you and you don't feel you
Speaker 3: feel nervous. I got said, I would suggest stay in,
Speaker 3: but if you don't, that's an option before you just
Speaker 3: take your money out. A lot of people don't understand
Speaker 3: that you don't have to just take your money out.
Speaker 3: You can just put it in a money market, wait
Speaker 3: for a minute, wait for things to come back, and
Speaker 3: then you can come jump back in the market.
Speaker 2: Yeah, it's gonna take some pages, man, waiting for things
Speaker 2: to come back. In this climate.
Speaker 3: It's already coming back. I mean the market. If you
Speaker 3: follow the stock market, the stock market's been booming.
Speaker 2: And that that is something like we've got a conversation.
Speaker 4: I'm not sure or quite understand because if you see
Speaker 4: right this tidal wave of its coming of people being unemployed,
Speaker 4: people not having income, people not having funds, how does
Speaker 4: the market keep going up?
Speaker 3: Well, one of the things whise it goes up is
Speaker 3: that it's in the last recession, we had a thing
Speaker 3: called quantitative eason where the FED just pumped money into
Speaker 3: the and now this is like that on steroids. So
Speaker 3: they're pumping trillions, literally trillions of dollars into the economy
Speaker 3: to prop it up. So it's like on stilt right now. Right,
Speaker 3: that's one reason, because it's so much money being pumped
Speaker 3: into it. And the FED has said on national television
Speaker 3: that it will print as much money as we they have.
Speaker 3: The Green light from the government to print as much
Speaker 3: money as possible. So people need to understand, like the
Speaker 3: Federal Reserve, the Federal Reserve is actually not part of
Speaker 3: the United States government. It's a whole separate entity. That's
Speaker 3: a whole different conversation. But the Federal Reserve was set
Speaker 3: up after the Great Depression by the wealthiest elites to
Speaker 3: make sure that the Great Depression never happens again. And
Speaker 3: then there's a lot of other stuff, conspiracy theories into it,
Speaker 3: we won't.
Speaker 2: Go into it.
Speaker 3: But so the Federal Reserve's bank is an outside entity
Speaker 3: that controls the currency, and they really have free range
Speaker 3: to manipulate the market however they want. So, like when
Speaker 3: you see the Fed's lower interest rates, like at any
Speaker 3: point in time, the Feds want a lower interest rates
Speaker 3: they can lower. They want to raise interest rates that
Speaker 3: can raise them. They want to stop printing money, slow down,
Speaker 3: they want to print more money. So right now they're
Speaker 3: just they're just flooding the streets for money right now.
Speaker 4: And that's the thing, Like when you flood the streets
Speaker 4: for money, and what does that do to the value
Speaker 4: of the dollar, and how you stop inflation from happening.
Speaker 4: It's like a big So those are like big dominoes, right,
Speaker 4: Like when we see that on a scale, it's like,
Speaker 4: all right, that makes sense.
Speaker 2: But until you go to the supermarket.
Speaker 4: Now your milk is ten dollars and you have no
Speaker 4: money to get it, It's like, all right, we're back
Speaker 4: to survival mode.
Speaker 3: Yeah, So that's the delicate situation. So most people think
Speaker 3: at some point, I mean I personally think at some
Speaker 3: point the stock market has to come down because especially
Speaker 3: if jobs aren't opening, businesses aren't making money, people getting
Speaker 3: laid off, it doesn't really technically make sense that the
Speaker 3: stock market's going up, right, very puzzling.
Speaker 4: It's puzzling, like and we'll take a sect if we
Speaker 4: looking like the airline sector. We're looking at these airlines
Speaker 4: like they're fluctuating, they're going up, they're going down. I'm thinking, like,
Speaker 4: there's nobody that's flying right now, Like nobody's flying, Like
Speaker 4: flights are going with two or three people on them,
Speaker 4: Like this doesn't make sense.
Speaker 3: And this is just highlights another thing. It reminds me
Speaker 3: of crypto, the crypto days, when you know the sad
Speaker 3: reality of it is that the vast majority of people
Speaker 3: are just pawns in this game where a few people
Speaker 3: really move the pieces. So you have hedge funds, you
Speaker 3: have institutional investors, you have big, big, big players, right,
Speaker 3: and this just shows you that it's no real rhyme
Speaker 3: or reason. A lot of times it's whatever they want
Speaker 3: to do. It wasn't like Wales and reality of it.
Speaker 3: They can move they can move it however they want
Speaker 3: to move it. If this doesn't show you that, I
Speaker 3: don't know what else is. Every single company has the
Speaker 3: most almost ninety five percent companies have they will have
Speaker 3: a negative twenty twenty. They've already written off the year,
Speaker 3: like you know, you're right off a court if they
Speaker 3: wrote off the year.
Speaker 2: Everybody's changed their progestions for the year already.
Speaker 3: Ninety five percent companies rolled off the year three weeks
Speaker 3: in the year's.
Speaker 4: Done three weeks and like so like what does that
Speaker 4: look like two to three months? Right, Because if we're
Speaker 4: talking about like what the government, well the mayor said,
Speaker 4: we're going schools, mean people can't go back to work.
Speaker 4: If nobody goes back to work until the summer, you're
Speaker 4: talking three or four months, three weeks, and that's what.
Speaker 2: It looks like. This is we in for some some
Speaker 2: different type of time.
Speaker 3: So wash the stock market. Shout out to Ian, Shout
Speaker 3: out to Wall Street trapper, Shout out to everybody that's
Speaker 3: educating the people, because you can make money in this market.
Speaker 3: I'm invested in the market. You know, a lot of
Speaker 3: us are still invested in the market. And I'm playing
Speaker 3: the game. Yeah, I'm learning. I'm playing it, and I'm learning.
Speaker 3: I'm playing a game, and I understand that I'm not
Speaker 3: making the rules. I'm not trying to act like I'm
Speaker 3: in control of it. But okay, there's money to be made.
Speaker 2: We're gonna try to make it's legal.
Speaker 3: It's not like you're doing anything unethical. I mean, it
Speaker 3: doesn't make sense, but whatever, somebody's gonna do it, so
Speaker 3: why not all right? Well, so okay, so staying on
Speaker 3: track with unemployment. Yeah, another big issue for people is healthcare,
Speaker 3: especially now whatever what coronavirus is, like, you know, your
Speaker 3: health health is the number one issue. So healthcare is
Speaker 3: a big situation because obviously when you lose your job,
Speaker 3: now you have to make decisions about your health insurance.
Speaker 3: So it's a thing called cobra, right, want to talk
Speaker 3: about cobra.
Speaker 4: Yeah, So cobra is a continuation of your health insurance
Speaker 4: for anybody that loses their job, and it depends on
Speaker 4: your employer, but it usually after you use your job
Speaker 4: and you lose your health benefits.
Speaker 2: You can apply.
Speaker 4: You have sixty days to apply for COBRA, which will
Speaker 4: continue your health insurance. The biggest difference is that you
Speaker 4: have to pay the premium. So whereas if you worked
Speaker 4: in education, right the premium won't be as high because
Speaker 4: it's a union and the rate is going to be
Speaker 4: a lot lower. Now with COBRA, you have to pay
Speaker 4: the premium up front. One interesting thing that I found
Speaker 4: out was like people that are furlough so like people
Speaker 4: lose their jobs, they can apply for COBRA within sixty days.
Speaker 2: People are furloughed, COBRA is not a qualifying event.
Speaker 4: So those people, you know, hopefully their employees can continue
Speaker 4: their help benefits.
Speaker 2: If the some do, some don't. I think they're in
Speaker 2: an interesting space, like what do those people do because
Speaker 2: a lot of people are being furloughed.
Speaker 4: Eventually, I'm thinking if this continues, they'll eventually be laid
Speaker 4: off and then they will be.
Speaker 2: Qualified for COBRA. But it's a very slippery slope right now.
Speaker 4: Man health insurance right now is I mean, what will
Speaker 4: we do with that without that right now?
Speaker 2: Especially in a health crisis.
Speaker 4: Imagine that you don't have health insurance and now you're
Speaker 4: in a health crisis. Yeah, you don't have a job
Speaker 4: to pay the premium.
Speaker 3: Yeah, So Cobra Yeah, Cobra is for people that, like
Speaker 3: you said, got laid off. And the thing with Cobra
Speaker 3: is that you get to keep your same plan, but
Speaker 3: the premiums go out substantially. They could go up substantially
Speaker 3: because now your employer is no longer paying that portion
Speaker 3: of it.
Speaker 4: A lot of times the employer has government and set
Speaker 4: assistance put inside the plan, so they paid some of
Speaker 4: it to them and pay something.
Speaker 2: Now it's all on you. Yeah.
Speaker 3: And then also you're no longer part of that group,
Speaker 3: so everything is always lower with a group. That's why
Speaker 3: it's called group insurance as opposed to individual insurance. So
Speaker 3: now if you're on Cobra, you're on the outside. So
Speaker 3: if you were paying let's say two point fifty a
Speaker 3: month for your health insurance at your job, now a
Speaker 3: Cobra you could be paying seven hundred dollars a month,
Speaker 3: six hundred dollars a month because now you know it's
Speaker 3: no longer being subsidized. It's the same plan, but now
Speaker 3: you have to pay. So now obviously that's an issue
Speaker 3: because you're not working, so you're getting paid less money,
Speaker 3: but you have a higher expense on the cobra, which is.
Speaker 4: Which is why in my mind, and we sold the
Speaker 4: federal government. They changed the unemployment rate, right, so well,
Speaker 4: not the unemployment, the unemployment insurance amount, so that they've
Speaker 4: added six hundred dollars to it to whatever you were getting, right,
Speaker 4: depending on how much you've made this a percentage's actually
Speaker 4: a calculation. You can determine how much your unemployment insurance
Speaker 4: check is. But they've added six hundred because of these
Speaker 4: type of expenses. Right, somebody's gonna go on a crow,
Speaker 4: but they don't have income. We're going to have to
Speaker 4: give them more money. And like if this doesn't, I mean,
Speaker 4: they actually extended it, I think unemployment from twenty six
Speaker 4: weeks now to thirty nine weeks because they're seeing it
Speaker 4: like this is gonna last for a.
Speaker 2: While, and we have to have people with money. We
Speaker 2: have to give them some type of income.
Speaker 3: Yeah, and you know another thing that people have available
Speaker 3: to them sometimes is the ACA Affordable Health Affordable Care
Speaker 3: Act that was better known as Obamacare.
Speaker 2: Obamacare Act, and Medicaid.
Speaker 3: So, you know, the interesting thing about medicaid is that,
Speaker 3: you know, each Medicaid Medicaid system is really screwed up
Speaker 3: because it's there's really no set thing for it. It
Speaker 3: depends on your income. Each state is different. You can
Speaker 3: like apply on the state website. But they said that
Speaker 3: it estimated six million adults that actually qualify for Medicaid
Speaker 3: are not enrolled. So that's another option as well, because
Speaker 3: with Medicaid is like you don't really pay for anything.
Speaker 3: It's like pretty much free in a sense. So a
Speaker 3: lot of times, you know, it does don't really have
Speaker 3: the best stigma attached to it. Medicaid is like, you know.
Speaker 4: People think they're not getting the best health professionals to
Speaker 4: be doing the job.
Speaker 3: Well, guess why you're not getting the best health professionals anyway,
Speaker 3: unless you're rich.
Speaker 2: What's the reality of it?
Speaker 3: So, yeah, it's free, So I that might be something
Speaker 3: that a lot of people should look into as well,
Speaker 3: Like I said, with researcher and they said that six
Speaker 3: million people that actually qualify for Medicaid are not enrolled.
Speaker 3: In medicaid, just lack of awareness, lack of awareness, and yeah,
Speaker 3: lack of awareness would I.
Speaker 4: Would say lack of awareness more than stigma. I don't
Speaker 4: even think people know that.
Speaker 2: You don't think people have the stigma with medicaid? No, No,
Speaker 2: I don't think people know that they qualify for it.
Speaker 3: Because of the stigma attached to it. They think medicaid
Speaker 3: is just strictly for you know, poverty, like extreme poverty,
Speaker 3: senior citizen and things that the nature.
Speaker 2: They don't.
Speaker 3: But you can be working class. Poverty is a real thing,
Speaker 3: and you might have a full time job and technically
Speaker 3: be in poverty. It's the reality of them. Middle class
Speaker 3: poverty happens.
Speaker 4: We had that argument, right, we were doing working class,
Speaker 4: middle class, rich, poor.
Speaker 2: We had like this whole debate about that. But that's
Speaker 2: a fact.
Speaker 3: Yeah, there's no middle class, either rich or poor.
Speaker 2: We're gonna fall in between one of those.
Speaker 3: Yeah, because realistically, it's like Ian Sam, if you don't
Speaker 3: have sixty months saved, you're screwed. And it's like, Okay,
Speaker 3: that sounds crazy, but that's what that's.
Speaker 2: When we said it. We were like, yo, that's crazy.
Speaker 3: That's wealthy because it's like Okay, Now this is exposing
Speaker 3: like what we've been saying for ever that no matter
Speaker 3: how much money you make, a lot of people are
Speaker 3: one paycheck away from a financial crisis. If you're one
Speaker 3: paycheck away from a financial crisis, you're poor, You're in poverty.
Speaker 2: You have no reserves.
Speaker 4: That's one of the things like in shout out to
Speaker 4: Ian and shout to map, but we've been stressing that,
Speaker 4: like you got to have reserves. Like I told you
Speaker 4: when you told me at twenty six, like, yo, you
Speaker 4: need to have six to twelve months to live off of.
Speaker 4: And I was like, y, all right, that's the standard.
Speaker 4: And then when he said sixty, I was like.
Speaker 2: I'm in the wrong boat. I got to readjust what
Speaker 2: I was.
Speaker 4: Thinking, because he's right, like, this is a financial crisis.
Speaker 4: This is a health crisis and a financial crisis at
Speaker 4: the same time. So like that's five years.
Speaker 2: Yeah, really how long people survive? Yeah?
Speaker 3: So and then it's like with the Obamacare, the ACA
Speaker 3: that's open enrollment once again, and the issues that they're
Speaker 3: having is that they haven't changed it, like you would
Speaker 3: think that they would make some provisions for like enrollment
Speaker 3: and different things. Because it was going on but for
Speaker 3: the most part, they really haven't. So a lot of
Speaker 3: people are mad about that in the administration, and it's
Speaker 3: kind of a lot of it's a lot of lag
Speaker 3: time on everything.
Speaker 2: I mean, at first they wanted to get rid of it.
Speaker 4: Yeah, so now it's like why even go revisit it
Speaker 4: when they try to get rid of in the first place.
Speaker 3: So healthcare is something that you know, people should be
Speaker 3: aware of. Another thing that people should be aware of
Speaker 3: is their insurance. And were talked about this before as well,
Speaker 3: especially you know, talking about life insurance right specifically talk
Speaker 3: about life insurance. A lot of times people think that
Speaker 3: they're good, quote unquote, I'm good because they.
Speaker 2: Haven't you have it all the time.
Speaker 3: I'm good you have insurance at your job. But no,
Speaker 3: you're really not, because it's like, what happens is that
Speaker 3: this is a perfect example. If you lose your job,
Speaker 3: a few things happen. It's one you can keep your insurance.
Speaker 3: That doesn't really happen for the most part, but you
Speaker 3: can keep your insurance in the same majority of the time,
Speaker 3: what happens is that you no longer have your insurance
Speaker 3: or just like the health insurance, you can keep your insurance,
Speaker 3: but the premiums go up. One thing about you know,
Speaker 3: life insurance how the job, is that the premiums are
Speaker 3: extremely low because once again it's covering a group, right,
Speaker 3: So you might have like one hundred thousand dollars policy
Speaker 3: for like ten dollars a month, like five dollars a month.
Speaker 3: I'm like that, it's like next to nothing.
Speaker 2: I was gonna say, thee hundred thousand sounds like most
Speaker 2: of the ones I've seen.
Speaker 3: Well, sometimes they let you get like double your income.
Speaker 3: It depends on how much money you make, so it's
Speaker 3: all relative. But I say that to say it's good
Speaker 3: to have because it's a low risk as far as
Speaker 3: like it doesn't really cost you, you think, sometimes even free.
Speaker 3: But the problem with having life insurance that as your
Speaker 3: only source of life insurance is that this right now,
Speaker 3: so a lot of times when you leave your job,
Speaker 3: you can't it's not transferable, you can't take it with you.
Speaker 3: So now if you were depending on that, if you
Speaker 3: got three kids at home, not only are you in
Speaker 3: the midst of a financial crisis because you don't have
Speaker 3: any money coming in, but God forbid you die good,
Speaker 3: which is a high likelihood at this point because I've
Speaker 3: grown up and everything else going on is life is
Speaker 3: extremely so now you can die and you leave your
Speaker 3: family nothing.
Speaker 2: Wow.
Speaker 3: So this is a whole domino effect and it's much
Speaker 3: deeper than most people think about.
Speaker 2: Wow. But once again, I meante.
Speaker 4: Thinking about the premiums as you said it just now,
Speaker 4: like I hadn't even thought of that. Imagine that you
Speaker 4: lose a life insurance and you do have to pay
Speaker 4: the premium, Like, let's take the life insurance, now take
Speaker 4: the health insurance premium, I mean the Cobra premium, Like
Speaker 4: Something're gonna have to give up. Something you have to say, look,
Speaker 4: I can't pay one of these.
Speaker 3: Yeah, And it's a learning experience. And once again, not
Speaker 3: to play the role of like I told you so,
Speaker 3: but this is things that we've spoken about on the
Speaker 3: podcast for months and hopefully people take heed to it
Speaker 3: right because it's like it's unfortunate. But most time people
Speaker 3: don't really learn until something that happens. And this is
Speaker 3: like a perfect example of why you should budget, why
Speaker 3: you should live, why you should live below your means,
Speaker 3: why you should save for or any day, why you
Speaker 3: should have outside of insurance. These are all things that
Speaker 3: a lot of people don't do. But now you see
Speaker 3: why it's important. And at one point, hopefully in the
Speaker 3: near future, but at some point we will we will
Speaker 3: get back to living. We don't know how that's gonna look,
Speaker 3: but we'll get back to living and people will get
Speaker 3: back to working. And it's important for people to not
Speaker 3: forget this. So even if you're not in a position
Speaker 3: to do this now, when you are in a position,
Speaker 3: don't forget this. Don't forget to have your emergency fund,
Speaker 3: don't forget to have your retirement account in order, don't
Speaker 3: forget to have your insurance. Don't forget all of these
Speaker 3: different things. Your credit there's another thing we're talking about.
Speaker 2: Credit.
Speaker 3: It's something to fall back on. As Cash spoke about
Speaker 3: that on the Live. It's like, if you have great credit,
Speaker 3: you lose your job, you can still you can live
Speaker 3: off of credit for a certain amount of time.
Speaker 2: A lot of people are not even thinking.
Speaker 3: It's not the best option, but it's an option. It's
Speaker 3: better than you know nothing. Yeah, that's the fact. Yeah,
Speaker 3: so that's one of the first.
Speaker 2: Things you did.
Speaker 4: He was like, Yo, I'm about to try to increase
Speaker 4: my credit limit because like, yo, an event that I
Speaker 4: need to have it.
Speaker 2: I want to have it. Yeah.
Speaker 4: I was like, all right, I'm not the first thing
Speaker 4: that I'm on that I'm on that time too, let's
Speaker 4: do it.
Speaker 3: The first thing when this thing really started to get
Speaker 3: like crazy weeks ago, the first thing I did was
Speaker 3: to call all my credit cards, increase my credit limits,
Speaker 3: take out balanced transfers, twelve month free loan. I don't
Speaker 3: even need the money, but bunker down, I said I would.
Speaker 3: I learned that early on when when when it ships
Speaker 3: the fit, you got to bunker down. You got bunker down,
Speaker 3: cut all your expenses, not getting no car, not doing
Speaker 3: nothing right now, like everything is like stack the it's
Speaker 3: on hold right now because now this is the time
Speaker 3: to educate yourself. This is another thing too, This is
Speaker 3: a time to educate yourself. Plan but stack as much
Speaker 3: money as you possibly can because it's going to the
Speaker 3: reality of it's gonna be some opportunities. Me personally, I
Speaker 3: think real estate is gonna fall. I think the stock
Speaker 3: market's gonna fall again.
Speaker 4: So we're not gonna let it happen again where there
Speaker 4: was opportunities and we.
Speaker 2: Didn't have the income to take advantage.
Speaker 4: This time around, there's definitely gonna be opportunities and we're gonna,
Speaker 4: we're gonna, we're gonna make sure we have the income
Speaker 4: to take advantage.
Speaker 3: I'll put money in the street. I don't put a
Speaker 3: lot of money in the street. I don't put a
Speaker 3: lot of money in the street. Hold you man, it's
Speaker 3: gonna be a lot of money made. That stock market
Speaker 3: is gonna stock market and real estate is gonna be
Speaker 3: prime is gonna be.
Speaker 4: Just on an educational standpoint for people who are having
Speaker 4: financial issues, student loan, and we didn't we didn't talk
Speaker 4: about it, but I'm just really quickly student loan. If
Speaker 4: you have federal student loans, those have been suspended till September.
Speaker 4: So if you have a federal student loan, you don't
Speaker 4: have to do anything. They stop making payments. However, if
Speaker 4: you would like to still make payments, I know some
Speaker 4: people in that position were like, you know what, I
Speaker 4: still want to give my student loans not really crippling
Speaker 4: me if I pay it. All the money that you
Speaker 4: pay up from now until September will go directly to
Speaker 4: the principle, which is important, right, So you're not paying
Speaker 4: any interest on the money that you pay from now.
Speaker 2: Until mid September.
Speaker 4: So if you want to take advantage of that, that's
Speaker 4: also a great opportunity to tie down some of that
Speaker 4: student loan because, like you said, credit, credit is important
Speaker 4: and a lot of people are struggling with their credit
Speaker 4: because of student loans. So this is a good time
Speaker 4: if you have the cash to do it, take advantage
Speaker 4: of it.
Speaker 3: Yeah, take advantage of everything right now. Yeah, apply for it,
Speaker 3: take advantage of it because it's out there.
Speaker 2: Yeah, small business loans, all that, take advantage.
Speaker 3: Yeah for sure. So yeah, so yeah, that was something
Speaker 3: that I felt that was needed. You felt like it
Speaker 3: was needed. You know, we're going to get back to
Speaker 3: story time and some other entertaining stuff later on, but
Speaker 3: this was a state of the Union. Yeah, serious times
Speaker 3: right now. So we just want to make sure that
Speaker 3: everybody's informed, and we're gonna be doing this periodically. We're
Speaker 3: gonna get back to like the regular format of the show.
Speaker 3: There's really no regular format could be changing so much.
Speaker 3: But you know, but from time to time, I think
Speaker 3: that it's important kind of like a news outlet where we,
Speaker 3: you know, inform people of what's going on, how they
Speaker 3: can take advantage and how they can adapt. And I
Speaker 3: think right now. More than that, there's a lot of
Speaker 3: uncertainty in the world that we live in and especially
Speaker 3: in our community. So it's important that people just are
Speaker 3: informed first and foremost and hopefully you know, people can
Speaker 3: you know, benefit actually because this opportunity, there's always opportunity
Speaker 3: and tragedy unfortunately, and this is no different. There's opportunity.
Speaker 3: There's a lot of opportunity out here. So the key
Speaker 3: is to actually, you know, a stay safe, that's that's
Speaker 3: first and foremost, but also learn, learn and stay informed
Speaker 3: as well.
Speaker 4: So we take great responsibility in that. So, I mean,
Speaker 4: we said that all the time, man like, we want
Speaker 4: to give information. A lot of people right now, you
Speaker 4: don't see them that will give three months ago in
Speaker 4: their respective areas no where.
Speaker 2: To be found.
Speaker 3: I'm glad you said that.
Speaker 4: We want to make sure that we are right in
Speaker 4: front of y'all giving you all information as we get it.
Speaker 4: We're reading every day, trust me, with researching and reading
Speaker 4: every day, and we won't provide y'all with the information
Speaker 4: as we get it. So we're gonna stay right in
Speaker 4: front of the camera, right in front of y'all, taking
Speaker 4: care of our audience. Because there's no us without y'all.
Speaker 4: So we're gonna we're gonna make sure that we deliver
Speaker 4: every time.
Speaker 3: Yeah, and a lot of those guys in real estate,
Speaker 3: some of them are actually we were cool with. And
Speaker 3: the thing about it is and that's one of the
Speaker 3: reasons why we started our private Facebook real Estate group.
Speaker 3: Shout out to MG the mortgage guy. He's been heading
Speaker 3: that up for us. He's one of the people that
Speaker 3: stayed active throughout this whole thing, educating people and give
Speaker 3: them information. Because it's like we feel like we know
Speaker 3: we've we've we've done so much with real estate, probably
Speaker 3: more episodes than any other topic by a long shot,
Speaker 3: that we wanted to just create a community. So, you know,
Speaker 3: Eyo University, you know, we have the weekly webinars, and
Speaker 3: we have the workshops and we have a lot of
Speaker 3: other stuff. But it was like, how can we add
Speaker 3: to Eyo universe. Seeing how we decided to add to
Speaker 3: it is to have the Facebook group real Estate Private
Speaker 3: real Estate Facebook Group and if you're a member of
Speaker 3: Eyo University, you get access to that, or you could
Speaker 3: just join the private Facebook group. And I think that
Speaker 3: it was something that was needed. Was kind of going
Speaker 3: back and forth and the Facebook group is just just
Speaker 3: ring Man. It's Ringing and we just started a few
Speaker 3: weeks ago and it's it's on fire right now.
Speaker 2: And we got a lot of alumni in there too,
Speaker 2: so MAT's running it. But we got a lot of alumni.
Speaker 2: We got some Brandon rules brand and rules in there.
Speaker 2: We got extended family in there.
Speaker 3: Credit credit dude is coming in.
Speaker 2: Scott's in there.
Speaker 4: Yeah, so we got we got some some family in there,
Speaker 4: and we're in this.
Speaker 3: And we're gonna be doing like weekly webinars exclusively for the.
Speaker 2: We got a book club, we got a movie book club.
Speaker 3: And the good thing with that too is that like
Speaker 3: like MG, the mortgage got like he gives his cell
Speaker 3: phone number out in that group, so you have direct access.
Speaker 3: And these are these are discussion boards where it's like, Okay,
Speaker 3: somebody like I'm buying my first home and I'm trying
Speaker 3: to get a two three k lo and anybody have
Speaker 3: some suggestions for contractors and then people are like, oh,
Speaker 3: you should holler at this person. Was like, it's turned
Speaker 3: into a real community so fast too, No, very quickly.
Speaker 3: So if you're interested in joining that, you can go
Speaker 3: to our website. Eyl university dot com. And we know
Speaker 3: that times are hard right now, so we actually have
Speaker 3: a promo code for our earners which is a sixty
Speaker 3: percent off discount, and that is for eyl University, which
Speaker 3: gives you access to the Facebook group and it's one
Speaker 3: hundred and forty nine dollars for the year. Yeah, so
Speaker 3: I mean that's less than twelve dollars a moth.
Speaker 4: We got We got sixty five archive already, webinars up
Speaker 4: on the page, so you're getting a lot of content
Speaker 4: and you're getting up to date stuff like massing there
Speaker 4: every day, hitting you up with new information. We're on
Speaker 4: there doing live webinars. We got a lot of our
Speaker 4: alumni and special guests coming on doing webinars, so it's
Speaker 4: tremendous value.
Speaker 3: Yeah, and we got our new show, We're mastering the
Speaker 3: Art of Content. So this is the first show that
Speaker 3: we're producing live. It's a live show every Monday on
Speaker 3: YouTube at eight o'clock Eastern Standard Time with our guy
Speaker 3: asked to investor, Ian Dunlapp just finished the first one,
Speaker 3: which was amazing, and so every Monday, put it on
Speaker 3: your calendar. It's a live show. You can ask questions
Speaker 3: on YouTube and then it's saved to our YouTube channel
Speaker 3: after and that's the first show that we're executivecing under
Speaker 3: the Eyo umbrella. So shout out to Ian and we're
Speaker 3: gonna talking about the stock market, every single moning going
Speaker 3: about the stock markets. Market mondays with Ian. So yeah,
Speaker 3: we got a lot of stuff going on. We're encouraged.
Speaker 3: We you know, you guys, stay encouraged. It's important to
Speaker 3: you know, keep your spirit up right now. Can't get
Speaker 3: you know, mentally down, Gotta stay up, Gotta stay in
Speaker 3: a fight, gotta educate yourself now more than other. So
Speaker 3: we're gonna be producing a whole bunch of content to
Speaker 3: get you ready when it, when it, when the lights
Speaker 3: come back on, you can just hit the ground running.
Speaker 2: Keep your moral high, keep your faith even high.
Speaker 3: And then some parting words.
Speaker 4: Yeah, yeah, we just want to say rest in peace
Speaker 4: to Earl Graves, the founder of Black Enterprise.
Speaker 2: He was a leader in the entrepren nor world.
Speaker 4: And we always say that a lot of times, if
Speaker 4: you can't see something, it's tough to aspire to be it,
Speaker 4: and he made sure that we did that for decades.
Speaker 4: So we want to give a rest and peace to
Speaker 4: him and all the Black Enterprise family. I know his
Speaker 4: son is running the company now, but Earl is a
Speaker 4: tremendous pillar in our community so and he's a not
Speaker 4: more for residents too. So we lost a pillar in
Speaker 4: our community. So rest and peace to Earl Graves Senior.
Speaker 4: You'll be truly missed.
Speaker 3: Yeah espressing peace for sure. You guys, stay safe. Thank
Speaker 3: you for rocking with us. We'll see you next week.
Speaker 3: Peace peace.
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