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Thank you guys 19 00:01:25,760 --> 00:01:30,399 Speaker 3: for tuning into episode one. Continue to let us know 20 00:01:30,480 --> 00:01:33,559 Speaker 3: your feedback. But we appreciate you guys, But we're gonna 21 00:01:33,560 --> 00:01:36,600 Speaker 3: get right into it. It's a second week, second episode, 22 00:01:37,280 --> 00:01:38,320 Speaker 3: So Troy when we started. 23 00:01:38,240 --> 00:01:40,200 Speaker 4: Let's start at the end, let's started to propose, and 24 00:01:40,240 --> 00:01:43,679 Speaker 4: then the government shutdown, the longest shut down in the 25 00:01:43,720 --> 00:01:46,520 Speaker 4: history of the United the United States, thirty five days, 26 00:01:47,360 --> 00:01:52,200 Speaker 4: eight hundred thousand federal workers without pay, lost to paychecks. 27 00:01:53,320 --> 00:01:53,600 Speaker 5: It was. 28 00:01:53,680 --> 00:01:56,360 Speaker 4: It was a terrible story, just the testimony to hear 29 00:01:56,440 --> 00:01:59,880 Speaker 4: some of some of these federal workers losing out on 30 00:02:00,720 --> 00:02:02,760 Speaker 4: the fact that they couldn't pay bills, the fact that 31 00:02:02,800 --> 00:02:07,360 Speaker 4: they couldn't afford food. I mean, you saw these stories, 32 00:02:07,400 --> 00:02:10,160 Speaker 4: countless stories on the news in the recent weeks, and 33 00:02:11,440 --> 00:02:14,280 Speaker 4: it rose our attention as to something that we've heard before. 34 00:02:15,080 --> 00:02:17,840 Speaker 5: And that was one of the lines that jay Z. 35 00:02:17,800 --> 00:02:22,320 Speaker 4: Said, in anticipation for precipitation, staped chicks for a rainy day, 36 00:02:23,880 --> 00:02:26,239 Speaker 4: and that rainy day could be anything. It could be 37 00:02:26,320 --> 00:02:29,560 Speaker 4: a government shut down, it could be a loss of 38 00:02:29,560 --> 00:02:32,640 Speaker 4: a job, it could be a death in a family. 39 00:02:33,560 --> 00:02:36,080 Speaker 4: So those rainy days we have to prepare for. And 40 00:02:36,240 --> 00:02:39,600 Speaker 4: what better way to talk about that than you know, 41 00:02:40,400 --> 00:02:43,959 Speaker 4: with our financial advisor about that what things we could 42 00:02:43,960 --> 00:02:46,160 Speaker 4: put in place to plan for these rainy days. 43 00:02:46,240 --> 00:02:47,800 Speaker 2: Yeah, and that's a real world example. 44 00:02:47,960 --> 00:02:51,720 Speaker 3: Like you said that, jay Z's line is it's classic 45 00:02:51,800 --> 00:02:53,640 Speaker 3: for a few different reasons. But I know we quote 46 00:02:53,680 --> 00:02:55,440 Speaker 3: jay Z a lot, but he says a lot of 47 00:02:55,440 --> 00:02:57,080 Speaker 3: good things if you actually take the time to listen. 48 00:02:57,080 --> 00:03:00,639 Speaker 3: When he said in anticipation for precipitations, chips for a 49 00:03:00,680 --> 00:03:03,280 Speaker 3: rainy day, what he's really saying is that you got 50 00:03:03,280 --> 00:03:05,440 Speaker 3: to put some money away, right at the end of 51 00:03:05,480 --> 00:03:07,760 Speaker 3: the day, You got to put some money away in 52 00:03:07,840 --> 00:03:10,240 Speaker 3: case of these type of situations. But it really highlights 53 00:03:10,240 --> 00:03:12,360 Speaker 3: a broad a point where a lot a lot of people, 54 00:03:12,480 --> 00:03:16,200 Speaker 3: unfortunately in America, you know, live paycheck to paycheck, right, 55 00:03:16,600 --> 00:03:19,800 Speaker 3: So what happens that the danger in that is that 56 00:03:20,680 --> 00:03:24,720 Speaker 3: when that paycheck stops, you're screwed, right, for lack of 57 00:03:24,760 --> 00:03:26,440 Speaker 3: a better word. So you know, you saw a lot 58 00:03:26,480 --> 00:03:31,200 Speaker 3: of government employees on food lines and they couldn't eat properly. 59 00:03:31,320 --> 00:03:33,799 Speaker 3: You know, they was, they couldn't pay their rent, they 60 00:03:33,840 --> 00:03:36,400 Speaker 3: couldn't do anything. And that really comes down to that 61 00:03:36,480 --> 00:03:40,200 Speaker 3: they didn't have money saved, right. And one of the things, 62 00:03:40,200 --> 00:03:41,720 Speaker 3: you know, it's hard to save money if you live 63 00:03:41,760 --> 00:03:44,160 Speaker 3: paycheck to paycheck because the money that you get is 64 00:03:44,200 --> 00:03:46,560 Speaker 3: the money that you're spending, right, So how do you 65 00:03:46,600 --> 00:03:50,280 Speaker 3: ever save money if you don't have enough money to 66 00:03:50,320 --> 00:03:52,200 Speaker 3: actually save and it's. 67 00:03:52,000 --> 00:03:54,720 Speaker 5: No fault of their own right. A lot of Americans 68 00:03:54,720 --> 00:03:55,440 Speaker 5: are in that position. 69 00:03:55,520 --> 00:03:58,760 Speaker 3: Well, we can't say that because each individual situation is different. 70 00:03:59,080 --> 00:04:01,720 Speaker 3: Sometimes it is some as fall right, Sometimes it's not 71 00:04:01,760 --> 00:04:04,640 Speaker 3: there fora sometimes it is therefore, because you know, you 72 00:04:04,720 --> 00:04:08,480 Speaker 3: might spend money on frivolous things, or you might not 73 00:04:08,960 --> 00:04:11,400 Speaker 3: you know, pay yourself first, you might not budget. 74 00:04:11,480 --> 00:04:13,480 Speaker 2: So can't we can't just say that. 75 00:04:13,880 --> 00:04:14,960 Speaker 5: I'm not saying in that term. 76 00:04:14,960 --> 00:04:18,880 Speaker 4: I'm saying in terms of they did a job right, 77 00:04:18,880 --> 00:04:22,839 Speaker 4: they worked through this shutdown and did not get paid 78 00:04:22,839 --> 00:04:23,080 Speaker 4: for them. 79 00:04:23,120 --> 00:04:25,680 Speaker 3: The government shutdowns is a lesson in the government shutdown, 80 00:04:25,720 --> 00:04:30,840 Speaker 3: so because you can't rely on anything really right. So 81 00:04:30,880 --> 00:04:33,200 Speaker 3: the government shutdown was something that was just in the news. 82 00:04:33,440 --> 00:04:36,000 Speaker 3: But people lose their jobs every day for a variety 83 00:04:36,000 --> 00:04:39,520 Speaker 3: of different reasons, and so that that could be their 84 00:04:39,560 --> 00:04:42,200 Speaker 3: government shutdown. This was just something that affected a lot 85 00:04:42,240 --> 00:04:47,279 Speaker 3: of people. But it speaks to a broader sense of 86 00:04:47,720 --> 00:04:50,520 Speaker 3: being prepared, right, because this is something that could happen 87 00:04:50,600 --> 00:04:53,280 Speaker 3: to anybody, whether you're a government employee or not. 88 00:04:53,640 --> 00:04:56,320 Speaker 4: Especially in one of the lessons that obviously we just 89 00:04:56,320 --> 00:04:59,240 Speaker 4: said prepare for that rainy day, but also having one 90 00:04:59,279 --> 00:04:59,920 Speaker 4: stream of cash. 91 00:05:00,080 --> 00:05:02,280 Speaker 5: Well, right, once that one stream is. 92 00:05:02,240 --> 00:05:04,320 Speaker 2: Done exactly, that's that's yeah, exactly. 93 00:05:04,360 --> 00:05:05,839 Speaker 3: So that's one of the one of the books that 94 00:05:05,839 --> 00:05:07,760 Speaker 3: one of the first finance books that I read when 95 00:05:07,800 --> 00:05:09,960 Speaker 3: I was probably like eighteen years old, was multiple streams 96 00:05:09,960 --> 00:05:12,520 Speaker 3: of income. And really what the book was talking about 97 00:05:12,600 --> 00:05:15,159 Speaker 3: was having multiple streams of income, right for just this reason. 98 00:05:15,200 --> 00:05:17,520 Speaker 3: They say the average million that has between I think 99 00:05:17,600 --> 00:05:22,680 Speaker 3: four to seven streams of income because they understand that 100 00:05:23,160 --> 00:05:25,680 Speaker 3: if one thing falls apart, they need something else to 101 00:05:25,720 --> 00:05:26,240 Speaker 3: fall back on. 102 00:05:26,560 --> 00:05:26,960 Speaker 5: Correct. 103 00:05:27,000 --> 00:05:30,320 Speaker 3: So yeah, there's a lot of different lessons that you know, 104 00:05:30,400 --> 00:05:34,320 Speaker 3: we can learn from in this unfortunate situation for government shutdown. 105 00:05:34,320 --> 00:05:37,360 Speaker 3: And another thing to point out is that unfortunately, you know, 106 00:05:37,680 --> 00:05:42,839 Speaker 3: a lot of these workers were African American, right, Yeah, 107 00:05:42,920 --> 00:05:49,400 Speaker 3: And it highlights even a broader problem in the country, 108 00:05:49,400 --> 00:05:50,320 Speaker 3: which is the wealth gap. 109 00:05:50,880 --> 00:05:51,040 Speaker 5: Right. 110 00:05:51,080 --> 00:05:52,520 Speaker 3: So we talked about the way I talked about the 111 00:05:52,520 --> 00:05:54,839 Speaker 3: wealth gap before, but I don't think a lot of 112 00:05:54,880 --> 00:05:57,560 Speaker 3: people don't fully understand how bad the wealth gap is. 113 00:05:57,600 --> 00:05:59,880 Speaker 4: So we have country like in a sense, it's like, 114 00:06:00,080 --> 00:06:03,080 Speaker 4: let's yes, people are living to paycheck to paycheck, but 115 00:06:03,400 --> 00:06:05,240 Speaker 4: let's start dealing with some of the root causes. Why 116 00:06:05,279 --> 00:06:06,679 Speaker 4: are we living paycheck to paycheck? 117 00:06:07,400 --> 00:06:07,679 Speaker 5: Right? 118 00:06:07,880 --> 00:06:11,520 Speaker 3: So, the New York Times had an article where they 119 00:06:11,560 --> 00:06:16,279 Speaker 3: had a few research study that showed the average black 120 00:06:16,520 --> 00:06:22,480 Speaker 3: families networth or seventeen hundred dollars, the average Latino family 121 00:06:22,520 --> 00:06:26,960 Speaker 3: networth was nineteen hundred dollars, and the average white families 122 00:06:27,000 --> 00:06:29,160 Speaker 3: networth was one hundred and sixteen thousand. 123 00:06:29,200 --> 00:06:31,560 Speaker 4: But even in the statement, I remember you telling me 124 00:06:31,600 --> 00:06:33,840 Speaker 4: this over the summer, and I was even I was 125 00:06:33,839 --> 00:06:34,320 Speaker 4: a bit cof you. 126 00:06:34,520 --> 00:06:35,800 Speaker 5: I was taking them back, and then when. 127 00:06:35,640 --> 00:06:39,320 Speaker 4: I thought about it, I'm like, oh, okay, wait, somebody's 128 00:06:39,400 --> 00:06:42,919 Speaker 4: net worth is more than somebody's rent or less than 129 00:06:42,960 --> 00:06:43,560 Speaker 4: somebody's rent. 130 00:06:43,560 --> 00:06:44,760 Speaker 5: It was like, uh huh. 131 00:06:44,839 --> 00:06:47,440 Speaker 4: But to understand it is to understand what networth is 132 00:06:47,480 --> 00:06:50,040 Speaker 4: and what goes into that and how that's even accumulated. 133 00:06:50,120 --> 00:06:53,240 Speaker 3: Yeah, so networth, Yeah, networth is assets minus liabilities. 134 00:06:53,400 --> 00:06:54,040 Speaker 2: That's what it is. Right. 135 00:06:54,080 --> 00:06:55,960 Speaker 3: So a lot of time we hear like celebrity networths, 136 00:06:55,960 --> 00:06:58,880 Speaker 3: And you said, like, people might see a celebrity and 137 00:06:58,920 --> 00:07:01,520 Speaker 3: that networth is ten million dollars, right, but they think 138 00:07:01,560 --> 00:07:03,200 Speaker 3: that that person has ten million dollars. 139 00:07:03,240 --> 00:07:05,720 Speaker 4: In the fact, we heard we heard Charlotte Matne say, look, 140 00:07:05,920 --> 00:07:08,600 Speaker 4: I go to a celebritynetwork dot com and it says 141 00:07:08,600 --> 00:07:11,040 Speaker 4: I'm working. He said, I'm worth twenty one million. I 142 00:07:11,080 --> 00:07:14,000 Speaker 4: do not have twenty million dollars exactly. 143 00:07:14,040 --> 00:07:17,280 Speaker 3: So networth is your assets minus your liabilities. Your assets 144 00:07:17,360 --> 00:07:21,440 Speaker 3: is something like your home, if you have investments, retirement, 145 00:07:21,480 --> 00:07:23,680 Speaker 3: that's an asset, right. Your liability is something that you're 146 00:07:23,680 --> 00:07:25,840 Speaker 3: spending money on, so your debt, so if you have 147 00:07:25,920 --> 00:07:28,920 Speaker 3: credit card debt, your mortgage, all that stuff. So a 148 00:07:28,960 --> 00:07:32,000 Speaker 3: lot of times people have negative networks, right because if 149 00:07:32,040 --> 00:07:34,360 Speaker 3: you have if you have one thousand dollars in savers 150 00:07:34,360 --> 00:07:36,480 Speaker 3: and you got five thousand dollars in credit card debt, 151 00:07:36,520 --> 00:07:40,119 Speaker 3: now you have a negative networth for four thousand dollars, right, right, 152 00:07:40,480 --> 00:07:42,920 Speaker 3: So that's what it comes down to. That's what that's 153 00:07:42,920 --> 00:07:45,960 Speaker 3: how they measure networths in America. The reason why there 154 00:07:46,000 --> 00:07:47,960 Speaker 3: is a lot of different reasons why the wealth gapage. 155 00:07:48,000 --> 00:07:51,200 Speaker 4: So that number again one hundred and sixteen thousand to 156 00:07:51,240 --> 00:07:55,280 Speaker 4: sixteen hundred, you said seventeen hundred, seventeen hundred, So that 157 00:07:55,480 --> 00:07:56,440 Speaker 4: huge disparity. 158 00:07:56,640 --> 00:07:59,080 Speaker 3: Well, the interesting the interesting thing about that is that 159 00:07:59,560 --> 00:08:04,520 Speaker 3: the wealth gap now in America is actually larger than 160 00:08:04,560 --> 00:08:08,520 Speaker 3: it was in nineteen ninety in South Africa. So for 161 00:08:08,560 --> 00:08:11,360 Speaker 3: people that don't fully understand the history behind that, South 162 00:08:11,360 --> 00:08:14,760 Speaker 3: Africa used to have a political system called apartheid, right, 163 00:08:14,960 --> 00:08:22,560 Speaker 3: and apartheid was legal discrimination based on race, whereas if 164 00:08:22,600 --> 00:08:25,640 Speaker 3: you were black, you wasn't allowed to own a home, 165 00:08:26,360 --> 00:08:29,120 Speaker 3: you wasn't allowed to start a business, you wasn't allowed 166 00:08:29,120 --> 00:08:31,600 Speaker 3: to have a farm. So they was legally it was 167 00:08:31,640 --> 00:08:33,640 Speaker 3: illegal discrimination. 168 00:08:34,559 --> 00:08:36,760 Speaker 5: That it was legal, and we've seen similar things like 169 00:08:36,800 --> 00:08:37,520 Speaker 5: that here, but. 170 00:08:37,960 --> 00:08:40,840 Speaker 3: Yeah, but that was legal. Like a lot of things 171 00:08:40,880 --> 00:08:46,400 Speaker 3: that were done here were under the veil of laws 172 00:08:46,440 --> 00:08:49,360 Speaker 3: put in place but to make it harder and they 173 00:08:49,440 --> 00:08:53,160 Speaker 3: kind of masket. But South Africa that they had no apology, 174 00:08:53,240 --> 00:08:56,360 Speaker 3: like this is what we're going with. So the wealth 175 00:08:56,360 --> 00:09:00,520 Speaker 3: gap is worse now than it was in nineteen ninety 176 00:09:00,559 --> 00:09:03,760 Speaker 3: in South Africa. That says a lot, right, So I 177 00:09:03,800 --> 00:09:07,840 Speaker 3: don't think people fully understand the ramifications of that. But 178 00:09:08,160 --> 00:09:10,720 Speaker 3: one of the real world effects is what we see 179 00:09:10,760 --> 00:09:13,600 Speaker 3: the government workers. Right, So these a lot of times 180 00:09:13,600 --> 00:09:16,680 Speaker 3: we have negative network so we have very small networks. 181 00:09:16,679 --> 00:09:19,440 Speaker 3: So when we're putting these situations where we lose our job, 182 00:09:20,600 --> 00:09:23,480 Speaker 3: it's a crisis. One week can make it a crisis 183 00:09:23,679 --> 00:09:26,840 Speaker 3: one month, you can mipe be on the street. That's real, 184 00:09:27,160 --> 00:09:28,719 Speaker 3: you know what. So this is something that we talk 185 00:09:28,720 --> 00:09:32,880 Speaker 3: about saving, investing, pay yourself first. It's not just something 186 00:09:32,920 --> 00:09:36,040 Speaker 3: that we just talk about. This is something that it 187 00:09:36,200 --> 00:09:38,920 Speaker 3: really matters in real world scenario and a couple of 188 00:09:38,920 --> 00:09:40,800 Speaker 3: different factors how people Because people a lot of times 189 00:09:40,840 --> 00:09:43,080 Speaker 3: they say like, well, what makes up a person's network, 190 00:09:43,280 --> 00:09:44,680 Speaker 3: or like how do you determine the net worth? 191 00:09:44,840 --> 00:09:47,640 Speaker 5: Well, the number one way is home equity. 192 00:09:47,760 --> 00:09:50,000 Speaker 3: Well, so there's a few different ways, but there's three 193 00:09:50,040 --> 00:09:53,120 Speaker 3: ways for the average America. There's three ways that a 194 00:09:53,200 --> 00:09:56,000 Speaker 3: person will measure them network or what makes up a 195 00:09:56,000 --> 00:10:00,400 Speaker 3: person's network, and that's home value, right, And that's also 196 00:10:00,520 --> 00:10:04,520 Speaker 3: retirement accounts because that's so most people their investments that 197 00:10:04,520 --> 00:10:06,560 Speaker 3: they have is in a retirement account like a four 198 00:10:06,600 --> 00:10:09,720 Speaker 3: to one kit at a job. And then it's inheritance 199 00:10:09,760 --> 00:10:14,960 Speaker 3: that they might get from passing a relative or parent 200 00:10:15,200 --> 00:10:18,520 Speaker 3: whoever leaves them inheritance. So the problem in our community, 201 00:10:18,559 --> 00:10:21,640 Speaker 3: African American community, black community, whatever you want to call it, 202 00:10:21,679 --> 00:10:24,400 Speaker 3: is that we lack in all three right, A lot 203 00:10:24,400 --> 00:10:26,640 Speaker 3: of times we don't own the place that we live in. 204 00:10:26,720 --> 00:10:29,080 Speaker 2: So we're renting, so we can never have that as 205 00:10:29,080 --> 00:10:30,600 Speaker 2: a value. 206 00:10:30,679 --> 00:10:34,600 Speaker 3: We don't fully fund or don't fully understand our retirement, 207 00:10:34,640 --> 00:10:36,720 Speaker 3: so we don't put enough money into that, so later 208 00:10:36,800 --> 00:10:40,120 Speaker 3: on down your line, you don't have a nest egg 209 00:10:40,240 --> 00:10:44,920 Speaker 3: saved to your retirement. And the biggest way, the most 210 00:10:44,920 --> 00:10:47,120 Speaker 3: effective way to leave an inheritance is life insurance. A 211 00:10:47,160 --> 00:10:50,160 Speaker 3: lot of times we don't have insurance, right, so not 212 00:10:50,200 --> 00:10:52,559 Speaker 3: only when we die, are we not leaving somebody monny, 213 00:10:52,600 --> 00:10:54,679 Speaker 3: but we're leaving them debt they actually have to pay, 214 00:10:54,720 --> 00:10:57,400 Speaker 3: so it's actually hurting them when we die. And you 215 00:10:57,440 --> 00:11:01,360 Speaker 3: got to go to your religious organization and asks people 216 00:11:01,360 --> 00:11:05,520 Speaker 3: to donate and do different things. So that's three ways 217 00:11:05,600 --> 00:11:10,679 Speaker 3: right there that we fall behind and that that affects us. 218 00:11:10,760 --> 00:11:13,520 Speaker 3: As far as talking about the network, so all of 219 00:11:13,559 --> 00:11:16,360 Speaker 3: it ties in. All of this stuff ties in. We 220 00:11:16,360 --> 00:11:17,480 Speaker 3: talk about a lot of that. We're going to talk 221 00:11:17,480 --> 00:11:20,280 Speaker 3: about a different suff on this podcast as the weeks 222 00:11:20,280 --> 00:11:23,360 Speaker 3: goes on, and even as this episode goes on, but 223 00:11:24,040 --> 00:11:27,520 Speaker 3: it's important to talk about real world situations and real 224 00:11:27,559 --> 00:11:30,480 Speaker 3: world problems that affect the average person, not just a 225 00:11:30,520 --> 00:11:33,160 Speaker 3: celebrity or not just you know, a CEO of a company. 226 00:11:33,160 --> 00:11:37,720 Speaker 3: But the average working people, because that's the majority of 227 00:11:37,760 --> 00:11:40,760 Speaker 3: the people, right. So these are real world problems that 228 00:11:40,880 --> 00:11:43,680 Speaker 3: are affecting us, affecting our community, and affecting the world. 229 00:11:43,720 --> 00:11:45,840 Speaker 3: Not just our communities, it's affecting the whole nation. So 230 00:11:45,880 --> 00:11:50,120 Speaker 3: the wealth gap is something that should concern everybody, whether 231 00:11:50,160 --> 00:11:52,000 Speaker 3: you're a black cousin. I want to get this clear too, 232 00:11:52,040 --> 00:11:55,840 Speaker 3: because the message of financial literacy is for the whole world, 233 00:11:55,960 --> 00:11:58,120 Speaker 3: is for mankind, right. It's not limited to one race 234 00:11:58,160 --> 00:12:01,600 Speaker 3: of people, but the struggles of any race of people 235 00:12:01,720 --> 00:12:06,640 Speaker 3: should affect every race of people, right, So the struggles 236 00:12:06,640 --> 00:12:10,200 Speaker 3: of black people in America is bigger than just black 237 00:12:10,240 --> 00:12:14,120 Speaker 3: people's problem. It spills over into every other community, so 238 00:12:14,120 --> 00:12:20,240 Speaker 3: it's everybody's. Everybody should be alarmed by this statistic, and 239 00:12:20,480 --> 00:12:25,559 Speaker 3: everybody needs to play a part and improving the conditions. 240 00:12:25,559 --> 00:12:27,920 Speaker 3: And a lot of it starts with education, that's true. 241 00:12:27,960 --> 00:12:29,760 Speaker 3: A lot of it starts with education. So even like 242 00:12:29,800 --> 00:12:32,000 Speaker 3: teaching with the kids with the school and learning about 243 00:12:32,000 --> 00:12:33,920 Speaker 3: finances and learning about what the four to one k 244 00:12:34,080 --> 00:12:35,960 Speaker 3: is and learning, a lot of this stuff starts with education. 245 00:12:36,040 --> 00:12:38,880 Speaker 3: So that's why we're here as well. The properly as. 246 00:12:38,960 --> 00:12:40,800 Speaker 4: I remember one of the most important lessons you did 247 00:12:41,040 --> 00:12:45,080 Speaker 4: with our summer program was you talked about the federal 248 00:12:45,120 --> 00:12:48,079 Speaker 4: spending and you saw how much we spent on defense 249 00:12:48,320 --> 00:12:50,480 Speaker 4: and how much we spend on education. And I think 250 00:12:50,520 --> 00:12:52,840 Speaker 4: you pose a question, what would it look like if 251 00:12:52,840 --> 00:12:54,800 Speaker 4: the roles were reversed, right, what if we spent more 252 00:12:54,800 --> 00:12:55,320 Speaker 4: on education. 253 00:12:55,800 --> 00:12:58,680 Speaker 3: Well, we spend like thirty percent of the budget something. 254 00:12:59,360 --> 00:13:02,440 Speaker 3: Don't quote me this around that like thirty percent of 255 00:13:03,000 --> 00:13:06,680 Speaker 3: the budget the national budget goes to defense, the military, 256 00:13:06,880 --> 00:13:09,920 Speaker 3: were like four percent goes to education. 257 00:13:09,760 --> 00:13:10,440 Speaker 5: Is even less. 258 00:13:10,800 --> 00:13:15,120 Speaker 3: So it's like, okay, what you know. That's a that's 259 00:13:15,240 --> 00:13:21,080 Speaker 3: that's telling right there. We spend thirty on protecting I 260 00:13:21,120 --> 00:13:23,720 Speaker 3: guess you want to call it protecting our borders and 261 00:13:24,080 --> 00:13:27,000 Speaker 3: fighting wars overseas and the military and the Navy. You 262 00:13:27,000 --> 00:13:32,120 Speaker 3: know it's important, but we spend four percent on education. 263 00:13:33,280 --> 00:13:36,719 Speaker 4: Yeah, telling, right, And so like when our students saw that, 264 00:13:37,080 --> 00:13:39,840 Speaker 4: they were like dumbfounded by it. But I said, and 265 00:13:39,880 --> 00:13:41,400 Speaker 4: I think this is one of the messages we conveyed 266 00:13:41,440 --> 00:13:43,880 Speaker 4: to them. It's like, look, if you want to see 267 00:13:43,920 --> 00:13:45,920 Speaker 4: these things change, then you got to fight for these things. 268 00:13:45,920 --> 00:13:47,720 Speaker 4: We're going to fight for them. But you're the next generation. 269 00:13:47,760 --> 00:13:50,640 Speaker 4: You gotta fight for them as well. So that's important, man. 270 00:13:50,720 --> 00:13:54,360 Speaker 3: Yeah, all right, so yeah, so that right, okay, so yeah, 271 00:13:54,400 --> 00:13:56,120 Speaker 3: that's the government shutdown. 272 00:13:56,600 --> 00:13:56,880 Speaker 5: Yeah. 273 00:13:56,920 --> 00:14:00,800 Speaker 4: So it's very interesting that the shutdown has has ended 274 00:14:01,280 --> 00:14:04,520 Speaker 4: at this time of the year because you know, it 275 00:14:04,679 --> 00:14:05,240 Speaker 4: is a. 276 00:14:05,200 --> 00:14:06,160 Speaker 5: Busy travel time. 277 00:14:06,840 --> 00:14:10,920 Speaker 4: The busiest airport in the country, Hartfield Jackson in Atlanta 278 00:14:11,600 --> 00:14:15,319 Speaker 4: saw workers calling out at an all time rate. Right, 279 00:14:15,320 --> 00:14:17,440 Speaker 4: these these people were furloughed, they were working without pay. 280 00:14:18,280 --> 00:14:22,160 Speaker 4: I think ten percent of the TSA called out, which, 281 00:14:22,480 --> 00:14:24,840 Speaker 4: in turn, right, you're fighting for national security or you 282 00:14:24,840 --> 00:14:27,640 Speaker 4: don't want to open the government until you have money 283 00:14:27,680 --> 00:14:30,640 Speaker 4: for a wall, but the people who work at your 284 00:14:30,640 --> 00:14:33,520 Speaker 4: airports are calling out, which is a national security emergency 285 00:14:33,560 --> 00:14:34,080 Speaker 4: in itself. 286 00:14:35,360 --> 00:14:39,160 Speaker 5: So I can imagine what the mayor of Atlanta. 287 00:14:39,080 --> 00:14:42,720 Speaker 4: Who who is the mayor of the obviously the city 288 00:14:43,160 --> 00:14:45,640 Speaker 4: with the largest airport, what she's thinking at a time 289 00:14:45,680 --> 00:14:47,600 Speaker 4: like this when she has a huge event that's about 290 00:14:47,600 --> 00:14:51,320 Speaker 4: to happen in her city in the next week or so. 291 00:14:51,320 --> 00:14:56,240 Speaker 4: So with that, you know, so we're going to super Bowl, 292 00:14:56,240 --> 00:14:59,200 Speaker 4: we don't we don't talk about the super Bowl. 293 00:14:58,600 --> 00:15:01,440 Speaker 3: Before we start talking some super Bowl. Let's just get 294 00:15:01,440 --> 00:15:03,320 Speaker 3: this clear. We're not taking a stance on super Bowl 295 00:15:03,360 --> 00:15:05,640 Speaker 3: either way. If you choose to watch the super Bowl, 296 00:15:05,800 --> 00:15:07,600 Speaker 3: not no problem with that. If you choose not to 297 00:15:07,640 --> 00:15:09,240 Speaker 3: watch the super Bowl, have no problem with that. We're 298 00:15:09,280 --> 00:15:12,400 Speaker 3: not endorsing the super Bowl or we're not even bashing. 299 00:15:12,160 --> 00:15:14,080 Speaker 2: The super Bowl. Everybody has a right to do what 300 00:15:14,120 --> 00:15:16,920 Speaker 2: they want and to make their own decisions. I know 301 00:15:17,000 --> 00:15:18,800 Speaker 2: that's you know, that's a hot topic right now with 302 00:15:19,120 --> 00:15:21,600 Speaker 2: Colin Kaepernick. Can you know, of course we support. 303 00:15:21,280 --> 00:15:25,880 Speaker 3: Him, But like all things in life, we can learn 304 00:15:26,000 --> 00:15:29,360 Speaker 3: from the business side of what's going on in the 305 00:15:29,400 --> 00:15:33,560 Speaker 3: super Bowl. And one of the biggest aspects of the super. 306 00:15:33,320 --> 00:15:35,720 Speaker 5: Bowl outside of the game, outside. 307 00:15:35,320 --> 00:15:37,040 Speaker 2: Of the game is super Bowl ads. 308 00:15:37,120 --> 00:15:40,680 Speaker 3: Yes, right, So yeah, let's talk about that because marketing 309 00:15:40,760 --> 00:15:44,160 Speaker 3: is something that I always had a passion for and 310 00:15:44,200 --> 00:15:47,800 Speaker 3: I think that business, any business that you're in, marketing 311 00:15:47,880 --> 00:15:50,360 Speaker 3: is important plays a part no matter what you're doing, 312 00:15:50,400 --> 00:15:52,040 Speaker 3: you have to find a way to market yourself and 313 00:15:52,040 --> 00:15:54,200 Speaker 3: there's a lot of different ways that you can market yourself. 314 00:15:54,600 --> 00:15:59,040 Speaker 3: But studying the Super Bowl marketing is an interesting case study. 315 00:15:59,120 --> 00:16:01,479 Speaker 4: Yeah, when we looked at it, it was pretty astonishing. 316 00:16:02,000 --> 00:16:03,920 Speaker 4: We saw a few things and we're going to get 317 00:16:03,920 --> 00:16:07,280 Speaker 4: into that of how marketing is changing and how it 318 00:16:07,400 --> 00:16:10,800 Speaker 4: looks on a large scale. So the Super Bowl obviously 319 00:16:11,080 --> 00:16:15,120 Speaker 4: is the most watched single sporting event in the United States. 320 00:16:15,960 --> 00:16:18,840 Speaker 4: Last year it average one hundred and thirteen million viewers, 321 00:16:19,360 --> 00:16:22,320 Speaker 4: I think, which was actually a dcline from twenty sixteen 322 00:16:22,320 --> 00:16:23,920 Speaker 4: when they had one hundred and fourteen million, which was 323 00:16:24,440 --> 00:16:26,560 Speaker 4: an all time record. I think the Patriots versus Seahawks 324 00:16:26,600 --> 00:16:29,040 Speaker 4: was the game, but one hundred and thirteen million viewers. 325 00:16:29,040 --> 00:16:32,920 Speaker 4: So obviously, marketing teams and firms know that this is 326 00:16:32,960 --> 00:16:35,120 Speaker 4: the time where we can get the largest amount of 327 00:16:35,120 --> 00:16:38,760 Speaker 4: people concentrated on one thing. It's a live event, which 328 00:16:38,800 --> 00:16:40,360 Speaker 4: means you can't fast forward through it. 329 00:16:40,360 --> 00:16:41,920 Speaker 5: So you have to sit through the commercials. 330 00:16:42,360 --> 00:16:46,240 Speaker 4: So what has happened over time is people have spent 331 00:16:46,400 --> 00:16:49,840 Speaker 4: large amounts of money to get their ads on during 332 00:16:49,880 --> 00:16:53,440 Speaker 4: the commercial breaks of the Super Bowl. In two thousand, 333 00:16:53,640 --> 00:16:56,840 Speaker 4: the average costs for Super Bowl commercial was two million dollars. 334 00:16:57,200 --> 00:16:59,920 Speaker 5: Right last year, the commercials were going for five point five. 335 00:17:00,000 --> 00:17:03,800 Speaker 2: Million sixty seconds thirty thirty for a thirty second clip. 336 00:17:03,600 --> 00:17:06,359 Speaker 3: So five all right, So five point five million for 337 00:17:06,440 --> 00:17:11,480 Speaker 3: a thirty second. 338 00:17:10,000 --> 00:17:12,840 Speaker 4: And not that that doesn't include the cost of making 339 00:17:12,840 --> 00:17:16,120 Speaker 4: the ad. So sometimes you have these over the top 340 00:17:16,160 --> 00:17:21,240 Speaker 4: commercials with movie stars and all types of explosives and stunts. 341 00:17:22,119 --> 00:17:24,200 Speaker 5: On top of paying those people, you got to pay 342 00:17:24,400 --> 00:17:26,120 Speaker 5: just to put it on TV networks. 343 00:17:26,600 --> 00:17:28,120 Speaker 2: Okay, so is it worth it? 344 00:17:29,000 --> 00:17:30,800 Speaker 4: Let's see so we can we can talk about a 345 00:17:30,800 --> 00:17:34,600 Speaker 4: few companies that have done this model, and yeah, it 346 00:17:34,640 --> 00:17:38,080 Speaker 4: has worked for some of them. I obviously Budweiser's has 347 00:17:38,119 --> 00:17:40,720 Speaker 4: been doing this for multiple of years. 348 00:17:40,720 --> 00:17:42,320 Speaker 5: They're probably the king of the two book commercials. 349 00:17:42,359 --> 00:17:45,080 Speaker 4: I think this year they bought eight slots sor right, 350 00:17:45,119 --> 00:17:47,280 Speaker 4: So if they bought eight slots and five five million 351 00:17:47,280 --> 00:17:49,960 Speaker 4: you talking about forty million dollars just on commercials. The 352 00:17:50,040 --> 00:17:54,000 Speaker 4: reeols will be doing their same thing. So those companies 353 00:17:54,280 --> 00:17:56,520 Speaker 4: obviously household names, we know them. 354 00:17:56,760 --> 00:17:58,520 Speaker 5: Then you have companies like. 355 00:17:58,520 --> 00:18:01,160 Speaker 2: Go Daddy, game changer. 356 00:18:01,640 --> 00:18:03,640 Speaker 5: You want to talk about Daddy a little bit game changer. 357 00:18:03,760 --> 00:18:05,119 Speaker 2: So yeah, so Go Daddy. 358 00:18:06,440 --> 00:18:10,840 Speaker 3: Go Daddy probably has the one of the best marketing 359 00:18:10,960 --> 00:18:12,520 Speaker 3: campaign for Super Bowl history. 360 00:18:12,640 --> 00:18:15,880 Speaker 5: Right when they've been hit a miss, they started with they. 361 00:18:15,840 --> 00:18:19,880 Speaker 3: Hit Okay, So go Daddy's interesting for a few different levels, right, 362 00:18:19,880 --> 00:18:25,400 Speaker 3: because before Super Bowl, at least I didn't know what. 363 00:18:25,320 --> 00:18:26,440 Speaker 2: Go Daddy was right. 364 00:18:26,520 --> 00:18:28,680 Speaker 3: I think they started their first Super Bowl add in 365 00:18:28,680 --> 00:18:34,200 Speaker 3: two thousand and three overnight. Everybody knew who they were, 366 00:18:34,480 --> 00:18:36,639 Speaker 3: so anybody that's not familiar with Go Daddy there. They 367 00:18:36,680 --> 00:18:40,359 Speaker 3: host websites, so they had an add in two thousand 368 00:18:40,359 --> 00:18:46,880 Speaker 3: and five that was banned. At least half of it 369 00:18:46,920 --> 00:18:49,000 Speaker 3: was banned. Pretty much it was. 370 00:18:50,600 --> 00:18:52,800 Speaker 4: This episode is brought to you by P ANDC Bank. 371 00:18:53,200 --> 00:18:55,960 Speaker 4: A lot of people think podcasts about work are boring, 372 00:18:56,200 --> 00:18:59,960 Speaker 4: and sure they definitely can be, but understanding of professional 373 00:19:00,119 --> 00:19:03,359 Speaker 4: routine shows us how they achieve their success little by little, 374 00:19:03,760 --> 00:19:07,400 Speaker 4: day after day. It's like banking with P and C Bank. 375 00:19:07,880 --> 00:19:10,680 Speaker 4: It might seem boring to save, plan and make calculated 376 00:19:10,680 --> 00:19:13,800 Speaker 4: decisions with your bank, but keeping your money boring is 377 00:19:13,800 --> 00:19:17,159 Speaker 4: what helps you live or more happily fulfilled life. P 378 00:19:17,240 --> 00:19:22,080 Speaker 4: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly 379 00:19:22,160 --> 00:19:24,760 Speaker 4: Boring since eighteen sixty five is a service mark of 380 00:19:24,800 --> 00:19:28,040 Speaker 4: the PNC Financial Service Group, Inc. P and C Bank 381 00:19:28,480 --> 00:19:34,080 Speaker 4: National Association member FDIC Erners. 382 00:19:34,080 --> 00:19:34,439 Speaker 5: What's up? 383 00:19:34,520 --> 00:19:37,000 Speaker 4: You ever walk into a small business and everything just 384 00:19:37,160 --> 00:19:40,360 Speaker 4: works like the checkout is fast, the receipts are digital 385 00:19:40,880 --> 00:19:43,840 Speaker 4: tipping is a breeze and you're out the door before 386 00:19:43,880 --> 00:19:48,000 Speaker 4: the line even builds. Odds are they're using Square. We 387 00:19:48,160 --> 00:19:50,720 Speaker 4: love supporting businesses that run on Square because it just 388 00:19:50,760 --> 00:19:54,000 Speaker 4: feels seamless. 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To see how Square can transform your business, 398 00:20:23,920 --> 00:20:28,560 Speaker 4: visit Square dot com backslash, go backslash eyl to learn 399 00:20:28,600 --> 00:20:33,800 Speaker 4: more that Square dot com backslash, go backslash eyl. Don't wait, 400 00:20:34,119 --> 00:20:36,919 Speaker 4: don't hesitate. Let's Square handle the back end so you 401 00:20:36,960 --> 00:20:38,600 Speaker 4: can keep pushing your vision forward. 402 00:20:40,840 --> 00:20:44,440 Speaker 6: An illegal alien from Guatemala charged with raping a child 403 00:20:44,520 --> 00:20:48,320 Speaker 6: in Massachusetts. An MS thirteen gang member from El Salvador 404 00:20:48,560 --> 00:20:52,720 Speaker 6: accused of murdering a Texas man of Venezuelan charged with 405 00:20:52,760 --> 00:20:56,679 Speaker 6: filming and selling child pornography in Michigan. These are just 406 00:20:56,760 --> 00:21:01,000 Speaker 6: some of the heinous migrant criminals caught because President Donald J. 407 00:21:01,080 --> 00:21:04,879 Speaker 6: Trump's leadership. I'm Christy Noman, the United States Secretary of 408 00:21:04,920 --> 00:21:09,720 Speaker 6: Homeland Security. Under President Trump, attempted illegal border crossings are 409 00:21:09,760 --> 00:21:13,159 Speaker 6: at the lowest levels ever recorded, and over one hundred 410 00:21:13,160 --> 00:21:17,040 Speaker 6: thousand illegal aliens have been arrested. If you were here illegally, 411 00:21:17,560 --> 00:21:20,840 Speaker 6: your next you will be fine nearly one thousand dollars 412 00:21:20,880 --> 00:21:25,040 Speaker 6: a day, imprisoned and deported, you will never return. But 413 00:21:25,119 --> 00:21:28,639 Speaker 6: if you register using our CBP home app and leave now, 414 00:21:29,040 --> 00:21:32,120 Speaker 6: you could be allowed to return legally. Do what's right. 415 00:21:32,680 --> 00:21:37,639 Speaker 6: Leave now. Under President Trump, America's laws, border and families 416 00:21:37,840 --> 00:21:38,680 Speaker 6: will be protected. 417 00:21:38,760 --> 00:21:40,920 Speaker 5: Sponsored by the United States Department of Homeland Security. 418 00:21:42,000 --> 00:21:45,040 Speaker 3: Almost a half naked yeah woman. It was like a 419 00:21:45,080 --> 00:21:47,920 Speaker 3: half naked woman in front of Congress and a shirt 420 00:21:48,000 --> 00:21:50,480 Speaker 3: kept falling off. It was crazy. I actually watched to 421 00:21:50,520 --> 00:21:53,520 Speaker 3: add on YouTube. And but the interesting thing about it 422 00:21:53,560 --> 00:21:56,520 Speaker 3: is that they had to know that that was never. 423 00:21:56,400 --> 00:21:57,200 Speaker 2: Going to get approved. 424 00:21:57,680 --> 00:21:59,160 Speaker 5: Right, it was worth the rest. 425 00:21:59,080 --> 00:22:00,320 Speaker 2: No, it's worth the risk. 426 00:22:00,359 --> 00:22:02,920 Speaker 3: But it's even more so it's like they say, any 427 00:22:02,920 --> 00:22:06,040 Speaker 3: publicity is good publicity. Right, So now you have a 428 00:22:06,119 --> 00:22:08,639 Speaker 3: company who because when your ad is banned, it's like 429 00:22:08,760 --> 00:22:11,800 Speaker 3: it's still on so on the internet, it's still on YouTube, 430 00:22:12,240 --> 00:22:16,240 Speaker 3: and it's media saying that the ad got banned, so 431 00:22:16,280 --> 00:22:18,320 Speaker 3: that everybody wants to see what got banned. What it 432 00:22:18,359 --> 00:22:23,480 Speaker 3: is like, It's like a movie that is banned from 433 00:22:23,600 --> 00:22:27,160 Speaker 3: TV or banned from the movie theater. Everybody's gonna want 434 00:22:27,160 --> 00:22:29,160 Speaker 3: to go see what that movie is about, because why 435 00:22:29,160 --> 00:22:33,440 Speaker 3: has it been so go daddy, And so I say 436 00:22:33,440 --> 00:22:36,120 Speaker 3: this to say it had nothing to do with actually 437 00:22:37,080 --> 00:22:42,760 Speaker 3: website hosting, right, but it worked, right, they became a 438 00:22:42,760 --> 00:22:45,760 Speaker 3: household name overnight, and then they followed up you want 439 00:22:45,760 --> 00:22:47,160 Speaker 3: to talk about the bar RAFAELI. 440 00:22:47,520 --> 00:22:50,800 Speaker 4: Yeah, So they do the two thousand and five campaign 441 00:22:50,960 --> 00:22:52,000 Speaker 4: with the congressional hearing. 442 00:22:52,520 --> 00:22:53,720 Speaker 5: Then they make an important move. 443 00:22:53,760 --> 00:22:56,240 Speaker 4: They get a sponsor, right, so they get somebody that 444 00:22:56,359 --> 00:22:58,280 Speaker 4: is going to endorse their company. 445 00:22:58,320 --> 00:23:00,880 Speaker 5: They take Danik K Patrick, whoge at the time. 446 00:23:00,800 --> 00:23:04,879 Speaker 3: Dannik Patrick. For anybody that doesn't know, a legendary NASCAR 447 00:23:05,800 --> 00:23:11,600 Speaker 3: driver who is a woman, and that's very rare in NASCAR. 448 00:23:12,160 --> 00:23:14,840 Speaker 3: So she I don't know if she's if she's still 449 00:23:14,880 --> 00:23:16,280 Speaker 3: involved with NASCAR but I. 450 00:23:16,200 --> 00:23:16,919 Speaker 5: Think she retired. 451 00:23:17,560 --> 00:23:26,400 Speaker 4: She's now the fiancee to Aaron Rodgers, is she yeah, yeah, okay, yeah, 452 00:23:26,440 --> 00:23:31,760 Speaker 4: so she becomes the face of GoDaddy. So they still 453 00:23:31,840 --> 00:23:35,080 Speaker 4: run the Super Bowl campaigns. But then, like you said, 454 00:23:35,119 --> 00:23:40,000 Speaker 4: in twenty thirteen, they have the Perfect Match campaign where 455 00:23:40,000 --> 00:23:42,920 Speaker 4: they have the super mal bariality kiss this kid who's 456 00:23:42,920 --> 00:23:45,359 Speaker 4: supposed to be a nerd and again has nothing to 457 00:23:45,400 --> 00:23:49,119 Speaker 4: do with the website hosting, is just the imagery that sells, 458 00:23:49,119 --> 00:23:52,080 Speaker 4: and it's like this becomes the most popular commercial. So 459 00:23:52,160 --> 00:23:54,560 Speaker 4: from that, the next day after the super Bowl, they 460 00:23:54,640 --> 00:24:00,760 Speaker 4: watched their website gain increase on certain which is they 461 00:24:00,760 --> 00:24:05,679 Speaker 4: get ten thousand new customers, thirty five percent increase of 462 00:24:05,720 --> 00:24:07,680 Speaker 4: the mobile use of mobile use. 463 00:24:07,760 --> 00:24:09,640 Speaker 2: They had their best day of their best day ever 464 00:24:09,840 --> 00:24:11,800 Speaker 2: after that, and it wasn't. 465 00:24:11,600 --> 00:24:14,080 Speaker 3: Just a kiss. It was like it was like thirty 466 00:24:14,119 --> 00:24:17,280 Speaker 3: to the whole commercial with them kissing. It was very 467 00:24:17,440 --> 00:24:21,600 Speaker 3: awkward situation to watch. Barbrafieli is a is a Victoria 468 00:24:21,880 --> 00:24:26,119 Speaker 3: Secret model, right, and it was this guy. He was like, 469 00:24:26,200 --> 00:24:28,399 Speaker 3: he's like an actor, but he always plays like the nerd, 470 00:24:28,480 --> 00:24:31,879 Speaker 3: the geek type dude. So they just randomly start making 471 00:24:31,920 --> 00:24:34,280 Speaker 3: out for thirty seconds and that's the ad. 472 00:24:34,560 --> 00:24:35,199 Speaker 5: That's it. 473 00:24:35,400 --> 00:24:39,679 Speaker 3: Literally within hours, Go Daddy's website. Spike's crazy. And like 474 00:24:39,720 --> 00:24:41,480 Speaker 3: you said, the next day they hosting one up forty 475 00:24:41,480 --> 00:24:44,280 Speaker 3: five percent, Domain one up forty percent, New mobile thirty 476 00:24:44,280 --> 00:24:46,479 Speaker 3: five percent. They added ten thousand customers. They literally had 477 00:24:46,520 --> 00:24:50,959 Speaker 3: their best day ever after that ad, which had nothing 478 00:24:51,000 --> 00:24:51,880 Speaker 3: to do with anything. 479 00:24:52,119 --> 00:24:53,240 Speaker 2: It really had nothing to do with anything. 480 00:24:53,560 --> 00:24:54,720 Speaker 5: It was just a kissing ad. 481 00:24:55,680 --> 00:24:58,480 Speaker 2: They had a supermodel kissing a nerd. 482 00:25:00,119 --> 00:25:01,119 Speaker 5: Yeah, brilliant. 483 00:25:01,200 --> 00:25:03,959 Speaker 4: Yeah, So like that works, and then they run some 484 00:25:03,960 --> 00:25:06,639 Speaker 4: more ads and then up until twenty sixteen, they realized like, 485 00:25:06,680 --> 00:25:07,880 Speaker 4: all right, they. 486 00:25:07,760 --> 00:25:11,080 Speaker 5: Don't need it, we don't need it anymore. We're gonna stop. 487 00:25:11,119 --> 00:25:14,120 Speaker 3: They made they made their money already, they made their 488 00:25:14,160 --> 00:25:16,480 Speaker 3: notoriety and they left. 489 00:25:16,560 --> 00:25:18,880 Speaker 5: Yeah, so then from that it's a success. 490 00:25:18,920 --> 00:25:21,040 Speaker 4: But then you got companies like Wix, which is another 491 00:25:21,880 --> 00:25:25,040 Speaker 4: hosting like a website similar to gold Daddy, that decides 492 00:25:25,119 --> 00:25:27,480 Speaker 4: to put this over the top campaign. 493 00:25:27,560 --> 00:25:30,760 Speaker 5: They hire Gal Gadol. 494 00:25:30,920 --> 00:25:34,320 Speaker 4: She is a superwoman, a wonder woman. I said superwoman. 495 00:25:34,320 --> 00:25:36,440 Speaker 4: She's a wonder woman. So that had just came out. 496 00:25:36,480 --> 00:25:38,560 Speaker 4: They get her, she's one of an A list actress 497 00:25:38,960 --> 00:25:43,640 Speaker 4: and they see no Spike in fact, their numbers don't 498 00:25:43,640 --> 00:25:45,760 Speaker 4: do anything. And what the Super Bowl ad did was 499 00:25:45,800 --> 00:25:49,200 Speaker 4: get traffic to their site, but customers didn't buy anything, right, 500 00:25:49,280 --> 00:25:52,679 Speaker 4: So that's you paid four million dollars five million dollars 501 00:25:53,560 --> 00:25:57,000 Speaker 4: and all you got was traffic. Whereas we've seen other 502 00:25:57,040 --> 00:26:01,920 Speaker 4: strategies that have been working in recent time of how to. 503 00:26:01,920 --> 00:26:05,320 Speaker 3: Make marketing well, the game the marketing game has changed absolutely, right, 504 00:26:05,359 --> 00:26:08,560 Speaker 3: Like the old fashioned way of marketing is to get 505 00:26:08,560 --> 00:26:10,920 Speaker 3: in a magazine or get on TV and have an ad, 506 00:26:11,440 --> 00:26:14,359 Speaker 3: but that's changed now social media. 507 00:26:14,480 --> 00:26:16,800 Speaker 4: Social media has changed the game. Social media is changed, 508 00:26:16,960 --> 00:26:19,399 Speaker 4: specifically the influences. 509 00:26:19,000 --> 00:26:24,119 Speaker 3: Power of influencers, power of them, power of influences. I 510 00:26:24,200 --> 00:26:26,600 Speaker 3: like to do case studies a lot. Like anybody follow 511 00:26:26,640 --> 00:26:29,240 Speaker 3: me on Instagram, I like. I like case studies because 512 00:26:29,320 --> 00:26:32,879 Speaker 3: I'm just I just think it's interesting to examine different 513 00:26:32,880 --> 00:26:36,520 Speaker 3: business models and how people work. So one of the 514 00:26:36,560 --> 00:26:41,400 Speaker 3: things that is interesting to me is a fashion over. Right, 515 00:26:41,600 --> 00:26:43,520 Speaker 3: I'm pretty sure everybody has heard of Fashion Over. But 516 00:26:43,520 --> 00:26:47,240 Speaker 3: if you haven't heard of Fashion Over, it's a clothing 517 00:26:47,480 --> 00:26:51,040 Speaker 3: clothing brand. They have actually have men's line. 518 00:26:51,080 --> 00:26:52,400 Speaker 5: Now they have a men's fashion over. 519 00:26:52,480 --> 00:26:56,360 Speaker 3: They used to just be straight women so fashion Over 520 00:26:56,440 --> 00:27:00,680 Speaker 3: is interesting as a case study for a few different reasons. 521 00:27:01,000 --> 00:27:04,240 Speaker 3: But all right, so let's do the backstory on fashion Over. 522 00:27:04,320 --> 00:27:04,439 Speaker 2: Right. 523 00:27:04,440 --> 00:27:08,920 Speaker 3: So fashion Over actually starts in two thousand and six. 524 00:27:09,480 --> 00:27:13,520 Speaker 3: Oh right, So the owner of Richard Shedding I think 525 00:27:13,560 --> 00:27:16,639 Speaker 3: his name is, he opened the store in California and 526 00:27:16,800 --> 00:27:20,280 Speaker 3: more in California two thousand and six, right, and it 527 00:27:20,359 --> 00:27:22,879 Speaker 3: was regular store and then you know it wasn't doing anything. 528 00:27:24,240 --> 00:27:28,399 Speaker 3: Within the last three years, fashion over has exploded. So 529 00:27:28,480 --> 00:27:31,479 Speaker 3: in twenty thirteen they opened. They have their website. They 530 00:27:31,480 --> 00:27:33,639 Speaker 3: started their website in twenty thirteen, and write it when 531 00:27:33,680 --> 00:27:36,399 Speaker 3: they start their website. They started with Instagram. This is 532 00:27:36,440 --> 00:27:40,320 Speaker 3: like the earlier days. Twenty eleven, I think Instagram becomes 533 00:27:40,520 --> 00:27:43,439 Speaker 3: like popping, popping, But twenty thirteen is when they got on. 534 00:27:43,760 --> 00:27:47,760 Speaker 3: They were early adapters into Instagram. Right, So here's the 535 00:27:47,800 --> 00:27:50,280 Speaker 3: brilliant here's the brilliant thing that fashion Ova did. So 536 00:27:50,880 --> 00:27:55,800 Speaker 3: they started at the top down, meaning they got a 537 00:27:55,880 --> 00:28:02,600 Speaker 3: few a lists, very big name social media influences and 538 00:28:02,640 --> 00:28:08,680 Speaker 3: they pay them. Right, So they had Kylie Jenner, Courtney 539 00:28:08,680 --> 00:28:15,840 Speaker 3: car Chloe Kardashian right, and Cardi B a couple others. 540 00:28:16,480 --> 00:28:22,120 Speaker 3: So they got a list influences, right, they paid them 541 00:28:22,280 --> 00:28:25,120 Speaker 3: and they made fashion over blow up, right, because it's 542 00:28:25,160 --> 00:28:28,040 Speaker 3: like if they're wearing it, if they're endorsing it, it 543 00:28:28,200 --> 00:28:28,720 Speaker 3: means something. 544 00:28:28,800 --> 00:28:29,040 Speaker 2: Right. 545 00:28:29,200 --> 00:28:31,200 Speaker 3: But the thing about fashion Ova that people don't realize 546 00:28:31,240 --> 00:28:33,399 Speaker 3: is that they actually have an army of influencers. So 547 00:28:33,640 --> 00:28:38,880 Speaker 3: Fashionova actually works with anywhere from three to five thousand influences, right, 548 00:28:39,480 --> 00:28:41,720 Speaker 3: but a lot of them, most of them don't get paid. 549 00:28:42,520 --> 00:28:44,240 Speaker 3: Most of them don't get paid. They get free merch 550 00:28:44,280 --> 00:28:45,080 Speaker 3: That's how they get paid. 551 00:28:45,440 --> 00:28:45,560 Speaker 5: Well. 552 00:28:45,720 --> 00:28:46,480 Speaker 2: Because if you think. 553 00:28:46,320 --> 00:28:48,760 Speaker 3: About fashion Over, if you really look at Fashionova, they 554 00:28:48,800 --> 00:28:51,760 Speaker 3: weren't with anybody like you might see somebody with ten 555 00:28:51,760 --> 00:28:54,480 Speaker 3: thousand followers, another person with one hundred thousand followers, somebody 556 00:28:54,520 --> 00:28:56,640 Speaker 3: were foxed out and they all through fashion Over like 557 00:28:56,760 --> 00:28:58,200 Speaker 3: as it looks like an ad, right, Like I'm just 558 00:28:58,280 --> 00:29:00,400 Speaker 3: having my fashion Ova jeans for what the it was 559 00:29:00,440 --> 00:29:03,960 Speaker 3: that they made it. They made it like almost a 560 00:29:04,040 --> 00:29:06,719 Speaker 3: privilege to promote their brand. Because once they had Courtney, 561 00:29:07,240 --> 00:29:12,600 Speaker 3: Chloe Kardashian and Cardi B and everybody else wearing it, 562 00:29:12,720 --> 00:29:15,840 Speaker 3: that was a list. Now everybody that's aspiring to be 563 00:29:16,000 --> 00:29:18,840 Speaker 3: there wants to put on fashional and. 564 00:29:18,880 --> 00:29:19,640 Speaker 5: To that credit. 565 00:29:19,760 --> 00:29:23,200 Speaker 4: They their thing is like, hey, we'll make the celebrity 566 00:29:23,240 --> 00:29:27,400 Speaker 4: look affordable. So they've taken that model, that model, and 567 00:29:28,480 --> 00:29:30,000 Speaker 4: they've just expanded on it. 568 00:29:30,080 --> 00:29:33,360 Speaker 5: Right, So they've gotten these influencers, they've made the clothes. 569 00:29:33,000 --> 00:29:37,000 Speaker 4: That they like and to women and men, now will 570 00:29:37,920 --> 00:29:40,520 Speaker 4: a tea will say like this, these clothes fit amazing well. 571 00:29:40,960 --> 00:29:44,520 Speaker 3: And the thing about that is that so they make 572 00:29:44,920 --> 00:29:49,040 Speaker 3: a thousand items a week, but they have an interesting 573 00:29:49,080 --> 00:29:54,440 Speaker 3: model because they don't they use nine hundred different producers 574 00:29:54,640 --> 00:29:58,280 Speaker 3: to make their clothes in La and China, So they 575 00:29:58,320 --> 00:30:01,960 Speaker 3: have nine hundred different menu factorers in La and China 576 00:30:02,040 --> 00:30:05,680 Speaker 3: making a thousand pieces a week for them. They put 577 00:30:05,680 --> 00:30:09,880 Speaker 3: it out and it goes straight to Instagram. So it's 578 00:30:09,960 --> 00:30:15,320 Speaker 3: constant new content and it's constant new product. So the 579 00:30:15,440 --> 00:30:18,680 Speaker 3: turnover is crazy. But they actually have over three billion 580 00:30:19,040 --> 00:30:21,680 Speaker 3: Instagram impressions every single month because like I said, they 581 00:30:21,720 --> 00:30:26,480 Speaker 3: have three thousand of five thousand influencers that are promoting 582 00:30:26,600 --> 00:30:29,360 Speaker 3: fashion ovah, even though most of them aren't getting paid. 583 00:30:29,400 --> 00:30:31,000 Speaker 3: Because like I said, the most brilliant thing that they 584 00:30:31,000 --> 00:30:34,920 Speaker 3: did was actually make it a privilege to promote their friends. 585 00:30:34,920 --> 00:30:37,600 Speaker 3: You should be seen in our clothes exactly. 586 00:30:39,640 --> 00:30:42,320 Speaker 5: Fashional. So we've seen influence get paid before. 587 00:30:42,360 --> 00:30:45,600 Speaker 4: And one of the big stories of the past couple 588 00:30:45,600 --> 00:30:51,480 Speaker 4: of weeks has been Fire Festival on Netflix. And for 589 00:30:51,520 --> 00:30:54,800 Speaker 4: those who don't know what the Fire Festival documentary is about, 590 00:30:54,880 --> 00:30:59,440 Speaker 4: it it's about a man, Billy McFarland and Jo Rule 591 00:31:00,640 --> 00:31:03,120 Speaker 4: have an idea now on service to the idea makes 592 00:31:03,120 --> 00:31:06,720 Speaker 4: a lot of sense. It's fire dot Com is supposed 593 00:31:06,760 --> 00:31:11,160 Speaker 4: to be a site that bridges booking agencies and artists, right, so. 594 00:31:11,200 --> 00:31:12,560 Speaker 5: No longer do you have to have the miliment. 595 00:31:12,600 --> 00:31:15,320 Speaker 4: I think Billy in the documentary says he had to 596 00:31:15,320 --> 00:31:17,320 Speaker 4: pay somebody to talk to Ja Rule. Didn't have to 597 00:31:17,320 --> 00:31:19,600 Speaker 4: pay another guy to talk to Ja Rule. And so 598 00:31:19,680 --> 00:31:22,160 Speaker 4: he said, you know what, rather than going this method, 599 00:31:22,280 --> 00:31:24,920 Speaker 4: let's just cut the middle man out and let's create 600 00:31:25,000 --> 00:31:27,680 Speaker 4: something where I can talk directly to the artists, have 601 00:31:27,800 --> 00:31:30,440 Speaker 4: their schedule and say can I book you on a service? 602 00:31:30,640 --> 00:31:31,240 Speaker 5: Great idea. 603 00:31:31,280 --> 00:31:34,560 Speaker 4: I think it's a great idea to promote the site, 604 00:31:34,600 --> 00:31:40,480 Speaker 4: they decide to create a festival, hence the title Fire Festival, 605 00:31:40,920 --> 00:31:44,479 Speaker 4: which would which was supposed to be uh sort of 606 00:31:44,480 --> 00:31:47,680 Speaker 4: like a Coachella, but on a deserted island an island 607 00:31:47,720 --> 00:31:50,560 Speaker 4: that that he said he had owned in the Bahamas. 608 00:31:51,120 --> 00:31:52,680 Speaker 3: So they wanted they want so they want to throw 609 00:31:52,720 --> 00:31:56,120 Speaker 3: a music festival in the Bahamas to promote the app. 610 00:31:56,840 --> 00:31:58,800 Speaker 2: Absolutely, that's what that's what they want. That's what they 611 00:31:58,840 --> 00:31:59,200 Speaker 2: wanted to do. 612 00:31:59,320 --> 00:32:01,560 Speaker 5: Yeah, and they figured so they were smart about it. 613 00:32:01,600 --> 00:32:04,240 Speaker 4: They said, listen, rather, we'll get some marketing teams, but 614 00:32:04,520 --> 00:32:07,480 Speaker 4: the biggest way to promote something now is through Instagram. 615 00:32:07,520 --> 00:32:09,400 Speaker 4: Just like you said with a fashion over, the best 616 00:32:09,400 --> 00:32:12,800 Speaker 4: way to do it, let's go through influencers. So they 617 00:32:12,800 --> 00:32:17,080 Speaker 4: have ten supermodels, like Top of the Mine, supermodel Shanelli 618 00:32:17,160 --> 00:32:18,680 Speaker 4: Monits one of them. 619 00:32:18,840 --> 00:32:20,680 Speaker 5: Bella Indide was one of them. 620 00:32:21,040 --> 00:32:23,600 Speaker 4: And they said, you know what, can you just put 621 00:32:23,680 --> 00:32:29,640 Speaker 4: up this orange burnt square as the logo for what 622 00:32:29,680 --> 00:32:32,560 Speaker 4: we're about to do? Right and every day at this time, 623 00:32:32,600 --> 00:32:34,920 Speaker 4: can you put it up? And they do it and 624 00:32:34,960 --> 00:32:37,960 Speaker 4: it gains traction. They hashtag at the fire festival, and 625 00:32:38,000 --> 00:32:40,360 Speaker 4: then they do something really smart, right, they say, Hey, 626 00:32:40,880 --> 00:32:43,240 Speaker 4: who's the most popular person at the time or one 627 00:32:43,280 --> 00:32:46,560 Speaker 4: of the most popular persons or families at the time. Kardashians, 628 00:32:46,600 --> 00:32:50,400 Speaker 4: and they reach out to Kendall Jenner and tell her, listen, 629 00:32:50,400 --> 00:32:52,200 Speaker 4: we're going to give you two hundred fifty thousand dollars 630 00:32:52,200 --> 00:32:54,240 Speaker 4: if you could just say you're coming to the Fire 631 00:32:54,320 --> 00:32:55,400 Speaker 4: Festival to promote it. 632 00:32:55,440 --> 00:32:56,000 Speaker 2: So they paid. 633 00:32:56,040 --> 00:32:59,520 Speaker 3: They paid Kendle Jenner two hundred and fifty thousand dollars 634 00:32:59,560 --> 00:33:03,920 Speaker 3: to put a post up. Just suppose I'm excited about 635 00:33:03,920 --> 00:33:05,040 Speaker 3: Fire festival. 636 00:33:04,760 --> 00:33:09,840 Speaker 4: Right right, she does it, and I mean, the tickets 637 00:33:09,880 --> 00:33:13,320 Speaker 4: sell out within ten hours. They sell out so fast 638 00:33:13,320 --> 00:33:17,120 Speaker 4: that they have to start making other accommodations like listen, I. 639 00:33:17,080 --> 00:33:19,520 Speaker 5: Know you got the tickets for the festival. Here's the 640 00:33:19,560 --> 00:33:20,360 Speaker 5: VIP passes. 641 00:33:20,400 --> 00:33:23,360 Speaker 4: Then they'll sellout and they realize that they don't really 642 00:33:23,360 --> 00:33:24,120 Speaker 4: have the money. 643 00:33:23,840 --> 00:33:25,600 Speaker 5: To do this. Then they have to start coming up 644 00:33:25,640 --> 00:33:27,880 Speaker 5: with other ideas. Now you got a. 645 00:33:27,560 --> 00:33:31,200 Speaker 4: VIP bracelet, and it's a whole saga. It's an unfortunate 646 00:33:31,280 --> 00:33:35,880 Speaker 4: story because the idea on the surface of the app 647 00:33:36,040 --> 00:33:36,440 Speaker 4: was great. 648 00:33:36,560 --> 00:33:38,400 Speaker 5: The execution of the festival horrible. 649 00:33:38,440 --> 00:33:41,200 Speaker 4: A lot of people were devastated and affected by it, 650 00:33:42,360 --> 00:33:45,960 Speaker 4: and it is a complete box. They ruined the entire thing, 651 00:33:46,040 --> 00:33:47,840 Speaker 4: like people were showing up, they were sleeping in tense. 652 00:33:48,080 --> 00:33:48,880 Speaker 5: It was terrible. 653 00:33:49,400 --> 00:33:52,560 Speaker 4: And from that lawsuits start coming out, right, so they 654 00:33:52,600 --> 00:33:56,640 Speaker 4: start trying to sue Billy McFarland rule is called in 655 00:33:56,640 --> 00:33:59,800 Speaker 4: a lawsuit, and then Kendall Janner gets caught in a lawsuit, 656 00:34:00,160 --> 00:34:03,920 Speaker 4: and that's when it becomes interesting because people were saying, Hey, 657 00:34:04,440 --> 00:34:07,560 Speaker 4: we booked our tickets with the hopes that you were 658 00:34:07,560 --> 00:34:09,480 Speaker 4: going to be there. That's the only reason we did it. 659 00:34:10,040 --> 00:34:12,560 Speaker 4: So like, if he's guilty of something, so were you 660 00:34:12,719 --> 00:34:16,000 Speaker 4: because you promoted it. And all the other supermodels who 661 00:34:16,040 --> 00:34:18,480 Speaker 4: were part of it also get that lawsuit, and it 662 00:34:18,560 --> 00:34:23,000 Speaker 4: sparked something that is really really evident, really key in 663 00:34:23,080 --> 00:34:26,400 Speaker 4: the way that Instagram does things. Now from that we 664 00:34:26,480 --> 00:34:30,080 Speaker 4: get the hashtag ad right, so she's not found guilty 665 00:34:30,120 --> 00:34:34,640 Speaker 4: at the time of anythrowingdoing, but going forward, Instagram says, look, 666 00:34:34,680 --> 00:34:36,879 Speaker 4: if you're going to promote something and you don't want 667 00:34:36,920 --> 00:34:38,759 Speaker 4: to be held liable for it, you must tell us 668 00:34:38,760 --> 00:34:39,440 Speaker 4: that this is an AD. 669 00:34:39,640 --> 00:34:41,680 Speaker 3: I hold that us an add because the interesting thing 670 00:34:41,719 --> 00:34:47,319 Speaker 3: with that is that so in twenty twelve, high an 671 00:34:47,320 --> 00:34:50,719 Speaker 3: idea for a fashion blog. I was there, right, And 672 00:34:51,000 --> 00:34:52,640 Speaker 3: the reason why I had the idea for the fashion 673 00:34:52,640 --> 00:34:56,000 Speaker 3: blog is because I was following a fashion blog on Instagram, 674 00:34:56,040 --> 00:35:01,920 Speaker 3: fashion page on Instagram, and I noticed that they were 675 00:35:01,960 --> 00:35:05,800 Speaker 3: putting up ads without it actually making it seem like 676 00:35:05,840 --> 00:35:07,280 Speaker 3: it was an AD. And I'm like, this is brilliant 677 00:35:07,280 --> 00:35:08,560 Speaker 3: because what they were doing is that there was like 678 00:35:08,560 --> 00:35:10,560 Speaker 3: a look book, so they will put like different looks 679 00:35:10,640 --> 00:35:14,239 Speaker 3: up and then every like five posts they would have 680 00:35:14,360 --> 00:35:16,560 Speaker 3: like let's say a woman would a dress and they 681 00:35:16,600 --> 00:35:18,799 Speaker 3: were like, it would just be like a regular AD, 682 00:35:18,880 --> 00:35:20,520 Speaker 3: and then they would say like where you can get. 683 00:35:20,440 --> 00:35:21,040 Speaker 2: The dress from. 684 00:35:21,920 --> 00:35:24,959 Speaker 3: Most people didn't really fully understand what was being done, 685 00:35:25,000 --> 00:35:26,800 Speaker 3: but when I saw it, I saw I said, Okay, 686 00:35:27,360 --> 00:35:32,040 Speaker 3: they're paying her to put this up and it's camouflaged 687 00:35:32,080 --> 00:35:35,120 Speaker 3: as a regular post, but it's actually an AD, so 688 00:35:35,160 --> 00:35:37,880 Speaker 3: that it sounds simple now because we're used to seeing that, 689 00:35:37,920 --> 00:35:40,800 Speaker 3: but in twenty twelve that wasn't normal. 690 00:35:40,880 --> 00:35:43,440 Speaker 4: I think after that then they started putting the little 691 00:35:43,480 --> 00:35:45,839 Speaker 4: tags when you pushed the button on the dress, then 692 00:35:45,880 --> 00:35:47,360 Speaker 4: it would tell you where to get it from. 693 00:35:47,480 --> 00:35:51,680 Speaker 3: I think that came later later, so but that's what 694 00:35:53,200 --> 00:35:56,400 Speaker 3: Kendall Jenner was and essentially that's what she did, right 695 00:35:56,440 --> 00:35:59,760 Speaker 3: because she said, I'm so excited, I can't wait for Firefest. 696 00:36:00,640 --> 00:36:02,879 Speaker 3: That's really an AD, but it's not really an AD 697 00:36:03,000 --> 00:36:06,160 Speaker 3: right because it's like, okay to the people that's viewing it. 698 00:36:06,200 --> 00:36:08,840 Speaker 3: They like, if she's saying she's excited, it has to 699 00:36:08,840 --> 00:36:10,880 Speaker 3: be it got to be something. This has to be 700 00:36:11,239 --> 00:36:14,160 Speaker 3: They don't know she got paid a quarter million dollars 701 00:36:14,160 --> 00:36:15,759 Speaker 3: to say I'm so excited for this. 702 00:36:16,160 --> 00:36:19,399 Speaker 2: So now the federal government changes the law. 703 00:36:20,200 --> 00:36:23,640 Speaker 3: And this is why today you see either at the 704 00:36:23,680 --> 00:36:28,080 Speaker 3: top of the post it says paid advertisement or in 705 00:36:28,360 --> 00:36:32,160 Speaker 3: the actual caption it has hashtag AD because now you 706 00:36:32,280 --> 00:36:36,040 Speaker 3: have to have full transparency and to say this is 707 00:36:36,040 --> 00:36:37,640 Speaker 3: an AD because it was a very great life. If 708 00:36:37,640 --> 00:36:39,480 Speaker 3: you see a commercial on TV, you know it's an AD, 709 00:36:39,560 --> 00:36:40,960 Speaker 3: or if you see a print on you know it's 710 00:36:40,960 --> 00:36:43,680 Speaker 3: an AD. But if you see somebody's Instagram Paige, you 711 00:36:43,760 --> 00:36:44,960 Speaker 3: might not know it's an ADD or. 712 00:36:44,880 --> 00:36:47,040 Speaker 5: Not right, So you get a bunch of things. 713 00:36:47,640 --> 00:36:50,280 Speaker 4: It was the fire Festval, it was the herbal Teas, 714 00:36:50,640 --> 00:36:51,919 Speaker 4: it was the waste trainers, like there. 715 00:36:51,840 --> 00:36:56,359 Speaker 3: Was verbal te verbal t's and wayte trainers like game Changer. 716 00:36:56,440 --> 00:36:58,440 Speaker 4: Yeah, like those things were just popping up and it 717 00:36:58,480 --> 00:37:01,840 Speaker 4: was like like, oh, okay, yeah, we knew that all along, 718 00:37:02,280 --> 00:37:04,319 Speaker 4: but like now you have to say it. And then 719 00:37:04,360 --> 00:37:08,440 Speaker 4: from that Facebook and Instagram, like wait, these regular everyday 720 00:37:08,480 --> 00:37:10,920 Speaker 4: people are putting up ads. Now, we're gonna stop putting 721 00:37:11,000 --> 00:37:15,120 Speaker 4: up ads in your posts. So like now when you 722 00:37:15,160 --> 00:37:18,759 Speaker 4: go through your Instagram, there's ads everywhere. Every like every 723 00:37:18,800 --> 00:37:22,200 Speaker 4: four posts is an ad, right, And that starts from Hey, 724 00:37:22,400 --> 00:37:24,000 Speaker 4: if they're gonna do it, we're gonna make money too. 725 00:37:24,000 --> 00:37:26,440 Speaker 2: But that's how they monitor, that's how they monetize the 726 00:37:26,520 --> 00:37:26,960 Speaker 2: social media. 727 00:37:27,000 --> 00:37:28,960 Speaker 4: Were gonna figure this out. We figured it out. People 728 00:37:28,960 --> 00:37:31,200 Speaker 4: figured it out first. You're making money, no, no, we 729 00:37:31,200 --> 00:37:31,960 Speaker 4: gotta make money too. 730 00:37:32,040 --> 00:37:33,920 Speaker 3: So I think that was always the plan with social 731 00:37:33,960 --> 00:37:36,560 Speaker 3: media to add because that's the only way you can 732 00:37:36,600 --> 00:37:37,759 Speaker 3: really make money off of it. 733 00:37:37,880 --> 00:37:38,120 Speaker 5: Yeah. 734 00:37:38,719 --> 00:37:41,720 Speaker 3: I taught a class about that, where they're selling your attention. 735 00:37:42,000 --> 00:37:44,240 Speaker 3: So you bring your attention to social media and based 736 00:37:44,239 --> 00:37:46,560 Speaker 3: off of that is free. But nothing in this world 737 00:37:46,600 --> 00:37:49,000 Speaker 3: is free. So you're paying for it with your time 738 00:37:49,360 --> 00:37:50,880 Speaker 3: and they're selling your time to company. 739 00:37:51,160 --> 00:37:53,600 Speaker 4: Valuable asset of your time you can't get but most 740 00:37:53,640 --> 00:37:55,600 Speaker 4: that's the most like you can't get that back. 741 00:37:57,400 --> 00:38:01,799 Speaker 3: All right, Okay, all right, So yeah, we touched on 742 00:38:01,800 --> 00:38:03,480 Speaker 3: a couple of different things this episode. 743 00:38:04,400 --> 00:38:05,919 Speaker 5: Final word, Yeah, final word. 744 00:38:05,920 --> 00:38:08,479 Speaker 4: I just want to make it clear that even though 745 00:38:08,560 --> 00:38:12,279 Speaker 4: that the government shut down has ended, it's only temporarily, 746 00:38:12,400 --> 00:38:14,080 Speaker 4: like the President said, in three weeks. 747 00:38:14,080 --> 00:38:16,920 Speaker 5: If he doesn't, there's no compromise. The government could be 748 00:38:16,960 --> 00:38:19,480 Speaker 5: shut down again, So people. 749 00:38:19,200 --> 00:38:21,480 Speaker 4: Should really take heed to that, and some of the 750 00:38:21,480 --> 00:38:25,080 Speaker 4: things you said earlier obviously would definitely be beneficial. But 751 00:38:25,120 --> 00:38:26,440 Speaker 4: there are a lot of things that are on the 752 00:38:26,480 --> 00:38:28,600 Speaker 4: line if we get shut down again. 753 00:38:28,680 --> 00:38:29,640 Speaker 2: Can't rely on the government. 754 00:38:30,080 --> 00:38:33,000 Speaker 4: They could write so federal courts could run out of 755 00:38:33,000 --> 00:38:38,040 Speaker 4: operating money to run the daily business. Food programs are 756 00:38:38,080 --> 00:38:40,720 Speaker 4: in jeopardy of shutting down free lunch programs for schools. 757 00:38:40,760 --> 00:38:43,279 Speaker 4: So there's a lot of things online if we get 758 00:38:43,320 --> 00:38:43,959 Speaker 4: locked down again. 759 00:38:45,880 --> 00:38:50,040 Speaker 3: Yeah, yeah, So we'll ended with jay Z's line again. 760 00:38:50,160 --> 00:38:52,960 Speaker 3: Just want that to sink in and anticipation for precipitation, 761 00:38:53,080 --> 00:38:54,480 Speaker 3: stacked chips for a rainy day. 762 00:38:56,000 --> 00:38:56,680 Speaker 2: It's important. 763 00:38:56,680 --> 00:39:00,000 Speaker 3: It's important people, So once again, thank you for joint 764 00:39:01,120 --> 00:39:02,920 Speaker 3: We will see you guys next week. 765 00:39:04,440 --> 00:39:04,720 Speaker 2: Peace. 766 00:39:31,920 --> 00:39:35,799 Speaker 1: You just realized your business needed to hire someone yesterday. 767 00:39:36,320 --> 00:39:40,520 Speaker 1: How can you find amazing candidates fast? 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