Speaker 1: This is Bloomberg Business Week from Bloomberg Radio. I'm Jason Kelly.
Speaker 1: Welcome to the Bloomberg Business Week Extra. It's a podcast
Speaker 1: where we bring you an in depth interview you won't
Speaker 1: hear anywhere else. This time around talking to Tillman for Tita.
Speaker 1: He's the owner of the Rockets, he's the chairman of
Speaker 1: Landry's owner of a bunch of restaurants across the country.
Speaker 1: And he's got a new book. It's called Shut Up
Speaker 1: and Listen. Check it out. So Tellman, great to have
Speaker 1: you here. What inspires you to write a book? And
Speaker 1: kiddidly a book? This pointed the title alone, shut Up
Speaker 1: and Listen with the exclamation point. What inspired this? You know,
Speaker 1: it's really interesting. Harper Collins came to me about eighteen
Speaker 1: months ago and said, hey, Teman, we've watched your television show.
Speaker 1: We if we see you on all these business shows
Speaker 1: and and uh and al, we've seen some stuff with
Speaker 1: the Houston Rockets. We read all these articles and you
Speaker 1: have all these Tillman is ums and all these one
Speaker 1: liners about how you've been very fortunate and been successful
Speaker 1: and the tools that you used to be successful. Have
Speaker 1: you thought about writing a book, and I said, you know,
Speaker 1: people come to me all the time about writing a
Speaker 1: life story, and I've always said, I gotta wait till
Speaker 1: I get a little older, because I really want to
Speaker 1: go after some people, but I'm still out there doing deals.
Speaker 1: They said, that is not what we want. We want
Speaker 1: a book totally focused in a silo of of what
Speaker 1: do you do day to day? What separates you from
Speaker 1: everybody else in your big hospitality entertainment empire. And so
Speaker 1: that's what happened. They you know, did the outline and
Speaker 1: we had a lot of fun with it. Right, And
Speaker 1: so what was the biggest surprise to you in writing
Speaker 1: the book? Because there is a little there's some introspection
Speaker 1: in here. There's you know, some some reflection in terms
Speaker 1: of understanding what what makes yourself tick? I mean a
Speaker 1: book is sort of a form of therapy and in
Speaker 1: some ways of realizing sort of who you are. What
Speaker 1: what was surprising to you? What? What? What What? What? What
Speaker 1: got me was when I started sitting down and looking
Speaker 1: at old notes and had, uh, you know, round tables
Speaker 1: with my employees have been with me twenty five and
Speaker 1: thirty years. Uh, the stuff that I had even forgotten
Speaker 1: that I said, gosh, this is a great lesson again
Speaker 1: even for me, but but also the time that we
Speaker 1: put into it. Uh, even even HarperCollins said, the amount
Speaker 1: of time that you've gone through this book and then
Speaker 1: after it was written, the editing and the editing and
Speaker 1: the editing that I would take my team and we
Speaker 1: just go through the book and if I said, if
Speaker 1: you ever get to a paragraph that you feel like
Speaker 1: is dragging, we're gonna rewrite that paragraph or we're gonna
Speaker 1: take it out because I want this book bang bang bang.
Speaker 1: That every word means something in this book. Well, and
Speaker 1: I'm glad you brought that up, because one of the
Speaker 1: things that really jumps out to me as I read
Speaker 1: it is your incredible attention, I might even say obsession
Speaker 1: with detail. You tell some stories about I mean, really
Speaker 1: getting into it. You know, there's one anecdote about you know,
Speaker 1: going into a kitchen and you're you realize that the
Speaker 1: bus boy has been throwing the silverware, and so like
Speaker 1: you dump it out and you were going piece by
Speaker 1: piece through the garbage to pick out the silverware. Is
Speaker 1: that just a natural instinct that you have to be
Speaker 1: that detail oriented or is it something you learned it's
Speaker 1: believing or not. It's it's just the way I am.
Speaker 1: And and I went to a one of my best
Speaker 1: friend's house at the CEO of Jeffreys here in New York,
Speaker 1: Rich Handler, and he was having a party for all
Speaker 1: these next leaders on Wall Street. So they weren't just
Speaker 1: from his company, but from a lot. And there I
Speaker 1: walk in and the bartender sitting there, and I ordered, uh,
Speaker 1: Tito's and soda and two lines dash of cranberry, and
Speaker 1: he goes, I'm sorry, so we're out of lime. Okay,
Speaker 1: let me have a little cranberry. I'm sorry the cranberries
Speaker 1: at the other bar out there. And so I had
Speaker 1: to give him a little lesson in service on the
Speaker 1: side and and uh kind of gave him more hard
Speaker 1: time when I talked about everybody. But then I wrote
Speaker 1: him a nice book. No, give him a side book.
Speaker 1: But it's just I can't help but train people and
Speaker 1: just say this is what you're doing today. I don't
Speaker 1: care that you're studying to be an actor, but take
Speaker 1: pride and respect and do your job good okay, and
Speaker 1: stop telling the damn customer no okay. And that's a
Speaker 1: big focus in my book. I'm glad you said that,
Speaker 1: because that was something that really jumped out at me.
Speaker 1: Especially it seems very twenty nineteen. When all of us
Speaker 1: are looking for reasons to say no, you essentially say,
Speaker 1: start with yes and then figure it out. I'm paraphrasing,
Speaker 1: but tell me a little bit about that. It's just
Speaker 1: no matter who you talk to or who you ask
Speaker 1: or whatever. It just seems like if you just tell
Speaker 1: somebody know, they just move on. And I try to
Speaker 1: train all of my people take no out of your vocabulary.
Speaker 1: You don't have to say yes, okay, but you don't
Speaker 1: have to say no. And I'm tired of using you know,
Speaker 1: this one example, but I think it really explains it
Speaker 1: better than anything else. It's eleven o two in the morning,
Speaker 1: you just got off of a business call, you're on
Speaker 1: a road trip, and you call downstairs to order some
Speaker 1: brea was from the hotel. I'm sorry, sir, we don't
Speaker 1: serve breakfast anymore. And you go, okay, that's fine, I understand.
Speaker 1: I don't want to eggs ben a dickt or a
Speaker 1: Spanish Omelet just throw a couple of eggs into a
Speaker 1: skillet and and and scramble them real quick and send
Speaker 1: them up to me. I'm sorry, sir, we don't serve
Speaker 1: breakfast anymore. It's eleven o two. We quit that at
Speaker 1: eleven o'clock. But if I order a hamburger, you're gonna
Speaker 1: take that hamburger, Patty and throw it into the skill
Speaker 1: at the eggs. I promise you were sitting right there
Speaker 1: in the refrigerator too. It's so easy to say no?
Speaker 1: Why say yes? What happened to hospitality? And we're all
Speaker 1: in the hospitality business no matter if I'm in here
Speaker 1: with you when you're taking care of me because I'm
Speaker 1: your guest, or if you're a doctor, a lawyer or
Speaker 1: anything you do, we're all in the hospitality and service business.
Speaker 1: Why have we lost that? I don't know. And it's
Speaker 1: it's like it's just the time and age that we're
Speaker 1: in and everybody just wants to say no, and and uh,
Speaker 1: it's really disappointing. So I try to beat it in
Speaker 1: my company that you do not tell a customer no.
Speaker 1: You don't have to say yes, but you don't say no.
Speaker 1: You just give them a roadmap to get wherever they
Speaker 1: need to get somehow, all right, So with that incredible
Speaker 1: attention to detail, I know, you know the numbers of
Speaker 1: your business better than anyone. You point that out in
Speaker 1: your book that that's a key tenant for you as
Speaker 1: knowing the numbers given that tell us about the consumer
Speaker 1: right now, because I feel like we have a lot
Speaker 1: of evidence that the consumer is feeling pretty good. But
Speaker 1: at the same time, business leaders, you talk to them
Speaker 1: as well, they're a little cautious. Help me understand that
Speaker 1: dichotomy or that disconnect. Well, you have to know your numbers.
Speaker 1: And I can talk to anybody about their business. They
Speaker 1: can walk up to me and say, oh, I'm an entrepreneur,
Speaker 1: I have this company, and I'm truly sixty to ninety seconds,
Speaker 1: I can tell you if they know what they're talking
Speaker 1: about and as their business going to be successful because
Speaker 1: if they know their numbers are not. I mean, you
Speaker 1: can just wrap it far. And I loved it. I
Speaker 1: love doing it on my on my television and show
Speaker 1: Billion Dollar Buyer. And and the world is a little
Speaker 1: soft right now. But you've got to remember that history
Speaker 1: repeats itself. That's the one thing we know. And every
Speaker 1: five to six years there's always a little bleep and
Speaker 1: and we've gone now ten years that we have our
Speaker 1: economy has just been strong as it can be. But
Speaker 1: the problem is you can only keep growing so fast
Speaker 1: every year, and then it has to label off, level
Speaker 1: off because everybody has already bought. All the cars are
Speaker 1: gonna buy, all the TVs are gonna buy, all the
Speaker 1: books are gonna buy sometimes and and uh, it's just
Speaker 1: leveling off right now. That that doesn't mean it's got
Speaker 1: to go down and you and and are you gonna
Speaker 1: have the growth? Maybe not, but as long as you
Speaker 1: don't go negative, okay, it'll tremendously help us. But it's
Speaker 1: definitely soft out there because I see the consumer because
Speaker 1: I have the highest in and mast Rows and Martins,
Speaker 1: and then I own Bubba Gumps and Rainforest and and
Speaker 1: wards like that, and then with casinos everywhere from Vegas
Speaker 1: to Atlantic City to in between outside of Houston. So
Speaker 1: I have a really good feel for the consumer because
Speaker 1: I do over a hundred million customers a year out
Speaker 1: of my business, right and and so where do you
Speaker 1: see pockets of of worry among those consumers? Are people
Speaker 1: starting to sort of scale back on the high end
Speaker 1: or does that feel good? Or people starting to scale
Speaker 1: back in the middle where or if if there is
Speaker 1: that sort of softening. As you say, where is it.
Speaker 1: It's a little bit everywhere. You see a little bit
Speaker 1: at the high end and a little bit and the
Speaker 1: consumer going to certain suburban stores where I see that
Speaker 1: with more of my salt grasses and and and concepts
Speaker 1: like that. And it's not bad, don't get me wrong, okay,
Speaker 1: but you just you're not getting that one to two
Speaker 1: percent three percent positive same store sales every year, which
Speaker 1: the business people out there all knows a huge measurement
Speaker 1: and in any consumer business. And so as you think
Speaker 1: about the new concepts that that you have launched, which
Speaker 1: are the ones that have surprised you on the upside
Speaker 1: or or the downside? Uh, it's kind of unbelievable right
Speaker 1: now that people really love the fast casual and then
Speaker 1: they love the super high end. Uh. You know, right
Speaker 1: here in New York Catch, you know, the seafood restaurant
Speaker 1: we're just opened to Catch Stay. The Mastro's still heavy, heavy, busy, busy,
Speaker 1: Martin's busy, busy. But then I still see you know,
Speaker 1: Bubba Gump on Times Squared, you know, just killing it
Speaker 1: in Dose Caminos and and Bill's Burgers. You know how
Speaker 1: in the world do you do so much business selling burgers?
Speaker 1: But there's really somebody uh to eat everything out there,
Speaker 1: believe it or not? Right right, Well, speaking of what
Speaker 1: you you mentioned burgers, which gives me a good opening,
Speaker 1: one of the things I really wanted to ask you
Speaker 1: about is this whole sort of fox meat craze, because
Speaker 1: you understand the consumer. It feels like this has just
Speaker 1: come on so strong. What does that tell us about
Speaker 1: consum Where is desire either for something healthy, something different?
Speaker 1: How do you read that sort of pop with a
Speaker 1: beyond meat on the stock market and what seems to
Speaker 1: be a lot of excitement if nothing else, well, I
Speaker 1: think is all companies. I think Wall Street also starting
Speaker 1: to realize, is that we don't just want revenue like
Speaker 1: the tech companies. And even the tech companies now how
Speaker 1: they've kind of thrown up certain ones and and uh
Speaker 1: but but but investors want earnings now. It's not You're
Speaker 1: just not gonna do it on hype of revenue. You're
Speaker 1: gonna have to make money. And and and we're a
Speaker 1: fast change in society. And I preach as much as
Speaker 1: anybody change change, Think change, which I talked about in
Speaker 1: my book. It's one of my tumin is ms. But
Speaker 1: at the same time, when you analyze everybody, oh my god,
Speaker 1: it's it's I'm gonna eat a beyond meat burger because
Speaker 1: because it's it's healthier. Well maybe it is healthier in
Speaker 1: one way, but people don't even look to see that
Speaker 1: Your average rotein fat burger is I think two thirty
Speaker 1: calories and beyond meat burgers two undred and seventy calories.
Speaker 1: And it's it's almost like, through through marketing and media
Speaker 1: and just talking about it, that people really don't know.
Speaker 1: And and now but some people who don't want to
Speaker 1: eat meat, well now you've got this alternative. But that
Speaker 1: doesn't mean it's necessarily healthier. It's just maybe because that's
Speaker 1: that you don't want to eat meat, okay, but it's
Speaker 1: not proven necessarily that it's healthier. So look around the
Speaker 1: corner in terms of new concepts. What are people wanting
Speaker 1: more of that's not out there from a food perspective. Choices,
Speaker 1: just lots of choices like that. You know that there
Speaker 1: there's a lot of people that say people aren't gonna
Speaker 1: eat meat in three hundred years. I find that hard
Speaker 1: to believe. Uh, wire, steak, We're still a steak and
Speaker 1: potatoes world. Okay, I sell so many different steaks that
Speaker 1: so many different concepts, and as much as people love
Speaker 1: seafood and and other items, and and there's so many
Speaker 1: people now eating vegan or whatever, but they're just still
Speaker 1: seems as long as you have people, you're gonna have
Speaker 1: each type of people and group of people liking different
Speaker 1: types of food. Uh. You know, you mentioned your casino business,
Speaker 1: and I do wonder it feels like we've had a
Speaker 1: lot of m and A activity or potential m and
Speaker 1: a activity out in the sort of real estate, hotel
Speaker 1: and even the casino world. Some rumors about some things
Speaker 1: going on out in Vegas. What do you see in
Speaker 1: terms of the movement in that part of the industry
Speaker 1: I think is all industries. There continues to be lots
Speaker 1: of mergers and acquisitions and some companies getting bigger, some
Speaker 1: getting smaller. Uh, the the op Co, prop Co, and
Speaker 1: you know, I don't want to get too far over
Speaker 1: you know the viewers head here, but but you know
Speaker 1: where people monetize their real estate and and uh, you know,
Speaker 1: sometimes I'm really far that sometimes I'm against it, but
Speaker 1: it's kind of changed the world because it's raised the
Speaker 1: multiples of what you have to pay right So what
Speaker 1: are you looking to buy right now? Is that restaurant concepts?
Speaker 1: Is that other things in hospitality? You've got a blank
Speaker 1: check company. I believe that that you launch what what
Speaker 1: are you seeing out there in terms of potential acquisition?
Speaker 1: It's kind of funny and and and I talked about
Speaker 1: this in the book. Is I've always used when things
Speaker 1: start slowing down as an opportunistic time. And even right now,
Speaker 1: I just bought a very successful restaurant company out of bankruptcy.
Speaker 1: I'm gonna probably announce another major restaurant acquisition that I've
Speaker 1: been working on all week, even though I'm on this
Speaker 1: book road show. So I'm seeing the opportunity out there.
Speaker 1: And and it has nothing to do with the success
Speaker 1: of the individual restaurants. The individual restaurants are are are
Speaker 1: very successful. It's just the fact that once again, uh,
Speaker 1: the old Peter principal poor management has done a very
Speaker 1: poor job and how they set up the capital structure
Speaker 1: of these restaurants, or they just did certain major mistakes
Speaker 1: at the carpet level. So therefore it's a very opportunistic
Speaker 1: time for me because that's how I've always grown my
Speaker 1: network is in bad times. That's why you build liquidity
Speaker 1: and you build your balance sheet and good times and
Speaker 1: you don't have to do acquisitions in your good times.
Speaker 1: You eat the week and the bad times well. And
Speaker 1: you point out early in the book, you point out
Speaker 1: the importance of working capital and sort of having that
Speaker 1: money available not just to run your business, but but
Speaker 1: also too, as you say, take advantage of to pay
Speaker 1: a huge multiple when everybody's trying to do it. Why
Speaker 1: not wait until there's a dip in the economy, which
Speaker 1: always happens, and you get a lot more for your money.
Speaker 1: All right, So, speaking of buying things, you bought a
Speaker 1: basketball team not too long ago in your hometown. What's
Speaker 1: that been? Like? What's surprised you? I keep asking about
Speaker 1: the surprises, but what surprised you about being a team owner?
Speaker 1: You know, sports is religion and and especially in Texas,
Speaker 1: especially in Texas, but really everywhere. And even though you know,
Speaker 1: like I said, I've I've been doing TV and thanks
Speaker 1: for twenty five years. Okay, anything that you say, you
Speaker 1: all of a sudden you could be a headline on
Speaker 1: ESPN and and and it's you know, well, how was
Speaker 1: James and Chris Paul's relationship everything. You've got to be
Speaker 1: exactly careful are It's not their Howard Russell Westbrook and
Speaker 1: James Harden' gonna play together now? So so uh, sports
Speaker 1: is religion religion, You better choose your words right right. Uh?
Speaker 1: And so as you've gotten religion around the Rockets and
Speaker 1: the NBA, you seem to be in the midst of what,
Speaker 1: by all accounts, is one of the most interesting leagues.
Speaker 1: It's funny. I was talking to my I have two
Speaker 1: teenage sons. I was talking to them last night, told
Speaker 1: him I was going to see you today, and my
Speaker 1: sixteen year old said, you gotta ask him about the
Speaker 1: modern NBA player, social media, social consciousness. As an owner,
Speaker 1: how do you sort of embrace that and give them
Speaker 1: the room to be the brands that they are, but
Speaker 1: also run a successful team. You know, that's really such
Speaker 1: a such a Uh. Your sixty year is very smart
Speaker 1: because the NBA is unlike the other leagues that you
Speaker 1: have these players and and I don't know this for
Speaker 1: a fact, but I think I'm right. I bet you
Speaker 1: if you look at your top fifty most followed athletes
Speaker 1: in the United States, because there's some in in Uh,
Speaker 1: in Europe the soccer players that have huge followers. But
Speaker 1: in the United States, of your four major leagues football, basketball, Baseball,
Speaker 1: and in the NHL, I bet you forty five of
Speaker 1: the top fifty or NBA players that they have built
Speaker 1: this this where they're so big. And part of it
Speaker 1: is there's only five guys out there start and they're
Speaker 1: not wearing a helmet, they're not wearing a hat. The
Speaker 1: fans sits right there next to them. You get to
Speaker 1: know their personality. Uh. Where these football players have even
Speaker 1: been around for fifteen and eighteen years in the league,
Speaker 1: these quarterbacks, you just never get to know them like
Speaker 1: you do a basketball player. And and the NBA has
Speaker 1: done such a great job and I just came from
Speaker 1: an NBA owners meeting just a few minutes ago, is
Speaker 1: of propping up our players. Your players are superstars and
Speaker 1: and and they do have say so on these teams
Speaker 1: because I've got a guy like James Harden. Okay, I'm
Speaker 1: not gonna bring in a Chris Paul or a Russell
Speaker 1: Westbrook with without sitting down with James Harden and say, James,
Speaker 1: can you make it work with this guy? Okay? You
Speaker 1: just gotta have it because there's only five of you, okay,
Speaker 1: and you're the guys that are gonna make it happen.
Speaker 1: And so I think part of it is because they're
Speaker 1: so close to the fans, and that's why they have
Speaker 1: the huge social media following. They become such superstars and
Speaker 1: they make so much money that the top ones in
Speaker 1: our league, you know, make forty million. I got two
Speaker 1: of them making forty million. And then they have these
Speaker 1: huge shoe contracts from Nike and Adida's and under Armour
Speaker 1: and everybody else, and and uh, it's it's it's uh,
Speaker 1: it's it's interesting. But they're all great guys and and
Speaker 1: uh it's a great thrill to own a team in
Speaker 1: your hometown. Very few owners even get to experience that, right, Right,
Speaker 1: How's it changed sort of your day to day life
Speaker 1: moving around Houston? You have people, I mean, you're well
Speaker 1: known already and a restaurant tour and an entrepreneur, but
Speaker 1: when you own the team, that's a little bit of
Speaker 1: a different thing. And the Rockets are big, you know,
Speaker 1: as they are. But from I'm probably the one owner
Speaker 1: that when they bought their team in their hometown, I mean,
Speaker 1: it was like they would run polls, who do we
Speaker 1: want to buy the Rockets? Well, you know seventy, said
Speaker 1: Tillman Fatita. Just because I happened to have been around
Speaker 1: so long in my in town and was so so
Speaker 1: well known, Uh, did it take it uh to another level?
Speaker 1: Probably so, and everybody is so nice all the time.
Speaker 1: But also, just one sixty and fifty three games. I'm
Speaker 1: gonna have to be hiding if I only ever win
Speaker 1: thirty three games exactly. What's the biggest thing you've learned
Speaker 1: from owning a team that you apply back to your
Speaker 1: day to day business. Well, I probably it's more of
Speaker 1: what I apply to to the other in the NBA
Speaker 1: team is is that you still pay attention to the detail.
Speaker 1: There are no spare customers. Uh. If you don't put
Speaker 1: a good product out there, there's too much entertainment dollar
Speaker 1: in the city of Houston, they're gonna go do something else.
Speaker 1: So I treat the same thing, whether it be one
Speaker 1: of my hotels, casinos, restaurant seats, or putting people at
Speaker 1: a Rocket game at the Tota Center. You better put
Speaker 1: butts in the seats and you better put a good product.
Speaker 1: It's kind of funny, but it's no different than the
Speaker 1: rest of my businesses. Instead of serving good food or
Speaker 1: giving them a nice room. You better have good players
Speaker 1: out there who produce and have a good team, or
Speaker 1: people are not gonna come. And you know, it's kind funny.
Speaker 1: I'm into the details. I was walking last year one
Speaker 1: time and they were having their pre meeting of all
Speaker 1: the red coats who helped customers or do whatever. And
Speaker 1: I stopped them for a minute and and and and
Speaker 1: talk to them because I love to teach and train,
Speaker 1: and just you know, reminded them that that people are lost,
Speaker 1: people don't understand, be patient and let people walk away
Speaker 1: from the Toyota Center and say, everybody is so nice there, okay,
Speaker 1: And you just have to remind everybody that that we're
Speaker 1: we're in the in the hospitality business, no matter if
Speaker 1: you're sitting at one of my tables, are sleeping. Are
Speaker 1: you in the Toyota Center right? Uh? You have been
Speaker 1: very opportunistic, as you say in your day to day
Speaker 1: hospitality businesses. Are you planning to be opportunistic as more
Speaker 1: sports franchises come up? For sound? Uh? What? I love
Speaker 1: to own more sports for sure? Yeah, Okay, I love sports. Uh.
Speaker 1: I think the NFL and MLB and NHL and the
Speaker 1: MLS are great products and and there's never been a
Speaker 1: sports team for self for US, So I think long
Speaker 1: term investments. I don't think there's anything any better. Right,
Speaker 1: So you could, you could expand. I would love to
Speaker 1: expand if the opportunity is there. Right before I let
Speaker 1: you go, Houston, Uh, your hometown is such an interesting
Speaker 1: sort of economic hotbed. In many ways, it's a much
Speaker 1: more diverse economy. You and I were talking about this
Speaker 1: before we came on air. Uh. Then maybe people give
Speaker 1: it credit for what's the feel in Houston right now.
Speaker 1: Obviously a Ramco and all of that going on in
Speaker 1: the Middle East. I'm sure capture all had people's attention.
Speaker 1: But you think about the medical center, you think about
Speaker 1: just the breadth of the city. What's the temperature in
Speaker 1: Houston right now? Economically, Well, it's kind of interesting because
Speaker 1: when oil went from you know, around a hundred to
Speaker 1: down to the thirties and forties. Uh, and now you know,
Speaker 1: it's been kind of in the fifties now for a
Speaker 1: long long time. I sat on in this building and
Speaker 1: another studio said, if oil hits thirty in Houston, you
Speaker 1: can just shut it down. Well, I can tell you
Speaker 1: I was wrong. Okay, Houston has just built right through it.
Speaker 1: They're still building so many apartments, office buildings, UH malls,
Speaker 1: shopping centers, lifestyle centers, and and restaurants and hotels and
Speaker 1: uh it hasn't stopped. So it shows the diversification now
Speaker 1: of the UH of the Houston economy. And at the
Speaker 1: same time, developers have realized that Gosh, going to Houston
Speaker 1: and buying a piece of property for fifty to a
Speaker 1: hundred dollars to two hundred dollars of foot is much
Speaker 1: better than trying to buy it up east for five
Speaker 1: hundred dollars of foot. So the opportunity cost in Houston.
Speaker 1: It gets back to the opportunity cost and being opportunistic
Speaker 1: is much better in Houston than other markets. Favorite thing
Speaker 1: about writing this book, UH reminded myself and and I
Speaker 1: have so many people that that have said, hey, would
Speaker 1: you mentor me or teach me or whatever? It is
Speaker 1: all in this book and it is a quick read
Speaker 1: two and a half three hours. And and uh, I've
Speaker 1: yet to meet somebody that read the book that when
Speaker 1: they saw me, he didn't say I'll put the book
Speaker 1: down and wrote notes right then because I went and
Speaker 1: did that in my business, or it's somebody just trying
Speaker 1: to grow the corporate ladder. It's really simply written. And
Speaker 1: that was Tillman for Tita, owner the Rockets restaurant tour
Speaker 1: and now author of the book Shut Up and Listen.
Speaker 1: You've been listening to Bloomberg Business Week Extra, be sure
Speaker 1: to tune into Bloomberg Business Week Radio Live Monday through
Speaker 1: Friday at two pm Wall Street Time on Bloomberg Radio.
Speaker 1: I'm Jason Kelly. This is Bloomberg