WEBVTT - I Got Promoted Without a Raise! Help! 0:00:00.440 --> 0:00:04.120 Hey, Hey, hey guys, It's me Tiffany and it's Manjo. 0:00:04.240 --> 0:00:06.760 We just want to say thank you guys. You guys 0:00:06.800 --> 0:00:10.160 are amazing thanks to you. Since we started our podcast, 0:00:10.200 --> 0:00:13.040 it was just me and Mandy listening to ourselves to 0:00:13.119 --> 0:00:16.440 now we get over one hundred thousand downloads a month, 0:00:17.440 --> 0:00:20.200 and I know it seems like that's awesome, but we 0:00:20.239 --> 0:00:21.080 can do even better. 0:00:21.120 --> 0:00:23.239 And we have a favor to ask, just. 0:00:23.320 --> 0:00:27.040 A tiny favor, if you could please share our show. 0:00:27.360 --> 0:00:29.760 Share it on your social media. You can tag us 0:00:29.840 --> 0:00:33.720 at Brown Ambition Podcast. Take a screenshot of the show 0:00:33.760 --> 0:00:36.839 that you're listening to and share it on Twitter, on Insta, 0:00:36.880 --> 0:00:39.400 on Facebook, tell a friend to tell a friend. You 0:00:39.440 --> 0:00:42.200 can tag us on social media. We're at Brown Ambition 0:00:42.280 --> 0:00:45.680 Podcast on Insta, at the BA Podcast on Twitter, and 0:00:45.720 --> 0:00:48.240 of course our Facebook group. You can find us under 0:00:48.280 --> 0:00:51.640 Brown Ambition. Don't forget to tag our personal handles too. 0:00:51.760 --> 0:00:54.640 On Insta. I'm at Mandy Money Mandy with an Ie, 0:00:55.000 --> 0:00:57.760 and Tiffany is at the Budget Nista. When you tag us, 0:00:57.760 --> 0:01:00.760 we will share your post and help amplify it even further. 0:01:01.200 --> 0:01:03.240 Thank y'all for all the love this is just gonna 0:01:03.280 --> 0:01:05.760 help us give us that little extra brown boost. 0:01:22.120 --> 0:01:29.559 Hey, hey, hey, I felt like I just something special. 0:01:30.640 --> 0:01:37.679 We're back, We're black, We're brown, ambit. 0:01:39.440 --> 0:01:44.720 I needed that we're brown as an ambition, right. 0:01:44.640 --> 0:01:46.959 Yes, the hell Manas we've been gone for. 0:01:46.840 --> 0:01:49.160 So long, I know, it does feel like it's been 0:01:49.200 --> 0:01:51.080 a while. It's only been a couple of weeks, I guess, 0:01:51.280 --> 0:01:55.280 but yeah, it's like you have another rio. I was 0:01:55.320 --> 0:01:58.320 only gone for two weeks for the entire pregnancy or 0:01:58.360 --> 0:02:02.320 the entire maternity leave. Listen, we did do an Instagram live, 0:02:02.440 --> 0:02:05.680 but we did not. We could not save the audio. 0:02:05.720 --> 0:02:06.800 We had technical difference. 0:02:06.960 --> 0:02:09.920 Yes, honestly, Instagram is be ahater, especially when you do 0:02:10.040 --> 0:02:12.560 one for like I guess, a decent amount of time. 0:02:13.160 --> 0:02:15.799 Like my hands always shake whenever I do an Instagram 0:02:15.800 --> 0:02:18.240 live after, like when I want to save it, because 0:02:18.280 --> 0:02:22.559 sometimes Instagram's like Psyche can move to slow. It's gone rude, 0:02:22.919 --> 0:02:24.679 I know. So you try to save it because you 0:02:24.760 --> 0:02:28.800 have a choice. You can go straight to igtv or save. 0:02:29.000 --> 0:02:30.720 But the problems they don't tell you is that if 0:02:30.760 --> 0:02:34.080 you save it and want to upload it later to IGTV, 0:02:34.160 --> 0:02:37.160 it doesn't let you if it's over fifteen minutes. So 0:02:37.320 --> 0:02:39.239 like in the moment, you have to go direct to 0:02:39.280 --> 0:02:41.360 IGTV and you have to think of a cap so 0:02:41.400 --> 0:02:43.840 you have to make all these choices within like just 0:02:43.880 --> 0:02:45.960 a few minutes, and it's very nerve wracking and needless 0:02:46.000 --> 0:02:47.520 to say, I didn't make. 0:02:47.440 --> 0:02:48.720 My choices ahead of time. I was like, oh, I 0:02:48.720 --> 0:02:50.000 sho done this ahead of time? 0:02:50.080 --> 0:02:56.040 Sweating right now. But look, a lot has happened since 0:02:56.080 --> 0:02:58.640 the last time we were here, at least in podcast land, 0:02:59.240 --> 0:03:02.640 and we have been teasing a little nugget of news. 0:03:03.080 --> 0:03:04.920 I guess we can tell you guys. I mean, I 0:03:04.919 --> 0:03:07.520 guess we kind of owe it to you. But a 0:03:07.520 --> 0:03:09.480 piece of news that we dropped in the live that 0:03:09.520 --> 0:03:12.519 I feel like Tiffany should definitely share is what's coming 0:03:12.600 --> 0:03:13.240 up for you? 0:03:15.200 --> 0:03:18.000 Yes? So wait which one? The book? 0:03:18.880 --> 0:03:24.680 Girl? It's your announcement the book? Yeah? No, no, wait 0:03:24.720 --> 0:03:25.919 hitting up Money magazine. 0:03:26.000 --> 0:03:26.800 Oh, Money Magazine. 0:03:27.000 --> 0:03:29.440 I'm like, there's too much good news. Go ahead. 0:03:30.160 --> 0:03:33.720 So yes, your girl is the face? Oh gin. 0:03:33.760 --> 0:03:35.520 You know it's so funny because we're taking February first, 0:03:35.560 --> 0:03:38.680 which is beginning a Black History month. Okay, but your 0:03:38.680 --> 0:03:41.560 girl is the face and the very first black woman 0:03:42.120 --> 0:03:44.960 on the Money magazine cover by herself. I think they 0:03:45.000 --> 0:03:46.720 had like a family wants like as like a stock 0:03:46.720 --> 0:03:49.920 photo family. But yeah, I'm on the cover of Money magazine. 0:03:49.920 --> 0:03:56.360 It's a digital magazine now, but it used to be like, 0:03:56.400 --> 0:03:59.320 you know, like I used to buy Money magazine. So 0:03:59.360 --> 0:04:02.680 it's just so crazy that, like, uh, to be on 0:04:02.720 --> 0:04:05.800 the cover and what's what I love? It was like 0:04:06.000 --> 0:04:10.760 such a blackly black black undertaking because Leela Nima, who 0:04:10.760 --> 0:04:15.440 does my my, my, my makeup, black, Tanetta Bell, who 0:04:15.680 --> 0:04:17.840 does all of our pictures, she actually did our our 0:04:18.320 --> 0:04:21.159 our Brand Ambition picture that you see for you know, 0:04:21.200 --> 0:04:24.599 the cover of Brand Ambition. Tanetta is black. My stylist 0:04:24.640 --> 0:04:28.039 Tracy who's also my publicist. You know, she styled me 0:04:28.080 --> 0:04:28.479 that day. 0:04:28.560 --> 0:04:31.880 Black. It just it was amazing And. 0:04:31.920 --> 0:04:35.160 To see the cover, it's just it's just surreal because 0:04:35.560 --> 0:04:38.080 I was an awkward kid who always thought that there 0:04:38.120 --> 0:04:41.159 was something wrong with my the like the darkness of 0:04:41.200 --> 0:04:43.960 my skin and the kinkiness of my hair, and so 0:04:44.400 --> 0:04:46.320 for it to be on the cover of a magazine like, 0:04:46.400 --> 0:04:49.320 oh but it's cute girl, it's kind of surreal. 0:04:49.400 --> 0:04:50.719 So that's awesome news. 0:04:50.960 --> 0:04:54.960 I'm still I'm still so in awe. That is huge, huge, huge, huge. 0:04:55.040 --> 0:04:57.919 The first black woman on Money magazine. I was hummed 0:04:57.920 --> 0:05:00.320 because my oh, you're gonna love this. Me and my cousin. 0:05:00.360 --> 0:05:02.040 Actually we were going to do a vision board. Well, 0:05:02.040 --> 0:05:03.640 we actually did do vision We had a vision board 0:05:03.640 --> 0:05:06.520 party on Friday and we were at CVS looking in 0:05:06.560 --> 0:05:08.440 the magazine aisle and I was like, where's money. I 0:05:08.440 --> 0:05:10.160 want to get the money magazine. I didn't realize you 0:05:10.160 --> 0:05:13.200 couldn't get the actual business. I know, can they like 0:05:13.279 --> 0:05:16.960 make one if you order it? I know. 0:05:17.640 --> 0:05:20.200 Well, it's because now you know how all magazines basically, 0:05:20.400 --> 0:05:22.000 no magazines are making money anymore. 0:05:22.920 --> 0:05:26.479 So they're expensive too. We spend ninety dollars on like 0:05:26.520 --> 0:05:28.800 a few magazines. I was like, so this is why 0:05:28.839 --> 0:05:29.400 they're dying. 0:05:29.839 --> 0:05:31.680 Yeah, because they're running at Yeah, it's just so most 0:05:31.680 --> 0:05:33.479 of them are just digital. But it's still like just 0:05:33.520 --> 0:05:34.839 such an amazing hon ourselves. 0:05:34.839 --> 0:05:39.479 That's huge. TIFFs so huge. So Coy yes and the 0:05:39.520 --> 0:05:43.719 other news for us for Brown Ambition. So we have 0:05:43.839 --> 0:05:47.720 been you guys know, we've been independent forever and we've 0:05:47.720 --> 0:05:51.080 done the show well, I mean, I'm not even going 0:05:51.160 --> 0:05:54.039 to pretend like you know, we were podcasting experts. In 0:05:54.080 --> 0:05:56.480 the beginning. We did a lot of We chatted about 0:05:56.480 --> 0:05:58.840 the beginning of Brown Ambition actually during our fifth year 0:05:58.839 --> 0:06:02.400 anniversary show in September, so I definitely recommend going back 0:06:02.440 --> 0:06:05.119 and checking that episode out for like the beginnings of BA. 0:06:05.640 --> 0:06:08.160 But we have been independent. I wait, how do you 0:06:08.200 --> 0:06:09.040 spell it way? 0:06:11.760 --> 0:06:12.680 What you know about me? 0:06:12.760 --> 0:06:17.279 That's hilarious, I can't spell it anyway. For over five 0:06:17.320 --> 0:06:20.400 years now, we had worked with an ad agency because 0:06:20.440 --> 0:06:23.919 you know, it's cute to make money sometimes so and 0:06:24.000 --> 0:06:26.960 to keep the show free to you guys and relatively 0:06:26.960 --> 0:06:29.600 affordable to produce. We started to work with an ad agency, 0:06:30.080 --> 0:06:32.560 but we started to feel like it would be nice 0:06:32.560 --> 0:06:35.600 to get the support and I don't know, the support 0:06:35.640 --> 0:06:39.839 and muscle of a podcast network to actually help the 0:06:39.880 --> 0:06:43.040 show take it to the next level, because you guys 0:06:43.080 --> 0:06:45.400 have really made Brown Ambition what it is through word 0:06:45.400 --> 0:06:48.200 of mouth. And yes, we get some love from the 0:06:48.240 --> 0:06:50.560 podcast networks throughout the year and all of that, but 0:06:51.120 --> 0:06:53.640 it's really been our early listeners who have just like 0:06:53.760 --> 0:06:55.760 told a friend to tell a friend and have been 0:06:55.760 --> 0:06:59.799 building and growing with us ever since you know, we started. However, 0:07:00.279 --> 0:07:03.440 we're very, very excited because we finally signed a deal 0:07:03.480 --> 0:07:09.880 with a new podcast network. Yeah, Adia you probably haven't 0:07:09.920 --> 0:07:12.400 heard of them, but they are a huge, huge, huge 0:07:12.440 --> 0:07:15.160 in the radio space and they have a podcast network 0:07:15.200 --> 0:07:18.800 they are called Westwood One, which is the behind the 0:07:18.840 --> 0:07:23.040 scenes face of Cumulus Media. So we're very excited about 0:07:23.080 --> 0:07:25.160 Westwood One. And we have to give them a big, 0:07:25.200 --> 0:07:29.120 big shout out for taking Brown Ambisi on and yeah, 0:07:29.240 --> 0:07:31.760 loving the show and we're excited to work with them 0:07:31.960 --> 0:07:34.280 and stay tuned for more. 0:07:34.800 --> 0:07:36.680 Yeah, I'm excited about that because it's like, you know, 0:07:36.840 --> 0:07:39.080 we've been doing this for some time. We've built like 0:07:39.120 --> 0:07:44.320 this nice juggernaut of like an audience, and now it's like, okay, 0:07:44.640 --> 0:07:47.560 you know, we this is just the next level for us. 0:07:47.640 --> 0:07:49.880 I'm excited to take you guys alone for the ride. 0:07:50.560 --> 0:07:53.640 Yeah. And if you know, if you're wondering, okay, have 0:07:53.680 --> 0:07:56.160 you guys sold out, Like what does this mean? It 0:07:56.200 --> 0:07:59.440 doesn't mean that we've sold out at all, honestly. If anything, 0:07:59.600 --> 0:08:01.960 if you brand ambition, you should be very very excited 0:08:02.000 --> 0:08:04.320 for us because this is just going to help us 0:08:04.400 --> 0:08:06.680 get this show in front of more people that can 0:08:06.800 --> 0:08:09.360 share in the joy and share in the bea goodness 0:08:09.400 --> 0:08:12.440 that we share each week. And Westwood One, you know, 0:08:12.480 --> 0:08:14.720 and maybe we should we can be like candid about this. 0:08:14.800 --> 0:08:17.320 I mean, Tiffany and I had lots and lots of 0:08:17.440 --> 0:08:20.480 discussions not just with Westwood One, but other networks as 0:08:20.480 --> 0:08:22.840 well over the past, like when did I start this process, 0:08:22.920 --> 0:08:26.360 like August, July or August, talking in different networks, and 0:08:26.400 --> 0:08:28.920 we were very adamant that, you know, we want to 0:08:29.000 --> 0:08:32.679 retain autonomy over you know, what kind of shows we do, 0:08:33.080 --> 0:08:36.600 of course, what kind of brands we advertise, because that's 0:08:36.640 --> 0:08:39.160 important to us. You know, we don't want to talk 0:08:39.160 --> 0:08:41.000 about a brand that we don't like or that isn't 0:08:41.040 --> 0:08:43.360 going to be good for you guys. So yeah, and 0:08:43.400 --> 0:08:46.760 so we retain that independence and that was really and 0:08:46.800 --> 0:08:49.040 truly you know, important to us. 0:08:49.760 --> 0:08:54.040 No, it is, and I'm really because we've seen all them. 0:08:54.600 --> 0:08:56.920 I mean, everybody watched What Is It Unforgivable with Dave 0:08:57.000 --> 0:09:00.400 Chappelle and you've heard about like Kanye complaining about not 0:09:00.480 --> 0:09:03.839 having ownership. He just I just didn't want that for 0:09:04.320 --> 0:09:06.800 for me, for Mandy and for the projects that we 0:09:06.880 --> 0:09:07.840 do moving forward. 0:09:07.840 --> 0:09:09.240 So we were just really. 0:09:09.320 --> 0:09:12.760 Adamant that, you know, it's not just creative control, but 0:09:12.960 --> 0:09:15.400 like ownership of what we create. 0:09:15.480 --> 0:09:17.120 And so we're just I'm just proud of us. I 0:09:17.120 --> 0:09:18.480 feel like we're we are. 0:09:18.679 --> 0:09:21.280 We are out of our teenage podcast years and now 0:09:21.280 --> 0:09:25.280 we're into our young adult podcast podcast journey. 0:09:25.640 --> 0:09:28.400 Yes, I'm excited for the next chapter with you, Tiffany. 0:09:28.440 --> 0:09:30.960 And here's to another five years, ten years. I don't 0:09:30.960 --> 0:09:35.079 know what will be podcasting on Mars. Maybe in the Tesla, 0:09:35.120 --> 0:09:38.280 I don't know. Maybe And yeah, and it's been a 0:09:38.280 --> 0:09:40.160 big it's been a big month for me too. I 0:09:40.160 --> 0:09:45.080 actually left my job, my longtime job of five years 0:09:45.360 --> 0:09:48.040 at lending Tree. For those of you who I don't, 0:09:48.120 --> 0:09:50.640 I wasn't suit. I didn't always talk about work, but 0:09:51.120 --> 0:09:53.240 for a long time I was a senior content director 0:09:53.280 --> 0:09:56.040 at a company called lending Tree. And I came to 0:09:56.120 --> 0:10:00.400 lending Tree through Magnified Money, which my Magnified Money, which 0:10:00.440 --> 0:10:03.360 Tiffany and I both have connections too, because I joined. 0:10:03.520 --> 0:10:05.640 I was like one of the first four or five 0:10:05.679 --> 0:10:09.160 employees at Magnified Money in twenty sixteen, and they hired 0:10:09.160 --> 0:10:11.079 me to run their content. And that was the same 0:10:11.120 --> 0:10:15.160 year when Magnified Money partnered with Tiffany with the second 0:10:15.280 --> 0:10:18.360 or third Liverature Challenge maybe edition. 0:10:19.400 --> 0:10:20.280 Yeah, that was the third one. 0:10:20.800 --> 0:10:23.000 Yeah, And so when I when I joined, I remember 0:10:23.040 --> 0:10:24.600 them being like, okay, cool. One of the first things 0:10:24.640 --> 0:10:26.800 you can do is create content for this partnership with 0:10:26.880 --> 0:10:29.040 you know this lady named the Budgetista. I'm like, do 0:10:29.200 --> 0:10:32.880 I eber so? Yeah, Magnified Money was so good to me. 0:10:32.960 --> 0:10:35.480 And they were acquired by lending Tree a year after 0:10:35.520 --> 0:10:38.720 I joined, And I mean, I got to grow that 0:10:38.760 --> 0:10:43.319 team from two to over thirty and it's just been 0:10:43.360 --> 0:10:48.120 such an amazing journey. And I feel like every career 0:10:48.200 --> 0:10:50.320 question we got the past few months from people, I 0:10:50.400 --> 0:10:52.560 was sort of, you know, I was in the same position, 0:10:52.640 --> 0:10:55.240 you know, wondering when's the right time to make a 0:10:55.280 --> 0:10:59.280 move and and you know, what will the next move be? 0:10:59.679 --> 0:11:02.920 And we'll find you know, will you find true happiness 0:11:02.960 --> 0:11:05.600 now that you've had some time to Like, I really 0:11:05.600 --> 0:11:07.200 have had time to figure out what I like and 0:11:07.679 --> 0:11:10.000 don't like about what I'm doing or where my strengths are. 0:11:10.120 --> 0:11:14.360 And I'm not prepared to announce anything right now. I'm 0:11:14.400 --> 0:11:18.600 not allowed to technically announce anything right now, But hopefully 0:11:18.640 --> 0:11:20.560 by next week's show, I'll be able to share with 0:11:20.559 --> 0:11:22.880 you guys what is next for me. But I will 0:11:22.880 --> 0:11:24.240 tell you that it's very, very. 0:11:24.040 --> 0:11:26.280 Exciting yeah, it's very exciting. 0:11:27.120 --> 0:11:31.520 Yes, yes, yes, so lots and lots of stuff going on, 0:11:31.640 --> 0:11:34.800 but good stuff. And yeah, twenty twenty one is gonna 0:11:34.800 --> 0:11:39.280 be eyed if we just don't catch COVID and die. 0:11:42.280 --> 0:11:46.120 Oh god, So. 0:11:45.400 --> 0:11:48.880 Speaking of craziness in twenty twenty, you want to talk 0:11:48.880 --> 0:11:50.200 about what everybody's been talking about? 0:11:50.240 --> 0:11:53.080 Game stop? Shorting all of that headphones. 0:11:53.240 --> 0:11:55.640 We have to talk about game stop. Yes. Two of 0:11:55.640 --> 0:11:58.680 my cousins were like, what is this game stop situation? 0:11:59.559 --> 0:12:01.560 I can't wait? Game stock? I keep calling it game 0:12:01.559 --> 0:12:05.440 stock because all the stock anyway, game stop? Yes, everyone 0:12:05.440 --> 0:12:07.560 has been talking about this. Do you want to tee 0:12:07.600 --> 0:12:09.840 it up? Like, what's the what's the background tip as 0:12:09.880 --> 0:12:10.600 you understand it? 0:12:11.440 --> 0:12:13.640 Well, the background tip as I understand it, is that 0:12:13.720 --> 0:12:16.160 you have to just so there's two types of investing. 0:12:16.240 --> 0:12:19.840 Well there's many, but two core types. There's like the 0:12:20.600 --> 0:12:24.760 long position. That's when you like buy and that's when 0:12:24.800 --> 0:12:27.360 you buy and hold. This is like if you think 0:12:27.400 --> 0:12:29.920 of oh, who's that old guy, the oracle of Amaha. 0:12:30.040 --> 0:12:31.679 What's his name, Warren Buffett? 0:12:31.920 --> 0:12:34.040 There you go, so like Warren Buffett, right, he's the 0:12:34.120 --> 0:12:36.680 king of that. Like you buy good stock at a 0:12:36.679 --> 0:12:38.920 discount you hold, hold, hold the stock. You know, the 0:12:38.920 --> 0:12:42.160 stock increases in value. So that's his position, and honestly, 0:12:42.160 --> 0:12:45.280 that's what most people. You know, when you think about investing, 0:12:45.720 --> 0:12:48.040 you think long term, so in five years or more, right, 0:12:48.200 --> 0:12:51.679 But then there's some folks who take the short position, 0:12:52.720 --> 0:12:55.360 and that's when you're kind of getting you know, wanted 0:12:55.400 --> 0:12:58.559 to make your money now, it's more speculative. A lot 0:12:58.559 --> 0:13:03.120 of hedge funds navigate in this space. So when you're 0:13:03.200 --> 0:13:06.240 taking the short position, or if you're shorting a stock, 0:13:06.559 --> 0:13:09.920 you're with okay. When you're taking a long position, you're 0:13:09.920 --> 0:13:11.920 hoping the stock goes up in value because you bought 0:13:11.920 --> 0:13:13.560 a four dollar you wanted to go up to two 0:13:13.600 --> 0:13:16.120 dollars and three thousand four dollars. But when you short 0:13:16.160 --> 0:13:19.320 a stock, you're actually hoping the stock goes down in 0:13:19.440 --> 0:13:23.360 value because you borrowed the stock at a certain amount, 0:13:23.440 --> 0:13:25.880 So you don't really you're not you haven't paid for it, 0:13:26.160 --> 0:13:28.320 but you've borrowed a stock at a certain amount, and 0:13:28.360 --> 0:13:31.280 you're hoping for it to go down so you can 0:13:31.360 --> 0:13:34.839 pocket the difference when you do buy it and when 0:13:34.880 --> 0:13:37.040 you do give it back. So it's like I borrow 0:13:37.080 --> 0:13:40.520 the stock at two dollars the stock price went down 0:13:40.559 --> 0:13:43.360 to one dollar. You know, I pay for the for 0:13:43.400 --> 0:13:45.959 the one dollar stock, and I'm able to give the 0:13:46.040 --> 0:13:48.440 person back there too, But I basically I made a 0:13:48.520 --> 0:13:50.839 dollar off each stock. So it's when you get to 0:13:50.880 --> 0:13:53.120 borrow a stock and pay and get to keep pocket 0:13:53.160 --> 0:13:55.000 the difference because the stock has gone down. 0:13:55.200 --> 0:13:57.160 Girl, as many times as if I have heard so 0:13:57.160 --> 0:13:59.000 many people explain this to me and read about it, 0:13:59.040 --> 0:14:04.280 I'm still just like short got it, Like it's just 0:14:04.440 --> 0:14:08.120 it's crazy. Well, it's crazy. It's like it's very sophisticated 0:14:08.160 --> 0:14:12.040 investing that is typically done by like sophisticated investors like 0:14:12.080 --> 0:14:15.679 hedge funds, Like Tiffany said, but I just the intersection 0:14:15.800 --> 0:14:18.840 between Wall Street and Reddit just like collided with this 0:14:18.880 --> 0:14:22.800 whole game saying and they're calling it robinhood has been 0:14:22.960 --> 0:14:28.120 like it's being dragged for days over their reactions. So 0:14:28.320 --> 0:14:32.560 what so basically talk about you know, game stop and 0:14:32.680 --> 0:14:35.800 how Reddit and how I don't know, like the David's 0:14:35.880 --> 0:14:40.480 of America decided to use this like hedge fund shorting 0:14:40.520 --> 0:14:45.400 strategy to beef up game stops value and and and 0:14:45.440 --> 0:14:47.480 take the stock to new heights and basically make these 0:14:47.520 --> 0:14:50.160 hedge funds lose like billions and billions of dollars. 0:14:50.880 --> 0:14:53.680 So one hedge fund in particular, Melvin Capitol, Right, So 0:14:54.160 --> 0:14:57.080 they were shorting gamestock like crazy short short short, so, 0:14:57.240 --> 0:15:01.840 which means that they're betting on game stock losing its value, 0:15:01.840 --> 0:15:03.600 which is kind of mean when you think about it. 0:15:03.600 --> 0:15:06.120 It's almost like someone comes to your basketball game when 0:15:06.160 --> 0:15:08.880 you're a kid and bets against you losing, like, yesh, 0:15:08.880 --> 0:15:09.920 they're gonna lose by two points. 0:15:09.960 --> 0:15:11.320 Look, oh, they gotta lose bout one point. 0:15:11.440 --> 0:15:15.000 And not only just that, but kind of manipulate the 0:15:15.080 --> 0:15:18.120 market so you can lose. So let's not pretend like 0:15:18.120 --> 0:15:20.520 they're just waiting and hoping and crossing your fingers. 0:15:20.560 --> 0:15:22.600 Now there's market manipulation. 0:15:23.000 --> 0:15:26.800 So because the purpose of the short is I want 0:15:26.800 --> 0:15:29.000 your stock to go down so I can pocket the 0:15:29.000 --> 0:15:31.560 difference of the stock that I borrored against you. And 0:15:31.600 --> 0:15:35.520 so it's mean and it's nasty, and it's you know, 0:15:36.280 --> 0:15:38.880 low bar investing if you ask me, which you haven't, 0:15:38.880 --> 0:15:42.320 but I'm telling you anyway. So, people on Reddit, there's 0:15:42.360 --> 0:15:44.480 this group called Wall Street Bets. It's about four hundred 0:15:44.520 --> 0:15:47.520 four million members, mostly guys. From what I can see, 0:15:48.080 --> 0:15:50.760 you know, they started to get kind of pissy and 0:15:50.800 --> 0:15:53.560 they were just like, why is it that these hedge 0:15:53.560 --> 0:15:56.680 funds get to bet on good companies going down and 0:15:56.720 --> 0:15:58.840 then encouraging these good companies to go down. 0:15:59.040 --> 0:15:59.760 I don't like it. 0:16:00.160 --> 0:16:02.880 How about if we started to buy game stock stock, 0:16:03.520 --> 0:16:05.840 so as you know, one of the reasons, well, there's 0:16:05.880 --> 0:16:07.680 so many reasons why stocks can go up and down, 0:16:07.840 --> 0:16:11.520 but certainly stocks being purchased in mass is one of 0:16:11.560 --> 0:16:14.320 the reasons why a stock's price can go up, and 0:16:14.360 --> 0:16:17.120 so that's what they decided to do independently, like I 0:16:17.120 --> 0:16:18.040 think we should just buy. 0:16:18.200 --> 0:16:19.960 So people were buying and buying and buying. 0:16:20.080 --> 0:16:24.040 Now, remember the only way that if you're shorting a 0:16:24.080 --> 0:16:27.280 stock that you make money is when the stock goes down, 0:16:27.640 --> 0:16:29.640 because you get to save the difference. Now, if the 0:16:29.680 --> 0:16:32.480 stock goes up, that means you actually have to pay 0:16:32.520 --> 0:16:34.960 back the person that you borrowed that amount of money. 0:16:34.960 --> 0:16:35.920 So you actually can. 0:16:35.880 --> 0:16:40.640 Lose, and lose by a lot because you let's just say, 0:16:40.640 --> 0:16:43.120 if you have like a long position, you invest a 0:16:43.160 --> 0:16:46.240 thousand dollars and the stock goes to zero, you just 0:16:46.320 --> 0:16:47.400 lost a thousand, that's it. 0:16:47.720 --> 0:16:50.560 But if you're shorting a stock, and you borrow ten 0:16:50.720 --> 0:16:53.600 stocks and you borrow. 0:16:53.440 --> 0:16:55.720 Them for twenty dollars, and you tell yourself, you know what, 0:16:55.720 --> 0:16:57.480 the stocks can't go down to five dollars, So when 0:16:57.520 --> 0:17:00.000 it goes down to five, you know, you give them 0:17:00.120 --> 0:17:02.120 back there their twenty dollars stock. 0:17:02.160 --> 0:17:03.640 You get to keep fifteen for yourself. 0:17:03.680 --> 0:17:05.760 But if that stock goes up to twenty, goes up 0:17:05.760 --> 0:17:09.239 to thirty, and you borrored it for twenty, now you 0:17:09.320 --> 0:17:12.240 owe ten dollars per stock. So you can actually own 0:17:12.359 --> 0:17:16.080 infinite amount of money because stocks can theoretically go up 0:17:16.320 --> 0:17:19.200 as much as possible, you know. So that's what the 0:17:19.240 --> 0:17:21.919 game stoppers were trying to do, Like they're trying to 0:17:22.000 --> 0:17:26.080 force like Melvin Melvin Capital, that hedge fund in particular, 0:17:26.600 --> 0:17:29.440 to basically bankrupt because we're going. 0:17:29.359 --> 0:17:30.080 To make the stock. 0:17:30.240 --> 0:17:33.840 You you bought this stock for say five dollars a share, 0:17:33.920 --> 0:17:36.800 Melvin Capital by the time, like I mean, the last 0:17:37.040 --> 0:17:39.320 like the high sight saw the stock goal was four 0:17:39.400 --> 0:17:42.399 hundred and something dollars. That means they were for each 0:17:42.440 --> 0:17:44.440 stock they had in the hole for three. 0:17:44.280 --> 0:17:46.240 Hundred and fifty then fifty dollars. 0:17:46.320 --> 0:17:51.080 That's insane, literally billions of dollars in the hole because 0:17:51.119 --> 0:17:54.119 eventually you have to give back what you borrowed and 0:17:54.160 --> 0:17:56.159 pay what you said you were going to pay. 0:17:56.280 --> 0:17:58.040 You know what the stock is actually worth now? 0:17:58.280 --> 0:18:00.600 And if so many additional questions about this whole thing. 0:18:00.640 --> 0:18:03.000 I'm just but I don't want to get like into 0:18:03.040 --> 0:18:04.720 the weeds, weed weeds, and so it was, but I 0:18:04.720 --> 0:18:06.680 definitely want to know, like, man, how does this work? 0:18:06.800 --> 0:18:07.439 So you borrow? 0:18:07.600 --> 0:18:09.640 But does the bar work? Okay, I won't ask. 0:18:10.400 --> 0:18:12.600 But it was just crazy because and you know, so 0:18:12.720 --> 0:18:16.199 of course, you know, these poor, poor wealthy heads from 0:18:16.240 --> 0:18:20.240 people are like, oh, stock manipulation. Look, meanwhile, that's what 0:18:20.240 --> 0:18:23.560 they've been doing literally forever. But it's only stock manipulation 0:18:23.720 --> 0:18:26.800 when when Joe Schmos do it. But when they do 0:18:26.920 --> 0:18:28.800 it when they try to drive a company out of 0:18:28.840 --> 0:18:31.320 business so they can make money, it's all good. So 0:18:32.080 --> 0:18:34.280 you know, that's what happened. And so and sure enough 0:18:34.680 --> 0:18:38.720 Melvin Melvin capital that headphone and went out of business. 0:18:39.000 --> 0:18:41.520 They had to get three billion dollars, well they have 0:18:41.600 --> 0:18:43.480 to get three billion while they went out of business, 0:18:43.520 --> 0:18:46.080 but they had to get close to three billion dollars infused. 0:18:46.520 --> 0:18:49.399 And so at least for now, it looks like the 0:18:49.400 --> 0:18:53.439 Wall Street bets guys have like tentatively won and so 0:18:53.480 --> 0:18:57.840 now they're doing it for other stocks like AMC, the Theater, BlackBerry, 0:18:58.280 --> 0:18:59.960 and so they're looking. 0:18:59.720 --> 0:19:01.720 Some ecs back and beyond. 0:19:02.040 --> 0:19:05.320 Yes, so they're basically just like if you look at 0:19:05.359 --> 0:19:08.840 kind of like what they're saying, they're like, you can 0:19:08.880 --> 0:19:11.600 no longer make it that no one else can win 0:19:11.640 --> 0:19:15.440 but you, because that's what's been happening is that they're 0:19:15.480 --> 0:19:20.119 a handful of very wealthy, mostly white men that have 0:19:20.200 --> 0:19:23.760 controlled the market the up, the down, the side to side. 0:19:23.800 --> 0:19:25.720 They have done so in just in a way that 0:19:25.920 --> 0:19:26.600 just they win. 0:19:27.320 --> 0:19:29.920 And there are a group of other people who realize, 0:19:29.960 --> 0:19:32.160 you know what, there's only a handful of y'all. If 0:19:32.200 --> 0:19:35.439 we act in masks together, we can win. And so 0:19:35.560 --> 0:19:37.760 that's what they're trying to try to do. Now, some 0:19:37.800 --> 0:19:41.199 people literally I know somebody who like you know, invested 0:19:41.240 --> 0:19:43.359 five thousand dollars and got back a hundred and something thousand. 0:19:43.400 --> 0:19:46.240 I mean, people were making big bank off of this. Now. 0:19:46.359 --> 0:19:49.520 The thing about sure to remember it's or just even 0:19:48.880 --> 0:19:52.320 in an investing in this kind of speculative way, because 0:19:52.359 --> 0:19:54.399 let's be real, game stop is not worth four hundred 0:19:54.400 --> 0:19:55.639 and thirty something dollars. 0:19:55.680 --> 0:19:57.359