1
00:00:00,640 --> 00:00:03,080
Speaker 1: After twenty two years of being a titan on Wall

2
00:00:03,120 --> 00:00:06,360
Speaker 1: Street and start in his own firm, Tony Kasai is

3
00:00:06,440 --> 00:00:09,920
Speaker 1: walking away. What to said the Ugly side hook Being

4
00:00:09,960 --> 00:00:13,840
Speaker 1: and only inside, We'll interview insiders and other titans of

5
00:00:13,880 --> 00:00:17,680
Speaker 1: all types of industry, offering advice, sharing stories of a

6
00:00:17,840 --> 00:00:22,000
Speaker 1: first This is another episode the Inside Show.

7
00:00:22,880 --> 00:00:25,799
Speaker 2: Welcome to Cannabis Talk one on One's Financial Fridays with

8
00:00:25,880 --> 00:00:29,200
Speaker 2: the Inside investor Tony ka We're the world's number one

9
00:00:29,240 --> 00:00:30,920
Speaker 2: source for everything cannabis.

10
00:00:31,000 --> 00:00:34,479
Speaker 3: The information provided by Financial Friday and Tony Kasai is

11
00:00:34,520 --> 00:00:37,720
Speaker 3: for general information entertainment purposes only and should not be

12
00:00:37,800 --> 00:00:41,440
Speaker 3: considered as professional financial advice. Consult with the professional for

13
00:00:41,600 --> 00:00:44,040
Speaker 3: making any financial decisions. YO.

14
00:00:44,159 --> 00:00:45,640
Speaker 4: I don't know where you are, what you're doing, or

15
00:00:45,680 --> 00:00:46,879
Speaker 4: what day of the week it is for you, But

16
00:00:47,040 --> 00:00:49,440
Speaker 4: over here at the CET one on one iHeart Studios,

17
00:00:49,479 --> 00:00:52,040
Speaker 4: it is Financial Fridays for us ladies and gentlemen. I'm

18
00:00:52,080 --> 00:00:53,640
Speaker 4: your host, Tony Kay, and I'm here to get your

19
00:00:53,680 --> 00:00:54,840
Speaker 4: mind right and your money games.

20
00:00:54,880 --> 00:00:55,000
Speaker 3: Hi.

21
00:00:55,320 --> 00:00:57,440
Speaker 4: Feel free to leave me a financial question anytime at

22
00:00:57,480 --> 00:01:00,760
Speaker 4: What eighthund four twenty nineteen eighty. You can also connect

23
00:01:00,800 --> 00:01:03,360
Speaker 4: with me directly on Instagram at the inside investor and

24
00:01:03,360 --> 00:01:05,000
Speaker 4: of course you all know that my number one rule

25
00:01:05,000 --> 00:01:06,840
Speaker 4: of money is that your health is your wealth. You

26
00:01:06,840 --> 00:01:09,240
Speaker 4: can't be wealthy if you're not healthy. That's why I

27
00:01:09,240 --> 00:01:11,320
Speaker 4: want to, of course talk about my friends overt Rising

28
00:01:11,360 --> 00:01:14,600
Speaker 4: Tide Benefits you guys. This is an insurance healthcare platform.

29
00:01:14,959 --> 00:01:17,680
Speaker 4: It is dedicated to not just the cannabis community, but

30
00:01:17,840 --> 00:01:20,960
Speaker 4: anybody that still wants healthcare coverage. It is a misconception

31
00:01:21,080 --> 00:01:23,319
Speaker 4: that you are out if you did not apply by

32
00:01:23,400 --> 00:01:25,720
Speaker 4: January or first. These guys can get you covered. All

33
00:01:25,720 --> 00:01:27,600
Speaker 4: it takes is one quick phone call to them set

34
00:01:27,680 --> 00:01:30,000
Speaker 4: up an amployment. They got three options free and they're

35
00:01:30,040 --> 00:01:31,400
Speaker 4: all free. The first one is they're going to tell

36
00:01:31,400 --> 00:01:33,720
Speaker 4: you're in good hands and the great insurance so that

37
00:01:33,800 --> 00:01:35,480
Speaker 4: they can't beat. At number two, they're going to tell

38
00:01:35,480 --> 00:01:37,080
Speaker 4: you that they're going to give you more insurance at

39
00:01:37,080 --> 00:01:39,319
Speaker 4: a cheaper price. And number three they're going to tell

40
00:01:39,319 --> 00:01:41,440
Speaker 4: you that they got you covered for sure. Give them

41
00:01:41,480 --> 00:01:44,040
Speaker 4: a call over at Rising Tide beeenefits dot com bettery,

42
00:01:44,160 --> 00:01:45,880
Speaker 4: I give them a call two one four four four

43
00:01:46,000 --> 00:01:49,760
Speaker 4: six fifty three hundred. Now, ladies and gentlemen, last Friday,

44
00:01:49,800 --> 00:01:52,640
Speaker 4: we were off air because the guys here were celebrating

45
00:01:52,680 --> 00:01:55,080
Speaker 4: four twenty. We had an amazing show with the Hulu

46
00:01:55,160 --> 00:01:58,720
Speaker 4: casts of the new show called High Hopes. Right man,

47
00:01:58,960 --> 00:02:01,560
Speaker 4: it's it's a nominal cast and crew. We had some

48
00:02:01,600 --> 00:02:04,200
Speaker 4: good times with them out in LA looking forward to

49
00:02:04,240 --> 00:02:07,000
Speaker 4: them getting renewed for a second season totally and they've

50
00:02:07,000 --> 00:02:08,679
Speaker 4: become good friends of the show now looking forward to

51
00:02:08,680 --> 00:02:11,000
Speaker 4: having some of the cast members on the show. But today,

52
00:02:11,080 --> 00:02:15,200
Speaker 4: ladies and gentlemen. After much persuasion from my podcast Papa

53
00:02:15,240 --> 00:02:17,440
Speaker 4: Joe Grande, He's like, Tony, you're the financial guy. Why

54
00:02:17,480 --> 00:02:20,280
Speaker 4: are you not talking about, you know, cannabis stocks or

55
00:02:20,280 --> 00:02:23,000
Speaker 4: stocks in general, or just the overall economy. And I

56
00:02:23,080 --> 00:02:25,600
Speaker 4: have three or four really big hot button topics that

57
00:02:25,600 --> 00:02:28,160
Speaker 4: have been in the news here in the past week.

58
00:02:28,160 --> 00:02:30,919
Speaker 4: Connor and I wanted to invite my good friend Connor

59
00:02:30,960 --> 00:02:32,960
Speaker 4: to the show. He's our sound engineer over here at

60
00:02:32,960 --> 00:02:35,960
Speaker 4: Cannabis Talk one on one. He's one of our superstars.

61
00:02:36,280 --> 00:02:38,760
Speaker 4: And this young man, you know, in addition to traveling

62
00:02:38,800 --> 00:02:42,440
Speaker 4: the globe being a professional semi professional professional soccer player,

63
00:02:42,720 --> 00:02:44,880
Speaker 4: you know what I'm saying. Before he hurt himself or

64
00:02:45,360 --> 00:02:48,000
Speaker 4: just decided he wanted to get something different. Yep, yep,

65
00:02:48,240 --> 00:02:49,280
Speaker 4: switched it up, pivoted.

66
00:02:49,440 --> 00:02:52,880
Speaker 3: Luckily he as COVID happened like right after, so I

67
00:02:52,880 --> 00:02:55,320
Speaker 3: would have been stuck abroad anyway and not been able

68
00:02:55,360 --> 00:02:55,680
Speaker 3: to play.

69
00:02:55,760 --> 00:02:56,400
Speaker 5: So it worked out.

70
00:02:56,480 --> 00:02:58,480
Speaker 4: It's all mad to be And you know, if you

71
00:02:58,520 --> 00:03:00,440
Speaker 4: guys listen to the main show, here on to talk

72
00:03:00,480 --> 00:03:03,600
Speaker 4: one on one. Connor's dived into some really good interesting topics.

73
00:03:03,639 --> 00:03:05,440
Speaker 4: I love his feedback and that's why I wanted to

74
00:03:05,440 --> 00:03:07,359
Speaker 4: invite him on the show. But today I want to

75
00:03:07,360 --> 00:03:08,840
Speaker 4: talk about a couple of topics. I'm gonna tell you

76
00:03:08,840 --> 00:03:10,760
Speaker 4: what we're going to talk about, Connor. First thing is,

77
00:03:10,800 --> 00:03:13,760
Speaker 4: the Federal Trade Commission has announced that non competes are

78
00:03:13,800 --> 00:03:17,480
Speaker 4: going to be basically banned going forward nationwide. It's a

79
00:03:17,600 --> 00:03:19,600
Speaker 4: huge thing and for most of you that are employees

80
00:03:19,720 --> 00:03:21,880
Speaker 4: or employers, I want to dive into that. I want

81
00:03:21,880 --> 00:03:23,440
Speaker 4: to get your opinion on it, and then I'm going

82
00:03:23,480 --> 00:03:25,280
Speaker 4: to give you my take. I want to talk about

83
00:03:25,280 --> 00:03:28,880
Speaker 4: the Crypto Banking Center and now the Crypto Banking Act

84
00:03:29,040 --> 00:03:32,320
Speaker 4: that's coming out through Congress. Now they're talking about tying

85
00:03:32,320 --> 00:03:34,560
Speaker 4: that into the FAA. Believe it or not, the Federal

86
00:03:34,600 --> 00:03:38,160
Speaker 4: Aviation Commission. But it's some crazy shit that Congress does

87
00:03:38,360 --> 00:03:40,400
Speaker 4: to combine different bills to make sure that one of

88
00:03:40,440 --> 00:03:42,520
Speaker 4: them either dies or that they both pass. But it's

89
00:03:42,560 --> 00:03:45,440
Speaker 4: something that I think will affect everybody, whether you are

90
00:03:45,440 --> 00:03:48,600
Speaker 4: in cannabis or not, especially from the crypto aspect. And

91
00:03:48,600 --> 00:03:50,480
Speaker 4: then I also want to talk about till ray Stock.

92
00:03:50,520 --> 00:03:52,400
Speaker 4: This is a Canadian company. It seems like any one

93
00:03:52,400 --> 00:03:56,280
Speaker 4: of my friends, colleagues, clients, former clients who hit me up,

94
00:03:56,280 --> 00:03:57,720
Speaker 4: They're like, what do you think of this stock? What

95
00:03:57,720 --> 00:03:59,080
Speaker 4: do you And I've been hearing about it for so

96
00:03:59,120 --> 00:04:01,600
Speaker 4: many times for so long now that I do want

97
00:04:01,600 --> 00:04:03,880
Speaker 4: to dive into give you my viewpoints on it and

98
00:04:04,320 --> 00:04:06,760
Speaker 4: hear your feedback as well, because I know you're very

99
00:04:06,840 --> 00:04:09,360
Speaker 4: interested in the space. Sure we've got allowed to cover. Man,

100
00:04:09,360 --> 00:04:11,240
Speaker 4: I'm going to dive right into now the FDC con.

101
00:04:11,280 --> 00:04:13,880
Speaker 4: I'm going to tell you the exact ruling. What they're doing.

102
00:04:14,440 --> 00:04:17,000
Speaker 4: Our final rule will generate suppose that this is their

103
00:04:17,040 --> 00:04:19,039
Speaker 4: spin on it. It's going to create eighty five hundred

104
00:04:19,080 --> 00:04:22,000
Speaker 4: new businesses each year, it's going to raise worker wages,

105
00:04:22,200 --> 00:04:25,480
Speaker 4: and it's going to a lower healthcare costs and boost innovation.

106
00:04:25,600 --> 00:04:28,039
Speaker 4: Now that's the spin. And as you know, you know,

107
00:04:28,040 --> 00:04:30,640
Speaker 4: we've gone down many rabbit holes here on my show.

108
00:04:31,040 --> 00:04:33,440
Speaker 4: But every time they tell me something's good for me,

109
00:04:33,880 --> 00:04:36,240
Speaker 4: I immediately think, okay, they're lying to me, or there's a

110
00:04:36,279 --> 00:04:38,360
Speaker 4: different agenda. Now here's the take on it. For most

111
00:04:38,400 --> 00:04:41,760
Speaker 4: of you that does that don't that doesn't understand what

112
00:04:41,800 --> 00:04:45,200
Speaker 4: a non compete is is basically if you're an employee, right, So,

113
00:04:45,200 --> 00:04:47,360
Speaker 4: if you're an employee here off Cannabis talk one on one,

114
00:04:47,480 --> 00:04:49,200
Speaker 4: and we wanted to put you on a non compete,

115
00:04:49,200 --> 00:04:51,800
Speaker 4: we would say, hey, you cannot work in any capacity

116
00:04:51,839 --> 00:04:54,400
Speaker 4: with any media firm for the next three years for example. Yep,

117
00:04:54,480 --> 00:04:56,560
Speaker 4: Now this is an at Weal agreement. We didn't hold

118
00:04:56,560 --> 00:04:57,960
Speaker 4: a gun to your head, but you would have signed

119
00:04:58,000 --> 00:05:00,560
Speaker 4: a contract that then allows me to come after you

120
00:05:00,839 --> 00:05:03,240
Speaker 4: if all of a sudden you go work for a

121
00:05:03,360 --> 00:05:05,840
Speaker 4: competing media company. I don't even know who would be

122
00:05:05,839 --> 00:05:08,000
Speaker 4: bigger than us, But if that's what you were going

123
00:05:08,080 --> 00:05:10,240
Speaker 4: to do, Now, the position that that puts me in

124
00:05:10,360 --> 00:05:12,839
Speaker 4: is it allows me to protect my trade secrets. Right

125
00:05:13,040 --> 00:05:15,279
Speaker 4: if you had a secret sauce here that we're doing,

126
00:05:15,520 --> 00:05:16,640
Speaker 4: and all of a sudden you want to go to

127
00:05:16,640 --> 00:05:18,480
Speaker 4: my competitor, maybe you were going to take a job

128
00:05:18,520 --> 00:05:21,240
Speaker 4: here from us just to find everything out that we're doing,

129
00:05:21,240 --> 00:05:23,279
Speaker 4: so you could take it somewhere else. Right, So the

130
00:05:23,400 --> 00:05:26,440
Speaker 4: non competes is not something that's designed to hold a

131
00:05:26,480 --> 00:05:30,320
Speaker 4: little man down, but it was created with capitalism, with

132
00:05:30,400 --> 00:05:32,160
Speaker 4: the thought process that hey, if you want to work

133
00:05:32,200 --> 00:05:33,960
Speaker 4: for us, here's the parameters. If you don't like it,

134
00:05:34,000 --> 00:05:37,120
Speaker 4: go work some wells. So I don't know what your

135
00:05:37,120 --> 00:05:42,600
Speaker 4: opinion or anybody else could argue against this because to me, capitalism,

136
00:05:42,680 --> 00:05:46,159
Speaker 4: like right now, every time new legislation, new regulation, new

137
00:05:47,040 --> 00:05:49,440
Speaker 4: just rules come out. I'm not a big fan of rules.

138
00:05:49,600 --> 00:05:51,200
Speaker 3: Yeah, and it seems like it's a bit of a

139
00:05:51,240 --> 00:05:57,200
Speaker 3: blanket ruling where you know, it's not quite hitting certain

140
00:05:57,240 --> 00:06:00,440
Speaker 3: stipulations that may be good or bad for a non

141
00:06:00,480 --> 00:06:04,359
Speaker 3: compete agreement. Like I was reading some reactions of the

142
00:06:04,400 --> 00:06:10,520
Speaker 3: whole ruling, and you know there's people who were you know,

143
00:06:10,880 --> 00:06:12,880
Speaker 3: stuck at a certain job and they weren't able to

144
00:06:12,920 --> 00:06:15,960
Speaker 3: quit do non compete agreements, and like, you know, the

145
00:06:16,000 --> 00:06:19,160
Speaker 3: reaction from the government is that, you know that I

146
00:06:19,200 --> 00:06:20,680
Speaker 3: think they want to keep the They.

147
00:06:20,560 --> 00:06:22,680
Speaker 4: Would prefer to keep the no compete agreement.

148
00:06:24,680 --> 00:06:27,920
Speaker 3: But you know, ultimately, you know, like I said, I

149
00:06:27,960 --> 00:06:30,320
Speaker 3: think it's just too general of a ruling for the

150
00:06:30,360 --> 00:06:32,440
Speaker 3: whole that whole scenario.

151
00:06:32,839 --> 00:06:34,680
Speaker 4: It's too general. And then and then you know, the

152
00:06:34,720 --> 00:06:37,400
Speaker 4: spin on it is is that it's creating more jobs,

153
00:06:37,440 --> 00:06:40,680
Speaker 4: with the thought process being that if I was if

154
00:06:40,680 --> 00:06:43,320
Speaker 4: you weren't happy here and you had a non compete,

155
00:06:43,680 --> 00:06:46,599
Speaker 4: I'm stopping you from going and starting your own company.

156
00:06:46,640 --> 00:06:48,960
Speaker 4: I'm stopping you from going and getting another job. So

157
00:06:49,080 --> 00:06:52,400
Speaker 4: this argument is that you know, it's stifling job creation.

158
00:06:52,960 --> 00:06:55,880
Speaker 4: Where the alternative to that is they've carved out now

159
00:06:55,920 --> 00:06:58,640
Speaker 4: to your point, it's very broad. They did carve out

160
00:06:58,640 --> 00:07:00,320
Speaker 4: that if you make over I believe it's like about

161
00:07:00,320 --> 00:07:02,720
Speaker 4: one hundred and ninety thousand dollars you're exempt from that.

162
00:07:03,080 --> 00:07:05,640
Speaker 4: The rule has about one hundred and eighty day grandfather period,

163
00:07:05,680 --> 00:07:07,479
Speaker 4: there's a there's a ninety day. There's a lot of

164
00:07:07,480 --> 00:07:11,160
Speaker 4: little restrictions on it. The Chamber of Commerce, which is

165
00:07:11,200 --> 00:07:15,000
Speaker 4: a very some would say liberal organization that everybody knows

166
00:07:15,000 --> 00:07:16,760
Speaker 4: who the Chamber is. If you've been a business owner,

167
00:07:16,840 --> 00:07:18,440
Speaker 4: you get this letter that says, hey be a member

168
00:07:18,480 --> 00:07:21,000
Speaker 4: of the Chamber of Commerce. They're actually suing the FTC

169
00:07:21,480 --> 00:07:23,400
Speaker 4: and they're standing up and say, no, this is not true.

170
00:07:23,440 --> 00:07:25,800
Speaker 4: This is going to stifle competition, this is going to

171
00:07:25,840 --> 00:07:29,320
Speaker 4: create In my opinion, yeah, man, I think for me

172
00:07:29,360 --> 00:07:31,720
Speaker 4: as a business owner, I think the thing that freaks

173
00:07:31,720 --> 00:07:33,680
Speaker 4: me out the most is he now the government's again

174
00:07:33,720 --> 00:07:36,600
Speaker 4: getting into your business telling you how you can hire

175
00:07:36,600 --> 00:07:40,760
Speaker 4: your employees. Right, if this was an exploitative ruling or

176
00:07:40,800 --> 00:07:44,560
Speaker 4: practice that you know, allows me to hold somebody hostage,

177
00:07:44,760 --> 00:07:47,280
Speaker 4: or you know, I forced you to sign this contract

178
00:07:47,320 --> 00:07:49,360
Speaker 4: after you were hired, I can understand that we've got

179
00:07:49,400 --> 00:07:52,440
Speaker 4: to protect you know, the employees. But if this is

180
00:07:52,520 --> 00:07:55,280
Speaker 4: an atual employment where you came in with full knowledge,

181
00:07:55,880 --> 00:07:58,600
Speaker 4: and of course they carve out industries that are in

182
00:07:58,640 --> 00:08:02,160
Speaker 4: their benefit, you know, aerosp civil defense, et cetera, of

183
00:08:02,160 --> 00:08:03,640
Speaker 4: course they're going to figure out a way to carve

184
00:08:03,680 --> 00:08:07,120
Speaker 4: out and protect their donors of whoever's funding Congress at

185
00:08:07,120 --> 00:08:09,640
Speaker 4: any given time. But every time I see a new

186
00:08:09,720 --> 00:08:12,080
Speaker 4: ruling and legislation like this, I'm like, all right, what's

187
00:08:12,120 --> 00:08:15,800
Speaker 4: the agenda? What bullshit are they putting on the business owner?

188
00:08:16,160 --> 00:08:19,640
Speaker 4: And they're stifling you know, especially here in California, they're

189
00:08:19,800 --> 00:08:21,880
Speaker 4: just suffocating business owners to death.

190
00:08:22,000 --> 00:08:25,880
Speaker 3: Crazy it's a sad landscape in California right now. Like

191
00:08:25,960 --> 00:08:29,040
Speaker 3: a lot of people obviously don't live here to see it,

192
00:08:29,120 --> 00:08:31,120
Speaker 3: but you know, you got a lot of businesses closing,

193
00:08:31,160 --> 00:08:34,320
Speaker 3: a lot of industries are failing, Big cities aren't doing

194
00:08:34,360 --> 00:08:39,320
Speaker 3: too hot right now, so it's definitely bleak at the moment.

195
00:08:40,360 --> 00:08:43,400
Speaker 4: Now, the final rule will become effective in about one

196
00:08:43,440 --> 00:08:46,600
Speaker 4: hundred and twenty days, it looks like after publication, and

197
00:08:46,679 --> 00:08:49,880
Speaker 4: once it's effective again there is a grandfather period for

198
00:08:49,960 --> 00:08:53,520
Speaker 4: people that have already signed it. I've read conflicting. I

199
00:08:53,520 --> 00:08:55,720
Speaker 4: mean again, the guys, this thing just came out yesterday,

200
00:08:56,080 --> 00:08:58,480
Speaker 4: and the number that I quoted earlier, it's actually one

201
00:08:58,559 --> 00:09:03,400
Speaker 4: hundred and fifty one hundred four dollars of earners that

202
00:09:03,440 --> 00:09:06,400
Speaker 4: are exempt from this ruling. And it's interesting how they

203
00:09:06,440 --> 00:09:10,760
Speaker 4: did that, right, because arguably the guy who is the

204
00:09:10,800 --> 00:09:14,959
Speaker 4: CEO or a vice president making a couple hundred thousand year,

205
00:09:15,120 --> 00:09:19,599
Speaker 4: he's exempt. Yeah, and this ruling is here to supposedly

206
00:09:19,679 --> 00:09:24,040
Speaker 4: protect the smaller employees and create more jobs. But your

207
00:09:24,120 --> 00:09:27,680
Speaker 4: typical employee who's making fifty sixty thousand a year, he's

208
00:09:27,720 --> 00:09:29,679
Speaker 4: not going out and trying to start his own company.

209
00:09:29,760 --> 00:09:30,400
Speaker 4: You know what I'm saying.

210
00:09:30,559 --> 00:09:33,800
Speaker 3: The CEO has the you know, aspiration exactly go and

211
00:09:33,840 --> 00:09:35,680
Speaker 3: do that, and they have the wherewith all the knowledge

212
00:09:35,720 --> 00:09:37,920
Speaker 3: and all that, it's an easy pivot for them, essentially,

213
00:09:38,120 --> 00:09:38,520
Speaker 3: thank you.

214
00:09:38,720 --> 00:09:41,400
Speaker 4: Yeah. So that that's the contradictions that I'm seeing, and it,

215
00:09:41,520 --> 00:09:43,400
Speaker 4: you know, after reading it a couple of times, I'm

216
00:09:43,440 --> 00:09:45,960
Speaker 4: seeing several of these contradictions where it's like, all right,

217
00:09:45,960 --> 00:09:48,880
Speaker 4: if this is supposed to create new job opportunities that

218
00:09:48,920 --> 00:09:51,600
Speaker 4: would involve somebody starting a company, taking a risk and

219
00:09:51,640 --> 00:09:54,080
Speaker 4: starting a new business, but the guys who are making

220
00:09:54,120 --> 00:09:56,560
Speaker 4: the big bucks are exempt from this. So you I

221
00:09:56,679 --> 00:09:59,480
Speaker 4: can you know, lock in some of my higher level,

222
00:09:59,480 --> 00:10:03,160
Speaker 4: sea level executives, but I cannot lock in my lower employees.

223
00:10:03,640 --> 00:10:06,000
Speaker 4: And quite frankly, I would not be surprised if I

224
00:10:06,080 --> 00:10:09,640
Speaker 4: really had the time, energy, or just sold to go

225
00:10:09,720 --> 00:10:12,400
Speaker 4: down to another rabbit hole. I would not be surprised

226
00:10:12,840 --> 00:10:17,360
Speaker 4: if large groups of law firms and legal lobbyists are

227
00:10:17,400 --> 00:10:20,600
Speaker 4: behind this, because I'm already seeing that this is going

228
00:10:20,600 --> 00:10:25,480
Speaker 4: to create massive legalities around trade secrets. Because while it's while,

229
00:10:25,480 --> 00:10:29,080
Speaker 4: it's now going to become supposedly illegal for me to

230
00:10:29,120 --> 00:10:31,600
Speaker 4: lock you in under a non compete. What it's not

231
00:10:31,760 --> 00:10:34,080
Speaker 4: doing is allowing me to say, Okay, well you've also

232
00:10:34,120 --> 00:10:36,360
Speaker 4: signed something that says you won't take any of our

233
00:10:36,400 --> 00:10:39,040
Speaker 4: clients or trade secrets and blah blah blah. Right, so

234
00:10:39,120 --> 00:10:41,960
Speaker 4: I can still enforce that, but I can't stop you

235
00:10:42,000 --> 00:10:44,640
Speaker 4: from going and working for somebody else. Well, guess what's

236
00:10:44,640 --> 00:10:47,560
Speaker 4: going to happen. You're going to go work for another

237
00:10:47,640 --> 00:10:50,040
Speaker 4: media company in this example, right, You're going to take

238
00:10:50,080 --> 00:10:53,400
Speaker 4: a rollodex of our clients, you know, contacts, et cetera,

239
00:10:53,720 --> 00:10:55,120
Speaker 4: and all of a sudden you're going to exploit that.

240
00:10:55,160 --> 00:10:57,640
Speaker 4: And now I'm going to create lawsuits after you, your company,

241
00:10:57,679 --> 00:11:00,640
Speaker 4: your law firm. The mortgage industry is massive in this right.

242
00:11:00,720 --> 00:11:03,120
Speaker 4: It's a very you know, they steal from not steal

243
00:11:03,120 --> 00:11:06,679
Speaker 4: from each other, but they recruit, you know, books of business.

244
00:11:06,679 --> 00:11:08,440
Speaker 4: So if you're a really top dog at a mortgage

245
00:11:08,480 --> 00:11:11,640
Speaker 4: company and I'm Rocket Mortgage, I want you to come

246
00:11:11,640 --> 00:11:13,959
Speaker 4: over and bring your four thousand people that you've done

247
00:11:14,000 --> 00:11:16,800
Speaker 4: refives for in the past twenty years. And there's and

248
00:11:16,840 --> 00:11:19,720
Speaker 4: there's been massive lawsuits where people have gone and done

249
00:11:19,720 --> 00:11:22,160
Speaker 4: this under the radar, they get caught and there's ten

250
00:11:22,240 --> 00:11:25,119
Speaker 4: twenty million a lot of lawsuits not just against that employee,

251
00:11:25,280 --> 00:11:28,160
Speaker 4: but the company that recruited them, because that company, you know,

252
00:11:28,200 --> 00:11:32,119
Speaker 4: there's email documentation encouraging that. So I wouldn't be surprised.

253
00:11:32,120 --> 00:11:36,920
Speaker 4: And again this is pure speculation that this is really

254
00:11:36,960 --> 00:11:39,720
Speaker 4: a way a for the government to just again have

255
00:11:39,800 --> 00:11:42,920
Speaker 4: another hand on the small business owner or even large

256
00:11:42,960 --> 00:11:47,360
Speaker 4: business owner, getting another rule legislation in. But more importantly,

257
00:11:47,360 --> 00:11:50,000
Speaker 4: I think it's just going to create more frivolous lawsuits,

258
00:11:50,000 --> 00:11:52,000
Speaker 4: going to create tie up the courts more. And I

259
00:11:52,160 --> 00:11:54,720
Speaker 4: just you know, i'd love to be proven wrong. If

260
00:11:54,760 --> 00:11:57,480
Speaker 4: somebody has some of the different viewpoint, please call, leave

261
00:11:57,520 --> 00:11:59,960
Speaker 4: me a message whatever. I'd love to I'm open mind

262
00:12:00,240 --> 00:12:01,800
Speaker 4: on this when I'm not locked in. But I'm just

263
00:12:01,880 --> 00:12:03,800
Speaker 4: looking at it. And they didn't do this out of

264
00:12:03,800 --> 00:12:06,080
Speaker 4: the kindness of our hearts, you know, to say that

265
00:12:06,200 --> 00:12:08,720
Speaker 4: it's going to create and this is straight from the

266
00:12:08,840 --> 00:12:11,920
Speaker 4: FTC's website, that it is going to create eighty five

267
00:12:12,000 --> 00:12:14,520
Speaker 4: hundred new businesses each year, or they get that metric

268
00:12:14,559 --> 00:12:16,679
Speaker 4: from you that that didn't even sound like a lot.

269
00:12:16,720 --> 00:12:18,439
Speaker 4: To be honest with you do to eighty five hundred

270
00:12:18,440 --> 00:12:20,120
Speaker 4: out of a country of three hundred and fifty million people,

271
00:12:20,280 --> 00:12:21,679
Speaker 4: you know what I mean, Like it just it just

272
00:12:21,720 --> 00:12:24,360
Speaker 4: seems like they're throwing a bunch of crap out there.

273
00:12:24,679 --> 00:12:27,000
Speaker 4: And I wouldn't be surprised if if there's a lot

274
00:12:27,000 --> 00:12:30,000
Speaker 4: of back end information here. So so you're on board

275
00:12:30,000 --> 00:12:32,320
Speaker 4: with this, then you you were in alignment in terms

276
00:12:32,360 --> 00:12:33,720
Speaker 4: of how I'm looking at it, or it might being

277
00:12:33,760 --> 00:12:36,280
Speaker 4: an asshole looking at it from a top wager and earner.

278
00:12:36,440 --> 00:12:41,320
Speaker 3: No, I agree, I mean it you know, just you know,

279
00:12:41,360 --> 00:12:43,920
Speaker 3: another mode of control. Yeah, you know, and it just

280
00:12:43,960 --> 00:12:48,120
Speaker 3: looks like a shitty elevator pitch being delivered. Yeah, when

281
00:12:48,120 --> 00:12:50,040
Speaker 3: you look at it and you know what they're proposing,

282
00:12:50,280 --> 00:12:52,760
Speaker 3: So you know, I agree.

283
00:12:52,840 --> 00:12:54,720
Speaker 5: I think it's kind of blame.

284
00:12:54,800 --> 00:12:57,160
Speaker 4: Well and then you know, the final point on this

285
00:12:57,360 --> 00:13:00,160
Speaker 4: and then I think we could move on is if

286
00:13:00,200 --> 00:13:03,680
Speaker 4: it's truly you know, big brother Congress, the government looking

287
00:13:03,760 --> 00:13:07,040
Speaker 4: out for us. It's like, dude, you spent three years

288
00:13:07,040 --> 00:13:10,560
Speaker 4: destroying businesses during the last you know situation here here

289
00:13:10,600 --> 00:13:13,920
Speaker 4: we had those controversial and you've destroyed all these businesses

290
00:13:13,960 --> 00:13:16,120
Speaker 4: you didn't give a shit about. You've raised taxes on

291
00:13:16,240 --> 00:13:18,200
Speaker 4: business owners, so all of that was okay.

292
00:13:18,400 --> 00:13:19,800
Speaker 5: Then why is it going to change now?

293
00:13:20,040 --> 00:13:21,839
Speaker 4: Exactly, and now all of a sudden, out of the

294
00:13:21,840 --> 00:13:23,480
Speaker 4: goodness of your heart, you're trying to create eighty five

295
00:13:23,559 --> 00:13:26,640
Speaker 4: hundred new businesses each year. So yeah, guys, I mean

296
00:13:26,679 --> 00:13:28,760
Speaker 4: read between the lines. If you've listened to the show,

297
00:13:28,800 --> 00:13:30,920
Speaker 4: you know that my one of my things. Just ask questions.

298
00:13:31,000 --> 00:13:33,920
Speaker 4: Ask the hard questions. Don't just get spoon fed information,

299
00:13:34,000 --> 00:13:37,600
Speaker 4: and you'd be surprised at how just really understanding that

300
00:13:37,640 --> 00:13:40,800
Speaker 4: what you're reading and seeing, whether however you're consuming your

301
00:13:40,880 --> 00:13:44,640
Speaker 4: news and your knowledge about your money, you know, dive

302
00:13:44,920 --> 00:13:47,160
Speaker 4: in a little bit deeper. Talk to business owners. If

303
00:13:47,200 --> 00:13:49,440
Speaker 4: you're an employee thinking this is a great idea, talk

304
00:13:49,440 --> 00:13:52,199
Speaker 4: to some business owners, you know, look at their viewpoint

305
00:13:52,240 --> 00:13:53,960
Speaker 4: and kind of look at the other aspect of this

306
00:13:54,000 --> 00:13:56,920
Speaker 4: and ask yourself, why would the government be making this ruling.

307
00:13:56,960 --> 00:13:58,920
Speaker 4: So it'll be interesting to see what happens. I think

308
00:13:58,920 --> 00:14:01,000
Speaker 4: it's going to be challenging the sport. It's going to

309
00:14:01,000 --> 00:14:02,720
Speaker 4: be something that's going to play out here in next

310
00:14:02,720 --> 00:14:04,360
Speaker 4: three to six months. And I'd love to come back

311
00:14:04,360 --> 00:14:06,880
Speaker 4: to this episode and revisit it. But my prediction on

312
00:14:06,920 --> 00:14:08,920
Speaker 4: this is that it's going to go through. I think

313
00:14:08,920 --> 00:14:10,920
Speaker 4: it's going to have minimal changes in it. They'll probably

314
00:14:10,920 --> 00:14:13,200
Speaker 4: tweak the numbers a little bit, and I would not

315
00:14:13,320 --> 00:14:17,040
Speaker 4: be surprised if there's a flood flood of lawsuits that

316
00:14:17,120 --> 00:14:19,760
Speaker 4: attack not just this ruling, but after this ruling gets

317
00:14:19,840 --> 00:14:22,560
Speaker 4: challenged and probably gets enforced, that it's going to create

318
00:14:22,560 --> 00:14:25,520
Speaker 4: a flood of lawsuits around mortgage companies, real estate companies,

319
00:14:25,680 --> 00:14:28,600
Speaker 4: financial services companies. I mean, I remember when I was

320
00:14:29,080 --> 00:14:31,840
Speaker 4: the last big firm. I worked at UBS and Morgan Stanley.

321
00:14:32,080 --> 00:14:34,760
Speaker 4: You know, I was on a seven year contract for

322
00:14:35,000 --> 00:14:37,600
Speaker 4: my signing bonuses and if I left halfway through, I

323
00:14:37,840 --> 00:14:40,640
Speaker 4: a million dollars back, you know. So, so all of

324
00:14:40,680 --> 00:14:43,520
Speaker 4: those it'll be interesting to see how they're enforced. The

325
00:14:43,600 --> 00:14:46,320
Speaker 4: other thing I'd love to find out is who funded

326
00:14:46,600 --> 00:14:47,440
Speaker 4: the lobbying of this.

327
00:14:47,880 --> 00:14:49,560
Speaker 3: Yeah, I was going to ask what was the build

328
00:14:49,640 --> 00:14:53,160
Speaker 3: up in, Like who is the one heading this whole situation?

329
00:14:53,320 --> 00:14:54,080
Speaker 4: Like do we know?

330
00:14:54,320 --> 00:14:56,120
Speaker 5: Is it public information yet?

331
00:14:56,600 --> 00:14:58,240
Speaker 4: Well, that's one of the reasons I love you when

332
00:14:58,280 --> 00:15:00,000
Speaker 4: you're not just up here on your back there, because

333
00:15:00,120 --> 00:15:01,880
Speaker 4: you always are able to dig this stuff up in

334
00:15:01,880 --> 00:15:04,680
Speaker 4: real time. But I also like the free flow conversation

335
00:15:04,760 --> 00:15:06,160
Speaker 4: that you bring to the table. So I didn't do

336
00:15:06,240 --> 00:15:08,120
Speaker 4: that background but I will have that answer for you,

337
00:15:08,400 --> 00:15:11,640
Speaker 4: but I will and that sometimes it's not apparent right,

338
00:15:11,680 --> 00:15:14,920
Speaker 4: it'll be like CLC consulting and lobby for them. Then

339
00:15:14,920 --> 00:15:17,240
Speaker 4: you really got to go down and dive the follow

340
00:15:17,280 --> 00:15:19,480
Speaker 4: the money, honor the money and who funded that, who

341
00:15:19,640 --> 00:15:22,560
Speaker 4: lobbied for it, and who paid for it. So that's

342
00:15:22,600 --> 00:15:24,280
Speaker 4: my take on the FDC. Guys, you're going to see

343
00:15:24,280 --> 00:15:26,120
Speaker 4: this lot in the news. We'll be right back here

344
00:15:26,280 --> 00:15:29,280
Speaker 4: on Financial Fridays CT one on one Iet Radio.

345
00:15:29,360 --> 00:15:31,760
Speaker 2: We'll be right back, so we'll be right back with

346
00:15:31,840 --> 00:15:35,000
Speaker 2: the Financial Friday five on Cannabis Talk one on one's

347
00:15:35,040 --> 00:15:46,320
Speaker 2: Financial Fridays with the Insider Investor Tony K. Welcome back

348
00:15:46,360 --> 00:15:49,520
Speaker 2: to Cannabis Talk one on one's Financial Fridays with the

349
00:15:49,560 --> 00:15:53,440
Speaker 2: Insider Investor Tony K. It's now time for the Financial

350
00:15:53,520 --> 00:15:54,240
Speaker 2: Friday five.

351
00:15:54,320 --> 00:15:56,440
Speaker 4: You never find yourself caught up and you need a lawyer,

352
00:15:56,520 --> 00:15:59,040
Speaker 4: you guys, give my friends Freddy Sage a call. Man.

353
00:15:59,080 --> 00:16:00,840
Speaker 4: This is the attorney that you want to handle your

354
00:16:00,840 --> 00:16:04,880
Speaker 4: criminal defense, cannabis law, entertainment law, any kind of law needs.

355
00:16:04,960 --> 00:16:06,560
Speaker 4: He's going to take care of you, guys. Give him

356
00:16:06,560 --> 00:16:08,640
Speaker 4: a call. He's over at the Fox Firm. That's with

357
00:16:08,760 --> 00:16:13,240
Speaker 4: two exes the Foxfirm dot Com. He's Sky's covered and

358
00:16:13,360 --> 00:16:15,280
Speaker 4: not just that, guys. And you know this isn't just

359
00:16:15,440 --> 00:16:17,840
Speaker 4: a promotional read, but Freddy's just been a good friend

360
00:16:17,880 --> 00:16:19,960
Speaker 4: of the show. He's helped a lot of people here

361
00:16:20,000 --> 00:16:21,440
Speaker 4: at the show, a lot of my friends, for a

362
00:16:21,480 --> 00:16:24,560
Speaker 4: lot of our mutual clients. But he's somebody that that

363
00:16:24,640 --> 00:16:27,480
Speaker 4: I trust in explicitly, and if you ever have that need,

364
00:16:27,640 --> 00:16:29,720
Speaker 4: I'm a bus He'll help you out. The Foxfirm dot

365
00:16:29,760 --> 00:16:31,880
Speaker 4: Com with us is We're now back here with my

366
00:16:31,920 --> 00:16:35,080
Speaker 4: man Connor. He's our sound engineer here at Cannabis Talk

367
00:16:35,080 --> 00:16:37,120
Speaker 4: one on one on iHeartRadio. And he's somebody that I've

368
00:16:37,120 --> 00:16:40,080
Speaker 4: become good friends with. I super admire his not just

369
00:16:40,120 --> 00:16:43,720
Speaker 4: opinions and his takes. Sometimes we don't agree, but he

370
00:16:43,800 --> 00:16:47,040
Speaker 4: makes me sometimes look at things differently, and sometimes he

371
00:16:47,120 --> 00:16:48,440
Speaker 4: knows things a little bit more than me. You know,

372
00:16:48,640 --> 00:16:51,040
Speaker 4: I think you're what at least ten fifteen years younger

373
00:16:51,040 --> 00:16:54,000
Speaker 4: than me. I'm twenty four right now, so yeah, something

374
00:16:54,040 --> 00:16:56,880
Speaker 4: like that, I think all the splcen age. But and

375
00:16:56,920 --> 00:16:58,600
Speaker 4: there is a value to that, guys. I always try

376
00:16:58,600 --> 00:17:01,320
Speaker 4: to look for the nuggets to teach you guys of

377
00:17:01,680 --> 00:17:03,440
Speaker 4: how you can make money. And I think one of

378
00:17:03,480 --> 00:17:06,399
Speaker 4: the lessons I learned on Wall Street was some of

379
00:17:06,400 --> 00:17:08,680
Speaker 4: these old timers would always just hang around with each other.

380
00:17:08,920 --> 00:17:10,639
Speaker 4: And I found that the ones that were giving the

381
00:17:10,720 --> 00:17:13,200
Speaker 4: best advice to their clients would have the best stock picks,

382
00:17:13,240 --> 00:17:15,080
Speaker 4: would have the best you know, ideas that were a

383
00:17:15,119 --> 00:17:17,080
Speaker 4: little bit outside of the box. They would surround they

384
00:17:17,119 --> 00:17:20,280
Speaker 4: would become the mentors to us some of the newer guys,

385
00:17:20,280 --> 00:17:22,600
Speaker 4: some of the rookies, if you will, And I found

386
00:17:22,640 --> 00:17:24,680
Speaker 4: that those guys were always a little bit more advanced.

387
00:17:24,680 --> 00:17:26,800
Speaker 4: They had the best technology, they had the best tips,

388
00:17:26,840 --> 00:17:28,679
Speaker 4: they had the best waste and not just make their

389
00:17:28,720 --> 00:17:31,399
Speaker 4: clients money, but to make their lives easier. So one

390
00:17:31,440 --> 00:17:33,679
Speaker 4: of the reasons I try to surround myself with people

391
00:17:34,000 --> 00:17:36,480
Speaker 4: not just that are more higher than me, older than me,

392
00:17:36,600 --> 00:17:38,520
Speaker 4: more wise than me, like Joe, as you know, in

393
00:17:38,560 --> 00:17:41,480
Speaker 4: this industry, but some I also like to rely on

394
00:17:41,560 --> 00:17:43,480
Speaker 4: people are younger than me and hear the reviewpoints, and

395
00:17:43,920 --> 00:17:45,879
Speaker 4: hear what the latest trends are and what the latest

396
00:17:45,920 --> 00:17:48,119
Speaker 4: ideas are, because you never know where in that aha

397
00:17:48,240 --> 00:17:50,080
Speaker 4: moment's gonna come. You never know when you're gonna be

398
00:17:50,119 --> 00:17:52,840
Speaker 4: able to make money by meeting the right person that

399
00:17:52,920 --> 00:17:55,320
Speaker 4: just opens your eyes. And crypto is one of those

400
00:17:55,320 --> 00:17:57,080
Speaker 4: things for me, man, I want to touch on now.

401
00:17:57,320 --> 00:17:59,560
Speaker 4: You know the relevance of this new legislation again, this

402
00:17:59,600 --> 00:18:01,880
Speaker 4: thing I think just came out yesterday or the day before.

403
00:18:02,280 --> 00:18:05,480
Speaker 4: But the crypto markets is something that has been just

404
00:18:05,560 --> 00:18:09,200
Speaker 4: such a rollercoaster since its inception, right, and you get

405
00:18:09,200 --> 00:18:11,439
Speaker 4: a lot of these newer guys that haven't been burnt,

406
00:18:11,840 --> 00:18:15,359
Speaker 4: that that hadn't seen you know, the dot com bubble burst,

407
00:18:15,359 --> 00:18:19,240
Speaker 4: the tech bubble burst, the recessions, and when when crypto

408
00:18:19,359 --> 00:18:21,520
Speaker 4: came out and really took off, everybody kind of had

409
00:18:21,560 --> 00:18:24,680
Speaker 4: this fomo and I call it the cycle of fear.

410
00:18:25,040 --> 00:18:26,720
Speaker 4: And it's it's the same thing with the stock market

411
00:18:26,800 --> 00:18:28,760
Speaker 4: quite frankly, but it's like when somethings that are all

412
00:18:29,680 --> 00:18:33,000
Speaker 4: all time high. The Denny's waitress is talking about trading it.

413
00:18:33,600 --> 00:18:35,520
Speaker 4: You know, my mom, who never knows it, talks about

414
00:18:35,520 --> 00:18:38,560
Speaker 4: cryptos all of a sudden, talk about bitcoins when everybody's

415
00:18:38,600 --> 00:18:41,320
Speaker 4: talking about it. Is when everybody piles in, right, And

416
00:18:41,400 --> 00:18:43,919
Speaker 4: whether you made money or you just got in at

417
00:18:43,920 --> 00:18:45,720
Speaker 4: the high, and now it starts to fall and again

418
00:18:45,800 --> 00:18:47,920
Speaker 4: stock markets the same way. It starts coming down, coming down.

419
00:18:48,240 --> 00:18:49,959
Speaker 4: If you think about it like a clock, you're at

420
00:18:50,000 --> 00:18:52,400
Speaker 4: the three PM point and it's really coming down the hill,

421
00:18:52,640 --> 00:18:54,359
Speaker 4: and that's when people are like, oh shit, should I

422
00:18:54,359 --> 00:18:55,920
Speaker 4: sell now? Should I sell now? And right when it

423
00:18:56,000 --> 00:18:58,840
Speaker 4: hits about six o'clock, when they're at the absolute freaking

424
00:18:58,920 --> 00:19:02,080
Speaker 4: lowest is one that everybody's starting to sell right. And

425
00:19:03,200 --> 00:19:05,760
Speaker 4: then that's when you see, you know, companies like Chase

426
00:19:05,800 --> 00:19:08,760
Speaker 4: getting into it, and you know Diamond the CEO Chase

427
00:19:08,760 --> 00:19:10,879
Speaker 4: who said I'll never touch it, and Warren Buffett who

428
00:19:10,880 --> 00:19:12,760
Speaker 4: said it's bullshit. Now all of a sudden, these big

429
00:19:12,760 --> 00:19:14,800
Speaker 4: players are getting in the game. And now the clock

430
00:19:14,880 --> 00:19:17,320
Speaker 4: starts swinging about nine o'clock and everybody who just lost

431
00:19:17,400 --> 00:19:19,720
Speaker 4: their money is getting faux mo and blah blah blah.

432
00:19:19,760 --> 00:19:21,520
Speaker 4: And right around ten to eleven o'clock is all of

433
00:19:21,520 --> 00:19:24,280
Speaker 4: a sudden that cycle continues. And so for me, Crypto

434
00:19:24,320 --> 00:19:26,640
Speaker 4: has been that I and I cannot say that I'm

435
00:19:26,680 --> 00:19:30,119
Speaker 4: an expert at it in the least bit. Everything I

436
00:19:30,280 --> 00:19:32,520
Speaker 4: just described to you, I've gone through several times on

437
00:19:32,560 --> 00:19:35,560
Speaker 4: several cycles with Crypto. Then it was the shit coins,

438
00:19:35,600 --> 00:19:37,439
Speaker 4: which you know for those of you that they'll know.

439
00:19:37,560 --> 00:19:39,679
Speaker 4: I think there's like twenty thousand different coins that you

440
00:19:39,680 --> 00:19:42,600
Speaker 4: can buy now that people can create on their own,

441
00:19:42,680 --> 00:19:44,440
Speaker 4: and they're tied to different things. And then you had

442
00:19:44,440 --> 00:19:47,520
Speaker 4: the NFT model. So it's such the wild wild West.

443
00:19:48,000 --> 00:19:50,000
Speaker 4: And again the government I think is trying to figure

444
00:19:50,040 --> 00:19:51,840
Speaker 4: out how they can make money on it, how they

445
00:19:51,840 --> 00:19:54,160
Speaker 4: can access, how they can track the money. And there

446
00:19:54,160 --> 00:19:55,600
Speaker 4: are was you know, it did start off in a

447
00:19:55,720 --> 00:19:58,320
Speaker 4: very nefarious space, right with the whole silk Roat thing

448
00:19:58,320 --> 00:20:01,240
Speaker 4: where people were using it. He's a dark web, that

449
00:20:01,320 --> 00:20:03,399
Speaker 4: shit was popping. Do you know how to use the

450
00:20:03,440 --> 00:20:05,199
Speaker 4: dark web? Oh yeah, I've been on that ship. I

451
00:20:05,240 --> 00:20:07,640
Speaker 4: got the tour browser. We're all good. Oh man, That's

452
00:20:07,640 --> 00:20:10,320
Speaker 4: why I love it talking here. Yeah, So no, I don't.

453
00:20:10,359 --> 00:20:12,760
Speaker 4: I never went down that rabbit hole because I again,

454
00:20:12,800 --> 00:20:14,280
Speaker 4: I know once I go down, and I'll be on

455
00:20:14,320 --> 00:20:17,000
Speaker 4: the computer twenty four to seven, because that's anyway, right,

456
00:20:17,040 --> 00:20:19,840
Speaker 4: And then unlike the stock market, uh you know, the

457
00:20:19,840 --> 00:20:22,680
Speaker 4: crypto market specifically, they're twenty four seven, three sixty five.

458
00:20:22,800 --> 00:20:25,880
Speaker 4: So you know, I love gambling. I love taking chances,

459
00:20:25,880 --> 00:20:27,919
Speaker 4: but it's one of those things to where you know,

460
00:20:28,040 --> 00:20:30,119
Speaker 4: you can gamble on it at any time, and it

461
00:20:30,119 --> 00:20:31,879
Speaker 4: does become pretty addicting, right totally.

462
00:20:31,960 --> 00:20:35,199
Speaker 3: I mean you just see your homie like break in

463
00:20:35,200 --> 00:20:38,840
Speaker 3: one hundred k profit from you know, investing in some

464
00:20:38,960 --> 00:20:41,520
Speaker 3: random coin, and it's like, what's stopping you from doing that?

465
00:20:41,680 --> 00:20:43,159
Speaker 3: But you know, you just have to you have to

466
00:20:43,160 --> 00:20:45,680
Speaker 3: play the game right and like don't be reactionary with it,

467
00:20:45,760 --> 00:20:48,320
Speaker 3: like do your own research and you know, figure out

468
00:20:48,320 --> 00:20:49,960
Speaker 3: what you want to invest in for yourself, like what

469
00:20:50,040 --> 00:20:52,600
Speaker 3: makes you feel good and all that kind of shit.

470
00:20:52,800 --> 00:20:55,560
Speaker 3: So like you can't just expect to buy like fucking

471
00:20:55,760 --> 00:20:59,240
Speaker 3: doge coin and then you know, be a millionaire after

472
00:20:59,440 --> 00:21:01,359
Speaker 3: you know, it takes a little bit more thought than that.

473
00:21:01,440 --> 00:21:05,479
Speaker 4: Yeah, you know. I it's interesting on that note because

474
00:21:05,560 --> 00:21:08,679
Speaker 4: I think most people don't really understand. I was in

475
00:21:08,680 --> 00:21:11,919
Speaker 4: this networking group in Dallas, a lot of high level CEOs.

476
00:21:12,240 --> 00:21:14,159
Speaker 4: EXECT basically had to be a business owner and had

477
00:21:14,240 --> 00:21:16,840
Speaker 4: to have a decent business to even be a member

478
00:21:16,880 --> 00:21:18,600
Speaker 4: of it. I think it costs like thirty grand a year.

479
00:21:18,840 --> 00:21:21,359
Speaker 4: But in there, this was at the heyday of the

480
00:21:21,480 --> 00:21:23,960
Speaker 4: doge cones and all these other crap coins that would

481
00:21:23,960 --> 00:21:25,960
Speaker 4: come out and people would tell me I got a

482
00:21:25,960 --> 00:21:29,280
Speaker 4: three million dollar portfolio, two million dollar portfolio, and unlike this,

483
00:21:29,480 --> 00:21:31,320
Speaker 4: I'm like, yeah, but you haven't sold it yet. You

484
00:21:31,320 --> 00:21:33,760
Speaker 4: know what I'm saying, You don't have that money until

485
00:21:33,760 --> 00:21:36,919
Speaker 4: you hit send, you hit sell, it converts to freaking

486
00:21:37,000 --> 00:21:38,840
Speaker 4: the eighteen other coins you have to convert to to

487
00:21:38,920 --> 00:21:41,040
Speaker 4: convert it back to cash. Then you have to figure

488
00:21:41,040 --> 00:21:42,439
Speaker 4: out how the hell we get the money out of

489
00:21:42,440 --> 00:21:45,800
Speaker 4: the system without you know, getting just raped with taxes

490
00:21:45,840 --> 00:21:49,200
Speaker 4: in terms of capital gains. And everybody doesn't didn't understand

491
00:21:49,359 --> 00:21:51,359
Speaker 4: the Yes, the government will catch up with this. You

492
00:21:51,440 --> 00:21:54,119
Speaker 4: got short term capital games, you got long term capital gains.

493
00:21:54,600 --> 00:21:57,400
Speaker 4: In fact, the other day in the coinbase, I try

494
00:21:57,400 --> 00:22:00,439
Speaker 4: to access my accountants, like unless you go through these things,

495
00:22:00,640 --> 00:22:02,720
Speaker 4: which means now they're going to be reporting every single

496
00:22:02,760 --> 00:22:06,560
Speaker 4: transaction that you can't even you know, do a transaction

497
00:22:06,600 --> 00:22:08,760
Speaker 4: more than a few bucks or something stilly like that,

498
00:22:08,800 --> 00:22:12,080
Speaker 4: which again you know, it's it's we saw that coming. Uh,

499
00:22:13,119 --> 00:22:14,800
Speaker 4: there's a new thing that came out that kind of

500
00:22:14,840 --> 00:22:17,119
Speaker 4: bridges the two industries that we're talking about right now,

501
00:22:17,119 --> 00:22:20,720
Speaker 4: where Congress could include a marijuana banking bill in an

502
00:22:20,880 --> 00:22:25,520
Speaker 4: FAA crypto bill, and again, you know wild synergy, right, there.

503
00:22:25,760 --> 00:22:27,960
Speaker 4: For those of you that don't know, the FAA is

504
00:22:28,000 --> 00:22:31,879
Speaker 4: the Federal Aviation Agency. Right, let me read you what

505
00:22:31,880 --> 00:22:34,000
Speaker 4: this bill is doing. And supporters of a long waited

506
00:22:34,000 --> 00:22:37,840
Speaker 4: marijuana banking reform or pinning hopes on Congress packaging a

507
00:22:37,920 --> 00:22:42,320
Speaker 4: cannabis bill with must pass legislation, Congress has yet to

508
00:22:42,320 --> 00:22:45,080
Speaker 4: get the Safer Banking Act Act across the finish line,

509
00:22:45,080 --> 00:22:48,199
Speaker 4: despite almost decades of trying and repeated success in the

510
00:22:48,200 --> 00:22:53,520
Speaker 4: House of Representatives. As they've reported, a marijuana reform slash

511
00:22:53,560 --> 00:22:57,120
Speaker 4: crypto bill would be included and it must pass Federal

512
00:22:57,280 --> 00:23:03,080
Speaker 4: Aviation Administration Reauthorization Bill. And again just surface reading, what

513
00:23:03,119 --> 00:23:06,440
Speaker 4: the hell does the FA have to do with banking

514
00:23:06,640 --> 00:23:07,680
Speaker 4: and have to do with crypto?

515
00:23:08,320 --> 00:23:12,239
Speaker 3: So I gots a, it's a wild little concoction. Why

516
00:23:12,280 --> 00:23:14,480
Speaker 3: don't you break it down for me? I have my ideas,

517
00:23:14,520 --> 00:23:16,000
Speaker 3: but I know you probably have a better one.

518
00:23:16,400 --> 00:23:18,800
Speaker 4: Yeah, this one actually had left me dumbfounded, and I

519
00:23:18,840 --> 00:23:20,359
Speaker 4: was like, there was another topic I was going to

520
00:23:20,400 --> 00:23:22,280
Speaker 4: talk about today, But when I came across this, and

521
00:23:22,400 --> 00:23:24,880
Speaker 4: you know, this thing came out literally today. I think

522
00:23:24,880 --> 00:23:26,719
Speaker 4: it was being talked about yesterday, but it came out

523
00:23:26,760 --> 00:23:29,520
Speaker 4: today and it hasn't become you know, the safer banking

524
00:23:29,520 --> 00:23:30,960
Speaker 4: thing is something they've been trying to do. And for

525
00:23:31,000 --> 00:23:33,800
Speaker 4: those of you not in California, you know, California is

526
00:23:33,800 --> 00:23:36,960
Speaker 4: the cannabis capital of the world, and we've been doing

527
00:23:36,960 --> 00:23:39,840
Speaker 4: this where the gold standard supposedly of you know, rolling

528
00:23:39,880 --> 00:23:43,360
Speaker 4: out legal cannabis consumption. Yeah, we're pushing the culture. That's

529
00:23:43,359 --> 00:23:45,560
Speaker 4: one hundred percent it. And I've learned that being here,

530
00:23:45,600 --> 00:23:48,160
Speaker 4: and I've seen it now traveling and seeing how far

531
00:23:48,280 --> 00:23:51,959
Speaker 4: behind some states are, like Texas, Tennessee, you know, Oklahoma's

532
00:23:52,040 --> 00:23:54,199
Speaker 4: kind of caught up, which was a little shocking. But

533
00:23:55,080 --> 00:23:57,439
Speaker 4: when you one of the biggest problems for anybody in

534
00:23:57,440 --> 00:23:59,760
Speaker 4: the space out here that touches the plant, sells the plant,

535
00:23:59,800 --> 00:24:03,320
Speaker 4: or mostly has a dispensary or farm, is that you're

536
00:24:03,320 --> 00:24:07,679
Speaker 4: dealing with mountains of cash. And you know, the banks,

537
00:24:07,720 --> 00:24:11,800
Speaker 4: because they have a FDIC charter, they're federally regulated, blah

538
00:24:11,840 --> 00:24:14,880
Speaker 4: blah blah. Because it's still federally illegal, they didn't want

539
00:24:14,880 --> 00:24:19,080
Speaker 4: to touch offering banking solutions to the average person or

540
00:24:19,200 --> 00:24:21,960
Speaker 4: the average dispensary, et cetera, et cetera. So all these

541
00:24:22,000 --> 00:24:25,160
Speaker 4: other ancillary businesses popped up I remember these ATMs where

542
00:24:25,200 --> 00:24:28,080
Speaker 4: you were, you know, buying bitcoin at the dispensary that

543
00:24:28,200 --> 00:24:31,920
Speaker 4: was converting into everybody was coming up with creatively right

544
00:24:32,400 --> 00:24:36,240
Speaker 4: or gosh, these ATM machines inside the dispensaries were just

545
00:24:36,440 --> 00:24:39,920
Speaker 4: crushing it. Oh my god, they're crazy, like more than

546
00:24:39,920 --> 00:24:40,560
Speaker 4: a strip club.

547
00:24:41,960 --> 00:24:46,280
Speaker 3: Yeah, Like it's it rips off further than like currency exchange,

548
00:24:46,440 --> 00:24:49,280
Speaker 3: Like I go over to Europe and I'm getting, you know,

549
00:24:49,480 --> 00:24:51,240
Speaker 3: ding blessed than I do an dispensary.

550
00:24:51,359 --> 00:24:53,639
Speaker 4: Yeah, they've they've definitely got a little bit smarter, you know,

551
00:24:53,840 --> 00:24:56,400
Speaker 4: kind of a tangent. But that's another thing I never understood.

552
00:24:56,440 --> 00:24:58,880
Speaker 4: It's like, all right, in a casino, a strip clever

553
00:24:59,040 --> 00:25:02,240
Speaker 4: dispensary where you have such high margin products right where

554
00:25:02,280 --> 00:25:04,760
Speaker 4: you want your customer to take out their last fricking dollar,

555
00:25:05,200 --> 00:25:07,919
Speaker 4: why are you putting all these outrageous fees? You know,

556
00:25:07,920 --> 00:25:10,320
Speaker 4: if you're a casino, you're almost like, look, dude, there's

557
00:25:10,320 --> 00:25:12,560
Speaker 4: no fees. You can tap into your checking account any

558
00:25:12,640 --> 00:25:15,440
Speaker 4: time you want. Instead, they're just such erroneous face. Same

559
00:25:15,440 --> 00:25:17,760
Speaker 4: thing in a strip club, same thing at a dispensary.

560
00:25:18,359 --> 00:25:20,920
Speaker 4: The fundamentals to that is something I've never understood. I'm

561
00:25:20,920 --> 00:25:21,960
Speaker 4: sure there's reason they do it.

562
00:25:22,040 --> 00:25:24,119
Speaker 3: Yeah, for cannabis at least, Like I can think of

563
00:25:24,160 --> 00:25:26,360
Speaker 3: a couple of reasons why, Like.

564
00:25:30,320 --> 00:25:30,640
Speaker 4: You know.

565
00:25:33,240 --> 00:25:38,800
Speaker 3: That rephrase the question for me, so me hear this.

566
00:25:39,400 --> 00:25:42,240
Speaker 4: What is your theory on why these three industries all

567
00:25:42,280 --> 00:25:46,240
Speaker 4: having very high profit margins? Strip clubs, dispensaries.

568
00:25:45,600 --> 00:25:48,159
Speaker 3: Okay, yeah, okay, dispensaries at least, I'll say that you

569
00:25:48,160 --> 00:25:51,560
Speaker 3: know that cut could go towards the egregious amount of

570
00:25:51,640 --> 00:25:56,000
Speaker 3: licensing fees and you know, upkeeping the dispensary because there

571
00:25:56,040 --> 00:26:00,600
Speaker 3: is a lot or say, if you're manufact rcturing or

572
00:26:00,800 --> 00:26:02,480
Speaker 3: you know, growing or whatever, and you want to like

573
00:26:02,560 --> 00:26:05,639
Speaker 3: do all those different facets of cannabis, like it adds up,

574
00:26:05,720 --> 00:26:07,040
Speaker 3: and especially to do it legally.

575
00:26:07,080 --> 00:26:09,280
Speaker 4: So I can imagine you know, that kind of shit

576
00:26:09,359 --> 00:26:11,600
Speaker 4: would go toward it. But well, the fees add up,

577
00:26:11,600 --> 00:26:13,760
Speaker 4: that's for sure. But I think the point that I'm

578
00:26:13,800 --> 00:26:16,000
Speaker 4: trying to make is, wouldn't you rather if you're a

579
00:26:16,000 --> 00:26:19,000
Speaker 4: dispensary owner, right, I would want someone to just spend

580
00:26:19,040 --> 00:26:22,600
Speaker 4: all their all their money because your margins on the product. Yes,

581
00:26:22,720 --> 00:26:25,280
Speaker 4: the taxes are egregious, and that's a whole other conversation

582
00:26:25,440 --> 00:26:28,960
Speaker 4: but but I just don't understand why they wouldn't just

583
00:26:29,040 --> 00:26:31,960
Speaker 4: want to encourage the consumer. Now, at least at a dispensary,

584
00:26:32,000 --> 00:26:34,640
Speaker 4: it's a flat fee, I've seen five, six, seven bucks.

585
00:26:34,880 --> 00:26:37,040
Speaker 4: But the ones like at a casino or a strip

586
00:26:37,080 --> 00:26:39,240
Speaker 4: club where they're charging a percentage of what you take

587
00:26:39,240 --> 00:26:42,240
Speaker 4: out blows my mind, right, because now it's like, well, dude,

588
00:26:42,240 --> 00:26:44,080
Speaker 4: don't you want the guy to take out as much

589
00:26:44,119 --> 00:26:46,760
Speaker 4: money as he can take your fees? But once it's

590
00:26:46,760 --> 00:26:48,760
Speaker 4: a percentage, And to your point, I don't think I've

591
00:26:48,760 --> 00:26:51,840
Speaker 4: ever seen it be a percentage of what you take

592
00:26:51,880 --> 00:26:53,560
Speaker 4: out at a dispensary. I've only seen it at the

593
00:26:53,600 --> 00:26:54,520
Speaker 4: two other types of business.

594
00:26:54,560 --> 00:26:55,320
Speaker 5: I think I've had a.

595
00:26:57,160 --> 00:27:00,399
Speaker 4: Couple of percentages to me, and to your point, you know,

596
00:27:00,480 --> 00:27:03,280
Speaker 4: I think there's I guess the only other argument I

597
00:27:03,280 --> 00:27:06,160
Speaker 4: can see from that dispensary owners. Look, this guy's gonna

598
00:27:06,160 --> 00:27:08,280
Speaker 4: want to take out his money to buy stuff. He's

599
00:27:08,280 --> 00:27:10,600
Speaker 4: going to do it anyway, right, So why don't I

600
00:27:10,640 --> 00:27:12,760
Speaker 4: make my money there as well the maximum I can? So,

601
00:27:12,800 --> 00:27:14,439
Speaker 4: I guess there's an argument to be made there, But

602
00:27:14,720 --> 00:27:18,080
Speaker 4: we digress. Now. This bill is following on a December

603
00:27:18,119 --> 00:27:21,280
Speaker 4: twenty second effort to include cannabis with a budget or

604
00:27:21,280 --> 00:27:23,520
Speaker 4: defense bill. Again, they always seem to tie it with

605
00:27:23,600 --> 00:27:29,359
Speaker 4: shit that has no correlation. I don't understand. Yeah, the

606
00:27:29,480 --> 00:27:33,320
Speaker 4: FA is tricking me out. Now the crazy part of this.

607
00:27:33,680 --> 00:27:36,240
Speaker 4: And again I don't know as much about the FA,

608
00:27:36,240 --> 00:27:39,120
Speaker 4: But the FAA bill must be passed by May ten,

609
00:27:39,440 --> 00:27:42,000
Speaker 4: which is the expiration date for a short term funding

610
00:27:42,040 --> 00:27:46,159
Speaker 4: bill for the agency which regulates airline travel. So you know,

611
00:27:46,240 --> 00:27:48,399
Speaker 4: when they shut down the government, they shut down the government.

612
00:27:48,440 --> 00:27:51,000
Speaker 4: But are they saying now that by May ten, if

613
00:27:51,080 --> 00:27:53,280
Speaker 4: they don't pass this FAA.

614
00:27:52,760 --> 00:27:54,560
Speaker 5: Bill and the cannabis is done.

615
00:27:54,680 --> 00:27:58,159
Speaker 4: Know what they're saying is basically, the FA runs out

616
00:27:58,200 --> 00:28:00,399
Speaker 4: of money. This is the FA bill is a bill

617
00:28:00,880 --> 00:28:03,080
Speaker 4: that is already there, right, They got to pass this

618
00:28:03,160 --> 00:28:05,959
Speaker 4: bill for funding to fund the towers and the and

619
00:28:06,000 --> 00:28:09,400
Speaker 4: the and the airline coordination systems and all that crap. Yeah,

620
00:28:09,400 --> 00:28:12,600
Speaker 4: they're tying the bill to the banking bill so that

621
00:28:12,960 --> 00:28:16,040
Speaker 4: the banking bill has more reason to pass because they

622
00:28:16,080 --> 00:28:18,280
Speaker 4: know that if all of a sudden all the airlines

623
00:28:18,280 --> 00:28:21,399
Speaker 4: stopped moving, everybody's going to be pissed off of Congress

624
00:28:21,440 --> 00:28:23,520
Speaker 4: more than they already are. So I think this is

625
00:28:23,560 --> 00:28:25,960
Speaker 4: a strategy to to push it through, but it's not

626
00:28:26,080 --> 00:28:29,840
Speaker 4: looking good. You know, some of the guys like Schumer

627
00:28:29,880 --> 00:28:34,120
Speaker 4: and Brown are proponents of it, but as of now,

628
00:28:34,160 --> 00:28:36,040
Speaker 4: they don't think they have the sixty votes to pass

629
00:28:36,080 --> 00:28:38,800
Speaker 4: the full Senate. So May ten is you know, it's

630
00:28:38,840 --> 00:28:41,920
Speaker 4: coming up, Yes, soon, it'll it'll be interesting to see

631
00:28:41,920 --> 00:28:44,280
Speaker 4: how this one plays out. But but it's just it's

632
00:28:44,320 --> 00:28:46,000
Speaker 4: odd to me, man, And when when you see an

633
00:28:46,000 --> 00:28:50,280
Speaker 4: industry that that's providing so much money, so much opportunity,

634
00:28:50,280 --> 00:28:52,800
Speaker 4: and and then you see like the regulations and the

635
00:28:52,840 --> 00:28:54,800
Speaker 4: rules involved and what the hell is going on with that?

636
00:28:55,480 --> 00:28:58,800
Speaker 5: Yeah, no, it's uh, you know, very discouraging.

637
00:28:59,160 --> 00:29:01,120
Speaker 3: A lot of people put a lot of hard work

638
00:29:01,160 --> 00:29:04,480
Speaker 3: for this industry and like have a you know, a

639
00:29:04,640 --> 00:29:07,560
Speaker 3: genuine passion for it, and you know, I think that

640
00:29:07,600 --> 00:29:12,640
Speaker 3: should be rewarded and not the opposite, which very clearly

641
00:29:12,680 --> 00:29:15,280
Speaker 3: is the case, especially in California with the current state

642
00:29:15,320 --> 00:29:18,000
Speaker 3: of the industry. And you know, there's not a whole

643
00:29:18,000 --> 00:29:19,960
Speaker 3: lot of players in the game doing too hot right now,

644
00:29:20,120 --> 00:29:21,720
Speaker 3: so it's, uh, it can be.

645
00:29:21,840 --> 00:29:22,640
Speaker 5: It's it's weird.

646
00:29:22,800 --> 00:29:25,920
Speaker 3: It's a weird little spot for the cannabis industry to

647
00:29:25,920 --> 00:29:27,640
Speaker 3: be in because like, from the outside it looks super

648
00:29:27,640 --> 00:29:30,680
Speaker 3: successful and like, oh, like I want to get into cannabis.

649
00:29:30,880 --> 00:29:33,400
Speaker 3: I want to do this X, Y, and Z with

650
00:29:33,440 --> 00:29:37,320
Speaker 3: the plant, but it's really fucking difficult right now.

651
00:29:37,960 --> 00:29:40,560
Speaker 4: So I learned something when I was I was in

652
00:29:40,640 --> 00:29:43,280
Speaker 4: Dallas about three or four weeks ago. I was speaking

653
00:29:43,360 --> 00:29:45,959
Speaker 4: at one of our master Mentors Live events, which is

654
00:29:46,000 --> 00:29:49,440
Speaker 4: a cannabis education company that we have here at Cannabis

655
00:29:49,440 --> 00:29:51,680
Speaker 4: Talk one on one where we go out into all

656
00:29:52,440 --> 00:29:55,320
Speaker 4: at least twenty plus states here in this past uh

657
00:29:55,760 --> 00:29:58,080
Speaker 4: in the next twelve months and we educate people on

658
00:29:58,080 --> 00:29:59,440
Speaker 4: how to get in the industry. And one of the

659
00:29:59,440 --> 00:30:02,160
Speaker 4: things I learned one of the speakers there was, you know,

660
00:30:02,920 --> 00:30:04,880
Speaker 4: I've heard you guys talk about it, specifically you and

661
00:30:04,960 --> 00:30:06,640
Speaker 4: Joe talked about it. I think on a segment, what's

662
00:30:06,680 --> 00:30:10,320
Speaker 4: going on in New York and where you know, in California,

663
00:30:10,360 --> 00:30:12,480
Speaker 4: where now the gold standard of how to have legal

664
00:30:12,600 --> 00:30:15,800
Speaker 4: marijuana sales and taxation, et cetera. But you get a

665
00:30:15,840 --> 00:30:18,160
Speaker 4: state like New York that was trying to, for all

666
00:30:18,160 --> 00:30:20,400
Speaker 4: intents and purposes, try to duplicate the revenue that we're

667
00:30:20,440 --> 00:30:23,120
Speaker 4: creating here as a state. And what I found out about.

668
00:30:23,400 --> 00:30:24,920
Speaker 4: And for those of you who haven't been to New York.

669
00:30:24,960 --> 00:30:26,719
Speaker 4: Back then New York you smell like shit bumms every

670
00:30:26,760 --> 00:30:28,600
Speaker 4: blah blah blah. Now you walk down on any street,

671
00:30:28,640 --> 00:30:30,760
Speaker 4: it smells like wait. Everywhere you go in New York,

672
00:30:30,800 --> 00:30:33,120
Speaker 4: it just smells like wait. And when you walk around

673
00:30:33,520 --> 00:30:34,840
Speaker 4: one of the gals, I was like, yeah, I just

674
00:30:34,840 --> 00:30:36,920
Speaker 4: came back from New York. I probably saw, like, you know,

675
00:30:36,960 --> 00:30:39,720
Speaker 4: a dispensary in every corner. How many in the in

676
00:30:40,200 --> 00:30:43,160
Speaker 4: the island of Manhattan? And I may be off by

677
00:30:43,200 --> 00:30:45,320
Speaker 4: this by a few digits, but it's not that much.

678
00:30:45,760 --> 00:30:48,760
Speaker 4: How many legal license shops do you think are in

679
00:30:48,760 --> 00:30:50,160
Speaker 4: New York? And that's the bit a segment.

680
00:30:50,760 --> 00:30:53,920
Speaker 3: Well, based on the article that I was reading the

681
00:30:53,960 --> 00:30:57,120
Speaker 3: other the other day with the content show, where you know,

682
00:30:57,240 --> 00:31:00,880
Speaker 3: there was some stupid numbers, and it was like the numbers,

683
00:31:00,960 --> 00:31:03,400
Speaker 3: the data itself, at face value, made it seem like

684
00:31:03,400 --> 00:31:05,960
Speaker 3: they're doing favors to certain places, you know. And so

685
00:31:06,040 --> 00:31:11,600
Speaker 3: for example, Santa Barbara had a crazy proportion comparatively to

686
00:31:11,680 --> 00:31:15,000
Speaker 3: the rest of California, where they had over two thousand

687
00:31:15,080 --> 00:31:18,160
Speaker 3: active licenses for a very small population, giving it like

688
00:31:18,400 --> 00:31:21,440
Speaker 3: for every sixty seven people there's one person with a license.

689
00:31:21,560 --> 00:31:24,720
Speaker 5: Now you go to Sacramento, where it was five hundred

690
00:31:24,760 --> 00:31:25,240
Speaker 5: thousand people.

691
00:31:25,280 --> 00:31:28,720
Speaker 3: In Sacramento, they have three hundred and thirty four active licenses,

692
00:31:28,840 --> 00:31:31,560
Speaker 3: which means every like one five hundred and seventy one

693
00:31:31,640 --> 00:31:34,880
Speaker 3: people there is a fucking cannabis license. So it's like

694
00:31:35,240 --> 00:31:37,680
Speaker 3: it depends on you know, where the friends are and

695
00:31:37,720 --> 00:31:39,800
Speaker 3: who's getting the licenses, and you know they get the

696
00:31:40,400 --> 00:31:43,960
Speaker 3: We've had one show on here before where social equity

697
00:31:48,840 --> 00:31:50,960
Speaker 3: what's the word he was he was applying for the

698
00:31:50,960 --> 00:31:54,440
Speaker 3: social equity for cannabis and found out that, you know,

699
00:31:54,600 --> 00:32:00,280
Speaker 3: they the state of California gave the sign up to

700
00:32:00,320 --> 00:32:04,400
Speaker 3: their friends like ten minutes prior to the thing actually opening.

701
00:32:04,440 --> 00:32:06,480
Speaker 3: Pseudom one. So it's like, that's what we're up against

702
00:32:06,480 --> 00:32:07,360
Speaker 3: when you're getting a license.

703
00:32:07,400 --> 00:32:09,840
Speaker 4: Yeah, or like private equity bankroll in somebody that's going

704
00:32:09,920 --> 00:32:12,400
Speaker 4: to get the license. Down New York, it was something different, dude,

705
00:32:12,400 --> 00:32:14,640
Speaker 4: what I'm talking about in New York, which blew my mind.

706
00:32:14,680 --> 00:32:17,000
Speaker 4: And I'd love for you to verify these numbers, but

707
00:32:17,000 --> 00:32:19,920
Speaker 4: they're really close because the speaker had actually looked them

708
00:32:20,000 --> 00:32:21,880
Speaker 4: up and he had it all up. But in New

709
00:32:21,960 --> 00:32:26,880
Speaker 4: York there's roughly less than one hundred, substantially less than

710
00:32:26,880 --> 00:32:30,719
Speaker 4: one hundred legal licenses that were issued in the city Manhattan.

711
00:32:30,880 --> 00:32:36,640
Speaker 4: There's over thirty thousand marijuana dispensaries in New York, thirty

712
00:32:36,680 --> 00:32:39,120
Speaker 4: thousand to one hundred, so one hundred of them I

713
00:32:39,160 --> 00:32:41,360
Speaker 4: legal and thirty thousand dodds. So chances are if you've

714
00:32:41,360 --> 00:32:43,440
Speaker 4: been in New York and you bought weed at a dispensary,

715
00:32:43,440 --> 00:32:47,000
Speaker 4: that dispensary was not a legal run operation. Now you know,

716
00:32:47,080 --> 00:32:49,280
Speaker 4: diving into the numbers and why this matter is check

717
00:32:49,360 --> 00:32:54,440
Speaker 4: this out. The This is pretty funny when you really

718
00:32:54,480 --> 00:32:57,800
Speaker 4: break it down, dude. So New York's license operators did

719
00:32:57,800 --> 00:33:00,640
Speaker 4: one hundred and fifty million in sales and they collected

720
00:33:00,680 --> 00:33:04,160
Speaker 4: thirty three million dollars in taxes. Thirty three million may

721
00:33:04,200 --> 00:33:06,320
Speaker 4: sound like a lot, but for New York and selling

722
00:33:06,320 --> 00:33:09,760
Speaker 4: cannabis in a legal market, it is nothing. To give

723
00:33:09,800 --> 00:33:13,200
Speaker 4: you a comparison Missouri, which most people have never been to,

724
00:33:13,840 --> 00:33:19,480
Speaker 4: substantially smaller and concentrated in population, Missouri, which is only

725
00:33:19,520 --> 00:33:22,000
Speaker 4: adult used cannabis. In February twenty twenty three. They only

726
00:33:22,080 --> 00:33:24,320
Speaker 4: launched it this past year. They've already had a billion

727
00:33:24,360 --> 00:33:27,080
Speaker 4: dollars in sales in the first year, dude. So the

728
00:33:27,120 --> 00:33:30,360
Speaker 4: math is just astronomical at what's now coming out New

729
00:33:30,440 --> 00:33:33,000
Speaker 4: York and its infinite wisdom is they've come up with

730
00:33:33,160 --> 00:33:36,040
Speaker 4: a budget to not necessarily shut people down, but to

731
00:33:36,120 --> 00:33:38,560
Speaker 4: padlock their front doors from up to one year if

732
00:33:38,560 --> 00:33:41,000
Speaker 4: they're an illegal shop. Notice, they don't even shut them down,

733
00:33:41,000 --> 00:33:43,960
Speaker 4: they just padlock the front doors. And that's good, dude.

734
00:33:44,160 --> 00:33:46,920
Speaker 4: So they have they have a two hundred and thirty

735
00:33:46,920 --> 00:33:50,120
Speaker 4: seven billion dollar budget and they're carving out a piece

736
00:33:50,120 --> 00:33:52,560
Speaker 4: of this budget. At a press conference here in April nineteen,

737
00:33:52,880 --> 00:33:54,960
Speaker 4: they stood up and they said illegal shops will not

738
00:33:55,000 --> 00:33:57,600
Speaker 4: disappear overnight. New Yorkers will eventually see a change in

739
00:33:57,600 --> 00:34:01,440
Speaker 4: their communities. The insanities stop now. But to me, man,

740
00:34:01,480 --> 00:34:03,040
Speaker 4: when I see what New York is doing in so

741
00:34:03,080 --> 00:34:05,480
Speaker 4: many different ways, it just seems like the insanity does

742
00:34:05,520 --> 00:34:06,920
Speaker 4: not stop, never.

743
00:34:06,840 --> 00:34:08,480
Speaker 5: Does, hasn't hasn't stopped.

744
00:34:08,600 --> 00:34:11,319
Speaker 3: I mean, at least since I started paying attention to it,

745
00:34:11,480 --> 00:34:15,200
Speaker 3: Like during COVID and everything, it's been it's been a

746
00:34:15,239 --> 00:34:16,160
Speaker 3: madhouse over there.

747
00:34:17,280 --> 00:34:21,920
Speaker 4: And the other not necessarily fun fact, but a fact

748
00:34:21,920 --> 00:34:24,279
Speaker 4: that kind of, you know, really gets your eyes open

749
00:34:24,320 --> 00:34:26,880
Speaker 4: to when you know when regulation ends up going the

750
00:34:26,920 --> 00:34:29,560
Speaker 4: wrong way in the alternative way, right is when you

751
00:34:29,600 --> 00:34:34,160
Speaker 4: see what's happening is in California. It's California and New

752
00:34:34,239 --> 00:34:36,720
Speaker 4: York where the taxes are egregiously high on the product.

753
00:34:37,520 --> 00:34:41,000
Speaker 4: There are statistics that say, well, legal sales went from

754
00:34:41,040 --> 00:34:43,160
Speaker 4: and I'm making up a number here, guys in California

755
00:34:43,160 --> 00:34:45,240
Speaker 4: call it went from twenty three billion to twenty billion.

756
00:34:45,360 --> 00:34:48,480
Speaker 4: So there was a twelve percent decline. But if you

757
00:34:48,560 --> 00:34:50,880
Speaker 4: live out here and you understand what the space is,

758
00:34:51,000 --> 00:34:54,120
Speaker 4: it's not that it declined. It declined it the legal dispensaries,

759
00:34:54,160 --> 00:34:57,080
Speaker 4: which means the dispensary is paying the taxes. But that's

760
00:34:57,080 --> 00:35:00,120
Speaker 4: because the taxes have become so egregious and the consumers

761
00:35:00,120 --> 00:35:02,960
Speaker 4: like well saying the black market is now threaten. And

762
00:35:03,000 --> 00:35:05,279
Speaker 4: this is something you guys have talked about. I've I've

763
00:35:05,280 --> 00:35:07,640
Speaker 4: become educated on it by listening to you guys, but

764
00:35:08,120 --> 00:35:10,200
Speaker 4: it's something that really starts making you think. And again

765
00:35:10,239 --> 00:35:12,560
Speaker 4: I bring up all these not to just have conversations,

766
00:35:12,600 --> 00:35:16,080
Speaker 4: but there's where there's pain, where there's uh, you know,

767
00:35:18,120 --> 00:35:20,280
Speaker 4: what's the word I'm looking for. When there's when there's

768
00:35:20,440 --> 00:35:23,880
Speaker 4: disparity in the marketplace between whether it's the consumer or

769
00:35:23,920 --> 00:35:27,320
Speaker 4: the government, or the government in taxes or legislation or regulation,

770
00:35:27,840 --> 00:35:31,239
Speaker 4: is where you can find opportunities. Right. So, when when

771
00:35:31,280 --> 00:35:33,200
Speaker 4: we're out here on master Mentors or when I'm out

772
00:35:33,239 --> 00:35:36,440
Speaker 4: on the field and talking to entrepreneurs or cannipreneurs, as

773
00:35:36,440 --> 00:35:39,200
Speaker 4: we talk to them, you know, everybody thinks, well, gosh,

774
00:35:39,239 --> 00:35:42,640
Speaker 4: you know, the market in California is saturated and cannabis

775
00:35:42,680 --> 00:35:44,600
Speaker 4: everybody's already making money, and why would I want to

776
00:35:44,600 --> 00:35:46,319
Speaker 4: get into it. I'm like, that's here in your own

777
00:35:46,320 --> 00:35:48,640
Speaker 4: little bubble, you know, in California. We may seem like

778
00:35:48,680 --> 00:35:50,839
Speaker 4: the fields like that, but when you actually look at

779
00:35:50,880 --> 00:35:54,920
Speaker 4: the percentages the year over your quote, the number of users,

780
00:35:54,960 --> 00:36:00,520
Speaker 4: the health benefits. It's finally now becoming uh allowed to

781
00:36:00,560 --> 00:36:02,520
Speaker 4: be even medically tested. You know if a two fun

782
00:36:02,640 --> 00:36:04,920
Speaker 4: years ago we could even have studies on it. So

783
00:36:05,280 --> 00:36:08,120
Speaker 4: it is going to have a lot of the opportunities. Guys,

784
00:36:08,200 --> 00:36:11,040
Speaker 4: keep looking out for waste again, make money in the space,

785
00:36:11,320 --> 00:36:13,520
Speaker 4: dive into the show, listen to the show. Now we're

786
00:36:13,520 --> 00:36:15,080
Speaker 4: going to take a break here, but when I come back,

787
00:36:15,080 --> 00:36:16,720
Speaker 4: I'm going to talk to you about till ray Stock

788
00:36:17,000 --> 00:36:19,080
Speaker 4: it's a cannabis stock, it's a Canadian company, but it's

789
00:36:19,120 --> 00:36:21,080
Speaker 4: something that I think most people who are investing in

790
00:36:21,280 --> 00:36:23,480
Speaker 4: the cannabis space all have questions. But we're going to

791
00:36:23,520 --> 00:36:25,120
Speaker 4: talk about that when we come back here on Financial

792
00:36:25,120 --> 00:36:26,200
Speaker 4: Fridays on ihire Radio.

793
00:36:26,360 --> 00:36:28,799
Speaker 2: We'll be right back with more Financial Fridays with the

794
00:36:28,840 --> 00:36:32,640
Speaker 2: Inside Investor Tony K. Make sure you follow Tony at

795
00:36:32,680 --> 00:36:44,040
Speaker 2: the Insider Investor. Welcome back to Cannabis Talk one on

796
00:36:44,120 --> 00:36:48,440
Speaker 2: ones Financial Fridays with the Inside Investor Tony K. Make

797
00:36:48,480 --> 00:36:51,040
Speaker 2: sure you like, follow and subscribe to the show now.

798
00:36:51,560 --> 00:36:54,480
Speaker 4: Master Mentors Live. You heard me just talk about it

799
00:36:54,560 --> 00:36:57,560
Speaker 4: on the last segment. Guys, check out the website. Mastermenttorslive

800
00:36:57,600 --> 00:37:00,200
Speaker 4: dot com is coming to a city near you. We

801
00:37:00,239 --> 00:37:02,719
Speaker 4: have multiple cities right now that I'm looking at the screen.

802
00:37:02,840 --> 00:37:05,640
Speaker 4: If you're watching it on YouTube, click the link check

803
00:37:05,640 --> 00:37:08,240
Speaker 4: out where we're coming to you. It's an absolutely free

804
00:37:08,520 --> 00:37:10,680
Speaker 4: ninety minute workshop. We're going to show you how to

805
00:37:10,680 --> 00:37:12,919
Speaker 4: make money in the industry, whether you want to buy

806
00:37:12,960 --> 00:37:15,920
Speaker 4: the plant, touch the plant, sell your own joints, white label,

807
00:37:16,000 --> 00:37:19,080
Speaker 4: have a CBD product, have a show like we do,

808
00:37:19,280 --> 00:37:22,240
Speaker 4: have a print magazine, do concerts surround. It doesn't matter

809
00:37:22,280 --> 00:37:25,800
Speaker 4: what you do. There's thousands of ancillary businesses around the

810
00:37:25,800 --> 00:37:29,719
Speaker 4: cannabis industry. It's the fastest growing money making sector in

811
00:37:29,800 --> 00:37:32,439
Speaker 4: the United States, if not globally. This is your chance

812
00:37:32,480 --> 00:37:35,080
Speaker 4: to cash in on the modern day green rush. We

813
00:37:35,160 --> 00:37:37,320
Speaker 4: call it the modern day gold green rush. If you

814
00:37:37,360 --> 00:37:39,920
Speaker 4: will right check it out. Master Mentor's Live. We'll come

815
00:37:39,920 --> 00:37:43,080
Speaker 4: into city near you. Look forward to seeing you guys

816
00:37:43,080 --> 00:37:43,399
Speaker 4: out there.

817
00:37:43,400 --> 00:37:43,560
Speaker 2: Now.

818
00:37:43,560 --> 00:37:47,160
Speaker 4: We're back here on Financial Fridays with my man Connor.

819
00:37:47,600 --> 00:37:50,640
Speaker 4: He's not just my sound engineer, but he's my soundboard

820
00:37:50,640 --> 00:37:53,200
Speaker 4: when I come up with controversial ideas, rabbit holes or

821
00:37:53,200 --> 00:37:56,680
Speaker 4: better yet, even investments. Today's episode has been dedicated to

822
00:37:56,680 --> 00:37:58,720
Speaker 4: giving you guys a little bit background on some of

823
00:37:58,400 --> 00:38:01,200
Speaker 4: the current events happening, not just in the cannabis space,

824
00:38:01,280 --> 00:38:05,080
Speaker 4: but in ideas and concepts that are coming out, legislation,

825
00:38:05,160 --> 00:38:07,920
Speaker 4: regulation that's coming out that could affect your pocketbook. But

826
00:38:07,960 --> 00:38:09,719
Speaker 4: I wanted to tap into till Ray and this is

827
00:38:09,760 --> 00:38:12,520
Speaker 4: something that Joe Grande has been really you know, pushing

828
00:38:12,560 --> 00:38:14,319
Speaker 4: me and encouraging me to talk a little bit more

829
00:38:14,320 --> 00:38:16,680
Speaker 4: about with my background on Wall Street and as you

830
00:38:16,760 --> 00:38:18,640
Speaker 4: get most of you if you have heard the first

831
00:38:18,680 --> 00:38:20,840
Speaker 4: episode or heard me talk on some of the other episodes,

832
00:38:21,000 --> 00:38:22,759
Speaker 4: you know, twenty two years on Wall Street. I saw

833
00:38:22,760 --> 00:38:24,959
Speaker 4: all the good, the bad, the ugly, all the shit

834
00:38:25,000 --> 00:38:26,760
Speaker 4: you see in the movies, from Wolf of Wall Street

835
00:38:26,800 --> 00:38:29,040
Speaker 4: to the movie Wall Street to Boiler Room. All that

836
00:38:29,080 --> 00:38:31,399
Speaker 4: shit is real. And then more so I became really

837
00:38:31,400 --> 00:38:34,279
Speaker 4: disenfranchised on it. Obviously I got a crazy story, but

838
00:38:34,360 --> 00:38:37,200
Speaker 4: I learned a lot about, you know, the warning signs

839
00:38:37,200 --> 00:38:39,879
Speaker 4: with these stocks and the hype, et cetera. And I'd

840
00:38:39,920 --> 00:38:42,279
Speaker 4: love to talk to you and Daniel, our producer, about

841
00:38:42,320 --> 00:38:44,640
Speaker 4: it because till Ray was one of those things when

842
00:38:44,680 --> 00:38:48,360
Speaker 4: Canada first legalized, it became like almost like the Facebook

843
00:38:48,480 --> 00:38:50,840
Speaker 4: stock of weed. Would you say that that's a pretty

844
00:38:50,840 --> 00:38:51,920
Speaker 4: good analogy.

845
00:38:51,640 --> 00:38:53,640
Speaker 3: And like, I'm not too well versed on till Ray,

846
00:38:53,719 --> 00:38:58,000
Speaker 3: but just from seeing the whole initial reaction with Canada,

847
00:38:58,080 --> 00:39:01,880
Speaker 3: like I could assume that it was a pretty big commodity.

848
00:39:02,160 --> 00:39:04,640
Speaker 4: Yeah, and this goes without saying. I think we have

849
00:39:04,680 --> 00:39:06,239
Speaker 4: a disclaimer to open up the show. Nothing that I

850
00:39:06,280 --> 00:39:08,960
Speaker 4: tell you guys is intended as financial advice. I don't

851
00:39:09,040 --> 00:39:11,799
Speaker 4: own any of the stocks or brands or companies that

852
00:39:11,840 --> 00:39:14,799
Speaker 4: I talk about, but till raise. I'm not invested in it.

853
00:39:14,880 --> 00:39:17,560
Speaker 4: I was never invested in it, mainly because I don't

854
00:39:17,560 --> 00:39:20,400
Speaker 4: trust the Canadian stock market and how they function and

855
00:39:20,880 --> 00:39:22,600
Speaker 4: the way that they rolled this out. But it became

856
00:39:22,640 --> 00:39:25,280
Speaker 4: a multi billion dollar cap raise company, if I'm not mistaken.

857
00:39:25,960 --> 00:39:27,920
Speaker 4: But what most people don't know, and I'm curious if

858
00:39:27,920 --> 00:39:30,359
Speaker 4: you knew this, but till raise right now money and

859
00:39:30,800 --> 00:39:32,840
Speaker 4: they burned through cash like it's going out of business.

860
00:39:33,120 --> 00:39:36,920
Speaker 4: They acquired a significant stake in the convertible debt of Medmen,

861
00:39:38,160 --> 00:39:40,799
Speaker 4: and they've made and obviously Medmen, for those of you

862
00:39:40,840 --> 00:39:42,840
Speaker 4: that don't know, was a massive company that were in

863
00:39:42,880 --> 00:39:45,280
Speaker 4: New York. They're out here, very well run pretty almost

864
00:39:45,280 --> 00:39:49,160
Speaker 4: like an Apple store dispensaries. They had multiple verticals. If

865
00:39:49,200 --> 00:39:51,520
Speaker 4: I'm not mistaken, for whatever reasons, and I don't know

866
00:39:51,560 --> 00:39:53,279
Speaker 4: the owners. I don't know much about the brand other

867
00:39:53,320 --> 00:39:56,080
Speaker 4: than they started having financial issues. I would talk to

868
00:39:56,080 --> 00:39:58,120
Speaker 4: some of the employees. They weren't getting paid and you know,

869
00:39:58,320 --> 00:40:01,320
Speaker 4: usually where there's smoke, there's fire. And if I'm not mistaken,

870
00:40:01,320 --> 00:40:04,000
Speaker 4: they've closed down dozens of stores and they're having serious issues,

871
00:40:04,040 --> 00:40:06,520
Speaker 4: et cetera, et cetera. So to me, till Ray, you know,

872
00:40:06,840 --> 00:40:09,440
Speaker 4: they haven't made the best bets in the cannabis industry,

873
00:40:09,719 --> 00:40:12,480
Speaker 4: but what they did start doing is they started acquiring

874
00:40:12,520 --> 00:40:17,239
Speaker 4: alcohol companies, right and till Ray's bets. And before I

875
00:40:17,280 --> 00:40:19,840
Speaker 4: did this segment, I'd reached out to some friends in

876
00:40:19,880 --> 00:40:21,520
Speaker 4: the market and that are a little bit more active

877
00:40:21,520 --> 00:40:23,480
Speaker 4: in the stock market, and I said, why are you

878
00:40:23,520 --> 00:40:26,279
Speaker 4: investing in the stock And everybody was banking on a

879
00:40:26,440 --> 00:40:32,560
Speaker 4: nationwide legislator nationwide legalization of cannabis in America, which, for

880
00:40:32,600 --> 00:40:35,720
Speaker 4: those of you that don't know, interra state cannabis transfer

881
00:40:35,880 --> 00:40:38,759
Speaker 4: is illegal. Right. We can't sell our weed to Oklahoma.

882
00:40:38,800 --> 00:40:41,439
Speaker 4: Oklahoma can't sell their we to US, vice versa. There's

883
00:40:41,560 --> 00:40:45,040
Speaker 4: brands that can have brands in those in those different markets,

884
00:40:45,080 --> 00:40:47,839
Speaker 4: but they have to consume I'm sorry, they have to

885
00:40:48,239 --> 00:40:52,319
Speaker 4: purchase the raw product in that state. Correct, Correct. And

886
00:40:52,400 --> 00:40:55,279
Speaker 4: so the thought process was, you know, especially with the

887
00:40:55,320 --> 00:40:57,719
Speaker 4: current administration coming in saying that he's going to waive

888
00:40:57,719 --> 00:41:01,280
Speaker 4: everybody's you know, criminal going to make it legal every

889
00:41:01,640 --> 00:41:05,759
Speaker 4: every freaking president doesn't matter who you know or which

890
00:41:05,760 --> 00:41:08,239
Speaker 4: side you're on, has promised that as they come in,

891
00:41:08,600 --> 00:41:11,160
Speaker 4: I think they want the stoner vote, you know, and

892
00:41:11,200 --> 00:41:13,600
Speaker 4: they come in and they do some bullshit and oh,

893
00:41:13,640 --> 00:41:15,640
Speaker 4: we'll let these guys out of prison, but these other

894
00:41:15,680 --> 00:41:18,440
Speaker 4: guys are still in there. So nobody's really fulfilled that promise.

895
00:41:19,000 --> 00:41:22,080
Speaker 4: And we sit here in twenty twenty four with fifteen

896
00:41:22,120 --> 00:41:25,560
Speaker 4: other class drugs being worse than cannabis, better than cannabis.

897
00:41:25,600 --> 00:41:27,720
Speaker 4: The government right now, if you look at the class

898
00:41:28,000 --> 00:41:30,960
Speaker 4: the class schedule of drugs, will tell you the fensanyl

899
00:41:31,080 --> 00:41:35,040
Speaker 4: speed cocaine, heroin is safer than marijuana, which blows my mind.

900
00:41:35,880 --> 00:41:38,200
Speaker 4: It just blows my mind. Right, So, as they tell

901
00:41:38,239 --> 00:41:40,839
Speaker 4: you this, as they're shoveling this down your throat, at

902
00:41:40,880 --> 00:41:44,960
Speaker 4: the same token, cannabis is still federally illegal. So I

903
00:41:44,960 --> 00:41:47,720
Speaker 4: think till Ray came in with this promise. The stream,

904
00:41:47,840 --> 00:41:49,799
Speaker 4: probably some of the road shows of how they stole

905
00:41:49,920 --> 00:41:53,040
Speaker 4: stock and raised capital was with the vision that hey,

906
00:41:53,120 --> 00:41:56,560
Speaker 4: once America goes legal, it opens up all the growers

907
00:41:56,560 --> 00:41:58,239
Speaker 4: in Canada to be able to sell their way down

908
00:41:58,280 --> 00:42:00,759
Speaker 4: to here. Et cetera, et cetera, et cetera. Hasn't happened. Now,

909
00:42:01,000 --> 00:42:03,520
Speaker 4: Why do I think the till Ray is not a

910
00:42:03,600 --> 00:42:07,799
Speaker 4: solid investment. Several reasons. One, they're burning through cash and

911
00:42:08,560 --> 00:42:10,399
Speaker 4: the only way they can grow right now, they can't

912
00:42:10,440 --> 00:42:13,239
Speaker 4: grow anymore in California, I'm sorry. In Canada, they have

913
00:42:13,360 --> 00:42:16,799
Speaker 4: to acquire other companies, right they have enough cash, they're

914
00:42:16,840 --> 00:42:19,800
Speaker 4: burning through cash, so they'll take on hundreds of millions

915
00:42:19,840 --> 00:42:22,399
Speaker 4: of dollars of medmen's debt. Well, that one to shit,

916
00:42:22,840 --> 00:42:24,520
Speaker 4: you know the way that at least I understand it.

917
00:42:24,840 --> 00:42:27,400
Speaker 4: Then they started looking at alcohol and they started acquiring

918
00:42:28,680 --> 00:42:33,600
Speaker 4: large stakes in different alcohol, non THHC, just regular alcohol brands,

919
00:42:34,000 --> 00:42:38,160
Speaker 4: and that actually ended up getting them solvent. They're actually

920
00:42:38,200 --> 00:42:40,319
Speaker 4: have decent cash flow and if you just looked at

921
00:42:40,360 --> 00:42:43,879
Speaker 4: them as an alcohol company, they're doing well. But they

922
00:42:43,920 --> 00:42:45,719
Speaker 4: still want to be in the cannabis space. They still

923
00:42:45,719 --> 00:42:47,560
Speaker 4: want to be relevant in the cannabis space. They believe

924
00:42:47,600 --> 00:42:51,400
Speaker 4: in those opportunities. And I think you know, to me,

925
00:42:51,560 --> 00:42:54,640
Speaker 4: proof is in the putting past performance. There's this there's

926
00:42:54,680 --> 00:42:57,880
Speaker 4: this disclaimer whenever you buy any investment, pass performance is

927
00:42:57,920 --> 00:43:01,480
Speaker 4: not a guarantee of future results, but past performance is

928
00:43:01,480 --> 00:43:04,120
Speaker 4: going to be a good indicator of future results. You

929
00:43:04,120 --> 00:43:06,399
Speaker 4: follow where I'm going with this, of course, and if

930
00:43:06,400 --> 00:43:09,200
Speaker 4: you look at you know what they're doing right now.

931
00:43:09,560 --> 00:43:13,520
Speaker 4: They burn through eighteen million in cash from its day

932
00:43:13,560 --> 00:43:17,040
Speaker 4: to day operating activities just in a twelve month period. Okay,

933
00:43:17,280 --> 00:43:21,000
Speaker 4: this doesn't factor into capital expenditures, growth related activities, et cetera.

934
00:43:21,120 --> 00:43:25,719
Speaker 4: So they're burning through cash because they're going into alcohol.

935
00:43:25,880 --> 00:43:29,040
Speaker 4: They had a vision we're going all in on cannabis, right,

936
00:43:29,120 --> 00:43:31,280
Speaker 4: that's now kind of fell apart. They're back to alcohol.

937
00:43:31,680 --> 00:43:33,840
Speaker 4: So to me, it's like, you know, you can't be

938
00:43:34,000 --> 00:43:37,320
Speaker 4: like that old in the movies, the dude on time scores,

939
00:43:37,320 --> 00:43:38,480
Speaker 4: Like what do you want a gold watch? I got

940
00:43:38,480 --> 00:43:39,719
Speaker 4: one right here. You want to want to gold plate,

941
00:43:39,719 --> 00:43:41,360
Speaker 4: to toothbrush, I got one right here. You want toilet

942
00:43:41,400 --> 00:43:43,320
Speaker 4: paper roller, I got one right here. So you can't

943
00:43:43,320 --> 00:43:45,920
Speaker 4: be a jack of all trades. And you know, especially

944
00:43:46,320 --> 00:43:50,560
Speaker 4: when you talk about the ATF the alcohol, So is

945
00:43:50,600 --> 00:43:52,279
Speaker 4: it a you know, cannabis product or you do an

946
00:43:52,280 --> 00:43:55,719
Speaker 4: alcohol And obviously in California right now, and I think

947
00:43:55,760 --> 00:43:58,560
Speaker 4: most of the most of the legalized states, you can't

948
00:43:58,600 --> 00:44:02,520
Speaker 4: sell alcohol and can out of the same facility. Even

949
00:44:02,560 --> 00:44:06,000
Speaker 4: the consumption bars they have different you know, uh permits,

950
00:44:06,160 --> 00:44:08,600
Speaker 4: permits or you have to have different addresses, et cetera,

951
00:44:08,600 --> 00:44:11,200
Speaker 4: et cetera. Right when we do festivals, you know, I've

952
00:44:11,320 --> 00:44:13,440
Speaker 4: learned now through being here that you know, the festival

953
00:44:13,480 --> 00:44:15,759
Speaker 4: address has to be different. If you have two facilities,

954
00:44:15,960 --> 00:44:18,160
Speaker 4: one can sell cannabis, one can sell alcohol, but you

955
00:44:18,200 --> 00:44:18,799
Speaker 4: can't do both.

956
00:44:18,840 --> 00:44:20,879
Speaker 3: Yeah, you have to have like the beer village designated,

957
00:44:21,640 --> 00:44:22,600
Speaker 3: have a permit.

958
00:44:22,320 --> 00:44:25,560
Speaker 4: For it exactly. Now. The reason I'm bringing that up is,

959
00:44:25,640 --> 00:44:27,359
Speaker 4: you know, if you take a company like that that's

960
00:44:27,360 --> 00:44:29,840
Speaker 4: putting all their eggs into now alcohol, I in cannabis,

961
00:44:30,080 --> 00:44:31,880
Speaker 4: and now it does become legalized here, they're gonna have

962
00:44:31,920 --> 00:44:34,440
Speaker 4: to make another decision because I have a feeling that

963
00:44:34,480 --> 00:44:38,040
Speaker 4: the regulators, and as as much as our Congress loves

964
00:44:38,080 --> 00:44:41,239
Speaker 4: to make up rules and pitfalls for companies, they're going

965
00:44:41,320 --> 00:44:42,959
Speaker 4: to make them pick and now these guys are gonna

966
00:44:42,960 --> 00:44:44,840
Speaker 4: have to burn through reverse cash. So that's my theory

967
00:44:44,840 --> 00:44:46,960
Speaker 4: on that. Did do you own any of it? I

968
00:44:47,000 --> 00:44:48,760
Speaker 4: know you you were active in some of these stocks.

969
00:44:48,760 --> 00:44:49,799
Speaker 4: Have you ever owned any of it?

970
00:44:50,080 --> 00:44:51,480
Speaker 2: No? Not of.

971
00:44:52,920 --> 00:44:55,200
Speaker 4: This company, No, Daniel, have you owned it before I

972
00:44:55,200 --> 00:45:00,279
Speaker 4: heard you talking about it? He's pulling up his mike

973
00:45:00,400 --> 00:45:02,720
Speaker 4: right here. But but this guy's probably got a bigger

974
00:45:02,719 --> 00:45:03,560
Speaker 4: portfolio than I do.

975
00:45:04,080 --> 00:45:08,319
Speaker 6: So technically, yeah, I did, Like a long time ago,

976
00:45:09,200 --> 00:45:14,600
Speaker 6: I did invest in Tillray. It wasn't a great idea unfortunately,

977
00:45:14,640 --> 00:45:17,200
Speaker 6: And I'm not telling anybody at home exactly, don't go

978
00:45:17,400 --> 00:45:19,239
Speaker 6: do this or do that before Like, I just got

979
00:45:19,280 --> 00:45:22,080
Speaker 6: out of it, and I actually ended up just staying

980
00:45:22,080 --> 00:45:25,600
Speaker 6: away from companies like that, you know. I ended up actually,

981
00:45:25,800 --> 00:45:27,480
Speaker 6: I don't know if you heard of Grow Generation.

982
00:45:27,719 --> 00:45:29,279
Speaker 4: Yeah, they are like.

983
00:45:29,280 --> 00:45:34,640
Speaker 6: A hydroponic They specialized in hydroponics. And right before the pandemic,

984
00:45:34,719 --> 00:45:38,880
Speaker 6: I I invested in you know, like probably fifty stocks

985
00:45:38,880 --> 00:45:41,080
Speaker 6: and then it ended up shooting like forty dollars each

986
00:45:41,120 --> 00:45:43,560
Speaker 6: one up. So I ended up cashing out from there.

987
00:45:43,600 --> 00:45:46,000
Speaker 6: And now we're up with the cryptocurrency.

988
00:45:46,040 --> 00:45:50,120
Speaker 4: Baby, here we go. How much if you were an

989
00:45:50,280 --> 00:45:52,359
Speaker 4: early adopter of till Ray, if you had to guess

990
00:45:52,400 --> 00:45:54,160
Speaker 4: off the top of your heads, how much do you

991
00:45:54,200 --> 00:45:56,320
Speaker 4: think the stock is down from its all time high?

992
00:45:56,440 --> 00:46:01,480
Speaker 4: It's probably it's probably worth don't look it up, just guess.

993
00:46:02,360 --> 00:46:04,840
Speaker 6: So when I bought it, it was, well, well, what

994
00:46:04,960 --> 00:46:05,640
Speaker 6: is it right now?

995
00:46:05,760 --> 00:46:07,960
Speaker 4: It's like a dollar eighteen If I'm not mistaken, it's like.

996
00:46:07,880 --> 00:46:09,440
Speaker 6: A dollar or something. Yeah, And I bought it it

997
00:46:09,520 --> 00:46:12,640
Speaker 6: was it was up there in like the tens. I think, yeah,

998
00:46:12,640 --> 00:46:14,399
Speaker 6: it's a dollar right now. You nailed it, brother, It's

999
00:46:14,440 --> 00:46:18,160
Speaker 6: actually down ninety percent, guys. Yeah, and there's very I

1000
00:46:18,200 --> 00:46:19,960
Speaker 6: forget what the stat was. Back when I was on

1001
00:46:20,000 --> 00:46:22,880
Speaker 6: a Wall Street there's this statistic that if a stock

1002
00:46:22,920 --> 00:46:26,319
Speaker 6: has fallen ninety percent, less than like three percent of

1003
00:46:26,320 --> 00:46:28,600
Speaker 6: them ever end up actually making a decent comeback.

1004
00:46:28,640 --> 00:46:30,399
Speaker 4: They'll bounce around up and down. But there's a reason

1005
00:46:30,440 --> 00:46:33,640
Speaker 4: somebody loses that. There was this great art article on

1006
00:46:33,719 --> 00:46:37,400
Speaker 4: Motley Full that I thought really put it into perspective,

1007
00:46:37,400 --> 00:46:38,799
Speaker 4: which covers a lot of what I just said, but

1008
00:46:38,800 --> 00:46:41,000
Speaker 4: it said till Ray hasn't been shy when it comes

1009
00:46:41,000 --> 00:46:44,319
Speaker 4: to acquisitions in Canada. It acquired Hexo, a problematic and

1010
00:46:44,400 --> 00:46:48,080
Speaker 4: unprofitable cannabis company, only for the sake of gaining market share.

1011
00:46:48,120 --> 00:46:50,040
Speaker 4: And you understand what that means. They bought shit that

1012
00:46:50,080 --> 00:46:52,400
Speaker 4: wasn't making money just so they could have more consumers.

1013
00:46:52,560 --> 00:46:54,680
Speaker 4: But you're buying a business model that's failing, so that

1014
00:46:54,680 --> 00:46:57,040
Speaker 4: that doesn't make sense to me unless you're really just

1015
00:46:57,160 --> 00:46:59,560
Speaker 4: chasing market share to the then drive up prices. But

1016
00:46:59,560 --> 00:47:01,799
Speaker 4: there's an no players in the industry. You're not going

1017
00:47:01,840 --> 00:47:05,680
Speaker 4: to monopolize the market in Canada's stupid In twenty twenty one,

1018
00:47:05,760 --> 00:47:08,880
Speaker 4: it acquired a majority position in convertible notes of multi

1019
00:47:08,880 --> 00:47:11,440
Speaker 4: state operator Medmen in the US and the hopes of

1020
00:47:11,440 --> 00:47:14,040
Speaker 4: one day potentially acquiring their business and using it as

1021
00:47:14,080 --> 00:47:17,480
Speaker 4: a way to expand into the United States. Medmen unfortunately

1022
00:47:17,719 --> 00:47:19,920
Speaker 4: turned out to be a bad investment another one and

1023
00:47:19,960 --> 00:47:22,759
Speaker 4: now appears to have serious liquidity issues, which means they're

1024
00:47:22,800 --> 00:47:24,719
Speaker 4: not going to be able to pay back that convertible debt,

1025
00:47:24,960 --> 00:47:28,640
Speaker 4: and it reportedly owes employees money and has been closing stores.

1026
00:47:28,840 --> 00:47:31,080
Speaker 4: The danger is that till Ray hasn't exactly been a

1027
00:47:31,080 --> 00:47:33,279
Speaker 4: great judge of cannabis business in the past, even though

1028
00:47:33,280 --> 00:47:36,080
Speaker 4: it's Canada's stock, and if it were to pursue more

1029
00:47:36,160 --> 00:47:39,560
Speaker 4: risky acquisitions in the United States, that may exasperate its

1030
00:47:39,600 --> 00:47:42,840
Speaker 4: cash flow concerns and push back any hopes of profitability.

1031
00:47:42,880 --> 00:47:45,719
Speaker 4: As well. Acquiring businesses for the sake of growth in

1032
00:47:45,760 --> 00:47:49,680
Speaker 4: an already troubled industry would make wouldn't make till Ray

1033
00:47:49,719 --> 00:47:52,719
Speaker 4: a better bube and you know they close it out

1034
00:47:52,719 --> 00:47:55,520
Speaker 4: with You should stay scared of stay clear of the stock.

1035
00:47:55,880 --> 00:47:58,000
Speaker 4: It's fallen over ninety percent in the past three years.

1036
00:47:58,000 --> 00:48:01,880
Speaker 4: Investors should be careful not to assume even if I

1037
00:48:01,880 --> 00:48:04,239
Speaker 4: mean if us, if we said, hey, next year it's

1038
00:48:04,239 --> 00:48:06,200
Speaker 4: going full legal, then yeah, I would bang. I would

1039
00:48:06,239 --> 00:48:08,120
Speaker 4: put a little bit into it, for sure. But the

1040
00:48:08,160 --> 00:48:09,959
Speaker 4: way things are going and as much of the crap

1041
00:48:10,000 --> 00:48:11,319
Speaker 4: we got to deal with in this country, it just

1042
00:48:11,360 --> 00:48:14,000
Speaker 4: doesn't seem like it's a priority anymore for the politicians.

1043
00:48:14,239 --> 00:48:17,560
Speaker 4: They're going after different fear tactics to get their votes

1044
00:48:17,560 --> 00:48:21,520
Speaker 4: on both sides. So I don't see cannabis legalization happening

1045
00:48:21,600 --> 00:48:24,320
Speaker 4: in this administration nor in the next three to four years. Personally,

1046
00:48:24,719 --> 00:48:26,640
Speaker 4: I think you're going to see more states go and

1047
00:48:26,719 --> 00:48:30,360
Speaker 4: I think there's going to be tremendous opportunity in individual

1048
00:48:30,440 --> 00:48:34,400
Speaker 4: states like Ohio, Tennessee, Dallas, et cetera. But I just

1049
00:48:34,560 --> 00:48:37,319
Speaker 4: don't see it happening federally for the time being. Yeah,

1050
00:48:37,320 --> 00:48:41,320
Speaker 4: I think like ten years, fifteen years, God, that sounds

1051
00:48:41,320 --> 00:48:44,640
Speaker 4: like a lifetime away. Yeah, that's realistically realistical thing.

1052
00:48:44,760 --> 00:48:48,560
Speaker 3: That's yeah, based on all of the events that have

1053
00:48:48,600 --> 00:48:52,000
Speaker 3: happened in the past ten years, we'll say, you would

1054
00:48:52,000 --> 00:48:54,799
Speaker 3: think that they would have gotten it cooking from twenty

1055
00:48:54,880 --> 00:48:57,799
Speaker 3: fourteen to twenty twenty four Yeah, but they ain't fully

1056
00:48:57,800 --> 00:48:58,319
Speaker 3: cooking yet.

1057
00:48:58,360 --> 00:49:00,239
Speaker 4: No, no, and it is. And I think if there

1058
00:49:00,400 --> 00:49:02,520
Speaker 4: was you know, as much hype as was around this

1059
00:49:02,600 --> 00:49:05,640
Speaker 4: current administration or even Obama where it was like, hey,

1060
00:49:05,680 --> 00:49:08,319
Speaker 4: we want to let people out for you know, misdemeanor

1061
00:49:09,000 --> 00:49:11,440
Speaker 4: marijuana blah blah blah, neither of them did it. Nobody

1062
00:49:11,480 --> 00:49:13,600
Speaker 4: did it. Trump didn't do it, Obama didn't do it.

1063
00:49:13,800 --> 00:49:16,520
Speaker 4: Clinton was the one that started the problems and privatized prisons.

1064
00:49:16,560 --> 00:49:19,120
Speaker 4: But again, another rabbit hole point is it ain't happening

1065
00:49:19,160 --> 00:49:21,200
Speaker 4: anytime soon. And that's why till raising good now. I

1066
00:49:21,200 --> 00:49:25,040
Speaker 4: brought up that individual stock for several reasons. One obviously,

1067
00:49:25,320 --> 00:49:28,120
Speaker 4: in my opinion, and again this is completely my personal opinion.

1068
00:49:28,320 --> 00:49:31,040
Speaker 4: I could be completely wrong, but it's not. It's not

1069
00:49:31,080 --> 00:49:32,920
Speaker 4: anywhere close to the stock that I would put in

1070
00:49:33,480 --> 00:49:36,799
Speaker 4: my in my horizon of purchased. But the lessons learned here,

1071
00:49:36,800 --> 00:49:39,040
Speaker 4: and how does a company that's worth billions of dollars

1072
00:49:39,160 --> 00:49:41,400
Speaker 4: make their stock go down ninety percent when you're in

1073
00:49:41,400 --> 00:49:42,640
Speaker 4: the drug game. I mean, at the end of the day,

1074
00:49:42,640 --> 00:49:44,680
Speaker 4: you're in the marijuana business and you're losing ninety percent,

1075
00:49:44,920 --> 00:49:47,840
Speaker 4: it's because you made bad business decisions, right, you weren't

1076
00:49:47,880 --> 00:49:50,560
Speaker 4: you weren't surrounded by the right people that are crunching numbers,

1077
00:49:51,000 --> 00:49:53,960
Speaker 4: and someone like you who's you know, never worked at

1078
00:49:53,960 --> 00:49:56,359
Speaker 4: a Wall Street firm, hasn't had a multi billion dollar

1079
00:49:56,480 --> 00:49:59,160
Speaker 4: company ever. But it's just common sense. Why would you

1080
00:49:59,200 --> 00:50:03,240
Speaker 4: invest into another company that's losing money just to acquire

1081
00:50:03,280 --> 00:50:06,560
Speaker 4: their customer base if you have a product that's not unique.

1082
00:50:06,600 --> 00:50:08,640
Speaker 4: It's not like you invented weed. It's not like you're

1083
00:50:08,680 --> 00:50:11,719
Speaker 4: the only company that can sell cannabis in Canada. So

1084
00:50:11,760 --> 00:50:15,080
Speaker 4: in my opinion, it becomes a very bad poor choice.

1085
00:50:15,520 --> 00:50:17,680
Speaker 4: And then when you talk about convertible debt with medmen,

1086
00:50:17,800 --> 00:50:20,040
Speaker 4: I didn't know their numbers enough to really look through that.

1087
00:50:20,280 --> 00:50:22,799
Speaker 4: But now when you see another strike two on them.

1088
00:50:23,520 --> 00:50:25,840
Speaker 4: Usually when you see two strikes on a big company

1089
00:50:25,880 --> 00:50:27,239
Speaker 4: like that, you're not going to see a third strike.

1090
00:50:27,320 --> 00:50:29,560
Speaker 4: So there's a lot of lessons to be learned by

1091
00:50:29,600 --> 00:50:32,880
Speaker 4: analyzing different news articles like this, Right, even if you

1092
00:50:32,920 --> 00:50:35,560
Speaker 4: have no intention of investing in the stock market, even

1093
00:50:35,560 --> 00:50:38,040
Speaker 4: if you have no intention of investing in the cannabis industry.

1094
00:50:38,400 --> 00:50:40,880
Speaker 4: I think by putting yourself out there, just look at

1095
00:50:40,920 --> 00:50:43,279
Speaker 4: the top news stories on any given day, I could

1096
00:50:43,320 --> 00:50:46,600
Speaker 4: create years worth of content in just one month by

1097
00:50:46,680 --> 00:50:48,600
Speaker 4: just looking at different articles and be like, all right,

1098
00:50:48,640 --> 00:50:51,080
Speaker 4: what's the real agenda here? What can I learn from

1099
00:50:51,080 --> 00:50:53,120
Speaker 4: this that will allow me to save money? And what's

1100
00:50:53,200 --> 00:50:56,200
Speaker 4: the opportunities that I can teach other people? Totally cool?

1101
00:50:56,680 --> 00:50:59,160
Speaker 4: Do you have any hot stock picks or what are

1102
00:50:59,160 --> 00:50:59,840
Speaker 4: you putting your money in?

1103
00:51:00,080 --> 00:51:00,160
Speaker 3: Now?

1104
00:51:00,200 --> 00:51:03,120
Speaker 4: If you had five grand, what are you investing in? Well?

1105
00:51:03,560 --> 00:51:06,640
Speaker 3: I want to look at getting in some of the

1106
00:51:06,680 --> 00:51:10,080
Speaker 3: money markets because I see some high yield rates right now.

1107
00:51:12,600 --> 00:51:15,560
Speaker 3: You know, I've got some investments in some solar stocks

1108
00:51:15,880 --> 00:51:19,560
Speaker 3: and all that, but you know I've I've got to

1109
00:51:19,560 --> 00:51:21,879
Speaker 3: save up some more to be able to make a real,

1110
00:51:22,320 --> 00:51:25,799
Speaker 3: real investment. So I've kind of just got a few

1111
00:51:25,800 --> 00:51:27,760
Speaker 3: things here and there in a portfolio, but nothing.

1112
00:51:27,880 --> 00:51:29,600
Speaker 4: Well, I'm going to tee up. I'm going to tee

1113
00:51:29,680 --> 00:51:31,640
Speaker 4: up something. And I appreciate you saying that, because you've

1114
00:51:31,640 --> 00:51:33,919
Speaker 4: got me thinking. I always love ending the show on

1115
00:51:34,080 --> 00:51:36,920
Speaker 4: an immediate action that some of you, if not all,

1116
00:51:37,360 --> 00:51:38,960
Speaker 4: not all of you, but some of you can take

1117
00:51:39,040 --> 00:51:41,680
Speaker 4: right now that you can take from the show go

1118
00:51:42,000 --> 00:51:44,280
Speaker 4: and create free money for yourself. You like free money,

1119
00:51:44,440 --> 00:51:47,400
Speaker 4: We love it. So he pointed out something right now,

1120
00:51:47,440 --> 00:51:50,279
Speaker 4: high yield money markets. As for the past twenty years

1121
00:51:50,280 --> 00:51:52,239
Speaker 4: interest rates in this book, I take that back for

1122
00:51:52,280 --> 00:51:55,359
Speaker 4: the past ten years. Ever, since September eleven, interest rates

1123
00:51:55,360 --> 00:51:57,359
Speaker 4: at this in this country have been close to zero.

1124
00:51:58,239 --> 00:52:00,000
Speaker 4: Even if you're getting a CD or a money mark

1125
00:52:00,000 --> 00:52:01,839
Speaker 4: market or newly paying you two to three percent, you're

1126
00:52:01,840 --> 00:52:04,640
Speaker 4: paying taxes on that at ordinary income tax, which most

1127
00:52:04,680 --> 00:52:06,839
Speaker 4: people don't know that that's what interest income is, which

1128
00:52:06,920 --> 00:52:09,200
Speaker 4: is the highest tax income that you can make. So

1129
00:52:09,280 --> 00:52:11,560
Speaker 4: when you are making like two to three percent locking

1130
00:52:11,640 --> 00:52:13,839
Speaker 4: up your money for five years in a CD, you're

1131
00:52:13,880 --> 00:52:16,279
Speaker 4: taking home maybe one to two percent. Right now, for

1132
00:52:16,320 --> 00:52:19,640
Speaker 4: the first time because of inflation, interest rates are almost

1133
00:52:19,719 --> 00:52:22,760
Speaker 4: approaching double digits right There's some high yield money markets

1134
00:52:22,760 --> 00:52:25,160
Speaker 4: paying five to six if you lock up your money

1135
00:52:25,200 --> 00:52:27,239
Speaker 4: on an internet bank, be careful on those, make sure

1136
00:52:27,239 --> 00:52:30,080
Speaker 4: they're correctly FDIC insured. And by the way, money market

1137
00:52:30,080 --> 00:52:32,920
Speaker 4: funds are not FDIC insured, so there's something to be

1138
00:52:33,000 --> 00:52:37,120
Speaker 4: cautions off. But there's there's really safe, very safe ways

1139
00:52:37,120 --> 00:52:39,240
Speaker 4: to make seven to nine percent on your money right now.

1140
00:52:39,400 --> 00:52:41,200
Speaker 4: And there's still if you have good credit, if you

1141
00:52:41,239 --> 00:52:43,720
Speaker 4: have good income, or if you have decent credit good income,

1142
00:52:44,040 --> 00:52:46,520
Speaker 4: there are some cards or credit lines offering you money

1143
00:52:46,560 --> 00:52:49,040
Speaker 4: two to three percent, and guys, it's the easiest way

1144
00:52:49,040 --> 00:52:51,719
Speaker 4: to make money in this country, which is called natural arbitrage.

1145
00:52:51,800 --> 00:52:53,960
Speaker 4: So if you have something paying you seven percent, you

1146
00:52:54,000 --> 00:52:56,040
Speaker 4: have something else paying you know, prompt you can borrow

1147
00:52:56,040 --> 00:52:58,520
Speaker 4: money at two percent, make it at seven percent without

1148
00:52:58,520 --> 00:53:00,600
Speaker 4: taking risk. That's five percent or free money that you

1149
00:53:00,640 --> 00:53:03,440
Speaker 4: can take. Right. So, if you do have the ability

1150
00:53:03,480 --> 00:53:05,160
Speaker 4: to pull money out of your house an equity line,

1151
00:53:05,239 --> 00:53:06,879
Speaker 4: you're a senior citizen, you don't want to take any

1152
00:53:06,920 --> 00:53:09,000
Speaker 4: risk in the market or anything else like that. There

1153
00:53:09,040 --> 00:53:11,160
Speaker 4: are very creative ways that you can borrow money at

1154
00:53:11,200 --> 00:53:13,319
Speaker 4: a cheap rate and lock it up for a year

1155
00:53:13,360 --> 00:53:15,359
Speaker 4: or two in a CD and just take that extra money.

1156
00:53:15,520 --> 00:53:18,600
Speaker 4: Just called the arbitrage. Google it arbitrage. Very simple concept.

1157
00:53:18,760 --> 00:53:21,120
Speaker 5: It's critical now and.

1158
00:53:21,040 --> 00:53:23,680
Speaker 4: It only works right now. Right because again with interest

1159
00:53:23,719 --> 00:53:25,720
Speaker 4: rates being for the past, you know, in the past

1160
00:53:25,760 --> 00:53:28,680
Speaker 4: fifteen what gosh, it's been twenty two years in September eleventh,

1161
00:53:28,880 --> 00:53:31,480
Speaker 4: so twenty two, twenty three, twenty four years interest rates

1162
00:53:31,520 --> 00:53:33,360
Speaker 4: have been at zero and now they're all all of

1163
00:53:33,400 --> 00:53:36,600
Speaker 4: a sudden quadruples and quad tuple or whatever. You're closer

1164
00:53:36,680 --> 00:53:38,719
Speaker 4: to seven eight nine. You take a little bit of

1165
00:53:38,800 --> 00:53:40,960
Speaker 4: risk and get eight nine percent and some really secured

1166
00:53:41,040 --> 00:53:44,000
Speaker 4: lending funds. But guys, look into it. I always like

1167
00:53:44,040 --> 00:53:46,600
Speaker 4: to show you opportunities. Can anything else you want to

1168
00:53:46,600 --> 00:53:47,760
Speaker 4: add before we close out.

1169
00:53:48,120 --> 00:53:49,080
Speaker 5: Just thank you for having me on.

1170
00:53:49,120 --> 00:53:52,919
Speaker 4: It's always a pleasure rapping with you. Well listen, man,

1171
00:53:53,000 --> 00:53:56,120
Speaker 4: I appreciate you being here, and more importantly, I appreciate

1172
00:53:56,160 --> 00:53:58,040
Speaker 4: the entire staff here again of his talk one oh

1173
00:53:58,080 --> 00:54:00,560
Speaker 4: one at somebody that you know, we're almost coaching about

1174
00:54:00,560 --> 00:54:02,799
Speaker 4: a year shows and I always try to pick a

1175
00:54:02,840 --> 00:54:05,480
Speaker 4: crew of people that have been helping me out us today.

1176
00:54:05,480 --> 00:54:07,040
Speaker 4: Since you're on here, I want to shout out to

1177
00:54:07,040 --> 00:54:11,360
Speaker 4: the entire production crew from you, Diego Connor, the girls

1178
00:54:11,400 --> 00:54:17,319
Speaker 4: up front, Jennugal, Gemma, Jen Jenna, Jenna, I believe looking

1179
00:54:17,360 --> 00:54:19,920
Speaker 4: forward to having her on the show, Dan incurring Her

1180
00:54:20,040 --> 00:54:23,160
Speaker 4: Daniels and of course Erica out There a lot of

1181
00:54:23,200 --> 00:54:25,440
Speaker 4: people behind the scenes that make the magic here. Guys.

1182
00:54:25,640 --> 00:54:27,640
Speaker 4: I appreciate you guys listening. Thank you for listening to

1183
00:54:27,719 --> 00:54:30,240
Speaker 4: Financial Fridays here on iHeartRadio c T one on one.

1184
00:54:30,440 --> 00:54:33,000
Speaker 4: I'm Tony Kaan. You can always find me on Instagram

1185
00:54:33,160 --> 00:54:37,480
Speaker 4: at the Insider and remember Bah good God. The Insider Investor.

1186
00:54:38,239 --> 00:54:40,439
Speaker 4: Remember to keep that walllet tight, keep your mind right.

1187
00:54:40,440 --> 00:54:43,080
Speaker 4: I'm going to see you next Friday on Financial Fridays.

1188
00:54:43,480 --> 00:54:46,320
Speaker 2: Thank you for listening to Financial Fridays with the Insider

1189
00:54:46,400 --> 00:54:50,040
Speaker 2: Investor Tony Ka on Cannabis Talk one oh one, the

1190
00:54:50,160 --> 00:54:54,120
Speaker 2: world's number one source for everything cannabis