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Trading is 0:00:26.000 --> 0:00:28.720 offered through an account with robin Hood Financial LLC member SIPC, 0:00:28.960 --> 0:00:30.040 a registered broker dealer. 0:00:52.000 --> 0:00:56.040 Back Dah's episode five on Your Leisure Podcasts, Thank you 0:00:56.040 --> 0:00:57.080 Again called us a portal. 0:00:57.160 --> 0:00:59.960 The feedback keep sending us in with the suggestions. 0:01:00.480 --> 0:01:03.120 We greatly appreciate it, and we'll try to get into 0:01:03.160 --> 0:01:04.920 our definitely into our topics. 0:01:05.440 --> 0:01:08.759 We're gonna start right away with maybe of silence. 0:01:08.760 --> 0:01:13.679 Man here, so we're going to talk about snapchat. Snapchat 0:01:13.760 --> 0:01:19.560 is interesting for a few different reasons. But yeah, he 0:01:19.600 --> 0:01:21.520 said a moment of silence because we you know, we said, 0:01:21.560 --> 0:01:22.280 like the death. 0:01:22.040 --> 0:01:23.160 Of Snapchat definitely. 0:01:23.240 --> 0:01:26.720 Yeah, Snapchat something I never really was really keen on. 0:01:26.800 --> 0:01:28.440 I never really got on the snack. I never got 0:01:28.480 --> 0:01:31.800 on the Snapchat, but obviously it became very popular, especially 0:01:31.840 --> 0:01:37.039 amongst young people. Instagram kind of took the features a 0:01:37.080 --> 0:01:38.160 lot of it, most of it. 0:01:38.080 --> 0:01:41.120 So it becomes popular for that alone. Like, well, a 0:01:41.160 --> 0:01:43.720 couple of things. Number one was that it had the filters, 0:01:43.760 --> 0:01:46.399 Like most people even like that we're on Instagram will 0:01:46.440 --> 0:01:49.480 go to Snapchat to get the features, the filters and 0:01:49.480 --> 0:01:52.360 put them on their posts. But another thing that they had, 0:01:52.680 --> 0:01:55.800 which actually was against them later in the future, is 0:01:55.800 --> 0:01:58.320 that the pictures the content was only available for a 0:01:58.360 --> 0:01:59.160 short period of time. 0:01:59.120 --> 0:02:01.240 Yeah, twenty four hours and then like disappeared and stuff 0:02:01.280 --> 0:02:04.240 like that. So all right, so Snapchat. Before we even 0:02:04.240 --> 0:02:06.000 saw talking about Snapchat, we got to go back to 0:02:06.040 --> 0:02:09.400 the last episode we talked about Kylie Jenner, So she 0:02:09.480 --> 0:02:12.120 plays a major part in Snapchat as well, because about 0:02:12.120 --> 0:02:15.960 a year ago, year and a half ago, she had 0:02:15.960 --> 0:02:20.280 an issue with Snapchat and she tweeted pretty negative tweet 0:02:20.320 --> 0:02:23.800 about Snapchat and that right after she tweeted that, the 0:02:23.880 --> 0:02:25.560 stock price dropped six percent. 0:02:25.760 --> 0:02:28.240 Yeah, it was their owndoing though, like I think they 0:02:28.760 --> 0:02:31.160 had an update. They updated and it changed the design 0:02:31.240 --> 0:02:32.200 of change the design. 0:02:32.720 --> 0:02:35.960 So she tweets that she's leaving pretty much or she's 0:02:35.960 --> 0:02:38.720 not feeling Snapchat anymore, and it's the stock price dropped 0:02:38.760 --> 0:02:41.840 six percent the next day. This is crazy, which equals 0:02:41.840 --> 0:02:45.720 a one point three billion dollar drop. So she she 0:02:46.919 --> 0:02:49.960 dropped the company's value one point three billion dollars in 0:02:50.040 --> 0:02:56.440 one day off of one tweet. Pretty powerful. So the 0:02:56.520 --> 0:02:59.920 first quarter of twenty eighteen, Snapchat had one hundred and 0:03:00.040 --> 0:03:03.480 eighty one million users. Second quarter of twenty eighteen, they 0:03:03.520 --> 0:03:06.320 had one hundred and eighty eight million users, So they 0:03:06.320 --> 0:03:11.040 were on a steady decline. They had a study that 0:03:11.080 --> 0:03:13.480 said forty percent of their staffers were planning to leave. 0:03:13.760 --> 0:03:15.880 They have three thousand employees. Forty percent of their staffers 0:03:15.919 --> 0:03:18.200 are playing the lead, which is almost half of their employees. 0:03:19.520 --> 0:03:22.160 They still haven't made a profit yet. Yeah, they made 0:03:22.560 --> 0:03:25.799 They haven't made a profit yet, right, And that's interesting too. 0:03:25.919 --> 0:03:27.320 Not to go off topic, but a lot of these 0:03:27.360 --> 0:03:30.919 companies that we see are not profitable and have never 0:03:30.960 --> 0:03:32.959 been profitable. So if you look at it from like 0:03:33.000 --> 0:03:35.240 a small business standpoint, it's like a small business, you 0:03:35.240 --> 0:03:37.160 can't run a bakery if you've never made a profit. 0:03:37.560 --> 0:03:40.480 But a lot of these multi billion dollar companies have 0:03:40.600 --> 0:03:42.640 never made a profit, and they've been in existence for 0:03:42.680 --> 0:03:46.960 five years, six years, so it's interesting, like Uber or lyft, 0:03:48.200 --> 0:03:52.680 so all right, so, but the interesting thing about it 0:03:52.720 --> 0:03:57.280 is that it was looking like the death of Snapchat. Right, 0:03:57.920 --> 0:04:02.440 They was looking good at all twenty eighteen, But towards 0:04:02.480 --> 0:04:04.600 the end of twenty eighteen they were able to actually 0:04:04.600 --> 0:04:10.080 pull themselves together and they're kind of stable. They stopped 0:04:10.120 --> 0:04:13.520 losing users. So now people are saying, is this the 0:04:13.560 --> 0:04:17.160 rebirth of Snapchat? Kind of like Twitter? Like Twitter was 0:04:17.360 --> 0:04:20.279 kind of went through a similar situation where for a 0:04:20.279 --> 0:04:24.760 while people kind of thought they were dead and they 0:04:24.839 --> 0:04:30.279 had a resurgence and now you know, Twitter is moving 0:04:30.320 --> 0:04:32.839 up again. But Snapchat still has a lot of problems. 0:04:32.839 --> 0:04:38.239 Though they have a lot of debt. They they still 0:04:38.520 --> 0:04:41.719 haven't fully understood how to monetize their system yet because 0:04:41.720 --> 0:04:46.360 they're not profitable, and they have their biggest competitor, which 0:04:46.400 --> 0:04:50.640 is Facebook. Right, so Facebook, Facebook is interested in the 0:04:50.680 --> 0:04:54.640 social media game because we've seen them take over and 0:04:55.240 --> 0:04:59.279 like we talked last episode about Amazon, Facebook might be 0:04:59.320 --> 0:05:03.400 the Amazon of social media, right, So in twenty and thirteen, 0:05:03.960 --> 0:05:08.240 they they offer Snapchat three billion dollars to buy them out. 0:05:08.279 --> 0:05:11.080 I think it was like four billion, alright, three to four. 0:05:11.240 --> 0:05:14.640 They offered them that amount to buy them out, and 0:05:14.680 --> 0:05:16.320 they didn't take the deal. Now, the reason why I 0:05:16.360 --> 0:05:18.840 was interested is that the year before that, they paid 0:05:18.880 --> 0:05:21.160 one billion for Instagram exact right, and and interesting at 0:05:21.160 --> 0:05:22.800 the time they brought Instagram for one billion because I 0:05:22.800 --> 0:05:25.080 remember the guy CEO of Instagram at the time, he 0:05:25.120 --> 0:05:26.440 was on the cover of Forbes and they was like, 0:05:26.640 --> 0:05:29.080 Instagram gets brought and this is the early stages of Instagram. 0:05:29.480 --> 0:05:32.640 So obviously they had the vision to offer them one 0:05:32.680 --> 0:05:35.000 billion because it's actually a good deal looking at it now. 0:05:35.040 --> 0:05:37.080 But everybody was saying, why would you pay one billion 0:05:37.080 --> 0:05:38.880 for a company that never made any money? They asked 0:05:38.920 --> 0:05:42.600 the CEO, They said, Instagram has never made any money, 0:05:42.800 --> 0:05:44.760 and he said, that's not true. We just made a billion. 0:05:44.520 --> 0:05:47.680 Dollars, right, So you. 0:05:47.640 --> 0:05:49.000 Know, if you look at it from that standpoint, So 0:05:49.040 --> 0:05:52.840 they buy Instagram for one billion in twenty twelve, then 0:05:52.880 --> 0:05:56.280 they buy WhatsApp for nineteen billion, which is gonna buy 0:05:56.279 --> 0:05:59.080 it for the petitors in twenty fourteen. Now, people especially 0:05:59.120 --> 0:06:00.800 in the America, I don't think peop will fully understand 0:06:00.839 --> 0:06:05.359 the power of WhatsApp. But overseas WhatsApp is huge. Like overseas, 0:06:05.360 --> 0:06:07.400 everybody use WhatsApp, not. 0:06:07.320 --> 0:06:09.080 Just overseas, like people who have family. 0:06:09.200 --> 0:06:11.200 But what I'm saying, if you have, if you're trying to, 0:06:11.400 --> 0:06:14.720 because it's free and you know you can. You can 0:06:14.760 --> 0:06:17.680 do facetimes, you can do calls, you can do texts. 0:06:18.360 --> 0:06:20.000 Pretty much everything you do with a cell phone you 0:06:20.000 --> 0:06:23.840 can do through the WhatsApp. So they paid nineteen billion 0:06:23.880 --> 0:06:28.479 for WhatsApp. So when they offer Snap three billion, a 0:06:28.480 --> 0:06:31.040 lot of people were surprised that Snap turned it down. 0:06:31.160 --> 0:06:33.640 Said no, man, say, it's kind of. 0:06:33.560 --> 0:06:37.520 Hard to turn down three billion dollars. That's an interesting decision. 0:06:38.200 --> 0:06:41.839 But the risk that they run in that is to say, okay, 0:06:42.600 --> 0:06:45.239 either get down or lay down, right like mber Vine 0:06:46.160 --> 0:06:49.719 another moment of silence, so Vine people don't even remember 0:06:49.800 --> 0:06:50.320 Vine anymore. 0:06:50.360 --> 0:06:52.240 Yeah, they had the eight second clips. 0:06:51.880 --> 0:06:53.960 They had the eight second video clips. That was it. 0:06:54.080 --> 0:06:56.599 That was it day Yeah, and so like so like 0:06:57.200 --> 0:07:01.000 what happens is like Instagram and Facebook. Really they look 0:07:01.040 --> 0:07:03.080 at these features, they said, oh that's really cool. 0:07:03.360 --> 0:07:04.920 All right, the next update we're putting it. 0:07:04.800 --> 0:07:09.320 On they so, now that was so crazy. Vine Vine 0:07:09.400 --> 0:07:12.480 was all over the place. Within two months, Instagram took 0:07:12.560 --> 0:07:14.680 them out of business because they had eight second video clips. 0:07:14.720 --> 0:07:18.000 Instagram released ten second video I think fifteen first, I 0:07:18.040 --> 0:07:21.360 think it was ten. At first they took their It 0:07:21.400 --> 0:07:23.320 was disrespectful. It was like for one second more. 0:07:23.360 --> 0:07:24.560 Then they took the Snapchat filter. 0:07:24.680 --> 0:07:27.120 So no, no, no, I know, but I'm I'm saying that 0:07:27.240 --> 0:07:30.080 Vine thing happened within three months and there were no 0:07:30.120 --> 0:07:34.320 more Vine great. So then they took Snapchats filters and 0:07:34.360 --> 0:07:40.000 the stories and the thing pretty much everything. No apology. Yeah, 0:07:40.040 --> 0:07:43.280 and Snapchat has struggled since, right. 0:07:43.160 --> 0:07:45.280 You know. But there's an interesting thing also in Snapchat. 0:07:45.280 --> 0:07:48.200 In twenty sixteen, they get off with another deal from 0:07:48.200 --> 0:07:53.240 this company named Google thirty billion. You know what, they say, no, 0:07:54.640 --> 0:07:59.800 say no again, wow, thirty billion. This time Google was like, listen, face, 0:08:00.000 --> 0:08:03.080 look is all competitive. They have Instagram. What's that We're 0:08:03.080 --> 0:08:05.760 gonna try to We're gonna throw more money at them 0:08:06.040 --> 0:08:08.560 and offer them this and again they say no. 0:08:10.720 --> 0:08:13.600 Wow, Well there you have it. I mean. The interesting 0:08:13.640 --> 0:08:15.680 thing is that the stock ip old a few years 0:08:15.720 --> 0:08:19.720 ago at twenty seven dollars. Now it's at nine dollars. 0:08:20.680 --> 0:08:22.440 Yeah, I mean a couple of things work again. 0:08:22.520 --> 0:08:24.280 So like when it started, it was like cool to 0:08:24.280 --> 0:08:26.960 have your content disappear, right, But what's happening is that 0:08:27.520 --> 0:08:30.960 social media influences, like on Instagram, it actually works for 0:08:31.000 --> 0:08:33.040 your benefit now because people can go back in time 0:08:33.080 --> 0:08:33.520 and look. 0:08:33.480 --> 0:08:35.320 I don't know how you market it on I don't 0:08:35.320 --> 0:08:37.600 know how you market yourself on Snapchat because it's it's 0:08:37.720 --> 0:08:40.800 such it's so disposable, right, it doesn't stay. 0:08:40.679 --> 0:08:43.480 Like, how could somebody look back at what you were 0:08:43.520 --> 0:08:44.040 trying to say? 0:08:44.360 --> 0:08:47.719 If it's gone, they have challenges. But the stock from 0:08:47.760 --> 0:08:49.719 the stocks that go to twenty seven to nine, it's 0:08:49.760 --> 0:08:52.640 pretty disturbing. And actually last year they was actually contemplating 0:08:52.720 --> 0:08:54.760 taking it off the stock market and making private again, 0:08:55.000 --> 0:08:58.800 which hardy ever happened when that happen, Yeah, that hardly 0:08:58.840 --> 0:09:02.480 ever happened. So I don't know, man. Sometimes you know, 0:09:02.600 --> 0:09:07.959 it's we always talk about not selling and keeping your independence, 0:09:08.000 --> 0:09:10.600 and I respect that, but it's a thin line. Sometimes 0:09:10.600 --> 0:09:14.560 you have to know when to sell and reinvent yourself, right, 0:09:14.720 --> 0:09:17.120 Like it's a couple like Elon Musk is a perfect 0:09:17.120 --> 0:09:20.160 example of that, right, So he starts with PayPal. He 0:09:20.280 --> 0:09:23.160 sells PayPal I think for like two hundred million dollars. 0:09:23.880 --> 0:09:27.880 He flips that into SpaceX in Tesla. Now he's one 0:09:27.880 --> 0:09:29.960 of the richest people in the world. He could have 0:09:30.080 --> 0:09:32.280 just stayed with PayPal, but who knows if he would 0:09:32.320 --> 0:09:35.240 have reached the status that he's at now. Same thing 0:09:35.240 --> 0:09:38.880 with Mark Cuban, right, Mark Cuban has I forgot what 0:09:38.960 --> 0:09:41.559 his company was called, but it was a sports streaming type. 0:09:41.400 --> 0:09:43.240 Of h He was like one of the first guys who. 0:09:45.000 --> 0:09:48.560 Video for sports. Yeah, who buys it for a billion 0:09:48.600 --> 0:09:51.960 a couple billion. He flips that and he buys the 0:09:51.960 --> 0:09:55.679 Mavericks and a lot of other companies, and now he's Mark. 0:09:55.520 --> 0:09:59.040 Cuban, So buy more company. 0:09:59.160 --> 0:10:02.600 In business, sometimes you have to know. It's like fighting, right, 0:10:03.760 --> 0:10:05.320 you gotta know when to walk away. You gotta know 0:10:05.320 --> 0:10:05.800 when the fall. 0:10:05.880 --> 0:10:09.160 It's like poker, you should what's your analogy on the parties? 0:10:10.200 --> 0:10:15.720 You gotta leave nothing. So I used to go clubing 0:10:15.760 --> 0:10:18.800 a lot in my younger days. So I mastered the 0:10:19.040 --> 0:10:22.800 club scene, and I realized that nothing good happens after 0:10:22.800 --> 0:10:25.240 three am. That's when all the fights happened. 0:10:25.640 --> 0:10:27.040 When everything settled. 0:10:27.360 --> 0:10:30.920 Yeah, nothing happens at three four am. Right. You might 0:10:31.040 --> 0:10:34.679 leave a party at two and it might have a 0:10:34.760 --> 0:10:38.080 half an hour left of good partying, But you had 0:10:38.280 --> 0:10:41.000 two and a half hours, right, So the risk of 0:10:41.880 --> 0:10:46.320 having a half an hour left is not worth the Well, 0:10:46.360 --> 0:10:47.960 the reward of having a half an hour of a 0:10:47.960 --> 0:10:51.439 good party is not worth the tremendously bad things have 0:10:51.559 --> 0:10:54.880 to happen for that extra half an hour at your stay, 0:10:55.760 --> 0:10:58.000 so you have to leave. You have to leave the 0:10:58.000 --> 0:11:02.520 party at two am. So this is similar is sometimes 0:11:02.559 --> 0:11:06.040 you can stay at the party for too long and 0:11:06.360 --> 0:11:08.000 you know, you wake up next day and like, what 0:11:08.240 --> 0:11:10.680 did I do? So Snapchat, I don't know. What's an 0:11:10.679 --> 0:11:14.680 interesting story. We'll see, we'll follow it. But thirty billion, 0:11:16.360 --> 0:11:18.840 I don't know. That's tough. That's tough to turn down. Man, 0:11:19.120 --> 0:11:21.679 for a company that's never made any money and it's 0:11:21.679 --> 0:11:24.640 not projected to make any money anytime soon. Somebody offers 0:11:24.679 --> 0:11:26.560 you thirty billion you've never made a profit. 0:11:27.960 --> 0:11:28.920 Yeah, difficult. 0:11:28.920 --> 0:11:31.640 If somebody's gonna learn from this, hopefully them and then 0:11:31.880 --> 0:11:33.319 other companies will learn from it. 0:11:33.240 --> 0:11:39.320 Or it'll be a case study hard All right, Well, Snapchat, 0:11:39.520 --> 0:11:41.400 we'll see, we'll see what happens with snapchat. 0:11:42.920 --> 0:11:45.120 Okay, all right, we're gonna move to a new segment. 0:11:46.080 --> 0:11:48.000 Here's a little story that must be toold. 0:11:48.679 --> 0:11:51.240 Listen up, gangsters and honeys with your head done. 0:11:51.160 --> 0:11:53.240 The best story tell us stuff now right up myself. 0:11:53.400 --> 0:11:55.520 Gray out, its gray down, its gray out, it's gree douts. Right, 0:11:55.520 --> 0:11:58.720 we're gonna do this new segment is like you said, 0:11:58.760 --> 0:12:00.480 we'd like to go into some case study in some 0:12:00.640 --> 0:12:04.559 behind the scenes of sports entertainment that people don't really 0:12:04.640 --> 0:12:08.120 know about but probably should, and sometimes it gets swept 0:12:08.240 --> 0:12:11.959 under and overlooked. And today we want to talk about 0:12:12.240 --> 0:12:14.160 a gentleman named Junior Bridgeman. 0:12:15.360 --> 0:12:19.800 Yes, Junior Bridgeman. So, Junior Bridgeman is interesting for a 0:12:19.840 --> 0:12:22.480 few different reasons. Right, you probably never heard of him before, 0:12:23.040 --> 0:12:26.800 but he was an ex NBA player. He played from 0:12:26.920 --> 0:12:28.959 nineteen seventy five to nineteen eighty seven, so he had 0:12:28.960 --> 0:12:32.080 a pretty decent career. He played twelve years in the league. Journeyman. 0:12:32.480 --> 0:12:35.240 You know, he wasn't a star player, but six men 0:12:35.280 --> 0:12:38.840 at best, I think. Yeah. So at that point in time, 0:12:39.480 --> 0:12:43.360 NBA players, you know, they weren't making tremendous amounts of 0:12:43.400 --> 0:12:47.360 money and good income for that time frame, but nothing. 0:12:47.400 --> 0:12:49.720 How we know now one hundred million dollar contract stuff 0:12:49.760 --> 0:12:53.760 like that. It wasn't making that. So he actually reached 0:12:53.800 --> 0:12:56.599 his peak salary of three hundred and fifty thousand in 0:12:56.800 --> 0:13:00.720 nineteen eighty five. Right, So he's an interested person because 0:13:00.720 --> 0:13:02.800 a lot of times we talk about athletes and entertainers 0:13:02.800 --> 0:13:04.559 and how they make bad decisions with their money and 0:13:04.600 --> 0:13:06.320 they make a lot of money and then when they retire, 0:13:06.320 --> 0:13:09.040 they broke, they have to file for bankruptcy. So he 0:13:10.000 --> 0:13:12.600 as I said, you know, mid level player. He made 0:13:12.640 --> 0:13:15.760 decent money, but not a tremendous amount of money. So 0:13:16.080 --> 0:13:20.360 towards the tail end of his career, he starts planning 0:13:20.960 --> 0:13:24.280 for his future outside of basketball, right, because he knows 0:13:24.320 --> 0:13:26.240 that basketball is only going to last so long and 0:13:26.320 --> 0:13:27.400 it's going to run up eventually. 0:13:27.679 --> 0:13:30.880 He started starting not schedule in nineteen eighty five, so 0:13:31.520 --> 0:13:33.319 he was making three hundred and fifty thousand, but in 0:13:33.440 --> 0:13:35.319 the off seasons, he started a job like he was 0:13:35.360 --> 0:13:36.280 selling life insurance. 0:13:36.880 --> 0:13:39.439 Like most people think, like NBA player, like, what is 0:13:39.480 --> 0:13:41.720 he doing? Like he had to earn more income. 0:13:42.200 --> 0:13:44.880 Yeah, so he starts, so he gets introduced to the 0:13:44.960 --> 0:13:52.120 franchise game, right, fast through franchises, and he starts to 0:13:52.760 --> 0:13:58.960 study franchises in the off season, and he actually starts 0:13:59.040 --> 0:14:02.080 to work at a local Windy's. And this is interesting, right, 0:14:02.200 --> 0:14:05.079 So he starts to work at a local Windy's in 0:14:05.160 --> 0:14:10.640 the offseason. So at the time, it's kind of a 0:14:10.679 --> 0:14:13.320 weird situation because you have an NBA basketball player who's 0:14:13.360 --> 0:14:15.880 working in Windy's, right. But he didn't work in Windy's 0:14:15.880 --> 0:14:17.840 obviously because he needed the money. He worked in Wendy's 0:14:17.880 --> 0:14:20.280 because his plan was to buy a Windy's franchise and 0:14:20.360 --> 0:14:22.040 he wanted to learn that in the workings and the 0:14:22.120 --> 0:14:25.720 culture of the actual business. So he's figured what better 0:14:25.800 --> 0:14:28.320 way to learn about it than to actually work in 0:14:28.400 --> 0:14:30.880 the franchise, I think, or something like that. So he 0:14:30.920 --> 0:14:34.920 starts to work in Windy's. By Tommy retires, he has 0:14:35.360 --> 0:14:41.480 three Windys franchises. Right. In the next fifteen years, he 0:14:41.720 --> 0:14:46.520 turns those three Windy's franchises into one hundred and sixty 0:14:47.320 --> 0:14:51.720 Windys franchises and also one hundred and twenty Chiles franchises, 0:14:52.120 --> 0:14:55.680 So he had one hundred and sixty Windy's franchises, which 0:14:55.880 --> 0:15:02.080 made him the second largest franchisee holder for Wendy's in 0:15:02.160 --> 0:15:04.840 the world, No. In America, in the world. He owned 0:15:04.880 --> 0:15:08.280 the second amount, the second largest amount of Windy's in 0:15:08.360 --> 0:15:15.360 the world out of anybody. He also brought in another legend, well, 0:15:15.480 --> 0:15:20.080 an NBA legend, Chauncey billups to twenty thirteen, two thouand thirteen. 0:15:20.480 --> 0:15:22.520 Chauncey's at the tail end of his career but wants 0:15:22.560 --> 0:15:27.600 to go into the entrepreneur world and knows about bridgement, 0:15:27.640 --> 0:15:29.120 and he says, can you help me? 0:15:29.360 --> 0:15:33.480 Yeah, So him and Chauncey by thirty Wendy's. 0:15:33.800 --> 0:15:35.000 But not just thirty. 0:15:35.160 --> 0:15:38.960 So like they buy thirty Wendy's in the Saint Louis area, 0:15:38.960 --> 0:15:42.240 which pretty much is every Wendy's in Saint Louis. They 0:15:42.360 --> 0:15:46.080 buy in every restaurant in the city of Saint Louis. 0:15:46.640 --> 0:15:47.680 That's pretty remarkable. 0:15:47.840 --> 0:15:52.600 Yeah, So he ends up his last his biggest salary 0:15:52.640 --> 0:15:54.600 was still on your fifty thousand, right. He ends up 0:15:54.640 --> 0:15:58.840 owning one hundred and sixty Windy's, He one hundred and 0:15:58.920 --> 0:16:02.680 twenty Chilis, and he amasses a network for four hundred 0:16:02.720 --> 0:16:05.800 million in the process. But that's not the end of 0:16:05.840 --> 0:16:06.200 the story. 0:16:06.320 --> 0:16:08.960 No story gets better. So we're gonna go from city 0:16:09.280 --> 0:16:13.640 Saint Louis. In twenty sixteen, he wants to go bigger, 0:16:13.840 --> 0:16:17.200 bigger vision, so you know, he decides that he's gonna 0:16:17.240 --> 0:16:21.200 look into Coca Cola, and twenty sixteen he buys a company. 0:16:21.280 --> 0:16:24.080 He starts with a company Heartland Coca Cola Bottling, and 0:16:24.240 --> 0:16:28.320 that takes over the region of the midwest of Missouri, Kansas, Nebraska, 0:16:28.800 --> 0:16:32.000 and he becomes a distributor for Coca Cola in that region, right, 0:16:32.520 --> 0:16:34.120 and that gross is even more money. 0:16:34.480 --> 0:16:36.320 Okay, story doesn't that in there though. 0:16:37.320 --> 0:16:41.920 After that, he partners with a gentleman in Canada to 0:16:42.240 --> 0:16:46.720 take over Coca Cola Canada. So he went from Saint 0:16:46.760 --> 0:16:50.600 Louis to city to taking over Midwest region of distributing 0:16:51.360 --> 0:16:55.160 to taking over the country of Canada's bottling and distributing 0:16:55.200 --> 0:16:55.880 for Coca Cola. 0:16:56.880 --> 0:17:00.520 So he sells his win these franchises, right and buys 0:17:00.760 --> 0:17:07.280 Coca Cola distribution centers right in Canada, well in the Midwest. 0:17:07.280 --> 0:17:09.640 I think he has eighteen in Missouri, Kansas, Nebraska. 0:17:10.840 --> 0:17:14.800 And then from there he takes over the entire distribution 0:17:15.680 --> 0:17:19.040 facilities for Canada, which is crazy. And then right now 0:17:19.280 --> 0:17:22.080 like present day, I think he's in talk he might 0:17:22.160 --> 0:17:24.280 be the front runner to buy Sports Illustrated, Like it's 0:17:24.320 --> 0:17:27.119 off his heal. I think he him and Dan Gilbert, 0:17:27.160 --> 0:17:29.240 who is the owner of the Cleveland Paths, are like 0:17:29.280 --> 0:17:33.080 the finalists to buy the company. And he's leading Canada 0:17:33.119 --> 0:17:36.000 to buy Sports Illustrated, a magazine he probably hasn't been 0:17:36.040 --> 0:17:38.280 in but since maybe the eighties. 0:17:39.000 --> 0:17:42.720 So okay. So I heard Dane Dadd say something a 0:17:42.760 --> 0:17:45.119 few weeks ago. He said, y'all, y'all sell records. I 0:17:45.200 --> 0:17:47.800 sell companies, right, And that's kind of what we spoke 0:17:47.840 --> 0:17:51.720 about even with Snapchat as far as a lot of 0:17:51.840 --> 0:17:54.760 times in business, part of business is building a legacy, 0:17:54.880 --> 0:17:57.359 building a company and keeping it. But another part of 0:17:57.400 --> 0:18:00.520 it is building it and selling it and then moving 0:18:00.600 --> 0:18:04.480 on to the next thing. Right. So that's pretty much 0:18:04.560 --> 0:18:08.760 what he did. What he's doing, right, He's constantly moving 0:18:08.880 --> 0:18:14.480 up the ladder by leveraging his businesses. He's building businesses 0:18:14.600 --> 0:18:17.200 and then he's selling businesses. And another thing, it's interesting 0:18:17.359 --> 0:18:19.159 a boy his stories. A lot of time people, you know, 0:18:19.200 --> 0:18:21.960 they ask how do you become an entrepreneur? How do 0:18:22.000 --> 0:18:23.960 you start a business? You don't always necessarily have to 0:18:24.040 --> 0:18:25.639 start a business to be a business owner or to 0:18:25.680 --> 0:18:27.480 be an entrepreneur. Right, So he's an entrepreneur, he's a 0:18:27.480 --> 0:18:30.040 business owner, but it's not he doesn't own Wendy's, but 0:18:30.160 --> 0:18:33.200 he owns He owned a lot of them. He owns, 0:18:33.280 --> 0:18:36.520 you know, Coca Cola in a sense by owning different 0:18:36.960 --> 0:18:40.040 centers and distribution. It's not his company, but that's another 0:18:40.080 --> 0:18:44.120 way to go about it as well. Franchise's owning franchises. 0:18:44.200 --> 0:18:48.560 You know, lebron owns some Blaze pizzas. So we've seen 0:18:48.600 --> 0:18:51.240 this play before and that's one of the good things 0:18:51.280 --> 0:18:54.520 with you know, buying into an established business already is 0:18:54.560 --> 0:18:56.879 that you're not reinventing the wheel, right. They have a 0:18:56.960 --> 0:19:01.159 set formula in place, So that's another avenue, you know, 0:19:01.280 --> 0:19:04.760 if somebody is looking to get into business but they 0:19:04.800 --> 0:19:08.840 don't necessarily want to start everything from the ground up. 0:19:09.520 --> 0:19:11.840 It's good exactly and like he's. 0:19:11.720 --> 0:19:13.600 Like it's a play on words, but like hes. 0:19:14.880 --> 0:19:17.080 This episode is brought to you by P and C Bank. 0:19:17.480 --> 0:19:20.240 A lot of people think podcasts about work are boring, 0:19:20.480 --> 0:19:24.320 and sure they definitely can be, but understanding a professionals 0:19:24.400 --> 0:19:27.600 routine shows us how they achieve their success little by little, 0:19:28.040 --> 0:19:31.680 day after day. 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