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Speaker 1: This episode is brought to you by P and C Bank.

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Speaker 1: the PNC Financial Service Group, Inc. P and C Bank

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Speaker 1: National Association Member FDIC.

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Speaker 2: This episode is sponsored by Greenwood. My graduates from my

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Speaker 2: school being forced back drop Bank Drop Mike drop back

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Speaker 2: drop drops. All right, guys, welcome back, eyl. We are

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Speaker 2: in La Sunny, Los Angeles, and this is something that

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Speaker 2: we've been looking forward to for a while. It's gonna

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Speaker 2: be a dope conversation. So healthcare is actually fitting because

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Speaker 2: we just spoke about this on Market Monday's House, just

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Speaker 2: thinking healthcare is the biggest business in the world. It

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Speaker 2: makes up twenty four percent of the American budget, which

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Speaker 2: is the biggest by far. Second to that is the

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Speaker 2: military I think of like fifteen percent. So when you

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Speaker 2: think of businesses, a lot of time we think of

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Speaker 2: you know, a lot of different industries, but people don't

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Speaker 2: necessarily think of healthcare as a business. It is a business.

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Speaker 2: The biggest business is recession proof. It's everything proved, big business.

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Speaker 2: People always die, people always go to the hospital, people always,

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Speaker 2: you know, get sick. So it's one of the things

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Speaker 2: that has been around since the beginning of time, so

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Speaker 2: isn't going anywhere. So today we have the privilege of

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Speaker 2: speaking with not just any entrepreneur, an entrepreneur that has

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Speaker 2: been in the business for a very long period of

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Speaker 2: time and has been extremely successful. Tommy Duncan. So you

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Speaker 2: might have heard him when we when we mentioned his

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Speaker 2: name in the Rick Ross interview. He has a company

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Speaker 2: called jet Doc and Rick Ross is an investor. I

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Speaker 2: think he invested like a million dollars into the company, right,

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Speaker 2: and so we mentioned him during that interview and we

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Speaker 2: spoke about it briefly. But he has a vast career

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Speaker 2: in the health industry. He actually sold his first company

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Speaker 2: a while back need about a million million and a half.

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Speaker 2: And then he sold this other company and then did

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Speaker 2: a whole bunch more money. Yeah, over one hundred millions. Yeah, yeah,

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Speaker 2: for sure. So and now he started jet doc. So

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Speaker 2: it's a very interesting conversation, I'm sure, a very educational conversation.

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Speaker 2: And we'll be remiss if we didn't acknowledge our brother

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Speaker 2: Dame Dash, who we have a mutual relationship with. So

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Speaker 2: game actually just wrapped up a movie on Tommy's life

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Speaker 2: called The Prince of Detroit. So a shout out to

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Speaker 2: my brother, Dame Dash. We was at his house yesterday

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Speaker 2: and he showed us the trailer to the movie and

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Speaker 2: he was very excited about it. He's very excited about

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Speaker 2: you as an entrepreneur. You know, gave us some background information.

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Speaker 2: So shout out to Day. Yeah, shout out to Daan,

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Speaker 2: So first and foremost, thank you for joining us. Appreciate it.

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Speaker 3: Hey, No, it's good to be here, man, And it's

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Speaker 3: at Prince to Detroit film on IG Yeah, okay, yeah,

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Speaker 3: you gotta check it out. But here's something that's funny.

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Speaker 3: You talk about healthcare. It is by far the largest

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Speaker 3: economic injured in this country. But it's ugly money, so

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Speaker 3: no one really pays attention to pays attention to it.

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Speaker 3: You know, it's not entertainment anything sexy like that. But

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Speaker 3: I just got back from Paris for fashion Week, so

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Speaker 3: that the hottest show Balmon and I was there with

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Speaker 3: a group of ten couples which were the VIP clients

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Speaker 3: for the country, And out of those ten couples, at

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Speaker 3: least five of the dudes were in healthcare. So you

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Speaker 3: think about fashion, all this sexy shit. You know, Cardi's

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Speaker 3: there all set and all that stuff. Yeah, that's part

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Speaker 3: of it too. But the folks with the money is

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Speaker 3: actually spending in healthcare. Right, So like Rashad, I live

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Speaker 3: ten minutes from where we are, and my neighbors most

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Speaker 3: of them are in health care.

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Speaker 2: That's interesting.

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Speaker 4: We're in Hollywood. In Hollywood, they in healthcare.

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Speaker 2: Yeah, so how did you get started? Yeah, you're a

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Speaker 2: black man from Detroit, Michigan, So how did you get

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Speaker 2: started in healthcare? Because the interesting thing that Dane was

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Speaker 2: talking us, he was like, make sure you're asked him

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Speaker 2: about this, Like it was like his family is already

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Speaker 2: in the business, Like he actually already had the information

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Speaker 2: and the knowledge and he grew up in the industry,

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Speaker 2: and that's something that's very rare, especially in our community,

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Speaker 2: Like we don't even go to the doctor majority of

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Speaker 2: the time, and we have a bad relationship with medicine

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Speaker 2: unfortunately and doctors, so let alone actually being in the business.

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Speaker 2: So how did that go about as far as your

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Speaker 2: family and then you growing up in that?

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Speaker 4: Yeah, so I did you know?

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Speaker 3: My mother was always been in healthcare and she got

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Speaker 3: with my stepfather in about nineteen ninety, so the time

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Speaker 3: I was ten years old and he was entrepreneurial, she

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Speaker 3: was academic. They came together and ended up buying a hospital.

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Speaker 3: It's one of the last black for profit, black owned

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Speaker 3: hospitals with the neighbor It was called Southwest Detroit Hospital,

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Speaker 3: but they renamed it United Community Hospital. They bought it

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Speaker 3: from hud It was the seventy five million dollar hospital

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Speaker 3: when it was built, but they bought it for two

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Speaker 3: million dollars because it was in receivership bankruptcy. So they

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Speaker 3: bought that and then they coupled it with a HMO

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Speaker 3: Health Maintenance organization essentially an insurance company for low income

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Speaker 3: people people on Medicaid. So they operated that through the

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Speaker 3: nineties and then so when they operated, I grew up

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Speaker 3: in it. So literally, when I was twelve, thirteen, fourteen

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Speaker 3: years old, I was on the sales team and I

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Speaker 3: would go door to door in the projects and you know,

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Speaker 3: different communities where there was a large population of people

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Speaker 3: and go door to door and ask people to sign up

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Speaker 3: for Medicaid.

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Speaker 4: My parent company is called Ultimate, So I.

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Speaker 3: Grew up selling people on health insurance for low income.

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Speaker 3: And then the other time I spent I was actually

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Speaker 3: at the hospital painting the basement, being a janitor and

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Speaker 3: all that kind of stuff. But through that by Osmosis,

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Speaker 3: I learned the business. And uh through the nineties they

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Speaker 3: had a business. I think if their apex, they're doing

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Speaker 3: about forty million dollars a year in revenue, which at

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Speaker 3: the time was a whole lot of money. You know,

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Speaker 3: now things are different, it's a lot more money out here,

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Speaker 3: but then that was a lot of money. They employed

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Speaker 3: the most black people for any black business, and that's

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Speaker 3: how I grew up.

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Speaker 2: You know.

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Speaker 4: Then I went to Fourida and m got my NBA

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Speaker 4: in five years.

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Speaker 2: You yeah he went there for yeah, yeah, who did

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Speaker 2: my brother? All right?

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Speaker 4: What happened?

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Speaker 2: He got home sick? He went with to Saint John's,

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Speaker 2: went back to New York.

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Speaker 4: He got homesick from fam. I never heard that.

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Speaker 1: Yeah, probably was there around the Saint John h that's

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Speaker 1: his story.

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Speaker 4: I ain't withally.

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Speaker 3: We told y'all, you probably got some babies running around.

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Speaker 3: The fan was amazing. But I came back with my

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Speaker 3: NBA and I thought I was going to take my

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Speaker 3: family's business to the next level, and unfortunately, around the

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Speaker 3: same time, they end up losing everything. So you know

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Speaker 3: what most black businesses do, particularly then without mentorship, which

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Speaker 3: is what you are providing, which is what's missing in

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Speaker 3: our community, mentorship.

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Speaker 4: So what happens for us is those that.

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Speaker 3: Are entrepreneurial gumption go out and then usually like anybody else,

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Speaker 3: we are met with failure. Right, it doesn't go right,

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Speaker 3: and then a lot of times, unfortunately we don't try

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Speaker 3: again because with scar financially, emotionally and all that kind

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Speaker 3: of shit.

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Speaker 2: Excuse me, all that kind of stuff.

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Speaker 3: But that's what the wisdom is when you have the challenge,

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Speaker 3: and so the right thing to do is come back

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Speaker 3: into it and try again, do it smart and be successful.

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Speaker 3: But most people, for whatever reason don't do that. But

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Speaker 3: my parents ended up investing everything in the hospital in HMO,

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Speaker 3: so much so that when it all went under, they

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Speaker 3: had no money in the bank. Like they put up

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Speaker 3: the house in the business, they put it all in there,

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Speaker 3: so we had the biggest house in Detroit. They literally

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Speaker 3: put it up trying to save the hospital when they

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Speaker 3: started going under, versus realizing your business is important, but

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Speaker 3: it's not you. It's separate. It's a separate endity. So

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Speaker 3: treated as such. But of course they didn't. And then

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Speaker 3: it was just like you know, American gangster.

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Speaker 2: When he sees out, huh which part when he lost

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Speaker 2: the house and.

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Speaker 3: They lost the house, they lost the first and everything,

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Speaker 3: the diamond my mother had a twelve care diamond ring

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Speaker 3: probably worth a million dollars. Now had the hawket, you

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Speaker 3: know what I'm saying, lost everything. But for me, then

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Speaker 3: I decided, you know, I'm going to take it and

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Speaker 3: just build my own company and live on a legacy.

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Speaker 2: So I did it. So I did that.

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Speaker 3: Twenty six I started my own healthcare company, my first one,

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Speaker 3: and then sold it.

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Speaker 4: By a year later. That was cs CCS Care Compensation Specialist.

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Speaker 2: So what was that? What kind of company was that?

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Speaker 3: So there was this dude who used to work for

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Speaker 3: my parents selling insurance. Like I remember mentioning going do

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Speaker 3: it door Medicaid. Well, he was a real smooth guy,

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Speaker 3: kind of looked like at the bar's brother. He name,

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Speaker 3: I can't name the name, but anyway, I heard that

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Speaker 3: he had started his own company doing Medicaid enrollment for hospitals.

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Speaker 3: So he had got this partnership with the CEO of

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Speaker 3: a hospital in Detroit, and the whole business was someone's uninsured.

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Speaker 2: By law, the hospital has.

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Speaker 3: To take care of him no matter what the case

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Speaker 3: is that they have no ability to pay. But then

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Speaker 3: if you could do the paperwork to get that person

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Speaker 3: enrolled in Medicaid. So the ID you know, doctor Bill's

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Speaker 3: pir certificate, things that proved to the state who they

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Speaker 3: are Medicaid was then retroactively reinmbursed the hospital for services.

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Speaker 4: And he would charge like.

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Speaker 3: Twenty percent of the reimbursement, which you could have a

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Speaker 3: nick you baby cost a million dollar bill, be a

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Speaker 3: million dollar bill, right, so if you're getting twenty center

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Speaker 3: that he made twenty thousand dollars to doing paperwork. He

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Speaker 3: was making so much money it was crazy. Like he

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Speaker 3: literally was married and bought a big house and moved

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Speaker 3: his girlfriend to the house with his wife and his kids.

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Speaker 2: Let the girlfriend lived with that.

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Speaker 3: That's kind of money. He was making everything. You could

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Speaker 3: do anything with enough money.

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Speaker 2: Detroit, Detroit play.

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Speaker 3: I'm saying, when you at Detroit something like that and

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Speaker 3: not my household ain't gonna ride. But I'm saying, like

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Speaker 3: a Detroit at the time, he literally moved his girlfriend

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Speaker 3: with his wife.

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Speaker 4: He had palm trees flown in. He was making money.

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Speaker 4: But my whole thing was in to d where it's colored.

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Speaker 3: But the whole thing was he had lost it because

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Speaker 3: they had found out that CEO was in his pocket

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Speaker 3: or vice versa, and so he lost the contract. And

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Speaker 3: so me, yeah to the street, Okay, boom, I'm gonna

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Speaker 3: go figure out. I'm gonna get the contract. So I

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Speaker 3: went and met with his chief operating officer and persuaded

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Speaker 3: her to come work with me, and then I did

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Speaker 3: some other things get a contract, and that's how I

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Speaker 3: started my first company.

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Speaker 1: Can we go back just for a second, because you

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Speaker 1: were obviously were born into the healthcare industry, but you

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Speaker 1: your entrepreneurial journey had.

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Speaker 2: A lot of stops.

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Speaker 1: Yeah, right, So I know that that you had the

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Speaker 1: ice cream truck at fam you did, you did the

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Speaker 1: fish and sandwich. What did you learn from those businesses

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Speaker 1: that said, you know what, this isn't gonna work, because

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Speaker 1: you immediately said they didn't work, but you learned.

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Speaker 2: Let me go back to my passion.

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Speaker 3: No, for sure, So ice cream truck, like you said,

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Speaker 3: you know, I was doing that because to my surprised

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Speaker 3: I mean, how you in Florida don't have ice cream

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Speaker 3: trucks and Detroit it's cold to much out of here,

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Speaker 3: you have ice cream trucks during the summertime. So I

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Speaker 3: had my tahoe converted to ice cream truck. I was

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Speaker 3: playing Masterpiece of ice Cream Man, which was you know

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Speaker 3: what I mean, the biggest song on the radio at

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Speaker 3: the time.

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Speaker 4: But you had to have like what ice, you had

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Speaker 4: to have hot ice.

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Speaker 3: In anyway, then my ice cream was melting and I

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Speaker 3: really didn't like it.

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Speaker 4: Like I was. I enjoyed being a dude who pulled

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Speaker 4: up in the tahoe with.

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Speaker 3: The ice cream Man playing, but I didn't like the

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Speaker 3: process of working on the ice cream itself. Then I

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Speaker 3: end up starting these these sandwich shops, the Fries Palm

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Speaker 3: Fritz Fries in the Cone because I was in Amsterdam

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Speaker 3: and the coffee shops drinking a lot of coffee came out

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Speaker 3: and I was hungry for whatever reason. And at these

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Speaker 3: fries in the cones, I'm like, I'm about to be

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Speaker 3: the next Rondalm McDonald. I'm about to bring this stuff

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Speaker 3: to the United States. I'm about to kill McDonald's. But

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Speaker 3: I came back and I did it. And I quickly

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Speaker 3: realized even though I could grow the business because I

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Speaker 3: could sell, I didn't like coming in, you know, having

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Speaker 3: a machine where it had to cut and peel the fries.

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Speaker 3: There's too much work, and then you have people complained,

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Speaker 3: then the grease gets dirty. It's just I didn't like

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Speaker 3: the businesses so so even though I had built them,

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Speaker 3: I didn't like it, so they ultimately all failed. Even

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Speaker 3: though I got in the airport, I was twenty two,

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Speaker 3: I had a restaurant in the airport. I was in

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Speaker 3: the malls on the street side next to Florida State.

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Speaker 3: I didn't love the business, so it wasn't working. And

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Speaker 3: then I got lost in the business too, Right, So

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Speaker 3: what can happen if it's not working the way I plan?

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Speaker 3: Which be the next Ronom McDonald? I started doing different things.

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Speaker 3: I lost my way.

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Speaker 4: So then I added shrimp to the menu, right, so

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Speaker 4: you know.

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Speaker 3: Black folks love shrimp. I'm up late, I'm open late,

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Speaker 3: and I need to have fried shrimp. Well, then I started.

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Speaker 3: I was in Florid, so said let me do some

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Speaker 3: Caribbean things. And I had some Caribbean foods and rice

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Speaker 3: and being so before you know it, I lost my

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Speaker 3: way with the company with a business, so ultimately failed.

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Speaker 3: But then I went back, came back to Detroit, and

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Speaker 3: I came into healthcare because I knew healthcare. I knew

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Speaker 3: it was I even knowing that I knew it, you know, Like,

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Speaker 3: so the biggest decisions I made in my last company

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Speaker 3: that I sold to Blue Cross, I knew just through

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Speaker 3: Osmosi's living, I mean, just living my life as a kid,

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Speaker 3: remembering decisions that my parents made in their health care business.

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Speaker 1: Yeah, so you ended up selling the first business, right,

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Speaker 1: but you didn't just take cash, right, so it was

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Speaker 1: like a stock option and.

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Speaker 3: The first healthcare business. Yeah, I got stock options. So

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Speaker 3: that's a funny story. I don't know if you want

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Speaker 3: the whole story, but long story short, this company I

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Speaker 3: was doing back in work because I didn't get a

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Speaker 3: primary contract I was doing back in so basically their

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Speaker 3: primary vendor. They couldn't ge folks and roll to Medicaid.

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Speaker 3: They gave me the second shot. I was a garbage man.

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Speaker 3: But for me, of course, I got them all to

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Speaker 3: prove because that was my opportunity. And through doing so,

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Speaker 3: this big company who just was on this pathway to

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Speaker 3: go public, had decided they wanted to come visit me

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Speaker 3: and either do one of two things, do a strategic

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Speaker 3: partnership with me. When selling me charging twenty percent of reimbursement,

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Speaker 3: I charged eight to ten percent. But I would get

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Speaker 3: a bigger volume of work or they would buy my company.

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Speaker 3: And so they came to visit me. I was in

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Speaker 3: the shared office space like we work. I just had

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Speaker 3: one office. Well, I had like two officers in there,

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Speaker 3: and they had a shared conference room.

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Speaker 4: And I paid.

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Speaker 3: People to act like they work from me. You know,

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Speaker 3: I paid like forty bucks a day. I gave them

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Speaker 3: a one pager with you know, three bullet points. This

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Speaker 3: named the company. You know what I'm saying. This is

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Speaker 3: one page, you know, one line of what we do.

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Speaker 3: And anyway, so I sold those folks and I didn't

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Speaker 3: want to actate to work for me. But I sold

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Speaker 3: the people on buy my company and I got stock options,

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Speaker 3: so they made me a scene director. They gave me

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Speaker 3: which is the time I was spent myself forty grand

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Speaker 3: a year my own company. They paid me two hundred

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Speaker 3: thousand a year. I was twenty seven and they gave

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Speaker 3: me a thousand stock You know, That's what Dean was

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Speaker 3: telling on us. He was like, make sure you asked

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Speaker 3: him about that. He started a company with a virtual

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Speaker 3: regio's office and sold the company.

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Speaker 4: D I did it twice though that was my first time.

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Speaker 3: Second time, I want a half billion out of contracts

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Speaker 3: at work. You know what I'm saying about the dumpsters

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Speaker 3: on the phone, like snaked, Yeah, and I did that.

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Speaker 2: So how did you had to read this office space?

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Speaker 2: So all right, let's let's get into that situation. So

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Speaker 2: you you you started the company, but in order for

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Speaker 2: the company to be sold, it had to have looked

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Speaker 2: like more than what it actually was, right, So that's

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Speaker 2: why you got the regious office space, which anybody that doesn't

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Speaker 2: know Region's office space regis is like a shared office.

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Speaker 1: Hey, Ernest, did you know that the black community has

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Speaker 1: two point seven trillion dollars of spending power. Are you

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Speaker 1: ready to see what you can do when you combine

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Speaker 1: and recirculate our resources to expand the pool of black excellence?

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Speaker 1: I know I'm ready, and that's why we've partnered with Greenwood,

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Speaker 1: the n demand black owned digital banking platform. Greenwood's namesake

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Speaker 1: was founded in nineteen oh six, built from the brilliance

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Speaker 1: of black dreamers looking to create a self sufficient community

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Speaker 1: in the Greenwood District of Tosa, Oklahoma aka Black Wall Street. Today,

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Speaker 1: Greenwood is a digital banking platform with the mission of

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Speaker 1: strength and the Black Dollar, using the same community reinfstment

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Speaker 1: strategies of the original Greenwood District, and it's powered by

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Speaker 1: a best in class mobile app that allows.

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Speaker 2: You to bank from anywhere.

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Speaker 1: So, Ernest, if you're ready to build a new legacy

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Speaker 1: of black economic achievement, go to Bankgreenwood dot com slash

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Speaker 1: eyl and sign up to be a part of the

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Speaker 1: new Greenwood community. That's Bank Greenwood dot com slash eyl.

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Speaker 1: Don't wait, don't hesitate, head over there now.

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Speaker 3: What makes I try to use this business in Georgia

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Speaker 3: and to be like a subcontractor? But I learned quick

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Speaker 3: learn is no real money Here's one thing I'll clarify

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Speaker 3: is my lane has been healthcare. That's really the niche

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Speaker 3: of government contracting, because really that's what I was doing

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Speaker 3: once I got on the side, and my.

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Speaker 4: Last company was contract with the government.

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Speaker 3: So there was this company who I was going to

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Speaker 3: be there the sub who's trying to do some work

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Speaker 3: in Georgia, and I quickly realized there was no big

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Speaker 3: money in that. So I want to get a Medicaid

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Speaker 3: managed care because Obamacare had just passed, which meant more

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Speaker 3: people on Medicaid, which because of the way I grew up,

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Speaker 3: I knew folks on Medicaid meant more people in medicate

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Speaker 3: managed care.

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Speaker 2: So let's just break this down. Medicaid is the government

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Speaker 2: program health insurance. Yes for people low income people. Yes,

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Speaker 2: so you get commissions if you signed people up for Medicaid.

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Speaker 3: Well know, the way it works is if you actually

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Speaker 3: own the insurance company, which is what my parents had

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Speaker 3: that's providing the medical right, and.

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Speaker 4: Then I got it. So here's what happens.

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Speaker 3: The government has the money and they're responsible for paying

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Speaker 3: all the bills for people on Medicaid. All right, Well,

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Speaker 3: what's happened is you had the providers, the hospitals and

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Speaker 3: doctors and service providers, which is build a government over

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Speaker 3: build them two or three times for the same service build.

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Speaker 3: You know, somebody could be EAR level five, but they

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Speaker 3: our level two, which means not that sick. But they'll

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Speaker 3: build an EAR level five, I mean super sick. They

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Speaker 3: would get more money for it. So they would double bill,

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Speaker 3: triple bill, do too much. And so the government decided

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Speaker 3: in order to manage the spending, they need to put

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Speaker 3: a police mechanism in the middle to police the providers,

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Speaker 3: and those are the Medicaid managed care insurance companies. So

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Speaker 3: they contract with us and they pay us a health

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Speaker 3: insurance premium per member per month they assigned to us.

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Speaker 3: So in DC, my first contract, my first month I

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Speaker 3: got they signed me thirty thousand people. They're paying me roughly,

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Speaker 3: you know, five thousand dollars a year. They pay me

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Speaker 3: one hundred So I was getting like twelve million dollars

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Speaker 3: a month, five thousand dollars per person per year, a

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Speaker 3: person per year. Yeah, and I had and they signed

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Speaker 3: me thirty thousand people.

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Speaker 2: So do the math.

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Speaker 3: It's one hundred fifty million a year divided by twelve,

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Speaker 3: like twelve million a month first contract. Before that has

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Speaker 3: to be all the hospital bills though, say time I

402
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Speaker 3: member goes to the hospital, the doctor, the dentists gets prescriptions,

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Speaker 3: emergent transportation nine emergeny transporation.

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Speaker 4: I pay for everything.

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Speaker 3: And if those bills are greater and they have my costs,

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Speaker 3: my administrative costs to pervert, provide the service, marketing, et cetera.

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Speaker 3: If my costs are greater than what I.

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Speaker 4: Got paid from the government, I lose money. So I'm

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Speaker 4: at risk.

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Speaker 3: But if they're lower than I make money, Okay, So yeah.

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Speaker 1: No, So are there things that you can do obviously

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Speaker 1: to prevent Yeah? Yeah, So, like what are some of

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Speaker 1: the things that.

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Speaker 4: I was out cold? I was the coldest with it.

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Speaker 3: So the average company in my industry is doing one

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Speaker 3: point seven percent profit margins. You've round up to two percent.

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Speaker 3: It's two percent, one hundred and fifty million. It's like

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Speaker 3: three million dollars a year, right, Well, that's the profit

419
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Speaker 3: profit right, And there's some advanced accountants that look at

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Speaker 3: all the past utilization patterns. How many times go to

421
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Speaker 3: the mergercy room howny times ago? Impatient It means they

422
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Speaker 3: spend night Hospitalee one night. How many folks are homeless

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Speaker 3: and they have how many folks have diabetes? How many

424
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Speaker 3: folks you know need a transplant? And they make all

425
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Speaker 3: these assumptions to say, Okay, well we expect your cost

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00:19:57,119 --> 00:19:59,919
Speaker 3: to be X, so therefore your profit can be two percent.

427
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Speaker 3: But of course me because Troy you the same way.

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Speaker 3: I believe if somebody gave you and I got my

429
00:20:07,160 --> 00:20:08,800
Speaker 3: coming up to twenty million revenue. So if somebody gave

430
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Speaker 3: you twenty million dollars in revenue. By the way, a

431
00:20:10,760 --> 00:20:12,440
Speaker 3: lot of companies lose money, like United was losing money.

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Speaker 3: Are you gonna make money lose money? I'm gonna make money,

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Speaker 3: right yeah for show. It just hit me, It just

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Speaker 3: hit me. Give me twenty million dollars. I'm about to

435
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Speaker 3: make some money. Yeah, and I'm gonna make a whole

436
00:20:21,000 --> 00:20:22,959
Speaker 3: lot of money. So they was making two percent, I

437
00:20:22,960 --> 00:20:25,880
Speaker 3: was making ten and then my ten was round and down.

438
00:20:26,440 --> 00:20:27,760
Speaker 3: So I was making like twenty million a year and

439
00:20:27,760 --> 00:20:29,000
Speaker 3: I should have made four million year.

440
00:20:29,160 --> 00:20:31,120
Speaker 2: How come you was able to make way more higher

441
00:20:31,119 --> 00:20:32,120
Speaker 2: profit margins in them?

442
00:20:32,440 --> 00:20:37,640
Speaker 3: Because big companies are built with mediocre, mediocre people, right,

443
00:20:37,680 --> 00:20:40,520
Speaker 3: So Blue crossby Shield and these big companies, United Healthcare

444
00:20:40,680 --> 00:20:44,280
Speaker 3: sent ten. They're big, like every big coming, it's just mediocre,

445
00:20:44,480 --> 00:20:45,840
Speaker 3: right because no one really gives a shit because they

446
00:20:45,880 --> 00:20:46,359
Speaker 3: don't own it.

447
00:20:46,840 --> 00:20:49,120
Speaker 4: But me, I want forty per cent of my company.

448
00:20:49,200 --> 00:20:51,080
Speaker 3: So if I make twenty million, eight millions comeing to

449
00:20:51,080 --> 00:20:52,000
Speaker 3: Tommy Duncan's pocket.

450
00:20:53,080 --> 00:20:53,560
Speaker 4: You feel me.

451
00:20:53,680 --> 00:20:56,280
Speaker 3: If I make four million, I'm only getting eight hundred thousand.

452
00:20:57,080 --> 00:20:59,000
Speaker 3: So what I'm gonna do. I'm about to make the

453
00:20:59,080 --> 00:21:01,679
Speaker 3: twenty I do it. I'm going through the data. So

454
00:21:01,720 --> 00:21:05,720
Speaker 3: I became in actuary in my own mind. So, like

455
00:21:05,760 --> 00:21:07,480
Speaker 3: I said before about like the food business, I didn't

456
00:21:07,480 --> 00:21:08,560
Speaker 3: like it. I liked the process of it.

457
00:21:08,960 --> 00:21:11,320
Speaker 4: So I wasn't going to become a cook or a chef.

458
00:21:11,400 --> 00:21:13,359
Speaker 4: I don't like it. But in this business, I love

459
00:21:13,440 --> 00:21:13,720
Speaker 4: this shit.

460
00:21:14,160 --> 00:21:17,200
Speaker 3: So I became an accountant to a degree in Advan's

461
00:21:17,200 --> 00:21:20,960
Speaker 3: accountant called actuaries. I looked at all of my data, identified, okay, well,

462
00:21:21,760 --> 00:21:27,320
Speaker 3: who's cost me the most money? By individual and by category?

463
00:21:27,880 --> 00:21:28,760
Speaker 4: So I give an example.

464
00:21:29,119 --> 00:21:34,760
Speaker 3: I identified that anyone who was in my membership had

465
00:21:34,800 --> 00:21:37,639
Speaker 3: any condition. They could be a type two diabetic, they

466
00:21:37,720 --> 00:21:41,080
Speaker 3: could be on dialysis, whatever the case may be. But

467
00:21:41,200 --> 00:21:44,040
Speaker 3: if they were also homeless, they cost me five x

468
00:21:44,080 --> 00:21:47,320
Speaker 3: more expensive. So no matter what the condition they had,

469
00:21:47,320 --> 00:21:50,080
Speaker 3: they were also homeless. I cost cost five hundred percent more.

470
00:21:50,240 --> 00:21:53,159
Speaker 3: So what I decided to do is identify all of

471
00:21:53,200 --> 00:21:55,440
Speaker 3: my members that were homeless and put together programs to

472
00:21:55,440 --> 00:21:58,920
Speaker 3: get them in the housing. Simple thing. So at this meeting,

473
00:21:58,960 --> 00:22:00,960
Speaker 3: I had forty people there because it was open meeting,

474
00:22:01,040 --> 00:22:03,080
Speaker 3: and I kind of lead from the front. I'm a

475
00:22:03,119 --> 00:22:05,760
Speaker 3: ground up guy, so let's all talk. Everybody gets respected

476
00:22:05,960 --> 00:22:09,280
Speaker 3: in the floor. And what I quickly realized is because

477
00:22:09,280 --> 00:22:11,120
Speaker 3: of that safe environment, two women to raise hands said

478
00:22:11,119 --> 00:22:11,720
Speaker 3: I had actually been.

479
00:22:11,680 --> 00:22:14,040
Speaker 2: Homeless in DC and homeless with the kids.

480
00:22:14,040 --> 00:22:15,560
Speaker 4: They gave me the real So I thought I had

481
00:22:15,560 --> 00:22:18,320
Speaker 4: the right idea, was wrong. They gave me the real.

482
00:22:18,440 --> 00:22:20,320
Speaker 3: Lead of land, we put together plans in place we

483
00:22:20,320 --> 00:22:23,320
Speaker 3: would douce homelesses about fifty percent. So out of all

484
00:22:23,359 --> 00:22:27,000
Speaker 3: the metrics and data in our industry of healthcare, the

485
00:22:27,200 --> 00:22:29,639
Speaker 3: only metric that we needed to focus on was getting

486
00:22:29,640 --> 00:22:30,960
Speaker 3: folks that were homeless into housing.

487
00:22:31,040 --> 00:22:33,119
Speaker 2: It seems simple, right, we did it.

488
00:22:33,119 --> 00:22:35,600
Speaker 3: Cost came down a fifty percent, and I probabily went

489
00:22:35,680 --> 00:22:36,240
Speaker 3: up directly.

490
00:22:36,440 --> 00:22:39,159
Speaker 2: So that's let's just go into that point minute. So

491
00:22:39,880 --> 00:22:43,080
Speaker 2: just by actually looking at the numbers, you realize that

492
00:22:43,080 --> 00:22:45,720
Speaker 2: the homeless people was actually costing you a lot more money,

493
00:22:45,760 --> 00:22:49,240
Speaker 2: so you got to keep them on. So the way

494
00:22:49,280 --> 00:22:53,800
Speaker 2: that solve it is housing. That's there are housing programs,

495
00:22:54,240 --> 00:22:56,720
Speaker 2: but it's just a matter of most CEOs aren't really

496
00:22:56,760 --> 00:23:00,560
Speaker 2: interested in community outreach and trying. So you actually going

497
00:23:00,600 --> 00:23:02,760
Speaker 2: hand in hand and getting these people and saying like, look,

498
00:23:02,760 --> 00:23:04,280
Speaker 2: we can get you a house, da da da, and

499
00:23:04,280 --> 00:23:07,159
Speaker 2: we can put you in a shelter. And that way,

500
00:23:07,359 --> 00:23:09,800
Speaker 2: not only are you getting them off the street, but

501
00:23:09,920 --> 00:23:12,400
Speaker 2: you're actually increasing your profit revenue as well. That's why

502
00:23:12,440 --> 00:23:14,800
Speaker 2: I was like, I get it. Once you said it,

503
00:23:14,800 --> 00:23:15,640
Speaker 2: I get it.

504
00:23:15,760 --> 00:23:18,119
Speaker 1: You do the programs for the homeless, right, You create

505
00:23:18,680 --> 00:23:23,640
Speaker 1: exercise classes, you create nutrition programs, more entry people, less

506
00:23:23,640 --> 00:23:26,080
Speaker 1: people have to go to get any type of treatment

507
00:23:26,200 --> 00:23:29,080
Speaker 1: or have to go, increase the expenses.

508
00:23:29,280 --> 00:23:30,160
Speaker 4: Trow one hundred sent right.

509
00:23:30,440 --> 00:23:33,000
Speaker 3: So we actually built these community centers called our Recenters

510
00:23:33,040 --> 00:23:36,320
Speaker 3: in the hood. So in the Turvice neighborhood in DC,

511
00:23:36,720 --> 00:23:39,000
Speaker 3: we had four of them all throughout the district.

512
00:23:39,119 --> 00:23:41,040
Speaker 4: And most of these companies call them corporate call wherever

513
00:23:41,040 --> 00:23:41,720
Speaker 4: you want to call them.

514
00:23:41,840 --> 00:23:45,680
Speaker 3: They ain't stepping foot in the hood, and employees aren't.

515
00:23:45,720 --> 00:23:48,240
Speaker 3: So we end up attracting people that were comfortable being

516
00:23:48,280 --> 00:23:51,119
Speaker 3: the hood I called the hood. But when you're around

517
00:23:51,200 --> 00:23:54,120
Speaker 3: the people that you're serving, you can affect them because

518
00:23:54,119 --> 00:23:56,000
Speaker 3: you're actually communicating with them, and you get them. You

519
00:23:56,040 --> 00:23:58,199
Speaker 3: build a trust where they actually pay attention to what

520
00:23:58,240 --> 00:24:01,160
Speaker 3: you are putting forth. They know the reason horses and

521
00:24:01,160 --> 00:24:02,880
Speaker 3: their behaviors changed for the positive.

522
00:24:04,200 --> 00:24:06,560
Speaker 2: So that's how you was able to increase just looking

523
00:24:06,600 --> 00:24:08,840
Speaker 2: at and stuff like that, studying analytics.

524
00:24:08,880 --> 00:24:11,119
Speaker 1: So you went for one percent, well the average was

525
00:24:11,160 --> 00:24:13,399
Speaker 1: one percent points, and so that's how you got to

526
00:24:13,440 --> 00:24:13,920
Speaker 1: the ten percent.

527
00:24:13,960 --> 00:24:16,080
Speaker 4: I was over ten killing them, killing them.

528
00:24:16,080 --> 00:24:18,720
Speaker 3: But the problem is and actually wrote a book trying

529
00:24:18,720 --> 00:24:20,960
Speaker 3: to change the policy for medicating the country.

530
00:24:21,119 --> 00:24:21,560
Speaker 2: I sent it to you.

531
00:24:21,600 --> 00:24:23,359
Speaker 4: It's called the Tradiing Dollar Medicaid Monster.

532
00:24:24,200 --> 00:24:28,639
Speaker 3: It addresses single payer everything you've heard about politically that

533
00:24:28,760 --> 00:24:32,000
Speaker 3: knowing fully understands, adresses all of it, simplifies it. I

534
00:24:32,040 --> 00:24:34,760
Speaker 3: took it to the person that runs ran sentence, Medicare

535
00:24:34,760 --> 00:24:37,000
Speaker 3: and Medicaid for the country to change policy.

536
00:24:37,119 --> 00:24:39,280
Speaker 4: Gave him three policies to change, and he.

537
00:24:39,359 --> 00:24:41,200
Speaker 3: Told me there's no way he could do it because

538
00:24:42,359 --> 00:24:46,719
Speaker 3: one of the policies is affected into law through Obamacare,

539
00:24:46,840 --> 00:24:50,800
Speaker 3: and it'll be too hard to change policy. But what

540
00:24:51,000 --> 00:24:54,680
Speaker 3: that policy is a mandatory medical loss ratio requirement. What

541
00:24:54,720 --> 00:24:57,640
Speaker 3: that means is, remember the government pays us a health

542
00:24:57,640 --> 00:25:00,639
Speaker 3: insurance premium per member per month one thousand per year,

543
00:25:00,640 --> 00:25:01,919
Speaker 3: breaking down per month for one and of bucks per

544
00:25:01,920 --> 00:25:07,200
Speaker 3: month per person tracking, Well, let's use the five grand

545
00:25:07,640 --> 00:25:10,359
Speaker 3: per year number. The requirement is that eighty five percent

546
00:25:10,359 --> 00:25:12,320
Speaker 3: of that money has to be spent on direct costs

547
00:25:12,320 --> 00:25:16,800
Speaker 3: of care, so hospital, doctor, pharmacy. Then I get, you

548
00:25:16,800 --> 00:25:19,760
Speaker 3: know whatever, twelve percent left, thirteen percent left to cover

549
00:25:19,800 --> 00:25:22,639
Speaker 3: my administrator spence, and then two percent profit margin. But

550
00:25:22,720 --> 00:25:26,600
Speaker 3: the management medical cost ratio is the eighty five percent. Well,

551
00:25:26,960 --> 00:25:28,320
Speaker 3: if you do things that I was doing and get

552
00:25:28,320 --> 00:25:30,920
Speaker 3: people who are homeless in the housing reduce costs of care,

553
00:25:31,320 --> 00:25:32,920
Speaker 3: then you're gonna be less than eighty five percent.

554
00:25:32,960 --> 00:25:34,720
Speaker 1: Because I'm thinking like, if you did it in DC,

555
00:25:35,640 --> 00:25:37,800
Speaker 1: this model seems like it could be scalable, right, Like,

556
00:25:37,840 --> 00:25:39,960
Speaker 1: why can't we do it Detroit, New York City?

557
00:25:40,040 --> 00:25:42,160
Speaker 3: Well, because it's political, it's hard to win the contracts.

558
00:25:42,800 --> 00:25:44,240
Speaker 3: It's a big game. So let me tell you how.

559
00:25:44,320 --> 00:25:45,920
Speaker 3: Let me tell you something else about to the entrepreneurs

560
00:25:45,960 --> 00:25:56,240
Speaker 3: out here, go to what the opportunity is. I feel

561
00:25:56,240 --> 00:25:58,280
Speaker 3: like a lot of times what we do is individuals,

562
00:25:58,359 --> 00:26:01,240
Speaker 3: not just black, but just in general, is we believe

563
00:26:01,359 --> 00:26:05,840
Speaker 3: whether whoever our God is or our universe is, you know,

564
00:26:05,880 --> 00:26:08,840
Speaker 3: it's all on us, right, so God bless us, and

565
00:26:08,920 --> 00:26:09,280
Speaker 3: it's just.

566
00:26:09,280 --> 00:26:09,919
Speaker 4: Wherever we are.

567
00:26:10,000 --> 00:26:12,240
Speaker 3: But the truth is, the environment has a big impact

568
00:26:12,520 --> 00:26:17,760
Speaker 3: on your opportunity. And I was in Detroit in the money. Detroit,

569
00:26:18,160 --> 00:26:20,040
Speaker 3: d C is a special place and a lot of

570
00:26:20,040 --> 00:26:22,560
Speaker 3: black folks who have been successful come through DC, A

571
00:26:22,600 --> 00:26:24,680
Speaker 3: lot of them. You look them up, most of them

572
00:26:25,160 --> 00:26:27,200
Speaker 3: got to start a BT. You go through you really

573
00:26:27,200 --> 00:26:29,560
Speaker 3: look at black folks who made it big. Most of

574
00:26:29,600 --> 00:26:31,560
Speaker 3: them spent time in DC. And the reason is because

575
00:26:31,680 --> 00:26:34,920
Speaker 3: d C is the only place that has a governor's

576
00:26:34,920 --> 00:26:40,160
Speaker 3: budget but as black ran. So you look at any

577
00:26:40,160 --> 00:26:43,359
Speaker 3: other state in this country. You look at New York City,

578
00:26:43,480 --> 00:26:46,560
Speaker 3: who knows what's gonna happen until a degree it may

579
00:26:46,600 --> 00:26:49,800
Speaker 3: not really matter. You look at Atlanta, Georgia, you go

580
00:26:49,840 --> 00:26:52,440
Speaker 3: to Detroit, Michigan. You got all these you know, big

581
00:26:52,480 --> 00:26:55,600
Speaker 3: cities which have a black mayor, but the mayor budgets is.

582
00:26:55,600 --> 00:26:57,320
Speaker 2: Small because the governor.

583
00:26:57,680 --> 00:27:00,320
Speaker 3: Governor got the money. Governor's got more money that they

584
00:27:00,320 --> 00:27:05,480
Speaker 3: can actually than the president of United States because they

585
00:27:06,160 --> 00:27:08,360
Speaker 3: like the biggest CEOs in this country. But no one

586
00:27:08,359 --> 00:27:11,239
Speaker 3: talks about it. So how many black governments do you know?

587
00:27:12,000 --> 00:27:12,320
Speaker 2: None?

588
00:27:12,520 --> 00:27:12,920
Speaker 4: Come on?

589
00:27:13,000 --> 00:27:16,840
Speaker 3: Why is that they control the money? Sorry, they control

590
00:27:16,960 --> 00:27:21,960
Speaker 3: the money. Governors control the money. Let me tell you

591
00:27:22,000 --> 00:27:23,880
Speaker 3: out of the city of Atlanta, because I spent time there.

592
00:27:23,920 --> 00:27:26,920
Speaker 3: With any city, a big contract tould be a million dollars.

593
00:27:27,720 --> 00:27:29,600
Speaker 3: You get a contract with the airport, you got a concession,

594
00:27:29,600 --> 00:27:30,960
Speaker 3: you said you may you make a half million dollars

595
00:27:31,000 --> 00:27:31,280
Speaker 3: a year.

596
00:27:31,600 --> 00:27:32,080
Speaker 2: It's big.

597
00:27:33,119 --> 00:27:36,680
Speaker 3: Any contract over three million, so three four five million,

598
00:27:36,720 --> 00:27:39,320
Speaker 3: and it'd be construction. But the problem with construction for

599
00:27:39,359 --> 00:27:41,520
Speaker 3: an entrepreneurs that there's a lot of expenses in construction.

600
00:27:41,600 --> 00:27:43,600
Speaker 4: You gotta have equipment, you gotta have a million people.

601
00:27:43,600 --> 00:27:48,000
Speaker 3: You can't make any profit. But governors controlled. Let me

602
00:27:48,000 --> 00:27:52,440
Speaker 3: watch this, watch this. The second largest procurement in history

603
00:27:52,520 --> 00:27:56,800
Speaker 3: United States was Georgia medicaid. I'm sorry, was Florida medicaid

604
00:27:56,920 --> 00:27:58,320
Speaker 3: three years ago. It was one hundred and twenty million

605
00:27:58,359 --> 00:27:59,000
Speaker 3: dollar contract.

606
00:27:59,600 --> 00:28:00,159
Speaker 4: Right now.

607
00:28:00,320 --> 00:28:03,400
Speaker 3: Over the next three months, Californias put out their Medicaid contract.

608
00:28:03,640 --> 00:28:05,719
Speaker 3: Medicaid what I was doing. It's gonna be a two

609
00:28:05,800 --> 00:28:08,880
Speaker 3: hundred billion dollar contract, two hundred billion over five years.

610
00:28:08,960 --> 00:28:11,880
Speaker 3: Two hundred billion dollars five years medicaid what I was doing.

611
00:28:13,160 --> 00:28:13,800
Speaker 4: Who controls that?

612
00:28:13,880 --> 00:28:14,320
Speaker 2: The governor?

613
00:28:14,760 --> 00:28:16,160
Speaker 3: I mean, you don't have to get a big piece

614
00:28:16,160 --> 00:28:18,000
Speaker 3: to get a lot of money. But DC is special

615
00:28:18,520 --> 00:28:19,040
Speaker 3: because d.

616
00:28:19,080 --> 00:28:20,439
Speaker 2: C governs budget.

617
00:28:20,600 --> 00:28:23,200
Speaker 3: It's a governments budget, and the mayor is the governor.

618
00:28:23,400 --> 00:28:25,159
Speaker 3: And she's a black one because that's her. It was

619
00:28:25,200 --> 00:28:25,680
Speaker 3: a black man.

620
00:28:25,760 --> 00:28:28,040
Speaker 2: So it's a district of Columbia, so it's not a state,

621
00:28:28,680 --> 00:28:29,840
Speaker 2: so it's a territory.

622
00:28:30,160 --> 00:28:33,199
Speaker 3: So we got the budget. The mayor is technically the

623
00:28:33,240 --> 00:28:34,560
Speaker 3: governor in a sense.

624
00:28:34,760 --> 00:28:35,600
Speaker 4: And they got the budget.

625
00:28:35,680 --> 00:28:37,800
Speaker 2: Is the budget of power? Budget based on population?

626
00:28:38,160 --> 00:28:40,560
Speaker 1: How do they determine the budget based on populations in

627
00:28:40,600 --> 00:28:41,040
Speaker 1: tax base?

628
00:28:41,680 --> 00:28:43,360
Speaker 3: But d C is a beautiful place. It's small with

629
00:28:43,360 --> 00:28:47,880
Speaker 3: a big tax base. And uh, they got the power.

630
00:28:47,960 --> 00:28:50,160
Speaker 3: And then the other thing DC did through a former

631
00:28:50,920 --> 00:28:53,760
Speaker 3: mayor for Life Marion Barry, was the first place to

632
00:28:53,760 --> 00:28:55,080
Speaker 3: institute a real program.

633
00:28:55,120 --> 00:28:57,800
Speaker 4: And maybe Georgia did it, but DC did it powerfully.

634
00:28:58,320 --> 00:29:01,440
Speaker 3: Where every contract comes out of DC has to have

635
00:29:01,480 --> 00:29:05,320
Speaker 3: thirty percent minority participation. Now they what happens. There is

636
00:29:05,360 --> 00:29:07,760
Speaker 3: a lot of times that black companies will come in.

637
00:29:07,920 --> 00:29:12,600
Speaker 3: It tried to do small shit, do small things right unintitionally.

638
00:29:12,600 --> 00:29:16,760
Speaker 3: But they'll do janitorial service, they'll do marketing contract AGVAG,

639
00:29:16,840 --> 00:29:20,120
Speaker 3: they do printing. But they ain't no money. I mean

640
00:29:20,200 --> 00:29:22,640
Speaker 3: relatively speaking, what I was doing. I came in as

641
00:29:22,640 --> 00:29:25,560
Speaker 3: a prime and I got the prime contract. So I

642
00:29:25,600 --> 00:29:29,640
Speaker 3: was getting two enty million dollars year out of DC government. Well,

643
00:29:30,920 --> 00:29:33,200
Speaker 3: the problem with the companies that like I had is

644
00:29:33,240 --> 00:29:36,320
Speaker 3: I couldn't find a smaller black business to give a

645
00:29:36,320 --> 00:29:38,600
Speaker 3: contract too that was worth thirty percent. They couldn't do

646
00:29:38,600 --> 00:29:40,840
Speaker 3: the work, they didn't have the infrastructure, They weren't trying

647
00:29:40,840 --> 00:29:44,440
Speaker 3: to do anything worth the bigger spend. But DC, let

648
00:29:44,480 --> 00:29:46,320
Speaker 3: me tell you right now to Medicaid contracts, because they

649
00:29:46,320 --> 00:29:48,880
Speaker 3: did an expansion DC right now, it's probably three billion

650
00:29:48,920 --> 00:29:52,400
Speaker 3: dollars a year, just a little o DC three billion dollars.

651
00:29:52,840 --> 00:29:54,280
Speaker 4: Well of that thirty.

652
00:29:54,080 --> 00:29:56,760
Speaker 3: Percent, how much is that almost a billion dollars has

653
00:29:56,760 --> 00:30:00,000
Speaker 3: to be spent with minorities? But how much you write?

654
00:30:00,080 --> 00:30:01,600
Speaker 3: Really thing it's being spited to the minority of companies

655
00:30:01,600 --> 00:30:03,200
Speaker 3: in DC. I could tell you because we had to

656
00:30:03,240 --> 00:30:07,720
Speaker 3: do hearings because there weren't enough to spend probably yeah,

657
00:30:07,880 --> 00:30:09,960
Speaker 3: no more than ten million, not even ten five five

658
00:30:10,240 --> 00:30:12,000
Speaker 3: five million from a billion, not even that much.

659
00:30:12,120 --> 00:30:12,520
Speaker 4: I'm saying.

660
00:30:12,520 --> 00:30:14,520
Speaker 3: It's like, it's just not the companies aren't there. The

661
00:30:14,880 --> 00:30:19,000
Speaker 3: companies aren't there to do the work. And look, I

662
00:30:19,040 --> 00:30:20,960
Speaker 3: mean we put game in the system by putting money

663
00:30:20,960 --> 00:30:23,160
Speaker 3: in a black bank, but that's not really spending money.

664
00:30:23,160 --> 00:30:27,240
Speaker 3: That's just money sitting. And even that's like small. But anyway,

665
00:30:27,280 --> 00:30:30,480
Speaker 3: my points are that there's opportunity all over the place,

666
00:30:30,520 --> 00:30:34,440
Speaker 3: particularly in DC, and this way to navigate it, the

667
00:30:34,440 --> 00:30:38,360
Speaker 3: way that I did it, you know, but as an uspilar,

668
00:30:38,360 --> 00:30:40,040
Speaker 3: you should look at your environment, see where you're at.

669
00:30:40,640 --> 00:30:44,600
Speaker 1: The skill I mean, navigating through government contracts is obviously

670
00:30:44,680 --> 00:30:45,080
Speaker 1: a skill.

671
00:30:45,160 --> 00:30:46,520
Speaker 2: Where did you develop this?

672
00:30:46,720 --> 00:30:50,720
Speaker 1: Was it watching your parents go through the hospital or

673
00:30:50,760 --> 00:30:52,160
Speaker 1: was it something that you learned when.

674
00:30:52,040 --> 00:30:55,000
Speaker 2: You were at a VP at your first company.

675
00:30:55,400 --> 00:30:58,479
Speaker 3: On one side, my experience with my parents, you know,

676
00:30:58,560 --> 00:31:02,520
Speaker 3: having all these employees, you know, all the politicians coming

677
00:31:02,600 --> 00:31:07,240
Speaker 3: through every day, taught me government contracting because that's a

678
00:31:07,280 --> 00:31:10,840
Speaker 3: lot of it is a sense of I don't call

679
00:31:10,880 --> 00:31:12,640
Speaker 3: a quid pro quote it's a pro quote.

680
00:31:12,760 --> 00:31:12,960
Speaker 2: Right.

681
00:31:13,640 --> 00:31:18,760
Speaker 3: There is a fundamental human principle called reciprocity.

682
00:31:19,560 --> 00:31:21,840
Speaker 4: Right, you do for me, I do for you, but

683
00:31:21,880 --> 00:31:23,080
Speaker 4: you ain't doing it for me. I ain't doing much

684
00:31:23,080 --> 00:31:23,320
Speaker 4: for you.

685
00:31:23,720 --> 00:31:25,200
Speaker 3: And the reason you need to get my attention is

686
00:31:25,200 --> 00:31:26,960
Speaker 3: because you want me to prioritize your priority.

687
00:31:27,000 --> 00:31:28,040
Speaker 4: I got my own priorities.

688
00:31:28,360 --> 00:31:30,160
Speaker 3: So in order to do that, you got to incentivize me

689
00:31:30,440 --> 00:31:33,920
Speaker 3: my experience that a creative taught me, train me. And

690
00:31:33,960 --> 00:31:36,520
Speaker 3: that's the skills that I deployed when I looked at

691
00:31:36,520 --> 00:31:39,640
Speaker 3: all of my data and identified which one moved the needle.

692
00:31:40,040 --> 00:31:43,040
Speaker 4: As I gave you the example with the homeless program.

693
00:31:42,680 --> 00:31:45,080
Speaker 3: And execute it and put together operating rhythm to push

694
00:31:45,120 --> 00:31:46,920
Speaker 3: every day to improve our performance.

695
00:31:47,000 --> 00:31:47,920
Speaker 4: Earns what's going on.

696
00:31:48,080 --> 00:31:51,360
Speaker 1: Traditional universities are outdated and don't teach you how to

697
00:31:51,400 --> 00:31:52,360
Speaker 1: become an entrepreneur.

698
00:31:52,800 --> 00:31:55,600
Speaker 2: They just teach you how to become an employee. You

699
00:31:55,640 --> 00:31:57,960
Speaker 2: go to school for four years and you leave with

700
00:31:58,120 --> 00:32:03,360
Speaker 2: nothing but debt. He Eyl University, our curriculum is much different.

701
00:32:03,480 --> 00:32:06,120
Speaker 1: Our university teaches you real world skills that you can

702
00:32:06,200 --> 00:32:09,640
Speaker 1: use to gain financial freedom right away. In traditional universities,

703
00:32:09,680 --> 00:32:12,320
Speaker 1: you learn from professors that have never did what they teach,

704
00:32:12,600 --> 00:32:14,520
Speaker 1: and they teach you how to become an employee. At

705
00:32:14,560 --> 00:32:17,600
Speaker 1: our university, we use instructors that are currently successful in

706
00:32:17,680 --> 00:32:20,520
Speaker 1: specific field that they teach, and they teach you how

707
00:32:20,560 --> 00:32:21,560
Speaker 1: to become an entrepreneur.

708
00:32:21,640 --> 00:32:25,520
Speaker 2: For a limited time only, you can join eyl University

709
00:32:25,600 --> 00:32:29,160
Speaker 2: for twenty five percent off of the annual membership. Learn

710
00:32:29,200 --> 00:32:32,560
Speaker 2: about stocks, credit, real estate, crypto and more. Go to

711
00:32:32,840 --> 00:32:36,840
Speaker 2: eyluniversity dot com right now and sign up to become

712
00:32:36,880 --> 00:32:39,080
Speaker 2: an earner. Don't wait, don't hesitate it over there now.

713
00:32:39,120 --> 00:32:42,320
Speaker 3: He had a conversation earlier Troy about you're asking me

714
00:32:42,480 --> 00:32:43,640
Speaker 3: if someone wednsday office.

715
00:32:43,720 --> 00:32:46,320
Speaker 4: It was with the question was, well, while.

716
00:32:46,120 --> 00:32:47,120
Speaker 2: They keep raising money?

717
00:32:47,360 --> 00:32:50,200
Speaker 3: Yeah, yeah, they keep raising money because they may be

718
00:32:50,320 --> 00:32:53,239
Speaker 3: borrowing to pay for the TV commercials and they need

719
00:32:53,280 --> 00:32:55,680
Speaker 3: to pay that money back. The other thing that happens

720
00:32:55,680 --> 00:32:57,560
Speaker 3: too is they always want to have more money because

721
00:32:57,560 --> 00:33:01,800
Speaker 3: they can then keem make or queen. So now let's

722
00:33:01,800 --> 00:33:05,480
Speaker 3: say the person's mayor or governor, and now they want

723
00:33:05,520 --> 00:33:08,360
Speaker 3: to hand pick city council, right, so they want to

724
00:33:08,360 --> 00:33:10,800
Speaker 3: give that city councilor member that they want so they

725
00:33:10,840 --> 00:33:13,440
Speaker 3: know that they'll vote for whatever they their initiatives are

726
00:33:13,600 --> 00:33:15,240
Speaker 3: they need to raise money for them, so they'll take

727
00:33:15,240 --> 00:33:17,840
Speaker 3: the money that they raise for their campaign and then

728
00:33:17,880 --> 00:33:22,320
Speaker 3: donate it to keeammate to kind of build a powerful

729
00:33:22,600 --> 00:33:25,680
Speaker 3: position in government so they can make decisions they want

730
00:33:25,680 --> 00:33:26,920
Speaker 3: to make and help folks that they want to help.

731
00:33:28,640 --> 00:33:30,880
Speaker 4: The other reason is if they lose, they got debt.

732
00:33:31,720 --> 00:33:33,720
Speaker 3: See, if you win, you can always raise money because

733
00:33:33,720 --> 00:33:37,040
Speaker 3: now folks want to participate with you, right, the business people.

734
00:33:37,280 --> 00:33:40,120
Speaker 3: But when you lose, then you may have one hundred

735
00:33:40,160 --> 00:33:42,440
Speaker 3: thousand dollars in debt, a million dollars in debt, and

736
00:33:42,440 --> 00:33:44,640
Speaker 3: no one's gonna give you any money really because you lost.

737
00:33:44,960 --> 00:33:46,640
Speaker 4: So they always raise money just case they lose to

738
00:33:47,400 --> 00:33:48,000
Speaker 4: But anyway, so.

739
00:33:49,800 --> 00:33:56,080
Speaker 3: The understanding government relationships and understanding what people want by

740
00:33:56,160 --> 00:33:58,360
Speaker 3: the other side is training in Troy. I got my

741
00:33:58,400 --> 00:34:00,560
Speaker 3: training on, you know, how to I break my business

742
00:34:00,560 --> 00:34:03,560
Speaker 3: at the highest level through my company at a creative.

743
00:34:03,800 --> 00:34:05,600
Speaker 3: When I sold my company to a creative. They taught

744
00:34:05,600 --> 00:34:09,520
Speaker 3: me how to analyze data, how to synthesize it, how

745
00:34:09,600 --> 00:34:13,680
Speaker 3: to analyze and identify out of all of the data

746
00:34:13,760 --> 00:34:16,799
Speaker 3: points and metrics what actually moves needed the most, and

747
00:34:16,800 --> 00:34:20,040
Speaker 3: then create an operational rigor to push every day to

748
00:34:20,120 --> 00:34:21,000
Speaker 3: improve performance.

749
00:34:21,440 --> 00:34:22,600
Speaker 2: I think that's incredible. Right.

750
00:34:22,800 --> 00:34:25,120
Speaker 1: A lot of times people here, someone sold their company

751
00:34:25,160 --> 00:34:27,360
Speaker 1: and they took the cash and they walked away and

752
00:34:27,440 --> 00:34:29,960
Speaker 1: tried to create a new company. Whereas you sold the

753
00:34:29,960 --> 00:34:34,640
Speaker 1: company and stayed on and learned yes, skills to help

754
00:34:34,680 --> 00:34:38,080
Speaker 1: you before you created a new company. That's right, that's incredible.

755
00:34:37,640 --> 00:34:39,760
Speaker 3: And that's why we killed them. Yeah, my last company,

756
00:34:39,800 --> 00:34:42,640
Speaker 3: we killed them and it benefited me financially. So my

757
00:34:42,760 --> 00:34:45,440
Speaker 3: last company based upon the size, So if you just

758
00:34:45,440 --> 00:34:48,680
Speaker 3: look at the metric of number of members, which is

759
00:34:48,760 --> 00:34:52,440
Speaker 3: usually how they value manage care companies, we would have

760
00:34:52,440 --> 00:34:55,400
Speaker 3: sold our company for forty million dollars, but because we

761
00:34:55,400 --> 00:34:58,000
Speaker 3: were so profitable, we sold a company four hundred and

762
00:34:58,000 --> 00:35:03,240
Speaker 3: twenty million dollars. And that profitability was a was directly

763
00:35:03,280 --> 00:35:06,480
Speaker 3: driven by really the training I received at the creator

764
00:35:06,640 --> 00:35:08,839
Speaker 3: to understand the data and then pushing it.

765
00:35:09,680 --> 00:35:12,960
Speaker 2: So what was the last company that you sold, Like,

766
00:35:13,000 --> 00:35:15,440
Speaker 2: what was the same type of services?

767
00:35:15,440 --> 00:35:16,240
Speaker 4: Provide insurance?

768
00:35:16,400 --> 00:35:18,000
Speaker 3: That was insurance, that was a Medicaid health plan, that

769
00:35:18,000 --> 00:35:20,200
Speaker 3: was Medicad insurance trusted or trusted.

770
00:35:20,239 --> 00:35:23,280
Speaker 2: So you was providing the insurance for the Medicaid.

771
00:35:23,840 --> 00:35:26,800
Speaker 3: So people who have Medicaid. They have an insurance company

772
00:35:26,800 --> 00:35:28,720
Speaker 3: and I was one of the providers. This is interesting,

773
00:35:28,719 --> 00:35:30,279
Speaker 3: It's something that I've never even heard of.

774
00:35:30,320 --> 00:35:34,000
Speaker 1: Speaking of Medicare, you actually bought a healthcare plan from

775
00:35:34,000 --> 00:35:35,520
Speaker 1: Michigan Tenant in twenty sixteen.

776
00:35:35,640 --> 00:35:35,839
Speaker 2: Yeah.

777
00:35:35,960 --> 00:35:40,200
Speaker 3: Tenants the largest for profit health care system in the country.

778
00:35:40,719 --> 00:35:42,879
Speaker 4: So here's how it goes. It kind of mixed it both, right.

779
00:35:43,040 --> 00:35:43,920
Speaker 2: So one.

780
00:35:46,320 --> 00:35:48,760
Speaker 3: There was a person who used to be a Supreme

781
00:35:48,800 --> 00:35:52,440
Speaker 3: Court justice in Michigan, and we're very closely with my

782
00:35:52,600 --> 00:35:57,040
Speaker 3: parents when I became when I started my entrepreneurial journey,

783
00:35:57,120 --> 00:35:57,839
Speaker 3: remember my parents.

784
00:35:57,920 --> 00:35:58,680
Speaker 4: The other thing about.

785
00:35:58,440 --> 00:35:59,480
Speaker 2: Government businesses, When.

786
00:36:00,840 --> 00:36:04,839
Speaker 3: You're on the positive side where people like you, it's

787
00:36:04,880 --> 00:36:08,040
Speaker 3: extraordinarily beneficial. But then something can happen where you get

788
00:36:08,080 --> 00:36:12,319
Speaker 3: on the wrong side of politics. And so my parents

789
00:36:12,360 --> 00:36:16,040
Speaker 3: got on the wrong side and lost everything. But then

790
00:36:16,040 --> 00:36:18,120
Speaker 3: I was building my own This person became a good

791
00:36:18,120 --> 00:36:21,240
Speaker 3: friend of mine, kind of like a mentor to a degree,

792
00:36:21,600 --> 00:36:28,239
Speaker 3: and it just so happened. He ended up becoming the

793
00:36:28,320 --> 00:36:32,080
Speaker 3: CEO of one of the Tenant hospitals in Detroit, and

794
00:36:32,080 --> 00:36:34,600
Speaker 3: he told me that from corporate they had made a

795
00:36:34,680 --> 00:36:40,479
Speaker 3: decision to sell their Medicaid help plan assets, and because

796
00:36:40,520 --> 00:36:42,560
Speaker 3: of that relationship, he told me about it. And then

797
00:36:42,680 --> 00:36:46,640
Speaker 3: I contacted a guy who I made chairman of my board.

798
00:36:47,160 --> 00:36:50,160
Speaker 3: He's a very good friend of mine. I contacted so

799
00:36:50,239 --> 00:36:53,480
Speaker 3: my guy who was running the hospital told me. I

800
00:36:53,480 --> 00:36:57,520
Speaker 3: contacted my guy who is in that world of high power.

801
00:36:58,719 --> 00:37:00,000
Speaker 4: Executives in healthcare.

802
00:37:01,080 --> 00:37:01,839
Speaker 2: None of them were black.

803
00:37:02,920 --> 00:37:06,040
Speaker 3: He talked to them and they confirmed, yes, we are

804
00:37:06,080 --> 00:37:08,320
Speaker 3: looking to sell their as set. And so you know

805
00:37:08,400 --> 00:37:09,680
Speaker 3: it was in a few months they sold it to us.

806
00:37:09,800 --> 00:37:11,279
Speaker 1: What's the type of tag on that, because I know

807
00:37:11,320 --> 00:37:13,560
Speaker 1: you later sold it to Henry Ford.

808
00:37:13,760 --> 00:37:14,879
Speaker 4: We bought it for.

809
00:37:17,120 --> 00:37:19,360
Speaker 3: What we had to put in. It's called risk base capital.

810
00:37:19,400 --> 00:37:22,040
Speaker 3: I think all in we probably put in like thirteen.

811
00:37:21,680 --> 00:37:24,839
Speaker 2: Million, okay, you know, and then three years later we.

812
00:37:24,800 --> 00:37:27,640
Speaker 3: Sold it for twenty two and a half. Yeah, but

813
00:37:27,680 --> 00:37:29,720
Speaker 3: it was a crazy story. But here's the real story.

814
00:37:30,040 --> 00:37:32,040
Speaker 3: That ain't the story how much money we made. The

815
00:37:32,040 --> 00:37:34,400
Speaker 3: real story, Troy, is that we bought it and they

816
00:37:34,400 --> 00:37:37,040
Speaker 3: gave us these financials which showed it was making six

817
00:37:37,080 --> 00:37:39,560
Speaker 3: million dollars a year in profit, half million a month,

818
00:37:39,840 --> 00:37:42,040
Speaker 3: half million a month, half million a month.

819
00:37:42,560 --> 00:37:44,560
Speaker 4: The first month I owned it, we lost.

820
00:37:44,320 --> 00:37:47,799
Speaker 2: A million dollars. You did, so he.

821
00:37:47,840 --> 00:37:49,360
Speaker 4: Sell me an asset with all the financials.

822
00:37:49,400 --> 00:37:51,920
Speaker 3: It's a big public traded company, right, one that you

823
00:37:51,920 --> 00:37:52,560
Speaker 3: would trust.

824
00:37:53,040 --> 00:37:54,400
Speaker 4: Half million dollars a month they make it.

825
00:37:54,400 --> 00:37:56,840
Speaker 3: But somehow my first month I lose a million, Second

826
00:37:56,880 --> 00:37:59,440
Speaker 3: month I lose another million, Third month I lose another million.

827
00:37:59,440 --> 00:38:03,239
Speaker 3: So now what's happening. My private equity partners are come

828
00:38:03,360 --> 00:38:05,560
Speaker 3: to take my company over from it. I got stories

829
00:38:05,560 --> 00:38:07,879
Speaker 3: with days they come to take it from me. Itu They said,

830
00:38:07,880 --> 00:38:09,359
Speaker 3: now we gotta put money in the company. Of course,

831
00:38:09,360 --> 00:38:10,640
Speaker 3: time you can't put the money up, so we gotta

832
00:38:10,640 --> 00:38:12,799
Speaker 3: put the money up. We're gonna delute you down and

833
00:38:12,800 --> 00:38:15,359
Speaker 3: take your equity to put the money up. And it's

834
00:38:15,800 --> 00:38:19,239
Speaker 3: becoming hostile because we have our investors, who's money in

835
00:38:19,280 --> 00:38:21,160
Speaker 3: this thing. We got to do what we have to

836
00:38:21,200 --> 00:38:23,759
Speaker 3: do to retain as much value as we can. So

837
00:38:23,800 --> 00:38:25,520
Speaker 3: now they start showing up in my office every day,

838
00:38:26,200 --> 00:38:29,839
Speaker 3: taking over my finance. So put my CFO out the way,

839
00:38:29,920 --> 00:38:30,760
Speaker 3: took over his office.

840
00:38:30,800 --> 00:38:32,080
Speaker 4: They coming every day. So I'm all right, now I

841
00:38:32,080 --> 00:38:34,840
Speaker 4: got to fix the problem. So fix problem? How do

842
00:38:34,880 --> 00:38:35,480
Speaker 4: I do it?

843
00:38:35,520 --> 00:38:38,080
Speaker 3: Make all my vendors renegotiate their rates for me, cut

844
00:38:38,120 --> 00:38:41,080
Speaker 3: everything in half or I'm suing y'all, and I'm claiming

845
00:38:41,160 --> 00:38:42,680
Speaker 3: fraud and everything.

846
00:38:42,840 --> 00:38:45,200
Speaker 4: So now I call a State of Michigan. So here's

847
00:38:45,200 --> 00:38:45,520
Speaker 4: what things.

848
00:38:45,600 --> 00:38:48,480
Speaker 3: No matter how big the companies are, company is in healthcare,

849
00:38:49,320 --> 00:38:51,720
Speaker 3: there's one thing that can destroy a company.

850
00:38:51,800 --> 00:38:52,839
Speaker 4: It's called compliance.

851
00:38:53,960 --> 00:38:57,719
Speaker 3: So if government believes that a company is not being compliant,

852
00:38:57,760 --> 00:39:00,680
Speaker 3: they could tank the whole company. And so so I

853
00:39:00,719 --> 00:39:04,960
Speaker 3: proactively called the State of Michigan's insurance bureau. Even though

854
00:39:05,160 --> 00:39:07,759
Speaker 3: I presentage if they called me, they didn't. I called

855
00:39:07,880 --> 00:39:11,480
Speaker 3: them and I was threatening, well, listen if the insurance

856
00:39:11,520 --> 00:39:15,520
Speaker 3: bureau approved them. So what happens is when you're an

857
00:39:15,560 --> 00:39:17,960
Speaker 3: insurance company, you make a profit. You can't really take

858
00:39:18,000 --> 00:39:20,799
Speaker 3: your profits out every year. You just retain them and

859
00:39:20,800 --> 00:39:23,279
Speaker 3: then when you sell your company, then you get all

860
00:39:23,320 --> 00:39:26,000
Speaker 3: your money. So when they sold the company, we gave

861
00:39:26,040 --> 00:39:28,200
Speaker 3: them thirteen million. They took like ten million out the

862
00:39:28,200 --> 00:39:30,560
Speaker 3: company that they had to retain earnings. So then I

863
00:39:30,600 --> 00:39:33,360
Speaker 3: contacted the insurance bureau and I threatened, I tell you

864
00:39:33,360 --> 00:39:35,840
Speaker 3: a funny story too, you know, let me tell you

865
00:39:35,840 --> 00:39:38,640
Speaker 3: the story. So I called the insurance bureau, say no,

866
00:39:38,680 --> 00:39:40,080
Speaker 3: I'm on record, call them to have a meeting.

867
00:39:41,520 --> 00:39:42,480
Speaker 4: Being in healthcare forever.

868
00:39:42,560 --> 00:39:44,840
Speaker 3: So we go there and I got my private equity partners, right,

869
00:39:44,880 --> 00:39:46,200
Speaker 3: they talking all this shit to me. They're trying to

870
00:39:46,200 --> 00:39:49,440
Speaker 3: take my company from me. Dudes resign from the board

871
00:39:49,600 --> 00:39:51,719
Speaker 3: so they can sue me. So I knew that do

872
00:39:51,840 --> 00:39:53,319
Speaker 3: resign for the board. That means about to ssume because

873
00:39:53,320 --> 00:39:55,480
Speaker 3: they can't ssue me being on the board because it's

874
00:39:55,520 --> 00:39:57,560
Speaker 3: complex Adventures. So I'm like, all right, this is a

875
00:39:57,600 --> 00:40:00,600
Speaker 3: Jewish guy. They about to sue me, and I got

876
00:40:00,640 --> 00:40:02,680
Speaker 3: all these problems to take it over my company anyway,

877
00:40:02,719 --> 00:40:04,440
Speaker 3: So we go and I got to get my money back.

878
00:40:04,440 --> 00:40:06,359
Speaker 3: I don't forget my money back, and I renegotiate my

879
00:40:06,480 --> 00:40:07,160
Speaker 3: vnder contracts.

880
00:40:07,200 --> 00:40:08,040
Speaker 4: I can save everything.

881
00:40:08,760 --> 00:40:11,480
Speaker 3: So we get to Dallas and all these guys people

882
00:40:11,480 --> 00:40:12,919
Speaker 3: come to all I said to me, all this stuff

883
00:40:12,960 --> 00:40:16,160
Speaker 3: to me. We get there and they quiet scared to talk.

884
00:40:16,560 --> 00:40:19,120
Speaker 3: But here's what they So I threatened the dude. I said, yeah,

885
00:40:19,160 --> 00:40:20,640
Speaker 3: you know, y'all took that money out and you sold

886
00:40:20,640 --> 00:40:23,880
Speaker 3: the company to me. And you know, I got to

887
00:40:23,880 --> 00:40:25,520
Speaker 3: meet with the surance bureau. They want to meet with

888
00:40:25,560 --> 00:40:28,600
Speaker 3: me about what happened because they see our financials have deteriorated.

889
00:40:29,480 --> 00:40:32,720
Speaker 3: So I don't know, but that's the problem. So the dude,

890
00:40:33,200 --> 00:40:35,600
Speaker 3: he said, ah, I did this team talking. I come back.

891
00:40:35,640 --> 00:40:39,160
Speaker 3: I said, you know, I mean the assurance Bureau and

892
00:40:40,239 --> 00:40:42,839
Speaker 3: y'all took that money out. I don't know what they

893
00:40:42,880 --> 00:40:44,920
Speaker 3: want to talk about. He kind of ignored it again.

894
00:40:45,040 --> 00:40:48,760
Speaker 3: I said the third time, I'm sorry, I said. He said, God,

895
00:40:48,920 --> 00:40:51,080
Speaker 3: damn it, duncan if you threatened me one more time,

896
00:40:53,239 --> 00:40:55,440
Speaker 3: and I looked at him, I looked out the window.

897
00:40:55,560 --> 00:40:57,480
Speaker 3: I said, all right, I won't say it again. That's

898
00:40:57,480 --> 00:40:58,319
Speaker 3: gonna make sure you heard me.

899
00:40:59,320 --> 00:41:01,200
Speaker 4: Came back. I probably a day later, and they agreed

900
00:41:01,360 --> 00:41:02,319
Speaker 4: to give us some money back.

901
00:41:02,920 --> 00:41:06,360
Speaker 3: Got my money back, and still renegotiated my contracts with

902
00:41:06,440 --> 00:41:09,399
Speaker 3: my providers who had to pay my vendors. So then

903
00:41:09,480 --> 00:41:11,520
Speaker 3: now now that they get my money back, now my

904
00:41:11,560 --> 00:41:15,239
Speaker 3: cost with Lord going forward, it's up making money. I

905
00:41:15,239 --> 00:41:21,279
Speaker 3: probably made another twenty million. It's unbelievable, unbelievable. So so

906
00:41:21,400 --> 00:41:22,960
Speaker 3: that I got my pe partners off of me and

907
00:41:23,000 --> 00:41:26,880
Speaker 3: save My company ended up being more profitable, and then Henry's,

908
00:41:26,960 --> 00:41:28,880
Speaker 3: but then the company still wasn't making money and it

909
00:41:28,920 --> 00:41:31,160
Speaker 3: was it wasn't working. So I was able to get

910
00:41:31,200 --> 00:41:35,200
Speaker 3: Henry Ford health System health System in Detroit to buy

911
00:41:35,200 --> 00:41:37,239
Speaker 3: my company, and I made a profit, so on something

912
00:41:37,280 --> 00:41:39,360
Speaker 3: that was losing million dollars a month. It could attaint everything,

913
00:41:39,480 --> 00:41:43,959
Speaker 3: DC could attaint everything. I ended up some one hundred

914
00:41:43,960 --> 00:41:45,759
Speaker 3: and twenty million dollars. It may profits all over the place.

915
00:41:46,320 --> 00:41:47,960
Speaker 3: And then the very oh guys.

916
00:41:47,760 --> 00:41:49,200
Speaker 2: So yeah, I only want to just breeze over one

917
00:41:49,239 --> 00:41:51,480
Speaker 2: hundred and twenty million you sold the company for so

918
00:41:51,880 --> 00:41:53,760
Speaker 2: all right, so what is the what was the process

919
00:41:53,760 --> 00:41:55,600
Speaker 2: of you selling that? Like when was you saying, Okay,

920
00:41:55,600 --> 00:41:58,200
Speaker 2: this is the time to start actively looking for somebody

921
00:41:58,280 --> 00:42:00,879
Speaker 2: to buy it, or did they approach you and talk

922
00:42:00,920 --> 00:42:03,680
Speaker 2: about that, like how you actually value the ebadah and

923
00:42:03,680 --> 00:42:05,760
Speaker 2: all of that stuff, like how you value the selling

924
00:42:05,800 --> 00:42:07,400
Speaker 2: of a company, because a lot of times people just

925
00:42:07,440 --> 00:42:09,080
Speaker 2: had like I sold the company, but they don't actually

926
00:42:09,080 --> 00:42:11,680
Speaker 2: know like the details that go into selling a company.

927
00:42:11,840 --> 00:42:17,960
Speaker 4: Yeahs so okay, first.

928
00:42:20,520 --> 00:42:24,000
Speaker 3: In our industry, because I got so many stories I

929
00:42:24,000 --> 00:42:28,000
Speaker 3: can tell you which would be fun. But in our industry,

930
00:42:28,760 --> 00:42:32,960
Speaker 3: there is a framework for how you value our companies, right,

931
00:42:33,360 --> 00:42:37,400
Speaker 3: and it's ebit us roughly eight times EBI right, so

932
00:42:37,440 --> 00:42:39,080
Speaker 3: you could value it that way or as I told you,

933
00:42:39,080 --> 00:42:41,240
Speaker 3: before you value it on the total number of membership.

934
00:42:41,440 --> 00:42:42,799
Speaker 4: So call it like a million dollars of members.

935
00:42:42,840 --> 00:42:45,920
Speaker 3: Yere forty thousand members million dollars, but it'd be like

936
00:42:45,920 --> 00:42:51,120
Speaker 3: forty million dollars right, Or you could do it about Ebia.

937
00:42:51,840 --> 00:42:54,560
Speaker 3: So but what happened with us is I didn't want

938
00:42:54,560 --> 00:42:56,960
Speaker 3: to sell my company. I wanted to keep it and

939
00:42:57,040 --> 00:42:58,799
Speaker 3: keep growing it. The problem I ran into is even

940
00:42:58,800 --> 00:43:00,879
Speaker 3: though we were the highest performing on every metric, We're

941
00:43:00,880 --> 00:43:03,880
Speaker 3: the most profitable, you know, every metric about getting people healthier,

942
00:43:03,920 --> 00:43:06,120
Speaker 3: we were the best at it. I couldn't win other

943
00:43:06,200 --> 00:43:09,360
Speaker 3: states because what I tell you, we had no black governors.

944
00:43:09,880 --> 00:43:11,880
Speaker 3: You know, it's just and you had that black governor

945
00:43:11,920 --> 00:43:14,480
Speaker 3: to push to win the contract, and we didn't have it.

946
00:43:14,960 --> 00:43:17,120
Speaker 3: And my PEE partners, I didn't want to be deluted,

947
00:43:17,160 --> 00:43:19,320
Speaker 3: so I don't want them putting up too much money.

948
00:43:19,560 --> 00:43:20,680
Speaker 4: And then I get de looted down.

949
00:43:20,800 --> 00:43:22,680
Speaker 3: So I'm owning, you know, five ten percent of company

950
00:43:22,680 --> 00:43:24,480
Speaker 3: where I built it from supratch. It's the time I

951
00:43:24,520 --> 00:43:26,480
Speaker 3: was owning forty. I want to keep my forty. See

952
00:43:26,480 --> 00:43:31,600
Speaker 3: all these different factors. So but then what happened as

953
00:43:31,640 --> 00:43:34,200
Speaker 3: I's shared with you. So anyway, so my Pea firm

954
00:43:35,400 --> 00:43:37,520
Speaker 3: when they bought in, so I started a company without

955
00:43:37,560 --> 00:43:40,120
Speaker 3: private equity. I had a partner of mine who I

956
00:43:40,120 --> 00:43:41,879
Speaker 3: met out here in La Do, a good friend of mine,

957
00:43:42,960 --> 00:43:46,239
Speaker 3: who arranged to put up the first couple million dollars,

958
00:43:46,840 --> 00:43:48,560
Speaker 3: and then I end up having them bought out because

959
00:43:48,640 --> 00:43:53,120
Speaker 3: relationship dynamics got difficult to manage through.

960
00:43:53,920 --> 00:43:55,680
Speaker 4: So got in bought out, and we got bought out.

961
00:43:55,800 --> 00:43:58,799
Speaker 3: The company was worth twenty five million dollars total, so

962
00:43:58,840 --> 00:44:00,759
Speaker 3: P came in at twenty five million. But remember my

963
00:44:00,840 --> 00:44:05,120
Speaker 3: soul was one hundred twenty millions. But when they came

964
00:44:05,160 --> 00:44:07,160
Speaker 3: in three years earlier. You know, their whole thing is

965
00:44:07,200 --> 00:44:09,239
Speaker 3: you make a profit, you create value, then you sell

966
00:44:09,239 --> 00:44:12,279
Speaker 3: it and you have this you know this game. So

967
00:44:12,320 --> 00:44:13,960
Speaker 3: they had been looking to sell the company, but I

968
00:44:14,040 --> 00:44:16,319
Speaker 3: kept wanting to stay in the game because to me, shit,

969
00:44:16,360 --> 00:44:18,919
Speaker 3: if I'm worth a hundred million dollars now and we're small,

970
00:44:18,960 --> 00:44:22,279
Speaker 3: if I get bigger, we're worse more a dallion two billion.

971
00:44:22,280 --> 00:44:25,600
Speaker 3: I mean, I can keep going. But one thing that

972
00:44:25,680 --> 00:44:27,600
Speaker 3: I think was a mistake that I made is I

973
00:44:27,600 --> 00:44:31,000
Speaker 3: started making so much money that I got got loose

974
00:44:31,360 --> 00:44:33,400
Speaker 3: and I was just starting to spend too much so

975
00:44:33,520 --> 00:44:37,080
Speaker 3: was showing with shot earlier. You know, I did, amongst

976
00:44:37,120 --> 00:44:40,880
Speaker 3: many things. I had this big party in New York

977
00:44:40,960 --> 00:44:44,560
Speaker 3: City where I told them I also had Tretch, I

978
00:44:44,560 --> 00:44:47,480
Speaker 3: had naughtybody, Naguors, I had uh at a Christmas at

979
00:44:47,480 --> 00:44:49,880
Speaker 3: your Christmas Potris probably had Genuine. I danced with Genuine

980
00:44:50,560 --> 00:44:53,239
Speaker 3: doing the moves of shit. I mean I was. We

981
00:44:53,320 --> 00:44:57,440
Speaker 3: had Freddie Jackson, you call it. I had everybody showing up.

982
00:44:57,960 --> 00:45:03,520
Speaker 3: I was like reinvigorating careers talk the first verses, Yeah,

983
00:45:03,600 --> 00:45:06,239
Speaker 3: real talk. But let me tell you what happened. So

984
00:45:06,360 --> 00:45:10,000
Speaker 3: when you're in healthcare government, there's always these fundraisers, small

985
00:45:10,120 --> 00:45:12,120
Speaker 3: not for profits trying to raise money and it's like

986
00:45:12,120 --> 00:45:15,600
Speaker 3: this important thing, and all the positians show up. So

987
00:45:15,640 --> 00:45:20,400
Speaker 3: I'm at this Christmas dinner and the one woman who's

988
00:45:20,440 --> 00:45:23,520
Speaker 3: like CEO of some small not for profit organization healthcare,

989
00:45:23,600 --> 00:45:25,800
Speaker 3: she comes up to me. She said, yeah, time to

990
00:45:25,800 --> 00:45:28,120
Speaker 3: hear you making all this money. You know you're doing

991
00:45:28,120 --> 00:45:28,560
Speaker 3: real well.

992
00:45:28,640 --> 00:45:28,960
Speaker 2: Huh.

993
00:45:29,560 --> 00:45:33,880
Speaker 3: And when she made that comment, I knew coming out

994
00:45:34,120 --> 00:45:38,560
Speaker 3: just like remember, yeah, put the mink on through and

995
00:45:38,560 --> 00:45:40,600
Speaker 3: through it in the in the uh in the fireplace.

996
00:45:41,160 --> 00:45:43,640
Speaker 3: And I'm like, damn the word and got out.

997
00:45:43,600 --> 00:45:46,000
Speaker 1: The trusts, the Pink Catialact and good Fellas Pink Cali,

998
00:45:46,040 --> 00:45:47,719
Speaker 1: good Fellas, Oh take that ship back.

999
00:45:48,280 --> 00:45:48,719
Speaker 2: It was.

1000
00:45:49,239 --> 00:45:51,360
Speaker 4: But I bought a Bentley when I got to d C.

1001
00:45:51,480 --> 00:45:53,920
Speaker 3: I had a read uh not eleven because in my

1002
00:45:53,960 --> 00:45:55,840
Speaker 3: first company. But I never drove it and I sold

1003
00:45:55,840 --> 00:45:58,200
Speaker 3: it because I had to be low key. But then

1004
00:45:58,239 --> 00:45:59,839
Speaker 3: you start making so much money you just can't help yourself.

1005
00:45:59,880 --> 00:46:01,200
Speaker 2: That to Bentley, I'm.

1006
00:46:01,080 --> 00:46:01,840
Speaker 4: Kind of I'm driving.

1007
00:46:01,840 --> 00:46:02,560
Speaker 2: Look i'm driving.

1008
00:46:02,680 --> 00:46:05,160
Speaker 3: Look I'm driving like this and ship like real talking

1009
00:46:05,200 --> 00:46:07,920
Speaker 3: my hat down, lass rout in the city and this

1010
00:46:08,000 --> 00:46:09,839
Speaker 3: is DC is small.

1011
00:46:09,640 --> 00:46:10,480
Speaker 4: But I couldn't.

1012
00:46:10,480 --> 00:46:13,760
Speaker 3: You can't control yourself. You cannot control yourself in this situation.

1013
00:46:14,800 --> 00:46:17,560
Speaker 3: In the situation itself possible, it's impossible.

1014
00:46:17,960 --> 00:46:21,080
Speaker 4: That's why every movie the same should happen. No matter

1015
00:46:21,080 --> 00:46:21,799
Speaker 4: how much advice you.

1016
00:46:21,800 --> 00:46:23,720
Speaker 2: Did, you couldn't do it.

1017
00:46:24,200 --> 00:46:26,440
Speaker 3: So but but here's a here's a but here's a

1018
00:46:26,480 --> 00:46:29,759
Speaker 3: real life story. So right, the pink Cadillac, you know,

1019
00:46:29,880 --> 00:46:34,600
Speaker 3: the Chinchilla. When I was growing up, it's about the

1020
00:46:34,600 --> 00:46:36,480
Speaker 3: time we lost everything and I came back home to

1021
00:46:36,480 --> 00:46:39,400
Speaker 3: try to save it. My stepfather had just sold a

1022
00:46:39,400 --> 00:46:42,759
Speaker 3: piece of property which was attached to the hospital for

1023
00:46:42,840 --> 00:46:45,520
Speaker 3: two million dollars and he was running around this two

1024
00:46:45,520 --> 00:46:48,040
Speaker 3: million dollar check and he was showing it off. It

1025
00:46:48,080 --> 00:46:49,800
Speaker 3: was one moment he was in the casino in Detroit

1026
00:46:50,080 --> 00:46:53,120
Speaker 3: and he and it was this dude I don't mention

1027
00:46:53,239 --> 00:46:56,560
Speaker 3: his name, who my stepfather was bragging to. Oh, you know,

1028
00:46:56,640 --> 00:46:58,400
Speaker 3: y'all think y'are hurting me because he was gonna.

1029
00:46:58,160 --> 00:46:59,040
Speaker 4: Beat out of politics.

1030
00:46:59,040 --> 00:47:00,719
Speaker 3: I still I just got me and he's showing us

1031
00:47:00,719 --> 00:47:03,359
Speaker 3: two milli dollars check, and I truly believe. And he'll

1032
00:47:03,360 --> 00:47:07,239
Speaker 3: tell you that was the start of the full collapse, right.

1033
00:47:07,280 --> 00:47:09,239
Speaker 3: He was he could maybe fix it, but after that

1034
00:47:09,600 --> 00:47:12,160
Speaker 3: it just it was a rap because this dude controlled

1035
00:47:12,200 --> 00:47:13,960
Speaker 3: the hospital. He was a general counsel for hospital, and

1036
00:47:14,000 --> 00:47:16,720
Speaker 3: they just started suing the h most. The long story short,

1037
00:47:17,560 --> 00:47:20,600
Speaker 3: I knew at that moment it was a rap for me.

1038
00:47:21,160 --> 00:47:25,320
Speaker 3: So therefore I needed to sell the company to extract

1039
00:47:25,360 --> 00:47:26,880
Speaker 3: as much value as I can before I end up

1040
00:47:26,920 --> 00:47:29,200
Speaker 3: losing everything. And the thing about government contracts, in any

1041
00:47:29,239 --> 00:47:33,640
Speaker 3: contract business is it has its positives, it's pros, it

1042
00:47:33,680 --> 00:47:37,640
Speaker 3: has its cons. Now, the positives contract business is that

1043
00:47:37,760 --> 00:47:40,919
Speaker 3: once you have a contract, you got revenue flaw right

1044
00:47:41,160 --> 00:47:46,920
Speaker 3: boom revenue flaw. The downside is when you lose your contract,

1045
00:47:47,160 --> 00:47:50,560
Speaker 3: Animo revenue flow right. So I went from getting two

1046
00:47:50,560 --> 00:47:53,000
Speaker 3: in a milli dollars year coming through. So now if

1047
00:47:53,000 --> 00:47:55,399
Speaker 3: I don't have nothing, I lose my contract, I have zero.

1048
00:47:56,320 --> 00:47:56,880
Speaker 4: So I'm not a.

1049
00:47:56,920 --> 00:47:59,959
Speaker 3: Situation where I could go from verry risky. It's all risks,

1050
00:48:00,239 --> 00:48:01,960
Speaker 3: all enough, and it's literally all enough.

1051
00:48:02,600 --> 00:48:02,960
Speaker 2: Right now.

1052
00:48:02,960 --> 00:48:05,160
Speaker 3: If you're in retail business with our cause like a

1053
00:48:05,280 --> 00:48:08,000
Speaker 3: restaurant a, you're selling something, whatever you're doing, and you

1054
00:48:08,080 --> 00:48:11,520
Speaker 3: have customers buying your product and service, they don't just

1055
00:48:11,560 --> 00:48:14,520
Speaker 3: cut you off. You know you have a real business, right,

1056
00:48:14,920 --> 00:48:16,880
Speaker 3: But in contract you can lose everything. The problem with

1057
00:48:16,920 --> 00:48:18,799
Speaker 3: the retails you got to build this big business. I

1058
00:48:18,800 --> 00:48:20,640
Speaker 3: start off, I got a twenty million dollars your revenue

1059
00:48:20,680 --> 00:48:23,720
Speaker 3: damn man. I mean it's big difference, big difference.

1060
00:48:23,800 --> 00:48:25,360
Speaker 4: You got to y'all. You know, you got to build.

1061
00:48:25,440 --> 00:48:28,200
Speaker 3: But then when you get it, you're not as much

1062
00:48:28,360 --> 00:48:31,919
Speaker 3: at risk contract, you're full risk. My partners were putting

1063
00:48:31,920 --> 00:48:34,359
Speaker 3: pressure on me to sell it, and I'm like, all right,

1064
00:48:34,400 --> 00:48:35,600
Speaker 3: I need to sell this company before I end up

1065
00:48:35,600 --> 00:48:35,959
Speaker 3: with nothing.

1066
00:48:36,320 --> 00:48:39,200
Speaker 2: So you sold January twenty twenty.

1067
00:48:39,520 --> 00:48:43,359
Speaker 1: Yeah, and then you announced three weeks later Jeddok, which

1068
00:48:43,400 --> 00:48:44,280
Speaker 1: is where you're at now.

1069
00:48:44,120 --> 00:48:46,000
Speaker 4: One week later, one week both. I want to just

1070
00:48:46,040 --> 00:48:46,879
Speaker 4: go back to quick.

1071
00:48:47,200 --> 00:48:50,400
Speaker 2: So this is very important for people, especially black entrepreneurs,

1072
00:48:50,400 --> 00:48:52,840
Speaker 2: because a lot of times I feel like we have

1073
00:48:53,520 --> 00:48:55,160
Speaker 2: it's a gift in the curse, but we have a

1074
00:48:55,320 --> 00:48:59,160
Speaker 2: deep emotional attachment to our business and people always criticize,

1075
00:48:59,239 --> 00:49:01,680
Speaker 2: not always by a life time they criticized people. It's like, well,

1076
00:49:01,680 --> 00:49:04,120
Speaker 2: we can never really grow as a community if we

1077
00:49:04,200 --> 00:49:07,600
Speaker 2: keep selling our businesses. But when you have to understand

1078
00:49:07,600 --> 00:49:10,080
Speaker 2: that there's no emotional attachment to business, you have to

1079
00:49:10,120 --> 00:49:13,040
Speaker 2: look at it from a very rational standpoint, and it's

1080
00:49:13,080 --> 00:49:14,880
Speaker 2: like you can sell a business and then scale to

1081
00:49:15,040 --> 00:49:18,400
Speaker 2: another business as well. So once you saw that a

1082
00:49:19,200 --> 00:49:21,920
Speaker 2: they was going to come at you because your lifestyle

1083
00:49:22,080 --> 00:49:25,640
Speaker 2: and then be just the risk, you just realized you

1084
00:49:25,680 --> 00:49:28,400
Speaker 2: did a calculation in your head, yep, and said it's

1085
00:49:28,440 --> 00:49:28,920
Speaker 2: time to go.

1086
00:49:29,000 --> 00:49:31,080
Speaker 4: That's right, exactly right.

1087
00:49:31,120 --> 00:49:34,160
Speaker 3: And because the where I grew up and again, my

1088
00:49:34,239 --> 00:49:36,160
Speaker 3: mother had a twelve care diamond ring and she gave

1089
00:49:36,200 --> 00:49:38,719
Speaker 3: way for practically nothing and all the firs and the

1090
00:49:38,800 --> 00:49:41,000
Speaker 3: cars and the house and everything because they were trying

1091
00:49:41,040 --> 00:49:45,200
Speaker 3: to keep that business open that clearly was closing. Gave

1092
00:49:45,280 --> 00:49:48,440
Speaker 3: way everything trying to keep it open. I realized that

1093
00:49:48,440 --> 00:49:52,120
Speaker 3: the most attachment was more of a curse and a blessing.

1094
00:49:52,239 --> 00:49:54,320
Speaker 3: Did you reach out to the Blue Cross bushel or

1095
00:49:54,320 --> 00:49:56,239
Speaker 3: did they reach out to you to sell it? And

1096
00:49:56,239 --> 00:49:59,840
Speaker 3: said they reached out to me. They reached out in

1097
00:50:00,080 --> 00:50:02,640
Speaker 3: then they were trying to get rid of me, so

1098
00:50:02,840 --> 00:50:06,880
Speaker 3: so you know, So then the district did this thing

1099
00:50:06,920 --> 00:50:09,319
Speaker 3: where they did another procurement, a new contract. So I

1100
00:50:09,360 --> 00:50:12,640
Speaker 3: just want a five year contract. Like eight months later

1101
00:50:12,680 --> 00:50:16,000
Speaker 3: they say, no, we're gonna do it again. We're gonna

1102
00:50:16,000 --> 00:50:17,480
Speaker 3: do another contract. So now you have to go through

1103
00:50:17,480 --> 00:50:20,120
Speaker 3: the process of winning a contract again. I just won.

1104
00:50:20,600 --> 00:50:23,040
Speaker 3: So I thought itself for five years. I mean, you know,

1105
00:50:23,600 --> 00:50:25,759
Speaker 3: I can try to grow or whatever. But then eight

1106
00:50:25,800 --> 00:50:28,239
Speaker 3: months later they put gonna do another procurement after they

1107
00:50:28,320 --> 00:50:30,640
Speaker 3: cut my race twice. Remember I making so much money.

1108
00:50:30,680 --> 00:50:32,640
Speaker 3: They cut my rates twice, only me, and then they

1109
00:50:32,640 --> 00:50:34,360
Speaker 3: did this new procurement, which to me was a message

1110
00:50:34,400 --> 00:50:35,160
Speaker 3: they kicking me out.

1111
00:50:35,520 --> 00:50:36,040
Speaker 2: It's a rap.

1112
00:50:37,000 --> 00:50:39,759
Speaker 4: So but ill love out of DC.

1113
00:50:41,360 --> 00:50:44,439
Speaker 3: I you know, Blue Cross connect connected with me, said

1114
00:50:44,440 --> 00:50:46,600
Speaker 3: they wanted to be in the Medicaid space and the

1115
00:50:46,640 --> 00:50:50,080
Speaker 3: company they bought didn't win the contract, but instead they

1116
00:50:50,120 --> 00:50:53,720
Speaker 3: were encouraged and to not negotiate a good deal anyway.

1117
00:50:55,040 --> 00:50:58,080
Speaker 2: Yeah. Yeah, so so you sell that then and then

1118
00:50:58,200 --> 00:50:59,800
Speaker 2: jet That's what yes, I was saying.

1119
00:51:00,080 --> 00:51:02,759
Speaker 1: And as you see the walls closing in, yeah, you're

1120
00:51:02,760 --> 00:51:04,799
Speaker 1: already drawn up the vision for the next thing.

1121
00:51:05,360 --> 00:51:07,360
Speaker 2: So talk about that process.

1122
00:51:07,480 --> 00:51:10,080
Speaker 1: I know it's closing in, but here comes the next thing,

1123
00:51:10,120 --> 00:51:13,120
Speaker 1: which is Jet Doc, which you announced a week after yourself.

1124
00:51:13,280 --> 00:51:13,520
Speaker 2: Yeah.

1125
00:51:13,600 --> 00:51:17,600
Speaker 3: So I didn't like, you know, I didn't want to

1126
00:51:17,640 --> 00:51:19,960
Speaker 3: sell my company, and I felt like I was being

1127
00:51:20,000 --> 00:51:24,799
Speaker 3: forced out, and not just in d C, but I

1128
00:51:24,800 --> 00:51:27,640
Speaker 3: felt like I'm the smartest person in healthcare, and I

1129
00:51:27,640 --> 00:51:28,560
Speaker 3: wrote a book to prove it.

1130
00:51:29,040 --> 00:51:29,600
Speaker 2: I really am.

1131
00:51:30,520 --> 00:51:32,520
Speaker 3: No one knows better than I do, because no one's

1132
00:51:32,520 --> 00:51:34,719
Speaker 3: been found a CEO like I have. So it's one

1133
00:51:34,719 --> 00:51:36,120
Speaker 3: thing you know something because you work for somebody, another

1134
00:51:36,120 --> 00:51:38,360
Speaker 3: thing like what y'all doing? You know that you know

1135
00:51:38,400 --> 00:51:38,759
Speaker 3: what I'm saying.

1136
00:51:38,760 --> 00:51:39,160
Speaker 2: It's different.

1137
00:51:39,880 --> 00:51:45,319
Speaker 4: So I knew it. I'm smart. I grew up in it.

1138
00:51:45,360 --> 00:51:48,600
Speaker 3: So fifth second generation, I mean. And when my mother

1139
00:51:48,760 --> 00:51:52,200
Speaker 3: and my stepfather started in the business, they were guinea

1140
00:51:52,239 --> 00:51:55,120
Speaker 3: pigging this concept to medicate managed care. And of course

1141
00:51:55,160 --> 00:51:57,000
Speaker 3: they started in the black communities because that's where the

1142
00:51:57,040 --> 00:51:59,239
Speaker 3: guinea pig. But because of that, my parents had the

1143
00:51:59,239 --> 00:52:01,120
Speaker 3: first experience with it, so like knowing knows the game

1144
00:52:01,160 --> 00:52:03,360
Speaker 3: better than I do. So I felt like I was

1145
00:52:03,400 --> 00:52:06,000
Speaker 3: being put on the sideline of the industry, right, and

1146
00:52:06,000 --> 00:52:09,320
Speaker 3: that was mad about it. And so even though I

1147
00:52:09,400 --> 00:52:11,160
Speaker 3: knew I was about to make this money, I was pissed.

1148
00:52:11,760 --> 00:52:13,840
Speaker 3: And so I started another company and my plan was

1149
00:52:13,880 --> 00:52:15,640
Speaker 3: and launched his next company a week later and then

1150
00:52:15,760 --> 00:52:16,919
Speaker 3: you know, shocked the world with that.

1151
00:52:17,600 --> 00:52:20,879
Speaker 4: Unfortunately that didn't happen. I launched it.

1152
00:52:21,719 --> 00:52:24,800
Speaker 3: You know, I launched jet Dot February first of twenty

1153
00:52:24,880 --> 00:52:27,719
Speaker 3: twenty with this concept of telehealth, cause I knew that's

1154
00:52:27,719 --> 00:52:30,480
Speaker 3: where the game was going pre pandemic, because I looked

1155
00:52:30,480 --> 00:52:33,160
Speaker 3: through all my again, I've looked to all my claims. Oh,

1156
00:52:33,200 --> 00:52:35,320
Speaker 3: I got a lot of claims with your little claims

1157
00:52:35,520 --> 00:52:38,480
Speaker 3: which can be done over telephone versus somebody having to

1158
00:52:38,480 --> 00:52:40,560
Speaker 3: park the car going to the office see a doctor

1159
00:52:40,600 --> 00:52:43,200
Speaker 3: for zyptromag a Z pack they's doing on the phone

1160
00:52:43,200 --> 00:52:44,560
Speaker 3: boom ba boom and the doctor is not a big

1161
00:52:44,640 --> 00:52:48,120
Speaker 3: risk because it's a Z pack, it's easy, right, So

1162
00:52:48,120 --> 00:52:49,560
Speaker 3: I knew that's where when I looked at my claims,

1163
00:52:49,560 --> 00:52:51,840
Speaker 3: I paid off many claims. You know, boom, this is

1164
00:52:51,840 --> 00:52:55,239
Speaker 3: where healthcare is going. I launched February first on my

1165
00:52:55,239 --> 00:52:59,240
Speaker 3: own technology building myself. But then pandemic hits like March fifteenth.

1166
00:52:59,880 --> 00:53:02,360
Speaker 3: I go from being early till late because now my

1167
00:53:02,400 --> 00:53:04,120
Speaker 3: tech I'm I just I'm a month in the building.

1168
00:53:04,160 --> 00:53:04,520
Speaker 2: My tech.

1169
00:53:04,760 --> 00:53:10,480
Speaker 3: My tech when ready until until September. Yeah, and I

1170
00:53:10,560 --> 00:53:12,919
Speaker 3: was late. And then I thought, okay, well I'm still good.

1171
00:53:12,960 --> 00:53:14,880
Speaker 3: So I'm self financing because I want partners, because I

1172
00:53:14,920 --> 00:53:17,080
Speaker 3: had Peet partners last time, private equity.

1173
00:53:17,480 --> 00:53:19,520
Speaker 2: Self finance that don't let that go over.

1174
00:53:19,600 --> 00:53:22,080
Speaker 4: Yeah yeah, but sometimes a good idea sometimes not the

1175
00:53:22,080 --> 00:53:22,520
Speaker 4: great idea.

1176
00:53:22,560 --> 00:53:23,080
Speaker 2: It depends.

1177
00:53:23,560 --> 00:53:25,480
Speaker 3: But I wanted full control of this. I thought it

1178
00:53:25,520 --> 00:53:27,680
Speaker 3: was going to be like a Grand Slam. A self

1179
00:53:27,680 --> 00:53:30,560
Speaker 3: financed it, and then I go out here to the

1180
00:53:30,560 --> 00:53:32,799
Speaker 3: market like IM about to kill them. It was right

1181
00:53:32,840 --> 00:53:35,160
Speaker 3: before Labor Day last year. I'm about to kill them.

1182
00:53:35,160 --> 00:53:37,560
Speaker 3: I'm about to give away you know, free doctor visits.

1183
00:53:37,600 --> 00:53:39,359
Speaker 3: But because I had Stripe on the app, I had

1184
00:53:39,400 --> 00:53:41,240
Speaker 3: to charge lease of dollars I''MNA dollar.

1185
00:53:41,640 --> 00:53:42,880
Speaker 4: Dollar doctor visits.

1186
00:53:43,560 --> 00:53:46,680
Speaker 3: And the next morning I wake up, I don't had

1187
00:53:46,680 --> 00:53:48,960
Speaker 3: a mini You know what I'm saying people on my app,

1188
00:53:49,320 --> 00:53:50,880
Speaker 3: why now spend the money on advertising?

1189
00:53:50,960 --> 00:53:52,640
Speaker 4: And I look at all the comments they think.

1190
00:53:52,440 --> 00:53:56,480
Speaker 3: They're, you know, not real doctors, the Dr Pepper, you know,

1191
00:53:57,080 --> 00:53:59,560
Speaker 3: voodoo doctors, doctor Dre whatever.

1192
00:54:00,600 --> 00:54:02,480
Speaker 4: You know, doctor Day, doctor Dre.

1193
00:54:03,360 --> 00:54:05,719
Speaker 3: It wasn't real, and so people didn't assess value to

1194
00:54:05,719 --> 00:54:08,320
Speaker 3: what I was trying to sell, and really is amazing

1195
00:54:08,440 --> 00:54:11,960
Speaker 3: value problems isn't actually included discount of pharmacy where anyone

1196
00:54:12,040 --> 00:54:13,320
Speaker 3: can go to any farms in the country get a

1197
00:54:13,360 --> 00:54:16,359
Speaker 3: fibesarting to cost some medication unheard of. But because I

1198
00:54:16,440 --> 00:54:19,040
Speaker 3: wasn't getting attraction I expected to get, I decided to

1199
00:54:19,080 --> 00:54:21,719
Speaker 3: do celebrity route like everybody else can go. Influencer I

1200
00:54:21,760 --> 00:54:23,839
Speaker 3: got with Rick Ross and then we launched this big

1201
00:54:23,880 --> 00:54:27,320
Speaker 3: thing earlier this year, and again I actually kind of

1202
00:54:27,360 --> 00:54:30,280
Speaker 3: got it working. You know, my number is one hundred

1203
00:54:30,320 --> 00:54:33,880
Speaker 3: people per day. If I got one hundred people to

1204
00:54:33,920 --> 00:54:36,279
Speaker 3: day sign up for jet doc, it was booming a

1205
00:54:36,320 --> 00:54:39,480
Speaker 3: subscription model. The problem is I got like fifty people

1206
00:54:39,520 --> 00:54:42,560
Speaker 3: to day. Actually that wasn't a problem. Fifty people day

1207
00:54:42,560 --> 00:54:44,000
Speaker 3: would have been okay. The problem is that I spent

1208
00:54:44,000 --> 00:54:47,200
Speaker 3: four hundred thousand dollars that month in advertising. I ain't

1209
00:54:47,200 --> 00:54:49,879
Speaker 3: spent four thousand dollars a month for the fifty people

1210
00:54:49,880 --> 00:54:51,600
Speaker 3: a day. I just can't you know what I'm saying.

1211
00:54:51,680 --> 00:54:52,640
Speaker 3: They can't justify it.

1212
00:54:53,200 --> 00:54:54,560
Speaker 4: Nah, I ain't doing that.

1213
00:54:55,480 --> 00:55:00,440
Speaker 3: So but that was my problem. I'm gonna have to

1214
00:55:00,480 --> 00:55:02,600
Speaker 3: make another pivot. Business people do if you're gonna be

1215
00:55:02,600 --> 00:55:05,479
Speaker 3: in business. So I pivoted. My pivot was I'm gonna

1216
00:55:05,480 --> 00:55:08,400
Speaker 3: go back. Remember the guy I told you who I

1217
00:55:08,560 --> 00:55:11,160
Speaker 3: made chairman of my board, who's at the highest level

1218
00:55:11,160 --> 00:55:12,879
Speaker 3: of health care in this country, most probably top ten

1219
00:55:12,880 --> 00:55:15,319
Speaker 3: most profit for people health care in this country by far.

1220
00:55:16,600 --> 00:55:19,560
Speaker 3: You used to run a CMS. He's a friend of mine.

1221
00:55:19,640 --> 00:55:21,719
Speaker 3: I hit him about what I'm doing. They gave me

1222
00:55:22,280 --> 00:55:25,800
Speaker 3: a recurring license contract, which is valuable when you're in

1223
00:55:25,800 --> 00:55:29,520
Speaker 3: a tech business. So back to valuation, service business and healthcare.

1224
00:55:30,040 --> 00:55:33,720
Speaker 3: Eight to ten x EBITA, which is pre tax profit.

1225
00:55:34,040 --> 00:55:35,160
Speaker 2: You know what the EBITI stands for.

1226
00:55:35,320 --> 00:55:40,520
Speaker 3: Yeah, Earnings before interest, taxes, depreciation and amortization ebit die.

1227
00:55:42,200 --> 00:55:44,879
Speaker 3: So pre tax profit eight to ten x is roughly

1228
00:55:44,880 --> 00:55:46,440
Speaker 3: way you're gonna end up services.

1229
00:55:46,440 --> 00:55:47,600
Speaker 4: But if you're in tech.

1230
00:55:47,840 --> 00:55:51,920
Speaker 1: It's like twenty two or something like that. Bank.

1231
00:55:52,840 --> 00:55:54,359
Speaker 3: And that's why I want to get a tech That's

1232
00:55:54,360 --> 00:55:57,239
Speaker 3: why I did detect. So they're gonna give me a

1233
00:55:57,239 --> 00:55:59,359
Speaker 3: million dollars a year in recurrent revenue, so call times ten,

1234
00:55:59,400 --> 00:56:01,680
Speaker 3: that's twenty two mini an I'm worth twenty two million

1235
00:56:01,719 --> 00:56:01,960
Speaker 3: off the top.

1236
00:56:01,960 --> 00:56:03,719
Speaker 4: I actually got to waited seventeen million.

1237
00:56:03,920 --> 00:56:07,160
Speaker 2: And that is I'm glad you said that. So that

1238
00:56:07,320 --> 00:56:10,160
Speaker 2: is how you value a company. It's like the money

1239
00:56:10,200 --> 00:56:11,799
Speaker 2: that you're making. I'm trying to break this down as

1240
00:56:11,840 --> 00:56:14,080
Speaker 2: easy for people to understand as possible. The money that

1241
00:56:14,160 --> 00:56:16,239
Speaker 2: you make after all the expenses and all of that

1242
00:56:16,320 --> 00:56:18,480
Speaker 2: is done every single year, and then you have multiple

1243
00:56:18,560 --> 00:56:21,120
Speaker 2: So depending on what industry you're in, that will determine

1244
00:56:21,160 --> 00:56:24,000
Speaker 2: your multiple. So you were saying healthcare's multiples of eight,

1245
00:56:24,400 --> 00:56:28,279
Speaker 2: but in tech is like in twenty plus twenty plus.

1246
00:56:28,320 --> 00:56:30,759
Speaker 3: And here's another thing about tech. Tech would give you

1247
00:56:31,200 --> 00:56:35,000
Speaker 3: a multiplier of top line revenue. I'm talking about ebit

1248
00:56:35,040 --> 00:56:39,000
Speaker 3: does after expenses and taxes. I mean it's after expenses,

1249
00:56:39,080 --> 00:56:40,240
Speaker 3: net is net.

1250
00:56:41,360 --> 00:56:43,640
Speaker 2: Tech is gross gross.

1251
00:56:44,120 --> 00:56:45,720
Speaker 3: So you're doing a million dollars a year, you getting

1252
00:56:45,719 --> 00:56:48,960
Speaker 3: ten fifteen, that's fifteen million, your a couple of contracts.

1253
00:56:48,960 --> 00:56:51,160
Speaker 4: Now you're forty million. I mean, and you're just doing tech.

1254
00:56:51,840 --> 00:56:54,920
Speaker 2: So why is that? Because tech is just so explosive

1255
00:56:54,960 --> 00:56:58,640
Speaker 2: and it's just the because it's so scalable because if wor.

1256
00:56:58,600 --> 00:57:00,360
Speaker 4: It's here, you'll work anywhere. It is not.

1257
00:57:00,960 --> 00:57:04,120
Speaker 3: Once you've built a tech and it has an application,

1258
00:57:04,719 --> 00:57:07,719
Speaker 3: what it costs of scale it is minimum. But services

1259
00:57:07,760 --> 00:57:09,920
Speaker 3: you get in, more people, you have more infrastructure, more

1260
00:57:10,000 --> 00:57:12,840
Speaker 3: blah blah blah. So tech is a sexy place to be.

1261
00:57:14,680 --> 00:57:17,320
Speaker 3: So the dude connects me with the company and then

1262
00:57:17,640 --> 00:57:20,200
Speaker 3: they end up investing giving me an anchor contract. And

1263
00:57:20,600 --> 00:57:22,800
Speaker 3: so now we're actually at the closed stage of winning

1264
00:57:22,920 --> 00:57:25,440
Speaker 3: appears to be winning a state wide contract to provide

1265
00:57:25,480 --> 00:57:28,600
Speaker 3: telehealth services. And we have another company that we're looking

1266
00:57:28,640 --> 00:57:29,280
Speaker 3: to do business with.

1267
00:57:29,520 --> 00:57:32,280
Speaker 2: A few more and so telling doot, So what's the

1268
00:57:32,560 --> 00:57:34,760
Speaker 2: revenue census? You say you started with like a doubt?

1269
00:57:34,760 --> 00:57:36,880
Speaker 2: How much is it now? I mean, well we still

1270
00:57:36,920 --> 00:57:40,880
Speaker 2: got to say jet dotah, yeah that's a competition. Well yeah, yeah,

1271
00:57:41,000 --> 00:57:44,400
Speaker 2: I was acting about that. So Jet dot you started

1272
00:57:44,400 --> 00:57:46,560
Speaker 2: with a dollar? How much is it now?

1273
00:57:46,960 --> 00:57:52,439
Speaker 3: So it doesn't matter really because now it's twenty dollars

1274
00:57:52,520 --> 00:57:54,680
Speaker 3: a month, but we're ten dollars a month unlimited. But

1275
00:57:54,680 --> 00:57:57,800
Speaker 3: it doesn't matter. Well, it does matter, but it's not

1276
00:57:57,840 --> 00:58:01,360
Speaker 3: my priority. That's direct to consumer. So people in Georgia

1277
00:58:01,400 --> 00:58:03,600
Speaker 3: and Florida can still call it jet dock, see a doctor,

1278
00:58:03,640 --> 00:58:06,320
Speaker 3: get it, this got medication, boom. It's all easy, pay

1279
00:58:06,360 --> 00:58:10,320
Speaker 3: a twenty bucks a visit. But what I've transitioned into

1280
00:58:10,440 --> 00:58:13,880
Speaker 3: is business to business. So that's when I was sharing

1281
00:58:13,880 --> 00:58:17,200
Speaker 3: with Troy earlier. There's an opportunity where you know, I'm

1282
00:58:17,240 --> 00:58:20,120
Speaker 3: gonna address homelessness. It's a major problem, which means the

1283
00:58:20,160 --> 00:58:24,400
Speaker 3: major opportunity. What we found again through my math when

1284
00:58:24,440 --> 00:58:26,640
Speaker 3: I did in DC is an average person spends five x

1285
00:58:26,720 --> 00:58:30,360
Speaker 3: more expensive if they're also homeless. The average expense per

1286
00:58:30,440 --> 00:58:33,040
Speaker 3: year is about twenty grand a year. So somebody's homeless

1287
00:58:33,080 --> 00:58:35,160
Speaker 3: on average, that cost US twenty thousand dollars a year.

1288
00:58:35,160 --> 00:58:39,120
Speaker 3: That's entire Medicaid manage care industry. Well had some folks

1289
00:58:39,120 --> 00:58:40,520
Speaker 3: at the homeless it cost twenty grand a year. Remember

1290
00:58:40,520 --> 00:58:42,439
Speaker 3: you only get pay five thousand years. Each person's losing

1291
00:58:42,440 --> 00:58:44,840
Speaker 3: fifteen grand. But then you have other people who don't

1292
00:58:44,840 --> 00:58:46,880
Speaker 3: see the doctor at always seeing pay five grand a year,

1293
00:58:46,920 --> 00:58:49,600
Speaker 3: so you know you get you get paying out zero,

1294
00:58:49,680 --> 00:58:51,919
Speaker 3: but you getting five thousand. So kind of to a degree,

1295
00:58:51,960 --> 00:58:54,000
Speaker 3: not always average his way out, but you know it

1296
00:58:54,000 --> 00:58:55,640
Speaker 3: gets close to it. And that's where the two percent

1297
00:58:55,680 --> 00:58:57,439
Speaker 3: problem AARTE comes from, and you shake all that out.

1298
00:58:58,360 --> 00:59:01,280
Speaker 3: But homeless is the big problem. It's the biggest impactor

1299
00:59:01,320 --> 00:59:04,680
Speaker 3: on the healthcare industry. No one really talks about. So,

1300
00:59:04,880 --> 00:59:06,760
Speaker 3: and we've had homeless people that were using the emergence

1301
00:59:06,840 --> 00:59:10,640
Speaker 3: room fifteen twenty thirty times a month, right, knowing what

1302
00:59:10,680 --> 00:59:13,360
Speaker 3: to say to be admitted impatient, I mean the impatient

1303
00:59:13,400 --> 00:59:15,160
Speaker 3: means they spend out the hospital east one night. So

1304
00:59:15,280 --> 00:59:17,120
Speaker 3: somebody wants to get a meal, they wanted to stay

1305
00:59:17,120 --> 00:59:19,440
Speaker 3: in the hospital, or for whatever reason, they want to

1306
00:59:19,440 --> 00:59:21,840
Speaker 3: get some more medications, maybe because they need them, maybe

1307
00:59:21,840 --> 00:59:22,720
Speaker 3: because they want to sell them.

1308
00:59:22,720 --> 00:59:25,040
Speaker 4: Who knows, they know what to say to get it.

1309
00:59:25,080 --> 00:59:27,240
Speaker 4: And then the insurance comes to paying the bill.

1310
00:59:27,120 --> 00:59:31,000
Speaker 3: Or it's just cold down, its cold ever whatever, right,

1311
00:59:31,080 --> 00:59:33,520
Speaker 3: but it costs money. Somebody goes in patient, maybe it

1312
00:59:33,560 --> 00:59:34,960
Speaker 3: costs us fifteen thousand.

1313
00:59:34,680 --> 00:59:36,640
Speaker 2: Dollars, and you can't turn somebody down.

1314
00:59:37,240 --> 00:59:39,000
Speaker 4: No, so it costs fifteen thousand.

1315
00:59:39,120 --> 00:59:42,720
Speaker 3: Right, Well, if they stay on average, which is five nights,

1316
00:59:42,800 --> 00:59:44,120
Speaker 3: I'm paying three thousand dollars a night back.

1317
00:59:44,120 --> 00:59:45,280
Speaker 4: They could be staying with me at the pass the

1318
00:59:45,280 --> 00:59:48,240
Speaker 4: hotel and penhouse sweep. That's what I'm paying.

1319
00:59:49,120 --> 00:59:52,960
Speaker 3: So the opportunity is getting folks that are homeless into housing.

1320
00:59:54,680 --> 00:59:57,040
Speaker 3: And there's a big opportunity. I was giving you a

1321
00:59:57,120 --> 00:59:59,760
Speaker 3: quick man Troy in Oakland, California. We're talking to a

1322
00:59:59,800 --> 01:00:02,320
Speaker 3: big company. Let's say they have ten thousand members, twenty

1323
01:00:02,320 --> 01:00:03,880
Speaker 3: thousand dollars a year. They mean to spend two hundred

1324
01:00:03,880 --> 01:00:05,720
Speaker 3: million dollars a year on homeless members. On healthcare for

1325
01:00:05,760 --> 01:00:06,960
Speaker 3: the homeless, two undrellion.

1326
01:00:06,640 --> 01:00:09,480
Speaker 4: Dollars a year. I proved it in d C.

1327
01:00:09,600 --> 01:00:11,760
Speaker 3: I cut my homeless members in half by fifty and half,

1328
01:00:11,840 --> 01:00:14,920
Speaker 3: which is fifty percent, and the costs came down accordingly.

1329
01:00:15,040 --> 01:00:16,920
Speaker 3: So if I took a two hundred million dollar baseline

1330
01:00:17,040 --> 01:00:18,400
Speaker 3: and I cut it in half, that means one hundred

1331
01:00:18,400 --> 01:00:19,760
Speaker 3: bill dollars in savings. If I got half of that,

1332
01:00:19,760 --> 01:00:21,720
Speaker 3: I may fifty million dollars and they made fifty. They

1333
01:00:21,800 --> 01:00:24,720
Speaker 3: say fifty for giving me the contract. It's a lot

1334
01:00:24,720 --> 01:00:25,120
Speaker 3: of money.

1335
01:00:25,200 --> 01:00:28,600
Speaker 2: So that's that's the revenue models, not really the consumer.

1336
01:00:28,640 --> 01:00:32,320
Speaker 2: It's more business in government government contracts too.

1337
01:00:32,440 --> 01:00:36,200
Speaker 3: That's government or business business. So another company like the

1338
01:00:36,200 --> 01:00:38,000
Speaker 3: one that I had, I can go contract with them

1339
01:00:38,040 --> 01:00:39,200
Speaker 3: and say, I know how to save money I was doing.

1340
01:00:39,240 --> 01:00:41,520
Speaker 3: I was doing ten percent, twelve percent profit margins. You're

1341
01:00:41,560 --> 01:00:43,000
Speaker 3: doing you're trying to do two?

1342
01:00:43,720 --> 01:00:44,320
Speaker 2: Are you help you?

1343
01:00:44,520 --> 01:00:47,720
Speaker 1: So that that that is a formula for Oakland. We

1344
01:00:47,800 --> 01:00:50,400
Speaker 1: know homelessness is a huge problem in la as well. Yeah,

1345
01:00:51,240 --> 01:00:53,600
Speaker 1: can that also be replicated here? One hundred percent. The

1346
01:00:53,640 --> 01:00:55,200
Speaker 1: thing is I'm friends with the CEO of a big

1347
01:00:55,200 --> 01:00:55,760
Speaker 1: help planing.

1348
01:00:55,600 --> 01:00:58,480
Speaker 4: In Oakland and Oakland relationships rightships.

1349
01:00:57,960 --> 01:01:04,880
Speaker 3: One hundred But once you anything anywhere successful then.

1350
01:01:04,160 --> 01:01:10,200
Speaker 2: So the whole idea of virtual doctor visits. Teledoct is

1351
01:01:10,240 --> 01:01:14,840
Speaker 2: a well known company who's a publicly traded company, but

1352
01:01:14,880 --> 01:01:18,720
Speaker 2: people are still a little leary about this. So you

1353
01:01:18,720 --> 01:01:23,000
Speaker 2: have a virtual doctors visit? What Because I've never done

1354
01:01:23,000 --> 01:01:25,280
Speaker 2: this before, can you kind of explain to me what

1355
01:01:25,440 --> 01:01:27,760
Speaker 2: is a virtual doctor visit? Because I'm assuming that it's

1356
01:01:27,760 --> 01:01:30,840
Speaker 2: some limitations involved, like you can only see somebody, you

1357
01:01:30,880 --> 01:01:34,640
Speaker 2: can't hit that hell bow and check that cough and

1358
01:01:34,680 --> 01:01:37,800
Speaker 2: all that. So like how how does that work? And

1359
01:01:38,240 --> 01:01:40,760
Speaker 2: do you think that this is something that will be

1360
01:01:41,040 --> 01:01:42,840
Speaker 2: the normal moving forward?

1361
01:01:43,720 --> 01:01:48,000
Speaker 3: I do in the current in the current state of

1362
01:01:48,440 --> 01:01:54,320
Speaker 3: technology and is limitations. Most all health visits are you know,

1363
01:01:54,360 --> 01:01:56,360
Speaker 3: you have flu symptoms, or maybe you think you may

1364
01:01:56,360 --> 01:01:58,480
Speaker 3: have COVID symptoms, or you have a headache, you need

1365
01:01:58,520 --> 01:02:01,600
Speaker 3: some strong advil or something that you don't need to

1366
01:02:01,640 --> 01:02:04,480
Speaker 3: see a doctor. You know it, and the doctor knows it.

1367
01:02:04,480 --> 01:02:07,160
Speaker 3: You don't need to see them, uh in person. And

1368
01:02:07,200 --> 01:02:11,000
Speaker 3: so you download the app and you basically are like

1369
01:02:11,040 --> 01:02:13,800
Speaker 3: a zoom called the FaceTime with the doctor and you

1370
01:02:13,880 --> 01:02:15,600
Speaker 3: talk to them about your symptoms and they're going to

1371
01:02:15,640 --> 01:02:19,640
Speaker 3: prescribe your medication. And then in jet Doc then the

1372
01:02:19,680 --> 01:02:22,640
Speaker 3: doctor will automatically send the script wherever pharmacy feel is

1373
01:02:22,680 --> 01:02:25,080
Speaker 3: most convenient for you. You go pick it up. You get

1374
01:02:25,120 --> 01:02:27,800
Speaker 3: eight five cent off constant medication. The discount card is

1375
01:02:27,840 --> 01:02:31,680
Speaker 3: embedded in the app. Where healthcare is going is more

1376
01:02:31,720 --> 01:02:34,240
Speaker 3: sophisticated technology, which we're on the forefront of that with

1377
01:02:34,320 --> 01:02:35,400
Speaker 3: this contract we have.

1378
01:02:35,480 --> 01:02:36,560
Speaker 4: I was just sharing with you.

1379
01:02:36,920 --> 01:02:40,720
Speaker 3: Where we're including with our app, integrated remote patient monitoring,

1380
01:02:41,600 --> 01:02:45,280
Speaker 3: So folks that diabetic negocometers to measure the sugar, the

1381
01:02:45,280 --> 01:02:49,280
Speaker 3: blood in their shirt, the sugar in their blood, and

1382
01:02:49,360 --> 01:02:52,920
Speaker 3: so we're integrating like a post eximbity to see what

1383
01:02:52,960 --> 01:02:56,960
Speaker 3: their you know, uh, their heartbeat is. But we're we're

1384
01:02:57,280 --> 01:02:59,960
Speaker 3: integrating these into our app so it's fully integrated. So

1385
01:03:00,160 --> 01:03:10,640
Speaker 3: now you can have you know, devices that have advanced.

1386
01:03:09,280 --> 01:03:11,240
Speaker 4: What's the word photography capabilities.

1387
01:03:11,240 --> 01:03:13,720
Speaker 3: They can actually see more clear than your iPhone what's

1388
01:03:13,760 --> 01:03:15,840
Speaker 3: going on, So you can actually use devices or smart

1389
01:03:15,840 --> 01:03:20,320
Speaker 3: scales to get more information. So you're actually replicating an

1390
01:03:20,360 --> 01:03:21,920
Speaker 3: in person visit without being in person.

1391
01:03:22,440 --> 01:03:23,760
Speaker 4: So that technology doing the way and we're in the

1392
01:03:23,840 --> 01:03:24,400
Speaker 4: forefront of it.

1393
01:03:24,440 --> 01:03:29,320
Speaker 3: We're building this integrated application with jet dot to have

1394
01:03:29,360 --> 01:03:31,920
Speaker 3: twenty remote patient monitoring devices fully integrated.

1395
01:03:31,640 --> 01:03:32,240
Speaker 2: To the system.

1396
01:03:32,920 --> 01:03:37,520
Speaker 1: So pre COVID, in the teleal space, there was an

1397
01:03:37,520 --> 01:03:41,640
Speaker 1: average about projected average about eight hundred thousand visits eight

1398
01:03:41,720 --> 01:03:45,080
Speaker 1: hundred thousand visits a month. Obviously, post COVID that number

1399
01:03:45,120 --> 01:03:48,120
Speaker 1: has run to a billions. So that means it's a

1400
01:03:48,120 --> 01:03:51,520
Speaker 1: lot of people in the space. So what's jet Dot's

1401
01:03:51,600 --> 01:03:54,480
Speaker 1: plan to separate it? Because I know Shoddy mentioned a

1402
01:03:54,520 --> 01:03:57,280
Speaker 1: company as a competition, how do you separate yourselves from

1403
01:03:57,280 --> 01:03:58,640
Speaker 1: the rest of the competition.

1404
01:03:59,360 --> 01:04:02,320
Speaker 3: Really is I got to figure out what I want

1405
01:04:02,320 --> 01:04:08,040
Speaker 3: to do, so you know, there's so much room. First

1406
01:04:08,080 --> 01:04:09,360
Speaker 3: of all, I answer the question, it's a lot of room.

1407
01:04:09,760 --> 01:04:13,880
Speaker 3: There's room galore, and there's room galore director consumer. There's

1408
01:04:13,880 --> 01:04:16,200
Speaker 3: so many different pockets of opportunities. So whether you focus

1409
01:04:16,200 --> 01:04:17,640
Speaker 3: on mental health, do you focus on this niche?

1410
01:04:17,680 --> 01:04:18,120
Speaker 4: Over here?

1411
01:04:18,440 --> 01:04:23,640
Speaker 3: There's a telecompany that's been very successful doing transgender care

1412
01:04:24,000 --> 01:04:27,760
Speaker 3: actually transgender or transgender.

1413
01:04:29,320 --> 01:04:30,160
Speaker 2: Friendly, O, what have you.

1414
01:04:30,520 --> 01:04:32,520
Speaker 3: And all the members are transgend because they have their

1415
01:04:32,560 --> 01:04:35,720
Speaker 3: own health care issues, right, and so it's very focused.

1416
01:04:35,720 --> 01:04:38,120
Speaker 3: So what's happening now is the telecompanies are trying to

1417
01:04:38,120 --> 01:04:39,200
Speaker 3: figure out what the niche is.

1418
01:04:39,320 --> 01:04:39,600
Speaker 2: Right.

1419
01:04:39,880 --> 01:04:42,120
Speaker 3: STDs is a big niche, so figure out with the

1420
01:04:42,200 --> 01:04:45,320
Speaker 3: niche is an opportunity for nicheng director consumer. But also

1421
01:04:45,400 --> 01:04:47,680
Speaker 3: when you do direct to business, I mean how a

1422
01:04:47,680 --> 01:04:49,040
Speaker 3: business are. There is a trade of them, so there's

1423
01:04:49,040 --> 01:04:50,920
Speaker 3: always things you can try to do something new and different,

1424
01:04:51,400 --> 01:04:53,960
Speaker 3: which means the opportunity to grow B to B is pretty.

1425
01:04:53,640 --> 01:04:54,360
Speaker 2: Massive as well.

1426
01:04:54,680 --> 01:04:55,720
Speaker 3: But when I was saying I got to figure out

1427
01:04:55,720 --> 01:04:57,600
Speaker 3: what I want to do, is you know how far

1428
01:04:57,640 --> 01:04:59,760
Speaker 3: I want to take it? You know, if you ask

1429
01:04:59,800 --> 01:05:01,920
Speaker 3: me a year ago to yours. Got to tell them

1430
01:05:01,920 --> 01:05:03,880
Speaker 3: to take it all the way, you know, punk be

1431
01:05:03,920 --> 01:05:06,760
Speaker 3: traded on the control it make it a legacy business.

1432
01:05:07,240 --> 01:05:08,280
Speaker 4: Am I there right now?

1433
01:05:08,680 --> 01:05:09,360
Speaker 2: You know, I don't know.

1434
01:05:09,400 --> 01:05:11,160
Speaker 3: I'm still thinking about that. So do I just want

1435
01:05:11,160 --> 01:05:13,480
Speaker 3: to create it, create value and sell it and have

1436
01:05:13,560 --> 01:05:15,760
Speaker 3: another hit and maybe getting the TV.

1437
01:05:21,800 --> 01:05:25,400
Speaker 4: But stay tuned. But that's the decision. You know how

1438
01:05:25,400 --> 01:05:27,880
Speaker 4: to make it. You know where the passion lies and

1439
01:05:28,800 --> 01:05:29,880
Speaker 4: is it still burning?

1440
01:05:30,160 --> 01:05:32,960
Speaker 2: Let me ask you this before we wrap some general questions.

1441
01:05:33,000 --> 01:05:37,520
Speaker 2: You say, you wrote the book Medicare Medicaid. We always

1442
01:05:37,520 --> 01:05:39,960
Speaker 2: had these issues that you know, it's so flawed, and

1443
01:05:40,000 --> 01:05:41,880
Speaker 2: you said, can you give us one of the solutions

1444
01:05:41,880 --> 01:05:45,040
Speaker 2: that you have in the book or something that why

1445
01:05:45,160 --> 01:05:47,240
Speaker 2: is it so flawed? And what are some like at

1446
01:05:47,320 --> 01:05:49,800
Speaker 2: least one thing you think can be done to fix it.

1447
01:05:49,880 --> 01:05:50,560
Speaker 2: You understand it.

1448
01:05:50,560 --> 01:05:56,360
Speaker 3: It's get rid of mandatory medical loss ratio requirements. So

1449
01:05:56,400 --> 01:05:59,480
Speaker 3: I shared with you earlier, out of one hundred dollars

1450
01:05:59,480 --> 01:06:01,400
Speaker 3: we receive in revenue, we're required by a lot of

1451
01:06:01,400 --> 01:06:04,120
Speaker 3: to spend eighty five dollars out of one hundred, eighty

1452
01:06:04,120 --> 01:06:09,160
Speaker 3: five percent on the direct cost of care hospital doctor pharmacy, dental, transportation,

1453
01:06:09,200 --> 01:06:15,040
Speaker 3: et cetera. Well, if you spend eighty five percent of

1454
01:06:15,640 --> 01:06:19,280
Speaker 3: your dollar every year medical cost inflation is two percent.

1455
01:06:20,320 --> 01:06:23,280
Speaker 3: It's been two percent forever, which means next year you're

1456
01:06:23,280 --> 01:06:25,960
Speaker 3: going to be spending your total costs. So the governments

1457
01:06:26,000 --> 01:06:28,400
Speaker 3: won paying the total costs. The taxpayers are paying, so

1458
01:06:28,760 --> 01:06:31,760
Speaker 3: eighty five it's like compound interest.

1459
01:06:31,680 --> 01:06:33,920
Speaker 4: Eighty What was eighty five percent? Not eighty five point

1460
01:06:33,960 --> 01:06:34,480
Speaker 4: two percent?

1461
01:06:35,640 --> 01:06:35,880
Speaker 2: Right?

1462
01:06:36,000 --> 01:06:37,960
Speaker 3: And then the next year is eighty five point two

1463
01:06:38,000 --> 01:06:40,520
Speaker 3: plus another two percent, so not eighty five point two,

1464
01:06:40,520 --> 01:06:41,480
Speaker 3: it's two percent of eighty five.

1465
01:06:41,520 --> 01:06:43,120
Speaker 4: It's great net, right, it's like one point seven. So

1466
01:06:43,120 --> 01:06:44,480
Speaker 4: then I goes up to eighty seven percent.

1467
01:06:44,600 --> 01:06:47,840
Speaker 3: Every year, the cost healthcare keeps going up because of inflation,

1468
01:06:48,560 --> 01:06:50,320
Speaker 3: and you're requiring folks to spend that money.

1469
01:06:50,600 --> 01:06:51,920
Speaker 4: You did know what I'm saying. So every year the

1470
01:06:51,960 --> 01:06:53,640
Speaker 4: cost of healthcare goes up. That's why it's crazy.

1471
01:06:54,000 --> 01:06:55,320
Speaker 3: What what you want to do is get rid of

1472
01:06:55,360 --> 01:06:59,000
Speaker 3: mandatory medical lost racial requirements and then incentivized companies to

1473
01:06:59,200 --> 01:07:03,520
Speaker 3: reduce the total cast care for their membership, and by

1474
01:07:03,840 --> 01:07:07,480
Speaker 3: doing that, they would What should be the case is

1475
01:07:07,480 --> 01:07:10,360
Speaker 3: if they reduce their cost to actually get more contracts

1476
01:07:10,360 --> 01:07:12,800
Speaker 3: with governments to do more business. That's usually how it works,

1477
01:07:12,800 --> 01:07:14,680
Speaker 3: like Walmart, Lord of costs, the more business you get.

1478
01:07:15,400 --> 01:07:17,200
Speaker 3: But the way government has said it is they have

1479
01:07:17,320 --> 01:07:20,680
Speaker 3: these mandatory medical loss racial requirements, which means you have

1480
01:07:20,680 --> 01:07:22,840
Speaker 3: to spend eighty five percent of your money and if

1481
01:07:22,840 --> 01:07:24,960
Speaker 3: you spend less than that, it's not legal. Well, the

1482
01:07:24,960 --> 01:07:27,800
Speaker 3: reason they do that, the government has done that is

1483
01:07:27,880 --> 01:07:31,000
Speaker 3: what they have been afraid of, are insurance companies skimping

1484
01:07:31,080 --> 01:07:34,440
Speaker 3: on care for the purposes of retaining its profit. So

1485
01:07:34,520 --> 01:07:36,360
Speaker 3: let's say Troy needs to go, you know, get some

1486
01:07:36,400 --> 01:07:38,800
Speaker 3: imaging done. He has some heart palpitation or something he

1487
01:07:38,800 --> 01:07:41,400
Speaker 3: wants to get checked out. Their worried. That means an

1488
01:07:41,400 --> 01:07:43,560
Speaker 3: insurance company. Let's say I'm Blue Cross, we should and

1489
01:07:43,600 --> 01:07:47,400
Speaker 3: he's my my member. I say no, Troy, you can't

1490
01:07:47,440 --> 01:07:51,520
Speaker 3: go get this imaging this imaging service because it's not

1491
01:07:51,560 --> 01:07:53,760
Speaker 3: a cover benefit, or I just don't want you to

1492
01:07:53,760 --> 01:07:55,160
Speaker 3: do it because you know it's gonna cost me a

1493
01:07:55,160 --> 01:07:55,600
Speaker 3: thousand dollars.

1494
01:07:55,640 --> 01:07:56,080
Speaker 2: You're insured.

1495
01:07:56,720 --> 01:07:59,160
Speaker 3: So to protect against that, to protect the people, they

1496
01:07:59,160 --> 01:08:02,400
Speaker 3: make these mandatory cost racial requirements. But the truth is

1497
01:08:02,440 --> 01:08:04,880
Speaker 3: in healthcare, because of somebody goes to emergency room. By law,

1498
01:08:05,360 --> 01:08:07,320
Speaker 3: the hospital has to see the person, and by law,

1499
01:08:07,360 --> 01:08:10,040
Speaker 3: I got to pay the bill. Then the percent of

1500
01:08:10,080 --> 01:08:12,000
Speaker 3: spending that can really be affected by me trying to

1501
01:08:12,000 --> 01:08:14,800
Speaker 3: skip on services, it's like less than ten percent, So

1502
01:08:15,520 --> 01:08:17,920
Speaker 3: it's really like seven percent. So if I can only

1503
01:08:18,000 --> 01:08:21,080
Speaker 3: affect seven percent, why are you forcing the system to

1504
01:08:21,160 --> 01:08:22,639
Speaker 3: overspend on the other.

1505
01:08:22,560 --> 01:08:25,200
Speaker 4: Ninety three percent? You dig what I'm saying.

1506
01:08:25,800 --> 01:08:28,880
Speaker 3: What should be the case, like anything in capitalism, is

1507
01:08:29,600 --> 01:08:32,600
Speaker 3: if I can get my cost lower, I should be

1508
01:08:32,640 --> 01:08:35,200
Speaker 3: able to get more business. I should be incentivized to

1509
01:08:35,200 --> 01:08:36,920
Speaker 3: get my cost down. And the only way to really

1510
01:08:36,920 --> 01:08:38,799
Speaker 3: get costs down in health care is get people healthier.

1511
01:08:38,960 --> 01:08:41,479
Speaker 3: Is but I explained to you on the homeless issue,

1512
01:08:41,840 --> 01:08:43,840
Speaker 3: I cut my cost in half because I got.

1513
01:08:43,760 --> 01:08:45,240
Speaker 4: Half my people housing.

1514
01:08:47,640 --> 01:08:50,080
Speaker 3: So I was sitting down at sixty five percent medical

1515
01:08:50,080 --> 01:08:51,840
Speaker 3: loss ratio, which the government thought was a bad thing,

1516
01:08:51,920 --> 01:08:54,839
Speaker 3: was while they forced me to get out of the industry,

1517
01:08:55,320 --> 01:08:56,840
Speaker 3: or sixty five percent is a good thing, because guess

1518
01:08:56,840 --> 01:09:00,599
Speaker 3: what happens if I'm in sixty five and the system

1519
01:09:00,640 --> 01:09:06,120
Speaker 3: is set to where I get more business because I'm

1520
01:09:06,120 --> 01:09:08,719
Speaker 3: a lower cost provider than my other competitors. To guess

1521
01:09:08,720 --> 01:09:11,360
Speaker 3: what the big companies that are in health insurance will

1522
01:09:11,400 --> 01:09:15,320
Speaker 3: now actually compete to get their costs lower. So if

1523
01:09:15,360 --> 01:09:17,280
Speaker 3: I had an impact doing things with homelessness and all

1524
01:09:17,320 --> 01:09:20,960
Speaker 3: this other stuff I did reducing you know, man, I

1525
01:09:20,960 --> 01:09:23,759
Speaker 3: had people matter, had thousand people who I stopped from

1526
01:09:23,880 --> 01:09:25,920
Speaker 3: from being hooked to diallasis for the rest of their life.

1527
01:09:25,960 --> 01:09:26,839
Speaker 4: I call it dialysis.

1528
01:09:26,840 --> 01:09:26,960
Speaker 2: Bro.

1529
01:09:27,479 --> 01:09:31,280
Speaker 3: If somebody has a one C which basically measuring the

1530
01:09:31,320 --> 01:09:35,360
Speaker 3: blood the sugar in someone's blood, if they're if it's

1531
01:09:35,360 --> 01:09:38,200
Speaker 3: five and a half or greater, that means they're diabetic.

1532
01:09:38,240 --> 01:09:39,559
Speaker 4: So it's less than five and a half.

1533
01:09:39,360 --> 01:09:40,200
Speaker 2: They're pre diabetic.

1534
01:09:42,479 --> 01:09:46,519
Speaker 3: No, actually less than seven, yeah, less than seven, you know,

1535
01:09:46,680 --> 01:09:49,280
Speaker 3: less than seven. But I have people. But then you

1536
01:09:49,360 --> 01:09:51,799
Speaker 3: let's say that they once see eight, nine, ten, eleven, twelve.

1537
01:09:51,840 --> 01:09:53,559
Speaker 3: That means any day they could be in they could

1538
01:09:53,600 --> 01:09:56,559
Speaker 3: require dallasis. And that's that's a bad thing because now

1539
01:09:56,600 --> 01:09:58,000
Speaker 3: the thallsans every day for the rest of their life

1540
01:09:58,040 --> 01:10:00,800
Speaker 3: until they get a transplant where they die. I had

1541
01:10:00,800 --> 01:10:03,120
Speaker 3: some thousand people, thousands people because I looked at my

1542
01:10:03,200 --> 01:10:05,679
Speaker 3: data who had a one seeds that were over seven,

1543
01:10:05,960 --> 01:10:08,479
Speaker 3: who have a one seeds that were growing over a

1544
01:10:08,479 --> 01:10:10,280
Speaker 3: period of time, right they had, they had seven point

1545
01:10:10,320 --> 01:10:12,679
Speaker 3: five out, they had a nine. Oh, I better focus

1546
01:10:12,680 --> 01:10:14,360
Speaker 3: on these people, get them in the care, get them

1547
01:10:14,400 --> 01:10:16,840
Speaker 3: a gu comra that give me real time notification when

1548
01:10:16,840 --> 01:10:17,360
Speaker 3: it spikes.

1549
01:10:17,400 --> 01:10:19,480
Speaker 4: And then my staff, you want to reach out to them.

1550
01:10:19,640 --> 01:10:20,559
Speaker 4: What do you have for lunch?

1551
01:10:21,280 --> 01:10:21,439
Speaker 2: Oh?

1552
01:10:21,520 --> 01:10:23,479
Speaker 4: You think it's healthy to eat eat food all the time.

1553
01:10:23,560 --> 01:10:24,599
Speaker 2: Guess what? Not so much?

1554
01:10:25,439 --> 01:10:27,400
Speaker 4: You know, what are you doing in changing behaviors?

1555
01:10:27,479 --> 01:10:28,439
Speaker 2: Right? And fruit? Fruit?

1556
01:10:28,479 --> 01:10:28,559
Speaker 1: Right?

1557
01:10:28,680 --> 01:10:28,840
Speaker 2: Yeah?

1558
01:10:28,840 --> 01:10:31,200
Speaker 3: A lot of times foo food it breaks down your body.

1559
01:10:31,240 --> 01:10:34,960
Speaker 3: And sugar, that's right, no question. So people think they're

1560
01:10:34,960 --> 01:10:38,360
Speaker 3: doing something healthy, but it's killing. But listen, listen, people

1561
01:10:38,479 --> 01:10:42,599
Speaker 3: watch this. Thousands of people, thousand people my aunt included,

1562
01:10:43,360 --> 01:10:47,400
Speaker 3: and many people y'all know included. But my aunt was

1563
01:10:47,439 --> 01:10:52,200
Speaker 3: on h room tod authritis since the last thirty four years.

1564
01:10:52,360 --> 01:10:55,680
Speaker 3: Well to treat room to the aarthritis is medications and

1565
01:10:55,760 --> 01:10:59,040
Speaker 3: most of them attack the kidney right, So over time

1566
01:10:59,160 --> 01:11:02,160
Speaker 3: it all interior kitty. Before you know it, they need Dallasis.

1567
01:11:03,000 --> 01:11:06,479
Speaker 3: But not because of lifestyle or eating habits. It's just

1568
01:11:06,479 --> 01:11:09,679
Speaker 3: because they're on a medication to treat something and instead

1569
01:11:09,760 --> 01:11:10,640
Speaker 3: it burns the kidney up.

1570
01:11:10,640 --> 01:11:11,760
Speaker 4: And now she's on Dallasis.

1571
01:11:12,000 --> 01:11:14,559
Speaker 3: We had thousands people that we identified through medications they're

1572
01:11:14,560 --> 01:11:17,000
Speaker 3: on and how long they're on it that A one

1573
01:11:17,000 --> 01:11:19,280
Speaker 3: C is that werising that we move a one C

1574
01:11:19,479 --> 01:11:20,200
Speaker 3: from being.

1575
01:11:20,640 --> 01:11:22,600
Speaker 4: In the hot bed the hot land.

1576
01:11:22,600 --> 01:11:25,400
Speaker 3: Of any day now you could be on dallasis dallasis

1577
01:11:25,479 --> 01:11:30,519
Speaker 3: role to being pre diabetic. Lifestyle behavior changes thousands of

1578
01:11:30,520 --> 01:11:34,320
Speaker 3: people because I care diet next to did diet most

1579
01:11:34,360 --> 01:11:37,800
Speaker 3: of the diet and medication compliance. A lot of people

1580
01:11:37,800 --> 01:11:40,640
Speaker 3: don't take the medication. Why sometimes make some shit or

1581
01:11:40,760 --> 01:11:45,080
Speaker 3: dialysis or not. Dallasis diarrhea, right, sure, a side effects

1582
01:11:46,040 --> 01:11:48,000
Speaker 3: so much health care can be fixed. But here's my

1583
01:11:48,040 --> 01:11:50,000
Speaker 3: real point. My point is we identified all these triggers

1584
01:11:50,000 --> 01:11:52,320
Speaker 3: and we did something about it, and through doing something

1585
01:11:52,360 --> 01:11:55,920
Speaker 3: about it, we gave people longer life, healthier life. Folks

1586
01:11:55,920 --> 01:12:00,760
Speaker 3: we avoided folks on dialysis and all those impacts. But

1587
01:12:00,880 --> 01:12:03,800
Speaker 3: not only that, we save a lot of money in

1588
01:12:03,800 --> 01:12:06,400
Speaker 3: the process, because when somebody is on diallasis guess what

1589
01:12:06,439 --> 01:12:08,759
Speaker 3: it costs every year eighty five thousand when you include

1590
01:12:08,760 --> 01:12:10,240
Speaker 3: the dialysis and going to the emergency room for a

1591
01:12:10,280 --> 01:12:13,000
Speaker 3: couple of times. It's being impatient eighty five thousand dollars years.

1592
01:12:13,040 --> 01:12:15,120
Speaker 3: But I'm only pay five thousand, which means I'm losing

1593
01:12:15,160 --> 01:12:17,000
Speaker 3: eighty thousand dollars per person on dallasis so what did

1594
01:12:17,040 --> 01:12:17,280
Speaker 3: I do.

1595
01:12:17,400 --> 01:12:21,719
Speaker 4: I'm getting on the front the moment. But what happens there,

1596
01:12:22,080 --> 01:12:22,559
Speaker 4: I save.

1597
01:12:22,479 --> 01:12:25,200
Speaker 3: Money and people have better healthier lives.

1598
01:12:25,680 --> 01:12:25,920
Speaker 2: Right.

1599
01:12:26,960 --> 01:12:29,120
Speaker 3: But that's a little old Tommy Dunky because Tommy duncan,

1600
01:12:29,160 --> 01:12:32,960
Speaker 3: which also I care about people, and the profit goes

1601
01:12:33,000 --> 01:12:34,280
Speaker 3: to my own pocketbook.

1602
01:12:36,200 --> 01:12:37,360
Speaker 4: So I'm doing.

1603
01:12:37,160 --> 01:12:38,960
Speaker 3: These things which are making a big difference that big

1604
01:12:38,960 --> 01:12:43,080
Speaker 3: companies aren't doing them. But if they actually incentivize, if

1605
01:12:43,120 --> 01:12:45,120
Speaker 3: you get your cost lower, which you can only do

1606
01:12:45,160 --> 01:12:47,439
Speaker 3: it doing things I just share with you, then the

1607
01:12:47,439 --> 01:12:49,120
Speaker 3: big companies will actually do what I'm doing, and they

1608
01:12:49,160 --> 01:12:50,760
Speaker 3: would do it way better because they have all the

1609
01:12:50,760 --> 01:12:52,120
Speaker 3: resources in the world, but right now they have no

1610
01:12:52,120 --> 01:12:54,439
Speaker 3: incent incentive to do it. Instead, then centive is just

1611
01:12:54,520 --> 01:12:57,280
Speaker 3: keep things status quo, which is why health care outcomes

1612
01:12:57,320 --> 01:12:59,479
Speaker 3: and status quo and the cost of system keeps going

1613
01:12:59,560 --> 01:13:03,479
Speaker 3: up every year, and the governor and the governments don't

1614
01:13:03,479 --> 01:13:03,600
Speaker 3: do it.

1615
01:13:03,760 --> 01:13:06,599
Speaker 2: How do how do we change it? Get political action?

1616
01:13:06,720 --> 01:13:09,040
Speaker 4: Political action, man, You just got to get political action, man.

1617
01:13:09,080 --> 01:13:11,240
Speaker 4: You got to get black governor. That's my that's my

1618
01:13:12,320 --> 01:13:15,680
Speaker 4: that's my headline. Get the black governor. That's what you

1619
01:13:15,680 --> 01:13:16,040
Speaker 4: need to do.

1620
01:13:16,120 --> 01:13:19,560
Speaker 2: When it's the last black governor in America. It was

1621
01:13:20,640 --> 01:13:23,519
Speaker 2: in Virginia, New York own the last guy. But that

1622
01:13:23,640 --> 01:13:26,439
Speaker 2: was that wasn't real long he was the governor. No,

1623
01:13:26,439 --> 01:13:29,200
Speaker 2: no disrespect to Patterson, but he wasn't elected.

1624
01:13:29,520 --> 01:13:33,800
Speaker 1: He wasn't elected, but he served as for he got

1625
01:13:34,000 --> 01:13:34,240
Speaker 1: out of this.

1626
01:13:34,360 --> 01:13:37,640
Speaker 2: But yeah, somebody coming in, got it, you know what

1627
01:13:37,680 --> 01:13:40,280
Speaker 2: they're doing. Virginia that was the last elected black governor.

1628
01:13:40,400 --> 01:13:42,400
Speaker 3: Yeah, this guy named I can't remember his name, but

1629
01:13:42,720 --> 01:13:45,160
Speaker 3: somebody really coming in. You know, it's a plan that

1630
01:13:45,240 --> 01:13:48,160
Speaker 3: what they're doing. They got a squad. You know, they

1631
01:13:48,160 --> 01:13:49,720
Speaker 3: have relationships now, you know.

1632
01:13:50,040 --> 01:13:52,200
Speaker 2: But even but even with the governor, like even if

1633
01:13:52,200 --> 01:13:54,800
Speaker 2: it's a black governor's like, I feel like you know

1634
01:13:54,920 --> 01:13:58,360
Speaker 2: better than me obviously, But this billions of dollars that's

1635
01:13:58,400 --> 01:14:01,880
Speaker 2: made in people being sick, Like you might have been

1636
01:14:01,920 --> 01:14:04,439
Speaker 2: losing money, but there's other companies or other people that's

1637
01:14:04,439 --> 01:14:11,960
Speaker 2: actually making money from people being sick. Treatment hospitals, companies, companies. Yes, Okay,

1638
01:14:12,560 --> 01:14:16,240
Speaker 2: so the lobby it might be, you know, too strong

1639
01:14:16,400 --> 01:14:19,360
Speaker 2: to push it, no matter who's the president or the

1640
01:14:19,400 --> 01:14:24,160
Speaker 2: governor or. I agree with that, but somebody has to

1641
01:14:24,200 --> 01:14:29,120
Speaker 2: have audacity and eliminated medical loss ratio actually can be

1642
01:14:29,320 --> 01:14:32,559
Speaker 2: viewed as a positive thing, even for the biotech companies,

1643
01:14:33,000 --> 01:14:36,200
Speaker 2: because then they would start to design things and market

1644
01:14:36,720 --> 01:14:40,800
Speaker 2: to the provider groups and insurance companies like actually keep

1645
01:14:40,800 --> 01:14:43,360
Speaker 2: people healthier and out the hospital. This medication is better

1646
01:14:43,560 --> 01:14:44,000
Speaker 2: or different.

1647
01:14:44,000 --> 01:14:48,400
Speaker 3: For this reason, the government has taken the stance because

1648
01:14:48,400 --> 01:14:50,160
Speaker 3: of what I shared earlier that if you do not

1649
01:14:50,360 --> 01:14:53,200
Speaker 3: police the insurance companies from skimping on care, there will

1650
01:14:53,240 --> 01:14:55,120
Speaker 3: skimp on care and that will be to the detriment

1651
01:14:55,280 --> 01:14:57,360
Speaker 3: of the public. And what I'm sharing with you is

1652
01:14:57,360 --> 01:14:59,320
Speaker 3: the way the system is designed from the inside. The

1653
01:14:59,360 --> 01:15:00,720
Speaker 3: only skip you can do is no more than ten

1654
01:15:00,760 --> 01:15:04,160
Speaker 3: percent of total spending. So you're sacrificing nine three percent

1655
01:15:04,200 --> 01:15:06,360
Speaker 3: because of this seven percent which happens all the time.

1656
01:15:08,600 --> 01:15:11,120
Speaker 2: There you have it, Ladian and gentlemen, Princes Detroit has

1657
01:15:11,120 --> 01:15:16,519
Speaker 2: spoken another classic. I appreciate you, brother, So what what

1658
01:15:16,520 --> 01:15:18,400
Speaker 2: what do the people need to tap in? Well? Can

1659
01:15:18,439 --> 01:15:21,120
Speaker 2: you say your information? All the information that you have

1660
01:15:21,200 --> 01:15:23,840
Speaker 2: about jet dot, Instagram, website and all of that stuff.

1661
01:15:23,880 --> 01:15:25,120
Speaker 3: I do it all, but before I do, I just

1662
01:15:25,160 --> 01:15:27,160
Speaker 3: want to make the comment. Any entrepreneurs out there, do

1663
01:15:27,200 --> 01:15:30,759
Speaker 3: your research on your business. You know, research the industry.

1664
01:15:31,280 --> 01:15:33,200
Speaker 3: What are the success rates where the failure rates and

1665
01:15:33,240 --> 01:15:37,360
Speaker 3: failure rates are okay, but why do they fail? You know,

1666
01:15:37,560 --> 01:15:40,640
Speaker 3: calculate your risk. Don't just jump out there. Calculate it,

1667
01:15:41,320 --> 01:15:43,720
Speaker 3: you know, particularly if you're an adult, meaning you have

1668
01:15:43,840 --> 01:15:46,760
Speaker 3: you know, responsibilities and you just can't.

1669
01:15:46,680 --> 01:15:47,240
Speaker 4: Just quit your job.

1670
01:15:47,280 --> 01:15:48,760
Speaker 3: I know so many people quit their job, think they're

1671
01:15:48,720 --> 01:15:51,000
Speaker 3: going to open the business. Then the business don't work, then

1672
01:15:51,040 --> 01:15:55,120
Speaker 3: they don't have a job board business. You know, all

1673
01:15:55,200 --> 01:15:58,680
Speaker 3: my businesses I started, I had something already gone right

1674
01:15:58,800 --> 01:16:00,800
Speaker 3: at this going I started, mind, so calculated my risk.

1675
01:16:00,880 --> 01:16:02,200
Speaker 3: Yeah I could lose it all, I could lose a lot,

1676
01:16:02,200 --> 01:16:04,160
Speaker 3: but I ain't gonna lose it all. At the time

1677
01:16:04,200 --> 01:16:05,920
Speaker 3: I started my decent business, I had a son, I

1678
01:16:06,000 --> 01:16:09,000
Speaker 3: was married with a son, and my wife was pregnant. Right,

1679
01:16:09,080 --> 01:16:12,120
Speaker 3: so I did these things. Again, I calculated my risk.

1680
01:16:12,160 --> 01:16:16,680
Speaker 3: So do your research. Understand your industry. Understand what is

1681
01:16:16,720 --> 01:16:19,320
Speaker 3: the best upside. Are you going into a lifestyle business,

1682
01:16:19,360 --> 01:16:21,479
Speaker 3: meaning you just want to be profitable and you make

1683
01:16:21,680 --> 01:16:23,720
Speaker 3: a million dollars a year, and you know, if that's

1684
01:16:23,760 --> 01:16:25,760
Speaker 3: the highest subside. That's a great lifestyle. But no, that's

1685
01:16:25,760 --> 01:16:27,439
Speaker 3: what you get into. Or you're trying to do a

1686
01:16:27,560 --> 01:16:28,759
Speaker 3: value creation business.

1687
01:16:28,920 --> 01:16:29,479
Speaker 2: Do what I did.

1688
01:16:29,520 --> 01:16:31,280
Speaker 3: You create something that may take a little more time,

1689
01:16:32,080 --> 01:16:34,240
Speaker 3: maybe it goes fast becus the technology. But guess what

1690
01:16:34,560 --> 01:16:36,519
Speaker 3: now you sell it four hundred million dollars billion dollars

1691
01:16:36,880 --> 01:16:38,679
Speaker 3: and then you actually get a lump sum of money.

1692
01:16:39,080 --> 01:16:39,760
Speaker 4: And I wanna tell you this.

1693
01:16:39,760 --> 01:16:42,320
Speaker 3: When you get lump some money, it's a beautiful thing. You

1694
01:16:42,320 --> 01:16:44,400
Speaker 3: could make five million dollars a year. That sounds good, right,

1695
01:16:44,479 --> 01:16:45,640
Speaker 3: you can make ten mill a year, But then you

1696
01:16:45,680 --> 01:16:47,519
Speaker 3: got half of taxes, and then you got lifestyle. You

1697
01:16:47,600 --> 01:16:49,400
Speaker 3: got a big house, you're living out here, you got

1698
01:16:49,400 --> 01:16:53,240
Speaker 3: a thousand cars. You know you're spending your money. But

1699
01:16:53,280 --> 01:16:55,840
Speaker 3: you get that lump sum, that big check that mighty

1700
01:16:55,840 --> 01:16:58,880
Speaker 3: be working for. You got to work that money working.

1701
01:16:59,400 --> 01:17:01,360
Speaker 3: You did what I'm say saying, like my money works,

1702
01:17:01,800 --> 01:17:03,960
Speaker 3: I ain't gotta do s hi t. My money be

1703
01:17:04,120 --> 01:17:08,840
Speaker 3: working in the stock market and this it's just working

1704
01:17:08,920 --> 01:17:11,840
Speaker 3: on its own. And that's where I decided I wanted

1705
01:17:11,840 --> 01:17:13,760
Speaker 3: to be and that's where I'm at. But really, know

1706
01:17:13,800 --> 01:17:15,160
Speaker 3: what you're trying to get into and what you're trying

1707
01:17:15,160 --> 01:17:17,599
Speaker 3: to get out of it. You know, do your research,

1708
01:17:17,600 --> 01:17:19,559
Speaker 3: do your homework. When I want a contract in DC

1709
01:17:19,680 --> 01:17:21,280
Speaker 3: is because I did. In addition to all things I

1710
01:17:21,280 --> 01:17:24,160
Speaker 3: talked about, right, you know, I did a political stuff

1711
01:17:24,160 --> 01:17:26,040
Speaker 3: and government contracts to people and all that kind of

1712
01:17:26,040 --> 01:17:29,599
Speaker 3: smooth stuff. But also I put together the best plan

1713
01:17:29,800 --> 01:17:30,519
Speaker 3: for the district.

1714
01:17:31,360 --> 01:17:31,519
Speaker 2: Right.

1715
01:17:31,520 --> 01:17:33,559
Speaker 3: I understood where the power was it was in DC.

1716
01:17:33,680 --> 01:17:36,840
Speaker 3: I understood the program for cbe for the minority business

1717
01:17:36,880 --> 01:17:40,840
Speaker 3: of DC. I understood all the healthcare can all the

1718
01:17:41,720 --> 01:17:45,240
Speaker 3: I read every article about healthcare in d C. DC

1719
01:17:45,400 --> 01:17:48,080
Speaker 3: is broken up by war to eight wars, like borough

1720
01:17:48,120 --> 01:17:51,080
Speaker 3: is probably New York. I understood the health issues of

1721
01:17:51,160 --> 01:17:53,600
Speaker 3: each borough in New York, and I put together a

1722
01:17:53,640 --> 01:17:57,639
Speaker 3: plan for and so anyway, I just really avied to

1723
01:17:57,640 --> 01:18:00,000
Speaker 3: do their homework. You know, calculator the risk, do your home,

1724
01:18:00,240 --> 01:18:00,880
Speaker 3: but take risks.

1725
01:18:00,920 --> 01:18:01,080
Speaker 2: Right.

1726
01:18:01,160 --> 01:18:06,240
Speaker 4: My shirt says what high risk. I'm a high risk, hard.

1727
01:18:06,080 --> 01:18:09,920
Speaker 3: Reward guy, you know. But you know, if you want more,

1728
01:18:09,960 --> 01:18:13,360
Speaker 3: you gotta do more. That being said Tommy two duncan on,

1729
01:18:13,400 --> 01:18:14,439
Speaker 3: I g at Tommy too.

1730
01:18:14,520 --> 01:18:15,680
Speaker 4: Duncan h.

1731
01:18:17,920 --> 01:18:21,439
Speaker 3: Jet doc my jet doc on I g jet dot

1732
01:18:21,479 --> 01:18:24,920
Speaker 3: dot com. The Prince of Detroit film. Go check that out,

1733
01:18:24,920 --> 01:18:26,160
Speaker 3: Prince of Detroit Film. That's what I'm doing.

1734
01:18:26,200 --> 01:18:28,840
Speaker 4: I'm having fun with that, and I got other things popping.

1735
01:18:29,360 --> 01:18:31,800
Speaker 3: But what I love to do on anything Rashot and

1736
01:18:31,840 --> 01:18:35,160
Speaker 3: Troy's talk about entrepreneurship to help people be successful. I

1737
01:18:35,160 --> 01:18:37,400
Speaker 3: feel like that's what what's missing in our community is

1738
01:18:37,439 --> 01:18:40,720
Speaker 3: real mentorship on kind of ropes to skip the ropes

1739
01:18:40,720 --> 01:18:42,040
Speaker 3: of note and I feel like y'all are doing it,

1740
01:18:42,120 --> 01:18:43,400
Speaker 3: and so I appreciate you having me on the show

1741
01:18:43,439 --> 01:18:44,160
Speaker 3: to do my little part.

1742
01:18:44,600 --> 01:18:46,880
Speaker 2: Thank you, appreciate you, man. I'm glad we was able

1743
01:18:46,880 --> 01:18:49,479
Speaker 2: to connect. Definitely look forward to, you know, establishing a

1744
01:18:49,520 --> 01:18:53,240
Speaker 2: stronger relationship, tons and tons of information and it's one

1745
01:18:53,320 --> 01:18:56,439
Speaker 2: of these things where we don't know a lot about,

1746
01:18:56,680 --> 01:18:59,559
Speaker 2: you know, the type of informational topics when it comes

1747
01:18:59,600 --> 01:19:02,960
Speaker 2: to healthcare. Yeah, and just to have somebody you know,

1748
01:19:03,040 --> 01:19:04,680
Speaker 2: that we can relate to. That's kind of been the

1749
01:19:04,720 --> 01:19:07,160
Speaker 2: formul of our success is just bring people on that

1750
01:19:07,200 --> 01:19:11,000
Speaker 2: people can relate to and break down very complex situations

1751
01:19:11,000 --> 01:19:12,000
Speaker 2: and make them understandable.

1752
01:19:12,000 --> 01:19:14,120
Speaker 3: And that's what you did. So thank you for joining us.

1753
01:19:14,320 --> 01:19:16,960
Speaker 3: Can do one more thing, for sure, one more thing

1754
01:19:17,360 --> 01:19:25,040
Speaker 3: all right right now, because of social media. Every industry

1755
01:19:25,080 --> 01:19:27,280
Speaker 3: is up for disruption. It's the first time in history.

1756
01:19:27,360 --> 01:19:32,880
Speaker 3: So before you know, most black people, folks who come

1757
01:19:32,880 --> 01:19:38,280
Speaker 3: from where we come from, had barriers right resources, know

1758
01:19:38,400 --> 01:19:40,960
Speaker 3: how I talked about that like real mentorship, but even

1759
01:19:41,000 --> 01:19:42,680
Speaker 3: access to resources. How do you get to clients? It

1760
01:19:42,680 --> 01:19:47,040
Speaker 3: costs money to market. Now through social media. I promise

1761
01:19:47,120 --> 01:19:50,200
Speaker 3: you everything is up for disruption. You could start a

1762
01:19:50,240 --> 01:19:53,960
Speaker 3: hot sauce company, mark that hot sauce and before you

1763
01:19:53,960 --> 01:19:57,439
Speaker 3: know it, you'll be bigger than Red Hot. You look

1764
01:19:57,479 --> 01:20:01,799
Speaker 3: around at pillows, anything you can, it's all up for disruption.

1765
01:20:02,200 --> 01:20:03,920
Speaker 4: It's the first time in history. That's the case where

1766
01:20:03,960 --> 01:20:04,559
Speaker 4: people can go.

1767
01:20:04,600 --> 01:20:09,439
Speaker 3: From whatever they're doing to become a billionaire overnight because

1768
01:20:09,520 --> 01:20:11,440
Speaker 3: they can talk directly to consumers.

1769
01:20:12,360 --> 01:20:15,320
Speaker 2: That's like us. We also said the whole industry when

1770
01:20:15,360 --> 01:20:17,559
Speaker 2: it comes to finance, and we have a show called

1771
01:20:17,600 --> 01:20:20,040
Speaker 2: Market Monday. Shot to Ian our partner on that, and

1772
01:20:20,840 --> 01:20:24,840
Speaker 2: it's like massively successful show. Every single Monday. We talk

1773
01:20:24,880 --> 01:20:27,840
Speaker 2: about stocks and investing. So shout out to Josh Brown.

1774
01:20:27,880 --> 01:20:31,040
Speaker 2: Josh Brown is on CNBC and he's been on Wall

1775
01:20:31,040 --> 01:20:33,320
Speaker 2: Street for like thirty years. Good guy. So he was

1776
01:20:33,439 --> 01:20:36,040
Speaker 2: talking and he was like yeah, your legia. They got

1777
01:20:36,040 --> 01:20:40,960
Speaker 2: the show and he was like them, they're influencing financial markets.

1778
01:20:40,960 --> 01:20:43,360
Speaker 2: He's like, there's like seven thousand people watching the show live.

1779
01:20:43,560 --> 01:20:47,599
Speaker 2: Like they're influencing financial markets more than anybody on the street. Geez.

1780
01:20:48,360 --> 01:20:52,040
Speaker 2: He said that, and that was crazy. But it's true crazy,

1781
01:20:52,080 --> 01:20:53,519
Speaker 2: and it's like you know what I'm saying. It's just

1782
01:20:53,520 --> 01:20:55,720
Speaker 2: say it's like it that's game changing, man.

1783
01:20:55,800 --> 01:20:59,360
Speaker 1: Yeah, the disruption at its finance. So I'll leave you

1784
01:20:59,400 --> 01:20:59,680
Speaker 1: with this.

1785
01:21:00,080 --> 01:21:02,200
Speaker 3: Make sure you know as you're doing what you're doing,

1786
01:21:02,520 --> 01:21:04,840
Speaker 3: have somebody legal doing your research. Keep you all in

1787
01:21:04,880 --> 01:21:07,200
Speaker 3: compliance because it's more prowfer you get, they'll be coming

1788
01:21:07,240 --> 01:21:07,479
Speaker 3: at you.

1789
01:21:08,800 --> 01:21:12,439
Speaker 2: Yeah, that's what just said that. He just said that.

1790
01:21:12,439 --> 01:21:16,200
Speaker 2: That's what Dave said yesterday. That's a fact. No, I

1791
01:21:16,240 --> 01:21:20,599
Speaker 2: appreciate that, brother. Definitely definitely Troy housekeeping idols. Man, I

1792
01:21:20,600 --> 01:21:21,360
Speaker 2: want to. I want to.

1793
01:21:21,600 --> 01:21:23,960
Speaker 1: Dame also said that we should mention this that there

1794
01:21:24,000 --> 01:21:24,920
Speaker 1: was a Wolf of will Street.

1795
01:21:24,920 --> 01:21:27,360
Speaker 2: This is the Wolf of Healthcare. Yeahl of health wolf

1796
01:21:27,360 --> 01:21:27,839
Speaker 2: of Healthcare.

1797
01:21:27,920 --> 01:21:31,400
Speaker 1: And I had the word Prince of Detroit, but we

1798
01:21:31,479 --> 01:21:33,920
Speaker 1: might have to nominate them for another title.

1799
01:21:35,560 --> 01:21:38,479
Speaker 2: Because this is this is pretty legendary. That being said

1800
01:21:38,479 --> 01:21:39,400
Speaker 2: Shout out to Jed Talk.

1801
01:21:39,720 --> 01:21:41,080
Speaker 1: And one of the things I know that you guys

1802
01:21:41,120 --> 01:21:45,439
Speaker 1: prob yourself on is affordability and accessibility, and so I

1803
01:21:45,479 --> 01:21:47,320
Speaker 1: want to encourage people just to check it out. Just

1804
01:21:47,400 --> 01:21:50,559
Speaker 1: check it out. But yeah, shout everybody on pictureon dot com.

1805
01:21:50,680 --> 01:21:53,160
Speaker 1: That is our product to paid program. Shout told earners

1806
01:21:53,160 --> 01:21:54,840
Speaker 1: that are on there. Shout to everybody in e y

1807
01:21:54,960 --> 01:21:58,200
Speaker 1: L University staff has grown, y'all. Shout out to the

1808
01:21:58,200 --> 01:22:01,120
Speaker 1: earners and shout everybody. Uh with the merch.

1809
01:22:01,240 --> 01:22:04,080
Speaker 2: I know y'all see us with the exclusive merch. Oh,

1810
01:22:04,200 --> 01:22:07,000
Speaker 2: speaking of Detroit, shout out to my boy Chill. Oh yeah, yeah, no,

1811
01:22:07,960 --> 01:22:12,360
Speaker 2: that's Southwest's son, and he gave me this murch He's real.

1812
01:22:12,439 --> 01:22:14,360
Speaker 2: He's a friend of a good friend. It's very rare

1813
01:22:14,439 --> 01:22:18,160
Speaker 2: when we wear something that's not show. But my man Chill,

1814
01:22:18,240 --> 01:22:20,840
Speaker 2: they just got in the legal marijuana business. They're working

1815
01:22:20,880 --> 01:22:23,400
Speaker 2: with Al Harrington. Shout out to Al Harrington Viola and

1816
01:22:23,439 --> 01:22:25,640
Speaker 2: they got a strand and this was the drop of

1817
01:22:25,720 --> 01:22:28,559
Speaker 2: his new strands. So shout out to Chill. Shout out

1818
01:22:28,560 --> 01:22:30,320
Speaker 2: to his dad Southwest. He got a chance to chop

1819
01:22:30,320 --> 01:22:32,280
Speaker 2: it up with him. Good guy. Shout out to all

1820
01:22:32,280 --> 01:22:35,320
Speaker 2: the guys in Detroit, man, real, real, solid, old school

1821
01:22:35,360 --> 01:22:38,559
Speaker 2: type of just get money. Yeah, you know, it's a

1822
01:22:38,560 --> 01:22:43,360
Speaker 2: good vibe out there. That's my city. I like it, man.

1823
01:22:43,360 --> 01:22:45,320
Speaker 2: So shout shout out to my boy chill Man. Yeah.

1824
01:22:45,360 --> 01:22:47,720
Speaker 1: But again, shoutout to the merch team. Shout to that

1825
01:22:47,840 --> 01:22:51,200
Speaker 1: boy Mike Iye Boguard for the exclusive drops. We got

1826
01:22:51,200 --> 01:22:53,479
Speaker 1: something that we brewing. Trust me, it's going to be major.

1827
01:22:53,960 --> 01:22:56,439
Speaker 1: Uh Yeah, love us love, Thank you guys for rocking

1828
01:22:56,479 --> 01:22:57,599
Speaker 1: with us. We'll see you next week.

1829
01:22:57,720 --> 01:23:05,080
Speaker 2: Peace. My graduates from my school being false backdrop b

1830
01:23:05,439 --> 01:23:20,400
Speaker 2: drop a mic drop backdrop Drop earners. What's up?

1831
01:23:20,479 --> 01:23:22,960
Speaker 1: You ever walk into a small business and everything just

1832
01:23:23,120 --> 01:23:26,280
Speaker 1: works like? The checkout is fast, the seats are digital,

1833
01:23:26,800 --> 01:23:29,800
Speaker 1: tipping is a breeze, and you're out the door before

1834
01:23:29,800 --> 01:23:33,960
Speaker 1: the line even builds. Odds are they're using Square. We

1835
01:23:34,120 --> 01:23:36,640
Speaker 1: love supporting businesses that run on Square because it just

1836
01:23:36,680 --> 01:23:39,920
Speaker 1: feels seamless. Whether it's a local coffee shop, a vendor

1837
01:23:39,960 --> 01:23:42,160
Speaker 1: at a pop up market, or even one.

1838
01:23:41,960 --> 01:23:43,080
Speaker 2: Of our merch partners.

1839
01:23:43,320 --> 01:23:47,120
Speaker 1: Square makes it easy for them to take payments, manage inventory,

1840
01:23:47,200 --> 01:23:51,200
Speaker 1: and run their business with confidence, all from one simple system.

1841
01:23:51,200 --> 01:23:53,920
Speaker 1: One of the things we love most is seeing neighborhood

1842
01:23:53,960 --> 01:23:57,280
Speaker 1: businesses level up. Disney's West Indian spot right in our

1843
01:23:57,280 --> 01:24:01,040
Speaker 1: community that started with a small takeout counter. Now with Square,

1844
01:24:01,160 --> 01:24:03,720
Speaker 1: they've been able to expand into a full sit down

1845
01:24:03,760 --> 01:24:07,920
Speaker 1: restaurant and even started catering events across the city. That's

1846
01:24:07,960 --> 01:24:10,759
Speaker 1: the kind of growth that inspires us, and it's powered

1847
01:24:10,760 --> 01:24:14,120
Speaker 1: by Square. Square is built for all types of businesses,

1848
01:24:14,320 --> 01:24:17,280
Speaker 1: from the corner bagel shop that turned into a local chain,

1849
01:24:17,640 --> 01:24:20,840
Speaker 1: to the specialty market with thousands of unique items, to

1850
01:24:20,920 --> 01:24:23,920
Speaker 1: the stylist who's been holding you down for years. If

1851
01:24:23,960 --> 01:24:26,799
Speaker 1: you're a business owner or even just thinking about launching

1852
01:24:26,800 --> 01:24:29,840
Speaker 1: something soon, Square is hands down one of the best

1853
01:24:29,840 --> 01:24:32,960
Speaker 1: tools out there to help you start, run and grow.

1854
01:24:33,280 --> 01:24:36,280
Speaker 1: It's not just about payments, it's about giving you time

1855
01:24:36,360 --> 01:24:39,320
Speaker 1: back so you can focus on what matters most ready.

1856
01:24:39,320 --> 01:24:42,719
Speaker 1: To see how Square can transform your business, visit Square

1857
01:24:42,800 --> 01:24:47,320
Speaker 1: dot com backslash, go backslash eyl to learn more that

1858
01:24:47,520 --> 01:24:52,920
Speaker 1: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.

1859
01:24:53,080 --> 01:24:55,439
Speaker 1: Let Square handle the back end so you can keep

1860
01:24:55,479 --> 01:24:56,719
Speaker 1: pushing your vision forward.