WEBVTT - Ep 311: A Stock Split Holiday 0:00:06.480 --> 0:00:15.280 Hey, hey, hey, we're back. We're black, We're brown ambition. 0:00:17.320 --> 0:00:21.239 Hey mana yes to this shirt. It's a dress. I 0:00:21.239 --> 0:00:23.720 was gonna say, this is a frock. It's a frock. 0:00:24.079 --> 0:00:27.440 It's a frock and a half for frock's sake. This 0:00:27.480 --> 0:00:30.480 is from the Target. I'm sony. 0:00:30.520 --> 0:00:33.919 Is this a tap of line? No? Not to you right? No? 0:00:33.920 --> 0:00:36.120 No, no, not tabsline. This is from one of their 0:00:36.159 --> 0:00:38.519 capsule collections. It's a black designer. I want to say 0:00:38.560 --> 0:00:41.920 his first name is Chris. Okay, but every once in 0:00:41.920 --> 0:00:43.560 a while I see a beautiful black woman in the 0:00:43.560 --> 0:00:46.040 wilderness wearing their shirt, and I just dress and I 0:00:46.120 --> 0:00:47.960 just want to be like Target. No, but it's just 0:00:48.000 --> 0:00:49.599 no one wants you to just run up on them 0:00:49.640 --> 0:00:51.479 and talk about Target. 0:00:51.640 --> 0:00:54.360 It's really cute. The frock is crocking you. Hey, you 0:00:54.440 --> 0:00:54.920 very much. 0:00:54.920 --> 0:00:56.440 You know. I do what I can. I do what 0:00:56.480 --> 0:01:00.880 I can. Hew you doing on this Monday. 0:01:01.200 --> 0:01:02.320 I'm doing pretty good. 0:01:02.440 --> 0:01:04.240 Actually had therapy this morning, so I was like, you know, 0:01:04.440 --> 0:01:07.640 sometimes I'd go like, oh no, but it was good, 0:01:07.880 --> 0:01:10.280 Like it was always good. Honestly, Doctor Green is always amazing. 0:01:10.480 --> 0:01:12.600 But you know, sometimes you just don't feel like dealing. 0:01:12.319 --> 0:01:14.959 With like like the stuff you have to deal with. 0:01:15.080 --> 0:01:16.800 My therapist called me out. She's like, if you're going 0:01:16.880 --> 0:01:19.720 to cancel the night before, you know, let's let's let's 0:01:19.840 --> 0:01:22.320 make this a twenty four hour and advance thing. So 0:01:22.360 --> 0:01:24.119 I'd be like, my, I don't think I'm gonna want 0:01:24.120 --> 0:01:25.000 to talk tomorrow. 0:01:25.600 --> 0:01:26.560 Yeah, she called me out. 0:01:27.000 --> 0:01:29.120 Sorry, doctor Laura. 0:01:29.520 --> 0:01:31.360 No, it just was like yeah, because sometimes and I 0:01:31.400 --> 0:01:33.119 honestly was thinking, I'm like maybe I should cancel. 0:01:33.200 --> 0:01:35.480 I'm like, do you want to cancel? Why? Why? 0:01:35.880 --> 0:01:37.880 You just don't feel like talking and dealing with the real, 0:01:38.200 --> 0:01:40.160 the real deal. That's okay to say it, but you're 0:01:40.200 --> 0:01:42.760 not canceling. And I didn't, and I'm glad that I didn't, 0:01:42.800 --> 0:01:45.960 because you know, really a really good therapist gives you 0:01:46.520 --> 0:01:48.520 something to think about. And said, huh, I never thought 0:01:48.560 --> 0:01:49.880 about it that way for sure. 0:01:49.880 --> 0:01:51.600 But it's like we don't want to save money. Sometimes 0:01:51.640 --> 0:01:53.560 I want to like go to brunch and not save money. 0:01:53.560 --> 0:01:56.640 And then I'm like, that's the therapy financial emergency fund. Thing, 0:01:56.720 --> 0:01:59.520 Like therapy is the emergency. 0:01:58.960 --> 0:01:59.880 Fund for y'all brain. 0:02:00.440 --> 0:02:04.280 It is do your tithing, do your contributions, show up 0:02:04.320 --> 0:02:06.720 if you don't want to show up. But thank you 0:02:06.760 --> 0:02:09.640 for that transparent moment. No, I've been in a this 0:02:09.680 --> 0:02:11.679 has been a day of sewing for me. Man. 0:02:12.200 --> 0:02:14.040 So whenever I like have a. 0:02:17.520 --> 0:02:23.480 I to be here with the needle and thread with 0:02:23.639 --> 0:02:27.360 whose free time? Nah, No, just whenever I have a 0:02:27.360 --> 0:02:29.240 busy day. Now, I go back to that analogy of 0:02:29.320 --> 0:02:32.000 like you're in your season of sewing that you talked 0:02:32.000 --> 0:02:34.760 about before, and I'm like this, I was sewing today, 0:02:35.160 --> 0:02:37.040 so so just a bunch of a bunch of stuff, 0:02:37.040 --> 0:02:40.280 but exciting stuff. I had to look at my calendar 0:02:40.320 --> 0:02:43.280 and I do like a pep talk for myself, like Okay, 0:02:43.320 --> 0:02:45.200 we can get through this. Also, let's look at the meeting. 0:02:45.240 --> 0:02:48.160 This is exciting stuff. This is like interesting stuff, you know. 0:02:48.320 --> 0:02:50.960 But you reminded me that I didn't even remember today 0:02:51.120 --> 0:02:54.480 was a holiday. It was Amazon stock split day. 0:02:54.840 --> 0:02:57.600 Girl, Okay, the girls are going up in the in 0:02:57.680 --> 0:02:59.480 the in the group chat. 0:02:59.639 --> 0:03:02.880 So I have a group around in any good group chat. 0:03:02.960 --> 0:03:05.399 And my sister's girl like, you know, if we don't 0:03:05.480 --> 0:03:07.680 keep it like it's literally just me and my four sisters. 0:03:07.680 --> 0:03:11.720 And so my sister Karen was like, don't forget today 0:03:11.760 --> 0:03:13.440 Amazon had their stocks split. 0:03:14.240 --> 0:03:17.760 What is it twenty to one. It's huge, so you can. 0:03:17.680 --> 0:03:19.639 Get a share of Amazon, right, I mean this is Monday, 0:03:19.680 --> 0:03:22.079 we're taping this, and obviously stocks change, but what's it 0:03:22.080 --> 0:03:23.799 that like one twenties one something right now? 0:03:23.919 --> 0:03:24.959 Yeah, like one twenty four? 0:03:25.680 --> 0:03:27.480 Well, I mean, well in the one twenties, because to 0:03:27.520 --> 0:03:30.360 your point, it is and who even knows. It's literally 0:03:30.400 --> 0:03:32.960 like fluctuating all over. But maybe we should explain what 0:03:33.000 --> 0:03:33.840 a stock split is. 0:03:34.280 --> 0:03:35.200 Can you explain it? 0:03:35.200 --> 0:03:38.839 Because I feel like I don't always understand entirely other 0:03:38.920 --> 0:03:41.680 than it's just like, oh, it's more affordable for people. 0:03:42.480 --> 0:03:45.360 Yeah, so it's not the same less you're the No, 0:03:45.440 --> 0:03:47.640 you're not getting less money or more money. Ye, it's 0:03:47.680 --> 0:03:49.320 literally let's just say you have a two to one 0:03:49.320 --> 0:03:53.200 stock split and you have one hundred dollars worth of 0:03:53.240 --> 0:03:56.240 stock of like we're just saying, you know, Brown Ambition stock, 0:03:56.320 --> 0:04:01.120 because why not? Right, So if one hundred if one stock, 0:04:01.160 --> 0:04:04.120 you have one stock of Branhambision is worth one hundred dollars. 0:04:04.200 --> 0:04:07.480 If we did a two to one stock split, then 0:04:07.520 --> 0:04:11.040 you would have two stocks, each worth fifty dollars a piece. 0:04:11.400 --> 0:04:14.600 So you still own one hundred dollars worth of stock. 0:04:15.120 --> 0:04:18.679 It's just split into two separate sections. So there's two reasons. Well, 0:04:18.839 --> 0:04:20.640 a couple of reasons why companies like to do this 0:04:20.760 --> 0:04:24.880 is that one Amazon was in the thousands. I can't 0:04:24.920 --> 0:04:26.360 remember what it was, and I should have checked them 0:04:27.040 --> 0:04:29.640 what it was before the two to one's the twenty 0:04:29.680 --> 0:04:32.960 to one stock split. It was literally five figures for 0:04:33.200 --> 0:04:37.000 one Amazon stock, which is a lot of money, right, 0:04:37.040 --> 0:04:38.359 And so one of the reason why they do a 0:04:38.360 --> 0:04:41.440 stock split is that now people who could not afford 0:04:41.760 --> 0:04:45.359 mostly everybody you know, to buy stock for one thousand 0:04:45.560 --> 0:04:49.440 dollars plus can most more likely afford to buy a stock, 0:04:49.960 --> 0:04:53.240 you know, for one hundred and twenty something dollars. So 0:04:53.640 --> 0:04:56.080 you're not getting like a bigger piece of the company. 0:04:56.320 --> 0:04:59.960 It's basically just like you're getting a fractional share you know, 0:05:00.160 --> 0:05:03.200 of this company you know. So that's one, and then two. 0:05:03.800 --> 0:05:05.960 What it allows is that if more people you know, 0:05:06.040 --> 0:05:08.720 how stocks and anything that you sell works is that 0:05:09.080 --> 0:05:13.120 the higher the demand, the more valuable thing becomes. Now 0:05:13.160 --> 0:05:15.800 people who normally were like, I can't buy Amazon are 0:05:15.839 --> 0:05:20.320 rushing to buy Amazon. And the hope is that the 0:05:20.360 --> 0:05:22.600 stock will go back up and creep back up from 0:05:22.640 --> 0:05:24.919 one to twenty something to two hundred to three hundred 0:05:25.120 --> 0:05:27.760 and beyond. So Amazon is going to be worth more 0:05:27.800 --> 0:05:30.760 money in the end, and like you to be able 0:05:30.800 --> 0:05:32.239 to get in on the groundish level. 0:05:32.640 --> 0:05:34.279 Yeah, it's like giving everyone another shot. 0:05:34.920 --> 0:05:35.920 Yes, exactly. 0:05:36.400 --> 0:05:39.159 Literally, it's like, so, yeah, so you know that obviously 0:05:39.200 --> 0:05:41.040 you have to do your homework. We're not here to 0:05:41.040 --> 0:05:43.840 say go buy Amazon. That's not what this is at all. 0:05:43.880 --> 0:05:46.000 It's just to know that there is a stock split, 0:05:46.279 --> 0:05:48.960 and at the very least it's a great opportunity for 0:05:49.000 --> 0:05:51.800 you to do a little studying and say, ooh, let 0:05:51.800 --> 0:05:54.360 me see how you know this is cute? So it's 0:05:54.400 --> 0:05:56.880 one twenty something today. So if we say this is Monday, 0:05:56.920 --> 0:05:58.320 the what is it the six mandy? 0:05:58.520 --> 0:05:59.240 When is the sixth? 0:05:59.480 --> 0:06:02.880 Yes, ma'am right, so June one of the sixth, twenty twenty. 0:06:03.160 --> 0:06:05.600 By the time you listen to this, where's the stock now? 0:06:05.640 --> 0:06:07.240 As a matter of fact, why don't. 0:06:07.000 --> 0:06:07.600 You tweet us? 0:06:07.640 --> 0:06:10.120 You know, we give use some tweets, just be like, hey, 0:06:10.160 --> 0:06:13.120 the stock price is this today? At what is it? 0:06:13.200 --> 0:06:17.120 DBA podcast on Twitter BA podcast, And so why don't 0:06:17.120 --> 0:06:18.839 you tweet us and say to you know, the stock 0:06:18.880 --> 0:06:21.520 price when I when I check today is thought. Matter 0:06:21.520 --> 0:06:23.840 of fact, let's mark the time exactly what it is, 0:06:23.920 --> 0:06:26.599 because I think that'll be really interesting to say, like, 0:06:26.800 --> 0:06:29.640 you know, day to day what the stock is looking like, 0:06:29.680 --> 0:06:33.640 because we get to practice like understanding, like you know 0:06:33.760 --> 0:06:35.080 how stocks go up and down. 0:06:35.160 --> 0:06:38.320 Let me see Amazon. Well, actually it's called alphabet. It's 0:06:38.320 --> 0:06:41.400 not Amazon, right, No, that's Google. You know that's Google. 0:06:41.440 --> 0:06:43.000 Look at me. Meanwhile, girl, I'm like, may let me 0:06:43.000 --> 0:06:44.040 make sure actually brought Amazon. 0:06:44.080 --> 0:06:49.880 Wouldn't be crazy if I bought. 0:06:47.120 --> 0:06:50.960 To Wait, who's the sister who helps you before you 0:06:51.000 --> 0:06:51.320 press this? 0:06:51.560 --> 0:06:57.000 It's like, so it is one twenty five, one hundred 0:06:57.000 --> 0:06:59.159 and twenty five dollars and forty cents. That's what it 0:06:59.200 --> 0:07:02.240 is right now, A hundred twenty five cents. Let us 0:07:02.320 --> 0:07:05.160 know the day you listen, whatever day you're listening, say 0:07:05.200 --> 0:07:07.320 I just checked the Amazon and it's now currently this. 0:07:07.400 --> 0:07:09.640 I think that'll be exciting to see, like the shift. 0:07:10.240 --> 0:07:13.560 Yeah, and I mean this is I will tell y'all 0:07:13.600 --> 0:07:15.800 point blank, I am not the one to give you 0:07:15.960 --> 0:07:19.320 specific stock advice. I'm the dumb dumb who bought Peloton 0:07:19.720 --> 0:07:23.360 like in the pandemic and because you know, we had 0:07:23.720 --> 0:07:28.120 Terry on Terry Agioma from she what's her name? Trade 0:07:28.160 --> 0:07:30.120 and travel. We had her on and we I got 0:07:30.160 --> 0:07:33.640 so excited, and she's like, again and again, if you don't, 0:07:33.840 --> 0:07:36.480 you don't, don't trade stocks without having a plan and 0:07:36.520 --> 0:07:38.560 how important your plan is and all that kind of stuff. 0:07:38.920 --> 0:07:41.120 I never had no plan. It was very apparent to me. 0:07:41.320 --> 0:07:43.320 I still have those shares of Peloton. They are probably 0:07:43.320 --> 0:07:45.880 worth like, I don't know, four dusty fruit loops from 0:07:46.160 --> 0:07:48.280 the bottom of my purse right now, that's probably what 0:07:48.320 --> 0:07:51.120 they were. Yeah, I'm still an index I'm gonna I'm 0:07:51.160 --> 0:07:54.480 an index fund gal. But I am like to your point, 0:07:54.640 --> 0:07:58.600 I'm I feel like at a certain point I will 0:07:58.640 --> 0:08:01.160 be ready. I'll be d need to put together a plan. 0:08:01.480 --> 0:08:04.120 I need to like get my crap together. But in 0:08:04.160 --> 0:08:09.000 the meantime, I'll watch you spend your money and sounds. 0:08:09.720 --> 0:08:11.640 But yeah, I mean because honestly, the last time I 0:08:11.760 --> 0:08:14.280 purchased the stock split let me see what it was, 0:08:15.000 --> 0:08:17.760 it did really well because I listened to you know, my. 0:08:17.840 --> 0:08:22.640 Gurroom aka Carol. Yes, I was like, I always ask Carol, 0:08:23.120 --> 0:08:26.480 so what do you do? Tesla stockspood? What it was Tesla? 0:08:26.640 --> 0:08:29.720 And also was it Google? It might have been Google see. 0:08:30.400 --> 0:08:32.200 Yes, I'm like, how do I even check? I'm such 0:08:32.200 --> 0:08:35.920 a but it was honestly, I'm not as well. It 0:08:35.920 --> 0:08:37.880 didn't do, you know, Like I mean, obviously everything is 0:08:37.920 --> 0:08:41.800 down now, but I had purchased Tesla. Yeah, so when 0:08:41.800 --> 0:08:43.880 I purchased Tesla, it was they had a stock split 0:08:44.080 --> 0:08:46.320 and it was still pretty pricey. It was four hundred 0:08:46.320 --> 0:08:48.560 and forty four dollars and eighty nine cents when I 0:08:48.559 --> 0:08:52.040 purchased Tesla during their stocks wood, and now Tesla is 0:08:52.080 --> 0:08:56.559 seven hundred and ten dollars, you know, because Tesla's on 0:08:56.600 --> 0:08:57.840 the up and doub we'll see because you know, Elon 0:08:57.960 --> 0:09:00.760 just be talking when I mess on Twitter, So go down, 0:09:02.040 --> 0:09:04.240 I mean, but I will say because I purchased it 0:09:04.360 --> 0:09:06.600 during the stock split, you know, like basically, it's back 0:09:06.640 --> 0:09:08.600 where it was before. And then at the time it 0:09:08.640 --> 0:09:11.840 was something else. It wasn't Amazon was oh it was Apple. 0:09:12.600 --> 0:09:14.920 Apple did a stock split around the same time, and 0:09:15.040 --> 0:09:17.520 I purchased Apple at that time for one twenty seven 0:09:17.880 --> 0:09:21.360 And now Apple is so not a tremendous jump up, 0:09:21.360 --> 0:09:23.680 but still so. But I because the time I could 0:09:23.720 --> 0:09:25.480 not have afforded whatever Apple was at that time. 0:09:25.520 --> 0:09:26.679 I think the Apple was four. 0:09:26.520 --> 0:09:28.800 To one, and I want to say Tesla was two 0:09:28.920 --> 0:09:31.400 to one then that they split basically like you know, 0:09:31.400 --> 0:09:33.560 the stock split was half and half, I think, and 0:09:33.600 --> 0:09:35.840 I think you know Amazon was like in the Amazon 0:09:37.120 --> 0:09:40.200 Apple was four to one. So yeah, So the thing 0:09:40.240 --> 0:09:45.160 I like about stock splits is that most financial folks 0:09:45.160 --> 0:09:48.360 will tell you that typically a company is going to 0:09:48.400 --> 0:09:53.040 split stocks only when they're feeling optimistic, because usually don't 0:09:53.040 --> 0:09:56.080 find failing companies do so. So it might be an 0:09:56.120 --> 0:09:59.000 indication that they're feeling like things are going good, maybe 0:09:59.000 --> 0:10:01.440 they have something new that's coming out, and you know, 0:10:01.480 --> 0:10:03.520 so it's a but here's the thing, like, we know 0:10:03.559 --> 0:10:05.720 how men are with their optimism. That doesn't necessarily mean 0:10:05.760 --> 0:10:08.640 anything just because someone is optimistic, but just keep that 0:10:08.679 --> 0:10:12.000 in mind that, like you know, someone a company can 0:10:12.040 --> 0:10:14.800 feel optimistic, but that doesn't mean that it ends up 0:10:14.840 --> 0:10:17.800 panning out. But just know that usually it's a sign 0:10:17.880 --> 0:10:20.720 of optimism, which might be a sign that the company 0:10:20.880 --> 0:10:22.679 is is feeling strong and good. 0:10:23.559 --> 0:10:24.000 Yeah. 0:10:24.120 --> 0:10:26.280 I love that, and thanks for reminding me that there's 0:10:26.280 --> 0:10:28.640 a bright side. I did get some Apple stock and 0:10:28.679 --> 0:10:31.680 my husband and we got Apple and some Tezzi even 0:10:31.720 --> 0:10:36.120 though oh teslah elon Musk I just want just let 0:10:36.120 --> 0:10:39.600 me enjoy my car. Just let me enjoy my good 0:10:39.600 --> 0:10:43.120 contribution to the environment and feel smug at stop lights 0:10:43.320 --> 0:10:45.040 when people try to raise me and I beat him 0:10:45.080 --> 0:10:47.240 every time because that car is damn fast. 0:10:47.720 --> 0:10:49.240 But Elon is ugh. 0:10:49.720 --> 0:10:51.720 I can't even keep track of the bs or reach 0:10:52.320 --> 0:10:56.480 coming out of his his his world, his tweets. So 0:10:56.840 --> 0:10:58.760 for the and for those of y'all who who who 0:10:58.920 --> 0:11:01.120 have I think we've every time we kind of mentioned 0:11:01.200 --> 0:11:03.640 Tesla every once in a while, get like a DM 0:11:03.720 --> 0:11:08.680 to Brian Ambisson podcast on ig plug about the fact 0:11:08.720 --> 0:11:11.280 that the company has been accused of racism in a 0:11:11.320 --> 0:11:15.040 couple of ways. So they've been hit with like severaldiscrimination 0:11:15.160 --> 0:11:20.760 lawsuits and even potentially being flagged by the whole state 0:11:20.800 --> 0:11:23.360 of California for you know, in their I don't know 0:11:23.520 --> 0:11:26.720 what the status is of that, but it's some problems 0:11:26.720 --> 0:11:28.800 over there. And that was like back in February twenty 0:11:28.840 --> 0:11:30.480 twenty two, just. 0:11:30.880 --> 0:11:32.560 To light after reading about that's one. But when it 0:11:32.600 --> 0:11:34.200 came to light, basically. 0:11:34.120 --> 0:11:35.760 When it came to light, yes, of course, So this 0:11:35.800 --> 0:11:39.400 has been the experience of workers potentially for years. But 0:11:39.480 --> 0:11:42.240 then he's just like trying to buy Twitter. And then 0:11:42.559 --> 0:11:44.439 what pissed me off the most was last week when 0:11:44.440 --> 0:11:45.880 he sent out that was it a tweet or an 0:11:45.880 --> 0:11:49.600 email that his staff has He's like, get back to 0:11:49.640 --> 0:11:54.280 the office or else minimum of forty hours per week 0:11:55.040 --> 0:11:57.839 and what he said something about like or. 0:11:57.800 --> 0:12:00.720 Pretend to work someplace else, Yeah, which I'm like, what 0:12:00.840 --> 0:12:01.720 a douche. 0:12:02.520 --> 0:12:04.760 While you pretend to work while you're just tweeting out 0:12:04.800 --> 0:12:09.360 of your anus. Girl, Like, uh, I don't want to 0:12:09.400 --> 0:12:10.520 get back my tussle, y'all? 0:12:10.520 --> 0:12:11.000 Do I have. 0:12:13.280 --> 0:12:15.960 No? But it's just like I feel like another toxic 0:12:16.840 --> 0:12:19.760 you get when you create these deities, these demigods. I 0:12:19.800 --> 0:12:23.080 feel like in the corporate world, this is what happens. 0:12:23.200 --> 0:12:26.040 And I mean you've got Jeff Bezos flying off on 0:12:26.120 --> 0:12:28.880 a dick shape rocket to the moon, you know, spending 0:12:28.920 --> 0:12:32.080 billions of dollars on it. And now you've got Musk 0:12:32.280 --> 0:12:34.480 swinging it around on the Internet and just making a 0:12:34.480 --> 0:12:37.440 fool of himself. And we sort of give them these 0:12:37.760 --> 0:12:41.040 platforms to do it on, you know, by just treating 0:12:41.040 --> 0:12:45.480 them like they are, yeah, deities on this earth, and 0:12:45.520 --> 0:12:48.960 we create these giants and then they get to swing 0:12:49.000 --> 0:12:51.440 and do whatever they want to do and cause chaos 0:12:51.480 --> 0:12:55.120 and create turmoil, and you know, I think we're reaping 0:12:55.120 --> 0:12:55.400 what we. 0:12:55.440 --> 0:12:59.600 So I get Yeah, honestly, my husband for buying his memoir, 0:13:00.840 --> 0:13:02.480 he bought Elon mus has a memoir. 0:13:03.480 --> 0:13:05.760 All right, that's not entirely true. I bought him the 0:13:05.760 --> 0:13:07.800 memoir for his But. 0:13:07.800 --> 0:13:09.800 Here's the thing you can again, I'm further problem. 0:13:10.400 --> 0:13:13.360 No, you can learn from different people. I don't even 0:13:13.440 --> 0:13:16.200 you know, there's a lot of business men and women 0:13:16.240 --> 0:13:18.320 who I might not agree with all their philosophy or whatever, 0:13:18.360 --> 0:13:20.079 but there's something to still be learned sometimes is to 0:13:20.160 --> 0:13:21.760 learn how not to do that and how not to 0:13:21.800 --> 0:13:24.480 be that way, so that I don't think like you 0:13:24.480 --> 0:13:27.439 know that's and you're right. You know, when you have 0:13:27.640 --> 0:13:32.600 wealth and power, you know, the rules don't apply. I 0:13:32.640 --> 0:13:36.960 remember reading an article about this person became a wealth 0:13:37.040 --> 0:13:39.640 planner on purpose just to see the privilege that the 0:13:39.760 --> 0:13:42.040 uber wealthy have. So he became, like, you know, a 0:13:42.080 --> 0:13:44.880 wealth planner, and sometimes they, like he said, he remembers 0:13:44.880 --> 0:13:46.959 like one of his first weeks on the job, his 0:13:47.000 --> 0:13:49.000 boss was like, we have to fly to Switzerland to 0:13:49.040 --> 0:13:50.520 meet with one of our clients. You can come with 0:13:50.600 --> 0:13:52.320 us so you can see how you know, we interact 0:13:52.760 --> 0:13:55.880 and he gets to the private plane that's what they're 0:13:55.920 --> 0:13:57.280 flying out of. He said, oh my god, I forgot 0:13:57.320 --> 0:13:59.720 my passport. I have to run back home. And his 0:14:00.240 --> 0:14:01.880 was like, you don't need it. He's like, no, no, 0:14:02.040 --> 0:14:05.000 we're flying to Switzerland. I name my passport and he 0:14:05.120 --> 0:14:08.480 was like, no, you don't need it. You'll see there's 0:14:08.559 --> 0:14:11.760 no checks, no balances, no nothing. They landed, nobody asked 0:14:11.760 --> 0:14:14.800 for his passport. Nobody asked for anything. Those rules don't 0:14:14.840 --> 0:14:18.040 apply to the uber ro key. Imagine flying to a 0:14:18.080 --> 0:14:21.160 whole other country from the United States and flying back 0:14:21.240 --> 0:14:24.320 and not being asked for your passport. All these arbitrary 0:14:24.360 --> 0:14:26.360 rules they come up with for us, they don't apply 0:14:26.440 --> 0:14:28.800 to the uber wealthy. And that's why you see them 0:14:28.840 --> 0:14:32.040 behave like children, because it's like, you know, your two 0:14:32.120 --> 0:14:33.480 year old is like, the rules don't apply. 0:14:33.480 --> 0:14:35.560 It's it's who you're talking to. I run this. 0:14:36.080 --> 0:14:38.240 You know, like children don't have the same rules as 0:14:38.280 --> 0:14:41.680 adults do, and therefore they act out but their children. 0:14:42.000 --> 0:14:44.960 And I feel like people are some of these uber 0:14:44.960 --> 0:14:47.280 wealthy folks are out of them, out of touch the 0:14:47.280 --> 0:14:50.320 way regular people have to navigate life, and so they 0:14:50.360 --> 0:14:53.560 think that they can say whatever, and it changes literally 0:14:53.640 --> 0:14:57.600 the landscape of the economy. Like Elon Musk can tweet 0:14:57.680 --> 0:14:59.680 something about remember he tweeted the thing about like those 0:14:59.800 --> 0:15:02.320 corn you know, he sent us something on snel about 0:15:02.160 --> 0:15:04.880 doge coin and it's which is a cryptocurrency, and it 0:15:05.640 --> 0:15:09.520 made that coin shoot up in value and so and 0:15:09.560 --> 0:15:12.040 he doesn't care. He thinks it's funny and so to. 0:15:12.160 --> 0:15:14.359 Just go yeah high. 0:15:14.400 --> 0:15:16.840 He also has this thing about and there is something 0:15:16.880 --> 0:15:19.040 that I learned about Elon actually learned from him that 0:15:19.120 --> 0:15:22.440 to point, but he has this this feeling. You can 0:15:22.440 --> 0:15:24.360 tell from what he says that he has this moral 0:15:24.440 --> 0:15:28.200 high ground because he's created Tesla, which is an electronic 0:15:28.280 --> 0:15:30.840 electric vehicle, and like solar panels, and you know, has 0:15:30.880 --> 0:15:33.400 done so much for climate change. And he pitched a 0:15:33.440 --> 0:15:36.440 hissy fit on Twitter because have you heard of socially 0:15:36.480 --> 0:15:40.760 responsible investing or esg's And wait, what does it stand for? 0:15:41.040 --> 0:15:44.520 ESG funds? So there are these this yeah, this class 0:15:44.520 --> 0:15:48.800 of we got when we opened Rio's brokerage brokerage account, 0:15:48.800 --> 0:15:52.640 we gave him a socially responsible like ESG. I think 0:15:52.800 --> 0:15:56.000 we invested in him in that particular fund. And it's 0:15:56.000 --> 0:15:58.840 basically like we talk about index funds and ETFs, which 0:15:58.840 --> 0:16:01.400 are basically like a little menu of not a little 0:16:01.440 --> 0:16:04.080 but sometimes they can be every company or the top 0:16:04.120 --> 0:16:07.920 five hundred companies. With ETFs, it can be tied to 0:16:07.960 --> 0:16:12.960 a certain sector. So with ESG funds, you have investment 0:16:13.000 --> 0:16:15.200 firms trying to come up with like a list of 0:16:15.280 --> 0:16:20.520 companies who have socially responsible policies, good environmental impact, you know, 0:16:20.680 --> 0:16:24.320 are basically have some kind of like moral fiber and 0:16:24.560 --> 0:16:28.320 goodness about them, and it's all very arbitrary, and there's 0:16:28.400 --> 0:16:31.640 been controversy about them in the past, like is this 0:16:31.680 --> 0:16:34.360 actually a smart way to invest? Like do these companies 0:16:34.400 --> 0:16:37.920 actually perform better? And as investors, you know, who want 0:16:37.960 --> 0:16:40.160 to feel good about what they're buying, like me, I 0:16:40.160 --> 0:16:41.720 want to get my son something that I can be 0:16:41.760 --> 0:16:43.840 proud of, and I just kind of blindly say, oh, 0:16:43.880 --> 0:16:46.520 this must be the good companies to invest in. But 0:16:47.040 --> 0:16:49.640 you know, it's actually been found that they don't perform, 0:16:49.800 --> 0:16:51.800 Like these actual funds are not now that we have 0:16:51.840 --> 0:16:55.880 some historical data, are not performing that great compared to 0:16:56.040 --> 0:16:59.600 other even potentially lower cost, lower fee funds. 0:17:00.240 --> 0:17:01.360 And I did learn that. 0:17:01.360 --> 0:17:04.479 Because ELI pitched a hissy fit because they Tesla got 0:17:04.600 --> 0:17:08.560 kicked out of one of these funds. And that's what 0:17:08.640 --> 0:17:13.879 it's like, just because your your product does some good. 0:17:14.320 --> 0:17:17.680 I feel like the the idea that now you are 0:17:17.720 --> 0:17:21.360 not responsible for what happens at the company that creates 0:17:21.359 --> 0:17:24.800 your product, that to me is where we need to 0:17:24.800 --> 0:17:28.360 hold them accountable. Yes, so I'll be very very interested, 0:17:28.400 --> 0:17:30.240 and I will be watching and I may hit the 0:17:30.240 --> 0:17:32.920 refund button or exchange button on the car. Who knows, 0:17:33.560 --> 0:17:37.479 depending on how these lawsuits turn out, because that's just 0:17:37.520 --> 0:17:40.760 not I don't I don't want to condone that, and no. 0:17:40.760 --> 0:17:42.880 Good, no good. Oh. 0:17:43.160 --> 0:17:44.800 I do have like a little update because a few 0:17:44.800 --> 0:17:46.760 of you hit me up. I had like the last 0:17:46.800 --> 0:17:49.000 of my calls with like some of my former employees 0:17:49.000 --> 0:17:51.320 and they just went really well, I have to say 0:17:51.440 --> 0:17:55.439 I have the same Yeah. So it just you know, 0:17:55.480 --> 0:17:59.320 it was like it was hard for sure, but ultimately, 0:17:59.359 --> 0:18:00.960 you know, that's why the things I'm learning with doctor 0:18:00.960 --> 0:18:02.879 Green is like girls say the hard thing now says, 0:18:02.920 --> 0:18:06.560 so you can live, you know, because I walk around 0:18:06.600 --> 0:18:08.520 like is it have you ever watched Charlie Brown? 0:18:09.600 --> 0:18:10.920 I mean I'm familiar. 0:18:11.280 --> 0:18:13.800 I know, right, there's like there's one character is that Lionus. 0:18:13.840 --> 0:18:15.560 There's a character that walks from with like a cloud 0:18:15.600 --> 0:18:18.280 over his head. I don't know the character. 0:18:18.040 --> 0:18:21.919 That can describing E or is that ere either welln't 0:18:21.920 --> 0:18:23.520 even winning the Pooh whatever, I don't. 0:18:23.680 --> 0:18:24.040 I don't know. 0:18:24.080 --> 0:18:26.080 I know right one of these characters, I'm a most 0:18:26.119 --> 0:18:27.800 positive in Charlie Brown that walks around with like a 0:18:27.800 --> 0:18:29.359 cloud over his head. But I feel like it's a 0:18:29.359 --> 0:18:31.960 cloud of dirt either way. There's a sadness cloud that 0:18:32.040 --> 0:18:35.879 there's an anxiety cloud that I will live with because 0:18:35.880 --> 0:18:38.640 I'm trying to avoid having, you know, the hard conversations. 0:18:38.960 --> 0:18:41.560 And I am now finally saying I don't want to 0:18:41.560 --> 0:18:42.200 live with that cloud. 0:18:42.240 --> 0:18:43.119 No, I'm all, I don't what. 0:18:44.600 --> 0:18:48.119 And so I've been it feels so good like she 0:18:48.200 --> 0:18:50.679 gave me a really good activity and this is for 0:18:50.720 --> 0:18:52.840 you to try as well. Well you don't have the 0:18:52.840 --> 0:18:55.920 hard trouble with the hard conversations. But one of the 0:18:55.920 --> 0:18:58.600 things she said, she said, how do you feel now 0:18:59.160 --> 0:19:01.920