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Uh time flies man, So yeah, we want 19 00:01:28,959 --> 00:01:31,440 Speaker 2: to first first of all, thank you guys for rocking 20 00:01:31,440 --> 00:01:33,520 Speaker 2: with us and you know we appreciate your feedback. Thank 21 00:01:33,520 --> 00:01:36,800 Speaker 2: you for your support means a lot to us. So 22 00:01:36,840 --> 00:01:39,959 Speaker 2: we're gonna jump right into it. We have a few 23 00:01:40,000 --> 00:01:42,600 Speaker 2: things that we're gonna talk about this episode. The first 24 00:01:42,640 --> 00:01:44,920 Speaker 2: thing that we're gonna talk about is streaming, but on 25 00:01:44,959 --> 00:01:47,400 Speaker 2: a different on a different level. You know, we've covered 26 00:01:47,400 --> 00:01:50,120 Speaker 2: streaming before, but on the musical side, So now we 27 00:01:50,200 --> 00:01:51,920 Speaker 2: want to we want to cover it on the content 28 00:01:52,040 --> 00:01:56,040 Speaker 2: side and talk about two major players in the streaming 29 00:01:56,120 --> 00:02:00,160 Speaker 2: game as far as shows and movies are concerned, and 30 00:02:00,200 --> 00:02:02,280 Speaker 2: that is Netflix and Amazon. 31 00:02:02,440 --> 00:02:02,680 Speaker 3: Yeah. 32 00:02:02,920 --> 00:02:05,400 Speaker 4: I mean, we reference them so much that it's only 33 00:02:05,920 --> 00:02:07,880 Speaker 4: right that we take a look at the business side. 34 00:02:08,080 --> 00:02:09,680 Speaker 2: Yeah, for sure. So, yeah, we talk about We talk 35 00:02:09,720 --> 00:02:14,280 Speaker 2: about Netflix a lot because obviously it's revolutionized the way 36 00:02:14,320 --> 00:02:16,600 Speaker 2: that we consume television. 37 00:02:16,960 --> 00:02:21,919 Speaker 4: You know, it's well more so original programming, because TV 38 00:02:22,880 --> 00:02:24,839 Speaker 4: that would be we're going to get into that too, 39 00:02:24,919 --> 00:02:27,040 Speaker 4: but Hulu would be more of a television side, but 40 00:02:27,240 --> 00:02:30,440 Speaker 4: movies and original content would be like a Netflix, right right. 41 00:02:30,320 --> 00:02:32,280 Speaker 2: So we wanted to talk about it from a different 42 00:02:32,320 --> 00:02:36,600 Speaker 2: standpoint though, because I want to kind of compare Netflix 43 00:02:37,760 --> 00:02:41,000 Speaker 2: versus Amazon on the business side. I actually wrote about 44 00:02:41,040 --> 00:02:43,200 Speaker 2: this on my Instagram a while back, but I wanted 45 00:02:43,200 --> 00:02:45,880 Speaker 2: to go into depth about it because I don't think 46 00:02:45,919 --> 00:02:50,560 Speaker 2: people fully understand the fight that's going on right now. 47 00:02:50,600 --> 00:02:52,320 Speaker 2: To me, it's interesting we try to take a different 48 00:02:52,320 --> 00:02:54,760 Speaker 2: approach on business and look at things from a different standpoint, 49 00:02:54,800 --> 00:02:57,400 Speaker 2: not just report what's going on, but look at it 50 00:02:57,440 --> 00:03:00,440 Speaker 2: from case studies, or look at it from the back stories, 51 00:03:00,520 --> 00:03:03,079 Speaker 2: or look at it from in house fights and stuff 52 00:03:03,120 --> 00:03:05,320 Speaker 2: like that. So there's a big fight going on right 53 00:03:05,320 --> 00:03:07,840 Speaker 2: now between Amazon and Netflix. And just to kind of 54 00:03:07,840 --> 00:03:11,720 Speaker 2: give you a quick summary, Netflix, you know, was soaring. 55 00:03:12,160 --> 00:03:15,639 Speaker 2: Their stock was up one hundred and six percent midway 56 00:03:15,639 --> 00:03:18,240 Speaker 2: through last year in June, and then after that it 57 00:03:18,320 --> 00:03:20,400 Speaker 2: really started to tank. It was down thirty seven percent 58 00:03:20,440 --> 00:03:23,679 Speaker 2: to end the year. So, long story short, a lot 59 00:03:24,000 --> 00:03:26,560 Speaker 2: they have a lot of different issues Netflix, but one 60 00:03:26,600 --> 00:03:29,240 Speaker 2: of the main issues is that Amazon is coming in 61 00:03:29,600 --> 00:03:31,440 Speaker 2: and they're putting a lot of pressure on them. 62 00:03:31,520 --> 00:03:33,840 Speaker 3: Yeah. Well Amazon is notorious for that. 63 00:03:33,840 --> 00:03:36,000 Speaker 4: They see somebody's making money up down the street and 64 00:03:36,000 --> 00:03:38,120 Speaker 4: they're like, all right, we got to figure out how 65 00:03:38,120 --> 00:03:40,640 Speaker 4: we're en this, and usually we'll get into that is 66 00:03:40,720 --> 00:03:43,240 Speaker 4: when they come into a space, they take over and 67 00:03:43,280 --> 00:03:44,000 Speaker 4: dominate the space. 68 00:03:44,120 --> 00:03:44,320 Speaker 3: Yeah. 69 00:03:44,440 --> 00:03:47,640 Speaker 2: Yeah, the major players for sure. So last year Amazon 70 00:03:47,880 --> 00:03:51,880 Speaker 2: spent five billion dollars on their original content for their 71 00:03:51,880 --> 00:03:55,320 Speaker 2: streaming service. Right, So what that did was that made 72 00:03:55,440 --> 00:03:58,400 Speaker 2: Netflix up there spending. So they up there spending from 73 00:03:58,400 --> 00:04:01,440 Speaker 2: eight billion to twelve billion. So the problem with that 74 00:04:01,520 --> 00:04:05,480 Speaker 2: now is that Netflix now spends more money on original 75 00:04:05,480 --> 00:04:08,000 Speaker 2: content than any other American television network. 76 00:04:08,120 --> 00:04:10,800 Speaker 4: And they've seen some benefits from it, like their shows 77 00:04:11,160 --> 00:04:16,560 Speaker 4: have been well received, you know, Narcos and a couple 78 00:04:16,600 --> 00:04:19,840 Speaker 4: of other things making up a Murderer. They've had great 79 00:04:19,839 --> 00:04:23,400 Speaker 4: original content, whereas Amazon thus far has struggled with gain 80 00:04:23,520 --> 00:04:24,640 Speaker 4: traction on some of this stuff. 81 00:04:24,760 --> 00:04:27,400 Speaker 2: Yeah, so yeah, exactly. So you have Ozarks, you have 82 00:04:29,080 --> 00:04:34,000 Speaker 2: you have Narcos, You have a lot of hit shows 83 00:04:34,520 --> 00:04:38,359 Speaker 2: that are popular that our original Netflix shows, right, And 84 00:04:38,400 --> 00:04:40,640 Speaker 2: like you said, Amazon, I don't think they really have 85 00:04:40,760 --> 00:04:42,159 Speaker 2: that one show. 86 00:04:42,240 --> 00:04:43,560 Speaker 3: They haven't had a stand up they. 87 00:04:43,480 --> 00:04:46,279 Speaker 2: Hang their hat on yet. But I think their strategy 88 00:04:46,320 --> 00:04:48,200 Speaker 2: is more of the long game. So what they're doing 89 00:04:48,279 --> 00:04:50,760 Speaker 2: is so as I said, they put they so they 90 00:04:50,800 --> 00:04:54,000 Speaker 2: spent five billion last year, right, So that made Netflix 91 00:04:54,080 --> 00:04:56,240 Speaker 2: raise their spending from eight billion to twelve billions just 92 00:04:56,320 --> 00:04:58,800 Speaker 2: to compete. So by spending twelve billion now now they 93 00:04:58,800 --> 00:05:03,320 Speaker 2: spend more on content than any other American television network. 94 00:05:03,360 --> 00:05:06,560 Speaker 2: Anybody ABC, NBC doesn't matter anybody. They spend the most. 95 00:05:06,760 --> 00:05:09,800 Speaker 2: But the problem with that is that they work it 96 00:05:09,839 --> 00:05:12,679 Speaker 2: on very thin margins, right, so they make very small 97 00:05:12,720 --> 00:05:15,560 Speaker 2: profit because they're heavily leveraged. So they have a lot 98 00:05:15,600 --> 00:05:17,360 Speaker 2: of debt, huge amount of debt. So last year that 99 00:05:17,440 --> 00:05:21,000 Speaker 2: debt went up seventy one percent, right, So right now 100 00:05:21,000 --> 00:05:23,760 Speaker 2: they have eight point three billion dollars in debt, right, 101 00:05:23,839 --> 00:05:27,960 Speaker 2: So the problem is that going forward they can't sustain that. 102 00:05:28,000 --> 00:05:30,240 Speaker 2: It's not sustainable. So one or two things that are 103 00:05:30,279 --> 00:05:32,800 Speaker 2: gonna happen. They're going to keep borrowing billions of dollars 104 00:05:32,800 --> 00:05:36,240 Speaker 2: and eventually they run the risk of going to bankruptcy 105 00:05:36,440 --> 00:05:39,880 Speaker 2: or they raise subscription prices, which they actually already did. 106 00:05:40,080 --> 00:05:44,159 Speaker 4: Yeah, Like they went from twelve dollars to sixteen dollars 107 00:05:44,279 --> 00:05:46,200 Speaker 4: depending on your package. So if you've got the four K, 108 00:05:46,640 --> 00:05:49,919 Speaker 4: it was sixteen dollars. If with that you can have 109 00:05:50,000 --> 00:05:53,160 Speaker 4: four people sharing your account, it's like they lose money 110 00:05:53,200 --> 00:05:56,120 Speaker 4: on that too, right, So like we have like I 111 00:05:56,200 --> 00:05:58,599 Speaker 4: have an account, but there's like a few people that 112 00:05:58,720 --> 00:06:01,440 Speaker 4: use it, right, and so those people that use my 113 00:06:01,520 --> 00:06:04,799 Speaker 4: account now are not paid subscribers. So that's an issue 114 00:06:04,800 --> 00:06:06,560 Speaker 4: that they've been combatant. But I'm just want to go 115 00:06:06,680 --> 00:06:08,520 Speaker 4: back for a second because you said something that. 116 00:06:08,560 --> 00:06:09,840 Speaker 3: Was really interesting about Amazon. 117 00:06:10,480 --> 00:06:13,680 Speaker 4: One of their models and he Beosos wrote this in 118 00:06:13,720 --> 00:06:17,480 Speaker 4: his nineteen ninety seven like letter, Jeff Bails. I'm sorry, 119 00:06:17,560 --> 00:06:19,679 Speaker 4: Jeff Bayals said it in the opening of his company, 120 00:06:19,720 --> 00:06:22,680 Speaker 4: is that they will They are about long term game. 121 00:06:23,160 --> 00:06:26,480 Speaker 4: They really don't care about short term profit or loss. 122 00:06:26,720 --> 00:06:28,920 Speaker 4: And we're going to see how that plays it apart 123 00:06:28,960 --> 00:06:32,440 Speaker 4: in a company in a few minutes. But like, that's 124 00:06:32,440 --> 00:06:35,720 Speaker 4: exactly what's happening now, right, we'll play this game with y'all. 125 00:06:35,760 --> 00:06:36,760 Speaker 3: But I know that y'all to. 126 00:06:36,720 --> 00:06:39,200 Speaker 2: Think about Amazon, it's the third biggest publicly traded company 127 00:06:39,200 --> 00:06:42,080 Speaker 2: in the world, so they have a lot more resources 128 00:06:42,120 --> 00:06:45,159 Speaker 2: and a lot more funding to, like you said, play 129 00:06:45,200 --> 00:06:47,960 Speaker 2: the long game, right. They don't have to win this year, 130 00:06:48,400 --> 00:06:50,240 Speaker 2: or even next year, even five years down the line. 131 00:06:50,240 --> 00:06:52,600 Speaker 2: They can stretch it out for a long period of time. 132 00:06:53,120 --> 00:06:57,040 Speaker 2: And if Netflix can't find a way to raise revenue 133 00:06:57,520 --> 00:07:00,679 Speaker 2: at a faster pace, then they to be screw. 134 00:07:00,640 --> 00:07:02,560 Speaker 4: Because stream is just a part of their business, like 135 00:07:02,600 --> 00:07:06,120 Speaker 4: that cloud service iseah Amazon revenue. 136 00:07:06,000 --> 00:07:10,800 Speaker 2: Yeah exactly. And then the last one that Netflix has 137 00:07:10,880 --> 00:07:13,720 Speaker 2: to try to combat this is that they can cut content, 138 00:07:14,200 --> 00:07:18,440 Speaker 2: so that would save the money, but that'll also compromise 139 00:07:19,400 --> 00:07:21,960 Speaker 2: who they are, Like they're known for original content. That's 140 00:07:21,960 --> 00:07:25,440 Speaker 2: why they spend so much money on content. So they 141 00:07:25,480 --> 00:07:29,560 Speaker 2: have some issues, right. The debt is a major problem 142 00:07:29,600 --> 00:07:32,320 Speaker 2: for them, and we have to see how it plays out. 143 00:07:32,320 --> 00:07:36,160 Speaker 2: But it's interesting because Amazon Actually somebody said this to me, 144 00:07:36,280 --> 00:07:37,880 Speaker 2: and it's true if you think about it. I'm not 145 00:07:37,920 --> 00:07:43,480 Speaker 2: sure why Jeff Bezos named the company Amazon, but if 146 00:07:43,520 --> 00:07:48,120 Speaker 2: you think about it, Amazon is the name Amazon means massive, huge, 147 00:07:48,160 --> 00:07:51,640 Speaker 2: like the Amazon rainforest, you know. So that's really what 148 00:07:52,800 --> 00:07:56,080 Speaker 2: the company has become, right. They're such a massive company 149 00:07:56,080 --> 00:07:59,200 Speaker 2: that they they're willing to just spend massive amounts of 150 00:07:59,240 --> 00:08:03,640 Speaker 2: money take over all the areas, right, whether it's shipping, 151 00:08:04,040 --> 00:08:07,800 Speaker 2: whether it's books, whether now it's content. So that's really 152 00:08:07,800 --> 00:08:13,600 Speaker 2: what they've become. They've become just the abominal snowmen. You 153 00:08:13,640 --> 00:08:14,320 Speaker 2: can't stop them. 154 00:08:14,320 --> 00:08:16,040 Speaker 3: It's like the big bully in business right now. 155 00:08:17,280 --> 00:08:20,560 Speaker 4: And one of the companies that often gets left out 156 00:08:20,600 --> 00:08:24,120 Speaker 4: sometimes in the streaming is Hulu. Obviously they don't generate 157 00:08:24,120 --> 00:08:26,600 Speaker 4: as much money as Netflix. I think last say, they 158 00:08:26,600 --> 00:08:29,680 Speaker 4: did eight point seven billion dollars. But they have a 159 00:08:29,800 --> 00:08:32,720 Speaker 4: very interesting story. So Hulu for those are not familiar, 160 00:08:33,120 --> 00:08:36,120 Speaker 4: they do offer original content, and some of the original 161 00:08:36,120 --> 00:08:38,679 Speaker 4: content is really good, Like The Handsmaid's Tale is probably 162 00:08:38,720 --> 00:08:39,680 Speaker 4: the most popular show. 163 00:08:40,360 --> 00:08:44,360 Speaker 3: It's won plenty of awards for the acting in it. 164 00:08:44,720 --> 00:08:50,520 Speaker 4: But they have live TV, which the other platforms don't 165 00:08:50,559 --> 00:08:52,760 Speaker 4: really offer. Right, they can perform a lot. They have 166 00:08:52,920 --> 00:08:55,720 Speaker 4: fifty channels. If you pay for their subscription, there's au 167 00:08:55,720 --> 00:08:58,360 Speaker 4: premium subscription. I think it's like forty dollars. But what 168 00:08:58,440 --> 00:09:01,320 Speaker 4: they do is to combat Netflix, who can't put on 169 00:09:01,640 --> 00:09:03,720 Speaker 4: content that just happened. So like if you wanted to 170 00:09:03,760 --> 00:09:07,120 Speaker 4: watch Power, you have to wait for that season to 171 00:09:07,120 --> 00:09:08,840 Speaker 4: be over for it to even get to Netflix. 172 00:09:09,240 --> 00:09:12,080 Speaker 3: They do it the next day, so they have that advantage. 173 00:09:12,080 --> 00:09:15,680 Speaker 4: But one other thing that we looked at and studying 174 00:09:15,840 --> 00:09:17,880 Speaker 4: Hulu is that and I looked at. 175 00:09:17,760 --> 00:09:19,120 Speaker 3: Who owns it. 176 00:09:19,120 --> 00:09:23,280 Speaker 4: It's split up between four companies, right, so Disney owns 177 00:09:23,320 --> 00:09:28,440 Speaker 4: thirty percent, twenty first Century Fox owns twenty thirty percent, 178 00:09:28,840 --> 00:09:31,200 Speaker 4: you have Comcasts that owns thirty percent, and I think 179 00:09:31,200 --> 00:09:33,280 Speaker 4: Time Warner owns about ten percent. So you got one 180 00:09:33,320 --> 00:09:36,520 Speaker 4: hundred percent of the company owned by four majority companies. 181 00:09:36,640 --> 00:09:36,840 Speaker 3: Right. 182 00:09:37,160 --> 00:09:39,280 Speaker 4: The interesting thing about that is that Disney's going to 183 00:09:39,280 --> 00:09:41,240 Speaker 4: have its own streaming service too. So like if Netflix 184 00:09:41,240 --> 00:09:43,600 Speaker 4: thought that Amazon was the problem, they have a big 185 00:09:43,640 --> 00:09:47,000 Speaker 4: problem coming their way because Disney is about to take 186 00:09:47,040 --> 00:09:49,240 Speaker 4: all their content, all of Netflix, right, So now they 187 00:09:49,320 --> 00:09:53,040 Speaker 4: have they have the Marvel catalog, they have all their 188 00:09:53,080 --> 00:09:59,320 Speaker 4: Disney catalog, they have Star Wars catalog. But they just 189 00:10:00,240 --> 00:10:02,360 Speaker 4: are about to close on a deal I think the 190 00:10:02,400 --> 00:10:06,080 Speaker 4: top of the first maybe sometimes this quarter, to acquire 191 00:10:06,080 --> 00:10:06,839 Speaker 4: twenty fourth Century. 192 00:10:07,000 --> 00:10:09,400 Speaker 2: Well, the interesting thing also is that now Apple's getting 193 00:10:09,400 --> 00:10:12,800 Speaker 2: in the streaming game. Yeah, so Apple this year they're 194 00:10:12,800 --> 00:10:19,199 Speaker 2: gonna put as out a billion dollars to their new 195 00:10:19,200 --> 00:10:24,800 Speaker 2: streaming service. So Apple's interesting because Apple a lot of people. 196 00:10:24,880 --> 00:10:27,720 Speaker 2: Majority of people have iPhones, right, and the way we're 197 00:10:27,720 --> 00:10:32,280 Speaker 2: consuming content now is more and more on our mobile 198 00:10:32,280 --> 00:10:35,079 Speaker 2: devices and not on television. So if you now they 199 00:10:35,120 --> 00:10:38,160 Speaker 2: have a unique advantage because it's going to be free. 200 00:10:38,440 --> 00:10:41,679 Speaker 2: They probably factor in the court somewhere in the phone, 201 00:10:41,720 --> 00:10:44,160 Speaker 2: but it's going to be free. Everybody's gonna have it 202 00:10:44,200 --> 00:10:48,480 Speaker 2: on their phone, right, like iTunes something like that. So 203 00:10:48,600 --> 00:10:51,720 Speaker 2: now like how you watch YouTube on your phone, you'll 204 00:10:51,760 --> 00:10:54,240 Speaker 2: be able to watch the Apple streaming on your phone. 205 00:10:54,280 --> 00:10:56,560 Speaker 2: So they'll have shows that they just gave Kevin Durant 206 00:10:56,840 --> 00:10:58,480 Speaker 2: some money for a show that he's gonna put out. 207 00:10:58,520 --> 00:11:02,560 Speaker 2: So they're putting more into into different shows, original content. 208 00:11:02,679 --> 00:11:04,760 Speaker 2: But the advantage that they have, like I said, they 209 00:11:04,800 --> 00:11:07,680 Speaker 2: already have the platform. 210 00:11:07,240 --> 00:11:07,960 Speaker 3: Billions of users. 211 00:11:08,000 --> 00:11:10,640 Speaker 2: Yeah, they already have the billions of people that already 212 00:11:10,679 --> 00:11:14,160 Speaker 2: have iPhones and iPads already. So now when they put 213 00:11:14,200 --> 00:11:18,520 Speaker 2: the content directly on your phone, it even makes it 214 00:11:18,559 --> 00:11:21,400 Speaker 2: easier easier to consume because now you don't have to 215 00:11:21,440 --> 00:11:23,400 Speaker 2: go to the app, or you don't have to you know, 216 00:11:23,480 --> 00:11:24,720 Speaker 2: I mean you have an app, but the app is 217 00:11:24,720 --> 00:11:26,439 Speaker 2: already on your phone. It's not something that you even 218 00:11:26,480 --> 00:11:27,079 Speaker 2: have to download. 219 00:11:27,160 --> 00:11:30,480 Speaker 4: So so I mean, those are two major competitors that 220 00:11:30,520 --> 00:11:32,559 Speaker 4: are coming in this lane and within the next year 221 00:11:32,640 --> 00:11:35,600 Speaker 4: or so. Right, because if Disney goes through with that, 222 00:11:35,760 --> 00:11:38,160 Speaker 4: I think seventy one billion dollar purchase of twenty first 223 00:11:38,160 --> 00:11:39,119 Speaker 4: century Fox. 224 00:11:39,280 --> 00:11:41,120 Speaker 3: Of film and TV division. 225 00:11:41,920 --> 00:11:46,080 Speaker 4: Now they own sixty percent of Hulu, right, that's number 226 00:11:46,120 --> 00:11:48,720 Speaker 4: three in the streaming service. They own sixty percent of that, 227 00:11:48,800 --> 00:11:51,120 Speaker 4: plus they're going to bring their own content. I mean, 228 00:11:51,880 --> 00:11:53,239 Speaker 4: that's a goliath. 229 00:11:53,800 --> 00:11:58,160 Speaker 2: Yeah, and it's important too for people that you know 230 00:11:58,320 --> 00:12:02,679 Speaker 2: are creators, is that right now is a brilliant time 231 00:12:03,280 --> 00:12:06,400 Speaker 2: to get funding in your programs, right, because it's a 232 00:12:06,480 --> 00:12:10,400 Speaker 2: race shows. So you have all of these different companies 233 00:12:10,400 --> 00:12:13,320 Speaker 2: that are spending massive amounts of money and they're looking 234 00:12:13,440 --> 00:12:14,600 Speaker 2: for original content. 235 00:12:15,160 --> 00:12:17,640 Speaker 4: So like you even that, like some of them are 236 00:12:17,760 --> 00:12:21,320 Speaker 4: catered toward kids, right, and then some are catered toward 237 00:12:21,520 --> 00:12:23,400 Speaker 4: the adult population and middle aged people. 238 00:12:23,440 --> 00:12:25,080 Speaker 3: So it's going to be an arms race. 239 00:12:25,120 --> 00:12:27,280 Speaker 4: But one of the interesting things that we the fact 240 00:12:27,280 --> 00:12:30,880 Speaker 4: that we even have this conversation is that people are 241 00:12:30,920 --> 00:12:34,160 Speaker 4: not doing cable service anymore, Like people have cut the cord, 242 00:12:34,280 --> 00:12:36,440 Speaker 4: and like these are the results of that. We can 243 00:12:36,480 --> 00:12:40,319 Speaker 4: see that, like these companies are existing because people have decided, listen, 244 00:12:40,760 --> 00:12:42,800 Speaker 4: one hundred and sixty dollars a month for me to 245 00:12:42,800 --> 00:12:46,120 Speaker 4: watch five to ten channels, it's just not worth it anymore. So, right, 246 00:12:46,440 --> 00:12:50,680 Speaker 4: So then HBO has their own streaming service, Showtime gets 247 00:12:50,679 --> 00:12:53,200 Speaker 4: their own streaming service. Right, you can subscribe just to 248 00:12:53,240 --> 00:12:55,240 Speaker 4: those things now you don't even have to go through 249 00:12:55,640 --> 00:12:59,120 Speaker 4: cable vision over rising now, So like that's a result 250 00:12:59,200 --> 00:13:01,400 Speaker 4: of cord cutting that this conversation in itself. 251 00:13:02,480 --> 00:13:05,520 Speaker 2: Yeah, yeah, the landscape has changed. Just like I said, 252 00:13:05,840 --> 00:13:09,120 Speaker 2: we talked about music. Music landscape has changed, but also 253 00:13:09,760 --> 00:13:14,240 Speaker 2: television TV landscape has changed and probably will continue to 254 00:13:14,280 --> 00:13:14,720 Speaker 2: be changed. 255 00:13:14,760 --> 00:13:16,079 Speaker 4: I mean, you're not a big TV guy, but like, 256 00:13:16,120 --> 00:13:18,120 Speaker 4: how many channels do you watch when you are watching TV? 257 00:13:18,559 --> 00:13:21,200 Speaker 2: Yeah, I don't watch that. I watched sports ESPN. 258 00:13:21,320 --> 00:13:24,440 Speaker 4: Like I watched maybe four channels and I pay for 259 00:13:24,800 --> 00:13:25,960 Speaker 4: seven hundred of them. 260 00:13:26,280 --> 00:13:28,160 Speaker 3: Right, So like this is this is the way. This 261 00:13:28,200 --> 00:13:29,760 Speaker 3: is going to be the way of the future obviously. 262 00:13:30,760 --> 00:13:36,040 Speaker 2: Yeah, okay, okay, all right, So anymore to add about that. 263 00:13:36,160 --> 00:13:39,160 Speaker 4: Or yeah, I mean, let's let's say with Amazon, because 264 00:13:39,600 --> 00:13:42,160 Speaker 4: something that's happening, especially in our area right now, is 265 00:13:42,240 --> 00:13:46,360 Speaker 4: people are starting to realize that this Amazon effect and 266 00:13:46,640 --> 00:13:48,959 Speaker 4: what that really is is just like like you said, 267 00:13:49,040 --> 00:13:53,560 Speaker 4: like they encompass everything. So the Amazon effect really just 268 00:13:53,640 --> 00:13:57,640 Speaker 4: means a complete domination or disruption of a market. 269 00:13:57,760 --> 00:14:02,840 Speaker 3: And we've seen them do this and companies have disappeared. 270 00:14:03,400 --> 00:14:06,199 Speaker 4: I'll get you there's an example of in twenty ten 271 00:14:06,600 --> 00:14:09,920 Speaker 4: and your father, I'm a father, there was a company 272 00:14:09,920 --> 00:14:11,079 Speaker 4: called diapers dot com. 273 00:14:11,360 --> 00:14:11,960 Speaker 3: Yeah heard of them? 274 00:14:12,559 --> 00:14:15,280 Speaker 4: No, I know, So diapers dot com pretty much was 275 00:14:15,320 --> 00:14:19,880 Speaker 4: an online site to help parents you order deliver pampas 276 00:14:19,920 --> 00:14:22,960 Speaker 4: to your house, and Amazon decided, hey, we want to 277 00:14:22,960 --> 00:14:23,560 Speaker 4: get in this game. 278 00:14:23,720 --> 00:14:24,680 Speaker 3: We're getting in this game. 279 00:14:25,160 --> 00:14:29,600 Speaker 4: So they decided to have Amazon Mom and their subscription 280 00:14:29,880 --> 00:14:32,760 Speaker 4: was if you join Amazon Mom, you get Amazon Prime 281 00:14:33,080 --> 00:14:36,080 Speaker 4: free for three months, plus discounted prices. So like, if 282 00:14:36,120 --> 00:14:38,960 Speaker 4: you know Prime, I'm a Prime member, you get free 283 00:14:38,960 --> 00:14:42,840 Speaker 4: two day shipping and you're getting discounted on the on 284 00:14:43,360 --> 00:14:46,280 Speaker 4: what you're ordering. Right, so whatever whatever Baby supplies it as, 285 00:14:46,360 --> 00:14:48,600 Speaker 4: let's just say there's diapers, you're getting discounted. So it 286 00:14:48,640 --> 00:14:50,880 Speaker 4: was maybe forty dollars a bucks now it's maybe twenty 287 00:14:50,880 --> 00:14:54,960 Speaker 4: five dollars a box. They did that to just combat 288 00:14:54,960 --> 00:14:57,400 Speaker 4: with diapers dot Com was doing and they saw that 289 00:14:57,480 --> 00:14:59,720 Speaker 4: they were losing money by doing it. But while they 290 00:14:59,760 --> 00:15:02,080 Speaker 4: were lo and money, Typers dot Com losing money too 291 00:15:02,400 --> 00:15:06,640 Speaker 4: because two things that parents always look for affordability and accessibility. 292 00:15:06,880 --> 00:15:08,320 Speaker 4: Is it going to be affordable for me to get 293 00:15:08,320 --> 00:15:11,400 Speaker 4: these pampers. Yeah, it's fifteen dollars cheaper and it gets 294 00:15:11,400 --> 00:15:13,200 Speaker 4: delivered directly to my home in two days. 295 00:15:13,480 --> 00:15:16,920 Speaker 3: I'm taking that route. So they lost money, right, but 296 00:15:17,000 --> 00:15:19,440 Speaker 3: in the end, Typers dot com get shut down. Guess 297 00:15:19,480 --> 00:15:21,440 Speaker 3: who buys them? 298 00:15:21,240 --> 00:15:26,080 Speaker 4: Amazon buys them out goodbye, Right, So like just completely 299 00:15:26,120 --> 00:15:30,320 Speaker 4: come into a space, take a loss, right, but then 300 00:15:30,400 --> 00:15:32,280 Speaker 4: all right, we'll buy you, thank you, We'll take it. 301 00:15:32,680 --> 00:15:36,720 Speaker 2: Like I watched the Nature Channel sometimes and one of 302 00:15:36,760 --> 00:15:40,040 Speaker 2: these animals, I think it's either a crocodile or an alligator, 303 00:15:40,160 --> 00:15:43,840 Speaker 2: maybe both. But how they kill their prey is that 304 00:15:44,480 --> 00:15:47,600 Speaker 2: they smother them and then they drag them into the 305 00:15:47,720 --> 00:15:51,360 Speaker 2: road and they just keep going deeper and deeper soil. 306 00:15:51,400 --> 00:15:54,000 Speaker 2: You can't breathe anymore. Right, And that's pretty much the 307 00:15:54,000 --> 00:15:57,120 Speaker 2: business strategy that Amazon is doing, right. It just yeah, 308 00:15:57,400 --> 00:16:00,160 Speaker 2: take you out further and further into the deepen. You 309 00:16:00,160 --> 00:16:02,120 Speaker 2: can't breathe anymore, and eventually you're going to have to 310 00:16:02,160 --> 00:16:03,840 Speaker 2: just give up. Yeah, we'll take it over for a minute. 311 00:16:03,880 --> 00:16:06,960 Speaker 2: But they so they try that again in the home 312 00:16:07,280 --> 00:16:08,240 Speaker 2: home service. 313 00:16:09,400 --> 00:16:13,040 Speaker 4: Market, Like there was a company called Porch and they 314 00:16:13,040 --> 00:16:14,080 Speaker 4: were deciding. 315 00:16:13,720 --> 00:16:15,400 Speaker 3: Hey, people needed help doing things. 316 00:16:15,440 --> 00:16:18,040 Speaker 4: If you needed plumbing, if you needed lighting, if you 317 00:16:18,160 --> 00:16:21,760 Speaker 4: needed anything fixing your home TV mountains. They were providing 318 00:16:21,760 --> 00:16:24,360 Speaker 4: that service. Amazon saw that and said, you know what, 319 00:16:25,160 --> 00:16:29,000 Speaker 4: We're going to provide home service. Right, So rather than 320 00:16:29,080 --> 00:16:33,280 Speaker 4: folding like diapers dot Com did. Porchs decided the only 321 00:16:33,280 --> 00:16:35,680 Speaker 4: way we're gonna survive is to try to compete with them, 322 00:16:36,080 --> 00:16:37,960 Speaker 4: just for the short term. So what they did was, 323 00:16:38,120 --> 00:16:41,160 Speaker 4: you know what, we'll go to your competitor. So they decided, Hey, 324 00:16:41,200 --> 00:16:42,960 Speaker 4: we're going to go to home Depot, We're gonna go 325 00:16:43,000 --> 00:16:45,280 Speaker 4: to Lows and we'll partner with them, and that's how 326 00:16:45,320 --> 00:16:48,920 Speaker 4: we'll keep our business going. So that's another way like, hey, 327 00:16:49,080 --> 00:16:51,840 Speaker 4: rather than just folding short term, let's just keep afloat 328 00:16:52,200 --> 00:16:54,800 Speaker 4: until they just say, you know what, you're. 329 00:16:54,720 --> 00:16:59,000 Speaker 3: Drowning and you have an other choice. Yeah, it's interesting. 330 00:17:00,040 --> 00:17:03,640 Speaker 3: Amazon's in the news now in our area because most 331 00:17:03,680 --> 00:17:05,080 Speaker 3: people know and if you don't. 332 00:17:05,240 --> 00:17:07,960 Speaker 4: They're looking for a second headquarter and they chose two 333 00:17:08,000 --> 00:17:13,200 Speaker 4: cities and New York City was one and Virginia Crystal City, Virginia, 334 00:17:13,200 --> 00:17:17,200 Speaker 4: which is the DC metro area. Yeah, and it's interesting 335 00:17:17,280 --> 00:17:20,520 Speaker 4: because Long Island City is where it's going to be. 336 00:17:21,040 --> 00:17:23,520 Speaker 4: And when people think Long Island City, they probably think 337 00:17:23,560 --> 00:17:26,399 Speaker 4: that is out in Long Island, and we know that 338 00:17:26,440 --> 00:17:27,159 Speaker 4: it's in Queens. 339 00:17:27,600 --> 00:17:29,440 Speaker 3: So this facility is going to be built in Long 340 00:17:29,440 --> 00:17:30,040 Speaker 3: Island City. 341 00:17:30,480 --> 00:17:33,879 Speaker 4: But the interesting thing about it is that Long Island 342 00:17:33,920 --> 00:17:35,760 Speaker 4: City where the site. 343 00:17:35,640 --> 00:17:37,600 Speaker 3: Is going to the construction is going to take place 344 00:17:37,760 --> 00:17:38,440 Speaker 3: if it goes. 345 00:17:38,240 --> 00:17:41,399 Speaker 4: Through, is one down, one mile down the road from 346 00:17:41,440 --> 00:17:43,920 Speaker 4: a place we know very well in hip hop music. 347 00:17:44,280 --> 00:17:47,479 Speaker 2: Yeah probably not even well. No Long Island City all right, 348 00:17:47,520 --> 00:17:52,680 Speaker 2: so Queensbridge Project the biggest housing projects in North America 349 00:17:52,800 --> 00:17:59,639 Speaker 2: right home of legendary rappers Na Nas, Mob Deep, Molly 350 00:17:59,720 --> 00:18:12,400 Speaker 2: Ma Pamega and then also run our test yes so yeah, 351 00:18:12,480 --> 00:18:15,040 Speaker 2: so a lot of it's been a lot of backlash 352 00:18:15,119 --> 00:18:19,960 Speaker 2: that that will lead to further gentrification of the area. 353 00:18:20,200 --> 00:18:23,840 Speaker 2: Change it, But Long Island City is already gentified if 354 00:18:23,880 --> 00:18:27,439 Speaker 2: you know the area. It's an interesting case study that 355 00:18:27,480 --> 00:18:31,000 Speaker 2: we actually have a whole different discussion about that certification 356 00:18:31,240 --> 00:18:35,240 Speaker 2: and real estate and things of that nature. But not 357 00:18:35,359 --> 00:18:37,520 Speaker 2: to stay on this topic for too long, but that's 358 00:18:37,560 --> 00:18:42,000 Speaker 2: an interesting case study within itself, because you know, I 359 00:18:42,080 --> 00:18:45,040 Speaker 2: travel and I see different places, not just in New 360 00:18:45,119 --> 00:18:46,600 Speaker 2: York but all over the world where. 361 00:18:46,440 --> 00:18:48,640 Speaker 3: A lot ernest what's up. 362 00:18:48,720 --> 00:18:51,199 Speaker 4: You ever walk into a small business and everything just 363 00:18:51,359 --> 00:18:54,520 Speaker 4: works like the checkout is fast, the seats are digital, 364 00:18:55,040 --> 00:18:58,040 Speaker 4: tipping is a breeze, and you're out the door before 365 00:18:58,040 --> 00:19:02,199 Speaker 4: the line even builds odds are they're using Square. We 366 00:19:02,359 --> 00:19:04,879 Speaker 4: love supporting businesses that run on Square because it just 367 00:19:04,920 --> 00:19:08,120 Speaker 4: feels seamless. Whether it's a local coffee shop, a vendor 368 00:19:08,200 --> 00:19:10,480 Speaker 4: at a pop up market, or even one of our 369 00:19:10,520 --> 00:19:14,200 Speaker 4: merch partners, Square makes it easy for them to take payments, 370 00:19:14,400 --> 00:19:18,080 Speaker 4: manage inventory, and run their business with confidence, all from 371 00:19:18,240 --> 00:19:21,639 Speaker 4: one simple system. If you're a business owner or even 372 00:19:21,720 --> 00:19:25,240 Speaker 4: just thinking about launching something soon, Square is hands down 373 00:19:25,280 --> 00:19:27,640 Speaker 4: one of the best tools out there to help you start, 374 00:19:28,000 --> 00:19:31,560 Speaker 4: run and grow. It's not just about payments, it's about 375 00:19:31,600 --> 00:19:33,960 Speaker 4: giving you time back so you can focus on. 376 00:19:33,920 --> 00:19:35,400 Speaker 3: What matters most ready. 377 00:19:35,400 --> 00:19:38,800 Speaker 4: To see how Square can transform your business, visit Square 378 00:19:38,840 --> 00:19:43,399 Speaker 4: dot com backslash go backslash eyl to learn more that 379 00:19:43,560 --> 00:19:49,040 Speaker 4: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate. 380 00:19:49,160 --> 00:19:51,479 Speaker 4: Let's Square handle the back end so you can keep 381 00:19:51,560 --> 00:19:57,639 Speaker 4: pushing your vision forward. This episode is brought to you 382 00:19:57,680 --> 00:19:59,880 Speaker 4: by P and C Bank. A lot of people think 383 00:20:00,080 --> 00:20:03,879 Speaker 4: podcasts about work of boring, and sure, they definitely can be, 384 00:20:04,400 --> 00:20:07,639 Speaker 4: but understanding a professionals routine shows us how they achieve 385 00:20:07,720 --> 00:20:11,919 Speaker 4: their success little by little, day after day. It's like 386 00:20:12,000 --> 00:20:14,800 Speaker 4: banking with P and C Bank. It might seem boring 387 00:20:14,800 --> 00:20:17,639 Speaker 4: to save, plan and make calculated decisions with your bank, 388 00:20:18,080 --> 00:20:20,560 Speaker 4: but keeping your money boring is what helps you live 389 00:20:20,640 --> 00:20:24,719 Speaker 4: a more happily fulfilled life. P and C Bank Brilliantly 390 00:20:24,800 --> 00:20:29,359 Speaker 4: Boring since eighteen sixty five. Brilliantly Boring since eighteen sixty 391 00:20:29,359 --> 00:20:32,640 Speaker 4: five is a service mark of the PNC Financial Service Group, Inc. 392 00:20:33,080 --> 00:20:36,520 Speaker 4: P and C Bank National Association Member FDIC. 393 00:20:38,280 --> 00:20:41,960 Speaker 5: An illegal alien from Guatemala charged with raping a child 394 00:20:41,960 --> 00:20:45,760 Speaker 5: in Massachusetts. An MS thirteen gang member from El Salvador 395 00:20:46,000 --> 00:20:50,159 Speaker 5: accused of murdering a Texas. Man of Venezuelan charged with 396 00:20:50,200 --> 00:20:54,119 Speaker 5: filming and selling child pornography in Michigan. These are just 397 00:20:54,200 --> 00:20:57,919 Speaker 5: some of the heinous migrant criminals caught because of President 398 00:20:58,000 --> 00:20:59,480 Speaker 5: Donald J. Trump's leadership. 399 00:21:00,119 --> 00:21:04,760 Speaker 6: Christinome, the United States Secretary of Homeland Security. Under President Trump, 400 00:21:05,040 --> 00:21:08,320 Speaker 6: attempted illegal border crossings are at the lowest. 401 00:21:08,000 --> 00:21:10,119 Speaker 5: Levels ever recorded, and over. 402 00:21:10,040 --> 00:21:13,240 Speaker 6: One hundred thousand illegal aliens have been arrested. If you 403 00:21:13,320 --> 00:21:17,160 Speaker 6: were here illegally, your next you will be fine nearly 404 00:21:17,280 --> 00:21:21,280 Speaker 6: one thousand dollars a day. Imprisoned and deported, you will 405 00:21:21,320 --> 00:21:24,960 Speaker 6: never return. But if you register using our CBP home 406 00:21:25,000 --> 00:21:28,400 Speaker 6: app and leave now you could be allowed to return legally, 407 00:21:28,760 --> 00:21:33,479 Speaker 6: do what's right, leave now. Under President Trump America's laws, 408 00:21:33,680 --> 00:21:36,120 Speaker 6: border and families will be protected. 409 00:21:36,240 --> 00:21:38,360 Speaker 3: Sponsored by the United States Department of Homeland Security. 410 00:21:38,400 --> 00:21:42,320 Speaker 2: Out of public housing developments were put in prime real 411 00:21:42,400 --> 00:21:45,879 Speaker 2: estate locations, right and Queensbridge is actually a perfect example 412 00:21:45,880 --> 00:21:47,760 Speaker 2: of that because if anybody's familiar with New York, so 413 00:21:48,200 --> 00:21:55,320 Speaker 2: Queensbridge projects is literally right on the water in Queens 414 00:21:55,680 --> 00:22:00,080 Speaker 2: overlooks Manhattan East River. It's one of the best views 415 00:22:01,000 --> 00:22:05,000 Speaker 2: that you can have. Yeah, it's amazing. So I'm pretty 416 00:22:05,040 --> 00:22:11,480 Speaker 2: sure when they were building that they didn't fully think how, yes, 417 00:22:11,640 --> 00:22:15,359 Speaker 2: exactly how valuable that real estate is. Right, It's one 418 00:22:15,359 --> 00:22:19,320 Speaker 2: of the most valuable real estates probably in the world perhaps, 419 00:22:20,160 --> 00:22:24,239 Speaker 2: so they can't just tear down the buildings. So what 420 00:22:24,280 --> 00:22:26,439 Speaker 2: they did was they just built around it. Right. So 421 00:22:26,480 --> 00:22:29,080 Speaker 2: if you go there now, you have five star restaurants, 422 00:22:29,520 --> 00:22:33,800 Speaker 2: you have Amazon moving there, you have million dollar apartments, 423 00:22:34,600 --> 00:22:38,280 Speaker 2: and you would never know that it's the largest housing 424 00:22:38,320 --> 00:22:40,119 Speaker 2: project is right in the middle of all of that, 425 00:22:40,280 --> 00:22:43,120 Speaker 2: because it's kind of hidden almost in a sense. 426 00:22:43,200 --> 00:22:45,320 Speaker 4: And that's part of the issue that a lot of 427 00:22:45,359 --> 00:22:48,160 Speaker 4: people are having they're saying, look, you're building this one 428 00:22:48,200 --> 00:22:53,280 Speaker 4: billion square foot almost little town a mile down the 429 00:22:53,320 --> 00:22:55,760 Speaker 4: street from the largest housing projects in America. The median 430 00:22:56,040 --> 00:22:59,280 Speaker 4: income is fifteen thousand, right, and we know that when 431 00:22:59,280 --> 00:23:01,439 Speaker 4: prime real estate comes in like that, what happens to 432 00:23:01,520 --> 00:23:03,720 Speaker 4: the rest of the real estate that surrounds it. It's 433 00:23:03,760 --> 00:23:05,919 Speaker 4: going up, right, But that's what the people own, right, 434 00:23:06,119 --> 00:23:08,280 Speaker 4: the people in Queensbane projects, they're paying rent. 435 00:23:08,359 --> 00:23:10,320 Speaker 2: Well, the thing with that is that so it's it's 436 00:23:10,720 --> 00:23:16,439 Speaker 2: it's owned by the government. So it's interesting because so 437 00:23:16,760 --> 00:23:20,360 Speaker 2: in Brazil, right, and the favelas in Brazil, if anybody's 438 00:23:20,359 --> 00:23:23,480 Speaker 2: not familiar with that, that's like the slums of Brazil, 439 00:23:24,000 --> 00:23:29,800 Speaker 2: and the favelas were built on hills. Right. So in 440 00:23:29,920 --> 00:23:34,720 Speaker 2: Rio they have like Christ the Redeemer and they have 441 00:23:36,440 --> 00:23:37,440 Speaker 2: Epanima Beach. 442 00:23:38,080 --> 00:23:38,600 Speaker 3: So you got. 443 00:23:41,160 --> 00:23:46,760 Speaker 2: So long story short. Now they realize that those hills 444 00:23:46,800 --> 00:23:51,200 Speaker 2: where the favelas are are actually prime locations because it's 445 00:23:51,440 --> 00:23:55,480 Speaker 2: overlooking some of once again the most expensive real estate 446 00:23:55,520 --> 00:23:59,520 Speaker 2: in the world, right, Like it's overlooking Panima, it's overlooking 447 00:23:59,560 --> 00:24:02,600 Speaker 2: the beaches, is overlooking Christ of Redeemers. So now you 448 00:24:02,680 --> 00:24:05,280 Speaker 2: have a million, a million and a half people living 449 00:24:05,320 --> 00:24:07,920 Speaker 2: in slums in the hills who at the time they 450 00:24:07,960 --> 00:24:09,760 Speaker 2: probably built it saying that we're going to keep the 451 00:24:09,760 --> 00:24:12,600 Speaker 2: people in the hills away from you know, everybody else. 452 00:24:13,080 --> 00:24:15,880 Speaker 2: But now they realize that those hills are actually valuable. 453 00:24:16,240 --> 00:24:18,439 Speaker 2: So now they're trying to move people like five hours 454 00:24:18,480 --> 00:24:21,720 Speaker 2: away into different locations because now they want to build 455 00:24:22,240 --> 00:24:25,399 Speaker 2: luxury apartment buildings and hotels in the hills. 456 00:24:25,440 --> 00:24:28,160 Speaker 3: So this sounds like you're making a forecastle. What could happen? 457 00:24:28,240 --> 00:24:31,399 Speaker 2: Well, that's why, you know, we talk about every the 458 00:24:31,400 --> 00:24:34,160 Speaker 2: world is flat, right, so the same thing that what's 459 00:24:34,200 --> 00:24:37,920 Speaker 2: going on in Brazil is relevant in New York, what's 460 00:24:37,920 --> 00:24:41,639 Speaker 2: going on in Chicago is relevant in Africa. So it's so. 461 00:24:41,800 --> 00:24:44,560 Speaker 2: But it's interesting as far as, like I said, the 462 00:24:44,640 --> 00:24:50,679 Speaker 2: real estate play in that regard, because gentrification has a 463 00:24:50,680 --> 00:24:55,640 Speaker 2: lot of different complexities to it. But you know, that's 464 00:24:55,640 --> 00:24:58,800 Speaker 2: something that I don't think people fully understand how valuable. 465 00:25:00,920 --> 00:25:04,760 Speaker 2: It's interesting because some of the most expensive real estate 466 00:25:04,840 --> 00:25:08,240 Speaker 2: is where the poorest people live, and that was done 467 00:25:08,280 --> 00:25:12,520 Speaker 2: on purpose. So now they realized that, you know, they 468 00:25:12,520 --> 00:25:13,199 Speaker 2: made a mistake. 469 00:25:13,600 --> 00:25:16,480 Speaker 4: Yeah, So I mean the pluses that they're saying that 470 00:25:16,480 --> 00:25:18,119 Speaker 4: they'll bring twenty five thousand jobs. 471 00:25:18,200 --> 00:25:19,480 Speaker 3: I think it was. 472 00:25:19,720 --> 00:25:22,399 Speaker 4: The promise was fifty thousand jobs and twenty five in 473 00:25:22,440 --> 00:25:24,520 Speaker 4: the DC area, twenty five thousand come to the New 474 00:25:24,600 --> 00:25:25,160 Speaker 4: York area. 475 00:25:25,640 --> 00:25:28,320 Speaker 3: But the people in Queensbridge are like, that's great, but 476 00:25:29,480 --> 00:25:30,200 Speaker 3: are we It's. 477 00:25:30,160 --> 00:25:31,120 Speaker 2: Not just queensbridg either. 478 00:25:31,280 --> 00:25:33,320 Speaker 4: I'm just saying like, yeah, how do we do it? 479 00:25:33,359 --> 00:25:37,000 Speaker 4: So that thing is saying, hey, we'll provide drop training 480 00:25:37,480 --> 00:25:38,760 Speaker 4: and we'll. 481 00:25:38,520 --> 00:25:39,720 Speaker 3: Offer affordable housing. 482 00:25:39,800 --> 00:25:43,920 Speaker 4: But even affordable housing is subjectives, right, because what's affordable 483 00:25:44,000 --> 00:25:46,560 Speaker 4: to one may not be affordable to another family. Yeah right, 484 00:25:46,600 --> 00:25:49,359 Speaker 4: it's not income based housing, it's affordable housing. 485 00:25:49,640 --> 00:25:52,720 Speaker 2: Yeah. And like I said, New York is a perfect 486 00:25:52,720 --> 00:25:54,240 Speaker 2: example of that because not just like I said, not 487 00:25:54,280 --> 00:25:57,879 Speaker 2: just Queensbridge. You have a lot of different pockets where 488 00:25:59,000 --> 00:26:01,520 Speaker 2: it was prime location. Look at the Lower east Side, right, 489 00:26:01,520 --> 00:26:03,800 Speaker 2: if anybody familiar, that's the Lower east Side of Manhattan. 490 00:26:04,280 --> 00:26:07,040 Speaker 2: And at one point in time that was a very 491 00:26:07,080 --> 00:26:11,879 Speaker 2: bad neighborhood. Now it's changed because they realize how valuable 492 00:26:12,400 --> 00:26:15,840 Speaker 2: that real estate actually is. Right, That's that's the that's 493 00:26:15,880 --> 00:26:19,119 Speaker 2: the thing with gentrification. They realized now that that that 494 00:26:19,200 --> 00:26:22,960 Speaker 2: real estate is actually valuable, So everybody moved out the 495 00:26:23,000 --> 00:26:24,359 Speaker 2: neighborhoods got torn apart. 496 00:26:24,400 --> 00:26:26,800 Speaker 3: I think I said that right, Well, he's like, what 497 00:26:26,920 --> 00:26:27,400 Speaker 3: is our rolling? 498 00:26:27,560 --> 00:26:29,639 Speaker 2: Well, Ti, I was saying that we didn't value the 499 00:26:29,720 --> 00:26:33,520 Speaker 2: community enough to buy property when it was And that's 500 00:26:33,520 --> 00:26:35,760 Speaker 2: what even when Jay said, you know, I could have 501 00:26:35,760 --> 00:26:38,920 Speaker 2: brought a place in Dumbo for two million, he said 502 00:26:38,920 --> 00:26:41,439 Speaker 2: that same place now as worth twenty five million, kind 503 00:26:41,440 --> 00:26:44,880 Speaker 2: of feeling Dumbo. So you know, like I said, that's 504 00:26:44,880 --> 00:26:47,520 Speaker 2: a that's a conversation that we can go on and 505 00:26:47,560 --> 00:26:52,560 Speaker 2: on about. But it's interesting. And yeah, Amazon's definitely playing 506 00:26:52,600 --> 00:26:56,240 Speaker 2: a part in coming in and changing the face of 507 00:26:56,280 --> 00:26:58,600 Speaker 2: the community. We have to see whether it's going to 508 00:26:58,680 --> 00:27:01,320 Speaker 2: be for the better or for the worst. But only 509 00:27:01,359 --> 00:27:01,879 Speaker 2: time will tell. 510 00:27:01,960 --> 00:27:03,600 Speaker 3: Yeah, we will see, man, But I. 511 00:27:03,560 --> 00:27:06,840 Speaker 2: Want to go to something else. The Finity. A lot 512 00:27:06,880 --> 00:27:11,560 Speaker 2: of times we talk about male entrepreneurs, yeah, and you know, 513 00:27:11,800 --> 00:27:15,560 Speaker 2: business a lot of times like male driven. But we 514 00:27:15,640 --> 00:27:22,320 Speaker 2: are not male chauvinists. We appreciate women. We appreciate women entrepreneurs. 515 00:27:22,320 --> 00:27:27,520 Speaker 2: So I wanted to talk about the cosmetic industry, and 516 00:27:27,760 --> 00:27:29,880 Speaker 2: I thought, what better way to talk about the cosmetic 517 00:27:29,920 --> 00:27:33,840 Speaker 2: industry than to talk about, you know, two very successful 518 00:27:33,920 --> 00:27:39,639 Speaker 2: entrepreneurs on their own which is Rihanna and Kylie Jenner. 519 00:27:40,440 --> 00:27:42,679 Speaker 2: So you want to just go into that. 520 00:27:43,000 --> 00:27:47,760 Speaker 4: Yeah, So, I mean it's kind of awkward that they 521 00:27:48,080 --> 00:27:49,840 Speaker 4: when we talk about the two of them, it's usually 522 00:27:49,880 --> 00:27:53,080 Speaker 4: in a verse type of situation, right, like Rihanna verse Kylie. 523 00:27:53,160 --> 00:27:55,600 Speaker 3: But it really isn't like there's enough space. 524 00:27:55,320 --> 00:27:58,760 Speaker 4: And there's enough money for everybody everyone to be successful. 525 00:27:59,560 --> 00:28:01,480 Speaker 4: It's it's like we see that in our music, right. 526 00:28:01,520 --> 00:28:03,680 Speaker 4: We can't have two successful females like we have that. 527 00:28:03,800 --> 00:28:06,840 Speaker 2: And that's the thing too. Yeah, it's important to understand that, 528 00:28:07,920 --> 00:28:12,040 Speaker 2: whether it be race, like they can't be too top 529 00:28:12,080 --> 00:28:15,240 Speaker 2: black entrepreneurs or they can't be two women or whatever, 530 00:28:15,480 --> 00:28:19,760 Speaker 2: there's enough for everybody. So I don't really even like 531 00:28:19,840 --> 00:28:23,680 Speaker 2: the because somebody had commented the comparison, and I'm sure 532 00:28:23,680 --> 00:28:26,280 Speaker 2: it's done in good nature. Yeah, but we just want 533 00:28:26,320 --> 00:28:28,679 Speaker 2: to look at both of them, right, because they are 534 00:28:28,720 --> 00:28:32,960 Speaker 2: both very successful, right, and they're both two people that 535 00:28:33,440 --> 00:28:34,240 Speaker 2: we can learn from. 536 00:28:34,359 --> 00:28:34,679 Speaker 3: Yeah. 537 00:28:34,720 --> 00:28:39,480 Speaker 4: So, Rihanna's company, her cosmetic company, Fancy Beauty, started in 538 00:28:39,480 --> 00:28:42,520 Speaker 4: twenty seventeen, did some amazing numbers. I think within the 539 00:28:42,520 --> 00:28:45,120 Speaker 4: first forty days they grossed one hundred million dollars as 540 00:28:45,120 --> 00:28:51,760 Speaker 4: a company. She had a line forty Foundations of forty 541 00:28:51,760 --> 00:28:55,920 Speaker 4: shades of Foundation, which was hugely popular. It celebrated diversity. 542 00:28:56,240 --> 00:28:59,800 Speaker 4: Mimen of all colors, shapes, and creeds could use it. 543 00:29:00,720 --> 00:29:03,760 Speaker 4: And what's interesting about Fency Beauty is that although it 544 00:29:03,800 --> 00:29:06,080 Speaker 4: hasn't made the most, I mean it did pretty well, 545 00:29:06,080 --> 00:29:09,280 Speaker 4: but it hasn't made the most, it's average customer spends 546 00:29:09,280 --> 00:29:10,080 Speaker 4: four hundred. 547 00:29:09,800 --> 00:29:11,719 Speaker 3: And seventy dollars a year on the cosmetics. Well. 548 00:29:11,840 --> 00:29:15,080 Speaker 2: The thing another interesting thing about fenty is that they're 549 00:29:15,120 --> 00:29:18,280 Speaker 2: not limited edition, right, So like you know, we talked 550 00:29:18,280 --> 00:29:21,680 Speaker 2: about that model, Like even if you look at Supreme 551 00:29:22,520 --> 00:29:25,080 Speaker 2: or like Kanye when his sneakers comes out a lot 552 00:29:25,080 --> 00:29:29,240 Speaker 2: of times in business, it's limited, right, which leads to 553 00:29:30,080 --> 00:29:33,000 Speaker 2: a higher demand which you can drive prices. But fenty 554 00:29:33,040 --> 00:29:34,640 Speaker 2: doesn't have. It's not their business model. 555 00:29:34,720 --> 00:29:37,200 Speaker 4: Yeah, and even with that, even though it's not limited, 556 00:29:37,240 --> 00:29:39,400 Speaker 4: it sells out, like if you go try to find. 557 00:29:39,200 --> 00:29:41,240 Speaker 3: It, but they replenished, replenished. 558 00:29:41,280 --> 00:29:43,920 Speaker 4: But the average person spends more money on their brand 559 00:29:43,920 --> 00:29:46,080 Speaker 4: than any other brand. So like even with like Kim 560 00:29:46,160 --> 00:29:50,880 Speaker 4: Kardashian West's line or Kylie's line, like, the average amount 561 00:29:50,920 --> 00:29:52,520 Speaker 4: of money spent per year is maybe one. 562 00:29:52,440 --> 00:29:53,240 Speaker 3: Hundred dollars less. 563 00:29:53,240 --> 00:29:55,440 Speaker 4: So that shows you that there's loyalty to this brand 564 00:29:55,600 --> 00:29:58,280 Speaker 4: and people are supporting it because the product must be good. 565 00:29:58,520 --> 00:30:00,400 Speaker 2: And they've done a good job with social media. So 566 00:30:00,400 --> 00:30:04,040 Speaker 2: there's a company called Cherry Picks and what they do 567 00:30:04,080 --> 00:30:07,720 Speaker 2: is they track online purchases based off of social media engagement. 568 00:30:08,040 --> 00:30:13,960 Speaker 2: So they have actually outpaced Kylie Cosmetic, which is Kylie 569 00:30:14,000 --> 00:30:17,120 Speaker 2: Jenner's company, towards the end I think the last quarter 570 00:30:17,240 --> 00:30:20,280 Speaker 2: of last year. So that's a big milestone for them 571 00:30:20,320 --> 00:30:23,440 Speaker 2: because they fairly knew they just started, so they actually 572 00:30:23,480 --> 00:30:27,080 Speaker 2: outpaced them in that department, so they've they've done a 573 00:30:27,080 --> 00:30:29,040 Speaker 2: good job. I mean, of course you have Brianna. 574 00:30:28,920 --> 00:30:31,880 Speaker 4: Yeah, and I like people are like, oh and obviously 575 00:30:31,880 --> 00:30:34,200 Speaker 4: we know her from being a great musical artist and 576 00:30:34,240 --> 00:30:36,560 Speaker 4: like a lot of people like Alan Wisdom new work, 577 00:30:36,600 --> 00:30:39,840 Speaker 4: and she's been focused on just getting her cosmetic line 578 00:30:39,840 --> 00:30:40,760 Speaker 4: off the ground. 579 00:30:41,080 --> 00:30:42,920 Speaker 3: She has the lingerie line that she did as well. 580 00:30:43,000 --> 00:30:44,280 Speaker 2: She has a lot of It's like we're talking about 581 00:30:44,280 --> 00:30:46,440 Speaker 2: George Clooney when he made he made two hundred and 582 00:30:46,480 --> 00:30:50,400 Speaker 2: seventy million off of the tequila company. 583 00:30:50,080 --> 00:30:53,400 Speaker 3: And then you saw it, right, we had seen that. 584 00:30:53,600 --> 00:30:56,080 Speaker 2: Yeah, he made that off of tequila company, and like, well, 585 00:30:56,080 --> 00:30:59,320 Speaker 2: why is he not acting? Why do you think he's yea, 586 00:30:59,400 --> 00:31:01,440 Speaker 2: So the same thing with I mean, I'm sure she 587 00:31:01,760 --> 00:31:04,400 Speaker 2: loved for music. Yeah, but you got a chance to 588 00:31:04,960 --> 00:31:07,240 Speaker 2: be a Reilly cash out off this. It's like, Okay, 589 00:31:07,960 --> 00:31:08,920 Speaker 2: music is cool, but. 590 00:31:09,160 --> 00:31:09,880 Speaker 3: Touring is great. 591 00:31:09,960 --> 00:31:10,880 Speaker 2: This is this is different. 592 00:31:10,960 --> 00:31:15,000 Speaker 4: Yeah, and like I said, it's done extremely well. Twenty eighteen, 593 00:31:15,560 --> 00:31:19,000 Speaker 4: they reported five hundred and seventy three million in sales, 594 00:31:20,000 --> 00:31:22,600 Speaker 4: which is interesting when you look at it because when 595 00:31:22,640 --> 00:31:25,600 Speaker 4: they showed her net worth, Rihanna I think went from 596 00:31:25,600 --> 00:31:28,000 Speaker 4: like eighty million to two hundred and ten million dollars 597 00:31:28,040 --> 00:31:31,280 Speaker 4: because of her deal with Fancy Beauty. 598 00:31:31,560 --> 00:31:34,960 Speaker 3: Now, the interesting part about Fancy Beauty is not she doesn't. 599 00:31:34,680 --> 00:31:36,960 Speaker 4: Own one hundred percent of it, and that's something we've 600 00:31:36,960 --> 00:31:39,520 Speaker 4: been talking about a lot, Like on one hundred percent, 601 00:31:39,720 --> 00:31:44,280 Speaker 4: she olds a stake in it. The parent company is LVMH, 602 00:31:44,360 --> 00:31:49,320 Speaker 4: which is really Louis Vaton mot Hennessy, and they are 603 00:31:49,360 --> 00:31:52,960 Speaker 4: they're a luxury conglomerates, so like they combined, they see 604 00:31:53,400 --> 00:31:55,920 Speaker 4: value in something will put money behind it, so they 605 00:31:55,960 --> 00:31:58,000 Speaker 4: own they're the parent company, they own majority of the 606 00:31:58,040 --> 00:32:02,640 Speaker 4: stakes in it. Whereas Kylie kas medics completely different story. Right, 607 00:32:02,840 --> 00:32:05,479 Speaker 4: So when Travis is like big Mama color Forbes like 608 00:32:06,280 --> 00:32:08,800 Speaker 4: nine hundred million, like this is like this woman has 609 00:32:08,840 --> 00:32:11,080 Speaker 4: a chance to be the youngest billionaire in the history 610 00:32:11,720 --> 00:32:14,400 Speaker 4: self made billionaire in the history of the United States, 611 00:32:14,400 --> 00:32:15,280 Speaker 4: like within the next year. 612 00:32:15,320 --> 00:32:17,440 Speaker 3: I think she does it before twenty three. 613 00:32:17,520 --> 00:32:21,040 Speaker 2: So we can't discredit. We can't discredit College John. We're 614 00:32:21,080 --> 00:32:25,320 Speaker 2: not going to do that. It's been a lot of backlash, yeah, 615 00:32:25,360 --> 00:32:28,000 Speaker 2: on her, like she's not a self made because obviously 616 00:32:28,000 --> 00:32:30,160 Speaker 2: she comes from a wealthy family. And of course, but 617 00:32:30,240 --> 00:32:35,120 Speaker 2: how many wealthy children squandered their parents' gifts, right, So 618 00:32:35,200 --> 00:32:38,520 Speaker 2: you still have to have some self drive, some business acroman. 619 00:32:38,560 --> 00:32:40,800 Speaker 3: She has a better start, but it is still still 620 00:32:40,840 --> 00:32:41,719 Speaker 3: have to go somewhere. 621 00:32:42,240 --> 00:32:44,440 Speaker 4: So twenty fifteen, like she starts out with just the 622 00:32:44,480 --> 00:32:47,400 Speaker 4: lip kits, like that was her company she and that 623 00:32:47,600 --> 00:32:49,880 Speaker 4: was funded from I think, like she had a milent 624 00:32:49,960 --> 00:32:52,560 Speaker 4: deal and the TV show had just started, so she's 625 00:32:52,560 --> 00:32:53,239 Speaker 4: got money from that. 626 00:32:53,280 --> 00:32:57,320 Speaker 2: So she put she's leveraged her social media presence, she's 627 00:32:57,400 --> 00:33:00,760 Speaker 2: leveraged her family name, and I mean supposed to do that. 628 00:33:01,120 --> 00:33:02,440 Speaker 2: That's what she's supposed to do like. 629 00:33:02,400 --> 00:33:04,440 Speaker 4: She's getting paid a million for an ad, Like we 630 00:33:04,480 --> 00:33:06,960 Speaker 4: spoke about her sister a couple of weeks ago geting 631 00:33:06,960 --> 00:33:08,040 Speaker 4: two hundred and fifty for the ad. 632 00:33:08,280 --> 00:33:09,520 Speaker 3: She's charging a million per ad. 633 00:33:09,640 --> 00:33:12,080 Speaker 2: No, she's not. And she owns a company one. 634 00:33:12,080 --> 00:33:16,560 Speaker 4: Hundred percent so they did eight hundred million dollars in sales. 635 00:33:16,760 --> 00:33:18,560 Speaker 4: Like so if she owns one hundred percent of the company, 636 00:33:18,600 --> 00:33:21,680 Speaker 4: who she's paying, right, The only person that gets a 637 00:33:21,680 --> 00:33:23,200 Speaker 4: cut of that is a mom who's the manager. She 638 00:33:23,200 --> 00:33:25,160 Speaker 4: gets ten percent of you know, all the things that 639 00:33:25,200 --> 00:33:27,040 Speaker 4: she makes. So she does a billion, mom gets one 640 00:33:27,120 --> 00:33:29,920 Speaker 4: hundred million. But like you're twenty three with nine hundred millions. 641 00:33:30,000 --> 00:33:36,360 Speaker 2: Yeah, it's amazing, No, No, it's it's definitely something to 642 00:33:36,520 --> 00:33:39,840 Speaker 2: marvel at. Yeah, and it's not easy to run a business, 643 00:33:40,160 --> 00:33:44,440 Speaker 2: especially a business that large, especially that young, right, because 644 00:33:44,440 --> 00:33:45,960 Speaker 2: there's a lot. I mean, you give somebody, you give 645 00:33:45,960 --> 00:33:49,960 Speaker 2: a twenty two year old ten million dollars, they might 646 00:33:50,040 --> 00:33:52,640 Speaker 2: just go crazy. They're not worrying about turning that ten 647 00:33:52,680 --> 00:33:55,920 Speaker 2: million into a billion right now, you know. So so yeah, 648 00:33:56,080 --> 00:33:58,840 Speaker 2: I think that both of them are success stories. But 649 00:33:58,880 --> 00:34:00,920 Speaker 2: I also wanted to talk about an the success story 650 00:34:00,960 --> 00:34:02,640 Speaker 2: that a lot of people may not have heard of 651 00:34:02,720 --> 00:34:05,280 Speaker 2: in the cosmetic industry. A woman named Pat McGrath. 652 00:34:05,560 --> 00:34:07,880 Speaker 3: Have you heard of her? So? 653 00:34:07,880 --> 00:34:13,400 Speaker 2: Pat McGrath is a UK citizen, She is a child 654 00:34:13,480 --> 00:34:17,839 Speaker 2: of Jamaican immigrants, and she's a celebrity makeup artist. So 655 00:34:17,880 --> 00:34:20,000 Speaker 2: the interesting thing about her is that she's been celebrity 656 00:34:20,000 --> 00:34:24,560 Speaker 2: makeup artist for years now, and she started her makeup 657 00:34:24,600 --> 00:34:29,480 Speaker 2: line two years ago and it actually reached a billion 658 00:34:29,520 --> 00:34:33,400 Speaker 2: dollar valuation last year. So the valuation on paper is 659 00:34:33,440 --> 00:34:38,600 Speaker 2: actually worth more than Kylie Jenner's company. That's something that 660 00:34:38,640 --> 00:34:43,359 Speaker 2: to applaud as well, because she's not a celebrity, she's 661 00:34:43,400 --> 00:34:48,080 Speaker 2: not famous. She comes from humble beginnings and you know 662 00:34:48,200 --> 00:34:53,200 Speaker 2: she yeah, her cosmetic company is now valued over a 663 00:34:53,239 --> 00:34:55,400 Speaker 2: billion dollars and like I said, not even to compare 664 00:34:55,440 --> 00:34:57,880 Speaker 2: it to Kylie, but since Kylie's in the news, you know, 665 00:34:57,920 --> 00:34:59,880 Speaker 2: we have to use that as framework. But it's actually 666 00:35:00,280 --> 00:35:04,000 Speaker 2: on paperworth more than colleague generous company. So that's something 667 00:35:04,040 --> 00:35:05,560 Speaker 2: to keep in mind as well, because you know, we 668 00:35:05,600 --> 00:35:08,319 Speaker 2: do talk about sports entertainment a lot because it's kind 669 00:35:08,320 --> 00:35:10,880 Speaker 2: of the theme of the show, but we want to 670 00:35:10,960 --> 00:35:14,520 Speaker 2: highlight you know, regular every day entrepreneurs as well. People 671 00:35:14,560 --> 00:35:18,759 Speaker 2: that don't come from you know, sports, entertainment, celebrity backgrounds, 672 00:35:19,160 --> 00:35:21,200 Speaker 2: and you know, I think that's important as well because 673 00:35:21,320 --> 00:35:25,520 Speaker 2: it encourages anybody to you know, say, you know, if 674 00:35:25,560 --> 00:35:29,120 Speaker 2: you if you follow your dreams, then you can do 675 00:35:29,200 --> 00:35:32,239 Speaker 2: this as well. So cosmetic industry huge, huge, and it 676 00:35:32,320 --> 00:35:36,520 Speaker 2: has been a huge industry for forever and it probably 677 00:35:36,560 --> 00:35:39,240 Speaker 2: will will always be a huge industry. So there's always 678 00:35:39,280 --> 00:35:42,400 Speaker 2: money to be made in cosmetics, in beauty, and we 679 00:35:42,480 --> 00:35:45,480 Speaker 2: do not have to pin ourselves against each other. There's 680 00:35:45,600 --> 00:35:46,640 Speaker 2: enough for everybody. 681 00:35:47,480 --> 00:35:50,279 Speaker 4: And speaking on the topic of entrepreneurs that was like 682 00:35:51,000 --> 00:35:53,120 Speaker 4: one of the questions and a lot of feedback people 683 00:35:53,160 --> 00:35:54,600 Speaker 4: on the nose, like what does it take to be 684 00:35:54,640 --> 00:35:58,040 Speaker 4: an entreneur? How what what is that like? And you 685 00:35:58,080 --> 00:35:58,960 Speaker 4: want to touch on that, I. 686 00:35:59,000 --> 00:36:01,440 Speaker 3: Mean you are, yeah yourself. 687 00:36:01,640 --> 00:36:05,479 Speaker 2: Yeah, briefly, we'll end it. We'll end it with this. So, yeah, 688 00:36:05,680 --> 00:36:09,680 Speaker 2: entrepreneurship is something that is not for the faint of heart, 689 00:36:10,280 --> 00:36:12,120 Speaker 2: and it's not it's not easy. A lot of times, 690 00:36:12,120 --> 00:36:15,279 Speaker 2: you know, it's glamorized. We see it's becoming very trendy now, 691 00:36:15,280 --> 00:36:17,239 Speaker 2: it's very popular and it's a good thing that you know, 692 00:36:17,360 --> 00:36:20,120 Speaker 2: more people are encouraging to go out there and create 693 00:36:20,120 --> 00:36:22,160 Speaker 2: a business, but I wanted to just talk. You know, 694 00:36:22,360 --> 00:36:25,479 Speaker 2: a lot of times we have to show both sides 695 00:36:25,520 --> 00:36:27,600 Speaker 2: of the coin. And you know, think about being an 696 00:36:27,640 --> 00:36:32,399 Speaker 2: entrepreneur is that it's something that financially there's there's no guarantees, right, 697 00:36:32,560 --> 00:36:34,560 Speaker 2: Like you you have the same bills every single month, 698 00:36:34,600 --> 00:36:37,640 Speaker 2: but cash flow is not the same every month. 699 00:36:37,640 --> 00:36:39,640 Speaker 3: You don't know, you don't move your feet, you don't eat. 700 00:36:39,680 --> 00:36:41,520 Speaker 2: And not even that. Sometimes it's not even up to 701 00:36:41,520 --> 00:36:43,440 Speaker 2: you know, you can do everything right and still not 702 00:36:43,440 --> 00:36:45,400 Speaker 2: get paid. Things just fall through, right, So it's like 703 00:36:45,440 --> 00:36:48,839 Speaker 2: you might go two three months without getting paid. Your 704 00:36:48,880 --> 00:36:50,560 Speaker 2: rent has still get paid, your mortgage will have to 705 00:36:50,560 --> 00:36:53,239 Speaker 2: get paid, your kids got to still eat, So that 706 00:36:53,360 --> 00:36:57,520 Speaker 2: pressure is different, and it can be lonely. You know 707 00:36:57,560 --> 00:36:59,520 Speaker 2: a lot of times people don't fully understand. Like if 708 00:36:59,520 --> 00:37:02,359 Speaker 2: you work at it a workspace, you know, you have 709 00:37:02,480 --> 00:37:07,120 Speaker 2: coworkers and things of that nature, so that provides a 710 00:37:07,120 --> 00:37:11,000 Speaker 2: certain level of social engagement and interaction. But when you're 711 00:37:11,000 --> 00:37:14,439 Speaker 2: an entrepreneur, a lot of times you're by yourself, and 712 00:37:14,600 --> 00:37:16,879 Speaker 2: you're by yourself all day trying to figure things out. 713 00:37:16,960 --> 00:37:21,319 Speaker 2: So you know, it is rewarding because you know, you 714 00:37:21,320 --> 00:37:25,160 Speaker 2: do have freedom and it can be financially rewarding as well. 715 00:37:25,280 --> 00:37:27,279 Speaker 2: But it's just important, I think, to keep the mind 716 00:37:27,560 --> 00:37:29,400 Speaker 2: people like you said, ask the question, like what's the 717 00:37:29,400 --> 00:37:30,960 Speaker 2: first steps? How do you get started? De really is 718 00:37:31,000 --> 00:37:32,600 Speaker 2: no first steps of blueprint. You just got to go 719 00:37:32,600 --> 00:37:34,080 Speaker 2: out there and figure it out, right. I mean, of 720 00:37:34,080 --> 00:37:35,640 Speaker 2: course you want to set up your LLC, set up 721 00:37:35,640 --> 00:37:40,400 Speaker 2: your company, do your market research, see you know, have 722 00:37:40,520 --> 00:37:44,359 Speaker 2: a mentor have a couple of mentors. But ultimately you're 723 00:37:44,360 --> 00:37:46,120 Speaker 2: gonna have to just jump out the airplane and just 724 00:37:46,200 --> 00:37:48,680 Speaker 2: kind of figure it out on your own because there 725 00:37:48,760 --> 00:37:52,640 Speaker 2: is no no set science to it. There's no roadmap 726 00:37:52,719 --> 00:37:54,920 Speaker 2: or no book that you can actually read that's going 727 00:37:55,000 --> 00:37:58,000 Speaker 2: to give you the real world experience. Only real world 728 00:37:58,000 --> 00:38:00,239 Speaker 2: experience is going to give that to you. So yeah, 729 00:38:00,239 --> 00:38:02,240 Speaker 2: I just wanted to touch on that for a couple 730 00:38:02,239 --> 00:38:07,080 Speaker 2: of minutes. But that is where at the end time flies. 731 00:38:07,160 --> 00:38:09,480 Speaker 2: You want to have a final word before we Yeah. 732 00:38:09,520 --> 00:38:11,320 Speaker 4: I just want to say just that honesty that you 733 00:38:11,400 --> 00:38:13,520 Speaker 4: just shared. Man, Like I watched you go through that process, 734 00:38:13,520 --> 00:38:15,640 Speaker 4: so like everything is saying is one hundred percent honestly, 735 00:38:15,680 --> 00:38:18,520 Speaker 4: and you were completely transparent about it. And networking is 736 00:38:18,520 --> 00:38:20,279 Speaker 4: one of the things you did. And one of the 737 00:38:20,320 --> 00:38:22,279 Speaker 4: things when I was listening to you was like that 738 00:38:22,440 --> 00:38:24,919 Speaker 4: was so important. I remember when you started. I was like, Yo, 739 00:38:25,239 --> 00:38:26,839 Speaker 4: I don't care what you're doing. I'm your first client. 740 00:38:27,160 --> 00:38:30,799 Speaker 4: And like that's been true. And that network that we 741 00:38:30,880 --> 00:38:34,520 Speaker 4: have is like important, and it's time for us as 742 00:38:34,520 --> 00:38:38,000 Speaker 4: a community to like start sharing it, right, Like Pac said, 743 00:38:38,040 --> 00:38:40,040 Speaker 4: like I got love for my brother, but we can 744 00:38:40,040 --> 00:38:40,600 Speaker 4: never go nowhere. 745 00:38:40,719 --> 00:38:41,680 Speaker 3: Lets's we share with each other. 746 00:38:41,760 --> 00:38:44,840 Speaker 4: It's like time for us to start sharing resources, sharing knowledge, 747 00:38:45,000 --> 00:38:47,279 Speaker 4: you know what I'm saying, sharing experiences so that we 748 00:38:47,320 --> 00:38:47,919 Speaker 4: can all grow. 749 00:38:49,239 --> 00:38:51,440 Speaker 3: Yeah, so networking and let's sharing with each other. 750 00:38:51,480 --> 00:38:55,479 Speaker 2: Man, all right, guys? That is episode four. Spread love, 751 00:38:55,680 --> 00:38:58,120 Speaker 2: Spread spread love. I how you want to spread love? 752 00:38:58,160 --> 00:39:20,359 Speaker 2: Thank you for rocking with us. We see you next week. 753 00:39:26,800 --> 00:39:30,680 Speaker 1: You just realized your business needed to hire someone yesterday. 754 00:39:31,200 --> 00:39:35,399 Speaker 1: How can you find amazing candidates fast? Easy? Just use 755 00:39:35,520 --> 00:39:38,759 Speaker 1: Indeed stop struggling to get your job posts seen on 756 00:39:38,880 --> 00:39:42,760 Speaker 1: other job sites. With Indeed sponsored jobs, your post jumps 757 00:39:42,800 --> 00:39:45,000 Speaker 1: to the top of the page for your relevant candidates, 758 00:39:45,360 --> 00:39:48,400 Speaker 1: so you can reach the people you want faster. According 759 00:39:48,440 --> 00:39:52,120 Speaker 1: to Indeed, data. Sponsored jobs posted directly on Indeed have 760 00:39:52,200 --> 00:39:56,239 Speaker 1: forty five percent more applications than non sponsored jobs. 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