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

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Speaker 1: A lot of people think podcasts about work are boring,

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Speaker 1: National Association Member FDIC erness What's Up? You ever walk

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Speaker 1: pushing your vision forward. Yeah, yeah, we back. You're back man,

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Speaker 1: Happy Thursday.

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Speaker 2: Yes sir, Yes, Sarah. Welcome to the fourth in store

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Speaker 2: moment of our house to series. So this one is important, yes,

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Speaker 2: for a variety of different reasons. But you know, a

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Speaker 2: lot of times we talk about financial literacy and that

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Speaker 2: starts at early ages. So teaching kids about money is

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Speaker 2: extremely important and people don't really know how to go

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Speaker 2: about it a lot of times. And we actually developed

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Speaker 2: a curriculum that we actually have in some school districts

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Speaker 2: now and that actually goes through a lot of different modules.

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Speaker 2: Videos and it kind of explains things. So being that

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Speaker 2: we did that and you know, have a history in education,

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Speaker 2: we wanted to have an episode. We've always been asked

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Speaker 2: a long time. It's like, as far as is the

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Speaker 2: curriculum gonna be made public or you know, tips about

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Speaker 2: teaching kids about money, or how do I get my

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Speaker 2: child into stocks? So this is going to be a conversation,

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Speaker 2: not everything. Obviously it's an hour format, but it's going

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Speaker 2: to be a conversation that will give parents, grandparents, aunts,

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Speaker 2: uncles an opportunity to have talking points to educate children

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Speaker 2: on finances because it's something that's vitally important and if

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Speaker 2: you're not educated on finance and you have to play

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Speaker 2: catch up when you're in your twenties and thirties, you're really,

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Speaker 2: really behind the eight ball. So we have our good

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Speaker 2: friend and colleague, Travis Brown, who's actually a principal in

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Speaker 2: New York City and the person that actually worked with

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Speaker 2: us to develop the curriculum. It's been an educative over

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Speaker 2: twenty years and somebody is just just very, very higher

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Speaker 2: regarded in the world of education. So when developing in curriculum,

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Speaker 2: you can't just write something. You got to actually have it,

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Speaker 2: you know, Vetta checked and go through different guidelines stuff

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Speaker 2: like that. It's a very tedious process. So he helped

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Speaker 2: us on the education side as far as the school side,

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Speaker 2: that that he'll be a perfect person to have on

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Speaker 2: this on this conversation as far as teaching. So yes,

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Speaker 2: let's let'ten bring them on.

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Speaker 1: Travl's good, my brother.

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Speaker 3: What's going on y'all?

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Speaker 1: Yeah, yeah, I'll reiterate what Shatty just said. Man, it's

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Speaker 1: a full circle moment. This started out in the classrooms,

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Speaker 1: so to be back in the classroom in a setting

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Speaker 1: was pretty exciting to see that the people coming together

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Speaker 1: for this curriculum. But coming from an educational background, there

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Speaker 1: is a difference, like you said, between writing a lesson plan,

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Speaker 1: writing a unit plan, and putting together a curriculum. Man,

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Speaker 1: So we thank you wholeheartedly for your assistance in that. Man,

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Speaker 1: we couldn't have done this process without you, my brother.

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Speaker 3: No doubt. I appreciate it, and I gotta tell everybody,

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Speaker 3: I was just really excited to work with the two

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Speaker 3: of you because y'all what y'all are doing in terms

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Speaker 3: of revolutionizing financial education, and as you just said, if

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Speaker 3: we're starting when people are thirty five forty, We're way behind.

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Speaker 3: Young people have nothing but time on their hands. And

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Speaker 3: this when we talk about things like compounding interest, when

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Speaker 3: we talk about investing early, the time is now for

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Speaker 3: young people. And doing this was just an honor because

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Speaker 3: when we bring that down, I think that's the only

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Speaker 3: way we could change the game and really get this

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Speaker 3: financial revolution to snowball effects. So thank you both of

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Speaker 3: you again.

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Speaker 1: Yeah, have your background is education now, but there was

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Speaker 1: a financial journey that you was on earlier.

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Speaker 3: Correct, Yeah, that's the you know, that's the big story

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Speaker 3: and how I really got excited about this and everybody

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Speaker 3: that knows me and we'll listen to the story, long story,

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Speaker 3: long here. You know, when I started out and my

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Speaker 3: career I got, I was part of a IPO and

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Speaker 3: didn't know what the hell of IPO was, you know,

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Speaker 3: twenty one years old, fresh out of college. You know,

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Speaker 3: they tell us to get a job. So I did that,

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Speaker 3: and I was just at the right time, you know,

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Speaker 3: on the market sometimes timing and everything. I was right there.

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Speaker 3: So I received two thousand shares of a stock at

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Speaker 3: eight dollars a share. Later a year later, I sold

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Speaker 3: that at ten dollars a share, and I cry every

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Speaker 3: day because that share price now is well over three

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Speaker 3: hundred dollars. So that's kind of my story and my

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Speaker 3: entry into the market and why I want to share

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Speaker 3: that with other young people. Because if there was a

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Speaker 3: show like Earn Your Leisure at the time it said

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Speaker 3: hold on hold those assets, hold that for ten twenty years,

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Speaker 3: I probably wouldn't be here right now.

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Speaker 4: Good chance, good chance. But we're thankful that you that

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Speaker 4: you are definitely yes. So all right, so we're going

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Speaker 4: to go into it. We got some of a lot

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Speaker 4: of different stuff.

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Speaker 2: But first, I think it's important to kind of talk

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Speaker 2: to educate adults, parents about, you know, how they look

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Speaker 2: at money, how they train to think about money, right,

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Speaker 2: because a lot of times to educate starts from a

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Speaker 2: mis education that adults may have. Right, So let's let's

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Speaker 2: let's start there as far as on the just the

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Speaker 2: mindset concepts that have to be corrected a lot of

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Speaker 2: times before we actually go into the actual item.

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Speaker 3: Yeah, so let's I think this is where we start.

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Speaker 3: As I'm an educator by trade, let's start out in education.

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Speaker 3: But we know our first teacher is our our families,

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Speaker 3: our parents, We know that that's who we spend a

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Speaker 3: lot of time with. That's who we that's who brings

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Speaker 3: us up. And the challenge in our communities, as everybody knows,

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Speaker 3: is that when we don't know about money, we're we're

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Speaker 3: not able to impart those lessons onto our young people.

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Speaker 3: And that's where we have to start. We have to

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Speaker 3: start breaking that cycle. So one thing, I'll jump into

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Speaker 3: the PowerPoint so we can jump right into so when

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Speaker 3: I when, So let's start before we start talking about

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Speaker 3: before we before we start talking about the parent piece,

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Speaker 3: Let's just really the stats are very clear in terms

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Speaker 3: of what we need financial literacy in schools. And I'm

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Speaker 3: going to get to the parent piece in second, but

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Speaker 3: we keep citing these stats over and over again. Forty

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Speaker 3: percent of adults don't have an emergency fund, sixty one

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Speaker 3: percent of adults with paycheck to paycheck. We know about

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Speaker 3: the college debt, and the number number five of the

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Speaker 3: point number five on the creator is that we know

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Speaker 3: that financial literacy is the contributing factor of the wealth

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Speaker 3: gap in America. So I share all of this to say,

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Speaker 3: you know, we've been really good at listening. And what

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Speaker 3: I mean by that is that message around. Go to

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Speaker 3: college and get a job. That's that message that I

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Speaker 3: know our families told us when we when we were

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Speaker 3: going up, they told us, go to college, get that job.

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Speaker 3: I'm pretty sure Vishad you heard that. I know you

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Speaker 3: have issues with college education. Talk about to talk about

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Speaker 3: that later, but the key message was to go to

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Speaker 3: college and get a job. We listen, but we're still broke.

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Speaker 3: We're still broke. Kids are coming out of college with debt,

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Speaker 3: kids are coming out of college where their degrees don't

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Speaker 3: pay them. But we listen to this message over and

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Speaker 3: over again. So that doesn't work for us. So getting

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Speaker 3: a good job doesn't equate the financial freedom. But we

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Speaker 3: know that money is the common denominator of no matter

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Speaker 3: what job you get, so whether you're a doctor, lawyer,

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Speaker 3: or whatever, we know that's the common denominator. So I

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Speaker 3: think we need a new message, and it starts with

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Speaker 3: the new message has to be financial freedom. So it's

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Speaker 3: not about getting a job, it's about getting financially free.

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Speaker 3: And to reshard to your point, that really starts at

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Speaker 3: home with this idea and what we call a hitting curriculum.

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Speaker 3: The hitting curriculum is what we to talk about where

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Speaker 3: there's information and skills that is learned, but not directly

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Speaker 3: from teaching. So you may think, like, what is that?

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Speaker 3: How do we learn something? Not by being directly taught,

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Speaker 3: It's inherited from our parents. That's why when we said,

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Speaker 3: when you go on to someone's refrigerator and you see

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Speaker 3: the type of tomato, I'm sorry to bato paste the

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Speaker 3: ketchup they use, they're probably using the one that their

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Speaker 3: parents use. You're detergent is probably the detergent that your

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Speaker 3: parents use, the same thing with money habits. So this

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Speaker 3: is a big right here. If our parents are our

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Speaker 3: first teachers, we adopt their money mindsets, their behaviors, and

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Speaker 3: also their financial traumas. The way we see the world

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Speaker 3: about money and the value of money comes from our parents.

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Speaker 3: So kids get a front row seat of what we

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Speaker 3: think about money, how we use money, how we spend

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Speaker 3: money every day in our household, and being an educator,

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Speaker 3: I'm on the front line the first time, and I

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Speaker 3: tell people this all the time. The first time kids,

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Speaker 3: especially black and brown kids, learn about money is twelfth grade,

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Speaker 3: where parents have to get transparent about how much they

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Speaker 3: make or financial aid purposes, the college purposes, and then

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Speaker 3: young people start to see for the first time, Woa,

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Speaker 3: my parent makes a lot of money or my parent

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Speaker 3: doesn't make a lot of money. But these conversations can

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Speaker 3: happen a lot earlier so that young people have a

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Speaker 3: more realistic viewpoint on finances and about money. But again,

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Speaker 3: we can only teach what we know, and we know

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Speaker 3: that this hidden language of money is passed down from

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Speaker 3: father to son, mothers to daughters, mothers to sons, and

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Speaker 3: a lot of black and brown people don't have that knowledge.

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Speaker 3: So our young people is at a disadvantage. And it's

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Speaker 3: like we say, it's much easier to build strong children

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Speaker 3: then fix broken adults, But we hear all the time,

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Speaker 3: let's fix your credit, let's fix your finances. This word

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Speaker 3: fix is so big in our space for black and

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Speaker 3: brown people, and we need to change that and we

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Speaker 3: need to build from the young. But first we have

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Speaker 3: to get our parents to understand that there's some things

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Speaker 3: that they have to come to terms with and they

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Speaker 3: have to learn, and they have to sit back and

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Speaker 3: watch deserve because young people learn from them. So the

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Speaker 3: more we learn and the more you do, and the

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Speaker 3: more you educate yourself just by being there, they're going

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Speaker 3: to actually learn and get smarter about money travel.

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Speaker 1: That's interesting as a leader of schools, it's kind of

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Speaker 1: like a two part question. Obviously coming from education, people

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Speaker 1: always ask why did I leave what I leave? And

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Speaker 1: I'm like, yo, I start to feel complicit inside of it, right, Like,

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Speaker 1: I don't know if this dream, or the so called

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Speaker 1: dream that we have of getting the house and the

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Speaker 1: pictures that go into college is ideal anymore. Two things,

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Speaker 1: as you see this younger generation, right, you're seeing kids

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Speaker 1: seventh grade through twelfth grade. You're seeing it year to year.

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Speaker 1: Are you starting to see a mindset shift inside of

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Speaker 1: your young adults?

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Speaker 3: Right?

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Speaker 1: I know you guys offer things that typical the average

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Speaker 1: school doesn't. And what's the mindset from the parents that

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Speaker 1: you're seeing right now? Right? Because this is a financial

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Speaker 1: awakening we like to call it now where we're start

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Speaker 1: to see adult start to learn a little bit more,

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Speaker 1: kids are learning. What are you seeing from both aspects?

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Speaker 3: Yeah, that's a good question. I still we're still seeing

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Speaker 3: that for black and brown families, especially in the communities

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Speaker 3: that I serve, they're still not tapped in or there's

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Speaker 3: a lot of misinformation. Our families are getting a lot

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Speaker 3: of information off of social media, which is 't great

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Speaker 3: in some circumstances, but there's a lot of misinformation out there.

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Speaker 3: Like I think the pandemic where everybody was in like

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Speaker 3: a lot of people ran to the stock market, they

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Speaker 3: ran to investing, they ran to these things. But just

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Speaker 3: like everything else, education is key and research is key,

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Speaker 3: but do our families have the financial mentors and the

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Speaker 3: financial resources to actually get the right information. That's why

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Speaker 3: I respect so much platform like yours and the work

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Speaker 3: that you'll are doing because you're bringing real information that's

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Speaker 3: credible to people. But again, as black and brown people,

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Speaker 3: we're still susceptible to misinformation running the social media, meme stocks,

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Speaker 3: things like that, and that's why education is important, and

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Speaker 3: that's why we have to make sure that it's happening

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Speaker 3: in schools an incredible way that you were with that. Again,

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Speaker 3: that's what we're talking about in terms of our families.

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Speaker 3: They have to understand we our kids learn as we do,

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Speaker 3: and that's really important as we as we look to

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Speaker 3: move our young people forward and in this financial journey,

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Speaker 3: our parents just have to understand that these skills inherited

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Speaker 3: from them, so their mindsets are really important around money.

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Speaker 3: So let's take it for it. Let's take for example.

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Speaker 3: Let's take for example, when I was raised, my household's

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Speaker 3: mindset was a scarcity mindset. We always held on to

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Speaker 3: every dollar. We felt that we never had enough money

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Speaker 3: to buy food, to buy goods. So and I adopted

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Speaker 3: that from my mother. And just because we grew up

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Speaker 3: in projects and we didn't have a lot of money,

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Speaker 3: so I looked at money in terms of as a

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Speaker 3: scarce resource that trickles down to as I get older

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Speaker 3: and what I think about money. So I had to

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Speaker 3: create I had to actually I had to actually dismantle

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Speaker 3: those trauma bonds around money. And this is happening in

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Speaker 3: a lot a lot of families in our community. So

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Speaker 3: the first step is really just to break to understand

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Speaker 3: where you are, do a self reflection on your attitudes,

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Speaker 3: your behavior, and your mindset around money so you're not

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Speaker 3: passing that on to your children. So now one of

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Speaker 3: the things that we also need to talk about, and

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Speaker 3: I know this is a concept that the two of

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Speaker 3: you really stand by, this idea of each one teach

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Speaker 3: one and this is where we get into why we

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Speaker 3: need financial literacy in our schools. And this is why

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Speaker 3: I'm such a big advocate on it is because we know,

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Speaker 3: we know just clearly black and brown people with social learners,

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Speaker 3: we get together and we learn in groups. This is

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Speaker 3: something that you are promote. This is something that we

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Speaker 3: need to promote out there because a lot of our people,

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Speaker 3: black and brown people actually are just getting into the market.

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Speaker 3: So we need a collective to really talk and share information.

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Speaker 3: Schools provide the format for that. I'm a big advocate

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Speaker 3: of pushing this stuff in schools because it's a It's

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Speaker 3: a space where a lot of young people are together

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Speaker 3: and we can grab and we can they can talk

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Speaker 3: about ideas part of what we need to do. That's

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Speaker 3: different than other financial curriculums of where things are failed

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Speaker 3: in the failed in the past, is that a lot

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Speaker 3: of oftentimes we don't talk about the context and history

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Speaker 3: behind our lack of finances, so we don't be studied

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Speaker 3: the past. We become victims of it. So black and

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Speaker 3: brown people have a have a trouble past with finances.

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Speaker 3: We've been left out of finding the finances for a

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Speaker 3: very long time. So we need to talk about that

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Speaker 3: as a community. And then another great piece is students

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Speaker 3: when they start learning in schools, they can actually broken

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Speaker 3: those conversations at home. So when we talk about each one,

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Speaker 3: teach one. Sometimes our families don't know how to start

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Speaker 3: these conversations with our young people around finances. But there's

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Speaker 3: nothing more powerful than a child going home and saying, mom,

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Speaker 3: do you invest? Mom? Do you know about compounding interests? Dad?

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Speaker 3: Do you know what a mutual fund is? A child

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Speaker 3: can lead the way and a lot of these communities

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Speaker 3: that have been broken for a while. And that's why

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Speaker 3: it's really important for us to bridge this gap by

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Speaker 3: bringing financial literacy in schools. And the last thing that

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Speaker 3: I'll touch on to this point is if not us,

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Speaker 3: then who If they wanted us to be educated on

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Speaker 3: this stuff, and I'm saying that they banks, financial institutions,

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Speaker 3: this stuff would have been done already. We can't expect

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Speaker 3: financial organizations to teach us. We have to save us.

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Speaker 3: And that's what YouTube gentlemen are doing is being part

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Speaker 3: of saving us. If we're talking about black and brown

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Speaker 3: communities and getting smarter about finances, you can't wait to

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Speaker 3: you can't wait for outsiders to teach you about money.

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Speaker 3: It's not their responsibility, it's our responsibility. We have to

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Speaker 3: build agency to really start talking about financial literacy and

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Speaker 3: building up our own communities. Again, how long are we

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Speaker 3: going to wait for other people to build up our communities.

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Speaker 1: Yeah, it's like that age old question, right, Like people

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Speaker 1: always talk about, well, I'm gonna leave it up to

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Speaker 1: the school to educate my kids, when I would tell

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Speaker 1: you know, I try to encourage people, like learning doesn't

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Speaker 1: stop when when you walk out those doors, like those

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Speaker 1: four walls of your classroom shouldn't be the only place

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Speaker 1: you're learning. But it makes me think about that age

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Speaker 1: old adage. Right. People will say that the system's broken

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Speaker 1: or the system doesn't work, and there's other people that

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Speaker 1: are saying that, yeah, the system is actually working exactly

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Speaker 1: how it's designed. Why would I teach you about money

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Speaker 1: when I'm always gonna need somebody to pray on, or

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Speaker 1: I'm always to need somebody to employ. I'm never teaching

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Speaker 1: these things. What are your thoughts around that? Obviously, being

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Speaker 1: the leader of a school and of the community, right,

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Speaker 1: because you're principals are not just in the building, right,

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Speaker 1: Like you're the leader of the community. Right when there's

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Speaker 1: an issue going on that happens in the park, you're

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Speaker 1: going to be and learned because it could be your student. Right. So, like,

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Speaker 1: as a leader of community, what's your thoughts around now.

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Speaker 3: Yeah, that's a great question. I think the big thing here,

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Speaker 3: I think principles and other community community leaders, we have

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Speaker 3: a great responsibility to our people and we have a

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Speaker 3: lot of power. But I think sometimes we take a

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Speaker 3: short sided approach to our problems. Money solves a lot

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Speaker 3: of problems that you both have always said. But let

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Speaker 3: me just give you a case in point that we

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Speaker 3: see in a lot of schools, and I would love

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Speaker 3: to hear your take on this. Right, when a child

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Speaker 3: is hungry in school, or child doesn't have clothes, or

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Speaker 3: child's in temporary housing, what do you think the school does?

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Speaker 2: What do they do? Yeah, they call the parents at

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Speaker 2: the hungry you said, if.

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Speaker 3: A child and family is hungry, the child and family

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Speaker 3: they don't have the clothes, what do school leaders typically do?

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Speaker 2: They call services child services and.

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Speaker 3: They essentially they provide those things.

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Speaker 1: I was gonna say, yeah, most times when you see

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Speaker 1: situations like that, they're going to rally around that child.

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Speaker 3: Yeah. So across America and black and brown communities, in

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Speaker 3: the pover's communities, when there's a problem let's say food,

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Speaker 3: food scarcity, lack of clothing, and things like that we provide.

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Speaker 3: You see nothing in communities like the Bronx Detroit, wherever

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Speaker 3: you see schools building pantries for students and families, you see,

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Speaker 3: you see book bag getbacks, you see you see all

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Speaker 3: these drives. You're probably being part of some right m hm.

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Speaker 3: That's a short term approach because I think it's necessary

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Speaker 3: and needed, but it's not because the worst thing I

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Speaker 3: want to see is somebody that I'm giving out food

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Speaker 3: at at seven, coming back to me at seventeen, coming

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Speaker 3: to me back at twenty seven. So I think as

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Speaker 3: community leaders and as principles, we have to take a

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Speaker 3: longer view. Let's teach them to fish instead of giving

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Speaker 3: them the fish. And they may need to fish temporarily

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Speaker 3: because hunger is a real thing. But as we're giving

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Speaker 3: them the fish, let's double back and teach them how

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Speaker 3: to fish also. And I think that's where financial literacy

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Speaker 3: comes in. Our communities have a lot of problems, but

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Speaker 3: I think we take a short sided view in terms

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Speaker 3: of just giving them the thing they need. And I

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Speaker 3: think that is important. Let's not get that if a

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Speaker 3: child is hungry let's feed the child, but that's also

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Speaker 3: let's give them another type of food that says you're

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Speaker 3: going to be hungry. Now, you're probably gonna be hungry

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Speaker 3: again tomorrow, and I'm going to feed you. But my

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Speaker 3: biggest mission as a school or as a community is

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Speaker 3: to make sure in five ten years you're not going

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Speaker 3: to be hungry again. You're not going to be on

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Speaker 3: social services because you start to understand how to save money,

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Speaker 3: grow money, invest money. And I think that's where our communities,

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Speaker 3: especially communities of color, can really level up and ratchet

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Speaker 3: up what we're doing in schools. So again, it's wonderful

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Speaker 3: what we're doing in terms of providing the needs around food,

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Speaker 3: scared and scarcity, because hunger is a real thing. The

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Speaker 3: challenge is it can't stop there. That's necessary, but not sufficient.

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Speaker 3: We have to become part of this financial revolution and

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Speaker 3: our schools because it's the way to grow wealth and

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Speaker 3: stop a seven year old for coming back in fifteen

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Speaker 3: years to grab a loaf of bread, for sure.

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Speaker 2: So all right, so now getting into some actionable items,

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Speaker 2: I want to talk even off script for a little

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Speaker 2: bit about like different ways because like I feel like

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Speaker 2: gamification is vitally important when it comes to teaching anybody

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Speaker 2: about anything, but especially children. Right, So probably one of

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Speaker 2: the first things that I think parents can do is

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Speaker 2: actually gamify finances and make it relatable. So to give

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Speaker 2: you some examples, of course, there's games like Monopoly that's

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Speaker 2: a very good game. But just like if you could

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Speaker 2: create your own game, like you can have budget battles, right,

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Speaker 2: and see, the budget battle is good because that actually

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Speaker 2: forces people to learn vital skills early. So what a

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Speaker 2: budget battle is is, let's say you have two kids, right,

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Speaker 2: and it's two parents and two kids, and we're playing

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Speaker 2: budget battle, right, and we have fake money we'll use

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Speaker 2: like five thousand dollars, right, But then you have a

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Speaker 2: list of items that everybody gets, and you have rent

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Speaker 2: or a mortgage payment at fifteen hundred dollars, you have

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Speaker 2: gas at one hundred dollars, you have genes at two

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Speaker 2: hundred and fifty dollars. So what you do is you

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Speaker 2: put necessities on there, but then you also put things

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Speaker 2: that aren't necessities right on there as well. So you

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Speaker 2: give you give everybody the sheet, right, and then you

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Speaker 2: so now the sheet in total might equal ten thousand dollars,

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Speaker 2: so you're not going to be able to spend all

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Speaker 2: of the money on one thing, so you have to

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00:24:13,680 --> 00:24:17,440
Speaker 2: actually pick what's important to you. So usually a child

432
00:24:17,440 --> 00:24:20,639
Speaker 2: that doesn't have full understanding of life, right, they're gonna

433
00:24:20,640 --> 00:24:23,760
Speaker 2: pick travel, they're gonna pick clothes, they're gonna pick food,

434
00:24:23,760 --> 00:24:27,800
Speaker 2: they're gonna pick going to Disney World. So now you're

435
00:24:27,800 --> 00:24:31,080
Speaker 2: explained to them the consequences of that, right where it's like, okay,

436
00:24:31,160 --> 00:24:34,920
Speaker 2: like now you you spent your five thousand dollars and nowhere,

437
00:24:35,000 --> 00:24:37,720
Speaker 2: nowhere in this five thousand dollars does it have anything

438
00:24:37,760 --> 00:24:40,560
Speaker 2: to do with housing. Nowhere in this five thousand dollars

439
00:24:40,520 --> 00:24:44,119
Speaker 2: to have anything to do with transportation. So now you

440
00:24:44,400 --> 00:24:46,600
Speaker 2: had a good time and you went to Disney World,

441
00:24:46,640 --> 00:24:48,080
Speaker 2: and you have a pair of jeans that you like,

442
00:24:48,600 --> 00:24:51,560
Speaker 2: but now you no longer have anywhere to live. Right,

443
00:24:52,040 --> 00:24:54,960
Speaker 2: And it's rewarded as far as whoever makes the best

444
00:24:55,000 --> 00:24:57,960
Speaker 2: financial decision actually potentially get real money. So like the

445
00:24:57,960 --> 00:25:01,160
Speaker 2: win of the game gets one hundred dollars, let's say. Right, So,

446
00:25:01,240 --> 00:25:05,040
Speaker 2: now what that does is a it teaches them early

447
00:25:06,480 --> 00:25:11,280
Speaker 2: the importance of prioritizing things, right. It also teaches them

448
00:25:11,320 --> 00:25:15,320
Speaker 2: early the value of creating a budget. Creating a budget

449
00:25:15,359 --> 00:25:17,840
Speaker 2: is probably one of the most underrated things when it

450
00:25:17,880 --> 00:25:21,520
Speaker 2: comes to finance. Right, It's like insurance. It's not sexy,

451
00:25:21,560 --> 00:25:24,120
Speaker 2: nobody wants to talk about it, but it's vitally important.

452
00:25:24,119 --> 00:25:26,520
Speaker 2: When you look at Fortune five hundred companies, there's no

453
00:25:26,520 --> 00:25:29,080
Speaker 2: Fortune five hundred company that operates without a budget. The

454
00:25:29,240 --> 00:25:32,920
Speaker 2: United States government operates with a budget, but most people

455
00:25:33,400 --> 00:25:35,280
Speaker 2: have no idea how much money is coming in on

456
00:25:35,320 --> 00:25:37,760
Speaker 2: how much money's coming out. Right, Just think about that.

457
00:25:37,800 --> 00:25:39,919
Speaker 2: Like if you were the CEO of a company and

458
00:25:40,040 --> 00:25:42,359
Speaker 2: somebody asked you how much revenue did you have in

459
00:25:42,720 --> 00:25:45,560
Speaker 2: this year? And you gave them a vague answer, and

460
00:25:45,600 --> 00:25:49,120
Speaker 2: then they said, more importantly, how much money was going out?

461
00:25:49,119 --> 00:25:51,160
Speaker 2: What was your expenses? And you have no answer at all.

462
00:25:51,800 --> 00:25:54,960
Speaker 2: How long do you think that ceo would last? Right?

463
00:25:55,440 --> 00:25:57,520
Speaker 2: Even you you run a school, right, you have to

464
00:25:57,560 --> 00:26:00,159
Speaker 2: know how much you guys are spending. You spend for

465
00:26:00,200 --> 00:26:04,080
Speaker 2: school uniforms, you spend for lunch, Like, that's vitally important

466
00:26:04,119 --> 00:26:08,960
Speaker 2: to know. Most people don't have any idea about that

467
00:26:09,760 --> 00:26:12,399
Speaker 2: because it was never taught to them. It's not a

468
00:26:12,400 --> 00:26:16,000
Speaker 2: complicated thing to teach, but it is vitally important. And

469
00:26:16,560 --> 00:26:19,439
Speaker 2: one thing about habits is that the habits that you

470
00:26:19,560 --> 00:26:22,440
Speaker 2: develop young usually carry with you for a long time.

471
00:26:22,680 --> 00:26:22,840
Speaker 1: Right.

472
00:26:23,160 --> 00:26:25,280
Speaker 2: So it's like eating. This is why it's very important

473
00:26:25,280 --> 00:26:28,560
Speaker 2: to introduce a healthy lifestyle early, because it's difficult to

474
00:26:28,600 --> 00:26:32,080
Speaker 2: make somebody vegan after they ate McDonald's for twenty five years. Right.

475
00:26:32,200 --> 00:26:34,439
Speaker 2: This is why cigarette companies used to target kids at

476
00:26:34,480 --> 00:26:36,199
Speaker 2: a very young age, because they know that if you

477
00:26:36,200 --> 00:26:38,320
Speaker 2: get a child, you get a lifelong customer. This is

478
00:26:38,320 --> 00:26:43,120
Speaker 2: why McDonald's has Ronald McDonald When they have kids parties,

479
00:26:43,560 --> 00:26:47,919
Speaker 2: they target young people because usually the habits that you

480
00:26:48,000 --> 00:26:51,000
Speaker 2: make early you continue for the rest of your life.

481
00:26:51,560 --> 00:26:54,000
Speaker 2: But if you can make good habits early, you can

482
00:26:54,000 --> 00:26:56,800
Speaker 2: continue for the rest of your life. So the budget

483
00:26:56,880 --> 00:27:01,679
Speaker 2: game is something that is a very good way to

484
00:27:04,040 --> 00:27:08,679
Speaker 2: gamify what. You can incentify it as well, but early

485
00:27:08,920 --> 00:27:12,880
Speaker 2: you can teach people the value, teach kids the value

486
00:27:13,480 --> 00:27:17,400
Speaker 2: of what they're spending their money on and the importance

487
00:27:18,119 --> 00:27:23,960
Speaker 2: of having a discipline budget right as opposed to spending

488
00:27:24,040 --> 00:27:26,800
Speaker 2: money fervously. Right, And you have to explain to them

489
00:27:26,880 --> 00:27:32,520
Speaker 2: like why, since you didn't do this, the consequences of

490
00:27:32,560 --> 00:27:37,199
Speaker 2: you not doing this is this, right, So that's something

491
00:27:37,240 --> 00:27:39,919
Speaker 2: that I think is important before we continue. I just

492
00:27:39,920 --> 00:27:44,320
Speaker 2: wanted to kind of start with some level of gamification

493
00:27:44,440 --> 00:27:48,399
Speaker 2: because I do think that that is a major part

494
00:27:48,800 --> 00:27:51,320
Speaker 2: in the learning process. And like I said, that's something

495
00:27:51,320 --> 00:27:53,360
Speaker 2: that you can do a family out and you can

496
00:27:53,400 --> 00:27:55,040
Speaker 2: have a spreadsheet, you can put on the internet. You

497
00:27:55,080 --> 00:27:57,800
Speaker 2: can make it as complex or as simple as you want.

498
00:27:57,840 --> 00:28:02,160
Speaker 2: It's up to you, but it's it's really not difficult.

499
00:28:02,280 --> 00:28:04,520
Speaker 2: And if you are playing games like Monopoly, I think

500
00:28:04,560 --> 00:28:08,720
Speaker 2: it's important to fully explain the Monopoly game, right, like explain,

501
00:28:09,400 --> 00:28:13,320
Speaker 2: you know, why buying property is so vitally important because

502
00:28:13,320 --> 00:28:15,920
Speaker 2: you're getting rent, right, So in the middle of the game,

503
00:28:16,400 --> 00:28:19,320
Speaker 2: just stop. You're gonna learn about finances just by playing

504
00:28:19,320 --> 00:28:20,879
Speaker 2: the game. But I think it's important to kind of

505
00:28:20,880 --> 00:28:24,040
Speaker 2: stop the game and intervals and explain, like, Okay, now,

506
00:28:24,200 --> 00:28:26,560
Speaker 2: the reason why you want to have these houses is

507
00:28:26,560 --> 00:28:29,520
Speaker 2: because you're collecting rent and you're a landlord. Right, So

508
00:28:29,920 --> 00:28:37,080
Speaker 2: now landlords, everybody in real estate is everybody in real estate, right.

509
00:28:37,119 --> 00:28:40,240
Speaker 2: Everybody participates in real estate unless you're homeless. So I

510
00:28:40,280 --> 00:28:43,800
Speaker 2: think it's important to teach children that early. Everybody participates

511
00:28:43,800 --> 00:28:46,440
Speaker 2: in real estate unless you're homeless. So you say, okay,

512
00:28:46,560 --> 00:28:52,000
Speaker 2: now you can participate and pay rent to somebody. Right Now,

513
00:28:52,120 --> 00:28:54,600
Speaker 2: every month you have to pay, and what you're actually

514
00:28:54,600 --> 00:28:56,960
Speaker 2: doing is paying their mortgage, which is a loan from

515
00:28:56,960 --> 00:28:59,800
Speaker 2: the bank, which you learn that in the game. But

516
00:29:00,040 --> 00:29:02,280
Speaker 2: the other side of that is that you have a

517
00:29:02,360 --> 00:29:06,680
Speaker 2: landlord who's actually collecting rent. So there's only two ways

518
00:29:06,680 --> 00:29:11,160
Speaker 2: that you can play this game. You can either pay

519
00:29:11,400 --> 00:29:14,600
Speaker 2: or you can collect, right, that's the that's the two

520
00:29:14,640 --> 00:29:18,120
Speaker 2: ways to go about it. So explaining why it's always

521
00:29:18,120 --> 00:29:21,720
Speaker 2: going to be better usually to be on the collecting

522
00:29:21,800 --> 00:29:25,400
Speaker 2: side as opposed to the paying side, I think is

523
00:29:25,440 --> 00:29:31,120
Speaker 2: something that in a game like Monopoly, when you fully

524
00:29:31,520 --> 00:29:35,680
Speaker 2: explain it, break it down now, you start to have

525
00:29:35,800 --> 00:29:38,240
Speaker 2: more of an appreciation as opposed to just playing a

526
00:29:38,240 --> 00:29:40,800
Speaker 2: game just just trying to win. Right. Like I said,

527
00:29:40,840 --> 00:29:43,240
Speaker 2: it's it's still beneficial in that way, but if you

528
00:29:43,280 --> 00:29:46,680
Speaker 2: can actually start to explain it, even in very elementary,

529
00:29:46,720 --> 00:29:49,520
Speaker 2: easy to understand ways to go about it, and even

530
00:29:49,560 --> 00:29:53,680
Speaker 2: the strategy of buying the same street, right, that's a strategy,

531
00:29:53,680 --> 00:29:56,040
Speaker 2: that's a real estate strategy. It's like okay, we want

532
00:29:56,040 --> 00:29:59,040
Speaker 2: all we want all blue, we want boardwalk, and we

533
00:29:59,080 --> 00:30:02,320
Speaker 2: want all of those blue properties, because usually it's going

534
00:30:02,360 --> 00:30:04,640
Speaker 2: to work better if you buy real estate close to

535
00:30:04,680 --> 00:30:07,080
Speaker 2: each other. Right, there's a reason why most people that

536
00:30:07,120 --> 00:30:10,240
Speaker 2: have large real estate portfolios it's in clusters. They don't

537
00:30:10,280 --> 00:30:12,720
Speaker 2: have like one house in Michigan, one house and all beneath.

538
00:30:12,800 --> 00:30:17,040
Speaker 2: Because you learn the market, you get familiar with the

539
00:30:17,040 --> 00:30:22,040
Speaker 2: town government, right, you have incentives. It's easier for you

540
00:30:22,200 --> 00:30:26,120
Speaker 2: to manipulate the situation when you have things close by

541
00:30:26,280 --> 00:30:29,880
Speaker 2: in a cluster. That's another thing that you learn in monopoly,

542
00:30:29,960 --> 00:30:33,600
Speaker 2: like it's more beneficial to own a set as opposed

543
00:30:33,600 --> 00:30:37,240
Speaker 2: to just owning everything randomly. Right. So little stuff like

544
00:30:37,280 --> 00:30:40,040
Speaker 2: that when you when you start to train children and

545
00:30:40,920 --> 00:30:42,760
Speaker 2: even adults, but you start to train them in the

546
00:30:42,800 --> 00:30:45,880
Speaker 2: form of gamification, and then you're explaining it to them

547
00:30:46,120 --> 00:30:49,920
Speaker 2: as you're actually playing. I think that that's a major

548
00:30:50,320 --> 00:30:54,719
Speaker 2: step in them getting to understand the dynamics of how

549
00:30:55,040 --> 00:30:56,360
Speaker 2: money and business works.

550
00:30:57,040 --> 00:31:01,520
Speaker 3: I agree, and I think once you start to gamify something,

551
00:31:01,960 --> 00:31:04,120
Speaker 3: young people get Really we see it in education all

552
00:31:04,160 --> 00:31:06,840
Speaker 3: the time, and I think that's the entry way to

553
00:31:06,960 --> 00:31:09,719
Speaker 3: actually putting our money where our mouth is and one

554
00:31:09,720 --> 00:31:11,479
Speaker 3: of the easiest ways to jump in and do it

555
00:31:11,480 --> 00:31:15,520
Speaker 3: for real now is through an allowance, right right right,

556
00:31:15,640 --> 00:31:18,480
Speaker 3: And that's a number, and that's a really when we

557
00:31:18,480 --> 00:31:22,440
Speaker 3: talk about gamification as one, I would say coming right

558
00:31:22,960 --> 00:31:25,360
Speaker 3: in terms of second is in terms of like, now,

559
00:31:25,400 --> 00:31:28,560
Speaker 3: how do we really get in get in the market

560
00:31:28,640 --> 00:31:30,680
Speaker 3: and really put our money into it. And one thing

561
00:31:31,040 --> 00:31:33,800
Speaker 3: that allowance does because a lot of families, a lot

562
00:31:33,800 --> 00:31:37,080
Speaker 3: of parents do allowances with young people. And there are

563
00:31:37,120 --> 00:31:40,080
Speaker 3: different ways you can look at your allowance, but the

564
00:31:40,120 --> 00:31:42,720
Speaker 3: biggest thing is and that where we get a really

565
00:31:42,720 --> 00:31:46,760
Speaker 3: big advantage is you get kids to start understanding the

566
00:31:46,920 --> 00:31:52,360
Speaker 3: value of money before an allowance is introduced. Money comes

567
00:31:52,400 --> 00:31:56,080
Speaker 3: from out of the blue, It comes out of your pocket,

568
00:31:56,080 --> 00:31:59,080
Speaker 3: it comes out of machine, an ATM machine. Young people

569
00:31:59,200 --> 00:32:02,320
Speaker 3: have no have no concept and no value of money there.

570
00:32:02,640 --> 00:32:05,160
Speaker 3: So we hear parents scream all the time you think

571
00:32:05,200 --> 00:32:09,440
Speaker 3: money grows on trees And the answer is yes, because

572
00:32:10,600 --> 00:32:12,640
Speaker 3: we ask for it and we get it. And that

573
00:32:12,720 --> 00:32:15,480
Speaker 3: builds a sense of entitlement in young people. So when

574
00:32:15,680 --> 00:32:19,440
Speaker 3: parents that's why I'm a big advocate of putting an allowance,

575
00:32:20,680 --> 00:32:23,800
Speaker 3: putting an allowance structure in so young people start to

576
00:32:23,960 --> 00:32:28,360
Speaker 3: associate money with work and money with hard work. That

577
00:32:28,560 --> 00:32:32,880
Speaker 3: I get money when I do some form of physical

578
00:32:32,960 --> 00:32:38,000
Speaker 3: labor or even knowledge labor. So we see allowances being

579
00:32:38,840 --> 00:32:42,240
Speaker 3: connected to doing chores. That's the most common one connected

580
00:32:42,240 --> 00:32:47,400
Speaker 3: to chores. There's pros and constant of course, in terms

581
00:32:47,440 --> 00:32:50,120
Speaker 3: of paying kids for being in the community space, but

582
00:32:50,160 --> 00:32:53,680
Speaker 3: that's the most common one. But then we start to

583
00:32:53,680 --> 00:32:56,680
Speaker 3: see that it's connected to more knowledge work, like we're

584
00:32:56,680 --> 00:32:59,320
Speaker 3: going to pay you ten dollars if you read a

585
00:32:59,360 --> 00:33:02,120
Speaker 3: certain number of paid is a day or a week,

586
00:33:02,880 --> 00:33:06,280
Speaker 3: or the number of a's you get in school. So

587
00:33:06,320 --> 00:33:10,200
Speaker 3: we're connecting again money to some sort of work. And

588
00:33:10,240 --> 00:33:12,360
Speaker 3: I want to just highlight it could be the physical

589
00:33:12,480 --> 00:33:15,920
Speaker 3: labor of making your bad taking out the trash, or

590
00:33:16,280 --> 00:33:19,040
Speaker 3: connecting it to knowledge work, which is really important of course,

591
00:33:19,040 --> 00:33:21,440
Speaker 3: because we're in a knowledge economy. We want young people

592
00:33:21,440 --> 00:33:24,800
Speaker 3: to get smarter, so it's connected to there. The third

593
00:33:24,840 --> 00:33:28,960
Speaker 3: way that's getting more speed and traction is giving an

594
00:33:29,000 --> 00:33:35,560
Speaker 3: allowance to actually play the game of money. So it's

595
00:33:35,640 --> 00:33:39,440
Speaker 3: not connected to something you do or output. It's connected

596
00:33:39,480 --> 00:33:41,160
Speaker 3: to I'm going to give Troy. I'm going to give

597
00:33:41,200 --> 00:33:44,680
Speaker 3: you one hundred dollars because I want you to learn

598
00:33:45,000 --> 00:33:48,000
Speaker 3: what to do with the money. So it's not connected.

599
00:33:48,000 --> 00:33:50,600
Speaker 3: So every week you got one hundred dollars. So now

600
00:33:50,640 --> 00:33:53,400
Speaker 3: you have a certain amount of money, and now we

601
00:33:53,440 --> 00:33:55,480
Speaker 3: can start to have a conversation around with this one

602
00:33:55,560 --> 00:33:58,400
Speaker 3: hundred dollars, how are you going to budget? To your

603
00:33:58,520 --> 00:34:00,720
Speaker 3: point with Shad, you're getting a hundred dollars a week,

604
00:34:00,960 --> 00:34:02,080
Speaker 3: how are you going to budget?

605
00:34:02,160 --> 00:34:04,400
Speaker 2: Well, another thing that you can do for that to

606
00:34:04,480 --> 00:34:09,000
Speaker 2: incentifize learning is because let's be honest, right, you have

607
00:34:09,080 --> 00:34:11,160
Speaker 2: to give people incentives for them to be motivated a

608
00:34:11,200 --> 00:34:15,239
Speaker 2: lot of times, especially kids. So it's like educating them

609
00:34:15,440 --> 00:34:20,360
Speaker 2: on different figures are important as well. But so it's like, okay, you,

610
00:34:21,880 --> 00:34:24,840
Speaker 2: I need you to do a two page report on

611
00:34:25,400 --> 00:34:28,680
Speaker 2: ten different people. If every time you complete this report,

612
00:34:28,880 --> 00:34:31,919
Speaker 2: I'll give you twenty five dollars. Right, but these people

613
00:34:31,960 --> 00:34:34,239
Speaker 2: are going to be business people because they already know

614
00:34:34,280 --> 00:34:36,440
Speaker 2: who Lebron jams. They already know who Rihanna is. So

615
00:34:36,480 --> 00:34:38,879
Speaker 2: I need you to I need you to research who

616
00:34:38,960 --> 00:34:41,680
Speaker 2: Robert Smith is, right, and I need you to write

617
00:34:41,680 --> 00:34:43,759
Speaker 2: a two page report and I'll give you twenty five

618
00:34:43,800 --> 00:34:48,239
Speaker 2: dollars when that report is completed. Right, you're incentivizing their

619
00:34:48,600 --> 00:34:50,560
Speaker 2: their education and their learning. Now they're not looking at

620
00:34:50,600 --> 00:34:53,520
Speaker 2: like it's punishment, because nobody's going to be overly excited

621
00:34:53,520 --> 00:34:55,840
Speaker 2: at twelve years old to learn about who he is.

622
00:34:55,920 --> 00:34:59,399
Speaker 2: I'm just being honest, right, But when you give them

623
00:34:59,400 --> 00:35:03,160
Speaker 2: some montory already gain from it. Now they have no

624
00:35:03,280 --> 00:35:04,719
Speaker 2: they have no choice, even if they don't like it

625
00:35:04,840 --> 00:35:06,680
Speaker 2: or not. And the good thing about that is that

626
00:35:06,880 --> 00:35:10,000
Speaker 2: even they still probably won't be enthusiastic about doing it,

627
00:35:10,400 --> 00:35:14,000
Speaker 2: but it's already done, and now it's in their brain now, right,

628
00:35:14,239 --> 00:35:16,120
Speaker 2: And you do that for ten weeks straight. Now, you

629
00:35:16,160 --> 00:35:19,160
Speaker 2: pick Robert Smith, you pick David Stewart, you pick a

630
00:35:19,239 --> 00:35:22,760
Speaker 2: variety of different people that have he reached high levels

631
00:35:22,800 --> 00:35:26,040
Speaker 2: of success in business. Right, And these are people that

632
00:35:26,040 --> 00:35:28,000
Speaker 2: they're never going to learn about in school, and they're

633
00:35:28,040 --> 00:35:30,120
Speaker 2: never going to learn about on their own. Until they

634
00:35:30,120 --> 00:35:32,280
Speaker 2: get older. They might have, you know, just some interest

635
00:35:32,320 --> 00:35:35,680
Speaker 2: in that. But if you expose them to that early,

636
00:35:35,760 --> 00:35:39,000
Speaker 2: not only are you educating you're killing a few birds

637
00:35:39,000 --> 00:35:41,400
Speaker 2: in one stone with this, right. Not only are you

638
00:35:41,600 --> 00:35:45,080
Speaker 2: educating them on who these people are. It's like Black

639
00:35:45,160 --> 00:35:47,719
Speaker 2: History Month, right when we have to learn we have

640
00:35:47,840 --> 00:35:51,560
Speaker 2: to learn who you know, different people are. We had

641
00:35:51,640 --> 00:35:53,760
Speaker 2: to learn who Martin Luther King was we had no choice,

642
00:35:53,760 --> 00:35:55,399
Speaker 2: like they taught us it, right, and then that gave

643
00:35:55,440 --> 00:35:58,000
Speaker 2: us an appreciation for the for the story. So when

644
00:35:58,000 --> 00:36:00,000
Speaker 2: you learn who Robert Smith is, a few things happened.

645
00:36:00,480 --> 00:36:04,080
Speaker 2: A It broadens your horizon on success because you realize

646
00:36:04,080 --> 00:36:06,480
Speaker 2: that there's other people that's successful other than just what

647
00:36:06,520 --> 00:36:10,000
Speaker 2: the media is telling you. It also educates you on

648
00:36:10,080 --> 00:36:11,719
Speaker 2: things that you didn't know because you're gonna learn about

649
00:36:11,760 --> 00:36:14,480
Speaker 2: private equity and you probably never even heard of that

650
00:36:14,520 --> 00:36:19,000
Speaker 2: as a kid. Right. And then it's also going to

651
00:36:19,080 --> 00:36:22,040
Speaker 2: potentially lead an interest on the career path side as well.

652
00:36:22,480 --> 00:36:22,640
Speaker 1: Right.

653
00:36:22,680 --> 00:36:24,000
Speaker 2: And like I said that, these are the seeds that

654
00:36:24,000 --> 00:36:26,759
Speaker 2: you just plant. Now, it might not be fully, you

655
00:36:26,840 --> 00:36:30,279
Speaker 2: might not be involved in this right now today. But

656
00:36:30,640 --> 00:36:33,839
Speaker 2: by doing this intentionally, you gotta be intentional with learning.

657
00:36:33,960 --> 00:36:34,120
Speaker 1: Right.

658
00:36:34,400 --> 00:36:39,240
Speaker 2: So if you're doing this with your child intentionally, now

659
00:36:39,840 --> 00:36:44,759
Speaker 2: they really have no choice but to be highly educated

660
00:36:45,320 --> 00:36:48,960
Speaker 2: on people that the vast majority of society doesn't even know.

661
00:36:49,239 --> 00:36:51,759
Speaker 2: Just think about that, if you did that for ten weeks, right,

662
00:36:52,200 --> 00:36:54,600
Speaker 2: and you took some of the wealthiest, some of the

663
00:36:54,600 --> 00:36:57,520
Speaker 2: most successful black people in America that's not in sports

664
00:36:57,520 --> 00:37:01,960
Speaker 2: and entertainment, right, just by doing that for ten weeks, right,

665
00:37:02,760 --> 00:37:04,879
Speaker 2: and you paid them twenty five dollars, that would be

666
00:37:05,280 --> 00:37:06,960
Speaker 2: a couple hundred dollars. And the grants cheme thing, it's

667
00:37:06,960 --> 00:37:09,799
Speaker 2: not going to make or break the situation. They will learn.

668
00:37:09,920 --> 00:37:14,400
Speaker 2: They would be more educated on those people than ninety

669
00:37:14,400 --> 00:37:19,480
Speaker 2: percent of adults. That's a fact. Adults won't even know

670
00:37:19,520 --> 00:37:22,160
Speaker 2: those who those people are, let alone be able to

671
00:37:22,200 --> 00:37:26,040
Speaker 2: have enough information to write a page or a two

672
00:37:26,040 --> 00:37:27,080
Speaker 2: page report about them.

673
00:37:27,560 --> 00:37:30,440
Speaker 3: I agree. I think what you bring up, which is

674
00:37:30,960 --> 00:37:33,680
Speaker 3: which as you were speaking, is this idea that we're

675
00:37:33,800 --> 00:37:36,719
Speaker 3: use in sports a lot, and it's this idea of

676
00:37:36,840 --> 00:37:39,560
Speaker 3: hero talk. When you talk to young people, you talk,

677
00:37:39,600 --> 00:37:42,279
Speaker 3: it's called hero talk or role model talk. You say

678
00:37:42,360 --> 00:37:46,360
Speaker 3: something like what would Lebron James do? Because they know

679
00:37:46,480 --> 00:37:49,520
Speaker 3: so much about Lebron James. So now when you get

680
00:37:49,520 --> 00:37:53,000
Speaker 3: these new mentors from researching and learning about people, when

681
00:37:53,040 --> 00:37:56,160
Speaker 3: a young person gets a lot of money, you can say, now,

682
00:37:57,120 --> 00:38:00,400
Speaker 3: with your understanding of Robert Smith, what would Robin Smith do?

683
00:38:02,160 --> 00:38:06,759
Speaker 3: So it changed conversation, and or what would what would

684
00:38:06,800 --> 00:38:10,680
Speaker 3: Troy and Rashaan do in this situation? So mentor talk

685
00:38:10,760 --> 00:38:14,920
Speaker 3: or hero talk is deeply connected with acquiring new skills

686
00:38:15,160 --> 00:38:20,759
Speaker 3: but also pausing and thinking about what someone else would

687
00:38:20,800 --> 00:38:24,879
Speaker 3: do and as given situation, and providing learning to give

688
00:38:24,920 --> 00:38:27,440
Speaker 3: you inside in terms of what you think you should

689
00:38:27,480 --> 00:38:30,760
Speaker 3: do next, because oftentimes young people don't have that step

690
00:38:30,760 --> 00:38:33,600
Speaker 3: back moment to say, let me think about what such

691
00:38:33,640 --> 00:38:36,360
Speaker 3: and such would do in this situation. So when we

692
00:38:36,400 --> 00:38:39,719
Speaker 3: talk about decision making, we do it automatically. As adults.

693
00:38:40,000 --> 00:38:43,120
Speaker 3: We think about what our friends would do, what people

694
00:38:43,880 --> 00:38:45,920
Speaker 3: that we think are smarter than us would do, what

695
00:38:46,040 --> 00:38:48,799
Speaker 3: people coas to us would do. Young people don't do

696
00:38:48,880 --> 00:38:51,359
Speaker 3: that so much, or they do it they don't have

697
00:38:51,440 --> 00:38:56,680
Speaker 3: the mentors. So now we're giving the mental mentors to say, hmm,

698
00:38:57,120 --> 00:39:01,040
Speaker 3: I got ten thousand dollars from from a birthday gift.

699
00:39:02,680 --> 00:39:06,600
Speaker 3: I actually have a mentor or someone to look up

700
00:39:06,640 --> 00:39:08,359
Speaker 3: to to figure out what do I think they would

701
00:39:08,400 --> 00:39:11,799
Speaker 3: do in the situation to really guide their decisions. So

702
00:39:11,840 --> 00:39:15,839
Speaker 3: I think that's an excellent strategy around teaching them to

703
00:39:15,920 --> 00:39:19,560
Speaker 3: go out there and learn about other people financial titans,

704
00:39:19,600 --> 00:39:23,360
Speaker 3: smart people, entrepreneurs, because it gives them a mental model

705
00:39:23,600 --> 00:39:26,000
Speaker 3: to see the world. It gives them a different perspectives

706
00:39:26,000 --> 00:39:28,200
Speaker 3: to see the world and also see the world of money,

707
00:39:28,200 --> 00:39:31,160
Speaker 3: which is really important in which way typically lacking.

708
00:39:32,040 --> 00:39:34,920
Speaker 1: Yeah, and it brings up a couple of things inside

709
00:39:34,960 --> 00:39:37,839
Speaker 1: of that conversation. The movie Hitting Figures just comes to mind.

710
00:39:37,920 --> 00:39:40,480
Speaker 1: Right when we figured out what these young ladies were doing,

711
00:39:40,520 --> 00:39:42,600
Speaker 1: it was like, this is astronomical, Like we should have

712
00:39:42,640 --> 00:39:45,440
Speaker 1: known these stories for so long, and when you do that,

713
00:39:45,560 --> 00:39:47,640
Speaker 1: now you uncover more of these hit I mean they're

714
00:39:47,640 --> 00:39:50,080
Speaker 1: in plain sight, they're not even hidden, but the greatness

715
00:39:50,080 --> 00:39:52,440
Speaker 1: hasn't been displayed. When you were talking about the instead

716
00:39:52,480 --> 00:39:54,400
Speaker 1: of fives learning, it just made me think. I'm like,

717
00:39:54,920 --> 00:39:58,200
Speaker 1: when you start school, everything is a centervized learning, right

718
00:39:58,239 --> 00:39:59,799
Speaker 1: when you're in kindergarten, when you're a first grade at

719
00:39:59,840 --> 00:40:02,040
Speaker 1: l entry level, it's how do I get the sticker

720
00:40:02,080 --> 00:40:04,040
Speaker 1: on my test? Or how do I get to go

721
00:40:04,080 --> 00:40:06,279
Speaker 1: to the teacher and get a jolly rancher because I

722
00:40:06,280 --> 00:40:07,839
Speaker 1: got one hundred on my spelling? You know what I mean.

723
00:40:08,120 --> 00:40:11,320
Speaker 1: It's always the incentive. Even as you get into the secondary,

724
00:40:11,360 --> 00:40:15,960
Speaker 1: early secondary, sixth middle school is there's still positive behavior

725
00:40:16,000 --> 00:40:19,160
Speaker 1: and structural systems and this reward system. The incentive is there.

726
00:40:19,400 --> 00:40:23,239
Speaker 1: It feels like in high school that changes. It's like

727
00:40:23,840 --> 00:40:26,960
Speaker 1: what becomes now the tangible incentive and if you think

728
00:40:26,960 --> 00:40:30,800
Speaker 1: about how we're learning, because that's important too. Activity based

729
00:40:30,880 --> 00:40:35,840
Speaker 1: learning not as prevalent, project based learning not as prevalent.

730
00:40:36,000 --> 00:40:38,440
Speaker 1: What we do have is to structures in front of

731
00:40:38,440 --> 00:40:42,920
Speaker 1: the teacher and listen for forty five minutes. How do

732
00:40:43,000 --> 00:40:45,400
Speaker 1: we and this just open up the thought how do

733
00:40:45,440 --> 00:40:48,560
Speaker 1: we incentivize it? And it's to make it more encouragent

734
00:40:48,560 --> 00:40:51,320
Speaker 1: where educators feel like this is something that we should

735
00:40:51,320 --> 00:40:53,719
Speaker 1: be doing. And how do we from I guess from

736
00:40:53,760 --> 00:40:56,520
Speaker 1: a leadership team decide like what is the new incentive

737
00:40:56,800 --> 00:40:59,439
Speaker 1: for this level of education? Yeah?

738
00:40:59,480 --> 00:41:01,760
Speaker 3: I think that's I think that's a big question in education,

739
00:41:02,000 --> 00:41:05,000
Speaker 3: like what's the purpose of traditional education?

740
00:41:05,200 --> 00:41:05,359
Speaker 1: Now?

741
00:41:05,680 --> 00:41:09,480
Speaker 3: I think we we we have to start answering that again.

742
00:41:09,719 --> 00:41:13,600
Speaker 3: And we know that, especially on a college front, a

743
00:41:13,600 --> 00:41:16,160
Speaker 3: lot of the degrees that young people are getting its

744
00:41:16,200 --> 00:41:22,879
Speaker 3: disconnected from the labor force, So you know, and what

745
00:41:22,880 --> 00:41:24,680
Speaker 3: what do we need to how do we need to

746
00:41:24,680 --> 00:41:29,000
Speaker 3: rethink that as well? There's because I think it's really

747
00:41:29,040 --> 00:41:33,920
Speaker 3: important to understand that there's there's value in learning and

748
00:41:34,000 --> 00:41:37,920
Speaker 3: becoming smarter about something, right, So I don't want to

749
00:41:38,160 --> 00:41:40,200
Speaker 3: I don't want to miss that point really, and we

750
00:41:40,320 --> 00:41:43,399
Speaker 3: need people to learn a lot of disciplines. I think

751
00:41:43,440 --> 00:41:46,120
Speaker 3: the challenge is is that we're we're housing young people

752
00:41:46,120 --> 00:41:50,000
Speaker 3: in the school right and in a complex and telling

753
00:41:50,040 --> 00:41:53,879
Speaker 3: them to move this one way and not tapping into

754
00:41:53,920 --> 00:41:58,279
Speaker 3: their curiosities of interests. And I think that's where I

755
00:41:58,280 --> 00:42:01,480
Speaker 3: think that's where we start to where the system breaks down.

756
00:42:01,520 --> 00:42:04,279
Speaker 3: Where we're sitting young people in a complex saying sit

757
00:42:04,360 --> 00:42:08,560
Speaker 3: in these roads, just do this, and we actually don't

758
00:42:08,640 --> 00:42:10,799
Speaker 3: care about what you think, what you want to do.

759
00:42:11,480 --> 00:42:15,000
Speaker 3: And I think that's where a lot of challenges come in.

760
00:42:15,000 --> 00:42:17,960
Speaker 3: And then we duplicate that into a college piece as well,

761
00:42:18,200 --> 00:42:21,400
Speaker 3: and young people are going to college and they're graduating,

762
00:42:21,640 --> 00:42:24,319
Speaker 3: especially black and brown kids, and then they're looking at

763
00:42:24,360 --> 00:42:27,200
Speaker 3: us like, now what I don't want to do this.

764
00:42:28,000 --> 00:42:31,120
Speaker 3: I'm not This is not exciting to me anymore. But

765
00:42:31,160 --> 00:42:35,320
Speaker 3: I think that's where financial literacy comes in even more importantly,

766
00:42:35,440 --> 00:42:39,120
Speaker 3: Like when you're financially free, you get to make decisions.

767
00:42:39,640 --> 00:42:41,960
Speaker 3: It's freedom in that you get to learn what you

768
00:42:42,040 --> 00:42:44,279
Speaker 3: want to learn, you get to figure out things you

769
00:42:44,320 --> 00:42:46,600
Speaker 3: want to figure out, and honestly, also you get to

770
00:42:46,640 --> 00:42:50,239
Speaker 3: start stuff. I think the biggest thing in education that

771
00:42:50,280 --> 00:42:53,160
Speaker 3: we have to change is and we see it in

772
00:42:53,280 --> 00:42:57,840
Speaker 3: different types of schools. They're asking different questions, what do

773
00:42:57,880 --> 00:42:59,840
Speaker 3: you want to create, what do you want to be?

774
00:43:01,040 --> 00:43:03,279
Speaker 3: What do you want to disrupt, what do you want

775
00:43:03,280 --> 00:43:07,080
Speaker 3: to redesign? And we're asking black and brown kids. We're

776
00:43:07,080 --> 00:43:09,680
Speaker 3: not even asking the questions. We're telling them what they

777
00:43:09,719 --> 00:43:12,600
Speaker 3: need to learn. And I think we have to start

778
00:43:13,160 --> 00:43:16,719
Speaker 3: thinking about what's the purpose of education because we're just

779
00:43:16,760 --> 00:43:22,080
Speaker 3: in a new world. And when we talk about entrepreneurship entrepreneurship,

780
00:43:22,560 --> 00:43:26,680
Speaker 3: we're not getting entrepreneurs out of our schools because we're

781
00:43:26,680 --> 00:43:31,240
Speaker 3: creating workers. Our Our system is set up for workers.

782
00:43:31,239 --> 00:43:34,880
Speaker 3: So earn your legion the platform we talk about entrepreneurship.

783
00:43:35,120 --> 00:43:38,680
Speaker 3: But as our parents and our educators have to understand,

784
00:43:39,480 --> 00:43:43,759
Speaker 3: they lose curiosity as they move through our education system.

785
00:43:44,040 --> 00:43:46,160
Speaker 1: The kid who's the entrepreneur and the school is the

786
00:43:46,200 --> 00:43:49,120
Speaker 1: kid who's he's more likely to get in trouble, right

787
00:43:49,239 --> 00:43:52,200
Speaker 1: for creating an entrepreneurial even if he was selling candy,

788
00:43:52,480 --> 00:43:54,279
Speaker 1: or if he was selling hats, or he was selling

789
00:43:54,320 --> 00:43:57,600
Speaker 1: T shirts inside the school, he's not in the principal's office.

790
00:43:57,800 --> 00:44:01,279
Speaker 3: Yeah, we don't teach him how to scale listening, how

791
00:44:01,280 --> 00:44:04,400
Speaker 3: to think about marketing, how to think about how to

792
00:44:04,440 --> 00:44:09,160
Speaker 3: do it legally right where where they can grow those curiosities.

793
00:44:09,400 --> 00:44:12,319
Speaker 3: So we have to we have to really reimagine what

794
00:44:12,440 --> 00:44:15,560
Speaker 3: education should look like, especially for black and brown people.

795
00:44:16,000 --> 00:44:18,360
Speaker 3: If we want to create more entrepreneurs in our system,

796
00:44:18,680 --> 00:44:22,200
Speaker 3: create more economic advancement in our communities, they need to

797
00:44:22,239 --> 00:44:25,319
Speaker 3: break stuff. They need to break shit, they need to

798
00:44:25,360 --> 00:44:26,200
Speaker 3: teagle with stuff.

799
00:44:26,440 --> 00:44:28,160
Speaker 2: And I think also, I know we're going to go

800
00:44:28,200 --> 00:44:30,439
Speaker 2: through some some videos as far as on the curriculum side,

801
00:44:30,440 --> 00:44:36,880
Speaker 2: but it's important to have field trips. That's that's imperative.

802
00:44:38,080 --> 00:44:40,080
Speaker 2: And I feel like, you know, even for me, like

803
00:44:40,360 --> 00:44:42,919
Speaker 2: you know, I went to Wall Street with my dad.

804
00:44:42,960 --> 00:44:44,560
Speaker 2: This is before non A levels, so this is when

805
00:44:44,600 --> 00:44:46,440
Speaker 2: you can actually walk around Wall Street and you know,

806
00:44:46,760 --> 00:44:49,040
Speaker 2: it was just inspiring to see. But I feel like

807
00:44:49,200 --> 00:44:52,799
Speaker 2: even from a history standpoint, it's important even to go

808
00:44:52,840 --> 00:44:55,160
Speaker 2: to black Wall Street. That's important to kind of see,

809
00:44:55,640 --> 00:44:59,280
Speaker 2: you know what history, why it was so vitally important

810
00:44:59,480 --> 00:45:04,480
Speaker 2: for power structure to destroy black business because that's a

811
00:45:04,520 --> 00:45:08,160
Speaker 2: real threat, right and to see a thriving black community

812
00:45:08,200 --> 00:45:11,279
Speaker 2: and the history or how it was destroyed, like that's

813
00:45:11,320 --> 00:45:15,000
Speaker 2: something that's vitally important. We learn about slavery a lot,

814
00:45:15,120 --> 00:45:20,479
Speaker 2: but we don't learn about business, and that that's part

815
00:45:20,520 --> 00:45:22,799
Speaker 2: of that's part of the story, that's part of the legacy. Also,

816
00:45:23,360 --> 00:45:30,839
Speaker 2: but taking taking trips related to business is important. And

817
00:45:30,880 --> 00:45:34,160
Speaker 2: then also movie night, like that's how I actually got

818
00:45:34,640 --> 00:45:37,640
Speaker 2: into finances about Granted, I'm a little different because I

819
00:45:37,640 --> 00:45:40,680
Speaker 2: was already already interested in business. Everybody's not interested in business,

820
00:45:40,760 --> 00:45:42,680
Speaker 2: and everybody's not going to become an entrepreneur, but you

821
00:45:42,680 --> 00:45:44,560
Speaker 2: could at least introduce it to them. And one of

822
00:45:44,560 --> 00:45:48,280
Speaker 2: the best ways to introduce anything to anybody is through entertainment.

823
00:45:48,480 --> 00:45:50,800
Speaker 2: This is why we're so intrigued with so many negative

824
00:45:50,800 --> 00:45:54,360
Speaker 2: things because we've been introduced to it through entertainment, whether

825
00:45:54,600 --> 00:45:56,920
Speaker 2: it's through movies or music. Right, think about it, Like

826
00:45:56,960 --> 00:45:59,840
Speaker 2: a lot of the negative things that permeonate in our culture,

827
00:46:00,120 --> 00:46:03,720
Speaker 2: we've been introduced to it. We've been introduced through gangs

828
00:46:04,239 --> 00:46:07,640
Speaker 2: through music and film. For the most part, if you

829
00:46:07,640 --> 00:46:10,360
Speaker 2: didn't live in La you didn't know what gangs was

830
00:46:10,480 --> 00:46:12,920
Speaker 2: like that La Chicago didn't know what that was. So

831
00:46:13,400 --> 00:46:15,560
Speaker 2: that got introduced when we started to see movies like

832
00:46:15,600 --> 00:46:18,239
Speaker 2: Boys in the Hood and Minister Society and then NWA

833
00:46:18,280 --> 00:46:24,440
Speaker 2: and Snoop. That introduced that to everybody, and it was interesting,

834
00:46:24,880 --> 00:46:29,479
Speaker 2: it was attractive. Right, people get introduced to different types

835
00:46:29,520 --> 00:46:32,160
Speaker 2: of drugs and different things that nature because they hear

836
00:46:32,200 --> 00:46:36,120
Speaker 2: it in music, Like I heard about Scissor and Lean.

837
00:46:36,160 --> 00:46:38,520
Speaker 2: I didn't know what that was. I'm hearing it in

838
00:46:38,560 --> 00:46:42,000
Speaker 2: the record. And then now you start to understand, Oh,

839
00:46:42,080 --> 00:46:44,680
Speaker 2: this is actually cough syrup that they do in Houston,

840
00:46:44,719 --> 00:46:47,239
Speaker 2: Texas and they putting Jolly ranchers inside of it, and

841
00:46:47,320 --> 00:46:49,320
Speaker 2: you see and it slows down. Now you understand, like

842
00:46:49,320 --> 00:46:51,799
Speaker 2: why they play their music slow, And it's like, oh,

843
00:46:51,840 --> 00:46:55,480
Speaker 2: they slowed down because they're actually they're like it's like

844
00:46:55,520 --> 00:46:57,880
Speaker 2: a dope fiend state, right, Like they're slow when they

845
00:46:57,960 --> 00:47:00,080
Speaker 2: actually do it, so that would make sense while and

846
00:47:00,080 --> 00:47:02,120
Speaker 2: when they're listening to it because of it. So these

847
00:47:02,120 --> 00:47:05,759
Speaker 2: are all negative, but just how you can learn from

848
00:47:05,840 --> 00:47:08,759
Speaker 2: negative things, you can also reverse engineer that and have

849
00:47:08,800 --> 00:47:10,760
Speaker 2: positive things. So it's like for me, I was watching

850
00:47:10,840 --> 00:47:15,160
Speaker 2: movies that weren't kid movies, but it was interesting to me,

851
00:47:15,280 --> 00:47:17,399
Speaker 2: like Barbarians at the Gate and Wall Street, and I'm

852
00:47:17,400 --> 00:47:18,960
Speaker 2: sure there's a bunch of other new movies that have

853
00:47:19,000 --> 00:47:22,120
Speaker 2: come out over the last thirty years, but be intentional

854
00:47:22,160 --> 00:47:24,319
Speaker 2: when you're having a movie night with your kids, be

855
00:47:24,440 --> 00:47:30,720
Speaker 2: intentional about having some level of entertainment that's also going

856
00:47:30,760 --> 00:47:33,600
Speaker 2: to open their eyes and be educational, especially in the

857
00:47:33,600 --> 00:47:35,680
Speaker 2: world of business. And there's a lot of things that

858
00:47:36,280 --> 00:47:39,040
Speaker 2: are geared towards that and still entertaining. All of those

859
00:47:39,080 --> 00:47:43,759
Speaker 2: movies Barb even Boiler Room. It wasn't the most you know,

860
00:47:44,040 --> 00:47:46,200
Speaker 2: it's talking about like some level of criminal activity, but

861
00:47:46,239 --> 00:47:49,040
Speaker 2: it's still interesting. R like what I mean, it's interesting

862
00:47:49,080 --> 00:47:50,800
Speaker 2: to learn. Like then they're on Wall Street, they're doing this,

863
00:47:51,000 --> 00:47:52,279
Speaker 2: like this is crazy, like you know what I mean.

864
00:47:52,320 --> 00:47:55,400
Speaker 2: So now then you have talks after that, like conversations

865
00:47:55,400 --> 00:47:56,800
Speaker 2: like what you think about that? Like you do you

866
00:47:56,880 --> 00:47:58,640
Speaker 2: ever know about that? You know about stock brokers, you

867
00:47:58,640 --> 00:48:01,840
Speaker 2: know about stuff like that. So that's also vitally important

868
00:48:01,880 --> 00:48:04,040
Speaker 2: as well. These are little things like we're going to

869
00:48:04,040 --> 00:48:05,840
Speaker 2: talk about like lesson planning and stuff like that. But

870
00:48:05,880 --> 00:48:07,160
Speaker 2: a lot of times, what I'm trying to say is

871
00:48:07,200 --> 00:48:09,799
Speaker 2: that it's not as complicated as as you might make

872
00:48:09,840 --> 00:48:12,000
Speaker 2: it out to be. We can make this more complicated

873
00:48:12,160 --> 00:48:15,080
Speaker 2: if you want, but for the average person, you know,

874
00:48:15,120 --> 00:48:17,960
Speaker 2: you're working all day, you don't have time to really

875
00:48:18,040 --> 00:48:20,600
Speaker 2: you know, be a full time professor, but you could

876
00:48:20,600 --> 00:48:24,280
Speaker 2: still have time to actually open your mind to different

877
00:48:24,360 --> 00:48:26,600
Speaker 2: worlds and open your kids' minds just by being a

878
00:48:26,640 --> 00:48:27,640
Speaker 2: little bit more intentional.

879
00:48:28,040 --> 00:48:31,080
Speaker 1: And I would challenge I'll second that out. And what

880
00:48:31,120 --> 00:48:33,359
Speaker 1: we talked about earlier being passed down, right, like having

881
00:48:33,440 --> 00:48:36,960
Speaker 1: a parent who was an entrepreneur. That helps, right, because

882
00:48:37,040 --> 00:48:41,960
Speaker 1: it's a different landscape than the average person that we're

883
00:48:42,000 --> 00:48:45,560
Speaker 1: looking at it, Like for our parents both in our lives.

884
00:48:45,840 --> 00:48:47,719
Speaker 1: I watched my dad go to work. I don't know

885
00:48:47,719 --> 00:48:50,120
Speaker 1: what he did, but I know he worked for somebody, Right,

886
00:48:50,160 --> 00:48:53,680
Speaker 1: that's it. But I want to challenge educators and school leaders.

887
00:48:53,920 --> 00:48:56,360
Speaker 1: I think what you're saying is very important about the

888
00:48:56,440 --> 00:48:59,440
Speaker 1: trips that we're putting in front of our young adults

889
00:49:00,000 --> 00:49:03,839
Speaker 1: in middle school. Maybe you weren't even there yet. They

890
00:49:03,880 --> 00:49:05,800
Speaker 1: had one trip in when I was in middle school,

891
00:49:05,800 --> 00:49:09,759
Speaker 1: and it was to scare straight. That was the trip,

892
00:49:09,960 --> 00:49:13,120
Speaker 1: like getting permissions to slide. And I'm like, why would

893
00:49:13,239 --> 00:49:15,000
Speaker 1: we Like, why are they people started up to go

894
00:49:15,040 --> 00:49:17,840
Speaker 1: to this right scared? Like you go into a prison.

895
00:49:18,400 --> 00:49:20,600
Speaker 1: The prison they're there to scare you to make sure

896
00:49:20,640 --> 00:49:22,319
Speaker 1: that you never come in here. But I'm like, yo,

897
00:49:22,800 --> 00:49:25,880
Speaker 1: wouldn't it be more advantageous to show us something that's positive.

898
00:49:26,239 --> 00:49:27,759
Speaker 1: And so when it was our turn to come around

899
00:49:27,760 --> 00:49:29,000
Speaker 1: when we were doing the program, I was like, now

900
00:49:29,000 --> 00:49:31,040
Speaker 1: we're gonna take them to the African burial ground that's

901
00:49:31,040 --> 00:49:33,520
Speaker 1: in New York City. That's easy, right, We're gonna take

902
00:49:33,560 --> 00:49:34,920
Speaker 1: them to Hall, We're gonna take them to the museum,

903
00:49:34,920 --> 00:49:36,279
Speaker 1: We're gonna take them to the Moment, We're gonna take

904
00:49:36,280 --> 00:49:38,360
Speaker 1: them to Wall Street. We want to show them different

905
00:49:38,400 --> 00:49:41,839
Speaker 1: aspects of life. So educator is like, if you don't

906
00:49:41,840 --> 00:49:45,319
Speaker 1: talk to your colleagues, whatever your team, your grade level is,

907
00:49:45,360 --> 00:49:47,719
Speaker 1: or you don't talk to school leadership, those trips to

908
00:49:47,800 --> 00:49:51,960
Speaker 1: the movies, that's cool, but is it gonna advance them? Right,

909
00:49:52,400 --> 00:49:54,839
Speaker 1: Tessa's in your neighborhood. Are you going to be able

910
00:49:54,880 --> 00:49:57,040
Speaker 1: to now go talking about innovation and see what they

911
00:49:57,040 --> 00:49:58,840
Speaker 1: can help bring to your school. When I was in

912
00:49:59,160 --> 00:50:02,120
Speaker 1: elementary school, took us to McDonald's because that was the

913
00:50:02,160 --> 00:50:05,040
Speaker 1: local business in the neighborhood. They tell us how to

914
00:50:05,040 --> 00:50:06,640
Speaker 1: own it. There was like, Yo, there's a happy mails

915
00:50:06,640 --> 00:50:08,879
Speaker 1: you can do. My kids they go to trips, they're

916
00:50:08,880 --> 00:50:11,480
Speaker 1: going to PepsiCo. Well, why I have to explain to them, like,

917
00:50:11,480 --> 00:50:14,759
Speaker 1: that's important. That's a fortune five hundred company right there.

918
00:50:15,600 --> 00:50:19,480
Speaker 1: Challenge educators, challenge school leaders and parents. Here's where I

919
00:50:19,520 --> 00:50:21,000
Speaker 1: want our kids to go. This is the type of

920
00:50:21,000 --> 00:50:23,279
Speaker 1: things I want my kids to be seeing. Everybody plays

921
00:50:23,280 --> 00:50:23,719
Speaker 1: a part in it.

922
00:50:23,960 --> 00:50:26,000
Speaker 2: And then also, I think I think it's important too

923
00:50:26,160 --> 00:50:29,160
Speaker 2: to play off your child's interest because it's every child

924
00:50:29,280 --> 00:50:31,480
Speaker 2: is interested in something. So if you got a girl,

925
00:50:31,480 --> 00:50:35,000
Speaker 2: they might be interested in makeup, right, Okay, that's cool.

926
00:50:35,320 --> 00:50:38,680
Speaker 2: Now introduced there's a lot of people that's making money

927
00:50:39,400 --> 00:50:44,399
Speaker 2: influences entrepreneurs in the makeup space, right, even Rihanna. You can't, like, okay,

928
00:50:44,440 --> 00:50:46,479
Speaker 2: write a report. I don't want to know about Rihanna's music.

929
00:50:46,480 --> 00:50:49,040
Speaker 2: I want to know about Finty. I want I want

930
00:50:49,080 --> 00:50:51,920
Speaker 2: you to explain to me the business behind this, right,

931
00:50:52,080 --> 00:50:54,759
Speaker 2: Like that's something that they already be interested in. If

932
00:50:54,800 --> 00:50:56,799
Speaker 2: they're interested in makeup, they might not. They don't want

933
00:50:56,800 --> 00:50:59,000
Speaker 2: to learn about cars, they might not. They might not

934
00:50:59,040 --> 00:51:01,760
Speaker 2: be interested to them, right, But everybody's interested in something,

935
00:51:01,800 --> 00:51:03,840
Speaker 2: and everything is a business. So it's like, all right,

936
00:51:03,880 --> 00:51:07,239
Speaker 2: if their kid is interested in music, now expose them

937
00:51:07,280 --> 00:51:09,080
Speaker 2: to the business side of music. If your kid is

938
00:51:09,120 --> 00:51:12,680
Speaker 2: interested in cars, exposed to them the business side of cars.

939
00:51:12,880 --> 00:51:16,879
Speaker 2: The kid is interested in makeup, exposed fashion, expose them

940
00:51:16,960 --> 00:51:19,520
Speaker 2: to the business side of that. Right, Like, that's another

941
00:51:19,560 --> 00:51:21,680
Speaker 2: way too, because it's like nine times out of ten,

942
00:51:21,680 --> 00:51:24,120
Speaker 2: you're gonna be more interested in learning about something on

943
00:51:24,160 --> 00:51:26,520
Speaker 2: the business side if you actually have interest in it.

944
00:51:26,680 --> 00:51:30,360
Speaker 2: Even sports. If you're interested in basketball, you could play basketball,

945
00:51:30,400 --> 00:51:33,040
Speaker 2: but also learn about who Rich Paul. You got to

946
00:51:33,040 --> 00:51:35,359
Speaker 2: tell me who Rich Paul is. You got to tell

947
00:51:35,400 --> 00:51:38,239
Speaker 2: me about guaranteed contract first, not guarant like we have.

948
00:51:38,360 --> 00:51:40,680
Speaker 2: We're gonna have a sports conversation. We're going to talk

949
00:51:40,719 --> 00:51:43,680
Speaker 2: about it's going to be interesting because you're you're you're

950
00:51:43,760 --> 00:51:46,440
Speaker 2: interested in basketball, but this is going to be a

951
00:51:46,480 --> 00:51:50,000
Speaker 2: business conversation as opposed to just who scores the most points.

952
00:51:50,080 --> 00:51:52,120
Speaker 1: That's a fact. That's a fact that I love the

953
00:51:52,120 --> 00:51:55,600
Speaker 1: makeup thing because it's like, yo, they like makeup. Hey,

954
00:51:55,960 --> 00:51:58,040
Speaker 1: hey Selena Gomess, you just became a billionaire of that,

955
00:51:58,239 --> 00:52:00,520
Speaker 1: or hey, we're going to so Ford is a publicly

956
00:52:00,520 --> 00:52:04,000
Speaker 1: traded company, right, These are the these are the conversation.

957
00:52:04,040 --> 00:52:08,640
Speaker 1: You're already doing them, right Like Alter Alter beauty, This

958
00:52:08,680 --> 00:52:11,040
Speaker 1: is a publicly traded company. You know how much money

959
00:52:11,040 --> 00:52:12,880
Speaker 1: you're spending there in a year. If you got a

960
00:52:12,920 --> 00:52:17,960
Speaker 1: teenage daughter, come on, it's already happening, right, you're already

961
00:52:18,000 --> 00:52:20,040
Speaker 1: a consumer of it. Like you said, it starts. I'm

962
00:52:20,040 --> 00:52:21,680
Speaker 1: glad we started with mindset because it starts with the

963
00:52:21,719 --> 00:52:24,359
Speaker 1: mindset understanding that this is a business and somebody owns

964
00:52:24,360 --> 00:52:27,239
Speaker 1: this business. In fact, we're helping this business every time

965
00:52:27,280 --> 00:52:30,440
Speaker 1: we shop here. So again, be intentional about it, like

966
00:52:30,440 --> 00:52:31,960
Speaker 1: if it's a ready part of your naturally, you don't

967
00:52:31,960 --> 00:52:34,960
Speaker 1: have to go like, hey, we're gonna go nah. If

968
00:52:34,960 --> 00:52:37,000
Speaker 1: you're doing these things, or if you're dropping them off

969
00:52:37,040 --> 00:52:39,799
Speaker 1: at the mall and they're shopping at these stores, these

970
00:52:39,800 --> 00:52:42,799
Speaker 1: are opportunities. These are like when you try to take

971
00:52:42,840 --> 00:52:45,959
Speaker 1: that out of branch like it's already, it's there. It's there.

972
00:52:46,080 --> 00:52:48,160
Speaker 1: You gotta take advantage of it. But you need to

973
00:52:48,160 --> 00:52:50,080
Speaker 1: be you have to have an understanding of education as well.

974
00:52:50,120 --> 00:52:53,440
Speaker 2: But another thing that you can do is so getting

975
00:52:53,480 --> 00:52:56,719
Speaker 2: a little bit more on the technical side. If they're

976
00:52:56,719 --> 00:53:00,879
Speaker 2: interested in something. Another way to gamify this situation is

977
00:53:01,000 --> 00:53:04,080
Speaker 2: to work with them, or you could just have them

978
00:53:04,120 --> 00:53:06,840
Speaker 2: do it, but create a business plan for a business

979
00:53:06,840 --> 00:53:11,160
Speaker 2: that they want to start right, and this is easier

980
00:53:11,160 --> 00:53:14,879
Speaker 2: to do now than ever because of artificial intelligence. So

981
00:53:15,040 --> 00:53:17,080
Speaker 2: you can literally go and chat GBT on any of

982
00:53:17,080 --> 00:53:21,200
Speaker 2: these sites and just put a put a business plan together. Right.

983
00:53:22,120 --> 00:53:23,719
Speaker 2: You could just say what you want and it'll put

984
00:53:23,719 --> 00:53:26,440
Speaker 2: a business plan together for you now, but now you

985
00:53:26,520 --> 00:53:28,040
Speaker 2: go through it with them, right. So now it's like,

986
00:53:28,200 --> 00:53:30,320
Speaker 2: this is the business plan, but now I gotta explain

987
00:53:30,440 --> 00:53:34,400
Speaker 2: do you know what profit and loss is? No, you

988
00:53:34,400 --> 00:53:36,200
Speaker 2: got to explain it. And if you don't know yourself,

989
00:53:36,239 --> 00:53:38,160
Speaker 2: now you got to research it. Right, And it's like,

990
00:53:38,239 --> 00:53:40,440
Speaker 2: do you know what the target market is? Because they

991
00:53:40,440 --> 00:53:42,239
Speaker 2: could have no. They could just say I want to

992
00:53:42,280 --> 00:53:44,719
Speaker 2: start a car business and I want to sell a

993
00:53:44,760 --> 00:53:47,080
Speaker 2: thousand cars. You chat GBT gonna give you a business

994
00:53:47,120 --> 00:53:51,360
Speaker 2: plan If that's not learning, but now looking at it

995
00:53:51,480 --> 00:53:54,160
Speaker 2: is learning, right, So the idea you don't even really

996
00:53:54,160 --> 00:53:57,080
Speaker 2: got to put because now when you when you say okay,

997
00:53:57,080 --> 00:53:58,920
Speaker 2: no this needs to be done this now you But

998
00:53:59,120 --> 00:54:02,480
Speaker 2: just going through the busines plan itself is an education

999
00:54:02,960 --> 00:54:05,000
Speaker 2: because you're going to learn what a target market is,

1000
00:54:05,080 --> 00:54:07,440
Speaker 2: You're going to learn what marketing or marketing with is marketing?

1001
00:54:07,440 --> 00:54:09,640
Speaker 2: Now I got to explain this so going through that

1002
00:54:09,760 --> 00:54:12,920
Speaker 2: line item, now you say, okay, now do this and

1003
00:54:12,960 --> 00:54:15,080
Speaker 2: you can kind of tie it to something. If this

1004
00:54:15,160 --> 00:54:19,680
Speaker 2: passed the check, then I'm going to you got to

1005
00:54:19,800 --> 00:54:21,759
Speaker 2: entrepreneur in your family, got somebody ida he's going to

1006
00:54:21,800 --> 00:54:24,239
Speaker 2: be the judge. Right. If he says this is a

1007
00:54:24,280 --> 00:54:26,640
Speaker 2: good business and he's going to invest in it, now

1008
00:54:26,880 --> 00:54:29,120
Speaker 2: you win. If he says it's not a good business

1009
00:54:29,160 --> 00:54:32,080
Speaker 2: and he doesn't like the idea, then you got to

1010
00:54:32,120 --> 00:54:33,799
Speaker 2: go back to the drawing board and you gotta make it,

1011
00:54:34,040 --> 00:54:37,560
Speaker 2: make it more appealing, right, Like that's a good way

1012
00:54:37,560 --> 00:54:41,160
Speaker 2: to kind of learn about business from a technical standpoint.

1013
00:54:41,520 --> 00:54:43,520
Speaker 2: And like I said, it's easier now to do than

1014
00:54:43,600 --> 00:54:48,880
Speaker 2: ever because all you gotta do is tell any AI

1015
00:54:49,000 --> 00:54:52,120
Speaker 2: app to do it, and it'll spit out a detailed

1016
00:54:53,200 --> 00:54:54,799
Speaker 2: skeleton of a business.

1017
00:54:54,520 --> 00:54:56,879
Speaker 1: Plan and you're watching it too. It's not like this

1018
00:54:56,960 --> 00:55:00,600
Speaker 1: is some far skeedched idea. Like if you' the Bronx

1019
00:55:00,960 --> 00:55:05,200
Speaker 1: and you're watching KI, you know that Dud's from your neighborhood, right, Like,

1020
00:55:05,280 --> 00:55:09,040
Speaker 1: this is the most popular guy in any media form.

1021
00:55:09,120 --> 00:55:09,239
Speaker 2: Right.

1022
00:55:09,239 --> 00:55:11,920
Speaker 1: You can put any actor, even athletes, they're coming to

1023
00:55:11,920 --> 00:55:14,160
Speaker 1: see him. John Cena came to his basement. He didn't

1024
00:55:14,160 --> 00:55:16,000
Speaker 1: go to It wasn't the other way around. Kim Mahart

1025
00:55:16,080 --> 00:55:17,640
Speaker 1: sat in his basement. It wasn't you know, I mean, NICKI,

1026
00:55:18,000 --> 00:55:19,560
Speaker 1: they're all in his basement. This is a kid from

1027
00:55:19,560 --> 00:55:22,799
Speaker 1: the Bronx. I'm watching some of my former students with him, like,

1028
00:55:22,960 --> 00:55:25,239
Speaker 1: this is obtainable and so you can do it. What

1029
00:55:25,280 --> 00:55:26,960
Speaker 1: they're learning and I see that he's learning. Now is

1030
00:55:27,000 --> 00:55:30,160
Speaker 1: the business behind it? Right? Like, yes, I have this popularity,

1031
00:55:30,239 --> 00:55:32,920
Speaker 1: Yes I have this attention. How I create business around it?

1032
00:55:32,960 --> 00:55:34,840
Speaker 1: So it's definitely tangible for us.

1033
00:55:34,880 --> 00:55:38,200
Speaker 2: It always works better when you gamified. Education always works

1034
00:55:38,200 --> 00:55:42,760
Speaker 2: better in multiples or groups. That's vitally important.

1035
00:55:42,760 --> 00:55:43,879
Speaker 1: That's what we said the project based.

1036
00:55:44,040 --> 00:55:47,800
Speaker 2: So it's like if you have multiple kids, it's better

1037
00:55:47,880 --> 00:55:51,879
Speaker 2: to have two kids doing it against each other. What's

1038
00:55:51,880 --> 00:55:54,400
Speaker 2: even better is if you have a team. So now

1039
00:55:54,480 --> 00:55:58,359
Speaker 2: if you bring a bunch of kids together for Thanksgiving

1040
00:55:58,480 --> 00:56:03,120
Speaker 2: or whatever, right, and now you have three teams? Are three? Right?

1041
00:56:03,160 --> 00:56:06,480
Speaker 2: And now they're actually now they all have to present plans,

1042
00:56:07,120 --> 00:56:10,239
Speaker 2: and now you decide which team wins. That's even better

1043
00:56:10,280 --> 00:56:13,760
Speaker 2: than I'm working individually, because now they actually get to

1044
00:56:13,800 --> 00:56:15,040
Speaker 2: talk to each other. We used to do that when

1045
00:56:15,040 --> 00:56:17,520
Speaker 2: we're in the classroom and just have different stuff for

1046
00:56:17,800 --> 00:56:21,520
Speaker 2: the kids to do, and now they're having conversations with

1047
00:56:21,560 --> 00:56:25,239
Speaker 2: each other, everybody's engaged. That helps the learning process even

1048
00:56:25,239 --> 00:56:27,279
Speaker 2: more and it makes it even more competitive. It's very

1049
00:56:27,320 --> 00:56:32,600
Speaker 2: important to have these competitive aspects to it because gamifying

1050
00:56:32,640 --> 00:56:37,080
Speaker 2: it is good, but competition is even better.

1051
00:56:37,360 --> 00:56:39,120
Speaker 1: And that competition doesn't even have to be in an

1052
00:56:39,120 --> 00:56:42,520
Speaker 1: athletic field, and a lot of kids don't have athletic prowess,

1053
00:56:42,520 --> 00:56:44,360
Speaker 1: and so they're able to compete in the classroom and

1054
00:56:44,360 --> 00:56:46,920
Speaker 1: that makes it even better. But as you're saying, I'm

1055
00:56:46,920 --> 00:56:48,480
Speaker 1: thinking to myself, like, what are we going to do

1056
00:56:48,640 --> 00:56:51,440
Speaker 1: at our gatherings at Christmas at Thanksgiving? You know what

1057
00:56:51,480 --> 00:56:54,280
Speaker 1: we're gonna do. We're gonna see who can dance the best?

1058
00:56:55,040 --> 00:56:58,399
Speaker 3: Right, And that's right, that's our issue, right, We're going.

1059
00:56:58,320 --> 00:56:59,919
Speaker 1: To see who can dance the best. We're gonna see

1060
00:56:59,920 --> 00:57:02,520
Speaker 1: you who can freestyle. We want we want to see

1061
00:57:02,520 --> 00:57:04,760
Speaker 1: who got the best, who can put this TikTok together

1062
00:57:05,320 --> 00:57:07,000
Speaker 1: and see if we can go back. That's what we're

1063
00:57:07,000 --> 00:57:09,160
Speaker 1: going to do. And we've done that for so many years,

1064
00:57:09,600 --> 00:57:11,600
Speaker 1: like we've got to change it. We've got to challenge

1065
00:57:11,640 --> 00:57:16,120
Speaker 1: ourselves like this is all right. We've been entertained long enough.

1066
00:57:16,560 --> 00:57:18,840
Speaker 1: We've we've got to educate ourselves. We got to get ahead.

1067
00:57:19,040 --> 00:57:22,960
Speaker 1: And if you're gathering as a family with better tone, right,

1068
00:57:23,320 --> 00:57:23,640
Speaker 1: And I.

1069
00:57:23,600 --> 00:57:28,320
Speaker 3: Think the competition point is really lands well, because business

1070
00:57:28,320 --> 00:57:33,200
Speaker 3: is competition. So that's this this duel that happens in business.

1071
00:57:33,640 --> 00:57:39,080
Speaker 3: When we get young people that attractiveness of competition, this

1072
00:57:39,200 --> 00:57:43,120
Speaker 3: grows legs. It's transferable to business in real life. So

1073
00:57:43,240 --> 00:57:47,120
Speaker 3: getting young people together in a competition space to figure

1074
00:57:47,160 --> 00:57:50,920
Speaker 3: out how can I be better than the next business,

1075
00:57:51,120 --> 00:57:54,800
Speaker 3: It's something that will actually carry as they look forward

1076
00:57:54,880 --> 00:57:57,480
Speaker 3: and try to become business owners. And one of the

1077
00:57:57,520 --> 00:58:01,600
Speaker 3: things that I would also add to dissecting to your

1078
00:58:01,640 --> 00:58:05,920
Speaker 3: point Michard, in terms of a big piece is not

1079
00:58:05,960 --> 00:58:09,160
Speaker 3: only understanding why a business would work, but why a

1080
00:58:09,200 --> 00:58:13,520
Speaker 3: business would not work. Getting young people to start understanding

1081
00:58:13,520 --> 00:58:16,560
Speaker 3: when we talk about entrepreneurship, what are the pitfalls, what

1082
00:58:16,600 --> 00:58:19,280
Speaker 3: are the drawbacks, and what are the disadvantages of the

1083
00:58:19,360 --> 00:58:23,439
Speaker 3: business as they get older, helps them just helps them

1084
00:58:23,560 --> 00:58:27,560
Speaker 3: understand business better because oftentimes people have a great idea,

1085
00:58:28,200 --> 00:58:30,520
Speaker 3: but they can't execute on those things or they don't

1086
00:58:30,600 --> 00:58:33,680
Speaker 3: understand the constraints, So getting young people to also not

1087
00:58:33,800 --> 00:58:37,160
Speaker 3: only say, Okay, I have this business plan, but what

1088
00:58:37,520 --> 00:58:40,400
Speaker 3: what are the what are the drawbacks of this business plan?

1089
00:58:40,920 --> 00:58:44,440
Speaker 3: What what what would lead this not to work? How

1090
00:58:44,520 --> 00:58:47,600
Speaker 3: would this? How would this fail in the market? And

1091
00:58:47,960 --> 00:58:50,600
Speaker 3: this helps you become a better business planner as a

1092
00:58:50,640 --> 00:58:53,760
Speaker 3: young person, So not only thinking about the pros or something,

1093
00:58:54,000 --> 00:58:55,920
Speaker 3: but always thinking about the cons and how do you

1094
00:58:55,960 --> 00:58:56,919
Speaker 3: plan for those as well?

1095
00:58:57,240 --> 00:59:00,440
Speaker 2: Now I did this. So there was a Business Skillslympics

1096
00:59:00,440 --> 00:59:04,720
Speaker 2: that happens every year and it was like thirty thinker

1097
00:59:04,760 --> 00:59:07,919
Speaker 2: piably still exists, but like twenty thirty high schools from

1098
00:59:08,600 --> 00:59:10,880
Speaker 2: the area that we live in in County and they

1099
00:59:10,880 --> 00:59:14,200
Speaker 2: would come together and they were it was that I

1100
00:59:14,560 --> 00:59:19,919
Speaker 2: think it was in marilynch one of these big Wall

1101
00:59:19,960 --> 00:59:22,560
Speaker 2: Street banks, and they would come on the campus and

1102
00:59:22,640 --> 00:59:26,680
Speaker 2: they were given a Harvard case study, right, and they

1103
00:59:26,720 --> 00:59:30,040
Speaker 2: had to dissect the Harvard kse study and they had

1104
00:59:30,080 --> 00:59:34,120
Speaker 2: to present their their ideas on it how they would

1105
00:59:34,160 --> 00:59:37,120
Speaker 2: solve the problem. Right, And they were breaking they breaking

1106
00:59:37,120 --> 00:59:39,280
Speaker 2: the teams. They get everybody gets the same case study

1107
00:59:39,520 --> 00:59:41,320
Speaker 2: and they break in the teams. And then they have

1108
00:59:41,360 --> 00:59:44,920
Speaker 2: a coach and I was the coach for my school

1109
00:59:45,480 --> 00:59:50,320
Speaker 2: and we go over different you know, pros cons you know,

1110
00:59:50,360 --> 00:59:53,120
Speaker 2: and then everybody's gotta you know how you're going to

1111
00:59:53,160 --> 00:59:57,160
Speaker 2: present the information. So this is not just theoretical, it

1112
00:59:57,240 --> 00:59:59,960
Speaker 2: actually happens in real world, right, and and that's it's

1113
01:00:00,240 --> 01:00:04,280
Speaker 2: it's a way to learn, and it's when you are

1114
01:00:04,400 --> 01:00:08,960
Speaker 2: at competition against other people. It's been proven. This is why,

1115
01:00:09,040 --> 01:00:13,840
Speaker 2: like most employers, they would they hire athletes before they

1116
01:00:13,920 --> 01:00:16,919
Speaker 2: hire somebody. I've known this first hand, especially in any

1117
01:00:16,960 --> 01:00:20,680
Speaker 2: sales job. If anybody's working in a sales job, on

1118
01:00:20,760 --> 01:00:23,240
Speaker 2: your resume, if you've played a sport, you're at a

1119
01:00:23,280 --> 01:00:25,680
Speaker 2: bigger advantage than somebody that does not play a sport.

1120
01:00:25,720 --> 01:00:27,280
Speaker 2: This is people who have told me because they're like,

1121
01:00:27,480 --> 01:00:29,680
Speaker 2: if you play a sport, that lets them know that

1122
01:00:29,720 --> 01:00:32,640
Speaker 2: you have some level of competition. You're a competitive person,

1123
01:00:33,040 --> 01:00:36,480
Speaker 2: You've you've been able to navigate and work with teammates,

1124
01:00:36,800 --> 01:00:39,960
Speaker 2: you have worked with coaches. These are all things that

1125
01:00:40,040 --> 01:00:42,640
Speaker 2: are going to help you in real world scenarios. So

1126
01:00:44,160 --> 01:00:48,280
Speaker 2: drilling that and making that you know that competition while

1127
01:00:48,280 --> 01:00:51,040
Speaker 2: you're actually gamifying. It doesn't have to be something big

1128
01:00:51,120 --> 01:00:53,920
Speaker 2: like we usuld do it you know, give kids Chipotle,

1129
01:00:55,320 --> 01:00:56,560
Speaker 2: so you don't got to give them like, you know,

1130
01:00:56,760 --> 01:00:59,200
Speaker 2: crazy amount of money. You'd be surprised, Like you know,

1131
01:00:59,280 --> 01:01:02,440
Speaker 2: you give kids to give kids a gift card, give kids,

1132
01:01:02,840 --> 01:01:06,080
Speaker 2: you know, fifty dollars. Put it for a video game

1133
01:01:06,160 --> 01:01:08,600
Speaker 2: something like that, Like that'll make them go crazy, like

1134
01:01:08,600 --> 01:01:10,480
Speaker 2: they'll do anything like to try to win that.

1135
01:01:10,640 --> 01:01:14,400
Speaker 1: So they're doing the pizza party wants a market period,

1136
01:01:15,080 --> 01:01:16,720
Speaker 1: Like we're gonna wait a three months to get a

1137
01:01:16,720 --> 01:01:19,680
Speaker 1: pizza party?

1138
01:01:19,800 --> 01:01:24,240
Speaker 2: Yeah, got it, got it, got it. Incentivized learning. But okay,

1139
01:01:24,280 --> 01:01:26,880
Speaker 2: but I think we have a couple of so I

1140
01:01:26,880 --> 01:01:28,760
Speaker 2: think it's be cool if we do this because we

1141
01:01:28,800 --> 01:01:34,600
Speaker 2: do have a couple of even videos from our curriculum, right,

1142
01:01:34,720 --> 01:01:36,480
Speaker 2: So maybe we can show a couple of videos, then

1143
01:01:36,480 --> 01:01:39,560
Speaker 2: we can kind of talk about the video after we

1144
01:01:39,600 --> 01:01:39,880
Speaker 2: show it.

1145
01:01:40,000 --> 01:01:42,240
Speaker 1: Yeah, you want to just tell them about Earners Academy

1146
01:01:42,240 --> 01:01:43,360
Speaker 1: before we even kick them off?

1147
01:01:43,720 --> 01:01:46,280
Speaker 3: Oh yeah, no doubt. We'll love to We'll love to well.

1148
01:01:46,360 --> 01:01:50,280
Speaker 3: Earners Academy of Courses. From the minds of the two

1149
01:01:50,360 --> 01:01:53,640
Speaker 3: gentlemen right here, Troy and Rashard, the goal of Earners

1150
01:01:53,720 --> 01:02:00,000
Speaker 3: Academy is to bring the financial information revolutionized financial financial information,

1151
01:02:00,320 --> 01:02:03,680
Speaker 3: bring it right into schools. So what we've done is

1152
01:02:03,720 --> 01:02:06,840
Speaker 3: we've just got hours of footage and tape on these

1153
01:02:06,840 --> 01:02:11,160
Speaker 3: two gentlemen, two bright minds in the financial space, and

1154
01:02:11,240 --> 01:02:16,120
Speaker 3: we made it digestible and fun and engaging for young

1155
01:02:16,200 --> 01:02:21,360
Speaker 3: people to really tackle important issues in finance. What separates

1156
01:02:21,440 --> 01:02:27,320
Speaker 3: us from out there tackling just just really tackling really

1157
01:02:27,360 --> 01:02:31,120
Speaker 3: core issues and financial literacy. So we're just not teaching

1158
01:02:31,160 --> 01:02:34,560
Speaker 3: about teaching the skills. We're building a strong knowledge base

1159
01:02:34,600 --> 01:02:37,320
Speaker 3: as well, and I think that's really important. It's not

1160
01:02:37,560 --> 01:02:41,240
Speaker 3: you can't you can't do skills without knowledge. So we're

1161
01:02:41,240 --> 01:02:44,720
Speaker 3: building knowledge, We're building skills, and we're building a history

1162
01:02:44,760 --> 01:02:49,240
Speaker 3: around financial education so young people can actually be smart

1163
01:02:49,680 --> 01:02:53,360
Speaker 3: about decision making, understanding the past so that they can

1164
01:02:53,400 --> 01:02:56,640
Speaker 3: actually create a bright future. And that's what Earn's Academy is.

1165
01:02:56,800 --> 01:03:01,160
Speaker 3: So it's really it's a really raw curriculum deeply connected

1166
01:03:01,200 --> 01:03:04,520
Speaker 3: to hip hop. And I think that's important too for

1167
01:03:04,560 --> 01:03:07,520
Speaker 3: the relatability. And these two gentlemen, Troy and Mishad, y'all

1168
01:03:07,560 --> 01:03:10,240
Speaker 3: are really spoken a lot about how y'all are connected

1169
01:03:10,240 --> 01:03:12,640
Speaker 3: to hip hop, what hip hop means to both of you.

1170
01:03:13,040 --> 01:03:15,480
Speaker 3: So we had to add that element in there as well,

1171
01:03:15,680 --> 01:03:18,520
Speaker 3: because again that's where we come from, and we've learned

1172
01:03:18,560 --> 01:03:22,320
Speaker 3: so much from hip hop. There have been so many

1173
01:03:22,400 --> 01:03:25,920
Speaker 3: financial gems connected to hip hop that we wanted to

1174
01:03:25,920 --> 01:03:28,120
Speaker 3: add this curriculum so it could be representative of the

1175
01:03:28,160 --> 01:03:30,720
Speaker 3: two of you and how you grew up. So with that,

1176
01:03:31,080 --> 01:03:34,840
Speaker 3: we have earned his academy. We hold young people across

1177
01:03:34,840 --> 01:03:37,400
Speaker 3: the nation love it and teachers also, So this is

1178
01:03:37,400 --> 01:03:40,480
Speaker 3: a tool that we want each one teach one. We

1179
01:03:40,520 --> 01:03:44,160
Speaker 3: want teachers and students to learn financial literacy together as

1180
01:03:44,200 --> 01:03:45,560
Speaker 3: a community. I just should be.

1181
01:03:46,280 --> 01:03:48,320
Speaker 2: Yeah, for sure, this is something that you know, a

1182
01:03:48,480 --> 01:03:52,720
Speaker 2: laborer love really to really kind of change the game

1183
01:03:52,960 --> 01:03:55,640
Speaker 2: for education. It took us two years to actually complete this,

1184
01:03:55,920 --> 01:04:01,920
Speaker 2: and hours and hours of video in curriculum when it

1185
01:04:02,000 --> 01:04:06,560
Speaker 2: comes to you know, school teaching, and even if you

1186
01:04:06,760 --> 01:04:09,520
Speaker 2: if you're educator and you're not even educating on finances yourself,

1187
01:04:09,520 --> 01:04:13,000
Speaker 2: we try to make it an easy, easy teach. So yeah,

1188
01:04:13,080 --> 01:04:15,880
Speaker 2: let's go through something, yeah that we can talk about.

1189
01:04:16,720 --> 01:04:18,400
Speaker 1: Yeah yeah, yeah, let's let's give them a previous This

1190
01:04:18,400 --> 01:04:20,760
Speaker 1: is the first time anybody's ever seen it, Uh, so

1191
01:04:20,800 --> 01:04:22,600
Speaker 1: we're excited about it. You want to start with the

1192
01:04:22,600 --> 01:04:25,240
Speaker 1: supply chain. You want to do that, Let's do it.

1193
01:04:25,480 --> 01:04:26,640
Speaker 1: Let's do it. There you go.

1194
01:04:35,000 --> 01:04:37,040
Speaker 2: So when you look at investing, you want to look

1195
01:04:37,080 --> 01:04:39,240
Speaker 2: at a variety of different factors to see if an

1196
01:04:39,240 --> 01:04:42,720
Speaker 2: investment makes sense, and that one of the things that

1197
01:04:42,840 --> 01:04:46,600
Speaker 2: makes a company a strong company is if it can

1198
01:04:46,640 --> 01:04:51,600
Speaker 2: create an ecosystem, as Nipsey Hustle once said, vertical integration.

1199
01:04:51,840 --> 01:04:55,200
Speaker 2: We're trying to get as vertically integrated as possible possible.

1200
01:04:55,360 --> 01:04:57,840
Speaker 2: So one of the companies that have done the best

1201
01:04:57,920 --> 01:05:00,240
Speaker 2: job of this is Apple. When we look at Apple,

1202
01:05:00,520 --> 01:05:04,120
Speaker 2: it's not just a phone provider, it's an actual ecosystem.

1203
01:05:04,200 --> 01:05:07,120
Speaker 2: From the music that it has, from the app store,

1204
01:05:07,280 --> 01:05:11,080
Speaker 2: from the communication on FaceTime, Hey Troy. We have to

1205
01:05:11,120 --> 01:05:14,720
Speaker 2: teach them about the importance of assets over liability, from

1206
01:05:14,760 --> 01:05:17,480
Speaker 2: the ability to watch social media on your phone, which

1207
01:05:17,520 --> 01:05:21,680
Speaker 2: is an iPhone. All of these things are encompassed inside

1208
01:05:22,200 --> 01:05:27,880
Speaker 2: the technology and the device that Apple has created, which

1209
01:05:27,960 --> 01:05:32,360
Speaker 2: makes it an extremely valuable product and something that is

1210
01:05:32,400 --> 01:05:36,880
Speaker 2: extremely hard to leave. Most people cannot leave their iPhone

1211
01:05:36,920 --> 01:05:39,800
Speaker 2: because there's so much data, so much information, so much

1212
01:05:39,880 --> 01:05:42,600
Speaker 2: uses that you actually do on your iPhone without actually

1213
01:05:42,680 --> 01:05:46,320
Speaker 2: realizing it. So a phone turns into a camera, turns

1214
01:05:46,320 --> 01:05:51,160
Speaker 2: into a studio, turns into a listening for music, so

1215
01:05:51,240 --> 01:05:53,960
Speaker 2: many different varieties. So when you're looking at an investment,

1216
01:05:54,000 --> 01:05:56,160
Speaker 2: you want to see if it's just a one off

1217
01:05:56,240 --> 01:05:59,880
Speaker 2: product or if it's an actual ecosystem that is in place.

1218
01:06:00,720 --> 01:06:04,120
Speaker 2: And also we want to look at supply chain. So

1219
01:06:04,160 --> 01:06:07,840
Speaker 2: the supply chain are the companies that work with a

1220
01:06:07,920 --> 01:06:12,320
Speaker 2: company to make sure that these technologies are sufficient and running.

1221
01:06:12,520 --> 01:06:14,560
Speaker 2: So when you look at a car like Tesla, you

1222
01:06:14,600 --> 01:06:17,640
Speaker 2: can invest in Tesla. Stop because we see Teslas on

1223
01:06:17,680 --> 01:06:20,080
Speaker 2: the road, But we all know that Tesla is a

1224
01:06:20,120 --> 01:06:24,520
Speaker 2: smart car, right, It doesn't use gas, it's very efficient,

1225
01:06:24,960 --> 01:06:28,680
Speaker 2: it has extremely high technology. So one of the things

1226
01:06:28,720 --> 01:06:30,640
Speaker 2: that you want to look at as an investor is

1227
01:06:30,680 --> 01:06:33,720
Speaker 2: how can I invest not only in Tesla, but the

1228
01:06:33,800 --> 01:06:38,880
Speaker 2: companies that's powering Tesla. This goes back to the chip conversation, right,

1229
01:06:38,960 --> 01:06:42,240
Speaker 2: So who are making the chips that are going inside

1230
01:06:42,280 --> 01:06:45,960
Speaker 2: of Tesla, Who's making the battery that goes inside of Tesla,

1231
01:06:46,000 --> 01:06:50,440
Speaker 2: Who's making the charging stations that will power all electric

1232
01:06:50,560 --> 01:06:56,920
Speaker 2: vehicles moving forward? These are critical thinking items that you

1233
01:06:57,080 --> 01:07:00,520
Speaker 2: have to implement to think outside the box to become

1234
01:07:00,600 --> 01:07:02,440
Speaker 2: a very successful investor.

1235
01:07:05,280 --> 01:07:07,640
Speaker 1: Yeah man, that was that was that was a nice

1236
01:07:07,640 --> 01:07:09,680
Speaker 1: preview that that was a debut for the world. Shot

1237
01:07:09,720 --> 01:07:13,480
Speaker 1: everybody that's locked in and we appreciate all the positive feedback.

1238
01:07:13,560 --> 01:07:16,240
Speaker 1: Yeah man, how do you feel watching It's dope?

1239
01:07:16,720 --> 01:07:18,840
Speaker 2: Man? For sure. A shout out to you know, Traves

1240
01:07:18,840 --> 01:07:21,360
Speaker 2: and the whole team to actually, you know, putting that

1241
01:07:21,440 --> 01:07:24,280
Speaker 2: together and editing it and it's dope. But I think that,

1242
01:07:24,360 --> 01:07:26,000
Speaker 2: you know, so just to kind of give you guys

1243
01:07:26,000 --> 01:07:28,720
Speaker 2: some perspective how the curriculum works. It's like, we'll show that,

1244
01:07:28,760 --> 01:07:32,000
Speaker 2: but then there's there's curriculum, so to kind of we'll

1245
01:07:32,000 --> 01:07:34,600
Speaker 2: talk about it in real time. It's important. This goes

1246
01:07:34,640 --> 01:07:37,040
Speaker 2: back to just education, right. It's important I think to

1247
01:07:37,240 --> 01:07:42,400
Speaker 2: use things that people identify with when explaining things. That's

1248
01:07:42,440 --> 01:07:45,200
Speaker 2: another teaching method. Right. So it's like, okay, so we

1249
01:07:45,200 --> 01:07:47,280
Speaker 2: could talk about supply chain, but what does that mean?

1250
01:07:47,840 --> 01:07:48,000
Speaker 1: Right?

1251
01:07:48,080 --> 01:07:50,400
Speaker 2: But now when you when you say okay, when you

1252
01:07:50,440 --> 01:07:53,680
Speaker 2: can actually look at the iPhone, which everybody has an iPhone, right,

1253
01:07:54,000 --> 01:07:56,760
Speaker 2: and now you can actually break it down in that manner,

1254
01:07:57,280 --> 01:08:00,840
Speaker 2: it's a lot easier. Right. Even the content the context

1255
01:08:00,840 --> 01:08:05,080
Speaker 2: of vertical integration rest in peace to Nip right, And

1256
01:08:05,120 --> 01:08:07,160
Speaker 2: we talked about, like you know, now when you could

1257
01:08:07,200 --> 01:08:11,520
Speaker 2: actually say, okay, if you have a device, and on

1258
01:08:11,600 --> 01:08:15,080
Speaker 2: that device is a camera and a video that you're

1259
01:08:15,080 --> 01:08:17,080
Speaker 2: going to capture all your moments and you're going to

1260
01:08:17,160 --> 01:08:20,960
Speaker 2: look at archived. Right, It's like a vault almost. And

1261
01:08:21,080 --> 01:08:25,519
Speaker 2: also on that same device is a banking where you

1262
01:08:25,560 --> 01:08:29,240
Speaker 2: actually can use to send money and collect money, right.

1263
01:08:29,680 --> 01:08:33,720
Speaker 2: And also on that same device is where you're going

1264
01:08:33,760 --> 01:08:37,360
Speaker 2: to actually be notified about everything that happens in your

1265
01:08:37,360 --> 01:08:43,240
Speaker 2: life via Instagram and on Google. And also on that

1266
01:08:43,280 --> 01:08:47,520
Speaker 2: same device is you're going to be able to communicate

1267
01:08:47,560 --> 01:08:52,800
Speaker 2: to people all over the world, either text, call, or FaceTime.

1268
01:08:53,400 --> 01:08:56,519
Speaker 2: And also on that same device is going to be

1269
01:08:56,520 --> 01:08:59,160
Speaker 2: your entertainment because you're going to listen to music on

1270
01:08:59,240 --> 01:09:02,120
Speaker 2: this device, You're gonna watch movies on this device, You're

1271
01:09:02,120 --> 01:09:03,599
Speaker 2: gonna watch YouTube on this device.

1272
01:09:03,880 --> 01:09:04,080
Speaker 1: Right.

1273
01:09:04,920 --> 01:09:08,400
Speaker 2: I can go on and on. There's no need to

1274
01:09:08,439 --> 01:09:12,280
Speaker 2: ever leave this device, right, Whereas now I can explain

1275
01:09:12,320 --> 01:09:14,240
Speaker 2: that in a different way where it's like, okay, now,

1276
01:09:14,240 --> 01:09:17,040
Speaker 2: if you had one phone. Previously, a phone was just

1277
01:09:17,080 --> 01:09:21,080
Speaker 2: a phone, right, Like there was a time when a

1278
01:09:21,200 --> 01:09:23,760
Speaker 2: phone was an actual phone, and that's the only thing

1279
01:09:23,800 --> 01:09:27,000
Speaker 2: you did was to actually make phone calls on that phone.

1280
01:09:27,120 --> 01:09:29,719
Speaker 2: If you wanted to take a picture, you had a camera,

1281
01:09:30,640 --> 01:09:33,439
Speaker 2: and that camera the only thing that it did was

1282
01:09:33,560 --> 01:09:37,599
Speaker 2: actually take a picture. And then if you wanted to

1283
01:09:37,680 --> 01:09:40,599
Speaker 2: listen to music, you had a walk Man or a

1284
01:09:40,600 --> 01:09:43,920
Speaker 2: CD player, right, and the only thing that that did

1285
01:09:44,160 --> 01:09:48,639
Speaker 2: was play music. And if you wanted to watch something visually,

1286
01:09:49,280 --> 01:09:52,040
Speaker 2: you had a television and the only thing that that

1287
01:09:52,200 --> 01:09:57,080
Speaker 2: television did was play movies. Or now you have five

1288
01:09:57,160 --> 01:10:02,640
Speaker 2: different separate devices. Right now, you have to go to

1289
01:10:02,760 --> 01:10:06,360
Speaker 2: five different things to actually utilize all those different things.

1290
01:10:07,040 --> 01:10:11,599
Speaker 2: So with the genius of this, they combined everything in one, right,

1291
01:10:12,080 --> 01:10:14,640
Speaker 2: so now you never have to leave your phone. But

1292
01:10:14,720 --> 01:10:17,799
Speaker 2: from a business standpoint, they actually merged five different businesses

1293
01:10:17,840 --> 01:10:20,519
Speaker 2: in one. They actually merged thousands of different businesses in

1294
01:10:20,520 --> 01:10:22,160
Speaker 2: the one. Because all of those things that I just

1295
01:10:22,240 --> 01:10:28,200
Speaker 2: named are either obsolete or almost obsolete. Right, unless you're

1296
01:10:28,200 --> 01:10:32,120
Speaker 2: a professional photographer, nobody has cameras. Nobody has like real

1297
01:10:32,280 --> 01:10:36,240
Speaker 2: like those little polaroid can't Nobody has cameras, right unless

1298
01:10:36,280 --> 01:10:39,960
Speaker 2: you're like really taking real pictures. Nobody has walkman, nobody

1299
01:10:40,000 --> 01:10:43,240
Speaker 2: has an iPod anymore. Right, they're listening to their music

1300
01:10:43,360 --> 01:10:46,120
Speaker 2: on the phone. People still have TVs, but even that's

1301
01:10:46,200 --> 01:10:49,599
Speaker 2: kind of a dying model at a certain level because

1302
01:10:49,680 --> 01:10:52,160
Speaker 2: unless you're a home and most people are watching when

1303
01:10:52,200 --> 01:10:55,160
Speaker 2: they're not home, right, So it's like a lot of

1304
01:10:55,280 --> 01:10:58,720
Speaker 2: things have just completely gone away because of one thing.

1305
01:10:58,760 --> 01:11:02,760
Speaker 2: They will actually able to streamline the process and make

1306
01:11:02,800 --> 01:11:05,479
Speaker 2: it much more efficient. So that's a business lesson. But

1307
01:11:05,520 --> 01:11:11,559
Speaker 2: it's easier to understand when I'm giving tangible examples from

1308
01:11:11,760 --> 01:11:15,639
Speaker 2: a product that we all know very well, as opposed

1309
01:11:15,680 --> 01:11:20,800
Speaker 2: to me trying to just give you know, hypothetical you know,

1310
01:11:21,520 --> 01:11:25,240
Speaker 2: very far out there things that is going to be

1311
01:11:25,320 --> 01:11:27,920
Speaker 2: difficult to digest and you're not going to be able

1312
01:11:27,920 --> 01:11:28,559
Speaker 2: to relate to it.

1313
01:11:29,280 --> 01:11:31,880
Speaker 1: And it speaks to a couple of things. And that

1314
01:11:32,240 --> 01:11:33,760
Speaker 1: was one of the goals is when we were creating it.

1315
01:11:33,760 --> 01:11:36,800
Speaker 1: It's like, we want education to be responsive, right, Like

1316
01:11:36,840 --> 01:11:39,280
Speaker 1: we don't want it to be relevant because relevancy changes,

1317
01:11:39,360 --> 01:11:42,599
Speaker 1: and so like a product like what Apple has created

1318
01:11:43,280 --> 01:11:46,439
Speaker 1: that keeps evolving, right like the vision pro could be

1319
01:11:46,479 --> 01:11:48,559
Speaker 1: the next thing we're talking about, The next thing that

1320
01:11:48,640 --> 01:11:51,000
Speaker 1: they innovate could be part of that curriculum, which makes

1321
01:11:51,040 --> 01:11:54,479
Speaker 1: it very unique and fore like people who are in education. Yes,

1322
01:11:54,760 --> 01:11:57,479
Speaker 1: it does have they do now with the lesson. It

1323
01:11:57,520 --> 01:12:00,920
Speaker 1: does have the learning objectives, it does have the group activities,

1324
01:12:01,080 --> 01:12:03,720
Speaker 1: it does has the teachers model, it does have a conclusion,

1325
01:12:04,080 --> 01:12:07,120
Speaker 1: it does have questions inside. And so what was beautiful

1326
01:12:07,120 --> 01:12:09,080
Speaker 1: when we were able to watch it is that we're

1327
01:12:09,120 --> 01:12:12,840
Speaker 1: watching the educators learn as they're teaching, so both people

1328
01:12:12,880 --> 01:12:14,880
Speaker 1: are learning at the same time, which makes it very

1329
01:12:14,960 --> 01:12:18,080
Speaker 1: unique in a classroom setting. But what it does is

1330
01:12:18,120 --> 01:12:20,800
Speaker 1: that it empowers kids to go home and now tell

1331
01:12:20,840 --> 01:12:24,280
Speaker 1: their parents, their grandmothers, and their cousins what they've learned about.

1332
01:12:24,479 --> 01:12:28,600
Speaker 1: And now that changes conversation as well. So it tackles

1333
01:12:29,040 --> 01:12:31,160
Speaker 1: a number of things not only inside the building, but

1334
01:12:31,200 --> 01:12:33,360
Speaker 1: in our community. And that's what education is, right when

1335
01:12:33,360 --> 01:12:36,639
Speaker 1: we talk about schools, that's usually the center of your community, right,

1336
01:12:36,680 --> 01:12:39,200
Speaker 1: and what happens inside there, the learning that's happening can

1337
01:12:39,240 --> 01:12:41,800
Speaker 1: be infectious. I feel like we've kind of nailed it

1338
01:12:41,800 --> 01:12:44,120
Speaker 1: with that if I do say so myself. And the

1339
01:12:44,160 --> 01:12:46,599
Speaker 1: next thing you talked about and will probably maybe show

1340
01:12:46,600 --> 01:12:50,040
Speaker 1: this video, is they've created a mote, right, Like that's

1341
01:12:50,080 --> 01:12:53,760
Speaker 1: a competitive advantage, right, the brand loyalty When you say

1342
01:12:53,800 --> 01:12:56,680
Speaker 1: everybody I know you like you're just saying it. I

1343
01:12:56,680 --> 01:12:59,360
Speaker 1: mean that no other phone exists in the world, but

1344
01:12:59,520 --> 01:13:02,720
Speaker 1: majority the people, when you think I phone, you think

1345
01:13:02,760 --> 01:13:06,360
Speaker 1: an iPhone. So they've created a brand loyalty around that company,

1346
01:13:06,400 --> 01:13:09,000
Speaker 1: and it's the reason why there are a three trillion

1347
01:13:09,000 --> 01:13:11,040
Speaker 1: dollar company. It's the reason why people will go out

1348
01:13:11,040 --> 01:13:15,000
Speaker 1: and buy the iPhone sixteen. And like you said, at

1349
01:13:15,000 --> 01:13:17,679
Speaker 1: this point, people are making music videos with their phones,

1350
01:13:17,960 --> 01:13:20,200
Speaker 1: so even having the high tech phone, it might not

1351
01:13:20,200 --> 01:13:22,680
Speaker 1: even necessary in the next five to ten years. So

1352
01:13:22,680 --> 01:13:25,519
Speaker 1: they've created the brand loyalty for people to come back

1353
01:13:25,520 --> 01:13:27,280
Speaker 1: and the product is really good, which has actually hurt

1354
01:13:27,360 --> 01:13:29,720
Speaker 1: them a little bit when we're talking about, hey, if

1355
01:13:29,760 --> 01:13:31,639
Speaker 1: I have the fourteen, do I need to get to sixteen?

1356
01:13:31,800 --> 01:13:33,800
Speaker 1: But those are good problems. What it does for what

1357
01:13:33,840 --> 01:13:36,479
Speaker 1: you do now is to innovate. But these are all

1358
01:13:36,680 --> 01:13:38,760
Speaker 1: lessons that you can learn just from something simple as

1359
01:13:38,880 --> 01:13:41,759
Speaker 1: talking about a device that you have in your pocket.

1360
01:13:42,120 --> 01:13:46,320
Speaker 3: And if I can first shout out to both for

1361
01:13:46,360 --> 01:13:49,240
Speaker 3: you in terms of really putting your knowledge on a curriculum,

1362
01:13:49,240 --> 01:13:53,880
Speaker 3: but educators, parents, you got to advocate for this because

1363
01:13:54,439 --> 01:13:57,480
Speaker 3: as you see, we just talked about ecosystems and supply chains.

1364
01:13:57,920 --> 01:14:01,479
Speaker 3: That's not happening in school. It's not happening into many

1365
01:14:01,520 --> 01:14:06,800
Speaker 3: financial literacy curriculums. So we're going we're going deep into

1366
01:14:06,920 --> 01:14:10,439
Speaker 3: financial topics that a lot of people don't think our

1367
01:14:10,520 --> 01:14:14,760
Speaker 3: kids are ready for. Our kids can learn calculus, they

1368
01:14:14,760 --> 01:14:18,479
Speaker 3: can learn this. So I just want to just push

1369
01:14:18,600 --> 01:14:20,880
Speaker 3: everybody to say go for it, because we're going to

1370
01:14:20,920 --> 01:14:23,360
Speaker 3: get into the power of remote video. But we don't

1371
01:14:23,400 --> 01:14:26,519
Speaker 3: really teach that. We teach the stock market game. We're

1372
01:14:26,520 --> 01:14:30,040
Speaker 3: going pest that. We're saying that our young people can

1373
01:14:30,160 --> 01:14:33,920
Speaker 3: handle the tough the business and economics behind why stock

1374
01:14:33,960 --> 01:14:36,600
Speaker 3: prices going up and down. And I think that's a

1375
01:14:36,600 --> 01:14:38,960
Speaker 3: real clear distinction about what we're doing over here, Like

1376
01:14:39,000 --> 01:14:43,120
Speaker 3: we really believe that young people can handle and grapple

1377
01:14:43,200 --> 01:14:48,960
Speaker 3: with really complex, complex business and economic discussions where we

1378
01:14:48,960 --> 01:14:51,040
Speaker 3: talk about the stock market. So we're not playing the

1379
01:14:51,040 --> 01:14:55,600
Speaker 3: stock market game over here. We're really having business conversations,

1380
01:14:55,600 --> 01:14:58,519
Speaker 3: bringing those to the forefront of our classroom and make

1381
01:14:58,560 --> 01:15:01,840
Speaker 3: it digestible and chunkle so that teachers and students can

1382
01:15:01,880 --> 01:15:04,640
Speaker 3: have real conversations. So I want to jump in that

1383
01:15:04,760 --> 01:15:06,200
Speaker 3: before we went to the power of the moat.

1384
01:15:07,120 --> 01:15:09,040
Speaker 1: Yeah, yeah, And that's one of the things I've learned

1385
01:15:09,080 --> 01:15:11,280
Speaker 1: that right in the summer when we were teaching about stocks.

1386
01:15:11,479 --> 01:15:14,160
Speaker 1: It's cool to do the paper trading, but they need more.

1387
01:15:14,400 --> 01:15:16,760
Speaker 1: If they don't understand why they're doing it, if they

1388
01:15:16,760 --> 01:15:19,559
Speaker 1: don't see the incentives of why they're doing it, it

1389
01:15:19,600 --> 01:15:23,320
Speaker 1: doesn't become something that becomes naturally part of their everyday life.

1390
01:15:23,720 --> 01:15:26,120
Speaker 1: If you do something for ninety days, right, it's like

1391
01:15:26,160 --> 01:15:28,799
Speaker 1: going to practice, if you're playing a sport. It becomes

1392
01:15:28,800 --> 01:15:31,840
Speaker 1: part of your daily routine. Right, you're those things become

1393
01:15:31,920 --> 01:15:34,200
Speaker 1: part of your daily routine. What you're reading, it becomes

1394
01:15:34,200 --> 01:15:35,960
Speaker 1: part of your daily routine. If it's not part of

1395
01:15:36,000 --> 01:15:38,320
Speaker 1: their daily routine, and it's something that we're doing for

1396
01:15:38,439 --> 01:15:40,800
Speaker 1: one week out the year, it doesn't come something that

1397
01:15:41,160 --> 01:15:43,599
Speaker 1: becomes digestile, doesn't stick to them. So that's why this

1398
01:15:43,680 --> 01:15:46,479
Speaker 1: is important because not only is it just for for

1399
01:15:46,840 --> 01:15:50,280
Speaker 1: the secondary education, but it can last from half a

1400
01:15:50,360 --> 01:15:52,679
Speaker 1: year or it can be spread out through the entire year,

1401
01:15:52,920 --> 01:15:55,080
Speaker 1: and so it's something that's really substantial that can really

1402
01:15:55,120 --> 01:15:57,040
Speaker 1: just change how they think. But let's jump to one

1403
01:15:57,080 --> 01:15:57,639
Speaker 1: more if we can.

1404
01:15:57,720 --> 01:16:00,599
Speaker 2: Let's if we're going to do one more. I think

1405
01:16:00,640 --> 01:16:02,519
Speaker 2: the abilities is very important.

1406
01:16:02,600 --> 01:16:04,840
Speaker 1: You don't do that, all right, let's do that. What

1407
01:16:04,880 --> 01:16:08,639
Speaker 1: are assets and liabilities? Well, this is something that's very

1408
01:16:08,680 --> 01:16:11,160
Speaker 1: near and dear to us. Not only is it our

1409
01:16:11,200 --> 01:16:15,800
Speaker 1: company slogan, but it's our lifestyle mantra. An asset is

1410
01:16:16,040 --> 01:16:19,840
Speaker 1: anything that adds value to a person, a business, or

1411
01:16:19,880 --> 01:16:23,160
Speaker 1: a company. The more assets you have, the more your

1412
01:16:23,160 --> 01:16:26,479
Speaker 1: company's worth. And yes, people can be assets because they

1413
01:16:26,560 --> 01:16:29,880
Speaker 1: can add value to all of the above. Some examples

1414
01:16:29,880 --> 01:16:36,400
Speaker 1: of assets are real estate, stocks, commodities such as silver, gold, platinum, collectibles,

1415
01:16:36,600 --> 01:16:41,160
Speaker 1: trading cards, sneakers, jewelry, some cars. All these things can

1416
01:16:41,200 --> 01:16:45,679
Speaker 1: appreciate over time and add value to somebody's overall net worth.

1417
01:16:46,439 --> 01:16:51,040
Speaker 1: A liability, well that's the complete opposite. That's anything that

1418
01:16:51,080 --> 01:16:54,559
Speaker 1: removes value from a person, business, or company. So the

1419
01:16:54,560 --> 01:16:58,200
Speaker 1: more liabilities you have, the less your companies work and

1420
01:16:58,240 --> 01:17:01,679
Speaker 1: the less productive you will be if you're the person

1421
01:17:01,760 --> 01:17:04,400
Speaker 1: that's a liability or that has to deal with someone

1422
01:17:04,680 --> 01:17:12,479
Speaker 1: that is a liability. And some examples of liabilities are taxes, loans, mortgages. Cars. Right,

1423
01:17:12,520 --> 01:17:14,599
Speaker 1: sometimes we have a high car note that will cost

1424
01:17:14,680 --> 01:17:17,400
Speaker 1: us more than we can afford. Or people who aren't

1425
01:17:17,400 --> 01:17:19,920
Speaker 1: as productives that they need to be inside of our business,

1426
01:17:20,000 --> 01:17:22,360
Speaker 1: which will eventually cost us money.

1427
01:17:22,439 --> 01:17:24,920
Speaker 2: So that's that's important because that shows that's our slogan,

1428
01:17:24,960 --> 01:17:30,160
Speaker 2: that's civil liabilities and explaining that in detail is vitally

1429
01:17:30,160 --> 01:17:33,240
Speaker 2: important to children. I have my shirt on yesterday and

1430
01:17:33,320 --> 01:17:36,840
Speaker 2: I was my son was getting some training and the guy,

1431
01:17:36,920 --> 01:17:38,800
Speaker 2: one of the guys coach, he was like his dad.

1432
01:17:38,880 --> 01:17:41,400
Speaker 2: You could tell him every single day either going to

1433
01:17:41,439 --> 01:17:44,680
Speaker 2: be asset or a liability, and it's become part of

1434
01:17:44,720 --> 01:17:48,280
Speaker 2: the vernacular for the culture. But just explaining that even

1435
01:17:48,320 --> 01:17:51,360
Speaker 2: outside of business, as far as asset over liabil you

1436
01:17:51,400 --> 01:17:53,720
Speaker 2: got to kind of drill things in people's minds. That's

1437
01:17:53,800 --> 01:17:56,479
Speaker 2: vitally important. This is why mantras are important. Right, you

1438
01:17:56,479 --> 01:17:58,200
Speaker 2: say the same thing over and over and over again,

1439
01:17:58,840 --> 01:18:04,240
Speaker 2: you get to learn it right, and it stays with you. Right.

1440
01:18:06,080 --> 01:18:11,280
Speaker 2: So when you start to, you know, drill these things

1441
01:18:11,280 --> 01:18:16,880
Speaker 2: in young people's minds, they learn assets and they learn linabilities.

1442
01:18:16,920 --> 01:18:20,280
Speaker 2: That's that's two or the most important words that they're

1443
01:18:20,280 --> 01:18:22,120
Speaker 2: gonna learn because it's going to carry with them in

1444
01:18:22,160 --> 01:18:25,200
Speaker 2: so many different variables in life outside of finances. They're

1445
01:18:25,200 --> 01:18:27,040
Speaker 2: gonna make decisions and they're going to say okay, is

1446
01:18:27,080 --> 01:18:29,480
Speaker 2: this personal asset to me? Or is this personal liability?

1447
01:18:29,880 --> 01:18:31,720
Speaker 2: Is this gonna is this going to be negative to

1448
01:18:31,800 --> 01:18:33,800
Speaker 2: my life? Or it's gonna be positive to my life? Right?

1449
01:18:34,200 --> 01:18:37,160
Speaker 2: And just learning those two words can actually change your

1450
01:18:37,160 --> 01:18:40,400
Speaker 2: life because you start to look at things, you start

1451
01:18:40,439 --> 01:18:42,719
Speaker 2: to actually evaluate. That's the whole point. It's an accounting

1452
01:18:42,880 --> 01:18:45,479
Speaker 2: term as far as on on a balance sheet, you

1453
01:18:45,479 --> 01:18:49,040
Speaker 2: have liabilities and assets. Actually on the account sheet, the

1454
01:18:49,160 --> 01:18:53,479
Speaker 2: assets is below liabilities, but for purposes of playing with

1455
01:18:53,520 --> 01:18:56,280
Speaker 2: the words, it's assets over liabilities in our world. But

1456
01:18:58,360 --> 01:19:01,280
Speaker 2: when you start to look at life and that lens,

1457
01:19:02,520 --> 01:19:05,240
Speaker 2: you look your life completely different because you realize that

1458
01:19:05,680 --> 01:19:07,880
Speaker 2: it's a it's a wind lose game. Life is a

1459
01:19:07,880 --> 01:19:10,360
Speaker 2: win lose game, right, And you can only lose so

1460
01:19:10,439 --> 01:19:13,840
Speaker 2: much before you lost, right. So when you look at

1461
01:19:13,880 --> 01:19:16,080
Speaker 2: it from that standpoint, everything that you do you're tallying

1462
01:19:16,240 --> 01:19:18,840
Speaker 2: up in the back of your mind like damn, okay,

1463
01:19:18,880 --> 01:19:22,519
Speaker 2: I'm buying this, but I'm this is taking money out

1464
01:19:22,560 --> 01:19:24,240
Speaker 2: of it and I'm not getting anything from this. You

1465
01:19:24,400 --> 01:19:26,640
Speaker 2: only do that so much before you have a negative bankccount.

1466
01:19:27,479 --> 01:19:30,160
Speaker 2: I got three friends and that none of them are

1467
01:19:30,200 --> 01:19:32,200
Speaker 2: doing anything with their life. They're smoking weed all day.

1468
01:19:32,240 --> 01:19:36,320
Speaker 2: They just you know, fucking around all right, Well, eventually

1469
01:19:36,479 --> 01:19:39,120
Speaker 2: you're going to be the fourth one. Right, you have

1470
01:19:39,160 --> 01:19:41,479
Speaker 2: three liabilities in your life. It's only it's only amount

1471
01:19:41,520 --> 01:19:44,280
Speaker 2: of time before you become a liability yourself. You can't

1472
01:19:44,320 --> 01:19:47,439
Speaker 2: have every single person around you that's doing nothing and

1473
01:19:47,479 --> 01:19:49,320
Speaker 2: think that you're going to be the one person that's

1474
01:19:49,320 --> 01:19:51,559
Speaker 2: gonna outshine the whole situation now that you're just gonna

1475
01:19:51,600 --> 01:19:56,320
Speaker 2: be so Having explaining that to them on a financial level,

1476
01:19:56,720 --> 01:19:58,240
Speaker 2: but like I said, it was crazy because like he said,

1477
01:19:58,280 --> 01:20:00,240
Speaker 2: he said his dad told them that every morning, you

1478
01:20:00,320 --> 01:20:02,360
Speaker 2: either gonna be a liability or asset in this world.

1479
01:20:02,560 --> 01:20:05,679
Speaker 2: That was the mantra before you walked out of the house.

1480
01:20:06,520 --> 01:20:08,200
Speaker 2: You want to be a liability, you're gonna be asset.

1481
01:20:08,520 --> 01:20:11,360
Speaker 2: Don't be a liability, be an asset today, Just be asset.

1482
01:20:12,000 --> 01:20:16,599
Speaker 2: Anything you do, just be an asset. Don't take ad right,

1483
01:20:17,120 --> 01:20:23,519
Speaker 2: it's a simple, it's a simple philosophy. But really getting

1484
01:20:23,600 --> 01:20:27,479
Speaker 2: kids to understand that, I think is vitally important. Don't

1485
01:20:27,920 --> 01:20:30,439
Speaker 2: don't be a liability in life. Ladies and gentlemen, please

1486
01:20:30,640 --> 01:20:36,439
Speaker 2: being asked if you don't do anything else all and

1487
01:20:37,040 --> 01:20:39,080
Speaker 2: we're gonna do some more. We'll do the more. I

1488
01:20:39,160 --> 01:20:40,160
Speaker 2: let's do the more for the people.

1489
01:20:40,479 --> 01:20:42,880
Speaker 3: Yeah, let's show off so that they know they got

1490
01:20:42,920 --> 01:20:43,920
Speaker 3: to get this in there school.

1491
01:20:44,400 --> 01:20:45,000
Speaker 2: Let's do it all.

1492
01:20:47,280 --> 01:20:49,559
Speaker 1: So what is a mote? Well, a mote is an

1493
01:20:49,680 --> 01:20:53,200
Speaker 1: economic advantage that companies put in place to make sure

1494
01:20:53,240 --> 01:20:57,040
Speaker 1: that they separate themselves from their competition. It's a strategy

1495
01:20:57,080 --> 01:21:01,200
Speaker 1: that they use to distance themselves inside their industry, their field,

1496
01:21:01,640 --> 01:21:04,240
Speaker 1: and companies do this all the time. It's a long

1497
01:21:04,320 --> 01:21:06,720
Speaker 1: term play that they use to make sure that they

1498
01:21:06,840 --> 01:21:10,280
Speaker 1: always stay ahead. And there's different ways that they implement

1499
01:21:10,400 --> 01:21:15,120
Speaker 1: this economic mode. The first one is brand loyalty. And

1500
01:21:15,160 --> 01:21:18,479
Speaker 1: when we say brand loyalty, that means that a company

1501
01:21:18,520 --> 01:21:21,160
Speaker 1: has put in the minds of its customers or its

1502
01:21:21,240 --> 01:21:24,400
Speaker 1: users that they have the best product, the best service,

1503
01:21:25,080 --> 01:21:29,160
Speaker 1: and the best quality, don't matter the price. And when

1504
01:21:29,160 --> 01:21:32,719
Speaker 1: I think of companies like that, Apple is the first

1505
01:21:32,800 --> 01:21:37,240
Speaker 1: one that comes to mind. And here's why, because every year,

1506
01:21:37,920 --> 01:21:42,200
Speaker 1: legions of people will support this product because they believe

1507
01:21:42,600 --> 01:21:47,600
Speaker 1: that Apple is the leader in technology, and with good reasons.

1508
01:21:47,880 --> 01:21:50,759
Speaker 1: Every year there will be a new MacBook, a new phone,

1509
01:21:51,120 --> 01:21:54,240
Speaker 1: a new tablet, or a new watch, and people are

1510
01:21:54,240 --> 01:21:57,559
Speaker 1: going to buy because again, they think and they feel

1511
01:21:57,560 --> 01:21:59,720
Speaker 1: that this is the best product. They've done such a

1512
01:21:59,720 --> 01:22:03,360
Speaker 1: great job with their brand loyalty that when people receive

1513
01:22:03,760 --> 01:22:07,360
Speaker 1: green text messages, you know what that feels like. When

1514
01:22:07,360 --> 01:22:10,479
Speaker 1: you get a green text message, there's an emotional feeling

1515
01:22:10,520 --> 01:22:14,080
Speaker 1: that comes with it. Now, imagine that when people have

1516
01:22:14,120 --> 01:22:16,880
Speaker 1: blue text messages you feel great. When you see a

1517
01:22:16,920 --> 01:22:20,439
Speaker 1: green one, you're like, Eh, somebody's not part of the family.

1518
01:22:20,600 --> 01:22:24,519
Speaker 1: That alone tells you how strong that this brand loyalty is.

1519
01:22:24,880 --> 01:22:27,600
Speaker 1: And it doesn't look like that's going to change anytime

1520
01:22:27,760 --> 01:22:32,080
Speaker 1: in the near future, which makes Apple a perfect company

1521
01:22:32,120 --> 01:22:35,479
Speaker 1: to invest in long term because of its brand loyalty

1522
01:22:35,560 --> 01:22:40,560
Speaker 1: and it's hardcore, die hard fans. Another strategy is cost advantage,

1523
01:22:40,600 --> 01:22:44,240
Speaker 1: and this means that a company can produce prices that

1524
01:22:44,320 --> 01:22:47,080
Speaker 1: are lower than its competition. And when I think about

1525
01:22:47,080 --> 01:22:50,320
Speaker 1: a company that does that very well, I think of Walmart.

1526
01:22:50,720 --> 01:22:52,960
Speaker 1: So Walmart has a couple things that work for it.

1527
01:22:53,120 --> 01:22:56,519
Speaker 1: Number One, they have millions of transactions. And we know

1528
01:22:56,560 --> 01:23:00,400
Speaker 1: what millions of transactions means millions of customers. And with

1529
01:23:00,479 --> 01:23:03,799
Speaker 1: millions of customers, it means that means you have millions

1530
01:23:03,800 --> 01:23:06,559
Speaker 1: of people inside of your database. And that means you

1531
01:23:06,560 --> 01:23:10,120
Speaker 1: can market to those people at a very very low rate.

1532
01:23:10,520 --> 01:23:13,400
Speaker 1: And so when customers come into Walmart, the first thing

1533
01:23:13,439 --> 01:23:16,280
Speaker 1: that they're looking for are lower prices. That's what the

1534
01:23:16,320 --> 01:23:19,040
Speaker 1: brand is known for. So if I'm somebody that's coming

1535
01:23:19,120 --> 01:23:23,040
Speaker 1: into that space, I can't serve my customers at the

1536
01:23:23,080 --> 01:23:26,559
Speaker 1: same price because I won't be able to make enough profit.

1537
01:23:26,880 --> 01:23:29,240
Speaker 1: Why because I don't have the customer base that they have,

1538
01:23:29,840 --> 01:23:33,640
Speaker 1: and I don't have relationships with the type of products

1539
01:23:33,680 --> 01:23:36,240
Speaker 1: and product companies that they have inside of their stores.

1540
01:23:36,560 --> 01:23:39,679
Speaker 1: That's my disadvantage. And so Walmart knows that they lower

1541
01:23:39,720 --> 01:23:42,800
Speaker 1: their prices, which brings them more customers and allows them

1542
01:23:42,800 --> 01:23:46,080
Speaker 1: to have a large customer base long term. So cost

1543
01:23:46,080 --> 01:23:50,840
Speaker 1: advantage is another way that people and companies create economic motes.

1544
01:23:51,760 --> 01:23:56,520
Speaker 1: Another way that people create economic motes are size advantage.

1545
01:23:56,720 --> 01:23:58,800
Speaker 1: And when I'm talking about size advantage, I'm talking about

1546
01:23:58,800 --> 01:24:02,000
Speaker 1: companies that are so large that it's tough to infiltrate

1547
01:24:02,120 --> 01:24:04,719
Speaker 1: the industry. When I think of a company like that,

1548
01:24:04,920 --> 01:24:07,320
Speaker 1: Nike comes to mind. We can't give it on.

1549
01:24:07,680 --> 01:24:11,240
Speaker 2: We give you some important before we let's play the

1550
01:24:11,240 --> 01:24:12,880
Speaker 2: stock one too. But I think that that's something that

1551
01:24:12,920 --> 01:24:14,320
Speaker 2: most people most interesting.

1552
01:24:14,320 --> 01:24:15,320
Speaker 1: I'skim a little bit of this.

1553
01:24:19,840 --> 01:24:23,320
Speaker 2: Stocks are ownership of a company. So you have two

1554
01:24:23,439 --> 01:24:26,880
Speaker 2: different types of companies. You have a private company which

1555
01:24:26,920 --> 01:24:30,759
Speaker 2: is privately held. So meet Troy. We have a company

1556
01:24:30,800 --> 01:24:34,280
Speaker 2: called earn your Leisure. Right. We privately own that company.

1557
01:24:34,320 --> 01:24:37,280
Speaker 2: We make all the decisions, the profit comes in, we

1558
01:24:37,320 --> 01:24:43,080
Speaker 2: pay the employees. That's our company. You have a public

1559
01:24:43,160 --> 01:24:47,160
Speaker 2: company where anybody can become and owned. So you have

1560
01:24:47,280 --> 01:24:51,040
Speaker 2: companies like Apple, like McDonald's, like Nike, all of these

1561
01:24:51,080 --> 01:24:55,000
Speaker 2: companies that you're very familiar with. Right, no one person

1562
01:24:55,120 --> 01:24:58,479
Speaker 2: owns these companies. These companies are public companies. What does

1563
01:24:58,520 --> 01:25:01,360
Speaker 2: that mean? That means that they're public listed on a

1564
01:25:01,479 --> 01:25:06,200
Speaker 2: stock exchange. So there's two major stock exchanges. There's the Nasdaq,

1565
01:25:06,320 --> 01:25:08,679
Speaker 2: which has a lot of technology companies, and then there's

1566
01:25:08,720 --> 01:25:11,080
Speaker 2: the New York Stock Exchange. So when you see Wall

1567
01:25:11,080 --> 01:25:14,240
Speaker 2: Street and you hear about these things, this is what

1568
01:25:14,240 --> 01:25:20,120
Speaker 2: they're referring to. So as a company is public, that

1569
01:25:20,200 --> 01:25:24,000
Speaker 2: means that they have stock. Stock are shares in that company.

1570
01:25:24,080 --> 01:25:27,320
Speaker 2: You could think about it as a huge pizza pie.

1571
01:25:27,800 --> 01:25:29,920
Speaker 2: So if you have a huge pizza pie with a

1572
01:25:30,000 --> 01:25:32,960
Speaker 2: million different slices, right, let's say, each one of those

1573
01:25:32,960 --> 01:25:36,760
Speaker 2: slices represents ownership in the company. So if I own

1574
01:25:37,120 --> 01:25:40,439
Speaker 2: one share out of that million, that means that I'm

1575
01:25:40,479 --> 01:25:44,679
Speaker 2: a owner in that company. Now, as the company goes

1576
01:25:44,800 --> 01:25:48,120
Speaker 2: up in value, my stock price will go up in value.

1577
01:25:48,280 --> 01:25:51,360
Speaker 2: As my stock price goes up in value, I make money.

1578
01:25:51,800 --> 01:25:55,360
Speaker 2: If the company does not do well and goes lower

1579
01:25:55,439 --> 01:25:58,679
Speaker 2: in value, then that means the stock price will go down.

1580
01:25:59,120 --> 01:26:01,920
Speaker 1: It kind of gives us that feeling of when he's

1581
01:26:01,960 --> 01:26:04,920
Speaker 1: in the classroom again. Man, this is like almost fifteen

1582
01:26:05,000 --> 01:26:07,479
Speaker 1: years now ago with this is what it was like

1583
01:26:07,680 --> 01:26:09,800
Speaker 1: in the band room and Willland shot everybody that was

1584
01:26:09,800 --> 01:26:12,680
Speaker 1: part of Operation Crossroads. But yeah, man, getting back to

1585
01:26:12,680 --> 01:26:16,080
Speaker 1: the roots of where it started is widely important to us.

1586
01:26:16,120 --> 01:26:19,880
Speaker 1: And like I said, it's a labor of love, man,

1587
01:26:19,880 --> 01:26:25,120
Speaker 1: because all starts in education, and this is where our

1588
01:26:25,160 --> 01:26:28,000
Speaker 1: journey kind of started. So that was a little sneak preview, man.

1589
01:26:28,040 --> 01:26:29,640
Speaker 2: So I think the stock thing is interesting because I

1590
01:26:29,640 --> 01:26:31,240
Speaker 2: know a lot of people ask that's a major question,

1591
01:26:31,280 --> 01:26:32,720
Speaker 2: like teaching kids about stock. So that's why I want

1592
01:26:32,800 --> 01:26:35,160
Speaker 2: for that video. But you can really literally just duplicate

1593
01:26:35,200 --> 01:26:37,280
Speaker 2: what that video says. As far as the pizza pie

1594
01:26:37,560 --> 01:26:40,479
Speaker 2: the private company the public company. But then even giving

1595
01:26:40,520 --> 01:26:45,160
Speaker 2: them different task as far as you're going Yahoo finance

1596
01:26:45,200 --> 01:26:48,080
Speaker 2: and you just print out a sheet of like, you know,

1597
01:26:48,280 --> 01:26:50,800
Speaker 2: fifty two weeks low, fifty two weeks high, give them

1598
01:26:50,800 --> 01:26:52,800
Speaker 2: like a couple of companies that they're already familiar with,

1599
01:26:53,280 --> 01:26:57,920
Speaker 2: like Nike, Apple, Amazon, whatever, right, and then you know

1600
01:26:58,120 --> 01:27:00,760
Speaker 2: to have them just feeling like fifty two weeks low,

1601
01:27:00,800 --> 01:27:06,599
Speaker 2: what the fifty two week high is? What is the ticker? Right,

1602
01:27:06,640 --> 01:27:08,400
Speaker 2: And then you just explained to them, like all the

1603
01:27:08,479 --> 01:27:13,840
Speaker 2: ticker is the abbreviation, right, that's what stocks they're not

1604
01:27:14,479 --> 01:27:17,679
Speaker 2: their full name on the market, that their letters.

1605
01:27:17,760 --> 01:27:17,880
Speaker 1: Right.

1606
01:27:18,200 --> 01:27:20,640
Speaker 2: Then you explain, Okay, the fifty two week lowest the

1607
01:27:20,680 --> 01:27:22,840
Speaker 2: lowest that it was for that week and then for

1608
01:27:22,920 --> 01:27:25,000
Speaker 2: that year, and then the fifty two week high is

1609
01:27:25,040 --> 01:27:26,760
Speaker 2: the highest that it was for that year, right, and

1610
01:27:26,800 --> 01:27:29,600
Speaker 2: you're explain, Okay, if the stock goes up, then that

1611
01:27:29,720 --> 01:27:33,120
Speaker 2: means that if you invest in money, then your value

1612
01:27:33,160 --> 01:27:35,320
Speaker 2: is going to increase. If the stock goes down, then

1613
01:27:35,320 --> 01:27:37,519
Speaker 2: your value is going to decrease. Then you can even

1614
01:27:37,560 --> 01:27:40,639
Speaker 2: do like some mathematical equations like okay, if it goes

1615
01:27:40,680 --> 01:27:43,679
Speaker 2: from fifty two one hundred, then what's the percentage increase

1616
01:27:43,720 --> 01:27:46,439
Speaker 2: of that or one hundred percent? Right? Okay, Well, now

1617
01:27:46,520 --> 01:27:51,400
Speaker 2: you know, so teaching that's important lesson entry level to

1618
01:27:51,520 --> 01:27:53,479
Speaker 2: just kind of learn what stocks are, because a lot

1619
01:27:53,479 --> 01:27:56,040
Speaker 2: of adults don't even know about stocks. So you could

1620
01:27:56,080 --> 01:27:58,720
Speaker 2: teach them on a very elementary level to kind of

1621
01:27:58,760 --> 01:28:01,559
Speaker 2: just have them under stand things. And like I said,

1622
01:28:01,640 --> 01:28:03,240
Speaker 2: now you can even what you can also do is

1623
01:28:03,280 --> 01:28:07,000
Speaker 2: create a stock journal for them if they want to,

1624
01:28:07,080 --> 01:28:10,800
Speaker 2: you know, track stocks, their favorite stocks, Like, okay, like

1625
01:28:10,880 --> 01:28:15,400
Speaker 2: every every week, we're going to track the price of apple. Right,

1626
01:28:15,400 --> 01:28:17,639
Speaker 2: You're going to start You're going to track the price

1627
01:28:17,680 --> 01:28:20,040
Speaker 2: of apple and see, you know, what it does over

1628
01:28:20,080 --> 01:28:22,920
Speaker 2: the course of a year. Right. And in between that,

1629
01:28:23,080 --> 01:28:25,400
Speaker 2: you know, you're going to look at different news articles

1630
01:28:25,439 --> 01:28:28,280
Speaker 2: that come out and different things that and then and

1631
01:28:28,320 --> 01:28:30,439
Speaker 2: then you introduce new things to the mobile course of time,

1632
01:28:30,640 --> 01:28:32,439
Speaker 2: pe racial stuff like they don't do that right away,

1633
01:28:32,439 --> 01:28:37,200
Speaker 2: but you can kind of teach them over the course

1634
01:28:37,280 --> 01:28:39,519
Speaker 2: of time. But you start with the basics as far

1635
01:28:39,560 --> 01:28:42,960
Speaker 2: as what a stock is, the difference between a private

1636
01:28:43,000 --> 01:28:49,120
Speaker 2: and publicly held company, the different stock exchanges, the abbreviations

1637
01:28:49,160 --> 01:28:52,719
Speaker 2: that's used to categorize the stocks on the market, the highs,

1638
01:28:52,720 --> 01:28:58,400
Speaker 2: the lows, the current price, what what time the stock

1639
01:28:58,439 --> 01:29:01,080
Speaker 2: market opens? With time is stock market closes? You know,

1640
01:29:01,120 --> 01:29:03,360
Speaker 2: stuff like that. It's very elementary, but it gives them

1641
01:29:03,360 --> 01:29:05,559
Speaker 2: a good understanding of, at least, you know, at the

1642
01:29:05,600 --> 01:29:08,280
Speaker 2: beginning level of stocks. And you'd be surprised, like just

1643
01:29:08,280 --> 01:29:11,240
Speaker 2: having that information puts you ahead of a lot of people,

1644
01:29:11,320 --> 01:29:13,240
Speaker 2: even a lot of adults who have no idea about

1645
01:29:13,280 --> 01:29:13,840
Speaker 2: stocks at all.

1646
01:29:13,920 --> 01:29:15,960
Speaker 1: Yeah, and that's why I think the responsive piece of

1647
01:29:16,000 --> 01:29:21,360
Speaker 1: it makes it so unique. And the market changes every day, right,

1648
01:29:21,439 --> 01:29:23,639
Speaker 1: So if the side market is open Monday through Friday,

1649
01:29:23,800 --> 01:29:26,880
Speaker 1: but nine thirty to four, it's moving, right, So by

1650
01:29:26,960 --> 01:29:28,719
Speaker 1: the time you come into school the next day, things

1651
01:29:28,720 --> 01:29:31,280
Speaker 1: have changed. So Monday is not going to look like

1652
01:29:31,320 --> 01:29:34,200
Speaker 1: what Friday looks like, right, and Tuesday is not gonna

1653
01:29:34,200 --> 01:29:36,519
Speaker 1: look what Thursday looks like. So it gives an opportunity

1654
01:29:36,560 --> 01:29:39,280
Speaker 1: as an educator to now really track it not only

1655
01:29:39,360 --> 01:29:41,880
Speaker 1: just for a day, but for a week, for two weeks,

1656
01:29:41,880 --> 01:29:43,599
Speaker 1: for a month, for a marketing period. You could track

1657
01:29:43,640 --> 01:29:45,640
Speaker 1: it through the entire school year if you like. And

1658
01:29:45,960 --> 01:29:48,880
Speaker 1: I've seen educators who actually had a little ticket that

1659
01:29:48,920 --> 01:29:51,599
Speaker 1: went inside that classroom just because they wanted to make

1660
01:29:51,600 --> 01:29:53,479
Speaker 1: sure that everybody was aware of the stocks that were

1661
01:29:53,520 --> 01:29:55,240
Speaker 1: invested in. And you can change it and adapt it.

1662
01:29:55,479 --> 01:29:57,599
Speaker 1: But it's happening in real time. Right when you're talking

1663
01:29:57,640 --> 01:30:01,400
Speaker 1: about private and publicly traded, they're watching it in real time.

1664
01:30:01,520 --> 01:30:01,640
Speaker 2: Right.

1665
01:30:01,720 --> 01:30:05,320
Speaker 1: If I asked them about Twitter, well, something happened with Twitter.

1666
01:30:05,400 --> 01:30:07,680
Speaker 1: But in the last year, right, that used to be

1667
01:30:07,880 --> 01:30:10,840
Speaker 1: a company that was publicly traded. There's a guy named

1668
01:30:10,880 --> 01:30:12,960
Speaker 1: Elon Musk who bought it and now it's a privately

1669
01:30:12,960 --> 01:30:15,880
Speaker 1: traded company. So the things that happening in real time,

1670
01:30:16,120 --> 01:30:18,720
Speaker 1: we can be responsive in education in real time once

1671
01:30:18,720 --> 01:30:21,840
Speaker 1: again makes it unique and unlike any education that we've seen,

1672
01:30:21,880 --> 01:30:24,240
Speaker 1: especially when I've seen when it's history and you learn

1673
01:30:24,360 --> 01:30:25,840
Speaker 1: history and it's like, oh, we got to wait to

1674
01:30:25,920 --> 01:30:28,920
Speaker 1: update the textbooks and who's in those textbooks and what's

1675
01:30:28,960 --> 01:30:33,640
Speaker 1: really being taught. And so it's adaptive, it's responsive, and

1676
01:30:34,280 --> 01:30:36,840
Speaker 1: for me, I think it's the new way education is

1677
01:30:36,840 --> 01:30:37,839
Speaker 1: going to look in the future.

1678
01:30:42,120 --> 01:30:46,040
Speaker 3: And I think, just to put a nice bow on it,

1679
01:30:46,040 --> 01:30:49,240
Speaker 3: it's really as you see with the videos, everybody out

1680
01:30:49,240 --> 01:30:51,920
Speaker 3: there in the audience, look how engaging it is. When

1681
01:30:51,960 --> 01:30:55,760
Speaker 3: we talk about gamification, when we talk about engagement and

1682
01:30:55,800 --> 01:31:00,360
Speaker 3: really getting young people connected to the stock market, to businesiness.

1683
01:31:00,560 --> 01:31:03,400
Speaker 3: This curriculum does it like we pull out all the

1684
01:31:03,479 --> 01:31:06,479
Speaker 3: stops to make sure that this curriculum is connected to

1685
01:31:07,200 --> 01:31:10,439
Speaker 3: their culture and to your point, Chore, it's evergreen. So

1686
01:31:10,520 --> 01:31:13,599
Speaker 3: as the market change is as things change, we can

1687
01:31:13,640 --> 01:31:19,080
Speaker 3: create videos, we can create create case studies that connect

1688
01:31:20,360 --> 01:31:23,640
Speaker 3: what's happening now, so it doesn't become a dinosaur. And

1689
01:31:23,880 --> 01:31:25,800
Speaker 3: I think that's the portant. So we have to get

1690
01:31:25,800 --> 01:31:27,920
Speaker 3: this big. The bottom line is we have to get

1691
01:31:28,240 --> 01:31:31,360
Speaker 3: young people this curriculum, get these young people to hear

1692
01:31:31,400 --> 01:31:34,160
Speaker 3: from both of you so that we can really build

1693
01:31:34,240 --> 01:31:38,479
Speaker 3: a new financial a new financial group of young people

1694
01:31:38,520 --> 01:31:40,559
Speaker 3: that can really move this country in a really a

1695
01:31:40,600 --> 01:31:43,920
Speaker 3: really amazing way. So we're just really excited to bring

1696
01:31:43,960 --> 01:31:47,360
Speaker 3: this into school. Let you get the salon this. We

1697
01:31:48,120 --> 01:31:50,760
Speaker 3: missed out so much more. Go ahead.

1698
01:31:51,160 --> 01:31:52,479
Speaker 1: I said, they had you in the matrix for like

1699
01:31:52,520 --> 01:31:53,799
Speaker 1: two seconds, but you back.

1700
01:31:53,640 --> 01:31:58,599
Speaker 3: Now, Oh yeah, sorry about that. But again, we don't

1701
01:31:58,600 --> 01:31:59,880
Speaker 3: want to we don't want to miss out black and

1702
01:32:00,040 --> 01:32:03,360
Speaker 3: brown people. We've missed out on revolutions in the past.

1703
01:32:04,000 --> 01:32:07,799
Speaker 3: We can't miss out on this. We missed the technological revolution.

1704
01:32:08,120 --> 01:32:12,120
Speaker 3: We didn't participate in that financial revolution is here. You

1705
01:32:12,160 --> 01:32:15,320
Speaker 3: see two guys that are leaders of this new school, Like,

1706
01:32:15,400 --> 01:32:18,200
Speaker 3: let's jump in. Bring these guys into your classroom. You

1707
01:32:18,200 --> 01:32:23,120
Speaker 3: can have real up to date information about financial literacy

1708
01:32:23,160 --> 01:32:24,960
Speaker 3: to start the discussion that we can bring from the

1709
01:32:25,000 --> 01:32:30,160
Speaker 3: classroom the home. Let's it makes no sense why while

1710
01:32:30,200 --> 01:32:34,160
Speaker 3: we won't have financial education in our schools, parents go

1711
01:32:34,240 --> 01:32:39,440
Speaker 3: to your school advocate. Your kids are not learning about money.

1712
01:32:39,520 --> 01:32:42,840
Speaker 3: They're going to fall victims to money. Consumerism is around us.

1713
01:32:43,120 --> 01:32:45,920
Speaker 3: We've been saying this, these two gentlemen that miss amies

1714
01:32:45,920 --> 01:32:48,160
Speaker 3: for a long time. It's time that we take heed

1715
01:32:48,520 --> 01:32:50,360
Speaker 3: and bring this to our kids. They have nothing but

1716
01:32:50,439 --> 01:32:51,240
Speaker 3: time on this side.

1717
01:32:51,520 --> 01:32:54,920
Speaker 2: Yeah, for sure. And I think even outside of that,

1718
01:32:55,000 --> 01:32:57,719
Speaker 2: like I said, just for regular parents that's just teaching

1719
01:32:57,720 --> 01:33:02,640
Speaker 2: their kids. You have to do it. It's great if

1720
01:33:02,680 --> 01:33:04,120
Speaker 2: we could have it in the school, but even if

1721
01:33:04,120 --> 01:33:06,240
Speaker 2: it's not in the school, you still got to have

1722
01:33:06,960 --> 01:33:10,280
Speaker 2: the responsibility of educating your child. And this was just

1723
01:33:10,280 --> 01:33:14,439
Speaker 2: some tips to kind of help you get started. And

1724
01:33:14,479 --> 01:33:16,040
Speaker 2: then from there, it's like, you know, you learn from there,

1725
01:33:16,120 --> 01:33:17,519
Speaker 2: like you know, but I feel like it's a good

1726
01:33:17,560 --> 01:33:22,839
Speaker 2: foundation at the very least from just the gamification aspect

1727
01:33:23,080 --> 01:33:25,840
Speaker 2: Game Night, the more technical stuff when it comes to

1728
01:33:25,960 --> 01:33:30,120
Speaker 2: how to explain stocks you know, provide want to provide

1729
01:33:30,240 --> 01:33:33,360
Speaker 2: framework for you, right, But it's important that you continue

1730
01:33:33,400 --> 01:33:35,839
Speaker 2: your educational journey and you learn as much as possible

1731
01:33:35,880 --> 01:33:39,280
Speaker 2: as a parent, because the more you learn, the more

1732
01:33:39,400 --> 01:33:41,960
Speaker 2: you'll be able to educate your child, or at least

1733
01:33:42,000 --> 01:33:44,879
Speaker 2: you have some framework to work off. If that's important.

1734
01:33:45,160 --> 01:33:50,360
Speaker 1: Absolutely important. So I mean we provided free education on

1735
01:33:50,400 --> 01:33:53,720
Speaker 1: our podcast for six years now with any leisure and

1736
01:33:53,760 --> 01:33:55,519
Speaker 1: so if you have a need a resource to go

1737
01:33:55,600 --> 01:33:58,080
Speaker 1: back and hear some of the information, is there market

1738
01:33:58,120 --> 01:34:00,360
Speaker 1: money this is a great source as well. So we're

1739
01:34:00,360 --> 01:34:04,000
Speaker 1: gonna We're not gonna stop aviding education. It's been our passion,

1740
01:34:04,000 --> 01:34:06,400
Speaker 1: has been our purpose, so we're gonna keep aviding it.

1741
01:34:06,400 --> 01:34:08,559
Speaker 1: But like you said that, there's there's so many tools

1742
01:34:09,200 --> 01:34:13,760
Speaker 1: and these are just thementary level ones. But education not

1743
01:34:13,920 --> 01:34:16,080
Speaker 1: relegated to just the school building, y'a. We have to

1744
01:34:16,120 --> 01:34:19,519
Speaker 1: be very convencider that and travels. I think you said it, man,

1745
01:34:19,800 --> 01:34:22,559
Speaker 1: if you're not learning about education, if you're not learning

1746
01:34:22,600 --> 01:34:25,439
Speaker 1: about finance, you're gonna work for somebody who did Uh,

1747
01:34:25,479 --> 01:34:26,559
Speaker 1: and so we got to make sure that we're on

1748
01:34:26,560 --> 01:34:27,280
Speaker 1: the end of that.

1749
01:34:28,360 --> 01:34:31,200
Speaker 2: Definitely and traps. So how how can they get in

1750
01:34:31,200 --> 01:34:32,760
Speaker 2: contact with you even if they want to learn more

1751
01:34:32,760 --> 01:34:36,559
Speaker 2: about the curriculum and everything. What's your your contact then for.

1752
01:34:36,680 --> 01:34:39,400
Speaker 3: You just go to Earners Academy that all and just

1753
01:34:39,439 --> 01:34:41,559
Speaker 3: fill out the form right there and we'll get right

1754
01:34:41,600 --> 01:34:42,120
Speaker 3: in touch with you.

1755
01:34:43,800 --> 01:34:48,520
Speaker 2: There you have it for you, school principles and advocators,

1756
01:34:48,800 --> 01:34:57,000
Speaker 2: parent teachers, association members and superintendents vitally importantation, super super important.

1757
01:34:57,200 --> 01:35:03,040
Speaker 2: And then there's a bunch of great resources for parents

1758
01:35:03,040 --> 01:35:05,600
Speaker 2: as well, and we laying out some more stuff. We

1759
01:35:05,640 --> 01:35:08,559
Speaker 2: do a different series on for parents. But like I said,

1760
01:35:08,560 --> 01:35:11,120
Speaker 2: the best thing I think parents can do is educate themselves.

1761
01:35:11,160 --> 01:35:14,240
Speaker 2: So as a parent, make sure you're educating yourself and

1762
01:35:14,280 --> 01:35:16,760
Speaker 2: everything that you learn, try to pass it down in

1763
01:35:16,800 --> 01:35:23,720
Speaker 2: a digestible, fun, relatable manner that involves competition and gamification

1764
01:35:24,240 --> 01:35:24,920
Speaker 2: or learn with your.

1765
01:35:24,920 --> 01:35:28,880
Speaker 1: Kids, right like y'all can learn together, because there's nothing

1766
01:35:28,880 --> 01:35:31,600
Speaker 1: more beautiful than that. Man. When when my kids know

1767
01:35:31,640 --> 01:35:34,720
Speaker 1: something I don't, I'm honored by it, right Like when

1768
01:35:34,760 --> 01:35:36,000
Speaker 1: I get to learn from them, when I get to

1769
01:35:36,040 --> 01:35:38,920
Speaker 1: learn from students like they're bringing something fresh. They ask

1770
01:35:38,960 --> 01:35:41,000
Speaker 1: a question that I have to go research that that

1771
01:35:41,080 --> 01:35:42,800
Speaker 1: sparts my brain. They're like, all right, they thinking at

1772
01:35:42,840 --> 01:35:45,160
Speaker 1: a different level. They saw something differently. Now let me

1773
01:35:45,200 --> 01:35:46,599
Speaker 1: go do the research so I can bring it back

1774
01:35:46,600 --> 01:35:48,519
Speaker 1: to the room, the classroom. So we should be doing

1775
01:35:48,520 --> 01:35:49,800
Speaker 1: the same thing inside our households.

1776
01:35:50,120 --> 01:35:52,880
Speaker 2: You have it, ladies and gentlemen. All right, guys, we

1777
01:35:52,920 --> 01:35:56,880
Speaker 2: will see you guys later. Take care, all right.

1778
01:35:56,920 --> 01:35:57,840
Speaker 1: Love is love. You'rll peace.

1779
01:35:57,960 --> 01:36:01,599
Speaker 5: An illegal alien from Guatemala charged with raping a child

1780
01:36:01,640 --> 01:36:05,440
Speaker 5: in Massachusetts. An MS thirteen gang member from Al Salvador

1781
01:36:05,680 --> 01:36:09,800
Speaker 5: accused of murdering a Texas man of Venezuelan charged with

1782
01:36:09,880 --> 01:36:13,760
Speaker 5: filming and selling child pornography in Michigan. These are just

1783
01:36:13,880 --> 01:36:17,639
Speaker 5: some of the heinous migrant criminals caught because of President

1784
01:36:17,680 --> 01:36:21,200
Speaker 5: Donald J. Trump's leadership. I'm Christy Noman, the United States

1785
01:36:21,280 --> 01:36:26,040
Speaker 5: Secretary of Homeland Security. Under President Trump, attempted illegal border

1786
01:36:26,080 --> 01:36:29,639
Speaker 5: crossings are at the lowest levels ever recorded, and over

1787
01:36:29,720 --> 01:36:32,920
Speaker 5: one hundred thousand illegal aliens have been arrested. If you

1788
01:36:33,000 --> 01:36:36,840
Speaker 5: are here illegally, your next you will be fined nearly

1789
01:36:36,920 --> 01:36:40,960
Speaker 5: one thousand dollars a day. Imprisoned and deported, you will

1790
01:36:41,000 --> 01:36:44,639
Speaker 5: never return. But if you register using our CBP home

1791
01:36:44,680 --> 01:36:48,040
Speaker 5: app and leave now, you could be allowed to return legally.

1792
01:36:48,400 --> 01:36:53,160
Speaker 5: Do what's right. Leave now. Under President Trump America's laws,

1793
01:36:53,320 --> 01:36:55,759
Speaker 5: border and families will be protected.

1794
01:36:55,880 --> 01:36:58,000
Speaker 1: Sponsored by the United States Department of Homeland Security,