Speaker 1: Welcome to Reasonably Shady, a production of The Black Effect
Speaker 1: Podcast Network and I Heart Radio. Hello and welcome to
Speaker 1: another episode of Reasonably Shady. I am Gazelle Bryant. What's up?
Speaker 1: What's up everyone? I am Robin Dixon. Thank you once
Speaker 1: again for being here with us. Now, Robin, have you
Speaker 1: Valentine's Day? Poo? Whatever do you mean? It's like, this
Speaker 1: is a um, what do they call it? A holiday
Speaker 1: where they just make money? What's that called? What do
Speaker 1: they call these things? Commercial? This is a commercial holiday.
Speaker 1: It is so not commercials. That's just because you have
Speaker 1: been in a relationship with the same person for five huntrees.
Speaker 1: Valentie's they should be every day, shouldn't. Yes. I like that.
Speaker 1: I feel like that's like letting them off the hook
Speaker 1: for like the other three hundred and sixty four days
Speaker 1: of the year. Okay, just treat me, Okay, treat me.
Speaker 1: Get on Valentine's Day, my birthday and Christmas nas like, nah,
Speaker 1: bring me flowers every week? Okay, does does want to
Speaker 1: do that? I'm just I'm asking me. Okay, I get you.
Speaker 1: I understand that, and I feel that totally like men
Speaker 1: should definitely appreciate us at all times. However, don't like
Speaker 1: disregard me on Valentine's Day and not send me my
Speaker 1: flowers and my chocolate and my diamonds and my purls.
Speaker 1: You want it all, I want it all, so you like,
Speaker 1: So when you're in a relationship or even when you're dating,
Speaker 1: like you really expect to be, it's a thing. It's
Speaker 1: a situation. Oh for sure. Even when I was married,
Speaker 1: it was a situation. Oh yeah, you're going to fly.
Speaker 1: I mean, you're going to like what it's called lavish me,
Speaker 1: give me everything. Damn yes. Okay, so do you do
Speaker 1: the same for him? No, Valentine's Day is about the woman. No,
Speaker 1: it's not. That's what That's how I feel. That's how
Speaker 1: yourself feels like a Valentine, like, oh, will you be
Speaker 1: my Valentine? Like you know, in school, first of all, okay,
Speaker 1: did they even do them little stupid cards anymore? But
Speaker 1: they're not like will you be my Valentine? They're like,
Speaker 1: you're really cool, right because because in the end it's like, um,
Speaker 1: here's the list of all the kids in the class
Speaker 1: and no, no, no, no that too, but oh no no,
Speaker 1: it's like don't even think about peanuts. But here's a
Speaker 1: list of all the kids in the class, and you
Speaker 1: must bring one Valentine for everybody, because I remember, and
Speaker 1: which is that's so corny first of all, that you
Speaker 1: no let the kid bring a Valentine for the people
Speaker 1: that they want to bring a Valentine too. I remember
Speaker 1: the excitement when I was in school and it was like,
Speaker 1: who's going to give me something? You know what I mean? Like,
Speaker 1: and it wasn't like you don't expect something from everyone.
Speaker 1: But now it's like everyone has to be trained it fairly,
Speaker 1: in the same and evenly, and everyone has if you're special,
Speaker 1: and if you can't do for all, you can't do
Speaker 1: for any So that's no more at those stupid hard,
Speaker 1: nasty as heart candy. Yes, I do like candy corn,
Speaker 1: I don't like Okay, for the record, our shady moment
Speaker 1: is Robin. It is so shady with Valentine's Day. But
Speaker 1: can I tell you all that like growing up, my
Speaker 1: father always gave me chocolate for Valentine's Day. Ye until
Speaker 1: I even went to college, he failed it to me.
Speaker 1: So that taught me to make sure that the man
Speaker 1: that I'm dealing with in the moment in February needs
Speaker 1: to represent, honey, and if you don't represent, I'm gonna
Speaker 1: break up with you the end. I love it. Okay,
Speaker 1: So I'm reasonable in your shady Okay. Fine. We have
Speaker 1: so much to get into today. This is our financial
Speaker 1: Monday with some very important people. So we're getting into
Speaker 1: it all right. We've got some heavy hitters here today.
Speaker 1: I'm so excited, Robin Tell So we got all right, y'all.
Speaker 1: I am so excited to introduce our guests today. Um, listen,
Speaker 1: these guys have so much information to bring to you.
Speaker 1: You are going to learn so much from them, and
Speaker 1: once you start following them and listening to them, you
Speaker 1: probably already are. Anyway. We are joined today by Troy
Speaker 1: Millings and Rashad Balau of Earn Your Leisure podcasts, giving
Speaker 1: you the behind the scenes financial views into the entertainment
Speaker 1: and sports industries, as well as highlighting backstories of entrepreneurs.
Speaker 1: They also break down business models and examine the latest
Speaker 1: trends in finance. Earn Your Leisure is a college business
Speaker 1: class mixed with pop culture. They blend the two together
Speaker 1: for a unique and exciting look into the world of business.
Speaker 1: They aim to expand the conversation of financial literacy while
Speaker 1: educating as many people as possible. Before launching earn Your
Speaker 1: Leisure in twenty nineteen, Blau and Millings, we're teaching financial
Speaker 1: literacy to public school students in the Bronx, New York.
Speaker 1: While working as an elementary school physical education educator. Millings
Speaker 1: incorporated financial literacy into his lesson plans during summer school classes.
Speaker 1: UM Earnier Leisure has over five million downloads on the podcast.
Speaker 1: They have multiple podcasts that have stemmed from Earnier Leisure.
Speaker 1: They have over one million Instagram followers, over five hundred
Speaker 1: thousand YouTube subscribers, and many, many, many other streams of
Speaker 1: income that I'm gonna let you'all tell tell I'm gonna
Speaker 1: let them tell us about because there's too many for
Speaker 1: me to even name. But they are doing their thing.
Speaker 1: Welcome guys to the podcast. We appreciate you for joining us. Yes, yes, yes,
Speaker 1: now um and also, uh, we forgot to mention that
Speaker 1: they are part of our Black Affect family. These are
Speaker 1: our brothers. These are our brothers in in the space.
Speaker 1: So y'all are very important. First and foremost, are y'all married?
Speaker 1: Y'all single? Like, what's the status here? I'm married? I'll yeah,
Speaker 1: now I'm single, I'm saying, okay, alright, so we have
Speaker 1: some ice breaker questions for you guys, first and foremost,
Speaker 1: all right, now do and the reason why I asked
Speaker 1: if you married a single is when you go to dinner,
Speaker 1: do you make your partner split the bill? Never? No? Never? Never? Okay,
Speaker 1: if you're on if you're on a date and you
Speaker 1: don't really know her that well and she's like new,
Speaker 1: do you make her split the bill? No? I mean
Speaker 1: you know me. I mean Troy too. We were old school.
Speaker 1: So even if it's just like a friend, like if
Speaker 1: it's just a female friend, like we're not even really
Speaker 1: dating and not like somebody's just hanging out with us,
Speaker 1: like women don't pay for anything when they when they're
Speaker 1: around us, like I'm we were out with the ladies
Speaker 1: from reasonable shady. It's on us. That's you know. That's
Speaker 1: good to know because you all are so financially responsible,
Speaker 1: you don't sure if y'all be up in there, like, well, no,
Speaker 1: you know, I paid the other day, so that's your
Speaker 1: turn to pay. And it's not in the budget this
Speaker 1: week because I've left many of dates for that reason. Okay,
Speaker 1: that will not get you date number two. I'm just
Speaker 1: here to say it. So, Okay, So specific beleiver shod
Speaker 1: Is is dating someone who has poor money habits? Is
Speaker 1: that a deal breaker? Like? Are you what happens when
Speaker 1: you see a female or whatever and and their financial
Speaker 1: habits don't really match up to yours? How do you
Speaker 1: feel about that? No, I'm not really on it like that.
Speaker 1: I don't really look at somebody's like credit score, like
Speaker 1: you know, with the with their bank balances. Um, you know,
Speaker 1: for me, it's more so like the vibe of the
Speaker 1: person have fun, if they're a good person or not.
Speaker 1: How I look at it. Fortunately, I'm not really dependent
Speaker 1: on somebody for finances, so it doesn't really matter to
Speaker 1: me what their financial situation is. Um. Of course it's
Speaker 1: always beneficially if they have a good financial situation. But
Speaker 1: it's not a deal breaker for me because I honestly
Speaker 1: don't even really think about it too much. But if
Speaker 1: you were thinking, like, okay, if you're getting close to
Speaker 1: someone you're like thinking about marriage, is that important in
Speaker 1: a mate a potential spouse that they are financially responsible?
Speaker 1: Like that's something that you can like teach them about. Okay,
Speaker 1: I feel like, you can definitely educate people. That's what
Speaker 1: we do for a living, is educate people. So I
Speaker 1: feel like our relationship is meant to be a form
Speaker 1: of education. Like a woman should educate her man, a
Speaker 1: man should educate his woman, and you should learn together.
Speaker 1: So you know, if my strong point is financing and investing,
Speaker 1: then the woman that i'm what doesn't necessarily have to
Speaker 1: be strong in that area. But that's my responsibility to
Speaker 1: educate her and to you know, show her different things,
Speaker 1: and you know, hopefully she'll be able to you know,
Speaker 1: get it. Um. So yeah, it's not something that I
Speaker 1: really put too much UM attention on as long as
Speaker 1: you're not like, you know, go and do something that's
Speaker 1: just totally you know, dangerous, like to the situation and school. Okay,
Speaker 1: I love that. Now you guys, um are all over
Speaker 1: the place, y'all on Today Show, y'all getting ridden, Good
Speaker 1: y'all on Good Morning America, getting ridded up, written up
Speaker 1: in the Wall Street journals and whatnot. How did you
Speaker 1: all get together? How did earn your leisure? Get together?
Speaker 1: It seems like you're all are really good friends and
Speaker 1: you got y'all have a million their different entities, businesses.
Speaker 1: So tell us how how this started with the two
Speaker 1: of you guys with yourldhood friends. UM. So I met
Speaker 1: him when I was like twelve years old. Thirteen years old. Uh,
Speaker 1: he's two years younger than me. So we were We
Speaker 1: went to the same high school, grew up in the
Speaker 1: same neighborhood. UM went to the same community centers, our friends,
Speaker 1: our family, our friends, so we all grew up together. UM.
Speaker 1: He went into a career of athletics. UM. And then
Speaker 1: when he left school, UH, chose a career in finance.
Speaker 1: And I was in school and I went to education
Speaker 1: and he always he always used to joke on me
Speaker 1: about that. He's like, yo, man, we went to school
Speaker 1: our whole lives. How you go back? Like what's wrong
Speaker 1: with you? Um? And so we were starting our careers
Speaker 1: at the same time. I was teaching. He was doing
Speaker 1: the financial financial advising and UM I had the summer
Speaker 1: program while I was interviewing kids to see about what
Speaker 1: they wanted to do in the future. And I would
Speaker 1: go out in the community and try to match them
Speaker 1: with a prospect of like an internship, and UM, based
Speaker 1: on how they performed at the internship, I was going
Speaker 1: to pay him at the end of the program. And
Speaker 1: so it was the first time that these young teens,
Speaker 1: right they were like fourteen years old. They had aged
Speaker 1: out of the camp experience, but they were too young
Speaker 1: to work. But the first time they were going to
Speaker 1: come in contact with money, and UM knowing that, I said,
Speaker 1: they need to learn about money. I said, we need
Speaker 1: to create something for them to learn about the money
Speaker 1: and what you can do with it, how you can
Speaker 1: save it, how you can share it, how you can
Speaker 1: invest it. And so financial literacy was one of those
Speaker 1: things like I was working in a city like that
Speaker 1: wasn't something that's talked about in schools, and I knew it,
Speaker 1: like I was great in state tests, like I've given tests.
Speaker 1: I know, like these things are not being spoken about.
Speaker 1: And I was like, this is an opportunity to create
Speaker 1: something that's gonna last for a lifetime. And so that's
Speaker 1: why we kind of like started in the space of
Speaker 1: financial literacy. He was doing UM social media time. I
Speaker 1: let him speak about it, and UM decided why we
Speaker 1: were teaching, let's record what we're doing, because you know,
Speaker 1: we could probably use this as an asset in the future.
Speaker 1: And he had to. He had the foresight to see
Speaker 1: it and um it got us here. Okay, I love that.
Speaker 1: And you guys have this podcast has been rocking for
Speaker 1: how long? Three years? Three years? Okay, very nice. Three years.
Speaker 1: And you all now have other podcasts that have kind
Speaker 1: of like spinoffs of Earnier Leisure. You also have multiple
Speaker 1: Screens of Income that have spun off from Earnier Leisure.
Speaker 1: Tell us all about everything y'all have going on. Just
Speaker 1: run it down, Run it down. Yeah, I mean, we
Speaker 1: have a podcast network, so that is you know, we developed,
Speaker 1: you know, a niche in the podcast space with the finance,
Speaker 1: and you know, we kind of got good at promoting
Speaker 1: it on social media things for things of that nature.
Speaker 1: So it made sense for us to kind of help
Speaker 1: other people produce their show. So now we have a
Speaker 1: podcast network, E y O network. So we have Market
Speaker 1: Mondays that's like a huge, huge success. That's a stock show. Um,
Speaker 1: that's every Monday. Then we have Rants and Gym's which
Speaker 1: is a real estate podcast, and we have In a Wealth,
Speaker 1: which is an entrepreneurship podcast. No in a Wealth, which
Speaker 1: is a mental health podcast, Inside the Vault which is
Speaker 1: an entrepreneurship podcast, and then we also have Dream Nation,
Speaker 1: which is another business podcast. So that's what's under the
Speaker 1: umbrella of E y O Network, and then it's fall
Speaker 1: as the different businesses that we have. So, you know,
Speaker 1: one of the good things about doing our show is
Speaker 1: that it's a learning experience, not just for the audience
Speaker 1: before ourselves. So every time we interview our entrepreneur, it
Speaker 1: gives us some insight into what they have going on
Speaker 1: and allows us to actually brainstorm or if we want
Speaker 1: to start businesses in that type of area. So one
Speaker 1: of the things that we actually did was purchase a truck,
Speaker 1: like an eighteen wheeler, So that was a big that
Speaker 1: was a big episode for us. So we have a
Speaker 1: truck on the road, so that's a that's a revenue
Speaker 1: stream logistics. Then we have um vending machines. Yeah saw
Speaker 1: today I'll posted about Vendom machines. Yeah, Vendom machines. That's
Speaker 1: in our old high school. So that was cool. That's
Speaker 1: something that we got from our episode. Uh. Merch is
Speaker 1: something that we didn't necessarily get from an episode, but
Speaker 1: that's become like his own stream within itself as far
Speaker 1: as like a business spin off. And then the live
Speaker 1: events space is something that's really really big for us. So, um,
Speaker 1: you know, we had a festival last year called invest Fest,
Speaker 1: which was four thousand people in that I'm looking to
Speaker 1: scale that up even even bigger this year. And then
Speaker 1: well we did so the Apollo. We got a show
Speaker 1: in Houston coming up. Okay, Okay, it's just too much. Okay,
Speaker 1: now listen. I want to ask about stocks, Okay, because
Speaker 1: I was told like a very long time ago, and
Speaker 1: I have I have my own little portfolio with stocks.
Speaker 1: But what I was told was buy stocks that you
Speaker 1: have something to do with, like that have that are
Speaker 1: that you use right, that you use for instance, like
Speaker 1: Lulu Limon. Like of my athletic wear is Lulu Limit.
Speaker 1: So I have like the Lulu limit stock Apple stock
Speaker 1: because I got a phone, I got my stuff. So
Speaker 1: is that true? Like is that how you should handle
Speaker 1: purchasing stocks? Yeah? I think so for anybody that's beginning
Speaker 1: in the in the investment stage of of in stocks,
Speaker 1: you want to go from consumer to investor, right, and
Speaker 1: so you're already you are already a consumer. You bought
Speaker 1: all those products on the consumer side, but now you're
Speaker 1: on the ownership side. And so if you're already pouring
Speaker 1: money into a company and there's mill ends of people
Speaker 1: doing the same thing as you. Why not reap the
Speaker 1: benefits of your investment? Right, So, like I'm giving money
Speaker 1: to Apple every time my iPhone comes out, or every
Speaker 1: time a Matt book comes out of Lululemon puts out
Speaker 1: a new line, I'm always investing. I'm consuming it and
Speaker 1: I'm consuming it. Why not also have investment in it
Speaker 1: as well? So now your money is actually going towards
Speaker 1: your ownership. Okay, And then I was also told like
Speaker 1: just to leave it there, like, don't fool with it,
Speaker 1: just let it go. Yeah, But buying a hole, that's like,
Speaker 1: you know, the number one strategy for for investing, whether
Speaker 1: it's real estate stocks, don't you want to just buy
Speaker 1: a hole for a long period of time. If you
Speaker 1: have a good company like Apple or Microsoft, just buy
Speaker 1: and just hold it for as long. If something changes
Speaker 1: and you know you have to sell for whatever reason,
Speaker 1: then you know you can sell. But a lot of
Speaker 1: time people go into things and they sell too early,
Speaker 1: just like real estate, like you know, you might have
Speaker 1: had a Brownstone and where you guys from Maryland part
Speaker 1: PG County. No, oh, I'm sorry I said that too.
Speaker 1: I said it too loud, I said it told. I'm sorry.
Speaker 1: I'm from born and raised in Baltimore. I'm from like
Speaker 1: the DC area, which is p PG County No, no, no,
Speaker 1: Ptolemaic Montgomery County, Montgomery, Montgomery County. Okay, yeah, okay, full disclaimer.
Speaker 1: There's nothing wrong with the PG, nothing wrong with But
Speaker 1: I was about to give a real estate reference to
Speaker 1: New York. But I figure I'll do something like to marry.
Speaker 1: I used to actually go to school in Maryland, so
Speaker 1: I used to live in Maryland. But like, where'd you go? NBC? Okay, Um,
Speaker 1: I know you're a President's Dr REBELLI oh yeah, yea yeah,
Speaker 1: great man, and a bunch of my friends went to
Speaker 1: you and be a good guy. Um, so like take
Speaker 1: like the area there, John Hopkins, right, Like you know,
Speaker 1: it is getting gentified and real estate is going up.
Speaker 1: So it's like you could have had a property there,
Speaker 1: let's say ten years ago, and let's say you got
Speaker 1: it for fifty allars and you sold it for seventy
Speaker 1: five thousand, Like that's a twenty five tho allar profit.
Speaker 1: Most people be like, all right, that's a good deal.
Speaker 1: But what if that same property is worth eight hundred
Speaker 1: thousand dollars now right, like you would be kicking yourself,
Speaker 1: like I should have just held it instead of just
Speaker 1: trying to get like a twenty five thousand all profit.
Speaker 1: I could have got hundreds of thousand dollars of profit
Speaker 1: and then twenty years from now it might be worth
Speaker 1: three million dollars. So that's all over the country. So
Speaker 1: like people can understand that we're real estate because they
Speaker 1: see areas getting gentified, and they see real estate that
Speaker 1: was once worthless now million dollar properties. You see that
Speaker 1: in Chicago, you see that in New York, you see
Speaker 1: that in d c l A all over. So the
Speaker 1: same thing with stocks. A lot of times people are
Speaker 1: just happy with like short term gains, like okay, I
Speaker 1: doubled it, It's time to get out. But if it's
Speaker 1: a good quality company, you want to hold it for
Speaker 1: as long as possible because you could have like a
Speaker 1: thousand percent rate of return if you hold it for
Speaker 1: ten twenty years. Right, but give it. But right now,
Speaker 1: like the market, the stock market is going crazy, the
Speaker 1: crypto market is going crazy. I feel like people are
Speaker 1: panicking because I mean I do like little small trading
Speaker 1: on like each aid and stuff, like that, Like, or
Speaker 1: I have a coin based account, Like, how do you
Speaker 1: if you're someone that kind of just enjoys to see
Speaker 1: you know your gains? Um, how do you stay disciplined?
Speaker 1: Or should you just pull out and then get back in?
Speaker 1: Like I don't. I'm just so all over the place
Speaker 1: and there's so many conflicting reports and people say different things,
Speaker 1: and it's like people are panicking. I just don't know
Speaker 1: what to do at this point. Yeah, number one thing
Speaker 1: is don't panic, right, So, like we we always stressed
Speaker 1: the people. Never into a position unless you know your
Speaker 1: exit strategy, and so that might be a percentage, that
Speaker 1: might be a dollar amount. Wait a minute, wait, unless
Speaker 1: you know your exit strategy. That's like a dating rule,
Speaker 1: one on one. Unless you know how you're getting out
Speaker 1: of this thing, don't get in it. Okay, I'm sorry,
Speaker 1: go ahead, go ahead. Yeah. But like so that's the thing,
Speaker 1: Like you want to you want to get into a
Speaker 1: position in a company that makes sense for you, right, So,
Speaker 1: like when people see you right in the market, they
Speaker 1: automatically think fair. But if you're a new investor, if
Speaker 1: you're seasoned investor, you know that there's an opportunity for
Speaker 1: me to add to the positions I already have, or
Speaker 1: into a position that I always wanted to write. So
Speaker 1: if you look like a company like Apple in two thousand,
Speaker 1: they only had the iPod, right, But if you would
Speaker 1: have brought a thousand dollars in the past twenty two years,
Speaker 1: it's going up ten. Right. So you might have right
Speaker 1: when the market crash of two thousand and there, you
Speaker 1: might have been like, oh my gosh, like me and
Speaker 1: sold it right, or you could just been like, all right,
Speaker 1: well it went down, let me grab some more, and
Speaker 1: now you're just adding to the games that you have
Speaker 1: long term. So that's alwalways stressed UM buying and holding.
Speaker 1: And if there's a pull back like there is like
Speaker 1: a correction, which just means that the market or the
Speaker 1: actual sector itself has pulled back anywhere between six, there's
Speaker 1: always an opportunity to game more of ownership in that company.
Speaker 1: So never look at as a negative unless you're in
Speaker 1: a company that isn't strong UM and it's it's kind
Speaker 1: of like the balance sheets are all off, and you
Speaker 1: know they don't have a long history like companies like
Speaker 1: Microsoft Apple they've been around for forty years. Strong company
Speaker 1: acts like there's there's a plenty of companies that are
Speaker 1: out there that have been around and have been profitable
Speaker 1: for a long time. Sick with those Before we get
Speaker 1: into the weeds. Let's get into the flowers. Okay, So
Speaker 1: give me a fourth grade answer for this crypto bitcoin,
Speaker 1: Should we get in? Should we get should we not?
Speaker 1: I'm a I'm an old school girl. I'm all about
Speaker 1: the almighty dollar. Like, I don't know what to do.
Speaker 1: I don't know what's important. You know, two months ago
Speaker 1: everybody was like bitcoin bitcoin, Now it's all crypto crypto,
Speaker 1: like is crypto? Don't know? But also add you know
Speaker 1: what I want you to add like n f T
Speaker 1: s in the metaverse. Yeah, that's the stuff where I'm like,
Speaker 1: don't know that either. That's that's the way because someone
Speaker 1: asked me to do something and staid, um, oh, i'll
Speaker 1: pay you something, give you give you an n f T.
Speaker 1: I don't know what that also, I don't know. No
Speaker 1: pay me in dollars. Okay, So so don't give us
Speaker 1: big words, y'all. Just walk us through like we're second grades.
Speaker 1: Which one which one you want? First? N f conversation
Speaker 1: or the crypto conversation You've come to the right place
Speaker 1: you want to talk, all right, So I mean cryptocurrency.
Speaker 1: The word I always say the word currency is a
Speaker 1: little misleading when're talking about cryptocurrency because most of it
Speaker 1: is not really treated as a currency, like a currency
Speaker 1: usually has to be stable, whereas like if I give
Speaker 1: you a dollar today, it's still gonna be worth a
Speaker 1: dollar tomorrow. Right, That's how I can That's how I
Speaker 1: can pay for something like you can't value a haircut
Speaker 1: at twenty dollars, but then that same haircut is fifty
Speaker 1: dollars next week because the price of the dollar went
Speaker 1: from being worth one dollar to being worth twenty cents.
Speaker 1: So that that's the volatility and cryptocurrency where you see
Speaker 1: a couple of months ago bitcoin was sixty over sixty thousand.
Speaker 1: Now it's hovering around like in the thirty thousand range,
Speaker 1: like it's fifty lower. Imagine if the US dollar was
Speaker 1: fifty lower in value and only word fifty cents now,
Speaker 1: like that would be crazy. You really can't make transactions
Speaker 1: to do business with that. This is why but Big
Speaker 1: we'll talk about bigcoin because you asked about bitcoin. Bitcoin
Speaker 1: is more so of a store of value currency, its
Speaker 1: currency store value and store value different, so it's better
Speaker 1: comparison its goal. This is why people compare it to
Speaker 1: like digital goal, where it's like a lot of people
Speaker 1: just hoard gold. You get gold and you hoard it
Speaker 1: because it's like hedge for inflation. So gold has withstand
Speaker 1: it the test of time. It's always been valuable for
Speaker 1: a long period of time. People value goal. You can
Speaker 1: you know, trade gold, you can wear goal different things
Speaker 1: that agent. Gold has value that people place on it.
Speaker 1: So bitcoin conda is the same way where it's a
Speaker 1: limited amount, like there's gonna be a limited amount of
Speaker 1: bitcoins in a couple of years. It's not even gonna
Speaker 1: be any more bitcoins made, so it's a limited amount
Speaker 1: of bitcoins um. It has grown up in value because
Speaker 1: of the scarcity and because people are looking for different
Speaker 1: ways to actually park their money. Like we know that
Speaker 1: you know, fiat currency, which is the dollars that we
Speaker 1: actually use all across the world, actually gets devalue um
Speaker 1: every single day because of inflation. Right, so the value
Speaker 1: of milk is not the same as it was ten
Speaker 1: years ago. So the value of the dollar goes down
Speaker 1: each and every day, and it's not backed by anything
Speaker 1: except for you know, the faith that the people putting it.
Speaker 1: So now you have a digital asset on the blockchain,
Speaker 1: which we can talk about that with the n f
Speaker 1: T conversation. But you have a digital asset that people
Speaker 1: put belief in, because that's the value of anything, it's
Speaker 1: what people believe in, right, people put belief in it.
Speaker 1: It's a new way to actually move money at a
Speaker 1: much quicker pace because like, well they say, like the
Speaker 1: fastest way if I asked you right now the fastest
Speaker 1: way to get a million dollars from New York to London,
Speaker 1: what would you say? The fastest way to do that
Speaker 1: would be transfer? Well, the fastest way is to actually
Speaker 1: get on a plane with a million dollars and actually fly.
Speaker 1: But when the wire go through faster than the place,
Speaker 1: not most of the times, if you got a bank's
Speaker 1: gonna take at least a couple of days for the
Speaker 1: I'm millions for a million dollars to clear. So that's true,
Speaker 1: that's true in this day and age in two. That's
Speaker 1: crazy that you know, you can't move that kind of
Speaker 1: money in a short period of time where it's like
Speaker 1: on the blockchain with cryptocurrency, you can do that in
Speaker 1: seconds depending on which coin you use. Okay, okay, but
Speaker 1: let me ask you this now, is this a way
Speaker 1: because I watched this uh this show on on the
Speaker 1: Netflix that the drug deal is like had the money? Yeah,
Speaker 1: so so that that that was a way, right that
Speaker 1: and that that's kind of like one of the downfalls
Speaker 1: for it, right, you have you have coins that people
Speaker 1: can you can't track, right, so like if I make
Speaker 1: a transaction, the only thing that can say that this
Speaker 1: happened is the block train, right, so it's a transaction record,
Speaker 1: but you never know who did it. And so it
Speaker 1: was a lot of a lot of times in the
Speaker 1: past and hopefully it doesn't happen going forward in the futures,
Speaker 1: that people would smuggle money and use it through the currency.
Speaker 1: So like there was a bunch of coins um that
Speaker 1: would being used at the time, and they've coining folding
Speaker 1: back in value. And that's why when you when you
Speaker 1: hear decentralized, decentralized meaning that there's no government or agency
Speaker 1: back in it. That's kind of what they're saying, like,
Speaker 1: we need to have regulation because if if you can
Speaker 1: laund the money through this quote unquote currency, it could
Speaker 1: be a dangerous tool if it's putting the wrong hands.
Speaker 1: So but yeah, so just to finish up crypto. The
Speaker 1: benefits of it is that it's a way, it's a
Speaker 1: it's a currency that it doesn't matter if you're in Russia,
Speaker 1: if you're in Yugoslavia, if you're in Puerto Rico, if
Speaker 1: you're in New York, it's the same, right, so you
Speaker 1: don't have to change. And you go to different currency,
Speaker 1: and you go to different countries, you gotta change the currency.
Speaker 1: The speed moves a lot quicker. It's an alternative to
Speaker 1: paper dollar, and um, it's a store of value where
Speaker 1: it could serve as like a digital goal where now
Speaker 1: it's it's a place where people can actually park money
Speaker 1: and have the asset grow over the course of time.
Speaker 1: And they also you think about other countries, and he
Speaker 1: brought up a bunch of them, but how many of
Speaker 1: these countries are have errors that they're on banks? Right,
Speaker 1: where's the where's where is the next bank? Or is
Speaker 1: there a bank even in my city? Right? And so
Speaker 1: now when you have a digital quote unquote currency, you
Speaker 1: have it in the palm of your hand or you
Speaker 1: have it in front of your laptop, which makes it
Speaker 1: completely different. Now you have access to something without even
Speaker 1: having to go to a traditional uh thanking. So are
Speaker 1: you recommending that people invest in this UM? Well, hey,
Speaker 1: you should be knowledgeable before you invest in anything because
Speaker 1: you know, well, what's good for one person might not
Speaker 1: be good for another thing. So I think, ay, you should.
Speaker 1: You should just be up to date on what's going on.
Speaker 1: But I will say this UM is here to stay. Cryptocurrency.
Speaker 1: I think it's here to stay. Big Corner think it's
Speaker 1: here to stay. And UM it's only gonna become more
Speaker 1: and more prevalent. So for with that, with that information,
Speaker 1: you can kind of you know, make an educated decision
Speaker 1: whether you want to invest or not. But that would
Speaker 1: be like you know what I think is going to happen.
Speaker 1: I would start with education before anything, any investment, real estate,
Speaker 1: crypto stocks. Educate yourself first, right, and especially in crypto
Speaker 1: because like I said, right now, how do we regulate it? Right?
Speaker 1: Like if I lose money, who do I call? If
Speaker 1: this transaction doesn't go through? Who do I? There isn't anybody, right,
Speaker 1: and so like that's why the education process and the
Speaker 1: learner code is very quickly because if you just jump
Speaker 1: into this space of UM investing right, you could get
Speaker 1: lost very quickly, and your money could get lost very
Speaker 1: quickly and you'll never find it. So educate yourself before
Speaker 1: before anything. So are you comfortable giving UM suggestions to
Speaker 1: people on UM crypto platforms to use and specific crypto
Speaker 1: to buy bitcoin, etherory and whatever it is? I mean
Speaker 1: you want to you want to stay with the top
Speaker 1: tier cryptos. That's always the safest. Same thing with the
Speaker 1: stock markets. So when you look at like the top
Speaker 1: tier cryptos that already have you know, strong UM backing,
Speaker 1: institutional backing, and use cases. You're looking at ethereal if
Speaker 1: you're looking at Bitcoin, you're looking at Cardonna, looking at
Speaker 1: stellar Um. Slana is a new one, but Silana, you're
Speaker 1: talking about the n f T conversation that those hand
Speaker 1: in hand with a lot of the n f T s.
Speaker 1: So those are some of like the top tier cryptocurrencies
Speaker 1: UM that you know if you are interested, and that's
Speaker 1: probably more than safe for play as opposed to going
Speaker 1: down the line and get in some something that you know,
Speaker 1: people have not have heard of, because that's what people
Speaker 1: do to try to earn more money is take more risk.
Speaker 1: But what more risk could come? Re war? But it
Speaker 1: can also come with the possibility of it just vanishing
Speaker 1: away also, so like that that would be your dog
Speaker 1: going out to be coining where people are just saying, like,
Speaker 1: let's just hit this home run. It's less than eight sense,
Speaker 1: we can buy a bunch of it. But what happens
Speaker 1: when it goes to zero sense or lesson zero? Then
Speaker 1: you ask out yeah, And I always I always get
Speaker 1: in late, like when something you know, you hear about
Speaker 1: something popping off, and I'm like, oh, I'm gonna get in,
Speaker 1: and then I get in. Its over. I'm like, let
Speaker 1: me just stop, Okay, But but I do want to say, like,
Speaker 1: just you, I think we can tell that crypto is
Speaker 1: here to stay when now we have sports arenas being
Speaker 1: named after you know, crypto platforms. We got clip Crypto
Speaker 1: dot Com arena, right, and there's a coin base is
Speaker 1: it a coin base? One of them was on a
Speaker 1: coin base I saw on a court I can't remember
Speaker 1: what team it was. And then Crypto dot Com Arena
Speaker 1: that's where the Lakers are playing, right formerly Distable Santa Yea. Yeah,
Speaker 1: Like that's that's insane that we had to say. So
Speaker 1: so I want to get into the metaverse and n
Speaker 1: f t S. But but before we do that, I
Speaker 1: want to I don't want to forget to ask you
Speaker 1: about any stock picks that you might feel comfortable recommending
Speaker 1: for for someone that's like looking to invest, you know,
Speaker 1: get into the market, where should they park their money.
Speaker 1: I think you have the strategy correct when you said,
Speaker 1: look at what you're spending your money now, and so like,
Speaker 1: if I'm spending my money on Apple products, I probably
Speaker 1: should be invested in that, right. If I'm ordering during
Speaker 1: the pandemic, right, most people were ordering where you're ordering
Speaker 1: anything from probably Amazon, that would probably be a good
Speaker 1: idea to invest in UM. So you can invest in
Speaker 1: these individual stocks, but you could also invest in a
Speaker 1: group of stocks like indexes or et f s, where
Speaker 1: it it's like an all star team of stocks. Right,
Speaker 1: and always use the comparison and shout to our brother
Speaker 1: Ian down Lap. Right, if you think of of E
Speaker 1: T F S as an all star team, and you
Speaker 1: think of like a player like Lebron James is probably
Speaker 1: the best player in the league, right, Like, you can
Speaker 1: intervention invest in him individually, but if he gets hurt,
Speaker 1: then your investment might hurt. Right. But if you invest
Speaker 1: in an e t F that has Lebron in it. Now,
Speaker 1: now break it down. What is TEA? You're using big
Speaker 1: words here. You're using big words to break it down,
Speaker 1: I said second grader. Okay, and I want to say
Speaker 1: I I invested in the et F based off of
Speaker 1: one of your podcast The Vanguard's traded e t F,
Speaker 1: so it goes by sectors. So E t s are
Speaker 1: broken down into sectors. And so there's a different type
Speaker 1: of companies. So you have technology companies, you have financial companies,
Speaker 1: you have industrial companies, you have healthcare companies. And so
Speaker 1: let's say Lebron is Apple, right, the greatest company, the
Speaker 1: greatest player. He Apple is a tech company, and so
Speaker 1: we'll be inside the e t F like XLK it
Speaker 1: would be et F. But you also have other companies
Speaker 1: inside their Microsoft is inside there, in video, which is
Speaker 1: a chip company. A m D is a chip they're
Speaker 1: inside it. Uh m D is not inside there, but
Speaker 1: they're inside of this tech company. Right. So if Lebron
Speaker 1: doesn't perform, well, you still have uh Anthony Davis on
Speaker 1: your team, right, you still have Steph Curry on ther team,
Speaker 1: so he doesn't really have to give you twenty seven
Speaker 1: points a game, he can give you fifteen points and
Speaker 1: you can still win. Whereas if he's invested individually, if
Speaker 1: he gets hurt and he eats the average of seven, right,
Speaker 1: then individually just much more exposure on the downside, that's
Speaker 1: something happens to him, not to say that something would
Speaker 1: happen to Apple, but we'd like to tell people like
Speaker 1: invest in solid companies and they're invest in indexes and
Speaker 1: e t s just so you don't have as musk
Speaker 1: exposure on the downside. Right because on a day like
Speaker 1: two weeks ago, when when Apple pulls back on Microsoft
Speaker 1: pulls back, now that exposure to that company brings you down,
Speaker 1: Whereas if you're in the E T F to pull
Speaker 1: back would be not a severe because the percentage of
Speaker 1: how much is invested in that company isn't as high.
Speaker 1: It's like a it's almost like playing like fantasy football
Speaker 1: or something, right, like everybody you gotta see where everyone
Speaker 1: on the team is doing, and the better each individual
Speaker 1: player is doing, the better eat exactly like you're gonna
Speaker 1: you're gonna pick a team with strong players and so
Speaker 1: the same thing. Yeah, okay, switching gears just a little bit.
Speaker 1: I know, we we were skipping over the NSF stuff.
Speaker 1: We're gonna come back. I want to come back to it.
Speaker 1: But I have a have a question because you know,
Speaker 1: Robin and I are entrepreneurs, and you know, we always
Speaker 1: want to encourage especially black women to get out there
Speaker 1: and invest in yourself and and definitely like strive for
Speaker 1: your dreams. But you need money to do that. So
Speaker 1: what is the best way to like raise capital for
Speaker 1: your business, especially if you're a startup you know you're
Speaker 1: new to just this entrepreneurial game. I mean, there's a
Speaker 1: few different ways you can't go about raising capital. You can,
Speaker 1: you know, raise capital from friends and family. Um, you
Speaker 1: can you know, leverage your credit, you can take loans
Speaker 1: from your full o one K. Everybody's situation is different.
Speaker 1: What we did personally was we just started a business
Speaker 1: that had low um startup costs, which is a podcast
Speaker 1: doesn't mean you take a lot of money to start
Speaker 1: a podcast, and we used our personal money. UM. You know,
Speaker 1: I wish I could have had more of an elaborate
Speaker 1: story to tell, but it really wasn't. Um. We just
Speaker 1: we staved up. We have money that we have from
Speaker 1: you know, working our respective careers, and we were still
Speaker 1: working while we were being entrepreneur. That's a nothing to people.
Speaker 1: You don't necessarily have to do one or the other,
Speaker 1: Like you know, you can actually still do both at
Speaker 1: the same time. If you have a nine a five job,
Speaker 1: you can keep that not a five job and still
Speaker 1: be an entrepreneur when you get home. And then eventually
Speaker 1: as your business takes off and now it's time to
Speaker 1: leave your nine the five, then you know it's time
Speaker 1: to leave. But in the meantime, use the money from
Speaker 1: your note a five job or whatever kind of job
Speaker 1: you have to help fund your business. So like your
Speaker 1: job is really it's the investor is the angel investing
Speaker 1: in business in that in that situation. Other than that,
Speaker 1: I mean, of course, you can try to get bank financing.
Speaker 1: That's gonna be extremely difficult, almost impossible, especially if you're
Speaker 1: just starting out, your black entrepreneur. It's gonna be extremely
Speaker 1: difficult to get money from a bank. So, like I said,
Speaker 1: I mean, most of the time for entrepreneurs, if you're
Speaker 1: just starting now, you're gonna have to either use your
Speaker 1: own personal money, which is money that you saved up
Speaker 1: um or you know, money from like retirement accounts, money
Speaker 1: from friends and family. You can, you know, take money
Speaker 1: from your house. I'm gonna have to stop you. I'm
Speaker 1: gonna have to stop you right there. The friends and family,
Speaker 1: that's like sure far away to cause a ruckets at Thanksgiving,
Speaker 1: Like no, okay, there's no no friends and family. But
Speaker 1: definitely I believe in investing in yourself saving money and
Speaker 1: because there's there's nobody that's gonna support you or like
Speaker 1: root for you more than yourself. Right so I'm definitely
Speaker 1: down with that. Friends and family, I say, no, I'm sorry.
Speaker 1: It depends. I mean, if someone comes to me, I
Speaker 1: would say more family than friends. If they come to
Speaker 1: me they have a solid plan, then I'm not. I'm
Speaker 1: I don't. I'm not going to shy away from helping
Speaker 1: them out if I really believe in it, if I
Speaker 1: see they have a plan, if you know, but not
Speaker 1: someone just says I'm struggling. Can I get some money?
Speaker 1: Like no, I want to know if how is this
Speaker 1: money going to put you in a better place permanently,
Speaker 1: Like I don't want to just give you money just
Speaker 1: to pay your bill and that's it now, Okay, do
Speaker 1: you all loan money? That's a good question. Do you
Speaker 1: all loan money to people because I have a firm
Speaker 1: stance because I didn't get burnt a couple of times. Yeah, no,
Speaker 1: I ain't loaning nothing so loan would would would imply
Speaker 1: that the money is gonna be paid back? Right, yes,
Speaker 1: but we all know it's not. Okay, I I haven't.
Speaker 1: I haven't um with the intent of expecting it to
Speaker 1: come back. But I have UM given money UM with
Speaker 1: the intent of helping out a situation. Okay, I like that. Okay, now'
Speaker 1: gonna let you get back to the well wait, well
Speaker 1: now that right, so wait, now we're going to get
Speaker 1: back to the metaverse. And I but now that you
Speaker 1: talked about business, I want to piggyback on that conversation.
Speaker 1: I hear from a lot of people who, you know,
Speaker 1: they they're working at nine to five and they really
Speaker 1: want to be entrepreneurs. They really want to create multiple
Speaker 1: streams of income and they don't know where to start.
Speaker 1: And you know, my advice to them is, Okay, what
Speaker 1: are you interested in? What can you, you know, find
Speaker 1: to monetize something that you're interested in. But for people
Speaker 1: who really don't think they have some sort of tangible
Speaker 1: item to sell, what avenue would you say for like
Speaker 1: people should look into too, maybe become entrepreneurs, Like I
Speaker 1: know there's so many things, like especially with the vending machines,
Speaker 1: like how like how is that that going for you guys?
Speaker 1: I'll just start with with education because I've had this
Speaker 1: conversation with a none of my colleagues who don't think
Speaker 1: they could be entrepreneurs, And I'm like, the first thing
Speaker 1: you have to do was what's your purpose? Right? And
Speaker 1: that thing was like to help people. I'm like, well,
Speaker 1: you have a skill set that somebody else doesn't have.
Speaker 1: You have a skill set that I don't have. Ill
Speaker 1: use a young lady for example, she um her son
Speaker 1: UH is hearing imperient and she's advocated for for the
Speaker 1: past three years, and I told him, like, look, your
Speaker 1: level of advocacy, everybody doesn't know how to do that.
Speaker 1: You should probably write a book on this, right, And
Speaker 1: her mind was like, wait, I can't do that, And
Speaker 1: I'm like, yeah, you could, Like you're fighting for this
Speaker 1: every single day. So the first thing I would say
Speaker 1: is look right in front of you, you're you probably
Speaker 1: possess a skill and a purpose that the other person doesn't. Write.
Speaker 1: Another one of my colleagues, she was like, I don't know,
Speaker 1: I need to create more income. I'm like, well, you're
Speaker 1: a great teacher, why don't you create a tutoring service? Right,
Speaker 1: you can do that after school. Like that's not gonna
Speaker 1: coase you anything. And you're doing what you naturally do.
Speaker 1: You're you're great at You're a teacher. So the problem
Speaker 1: is that people will use like hey, I don't have
Speaker 1: the time for it, when I'm like, well, either you're
Speaker 1: gonna dedicate the time to doing that or you're gonna
Speaker 1: dedicate the next twenty five years to doing this. Right,
Speaker 1: you drop a knowledge, It's just what you have to choose. Right.
Speaker 1: But everybody, I believe that everybody has a purpose. They
Speaker 1: just have been tapped into it, right, or they're overlooking it.
Speaker 1: A lot of times, it's like it's right in front
Speaker 1: of you. Right. So like people ask me now, like hey, Troy,
Speaker 1: how's it feel not to teach anymore? And I'm like, well,
Speaker 1: I'm teaching every day. You still teaching? Yeah, you're you're
Speaker 1: teaching big time. Yeah, I didn't learn about four things today.
Speaker 1: I didn't learn about four things. You can talk right, right, No,
Speaker 1: but you are teaching a lot because, like I said,
Speaker 1: I learned about I. Um, you know, I learned about
Speaker 1: stocks from you guys. I also learned about things to
Speaker 1: do for my children. One of which, um, I believe
Speaker 1: I learned from you guys was, you know, make them
Speaker 1: your employee. I have a business. So now I've set
Speaker 1: both of my kids up as employees. I pay them,
Speaker 1: you know, just under the threshold so that they're not taxed.
Speaker 1: And you know, it's a tax start off for me.
Speaker 1: They're building, you know, they're they're they're building a little
Speaker 1: nest egg. Um. What I know a lot of people
Speaker 1: want to create generational wealth for their kids. They want
Speaker 1: to set their kids up for success. So what is
Speaker 1: the best advice that you can give to parents to
Speaker 1: help them, um, set their kids up for financial success? Um,
Speaker 1: just start early, start early. Opening an investment account for them.
Speaker 1: You can open up a UTMA and that's like a
Speaker 1: a brokerage account and investment account, but for kids. And
Speaker 1: uh wait minute, what's that called again? An art month?
Speaker 1: U t ut M A U t M. Do you
Speaker 1: all have kids? Yeah? I have, I have a son.
Speaker 1: Okay U t M A Okay, I'm sorry, go ahead. So, um,
Speaker 1: that's an investment account that you are like pretty much
Speaker 1: the owner that you stole here and you can put
Speaker 1: money in. You can invest in Apple, you can invest
Speaker 1: in E, T, F and H. They don't gain access
Speaker 1: to that until they turn eighteen to the to the
Speaker 1: an adult, but you know that allows money to grow
Speaker 1: into an account. So that's that's one real easy way
Speaker 1: that you can do. Or you can do any online
Speaker 1: account like t D and marriage trade. You can do
Speaker 1: marrow Lynch, any any like online brokerage account. You can
Speaker 1: go in there, take a couple of minutes into the information,
Speaker 1: and then you have the account. You can start investing
Speaker 1: money in UM. You can have a five twenty nine plan,
Speaker 1: which that allows you to put money away for the education.
Speaker 1: So that's the way that you know, parents want to
Speaker 1: save for college, or you want to save for prep
Speaker 1: school or whatever, not just higher education, any form of
Speaker 1: education you can UM saving. The good thing with the
Speaker 1: plans is that the money is tax free as long
Speaker 1: as you're using for education, and depending on what states
Speaker 1: you live in, if you invest in the states file
Speaker 1: twenty nine planning, you get a state tax deduction for
Speaker 1: the amount of money that you put in, so that's
Speaker 1: beneficial as well. So those are two easy ways where
Speaker 1: you can actually go about to start to build some
Speaker 1: some assets, some wealth for your for your your child
Speaker 1: down the line. I think what you're doing now is great, right,
Speaker 1: like paying them as employees of your business. Right if
Speaker 1: you if your child is seven years old, can you
Speaker 1: imagine if you paid them ten thousand dollars a year
Speaker 1: to their sevent team, right, you're talking about you, they're
Speaker 1: already six figures by the time the eight team. And
Speaker 1: if you invest in a custodio account. That's why we
Speaker 1: we'd like to talk about starting early, right, So right
Speaker 1: now our kids are playing roadblocks and then using their iPads,
Speaker 1: and so these are companies that were investing in and
Speaker 1: put it inside their studio accounts. Now, when we talk
Speaker 1: about whole long term, that's not even enough vision and
Speaker 1: like long term, like I'm seventeen, they're still young, right,
Speaker 1: but that's ten years of equity that they've grown inside
Speaker 1: those companies. And so that's another way. Just look at
Speaker 1: what they're doing now right where they're invest in their time.
Speaker 1: And because kids will tell you what's trending and what's hot, right,
Speaker 1: they'll let you know, Right, that's so true. But you
Speaker 1: know what, so so my father had an UPMA for me,
Speaker 1: and of course once I turned like eighteen and I
Speaker 1: was had access to it, I blew right through it.
Speaker 1: So good. Yeah, So so so the hard part is, yeah,
Speaker 1: we're gonna say for our kids, but we also have
Speaker 1: to teach them and create discipline for them so that
Speaker 1: they don't blow through that money and so that they
Speaker 1: you know, maybe continue to invest it. But that definitely
Speaker 1: happened to me. Like me and my brother, we blew
Speaker 1: through our So this is what not to do. But
Speaker 1: that's why we we we And I've been saying this recently,
Speaker 1: it was like we the term generational wealth is cool,
Speaker 1: but generation generation that could be blown not to saying
Speaker 1: that that's what happened to you, but the term really
Speaker 1: should be sustainable wealth, right, so as they're growing and
Speaker 1: how do they sustain it so that they can't mess
Speaker 1: this up? Right, Like, there's no way we're gonna put
Speaker 1: the if this was bowling, we're putting the bumpers up
Speaker 1: so that we we we've generated the wealth right this generation,
Speaker 1: and we're gonna teach them how to sustain it so
Speaker 1: that their kids and their grandkids will always have this wealth. Right,
Speaker 1: Because if we teach generation. There's no way I gave
Speaker 1: the example. My dad worked for forty two years. My
Speaker 1: son is eight years old. Since he's been alive, he's
Speaker 1: only seen my dad's on the couch. He's never seen
Speaker 1: the hard work that he had to put in. He's
Speaker 1: never seen those things. And so like, yeah, I can
Speaker 1: teach them and you can watch me, but the more
Speaker 1: important thing is how to sustain this long term. Okay,
Speaker 1: I still want to talk about the metaverse, but so
Speaker 1: that's gonna We're gonna close out with the metaverse. But
Speaker 1: before we before we let y'all go, are there any
Speaker 1: particular episodes that you would tell our listeners who are
Speaker 1: new to you, guys who want to learn about, you know,
Speaker 1: investing in business, Like, do you have episodes that you're like,
Speaker 1: this is the one, go listen to this one, and
Speaker 1: then they'll be hooked and then they'll start listening to
Speaker 1: much some more. UM. I think episode forty four with
Speaker 1: On Wall Street trap, but that was a good introduction
Speaker 1: to stocks. If anybody's interested in stocks, that's something that
Speaker 1: you can listen to and learn about the stock market. UM.
Speaker 1: Episode eleven, which is probably one of my favorite episodes
Speaker 1: that was a restaurant owner from Baltimore actually, and uh,
Speaker 1: he actually gave a complete blueprint of like the ins
Speaker 1: and outs of his industry. So not just for people
Speaker 1: that's interested in running a restaurant, but anybody that's interested
Speaker 1: in business period. That's a very very detailed, transparent episode.
Speaker 1: So those are two episodes that I would I would
Speaker 1: put I love that you know the number. I mean overy, Wait,
Speaker 1: we don't know the none none of our episode. Hold
Speaker 1: your thought, Troy, because I want you to tell us
Speaker 1: your episodes. How do you all know how many episodes
Speaker 1: do you have? And how do you know those are
Speaker 1: memorable episode me? So I kind of you know that's
Speaker 1: that's awesome. I'm I'm listening to them all right, what
Speaker 1: you guys? So we got the first answers. We got
Speaker 1: a hundred and sixty nine episodes. Leisure Number eleven is
Speaker 1: probably my favorite as well. And number twelve, where we
Speaker 1: actually talk about real estate with our brother merg the
Speaker 1: mortgage Guy, is a very prowerful episode. Kind of changed
Speaker 1: my mindset. We recorded it in my house and when
Speaker 1: he was talking about strategies and how to invest in
Speaker 1: real estate, I'm thinking to myself, like damn, I wish
Speaker 1: I would have known this three years prior, so that
Speaker 1: was one of them. And then episode seventy well with
Speaker 1: our brother Ian Dunlap, who's our partner our market Mondays,
Speaker 1: is another one of those investment episodes that just kind
Speaker 1: of like shook the world up a little bit. So
Speaker 1: those two are incredible, But there's a lot. There's a
Speaker 1: bunch of them. We have an Airbnb episode, we have
Speaker 1: the Vendom Machine episode, obviously the truck and the episode
Speaker 1: that we did change the game. So there's a bunch
Speaker 1: of them. There's a lot. Okay, Okay, So I love him,
Speaker 1: I love awesome. All Right, we're gonna let you'all go,
Speaker 1: but we're gonna talk about these n f T s
Speaker 1: and the metaverse and what does all that mean? And
Speaker 1: should I do? Should I? Should I sell a picture
Speaker 1: of myself out for some money? Like that's only that's
Speaker 1: only fans, that's only fans. That ain't that we're not
Speaker 1: doing only fans. We're not doing that, right because that's naked.
Speaker 1: You get naked. You can show people your feet and stuff. Yeah,
Speaker 1: don't nobody want to see my toes because my toes
Speaker 1: are kissable. But Anyway, let's move on. So n f
Speaker 1: t s you want to know what they are? Yeah,
Speaker 1: Like I just keep this, I just keep hearing n
Speaker 1: f t S metaverse. It's just you know, like people
Speaker 1: selling pictures and and I don't know, like old stuff
Speaker 1: and getting making a million. Oh I saw some of
Speaker 1: my thirteen year old girl made a million dollars off
Speaker 1: at n f t s. Like what what is this? Yeah,
Speaker 1: n f t s are non fungible token show its
Speaker 1: song when you think of something that's replaceable, that's fungible. So,
Speaker 1: like Charlotte said about the nineteen Keys, he gave a
Speaker 1: really good example that all you so a dollar, a
Speaker 1: dollar is fungible. Rights, It's like if you have if
Speaker 1: you have a dollar bill and you lose it and
Speaker 1: then I give you another dollar bill, it's not a
Speaker 1: big deal. You don't really care, right, But like, let's
Speaker 1: say that if Beyonce autographed a dollar bill, right, you
Speaker 1: lose it and then I give you another dollar bill.
Speaker 1: And that's not the same, you know what I'm saying,
Speaker 1: Because now now that autograph Beyonce, that's non fungible. You
Speaker 1: can't really replace that. So now what it is is
Speaker 1: it's the same thing with art. So like if Bosciott
Speaker 1: does a painting, right and he's no longer here, there's
Speaker 1: no way to really replicate that unless you just have forgery.
Speaker 1: There's only one of those paintings, which is why they's
Speaker 1: so valuable. Right. So now with n f T, it's
Speaker 1: the same idea, the same concept, but it's on the blockchain,
Speaker 1: which is why art was like the first adoption to
Speaker 1: the n f T world if you think about it,
Speaker 1: because that that makes complete sense, where it's like you
Speaker 1: have artists that draw something and it's only one of
Speaker 1: one of those, so it would be the same thing
Speaker 1: in the digital world. So now they came up with
Speaker 1: like digital art where it's like apes and um monkeys
Speaker 1: and lions and all these different things. Right, So that's
Speaker 1: one way to think about it, where it's like kind
Speaker 1: of like a digital art form that can't be replicated,
Speaker 1: can't lee, can't be duplicated, and the proof of it
Speaker 1: is on the blockchain, which to say, okay, this is
Speaker 1: number one of one. You are the owner, nobody else
Speaker 1: has it, you have all the rights to it. That's it.
Speaker 1: It's not arguable. You can't argue it, can't do anything
Speaker 1: with it, but there's other rail world you use cases
Speaker 1: to it as well. So like Nike, it is planning
Speaker 1: on releasing n f T s with every sneaker, so
Speaker 1: now it's like the counterfeit sneaker market is huge. So
Speaker 1: now you don't have to worry about buying fake Jordan's
Speaker 1: because you know you can identify that this is a
Speaker 1: authentic Nike shoe because of the n f T that's
Speaker 1: attached to it. So yeah. So or even like NAS
Speaker 1: who just released two songs UM via n f T
Speaker 1: holders have UM, they actually have rights to the song,
Speaker 1: so now they get publishing rights every time the song
Speaker 1: gets sold. So now they're actually owners of his catalog,
Speaker 1: like part of his catalog, the actually owners of it.
Speaker 1: So that's an interesting way to go about it as well,
Speaker 1: where now you can actually, like a business or influencer
Speaker 1: or a musician can actually offer their fans, their supporters
Speaker 1: ownership and their music or ownership and their product ownership
Speaker 1: in their company by n f T s and it's
Speaker 1: like if you own this, it's like a stock certificate,
Speaker 1: Like if you own this n f T, you're guaranteed
Speaker 1: to two percent of the portions forever and a good
Speaker 1: thing too, is that it lasts forever, lasting perpetuity, and
Speaker 1: every time it gets resold that the original person um
Speaker 1: gets a percentage. So you set a commission. So if
Speaker 1: it's like, let's say you set a temperacent commission on
Speaker 1: it and it's a digital artwork. Now you sell it
Speaker 1: for a thousand dollars, and then somebody else sells it
Speaker 1: for ten thousand dollars. Now when they sold it for
Speaker 1: ten thousand, you get a thousand because you have a
Speaker 1: ten percent commission on it. So it's like, imagine if Boscot,
Speaker 1: if he like, his latest painting sold for like a
Speaker 1: hundred million dollars a couple of years ago. But I
Speaker 1: think the most he ever received for a painting while
Speaker 1: he was alive was like less than a hundred thousand.
Speaker 1: So imagine that his family, if it was an n
Speaker 1: f T, his family actually had that royalty. And now
Speaker 1: let's say it was ten percent. So now when he
Speaker 1: got sold last year, two years ago for a hundred million,
Speaker 1: his family would have got ten million dollars as opposed
Speaker 1: to his family in anything from the hundred million. If
Speaker 1: it gets sold again for three hundred million, he his
Speaker 1: family doesn't get anything from that. So, you know, the
Speaker 1: n f T conversation, I'll let you talk about the metaverse,
Speaker 1: but the NFT conversation is something that is extremely interesting
Speaker 1: because it carries a lot of different verticals. A lot
Speaker 1: of people are just focusing on one area, which is
Speaker 1: the art, and they don't understand it. And it's like, yeah,
Speaker 1: why is an ape selling for three hundred thousand dollars?
Speaker 1: Why is a picture of a banana? And sellings? But
Speaker 1: that's that's only one part of it. Um. It has
Speaker 1: a lot of different use cases and I think that
Speaker 1: that's gonna be interesting to see, like you know, it
Speaker 1: play out more and more in the future. So where
Speaker 1: do you go to like learn more or to purchase?
Speaker 1: You know, if I wanted to purchase ape, where do
Speaker 1: I go? If I wanted to sell them the picture
Speaker 1: of me? Like, like, I don't know where you wanted
Speaker 1: to sell your own ed you'd have to go through
Speaker 1: what's called a minting process, um, and it there's a
Speaker 1: there's a few places you can do that. The space
Speaker 1: is so new, it's almost like when when the Internet
Speaker 1: was around, when everybody was like trying to find their
Speaker 1: dot com. That's that's what we're going through right now,
Speaker 1: and so like that n f T pieces really important,
Speaker 1: but like sites like open sea dot io is a
Speaker 1: place you can like do some research and search the artwork. Right,
Speaker 1: So like when we're talking about board apes, so we're
Speaker 1: talking about women of color, we're talking about crypto punks.
Speaker 1: You can see actually those actual pieces and you can
Speaker 1: bid on them. Right, It's the same thing like you
Speaker 1: would been on a piece of art. UM. This has
Speaker 1: just done in the digital currencies. So Ethereum is the
Speaker 1: platform that all these are built on right now. UM
Speaker 1: and Solano is another one where that they're actually gaining
Speaker 1: some ground UM. So that's why it's important to educate yourself,
Speaker 1: right because if you you press the wrong button or
Speaker 1: you send them wrong code and you're trying to buy
Speaker 1: a piece of art or an n f t um,
Speaker 1: you could lose it if you don't do the right thing.
Speaker 1: So that's important to UM. And then the metaverses is
Speaker 1: it's interesting, right, I felt like we've been prepared for
Speaker 1: this our whole lives, right, We're actually we're we're the
Speaker 1: ones who like we're champion in our whole lives. If
Speaker 1: we play video games in the eighties and the nineties.
Speaker 1: Definitely two thousands you play Grant the Photo or call
Speaker 1: it Duty or any of those game roadblocks too. SIMS.
Speaker 1: I mean like the SIMS was like this virtual world
Speaker 1: where you have characters. The only difference now is that
Speaker 1: you are the character inside these spaces and the real
Speaker 1: actual companies inside. And so the metaverse is like a
Speaker 1: virtual world. And I know it's kind of crazy because
Speaker 1: Facebook is now meta um, and so when you think matter,
Speaker 1: you think Facebook. But there's there's there's a bunch of worlds.
Speaker 1: You've got to think of it like a galaxy of places, um.
Speaker 1: And so where people are going to, uh, we'll determine
Speaker 1: the value of the land that's there. So I know,
Speaker 1: like Snoop has, everybody keeps talking about Snoops in the metaverse,
Speaker 1: and everybody wants to buy property around him. And what
Speaker 1: that does is when he buys property right and people
Speaker 1: want to live in, it drives up the value of
Speaker 1: the actual property inside the space. So people are like, well,
Speaker 1: why would I have a digital virtual world? Well, number one,
Speaker 1: people are there right this is the way right now,
Speaker 1: and number two, there's plenty of use cases for it.
Speaker 1: So right now, like his neighbor, right if they decided that, hey,
Speaker 1: I'm gonna have an art gallery on the bottom floor
Speaker 1: of my house, right, the people who leave Snoop's house
Speaker 1: will probably venture over to his next door neighbor, right,
Speaker 1: and then they'll see artwork that is hanging, and they
Speaker 1: can bid on that artwork. Right on the second floor
Speaker 1: of the house. They maybe decide that they're gonna have
Speaker 1: a virtual party up there, right, and they might charge
Speaker 1: people ninety nine cents to be in that party. Right,
Speaker 1: So rather than having everybody, you can charging. Now you're
Speaker 1: not sense or now you're not whatever the equivalent is
Speaker 1: in East, and now you can actually make money for
Speaker 1: your virtual space. Is this through Facebook or no? Is
Speaker 1: this through Facebook or not? It doesn't have to be.
Speaker 1: It doesn't have to be. They're still working on that place.
Speaker 1: Like the Central Land is a place that a lot
Speaker 1: of people who used probably the most popular we actually
Speaker 1: went into the Central Land. Central Land. Yeah, that's probably
Speaker 1: this is Is this just for young people? I mean no,
Speaker 1: my kids. My kids are all into the same. So
Speaker 1: I'm there to be like multimillionaires about five minutes, okay,
Speaker 1: because they're about to get into this. Imagine if reasonably
Speaker 1: shady did a live show, right, and you had six
Speaker 1: which we're doing by the way you're working towards. And
Speaker 1: then we have an audience of five hundred people right now.
Speaker 1: Imagine that's five hundred ticket buyers and they can consume it.
Speaker 1: But what if you did it in a virtual space,
Speaker 1: and now there is no limit, right, you can have
Speaker 1: five thousand people in there. And if you played the
Speaker 1: SAME's if you played any of these games, Roadblocks, Fortnite.
Speaker 1: People want to separate themselves the way they look, and
Speaker 1: so now you have now you have a space where
Speaker 1: you see Polo entering the metaverse, right, you see Gucci
Speaker 1: entering the metaverse. Why because I want to have something
Speaker 1: that's unique. I want to look different from that person,
Speaker 1: and we all don't want to look the same. And
Speaker 1: so now you see, like, all right, well we'll charge
Speaker 1: two dollars nine cents, right, those those uh add ons
Speaker 1: that go inside games that if you're a parent you
Speaker 1: already know about. You're already doing it. And so like
Speaker 1: two nine ads up. When you have a million people
Speaker 1: doing this, Travis Scott decided to do a concert, right,
Speaker 1: Like he could have twenty people in the arena, or
Speaker 1: he could have six million people watching more Fortnite. Yeah,
Speaker 1: you see the different There's so many different advantages that
Speaker 1: you have from being in the virtual space, and we've
Speaker 1: already prepared for it. Like I said, like our kids
Speaker 1: pay Robucks. This is nothing new to them. It feels
Speaker 1: like it's new to us. But when I thought about
Speaker 1: I'm like, wait, this feels like grand theft Auto when
Speaker 1: I was growing up. And so like the kids, they're
Speaker 1: already a very trained for very used to it. And
Speaker 1: it's not just for young people. The wealthiest people in
Speaker 1: the world are probably already invested in the land inside
Speaker 1: of these spaces because they know that this is the
Speaker 1: next thing that's coming. Yeah for sure, all right, we
Speaker 1: we have gotten to let you I know, it's just
Speaker 1: so many questions. But honestly, people were listening. Go go
Speaker 1: to their podcast, to their YouTube. I've learned so much
Speaker 1: from you guys. I want to continue learning from you guys.
Speaker 1: Super duper appreciate you for real. Now, Absolutely we and
Speaker 1: nothing nothing better than smart black men. Ain't nothing better
Speaker 1: than that. And y'all are clearly y'all are clearly that
Speaker 1: um and you know, Robin actually has been trying to
Speaker 1: get y'all or us to um collaborate with you guys
Speaker 1: for a while, and I'm like, I don't I don't
Speaker 1: know nothing about I was kind of hating on y'all.
Speaker 1: But I'm so happy we've had this conversation, Like our
Speaker 1: listeners are gonna be able to pick so much from
Speaker 1: what we've talked about and and really learned. And what
Speaker 1: we've learned, what Robin I've learned is we got to
Speaker 1: know the numbers of our episodes. Okay, but now, thank you,
Speaker 1: thank you all, and congratulations on your nomination. For the
Speaker 1: end of thank you, We appreciate it. Shout out to
Speaker 1: Nicole for being Nicole said we gotta do it. You
Speaker 1: gotta get this done, and we said, all right, once
Speaker 1: we have an opportunity, we're getting done. So shout in
Speaker 1: the coal in the Black Effect team. Yes, absolutely, Yes,
Speaker 1: we appreciate y'all. I look forward to seeing y'all continue
Speaker 1: to grow, um and I'm going to continue to be inspired.
Speaker 1: So yes, and when we see y'all in these streets,
Speaker 1: don't act like y'all don't know us, don't do that. Yes,
Speaker 1: remember that. Thank you so much, alright, thank you later.
Speaker 1: Oh my gosh, Roving I have learned so much. I've
Speaker 1: actually I kind of felt like an idiot. I feel
Speaker 1: like I know nothing and these guys are like so
Speaker 1: super smart I know, I mean, And honestly, the thing
Speaker 1: that I like, I said, I've been following for a minute,
Speaker 1: I've learned so much from them. I've been inspired. Um,
Speaker 1: and it's like I want to do everything because they
Speaker 1: do provide you with so much information. Um, so I
Speaker 1: gotta really just prioritize, like, you know, what do I
Speaker 1: want to focus on from the lessons that I've learned.
Speaker 1: But I also, I mean, it's just it's so like
Speaker 1: guys for real. If you're not hip to them, go
Speaker 1: check out their podcast. Um. I love learning about money
Speaker 1: and business and stuff like that. And they taught us
Speaker 1: have an excess strategy and that that applies to more
Speaker 1: than just finances. Okay, um, and um, what is your
Speaker 1: purpose when it comes to like starting a business, figure
Speaker 1: out what is your purpose? I love that it's like
Speaker 1: golden absolutely absolutely, and get your kids started. Honestly, I
Speaker 1: feel like the vending machine idea for a kid is
Speaker 1: awesome because kids love snacks, right, so for a kid,
Speaker 1: that would be so cool for them to actually have
Speaker 1: a vending machine that they can manage, they can go
Speaker 1: check it out, they can refill it. Like that's something
Speaker 1: that you know, you can start getting your kids involved in.
Speaker 1: And so, you know, check out their vending machine episode.
Speaker 1: I don't know what number that is, but um, just
Speaker 1: so many ways that you can get kids excited about business. Yes,
Speaker 1: so thank you all so much. This this episode is
Speaker 1: actually very reasonable. Um, let's never forget to live your
Speaker 1: life either reasonable or shady, yes or both. By Reasonably
Speaker 1: Shady is a production of the Black Affect podcast Network.
Speaker 1: For more podcasts from our Heart Radio, visit the I
Speaker 1: Heart Radio app, Apple podcast, or wherever you listen to
Speaker 1: your favorite shows, and you can connect with us on
Speaker 1: social media at Robin Dixon, ten, Giselle Briant, and Reasonably
Speaker 1: Shady