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Speaker 1: My graduates from my school being forced back drop drop, Mike,

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Speaker 1: drop back drop.

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Speaker 2: All right, guys, welcome back, another exciting, groundbreaking episode for

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Speaker 2: eyl So.

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Speaker 3: The Billionaire Edition.

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Speaker 2: Yeah, for sure, for sure, the Billionaire Boys Club. So

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Speaker 2: you know, we've had the privilege of talking to a

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Speaker 2: lot of great people and first and foremost, relationships are

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Speaker 2: extremely important. So first and foremost we have to thank

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Speaker 2: our guy, Al Harrington.

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Speaker 3: Yeah, but before we get started, we gotta let him

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Speaker 3: in on the breaking news alert. All right, So, earners,

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Speaker 3: the time has come, eylu grad school is here, and

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Speaker 3: you know how we bringing it. Over one hundred past webinars,

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Speaker 3: weekly webinars from industry experts, monthly financial planning calls with

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Speaker 3: a shat, our movie and book club, access to our

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Speaker 3: private investment group on Facebook, and we've just added the

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Speaker 3: home Buyers Blueprint Value one reloaded from our brother MG,

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Speaker 3: the Boys Guy, which has over twelve hours of content

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Speaker 3: to guide you through the process of buying a home

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Speaker 3: with a number of home buying programs to get you

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Speaker 3: through the process, y'all. And in addition to that, you

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Speaker 3: now have access to our weekly mentorship calls for all

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Speaker 3: Things real Estate, hosted again by brother. MG, it's an

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Speaker 3: amazing package. We put it all together. We can't wait

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Speaker 3: And right now it's fifty percent off. So you got

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Speaker 3: to do is head over to eyl University dot com.

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Speaker 3: You're gonna get fifty percent off. But yeah, shout out

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Speaker 3: to Al al here and Alumni episode sixteen.

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Speaker 2: Yeah, great guy, great guy. So you know, we put

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Speaker 2: it power social media. We put a post on social

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Speaker 2: media and it was like tag Mark Cuban if you

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Speaker 2: want to see him on email was two thousand people

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Speaker 2: we tagged them and Al hit me right in the

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Speaker 2: DM like, hey, I just spoke to his guy, hit

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Speaker 2: him right now, So I did, and to his credit,

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Speaker 2: the whole team was just absolutely phenomenal. So you know,

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Speaker 2: kudos kudos to everybody, Kudos to On and kudos to

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Speaker 2: Jacob for being in. Kudos to Mark as well, just

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Speaker 2: being extremely efficient and no hassle, no issues, and this

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Speaker 2: is quick, got it got it done, got it done.

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Speaker 2: So serial entrepreneur, NBA team owner, investor, TV Star Media, Mogul,

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Speaker 2: family man, philanthropists, and legend coach Icon. So you know,

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Speaker 2: we've talked to a lot of great people.

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Speaker 4: Right, because it all goes down hill from there.

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Speaker 2: Yeah, we talked to a lot of great people. Man

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Speaker 2: shout out to Shag d Wade, Dame Dash. But this

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Speaker 2: is the first billionaire station that so looking forward to it.

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Speaker 2: So first and foremost, mister Cuban, uh, thank thank you

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Speaker 2: for all right, all right now, Mark, Mark, thank you

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Speaker 2: for joining us. Appreciate it, pleasure. So so let's just

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Speaker 2: jump right into it. So, you know, our podcast is

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Speaker 2: a little different because we kind of dig into the backstories.

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Speaker 2: So the tweet that I put up it was when

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Speaker 2: you say, and something to the effect of I had

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Speaker 2: zero dollars with my bank account when I was twenty

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Speaker 2: seven years old, and that went viral because you know,

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Speaker 2: I did the calculations based off of Wikipedia. It was

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Speaker 2: like it was like ten years later you became a millionaire,

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Speaker 2: and fifteen years later you became a billionaire. So you know,

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Speaker 2: that's that's inspiring to a lot of people because it's like,

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Speaker 2: you know, they see a billionaire and it's like to

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Speaker 2: know a billionaire at one point in time in his

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Speaker 2: late twenties had zero dollars in his bank accounts. So

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Speaker 2: can we can we start where it all begins? So

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Speaker 2: I know you moved to Dallas when you were in

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Speaker 2: eighteen eighty two and you was a bartender and then

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Speaker 2: you worked at a software company where you got fired.

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Speaker 2: So can you can you start there?

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Speaker 4: Sure? So I went to Indiana University and a bunch

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Speaker 4: of my buddies had gone down to Dallas, and they

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Speaker 4: were like, so you know from Indiana, there's like the

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Speaker 4: weather's good, you know, the girls are hot, and the

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Speaker 4: economy's great. I'm like, wait, wait, back up second one.

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Speaker 4: And so I had a theat X one nine and

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Speaker 4: nineteen seventy seven Fiot X one nine with a hole

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Speaker 4: on the floorboard, and so I wanted to go someplace warm,

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Speaker 4: and I thought about La but my car wouldn't make it.

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Speaker 4: Thought about Miami. My car wouldn't make it. But I

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Speaker 4: could make the eight hours from Bloomington, Indiana, down to

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Speaker 4: Dallas because I could calculate the amount of oil I

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Speaker 4: was going to need every sixty miles and the amount

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Speaker 4: of gas I was going to use. So I got

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Speaker 4: down there and I moved in with my buddy and

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Speaker 4: his five four roommates, so I made number six. So

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Speaker 4: there were six to bucks living in a three bedroom apartment.

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Speaker 4: Obviously I had to get a job, and so I

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Speaker 4: got a job working as a bar I say it

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Speaker 4: was a bartender, but I was more bar back, and

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Speaker 4: every now and then I would pour a drink, right,

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Speaker 4: you know how it goes. And so did that at night,

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Speaker 4: and then during the day I went looking for a

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Speaker 4: job and got a job working for a computer store

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Speaker 4: called Your Business Software. It was one of the first

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Speaker 4: early computer stores. I remember being doing my intervie you

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Speaker 4: because I had never taken computers in college. Nothing. I

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Speaker 4: took one class and I cheated at them. And so

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Speaker 4: I remember the guy asking me. He goes, well, what

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Speaker 4: do you know about computers? And I'm like, I know

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Speaker 4: how to read the manuals, right, I know how to

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Speaker 4: sit in front of a computer and do basic stuff.

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Speaker 4: And so he's like, well, all right, if you're willing

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Speaker 4: to learn all this software programs by reading the manuals,

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Speaker 4: I'll give you a shot. And so I got that job,

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Speaker 4: paid me enough to pay my share of the rent.

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Speaker 4: It still had my shitty ass car. And I'll tell

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Speaker 4: you another story about that in a minute. You talk

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Speaker 4: about being broke. And so I got that job, and

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Speaker 4: so life is just going on, right, just trying to,

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Speaker 4: you know, keep up with everything and pay my bills.

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Speaker 4: Then my car dies and so now I got no car.

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Speaker 4: I mean it had to hole on the floorboard, you

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Speaker 4: know where I could see the road while I was driving,

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Speaker 4: so I knew it was just a matter of time.

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Speaker 4: And I didn't have any money to get a new car.

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Speaker 4: So probably two weeks later and I'm getting rides to

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Speaker 4: work in there everything. Two weeks later, we're driving along

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Speaker 4: with my buddts and we're driving along and there's a

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Speaker 4: car on the side of the road. I'm like, stop.

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Speaker 4: He's like what He's like, somebody had to abandon that car.

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Speaker 4: It was like a nineteen eighty Transam or nineteen seventy

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Speaker 4: something Transam. I'm like, someone had to abandon that car,

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Speaker 4: and I need a car, and so no, Lie, I

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Speaker 4: had my buddy pull over. I open up the car door.

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Speaker 4: It's open, right, and there's papers. And anybody who's ever

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Speaker 4: missed a car payment right or had a car repossessed

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Speaker 4: knows exactly what I'm talking about. Right, you got all

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Speaker 4: the papers and everything, and you're trying to figure out

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Speaker 4: how to pay the bills, and then when you just

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Speaker 4: can't pay it, and they're going to come get it.

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Speaker 4: You just leave it right, You're just done with it

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Speaker 4: and have it, you know. And so I knew what

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Speaker 4: was going on, and so I opened the car, pulled

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Speaker 4: out and saw the papers on the seat. Called the

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Speaker 4: bank right, got got back to our apartment. This is

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Speaker 4: before cell phones. Got back to the apartment, called the

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Speaker 4: bank and said, I found this car on the side

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Speaker 4: of the road. I know you guys are going to

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Speaker 4: try to repossess it, and you do me a favor.

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Speaker 4: I'll pick up the payments on it because I had

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Speaker 4: my software job at that point. I'll pick up the

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Speaker 4: payments on it because I lousey credit, awful credit. Like

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Speaker 4: I had gone to radio Shack to try to buy

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Speaker 4: a computer to help teach myself to learn, and I

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Speaker 4: tried to do it on credit and they turned me down.

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Speaker 4: Radio Shack turned me down, and so I called the bank.

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Speaker 4: They gave me the okay to take over the payments.

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Speaker 4: And that's when I started getting my life back on

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Speaker 4: track and started building my credit up. But even then,

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Speaker 4: I was like twenty four at the time and working

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Speaker 4: at that job, and things started to go good for me.

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Speaker 4: And then about nine months into that job. I had

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Speaker 4: an opportunity to close the deal, and this deal would

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Speaker 4: have got me a fifteen hundred dollars commission, which meant

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Speaker 4: I could have moved out of we called it the

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Speaker 4: Hill Hotel where I lived. It was in an apartment

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Speaker 4: complex called the Village, and a little part of me

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Speaker 4: called the Hill. And so I can move out of

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Speaker 4: the Hill Hotel, which was a shithold if I got

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Speaker 4: this fifteen hundred dollars commission. And so I go to

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Speaker 4: my boss, who and I normally have to sweep the floor,

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Speaker 4: open up the store and all that, and I'm like, look,

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Speaker 4: I want to close this deal and he's like, no,

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Speaker 4: you got to be there to open up the store.

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Speaker 4: Made the executive decision to go pick up the check,

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Speaker 4: thinking when I bring him a fifteen thousand dollars check,

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Speaker 4: fifteen hundred of which is going to be mine, life

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Speaker 4: is good. Right, fired me on the spot. I realized

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Speaker 4: I was a shitty employee. At that point in time,

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Speaker 4: it wasn't the first time I've been fired or quit

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Speaker 4: a job, right, And so started my own business called

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Speaker 4: micro Solutions, and that you know, I was taking a

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Speaker 4: step back financially because I had no income coming in,

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Speaker 4: begged somebody who was one of my prospects at the

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Speaker 4: software store to load me five hundred bucks to be

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Speaker 4: my first customer. So they gave me five hundred bucks

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Speaker 4: so I can buy the software that they needed. And

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Speaker 4: I took that and I just kept on growing from there,

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Speaker 4: and so that three years later, you know, when I

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Speaker 4: went to the ATM, I had my business going, but

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Speaker 4: everything that I had was going into the business, right,

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Speaker 4: And I thought, you know, it wasn't a normal paycheck, right,

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Speaker 4: It wasn't a regular paycheck for me, and so you

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Speaker 4: think sometimes you know, in your head, I've got a

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Speaker 4: hundred bucks or two hundred bucks and you go there

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Speaker 4: thinking you're going to take out some cash and it's

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Speaker 4: all gone. And so that was that was my moment,

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Speaker 4: and it was just like, Okay, this has got to

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Speaker 4: be you know, it wasn't a low point because I

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Speaker 4: had my company, but this was like the point where

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Speaker 4: you know, I got to pay attention to the details

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Speaker 4: and really start building this thing, and then it just

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Speaker 4: blew up from there. I really put the effort in

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Speaker 4: and it went big.

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Speaker 3: So you didn't know anything about computers to actually working

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Speaker 3: in a store with computers reading the manuals to getting

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Speaker 3: a software company, Like, how is this still manuals? Are

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Speaker 3: you starting to surround yourself around people who have some

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Speaker 3: insight in the field.

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Speaker 4: No, I got to learn, right because you know, if

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Speaker 4: I'm going to be an investor now right, It's not

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Speaker 4: like I'm worrying about my next sale right to pay

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Speaker 4: to get my fifteen hundred dollars commission. But you know,

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Speaker 4: but if I'm going to be the guy that, you know,

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Speaker 4: whether it's on Shark Tank or or doing deals, if

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Speaker 4: I'm going to be a tech guy, you got to

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Speaker 4: learn the tech I mean literally, I've got all these

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Speaker 4: books around here. I mean just about you know, learning

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Speaker 4: new technology, learning about AI, learning about you know, personalized medicine,

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Speaker 4: all these things. So yeah, I still will read the manual,

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Speaker 4: you know, only now it's like a download instead of

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Speaker 4: a book. But yeah, because you got to. Because if

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Speaker 4: I'm going to be out there saying I'm a tech

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Speaker 4: guy and I don't know shit about tech man, I

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Speaker 4: don't want to be that guy. I'll pass that fake

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Speaker 4: it till you make it. I want to be that

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Speaker 4: guy who really knows the stuff.

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Speaker 2: I want to ask you about selling the company to

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Speaker 2: h and R block. But before that, you brung up

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Speaker 2: a good point. How often do you do you educate

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Speaker 2: yourself a day?

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Speaker 4: Like?

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Speaker 2: Is it like an hour?

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Speaker 3: Like?

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Speaker 4: Every day? Every minute? Everything I do is about learning more,

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Speaker 4: because that's the only way I can kick your ass.

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Speaker 4: You know. It's not I'm not going to out athletic

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Speaker 4: you right, It's not about my basketball IQ. It's about

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Speaker 4: my business i Q right, and technology and business and

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Speaker 4: everything's always changing. If you know, five years ago, if

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Speaker 4: someone would ask me about artificial intelligence, I want no

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Speaker 4: ship right yet AI is the most important part of

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Speaker 4: technology and really business going forward. So if I'm going

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Speaker 4: to be an effective investor, an effective mentor, and an

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Speaker 4: effective you know, operator of businesses, you know, even with

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Speaker 4: the maths, I got to understand AI because you know,

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Speaker 4: like with the Mavericks, when you know, when you talk

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Speaker 4: about analytics, it's changed so dramatically even over the last

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Speaker 4: five years, going from you know, different types of things

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Speaker 4: per and you know, advanced RPM and all these different

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Speaker 4: metrics for basketball to how do you implement artificial intelligence

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Speaker 4: and pose estimation and computer vision and how do you

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Speaker 4: understand all that stuff to make the right decisions for

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Speaker 4: the maps and so if I want to be in

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Speaker 4: a position to make those decisions and not just ask

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Speaker 4: somebody else to do it, I got to learn it.

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Speaker 4: And so I put in hours, I do tutorials, I

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Speaker 4: take little online classes, and it doesn't make me an expert.

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Speaker 4: It's not like I'm going to say, you know, I

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Speaker 4: could get a job if I needed to running AI

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Speaker 4: or any tech for a big company. I couldn't. But

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Speaker 4: I understand all the concepts and understand the issues and

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Speaker 4: how to apply them to business. So if you're going

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Speaker 4: to be good at anything, you got to stay ahead

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Speaker 4: of the game. And business is the ultimate sport, you know.

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Speaker 4: I used to say it to Dirk and I always

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Speaker 4: say it to Luca. You know, it's like, dude, you know,

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Speaker 4: you play forty eight minutes. You know, a forty eight

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Speaker 4: minute game. You practice a couple hours, you go home

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Speaker 4: and you relax and you play. You know, you play

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Speaker 4: Call of Duty. You know, business is twenty four x seven.

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Speaker 4: I'm going every day because there's some sixteen year old

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Speaker 4: kid out there trying to kick my ass in one

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Speaker 4: of my companies and it ain't going to happen, right,

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Speaker 4: And so I'm that competitive and I'm that, you know,

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Speaker 4: I work that hard at learning to try to stay

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Speaker 4: ahead of the game.

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Speaker 2: I mean, that's that's amazing to hear you say you're

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Speaker 2: taking online classes, and it's like, you know, for somebody

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Speaker 2: of your stature to invest to still be investing your education,

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Speaker 2: not to wrestle your lawrence. I think that that's something

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Speaker 2: that's a teachable moment for all of us, but especially

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Speaker 2: people that's aspiring to get to the next level. Is

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Speaker 2: like if Mark Cuban is investing in his education, Like everybody.

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Speaker 4: Competitive sport, the ultimate competitive sport. You don't know who

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Speaker 4: your competition is. That's always changing. They're coming out of nowhere.

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Speaker 4: There's some kid who thinks he's gonna bust your ass, right,

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Speaker 4: you know, and walk in and try to take them,

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Speaker 4: you know, just try to do something that beats your

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Speaker 4: company or one of my investment companies. And I can't

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Speaker 4: let that happen. You know, somebody's got to be lebroad,

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Speaker 4: you know, and I may not get there, but I'm

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Speaker 4: gonna bust my ass try it.

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Speaker 2: So let me ask you this. When you sold the company,

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Speaker 2: the first company that you sold I believe it was

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Speaker 2: to H and R Block and it was thirty million,

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Speaker 2: you netted two million, So how is how did how

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Speaker 2: was that process and actually letting go and selling your

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Speaker 2: first company and kind of springboarding that until we're going

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Speaker 2: to talk about the next company after that, But what

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Speaker 2: was the process in that?

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Speaker 4: So we had thirty million in sales, we actually sold

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Speaker 4: the company for five million. I brought on a partner

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Speaker 4: who got to and then I gave a million to

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Speaker 4: the employees, and so that netted me two million. And

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Speaker 4: so I took that two million, and I got a

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Speaker 4: broker at Goldman Sachs, and I'm like, I want to

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Speaker 4: invest like an old man. I'm thirty years old. Because

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Speaker 4: to me, the process was, you know, I always I

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Speaker 4: took seven years. I worked frusting my ass at that company,

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Speaker 4: seven years with no vacation, right my saying. I didn't

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Speaker 4: go out and had fun. I did a lot of it,

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Speaker 4: but everybody else was taken off to go to Mexico

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Speaker 4: for a weekend or whatever. I had to stay back

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Speaker 4: and work, and so, you know, I put in all

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Speaker 4: this time, and my goal was always to retire, right.

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Speaker 4: My goal wasn't to start this company and run it

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Speaker 4: till I was seventy five years old, and grow it

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Speaker 4: to be just a big, enormous company. My goal was

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Speaker 4: retired by the time of I was thirty five and

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Speaker 4: when I got the opportunity to sell the company, and

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Speaker 4: what happened was I just got a letter from some

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Speaker 4: dude who said he was interested in buying the company.

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Speaker 4: He represented H and R block and I was like,

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Speaker 4: come on, I've been waiting for you. Yeah, right, you know,

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Speaker 4: I'm not messing around, and so, you know, and the

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Speaker 4: offera was good enough at that point in time where

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Speaker 4: I could say, you know what, if I'm willing to

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Speaker 4: live like a student, I could retire. And so we

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Speaker 4: went through the whole process. I went to Kansas City

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Speaker 4: and met with the H and R Block Board told

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Speaker 4: them when I was you know what I thought we

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Speaker 4: would do. As it turns out, they had other plans.

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Speaker 4: They just wanted to buy the company and have somebody

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Speaker 4: else running. And I was like, fine, you take it.

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Speaker 4: I'm good with that. You know, pay me a little

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Speaker 4: salary to answer questions when you need me. And I

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Speaker 4: bought a lifetime pass on American Airlines for one hundred

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Speaker 4: and twenty five thousand dollars, which meant I could take

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Speaker 4: me and anybody else anywhere I wanted to go in

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Speaker 4: the world at a moment's notice. Man, I'm at a

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Speaker 4: club in La. Let's go to Vegas. Come on, let's go.

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Speaker 4: I'm in Vegas. You know you want to go to.

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Speaker 2: How long was that? How long was that? Did that

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Speaker 2: pass expire or is that?

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Speaker 4: I aspired? After I bought my planes, I gave it

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Speaker 4: to my dad.

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Speaker 3: And went my uh A slice stunt slice stuff.

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Speaker 2: I actually wrote that down.

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Speaker 3: When you talk about your best investments, to first one

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Speaker 3: you were explained is investing yourself and how learning is

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Speaker 3: a skill. And your next one was the airline pass.

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Speaker 3: I'm like, man, if I.

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Speaker 4: Can get that, I don't know if they still sell them,

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Speaker 4: but I doubt it. I'm in La, right and I

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Speaker 4: met a female friend about fifteen minutes earlier, and I'm like,

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Speaker 4: let's go to bake it. Oh, let's go to Vegas.

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Speaker 4: And he's like, okay, let's go. So you know, all

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Speaker 4: you got to do is call and make a reservation.

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Speaker 4: And I made the reservation and when I show up,

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Speaker 4: they have to make seats available in first class for

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Speaker 4: me and my guests. And so I walked in there

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Speaker 4: and they're booting out magic John's I'm like, you don't

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Speaker 4: know me from madam.

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Speaker 3: And I'm just hey, Yeah, that's great. I heard Rick

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Speaker 3: Will say that he got a wingstop because he wanted

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Speaker 3: to show like the woman he was caught and he

359
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Speaker 3: could get wings at any point. This kind of Trump's it.

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Speaker 4: I'm a boss, right, and the best part of the

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Speaker 4: remixing name drops me. So that's even better.

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Speaker 2: You got it? Hey, I put his album up because

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Speaker 2: he drops Teflon down shout out to Rose. So so

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Speaker 2: we got to talk about one of the legend one

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Speaker 2: of the most legendary situations of all time and business.

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Speaker 2: So audio net you start that in nineteen ninety five,

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Speaker 2: which becomes broadcast dot Com in nineteen ninety eight, which

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Speaker 2: was first live stream uh service that showed Victoria's Secret

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Speaker 2: fashion show Ye, the first one resting peace period, FIRS streaming,

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Speaker 2: first streaming gay. You revolutionized the whole streaming process. So

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Speaker 2: you sell that in the middle of the dot com

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Speaker 2: boom to Yahoo for five point seven billion dollars. The

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Speaker 2: reason why this is so crazy for anybody that's not

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Speaker 2: really familiar with it is like the dot com boom

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Speaker 2: was when a lot of companies was getting brought at

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Speaker 2: very high valuations. But it was like perfect timing because

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Speaker 2: from my end is Dan correct me if I'm wrong

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Speaker 2: the company it was. You got Yahoo stock which was

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Speaker 2: at like an all time high peak after it split

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Speaker 2: of five hundred and then they peaked. It was eight

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Speaker 2: one hundred and eighteen dollars in nineteen ninety nine. Two

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Speaker 2: years later that stock with at eight dollars ninety three

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Speaker 2: percent drop in two thousand, you brought the Mavericks for

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Speaker 2: two hundred and eighty five million. So what happened with that?

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Speaker 2: Did you? Did you sell the stock?

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Speaker 4: History?

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Speaker 2: Answer short? The stock like how did you have a

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Speaker 2: crystal ball? Are you a psychic?

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Speaker 4: Well? First of all, like after I sold micro Solutions

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Speaker 4: and that two million dollars, I started off investing real conservative.

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Speaker 4: But my broker used to come to me all the

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Speaker 4: time and say, ask me questions about these technology companies,

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Speaker 4: and I would know more about them than the people

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Speaker 4: who are buying selling the stocks that the brokerages, and

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Speaker 4: so you know, I would give them answers and realize

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Speaker 4: after I gain answers, the stocks would go up and down.

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Speaker 4: If I said good stuff, the stocks will go over

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Speaker 4: if I said I'm like and He's like, dude, you

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Speaker 4: got to start trading these stocks because you know more

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Speaker 4: than our analysts. And so I did, and I was

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Speaker 4: crushing it, right. And so for the next four or

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Speaker 4: five years, I was making eighty ninety one hundred percent

403
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Speaker 4: a year of my money in the stock market. My

404
00:19:11,640 --> 00:19:16,000
Speaker 4: bank just kept on going straight up. And so by

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Speaker 4: the time we sold Broadcast dot Com to Yahoo, I'd

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Speaker 4: already seen these you know, bubbles come and go, the

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Speaker 4: PC bubble, right, the PC software bubble, you know, and

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Speaker 4: all these different companies go up and down. I'm like,

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Speaker 4: you know, I got to be next to my name.

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Speaker 4: I want to keep that being next to my name.

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Speaker 4: I don't need to be greedy. And so I went

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Speaker 4: to my broker and I said, I want to do

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Speaker 4: something called hedging, and I wanted to hedge it right,

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Speaker 4: which meant that I bought puts against the stock, which

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Speaker 4: means if it goes down, I make money, and I

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Speaker 4: sold calls against it, which means if it could if

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Speaker 4: it goes up, I made some money, but I don't

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Speaker 4: make as much. Right. It forces those people who I

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Speaker 4: sold the calls to to buy it from me at

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Speaker 4: that price, and so the stock ended up going down,

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Speaker 4: and I may ended up mak I made. I kept

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Speaker 4: all my net worth, you know, from the stock they

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00:20:04,320 --> 00:20:06,480
Speaker 4: got because I got it converted to cash because of

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00:20:06,520 --> 00:20:09,359
Speaker 4: the puts. But I actually actually made more from it

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Speaker 4: than I got originally because of the value of the

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00:20:12,359 --> 00:20:16,399
Speaker 4: puts when they came when it when they came to

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Speaker 4: their exploration date, and it was called one of the

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Speaker 4: top ten trades on Wall Street of all time when

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Speaker 4: I paid, because I ended up making more money instead

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Speaker 4: of losing all that money. And it was crazy because

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Speaker 4: I bought the MAVs in January of two thousand, so

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Speaker 4: twenty one years ago, yes, two days ago, right and so,

433
00:20:37,119 --> 00:20:40,560
Speaker 4: and the hedge hadn't really fully taken place yet because

434
00:20:41,240 --> 00:20:44,480
Speaker 4: it wasn't the hedge didn't really expire until two thousand

435
00:20:44,520 --> 00:20:46,600
Speaker 4: and one and two thousand and two. So I remember

436
00:20:46,720 --> 00:20:50,240
Speaker 4: sitting in sitting in the team bus with Don Nelson

437
00:20:50,280 --> 00:20:52,760
Speaker 4: and Del Harris, who was our one of our coaches

438
00:20:52,840 --> 00:20:58,199
Speaker 4: in our yeah. Yeah, And so I'm sitting there with

439
00:20:58,280 --> 00:21:01,159
Speaker 4: him like you paid two hundred eighty five million dollars.

440
00:21:01,160 --> 00:21:03,920
Speaker 4: That's crazy. That's like the most ever paid for any

441
00:21:04,200 --> 00:21:07,399
Speaker 4: sports team ever. And I'm like, dude, look see this

442
00:21:07,480 --> 00:21:10,560
Speaker 4: Yahoo stock that I got for audio neet for broadcast

443
00:21:10,640 --> 00:21:14,040
Speaker 4: dot com. It just went up seventy dollars today. That

444
00:21:14,160 --> 00:21:18,560
Speaker 4: paid for all the Mavericks, right, I mean, I was

445
00:21:18,600 --> 00:21:20,560
Speaker 4: living large, man, it was. It was. It was a

446
00:21:20,560 --> 00:21:21,040
Speaker 4: good time.

447
00:21:21,119 --> 00:21:25,639
Speaker 3: That paid for the private jet, the mansion, everything, so

448
00:21:25,680 --> 00:21:27,159
Speaker 3: that you were doing option treating.

449
00:21:27,680 --> 00:21:30,080
Speaker 4: Yeah, basically yeah, but only on my stock. Right. So

450
00:21:30,119 --> 00:21:33,120
Speaker 4: I owned the Yahoo stock, sold the calls, we brought

451
00:21:33,119 --> 00:21:36,119
Speaker 4: in revenue, used up money from the calls to five puts,

452
00:21:36,359 --> 00:21:39,800
Speaker 4: which protected my downside. And when the stock crater, like

453
00:21:39,840 --> 00:21:42,679
Speaker 4: you said, down to eight dollars, I got all that

454
00:21:42,720 --> 00:21:45,359
Speaker 4: extra premium. I got all that extra money because I

455
00:21:45,400 --> 00:21:48,840
Speaker 4: had bought the puts, and so yeah, so it turned

456
00:21:48,880 --> 00:21:49,640
Speaker 4: out okay for me.

457
00:21:49,840 --> 00:21:53,240
Speaker 3: Boys and girls. That's that's a lesson in hedging. I

458
00:21:53,280 --> 00:21:54,280
Speaker 3: hope you're paying attention.

459
00:21:54,480 --> 00:21:56,920
Speaker 4: And you know, like right now, if you've got all

460
00:21:56,920 --> 00:21:59,280
Speaker 4: these stocks right now, you know I got a hedge

461
00:21:59,320 --> 00:22:01,840
Speaker 4: on my stocks right now too, because you just don't know.

462
00:22:02,320 --> 00:22:05,960
Speaker 4: You know, pigs get fat, hogs get slaughtered. Right, You

463
00:22:06,000 --> 00:22:08,159
Speaker 4: don't need to get one hundred percent of every nickel

464
00:22:08,400 --> 00:22:10,080
Speaker 4: if you give back a little bit and spend a

465
00:22:10,119 --> 00:22:11,639
Speaker 4: little bit on the hedge. Even if you're going to

466
00:22:11,720 --> 00:22:14,440
Speaker 4: lose that mount, you sleep good at night. And if

467
00:22:14,480 --> 00:22:17,639
Speaker 4: the market craters, whether it's tomorrow or next year, I

468
00:22:17,680 --> 00:22:19,800
Speaker 4: may have lost a little bit, but I protected the

469
00:22:19,840 --> 00:22:22,320
Speaker 4: next day, you know, and the money I've got in

470
00:22:22,400 --> 00:22:25,280
Speaker 4: the stock market. So you know, you got to you

471
00:22:25,359 --> 00:22:27,399
Speaker 4: got to always remember you can't predict where the stock

472
00:22:27,400 --> 00:22:30,240
Speaker 4: market's going, even though like right now, bit coin's going

473
00:22:30,280 --> 00:22:33,320
Speaker 4: straight up, the stock market's going straight up. Everybody thinks

474
00:22:33,320 --> 00:22:36,040
Speaker 4: they're a genius, right, everybody's a genius in a bull market,

475
00:22:36,240 --> 00:22:39,000
Speaker 4: until you're not. And so even though you know, I

476
00:22:39,080 --> 00:22:41,320
Speaker 4: might think one way or expect one thing to happen,

477
00:22:41,520 --> 00:22:42,639
Speaker 4: I'm always hatching.

478
00:22:44,600 --> 00:22:47,600
Speaker 3: N Yeah. So I mean when when you buy the

479
00:22:47,640 --> 00:22:49,960
Speaker 3: maps at this point, I mean, you're just a fanatic

480
00:22:50,000 --> 00:22:53,959
Speaker 3: of basketball. You didn't really even have any ownership like tenure,

481
00:22:54,000 --> 00:22:56,000
Speaker 3: Like you had no idea. So I heard and I

482
00:22:56,040 --> 00:22:58,719
Speaker 3: heard playing the stories that the players were actually coaching

483
00:22:58,760 --> 00:23:00,680
Speaker 3: on what it is to be an owner, right like

484
00:23:00,720 --> 00:23:03,000
Speaker 3: Michael Finley and Nash he told us about that.

485
00:23:03,640 --> 00:23:05,560
Speaker 4: I had no idea. There was only two things out.

486
00:23:05,600 --> 00:23:08,560
Speaker 4: You know, I still, like, you know, in normal times,

487
00:23:08,560 --> 00:23:10,280
Speaker 4: I'd still go play pick up, like I want the

488
00:23:10,359 --> 00:23:12,880
Speaker 4: vaccine not only to feel safe, but so I can

489
00:23:12,920 --> 00:23:15,080
Speaker 4: go play pick up again, right, go back to you

490
00:23:15,119 --> 00:23:18,040
Speaker 4: know the gym where I play. And you know, so

491
00:23:18,160 --> 00:23:20,200
Speaker 4: to me, I'm a ball was lifetime guy type guy

492
00:23:20,200 --> 00:23:23,280
Speaker 4: and I always have been. And like with Finn and

493
00:23:23,440 --> 00:23:27,240
Speaker 4: Nash and Dirk and my guy Eric Strickland, Reg Butner.

494
00:23:27,640 --> 00:23:30,760
Speaker 4: You know, these guys took me under their wing. Damon

495
00:23:30,840 --> 00:23:35,000
Speaker 4: Jones even you know, just all giving me feedback on

496
00:23:35,880 --> 00:23:38,080
Speaker 4: you know, what it's like to be a ballplayer, what

497
00:23:38,200 --> 00:23:40,480
Speaker 4: you got to deal with as an NBA player and

498
00:23:40,600 --> 00:23:41,399
Speaker 4: things they need.

499
00:23:41,880 --> 00:23:42,080
Speaker 2: You know.

500
00:23:42,240 --> 00:23:44,080
Speaker 4: I remember, like the first day I bought the team,

501
00:23:44,160 --> 00:23:46,000
Speaker 4: we had a guy, Gary Trent, his son now Gary

502
00:23:46,040 --> 00:23:50,760
Speaker 4: Trent Junior, playing right and so g Trent, I remember,

503
00:23:51,280 --> 00:23:52,720
Speaker 4: I'm like, what do you guys need? What can I

504
00:23:52,760 --> 00:23:55,359
Speaker 4: do to make it easier for you to win games?

505
00:23:55,880 --> 00:24:00,399
Speaker 4: And he goes Cuban, he goes this, this team is

506
00:24:00,440 --> 00:24:05,920
Speaker 4: so cheap. Right now, we fly in to Oakland, California

507
00:24:05,960 --> 00:24:08,880
Speaker 4: to play the Warriors, and we stay at a holiday

508
00:24:08,920 --> 00:24:11,520
Speaker 4: in with new note roop service. And so you got

509
00:24:11,560 --> 00:24:13,960
Speaker 4: a whole team of your whole Mavericks team walking down

510
00:24:13,960 --> 00:24:17,160
Speaker 4: the street in Oakland California, sometimes three in the morning

511
00:24:17,240 --> 00:24:19,800
Speaker 4: looking for us seven to eleven to give food. You

512
00:24:19,840 --> 00:24:26,080
Speaker 4: think that's safe. I'm like, okay, you money, I got you.

513
00:24:26,440 --> 00:24:28,960
Speaker 4: And so we upgraded it to stay at Rich Carlton's.

514
00:24:29,000 --> 00:24:32,000
Speaker 4: And then once we started doing it, everybody, all the

515
00:24:32,040 --> 00:24:34,840
Speaker 4: teams started doing it. We started bringing Like when I

516
00:24:34,880 --> 00:24:37,679
Speaker 4: first got there, we spent more money on computer repair

517
00:24:37,720 --> 00:24:41,280
Speaker 4: and computer training than we did on player development. I'm like,

518
00:24:41,320 --> 00:24:43,840
Speaker 4: this is crazy. We're spending millions of dollars. I mean

519
00:24:44,080 --> 00:24:45,480
Speaker 4: we had Juwan Howard with a.

520
00:24:45,560 --> 00:24:49,040
Speaker 3: Nineteen erness What's up? You ever walk into a small

521
00:24:49,040 --> 00:24:52,440
Speaker 3: business and everything just works like, the checkout is fast,

522
00:24:52,480 --> 00:24:56,080
Speaker 3: there are seats of digital tipping is a breeze, and

523
00:24:56,119 --> 00:24:58,840
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524
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Speaker 3: are there? You using Square? We love supporting businesses that

525
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567
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Speaker 4: Ten million dollar contract, which would be a good contract today, right.

568
00:27:40,080 --> 00:27:43,960
Speaker 4: And so I brought in all these former maths, Mark

569
00:27:44,119 --> 00:27:48,280
Speaker 4: you know, Greg Dry and Mark Bryan and all these guys,

570
00:27:48,560 --> 00:27:51,200
Speaker 4: and they became more more than Wilie. They became our

571
00:27:51,440 --> 00:27:54,920
Speaker 4: player development coaches and the whole NBA crushed me because

572
00:27:54,920 --> 00:27:57,480
Speaker 4: I brought in these guys at like fifteen of them.

573
00:27:57,480 --> 00:28:00,720
Speaker 4: Everybody basically had their own player development coach, and I

574
00:28:00,840 --> 00:28:02,840
Speaker 4: paid the guys like twenty five brand a year because

575
00:28:02,840 --> 00:28:05,320
Speaker 4: they all just wanted to coaches twenty five brand a

576
00:28:05,359 --> 00:28:07,120
Speaker 4: year because they just want to get back in the game, right,

577
00:28:07,560 --> 00:28:10,480
Speaker 4: Kiki vandaway, And so they all have jobs now, which

578
00:28:10,520 --> 00:28:12,120
Speaker 4: all put them in the NBA. A lot of them

579
00:28:12,119 --> 00:28:16,520
Speaker 4: are still NBA player development guys and so, but all

580
00:28:16,560 --> 00:28:19,880
Speaker 4: the other NBA teams just torched me. What are you doing?

581
00:28:20,040 --> 00:28:23,040
Speaker 4: I mean people were writing articles. You know, how dumb

582
00:28:23,119 --> 00:28:26,520
Speaker 4: is this guy? He's got fifteen players and fifteen coaches, right,

583
00:28:26,920 --> 00:28:29,800
Speaker 4: because there were no development coaches. You know, you had

584
00:28:29,880 --> 00:28:32,040
Speaker 4: three coaches on the bench. You had your lead you

585
00:28:32,040 --> 00:28:34,680
Speaker 4: had your head coach, your lead assistant, and then maybe

586
00:28:34,720 --> 00:28:38,000
Speaker 4: one other assistant, maybe two, right, and one of them

587
00:28:38,000 --> 00:28:40,440
Speaker 4: will helped, you know, guys rebound and you you know,

588
00:28:40,520 --> 00:28:43,120
Speaker 4: coaches were supposed to work to develop guys. I'm like,

589
00:28:43,160 --> 00:28:45,840
Speaker 4: that's crazy. You know, coaching is a hard enough job

590
00:28:45,880 --> 00:28:48,640
Speaker 4: as it is. Playing is hard. You want to get

591
00:28:48,680 --> 00:28:52,280
Speaker 4: people who work to develop your players. And we started

592
00:28:52,320 --> 00:28:55,480
Speaker 4: doing it, and now all those player development staffs where

593
00:28:55,520 --> 00:28:58,760
Speaker 4: teams have three, four or five ten guys working that

594
00:28:58,840 --> 00:29:01,400
Speaker 4: had all started back from when I'm started, and now

595
00:29:01,560 --> 00:29:03,800
Speaker 4: like we got sham sham guy. We even have you know,

596
00:29:04,160 --> 00:29:07,640
Speaker 4: all handling coaches right in New York. Legend you see

597
00:29:07,640 --> 00:29:16,680
Speaker 4: the sham come out on the.

598
00:29:14,520 --> 00:29:16,880
Speaker 3: Yeah, man, you guys, you definitely changed the game. I

599
00:29:16,960 --> 00:29:19,440
Speaker 3: remember when there was first reports of TVs in the

600
00:29:19,440 --> 00:29:22,959
Speaker 3: locker room and everybody's locker had a DVD player, and

601
00:29:23,200 --> 00:29:24,960
Speaker 3: you were the first with the private planes. It was

602
00:29:25,000 --> 00:29:27,880
Speaker 3: just like Yo, the Dallas Mavericks became a place where

603
00:29:27,880 --> 00:29:29,600
Speaker 3: you wanted to be, Like we grew up like Jason

604
00:29:29,680 --> 00:29:32,920
Speaker 3: Kidd and Jim Jackson. It was like, all right, Jamal

605
00:29:33,040 --> 00:29:34,880
Speaker 3: Mashburg playing right.

606
00:29:35,080 --> 00:29:37,840
Speaker 4: So I bought the plane, but I'm like, let's talk

607
00:29:37,880 --> 00:29:40,800
Speaker 4: with people, right, So people, we can't do a press

608
00:29:40,800 --> 00:29:43,080
Speaker 4: release or anything. But when people would ask about the plane,

609
00:29:43,440 --> 00:29:45,360
Speaker 4: I told all the guys, you got to say that

610
00:29:45,400 --> 00:29:48,000
Speaker 4: there's a weight room on the plane. There's no weight

611
00:29:48,080 --> 00:29:49,680
Speaker 4: room out of play. Who the hell's gonna put a

612
00:29:49,680 --> 00:29:53,840
Speaker 4: weight room out of play? But they all told everybody

613
00:29:53,880 --> 00:29:56,320
Speaker 4: that there was a weight room on the plane. So

614
00:29:56,640 --> 00:29:59,440
Speaker 4: all these people, all these still to this day think

615
00:29:59,480 --> 00:30:02,000
Speaker 4: we have a room on the MAVs team plan.

616
00:30:02,120 --> 00:30:05,040
Speaker 2: It was just legend legendary situation. And I believe the

617
00:30:05,080 --> 00:30:07,920
Speaker 2: only NBA owning history to make an appearance at Live

618
00:30:08,040 --> 00:30:09,160
Speaker 2: on Sunday.

619
00:30:09,080 --> 00:30:15,440
Speaker 4: With Noah many times, probably the only order we stand correct.

620
00:30:16,680 --> 00:30:18,920
Speaker 2: With the championship trophy. I remember when they when they

621
00:30:18,920 --> 00:30:22,760
Speaker 2: beat Miami, they went to Live. That was that was legendary.

622
00:30:24,640 --> 00:30:27,560
Speaker 4: No wait, the best part of that story was, you know,

623
00:30:27,600 --> 00:30:30,120
Speaker 4: we just won and they came up they go, look,

624
00:30:30,160 --> 00:30:32,360
Speaker 4: we got this one hundred and forty thousand dollars bottle

625
00:30:32,400 --> 00:30:35,480
Speaker 4: of champagne. Dirk looks at me and he goes, yes,

626
00:30:35,560 --> 00:30:40,120
Speaker 4: you better get it. I'm like, I handed my my

627
00:30:40,120 --> 00:30:42,040
Speaker 4: my Black card and I'd just gotten a new Black

628
00:30:42,040 --> 00:30:44,280
Speaker 4: because you know they every six twelve months whatever, they

629
00:30:44,320 --> 00:30:46,480
Speaker 4: send you a new card, right, so for for a

630
00:30:46,560 --> 00:30:48,960
Speaker 4: theft protection, and so I've just gotten it, and you

631
00:30:49,000 --> 00:30:50,680
Speaker 4: know you're supposed to sign it and call it in

632
00:30:50,720 --> 00:30:53,120
Speaker 4: to activate it, right. I hadn't done that yet, and

633
00:30:53,160 --> 00:30:55,960
Speaker 4: I was so out of it, right, I didn't even

634
00:30:56,000 --> 00:30:58,680
Speaker 4: say twice. And so I give him my card and

635
00:30:59,320 --> 00:31:02,320
Speaker 4: fifteen minutes Dirk's like, Yo, where's it at Jets like,

636
00:31:02,400 --> 00:31:04,880
Speaker 4: where's it at? You know all Tyson Chandler, where is

637
00:31:04,880 --> 00:31:07,000
Speaker 4: it at? They want to see this big bottle of champagne.

638
00:31:07,200 --> 00:31:10,120
Speaker 4: And I get the tap on the shoulder, right, mister Cuban,

639
00:31:10,160 --> 00:31:12,320
Speaker 4: can you come back in the back before. It's been

640
00:31:12,360 --> 00:31:15,480
Speaker 4: a long time since I've got one of those cut

641
00:31:15,520 --> 00:31:18,360
Speaker 4: off all that, and so I'll go in the back.

642
00:31:18,400 --> 00:31:21,520
Speaker 4: They're like, your credit card got the client. I'm like,

643
00:31:21,640 --> 00:31:23,880
Speaker 4: some black AMX. It's not supposed to get the client.

644
00:31:24,400 --> 00:31:27,440
Speaker 4: And so they call I had to call up American Express,

645
00:31:27,520 --> 00:31:30,440
Speaker 4: no lie, and I get the first line person. I'm sorry, sir.

646
00:31:30,800 --> 00:31:34,000
Speaker 4: I'm like, can you put your manager on? And he's like,

647
00:31:34,200 --> 00:31:35,920
Speaker 4: you know, how can we be sure this is mister Cuban.

648
00:31:36,000 --> 00:31:39,640
Speaker 4: I'm like, did you watch TV tonight? You know you

649
00:31:39,720 --> 00:31:41,600
Speaker 4: would happen at the game. So finally I got it

650
00:31:41,680 --> 00:31:43,480
Speaker 4: approved and we got our bottle champaigne.

651
00:31:44,280 --> 00:31:45,880
Speaker 2: Let me ask you a question, some technical question about

652
00:31:45,880 --> 00:31:49,080
Speaker 2: the league. So the CBA, I feel like the NBA

653
00:31:49,360 --> 00:31:53,040
Speaker 2: in the NFL is completely different because from my understanding

654
00:31:53,080 --> 00:31:55,640
Speaker 2: that the the NBA the players have fifty one percent

655
00:31:55,640 --> 00:31:58,000
Speaker 2: of the revenue, where the NFL the players have forty

656
00:31:58,040 --> 00:32:00,040
Speaker 2: eight percent. Of the revenue, and it seemed like the

657
00:32:00,120 --> 00:32:03,600
Speaker 2: NBA is way more player friendly and the players get

658
00:32:03,760 --> 00:32:06,480
Speaker 2: more money and it's a much stronger relationship between the

659
00:32:06,560 --> 00:32:09,520
Speaker 2: owners guarantee contract the owners and the players, where the

660
00:32:09,640 --> 00:32:13,000
Speaker 2: NFL it's no, it's not really guaranteed contracts. The owners

661
00:32:13,000 --> 00:32:14,959
Speaker 2: and the players don't seem to have a good relationship.

662
00:32:15,080 --> 00:32:18,320
Speaker 2: So what are your thoughts on the CBA? And also,

663
00:32:18,360 --> 00:32:21,400
Speaker 2: I know you you have plans on being an NFL

664
00:32:21,440 --> 00:32:23,840
Speaker 2: owner as well, So what is your what are your

665
00:32:23,960 --> 00:32:26,160
Speaker 2: what are your thoughts on the difference between the league

666
00:32:26,200 --> 00:32:28,600
Speaker 2: and in the NBA, how it's structured with the CBA

667
00:32:28,600 --> 00:32:30,040
Speaker 2: and the relationship between the owners.

668
00:32:29,800 --> 00:32:32,000
Speaker 4: And the players. No plan to be an NFL owner.

669
00:32:32,040 --> 00:32:33,440
Speaker 2: Okay, two.

670
00:32:35,160 --> 00:32:37,680
Speaker 4: Too, you know, And you know people talk a lot

671
00:32:37,680 --> 00:32:40,640
Speaker 4: about guaranteed contracts in the NBA versus the NFL. The

672
00:32:40,720 --> 00:32:43,240
Speaker 4: difference is the NFL gets a lot more bonus money

673
00:32:43,320 --> 00:32:46,320
Speaker 4: up front, right, so you get paid a big check

674
00:32:46,400 --> 00:32:49,320
Speaker 4: up front, so you don't your contract may not be guaranteed,

675
00:32:49,360 --> 00:32:53,040
Speaker 4: but you're guaranteed money. Isn't all that different for the

676
00:32:53,120 --> 00:32:55,800
Speaker 4: skill players right now? You know. And then the other

677
00:32:55,800 --> 00:32:58,760
Speaker 4: big difference is they I think they have four years.

678
00:32:59,120 --> 00:33:03,640
Speaker 4: Every player has got four years guarant four year contracts.

679
00:33:03,680 --> 00:33:06,280
Speaker 4: You know, in the NFL, where it's very it's variable

680
00:33:06,280 --> 00:33:09,040
Speaker 4: in the NBA. But in any event, the biggest difference is,

681
00:33:09,640 --> 00:33:12,680
Speaker 4: you know, in the NFL, NFL players talk about the

682
00:33:12,840 --> 00:33:15,880
Speaker 4: league promoting the shield, right that it's all about you

683
00:33:15,920 --> 00:33:18,400
Speaker 4: know what's on the you know the NFL logo, and

684
00:33:18,680 --> 00:33:21,280
Speaker 4: you know they promote the NFL Whereas in the NBA,

685
00:33:21,360 --> 00:33:24,680
Speaker 4: it's all about the players. But you know, the talent tribe.

686
00:33:24,680 --> 00:33:28,240
Speaker 4: We're a talent driven league. Our players have huge social

687
00:33:28,280 --> 00:33:32,000
Speaker 4: media presence. You know, we're we're big, you know in

688
00:33:32,120 --> 00:33:35,240
Speaker 4: social media, not just Beliegue, but more importantly the players,

689
00:33:35,520 --> 00:33:37,880
Speaker 4: you know, And so that's the biggest difference. You know,

690
00:33:37,920 --> 00:33:40,160
Speaker 4: if you looked at you know, I grew up in Pittsburgh,

691
00:33:40,160 --> 00:33:42,160
Speaker 4: I'm a big Steelers fan or the Cowboys and a

692
00:33:42,160 --> 00:33:45,400
Speaker 4: big Cowboys fan. You're gonna know Dak Dak Prescott, and

693
00:33:45,520 --> 00:33:47,840
Speaker 4: you might know Zeke Elliott, but you're not going to

694
00:33:47,920 --> 00:33:49,840
Speaker 4: know the other fifty one guys on the team if

695
00:33:49,840 --> 00:33:52,080
Speaker 4: they walk in the room, right. And I might know

696
00:33:52,160 --> 00:33:54,680
Speaker 4: Ben Roethlisberger if I see him, but I'm not you know,

697
00:33:54,800 --> 00:33:56,880
Speaker 4: James Conner but maybe not. You know, the other fifty

698
00:33:56,920 --> 00:34:00,200
Speaker 4: one guys either basketball, you're playing two k right, you

699
00:34:00,240 --> 00:34:03,200
Speaker 4: know one through fifteen who most of the guys are,

700
00:34:03,280 --> 00:34:06,280
Speaker 4: maybe even the two way players, and that leads them

701
00:34:06,440 --> 00:34:09,600
Speaker 4: to having big social media presence. And when you see

702
00:34:09,600 --> 00:34:12,120
Speaker 4: a big highlight in the NBA or the NFL or

703
00:34:12,120 --> 00:34:15,239
Speaker 4: any other sport, you're not going to see the face, right,

704
00:34:15,280 --> 00:34:18,120
Speaker 4: there's no expression. They're in the helmets, you know, they

705
00:34:18,120 --> 00:34:20,960
Speaker 4: can't take their helmets off, and that's intentional, right, that

706
00:34:21,320 --> 00:34:24,560
Speaker 4: kind of keeps the visibility of the players down. And

707
00:34:24,800 --> 00:34:27,440
Speaker 4: on the NBA, you see a highlight from Luca, You

708
00:34:27,440 --> 00:34:31,080
Speaker 4: see Luca smiling, you see it ripping his jersey, you know,

709
00:34:31,160 --> 00:34:34,239
Speaker 4: you see Lebron doing the same thing. You see kd right,

710
00:34:34,480 --> 00:34:37,359
Speaker 4: you see the expression, the emotion. And then these guys

711
00:34:37,400 --> 00:34:40,680
Speaker 4: are taking those highlights and the walkings even when they

712
00:34:40,719 --> 00:34:42,640
Speaker 4: come into their arena and showing what they're wearing or

713
00:34:42,680 --> 00:34:45,319
Speaker 4: what their kicks are. You know, you're seeing those on

714
00:34:45,360 --> 00:34:47,360
Speaker 4: their social media and that's being picked up. You know

715
00:34:47,400 --> 00:34:51,000
Speaker 4: on overtime you know, ball is life, you know dunk demics.

716
00:34:51,000 --> 00:34:53,239
Speaker 4: You're seeing all these things over and over again, and

717
00:34:53,280 --> 00:34:55,920
Speaker 4: that leads to their brands being bigger than the league,

718
00:34:56,360 --> 00:34:58,440
Speaker 4: you know, and that gives a lot of leverage to

719
00:34:58,440 --> 00:35:01,120
Speaker 4: the players if the NFL players don't.

720
00:35:00,680 --> 00:35:04,080
Speaker 3: Speak speaking of the NBA, and obviously in the Corona situation.

721
00:35:04,239 --> 00:35:06,839
Speaker 3: Right now, we know that there's been a huge loss

722
00:35:06,840 --> 00:35:09,640
Speaker 3: one point five million billion dollars been lost in revenue,

723
00:35:10,000 --> 00:35:13,000
Speaker 3: and the likelihood of people coming back to the game,

724
00:35:13,200 --> 00:35:14,880
Speaker 3: you know, is up in the air for this season.

725
00:35:14,960 --> 00:35:17,400
Speaker 3: I'm just wondering, you know, what are the plans to

726
00:35:18,400 --> 00:35:21,879
Speaker 3: kind of offset and maybe gain some more revenue, being

727
00:35:22,160 --> 00:35:24,680
Speaker 3: being that a large part of what you take in

728
00:35:24,920 --> 00:35:26,759
Speaker 3: is not part of your income right now for the

729
00:35:26,760 --> 00:35:27,839
Speaker 3: team between.

730
00:35:27,600 --> 00:35:30,799
Speaker 4: Last year and this year, it ain't pretty Yeah, my good.

731
00:35:31,239 --> 00:35:33,800
Speaker 4: You know, I'm going to lose a lot of money

732
00:35:33,840 --> 00:35:35,759
Speaker 4: and there's not a lot we can do right now.

733
00:35:35,920 --> 00:35:39,520
Speaker 4: I mean, right now, the first thing is safety. Safety, safety, safety,

734
00:35:39,560 --> 00:35:42,799
Speaker 4: because if our guys aren't safe, we can't play. You know,

735
00:35:42,880 --> 00:35:45,360
Speaker 4: I would put them in a position. It's like Texas.

736
00:35:45,400 --> 00:35:47,520
Speaker 4: In Texas, we're allowed to have fans at Mavskins. I

737
00:35:47,560 --> 00:35:49,719
Speaker 4: can have up to five thousand people, but I'm not

738
00:35:49,760 --> 00:35:51,400
Speaker 4: going to do it. I was just talking to Dwight

739
00:35:51,440 --> 00:35:54,520
Speaker 4: Powell and MAXI Cleveland today and Luca and when I

740
00:35:54,560 --> 00:35:57,640
Speaker 4: was down to practice and you know, they were asking

741
00:35:57,640 --> 00:35:59,759
Speaker 4: about it, and I'm like, look, it's not so much,

742
00:36:00,000 --> 00:36:01,799
Speaker 4: and I don't think I can keep you know, the

743
00:36:01,880 --> 00:36:05,120
Speaker 4: fans safe. But what happens is, out of five thousand people,

744
00:36:05,200 --> 00:36:08,480
Speaker 4: somebody's going to happen, right, somebody's going to happen. And

745
00:36:09,120 --> 00:36:12,680
Speaker 4: you know, when you let people in the players and staff,

746
00:36:12,760 --> 00:36:15,200
Speaker 4: you're gonna let in their friends and family, and so

747
00:36:15,680 --> 00:36:19,640
Speaker 4: all it takes is one person who's a girlfriend, a parent,

748
00:36:20,160 --> 00:36:23,320
Speaker 4: you know, a niece and nephew, whatever it is, talking

749
00:36:23,360 --> 00:36:26,600
Speaker 4: to the wrong person, you know, in the concourse, and

750
00:36:26,800 --> 00:36:29,279
Speaker 4: all of a sudden, that then makes them sick, and

751
00:36:29,320 --> 00:36:32,560
Speaker 4: that makes the player sick. Or with our protocols, you

752
00:36:32,600 --> 00:36:34,839
Speaker 4: don't even have to be sick if one of those

753
00:36:34,880 --> 00:36:38,080
Speaker 4: people in that chain right there turns out to be sick,

754
00:36:38,120 --> 00:36:41,719
Speaker 4: even if it doesn't make the player sick, we got

755
00:36:41,760 --> 00:36:44,680
Speaker 4: to shut you down because of the protocols and so

756
00:36:44,960 --> 00:36:48,240
Speaker 4: all that stuff together, I've decided not to have fans.

757
00:36:48,880 --> 00:36:51,640
Speaker 4: I'm walking away. Probably We've got thirty four home games

758
00:36:51,680 --> 00:36:54,360
Speaker 4: but still to go for this season, and you know

759
00:36:54,400 --> 00:36:56,480
Speaker 4: how much money is that going to be twenty thirty

760
00:36:56,520 --> 00:36:59,400
Speaker 4: million dollars. I'd rather have a healthy squad and give

761
00:36:59,440 --> 00:37:00,520
Speaker 4: us a better chances to win.

762
00:37:01,239 --> 00:37:03,759
Speaker 2: So Shark Tank Shark.

763
00:37:03,480 --> 00:37:05,960
Speaker 4: Tank Friday nights on ABC.

764
00:37:06,400 --> 00:37:09,840
Speaker 2: We're back, sure, okay, okay, yeah, So what are some

765
00:37:10,400 --> 00:37:12,520
Speaker 2: all right? We got to talk about Ring? Is that?

766
00:37:12,600 --> 00:37:14,200
Speaker 2: Is that the biggest regret that you have?

767
00:37:15,239 --> 00:37:18,840
Speaker 4: No? No, So Ring did a good job, Jamie, you know,

768
00:37:18,960 --> 00:37:22,400
Speaker 4: Jamie came on and I've got a rule when it

769
00:37:22,400 --> 00:37:26,359
Speaker 4: comes to companies, and Ring violated this rule. And so

770
00:37:26,560 --> 00:37:28,879
Speaker 4: it doesn't mean, you know, even though this is my role,

771
00:37:28,920 --> 00:37:30,879
Speaker 4: it doesn't mean there's other companies who can't do well.

772
00:37:31,360 --> 00:37:33,120
Speaker 4: So if a company is going to have to raise

773
00:37:33,280 --> 00:37:36,239
Speaker 4: hundreds of millions of dollars in order to do tens

774
00:37:36,280 --> 00:37:40,640
Speaker 4: of millions of dollars in revenue, I'm not going to invest. Now,

775
00:37:40,680 --> 00:37:43,000
Speaker 4: that's not you know, in Silicon Valley they like that

776
00:37:43,080 --> 00:37:45,200
Speaker 4: kind of stuff that they like to buy growth. Right,

777
00:37:45,560 --> 00:37:47,920
Speaker 4: So you can raise a lot of money, and if

778
00:37:47,960 --> 00:37:50,799
Speaker 4: you show a growth curve that's really good like Ring did,

779
00:37:51,320 --> 00:37:53,719
Speaker 4: then they you know, there's a good chance you can

780
00:37:53,760 --> 00:37:56,840
Speaker 4: get acquired. And as it turns out, Ring got acquired

781
00:37:56,840 --> 00:38:00,480
Speaker 4: by Amazon. But what ends up happening to the early

782
00:38:00,520 --> 00:38:03,400
Speaker 4: investors is because you have to raise so much money,

783
00:38:03,400 --> 00:38:05,680
Speaker 4: you keep on getting diluted down and down and down

784
00:38:05,719 --> 00:38:07,840
Speaker 4: and down. And so if I would have made that

785
00:38:07,960 --> 00:38:11,399
Speaker 4: Shark Tank investment of seven hundred thousand dollars, I think

786
00:38:11,440 --> 00:38:13,919
Speaker 4: it was to get ten percent of the company by

787
00:38:13,960 --> 00:38:16,680
Speaker 4: the time it got sold for a billion dollars, I

788
00:38:16,680 --> 00:38:19,640
Speaker 4: would have been lucky if I owned one percent, because

789
00:38:19,719 --> 00:38:23,160
Speaker 4: and probably not even that. Now one percent of a

790
00:38:23,200 --> 00:38:25,840
Speaker 4: billion is still ten million. That's not bad, but it

791
00:38:25,920 --> 00:38:29,240
Speaker 4: probably would have been less because what happens is because

792
00:38:29,520 --> 00:38:33,400
Speaker 4: those companies are losing so much money. When the newer

793
00:38:33,400 --> 00:38:36,600
Speaker 4: investors come on and they give you one hundred million dollars,

794
00:38:36,880 --> 00:38:39,560
Speaker 4: they're not saying Mark, you know, just keep what you have.

795
00:38:40,120 --> 00:38:42,560
Speaker 4: They're saying, I want better terms than you even gave

796
00:38:42,600 --> 00:38:45,960
Speaker 4: your first investors. And so you know, when someone's given

797
00:38:46,000 --> 00:38:49,480
Speaker 4: you one hundred million or two hundred million dollars, the

798
00:38:49,600 --> 00:38:52,960
Speaker 4: terms get really onerous and they don't aren't really friendly

799
00:38:53,000 --> 00:38:55,920
Speaker 4: to the initial investors unless you keep on investing a

800
00:38:55,920 --> 00:38:58,560
Speaker 4: lot of money at the you know, in the hundreds

801
00:38:58,560 --> 00:38:59,959
Speaker 4: of Like if I would have put up a hundred

802
00:39:00,000 --> 00:39:02,399
Speaker 4: million dollars at that point in time, then I could

803
00:39:02,440 --> 00:39:04,719
Speaker 4: have kept it. It might have been good, but that's

804
00:39:04,800 --> 00:39:06,239
Speaker 4: just not what I'm going to do with a shark

805
00:39:06,280 --> 00:39:09,120
Speaker 4: tank company. So it's not a bad thing for him.

806
00:39:09,120 --> 00:39:11,640
Speaker 4: It's a great thing. But at the same time, you know,

807
00:39:11,680 --> 00:39:12,960
Speaker 4: I don't feel like I missed anything.

808
00:39:13,160 --> 00:39:15,040
Speaker 3: Has ever been somebody else come on the show and

809
00:39:15,120 --> 00:39:17,080
Speaker 3: you kind of sit there and like, why didn't I

810
00:39:17,120 --> 00:39:20,520
Speaker 3: think of that? Or has there been a company that

811
00:39:20,680 --> 00:39:23,200
Speaker 3: another shark took and you said, Man, I should have

812
00:39:23,200 --> 00:39:24,160
Speaker 3: invested in that one?

813
00:39:24,719 --> 00:39:27,239
Speaker 4: One one I wish I invested in just because it

814
00:39:27,280 --> 00:39:29,680
Speaker 4: was fun. That's Spikeball. The guy came on and said

815
00:39:29,680 --> 00:39:31,560
Speaker 4: that looks fun, but he wanted to start all these

816
00:39:31,560 --> 00:39:33,400
Speaker 4: big spike ball leagues, and I figured, I'm just going

817
00:39:33,480 --> 00:39:36,239
Speaker 4: to have to go out there and just hype spike ball, right,

818
00:39:36,280 --> 00:39:38,920
Speaker 4: which at the time I didn't think it would be

819
00:39:38,920 --> 00:39:41,440
Speaker 4: as much fun as it turned out to be. But

820
00:39:41,480 --> 00:39:44,719
Speaker 4: the one that another shark did that I wish I

821
00:39:44,719 --> 00:39:50,200
Speaker 4: had done is it's called comfy comfy clothes. I think

822
00:39:50,239 --> 00:39:57,360
Speaker 4: it's called where there's just these huge, oversized not even

823
00:39:58,160 --> 00:39:59,560
Speaker 4: I don't even know what you call it, Like these

824
00:39:59,560 --> 00:40:07,160
Speaker 4: big oversized comfy comfy things you wear right, you know whatever.

825
00:40:07,320 --> 00:40:10,400
Speaker 4: And so anyways, they're like forty nine bucks apiece and

826
00:40:10,440 --> 00:40:13,239
Speaker 4: they've sold millions, millions.

827
00:40:13,400 --> 00:40:15,399
Speaker 2: Barbara snuggle Is that the snuggle thing?

828
00:40:15,680 --> 00:40:19,360
Speaker 4: Yeah? Yeah, like a snugly type nugget stuggy. Yeah, like

829
00:40:19,400 --> 00:40:21,480
Speaker 4: a snugget type thing where it's just big and comfy.

830
00:40:21,920 --> 00:40:24,440
Speaker 4: And I didn't even sing twice about it. Barbara by

831
00:40:24,560 --> 00:40:27,239
Speaker 4: twenty five percent of the company for like fifty or

832
00:40:27,280 --> 00:40:30,000
Speaker 4: seventy five grand, she has made and she said this

833
00:40:30,040 --> 00:40:34,680
Speaker 4: in an episode, she had made thirty seven million dollars

834
00:40:34,680 --> 00:40:37,680
Speaker 4: from it. Wow, that's one I would, you know, if

835
00:40:37,680 --> 00:40:41,480
Speaker 4: I can rewatch, I would take that one. It's crazy,

836
00:40:41,719 --> 00:40:44,640
Speaker 4: but I love Barbara, I'm thrilled for her. But thirty

837
00:40:44,680 --> 00:40:47,600
Speaker 4: seven million dollars from less than one hundred grand investment,

838
00:40:48,520 --> 00:40:50,920
Speaker 4: that's great. What do you also mean that the dudes

839
00:40:50,920 --> 00:40:54,120
Speaker 4: that came on with that company? If she made thirty

840
00:40:54,160 --> 00:40:57,160
Speaker 4: seven million for one fourth of the company, multiply that

841
00:40:57,280 --> 00:40:59,000
Speaker 4: time three and that's what they made.

842
00:41:00,080 --> 00:41:02,200
Speaker 2: What do you what do you look for if somebody's

843
00:41:02,239 --> 00:41:03,840
Speaker 2: trying to pitch you on Shark Tank? Like, what do

844
00:41:03,880 --> 00:41:06,160
Speaker 2: you what are your key things that you look to say? Okay,

845
00:41:06,200 --> 00:41:08,400
Speaker 2: I mean this is something that I'm interested.

846
00:41:07,920 --> 00:41:10,920
Speaker 4: In, and you know, and you brought the point, you know,

847
00:41:11,120 --> 00:41:12,920
Speaker 4: is it something that makes me think? Why did I

848
00:41:13,000 --> 00:41:15,040
Speaker 4: think of that? That's always the first thing, because I

849
00:41:15,040 --> 00:41:17,160
Speaker 4: think I'm good at this stuff. And if there's something

850
00:41:17,200 --> 00:41:19,799
Speaker 4: that somebody comes on and I'm like wow, you know,

851
00:41:19,840 --> 00:41:22,239
Speaker 4: so that's first. If it's not one of those, then

852
00:41:22,280 --> 00:41:25,200
Speaker 4: it's like, Okay, is this somebody who's going to bust

853
00:41:25,239 --> 00:41:28,480
Speaker 4: their ass and be a grind you know, hustling all

854
00:41:28,520 --> 00:41:30,919
Speaker 4: my life type person, right and grinding all my life

855
00:41:30,960 --> 00:41:35,560
Speaker 4: just going because that that's what it takes. Because these

856
00:41:35,600 --> 00:41:37,680
Speaker 4: aren't companies that are at the top of the food

857
00:41:37,719 --> 00:41:39,840
Speaker 4: chain killing it right. They need us for a reason

858
00:41:40,120 --> 00:41:42,440
Speaker 4: and that's why they're there. And so if you're not

859
00:41:42,520 --> 00:41:45,600
Speaker 4: willing to be a learner and grinding all the time,

860
00:41:45,920 --> 00:41:48,839
Speaker 4: then it's not going to work. And what happens is

861
00:41:49,040 --> 00:41:51,560
Speaker 4: having done the show so long, you know, you you

862
00:41:51,640 --> 00:41:53,279
Speaker 4: realize that there are gonna be people who think that

863
00:41:53,280 --> 00:41:55,239
Speaker 4: if I get in to deal with the shark, I'm

864
00:41:55,239 --> 00:41:57,400
Speaker 4: going to do all the work right or whoever the

865
00:41:57,400 --> 00:42:00,319
Speaker 4: shark is. It's got to be the exact opposite. And then,

866
00:42:00,440 --> 00:42:04,360
Speaker 4: you know, grinding learning selling because There's never been a

867
00:42:04,400 --> 00:42:06,880
Speaker 4: company in the history of companies that was ever successful

868
00:42:07,160 --> 00:42:10,919
Speaker 4: without selling. And what happens is a lot of entrepreneurs think, well,

869
00:42:10,960 --> 00:42:13,400
Speaker 4: I'll get somebody else to do the selling. And you

870
00:42:13,440 --> 00:42:15,839
Speaker 4: can't do that if you don't love your product enough

871
00:42:15,880 --> 00:42:17,960
Speaker 4: to always want to make it available to people and

872
00:42:18,239 --> 00:42:21,480
Speaker 4: let people know why it's great. It's not a good product.

873
00:42:23,400 --> 00:42:25,640
Speaker 4: That's what I look for. Like, I'll give you one example.

874
00:42:25,680 --> 00:42:29,239
Speaker 4: I had Noel this dude, and now you guys don't

875
00:42:29,280 --> 00:42:30,960
Speaker 4: have naturals. You guys are missing upstairs.

876
00:42:32,120 --> 00:42:33,239
Speaker 2: I got, I got a lot.

877
00:42:36,520 --> 00:42:36,959
Speaker 4: I'm done.

878
00:42:37,040 --> 00:42:37,439
Speaker 2: I'm done.

879
00:42:37,480 --> 00:42:43,320
Speaker 4: I'm done. But you've got to come up called twisted

880
00:42:43,480 --> 00:42:45,319
Speaker 4: the twisted upcome you know what the naturally you got

881
00:42:45,320 --> 00:42:49,480
Speaker 4: to use the sponges and everything, right, I had to

882
00:42:49,560 --> 00:42:55,080
Speaker 4: learn this stuff. It's not something. So he made this

883
00:42:55,160 --> 00:42:59,359
Speaker 4: little baby tennis racket, right, So it's just like put

884
00:42:59,400 --> 00:43:01,920
Speaker 4: it in there and on one side because one side's

885
00:43:01,960 --> 00:43:04,400
Speaker 4: point e so you can twist it up and everything.

886
00:43:04,680 --> 00:43:06,760
Speaker 4: On the other side. It's like a little tennis racket

887
00:43:06,800 --> 00:43:08,600
Speaker 4: so you can, you know, fluff it up and get

888
00:43:08,640 --> 00:43:11,480
Speaker 4: it where you wanted to look at. And Noel sells

889
00:43:11,520 --> 00:43:15,400
Speaker 4: them online now crushing it, crushing it. I mean he

890
00:43:15,520 --> 00:43:17,920
Speaker 4: sold millions upon millions of dollars. It's one of my

891
00:43:18,000 --> 00:43:21,080
Speaker 4: better investments. And now Noel is out there investing in

892
00:43:21,160 --> 00:43:25,040
Speaker 4: other startup companies. And what you know, the lesson from

893
00:43:25,239 --> 00:43:28,239
Speaker 4: Noel dirty It twisted up is that you can start

894
00:43:28,280 --> 00:43:31,400
Speaker 4: with an idea that meets the need in your community,

895
00:43:31,800 --> 00:43:33,719
Speaker 4: right you don't It doesn't have to be some big

896
00:43:33,800 --> 00:43:36,279
Speaker 4: idea that you're selling to people you don't know. You

897
00:43:36,320 --> 00:43:38,560
Speaker 4: don't have to go out there and raise money. All

898
00:43:38,600 --> 00:43:41,000
Speaker 4: he did was take the money from his job, make

899
00:43:41,040 --> 00:43:44,120
Speaker 4: some prototypes and go to some barbershops that he knew

900
00:43:44,160 --> 00:43:46,279
Speaker 4: and say, look, can you try this? And once they

901
00:43:46,320 --> 00:43:48,399
Speaker 4: started asking for more and more and more and wanting

902
00:43:48,480 --> 00:43:50,960
Speaker 4: to buy them and sell them to their customers, then

903
00:43:51,000 --> 00:43:52,920
Speaker 4: he took that and just kept on building it and

904
00:43:52,920 --> 00:43:55,720
Speaker 4: building it, and now he's making you know, million dollars

905
00:43:55,719 --> 00:43:58,160
Speaker 4: plus a year. I'm doing really well from it too,

906
00:43:58,680 --> 00:44:01,440
Speaker 4: And so you know, it doesn't matter where you started,

907
00:44:01,480 --> 00:44:03,400
Speaker 4: where you come from. If you've got an idea that

908
00:44:03,440 --> 00:44:05,440
Speaker 4: can help people around you, you don't need to go

909
00:44:05,480 --> 00:44:07,080
Speaker 4: out and raise money. You just got to go out

910
00:44:07,120 --> 00:44:07,600
Speaker 4: and do it.

911
00:44:07,600 --> 00:44:09,040
Speaker 3: Sounds like a baby shark in the making.

912
00:44:09,760 --> 00:44:12,479
Speaker 4: Oh you says that baby line. Now he's real deal.

913
00:44:13,280 --> 00:44:15,600
Speaker 2: They say the average millionaire has seven streams of income.

914
00:44:15,880 --> 00:44:18,120
Speaker 2: But shout out to Ian. We have a stock show

915
00:44:18,120 --> 00:44:19,960
Speaker 2: called Market Money. It's like the hottest stock show on

916
00:44:20,200 --> 00:44:22,040
Speaker 2: You should if you're if you're invested, you could come

917
00:44:22,080 --> 00:44:25,560
Speaker 2: on that because you're you're a serious stock investor. But

918
00:44:26,160 --> 00:44:29,840
Speaker 2: our co host Ian Dunlap, he said something, he said, actually,

919
00:44:29,920 --> 00:44:34,520
Speaker 2: somebody told him that actually twenty four streams. So what

920
00:44:34,640 --> 00:44:36,320
Speaker 2: do you think about that? Because you had that so

921
00:44:36,400 --> 00:44:38,719
Speaker 2: much about the seven streams of income, but then it's

922
00:44:38,760 --> 00:44:40,840
Speaker 2: like twenty four streams. That's a lot more than seven.

923
00:44:41,080 --> 00:44:43,200
Speaker 2: So do you think that that's too far to diversify?

924
00:44:43,280 --> 00:44:44,920
Speaker 2: If you're focused on wealth, you should focus on a

925
00:44:44,920 --> 00:44:46,640
Speaker 2: few things or like what's your thoughts on that?

926
00:44:46,960 --> 00:44:49,520
Speaker 4: Focus on what you're good at, what you know. So

927
00:44:49,640 --> 00:44:52,880
Speaker 4: always remember this in any investment. You know, if you

928
00:44:52,960 --> 00:44:56,279
Speaker 4: go to buy a stock, there's somebody selling it to you, right,

929
00:44:56,680 --> 00:44:59,279
Speaker 4: they didn't just manufacture it, and they're not selling it

930
00:44:59,320 --> 00:45:01,920
Speaker 4: because well, you know what, I like, Mark, I'm going

931
00:45:01,960 --> 00:45:03,480
Speaker 4: to sell in my stock. I know the price is

932
00:45:03,520 --> 00:45:04,960
Speaker 4: going up, but I'm gonna sell it to him because

933
00:45:05,000 --> 00:45:07,080
Speaker 4: he's a good guy. Right, it doesn't work like that.

934
00:45:07,120 --> 00:45:08,920
Speaker 4: They're selling because they think it's going down or it's

935
00:45:08,920 --> 00:45:11,480
Speaker 4: not going anywhere. They need the money, and so you

936
00:45:11,520 --> 00:45:13,799
Speaker 4: always have to ask yourself why is somebody on the

937
00:45:13,800 --> 00:45:16,480
Speaker 4: other side of the deal doing what they're doing, and

938
00:45:17,120 --> 00:45:20,279
Speaker 4: just being good at one thing is really hard. And

939
00:45:20,360 --> 00:45:22,919
Speaker 4: so what I always tell people, if you can get

940
00:45:23,000 --> 00:45:25,720
Speaker 4: really really good at something. If you want to trade stocks,

941
00:45:26,400 --> 00:45:29,760
Speaker 4: learn everything about the stocks you're trading, right, don't just guess.

942
00:45:30,000 --> 00:45:33,440
Speaker 4: If you want to get into cryptocurrency, learn everything you can.

943
00:45:33,760 --> 00:45:36,800
Speaker 4: Once you have some success, then you can start peeling

944
00:45:36,840 --> 00:45:39,319
Speaker 4: off some of that money that you've made and put

945
00:45:39,320 --> 00:45:42,919
Speaker 4: it into other things and diversify your portfolio. But each

946
00:45:43,000 --> 00:45:45,480
Speaker 4: thing that you add, don't do it unless you know

947
00:45:45,520 --> 00:45:49,080
Speaker 4: what you're doing. And don't assume that somebody else, because

948
00:45:49,120 --> 00:45:51,520
Speaker 4: they have money or because they call themselves in a

949
00:45:51,600 --> 00:45:55,279
Speaker 4: financial advisor, knows what they're doing. Always check your whole card.

950
00:45:55,440 --> 00:45:58,920
Speaker 4: Always make sure you know what you're doing, because you know,

951
00:45:59,239 --> 00:46:01,120
Speaker 4: go back to the inner that bubble. There are a

952
00:46:01,120 --> 00:46:04,120
Speaker 4: whole lot of people just paying any price, and they

953
00:46:04,120 --> 00:46:07,000
Speaker 4: thought I was crazy. I went on CMBC and told

954
00:46:07,040 --> 00:46:09,880
Speaker 4: people I had hedge and every time y'allhoo stock one up,

955
00:46:09,920 --> 00:46:12,319
Speaker 4: they said, don't you feel really bad that you left

956
00:46:12,400 --> 00:46:15,359
Speaker 4: us money on the table, And I'm like, no, I'm good.

957
00:46:15,400 --> 00:46:19,560
Speaker 4: I sleep really good at that, and so don't get greedy. Right,

958
00:46:19,800 --> 00:46:22,080
Speaker 4: So when you talk about seven or twenty four different

959
00:46:22,120 --> 00:46:24,719
Speaker 4: forms of income, really what it comes down to is

960
00:46:24,760 --> 00:46:28,280
Speaker 4: what are you good at? And stick to those things

961
00:46:28,480 --> 00:46:31,520
Speaker 4: and if there's you know, most people can't be good

962
00:46:31,560 --> 00:46:35,400
Speaker 4: at more than one thing. It's hard, right, And I

963
00:46:35,440 --> 00:46:39,200
Speaker 4: can have multiple streams of income because I've got enough

964
00:46:39,239 --> 00:46:42,520
Speaker 4: cash where I can take different chances. If you're a millionaire,

965
00:46:42,800 --> 00:46:45,440
Speaker 4: you know, and you've got a million dollars in cash,

966
00:46:45,600 --> 00:46:47,719
Speaker 4: that's not going to last you your whole life. So

967
00:46:47,840 --> 00:46:49,880
Speaker 4: you've got to treat it with a lot of respect

968
00:46:50,200 --> 00:46:52,960
Speaker 4: and make sure you know exactly what you're doing. It's

969
00:46:53,000 --> 00:46:55,279
Speaker 4: always a thrill when you hit that platform, right when

970
00:46:55,280 --> 00:46:57,480
Speaker 4: you say a million dollars, man, I've made it. How

971
00:46:57,520 --> 00:47:00,239
Speaker 4: good does that feel? And you get all excited, you know,

972
00:47:00,400 --> 00:47:03,120
Speaker 4: and everything, But you also have to be realistic and

973
00:47:03,239 --> 00:47:06,640
Speaker 4: remember that, you know, being a millionaire doesn't mean you

974
00:47:06,640 --> 00:47:08,239
Speaker 4: can go out and blow that cash. It means you've

975
00:47:08,280 --> 00:47:11,480
Speaker 4: got to protect it. And why would you invest in

976
00:47:11,560 --> 00:47:14,840
Speaker 4: something just to get seven different you know, streams of

977
00:47:14,880 --> 00:47:18,560
Speaker 4: income if you're not sure, and if you divide a

978
00:47:18,560 --> 00:47:22,319
Speaker 4: million dollars up seven ways, you're going to lose some

979
00:47:22,400 --> 00:47:24,480
Speaker 4: of them. Right, it's going to be hard to have,

980
00:47:24,680 --> 00:47:27,560
Speaker 4: you know, one hundred and fifty thousand dollars all making

981
00:47:27,600 --> 00:47:30,320
Speaker 4: you money and doing well. Some of it's going to

982
00:47:30,360 --> 00:47:33,240
Speaker 4: crap out, and so you've got to be really careful.

983
00:47:33,840 --> 00:47:37,080
Speaker 4: You know, what I tell people is have at least

984
00:47:37,160 --> 00:47:41,600
Speaker 4: six months of expense money sitting in the bank, if

985
00:47:41,640 --> 00:47:44,239
Speaker 4: not more, because like we learned with the pandemic, she

986
00:47:44,400 --> 00:47:47,799
Speaker 4: can go bad really fast. You know, twelve years ago

987
00:47:47,880 --> 00:47:50,400
Speaker 4: we had the Great Recession. Now we have, you know,

988
00:47:50,440 --> 00:47:53,560
Speaker 4: the pandemic. And so if you have six months of

989
00:47:53,680 --> 00:47:56,359
Speaker 4: expenses in cash just sitting in the bank, even though

990
00:47:56,360 --> 00:47:59,560
Speaker 4: you're pissed, it's not earning anything being able to write

991
00:47:59,600 --> 00:48:01,440
Speaker 4: that check to cover your rent if you lose your

992
00:48:01,520 --> 00:48:04,640
Speaker 4: job or so god forbid, something worse happens. Right, you

993
00:48:04,680 --> 00:48:08,840
Speaker 4: want to have that cushion. It's not twelve months. To me,

994
00:48:09,040 --> 00:48:12,040
Speaker 4: that's not necessarily another form of income. But being able

995
00:48:12,040 --> 00:48:14,680
Speaker 4: to sleep good at night, that's another form of income,

996
00:48:14,960 --> 00:48:17,360
Speaker 4: being stressed about all that shit all the time because

997
00:48:17,360 --> 00:48:19,920
Speaker 4: you're into things you're not quite sure about. I mean,

998
00:48:19,960 --> 00:48:22,920
Speaker 4: anybody who's made a little money has always looked at

999
00:48:22,920 --> 00:48:27,080
Speaker 4: investments and there's no worse feeling than you're calling your guy,

1000
00:48:27,200 --> 00:48:30,320
Speaker 4: calling your woman, whatever it is, the lady that's working

1001
00:48:30,320 --> 00:48:33,840
Speaker 4: with you, and saying, how are we doing, And always

1002
00:48:33,840 --> 00:48:36,759
Speaker 4: at the beginning it's, oh, it's great, exactly like we said,

1003
00:48:36,840 --> 00:48:39,120
Speaker 4: Oh it's great. Then there's that one day and one

1004
00:48:39,160 --> 00:48:41,680
Speaker 4: of those investments where they don't call you back, Oh

1005
00:48:41,760 --> 00:48:44,040
Speaker 4: it's just busy. Sorry, Then they don't call you back again.

1006
00:48:44,120 --> 00:48:47,440
Speaker 4: Then they don't call you back again. Right, that's because

1007
00:48:47,480 --> 00:48:50,359
Speaker 4: you did something you didn't fully understand. And so not

1008
00:48:50,440 --> 00:48:54,160
Speaker 4: that every investment can't go wrong, even with the best intentions,

1009
00:48:54,560 --> 00:48:56,719
Speaker 4: but you're going to limit your risk. You want to

1010
00:48:56,760 --> 00:48:59,080
Speaker 4: limit your risk until you get to the point where

1011
00:48:59,080 --> 00:49:02,680
Speaker 4: you can say, fuck it. If father's fifty grand, I'm fine,

1012
00:49:02,880 --> 00:49:05,920
Speaker 4: father's one hundred grand, I'm fine. When you get to

1013
00:49:05,960 --> 00:49:09,560
Speaker 4: that point, then you can start making investments that get

1014
00:49:09,640 --> 00:49:12,000
Speaker 4: you to those seven different screams of income. You know what,

1015
00:49:12,040 --> 00:49:13,560
Speaker 4: invite be back on. If you want to come on,

1016
00:49:13,680 --> 00:49:15,279
Speaker 4: I'll come on the stock show and we can pick

1017
00:49:15,320 --> 00:49:16,880
Speaker 4: it up from here. You guys are amazing.

1018
00:49:16,920 --> 00:49:17,040
Speaker 2: Man.

1019
00:49:17,080 --> 00:49:17,520
Speaker 4: I enjoyed that.

1020
00:49:17,719 --> 00:49:20,240
Speaker 2: I appreciate. I appreciate that you're not in the market Monday.

1021
00:49:20,280 --> 00:49:21,960
Speaker 2: We would love to have you on market Mondays. But

1022
00:49:22,280 --> 00:49:24,480
Speaker 2: first and foremost, thank you. Thank you was gracious with

1023
00:49:24,520 --> 00:49:27,000
Speaker 2: your time, and once again, thank you to the whole team.

1024
00:49:27,040 --> 00:49:31,439
Speaker 2: Thank you to Al Harrington and how I said, Hi, Man, Yeah,

1025
00:49:31,480 --> 00:49:33,840
Speaker 2: for sure, for sure? What would you what would you

1026
00:49:33,880 --> 00:49:36,320
Speaker 2: like to tell the people? Any last words that you

1027
00:49:36,320 --> 00:49:37,640
Speaker 2: would like to leave the people with.

1028
00:49:38,480 --> 00:49:41,760
Speaker 4: You know, life's about the grind and life's about learning.

1029
00:49:42,280 --> 00:49:44,879
Speaker 4: You know, if it were easy, everybody would be doing it.

1030
00:49:46,000 --> 00:49:49,040
Speaker 4: But I think a lot of people get frustrated because

1031
00:49:49,120 --> 00:49:51,839
Speaker 4: it's hard to find something that you love to do

1032
00:49:52,080 --> 00:49:54,560
Speaker 4: and that you're good at. You know, like I told

1033
00:49:54,560 --> 00:49:57,239
Speaker 4: you guys the stories about getting into computers. I didn't

1034
00:49:57,280 --> 00:49:59,640
Speaker 4: know I was going to be good at computers. I tried.

1035
00:50:00,400 --> 00:50:01,960
Speaker 4: I tried a lot of different things, a lot of

1036
00:50:02,040 --> 00:50:04,720
Speaker 4: jobs that didn't work out, until I got to something

1037
00:50:04,760 --> 00:50:07,239
Speaker 4: that did work out when I was twenty four, you know,

1038
00:50:07,320 --> 00:50:10,080
Speaker 4: twenty five. And then once I got there and realized

1039
00:50:10,080 --> 00:50:12,279
Speaker 4: I could be good at it, I just ramped it up,

1040
00:50:12,320 --> 00:50:14,880
Speaker 4: and I just kept on levering up. And that's the

1041
00:50:14,920 --> 00:50:17,319
Speaker 4: hard part. When you're young, if you're you know, in

1042
00:50:17,360 --> 00:50:20,600
Speaker 4: college or in school or out of school for that matter,

1043
00:50:22,040 --> 00:50:24,000
Speaker 4: try different things. You don't have to have all those

1044
00:50:24,040 --> 00:50:26,680
Speaker 4: answers when you're young, Try all the different things, because

1045
00:50:26,719 --> 00:50:29,600
Speaker 4: you know what, if you're broke, now's the time to

1046
00:50:30,280 --> 00:50:32,000
Speaker 4: try it, right, because what's the worst that you're at.

1047
00:50:32,080 --> 00:50:37,040
Speaker 4: It's gonna happen, right, You're gonna stay broke. But if

1048
00:50:37,040 --> 00:50:38,799
Speaker 4: you keep on trying different things, when you find that

1049
00:50:38,880 --> 00:50:42,200
Speaker 4: one great thing, then amazing things happen. And when you

1050
00:50:42,200 --> 00:50:45,560
Speaker 4: find something you're good at, go for it. Go for it.

1051
00:50:45,600 --> 00:50:48,759
Speaker 4: Don't take any prisoners, man, Just do everything you can

1052
00:50:48,840 --> 00:50:50,800
Speaker 4: to be great at it. And that's when you really

1053
00:50:50,800 --> 00:50:53,320
Speaker 4: make money. That's that's how the money to make pleasure.

1054
00:50:53,320 --> 00:50:55,320
Speaker 2: And who's the best wrapper alive?

1055
00:50:56,320 --> 00:50:59,399
Speaker 4: The best rapper alive? It's not true, Pad, that's for sure.

1056
00:51:01,680 --> 00:51:04,359
Speaker 4: I'm a little wing guy. I know that, does you know?

1057
00:51:06,080 --> 00:51:06,239
Speaker 2: Yeah?

1058
00:51:06,520 --> 00:51:14,799
Speaker 4: The uproars like still my song? Yeah? So we who else?

1059
00:51:14,960 --> 00:51:15,279
Speaker 2: I like?

1060
00:51:15,600 --> 00:51:18,799
Speaker 4: I mean, like I'm still DMX. Like my all time

1061
00:51:18,840 --> 00:51:22,280
Speaker 4: favorite song is d m X fame. I saw DMX

1062
00:51:22,360 --> 00:51:24,640
Speaker 4: one time. Right, We're both at the club and I'm

1063
00:51:24,680 --> 00:51:27,919
Speaker 4: talking to him and he's like, dude, I'm my fan

1064
00:51:28,160 --> 00:51:31,319
Speaker 4: fan girling, right, dude, I love saying best song ever.

1065
00:51:31,400 --> 00:51:37,840
Speaker 4: He's like, don't hit me with that ship and that ship.

1066
00:51:39,400 --> 00:51:42,439
Speaker 2: Shout out to the dog. But Mark, thank you, thank

1067
00:51:42,480 --> 00:51:45,440
Speaker 2: you again, brother, and I appreciate it. Good luck on

1068
00:51:45,480 --> 00:51:50,000
Speaker 2: the season. You guys killing it. Luca, amazing, amazing talent.

1069
00:51:50,000 --> 00:51:52,000
Speaker 3: You gotta you got, you got, you got the next one.

1070
00:51:52,080 --> 00:51:54,759
Speaker 4: Yeah, you got coming back next week, so it's gonna

1071
00:51:54,760 --> 00:51:58,120
Speaker 4: get even better. Yeah, appreciate it, y'all.

1072
00:51:58,120 --> 00:52:00,279
Speaker 2: Take care of all right, no problem. Thank you.

1073
00:52:02,920 --> 00:52:08,160
Speaker 1: My graduates from my school being force back drop drop

1074
00:52:08,800 --> 00:52:27,880
Speaker 1: Mike dro bagdropft.

1075
00:52:21,719 --> 00:52:25,400
Speaker 6: An illegal alien from Guatemala charged with raping a child

1076
00:52:25,400 --> 00:52:29,200
Speaker 6: in Massachusetts. An MS thirteen gang member from Al Salvador

1077
00:52:29,440 --> 00:52:33,600
Speaker 6: accused of murdering a Texas. Man of Venezuelan charged with

1078
00:52:33,640 --> 00:52:37,560
Speaker 6: filming and selling child pornography in Michigan. These are just

1079
00:52:37,640 --> 00:52:41,400
Speaker 6: some of the heinous migrant criminals caught because of President

1080
00:52:41,440 --> 00:52:45,040
Speaker 6: Donald J. Trump's leadership. I'm Christy nom, the United States

1081
00:52:45,040 --> 00:52:49,840
Speaker 6: Secretary of Homeland Security. Under President Trump, attempted illegal border

1082
00:52:49,880 --> 00:52:53,439
Speaker 6: crossings are at the lowest levels ever recorded, and over

1083
00:52:53,480 --> 00:52:56,680
Speaker 6: one hundred thousand illegal aliens have been arrested. If you

1084
00:52:56,760 --> 00:53:00,640
Speaker 6: are here illegally, your next you will be find nearly

1085
00:53:00,719 --> 00:53:04,719
Speaker 6: one thousand dollars a day, imprisoned and deported. You will

1086
00:53:04,760 --> 00:53:08,399
Speaker 6: never return. But if you register using our CBP home

1087
00:53:08,440 --> 00:53:11,840
Speaker 6: app and leave now, you could be allowed to return legally.

1088
00:53:12,200 --> 00:53:16,920
Speaker 6: Do what's right, leave now. Under President Trump, America's laws,

1089
00:53:17,120 --> 00:53:19,560
Speaker 6: border and families will be protected.

1090
00:53:19,640 --> 00:53:21,800
Speaker 3: Sponsored by the United States Department of Homeland Security,