1 00:00:00,040 --> 00:00:03,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 2 00:00:03,680 --> 00:00:07,480 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 3 00:00:07,720 --> 00:00:11,840 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 4 00:00:11,920 --> 00:00:15,840 Speaker 1: filming and selling child pornography in Michigan. These are just 5 00:00:15,920 --> 00:00:19,680 Speaker 1: some of the heinous migrant criminals caught because of President 6 00:00:19,720 --> 00:00:23,320 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 7 00:00:23,320 --> 00:00:28,120 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 8 00:00:28,160 --> 00:00:31,680 Speaker 1: crossings are at the lowest levels ever recorded, and over 9 00:00:31,760 --> 00:00:34,960 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 10 00:00:35,040 --> 00:00:38,920 Speaker 1: are here illegally, your next you will be fined nearly 11 00:00:39,000 --> 00:00:43,000 Speaker 1: one thousand dollars a day, imprisoned, and deported. You will 12 00:00:43,040 --> 00:00:46,680 Speaker 1: never return. But if you register using our CBP home 13 00:00:46,720 --> 00:00:50,120 Speaker 1: app and leave now, you could be allowed to return legally. 14 00:00:50,479 --> 00:00:55,240 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 15 00:00:55,400 --> 00:00:57,840 Speaker 1: border and families will be protected. 16 00:00:57,920 --> 00:01:00,000 Speaker 2: Sponsored by the United States Department of Homeland Security. 17 00:01:00,160 --> 00:01:07,120 Speaker 3: Another stock related conversation, so ESPN has laid off twenty 18 00:01:07,240 --> 00:01:11,760 Speaker 3: on air personality They it was Valentine's Day massacre. 19 00:01:13,600 --> 00:01:17,480 Speaker 4: Jalen Rose shout childed Jalen he is now exactly at 20 00:01:17,520 --> 00:01:21,160 Speaker 4: the NBA p A announced today. 21 00:01:21,520 --> 00:01:25,559 Speaker 3: A lot of people lost their job Van Gundy, which 22 00:01:25,600 --> 00:01:27,240 Speaker 3: one Jeff Will Yeah. 23 00:01:27,080 --> 00:01:30,640 Speaker 4: Jeff, I think Jay Will still good, Keishawn and Max Killerman. 24 00:01:30,760 --> 00:01:33,320 Speaker 3: John Johnson, Max killer Man a bunch of people. I 25 00:01:33,319 --> 00:01:37,440 Speaker 3: thought Max had already lost Alice so the crazy so. 26 00:01:37,920 --> 00:01:39,440 Speaker 2: No, I shout out to Max. 27 00:01:39,480 --> 00:01:41,520 Speaker 3: I love Max bro I thought that he lost his 28 00:01:41,600 --> 00:01:45,399 Speaker 3: job already though every day too so ESPN. So they 29 00:01:45,480 --> 00:01:49,400 Speaker 3: laid twenty people, right, So all right, how did what 30 00:01:49,440 --> 00:01:52,080 Speaker 3: does this say for the future of podcasts and broadcasting? 31 00:01:52,120 --> 00:01:54,720 Speaker 3: And how does this impact Disney Stock because they haven't 32 00:01:54,760 --> 00:01:57,400 Speaker 3: they have that old CEO who's not a new CEO, 33 00:01:58,560 --> 00:02:03,880 Speaker 3: and so you know he's cutting. It's layoffs, layoffs, right, 34 00:02:03,920 --> 00:02:07,440 Speaker 3: you gotta you gotta, you know, cut cut the budget. 35 00:02:07,440 --> 00:02:10,760 Speaker 3: You gotta cut the budget in order to raise profitability. 36 00:02:11,360 --> 00:02:16,640 Speaker 3: So how is this going to impact the stock? And 37 00:02:16,800 --> 00:02:21,000 Speaker 3: also what does this say about the future of broadcasting 38 00:02:21,040 --> 00:02:24,160 Speaker 3: and podcasting? And once again shout out to Cameron and Mace. 39 00:02:24,600 --> 00:02:29,160 Speaker 3: Cam Ron spoke about this. Did you what I'm saying? 40 00:02:29,720 --> 00:02:32,560 Speaker 3: He pretty much said, how they're taking over the landscape 41 00:02:32,600 --> 00:02:36,240 Speaker 3: of sports reporting and this was a I'm paraphrasing, this 42 00:02:36,480 --> 00:02:40,200 Speaker 3: was a sign that it's a new day, which I 43 00:02:40,280 --> 00:02:42,440 Speaker 3: interpreted as, you know, this is a new new age 44 00:02:42,480 --> 00:02:47,760 Speaker 3: media shows like that, you know, they really are revolutionizing 45 00:02:47,840 --> 00:02:52,840 Speaker 3: sports reporting. Yeah, he's the pivot's a little different. The 46 00:02:52,880 --> 00:02:55,560 Speaker 3: pivot is more of an interview show. He's like real 47 00:02:55,600 --> 00:02:59,880 Speaker 3: time news reporting, which is actually a brilliant idea, and 48 00:03:01,280 --> 00:03:03,919 Speaker 3: we haven't really seen that happen and been successful. 49 00:03:04,919 --> 00:03:09,320 Speaker 4: We have, not from our coature. But I think you texted. 50 00:03:09,400 --> 00:03:11,600 Speaker 4: But the Pat McAfee s they have to make room for. 51 00:03:11,520 --> 00:03:14,680 Speaker 3: Pat from our culture and not from our culture, and 52 00:03:14,680 --> 00:03:16,640 Speaker 3: that's why it's like, it's brilliant for them, and I'm 53 00:03:16,639 --> 00:03:18,280 Speaker 3: glad you brought them up because a lot of credit 54 00:03:18,320 --> 00:03:18,720 Speaker 3: goes to them. 55 00:03:18,720 --> 00:03:20,079 Speaker 2: What he's saying is spot on. 56 00:03:21,240 --> 00:03:23,760 Speaker 4: If ESPN is looking at it from a standpoint, it 57 00:03:23,800 --> 00:03:27,160 Speaker 4: was like, let's find talent who's creating their own content 58 00:03:27,560 --> 00:03:30,280 Speaker 4: that is successful, and let's see how we can work 59 00:03:30,320 --> 00:03:32,840 Speaker 4: with them. Pat McAfee is a prime example of that, 60 00:03:33,200 --> 00:03:36,840 Speaker 4: rather than paying ordinary talent high salaries. He has an audience, 61 00:03:37,000 --> 00:03:39,720 Speaker 4: he has a following. They first start him out on 62 00:03:39,920 --> 00:03:42,240 Speaker 4: ESPN two with doing the Monday night Football, then he 63 00:03:42,320 --> 00:03:45,160 Speaker 4: becomes part of the college and a college analyst. And 64 00:03:45,200 --> 00:03:48,480 Speaker 4: then he gets a five year, eighty five million dollar deal. 65 00:03:49,000 --> 00:03:51,160 Speaker 4: Why because he brings an audience. 66 00:03:50,800 --> 00:03:55,120 Speaker 3: With him that that this is the market Monday thing. 67 00:03:55,760 --> 00:03:56,040 Speaker 2: Yep. 68 00:03:56,360 --> 00:03:59,480 Speaker 3: Shout out to Zenda walking in the background. Care in 69 00:03:59,520 --> 00:04:02,920 Speaker 3: the world, this is this is this is the market 70 00:04:02,960 --> 00:04:06,280 Speaker 3: This is the market Monday's play where you take traditional 71 00:04:06,360 --> 00:04:08,680 Speaker 3: type of you know, media news, but you're doing in 72 00:04:08,680 --> 00:04:12,800 Speaker 3: your own way, your own spend, and you report it 73 00:04:12,840 --> 00:04:16,280 Speaker 3: and you you know, and now revolutionize the whole marketplace. 74 00:04:16,320 --> 00:04:20,080 Speaker 3: So shout out to Camon Mats for doing that. But yeah, 75 00:04:20,080 --> 00:04:21,839 Speaker 3: all right, so what does this mean for the space 76 00:04:21,880 --> 00:04:23,640 Speaker 3: and how's it going to affect disney Stock. 77 00:04:24,320 --> 00:04:27,520 Speaker 5: Podcasting is about to go probably through a three or 78 00:04:27,520 --> 00:04:30,680 Speaker 5: four year period of not being as popular as it 79 00:04:30,920 --> 00:04:33,719 Speaker 5: was three years prior. I don't want to say podcasts 80 00:04:33,720 --> 00:04:36,679 Speaker 5: in instead, but we are going through like the nineteen 81 00:04:36,720 --> 00:04:39,280 Speaker 5: eighties version of rap is the version of podcasts we're 82 00:04:39,320 --> 00:04:42,000 Speaker 5: in now. There's too many people talking about and I 83 00:04:42,040 --> 00:04:45,360 Speaker 5: asked it sixty four times for this reason to tell 84 00:04:45,400 --> 00:04:47,599 Speaker 5: people there's not a lot of money in podcasting unless 85 00:04:47,600 --> 00:04:50,720 Speaker 5: you are unique. I went on Joe Budden, not Charlotte Mane. 86 00:04:50,760 --> 00:04:53,039 Speaker 5: I actually, how many people make a million dollars of podcasting? 87 00:04:54,400 --> 00:04:57,680 Speaker 5: Not many? Why because everybody's talking about the same thing. 88 00:04:57,920 --> 00:05:00,400 Speaker 5: Academics loans, Charlotta Magne, Joe, I'll I want you all 89 00:05:00,400 --> 00:05:02,000 Speaker 5: to get along at some point. I know y'all not, 90 00:05:02,240 --> 00:05:04,039 Speaker 5: but I would love for y'all to get along. There's 91 00:05:04,080 --> 00:05:05,679 Speaker 5: too much money out here for us to be beefing. 92 00:05:06,040 --> 00:05:08,560 Speaker 5: But guess what when everyone talks about the same thing, 93 00:05:08,560 --> 00:05:11,560 Speaker 5: there's no really any room for growth the ESPN thing. 94 00:05:12,040 --> 00:05:17,120 Speaker 5: A lot of them will fire footing, but ESPN stopped innovating. 95 00:05:17,200 --> 00:05:21,200 Speaker 5: Disney Stock has a ton of issues. Capital expenditures are 96 00:05:21,240 --> 00:05:23,359 Speaker 5: way too high. I said it earlier. I think disney 97 00:05:23,360 --> 00:05:26,320 Speaker 5: Stock will go underneath eighty. If Disney ever got to 98 00:05:26,400 --> 00:05:28,440 Speaker 5: like sixty dollars and thirty nine cent, I would want 99 00:05:28,440 --> 00:05:29,840 Speaker 5: to buy it there. I will ride back up to 100 00:05:29,960 --> 00:05:34,039 Speaker 5: one two and a half years later. But Disney has 101 00:05:34,120 --> 00:05:36,719 Speaker 5: lost its edge. And let's be very honest, I don't 102 00:05:36,720 --> 00:05:39,680 Speaker 5: know the last time I proactively watch anything on ESPN 103 00:05:40,200 --> 00:05:41,640 Speaker 5: for two and a half or three hours in the 104 00:05:41,720 --> 00:05:42,920 Speaker 5: last five years, I haven't. 105 00:05:43,080 --> 00:05:47,320 Speaker 3: Well, it's a bad business model, dude. Television television. Here's 106 00:05:47,360 --> 00:05:49,960 Speaker 3: why I don't necessarily. I hate the word podcast, so 107 00:05:50,000 --> 00:05:52,800 Speaker 3: I never use it. I agree, but I will use 108 00:05:52,839 --> 00:05:55,599 Speaker 3: it just for this sake of just using it. But 109 00:05:55,680 --> 00:05:59,880 Speaker 3: I don't like the word podcast. It's very disrespectful. Yeah, 110 00:06:00,080 --> 00:06:06,719 Speaker 3: it devalues the whole situation. So the business model of 111 00:06:06,839 --> 00:06:11,160 Speaker 3: television is an outdated model, and it costs too much money. 112 00:06:11,160 --> 00:06:12,960 Speaker 3: It costs a lot of money to produce these shows. 113 00:06:13,120 --> 00:06:14,719 Speaker 3: It costs a lot of money to pay the talent, 114 00:06:15,120 --> 00:06:18,599 Speaker 3: and you got the lighting crew, and you got you know, lunch, 115 00:06:18,680 --> 00:06:20,719 Speaker 3: and you got the makeup artists, and you you know, 116 00:06:20,720 --> 00:06:24,160 Speaker 3: you're spending millions and millions of dollars and and you're 117 00:06:24,200 --> 00:06:29,240 Speaker 3: relying on corporate to pay for ads. But you know, 118 00:06:29,360 --> 00:06:32,480 Speaker 3: it's it's it's not it's just not sustainable. So now 119 00:06:32,520 --> 00:06:37,080 Speaker 3: when you can, when you can do low costing content 120 00:06:37,520 --> 00:06:39,719 Speaker 3: like what we do, this is this. This is low 121 00:06:39,839 --> 00:06:44,760 Speaker 3: cost content, low cost content. So there's a lot of 122 00:06:44,920 --> 00:06:49,880 Speaker 3: upside to it. Now the corporate has to catch up 123 00:06:50,240 --> 00:06:54,520 Speaker 3: and they have to apply more. I actually think that 124 00:06:54,680 --> 00:06:58,200 Speaker 3: the podcasting space is going to be more lucrative because 125 00:06:58,200 --> 00:07:01,600 Speaker 3: I think that the vast majority of shows will just 126 00:07:01,720 --> 00:07:05,120 Speaker 3: kind of fall off because you know, they're just nobody's 127 00:07:05,120 --> 00:07:07,400 Speaker 3: gonna watch them and they're just you know, repetitive. But 128 00:07:07,440 --> 00:07:10,880 Speaker 3: the few shows that are successful, the audience is going 129 00:07:10,960 --> 00:07:14,240 Speaker 3: to become bigger and bigger and bigger, and less money 130 00:07:14,240 --> 00:07:18,320 Speaker 3: from corporate will go to traditional media and more money 131 00:07:18,360 --> 00:07:23,560 Speaker 3: from corporate will go to non traditional media like podcasts. 132 00:07:24,840 --> 00:07:28,840 Speaker 3: So that's my theory. I think that there will be 133 00:07:29,280 --> 00:07:35,680 Speaker 3: more money being spent in corporate with podcasters over the 134 00:07:35,720 --> 00:07:40,800 Speaker 3: next five to ten years, and more and more non 135 00:07:40,840 --> 00:07:44,120 Speaker 3: traditional type of programming will come. You even see Shanta Sharp, 136 00:07:44,160 --> 00:07:46,480 Speaker 3: he started he started a podcast like and like I said, 137 00:07:46,560 --> 00:07:49,280 Speaker 3: I don't want to use that. He started an independent show. 138 00:07:49,360 --> 00:07:51,920 Speaker 3: Let's just say that he started an independent show, right, 139 00:07:52,280 --> 00:07:56,000 Speaker 3: and he's gonna do really well with that. Yeah, Club 140 00:07:56,000 --> 00:07:59,080 Speaker 3: Sha shot. 141 00:07:57,800 --> 00:07:58,560 Speaker 5: Right with one. 142 00:08:01,240 --> 00:08:04,680 Speaker 2: I don't know if it's at best one they financed it? 143 00:08:04,840 --> 00:08:08,360 Speaker 3: No? No, he oh the club they find it? Are 144 00:08:08,400 --> 00:08:12,880 Speaker 3: you sure about that? I'll put some money up, Okay? Well, 145 00:08:13,000 --> 00:08:16,520 Speaker 3: either either way, I think that you're gonna steal. You're 146 00:08:16,560 --> 00:08:18,040 Speaker 3: gonna start seeing a lot more of that. 147 00:08:20,360 --> 00:08:22,600 Speaker 4: This episode is brought to you by P and C Bank. 148 00:08:23,000 --> 00:08:25,760 Speaker 4: A lot of people think podcasts about work are boring, 149 00:08:25,960 --> 00:08:29,840 Speaker 4: and sure, they definitely can be but understanding of professionals 150 00:08:29,920 --> 00:08:33,160 Speaker 4: routine shows us how they achieve their success, little by little, 151 00:08:33,520 --> 00:08:37,200 Speaker 4: day after day. It's like banking with P and C Bank. 152 00:08:37,640 --> 00:08:40,479 Speaker 4: It might seem boring to safe plan and make calculated 153 00:08:40,480 --> 00:08:43,600 Speaker 4: decisions with your bank, but keeping your money boring is 154 00:08:43,600 --> 00:08:46,960 Speaker 4: what helps you live or more happily fulfilled life. 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An MS thirteen gang member from Al Salvador 180 00:10:18,360 --> 00:10:22,480 Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with 181 00:10:22,559 --> 00:10:26,439 Speaker 1: filming and selling child pornography in Michigan. These are just 182 00:10:26,559 --> 00:10:30,319 Speaker 1: some of the heinous migrant criminals caught because of President 183 00:10:30,360 --> 00:10:33,880 Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States 184 00:10:33,960 --> 00:10:38,760 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 185 00:10:38,800 --> 00:10:42,320 Speaker 1: crossings are at the lowest levels ever recorded, and over 186 00:10:42,400 --> 00:10:45,600 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 187 00:10:45,679 --> 00:10:49,520 Speaker 1: are here illegally, your next you will be fined. Nearly 188 00:10:49,640 --> 00:10:53,640 Speaker 1: one thousand dollars a day. Imprisoned and deported, you will 189 00:10:53,679 --> 00:10:57,320 Speaker 1: never return. But if you register using our CBP home 190 00:10:57,360 --> 00:11:00,000 Speaker 1: app and leave now, you could be allowed to reach 191 00:11:00,080 --> 00:11:04,720 Speaker 1: turn legally do what's right. Leave now. Under President Trump 192 00:11:04,880 --> 00:11:07,960 Speaker 1: America's laws, border and families will. 193 00:11:07,840 --> 00:11:10,720 Speaker 2: Be protected sponsored by the United States Department of Homeland Security. 194 00:11:10,880 --> 00:11:14,920 Speaker 3: Because it's just not sustainable the business model. Less and 195 00:11:15,000 --> 00:11:18,720 Speaker 3: less people are watching TV and the money is not 196 00:11:18,760 --> 00:11:20,320 Speaker 3: there anymore. 197 00:11:21,160 --> 00:11:24,600 Speaker 5: Yeah, I think Disney has a broken We're not broken. 198 00:11:25,160 --> 00:11:28,760 Speaker 5: The business model that they were using last century, well, 199 00:11:28,840 --> 00:11:31,800 Speaker 5: last generation has to evolve and it hasn't evolved fast 200 00:11:31,920 --> 00:11:34,320 Speaker 5: enough to catch up with the demands of the consumer base. 201 00:11:34,640 --> 00:11:37,679 Speaker 5: Now app great, but at some point they have to 202 00:11:37,880 --> 00:11:42,559 Speaker 5: address I think the capital expenditures, of course are way 203 00:11:42,559 --> 00:11:45,360 Speaker 5: too high on the employee side of ESPN, but also 204 00:11:45,360 --> 00:11:47,280 Speaker 5: on that real estate side. They're gonna have to figure 205 00:11:47,280 --> 00:11:49,800 Speaker 5: out at what point one of those parks they are going 206 00:11:49,840 --> 00:11:53,679 Speaker 5: to have to let go of that costs are too cumbersome. 207 00:11:54,040 --> 00:11:57,000 Speaker 4: Because I'm a and everybody knows if y'all watch Walk, 208 00:11:57,200 --> 00:12:01,959 Speaker 4: I'm a Disney shareholder. And streaming was great, the numbers 209 00:12:01,960 --> 00:12:04,400 Speaker 4: are great. It has slowed down. They have to figure 210 00:12:04,440 --> 00:12:07,079 Speaker 4: out how to make this profitable. And we've talked to 211 00:12:07,080 --> 00:12:08,840 Speaker 4: a lot of people in the industry and they're like, look, 212 00:12:08,880 --> 00:12:13,720 Speaker 4: streaming services, it's a bad business model, and nobody wants 213 00:12:13,760 --> 00:12:15,679 Speaker 4: to say it because everybody thinks they're going to make 214 00:12:15,720 --> 00:12:18,360 Speaker 4: money inside of it because the things that you just 215 00:12:18,400 --> 00:12:20,800 Speaker 4: alluded to, shaty, where the amount of money that you're 216 00:12:20,800 --> 00:12:24,360 Speaker 4: paying to get the content, to pay the staff, it's 217 00:12:24,400 --> 00:12:28,120 Speaker 4: a lot, right with the returns are unguaranteed. On top 218 00:12:28,200 --> 00:12:31,960 Speaker 4: of it, Disney they have I mean Hulu that is 219 00:12:32,280 --> 00:12:34,080 Speaker 4: you know, that's been okay for them, but they have 220 00:12:34,440 --> 00:12:36,440 Speaker 4: a problem that they have to address before the end 221 00:12:36,440 --> 00:12:39,560 Speaker 4: of the year, and that's having outstanding rights to Hulu 222 00:12:39,679 --> 00:12:41,600 Speaker 4: right Comcast owns a percentage of it, so they got 223 00:12:41,640 --> 00:12:42,880 Speaker 4: to figure out what they're going to do with it. 224 00:12:43,160 --> 00:12:45,319 Speaker 4: The other part is, yes, Bob Iger has done a 225 00:12:45,320 --> 00:12:48,000 Speaker 4: great job with the company and they have to bring 226 00:12:48,080 --> 00:12:52,240 Speaker 4: them back, but what is the succession. We haven't heard 227 00:12:52,280 --> 00:12:55,160 Speaker 4: it yet. And that's concerning, right because when we talk 228 00:12:55,200 --> 00:12:57,640 Speaker 4: about and we said this during the live show, is 229 00:12:57,720 --> 00:13:02,440 Speaker 4: like who's the leadership yep, Like it's an uncertainty around it. 230 00:13:02,520 --> 00:13:04,560 Speaker 4: So even as a shareholder, it's like Yeah, we believed 231 00:13:04,559 --> 00:13:07,440 Speaker 4: in Bob's vision and I like the path of it. 232 00:13:07,480 --> 00:13:09,680 Speaker 4: But now like he's here for an interm and who 233 00:13:09,800 --> 00:13:12,840 Speaker 4: is the successor? Does that get announced within the next 234 00:13:12,880 --> 00:13:14,760 Speaker 4: six months? You close it out because we know his 235 00:13:14,880 --> 00:13:16,640 Speaker 4: term is only going to be two years and we're 236 00:13:16,640 --> 00:13:18,679 Speaker 4: already six to eight months into that. 237 00:13:18,800 --> 00:13:20,640 Speaker 2: So that's an issue that. 238 00:13:20,600 --> 00:13:22,800 Speaker 4: Needs to be addressed. But I'm still a shareholder of it, 239 00:13:22,920 --> 00:13:27,800 Speaker 4: but I believe I'm with you Ian. The expenditures on 240 00:13:27,920 --> 00:13:31,600 Speaker 4: top of and it's unfortunate that people have their jobs cut. 241 00:13:31,679 --> 00:13:31,839 Speaker 2: Right. 242 00:13:31,880 --> 00:13:35,360 Speaker 4: The ESPN layups are because they're notable names, but there 243 00:13:35,360 --> 00:13:37,280 Speaker 4: were seven thousand people that got laid off earlier in 244 00:13:37,320 --> 00:13:39,120 Speaker 4: the year that we don't know their names, and those 245 00:13:39,120 --> 00:13:42,080 Speaker 4: people don't have a job with the company anymore. So 246 00:13:42,559 --> 00:13:45,000 Speaker 4: layoups are happening, and this is one way that people 247 00:13:45,320 --> 00:13:48,120 Speaker 4: and companies they do. It's a necessary cost for them 248 00:13:48,160 --> 00:13:51,120 Speaker 4: to say, all right, how do we get more revenue? Well, 249 00:13:51,120 --> 00:13:54,559 Speaker 4: we're going to have to start cutting payroll. And it's unfortunate, 250 00:13:54,760 --> 00:13:55,959 Speaker 4: which only lasts so long. 251 00:13:56,240 --> 00:13:59,679 Speaker 5: Disney's pee ratio at the end of twenty twenty one 252 00:13:59,760 --> 00:14:02,160 Speaker 5: was now on its currently a thirty nine pe Racio's 253 00:14:02,200 --> 00:14:04,760 Speaker 5: technically still too high, even though it's a mix of 254 00:14:04,840 --> 00:14:07,320 Speaker 5: tech and commercial real estate. The pee racial to be 255 00:14:07,320 --> 00:14:09,840 Speaker 5: in a safe range should be like around twenty two. 256 00:14:10,640 --> 00:14:12,200 Speaker 5: It has a little bit more to come down. But 257 00:14:12,280 --> 00:14:14,360 Speaker 5: I mean, Bob is a great CEO. I love him dearly, 258 00:14:14,679 --> 00:14:16,959 Speaker 5: but like you said, like I don't, he's going to 259 00:14:17,000 --> 00:14:20,480 Speaker 5: have to extend that tenure because I don't know any 260 00:14:20,560 --> 00:14:22,960 Speaker 5: viable And that's another thing, like when we had all 261 00:14:22,960 --> 00:14:24,920 Speaker 5: these CEOs, remember when I told everyone tried at the 262 00:14:24,960 --> 00:14:27,600 Speaker 5: red Panda. Look at how many CEOs began to take 263 00:14:27,600 --> 00:14:30,400 Speaker 5: that golden parachute. That's how you know when times are 264 00:14:30,400 --> 00:14:33,640 Speaker 5: getting bad. Just like we don't have an incredible, viable, 265 00:14:33,680 --> 00:14:37,080 Speaker 5: incredibly viable presidential candidate, we don't have a bunch of 266 00:14:37,120 --> 00:14:42,720 Speaker 5: CEOs like the farm system for the next brilliant CEOs. 267 00:14:43,160 --> 00:14:46,960 Speaker 5: They are not there. And that's many companies like after 268 00:14:47,000 --> 00:14:51,640 Speaker 5: these this class of CEOs begins to retire, there aren't 269 00:14:51,680 --> 00:14:54,400 Speaker 5: a bunch of amazing CEOs and the wings that are 270 00:14:54,400 --> 00:14:56,240 Speaker 5: providing a ton of innovation. And that's why, like the 271 00:14:56,280 --> 00:15:00,840 Speaker 5: alpha on Elon, as crazy as he may be, even 272 00:15:00,880 --> 00:15:02,480 Speaker 5: with the thing that he did with Twitter this weekend, 273 00:15:02,640 --> 00:15:04,280 Speaker 5: which I think is really a non factor in. 274 00:15:04,280 --> 00:15:05,479 Speaker 2: The long term. 275 00:15:05,960 --> 00:15:09,000 Speaker 5: That's why he that stock produces a lot more alpha 276 00:15:09,080 --> 00:15:11,760 Speaker 5: in comparison to Forward, because he does have some genius 277 00:15:11,760 --> 00:15:14,440 Speaker 5: and ingenuity, et cetera. But there are not a lot 278 00:15:14,440 --> 00:15:18,160 Speaker 5: of great CEOs at this time that are leading best companies. 279 00:15:18,440 --> 00:15:20,720 Speaker 5: I wonder what the thoughts are, and Ray Rodrige has 280 00:15:20,760 --> 00:15:22,160 Speaker 5: kind of read my mind here. 281 00:15:22,520 --> 00:15:25,120 Speaker 4: Our thoughts are on Adam Silver. There's been you know, 282 00:15:25,120 --> 00:15:28,160 Speaker 4: the Commission of the NBA talks to him being a 283 00:15:28,240 --> 00:15:30,520 Speaker 4: part of that succession plan and being the next CEO 284 00:15:30,640 --> 00:15:35,240 Speaker 4: of Disney. It's interesting because at All Star Game in Utah, 285 00:15:35,760 --> 00:15:39,320 Speaker 4: one of the keynotes was by Viger and most people 286 00:15:39,320 --> 00:15:41,880 Speaker 4: are like, well, why is the CEO of Disney here? Well, 287 00:15:42,040 --> 00:15:46,360 Speaker 4: if you look at the network that hosts the finals ABT, 288 00:15:46,640 --> 00:15:49,680 Speaker 4: it's probably under the property of Disney, so it makes sense. 289 00:15:49,720 --> 00:15:54,080 Speaker 4: But their relationship there might foster a succession plan. What 290 00:15:54,320 --> 00:15:57,600 Speaker 4: are your thoughts on maybe Adam Silver? I think a 291 00:15:57,640 --> 00:16:00,360 Speaker 4: good CEO. I think they need a stronger manager team. 292 00:16:00,400 --> 00:16:02,480 Speaker 4: But I wouldn't be mad at him. We talked about 293 00:16:02,480 --> 00:16:03,920 Speaker 4: this a couple of months ago. I wouldn't be mad 294 00:16:03,920 --> 00:16:06,880 Speaker 4: at him for leaving for that position. I would like 295 00:16:06,920 --> 00:16:09,600 Speaker 4: to see what his like five year plan or his 296 00:16:09,680 --> 00:16:11,880 Speaker 4: vision is for if he takes it over. It's clearly 297 00:16:11,880 --> 00:16:14,200 Speaker 4: got to take it in a different direction. But Adam 298 00:16:14,240 --> 00:16:17,120 Speaker 4: seems to be very level headed and also, like the player, 299 00:16:17,240 --> 00:16:20,160 Speaker 4: seemed to be favorable amongst him, which is a sign 300 00:16:20,280 --> 00:16:22,960 Speaker 4: that he will probably probably would be able to get 301 00:16:22,960 --> 00:16:25,280 Speaker 4: along with the employees very well. It seems like a 302 00:16:25,360 --> 00:16:28,120 Speaker 4: very open door type CEO, so I think it could work. 303 00:16:28,160 --> 00:16:30,520 Speaker 4: But outside of that, I don't see many people who 304 00:16:30,520 --> 00:16:32,360 Speaker 4: could run that media company right now and turn it 305 00:16:32,400 --> 00:16:34,920 Speaker 4: around in profitability too. Right, The NBA, if you look 306 00:16:34,920 --> 00:16:37,320 Speaker 4: at during his tenure, has been more profitable than it was. 307 00:16:37,320 --> 00:16:39,560 Speaker 2: Before he had it. Yep, he's always a great. 308 00:16:39,440 --> 00:16:42,120 Speaker 5: High speaking of profitability. 309 00:16:42,120 --> 00:16:43,480 Speaker 2: Can we talk about crypto. 310 00:16:44,000 --> 00:16:46,280 Speaker 3: For sure, But before we do that, let's make sure 311 00:16:46,320 --> 00:16:53,800 Speaker 3: they hit the like button yes and share Baltimore we 312 00:16:53,880 --> 00:16:56,520 Speaker 3: will be I'm coming home. I used to live in Baltimore, 313 00:16:57,760 --> 00:17:00,880 Speaker 3: so we are this Saturday. We're speaking at the Wealth 314 00:17:00,920 --> 00:17:04,879 Speaker 3: Summit Live. Go to Ravenparis dot com Wealth Summit Live 315 00:17:05,280 --> 00:17:07,360 Speaker 3: and get your tickets. It's our first time ever doing 316 00:17:07,400 --> 00:17:11,520 Speaker 3: anything in Baltimore, so looking forward, looking forward to it. Man. 317 00:17:11,800 --> 00:17:14,600 Speaker 3: But the Disney thing is just you know, the last 318 00:17:14,600 --> 00:17:17,639 Speaker 3: thing is just they built a very impressive company over 319 00:17:17,680 --> 00:17:23,639 Speaker 3: the course of time with you know, Marvel, with Hulu, 320 00:17:23,760 --> 00:17:28,520 Speaker 3: with Disney Plus, with ESPN, with ABC, with so many 321 00:17:28,600 --> 00:17:30,800 Speaker 3: different things. And that's you know, on a business like 322 00:17:30,840 --> 00:17:33,160 Speaker 3: when you're looking at business at the highest level, that's 323 00:17:33,160 --> 00:17:36,520 Speaker 3: what it's about, just like acquiring different things, having your 324 00:17:36,560 --> 00:17:40,439 Speaker 3: hat in a variety of other things. Like that's something 325 00:17:40,480 --> 00:17:45,800 Speaker 3: that whether no matter how you feel about Disney, I 326 00:17:45,840 --> 00:17:48,440 Speaker 3: think that they built one of the most impressive companies 327 00:17:48,800 --> 00:17:51,479 Speaker 3: in the history of the world. And I guess that's 328 00:17:51,520 --> 00:17:54,879 Speaker 3: why Kanye has always compared himself to Walt Disney. He 329 00:17:55,000 --> 00:18:01,040 Speaker 3: really has a strong admiration for him and the company 330 00:18:01,040 --> 00:18:03,719 Speaker 3: that they have built. But it'll be interesting to see 331 00:18:04,040 --> 00:18:08,080 Speaker 3: with the next twenty fifty years for Disney. 332 00:18:08,400 --> 00:18:14,880 Speaker 6: Holes my graduates from my school being force back drop 333 00:18:15,520 --> 00:18:19,600 Speaker 6: bag drop, Mike drop backdrop droft. 334 00:18:29,600 --> 00:18:33,280 Speaker 1: An illegal alien from Guatemala charged with raping a child 335 00:18:33,280 --> 00:18:37,080 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 336 00:18:37,320 --> 00:18:41,480 Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with 337 00:18:41,520 --> 00:18:45,439 Speaker 1: filming and selling child pornography in Michigan, These are just 338 00:18:45,520 --> 00:18:49,280 Speaker 1: some of the heinous migrant criminals caught because of President 339 00:18:49,320 --> 00:18:52,919 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 340 00:18:52,920 --> 00:18:57,720 Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border 341 00:18:57,760 --> 00:19:01,280 Speaker 1: crossings are at the lowest levels ever recorded, and over 342 00:19:01,359 --> 00:19:04,600 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 343 00:19:04,640 --> 00:19:08,520 Speaker 1: are here illegally, your next you will be fine nearly 344 00:19:08,600 --> 00:19:12,600 Speaker 1: one thousand dollars a day, imprisoned, and deported, you will 345 00:19:12,640 --> 00:19:16,280 Speaker 1: never return. But if you register using our CBP home 346 00:19:16,320 --> 00:19:19,720 Speaker 1: app and leave now, you could be allowed to return legally. 347 00:19:20,080 --> 00:19:24,800 Speaker 1: Do what's right. Leave now. Under President Trump, America's laws, 348 00:19:25,000 --> 00:19:26,959 Speaker 1: border and families. 349 00:19:26,600 --> 00:19:29,040 Speaker 2: Will be protected. Sponsored by the United States Department of 350 00:19:29,040 --> 00:19:29,680 Speaker 2: Homeland Security.