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 00:01:00,200 --> 00:01:02,200 Speaker 3: The first thing that we have to talk about is 18 00:01:02,240 --> 00:01:06,160 Speaker 3: the biggest thing that has happened last week, Silicon Valley 19 00:01:06,440 --> 00:01:11,160 Speaker 3: Bank collapsed. We'll give some some preference on this, but 20 00:01:11,720 --> 00:01:15,280 Speaker 3: this is the second bank to collapse in a week, 21 00:01:17,640 --> 00:01:24,160 Speaker 3: one of the biggest bank crisises in American history. Yep, 22 00:01:24,240 --> 00:01:26,119 Speaker 3: and this was the biggest bank to fail since two 23 00:01:26,160 --> 00:01:29,600 Speaker 3: thousand and eight. What pretty much caused it, at a 24 00:01:29,680 --> 00:01:34,160 Speaker 3: very high level explanation is they didn't have enough money, 25 00:01:34,520 --> 00:01:37,720 Speaker 3: so they over leveraged themselves. You know, when when the 26 00:01:37,760 --> 00:01:41,600 Speaker 3: Fed raised interest rates, they were invested in bonds and 27 00:01:41,640 --> 00:01:44,360 Speaker 3: mortgage backed securities that didn't work out for them, actually 28 00:01:44,400 --> 00:01:48,320 Speaker 3: lost money, and they announced that they needed two billion 29 00:01:48,360 --> 00:01:51,240 Speaker 3: dollars to remain solvent. When they announced that they needed 30 00:01:51,240 --> 00:01:54,200 Speaker 3: two billion dollars to remain solvent, there was a rush 31 00:01:54,240 --> 00:01:57,440 Speaker 3: on the bank. Obviously, people were scared, like money, my money. 32 00:01:58,560 --> 00:02:02,120 Speaker 3: They didn't have enough, so then the fdi C has 33 00:02:02,160 --> 00:02:05,040 Speaker 3: to step in, and now they're working through that. They 34 00:02:05,040 --> 00:02:07,760 Speaker 3: said that everybody that has was fdi C insured will 35 00:02:07,800 --> 00:02:11,240 Speaker 3: have their money, well had their money today, and then 36 00:02:11,280 --> 00:02:14,520 Speaker 3: everybody else they're working on within the next week. So 37 00:02:14,600 --> 00:02:16,040 Speaker 3: it was a very in this bank. A lot of 38 00:02:16,040 --> 00:02:17,480 Speaker 3: people have not heard of, but it's one of the 39 00:02:17,480 --> 00:02:19,840 Speaker 3: biggest banks in America eight I think it's eighteenth biggest 40 00:02:19,840 --> 00:02:23,000 Speaker 3: bank in America or something like that around that. So 41 00:02:23,280 --> 00:02:26,640 Speaker 3: it was geared towards Silicon Valley, right, it was geared 42 00:02:26,720 --> 00:02:29,920 Speaker 3: towards startup companies and benture capital firms, and these are 43 00:02:29,960 --> 00:02:32,919 Speaker 3: the places where these guys went to borrow money and 44 00:02:33,520 --> 00:02:36,000 Speaker 3: to get capital from. So it's not like a regular 45 00:02:36,040 --> 00:02:37,760 Speaker 3: bank where you just go in like Chase Bank and 46 00:02:37,800 --> 00:02:39,880 Speaker 3: you just put one hundred dollars and open an account. 47 00:02:40,880 --> 00:02:43,200 Speaker 3: But you know, it's it's one of these things that 48 00:02:43,200 --> 00:02:48,360 Speaker 3: that was disturbing and the causes you know, eyebrowns every raised. 49 00:02:48,400 --> 00:02:51,760 Speaker 3: So yes, so all right, so what's the impact on 50 00:02:51,840 --> 00:02:54,080 Speaker 3: this going forward? What's the impact on the stock mar 51 00:02:54,080 --> 00:02:56,639 Speaker 3: because all the bank stocks lost money as a as 52 00:02:56,680 --> 00:02:59,079 Speaker 3: a result of this, so it was like a ripple effect. 53 00:02:59,160 --> 00:03:02,760 Speaker 3: So what's the take on this SVB situation? 54 00:03:03,080 --> 00:03:04,760 Speaker 4: We I talked about it at the live show. But 55 00:03:05,040 --> 00:03:07,840 Speaker 4: risk to reward means everything. So if I came to 56 00:03:07,880 --> 00:03:10,720 Speaker 4: anyone and said, hey, I'm going to loan out money 57 00:03:10,840 --> 00:03:13,600 Speaker 4: to start up companies that have between one hundred one 58 00:03:13,639 --> 00:03:17,120 Speaker 4: to one hundred employees, the net margin is anywhere from 59 00:03:17,160 --> 00:03:20,000 Speaker 4: three percent to fifteen percent, and I'm going to try 60 00:03:20,000 --> 00:03:22,640 Speaker 4: and offset it by investing in bonds and mortgage backed securities. 61 00:03:23,440 --> 00:03:26,120 Speaker 4: Instant fail like this is the worst business plan ever 62 00:03:27,000 --> 00:03:30,200 Speaker 4: and they're over capitalized. We'll talk about it later, but 63 00:03:30,240 --> 00:03:32,799 Speaker 4: I think the ANGEL and VC environment has to change 64 00:03:32,840 --> 00:03:35,680 Speaker 4: dramatically because they're funding all of these companies. 65 00:03:36,600 --> 00:03:38,480 Speaker 5: Think about I mean just want to add to you 66 00:03:38,520 --> 00:03:40,360 Speaker 5: what you're saying for because that's a great point when 67 00:03:40,360 --> 00:03:42,640 Speaker 5: we think about the time period of when these loans 68 00:03:42,680 --> 00:03:43,320 Speaker 5: are taking place. 69 00:03:43,400 --> 00:03:44,960 Speaker 2: Yeah, low interest. 70 00:03:44,800 --> 00:03:47,760 Speaker 5: Rates, right, so hero right, we're talking about the lowest 71 00:03:47,760 --> 00:03:50,760 Speaker 5: interest rates. And if we've watched the market, right, we've 72 00:03:50,760 --> 00:03:54,800 Speaker 5: seen what interest rates being raised has done to tech companies. Right, 73 00:03:54,920 --> 00:03:57,360 Speaker 5: So think about now when you have low interest rates 74 00:03:57,400 --> 00:03:59,320 Speaker 5: and you're giving loans to tech companies, when of those 75 00:03:59,360 --> 00:04:02,520 Speaker 5: interest rates rights, there's going to be an inverse effect. 76 00:04:02,520 --> 00:04:03,320 Speaker 2: I started losing, right. 77 00:04:03,360 --> 00:04:05,760 Speaker 5: So like the pandemic, we saw all these startups, right, 78 00:04:05,760 --> 00:04:07,920 Speaker 5: we saw all these these companies IPO, we saw a 79 00:04:07,920 --> 00:04:12,440 Speaker 5: bunch of SPACs. Pandemic is over in the past. Yeah, 80 00:04:12,640 --> 00:04:16,320 Speaker 5: interest rates have risen. Now it's not you're starting to 81 00:04:16,360 --> 00:04:19,120 Speaker 5: see these these these effects. Obviously we see it from companies, 82 00:04:19,120 --> 00:04:20,640 Speaker 5: but now you see it from a bank. It's like yo, 83 00:04:21,160 --> 00:04:24,880 Speaker 5: here it comes right. These are delayed reactions to some 84 00:04:24,920 --> 00:04:26,880 Speaker 5: of these decisions like the Federick getting raised. It's like, oh, 85 00:04:26,880 --> 00:04:29,839 Speaker 5: it sounds great. Always a quarter point, always, three quarters 86 00:04:29,880 --> 00:04:32,400 Speaker 5: of a point always. I mean it's like after a while, 87 00:04:32,400 --> 00:04:34,680 Speaker 5: it's like, wait, what is the long term effect? 88 00:04:35,040 --> 00:04:37,000 Speaker 2: Chris? We don't see it in the short term. 89 00:04:37,480 --> 00:04:39,719 Speaker 4: I mean, and they're swooping under the rug. I said it, 90 00:04:39,760 --> 00:04:42,120 Speaker 4: but I think it's interesting. They announced this news the 91 00:04:42,160 --> 00:04:46,200 Speaker 4: weekend of the oscars. So now you see Brad Pitt 92 00:04:46,200 --> 00:04:49,400 Speaker 4: hopefully you know nobody gets slapped on stage, right. They're 93 00:04:49,400 --> 00:04:51,520 Speaker 4: going to recover it again on Monday about what happened. 94 00:04:51,520 --> 00:04:53,120 Speaker 4: But so you're kind of swooping it under the rug 95 00:04:53,440 --> 00:04:57,240 Speaker 4: to soften the blow post announcing midweek or Friday morning. 96 00:04:58,160 --> 00:05:00,839 Speaker 4: Then on top of that, yelling ha announced that the 97 00:05:00,880 --> 00:05:04,520 Speaker 4: government is not going to build the bank out. Oh 98 00:05:04,560 --> 00:05:06,560 Speaker 4: so the long term effects is like a lot of 99 00:05:06,560 --> 00:05:08,240 Speaker 4: banks are going to go under any it sets up 100 00:05:08,240 --> 00:05:11,520 Speaker 4: for JP, Morgan, Bank of America, the Big four to 101 00:05:11,560 --> 00:05:12,840 Speaker 4: become even bigger. 102 00:05:12,960 --> 00:05:16,039 Speaker 5: Right, because you think in terms of like, yeah, there's 103 00:05:16,120 --> 00:05:19,120 Speaker 5: money there people who are insured, but you're going about 104 00:05:19,160 --> 00:05:20,320 Speaker 5: to lose all those customers. 105 00:05:20,400 --> 00:05:22,560 Speaker 2: Yes, and so if you're losing customers, they're gonna have 106 00:05:22,600 --> 00:05:24,400 Speaker 2: to go somewhere and you need safety. 107 00:05:24,560 --> 00:05:27,200 Speaker 4: I mean, people was telling me earlier, like it was 108 00:05:27,200 --> 00:05:29,680 Speaker 4: some memes going around about risk mitigation, Like the risk 109 00:05:29,760 --> 00:05:32,560 Speaker 4: management team was like throwing water at a fire that 110 00:05:32,640 --> 00:05:34,520 Speaker 4: sort of thirty third floor and he's throwing water on 111 00:05:34,560 --> 00:05:37,279 Speaker 4: the first floor. It's like all of these companies that 112 00:05:37,320 --> 00:05:42,520 Speaker 4: got funded, most of them weren't even profitable. Like if 113 00:05:42,520 --> 00:05:44,520 Speaker 4: you look even at the acquisition of Slack, and this 114 00:05:44,600 --> 00:05:48,560 Speaker 4: won't affect the tech like Microsoft matter, it won't affect them, 115 00:05:48,560 --> 00:05:50,400 Speaker 4: but like smaller companies that are getting started, it's gonna 116 00:05:50,400 --> 00:05:54,719 Speaker 4: affect them dramatically. But even take Salesforce paying two billion 117 00:05:54,760 --> 00:05:58,320 Speaker 4: for Slack, and then the team of Slack, the management 118 00:05:58,360 --> 00:06:00,720 Speaker 4: team wasn't using Slack teave and communicate on a day 119 00:06:00,760 --> 00:06:04,240 Speaker 4: to day basis. They was using what's happened telegram Like 120 00:06:04,760 --> 00:06:06,880 Speaker 4: it was just insane. And I hate to say it, 121 00:06:06,920 --> 00:06:08,920 Speaker 4: but this is like the leaning of this generation. 122 00:06:10,440 --> 00:06:12,239 Speaker 2: Yeah, and it's tech driven. 123 00:06:12,560 --> 00:06:15,160 Speaker 5: I mean, the unfortunate part is that some many startups 124 00:06:15,240 --> 00:06:18,039 Speaker 5: do employ people, right, and so now if the company, 125 00:06:18,240 --> 00:06:21,159 Speaker 5: if the bank is dissolved, the right thing about the 126 00:06:21,200 --> 00:06:23,520 Speaker 5: payroll of those people who are to make pyroll. 127 00:06:23,680 --> 00:06:24,080 Speaker 2: It's over. 128 00:06:24,240 --> 00:06:26,880 Speaker 4: Hopefully a bridge, loan or something will be given, but no, 129 00:06:27,000 --> 00:06:28,880 Speaker 4: it's going to be over and we have to be 130 00:06:29,000 --> 00:06:32,880 Speaker 4: very honest like when things earners. 131 00:06:32,920 --> 00:06:33,280 Speaker 2: What's up? 132 00:06:33,360 --> 00:06:36,560 Speaker 6: You ever walk into a small business and everything just works, 133 00:06:36,760 --> 00:06:40,080 Speaker 6: like the checkout is fast, the receipts are digital, tipping 134 00:06:40,320 --> 00:06:42,760 Speaker 6: is a breeze, and you're out the door before the 135 00:06:42,800 --> 00:06:47,200 Speaker 6: line even builds odds are they're using Square. We love 136 00:06:47,240 --> 00:06:50,400 Speaker 6: supporting businesses that run on Square because it just feels seamless. 137 00:06:50,520 --> 00:06:53,080 Speaker 6: Whether it's a local coffee shop, a vendor at a 138 00:06:53,120 --> 00:06:56,000 Speaker 6: pop up market, or even one of our merch partners, 139 00:06:56,240 --> 00:06:59,960 Speaker 6: Square makes it easy for them to take payments, manage inventory, 140 00:07:00,120 --> 00:07:04,000 Speaker 6: and run their business with confidence, all from one simple system. 141 00:07:04,480 --> 00:07:07,080 Speaker 6: If you're a business owner or even just thinking about 142 00:07:07,120 --> 00:07:10,240 Speaker 6: launching something soon, Square is hands down one of the 143 00:07:10,280 --> 00:07:13,720 Speaker 6: best tools out there to help you start, run and grow. 144 00:07:14,000 --> 00:07:17,000 Speaker 6: It's not just about payments, it's about giving you time 145 00:07:17,080 --> 00:07:20,000 Speaker 6: back so you can focus on what matters most ready. 146 00:07:20,040 --> 00:07:23,440 Speaker 6: To see how Square can transform your business, visit Square 147 00:07:23,520 --> 00:07:28,040 Speaker 6: dot com backslash, go backslash eyl to learn more that 148 00:07:28,240 --> 00:07:33,680 Speaker 6: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate, 149 00:07:33,800 --> 00:07:36,160 Speaker 6: Let Square handle the back end so you can keep 150 00:07:36,200 --> 00:07:42,240 Speaker 6: pushing your vision forward. This episode is brought to you 151 00:07:42,320 --> 00:07:44,600 Speaker 6: by P and C Bank. A lot of people think 152 00:07:44,680 --> 00:07:48,560 Speaker 6: podcasts about work are boring, and sure, they definitely can be, 153 00:07:49,040 --> 00:07:52,280 Speaker 6: but understanding a professional's routine shows us how they achieve 154 00:07:52,360 --> 00:07:56,560 Speaker 6: their success little by little, day after day. It's like 155 00:07:56,640 --> 00:07:59,440 Speaker 6: banking with P and C Bank. It might seem boring 156 00:07:59,480 --> 00:08:02,840 Speaker 6: to save and make calculated decisions with your bank, but 157 00:08:02,960 --> 00:08:05,440 Speaker 6: keeping your money boring is what helps you live or 158 00:08:05,480 --> 00:08:09,800 Speaker 6: more happily fulfilled life. P and C Bank Brilliantly Boring 159 00:08:09,840 --> 00:08:14,240 Speaker 6: since eighteen sixty five. Brilliantly Boring since eighteen sixty five 160 00:08:14,360 --> 00:08:17,280 Speaker 6: is a service mark of the PNC Financial Service Group, Inc. 161 00:08:17,760 --> 00:08:21,160 Speaker 6: P and C Bank National Association Member FDIC. 162 00:08:22,920 --> 00:08:26,600 Speaker 1: An illegal alien from Guatemala charged with raping a child 163 00:08:26,640 --> 00:08:30,400 Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador 164 00:08:30,680 --> 00:08:34,800 Speaker 1: accused of murdering a Texas man of Venezuelan charged with 165 00:08:34,880 --> 00:08:38,760 Speaker 1: filming and selling child pornography in Michigan. These are just 166 00:08:38,880 --> 00:08:42,640 Speaker 1: some of the heinous migrant criminals caught because of President 167 00:08:42,640 --> 00:08:46,240 Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States 168 00:08:46,240 --> 00:08:51,040 Speaker 1: Secretary of Homeland security. Under President Trump, attempted illegal border 169 00:08:51,080 --> 00:08:54,640 Speaker 1: crossings are at the lowest levels ever recorded, and over 170 00:08:54,679 --> 00:08:57,920 Speaker 1: one hundred thousand illegal aliens have been arrested. If you 171 00:08:58,000 --> 00:09:02,120 Speaker 1: are here illegally, you you will be fine nearly one 172 00:09:02,160 --> 00:09:06,720 Speaker 1: thousand dollars a day, imprisoned and deported, you will never return. 173 00:09:07,040 --> 00:09:10,080 Speaker 1: But if you register using our CBP home app and 174 00:09:10,160 --> 00:09:13,559 Speaker 1: leave now, you could be allowed to return legally. Do 175 00:09:13,640 --> 00:09:18,720 Speaker 1: what's right, leave now. Under President Trump, America's laws, border 176 00:09:18,960 --> 00:09:20,760 Speaker 1: and families will be protected. 177 00:09:20,880 --> 00:09:22,960 Speaker 2: Sponsored by the United States Department at Home Mad Security. 178 00:09:23,080 --> 00:09:24,800 Speaker 2: Everything was right, And I said it before. 179 00:09:25,520 --> 00:09:27,520 Speaker 4: They're gonna let us get money in twenty twenty for 180 00:09:27,559 --> 00:09:29,680 Speaker 4: the disaster that's going to come. You have to check 181 00:09:29,720 --> 00:09:33,160 Speaker 4: the financial soligncy score of your bank. That just mean 182 00:09:33,320 --> 00:09:36,640 Speaker 4: is your bank have a high probability of going broke? 183 00:09:37,600 --> 00:09:39,640 Speaker 4: Google it called them up acting with the scores. If 184 00:09:39,640 --> 00:09:41,720 Speaker 4: they won't tell you what the score is, probably should 185 00:09:41,720 --> 00:09:42,400 Speaker 4: take your money out. 186 00:09:43,840 --> 00:09:44,559 Speaker 2: Yeah. Yeah. 187 00:09:44,600 --> 00:09:47,640 Speaker 3: And then also what we talked about on stage yesterday, 188 00:09:47,840 --> 00:09:50,000 Speaker 3: well stage Saturday, about this is that. 189 00:09:51,160 --> 00:09:52,400 Speaker 2: There's a few different lessons here. 190 00:09:52,640 --> 00:09:55,080 Speaker 3: So this was a bank where most institutions had their money, 191 00:09:55,120 --> 00:09:57,760 Speaker 3: not retail investors, but retail investors can still learn from this, right, 192 00:09:57,800 --> 00:10:02,760 Speaker 3: Whereas a lot of people historically, especially in our community, 193 00:10:02,800 --> 00:10:05,880 Speaker 3: they're like, well, I don't trust investments, I don't understand 194 00:10:05,880 --> 00:10:08,240 Speaker 3: investing to I'd rather just put my money in a 195 00:10:08,240 --> 00:10:10,760 Speaker 3: bank because it's safe. And the crazy thing about that 196 00:10:10,800 --> 00:10:16,040 Speaker 3: philosophy is that banks invest your money. Yes, right, So 197 00:10:16,240 --> 00:10:18,120 Speaker 3: this was like I said, the reason why this bank 198 00:10:18,120 --> 00:10:20,520 Speaker 3: failed is that their investments didn't work out for them. 199 00:10:20,880 --> 00:10:25,040 Speaker 3: But the overarching lesson here is that banks invest your money. 200 00:10:25,320 --> 00:10:28,280 Speaker 3: So you putting money in a bank account saying that 201 00:10:28,320 --> 00:10:31,120 Speaker 3: you don't want to invest. It's crazy because the money 202 00:10:31,160 --> 00:10:33,080 Speaker 3: that you're putting in the bank account is actually using. 203 00:10:33,040 --> 00:10:34,679 Speaker 2: Your capital to invest. Right. 204 00:10:35,000 --> 00:10:36,680 Speaker 4: And this is the crazy part that we're using the 205 00:10:36,720 --> 00:10:38,880 Speaker 4: active customer deposits as soon as they came in. 206 00:10:39,280 --> 00:10:42,360 Speaker 2: You're trying to offset the losses. We just fraud. We've 207 00:10:42,360 --> 00:10:43,319 Speaker 2: said this plenty of times. 208 00:10:43,360 --> 00:10:44,600 Speaker 5: Just like you go to the bank and you ask 209 00:10:44,679 --> 00:10:47,040 Speaker 5: for five thousand dollars, we got to call it before 210 00:10:47,040 --> 00:10:49,440 Speaker 5: a tenth, You got to call it before. Most people 211 00:10:49,520 --> 00:10:52,600 Speaker 5: think like, yo, the bank has they should have the money, right. 212 00:10:52,640 --> 00:10:53,800 Speaker 2: But this is the reason. 213 00:10:53,600 --> 00:10:56,800 Speaker 5: Because it's actively being put out to use as a 214 00:10:56,840 --> 00:10:57,440 Speaker 5: tool and. 215 00:10:57,480 --> 00:11:00,120 Speaker 4: Unfortunately, it's gonna be a squeeze on regional banks with 216 00:11:00,240 --> 00:11:05,520 Speaker 4: a smaller bank and Midwest I'm from man, those risk 217 00:11:05,559 --> 00:11:08,120 Speaker 4: controls are going to get tightened. Long parameters are going 218 00:11:08,200 --> 00:11:10,960 Speaker 4: to get tightened. I feel bad for like small business owners, 219 00:11:10,960 --> 00:11:12,240 Speaker 4: like they're not going to be able to loan that 220 00:11:12,280 --> 00:11:15,319 Speaker 4: money as easily. And according to what Dave was saying, 221 00:11:15,920 --> 00:11:18,760 Speaker 4: it's a big crash coming yea, yeah, yeah pretty soon, 222 00:11:18,840 --> 00:11:21,200 Speaker 4: So those regulations are going to get even tighter. 223 00:11:21,480 --> 00:11:23,160 Speaker 5: I was listening to the Fat Joe and he was 224 00:11:23,160 --> 00:11:25,679 Speaker 5: talking about how he shout the fact jo Joey. He 225 00:11:25,720 --> 00:11:27,400 Speaker 5: was talking about how he, you know, he banks with 226 00:11:27,440 --> 00:11:30,160 Speaker 5: a regional bank. You know, if he had three million 227 00:11:30,200 --> 00:11:33,280 Speaker 5: dollars and they only showing two hundred and fifty, what 228 00:11:33,320 --> 00:11:34,520 Speaker 5: they're gonna do with the rest of my money? 229 00:11:34,520 --> 00:11:35,120 Speaker 2: He talked about that. 230 00:11:35,200 --> 00:11:37,840 Speaker 5: As far as this is concerned, yeah, yeah, not saying 231 00:11:37,880 --> 00:11:40,240 Speaker 5: that he was an invested in she's saying he giving 232 00:11:40,280 --> 00:11:43,080 Speaker 5: commentary for commentary on SBB on Instagram. 233 00:11:43,200 --> 00:11:44,760 Speaker 2: Yeah yeah, yeah, he did a live about it. I 234 00:11:44,800 --> 00:11:46,000 Speaker 2: was like, I'm gonna check that out. 235 00:11:46,160 --> 00:11:48,360 Speaker 5: That's that's interesting because I'm like, yo, yo, Joey, like 236 00:11:48,440 --> 00:11:49,880 Speaker 5: he knows like he stopped in. 237 00:11:49,920 --> 00:11:50,360 Speaker 2: He'stopped. 238 00:11:51,360 --> 00:11:53,480 Speaker 3: Sometimes he saw us who a political figure was who 239 00:11:53,480 --> 00:11:54,319 Speaker 3: I didn't even recognize. 240 00:11:54,360 --> 00:11:57,200 Speaker 5: He's like, yo, guys, I'm teaching yat yo, at least 241 00:11:57,200 --> 00:11:58,719 Speaker 5: you should know these things. I'm like, yo, bro, you 242 00:11:58,800 --> 00:12:01,160 Speaker 5: know we tapped in, but he stapped in. So what 243 00:12:01,240 --> 00:12:03,360 Speaker 5: I heard this commentary on, I'm like, yo, that's important 244 00:12:03,360 --> 00:12:05,440 Speaker 5: because even like when we were saying like yeah, and 245 00:12:05,480 --> 00:12:07,040 Speaker 5: I know people like I don't have two hundred and 246 00:12:07,040 --> 00:12:09,440 Speaker 5: fifty thousands, but at some point, like you may start 247 00:12:09,480 --> 00:12:11,280 Speaker 5: a business and it may gross that and if your 248 00:12:11,320 --> 00:12:14,280 Speaker 5: business that amount is insured. But yeah, what happens to 249 00:12:14,320 --> 00:12:16,520 Speaker 5: the rest? Even if you had five thousand. It's not 250 00:12:16,559 --> 00:12:19,280 Speaker 5: a well known bank. Have you ever logged into your 251 00:12:19,320 --> 00:12:21,240 Speaker 5: account and your account was short or over? 252 00:12:22,480 --> 00:12:24,520 Speaker 4: Money is being actively switched, And I know they'll say 253 00:12:24,559 --> 00:12:26,560 Speaker 4: it's a bank in air, but this is happening too much. 254 00:12:27,040 --> 00:12:30,160 Speaker 4: Banks are going through a huge issue of not having 255 00:12:30,280 --> 00:12:33,800 Speaker 4: enough liquidity, and with every market, every market is tied 256 00:12:33,840 --> 00:12:38,640 Speaker 4: together NFT crypto stop market mutual funds. Like even people 257 00:12:38,679 --> 00:12:42,240 Speaker 4: who thought they had mutual funds through SVB called and 258 00:12:42,480 --> 00:12:45,680 Speaker 4: SVB owned a mutual fund, was not in your name, 259 00:12:46,640 --> 00:12:48,720 Speaker 4: not had I did that to y'all. Boy, y'all would 260 00:12:48,720 --> 00:12:51,120 Speaker 4: have my head right. So you have to be careful 261 00:12:51,120 --> 00:12:55,760 Speaker 4: a monitor who you're banking with. And it's the funny part, 262 00:12:55,760 --> 00:12:58,600 Speaker 4: like the guy who ran that bank was involved in 263 00:12:58,640 --> 00:13:01,920 Speaker 4: another bank crash. So going back to the fundamentals of 264 00:13:02,000 --> 00:13:04,440 Speaker 4: like knowing the founder or who's running the company and 265 00:13:04,520 --> 00:13:07,199 Speaker 4: what kind of intemporary they do or don't have, will 266 00:13:07,200 --> 00:13:09,319 Speaker 4: decide what kind of actions that are taking. And I 267 00:13:09,320 --> 00:13:14,320 Speaker 4: won't even mention Wells Fargo and other banks that introduce 268 00:13:14,360 --> 00:13:16,040 Speaker 4: the scamming come on. 269 00:13:16,679 --> 00:13:18,680 Speaker 3: And then also it's important to understand we talked about 270 00:13:18,679 --> 00:13:21,880 Speaker 3: this yesterday too. You got to diversify. You shouldn't put 271 00:13:21,880 --> 00:13:25,200 Speaker 3: all your money in just to think. And this is 272 00:13:25,200 --> 00:13:29,800 Speaker 3: why investing is important, because you should have emergency funds. 273 00:13:30,080 --> 00:13:33,319 Speaker 3: That's important. But at a certain point you got to 274 00:13:33,360 --> 00:13:36,800 Speaker 3: start diversifying. So whether it's in stocks, whether it's in 275 00:13:36,840 --> 00:13:39,840 Speaker 3: real estate, whether it's in you know, private equity, putting 276 00:13:39,840 --> 00:13:42,959 Speaker 3: money into different other businesses. You got to start thinking 277 00:13:42,960 --> 00:13:45,160 Speaker 3: strategically like how where can I put this money? 278 00:13:45,160 --> 00:13:45,280 Speaker 2: Now? 279 00:13:45,320 --> 00:13:47,000 Speaker 3: You just don't want to put money into something that's 280 00:13:47,040 --> 00:13:50,280 Speaker 3: going to lose money because that's not beneficial. But now 281 00:13:50,320 --> 00:13:53,000 Speaker 3: you have to actually start playing the game. It's like Monopoly. 282 00:13:53,280 --> 00:13:56,000 Speaker 3: When you don't win Monopoly by just having the most money. 283 00:13:56,160 --> 00:13:59,840 Speaker 3: You win Monopoly by having the hotels or the houses, 284 00:14:00,040 --> 00:14:02,040 Speaker 3: because then when they land on your hotel, your house, 285 00:14:02,080 --> 00:14:03,319 Speaker 3: then they have to pay you, right, And that's how 286 00:14:03,320 --> 00:14:06,640 Speaker 3: you actually win Monopoly. Because I've won Monopoly two times 287 00:14:06,640 --> 00:14:11,320 Speaker 3: in the last two weeks, and the Monopoly Champions playing well, 288 00:14:11,360 --> 00:14:13,760 Speaker 3: I beat my dad. It was my dad, my niece, 289 00:14:13,800 --> 00:14:16,440 Speaker 3: and my son. And then the other time it was 290 00:14:16,520 --> 00:14:18,800 Speaker 3: it was my niece, my son, and my sister. 291 00:14:19,040 --> 00:14:19,400 Speaker 2: Gotcha. 292 00:14:20,040 --> 00:14:22,400 Speaker 5: I'll give you the first one because your dad is legit, 293 00:14:23,640 --> 00:14:25,040 Speaker 5: you know, disrespect the second one. 294 00:14:25,040 --> 00:14:28,040 Speaker 2: Okay, one question. I got strategy. There's all types of 295 00:14:28,080 --> 00:14:33,360 Speaker 2: different rules you can do. It's all about strategy, all right. 296 00:14:35,560 --> 00:14:40,800 Speaker 6: My graduates from my school being forced back drop drop, 297 00:14:41,400 --> 00:14:43,320 Speaker 6: Mike drop back drop. 298 00:14:43,600 --> 00:14:57,440 Speaker 1: Drop, an illegal alien from Guatemala charged with raping a 299 00:14:57,520 --> 00:15:01,040 Speaker 1: child in Massachusetts and MS thirteen gang member from Al 300 00:15:01,120 --> 00:15:05,920 Speaker 1: Salvador accused of murdering a Texas man of Venezuelan charged 301 00:15:05,960 --> 00:15:09,880 Speaker 1: with filming and selling child pornography in Michigan. These are 302 00:15:09,920 --> 00:15:13,400 Speaker 1: just some of the heinous migrant criminals caught because of 303 00:15:13,440 --> 00:15:17,160 Speaker 1: President Donald J. Trump's leadership. I'm Christy nom the United 304 00:15:17,200 --> 00:15:21,920 Speaker 1: States Secretary of Homeland Security. Under President Trump, attempted illegal 305 00:15:21,960 --> 00:15:25,640 Speaker 1: border crossings are at the lowest levels ever recorded, and 306 00:15:25,680 --> 00:15:29,040 Speaker 1: over one hundred thousand illegal aliens have been arrested. If 307 00:15:29,040 --> 00:15:32,720 Speaker 1: you are here illegally, your next you will be fine 308 00:15:32,760 --> 00:15:36,880 Speaker 1: nearly one thousand dollars a day, imprisoned and deported, you 309 00:15:36,920 --> 00:15:40,480 Speaker 1: will never return. But if you register using our CBP 310 00:15:40,640 --> 00:15:43,360 Speaker 1: home app and leave now, you could be allowed to 311 00:15:43,440 --> 00:15:48,240 Speaker 1: return legally. Do what's right. Leave now. Under President Trump, 312 00:15:48,400 --> 00:15:52,000 Speaker 1: America's laws, border and families will be protected. 313 00:15:52,080 --> 00:15:54,200 Speaker 2: Sponsored by the United States Department of Homeland Security.