1 00:00:02,000 --> 00:00:04,840 Speaker 1: Welcome to a special bonus episode of Masters in Business. 2 00:00:05,400 --> 00:00:08,560 Speaker 1: I'm Jason Kelly, chief correspondent from Bloomberg Quicktake and the 3 00:00:08,600 --> 00:00:11,720 Speaker 1: host of Bloomberg Sports Well. He's got one of the 4 00:00:11,760 --> 00:00:15,280 Speaker 1: most recognizable voices in the world and has spoken some 5 00:00:15,320 --> 00:00:19,240 Speaker 1: of the most memorable lines ever in movies. It's show time. 6 00:00:25,800 --> 00:00:30,520 Speaker 1: I'll be back before Reese or Lebron Arnold was the 7 00:00:30,560 --> 00:00:34,199 Speaker 1: original multi hyphen it famous for being a bodybuilder, a 8 00:00:34,240 --> 00:00:38,800 Speaker 1: movie star, and governor of California, and quietly a very 9 00:00:38,840 --> 00:00:43,680 Speaker 1: successful businessman. Very carefully chosen. The people that I work 10 00:00:43,760 --> 00:00:47,640 Speaker 1: with is Arnold. It's kind of my model to be 11 00:00:47,880 --> 00:00:53,200 Speaker 1: people who do have that business gene. Then it becomes 12 00:00:53,320 --> 00:00:56,480 Speaker 1: very hard to work. And I learned from Arnold they 13 00:00:56,520 --> 00:00:59,960 Speaker 1: have to have that instinct. For more than forty years, 14 00:01:00,240 --> 00:01:03,800 Speaker 1: he pioneered a strategy of not just endorsing, but investing, 15 00:01:04,360 --> 00:01:07,759 Speaker 1: buying real estate and airplanes, and partnering on everything from 16 00:01:07,800 --> 00:01:12,840 Speaker 1: Planet Hollywood to Hummer. His secret weapon an adviser and 17 00:01:12,920 --> 00:01:16,479 Speaker 1: banker named Paul Walkeder that Schwarzenegger met in the early 18 00:01:16,640 --> 00:01:21,160 Speaker 1: nineteen eighties. Schwartzenegger encouraged walk Her years ago to ditch 19 00:01:21,240 --> 00:01:25,280 Speaker 1: investment banking and hang out of Shingle in Santa Monica. Walkeder, 20 00:01:25,840 --> 00:01:29,240 Speaker 1: through his firm Main Street Advisors, has continued to advise 21 00:01:29,400 --> 00:01:33,080 Speaker 1: Arnold and subsequently used that same template to work with 22 00:01:33,120 --> 00:01:36,880 Speaker 1: clients from Lebron to Billie Eilish, helping create companies like 23 00:01:36,959 --> 00:01:40,959 Speaker 1: Beats by Dre and Lobos Tequila in the process. I 24 00:01:41,040 --> 00:01:42,800 Speaker 1: recently got a chance to sit down with Paul and 25 00:01:42,880 --> 00:01:46,160 Speaker 1: Arnold in l A to talk about their partnership, how 26 00:01:46,160 --> 00:01:49,760 Speaker 1: the world of entertainer and athlete investment has exploded, and 27 00:01:49,760 --> 00:01:52,800 Speaker 1: what even the non famous can learn about building wealth. 28 00:01:54,840 --> 00:01:58,320 Speaker 1: Talk to me more about that notion that you saw 29 00:01:58,600 --> 00:02:02,280 Speaker 1: very early on, theory early in your career that you 30 00:02:02,320 --> 00:02:06,920 Speaker 1: wanted to have a serious business in addition to what 31 00:02:06,960 --> 00:02:09,960 Speaker 1: you were doing as an athlete as an entertainer. Why 32 00:02:10,120 --> 00:02:14,440 Speaker 1: what opened your eyes to that early on? I was 33 00:02:14,600 --> 00:02:18,640 Speaker 1: fascinated about the fact that you can't make so much money, 34 00:02:18,639 --> 00:02:20,560 Speaker 1: for instance, in real estate. So I got into real 35 00:02:20,680 --> 00:02:23,600 Speaker 1: estate and um and it was also at the time 36 00:02:23,600 --> 00:02:26,040 Speaker 1: where we had a high inflation, and so the real 37 00:02:26,120 --> 00:02:28,240 Speaker 1: estate went up every year but ten percent and fIF 38 00:02:29,120 --> 00:02:31,600 Speaker 1: So if you own a million dollar building, it went 39 00:02:31,680 --> 00:02:34,720 Speaker 1: up a hundred and fifty thousand dollars. So at that 40 00:02:34,800 --> 00:02:37,440 Speaker 1: time you could have booked your ass off. And we've 41 00:02:37,520 --> 00:02:40,000 Speaker 1: never made a hundred and fifty thou dollars and there's 42 00:02:40,040 --> 00:02:42,359 Speaker 1: an investment. You don't have to do anything, just wait 43 00:02:42,639 --> 00:02:45,240 Speaker 1: until the years over and then you have the properties 44 00:02:45,280 --> 00:02:47,560 Speaker 1: worth a hundred and fifty thousand more. So it was 45 00:02:47,639 --> 00:02:50,880 Speaker 1: it was clear to me that I was interested in investing. 46 00:02:50,919 --> 00:02:54,160 Speaker 1: But also remember that I studied business when I was 47 00:02:54,240 --> 00:02:58,000 Speaker 1: in back in Austria, and there will be specialized specifically 48 00:02:58,360 --> 00:03:03,200 Speaker 1: in marketing and in selling. And little didn't know then 49 00:03:03,320 --> 00:03:07,440 Speaker 1: that in life, no matter what you do, it always 50 00:03:07,520 --> 00:03:11,960 Speaker 1: involves around marketing, how to populicize and how to sell. 51 00:03:12,480 --> 00:03:14,560 Speaker 1: It doesn't matter if you're in a business of movies, 52 00:03:15,040 --> 00:03:17,400 Speaker 1: or if in a business of art and paintings, or 53 00:03:17,400 --> 00:03:21,240 Speaker 1: if in sports, if you clothing. No matter what business 54 00:03:21,320 --> 00:03:23,639 Speaker 1: you're in, you have to go and let the world 55 00:03:23,800 --> 00:03:27,840 Speaker 1: know that this product exists and only then are you 56 00:03:27,880 --> 00:03:30,800 Speaker 1: able to sell. And then you have to also be 57 00:03:30,919 --> 00:03:36,000 Speaker 1: a good businessman. So I, somehow, through some miracle reason, 58 00:03:36,360 --> 00:03:38,480 Speaker 1: I had this early training from the time I was 59 00:03:38,560 --> 00:03:41,320 Speaker 1: fifth into the time I was eighteen in Austria, where 60 00:03:41,320 --> 00:03:44,680 Speaker 1: it was actually a salesman studied business in the school 61 00:03:45,040 --> 00:03:48,280 Speaker 1: and studied, you know, how to do business, how to 62 00:03:48,560 --> 00:03:51,360 Speaker 1: make money, how to do the accounting and offer this stuff, 63 00:03:51,520 --> 00:03:53,800 Speaker 1: and so that was very helpful. But the rest of 64 00:03:53,840 --> 00:03:56,240 Speaker 1: my life. I never knew then that I would use 65 00:03:56,280 --> 00:03:58,360 Speaker 1: those kind of talents the rest of my life. So 66 00:03:58,400 --> 00:04:00,800 Speaker 1: I was always was interested in business, and therefore I 67 00:04:00,800 --> 00:04:03,600 Speaker 1: had this kind of great advantage. So they've when I 68 00:04:03,640 --> 00:04:06,680 Speaker 1: started making a lot of money in the show business, 69 00:04:07,080 --> 00:04:09,280 Speaker 1: I knew what to do with this money, and I 70 00:04:09,520 --> 00:04:14,000 Speaker 1: knew how to go and hey through my investments for 71 00:04:14,200 --> 00:04:18,560 Speaker 1: the taxes and never really worry about, you know, having 72 00:04:18,600 --> 00:04:21,520 Speaker 1: an offshore corporation, any of those kind of things that 73 00:04:21,520 --> 00:04:24,080 Speaker 1: that that I despise, all of the stuff that that 74 00:04:24,200 --> 00:04:26,680 Speaker 1: you try to avoid paying taxes. Always was a guy 75 00:04:26,720 --> 00:04:30,240 Speaker 1: that was interested in paying taxes, but I always wanted 76 00:04:30,279 --> 00:04:32,440 Speaker 1: to make sure at the same time that investment money 77 00:04:32,440 --> 00:04:34,480 Speaker 1: so that I make up for that. But those kind 78 00:04:34,480 --> 00:04:37,760 Speaker 1: of payments that you give the I s Paul, That's 79 00:04:37,800 --> 00:04:41,400 Speaker 1: that's atypical, to say the least right for someone to 80 00:04:41,680 --> 00:04:45,279 Speaker 1: come into a career thinking that some people come up 81 00:04:45,279 --> 00:04:48,360 Speaker 1: I mean, you have deep experience here. What were your 82 00:04:48,400 --> 00:04:52,279 Speaker 1: observations of Arnold in those sort of early days, having 83 00:04:52,320 --> 00:04:55,080 Speaker 1: come to the table with that kind of expen well, 84 00:04:55,200 --> 00:04:57,280 Speaker 1: it was clear to me from the beginning that he 85 00:04:57,480 --> 00:05:00,320 Speaker 1: was interested in business. I don't think it would have 86 00:05:00,360 --> 00:05:02,360 Speaker 1: ever worked out for us to work together if you 87 00:05:02,480 --> 00:05:04,880 Speaker 1: weren't interested in business, if he had just said, I 88 00:05:04,880 --> 00:05:07,640 Speaker 1: don't know anything about business, go figure it out. The 89 00:05:07,680 --> 00:05:11,080 Speaker 1: fact is he was a partner to me in it, 90 00:05:11,160 --> 00:05:13,840 Speaker 1: and he came with a very different perspective than I had. 91 00:05:14,480 --> 00:05:17,360 Speaker 1: So I've learned a lot over the years from him 92 00:05:17,400 --> 00:05:19,880 Speaker 1: and other people. I think I have much more of 93 00:05:19,920 --> 00:05:22,760 Speaker 1: a marketing gene now and I understand all that, but 94 00:05:22,839 --> 00:05:25,560 Speaker 1: coming in I was more of a financial person, and 95 00:05:25,640 --> 00:05:29,440 Speaker 1: so I learned a lot about marketing and sales and 96 00:05:29,480 --> 00:05:32,039 Speaker 1: things like that from him. I always say that whoever 97 00:05:32,120 --> 00:05:36,280 Speaker 1: that guy was that taught Arnold sales in Austria, and like, 98 00:05:36,520 --> 00:05:39,520 Speaker 1: you know, whatever year that was, they should should build 99 00:05:39,520 --> 00:05:41,800 Speaker 1: a statute to him or something, because he was obviously 100 00:05:41,839 --> 00:05:45,200 Speaker 1: really good. But you know, Arnold was always had that 101 00:05:45,680 --> 00:05:49,960 Speaker 1: uh sales and marketing gene. And I was saying I 102 00:05:50,000 --> 00:05:52,520 Speaker 1: was saying before that I don't know if he was 103 00:05:52,560 --> 00:05:54,320 Speaker 1: the first person, but I think he might have been 104 00:05:54,320 --> 00:05:56,599 Speaker 1: the first person who kind of traveled around the world 105 00:05:57,040 --> 00:05:59,720 Speaker 1: promoting his movies. Because first of all, he had a 106 00:05:59,720 --> 00:06:03,359 Speaker 1: global perspective, which I also did, and when I was 107 00:06:03,400 --> 00:06:08,279 Speaker 1: a banker investment bank a lot of clue then as well. 108 00:06:08,440 --> 00:06:12,119 Speaker 1: I worked at Israel, I worked at UP so that thing, 109 00:06:12,200 --> 00:06:16,560 Speaker 1: which was unusual for most Americans. So he had a 110 00:06:16,600 --> 00:06:20,560 Speaker 1: global perspective. But also he was always thinking about selling. 111 00:06:20,600 --> 00:06:22,720 Speaker 1: It was like, if you if you do something or 112 00:06:22,760 --> 00:06:24,800 Speaker 1: you make something and you can't sell it, what's the 113 00:06:24,839 --> 00:06:27,679 Speaker 1: point and so and that was true of his movies. 114 00:06:28,120 --> 00:06:30,120 Speaker 1: And so he was on Johnny Carr. That's how I 115 00:06:30,160 --> 00:06:33,159 Speaker 1: first knew who he was because I wasn't. I mean, 116 00:06:33,600 --> 00:06:36,440 Speaker 1: look at me, I think I was a bodybuilding I'm 117 00:06:36,480 --> 00:06:40,560 Speaker 1: actually not, but this is a podcast. Yeah, I'd see him. 118 00:06:40,800 --> 00:06:43,159 Speaker 1: I've seen him on Johnny Carson many times, and I 119 00:06:43,279 --> 00:06:46,280 Speaker 1: just found him so interesting because he was such a 120 00:06:46,279 --> 00:06:48,919 Speaker 1: great salesman and he would do this thing with Johnny 121 00:06:48,960 --> 00:06:51,360 Speaker 1: Carson and I watched. I was a big Carson fan, 122 00:06:51,839 --> 00:06:54,640 Speaker 1: so I kind of knew his rhythm where Arnold would 123 00:06:54,680 --> 00:06:59,000 Speaker 1: just segue right into selling and Carson always got the 124 00:06:59,080 --> 00:07:01,000 Speaker 1: joke and he always has kind of led Arnold to 125 00:07:01,040 --> 00:07:03,520 Speaker 1: the point where Arnold could go, oh, and by the way, 126 00:07:03,560 --> 00:07:05,279 Speaker 1: I'm just coming out with a movie, and it was 127 00:07:05,520 --> 00:07:08,040 Speaker 1: like an inside joke between the two of them. And 128 00:07:08,120 --> 00:07:11,400 Speaker 1: so I think when you asked that question, I wouldn't 129 00:07:11,440 --> 00:07:14,200 Speaker 1: have been as interested in what we were doing if 130 00:07:14,240 --> 00:07:17,200 Speaker 1: I didn't feel that he had a business gene and 131 00:07:17,240 --> 00:07:20,960 Speaker 1: would be business partner. He just didn't. And obviously I 132 00:07:21,000 --> 00:07:24,800 Speaker 1: have certain skills and finance and things that I have, 133 00:07:25,440 --> 00:07:28,080 Speaker 1: but some of the stuff he talked about, like all 134 00:07:28,120 --> 00:07:32,640 Speaker 1: the planet Hollywood stuff before I started, that was really 135 00:07:32,680 --> 00:07:34,760 Speaker 1: one of the things we worked on while I was 136 00:07:34,800 --> 00:07:39,200 Speaker 1: still an investment banker before and I think we together 137 00:07:39,360 --> 00:07:41,280 Speaker 1: did a great job on that, and it was a 138 00:07:41,320 --> 00:07:44,160 Speaker 1: great thing. And I remember once he called me and said, 139 00:07:44,160 --> 00:07:48,040 Speaker 1: I want to buy Santa Clarita Studios. Drive up there 140 00:07:48,040 --> 00:07:49,920 Speaker 1: and look at it, which is way the hell up 141 00:07:49,920 --> 00:07:53,000 Speaker 1: and Antelope Valley in your Magic Mountain, And I was 142 00:07:53,080 --> 00:07:55,400 Speaker 1: just like, what is complain? You know, what is this? 143 00:07:55,640 --> 00:07:58,120 Speaker 1: Actually probably wouldn't have been a bad today, it would 144 00:07:58,120 --> 00:08:00,679 Speaker 1: have been an incredible asset that so he was always 145 00:08:00,760 --> 00:08:03,480 Speaker 1: thinking like that, you know, I was thinking about investing, 146 00:08:03,560 --> 00:08:09,120 Speaker 1: thinking about business, thinking about market and yet your peers 147 00:08:09,160 --> 00:08:12,440 Speaker 1: were not obviously keeping honest here Arnold like they would 148 00:08:12,520 --> 00:08:13,960 Speaker 1: make a movie, didn't sort of move on to the 149 00:08:14,000 --> 00:08:17,800 Speaker 1: next one. They weren't going and pitching it around the world. 150 00:08:17,840 --> 00:08:21,320 Speaker 1: They weren't maybe as aously courting the Carsons of the 151 00:08:21,320 --> 00:08:24,440 Speaker 1: world to do that. Might do some endorsements here and there. 152 00:08:24,480 --> 00:08:30,120 Speaker 1: But what did you see that that was missing? Well, 153 00:08:30,120 --> 00:08:32,400 Speaker 1: I don't think there was anything missing with those guys. 154 00:08:32,440 --> 00:08:35,520 Speaker 1: I think they were very, very talented actors. That but 155 00:08:35,600 --> 00:08:38,319 Speaker 1: that was the craft, that was their talent. They were 156 00:08:38,360 --> 00:08:43,440 Speaker 1: extraordinary actors, but they were not necessarily businessman. So them 157 00:08:43,720 --> 00:08:46,240 Speaker 1: when the agents said, look, I can get you those 158 00:08:46,320 --> 00:08:48,360 Speaker 1: days a million dollars with a lot of money, I 159 00:08:48,360 --> 00:08:50,880 Speaker 1: can get the million dollars a movie, those guys were 160 00:08:51,000 --> 00:08:54,080 Speaker 1: very happy. But they didn't think about it beyond okay, theft, 161 00:08:54,600 --> 00:08:56,880 Speaker 1: if you pay taxes and then you have my staff 162 00:08:57,000 --> 00:09:01,559 Speaker 1: have my right off maybe business us or the expenses 163 00:09:01,600 --> 00:09:04,240 Speaker 1: and that all those kind of things. They didn't think that. 164 00:09:04,440 --> 00:09:06,120 Speaker 1: It was just oh, I'm so happy that they get 165 00:09:06,120 --> 00:09:08,160 Speaker 1: this money, and that was it. And there was a 166 00:09:08,200 --> 00:09:10,880 Speaker 1: business manager that then took care of the money. And 167 00:09:10,920 --> 00:09:13,520 Speaker 1: you know, who knows what they were doing, right, I mean, 168 00:09:14,720 --> 00:09:17,960 Speaker 1: it was like a lot of those actors eventually lost 169 00:09:18,080 --> 00:09:20,839 Speaker 1: the money and they had nothing, and oh the I 170 00:09:21,000 --> 00:09:23,480 Speaker 1: s in the millions of dollars and so so. But 171 00:09:23,559 --> 00:09:26,120 Speaker 1: this is because they were actors in the businessmen. I 172 00:09:26,240 --> 00:09:30,520 Speaker 1: happen to have the talent at first. I came from business, 173 00:09:30,920 --> 00:09:33,920 Speaker 1: then I went into bodybuilding, then I went into acting, 174 00:09:34,000 --> 00:09:37,320 Speaker 1: So I have a totally different approach. Also, let's not 175 00:09:37,440 --> 00:09:41,640 Speaker 1: forget that I have the advantage of having come from Europe. 176 00:09:41,960 --> 00:09:44,559 Speaker 1: So when you come from Europe and you've traveled now 177 00:09:44,640 --> 00:09:47,920 Speaker 1: with bodybuilding, the entire world doesn't matter. If you go 178 00:09:47,960 --> 00:09:51,560 Speaker 1: to Australia or to African countries, or you go to 179 00:09:51,640 --> 00:09:54,680 Speaker 1: Asian countries, European countries. You all over the place in 180 00:09:54,760 --> 00:09:57,800 Speaker 1: order of America, South American, North America in orders, so 181 00:09:57,920 --> 00:10:01,240 Speaker 1: you covered the world. When went into show business and 182 00:10:01,240 --> 00:10:04,440 Speaker 1: they started doing movies, I remember they be set down 183 00:10:04,440 --> 00:10:07,160 Speaker 1: with Universal Studio and they said, okay, if you're gonna 184 00:10:07,200 --> 00:10:10,680 Speaker 1: go and send you with Conan the Barbarian to France 185 00:10:11,760 --> 00:10:16,800 Speaker 1: and uh to Germany and to Japan. So I said, 186 00:10:17,000 --> 00:10:19,480 Speaker 1: my only three countries. They said, well, this is our 187 00:10:19,520 --> 00:10:22,719 Speaker 1: biggest bias, and the other ones are not really up 188 00:10:22,760 --> 00:10:25,000 Speaker 1: to par with our movies that do their own movies 189 00:10:25,080 --> 00:10:27,400 Speaker 1: noticed stuff. I said, well, isn't it time that we 190 00:10:27,520 --> 00:10:30,839 Speaker 1: go and promote our movies also in the countries they 191 00:10:30,880 --> 00:10:34,920 Speaker 1: are not yet very independe official and bring a lot 192 00:10:34,960 --> 00:10:37,240 Speaker 1: of profits. And they said, no, no, no, I don't 193 00:10:37,280 --> 00:10:39,200 Speaker 1: want to do that. Actors don't like to fly around 194 00:10:39,240 --> 00:10:42,360 Speaker 1: the world. Anyway, I said, was let's were not a 195 00:10:42,480 --> 00:10:45,040 Speaker 1: map and let's go on the side. Now which countries 196 00:10:45,080 --> 00:10:47,280 Speaker 1: we should go? I would like to go to ten countries, 197 00:10:47,600 --> 00:10:51,120 Speaker 1: just to make it up ten countries and they said 198 00:10:51,320 --> 00:10:53,839 Speaker 1: you would I said yeah, it's all of a sudden, 199 00:10:53,880 --> 00:10:56,120 Speaker 1: they said, yeah, well, actually we always wanted to stand 200 00:10:56,120 --> 00:10:59,160 Speaker 1: someone to Norway into Finland and the Nordic countries in 201 00:10:59,240 --> 00:11:01,480 Speaker 1: Europe also would like to go, and have you go 202 00:11:01,559 --> 00:11:04,520 Speaker 1: to Italy? How about Spain? And said, yeah, Spain. We 203 00:11:04,600 --> 00:11:06,679 Speaker 1: shot the movie Coming to but Bar, and of course 204 00:11:06,679 --> 00:11:08,520 Speaker 1: we should go to Spain, and then then we go 205 00:11:08,600 --> 00:11:10,559 Speaker 1: to Japan and then we go So now we made 206 00:11:10,640 --> 00:11:13,640 Speaker 1: up ten countries. And they called me back after this honor. 207 00:11:13,720 --> 00:11:16,160 Speaker 1: This was such a hit. Now those countries want to 208 00:11:16,240 --> 00:11:19,160 Speaker 1: buy other movies of ours in blap bla, So I mean, 209 00:11:19,200 --> 00:11:21,280 Speaker 1: it was like a no brainer. For me that you 210 00:11:21,360 --> 00:11:26,000 Speaker 1: say the world it's the marketplace, not just the United States, 211 00:11:26,040 --> 00:11:29,840 Speaker 1: not just Japan, not just Germany. The world is the marketplace. 212 00:11:29,960 --> 00:11:33,559 Speaker 1: And if it isn't yet there, let's build it. And 213 00:11:33,640 --> 00:11:36,920 Speaker 1: I of course thought about it a bit selfishly at 214 00:11:36,960 --> 00:11:39,120 Speaker 1: the same time, because I said to myself, if the 215 00:11:39,240 --> 00:11:42,760 Speaker 1: studio is paying for me to travel around the world 216 00:11:43,200 --> 00:11:45,760 Speaker 1: to promote the movie, well who is this going to 217 00:11:45,840 --> 00:11:48,120 Speaker 1: benefit and the staff of the movie I'm going to 218 00:11:48,240 --> 00:11:50,880 Speaker 1: benefit from that. And so I always looked at it 219 00:11:50,880 --> 00:11:54,199 Speaker 1: as kind of like in a synergy in a synegy way, 220 00:11:54,720 --> 00:11:58,040 Speaker 1: that you have to go and think about your own career, 221 00:11:58,120 --> 00:12:00,360 Speaker 1: your own name, how to build that up. So I 222 00:12:00,400 --> 00:12:05,800 Speaker 1: think that those talents of marketing, publicity, business, and then 223 00:12:05,880 --> 00:12:10,079 Speaker 1: the national vision of that is because of my background, 224 00:12:10,800 --> 00:12:13,680 Speaker 1: and I don't expect other people to have to naturally, 225 00:12:14,040 --> 00:12:16,439 Speaker 1: if it doesn't matter if you're a lebron or if 226 00:12:16,440 --> 00:12:19,120 Speaker 1: your mark spits, or if your shoe nameth or anything 227 00:12:19,160 --> 00:12:22,160 Speaker 1: like that, any of those speaks athletic names, you know 228 00:12:22,240 --> 00:12:25,440 Speaker 1: you don't you don't get good in those areas just 229 00:12:25,480 --> 00:12:29,080 Speaker 1: because you're a great athlete, right right, And so let's 230 00:12:29,120 --> 00:12:32,240 Speaker 1: talk about plann at Hollywood because as you look back, 231 00:12:33,320 --> 00:12:37,960 Speaker 1: what was in your mind when that came across, well, 232 00:12:38,120 --> 00:12:40,880 Speaker 1: the original office and a lot of the deals that 233 00:12:41,120 --> 00:12:44,120 Speaker 1: I have done was always we would like it to 234 00:12:44,400 --> 00:12:47,920 Speaker 1: endorse this, and all you have to do is take 235 00:12:47,960 --> 00:12:50,840 Speaker 1: a picture with it and we take a picture together 236 00:12:51,480 --> 00:12:54,840 Speaker 1: and you come to the original opening of you know, 237 00:12:55,080 --> 00:12:58,960 Speaker 1: bags ship rest around us or whatever it is, whatever 238 00:12:59,000 --> 00:13:02,079 Speaker 1: product is, and uh, and that's it. It makes a 239 00:13:02,080 --> 00:13:05,480 Speaker 1: certain amount of money, and I always felt kind of 240 00:13:05,520 --> 00:13:10,880 Speaker 1: like it's not as organic. I didn't want to be 241 00:13:11,400 --> 00:13:14,360 Speaker 1: just doing a commercial and get the money. I always 242 00:13:14,360 --> 00:13:16,600 Speaker 1: felt like I should get involved. To Planet Hollywood was 243 00:13:16,640 --> 00:13:19,080 Speaker 1: one of those, because you mentioned it a good example 244 00:13:19,360 --> 00:13:21,280 Speaker 1: where I said, well, you know, I don't want to 245 00:13:21,320 --> 00:13:23,640 Speaker 1: just do a commercial or I don't want to just 246 00:13:23,840 --> 00:13:27,719 Speaker 1: do an endorsement, but why don't I get involved? And 247 00:13:27,760 --> 00:13:32,640 Speaker 1: they have a certain small ownership of the business, and 248 00:13:32,679 --> 00:13:34,719 Speaker 1: so they said, oh, would you want to do that, 249 00:13:34,800 --> 00:13:36,960 Speaker 1: and they said yes. I said, give me no money. 250 00:13:37,920 --> 00:13:40,320 Speaker 1: I don't want no money. I said, I'm not cash poor. 251 00:13:40,840 --> 00:13:43,480 Speaker 1: I said, luckily, I've always invested my money. Well, so 252 00:13:43,559 --> 00:13:45,920 Speaker 1: I said, I'd like to take a little risk myself. 253 00:13:46,520 --> 00:13:49,200 Speaker 1: I see, I'm not scared of risks, and they said, 254 00:13:49,280 --> 00:13:52,280 Speaker 1: you would do it Jesus business thinking kind of a 255 00:13:52,320 --> 00:13:54,680 Speaker 1: mentality you got there, and I said yeah, I said, 256 00:13:54,720 --> 00:13:56,720 Speaker 1: let's just do that. And they said wee we made 257 00:13:56,720 --> 00:14:00,480 Speaker 1: this deal. And then I helped them. Attended came part 258 00:14:00,520 --> 00:14:04,960 Speaker 1: of the business, part of the decision making. And then 259 00:14:05,080 --> 00:14:07,040 Speaker 1: I talked to me into that we should also have 260 00:14:07,480 --> 00:14:11,240 Speaker 1: stall loan, and then we should have Bruce Willis and 261 00:14:11,360 --> 00:14:13,640 Speaker 1: will we go back, and the list went on and on, 262 00:14:13,640 --> 00:14:15,800 Speaker 1: and all of a sudden, we had like twenties celebrities 263 00:14:16,160 --> 00:14:19,640 Speaker 1: that were able to travel all over the world and 264 00:14:20,320 --> 00:14:25,120 Speaker 1: create sometimes up to forty fifty thousand people participating in 265 00:14:25,160 --> 00:14:28,920 Speaker 1: an opening of a planet Hollywood, I mean in London. 266 00:14:28,960 --> 00:14:31,360 Speaker 1: They said, we haven't seen that many people since the 267 00:14:31,400 --> 00:14:34,800 Speaker 1: Beetle Beetles performed, And so this is the kind of 268 00:14:34,800 --> 00:14:38,560 Speaker 1: crowds that we got. It was all because celebrities were involved. 269 00:14:38,840 --> 00:14:41,920 Speaker 1: It looked organic. It didn't look like just an indorsement. 270 00:14:42,240 --> 00:14:45,000 Speaker 1: It looked like they were really involved because they went 271 00:14:45,120 --> 00:14:49,640 Speaker 1: to the various different locations and openings. They're moving memorabiliers 272 00:14:49,920 --> 00:14:53,280 Speaker 1: were inside the restaurant. So there was like a real 273 00:14:53,440 --> 00:14:56,720 Speaker 1: feeling like we have given up all of our memorabilities 274 00:14:56,960 --> 00:14:59,240 Speaker 1: to scatter them all over the world, which we did, 275 00:14:59,760 --> 00:15:01,640 Speaker 1: and then they had to make copies of that because 276 00:15:01,680 --> 00:15:04,520 Speaker 1: of course the restaurant business grew so fast in orders, 277 00:15:04,520 --> 00:15:06,760 Speaker 1: so this was like a huge coup. And you know, 278 00:15:06,880 --> 00:15:09,200 Speaker 1: by the time I sold this whole thing, you know, 279 00:15:09,960 --> 00:15:12,920 Speaker 1: tens of millions of dollars with no investment of it. 280 00:15:13,120 --> 00:15:15,600 Speaker 1: So people were then shock and said, gieve, you made 281 00:15:15,640 --> 00:15:19,480 Speaker 1: the second most amount of money of anybody in the 282 00:15:19,640 --> 00:15:22,360 Speaker 1: business in the planet, Hollywood business. How did you do that? 283 00:15:22,960 --> 00:15:24,960 Speaker 1: I said, well, I said, I'm a businessman. I know 284 00:15:25,040 --> 00:15:27,320 Speaker 1: exactly how to do it and when to sell in 285 00:15:27,400 --> 00:15:30,040 Speaker 1: order stuff. And of course Paul was right there, Main 286 00:15:30,160 --> 00:15:33,760 Speaker 1: Street Advisors was right there and every step of the 287 00:15:33,760 --> 00:15:37,000 Speaker 1: way helping me. Laid on after we went business already 288 00:15:37,000 --> 00:15:39,520 Speaker 1: for a while and in order. So it's the same 289 00:15:39,560 --> 00:15:42,040 Speaker 1: thing with Autumn b K. They came to me and says, 290 00:15:42,080 --> 00:15:44,640 Speaker 1: we would like to do a watch with you, and 291 00:15:44,680 --> 00:15:47,600 Speaker 1: then of course one of the greatest watch companies, and 292 00:15:47,640 --> 00:15:50,320 Speaker 1: I said, well that would be great. I said, let's 293 00:15:50,320 --> 00:15:52,560 Speaker 1: do watch. What can we do together? And they said, well, 294 00:15:52,680 --> 00:15:54,640 Speaker 1: you tell us, they said, what I'm doing a movie 295 00:15:54,760 --> 00:15:59,240 Speaker 1: right now? End of Days. I say, how about creating 296 00:15:59,600 --> 00:16:04,600 Speaker 1: a black watch the royal oak, which I love. I said, 297 00:16:04,640 --> 00:16:07,120 Speaker 1: the royal oak, and we make it all black. And 298 00:16:07,120 --> 00:16:09,200 Speaker 1: they said, the way it's a don't all black? Would 299 00:16:09,200 --> 00:16:13,520 Speaker 1: not sell people like colors. I said, ah, then let's 300 00:16:13,560 --> 00:16:17,240 Speaker 1: go and make the numbers yellow if you like color. 301 00:16:17,680 --> 00:16:20,720 Speaker 1: They said that it's just too simply, wouldn't work out 302 00:16:20,720 --> 00:16:23,400 Speaker 1: a Rather, it was the big thing. Said that's the 303 00:16:23,440 --> 00:16:25,520 Speaker 1: watch that we're gonna do. It's gonna call be called 304 00:16:25,600 --> 00:16:28,880 Speaker 1: the End of Days watch, and that's it and that's all. 305 00:16:29,760 --> 00:16:32,360 Speaker 1: And then they said, oh god, okay, we want to 306 00:16:32,360 --> 00:16:35,040 Speaker 1: do watch me no matter what they say, Okay, okay. 307 00:16:35,040 --> 00:16:37,480 Speaker 1: So they did it and they immediately called me back 308 00:16:37,520 --> 00:16:39,960 Speaker 1: when the watch came out and says, we are sort 309 00:16:40,000 --> 00:16:43,320 Speaker 1: out anyone's through the roof. How did you know that? 310 00:16:43,560 --> 00:16:50,560 Speaker 1: So anyway, the bottom line is I realized that you 311 00:16:50,600 --> 00:16:55,120 Speaker 1: can make millions of dollars in the watch business if 312 00:16:55,160 --> 00:16:59,200 Speaker 1: you involved in the design. I went over there to 313 00:16:59,240 --> 00:17:04,080 Speaker 1: automobic to the factory and they put on my white 314 00:17:04,119 --> 00:17:07,560 Speaker 1: coat and the mask around the mouth, and how the 315 00:17:07,680 --> 00:17:12,280 Speaker 1: scientists they are round around the mechanics noticed stuff so 316 00:17:12,320 --> 00:17:15,040 Speaker 1: that there's nothing that gets down on any of the 317 00:17:15,119 --> 00:17:17,840 Speaker 1: mechanisms of the watches, and it's a gimmick, probably a 318 00:17:17,880 --> 00:17:20,000 Speaker 1: lot of it, but I mean that the bottom line is, 319 00:17:20,280 --> 00:17:22,560 Speaker 1: you know, I went to the whole thing and to 320 00:17:22,640 --> 00:17:26,040 Speaker 1: show people that are actually sitting there with the watch 321 00:17:26,119 --> 00:17:29,160 Speaker 1: designer and we're designing the watch, because at that point 322 00:17:29,200 --> 00:17:32,800 Speaker 1: now we were designing the Terminator three watch, and so 323 00:17:32,880 --> 00:17:34,879 Speaker 1: this is how it went from one watch to the 324 00:17:34,920 --> 00:17:37,040 Speaker 1: next week. Then after that we did the sixth Day 325 00:17:37,080 --> 00:17:39,960 Speaker 1: Watch and the Day's Watch, the Terminator Watch, and when 326 00:17:40,240 --> 00:17:43,520 Speaker 1: every movie did the watch. Now the millions of dollars 327 00:17:43,560 --> 00:17:47,960 Speaker 1: that I get paid for this was actually not for myself. 328 00:17:48,720 --> 00:17:51,600 Speaker 1: It was for the after school programs. So I said 329 00:17:51,600 --> 00:17:55,080 Speaker 1: to myself, I'm gonna go and have my favorite charity 330 00:17:55,160 --> 00:17:57,320 Speaker 1: we just started in the nineties, and said, all of 331 00:17:57,359 --> 00:17:59,480 Speaker 1: the money that I'm gonna make with the watches, I'm 332 00:17:59,480 --> 00:18:03,399 Speaker 1: gonna put into the charity after school programs for those kids, 333 00:18:03,520 --> 00:18:06,159 Speaker 1: because the kids are best investment, right. So that was 334 00:18:06,200 --> 00:18:09,080 Speaker 1: the idea and all of my Bika was very very 335 00:18:09,080 --> 00:18:12,120 Speaker 1: happy with that idea that I wasn't selfish just thinking 336 00:18:12,119 --> 00:18:14,920 Speaker 1: about myself, So they made any deal that I wanted 337 00:18:14,960 --> 00:18:17,080 Speaker 1: to make, I said, tells so many millions of dollars 338 00:18:17,080 --> 00:18:19,000 Speaker 1: for this watch, tells so many millions of dollars, but 339 00:18:19,119 --> 00:18:21,120 Speaker 1: this watch, and they just paid it because they said 340 00:18:21,119 --> 00:18:22,399 Speaker 1: it's for a good cause. I know this is not 341 00:18:22,480 --> 00:18:25,560 Speaker 1: taking it themselves. So this is another concept. Okay, did 342 00:18:25,600 --> 00:18:28,360 Speaker 1: the way you go, you know, kind of against synergy 343 00:18:28,600 --> 00:18:30,920 Speaker 1: where you go beyond just you know, making money, but 344 00:18:31,119 --> 00:18:33,239 Speaker 1: how you can donate the money and their whole thing. 345 00:18:33,320 --> 00:18:35,159 Speaker 1: But anyway, it was in the watch business, it was 346 00:18:35,240 --> 00:18:38,719 Speaker 1: like that. And with the airplane deal, I remember it 347 00:18:38,800 --> 00:18:41,639 Speaker 1: was like that when the Singapore Airline says said, you know, 348 00:18:41,720 --> 00:18:44,320 Speaker 1: we don't want to own all of our planes. We 349 00:18:44,400 --> 00:18:47,000 Speaker 1: want to go and have someone else buy the plane, 350 00:18:47,320 --> 00:18:50,240 Speaker 1: remember that, Paul. And then they said, you won't have 351 00:18:50,280 --> 00:18:53,000 Speaker 1: someone else buy the plane. Some institution and pensions or 352 00:18:53,040 --> 00:18:57,520 Speaker 1: whatever they buy the plane and we least it. So 353 00:18:57,640 --> 00:19:01,679 Speaker 1: I said, why shouldn't I have a Singapore Land plane? 354 00:19:01,960 --> 00:19:03,600 Speaker 1: You know I have the money to buy it was 355 00:19:03,600 --> 00:19:09,000 Speaker 1: a hundred exactly. So to we bought a plane and 356 00:19:09,119 --> 00:19:12,600 Speaker 1: Paul made the deal. We palled, we bought the plane, 357 00:19:13,040 --> 00:19:17,000 Speaker 1: and we had the most extraordinary investment. Because now not 358 00:19:17,119 --> 00:19:20,679 Speaker 1: ten years later then it is it is you know, 359 00:19:20,880 --> 00:19:23,560 Speaker 1: you have to plane. Now the least is over. Now 360 00:19:23,560 --> 00:19:25,680 Speaker 1: you can go and sell it. But they now it's 361 00:19:25,720 --> 00:19:28,399 Speaker 1: it's of course it's a devalued down to sixty million 362 00:19:28,440 --> 00:19:32,320 Speaker 1: dollars hundred thirty four million dollars, but now the plane 363 00:19:32,359 --> 00:19:34,399 Speaker 1: still sort for a hundred million to night, I mean 364 00:19:34,440 --> 00:19:37,560 Speaker 1: the extra forty million dollar investment, not even talking about 365 00:19:37,600 --> 00:19:39,560 Speaker 1: all the write offs that you had, because I had 366 00:19:39,600 --> 00:19:42,359 Speaker 1: my own private plane of course that I flew around 367 00:19:42,359 --> 00:19:44,879 Speaker 1: with all the right offs there. So this was a 368 00:19:45,080 --> 00:19:49,680 Speaker 1: huge deal. But we literally tripled out quite tripled our 369 00:19:49,760 --> 00:19:52,040 Speaker 1: money in the short period of time. So anyway, so 370 00:19:52,080 --> 00:19:54,439 Speaker 1: there's the kind of things that I do and then 371 00:19:54,520 --> 00:19:57,359 Speaker 1: Paul helps me with and the idea of it all 372 00:19:57,640 --> 00:20:03,199 Speaker 1: is that all. And I think we're celebrating kind of 373 00:20:03,240 --> 00:20:07,280 Speaker 1: like Main Street Advices because it has been now in 374 00:20:07,400 --> 00:20:11,040 Speaker 1: operation for how long twenty five years now, And we 375 00:20:11,119 --> 00:20:13,960 Speaker 1: talked about that how he now for twenty five years 376 00:20:14,240 --> 00:20:20,320 Speaker 1: has helped other celebrities that don't have the talent of this, 377 00:20:21,119 --> 00:20:24,600 Speaker 1: not because they're idiots, they're smart, but it's just a 378 00:20:24,680 --> 00:20:27,919 Speaker 1: special talent. It's like having a talent of playing basketball, 379 00:20:28,000 --> 00:20:31,359 Speaker 1: being a bodybuilding champion of wait, and then they don't. 380 00:20:31,440 --> 00:20:33,480 Speaker 1: You're not born right away with the same talent of 381 00:20:33,520 --> 00:20:37,120 Speaker 1: being a businessman and understanding numbers. And so Paul has 382 00:20:37,160 --> 00:20:40,639 Speaker 1: been helping those guys. Uh. And Paul can tell you 383 00:20:40,680 --> 00:20:44,240 Speaker 1: about the whole list of celebrities that then music, that 384 00:20:44,400 --> 00:20:48,359 Speaker 1: then sports, then you know, in various different sports people 385 00:20:48,400 --> 00:20:50,879 Speaker 1: that are record produces, people that are in the record 386 00:20:50,920 --> 00:20:54,760 Speaker 1: business in different business but their talent is to produce records, 387 00:20:55,320 --> 00:20:59,520 Speaker 1: not necessarily how to do business and in artists and 388 00:20:59,600 --> 00:21:01,320 Speaker 1: all of the and stuff. So Paul can talk more 389 00:21:01,320 --> 00:21:02,840 Speaker 1: about that. But I mean, I mean that is the 390 00:21:02,920 --> 00:21:06,600 Speaker 1: fascinating thing about Paul is that he adopted to this. 391 00:21:06,640 --> 00:21:08,720 Speaker 1: It was a new idea, but I knew he's gonna 392 00:21:08,720 --> 00:21:12,760 Speaker 1: adopt and then only adopt, but also then add his 393 00:21:12,920 --> 00:21:16,000 Speaker 1: intelligence and his know how do the whole thing and 394 00:21:16,040 --> 00:21:19,399 Speaker 1: then make two and two become six. You know, so 395 00:21:19,480 --> 00:21:26,000 Speaker 1: he defined math. I would say, uh, not being modest 396 00:21:26,000 --> 00:21:29,160 Speaker 1: about it, I'm honest about it. I think I've very 397 00:21:29,240 --> 00:21:33,119 Speaker 1: carefully chosen the people that I worked with, is Arnold. 398 00:21:33,480 --> 00:21:37,639 Speaker 1: It's kind of my model to be people who do 399 00:21:37,880 --> 00:21:41,760 Speaker 1: have that business gene and they may not have the 400 00:21:41,880 --> 00:21:46,000 Speaker 1: finance background or the some of them may be great 401 00:21:46,000 --> 00:21:47,960 Speaker 1: at math. Some of them aren't, but they have the 402 00:21:48,000 --> 00:21:52,080 Speaker 1: business gene because when you don't have that gene, then 403 00:21:52,119 --> 00:21:55,160 Speaker 1: it becomes very hard to work. And I learned from Arnold. 404 00:21:55,640 --> 00:22:00,080 Speaker 1: I'd say, you know that that as looking for clients, 405 00:22:00,119 --> 00:22:02,720 Speaker 1: that the people that I work with they have to 406 00:22:02,800 --> 00:22:07,200 Speaker 1: have that instinct because otherwise they don't get it. And 407 00:22:07,280 --> 00:22:09,679 Speaker 1: the people that I work with do get it. And 408 00:22:10,200 --> 00:22:12,959 Speaker 1: a lot of it is time. People who are you know, 409 00:22:13,080 --> 00:22:16,800 Speaker 1: athletes musicians actively don't necessarily a time, but they have 410 00:22:16,880 --> 00:22:20,239 Speaker 1: to have the instinct. And also in some cases they 411 00:22:20,280 --> 00:22:23,440 Speaker 1: have other people around them who were really good at business. 412 00:22:23,480 --> 00:22:26,359 Speaker 1: So but but I learned a lot of this from Arnold, 413 00:22:26,359 --> 00:22:31,000 Speaker 1: and I built this business based on lessons like work 414 00:22:31,080 --> 00:22:34,720 Speaker 1: with someone who gets it and who has that instinct 415 00:22:34,800 --> 00:22:39,080 Speaker 1: and that um aptitude. Also, which he hasn't said, but 416 00:22:39,160 --> 00:22:42,320 Speaker 1: which is the lesson I think that he most importantly 417 00:22:42,400 --> 00:22:46,320 Speaker 1: drilled into me at the beginning was authenticity, Like, don't 418 00:22:46,359 --> 00:22:49,520 Speaker 1: do anything that is an authentic for the person. So 419 00:22:49,720 --> 00:22:54,080 Speaker 1: if you have, you know, like when we did Beats 420 00:22:54,080 --> 00:22:56,880 Speaker 1: by Dr Drey with Jimmy and Dre, well, what could 421 00:22:56,920 --> 00:23:00,160 Speaker 1: be more authentic than uh, you know, a muse sick 422 00:23:00,200 --> 00:23:02,960 Speaker 1: producer and a label executive, was also a producer and 423 00:23:02,960 --> 00:23:05,440 Speaker 1: also an engineer. Come out with a headphone. You can't 424 00:23:05,480 --> 00:23:10,800 Speaker 1: get more authentic, right, And so all all of the 425 00:23:10,840 --> 00:23:13,520 Speaker 1: things that we've tried to do sort of tried to 426 00:23:13,520 --> 00:23:16,640 Speaker 1: stay in that lane. And as I said, I learned 427 00:23:16,640 --> 00:23:20,080 Speaker 1: a lot of that from Arnold. But again, if if 428 00:23:20,080 --> 00:23:23,880 Speaker 1: you don't have the aptitude, it's very hard. So there 429 00:23:23,920 --> 00:23:26,760 Speaker 1: are a lot of people who have it, they just 430 00:23:26,800 --> 00:23:29,159 Speaker 1: haven't developed it. They haven't had the time, and they 431 00:23:29,200 --> 00:23:31,399 Speaker 1: don't have the people around them, which is where I 432 00:23:31,520 --> 00:23:34,159 Speaker 1: kind of come in. I'm someone around them who can 433 00:23:34,200 --> 00:23:37,159 Speaker 1: help them develop that, and then I can also be 434 00:23:37,240 --> 00:23:40,399 Speaker 1: helped by them because like they may be great at 435 00:23:40,480 --> 00:23:43,359 Speaker 1: marketing or you know, or they may created sales, or 436 00:23:43,359 --> 00:23:46,120 Speaker 1: they may be great at something else in business, which 437 00:23:46,160 --> 00:23:48,240 Speaker 1: is what I found. So if you go, I mean, 438 00:23:48,520 --> 00:23:52,040 Speaker 1: you know, Jimmy Ivy and as good a marketer as 439 00:23:52,080 --> 00:23:55,040 Speaker 1: I think there is in the world, and as a 440 00:23:55,119 --> 00:23:59,159 Speaker 1: label executive just so happens, he's great. This guy is 441 00:23:59,240 --> 00:24:03,000 Speaker 1: like invented marketing, you know. And I think I mentioned 442 00:24:03,000 --> 00:24:06,960 Speaker 1: to you that, you know, in about I was driving 443 00:24:06,960 --> 00:24:09,359 Speaker 1: around on a golf cart with Warren Buffett. We were 444 00:24:09,359 --> 00:24:13,240 Speaker 1: in a like golf tournament together and he I don't know. 445 00:24:13,320 --> 00:24:15,720 Speaker 1: He says, has Arnold doing And I said, oh, he's great. 446 00:24:15,840 --> 00:24:19,280 Speaker 1: You know this is obviously before governor stuff. And he said, 447 00:24:20,119 --> 00:24:24,239 Speaker 1: what a brand? And I was like, what what do 448 00:24:24,240 --> 00:24:28,000 Speaker 1: you mean? Goes Arnold's brand? Because he's an incredible brand. 449 00:24:28,000 --> 00:24:30,399 Speaker 1: He's one of the best brands of the world. It's like, 450 00:24:30,640 --> 00:24:33,720 Speaker 1: really like, I never had thought of that, because people 451 00:24:33,760 --> 00:24:38,240 Speaker 1: didn't talk like that. Like today you go Arnold's brand, 452 00:24:38,359 --> 00:24:41,439 Speaker 1: Lebron's a brand, right of the jay z is a brand, 453 00:24:41,520 --> 00:24:44,760 Speaker 1: like there are people who are brands, and but at 454 00:24:44,800 --> 00:24:47,800 Speaker 1: that time you didn't think like that. And again it 455 00:24:47,840 --> 00:24:51,840 Speaker 1: goes back to the fact because the Mark Spitz or whoever, 456 00:24:52,480 --> 00:24:55,880 Speaker 1: Joe Namath even they were endorsing things, so they were 457 00:24:56,000 --> 00:24:59,879 Speaker 1: endorsing a brand that wasn't their brand. But listening to 458 00:25:00,040 --> 00:25:02,840 Speaker 1: arnold story, one of the geniuses of all that was 459 00:25:03,160 --> 00:25:06,000 Speaker 1: because as he traveled around the world promoting his movies, 460 00:25:06,400 --> 00:25:09,600 Speaker 1: he was building his own brand until he was a brand, 461 00:25:10,000 --> 00:25:12,440 Speaker 1: and his brand was bigger than the movies, than each 462 00:25:12,480 --> 00:25:15,919 Speaker 1: individual movie. And that's where we are today, which is 463 00:25:15,960 --> 00:25:19,720 Speaker 1: why I think when he can do something like the video, 464 00:25:19,800 --> 00:25:22,840 Speaker 1: the Russian video he did. His brand is so big 465 00:25:22,880 --> 00:25:26,400 Speaker 1: all over the world, in Russia everywhere that people know 466 00:25:26,920 --> 00:25:29,800 Speaker 1: when they see him what that stands for. And that's 467 00:25:29,800 --> 00:25:32,239 Speaker 1: the definition of a brand. They know it stands for 468 00:25:32,320 --> 00:25:36,040 Speaker 1: honesty and authenticity and it's not like, oh, it just 469 00:25:36,119 --> 00:25:40,160 Speaker 1: stands for someone who's shilling. And so I've really learned 470 00:25:40,200 --> 00:25:44,119 Speaker 1: that and I've really tried to pick people who are 471 00:25:44,160 --> 00:25:48,200 Speaker 1: authentic to that, you know, and and not ever to 472 00:25:48,440 --> 00:25:52,480 Speaker 1: push like we were developing an Arnold's involved with this 473 00:25:52,560 --> 00:25:56,880 Speaker 1: to a kill a company with Lebron and he's very 474 00:25:56,920 --> 00:26:00,680 Speaker 1: passionate about it, but it's very honest. He loves tequila 475 00:26:00,760 --> 00:26:04,000 Speaker 1: and he loves this tequila. At this point, what's the 476 00:26:04,080 --> 00:26:06,480 Speaker 1: what's the point of pushing things that you're not honestly, 477 00:26:06,920 --> 00:26:09,040 Speaker 1: And yet you look out in the world and what 478 00:26:09,240 --> 00:26:12,000 Speaker 1: you see is a lot of people are sitting agents 479 00:26:12,040 --> 00:26:15,159 Speaker 1: and lawyers and uh, people sitting around going oh, I 480 00:26:15,240 --> 00:26:19,399 Speaker 1: represent so and so I better find some business to build. No, 481 00:26:20,440 --> 00:26:23,159 Speaker 1: wait till they come to you and say, I love 482 00:26:23,960 --> 00:26:29,959 Speaker 1: whatever you know. And another example with Arnold, which I 483 00:26:29,960 --> 00:26:32,760 Speaker 1: I think it's really it's the Hummer example, because that 484 00:26:32,880 --> 00:26:37,520 Speaker 1: was another deal he uh gave of the money to 485 00:26:37,600 --> 00:26:42,560 Speaker 1: charity that but but he was driving around in a 486 00:26:42,680 --> 00:26:46,240 Speaker 1: military hummer trying to push General Motors to build a 487 00:26:46,280 --> 00:26:49,960 Speaker 1: civilian hummer. Well when he when the hummer, the civilian 488 00:26:50,040 --> 00:26:54,719 Speaker 1: hummer came out, nobody doubted he wasn't. He wasn't like 489 00:26:55,119 --> 00:26:59,280 Speaker 1: chilling for Bewick or old SMA, which wouldn't be believable 490 00:26:59,480 --> 00:27:02,199 Speaker 1: maybe or say eighties would be believable or BMW. But 491 00:27:02,520 --> 00:27:06,240 Speaker 1: Hummer was really believed. And so I think sticking to 492 00:27:06,400 --> 00:27:10,679 Speaker 1: that is what works. And you know, in today's world, 493 00:27:11,280 --> 00:27:15,000 Speaker 1: you know, it's it's gone a little sideways because you 494 00:27:15,080 --> 00:27:20,160 Speaker 1: have people who are not celebrities who are so influential, 495 00:27:20,160 --> 00:27:22,560 Speaker 1: they have a hundred and fifty followers and they've never 496 00:27:22,600 --> 00:27:26,920 Speaker 1: done anything actually, and you know, I don't know, it's 497 00:27:26,960 --> 00:27:30,120 Speaker 1: yet to be seen to me whether they can successfully 498 00:27:30,119 --> 00:27:35,240 Speaker 1: build businesses. Obviously, the Kardashians have built some very successful businesses. 499 00:27:35,520 --> 00:27:38,680 Speaker 1: They're kind of in a corn, you know, on another planet. 500 00:27:39,000 --> 00:27:41,840 Speaker 1: But you know, one thing you know is that if 501 00:27:41,880 --> 00:27:45,840 Speaker 1: you understand the brand of a person and they are 502 00:27:45,920 --> 00:27:48,920 Speaker 1: selling something that's authentic to them, it's probably gonna work. 503 00:27:50,119 --> 00:27:53,359 Speaker 1: I think when people see that, they know it is 504 00:27:53,440 --> 00:27:55,600 Speaker 1: really this is what I think with Warren Buffett talked 505 00:27:55,600 --> 00:27:57,879 Speaker 1: about because Warren Buffett, and it came to me, what 506 00:27:57,880 --> 00:27:59,720 Speaker 1: do you think about this with me buying in a 507 00:28:00,520 --> 00:28:03,720 Speaker 1: net Chet? And I said, the it's a great investment. 508 00:28:04,240 --> 00:28:06,320 Speaker 1: And he said when you say that, said because I 509 00:28:06,520 --> 00:28:11,080 Speaker 1: now fly a plane, a private plane, and he said, 510 00:28:11,080 --> 00:28:14,760 Speaker 1: you're doing I said yeah. I said, but that disadvantage 511 00:28:14,800 --> 00:28:17,360 Speaker 1: of the private plane is that you own is simply 512 00:28:17,400 --> 00:28:20,640 Speaker 1: that you are now responsible for the plane. I only 513 00:28:20,680 --> 00:28:22,840 Speaker 1: flied two hundred and fifty hours a year. What about 514 00:28:22,880 --> 00:28:25,960 Speaker 1: the other seven dred and fifty hours? I say, imagine 515 00:28:25,960 --> 00:28:28,639 Speaker 1: now with net Chet, I said, there is fractional ownerships 516 00:28:28,640 --> 00:28:30,639 Speaker 1: that they're offering. Now, I said, you don't have to 517 00:28:30,680 --> 00:28:32,840 Speaker 1: own just the whole plane yourself. You can own just 518 00:28:32,880 --> 00:28:36,080 Speaker 1: a quarter. You're You're right. He bought in the company. 519 00:28:36,440 --> 00:28:38,760 Speaker 1: We started tell him. Then he took me on the road. 520 00:28:39,080 --> 00:28:41,760 Speaker 1: I went to Ireland, within the Scotland, to England, the orders, 521 00:28:41,800 --> 00:28:44,600 Speaker 1: various different castles in everybody we had we had this 522 00:28:44,720 --> 00:28:47,640 Speaker 1: presentation and he dragged me around all over the place 523 00:28:47,800 --> 00:28:51,480 Speaker 1: to talk about my experience with the plane. Why because 524 00:28:51,720 --> 00:28:55,600 Speaker 1: to show authenticity. Authenticity is the most important thing. Here's 525 00:28:55,640 --> 00:28:59,240 Speaker 1: a guy, a celebrity that wants to fly with the 526 00:28:59,280 --> 00:29:03,000 Speaker 1: commercial rain but can't because when he arrives with a 527 00:29:03,000 --> 00:29:05,400 Speaker 1: commercial plane off the ten off flight, he's standing at 528 00:29:05,400 --> 00:29:08,120 Speaker 1: the luggage area and then the people that bombardy him 529 00:29:08,120 --> 00:29:11,040 Speaker 1: with autographs and pictures and this and that, so he 530 00:29:11,160 --> 00:29:13,680 Speaker 1: you know, he can't do all of this and then 531 00:29:13,720 --> 00:29:16,000 Speaker 1: get to the hotel quickly for the press conference. And 532 00:29:16,280 --> 00:29:18,600 Speaker 1: there's so he's flying our private brain and so he 533 00:29:18,680 --> 00:29:22,040 Speaker 1: got it is for me to talk about it enthusiastically 534 00:29:22,320 --> 00:29:26,320 Speaker 1: about private plane flying and the advantages for executives. Is 535 00:29:26,360 --> 00:29:28,720 Speaker 1: it he bought the company and he went through the 536 00:29:28,800 --> 00:29:31,560 Speaker 1: roof and you know, one of course doesn't do anything 537 00:29:31,800 --> 00:29:34,480 Speaker 1: that doesn't go through the roof, so he knows exactly 538 00:29:34,480 --> 00:29:37,280 Speaker 1: how to do that. And he said, I admire him 539 00:29:37,280 --> 00:29:40,480 Speaker 1: so much because he's kind of like really, when I 540 00:29:40,640 --> 00:29:44,120 Speaker 1: visited his office, it was just you could really get 541 00:29:44,160 --> 00:29:47,760 Speaker 1: it with a brilliant man. He is within operation, he 542 00:29:47,800 --> 00:29:49,760 Speaker 1: has in order. So so this is the kind of 543 00:29:49,800 --> 00:29:51,920 Speaker 1: people that I like to study. This is the kind 544 00:29:51,920 --> 00:29:55,000 Speaker 1: of people that I like that that that helped me. 545 00:29:55,040 --> 00:29:57,280 Speaker 1: He was the first one. Of course, they too endorsed 546 00:29:57,320 --> 00:29:59,760 Speaker 1: me when I ragn for governor because he knew that 547 00:29:59,800 --> 00:30:02,440 Speaker 1: I have the business mind. That's why I said, because 548 00:30:02,480 --> 00:30:04,040 Speaker 1: I enjoys it, because you're the only one is the 549 00:30:04,120 --> 00:30:07,400 Speaker 1: business mind amongst those politicians that can go India and 550 00:30:07,480 --> 00:30:10,440 Speaker 1: straighten out the mess. It was really great to work 551 00:30:10,520 --> 00:30:15,480 Speaker 1: with him. But it's all about authenticity. And so as 552 00:30:15,600 --> 00:30:18,160 Speaker 1: you look at this sort of generation coming up, whether 553 00:30:18,240 --> 00:30:22,720 Speaker 1: it's I mean like Lebron and others and even younger 554 00:30:22,920 --> 00:30:26,760 Speaker 1: were at this time where this is a given some 555 00:30:26,920 --> 00:30:31,040 Speaker 1: extent that an athlete, entertainer or a musician, they are 556 00:30:31,120 --> 00:30:33,360 Speaker 1: going to start doing this at a very early age. 557 00:30:33,800 --> 00:30:37,440 Speaker 1: What do you advise them? What's your advice to them? 558 00:30:37,480 --> 00:30:42,080 Speaker 1: If if Paul introduces you to a new young audition, 559 00:30:42,200 --> 00:30:44,840 Speaker 1: what what do you tell them? Help? And I have 560 00:30:44,880 --> 00:30:51,320 Speaker 1: to write students and I feel like I'm in the 561 00:30:51,360 --> 00:31:00,360 Speaker 1: carson right. The thing is because it would cost you money, 562 00:31:01,480 --> 00:31:04,440 Speaker 1: because Paul and Mainstree Advices is not working for free. 563 00:31:05,280 --> 00:31:10,040 Speaker 1: But as I always say that, if someone wants to 564 00:31:10,120 --> 00:31:13,120 Speaker 1: take let's a ten percent of my business, of my 565 00:31:13,400 --> 00:31:18,479 Speaker 1: money that he makes for me, I'm the happiest kind 566 00:31:18,520 --> 00:31:21,640 Speaker 1: of the world that they have not n of money 567 00:31:21,640 --> 00:31:25,560 Speaker 1: that the normally wouldn't have. So the bottom line is 568 00:31:25,920 --> 00:31:29,800 Speaker 1: you need to know that this is a very very 569 00:31:29,800 --> 00:31:33,520 Speaker 1: sophisticated and complicated world out there when it comes to business, 570 00:31:34,360 --> 00:31:37,800 Speaker 1: and it is such an enormous potential that is available 571 00:31:38,680 --> 00:31:41,480 Speaker 1: and the money is that you can make the whatever 572 00:31:41,560 --> 00:31:46,080 Speaker 1: you're into, music, whatever, all? Would they know how he 573 00:31:46,160 --> 00:31:50,520 Speaker 1: can connect you to businesses that it looks organic because 574 00:31:50,560 --> 00:31:53,520 Speaker 1: you're involved in business. If you have a great talent, 575 00:31:53,960 --> 00:31:56,880 Speaker 1: you're going through the roof, you're becoming very popular in 576 00:31:56,880 --> 00:32:01,720 Speaker 1: your business. Make sure not to just think about your business, 577 00:32:01,760 --> 00:32:07,160 Speaker 1: but there's also something like business business, and and and 578 00:32:07,160 --> 00:32:10,840 Speaker 1: and you've got to concentrate on making one dollar and 579 00:32:10,920 --> 00:32:14,040 Speaker 1: the two and you've got to concentrate on Okay, now 580 00:32:14,080 --> 00:32:17,840 Speaker 1: you're twenty two years old and you're making millions of dollars. 581 00:32:19,040 --> 00:32:22,000 Speaker 1: Would you really make those millions of dollars when you're 582 00:32:22,120 --> 00:32:26,360 Speaker 1: sixty five, seventy and seventy five? How would you have 583 00:32:26,560 --> 00:32:32,320 Speaker 1: that money? Then? Someone needs invested today. Someone has to 584 00:32:32,360 --> 00:32:36,240 Speaker 1: be advising you. Someone is to guide you through. Every 585 00:32:36,280 --> 00:32:39,520 Speaker 1: single person. If I go now and I want to 586 00:32:39,600 --> 00:32:47,160 Speaker 1: learn how to do yoga, our hire yoga instructor. Every 587 00:32:47,200 --> 00:32:51,520 Speaker 1: one of those actors that the mostitu stunts, they go 588 00:32:51,720 --> 00:32:54,440 Speaker 1: to stunt guys to stunt coordinated and how to do 589 00:32:54,600 --> 00:32:57,600 Speaker 1: stunts and the same things. With this, you cannot go 590 00:32:57,640 --> 00:32:59,640 Speaker 1: and improvise on this. You've got to go and get 591 00:32:59,680 --> 00:33:02,800 Speaker 1: the help that he's helping you guides through this. That 592 00:33:02,920 --> 00:33:05,360 Speaker 1: is what my advice is that leg I said, it 593 00:33:05,400 --> 00:33:08,800 Speaker 1: doesn't matter who you are. If you're talented and want 594 00:33:08,880 --> 00:33:11,920 Speaker 1: some area in some area and you you're making a 595 00:33:12,000 --> 00:33:14,680 Speaker 1: lot of money, your advice to someone knows how to 596 00:33:14,720 --> 00:33:19,840 Speaker 1: make this money, make you know, multiply this and keep 597 00:33:19,880 --> 00:33:23,560 Speaker 1: it and pay your taxes. In all of this, who's 598 00:33:23,600 --> 00:33:28,120 Speaker 1: the next Arnold Paul? He's one of one? But how 599 00:33:28,160 --> 00:33:31,920 Speaker 1: do you how do you in your business find a 600 00:33:32,000 --> 00:33:38,040 Speaker 1: guy like this? Honestly, he's one of one, and anyone 601 00:33:38,160 --> 00:33:42,360 Speaker 1: who could compare to him, right, I think that would 602 00:33:42,360 --> 00:33:48,120 Speaker 1: be I think Lebron has a lot of character reminds 603 00:33:48,160 --> 00:33:54,680 Speaker 1: me of aout as certain characteristics ever months um and 604 00:33:54,800 --> 00:33:57,920 Speaker 1: that he's definitely not as good looking, You're not as tall, 605 00:33:57,960 --> 00:34:01,560 Speaker 1: it's embarrassed, but he has certain some of the same characteristics, 606 00:34:01,600 --> 00:34:05,920 Speaker 1: which are you know which drive success? I mean, you 607 00:34:05,960 --> 00:34:09,319 Speaker 1: look at it, Lebron, you look at him and their 608 00:34:09,520 --> 00:34:13,239 Speaker 1: unicorns right there. There's just you know, Lebron's obviously a 609 00:34:13,239 --> 00:34:18,719 Speaker 1: lot younger, and he hasn't had three giant careers. But 610 00:34:18,719 --> 00:34:23,719 Speaker 1: but the fact is he's breaking barriers and what he does, 611 00:34:24,080 --> 00:34:27,800 Speaker 1: whether it's business wise or whether it's on the court. 612 00:34:27,960 --> 00:34:32,080 Speaker 1: I mean, it's thirty seven year old, you know. I 613 00:34:32,120 --> 00:34:35,200 Speaker 1: think Arnold is a model or I mean he's been 614 00:34:35,239 --> 00:34:37,439 Speaker 1: a model for me for my business, but I think 615 00:34:37,440 --> 00:34:39,560 Speaker 1: he's a model for a lot of other people out there. 616 00:34:39,600 --> 00:34:41,759 Speaker 1: I think a lot of people look up to him 617 00:34:41,840 --> 00:34:45,920 Speaker 1: and they understand that he he broke a lot of 618 00:34:46,000 --> 00:34:50,319 Speaker 1: barriers and changed the game. Um. So you know, but 619 00:34:50,480 --> 00:34:54,440 Speaker 1: even like, um, you know, at smaller levels, like I 620 00:34:54,480 --> 00:34:58,960 Speaker 1: worked with Billie Eilish. You know she she for example, 621 00:34:59,480 --> 00:35:04,040 Speaker 1: she gets authentic, right, she gets authentic. You know, we 622 00:35:04,160 --> 00:35:09,160 Speaker 1: I helped her develop a fragrance. She has been obsessed 623 00:35:09,160 --> 00:35:13,440 Speaker 1: with fragrance that she was ten years old. So she 624 00:35:13,880 --> 00:35:18,120 Speaker 1: gets offers every day from every crypto company, every company 625 00:35:18,160 --> 00:35:20,839 Speaker 1: you can think of. Right, She's probably the biggest star 626 00:35:20,920 --> 00:35:25,919 Speaker 1: in the world, star one of the biggest, and she 627 00:35:26,120 --> 00:35:30,879 Speaker 1: does she did fragrance because she loves fragrance. Right. Um, 628 00:35:30,960 --> 00:35:34,440 Speaker 1: so I think that that lesson of authenticity, which is 629 00:35:34,480 --> 00:35:38,839 Speaker 1: lost on many people. I try and keep that with 630 00:35:38,920 --> 00:35:42,560 Speaker 1: my clients, but for some like her, it's natural. So 631 00:35:42,760 --> 00:35:44,719 Speaker 1: how can you You can't compare a twenty year old 632 00:35:44,719 --> 00:35:48,399 Speaker 1: girl and says she's arnold, but there's certain things about her. 633 00:35:48,520 --> 00:35:52,239 Speaker 1: She's real and authentic and true to herself. That's what 634 00:35:52,320 --> 00:35:55,759 Speaker 1: he is. Lebron is, That's what I see, that's what 635 00:35:55,840 --> 00:35:59,840 Speaker 1: I look for. But honestly, he's the O G. He 636 00:36:00,160 --> 00:36:03,200 Speaker 1: is And if you ask any of my clients who's 637 00:36:03,239 --> 00:36:05,200 Speaker 1: the O G, they know that he's the O G. 638 00:36:05,440 --> 00:36:09,200 Speaker 1: Because in many ways, you know, he broke a lot 639 00:36:09,200 --> 00:36:12,520 Speaker 1: of molds and this whole idea of started talking about 640 00:36:12,520 --> 00:36:16,160 Speaker 1: the business thing. You know, that's a big deal. That 641 00:36:16,360 --> 00:36:19,759 Speaker 1: that's a big thing. That the idea of a celebrity 642 00:36:19,840 --> 00:36:22,439 Speaker 1: influence or whatever you wanna call it owning their own 643 00:36:22,480 --> 00:36:25,440 Speaker 1: business and building their business as opposed to just endorsing 644 00:36:25,719 --> 00:36:28,319 Speaker 1: that is a big deal. That has made a lot 645 00:36:28,360 --> 00:36:31,279 Speaker 1: of money for a lot of people. You know, Jay 646 00:36:31,360 --> 00:36:35,759 Speaker 1: Z sold Randy this year. And you know, there's all 647 00:36:35,800 --> 00:36:38,560 Speaker 1: these businesses out there that are where there's real there's 648 00:36:38,560 --> 00:36:40,480 Speaker 1: also a lot of ones that fail, and there's a 649 00:36:40,480 --> 00:36:42,959 Speaker 1: lot of ones that let's say they succeed and they don't. 650 00:36:43,320 --> 00:36:47,080 Speaker 1: But not everything succeeds. But the fact is that the 651 00:36:47,080 --> 00:36:49,320 Speaker 1: fact that you can do it and that you should 652 00:36:49,360 --> 00:36:52,520 Speaker 1: do it. But what he said before is really important. 653 00:36:53,080 --> 00:36:56,319 Speaker 1: You need to start with an idea, not with I 654 00:36:56,400 --> 00:36:59,360 Speaker 1: want to do a bit. I see all the time. 655 00:36:59,440 --> 00:37:01,520 Speaker 1: I want him I want to do a business, because 656 00:37:01,520 --> 00:37:03,600 Speaker 1: I'm supposed to do a business, as opposed to I 657 00:37:03,600 --> 00:37:06,879 Speaker 1: have an idea. How do I execute that idea? Who 658 00:37:06,880 --> 00:37:10,000 Speaker 1: do I have around me to execute the idea? What? 659 00:37:10,680 --> 00:37:14,080 Speaker 1: How authentic am I in that idea? So that's it. 660 00:37:14,160 --> 00:37:16,600 Speaker 1: But I mean, I think you know I as you know, 661 00:37:16,760 --> 00:37:19,040 Speaker 1: and you can tell you know I. I have a 662 00:37:19,160 --> 00:37:22,520 Speaker 1: tremendous amount of respect. But I learned so much from 663 00:37:22,640 --> 00:37:26,799 Speaker 1: Arnold because this was when I first met him. He 664 00:37:26,840 --> 00:37:29,120 Speaker 1: was really right at the end of his body built. 665 00:37:30,960 --> 00:37:34,600 Speaker 1: Really wasn't any different. All these things he's talking about 666 00:37:34,640 --> 00:37:39,040 Speaker 1: today he was talking about and I really learned a 667 00:37:39,040 --> 00:37:42,520 Speaker 1: lot because I I didn't come from you know, marketing. 668 00:37:42,560 --> 00:37:45,080 Speaker 1: I didn't come I didn't come from celebrity. I came 669 00:37:45,160 --> 00:37:48,239 Speaker 1: from Wall Street. That's a very different thing. And law, 670 00:37:48,880 --> 00:37:51,040 Speaker 1: so you know, you have to learn these things. So 671 00:37:51,160 --> 00:37:54,960 Speaker 1: I had a great thing. Any final thoughts aren't all 672 00:37:56,440 --> 00:38:01,080 Speaker 1: that's a little commercially expectancy for fruit. And it just 673 00:38:01,120 --> 00:38:05,239 Speaker 1: shows you the power that you just because if you're 674 00:38:05,320 --> 00:38:07,960 Speaker 1: like me that if you feel comfortable, it's kind of 675 00:38:08,000 --> 00:38:10,200 Speaker 1: like if it is not broken, don't fix it. So 676 00:38:10,440 --> 00:38:12,719 Speaker 1: you know, if you works. I put it on, I 677 00:38:12,719 --> 00:38:14,960 Speaker 1: couldn't even compared to anything else because I never used 678 00:38:15,000 --> 00:38:18,200 Speaker 1: anything else. So I have now fifty two years lay 679 00:38:18,200 --> 00:38:21,360 Speaker 1: I'm still doing. So this is the power of celebrity 680 00:38:21,520 --> 00:38:24,719 Speaker 1: if you connect with the product. All right, well, let 681 00:38:24,719 --> 00:38:27,680 Speaker 1: me ask you one more question, because I very generous 682 00:38:27,680 --> 00:38:31,360 Speaker 1: with both of you. All these things that you identified 683 00:38:32,120 --> 00:38:36,640 Speaker 1: are very critical, almost like fight geist mom right that 684 00:38:36,719 --> 00:38:40,360 Speaker 1: I think they're happening in the broader culture. What do 685 00:38:40,440 --> 00:38:44,120 Speaker 1: you see now as you think about like the business 686 00:38:44,239 --> 00:38:47,120 Speaker 1: lens of Arnold, Like, what are you seeing out there 687 00:38:47,160 --> 00:38:51,440 Speaker 1: now that excites? I think the apportunit is there. I 688 00:38:51,480 --> 00:38:54,880 Speaker 1: think the opportunities are multiplying. I think that with the 689 00:38:54,920 --> 00:38:58,600 Speaker 1: social media now it is opened up a whole new world. 690 00:38:58,920 --> 00:39:02,080 Speaker 1: I think there's such wonderful kind of synergy that that 691 00:39:02,200 --> 00:39:04,960 Speaker 1: can happen. I think we have to just be creative 692 00:39:05,080 --> 00:39:11,919 Speaker 1: and creative. Remember that you can work. I've worked for many, 693 00:39:11,960 --> 00:39:17,920 Speaker 1: many years from morning to night as a bricklayer working 694 00:39:17,920 --> 00:39:22,040 Speaker 1: on construction when it first came to America and we 695 00:39:22,160 --> 00:39:27,040 Speaker 1: made you know, let's say hundred dollars a day in 696 00:39:27,040 --> 00:39:34,480 Speaker 1: the seventies. But all of that work, one good idea 697 00:39:36,440 --> 00:39:42,680 Speaker 1: is the equivalent of ten years working every day on construction, 698 00:39:42,960 --> 00:39:46,080 Speaker 1: just one good idea. That this is why I always say, 699 00:39:46,280 --> 00:39:51,680 Speaker 1: you cannot go and work enough to make up for 700 00:39:52,200 --> 00:39:54,719 Speaker 1: what idea spring. And so if you get a good 701 00:39:54,760 --> 00:39:58,040 Speaker 1: idea and how to start a business or what business 702 00:39:58,080 --> 00:40:00,480 Speaker 1: it ought to be, what you deals should be an 703 00:40:00,480 --> 00:40:04,319 Speaker 1: offense kind of things. Um, that is where the money is. 704 00:40:05,000 --> 00:40:07,359 Speaker 1: And so that that's why I say, peopould say the music. 705 00:40:07,480 --> 00:40:10,040 Speaker 1: Do you think there's still all these opportunities out there 706 00:40:10,080 --> 00:40:13,160 Speaker 1: that you once had? Would you still be a successful 707 00:40:13,200 --> 00:40:15,200 Speaker 1: if you would come up with the data America? I 708 00:40:15,280 --> 00:40:20,000 Speaker 1: say absolutely, this is still the land of opportunity, especially 709 00:40:20,040 --> 00:40:22,120 Speaker 1: now that we have a choice. You can go and 710 00:40:22,160 --> 00:40:25,360 Speaker 1: go all in and being just American products and just 711 00:40:25,440 --> 00:40:28,720 Speaker 1: American company, or you want to go global, you can global. 712 00:40:28,880 --> 00:40:31,600 Speaker 1: You have the choices today. That is the great thing. 713 00:40:32,000 --> 00:40:35,399 Speaker 1: And it is unbelievable about the stuff that is out there. 714 00:40:35,640 --> 00:40:37,480 Speaker 1: Look at the amount of money that the people are 715 00:40:37,480 --> 00:40:39,680 Speaker 1: making every day. You have to do the right move. 716 00:40:39,840 --> 00:40:42,920 Speaker 1: So I have great hope. I think the key thing 717 00:40:42,960 --> 00:40:44,919 Speaker 1: is that we get the group that the right help. 718 00:40:45,560 --> 00:40:48,920 Speaker 1: And that's why I always say, and any of my 719 00:40:49,080 --> 00:40:54,239 Speaker 1: kind of success speeches, I always say, remember I'm not 720 00:40:54,360 --> 00:40:57,440 Speaker 1: a self made man. What you see in front of 721 00:40:57,440 --> 00:41:02,879 Speaker 1: you is a creation by thousands of people, and it's 722 00:41:02,880 --> 00:41:06,440 Speaker 1: still a work in progress. You know, because if I 723 00:41:06,480 --> 00:41:09,920 Speaker 1: think about the teachers that helped me, My parents did 724 00:41:10,040 --> 00:41:13,000 Speaker 1: help me. The coaches that helped me, Joe we are 725 00:41:13,040 --> 00:41:16,520 Speaker 1: bringing me to America, been Weeda, you know, exploring me 726 00:41:16,560 --> 00:41:18,719 Speaker 1: and and kind of helping me with the FTB within 727 00:41:18,719 --> 00:41:21,759 Speaker 1: in the National Federation of Bodybuilding, Franco Colombo that was 728 00:41:21,840 --> 00:41:24,279 Speaker 1: training with me, Paul walked that it was helping me 729 00:41:24,320 --> 00:41:27,200 Speaker 1: with my investments. I mean it goes the list goes 730 00:41:27,360 --> 00:41:30,120 Speaker 1: on and on and on. President Bush that maybe the 731 00:41:30,160 --> 00:41:32,759 Speaker 1: chairman of the President's Counsel and Fitness which made me 732 00:41:32,800 --> 00:41:35,600 Speaker 1: travel all over the United States. It was like the 733 00:41:35,760 --> 00:41:39,400 Speaker 1: California people five point eight million people that voted for 734 00:41:39,440 --> 00:41:41,640 Speaker 1: me to become governor. How can I ever say I'm 735 00:41:41,640 --> 00:41:44,759 Speaker 1: a self made man I would have. I cannot make 736 00:41:44,880 --> 00:41:48,400 Speaker 1: myself to be governor. So all of these millions and 737 00:41:48,440 --> 00:41:51,120 Speaker 1: millions of people, and thousands of them they were closely 738 00:41:51,239 --> 00:41:55,640 Speaker 1: working with me helped me. So get help. Don't be 739 00:41:55,680 --> 00:41:58,040 Speaker 1: afraid of asking to get help. This is where the 740 00:41:58,080 --> 00:42:01,520 Speaker 1: action is to reach out and get helped. My thanks 741 00:42:01,520 --> 00:42:04,719 Speaker 1: to Arnold Schwarzenegger and Paul Walkeder for their time and insights. 742 00:42:05,120 --> 00:42:07,960 Speaker 1: You've been listening to a special edition of Masters in Business. 743 00:42:08,280 --> 00:42:11,520 Speaker 1: I'm Jason Kelly. For more on Paul walker and his 744 00:42:11,600 --> 00:42:15,080 Speaker 1: work advising Arnold, Lebron and Moore, check out our story 745 00:42:15,120 --> 00:42:17,880 Speaker 1: about main Street advisors on the Bloomberg Terminal and at 746 00:42:17,920 --> 00:42:20,040 Speaker 1: Bloomberg dot com. Thanks for listening.