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Speaker 3: our university, we use instructors that are currently successful in

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Speaker 5: My graduates from my school being forced back.

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Speaker 2: Drop drop, Mike, drop back dry. All right, guys, welcome

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Speaker 2: back EYL.

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Speaker 4: We are in La Sunny, Los Angeles, and this is

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Speaker 4: something that we've been looking forward to for a while.

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Speaker 4: It's gonna be a dope conversation. So healthcare is actually

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Speaker 4: fitting because we just spoke about this on Market Monday's House,

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Speaker 4: just thinking that healthcare is the biggest business in the world.

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Speaker 4: It makes up twenty four percent of the American budget,

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Speaker 4: which is the biggest by far. Second to that as

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Speaker 4: the military, I think of like fifteen percent. So when

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Speaker 4: you think of businesses, a lot of time we think

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Speaker 4: of you know, a lot of different industries, but people

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Speaker 4: don't necessarily think of healthcare as a business. It is

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Speaker 4: a business. The biggest business is recession proof. It's everything proved,

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Speaker 4: big business. People always die, people always go to the hospital,

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Speaker 4: people always you know, get sick. So it's one of

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Speaker 4: the things that has been around since the beginning of time,

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Speaker 4: so isn't going anywhere. So today we have the privilege

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Speaker 4: of speaking with not just any entrepreneur, an entrepreneur that

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Speaker 4: has been in the business for a very long period

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Speaker 4: of time and has been extremely successful. Tommy Duncan. So

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Speaker 4: you might have heard him when we when we mentioned

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Speaker 4: his name in the Rick Ross interview. He has a

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Speaker 4: company called jet Doc and Rick Ross is an investor.

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Speaker 4: I think he invested like a million dollars into the company, right,

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Speaker 4: and so we mentioned him during that interview and we

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Speaker 4: spoke about it briefly. But he has a vast career

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Speaker 4: in the health industry. He actually sold his first company

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Speaker 4: a while back, need about a million million, and a

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Speaker 4: half and then he sold this other company and then

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Speaker 4: did a whole bunch more money. Yeah, over one hundred millions. Yeah, yeah,

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Speaker 4: for sure. So and now he started jet doc. So

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Speaker 4: it's a very interesting conversation, I'm sure, a very educational conversation.

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Speaker 4: And we'll be remiss if we didn't acknowledge our brother

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Speaker 4: Dame Dash, who we have a mutual relationship with. So

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Speaker 4: game actually just wrapped up a movie on Tommy's life

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Speaker 4: called The Prince of Detroit's Right. So shout out to

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Speaker 4: my brother, Dame Dash. We was at his house yesterday

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Speaker 4: and he showed us the trailer to the movie and

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Speaker 4: he was very excited about it. He's very excited about

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Speaker 4: you as an entrepreneur. You know, gave us some background information.

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Speaker 4: So shout out to Day. Yeah, shout out to Day.

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Speaker 4: So first and foremost, thank you for joining us. Appreciate it.

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Speaker 6: Hey, no, it's good to be here, man, and it's

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Speaker 6: at Prince of Detroit Film on I G Yeah, okay,

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Speaker 6: you check it out. But here's something that's funny. You

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Speaker 6: talk about healthcare. It is by far the largest economic

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Speaker 6: injury in this country, but it's ugly money, so no

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Speaker 6: one really pays attention to pays attention to it. You know,

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Speaker 6: it's not entertainment anything sexy like that. But I just

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Speaker 6: got back from Paris for fashion Week, so that the

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Speaker 6: hottest show Balmon and I was there with a group

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Speaker 6: of ten couples which were the VIP clients for the country,

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Speaker 6: and out of those ten couples, at least five of

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Speaker 6: the dudes we're in health care. So you think about fashion,

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Speaker 6: all the sexy shit. You know, Cardi's there all set

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Speaker 6: and all that stuff. Yeah, that's part of it too.

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Speaker 6: But the folks with the money is actually spending in healthcare. Right, So,

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Speaker 6: like Rashad, I live ten minutes from where we are,

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Speaker 6: and my neighbors most of them are in health care.

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Speaker 2: That's interesting. We're in Hollywood. In Hollywood, they in healthcare. Yeah,

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Speaker 2: so how did you get started?

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Speaker 4: You're a black man from Detroit, Michigan, So how did

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Speaker 4: you get started in healthcare? Because the interesting thing that

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Speaker 4: Dane was telling us, he was like, make sure you're

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Speaker 4: asked him about this, Like it was like his family

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Speaker 4: is already in the business, Like he actually already had

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Speaker 4: the information and the knowledge and he grew up in

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Speaker 4: the industry. And that's something that's very rare, especially in

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Speaker 4: our community, Like we don't even go to the doctor

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Speaker 4: majority of the time, and we have a bad relationship

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Speaker 4: with medicine unfortunately and doctors, so let alone actually being

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Speaker 4: in the business. So how did that go about as

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Speaker 4: far as your family and and you growing up in that?

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Speaker 2: Yeah, so I did you know?

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Speaker 6: My mother was always been in healthcare and she got

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Speaker 6: with my stepfather in about nineteen ninety, so the time

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Speaker 6: I was ten years old and he was entrepreneurial, she

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Speaker 6: was academic. They came together and ended up buying a hospital.

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Speaker 6: It's one of the last black, for profit, black owned hospitals.

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Speaker 6: It was called Southwest Detroit Hospital, but they renamed it

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Speaker 6: United Community Hospital. They bought it from hud It was

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Speaker 6: the seventy five million dollar hospital when it was built,

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Speaker 6: but they bought it for two million dollars because it

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Speaker 6: was in receivership bankruptcy. So they bought that, and then

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Speaker 6: they coupled it with a HMO Health Maintenance Organization essentially

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Speaker 6: an insurance company for low income people, people on Medicaid.

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Speaker 6: So they operated that through the nineties and then so

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Speaker 6: they operated I grew up in it, so literally when

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Speaker 6: I was twelve thirteen, fourteen years old. I was on

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Speaker 6: the sales team and I would go door to door

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Speaker 6: in the projects and you know, different communities where there

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Speaker 6: was a large population of people and go door doing

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Speaker 6: ask people to sign up for medicaid. My parents company,

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Speaker 6: it's called Ultimat. So I grew up selling people on

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Speaker 6: health insurance for low income. And then the other time

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Speaker 6: I spent I was actually at the hospital painting the basement,

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Speaker 6: being a janitor and all that kind of stuff. But

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Speaker 6: through that by Osmosis, I learned the business and through

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Speaker 6: the nineties they had a business. I think at their

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Speaker 6: apex they were doing about forty million dollars year in revenue,

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Speaker 6: which at the time was a whole lot of money.

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Speaker 6: You know, now things are different, it's a lot more

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Speaker 6: money out here, but then that was a lot of money.

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Speaker 6: They employed the most black people for any black business,

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Speaker 6: and that's how I grew up.

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Speaker 2: You know.

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Speaker 6: Then I went to Florida and m got my NBA.

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Speaker 2: In five years. You yeah, he went there for yeah? Yeah?

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Speaker 2: Who did my brother? All right? What happened? He got

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Speaker 2: home safe, He went to Saint John's, went back to

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Speaker 2: New York. He got homesick, from fam. I never heard that. Yeah,

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Speaker 2: probably was that around the Saint John. That's just the

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Speaker 2: or it ain't told y'all.

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Speaker 6: You've probably got some babies running around. Your fan was amazing.

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Speaker 6: But I came back with my NBA and I thought

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Speaker 6: I was going to take my family's business to the

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Speaker 6: next level, and unfortunately around the same time, finding up

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Speaker 6: losing everything. So you know what most black businesses do,

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Speaker 6: particularly then without mentorship, which is what you are providing,

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Speaker 6: which is what is missing in our community is mentorship.

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Speaker 6: So what happens for us is those that are entrepreneurial

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Speaker 6: gumption go out and then usually like anybody else, we

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Speaker 6: are met with failure. Right, it doesn't go right, and

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Speaker 6: then a lot of times, unfortunately we don't try again

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Speaker 6: because with scar financially, emotionally and all that kind of shit.

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Speaker 2: Excuse me, all that kind of stuff.

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Speaker 6: But that's what the wisdom is when you have the challenge,

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Speaker 6: and so the right thing to do is come back

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Speaker 6: into it and try again, do it smarter and be successful.

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Speaker 2: But most people, for whatever reason don't do that.

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Speaker 6: But my parents ended up invest everything in the hospital

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Speaker 6: in HMO, so much so that when it all went under,

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Speaker 6: they had no money in the bank, like they put

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Speaker 6: up the house, in the business. They put it all

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Speaker 6: in there, so we had the biggest house in Detroit.

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Speaker 6: They literally put it up trying to save the hospital

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Speaker 6: when they started going under, versus realizing your business is important,

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Speaker 6: but it's not you. It's separate. It's separate dity, so

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Speaker 6: treated as such. But of course they didn't. And then

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Speaker 6: it was just like you know, American gangster.

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Speaker 2: When he sees our huh which part? When he lost

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Speaker 2: the house.

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Speaker 6: And they lost the house, they lost the first and everything.

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Speaker 6: The diamond my mother had a twelve caret diamond ring

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Speaker 6: probably worth a million dollars. Now had to hawket, you

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Speaker 6: know what I'm saying, lost everything But for me. Then

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Speaker 6: I decided, you know, I'm going to take it and

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Speaker 6: just build my own company and live on a legacy.

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Speaker 2: So I did it. So I did that.

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Speaker 6: Twenty six I started my own healthcare company, my first one,

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Speaker 6: and then sold it.

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Speaker 2: By a year later.

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Speaker 6: That wass CCS care compensation specialist.

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Speaker 2: So what was that we'll kind of company was?

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Speaker 6: So there was this dude who used to work for

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Speaker 6: my parents selling insurance, like I remember mentioned going door

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Speaker 6: to door medicaid well, he was a real smooth guy,

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Speaker 6: kind of looked like a Dbar's brother.

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Speaker 2: Name I can't name the name, but anyway.

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Speaker 6: I heard that he had started his own company doing

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Speaker 6: Medicaid enrollment for hospitals. So he had got this partnership

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Speaker 6: with the CEO of a hospital in Detroit, and the

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Speaker 6: whole business was someone's uninsured. By law, the hospital has

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Speaker 6: to take care of him no matter what the case

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Speaker 6: is that they have no ability to pay. But then

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Speaker 6: if you could do the paperwork to get that person

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Speaker 6: enrolled in Medicaid. So the ID you know, doctor Bill's

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Speaker 6: pir certificate, things that proved to the state who they are,

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Speaker 6: Medicaid was in retroactively rembursed the hospital for services, and

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Speaker 6: he would charge like twenty percent of the reimbursement, which

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Speaker 6: you could have a nick you baby cost a million

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Speaker 6: dollar bill be a million dollar bill, right, So if

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Speaker 6: you're getting twin center that he made two one thousand

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Speaker 6: dollars to doing paperwork. He was making so much money

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Speaker 6: it was crazy. Like he literally was married and bought

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Speaker 6: a big house and moved his girlfriend into the house

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Speaker 6: with his.

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Speaker 2: Wife and his kids.

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Speaker 6: She let the girlfriend lived with the that's kind of

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Speaker 6: money he was making everything. You could do anything with

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Speaker 6: enough money.

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Speaker 2: Detroit play.

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Speaker 6: I'm saying, when you're at Detroit like that and not

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Speaker 6: my household ain't gona right, But I'm saying, like a

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Speaker 6: Detroit at the time, he literally moved his girlfriend and

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Speaker 6: with his wife, he had palm trees flown in. He

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Speaker 6: was making money. But my whole thing was in the

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Speaker 6: d where it's called. But the whole thing was he

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Speaker 6: had lost it because they had found out that CEO

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Speaker 6: was in his pocket, or vice versa, and so he

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Speaker 6: lost the contract. And so me, yeah to the street, Okay, boom,

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Speaker 6: I'm gonna go figure out how I'm gonna get the contract.

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Speaker 6: So I went and met with his chief operating officer

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Speaker 6: and persuade her to come work with me, and then

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Speaker 6: I did some other things get a contract, and that's

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Speaker 6: how I started my first company.

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Speaker 3: Can we go back just for a second, because you

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Speaker 3: were obviously were born into the healthcare industry, but you

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Speaker 3: your entrepreneurial journey had a lot of stops. Yeah, right,

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Speaker 3: So I know that that you had the ice cream

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Speaker 3: truck at fam you did you did the fish and sandwich.

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Speaker 3: What did you learn from those businesses that said you

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Speaker 3: know what, this isn't gonna work because you immediately said

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Speaker 3: that didn't work, but you learned.

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Speaker 2: Let me go back to my passion.

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Speaker 6: No, for sure, So ice cream truck, like you said,

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Speaker 6: you know, I was doing that because to my surprise,

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Speaker 6: I mean, how you in Florida don't have ice cream trucks.

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Speaker 6: In Detroit it's cold to much out of the year.

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Speaker 6: You have ice cream trucks during the summertime. So I

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Speaker 6: had my tahoe converted to ice cream truck. I was

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Speaker 6: playing Masterpiece of ice Cream Man, which was you know

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Speaker 6: what I mean, the biggest.

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Speaker 2: Song of the radio at the time.

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Speaker 6: But you had to have like what ice, you had

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Speaker 6: to have hot ice in anyway, then my ice cream

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Speaker 6: was melting and I really didn't like it.

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Speaker 2: Like I was.

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Speaker 6: I enjoyed being a dude who pulled up in the

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Speaker 6: tahoe with the ice cream Man playing, but I didn't

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Speaker 6: like the process of working on the ice cream itself.

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Speaker 6: Then I ended up starting these these uh sandwich shops,

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Speaker 6: the Fries Palm Fritz Fries and the Cone because I

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Speaker 6: was in Amsterdam and the coffee shops drink a lot

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Speaker 6: of coffee came out and I was hungry for whatever reason,

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Speaker 6: and at these fries in the corns, I'm like, I'm

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Speaker 6: about to be the next Ronom McDonald. I'm about to

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Speaker 6: bring this to the United States. I'm about to kill McDonald's.

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Speaker 6: But I came back and I did it, and I

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Speaker 6: quickly realized even though I could grow the business because

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Speaker 6: I could sell, I didn't like coming in, you know,

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Speaker 6: having a machine where it had to cut and peel

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Speaker 6: the fries. There's too much work, and then you have

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Speaker 6: people complained, then the grease gets dirty. It's just I

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Speaker 6: didn't like the businesses, so so even though I had

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Speaker 6: built them, I didn't like it, so they ultimately all failed.

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Speaker 6: Even though I got in the airport, I was twenty two,

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Speaker 6: I had a restaurant in the airport. I was in

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Speaker 6: the malls on the street side next to Florida State.

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Speaker 6: I didn't love the business, so it wasn't working. And

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Speaker 6: then I got lost in the business too, Right, So

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Speaker 6: what can happen if it's not working the way I plan,

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Speaker 6: which be the next Ronom McDonald. I started doing different things.

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Speaker 6: I lost my way. So then I added shrimp to

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Speaker 6: the menu. Right, so you know, black folks love shrimp.

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Speaker 6: I'm up late, I'm open late, and I need to

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Speaker 6: have fries. Well, then I started. I was in Florid,

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Speaker 6: so let me do some Caribbean things. And I had

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Speaker 6: some Caribbean foods, rice and beans. So before you know it,

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Speaker 6: I lost my way with the company with a business,

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Speaker 6: so ultimately failed, but then went back, came back to Detroit,

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Speaker 6: and I came into healthcare because I knew healthcare. I

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Speaker 6: knew it without even knowing that I knew it, you know. Like,

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Speaker 6: so the biggest decisions I made in my last company

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Speaker 6: that I sold, the Blue Cross, I knew just through

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Speaker 6: Osmosi's living, I mean just living my life as a kid,

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Speaker 6: remembering decisions that my parents made in their healthcare business.

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Speaker 3: Yeah, so you ended up selling the first business, right,

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Speaker 3: but you didn't just take cash, right, so it was

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Speaker 3: like a stock option and the.

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Speaker 6: First health care business. Yeah, I got stock options. So

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Speaker 6: it's a funny story. I don't know if you want

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Speaker 6: the whole story, but long story short, this company I

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Speaker 6: was doing back in work because I didn't get a

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Speaker 6: primary contract I was doing back in so basically their

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Speaker 6: primary vendor, they couldn't get folks and road to Medicaid.

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Speaker 6: They gave me the second shot. I was a garbage man.

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Speaker 6: But for me, of course, I got them all to

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Speaker 6: prove because that was my opportunity. And through doing so,

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Speaker 6: this big company who just was on this pathway to

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Speaker 6: go public, had decided they wanted to come visit me

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Speaker 6: and either do one of two things, do a strategic

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Speaker 6: partnership with me. When set of me charging twenty percent

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Speaker 6: of reimbursement, I charged eight to ten percent. But I

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Speaker 6: would get a bigger volume of work or they would

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Speaker 6: buy my company. And so they came to visit me.

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Speaker 6: I was in the shared office space like we worked.

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Speaker 6: I just had one office. We had like two officers

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Speaker 6: in there, and they had a shared conference room. And

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Speaker 6: I paid people to act like they worked from me.

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Speaker 6: You know, I paid like forty bucks a day. I

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Speaker 6: gave them a one pager with you know, three bullet points.

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Speaker 6: This named the company. You know what I'm saying. This

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Speaker 6: is one page, you know, one line of what we do.

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Speaker 6: And anyway, so I sold those folks and I didn't

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Speaker 6: want to actate to work for me, but I sold

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Speaker 6: the people on buy my company and I got stock options.

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Speaker 6: So they made me a senior director. They gave me,

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Speaker 6: which is the time I was spent myself forty grand

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Speaker 6: a year my own company. They paid me two hundred

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Speaker 6: thousand a year. I was twenty seven and it gave

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Speaker 6: me a thousand stock.

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Speaker 4: That's what Dean was telling us. He was like, make

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Speaker 4: sure you asked me about that. He started a company

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Speaker 4: with a virtual regious office and sold the company.

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Speaker 6: I did it twice though. That was my first time.

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Speaker 6: Second time, I want a half billion out of contract.

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Speaker 6: So I was at work, you know what I'm saying

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Speaker 6: by the dumpsters on the phone like snaked, Yeah, and

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Speaker 6: I did that.

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Speaker 2: So how did you had to read this office space?

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Speaker 2: So all right, let's let's get into that situation.

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Speaker 4: So you you you started the company, but in order

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Speaker 4: for the company to be sold, it had to have

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Speaker 4: looked like more than what it actually was, right, So

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Speaker 4: that's why you got the regius office space, which anybody

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Speaker 4: doesn't know region's office space reagis is like a shared office.

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Speaker 6: What makes I tryed to do this business in Georgia

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Speaker 6: and uh to be like a subcontractor. But I learned

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Speaker 6: quick learned is no real money. Here's one thing I'll

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Speaker 6: clarify is my lane has been healthcare that's really the

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Speaker 6: niche of government contracting, because really that's what I was

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Speaker 6: doing once I got on the side, and my last

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Speaker 6: company that was contract with the government. So there was

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Speaker 6: this company who I was going to be there the

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Speaker 6: sub who's trying to do to work in Georgia, and

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Speaker 6: I quickly realized there was no big money in that.

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Speaker 6: So I want to get the Medicate managed care because

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Speaker 6: Obamacare had just passed, which meant more people on Medicaid,

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Speaker 6: which because of the way I grew up, I knew

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Speaker 6: folks who Medicaid meant more people in medicate managed care.

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Speaker 4: So let's just break this down. Medicaid is the government

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Speaker 4: program health insurance. Yes for people low income people. Yes,

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Speaker 4: so you get commissions if you signed people up for Medicaid.

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Speaker 6: Well know, the way it works is if you actually

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Speaker 6: own the insurance company, which is what my parents had

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Speaker 6: that's providing the medical right, and then I got it.

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Speaker 6: So here's what happens. The government has the money and

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Speaker 6: they're responsible for paying all the bills for people on Medicaid.

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Speaker 6: All right, Well, what's happened is we had the providers,

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Speaker 6: the hospitals and doctors and service providers, which is build

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Speaker 6: a government over build them two or three times for

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Speaker 6: the same service build. You know, somebody could be ER

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Speaker 6: level five, but they EUR level two, which means not

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Speaker 6: that sick. But they'll build an ear level five, I

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Speaker 6: mean super sick. They would get more money for it,

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Speaker 6: so they would double build, triple bill do too much,

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Speaker 6: and so the government decided in order to manage the spending,

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Speaker 6: they need to put a police mechanism in the middle

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Speaker 6: to police the providers, and those are the Medicaid managed

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Speaker 6: care insurance companies. So they contract with us and they

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Speaker 6: pay us a health insurance premium per member per month

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Speaker 6: they assigned to us. So in DC, my first contract,

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Speaker 6: my first month I got they assigned me thirty thousand people.

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Speaker 6: They're paying me roughly, you know, five thousand dollars a year.

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Speaker 6: They pay me one hundred So I was getting like

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Speaker 6: twelve million dollars a month, five thousand dollars per person

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Speaker 6: per year, a person per year. Yeah, and I had

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Speaker 6: and they signed me thirty thousand people.

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Speaker 2: So do the math.

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Speaker 6: It's one hundred and fifty million years by twelve, like twelve

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Speaker 6: million a month first contract. Before that have to be

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Speaker 6: out the hospital bills though, same time, my member goes

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Speaker 6: to the hospital, the doctor, the dentists gets prescriptions, emergency

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Speaker 6: transportation not emergeny transporation. I pay for everything. And if

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Speaker 6: those bills are greater and they have my costs, my

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Speaker 6: administrative costs to pervert, provide the service, marketing, et cetera.

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Speaker 6: If my costs are greater than what I got paid

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Speaker 6: from the government, I lose money. So I'm at risk.

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Speaker 6: But if they're lower than I make money.

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Speaker 3: Okay, So yeah, no, So are there things that you

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Speaker 3: can do obviously to prevent Yeah?

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Speaker 2: Yeah, so what like, what are some of the things

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Speaker 2: that I was out cold? I was the coldest with it.

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Speaker 6: So the average company in my industry is doing one

403
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Speaker 6: point seven percent profit margins. You've run up to two percent.

404
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Speaker 6: That's two percent, one hundred fifty million. It's like three

405
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Speaker 6: million dollars a year, right, Well, that's the profit profit right.

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Speaker 6: And there's some advanced accountants that look at all the

407
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Speaker 6: past utilization patterns. How many times go to memergency room,

408
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Speaker 6: home times ago impatient? It means they spend nine hospitals

409
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Speaker 6: one night. How many folks are homeless and they how

410
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Speaker 6: many folks have diabetes? How many folks you know, need

411
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Speaker 6: a transplant, and they make all these assumptions to say, Okay,

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Speaker 6: well we expect your cost to be X, so therefore

413
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Speaker 6: your profit can be two percent. But of course me

414
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Speaker 6: because Troy you the same way. I believe if somebody

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Speaker 6: gave you and I got my coming up to twenty

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Speaker 6: million revenue. So if somebody gave you twenty million dollars

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Speaker 6: in revenue. By the way, a lot of companies lose money,

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Speaker 6: like United was losing money. Are you gonna make money

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Speaker 6: lose money?

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Speaker 2: I'm gonna make money, right, yeah, the show, it just

421
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Speaker 2: hit me, It just hit me.

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Speaker 6: Give me twenty million dollars. I'm about to make some money. Yeah,

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Speaker 6: and I'm gonna make a whole lot of money. So

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Speaker 6: they was maked two percent. I was making ten and

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Speaker 6: then my ten was round and down. So I was

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Speaker 6: making like twenty million a year and I should have

427
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Speaker 6: made four million year.

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Speaker 2: How come you were able to make way more higher

429
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Speaker 2: profit margins in them?

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Speaker 6: Because big companies are built with mediocre, mediocre people.

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Speaker 2: Right.

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Speaker 6: So Blue crossby Shield and these big companies, United Healthcare, Senting,

433
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Speaker 6: they're big, and like every big coming, it's just mediocre, right,

434
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Speaker 6: because no one really gives a shit because they don't

435
00:20:56,080 --> 00:20:59,160
Speaker 6: own it. But me, I won't forty percent of my company.

436
00:20:59,200 --> 00:21:01,080
Speaker 6: So if I make twenty mins, eight millions comeing to

437
00:21:01,080 --> 00:21:04,560
Speaker 6: Tommy Duncan's pocket. You feel me. If I make four million,

438
00:21:04,600 --> 00:21:06,240
Speaker 6: I'm only getting eight hundred thousand.

439
00:21:07,080 --> 00:21:09,399
Speaker 2: So what I'm gonna do? I'm about to make the twenty?

440
00:21:09,760 --> 00:21:11,600
Speaker 6: How do I do it? I'm going through the data.

441
00:21:11,640 --> 00:21:15,600
Speaker 6: So I became in actuary in my own mind. So,

442
00:21:15,680 --> 00:21:17,280
Speaker 6: like I said before about like the food business, I

443
00:21:17,280 --> 00:21:19,080
Speaker 6: didn't like it. I like the process of it. So

444
00:21:19,119 --> 00:21:21,440
Speaker 6: I wasn't gonna become a cook or a chef. I

445
00:21:21,480 --> 00:21:23,760
Speaker 6: didn't like it. But in this business, I love this shit.

446
00:21:24,160 --> 00:21:27,240
Speaker 6: So I became an accountant to a degree in advances

447
00:21:27,240 --> 00:21:28,879
Speaker 6: accountant to call it actuaries. I looked at all of

448
00:21:28,920 --> 00:21:33,240
Speaker 6: my data identified, okay, well, who's cost me the most money?

449
00:21:33,320 --> 00:21:35,399
Speaker 6: By individual and by.

450
00:21:36,760 --> 00:21:37,320
Speaker 2: Category?

451
00:21:37,880 --> 00:21:43,080
Speaker 6: So I give an example, identified that anyone who was

452
00:21:43,080 --> 00:21:46,399
Speaker 6: in my membership had any condition. They could be a

453
00:21:46,440 --> 00:21:49,560
Speaker 6: type two diabetic, they could be on dialysis, whatever the

454
00:21:49,600 --> 00:21:53,120
Speaker 6: case may be. But if they were also homeless, they

455
00:21:53,160 --> 00:21:56,239
Speaker 6: cost me five x more expensive. So no matter what

456
00:21:56,680 --> 00:21:58,680
Speaker 6: the condition they had, they were also homeless, I cost

457
00:21:58,840 --> 00:22:01,080
Speaker 6: cost five hundred percent more. So what I decided to

458
00:22:01,119 --> 00:22:04,200
Speaker 6: do is identify all of my members that were homeless

459
00:22:04,440 --> 00:22:06,200
Speaker 6: and put together programs to get them into housing.

460
00:22:06,960 --> 00:22:07,520
Speaker 2: Simple thing.

461
00:22:08,320 --> 00:22:10,240
Speaker 6: So at this meeting, I had forty people there because

462
00:22:10,240 --> 00:22:11,880
Speaker 6: it was open meeting, and I kind of lead from

463
00:22:11,880 --> 00:22:14,600
Speaker 6: the front. I'm a ground up guy, so let's all talk.

464
00:22:14,760 --> 00:22:17,520
Speaker 6: Everybody gets respected in the floor. And what I quickly

465
00:22:17,560 --> 00:22:20,560
Speaker 6: realized is because of that safe environment, two women to

466
00:22:20,600 --> 00:22:22,320
Speaker 6: raise hand said I had actually been homeless in DC,

467
00:22:22,920 --> 00:22:24,040
Speaker 6: and homeless were the kids.

468
00:22:24,040 --> 00:22:24,640
Speaker 2: They gave me the.

469
00:22:24,560 --> 00:22:27,040
Speaker 6: Real So I thought I had the bright idea, was wrong.

470
00:22:27,400 --> 00:22:29,479
Speaker 6: They gave me the real lead of land. We put

471
00:22:29,520 --> 00:22:31,800
Speaker 6: together plans in place we would douce homelesses about fifty percent.

472
00:22:32,720 --> 00:22:35,440
Speaker 6: So out of all the metrics and data in our

473
00:22:35,480 --> 00:22:38,800
Speaker 6: industry of healthcare, the only metric that we needed to

474
00:22:38,800 --> 00:22:41,000
Speaker 6: focus on was getting folks that were homeless into housing.

475
00:22:41,080 --> 00:22:43,639
Speaker 6: It seems simple, right, We did it. Cost came now

476
00:22:43,680 --> 00:22:46,280
Speaker 6: a fifty percent, and our possibility went up directly.

477
00:22:46,440 --> 00:22:49,199
Speaker 4: So that's let's just go into that point minute. So

478
00:22:49,880 --> 00:22:53,080
Speaker 4: just by actually looking at the numbers, you realized that

479
00:22:53,119 --> 00:22:55,720
Speaker 4: the homeless people was actually costing you a lot more money.

480
00:22:55,800 --> 00:22:59,240
Speaker 4: So you got to keep them on. So the way

481
00:22:59,280 --> 00:23:04,359
Speaker 4: that solve it is housing. There are housing programs, but

482
00:23:04,520 --> 00:23:07,520
Speaker 4: it's just a matter of most CEOs aren't really interested in.

483
00:23:07,920 --> 00:23:09,600
Speaker 2: Community outreach and trying.

484
00:23:09,680 --> 00:23:11,720
Speaker 4: So you actually going hand in hand and getting these

485
00:23:11,720 --> 00:23:13,600
Speaker 4: people and saying like, look, we can get you a house,

486
00:23:13,680 --> 00:23:15,320
Speaker 4: da da da, and we can put you in a shelter.

487
00:23:16,040 --> 00:23:18,720
Speaker 4: And that way, not only are you getting them off

488
00:23:18,720 --> 00:23:22,080
Speaker 4: the street, but you're actually increasing your profit revenue as well.

489
00:23:22,119 --> 00:23:24,520
Speaker 3: That's why I was like, I get it. Once you

490
00:23:24,520 --> 00:23:26,679
Speaker 3: said it, I get it. You do the programs for

491
00:23:26,720 --> 00:23:31,600
Speaker 3: the homeless. You create exercise classes, you create nutrition programs,

492
00:23:32,200 --> 00:23:35,000
Speaker 3: more entry people, less people have to go to get

493
00:23:35,200 --> 00:23:39,600
Speaker 3: any type of treatment or have to go, increase the expenses.

494
00:23:39,280 --> 00:23:40,159
Speaker 2: Trow one hundred per sent right.

495
00:23:40,440 --> 00:23:43,040
Speaker 6: So we actually built these community centers called our recenters

496
00:23:43,040 --> 00:23:46,320
Speaker 6: in the hood. So in a TURFCE neighborhood in DC,

497
00:23:46,720 --> 00:23:49,200
Speaker 6: we had four of them all throughout the district. And

498
00:23:49,280 --> 00:23:51,119
Speaker 6: most of these companies call them corporate call wherever you

499
00:23:51,119 --> 00:23:53,159
Speaker 6: want to call them. They ain't stepping foot in the

500
00:23:53,160 --> 00:23:56,880
Speaker 6: hood and employees aren't, so we end up attracting people

501
00:23:56,880 --> 00:23:58,680
Speaker 6: that were comfortable being the hood.

502
00:23:59,240 --> 00:23:59,840
Speaker 2: I call it the hood.

503
00:23:59,840 --> 00:24:03,240
Speaker 6: But when you're around the people that you're serving, you

504
00:24:03,240 --> 00:24:05,359
Speaker 6: can affect them because you're actually communicating with them and

505
00:24:05,400 --> 00:24:07,359
Speaker 6: you get them. You build a trust where they actually

506
00:24:07,400 --> 00:24:09,679
Speaker 6: pay attention to what you are putting forth, they know

507
00:24:09,720 --> 00:24:12,880
Speaker 6: the resources, and their behavior has changed for the positive.

508
00:24:14,240 --> 00:24:16,600
Speaker 4: So that's how you was able to increase just looking

509
00:24:16,640 --> 00:24:18,480
Speaker 4: at stuff like that.

510
00:24:18,080 --> 00:24:18,840
Speaker 2: Studying analytics.

511
00:24:18,880 --> 00:24:21,119
Speaker 3: So you went from one percent where the average was

512
00:24:21,160 --> 00:24:23,200
Speaker 3: one percent point set and so that's how.

513
00:24:23,040 --> 00:24:24,560
Speaker 2: You got to the ten percent. I was over ten

514
00:24:25,080 --> 00:24:26,080
Speaker 2: killing them, killing them.

515
00:24:26,080 --> 00:24:28,720
Speaker 6: But the problem is, and actually wrote a book trying

516
00:24:28,760 --> 00:24:31,000
Speaker 6: to change the policy for medicating the country.

517
00:24:31,119 --> 00:24:31,560
Speaker 2: I sent it to you.

518
00:24:31,600 --> 00:24:36,960
Speaker 6: It's called the Trading Dollar Medicaid Monster addresses single payer

519
00:24:37,119 --> 00:24:40,040
Speaker 6: everything you've heard about politically that knowing fully understands addresses

520
00:24:40,080 --> 00:24:42,600
Speaker 6: all of it, simplifies it. I took it to the

521
00:24:42,600 --> 00:24:45,399
Speaker 6: person that runs ran centerce Medicare and Medicaid for the

522
00:24:45,400 --> 00:24:47,000
Speaker 6: country to change policy.

523
00:24:47,119 --> 00:24:49,280
Speaker 2: Gave three policies to change, and.

524
00:24:49,160 --> 00:24:50,840
Speaker 6: He told me there's no way he could do it

525
00:24:50,880 --> 00:24:56,080
Speaker 6: because one of the policies is affected into law through

526
00:24:56,119 --> 00:25:00,240
Speaker 6: Obamacare and it'll be too hard to change policy. But

527
00:25:00,720 --> 00:25:03,919
Speaker 6: what that policy is a mandatory medical loss ratio requirement.

528
00:25:04,520 --> 00:25:07,480
Speaker 6: What that means is, remember the government pays us a

529
00:25:07,520 --> 00:25:10,639
Speaker 6: health insurance premium per member per month five thousand per year,

530
00:25:10,640 --> 00:25:12,120
Speaker 6: breaking down per month for one of bucks per month

531
00:25:12,119 --> 00:25:17,800
Speaker 6: per person tracking, Well, let's use a five grand per

532
00:25:17,840 --> 00:25:20,480
Speaker 6: year number. The requirement is that eighty five percent of

533
00:25:20,480 --> 00:25:22,640
Speaker 6: that money has to be spent on direct costs of care,

534
00:25:23,359 --> 00:25:27,320
Speaker 6: so hospital, doctor, pharmacy. Then I get, you know whatever,

535
00:25:27,440 --> 00:25:30,560
Speaker 6: twelve percent left, thirteen percent left to cover my administrator spence,

536
00:25:30,560 --> 00:25:33,480
Speaker 6: and then two percent profit margin. But the management medical

537
00:25:33,480 --> 00:25:37,240
Speaker 6: loss ratio is the eighty five percent. Well, if you

538
00:25:37,240 --> 00:25:38,800
Speaker 6: do things that I was doing, get people who are

539
00:25:38,840 --> 00:25:41,680
Speaker 6: homeless in the housing, reduce costs of care, then you're

540
00:25:41,680 --> 00:25:42,960
Speaker 6: going to be less than eighty five percent.

541
00:25:43,000 --> 00:25:44,720
Speaker 3: Because I'm thinking, like, if you did it in DC,

542
00:25:45,680 --> 00:25:47,960
Speaker 3: this model seems like it could be scalable.

543
00:25:47,560 --> 00:25:50,240
Speaker 6: Right, Like, why can't we do it Detroit, New York City? Well,

544
00:25:50,280 --> 00:25:52,960
Speaker 6: because it's political, it's hard to win the contracts. It's

545
00:25:53,000 --> 00:25:54,439
Speaker 6: a big game. So let me tell you how. Let

546
00:25:54,480 --> 00:25:56,240
Speaker 6: me tell you something else about to the entrepreneurs out here,

547
00:26:03,440 --> 00:26:06,720
Speaker 6: go to what the opportunity is. I feel like a

548
00:26:06,760 --> 00:26:08,600
Speaker 6: lot of times what we do is individuals, not just

549
00:26:08,640 --> 00:26:11,960
Speaker 6: black but just in general is we believe whether whoever

550
00:26:11,960 --> 00:26:16,040
Speaker 6: our God is or our universe is, you know, it's

551
00:26:16,080 --> 00:26:19,320
Speaker 6: all on us, right, so God bless us, and it's.

552
00:26:19,160 --> 00:26:19,960
Speaker 2: Just wherever we are.

553
00:26:20,000 --> 00:26:22,240
Speaker 6: But the truth is, the environment has a big impact

554
00:26:22,520 --> 00:26:27,800
Speaker 6: on your opportunity. And I was in Detroit in the money. Detroit,

555
00:26:28,160 --> 00:26:30,040
Speaker 6: d C. Is a special place, and a lot of

556
00:26:30,080 --> 00:26:32,560
Speaker 6: black folks who have been successful come through DC, A

557
00:26:32,600 --> 00:26:34,720
Speaker 6: lot of them. You look them up. Most of them

558
00:26:35,160 --> 00:26:37,400
Speaker 6: got to start a BT. You go through really look

559
00:26:37,400 --> 00:26:39,760
Speaker 6: at black folks who made it big. Most of them

560
00:26:39,760 --> 00:26:41,880
Speaker 6: spent time in DC. And the reason is because DC

561
00:26:42,080 --> 00:26:46,200
Speaker 6: is the only place that has a governor's budget but

562
00:26:46,359 --> 00:26:50,600
Speaker 6: as black ran. So you look at any other state

563
00:26:50,640 --> 00:26:53,359
Speaker 6: in this country. You go look at New York City,

564
00:26:53,480 --> 00:26:56,600
Speaker 6: who knows what's gonna happen until a degree it may

565
00:26:56,640 --> 00:26:59,760
Speaker 6: not really matter. You look at Atlanta, Georgia, you go

566
00:26:59,840 --> 00:27:02,440
Speaker 6: to Detroit, Michigan. You got all these you know, big

567
00:27:02,480 --> 00:27:05,480
Speaker 6: cities which have a black mayor. But the mayor budgets

568
00:27:05,480 --> 00:27:09,560
Speaker 6: are small because the governor government got the money. Governor's

569
00:27:09,560 --> 00:27:13,320
Speaker 6: got more money. They can actually move than the president

570
00:27:13,400 --> 00:27:17,560
Speaker 6: United States because they like the biggest CEOs in this

571
00:27:17,640 --> 00:27:19,040
Speaker 6: country but no one talks about it.

572
00:27:19,960 --> 00:27:22,320
Speaker 2: So how many black governments do you know? None?

573
00:27:22,520 --> 00:27:25,760
Speaker 6: Come on, Why is that they control the money? Sorry,

574
00:27:26,200 --> 00:27:30,520
Speaker 6: they control the money. Governors control the money.

575
00:27:31,600 --> 00:27:31,960
Speaker 2: Let me tell you.

576
00:27:32,040 --> 00:27:33,920
Speaker 6: Out of the city of Atlanta, because I spent time there.

577
00:27:33,960 --> 00:27:37,080
Speaker 6: With any city, a big contract to be a million dollars.

578
00:27:37,760 --> 00:27:39,600
Speaker 6: You get a contract with the airport, you got a concession,

579
00:27:39,640 --> 00:27:41,000
Speaker 6: you said you may you make a half million dollars

580
00:27:41,000 --> 00:27:41,280
Speaker 6: a year.

581
00:27:41,600 --> 00:27:42,119
Speaker 2: It's big.

582
00:27:43,160 --> 00:27:46,720
Speaker 6: Any contract over three million, so three four five million,

583
00:27:46,720 --> 00:27:49,359
Speaker 6: and it'd be construction. But the problem with construction for

584
00:27:49,359 --> 00:27:51,520
Speaker 6: an entrepreneurs that there's a lot of expenses in construction.

585
00:27:51,640 --> 00:27:53,600
Speaker 6: You gotta have equipment, you gotta have a million people.

586
00:27:53,640 --> 00:27:58,000
Speaker 6: You can't make any profit. But governors controlled. Let me

587
00:27:58,040 --> 00:28:02,440
Speaker 6: watch this. Watch this. The second largest procurement in history

588
00:28:02,440 --> 00:28:06,320
Speaker 6: of United States was Georgia medicaid. I'm sorry, Wash Florida

589
00:28:06,359 --> 00:28:08,360
Speaker 6: medicaid three years ago. It's one hundred and twenty billion

590
00:28:08,359 --> 00:28:12,000
Speaker 6: dollar contract. Right now, over the next three months, California's

591
00:28:12,000 --> 00:28:14,840
Speaker 6: put out their medicaid contract. Medicaid what I was doing,

592
00:28:15,080 --> 00:28:17,000
Speaker 6: it's going to be a two hundred billion dollar contract,

593
00:28:17,040 --> 00:28:19,920
Speaker 6: two hundred billion over five years, two hundred billion dollars

594
00:28:20,040 --> 00:28:21,320
Speaker 6: five years medicaid.

595
00:28:21,320 --> 00:28:24,320
Speaker 2: What I was doing. Who controls that? The governor?

596
00:28:24,760 --> 00:28:26,160
Speaker 6: I mean, you don't have to get a big piece

597
00:28:26,200 --> 00:28:28,440
Speaker 6: to get a lot of money. But d C is special.

598
00:28:28,520 --> 00:28:30,520
Speaker 2: Because d C governor's budget.

599
00:28:30,600 --> 00:28:33,240
Speaker 6: It's a government's budget, and the mayor is the governor.

600
00:28:33,400 --> 00:28:34,439
Speaker 6: And she's a black one.

601
00:28:34,280 --> 00:28:35,879
Speaker 2: Because that's for her. It was a black man. So

602
00:28:35,920 --> 00:28:38,040
Speaker 2: it's a district of Columbia, so it's not a state,

603
00:28:38,680 --> 00:28:41,880
Speaker 2: so it's a territory. So we got the budget. The

604
00:28:41,920 --> 00:28:45,560
Speaker 2: mayor is technically the governor's in and they got the budget.

605
00:28:45,680 --> 00:28:47,800
Speaker 2: Is the budget of power? Budget based on population?

606
00:28:48,160 --> 00:28:50,560
Speaker 3: How do they determine the budget based on populations in

607
00:28:50,600 --> 00:28:51,080
Speaker 3: tax base?

608
00:28:51,160 --> 00:28:51,360
Speaker 2: Yeah?

609
00:28:51,360 --> 00:28:53,440
Speaker 6: Okay, but DC is beautiful place. It's small with a

610
00:28:53,440 --> 00:28:58,040
Speaker 6: big tax base. And uh, they got the power. And

611
00:28:58,040 --> 00:29:00,240
Speaker 6: then the other thing DC did through form I were

612
00:29:00,920 --> 00:29:03,720
Speaker 6: mayor for life, Marion Barry was the first place to

613
00:29:03,800 --> 00:29:06,920
Speaker 6: institute a real program. Maybe Georgia did it, but DC

614
00:29:07,040 --> 00:29:10,600
Speaker 6: did it powerfully where every contract that comes out of

615
00:29:10,680 --> 00:29:14,400
Speaker 6: DC has to have thirty percent minority participation. Now they

616
00:29:14,560 --> 00:29:17,280
Speaker 6: what happens. There is a lot of times that black companies.

617
00:29:17,240 --> 00:29:17,800
Speaker 2: Will come in.

618
00:29:17,920 --> 00:29:22,560
Speaker 6: It tried to do small shit do small things right unintentionally.

619
00:29:22,600 --> 00:29:26,760
Speaker 6: But they'll do janitorial service, they'll do marketing contract ahvag

620
00:29:26,840 --> 00:29:30,120
Speaker 6: they do printing. But there ain't no money. I mean

621
00:29:30,200 --> 00:29:32,640
Speaker 6: relatively speaking, what I was doing. I came in as

622
00:29:32,680 --> 00:29:35,560
Speaker 6: a prime and I got the prime contract, So I

623
00:29:35,600 --> 00:29:39,680
Speaker 6: was getting two hundre million dollars year out of DC government. Well,

624
00:29:40,960 --> 00:29:43,240
Speaker 6: the problem with the companies that like I had is

625
00:29:43,240 --> 00:29:46,280
Speaker 6: I couldn't find a smaller black business to give a

626
00:29:46,320 --> 00:29:48,600
Speaker 6: contract to that was worth thirty percent. They couldn't do

627
00:29:48,600 --> 00:29:50,880
Speaker 6: the work, they didn't have the infrastructure, they weren't trying

628
00:29:50,880 --> 00:29:54,440
Speaker 6: to do anything worth the bigger spend. But DC, let

629
00:29:54,520 --> 00:29:56,360
Speaker 6: me tell you right now, to Medicaid contracts, because they

630
00:29:56,360 --> 00:29:58,920
Speaker 6: did an expansion DC right now, it's probably three billion

631
00:29:58,920 --> 00:30:01,200
Speaker 6: dollars a year, just a little a little old DC

632
00:30:01,280 --> 00:30:04,840
Speaker 6: three billion dollars. Well, of that thirty percent, how much

633
00:30:04,880 --> 00:30:07,200
Speaker 6: is that almost a billion dollars has to be spent

634
00:30:07,280 --> 00:30:10,760
Speaker 6: with minorities? How much you write really things being spent

635
00:30:10,840 --> 00:30:12,800
Speaker 6: with the minority companies in DC? I could tell you

636
00:30:12,800 --> 00:30:14,360
Speaker 6: because we had to do hearings because there weren't enough

637
00:30:14,360 --> 00:30:14,680
Speaker 6: to spend.

638
00:30:14,720 --> 00:30:19,240
Speaker 2: Probably, yeah, no more than ten million, not even ten

639
00:30:19,400 --> 00:30:22,000
Speaker 2: five five five million from a billion, not even that much.

640
00:30:22,120 --> 00:30:24,400
Speaker 2: I'm saying. It's like it's just not the companies aren't there.

641
00:30:24,440 --> 00:30:26,440
Speaker 2: The companies aren't there to do the work.

642
00:30:28,240 --> 00:30:30,240
Speaker 6: And look, I mean we put game in the system

643
00:30:30,240 --> 00:30:32,520
Speaker 6: by putting money in a black bank, but that's not

644
00:30:32,560 --> 00:30:35,560
Speaker 6: really spending money. That's just money sitting. And even that's

645
00:30:35,680 --> 00:30:39,920
Speaker 6: like small. But anyway, my points are that there's opportunity

646
00:30:39,960 --> 00:30:43,640
Speaker 6: all over the place, particularly in DC, and this way

647
00:30:43,640 --> 00:30:47,360
Speaker 6: to navigate it, the way that I did it, you know,

648
00:30:47,600 --> 00:30:49,320
Speaker 6: but as an ospruar, you should look at your environment,

649
00:30:49,360 --> 00:30:50,080
Speaker 6: see where you're at.

650
00:30:50,920 --> 00:30:54,680
Speaker 3: The skill I mean navigating through government contracts is obviously

651
00:30:54,680 --> 00:30:55,080
Speaker 3: a skill.

652
00:30:55,200 --> 00:30:59,000
Speaker 2: Where did you develop this? Was it watching your parents.

653
00:30:59,040 --> 00:31:01,480
Speaker 3: Go through the hospital or was it something that you

654
00:31:01,560 --> 00:31:05,000
Speaker 3: learned when you were at a VP at your first company.

655
00:31:05,440 --> 00:31:08,480
Speaker 6: On one side, my experience with my parents, you know,

656
00:31:08,560 --> 00:31:12,560
Speaker 6: having all these employees, you know, all the politicians coming

657
00:31:12,600 --> 00:31:17,280
Speaker 6: through every day, taught me government contracting because that's a

658
00:31:17,320 --> 00:31:20,840
Speaker 6: lot of it is a sense of I don't call

659
00:31:20,880 --> 00:31:22,640
Speaker 6: a quid pro quote, it's a pro quote.

660
00:31:22,800 --> 00:31:23,000
Speaker 2: Right.

661
00:31:23,640 --> 00:31:28,760
Speaker 6: There is a fundamental human principle called reciprocity.

662
00:31:29,560 --> 00:31:31,880
Speaker 2: Right, you do for me, I do for you.

663
00:31:31,760 --> 00:31:32,840
Speaker 6: But you ain't doing it for me. I ain't doing

664
00:31:32,920 --> 00:31:34,680
Speaker 6: much for you. And the reason you need to get

665
00:31:34,680 --> 00:31:36,960
Speaker 6: my attention is because you want me to prioritize your priority.

666
00:31:37,000 --> 00:31:38,040
Speaker 2: I got my own priorities.

667
00:31:38,360 --> 00:31:40,160
Speaker 6: So in order to do that, you got to incentivize me

668
00:31:40,440 --> 00:31:43,960
Speaker 6: my experience that a creative taught me, train me. And

669
00:31:44,000 --> 00:31:46,520
Speaker 6: that's the skills that I deployed when I looked at

670
00:31:46,520 --> 00:31:49,360
Speaker 6: all of my data and identified which one moved the

671
00:31:49,360 --> 00:31:52,440
Speaker 6: needle as I gave the example with the homeless program

672
00:31:52,680 --> 00:31:55,280
Speaker 6: and executed and put together operating rhythm to push every

673
00:31:55,360 --> 00:31:58,080
Speaker 6: day to improve our performance. He had a conversation earlier

674
00:31:58,120 --> 00:32:01,400
Speaker 6: Troy about you're asking me if someone wins the office,

675
00:32:01,400 --> 00:32:03,760
Speaker 6: and it was with Shay. The question was, well, while

676
00:32:03,880 --> 00:32:07,200
Speaker 6: they keep raising money. Yeah, they keep raising money because

677
00:32:07,520 --> 00:32:10,120
Speaker 6: they may be borrowing to pay for the TV commercials

678
00:32:10,560 --> 00:32:12,720
Speaker 6: and they need to pay that money back. The other

679
00:32:12,720 --> 00:32:14,760
Speaker 6: thing that happens too is they always want to have

680
00:32:14,760 --> 00:32:17,960
Speaker 6: more money because they can then king make or queen make.

681
00:32:18,560 --> 00:32:22,640
Speaker 6: So now let's say the person's mayor or governor, and

682
00:32:22,680 --> 00:32:25,680
Speaker 6: now they want to hand pick city council, right, so

683
00:32:25,680 --> 00:32:27,760
Speaker 6: they want to give that city councilor member that they

684
00:32:27,760 --> 00:32:30,080
Speaker 6: want so they know that they'll vote for whatever they

685
00:32:30,240 --> 00:32:32,520
Speaker 6: their initiatives are. They need to raise money for them,

686
00:32:32,600 --> 00:32:34,640
Speaker 6: so they'll take the money that they raise for their

687
00:32:34,640 --> 00:32:37,800
Speaker 6: campaign and then donate it to Kingmate to kind of

688
00:32:37,800 --> 00:32:42,280
Speaker 6: build a powerful position in government so they can make

689
00:32:42,760 --> 00:32:44,240
Speaker 6: decisions they want to make and help folks that they

690
00:32:44,240 --> 00:32:47,880
Speaker 6: want to help. The other reason is if they lose,

691
00:32:47,960 --> 00:32:50,680
Speaker 6: they got debt. See, if you win, you can always

692
00:32:50,760 --> 00:32:53,840
Speaker 6: raise money because now folks want to participate with you,

693
00:32:53,920 --> 00:32:57,200
Speaker 6: right the business people. But when you lose, then you

694
00:32:57,240 --> 00:32:59,000
Speaker 6: may have one hundred thousand dollars in debt, a million

695
00:32:59,040 --> 00:33:01,080
Speaker 6: dollars in debt, and no one's gonna give you any

696
00:33:01,120 --> 00:33:02,400
Speaker 6: money really because you lost.

697
00:33:02,720 --> 00:33:04,400
Speaker 2: So they always raise money just case they lose to

698
00:33:05,160 --> 00:33:05,760
Speaker 2: But anyway, so.

699
00:33:07,520 --> 00:33:13,880
Speaker 6: The understanding government relationships and understanding what people want by

700
00:33:13,920 --> 00:33:16,080
Speaker 6: the other side is training in Troy. I got my

701
00:33:16,160 --> 00:33:18,760
Speaker 6: training on how to operate my business at the highest

702
00:33:18,800 --> 00:33:21,960
Speaker 6: level through my company at a creative. When I sold

703
00:33:22,000 --> 00:33:23,719
Speaker 6: my company to a creative, they taught me how to

704
00:33:23,760 --> 00:33:29,160
Speaker 6: analyze data, how to synthesize it, how to analyze and

705
00:33:29,320 --> 00:33:32,720
Speaker 6: identify out of all of the data points and metrics,

706
00:33:32,720 --> 00:33:34,720
Speaker 6: what actually moves in need of the most and then

707
00:33:34,760 --> 00:33:38,720
Speaker 6: create an operational rigor to push every day to improve performance.

708
00:33:39,200 --> 00:33:40,360
Speaker 2: I think that's incredible, Right.

709
00:33:40,560 --> 00:33:42,840
Speaker 3: A lot of times people here, someone sold their company

710
00:33:42,920 --> 00:33:45,120
Speaker 3: and they took the cash and they walked away and

711
00:33:45,200 --> 00:33:47,720
Speaker 3: tried to create a new company. Whereas you sold the

712
00:33:47,720 --> 00:33:52,400
Speaker 3: company and stayed on and learned, yes, skills to help

713
00:33:52,440 --> 00:33:54,080
Speaker 3: you before you created a new company.

714
00:33:54,120 --> 00:33:55,840
Speaker 2: That's right, that's incredible.

715
00:33:55,400 --> 00:33:57,520
Speaker 6: And that's why we killed them. Yeah, my last company,

716
00:33:57,520 --> 00:34:00,400
Speaker 6: we killed them and it benefited me financially. So my

717
00:34:00,520 --> 00:34:03,160
Speaker 6: last company based upon the size, So if you just

718
00:34:03,200 --> 00:34:06,440
Speaker 6: look at the metric of number of members, which is

719
00:34:06,480 --> 00:34:10,200
Speaker 6: usually how they value managed care companies, we would have

720
00:34:10,200 --> 00:34:13,120
Speaker 6: sold our company for forty million dollars, but because we

721
00:34:13,120 --> 00:34:15,080
Speaker 6: were so profitable, we sold a.

722
00:34:15,040 --> 00:34:16,480
Speaker 2: Company f one hundred and twenty million dollars.

723
00:34:18,280 --> 00:34:22,440
Speaker 6: And that profitability was a was directly driven by really

724
00:34:22,920 --> 00:34:25,000
Speaker 6: the training I received at the creative to understand the

725
00:34:25,080 --> 00:34:26,600
Speaker 6: data and then pushing it.

726
00:34:27,440 --> 00:34:30,719
Speaker 4: So what was the last company that you sold, Like,

727
00:34:30,760 --> 00:34:34,000
Speaker 4: what was the same type of services provide insurance?

728
00:34:34,160 --> 00:34:35,759
Speaker 6: That was insurance, that was a Medicaid health plan, that

729
00:34:35,760 --> 00:34:37,960
Speaker 6: was Medicaid insurance trusted or trusted.

730
00:34:38,000 --> 00:34:41,040
Speaker 2: So you was providing the insurance for the Medicaid.

731
00:34:41,600 --> 00:34:44,520
Speaker 6: So people who have Medicaid, they have an insurance company,

732
00:34:44,560 --> 00:34:45,600
Speaker 6: and I was one of the providers.

733
00:34:45,840 --> 00:34:48,040
Speaker 2: This is interesting, It's something that I've never even heard of.

734
00:34:48,040 --> 00:34:51,759
Speaker 3: Speaking of Medicare, you actually bought a healthcare plan from

735
00:34:51,760 --> 00:34:53,240
Speaker 3: Michigan Tenant in twenty sixteen.

736
00:34:53,400 --> 00:34:53,600
Speaker 2: Yeah.

737
00:34:53,719 --> 00:34:57,960
Speaker 6: Tenants the largest for profit health care system in the country.

738
00:34:58,480 --> 00:35:00,160
Speaker 6: So here's how it goes. It kind of makes to

739
00:35:00,200 --> 00:35:05,480
Speaker 6: both right. So one, there was a person who used

740
00:35:05,520 --> 00:35:09,200
Speaker 6: to be a Supreme Court justice in Michigan, and we're

741
00:35:09,360 --> 00:35:12,759
Speaker 6: very close with my parents when I became when I

742
00:35:12,800 --> 00:35:15,920
Speaker 6: started my entrepreneurial journey, remember my parents. The other thing

743
00:35:15,960 --> 00:35:20,200
Speaker 6: about government business is when you're on the positive side

744
00:35:20,480 --> 00:35:24,880
Speaker 6: where people like you, it's extraordinarily beneficial. But then something

745
00:35:24,880 --> 00:35:27,640
Speaker 6: can happen when you get on the wrong side of politics.

746
00:35:28,960 --> 00:35:31,000
Speaker 6: And so my parents got on the wrong side and

747
00:35:31,000 --> 00:35:34,640
Speaker 6: lost everything. But then I was building my own. This

748
00:35:35,200 --> 00:35:36,920
Speaker 6: person became a good friend of mine, kind of like

749
00:35:36,920 --> 00:35:42,400
Speaker 6: a mentor to a degree, and it just so happened.

750
00:35:43,600 --> 00:35:47,520
Speaker 6: He ended up becoming the CEO of one of the

751
00:35:47,560 --> 00:35:50,759
Speaker 6: tenant hospitals in Detroit, and he told me that from

752
00:35:50,800 --> 00:35:55,400
Speaker 6: corporate they had made a decision to sell their Medicaid

753
00:35:55,719 --> 00:35:59,359
Speaker 6: help plan assets. And because of that relationship, he told

754
00:35:59,360 --> 00:36:01,919
Speaker 6: me about it. And then I contacted a guy who

755
00:36:02,760 --> 00:36:05,520
Speaker 6: I made chairman of my board. He's a very good

756
00:36:05,560 --> 00:36:09,520
Speaker 6: friend of mine. I contacted so my guy who was

757
00:36:09,560 --> 00:36:12,800
Speaker 6: running the hospital told me. I contacted my guy who

758
00:36:12,920 --> 00:36:17,920
Speaker 6: is in that world of high power executives in healthcare,

759
00:36:18,200 --> 00:36:21,399
Speaker 6: which none of them were black. He talked to them

760
00:36:22,200 --> 00:36:25,040
Speaker 6: and they confirmed, yes, we are looking to sell their asset.

761
00:36:25,160 --> 00:36:27,080
Speaker 6: And so you know, within a few months they sold

762
00:36:27,120 --> 00:36:27,439
Speaker 6: the tours.

763
00:36:27,560 --> 00:36:29,040
Speaker 3: What's the type of tag on that, because I know

764
00:36:29,080 --> 00:36:31,320
Speaker 3: you later sold it to Henry Ford.

765
00:36:31,520 --> 00:36:32,640
Speaker 2: We bought it for.

766
00:36:34,880 --> 00:36:37,120
Speaker 6: Well, we had to put in it's called risk base capital.

767
00:36:37,160 --> 00:36:40,000
Speaker 6: I think all in we probably put in like thirteen million, ok,

768
00:36:40,840 --> 00:36:42,880
Speaker 6: you know, and then three years later we sold it

769
00:36:42,960 --> 00:36:45,640
Speaker 6: for twenty two and a half. Yeah, but it was

770
00:36:45,640 --> 00:36:48,160
Speaker 6: a crazy story. But here's the real story. That ain't

771
00:36:48,160 --> 00:36:50,640
Speaker 6: the story how much money we made. The real story, Troy,

772
00:36:50,760 --> 00:36:52,640
Speaker 6: is that we bought it and they gave us these

773
00:36:52,640 --> 00:36:55,360
Speaker 6: financials which showed it was making six million dollars a

774
00:36:55,440 --> 00:36:58,399
Speaker 6: year in profit, half million a month, half million a month,

775
00:36:59,000 --> 00:37:01,640
Speaker 6: half million a month. The first month I owned it,

776
00:37:01,680 --> 00:37:05,560
Speaker 6: we lost a million dollars, Oh you did. So they

777
00:37:05,600 --> 00:37:07,360
Speaker 6: sell me an asset with all the financials. It's a

778
00:37:07,360 --> 00:37:10,200
Speaker 6: big public traded company, right, one that you would trust.

779
00:37:10,800 --> 00:37:12,600
Speaker 6: Half million dollars a month they make it. But somehow

780
00:37:12,640 --> 00:37:15,000
Speaker 6: my first month I lose a maion. Second month I

781
00:37:15,040 --> 00:37:17,319
Speaker 6: lose another million, Third month I lose another million. So

782
00:37:17,360 --> 00:37:21,160
Speaker 6: now what's happening. My private equity partners are come to

783
00:37:21,200 --> 00:37:23,360
Speaker 6: take my company over from me. I got stories with

784
00:37:23,480 --> 00:37:25,600
Speaker 6: days they come to take it from it. They said,

785
00:37:25,600 --> 00:37:27,040
Speaker 6: now we gotta put money in the company. Of course,

786
00:37:27,120 --> 00:37:28,399
Speaker 6: time you can't put the money up, so we gotta

787
00:37:28,400 --> 00:37:30,520
Speaker 6: put the money up. We gonna delute you down and

788
00:37:30,560 --> 00:37:33,120
Speaker 6: take your equity to put the money up. And it's

789
00:37:33,560 --> 00:37:37,000
Speaker 6: becoming hostile because we have our investors, who's money in

790
00:37:37,040 --> 00:37:39,120
Speaker 6: this thing. We gotta do what we have to do

791
00:37:39,280 --> 00:37:41,640
Speaker 6: to retain as much value as we can. So now

792
00:37:41,680 --> 00:37:44,200
Speaker 6: they start showing up in my office every day, taking

793
00:37:44,239 --> 00:37:47,600
Speaker 6: over my finance. So put my CFO out the way,

794
00:37:47,680 --> 00:37:49,400
Speaker 6: took over his office and coming every day. So I'm

795
00:37:49,440 --> 00:37:50,760
Speaker 6: all right, now I gotta fix the problem.

796
00:37:51,360 --> 00:37:53,040
Speaker 2: So fix problem? How do I do it?

797
00:37:53,239 --> 00:37:55,839
Speaker 6: Make all my vendors renegotiate their rates for me cut

798
00:37:55,880 --> 00:37:59,320
Speaker 6: everything in half, or I'm suing y'all and I'm claiming fraud.

799
00:37:59,760 --> 00:38:02,680
Speaker 6: And so now I called a State of Michigan. So

800
00:38:02,719 --> 00:38:04,640
Speaker 6: here's what things. No matter how big the companies are,

801
00:38:04,960 --> 00:38:08,960
Speaker 6: company is in healthcare, there's one thing that can destroy

802
00:38:09,000 --> 00:38:09,480
Speaker 6: a company.

803
00:38:09,560 --> 00:38:10,600
Speaker 2: It's called compliance.

804
00:38:11,719 --> 00:38:15,480
Speaker 6: So the government believes that a company is not being compliant,

805
00:38:15,520 --> 00:38:18,960
Speaker 6: they could tank the whole company. And so I proactively

806
00:38:19,000 --> 00:38:23,480
Speaker 6: called the State of Michigan's insurance bureau, even though our percentage.

807
00:38:23,520 --> 00:38:25,120
Speaker 2: If they called me, they didn't.

808
00:38:25,160 --> 00:38:28,759
Speaker 6: I called them and I was threatening, well listen if

809
00:38:28,760 --> 00:38:33,000
Speaker 6: the insurance bureau approved them. So what happens is when

810
00:38:33,040 --> 00:38:35,399
Speaker 6: you're an insurance company, you make a profit. You can't

811
00:38:35,400 --> 00:38:38,240
Speaker 6: really take your profits out every year. You just retain

812
00:38:38,320 --> 00:38:40,719
Speaker 6: them and then when you sell your company, then you

813
00:38:40,760 --> 00:38:43,520
Speaker 6: get all your money. So when they sold the company,

814
00:38:43,520 --> 00:38:45,680
Speaker 6: we gave them thirteen million, they took like ten million

815
00:38:45,719 --> 00:38:48,000
Speaker 6: out the company that they had to retain earnings. So

816
00:38:48,040 --> 00:38:51,040
Speaker 6: then I contacted insurance bureau and I threatened, I tell

817
00:38:51,040 --> 00:38:53,560
Speaker 6: you a funny story too, you know, let me tell

818
00:38:53,560 --> 00:38:56,400
Speaker 6: you the story. So I called the insurance bureau, say no,

819
00:38:56,440 --> 00:38:59,440
Speaker 6: I'm on record, call them to have a meeting being

820
00:38:59,480 --> 00:39:01,319
Speaker 6: in healthcare for ever. So we go there and I

821
00:39:01,320 --> 00:39:03,200
Speaker 6: got my private equity partners right, and they talking all

822
00:39:03,200 --> 00:39:04,520
Speaker 6: this shit to me. They trying to take my company

823
00:39:04,520 --> 00:39:07,719
Speaker 6: from me. Dudes resign from the board so they can

824
00:39:07,800 --> 00:39:10,160
Speaker 6: sue me. So I knew that do resign for the board.

825
00:39:10,160 --> 00:39:11,560
Speaker 6: That means they about to sue because they can't sue

826
00:39:11,560 --> 00:39:14,360
Speaker 6: me being on the board because it's complex adventuest. So

827
00:39:14,400 --> 00:39:15,880
Speaker 6: I'm like, all right, this is a Jewish guy. They

828
00:39:15,960 --> 00:39:18,920
Speaker 6: about to sue me, and I got all these problems.

829
00:39:18,920 --> 00:39:20,880
Speaker 6: They take it over my company anyway, So we go

830
00:39:21,080 --> 00:39:22,239
Speaker 6: and now I got to get my money back. I

831
00:39:22,239 --> 00:39:24,920
Speaker 6: don't forget my money back, and I renegotiate my VNDER contracts.

832
00:39:24,960 --> 00:39:27,920
Speaker 6: I can save everything. So we get to Dallas and

833
00:39:28,200 --> 00:39:30,359
Speaker 6: all these guys people come to to me to all

834
00:39:30,360 --> 00:39:33,520
Speaker 6: thisselff to me. We get there and they quiet scared

835
00:39:33,560 --> 00:39:33,879
Speaker 6: to talk.

836
00:39:34,320 --> 00:39:34,880
Speaker 2: But here's what thing.

837
00:39:35,200 --> 00:39:37,040
Speaker 6: So I threatened the dude. I said, yeah, you know,

838
00:39:37,160 --> 00:39:38,720
Speaker 6: y'all took that money out and you sold the company

839
00:39:38,760 --> 00:39:41,840
Speaker 6: to me. And you know I got to meet with

840
00:39:41,880 --> 00:39:43,759
Speaker 6: insurance bureau. They want to meet with me about what

841
00:39:43,880 --> 00:39:47,520
Speaker 6: happened because they see that financials have deteriorated. So I

842
00:39:47,560 --> 00:39:51,359
Speaker 6: don't know, but that's the problem. So the dude, he said, ah,

843
00:39:51,400 --> 00:39:53,640
Speaker 6: I did this team talking. I come back, I said,

844
00:39:53,680 --> 00:39:58,399
Speaker 6: you know, I mean the insurance bureau and y'all took

845
00:39:58,440 --> 00:40:00,840
Speaker 6: that money out. I don't know what they want to

846
00:40:00,880 --> 00:40:03,160
Speaker 6: talk about. He kind of ignored again. I said the

847
00:40:03,239 --> 00:40:06,479
Speaker 6: third time, I'm sorry, sorry, I say. He said, God,

848
00:40:06,640 --> 00:40:08,799
Speaker 6: damn it, duncan if you threatened me one more time.

849
00:40:11,120 --> 00:40:13,600
Speaker 6: I looked at him, I looked out the window. I said,

850
00:40:14,120 --> 00:40:15,520
Speaker 6: all right, I won't say it again. That's gonna make

851
00:40:15,520 --> 00:40:16,040
Speaker 6: sure you heard me.

852
00:40:17,080 --> 00:40:17,440
Speaker 2: Came back.

853
00:40:17,480 --> 00:40:19,160
Speaker 6: I promised you a day later, and they agreed to

854
00:40:19,200 --> 00:40:22,239
Speaker 6: give us some money back. Got my money back, and

855
00:40:22,400 --> 00:40:25,680
Speaker 6: still renegotiated my contracts with my providers who had to

856
00:40:25,719 --> 00:40:28,000
Speaker 6: pay my vendors. So then now now that they get

857
00:40:28,040 --> 00:40:30,480
Speaker 6: my money back, now my cost with Lord going forward

858
00:40:30,960 --> 00:40:31,879
Speaker 6: set up making money.

859
00:40:32,920 --> 00:40:37,160
Speaker 2: I probably made another twenty million. It's unbelievable. It's unbelievable,

860
00:40:37,680 --> 00:40:39,200
Speaker 2: so said.

861
00:40:39,200 --> 00:40:40,960
Speaker 6: I got my pe partners off of me and save

862
00:40:41,040 --> 00:40:44,640
Speaker 6: my company end up being more profitable, and then Henry's.

863
00:40:44,719 --> 00:40:46,560
Speaker 6: But then the company still wasn't making money, and it

864
00:40:46,680 --> 00:40:48,920
Speaker 6: was it wasn't working. So I was able to get

865
00:40:48,920 --> 00:40:52,879
Speaker 6: Henry Ford health System health System in Detroit to buy

866
00:40:52,960 --> 00:40:54,960
Speaker 6: my company, and I made a profit so on something

867
00:40:55,000 --> 00:40:56,439
Speaker 6: that was losing a million dollars a month, it could

868
00:40:56,440 --> 00:40:59,839
Speaker 6: a taint everything. DC could at taint everything. I ended

869
00:40:59,920 --> 00:41:02,919
Speaker 6: up up some one hundred twenty minon outs they pross

870
00:41:02,920 --> 00:41:04,160
Speaker 6: all over the place, and.

871
00:41:04,200 --> 00:41:06,320
Speaker 4: Then the very oh so yeah, I don't want to

872
00:41:06,360 --> 00:41:08,279
Speaker 4: just breeze over one hundred and twenty million. You sold

873
00:41:08,320 --> 00:41:10,640
Speaker 4: the company for so all right, so what is the

874
00:41:10,719 --> 00:41:12,520
Speaker 4: What was the process of you selling that? Like when

875
00:41:12,680 --> 00:41:14,520
Speaker 4: was you saying, okay, this is the time to start

876
00:41:14,600 --> 00:41:16,840
Speaker 4: actively looking for somebody to buy it, or did they

877
00:41:16,920 --> 00:41:20,080
Speaker 4: approach you and talk about that, like how you actually

878
00:41:20,360 --> 00:41:22,239
Speaker 4: value the ebadah and all of that stuff, like how

879
00:41:22,280 --> 00:41:24,440
Speaker 4: you value the selling of a company, because a lot

880
00:41:24,480 --> 00:41:26,080
Speaker 4: of times people just hit like I sold the company,

881
00:41:26,120 --> 00:41:28,320
Speaker 4: but they don't actually know like the details that go

882
00:41:28,440 --> 00:41:29,400
Speaker 4: into selling a company.

883
00:41:29,600 --> 00:41:33,880
Speaker 2: Yeah, so okay, first.

884
00:41:38,280 --> 00:41:41,719
Speaker 6: In our industry, because I got so many stories, I

885
00:41:41,760 --> 00:41:45,200
Speaker 6: can tell you what should be fun, But in our

886
00:41:45,239 --> 00:41:46,920
Speaker 6: industry there.

887
00:41:47,000 --> 00:41:50,920
Speaker 3: Is This episode is brought to you by P and

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Speaker 7: Erners.

900
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Speaker 2: What's up?

901
00:42:33,160 --> 00:42:35,600
Speaker 3: You ever walk into a small business and everything just

902
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Speaker 3: works like The checkout is fast, the receipts are digital,

903
00:42:39,520 --> 00:42:42,480
Speaker 3: tipping is a breeze, and you're out the door before

904
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Speaker 3: the line even builds Odds are they're using Square? We

905
00:42:46,800 --> 00:42:49,279
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906
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907
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Speaker 3: at a pop up market, or even one of our

908
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Speaker 3: merch partners. Square makes it easy for them to take payments,

909
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910
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911
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Speaker 3: just thinking about launching something soon. Square is hands down

912
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913
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914
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915
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916
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918
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Speaker 3: don't hesitate. Let's Square handle the back end so you

919
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Speaker 3: can keep pushing your vision forward.

920
00:43:39,880 --> 00:43:42,560
Speaker 8: Coach, the energy out there felt different. What changed for

921
00:43:42,640 --> 00:43:43,239
Speaker 8: the team today?

922
00:43:43,360 --> 00:43:45,480
Speaker 7: It was a new game day scratches from the California

923
00:43:45,560 --> 00:43:48,920
Speaker 7: Lottery players everything. Those games sent the team's energy through

924
00:43:48,960 --> 00:43:49,239
Speaker 7: the roof.

925
00:43:49,360 --> 00:43:51,320
Speaker 8: Are you saying it was the off field play that

926
00:43:51,400 --> 00:43:52,719
Speaker 8: made the difference on the field.

927
00:43:52,600 --> 00:43:55,319
Speaker 7: Hey, little play makes your day, and today it made

928
00:43:55,360 --> 00:43:57,080
Speaker 7: the game that's off of now.

929
00:43:57,239 --> 00:43:59,919
Speaker 8: Coach, one more question play than you Los Angeles Charger,

930
00:44:00,120 --> 00:44:03,080
Speaker 8: San Francisco forty nine ers and Los Angeles Rams scratchers

931
00:44:03,120 --> 00:44:06,080
Speaker 8: from the California Lottery. A little play can make your day.

932
00:44:06,760 --> 00:44:08,680
Speaker 8: Pease play Responsibly. Must be eighteen years or older to

933
00:44:08,719 --> 00:44:09,760
Speaker 8: purchase or claim.

934
00:44:09,560 --> 00:44:13,200
Speaker 6: Framework for how you value our companies right, and it's

935
00:44:13,280 --> 00:44:17,000
Speaker 6: ebit US roughly eight times EBI to right. So you

936
00:44:17,040 --> 00:44:18,839
Speaker 6: could value it that way, or as I told you before,

937
00:44:18,920 --> 00:44:21,000
Speaker 6: you value it on the total number of membership, So

938
00:44:21,120 --> 00:44:23,399
Speaker 6: call it like a million dollars of members. Forty thousand

939
00:44:23,400 --> 00:44:25,879
Speaker 6: members have million dollars, but it'd be like forty million

940
00:44:25,880 --> 00:44:31,400
Speaker 6: dollars right, Or you could do it boyut EBITDA. So

941
00:44:32,320 --> 00:44:34,120
Speaker 6: but what happened with US is I didn't want to

942
00:44:34,160 --> 00:44:36,680
Speaker 6: sell my company. I wanted to keep it and keep

943
00:44:36,680 --> 00:44:38,440
Speaker 6: growing it. The problem I ran into is even though

944
00:44:38,440 --> 00:44:40,440
Speaker 6: we were the highest performing on every metric, we're the

945
00:44:40,480 --> 00:44:43,400
Speaker 6: most profitable, you know, every metric about getting people healthier,

946
00:44:43,400 --> 00:44:45,640
Speaker 6: we were the best at it. I couldn't win other

947
00:44:45,719 --> 00:44:47,760
Speaker 6: states because what I tell you, we had no black governors.

948
00:44:49,400 --> 00:44:51,360
Speaker 6: You know, it's just and you had that black governor

949
00:44:51,440 --> 00:44:53,920
Speaker 6: to push to win a contract, and we didn't have it.

950
00:44:54,480 --> 00:44:56,600
Speaker 6: And my PE partners, I didn't want to be deluted,

951
00:44:56,640 --> 00:44:58,759
Speaker 6: so I don't want them putting up too much money,

952
00:44:59,080 --> 00:45:01,080
Speaker 6: and then I get deluted. So I'm owning you know,

953
00:45:01,160 --> 00:45:03,360
Speaker 6: five ten percent of company where I built it from scratch.

954
00:45:03,560 --> 00:45:04,880
Speaker 6: It's the time I was owning forty I want to

955
00:45:04,960 --> 00:45:10,040
Speaker 6: keep my forty. See all these different factors. So but

956
00:45:10,160 --> 00:45:12,920
Speaker 6: then what happened, let's shared with you. So anyway, so

957
00:45:13,000 --> 00:45:16,319
Speaker 6: my pe firm when they bought in, So I started

958
00:45:16,360 --> 00:45:19,000
Speaker 6: a company without private equity. I had a partner of

959
00:45:19,040 --> 00:45:20,640
Speaker 6: mine who I met out here in La Do, a

960
00:45:20,680 --> 00:45:24,120
Speaker 6: good friend of mine who arranged to put up the

961
00:45:24,200 --> 00:45:27,200
Speaker 6: first couple million dollars. And then I end up having

962
00:45:27,239 --> 00:45:32,600
Speaker 6: them bought out because relationship dynamics got difficult to manage through.

963
00:45:33,440 --> 00:45:35,160
Speaker 2: So got in bought out and we got bought out.

964
00:45:35,320 --> 00:45:38,279
Speaker 6: The company was worth twenty five million dollars total, so

965
00:45:38,360 --> 00:45:40,279
Speaker 6: p came in at twenty five million. But remember I

966
00:45:40,360 --> 00:45:44,640
Speaker 6: sould was one hundred twenty millions. But when they came

967
00:45:44,680 --> 00:45:46,640
Speaker 6: in three years earlier, you know, their whole thing is

968
00:45:46,680 --> 00:45:48,719
Speaker 6: you make a profit, you create value, then you sell

969
00:45:48,760 --> 00:45:51,719
Speaker 6: it and you have this you know this game. So

970
00:45:51,840 --> 00:45:53,440
Speaker 6: they had been looking to sell the company, but I

971
00:45:53,560 --> 00:45:55,839
Speaker 6: kept wanting to stay in the game because to me, shit,

972
00:45:55,880 --> 00:45:58,439
Speaker 6: if I'm worth a hundred million dollars now and we're small,

973
00:45:58,480 --> 00:46:01,320
Speaker 6: if I get bigger, we're worth more a day and

974
00:46:01,360 --> 00:46:04,680
Speaker 6: two billion, I mean I can keep going. But one

975
00:46:04,800 --> 00:46:06,960
Speaker 6: thing that I think was a mistake, that I made Is.

976
00:46:07,040 --> 00:46:10,480
Speaker 6: I started making so much money that I got got loose,

977
00:46:10,880 --> 00:46:12,239
Speaker 6: and I was just starting to spend too much.

978
00:46:12,880 --> 00:46:14,520
Speaker 2: So I was sharing with Shot earlier.

979
00:46:14,719 --> 00:46:19,160
Speaker 6: You know, I did, amongst many things, I had this

980
00:46:19,320 --> 00:46:22,799
Speaker 6: big party in New York City where I told him

981
00:46:22,800 --> 00:46:23,840
Speaker 6: I also had Tretch.

982
00:46:24,000 --> 00:46:26,880
Speaker 2: I had Naughty Boy Naguor, I had uh at Christmas.

983
00:46:26,920 --> 00:46:28,480
Speaker 2: At Christmas, PRIs probably had Genuine.

984
00:46:28,520 --> 00:46:30,879
Speaker 6: I danced with Genuine doing the moves and ship.

985
00:46:30,960 --> 00:46:31,640
Speaker 3: I mean I was.

986
00:46:32,600 --> 00:46:35,560
Speaker 2: We had Freddie Jackson, you call it.

987
00:46:35,800 --> 00:46:38,880
Speaker 6: I had everybody showing up. I was like reinvigorating careers.

988
00:46:40,440 --> 00:46:44,680
Speaker 6: Real talk the first verses. Yeah, real talk. But but

989
00:46:44,760 --> 00:46:46,279
Speaker 6: let me tell you what happened. So when you're in

990
00:46:46,400 --> 00:46:49,840
Speaker 6: healthcare in government, there's always these fundraisers, small not for

991
00:46:49,840 --> 00:46:52,360
Speaker 6: profits trying to raise money, and it's like this important

992
00:46:52,360 --> 00:46:55,440
Speaker 6: thing in all the politicians show up. So I'm at

993
00:46:55,520 --> 00:47:00,560
Speaker 6: this Christmas dinner and this one woman who's like CEO

994
00:47:00,719 --> 00:47:03,040
Speaker 6: of some small not for profit organizational healthcare.

995
00:47:03,120 --> 00:47:03,800
Speaker 2: She comes up to me.

996
00:47:04,560 --> 00:47:06,399
Speaker 6: She yeah, time to hear you making all this money.

997
00:47:07,040 --> 00:47:08,040
Speaker 6: You know you're doing real well.

998
00:47:08,160 --> 00:47:08,319
Speaker 2: Huh.

999
00:47:09,080 --> 00:47:11,120
Speaker 6: And when she made that comment, I knew.

1000
00:47:13,080 --> 00:47:13,840
Speaker 2: Coming out just like.

1001
00:47:13,800 --> 00:47:18,000
Speaker 6: Remember, yeah, man said put the mink on through and

1002
00:47:18,080 --> 00:47:20,120
Speaker 6: through it in in the in the uh, in the fireplace,

1003
00:47:20,640 --> 00:47:23,160
Speaker 6: and I'm like, damn the word and got out.

1004
00:47:23,120 --> 00:47:25,520
Speaker 3: The trusts, the Pink Catalact and good Fellas Pink Cali,

1005
00:47:25,560 --> 00:47:27,200
Speaker 3: good Fellas, Oh take that ship back.

1006
00:47:27,800 --> 00:47:28,160
Speaker 2: It was.

1007
00:47:28,760 --> 00:47:30,880
Speaker 6: But I bought a Bentley when I got to d C.

1008
00:47:31,000 --> 00:47:33,360
Speaker 6: I had a red uh Note eleven because of my

1009
00:47:33,480 --> 00:47:35,319
Speaker 6: first company. But I never drove it and I sold

1010
00:47:35,360 --> 00:47:37,680
Speaker 6: it because I had to be low key. But then

1011
00:47:37,719 --> 00:47:39,359
Speaker 6: you start making so much money you just can't help yourself.

1012
00:47:39,440 --> 00:47:41,319
Speaker 2: I bought a Bentley. I'm kind of I'm driving.

1013
00:47:41,520 --> 00:47:44,680
Speaker 6: I'm driving, driving like this and ship like real talking

1014
00:47:44,719 --> 00:47:47,560
Speaker 6: my hat down out in the city and it's in

1015
00:47:47,680 --> 00:47:48,400
Speaker 6: DC is small.

1016
00:47:49,160 --> 00:47:50,000
Speaker 2: Well, I couldn't.

1017
00:47:50,000 --> 00:47:53,240
Speaker 6: You can't control yourself. You cannot control yourself in this situation.

1018
00:47:54,320 --> 00:47:57,040
Speaker 6: In the situation itself possible, It's impossible.

1019
00:47:57,480 --> 00:48:00,560
Speaker 2: That's why every movie the same should happen. No matter

1020
00:48:00,600 --> 00:48:01,960
Speaker 2: how much advice you get, you couldn't do it.

1021
00:48:03,719 --> 00:48:05,920
Speaker 6: So but but here's a here's a but here's a

1022
00:48:06,000 --> 00:48:09,239
Speaker 6: real life story. So right, the pink Cadillac, you know,

1023
00:48:09,360 --> 00:48:14,080
Speaker 6: the Chinchilla. When I was growing up, it's about the

1024
00:48:14,120 --> 00:48:15,960
Speaker 6: time we lost everything and I came back home to

1025
00:48:16,000 --> 00:48:18,880
Speaker 6: try to save it. My stepfather had just sold a

1026
00:48:18,920 --> 00:48:22,239
Speaker 6: piece of property which was attached to the hospital for

1027
00:48:22,320 --> 00:48:24,840
Speaker 6: two million dollars and he was running around with his

1028
00:48:24,880 --> 00:48:27,040
Speaker 6: two million dollar check and he was showing it off.

1029
00:48:27,440 --> 00:48:28,920
Speaker 6: It was one moment he was in the casino in

1030
00:48:28,960 --> 00:48:32,239
Speaker 6: Detroit and he and it was this dude I don't

1031
00:48:32,440 --> 00:48:35,880
Speaker 6: mention his name who my stepfather was bragging to, Oh,

1032
00:48:35,920 --> 00:48:37,400
Speaker 6: you know, y'all think y'all hurting me because he was

1033
00:48:37,440 --> 00:48:39,200
Speaker 6: going to beat out of politics. I said, I just

1034
00:48:39,239 --> 00:48:40,920
Speaker 6: got two may and he's showing a two million dollars check,

1035
00:48:41,520 --> 00:48:43,560
Speaker 6: and I truly believe and he'll tell you that was

1036
00:48:43,760 --> 00:48:47,239
Speaker 6: the start of the full collapse, right. He was he

1037
00:48:47,280 --> 00:48:49,520
Speaker 6: could maybe fix it. But after that it just it

1038
00:48:49,640 --> 00:48:52,200
Speaker 6: was a rap because this dude controlled the hospital. He

1039
00:48:52,239 --> 00:48:53,680
Speaker 6: was a general counsel for the hospital, and they just

1040
00:48:53,719 --> 00:48:57,080
Speaker 6: started suing the h most. The long story short, I

1041
00:48:57,239 --> 00:48:59,920
Speaker 6: knew at that moment it was a rap for me.

1042
00:49:00,680 --> 00:49:04,840
Speaker 6: So therefore I needed to sell the company to extract

1043
00:49:04,840 --> 00:49:07,000
Speaker 6: as much value as I can before end up losing everything.

1044
00:49:07,040 --> 00:49:09,520
Speaker 6: And the thing about government contracts, in any contract business,

1045
00:49:10,640 --> 00:49:13,440
Speaker 6: is it has its positives, it's pros, It has its

1046
00:49:13,480 --> 00:49:17,520
Speaker 6: cons Now. The positives contract business is that once you

1047
00:49:17,560 --> 00:49:21,799
Speaker 6: have a contract, you got revenue flow right, Boom revenue flaw.

1048
00:49:23,760 --> 00:49:27,440
Speaker 6: The downside is when you lose your contract, animo revenue

1049
00:49:27,480 --> 00:49:30,200
Speaker 6: flow right. So I went from getting two an a

1050
00:49:30,200 --> 00:49:32,799
Speaker 6: million dollars year coming through. So now if I don't

1051
00:49:32,840 --> 00:49:34,919
Speaker 6: have nothing, I lose my contract, I have zero.

1052
00:49:35,840 --> 00:49:36,400
Speaker 2: So I'm not a.

1053
00:49:36,440 --> 00:49:39,479
Speaker 6: Situation where I could go from verry risky. It's all risks,

1054
00:49:39,520 --> 00:49:42,480
Speaker 6: it's all enough and it's literally all enoughing right now.

1055
00:49:42,480 --> 00:49:44,759
Speaker 6: If you're in retail business, what our cause like red

1056
00:49:44,800 --> 00:49:47,440
Speaker 6: restaurant are you're selling something, whatever you're doing, and you

1057
00:49:47,600 --> 00:49:51,040
Speaker 6: have customers buying your product and service, they don't just

1058
00:49:51,080 --> 00:49:53,480
Speaker 6: cut you off. You know you have a real business,

1059
00:49:53,800 --> 00:49:56,279
Speaker 6: right But in contract you can lose everything. The problem

1060
00:49:56,320 --> 00:49:58,160
Speaker 6: with the retails you got to build this big business.

1061
00:49:58,200 --> 00:49:59,640
Speaker 6: I start off, I got a two a million dollars

1062
00:49:59,680 --> 00:50:00,359
Speaker 6: year RepA damn.

1063
00:50:00,480 --> 00:50:03,919
Speaker 2: I mean it's big difference, big difference. You got to y'all.

1064
00:50:04,000 --> 00:50:04,840
Speaker 2: You know, you got to build.

1065
00:50:04,960 --> 00:50:07,600
Speaker 6: But then when you get it, you're not as much

1066
00:50:07,880 --> 00:50:11,439
Speaker 6: at risk contract, you're full risk. My partners were putting

1067
00:50:11,440 --> 00:50:13,880
Speaker 6: pressure on me to sell it, and I'm like, all right,

1068
00:50:13,880 --> 00:50:15,120
Speaker 6: I need to sell this company before I end up

1069
00:50:15,120 --> 00:50:15,439
Speaker 6: with nothing.

1070
00:50:15,840 --> 00:50:20,520
Speaker 3: So you sold January twenty twenty. Yeah, and then you

1071
00:50:20,719 --> 00:50:23,600
Speaker 3: announced three weeks later JEDDOK, which is where you're at now.

1072
00:50:23,680 --> 00:50:25,600
Speaker 2: One week later, we both I want to just go

1073
00:50:25,760 --> 00:50:26,359
Speaker 2: back to you quick.

1074
00:50:26,719 --> 00:50:29,880
Speaker 4: So this is very important for people, especially black entrepreneurs,

1075
00:50:29,920 --> 00:50:32,320
Speaker 4: because a lot of times I feel like we have

1076
00:50:33,040 --> 00:50:34,640
Speaker 4: it's a gift in the curse, but we have a

1077
00:50:34,840 --> 00:50:38,680
Speaker 4: deep emotional attachment to our business and people always criticize,

1078
00:50:38,760 --> 00:50:41,160
Speaker 4: not always by lives. Time they criticize people, it's like, well,

1079
00:50:41,200 --> 00:50:43,640
Speaker 4: we can never really grow as a community if we

1080
00:50:43,719 --> 00:50:47,080
Speaker 4: keep selling our businesses. But when you have to understand

1081
00:50:47,080 --> 00:50:49,600
Speaker 4: that there's no emotional attachment to business, you have to

1082
00:50:49,640 --> 00:50:52,480
Speaker 4: look at it from a very rational standpoint, and it's

1083
00:50:52,600 --> 00:50:54,400
Speaker 4: like you can sell a business and then scale to

1084
00:50:54,560 --> 00:50:57,880
Speaker 4: another business as well. So once you saw that a

1085
00:50:58,719 --> 00:51:01,400
Speaker 4: they was going to come at you because your lifestyle

1086
00:51:01,600 --> 00:51:05,120
Speaker 4: and then be just the risk, you just realized you

1087
00:51:05,200 --> 00:51:07,920
Speaker 4: did a calculation in your head, yep, and said it's

1088
00:51:07,960 --> 00:51:08,320
Speaker 4: time to go.

1089
00:51:08,520 --> 00:51:10,560
Speaker 2: That's right, exactly right.

1090
00:51:10,640 --> 00:51:13,640
Speaker 6: And because the where I grew up and again, my

1091
00:51:13,760 --> 00:51:15,680
Speaker 6: mother had a twelve care diamond ring and she gave

1092
00:51:15,719 --> 00:51:18,160
Speaker 6: way for practically nothing, and all the furs and the

1093
00:51:18,320 --> 00:51:20,520
Speaker 6: cars and the house and everything, because they were trying

1094
00:51:20,560 --> 00:51:24,680
Speaker 6: to keep that business open that clearly was closing. Gave

1095
00:51:24,800 --> 00:51:27,920
Speaker 6: way everything trying to keep it open. I realized that

1096
00:51:27,960 --> 00:51:31,600
Speaker 6: the most attachment was more of a curse and a blessing.

1097
00:51:31,719 --> 00:51:33,920
Speaker 6: Did you reach out to Blue Cross Bushel or did

1098
00:51:33,920 --> 00:51:35,919
Speaker 6: they reach out to you to sell it? And said

1099
00:51:35,920 --> 00:51:39,759
Speaker 6: they reached out to me. They reached out and then

1100
00:51:41,160 --> 00:51:43,279
Speaker 6: they were trying to get rid of me, so you know.

1101
00:51:43,440 --> 00:51:46,920
Speaker 6: So then the district did this thing where they did

1102
00:51:47,120 --> 00:51:49,200
Speaker 6: another procurement, a new contract. So I just want a

1103
00:51:49,200 --> 00:51:52,680
Speaker 6: five year contract. Like eight months later they say, no,

1104
00:51:53,520 --> 00:51:56,200
Speaker 6: we're gonna do it again. We're gonna do another contract.

1105
00:51:56,239 --> 00:51:57,440
Speaker 6: See now you have to go through the process of

1106
00:51:57,480 --> 00:52:00,640
Speaker 6: winning a contract again. I just won, so I thought,

1107
00:52:00,640 --> 00:52:03,319
Speaker 6: except for five years, I mean, you know, I can

1108
00:52:03,400 --> 00:52:05,719
Speaker 6: try to grow or whatever. But then eight months later

1109
00:52:05,719 --> 00:52:08,080
Speaker 6: they put gonna do another procurement after they cut my

1110
00:52:08,160 --> 00:52:10,480
Speaker 6: race twice. Remember not making so much money, they cut

1111
00:52:10,480 --> 00:52:12,360
Speaker 6: my rates twice, only me, and then they did this

1112
00:52:12,400 --> 00:52:14,359
Speaker 6: new procurement, which to me was a message they kicking

1113
00:52:14,400 --> 00:52:14,640
Speaker 6: me out.

1114
00:52:15,040 --> 00:52:19,279
Speaker 2: It's a rap. So but I love out of DC.

1115
00:52:21,160 --> 00:52:24,000
Speaker 6: You know, Blue Cross Connect connected with me said they

1116
00:52:24,040 --> 00:52:26,440
Speaker 6: wanted to be in the medicaid space and the company

1117
00:52:26,480 --> 00:52:29,759
Speaker 6: they bought didn't win the contract, but instead they were

1118
00:52:29,840 --> 00:52:31,520
Speaker 6: encouraged and not negotiate a good deal.

1119
00:52:32,840 --> 00:52:37,440
Speaker 2: Anyway. Yeah, yeah, so so you sell that then and

1120
00:52:37,480 --> 00:52:39,279
Speaker 2: then jet That's yes, I was saying.

1121
00:52:39,560 --> 00:52:42,279
Speaker 3: And as you see the walls closing in, yeah, you're

1122
00:52:42,280 --> 00:52:44,279
Speaker 3: already drawn up the vision for the next thing.

1123
00:52:44,880 --> 00:52:46,800
Speaker 2: So talk about that process.

1124
00:52:47,000 --> 00:52:49,560
Speaker 3: I know it's closing in, but here comes the next thing,

1125
00:52:49,640 --> 00:52:52,200
Speaker 3: which is Jet Doc, which you announced a week after

1126
00:52:52,280 --> 00:52:52,560
Speaker 3: you saw.

1127
00:52:52,800 --> 00:52:53,000
Speaker 2: Yeah.

1128
00:52:53,120 --> 00:52:57,120
Speaker 6: So I didn't like, you know, I didn't want to

1129
00:52:57,160 --> 00:52:59,200
Speaker 6: sell my company, and I felt like I was being

1130
00:52:59,480 --> 00:53:04,200
Speaker 6: forced out, and not just in d C, but I

1131
00:53:04,320 --> 00:53:07,120
Speaker 6: felt like I'm the smartest person in healthcare, and I

1132
00:53:07,160 --> 00:53:08,000
Speaker 6: wrote a book to prove it.

1133
00:53:08,520 --> 00:53:09,040
Speaker 2: I really am.

1134
00:53:10,040 --> 00:53:12,040
Speaker 6: No one knows better than I do, because no one's

1135
00:53:12,040 --> 00:53:14,200
Speaker 6: been found of CEO like I have. So it's one

1136
00:53:14,239 --> 00:53:15,640
Speaker 6: thing you know something because you work for somebody, another

1137
00:53:15,640 --> 00:53:17,880
Speaker 6: thing like what y'all doing? You know that you know

1138
00:53:17,880 --> 00:53:18,279
Speaker 6: what I'm saying.

1139
00:53:18,280 --> 00:53:24,120
Speaker 2: It's different. So I knew it. I'm smart.

1140
00:53:24,160 --> 00:53:26,400
Speaker 6: I grew up in it, so I fifth second generation,

1141
00:53:26,560 --> 00:53:29,360
Speaker 6: I mean and when my mother and my stepfather started

1142
00:53:29,400 --> 00:53:33,400
Speaker 6: in the business, they were guinea pigging this concept to

1143
00:53:33,440 --> 00:53:35,279
Speaker 6: medicate managed care. And of course they started in the

1144
00:53:35,360 --> 00:53:37,959
Speaker 6: black communities because that's where the guinea pig. But because

1145
00:53:38,000 --> 00:53:39,560
Speaker 6: of that, my parents had the first experience with it.

1146
00:53:39,680 --> 00:53:41,120
Speaker 6: So like, no one knows the game better than I do.

1147
00:53:41,560 --> 00:53:43,400
Speaker 6: So I felt like I was being put on the

1148
00:53:43,440 --> 00:53:46,320
Speaker 6: sideline of the industry right, and I was mad about it.

1149
00:53:47,080 --> 00:53:49,480
Speaker 6: And so even though I knew I was about to

1150
00:53:49,480 --> 00:53:51,799
Speaker 6: make this money, I was pissed. And so I started

1151
00:53:51,800 --> 00:53:54,080
Speaker 6: another company and my plan was and launched his next

1152
00:53:54,120 --> 00:53:55,840
Speaker 6: company a week later, and then you know, shocked the

1153
00:53:55,840 --> 00:54:01,440
Speaker 6: world with that. Unfortunately that didn't happened it. You know,

1154
00:54:01,880 --> 00:54:05,560
Speaker 6: I launched jet Dot February first of twenty twenty with

1155
00:54:05,719 --> 00:54:07,560
Speaker 6: this concept of telehealth cause I knew that's where the

1156
00:54:07,680 --> 00:54:10,239
Speaker 6: game was going pre pandemic, because I looked through all

1157
00:54:10,239 --> 00:54:12,759
Speaker 6: my again, I've looked to all my claims. Oh, I

1158
00:54:12,800 --> 00:54:15,279
Speaker 6: got a lot of claims with your little claims which

1159
00:54:15,320 --> 00:54:18,160
Speaker 6: can be done over telephone versus somebody having to park

1160
00:54:18,239 --> 00:54:20,160
Speaker 6: the car going to the office see a doctor for

1161
00:54:20,480 --> 00:54:22,959
Speaker 6: zyptromac a Z pack. They's doing on the phone boom

1162
00:54:23,000 --> 00:54:24,279
Speaker 6: ba boom. And the doctor is not a big risk

1163
00:54:24,320 --> 00:54:27,680
Speaker 6: because it's a Z pack. It's easy, right, So I

1164
00:54:27,760 --> 00:54:29,120
Speaker 6: knew that's where when I looked at my claims, I

1165
00:54:29,160 --> 00:54:30,120
Speaker 6: paid off many claims.

1166
00:54:30,360 --> 00:54:32,359
Speaker 2: You know, boom. This is where healthcare is going.

1167
00:54:32,840 --> 00:54:36,160
Speaker 6: I launched February first on my own technology building myself.

1168
00:54:36,280 --> 00:54:39,600
Speaker 6: But then pandemic hits like March fifteenth, and I go

1169
00:54:39,680 --> 00:54:42,319
Speaker 6: from being early till late because now my tech I'm

1170
00:54:42,480 --> 00:54:43,640
Speaker 6: I just I'm a month in the building.

1171
00:54:43,680 --> 00:54:44,000
Speaker 2: My tech.

1172
00:54:44,280 --> 00:54:47,960
Speaker 6: My tech went ready until until September.

1173
00:54:48,680 --> 00:54:50,439
Speaker 2: Yeah, and I was late.

1174
00:54:50,480 --> 00:54:52,480
Speaker 6: And then I thought, okay, well I'm still good. So

1175
00:54:52,520 --> 00:54:54,520
Speaker 6: I'm self financing because I want partners, because I had

1176
00:54:54,520 --> 00:54:56,520
Speaker 6: pee partners last time, private equity.

1177
00:54:57,000 --> 00:54:59,640
Speaker 2: Self finance that don't let that go over your heah. Yeah.

1178
00:55:00,080 --> 00:55:02,040
Speaker 6: But sometimes a good idea, sometimes it's not the great idea.

1179
00:55:02,080 --> 00:55:02,560
Speaker 2: It depends.

1180
00:55:03,080 --> 00:55:05,000
Speaker 6: But I wanted full control of this. I thought it

1181
00:55:05,040 --> 00:55:07,160
Speaker 6: was going to be like a Grand Slam, A self

1182
00:55:07,200 --> 00:55:10,400
Speaker 6: financed it. And then I go out here to market

1183
00:55:11,000 --> 00:55:12,560
Speaker 6: like being about to kill them. It was right before

1184
00:55:12,640 --> 00:55:14,839
Speaker 6: Labor Day last year. I'm about to kill them. I'm

1185
00:55:14,840 --> 00:55:17,160
Speaker 6: about to give away you know, free doctor visits. But

1186
00:55:17,280 --> 00:55:18,920
Speaker 6: because I had stripe on the app. I had to

1187
00:55:19,040 --> 00:55:22,160
Speaker 6: charge lease of dollars. I'm gonna do dollar dollar doctor visits.

1188
00:55:23,080 --> 00:55:26,200
Speaker 6: And the next morning I wake up, I didn't had

1189
00:55:26,200 --> 00:55:28,480
Speaker 6: that mini. You know what I'm saying people on my app?

1190
00:55:28,840 --> 00:55:30,879
Speaker 6: Why now spend the money on advertising? And I look

1191
00:55:30,920 --> 00:55:34,160
Speaker 6: at all the comments. They think they're, you know, not

1192
00:55:34,320 --> 00:55:37,960
Speaker 6: real doctors, the Dr Pepper, you know, voodoo doctors, doctor

1193
00:55:38,040 --> 00:55:43,440
Speaker 6: dre whatever, you know, doctor day, doctor Dre. It wasn't real,

1194
00:55:43,520 --> 00:55:45,680
Speaker 6: and so people didn't assess value to what I was

1195
00:55:45,920 --> 00:55:48,600
Speaker 6: trying to sell, and really is amazing value properties and

1196
00:55:48,680 --> 00:55:52,040
Speaker 6: actually included discount pharmacy where anyone can go to any

1197
00:55:52,040 --> 00:55:53,920
Speaker 6: farms in the country get a priest to cost some medication.

1198
00:55:54,239 --> 00:55:54,920
Speaker 2: It's unheard of.

1199
00:55:55,400 --> 00:55:57,600
Speaker 6: But because I wasn't getting attraction I expected to get,

1200
00:55:58,040 --> 00:56:00,200
Speaker 6: I decided to do celebrity route like everybody else and

1201
00:56:00,280 --> 00:56:02,320
Speaker 6: go influencer. I got with Rick Ross and then we

1202
00:56:02,680 --> 00:56:06,160
Speaker 6: launched this big thing earlier this year, and again I

1203
00:56:06,239 --> 00:56:08,600
Speaker 6: actually kind of got it working. You know, my number

1204
00:56:09,239 --> 00:56:12,840
Speaker 6: is one hundred people per day. If I got one

1205
00:56:12,880 --> 00:56:15,160
Speaker 6: hundred people to day sign up for jet Doc, it

1206
00:56:15,280 --> 00:56:18,399
Speaker 6: was booming a subscription model. The problem is I g's

1207
00:56:18,440 --> 00:56:21,319
Speaker 6: like fifty people to day. Actually that wasn't a problem.

1208
00:56:21,360 --> 00:56:23,160
Speaker 6: Fifty people day would have been okay. The problem is

1209
00:56:23,160 --> 00:56:24,640
Speaker 6: that I spent four hundred thousand dollars that a month

1210
00:56:24,680 --> 00:56:27,759
Speaker 6: in advertising. I ain't spent one thousand dollars a month

1211
00:56:28,680 --> 00:56:30,520
Speaker 6: for the fifty people a day. I just can't you

1212
00:56:30,560 --> 00:56:31,080
Speaker 6: know what I'm saying.

1213
00:56:31,160 --> 00:56:35,040
Speaker 2: They can't justify it. No, I ain't doing that. So

1214
00:56:36,640 --> 00:56:37,560
Speaker 2: but that was my problem.

1215
00:56:39,280 --> 00:56:41,560
Speaker 6: So then I had to make another pivot. Business people

1216
00:56:41,560 --> 00:56:43,000
Speaker 6: do if you're gonna be in business. So I pivoted.

1217
00:56:43,120 --> 00:56:45,799
Speaker 6: My pivot was I'm gonna go back. Remember the guy

1218
00:56:45,840 --> 00:56:49,040
Speaker 6: I told you who I made chairman of my board,

1219
00:56:49,800 --> 00:56:51,120
Speaker 6: who's at the highest level of health care in this

1220
00:56:51,160 --> 00:56:53,160
Speaker 6: country most probably top ten most problem for people health

1221
00:56:53,200 --> 00:56:57,080
Speaker 6: care in this country by far, used to run CMS.

1222
00:56:58,320 --> 00:56:59,800
Speaker 6: He's a friend of mine. I hit him about what

1223
00:56:59,840 --> 00:57:04,480
Speaker 6: I'm doing. They gave me a recurring license contract, which

1224
00:57:04,560 --> 00:57:06,319
Speaker 6: is valuable when you're in the tech business. So back

1225
00:57:06,360 --> 00:57:11,320
Speaker 6: to valuation, service business and healthcare. Eight to ten x EBITA,

1226
00:57:11,600 --> 00:57:12,760
Speaker 6: which is pre tax profit.

1227
00:57:13,560 --> 00:57:14,600
Speaker 2: You know what the EBIT the stands for.

1228
00:57:14,840 --> 00:57:20,040
Speaker 6: Yeah, Earnings before interest, taxes, depreciation and amortization EBIT die,

1229
00:57:21,760 --> 00:57:24,400
Speaker 6: so pre tax profit eight to ten x is roughly

1230
00:57:24,400 --> 00:57:25,920
Speaker 6: ware you're gonna end up services.

1231
00:57:25,960 --> 00:57:28,280
Speaker 2: But if you're in tech, it's like twenty two or

1232
00:57:28,280 --> 00:57:28,600
Speaker 2: something like that.

1233
00:57:29,080 --> 00:57:33,480
Speaker 6: Bank Bank, And that's why I want to get a

1234
00:57:33,560 --> 00:57:36,680
Speaker 6: tech That's why they did detect. So they're gonna give

1235
00:57:36,680 --> 00:57:38,240
Speaker 6: me a million dollars a year in recurrent revenue, so

1236
00:57:38,360 --> 00:57:40,040
Speaker 6: call time. So well that's twenty two MILLI dollars country,

1237
00:57:40,280 --> 00:57:41,800
Speaker 6: I'm worth twenty two million off the top. I actually

1238
00:57:41,840 --> 00:57:43,200
Speaker 6: got a eventuation of seventeen million.

1239
00:57:43,440 --> 00:57:46,560
Speaker 4: And that is I'm glad you said that. So that

1240
00:57:46,840 --> 00:57:49,640
Speaker 4: is how you value a company. It's like the money

1241
00:57:49,720 --> 00:57:51,320
Speaker 4: that you're making. I'm trying to break this down as

1242
00:57:51,360 --> 00:57:53,560
Speaker 4: easy for people to understand as possible. The money that

1243
00:57:53,680 --> 00:57:55,680
Speaker 4: you make after all the expenses and all of that

1244
00:57:55,840 --> 00:57:58,000
Speaker 4: is done every single year. And then you have multiple

1245
00:57:58,080 --> 00:58:00,640
Speaker 4: So depending on what industry you're in, that will determine

1246
00:58:00,680 --> 00:58:03,440
Speaker 4: your multiple. So you were saying healthcare's multiples of eight,

1247
00:58:03,920 --> 00:58:07,760
Speaker 4: but in tech is like in twenty plus twenty plus.

1248
00:58:07,840 --> 00:58:10,080
Speaker 6: And here's another thing about tech. Tech will give you

1249
00:58:10,720 --> 00:58:14,520
Speaker 6: a multiplier of top line revenue. I'm talking about ebit

1250
00:58:14,560 --> 00:58:18,520
Speaker 6: does after expenses and taxes. I mean, it's after expenses

1251
00:58:18,640 --> 00:58:24,040
Speaker 6: net is net. Tech is gross gross. So you're doing

1252
00:58:24,080 --> 00:58:25,960
Speaker 6: a million dollars a year, you getting ten fifteen, that's

1253
00:58:26,000 --> 00:58:29,240
Speaker 6: fifteen million, your a couple of contracts. Now you're forty million.

1254
00:58:29,320 --> 00:58:30,640
Speaker 6: I mean, and you're just doing tech.

1255
00:58:31,400 --> 00:58:32,960
Speaker 2: So why is that?

1256
00:58:33,040 --> 00:58:34,960
Speaker 6: Because tech is just so explosive and it's just the

1257
00:58:35,240 --> 00:58:38,400
Speaker 6: because it's scale, so scalable, because if wor it's here,

1258
00:58:38,400 --> 00:58:39,160
Speaker 6: you'll work anywhere.

1259
00:58:39,360 --> 00:58:39,800
Speaker 2: It's not.

1260
00:58:40,480 --> 00:58:43,600
Speaker 6: Once you've build a tech and it has an application,

1261
00:58:44,240 --> 00:58:47,240
Speaker 6: what it costs of scale it is minimum. But services

1262
00:58:47,240 --> 00:58:49,400
Speaker 6: you get in more people, you have more infrastructure, more

1263
00:58:49,480 --> 00:58:52,320
Speaker 6: blah blah blah. So tech is a sixty place to be.

1264
00:58:54,200 --> 00:58:56,800
Speaker 6: So the dude connects me with the company and then

1265
00:58:57,160 --> 00:58:59,720
Speaker 6: they end up investing giving me an anchor contract. And

1266
00:59:00,160 --> 00:59:02,280
Speaker 6: so now we're actually at the closed age of winning.

1267
00:59:02,440 --> 00:59:05,800
Speaker 6: Appears to be winning a statewide contract to provide telehealth services.

1268
00:59:05,880 --> 00:59:08,240
Speaker 6: And we have another company that we're looking to.

1269
00:59:08,240 --> 00:59:10,960
Speaker 4: Do business with a few more and so telling doot.

1270
00:59:11,360 --> 00:59:13,800
Speaker 4: So what's the revenue census? You say you started with

1271
00:59:13,880 --> 00:59:15,920
Speaker 4: like a doubt? How much is it now? I mean,

1272
00:59:16,000 --> 00:59:18,080
Speaker 4: well we still got to say jet dotah.

1273
00:59:18,120 --> 00:59:19,520
Speaker 2: Yeah, Yet that's a competition.

1274
00:59:19,760 --> 00:59:22,080
Speaker 4: Well yeah, yeah, I was acting about that. So jet

1275
00:59:22,200 --> 00:59:25,960
Speaker 4: dot you started with a dollar, how much is it now?

1276
00:59:26,480 --> 00:59:31,960
Speaker 6: So it doesn't matter really because now it's twenty dollars

1277
00:59:32,000 --> 00:59:34,160
Speaker 6: a month, but we're ten dollars a month unlimited. But

1278
00:59:34,200 --> 00:59:37,280
Speaker 6: it doesn't matter. Well, it does matter, but it's not

1279
00:59:37,360 --> 00:59:40,960
Speaker 6: my priority. That's director consumer. So people in Georgia and

1280
00:59:41,000 --> 00:59:43,120
Speaker 6: Florida can still call it jet docs. See a doctor,

1281
00:59:43,160 --> 00:59:45,840
Speaker 6: get it, this got medication boom. It's all easy, pay

1282
00:59:45,880 --> 00:59:49,840
Speaker 6: a twenty bucks a visit. But what I've transitioned into

1283
00:59:49,960 --> 00:59:53,400
Speaker 6: is business to business. So that's when I was sharing

1284
00:59:53,400 --> 00:59:56,720
Speaker 6: with Troy earlier. There's an opportunity where you know, I'm

1285
00:59:56,760 --> 00:59:59,520
Speaker 6: going to address homelessness. It's a major problem, which means

1286
00:59:59,520 --> 01:00:03,000
Speaker 6: the major opper. What we found again through my math

1287
01:00:03,600 --> 01:00:05,760
Speaker 6: uh when I did in DC, is average person spends

1288
01:00:05,760 --> 01:00:09,400
Speaker 6: five x more expensive if they're also homeless. The average

1289
01:00:09,440 --> 01:00:11,400
Speaker 6: expense per year is about twenty grand a year. So

1290
01:00:11,720 --> 01:00:14,439
Speaker 6: somebody's homeless, on average, they cost us twenty thousand dollars

1291
01:00:14,440 --> 01:00:18,320
Speaker 6: a year. That's entire Medicaid manage caare industry. Well, had

1292
01:00:18,320 --> 01:00:19,840
Speaker 6: some folks at the homeless that cost twenty grand a year.

1293
01:00:19,840 --> 01:00:21,720
Speaker 6: Remember you only get PAI five thousand years, each person's

1294
01:00:21,720 --> 01:00:24,160
Speaker 6: losing fifteen grand. But then you have other people who

1295
01:00:24,160 --> 01:00:26,040
Speaker 6: don't see the doctor at always seeing pay five grand

1296
01:00:26,040 --> 01:00:28,760
Speaker 6: a year. So you know, you get you get paying

1297
01:00:28,760 --> 01:00:30,560
Speaker 6: out zero but you're getting five thousand, so kind of

1298
01:00:30,960 --> 01:00:33,320
Speaker 6: to a degree, not always average way out, but you

1299
01:00:33,360 --> 01:00:34,760
Speaker 6: know it gets close to it. And that's where the

1300
01:00:34,800 --> 01:00:36,640
Speaker 6: two percent problem arete comes from and you shake all

1301
01:00:36,680 --> 01:00:39,200
Speaker 6: that out. But HOMELETSS is a big problem. It's the

1302
01:00:39,240 --> 01:00:44,080
Speaker 6: biggest impactor on the healthcare industry. No one really talks about. So,

1303
01:00:44,400 --> 01:00:46,280
Speaker 6: and we've had homeless people that were using the emergence

1304
01:00:46,360 --> 01:00:50,080
Speaker 6: room fifteen twenty thirty times a month, right, knowing what

1305
01:00:50,200 --> 01:00:52,880
Speaker 6: to say to be admitted impatient, I mean the impatient

1306
01:00:52,880 --> 01:00:54,640
Speaker 6: means they spend in the hospital east one night. So

1307
01:00:54,800 --> 01:00:56,640
Speaker 6: somebody wants to get a meal, they wanted to stay

1308
01:00:56,640 --> 01:00:58,920
Speaker 6: in the hospital, or for whatever reason, they want to

1309
01:00:58,920 --> 01:01:01,360
Speaker 6: get some more medications, maybe because they need them, maybe

1310
01:01:01,360 --> 01:01:03,800
Speaker 6: because they want to sell them. Who knows, they know

1311
01:01:03,880 --> 01:01:05,720
Speaker 6: what to say to get it. And then the insurance

1312
01:01:05,760 --> 01:01:07,440
Speaker 6: comes to paying the bill, or it's just cold down,

1313
01:01:07,840 --> 01:01:11,800
Speaker 6: its cold ever whatever, right, but it costs money. Somebody

1314
01:01:11,840 --> 01:01:14,120
Speaker 6: goes in patient. Maybe it cost us fifteen.

1315
01:01:13,840 --> 01:01:17,600
Speaker 2: Thousand dollars, and you can't turn somebody down, no, So it.

1316
01:01:17,600 --> 01:01:21,400
Speaker 6: Costs fifteen thousand. Right, Well, if they stay on average,

1317
01:01:21,400 --> 01:01:23,320
Speaker 6: which is five nights, I'm paying three thousand dollars a

1318
01:01:23,360 --> 01:01:24,480
Speaker 6: night back. They could be staying with me at the

1319
01:01:24,480 --> 01:01:28,680
Speaker 6: Plasta Hotel and Penhouse Sweep. That's what I'm paying. So

1320
01:01:29,920 --> 01:01:32,440
Speaker 6: the opportunity is getting folks that are homeless into housing.

1321
01:01:34,200 --> 01:01:36,560
Speaker 6: And there's a big opportunity. I was giving you a

1322
01:01:36,640 --> 01:01:39,840
Speaker 6: quick mathty in Oakland, California, we're talking to a big company.

1323
01:01:39,960 --> 01:01:42,280
Speaker 6: Let's say they have ten thousand members, twenty thousand dollars

1324
01:01:42,280 --> 01:01:43,720
Speaker 6: a year. They mean to spend two hundred million dollars

1325
01:01:43,720 --> 01:01:45,640
Speaker 6: a year on homeless members on healthcare for their homeless

1326
01:01:45,680 --> 01:01:46,320
Speaker 6: two undre million.

1327
01:01:46,160 --> 01:01:49,000
Speaker 2: Dollars a year. I proved it in DC.

1328
01:01:49,080 --> 01:01:51,280
Speaker 6: I cut my homeless members in half by fifty and half,

1329
01:01:51,360 --> 01:01:54,320
Speaker 6: which is fifty percent, and it costs came down accordingly.

1330
01:01:54,560 --> 01:01:56,400
Speaker 6: So if I took a two hundred million dollar baseline

1331
01:01:56,560 --> 01:01:57,920
Speaker 6: and I cut it in half, that means a hundred

1332
01:01:57,920 --> 01:01:59,160
Speaker 6: million dollars in savings. If I got half of that,

1333
01:01:59,280 --> 01:02:01,480
Speaker 6: I may fit man. And they made fifty. They say

1334
01:02:01,520 --> 01:02:04,560
Speaker 6: fifty for giving me the contract. It's a lot of money.

1335
01:02:04,720 --> 01:02:08,080
Speaker 4: So that's that's the revenue models, not really the consumer.

1336
01:02:08,160 --> 01:02:11,800
Speaker 4: It's more business in government government contracts too.

1337
01:02:11,960 --> 01:02:15,680
Speaker 6: That's government or business business. So another company like the

1338
01:02:15,720 --> 01:02:17,560
Speaker 6: one that I had, I can go contract with him

1339
01:02:17,560 --> 01:02:18,720
Speaker 6: and say, I know how to save money I was doing.

1340
01:02:18,760 --> 01:02:20,600
Speaker 6: I was doing ten percent, twelve percent profit margins.

1341
01:02:20,880 --> 01:02:23,800
Speaker 2: You're doing you're trying to do too? Are you helping?

1342
01:02:24,040 --> 01:02:27,200
Speaker 3: So that that that is a formula for Oakland. We

1343
01:02:27,320 --> 01:02:29,880
Speaker 3: know homelessness is a huge problem in la as well. Yeah,

1344
01:02:30,760 --> 01:02:33,040
Speaker 3: can that also be replicated here? One hundred percent? The

1345
01:02:33,160 --> 01:02:34,680
Speaker 3: thing is I'm friends with the CEO of a big

1346
01:02:34,720 --> 01:02:35,280
Speaker 3: help planing.

1347
01:02:35,120 --> 01:02:37,480
Speaker 2: In Oakland and Oakland relationships, rightships.

1348
01:02:37,920 --> 01:02:43,000
Speaker 6: But once you pilot anything anywhere successful, then did undred percent.

1349
01:02:43,680 --> 01:02:46,920
Speaker 2: So the whole idea of virtual doctor visits.

1350
01:02:47,520 --> 01:02:52,760
Speaker 4: Teleerdoct is a well known company who's a publicly traded company,

1351
01:02:54,280 --> 01:02:56,480
Speaker 4: but people are still a little lary about this.

1352
01:02:57,480 --> 01:02:59,720
Speaker 2: So you have a virtual doctor visit.

1353
01:03:01,120 --> 01:03:03,400
Speaker 4: What Because I've never done this before, can you kind

1354
01:03:03,440 --> 01:03:06,160
Speaker 4: of explain to me what is a virtual doctor visit?

1355
01:03:06,160 --> 01:03:09,280
Speaker 4: Because I'm assuming that it's some limitations involved, like you

1356
01:03:09,320 --> 01:03:11,840
Speaker 4: can only see somebody, you can't like hit that hell

1357
01:03:11,920 --> 01:03:14,920
Speaker 4: bow and check that cough and all that. So, like,

1358
01:03:15,600 --> 01:03:18,680
Speaker 4: how does that work? And do you think that this

1359
01:03:18,880 --> 01:03:22,320
Speaker 4: is something that will be the normal moving forward?

1360
01:03:23,240 --> 01:03:27,480
Speaker 6: I do in the current in the current state of

1361
01:03:27,960 --> 01:03:33,760
Speaker 6: technology and its limitations, most all health visits are you know,

1362
01:03:33,880 --> 01:03:35,840
Speaker 6: you have flu symptoms, or maybe you think you may

1363
01:03:35,880 --> 01:03:37,960
Speaker 6: have COVID symptoms, or you have a headache, you need

1364
01:03:38,040 --> 01:03:41,120
Speaker 6: some strong advil or something that you don't need to

1365
01:03:41,160 --> 01:03:43,960
Speaker 6: see a doctor. You know it, and the doctors knows it.

1366
01:03:44,000 --> 01:03:46,760
Speaker 6: You don't need to see them in person. And so

1367
01:03:47,760 --> 01:03:50,600
Speaker 6: you download the app and you basically are like a

1368
01:03:50,720 --> 01:03:53,560
Speaker 6: zoom called the FaceTime with the doctor and you talk

1369
01:03:53,600 --> 01:03:55,520
Speaker 6: to them about your symptoms and they're going to prescribe

1370
01:03:55,560 --> 01:03:59,360
Speaker 6: your medication. And then in jet doc then the doct

1371
01:03:59,360 --> 01:04:02,400
Speaker 6: will automatically send the script wherever pharmacy feel is most

1372
01:04:02,800 --> 01:04:04,600
Speaker 6: convenient for you. You go pick it up, you get

1373
01:04:04,640 --> 01:04:07,240
Speaker 6: a five cent off constant medication. The discount card is

1374
01:04:07,360 --> 01:04:11,200
Speaker 6: embedded in the app. Where healthcare is going is more

1375
01:04:11,200 --> 01:04:13,680
Speaker 6: sophisticated technology, which we're on the forefront of that with

1376
01:04:13,840 --> 01:04:15,880
Speaker 6: this contract we have. I was just sharing with you

1377
01:04:16,440 --> 01:04:20,160
Speaker 6: where we're including with our app, integrated remote patient monitoring

1378
01:04:21,120 --> 01:04:24,760
Speaker 6: so folks that diabetic negocometers to measure the sugar the

1379
01:04:24,800 --> 01:04:28,680
Speaker 6: blood in their shirt, the sugar in their blood, and

1380
01:04:28,880 --> 01:04:32,160
Speaker 6: so we're integrating like a post eximity to.

1381
01:04:32,160 --> 01:04:35,000
Speaker 2: See what their you know, uh, their heartbeat is.

1382
01:04:35,320 --> 01:04:38,720
Speaker 6: But we're we're integrating these into our app so it's

1383
01:04:38,720 --> 01:04:43,560
Speaker 6: fully integrated. So now you can have you know, devices

1384
01:04:43,600 --> 01:04:50,840
Speaker 6: that have advanced huh, what's the word photography capabilities. They

1385
01:04:50,840 --> 01:04:53,520
Speaker 6: can actually see more clear than your iPhone what's going on.

1386
01:04:53,720 --> 01:04:56,240
Speaker 6: So you can actually use devices or smart scales to

1387
01:04:56,360 --> 01:05:00,240
Speaker 6: get more information. So you're actually replicating an in person

1388
01:05:00,320 --> 01:05:02,880
Speaker 6: visit without being in person. So that technology doing the

1389
01:05:02,880 --> 01:05:04,480
Speaker 6: way and we're in the forefront of it. We're building

1390
01:05:05,200 --> 01:05:09,400
Speaker 6: this integrated application with jet dot to have twenty remote

1391
01:05:09,400 --> 01:05:11,360
Speaker 6: patient monitoring devices fully integrated.

1392
01:05:11,160 --> 01:05:11,760
Speaker 2: To the system.

1393
01:05:12,440 --> 01:05:16,880
Speaker 3: So pre COVID, in the tele health space, there was

1394
01:05:16,880 --> 01:05:20,640
Speaker 3: an average about projected average, about eight hundred thousand visits

1395
01:05:21,040 --> 01:05:24,240
Speaker 3: eight hundred thousand visits a month. Obviously, post COVID that

1396
01:05:24,400 --> 01:05:27,600
Speaker 3: number has run to a billions, So that means it's

1397
01:05:27,600 --> 01:05:30,680
Speaker 3: a lot of people in the space. So what's jet

1398
01:05:30,760 --> 01:05:33,920
Speaker 3: Dot's plan to separate it? Because I know Shoddy mentioned

1399
01:05:33,960 --> 01:05:36,640
Speaker 3: a company as a competition, how do you separate yourselves

1400
01:05:36,640 --> 01:05:37,640
Speaker 3: from the rest of the competition.

1401
01:05:38,720 --> 01:05:41,520
Speaker 6: The reality is I got to figure out what I

1402
01:05:41,640 --> 01:05:47,360
Speaker 6: want to do. So you know, there's so much room.

1403
01:05:47,400 --> 01:05:48,880
Speaker 6: First of all, I answered question, it's a lot of room.

1404
01:05:49,240 --> 01:05:53,400
Speaker 6: There's room galore, and there's room galore direct consumer. There's

1405
01:05:53,400 --> 01:05:55,680
Speaker 6: so many different pockets of opportunities. So whether you focus

1406
01:05:55,720 --> 01:05:57,520
Speaker 6: on mental health, do you focus on this niche? Over here,

1407
01:05:57,960 --> 01:06:03,120
Speaker 6: there's a telecompany that's been very successful doing transgender care

1408
01:06:03,520 --> 01:06:07,200
Speaker 6: actually transgender or transgender.

1409
01:06:08,840 --> 01:06:09,600
Speaker 2: Friendly, what have you.

1410
01:06:10,000 --> 01:06:12,040
Speaker 6: And all the members are transgend because they have their

1411
01:06:12,040 --> 01:06:15,240
Speaker 6: own health care issues, right, and so it's very focused.

1412
01:06:15,240 --> 01:06:17,640
Speaker 6: So what's happening now is the telecompanies are trying to

1413
01:06:17,640 --> 01:06:20,000
Speaker 6: figure out what the niche is. Right, STDs is a

1414
01:06:20,000 --> 01:06:22,120
Speaker 6: big niche, so fire out with the niche is our

1415
01:06:22,160 --> 01:06:25,080
Speaker 6: opportunity for it for nicheng direct consumer. But also when

1416
01:06:25,120 --> 01:06:27,439
Speaker 6: you do direct to business, I mean how a business

1417
01:06:27,440 --> 01:06:29,000
Speaker 6: are is a trade of them, so there's always things

1418
01:06:29,000 --> 01:06:31,120
Speaker 6: you can try to do something new and different, which

1419
01:06:31,160 --> 01:06:33,120
Speaker 6: means the opportunity to grow B to B is pretty

1420
01:06:33,160 --> 01:06:34,840
Speaker 6: massive as well. But when I was saying I got

1421
01:06:34,880 --> 01:06:36,640
Speaker 6: to fiure out what I want to do, is you

1422
01:06:36,720 --> 01:06:38,600
Speaker 6: know how far I want to take it. You know,

1423
01:06:38,840 --> 01:06:41,000
Speaker 6: if you ask me a year ago, tw years, got

1424
01:06:41,120 --> 01:06:43,400
Speaker 6: to tell them to take it all the way, you know, pulkly,

1425
01:06:43,440 --> 01:06:46,120
Speaker 6: trade it own, to control it, make it a legacy business.

1426
01:06:46,760 --> 01:06:48,840
Speaker 2: Am I there right now? You know I don't know.

1427
01:06:48,880 --> 01:06:50,680
Speaker 6: I'm still thinking about that. So do I just want

1428
01:06:50,680 --> 01:06:52,920
Speaker 6: to create it, create value and sell it and have

1429
01:06:53,040 --> 01:07:02,120
Speaker 6: another hit and maybe getting a TV life but tuned,

1430
01:07:02,400 --> 01:07:04,880
Speaker 6: stay tuned. But that's the decision, you know, to how

1431
01:07:04,920 --> 01:07:07,360
Speaker 6: to make it? You know where the passion lies and

1432
01:07:08,320 --> 01:07:09,360
Speaker 6: is it still burning?

1433
01:07:09,680 --> 01:07:12,480
Speaker 2: Let me ask you this before we wrap some general questions.

1434
01:07:12,520 --> 01:07:17,000
Speaker 4: You say, you wrote the book Medicare Medicaid we always

1435
01:07:17,040 --> 01:07:19,440
Speaker 4: had these issues that you know, it's so flawed, And

1436
01:07:19,520 --> 01:07:21,360
Speaker 4: you said, can you give us one of the solutions

1437
01:07:21,400 --> 01:07:24,520
Speaker 4: that you have in the book or something that why

1438
01:07:24,680 --> 01:07:25,560
Speaker 4: is it so flawed?

1439
01:07:25,640 --> 01:07:27,720
Speaker 6: And what are some like at least one thing you

1440
01:07:27,920 --> 01:07:30,000
Speaker 6: under think can be done to fix it? You understand it.

1441
01:07:30,080 --> 01:07:35,840
Speaker 6: It's get rid of mandatory medical loss racial requirements. So

1442
01:07:35,920 --> 01:07:38,959
Speaker 6: I shared with you earlier, out of one hundred dollars

1443
01:07:39,040 --> 01:07:40,880
Speaker 6: we receive in revenue, we were required by a lot

1444
01:07:40,880 --> 01:07:43,640
Speaker 6: of spend eighty five dollars out of one hundred eighty

1445
01:07:43,640 --> 01:07:49,160
Speaker 6: five percent on the direct cost of care hospital, doctor, pharmacy, dental, transportation.

1446
01:07:48,720 --> 01:07:49,120
Speaker 2: Et cetera.

1447
01:07:50,000 --> 01:07:55,640
Speaker 6: Well, if you spend eighty five percent of your dollar

1448
01:07:56,520 --> 01:08:00,200
Speaker 6: every year, medical cost inflation is two percent. It's been

1449
01:08:00,240 --> 01:08:03,000
Speaker 6: two percent forever, which means next year you're going to

1450
01:08:03,080 --> 01:08:05,840
Speaker 6: be spending your total costs. So the governments won paying

1451
01:08:05,840 --> 01:08:08,840
Speaker 6: the total costs. The taxpayers are paying, so eighty five

1452
01:08:09,360 --> 01:08:12,640
Speaker 6: it's like compound interest eighty What was eighty five percent

1453
01:08:12,760 --> 01:08:13,960
Speaker 6: not eighty five point two percent?

1454
01:08:15,160 --> 01:08:15,280
Speaker 2: Right?

1455
01:08:15,480 --> 01:08:17,439
Speaker 6: And then the next year is eighty five point two

1456
01:08:17,479 --> 01:08:20,040
Speaker 6: plus another two percent, so not eighty five point two,

1457
01:08:20,040 --> 01:08:21,720
Speaker 6: it's two percent of eighty five. It's great net, right,

1458
01:08:21,720 --> 01:08:23,200
Speaker 6: it's like one point seven. So then I goes up

1459
01:08:23,240 --> 01:08:26,080
Speaker 6: to eighty seven percent. Every year, the cost healthcare keeps

1460
01:08:26,120 --> 01:08:29,120
Speaker 6: going up because of inflation, and you're requiring folks to

1461
01:08:29,120 --> 01:08:31,040
Speaker 6: spend that money. You did know what I'm saying. So

1462
01:08:31,080 --> 01:08:32,599
Speaker 6: every year the cost of healthcare goes up. That's why

1463
01:08:32,640 --> 01:08:33,040
Speaker 6: it's crazy.

1464
01:08:33,520 --> 01:08:34,519
Speaker 2: What what you want to do is.

1465
01:08:34,479 --> 01:08:36,760
Speaker 6: Get rid of mandatory medical lost racial requirements and then

1466
01:08:36,840 --> 01:08:40,559
Speaker 6: incentivize companies to reduce the total cost care for their membership.

1467
01:08:42,280 --> 01:08:44,280
Speaker 2: And by doing that they would.

1468
01:08:46,000 --> 01:08:47,760
Speaker 6: What should be the case is if they reduce their

1469
01:08:47,800 --> 01:08:50,519
Speaker 6: cost to actually get more contracts with governments to do

1470
01:08:50,640 --> 01:08:53,080
Speaker 6: more business. That's usually how it works, like Walmart. Lower

1471
01:08:53,120 --> 01:08:55,400
Speaker 6: of cost, the more business you get. But the way

1472
01:08:55,479 --> 01:08:57,639
Speaker 6: government has said it is they have these mandatory medical

1473
01:08:57,640 --> 01:09:00,639
Speaker 6: lost racial requirements, which means you have to spend eighty

1474
01:09:00,640 --> 01:09:03,040
Speaker 6: percent of your money and if you spend less than that,

1475
01:09:03,200 --> 01:09:05,800
Speaker 6: it's not legal. Well, the reason they do that, the

1476
01:09:06,080 --> 01:09:08,560
Speaker 6: government has done that is what they have been afraid of,

1477
01:09:08,960 --> 01:09:12,040
Speaker 6: are insurance companies skimping on care for the purposes of

1478
01:09:12,120 --> 01:09:13,200
Speaker 6: retaining it is profit.

1479
01:09:13,840 --> 01:09:15,760
Speaker 2: So let's say Troy needs to go, you know, get

1480
01:09:15,800 --> 01:09:16,439
Speaker 2: some imaging done.

1481
01:09:16,439 --> 01:09:18,600
Speaker 6: He has some heart palpitation or something he wants to

1482
01:09:18,680 --> 01:09:21,519
Speaker 6: get checked out. Their worry that me is an insurance company.

1483
01:09:21,600 --> 01:09:24,800
Speaker 6: Let's say I'm Blue Cross, we should and he's my member.

1484
01:09:25,360 --> 01:09:28,600
Speaker 6: I say no, Troy, you can't go get this this

1485
01:09:28,760 --> 01:09:32,519
Speaker 6: imaging service because it's not a cover benefit, or I

1486
01:09:32,640 --> 01:09:34,040
Speaker 6: just don't want you to do it because you know

1487
01:09:34,040 --> 01:09:35,120
Speaker 6: it's gonna cost me a thousand dollars.

1488
01:09:35,120 --> 01:09:35,599
Speaker 2: You're insured.

1489
01:09:36,240 --> 01:09:38,640
Speaker 6: So to protect against that, to protect the people, they

1490
01:09:38,680 --> 01:09:41,719
Speaker 6: make these mandatory medical lost racial requirements. But the truth

1491
01:09:41,840 --> 01:09:43,960
Speaker 6: is in healthcare, because of somebody goes to emergency room,

1492
01:09:44,000 --> 01:09:46,360
Speaker 6: by law, the hospital has to see the person, and

1493
01:09:46,439 --> 01:09:48,880
Speaker 6: by law, I got to pay the bill. Then the

1494
01:09:49,000 --> 01:09:51,160
Speaker 6: percent of spending that can really be affected by me

1495
01:09:51,280 --> 01:09:53,320
Speaker 6: trying to skip on services, it's like less than ten percent,

1496
01:09:54,200 --> 01:09:57,120
Speaker 6: So it's really like seven percent. So if I can

1497
01:09:57,240 --> 01:10:00,400
Speaker 6: only affect seven percent, why are you forcing this system

1498
01:10:00,520 --> 01:10:02,800
Speaker 6: to overspend on the other ninety three percent?

1499
01:10:03,800 --> 01:10:04,679
Speaker 2: You dig what I'm saying.

1500
01:10:05,320 --> 01:10:08,280
Speaker 6: What should be the case, like anything in capitalism, is

1501
01:10:09,120 --> 01:10:12,120
Speaker 6: if I can get my cost lower, I should be

1502
01:10:12,160 --> 01:10:14,720
Speaker 6: able to get more business. I should be incentivized to

1503
01:10:14,720 --> 01:10:16,439
Speaker 6: get my cost down. And the only way to really

1504
01:10:16,439 --> 01:10:18,519
Speaker 6: get cost down in healthcare is get people healthier. Is

1505
01:10:18,560 --> 01:10:21,400
Speaker 6: but I explained to you on the homeless issue, I

1506
01:10:21,520 --> 01:10:23,040
Speaker 6: cut my costs in half because I got.

1507
01:10:23,280 --> 01:10:24,719
Speaker 2: Half my people housing.

1508
01:10:27,160 --> 01:10:29,559
Speaker 6: So I was sitting down at sixty five percent medical

1509
01:10:29,600 --> 01:10:31,320
Speaker 6: loss ratio, which the government thought was a bad thing.

1510
01:10:31,439 --> 01:10:33,560
Speaker 6: Was while they forced me to get out of the

1511
01:10:33,880 --> 01:10:35,920
Speaker 6: industry where sixty five per cent is a good thing,

1512
01:10:35,920 --> 01:10:38,680
Speaker 6: because guess what happens if I'm in sixty five and

1513
01:10:39,680 --> 01:10:40,240
Speaker 6: the system is.

1514
01:10:40,200 --> 01:10:40,879
Speaker 2: Set to where.

1515
01:10:44,520 --> 01:10:46,599
Speaker 6: I get more business because I'm a lower cost provider

1516
01:10:46,640 --> 01:10:49,599
Speaker 6: than my other competitors. To guess what, the big companies

1517
01:10:49,640 --> 01:10:52,479
Speaker 6: that are in health insurance will now actually compete to

1518
01:10:52,520 --> 01:10:53,400
Speaker 6: get their cost lower.

1519
01:10:53,600 --> 01:10:55,800
Speaker 2: So if I had an impact.

1520
01:10:55,600 --> 01:10:57,400
Speaker 6: Doing things with homelessness and all this other stuff I

1521
01:10:57,439 --> 01:11:01,360
Speaker 6: did reducing you know, man, I had people, matter had

1522
01:11:01,400 --> 01:11:04,160
Speaker 6: thousand of people who I stopped from from being hooked

1523
01:11:04,160 --> 01:11:05,720
Speaker 6: to dallas for the rest of their life. I call

1524
01:11:05,760 --> 01:11:08,680
Speaker 6: it Diallasis bro If somebody has an A one ce

1525
01:11:08,840 --> 01:11:12,360
Speaker 6: which basically measuring the blood that the sugar in someone's blood,

1526
01:11:13,640 --> 01:11:15,920
Speaker 6: if they're if it's five and a half or greater,

1527
01:11:16,640 --> 01:11:18,479
Speaker 6: that means they're diabetics. So it's less than five and

1528
01:11:18,520 --> 01:11:24,760
Speaker 6: a half, they're pre diabetic. No, actually less than seven, yeah,

1529
01:11:24,880 --> 01:11:26,759
Speaker 6: less than seven, you know, less than seven.

1530
01:11:27,320 --> 01:11:28,320
Speaker 2: But I have people.

1531
01:11:28,439 --> 01:11:31,240
Speaker 6: But then you let's say that a one see eight, nine, ten, eleven, twelve,

1532
01:11:31,360 --> 01:11:32,479
Speaker 6: that means any day they could be in.

1533
01:11:32,479 --> 01:11:33,839
Speaker 2: They could require Dallasis.

1534
01:11:34,400 --> 01:11:36,160
Speaker 6: And that's a that's a bad thing because now the

1535
01:11:36,320 --> 01:11:37,800
Speaker 6: thousands every day for the rest of their life until

1536
01:11:37,800 --> 01:11:40,360
Speaker 6: they get a transplant or they die. I had some

1537
01:11:40,560 --> 01:11:42,920
Speaker 6: thousand people, thousand people because I looked at my data

1538
01:11:43,200 --> 01:11:45,639
Speaker 6: who had A one seeds that were over seven who

1539
01:11:45,720 --> 01:11:48,240
Speaker 6: have a one seeds that were growing over a period

1540
01:11:48,280 --> 01:11:50,240
Speaker 6: of time. Right, they at seven point five out they

1541
01:11:50,240 --> 01:11:52,639
Speaker 6: had a nine. Oh, I better focus on these people,

1542
01:11:52,720 --> 01:11:54,479
Speaker 6: get them in the care, get them a gukama that

1543
01:11:54,600 --> 01:11:57,160
Speaker 6: give me real time notification when it spikes. And then

1544
01:11:57,320 --> 01:11:58,559
Speaker 6: my staff, you want to reach out to them.

1545
01:11:59,160 --> 01:12:00,920
Speaker 2: What do you have for lunch? Oh?

1546
01:12:01,000 --> 01:12:03,000
Speaker 6: You think it's healthy to eat eat food all the time.

1547
01:12:03,080 --> 01:12:04,080
Speaker 2: Guess what? Not so much?

1548
01:12:04,960 --> 01:12:06,879
Speaker 6: You know, what are you doing in changing the behaviors?

1549
01:12:07,000 --> 01:12:07,920
Speaker 2: Right? Fruit? Fruit?

1550
01:12:08,000 --> 01:12:08,080
Speaker 4: Right?

1551
01:12:08,200 --> 01:12:09,880
Speaker 2: Yeah? A lot of times food. People think food it

1552
01:12:09,960 --> 01:12:13,559
Speaker 2: breaks down your body and sugar, that's right, no question.

1553
01:12:13,640 --> 01:12:15,400
Speaker 6: So people think they're doing something healthy, but it's killing.

1554
01:12:16,160 --> 01:12:21,080
Speaker 6: But listen, listen, people watch this. Thousands of people, thousand

1555
01:12:21,120 --> 01:12:25,599
Speaker 6: people my aunt included, and many people y'all know included.

1556
01:12:25,960 --> 01:12:30,160
Speaker 6: But my aunt was on h room to authritis since

1557
01:12:30,720 --> 01:12:32,680
Speaker 6: the last thirty four years. Well, to treat room to

1558
01:12:32,760 --> 01:12:36,439
Speaker 6: the aarthritis is medications and most of them attack the

1559
01:12:36,520 --> 01:12:38,679
Speaker 6: kidney right, so over time.

1560
01:12:38,680 --> 01:12:40,439
Speaker 2: It'll interiorate the kidney before you know it.

1561
01:12:40,600 --> 01:12:45,800
Speaker 6: They need dallasis, but not because of lifestyle or eating habits,

1562
01:12:45,920 --> 01:12:48,760
Speaker 6: just because they're on a medication to treat something and

1563
01:12:48,840 --> 01:12:50,600
Speaker 6: instead it burns the kidney up and now she's on

1564
01:12:50,720 --> 01:12:53,880
Speaker 6: dallasis We have thousand people that we identified through medications

1565
01:12:53,880 --> 01:12:54,920
Speaker 6: they're on and how long they're on it.

1566
01:12:56,040 --> 01:12:57,840
Speaker 2: They had a one cs that were rising that we

1567
01:12:58,040 --> 01:12:58,760
Speaker 2: move a one.

1568
01:12:58,760 --> 01:13:01,800
Speaker 6: C from being in the hot bed the hot land

1569
01:13:02,120 --> 01:13:04,879
Speaker 6: of any day, now you could be on dallasis Dallas's

1570
01:13:05,000 --> 01:13:10,000
Speaker 6: role to being pre diabetic. Lifestyle behavior changes thousands of

1571
01:13:10,040 --> 01:13:13,840
Speaker 6: people because I care diet next to did diet most

1572
01:13:13,880 --> 01:13:17,320
Speaker 6: of his diet and medication compliance. A lot of people

1573
01:13:17,320 --> 01:13:20,800
Speaker 6: don't taking medication. Why sometimes make some shit or dialysis

1574
01:13:21,080 --> 01:13:24,280
Speaker 6: or not. Dallasis diarrhea right, Sure, a side effects me

1575
01:13:25,560 --> 01:13:27,479
Speaker 6: so much health care can be fixed. But here's my

1576
01:13:27,560 --> 01:13:29,479
Speaker 6: real point. My point is we identify all these triggers

1577
01:13:29,520 --> 01:13:31,840
Speaker 6: and we did something about it, and through doing something

1578
01:13:31,880 --> 01:13:35,400
Speaker 6: about it, we gave people longer life, healthier life. Folks

1579
01:13:35,439 --> 01:13:40,240
Speaker 6: we avoided folks on dialysis and all those impacts. But

1580
01:13:40,400 --> 01:13:43,280
Speaker 6: not only that, we save a lot of money in

1581
01:13:43,320 --> 01:13:46,000
Speaker 6: the process. Because somebody is on dialysis. Guess what it

1582
01:13:46,040 --> 01:13:48,280
Speaker 6: cost us every year eighty five thousand. When you include

1583
01:13:48,280 --> 01:13:50,000
Speaker 6: dialysis and going to the emergency room with a couple

1584
01:13:50,000 --> 01:13:52,519
Speaker 6: of times, its being impatient eighty five thousand dollars years,

1585
01:13:52,560 --> 01:13:54,639
Speaker 6: but I'm Onlyn paid five thousand, which means I'm losing

1586
01:13:54,680 --> 01:13:56,519
Speaker 6: eighty thousand dollars per person on Dallasis or what did

1587
01:13:56,560 --> 01:13:56,720
Speaker 6: I do.

1588
01:13:56,920 --> 01:13:59,400
Speaker 2: I'm getting on the front moment.

1589
01:14:00,360 --> 01:14:02,600
Speaker 6: But what happens there, I save money and people have

1590
01:14:02,680 --> 01:14:04,400
Speaker 6: better healthier lives.

1591
01:14:05,200 --> 01:14:05,320
Speaker 2: Right.

1592
01:14:06,479 --> 01:14:08,639
Speaker 6: But that's a little old Tommy Dunky because Tommy duncan,

1593
01:14:08,680 --> 01:14:12,479
Speaker 6: which also I care about people, and the profit goes

1594
01:14:12,520 --> 01:14:13,800
Speaker 6: to my own pocketbook.

1595
01:14:15,720 --> 01:14:16,920
Speaker 2: So I'm doing these.

1596
01:14:16,880 --> 01:14:18,799
Speaker 6: Things which are making a big difference that big companies

1597
01:14:18,800 --> 01:14:22,680
Speaker 6: aren't doing them. But if they actually incentivize, if you

1598
01:14:22,680 --> 01:14:24,720
Speaker 6: get your cost lower, which you can only do it

1599
01:14:25,040 --> 01:14:27,120
Speaker 6: doing things I just share with you, then the big

1600
01:14:27,120 --> 01:14:28,880
Speaker 6: companies will actually do what I'm doing, and they would

1601
01:14:28,880 --> 01:14:30,599
Speaker 6: do it way better because they have all the resources

1602
01:14:30,600 --> 01:14:32,160
Speaker 6: in the world, but right now they have no incentivized

1603
01:14:32,200 --> 01:14:33,960
Speaker 6: incentive to do it. Instead then centive it is just

1604
01:14:34,040 --> 01:14:36,799
Speaker 6: keep things status quo, which is why health care outcomes

1605
01:14:36,840 --> 01:14:39,000
Speaker 6: and status quo and the cost of system keeps going

1606
01:14:39,080 --> 01:14:42,960
Speaker 6: up every year, and the governor and the governments don't

1607
01:14:43,000 --> 01:14:43,280
Speaker 6: do sit.

1608
01:14:43,640 --> 01:14:46,080
Speaker 2: How do we change it? Get political action?

1609
01:14:46,200 --> 01:14:48,559
Speaker 6: Political action, man, You just got to get political action, man.

1610
01:14:48,600 --> 01:14:50,720
Speaker 2: You got to get black governor. That's my that's my

1611
01:14:51,840 --> 01:14:55,160
Speaker 2: that's my headline. Get the black governor. That's what you

1612
01:14:55,200 --> 01:14:58,320
Speaker 2: need to do. When's the last black governor in America?

1613
01:15:00,160 --> 01:15:02,840
Speaker 2: In Virginia? New York own the last guy, but.

1614
01:15:02,960 --> 01:15:05,800
Speaker 4: That was that wasn't real. He was the governor. No,

1615
01:15:05,960 --> 01:15:08,679
Speaker 4: no disrespect to Patterson, but he wasn't elected.

1616
01:15:09,040 --> 01:15:11,760
Speaker 6: He wasn't elected, but he served as for and then

1617
01:15:12,479 --> 01:15:14,960
Speaker 6: he got out of it. But yeah, somebody coming in

1618
01:15:15,560 --> 01:15:18,200
Speaker 6: like you got it, you know what they're doing Virginia.

1619
01:15:18,280 --> 01:15:20,680
Speaker 6: That was the last elected black governor. Yeah, this guy

1620
01:15:20,800 --> 01:15:23,080
Speaker 6: named I can't remember his name, but somebody really coming in.

1621
01:15:23,920 --> 01:15:25,280
Speaker 6: You know, it's a plan that what they're doing. They

1622
01:15:25,320 --> 01:15:29,160
Speaker 6: got a squad. You know, they have relationships now, you know.

1623
01:15:29,560 --> 01:15:31,720
Speaker 4: But even but even with the governor, like even if

1624
01:15:31,720 --> 01:15:34,280
Speaker 4: it's a black governor's like I feel like you know

1625
01:15:34,439 --> 01:15:37,840
Speaker 4: better than me obviously, But this billions of dollars that's

1626
01:15:37,880 --> 01:15:41,360
Speaker 4: made in people being sick, Like you might have been

1627
01:15:41,439 --> 01:15:43,960
Speaker 4: losing money, but there's other companies and other people that's

1628
01:15:43,960 --> 01:15:49,920
Speaker 4: actually making money from people being sick. Treatments, hospitals, company

1629
01:15:49,920 --> 01:15:54,680
Speaker 4: and companies. Yes, okay, so the lobby, it might be

1630
01:15:54,880 --> 01:15:57,559
Speaker 4: you know too strong to push it, no matter who's

1631
01:15:57,600 --> 01:16:00,840
Speaker 4: the president or the governor or I.

1632
01:16:00,960 --> 01:16:04,760
Speaker 6: Agree with that, but somebody has to have audacity. And

1633
01:16:05,760 --> 01:16:09,240
Speaker 6: eliminated medical loss ratio actually can be viewed as a

1634
01:16:09,280 --> 01:16:12,960
Speaker 6: positive thing, even for the biotech companies, because then they

1635
01:16:13,000 --> 01:16:16,880
Speaker 6: would start to design things and market to the provider

1636
01:16:16,920 --> 01:16:20,559
Speaker 6: groups and insurance companies. Look and I actually keep people

1637
01:16:20,560 --> 01:16:23,479
Speaker 6: healthier and out the hospital. This medication is better or different.

1638
01:16:23,520 --> 01:16:27,920
Speaker 6: For this reason, the government has taken the stance because

1639
01:16:27,920 --> 01:16:29,600
Speaker 6: of what I shared earlier that if you do not

1640
01:16:29,880 --> 01:16:32,720
Speaker 6: police the insurance companies from skimping on care, there will

1641
01:16:32,720 --> 01:16:34,599
Speaker 6: skimp on care and that will be to the detriment

1642
01:16:34,760 --> 01:16:36,880
Speaker 6: of the public. And what I'm sharing with you is

1643
01:16:36,880 --> 01:16:38,760
Speaker 6: the way the system is designed from the inside. The

1644
01:16:38,880 --> 01:16:40,200
Speaker 6: only skip you could do is no more than some

1645
01:16:40,280 --> 01:16:43,599
Speaker 6: percent of total spending. So you're sacrificing nine three percent

1646
01:16:43,720 --> 01:16:45,720
Speaker 6: because of this seven percent which happens all the time.

1647
01:16:48,120 --> 01:16:50,640
Speaker 4: There you have it, ladies and gentlemen. Princess Detroit had

1648
01:16:50,640 --> 01:16:55,640
Speaker 4: spoken another classic. I appreciate you, brother, So what what

1649
01:16:56,320 --> 01:16:57,560
Speaker 4: do the people need to tap in?

1650
01:16:57,680 --> 01:16:57,800
Speaker 2: Well?

1651
01:16:57,800 --> 01:17:00,320
Speaker 4: Can you say your information all of them making that

1652
01:17:00,439 --> 01:17:02,960
Speaker 4: you have about jet dot, Instagram, website and all of

1653
01:17:03,000 --> 01:17:03,360
Speaker 4: that stuff.

1654
01:17:03,360 --> 01:17:03,880
Speaker 2: I do it all.

1655
01:17:03,920 --> 01:17:05,040
Speaker 6: But before I do, I just want to make the

1656
01:17:05,080 --> 01:17:07,840
Speaker 6: comment any entrepreneurs out there, do your research on your business.

1657
01:17:08,360 --> 01:17:11,760
Speaker 6: You know, research the industry. What are the success rates?

1658
01:17:11,760 --> 01:17:13,720
Speaker 6: Where the failure rates and failure rates are okay? But

1659
01:17:13,880 --> 01:17:18,280
Speaker 6: why do they fail? You know, calculate your risk. Don't

1660
01:17:18,320 --> 01:17:21,960
Speaker 6: just jump out there. Calculate it. You know, particularly if

1661
01:17:21,960 --> 01:17:24,880
Speaker 6: you're an adult, meaning you have you know, responsibilities and

1662
01:17:25,400 --> 01:17:26,960
Speaker 6: you just can't just quit your job. I know so

1663
01:17:27,000 --> 01:17:29,040
Speaker 6: many people quit their job, then they're gonna open the business.

1664
01:17:29,040 --> 01:17:31,280
Speaker 6: Then that business don't work, then they don't have a job,

1665
01:17:31,360 --> 01:17:36,040
Speaker 6: board business. You know, all my businesses I started, I

1666
01:17:36,200 --> 01:17:38,840
Speaker 6: had something already gone, right, I had this going I

1667
01:17:38,920 --> 01:17:40,760
Speaker 6: started mind, so I calculated my risk. Yeah, I could

1668
01:17:40,760 --> 01:17:41,800
Speaker 6: lose it all. I could lose a lot, but I

1669
01:17:41,800 --> 01:17:44,000
Speaker 6: ain't gonna lose it all. At the time I started

1670
01:17:44,000 --> 01:17:45,880
Speaker 6: my decent business, I had a son, I was married

1671
01:17:45,920 --> 01:17:48,640
Speaker 6: with a son, and my wife was pregnant. Right, so

1672
01:17:49,000 --> 01:17:51,680
Speaker 6: I did these things. Again, I calculated my risk. So

1673
01:17:52,280 --> 01:17:56,280
Speaker 6: do your research. Understand your industry, Understand what is the

1674
01:17:56,360 --> 01:17:59,080
Speaker 6: best upside. Are you going into a lifestyle business, meaning

1675
01:17:59,640 --> 01:18:01,800
Speaker 6: you just be profitable and you make a million dollars

1676
01:18:01,800 --> 01:18:04,040
Speaker 6: a year, and you know, if that's the highest subside,

1677
01:18:04,080 --> 01:18:05,880
Speaker 6: that's a great lifestyle. But no, that's what you get into.

1678
01:18:06,240 --> 01:18:08,200
Speaker 6: Or you're trying to do a value creation business.

1679
01:18:08,439 --> 01:18:08,960
Speaker 2: Do what I did.

1680
01:18:09,040 --> 01:18:10,679
Speaker 6: You create something that may take a little more time.

1681
01:18:11,600 --> 01:18:13,600
Speaker 6: Maybe it goes fast because the technology, but guess what

1682
01:18:14,040 --> 01:18:15,960
Speaker 6: now you sell it four hundred million dollars billion dollars

1683
01:18:16,400 --> 01:18:18,120
Speaker 6: and then you actually get a lump sum of money.

1684
01:18:18,560 --> 01:18:19,760
Speaker 6: And I will tell you this, When you get lump

1685
01:18:19,800 --> 01:18:22,400
Speaker 6: some money, it's a beautiful thing. You could make five

1686
01:18:22,400 --> 01:18:24,160
Speaker 6: million dollars a year, that sounds good, right, you can

1687
01:18:24,200 --> 01:18:25,519
Speaker 6: make ten million a year. But then you got half

1688
01:18:25,560 --> 01:18:27,280
Speaker 6: of taxes. And then you got lifestyle. You got a

1689
01:18:27,280 --> 01:18:29,639
Speaker 6: big house, you're living out here, you got a thousand cars.

1690
01:18:30,400 --> 01:18:33,120
Speaker 6: You know, you're spending your money. But you get that

1691
01:18:33,240 --> 01:18:35,679
Speaker 6: lump sum, that big check, and that money be working

1692
01:18:35,720 --> 01:18:39,200
Speaker 6: for you. Got to work that money working you did.

1693
01:18:39,200 --> 01:18:41,320
Speaker 6: You know what I'm saying, Like my money works, I

1694
01:18:41,360 --> 01:18:45,920
Speaker 6: ain't gotta do shiit. My money be working in the

1695
01:18:46,000 --> 01:18:48,920
Speaker 6: stock market and this is just working on its own.

1696
01:18:49,000 --> 01:18:51,600
Speaker 6: And that's where I decided I wanted to be, and

1697
01:18:51,680 --> 01:18:53,720
Speaker 6: that's where I'm at, but really know what you're trying

1698
01:18:53,720 --> 01:18:55,000
Speaker 6: to get into and what you're trying to get out

1699
01:18:55,000 --> 01:18:57,679
Speaker 6: of it. You know, do your research at your homework.

1700
01:18:57,920 --> 01:18:59,680
Speaker 6: When I want a contract in DC is because I did.

1701
01:19:00,000 --> 01:19:02,040
Speaker 6: And addition to all things I talked about, right, you know,

1702
01:19:02,240 --> 01:19:04,880
Speaker 6: I did a political stuff for government contracts to people

1703
01:19:04,960 --> 01:19:07,880
Speaker 6: and all that kind of smooth stuff. But also I

1704
01:19:07,920 --> 01:19:11,639
Speaker 6: put together the best plan for the district. Right, understood

1705
01:19:11,640 --> 01:19:13,759
Speaker 6: where the power was it was in DC. I understood

1706
01:19:13,800 --> 01:19:16,679
Speaker 6: the program for cbe for the minority business of DC.

1707
01:19:17,360 --> 01:19:21,519
Speaker 6: I understood all the healthcare can all the I read

1708
01:19:21,560 --> 01:19:25,200
Speaker 6: every article about healthcare in d C. DC is broken

1709
01:19:25,280 --> 01:19:27,960
Speaker 6: up by war to eight wards like borough is probably

1710
01:19:28,000 --> 01:19:31,559
Speaker 6: New York. I understood the health issues of each borough

1711
01:19:31,560 --> 01:19:33,840
Speaker 6: in New York, and I put together a plan for

1712
01:19:34,960 --> 01:19:37,200
Speaker 6: and so anyway, I just really avi I to do

1713
01:19:37,280 --> 01:19:39,679
Speaker 6: their homework, you know, calculate the risks, do your homework,

1714
01:19:39,760 --> 01:19:40,360
Speaker 6: but take risks.

1715
01:19:40,439 --> 01:19:42,639
Speaker 2: Right. My shirt says what high risk.

1716
01:19:44,720 --> 01:19:48,559
Speaker 6: I'm a high risk, high reward guy, you know. But uh,

1717
01:19:48,760 --> 01:19:50,000
Speaker 6: you know, if you want more, you gotta do more.

1718
01:19:51,320 --> 01:19:53,479
Speaker 6: That being said Tommy two duncan on, I g at

1719
01:19:53,560 --> 01:19:59,680
Speaker 6: Tommy two duncan Uh jet doc my jet doc when

1720
01:19:59,720 --> 01:20:03,800
Speaker 6: I that dot dot com the Prince of Detroit Film,

1721
01:20:03,880 --> 01:20:05,400
Speaker 6: Go check that out, Prince of Detroit Film. That's what

1722
01:20:05,400 --> 01:20:07,559
Speaker 6: I'm doing. I'm having fun with that, and I got

1723
01:20:07,640 --> 01:20:10,280
Speaker 6: other things popping. But what I love to do on

1724
01:20:10,360 --> 01:20:14,120
Speaker 6: anything Rashot and Troy's talk about entrepreneurship to help people

1725
01:20:14,120 --> 01:20:16,000
Speaker 6: be successful. I feel like that's what what's missing in

1726
01:20:16,040 --> 01:20:19,560
Speaker 6: our community is real mentorship on kind of ropes to

1727
01:20:19,600 --> 01:20:21,120
Speaker 6: skip the ropes of note and I feel like y'all

1728
01:20:21,160 --> 01:20:22,560
Speaker 6: are doing it, and so I appreciate you having me

1729
01:20:22,560 --> 01:20:23,639
Speaker 6: on the show to do my little part.

1730
01:20:24,120 --> 01:20:26,360
Speaker 4: Thank you, appreciate you man. I'm glad we was able

1731
01:20:26,400 --> 01:20:28,960
Speaker 4: to connect. Definitely look forward to, you know, establishing a

1732
01:20:29,000 --> 01:20:32,760
Speaker 4: stronger relationship. Tons and tons of information and it's one

1733
01:20:32,800 --> 01:20:35,920
Speaker 4: of these things where we don't know a lot about,

1734
01:20:36,200 --> 01:20:39,120
Speaker 4: you know, the type of informational topics when it comes

1735
01:20:39,160 --> 01:20:42,600
Speaker 4: to healthcare, and just to have somebody you know, that

1736
01:20:42,680 --> 01:20:44,519
Speaker 4: we can relate to. That's kind of been the formul

1737
01:20:44,560 --> 01:20:46,920
Speaker 4: of our success is just bring people on that people

1738
01:20:47,000 --> 01:20:50,560
Speaker 4: can relate to and break down very complex situations and

1739
01:20:50,600 --> 01:20:52,880
Speaker 4: make them understandable. And that's what you did. So thank

1740
01:20:52,920 --> 01:20:54,720
Speaker 4: you for joining us. Can I do one more thing

1741
01:20:54,920 --> 01:20:57,200
Speaker 4: for sure, one more thing all right?

1742
01:21:00,920 --> 01:21:04,800
Speaker 6: Right now, because of social media, every industry is up

1743
01:21:04,800 --> 01:21:07,360
Speaker 6: for disruption. It's the first time in history. So before

1744
01:21:08,240 --> 01:21:12,720
Speaker 6: you know, most black people, folks who come from where

1745
01:21:12,760 --> 01:21:18,360
Speaker 6: we come from, had barriers right resources, know how I

1746
01:21:18,439 --> 01:21:21,320
Speaker 6: talked about that like real mentorship, but even access to resources.

1747
01:21:21,360 --> 01:21:23,160
Speaker 6: How do you get to clients? It costs money to market.

1748
01:21:24,000 --> 01:21:27,720
Speaker 6: Now through social media, I promise you everything is up

1749
01:21:27,760 --> 01:21:31,960
Speaker 6: for disruption. You could start a hot sauce company, mark

1750
01:21:32,040 --> 01:21:33,880
Speaker 6: that hot sauce and before you know it, you'll be

1751
01:21:33,880 --> 01:21:39,160
Speaker 6: bigger than Red Hot. You look around at pillows, anything

1752
01:21:39,200 --> 01:21:41,880
Speaker 6: you can see it's all up for disruption. And it's

1753
01:21:41,880 --> 01:21:43,719
Speaker 6: the first time in history. That's the case where people

1754
01:21:43,760 --> 01:21:47,919
Speaker 6: can go from whatever they're doing to become a billionaire

1755
01:21:48,000 --> 01:21:50,919
Speaker 6: overnight because they can talk directly to consumers.

1756
01:21:51,880 --> 01:21:52,400
Speaker 2: That's like us.

1757
01:21:52,520 --> 01:21:55,719
Speaker 4: We also say the whole industry when it comes to finance,

1758
01:21:55,800 --> 01:21:58,040
Speaker 4: and we have a show called Market Monday. Shott to

1759
01:21:58,040 --> 01:22:03,240
Speaker 4: Ian our partner on that, and it's like massively successful show.

1760
01:22:03,360 --> 01:22:06,000
Speaker 4: Every single Monday we talk about stocks and investing. So

1761
01:22:06,280 --> 01:22:08,679
Speaker 4: shout out to Josh Brown. Josh Brown is on CNBC

1762
01:22:09,880 --> 01:22:11,439
Speaker 4: and he's been on Wall Street for like thirty years.

1763
01:22:11,520 --> 01:22:11,840
Speaker 2: Good guy.

1764
01:22:12,240 --> 01:22:15,240
Speaker 4: So he was talking and he was like, yeah, your legia.

1765
01:22:15,280 --> 01:22:17,880
Speaker 4: I got the show and he was like them, they're

1766
01:22:18,040 --> 01:22:21,960
Speaker 4: influencing financial markets. He's like, there's like seven thousand people

1767
01:22:22,000 --> 01:22:25,120
Speaker 4: watching the show live. Like they're influencing financial markets more

1768
01:22:25,160 --> 01:22:26,200
Speaker 4: than anybody on the street.

1769
01:22:26,680 --> 01:22:30,720
Speaker 2: Geez. He said that, and that was crazy. But it's

1770
01:22:30,920 --> 01:22:32,400
Speaker 2: true crazy, and it's like, you know what I'm saying.

1771
01:22:32,400 --> 01:22:35,519
Speaker 2: It's just said. It's like it's that's game changing, man. Yeah,

1772
01:22:36,160 --> 01:22:39,080
Speaker 2: the disruption at its finest. So I'll leave you with this.

1773
01:22:39,560 --> 01:22:42,080
Speaker 6: Make sure you know you're doing what you're doing, have

1774
01:22:42,479 --> 01:22:44,839
Speaker 6: somebody legal doing your research, keep you all in compliance,

1775
01:22:45,120 --> 01:22:46,960
Speaker 6: because it's more powfer you get they're be coming at you.

1776
01:22:48,320 --> 01:22:50,880
Speaker 2: Yeah, that's what they said that. He just said that.

1777
01:22:51,960 --> 01:22:54,840
Speaker 2: That's what Dave said yesterday. That's a fact.

1778
01:22:55,520 --> 01:22:55,560
Speaker 1: No.

1779
01:22:55,640 --> 01:22:59,080
Speaker 4: I appreciate that, brother, definitely definitely Troy housekeeping items.

1780
01:22:59,280 --> 01:23:01,559
Speaker 3: Oh man, I want to, I want to. Dame also

1781
01:23:01,600 --> 01:23:03,600
Speaker 3: said that we should mention this that there was a

1782
01:23:03,680 --> 01:23:05,680
Speaker 3: wolf of will Street. This is the wolf of healthcare. Yeah,

1783
01:23:06,200 --> 01:23:08,920
Speaker 3: heth wolf of healthcare and I had the word Prince

1784
01:23:09,200 --> 01:23:13,120
Speaker 3: of Detroit. We might have to nominate him for another title,

1785
01:23:15,040 --> 01:23:18,000
Speaker 3: because this is this is pretty legendary. That being said,

1786
01:23:18,000 --> 01:23:19,960
Speaker 3: shout out to Jed Talk And one of the things

1787
01:23:20,000 --> 01:23:22,880
Speaker 3: I know that you guys probed yourself on is affordability

1788
01:23:23,360 --> 01:23:25,880
Speaker 3: and accessibility, and so I want to encourage people just

1789
01:23:25,920 --> 01:23:26,479
Speaker 3: to check it out.

1790
01:23:26,760 --> 01:23:27,400
Speaker 2: Just check it out.

1791
01:23:27,840 --> 01:23:30,439
Speaker 3: But yeah, shout everybody on pictureon dot com. That is

1792
01:23:30,479 --> 01:23:32,840
Speaker 3: our proud to paid program. Shout told earners that on

1793
01:23:32,920 --> 01:23:36,800
Speaker 3: their shout to everybody. E y l University staff has grown, y'all.

1794
01:23:37,040 --> 01:23:40,240
Speaker 3: Shout out to the earners and shout everybody, uh with

1795
01:23:40,360 --> 01:23:43,160
Speaker 3: the merch. I know y'all see us with the exclusive merch.

1796
01:23:43,479 --> 01:23:45,639
Speaker 4: Oh, speaking of Detroit, shout out to my boy Chill.

1797
01:23:45,720 --> 01:23:50,360
Speaker 4: Oh yeah, yeah, yeah, no, no, that's Southwest's son and

1798
01:23:50,680 --> 01:23:51,880
Speaker 4: he gave me this murch He's real.

1799
01:23:51,920 --> 01:23:54,080
Speaker 2: He's a friend of good friend. It's very rare when

1800
01:23:54,120 --> 01:23:57,679
Speaker 2: we wear something that's not show. But my man Chill.

1801
01:23:57,760 --> 01:24:00,360
Speaker 4: They just got in the legal marijuana business and working

1802
01:24:00,400 --> 01:24:02,840
Speaker 4: with Al Harrington. Shout out to Al Harrington Viola and

1803
01:24:02,960 --> 01:24:05,120
Speaker 4: they got a strand and this was a drop of

1804
01:24:05,240 --> 01:24:08,080
Speaker 4: his new strands. So shout out to Chill. Shout out

1805
01:24:08,080 --> 01:24:09,760
Speaker 4: to his dad, Southwest. He got a chance to chop

1806
01:24:09,840 --> 01:24:11,760
Speaker 4: it up with him, good guy. Shout out to all

1807
01:24:11,800 --> 01:24:14,800
Speaker 4: the guys in Detroit, man, real, real, solid, old school

1808
01:24:14,880 --> 01:24:18,040
Speaker 4: type of just get money. Yeah, you know, it's a

1809
01:24:18,080 --> 01:24:18,960
Speaker 4: good vibe out there.

1810
01:24:19,240 --> 01:24:23,439
Speaker 2: That's my city. I like it man. So shout shout

1811
01:24:23,439 --> 01:24:24,800
Speaker 2: out to my boy chill Man. Yeah.

1812
01:24:24,880 --> 01:24:27,160
Speaker 3: But again, shout shout to the merch team. Shout to

1813
01:24:27,200 --> 01:24:30,519
Speaker 3: that boy Mike eye Ballguard for the exclusive drops. We

1814
01:24:30,600 --> 01:24:33,000
Speaker 3: got something that we brewing. Trust me, it's gonna be major.

1815
01:24:33,479 --> 01:24:34,920
Speaker 3: Uh Yeah, love us love.

1816
01:24:35,000 --> 01:24:36,640
Speaker 2: Thank you guys for rocking with us. We'll see you

1817
01:24:36,680 --> 01:24:37,080
Speaker 2: next week.

1818
01:24:37,240 --> 01:24:43,920
Speaker 5: Peace, My graduates from my school being force back drop

1819
01:24:44,560 --> 01:24:48,320
Speaker 5: b drop Mike, drop back drop drop.

1820
01:24:59,240 --> 01:25:03,080
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