Speaker 1: You know, it's a widely accepted uh saying that, like,
Speaker 1: you know, the oldest job in the world. You know,
Speaker 1: the earliest profession is sex work or prostitution. Um. And
Speaker 1: I'm not necessarily sure that that's true or even google
Speaker 1: bull google double if you could google it to be like,
Speaker 1: what's the oldest job? Ever, I don't and we could
Speaker 1: prove that, but I will say, you know, it's clearly
Speaker 1: the most stable market on earth because the demand has
Speaker 1: never waned since the beginning of humans, you know, at
Speaker 1: free humans. I bet you know homemore rectus you feel me?
Speaker 1: Uh you you hear my play on words, octor mug.
Speaker 1: I just think it's the umbrella profession for all other professions,
Speaker 1: especially um inner city professions. And I really think that
Speaker 1: it's the most transferable skill that comes from any inner
Speaker 1: city And it's just hustling. I think the hustle is
Speaker 1: the oldest profession because it's all of the professions. Because
Speaker 1: the hustler is the one that noticed that yo, I
Speaker 1: can yo your genitals, I can sell you stuff. It's
Speaker 1: the hustler, not just saidly the pimp, because the pimp
Speaker 1: is a type of hustler. Years there saying. The point
Speaker 1: is the hustle. It's the oldest profession and it's the
Speaker 1: most long lasting profession. This profession has stood the test
Speaker 1: of time, the test of culture, the test of socio
Speaker 1: economic cast systems, empires, autocrats, uh dictatorships, communists, fascists, democracies, what, however,
Speaker 1: you organize your society. The hustle, saw hustle. You find
Speaker 1: it everywhere and in every part of the world, and
Speaker 1: in every general and in every back to the Stone age,
Speaker 1: there is always being a hustler. The hustler understands what
Speaker 1: the lick read, how to spot the lick, how to
Speaker 1: hit the lick, how to set somebody else up to
Speaker 1: hit their lick. This is the most transferable skill from
Speaker 1: hood to proper society, I think, than any other skill
Speaker 1: that comes out of our inner cities. It's the hustle
Speaker 1: and being able to spot the hustle. Because the hustle
Speaker 1: is very simple. You either spot a need or create
Speaker 1: a need, and then provide that need. Even if the
Speaker 1: need ain't really a need, you provide in anyway. It's
Speaker 1: a hush souls today, Happy New Year. I don't know
Speaker 1: when this is coming out, but I just we just
Speaker 1: got to talk about this FTX collapse, hood politics, y'all. Alright, alright, alright,
Speaker 1: this is called hit the Lick Part one. Now, the
Speaker 1: lick is usually a very specific opportunity to make money,
Speaker 1: you know. That's that's that's the lick, and it's it's
Speaker 1: the task itself, if that makes sense. So you know,
Speaker 1: we talked about a long time ago one of the
Speaker 1: early episodes called what the Lick read, you know, and
Speaker 1: it's the discussion around what is today's current opportunities for
Speaker 1: us too making a little month either robbing somebody breaking
Speaker 1: into the house, or setting up a certain particular situation.
Speaker 1: That's you usually to lick. Now, the hustle is the
Speaker 1: entire industry of what you're doing, and the lick is
Speaker 1: the particular task inside of the entire and it's the hustle.
Speaker 1: It's the whole thing. Now, when you are hustler, the
Speaker 1: industry can vary, right the market that it what we're
Speaker 1: working in don't matter. Just a hustler. You know, there's
Speaker 1: another term for this improper society. We call that a
Speaker 1: serial entrepreneur. Now, see that's what I'm trying to tell you.
Speaker 1: It's a transferable skill where the business you're getting into
Speaker 1: can vary. You're just good at spotting business opportunities as
Speaker 1: as a hustle. As a hustler, you just you know
Speaker 1: where there's money to be made, and that dude carries
Speaker 1: a certain swags the confidence about them, you know what
Speaker 1: I'm saying. I'm saying like you just kind of believe
Speaker 1: them when they talk if you're gonna be good at it,
Speaker 1: feel me. Now, a hustle isn't always illegal. It's not
Speaker 1: always a con now. A lot of times we you know,
Speaker 1: you you you when you hear a hustle, you think
Speaker 1: it's a griff, you know, or or or a con
Speaker 1: or a con artist is a certain type of hustler,
Speaker 1: you know what I'm saying. A drug dealer, that's a
Speaker 1: certain type of hustler, you feel me. And a lot
Speaker 1: of times, you know, unless you really really really love
Speaker 1: the actual drug game itself, the drug you know, cracked
Speaker 1: harrow and that stuff was means to an end. This
Speaker 1: was just a very sellable product. They hustlers. A lot
Speaker 1: of these brothers is like, if you find me a
Speaker 1: better hustle, we'll do that. You know. They were just
Speaker 1: like listen, opportunity casts, trade offs. It's like r O
Speaker 1: I just your return on your investment. It's like the
Speaker 1: return of the returns was so high. That's why I
Speaker 1: gotta the drug dealing, you know what I'm saying. I mean,
Speaker 1: of course there's a lot of like you know, violence involved,
Speaker 1: but like why those skills were so trans horrible? Why
Speaker 1: you see in you know, music industry and stuff like, like
Speaker 1: like why because it was a transferable skill. I know
Speaker 1: some brothers who like got into like streetwear and clothing
Speaker 1: because it's just they enjoyed the hustle. They were good
Speaker 1: at that. It's a transferable skill. The serial entrepreneur. This
Speaker 1: is a hustle. You know, it doesn't have to be
Speaker 1: a criminal activity, and it doesn't have to be crooked.
Speaker 1: Now sometimes it is because you know it is what
Speaker 1: it is, but you tell me it was not crooked. Unfortunately,
Speaker 1: we live in a society where you have to just
Speaker 1: have a bit of cognitive dissonance, like we all have to.
Speaker 1: You just to live right now and have any sort
Speaker 1: of semblance of joy inside of yo your very existence,
Speaker 1: you have to be just slightly inconsistent somewhere, I mean,
Speaker 1: or go get off the grid and live in the mountains.
Speaker 1: But you live in a mountain. That is, you're living
Speaker 1: on stolen land, so you already know what I'm saying.
Speaker 1: There has to be some sort of dissonance somewhere in there.
Speaker 1: And you know I don't care you the justice of
Speaker 1: the justified, of the most justice. It look you compromise
Speaker 1: you somewhere. We you know we I watched this, Uh
Speaker 1: this is the day after the World Cup finals. You
Speaker 1: think I don't understand what's wrong with Qatar, you feel
Speaker 1: you think I don't know what's wrong with that, just
Speaker 1: like the only we did an episode on the Olympics.
Speaker 1: You think I don't know unless you're gonna research and
Speaker 1: hold accountable the entirety of the supply chain of everything
Speaker 1: you've ever purchased. Uh, then you a little inconsistent. I mean,
Speaker 1: that's just it is what it is. That's just part
Speaker 1: of the game. Part of the game. It's just, you know,
Speaker 1: I don't know what else to tell you. You're gonna
Speaker 1: be at some point, whether you know or not, you
Speaker 1: have traffic stolen goods. You then downloaded a movie somewhere.
Speaker 1: You know what I'm saying. It's just the difference between
Speaker 1: you and us who just grew up in these cities
Speaker 1: were just like, look, man, that's just part of the game. Yeah,
Speaker 1: that bootleg DVD I got. I know what you want
Speaker 1: me to say? You didn't, you don't hop the train,
Speaker 1: you don't snuck into a movie. You feel me like
Speaker 1: what you know what you want me to tell you
Speaker 1: are your little proxy servers, you know, your multiple email
Speaker 1: accounts to get the free onlines like we just we
Speaker 1: all hustle. The point I'm trying to say is that
Speaker 1: it's not new. Whether we're talking cowardy shells, prostitution banks,
Speaker 1: or cryptocurrency or n f T s, it's a hustle
Speaker 1: at all. I mean, it's not like there's not some
Speaker 1: genuine stuff going on in there. But it also don't
Speaker 1: mean there's there's nothing without any criminal or shady activity.
Speaker 1: It is what it is. Now. What comes with hustle
Speaker 1: and hustlers and and reading the licks and understanding the
Speaker 1: lick is the necessary skill of knowing a hustle and
Speaker 1: or a hustler when you see one, being able to
Speaker 1: understand what the lick is. And sometimes when you are
Speaker 1: the lick, sometimes you're the hustle. As just saying among um,
Speaker 1: which you probably know by now in the year of
Speaker 1: our Lord, that when you're downloading an app or on
Speaker 1: some sort of social network, if the product is free,
Speaker 1: then you're the product. Does that make sense? Right? You
Speaker 1: are what they're You are what's being sold. That's what
Speaker 1: you know. That's a not what what we say. Like, Okay,
Speaker 1: if Facebook is free right to us to use an
Speaker 1: oscar stuff, that's because they're selling our data that they're
Speaker 1: selling us. We are the product. I don't know, y'all
Speaker 1: saw well, I'm pretty sure you have by now. You know.
Speaker 1: Twitter is like, look, we're not letting you promote no
Speaker 1: mode other social media's on our platforms. I get it.
Speaker 1: It's just this is ridiculous, you know what I'm saying.
Speaker 1: It's because look at they're like, we're a service without
Speaker 1: a product. Like that's what he tried. That's what he
Speaker 1: tried to say. It's like, we'll have nothing about selling anything.
Speaker 1: We can't make it. We can't make any money, So
Speaker 1: why would I let you make money on other places
Speaker 1: using what we have that ain't making no money. It's
Speaker 1: just a hustle. He's just bad at it. Like I know,
Speaker 1: y'all think he amazed it at it. But let me
Speaker 1: tell you something, man. You gotta look at these numbers, man,
Speaker 1: like think it was a four billion dollar company. If
Speaker 1: you owe five billions, like, that's not you. You ain't
Speaker 1: got it. You ain't made no money fair like you
Speaker 1: made me. You may, you may all paper and this
Speaker 1: imaginary thing to say your company net worth for nig
Speaker 1: You can't go to the bank and pull that money out.
Speaker 1: I think we may have talked about this before, but
Speaker 1: wealth is this. You stick your card into that machine
Speaker 1: and it go through. That's wealth. When you swipe your card.
Speaker 1: You ain't gotta sweat. I don't know if you've heard
Speaker 1: stories people talk about all the time, like Yo, we
Speaker 1: didn't know we were poor. Do you know what I'm saying?
Speaker 1: Like there was even a thing going around Twitter? Man?
Speaker 1: Twitter is such a great place. Um asking at what
Speaker 1: age did you realize y'all was poor? You lived in
Speaker 1: the hood, And for me it was like I thought,
Speaker 1: because I had family and friends, I was like, no, no, no,
Speaker 1: they're poor, Like that's what I thought, you know what
Speaker 1: I'm saying. But it wasn't a till I realized there
Speaker 1: was such thing as like thirty one flavors and like
Speaker 1: Dryer's ice cream that there was places specifically for ice cream,
Speaker 1: like that just wasn't thrifty. It wasn't I'm like, wait,
Speaker 1: I cree like this. I didn't know when we moved
Speaker 1: out of Lent like this part of the I talked
Speaker 1: about all the time we moved out, and then I
Speaker 1: went back and realized there was bullet holes in our
Speaker 1: garage door, like I never noticed because the way we
Speaker 1: was brought up was like, look, man, you know, if
Speaker 1: you needed Joe carburetor change, you asked Poco down the street.
Speaker 1: You know what I'm saying, Like, you know, if you
Speaker 1: need babysitting your neighbor doing like we just you make
Speaker 1: spaghetti because spaghetti last for weeks, like so we ate.
Speaker 1: You know what I'm saying, Sandwich isn't sugar water, Like
Speaker 1: you don't realize until later, because again, my parents spent
Speaker 1: money very wisely. You know what I'm saying that things
Speaker 1: we didn't have. I you know, I knew I like
Speaker 1: I knew I ain't had like the designer shoes and
Speaker 1: all that good stuff. I knew people, but it was
Speaker 1: just simple. It's like we can't forward that so we
Speaker 1: don't get it, like you just I thought that that
Speaker 1: was just being wise. I didn't know it was because
Speaker 1: we were just kind of low working class. You feel
Speaker 1: me like I ain't. No wealth is when you go
Speaker 1: to pay for your groceries the card go through. So listen,
Speaker 1: if you work in minimum wage fan unfortunately you know,
Speaker 1: minimum wages way below where it's supposed to be. But
Speaker 1: when you went to that in and out, went to
Speaker 1: that five guys and you stuck your card into that
Speaker 1: machine without any fear that is not gonna go through,
Speaker 1: or that some of your other bills are not going
Speaker 1: to get covered because of this, that's that's wealth. When
Speaker 1: you look at like and I mean it's this is
Speaker 1: absurd to say this, but when you look at like
Speaker 1: a billion dollars and two billion dollars, like what I mean,
Speaker 1: what's the difference in their lifestyle? Was what? You know?
Speaker 1: It's a there's no difference in their lifestyle. They stick
Speaker 1: their card in and it works. So look, if you
Speaker 1: got a million dollars but you got a two million
Speaker 1: dollar lifestyle, you're broke. You understand. That's what I'm trying
Speaker 1: to say. One, live within your means and too, don't
Speaker 1: let these people fool you. Their money made up because
Speaker 1: guess what. They can't stick their card into that machine
Speaker 1: and buy that five billion dollar home. They're borrowing that
Speaker 1: money because the piece of paper said that they're worth
Speaker 1: twenty billion. But y'all saw when the stock market did
Speaker 1: that little thing, and apparently Mark Zuckerberg lost some something
Speaker 1: something something billions of dollars in a day, in an
Speaker 1: hour because the stock market dropped. Did his life changeing?
Speaker 1: Is it's not real money because he can't go to
Speaker 1: the bank and pull out a billion dollars. It's just
Speaker 1: on the paper. Well maybe he can, but I just
Speaker 1: I look from what I understand how that ship works.
Speaker 1: That's not how it works. It's just a hustle. And
Speaker 1: you have to know how to recognize a hustle when
Speaker 1: you see one. Now, when you recognize this hustle, here
Speaker 1: are your options and this now I'm giving y'all game here.
Speaker 1: You need to decide is this worth it for you?
Speaker 1: Because you know what they're doing. Once your brain clicks
Speaker 1: in and you understand, oh, I'm just talking to a
Speaker 1: hust Now I need to know, okay, what's in it
Speaker 1: for me? Well? This like and you have to know now,
Speaker 1: which is a real art and I think comes from
Speaker 1: for me years of experience is now I know how
Speaker 1: to talk to you. Some hustlers are ego driven. You
Speaker 1: just need to butter and foods up. So in this sense,
Speaker 1: it's a rope a dope. You know what I'm saying,
Speaker 1: it's a judo. I need all not you know, you
Speaker 1: got yours, yoa you run these streets, man, you run
Speaker 1: this here, yo, tell me what you're doing. That's amazing, homeboy. Man.
Speaker 1: So so then so then and and if I'm doing that,
Speaker 1: either I'm getting this dude off my back, so I
Speaker 1: make sure that like either I don't get caught up
Speaker 1: in this hustle you understand what I'm saying, or I
Speaker 1: figure out how to make this work for my advantage.
Speaker 1: Some people, you just gotta keep a million million miles
Speaker 1: away from you, you know, because if you get sucked in,
Speaker 1: you're gonna lose all the money. Because because that brother
Speaker 1: ain't got no money for he using yours to pay
Speaker 1: for his Oh here we go, he using investment, you know,
Speaker 1: said to get this lick off. That's what you trying
Speaker 1: to do. But you gotta recognize it. Some people they
Speaker 1: get a high off off the game itself, and for them,
Speaker 1: you gotta figure out how to understand their cards. For them,
Speaker 1: it's not judo, it's poker. I need to be able
Speaker 1: to understand what's going on in their cards. And you know,
Speaker 1: for me, like I'm not really a good poker player,
Speaker 1: I really understanding game. I ain't gonna lie to you, like,
Speaker 1: but I could slap some dominoes. I could play some
Speaker 1: Bones and let me tell you something. Apparently a Bones
Speaker 1: is an old head game, which I didn't know, so
Speaker 1: I guess officially I'm in that round now. Or that's
Speaker 1: like a West Coast thing I found out, like West
Speaker 1: Coast in sort of Texas, and you know that, like
Speaker 1: apparently everybody else don't play dominoes like that. But I
Speaker 1: tell you what, if we're playing a one on one
Speaker 1: or teams or all four around the table, depending on
Speaker 1: what you play, I know what's in your hand. I
Speaker 1: just because I've played the game enough, I know how
Speaker 1: to switch from offense to defense. I know how to
Speaker 1: like because if you know, if you know how you're
Speaker 1: playing that, you know a lot of times, like it's
Speaker 1: like chess or any other game, like when you're playing
Speaker 1: with somebody, I really don't know how to play that
Speaker 1: it's hard to predict because they play all willy nilly,
Speaker 1: you know what I'm saying. But when you're playing with
Speaker 1: somebody that knows how to play right, then you could
Speaker 1: start adding a lot of these strategies and start reading
Speaker 1: what's going on. My homeboys. My homeboy Derek Miner on
Speaker 1: my other homeboy camera stranging over the relevant magazine, shout
Speaker 1: out my homeboy Cameron. I taught him how to play dominoes.
Speaker 1: And there are times that we'll be sitting around the
Speaker 1: table and I'll be like, play the six four and
Speaker 1: they look at me all mad, like how do you know?
Speaker 1: Because I'm like, I've played enough. It's not magic. There's
Speaker 1: only so many of each suit each domino, right, And
Speaker 1: I know if you would have had this other domino,
Speaker 1: you would have played it a long time ago because
Speaker 1: it would have made you a lot of money. You
Speaker 1: would have scored, you know, points that you played that
Speaker 1: one right. And I know that when I played this
Speaker 1: right and you hesitated that you didn't have that piece.
Speaker 1: So that means if I'm counting my dominoes, I'm going
Speaker 1: on tagit. But this is what I'm trying to say.
Speaker 1: It's like, you got to recognize I'm kinning my dominoes.
Speaker 1: I'm like, it ain't. But there's only one more six
Speaker 1: out there. And I'm looking at the board and I'm like, Okay,
Speaker 1: you can't play there. You can't play there, can't play there.
Speaker 1: You would have played that if you had it. That
Speaker 1: means Derek got the six four, played the six four.
Speaker 1: He's just like Derek be like ship man and then
Speaker 1: he played a six four and I'll be like, perfect domino.
Speaker 1: You know what I'm saying. So, but it's because I'm
Speaker 1: just watching the board. So when you're talking to somebody
Speaker 1: that's in the hustle that's like just gets to high
Speaker 1: off the game itself. You have to be able to
Speaker 1: read what he's what that person telling you and what
Speaker 1: they're not telling you to figure out what they actually
Speaker 1: saying to you. I've had to use this skill in
Speaker 1: many professional environments around the music industry, around um even
Speaker 1: some of like just corporate situations. You need to just
Speaker 1: gear out what this person is saying and the only
Speaker 1: and I ain't go to no business school, you know
Speaker 1: what I'm saying. And look look and in my life,
Speaker 1: my my young life. Yeah, I mean it could have
Speaker 1: been where it wasn't that hard, you feel me, Like
Speaker 1: I wouldn't. Look I wasn't in section. Hey, I wasn't
Speaker 1: in the projects, you feel me. I was. I mean,
Speaker 1: who's whose low income? But like I was Swing generation,
Speaker 1: like my parents split, my mama got the House of
Speaker 1: the Birds. You feel me? So like I, I was
Speaker 1: able to experience things in so many differentses. So it's
Speaker 1: like this proof of concept of taking what I learned
Speaker 1: in the in the in South Central in the six
Speaker 1: to six and even applying that in the high school
Speaker 1: I went to way out in in the suburbs. I
Speaker 1: just was like, I just know a hustle when I
Speaker 1: see what, and especially a hustle from somebody who came
Speaker 1: from the samehood I came from. That parents had the
Speaker 1: same idea as me. You does mind? You know what
Speaker 1: I'm saying to make me go to this night school.
Speaker 1: I'm looking at this food like, uh huh, I know
Speaker 1: what you're doing at all? Boy, You feel me. It's
Speaker 1: just you have to be able to recognize the hustle.
Speaker 1: And it's the same, guys, it is absolutely the same.
Speaker 1: Don't let these crypto bros fool you with all these
Speaker 1: big terms and the eats, you know, and the doose
Speaker 1: coins and you know, the stock markets and the bitcoins
Speaker 1: and the cryptos and the meta. Don't let these fools.
Speaker 1: Don't let these fools fool you. It's the same because
Speaker 1: the hustle is a hustle. Let's talk about f t
Speaker 1: X next. Yes, alright, alright, alright, alright, alright, alright we're back.
Speaker 1: So by now it's old news. But you know how
Speaker 1: I like to work, I like to like make sure
Speaker 1: I understand exactly what's going on here. So at this point, uh,
Speaker 1: your boys were at least the day that I'm recording this,
Speaker 1: your boy has agreed to go to trial about how
Speaker 1: just poorly he ran f t X, right, which is
Speaker 1: a cryptocurrency giant essentially for the for the for the
Speaker 1: sake of our understanding, it's a bank where he was
Speaker 1: doing things that essentially he's he's he's accused of defrauding
Speaker 1: investors and customers to like the tune of like billions
Speaker 1: of dollars, And he was arrested in the Bahamas, right,
Speaker 1: and he was forced to face trial. But what was
Speaker 1: funny was like, um see this is the thing about
Speaker 1: the Swireirl hustlers, But really it's the mediocre white boy
Speaker 1: thing in a lot of ways to where it's like
Speaker 1: you still feel like you could get on the talk
Speaker 1: show and say your side, like if people just understood,
Speaker 1: like no, I just I was just in over my
Speaker 1: head bro. Like look now I'm getting on the tangent here.
Speaker 1: But like listen, man, that's that like, that's that rich,
Speaker 1: that rich boy energy where you feel like you could
Speaker 1: just talk your way out of anything. You take a
Speaker 1: rich boy, rich white boy though less you feel me
Speaker 1: and you put a little hustle on it. Oh, this
Speaker 1: nigga has never been in trouble ever. You know anybody
Speaker 1: like that. They they can talk their way out of everything.
Speaker 1: They's never been just no nothing, never stick. You feel me,
Speaker 1: don't be their best friend, because man, he gonna have you.
Speaker 1: He don't have you on your little bikes riding up
Speaker 1: the old man Hickory's house right going in there. It's
Speaker 1: stealing that man Vincent vand gold painting. And he'll be like,
Speaker 1: they'll talk good bro, just bro, just tell him you've
Speaker 1: got lost, no big deal. Bro. It's like, what do
Speaker 1: you mean, It's no big deal? Nigga were going to jail,
Speaker 1: but I can guarantee you man, this bad Listen. I'm
Speaker 1: trying to give you background, but you remember this man
Speaker 1: is the child of two uh professors at Stanford Like
Speaker 1: he all right, you feel anyway? Uh? So he was
Speaker 1: out in the Bahamas. He had these two partitions. So
Speaker 1: he had the bank, his crypto bank, and then he
Speaker 1: had this like personal sort of like investment firm to
Speaker 1: where it's like, if you want to, like, you know,
Speaker 1: make your money sweat a little bit, you could work
Speaker 1: on this side. But we'll go we'll get it to
Speaker 1: the specifics of it later. But there's a few things
Speaker 1: that I think you need to understand that if you
Speaker 1: like me. It was like when you heard bitcoin and
Speaker 1: how bitcoin work, he was like, huh whatever, it sounds
Speaker 1: like the same ship because it kind of is just
Speaker 1: depart the so because the hustles a hustle, right anyway,
Speaker 1: the magic of bitcoin or cryptocurrency if you will, Um, Now,
Speaker 1: this isn't a crypto bro uh pod. And I'm probably
Speaker 1: gonna get a lot of this wrong or at least incomplete,
Speaker 1: because it's not necessarily my field of expertise. But I
Speaker 1: can help you understand it like this. Remember I say
Speaker 1: this all the time, money is not real. It is
Speaker 1: worth what we say it's worth, right, And the value
Speaker 1: of those dollars changes per country, right, because each country
Speaker 1: gets to say, in relation to what their currency can purchase,
Speaker 1: how much that currency is worth. And then we have
Speaker 1: this whole exchange rate. You know, if ever you travel,
Speaker 1: you know what I'm saying, Well, one dollar equals this
Speaker 1: many pasos you know, or pests. You know what I'm saying.
Speaker 1: Wherever you are, right, And if your brain worked like mine,
Speaker 1: you was like, this seems arbitrary. Sometimes it just seems
Speaker 1: like y'all just moving decimals. Because listen, whether a cup
Speaker 1: of coffee and a croissant costs five dollars in America,
Speaker 1: but you tell me it costs fifty five, you know,
Speaker 1: pestos in Mexico. I'm like, it's well, it's the same
Speaker 1: because it just still just brought me the same, right,
Speaker 1: because of just it's what difference? What do you mean
Speaker 1: your dollars worth? Right? So I'm like, what because the
Speaker 1: numbers made up? Like you're just moving decimals. It took
Speaker 1: me these many hours to make this amount of money.
Speaker 1: So whether you call that money you know, calary shells
Speaker 1: or one bitcoin, Like, it's just it took me this
Speaker 1: much time to get that, right, So it's just it
Speaker 1: kind of it's like, what is any of this stuff mean? Well?
Speaker 1: It Well, the truth is you're right, Like, it doesn't
Speaker 1: mean anything. It's what I just need to know how
Speaker 1: much milk is and how many hours I gotta work
Speaker 1: to be able to have enough of whatever this currency
Speaker 1: is to get that milk. That's what it means, right,
Speaker 1: And who gets to decide that? Well, currently we have
Speaker 1: federal banks, world banks, international things that are backed by governments, right,
Speaker 1: so it's people that get to say based on whatever
Speaker 1: the hell is based on in relation to like how
Speaker 1: much how many dollars are in circulation, that's what like inflation.
Speaker 1: We did stuff on inflation and all this stuff. Remember
Speaker 1: we did the thing on inflation and all this stuff,
Speaker 1: like how many dollars are in in circulation across the world?
Speaker 1: What can it purchase? Me? Do? Can my government back it? Right? Uh?
Speaker 1: You know, when we moved away from the goal standard,
Speaker 1: which meant like there was which again is also something
Speaker 1: made up to we said that this rock right that
Speaker 1: comes out the earth is worth these many dollars, you know,
Speaker 1: So it was weights you feel me. It was like
Speaker 1: this rock is worth this, so we knew like this
Speaker 1: dollar is backed by that rock, right. I don't know
Speaker 1: why we thought that that was somehow more secure than
Speaker 1: it just being backed by paper, because who say the
Speaker 1: rock is worth what? This work? You feel me? The
Speaker 1: point I don't want to get lost in the weeks here.
Speaker 1: The point is the regulation of how much dollars are
Speaker 1: worth or not worth's contingent on governments and humans. The
Speaker 1: promise of bitcoin was that it removes the human factor.
Speaker 1: It's just math. It's that the amount of bitcoin that's
Speaker 1: in circulation and how much it's worth is based on algebra,
Speaker 1: meaning there's only it's an equation. There's only so many.
Speaker 1: So what governs it is not a government or a bank.
Speaker 1: It's math. This was the promise of it. So if
Speaker 1: you remove governments from it and it's just simply math. Right,
Speaker 1: when you get the amazing computers and you quote unquote
Speaker 1: air quotes farm bitcoin, Remember there's only so many there,
Speaker 1: so if there's a finite number, we always know what
Speaker 1: it's worth. Right. That's the promise of it, which means
Speaker 1: that and the only way to access to it is
Speaker 1: all you need is a cell phone internet connection. So
Speaker 1: the promise was supposed to be, Yo, this removes corruption,
Speaker 1: It removes the slings and arrows and the ebbs and
Speaker 1: throat flows of war, of government, of stock market because
Speaker 1: it's digital, like it's just it's math. That was the
Speaker 1: promise of it. The promise of it was that it
Speaker 1: was completely anonymous because it's digital like you're it's not
Speaker 1: you know, your your wallet is not like a a
Speaker 1: paper thing in your pocket. You know, it's not a
Speaker 1: bank account that could get hacked per se. Right, that
Speaker 1: was the idea around the promise of bitcoin. But as
Speaker 1: we know, save ships different day, y'all. So let me
Speaker 1: go back to what they were trying to save us
Speaker 1: from from from a bank, right, remember that dissonance I
Speaker 1: was talking about earlier. Yeah, okay, so a bank's of hustle, guys,
Speaker 1: this because okay, uh, it's not the movies. There's not
Speaker 1: billions of dollars in a vault in a bank. It's
Speaker 1: not like when I put my twenty dollars into a bank.
Speaker 1: It's taking that twenty dollars and putting it in a
Speaker 1: box that says prop and putting the rest of the
Speaker 1: tars on there. No, it goes into this pot of
Speaker 1: a ton of money. That's why when you see things
Speaker 1: that on the side of that says, remember f D
Speaker 1: I c ensured up to a certain amount of money,
Speaker 1: which basically means if this bank runs out of money,
Speaker 1: which happens, the government will cover up to a hundred
Speaker 1: thousand dollars. Now have you've have you've seen the news
Speaker 1: at some point it's happened in Greece, and it happened
Speaker 1: here in two thousand and eight when when no money
Speaker 1: in the bank and all of us, if you had
Speaker 1: any brand, you was like, how the hell is that possible?
Speaker 1: If we're putting money in where the hell did it go?
Speaker 1: If you're charging me eighteen dollars every time I overdraft, nigga,
Speaker 1: you got money because it's listened. Because it don't work
Speaker 1: like that, Well, how the hell do it work. It's
Speaker 1: a hustle. They're wheeling and dealing you working investments because
Speaker 1: because listen, that's how investments work. Listen, will you put
Speaker 1: your money in there? And it says that this this
Speaker 1: account yields a certain percent of interest. What that means
Speaker 1: is this, if you just put your money in the
Speaker 1: mattress it's just sitting there. My own boy says, you
Speaker 1: want your money to be sweating. You want every dollar
Speaker 1: to be in there working out. So what what was
Speaker 1: the bank doing? The bank is taking your money and
Speaker 1: it's putting it in investment opportunities. It's saying, okay, man,
Speaker 1: so look well, if I put this in here, if
Speaker 1: I put it on there, if I bet on this,
Speaker 1: if I throw throw some dollars on this, you feel me,
Speaker 1: then I can guarantee and air quotes guarantee that I'm
Speaker 1: gonna make you know a little bit of money off
Speaker 1: this and off this and off that. And then yo,
Speaker 1: since you've given me this is the bank. You y'all
Speaker 1: supplying the money for me to be able to go
Speaker 1: invest in there. So I'm making dough. So therefore you
Speaker 1: making dough today talking you know three four interest rates?
Speaker 1: You know what I'm saying, interests uh accruing on on
Speaker 1: these bank accounts. But rest asshore they making thirt you know,
Speaker 1: return on these investments. Off your money to hustle like.
Speaker 1: But if that don't work a k a. The housing
Speaker 1: bubble crashes because you just borrow You just dealing out
Speaker 1: money for people that you know you can't afford it
Speaker 1: when all that stuff crashes, ain't no money to back
Speaker 1: these bets. The money that these banks is using to
Speaker 1: back these bets is your money. And if they run out,
Speaker 1: when you stick your card, like I said, you stick
Speaker 1: your card into that bank account and don't nothing come out?
Speaker 1: You like, how to hell? Is the money I gave
Speaker 1: you not there? Well, lucky for us, a lot of
Speaker 1: people thought this was wrong. But lucky for us, there's
Speaker 1: a government who gets to say, Okay, we can't listen.
Speaker 1: If something go wrong, somebody gotta come in here. It sucks.
Speaker 1: I can't believe y'all did this. Now that's a great argument.
Speaker 1: It's like, doc, so you just get to be the
Speaker 1: banks get to be the spoiled white boy that like
Speaker 1: if they if any if anything go wrong, their daddy
Speaker 1: come in there and come save them. Is that is that?
Speaker 1: That's what a lot of people are saying, like, nah,
Speaker 1: fuck them? Why did you get to get bailed out?
Speaker 1: And the government is like, well they shouldn't, but it's
Speaker 1: us that but that's our like, that's our money. You
Speaker 1: heard the phrase too big to fail? Like what they're
Speaker 1: trying to say is like, yo, if this bank failed,
Speaker 1: the whole thing. America fails bank, it's great, one of
Speaker 1: the greatest hustle. Is one of the greatest licks in
Speaker 1: American history. Yea, because you gotta save us, because if
Speaker 1: I lose, we all lose. So good for us in
Speaker 1: the sense that there was somebody there too, like we said,
Speaker 1: bail them out. Government bailouts. Now again, you can have
Speaker 1: your problems with that. But had that not happened, I
Speaker 1: don't know if we would have the lifestyle we have now.
Speaker 1: Crypto banks is different. They ain't no government. So what
Speaker 1: FTX happened was people went over there realizing that like, yo,
Speaker 1: bitcoin is fluctuating just like the rest of the stocks.
Speaker 1: Oh this ship is the same. They're saying, Yo, the
Speaker 1: value of bitcoin, dick bug is plummeton because let me
Speaker 1: take my money out before before everything go wrong. So
Speaker 1: foods rushed the bank and guess what what no money there.
Speaker 1: So folks was like, nigga, where where my digital money?
Speaker 1: I you you were supposed to be. You're the biggest
Speaker 1: you were supposed to be. That's not how crypto were
Speaker 1: How you not have my money? This crypto said back.
Speaker 1: But then it was like I ain't got it. Yea,
Speaker 1: I was im on it. Though it's not funny, but
Speaker 1: it's funny. The difference is though ain't no government to
Speaker 1: bail out, no crypto nigga. That money gone and it's gone.
Speaker 1: So let me let me give you some specifics about
Speaker 1: the case if you don't know already. So John Ray
Speaker 1: is the new CEO. He took over after Sam banquet
Speaker 1: Fried resigned, who apparently, just like I told you before,
Speaker 1: he just can't shut up. He just keep talking right,
Speaker 1: kept doing interview anyway. John Ray, when he was in
Speaker 1: his hearing in front of the Senate, they asked him like, hey,
Speaker 1: what roll you think Bank run Free should play after this?
Speaker 1: He was like, nigging nothing. That man needs to do.
Speaker 1: That man's needs to be far away as he can
Speaker 1: from this thing. Now, why is this so funny to me?
Speaker 1: Because John Ray is the person that took over in
Speaker 1: Ron FAM when Ron was collapsed collapsing, they brought in
Speaker 1: John Ray that that they needed the big dog cuts.
Speaker 1: He said, Ray looking around this bug like this is
Speaker 1: a ship show and bankmen talking about Look, man, I
Speaker 1: was just too excited, like I was naive. He hit
Speaker 1: him with it. What had happened? Was I was just
Speaker 1: too excited about like the possibilities, you know, in hindsight, like,
Speaker 1: I'm sorry, I should have thought about what could have
Speaker 1: went wrong, but instead I was excited about what could be.
Speaker 1: I'm just a positive guy, you know what I'm saying.
Speaker 1: But this man facing the charges because wire fraud, uh
Speaker 1: you know, attempted wire fraud on customers, attempted fraud on investors,
Speaker 1: commodities frauds, all kinds of other frauds. Just hey, you busted.
Speaker 1: Cause at this dude Ray talking about. Look they was
Speaker 1: they was tracking invoices with slack oh like slack nick
Speaker 1: a billion dollar comfort dog. They said they was doing
Speaker 1: their books. They was they was running their accounting on
Speaker 1: quick books, my Nigga quick books online. That's thirty five
Speaker 1: dollars a month. You was running this whole company on
Speaker 1: some quick books, Because like, what what the hell is
Speaker 1: y'all doing? Listen, I know a hustle. Let me tell
Speaker 1: you something. I know a hustler. What I see what
Speaker 1: I know somebody that don't know what the hell they're
Speaker 1: talking about. You understand what I'm saying. This man ain't
Speaker 1: know what the hell he was talking about. But listen
Speaker 1: the point of this whole pot is to tell you
Speaker 1: that this ship is not new. Let me tell you
Speaker 1: what he did. It's real simple. I'm taking your money
Speaker 1: and I'm spending it on my ship. It's I mean,
Speaker 1: it is not new because now the particulars of it
Speaker 1: may be sophisticated because you're using cryptocurrency right as as
Speaker 1: a bank thing. But then you have this other side
Speaker 1: of the thing that's supposed to be an investment thing.
Speaker 1: So when you got money in here, you can say, yo,
Speaker 1: I'm down there, like help you invest in some other stuff.
Speaker 1: But that investment firm side of his company was his wallet.
Speaker 1: He was just living off that. And it's real simple.
Speaker 1: When people come ask for their money, he was using
Speaker 1: somebody else's money to give them that. So you gotta
Speaker 1: it's real simple. It's you owe your mama five dollars,
Speaker 1: so you go borrow ten dollars from your auntie. You
Speaker 1: pay your mama five dollars. You got five now in
Speaker 1: your pocket. But then your auntie come back and say, hey,
Speaker 1: I need my ten dollars back, So you go ask
Speaker 1: your cousin for fifteen dollars and then you pay your
Speaker 1: cousin back this so now you owe fifteen, you pay
Speaker 1: them you got so, and then eventually somebody gonna be like, yo,
Speaker 1: I'm done lending you money. Like if everybody come in
Speaker 1: and say, hey, where my money, They're gonna realize, oh, nigga,
Speaker 1: you ain't got none because you've been pocketing this extra
Speaker 1: five Because I noticed, man, you gotta really you've been
Speaker 1: bringing home the good snacks these days. But your boy
Speaker 1: over there living real good off somebody else's money. So
Speaker 1: that if you get and listen, if you could keep
Speaker 1: the balls in the air, if you could keep the
Speaker 1: hustle going, everything cool unless everybody you hustling comes to
Speaker 1: ask for the money at the same time. Because now
Speaker 1: I can't borrow from customer A. I can't hustle customer
Speaker 1: A to giving me investment money so I could pay
Speaker 1: out the yields to customer BE because Customer A and
Speaker 1: B is like, yo, I'm ready to pull my money.
Speaker 1: But at the heart of the problem was f t X.
Speaker 1: And then this hedge fund. It's a crypto hedge fund
Speaker 1: called Alameda Research. Now, if you like me, you might say, prop,
Speaker 1: what the hell is a hedge fund? I'll be hearing
Speaker 1: about it on TV and in movies all the time.
Speaker 1: But what is a hedge fund. It's a hustle. Just
Speaker 1: just listen, don't worry about it. It's not important for
Speaker 1: the story. We'll do that for an other thing. Just
Speaker 1: end of the day. He got this other thing tied
Speaker 1: to his first thing. So the biggest problem was that
Speaker 1: there's just seemed to be no partition. There was no
Speaker 1: division between this bank and his heads Fun, which is like,
Speaker 1: these are technical, these are two different companies, So what
Speaker 1: the what the case is like, Basically, you would put
Speaker 1: your money into f t X, you know as just
Speaker 1: like a regular Joe blow just like, yo, this is
Speaker 1: my little crypto bank, right, and he would take the
Speaker 1: money from there and cover his debts in Alameda and
Speaker 1: pay out the stuff he was supposed to pay out
Speaker 1: from you know, uh situations he had promised people inside
Speaker 1: of his Heads Fund. But as I told you, Crypto
Speaker 1: was dropping. So since Crypto was dropping, foods was like, yo,
Speaker 1: I need my money. So what he was doing was
Speaker 1: taking your money from f t X, putting it in
Speaker 1: the thick thing, putting it into Alameda, paying out everybody,
Speaker 1: and then trying to figure out what I could do
Speaker 1: to put the money back into f t X right
Speaker 1: before somebody come asked for their money. Man, listen, if
Speaker 1: you keep going, ain't a bad hustle. You know. You
Speaker 1: just gotta keep the You just gotta keep the balls
Speaker 1: in the air. If you could keep it in the air,
Speaker 1: you know, and pocket a few dollars here and there.
Speaker 1: You know what I'm saying, As long as all your
Speaker 1: deaths get covered, It's like, what's the problem. I mean, listen,
Speaker 1: it's a hustle. Uh. You know, Once upon a time
Speaker 1: in the past life, when I was teaching eleventh graders.
Speaker 1: It was my first year teaching, like fresh out of college,
Speaker 1: so I'm like maybe four years older than these kids.
Speaker 1: But like anyway, it was like eBay time, right. So
Speaker 1: there was this kid, is eleven grader in my class
Speaker 1: that was selling like aerosol guns on eBay and I
Speaker 1: was like, yo, so where do you keep them? He's like, oh,
Speaker 1: I don't have none of them. I was like what.
Speaker 1: He goes, no, I just buy him and sell them.
Speaker 1: And I'm like, where's the where's the gun? Like you
Speaker 1: never tell you? He's like, no, I've never I've never
Speaker 1: even had one. I just find him on even buy him.
Speaker 1: Then I saw him again I'm like, how so you don't,
Speaker 1: And at the time I remember it is like, you know,
Speaker 1: if it was the early end, and that I was
Speaker 1: like I officially felt old because I was like, I
Speaker 1: don't understand how are you and he making money? This
Speaker 1: kid sitting in my class being like I use a
Speaker 1: computer and I'm like, sure, I don't care, and he's
Speaker 1: over there making more money than my monthly when I
Speaker 1: was making a month as his teacher. At some point,
Speaker 1: I was like, I don't know why I'm assigning anything
Speaker 1: to you, but let me tell you something. By time
Speaker 1: that boy was a senior, he was trading on the
Speaker 1: German stock market. He was getting up for everybody trading,
Speaker 1: and I was like, I don't understand why you keep
Speaker 1: coming to school because you didn't figure this out, Like
Speaker 1: but it was you just showed me something, and I'm like,
Speaker 1: that's that's an incredible hustle. You just I just learned something.
Speaker 1: Like I said, all hustles ain't bad if you keep
Speaker 1: it going. You feel me didn't keep it going. But
Speaker 1: bank Man freed though here in this situation, like Dick,
Speaker 1: so you're plugging up all these holes. He just he
Speaker 1: putting his finger in all these holes. But the ship
Speaker 1: is is sinking because he didn't already spent the money
Speaker 1: in the middle of that. He using money from from
Speaker 1: from a Lamina to I mean this sick paying for like, uh,
Speaker 1: political campaigns, my man buying real estate because like just
Speaker 1: swiping his card, but with the money on his card
Speaker 1: was not his money. It was somebody else's money. But
Speaker 1: he coold because he liked, don't trip, I get it
Speaker 1: by Thursday. I get it back. That's how the game work.
Speaker 1: Don't worry about it, man, We're gonna get these turns. Listen,
Speaker 1: this is what crypto does. It go up and go down.
Speaker 1: Look here a little risk, white boy. You can't talk
Speaker 1: your way out of this. I need my money. Then
Speaker 1: basically everybody rolled up like big worm. What's that big perm?
Speaker 1: I mean big word. I need my money. You either
Speaker 1: have my weed or my money by tonight or I'm
Speaker 1: shooting this whole block up. Basically, that's where everybody came
Speaker 1: and did. They just ran up on it. So he
Speaker 1: did the only thing you can't do, which is filed bankruptcy.
Speaker 1: The problem is though this ain't member f D, I
Speaker 1: C my nigga, it's eight million dollars missing cause don't
Speaker 1: nobody know where the hell it is, and since it's cryptocurrency,
Speaker 1: ain't no way to get it. Don't let nobody tell
Speaker 1: you no different. It is the same. A hustle is
Speaker 1: a hustle, just because it got the name crypto in
Speaker 1: front of it, just because it got E T H
Speaker 1: at the end of the thing, just because it's say
Speaker 1: it's some sort of other kind of technology that's the future, nigger,
Speaker 1: it's a hustle. You gotta know a hustle when you
Speaker 1: see one. Now listen, Am I trying to tell you?
Speaker 1: Is this a Is this a podcast telling you don't
Speaker 1: get into bitcoin? Absolutely not listen, because, like I said,
Speaker 1: our current currency is a hustle. The current bank is
Speaker 1: a hustle. It's the Kindniti dissonance. I'm saying to live with.
Speaker 1: What you gotta decide though, is what your Plan A,
Speaker 1: your Plan B, and your plans C is, Because listen,
Speaker 1: it's hustlers everywhere. Your little n f T, your little
Speaker 1: n f T bathe and ape that you've been owned.
Speaker 1: Now listen, look at if you're in the digital aren't
Speaker 1: you in the digital? A arright? I ain't got no
Speaker 1: problem with that? Why is that eight worth of million dollars? Nika?
Speaker 1: Somebody made that up? Now, granted, why is the modern
Speaker 1: art painting of ship splashed on the wall, Why is
Speaker 1: that worth a million dollars? Somebody made that up? That's
Speaker 1: the art art World's a hustle too. Them numbers is
Speaker 1: pumped up. You know how you know how them do is?
Speaker 1: Did the n f T stuff? You had your homies
Speaker 1: bid on a bid on a thing to shoot the
Speaker 1: price up. It's a hustle. Now does that mean that
Speaker 1: it's not amazing artists in the n f T So
Speaker 1: absolutely not. It's people really out there that's like, really
Speaker 1: excited about this new thing. I'm not saying don't do cryptocurrency.
Speaker 1: It's it's that it might be the future. But listen,
Speaker 1: we had a lot of ways to go, y'all. But listen,
Speaker 1: the more things change, the mode they stay the same.
Speaker 1: You gotta recognize a lick when you see one. You
Speaker 1: need to know a hustler when you see one. And
Speaker 1: let me tell you something. That man is a hustler.
Speaker 1: He ain't no different. Don't let that crypto bro fool you.
Speaker 1: A hustle is a hustle. Her politics, y'all, yo yo.
Speaker 1: This thing right here was recorded by Me Propaganda and
Speaker 1: East Low Spoil Heights, Los Angeles, California. This thing was mixed, edited, mastered,
Speaker 1: and scored by the one and the only matt O Saltski.
Speaker 1: Y'all check out this fool's music. I mean it's incredible.
Speaker 1: Executive produced by Sophie Lictorman for Cool Zone Media. Man,
Speaker 1: and thank you for everybody who continue to tap in
Speaker 1: with us. Make sure you leaving reviews and five star
Speaker 1: ratings and sharing it with domies so we could get
Speaker 1: this thing pushed up in the algorithm and listen. I
Speaker 1: just want to remind you these people is not smarter
Speaker 1: than you. If you understand city living, you understand politics.
Speaker 1: We'll see you next week.