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Speaker 1: An illegal alien from Guatemala charged with raping a child

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Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

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Speaker 1: accused of murdering a Texas man of Venezuelan charged with

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Speaker 1: filming and selling child pornography in Michigan. These are just

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Speaker 1: some of the heinous migrant criminals caught because of President

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Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

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Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

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Speaker 1: crossings are at the lowest levels ever recorded, and over

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Speaker 1: one hundred thousand illegal aliens have been arrested. If you

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Speaker 1: are here illegally, your next you will be fined nearly

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Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

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Speaker 1: never return. But if you register using our CBP home

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Speaker 1: app and leave now, you could be allowed to return legally.

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Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,

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Speaker 1: border and families will be protected.

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Speaker 2: Sponsored by the United States Department of Homeland Security Earners.

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Speaker 3: What's going on?

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Speaker 4: Listen, eylu is relaunching, revamping, retooling. That's why we're creating

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Speaker 4: a new educational experience that's more expensive.

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Speaker 3: Shot.

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Speaker 5: Tell what we got ys twenty twenty three. We got

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Speaker 5: a lot is still a lot playing for you guys.

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Speaker 5: So you know that EYLU already includes monthly financial planning

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Speaker 5: calls with Me, book club calls with Troy, real estate

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Speaker 5: calls with MG the mortgage Guy, access to the home

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Speaker 5: Buying Blueprint Volume one and Volume two.

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Speaker 3: Part of the.

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Speaker 5: Revamp will include twenty seven local chapters from across the

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Speaker 5: United States, live interactive teaching hands on not just pre

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Speaker 5: recorded videos, plus fifteen brand new curriculums.

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Speaker 6: The biggest just got bigger.

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Speaker 7: Head over to e y L university dot com. That's EYL.

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Speaker 7: You n I V E R s I T Y

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Speaker 7: dot com.

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Speaker 2: See you there?

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Speaker 8: Money coming in? Man, listen, You don't you don't. You

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Speaker 8: don't give a guy like me.

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Speaker 3: I was.

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Speaker 8: I was dead, broke to twenty eight years old. The

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Speaker 8: story goes, oh, move turned my mother's house into a factory. Well,

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Speaker 8: let me tell you how that turn it into a factory.

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Speaker 8: Three months later, I was three months later on the

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Speaker 8: mortgage and almost lost my mother's house. I didn't know

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Speaker 8: what I was doing. It wasn't because that I didn't.

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Speaker 8: I didn't. It wasn't because I bought lavish things. But

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Speaker 8: I was paying for real goods and ninety days ahead

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Speaker 8: of time, paying for a staff, paying for you know, shipping,

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Speaker 8: and my store didn't pay me for ninety days. I

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Speaker 8: was being choked by the float, so I had a

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Speaker 8: lack of financial intelligence, so it almost went bankrupt twice.

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Speaker 3: Right, guys, welcome back e y L.

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Speaker 5: This is a highly anticipated episode, something that we've been

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Speaker 5: working on for almost three years, three years in the making.

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Speaker 5: Out to Chauncey for deliberately making this as hard as

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Speaker 5: possible to get.

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Speaker 6: You put every barrier in our way. He gave us

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Speaker 6: fraudulent schedule.

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Speaker 8: Now I wanted to shout out to Chrunk, Thank you, guys.

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Speaker 8: It's not that difficult. Chauncey and I'm dyslexic, but he

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Speaker 8: has a high level of dyslection. So we could have

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Speaker 8: done this three years. We could have done this two

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Speaker 8: years and nine months ago. But I believe it to Chauncey,

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Speaker 8: Yeah make yeah, shout after dyslexics.

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Speaker 5: Well we got it done, so damn Seohn one of

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Speaker 5: the most legendary entrepreneurs of our generation, definitely of our culture.

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Speaker 5: When you look at you know, founder Foolble transitioned into

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Speaker 5: a motivational speaker, to a best selling author, to one

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Speaker 5: of the sharks on Shark Tank has reinvented himself over

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Speaker 5: the years and become a superstar in the entrepreneurial world,

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Speaker 5: one of the only people in our culture that has

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Speaker 5: actually been able to do that.

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Speaker 4: We've got conversations about that. Can we think of a

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Speaker 4: superstar businessman from our culture? We usually start with you,

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Speaker 4: and then we kind of start who else do we know?

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Speaker 4: And then we can name probably three or four, but

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Speaker 4: definitely your name is at the fourth front of them.

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Speaker 8: Yeah, I appreciate that. Obviously, there's many that came before me,

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Speaker 8: Percy Sutton and Kathy Hughes and so many other people.

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Speaker 8: But yeah, it is an honor. But it's also and

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Speaker 8: I listened to you, you know your podcast is also

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Speaker 8: a shame because we were talking previously to this or

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Speaker 8: prior to this. You know, there's very few who have

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Speaker 8: been able to split the world of entertainment and business effectively,

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Speaker 8: right and and as we know, is disgusting that I'm

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Speaker 8: the only African American on a on a on a

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Speaker 8: major network that didn't come from music, sports and politics,

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Speaker 8: when there's so many of us as you as you

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Speaker 8: just you know, you did other best best, embarrassed other things,

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Speaker 8: and a lot of people behind the scenes that they

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Speaker 8: don't see that look like us. Right, it shouldn't be like,

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Speaker 8: nothing wrong with using sports politics to even get to

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Speaker 8: the highest level of that. It's very hard, but yeah,

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Speaker 8: it's it's an honor, but it's crazy.

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Speaker 3: Well, first and foremot, thank you for joining us, appreciate.

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Speaker 8: It, thank you, thanks for having me.

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Speaker 3: So I want to start there, Actually we can start

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Speaker 3: right there.

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Speaker 5: So I've been fascinated with I've been studying this, like

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Speaker 5: as far as having a celebrity from the world of business,

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Speaker 5: and there's a model for it. Donald Trump, I think,

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Speaker 5: was one of the most successful people to actually become

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Speaker 5: a famous celebrity for business. Right, and then you know

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Speaker 5: obviously the Mark Cubans of the world and now Elon

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Speaker 5: Musk and Mark Zuckerberg in a variety of different people.

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Speaker 5: But like you said, for our culture, the superstar entrepreneurs,

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Speaker 5: it's their second career after sports, usually like Magic Johnson,

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Speaker 5: like Michael Jordan, or they're tied to music like Diddy,

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Speaker 5: like jay Z. Very few people have been able to

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Speaker 5: crack that code to gain that level of notoriety, fame

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Speaker 5: and influence not attached to sports or entertainment. You did,

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Speaker 5: was that a vision that you had early in Fooble

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Speaker 5: or like when did you see a pathway of Okay,

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Speaker 5: at some point, I'm going to have to transition and

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Speaker 5: I'm going to have to build my own brand and

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Speaker 5: become a figure that is not attached just to clothing.

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Speaker 8: Great question, Very rare that I have been asked questions

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Speaker 8: that I haven't been asked prior to that. There are

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Speaker 8: cultural and systemic reasons why a lot of times we

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Speaker 8: have not done that. First of all, I want to

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Speaker 8: address that is that if you look at business in general,

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Speaker 8: it used to be making and they will come, and

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Speaker 8: so you do have prior to obviously Trump from Trump

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Speaker 8: came from a very celebrity standpoint. Who's you dating? Whatever

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Speaker 8: the cases prior to that, we may have known of

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Speaker 8: the titans of industry, right for Rockabella da Day, But

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Speaker 8: as African Americans, you know, uh, you know systemically, you know,

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Speaker 8: if you rise up in a company that most likely

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Speaker 8: or almost always was not from your culture, while you

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Speaker 8: start to intimidate people or so you got to be

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Speaker 8: quiet on your rise, right, so you never wanted to

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Speaker 8: be that person in front because you know, all of

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Speaker 8: a sudden, you know, you offend other people that may say, well,

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Speaker 8: why is that person doing that? So a lot of

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Speaker 8: the superstars and the businesses have had to be quiet

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Speaker 8: to watch their back for the most part. So I

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Speaker 8: can understand that. But you look at the other ones

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Speaker 8: who come from these other areas, they were already in

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Speaker 8: front of the camera, right a Jordan, a doctor j

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Speaker 8: or whatever the cases. So it was a very easy

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Speaker 8: transition as well. The only thing they did different than

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Speaker 8: ninety nine percent of the athletes or everybody else is

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Speaker 8: instead of being running down the court and just thinking

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Speaker 8: about the check they get, and they were talking to

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Speaker 8: people on the front of the court and saying, wait,

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Speaker 8: don't you own this and that? Don't you know? Hey man,

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Speaker 8: how can I be of value to you? And they

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Speaker 8: took that asset that they had right there and they

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Speaker 8: doubled down on that. But for me, I never necessarily

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Speaker 8: wanted to be in front of the camera in that sense.

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Speaker 8: I always liked being in front of the camera. But

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Speaker 8: I came up and I came up in house Queens

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Speaker 8: and there was so many music arts from house, so

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Speaker 8: I grew up on its used to cut my hair

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Speaker 8: and uh when you know, like fred Ro used to

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Speaker 8: cut my hair. And you know, I literally dev whose

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Speaker 8: son is uh walk A Floka lived four houses down

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Speaker 8: from me. Uh, the guy everybody knows Bimmy. I remember

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Speaker 8: when I was about seven or six years old. I remember,

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Speaker 8: you know, Uh, I locked him up in my garage

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Speaker 8: because he was about he was a little bit younger

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Speaker 8: than me and I was an only child, and my

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Speaker 8: mother was like, what's going on in the garage. I

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Speaker 8: put him in the garage for like two minutes or whatever.

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Speaker 8: The kid she was, I was like, I got I

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Speaker 8: got a friend to play with. She's like, boy, is

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Speaker 8: that one for the boy down?

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Speaker 3: Make it?

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Speaker 8: Uh? You know I was going on tours at fourteen

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Speaker 8: fifteen years old, and I was like, I'm gonna be

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Speaker 8: the biggest in fashion. My other buddy was like I'm

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Speaker 8: gonna be the biggest in music, I'm gonna be the

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Speaker 8: and other buddies like three or four of us, I'm

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Speaker 8: gonna be the biggest and videos and one of my

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Speaker 8: dudes like, I'm gonna be the biggest drug dealer. Well

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Speaker 8: that was me. Hype williams IRV Gotti and me uh no,

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Speaker 8: and my boy Outfred, who they made the movie Belly about,

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Speaker 8: who literally just came home after twenty seven years.

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Speaker 3: So we all hit about him. Yeah, character character, so

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Speaker 3: we all.

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Speaker 8: So I grew up in this world, you know, but

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Speaker 8: also seeing ll and all of them and not knowing

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Speaker 8: l really well. But of course when you grow up there, well,

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Speaker 8: you know, Mookie's his bodyguardens you go on these tours,

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Speaker 8: and you go when they enjoy New York or or

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Speaker 8: or Poughkeepsie. You know, you roll up there in the

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Speaker 8: car the train. How you can get up there? Uh?

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Speaker 8: And I started to see them, but I saw their

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Speaker 8: personal life was like if El's at a restaurant, he's

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Speaker 8: arguing with his wife, somebody's coming home coming and shoving

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Speaker 8: up at that time, shoving a piece of paper in

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Speaker 8: his face, and they could be having an argument. And

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Speaker 8: I never wanted that level of fame to the most part,

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Speaker 8: but as my partner and I came out with Fubu,

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Speaker 8: I did want some acknowledgement. I wanted to make sure

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Speaker 8: that we were known and we market ourselves so we

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Speaker 8: didn't have to be at the mercy of manager and

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Speaker 8: everybody else need a brown bag to get their man,

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Speaker 8: you know, shoot a shoot a shoot a campaign. And

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Speaker 8: then I transitioned and said, I do want to be

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Speaker 8: the face of business in a sense. But I was

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Speaker 8: thinking more like when we grew up like a Walter Cronkite,

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Speaker 8: you know, like a newscast. You know, when you see

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Speaker 8: a newscast something that walk down the block, you don't

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Speaker 8: go crazy, all right. And so I went onto the

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Speaker 8: show called Shark Tank, and I didn't think it was

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Speaker 8: gonna be a cultural phenomenal. Actually, I didn't even think

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Speaker 8: Shark was gonna work. And I know you've interviewed my

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Speaker 8: man a couple of times, but really Mark Cuban is

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Speaker 8: the one who pushed it over the edge and got

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Speaker 8: it to actually get picked up after the third season

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Speaker 8: when they were going to close it down, because truth

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Speaker 8: be told, all these other cele minims have been on there.

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Speaker 8: After all the other celebrities were saying, I'm not going

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Speaker 8: to go on a show where I don't know who

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Speaker 8: a damon John and Barbara Corker and all the people.

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Speaker 8: I'm too big to go on that show. I need

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Speaker 8: my own show. And Mark, being a tech guy, looked

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Speaker 8: up the data and saw that it was one of

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Speaker 8: the top shows on Network watch kids five to fifteen

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Speaker 8: and parents and kids together, and he said, I don't

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Speaker 8: care who they are. I'll come on the show if

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Speaker 8: it's going to help America and help our children. And

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Speaker 8: when he came on the show, he was able to

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Speaker 8: go on Jimmy Kimmel and all those shows. Because when

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Speaker 8: we were like, yeah, we want to go on Jimmy

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Speaker 8: Kimmel and they were like, well know you, They're like, well,

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Speaker 8: explain Shark Tank. Who wins? Do they get dumped in

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Speaker 8: the pool of sharks? Is a shark week? We couldn't

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Speaker 8: explain it, But it was Mark Cuban that moved it

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Speaker 8: over the level. So anyway, long, long story short, I

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Speaker 8: didn't expect to be here in that sense, being you know,

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Speaker 8: on a very popular culture show. And it has just

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Speaker 8: been a blessing though, because you know, you know, I

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Speaker 8: get to I get to invest in other people's dreams

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Speaker 8: and people walk up to me and all they want

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Speaker 8: to do is share with me their ideas because they

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Speaker 8: just want to feed their family.

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Speaker 5: So the TV was the thing that really pushed you

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Speaker 5: over the edge to become the celebrity figure.

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Speaker 8: You know, I think that until you're famous. You don't know,

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Speaker 8: you ain't paying you know. I was a football guy

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Speaker 8: and I was respecting in various different ways, and it

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Speaker 8: was God blessed me with that. But you know, at

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Speaker 8: this level, when I can call a president, you know,

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Speaker 8: everybody take my call once at least unless I play myself.

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Speaker 8: Yeah I had, I know, I was still on. I

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Speaker 8: can still get on some level of TV at any

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Speaker 8: given time, you know. But I would be getting on

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Speaker 8: the TV and I'd be talking. I would talk more

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Speaker 8: about my perspective on inner city or fashion. Now I

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Speaker 8: can get on and talking about you know, deficits and

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Speaker 8: or where you know, what commodity you should invest in

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Speaker 8: or whatever. Because when you know the fundamentals of businesses,

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Speaker 8: you know, I'm sure as part of your you know,

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Speaker 8: your DNA is your assets feed you and your liabilities

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Speaker 8: equ And when I can talk about that and in

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Speaker 8: some level of being articulate and didn't go to college

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Speaker 8: and I'm not on some PhD, you know level like that,

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Speaker 8: a lot of people relate to that.

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Speaker 4: So the marketing campaign ful Fuoble was one thing, right,

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Speaker 4: because that's a brand. I remember the first time I

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Speaker 4: ever saw it was I was watching video music box.

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Speaker 8: Right.

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Speaker 4: You were talking about me Dani Ralphi Dah for sure, right,

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Speaker 4: And so that was part of the marketing plan to

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Speaker 4: build that. But you also have to build your own

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Speaker 4: personal brandy, which is completely different or maybe there are

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Speaker 4: some similarities there.

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Speaker 6: What was that like for you?

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Speaker 4: Knowing that you have a band, but you're also now

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Speaker 4: having to build a personal brand.

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Speaker 8: You know, I think everybody faces being held in a box, right,

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Speaker 8: And as you build your personal brand, you have to

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Speaker 8: break down the barriers, and even the people that know

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Speaker 8: you and love you and respect you will often say

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Speaker 8: I don't think that's you know, you can't do it,

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Speaker 8: and not because they hate on you, just because they

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Speaker 8: haven't seen the vision yet and you have to be

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Speaker 8: kind of obsessed with it. So to build a personal brand,

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Speaker 8: I had to build that brand that was out of

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Speaker 8: fashion because people are just gonna say, man, you grew

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Speaker 8: fashion company. Want to hear more about fashion? Right? And

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Speaker 8: if I say I want some angel investing in it,

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Speaker 8: but you don't have anything else, how do you know? Right?

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Speaker 8: Because before I became an angel investor, I failed several times.

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Speaker 8: So Fuoboo was sawing to slow down, right, and we

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Speaker 8: started building up in Europe and then I got I

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Speaker 8: bought Ted Baker, brought it to the United States. I

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Speaker 8: licensed it. I failed at it because they wanted to

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Speaker 8: do retail stores. I failed at that. I bought Kappa

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Speaker 8: the soccer company. They were like, man, soccer is going

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Speaker 8: to take off in the United States. Yeah, it's taking off now,

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Speaker 8: will we twenty twenty three? Kapa the Kappa Yeah, the

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Speaker 8: back to back people.

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Speaker 3: Yeah, you own Ted Baker.

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Speaker 8: No, no, no. I licensed it and I gave it

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Speaker 8: back because I failed at it. I was never a

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Speaker 8: retail store operator. Kappa I got in nineteen ninety nine.

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Speaker 8: Failed at it, right because nobody wanted to hold Kappa.

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Speaker 8: They wanted their Ireland or their you know, they wanted

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Speaker 8: one team. Right. Then I got a company called Heather Rett.

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Speaker 8: I failed at another company all married to the mob.

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Speaker 8: Failed at it, and then I brought Kuji out of bankruptcy,

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Speaker 8: also Etonic. I bought Etonic, and so I started to

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Speaker 8: push Kouji out in a big way. But the way

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Speaker 8: that I really got it out, I got it on

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Speaker 8: you know, Ross and all these guys and girls. But

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Speaker 8: I also there was these three young girls out of California,

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Speaker 8: who's coming out with a clothing store and I was

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Speaker 8: in charge of being their product integration person, and nobody.

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Speaker 8: I walked these girls around the entire city and I

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Speaker 8: said to all my people, like the people who will

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Speaker 8: have big brands, Hey, these girls are going to be big.

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Speaker 8: Nobody believe me. Seventy five thousand dollars. You can put

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Speaker 8: all your clothes in their show. The whole year they

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Speaker 8: were like, I don't know what a Kardashian is. They're

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Speaker 8: never going to be anybody. Damon, you're wasting your money,

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Speaker 8: You're wasting your time. So I just for Kujie in

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Speaker 8: the first three seasons of their show, and it was

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Speaker 8: out of here, you know. So you know a lot

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Speaker 8: of different things. But then people knew me then as

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Speaker 8: a as somebody who was an angel investor, because I

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Speaker 8: started acquiring different companies and not stressing that I only

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Speaker 8: needed to build just Fuubul, because I knew that a

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Speaker 8: fashion comes and goals.

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Speaker 6: These things happened simultaneously.

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Speaker 4: Foobuos, you still have Fubum, Yeah, acquiring other brands to yeah.

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Speaker 8: I saw that foolish. So what was what I was

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Speaker 8: doing is I'm a very I'm a just basic common

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Speaker 8: sense analytical person. I knew that if you really look

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Speaker 8: at all the brands in the market, there's there's very few,

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Speaker 8: maybe Nike, Louis Vuitton or the Unicorns. But when I

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Speaker 8: got into the market at first in the in the

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Speaker 8: early nineties, Levi was doing eighteen billion, they went down

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Speaker 8: to three. They're back up to like nine, right, And

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Speaker 8: I knew that was United Colorbedentines. I'm not sure looks

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Speaker 8: for t for various other brands. I didn't take it personal,

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Speaker 8: but I realized that if a kid has four years

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Speaker 8: of football in their closet and they're in high school,

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Speaker 8: when they go to college, they may want to look

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Speaker 8: a little different, right, they want to change up their style.

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Speaker 8: And I didn't take it personal. While a lot of

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Speaker 8: people hold on to certain things, they don't look at

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Speaker 8: the writing on the wall, whether they're an athlete, and

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Speaker 8: they look at sixty five percent athletes a bankrupt three

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Speaker 8: years after leaving the league, Right, it's not that you know.

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Speaker 8: You got to look at the analytics, and when you

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Speaker 8: look at the analytics, then you know how you can

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Speaker 8: solve a problem or adjust yourself to a problem.

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Speaker 5: So you knew that the life cycle of food was

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Speaker 5: only going to be a short period of time.

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Speaker 8: I knew it would have come back, But I knew

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Speaker 8: that what am I going to do by the time

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Speaker 8: it comes back? They said, fashion repeats itself every twenty

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Speaker 8: years like clockwork. Twenty years later, it's repeating itself. Right,

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Speaker 8: You're seeing the drakes and the scissors and all.

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Speaker 3: I'm wearing it right, right.

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Speaker 8: But I knew that, so I had to say to myself, well,

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Speaker 8: what am I going to do? Well, I knew that

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Speaker 8: it's going to last four years. I'm on a ninth

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Speaker 8: year of a four year run, right, three years ramping

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Speaker 8: da da da dah. I said, all right, well, let

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Speaker 8: me keep placing it in Europe and all these other countries.

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Speaker 8: Let me start making other looks, because let me make

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Speaker 8: suits and bedding. Because if you see the big logo

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Speaker 8: out there for a long period of time, I can

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Speaker 8: make twenty thousand shirts with a huge logo, it's gonna

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Speaker 8: it's gonna look like a million shirts. Or I can

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Speaker 8: make a million shirts or a million suits with no logo,

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Speaker 8: and I'll still be as effective, retain more and not down,

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Speaker 8: you know, not push down the value of the company. Right,

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Speaker 8: So you know, you just got to everything is really

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Speaker 8: simple to understand. It's just how do you operate and

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Speaker 8: turn around, you know, and and pivot.

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Speaker 4: What are the challenges with the title of urban clothing

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Speaker 4: because we when we think about that and we think

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Speaker 4: about the brands that have come and stay and have sustainability,

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Speaker 4: they never have that title. But when we look at

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Speaker 4: those categories, we kind of see them come and go.

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Speaker 8: Well, and they all come and go, but it is

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Speaker 8: all it is all why do you put that title

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Speaker 8: on it? Right? Because it's an urban because black people

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Speaker 8: wear the black people design it. Black people wear Levi's

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Speaker 8: and Adidas. Black people design Levi's and Adidas too, right,

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Speaker 8: So you know, people do put you in boxes, you know,

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Speaker 8: you know, I always looked at food was you know,

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Speaker 8: you have Levis, who's the American cowboy? You have uh

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Speaker 8: you know, uh Foo, who's an American street kid. But it's

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Speaker 8: hard to chase after those things that are defining who

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Speaker 8: you are, right because food was known is baggy clothes.

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Speaker 8: Now in Europe we never made baggy clothes. It was

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Speaker 8: here that we love it and the reason why we

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Speaker 8: may And then then people say, well, you know you're

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Speaker 8: the ones who made baggy clothes. The kids had their

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Speaker 8: pants hanging off their ass. No bagging. Clothes actually fits

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Speaker 8: supposed to be worn the right side, so you have

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Speaker 8: a lot of movement in it. Kids wearing clothes hanging

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Speaker 8: off their ass. Sometimes it will be the skinniest jeans

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Speaker 8: I've ever seen in my life. They need to be

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Speaker 8: holding together, man, when they walk in and even they

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Speaker 8: be over down here and they see in the underwear.

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Speaker 8: So so you know, there's gonna be a lot of

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Speaker 8: perceptions of your brand. And that's a good thing. It's

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00:20:00,960 --> 00:20:03,560
Speaker 8: a bad thing when you get so big you can't,

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Speaker 8: you know, really, you know, contain what the perception is.

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Speaker 8: You have to look at it as this is my

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Speaker 8: core consumer. The football core consume was. The core consume

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Speaker 8: was young males eighteen or thirty five who initially wanted

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Speaker 8: to support African American companies, but they didn't necessarily. The

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Speaker 8: only choice they had it was either can take colored

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Speaker 8: type of clothing and or you know other stuff that

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Speaker 8: we were making, you know, Airbrushers UF. But they wanted

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Speaker 8: they wanted very They wanted a jean suit to be

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Speaker 8: blue and not red, or not yellow and not green,

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Speaker 8: and they were willing to pay a little bit extra

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Speaker 8: for quality.

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Speaker 5: So let's revisit this Kardashian situation. How did your relationship

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Speaker 5: start with them? And what's that story.

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Speaker 8: I had a company called heather Ight I was investing in,

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Speaker 8: and I think it was Paris Hilton and the girls

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Speaker 8: from Danny Kine or come in to walk the fashion

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Speaker 8: show and they had this girl with them who was

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Speaker 8: you know, kind of like she had a microphone and

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Speaker 8: it was Kim and and you know, I was like, oh, okay,

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Speaker 8: what's up and talk to him? And and then Chloe

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Speaker 8: and I started hanging out. She became like one of

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Speaker 8: the boys, like Chloe, and we spent New Years together

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Speaker 8: and then uh, Kim started to blow up. She was

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Speaker 8: with Reggie, I think, and uh, and she started to

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Speaker 8: blow up. And then Chloe at the time was like,

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Speaker 8: you know, the you know, I don't know if I

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Speaker 8: really want to get out there like that. And she

433
00:21:33,880 --> 00:21:35,600
Speaker 8: was just one of the boys. We were just hanging out,

434
00:21:36,119 --> 00:21:40,439
Speaker 8: and I remember her. The Kim video came out and

435
00:21:40,480 --> 00:21:42,680
Speaker 8: the show was already kind of like in pilot for him,

436
00:21:42,760 --> 00:21:45,200
Speaker 8: and a lot of people think that Kim had did

437
00:21:45,240 --> 00:21:48,159
Speaker 8: the video or rated whoever right did the video to

438
00:21:48,400 --> 00:21:51,240
Speaker 8: become famous. They asked, were going to cancel the show

439
00:21:51,920 --> 00:21:56,240
Speaker 8: due to that? And then Chris, uh, very very smart.

440
00:21:56,320 --> 00:21:58,880
Speaker 8: Chris had done a lot of this stuff prior to that,

441
00:21:59,720 --> 00:22:02,320
Speaker 8: and said, listen, you know, I know everybody. She knew

442
00:22:02,359 --> 00:22:05,000
Speaker 8: the Olson Twins family and everything else, and she said, hey,

443
00:22:05,400 --> 00:22:08,160
Speaker 8: why don't you help us start to brand the girls

444
00:22:08,240 --> 00:22:10,439
Speaker 8: and help us with the direction. And we were just

445
00:22:10,440 --> 00:22:13,119
Speaker 8: like family, and I just we just kept helping them.

446
00:22:13,200 --> 00:22:14,520
Speaker 8: I had always done it. You know, a lot of

447
00:22:14,520 --> 00:22:17,840
Speaker 8: people don't know that with Fuobu, I was one of

448
00:22:17,840 --> 00:22:23,119
Speaker 8: the top product placement people in We will put out

449
00:22:23,200 --> 00:22:26,640
Speaker 8: stuff in almost if you had reality shows. We put

450
00:22:26,640 --> 00:22:30,080
Speaker 8: our stuff in almost two hundred and fifty videos annually.

451
00:22:30,320 --> 00:22:32,160
Speaker 8: So you would have a lot of the music artists

452
00:22:32,160 --> 00:22:34,280
Speaker 8: and the labels call us to say, hey, we need

453
00:22:34,320 --> 00:22:36,919
Speaker 8: an extra twenty ten or twenty thousand dollars for to

454
00:22:36,920 --> 00:22:39,640
Speaker 8: rent this house, the cars, or whatever the case is,

455
00:22:39,720 --> 00:22:41,800
Speaker 8: and put the brands in there. So I put my

456
00:22:41,880 --> 00:22:44,960
Speaker 8: brand in there. I'd put Jeep Cherokee in there, Kawasaki

457
00:22:45,000 --> 00:22:47,640
Speaker 8: in their embarrassed to the things, and I just love

458
00:22:47,680 --> 00:22:51,720
Speaker 8: the girls. You know, I dealt with a lot of celebrities,

459
00:22:51,760 --> 00:22:55,720
Speaker 8: and you have a lot of people who are their celebrities.

460
00:22:56,800 --> 00:22:58,920
Speaker 8: But then you have people who are business people first.

461
00:22:58,960 --> 00:23:02,200
Speaker 8: In this celebrity second. Business people first are the ones

462
00:23:02,240 --> 00:23:05,200
Speaker 8: who are people of their word. They end up, they

463
00:23:05,240 --> 00:23:07,680
Speaker 8: show up on time. They don't have the massive crew

464
00:23:07,800 --> 00:23:10,000
Speaker 8: looking for the brown bags around them and th old

465
00:23:10,080 --> 00:23:14,600
Speaker 8: business people are like the Kardashians, Pit Bull, Lenox Lewis.

466
00:23:14,640 --> 00:23:18,080
Speaker 8: You have certain people that Catherine Zada Jones. You have

467
00:23:18,200 --> 00:23:20,800
Speaker 8: certain people that you just relate to, right, They're just

468
00:23:20,840 --> 00:23:23,800
Speaker 8: good people. On the other hand, you have the other

469
00:23:23,880 --> 00:23:26,520
Speaker 8: people who are you know, we didn't we don't all

470
00:23:26,680 --> 00:23:29,320
Speaker 8: necessarily roll the same or move the same. You have

471
00:23:29,359 --> 00:23:31,280
Speaker 8: other people who just come from different backgrounds. And I

472
00:23:31,359 --> 00:23:34,280
Speaker 8: like Keith handle that. You know, Keith the one who's

473
00:23:34,280 --> 00:23:36,439
Speaker 8: gonna go to the studio all night with old dirty

474
00:23:36,440 --> 00:23:40,040
Speaker 8: basket at you know, do that track again when you

475
00:23:40,160 --> 00:23:42,800
Speaker 8: when you're shooting something all the way or something for

476
00:23:42,960 --> 00:23:45,200
Speaker 8: me and this my mom, you know what I'm saying.

477
00:23:45,200 --> 00:23:48,919
Speaker 8: So that's the great thing about us is the fooble guys.

478
00:23:48,960 --> 00:23:50,879
Speaker 8: I have to say, my partners, we were able to

479
00:23:50,880 --> 00:23:53,359
Speaker 8: be in four different places at four different times, with

480
00:23:53,520 --> 00:23:57,600
Speaker 8: four different points of view. And then you got Jay.

481
00:23:57,680 --> 00:24:00,520
Speaker 8: They're really classy super you know the dress one who

482
00:24:00,560 --> 00:24:02,880
Speaker 8: was just fly all the time and you got call.

483
00:24:02,960 --> 00:24:06,159
Speaker 8: He kind of flows in between us all so so

484
00:24:06,160 --> 00:24:08,320
Speaker 8: so that's how we always were really affected. We could

485
00:24:08,320 --> 00:24:09,760
Speaker 8: be four different places.

486
00:24:10,359 --> 00:24:14,919
Speaker 3: So Jay, when we interviewed Jay, he said something heed.

487
00:24:14,640 --> 00:24:20,040
Speaker 8: To j already two and Jay, Yo, you ain't go

488
00:24:20,080 --> 00:24:23,359
Speaker 8: through jauntsy on that, did you? No, I'm gonna give

489
00:24:23,359 --> 00:24:26,800
Speaker 8: you money. You got my numberney me.

490
00:24:28,240 --> 00:24:32,040
Speaker 5: So he said like he felt that he kind of

491
00:24:32,080 --> 00:24:34,520
Speaker 5: paraphrasing it, but he kind of blamed the culture for

492
00:24:34,680 --> 00:24:36,760
Speaker 5: the downfall of football because he said, like it gets

493
00:24:36,760 --> 00:24:39,280
Speaker 5: to a point where everybody's rooting for you. You reach to

494
00:24:39,320 --> 00:24:41,520
Speaker 5: a point and then everybody starts to turn it back

495
00:24:41,560 --> 00:24:44,200
Speaker 5: on you, and then they start to make jokes about

496
00:24:44,200 --> 00:24:48,840
Speaker 5: the closing and now it becomes a punchline. And it's

497
00:24:48,880 --> 00:24:52,840
Speaker 5: a weird dynamic that happens with brands in our culture

498
00:24:52,880 --> 00:24:57,160
Speaker 5: where it's like when you reached up the top, now

499
00:24:57,600 --> 00:25:00,560
Speaker 5: you're a corny Yeah, how you feel.

500
00:25:00,320 --> 00:25:03,159
Speaker 8: About we like we like to rip ourselh you know,

501
00:25:03,520 --> 00:25:07,440
Speaker 8: we like to rip Okay, that's not just the US thing,

502
00:25:07,600 --> 00:25:10,480
Speaker 8: right because I see on Shark Tank now there's no

503
00:25:10,560 --> 00:25:15,200
Speaker 8: more the stories are great to talk about where they

504
00:25:15,200 --> 00:25:17,840
Speaker 8: can try to dig and get something that they can't

505
00:25:17,920 --> 00:25:21,879
Speaker 8: because the show is so real. But you know, people

506
00:25:22,000 --> 00:25:23,600
Speaker 8: like to build you up if you down, and then

507
00:25:23,600 --> 00:25:25,560
Speaker 8: build you back up. But yeah, I mean that's truth.

508
00:25:25,640 --> 00:25:28,480
Speaker 8: You know a lot of casts will be like, yo, man,

509
00:25:28,480 --> 00:25:30,000
Speaker 8: what do I get? Fool? Well, man, you don't work?

510
00:25:30,040 --> 00:25:33,480
Speaker 8: I buy it, saying god, damn place you buy everything else?

511
00:25:33,520 --> 00:25:37,200
Speaker 8: You looked it up online? No, no, why you're asking me? Man?

512
00:25:38,640 --> 00:25:44,840
Speaker 8: You know it's just straight up you know that that

513
00:25:45,000 --> 00:25:46,919
Speaker 8: is what happened. But they do make a lot of

514
00:25:46,920 --> 00:25:51,439
Speaker 8: people have made fun of it. But listen, it just

515
00:25:51,560 --> 00:25:57,080
Speaker 8: is what it is. Uh Uh. I'm I'm losto words

516
00:25:57,080 --> 00:25:59,080
Speaker 8: of the sense because I don't think that I don't

517
00:25:59,080 --> 00:26:01,159
Speaker 8: I don't want to say that the wrong way, but

518
00:26:01,800 --> 00:26:04,320
Speaker 8: I do think that we should honor the brands that

519
00:26:04,359 --> 00:26:06,840
Speaker 8: have come out because you won't hear them laugh about

520
00:26:06,880 --> 00:26:12,560
Speaker 8: Supreme or Nike or Yeah, Ralphferene. You won't hear them

521
00:26:12,680 --> 00:26:14,160
Speaker 8: laugh about that stuff.

522
00:26:13,920 --> 00:26:16,960
Speaker 3: Or even Nordika. Even when Nordica fell off. Still it

523
00:26:17,080 --> 00:26:20,360
Speaker 3: never it was corny. Yeah, like yo, like a lot

524
00:26:20,359 --> 00:26:21,600
Speaker 3: of people just stopped wearing it.

525
00:26:21,680 --> 00:26:24,560
Speaker 8: Yeah, you know, I you know, there's systemic things of

526
00:26:24,640 --> 00:26:28,480
Speaker 8: the way above my pay grade to discuss, to really

527
00:26:28,560 --> 00:26:30,520
Speaker 8: articulate those things in the right way. But I think

528
00:26:30,600 --> 00:26:34,960
Speaker 8: sometimes it's the I'm no longer there, yo, I'm better

529
00:26:35,040 --> 00:26:37,399
Speaker 8: than that. And I gotta tell you, you know, we

530
00:26:37,480 --> 00:26:41,359
Speaker 8: never sold fuoble because we never sold it because and

531
00:26:41,400 --> 00:26:44,159
Speaker 8: everybody said we did. We never did. We never sold

532
00:26:44,200 --> 00:26:48,240
Speaker 8: it because so many people said, please don't right, and

533
00:26:48,280 --> 00:26:51,280
Speaker 8: we never sold it. But only ten percent of people

534
00:26:51,680 --> 00:26:54,679
Speaker 8: are African Americans who were foogle. And somebody said, how

535
00:26:54,720 --> 00:26:56,280
Speaker 8: dare you say that? Well, I know because we're big

536
00:26:56,320 --> 00:27:00,760
Speaker 8: in Malaysia, how many black people around lad, We're big

537
00:27:00,760 --> 00:27:03,800
Speaker 8: in Malaysia, big in Germany, We're big in we are

538
00:27:03,840 --> 00:27:11,760
Speaker 8: big in South Africa, but Korea, Philippines. But you know,

539
00:27:11,880 --> 00:27:14,560
Speaker 8: I noticed the ones who wear it the most, let's

540
00:27:14,560 --> 00:27:16,760
Speaker 8: say America, the ten percent to wear the most. It's

541
00:27:16,760 --> 00:27:21,200
Speaker 8: either music artists African I'm talking about black people, right,

542
00:27:21,600 --> 00:27:28,359
Speaker 8: Music artists, very wealthy African Americans and very aware and

543
00:27:28,520 --> 00:27:32,000
Speaker 8: culturally aware African Americans, and they don't wear it is

544
00:27:32,119 --> 00:27:35,480
Speaker 8: just hooble. I think that as you see a lot

545
00:27:35,520 --> 00:27:37,760
Speaker 8: of the big music arts where they say they're making

546
00:27:37,800 --> 00:27:42,600
Speaker 8: a statement of Hey, I can wear anything. I'm aware

547
00:27:42,680 --> 00:27:46,680
Speaker 8: this once in a while too, right, The culturally aware

548
00:27:46,800 --> 00:27:51,240
Speaker 8: African Americans do the same thing. They go listen, no

549
00:27:51,240 --> 00:27:54,520
Speaker 8: matter what, they'll they'll wear dashiki that they wear Louis Baton.

550
00:27:55,800 --> 00:27:58,080
Speaker 8: And then the really wealthy were because they go, I

551
00:27:58,119 --> 00:28:01,119
Speaker 8: can buy anything, and I'm gonna buy time for it

552
00:28:01,119 --> 00:28:03,919
Speaker 8: today and I'm gonna wait, I'm gonna buy this tomorrow. Uh.

553
00:28:04,240 --> 00:28:08,000
Speaker 8: It's the ones who are aspiring to someplace else who

554
00:28:08,040 --> 00:28:10,920
Speaker 8: don't often support it as much as you know they could.

555
00:28:11,000 --> 00:28:14,480
Speaker 8: And you know what, maybe they don't like it. It's fine too,

556
00:28:14,760 --> 00:28:17,240
Speaker 8: you're not. I don't ever want somebody to buy it

557
00:28:17,280 --> 00:28:20,560
Speaker 8: because they're supposed to buy it. You're not supposed to

558
00:28:20,640 --> 00:28:24,840
Speaker 8: buy nothing. We're supposed to provide you value, you know.

559
00:28:24,920 --> 00:28:26,359
Speaker 8: So if you don't buy it because you don't like it,

560
00:28:26,800 --> 00:28:28,679
Speaker 8: I get that too, you know.

561
00:28:29,040 --> 00:28:31,800
Speaker 4: But what you're speaking of, I hear global expansion, and

562
00:28:31,840 --> 00:28:34,480
Speaker 4: you kind of went over the roles of having partners,

563
00:28:34,560 --> 00:28:36,880
Speaker 4: and these guys fly guide out of guys. Guys don't

564
00:28:36,920 --> 00:28:38,680
Speaker 4: run to the studio. But you take me as a

565
00:28:38,720 --> 00:28:41,440
Speaker 4: guy who was the business the business mind, and so

566
00:28:41,560 --> 00:28:44,520
Speaker 4: as you're seeing money coming in yeah, it's the first

567
00:28:44,520 --> 00:28:46,280
Speaker 4: time for everybody, Like that's one of the things in

568
00:28:46,320 --> 00:28:49,040
Speaker 4: our community with first time everything. Right, So we're first

569
00:28:49,040 --> 00:28:52,800
Speaker 4: time millionaires and so what was that like dealing with

570
00:28:53,080 --> 00:28:55,479
Speaker 4: now that we have part with partners, but everybody has

571
00:28:55,520 --> 00:28:57,680
Speaker 4: made money. How we're going to sustain money? What are

572
00:28:57,680 --> 00:28:59,200
Speaker 4: we doing with the money? Are we investing in are

573
00:28:59,240 --> 00:29:01,920
Speaker 4: we reinvested in business? And then when we start to

574
00:29:01,920 --> 00:29:04,920
Speaker 4: see sales decline, now having conversations with saying, all right,

575
00:29:04,920 --> 00:29:06,480
Speaker 4: we might need to scale back a little bit or

576
00:29:06,680 --> 00:29:07,880
Speaker 4: we have to change our plan.

577
00:29:08,920 --> 00:29:14,080
Speaker 8: Man, that's why I seem so successful. Your boy, your boss.

578
00:29:14,120 --> 00:29:16,680
Speaker 8: And when I ride quest to ride, I ain't never

579
00:29:16,720 --> 00:29:18,920
Speaker 8: been asked you any more to be on the spot.

580
00:29:18,960 --> 00:29:22,600
Speaker 8: All right, Well money coming in? Man, listen, you don't

581
00:29:22,640 --> 00:29:24,959
Speaker 8: you don't. You don't give a guy like me. I was.

582
00:29:25,080 --> 00:29:28,160
Speaker 8: I was dead broke, twenty eight years old. The story goes, oh,

583
00:29:28,160 --> 00:29:31,040
Speaker 8: move turned my mother's house into a factory. Well, let

584
00:29:31,080 --> 00:29:33,440
Speaker 8: me tell you how to turn it into a factory.

585
00:29:34,080 --> 00:29:36,080
Speaker 8: Three months later. I was three months later on the

586
00:29:36,120 --> 00:29:38,600
Speaker 8: mortgage and almost lost my mother's house. I didn't know

587
00:29:38,640 --> 00:29:40,680
Speaker 8: what I was doing. It wasn't because that I didn't

588
00:29:40,920 --> 00:29:43,080
Speaker 8: I didn't. It wasn't because I bought lavish things. But

589
00:29:43,120 --> 00:29:45,760
Speaker 8: I was paying for royal goods ninety days ahead of time,

590
00:29:46,320 --> 00:29:49,000
Speaker 8: paying for a staff, paying for you know, shipping, and

591
00:29:49,080 --> 00:29:51,360
Speaker 8: my store didn't pay me for ninety days. I was

592
00:29:51,400 --> 00:29:53,040
Speaker 8: being choked by the float. So I had a lack

593
00:29:53,080 --> 00:29:56,040
Speaker 8: of financial intelligence. So I almost went bankrupt twice before

594
00:29:56,040 --> 00:29:59,480
Speaker 8: I made money. Now I got twenty million liquid in

595
00:29:59,520 --> 00:30:05,080
Speaker 8: the bank. Come on, man, different feeling. Don't give me

596
00:30:05,120 --> 00:30:13,880
Speaker 8: twenty million more bottles. Bottles, got a fide customer every

597
00:30:13,960 --> 00:30:19,720
Speaker 8: night at the club, and I can't. I can't fly commercial.

598
00:30:20,720 --> 00:30:21,760
Speaker 8: That's the sea word.

599
00:30:23,280 --> 00:30:23,960
Speaker 3: Civilized.

600
00:30:24,880 --> 00:30:28,040
Speaker 8: Oh, everybody had a five thousand dollar problem too. For

601
00:30:28,080 --> 00:30:31,040
Speaker 8: some reason, after I stopped giving everybody those everybody, I

602
00:30:31,240 --> 00:30:35,200
Speaker 8: had two fifty a year average out every time I

603
00:30:35,240 --> 00:30:37,840
Speaker 8: whenever I stopped giving those people those five thousand dollars,

604
00:30:37,840 --> 00:30:42,600
Speaker 8: they were still miraculously alive the next year. Oh now, Hi,

605
00:30:42,720 --> 00:30:46,200
Speaker 8: you got to open up a couple of companies. Right then,

606
00:30:46,240 --> 00:30:48,920
Speaker 8: you invest in the market. High planes crash into a building,

607
00:30:49,000 --> 00:30:51,200
Speaker 8: you pull it out low because you're like, it's never

608
00:30:51,240 --> 00:30:52,960
Speaker 8: going to come back, and what are you talking about?

609
00:30:53,240 --> 00:30:54,480
Speaker 8: Come back in eighteen months?

610
00:30:54,640 --> 00:30:54,840
Speaker 7: Oh?

611
00:30:55,000 --> 00:30:56,720
Speaker 8: Bankers are calling you all the time. Yo, let me

612
00:30:56,760 --> 00:30:58,880
Speaker 8: help you with your money, and you know your egos

613
00:30:58,920 --> 00:31:01,960
Speaker 8: in the way, help me my money. How much you

614
00:31:02,000 --> 00:31:05,160
Speaker 8: making to your homeboy? You making two hundred thousand, I

615
00:31:05,200 --> 00:31:07,160
Speaker 8: got twenty million dollars. Maybe I should help you with

616
00:31:07,360 --> 00:31:11,040
Speaker 8: your money, my man. But you don't realize that person

617
00:31:11,240 --> 00:31:15,240
Speaker 8: went to school for financial intelligence and that person is

618
00:31:15,320 --> 00:31:20,120
Speaker 8: working for a JP Morgan Chase and has access to

619
00:31:20,560 --> 00:31:24,720
Speaker 8: what commodities are moving or bonds and various other things.

620
00:31:25,200 --> 00:31:30,160
Speaker 8: So almost on bankrupt and now the business now. And

621
00:31:30,240 --> 00:31:33,120
Speaker 8: this is exactly what potentially happens with athletes. There's nothing

622
00:31:33,120 --> 00:31:35,200
Speaker 8: wrong be an athlete. I mean it's harder to be

623
00:31:35,240 --> 00:31:37,240
Speaker 8: an athlete. I think can make it in what is

624
00:31:37,280 --> 00:31:40,920
Speaker 8: there fifteen hundred professional athletes in the country. I think

625
00:31:40,960 --> 00:31:42,680
Speaker 8: it's harder to be an athlete than it is to

626
00:31:42,720 --> 00:31:44,920
Speaker 8: be a millionaire. So I'm going to tell you these people,

627
00:31:45,040 --> 00:31:48,760
Speaker 8: these athletes are extremely talented and they're at the top

628
00:31:48,840 --> 00:31:51,280
Speaker 8: top of the game, but they didn't learn financial intelligence

629
00:31:51,280 --> 00:31:54,280
Speaker 8: list like I didn't. However, they get abide at the

630
00:31:54,360 --> 00:31:58,720
Speaker 8: Apple at twenty four my body, the apple kept going right.

631
00:31:58,760 --> 00:32:00,760
Speaker 8: But when I saw that when you go I was

632
00:32:00,800 --> 00:32:12,560
Speaker 8: like I now there's a problem, just basically yeah. And

633
00:32:12,800 --> 00:32:18,400
Speaker 8: I was like, yo, there's a problem. Who do I

634
00:32:18,480 --> 00:32:20,640
Speaker 8: need to talk cancel? You know what? I need to

635
00:32:20,640 --> 00:32:24,560
Speaker 8: talk to somebody who don't need me. Let me call

636
00:32:24,600 --> 00:32:29,360
Speaker 8: a bunch of cats who I know. And and they're like, yeah,

637
00:32:29,400 --> 00:32:31,640
Speaker 8: I saw you pulling out that cash every day. Huh,

638
00:32:31,760 --> 00:32:34,360
Speaker 8: I saw you. I didn't want to say nothing. Why

639
00:32:34,360 --> 00:32:36,080
Speaker 8: did you say nothing? They're not my business man. You

640
00:32:36,080 --> 00:32:38,320
Speaker 8: can do what you want your money. But that person

641
00:32:38,480 --> 00:32:40,560
Speaker 8: was worth a billion dollars. Hey, what should I do?

642
00:32:42,160 --> 00:32:44,400
Speaker 8: So I sat home, I watched Jim Crame a mad

643
00:32:44,520 --> 00:32:47,520
Speaker 8: money for three years straight, came on every single day,

644
00:32:47,640 --> 00:32:49,560
Speaker 8: came on twice. It still comes on twice a day.

645
00:32:50,000 --> 00:32:53,000
Speaker 8: And he's just like you, I'm not only here to

646
00:32:53,120 --> 00:32:55,560
Speaker 8: educate you, but to entertain you. And I started to

647
00:32:55,640 --> 00:32:59,600
Speaker 8: understand why stocks move, and what is capital gains and

648
00:32:59,680 --> 00:33:03,080
Speaker 8: com pounding interests and how to go on margin and

649
00:33:03,120 --> 00:33:05,280
Speaker 8: what not to do with margin and barras of the

650
00:33:05,320 --> 00:33:10,960
Speaker 8: things right, and how the wealthy stay wealthy. And they

651
00:33:11,000 --> 00:33:14,280
Speaker 8: pay a certain amount of taxes, but they also there's

652
00:33:14,320 --> 00:33:18,840
Speaker 8: a lot of incentives to give charitable organizations and it

653
00:33:18,880 --> 00:33:21,440
Speaker 8: makes you better, right because somebody who sit there and

654
00:33:21,480 --> 00:33:25,160
Speaker 8: say the rich don't pay taxes. Well, the rich pay taxes,

655
00:33:25,360 --> 00:33:28,560
Speaker 8: but they pay it accordingly. Right, But you would say, well, listen,

656
00:33:28,600 --> 00:33:30,800
Speaker 8: you got ten million dollars in the bank you're in

657
00:33:30,880 --> 00:33:33,160
Speaker 8: in your stocks, right, ten million dollars you have that

658
00:33:33,240 --> 00:33:37,040
Speaker 8: investing in your stock. Your stock go from ten to twenty, right, Well,

659
00:33:37,080 --> 00:33:42,240
Speaker 8: now the ten is your hard cash in that same

660
00:33:43,280 --> 00:33:46,160
Speaker 8: whatever financial institution will let you go on margin, they

661
00:33:46,200 --> 00:33:48,960
Speaker 8: will let you pull out fifty percent. Right, the ten

662
00:33:49,000 --> 00:33:53,400
Speaker 8: million dollars that is that is profitable. Right, that's called margin.

663
00:33:54,040 --> 00:33:56,320
Speaker 8: You could take that margin and go buy more Apple,

664
00:33:56,360 --> 00:33:57,880
Speaker 8: and go, buy more testing, and go. And that's the

665
00:33:57,880 --> 00:34:00,560
Speaker 8: same thing with real estate. When you pull that mark out,

666
00:34:00,760 --> 00:34:05,240
Speaker 8: you're now paying interest a six seventy percent. You're not

667
00:34:05,240 --> 00:34:09,799
Speaker 8: paying taxes at forty percent. You can do that. If

668
00:34:09,800 --> 00:34:11,200
Speaker 8: you have a thousand dollars in a back, you go

669
00:34:11,280 --> 00:34:13,480
Speaker 8: to two thousand, and now you have a thousand on margin. However,

670
00:34:14,560 --> 00:34:17,040
Speaker 8: margin is very dangerous because a lot of people take

671
00:34:17,080 --> 00:34:19,560
Speaker 8: margin and buy the wrong things with it, or margin

672
00:34:19,680 --> 00:34:23,960
Speaker 8: is trading places. Margin. Call gentlemen, when that mark goes down,

673
00:34:24,239 --> 00:34:26,239
Speaker 8: Wait a minute, money, what do you what.

674
00:34:26,120 --> 00:34:26,920
Speaker 3: Are you do?

675
00:34:26,960 --> 00:34:29,440
Speaker 8: Your brother's dying. Fuck him like that, You know, like

676
00:34:29,800 --> 00:34:33,480
Speaker 8: margin could be dangerous. That's called over leveraging, and that's

677
00:34:33,480 --> 00:34:36,839
Speaker 8: what put us in a really big bine in eight right.

678
00:34:37,560 --> 00:34:43,239
Speaker 8: But again, to understand this information, it's right there. You know,

679
00:34:43,360 --> 00:34:45,560
Speaker 8: when I was growing up, it wasn't there. You had

680
00:34:45,600 --> 00:34:48,400
Speaker 8: to call a stock broke, the guy had to or

681
00:34:48,440 --> 00:34:51,120
Speaker 8: the girl had to qualify you. You couldn't go on

682
00:34:51,239 --> 00:34:54,520
Speaker 8: and open a TDM error trade account. You couldn't follow

683
00:34:54,600 --> 00:34:59,359
Speaker 8: one hundred uh you know instagrams that are talking about

684
00:34:59,400 --> 00:35:02,719
Speaker 8: financing and bitcoin and whatever the cases. You didn't have

685
00:35:02,760 --> 00:35:05,320
Speaker 8: to earn your leisure where you can hear cats talking

686
00:35:05,360 --> 00:35:09,000
Speaker 8: about it. I didn't have access to information. Access is

687
00:35:09,000 --> 00:35:13,000
Speaker 8: the most critical thing you need, right. So when I

688
00:35:13,160 --> 00:35:15,319
Speaker 8: started to have that access to information, I said, well,

689
00:35:15,360 --> 00:35:17,200
Speaker 8: let me look at Jim Kramer, who let me ask

690
00:35:17,239 --> 00:35:20,200
Speaker 8: these people over how money. I started to understand what

691
00:35:20,600 --> 00:35:23,200
Speaker 8: it really is to have wealth. And when you get

692
00:35:23,239 --> 00:35:25,839
Speaker 8: in those rooms, when you're in the room of rich people,

693
00:35:25,840 --> 00:35:27,080
Speaker 8: they talk about how much they spent. You get in

694
00:35:27,120 --> 00:35:29,080
Speaker 8: the room with wealthy people, they talk about how much

695
00:35:29,120 --> 00:35:31,520
Speaker 8: they gave away. Totally different game.

696
00:35:32,640 --> 00:35:35,680
Speaker 5: So let's talk about this international player saying you're big

697
00:35:36,000 --> 00:35:37,839
Speaker 5: all over a football curl and a lot of people

698
00:35:37,840 --> 00:35:38,640
Speaker 5: probably don't know that.

699
00:35:39,200 --> 00:35:40,000
Speaker 3: How did that work?

700
00:35:40,040 --> 00:35:41,799
Speaker 5: Like as far as like when did did you go

701
00:35:41,920 --> 00:35:44,960
Speaker 5: to like each market individually? Did you see the landscape

702
00:35:44,960 --> 00:35:49,800
Speaker 5: and say, okay, this Indonesia makes sense and China doesn't

703
00:35:49,840 --> 00:35:52,320
Speaker 5: make sense? Like and how were you able to sustain

704
00:35:52,360 --> 00:35:54,239
Speaker 5: that over the course of twenty years?

705
00:35:55,440 --> 00:36:02,040
Speaker 8: So, man, I feel like this is inspiring, Chunky, you

706
00:36:02,080 --> 00:36:02,360
Speaker 8: got my.

707
00:36:04,920 --> 00:36:08,879
Speaker 3: I gotta get it out.

708
00:36:10,800 --> 00:36:12,560
Speaker 8: I was sitting in my off one day and my

709
00:36:12,640 --> 00:36:15,399
Speaker 8: partner I distributed, and Norm came on me and said, hey, man,

710
00:36:15,440 --> 00:36:17,879
Speaker 8: this guy wants a license your your brand, fool boy,

711
00:36:17,920 --> 00:36:20,680
Speaker 8: So license? What the hell is the license?

712
00:36:20,719 --> 00:36:21,000
Speaker 6: He said?

713
00:36:21,040 --> 00:36:24,759
Speaker 8: Yeah, this is Joanah Cash. He's worth about six or

714
00:36:24,800 --> 00:36:27,080
Speaker 8: seven billion dollars almos a serious towers A couple of

715
00:36:27,120 --> 00:36:30,200
Speaker 8: brands you may have heard of, a guess Jordan ash

716
00:36:30,239 --> 00:36:32,360
Speaker 8: he wants to do food with ladies. So well, what

717
00:36:32,400 --> 00:36:33,680
Speaker 8: do you mean? He said with daman, you don't want

718
00:36:33,680 --> 00:36:35,600
Speaker 8: to do lady. We don't want to do ladies. Why, well,

719
00:36:35,800 --> 00:36:39,239
Speaker 8: we don't make ladies clothes said but I mean clothes, Yeah, man,

720
00:36:40,440 --> 00:36:43,799
Speaker 8: a gene in men's right aside thirty four. There's four

721
00:36:43,800 --> 00:36:46,200
Speaker 8: sizes right, thirty four long, thirty four short, thirty four bag,

722
00:36:46,239 --> 00:36:49,400
Speaker 8: and thirty four slim a dinner pan. In women's for

723
00:36:49,480 --> 00:36:53,880
Speaker 8: a size twelve, there's twenty one sizes. Right. The thighs

724
00:36:53,960 --> 00:36:59,359
Speaker 8: is big, the gap in the back stretched thighs. He said, Yo, man,

725
00:36:59,360 --> 00:37:01,320
Speaker 8: you don't want to do it. You want a license,

726
00:37:01,320 --> 00:37:03,080
Speaker 8: And what the hell is it like? It's like a lease.

727
00:37:03,280 --> 00:37:06,239
Speaker 8: You'll you know, they'll, they'll they'll take this. You authorize,

728
00:37:06,320 --> 00:37:09,200
Speaker 8: you put the models in, you authorize everything, and they'll

729
00:37:09,239 --> 00:37:12,640
Speaker 8: give you ten percent. If you will make your mouth,

730
00:37:12,880 --> 00:37:16,799
Speaker 8: you're gonna get fifteen percent of gross, meaning if they

731
00:37:16,880 --> 00:37:20,040
Speaker 8: do one million dollars, they probably will clear. In a

732
00:37:20,080 --> 00:37:23,400
Speaker 8: good day, you'll clear twenty five, maybe thirty percent, three

733
00:37:23,520 --> 00:37:27,319
Speaker 8: hundred thousand. They'll give you one hundred thousand dollars. I said,

734
00:37:27,360 --> 00:37:29,879
Speaker 8: and what else I have to do? No? Nothing? You mean,

735
00:37:30,120 --> 00:37:34,480
Speaker 8: no staff, no inventory, no financial capital at rism. No,

736
00:37:34,520 --> 00:37:37,920
Speaker 8: they're like any And then so Jordash license the brand,

737
00:37:39,080 --> 00:37:42,319
Speaker 8: they go do one hundred million dollars, they come back

738
00:37:42,320 --> 00:37:45,759
Speaker 8: with ten million dollars and I'm like, I didn't have

739
00:37:45,760 --> 00:37:48,239
Speaker 8: to do anything for this. No, you didn't. You just

740
00:37:48,280 --> 00:37:52,360
Speaker 8: have to keep the core customer happy. Then we go

741
00:37:52,400 --> 00:37:54,920
Speaker 8: on license boots, bags, ladies, fragrant d da dada. I

742
00:37:54,960 --> 00:37:57,080
Speaker 8: was like, holy, this is like stealing. This is like

743
00:37:57,120 --> 00:37:59,640
Speaker 8: taking a cookie from a child, like a two year old.

744
00:37:59,640 --> 00:38:02,719
Speaker 8: Give me a right. So all of a sudden, they

745
00:38:02,960 --> 00:38:04,719
Speaker 8: you want to license a territory. What do you mean

746
00:38:04,800 --> 00:38:06,640
Speaker 8: license a territory? You want to try to go and

747
00:38:06,680 --> 00:38:10,839
Speaker 8: build in Japan? No, why would I do that? Oh well,

748
00:38:10,880 --> 00:38:13,959
Speaker 8: a trading company called Mitsubishi wants to license your brand

749
00:38:14,000 --> 00:38:18,800
Speaker 8: in Japan. Okay, ten million dollars coming any other countries

750
00:38:18,800 --> 00:38:21,840
Speaker 8: out there, and then we start rolling them out because

751
00:38:21,840 --> 00:38:25,480
Speaker 8: we learn the value of license. Don't need me wrong, earners,

752
00:38:25,480 --> 00:38:25,839
Speaker 8: what's up?

753
00:38:25,920 --> 00:38:28,400
Speaker 4: You ever walk into a small business and everything just

754
00:38:28,560 --> 00:38:31,720
Speaker 4: works like the checkout is fast, the receipts are digital,

755
00:38:32,280 --> 00:38:35,240
Speaker 4: tipping is a breeze, and you're out the door before

756
00:38:35,239 --> 00:38:39,400
Speaker 4: the line even builds odds are they're using Square? We

757
00:38:39,560 --> 00:38:42,120
Speaker 4: love supporting businesses that run on Square because it just

758
00:38:42,160 --> 00:38:45,360
Speaker 4: feels seamless. Whether it's a local coffee shop, a vendor

759
00:38:45,440 --> 00:38:47,680
Speaker 4: at a pop up market, or even one of our

760
00:38:47,760 --> 00:38:50,879
Speaker 4: merch partners. Square makes it easy for them to take

761
00:38:50,920 --> 00:38:55,080
Speaker 4: payments manage inventory, and run their business with confidence, all

762
00:38:55,120 --> 00:38:58,440
Speaker 4: from one simple system. If you're a business owner or

763
00:38:58,560 --> 00:39:02,200
Speaker 4: even just thinking about launching something soon, Square is hands

764
00:39:02,239 --> 00:39:04,160
Speaker 4: down one of the best tools out there to help

765
00:39:04,239 --> 00:39:07,920
Speaker 4: you start, run, and grow. It's not just about payments,

766
00:39:08,320 --> 00:39:10,960
Speaker 4: it's about giving you time back so you can focus

767
00:39:11,000 --> 00:39:13,719
Speaker 4: on what matters most ready. To see how Square can

768
00:39:13,760 --> 00:39:18,560
Speaker 4: transform your business, visit Square dot com backslash go backslash

769
00:39:18,640 --> 00:39:22,799
Speaker 4: eyl to learn more that Square dot com backslash, go

770
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Speaker 4: backslash eyl. Don't wait, don't hesitate. Let's Square handle the

771
00:39:27,480 --> 00:39:31,279
Speaker 4: back end so you can keep pushing your vision forward.

772
00:39:33,600 --> 00:39:35,839
Speaker 4: This episode is brought to you by P and C Bank.

773
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Speaker 4: A lot of people think podcasts about work are boring,

774
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Speaker 4: and sure, they definitely can be, but understanding a professional's

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776
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777
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779
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780
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781
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783
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784
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Speaker 1: An illegal alien from Guatemala charged with raping a child

785
00:40:19,160 --> 00:40:22,960
Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador

786
00:40:23,239 --> 00:40:27,360
Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with

787
00:40:27,440 --> 00:40:31,319
Speaker 1: filming and selling child pornography in Michigan. These are just

788
00:40:31,400 --> 00:40:35,200
Speaker 1: some of the heinous migrant criminals caught because of President

789
00:40:35,200 --> 00:40:38,800
Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States

790
00:40:38,800 --> 00:40:43,600
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

791
00:40:43,640 --> 00:40:47,200
Speaker 1: crossings are at the lowest levels ever recorded, and over

792
00:40:47,239 --> 00:40:50,480
Speaker 1: one hundred thousand illegal aliens have been arrested. If you

793
00:40:50,520 --> 00:40:54,400
Speaker 1: are here illegally, your next you will be fined nearly

794
00:40:54,480 --> 00:40:58,479
Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

795
00:40:58,520 --> 00:41:02,160
Speaker 1: never return. But if you registered using our CBP home

796
00:41:02,239 --> 00:41:05,600
Speaker 1: app and leave now, you could be allowed to return legally.

797
00:41:05,960 --> 00:41:06,759
Speaker 1: Do what's right.

798
00:41:07,360 --> 00:41:08,200
Speaker 8: Leave now.

799
00:41:08,520 --> 00:41:12,880
Speaker 1: Under President Trump, America's laws, border and families.

800
00:41:12,480 --> 00:41:13,320
Speaker 8: Will be protected.

801
00:41:13,440 --> 00:41:15,520
Speaker 2: Sponsored by the United States Department of Homeland Security.

802
00:41:15,600 --> 00:41:18,959
Speaker 8: Own licensees can be wrong too, because if somebody takes

803
00:41:19,000 --> 00:41:21,600
Speaker 8: in a license and they don't value or respect your brand.

804
00:41:21,600 --> 00:41:23,759
Speaker 8: And all of a sudden, your brand is in this

805
00:41:24,040 --> 00:41:28,160
Speaker 8: department store looking really good, and the lady's brand is

806
00:41:28,200 --> 00:41:29,759
Speaker 8: out there on the corner of the street meet and

807
00:41:29,840 --> 00:41:32,320
Speaker 8: soft serve, and they're just trying to move it really quickly.

808
00:41:32,360 --> 00:41:34,919
Speaker 8: You're like, what happened? And it can it can kill

809
00:41:35,000 --> 00:41:38,200
Speaker 8: your brand. So that's really what happened. We moved into

810
00:41:38,760 --> 00:41:42,120
Speaker 8: a lot of countries. Some work, some didn't. But when

811
00:41:42,400 --> 00:41:45,160
Speaker 8: when we were in Japan, they want to wear more

812
00:41:45,480 --> 00:41:48,920
Speaker 8: like characters like, so we had to say, we'll give

813
00:41:49,000 --> 00:41:51,719
Speaker 8: you fifty percent of the identification of the brand what

814
00:41:51,880 --> 00:41:54,360
Speaker 8: it is here because they love hip hop and you

815
00:41:54,520 --> 00:41:57,239
Speaker 8: can make your own. Fifty percent of the type of

816
00:41:57,360 --> 00:41:59,840
Speaker 8: stye you like, will approve it, will approve all that

817
00:42:00,000 --> 00:42:03,160
Speaker 8: advertising and all the marketing, right, And that's how we

818
00:42:03,239 --> 00:42:05,640
Speaker 8: move the countries. Some countries work, some didn't.

819
00:42:07,040 --> 00:42:10,840
Speaker 5: So somebody else just essentially, I give you ten percent

820
00:42:11,000 --> 00:42:12,960
Speaker 5: and now everything is on me. I just get to

821
00:42:13,040 --> 00:42:13,840
Speaker 5: put fooble on it.

822
00:42:14,040 --> 00:42:16,839
Speaker 3: But I gotta manufacture it, gotta I gotta do all

823
00:42:16,920 --> 00:42:17,320
Speaker 3: that stuff.

824
00:42:17,400 --> 00:42:19,480
Speaker 8: You gotta go to trade shows. You got to say

825
00:42:19,520 --> 00:42:23,040
Speaker 8: your staff, every single thing is your job. And then

826
00:42:23,640 --> 00:42:26,120
Speaker 8: when in a traditional license, what happened is is you

827
00:42:26,320 --> 00:42:28,719
Speaker 8: you say, listen, I'll give you the first eighteen months

828
00:42:28,800 --> 00:42:30,560
Speaker 8: equals a year, right, you got to develop the rand

829
00:42:30,600 --> 00:42:33,399
Speaker 8: of six months, get it out there. That's one year.

830
00:42:33,760 --> 00:42:36,560
Speaker 8: You got a three to five year license, right, so

831
00:42:36,719 --> 00:42:38,680
Speaker 8: five years you run the license. If you hit all

832
00:42:38,719 --> 00:42:41,879
Speaker 8: the things you're supposed to do, and there's a minimum guarantee. Hey,

833
00:42:42,400 --> 00:42:44,319
Speaker 8: we believe we're going to do one million the first year,

834
00:42:44,440 --> 00:42:47,360
Speaker 8: five million, the second year, ten whatever case is on

835
00:42:47,480 --> 00:42:50,360
Speaker 8: and on. You're supposed to get a minimum of whatever

836
00:42:50,360 --> 00:42:53,239
Speaker 8: your license is ten percent, so million dollars a year.

837
00:42:53,560 --> 00:42:55,920
Speaker 8: You know, no matter what happens, they got to give

838
00:42:55,920 --> 00:42:59,600
Speaker 8: you one hundred thousand dollars. Now it's all like a partnership.

839
00:43:00,040 --> 00:43:01,920
Speaker 8: What if you had a rough time, what if somebody said,

840
00:43:01,960 --> 00:43:04,319
Speaker 8: what if I said something crazy about foolble window was hurt?

841
00:43:04,360 --> 00:43:06,000
Speaker 8: They can need to try to buy say I don't

842
00:43:06,040 --> 00:43:07,960
Speaker 8: want the license no more. I can say, guys, I

843
00:43:08,080 --> 00:43:10,080
Speaker 8: get it. Only give me fifty. But if they're doing

844
00:43:10,160 --> 00:43:12,440
Speaker 8: really good, you can get five hundred thousands on that license.

845
00:43:12,440 --> 00:43:15,279
Speaker 8: A million. Everybody wants to win, right, and that's how

846
00:43:15,320 --> 00:43:17,400
Speaker 8: you do a license and if you hit all the

847
00:43:17,480 --> 00:43:20,880
Speaker 8: criterias and let's say five years, you get an automatic

848
00:43:21,000 --> 00:43:24,960
Speaker 8: renewal every single year. Damon, I gave you one hundred,

849
00:43:25,160 --> 00:43:26,759
Speaker 8: then I gave you this, I gave you that, I

850
00:43:26,920 --> 00:43:30,240
Speaker 8: built this brand for you. I need an automatic renewal

851
00:43:30,280 --> 00:43:32,960
Speaker 8: because I hit all the marks. Right, So these are

852
00:43:33,000 --> 00:43:36,120
Speaker 8: the way licensing go. It's basically a lease, right, It's

853
00:43:36,160 --> 00:43:40,200
Speaker 8: like leasing a car or leasing an apartment. And but again,

854
00:43:40,480 --> 00:43:43,320
Speaker 8: if you're in Walmart, well your license maybe three percent

855
00:43:43,400 --> 00:43:47,320
Speaker 8: because Walmart's gonna do ten million a year automatically, but

856
00:43:47,480 --> 00:43:51,759
Speaker 8: the margin is much smaller on the profit. So that's

857
00:43:51,800 --> 00:43:52,480
Speaker 8: the way license is.

858
00:43:52,600 --> 00:43:55,239
Speaker 4: Well, do you think because the margins are so much

859
00:43:55,239 --> 00:43:58,719
Speaker 4: smaller and maybe you get the ten million, that maybe

860
00:43:58,760 --> 00:44:01,720
Speaker 4: people that are in the fact, well, especially from our culture,

861
00:44:02,200 --> 00:44:04,880
Speaker 4: decided to go with the sell route rather than what

862
00:44:05,080 --> 00:44:07,640
Speaker 4: route selling the company because we've seen people sell their

863
00:44:07,680 --> 00:44:10,080
Speaker 4: clothing brands rather than going the.

864
00:44:10,200 --> 00:44:13,239
Speaker 6: Route of leasing. They might not even know that was

865
00:44:13,239 --> 00:44:15,840
Speaker 6: the other part, or are they weren't educating in.

866
00:44:16,680 --> 00:44:21,799
Speaker 8: You know, you know businesses, everything is in art, right,

867
00:44:22,120 --> 00:44:27,600
Speaker 8: and money. If you are running a business, often the

868
00:44:27,719 --> 00:44:31,960
Speaker 8: boss doesn't get paid, right, it's a huge cash suck.

869
00:44:32,400 --> 00:44:35,440
Speaker 8: You're bringing the money, you're investing some here, you're investing

870
00:44:35,520 --> 00:44:38,000
Speaker 8: some there, right, and you're paying for all the great

871
00:44:38,040 --> 00:44:40,320
Speaker 8: people that work for you, the averatar and the marketing,

872
00:44:40,400 --> 00:44:42,880
Speaker 8: and you don't get paid. We happen to have a

873
00:44:42,960 --> 00:44:46,319
Speaker 8: great distribution deal. We had another trading company, Samsung, who

874
00:44:46,480 --> 00:44:49,600
Speaker 8: was manufacturing and distributing on clothes right, and we were

875
00:44:50,320 --> 00:44:52,640
Speaker 8: being able to finanswers through there. But you often have

876
00:44:52,719 --> 00:44:55,680
Speaker 8: to raise funds, and sometimes people sell to take money

877
00:44:55,719 --> 00:44:59,719
Speaker 8: off the table. Sometimes they sell because they go I've

878
00:44:59,760 --> 00:45:04,520
Speaker 8: been I've had plenty. I hear this about, I hear

879
00:45:04,560 --> 00:45:07,200
Speaker 8: this about. I don't know ten times a year I

880
00:45:07,480 --> 00:45:10,239
Speaker 8: was the richest poorest man or woman in the room.

881
00:45:10,320 --> 00:45:15,200
Speaker 8: Why I was doing two hundred million dollars. I lived

882
00:45:15,239 --> 00:45:18,400
Speaker 8: a great life, car that's whatever. But I wasn't saving

883
00:45:18,560 --> 00:45:21,160
Speaker 8: enough because if I even made an extra ten million,

884
00:45:21,560 --> 00:45:23,920
Speaker 8: I'm putting it back in the business. So now a

885
00:45:24,000 --> 00:45:26,600
Speaker 8: public company came in and took me out right and

886
00:45:26,840 --> 00:45:29,400
Speaker 8: gave me took out fifty one percent. I took a

887
00:45:29,440 --> 00:45:31,239
Speaker 8: good amount of money at the table. I got to

888
00:45:31,320 --> 00:45:33,400
Speaker 8: now work for it for three years of the face

889
00:45:33,520 --> 00:45:37,960
Speaker 8: and operated no problem. So you'll always come across those challenges.

890
00:45:39,200 --> 00:45:41,440
Speaker 8: That's a very personal decision. Why are you in business?

891
00:45:41,480 --> 00:45:43,719
Speaker 8: Do you want partners? Do you want to be taken out.

892
00:45:44,120 --> 00:45:46,239
Speaker 8: There's a lot of people who've had companies who end

893
00:45:46,400 --> 00:45:48,799
Speaker 8: up not having anything at the end of the day

894
00:45:48,840 --> 00:45:51,800
Speaker 8: because they put the money in so much. Everybody got paid.

895
00:45:52,719 --> 00:45:54,759
Speaker 8: You know one person who got paid more than all

896
00:45:54,840 --> 00:45:56,920
Speaker 8: of us, our gene maker in the beginning. You know

897
00:45:56,960 --> 00:46:00,399
Speaker 8: what he said, guy from China. He said, I don't

898
00:46:00,440 --> 00:46:02,000
Speaker 8: care if you make a gene for four dollars, you

899
00:46:02,080 --> 00:46:05,280
Speaker 8: make it a fifty dollars. I want one dollar a gene.

900
00:46:05,360 --> 00:46:08,440
Speaker 8: I will I'll handle it. I'll I'll get the buttons,

901
00:46:08,440 --> 00:46:10,600
Speaker 8: I'll put thee all the things you want together, I'll

902
00:46:10,600 --> 00:46:13,040
Speaker 8: put together. I'll package our queer customs whatever. He made

903
00:46:13,200 --> 00:46:17,240
Speaker 8: one dollar a gene. Five years in he made thirty

904
00:46:17,320 --> 00:46:22,719
Speaker 8: million jeans. He didn't have any staff, he didn't have

905
00:46:22,840 --> 00:46:26,719
Speaker 8: to do any advertising, any marketing. So there's a lot

906
00:46:26,760 --> 00:46:29,680
Speaker 8: of people who are gonna get paid often and you don't.

907
00:46:30,040 --> 00:46:32,399
Speaker 8: You'll turn around, you have a retail store. But who

908
00:46:32,440 --> 00:46:35,520
Speaker 8: got paid. I'll give you. I'll give you an instance.

909
00:46:35,560 --> 00:46:38,360
Speaker 8: One of my buddies, really wealthy real estate guy he

910
00:46:38,440 --> 00:46:41,000
Speaker 8: talks to a huge, huge celebrity that we all know,

911
00:46:41,560 --> 00:46:44,919
Speaker 8: we all know of, not an African American celebrities. Happened

912
00:46:44,960 --> 00:46:47,440
Speaker 8: in a celebrity and the guy was like, yeah, you know,

913
00:46:47,600 --> 00:46:50,160
Speaker 8: I'm opening all these stores in these areas and he

914
00:46:50,239 --> 00:46:52,160
Speaker 8: has all a lot of different type of stuff. He said, Oh, cool,

915
00:46:52,719 --> 00:46:55,640
Speaker 8: you ownly in the stores. He said, no, no, I

916
00:46:55,640 --> 00:46:57,640
Speaker 8: don't know. I don't ownly in that real estate. You know.

917
00:46:58,120 --> 00:46:59,799
Speaker 8: And let's say I'm not gonna say what he's selling.

918
00:47:00,160 --> 00:47:01,960
Speaker 8: You know, you'll know what he's selling. He's changed his

919
00:47:02,040 --> 00:47:04,120
Speaker 8: business now. And he was on the phone with these

920
00:47:04,200 --> 00:47:06,399
Speaker 8: big agents. These agents were on the phone with him.

921
00:47:06,520 --> 00:47:08,600
Speaker 8: He was on the phone. Everybody's on the phone, and

922
00:47:08,640 --> 00:47:10,080
Speaker 8: he just kind of wanted to talk to my real

923
00:47:10,200 --> 00:47:12,560
Speaker 8: estate guy. A real estate guy said, let's say he

924
00:47:12,719 --> 00:47:16,960
Speaker 8: was just selling I don't know, let's say he was

925
00:47:16,960 --> 00:47:19,719
Speaker 8: selling juices, green drinks. And he said, so you don't

926
00:47:19,760 --> 00:47:23,279
Speaker 8: even real estate. He said no. He said, you're a

927
00:47:23,320 --> 00:47:23,960
Speaker 8: fucking schmuck.

928
00:47:25,960 --> 00:47:26,560
Speaker 6: That's crazy.

929
00:47:26,680 --> 00:47:29,200
Speaker 8: He said, what the agent's on the phone. You can't

930
00:47:29,200 --> 00:47:30,480
Speaker 8: talk to him like that. He's one of the biggest

931
00:47:30,480 --> 00:47:32,759
Speaker 8: stars in the normal And he said, hold on, why

932
00:47:32,800 --> 00:47:36,120
Speaker 8: you call me a smug. You got to deal with

933
00:47:36,239 --> 00:47:38,840
Speaker 8: bringing in the juice, making the juice to employees, the taxes,

934
00:47:38,880 --> 00:47:41,319
Speaker 8: all the kinds of advertising marketing. I get paid whether

935
00:47:41,400 --> 00:47:44,240
Speaker 8: you sell a goddamn juice or not. You're a schmuck.

936
00:47:45,880 --> 00:47:50,040
Speaker 8: Everybody hung up the phone. No, you can't talk to

937
00:47:50,120 --> 00:47:51,640
Speaker 8: him like that. He's not used to talking like I

938
00:47:51,760 --> 00:47:53,080
Speaker 8: know why he's not like. You know why he's not

939
00:47:53,160 --> 00:47:54,680
Speaker 8: used to talking like that because you're busy trying to

940
00:47:54,719 --> 00:47:57,120
Speaker 8: make twenty percent of every deal you do. And I

941
00:47:57,239 --> 00:47:58,960
Speaker 8: get it. You don't want to tie him up with

942
00:47:59,000 --> 00:48:00,600
Speaker 8: people who may not do the right or the wrong

943
00:48:00,680 --> 00:48:02,680
Speaker 8: thing with him, so you don't look crazy. But he's

944
00:48:02,719 --> 00:48:08,239
Speaker 8: a schmuck. That star called the guy separately, flew out

945
00:48:08,320 --> 00:48:10,200
Speaker 8: to where he was and was like, I sat with

946
00:48:10,280 --> 00:48:11,640
Speaker 8: him for three days and said, let me look through

947
00:48:11,719 --> 00:48:14,200
Speaker 8: your papers if possible, you know, kind of mentor me.

948
00:48:14,680 --> 00:48:17,279
Speaker 8: Now that guy owned all the real estate. But there's

949
00:48:17,360 --> 00:48:19,680
Speaker 8: a lot of people who can get paid out of

950
00:48:19,760 --> 00:48:23,320
Speaker 8: your business, and you don't if you don't tweak things

951
00:48:23,760 --> 00:48:24,399
Speaker 8: the right way.

952
00:48:24,760 --> 00:48:27,040
Speaker 3: That's a fact. Pretty much working and pay everybody else.

953
00:48:28,880 --> 00:48:32,279
Speaker 8: Everybody's getting paid for you, Isn't that? Isn't that entrepreneurship

954
00:48:32,320 --> 00:48:34,400
Speaker 8: at the time, because when you start, you don't own anything.

955
00:48:34,800 --> 00:48:36,439
Speaker 8: When you start, you want to you want to solve

956
00:48:36,480 --> 00:48:39,560
Speaker 8: a problem, right, you know, you guys started by wanting

957
00:48:39,560 --> 00:48:41,640
Speaker 8: to solve a problem. There's something out there that is

958
00:48:41,719 --> 00:48:44,680
Speaker 8: not entertaining but educating. And we want to make sure

959
00:48:44,719 --> 00:48:46,400
Speaker 8: we bring in a certain way. And we wanted to

960
00:48:46,440 --> 00:48:49,360
Speaker 8: be a value to a very certain community. But we

961
00:48:49,440 --> 00:48:51,440
Speaker 8: want to bring everybody out there. And once it's a

962
00:48:51,520 --> 00:48:54,800
Speaker 8: value here, it'll it'll flow, no problem and and and

963
00:48:55,000 --> 00:48:57,560
Speaker 8: we just want to solve a problem. You guys didn't

964
00:48:57,600 --> 00:49:00,880
Speaker 8: own microphone, the microphone company, you didn't own the camera company.

965
00:49:01,239 --> 00:49:03,960
Speaker 8: Now you can honestly do more of what you have

966
00:49:04,320 --> 00:49:07,719
Speaker 8: and do things. But when you start, all you're trying

967
00:49:07,760 --> 00:49:09,880
Speaker 8: to do is solve a problem. You're not thinking about

968
00:49:10,000 --> 00:49:12,960
Speaker 8: owning anything. All you need is help, right, and that's that.

969
00:49:13,280 --> 00:49:17,080
Speaker 8: But where during that time do you switch and say?

970
00:49:17,160 --> 00:49:19,560
Speaker 8: Barbara Corkon always say it was the building she owned

971
00:49:19,640 --> 00:49:22,400
Speaker 8: more than the building she sold, that she realized she

972
00:49:22,520 --> 00:49:25,120
Speaker 8: made more money. She decided to put bigger offices in

973
00:49:25,239 --> 00:49:26,840
Speaker 8: bigger building that she owned.

974
00:49:28,640 --> 00:49:31,680
Speaker 5: So let's talk about some angel investing. Obviously, being on

975
00:49:31,760 --> 00:49:35,200
Speaker 5: Shark Tank, you were investing before, but now you do it.

976
00:49:35,320 --> 00:49:37,279
Speaker 5: So a lot of people look at Shark Tank and

977
00:49:37,280 --> 00:49:39,920
Speaker 5: they don't think it's like a real business thing. They

978
00:49:40,000 --> 00:49:42,040
Speaker 5: just think it's like Hollywood. But you're actually investing in

979
00:49:42,120 --> 00:49:43,120
Speaker 5: some of these companies right.

980
00:49:44,719 --> 00:49:46,320
Speaker 8: Right, well, doing something like you believe in it.

981
00:49:47,360 --> 00:49:51,120
Speaker 3: I'm just sitting the public seasons open for the public.

982
00:49:53,080 --> 00:49:53,480
Speaker 3: I got you.

983
00:49:53,600 --> 00:49:57,120
Speaker 8: I got you, yo, man, I didn't give you my

984
00:49:57,239 --> 00:49:57,919
Speaker 8: number yet did.

985
00:49:58,840 --> 00:50:01,959
Speaker 3: Fifteen seasons of the So yeah, so let's talk about

986
00:50:02,040 --> 00:50:03,239
Speaker 3: some successes.

987
00:50:03,880 --> 00:50:05,800
Speaker 8: Let's talk about that. But you know what, I was

988
00:50:05,880 --> 00:50:08,279
Speaker 8: sitting with somebody the other night and he said to

989
00:50:08,400 --> 00:50:10,480
Speaker 8: me the same thing, And I said, man, why do

990
00:50:10,600 --> 00:50:14,040
Speaker 8: you ask me that? I said, because after all these years,

991
00:50:14,120 --> 00:50:16,480
Speaker 8: don't you think it would have came out? First of all,

992
00:50:16,880 --> 00:50:21,319
Speaker 8: if it was not my money, I get everybody how

993
00:50:21,400 --> 00:50:24,880
Speaker 8: much you need, and then every one of my cousins,

994
00:50:25,000 --> 00:50:28,200
Speaker 8: nephews and uncles would have been on that your pool, Gamon,

995
00:50:28,239 --> 00:50:31,800
Speaker 8: what you need? I got you, right, So first of

996
00:50:31,800 --> 00:50:36,879
Speaker 8: all that, Second of all, the picture is an hour

997
00:50:36,960 --> 00:50:40,640
Speaker 8: long average out. We don't know anything about the entrepreneurs

998
00:50:40,680 --> 00:50:44,000
Speaker 8: because somebody said, well, damon, you know how much you

999
00:50:44,080 --> 00:50:46,120
Speaker 8: know about them? If I knew about them, I wouldn't

1000
00:50:46,120 --> 00:50:47,680
Speaker 8: even tell them to come down the aisle because you

1001
00:50:47,719 --> 00:50:52,479
Speaker 8: wouldn't hear me say stuff like, hey, on your social media,

1002
00:50:52,520 --> 00:50:55,120
Speaker 8: you said some derogatory things six years ago about women

1003
00:50:55,320 --> 00:50:57,560
Speaker 8: or about veterans. Right, you don't hear that because I

1004
00:50:57,600 --> 00:51:00,880
Speaker 8: don't know anything. Right, we would have upper hand on

1005
00:51:01,040 --> 00:51:04,000
Speaker 8: these things. But again, then why do I even wait

1006
00:51:04,040 --> 00:51:05,400
Speaker 8: for you to come down out and say I'm out?

1007
00:51:05,560 --> 00:51:07,399
Speaker 8: Why would I even play you know what I mean?

1008
00:51:07,560 --> 00:51:11,399
Speaker 8: Or act right? So they're real and it's our all money.

1009
00:51:12,520 --> 00:51:14,560
Speaker 8: That's why, you know. So a lot of times people

1010
00:51:14,640 --> 00:51:19,239
Speaker 8: go so first of all, hour long, sixteen camera shooting it,

1011
00:51:19,719 --> 00:51:21,880
Speaker 8: sixteen hours of footage for you to say eight minutes,

1012
00:51:22,239 --> 00:51:25,480
Speaker 8: I've to have people go yode, Why would you give

1013
00:51:25,560 --> 00:51:30,160
Speaker 8: somebody ten seconds to decide on something so critical in

1014
00:51:30,280 --> 00:51:36,200
Speaker 8: their life. I've been offering you one hundred thousand dollars

1015
00:51:36,320 --> 00:51:38,759
Speaker 8: for thirty minutes. You're not looking at me and you

1016
00:51:39,000 --> 00:51:42,400
Speaker 8: want to kiss Mark Cuban's big, pasty white ass. Can

1017
00:51:42,480 --> 00:51:43,360
Speaker 8: you give me an answer?

1018
00:51:44,520 --> 00:51:48,600
Speaker 6: I'm out? You know?

1019
00:51:48,760 --> 00:51:51,680
Speaker 8: So it is just really gets and you see us

1020
00:51:51,760 --> 00:51:56,000
Speaker 8: sometimes have teeth in various ways. Because there have been

1021
00:51:56,040 --> 00:51:58,600
Speaker 8: people that have went off and paid all their bills

1022
00:51:58,680 --> 00:52:01,000
Speaker 8: and not put the money in the come or lied

1023
00:52:01,440 --> 00:52:04,480
Speaker 8: or like yo, man, I'm doing you. So we don't

1024
00:52:04,480 --> 00:52:06,520
Speaker 8: close the deals right there, we close about eighty percent

1025
00:52:06,520 --> 00:52:08,000
Speaker 8: of the deal. That takes us anywhere from six to

1026
00:52:08,080 --> 00:52:10,160
Speaker 8: nine months to close the deal. Sometimes like yo, why

1027
00:52:10,160 --> 00:52:11,719
Speaker 8: don't you tell me you, oh, the irs a million dollars?

1028
00:52:11,719 --> 00:52:15,000
Speaker 8: They'll be like, you ain't asked. I'm mad at that,

1029
00:52:15,600 --> 00:52:16,040
Speaker 8: you know what I mean.

1030
00:52:17,040 --> 00:52:17,440
Speaker 7: Yeah, So.

1031
00:52:19,480 --> 00:52:21,480
Speaker 8: We gotta bet it. We gotta bet these deals. And

1032
00:52:21,520 --> 00:52:24,799
Speaker 8: that's why you see sometimes the nastiness because we've been

1033
00:52:24,920 --> 00:52:29,080
Speaker 8: through it for fifteen years and there are a good

1034
00:52:29,120 --> 00:52:34,719
Speaker 8: amount of people who are either the green. I don't

1035
00:52:34,920 --> 00:52:37,360
Speaker 8: personally believe anybody's gotten up on there and said I

1036
00:52:37,640 --> 00:52:40,400
Speaker 8: want to lie and I want to steal. I do

1037
00:52:40,560 --> 00:52:45,160
Speaker 8: not believe in that. More importantly, though, the other side

1038
00:52:45,200 --> 00:52:47,080
Speaker 8: of it, man, we've seen so many people that have

1039
00:52:47,239 --> 00:52:50,360
Speaker 8: changed their lives and have educated empowered other people. I

1040
00:52:50,520 --> 00:52:52,160
Speaker 8: no longer have to come up with the biggest and

1041
00:52:52,200 --> 00:52:55,680
Speaker 8: best idea myself younger people, older people than me, that

1042
00:52:55,760 --> 00:52:57,520
Speaker 8: to solve and a problem, allow us to be part

1043
00:52:57,560 --> 00:52:59,160
Speaker 8: of their dream. But it is as real as it

1044
00:52:59,239 --> 00:53:02,600
Speaker 8: gets and that's why it's fifteen years in why it's

1045
00:53:02,640 --> 00:53:05,239
Speaker 8: so real and it's real and it's accurate in real time.

1046
00:53:05,320 --> 00:53:07,560
Speaker 8: If you go and look at it, you'll go that's

1047
00:53:07,600 --> 00:53:10,560
Speaker 8: when we're in a recession. That's when the COVID hit,

1048
00:53:10,719 --> 00:53:12,879
Speaker 8: Oh why is this year? They're talking about AI, they're

1049
00:53:12,880 --> 00:53:16,240
Speaker 8: talking about employee retention, they're talking about all their things

1050
00:53:16,400 --> 00:53:20,320
Speaker 8: and and and you see real time what's happening in

1051
00:53:20,360 --> 00:53:21,480
Speaker 8: the environments.

1052
00:53:21,000 --> 00:53:21,799
Speaker 3: Some of the best deals.

1053
00:53:21,960 --> 00:53:24,239
Speaker 4: But there's still a competitive piece to it, right, But

1054
00:53:24,520 --> 00:53:26,560
Speaker 4: I mean it's still a competitive piece. So like when

1055
00:53:26,600 --> 00:53:30,520
Speaker 4: you're competing against the other sharks. Yeah, and you're watching

1056
00:53:30,600 --> 00:53:33,200
Speaker 4: some of the successes and you know you passed on one.

1057
00:53:33,840 --> 00:53:35,600
Speaker 4: What is that like when you get back on sale?

1058
00:53:35,880 --> 00:53:38,160
Speaker 8: Well, first of all, on set itself, a lot of

1059
00:53:38,200 --> 00:53:40,440
Speaker 8: people go, are you kind of drumming it up?

1060
00:53:42,800 --> 00:53:42,880
Speaker 2: Now?

1061
00:53:43,040 --> 00:53:44,399
Speaker 8: If you go out and play if you go out

1062
00:53:44,440 --> 00:53:47,440
Speaker 8: and play football or basketball, your brother, you're gonna try

1063
00:53:47,440 --> 00:53:50,040
Speaker 8: to crack his head open, aren't you? Now put yourself

1064
00:53:50,120 --> 00:53:54,279
Speaker 8: in front of ten million people with with with two

1065
00:53:54,400 --> 00:53:58,240
Speaker 8: hundred thousand dollars at risk and ego, I'm going hard

1066
00:53:58,360 --> 00:54:01,640
Speaker 8: after Barbara to take a medicine. So it's pretty easy.

1067
00:54:01,719 --> 00:54:06,440
Speaker 8: I'm going hard after Kevin. Yeah know the scoreboard is real,

1068
00:54:07,760 --> 00:54:10,320
Speaker 8: and uh, anybody want to ask me who is the

1069
00:54:10,360 --> 00:54:13,799
Speaker 8: most successful investors in history? Well, I'm glad you asked.

1070
00:54:13,880 --> 00:54:18,880
Speaker 8: So you know, you know, there was a company that

1071
00:54:19,000 --> 00:54:23,560
Speaker 8: came on to the show. There's a company that came

1072
00:54:23,600 --> 00:54:27,520
Speaker 8: onto the show called Bamba Socks, and uh, they're going

1073
00:54:27,560 --> 00:54:30,680
Speaker 8: to hit him a little billion dollars this year in sales.

1074
00:54:30,880 --> 00:54:34,280
Speaker 8: More importantly, they've given a pair of socks and garments

1075
00:54:34,360 --> 00:54:37,200
Speaker 8: to homeless every time that they purchased it. Number one

1076
00:54:37,520 --> 00:54:42,960
Speaker 8: brand ever invested in Shark Tank history, and the one

1077
00:54:43,000 --> 00:54:46,600
Speaker 8: that got away is a company called ring Doorbell. So

1078
00:54:46,760 --> 00:54:49,400
Speaker 8: for one point three billion dollars. Now, the guy that

1079
00:54:49,520 --> 00:54:52,880
Speaker 8: came on, Jamie became a gift Shark says he was

1080
00:54:52,960 --> 00:54:54,719
Speaker 8: asking too much when he came on the show. And

1081
00:54:54,760 --> 00:54:57,920
Speaker 8: he says he understands while we passed, I think you

1082
00:54:58,000 --> 00:55:01,640
Speaker 8: need five percent because after me, after we tenderized him

1083
00:55:01,680 --> 00:55:03,640
Speaker 8: so gently, he went out to the market and raised

1084
00:55:03,640 --> 00:55:08,520
Speaker 8: the money, but he reduced his ask. However, everybody asked

1085
00:55:08,520 --> 00:55:11,080
Speaker 8: me off and do I ever regret? I normally don't

1086
00:55:11,080 --> 00:55:13,160
Speaker 8: regret anything. The only time I do regret something is

1087
00:55:13,280 --> 00:55:17,160
Speaker 8: there was a company that I went after to, you know,

1088
00:55:17,680 --> 00:55:19,200
Speaker 8: to try to bid off of, and I lost it.

1089
00:55:19,920 --> 00:55:22,640
Speaker 8: And it's the second best selling company in Shark Tank history.

1090
00:55:22,640 --> 00:55:26,440
Speaker 8: And it is a stupid ass looking little sponge. It

1091
00:55:26,560 --> 00:55:29,520
Speaker 8: has a smiley face on it. It's called the scrub Daddy.

1092
00:55:30,480 --> 00:55:32,920
Speaker 8: Laurie invested into that thing, and I think she's probably

1093
00:55:32,920 --> 00:55:35,400
Speaker 8: done five hundred million dollars. And not only did she

1094
00:55:35,440 --> 00:55:36,920
Speaker 8: do five undre minute now, but every time I walk

1095
00:55:36,960 --> 00:55:38,839
Speaker 8: into the grocery store or something, what do you think

1096
00:55:38,920 --> 00:55:43,520
Speaker 8: smiling at me? And I'm gonna tell you, I'm gonna

1097
00:55:43,560 --> 00:55:47,840
Speaker 8: keep it one hundred. Laurie has twelve all the top

1098
00:55:48,200 --> 00:55:51,840
Speaker 8: twenty best selling products in shark Tank history. Remember she

1099
00:55:52,080 --> 00:55:54,200
Speaker 8: was doing this before she was doing Shark Tank. She

1100
00:55:54,320 --> 00:55:58,279
Speaker 8: was finding great businesses. She put them on QBC. She

1101
00:55:58,440 --> 00:56:02,800
Speaker 8: knows her customer, so play and under and under fifty dollars,

1102
00:56:02,880 --> 00:56:05,880
Speaker 8: she's slaying it like crack. She is the best when

1103
00:56:05,960 --> 00:56:09,520
Speaker 8: it comes to consumer package goods on Shark Tank, and

1104
00:56:09,640 --> 00:56:11,840
Speaker 8: she knows how to market is so so it is

1105
00:56:12,120 --> 00:56:13,560
Speaker 8: very very competitive.

1106
00:56:14,080 --> 00:56:16,799
Speaker 5: So let's talk about the sock situation then, since that's

1107
00:56:16,880 --> 00:56:18,840
Speaker 5: the real life example of a company that worked.

1108
00:56:20,120 --> 00:56:22,240
Speaker 3: That's the number one in Shark Tank.

1109
00:56:22,160 --> 00:56:23,840
Speaker 8: History in invested in.

1110
00:56:23,960 --> 00:56:25,879
Speaker 3: Yes, So can you talk about the deal?

1111
00:56:26,120 --> 00:56:26,439
Speaker 8: I don't.

1112
00:56:26,680 --> 00:56:28,680
Speaker 3: I don't know if people actually watched that episode, like

1113
00:56:28,719 --> 00:56:31,239
Speaker 3: what was the ass? What did you agree to? And

1114
00:56:31,360 --> 00:56:33,440
Speaker 3: how is that company able to scale to where it

1115
00:56:33,560 --> 00:56:35,040
Speaker 3: is now? So I thank you.

1116
00:56:35,160 --> 00:56:38,959
Speaker 8: I can't necessarily talk about the agree to, right, because

1117
00:56:38,960 --> 00:56:41,880
Speaker 8: some of these things fluctuate because and that's that's the

1118
00:56:41,960 --> 00:56:43,480
Speaker 8: big story they try to put out. And then you

1119
00:56:43,640 --> 00:56:48,520
Speaker 8: do you realize that the deal don't close exactly like

1120
00:56:48,680 --> 00:56:54,799
Speaker 8: they do on TV. No shit, the Sharks actually negotiate

1121
00:56:55,080 --> 00:56:57,279
Speaker 8: when they go through due diligence. Do you ever go

1122
00:56:57,360 --> 00:56:58,879
Speaker 8: to a house and be like, yeah, I like the house,

1123
00:56:59,120 --> 00:57:01,399
Speaker 8: I mean you for it. Let me check it out.

1124
00:57:01,480 --> 00:57:03,480
Speaker 8: Oh the boilers broke, I'm going to give you four

1125
00:57:03,560 --> 00:57:07,640
Speaker 8: hundred thousand. No, you figure it out, right. So the

1126
00:57:07,760 --> 00:57:10,080
Speaker 8: deal I think I'm not sure how much it was,

1127
00:57:10,640 --> 00:57:14,239
Speaker 8: but it was. I think I said I on a show.

1128
00:57:14,320 --> 00:57:17,320
Speaker 8: I think I did seventeen point five percent or nineteen

1129
00:57:17,440 --> 00:57:19,680
Speaker 8: or something like that. They will only do in eight

1130
00:57:19,800 --> 00:57:22,280
Speaker 8: hundred thousand. That's the important part. But I think what

1131
00:57:22,400 --> 00:57:24,640
Speaker 8: I can take away from that is that if you

1132
00:57:24,680 --> 00:57:26,120
Speaker 8: look at why I got into the show. When you're

1133
00:57:26,640 --> 00:57:30,080
Speaker 8: looking at a target to invest in, you should understand

1134
00:57:30,120 --> 00:57:31,919
Speaker 8: why they want to be in it. You know, into

1135
00:57:32,000 --> 00:57:34,600
Speaker 8: the investment. These guys go on the show. They knew

1136
00:57:34,680 --> 00:57:37,560
Speaker 8: that the last thing I wanted was to invest in

1137
00:57:37,600 --> 00:57:40,640
Speaker 8: clothing companies. I went onto the show because in O eight,

1138
00:57:40,680 --> 00:57:44,080
Speaker 8: when nobody can buy, when nobody has money, nobody's buying

1139
00:57:44,120 --> 00:57:47,920
Speaker 8: more clothes if they can't pay their mortgage. I have

1140
00:57:48,080 --> 00:57:49,760
Speaker 8: ten clothing company I just told you about all them.

1141
00:57:49,800 --> 00:57:52,439
Speaker 8: Eight of them were dead. The last thing I wanted

1142
00:57:52,560 --> 00:57:55,680
Speaker 8: was more clothing coming because I want to diversify my portfolio.

1143
00:57:55,680 --> 00:57:57,400
Speaker 8: I want to go to Mason and say, hey, I

1144
00:57:57,480 --> 00:58:01,200
Speaker 8: got Young Men's But can I say you cosmetics? Can

1145
00:58:01,240 --> 00:58:03,240
Speaker 8: I sell you electronics? And I was only, like I

1146
00:58:03,280 --> 00:58:05,640
Speaker 8: said in the beginning, I was only getting pitched clothing

1147
00:58:05,720 --> 00:58:07,440
Speaker 8: companies being put in a box. So I want to

1148
00:58:07,440 --> 00:58:09,400
Speaker 8: go on the show to diversify my portfolio. The last

1149
00:58:09,440 --> 00:58:12,920
Speaker 8: thing I want with socks. However, social media started to

1150
00:58:13,040 --> 00:58:15,680
Speaker 8: really turn and we started to convert online. So they

1151
00:58:15,720 --> 00:58:19,120
Speaker 8: were like, I know Damon doesn't like it. He likes clothes,

1152
00:58:19,160 --> 00:58:23,000
Speaker 8: but he also likes philanthropy, and he doesn't know he's

1153
00:58:23,080 --> 00:58:25,840
Speaker 8: dependent on the retailers. We're going to show him how

1154
00:58:26,000 --> 00:58:29,040
Speaker 8: to give at the same time and talk directly to

1155
00:58:29,120 --> 00:58:31,920
Speaker 8: his customer. Because now Damien makes it a ten, sells

1156
00:58:31,920 --> 00:58:34,040
Speaker 8: it hisself for twenty, they sell for forty. I'm gonna

1157
00:58:34,040 --> 00:58:35,880
Speaker 8: show Damon how to make of a ten sell it

1158
00:58:35,920 --> 00:58:39,120
Speaker 8: for forty. So they kind of wag the dog. There

1159
00:58:39,200 --> 00:58:40,640
Speaker 8: was a last thing I want to see and I

1160
00:58:40,760 --> 00:58:42,240
Speaker 8: think that that's the great thing a lot of people

1161
00:58:42,280 --> 00:58:47,040
Speaker 8: can learn from. You can find other ways to extract

1162
00:58:47,320 --> 00:58:51,840
Speaker 8: informational value to somebody you're pitching. And that's what happened,

1163
00:58:52,920 --> 00:58:58,160
Speaker 8: and they scale because again the changing of times. When Food,

1164
00:58:58,320 --> 00:59:01,040
Speaker 8: when we gave away millions of dollars in the nineties,

1165
00:59:01,160 --> 00:59:03,600
Speaker 8: we never advertised a market it because we were like,

1166
00:59:04,720 --> 00:59:07,320
Speaker 8: it's like making the it's like making money of the

1167
00:59:07,440 --> 00:59:10,040
Speaker 8: hardship of people. Like, what are we going to do? Right?

1168
00:59:10,480 --> 00:59:13,880
Speaker 8: There wasn't social media, and then we had a big backlash.

1169
00:59:13,960 --> 00:59:17,160
Speaker 8: Food done support African American Then we had already done.

1170
00:59:17,200 --> 00:59:20,640
Speaker 8: We were building you know, a basketball courts and whatever.

1171
00:59:21,200 --> 00:59:24,520
Speaker 8: But now with social media, people want to know what

1172
00:59:24,680 --> 00:59:27,000
Speaker 8: did you do for somebody? There's layers you don't have

1173
00:59:27,080 --> 00:59:30,840
Speaker 8: to advertise it. There's user generated content as we call it, like, hey,

1174
00:59:31,000 --> 00:59:33,800
Speaker 8: I just got something from this company, thank you. And

1175
00:59:34,280 --> 00:59:36,720
Speaker 8: so now when people buy bombed socks, like I'll give

1176
00:59:36,760 --> 00:59:38,360
Speaker 8: you example, I'll talk to my daughter working at a

1177
00:59:38,360 --> 00:59:40,520
Speaker 8: pizza bauler. I'll say, hey, I gave it the end

1178
00:59:40,560 --> 00:59:42,400
Speaker 8: of the year, all these chateral on the days she said,

1179
00:59:42,480 --> 00:59:45,040
Speaker 8: and yeah, I give twenty times your honey, we're only

1180
00:59:45,120 --> 00:59:47,040
Speaker 8: three months into the year. I know. But daddy, and

1181
00:59:47,120 --> 00:59:48,760
Speaker 8: you only worked the pizza ball. Daddy, every time I

1182
00:59:48,800 --> 00:59:50,840
Speaker 8: bought this, I helped clean up the ocean. Every time

1183
00:59:50,880 --> 00:59:53,080
Speaker 8: I bought this, I stopped human trafficking. And every time

1184
00:59:53,080 --> 00:59:56,560
Speaker 8: I bought this, somebody in need got another pair of socks.

1185
00:59:57,080 --> 00:59:58,840
Speaker 8: And by the way, I'm giving it to you for Christmas,

1186
00:59:58,920 --> 01:00:00,880
Speaker 8: ten pairs and you're giving the ten people, just so

1187
01:00:01,040 --> 01:00:03,600
Speaker 8: you know. And mass the way Bamba's has really been

1188
01:00:03,920 --> 01:00:09,000
Speaker 8: effective and their hands on they're in they're in the shelters,

1189
01:00:09,160 --> 01:00:13,280
Speaker 8: they know everybody. They're not just dumping off boxes. They

1190
01:00:13,440 --> 01:00:16,680
Speaker 8: really are in there, and we are in there. I

1191
01:00:16,760 --> 01:00:18,760
Speaker 8: have the joy of going once in a while. They

1192
01:00:18,840 --> 01:00:22,160
Speaker 8: go all the time. So that's why they's successful. They're

1193
01:00:22,200 --> 01:00:23,160
Speaker 8: really about what they do.

1194
01:00:23,400 --> 01:00:26,800
Speaker 4: You know, after fifteen years of the show, I wonder

1195
01:00:26,920 --> 01:00:31,800
Speaker 4: do you are you learning from your fellow sharks and

1196
01:00:32,120 --> 01:00:34,240
Speaker 4: from the contestants will come Because you talk about in

1197
01:00:34,320 --> 01:00:37,320
Speaker 4: powership these three things that the help power, right, you

1198
01:00:37,400 --> 01:00:41,560
Speaker 4: talk about nurturing relationships, you talk about influence, and you

1199
01:00:41,720 --> 01:00:46,240
Speaker 4: talk about the last one was influence. So the influences

1200
01:00:46,320 --> 01:00:48,000
Speaker 4: obviously the people around you. So I wonder what that

1201
01:00:48,080 --> 01:00:51,720
Speaker 4: relationships like as you continuously be on the show Nekotia

1202
01:00:51,720 --> 01:00:55,720
Speaker 4: and we can see that happening. But the nurturing, because yes,

1203
01:00:55,760 --> 01:00:59,680
Speaker 4: the competitiveness from your counterparts on the show, but also

1204
01:01:00,120 --> 01:01:02,720
Speaker 4: the relationship that you're going into business with people with.

1205
01:01:03,280 --> 01:01:04,840
Speaker 8: How do you how do you naviget to the man.

1206
01:01:04,840 --> 01:01:07,320
Speaker 8: I'm learning from everybody. Every I mean, even if it's

1207
01:01:07,320 --> 01:01:10,240
Speaker 8: a mistake, I'm learning. But I'm really learning from everybody.

1208
01:01:10,240 --> 01:01:12,000
Speaker 8: You know, a lot of people say, Davey, you know

1209
01:01:12,080 --> 01:01:14,360
Speaker 8: you're the sneaking grass. You're so quiet on the show. No,

1210
01:01:14,520 --> 01:01:17,640
Speaker 8: I'm just not that bright. So I'm sitting there, I'm

1211
01:01:17,680 --> 01:01:19,280
Speaker 8: listening to something. I'm like, oh, yeah, I'm gonna get

1212
01:01:19,280 --> 01:01:21,200
Speaker 8: into that. I just wait till my shot. You know

1213
01:01:21,240 --> 01:01:24,200
Speaker 8: what I'm saying, Like double dust, Yeah, you're gonna rock

1214
01:01:24,320 --> 01:01:26,440
Speaker 8: thish way. Oh I'm about to put a bit in it.

1215
01:01:27,400 --> 01:01:29,280
Speaker 8: And Robert said some crazy shit, and I'd be like,

1216
01:01:31,040 --> 01:01:35,120
Speaker 8: oh yeah, yeah yeah, And for that reason, I'm out.

1217
01:01:36,080 --> 01:01:38,720
Speaker 8: So I'm learning from everybody, you know what I'm saying.

1218
01:01:38,840 --> 01:01:42,160
Speaker 8: And then those these people are coming on, you know,

1219
01:01:42,240 --> 01:01:46,040
Speaker 8: they're coming on solving problems that are so simple, so complicated.

1220
01:01:46,160 --> 01:01:47,600
Speaker 8: You're learning. You know what I learned the other day,

1221
01:01:48,680 --> 01:01:52,800
Speaker 8: I'm listening. You like vanilla, natural vanilla extract, you know,

1222
01:01:52,920 --> 01:01:55,200
Speaker 8: you like things of You know what natural vanilla extract is.

1223
01:01:57,400 --> 01:01:59,840
Speaker 8: It's the juice that comes out of a beaver's ass.

1224
01:02:02,440 --> 01:02:04,160
Speaker 8: You think about some soft serve right now, I got it,

1225
01:02:04,200 --> 01:02:07,840
Speaker 8: But now it is the glands in a beaver's ass.

1226
01:02:08,680 --> 01:02:13,080
Speaker 3: It's not vanilla from a vanilla vanilla, vanilla bean bean.

1227
01:02:13,120 --> 01:02:18,480
Speaker 8: It's natural vanilla extract is the glands they excrete something

1228
01:02:20,320 --> 01:02:21,560
Speaker 8: from a beaver's ass.

1229
01:02:24,600 --> 01:02:26,520
Speaker 3: Learn something new every day I'm out.

1230
01:02:28,920 --> 01:02:33,000
Speaker 8: You see how much I learned. That's crazy, isn't it nuts.

1231
01:02:34,240 --> 01:02:36,240
Speaker 8: I learned all these things from the show. I learned

1232
01:02:36,400 --> 01:02:40,480
Speaker 8: so much from the show. Now, that's pretty disgusting, isn't it. Yeah?

1233
01:02:41,320 --> 01:02:42,120
Speaker 3: Pretty Yeah?

1234
01:02:43,880 --> 01:02:47,320
Speaker 8: Yeah, you know I hate these quiet moments.

1235
01:02:49,720 --> 01:02:52,760
Speaker 3: Well, there you have it. So let's switch topic. Let's

1236
01:02:52,760 --> 01:02:53,920
Speaker 3: talk about literature.

1237
01:02:54,120 --> 01:02:57,240
Speaker 5: So you have a children's book, yes, right, ah man,

1238
01:02:57,480 --> 01:03:00,240
Speaker 5: what made you want to become an all author?

1239
01:03:00,440 --> 01:03:02,360
Speaker 3: In that realm? Thank you?

1240
01:03:04,040 --> 01:03:06,920
Speaker 8: Is lear? Anybody my staff said it? I said, what

1241
01:03:07,000 --> 01:03:08,320
Speaker 8: are you talking about? And they were like, well, they

1242
01:03:08,400 --> 01:03:12,160
Speaker 8: mean you know. I Thank God. I have many top

1243
01:03:12,280 --> 01:03:15,400
Speaker 8: selling books. But these books are thick, right, and I

1244
01:03:15,440 --> 01:03:18,960
Speaker 8: don't like writing them necessarily. I write them because every

1245
01:03:19,000 --> 01:03:21,000
Speaker 8: time I hear somebody have a problem, I write down, go, okay,

1246
01:03:21,080 --> 01:03:23,280
Speaker 8: well go to Tim Ferriss, go to Tony Robins, go

1247
01:03:23,400 --> 01:03:23,960
Speaker 8: check out my book.

1248
01:03:24,000 --> 01:03:24,200
Speaker 3: Whatever.

1249
01:03:24,240 --> 01:03:25,640
Speaker 8: Okay. If I don't have an answer for it, I

1250
01:03:25,680 --> 01:03:28,200
Speaker 8: write it. And then after about two years ago, wow,

1251
01:03:28,480 --> 01:03:31,440
Speaker 8: this book needs to be written. But what I realized

1252
01:03:31,800 --> 01:03:33,880
Speaker 8: is we in this country. You see Mark Cuban, as

1253
01:03:33,920 --> 01:03:36,640
Speaker 8: you all know, taking on this a very big challenge

1254
01:03:36,680 --> 01:03:41,200
Speaker 8: of breaking the this uh pharma uh pharmaceutical challenge right

1255
01:03:41,240 --> 01:03:44,760
Speaker 8: and giving our and giving access to drugs at affordable prices.

1256
01:03:44,840 --> 01:03:47,400
Speaker 8: And he's got a big challenge ahead of them. But

1257
01:03:47,440 --> 01:03:51,160
Speaker 8: it's called cost plus drugs. It's the stupidest name I've

1258
01:03:51,200 --> 01:03:56,040
Speaker 8: ever heard. Because when people say cost plus doesn't that

1259
01:03:56,160 --> 01:03:59,600
Speaker 8: sound like a lot? Okay, So as a business person,

1260
01:03:59,760 --> 01:04:03,919
Speaker 8: what cost is is at cost, meaning it is wholesale.

1261
01:04:04,800 --> 01:04:07,640
Speaker 8: Plus he puts a little ten percent on. So if

1262
01:04:07,720 --> 01:04:11,120
Speaker 8: the pill is one hundred dollars, he buys the pill

1263
01:04:11,200 --> 01:04:13,440
Speaker 8: for five and maybe puts a little bit on for

1264
01:04:14,320 --> 01:04:17,200
Speaker 8: his staff and sells it two dollars and sells it

1265
01:04:17,280 --> 01:04:20,720
Speaker 8: at seven. That's what it really is, and he's changing

1266
01:04:20,800 --> 01:04:23,440
Speaker 8: the world with it. I have a bigger issue that's

1267
01:04:23,480 --> 01:04:27,560
Speaker 8: easier to solve this country. We never have financial intelligence.

1268
01:04:28,360 --> 01:04:32,000
Speaker 8: We're going off a very old school system. Eighty years ago.

1269
01:04:32,200 --> 01:04:34,480
Speaker 8: This is the same school system we were at war

1270
01:04:34,720 --> 01:04:37,840
Speaker 8: and we were teaching people how to build ships, being

1271
01:04:37,920 --> 01:04:41,600
Speaker 8: great employees and it was a great time. That's why

1272
01:04:41,640 --> 01:04:44,240
Speaker 8: they have shop and all those other various things. But

1273
01:04:44,400 --> 01:04:47,919
Speaker 8: we were never taught financial intelligence. We can be taught

1274
01:04:47,960 --> 01:04:51,760
Speaker 8: anything else in school, and especially as African Americans, we

1275
01:04:51,880 --> 01:04:54,240
Speaker 8: don't come from legacy wealth, so we probably don't have

1276
01:04:54,400 --> 01:04:57,120
Speaker 8: a grandfather, grandmother, or whatever the case is to teach

1277
01:04:57,200 --> 01:05:01,640
Speaker 8: us this. And the statu is that kid graduating college

1278
01:05:01,680 --> 01:05:04,240
Speaker 8: to day, fifty percent of them will retire with a

1279
01:05:04,360 --> 01:05:08,000
Speaker 8: job title that doesn't exist today. It's like telling somebody

1280
01:05:08,040 --> 01:05:09,720
Speaker 8: twenty years ago, will you're going to be a social

1281
01:05:09,760 --> 01:05:12,080
Speaker 8: media expert or a professional gamer, or a pay per

1282
01:05:12,160 --> 01:05:15,040
Speaker 8: click expert, or whatever case is, an AI expert. So

1283
01:05:15,120 --> 01:05:17,520
Speaker 8: if you don't have any financial intelligence and you're not

1284
01:05:17,720 --> 01:05:19,760
Speaker 8: taught it at the age of six, seven, eight, nine, ten,

1285
01:05:19,840 --> 01:05:21,400
Speaker 8: the same way you're taught a sport, the same way

1286
01:05:21,440 --> 01:05:24,240
Speaker 8: you're taught an instrument, Well, then at seventeen years old,

1287
01:05:24,280 --> 01:05:26,760
Speaker 8: you can acquire seven hundred thousand dollars worth of student

1288
01:05:26,960 --> 01:05:29,600
Speaker 8: debt for a career you're not even certain you want

1289
01:05:29,640 --> 01:05:31,240
Speaker 8: to have it. You won't pay off until you're in

1290
01:05:31,320 --> 01:05:37,680
Speaker 8: your fifties. When you don't have finance and money, well,

1291
01:05:37,760 --> 01:05:41,680
Speaker 8: what happens. Domestic violence rises If you don't have money

1292
01:05:41,720 --> 01:05:44,680
Speaker 8: and you don't know how financial intelligence works. Well, if

1293
01:05:44,760 --> 01:05:48,400
Speaker 8: you don't have access to a job, well somebody will say,

1294
01:05:48,440 --> 01:05:50,480
Speaker 8: I don't care if you have excess job. I'll give

1295
01:05:50,520 --> 01:05:53,080
Speaker 8: you one hundred I'll give you five hundred dollars. Stand

1296
01:05:53,160 --> 01:05:57,320
Speaker 8: on this corner where this color right. You can't eat healthy?

1297
01:05:58,280 --> 01:06:01,800
Speaker 8: Eating healthy is expensive. So what's the most profitable things

1298
01:06:01,840 --> 01:06:04,200
Speaker 8: in this country to sell? They're made out of butter, sugar,

1299
01:06:04,240 --> 01:06:08,320
Speaker 8: and salt. Now all of a sudden, you have health issues.

1300
01:06:08,920 --> 01:06:12,160
Speaker 8: You have health issues, and you're not even covered. The

1301
01:06:12,400 --> 01:06:15,040
Speaker 8: root of what's going on in this country is our

1302
01:06:15,240 --> 01:06:17,840
Speaker 8: children not taught financial intelligence. And I have one hundred

1303
01:06:17,840 --> 01:06:21,640
Speaker 8: and fifty teachers that are my advisors, and they don't

1304
01:06:21,720 --> 01:06:24,800
Speaker 8: have financial intelligence because they would never taught it. They

1305
01:06:24,840 --> 01:06:28,280
Speaker 8: will tell you everything about social studies, everything about math,

1306
01:06:28,680 --> 01:06:32,520
Speaker 8: everything about science, but they weren't taught it because again, right,

1307
01:06:32,560 --> 01:06:34,720
Speaker 8: so when you taught it at nineteen years old, if

1308
01:06:34,720 --> 01:06:38,160
Speaker 8: you take accounting, well, you go to war and they

1309
01:06:38,200 --> 01:06:39,480
Speaker 8: put you in a battleship and they teach how to

1310
01:06:39,520 --> 01:06:42,080
Speaker 8: swim when you're in middle of the ocean. You're supposed

1311
01:06:42,120 --> 01:06:45,120
Speaker 8: to learn this stuff earlier on. And that's why I

1312
01:06:45,240 --> 01:06:47,840
Speaker 8: want to break this system. And this is what I'm

1313
01:06:47,880 --> 01:06:51,280
Speaker 8: going to go to my grave with. By breaking this system.

1314
01:06:51,360 --> 01:06:54,200
Speaker 8: That's not a conspiracy, it's just we have to think

1315
01:06:54,280 --> 01:06:57,720
Speaker 8: about it. So if we learn at the earlier age

1316
01:06:57,840 --> 01:07:00,800
Speaker 8: how to operate money, it's very simple, not operate money.

1317
01:07:01,160 --> 01:07:04,520
Speaker 8: Three dollars, three million, three billion come in. Three dollars

1318
01:07:04,600 --> 01:07:06,600
Speaker 8: comes in. The first dollar goals to what you have

1319
01:07:06,720 --> 01:07:08,880
Speaker 8: to pay for your rent or medicine order off cases.

1320
01:07:08,880 --> 01:07:11,320
Speaker 8: The second goals for an investment, whether in a public

1321
01:07:11,360 --> 01:07:14,840
Speaker 8: company or your or your education, but not alone what

1322
01:07:15,000 --> 01:07:17,040
Speaker 8: you have right there. And the third goals for what

1323
01:07:17,200 --> 01:07:18,800
Speaker 8: you would like to have but don't have to have.

1324
01:07:19,520 --> 01:07:21,520
Speaker 8: If you don't spend all the number three, you put

1325
01:07:21,560 --> 01:07:26,280
Speaker 8: it into number two. Right, Number two eventually overflows into

1326
01:07:26,400 --> 01:07:30,160
Speaker 8: one in three. But as hard working Americans, what do

1327
01:07:30,240 --> 01:07:32,880
Speaker 8: we do. We're going to number three first because we

1328
01:07:32,920 --> 01:07:35,080
Speaker 8: want to treat ourselves. We worked really hard. We never

1329
01:07:35,160 --> 01:07:37,680
Speaker 8: get to number two, and then we pay eighteen percent

1330
01:07:37,800 --> 01:07:42,120
Speaker 8: credit card on number one. We corrode it from the bottom.

1331
01:07:43,160 --> 01:07:44,760
Speaker 8: If you just put away one hundred dollars, if you

1332
01:07:44,880 --> 01:07:47,920
Speaker 8: say automatic debit one hundred dollars every single month out

1333
01:07:47,960 --> 01:07:50,840
Speaker 8: of your check when you're eighteen up to sixty, that's

1334
01:07:50,880 --> 01:07:56,040
Speaker 8: a one plan thing four million dollars. Right. What about

1335
01:07:56,080 --> 01:07:58,400
Speaker 8: long term care? Long term care? If you're listening to

1336
01:07:58,480 --> 01:08:01,320
Speaker 8: me right now, If you are, are, you know we're

1337
01:08:01,360 --> 01:08:02,960
Speaker 8: going to take care of our parents two times long,

1338
01:08:03,000 --> 01:08:05,160
Speaker 8: and they took care of us. If you are right now,

1339
01:08:05,280 --> 01:08:07,520
Speaker 8: thirty or fifty, under fifty years old, you could probably

1340
01:08:07,560 --> 01:08:11,280
Speaker 8: get a long term care policy at probably maybe fifty

1341
01:08:11,360 --> 01:08:14,720
Speaker 8: dollars a month because by the time you're sixty seventy

1342
01:08:14,800 --> 01:08:17,880
Speaker 8: years old, God forbid, you have dementia and all these

1343
01:08:17,880 --> 01:08:19,400
Speaker 8: other things that are growing, and you have to get

1344
01:08:19,439 --> 01:08:23,000
Speaker 8: long term care. It costs an average for you or

1345
01:08:23,080 --> 01:08:25,479
Speaker 8: your parents, It costs an average of twenty thousand dollars

1346
01:08:25,560 --> 01:08:29,360
Speaker 8: a month to get a decent amount of long term care.

1347
01:08:29,640 --> 01:08:31,439
Speaker 8: So imagine if you had three million dollars with the

1348
01:08:31,479 --> 01:08:34,400
Speaker 8: bank and both your parents have to go and or

1349
01:08:34,439 --> 01:08:36,840
Speaker 8: you're on whoever has to go into long term care

1350
01:08:36,960 --> 01:08:41,559
Speaker 8: for three years, your money's gone. This is all about

1351
01:08:41,560 --> 01:08:45,720
Speaker 8: having financial intelligence, and those long term care policies could

1352
01:08:45,720 --> 01:08:46,280
Speaker 8: be annuities.

1353
01:08:47,880 --> 01:08:51,240
Speaker 6: True. Yeah, I mean we're on a similar mission. I know.

1354
01:08:51,680 --> 01:08:54,479
Speaker 6: Something that you're also passionate about is Entrepreneur's Day.

1355
01:08:54,960 --> 01:08:56,800
Speaker 8: Yeah, Black entreperneuvers Day.

1356
01:08:56,840 --> 01:08:58,080
Speaker 6: Yeah, that's that's a little bit.

1357
01:09:00,000 --> 01:09:01,320
Speaker 8: I don't know. Other day. I was sitting around in

1358
01:09:01,360 --> 01:09:05,200
Speaker 8: twenty twenty, like most of us, I was watching I

1359
01:09:05,320 --> 01:09:07,679
Speaker 8: was watching the TV and these kids were burning buildings

1360
01:09:07,680 --> 01:09:11,920
Speaker 8: instead of burning businesses, instead of building businesses. And I said,

1361
01:09:12,360 --> 01:09:15,040
Speaker 8: I was there in nineteen ninety two and or whenever.

1362
01:09:15,080 --> 01:09:17,080
Speaker 8: That was when Ronnie King was choked, and I wanted

1363
01:09:17,120 --> 01:09:19,320
Speaker 8: to go out there and burn businesses too. But I

1364
01:09:19,439 --> 01:09:22,080
Speaker 8: realized that empowering myself was the only way I was

1365
01:09:22,120 --> 01:09:25,400
Speaker 8: going to get out of this situation and make other

1366
01:09:25,439 --> 01:09:27,479
Speaker 8: people respect me. I got to find a way to

1367
01:09:27,720 --> 01:09:31,200
Speaker 8: ban us together. And so I was feeling helpless like

1368
01:09:31,280 --> 01:09:33,639
Speaker 8: most people when I was watching TV and our government

1369
01:09:33,800 --> 01:09:35,599
Speaker 8: was not stepping up, and I was seeing a lot

1370
01:09:35,640 --> 01:09:38,200
Speaker 8: of things, and I said, you know what, what is

1371
01:09:38,280 --> 01:09:39,040
Speaker 8: a true entrepreneur?

1372
01:09:39,080 --> 01:09:39,120
Speaker 2: Do?

1373
01:09:39,240 --> 01:09:44,120
Speaker 8: Let me call my assets, Let me call brands. I know, hey,

1374
01:09:44,240 --> 01:09:46,280
Speaker 8: guys who wants to get together and create something to

1375
01:09:46,520 --> 01:09:49,000
Speaker 8: give away money to people in need during this time.

1376
01:09:49,360 --> 01:09:51,000
Speaker 8: Let me call all the celebrities and let me call

1377
01:09:51,000 --> 01:09:54,639
Speaker 8: Shaquille O'Neil and Bob Johnson, iced T and ll cool

1378
01:09:54,760 --> 01:09:58,439
Speaker 8: J and talk about how the times we have failed

1379
01:09:58,680 --> 01:10:01,720
Speaker 8: and overcame it and we were in that same frustrating

1380
01:10:01,840 --> 01:10:05,360
Speaker 8: space in our lives. I did it online. Next thing,

1381
01:10:05,400 --> 01:10:07,799
Speaker 8: you know, I give away two hundred and fifty thousand

1382
01:10:07,840 --> 01:10:11,040
Speaker 8: dollars grants. Give it away to a bunch of businesses.

1383
01:10:11,640 --> 01:10:15,160
Speaker 8: I have people on the Marquee like shopifying the General

1384
01:10:15,320 --> 01:10:18,759
Speaker 8: and Chase saying we're standing by with this man about

1385
01:10:18,880 --> 01:10:21,040
Speaker 8: empowering African American. Next thing, you know, I do it

1386
01:10:21,080 --> 01:10:23,639
Speaker 8: to the Apollo next year, the next year. Now I'm

1387
01:10:23,680 --> 01:10:26,040
Speaker 8: on my fourth year. I've given away almost a million

1388
01:10:26,160 --> 01:10:30,760
Speaker 8: dollars to black businesses, a bunch of black businesses that

1389
01:10:30,760 --> 01:10:35,080
Speaker 8: have applied for these grants. It's free money. I'm now

1390
01:10:35,080 --> 01:10:37,160
Speaker 8: at the Apollo Theater and I do it every single year.

1391
01:10:38,000 --> 01:10:40,679
Speaker 8: Went from I went from you know, watching The Sandman

1392
01:10:40,800 --> 01:10:43,000
Speaker 8: and all those guys on the Pollo Theater in the

1393
01:10:43,120 --> 01:10:46,679
Speaker 8: seventies and eighties, and then standing outside with my little

1394
01:10:46,760 --> 01:10:49,120
Speaker 8: table and my hats and my partners trying to sell

1395
01:10:49,160 --> 01:10:51,640
Speaker 8: stuff in the nineties, to getting a seat in it

1396
01:10:51,800 --> 01:10:54,080
Speaker 8: maybe in two thousands, and now booking it out for

1397
01:10:54,200 --> 01:10:58,400
Speaker 8: the for two full days to give away money to

1398
01:10:58,600 --> 01:11:01,920
Speaker 8: African Americans who hopefully, because of now social media and

1399
01:11:01,960 --> 01:11:04,120
Speaker 8: all this stuff, they're businesses. They can hit a billion people.

1400
01:11:04,800 --> 01:11:06,599
Speaker 8: They're going to be bigger and better than damer John

1401
01:11:06,640 --> 01:11:10,160
Speaker 8: Ever was right, and you know, and this is something

1402
01:11:10,200 --> 01:11:14,479
Speaker 8: I do every year, and unfortunately, money, money's drying up.

1403
01:11:15,360 --> 01:11:18,440
Speaker 8: My sponsors all staying by me, my Chase, my shopify,

1404
01:11:18,600 --> 01:11:21,680
Speaker 8: you know, my my lows, you know, and the ones

1405
01:11:21,720 --> 01:11:23,320
Speaker 8: who did but most of these are the ones who

1406
01:11:23,360 --> 01:11:27,560
Speaker 8: were like yo, yeah, yeah, we have this initiative and

1407
01:11:27,760 --> 01:11:32,639
Speaker 8: all that, they ain't messing us no more. Wait till

1408
01:11:32,720 --> 01:11:36,160
Speaker 8: the next time somebody catches it on film. You know

1409
01:11:36,200 --> 01:11:38,519
Speaker 8: what happened every night. The next time is on film,

1410
01:11:38,520 --> 01:11:40,120
Speaker 8: they're gonna be like, oh yo dde, what's happening?

1411
01:11:41,240 --> 01:11:41,439
Speaker 3: Huh?

1412
01:11:42,000 --> 01:11:42,880
Speaker 6: We still got that thing? You would?

1413
01:11:43,080 --> 01:11:45,880
Speaker 8: Yeah, yeah, what about that black How you doing out there?

1414
01:11:46,000 --> 01:11:48,519
Speaker 8: But the ones who stick by me is sticking buy me?

1415
01:11:48,680 --> 01:11:51,680
Speaker 8: The one, you know, the gentleman like you who, if

1416
01:11:51,720 --> 01:11:53,200
Speaker 8: you don't talk, the chance we could have been talking

1417
01:11:53,200 --> 01:11:54,960
Speaker 8: about this for three support me.

1418
01:11:56,520 --> 01:11:56,680
Speaker 3: Well.

1419
01:11:56,720 --> 01:12:00,639
Speaker 5: Speaking of support, last question of our asks is obviously

1420
01:12:00,920 --> 01:12:04,160
Speaker 5: you've been icon of figuring our culture, but how do

1421
01:12:04,200 --> 01:12:06,120
Speaker 5: you feel about your legacy, especially when it comes to

1422
01:12:06,200 --> 01:12:06,759
Speaker 5: black media.

1423
01:12:06,880 --> 01:12:11,200
Speaker 3: I believe you've never been on any front pages of

1424
01:12:11,240 --> 01:12:13,240
Speaker 3: any publication stuff like that. Do you think about that

1425
01:12:13,320 --> 01:12:16,800
Speaker 3: stuff or what's your thoughts on Yeah?

1426
01:12:17,000 --> 01:12:18,960
Speaker 8: I think I think somebody share that with you. Know.

1427
01:12:19,000 --> 01:12:20,519
Speaker 8: I have not been on the cover of any black

1428
01:12:20,560 --> 01:12:26,200
Speaker 8: magazine ever. I have the top I have the number

1429
01:12:26,280 --> 01:12:29,479
Speaker 8: one selling cover on inc And the number four selling

1430
01:12:29,560 --> 01:12:31,600
Speaker 8: cover on INK. I've been on Ink three times. I

1431
01:12:31,680 --> 01:12:36,640
Speaker 8: think Success magazine, Entrepreneur magazine. I've never been on the

1432
01:12:36,680 --> 01:12:41,519
Speaker 8: cover of any African American magazine. I think that it is,

1433
01:12:42,640 --> 01:12:44,200
Speaker 8: and it's not because I need to be right. I'm

1434
01:12:44,240 --> 01:12:48,439
Speaker 8: on Sharks Kank reruns on CNBC sixty times a week.

1435
01:12:48,520 --> 01:12:51,760
Speaker 8: I am the Kardashians of CNBC. I don't have any

1436
01:12:51,840 --> 01:12:56,799
Speaker 8: shortage of attention for me now to qualify that statement,

1437
01:12:56,880 --> 01:12:58,919
Speaker 8: I should not be on the cover of a music magazine.

1438
01:12:59,120 --> 01:13:01,720
Speaker 8: I should not be on a cover of a sports magazine, right.

1439
01:13:02,400 --> 01:13:04,280
Speaker 8: I do think that those magazines, if they're gonna put

1440
01:13:04,280 --> 01:13:08,120
Speaker 8: Beyonce on the cover, and I know cover space is important,

1441
01:13:08,240 --> 01:13:15,120
Speaker 8: put the inside story of Beyonce is amazing team behind her, right,

1442
01:13:15,240 --> 01:13:19,639
Speaker 8: And that's the way we show or Lebron put Maverick

1443
01:13:19,800 --> 01:13:21,800
Speaker 8: and a lot of people in between. Because I want

1444
01:13:21,800 --> 01:13:23,639
Speaker 8: every single kid out there to say, if I can't

1445
01:13:23,680 --> 01:13:25,920
Speaker 8: be a Beyonce, I'm gonna be around her because I

1446
01:13:26,000 --> 01:13:28,919
Speaker 8: could be her lawyer, you know, I could be her manager,

1447
01:13:29,040 --> 01:13:31,320
Speaker 8: and the same with Lebron. And I think that our

1448
01:13:31,400 --> 01:13:34,200
Speaker 8: young men and women need to see that they can

1449
01:13:34,360 --> 01:13:36,719
Speaker 8: be part of that, and I think they would also

1450
01:13:36,880 --> 01:13:40,280
Speaker 8: That magazine would probably get way more advertising because they

1451
01:13:40,320 --> 01:13:43,920
Speaker 8: wouldn't get necessarily just cosmetic lines and clothes, but they

1452
01:13:43,960 --> 01:13:47,600
Speaker 8: would get chase, they would get into it, right, they

1453
01:13:47,640 --> 01:13:49,640
Speaker 8: would get other things. I think it's a smart thing

1454
01:13:49,720 --> 01:13:49,880
Speaker 8: to do.

1455
01:13:53,800 --> 01:13:53,920
Speaker 7: You know.

1456
01:13:54,240 --> 01:13:58,439
Speaker 8: I don't know why necessarily, I haven't been on there,

1457
01:14:00,040 --> 01:14:02,800
Speaker 8: because there's a million people like us three in the

1458
01:14:02,880 --> 01:14:05,519
Speaker 8: room that we see the behind the scenes. Maybe it

1459
01:14:05,600 --> 01:14:07,400
Speaker 8: goes back to that systemic thing we were talking about

1460
01:14:07,400 --> 01:14:11,040
Speaker 8: in the past where they weren't used to putting African

1461
01:14:11,120 --> 01:14:13,880
Speaker 8: Americans on the top because they said, hold on, slow down,

1462
01:14:13,920 --> 01:14:15,720
Speaker 8: and don't put me on there. I don't want to

1463
01:14:15,800 --> 01:14:18,479
Speaker 8: do it. I don't want too much attention. I mean,

1464
01:14:18,520 --> 01:14:23,920
Speaker 8: we only quietly heard of Robert Smith two three years ago, right,

1465
01:14:25,680 --> 01:14:29,160
Speaker 8: and there's there's other you know, I'm fortunate enough enough

1466
01:14:29,240 --> 01:14:32,360
Speaker 8: to be in a group. There is about sixty versions

1467
01:14:32,600 --> 01:14:35,880
Speaker 8: of us in that room. There's Ken Shanol, Robert Smith,

1468
01:14:35,920 --> 01:14:39,000
Speaker 8: and there's the other. There's other people Robert Smith's size

1469
01:14:39,040 --> 01:14:43,800
Speaker 8: that nobody knows the right people know. I don't know,

1470
01:14:44,560 --> 01:14:50,720
Speaker 8: but forget me. I think that, you know, I think

1471
01:14:50,800 --> 01:14:54,160
Speaker 8: that the I think that the African American inspired publications

1472
01:14:54,920 --> 01:15:00,800
Speaker 8: should just highlight more of people like you know, the

1473
01:15:01,320 --> 01:15:03,760
Speaker 8: you know, IBM CEO. I think that I think the

1474
01:15:03,880 --> 01:15:06,200
Speaker 8: more they they got to find a way to do

1475
01:15:06,360 --> 01:15:08,720
Speaker 8: that because our kids want to emulate what they see

1476
01:15:08,760 --> 01:15:11,400
Speaker 8: the most of and it's very hard, right, you know,

1477
01:15:12,400 --> 01:15:14,040
Speaker 8: I can sit there on a short tangle. I want

1478
01:15:14,080 --> 01:15:15,840
Speaker 8: you guys can do Earn your Leisure you want, you

1479
01:15:15,880 --> 01:15:17,360
Speaker 8: can see it. And if you listen to Earn your

1480
01:15:17,439 --> 01:15:19,920
Speaker 8: Leisure podcast, you probably will listen to you. You definitely

1481
01:15:19,920 --> 01:15:22,120
Speaker 8: listen to every podcast, and you may listen to one

1482
01:15:22,320 --> 01:15:24,920
Speaker 8: a couple of times. But if you hear a song,

1483
01:15:25,520 --> 01:15:27,960
Speaker 8: you know you're gonna listen to that ten times a day.

1484
01:15:28,320 --> 01:15:32,360
Speaker 8: And that song, as country music and rap music, is

1485
01:15:32,360 --> 01:15:35,439
Speaker 8: always the voice of the people. That song is a

1486
01:15:35,560 --> 01:15:37,840
Speaker 8: young man or a woman reflecting on what they are

1487
01:15:38,040 --> 01:15:41,960
Speaker 8: dealing with in life, and nobody, nobody can judge them

1488
01:15:42,040 --> 01:15:45,519
Speaker 8: for saying this is right or wrong, and that may

1489
01:15:45,600 --> 01:15:51,120
Speaker 8: often have a lot of elements that are not in

1490
01:15:51,240 --> 01:15:54,479
Speaker 8: the best interest of a child to want to aspire to.

1491
01:15:56,160 --> 01:15:59,200
Speaker 8: So we have to be very intentional about the way

1492
01:15:59,439 --> 01:16:02,600
Speaker 8: that we try to like you do it, like you

1493
01:16:02,680 --> 01:16:04,480
Speaker 8: do it, or your asia. We have to be intentional

1494
01:16:04,560 --> 01:16:07,800
Speaker 8: about the way we try to curve the discussion.

1495
01:16:07,880 --> 01:16:11,160
Speaker 6: I think, yeah, well I'd like to thank you. Yeah,

1496
01:16:11,160 --> 01:16:14,280
Speaker 6: I'd like to forgive Chauncey and Events for making us

1497
01:16:14,280 --> 01:16:14,759
Speaker 6: way through.

1498
01:16:14,880 --> 01:16:20,280
Speaker 4: Yeah, for creating a mold and for creating a platform

1499
01:16:20,960 --> 01:16:23,040
Speaker 4: for us to aspire to look to be right. So

1500
01:16:23,160 --> 01:16:26,040
Speaker 4: if there isn't a damn John that comes from hip

1501
01:16:26,040 --> 01:16:29,040
Speaker 4: hop and house queens, there is a sense to business.

1502
01:16:29,400 --> 01:16:31,320
Speaker 4: Who knows if there is two young men that can

1503
01:16:31,360 --> 01:16:33,880
Speaker 4: create an leisure So I want to just person thank.

1504
01:16:33,720 --> 01:16:36,960
Speaker 8: You, thank you, thank you for highlighting this. And I

1505
01:16:36,960 --> 01:16:40,160
Speaker 8: wouldn't be here without all those grades who who we

1506
01:16:40,240 --> 01:16:43,240
Speaker 8: will never hear the names of, who have sacrificed their

1507
01:16:43,320 --> 01:16:46,160
Speaker 8: lives and various other things for us to be able

1508
01:16:46,240 --> 01:16:49,240
Speaker 8: to even be free, right to have this discussion that

1509
01:16:49,520 --> 01:16:53,120
Speaker 8: that people will never have heard of. Who you know

1510
01:16:54,240 --> 01:16:56,200
Speaker 8: we you know we stand on the shoulder giants, and

1511
01:16:56,280 --> 01:16:58,519
Speaker 8: I know we can appreciate that. So thank you and

1512
01:16:58,600 --> 01:17:00,519
Speaker 8: thank you everybody who listens in man, thank you for

1513
01:17:00,640 --> 01:17:04,240
Speaker 8: keeping supporting entrepreneurship. Love what you did out there with

1514
01:17:05,160 --> 01:17:07,479
Speaker 8: all those things in Atlanta. What is it called, oh

1515
01:17:07,720 --> 01:17:10,599
Speaker 8: herd twenty thousands? We need you to do next year.

1516
01:17:10,880 --> 01:17:13,479
Speaker 8: I absolutely love to see you doing. By the way,

1517
01:17:13,520 --> 01:17:16,080
Speaker 8: when I was talking about my book, please, if you're

1518
01:17:16,160 --> 01:17:18,280
Speaker 8: a celebrity or a bank or whoever you are, or

1519
01:17:18,320 --> 01:17:21,639
Speaker 8: whatever the case is. Please compete with me. Get another

1520
01:17:21,720 --> 01:17:23,840
Speaker 8: financial book out. It was the number one book on

1521
01:17:24,160 --> 01:17:27,560
Speaker 8: Amazon for twenty four hours. That means more books. I

1522
01:17:27,560 --> 01:17:29,559
Speaker 8: don't even if you get anything that has a pamphlet

1523
01:17:29,640 --> 01:17:31,960
Speaker 8: in it as instructions. I sold more books than everything

1524
01:17:32,000 --> 01:17:35,320
Speaker 8: that existed in the planet twenty four hours. Compete with me, yep,

1525
01:17:35,560 --> 01:17:38,360
Speaker 8: put out more stuff. Right, it's a party. Let's show

1526
01:17:38,400 --> 01:17:38,960
Speaker 8: up to the party.

1527
01:17:39,280 --> 01:17:40,080
Speaker 6: Everybody's invited.

1528
01:17:40,240 --> 01:17:42,360
Speaker 3: Let's do it all right, gouys, thank you for rocking on.

1529
01:17:42,520 --> 01:17:43,200
Speaker 3: We see you next week.

1530
01:17:43,280 --> 01:17:43,840
Speaker 8: Peace please.

1531
01:17:45,000 --> 01:17:48,599
Speaker 1: An illegal alien from Guatemala charged with raping a child

1532
01:17:48,680 --> 01:17:52,480
Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador

1533
01:17:52,720 --> 01:17:56,840
Speaker 1: accused of murdering a Texas man of Venezuelan charged with

1534
01:17:56,920 --> 01:18:00,800
Speaker 1: filming and selling child pornography in Michigan. These are just

1535
01:18:00,920 --> 01:18:04,639
Speaker 1: some of the heinous migrant criminals caught because of President

1536
01:18:04,720 --> 01:18:08,240
Speaker 1: Donald J. Trump's leadership. I'm Christy Noman, the United States

1537
01:18:08,320 --> 01:18:13,080
Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border

1538
01:18:13,160 --> 01:18:16,640
Speaker 1: crossings are at the lowest levels ever recorded, and over

1539
01:18:16,760 --> 01:18:19,920
Speaker 1: one hundred thousand illegal aliens have been arrested. If you

1540
01:18:20,040 --> 01:18:23,880
Speaker 1: are here illegally. Your next you will be fine nearly

1541
01:18:24,000 --> 01:18:27,920
Speaker 1: one thousand dollars a day, imprisoned, and deported. You will

1542
01:18:28,040 --> 01:18:31,679
Speaker 1: never return. But if you register using our CBP home

1543
01:18:31,720 --> 01:18:35,080
Speaker 1: app and leave now, you could be allowed to return legally.

1544
01:18:35,479 --> 01:18:40,120
Speaker 1: Do what's right. Leave now. Under President Trump America's laws,

1545
01:18:40,400 --> 01:18:42,799
Speaker 1: border and families will be protected.

1546
01:18:42,920 --> 01:18:45,040
Speaker 2: Sponsored by the United States Department of Homeland Security,