WEBVTT - Scholars Corner: Bacardi Settles with Jay-Z for $750 Million

0:00:00.040 --> 0:00:03.600
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:00:03.680 --> 0:00:07.480
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:00:07.720 --> 0:00:11.840
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:00:11.920 --> 0:00:15.840
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:00:15.920 --> 0:00:19.680
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:00:19.720 --> 0:00:23.320
<v Speaker 1>Donald J. Trump's leadership. I'm Christy nom the United States

0:00:23.320 --> 0:00:28.120
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:00:28.160 --> 0:00:31.680
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:00:31.760 --> 0:00:34.960
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:00:35.040 --> 0:00:38.920
<v Speaker 1>are here illegally, your next you will be fined nearly

0:00:39.000 --> 0:00:43.000
<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

0:00:43.040 --> 0:00:46.680
<v Speaker 1>never return. But if you register using our CBP home

0:00:46.720 --> 0:00:50.120
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:00:50.479 --> 0:00:55.240
<v Speaker 1>Do what's right. Leave now. Under President Trump, America's laws,

0:00:55.400 --> 0:00:57.840
<v Speaker 1>border and families will be protected.

0:00:57.920 --> 0:01:00.000
<v Speaker 2>Sponsored by the United States Department of Homeland Security.

0:01:00.240 --> 0:01:04.520
<v Speaker 3>The stock market, especially the NASDAK, has had great had

0:01:04.520 --> 0:01:09.959
<v Speaker 3>a great January. Yes, last day Friday wasn't good, but

0:01:10.640 --> 0:01:13.520
<v Speaker 3>for the month of January it was insane. It was

0:01:13.520 --> 0:01:18.880
<v Speaker 3>on a great run. Do we expect February to continue

0:01:18.959 --> 0:01:19.600
<v Speaker 3>in this path?

0:01:21.080 --> 0:01:24.679
<v Speaker 4>They raised a basis points by quarter of one percent,

0:01:25.120 --> 0:01:27.360
<v Speaker 4>so that was the reason why I drugged down. They

0:01:27.400 --> 0:01:29.920
<v Speaker 4>seem to be lightening up on how much they were

0:01:29.920 --> 0:01:32.560
<v Speaker 4>going to raise rates, so it's not going to be

0:01:32.560 --> 0:01:34.839
<v Speaker 4>the aggressive six to seven percent that we thought maybe

0:01:34.880 --> 0:01:38.000
<v Speaker 4>three months ago. I'm kind of worried though, because like

0:01:38.080 --> 0:01:41.680
<v Speaker 4>the tech companies are going up like too rapidly, like

0:01:41.760 --> 0:01:44.800
<v Speaker 4>our rather a slow increase. I think February would be solid,

0:01:44.840 --> 0:01:47.480
<v Speaker 4>March will be pretty good, but I don't want companies

0:01:47.520 --> 0:01:50.200
<v Speaker 4>to over inflate, over hyper go up too fast, like

0:01:50.240 --> 0:01:52.120
<v Speaker 4>even metas damn the double.

0:01:51.920 --> 0:01:53.640
<v Speaker 5>Well you were talking about Facebook, so this day had

0:01:53.640 --> 0:01:54.680
<v Speaker 5>their biggest.

0:01:54.280 --> 0:02:01.120
<v Speaker 3>One day game ever. Ine, Yes, you were very barish

0:02:01.200 --> 0:02:01.920
<v Speaker 3>on Meta.

0:02:01.920 --> 0:02:03.600
<v Speaker 2>Still am and I was right in embarrassments.

0:02:03.840 --> 0:02:08.400
<v Speaker 5>So do you think that now it's.

0:02:07.840 --> 0:02:10.560
<v Speaker 3>On the rise. Yeah, it's on the rise. Yeah, So

0:02:10.919 --> 0:02:12.080
<v Speaker 3>what's your thoughts on Meta?

0:02:12.600 --> 0:02:16.440
<v Speaker 4>They finally start listening. They began to be a lot

0:02:16.440 --> 0:02:19.239
<v Speaker 4>more efficient. They're cutting out a lot of metal management.

0:02:20.480 --> 0:02:22.760
<v Speaker 4>Zuckerberg even said like it's fun now because the people

0:02:22.800 --> 0:02:25.400
<v Speaker 4>that it got laid off it was necessary and now

0:02:25.480 --> 0:02:28.120
<v Speaker 4>people that are there Meta like want to be there,

0:02:28.160 --> 0:02:31.480
<v Speaker 4>actually want to write code, want to make better products

0:02:31.480 --> 0:02:37.000
<v Speaker 4>than seeing some changes on Instagram. So I think they

0:02:37.040 --> 0:02:39.080
<v Speaker 4>aren't going to get back to that peak anytime soon,

0:02:39.440 --> 0:02:40.680
<v Speaker 4>but they're going in the right direction.

0:02:40.919 --> 0:02:42.040
<v Speaker 2>Yeah, I mean.

0:02:41.960 --> 0:02:46.320
<v Speaker 6>You said the products obviously reels. Yeah, we did great

0:02:46.360 --> 0:02:49.320
<v Speaker 6>for them in the court, Yes, did amazing. And there

0:02:49.440 --> 0:02:52.040
<v Speaker 6>is some talk that he might be cutting back on

0:02:52.200 --> 0:02:54.360
<v Speaker 6>at the amount of spending that he was going to

0:02:54.400 --> 0:02:57.080
<v Speaker 6>do into the space. And so when you're talking about

0:02:57.080 --> 0:03:00.400
<v Speaker 6>over fifty billion dollars being invested into the metaverse, scaling

0:03:00.480 --> 0:03:03.240
<v Speaker 6>that back, that's positive news, which is a bad investment.

0:03:04.000 --> 0:03:05.799
<v Speaker 6>And this is and if you go back, I think

0:03:05.880 --> 0:03:10.359
<v Speaker 6>to the end of twenty twenty one, we ask each other,

0:03:10.400 --> 0:03:12.000
<v Speaker 6>like what do you think is the most important stock.

0:03:12.480 --> 0:03:15.079
<v Speaker 2>I remember saying like, y'all, it's going to be Facebook.

0:03:15.400 --> 0:03:18.880
<v Speaker 6>And the reason not because of anything product that they're doing,

0:03:18.919 --> 0:03:20.799
<v Speaker 6>but the amount of money that he's spending on This

0:03:21.400 --> 0:03:23.760
<v Speaker 6>will really determine how the future of this company's going

0:03:23.800 --> 0:03:26.800
<v Speaker 6>to look, because if you put fifty billion dollars and

0:03:26.840 --> 0:03:28.919
<v Speaker 6>this doesn't work, how do you recover?

0:03:29.120 --> 0:03:31.400
<v Speaker 4>I mean, the peak was three eighty four thirty three.

0:03:31.440 --> 0:03:35.760
<v Speaker 4>It is at one eighty six fifty three. Nice growth,

0:03:36.840 --> 0:03:38.920
<v Speaker 4>but they at least need to get to two ten

0:03:38.960 --> 0:03:41.680
<v Speaker 4>and two fifty before I'm like super excited about the

0:03:41.840 --> 0:03:42.760
<v Speaker 4>upside of it.

0:03:43.640 --> 0:03:44.280
<v Speaker 5>So it was.

0:03:44.360 --> 0:03:47.280
<v Speaker 3>It was at eighty eight dollars in November and it's

0:03:47.320 --> 0:03:49.120
<v Speaker 3>had one hundred and eighty six dollars down, So I

0:03:49.160 --> 0:03:55.360
<v Speaker 3>want up one hundred dollars more than double in a

0:03:55.360 --> 0:03:56.000
<v Speaker 3>couple of months.

0:03:56.200 --> 0:03:58.480
<v Speaker 4>Yeah, good trade, and shout out to those who got

0:03:58.520 --> 0:04:01.360
<v Speaker 4>on the call. Some people are up in stock club

0:04:01.400 --> 0:04:06.120
<v Speaker 4>as a result. So like short term, I'm still bullish.

0:04:06.160 --> 0:04:09.080
<v Speaker 4>Long term, I'm still bearish until I'll see like a

0:04:09.160 --> 0:04:11.440
<v Speaker 4>change and playing even on like the conference call, they

0:04:11.480 --> 0:04:14.000
<v Speaker 4>didn't mention the meta versus much as they did the

0:04:14.040 --> 0:04:18.160
<v Speaker 4>previous call very intentionally. Absolutely, can we say the meta

0:04:18.240 --> 0:04:19.240
<v Speaker 4>versus a failure.

0:04:20.839 --> 0:04:21.760
<v Speaker 2>For them?

0:04:21.920 --> 0:04:25.080
<v Speaker 4>Will it work for other companies? Yes, Apple VR headset

0:04:25.160 --> 0:04:27.680
<v Speaker 4>is coming out soon. They want to replace this with

0:04:27.680 --> 0:04:30.039
<v Speaker 4>the headset. Tim Cook is going to eat their lunch.

0:04:32.360 --> 0:04:32.640
<v Speaker 2>John.

0:04:32.880 --> 0:04:37.840
<v Speaker 4>Kudos to John Wren, marn Alvin, Mark Zuckerberg, everyone at

0:04:37.839 --> 0:04:41.560
<v Speaker 4>Menlo Park. If you're in Meta and I'm right, go

0:04:41.560 --> 0:04:43.800
<v Speaker 4>into your other YouTube account and put yes and chat.

0:04:44.480 --> 0:04:48.200
<v Speaker 4>These are all the conversations like they were spending like

0:04:48.240 --> 0:04:51.559
<v Speaker 4>the three times I went, No, one's eating the food.

0:04:51.960 --> 0:04:55.720
<v Speaker 4>There's sixty thousand dollars worth of duck hunt feet or whatever.

0:04:56.360 --> 0:04:57.200
<v Speaker 2>Just sit. I'm like, this.

0:04:57.560 --> 0:05:03.920
<v Speaker 4>Wasteful spending was like insane. Now they're finally cutting back.

0:05:04.600 --> 0:05:07.160
<v Speaker 4>Not as many people in office. We have more people.

0:05:07.200 --> 0:05:10.440
<v Speaker 4>At one point they had no engineers working on building

0:05:10.480 --> 0:05:13.640
<v Speaker 4>new products for two years.

0:05:14.320 --> 0:05:17.760
<v Speaker 2>See Rasha would have fired everybody. Right, they're done.

0:05:17.880 --> 0:05:19.480
<v Speaker 4>So now that if they get back to a place

0:05:19.480 --> 0:05:23.000
<v Speaker 4>of actually being innovative, I think they can. They can

0:05:23.040 --> 0:05:24.719
<v Speaker 4>have a tremendous subside. But I need to see like

0:05:24.760 --> 0:05:26.080
<v Speaker 4>this consistent pattern of the fictional.

0:05:26.120 --> 0:05:28.520
<v Speaker 5>So people invest in in Meta now.

0:05:28.440 --> 0:05:31.800
<v Speaker 4>Or no, no, not if it doesn't get back to

0:05:33.240 --> 0:05:36.160
<v Speaker 4>one on two twenty three or like one on four.

0:05:38.520 --> 0:05:40.240
<v Speaker 4>There are other companies that you could have invested in

0:05:40.240 --> 0:05:42.560
<v Speaker 4>that will give you more safety. And it's crazy to say,

0:05:42.600 --> 0:05:44.360
<v Speaker 4>like in video is a safer move right now than

0:05:44.480 --> 0:05:44.919
<v Speaker 4>Meta is.

0:05:45.600 --> 0:05:47.839
<v Speaker 5>Well, you can go or you can go to ETF route.

0:05:47.600 --> 0:05:49.919
<v Speaker 2>Absolutely two tech two index, No stress.

0:05:50.279 --> 0:05:53.400
<v Speaker 4>Franklin Dina Tech fund is what he talked about investing,

0:05:53.520 --> 0:05:54.560
<v Speaker 4>Can everyone put it in chat?

0:05:54.600 --> 0:05:55.520
<v Speaker 2>Investment is not hard.

0:05:56.000 --> 0:05:58.760
<v Speaker 4>Just stick to the same blueprint, so vo O, v

0:05:58.880 --> 0:06:02.400
<v Speaker 4>t I, Apple, Arcosoft if you're trading maybe looking for

0:06:02.680 --> 0:06:06.800
<v Speaker 4>maximum but they've had an amazing quarter for sure. But

0:06:06.880 --> 0:06:11.000
<v Speaker 4>if you look from three eighty four down to eighty bucks,

0:06:11.000 --> 0:06:11.880
<v Speaker 4>that's a hell of a fall.

0:06:12.760 --> 0:06:13.080
<v Speaker 2>Yeah.

0:06:13.160 --> 0:06:16.520
<v Speaker 3>Yeah, that's the tough and that's the benefit of diversification, right,

0:06:16.560 --> 0:06:19.120
<v Speaker 3>So index funds, but even the ETF which is more

0:06:19.839 --> 0:06:21.920
<v Speaker 3>specific if you have you know.

0:06:22.120 --> 0:06:23.400
<v Speaker 5>The qqqs of the world.

0:06:23.480 --> 0:06:25.720
<v Speaker 3>Yeah, or even on mutual fund like you said, franking

0:06:25.800 --> 0:06:29.640
<v Speaker 3>Dona take fund where all right, if Facebook does well,

0:06:29.760 --> 0:06:33.160
<v Speaker 3>your benefit, But you're not putting all your eggs in one,

0:06:34.120 --> 0:06:36.839
<v Speaker 3>so now you get the full spectrum of all of

0:06:36.839 --> 0:06:38.960
<v Speaker 3>the different players on the team as opposed to just

0:06:39.680 --> 0:06:40.720
<v Speaker 3>you know, trying to ride it.

0:06:40.680 --> 0:06:42.599
<v Speaker 2>Out with one.

0:06:43.880 --> 0:06:48.080
<v Speaker 3>Investing in one stock is usually not a good idea, no,

0:06:49.760 --> 0:06:53.960
<v Speaker 3>and some people have it's been like a revelation online

0:06:53.960 --> 0:06:56.520
<v Speaker 3>where it's like, oh, like, but I've always said that

0:06:56.560 --> 0:06:58.560
<v Speaker 3>it's never been a good idea. I personally said, I

0:06:58.600 --> 0:07:01.440
<v Speaker 3>don't really invest individual stock. Yeah you can if you

0:07:01.480 --> 0:07:04.080
<v Speaker 3>want to, but of course there's a lot more risk

0:07:04.279 --> 0:07:07.920
<v Speaker 3>involved when you're investing with an individual stock as opposed

0:07:07.920 --> 0:07:11.280
<v Speaker 3>to investing in an index funnel each Yeah, but we've

0:07:11.280 --> 0:07:12.000
<v Speaker 3>already said that.

0:07:12.120 --> 0:07:14.040
<v Speaker 4>Go look at the mass straw down over the last

0:07:14.040 --> 0:07:15.880
<v Speaker 4>five years of every stock first.

0:07:17.160 --> 0:07:19.440
<v Speaker 6>This episode is brought to you by P and C Bank.

0:07:19.800 --> 0:07:22.560
<v Speaker 6>A lot of people think podcasts about work are boring,

0:07:22.800 --> 0:07:26.640
<v Speaker 6>and sure they definitely can be, But understanding a professionals

0:07:26.720 --> 0:07:29.960
<v Speaker 6>routine shows us how they achieve their success little by little,

0:07:30.360 --> 0:07:34.000
<v Speaker 6>day after day. It's like banking with P and C Bank.

0:07:34.480 --> 0:07:37.280
<v Speaker 6>It might seem boring the safe plan and make calculated

0:07:37.280 --> 0:07:40.400
<v Speaker 6>decisions with your bank, but keeping your money boring is

0:07:40.440 --> 0:07:43.760
<v Speaker 6>what helps you live or more happily fulfilled life. P

0:07:43.880 --> 0:07:48.680
<v Speaker 6>and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly

0:07:48.760 --> 0:07:51.400
<v Speaker 6>Boring since eighteen sixty five is a service mark of

0:07:51.400 --> 0:07:54.640
<v Speaker 6>the PNC Financial Service Group, Inc. P and C Bank

0:07:55.080 --> 0:07:57.800
<v Speaker 6>National Association Member FDIC.

0:08:00.320 --> 0:08:01.080
<v Speaker 2>Earners. What's Up?

0:08:01.160 --> 0:08:03.640
<v Speaker 6>You ever walk into a small business and everything just

0:08:03.760 --> 0:08:06.960
<v Speaker 6>works like the checkout is fast, the receipts are digital,

0:08:07.480 --> 0:08:10.440
<v Speaker 6>tipping is a breeze, and you're out the door before

0:08:10.480 --> 0:08:14.640
<v Speaker 6>the line even builds. Odds are they're using Square? We

0:08:14.760 --> 0:08:17.320
<v Speaker 6>love supporting businesses that run on Square because it just

0:08:17.360 --> 0:08:20.600
<v Speaker 6>feels seamless. Whether it's a local coffee shop, a vendor

0:08:20.640 --> 0:08:22.800
<v Speaker 6>at a pop up market, or even one of.

0:08:22.760 --> 0:08:23.760
<v Speaker 2>Our merch partners.

0:08:24.000 --> 0:08:27.800
<v Speaker 6>Square makes it easy for them to take payments, manage inventory,

0:08:27.880 --> 0:08:31.760
<v Speaker 6>and run their business with confidence, all from one simple system.

0:08:32.240 --> 0:08:34.840
<v Speaker 6>If you're a business owner or even just thinking about

0:08:34.920 --> 0:08:38.000
<v Speaker 6>launching something soon, Square is hands down one of the

0:08:38.040 --> 0:08:41.480
<v Speaker 6>best tools out there to help you start, run and grow.

0:08:41.760 --> 0:08:44.760
<v Speaker 6>It's not just about payments, it's about giving you time

0:08:44.880 --> 0:08:47.800
<v Speaker 6>back so you can focus on what matters most ready.

0:08:47.840 --> 0:08:51.200
<v Speaker 6>To see how Square can transform your business, visit Square

0:08:51.280 --> 0:08:55.800
<v Speaker 6>dot com backslash go backslash eyl to learn more that

0:08:56.000 --> 0:09:00.480
<v Speaker 6>Square dot com backslash, go backslash eyl, don't I, don't wait,

0:09:00.720 --> 0:09:03.520
<v Speaker 6>don't hesitate. Let's Square handle the back end so you

0:09:03.559 --> 0:09:06.440
<v Speaker 6>can keep pushing your vision forward.

0:09:07.440 --> 0:09:11.120
<v Speaker 1>An illegal alien from Guatemala charged with raping a child

0:09:11.120 --> 0:09:14.920
<v Speaker 1>in Massachusetts. An MS thirteen gang member from Al Salvador

0:09:15.160 --> 0:09:19.320
<v Speaker 1>accused of murdering a Texas man of Venezuelan charged with

0:09:19.360 --> 0:09:23.280
<v Speaker 1>filming and selling child pornography in Michigan. These are just

0:09:23.360 --> 0:09:27.080
<v Speaker 1>some of the heinous migrant criminals caught because of President

0:09:27.160 --> 0:09:30.760
<v Speaker 1>Donald J. Trump's leadership. I'm Christy Noman the United States

0:09:30.760 --> 0:09:35.560
<v Speaker 1>Secretary of Homeland Security. Under President Trump, attempted illegal border

0:09:35.600 --> 0:09:39.160
<v Speaker 1>crossings are at the lowest levels ever recorded, and over

0:09:39.200 --> 0:09:42.440
<v Speaker 1>one hundred thousand illegal aliens have been arrested. If you

0:09:42.480 --> 0:09:46.360
<v Speaker 1>are here illegally, your next you will be fined nearly

0:09:46.440 --> 0:09:50.440
<v Speaker 1>one thousand dollars a day, imprisoned, and deported. You will

0:09:50.480 --> 0:09:54.120
<v Speaker 1>never return. But if you register using our CBP home

0:09:54.160 --> 0:09:57.559
<v Speaker 1>app and leave now, you could be allowed to return legally.

0:09:57.920 --> 0:10:02.640
<v Speaker 1>Do what's right, leave now. Under President Trump, America's laws

0:10:02.840 --> 0:10:05.280
<v Speaker 1>border and families will be protected.

0:10:05.400 --> 0:10:07.480
<v Speaker 2>Sponsored by the United States Department of Homeland Security.

0:10:07.600 --> 0:10:09.240
<v Speaker 4>Is the index strawt down is how much money you

0:10:09.280 --> 0:10:12.400
<v Speaker 4>lose from top to bottom. There's a lot less loss.

0:10:12.600 --> 0:10:15.640
<v Speaker 4>The investment is not hard. People just want to gamble.

0:10:15.960 --> 0:10:19.439
<v Speaker 6>And even when you're investing in the ETF, actually look

0:10:19.480 --> 0:10:22.200
<v Speaker 6>inside of it, Like, look at where the asset allocation

0:10:22.320 --> 0:10:25.920
<v Speaker 6>is going to. It changes, right, I think metas is

0:10:25.920 --> 0:10:29.440
<v Speaker 6>it in XLC, is it in communications? Yeah? So look

0:10:29.440 --> 0:10:31.920
<v Speaker 6>look at the allocation. Is it twenty percent of the

0:10:31.920 --> 0:10:33.520
<v Speaker 6>ETF or is it twelve percent?

0:10:33.840 --> 0:10:34.040
<v Speaker 2>Right?

0:10:34.120 --> 0:10:35.560
<v Speaker 6>Like so if it does have a droll down, it's

0:10:35.600 --> 0:10:37.680
<v Speaker 6>twenty percent of the ETF. Yeah, you want to feel

0:10:37.679 --> 0:10:40.600
<v Speaker 6>that right, whereas you might in QQQ, I think it's

0:10:40.640 --> 0:10:44.280
<v Speaker 6>like eight percent, right, So look inside of the ETFs themselves,

0:10:44.520 --> 0:10:46.720
<v Speaker 6>see the percentage of the allocations, and then make an

0:10:47.080 --> 0:10:49.160
<v Speaker 6>educated decision. All right, well I want to have some

0:10:49.240 --> 0:10:50.920
<v Speaker 6>exposure to it. Do I want to have twenty five

0:10:50.960 --> 0:10:52.440
<v Speaker 6>percent of the ETF or do I want to have

0:10:53.000 --> 0:10:54.160
<v Speaker 6>seven percent of the ETF.

0:10:54.280 --> 0:10:57.080
<v Speaker 4>So what would make me very bullish on Meta is

0:10:57.080 --> 0:11:00.000
<v Speaker 4>if they build a chet GBT competitor.

0:11:00.000 --> 0:11:00.600
<v Speaker 2>And that's another thing.

0:11:00.640 --> 0:11:03.760
<v Speaker 4>If I'm comparing Microsoft and their partnership with chat GBT,

0:11:04.400 --> 0:11:06.040
<v Speaker 4>if they would have had that and it could have

0:11:06.080 --> 0:11:07.640
<v Speaker 4>fixed a lot of the coding issues while they did

0:11:07.640 --> 0:11:08.720
<v Speaker 4>the layoffs, I would have.

0:11:08.720 --> 0:11:09.880
<v Speaker 2>Been incredibly excited.

0:11:10.960 --> 0:11:13.640
<v Speaker 4>They need some ail automation in place in order to

0:11:13.679 --> 0:11:16.959
<v Speaker 4>be able to make the company grow faster. If they

0:11:17.000 --> 0:11:19.800
<v Speaker 4>have that in place, I would be incredibly excited. I

0:11:19.800 --> 0:11:22.240
<v Speaker 4>would be bullish on Meta again at that point. But

0:11:22.320 --> 0:11:25.480
<v Speaker 4>if I'm comparing Microsoft's Apple versus them, I'm gonna pick

0:11:26.800 --> 0:11:29.040
<v Speaker 4>Apple and Microsoft every time for sure.

0:11:29.320 --> 0:11:32.559
<v Speaker 3>So what's your thoughts on Bacardi settling with jay Z

0:11:32.800 --> 0:11:35.680
<v Speaker 3>for seven hundred and fifty million dollars And what is this?

0:11:35.880 --> 0:11:37.480
<v Speaker 5>What is this even about.

0:11:37.480 --> 0:11:45.719
<v Speaker 2>Jay had a couple issues. That's fun putting it out

0:11:45.720 --> 0:11:46.760
<v Speaker 2>there to the world.

0:11:47.960 --> 0:11:49.640
<v Speaker 4>I think it was maybe six months ago where he

0:11:49.679 --> 0:11:51.679
<v Speaker 4>wanted to see the books I want to deal with

0:11:51.760 --> 0:11:54.959
<v Speaker 4>do say? And I know I read a lot of

0:11:55.000 --> 0:11:57.520
<v Speaker 4>the comments and people were saying, hey, he still owns

0:11:57.600 --> 0:11:59.480
<v Speaker 4>part of it. I get that, But my first thought

0:11:59.600 --> 0:12:02.680
<v Speaker 4>was if opposed to going through the entire process of

0:12:02.679 --> 0:12:05.319
<v Speaker 4>revealing books all sales and they agreed to pay out

0:12:05.360 --> 0:12:07.880
<v Speaker 4>seven fifty, how much do they really owe him?

0:12:07.960 --> 0:12:10.000
<v Speaker 2>Yeah, so what he wants to owe him four billion?

0:12:10.080 --> 0:12:12.160
<v Speaker 2>So he wanted to see the books, and this is

0:12:12.200 --> 0:12:12.959
<v Speaker 2>how it's being reported.

0:12:12.960 --> 0:12:15.480
<v Speaker 6>He wanted to see the big books because he potentially

0:12:15.480 --> 0:12:17.439
<v Speaker 6>wanted to sell his fifty percent steak in the company.

0:12:17.800 --> 0:12:22.240
<v Speaker 6>And so Bacardy owns fifty percent of Ducet and I see,

0:12:22.360 --> 0:12:25.280
<v Speaker 6>I guess Holdings or Liquors owns fifty percent of Duce,

0:12:25.720 --> 0:12:27.600
<v Speaker 6>and so he was interested in selling his fifty percent

0:12:27.600 --> 0:12:30.240
<v Speaker 6>stake in it. The problem is the valuation was so

0:12:30.280 --> 0:12:32.440
<v Speaker 6>low based on what Baccarty was saying. And so when

0:12:32.480 --> 0:12:34.800
<v Speaker 6>you tell me that the valuation is though, now I

0:12:34.840 --> 0:12:35.640
<v Speaker 6>need to see the numbers.

0:12:35.720 --> 0:12:37.760
<v Speaker 2>Showed me. Showed me the number because he knows his fadary.

0:12:37.880 --> 0:12:40.400
<v Speaker 4>He's saying like he's a fifty x multiplier to anything

0:12:40.440 --> 0:12:40.880
<v Speaker 4>he touches.

0:12:40.960 --> 0:12:44.559
<v Speaker 2>He says three Millionately, I think they got some reports

0:12:44.559 --> 0:12:44.960
<v Speaker 2>where they.

0:12:44.840 --> 0:12:48.280
<v Speaker 6>Said they were worth five billion, and Bacarty is saying, like, not,

0:12:48.679 --> 0:12:51.600
<v Speaker 6>it's worth one point five So if you have it's

0:12:51.600 --> 0:12:53.960
<v Speaker 6>worth one point five billion, your fifty percent steak is

0:12:54.280 --> 0:12:55.640
<v Speaker 6>seven hundred and fifty million.

0:12:55.880 --> 0:12:58.720
<v Speaker 2>That's what you're entitled to. And so now I have

0:12:58.720 --> 0:12:59.320
<v Speaker 2>to look at the books.

0:12:59.320 --> 0:13:01.480
<v Speaker 6>So they went through little gation for like, like you said,

0:13:01.800 --> 0:13:04.280
<v Speaker 6>six months, and it's like he finally got to a

0:13:04.320 --> 0:13:07.520
<v Speaker 6>point where they actually settled on Friday, and the settlement

0:13:07.640 --> 0:13:10.600
<v Speaker 6>was rather than selling the fifty percent steak, he sold

0:13:10.679 --> 0:13:15.240
<v Speaker 6>majority of his fifty percent, and so technically that's like

0:13:15.400 --> 0:13:18.520
<v Speaker 6>he has a twenty four point nine at the maximum

0:13:18.840 --> 0:13:23.680
<v Speaker 6>cent stake of their company. So now Bacardi's side, they saying,

0:13:23.679 --> 0:13:25.640
<v Speaker 6>all right, well we're going to agree with that evaluation.

0:13:25.960 --> 0:13:27.679
<v Speaker 6>So let's say they agree and this is all alleged.

0:13:27.760 --> 0:13:29.800
<v Speaker 6>We don't know the exact numbers. Let's say that they

0:13:29.840 --> 0:13:33.240
<v Speaker 6>agreed that it was three billion. I still have to

0:13:33.600 --> 0:13:35.040
<v Speaker 6>like payout right, because he's.

0:13:34.960 --> 0:13:35.720
<v Speaker 2>An amazing payoff.

0:13:35.760 --> 0:13:38.440
<v Speaker 6>Yeah, right, so that that's almost that's almost a billion

0:13:38.440 --> 0:13:41.480
<v Speaker 6>dollar transaction based on selling. Now he still has a

0:13:41.679 --> 0:13:43.600
<v Speaker 6>large steak in the company, like I said, twenty four

0:13:43.600 --> 0:13:46.200
<v Speaker 6>point nine percent if he did, right, So they still

0:13:46.200 --> 0:13:49.280
<v Speaker 6>have the majority. But now Bacardi owns seventy five point

0:13:49.520 --> 0:13:50.640
<v Speaker 6>one percent of.

0:13:50.600 --> 0:13:52.480
<v Speaker 2>Do So or to'd be worth in eight years off

0:13:52.520 --> 0:13:53.680
<v Speaker 2>of his name, right.

0:13:54.040 --> 0:13:56.800
<v Speaker 6>Or if the numbers show like he stay settled at

0:13:56.800 --> 0:13:59.439
<v Speaker 6>three billion allegedly or reportedly, but.

0:13:59.400 --> 0:14:00.080
<v Speaker 2>What if it was for.

0:14:01.760 --> 0:14:05.960
<v Speaker 4>Or seven or right, and we know during the depression

0:14:06.240 --> 0:14:09.280
<v Speaker 4>alcohol consumption goes up, they're still going to use his

0:14:09.440 --> 0:14:12.480
<v Speaker 4>likeness in some way to promote the brand. I will

0:14:12.559 --> 0:14:14.480
<v Speaker 4>not be surprised if that brand in four or five

0:14:14.559 --> 0:14:16.880
<v Speaker 4>years is the word twelve or thirteen billion dollars and

0:14:16.960 --> 0:14:18.600
<v Speaker 4>all of a sudden it was some kind of accounting

0:14:18.720 --> 0:14:20.360
<v Speaker 4>error to value at one point five or one.

0:14:20.240 --> 0:14:22.000
<v Speaker 6>Point And I'm sure he's going to promote it, right,

0:14:22.120 --> 0:14:23.800
<v Speaker 6>It's not like he still doesn't have ownership in it.

0:14:23.960 --> 0:14:27.280
<v Speaker 2>Yeah right, we at the brunch do say he's sponsoring it? Yeah?

0:14:27.360 --> 0:14:29.960
<v Speaker 6>Right, So the brand will live on obviously, you know

0:14:30.640 --> 0:14:33.320
<v Speaker 6>he still has a steak, he's an owner, So why

0:14:33.320 --> 0:14:36.040
<v Speaker 6>wouldn't you promoted it still generates revenue for you.

0:14:36.320 --> 0:14:38.800
<v Speaker 4>That's tricky though, because I hate when these valuation games

0:14:38.840 --> 0:14:43.360
<v Speaker 4>get played with us in particular, and I guarantee in

0:14:43.360 --> 0:14:46.400
<v Speaker 4>the year they're going to reevaluate, the company is going

0:14:46.480 --> 0:14:47.560
<v Speaker 4>to be worth a hell of a lot more.

0:14:47.720 --> 0:14:50.200
<v Speaker 6>Yeah, but that and so shout out again kudos to

0:14:50.280 --> 0:14:52.600
<v Speaker 6>j and the whole team. Right, So if you look

0:14:52.640 --> 0:14:56.520
<v Speaker 6>at it last year, they need to move with LVMH Yeah,

0:14:56.960 --> 0:14:59.600
<v Speaker 6>Asu Spade, they have to be part of that luxury company.

0:15:00.120 --> 0:15:01.760
<v Speaker 6>And we saw the numbers that that did, and so

0:15:01.920 --> 0:15:04.760
<v Speaker 6>do say was something that kind of was birthed after that.

0:15:05.440 --> 0:15:07.560
<v Speaker 2>But you getting I mean it's still a win. I'm

0:15:07.560 --> 0:15:08.160
<v Speaker 2>still a big win.

0:15:08.240 --> 0:15:13.040
<v Speaker 4>Yeah yeah, but I don't want black entrepreneurs to get

0:15:13.080 --> 0:15:18.680
<v Speaker 4>lower valuations and then matters value at what it's worth.

0:15:18.960 --> 0:15:20.160
<v Speaker 4>And if I have to ask you who is a

0:15:20.160 --> 0:15:23.480
<v Speaker 4>more impactful CEO, Jay Z and Mark Zuckerberg, I'm going

0:15:23.520 --> 0:15:26.560
<v Speaker 4>with Jay every time. Let ja have that slot at

0:15:26.640 --> 0:15:28.640
<v Speaker 4>Meta for two years unless see what it does.

0:15:29.240 --> 0:15:32.400
<v Speaker 2>I know what it would do well impact.

0:15:32.200 --> 0:15:37.040
<v Speaker 4>Absolutely like relift the Instagram, relift the Facebook, all the content.

0:15:37.400 --> 0:15:39.320
<v Speaker 4>It would be dramatically different. So, like I hate that

0:15:39.400 --> 0:15:42.240
<v Speaker 4>they devalue what the brand was really worthwhile. But don't

0:15:42.240 --> 0:15:44.520
<v Speaker 4>get me wrong, seven fifty is a win. That's on

0:15:44.560 --> 0:15:45.640
<v Speaker 4>a conservative low end.

0:15:45.720 --> 0:15:48.520
<v Speaker 6>Yeah right, but I mean again, you want to do

0:15:48.560 --> 0:15:51.680
<v Speaker 6>something great, true greatness? Can you do it twice? He

0:15:51.760 --> 0:15:53.480
<v Speaker 6>did it with a speed, that's true. I did it

0:15:53.520 --> 0:15:55.640
<v Speaker 6>with Yeah. What's to say you can't do it again?

0:15:56.640 --> 0:16:01.040
<v Speaker 6>But shit, you have to No, but you could. Yeah,

0:16:01.440 --> 0:16:02.040
<v Speaker 6>shout out.

0:16:01.920 --> 0:16:02.240
<v Speaker 5>The whole

0:16:04.640 --> 0:16:09.400
<v Speaker 6>My graduates from my school being force back drop back

0:16:09.560 --> 0:16:12.920
<v Speaker 6>drop or my drop back drop b drop