1 00:00:02,960 --> 00:00:08,440 Speaker 1: It's that time, time, time, time, Luck and load. 2 00:00:10,560 --> 00:00:12,960 Speaker 2: Michael Vari Show is on the air. 3 00:00:13,400 --> 00:00:17,279 Speaker 1: Right to remain silent. Anything you say can and will 4 00:00:17,320 --> 00:00:19,680 Speaker 1: be used against you in a court of law. You 5 00:00:19,720 --> 00:00:21,479 Speaker 1: have the right to speak to an attorney and have 6 00:00:21,480 --> 00:00:24,800 Speaker 1: an attorney president during any questioning. If you cannot afford 7 00:00:24,800 --> 00:00:27,120 Speaker 1: an attorney, when will be provided for you. 8 00:00:27,160 --> 00:00:28,240 Speaker 2: At the government's expense. 9 00:00:28,560 --> 00:00:30,840 Speaker 1: Do you understand these rights as I've just recited them 10 00:00:30,840 --> 00:00:31,120 Speaker 1: to you. 11 00:00:31,440 --> 00:00:34,800 Speaker 3: No precedents for taking a judge in this manner, and 12 00:00:34,840 --> 00:00:37,400 Speaker 3: I want to be really clear that what Judge Dougan 13 00:00:37,600 --> 00:00:40,760 Speaker 3: apparently did was what all of us should be doing, 14 00:00:41,120 --> 00:00:43,480 Speaker 3: and that is standing out for folks in our communities 15 00:00:43,680 --> 00:00:47,120 Speaker 3: who need support right now against the Trump regime more 16 00:00:47,159 --> 00:00:47,479 Speaker 3: than ever. 17 00:00:47,680 --> 00:00:51,120 Speaker 4: I got Stride Stride around my shoulder. 18 00:00:52,280 --> 00:00:56,920 Speaker 2: I got James James. He's about that time of year again. 19 00:00:59,160 --> 00:01:05,680 Speaker 2: I should I should really. 20 00:01:06,400 --> 00:01:07,959 Speaker 4: Keep a list of these sorts of things so I 21 00:01:07,959 --> 00:01:13,640 Speaker 4: don't have to spend an hour out back dictating and 22 00:01:13,680 --> 00:01:16,480 Speaker 4: then editing because it doesn't get it perfectly right, but 23 00:01:16,560 --> 00:01:20,800 Speaker 4: it's better than trying to type it all out. It's 24 00:01:20,800 --> 00:01:26,200 Speaker 4: that time of year where college kids are graduating from college, 25 00:01:26,640 --> 00:01:35,040 Speaker 4: law school, whatever they're doing and younger folks are looking 26 00:01:35,080 --> 00:01:40,720 Speaker 4: for a summer job or an internship, and so I 27 00:01:40,800 --> 00:01:43,000 Speaker 4: usually speak to this on the air. I hadn't written 28 00:01:43,000 --> 00:01:45,720 Speaker 4: about it in quite a while, but because I had 29 00:01:45,760 --> 00:01:49,760 Speaker 4: received several emails from parents, I thought I would use 30 00:01:49,800 --> 00:01:53,520 Speaker 4: this occasion to give you my advice on this. 31 00:01:53,680 --> 00:01:55,440 Speaker 2: You can take it or leave it. 32 00:01:55,880 --> 00:01:58,400 Speaker 4: This will be posted to the it's on the Facebook 33 00:01:58,400 --> 00:02:02,040 Speaker 4: page now, and it will be sent out on the 34 00:02:02,120 --> 00:02:07,320 Speaker 4: Daily Blast, which you can subscribe to. It's free. It's 35 00:02:07,400 --> 00:02:09,919 Speaker 4: six days a week, Monday through Saturday. We never sell 36 00:02:10,000 --> 00:02:13,480 Speaker 4: or share your email address. You can buy our merch 37 00:02:13,560 --> 00:02:16,600 Speaker 4: there and you can send me an email directly. That 38 00:02:16,680 --> 00:02:19,760 Speaker 4: is at Michael Berryshow dot com. If you sign up 39 00:02:19,800 --> 00:02:22,239 Speaker 4: for it'll say sign up for the Daily e Blast 40 00:02:22,360 --> 00:02:24,240 Speaker 4: or get Michael's daily email. Forget what it says, but 41 00:02:24,760 --> 00:02:27,799 Speaker 4: you'll get This will be included in today if you 42 00:02:27,800 --> 00:02:29,440 Speaker 4: would like to share it with someone else. 43 00:02:30,919 --> 00:02:31,680 Speaker 2: And it goes like this. 44 00:02:32,400 --> 00:02:34,240 Speaker 4: It's that time of year when I get a lot 45 00:02:34,280 --> 00:02:37,360 Speaker 4: of emails asking for help for people's kids finding a 46 00:02:37,440 --> 00:02:41,680 Speaker 4: job because they're graduating, or for their kids finding a 47 00:02:41,680 --> 00:02:46,640 Speaker 4: summer experience like an internship or a job. I'm going 48 00:02:46,680 --> 00:02:48,960 Speaker 4: to offer some advice based on decades of doing this. 49 00:02:49,639 --> 00:02:52,119 Speaker 4: I dictated this message and what should have probably been 50 00:02:53,960 --> 00:02:57,480 Speaker 4: by Ford? Based by Ford, what and the hell. 51 00:02:57,400 --> 00:02:58,200 Speaker 2: Did I even write? 52 00:02:58,440 --> 00:03:01,400 Speaker 4: I dictated this message no stone cls over and what 53 00:03:01,480 --> 00:03:04,640 Speaker 4: should have probably been by Ford based on whether someone 54 00:03:04,800 --> 00:03:07,519 Speaker 4: is in school seeking a summer experience or graduating seeking 55 00:03:07,560 --> 00:03:08,280 Speaker 4: a permanent job. 56 00:03:08,320 --> 00:03:09,480 Speaker 2: I have no idea what I meant there. 57 00:03:10,200 --> 00:03:13,400 Speaker 4: Oh, I know what I meant to say is some 58 00:03:13,480 --> 00:03:16,839 Speaker 4: of this advice is for kids that are not graduates, 59 00:03:17,400 --> 00:03:19,040 Speaker 4: and some of it is for people looking for a 60 00:03:19,040 --> 00:03:21,520 Speaker 4: permanent job, and so it applies differently. Okay, so some 61 00:03:21,600 --> 00:03:24,320 Speaker 4: of this won't apply depending on the situation. Please understand 62 00:03:24,320 --> 00:03:27,280 Speaker 4: that I cannot reply to every email or help every person. 63 00:03:27,680 --> 00:03:30,280 Speaker 4: When I spot cases where I can, I will. I 64 00:03:30,320 --> 00:03:32,280 Speaker 4: expect people who reach out and ask for help to 65 00:03:32,280 --> 00:03:35,280 Speaker 4: look at their emails for the response, and to jump 66 00:03:35,280 --> 00:03:38,600 Speaker 4: on the issue immediately. Otherwise don't ask. It shocks me 67 00:03:38,720 --> 00:03:43,440 Speaker 4: how many people will send an email asking for help 68 00:03:43,520 --> 00:03:46,160 Speaker 4: or guidance, and a week later you go, oh, I 69 00:03:46,160 --> 00:03:50,280 Speaker 4: don't realize you'd respond, you'd responded. I understand you may 70 00:03:50,320 --> 00:03:53,280 Speaker 4: not check your email very often, but what never mind? 71 00:03:53,560 --> 00:03:58,400 Speaker 4: Number one, your child should send the message, not you, 72 00:03:59,000 --> 00:04:01,280 Speaker 4: and I could have put in prints mama, because ninety 73 00:04:01,320 --> 00:04:03,200 Speaker 4: nine percent of the time it's mama's I know you 74 00:04:03,240 --> 00:04:05,880 Speaker 4: love your baby, but you're going to push your baby 75 00:04:05,880 --> 00:04:07,920 Speaker 4: out there. You want your kid to go to work 76 00:04:08,200 --> 00:04:11,400 Speaker 4: or to have an experience, have your kid write the email. 77 00:04:12,360 --> 00:04:14,480 Speaker 4: You can't do that for your child. Do you realize 78 00:04:14,520 --> 00:04:17,800 Speaker 4: how that looks. He's seventeen. If they are a minor, 79 00:04:18,120 --> 00:04:20,720 Speaker 4: have them copy you, because I don't want to communicate 80 00:04:20,720 --> 00:04:24,160 Speaker 4: with miners without their parent present. So if your kid 81 00:04:24,200 --> 00:04:26,520 Speaker 4: wants to write me an email, and it should come 82 00:04:26,520 --> 00:04:29,200 Speaker 4: from the kid, not you, have them copy you because 83 00:04:29,200 --> 00:04:31,719 Speaker 4: I'm not going to reply directly to a child unless 84 00:04:31,720 --> 00:04:34,240 Speaker 4: there is a parent copy. That should be your policy 85 00:04:34,240 --> 00:04:37,000 Speaker 4: when they communicate with any adult. Number two, whatever request 86 00:04:37,040 --> 00:04:39,520 Speaker 4: is being made should be in the subject line and 87 00:04:39,600 --> 00:04:42,039 Speaker 4: in the opening sentence. For example, I'm looking for a 88 00:04:42,040 --> 00:04:45,120 Speaker 4: permanent job in Houston. I'm graduating from Baylor with a 89 00:04:45,120 --> 00:04:47,919 Speaker 4: business degree next month. I can start June first, or 90 00:04:48,640 --> 00:04:51,039 Speaker 4: I'm a seventeen year old junior at Milby High School 91 00:04:51,040 --> 00:04:53,400 Speaker 4: looking for an unpaid work experience from June one to 92 00:04:53,480 --> 00:04:56,760 Speaker 4: June fifteen and engineering, preferably on the east or South 93 00:04:56,760 --> 00:05:02,479 Speaker 4: side of Houston. That is an important art that most 94 00:05:02,480 --> 00:05:05,640 Speaker 4: people never learn. When you are sending an email to 95 00:05:05,880 --> 00:05:09,440 Speaker 4: anyone from whom you want something, but especially a highly 96 00:05:09,480 --> 00:05:14,839 Speaker 4: busy person a CEO, for instance, don't send an email 97 00:05:14,880 --> 00:05:17,680 Speaker 4: where they have to ask you eight questions. You're the 98 00:05:17,720 --> 00:05:19,640 Speaker 4: one seeking something, not then I. 99 00:05:19,760 --> 00:05:20,320 Speaker 2: Like any turks? 100 00:05:20,400 --> 00:05:20,560 Speaker 3: Yep? 101 00:05:21,360 --> 00:05:24,200 Speaker 2: Okay? When where do you need to get paid? How 102 00:05:24,240 --> 00:05:24,720 Speaker 2: old are you? 103 00:05:25,560 --> 00:05:28,520 Speaker 4: These are things that if people would take a moment 104 00:05:29,080 --> 00:05:31,799 Speaker 4: before they hit the send button and think to themselves, 105 00:05:32,120 --> 00:05:34,800 Speaker 4: all right, I've drafted this, now let me read it. 106 00:05:35,520 --> 00:05:40,160 Speaker 4: What would I think? What questions might I have if 107 00:05:40,200 --> 00:05:45,360 Speaker 4: I was receiving this. Number three provide every background detail 108 00:05:45,440 --> 00:05:48,680 Speaker 4: anyone would need to know in the brief opening message. 109 00:05:49,240 --> 00:05:53,400 Speaker 4: Anticipate the obvious questions and answer them without waiting to 110 00:05:53,480 --> 00:05:54,040 Speaker 4: be asked. 111 00:05:54,480 --> 00:05:54,960 Speaker 2: Number four. 112 00:05:55,520 --> 00:05:57,480 Speaker 4: If you don't need to make money, go for an 113 00:05:57,520 --> 00:06:00,480 Speaker 4: experience some there's a great time to grow. Be willing 114 00:06:00,520 --> 00:06:05,320 Speaker 4: to do interesting things. Number five add value to the company. 115 00:06:06,040 --> 00:06:10,040 Speaker 4: I've driven forklifts, hauled bricks, painted, answered phones, delivered inner 116 00:06:10,120 --> 00:06:13,159 Speaker 4: office mail, and lots more. It gave me stories to 117 00:06:13,200 --> 00:06:16,400 Speaker 4: tell for the rest of my life. Number six, don't 118 00:06:16,400 --> 00:06:20,719 Speaker 4: be afraid to work a hospitality job. This industry hires quickly, 119 00:06:20,760 --> 00:06:23,600 Speaker 4: sometimes on the spot. Be ready to wash dishes or 120 00:06:23,600 --> 00:06:28,680 Speaker 4: sleep floor or sweep floors. Number seven. Be early, never late, 121 00:06:29,440 --> 00:06:33,640 Speaker 4: stay beyond your shift. Turn off your damn phone. Don't 122 00:06:33,680 --> 00:06:38,080 Speaker 4: even bring it to work. Focus. Be respectful, don't gossip 123 00:06:38,160 --> 00:06:42,240 Speaker 4: or complain or take offense. Be clean, washed, and presentable. 124 00:06:42,720 --> 00:06:47,200 Speaker 4: Never cuss. Drop the lingo, don't add bro to every student, 125 00:06:47,240 --> 00:06:51,320 Speaker 4: to every statement, and drop like as your default space filler. 126 00:06:51,760 --> 00:06:55,000 Speaker 4: These are adults, pretend to be one. Don't go out 127 00:06:55,000 --> 00:06:57,920 Speaker 4: on nights when you have work tomorrow, I'm great. Look 128 00:06:57,920 --> 00:07:00,279 Speaker 4: for things to be done and then do them, even 129 00:07:00,320 --> 00:07:04,000 Speaker 4: if not assigned. Do what you're asked. Don't make excuses. 130 00:07:04,320 --> 00:07:10,160 Speaker 4: Number nine. Thank the owner for this opportunity. Constantly people 131 00:07:10,280 --> 00:07:13,720 Speaker 4: invest in people who they like. The owner who gave 132 00:07:13,720 --> 00:07:16,440 Speaker 4: you this opportunity should be an advocate on your behalf 133 00:07:16,680 --> 00:07:19,520 Speaker 4: for the rest of your career, a referral, maybe a 134 00:07:19,520 --> 00:07:21,800 Speaker 4: future employer, maybe an investor. 135 00:07:22,600 --> 00:07:23,120 Speaker 2: Number ten. 136 00:07:23,680 --> 00:07:27,160 Speaker 4: Act like an adult, even if you're not advocate on 137 00:07:27,200 --> 00:07:31,400 Speaker 4: your own behalf. Don't let your parents do it for you. Communicate, 138 00:07:31,880 --> 00:07:36,840 Speaker 4: ask questions, listen, make eye contact, answer questions with sir 139 00:07:37,000 --> 00:07:40,560 Speaker 4: or madam afterward cosplay. If you have to pretend you're 140 00:07:40,600 --> 00:07:44,080 Speaker 4: in a movie being a professional, play the part, even 141 00:07:44,080 --> 00:07:47,400 Speaker 4: if that's not your natural personality. You'll be surprised how 142 00:07:47,400 --> 00:07:50,640 Speaker 4: easy it is if you play that character. Sometimes when 143 00:07:50,680 --> 00:07:53,120 Speaker 4: I send my assistant Emily to negotiate something or to 144 00:07:53,200 --> 00:07:56,160 Speaker 4: handle a problem, I'm blown away how well she does it. 145 00:07:56,840 --> 00:07:59,360 Speaker 4: She explained to me years ago that she just pretends 146 00:07:59,400 --> 00:08:02,400 Speaker 4: she's me and says things that she would not otherwise say, 147 00:08:02,920 --> 00:08:05,880 Speaker 4: and she's surprised how often it works out. I thought 148 00:08:05,880 --> 00:08:11,960 Speaker 4: that was just brilliant. So now is the time. It's late, actually, 149 00:08:12,040 --> 00:08:14,760 Speaker 4: but now is the time. Don't let your kids lay 150 00:08:14,840 --> 00:08:17,000 Speaker 4: up the entire summer. I'm all for sleeping in, I'm 151 00:08:17,040 --> 00:08:20,000 Speaker 4: all for having some time off. Have them do something. 152 00:08:20,040 --> 00:08:24,280 Speaker 4: These are great life experience opportunities. 153 00:08:26,960 --> 00:08:28,800 Speaker 2: This is the Michael Berry Show. 154 00:08:29,880 --> 00:08:32,240 Speaker 4: It is believed to be an illegal alien who stole 155 00:08:32,320 --> 00:08:38,480 Speaker 4: Christy Noam's purse. Surprise, pick pocketing is the least of 156 00:08:38,559 --> 00:08:39,760 Speaker 4: that person's crimes. 157 00:08:40,640 --> 00:08:41,800 Speaker 2: I feel certain. 158 00:08:43,880 --> 00:08:48,240 Speaker 4: MSNBC is melting down in real time over the yard 159 00:08:48,240 --> 00:08:50,760 Speaker 4: signs of White House put out, because now they can't 160 00:08:50,800 --> 00:08:54,360 Speaker 4: do their shot from their usual spot without those signs 161 00:08:54,360 --> 00:08:56,800 Speaker 4: being out there because they don't want people to know 162 00:08:57,559 --> 00:09:04,280 Speaker 4: that murderers and rapists and pedophile pedophiles, not the elected democrats, 163 00:09:04,400 --> 00:09:09,560 Speaker 4: new pedophiles or what we're letting in. They are bad, 164 00:09:09,880 --> 00:09:13,760 Speaker 4: bad people, just no way around that. I want to 165 00:09:13,800 --> 00:09:18,559 Speaker 4: go back over this list because I think it's very important. 166 00:09:20,600 --> 00:09:24,920 Speaker 4: You know, I'm not trying to make anybody keep up 167 00:09:24,960 --> 00:09:29,960 Speaker 4: with the Joneses, but I will tell you that I 168 00:09:30,080 --> 00:09:40,480 Speaker 4: have run in lots of different circles rich, poor, law degrees, doctors, architects, entrepreneurs, 169 00:09:40,760 --> 00:09:47,520 Speaker 4: small business owners, family business owners, past multiple generations, some 170 00:09:47,600 --> 00:09:49,840 Speaker 4: folks who make a lot of money and didn't go 171 00:09:49,880 --> 00:09:53,120 Speaker 4: to college, and some people who went to school forever 172 00:09:53,160 --> 00:09:56,199 Speaker 4: and don't make a lot of money, in everything in between, pastors, 173 00:09:56,200 --> 00:09:56,679 Speaker 4: you name it. 174 00:09:57,960 --> 00:10:03,280 Speaker 2: And fortunately a lot of people don't realize. 175 00:10:04,640 --> 00:10:11,360 Speaker 4: That there are opportunities for you and your children that 176 00:10:11,440 --> 00:10:19,600 Speaker 4: are available that nobody tells you about unless your girlfriend 177 00:10:19,720 --> 00:10:22,360 Speaker 4: tells you. You know, I'm having my son go to 178 00:10:22,400 --> 00:10:26,560 Speaker 4: work here, having my son do this this summer. You 179 00:10:26,640 --> 00:10:29,640 Speaker 4: might you get so busy, especially a lot of single parents. 180 00:10:29,679 --> 00:10:34,079 Speaker 4: I get it, you're busy doing what you do, but 181 00:10:34,120 --> 00:10:38,000 Speaker 4: for your kids and grandkids the summer is a quarter 182 00:10:38,080 --> 00:10:42,320 Speaker 4: of the year. It's more than that when you take 183 00:10:42,360 --> 00:10:48,520 Speaker 4: out Christmas and holidays of the school season. I don't 184 00:10:48,520 --> 00:10:50,160 Speaker 4: want to use the word get ahead because it's a 185 00:10:50,240 --> 00:10:54,040 Speaker 4: very rat race term. This applies differently to different people. 186 00:10:54,679 --> 00:10:59,359 Speaker 4: I'm just going to say this, if you think strategically 187 00:10:59,720 --> 00:11:03,040 Speaker 4: about giving a child an opportunity, you're not gonna spark 188 00:11:03,120 --> 00:11:06,880 Speaker 4: anything yourself. They have to want it, and not everybody 189 00:11:06,880 --> 00:11:11,680 Speaker 4: wants to be a billionaire or accomplished or in any way, 190 00:11:11,800 --> 00:11:14,600 Speaker 4: shape or form. Some people want to graduate high school, 191 00:11:14,640 --> 00:11:17,000 Speaker 4: get married, have a baby, and be a wonderful mom. 192 00:11:17,040 --> 00:11:18,480 Speaker 2: And I love that I do. 193 00:11:19,559 --> 00:11:24,000 Speaker 4: But for those who are trying to figure out, because 194 00:11:24,000 --> 00:11:26,680 Speaker 4: I'm going to tell you we are about we are 195 00:11:26,960 --> 00:11:32,719 Speaker 4: well into a moment in American life, and this can 196 00:11:32,760 --> 00:11:36,400 Speaker 4: either depress you or motivate you. 197 00:11:36,400 --> 00:11:36,960 Speaker 2: You choose. 198 00:11:39,160 --> 00:11:43,160 Speaker 4: We are seeing more people added to the Forbes Billionaire 199 00:11:43,160 --> 00:11:46,920 Speaker 4: list at a faster rate than we ever have and 200 00:11:46,920 --> 00:11:50,680 Speaker 4: I'm going to tell you why that is. AI is 201 00:11:50,880 --> 00:11:54,679 Speaker 4: changing everything. Now, if your answer to that is to 202 00:11:54,760 --> 00:11:58,679 Speaker 4: be mad, that's not that's okay. 203 00:11:59,120 --> 00:12:01,000 Speaker 2: It's not going to bode well for you. 204 00:12:02,080 --> 00:12:04,720 Speaker 4: What's going to happen is that people who have a 205 00:12:04,800 --> 00:12:11,560 Speaker 4: company that's profiting a few million dollars because their biggest 206 00:12:11,600 --> 00:12:15,920 Speaker 4: cost is labor. They're going to be able to replace 207 00:12:16,040 --> 00:12:18,640 Speaker 4: a lot, not all, but a lot of the people 208 00:12:19,280 --> 00:12:28,520 Speaker 4: in their offices, invoice clerks, payments, receivable accounts, payable HR compliance, 209 00:12:29,080 --> 00:12:33,280 Speaker 4: a lot of things are going to be replaced by 210 00:12:33,679 --> 00:12:39,360 Speaker 4: clever coding. Now, for every ten jobs that's lost, it's 211 00:12:39,360 --> 00:12:43,320 Speaker 4: going to open up one or two, maybe more in 212 00:12:43,600 --> 00:12:47,320 Speaker 4: that code software. And there are going to be people 213 00:12:47,320 --> 00:12:49,440 Speaker 4: who are going to transition into coding because they're going 214 00:12:49,480 --> 00:12:52,600 Speaker 4: to understand that's the future. Just like there were people 215 00:12:52,640 --> 00:12:54,880 Speaker 4: who understood that electrical wire is going to need to 216 00:12:54,880 --> 00:12:59,120 Speaker 4: be pulled when construction occurs. Once they saw the electricity 217 00:12:59,200 --> 00:13:01,200 Speaker 4: thing coming in that looks like that people are going 218 00:13:01,280 --> 00:13:04,400 Speaker 4: to use that. Well, they were people who were left 219 00:13:04,400 --> 00:13:06,440 Speaker 4: out of that. The choice you're going to have to make, 220 00:13:07,480 --> 00:13:09,680 Speaker 4: and many people are self defeating. They're going to just 221 00:13:09,720 --> 00:13:11,400 Speaker 4: say I don't like that, I'm not going to do it, 222 00:13:11,480 --> 00:13:14,160 Speaker 4: and it's the end of the world, and that's the 223 00:13:14,200 --> 00:13:18,360 Speaker 4: world economic No, no, no, that's not that's not This 224 00:13:18,520 --> 00:13:21,600 Speaker 4: is whether we like it or not. This is what 225 00:13:21,640 --> 00:13:24,000 Speaker 4: would be called progress. And you're not going to slow 226 00:13:24,000 --> 00:13:26,440 Speaker 4: it down, and you're not going to stop it. So 227 00:13:27,640 --> 00:13:30,720 Speaker 4: what you're going to witness is a lot of what 228 00:13:30,760 --> 00:13:36,120 Speaker 4: we consider to be the middle class. The beauty of America, 229 00:13:36,160 --> 00:13:41,559 Speaker 4: particularly most white Americans and some Black Americans, is that 230 00:13:41,600 --> 00:13:42,640 Speaker 4: most people think. 231 00:13:42,440 --> 00:13:43,520 Speaker 2: They're in the middle class. 232 00:13:44,920 --> 00:13:49,480 Speaker 4: There are working class people who are not in the 233 00:13:49,520 --> 00:13:52,320 Speaker 4: middle class, but the good news is they believe they are. 234 00:13:53,120 --> 00:13:55,360 Speaker 4: The middle class is a very expansive thing for them. 235 00:13:55,679 --> 00:13:58,520 Speaker 4: It's good to believe you live in the American dream, 236 00:13:58,960 --> 00:14:02,040 Speaker 4: even if you're struggling, even if you have it much harder, 237 00:14:02,600 --> 00:14:04,920 Speaker 4: even if your trajectory is ten years from now, you're 238 00:14:04,920 --> 00:14:09,120 Speaker 4: losing ground every day. Inflation is taking your money. Every 239 00:14:09,240 --> 00:14:12,160 Speaker 4: single day you put your money, you put ten thousand 240 00:14:12,200 --> 00:14:15,040 Speaker 4: dollars in a savings account, and in ten years you're 241 00:14:15,080 --> 00:14:19,560 Speaker 4: going to have effectively far less than ten thousand dollars 242 00:14:20,840 --> 00:14:23,760 Speaker 4: at the rate you're going to get relative to inflation. 243 00:14:25,280 --> 00:14:28,880 Speaker 4: So then you've got people who are above middle class. 244 00:14:29,400 --> 00:14:32,120 Speaker 4: And the French and Germans have words for these, for 245 00:14:32,160 --> 00:14:37,040 Speaker 4: this sector of society, but they also believe they're middle 246 00:14:37,080 --> 00:14:40,160 Speaker 4: class because they don't want to be bourgeoisie. They don't 247 00:14:40,200 --> 00:14:42,720 Speaker 4: want to be a step above. They don't want to 248 00:14:42,760 --> 00:14:47,040 Speaker 4: be the poor rich people, right. They prefer to themselves 249 00:14:47,080 --> 00:14:49,160 Speaker 4: think of themselves in that big swell. So we think 250 00:14:49,160 --> 00:14:52,120 Speaker 4: of American society as a bell curve, and to some 251 00:14:52,320 --> 00:14:55,120 Speaker 4: extent that's true. And I'd have to look at the 252 00:14:55,200 --> 00:14:58,440 Speaker 4: numbers more. But let's say joint income. And this was 253 00:14:58,480 --> 00:15:00,560 Speaker 4: why women had to go back to work. Why women 254 00:15:00,600 --> 00:15:03,160 Speaker 4: went to work because they didn't want there to live 255 00:15:03,200 --> 00:15:04,440 Speaker 4: on their husband's forty thousand. 256 00:15:05,000 --> 00:15:07,240 Speaker 2: They wanted to double their forty thousand to eighty. 257 00:15:08,000 --> 00:15:12,560 Speaker 4: A cop and a firefighter, a secretary and a teacher, 258 00:15:13,280 --> 00:15:15,800 Speaker 4: people can get over one hundred thousand dollars. Hell, that's 259 00:15:15,840 --> 00:15:19,960 Speaker 4: practically the working part today. It is bystands, particularly if 260 00:15:19,960 --> 00:15:22,120 Speaker 4: you live in a big city, particularly if you live 261 00:15:22,360 --> 00:15:25,840 Speaker 4: in the big city where real estate crunches you in. 262 00:15:25,840 --> 00:15:27,880 Speaker 4: The real estate taxes, and nobody's talking about the real 263 00:15:27,920 --> 00:15:32,000 Speaker 4: estate taxes. Real estate taxes are the biggest issue I 264 00:15:32,040 --> 00:15:32,920 Speaker 4: hear about right now. 265 00:15:33,000 --> 00:15:33,800 Speaker 2: It is horrible. 266 00:15:35,040 --> 00:15:37,880 Speaker 4: So what's going to happen is that all of those 267 00:15:38,000 --> 00:15:43,040 Speaker 4: jobs that especially two income families or single moms were 268 00:15:43,080 --> 00:15:47,520 Speaker 4: holding in an office environment, they're going away. They are 269 00:15:47,680 --> 00:15:50,040 Speaker 4: not going to be here. And it's going to happen. 270 00:15:50,600 --> 00:15:54,840 Speaker 4: It's going to give you whiplash, breakneck speed. It is 271 00:15:54,920 --> 00:16:00,080 Speaker 4: happening right now. The coding is being done right now. 272 00:16:00,160 --> 00:16:04,160 Speaker 4: Is that is done and as it is implemented, the 273 00:16:04,240 --> 00:16:07,360 Speaker 4: NBA's are going to come in private equity groups and 274 00:16:07,440 --> 00:16:09,160 Speaker 4: they're going to buy out more and more of these 275 00:16:09,200 --> 00:16:12,440 Speaker 4: companies and they're gonna consolidate them. It's whether it's a 276 00:16:12,520 --> 00:16:15,880 Speaker 4: roll up, there's there's a lot of different entities you 277 00:16:15,920 --> 00:16:18,080 Speaker 4: can use to do this, but you see this, the 278 00:16:18,640 --> 00:16:21,880 Speaker 4: family owned plumbing company, the family owned electrical company, the 279 00:16:21,920 --> 00:16:25,320 Speaker 4: family owned restaurant. For that money, they're going to replace 280 00:16:25,520 --> 00:16:28,520 Speaker 4: all of those those jobs in the office of clerical 281 00:16:28,600 --> 00:16:33,040 Speaker 4: jobs with AI overnight, and those people are ill equipped 282 00:16:33,040 --> 00:16:36,000 Speaker 4: to find another job. We are about and that that 283 00:16:36,040 --> 00:16:37,920 Speaker 4: goes to what your kids should be doing this summer. 284 00:16:37,920 --> 00:16:41,480 Speaker 2: Hold on, it's cleans key, it clings key. It's done 285 00:16:41,480 --> 00:16:49,800 Speaker 2: for a girl and the boy. I like lac Aberry show. 286 00:16:51,680 --> 00:16:57,760 Speaker 4: The world is coming at you fast, and you've got 287 00:16:57,800 --> 00:17:01,760 Speaker 4: to make decisions that are going to put yourself. You've 288 00:17:01,800 --> 00:17:04,119 Speaker 4: got to help your children make decisions that are going 289 00:17:04,200 --> 00:17:09,760 Speaker 4: to put them in a position to succeed. However you 290 00:17:10,040 --> 00:17:14,959 Speaker 4: define succeed. I've known people to live in trailer parks, 291 00:17:15,920 --> 00:17:17,399 Speaker 4: drive no beat up truck. 292 00:17:18,720 --> 00:17:20,200 Speaker 2: That they're making notes. 293 00:17:19,880 --> 00:17:22,480 Speaker 4: On, mind you, because they've aught it on a used lot, 294 00:17:23,480 --> 00:17:30,639 Speaker 4: have no health insurance, and they find happiness. If that 295 00:17:30,760 --> 00:17:34,680 Speaker 4: is success for you, so be it. I know people 296 00:17:34,720 --> 00:17:40,600 Speaker 4: who are extraordinarily wealthy and they're not happy. I don't 297 00:17:40,640 --> 00:17:43,560 Speaker 4: know where success lies for you. I am going to 298 00:17:43,640 --> 00:17:46,200 Speaker 4: tell you what I believe is happening, and it's happening fast, 299 00:17:47,720 --> 00:17:54,440 Speaker 4: and that is that the world is changing faster, much 300 00:17:54,480 --> 00:17:58,639 Speaker 4: faster than it ever did. And we are we are 301 00:17:58,720 --> 00:18:03,440 Speaker 4: about to witness many of you've already seen it. The 302 00:18:04,520 --> 00:18:10,840 Speaker 4: speed with which technology is transformative in our lives has 303 00:18:10,880 --> 00:18:15,320 Speaker 4: gone from a generation or more. You think Big Blue 304 00:18:15,359 --> 00:18:18,600 Speaker 4: and IBM back in the day, the big master of computer. 305 00:18:19,920 --> 00:18:22,800 Speaker 4: That was the writing on the wall. But you could 306 00:18:22,880 --> 00:18:25,640 Speaker 4: start and end your career before technology replaced you if you. 307 00:18:25,560 --> 00:18:28,359 Speaker 2: Did it right. That is no longer going to be 308 00:18:28,400 --> 00:18:28,760 Speaker 2: the case. 309 00:18:30,520 --> 00:18:34,080 Speaker 4: And so what we're going to witness is the people 310 00:18:34,680 --> 00:18:39,520 Speaker 4: in control of capital, say private equity buying these h 311 00:18:39,600 --> 00:18:44,040 Speaker 4: back companies. Listeners sent me an email Chris sits rights 312 00:18:44,040 --> 00:18:47,280 Speaker 4: from the Wall Street Journal. Private equity investors have purchased 313 00:18:47,320 --> 00:18:52,280 Speaker 4: nearly eight hundred HVAC plumbing and electrical companies since twenty 314 00:18:52,320 --> 00:18:56,040 Speaker 4: twenty two alone. That's three years according to data from 315 00:18:56,080 --> 00:19:03,200 Speaker 4: Pitchbook eight one hundred h fact plumbing electrical companies. Now, 316 00:19:05,200 --> 00:19:08,040 Speaker 4: what that means a lot of mom and pop's just 317 00:19:08,080 --> 00:19:12,159 Speaker 4: got rich. Nobody thinks about that. When I was on 318 00:19:12,240 --> 00:19:14,120 Speaker 4: city Council, there was a state rep who was trying 319 00:19:14,119 --> 00:19:16,200 Speaker 4: to get paid by Bob Perry if Perry Holmes and 320 00:19:16,240 --> 00:19:20,679 Speaker 4: did did get paid. Actually, and what he said. He 321 00:19:20,760 --> 00:19:26,280 Speaker 4: went from saying we need Starbucks in the hood. We 322 00:19:26,320 --> 00:19:28,919 Speaker 4: don't have no Starbucks in the hood. We don't have 323 00:19:28,960 --> 00:19:31,560 Speaker 4: grocery stores in the hood. We don't have nothing nice 324 00:19:31,600 --> 00:19:32,159 Speaker 4: in the hood. 325 00:19:32,480 --> 00:19:35,320 Speaker 2: Because he's been his whole life racism, racism. You see 326 00:19:35,320 --> 00:19:35,800 Speaker 2: these people. 327 00:19:37,720 --> 00:19:42,520 Speaker 4: I mean, if Pete Hegsath steps down as Secretary of Defense, 328 00:19:43,359 --> 00:19:47,320 Speaker 4: I'm not suggesting you should. There are real legitimate rumblings 329 00:19:47,320 --> 00:19:53,640 Speaker 4: in the Department of Defense. I think Trump is losing patience. 330 00:19:54,160 --> 00:19:58,800 Speaker 4: But whatever happens there, that be that as many. If 331 00:19:58,800 --> 00:20:02,560 Speaker 4: he does, the room candidate to replace him is Wesley Hunt. 332 00:20:02,600 --> 00:20:05,160 Speaker 4: And my understanding is that's who the president wants, which 333 00:20:05,200 --> 00:20:08,679 Speaker 4: wouldn't surprise me. Wesley's a West Point Guy's a helicopter pilot. 334 00:20:10,200 --> 00:20:14,760 Speaker 4: He's a very likable guy. He's a he's a striking uh. 335 00:20:14,840 --> 00:20:21,200 Speaker 4: He has a striking profile as a smart conservative black 336 00:20:21,280 --> 00:20:24,080 Speaker 4: man from Houston elected in a white district. 337 00:20:25,200 --> 00:20:27,280 Speaker 2: You know this ain't Lloyd Austin. How about that? 338 00:20:29,080 --> 00:20:36,159 Speaker 4: Anyway, when this particular state rep a Democrat, there are 339 00:20:36,160 --> 00:20:40,000 Speaker 4: always Democrats who do this was criticizing Bob Perry for 340 00:20:40,040 --> 00:20:44,640 Speaker 4: coming into the hood. He was saying that they're gentrifying 341 00:20:44,720 --> 00:20:49,159 Speaker 4: the hood. So let's get this straight. You want the 342 00:20:49,200 --> 00:20:54,160 Speaker 4: poor black neighborhood of Third Ward to have nice things 343 00:20:54,680 --> 00:20:58,960 Speaker 4: that poor people can't afford. You want the poor black 344 00:20:59,000 --> 00:21:04,680 Speaker 4: neighborhood of the Third Ward and beyond to have nice 345 00:21:04,720 --> 00:21:09,119 Speaker 4: things and lower crime and all of these things. 346 00:21:09,960 --> 00:21:12,119 Speaker 2: But you don't want anybody. 347 00:21:11,600 --> 00:21:15,399 Speaker 4: Moving in that can afford to eat at those places 348 00:21:15,480 --> 00:21:17,760 Speaker 4: and drink at those places and buy groceries there. 349 00:21:18,520 --> 00:21:21,720 Speaker 2: Because I have news for you. The little old lady, 350 00:21:21,720 --> 00:21:22,440 Speaker 2: the little old. 351 00:21:22,400 --> 00:21:25,320 Speaker 4: Lady, poor black lady that's raising her her kids, that 352 00:21:25,440 --> 00:21:27,359 Speaker 4: raised her kids. Now she's raising her grandkids and her 353 00:21:27,359 --> 00:21:29,280 Speaker 4: great grandkids. And she's just trying to stay alive long 354 00:21:29,359 --> 00:21:31,320 Speaker 4: enough to get them out of high school. She can't 355 00:21:31,320 --> 00:21:33,680 Speaker 4: afford to eat at the grocery store or buy groceries 356 00:21:33,680 --> 00:21:36,400 Speaker 4: at the stores. You want the high end, a cheap 357 00:21:36,400 --> 00:21:37,920 Speaker 4: what's the high end? Agib called. 358 00:21:39,320 --> 00:21:40,280 Speaker 2: There's a term for it. 359 00:21:40,280 --> 00:21:43,600 Speaker 4: They got a fancy term for like there's there's pantry, 360 00:21:43,600 --> 00:21:45,680 Speaker 4: which is a small one, and they got a cheap 361 00:21:45,880 --> 00:21:49,480 Speaker 4: what central market. They want these things to come into 362 00:21:49,480 --> 00:21:53,480 Speaker 4: the hood. Nobody there will shop there. If you look 363 00:21:53,520 --> 00:22:00,000 Speaker 4: at the uh Paul Jacob of Jacob's Barbecue, he says, 364 00:22:00,160 --> 00:22:05,880 Speaker 4: photos of the people who come in to to eat there, 365 00:22:06,800 --> 00:22:08,560 Speaker 4: ninety five percent of them are white. All the people 366 00:22:08,600 --> 00:22:11,040 Speaker 4: that came because we talked about it, Will Michael, all 367 00:22:11,080 --> 00:22:15,159 Speaker 4: your listeners are white. Not true, Absolutely not true. That 368 00:22:15,280 --> 00:22:18,600 Speaker 4: story got out, That story was out on KPRC. That 369 00:22:18,600 --> 00:22:21,120 Speaker 4: story was out in outlets that don't listen to the show. 370 00:22:22,720 --> 00:22:24,680 Speaker 4: If you look at who is stepping up to help him, 371 00:22:26,160 --> 00:22:28,320 Speaker 4: well that might be a money question. 372 00:22:28,480 --> 00:22:28,959 Speaker 2: I don't know. 373 00:22:30,080 --> 00:22:33,119 Speaker 4: But here's the point I was trying to make is 374 00:22:33,160 --> 00:22:35,080 Speaker 4: they didn't want Bob Perry or Perry Holmes to come 375 00:22:35,080 --> 00:22:39,720 Speaker 4: in and buy off these old homes and build town 376 00:22:39,760 --> 00:22:45,119 Speaker 4: homes that white gays and dinks. The double income, no 377 00:22:45,280 --> 00:22:49,080 Speaker 4: kids would move into. They didn't want that. But what 378 00:22:49,119 --> 00:22:56,320 Speaker 4: nobody talked about was Rose of Mae Jones and Venita 379 00:22:56,400 --> 00:23:01,359 Speaker 4: Smith had houses that they were able to sell at 380 00:23:01,400 --> 00:23:03,160 Speaker 4: a premium. 381 00:23:03,200 --> 00:23:06,600 Speaker 2: Nobody wanted to buy that house. Nobody could buy that house. 382 00:23:06,600 --> 00:23:09,720 Speaker 4: So they had a little shotgun shack and they got 383 00:23:09,720 --> 00:23:13,480 Speaker 4: paid more than it would have been worth otherwise. And 384 00:23:13,520 --> 00:23:15,160 Speaker 4: you know what that did to the people on either 385 00:23:15,200 --> 00:23:19,080 Speaker 4: side of them. It raised their values. If you're able 386 00:23:19,119 --> 00:23:22,120 Speaker 4: to hold out and be the last one left. Bob 387 00:23:22,160 --> 00:23:25,280 Speaker 4: Perry didn't want to build ten townhomes in a row 388 00:23:25,640 --> 00:23:30,040 Speaker 4: and number five in the middle be a shack looking 389 00:23:30,119 --> 00:23:33,920 Speaker 4: like the front porch of Boys and Hood. So you're 390 00:23:33,920 --> 00:23:37,359 Speaker 4: gonna you're the holdout, you're gonna get top dollar. Nobody 391 00:23:37,520 --> 00:23:45,320 Speaker 4: talked about the wealth transfer that occurred from that company 392 00:23:46,040 --> 00:23:50,600 Speaker 4: to these mostly little old lady black owners that bought 393 00:23:50,600 --> 00:23:54,680 Speaker 4: these houses years ago and put down one hundred dollars 394 00:23:54,680 --> 00:23:57,439 Speaker 4: on it that they could barely put down on a 395 00:23:57,440 --> 00:23:59,720 Speaker 4: thirty year mortgage till they paid it off and raised 396 00:23:59,720 --> 00:24:02,800 Speaker 4: more generations. Now they're getting a nice chunk of change 397 00:24:02,880 --> 00:24:06,280 Speaker 4: that'll take care of them for their retirement. Now we 398 00:24:06,400 --> 00:24:09,639 Speaker 4: talked about that, well, transfer. See, people don't think in 399 00:24:09,720 --> 00:24:12,199 Speaker 4: terms of wealth transfer. People don't think in terms of 400 00:24:12,200 --> 00:24:15,080 Speaker 4: who was helped. All they see is we got a 401 00:24:15,160 --> 00:24:17,240 Speaker 4: nice black neighborhood with just a bunch of black people 402 00:24:17,240 --> 00:24:19,479 Speaker 4: walking around here shooting each other, and you're gonna take 403 00:24:19,520 --> 00:24:20,240 Speaker 4: it away from us. 404 00:24:20,280 --> 00:24:21,720 Speaker 2: Where we gonna go to shoot each other. 405 00:24:22,840 --> 00:24:24,680 Speaker 4: Well, there's a lot of people that wanted out of there, 406 00:24:24,960 --> 00:24:26,280 Speaker 4: and a lot of people want a top dollar for 407 00:24:26,320 --> 00:24:28,920 Speaker 4: their house and they can find another place to live 408 00:24:29,320 --> 00:24:31,760 Speaker 4: somewhere else, and this neighborhood will change. 409 00:24:32,640 --> 00:24:32,840 Speaker 2: Right. 410 00:24:33,480 --> 00:24:36,880 Speaker 4: Well, there's a lot of mom and pops in one 411 00:24:36,880 --> 00:24:41,600 Speaker 4: generation that are gonna have money. Now if that wealth 412 00:24:41,640 --> 00:24:45,800 Speaker 4: transfer from private equity to these mom and pop shops, 413 00:24:46,640 --> 00:24:50,440 Speaker 4: If all that occasions is people get a nice place 414 00:24:50,480 --> 00:24:53,160 Speaker 4: on Lake Austin or a nice place on Lake Travis 415 00:24:53,920 --> 00:24:57,360 Speaker 4: or Hershey Bay and a nice house in the country 416 00:24:58,240 --> 00:24:59,960 Speaker 4: and they buy their they give their kids a down 417 00:25:00,119 --> 00:25:02,960 Speaker 4: payment on the house because they'll give the kids a 418 00:25:02,960 --> 00:25:05,000 Speaker 4: grand kid, and they set up an education trust fun. 419 00:25:05,160 --> 00:25:09,280 Speaker 2: If that's all that happens with that well transfer, that's 420 00:25:09,320 --> 00:25:11,000 Speaker 2: going to be a net loss to society. 421 00:25:11,119 --> 00:25:14,120 Speaker 4: And we'll tell you because that's a one time opportunity 422 00:25:14,160 --> 00:25:19,520 Speaker 4: for people to change to create generational wealth and not 423 00:25:19,800 --> 00:25:24,720 Speaker 4: just get a new boat. 424 00:25:24,040 --> 00:25:27,680 Speaker 2: Get closing time. When you're listening to the Michael Berry. 425 00:25:27,400 --> 00:25:34,840 Speaker 4: Show, I'm not trying to depress you with my vision 426 00:25:34,880 --> 00:25:38,520 Speaker 4: of what's going to happen. But by the same token, 427 00:25:38,520 --> 00:25:39,679 Speaker 4: I think a lot of people need to wake up 428 00:25:39,680 --> 00:25:41,879 Speaker 4: and realize what's happening. The writing is on the wall 429 00:25:46,320 --> 00:25:49,240 Speaker 4: these mom and pop shops, which is where you most 430 00:25:49,240 --> 00:25:52,680 Speaker 4: want to work. You want to work where the owner's there. 431 00:25:54,119 --> 00:25:57,080 Speaker 4: You know, you watch his kids grow up, Your kids 432 00:25:57,119 --> 00:26:01,320 Speaker 4: come to the office and knock around. Maybe once a month, 433 00:26:01,400 --> 00:26:04,520 Speaker 4: his wife hosts a backyard barbecue. 434 00:26:03,960 --> 00:26:06,399 Speaker 2: And everybody goes over. And this is a family place. 435 00:26:06,440 --> 00:26:08,320 Speaker 2: This is a nice place to work. This is it 436 00:26:09,280 --> 00:26:09,800 Speaker 2: that is. 437 00:26:09,760 --> 00:26:14,159 Speaker 4: Going away because the private equity firms don't do that. 438 00:26:16,080 --> 00:26:19,840 Speaker 4: They may rent out a bowling alley for some highly 439 00:26:19,920 --> 00:26:24,399 Speaker 4: contrived what is the term they use, the corporate term 440 00:26:24,400 --> 00:26:25,840 Speaker 4: that we're all bonding? 441 00:26:25,880 --> 00:26:28,199 Speaker 2: What is that? There's there's a term for that. And 442 00:26:28,240 --> 00:26:31,960 Speaker 2: they announced this thir What Yeah, this. 443 00:26:32,000 --> 00:26:36,920 Speaker 4: Thursday at six, everybody gather, We're going to do team building. 444 00:26:37,640 --> 00:26:41,440 Speaker 4: But I think you're going to see You're going to 445 00:26:41,480 --> 00:26:47,760 Speaker 4: see the diminution of the individual and their importance in 446 00:26:47,840 --> 00:26:53,359 Speaker 4: the operation of a business. Going forward, you're going to 447 00:26:53,400 --> 00:26:56,399 Speaker 4: have fewer employees. You will be able to do more 448 00:26:57,160 --> 00:27:01,399 Speaker 4: with fewer employees, labor being typically the largest costs. The 449 00:27:01,480 --> 00:27:04,080 Speaker 4: other thing is going to happen. And I don't think 450 00:27:04,119 --> 00:27:07,720 Speaker 4: people I don't know why people would need to know. 451 00:27:07,760 --> 00:27:12,399 Speaker 4: This doesn't affect most people. I think office buildings, I 452 00:27:12,400 --> 00:27:15,080 Speaker 4: think we're going to have fewer people. Then we're gonna 453 00:27:15,080 --> 00:27:20,320 Speaker 4: have a they we have a lower need for office 454 00:27:20,359 --> 00:27:25,280 Speaker 4: space in ten years than we do today, despite that 455 00:27:25,320 --> 00:27:27,000 Speaker 4: we'll have more people. In fact, I think we'll have 456 00:27:27,080 --> 00:27:35,040 Speaker 4: considerably lower that's already occurring vacancy in office space. I'm 457 00:27:35,080 --> 00:27:37,879 Speaker 4: not looking at a number. I'm going by by reports 458 00:27:37,880 --> 00:27:40,639 Speaker 4: I get from people in the industry. But vacancy in 459 00:27:40,720 --> 00:27:43,600 Speaker 4: office space I suspect is higher right now than it's 460 00:27:43,640 --> 00:27:48,000 Speaker 4: been since the oil bust of the late seventies early eighties. 461 00:27:48,640 --> 00:27:51,440 Speaker 4: I suspect that's true. And a lot of offices came 462 00:27:51,480 --> 00:27:55,800 Speaker 4: on line since then, So especially your lower grade deferred 463 00:27:55,800 --> 00:28:01,600 Speaker 4: maintenance ugly office buildings, they're suffering right now. A lot 464 00:28:01,600 --> 00:28:07,280 Speaker 4: of that transition to warehouse UH light industrial light industrial 465 00:28:07,440 --> 00:28:11,560 Speaker 4: just means a distribution center. And it's not just Amazon. 466 00:28:11,600 --> 00:28:14,880 Speaker 4: People think it's just Amazon. It's so much more than that, 467 00:28:15,040 --> 00:28:17,199 Speaker 4: ghost kitchens, you know, you name it, a lot of 468 00:28:17,200 --> 00:28:18,680 Speaker 4: these things, a lot. 469 00:28:18,480 --> 00:28:20,040 Speaker 2: Of a lot of distributors. 470 00:28:20,440 --> 00:28:22,120 Speaker 4: Can't tell you how many how many people I know 471 00:28:23,280 --> 00:28:26,480 Speaker 4: that have somewhere between a single unit at a self 472 00:28:26,520 --> 00:28:31,879 Speaker 4: storage to an entire warehouse, and they receive products and 473 00:28:31,920 --> 00:28:34,880 Speaker 4: they manage their relationships and then they distribute products. 474 00:28:35,920 --> 00:28:37,160 Speaker 2: So what are you to do? 475 00:28:37,359 --> 00:28:39,360 Speaker 4: It means that you're not going to have a job 476 00:28:39,440 --> 00:28:42,720 Speaker 4: as a clerk in ten years unless you stay with 477 00:28:42,800 --> 00:28:47,120 Speaker 4: the company you're at. And for whatever reason, it the 478 00:28:47,120 --> 00:28:50,880 Speaker 4: the technology is going to hit different people harder and faster. 479 00:28:51,480 --> 00:28:55,480 Speaker 4: But it's going to happen overnight. It's going to happen overnight, 480 00:28:55,600 --> 00:28:58,920 Speaker 4: Like I guess, best example I can think of immediately 481 00:28:59,560 --> 00:29:06,320 Speaker 4: is the Me Too movement. Titans of comedy, movie politics 482 00:29:06,640 --> 00:29:10,560 Speaker 4: who couldn't be touched. All of a sudden, boom, they 483 00:29:10,600 --> 00:29:13,880 Speaker 4: were done, they were finished, that didn't exist anymore. That 484 00:29:13,920 --> 00:29:21,240 Speaker 4: movement happened overnight. And what's going to happen is that companies, 485 00:29:21,880 --> 00:29:26,360 Speaker 4: investors are going to grow way richer because it's scalable now. 486 00:29:27,240 --> 00:29:28,120 Speaker 3: So the. 487 00:29:29,760 --> 00:29:35,520 Speaker 4: Greatest inability to grow and prosper for equity right now 488 00:29:37,120 --> 00:29:45,000 Speaker 4: is the limitation on human beings in every industry. You ask, 489 00:29:45,120 --> 00:29:47,440 Speaker 4: as I do every day a restaurant owner, what's your 490 00:29:47,480 --> 00:29:48,120 Speaker 4: biggest challenge? 491 00:29:48,160 --> 00:29:48,440 Speaker 2: People? 492 00:29:48,920 --> 00:29:51,880 Speaker 4: They can't get people. I can't get them. I know 493 00:29:51,920 --> 00:29:56,360 Speaker 4: people that own franchises. God help you, God help you. 494 00:29:56,360 --> 00:29:58,200 Speaker 4: If you saw what's coming through the door to go 495 00:29:58,240 --> 00:30:01,240 Speaker 4: to work there, I mean, you're lucky. If they only 496 00:30:01,240 --> 00:30:04,120 Speaker 4: have a couple felonies, if they can write their name, 497 00:30:06,480 --> 00:30:09,520 Speaker 4: if they don't smell like a sewer plant. 498 00:30:10,760 --> 00:30:13,520 Speaker 2: Sewage or sewer sewage. 499 00:30:14,040 --> 00:30:19,880 Speaker 4: Yeah, if they can speak English with basic proficiency and 500 00:30:19,920 --> 00:30:24,080 Speaker 4: they were born here. These are the kind of realities 501 00:30:24,080 --> 00:30:26,480 Speaker 4: we're seeing. And what you're going to see us plunged 502 00:30:26,520 --> 00:30:30,000 Speaker 4: into is a third world type standard where you've got 503 00:30:30,000 --> 00:30:33,680 Speaker 4: the really rich and they're really poor, and then you're 504 00:30:33,720 --> 00:30:35,720 Speaker 4: going to have a lot of displaced people in the 505 00:30:35,760 --> 00:30:41,920 Speaker 4: middle displaced in the way that manufacturing jobs were lost 506 00:30:42,240 --> 00:30:45,080 Speaker 4: for several generations. You're going to have people lose their 507 00:30:45,160 --> 00:30:47,320 Speaker 4: jobs that couldn't imagine losing their jobs, and they're not 508 00:30:47,360 --> 00:30:50,600 Speaker 4: going to be replaced by a human being. It's a 509 00:30:50,640 --> 00:30:52,320 Speaker 4: dirty little secret, and there's no reason for you to 510 00:30:52,320 --> 00:30:55,200 Speaker 4: get mad at it. It's reality. It's like arguing with gravity. 511 00:30:56,480 --> 00:31:00,480 Speaker 4: When private equity buys a company, they do not that 512 00:31:00,640 --> 00:31:03,080 Speaker 4: company because they think it's really nice and they want 513 00:31:03,080 --> 00:31:04,880 Speaker 4: to tell people they own that company and we're going 514 00:31:04,960 --> 00:31:07,280 Speaker 4: to keep things exactly the way they are. Some people 515 00:31:07,320 --> 00:31:10,600 Speaker 4: will say they are they bought that company to make money, 516 00:31:11,280 --> 00:31:13,040 Speaker 4: and by the way, you can't tell me you'd like 517 00:31:13,080 --> 00:31:15,080 Speaker 4: to make more money and then be mad at other 518 00:31:15,080 --> 00:31:17,479 Speaker 4: people trying to make more money. Everybody's trying to make 519 00:31:17,520 --> 00:31:21,600 Speaker 4: more money. Private equity figured out how to go in 520 00:31:22,600 --> 00:31:29,959 Speaker 4: and find undervalued businesses that give that business a premium 521 00:31:30,320 --> 00:31:33,360 Speaker 4: over what they believe their business was worth and still 522 00:31:33,400 --> 00:31:36,760 Speaker 4: ring out multiples of that. Because what you start doing 523 00:31:36,840 --> 00:31:40,400 Speaker 4: is you come in and you go, oh, they don't 524 00:31:40,440 --> 00:31:43,720 Speaker 4: have good inventory control, they have a lot of waste, 525 00:31:44,720 --> 00:31:48,360 Speaker 4: they have too many people. They're going to find ways 526 00:31:48,400 --> 00:31:52,560 Speaker 4: to cut before they ever look to grow. The first 527 00:31:52,760 --> 00:31:55,520 Speaker 4: thing you do is cut. It's much easier to cut 528 00:31:55,560 --> 00:31:57,760 Speaker 4: expenses than it is to grow revenues. Every business owner 529 00:31:57,760 --> 00:32:01,040 Speaker 4: will tell you that the fastest easiest thing you could 530 00:32:01,080 --> 00:32:06,120 Speaker 4: do is cut expenses. Growing revenues. That's hard, but you 531 00:32:06,120 --> 00:32:10,840 Speaker 4: could walk into any business, any business in America, and cut, 532 00:32:11,120 --> 00:32:14,160 Speaker 4: depending on the business, ten percent and not feel a difference, 533 00:32:14,600 --> 00:32:17,040 Speaker 4: and put ten percent to the bottom line. And more 534 00:32:17,080 --> 00:32:21,400 Speaker 4: businesses would would survive if they did make more cuts, 535 00:32:21,840 --> 00:32:28,040 Speaker 4: if they were more lean, if they judiciously guarded every penny. 536 00:32:29,120 --> 00:32:32,320 Speaker 4: So what is this is transition from advice for your 537 00:32:32,400 --> 00:32:35,000 Speaker 4: kids to advice to you. So let me just say 538 00:32:35,000 --> 00:32:39,120 Speaker 4: this with regard to advice to you, if your skill 539 00:32:39,240 --> 00:32:42,360 Speaker 4: is you're a nice person, and you're under the age 540 00:32:42,400 --> 00:32:47,240 Speaker 4: of fifty, I would learn some hard skills. I would 541 00:32:47,320 --> 00:32:54,080 Speaker 4: learn at least basic proficiency in computer programming, because one 542 00:32:54,120 --> 00:32:56,680 Speaker 4: way or another, that's going to be a great need. 543 00:33:00,040 --> 00:33:03,600 Speaker 4: And I would start, well, that's a bigger conversation for 544 00:33:03,600 --> 00:33:05,800 Speaker 4: another day. Let me talk about your kids. 545 00:33:06,520 --> 00:33:07,160 Speaker 2: This summer. 546 00:33:08,360 --> 00:33:10,200 Speaker 4: While your kids are doing what they always do, sitting 547 00:33:10,240 --> 00:33:12,320 Speaker 4: home playing video games, and you're at work, and you 548 00:33:12,360 --> 00:33:14,280 Speaker 4: haven't given thought to and you just call and make 549 00:33:14,280 --> 00:33:17,200 Speaker 4: sure they're not getting in trouble, they are missing out 550 00:33:17,280 --> 00:33:20,560 Speaker 4: on opportunities to meet people, to interact. I hate the 551 00:33:20,560 --> 00:33:23,520 Speaker 4: word network, but that's the word they are missing out. 552 00:33:24,360 --> 00:33:28,040 Speaker 4: Stick them at a company answering the phone, stick them 553 00:33:28,040 --> 00:33:31,320 Speaker 4: at a company hauling stuff. I worked one summer for 554 00:33:31,400 --> 00:33:36,640 Speaker 4: Homemade my No Time Homan. My buddy Craig McCay's dad. 555 00:33:37,080 --> 00:33:41,440 Speaker 4: He was a brick MASONY had a masonry company and 556 00:33:41,040 --> 00:33:44,320 Speaker 4: we hauled bricks and so at the end of every 557 00:33:44,360 --> 00:33:46,840 Speaker 4: day I was so exhausted but so proud he paid 558 00:33:46,840 --> 00:33:47,760 Speaker 4: me in cash every day. 559 00:33:48,480 --> 00:33:50,800 Speaker 2: It's a life experience. You know. 560 00:33:50,920 --> 00:33:53,840 Speaker 4: Somebody has a business, and don't get caught up in 561 00:33:53,880 --> 00:33:54,640 Speaker 4: whether a kid. 562 00:33:54,440 --> 00:33:55,440 Speaker 2: Makes money during the summer. 563 00:33:55,440 --> 00:33:57,280 Speaker 4: Nobody wants to pay your kid money because they're not 564 00:33:57,280 --> 00:33:58,840 Speaker 4: adding enough value to make it make sense. 565 00:33:58,880 --> 00:34:00,560 Speaker 2: That's a donation if they do that charity. 566 00:34:01,280 --> 00:34:04,880 Speaker 4: Don't let your kids sleep in, stick them in a 567 00:34:05,040 --> 00:34:07,520 Speaker 4: in a corporate environment, in a business environment to start 568 00:34:07,680 --> 00:34:09,560 Speaker 4: making friends.