1 00:00:22,760 --> 00:00:26,279 Speaker 1: The information provided by Financial Friday and Tony Kasai is 2 00:00:26,320 --> 00:00:29,520 Speaker 1: for general information entertainment purposes only and should not be 3 00:00:29,560 --> 00:00:33,360 Speaker 1: considered as professional financial advice. Consult with the professional before 4 00:00:33,400 --> 00:00:35,040 Speaker 1: making any financial decisions. 5 00:00:35,880 --> 00:00:38,320 Speaker 2: After twenty two years of being a Titan on Wall 6 00:00:38,360 --> 00:00:42,000 Speaker 2: Street and starting his own firm, Tony Kasai gets walking 7 00:00:42,080 --> 00:00:45,440 Speaker 2: away what he said, the ugly side cooking and on 8 00:00:45,560 --> 00:00:49,440 Speaker 2: the inside We'll interview insiders and other titans of all 9 00:00:49,479 --> 00:00:54,560 Speaker 2: types of industries, offering advice and sharing stories of adversity. 10 00:00:54,600 --> 00:00:57,240 Speaker 2: This is another episode of the Inside Show. 11 00:00:58,120 --> 00:01:01,040 Speaker 3: Welcome to Cannabis Talk one on ones Financial Fridays with 12 00:01:01,120 --> 00:01:04,479 Speaker 3: the Inside investor Tony ka we're the world's number one 13 00:01:04,520 --> 00:01:06,319 Speaker 3: source for everything cannabis. 14 00:01:06,560 --> 00:01:06,600 Speaker 1: No. 15 00:01:06,760 --> 00:01:08,200 Speaker 4: I don't know where you're at, what you're doing, or 16 00:01:08,200 --> 00:01:09,560 Speaker 4: what day that week it is for you, But over 17 00:01:09,560 --> 00:01:11,399 Speaker 4: here at the c T one on one Studios, it 18 00:01:11,480 --> 00:01:14,680 Speaker 4: is Financial Fridays, Ladies and gentlemen, I'm your host, Tony Casiana. 19 00:01:14,680 --> 00:01:16,360 Speaker 4: I'm here to get your mind right and your money 20 00:01:16,400 --> 00:01:18,800 Speaker 4: game tight. Feel free to leave me a financial question 21 00:01:18,840 --> 00:01:21,679 Speaker 4: anytime at one two hundred and twenty nineteen eighty. You 22 00:01:21,720 --> 00:01:24,480 Speaker 4: can also connect with you directly on Instagram at the 23 00:01:24,520 --> 00:01:27,120 Speaker 4: insider investors. Now once again, you all know that my 24 00:01:27,200 --> 00:01:29,080 Speaker 4: number one rule of money is that you can't be 25 00:01:29,200 --> 00:01:32,320 Speaker 4: healthy if you're not wealthy. Health is truly your health, 26 00:01:32,480 --> 00:01:33,960 Speaker 4: ladies and gentlemen. That's why I always like to talk 27 00:01:34,000 --> 00:01:36,480 Speaker 4: about my friend Matt Thomers. He is the doctor and 28 00:01:36,560 --> 00:01:38,480 Speaker 4: all the other doctors send their patients. 29 00:01:38,120 --> 00:01:39,440 Speaker 5: Too when they don't know what's wrong with them. 30 00:01:39,560 --> 00:01:42,119 Speaker 4: Now, Matt's did some amazing things, including the TED talk 31 00:01:42,440 --> 00:01:44,200 Speaker 4: that he just put out, and this TED talk is 32 00:01:44,240 --> 00:01:45,880 Speaker 4: being shadow banned. If you really want to get it 33 00:01:45,920 --> 00:01:48,360 Speaker 4: out there, I please share the story with everybody on 34 00:01:48,440 --> 00:01:49,120 Speaker 4: your socials. 35 00:01:49,760 --> 00:01:51,960 Speaker 5: Unfortunately, Big Pharma has. 36 00:01:51,760 --> 00:01:55,320 Speaker 4: Control of factically every platform and influence and they are 37 00:01:55,360 --> 00:01:56,360 Speaker 4: shadow banning it now. 38 00:01:56,560 --> 00:01:58,360 Speaker 5: The only thing he talks about on this TED talk 39 00:01:58,560 --> 00:02:01,080 Speaker 5: is the cure or a solution for. 40 00:02:01,080 --> 00:02:03,560 Speaker 4: The opioid at epidemic, and this is something that's near 41 00:02:03,600 --> 00:02:06,120 Speaker 4: and during to all of us. He's using medical grade cannabis. 42 00:02:06,120 --> 00:02:10,399 Speaker 4: He's using different ketamine treatments, alternative medicines to really help 43 00:02:10,440 --> 00:02:13,600 Speaker 4: with the opioid epidemic having tremendous results, and he talked 44 00:02:13,600 --> 00:02:15,360 Speaker 4: about that on the Dead Talk. You can look him 45 00:02:15,440 --> 00:02:18,160 Speaker 4: up at Charmers wellness dot Com. I call him direct 46 00:02:18,160 --> 00:02:21,639 Speaker 4: two one four four four five fifty three hundred. Now 47 00:02:21,639 --> 00:02:23,440 Speaker 4: he's also going to be in Las Vegas with us 48 00:02:23,600 --> 00:02:27,760 Speaker 4: for Mjbiscon as well. Now, speaking of Vegas, guys, my 49 00:02:27,880 --> 00:02:30,240 Speaker 4: voice was a little squeaky and a little bit slow 50 00:02:30,320 --> 00:02:32,520 Speaker 4: today because I just got back from F one weekend 51 00:02:32,520 --> 00:02:35,760 Speaker 4: in Las Vegas, and holy moly, man, this thing went 52 00:02:35,919 --> 00:02:38,880 Speaker 4: up and down, from roller coaster of events to the 53 00:02:38,919 --> 00:02:41,480 Speaker 4: timing of it, to a lot of negative publicity, and 54 00:02:41,560 --> 00:02:43,240 Speaker 4: at the end of it, in my opinion, they pulled 55 00:02:43,240 --> 00:02:47,200 Speaker 4: it off. But I learned six massive lessons from these 56 00:02:47,400 --> 00:02:49,520 Speaker 4: these guys spend when I was one hundred half a 57 00:02:49,560 --> 00:02:52,799 Speaker 4: billion dollars just resurfacing the track. I think overall their 58 00:02:52,840 --> 00:02:55,120 Speaker 4: investment into Las Vegas was over billion dollars. We'll talk 59 00:02:55,120 --> 00:02:57,200 Speaker 4: about that in a little bit, but I think by 60 00:02:57,240 --> 00:02:59,200 Speaker 4: going to this event, witnessing it all from A to Z, 61 00:02:59,360 --> 00:03:01,240 Speaker 4: I always look and try to look at lessons that 62 00:03:01,280 --> 00:03:03,480 Speaker 4: I can learn to bring back home and share with 63 00:03:03,520 --> 00:03:07,320 Speaker 4: you guys, and this one definitely came back with some nuggets. 64 00:03:07,320 --> 00:03:09,240 Speaker 4: I can't wait to give you guys the six tips. 65 00:03:09,240 --> 00:03:11,080 Speaker 4: But if you guys don't know what F one is, 66 00:03:11,160 --> 00:03:12,840 Speaker 4: or you're not even a race fan, let me just 67 00:03:12,919 --> 00:03:15,280 Speaker 4: kind of break down for you what happened at this event, 68 00:03:15,360 --> 00:03:18,160 Speaker 4: what the race was, and why it became such a 69 00:03:18,200 --> 00:03:20,799 Speaker 4: sensation that everybody was talking about it. And even if 70 00:03:20,800 --> 00:03:22,480 Speaker 4: you're not a race fan, I guarantee you this is 71 00:03:22,480 --> 00:03:22,800 Speaker 4: going to be. 72 00:03:22,800 --> 00:03:25,160 Speaker 5: A powerful episode for you, right. I was never a 73 00:03:25,240 --> 00:03:26,200 Speaker 5: race fan myself. 74 00:03:26,240 --> 00:03:28,000 Speaker 4: I just thought it was boring to watch cars go 75 00:03:28,040 --> 00:03:30,680 Speaker 4: in circles until I had the opportunity, gosh, about six 76 00:03:30,720 --> 00:03:34,320 Speaker 4: seven years ago, to sponsor an IndyCar with my former company, 77 00:03:34,360 --> 00:03:36,520 Speaker 4: Equity Advisors. So I got my name on the car, 78 00:03:36,520 --> 00:03:38,320 Speaker 4: I got to go out to Indy five hundred, and 79 00:03:38,440 --> 00:03:41,640 Speaker 4: at the time, the Indianapolis five hundred was the largest 80 00:03:41,760 --> 00:03:43,440 Speaker 4: sporting spectacle event. 81 00:03:43,200 --> 00:03:45,040 Speaker 5: In the world. Knowing it ever, you know, it's the 82 00:03:45,080 --> 00:03:46,080 Speaker 5: one thing that everybody knows. 83 00:03:46,120 --> 00:03:47,920 Speaker 4: I think there's like a quarter million people of that 84 00:03:48,240 --> 00:03:50,880 Speaker 4: stadium between the infield fits, and it's something that it's 85 00:03:50,880 --> 00:03:53,720 Speaker 4: been going on for decades. It's a tradition in Indianapolis. 86 00:03:53,880 --> 00:03:55,320 Speaker 4: So from that point on, I kind of got a 87 00:03:55,320 --> 00:03:57,360 Speaker 4: little bit more involved in racing. But I like the 88 00:03:57,440 --> 00:04:00,080 Speaker 4: kind of track racing, the street racing like you see 89 00:04:00,160 --> 00:04:02,840 Speaker 4: with F one in Monaco. Still for me, the NASCAR, 90 00:04:02,880 --> 00:04:05,120 Speaker 4: I haven't got caught up with that yet. But the 91 00:04:05,240 --> 00:04:07,640 Speaker 4: point is F one was something that kind of started 92 00:04:07,840 --> 00:04:10,080 Speaker 4: watching and over the years I became a fan. Obviously, 93 00:04:10,120 --> 00:04:13,160 Speaker 4: the Netflix show had made it explode. So about two 94 00:04:13,240 --> 00:04:15,400 Speaker 4: years ago or a year ago, they announced that they 95 00:04:15,400 --> 00:04:18,000 Speaker 4: were going to be in Vedas, and first of all, 96 00:04:18,000 --> 00:04:19,839 Speaker 4: nobody thought they could pull it off because the vision 97 00:04:19,960 --> 00:04:21,520 Speaker 4: was these cars are going to be going at over 98 00:04:21,560 --> 00:04:23,279 Speaker 4: two and miles an hour down the strip. They're going 99 00:04:23,320 --> 00:04:26,200 Speaker 4: to have to close the whole script down the logistics alone. 100 00:04:26,240 --> 00:04:28,719 Speaker 4: People from day one, you're gonna have naysayers, right, and 101 00:04:28,760 --> 00:04:31,760 Speaker 4: this is just little extra things that we already all know. Right, 102 00:04:31,800 --> 00:04:33,960 Speaker 4: anytime you want to do something big in next level, 103 00:04:34,120 --> 00:04:35,920 Speaker 4: the critics are going to be out, the eyeballs are 104 00:04:35,960 --> 00:04:37,640 Speaker 4: going to be out. So they already knew that they 105 00:04:37,640 --> 00:04:39,960 Speaker 4: were going to be people almost root for failure when 106 00:04:39,960 --> 00:04:43,679 Speaker 4: they see people doing powerful things, right, So these guys 107 00:04:43,680 --> 00:04:44,320 Speaker 4: planned it. 108 00:04:44,320 --> 00:04:46,720 Speaker 5: It was going to be this last weekend and they 109 00:04:46,720 --> 00:04:47,159 Speaker 5: came out. 110 00:04:47,360 --> 00:04:49,760 Speaker 4: I mean it became it almost became the fire Festival 111 00:04:49,920 --> 00:04:53,280 Speaker 4: of racing because the cheapest tickets at the time, I 112 00:04:53,320 --> 00:04:55,080 Speaker 4: believe were two thousand dollars. The ones we were buying 113 00:04:55,080 --> 00:04:57,240 Speaker 4: were like twenty four hundred with taxes and fees, and 114 00:04:57,279 --> 00:05:00,279 Speaker 4: that was just for your basic grand stand scene. Things 115 00:05:00,279 --> 00:05:02,240 Speaker 4: went all the way up to hundreds of thousands of dollars. 116 00:05:02,720 --> 00:05:06,359 Speaker 4: The moment it got announced Las Vegas. I remember, and 117 00:05:06,360 --> 00:05:08,159 Speaker 4: I've been going to the Cosmo for over a decade. 118 00:05:08,360 --> 00:05:10,400 Speaker 4: Anytime I want room, I make a call. Now I 119 00:05:10,440 --> 00:05:12,400 Speaker 4: knew F one was coming to Vegas before anybody in 120 00:05:12,480 --> 00:05:14,760 Speaker 4: Vegas did. So I go to my host and I say, hey, 121 00:05:14,760 --> 00:05:16,880 Speaker 4: I want to lock in my suite for that weekend, 122 00:05:16,920 --> 00:05:18,920 Speaker 4: and they locked it in sure enough. The race that 123 00:05:19,000 --> 00:05:20,800 Speaker 4: gets announced and they said, you know what, sorry, we 124 00:05:20,839 --> 00:05:23,919 Speaker 4: have canceler reservation because you're seeing room that's usually freeze. 125 00:05:23,920 --> 00:05:27,440 Speaker 4: Now one hundred thousand dollars per night. So the shit 126 00:05:27,520 --> 00:05:29,680 Speaker 4: show was already starting a year ago when I saw 127 00:05:29,680 --> 00:05:32,719 Speaker 4: these prices of these hotels were charging. MGM was charting 128 00:05:32,800 --> 00:05:36,039 Speaker 4: quarter million dollars packages for their nicer rooms with race tickets. 129 00:05:36,080 --> 00:05:38,120 Speaker 4: And these weren't like you know, the penthouse rooms. These 130 00:05:38,120 --> 00:05:40,919 Speaker 4: were just you know, your decent, nice suites. But again, 131 00:05:41,000 --> 00:05:43,000 Speaker 4: six figures for a weekend is a lot of money 132 00:05:43,040 --> 00:05:46,760 Speaker 4: for the average fan if you will, right, So, as 133 00:05:46,760 --> 00:05:48,920 Speaker 4: it got closer to the VET now Miami f one 134 00:05:49,040 --> 00:05:51,479 Speaker 4: sold that all the multiple f ones sold out all 135 00:05:51,520 --> 00:05:54,599 Speaker 4: across the globe. But this ended up being the most 136 00:05:54,600 --> 00:05:57,640 Speaker 4: expensive ticket that F one had ever offered any of 137 00:05:57,720 --> 00:06:00,200 Speaker 4: their at any of their venues. And it's a very 138 00:06:00,520 --> 00:06:04,359 Speaker 4: you know, the whole sport in Europe, it's it's very popular. 139 00:06:04,520 --> 00:06:07,160 Speaker 4: It's something that's higher, if not equivalent to the Super Bowl. 140 00:06:07,240 --> 00:06:08,760 Speaker 4: W's here in the States. It's kind of caught on 141 00:06:08,839 --> 00:06:11,920 Speaker 4: a little bit more recently. And obviously the Netflix shows 142 00:06:11,920 --> 00:06:13,960 Speaker 4: that they've had have had a tremendous amount to do 143 00:06:14,000 --> 00:06:16,040 Speaker 4: with it. But they went from but you used to 144 00:06:16,040 --> 00:06:18,120 Speaker 4: only have one race year out here, then they went 145 00:06:18,160 --> 00:06:20,400 Speaker 4: to two with Miami and Texas. And now this was 146 00:06:20,440 --> 00:06:21,720 Speaker 4: the third race that they were going to have in 147 00:06:21,720 --> 00:06:23,479 Speaker 4: the United States, the first time they've had three races 148 00:06:23,480 --> 00:06:26,960 Speaker 4: in the US. So with all with the logistics involved, 149 00:06:27,080 --> 00:06:29,640 Speaker 4: they got to Vegas, we're out there and the very 150 00:06:29,640 --> 00:06:32,160 Speaker 4: so there's going to be three nights. The cheapest night 151 00:06:32,200 --> 00:06:34,120 Speaker 4: that you could go to that buy a ticket was 152 00:06:34,160 --> 00:06:36,880 Speaker 4: one thousand dollars for a one day practice session. Now 153 00:06:36,920 --> 00:06:38,680 Speaker 4: this is about a ninety met session you get to 154 00:06:38,680 --> 00:06:40,919 Speaker 4: see the cars go down the track they're practicing, and 155 00:06:40,960 --> 00:06:43,360 Speaker 4: people will pay usually those ticket about one hundred dollars. 156 00:06:43,400 --> 00:06:45,360 Speaker 4: In any other place. Here there one thousand dollars or 157 00:06:45,360 --> 00:06:48,239 Speaker 4: ten x. Right now, most people bought three day pass 158 00:06:48,279 --> 00:06:50,240 Speaker 4: and those three day passes were going for about twenty 159 00:06:50,240 --> 00:06:53,719 Speaker 4: five hundred. So the people about the Thursday, there's people 160 00:06:53,760 --> 00:06:57,920 Speaker 4: that paid fifty thousand dollars for VIPs just for practice session, 161 00:06:57,960 --> 00:07:01,200 Speaker 4: et cetera. And they had spent again over half a billion, 162 00:07:01,200 --> 00:07:04,240 Speaker 4: that's five hundred million dollars to resurface the track of 163 00:07:04,279 --> 00:07:06,559 Speaker 4: the strip to make it race fertainly, because these cars, 164 00:07:06,560 --> 00:07:10,360 Speaker 4: I mean are massive machines, the downforce they're creating, and 165 00:07:10,760 --> 00:07:13,280 Speaker 4: just the safety issues that that these tracks have to 166 00:07:13,320 --> 00:07:17,040 Speaker 4: go through. F one is a massive regulatory body, if 167 00:07:17,040 --> 00:07:19,560 Speaker 4: you will, for their racing, and so they have engineers, 168 00:07:19,560 --> 00:07:22,720 Speaker 4: they have tracks, safety experts. There's nothing that they should 169 00:07:22,720 --> 00:07:25,600 Speaker 4: have done more so, sure enough, within ten minutes of 170 00:07:25,600 --> 00:07:28,760 Speaker 4: the first race on Thursday, the second car, the Ferrari 171 00:07:28,800 --> 00:07:32,360 Speaker 4: that goes out Carlo Sigins's car, the downforce sucks the 172 00:07:33,160 --> 00:07:37,160 Speaker 4: mantle cover off, tears up his engine, bows up, screws 173 00:07:37,240 --> 00:07:39,480 Speaker 4: up the aston Martin, I believe behind him, they called 174 00:07:39,520 --> 00:07:42,880 Speaker 4: they stop the race now because of logistics and because 175 00:07:43,080 --> 00:07:46,480 Speaker 4: they wanted to get traffic flowing reasonably. This race wasn't 176 00:07:46,520 --> 00:07:48,800 Speaker 4: supposed to start till ten PM. Now, this practice was 177 00:07:48,840 --> 00:07:52,120 Speaker 4: starting at midnight, right, so now it's one am. They 178 00:07:52,120 --> 00:07:54,440 Speaker 4: still haven't run it. All these people are getting drunk, drinking, 179 00:07:54,520 --> 00:07:57,760 Speaker 4: waiting for a practice session to start again. Long story longer, 180 00:07:57,760 --> 00:08:00,960 Speaker 4: at about four two am, three am in the morning, 181 00:08:01,000 --> 00:08:03,720 Speaker 4: somewhere around there, they announced that every fan has to leave. 182 00:08:03,760 --> 00:08:07,000 Speaker 4: Every fan that's paid thousands of dollars has to leave 183 00:08:07,040 --> 00:08:10,200 Speaker 4: the stands and go back to their rooms because now 184 00:08:10,200 --> 00:08:12,480 Speaker 4: there's a law that safety people can't work past a 185 00:08:12,480 --> 00:08:14,960 Speaker 4: certain amount of hours. The unions are involved in Vegas. 186 00:08:15,120 --> 00:08:17,800 Speaker 4: Long story short, They basically kind of like during COVID, 187 00:08:17,800 --> 00:08:19,880 Speaker 4: where no fans would watch a football game. They sent 188 00:08:19,960 --> 00:08:22,840 Speaker 4: everybody home pissed off, and now had to run the 189 00:08:22,880 --> 00:08:24,679 Speaker 4: practice session at like two or three of the morning. 190 00:08:24,960 --> 00:08:27,560 Speaker 4: Mind you, then qualifying is the next day, supposedly a 191 00:08:27,600 --> 00:08:29,640 Speaker 4: ten or twelve, so it's going to push everything else back. 192 00:08:29,680 --> 00:08:32,680 Speaker 4: So at this point you wake up on what was 193 00:08:32,679 --> 00:08:35,280 Speaker 4: that Friday or Saturday morning, the day before the main race, 194 00:08:35,679 --> 00:08:38,360 Speaker 4: and every news article is talking about how this is 195 00:08:38,400 --> 00:08:41,160 Speaker 4: going to be the biggest disaster. It's turning into the 196 00:08:41,160 --> 00:08:44,240 Speaker 4: fire Festival of racing. All my friends are texting me like, 197 00:08:44,280 --> 00:08:46,360 Speaker 4: oh my god, that suck. Are they canceling the whole 198 00:08:46,440 --> 00:08:49,400 Speaker 4: race because now there are safety issues. You got disgruntled 199 00:08:49,440 --> 00:08:54,320 Speaker 4: fans and they're just it was getting ugly right, so they're. 200 00:08:54,120 --> 00:08:55,839 Speaker 5: Not communicating well, etc. Etc. 201 00:08:56,200 --> 00:09:01,439 Speaker 4: Then Saturday, the actual qualifying happens off without Hitch. Now 202 00:09:01,440 --> 00:09:03,920 Speaker 4: there's been more hype in Vegas again, and then the 203 00:09:03,960 --> 00:09:05,840 Speaker 4: show happens and it ends up being one of the 204 00:09:05,840 --> 00:09:09,120 Speaker 4: best races Flix put on this year, and it just 205 00:09:09,200 --> 00:09:11,040 Speaker 4: you know, it was an awesome experience for a person. 206 00:09:11,240 --> 00:09:15,160 Speaker 4: So however, subsequent to that, now you know, now today 207 00:09:15,240 --> 00:09:18,400 Speaker 4: is you know, Wednesday that I'm back, and or Tuesday 208 00:09:19,120 --> 00:09:19,760 Speaker 4: you can tell them a. 209 00:09:19,720 --> 00:09:21,560 Speaker 5: Little bit of it. After that many days in Vegas, 210 00:09:21,840 --> 00:09:22,400 Speaker 5: but you. 211 00:09:22,400 --> 00:09:24,760 Speaker 4: Know a few days have gone by, started to digested 212 00:09:24,840 --> 00:09:26,640 Speaker 4: looking at all the news articles, and I'm picking up 213 00:09:26,640 --> 00:09:28,839 Speaker 4: on all the business lessons that we can take out 214 00:09:28,880 --> 00:09:31,079 Speaker 4: of this. So when we come back here on Financial Fridays, 215 00:09:31,120 --> 00:09:33,319 Speaker 4: when we go through the six things, my biggest takeaways 216 00:09:33,480 --> 00:09:35,920 Speaker 4: that I think you can implement in your business, in 217 00:09:36,000 --> 00:09:39,760 Speaker 4: your entrepreneurship and literally take money lessons out of this 218 00:09:39,960 --> 00:09:41,880 Speaker 4: mega event that went down in Vegas. 219 00:09:41,920 --> 00:09:43,720 Speaker 5: We'll see you right back here on Financial Friday. 220 00:09:43,760 --> 00:09:46,520 Speaker 3: We'll be right back with the Financial Friday five on 221 00:09:46,679 --> 00:09:50,160 Speaker 3: Cannabis Talk one on one's Financial Fridays with the Insider 222 00:09:50,240 --> 00:10:00,319 Speaker 3: Investor Tony K. Welcome back to Cannabi's Talk one on 223 00:10:00,400 --> 00:10:03,920 Speaker 3: one's Financial Fridays with the Insider Investor Tony K. 224 00:10:04,440 --> 00:10:08,600 Speaker 5: Hey, guys, now time open enrollment for healthcare. 225 00:10:08,840 --> 00:10:11,160 Speaker 4: Take advantage of this opportunity if you have health care, 226 00:10:11,280 --> 00:10:13,240 Speaker 4: or if you don't, or if you're a small business owner, 227 00:10:13,640 --> 00:10:16,400 Speaker 4: take a look at clearwaterhealth dot com. Guys, this is 228 00:10:16,440 --> 00:10:18,440 Speaker 4: an organization I'm proud to be a part of. They've 229 00:10:18,480 --> 00:10:20,679 Speaker 4: developed something special here for NAP's Top one O one. 230 00:10:20,920 --> 00:10:23,000 Speaker 4: We're offering it to our employees and it's something that's 231 00:10:23,080 --> 00:10:26,520 Speaker 4: very simple. If you have healthcare, or you need healthcare, 232 00:10:26,880 --> 00:10:28,679 Speaker 4: or your small business owner, give them a call. 233 00:10:28,760 --> 00:10:30,280 Speaker 5: Let them evaluate what you're doing. 234 00:10:30,800 --> 00:10:32,960 Speaker 4: They'll either tell you you're in good hands, they'll offer 235 00:10:32,960 --> 00:10:35,520 Speaker 4: you a better plan for a lower price, or they'll 236 00:10:35,520 --> 00:10:36,880 Speaker 4: tell you what you have is a good place and 237 00:10:36,920 --> 00:10:39,400 Speaker 4: you're in good hands, right, so take up you get them. 238 00:10:39,440 --> 00:10:42,439 Speaker 4: Clearwaterhealth dot Com can't go run and again open enrollment. 239 00:10:42,440 --> 00:10:45,000 Speaker 5: They will also be with us in Las Vegas for 240 00:10:45,200 --> 00:10:45,920 Speaker 5: mj Biscon. 241 00:10:47,200 --> 00:10:51,559 Speaker 4: Now back on Financial Fridays, talking about F one six 242 00:10:51,679 --> 00:10:53,960 Speaker 4: experiences of my takeaway from this weekend out there and 243 00:10:54,000 --> 00:10:57,360 Speaker 4: now again. For me, it was a massive success. I 244 00:10:57,400 --> 00:10:59,160 Speaker 4: love being out there, I love the vibe, I love 245 00:10:59,200 --> 00:11:02,280 Speaker 4: the energy. But the takeaways from this, I think, you know, 246 00:11:02,440 --> 00:11:04,199 Speaker 4: F one probably already knows this, but I think as 247 00:11:04,200 --> 00:11:06,560 Speaker 4: the average audience person sitting at home, if you have 248 00:11:06,600 --> 00:11:08,600 Speaker 4: a business, if you can kind of take some lessons 249 00:11:08,600 --> 00:11:11,280 Speaker 4: away from this, think about the lessons that F one 250 00:11:11,320 --> 00:11:13,440 Speaker 4: went through to cost them hundreds of millions of dollars 251 00:11:13,480 --> 00:11:16,040 Speaker 4: probably that you can get for free now by just 252 00:11:16,120 --> 00:11:18,559 Speaker 4: kind of listening to the end of anecdotes that I 253 00:11:18,559 --> 00:11:20,600 Speaker 4: think I took away from this. So first one and 254 00:11:21,000 --> 00:11:23,760 Speaker 4: the most important I think out of the six that 255 00:11:23,800 --> 00:11:25,959 Speaker 4: I'm passionate about that I try to instill here and 256 00:11:26,080 --> 00:11:28,720 Speaker 4: every business that I have is building culture. 257 00:11:28,920 --> 00:11:30,960 Speaker 5: Right, So when you look at it, F one is. 258 00:11:30,960 --> 00:11:35,520 Speaker 4: A mega global brand in the United States, it's relatively small, 259 00:11:36,160 --> 00:11:38,719 Speaker 4: you know, it's definitely smaller it's the smallest out of 260 00:11:38,760 --> 00:11:41,800 Speaker 4: all the sports, right, football, baseball, even hockey. And if 261 00:11:41,800 --> 00:11:43,680 Speaker 4: you look at the market that f one was trying 262 00:11:43,720 --> 00:11:47,079 Speaker 4: to penetrate Las Vegas, right, Las Vegas up until recently 263 00:11:47,120 --> 00:11:49,720 Speaker 4: didn't have any sports team. The Raiders come in, They've 264 00:11:49,760 --> 00:11:53,520 Speaker 4: dominated the NFL scene down here. Then obviously you got 265 00:11:53,520 --> 00:11:56,640 Speaker 4: the Golden Knights in hockey. They are just so entertaining 266 00:11:56,640 --> 00:11:58,680 Speaker 4: to watch as a venue and as an event, the 267 00:11:58,720 --> 00:12:01,720 Speaker 4: fans and just it's just such a powerful event every time. 268 00:12:02,040 --> 00:12:04,400 Speaker 4: I've never been a fan of hockey per se, but 269 00:12:04,520 --> 00:12:06,319 Speaker 4: going to that game, I became an instant fan of 270 00:12:06,360 --> 00:12:08,559 Speaker 4: the Knights and that environment and culture that they've built. 271 00:12:08,679 --> 00:12:10,840 Speaker 4: And now they're talking about bringing an NBA team, Shacks 272 00:12:10,880 --> 00:12:13,920 Speaker 4: talking about that, and then we're also talking about baseball 273 00:12:13,960 --> 00:12:16,760 Speaker 4: coming in there, so you know you have the fans there, right, 274 00:12:16,800 --> 00:12:19,520 Speaker 4: so everyone comes in. They drop almost a billion dollars. 275 00:12:19,559 --> 00:12:23,160 Speaker 4: They built a permanent headquarters that became Padda Club. The 276 00:12:23,160 --> 00:12:24,960 Speaker 4: paddock is where the garages are, and you see the 277 00:12:24,960 --> 00:12:27,079 Speaker 4: cars pull in for their pit stop, and then the 278 00:12:27,160 --> 00:12:29,120 Speaker 4: racetrack and I looked like an upside down pig where 279 00:12:29,120 --> 00:12:30,920 Speaker 4: it came down through the strip came down by our 280 00:12:31,000 --> 00:12:32,959 Speaker 4: rooms over at the Cosmo and. 281 00:12:32,920 --> 00:12:34,080 Speaker 5: Then went back up this strip. 282 00:12:34,160 --> 00:12:36,760 Speaker 4: So you know, they dropped over billion dollars and they've 283 00:12:36,800 --> 00:12:39,120 Speaker 4: made pretty much a three year guarantee but a ten 284 00:12:39,200 --> 00:12:41,079 Speaker 4: year handshake deal that they're going to be in Vegas. 285 00:12:41,240 --> 00:12:42,920 Speaker 5: They built the permanent headquarters there. 286 00:12:42,960 --> 00:12:45,360 Speaker 4: They're going to throw other events that I have a suspicion, 287 00:12:45,720 --> 00:12:47,920 Speaker 4: but you know, they have this event. But where I 288 00:12:47,960 --> 00:12:50,000 Speaker 4: think they failed on is they didn't tap into the 289 00:12:50,160 --> 00:12:53,400 Speaker 4: local audience. They didn't tap into the local culture. The 290 00:12:53,480 --> 00:12:56,400 Speaker 4: workers there, the employees, they're the family, They're the people 291 00:12:56,480 --> 00:12:57,120 Speaker 4: that make this. 292 00:12:57,120 --> 00:12:59,760 Speaker 5: Massive c run. That's what the Golden Knights did. 293 00:12:59,760 --> 00:13:02,160 Speaker 4: If you if you go to Golden's Knight's game and 294 00:13:02,280 --> 00:13:04,520 Speaker 4: you look around, you're always going to have your celebrities 295 00:13:04,520 --> 00:13:07,360 Speaker 4: in your ballers, in their merrisuites. But more if I've 296 00:13:07,360 --> 00:13:10,600 Speaker 4: read some crazy statistic that the majority of their season 297 00:13:10,640 --> 00:13:13,040 Speaker 4: holders they are actually mom and pop family owners, you know, 298 00:13:13,120 --> 00:13:15,520 Speaker 4: locals that are buying into the culture that the Knight's 299 00:13:15,559 --> 00:13:17,839 Speaker 4: built and they're building a legacy. They know that that 300 00:13:18,440 --> 00:13:20,360 Speaker 4: team is going to be there most likely forever, and 301 00:13:20,480 --> 00:13:23,160 Speaker 4: Vegas is rewarding them, and they are rewarding Vegas back. 302 00:13:23,600 --> 00:13:25,560 Speaker 4: F one didn't do that when they came to Vegas, 303 00:13:25,720 --> 00:13:29,240 Speaker 4: and Vegas immediately hotel workers were spending three hours longer 304 00:13:29,280 --> 00:13:29,920 Speaker 4: to get to work. 305 00:13:30,160 --> 00:13:31,520 Speaker 5: Nobody was getting paid extra. 306 00:13:31,600 --> 00:13:33,480 Speaker 4: They didn't really give away that many tickets as far 307 00:13:33,520 --> 00:13:35,920 Speaker 4: as I know, to the locals, to the charities. So 308 00:13:36,040 --> 00:13:38,760 Speaker 4: there's so much culture building that they could have done 309 00:13:38,920 --> 00:13:41,520 Speaker 4: that they didn't do. That led to the massive amount 310 00:13:41,559 --> 00:13:44,320 Speaker 4: of negative publicity. The moment the tiniest thing went wrong, 311 00:13:44,520 --> 00:13:47,200 Speaker 4: everybody was ready to pounce on that instead of supporting 312 00:13:47,280 --> 00:13:49,200 Speaker 4: them and kind of giving them a pass since it 313 00:13:49,280 --> 00:13:52,080 Speaker 4: is a massive logistical event to pull off. Right now, 314 00:13:52,120 --> 00:13:53,960 Speaker 4: when you look around our studios and if you guys 315 00:13:53,960 --> 00:13:56,280 Speaker 4: are watching this on YouTube, you know the cannabis talk 316 00:13:56,320 --> 00:13:59,080 Speaker 4: one on one here at iHeartMedia has a massive studio 317 00:13:59,360 --> 00:14:02,040 Speaker 4: and even now more recently we're expanding with the M 318 00:14:02,080 --> 00:14:05,439 Speaker 4: two brand Master Mentors, Live the Education the next run 319 00:14:05,520 --> 00:14:07,600 Speaker 4: of videos. And reason we're in the studio right now 320 00:14:07,679 --> 00:14:09,920 Speaker 4: is we've packed up the whole studio. We've gone to 321 00:14:09,960 --> 00:14:12,079 Speaker 4: Vegas for mg Biscon, which we're going to be at 322 00:14:12,080 --> 00:14:15,040 Speaker 4: this coming week. And the point of the story, man, 323 00:14:15,120 --> 00:14:17,720 Speaker 4: is that when you look at the culture we're building here. 324 00:14:18,000 --> 00:14:20,160 Speaker 4: I'm trying to install all these little lessons that I 325 00:14:20,160 --> 00:14:21,600 Speaker 4: got from F one because we now. 326 00:14:21,600 --> 00:14:22,920 Speaker 5: Got to do community outreage. 327 00:14:22,960 --> 00:14:25,080 Speaker 4: We got to reach out to our interns, their family, 328 00:14:25,320 --> 00:14:28,520 Speaker 4: have little events here for charitable events, and really constantly 329 00:14:28,520 --> 00:14:30,080 Speaker 4: give back to the community, because at the end of 330 00:14:30,120 --> 00:14:32,200 Speaker 4: the day, it's going to be the community. 331 00:14:31,720 --> 00:14:32,440 Speaker 5: That supports you. 332 00:14:32,680 --> 00:14:35,560 Speaker 4: And if you don't build a raving fan culture and 333 00:14:35,600 --> 00:14:38,600 Speaker 4: I got that from Tony Dobbins, but building a raving 334 00:14:38,640 --> 00:14:41,720 Speaker 4: fan culture of people that want to support you and 335 00:14:41,720 --> 00:14:44,040 Speaker 4: be there for you. That way, when you do slip, 336 00:14:44,160 --> 00:14:46,080 Speaker 4: you don't fall and somebody's there to hold you up. 337 00:14:46,200 --> 00:14:47,840 Speaker 5: Now, the second one I want to. 338 00:14:47,760 --> 00:14:51,880 Speaker 4: Talk about, don't gouge your customer. Right when you look 339 00:14:51,920 --> 00:14:53,720 Speaker 4: at what these guys did. It was their very first 340 00:14:53,760 --> 00:14:56,640 Speaker 4: event in Vegas. They have no fan culture there. They're 341 00:14:56,680 --> 00:14:59,760 Speaker 4: really just banking on the sex appeal, the hype, I mean, 342 00:15:00,120 --> 00:15:03,120 Speaker 4: looked awesome with these cars racing down in the neon lights. 343 00:15:03,240 --> 00:15:05,560 Speaker 4: And it was the only night race you know the 344 00:15:05,720 --> 00:15:08,160 Speaker 4: United States has had. They do that in Singapore and 345 00:15:08,160 --> 00:15:11,400 Speaker 4: a couple of other runs. But again it's a global race. 346 00:15:11,440 --> 00:15:13,520 Speaker 4: These guys travel every two weeks all over the globe, 347 00:15:13,920 --> 00:15:16,000 Speaker 4: like right now they're off to Abu Dhabi from Vegas. 348 00:15:16,360 --> 00:15:20,720 Speaker 5: But but yeah, I mean, we look at the logistics involved. 349 00:15:20,920 --> 00:15:24,320 Speaker 4: If you constantly look at your price point and you 350 00:15:24,400 --> 00:15:26,400 Speaker 4: haven't built your culture yet, you're going to come out 351 00:15:26,400 --> 00:15:29,800 Speaker 4: and just bank on the celebrity. The cheapest tickets they 352 00:15:29,800 --> 00:15:32,640 Speaker 4: came out was started at two thousand dollars, initially went 353 00:15:32,640 --> 00:15:35,040 Speaker 4: all the way up to one hundreds of thousands, and 354 00:15:35,120 --> 00:15:37,640 Speaker 4: this just included grandstand seats. These weren't like, you know, 355 00:15:37,720 --> 00:15:40,800 Speaker 4: luxury boxes. The luxury boxes started at five to seven 356 00:15:40,840 --> 00:15:44,200 Speaker 4: thousand dollars apiece. So instantly they went in for a 357 00:15:44,240 --> 00:15:46,520 Speaker 4: cash grab, and right off the bat, I was like, man, 358 00:15:46,560 --> 00:15:48,120 Speaker 4: that's a mistake. Because I knew it was going to 359 00:15:48,160 --> 00:15:51,400 Speaker 4: be over the top event. I knew that it was 360 00:15:51,440 --> 00:15:53,640 Speaker 4: going to be probably the biggest sporting event the United 361 00:15:53,640 --> 00:15:55,680 Speaker 4: States had ever seen. I would tell everybody that a 362 00:15:55,720 --> 00:15:58,280 Speaker 4: year ago. But as soon as I saw those price points, 363 00:15:58,520 --> 00:16:01,600 Speaker 4: immediately they just freaking X stop ninety percent of the 364 00:16:01,600 --> 00:16:04,400 Speaker 4: potential market because most people cannot afford that for a 365 00:16:04,480 --> 00:16:06,800 Speaker 4: single ticket, Plus the costs are now going to these 366 00:16:06,800 --> 00:16:09,800 Speaker 4: expensive hotel rooms, getting a flight out there, sting eating 367 00:16:09,800 --> 00:16:12,280 Speaker 4: and drinking. It was just going to be a mess. 368 00:16:12,320 --> 00:16:15,280 Speaker 4: So not gouging the consumer I think is a it's 369 00:16:15,360 --> 00:16:18,320 Speaker 4: easier said than done, but doing test price points. You 370 00:16:18,320 --> 00:16:21,200 Speaker 4: can always increase, but it's a bad look when you decrease. 371 00:16:21,320 --> 00:16:23,280 Speaker 4: Let me tell you why what happened this year? Finally 372 00:16:23,320 --> 00:16:26,880 Speaker 4: they got so desperate, especially like the rooftop parties, like 373 00:16:27,000 --> 00:16:29,840 Speaker 4: McLaren was doing a joint event with Dre's at the 374 00:16:29,960 --> 00:16:33,360 Speaker 4: rooftop with Mark Wahlberg, and the cheapest tickets there I 375 00:16:33,360 --> 00:16:35,400 Speaker 4: think were a couple thousand dollars, but there you know, 376 00:16:35,400 --> 00:16:37,040 Speaker 4: it's a freaking roof of the hotel, so you're not 377 00:16:37,040 --> 00:16:39,880 Speaker 4: getting the best view, you don't have designated seating. But 378 00:16:40,120 --> 00:16:42,040 Speaker 4: as an approach race state they were offering those are 379 00:16:42,080 --> 00:16:44,840 Speaker 4: a thirty forty percent discount. So anybody that watched the 380 00:16:44,920 --> 00:16:47,200 Speaker 4: race this year now or experienced it, or spend all 381 00:16:47,240 --> 00:16:49,160 Speaker 4: that money to go out there now next year, do 382 00:16:49,160 --> 00:16:50,400 Speaker 4: you think they're going to buy as soon as the 383 00:16:50,400 --> 00:16:52,960 Speaker 4: ticket's gone sale. No, they're going to wait until the 384 00:16:53,000 --> 00:16:55,600 Speaker 4: discounts start offering. So literally you're hurting yourself if you 385 00:16:55,600 --> 00:16:58,440 Speaker 4: have to go backwards. You could always increase your prices, 386 00:16:58,600 --> 00:17:00,960 Speaker 4: but it's a bad look when you have the discount, right, 387 00:17:01,240 --> 00:17:04,600 Speaker 4: So not gouging the consumer is definitely something that I 388 00:17:04,600 --> 00:17:06,480 Speaker 4: want you to think about when you have a business, 389 00:17:06,520 --> 00:17:08,440 Speaker 4: or when you're in sales, or you have to offer 390 00:17:08,480 --> 00:17:10,720 Speaker 4: a product, It's better to start lower, make a little 391 00:17:10,720 --> 00:17:11,320 Speaker 4: bit less money. 392 00:17:11,320 --> 00:17:13,960 Speaker 5: When the demand is there, then limit this supply by 393 00:17:13,960 --> 00:17:14,920 Speaker 5: increasing our price. 394 00:17:15,040 --> 00:17:17,880 Speaker 4: Right now, fine, the third one for the segment before 395 00:17:17,880 --> 00:17:21,359 Speaker 4: we take a break, guys, communication, So what happened on 396 00:17:21,359 --> 00:17:25,439 Speaker 4: the first night? You got thousands of fans, It's relatively cold, 397 00:17:25,600 --> 00:17:28,040 Speaker 4: they're eating and drink and waiting for this race to start. 398 00:17:28,200 --> 00:17:30,119 Speaker 4: First they told everybody was going to start back up 399 00:17:30,119 --> 00:17:32,840 Speaker 4: at one, then one thirty, then two, then two thirty, 400 00:17:32,960 --> 00:17:35,280 Speaker 4: and finally at three. Nobody really had an explanation why 401 00:17:35,320 --> 00:17:37,639 Speaker 4: everybody had to leave. You know, they could have solved 402 00:17:37,640 --> 00:17:40,480 Speaker 4: this very easily. They could have had better SMS, text communication. 403 00:17:40,800 --> 00:17:43,280 Speaker 4: They could have had a walkie talkie service. They could 404 00:17:43,320 --> 00:17:45,480 Speaker 4: have planned for what ifs. You know, every time I 405 00:17:45,600 --> 00:17:48,040 Speaker 4: throw a mastermind or a major event where I'm going 406 00:17:48,080 --> 00:17:51,160 Speaker 4: to have thousands of people there, I have multiple contingencicy 407 00:17:51,240 --> 00:17:53,320 Speaker 4: things in plants. You know, if the camera's not working, 408 00:17:53,359 --> 00:17:55,840 Speaker 4: we'll have a camera back up. We'll have eight extra batteries. 409 00:17:55,960 --> 00:17:58,080 Speaker 4: I'll have four extra mics. I'll have it if I 410 00:17:58,119 --> 00:18:00,640 Speaker 4: have to take a party bus of people somewhere, I'll 411 00:18:00,640 --> 00:18:04,040 Speaker 4: have four SUVs on my uber on hold in case 412 00:18:04,080 --> 00:18:06,240 Speaker 4: the bus breaks down. You always want to plan for 413 00:18:06,320 --> 00:18:07,320 Speaker 4: what if as much as you can. 414 00:18:07,359 --> 00:18:08,720 Speaker 5: Now. Some thing's just going to happen. 415 00:18:08,960 --> 00:18:11,119 Speaker 4: Now, in this case, they never planned on how to 416 00:18:11,160 --> 00:18:14,920 Speaker 4: communicate with the entire fan base right if something happens. 417 00:18:15,080 --> 00:18:17,520 Speaker 4: It's a little shocking to me that that happened in Vegas, 418 00:18:17,520 --> 00:18:20,680 Speaker 4: considering what happened to that unfortunate music festival years ago 419 00:18:20,720 --> 00:18:22,840 Speaker 4: where the guy goes, you know, just start shooting from 420 00:18:22,880 --> 00:18:25,840 Speaker 4: the hotel room. This was a massive event, had massive 421 00:18:25,880 --> 00:18:28,760 Speaker 4: international exposure. If there had been some kind of a 422 00:18:28,760 --> 00:18:31,960 Speaker 4: criminal element or a terrorist attack, I'm surprised they didn't 423 00:18:31,960 --> 00:18:35,240 Speaker 4: have more systems in place to communicate to the mass audience, 424 00:18:35,440 --> 00:18:37,520 Speaker 4: And in this case, I think it would have when 425 00:18:37,520 --> 00:18:39,560 Speaker 4: you tell people what's going on ahead of time, or 426 00:18:39,560 --> 00:18:41,560 Speaker 4: can communicate it instead of you hearing it from some 427 00:18:41,880 --> 00:18:43,840 Speaker 4: you know, a musclehead bouncer that's just trying to be 428 00:18:43,880 --> 00:18:45,960 Speaker 4: aggressive and causing a scene. There was a lot of 429 00:18:46,000 --> 00:18:49,000 Speaker 4: negative vibes that happened that first night. It just a 430 00:18:49,000 --> 00:18:51,680 Speaker 4: little bit of communication would help, and you'd be amazed. 431 00:18:51,720 --> 00:18:53,959 Speaker 4: People can handle bad news if you just tell them 432 00:18:54,000 --> 00:18:56,280 Speaker 4: straight up up front. But when it drags and the 433 00:18:56,359 --> 00:19:00,040 Speaker 4: narrative changes and their expectations are changing, that's where and 434 00:19:00,119 --> 00:19:02,439 Speaker 4: really you start losing. You're starting to get the negative 435 00:19:02,480 --> 00:19:04,760 Speaker 4: publicity now all of a sudden that everybody that was 436 00:19:04,800 --> 00:19:06,639 Speaker 4: waiting for you to fail is going to jump on that. 437 00:19:07,080 --> 00:19:10,160 Speaker 5: The irony of this whole pothole. 438 00:19:09,280 --> 00:19:13,200 Speaker 4: Incident is that it had happened before. It happened in Monaco, 439 00:19:13,200 --> 00:19:15,840 Speaker 4: It had happened about who. It just occasionally happens where 440 00:19:15,840 --> 00:19:18,040 Speaker 4: the downforce of these cars are going so fast are 441 00:19:18,080 --> 00:19:20,520 Speaker 4: so low to the ground that it does suction, just 442 00:19:20,600 --> 00:19:24,520 Speaker 4: create these forces, if you will, g forces that sucked 443 00:19:24,600 --> 00:19:25,640 Speaker 4: these metal objects out. 444 00:19:25,800 --> 00:19:26,840 Speaker 5: So it happened before. 445 00:19:27,000 --> 00:19:28,480 Speaker 4: It was a fix that they needed the for a 446 00:19:28,520 --> 00:19:31,240 Speaker 4: safety issue, But again everybody dumped on it at Oh, 447 00:19:31,280 --> 00:19:33,400 Speaker 4: look what happened in Vegas. There were so higher focused 448 00:19:33,400 --> 00:19:35,600 Speaker 4: on the show because the show they put on, the 449 00:19:35,640 --> 00:19:37,800 Speaker 4: pre show and it was almost like a concert that 450 00:19:38,000 --> 00:19:41,520 Speaker 4: was pretty epic. So communication would have saved them so 451 00:19:41,640 --> 00:19:42,560 Speaker 4: much headache. 452 00:19:42,240 --> 00:19:44,639 Speaker 5: So much bad publicity. Now we're going to take a break. 453 00:19:44,680 --> 00:19:46,399 Speaker 4: When we come back, I'm going to cover the final 454 00:19:46,440 --> 00:19:50,360 Speaker 4: three ideas fixes advice that I can give you from. 455 00:19:50,320 --> 00:19:52,360 Speaker 5: F one to and sell any business for as an entrepreneur. 456 00:19:52,440 --> 00:19:53,720 Speaker 5: We'll be right back on financial VIDs. 457 00:19:53,760 --> 00:19:56,119 Speaker 3: We'll be right back with more Financial Fridays with the 458 00:19:56,160 --> 00:19:59,879 Speaker 3: Inside Investor Tony k. Make sure you follow Tony at 459 00:20:00,040 --> 00:20:11,359 Speaker 3: the Insider Investor. Welcome back to Cannabis Talk, one on 460 00:20:11,440 --> 00:20:15,720 Speaker 3: one's Financial Fridays with the Inside Investor Tony Ka. Make 461 00:20:15,760 --> 00:20:18,040 Speaker 3: sure you like, follow and subscribe to the show. 462 00:20:18,080 --> 00:20:18,280 Speaker 5: Now. 463 00:20:18,520 --> 00:20:23,359 Speaker 4: Attention cannabis entrepreneurs, listen up. Mastermenttorslive dot Com is coming 464 00:20:23,359 --> 00:20:26,720 Speaker 4: to city near you. This is an amazing organization I'm 465 00:20:26,720 --> 00:20:28,840 Speaker 4: proud to be a part of. We are doing this 466 00:20:28,920 --> 00:20:33,119 Speaker 4: to basically educate you if you are a cannabis entrepreneur, entrepreneur, 467 00:20:33,280 --> 00:20:34,000 Speaker 4: or want to get. 468 00:20:33,880 --> 00:20:35,480 Speaker 5: It into the game. We're going to come to city 469 00:20:35,480 --> 00:20:35,880 Speaker 5: New Year. 470 00:20:35,920 --> 00:20:39,240 Speaker 4: It's absolutely free, come out, check out the website. We 471 00:20:39,320 --> 00:20:43,040 Speaker 4: got events in Newark, Florida, Texas, Atlanta just to name 472 00:20:43,080 --> 00:20:44,440 Speaker 4: a few, and we're going to be doing this all 473 00:20:44,520 --> 00:20:47,080 Speaker 4: year long. This is something we've started several years ago 474 00:20:47,160 --> 00:20:49,200 Speaker 4: through COVID, we kind of slowed it down, but we're 475 00:20:49,240 --> 00:20:52,720 Speaker 4: going full full force now Mastermantors live dot com. Come 476 00:20:52,800 --> 00:20:55,719 Speaker 4: check it out now we're back here on Financial Fridays, 477 00:20:55,760 --> 00:20:57,439 Speaker 4: Ladies and gentlemen. I am talking to you about my 478 00:20:57,480 --> 00:21:00,560 Speaker 4: experiences at at one in Las Vegas. My voice is 479 00:21:00,560 --> 00:21:02,440 Speaker 4: a little bit worse, but I wanted to get this out. 480 00:21:02,480 --> 00:21:04,040 Speaker 4: I wanted to get it recorded while I was fresh 481 00:21:04,160 --> 00:21:06,080 Speaker 4: because there's a live negative news about it. 482 00:21:06,160 --> 00:21:08,080 Speaker 5: But I think you can take advantage of the lessons 483 00:21:08,200 --> 00:21:09,040 Speaker 5: that they went through. 484 00:21:09,040 --> 00:21:10,960 Speaker 4: The cost them hundreds and millions of dollars, and I 485 00:21:10,960 --> 00:21:12,560 Speaker 4: think you could instill it in your business. 486 00:21:12,640 --> 00:21:13,719 Speaker 5: Right. So, guys. 487 00:21:14,000 --> 00:21:17,080 Speaker 4: Number four of the list, we've covered building culture, we've 488 00:21:17,119 --> 00:21:21,679 Speaker 4: covered don't gouging the consumer. We've covered communication. Number four 489 00:21:21,800 --> 00:21:24,280 Speaker 4: is customer service. You've got to have better customer service. 490 00:21:24,400 --> 00:21:27,159 Speaker 4: F One, you know when you're a multi billion dollar organization. 491 00:21:27,359 --> 00:21:30,520 Speaker 4: There were so many issues with ticket transfers. Before you know, 492 00:21:30,560 --> 00:21:33,480 Speaker 4: I got a few tickets for some friends on multiple platforms. 493 00:21:33,680 --> 00:21:35,679 Speaker 4: Sometimes you have to wait till race day to receive 494 00:21:35,720 --> 00:21:39,600 Speaker 4: the tickets. Even some of their communications pre race with 495 00:21:39,640 --> 00:21:42,400 Speaker 4: their apps weren't weren't logging in people couldn't load their 496 00:21:42,760 --> 00:21:44,960 Speaker 4: ten thousand dollars tickets in an app. There's really no 497 00:21:45,000 --> 00:21:46,840 Speaker 4: excuse for that. You know, when you have that much money, 498 00:21:46,840 --> 00:21:48,680 Speaker 4: when you have that much at sake, it's the little 499 00:21:48,680 --> 00:21:51,239 Speaker 4: things that count. And then obviously, when you have a 500 00:21:51,280 --> 00:21:54,040 Speaker 4: pr disaster like you did on Thursday night, you still 501 00:21:54,080 --> 00:21:56,560 Speaker 4: have Friday night, you still have Saturday night, and the 502 00:21:56,640 --> 00:21:59,159 Speaker 4: first night, within ten minutes of the race, you have 503 00:21:59,200 --> 00:22:01,680 Speaker 4: to cancel the race entire night to your fans. Not 504 00:22:01,720 --> 00:22:04,200 Speaker 4: only did they not refund money, not only did they 505 00:22:04,240 --> 00:22:07,400 Speaker 4: not get ahead of their narrative with communication, but then 506 00:22:07,440 --> 00:22:10,040 Speaker 4: they added insult to injury. These people had paid I 507 00:22:10,040 --> 00:22:12,440 Speaker 4: don't think anybody paid less than five thousand dollars solo 508 00:22:12,480 --> 00:22:14,400 Speaker 4: would be there between all the costs of being there, 509 00:22:14,520 --> 00:22:17,080 Speaker 4: the cheapest ticket being over two thousand dollars. What did 510 00:22:17,119 --> 00:22:19,119 Speaker 4: they do in their infinite wisdom, they came out and 511 00:22:19,160 --> 00:22:22,720 Speaker 4: offered two hundred dollars of credit at their merchandise store. 512 00:22:22,840 --> 00:22:26,080 Speaker 4: Now that you know, as one of the as one 513 00:22:26,119 --> 00:22:28,040 Speaker 4: of the drivers, I think one of the principal said, 514 00:22:28,119 --> 00:22:29,639 Speaker 4: I would just rip that up. I mean, it's just 515 00:22:29,720 --> 00:22:31,760 Speaker 4: such an insult. And again it's not even two hundred bus. 516 00:22:31,760 --> 00:22:33,479 Speaker 4: It's two hundred bus of probably a half that they 517 00:22:33,480 --> 00:22:35,520 Speaker 4: were charging. There was a little sweater that said F one. 518 00:22:35,560 --> 00:22:37,120 Speaker 4: It was a baby size. It was like one hundred 519 00:22:37,119 --> 00:22:38,840 Speaker 4: and forty dollars at the gift shop at Cosmo. So 520 00:22:39,119 --> 00:22:40,960 Speaker 4: the F one store given a two hundred OAR gifts 521 00:22:40,960 --> 00:22:42,640 Speaker 4: forget and that was only for people that had single 522 00:22:42,680 --> 00:22:44,720 Speaker 4: day tickets on Thursday. If you had bought the three 523 00:22:44,800 --> 00:22:47,119 Speaker 4: day ticket, which most people did that didn't even have 524 00:22:47,160 --> 00:22:50,400 Speaker 4: that credit. So having customer service like that and then 525 00:22:50,760 --> 00:22:52,520 Speaker 4: not having it before the race, and then you have 526 00:22:52,560 --> 00:22:54,520 Speaker 4: a pr disaster, and now you come out with these 527 00:22:54,720 --> 00:22:56,760 Speaker 4: half ass you know, middle of the night ideas that 528 00:22:56,800 --> 00:22:58,960 Speaker 4: somebody came up with, passify the pissed off people. 529 00:22:59,119 --> 00:23:00,240 Speaker 5: It just pissed off people. 530 00:23:00,160 --> 00:23:02,960 Speaker 4: Even more and give the journalists and the other people 531 00:23:03,000 --> 00:23:06,280 Speaker 4: more negative things to talk about. So absolutely solved nothing. 532 00:23:06,320 --> 00:23:08,520 Speaker 4: Not one person could say that that was satisfied. So 533 00:23:08,560 --> 00:23:10,640 Speaker 4: you're almost better off not giving shit back if you're 534 00:23:10,640 --> 00:23:14,000 Speaker 4: just going to offer crubs. Right, So, customer service, having 535 00:23:14,240 --> 00:23:16,320 Speaker 4: content and if you notice there's a theme I'm going 536 00:23:16,359 --> 00:23:18,640 Speaker 4: through here, right, a lot of these tying together. If 537 00:23:18,640 --> 00:23:20,639 Speaker 4: you had nott gowaged the consumer if you already had 538 00:23:20,680 --> 00:23:23,520 Speaker 4: better communication, you wouldn't have such a customer service issue. 539 00:23:23,520 --> 00:23:25,480 Speaker 4: But now that you have a customer service issue, you're 540 00:23:25,520 --> 00:23:27,320 Speaker 4: not even planning out contingencies. 541 00:23:27,440 --> 00:23:28,840 Speaker 5: Say, hey, what if we have to give refunds for 542 00:23:28,880 --> 00:23:29,360 Speaker 5: the first night? 543 00:23:29,400 --> 00:23:31,840 Speaker 4: What if I don't know? It just started pouring rain, 544 00:23:31,880 --> 00:23:34,160 Speaker 4: and that the race had to be called. Like, they 545 00:23:34,200 --> 00:23:35,840 Speaker 4: never came up with ideas of what they would do 546 00:23:36,040 --> 00:23:39,120 Speaker 4: to give back to these customers that could. They need 547 00:23:39,119 --> 00:23:41,440 Speaker 4: to create lifelong customers. If they're going to best a 548 00:23:41,440 --> 00:23:43,160 Speaker 4: billion dollars in veggas and they want to come back 549 00:23:43,240 --> 00:23:45,680 Speaker 4: and they want the town and the fans to support them, 550 00:23:45,800 --> 00:23:48,160 Speaker 4: you've got to have better customer service in place. F one, 551 00:23:48,280 --> 00:23:50,520 Speaker 4: and he definitely have that one up right now. 552 00:23:50,800 --> 00:23:51,520 Speaker 5: Number five. 553 00:23:52,800 --> 00:23:56,200 Speaker 4: Having better price points. Guys, A, there's a buyer at 554 00:23:56,240 --> 00:23:59,160 Speaker 4: every price point. And I don't care if you're selling diamonds. 555 00:23:59,240 --> 00:24:01,200 Speaker 4: I don't care if you're self houses, I don't care 556 00:24:01,200 --> 00:24:05,399 Speaker 4: if you sell timeshare, if you're selling dentistry. Right, you 557 00:24:05,440 --> 00:24:08,240 Speaker 4: can get any package. The more press points you create, 558 00:24:08,400 --> 00:24:10,800 Speaker 4: the more buyers you're going to have. Now, these guys 559 00:24:10,880 --> 00:24:12,800 Speaker 4: just swung for the fences, right. They came in at 560 00:24:13,000 --> 00:24:15,680 Speaker 4: two thousand dollars. I think standing room only, which means 561 00:24:15,680 --> 00:24:18,760 Speaker 4: you can just walk around. This three mile track was 562 00:24:18,800 --> 00:24:22,119 Speaker 4: like five hundred bucks. But the smallest cheapest ticket to 563 00:24:22,119 --> 00:24:25,560 Speaker 4: get in was about two grand. And so the average fan, 564 00:24:25,600 --> 00:24:27,720 Speaker 4: I mean you want to spend a Super Bowl is 565 00:24:27,720 --> 00:24:30,600 Speaker 4: not even that expensive, right, So in this facility could 566 00:24:30,600 --> 00:24:32,400 Speaker 4: hold hundreds of thousands of people. So when you don't 567 00:24:32,400 --> 00:24:35,960 Speaker 4: create multiple press points, you're alienating an audience that would 568 00:24:35,960 --> 00:24:37,160 Speaker 4: have a bought a hot dog, they would have about 569 00:24:37,160 --> 00:24:38,760 Speaker 4: a T shirt, they would have about a hat. Maybe 570 00:24:38,800 --> 00:24:40,679 Speaker 4: they were only spent five to seven hundred bucks on 571 00:24:40,720 --> 00:24:43,439 Speaker 4: a ticket, and you could have made massive fields of 572 00:24:43,680 --> 00:24:46,119 Speaker 4: just watch areas where people could just be part of 573 00:24:46,119 --> 00:24:48,639 Speaker 4: the experience hearing these cars raced down the road. I mean, 574 00:24:48,640 --> 00:24:51,159 Speaker 4: we had a balcony suite over the Cosmo and that 575 00:24:51,280 --> 00:24:52,639 Speaker 4: was good enough for me. I mean, we threw a 576 00:24:52,680 --> 00:24:55,600 Speaker 4: party there, and they could have created opportunities like that 577 00:24:55,680 --> 00:24:59,160 Speaker 4: for themselves, made money off of that. So people again 578 00:24:59,200 --> 00:25:02,080 Speaker 4: weren't negative. And now they alienated so many fans that 579 00:25:02,119 --> 00:25:04,200 Speaker 4: were in Vegas that couldn't experience, that couldn't go back 580 00:25:04,200 --> 00:25:07,000 Speaker 4: home and tell their friends, and created more fans that way. 581 00:25:07,160 --> 00:25:08,120 Speaker 5: The solution to that. 582 00:25:08,440 --> 00:25:10,360 Speaker 4: Have one hundred dollars, take a price, have a five 583 00:25:10,400 --> 00:25:12,840 Speaker 4: hundred dollars, have a thousand dollars, have different areas and 584 00:25:12,920 --> 00:25:15,320 Speaker 4: you can offer different services. You know, in some of 585 00:25:15,320 --> 00:25:17,760 Speaker 4: the suites that I went into, they had caviar and 586 00:25:17,880 --> 00:25:20,760 Speaker 4: Kobe beef sliders, right cool, Well that's where the forty 587 00:25:20,880 --> 00:25:22,880 Speaker 4: with those tables were twelve thousand dollars that we were at. 588 00:25:23,440 --> 00:25:25,480 Speaker 4: Outside of that, you can have another zone and have 589 00:25:25,560 --> 00:25:28,600 Speaker 4: McDonald's sponsor that Zoe, Sirve Big Max. You know that 590 00:25:28,680 --> 00:25:31,679 Speaker 4: one doesn't need caviar, You just need catchup, right, So 591 00:25:32,520 --> 00:25:34,920 Speaker 4: having multiple price points will get more people in the door, 592 00:25:34,920 --> 00:25:37,600 Speaker 4: will increase yourselves, and we'll create more fans, especially for 593 00:25:37,640 --> 00:25:40,480 Speaker 4: an organization like this. Now, that doesn't always work for 594 00:25:40,560 --> 00:25:43,600 Speaker 4: your premium luxury brands, right Like for example, if you know, 595 00:25:43,680 --> 00:25:46,600 Speaker 4: if you're selling Rolls Royce or Lamborghini's, you don't want 596 00:25:46,640 --> 00:25:48,879 Speaker 4: a fifty thousand dollars car. It's going to ruin your brand. 597 00:25:49,040 --> 00:25:51,199 Speaker 4: But f one's not at that level, right, it's a 598 00:25:51,200 --> 00:25:53,160 Speaker 4: sporting event. The more people can get in the front door, 599 00:25:53,160 --> 00:25:55,399 Speaker 4: the more fans you can create, the more revenue you're 600 00:25:55,440 --> 00:25:58,240 Speaker 4: going to make and in my opinion, not having multiple 601 00:25:58,240 --> 00:26:00,560 Speaker 4: better price points, especially at the lower end, and was 602 00:26:00,600 --> 00:26:02,320 Speaker 4: something that was a disservice to them. It was a 603 00:26:02,320 --> 00:26:04,439 Speaker 4: disservice to the fan, and it was a service to 604 00:26:04,520 --> 00:26:07,160 Speaker 4: f one frankly, because they had a golden opportunity really 605 00:26:07,200 --> 00:26:12,399 Speaker 4: increased the exposure and minimize the negativity. So we've covered 606 00:26:12,440 --> 00:26:15,440 Speaker 4: building your culture. We've covered don't gouging the consumer. We've 607 00:26:15,440 --> 00:26:18,320 Speaker 4: covered having better communication for the fans. We've covered having 608 00:26:18,520 --> 00:26:20,920 Speaker 4: better customer service, of which I think they had none. 609 00:26:21,119 --> 00:26:24,680 Speaker 4: We've covered the multiple price points, and finally the last one, 610 00:26:24,760 --> 00:26:26,520 Speaker 4: which is something that I think they need to attend 611 00:26:26,560 --> 00:26:29,200 Speaker 4: to right now, and they kind of got it by accident. 612 00:26:29,400 --> 00:26:31,600 Speaker 4: I'll tell you what that is in its reputation management, 613 00:26:31,920 --> 00:26:33,359 Speaker 4: controlling the narrative. 614 00:26:33,560 --> 00:26:33,760 Speaker 5: Right. 615 00:26:34,080 --> 00:26:36,480 Speaker 4: So when this all went on on Thursday, I didn't 616 00:26:36,480 --> 00:26:38,399 Speaker 4: see them come out with the big PR push. I 617 00:26:38,400 --> 00:26:40,919 Speaker 4: didn't see one common PR company kind of start pumping 618 00:26:40,920 --> 00:26:42,600 Speaker 4: in better positive news. 619 00:26:42,880 --> 00:26:43,960 Speaker 5: Leading up to the race. 620 00:26:44,040 --> 00:26:46,320 Speaker 4: It was just always about how there was going to 621 00:26:46,320 --> 00:26:49,119 Speaker 4: be less fans, that the price expectator, that thicket prices 622 00:26:49,119 --> 00:26:51,920 Speaker 4: had dropped by seventy five percent in the aftermarket, people 623 00:26:51,960 --> 00:26:54,159 Speaker 4: that had paid five thousand dollars for tickets. Could buy 624 00:26:54,240 --> 00:26:56,440 Speaker 4: them now for two thousand on stub Hub. There was 625 00:26:56,480 --> 00:26:59,399 Speaker 4: talks about hotel rooms dropping their prices by ninety percent. 626 00:26:59,600 --> 00:27:02,520 Speaker 4: And yeah, that's exactly what happened. Like I said, that's sweet. 627 00:27:02,560 --> 00:27:04,600 Speaker 4: That I was supposed to have was one hundred thousand dollars, 628 00:27:04,800 --> 00:27:07,080 Speaker 4: and up until about three weeks before the race, my 629 00:27:07,119 --> 00:27:09,040 Speaker 4: host says, sor right, we love taking care of you, 630 00:27:09,119 --> 00:27:12,119 Speaker 4: but you know we're going after these coming in Erab money, 631 00:27:12,240 --> 00:27:15,600 Speaker 4: Singapore money, money from China. There's an international Big Ball race. 632 00:27:15,600 --> 00:27:17,560 Speaker 4: There's a lot of billionaires in town, so they wanted 633 00:27:17,600 --> 00:27:19,880 Speaker 4: to kind of gouge up all the rooms. Well, sure enough, 634 00:27:19,920 --> 00:27:22,160 Speaker 4: they didn't sell out. The average fan didn't show up, 635 00:27:22,359 --> 00:27:24,080 Speaker 4: and sure enough I get a call from the host. Hey, 636 00:27:24,080 --> 00:27:26,040 Speaker 4: that same room we wanted one hundred grand for we'll 637 00:27:26,040 --> 00:27:28,080 Speaker 4: give it to you for free. Right, And that didn't 638 00:27:28,119 --> 00:27:30,160 Speaker 4: just happen to me. That happened clear across the board. 639 00:27:30,280 --> 00:27:32,199 Speaker 4: And then you talk about these tens of thousands of 640 00:27:32,200 --> 00:27:34,320 Speaker 4: hotel rooms in Las Vegas, all of a sudden, seat 641 00:27:34,320 --> 00:27:36,440 Speaker 4: of charging five thousand a night, they were offering them 642 00:27:36,440 --> 00:27:38,639 Speaker 4: for a thousand or free race tickets. So by the 643 00:27:38,680 --> 00:27:40,960 Speaker 4: time they were reacting. People aren't going to plan to 644 00:27:41,000 --> 00:27:43,199 Speaker 4: spend twenty thousand dollars on a race in the last second. 645 00:27:43,240 --> 00:27:49,000 Speaker 4: So reputation management and controlling the narrative. Once that disaster 646 00:27:49,119 --> 00:27:51,800 Speaker 4: happened to them on Thursday night, they had had they 647 00:27:51,840 --> 00:27:54,280 Speaker 4: had reputation management or pr in place, they could have 648 00:27:54,280 --> 00:27:56,000 Speaker 4: gone ahead of it. They could have said, guys, this 649 00:27:56,040 --> 00:27:58,400 Speaker 4: has happened before. It's happened to two other races. It's 650 00:27:58,440 --> 00:28:02,800 Speaker 4: not because we're new, it's not because cut corners. It's because, frankly, 651 00:28:02,960 --> 00:28:05,479 Speaker 4: shit happens. We fixed it. Sorry, the race I had 652 00:28:05,520 --> 00:28:07,720 Speaker 4: to get called. It was only a practice session. You 653 00:28:07,760 --> 00:28:09,879 Speaker 4: know what, We'll give you your money backer if I 654 00:28:09,920 --> 00:28:11,159 Speaker 4: get it. You don't want to give money back, give 655 00:28:11,200 --> 00:28:12,920 Speaker 4: him a free race ticket for next year. That would 656 00:28:12,920 --> 00:28:15,480 Speaker 4: have cost you nothing. It would have kept a loyal fan, 657 00:28:15,600 --> 00:28:17,800 Speaker 4: and they still could have cost made more money next year. 658 00:28:17,840 --> 00:28:19,840 Speaker 4: But they came out with this bso hundred dollars credit. 659 00:28:20,160 --> 00:28:21,760 Speaker 4: The other thing I think they could have done is, 660 00:28:21,840 --> 00:28:24,000 Speaker 4: you know, managing the narrative after the fact. 661 00:28:24,040 --> 00:28:24,360 Speaker 5: Right now. 662 00:28:24,359 --> 00:28:26,200 Speaker 4: It ended up being one of the best most competitive 663 00:28:26,240 --> 00:28:29,560 Speaker 4: races they've had all year. Everybody that was unanimous even 664 00:28:29,680 --> 00:28:31,879 Speaker 4: some of the drivers, one of my least favorite drivers, 665 00:28:31,920 --> 00:28:34,080 Speaker 4: were stapping because of his attitude. You know, he was 666 00:28:34,119 --> 00:28:37,320 Speaker 4: bagging on rate f one saying how this was uncalled for, 667 00:28:37,480 --> 00:28:39,760 Speaker 4: and you know, really piling on and being the guy 668 00:28:39,800 --> 00:28:42,480 Speaker 4: who's your top money making driver. Shut up, you know 669 00:28:42,520 --> 00:28:45,080 Speaker 4: you're making money. You have sponsors to answer too. He's 670 00:28:45,080 --> 00:28:48,280 Speaker 4: bitching about being at these after parties. Dude, that's your job. 671 00:28:48,360 --> 00:28:48,520 Speaker 5: Man. 672 00:28:48,560 --> 00:28:51,240 Speaker 4: You're not just a driver, You're an entertainer. You think 673 00:28:51,280 --> 00:28:53,480 Speaker 4: that by just sitting here behind a podcast. We have 674 00:28:53,560 --> 00:28:56,960 Speaker 4: responsibilities to our organizations and our sponsors, So shut. 675 00:28:56,800 --> 00:28:59,720 Speaker 5: Up and drive. That's my very snap of dog. Right. 676 00:29:00,560 --> 00:29:02,600 Speaker 4: We're gonna bump up together one day. But I love 677 00:29:02,680 --> 00:29:04,360 Speaker 4: the sport and I just wish she would support the 678 00:29:04,360 --> 00:29:07,360 Speaker 4: sport more. That's my little overstapping rant, right, But again, 679 00:29:07,440 --> 00:29:10,120 Speaker 4: reputation management, I think had they you know, once the 680 00:29:10,200 --> 00:29:12,840 Speaker 4: race ended and ended up being phenomenal, now there's positive 681 00:29:12,840 --> 00:29:16,200 Speaker 4: news starting to trickle out. Turns out, funny enough, even 682 00:29:16,240 --> 00:29:18,280 Speaker 4: throughout all this disaster, it ended up being one of 683 00:29:18,320 --> 00:29:21,480 Speaker 4: the most profitable weekends for Southern Las Vegas in forty years. 684 00:29:22,120 --> 00:29:24,000 Speaker 4: The money that came into down the billions that was 685 00:29:24,040 --> 00:29:27,840 Speaker 4: spent on infrastructure, from contractors to workers, to revenue from 686 00:29:27,880 --> 00:29:29,160 Speaker 4: gambling obviously, and spending. 687 00:29:29,280 --> 00:29:31,080 Speaker 5: It ended up being a big win for Vegas. 688 00:29:31,200 --> 00:29:33,680 Speaker 4: I think even with F one, they really lucked out 689 00:29:33,680 --> 00:29:36,080 Speaker 4: that it ended up being such a competitive race that 690 00:29:36,200 --> 00:29:38,400 Speaker 4: even the drivers who were bitching early on were like, man, 691 00:29:38,440 --> 00:29:41,120 Speaker 4: that was an amazing racetrack. They can't wait to come back. 692 00:29:41,440 --> 00:29:43,280 Speaker 4: The timing could have been worked out, but again, when 693 00:29:43,280 --> 00:29:46,760 Speaker 4: it's your first year, manage expectations. This wasn't even one 694 00:29:46,760 --> 00:29:48,240 Speaker 4: of them. But I should have made this a tip 695 00:29:48,600 --> 00:29:54,160 Speaker 4: is over promise, over promise under don't over promise in 696 00:29:54,280 --> 00:29:54,760 Speaker 4: under delivered. 697 00:29:54,840 --> 00:29:55,040 Speaker 3: Right. 698 00:29:55,080 --> 00:29:58,320 Speaker 5: Gosh, that a little interested today, But you know, said expectations. 699 00:29:58,360 --> 00:29:59,560 Speaker 4: You want to let people know they're gonna have a 700 00:29:59,600 --> 00:30:02,160 Speaker 4: great time, but then go overboard. You know, you'd rather 701 00:30:02,240 --> 00:30:04,520 Speaker 4: overwhelm them than underwhelm them. And I think in this 702 00:30:04,640 --> 00:30:07,360 Speaker 4: case the race ended up being amazing. Yeah, there were 703 00:30:07,400 --> 00:30:10,080 Speaker 4: some logistical hiccups, and had they just made a couple 704 00:30:10,080 --> 00:30:13,480 Speaker 4: of adjustments, I think the news could have been positive. 705 00:30:13,640 --> 00:30:16,000 Speaker 4: But again, when you combine all these you got to remember, guys, 706 00:30:16,040 --> 00:30:18,200 Speaker 4: there's always going to be haters. There's always people that 707 00:30:18,240 --> 00:30:20,360 Speaker 4: are going to look for you to fail, and especially 708 00:30:20,400 --> 00:30:23,360 Speaker 4: when you're thrown on a big, flashy event, especially when 709 00:30:23,400 --> 00:30:30,040 Speaker 4: you're you know, appealing to celebrities, big dollar success TV, 710 00:30:30,240 --> 00:30:33,040 Speaker 4: you know, global event like this, you got to plan 711 00:30:33,120 --> 00:30:35,320 Speaker 4: better and these little tiny things. If you think about 712 00:30:35,400 --> 00:30:37,320 Speaker 4: when you're a multi billion dollar company, these guys are 713 00:30:37,320 --> 00:30:39,200 Speaker 4: a great run organization. I mean when you think about 714 00:30:39,440 --> 00:30:42,800 Speaker 4: what they pull off every race, they get this whole 715 00:30:43,080 --> 00:30:45,720 Speaker 4: you know, twenty cars, the entire teams get put on 716 00:30:45,760 --> 00:30:47,680 Speaker 4: a plane, on cars on boats, get shipped to the 717 00:30:47,720 --> 00:30:49,920 Speaker 4: next event, like right now, they went from Vegas to 718 00:30:49,960 --> 00:30:51,800 Speaker 4: Abu Dabi. You guys look that up on a globe. 719 00:30:51,800 --> 00:30:53,719 Speaker 4: The logistics of what these guys pull off every year 720 00:30:53,760 --> 00:30:56,440 Speaker 4: is amazing. So I'm a little surprised that these ones, 721 00:30:56,680 --> 00:30:58,960 Speaker 4: we call them dying by a thousand lashes, right, I 722 00:30:58,960 --> 00:31:01,719 Speaker 4: think these little things that they just fixed, tacked. I mean, 723 00:31:01,760 --> 00:31:04,480 Speaker 4: somebody's not involved in basicing like me can pick him up. 724 00:31:04,480 --> 00:31:06,320 Speaker 4: I'm sure they could have thought of this better. But again, 725 00:31:06,440 --> 00:31:08,520 Speaker 4: learning lesson the first chase. Overall, I don't want to 726 00:31:08,520 --> 00:31:10,360 Speaker 4: bag on F one because I'm still a big fan. 727 00:31:10,560 --> 00:31:13,080 Speaker 4: I think you know, all the drivers did great, even Verstappan, 728 00:31:13,120 --> 00:31:15,200 Speaker 4: who have some beef with you know, I respect them 729 00:31:15,200 --> 00:31:16,600 Speaker 4: a lot. They get in these cards, they put their 730 00:31:16,640 --> 00:31:19,520 Speaker 4: lives on the line. Freaking amazing sport. If you haven't watched, 731 00:31:19,520 --> 00:31:21,600 Speaker 4: to watch the episodes on Netflix and you'll see why 732 00:31:21,600 --> 00:31:24,200 Speaker 4: everybody's becoming a fan. So with that said, guys, I 733 00:31:24,240 --> 00:31:26,360 Speaker 4: hope you guys you know, got some feedback from from 734 00:31:26,400 --> 00:31:28,840 Speaker 4: my experiences at F one. Before I leave, I want 735 00:31:28,840 --> 00:31:31,360 Speaker 4: to sincerely thank everybody in this crew. You know, right 736 00:31:31,400 --> 00:31:33,480 Speaker 4: now we're in some temporary officers that these guys look 737 00:31:33,520 --> 00:31:35,280 Speaker 4: together for me because we are at NBA biz Con 738 00:31:35,400 --> 00:31:37,480 Speaker 4: next week. But I want to think obviously my co 739 00:31:37,560 --> 00:31:40,280 Speaker 4: host Blue Joe Garde and then tire staff here CT 740 00:31:40,400 --> 00:31:43,760 Speaker 4: one on one, Adrian Amir, Alexi, alex A Mondo, Madison, 741 00:31:43,840 --> 00:31:47,240 Speaker 4: Teddy the Show Dog, Daniel O'Connor, Albert cam Baxster Beach Barce, Laura, 742 00:31:47,520 --> 00:31:50,880 Speaker 4: Ali Muffins, Sunday Cassie Ruby, Goldie Brother, Pitt, Mark Hans, 743 00:31:50,960 --> 00:31:54,000 Speaker 4: Chris Frankino, Jennifer Erica and Elvis. As you can tell, 744 00:31:54,000 --> 00:31:56,760 Speaker 4: there's a whole tribe that keeps this machine running. Thank you, 745 00:31:56,760 --> 00:31:58,920 Speaker 4: guys for listening to Financial Fridays here on Kennabis Talk 746 00:31:58,960 --> 00:32:01,440 Speaker 4: one on one with Blue Joe Grande, the world's number 747 00:32:01,480 --> 00:32:03,000 Speaker 4: one source for everything cannabis. 748 00:32:03,040 --> 00:32:03,680 Speaker 5: I'm Tony Kay. 749 00:32:03,720 --> 00:32:06,400 Speaker 4: Your Insider Investment can always find me an ig at 750 00:32:06,440 --> 00:32:09,120 Speaker 4: the Insider Investor. I'm gonna see you next Friday. Remember 751 00:32:09,200 --> 00:32:11,360 Speaker 4: keep that wall tight, keep your mind right. I look 752 00:32:11,400 --> 00:32:12,880 Speaker 4: forward to seeing you on the inside. 753 00:32:12,920 --> 00:32:15,680 Speaker 3: Thank you for listening to Financial Fridays with the Insider 754 00:32:15,760 --> 00:32:19,400 Speaker 3: Investor Tony Ka on Cannabis Talk one oh one, the 755 00:32:19,520 --> 00:32:22,240 Speaker 3: world's number one source for everything cannabis.