Barn Talk - Barn Talk Q&A: Tips on Taxes, Building New Hog Barn's In 2023 & Podcast Recommendations

Episode Date: February 3, 2023

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Starting point is 00:00:00 All of the food we eat and much of the clothing we wear comes from plants and animals that are raised on farms. Farms are different in type, in size, and even in name. Welcome to Barn Talk. What happens at the barn stays in the barn until today. We're going to let it all out for you guys. Today is going to be a Barn Talk Q&A episode. If you guys want us to answer your questions, submit them to Barn Talk show at gmail.com. that's where we get these questions at. That's how we provide these answers to these amazing questions that you send in.
Starting point is 00:00:46 So if you want a question, answer, send it in. Also, before we get started, pay the fee guys. If you get any value from the show, shared out with your friends, family, coworkers, employees, whoever, the more you guys share it, the better content we can create, the better guests we can have on. It just helps everybody out tremendously. So thank you to all that have been doing that. Leave a review on Spotify and Apple.
Starting point is 00:01:08 We finally hit the 5.5. 500 five-star reviews mark on Spotify. So thank you to all that watch and listen on Spotify. And we're at to 220 on Apple. So it's growing. Nice and steady. Which is crazy. We say this all the time,
Starting point is 00:01:25 but like I look at other podcasts that I would think are like big podcasts. Yep. And the reviews do not match what size audience you think they have, which they could have a big audience, but they just don't have a lot of reviews. And that's a testament to you guys, because you guys really do leave a lot of reviews and you pay the fee. So we are super grateful for all you. But I'm a little raw today.
Starting point is 00:01:54 I don't smell very good. Yeah. I bet if this was like 5D and you guys could smell through your ear pods, your air pods or smell through the screen if you're watching, you would probably shut it off because I stink like a, I stink like shit. because I smell like hogs. And you can definitely tell who choreed today and who didn't. That's for damn sure. I'm pretty happy. So Sawyer yesterday, I had some stuff I had to do in the morning.
Starting point is 00:02:22 And when we talked to each other, he said, yeah, I went ahead and choreed site one, because I've been chore in site one. Those are the biggest pigs. Well, his pigs are big, too. But then that kind of got me soft. It only takes one day for me to get soft. So this morning I was just like, oh, hey, yeah, you're going to chore for me today, too? so I've just been, I've been busy.
Starting point is 00:02:41 I've been making outlines. I've been running errands and doing, you know, I've been doing boss man stuff. Whiskey, whiskey scouting. Yep, boss man's doing some better, getting some better bottles. Yep, always out on the lookout for bottles. Yep, yep. So, yeah, I just got done doing chores and I was like, you know what?
Starting point is 00:02:59 Screw a shower. Let's just, let's just get this shit done. So, yeah. It's all right. It's a good thing you can't smell me. It's authenticity. It's good thing we don't play musical, chairs to see what what chair you get when we have guests come on because if they got my chair
Starting point is 00:03:13 I'm probably going to you know make this chair smell a little bit but I'd have to get the old english out or leather conditioner or something that's all right that's all right it that's a good thing we'll just keep this chair nobody can have it you know it's funny you said that because uh as he said thanks to all you for sharing sharing the show and paying the fee but uh what was our what was our like phrase for 2022, it was just ask. Yeah, don't be afraid to ask. And I think the reason that a lot of these podcasts don't have reviews and don't have comments is because people are afraid to ask. And you are all living proof that, you know what, we appreciate the heck out of it because we decided that we were going to ask and you've all helped us out immensely. And 2023,
Starting point is 00:04:01 are, kind of our motto for 23 is authenticity. And you, you, sir, are the epitome of authenticity today. Shit kickers on and everything. Hell yeah. Yep. I'm here. I'm fucking raw and I'm ready to rock. So we couldn't miss out on shooting an episode of Barn Talk,
Starting point is 00:04:22 no matter how bad I smell. So that's how we do it. We got a lot of questions, good questions today. And so we're going to do a market update, but we're going to do fast and loud. I hope that's not trademark. We're going to do a quick version. I'm not going to ramble.
Starting point is 00:04:39 Today's market updates, courtesy of cats, green, Washington, Iowa, so shout out to those guys, good people down there. Corn, 689, and that's at Eddiville, and 681 on the board. So some of these numbers, so the cash numbers are from yesterday because when I did this, I didn't have the clothes,
Starting point is 00:04:59 so it wasn't updated. Beans, 1507 on the Iowa side, 1532 on the Quincy side, and 1515 on the board. So that number will be lower when it gets updated, guaranteed. Wheat 734, hogs 76, 75. These hogs, I tell you, they need to get a lot higher because it's a bloodbath right now. Cattle 155. Oil is 80 bucks. Gold, 1930.
Starting point is 00:05:26 It's kind of floating up a little bit. Silver, $24. Bitcoin 21,500, Ethereum's $1,27. Tesla $127. Annual report for Tesla is the 25th. I think a lot of people are going to be surprised, but that's just because I'm kind of a Tesla fan boy. So look at that.
Starting point is 00:05:44 That was like 45 seconds. Hey, rapid fire. One thing I'll say, shout out to my good friend, Jim Eady. I talked to him the other day at Swine Webb. They feature our stuff a lot, and we appreciate the heck out of that. and if you want to know about anything going on in the hog business, it's probably on Swine Web because they gather up all that stuff. And we've been posted a lot more stuff on Twitter since Elon bought it, which makes sense because I like Elon. So check us out on there. Sometimes we have a few,
Starting point is 00:06:16 sometimes I put my deep thoughts out on Twitter. So check that out. Everything's on there. I'm on there. Barn Talks on there, and this will do farms on there. I'm on there too. Yeah. Thanks for leaving me out. You just don't say anything. Yeah. I don't. I just like shit.
Starting point is 00:06:31 Yeah. I like stuff. I don't really tweet much. But that's just me. We got a little bit of a new kind of thing for the Barn Talk Q&A's. We're going to have a question of the day. So this is a question that we really, really like that we found that's kind of interesting. We think that it's probably the best question we got that we're going to start off with.
Starting point is 00:06:53 Not saying all the rest of you to ask questions. They're not as good. This is a pretty good one. So this is from Sutton, and he asks, if the company you guys raise pigs for ever sell to, let's say, a Chinese company that you didn't support in any way, what would you do? Would you start raising your own pigs or make an attempt to grow for somebody else? Dad, I'll let you start with that one. Short answer is probably the quick, the quick and easy thing would be we'd want to find somebody else to, feed for. And that can be kind of tricky because in, and I know this from when I was selling
Starting point is 00:07:36 buildings, JBS or Cargill sold to JBS, and something that I didn't realize was that the way their contracts were written, when a company, and not all contracts are like this, but, and I'd have to look and see how ours is, but a lot of times the way those contracts are written is if a company switches ownership, but nothing changes as far as they don't want to amend your contract, if they don't want to change anything in your contract, then that contract stays legally binding unless they allow you out of it. So in other words, they could force you to stay in the contract. that's somewhat unlikely because what I always tell people when I used to write contracts for the company I used to work for, you know, people would be like, well, what if I want out of my contract? Well, when we're paying you to take care of pigs,
Starting point is 00:08:40 if you don't want to take care of them, or if you don't want to be with us, chances are you're probably not going to do a very good job of raising pigs for us, which makes us probably not want to have you raise pigs. So it's kind of, one of those deals that even though you are in a contract, both parties really have to work together, otherwise it really doesn't work. So chances are they would let you out of the contract, but that is something that is kind of curious because they can assume the contract and technically you don't have the option to get out. We would try to get out. We're very lucky in the fact that where we live, where we farm in southeast Iowa, competition is really good. I'd say we probably have the best competition when it comes to independent growers and
Starting point is 00:09:34 integrators all the way up to your big players like the JBSs of the world. And so we would probably try to find somebody else to feed for short term. but, I mean, I don't know. I think we can say this. Yeah, long term, I'd like to graze our own pigs one day. That'd be amazing. There's a lot of people in our area that they raise their own pigs. They own shares in a sow unit.
Starting point is 00:10:01 And, you know, it's a little bit tougher of a proposition when corn's as high as it is, because it's hard to walk that corn off your farm, so to speak. and actually make more per bushel than where it is when it's really high and the hog market's low. But over a 10-year period, feeding your own pigs and running your corn through them, if you have the corn, you're probably going to come out ahead. There's probably going to be a couple years in there. It's going to be an absolute freaking bloodbath. But if you can weather that storm in the long run,
Starting point is 00:10:38 you probably can still make more money feeding your own pigs. And we like the idea of the independence. we're just not at a place where we don't have a feed mill we don't have all that stuff and we have a great relationship with the people we feed for and it's been beneficial for both of us and we'll probably keep doing that but yeah i would agree i i don't really want to support a chinese company if they bought bought our our integrator right now uh yeah i i i agree with everything you said there go find somebody short term long term we would try to yeah raise their own pigs. You just need more infrastructure. It's not as easy. You know, you got to,
Starting point is 00:11:19 you got to mill your own feed. You got to do all that. And if they need, if they need antibiotics, you got to give them antibiotics, you got to buy the antibiotics, all that stuff. So got to get a VFD. Got to get all that. Yeah, you got to get all that. You got to truck them. You know, you got to do everything. So it's, I don't think we'd ever go as far as like building a sal unit. Right. But, yeah, buying into a sal unit, that that's something that definitely interests me. And I think it just makes sense. Like I saw somebody say on one of our last podcast, I think it was the hot topics and we were talking about AI or something and somebody put in there, we should have our own genetic line called Torx Pork. You know, I think you guys really realize that, hey, like, we do have a brand here and like, you know, someday it would be awesome.
Starting point is 00:12:10 That's only going to benefit us in the long term. especially when we're raising animals, like we can brand our product. I think the more we do this, the more the idea of branding our own product appeals to us. So we'd be lying if we said that that doesn't ever cross our mind, but we're just not there right now. Well, if you see somebody that looks like me on a pack of bacon, you know, holy cow, now that guy there obviously eats a lot of bacon. Take pride in your cue, motherfucker. see as Verdad.
Starting point is 00:12:46 That's what it says on the side of his hat if you didn't know. Is it that side? Yep, that's a side. There you go. Yep. I do take pride. Yeah. Absolutely.
Starting point is 00:12:53 Yeah. I'm going to ask you this one too because you probably got more expertise in this. This is a tax question. Oh, yeah. I love this question. And I, I'm young in the game. I'm not, I will just be the first to tell you. Taxes is where you lose me.
Starting point is 00:13:08 I need to get better at it. I suck at it right now. I'm trying to understand it. that's hard man learning that tax code's hard and so i need a little help sometimes i mean that helps me out a lot with taxes thank god because oh i could have you know you don't ever know you could lose your ass if you don't know the tax code so um brian asks hey guys i'm a 28 year old farmer from tennessee i background several head of cattle and now i'm in the process of building two commercial poultry houses i mainly rent land but this year i've bought my first 100 acres of
Starting point is 00:13:43 farmland. On top of all this, I have a small trucking business. My question is, how to be better prepared for tax time every year. It's a major headache, and now I've added more to the mix. Do you have any tips and tricks for organizing and keeping track of this paper trail? Yeah, when I read this question, I laughed. I literally laughed out loud because I was like, of all the people, you should ask a question about taxes. I'm probably not one of them, because I can tell you that my tax returns from last year aren't done yet. Because, well, there's, there's, so now today, when my father passed away, my mom is in, is in a retirement home, but she has a, so obviously she has to file a return.
Starting point is 00:14:32 The trust, the farmland went into a trust, so the trust files a return. I have my personal return, which our LLC is in. My wife has a business that is an LLC that gets filed on her return, and we filed jointly. And then Sawyer farms with me. He is an employee on my side, but then we do stuff together, and he has his own LLC. And then my other son has an LLC with Sawyer, their partners, and then has his own deal. so it's like... And we have this.
Starting point is 00:15:09 This LLC. Yeah, exactly. Then we added TDF Media, which is the podcast and the YouTube channel just because we had to keep it all straight, so we formed that. So I will tell you that I have angsted over tax season every year since I started farming.
Starting point is 00:15:33 And... Um, a couple years ago, the accountant that I'd had for a decade, tragically was in a motorcycle accident and passed away just like, nobody saw it coming. It just happened on a Saturday night. Um, and that through everything. I mean, I had to find a new accountant and, um, it was a mess. It was a real mess. But we're through all that. And what I can tell you is this. one that does all of that doesn't sound simple however you need to for me keeping your entities somewhat separated helps in the long run because it gives you more flexibility as far as how you
Starting point is 00:16:26 can structure things as far as what entity owns things and buys you know as far as as expenses go, who buys what, you can make some decisions as to how you want to own things and who, what entity you want to have own things, which if you're playing the really long game and you're looking at retirement or selling a business or handing that down to family members, having those entities separate really helps because you may decide at some point that you may want to sell that trucking business and keep the farm. And if that's all a convoluted mess, it makes it really hard. But if it's kept separate, it makes it a lot simpler.
Starting point is 00:17:10 Or if you're going to hand it down or you have multiple errors that you're going to do that, that helps. That's important. The best thing that I ever did, and honestly, I just did this in the last couple years. All of my bank statements get automatically sent. Well, they don't even get sent today. So my accountant, one of the people that work for my accountant, they log in, they get all my statements, and they're doing my books for me.
Starting point is 00:17:44 Now, I write all the checks, but as far as my monthly statements go, they get all that stuff. When it comes year-end, the only thing I really have to do with them is get the, you get a statement from, like we get, statements from farm credit, you know, how much interest you paid, what your patronage is, mortgage interest, that kind of stuff. And I scan that and email it to them. I am a horrible bookkeeper. I have tried, and I have gotten way better than I was when I was younger, but I used QuickBooks and I use this and I use that. And the truth of the matter is,
Starting point is 00:18:27 that's not what I'm good at. And realizing what you're good at, if you're somebody that enjoys numbers and you like organizing, then, you know, do your own books. But you got to realize that everything is about time. And that time that you spend doing that, is that the most efficient use of your time? And is that contributing to the profitability of what you're trying to do? Or could you spend that time on something that is going to grow your business or make you, more money and that's what you have to weigh out so we made the decision here a couple years ago after my accountant passed away that we were going to go basically 100% uh hands off and i will say that i probably am as stress free financially as i've ever been and not because
Starting point is 00:19:28 not because I got everything paid for, not because I don't have any less debt than I had before, but because I know, I know I'm not going to get any letters from anybody saying that, you know, you owe this or you owe that, and I know everything is getting taken care of. And it goes back to, I think we've talked about this before, but you really need, if you're going to run any kind of a business,
Starting point is 00:19:56 you really need a team. You need an accountant that you can have candid conversation with. You need a lawyer. You need a banker. Those three people, probably an investment guy, unless you're, you know, you want to handle your own stuff. But I feel real strongly that I have a really good accountant. He's got a really good team. And, you know, when I have a question, I can email him and he gets back to me.
Starting point is 00:20:20 So my advice to you would be this. find somebody that you trust and unless you're real comfortable crunching all those numbers and gathering up all those forms in this day and age it's so easy to let to give somebody permissions to log in to view your accounts and you know there's all there's all levels you couldn't do this even i don't know you probably couldn't do this five years ago but like today i can give them uh permissions where they can view all my accounts They can't change anything. They can't write checks. They can't transfer money, but they can view everything, print off what they need. So there's a lot, there's a lot higher level of comfort that you can get dealing with a,
Starting point is 00:21:09 dealing with an accounting firm than what maybe you had even a few years ago. And it keeps getting better. So I think that would be my number one advice is if it is, and I mean, yes, it's some money, but in the grand scheme of things. What I pay them to do my books, it is a penance compared to the late nights, the weekends, the stress level of trying to get stuff done the last minute and people calling you saying, well, I need this and I need this and you have no freaking idea where it's at. Like you, all through the year, you know, you get this stuff and you're like, oh, I better save that. And then come tax time, you have no freaking idea where it's at. And that's not true. for everybody, but that's how I was. So anyway, that would be my number one advice. And
Starting point is 00:21:58 structure your entities so that they're separate. Yeah. And I mean, I'll just say it. If that works best for you. Yeah. Ag's one of the best, it's one of the best damn things out there as far as to build, to me, if you do it right, to build wealth, because it is a capital-intensive business but there's so many things that you need to run that you can use in other things and I think you realize that obviously if you're farming if you're doing ag if you're doing poultry and you've got 100 acres that you purchased and I don't know if you're doing a row crop or not but you're running a trucking business too the amount of equipment and the amount of stuff that goes back and forth that you can use to help basically hold on to more of your money and any of you that are you know
Starting point is 00:22:56 chances are none of you're probably hating on me too hard if you're listening this podcast but if you're a if you're a if you're a freaking snowflake that thinks that you know we're all greedy capitalists and everybody should pay their fair share their own fair share and all that well you just might as well shut this off because my opinion of that is that you know i'll be more and happy to pay my government to kill people, break things, and keep me safe. And beyond that, the United States government isn't good for a damn thing. And they're not good at social engineering. They're not good at, well, they're not good at managing people's health.
Starting point is 00:23:30 I mean, you could go on and on. So my goal, unabashedly, our goal, farming, is to make a profit and then hold on to as much of that profit as we can to reinvest in our business. And I don't feel guilty about trying to do that at all. and so i i would think most business owners would agree i mean that's what you have to do because every we were just talking about we were literally just talking about expenses and how expensive stuff is and it's like you you got to really work to not only make a dollar but then trying to keep a dollar is hard it is hard to keep a dollar and so you got to use the tools and and i i think it's
Starting point is 00:24:15 hilarious. I'm getting off a little bit. I think it's a little hilarious when they were going after Donald Trump for his tax returns. And guess what? They finally got his tax returns and they reached, and it was a big nothing burger because guess what? He didn't make any money. He didn't make any money. In fact, he lost money and he used the tax code. And he told him in that, in that debate with Hillary Clinton when they were talking about money, he told her, he said, I have used the tax. The tax code that you people put in place, I have used it to make my money. And people act like, oh, that, you know, that son of a bitch, that greed. He did exactly what every other businessman does. Well, and probably what Hillary was doing too.
Starting point is 00:25:02 Well, hell yes. He, people use the tax code the way, it's written that way to incentivize people to use it that way. Yep. So, so use it. Get people that are smart. and help you keep the dollars that you make because making the dollars is a hard it's it's never going to get any easier it's only going to get harder so the dollars you make try to keep them so that's my advice that's my rambling answer yeah i'd give you i can't disagree with that can't disagree can i get an amen amen all right i'll give you one now hey this is going pretty well i've only stumbled my words about two times so that's good if you've gotten this far leave a review on spotify or apple it really helps us out guys that's all i ask now let's get back to the podcast all right uh this should be a
Starting point is 00:25:56 pretty simple one yeah well this is good for you yeah so awesome is looking for podcast recommendation when there isn't a new barn talk yeah so we we tend to we're kind of um we are kind of information i don't even know what you say we we we are uh We suck up information like a mofo, dad and I. We are constantly listening to podcasts, constantly watching videos of just interesting people and just different opinions and all that. We love podcasts.
Starting point is 00:26:24 So I'm more, I feel like dad's more like, you are more geopolitical, economics, demographics, technology. I'm more like, my podcasts are more like business, entrepreneurship, mindset. real estate, that kind of deal. And so I really like Andy Fricela's real AF. He gives a lot of, he gives a lot of good advice, but he also just puts his boot up your ass and tells you to get your ass going. And that's nice to hear. And I really like him as well because he shows you what's possible. He came from a small town in Missouri. And, you know, I'm a rural America kid and hearing a guy that started from a small town and built a $100 million plus business is pretty inspiring.
Starting point is 00:27:19 And, you know, he's not Elon Musk. He's just put his head down and grinded. So real AF's good. Ed Mylett's podcast is good. All-In podcast is good. Joe Rogan's podcast is good. He has a pretty good guess on there. You just got to weed out the ones that are kind of eh. You know, he has so many guests on there that it's hard to really know. And I would also say, um my first million podcast is really good it's with sam par and i can't remember the other guy's name but that is a really underrated podcast that's meat potatoes business last one i'll say is the game by alex ramosey uh Alex Ramosey is probably the number one business uh content creator out there that i consume a lot of his stuff right now because he is all meat and potatoes no fluff he
Starting point is 00:28:11 gives shit, like he gives all the shit that you could possibly think of and want for business information and like leaves nothing out, which is really nice to hear. So he's really good if you haven't found him either. So those are my recommendations. I don't really listen to fun ones. Like I don't have, I don't listen to really comedy or anything. I'm more just like, I'm trying to get something of value out of podcast when I listen to him. Um, Mike Rose podcast. I listen to that a little bit, that's pretty good. So that's all I got. Yeah, I think I'm about, I mean, I'm about right with you. I don't listen to as much as many podcasts as you do. I listen to all in quite a bit. I really enjoy that. It is big picture economics, everything from Silicon Valley
Starting point is 00:29:00 to politics to geopolitical. I'll listen to about anybody's podcast when they have somebody like Peter Zion on or if Chimoth, one of the guys that's on All In, if he's on something, I'll listen to it. Joe Rogan, I agree. He has some excellent guests, but then, you know, if he has a comedian or UFC guy or somebody that is talking about aliens, I don't, I kind of skip on those. I watch a lot of YouTube. A lot of the Tesla people that I listen to are on YouTube, but I also listen to a lot of geopolitical stuff. I like keeping up on what's going on in China. One thing I'll say that's probably a little bit odd about us is we don't consume a lot of podcasts about necessarily ag. And I think that's because we, I think it's mostly because we're so immersed in it and we know so many people.
Starting point is 00:30:15 Like if I have, if I want to know something about, okay, just a perfect example, I was sitting and talking to my fertilizer rep and David Zezer, David's friend of the show, Farms does a lot of custom work for us. and we had lunched yesterday with our fertilizer dealer, and we were talking about biologics. And if I want to know about something like that, I know so many people that are way more schooled on it than me that I'm just going to call them, and I'm just going to talk to those people. So I don't find myself drawn to a lot of ag stuff
Starting point is 00:30:59 just because I can get that information whenever I want it from people that, you know, I trust. And so we mostly focus on general business and stuff that we're real interested in. Yeah, just kind of like the stuff we talk about on this podcast that's not always ag-related. I mean, those are the things that we're interested outside of just agriculture. And I mean, obviously farming is a business. It's in itself. consuming business content, I think, is beneficial no matter if you're in farming or not. So those are my recommendation.
Starting point is 00:31:36 All are good. All have great episodes. The Pomp podcast is good. Anthony Pompeiano, that's good. He's interviewing a lot of good guys on there, too. So plenty of recommendations there. Just dive into one and, you know, kind of dabble. And I think that you'll get a lot of value from those guys because they bring the heat.
Starting point is 00:31:53 So that's my recommendation, man. Lane asks, what do you think the future, what do you think that the future holds with animal nutrition? How can we continue to grow both better animals and crops with less resources to do so? Chip them. Chip them. I mean, I think that's the. Put your mic down, though. Oh, yeah.
Starting point is 00:32:19 Sorry. There you go. It doesn't, I don't know. It's kind of loose. It's kind of loose. It's got to tighten it up. Tighten it up. There we go.
Starting point is 00:32:24 There it is. They want to see your pretty face. No, keep it like that. There you go. Maybe turn it up a little bit now. There you go. That's perfect. I would say, in my mind, the next, you can call it a leap, the step to individual animal performance,
Starting point is 00:32:52 because the technology is there. And the first place that they're going to try it, you know, everybody's freaked out about they're going to chip people. And you should be, because I don't think that's probably a very good idea at all. But the first place that's going to happen is animal agriculture, because you think about the possibilities of when you can do an implant in a pig to where you're monitoring their temperature and some basic, some basic information.
Starting point is 00:33:31 vitamins, iron, I mean, nutrition. Yeah, nutrition. Yeah. I mean, I don't know what the, I don't know where that goes, but I think that we will probably get to the point where when we fill a barn with pigs, the software will become good enough that, you know, I'll get a readout. You know, today, I pick up my phone and I've got an app and I can go to barn tools and see what the temperature my Barnes is and and I can get on my my controllers. I've got expert controllers from
Starting point is 00:34:03 AP and they can give me my run times and give me how many amps my fans are running. I don't think it's going to be any time at all before we'll have an interface either on the control or on that alarm system where I'll get a read out and I'll know what pigs within that building are sick having eaten or running a fever. Dead. Dead. Yeah, dead. And ones that are killing it.
Starting point is 00:34:31 Yeah, right. I think there's so much information that it'll come. When's that going to happen when somebody's willing to pay for it? I mean, that's the flip side of it is. It'll happen first in poultry. I mean, I don't know whether it'll happen. Poultry producers are much more progressive than hog producers as far as it. when you look at like bin scales and knowing how much feed is going into the building,
Starting point is 00:35:01 water usage, testing water, testing feed, all that. The poultry industry's always been way ahead of the hog business. And part of that's because it's so consolidated, which isn't necessarily a good thing. But on the hog side, costs drive everything. and guys are always worried about their bottom line and they don't want to spend any money if they don't have to and keep their production where it needs to be. So it's a slow process,
Starting point is 00:35:32 but at some point I think that's probably the next huge jump in animal nutrition is being able to make a change in your diet and then know quickly in a production, not in a test facility, in a production facility, how that change affects your animals. And when you can do that, I think the speed of change is going to just...
Starting point is 00:36:00 And the quality will be phenomenal because they'll just make... When they realize something's not working or they realize something is working, they'll just either double down or change something. Yeah. And make it better. So, which is going to be better meat quality for everybody. Well, better meat quality, production, less days on feed, less feed. I mean, carbon footprint.
Starting point is 00:36:21 I mean, we're all worried about our ESG score. I don't know. Not me. Maybe you. Not me. I'm chilling. Yeah, I mean, all that stuff that, you know, all these things that we all want to get better at.
Starting point is 00:36:35 We want to get more calories for less money using less resources. The way you do that was with information. And that's probably nutrition. nutrition is going to go right along with it. Yeah. Yeah, I don't really, I was looking at that question, I was thinking, and I think you came up with a better answer that I ever could. So nutrition isn't one of my strong suits either.
Starting point is 00:37:03 It's not something I really had to think about. If we had to raise our own pigs, something I probably would have thought about a lot more. But I think you got a good point. The more data we know, the more we know about the pigs, more we could see how it's affecting the pigs, the better we can feed them. Nutrition's always been important to me.
Starting point is 00:37:22 I've been on full feed for 51.5 years. And look at where it's got. I'm not bad at a human nutrition now. You know. You are. I kind of know a little bit about human nutrition, although there is a lot of bullshit fluff out there that one day you'll see on TikTok,
Starting point is 00:37:39 they're telling you that fucking lettuce is bad, and then the next day they're telling you that dairy's bad. And the next day, they're telling you eat a bowl of fucking lucky charms over ground beef or an egg fried in butter. I mean, geez, you don't know what to believe. So, you know, honestly, my thought on that is just eat what is naturally, like, eggs versus Lucky Charms. I'm picking a goddamn egg every time.
Starting point is 00:38:04 Not saying Lucky Charms never have a bowl, but like, yeah. That food pyramid that came out, we'll have to talk about this a little bit on hot topics. Yeah. So that's definitely hot topics. and I looked at that and everybody, everybody's kind of jumping on the whole Lucky Charms versus Ground Beef, which is idiotic. But I thought, to me,
Starting point is 00:38:23 even more idiotic than that. Because to, I don't know, I might be wrong on this, but I feel like the science is, is just about settled on this, and maybe not. Maybe it's not. But I thought everybody pretty much decided
Starting point is 00:38:41 that seed oils versus, olive oil, avocado oil, or butter. I thought everybody knew that seed oil is freaking horrible for you. Causes a lot of inflammation. I haven't cooked anything in cooking oil and I don't know how long. But on that list, they had, I think they had like egg substitute. Maybe it was egg white fried in seed oil. and it was on recommended
Starting point is 00:39:14 and then down below it had egg fried in butter and it was like, don't have that. Okay, if there isn't a more blatant Oh, it's unbelievable. That's a horrible idea. Don't do that. Have the egg fried in butter
Starting point is 00:39:28 or canola or avocado oil or olive oil or whatever but probably butter. I'd just soon have the butter. Anyway, believe me, there's going to be hot topics about the food pyramid. So stay tuned.
Starting point is 00:39:40 I'll read you. this one okay Ross asks we farm about 750 acres and don't have enough income for me to come back to the family farm I have a passion for pigs and for the past year I've been kicking around the idea of building hog building unfortunately as you both know the building prices are completely insane right now by bank said they'd loan me enough money for two 5,000 head sites which is awesome but they don't cash flow at what point do you see hog barn prices coming back to earth if they ever do I don't really want to invest in land because I feel that the ROI is poor compared to hog marns.
Starting point is 00:40:16 I'm a junior at Purdue University studying agribusiness, so I still have about a year and a half left until I really have to decide what I'm doing. Any healthful tips will be great. I love the videos, keep up the good work. Thank you, sir. Yeah, thank you for the question.
Starting point is 00:40:33 Damn good one, long one. A lot to talk about on that one. my recommendation, and this is coming for me, you got to make your choice ultimately up for you and, you know, make what we always say, do your own research, do your own due diligence, what we say is and always, might not always be the best thing, but it might not ever be the best thing, but we just like sharing our opinions. So my kind of thought on it is, man, I just built a barn two and a half years ago, and I had to do everything. Build the driveway, gravel, well, well, cistern, everything, generator, everything.
Starting point is 00:41:18 That whole site was $750,000. And that was right before all the inflation that we started seeing, all the supply and chain issues. I was very, I'm very happy and lucky and grateful that I was able to build my barn when I did because if I would have delayed that any, it would have probably been, what do you think? Well, $50,000 to $100,000 or $150,000 more. It would have been $100,000 six months later, or at least $75,000.
Starting point is 00:41:48 Yeah. I mean, it was right when it was starting to go. And I don't know exactly what building prices are at now. I was hearing somewhere around $1,000, $900,000, $950,000. And so, you got something you want to say well i was just going to say so for point of reference on that there is a there is a hog barn being auctioned by sealed bid i think it might close next week i don't know for sure i'm very familiar with the building it was built in 2017
Starting point is 00:42:23 they had it solar to it has a generator i think it has a cistern 2480 70 wide 70 by 285 feet long 2480 set up weaned to finish and it's selling and it's a sealed bid auction the minimum bid 975,000 minimum bid
Starting point is 00:42:47 and I don't think they'll get a bid now I could be wrong I don't think they'll get a bid and if they do get a bid wow is all I have to say because not only 975 on a used shed
Starting point is 00:43:02 but then unless you're paying cash, interest is, I don't know what you could get. I don't know what you could get a loan for 80% of that if you put 20% down. So that tells you where these building prices are for a site. Yeah. Yeah, I was just going to say,
Starting point is 00:43:24 building new at this point, especially as a guy kind of getting started into it, it's going to be really hard. It's going to be really, really hard to do it, and I don't probably think that's the best route. I would say try to find sites that are probably a little more outdated. Use sites that are a little more outdated, that you know when you buy them that you're going to have to put work into them.
Starting point is 00:43:52 You're going to probably have to replace gates. Probably going to have to replace fears. Hopefully you won't have to replace the slats for a while if they were taken care of very well. But there you can figure, okay, I got my well here. The driveway's already built out. You know, the extra car, you're buying the whole site not, because like when you build that building,
Starting point is 00:44:17 you have to add all that stuff on top of the building. But buying that site, that's, and that's like peace of mind because you get all that stuff when you buy it. And like right now, I feel like if you build a site, the building's expensive, yes, but all that extra stuff is just as expensive if, you know, it adds up really, really fast. And so buying a, buying a barn that's older, that you know you're going to need to put some work in, I think that you can get at a discount. That's the way I would go about it if you can find somebody willing to sell it, sell them just because and also with that you're going to have to figure in when you ask for a loan
Starting point is 00:45:01 from the bank they might have to give you some money so that you can go in there and do some construction some revamp and some renovations because you're going to have to if you know you're going to buy a use site that's not in the greatest shape use some of that money that you would buy a more expensive barn and redo it and upgrade it and make renovations on it um That's what I think is the best route personally. Or maybe you take a page out of your, out of you and your brother's game plan. Yeah, and you could always,
Starting point is 00:45:35 you could always sell or finance it. And I think that's the way, that's the other thing. You know, you don't always have to go to the bank route. If you could find a seller, somebody that's a motivated seller that wants to get out of their situation, wants to retire, doesn't want to fuck with these hog barns anymore. maybe you can work out a deal with them that you can pay them over an extended period of time
Starting point is 00:45:57 and you can kind of pay down the loan, pay down a loan to them and then they give you the barn. And you can do that over 10 years and then maybe you can get a cheaper interest rate with them versus if you went to the bank because you can say, I'll do this with you. And it can maybe be a longer term deal plus lower interest. And if that's good with them, that's a better deal for you. Or maybe you can work out a deal where they don't have any interest on top of your payment. You know, it's really when you work with a seller, it's kind of up to you guys, and there's no bank involved, really. Besides, there's so many ways to structure a seller finance deal because that
Starting point is 00:46:33 seller also might want some upfront capital. They might not just like seller finance all of it right out to you. They might want 300,000 down, and then they'll seller finance you the rest. And then obviously, you'd have to get the bank involved. But anyway, that's my, that's my spiel on that. I don't think building, especially two 5,000 headsites, I just don't feel like that's a good time right now. Maybe in the future the prices will come down. We're seeing it up north in Iowa. In northern Iowa, you know, there's a lot of barns sitting empty because a lot of these integrators, they don't keep long contracts. And I don't know if there's just too many barns up there for the demand. Too much supply for the demand up there. So maybe that brings prices down.
Starting point is 00:47:21 Last thing I'll say, and I'll let you touch on it, Dad, is we found integrators don't like big sites, especially, like we have a big site, 4,800 head site, almost a 5,000 head site, and you're thinking about building two of those. We have found, with our big site, it's hard, it's harder on health, it's harder on everything. It's harder on everything. Loading it takes longer. Loading the barn up with pigs, loading pigs out takes longer. and in the winter time when you're getting wiener pigs in at a double site,
Starting point is 00:47:55 you got to burn, you got to burn more LP. You know, there's all these things that big sites kind of, we don't love big sites. If dad will, that'll be the first to tell you that if he could go back, he would separate his one big site that he has right now because he doesn't,
Starting point is 00:48:11 he doesn't love it. And integrators are on the same boat because of the health reasons. They don't like it because if one, one barn gets sick there, more than likely the next one's going to get sick. And it's hard to control that. So I don't know if I would want to build a 5,000 head site or buy one because integrators might not give you a contract because you have a big site
Starting point is 00:48:36 and they're trying to stay away from big sites. So that's the last thing I'll say. Yeah. So I'll touch on a couple things you said. First of all, on the seller financing thing, I don't feel like that gets used as much in ag, is what it should because if you can find somebody that has a site, there's one thing that it goes back to, don't be afraid to ask. You don't know if you don't ask. And, you know, it's hard to muscle up the
Starting point is 00:49:02 courage to talk to an established farmer that you might not have a relationship with. But, you know, you don't know what guy's situation is. They might be looking at getting out of it. And if there's one group of people that hates paying taxes, it's farmers. And when you think about, okay, somebody's got a 2,400 or got 3,2400s or whatever, they probably aren't going to want to sell that in one lump sum because they're going to have to pay a bunch of tax on it, where if you could structure something where they seller financed it, I bet you, one, nobody's probably offered that to them, and two, they might be interested in it because you could structure it to lower their tax liability. So that's something to think about.
Starting point is 00:49:49 Two, yeah, the whole big site thing, if I was to do it over again, I would just build, I would have done two separate $2,400s just because, now it depends on the integrator, because if you're set up that you can fill that site quickly, it's not as big a deal. And $5,000 is, that's kind of, there was a time where that was really the standard of the industry, like people were throwing up fives all the time. And then you had some of these guys that were building $10,000 head sites or $7,500 head sites. or 7,500 head sites. And we really saw integrators back off on them because the health problems.
Starting point is 00:50:26 But it's a case-by-case deal. You know, the integrator that you might work with, they might be fine with it. But you just need to know that if it's fine for them, if anything ever changes and you have to go market that site or you have to go look for an integrator, anything over five, you're going to struggle to find somebody that wants it because it takes longer to fill, takes longer to dump, health generally isn't as good. So anyway, I agree with you on that. I was just going to say also, if you do plan on buying sites or building sites,
Starting point is 00:51:06 being closer to your integrator also helps your case as far as keeping that contract because they are marked, you know, they're, they're, they're, they're marking up everything. Mileage. If you're closer to the feed mill, that makes your site more valuable because they don't have to go as far. Same with the trucking of the pigs. If you're closer to the sow units or you're closer to the processing plants or closer to the trucking company that hauls pigs for them, that's, that's, that's, that looks good in their eyes. So, uh, keep that in mind as well. Yeah. And along with that, uh, all, everything. If you build a site, make sure you got a damn good driveway that's easier to turn around in,
Starting point is 00:51:48 that the truckers aren't always bitching about having it get in, because I'll tell you what, all that stuff. All that stuff matters because nobody talks more than a feed truck driver and a hog truck driver. And if you got a site that's easy to get in, easy to fill the bins, easy to load pigs, easy to get out of on a hard surface road or a road that's easy to get to, those are all pluses, so those are all good decisions to make. My last thing I'll say, so put on your thinking cap, I thought about this because he said, okay, he's got about a year and a half.
Starting point is 00:52:24 Okay, everything is high as hell, interest is high, and it's going higher. My prediction is that when the Fed meets again, they're still going to, even though PPI came out yesterday and it actually was lower than what everybody thought producer price index. And consumer price index was actually, I think, right where they thought it or a little less. So I think inflation is definitely slowing and probably going down. But I think the Fed is going to raise interest rates at least one more time, possibly twice. But okay. So you get a year and a half from now if interest rates peak and they're heading down and obviously nobody's building, very few people are building hog buildings. Prices are very high, equipment's high,
Starting point is 00:53:26 labor's high, but if we're in a recession, which I believe we're in a recession, do you think a year and a half when he's making that decision, do you think we may be in a point where building prices are heading down, interest rates are heading down. And I will say this, when I built my first barn, I want to say that it was at 5 and a quarter percent. And we're in the farm credit system, so kudos to the farm credit system. They were very proactive. And every time that it made sense to refinance those barns, we refinanced them. and we lowered our interest rates from five and a quarter.
Starting point is 00:54:14 My first one might have even been 575. I can't remember. But all the way down to like 3.25 or something like that was the last time I redid it. And we actually could have refinanced them for less, but the balances were getting low enough that it just didn't make sense. So this is the other side I'll say is have a relationship with a banker that's going to work with you because it's,
Starting point is 00:54:40 If you get out of college and you're at a point where building prices are starting to subside and interest rates are starting to come down, and you can get that site built, even though that interest is high or higher than what it has been traditionally. But if it looks like we're headed back to a time where we're going to cut interest, and I don't think that we'll ever get interest rates back down as low as what it was, I think they'll stay more flat. But if you got somebody that's going to work with you, and if those rates aside and you can refinance,
Starting point is 00:55:18 then maybe it looks different. Yeah, you always know, I'm always a big believer in, when everybody's selling, that's when you should be buying. And when everyone's buying, that's when you should be selling. And there's blood in the street, that's when you should be taken up opportunity. So, yeah, that's the thing. We don't know what's going to happen in a year and a half.
Starting point is 00:55:36 things could be really in the shitter, which could be to your benefit. Because like all you said, interest, building, prices, all that shit could tank. So that could be to your benefit. Totally. And that might be the opportunity to, to, maybe it makes sense to build a barn. You know, maybe, but then it does make sense. I still don't know if I'd build a 5,000 head site, though. Yeah, I don't either. I would probably, I would be honest, I would do 224s.
Starting point is 00:56:06 if it was me, I would do 224s, 24s, or even 424s, if you could do it. But just maybe not try to connect them, man. Because overall, yeah, you said some integrators, maximum 5,000, but why even put yourself in that? The most marketable barn out there is a single 2,400. Any integrator anywhere in the country will take that bar. Yeah. A 12 is actually a little too small, depending on the integrator, because when it comes to marketing, it's a little more difficult.
Starting point is 00:56:40 But a $2,400 head barn is the most marketable barn out there in the contract feeding business. And the other thing I'll say is make it real easy. Just find an integrator that will give you $3 more at Pigspace and what everybody else is getting paid. Then the cash flow works, but you probably ain't going to find one that to do that. Yep. Yep. So it could all change from here from now until then, but that's our two cents, man. And keep grinding at college, get that degree. Hope you're learning a lot in agribusiness. That seems like a good major.
Starting point is 00:57:15 You know, I would have probably done ag studies because I would have been trying to drink too much beer, but good for you. Yeah, that's all we got to say on that one. Sorry to interrupt, but if you think this is good, you should check out our YouTube channel. This will do farm.
Starting point is 00:57:32 Like and subscribe. All right, let's get back to it. So this is a, this is not a question, but it's a comment from Spotify. And so this is kind of something else that we're playing with changing things up on Q&A. Because you guys are leaving comments now. So we're going to address those. We're going to highlight some of them. So Jason commented, I know you guys have a hard on for Elon,
Starting point is 00:57:57 and I love what he's done for Twitter and free speech. But that doesn't make up for a support of human rights violations in China. Electric cars, not so green. Yep. I'll let you, I'll let you go in on that one. Yeah, fucking chomping at the bit over here.
Starting point is 00:58:13 Okay. Tickling Elon's balls right there. So, yeah, I'm sure to a lot of people, I probably sound like an Elon fanboy. And I, I think that Elon,
Starting point is 00:58:27 I think by the time he passes away, he will be one of the greatest minds that, um, that, that we've had in this generation. I do believe that. That said, to your point about human rights violations, I thought a lot about that, and I have no doubt that, you know, through all of the suppliers that Tesla is getting batteries from, And this is a big issue because I've seen a lot of people talk about the lithium, the cobalt,
Starting point is 00:59:09 where that's dug out of the ground and how it's dug out of the ground. And it's not good. And the standards, the working standards in the areas of the world where this is done is piss poor. So there's two ways you can attack that. The easy, snarky answer is this, that whether it's Tesla or whether it's Ford Motor Company or whether it's BYD or whether it's Volkswagen or whether it's, pick whoever you want, whoever you want. That market's there and that cobalt and that lithium is going to get dug out of the ground.
Starting point is 00:59:56 And they don't give a shit who they sell it to. Now, should Tesla have put their foot down and said, nope, we're not going to, We're not going to buy it from there. I don't know. And I don't feel like your question is necessarily directed about that because so much of the raw materials aren't actually dug out of the ground in China. They're processed in China. So the factories that Tesla have in China,
Starting point is 01:00:30 the wages that they pay are a premium wage. So that's all skilled labor. So they're by China standards, they're higher paying jobs than, you know, working at the steel mill or the coal mine or wherever. And I do believe that as a company, they have really tried to push back on the people that they're getting supplies from that they want want everything done in a sustainable way.
Starting point is 01:01:07 And that's why they're getting in to actually processing lithium, um, mining and such. If you go down the road and, and let's face it, let's not, let's not candycoat this and say that this is Tesla because every automotive company in the world does business in China. I'd say almost every major business does business. And business in China.
Starting point is 01:01:33 Apple sold their soul to the Chinese and now then you're going to find out they're finding out every day how screwed they are in trying to get out of China because they invested I'm not going to go down that road
Starting point is 01:01:48 but a lot, you know, all your tech companies, pretty much everybody fell over themselves to get in bed with the Chinese because they wanted in that market. They wanted a cheap labor. Yeah. And so you talk about that cheap labor.
Starting point is 01:02:00 Well, today Mexico has cheaper later than China, and the labor that the Mexicans have is better skilled labor than the Chinese have. And my viewpoint of China is that in 10 years it's not even going to be relevant. So I will agree with you that I feel like Tesla has put too much emphasis on the reason they built a factory there is because it was a huge market and very low regulation. compared to, you've heard Elon talk about why they built the factory they built in Texas versus California because they had the concrete poured before they could have ever even gotten a permit in California. Well, China, you take it one step further.
Starting point is 01:02:50 They had the whole factory built before you even could have got a permit in Texas because the government knew they were going to employ all these people, provide all these jobs, buy all this stuff, so they made it. happen right or wrong that's what they did but i don't feel i feel like that was almost short uh short-sighted and i believe that all all these auto companies are short-sighted because i believe that china i believe the demographics so if you you don't have to listen to this show very long that i put a lot of stock in what peter zion talks about um and if you haven't if you don't know who he is watch the jo rogan podcast because he was on there and he lays out a really great
Starting point is 01:03:32 a really great argument as to why China will be irrelevant in 10 years. So demographics are going to absolutely decimate that company. And in a decade... Country. Yeah, that country. And in a decade, they won't be relevant. So I feel like we won't be talking about the Chinese like we are today. And if you think the human rights abuses that...
Starting point is 01:04:02 uh maybe you can tie that to Tesla it's nothing compared to what that government's going to do and when that happens i don't think Tesla will probably be there i don't think any company will be there every it that's i don't know i just feel like every major a lot of major businesses are in china and they don't give a fuck about the human rights violations that they that that country's imposing on their people and they're just happy they're getting their products made and obviously americans we say we give a shit but do we give a shit because we still get on our iPhones and we text, you know, you sent in this question probably from an iPhone, I wouldn't assume, but like, are our actions, do our actions actually back up?
Starting point is 01:04:41 Do we actually give a fuck about human rights violations? I think everybody would say, yeah, that's a terrible thing. That's fucked up what they do to people. That's fucked up what China does to their people. I despise China for what they do to their people, the government and everything. But our actions, we're all guilty of it. We all buy products from China that we know. We know. are made in China. And they're from all different kinds of the businesses, all different kinds. Every single business and probably not every single business, but pretty much in every major business category, good amount of them make their products in China.
Starting point is 01:05:17 And so that's something that I don't like, but it's kind of the reality of the situation. It's just the reality. It sucks. But I think what you're saying, I don't think that will be the case in 10 years. think that a lot of that cheap labor that we're getting from China now, where it's going to transition to maybe Mexico, because they're now our biggest trading partner, and they have the best demographics in the world when it comes to young people replacing the boomers, and they're skilled. So you might see a lot more infrastructure and a lot more investment being made in Mexico
Starting point is 01:05:55 versus China, because China might fall, which I think that they probably will, based on what you said, but who knows Mexico could do the same shit. The drug cartels take over and rule the government. Who says that they're not going to have child human rights violations in Mexico? I mean, we- The amount of evil that humans can do to each other is kind of staggering, really. And I guess one other thing I was thinking about this is, so we talk about this.
Starting point is 01:06:29 What kind of human rights violations do you think went into the building? out of the petroleum industry from its beginning. When you think about the Russians building out their oil platform in Siberia and the people that died to make that happen and the way they treat an entire group of people, when American oil companies went to the Middle East, I mean, it's everywhere. It's been a part of it. This story just gets told over. It just recycles. And technology makes it much more, we see it now, but this isn't anything new.
Starting point is 01:07:14 And it's definitely not, when you say Tesla, don't paint, you got to paint it with a pretty wide brush, because if it wasn't Tesla, and it isn't just Tesla, it's every other automaker that's put in a battery in a car, because all of that, all those raw materials come from a few places. um yeah i might have a hard on for elon but you can't paint it that this is teslas this is tesla's deal it's not and it and if tesla went broke tomorrow which ain't going to happen it would all continue
Starting point is 01:07:46 and it would all be somebody else that was buying that cobalt buying that lithium employing those people um does that make it right nope yeah i don't i just want to give them i just want to get the that point across we obviously don't agree with it i don't think i think most americans can agree that that's fucked up. But that's our culture. That's not their culture. Right. That's not other countries' culture. That's not how their government's set up. And yeah, it sucks. We don't like seeing human suffering. If we really want to make a change in that, we need to buy American-made shit and speak with our buying, how we buy things and where we buy things versus just talking about it. If we really want to do something about it,
Starting point is 01:08:33 we need to buy American-made shit or buy from countries. Yeah, we got to pay, which if we do that, just know, you're going to pay a premium for an American-made product because it's not going to be as cheap because they're going to actually pay their employees and not have human right violations to their labor that created that product. So that's the two, I don't know.
Starting point is 01:08:59 It's the two worlds. It's the two worlds. Like, you can't have it both ways. we can't bitch about human rights violations and then buy our iPhone cheaper. Like if they made an American iPhone versus a Chinese iPhone, how many people would choose the Chinese iPhone that was cheaper to buy versus the American-made iPhone that's more expensive? Fuckload of people are going to buy the cheaper thing.
Starting point is 01:09:22 And they can say that they care about human violations all they want, but their actions aren't speaking like they do. not saying everybody wouldn't buy the American-made iPhone. I'm sure there's a lot of Patriots that would. I would probably buy the American iPhone. But that's where people cannot separate. They can't separate. You can't have it both ways, unfortunately.
Starting point is 01:09:50 And it fucking sucks, but. Yeah, I'm going to jump on this one last thing. The end of your comment was that electric car is not so green. and we had this conversation just the other day we were talking about it so the one thing i'll tell you about the the battery story that doesn't get told because a lot of people want to talk about how how carbon intensive it is to make a battery and how it's not it's really no better for the environment than oil and some people will make the argument that it's actually dirtier and you can make that argument it is it is dirty it's capital intensive it's labor and
Starting point is 01:10:28 intensive, it's carbon intensive to get all those ingredients that go into a battery. Here's what changes that. The beautiful thing about a car battery for an electric vehicle that most people don't know is once you've built that battery and it gets to the end of its life as far as the percentage of state or the percentage of charge that it can get. So it starts to degrade over time and you know instead of getting 95% it only holds an 80% charge or 70% charge and it finally gets the point that it's not worth trying to recharge it because you don't get any you don't get any charge out of it okay here's what doesn't get talked about is you can take that battery you can recycle it you can break all those ingredients out of it to their raw form you get about 97% 97 98%
Starting point is 01:11:28 of those raw materials out of that battery, you can build a brand new battery out of those raw materials, and it is brand new. You can't do that with coal, and you can't do that with oil. You can do that with a lithium ion battery, or if you're using iron, or there's multiple variations of how they're doing it. That doesn't get talked about.
Starting point is 01:11:52 So in other words, you will reach the point with battery technology where you literally dig those ingredients out of the earth one time, and then you recycle it. You get multiple uses out of it. And every time it's not a deal where you recycle it, and it's only 80% as good as it was the first time. The battery that's made from 100% recycled materials is equal to the battery that's made with virgin material.
Starting point is 01:12:22 Can't do that with oil, can't do that with coal, can't do that with natural gas. That's why it's the future. and you know you can debate all the stuff it doesn't really matter that's where the world's going and that's why it's going there is because it is truly renewable and recyclable so i but i appreciate your question and i and you've commented on to jason he's commented on our stuff a lot and um i hope that i hope that's i hope that's answers your question i mean i'm not i don't have all the answers but that's just my gut reaction to what you said.
Starting point is 01:13:00 So I appreciate the comment. Yeah, I appreciate the comment. And, you know, you gave us something that, you know, might be against, not against, but you questioned a guy that we really admire and we like. And I don't disagree. I don't disagree with them either. And that's good because it sparked a really good conversation on the podcast. So these are the kind of comments that we like to see because, you know,
Starting point is 01:13:23 you don't always have to agree with everything that we talk about, guys. we don't want you to. You know, coming back and saying some stuff, that's all right, as long as you're not a complete another asshole about it. So, yeah, that's all I got to say. Yeah, appreciate the comment, Jason. New segment, new segment, another new segment of the Q&A that we're doing. Gold Nugget of the Day.
Starting point is 01:13:44 Shout out to you, Brandon. He commented this. I don't know what he commented on. It might have been on you. It was on one of the podcasts. It was on a Spotify podcast because we saw it. He replied to one of our podcasts on there. Um, he said, I believe it was 2020 or 2021. Oh, shit. My bad.
Starting point is 01:14:03 You say, wait, was that you that said that? No, that's what he said. I believe it was 2020 or 2021 personal data pass oil as the most valuable commodity in the world. I thought that was just very smart. Yeah. Like, we've kind of talked about that, but I thought the way he put it, I was like, damn, that, that is a gold nugget. Because it's true. It's a hundred percent true. we're in the age today where your personal data that is gathered from you. I think we talked about that is sold. What is it? Seven or eight times a day?
Starting point is 01:14:38 Yeah, a lot. Something like that. You're browsing history and, I mean, personal data drives our economy. And, yeah, that really puts it in perspective. It's an attention-based society now. It is 100%. What you do on these platforms, how you react, how you react, how you, your buying habits, all the data you're putting out, if a company can holster that data and use it
Starting point is 01:15:02 to market to you and reach you, that's very powerful. Yeah, it's exactly, I've seen so many things talk about this. Oil was the opportunity of the past, how many decades. Yeah. That was a long, long time. Long time. Oil and gas. If you got in on that and you were successful, you made a shitload of money. Now we're figuring out it's all about attention. Look at Facebook. Meta now. And that's why you take what he said there, your personal data is more valuable than oil. So control your personal data. And I don't care what you do, your personal brand in the future, your personal brand is going to be very valuable. Yeah, it is. Yeah, because you're seeing that from not just the companies that own all of our personal data or have a lot of it, but you're
Starting point is 01:15:52 also just seeing it from creators on these platforms that have people's attention. That is very valuable. It's very valuable to other brands. It's very valuable to the creator. It's very valuable to the platform that hosts the creators. So, uh, yeah, great comment, Brandon. I 100% agree with you on that one. That is where we're at. And last thing of this episode, guys, it wouldn't be, it wouldn't be a proper Q&A without a little bit of whiskey and so dad you go ahead and take it away
Starting point is 01:16:25 heck I almost forgot bring your table in front of you so that they can see the poor and you can talk while you're doing it oh geez I'll talk I'll narrate how's going so dad's bringing his table that he got for Christmas shout out to mom for buying this cool table for dad
Starting point is 01:16:41 it's a little tiny you'll have to reach over perfect size but I figure you know people want to see you talk just do one glass at a time. You're getting over-ambitious now. So this is kind of a special bottle because... Don't hit your knee on that table.
Starting point is 01:16:56 No, I won't. So a friend of the show messaged me on, I think, Messenger, and said, hey, if you're ever in Bell Plain, Iowa, stop it. I got to say it right. I think it's called Greeters, Greeters, Beverage Mart in Belplane, Iowa. and he shot me a picture. They had a private barrel of Elijah Craig single barrel whiskey. So it's single barrel private barrel. So they picked this barrel, and they had them there.
Starting point is 01:17:29 And so last Saturday, my wife and I just decided we were going to take the day, and we took the Jeep, and we went for a little ride, and we went up through the amanas, and ate her away through the amanas. I enjoyed that and shook off a nap. No nap for me, but we went up to Bell Plain, and I picked up a couple bottles of this. And so this is our, this is our bourbon for the day. Pour me up, bartender.
Starting point is 01:17:59 I'm going to have high hopes for this because I like Elijah Craig. I will just tell you no matter what, I'll bet you you will like this better than you did Bullet. Yeah, bullet hit me like a bullet. That's for sure. Somebody did comment and said, I literally know if I need to buy this whiskey based on Sawyer's facial reaction. So that just tells you, yeah, if I can't hide, I can't hide my piss poor face after I take a shot, I just can't hide it very well. Yeah, so one thing. Especially if it's terrible. One thing to kind of know, I mean, there's a lot, there's just all kinds of stuff with whiskey that's, you know, unique.
Starting point is 01:18:43 bourbons when they make them they got how many barrels and they dump all those barrels and they blend them um but this is literally single barrel so um i don't know who from the beverage mart went there but they literally went to the distillery and they picked out a barrel they probably sampled it and then they bottled all the whiskey out of that single barrel bottled it so you're getting on the one hand if it's a good barrel you know i mean that's kind of the risk you're crossed and And that's kind of the art of making whiskey is not only, you know, getting it distilled, but then picking which barrels get blended or deciding, hey, this barrel's so good that we're going to do a single barrel. And so, you know, it's pretty cool.
Starting point is 01:19:29 So anyway. What's the toast to? Cheers to prosperity in 2023. And with any luck, we'll all be back here next spring. That's kind of a long one. I don't know. Next spring. Yeah, next spring.
Starting point is 01:19:43 It's almost spring. Yeah. It's January. You're not going anywhere yet. Cheers to prosperity. Okay. Cheers to prosperity. Cool.
Starting point is 01:20:00 Okay. I might have made myself a little too big of poor there. Yeah. You did for me too. That's pretty good. I really like it. I got a little too much. So it's real sweet on the front end.
Starting point is 01:20:18 And it's got a little bit of burn on the back end. But then after that burn, it's real smooth. I'd say, so I've had, I've had single barrel Elijah Craig before, but not that, obviously not that barrel pick, and it was a different year.
Starting point is 01:20:37 That's a lot sweeter than what I had before, but the burn on the backside is a little more. I'm still feeling the burn. I'm still feeling the burn. Oh. all the way down to my stomach.
Starting point is 01:20:53 We got to learn. We got to learn. I need to learn to pour a little lighter. Yeah. I mean, gosh. I don't, maybe these, maybe these bourbon and whiskeys are as bad as they are.
Starting point is 01:21:05 I think there might be, you're making them bad because we're putting too much in there. I don't know. Big shot. I really, I, when you poured that in there, I look at it and I go,
Starting point is 01:21:16 oh, that doesn't seem that much. And then when you're pouring it, when you're drinking it, when you are drinking it. Oh, man. When you're drinking it, you're like, wow, this is taking way longer than just a simple. So.
Starting point is 01:21:27 All right. That wasn't too bad. Is that a whiskey that you would mix with Coke? Would you put water in it? Would you drink it with an ice cube straight? Would you put it in old fashion? Or would you just drink it straight with nothing? All the above, because it's not too expensive.
Starting point is 01:21:44 It's a good price point to where you could mix it if you wanted to. But definitely old fashioned on ice. with a little bit of water or straight. All right. There you have it, folks. All right. Bring us home, Sawyer. Yeah, so thank you guys so much for tuning in.
Starting point is 01:22:03 Thank you for the amazing questions to all you guys that have, you know, submitted them. Continue to submit your questions at Barn Talk Show at gmail.com. Pay the fee if you guys got any value from the show. I hope the ones that asked questions got your, got the answers that maybe you were looking for. and hope they brought some value to you and it can maybe help you or, you know, clear some things up. So, yeah, guys, pay the fee, leave a review, submit your questions, and we'll see you back here for another episode.

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