Digital Social Hour - The Ugly Truth About Why Most People Fail in Business | Derek Moneyberg DSH #596

Episode Date: August 2, 2024

🚨 The Ugly Truth About Why Most People Fail in Business! 🚨   Join Sean Kelly on the Digital Social Hour as he dives deep with the legendary Derek Moneyberg, fresh off the gym and ready to drop some serious knowledge bombs! 🏋️‍♂️💎 Discover the harsh realities behind why most people don't make it in business and what you can do to avoid their fate.   In this eye-opening episode, Derek pulls no punches as he talks about the pitfalls of short-term thinking, the importance of negotiation skills, and why today's social media culture is setting you up for failure. From his candid thoughts on inflation being "a tax on stupid people" to why balance is for the poor, this episode is packed with valuable insights you can't afford to miss! 💰💡   🔥 Tune in now to learn: - Why 50% of people are naturally below average and how to rise above - The secrets to long-term financial success and wealth-building - The critical role of negotiation in your career and business - How to navigate inflation and protect your wealth - Derek's personal journey from a high school dropout to a multi-millionaire   Don't miss out on this brutally honest and unfiltered conversation. Watch now and subscribe for more insider secrets. 📺 Hit that subscribe button and stay tuned for more eye-opening stories on the Digital Social Hour with Sean Kelly! 🚀   Join the conversation and get ahead in your entrepreneurial journey today! 💬💼   #EntrepreneurshipTips #ImmediateResultsInBusiness #StockMarketSuccess #FinancialPlanning #BusinessMindset   CHAPTERS: 00:00 - Intro 00:40 - Derek's Current Life 01:40 - Negotiation Strategies 06:50 - Derek's Money Management 07:52 - Stock Market Success 09:47 - Reasons to Avoid Parenthood 13:39 - Value of a College Education 18:18 - Taxation Perspectives 19:01 - Financial Success Mindset 21:11 - Jason's Path to Financial Freedom 23:18 - Jason's Privacy in Business 24:30 - Historical Value of $100 26:40 - Jason's Costco Spending 27:18 - Travel Experiences 29:00 - Attraction to Combat Sports 31:48 - Promising Fighters to Watch 33:33 - Recommended Resources   APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [e-mail]   GUEST: Derek Moneyberg https://www.instagram.com/derekmoneyberg https://www.moneyberg.com/link-in-bio   SPONSORS: Deposyt Payment Processing: https://www.deposyt.com/seankelly   LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/ Learn more about your ad choices. Visit podcastchoices.com/adchoices

50% of people are below average in anything by definition. And I don't know that some of the social media platforms or the entertainment of our day doesn't reward long-term thinking. Definitely not. People are trained to have a lower and lower attention span and be focused on immediate results. If they can't be a millionaire this weekend, then they don't want to try. Right. immediate results or if they can't be a millionaire this weekend then they don't want to try right wherever you guys are watching this show i would truly appreciate it if you follow or subscribe it helps a lot with the algorithm it helps us get bigger and better guests and it helps us grow the team truly means a lot thank you guys for supporting and here's the episode

all right guys we got derek moneyberg here today fresh off the gym coming up with the bling thanks for coming, man. How you doing? Good. What you been working on lately? You've been kind of in the shadows a bit, right? Shadows? I don't know. I've been working on my business, working on finance and perpetually for my whole life. And, you know, kind of hobbies. I do a lot of MMA training, lift some weights and it's kind of, my friends, they ask me,

Oh, what's new? What's nothing. I just do the same things repetitively. Same old, same old. I like it that way. And you're speaking after this somewhere,

right? Yeah. I have a negotiation conference in town this weekend. So four days about negotiation and, you know, optimizing, you know, whether you're an employee and,

you know, you need to, I think, I'm curious your opinion on it, but I think like any employee, if you had a job, but if you're a good negotiator, you could at least, if you're thinking entrepreneurially and negotiating well,

you could double, triple your salary over time easy enough. And if you want to be an entrepreneur, then you have to be a decent negotiator. It's a rare skill these days to have negotiation skills. I had Chris Voss on the show, and he was an expert negotiator. And he doesn't bring emotions into his negotiations, which I thought was interesting. Do you take that approach as well? You have to have enough emotion to say empathy or to understand what is the other person's situation.

I think a lot of people really mistake negotiation where they're like, negotiation means to beat the hell out of your opponent and take everything you can and screw them in some way. And I think the most valuable negotiations are not these, you know, one-off transactional adversarial circumstances, but, you know, long-term mutually beneficial relationships. So if you could bring a lot of value to somebody's life over time and don't waste your time with people that don't reciprocate, but you can have, you know, valuable reciprocal relationships.

Like, why do you want to be, you know, overly aggressive with those people? Like, I want the other person to win, because over time we're both going to win, you know? Yeah, I like that approach, the win-win mentality, right? Rather than just trying to take everything you can from someone. It's very short-sighted, but most people are. Yeah, it is interesting why most people are.

Why do you think they are like that? 50% of people are below average in anything by definition. And I don't know that some of the social media platforms or the entertainment of our day doesn't reward long-term thinking. Definitely not. People are trained to have a lower and lower attention span and be focused on immediate results. If they can't be a millionaire this weekend, then they don't want to try. Actually, I was talking about this at my conference last night

that a guy named Greg Jackson was on stage with me. Greg Jackson is an MMA coach. He's one of the best coaches in the world. He's a coach for Jon Jones, George St. Pierre, Holly Holmholm and 20 other champions and um yeah we were we were talking about the same thing that you know it takes years to get great results at something like if you want to be really good at something and have like a differentiated skill set that you can capitalize on long term like it takes years and years to do

that yeah and uh you know a person that wants to make he made said, well, if you want to make a million dollars overnight, you know, you're not going to do that. I'm like, actually, I did. And I showed him the stock market. Yesterday I was up 260-something thousand, and the day before I was up 760,000. Wow. Like, well, I did make a million dollars overnight just now,

but it took me 30 years of prep to do that. Right. And if you don't want to do the prep and you don't want to do the little boring, nerdy things, then how would you do that? Yeah, it is a childish way of thinking about it. Also a million dollars isn't what it used to be too. I say that all the time.

You can't live off that these days. You can buy a great parking spot in Hong Kong. That's about it. Yeah, it's really nothing. I just did this calculator where it shows you how much money you need to make in order to retire. And they're saying the average person needs $30 million now with inflation factored into it.

Inflation's going to be a lot higher in our lifetime than it has been historically. The second half of my life, I expect inflation to be much higher than the first half. Wow, that's scary. Inflation's so bad. Inflation is a tax on stupid people. Inflation is an additional tax. Inflation only comes from one place. There's only one group of people that can print money, and that's the government.

So when the government says inflation came from anywhere else, it's beyond nonsensical. Like the only people – you have a monopoly on the currency. So if there's inflation, it came from the government printing extra currency or Federal Reserve Bank expanding their balance sheet, et cetera. They call it quantitative easing. And, you know, this never happened before 1913. And, you know, in the past 110 years, the currency has been devalued 98 percent. So if you were a millionaire at that time, so people use the term millionaire like it means something. And, you know, a millionaire 100 years, 110 years ago, that was significant wealth. And today you'd have to have $50 million to have the equivalent spending power that a millionaire did a bit over 100 years ago.

Wow. That is crazy. And that's not like a guesstimate. Like that's the math. That's the math with inflation, 98%. So why before 1913 was there no inflation, you think? Well, you still had a gold standard. This is even before the Brenton Woods Act.

But that's when the Federal Reserve Bank was formed where you could start playing games with the currencies and creating inflation. Dang, so it's all manipulated. I wonder if this happens in every country. It happens in every failing country. Well, over the history of time every currency has failed other than gold right so that's pretty concerning i agree so that means a dollar one

day might fail will you think so i think you just said it pretty clearly that historically that um that's been the pattern 100 of the time i wouldn't expect it to be any different right why are we why are we engaging in behaviors that are more responsible than other countries did? Why would it be different here? Just all sorts of absurdities that we do with the currency here. Yeah, you saw the new plan Biden announced. He has a plan? I wasn't aware of that.

$1.5 trillion loan or something? I don't know this one. They spend a trillion every 100 days now. I don't know this one. They spend a trillion every 100 days now. I don't know what this trillion's for. That's crazy, man. So that being said, how much of your wealth do you store in just physical fiat currency? Very little. A few hundred thousand.

I like to have a few hundred thousand in cash laying around. But I think if you have more than that, it doesn't make sense. I'd rather have assets. I like infrastructure assets. So real estate, stocks, companies? Mostly stocks. I managed real estate. I had my own properties for a long time. I still own several

properties, but as far as rental properties, it's good business if you're starting off, if you need to make your first million or first few million. That's cool. Long term, it's really quite an annoying grind to manage rental properties. I've cool. Long term, it's really quite an annoying grind to manage rental properties. I've heard.

And people idealize that like, oh, it's just free cash flow. You can just rent the house and the rent just comes and they don't understand all the human things that go with that and governmental things as well of you can't do this, you can't do that or different code things. Some of them make good sense

and some of them are nonsensical. So yeah, that's a great way to get started with some money. But if you have a decent chunk of money, I think the stock market's amazing. I love the stock market. And how is someone like you able to crush the stock market? Because 80% of the stocks are owned by five companies, right? Five hedge funds. You're not going to have an advantage overnight in algorithms.

I'm not going to write better code than those funds can hire the best PhDs and the best computer scientists in the world to create whatever algorithm they want to. So as far as when I hear somebody say they're going to be a day trader, I just think, oh, you want to be bankrupt. I understand. But usually those people are very committed to their bankruptcy. So, okay. I just think longer term. It's kind of what we said a few minutes ago. I was like, well, what's out of favor right now that's likely to be considerably valuable in the future?

And you see things that are, you know, in 2020 you could buy, there's a lot of energy companies that were, you know were 10%, 7% of what they're currently trading for, 25%. Things that had wonderful balance sheets that are 25% of what they're currently trading for. Do you think energy is going to be popular in the future? Do you think people will like electricity? Probably. I think it'll remain popular i like to buy very boring things that uh you know two or three or four or five years are probably going to be worth a lot more money got

it did you catch the nvidia wave i don't care about whatever the next trendy thing is really nvidia popped off man ai it's up 20x yeah did you see ai coming at all i'm not a tech nerd now okay so you just stick to what you know. Yeah. Which is great advice. That's it. Worked out pretty good for Warren Buffett. Yeah. Going okay for me so far. Yeah. Because you're at the point now where you don't need to chase crazy risk return ratios.

I think what I'm doing is less risky than it's a lot less risky than holding cash. If you hold cash, for sure you're losing money with the inflation that we talked about. And if you buy an index, then you're guaranteed an average return if you buy an S&P ETF or something like that. And I bought Class A malls. I buy high-quality real estate through the stock market through REITs, real estate investment trusts. I buy boring things like Macy's or Kohl's or Nordstrom when they were beat up.

And I made a lot of money doing little things like that or energy stocks. Nice. Nice. Yeah. I think people overcomplicate, uh, making money and they do a lot of analysis and read the news and all this stuff, but you're keeping it simple, which I like. I spent nine years in universities. I went to university, Chicago's Booth School of Business was the number one ranked graduate

school for business in our country. So I can do all the nerd analysis, but you can't do math better than the computer can. I can do math very well, extremely well, but my classmates can too. And the computers can too. So I just don't think you have an advantage there. It's important to understand to be able to read financial statements. If you can't read the financial statements, you don't know what's happening. But then you also have to think about human behavior. Like, well, how are the crazy humans likely to behave over time?

And where is the mispricing between asset fundamentals and human behavior? You could buy Macy's a few years ago, in 2020. You could buy Macy's for $4.50, and it was trading for 23% of their book value of what the assets were worth. In any way I did the math, if you pay $0.23 on the dollar, most of their portfolio is real estate. So if you said the brand name was worth nothing, if you looked at their credit card company, if you looked at their – they have a beauty line called Blue Mercury. And if you looked at their primary asset, it was their real estate. If you looked at those assets and you thought the brand name was worth nothing, which is silly because it's the number 10 retail website in the country at that time, you buy it for 23 cents on the dollar. And, you know, it's gone up considerably since then.

It's up over 400% since then. Wow. Interesting pick because a lot of people thought retail was going away. I don't believe that. You don't believe shopping malls will go away? Do you think that shopping is going to fall out if women won't go shopping in the future? Definitely not. I think women are going shopping.

I think women are going to spend all of their disposable money in retail, various kinds, shopping and entertainment. And historically, they tend to get some subsidies from men and spend some of that money too. They get a lot from men, yeah. Yeah, you think? You got kids? No, that's not for me.

No? Interesting. I like business more than kids. Wow. So you chose business over family? Yeah, I guess. Wow. So what do you over family? Yeah, I guess. Wow. So what do you think of that balance, though? A lot of people recommend just balancing that instead of going all in on one or the other. Yeah. If you want to be poor, I think balance is a great idea. Interesting.

But a lot of top, let me kick back at this, because a lot of top entrepreneurs do have a woman. I have a long-term girlfriend. Okay. You just didn't want kids. Yeah. Okay. Fair. Interesting.

I don't know. I think I want kids, man. I didn't tell anybody else to not have kids. I just said it's not for me. Yeah. Was that from like early age you always wanted that decision or it kind of changed? I never had that calling. I just never felt, yeah, it's not for me. I like to travel. I like to have my freedom to do the things I want

to do. Um, I don't want to, it sounds like hell to me to have a kid just walk in and get to wake up and take care of it. So, uh, a lot of people like that and that's great and I hope they're happy with it. And, um, it's just not for me. for me i feel that now growing up i know you had a pretty pretty poor upbringing right uh yeah i didn't have the best mother she was not very attentive maybe that's my decision to not have kids mom wasn't very attentive there'll be some trauma there man we got to dive into this i'll play around with it um you know dad wasn't there much and then, he went to prison for a lot of my childhood for drug trafficking. Wow. So, um, yeah, I didn't have a, you know, I kind of was in charge of the house or took care of myself since I was 10 or so. And, um, yeah, I was, I got, became a good

problem solver because of that. That helped with a lot of things that made my, it really sucked at the time, but a lot of things, uh, that helped make my life good later. That's not at all a bad experience. But there's plenty of people. Everybody's got a sad story about something. So I don't think it's mine so special or unique. But yeah, I think there's plenty of things at the time that were unpleasant. That later on, some of the problem solving things that I developed or awareness about human behavior, things like that, helped me an awful lot in business later.

So you had to grow up very quick. Interesting. Yeah, that definitely played a role in your mindset. Of course. So did you want to go to college because you said you went for nine years? Yeah, I went to – well, I was a high school dropout, and then I went to community college, and then I got a scholarship, a 50% scholarship to go to a good private school to finish my bachelor's degree. And I hung out there for a lot longer than I needed to because they gave me a four-year scholarship.

And I'm a nerdy guy, so I'm happy to take extra classes and play around with that. And then later I went to graduate school for MBA. Okay. Now, I feel like there's a new narrative for people my age about college. How do you feel about people not wanting to go? You know, I used to think that was ridiculous. I used to think it was a terrible idea. And when I look at it today and you know, I'm not politically correct at all. I think it's, uh, for extraordinarily naive or low IQ individuals. And, um, you know, when I, when I see the things that are, you know, that I hesitate to say

being taught, you know, but the things that people are learning in college today is so much of it is so useless or even counterproductive. So, you know, when I went to school, there was still, I'm old enough that, you know, a university was a place that you went where smart people congregated to share intelligent ideas and argue a bit and look for a truth or a better way or a better path. Like a mastermind. Yeah. And now it's a place where dumb people go to get dumber. Yeah, I don't think I'd go to college today.

Wow. What do you think changed within – because this is only a 30, 40-year period. It's not like it's – I'm not that fucking old. Maybe 20, 30. My bad. I'm 44 that fucking old maybe 20 30 44 okay so 20 20 year period um no i mean i think that um there's a there's an extreme bias and the people that are you know are supposedly educating young people and uh you know the this political correct stuff is just nonsense. If anybody that values political correctness over factual correctness deserves the terrible outcomes they're about to experience in life.

So when you turn that university experience into you're not allowed to say this, you're not allowed to think that versus it should be a place for open thought and open discussion. Yeah. I saw on Patrick Bet-David's show, I think he said almost 100% of education is owned by the left. Yeah.

I mean, it's so bad that, yeah, you know, I mean, I'm not a Republican, but I'd say I'm, you know, financially concerned. I'd say I'm very socially liberal in the sense that I don't give a shit what people do. Like, pursue your happiness, enjoy your life. I don't care what people do. But don't ask me to pay the bill for their mistakes you know i don't think you and i should have to pay the bill for other people's mistakes right and i don't think they owe me anything either nobody owes me a cell phone nobody owes me rent nobody owes me medical care i don't

think anybody owes me anything but i also don't think i owe them anything right so you're a believer just get your own yeah yeah have your, have your talent, get your own. That's what a competent person should do. A respectable person should do. Yeah. No, I agree. I don't like when I'm leeching off people. It feels like I didn't deserve it almost. They don't deserve it.

Yeah. And when you have an ethos of people that are very undeserving and try to rationalize why they deserve your wealth, why they deserve your hard work, it's it's literally a a philosophy of slavery that you and i are supposed to work hard and then give the you know our earnings to someone who doesn't deserve it right 50 of our earnings yeah more in some states yeah cali 60 plus new york it is pretty wild and then you see where it goes to and you're like, what the hell? I never complain about taxes. I don't mind paying for things like infrastructure, military, police. I kind of like the idea that, you know, the U.S. has the best military in the world. I like that. I don't mind paying my portion of that. No problem. But, you know, to your point that some of the spending is so absurd is for things that like no one would do this with their

own money. Right. No one would do this with their own money. No one would do this with their own money. Yeah, I wish you could kind of choose where it went to, like maybe a category at least. I've had that thought at different times and I don't know that it works. Well, it would work in the sense that you and I are thinking of it,

that some absurd programs just simply wouldn't be funded because no one would donate money to do those things. Yeah, for sure. There's a lot of those programs right now. On your website, it says financial success is a lifestyle choice. It is a lifestyle choice to become smarter and work harder. And I mean, the only way to get ahead of life is you're going to have to be smarter or harder working than your competition, hopefully both. So I do think it's a lifestyle choice. I think millionaire, as we discussed, a million dollars isn't what it used to be, but being a millionaire in a first world country is absolutely his lifestyle choice. And being poor is also a lifestyle choice.

Yeah. I think people would get offended by that quote, but I think it makes sense. I don't give a shit what those people think. They don't think much at all, actually. Yeah. There's a lot of programming, right? A lot of bots right now. A person who would argue with that statement quite literally doesn't think much at all. They just have very little faith in their competency. It's the group of people that we were just talking about

that think that someone who's industrious and productive and works hard is somehow bad. Right. And I owe them health care or something. Yeah. No, I don't. And a lot of that is programmed. I agree.

A lot of public school systems, you mentioned leftist programs in universities, and that starts through the public school systems. The unions control a lot of that. And there's a lot of, you know, communication in that vein that, you know, welfare is good. And it's,

you know, somebody, somebody else should be paying for your expenses in life. It's like, you know, come on, man. Yeah.

They teach you some wild stuff. I was taught by my accountant to contribute to my IRA, which is useless. It pretty much is. Yeah. Can't touch it till 65. By the time inflation kicks in, that money's worthless. I have very little money in those type of retirement accounts. Yeah, it just doesn't make sense. Why would you lock up your money for 40,

50 years? I have IRAs. I don't have 401k, but I have a traditional IRA, Roth IRA. And I have the same opinion about it, that if that's what you're relying on is your whatever, but I have a traditional IRA, Roth IRA. And I have the same opinion about it, that if that's what you're relying on is your whatever, $6,000 or $7,000 a year that you can contribute and grow over time. If that's what you're relying on for your retirement, you're going to have a very sad retirement. Yeah, for sure. Did you ever have a nine to five job growing up? I quit my last job in January, 1999. I was a lowly manager at Walmart. Walmart. I was 19 years old managing Walmart employees.

Wow. And I didn't think that was my best opportunity in life. And this January of 2024, I needed an excuse to buy a Rolls Royce. So I kind of always wanted one. And I thought that's not a good reason, but a fun excuse to, I'm like, well, let me go buy a custom Phantom and the extended one with a lot of customization. So I spent $800,000 on a car to celebrate my 25th year of unemployment. Wow.

I didn't know they went out that much. Yeah, I just bought a G-Wagon last December, just the same reason. A little tax write-off. But, yeah yeah i was never too materialistic i definitely went through a watch phase but watches you could argue are an asset i mean you can sell the watch and make a profit on it probably yeah but there is that allure that a lot of people fall into with materialistic cars and objects you know live whatever life you want. Yeah.

I think the most important thing that money buys is your freedom. You don't have to spend time with people you don't want to. You don't have to agree with nonsensical arguments from people that you don't want to. Right. If you showed up to your job and, you know, if you don't have much savings or much wealth, then maybe you're going to go along with whatever your employer says. Like, all right, you know, Bob now identifies as Susan.

You're going to call Bob Susan from now on and use, you know, preposterous pronouns. I don't care if Bob wants to change his name to Susan. Cool. I might even call Bob Susan. All right, you're named Susan now. I'm probably not going to hang out with that person. All right, Susan, peace. Bye.

But I'm not going to agree to say these ridiculous pronouns and engage in a delusion of like, you know, she, her, whatever. No, if you have enough money, you don't have to participate in that nonsense. Right. And they say, we're going to cancel you. We're going to this, that. We're going to throttle your accounts we're gonna cancel you fuck you yeah well as a boss they're making requirements you have to hire certain genders and races and all this if you're a public company i just think it's ridiculous like how about hire the best people so like the the doors don't fall off the jets agreed and that's why I'll never want to go public, no matter what I do.

It's not worth it. I'm not in a position where I'm growing a company that would be a public company, but I've built good lifestyle companies, have very good income from that. If I didn't have that, I'd have a great income from my investments. I don't have to do anything if I don't want to.

I like solving puzzles and solving problems, and I like helping my clients a lot. So I really enjoy what I do. But I would just revert back to what we said about wealth creation. It's like more than – I have a Maybach. I have the Rolls-Royces coming in a few months. It takes six to eight months to deliver, they said. But I don't care about material stuff so much.

Live comfortably. But the most important thing is your freedom, that you don't have to participate in somebody else's delusions. You don't have to. You can spend your time as you wish. If you want to go travel somewhere, you could go travel somewhere. Stay in a nice place. Feel pretty comfortable. So after leaving Walmart, how long did it take you to achieve what you consider freedom?

Oh, it's, you know, only 15 years or so. Oh, okay. So it was a grind. Yeah. I thought it'd be quicker than that. I had my first million dollars when I was 29, just after my 29th birthday. Okay. And with inflation, I don't know, maybe that's 1.5 or 1.6 million today or something.

And then in my early 30s, in 32, 33, there was about 4 million. And then it was kind of a slow grind to about 11. And then 2020 recession happened, and I got to multiply that nicely through the hysteria of 2020, 2021. And there's plenty of people that are richer than me. Most of them are older than me, but I'm in the 70s right now, and I have $100 million in my 40s still, I would think. Yeah.

And again, I'm not telling somebody else, you have to be a millionaire, you have to be rich. Be poor if you want to. But I've just said it's a lifestyle choice. That was the original question that you mentioned. It's kind of hard to go make $100 million. It's probably an effort most people don't want to make. That's fine.

But make enough money that you're actually happy with your life. And only rich people can afford groceries now. For real. When I go to Whole Foods now, it's like $300. Everything's $300. That's not like a big shop. When I was a kid, which was only 40 years ago, it's not so old. But when I was a kid, $100 was

like a huge shopping cart of food. Oh, I bet. At Costco, you could do a lot with $100 back in the day. Yeah. And now, $100 is like, you could go to Costco and buy a filet mignon, a long piece of five pounds of filet mignon or something. That's crazy. And nothing else. And you can't even trust certain groceries with the quality of food these days, too. I bought a bunch of crab legs. It was quite a lot was it was you know a bit ridiculous but we bought about 50 pounds

of crab about 100 pounds of meat and it was over five thousand dollars from costco yeah it's one shopping cart it's all premium stuff it's like you know nice and the big king crab and uh nice ribeye steak so it's all premium stuff stuff, but it's over $5,000 with Jax. That is crazy, man. One shopping cart. I kind of did that just to make the point of if you fill the shopping cart with premium stuff, it's kind of expensive.

Yeah. No, it's a shame. You've got to have money to eat healthy these days, in America at least. Yeah, I agree. It's pretty wild. In Europe, you can eat a lot better. I like Europe because the food quality is actually good

and you can eat the pasta and not feel heavy do you travel a lot right now um i have in the past i've been to over 60 countries and flew a little over two million miles nice so i used to fly internationally quite a lot and spend five six months a year in other countries um i've been spending more time domestic i go to europe once in a while still but I don't hate it but I kind of wanted to be in more better fitness routines for like MMA training and weight lifting and you know if you're changing time zones week after week after week it's a lot more

difficult to do that. Can't beat Vegas for fight training. Yeah I have a lot of friends over here that are fighters and I have a I built my own gym that a lot of them come to train with me in Chicago as well and we have a studio and gym over there Nice so you look into fight or are you just I built my own gym that a lot of them come to train with me in Chicago as well. We have a studio and gym over there. Nice.

So you're looking to fight or are you just? I'm 44, man. I'll be 45 soon. Tyson's fighting. I don't want to say anything negative about Tyson. Tyson's getting a good paycheck. Yeah. Shout out to Mike Tyson.

Good for you, Mike. So you just do it more just as a health, holistic thing to stay in shape? I train like a pro fighter. I train with a to stay in shape? I train like a pro fighter. I train with a bunch of pro fighters. I train like a pro fighter. But it's not a career. Even then, you don't make that much money doing it. Yeah, unless you're Jon Jones.

You're not really making millions like that. No, that's true. I was with his coach last night. Jon's 24 or 25 and 0, basically. He lost one fight technically, but he knocked the guy unconscious and then was disqualified for an illegal strike. So I think of him as being undefeated. And if you're the best fighter in the world ever, John Jones, then maybe you can demand $10 million or something for a fight.

Yeah, Dana White has him as the GOAT. Do you consider him the GOAT as well? I do. I think it's hard to argue differently. Yeah, I have him as mine too. I mean, some people say Khabib, but I think John's beaten tougher opponents. I've met Khabib. I know his manager well. Khabib's a nice man. I have nothing negative to say about him, but

I don't think he's done what John Jones has done. Agreed. You interview a lot of fighters on your show, right? Yeah, I've done quite a few. What drew you to the fight world so heavily? You know, it's the last group of people that aren't full of shit. It's the last group of people that are very performance-minded. They have to be honest with themselves. It's an individual sport.

It's not like a team sport. So you have to go in a cage and do some very tough things. It's not enough to be like a tough person, psychologically tough, physically tough. By the time you've done enough training for 10 or 20 years to have a very high-level skill set, you have injuries that accumulate over time, et cetera, and you don't get to go in there and make excuses.

You're in there by yourself and uh outcomes are very clear and um people that make a lot of excuses don't fight at the highest levels you know for sure yeah you got to take accountability which is something people are seem to lack these days yeah i think those people not the you could say plenty of things about amateur fighters or lower level you know people that made it made it to the UFC and they're going to have two or four fights and then they're going to go manage a Denny's or whatever it might be. But the people that made it to the higher levels there and stuck around for, you know, 10 years or something,

those are, there's a people that have high level of personal responsibility and accountability. They're very reliable. They tend to keep their word consistently and uh i have a lot of friends that are that way that i have a lot of respect for those people ali yeah have you met mcgregor yet well there's a conflict there that uh a guy named paulie malinaggi was my boxing coach for uh i don't know 14 months or so and they have a significant beef with one another really so

i've been offered two and a half times to interview McGregor and I don't need to spend time with my friend's enemies. Wow, so you're very loyal. I am. Okay, that's a good skill. Dana's known for being loyal as well. I have nothing personally against McGregor.

I have nothing bad to say about the guy but great marketer. Made a lot of money over there. Great marketer. We just have a conflict that way. yeah i think he's fighting chandler i don't know if they announced it yet um chandler coming up i know mike chandler i've trained with him um done interviews with him he stayed with me he's a good man nice who do you got winning that fight if it happens no could go either way could go either way that you know. Jandler's going to be... He hasn't fought for a couple years

by that time. He trains hard. I hope Conor's training hard. I'm sure he is. He looks pretty fit. It could go either way. It's going to be an exciting fight. They're both pretty action-oriented people. Both tend to use a lot of energy in the

first couple rounds and get exhausted later. Probably won't go to decision. Good. I hope not. I want to see it done quick. Any up-and-coming fighters you got your eye on that you think can really take it off? I'll give a shout-out to the homie Brendan Allen. He's a young guy, still in his 20s.

I think he's got a main event coming up. What is that? This weekend he's got a main event coming up what is that this weekend he's got a main event in atlantic city so uh i mean no that's not true that's uh that's next week it's apex next week okay next week in las vegas so uh yeah he's he's maybe ranked number 10 right now or something like that at 185 but he's doing very well and has good momentum and it has the right type of mindset or personality to perform well. Nice.

I've been keeping my eye on Sean O'Malley. I saw him climb the ranks and he's number one now. What do you think of him? I don't much. I went to his fight in Miami. He beat Cheeto. I think he's very talented. I don't like his outward persona.

I'm not a fan of his outward persona. But I think behind the scenes, I think he's a lot more hardworking and responsible and respectable than his outward persona suggests. You wouldn't be able to get those results without being very consistent and diligent and intelligent in the background. So I think that's mostly an outward marketing thing that he's doing. I think so too. I think he followed Connor's path a little bit. know being very consistent and and diligent and intelligent in the background right so i think that's mostly an outward marketing thing that he's doing i think so too i think he followed uh connor's path a little bit you know that wild side i could see that you know the brash rat brothers there's a couple of kids out here that uh they came from london i think they came from they came from

middle eastern country pakistan or afghanistan first and then they were in london for some time those guys work really hard. They're smart. They work hard. They pay attention to detail. I think they're going to do very well. Cool. Keep an eye on them.

UFC 300 coming up. Will you be there? No, I won't. Went to the last four weeks I've been at the fights and a couple other obligations the next couple of weeks. Okay. Anything else you got coming up? Anything you want to promote or close off with?

Yeah, I think for, you I think if there's an introductory program that I have called the Ten Commandments of Wealth, if somebody's serious about understanding just good basic fundamentals to go from being an employee to an entrepreneur and maybe entrepreneur to investor, that'd be a great place to get started. Just check out my YouTube channel.

It's going on YouTube or Instagram and plenty of little entertaining clips in there that also are informative and can help somebody orient in the right direction to do a bit better for themselves. Perfect. Choose prosperity over poverty. Love it. We'll link it below. Thanks for coming on, man. Take care. Yeah, thanks for watching, guys. See you next time.