PBD Podcast - Bet-David Podcast | Guest: Tom Ellsworth (Biz Doc) | EP 51

Starting point is 00:00:00 We are live episode number 51 with Tom Ellsworth Bizdog and Adam Saas. And a question for you, when do you think about 51, the number 51, what do you think about? Everything to me and my mind, number has to do with something. What does 51 tell you? When do you think about the number 51? Give me a jersey, give me a year,

Starting point is 00:00:17 give me whatever something to do with 51. You really throw me off here, Pat. I got nothing. Something with 51. It's basically how elections are won in the United States now. Okay. That's how you think about it 51 Just a smidgen so 49 people up 40 and present this is a crazy stat on about to give you okay Cecil fielders best year in homeruns was 51. Okay for what it's worth I know it's worth nothing But that's the weird stats part

Starting point is 00:00:41 Maybe if somebody verifies a random saying you're wrong. I think it was 51. That's not we had a little controversy at dinner debate. We didn't we forgot the exact amount of Dimagio's history. 56. You said 51. I Adrian said 52. Mario who knows all the facts with sports. But it's 56. Dimagio. But we had a good time last night. Mayor Waters, Francis Waters from Miami. And the guy's a quality guy. He's got a lot of presence. Tana Swagger, okay, event was with your best friend, Adrian. Yes.

Starting point is 00:01:16 Um, whom Adrian has been all over the world. We learned he lived in... Yes, the NBC. Jerusalem for three years. Yep. And he was all over the place they said party you know Thursday night tell a v i think was uh... sad days tell a v third day night is jirus jirus jirussela had a lot of

Starting point is 00:01:32 good stories that guys uh... it was a meeting yesterday for nfts and crypto i mean the whole meeting yesterday at soho house and my amy was about crypto and nft it's interesting to see yeah bringing capital to my amy and i Miami being the capital of capital attracting all the, you know, and today

Starting point is 00:01:48 I don't know if you guys saw the taxes today with Cuomo. He announced it this morning where they were talking not he announced it this morning where they were talking about this morning, raising taxes in New York that's going to end up causing $4.3 billion. It's already been announced, top earners, all across the board, taxes to generate $4.3 billion after losing all the jobs that they've lost. They are still raising taxes. You know what I like about what Mayor Vara said yesterday? Suarez. Suarez said yesterday, here's what I like about what he said yesterday. By the way, the guy could have been a model

Starting point is 00:02:19 on cover of a GQ magazine. He's got that kind of a look and he's got everything. He's got everything too. He's got a Gen.A. key. He's conservative, but he kind of runs fromQ magazine. He's got that kind of a lock and he's got everything. He's got everything too. He's got a Gen. He's conservative, but he kind of runs from the middle. He said, he said, well, he's a Democrat apparently. He's a Miami Republican, meaning he's socially liberal for sure.

Starting point is 00:02:35 You know Miami, but a fiscal response. I like that. That's not in my mouth. He said, every chance I get to lower taxes, I do. He does, yeah. Every chance to low regulation I do, and every chance to bring more talent to Miami, I do. That's my priority. Says I wanna make sure everybody knows Miami

Starting point is 00:02:50 is one of the best cities we have in America. He believes it's the best city in America. The best city in America. But it is what it is. And you saw the shot that he took in New York. And he was pretty vocal about that he was like, look, I don't know what the hell they're doing there, but they're definitely going in the wrong direction,

Starting point is 00:03:03 moved to Miami. Yeah, he was not hesitating at all. He was not hesitating at all. And Tom, I don't want that about you. Tom used to party hardcore Miami years ago. Tell us about your party days in Miami. What part you want to tell me? Go as, as funny as possible.

Starting point is 00:03:18 No, no, no, no, I was not a part of your in Miami. We were, you know, shocking. No, no, no, we were middle class people. We'll come down spring break and stuff like that and, and two things, but I was never a big party or I've never had the dollars to go the big clubs or even back then the big clubs, you know, well that makes two of us Tom. I've never party down Miami. So one thing about you, extremely conservative kids who grows in his life mom and a girlfriend, that's it. That's right. That's a, that's a very committed thing. By the way, your story last night about Menut Ball was fantastic.

Starting point is 00:03:47 Yeah, but how you met Menut Ball at a bar, fantastic story. Me and Menut, one on one at a bar. Yes. I got drunk. Maybe at the end of the podcast, the last five minutes, you'll tell them Menut's story. I'll tell the story. But let's get into some of the stories that we have today.

Starting point is 00:04:01 We got a lot of crazy stories to go through today. Charles Barkley was asked during a college basketball game. He starts on what's going on with politics and his reaction. We're going to show the video in a minute here. I love what he had to say about it. And then LinkedIn apparently is given their entire employees, 15,000 employees the week off. Literally all of them, the week off. We'll cover that here in a minute. Delta cancels over 100 flights. They know why to sell us remaining steak in UFC two decades after buying it for only a couple million dollars and turning it into a seven or an eight

Starting point is 00:04:33 billion dollar company. And now he's selling the rest of his shares. Here's what two thirds of Americans have to say what did with their stimulus checks. Interesting where they use their money. All those phone numbers, 533 million Facebook phone numbers and personal data leaked online, including the founders Zuckerberg's phone number. CEOs reflect on the pandemic, hearing the lessons they've learned. Amazon is on the edge of Alabama Union vote,

Starting point is 00:04:58 which is going crazy, Bernie Sanders, all over that yesterday. Investors should buy real assets from wine to art as inflation reaches a secular turning point. Bank of America says, think about it. Bank of America's suggesting you buy real assets from wine to art. Bank of America. When would you have thought that Bank of America would have said to buy wine to art, NFT price, crash, steers debate on whether stimulus.

Starting point is 00:05:25 Let fat is over. It was like 74% Christ on big number there. Godzilla versus Kong. Top's the pandemic box. I watch it twice by the way. Less than 24 hours. I got a lot of questions. I watch it one night HBO.

Starting point is 00:05:36 The next I promised Mario was gonna go with them. So myself and the kids watch it twice within 20. It was like a homework assignment. We had phenomenal movie. And I'm not even a fan. Yes, we'll cover that as well. Goldman Sachs, Google and Amazon prepare for return to office. Microsoft wins US Army contract for augmented reality headset.

Starting point is 00:05:54 We're 21.9 billion dollars of it in the next 10 years. Trump changes the way he brands himself from Trump to the 45th. Is that a good idea or bad idea? Yellen to push, this is something I definitely want to talk about today. Yellen to push for global minimum tax on corporation. MLB moving all-star game out of Atlanta and response to the Georgia voting law, which by the way for some of you that don't know what's really in it. I printed out a couple things to read.

Starting point is 00:06:20 One is from Washington Post. One is from Heritage Action to talk about what's in the actual law that they're pitching to see is it as bad as the media telling us. The new law is enjoying the new long Georgia that's got folks to move the all-star game. Florida Governor DeSantis signs executive order banning vaccine passports in the state of Florida. U.S. and Iran agreed to resume talks over nuclear nuclear deal France took close schools Putin voted sexiest man in Russia Putin voted sexiest man in the run-or-row

Starting point is 00:06:55 DMX rapper not in good shape it's it's very unfortunate he had won the greatest albums of all time yeah and'm a dull man. Yep. And Unopened Super Mario Brothers game sells from 1986 for $660,000 and Tom Brady's working card sells for record breaking 2.25. So having said that with all those stories, do you want to just get right into the story you wanted to talk about which is how folks in America are spending their stimulus checks. Let's go into that. Before we do, can I give a quick shout out?

Starting point is 00:07:28 Sure. Because people are asking, Kai's not with us today. Yes. Kai is a little hungover. We went out Friday night. He had one too many orange juices. And he's nodded with us today. Tell the truth though.

Starting point is 00:07:39 Tell the truth. He had about four or five long ones. Sam and Kai got into a fight. Sam told them, I'm going to run it today because he's trying to impress a girl because he's on the camera. Look at his shape. Look at how perfectly shaped. Look at baby face. Sam is Colombian. He's single. He lives in Boka. Ladies, if you're interested, DM Sam, yeah, God of a hall. See God of a hall. Sam's usually behind the scenes. We're on the show. Now he's going to be. It is what it is. They may or may not be roommates,

Starting point is 00:08:05 they're friends, they may not be. Kai didn't like the comments about his hair, by the way. That upset him a little bit. Kai is going for the best bike flow. He got upset about that, so we have to change that. Kai, for your list.

Starting point is 00:08:14 Shout out to Kai. We love Kai. Kai, hope you feel better. Get well, sir. Yes. Okay, so let's talk about stimulus checks. Here's how two-thirds of Americans have used their stimulus checks.

Starting point is 00:08:23 Those 1,400 stimulus checks that started hitting mailboxes and march approval to people over one by debt. A study from Bill paying service docs or finds that 62% of stimulus checks are being used to pay bills with a significant portion of the earmark for credit card debt. Since the start of the pandemic says docs dox of 42% Americans have skipped paying at least one bill. Interesting. 42% Americans have skipped paying one bill. The dox of number fall in line with the data from U.S. Census Bureau Household Pulse survey in March of study from that group showed the majority of stimulus checks recipients planned to use the money

Starting point is 00:09:00 on food and utilities as household budgets remain stretched during the pandemic. A study of 110 million people who report a receiving stimulus checks taken between February 14th, February 17th and March for show debt reduction and household expenses as the top priorities. Adam thoughts. Yeah, I mean, there's a lot on packer. I actually love this story. So I think the number is 90% of Americans are receiving some form of stimulus. I didn't get a check bill. Well if you make over 75,000 which I assume

Starting point is 00:09:31 you do Pat I know you've had some up and down years but if you make under 75,000 dollars less you'll get $1400 I get phases out I believe it $80,000 like if you make 78,000 as an example you might get a check for like 800 bucks But it then starts to phase out if you're married you get a you make if you have a household income if you're married if you're Under 150,000 dollars you'll get the full 2800 and if you have dependence the reach getting so you know I went down to South Beach and I was interviewing a lot of people down there what they did with the Financial by the way, thank you. Check it out on value-taming economics a great amazing interview one girl

Starting point is 00:10:06 She I said oh how much you get? 1,400? She goes, no, 4,200. I go, wow, that's amazing. You married kids, dependents, all that. I go, how much did you spend to be here? 4,200. Oh my god, what are you doing? What are you doing?

Starting point is 00:10:18 So there's a lot of those kind of interviews down there in South Beach. But here's why I love this story so much. Two thirds of Americans have used their stimulus check to pay off debt. So, you know, I have my six principles of wealth philosophy. And number one is having a game plan for your money, which is a budget, what's your income,

Starting point is 00:10:35 what your expenses and all that. And then I say, number two is before you can win the money game, don't lose. And what's losing, losing is debt. So debt is your money going backwards. So the average interest rate on a credit card is 16% in America. The average, how the average credit card amount in debt is $6,000. So if you're getting $1400 check or even a $4,200 check, the best return on your investment might be to pay down that 16% interest rate, or in some cases 24, 25% interest rate, or if you have a pay day loan, it might be four or 500

Starting point is 00:11:09 percent, get the F out of debt before you can start saving and start investing. I know there's other stories out there that Tom, I'll hand it over to you. People that don't have debt are actually pumping their money right into the stock market, into Robinhood, and becoming investors. So here's my last point. 80% of Americans have debt. 80% of Americans have some form of debt. Only 55% of Americans are actually investing in the stock market.

Starting point is 00:11:34 So your goal should be to have a game plan for your money, get that F out of debt, start to save that money so you can start investing. So I applaud these people that actually paid off their debt with that. Good for them. Good for them. Tom, what do you think? Well, I think Americans are behaving responsibly and I think it's great. You're basically at them paying for, they're saying, Hey, we're spending this on core living, you know, household expenses and food, core living. And I'm also knocking down some debt that I had.

Starting point is 00:11:59 I think that's a very responsible thing to do. Now, does that bring back mainstream? Does that may bring back restaurants and entertainment in towns and cities? No, not yet. But I think for the average American for inside the household, I think it's very good. But is it bringing back the life to the cities? And I'm never mind spring break.

Starting point is 00:12:18 Never mind what's going on, you know, South Texas or South Florida. What I'm talking about is casual entertainment in any town, USA, you know, going out to do something, going out to dinner, restaurants are just now open. So that's not getting a lot of support, but I think it's really good news that Americans are doing this, because I think it makes,

Starting point is 00:12:34 you know, you don't want all the Americans stressed. And I think this is a very good thing. Flip side, you know, the single Americans, you met one, I don't think that was a terribly responsible answer she gave, but also you had millennials that were single saying, you met one. I don't think that was the terribly responsible answer she gave. But also, you had millennials that were single saying, hey, thanks for the stimulus. I'm gonna go buy some crypto and I have my coin-based account.

Starting point is 00:12:51 And I'm gonna go buy some NFTs, you know, some interesting things, some music clips that I like. I'm like, ugh, that's, you know, that's a great story for national media because it's like the, oh my gosh, kind of angled to the headlines. Wait, so you're saying not a good idea to take your stimulus go by NFTs. No I don't think so if somebody said hey I put it in my you know I mexed out my annual limit from my 401k and bought a you know some more stock in some

Starting point is 00:13:16 mutual or something. Okay great that's that's a savings plan. But when you hear like the hey I'm just gonna gamble with it if I lose it I lose it. So what do you think about NFTs? What do you think about NFTs? I think, I think this is a new collectible that's here to stay, but I'm saying that those millennials that took the stimulus check and the first thing they did was basically gamble, you know, higher risk. I don't think that's too smart, but I love what American families

Starting point is 00:13:40 and households did with the stimulus. People trying to get rich quick is what you're saying. Well, so what did you do with your stimulus check? What's the stimulus show? You're so funny speaking to NFTs I know we were at the event last night with the mayor and Adrian and the authority and everything they're doing and and Bitcloud you think that's going on with that but you actually did an awesome motivation Monday this past week about doing some research.

Starting point is 00:14:05 And what was the motivation for that? Because if you, I mean, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, I, BTS, I'm saying. Anato Tomponko, you know, he sends me. Almost. He sends, say, you say it, see if you can say it. Yannis Antento Compo. Okay. I'm doing it. Antento Compo. That's why I just say Yannis.

Starting point is 00:14:34 He sends me this message. He says, he says, should I buy this card or should I not buy this card? It's a BTS 9.5 and a BTS. It's a BTS 10 card and 10 auto, right? This is what he sends me Tom. And he says, do you think this is a good price to send? To buy.

Starting point is 00:14:48 And I said, here's the numbers. I sent them a few things for them to look at. And even yesterday, I got a bunch of new cars that came in. I got a 1958 Atlantic Frank Sinatra cart, PSA 10. Okay. This is amazing. I gotta know that he had these kind of stuff. Sofio Lorenz autograph.

Starting point is 00:15:02 I'm a big Sofio Lorenz car. You know, by the way, look at this one here. This is the highest graded Grace Kelly, Megan Merkel's hero, Grace Kelly, PSA 9, highest graded, PSA 9. This is a special card right there. I got a card, Gable 1957 card, PSA 9. I got this one, Tom will appreciate appreciate another grace Kelly Lawrence Olivier. I got a Malcolm X card PSA 10

Starting point is 00:15:30 I got a Marlon Brando card from 1950 look at this stud right here man Marlon Brando 1950. Wow. This before he was dating James Dean Which is Too Elizabeth Taylor time you gonna add them. I think you'll like this. That is Frank Sinatra, and that is the... Two Elizabeth Taylor. Time, you're gonna add them. I think you'll like this. This is another, uh, uh, uh, uh, Sophia Lorraine Cartt autograph. She was a jaculous, huh?

Starting point is 00:15:50 Elvis Presley, PSA 9. She was the original, you know, anyways. Kind of round woman, you know? Round woman. No, you're a bustier lady. Well, before it was Marilyn Monroe, it was Sophia Lorraine, and Kim Kardashian,

Starting point is 00:16:02 all of these guys are part of the lineage of Sophia Lorraine. Okay. This is before, you know, she was before Marilyn Monroe. Sofia Loren. She may not know this before Marilyn Monroe. I think it's about an era after. But Marilyn Monroe, anyway, so it's interjects real quick. I mean, you had the Marilyn Monroe of it. Like these are gorgeous, you know, full figure woman.

Starting point is 00:16:20 Now you're these types of people. You're just a standard Instagram model. That's all you're supposed to say. I think Sophia Loren today would have a few hundred million followers oh clearly I mean she's so feel-in-wish 25 but now I think it takes a picture like that you're just a standard Instagram so so you're hating it here's one of those you asked the question you say what do you say about research right so there's the one thing with Tom give you a perfect example with Tom I've spent a lot of time with Tom. Give you a perfect example with Tom.

Starting point is 00:16:45 I've spent a lot of time with Tom. Tom and I have traveled. I don't know how many places we've gone to together. I tell you one thing about Tom. If you watch his case studies, the guys like yesterday's Dukati case study that just came out today, sick. We watch it on the drive to Miami, right?

Starting point is 00:16:59 Sick. You learn so much about it, right? One of Tom's biggest strengths I learned from him, okay? Just watching him, not even like asking him. Tom's a master researcher, okay? He researches, so is Greg's share, so is the most successful people I've done business with. There is this ability to research that people

Starting point is 00:17:18 don't put value behind. So even today with NFTs, yesterday when I was calling, we were on the phone with Jake yesterday on the way to Miami. And I'm talking about BitCloud because I'm getting ready to introduce it to a few different people and we're talking to crypto attorneys, can they be sued? How can you be sued?

Starting point is 00:17:34 Are you selling securities? What could happen? What could not happen? You got to do research to get your questions. Questions, right? Yeah, so these things with cards, these things with NFTs, we're being hit up by so many different angles right now.

Starting point is 00:17:46 So many different things are being talked about right now that we don't know about. So rather than just jumping in and saying, I'm gonna go into them and I'm gonna, I don't know what's going on, I'm gonna do it. Why don't you take a full day and research to the topics that interest you the most? Exactly.

Starting point is 00:17:59 That's all I'm talking about. You know, that's what you gotta be doing. You gotta do your own case studies. But you talked about, you know, NFTs with millennials put in their money and NFTs. I'm gonna go into the stats about NFTs, okay, which has to do with what happened with stimulus checkstop.

Starting point is 00:18:13 And so NFT price crash, there's debate on whether stimulus led fat is over. This is a Bloomberg story. How it started in February, 20,000 buyers spend more than $45 million on basketball clips in a single day. Let me say that one more time. 20,000 buyers spend $45 million

Starting point is 00:18:32 on basketball clips in a single day. Today, the average price of NFTs, essentially trading, tradable digital certificates that use blockchain technologies to prove ownership and provenance on online assets have tumbled almost 70% from a peak in February to about $1400. Chris Wilmer University of Pittsburgh academic who co-edits a blockchain research journal said NFTs aren't in a bubble any more than cryptocurrencies in bubble.

Starting point is 00:18:56 There will be manias and irrational exuberance but cryptocurrencies cleared here to stay with us for the long term and NFTs are probably two. NFTs are far from risk-free, whether due to further price drops, so-called wash training, trading, where deals that look genuine are actually done by a small group to create an illusion of high demand or plain fraud. I'm going to read that last part one more time. Folks, if you're listening, let me read that last part again, and I want to give your thoughts on this. NFTs are far from risk-free, whether due to further price drops, so-called wash trading. Wash trading. It's

Starting point is 00:19:32 a wash. You buy from a friend at a high price and you kind of make it work, but the price of the NFT goes higher, where deals that look genuine are actually done by small groups to create an illusion of high demand or plain fraud. That is happening. That's not everybody. That's happening with a small percentage. That's given a bad rep. Tom, thoughts on NFTs?

Starting point is 00:19:51 Well, you know what, Easter was yesterday, and there is no new sin in the world. That's what we found out. The sinfulness and the greed of man is consistent. And what you see here on NFTs, there's a little phrase called pump and dump. And that's written down right here. Yep, that's exactly right.

Starting point is 00:20:06 This has been going on since the pink sheets. Hey, I've got the pink sheets, by the way, where ultra-low, Jordan Buffard, what was ultra-low? Yeah, the ultra-low, correct. Ultra-low price stocks are out there. A bunch of guys get together, create some trades.

Starting point is 00:20:20 There's a little pop, looks like momentum. They get on the phone, start calling people, fake research reports, pump and dump. Pop. Pop. Boom. Oh my gosh, you're right. I just looked at that thing. You're right. It was at two yesterday, and that's two and a half. Now it's three, three and a quarter, four. Oh my goodness. That $4 a share. I could get in there with, wow, $100. I can get $25. Wow. I could put $1,000. I could get this pumping up tomorrow morning. It's back up $1.75. And so-

Starting point is 00:20:45 It's nothing new. It's nothing new. It's been going on. It's going to continue going on. That's exactly right. That's an unregulated product today. And for people that, you know, millennials or someone maybe younger, younger entrepreneurs listening,

Starting point is 00:20:55 pumping up with something that was happening in 70s and 80s and kind of that kind of went away. But in Wolfel Wall Street, you saw the, the, the, the, the, I'm going to give a completely different side of what you're saying, right? And so what I'm saying is, this is nothing new. And so people say, wow, where did this come from?

Starting point is 00:21:09 This crime is not a new idea. I'm gonna give you a complete different side. Did you wanna say something on that? No, I kinda know where you're going, but I think the fact that it is non-fungible, this keyword fungible. You know where I'm going. Yeah, so I don't want, I mean, I'm setting you up for it.

Starting point is 00:21:24 Dude, why don't you just tell us your gift of reading people's minds? I have a Distant gift well, I'll tell you why tell me because I'm gonna bring this back to you now, baby say it because I loved your intro from that video You did yesterday and you said look you know you you ever when you've seen pat your own researchers Well, I'm becoming more of a researcher, right? You know the osmosis with the the biz doc. But you said, I don't, I don't, I say, I don't know what, uh, what crypto is. I'm not, I don't understand what blockchain is. What's an NFT?

Starting point is 00:21:52 What's fungible? I don't know what fungible means. I don't, and then you said, listen, a lot of people don't know. It's okay. Do your research. Yeah. And I had to do, dude, we're, and I got a year ago, if you asked me what an NFT was, I was like, what'd you just spell NFL wrong?

Starting point is 00:22:06 I have no clue what it was. And a year ago, most people don't even know what fungible was two weeks ago. Okay, there we go. Today, there we go. But you are a good mine reader. You have ESPN. Yeah.

Starting point is 00:22:13 And NFL reference ESPN, we're going sports here. Not too much sports, though, value tanners. But that's where I'm thinking that, you know, your story that you always tell about the Picasso. But the frickin' Picasso. But the guy goes to the deathbed, it's these Picasso's, it's last painting. The beauty of these non-fungibles is that you can't duplicate them, you can't sort of bring the pump and dump corruption mentality to this. So I'm setting you up because I'm sure you have a lower, a lower level right now.

Starting point is 00:22:40 I'm going a complete different direction. Oh, okay. So I'm going a complete different direction. So the story starts off with us talking about stimulus checks, right? Yes, sir. What these kids did. And then Tom talked about them being responsible. And you talked about the one girl you met in Miami that spent what?

Starting point is 00:22:53 $4,200. I was talking about stimulus check. I'm assuming that's $1,400 times three, which is $4,200. Yeah, yeah, yeah, yeah. Okay, great. You blew it a check. So that's what she did, right? Here's where I go.

Starting point is 00:23:03 Yeah. Go to the 18 year old Tom go go to the 18 year old Tom Go to the 18 year old I was part in spring break when he was a Miami non-stop go to the 18 year old P.B.D Right my chain in my clock. Yeah, I can see that chain hundred clock You have a flavor but if you go back to the 20 20 year old 18 year old P.B.D. I'm in the army. I'm getting out of the army I have no clue what to do. Okay, let me take what I did with my money. Let me take what I did with my money I I have no clue what to do. Okay, let me take what I did with my money. Let me take what I did with my money. I did anything I could to 10x my money.

Starting point is 00:23:28 Okay, I bought penny stocks, I bought a penny stock one time for five cents. This penny stock within a week went to 75 cents. I was on top of the world for one hour and then went back to three cents. And I thought, you know, should I get out? I didn't get out, do I didn't get out because

Starting point is 00:23:44 I'm a dumb, with penny stocks, you can't sell as fast as you can with, you know, different kind of stocks, a different kind of thing. So then I said, you know what, screw this, I took my money and I just want to buy a bunch of Nike stock. I started following online and then I want to buy a bunch of different things. I started risking my money in these different things.

Starting point is 00:24:01 You know how much I ended up losing? I lost $49,000. I was on $49,000 of debt in my early 20s. That in my early 20s. Why? Taking a crap load of risk, nonsense risk that had no clue what I was doing with my money. Uninformed risk.

Starting point is 00:24:16 Uninformed risk. Then finally, at 21, at 21, 22, I gave my series 7. I go to Morgan Stanley, gave get my 63, all those licenses that comes to me. Then I start learning about the ability to research, then I start focusing on one industry, things change. Here's my point. If you're young and you're listening to this,

Starting point is 00:24:36 you're 18, 19, 20, 21, and you're screwing off with your money, you're throwing into NFTs or whatever you're doing, there's a part of me that says that 18-year-old Tom may have done that a little bit There's a part of me that says the 18-year atom may have been like, you know what? I don't know there's a part of me that says because you know as you get old They're all you want to do is you want to talk about how responsible we were and we forget about how irresponsible We were and there's an element of taking that risk that the younger generations doing if you're gonna spend $4,200 at a nightclub versus putting in an NFTs,

Starting point is 00:25:06 guess what I'm banking for. I'm gonna take that NFTs. Yeah, go into the NFTs. You know, go into the NFTs and see what that can turn into. But if there is any advice you can take from three men sitting at this table in their 40s. I'm gonna leave it at that. Three gentlemen sitting at this table in their 40s. 40s means you're about 40s.

Starting point is 00:25:24 We're all in our 40s. 40s means you're about 40s, we're all in our 40s. Is do some research on any of these topics? Let's go into what the Bank of America folks are saying. Speaking of research. Investors should buy real assets from wine to art as inflation reaches a secular turning point Bank of America says, a story by business insider. Since the

Starting point is 00:25:45 election president Joe Biden inflation and its potential comeback has been a hot economic topic, pumping trillions of dollars into the economy could overheat critics say while others see few signs of runway inflation either now or near future. Bank of America Chief Investment Strategist Michael Hartnet has seen enough to declare a secular turning point on inflation and anticipates that stock market returns will be lackluster over the next decade. Let me read that one more time. This is not an employee at Bank of America. This is not a director. This is not an advisor. This is not an accountant. This is the chief investment strategist

Starting point is 00:26:24 Michael Hartnet has seen enough to declare a second returning point on inflation Anticipates that stock market returns will be lack cluster over the next decade stock investors who've seen a Roughly 10% annual return from recent decades should expect that gain to go down to 3 to 5% over the course of 2020 He added but he has a recommendation By real assets such as real estate, commodities, and even collectibles like wine, art, diamonds, cars, could outperform in the next decade. You know what this is?

Starting point is 00:26:52 This is collectibles. These are things that you cannot duplicate. You cannot get another Grace Kelly PSA 10, 1955 card. You can't duplicate these things, right? The chance of that happening is slim to none. So investors don't need to own the physical assets heart and add it, but instead can own REITs, real estate investment trusts and specialized funds

Starting point is 00:27:11 that focus on these assets. So he's saying the next decade, if you read it right, land is gonna go up, real estate is gonna go up, anything that you can just print is gonna go up. Tom, I'm gonna go to you first on this story. What are your thoughts? You agree with them. Okay.

Starting point is 00:27:26 B.A.V.S. Ultra Ego in the investment banking world and Wall Street is? Goldman. Merrill Lynch. Merrill Lynch, yeah. Yep. That's how they bought them out like in 11 years ago. And it just so happens, we have a REIT

Starting point is 00:27:39 and a specialized fund that we could help you out with this. So there's a little bit of retail sale here going on, but I think he's right because he's describing a simple analysis. If inflation goes up and these returns go to three to five over here, then your return could be 10% over here. I think that's a really sliver of a gap there, but I don't disagree with it. And I think with inflation, I think the collectibles that are not an infinite supply, I think that works. I think it's a valid investment strategy, but it's one of many strategies. Yeah, I think I'll take this with a grain of salt. This is one guy, there's gonna be other analysts

Starting point is 00:28:25 that are gonna say, put your money in the stock market. Are you crazy? So I think the, a couple key lessons for all our friends out there watching this is number one, diversification. So, should you be in the stock market or resounding yes, should you have all your money in the stock market? Maybe not, maybe you should diversify and have some reads.

Starting point is 00:28:44 Like friends, I'm very big, I rent. I think I've been very vocal about that. I don't buy houses. I just kind of keep it moving and I'm very flexible and I move from Miami to Bokeh to Dallas. But it's a lifestyle choices. Lifestyle choice. Obviously, when I have kids and I settle down, it's a different story, but I might even still rent at that point. Sure. But I'm all in on the stock market and I've things have done very well over the last decade and change

Starting point is 00:29:11 But should you put a you know a sliver of your money and reats maybe 10% sure Should you put a 10% of your 5 to 10% of your assets into crypto sure But the bulk of it should be in the stock market in my opinion whether it's a 401k Both of it should be in the stock I think so yes. I think so think so. Yes. Because again, building average investor. Yes. Or even the, I mean, for everyone, but like, don't forget, building wealth is a marathon, not a sprint. We talked about the 18 year old getting into debt, trying to get rich quick. And then I think it worked out pretty well for you. But it's a marathon, not a sprint. The goal, if you're 18 or 21 or 25 ends and get rich by 30. It's to I just think an 18 year old can take a lot more risk. Well clearly you should the right sector for an 18 19 20 year old is like well, you can bounce back a lot of

Starting point is 00:29:52 you. Yeah. That's what they say that if you're not the dumb big mistake. Well, not dead. Not going backwards. Now, not well, I got into dead 49. I mean, I wasn't to dead. Non stop is what I wasn't to. So, but what I'm saying to you is not the dumb mistake. You can not the dumb mistake. You can't make a dumb mistake. The dumb mistake is you get caught something that, you know, gets you a felony or something that hurts you to go into a business or your record, things like that.

Starting point is 00:30:14 All of the other mistake, you can lose all the money in the world if you're younger, not all the money in the world, but you can lose some money because you can recover from it. Of course. But you're saying like getting arrested, having a mark on your record.

Starting point is 00:30:24 Like selling, you know know drugs just to make money I'm not talking about play the long game with that. So I don't want anybody quote me and say patch you said Anything to take the risk. I'm not saying that here's my last point I believe in something called the kiss principle. Keep it simple stupid. So we've talked I started the theme of this podcast so far as do your research, you know find out what's going on out there So they're giving you a lot of recommendations where you can kind of put your money whether it's real estate commodities We talk, I started the theme of this podcast so far as do your research. Find out what's going on out there. So they're giving you a lot of recommendations where you can kind of put your money, whether it's real estate commodities, collectibles, wine, art, diamonds, like I don't know anything

Starting point is 00:30:52 about wine. Other than if I'm going to have a glass of dinner, yeah, I'll take the cap. Cool. I'm not going to become a wine investor. I don't know anything about art. I'm not going to become a art investor. So I do know about basketball. I do know about the NBA.

Starting point is 00:31:04 So yeah, I'd put 10 grand on a design Williamson card because I understand that marketplace. I understand hard assets like real estate, but I'm not trying to buy a property. So, that's one big advocate of REITs, real estate investment trust with people out there that aren't familiar with that. But diversify, but I would say regardless of your age, 50% if not more

Starting point is 00:31:27 of your core acid allocation should be in the S&P 500. You could, this guy is telling you to, you know how you say, hey, you know, what he's doing is he's selling because it's Merrill Lynch and all that, right? Okay, let's just say yes, he is, but Tom, I think he's observing and selling, but I think if you read it the guy says Real real real asses such as real estate commodities and even collectibles like wine art diamonds and car could out porn at Performing the next decade. Those are none of the products. He sells If he's like he's not selling wine. He's not selling art. He's not selling diamonds. He's not selling cars

Starting point is 00:32:05 That's not what B.A.V.A. specializes in correct is selling not selling cars. That's not what B of A specializes in. He is selling, not selling a way. It's a bad term for the financial industry, but he's selling to a different direction. And imagine if you're one of his advisors and you're sitting there saying, why are you as a chief investment strategist talking about mine? What, I can't make money on it. How do you want me to make a commission

Starting point is 00:32:18 so I can get your money back to you? You think he's facing backlash? No, what I'm saying is, I like his honesty. I like the fact that he's act, because most of the time when he like, I like his honesty. I like the fact that he's, because most of the time when he like, I go to, you know, DC events with Goldman Sachs and the chief economist will speak and all these guys will speak,

Starting point is 00:32:31 they'll typically give you whatever recommendation and you know, you know what I'm talking about. They'll tell the fuck it's not right. But I like the fact that, I don't know him. I've never met him. I don't know his story. I don't know his background. For all I know, it's, you could know is you could be someone who's against capitalism. But-

Starting point is 00:32:47 Pull up Michael Hartnett. Yeah, but all I can say is the fact that he's selling this, the way he's saying, cars, diamonds, art and wine. There's some integrity in it, and what he's saying, that's all I can say. He's saying cars, he didn't take cars, but of ours. I don't say cars, cars.

Starting point is 00:33:02 Right, which, I mean, I don't know what kind of cars is referring to. Let me tell you, Tom. Tom, why don't you tell us, tell us how much money is made in in cards, collectible cards, like literally crazy, crazy classic, crazy money. Crazy. Yeah, yeah, yeah, yeah, yeah, yeah. You put a line for the S&P 500 and you put a line for collectible frories. The frories are crushing it. Sam, heart, just crush ART, any TT. I'm sorry, Tom, keep going. You. Sam, heart, just crushy RT, any TT. I'm sorry Tom, keep going, you were saying. No, if you looked at Frires just as a,

Starting point is 00:33:30 from the 1950s, 60s and 70s, just look at those, those vehicles, and look at them, say as an S&P 500, and the Ferrari market letter, which is almost, What a Wikipedia. The stock market for that, it is phenomenal. The money you've made on that. And so you can go get smart about it.

Starting point is 00:33:46 You don't have to own it. You can, with a consortium, you can own them. It's just amazing. By the way, also, this guy, how do we know that he, he was honest with what he said. This is a business insider story. So how much of all this did he expect to see in print? Was that an offhand comment that he made?

Starting point is 00:34:03 Talking about inflation and he makes an off-hand comment about cars and stuff and it puts it in print. And then meanwhile, business insiders, as well as you said in the story, well that part was off the record. I'm just gonna say that, I was talking about the, the other things. Well, it is what it is.

Starting point is 00:34:14 And you know, it's really interesting about the stock market. I saw something, somebody asked me, say, look, how do I, how do I learn about the stock market? I said, look, stock market. Stock market has got a risky side, and stock market has a more conservative side that has a lot less risk. And one of the best things I saw was, you know, 529s.

Starting point is 00:34:32 What's a 529? It's a college. It's a college savings plan. And so who buys into college savings plans? Mom and dads, right. Who might not know anything about it, other than maybe they have a pension, but the pension is managed by somebody else.

Starting point is 00:34:46 So they may not be retail investors with any sort of knowledge of stock market. There's this great analysis that said the closer your child gets to college, you can just click the box here and we will reduce the risk in your 5.20 and it's sort of like a target date fund. That's exactly right. But again, these people don't know what that means. But it was a beautiful explanation that says, hey, the risk here at kindergarten is going to be here, but we're going to be reducing the risk the closer they get to college, because although there is still risk in this fund, there's still risk of loss, the closer we get to college, we want to turn down the market risk.

Starting point is 00:35:18 That's our job, that's what you're trusting us to do. And then you read this thing, and I'm like, when I first saw that, and it was TIA creft at it, I said, wow, what a great explanation for parents that let you walk away saying, okay, this is how the 529 is gonna roll. And also it was a primer on being in the stock market, but not everything is just throwing darts at the wall. I like that.

Starting point is 00:35:39 Well, I think with anything with investing, much like in anything with life, it comes down to risk versus reward, right? So something that I when I was like I don't know how to invest I don't know when I was in my early mid 20s I learned about the 80 20 rule the closer you are to age 20 the more you can have 80% in stocks 20% in bonds the closer you are to 80 more closer to 80% bonds 20% stocks. So depending on your age like Pat like said when he said, uh, when

Starting point is 00:36:05 he was 18 years old, he took on a lot of debt. You have time to bounce back. You can take on more risk, not dumb risk, not getting arrested, not out there selling drugs, not getting in stupid fights, anything like that. But the younger you are, you can take on more risk. The older you are, if you're in your 80s, you shouldn't be in 100% equities. You should be in more likely 80 or 90% bonds and less stocks. So everything in life comes at risk of reward. And just like the 529 plan, when someone's in kindergarten, they've got 18, you know, not 18, 12 plus years for their money to grow. I did some basic math there versus if they're a sophomore, less time to make that money grow. Well, I'll loop one more

Starting point is 00:36:44 thing around NFTs because that's where this part of this segment started is I don't see any difference in what's happening in NFTs first issues right now from IPOs. There are IPOs that come out and they're a little bit rushed. It's a weaker company, but they have this amazing first day and then they settle and then they all come back. Some of our last couple case studies were companies that I showed. Hey, well, look, they had this huge, huge pop came down, but then they stuck discipline, discipline,

Starting point is 00:37:07 discipline, growth growth, growth, profit, profit, profit, and the price comes back up. I think that's, you're seeing that with NFTs. Wow, I love basketball. You know, LeBron James is only making 100 versions of that one dunk is first official NBA dunk. Oh, my goodness. Pop. Well, I think over time, there's still only a hundred of those. So I think the value will come back. But it is kind of like a little, a lot of this, there's a little bit of this IPO pop at the beginning, wouldn't you say?

Starting point is 00:37:33 Think of IPO, I have a good idea for you for a next segment. We might cover it today, but if we don't, I'll tell it to you after the show. I mean, think about it. Tom Brady, a rookie card sold for a record break in $2.25 million. The AutoCraft 2000 playoff contender championship rookie ticket was a part of Leelens spring classic 2021 collection the opening bid was at $75,000 but 67 offers later and the

Starting point is 00:37:56 Anonymous buy or walked away with the item item for record $2.25 million dollars the card is one the only 100 ever made and Was previously purchased on eBay over a decade ago when it remained in a private collection before being sold. Think about it, guy bought this on eBay over a decade ago. Keeps it, doesn't do anything. 10 years later puts in an auction, sells it for $2.25 million. The rare item received an 8.5 grade

Starting point is 00:38:21 and a nine on the signature broke a record. Prior record was 1.2 million of also Tom Brady. And then you also have the Super Mario Brothers game. Can you pull up the picture here? Super Mario Brothers game unopened. So for 660 from 1986, clapping Super Mario, Mario, and then just type Unopened type in unopened there you go open box. Yeah, click on that

Starting point is 00:38:53 Let's see if comes up 660 can you type in six hundred sixty thousand dollars? 660 yet type on right there. Let's see what comes up go to news. No no go to all all all yeah There you go right there go to the second one CNN. Yeah That's it look at that that's all for 660 That's right there so for 660 thousand dollars just because it's unopened. Yeah, you got a great of 9.6 again You can't duplicate that. You either have it or you don't have it.

Starting point is 00:39:28 And somebody may say, what a stupid thing to own. But it's unopened from 1986, which is how many years ago, 35 years ago, someone sees value in that. So you may have some things you're buying right now that no one's paying attention to. Sit on it for a little while. Well, I think that's what was going on with this. It's a similar theme here. You said sit on it. I say buy and hold. So, or as my crypto friends will say buy and hold. You've seen that before. Yeah. So,

Starting point is 00:39:54 good things take time as they say. And sometimes it's going to take a decade like at the Tom Brady story or sometimes it's going to take three and a half decades for your money to mat matriculate but good things take time and it goes back to my initial philosophy that building Walt is a marathon, not a sprint. Well let me say this though, Zach Shaw just gave five bucks. And he said just found out about VT economics, not VT. Okay. VT and economics channel yesterday, Adam you did a fantastic job with the Miami Vacation case study and big shout out to the BizDoc as well.

Starting point is 00:40:26 Thank you so much. Big shout out to the BizDoc as well. My partner, Cron, I'm on the VT Economic. Daniel, do you guys agree? And Daniel, do you guys agree? And I just did an interview with Daniel that completely crushed it. And next Friday, I got a huge interview coming out

Starting point is 00:40:37 with none other than the BizDoc himself. So we're keeping it in the family here, but shout out to all our friends out there watching Vieta and I can only- I'm looking forward to that. I'm gonna sit down with you next week. Buy and hold, we're gonna're we're keeping it in the family here, but shout out to all our friends out there watching by you team and I can I'm looking forward to that. I'm sitting with you next week. Bye and hold we're gonna get to know the biz doc And we're gonna have a beer during that interview. So we should do that. So let's let's do a beer in business Let's go to your best friend Janet Yellen. Oh Very big fan of when Janet yelling by Janet yelling She's got that deal but Adam was ecstatic on the podcast

Starting point is 00:41:08 Yeah, I'm to push for global minimum tax on corporations Let me say that one more time Yelon to push for global minimum tax on corporations Cmbc however not just on corporations She is pitching this to have a tax on corporations around the world, not US. By the way, what he has here, the story that you have here, Kai, is not the story I was looking at. Is there the story of she says global tax or no? It's global in the top of page six.

Starting point is 00:41:40 So Janet, the Alan will call for minimum tax levy on corporations around the world in an effort to keep companies from relocating to find lower rates. Yellen will tell the Chicago Council on Global Affairs, conference that established a minimum global corporate rate will help bring stability and provide a more level playing field for all countries. Under the Biden administration proposals to raise a corporate tax rate as a way to pay for $2 trillion dollar infrastructure improvement plan. The corporate tax rate would climb to 28% from a 21%. That increase would come just four years after former president Donald Trump slashed it from

Starting point is 00:42:13 35 to 21, which at the time was a high center world at 35. We back up and say that again, forget about Trump. 35 to 21. United States corporate tax just years ago in the world. That's forget about trump which feel about him thirty five percent others companies here in america repaying more tax in anywhere on the planet companies companies also had him incentivize to hide revenue offshore something the trump tax cut also addressed by adding reparation rep repute the top pronounced that would right there uh... re-hate creation Repatriation. Repatriation. In other words, big dollars and savings accounts overseas.

Starting point is 00:42:48 Bring it back here. Bring it back here. Yes, the Biden plan would call for an increase in the offshore tax rate to 21 from 10 and half. Okay, all that stuff we've already talked about. Let's emphasize one area here. So Janet, the Ellen goes to the G20 saying, hey, why don't we all have the same corporate tax rate rather than just US raising it?

Starting point is 00:43:06 Why don't we all agree on the same number? What do you think about that? Well, if you're and I have a list of the countries with the lowest corporate tax rate, it makes no sense for you to do because that's your competitive advantage. What are the countries we're talking about? Hungry 9%, Montenegro 9%, Bosnia and Herz Herzkovoinia, 10 percent, Bulgaria, 10 percent. This is corporate tax rate that you're talking about. The lowest corporate tax is in the world.

Starting point is 00:43:30 Moldova, 12 percent, Cypress, 12 and a half percent. Everyone's familiar with that, Ireland has very low corporate tax rate, 12 and a half percent. Apple, Senegal, yeah. Albania, 15 percent. So you're talking about basically somewhere about 10 and 15 percent for most of these countries.

Starting point is 00:43:43 This is their competitive advantage. Like why the hell you going to Moldova or Montenegro unless they had to relocate your corporate business unless they actually have low corporate tax rates. We kind of covered this with Byron last week. And it's stuff that blew my mind. I didn't understand the double taxation with, you know, if you're corporate tax and then if you want to pull money out, there's an income tax and all that. But I think where Yellen is going with this and a couple different points here is, I

Starting point is 00:44:10 think what she's aiming to do, I'm not saying that these countries are going to play ball because I think it mitigates their competitive advantage. Why would they give that up? But she's basically selling this will prevent offshoreing. It was essentially what that whole repatriation and incentivizing thing that was Trump, that the Trump tax cuts were addressing. So I don't know if these countries are gonna play ball.

Starting point is 00:44:34 I think this is something she's putting out there. You think about it, what do you think about it? What do you think about getting the corporate tax rate for Jeep, you know, the top 20, whatever, economists you wanna talk talk about to be the same exact number. What do you think about that? Is that a good thing or is that a bad thing? I think if you're America and you have traditionally the highest tax rate, 35% and Trump that it down, brought it down to 21 and now it's at 28 or Biden's at least pitching 28.

Starting point is 00:44:58 I know they're around them negotiations right now. Maybe they meet the middle of their 25. I think it's freaking great for America. But I don't know who I'm sorry, who is America? Who is America? Who is America? You said it's great for America. Who is America? American corporations are talking about, taxpayers are talking about. No, no, but you said it's great for America.

Starting point is 00:45:18 Who is America? You said if America is able to get this corporate tax rate to go and be the same, it is great for America. Would you keep our corporations? Why would we want our corporations leaving the same? So who wins though? Who wins in America? Who wins in America if we keep all that the same and there is no competition for corporate tax rate?

Starting point is 00:45:40 Which part of America wins? The people, the entrepreneur, small business owners, or the tax collectors in DC. The US government, the US Treasury. Wait a minute, wait a minute, you said, all of the above wins? I think so. Tell me how all the above wins.

Starting point is 00:45:54 Well, if the corporations stay here and they're paying lower taxes than having to go elsewhere, there's some incentives at that. More jobs, but obviously the big one is taxes, the IRS, the, you know, I think that's something that they'd be interested in the taxes. So, so then let me ask you a question, who keeps the government honest?

Starting point is 00:46:14 If the government doesn't have any competition, who keeps the government honest? Corporations, I guess. How do you do that? You don't have the final say. The corporations are nothing. There are no bodies. How do you, how do you keep a government honest?

Starting point is 00:46:26 If the corporation has no other place to go, like no other place to go, what is the leverage for the customer and the corporation to complain and say, we don't like the way we're being treated. What's the government gonna say? Go to any of the G20s the same thing. You don't like us? You know, go to any of the G20s the same thing. Yeah, you don't like us. You know,

Starting point is 00:46:46 go to Turkey figured out because it's same everywhere. You lose officially and you have no say. You already, if you go to DMV and you file a complaint about DMV on the help, you know how many people read it? Nobody. Yeah, because it's the good post the review on the help and see how many the DMV employees respond to you. Go ahead, try today. Yeah, not have. Go to your local DMV, go to the front that's Clorning, Catherine or Johnny. He's not going to say, hi, how are you? How was your day? Well, have a wonderful day. He's just going to tell you, excuse me, sit down and go right on Yelp. Catherine told me to sit down and I didn't like it. And see how many people are going to say,

Starting point is 00:47:25 we're sorry you feel that way. We totally understand. That's not the right approach. We are working to bring it up in our next training routine to make sure that never happens again. Go ahead and see where TSA or Yelp, TSA or DME. Go follow complain about TSA on Yelp. Go ahead. I'd love to see you do it.

Starting point is 00:47:42 Let's see what happens. Where's accountability if all of a sudden a yelling convinces all of these guys. Tom, let me just turn it over to you here. Big countries have been doing this to little countries for a thousand years. And the big countries are trying to take the competitive advantage away from the small countries. The reason Apple is in Ireland and a million other examples you could have is because there is an economic advantage

Starting point is 00:48:05 and there is a labor force there and it was better for them and better for their stock price and better for their overall return. And now you've got the Empire Strikes Back where they're coming in and saying, wait a minute, why don't we just make the high tax rate even for everyone. She's not talking about the 15% tax rate in Ireland.

Starting point is 00:48:25 She's talking about the 35% rate. Why don't we just make 35% every now? The small countries, oh wow, they're gonna collect 35 tax. Yeah, but they're gonna fewer organizations coming to them to do it. So big countries have been doing it the small countries forever.

Starting point is 00:48:42 I mean, this goes back to revolutionary times where Britain would harvest trees from the US, take them, build furniture, and then sell them back to the colonists. That's called mercantilism. And people say, wait a minute. So you cut down the tree that was in America, you then turned it into a chair,

Starting point is 00:48:59 and then sold it back to the American that lived down the street from the tree, cut down. Yeah, that's right. So big countries have been doing this, the small countries forever. The fact that Yellen brings up her proposal is only to benefit the dirt that she's standing on when she makes that proposal,

Starting point is 00:49:14 which represents, is the US government and the US treasury. That's it. President Biden proposed to announce last week, watch this. That's my opinion. This is what she says, by the way. President Biden's proposal announced last week, call for bold domestic action, what she says by the way president byton's proposal announced last week call for bold domestic action including the raise to raise the u.s. minimum tax rate and renewed international engagement recognizing that it is important to work with other countries to end

Starting point is 00:49:33 the pressures of tax competition and corporate to let me read the sense to work with other countries to end the pressure of tax competition hey iroland knock it off yeah let me read the statement one more time. Bold President Biden's proposal announced last week called for bold domestic action, including to raise the U.S. minimum tax rate and renewed international engagement, recognizing that it is important to work with other countries to end the pressures of tax competition. Like, and corporate tax-based erosion. The pressures on who, on her, on us, said Miss Yellen, we are working with G20 nations

Starting point is 00:50:16 to agree to a global, minimum corporate tax rate that can stop the race to the bottom. Look, let me give you, let me give you, let me give you, let me read those last Realize, stop the race to where the bottom, which is benefits who the government? No, the race to the bottom benefits the The smaller company that can go where it wants, but let me say this to you. Let me say this to you You ever hear when Sanders gets up there and Sanders will say an argument like this or Sanders would say to Obama would say to Hillary would say any of these guys would say how can we be the most powerful richest country in the world and we don't offer healthcare every other country in Europe does it right you know what happens here they

Starting point is 00:50:55 can't use that argument because when when a politician says that the average voter says what the average voter says? If all these other countries in Europe and Canada offer healthcare, why don't we? You know what? I'll vote for it. It is an American right to have health insurance given to everybody because Europe's doing it. Fair. No problem. I get something. I want something. You just told me I could get something. So now I want it. But in flip it. Now on this side, they can't say we're raising a corporate tax or to 28% because that's what all the European countries do See they don't have that Statement today to make so they want to get it up so they can say look. It's what everybody does. It's normal

Starting point is 00:51:37 It's what everybody does try they don't have that argument because the moment they say they want to raise a corporate tax rate Guess what the public can say? We are the highest we have the highest corporate tax rate where in the world and democrats are like and in the voter the average voter the average voter voters not a dummy voter system says we have the highest corporate tax rate in the world why would America have the highest corporate tax rate in the world let me go to a little bit of research they come back and say yeah I'm not with that I don't think we should have the highest court even a democrat would say I don't have that is corporate tax rate in the world but if they get this argument in

Starting point is 00:52:11 then guess what it's okay if we have the highest corporate tax rate in the world you want a limited competition with government taxes are you kidding me that's what saves america what we have up the other that was talking to uh... uh... i can't wait for this interview. I seriously cannot wait for this interview to come out with the guy who bought Beeples NFT metacobin right six and a million dollars and he said I said so why do you live in Singapore? He says why do I live in Singapore? He says no taxes on capital gains

Starting point is 00:52:41 My income taxes are around 10 to 20 percent No regulation. I don't have to report anything Nobody wants to know how much money I have. He says do you know why I don't want to move to America? I said why look what the guy says he says I don't want to move to America because I'm worried the moment I go into America for the rest of my life They can trace me to pay taxes on things I did in the past because now they have my fingerprint I don't want that Singapore doesn't care who I am and what I'm doing Singapore all they care about is for me to pay 10 to 20% of income

Starting point is 00:53:10 Zero capital gains low regulation nothing. This is why myself and many others like living in Singapore You think America likes that? Hell no. You think these politicians today in the left like Yellenins and Warren and AOCs and Biden those guys like that Absolutely not, but you know what a message like that from Singapore does Pisses these people off to say damn it. I was about to take you to 35 But you know, why don't we just settle at 25 corporate tax rate? If we don't have that argument from the other side they can take you to 35 You can't say nothing because all they're gonna do is say hey G20 We're gonna take this to 35 you guys also got to take you to 35. You can't say nothing because all they're going to do is say, hey, G20, we're going to take this to 35. You guys also

Starting point is 00:53:47 got to take it to 35 and they have to do it. It's a monopoly. It's controlled. The word that I'm coming to mind because you brought it up there is just competition. Without competition, you have nothing. Do we have competition? Right now, this podcast, does it have competition? Yes, we do. Do you have competition with a live settlement? Do I have competition? Yes we do. Do you have competition with a life settlement? Everyone, yeah, of course. Do I have competition? Does everybody here have a job have competition? Yeah. Does time have competition? Does the Uber driver have competition?

Starting point is 00:54:11 Does the Lyft have competition? Does the Pizza Joint have competition? Does it Italy, you know, a sub-join have competition? Do states have competition? So should government? Right. Why only put the competition on us, small businesses and employees, and states, and take the competition off us, small businesses and employees and states

Starting point is 00:54:25 and take the competition off the government? How's that fair? So we get to have the pressure of going to sleep at night worrying about our competitor taking a market share from us, but you don't get to have that pressure? No, we believe in equal opportunity. And you politicians also need to have competition. Well, I think what it, what, you know, as an American, you want to say, like, well, no, you know, you know, America first and we know what you can be with America no it holds America accountable so we can't get fat and lazy if you have no competition you're the only person you're the fat cat you're only company doing xyz you have no competition that's how you'll become fat

Starting point is 00:54:58 lazy sloppy like your DMV example if someone goes on to yelp and says well marry down to the DMV told me to sit down and there's no response, there's no accountability, how do you improve? So like you always say, outlast, out-prove, strategize, and if you don't have to do any of that because you have no competition, that's how Empire's crumble. Absolutely right. And you you know there's a little case sitting on this atrial easy Eduardo's savern who is the co-founder of Facebook who moved to Singapore and then renounced his US citizenship By the way, he was living in Singapore since like 2007

Starting point is 00:55:36 He renounces his citizenship 2009 and people said wait a minute you just did this to avoid $700,000 700 wait a minute you just did this to avoid seven hundred thousand dollars seven hundred uh... seven hundred million dollars south of thailand and uh... in capital gains tax he said no no no my wife and i just love single-pork right now lives in single-pork

Starting point is 00:55:56 and so that's a whole point obviously southeastern why do all the why do the oil barons in the oil pirates live in believe same reason people say oh these are tax havens he said no they're not this is these are choices you're valid choices so you're saying that they're not tax havens no no if they're not if all taxes are equal you wouldn't be living in Singapore no way absolutely not if all taxable no you wouldn't but by the way Singapore is necessary go to images go to images real quick where by the way take the map out everybody kind of knows I take the map out go to the building with the cool

Starting point is 00:56:33 Now keep going out keep going out keep going out keep going out. Okay, so go down a little bit pull it down a little bit You got Thailand you got Vietnam you got Cambodia Malaysia South South right there to the east of to the west of Indonesia now you got Cambodia Malaysia South South right there to the east of to the west of Indonesia Indonesia you have Australia on this side, but you kind of see what's out these days Asia the islands now go to the images of Singapore go to images of Singapore go to images of Singapore Singapore they go And they just click on images Okay, I gotta tell you guys Sam's coming for your job, bro. Like, there is a swimming pool

Starting point is 00:57:06 that goes all the way around the hotel. It's a beautiful hotel. The what? The shows that they have on the show. You've been to Singapore twice? Who is that guy? By the way, we can't hear your audio. So, say, yeah, go ahead.

Starting point is 00:57:20 Okay, the shows that they have on night with the high trees, is it like Vegas? Is it somewhat like Vegas Vegas and Macau combined? Yes. Yeah So so by the way a lot of movies are shot here just so you know a lot of movies are shot in Singapore. It's a beautiful place and This is not a pitch for Singapore. This is for pitch that Singapore is very necessary for America Singapore is so imagine there is no argument for us right now to talk about with Singapore. The guy says capital gains zero. Why pay taxes on cap- he was confused. He says I don't understand why America taxes are guys on capital gains. I don't get it. Why would you pay tax on capital gains? Why are Americans paying tax on capital gains, right? And Biden goes back again this week talking about a well tax, back at it again.

Starting point is 00:58:08 So this whole concept about global corporate tax folks, if you're listening to this, look, left, right, middle, wherever you are, if you're listening to this, do a little bit of research on what global corporate tax could do to you, especially if you're living in America. If you're living in any other country outside of America, don't even think about voting for that to be passed. If anybody in your state or country is pitching you on, you know the powerful people of U.S. are pitching us to have the same corporate tax rate.

Starting point is 00:58:39 You may want to think twice before agreeing to want to vote for that. Go ahead, Tom. Absolutely, and here's something else to go look at. And everyone is listening, go get smart. Go look at the Federal Trade Commission was saying when Sprint and T-Mobile were trying to merge, oh, the self-reduced competition, competition brings more features, more functionality,

Starting point is 00:58:59 more differentiation, and better pricing for the consumer. Remember that, Pat? If there's only two or three wireless carriers, they may all just freeze pricing together, like only two gas stations on corner, they face each other and they never moved the price of gas down for gallon, you know what I mean? So, Federal Trade Commission is very big on this.

Starting point is 00:59:16 We protect the consumer. We wanna make sure there's competition the marketplace which brings lower pricing, new products, differentiation. Those people that are at the Federal Trade Commission are specifically not allowed apparently to be at the State Department because if they're at the State Department, they'd be like, what do you knucklehead saying? The competition among countries is going, no, no, no, go back to the Federal Trade Commission.

Starting point is 00:59:36 You're not allowed in here. Turn that guy's badge off. Don't let him get through this door anymore. It's a hypocrisy that's inside of our own government. On one side, we're arguing that we need the level of playing field for us. And on the other side, we're at the Federal Trade Commission, not letting companies merge together because, oh, wait a minute, that would be monopolistic.

Starting point is 00:59:52 That wouldn't come on. Oh my gosh. Isn't it a hypocrisy? Yeah, I mean, listen, one of the best things in the world is the pressure of having competition. The pressure of having competition is what makes wives treat their husbands better, husbands treat their wives better, parents to be better parents, men to be better men, women to be better women, teachers to be better

Starting point is 01:00:14 teachers, customers to be better customers, employees to be better employees, movies to be better movies, sports teams to be better sports teams, competition like the yesterday we're setting out so whole house. What did Adrian put up on his phone? What did Adrian put on his phone? What were we watching on his phone? We were watching the game, Gonzaga. How many times do we look at the screen?

Starting point is 01:00:34 Five times. Yeah. In a span of 45 minutes. You know why? Why the hell am I going to watch a 19 point lead by Baylor? Yeah. What am I going to watch? And you know, the Baylor, the Gonzaga guy said,

Starting point is 01:00:45 I don't know if you saw this thing going viral, Gonzaga guy said, we have the best offensive team and all of college basketball. The bailer team said, we lift weights with bailer's football team. I'm waiting like, what are you talking about? We'll go up your ass. And that's exactly what happened.

Starting point is 01:01:01 It was a shlacking on what happened with the day loss, pretty bad on what to play. That's the bailer there. But here's the point. They lost pretty, pretty bad on what to play. That's about the bailer there. But here's the point. We didn't watch the phone about five times. I literally looked 15 point lead. I looked 11 minutes, 17 point lead. I looked two minutes, 19 point lead.

Starting point is 01:01:15 There's no competition. It's competition. You will not pay attention to it. One of the best things for our health and our sanity is competition. Absolutely competition. You would not be in shape today if it wasn't for competition. Man, I think this was a very powerful segment that we just learned because you know, it definitely resonates and I learned something specifically about the corporate tax, but it all comes

Starting point is 01:01:40 down to competition. We need it, buddy. We just need it. It makes us get better. That's all I'm saying. It makes us get better. That's all I'm saying. It makes us get better. Let me give a quick shout out for a couple people that gave some contributed to the channel here. The P.K. VT economics. We gave shout out already to him.

Starting point is 01:01:55 Jonas Aung-Gi-Kyoha. Hi-Pah, do you think China has involved in military coup in Myanmar where democratically elected leaders are detained and almost thousands of civilians killed, what do you think I think about that? I mean, obviously, it's a... The point is, I feel very bad for what's going on over there, and unfortunately, China is able to go around doing what they're doing because nobody's holding them accountable,

Starting point is 01:02:18 and everybody's worried about losing them because of commerce, and we're not right now from the top treating them in a way where they're scared of anybody. We're just empowered them even more from US government. David Berkovich gave five dollars time to forget income taxes, consumption taxes, raised more revenue, and don't disincentivize investment and growth. It's a great idea.

Starting point is 01:02:39 Will it happen in America? I don't know about that. $50 from Stephen Carra, Farquhous, P.V.D. will you debate socialist YouTuber Vanouche on minimal wage check out us? I will gladly debate anybody who's a socialist, but not a disrespectful one. And he's a disrespectful one, I don't have any time. I have a very basic rule.

Starting point is 01:02:55 You respect me? I will talk to you. You crossed the line and disrespect me. I don't have any tolerance for that and that's not somewhere where we will entertain. I've had communist on Slavic Gieck. I've had Richard Wolf on what we had the greatest debate. He was known as the number one greatest socialist professor

Starting point is 01:03:10 in America by Forbes. We had a wonderful conversation, but someone needs to learn how to respect. If you do that, by the way, if I literally watch a video, and within a first minute, you're already disrespecting the person you disagree with, one, it shows weakness too. You're not somebody that can do a debate and we just move on. Next, Mr. Clean,

Starting point is 01:03:26 bald guy, gave five bucks. What a nice guy. If you're needing the world to adapt their tax rates because you're spending habits, maybe just maybe it's time to adjust your spending habits. Phenomenal quote, that needs to be on Twitter by the way. Mr. Clean guy, tweet it.

Starting point is 01:03:40 Seriously, if you're needing the world to adapt their tax rates. Can you, Mr. Clean, can you send that to me on Twitter their tax rates, can you, Mr. Kling, can you send that to me on Twitter and put hashtag P.B.D. podcast? I'm going to retweet that of your tweet. Me too. If you're needing the world to adapt their tax rates, maybe your spending habits, just maybe it's time to adjust your spending habits. Martin Morage just gave $3 with a nice emoji. Milan Bognanovic gave $5 saying check out Peter Ships directly addresses Yellen's plan via YouTube. And let's get back into it folks. If you got a question, you can ask it on Twitter, PBD podcast. I actually look at all the tweets. So go on Twitter, hashtag PBD podcast, I and Sam are following those tweets. Next, Dana White to sell his remaining shares of UFC two decades after buying it for a couple

Starting point is 01:04:30 million dollars. It's now a seven billion who wrote this article was one kid. This is a euro because it's pound seven billion pounds, which is what roughly it's about a 10 billion dollar company as tech mogul Elon Musk joins the board of director of UFC. Interesting. They know what I said to hand over his remaining shares in UFC as parent company endeavor prepares to take 100% control over this company.

Starting point is 01:04:53 UFC, they know why it was installed as the organization's president back in 2021. After his childhood friend Lorenzo, for Tita and his brother Frank bought it for a couple million dollars. He cashed in when he sold a chunk of his shares to Endeavor in 2016 in a cell for around three and a half billion dollars. Endeavor conglomerate ran by Hollywood super agent Ari Immanuel.

Starting point is 01:05:12 That last Immanuel, they produce some players, has already built up a controlling stake, a 50.1% of UFC. And now it wants to scoop up the rest. And another boost for Endeavor, tech billionaire Alamos is now sitting on their board. What do you think about the Sano? I mean, there's so much unpack in this story. This is actually the idea I had for you, because this Endeavor group is basically looking

Starting point is 01:05:35 to take the company public. This was an idea I had for you to do, maybe a bizdog episode on whatever is going on here with this Endeavor group in UFC. I mean, you go back 10 years ago, UFC wasn't even in the conversation as a top sport. Wasn't even the conversation. I mean, it's not in the big three or the big four

Starting point is 01:05:57 or whatever, basketball, football, baseball, hockey, you know, soccer, track and field, boxing. It was a comedy brand. Yeah. And now UFC is certainly bigger than boxing these days. Oh my god. Boxing is so below UFC these days that the biggest fights in boxing are 50 year olds, Mike Tyson versus Roy Jones Jr.

Starting point is 01:06:19 Or Wayans. Or Wayans. Or Fricking Jake Paul versus Nate Robinson. Like that's how far boxing is sunk versus UFC. So and it all kind of falls on Dana White, what he's been able to do. And it started with a $1.5 million investment or 1.5 million pounds,

Starting point is 01:06:38 which is probably closer to $2 million. And now his 1.5 investment is worth what? $7 billion? What is that? No, no, not his. Okay, they know why. They know why it's only 10% of that $8 billion and he sold some of his shares and now he's going to sell the rest. So he may have sold 5% of it, which $475 million, now he's going to sell the other 5% for

Starting point is 01:06:59 probably $350 million. So he's going to walk away. He's going to walk away with a half a billion dollars. So what's in a half a billion dollars? What is number? I'm going to say he's between probably walk a billion half a billion dollars So I'm gonna have a number. I'm gonna say he's between five hundred to a billion dollars is what he's all 500 to 750 so what the guys a player What do you say a thousand time excess money? Where's yeah, it's not even about a thousand time excess money if if Dana White wanted to run for office

Starting point is 01:07:19 He's got that kind of swagger to want to do whatever the hell you want to do He's they know he's told he wouldn't do it because he wants that freedom that he has. Here's a thing with Dana White. People don't realize a Dana White. Let me just give this shout out to Dana White. You can replace great fighters. You have to realize the UFC's had Anderson Silva, Chuck Lidell, Tito. These guys were legends, even some of the old school guys.

Starting point is 01:07:42 GSP. Connor, where's he at? Connor, the DS brothers. There are so many incredible fighters, we like, oh my gosh, I enjoy watching this. I wanna see another fight of this guy. Great Armenian fighter, great Mexican, Randall, I mean, Randall was from a different,

Starting point is 01:07:58 the point I'm trying to make to you is fighters have come and gone, but there's one guy that stuck around and it's been Dana White. When you think about UFC, you think about one name. You think about Dana White, right? They got a deep bench right now, guys, that could be the next Dana White. And their biggest challenge, whoever buys them, endeavor, they have to make sure they keep their Dana White. Look when boxing started, take a hit.

Starting point is 01:08:22 Think about when boxing started, take a hit. I got a guy that wants to be interviewed on value team and who was Connected to the mob and he was one the biggest guys when he came down to boxing You know we were talking about this guy, you know his PR Publis has reached out to us where they manipulated fights Hey you lose in second round lose in third round because it's so many ways to make money in boxing Vegas make so much money gamblers Make it's a dirty side of it as well, right? You don't hear that what you have seen,

Starting point is 01:08:47 but you hear that lab with boxing. You know when boxing started kind of a drifting and people stop following it, when you no longer heard of a guy named Don King, okay, people have to realize there is so much value in a Don King. There were the Don King was replaced by a fighter, Mayweather. That's bad news when the Donkink becomes a fighter.

Starting point is 01:09:12 Because a fighter is eventually going to what? Stop fighting. The career of a promoter is longer than the career of a what? A fighter. So especially peak, right? So if whoever endeavor, you know, endeavor comes in here and takes, you know, endeavor comes in here and takes, you know, Dana White's rest of the shares out

Starting point is 01:09:27 because they wanna be 100%, they better give this guy a fat salary with a nice profit sharing in some, you know, additional bonuses because the guy's done a great job or slowly but surely you better start getting that bench set up of the next 10, 12 guys that can potentially beat a Dana White. Somebody that's a true believer in it and see what happens with it. Bodybuilding, Mr. Olympia. You know why

Starting point is 01:09:48 bodybuilding, Mr. Olympia has been dying out? Why? Because nobody's replacing Joe Weeder. Everybody's trying to be Joe Weeder, no one's replacing Joe Weeder. Even the guy that we had on a value team, we interviewed him, who was one of the greatest promoters of all time, like literally one of the greatest promoters of all time. Oh man, I cannot believe I'm missing him. You know, you go back and you look at even Wayne DeMillia, phenomenal interview. I really enjoy talking to Wayne.

Starting point is 01:10:17 The stories he told, all the things that he did, promoters are very valuable. Whoever's buying this, you better have a deep bench of someone with Dana White tendencies. I agree exactly what you're saying and what you're talking about is the forward brand of a company. Here's what's going on here. So the two brothers buy this, let's think of that as the venture capital stage for UFC, million half dollars seat funding, pretty damn big seed, and all they go. Then endeavor buys it in 16 for $3 billion, big chunk that they buy. There is probably a three-year earnout on that, and their earnout is, hey, this has to keep

Starting point is 01:10:53 going, this can't crash, you have to stay involved over three years. Well that would be 2019, then we roll into the COVID year of 2020. Now they want to buy the rest of it and potentially take it public. So what they're trying to do here is consolidate all the stock so that they can take it public without complication. And that's what Endeavour wants to do. Endeavour is a talent agency. I hope they're listening to what Pat just said because you need a face of the brand to

Starting point is 01:11:18 go forward. This is a mechanical move to consolidate the stock. Get ready for an IPO, take it forward. That's great. Everybody can invest in it. Wall Street bets can talk about it, but if they don't have the face of the brand, then guess what, they've got Apple without Steve Jobs. And that's not gonna work.

Starting point is 01:11:34 You need a face of the brand based on this. You know, you need Larry Ellison at Oracle, you needed Steve Jobs here, you needed Gates and Microsoft. There are faces that are out there by the way. You went to the brand going to the brand gates was a geek link to Microsoft. You know, the jobs was a brilliant designer of product instinct. Time link to the brand. Would you give credit to gates for who he replaced himself with? Yes, I would. Okay. I would just I would. But Balmer, are you kidding me the guys as a the

Starting point is 01:12:08 Domino of credit gates gifts to him don't get me wrong big bump heads And it's not like a best friend relationship that they had But you know what Balmer did to Microsoft. Yes, you know what Tim cooked it to Apple I mean you got a so so I just hope they find a right guy replacing they know why that's a true believer That's all I'm saying. I think they actually they understand this 100% I mean nobody spends 10 billion dollars. Do you think they actually, they understand this? Like 100% I mean, they're not like, whoa! 10 billion dollars, but I understand this. They know exactly what I'm talking about. They're not, you know, they know it. No, no, not at all. They know it. But sometimes, sometimes, you, when you make a choice like this, you can't choose someone you like. That's right. Sometimes

Starting point is 01:12:42 you choose someone you like. You have to choose the right person that can do the job. And you typically don't like Bill Gates doesn't love bomber. He's the right guy for it. And they have to choose the right guy. Can you imagine how like I think my Dana White what do you think Dana White's like to have somebody that's reporting to to his board? He's a handful. Yeah. Can you imagine Dana White coming in? Well, let me give you guys an update of what's going on with our numbers. No, imagine Dana White in the board room I'm so fuck I can't believe he throw out a shit through the window in these mother I'm we're gonna go after the Oscar that's who he is now the first thing is hey Dana's an hour away to get for the board meeting. Are we having this board meeting? What are we doing here?

Starting point is 01:13:18 You know, where is this guy is he coming here? Are we doing this today say something? You know because he's the guy Is he coming here or we do business today? Say something. You know? Because he's the guy that knows how to steer the pot. And that's exactly right. The C-letter word, the sexy C-letter word of today's podcast. Oh my gosh. Competition, baby.

Starting point is 01:13:33 Competition is so sexy. Research and competition. Competition is so flipping sexy. By the way, if you're listening, you agree, you disagree. I love it. Either way, comment below, but if you're enjoying a podcast, smash that thumbs up button. And if you think you're already a subscriber,

Starting point is 01:13:53 you may not be because this is a complete different channel. Click that subscribe button and the notification button. So you will be notified the next time we go live with our podcast. I have one point, one last point here. Tell us. I want everybody to go look at UFC and go take a look at this and look at who are their main big sponsors,

Starting point is 01:14:11 like the official soda, the official beer. Look at all those, look at the money to UFC. Do you think the NFL MLB major league baseball NBA, do you think they want those dollars? They sure do. And so there's also a side of this that they're competing for corporate dollars for all the eyeballs of the young men and women that love the brand. And Dana White is a magnet that makes that happen.

Starting point is 01:14:34 There's that C word again, competition. All right. I feel like monster is the biggest sponsor of UFC. I just, and proper 12th. It's probably monster, but proper 12 would be a billion dollar. I mean, I mean, I know you're help. I gotta tell you right there is something. You think the other sports want those dollars?

Starting point is 01:14:52 Absolutely they do. Who wants a dollar? The other sports want those dollars. Of course, of course. Of course, of course. There is no face of base basketball. You know, they had to make it LeBron. The product is the face.

Starting point is 01:15:02 LeBron's an iPhone 11. Some day LeBron will be product is the face. LeBron's an iPhone 11. Some day LeBron will be replaced by somebody else. He's a heck of a heck of an iPhone, but the point is there's no face to the NBA, the players of the face to the NBA. Deano White is the face, the passion, the future, the rudder of UFC. Can you imagine? President Deano White. President Deano White, what do you have to say? Let me ask you, for instance, Tom Brady has been in the face of the NFL for 20 freaking years. Roger Gidell is the proverbial face of the NFL,

Starting point is 01:15:34 but people don't like Gidell. As he, maybe others do. And by the way, not only the owners do, the players do as well. Why? Wait, wait, wait, wait, okay, let's do some. By the way, just so you know, I'm not a go-del. I'm not here endorsing go-del.

Starting point is 01:15:48 God knows a few years ago you can watch a video with what I had to say about go-del. That's a call-soft. This is not an endorsement of go-del. However, however, you ready? And by the way, what I didn't like about go-del is one issue. I have a go-del. One.

Starting point is 01:16:01 As being the eye and consistency. He should have contacted Kaepernick, ASAP and met with them and the players association and said, what's bothering you? Let's come up with a plan ASAP. He was afraid to do so. It turned into what it turned into. They lost viewership. That's the only thing I don't like about what he did. However, let's flip it. You ready? So how can a organization called achieves can afford to pay a mahogas, a half a billion dollar contract?

Starting point is 01:16:31 Where the next month the guy made so much money, he became a co-owner of the Kansas City Royals. You know how they can afford to pay me half a billion dollars? Because Roger Goddell got so much TV money that the chief said said we better pay this guy money because we just got paid So Godell made my homes a ton of money and they just signed such a ridiculous TV broadcasting Yes, I said that they For the first time in yeah for the first time in 43 years They said well well add an extra game so the NFL this season add an extra week on to it NFL fans because it's no longer 16 games. It's now 17

Starting point is 01:17:06 So I said Joe Rogan somebody said Joe Rogan will replace Dana White honesty. I don't think Joe wants that job I think I don't think I think Joe believe it or not. I think Joe is a He's got he's got a sweet side to him. I think Joe's got a sweet side to him I really appreciate you saying that well also an intellectual side to him He wants to have yeah, I think he's had a face side to him. I really appreciate you saying that. Well, also an intellectual side to him. He wants to have kind of conversations and understandings. I don't think he's trying to fight, fight, fight, fight, fight. Joe is not trying to be there in a way.

Starting point is 01:17:31 No. Joe is one of those guys that you watch and you say, this guy's found exactly the position to play and he's maximizing that. You ever see somebody where you're like, I don't know why I watch you. I think you can kill it and something. I just have no clue what it is,

Starting point is 01:17:48 but I don't understand why you're not winning right now. And all it is is a different position they need to be in. Joe's in a perfect position he needs to be. I don't know about Joe being Dana White or wanting to be Dana White. Who knows? Maybe I'm wrong. Joe's gonna say I'm starting podcasts with Spotify. I'm replacing Dana White's job and I'm now running UFC. I don't want to talk about sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure if I'm not sure They may know it's right. Forget about sports. He was a pitcher who found his home as a closer

Starting point is 01:18:25 and became one of the most dominant close to his adversary. In other words, he knew he was good at. He knew his position and he went there and he was it. And that's what you're talking about. Guys, we did it. We have a Dennis Echersley and a Cecil Fielder reference today. Talk about 80s and 90s baseball, PBD. All right.

Starting point is 01:18:40 Again, if you enjoy the smash thumbs up, we're getting close to hitting 3,000. Ever since we changed the timing, came to Florida. We haven't hit that number for a while,, we're getting close to it in 3000. Ever since we changed the time and came to Florida, we haven't hit that number for a while, but we're looking forward to getting that. All right, so let's talk about Trump going to 45th, go to page five, go to page five, page five, page five, Trump.

Starting point is 01:19:01 The 45th, why Trump is abandoning his iconic brand for a number, NBC news. Donald Trump spend a lifetime putting his name on a stakes to skyscrapers, to stimulus checks, but now the former president appears to be replacing the gold plated surname with the number 45. Last week, the 45th president launched his new official website, 45office.com. Literally, the number 45, go to forty five office dot com let's see what it looks like a you are a on a url unlike those of his

Starting point is 01:19:29 president predecessors pre-descessors predecessors who use their names for the web addresses his pack can be accessed to save america forty five dot com his white house all tweed can be found at white house forty five and when his attorney brought a bru Bruce Castor signed on to represent him in a second impeachment case, he said, I consider the privilege to present the 45th. President many politicians are known to staffers and friends by nicknames or initials.

Starting point is 01:19:58 Hillary Clinton is HRC. The former president Bush are differentiated between 41 and 43 and Trump is 45 to many of his followers. Tom, good move or bad move? I think it's a great branding move. And also I think this is a little troll of Biden. Remember they created the office of the president elect? And there is no office of the president elect.

Starting point is 01:20:18 And they created podiums and everything like that because they wanted them to look official. They wanted him to say things before he was inaugurated and all this stuff. So I think there's a little troll in this, but I think for branding, I think this is, I, you know, I kind of like it. He's creative. You can't argue with the guys instincts from branding. Adam, I don't think there's any chance

Starting point is 01:20:36 that this was his idea. You're talking about someone who puts his name on every single hotel he's ever owned, golf course, stakes on his plane, on his university, and now he's 74 years old, he's like, yeah, let's just go with 45, that's fine. Something's telling me there's a branding expert that someone came in and said, look,

Starting point is 01:20:57 maybe your brand is a little tarnished, I'm not so sure you wanna just kinda do that. And let's go with 45. So if it were up to Trump, you know he would put his name on that. Do you like to get it? I like the picture they have here with the Teletubis. You know, that's kind of a cool picture. Teletubis.

Starting point is 01:21:11 Can you remember this? Is that serious or no? Are those colors serious on the right? That's actually on his website. Yeah, isn't that the Teletubis? I don't understand. Pat, why do you think he's going with this 45 office and not Trump?

Starting point is 01:21:26 Look, let me put it to this wave. There's a guy that understands marketing better than 99.99% of the world as a guy named Donald Trump, period. OK. He's not a guy to see as no clue what he's doing. This guy knows what he's doing. There's a reason behind it. What that is, we're going to find out probably

Starting point is 01:21:41 in the next 24 to 36 months. You're not going to know for the next 24 to 36 months. Having said that, having said that, let me go to give you the other side. So that part, I'm given the credit to the strategist of Trump, the marketing strategist that he is. Okay. If anybody thinks he's not a strategist, you are naive or you're a hater. Period.

Starting point is 01:22:00 If you don't think he's a strategist when it comes on to marketing, the picture's not the best picture by the way. But let me go on to marketing. That picture's not the best picture by the way. But let me go back to this. Some of these pictures that are coming up, man, on the website is cracking me up. Actually, keep it up, because this is good. This is entertaining. But I will say this other part, Adam,

Starting point is 01:22:14 if I can get your attention, I will say this other part. I'm going to say this, sir. The other part on why he may have done this intentionally is to give his kids the freedom because therefore ever going to be Trump, he wants to differentiate between Trump and 45. It's what he wants to do. He wants to be known as 45 is what you're going to remember him as. And he wants his kids to continue being Trump's border because they're going to be Trump's a lot longer than he's going to be a Trump. So he wants to give his kids, his grandkids, Baron, who's now at 7-5, he's about to pass a

Starting point is 01:22:47 minutiae. A bit more? George Bureson, you know, the way he's going. That could be the case, but my bet is this is a marketing genius. The world is about to find that in the next two years why he called it 45 office. I may be wrong, but that's what I think. But, I mean, this isn't nothing new. Obviously, the two bushes go by 41 and 43. That's sort of their moniker.

Starting point is 01:23:10 The late 41. The late 41 and the current 43. I do, I can appreciate the strategist mentality that he's likely doing and he's probably thinking of legacy and posterity and his kids and what'll happen with that. And maybe differentiating Trump, the businessman, and versus Trump, the president. I can understand that. But there is something within his ego that slaps Trump on everything that's like,

Starting point is 01:23:36 I don't know, I kind of done pretty well for myself. I don't think he does anything without a reason. Nothing without a reason. And you know what's really interesting is, you know, you always find out later. I think Pat, you're right. You're gonna find out in two years. It was interesting. Do you remember on Bill Marm and Colter was on Bill Marm

Starting point is 01:23:52 and they were having actually pretty funny conversation about the Republican candidates and there was like 16 total candidates. And everybody was assuming. I remember this interview with the president. Everybody was assuming Jeb Bush was gonna be challenged by Marco Rubio and that was the race and everybody else get all the way.

Starting point is 01:24:07 Remember that? And then Jeb Bush looked like warmed over dinner and Rubio never showed up. She predicted Trump at a lot of her. And she said, and Bill Maher says, and you have pretty good instincts in this from the conservative side. You know, who do you think is,

Starting point is 01:24:22 is got the, you know, got the momentum, is going to be here to run it. She says, you're not going to like the answer. So, of all these candidates, who do I think is got the juice to be inaugurated, to be nominated? Donald Trump. And everybody laughed. And members, she or I, including Bill Maher. And Claude Bill Maher.

Starting point is 01:24:39 Members, she turned her head like this and she's like, she understated. I kind of know what I'm talking about. She knew she was talking about the base of the Republican Party. And she also knew that who had a brand of message and momentum versus who is being nominated by just media because, well, if you're going to be a president, you have to be a politician. If you're a politician, you have to be somebody who's got the following jobs. And she was right. But everybody flipped out, but he drove that forward and she was absolutely right.

Starting point is 01:25:06 And so, I think we'll find out in two years what he's doing with this, but I never second guess what he's doing with the brand because he's never dead, he's not going away and knows what he's doing. You may not like it, you may not agree with it, you may not want it, but don't doubt it.

Starting point is 01:25:20 There's a purpose. Do you think he has slept in one day since he left office? Because this is like something guy who's Up and out of crack a dawn moving tweet and that that. Do you think he's like? It's had the most hectic five years of my I think so I think so I'll sleep it until noon. No, I think so don't wake me up, Melania. I think so. I think so because Because Melania probably made him or not made him like he listen they just take the you know they take the week of i i think so i actually think he did because i think this is a guy that

Starting point is 01:25:52 it's so funny to me when people underestimate a guy that's been competing go he's got seventy four years of experience and competition competing competing against the siblings, against classmates, against dad's legacy, against mom's swab, against Jersey, against Manhattan, against local realtor gurus that weren't wanting to give them the permit,

Starting point is 01:26:16 against politicians, against other billionaires, against other news, media. It's got to be competing for 74 years. You know how much experience has got on its resume? You should have its resume saying Donald Trump, resume. 74 years, competition. What do you want to do about it? That's why he's so obsessed with ratings.

Starting point is 01:26:31 Because he understands that ratings is competition. What you're saying people watching, where the eyeballs go. He's a competition guy, but he's not doing this because he's done. He's up to something. I don't know what it is. Clearly, that's what I'm asking you to be slept in one day.

Starting point is 01:26:43 Because clearly two days later, when you're saying you're a great one again. I do think he's slept in one day. I don't know what it is. Clearly that's what I'm asking you to be slept in one day, because clearly two days later, when you're saying you slept in one day, I do think he slept in one day. I do think this guy, by the way, you think he's a four to six hour guy? I don't think he's a four to six hour guy. I think he's a six to eight hour guy. Sleep yourself.

Starting point is 01:26:55 I think he's a six to eight hour guy. I don't think he's a four to six. At this space, I don't think he's four to six. I think he's six to eight. Oh, you're compartmentalizing how long? I think during campaigning was a four hour guy, but I think today he's a six to eight, and I think he's a daily napper,, you're compartmentalizing how long? I think during campaigning was a four hour guy, but I think today he's a six to eight, and I think he's a daily napper,

Starting point is 01:27:07 where he knows how to time his naps. As you get older, you'll learn how to refuel your body. You understand your body. Like your body's gonna tell you, listen, kick it today. I'm telling you right now. Yes, you may want to, you understand your body. Some people every day it's like that for them.

Starting point is 01:27:23 They're like, no, I understand my body. I gotta sleep nine hours a night. I'm not talking about that. I'm just on some people. Mario last night. That's not Mario last night driving, by the way. It's just phenomenal. You know what? I'm gonna give this video to get Mario shot. Because I didn't send it on Insta Stories, but I think it's appropriate. Should we do it or should we not do it? You know,'s, by the way, listen. Okay, no, listen, I have been part of a lot of prayers in my life. A lot. What are you laughing?

Starting point is 01:27:53 Here we have been. I have been part of many. How many great people have you heard pray? I'm gonna air drop this to tell me which one is it? Is it Sam VT? VT Studio I'm Mac, which one want me to send it to? Which one? VT Studio. Okay, I'm going to send it over there, see if it comes up to you. Is it coming or no? Take it. But before you pull it up, don't pull it up. I've seen many people

Starting point is 01:28:14 on my life pray. This was probably one of the most special prayers I saw. Yes, because you couldn't hear the words. A prayer such a strong prayer where a person's face is telling you what they're saying It was I looked at you yesterday when you were sitting at back seat you were crying you got emotional It was it was a tough spot for me. Let's let's watch that in Mario's method of a brain Play it. This is Mario's method of praying Make it and press the green button so we can kind of see the full spectrum of this go ahead What a prayer. Look at that. Look at that. Do you see it or no? Dear baby Jesus, eight pound, six pounds.

Starting point is 01:28:57 Yeah. Mario just so you know, Mario, we love you more than you would have. You know what Mario did there on April 4th, one of the best pranks ever. He sends an Instagram story saying, I have a new consulting gig. I have a new consulting gig. And he says, I have decided. Wish me luck. Wish me luck, you know. You know where to find me?

Starting point is 01:29:17 And you know what ends up happening? All the haters in the world came out saying, well, congratulations, that P.B.D. mother, you know. And so he started realizing which one of his followers are value-tainers and which one of them cannot wait. But there were some people that said, there's no end to world I believe this because you're Mario.

Starting point is 01:29:33 If you know Mario and his obsession with value-taming and his love for jokes, April freaking fools. You could have read between the lines on that one. Mario's a special guy? By the way, today I believe my interview with US Armenians is coming out today. US Armenians, the folks from US Armenians came out. If you can go to YouTube type in US Armenians, the interview is coming out today. I really had a good time with these guys.

Starting point is 01:29:58 That's a lot of good questions, a lot of strong questions. I mean, he was expecting me to be a very direct, the US Armenians go down there, go to their channel. Yeah, the interview, I believe, comes out today. It's a newer channel, and they're going around Instagram, blue up during the whole time with what was going on between Turkey, Azerbaijan and Armenia. But check these guys out of your Armenian. Go to their channel, give them a subscribe, give them some love. The interview should be coming out today. It's about an hour and we talk specifically

Starting point is 01:30:27 on the topic of Armenians. If that's not something that interests you, then don't worry about it. But if you are Armenian around the world, go check these guys out there doing a great job. And they've been in a media space for a while. They came here from Armenia to do what they're doing. Phenomenal job, these guys are doing.

Starting point is 01:30:39 Anyways, okay, next topic. I think it's important for us to go to a serious topic, which is this may be the most serious topic we'll talk about today. Adam was begging me all morning to start with the story. I don't want to start off with the story, but we are talking about Vladimir Putin is voted Russia's sexiest man alive, Daily Mail. Russian President Vladimir Putin, the man who was famously picture tapeless while writing

Starting point is 01:31:04 on horseback and fishing, has been voted as country's sexiest male. A survey of 2,000 Russian men and women found that the Kremlin leader's Russia's the most good-looking man in the country. The 68-year-old bachelor was the only man to reach double figures in the poll by job-bored site, super-job, one asked who was the most attractive man in the country. 18% of men and 17% of women voted for Putin. He insisted in 2018 that he was not embarrassed

Starting point is 01:31:31 about the topless snaps and said he had saw no need to hide behind the bushes while on vacation. So Adam, I think this is since you really wanted this story. Do you think he is the sexiest man in Russia? I mean, I think it's hard to not see the sexiness in Vladimir Putin. And if you don't disagree, don't drink that cup of tea that he just provided you, because there's likely poison in it.

Starting point is 01:31:55 So he's been the sexiest man in Russia for the last 20 years. Sexiest man alive. Sexiest man alive. Sexiest man alive. There was a competitor, but he's no longer alive, which means now. Yeah, exactly. This longer alive with me now. His name is no balney. He's the second place only for one afternoon. I think we took care of it. Are you really traveling home today? You may want to drive home today instead of traveling

Starting point is 01:32:18 from here and taking a flight because you don't want to call this guy on a podcast. He's probably listening. Go for it. Just so you you know Russian value team and channels got nearly a quarter of a quarter of a million subs now and our content being translated and Russian is doing very good and some of your content is Russian. So imagine if Putin's watched one of your case studies. Tom when are you flying back to Dallas? A week from Tuesday. I told you Mr. Real's word, you'd like to say. uh... a week from two uh... uh...

Starting point is 01:32:47 actually actually it's panam flight so you think it's the it's so over the top ridiculous when i think you the pictures of sam when i think of sexy i'm not thinking of a sixty eight year old balding pasty white somewhat somewhat flabby guy

Starting point is 01:33:03 that they didn't scream and sexy to me. So we talk about competition. Yeah. This guy's got no freaking competition. By the way, are you saying if you guys got into fight, you beat him up at 68? Do you think you could beat him up? I'm serious. Yeah, I'm looking to go viral.

Starting point is 01:33:17 So yeah, I'm challenging Vladimir Putin to a one on one horseback fight. Say, that angle you have right now is not necessary. Go look, okay, that's better. Okay um no we we do a better in the United States we have better examples I mean this is that's like base that this is the equivalent of basically America being like breaking news guys Bernie Sanders sexiest man in America that's the equivalent of what's going on what will you go to the site because if he wants you to go to that site, I don't know what he wants you to look at I'm gonna say how we do it in America. We do it a little bit different

Starting point is 01:33:50 Okay, got it. This is how we do it in America ladies and gentlemen This is how we do it that sexiest for you Sarah Palin. Well, I'm saying to some Americans Okay, go to the fake original. What is that the second one? That's hilarious. We're gonna go to that one that's a fake and original Right there, buddy. It's on the page. You got nine options. One of them says fake original go down. There you go I see okay, they're just playing. It's not even her. Yeah, got it. Oh, it's not even her somebody else got it fake Fake fake news. You can go back to the other picture with put I will tell you this It's like when Putin runs for election you get 90% of the votes I think you guys are missing a point I

Starting point is 01:34:28 think you guys are missing a point listen he here's here's the point and hopefully this will make sense to you do you remember in the 90s what Calvin Klein models look like 80 pound their eyes they're cocaine heroin doubt well especially the females I mean it was just like what like heroin chic yeah there's a, there was a joke. There was a joke. The joke was the diet, coke and coke diet.

Starting point is 01:34:47 Yeah, exactly. And am I supposed to be like saying, oh my gosh, she's so hot, she's so attractive. Look, she's dropped it. No. And then you had a different taste and flavor that showed up back in the days when Marilyn Monroe or Sophia Lauren were just talking about them earlier, right? It was a different way you said, oh wow, look at that.

Starting point is 01:35:06 You know, a lot of shuist, you basically saying you're a fan of Sir Mixelot? No, that's not what I'm saying, Sir Mixelot. Baby, God. Back. That, that, Let him finish his, I don't know. It's a poetry there, you know, by what they came up with.

Starting point is 01:35:19 I like big bucks. But I'm gonna take this, but here, who's what I'm gonna tell you? To Russia, They value toughness strength confidence swagger You fear it's a different level of attractiveness like in us. It's who it's Michael B. Jordan

Starting point is 01:35:36 It's Duane Johnson. It's Robert Downey Jr. George Clooney Matthew McConaughey is those guys right while in Russia They want guys like this. They want a guy to be tough. So in Russia, it may be that he is the sexiest man alive, to a Russian, he may be the sexiest man. If Ryan Gosling and him went on a catwalk, the room wouldn't be looking at Ryan Gosling. They would say, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, whoo, you know, Zrasvici Putin. Look at this guy. That was your vizier, Karashan.

Starting point is 01:36:05 You know what he's saying right there? You know what he's saying right there? You want a piece of me? Take a look at that. Yeah. He's looking down somebody, so you know, you're not the horse, really?

Starting point is 01:36:12 Yeah, kind of, you're not going to be the horse. You're not going to be the horse. This is probably what people, I like Putin is what they're saying. It's a little bit of Russian that I know. So, there you have it. So Adam,

Starting point is 01:36:22 are you satisfied we covered a story? So do you actually, would you vote for, if you lived in Russia, would you be voting for him? Or no, I don't think I'd be voting, I don't think I've ever voted for Sexy's Man or Woman of Life, but if they didn't have, does he have your vote?

Starting point is 01:36:32 I think he is the toughest leader alive today. That's what I would do. I would put him in my house, I won. Sexy's Man at my house, 18 years running. Oh, you won in your house? Yes, I did. 18 years' time. That's pretty impressive. your house? Yes, I did. Congratulations. 18 years Tom.

Starting point is 01:36:45 That's pretty impressive. Don't forget about the pool boy. Because you want to know why? I'm undefeated. I'm going to know why, Tom. Because you have no competition, bro. If you were a heads up competition, you're a household. So your say he's got an element of yelling in his house.

Starting point is 01:36:58 Just say, yeah, you need something. What a challenge. You're yelling like yelling like a challenge. What a challenge. What's going on here? All right. Okay, can we talk about the MLB move? Can we talk about? I'm going to go do pushups. Let here? Okay, can we talk about MLB move? Can we talk about I'm gonna go do pushups? Let's let's talk about let's talk about MLB moving the all-star game and let's see if fire is if we're gonna get some fireworks here

Starting point is 01:37:14 I don't know I think Fireworks us this topic. This is a political this is a political story. Okay, so let's get into it MLB moving 2021 All-Star game from Atlanta in response to Georgia voting law USA Today Story, major league baseball. We'll move its All-Star game out of Atlanta after the state Georgia passed, voting bills that will disproportionately, this is the story of USA Today.

Starting point is 01:37:34 Effect citizens of color and action, that commission of Rob Manfred on Friday set is, the best way to demonstrate our values as a sport, MLB's removal of one of its dual events, which this year will include the draft for the first time comes after a year in which the COVID-19 pandemic and the killing of George Floyd by Minneapolis, police officer called, caused the sports industry

Starting point is 01:37:53 to reconsider its influence with its society. A March 26th governor, Georgia governor, Brian Kamp signed legislation passed by both State House a Republican-led over-of-overhaulhaul of state elections rolling back voting by mail and other absentee ballot efforts and even banning the distribution of food and water to those standing in line to vote which by the way we're gonna verify that m.o.b did not specify to which city it roll relocated all of star game which due to its fixed date and loan spot on the sporting calendar, is its biggest corporate event of the year.

Starting point is 01:38:27 Give us your thoughts on this. I think it's, first of all, I think it's good when we're all taking stand together as citizens, but this is very political. I mean, there's a lot of small businesses in Georgia that may not, that are not on the left, they're on the right, they're just here, they're independent, and now they're going to be hurt, they were expecting hotel rooms, they were expecting restaurants, they were expecting a lot of things coming back for the summer, and there's a lot of small business men and people in that local economy are going to get hurt.

Starting point is 01:38:58 And by the way, where do you draw the line and being upset? Where do you draw the line and being upset? You know, what happened with George Floyd and the things that we have to do and the improvements and all the additional ground that we have to take so that everybody's got a chance and all these things are less prevalent every new generation that comes along is very, very important.

Starting point is 01:39:22 That importance is not diminished. But there's a lot of business people, and there's a lot of things there. The Georgia government does something, and both houses, and then everybody's upset, and now all these business folks get hurt. So I'm bummed out about it. But there's things underneath that are very, very important.

Starting point is 01:39:43 But I'm really bummed out that the political wave comes over like this and is going to hurt other people in the process. Yeah, I'm going to give you a couple different perspectives here. It's so funny because Florida always gets a bad name for just everything and whether it's politics, whether it's social, whether it's everything, it makes poor sports fans. And Georgia's this past year is just basically like hold my beer. We got this. Whether it was the elections for the Senate run and now this. Just a couple different sides of the coin here. So

Starting point is 01:40:12 you talked about the businesses being hurt. They said that a hundred million dollars is gonna be lost at the state of Georgia. A hundred million dollars by that. So that's the tax to Georgia. It's not the underlying revenue to those little companies. Say it again. That's the tax to Georgia. It's not the underlying revenue to those little companies. Is that again? That's the tax to Georgia. That's not the underlying revenue for everybody that sells hats, t-shirts. You're saying it's bigger than a hundred million dollars.

Starting point is 01:40:35 Yeah, the revenue to all the little business people and stuff is much bigger. According to CNBC, they lost a hundred million dollars. That's the, but. Did you just catch what happened right there like So when Thomas say a hundred million is just to the state there's gonna be a lot more money that's coming into the Small business. I'm a billion. That's billions. It could be potentially couple billion. Yeah, keep going By the way, it did get moved to Denver

Starting point is 01:40:56 I don't know if you heard that yet, which totally makes sense. Okay, so Obviously big blue state, so the couple different things here So if you have you have Brian the governor of Georgia, who got completely lampooned by Trump all throughout the Senate race, he came out and he said, this is disgusting. This is cancel culture of the highest hypocrisy. This is ridiculous. Like, let's keep politics out of the court. That's what's confusing about it.

Starting point is 01:41:19 What you just said will continue. Okay. Yeah. So keep sports out of politics, keep politics out of sports. And then you have companies like Coke, Delta, Uber, Lyft, PayPal, Under Armour, Estee Lauder. They all pulled out of it. And then obviously when they start pulling out, everyone else starts pulling out of that. But something that has actually manifested certainly during the pandemic and certainly during the BLM movement and social justice movement is that, you know, the

Starting point is 01:41:46 whole LeBron shut up in dribble, right? So sports stars and even CEOs are no longer just sticking to business. They are now putting their hands into social issues and into politics and they're kind of getting deeper involved other than just sticking to business. So sports players aren't just shutting up and dribble. Business people aren't just following the business and focusing on the money. They are taking a stand on social issues.

Starting point is 01:42:11 And whether you agree or disagree, there's just two sides of the coin. But sports, business, politics, whether you like it or not, they're all intertwined. And this is the culmination of all that, where the MLB All-Star game, where you're just like, look, it's an All-Star game, why are we making this political?

Starting point is 01:42:30 It's now all a big shit show. So here's a thing. Officially, we only have one sport left that has not been politicized. Only one. So now, I thought baseball was gonna stay neutral and independent. Now, there's only one sport out of the top four sports that's's no longer politicized hockey hockey is the only one NFL hardcore politicized.

Starting point is 01:42:50 Well, with all the NBA hardcore NBA's like far far far far. Politicized. And they have last names on their jersey. It's just too much now. Now you got MLB and then LeBron comes out and gives a shout out and says, Hey, great job MLB for standing up. So did Obama. So did a bunch of other people. And they're claiming that what Biden did in the interview with ESPN is gaslighting because he went up to him,

Starting point is 01:43:08 he says, I wanna applaud the MLB for standing up for themselves. And let's face, I mean, you trying to say, this is like Jim Crow, this is, you can't even give people water. I mean, what do we, we can't even give people water. It's a presentation. Biden is saying that you can't even give people water. He's saying it's under like Jimmy Carter. You can't even give people a bottle of water is what he's saying. So you can't even give people water. He's saying it sounded like Jimmy Carter. You can't even give people a bottle of water

Starting point is 01:43:25 It's what he's saying. So you can't go out there now. I wouldn't say okay. That's pathetic If you can't even give the people that are voting bottle water only poll workers now Let me tell you I got the article and I got it from Washington Post and heritage. Let me take a difference Washington Post hardcore left Jeff Bezos Heritage action Conservative hardcore right. Okay. I'm going to give you both of them and you make the decision for yourself. Okay. So let's go through Washington Post article. If you want to pull it up so

Starting point is 01:43:52 people can see the title of it on Washington Post, expand access, a historic restriction question mark. What the Georgia voting law really does. So go up a little bit to the main one. So how does the law limit go all the way up? Or it says, how does the law, there you. So how does the law limit? Go all the way up, or says, how does the law, there you go, how does the law limit voting? It shrinks the window of voters to request mail ballots. Rather than allowing voters to request mail ballots six months from election day,

Starting point is 01:44:13 the new law says voters can start requesting ballot, 78 days out. Okay, so you lost 90 days of asking for. Counties can begin sending ballots to voters just 29 days before election, rather than previous 49 days. It also sets an earlier cutoff date for ballot application requests. Critics say any male delays with these shorter periods could lead a voter not getting ballots

Starting point is 01:44:34 on time or not being able to return their in time, but proponents of the law say voters simply don't need the 180 days. They used to have to request ballots and that moving up the cutoff date makes it less likely voters will receive ballots too late to get them back in time to be counted. Okay, you can make a decision, say you like it, you don't like it, but that's one of them. Next, counties in the state can send mail ballot applications only to voters who request them as opposed to simply sending every register voter or ballot application and cannot fill in information ahead of time.

Starting point is 01:45:03 Next, if you guys got comments, comments, comments as I'm going through. No voter item requirements. Voters who cast mail ballots will have to provide one of several forms of identification. This provision which replaces the signature match previously used to confirm voter identities is one of the most controversial because critics say it's likely to disproportionately affect black voters. Like what do you say about that town? The fact that you have to show an ID and they're saying it's not fair to show IDs.

Starting point is 01:45:31 What do you say about that? Well, there are several forms of them. It's not just a driver's license because maybe your driver's license has to spend it, maybe you don't have it. There are several forms of identity. I can't comment on anybody who's analyzed it and say it's disproportionately going to affect one group of voters or not But it was several forms of identification. There is a list Yeah, so again, but that's one big argument. We'll come back to you in a minute. Oh, you need one of several forms have been and anything

Starting point is 01:45:57 You don't have to go in and get Coast care at an emergency room. Co who supports this decision decision with MLB, if you want to go to the annual co-convention, you have to show your ID when you go in. The level of hypocrisy on what people are saying here is basic ID for me to know who you are. It's not a big deal for you to show your ID. Voters don't have to provide a copy of identification, but could example provide a driver's license, number of social security, other acceptivide identification.

Starting point is 01:46:20 This is not a big deal. Next, a limit on the number of ballot drop boxes during early voting. It essentially limits the number of drop boxes in each county to one per early voting site or one for every 100,000 voters in a county, whichever number is smaller. And the drop boxes can't be conveniently spread over the county, for example, in places where there aren't in-person early voting locations. They all have to be located either in the county, election office, or at an early voting precinct location. They have to be indoors, which critics say make them less accessible and could lead to crowds

Starting point is 01:46:51 where voters are already congregated. Tom, you're shaking your head. That's ridiculous. Because what they're saying here is, let's put the boxes in a place where we can watch them and make sure everything's cool. And by the way, if this goes both ways, because either party will be screaming about this

Starting point is 01:47:09 based on who won yesterday, you know that. Of course, this is trying to put the boxes in a place where we know where it is, and the votes can be counted properly, and we want to put it in a place where it's less likely, you know what, we get a third, yeah, it's just, I think that's, I think that's really stretching and reaching. They're trying to say, here's the drop-up locations,

Starting point is 01:47:31 we're gonna put them here, here, and here, you know, we're talking to, that's their argument though, that's Washington Post argument, let's go to the next one. Short and early voting in runoff elections, instead of a minimum of three weeks of early voting in runoffs, early voting in runoffs will be held

Starting point is 01:47:43 in a single Monday through Friday period. The next one, state lawmakers get much more power over county and local elections. And Republicans have decisive majorities in both states, Senate and state house today. The law states that the General Assembly will select the chair of the state elections board rather than the board being chaired by the Georgia Secretary of State in elected position. The chair is supposed to be nonpartisan. The state election board can investigate county election board and has the power to suspend county elections, superintendents, though the law limits the state

Starting point is 01:48:12 board to suspending for at a time. You might remember Georgia Secretary of State, Brad, who became the target of his own parties, Iyer, after President Donald Trump asked him to find votes in the wake of 2020 election. This provision seems like a direct reaction to that, ensuring partisan state lawmakers can control the elections process more directly. Let's not forget, Kemp did not do what Trump asked him to do and Trump couldn't stand what Kemp did to him. So just five months ago, Kemp was a good guy, now Kemp's a bad guy, even though he didn't

Starting point is 01:48:41 defend. Trump was asking him to take, take, take, take, take, government didn't happen. Next, a ban on handling handing out food and water within 150 feet of whole plate or within 25 feet of any voter. Republicans say this is aimed at stopping outside groups from influencing voters. Democrats say it's supposed to make it harder for people to wait on long lines, particularly on how to call these election officials are permitting to set up water stations, but they're not required to do so. We're going to go into more details on the one from Heritage Action because they actually explain what that really means.

Starting point is 01:49:11 That means I've stood in line to vote for over an hour and it was here in Dallas and it was warm day. And what this is, you are not supposed to be approached by any person while you're waiting in line. Not partisan can give you water. Partisan cannot give you that. That's right. So if the League of Women Voters sets up a water station there so I can get water on the hot day, I can get water. No one's depriving them.

Starting point is 01:49:32 But what they're saying is, you know when you get out of your car and they say, excuse me, are you voting for this position or that position? But as soon as you cross like where the cones are, they can't talk to you anymore. You're now in a polling place and no one's supposed to be within so many feet of view. That's what this is about.

Starting point is 01:49:47 This isn't about the priding people water. We got four minutes, I wanna go through both of them. A few ways to expand voting. A minimum number of drop boxes is guaranteed. Camp has been arguing publicly that in rural counties that didn't have drop boxes in previous elections, this is an improvement. Drop boxes weren't allowed in Georgia at all before 2020

Starting point is 01:50:05 and not all counties had them even during the pandemic. While the drop, while the number drop boxes are so limited, it might not make a huge difference for voters. Campus correct that the law for the first time codifies requirements for a minimum number of drop boxes in each county. Phenomenal, that's very good.

Starting point is 01:50:18 Keep going up, keep going up, keep going up. Now the required, there must be drop boxes. And additional day of early voting in the rural counties, the new bill requires at least two Saturdays of early voting for each primary in general election. Previous Georgia law required only one. It allows counties to choose when their early voting locations are open for minimum of eight hours between seven a.m. to seven p.m.

Starting point is 01:50:36 reasonable. More resources for precincts, so lines don't get too long. The law basically requires a state to monitor polling locations to see if any have lines longer than an hour or still have voters waiting in line for more than half their polls were supposed to close in those cases the state is required to either form new precinct locations to ease the strain or beef up the existing polling locations capacities to handle large number of voters this applies specifically to populous precincts mostly in urban areas. Sounds like more opportunities to buy.

Starting point is 01:51:05 I agree as well. Here's what didn't make it into the bill. A block on Sunday voting, earlier proposals called for a ban on Sunday voting. This proposal was seen as directly targeting black voters who often vote as part of church run, sold a post effort that takes place on Sunday. This is a good thing. They can still vote on Sunday. They can all take a walk down together.

Starting point is 01:51:22 There's a good thing. Yes. A ban on no excuse absentee ballot time. Just turn off your ringtone. Just turn it off. Yeah. A ban on no excuse absentee voting. Georgia Republicans actually passed the bill in the state Senate a few weeks ago that

Starting point is 01:51:34 would have ban no excuse absentee voting. One of the most criticized, but on not uniformly agreed upon. Gioppi Porosolka. Okay. So that's Washington Post. Go to American heritage, go to Heritage Actions for America. This one's short, it's just two pages. Okay, myth versus fact, the Georgia election law.

Starting point is 01:51:56 Okay, myth number one, the Georgia election law discourages voting suppresses votes. Fact, the bill actually preserves or expands ballot access in several important ways. It requires that large precincts with lines more than an hour take hour long take steps like adding voting machines and election personal for the next election to reduce wait times. It does not change a number of total early voting days actually increases the mandatory days of early weekend voting compared to 2020, $2,324,159 counties will offer more early voting hours

Starting point is 01:52:25 in the future elections. Under the new law, it codifies election. Okay, we read that already. We just read that. Voters can continue to vote absentee with no excuse, unlike states like Delaware, which who's from Delaware, by the way? Isn't a guy named Joe from Delaware?

Starting point is 01:52:38 I think it's from Joe Biden's from Delaware. Voters can continue to vote absentee with no excuse, unlike Delaware, which is where Joe Biden's from, New York, Connecticut, which require an excuse to vote absentee. Myth number two, the Georgia law eliminates voting on Sunday to surpass African-American votes.

Starting point is 01:52:56 Georgia law was silent on Sunday early voting this prior to SB 202. And in 2020, only 16 at 159 counties offered early voting on Sundays, the new law explicitly provides the option of holding early voting on two Sundays for our locations. It actually increases the mandatory days of early weekend voting across the state. That's meant number two. Number three, there's only six of these.

Starting point is 01:53:17 So hang tight. The Georgia election law suppresses the vote with honoris, voter ID requirement. The law requires a driver's license or free state ID number, which 97% of Regents of voters already have. Anyone without valid ID can easily obtain one for free the voter ID requirement replaces the

Starting point is 01:53:36 state's controversial signature match program that led to this qualification of thousands of votes in 2020. The laws voter ID requirement for absent ballot is over one way with popular on Georgia across the board, according to A.C.A.G. siege agency at landed journal constitution the newspaper in downtown Atlanta in January 74% of Georgia voters supported including 63% of black voters and 89% of those making under $25,000 a year interesting so that data is not being written by Washington Post but now we know you can click on the link agency to go to it not yourself Sam the

Starting point is 01:54:03 audience if they want to do it not us us. Mid number four, the bill eliminates drop boxes for absentee voting. Fact, the drop boxes used in the last election did not exist a year ago. They were the first utilized in 2020 as a pandemic precaution. The bill makes them as an official part of Georgia elections and they will be available in 159 counties and under supervision to protect against tampering.

Starting point is 01:54:21 There you go. Number five, the bill lets Republicans throw out any county votes they don't agree with. The bipartisan state election board can do performance, review as a local election supervisors who failed their areas voters, with things like long lines and awful little apps and a ballot, the board will not overturn

Starting point is 01:54:38 election results. The law simply provides a process to review and ensure officials are technically competent compliant with the state laws. The process requires a high burden of proof. Someone's like, okay, okay, God. And then last but not least, mid number six, the bill bans drinking water for voters while waiting in line. Fact, like the countless other states that have very specific laws against election, election nearing near polling places.

Starting point is 01:54:58 Georgia has co-coded five rules preventing political groups from handing out food or water to voters in line as an incentive to vote, but specifically allows poll workers to make water available to anyone who wants it. The law will also directly cut down wait time, meaning refreshments for people waiting in line. We'll be necessary. This law didn't move the all-star game.

Starting point is 01:55:18 I was going to say that. Yeah, I was going to say that. This law did not move the all-star game. Joe Biden gas-slided and moved the All-Star game. I mean, that's what people are saying. That's the speaking issue. And everybody, and by the way, Coke and everybody else sees the world reacting, they want to be on the right side

Starting point is 01:55:34 of history, so they say, OK, we're out. Because they don't want to explain that something is misunderstood. They're like, no, I'm not going to get in the middle of this. If this is getting too hot, then we have to move. And we have to be on the right side of history. Look, even though this is really sad. The audience has the choice to pick and choose which article they want to read.

Starting point is 01:55:52 I give you both the book, and put the link below for people to go see it. If you can comment below as well, can you do that? Oh, you want to put it in the description? Put it in the chat box right now, so people can go to it if they want to go to it. But here's the point. What happened over there was so politicized,

Starting point is 01:56:05 that Atlanta, you know, Braves took a hit. Small business owners took a hit. Major hit. Fans took a hit. Huge hit. Massive hit. Why Rob Manfred already made a dumb decision a couple of years ago when the Astros did what they did

Starting point is 01:56:21 and he didn't suspend anybody. And he said, if anybody hits them, we're gonna suspend you. None of the Astros players got any kind of punishment the GM got fired or whatever happened to them Nothing happened there two years later. You're in a half late. He was saved by COVID everybody forget about what happened to Astros Okay, right except from some fans that are going on with trash, you know at the games still being None of these you're in a half later He does it again

Starting point is 01:56:42 And he is gonna bring back up the bad decision he made with the Astros, but he is using this as a way to win the journalists and the commentators that were trashing him, just a year and a half ago for the decision he made with the Astros, it's his way of winning some cool points, and he may win it. 100% but you just hit with the leak.

Starting point is 01:57:00 Maybe wrong, that's my thoughts. Adam, final thoughts. Yeah, no, I think this is the beauty of listening to the P.B.D. podcast is that we're going to give you both perspectives and you can do your own research to figure out what makes the most sense and what the truth is. But we're going to kind of give you both sides of the spectrum. And as they always say, if you have two different perspectives,

Starting point is 01:57:16 the truth sometimes is in the middle. And so go do your own research. I don't know if we have enough time to this kind of fits in with the sports and the politics to cover the Barclay stuff. I wish I did. We'll do your own research. I don't know if we have enough time that this kind of fits in with the sports and the politics to cover the Barclay stuff, but... I wish I did, we'll do it on Thursday. And Thursday is who? Who's Thursday?

Starting point is 01:57:31 Thursday we have a... RICKY RICKY! Oh, rickious here, Thursday, phenomenal. You're gonna be able to have some homework. I gotta go work out right now. I gotta go pups away. I mean, this is great. I gotta come straight.

Starting point is 01:57:40 If you enjoyed today's podcast with Tom Smash that subscribe button, Tom. Thank you for coming out Adam had a good time with you and Sam shout out to you Kai Ricky and no you're listening the chair is warm. You are gonna kill it here And if you haven't seen Ricky tune in on Thursday to see Ricky Ricky by the wind test we will have a metal detector before you walk in the building Do not come to track. You're so funny. You are so funny. Bring a thousand bucks.

Starting point is 01:58:06 Okay, care every time. No, you're just saying it to protect yourselves. Bye bye. Take care everyone.

PBD Podcast - Bet-David Podcast | Guest: Tom Ellsworth (Biz Doc) | EP 51

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