PBD Podcast - Home Team | PBD Podcast | Ep. 201

Episode Date: November 5, 2022

In this episode, Patrick Bet-David is joined by Tom Ellsworth, Vincent Oshana & Adam Sosnick, to discuss interest rates for 30 year mortgages, Nacy Pelosi's husband, the job market and much more... Text: PODCAST to 310.340.1132 to get added to the distribution list Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal bestseller Your Next Five Moves (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida. --- Support this podcast: https://podcasters.spotify.com/pod/show/pbdpodcast/support

That is wild. Anyway, episode number two, one Vinny just taught us something that's going on with vitamin Instagram. We can maybe we'll ask you guys for you to test it out as well. Got a lot of things to talk about. Yesterday our commander in chief of the world president Joe Biden gave a speech 26 minutes. I don't know if you guys had a chance to watch it. I watched it last night. We'll talk about that. Hikes fed approves another three quarters of a

basis point, which takes it high since 2008 and hints at change in policy ahead. We looked at mortgage rates folks. You're going to be surprised what the average person let's just say the average person. What is the average person's Ficus score? Give me a number for Ficus score. Seven, six, one, eight. Seven, twenty thing is average. That's like, that's a six on one. Okay. Six eighty, six eighty. Okay, so let's just say seven hundred, six eighty, fine. If somebody's got a six fifty Ficus score, you're going to be surprised by what the interest rate's going to be. We'll

look at the breakdown, Tom pulled it up this morning. We'll talk about nearly 40% of small businesses in the US fail to pay rent in October. Let me say that one more time. I'll scary that is nearly 40% of small businesses in US fail to pay rent in October. That's pretty scary to think about and why are they not paying rent? Shouldn't they be making money? Isn't unemployment the lowest? It's been shouldn't people have more money than ever before? Why are they missing out on rent?

40% of them. That's a big number. It's not a recession. No, it's not a recession. It's a big pool. Officials. Saudi tells US that Iran may attack the kingdom. We're looking to that. Twitter employed been sleeping on the floor as Elon Musk pushes tight deadlines. It's a very depressing environment over them. By the way, tomorrow's going to be a black Friday for Twitter. If

you haven't heard, I think they're gonna fire possibly 50% of workforce. And then you got some other studies that came out about drinking, about mosque, about White House, deleting a tweet. Vinnie's got some stuff to say about Paul Pelosi. We got a bunch of different things to talk about and to do that with us today. We'll be Adam, we'll be Tom Ellsworth,

and we'll be Vinnie Oshana. How you guys doing? How you feeling? I'm feeling fantastic. I tried to sketch? How you feeling? I feel fantastic. I tried to sketch yesterday where your kids and it was absolutely the craziest one hour I've had in the bag. Did they behave? Were they good?

The problem was I heard they had no suites. I don't want to give it away because we're going to post it tomorrow, but it was candy, kids, and then you say action and be crazy to say, all right, guys, cut. Go back to normal. It was. I saw a Mav who's one of our, you know, guys in the editing production, and he came back.

He's a very good looking guy. Good guy, he looked back. I'm telling you fast, defeated. Yeah, he's not having kids today. He was the day, he literally was like, I'm not having kids. Yeah, I said, a Mav, you're ready to have kids? Do not judge kids based on their David kids. No, no, no.

Very different climate. Yeah, Middle Eastern. Your kids are probably going to be like you, chill, easy going. So Maverick should have a lot of kids. Did he's kids? No, no, no, no, no. The mind is going to be like, what are you kidding me? You can't get him in this kid.

You can't get him in this kid. Yeah, it can. Yeah, it can. So let me say a couple things. Again, I want you to be thinking about. So we didn't really make a big deal about the 200 podcasts, because moving forward, it's not going to be 200, 300, I want you to be thinking about. So we, we didn't really make a big deal about the 200 podcasts because moving forward, it's not going to be 200, 300, 400. It's going to be based on subscribers at 500,000 subscribers. We're going to do a live, live

podcast that you'll be able to come attend and see it live with 200 people at our new studio that we've built, which is six. So stay tuned in about a week or two will be selling those tickets for people to buy because it's limited seating only And those who buy the tickets it'll be in for Lauderdale You'll be with us alive one week cross 500,000 subs We'll do live podcasts together with a guest or two or three or who knows but we'll have a good time Can we give a quick shout out to everyone that's working on that other studio? I mean for ridiculous Oh my god kidding me Jorge you got Rob you got Eric you got a bunch of guys that's working on that other studio. I mean, I'm freaking ridiculous. Oh my God. Are you kidding me? Jorge, you got Rob, you got Eric. You got a bunch of guys that are working on the phone.

I'm gonna pronounce a job. Anyways, let's get into it. Okay, Tom, so FET approves three-quarters of Basis Point High to rate, take rates to highest since 2008, hence at change in policy ahead. This is a CNBC story. In a well- well telegraph move. The markets have been expecting four weeks.

The central banks raised its short-term borrow and rate to three-course of a point, to a target of 3.75 to four points. The highest since January of 2008, to move, continue the most aggressive pace of monetary policy tightening since the early 1980s. The last time inflation ran this high, the new statement hinted at the policy chain saying, when determining future hikes,

the Fed will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation and economic and financial developments. Economists are hoping this is much talked about step down in policy that could see a rate increase of half a point in December meeting and then a smaller few hikes in 2023. This caused the market. They announced this late and a market tanked.

It went from being down 20 points to being down 500 points within literally, I think, 30 minutes or so. So Tom, when you see this, what are you learning with this rate hike they announced yesterday? Well, what you have to remember is, when they say what, when the typical person reads well telegraph, what that meant was the banks that make the mortgages were expecting this.

Because remember, the mortgages move with the bond market and the mortgage-backed securities. What the average person needs to understand is that the interest rates affect those first then the mortgages so the mortgages about a week ago were sitting there like seven point three seven five which is seven and three eights to seven and a half

is where they were and this morning i went in there and i looked and i said what are they adjusting because they had built in some of the three quarters of a rate increase, but what they heard Powell say is there's probably another half point coming in December. And so that moved things this morning, and I looked it up. If you're a person typical in the United States, we were just talking about this. Pull it up. Type in and Google mortgage rates.

Yeah, mortgage rates today, and you'll get the... And by the way, Tom, you have to realize this three quarters of a basis point increase doesn't take into effect with rates for another week or so So people gonna see an increase next week. Maybe the following week. Yeah, so go ahead. Perfect. This is it right here Now move the credit score just take it down to 68690 7.891 you are knocking on eight now. let's say I've got a little bit of credit card debt and I've had things going on during the pandemic, just take me to 650, not any more than that, but just right to 650.

8.327. So the banks are drawing a line if you are below 650 right now, which is not horrible credit. Below 660, if you're below 660, you're saying 670. Not horrible credit, you are at 8 and 3H, 375. That's where you're sitting right now,

which means this is put it in perspective, now we're talking rates and everything, let's put it for the typical person. You bought a house, Vinnie. Last March, say for half a million, 3.5% loan, your payment was $1800. Pretty reasonable. That's my rent now. If you try to buy that same house right now, $500,000 house, $400,000 a loan, and you go out and you get a 7.8% interest rate, it's $3,000

payment on the nose. $1,200 more. Which means, and if you said to your bank, but I can only afford $1,800, and they said, okay, that's fine. Just go find a house that's worth $310,000. Oh, wow. Do you see what just happened? For your same 1,800 bucks with that interest rate. So that is a, ladies and gentlemen, a 40% drop in buying power for the American consumer. It's real. This is not speculation, this is not patent time

talking about the future. This is reality right now. So if your job is moving you to another area, people have said in the comments, well, what do I do? What's in it for me? What should I do? If your job is moving you from one part of the country to the other, first of all, you're

going to have to discount your price on the house you got right now. It's probably up a bit. Get out from under it and then under consume housing on the other end. Get yourself a lease and get small space. Make the kids share a bedroom for a year and a half, two years, and that's how you're going to have

to weather the storm. You don't have any choice on it. Go lease, lease less. Don't let your pride in your generation. You know it's crazy time you're saying this. You'll be back. You'll be back. But just surf it out.

I got it. So I get it. Anytime we talk about things like this, a lot of friends and family and people that follow the content that are loyal to it who are in the real estate and mortgage business, they messaged us. Listen, and here's how it all starts. Pat, I love all your content. Except you've been going

after us realtors for too long, man. And this is like not cool. And I'm like, look, I understand you're not happy by what we're talking about, but here's what I will tell you with the current messaging that we got going on. This is here because of printing fake money for too long. Yesterday, Tom and I are talking, I said, okay,

when is the next time rates are gonna be around 5%? Okay, so we're actually doing the math together. So then we pull up and we say, okay, how long is this guy gonna be in the chair of a fat Powell? Well, he got elected when May of last year, may of this year, 2022 buy a Biden because you need because he't, he doesn't really report to the president, but you need the president in a certain amount of people to get him to say we want you to stay as a chair of Fed, right? Senate votes him in. Yeah, the Senate and President Trump administration was.

He was. He was. He was reelected. But the point is, the point is reelected, not elected, right? He was, he was reelected by Biden. So Biden kept him in. So this is not a Republican or a Democrat type of guy This is a guy that both of them are like dude. He's not listening to me. He's not listening to me What he does have the veg. It's shoot me. You're right. So he doesn't take counsel from Trump

He doesn't take counsel from by independent. We like that. Oh, yeah as the consumer believe me We don't have enough people like that. Yeah know when his next term is going to be up? It's going to be May of 2026, which means the next time rates are going to be at around 5%. It's probably going to be Q3 or Q4 of 2026 if that. And this 6% above could stay for a long time, and that can become the norm. Here's a challenge. This morning I was looking up an article by Wall Street Journal. I want to send some of these pictures to you. And I don't know if you guys knew this or not, but federal reserve has assets and liabilities.

Okay, they have both assets and liabilities. On their balance sheet. Basically the fourth branch of government. If you want to think of it. So you say as they buy their own, they're like their own company. They're a company. So Tyler, I'm going gonna air drop this to you if you can pull this back goes down to the premise of quantitative easing quantitative tightening that's how they kind of

I'm gonna start my nose is gonna believe but quantitative easing but typically typically what they've done they've stayed very neutral it's been very neutral so all of a sudden when they start if you can pull this up I don't know if you see it or not if if you got it, I want to show this. It's very insightful on how the Fed works. Pull up all three of them if you can. So go to the first one I sent. Okay, zoom in a little bit. That's the balance sheet, the other one, the balance sheet of, yeah, the balance sheet of the Fed. Here's what you're looking at. Zoom in a little bit if you can or not or not. So, okay, here you go. On the asset side, they have $5.61 trillion of US Treasury securities. T-bills, T-bills, exactly, short term bills, okay?

And then they have $2.69 trillion and mortgage-back securities. That's the MBS I talked about. That's right, that's what you saw in big shorts. So, again, $2.69 trillion mortgage-backed securities. Is it the same way to explain time like a reinsurance, right? Like how Munich reallotted these smaller insurance companies. They go to a Swiss re and they're the insurance,

the reinsurance that's backing them up. So 2.6 trillion dollars. It's the jenga scene from the big short. Yeah, yeah. Good ones, bad ones, and... Triple B. It's right. And then other that have 0.48 trillion, the jenga scene from the big short yeah good good and right and other that point for a trillion which means that roughly eight point seven eight trillion dollars of

assets now liabilities currency and circulation which is interesting because currency and circulation is two point two eight trillion dollars okay reserve balance three point zero four trillion dollars and other is another 3.46 trillion dollars for toll of 8.78 trillion dollars, okay go to the next one. This is the scary part of what's happened to them

Go to the one prior to that. I just showed you. Yeah right there. So the earnings of federal reserves sent to US Treasury for the last 12 years, okay, if you look at that, this is the first time they're in the negative. How is the Federal Reserve in the negative? Do you realize, for 11 years straight, this is very interesting fact. For 11 years straight, the Federal Reserve has netted four to $10 billion every month. Let me say that one more time.

Every month to reserve, the Federal Reserve has netted four to $10 billion, except for this month. Look what happened right there. Boom, drop off. And then something bad happened. Yes, and then if you go to the other one, I sent you, I don't know if you got another one or not, there was a third one I wanted to show you,

which is very, very interesting when you look at this. I'm sending it to VT MacBook Pro, so it just comes straight to you. I don't know if you see it or not, if you got it, there you go. If you can pull that up, check this out. So this is how it looks. Okay. The green, if you look at this, the green is treasury securities. Cool. The light green is mortgage backed securities at the top. The dark red is currency in circulation and the light red is bank reserve and then white is other, right? Go prior to 2008 prior to quantitative easing. It's very

normal. Not a big deal. They don't get involved. They just kind of weren't there. They didn't do nothing. They were not manipulating the market. They were not manipulating the economy. And then they say, there is this thing called quantitative easing. Let's get involved. So they got involved. Oh shit. Okay, now we're in too deep. And in 2020, oh shit, COVID.

Oh, what are we doing now? Now it's like getting off of this. This is why when people sit there and they're like, no, this is not going to happen. Realistic, it's not going to take you. There isn't a better definition of fake success for this many years. And Powell, who right now has got a very, very hard job because anybody that's hated by Republicans and Democrats is probably the most honest man in America.

Okay? This guy is not the right, by anybody. No one likes this guy. The left doesn't like him, the right doesn't like him, heck, the people in the middle are confused. They don't know if they like this guy or not. But all he's saying is, guys, we can't go like this for too long.

Somebody like me that doesn't, I mean, Tom has sheets. He's gonna have a bullet point presentation in five minutes. I don't know, for somebody that doesn't know, so when they printed all this money, now they're hiking up these rates, Tom, because they want to make their money back. Is that what it is? And we're all suffering because we're not in a recession, but we are in a recession. How would you explain to somebody of how they can hike up a percentage from mortgages, and we're going to be suffering because they fucked up?

So what happens if inflation goes high, who's affected by it? We are. Everybody. Everybody. Everyone but the rich people, as they're called. Rich people affected by it. Like, they'll be alright. Are they? They'll be just fine. They'll be fine.

They're not, they're not decimated by it. He's right. Zuck lost $100 billion. Yeah. But he's chilling. Yeah. By the way, a lot of these guys, these big, big, big billionaires that I'm talking to guys that were worth $50 billion and up, $100 billion and up, you know way, a lot of these guys, these big, big, big billionaires that I'm talking to guys that were worth 50 billion and up, 100, 100 billion and up, you know, this year,

they've lost roughly a half a trillion dollars of wealth. Okay. Well, that's because during 2020, they gained a 10 trillion. Well, it's something ridiculous. But exactly. But the point is, that's should, that's normal. That's okay for that. These, these billionaires are going to be okay. But all I'm saying is the is, the guys that went up and made that fake money because of COVID, that money is gradually disappearing. Gotcha. Okay, so if the average person cannot go out there

and say, dude, how the hell am I supposed to be paying for this stuff? That is not good for anybody because if they can make their bills, if they can pay their bills, then crime goes up, then divorce rates goes up, then drugs goes bills, then crime goes up, then divorce rates goes up, then drugs goes up, then alcohol goes up, then everything goes up. Now you have, I mean, I have a bad situation here. So they got to figure out a way to control inflation

and unfortunately, feds cause this mess trying to fabricate the economy from dropping the way they didn't await. Now they're trying to kind of backtrack. It's kind of a shitty situation there. I just realized something. I trying to kind of backtrack. It's kind of a shitty situation there. I just realized something. I just went into my back pocket. I think we're good because the power ball is 1.5. I got 10. Okay.

I haven't even looked yet. We have nothing towards it. We're good. We're good. Wait, who's the winner? Was the winner in Florida? Where? Because I'm not looking.

No, I have anybody. I have bad news, bro. What? You didn't win. How do you know? What are you a psychic? Tom, Tom, you didn't win the bill. Don't break yourself.

I'm a happy with one thing. Yeah. And for the average person to understand, and the average person on the street, you can explain things in simple terms they would know. I put the, that chart back up, the, the link chart was extending. That one.

So just look at a picture. Okay. Look what was happening the last two years of the Trump administration. He was trying to address this. And do you see how it was squeezing back? Yeah, yeah, yeah. It was about to squeeze back in

because the Trump thinkers knew that we needed to get back to pre-2008. And the policies they put in, take a look. Yeah, you're right. They were squeezing back. And then the whole thing goes off rails with COVID and we printed money. So you can say what you will that you should never leave

Trump alone in a room with your daughter, which I agree with. But I'd love to leave him alone. I'd love to leave him alone in a room with the economy because good things appear to be happening. And you have to take a look at that. And you have to give credit to the administration that was there. You don't have to like Trump. But if you look at the picture, you have to look at the picture and say,

what were they doing? They were trying to start a trend to get back to the center line of financial sanity so that wouldn't be the interest rates. And it wouldn't be the inflation happening to the average American. And now, the best analogy I have for it is when you get cancer chemotherapy sucks But why do we go through chemotherapy and radiation because it'll kill the cancer right we are going through increased interest rates and other things that the Fed is doing Because unfortunately that's the cancer cure for inflation and it sucks and we all have to get through it together and That's the cancer cure for inflation. And it sucks and we all have to get through it together.

And all the analogies are there. You may lose your appetite, you may lose your hair. But this is what we're gonna have to do to get the economy to come back into a center of thing. And it sucks most of all for middle class people. And do you guys think like a political shift would start changing that the other way? Like if a Republican went in, the Santa, whoever, shift would would start changing that the other way like if a

republican when in the sand whoever is that gonna start changing the politicians have the theological view of the economy like this then that helps okay i'll uh... i'll try to extrapolate and break it down so you posted something on your instagram day regarding uh... milton freedman actually watch it multiple times i think it was very telling.

And then we've talked about the steroids analogy as well. I'll try to kind of give an analogy, break it down, and then what basically everyday people should do. So Pat talked about Milton Friedman basically comparing alcoholism and getting drunk to printing money. And essentially that there's short term and there's long term benefits of stopping drinking. Like if you're an alcoholic and you stop drinking,

like short term you're gonna go through withdrawal seizures, all the sweating, the disgustingness, but long term you're gonna be better, right? Same thing with steroids, if you're on steroids just like printing money, if you're on steroids and steroids short term, your body's gonna just, like, what the hell just happened here, especially when you stop using steroids,

but long term they'll be good. That would look good for a minute. Exactly. So the same thing with printing money, is that if you're just printing money, okay, short term, everyone's got money, this is great, the economy, but long term, it's a mess.

And so, exact opposite situation when you stop printing the money, short term, there's going to be this nonsense that we're seeing, right? But long term will be better. So, that's essentially the macro perspective on printing money. It's not good. I mean, we talked about it all the time. The more money you print, you can you pull up the Milton Friedman clip.

Yeah, I think it showed up. And was there a printer? I think that's a great word. I think the printing the money, Adam, don't forget your thought. The printing the money during the Milton Friedman clip. Yeah, I think we can show that. Was there a picture? I think that's a great word. And I think the printing the money, Adam, not to forget your thought. The printing the money during the COVID, I understand. We needed the people needed the money, bro, especially. All of a sudden L.A. acting, everything comedy done.

We needed it, but they've continued to keep paying people number one. And then we spent how many trillion did that? That's what you mean by printing more money? Yeah, of course. I mean, under trillion dollars, CARES Act under Trump was 2.2 trillion. And Biden came in with a whole situation. He printed more than one trillion, but stop printing money

as it flows to the rich people. The question that you asked, when you asked Tom, Tom said, Trump tried to address it, the economy at the end. He says, you know, you may not trust him. What did you say? You may not trust him in a close room with your daughter, but you could sure trust him with the economy in the attic, in the right direction.

So, love him or hate him, that's the truth in the stats. Look, look, when you think about like somebody who comes into you buy small business, and there are people that buy businesses that are struggling businesses. There's a model, these are people that come in and say, hey, you're dying, you're struggling, but it's a good business, it's a good product. You just are come in and say, hey, you're dying, you're struggling, but it's a good business.

It's a good product. You just are making some bad decisions. Operators are bad. There are people that target businesses like that. The first thing they do when they come in, they look for wasted expenditure. They get rid of it. They look for wasted hiring. Like Elon today's tomorrow is said to be firing 50% of his employees, okay?

He's an operator, he comes in, he's letting go 50% cost, expenses, you know, whatever he's doing with the verification, AOC's not happy about it, he says, no problem, you don't like it, thank you for your input, but now pay $8 a month, right? So he says, and then he explains to the other guy, who was the other guy that was on that's like, yeah, I can't believe your charging $8 is, listen,

you have to figure out a way to run a business, we got to make some money. That's what you got to do So a logical think or like that can fix this economy in no time Logical thinker can fix this economy in no time. Yes today Biden speech You know what Biden speech was the first thing he talked about so you know how when you're doing a video on YouTube What's the most important part of a video you put on YouTube? So most important part of a video. First three seconds. First three to five seconds. If you don't get them, the first three to five seconds, you'll lost them. It's over.

It's over. It is so important on how you catch my attention. You know what's the first thing he talks about? What? The first thing he talks about is Paul Pelosi, okay? And the third to them. The hammer. And then talks about the mega Republicans and talks about

Elections like you know the whole message was around people that are gonna question the elections and You're sitting here like okay rates just went up three quarters of a basis point yesterday Okay, the markets where it's, people are concerned and the only thing he wanted to talk about was elections for midterms, the entire time in Papalosi, 23 minute speech, 22 minute speech, whatever the timeline was, that's all he talked about. And now they're saying that the elections, midterms that are coming up don't expect real results for a few days. And then Brazil, did you guys see the guy that won Brazil?

Can you pull up the picture of how many people protested in Brazil? Yeah, have you seen the picture? Yeah, I'm even like the Iran protests. How many people go to Brazil protesting? This socialist who's a criminal who won, do you know who's getting involved? Do you know who's getting involved to say,

you can't question the election results? USCIA, the director of CIA here, one of the leaders of the CIA here, went to Brazil to deal with their elections. And now America is saying, it's a fair election. We can't say anything about it. And the voters are saying, no, I don't know if you count on my votes or not. So here's where you go with it. If somebody is sound, who's coming in saying a logical thinker who can sit there and actually

come up with policies that are good, this can be fixed in four years, the economy. It's not going to take one year. It's not going to take two years. It's going to take four years. And you don't just do it suddenly. It's got to be very, you know, a methodical way of you doing it. And Powell's trying to do it. He's doing his best to do it.

It's not easy what he's doing right, not it's a terrible job that he's got. But the challenge more importantly is, we don't have the right leadership right now to fix this economy because what they're thinking about is midterm elections, Paul Pelosi and dividing America and more pinning everything on Republicans.

Knowing they're afraid that potentially, they could lose New York, they could lose Arizona, they could lose all these states, they are so scared that they're saying, we they could lose New York, they could lose Arizona, they could lose all these states. They are so scared that they're saying, we need two, three days. Look, you know when you have a friend or you're dating a girl, you're dating a guy,

or you have a business partner, if a person is sitting there saying, dude, I'm telling you, you know, their cons is saying, I would never do that, I would never do that, I would never do that, I would never do that, I would never do that, maybe you would do that, you know, their consis said, I would never do that. I would never do that. I would never do that. I would never do that. Maybe you would do that, you know, or somebody who is keeping a area that they don't want you to look at. You can look at anything, but not that. We can talk about anything, but not that we can talk about anything. Nothing to see here.

There's nothing to see here. There's definitely something there. So so when tell you, there's nothing to look at with Brazil elections. There's nothing to look at with midterm elections. There's nothing to look at with this. Listen, man, I have a hard time trusting any of these politicians that taxpayers are paying because they think America's theirs and America's the people's country. That's what it is.

And I think more Americans today are still to realize this bullshit. So go on back to the economy side. If the right person's operating America, we can fix this. Unfortunately, we have a hard time with the current person that we got because I don't even think he cares about the economy. I don't think he cares about the economy.

I can't say he doesn't care about the economy. He cares about the economy. I don't think he cares about the economy. He understands the economy. I don't think he cares about security. I don't think those three things are priority to him. I'm being generous. I don't, and how do you say he doesn't care about the economy?

I don't think those three issues are in his top five issues. I don't think he puts, puts economy security border in his top five issues. I'm not gonna fight you on the security in the border because we can obviously go down the rabbit hole here. If there's a US president that doesn't have the economy in their top three, I don't care who it is, left, right, up, down, green, purple,

they have to fucking miss in the boat. But by the way, you're right, and he is missing the boat. I don't care who it is, left, right, up, down, green, purple, they have to fucking miss in the boat. But by the way, you're right, and he is missing the boat. I don't think he cares about the economy. Because I mean, I have a hard time believing they doesn't do hair, George will, who hates Trump. I agree. Who hates Trump?

But ultra conservative. But ultra conservative. It's very important for you, that the fact that you said that. So listen to yourself. George will, who can't stand Trump, can't stand the fact that Bill O'Reilly wrote a book called Kill and Reagan and went after Reagan. Cannot, if you want to see a shouting match, go watch George will bill O'Reilly.

But he cannot stand Trump at all. You know what he said yesterday? George will begs. If he can show this on the screen, so the viewers can see it. George will begs Democrats not to run Biden Harris 2024 and risk America to Trump in scorching op-ed. You know why? Because he knows these two guys could care less about the economy. And maybe a top 10 issue, it is not a top five issue for them. I think it's like one of those things when you wake up in the morning, you're like, yeah, I gotta have some breakfast.

I gotta have coffee. That's in your top five. Working out. Oh, not in my top five. I'm in my top 20. I'm gonna skip it today. Coffee, top three. You think economies, top three,

and this guy's daily issues when he wakes up, hell to the know. If it was, he would have talked about it yesterday. It's not on his mind. Well, he's pandering the voters right now. Whatever you think. He's pandering the voters. He's gonna talk what he thinks people wanna hear to know to drive the base to the polls.

That's the point. Can't talk about the economy right now because the economy's shit. But he doesn't realize. So if you and I right now, if you got a big ass cut here, your leg is broken. Like literally you just broke your leg. And I'm telling you, so what do you think

about what happened with the Lakers yesterday? The Republicans, what do you think about your leg. And I'm telling you, so what do you think about what happened with the Lakers? Yes, the Lakers. The Lakers. What do you think about it? Yeah, I'm ready to play. I'm just seeing that pass from Russell Westberg. And like Pat, my leg is broken. Dude, who cares?

They won yesterday. It's freaking awesome. The Lakers won. You're like, dude, my leg is broken. So America's saying, my economy's broken. You're talking about that elections are not going to get the real results for three days. What the hell are you talking about?

No, he has not clue. They're already got me. That's messaging now. That's messaging now. No, it's called it's called lack of interest in the economy. It's not messaging. Adam, there's some lack of interest in the economy. You have to go on that this is the way the left views the economy.

Print or tax or regulate. And the guy who's on the far side of tax and regulate, that's Bernie Sanders. I've now described you what the far left looks like. Ultra regulate, ultra tax. And then over here, print, just print the stuff. AOC has even said, we should do, this is why not print another 1.1 trillion. If it helped all the people then print another, they don't understand that there is a piper to be paid and it is the federal reserve balance sheet they on the left they don't think that no but okay i fear i i hear what you're saying but bernie sanders and a rc don't have

anything to do with the fucking economy thank god talking about they're not doing anything i agree with you they're not they're not paul vulgar they're not you know is that's how that is the that's not the people touching the economy. Adam, they wish they could. That's correct. They don't. They don't.

They don't have the number line of going to the left of how they approach the economy. You tax it, you print, you regulate, and go take a look at what happened in Greece 10 years ago. Go take a look why there's conservative leaders getting elected in Europe because if people know it doesn't work, what's going on here in Brazil is all connected. If you've heard about international economy and they talk about BRIC, Brazil, Russia, India, China, as the four biggest economies outside of what have known as the Western Democratic economies, Australia, Japan, UK, EU, United States, Canada.

Well guess what? The B in brick is Brazil and the globalists do not want a conservative right-turning Brazil. That is what is happening here. This is all aligned on the globalist left-line thinking. It's all connected. To me, I see a picture coming together very rationally, and that's why you've got George Will stepping out like this, going saying for the good of the Republic, let's not go here, and he does not sign up to MAGA or Trump or things like

that, but he's saying, let's not go here, please. No, so he's right. So Democrats have rarely. The last Democrat president that cared about the economy as a top five on his list was Clinton. Okay. Well, that's the last time that someone actually had a good balance sheet. But the last president was the- He's closest to balancing the federal budget.

He had, let's not downplay this like he was all by himself without the help of Newt King Rich and he was a man of your time magazine, 19. Let's not forget like what he did. So everybody typically says Clinton, nobody gives a credit to Newt Newt King Rich and he was a manager time magazine, 19. Let's not forget like what he did. So everybody typically says Clinton, nobody gives a credit to Newt Newt behind closed or it's one of the shepherds. Yeah, because his name is Newt.

Correct. Who the hell wants to get a new? Your name's Newt, one of the sharp, he was a time magazine manager by a liberal magazine named a far conservative right man of the year. And remember the economy. So, but going here, 12 years at left.

The last time this happened, the last time it happened, the last time it happened under Democratic president was a Bill Clinton. Democrats don't wake up in the morning with their number one priority being, you know, economy. Biden said multiple times, the most important issue today is climate change, the most important issue. It's not, it's not economy. They don't think economy you think economy the average person thinks economy They don't think economy. They're trying to sidetrack you and confuse you from what economy said it towards Look, can I give just a little a little a little my two cents? I happen to think I don't know if I'm right or if I'm wrong

If if the economy's not in his top three, he's completely missing the boat So I don't know what's in his brain half Fuck, he doesn't mind not knowing what's in his brain. He doesn't know what's happening. Exactly, but if he's not meeting with his economic team on the regular Janet Yellen and the whole squad, I mean, you're missing the boat here. But here's my final point. This is great.

We're having this macro economic talk. That's awesome, amazing. There's things that you can control as there's things that matter. So this matters, but we have no control. When I say we, I don't mean people with mouthpieces like we actually do have a little bit of control. I'm talking about the average viewer out there.

You know, there's a famous saying that don't fight the Fed. You've heard this saying before, don't fight the Fed. Meeting like there's nothing you can do about the motherfucking Fed. Sorry, not gonna happen, but what can you do? So two years ago, it's crazy how things can change like that, Davos Switzerland, two plus years ago. Ray Dalio, you've interviewed him.

He sat down and he gave a whole big speech. This is like a month before COVID. And the famous thing was, what? Cash is trash. Cash is trash. Two years later, 180, what is he saying now? Well, guys, my bad. Hey, turns out cash pretty good. two years later, what is he saying now? Well, guys, my bad.

It turns out cash pretty good. Caching trash, cash is king. Okay, so what can you do about it? There's nothing you could do about higher credit card rates. There's nothing you could do about higher mortgage rates. There's nothing you could do. What do you mean you can? But you can.

Well, hear me out and then you tell me. I want to hear what you say. There's, I mean, whatever the Fed fund rate is, what is 3.75% to 4%, there's nothing you could do about that. What you can do if you're listening and you're watching is stack cash. And when there's a right moment and a right opportunity,

you can seize the moment, carpe diem. However, everything that the Fed is doing unless you're super, super, super creative, and that's what I want to hear your response, like you're not going to do anything to, you know, quell how high interest rates are going. There's nothing you could do. You stack cash, you maybe you get a higher check ticket.

You're going, you went from one subject to a complete different subject, okay? So we were talking about the economy being a priority and you're saying, how could you say the president's priority is an eye economy? It's not, it's not in his top five. I can just walk. I'm just wide-period. What you're saying is that the average person watching

is you can't do nothing about it. So, you know, tune out and just go to your thing and try to stack some things. I'm saying when it comes to your money, there's nothing you could do about interest rates. I was very clear. You can't fight the Fed, you can't change it. I think long term, long term, you can with the way you vote.

You can with the way you raise your kids to think about money in a certain way. You can with the way people think about fiscal responsibilities. You can with going back to common sense. You can with going back to teaching math. Do you know what's the one thing I judge a parents on? I look at a parent, the other day I sat on,

we play a game with our kids. Here's what the game is. For every parent that wants to get their kids to get better in math, just the game we play. We're at lunch. Here's how the game goes. Let's play it in matter of fact, all five of us are gonna play right now.

The four of you, I'm gonna play with you right now. You ready? Audience, you can play this as well if you want to. We'll go with Adam to make it easy, and then we'll go, you're gonna be the hardest one because I'll start. Yeah, Vinnie, Adam, one times one. One.

Two times two. Three times three. Tom, John, play against four times four. 16. Five times five. 25. Six times six. Seven times seven.

49. Eight times eight. 64. Nine times nine. Ten times ten. 11 times 11. 12 times 12. I don't know.

Okay, 144. Yeah. But wait, you want to know formula that's going to make it easy for you for the rest of your life. Okay, 12 times 12. What's the easiest way to figure out the answer is 144. You take 12 times 10, which is what? 12.

Okay, then you take two times 12, which is what? 24. Here's your 12. Here's your 12. Here's your 12. Here what? 24, here's a 12 plus 24 plus 120 is what? 24 plus 120 is 140. 144, you only have 13 times 13. Fuck me, 166. 169, 14 times 14. 14, 180, four, 180.

So you're right, 140, then take 4 times 14, which is what? 4 times 14, do 2 times 14 is 28. 28 times 2 is what? What's 56? What's 56 plus 140? 196 is, what's the next one? Go, you're at 14 times 14. You did 14 times 15.

25. 25. 25. 16 times 16 You guys by the way, the point can I say something? No, so half the audience is like dude, that was sick. Pat just like broken down. I got a lot of audiences like these people are fucking I'm just in a lot of the other.

I let him I want to make a point here. You know what happened? Yeah, we're doing this Sunday night. My nephew was their son. Okay? Great catch. Jennifer's sitting next to me. Mario's sitting next to me here. And I'm not even talking to Jennifer and I'm not even talking to Mario.

All of a sudden, they're kind of like, Pat, how did you just come up with that formula? And Mario's like, holy shit, I needed that in high school. Literally, that's all you do. I said, so we went all the way up to 30. Oh my God. With nine year old kids. I said, let's do 29 times 29.

What's 29 times 29? Two times 29 is what? 58, you add a zero, which is what? 580. 580. So now we have a nine times 29, which is not easy. But let's do what's nine times two? 18.

You add a zero Okay, so so far we have what 180 plus five 80 is what? Seventy so what do we have left? What do we have left? Come on, Vinnie. We have nine times 29 we did nine times tonight all we have left is nine times nine Which is what 81 what's 81 plus seven 60? 841. But the point is we need to teach economy. We need to teach numbers. We need to value math. We need to value logic. The more we value voting through logic, we're not going to fall for this bullshit stuff that they're talking about. We're not teaching enough people to learn how to reason,

to learn how to make decisions, to learn formulas on what makes the economy work. Everything in life for me is about figuring out the formulas. I watch you, you don't even know this. I watch you and I look at Adam when he walks. If you look at the way Adam walks, Adam walks like he's 22 years old, okay? But here's the one thing most people don't know about.

Adam, every morning, doesn't matter where it is What are you doing a morning when you wake up? I stretch. I do yoga. How long you stretch in a morning? Do I have a pbd podcast that morning because like 30 seconds, but no matter what if you don't have a pbd podcast How long you stretch in half hour, but you do it every day. Yeah, okay? Guess what I'm in my 40s. That's a formula. You ought to wake up in a morning and do stretch I'm looking for formulas. I look at time when I'm on the road with Tom. It doesn't matter what time it is at night. You know what the last call Tom makes?

Two kids. How's your day today? What'd you do today? How was school? How was your test? How was your exam? He does it with both of his girls. No matter how many places we're in life,

I want to borrow great formulas. Our job is to borrow great formulas in every aspect of life. We just learned printing money is not a good formula. Remember this the next time they wanna, you know, somebody's running to say, I wanna print money to up things out. Just remember certain formulas don't work. So yes, short term, go get your cash.

Go make your money because a lot of shit's gonna be on sale next year. But long term, get a little bit more clear on your philosophies, so you don't fall for the same bullshit people keep voting for, and then they say, I can't believe we're in the sea. You voted for this person. What do you mean you don't know how?

You voted for this person. Well, I just didn't like the other person. Next time, don't vote based on emotion. Right, Danny. Vote a little bit more on logic, formulas, and ideas. Yep. Not purely emotion. So, I think, long term, we need comments as to come back to be popular again.

We've stepped away from that. Well, we just did right now some basic math formula that we lost 90% of the audience. I guarantee you a lot of parents. I guarantee you. I mean, guys, that are parents, that you have kids under the age of 12 are planning on doing this with your kids this Sunday. Comment if you would. And, Pat, basically what you're saying is,

and I get it, you know, I get the media attack Trump and went after him. So you're saying, stop thinking about personality and think about the policy, the stuff that these people are pitching, you know what I mean? Like that's what Trump, Trump, again, same argument. Haydom, orange guy, demon, world worth whatever. The policies were kicking ass and the proof was in the pudding.

We went like this and now the other side's excuses, at least it ain't that guy, which is Bulljard. I'd have more respect if Biden, if any president just came on to us, all right guys listen We're fucking up. All right. Give us a little bit more time. We're trying admit that you're doing it because we all see it They don't have the balls to be like listen. It's we we're screwing up bad, but my bad I don't know can I can I throw I'd like to go to next topics, but last one here take us for me to go for it Listen, we all remember in 2010 when the tea Party came into effect during the midterms,

those midterms. So there was like 12 years ago, like this week. And that idea and a philosophy. Right. And essentially, those were all political conservatives, right? Yeah. A lot of those guys are more libertarian and base. But I guess I talked about what they were going to do.

Quote on Quote, dude, they were going to be shkeying up. I'm going to do this. I guess all I'm saying is there's no doubt that Republicans focused more on the economy. If you're more conservative, you're more conservative with your ideology, but also with your money, you're more a physical conservative.

I'm with for sure the conservatives on that side of the equation. But I think we would be doing kind of a disservice to pretend that Trump didn't also print 2.2 trillion dollars of money when COVID started. So like, there's the Trump effect, but he also, like, he's the person that opt, like, as far as COVID goes,

he was the person responsible for Operation Warp Speed. He kind of got stuff going. So I, like, I hear what you're saying because I do agree with you, but I can't just give Trump a free pass as if he like did everything great and he didn't, wasn't responsible for printing money and creating COVID, you know, vaccines and all that. So it doesn't exactly always equate that way. Yeah. Tell me why I'm wrong. Go ahead. Tell me why, tell you why you're wrong. Always quit that way. Yeah, so tell me why I'm wrong. Go ahead.

Tell me why. Tell you why you're wrong. This guy shut down coming in from China immediately. They said this guy's anti-Asians. They said he's racist. This guy tried to put, you know, what he called it on taxes when he was putting tariffs on China and all. He is racist.

This guy shut down anybody doing business with Iran and flat out put tariffs and banned anybody doing business with them. Oh, he's ready. This guy was ready to shut down TikTok. Oh, no, I can't believe he's going to be doing this and we realize what TikTok is doing right now with a story this week.

Just yesterday, we were talking about the Sun Tuesday. TikTok is potentially the next app to go down. He was the only guy that had the brass to make tough decisions. And the reality during that time when COVID came out, nobody had to clue what the hell was going on with the pandemic. They didn't want to blame China. Everybody wanted to blame COVID on him. He's in the middle of the same. What the hell are we doing? This guy that's supposed to know everything Anthony Fauci is saying it's best if we shut down. If I don't, I'm gonna go again science. What do we do? If I'm shutting that restaurant,

so I gotta pay the money. Shit, if we're telling you can't go to work, we have to pay for the money you're not making, then what we're gonna do? It was hands tied against his back and it made him look horrible and it's why he lost the election. If COVID doesn't happen, he's your president today and we're not in the economy that we have today.

Matter of fact, even yourself, COVID doesn't happen. He's president today. Tell us, where's the market at today? Well, did we print five trillion dollars or no? No, we didn't. If if COVID doesn't happen, if COVID doesn't happen, assuming that he wouldn't have printed any money, if COVID doesn't have to print any money, what do you mean? If COVID doesn't happen, why do you print any money? Oh, you're saying if COVID just didn't have it, there is no

point. But if COVID didn't happen, who's your president today? It would likely be Trump. And, who's your president today? It would likely be Trump. And how would the economy be today? Hopefully better than it is now, of course. That's, yeah. Well, it's a no-brainer. Listen, just to be super clear,

would I rather have Trump any good economy in 2022 or COVID in a bad economy? I don't care how much you hate Trump, you fucking take Trump in the good economy. Nobody wanted COVID. The Adam of two years go wouldn't have said that. No, that's not true, brother. The Adam of two years go wouldn't have.

You think I'm rooting for COVID? Rooting for a bad economy? No, don't get dramatic. No, don't get dramatic here. Don't get dramatic here. All I'm saying to you is, if they needed something to get this guy out because he was exposing all these politicians

and they hated it, they couldn't stand it. The way he did it, he could have been 10 times smoother, but he was exposing all of them and they hated it for it. You can bash the guy, you can trash the guy, you can say whatever you want. If somebody is targeted, that hard core for this many years and nothing's happened to him yet would rush all these scandals, you are naive if you believe 90% of the stuff is true. Naive if you believe 90% of the stuff they went after him is true.

Well you said two things there. If I can, I know we want to move on. But yes, the media completely lied about him and you know what came first, you know, the chicken or the egg, did he hate the media or they hated him and he was attacking them? So we were in full on fundamental agreement there, but he also said something else. Are you basically saying that COVID was essentially created to get Trump out of office?

I never said that. No, but you said that like, I don't think so. I know, a lot of these said, they needed something for us. But they, but you said they needed something to get him out. It's not they needed they needed a crisis to get them out. Right. And they used COVID as the best crisis ever.

There couldn't been a better crisis given handed over to them. I'm not saying this was. But they create that though. Who the hell said create tell me? No, I'm just rewind to see where we said. You're saying they needed something. No, I say They were opportunistic. They saw this happen.

Of course. When 9-11 happened, what did Bush do? He united America. He was. And what did the media in 2000 and one do? They all got back, it got behind each other. Yes or no? It was the biggest tragedy in America since Pearl Harbor.

So of course, if you're an American, you're going to have a little empathy. Well, this is a pretty big tragedy with COVID that took place. And this COVID tragedy that happened, what did they do? They blamed Trump instead of China. Yeah, they thought you don't remember that. And they called them a racist. Every 20 years ago, when COVID happened, it was his fault. Even though he, the moment he shut down China, Nancy Pelosi, the next day was in Chinatown. Yeah. And then she changed her position two weeks later. So we should have, we should have closed China earlier.

What the hell are you talking about? The level of, the level of hypocrisy lost during COVID, they lost their credibility. They used Russia, it didn't work. They try to use COVID, it worked. They used a crisis, but what they got with the crisis they used, which is awesome. You have no idea how glad I am America got Biden.

I can't even describe it to you. I love the fact that Biden's our president because of one reason. You know why? Because everyone's seeing what the opposite policies look like. And people behind closures are like, oh my God, this isn't, and I voted for this guy. Do you know how many people have voters remorse right now?

A lot of people. I know a lot of people that have voters remorse. You know why is the only reason people who have voters remorse once they publicly? Cause we hate being wrong. Our ego's in a way. There's no way we're gonna admit to it. I love voters remorse, voters remorse.

They'll still go back. Anything but that guy. No, people have voters remorse. Tell me what's going on with your job today. Tell me what's going on with the economy today. Tell me what's going on with your job today. Tell me what's going on with the economy today. Tell me what's going on with your lifestyle today. Tell me what's going on with your gas station today. Tell me what's going on.

Tell me what you're thinking about. I'm so glad this happened for people to realize what the opposite looks like. The next time around, think twice when you vote. If the right votes are going to be going through like what they're talking about when Biden says there's going to take a lot of places three, four days. Do it for decades, for years, without the current technology that we have, we had results that same night. For years, you need to tell me technology is backtracking, and now you need more time to count what are you talking about?

In every single thing I'm getting data analytics faster, we just bought a technology six years ago, five years ago, we invest $10 million into it, I can pull up the data right now while I'm talking to you, I can tell you exactly how many policies we sold last night, okay? I can pull it up right now while I'm talking to, and many times I do while I'm on the podcast, I check to see how our day was yesterday, okay?

I just go here, one button, boom, I can take exactly how many policies we sold last night. I can take exactly, you know, 300 policies were submitted last night. I can see that with this you mean to but but if you asked me this 12 years ago Hey, how many policies were submitted last night? I would have to call on more. Hey, let me check with the department We're gonna get back to you in a minute four hours later. We sold 28 policies last night We didn't have technology now you need three days to decide elections and since 1776 with no technology,

we had results the same, and I need three additional days. You're a qualified naive. There's many words I can add. If you actually believe that they need three additional days, if you're not skeptical in that statement, you deserve exactly what you get.

If you're not skeptical in that statement. And not to be conspiracy guy, I'm just saying I can have an opinion and I could have a thought if 2020 was a movie and you wrote a movie that was, okay, this figure is just crazy and he's loud and this government wanted to get him out. And the country that he put all these tariffs and all this, all this trade stuff with, all of a sudden a virus comes out of this lab that we own that now we're finding out the leak, they're finally admitting it and made everybody stay home and have to vote in by mail and now this guy that stayed in the basement, all of a sudden had the most votes ever

some people would be like, holy shit, what a movie, how's it end? This is how it's, this is the ending of the movie. But all I'm saying, this is all I'm saying. I'm not telling you there was voter fraud. We know there's voter fraud in every election. Of course. But for a person to say, for a person to say that, hey, you know, we're gonna end up needing a few more days. In 1700s, in 1800s, they got results same night.

We have better technology, smarter people today. You mean our system got worse? You have to be a moron to believe that. Or you choose to believe it, because you like it, because it favors you. Or if you're a half-ly, logical, reasonable person who sits behind closed doors. Even though you're sitting there saying,

I don't like that guy, I'm a true natural Democrat. You behind closed doors, you're in the bathroom, you're watching a video and somebody says, some like, you have to say, some like this. I don't know about that. That sounds a little strange. That sounds a little, why do we, after all this technology, today, if you're out there, you're listening to this

and you're saying, Pat, I disagree with you fine. Go present this argument to people around you tonight at the dinner table. Talk to your friends, talk to your family. For hundreds of years, 200 and whatever year, 60 years, to 1776 today, we can do the math. For many years, 200, 40 something years, we've done okay with getting the results

of elections that same night in different states. But now with all the technology that we have that we can get any results, you can go on analytics on Instagram and find out how many people shared your post, you can go on analytics on Twitter and find out how much reach you got, but you cannot find the people that voted on the same not to announce it on MSNBC Fox and CNN. Okay, wink wink. You're right. You're a dummy if you fall for that period. And I'm not a dummy. So that's the only level of skepticism I have that when the economy is where it's at

and you're talking about elections, look folks, you know, all I'm saying to you is, keep your eyes open. There's been people, how many people have had family members that stole from them? How many people have had family members that have stolen from them? Everybody has.

Have you had family members that have stolen from you? Have you had family members that have stolen from you? Have you had friends that have stolen from you? Have you had family members that have stolen from you? Have you had friends that have stolen from you? Have you had a friend that backstab you? Have you had a girlfriend that stole from you or backstab from you? If your own blood will steal from you, you don't think the government will lie to you?

Like who do you think you matter to have these guys? No, so we can't be that naive and think it's not possible. We have to be a little bit more alert, we have to be a little bit more wary, we have to be a little bit more skeptical, we have to stay paranoid because that's when you are able to protect yourself.

Very simple. You know what sucks Pat? You saying this, going to what we said, you can't, we talk about this time. You can't even have an opinion. Like I don't trust them. You can't even talk about it. Just like the Instagram. Can you tell everybody what you notice?

Somebody sent this to me yesterday. I'm like, there's no way that's real. For the past two days, we've been posting videos because I've been shooting sketches. And forever, since I've been with the company, I've been tagging at value payment on Instagram. Yeah, you know. Post something, you go and tag it.

Yeah, and now if you go to tag it, a warning comes up and goes, Hey, just letting you know this ad has done false information. This handle false information and false this, do you still want to tag them? Like they're babysitting me because they're warning me about value payment. Guys, we're sending me this yesterday. I'm like, there's no way this will rule.

Try to tag. If you don't bring it up to anybody. And then you brought it up just to pre-podcast. I just want to pre-pod this morning pre-podcast I wanted to show my fans like that right now. Yeah, hit me with it. What's it? What's it? What is it? What is it? Try to take value-taming guys. Let me let me trust. So what do you do? You go and you try to put your story I'm just reposting what we talked about and I type in value Post-information that was reviewed by independent fact checkers are one against our community guidelines.

Do you want to mention this account? Who's who's independent fact checker Tyler? Who is that? It's snopes are political factor. Are you kidding me? Well, and Mark Zuckerberg has admitted that the fact checkers are just by the way, basically by the way, by the way, guess what? Fine.

Do it. You know what's happening? Guess who this favors more? Guess who this favors? Guess who this favors? One company that's gonna blow up. And trillion dollar company. Keep playing these bullshit games. You're good.

I tweeted at Elon yesterday saying, tell me how we can get in on the investment. Yesterday, Kathy Wood from RQ hates Elon Musk and shorted Tesla, all of a sudden got some money in it where you can invest directly into Twitter and you know, you can do as low as $500 a month but only 12% goes into Twitter. So I tweeted at Elon,

I got a group of people that want to invest into Twitter. How can we get involved? Do you know what I'm doing with that? Cause I think this is gonna be a trillion dollar company. I think, and it's like, I know, I think this is gonna be a trillion dollar company I think and it's I know I think I believe it's gonna be a trillion dollar company Why because I'm confident Facebook's gonna screw up? I'm confident TikTok's gonna screw up I'm confident Instagram's gonna screw up and I'm confident Elan's gonna keep it freer than the rest And that's why I believe Twitter is gonna be a trillion out of company if you are politics or blue

I called money is green. I called my financial guy, told him how much I want to put on Twitter, says, you want to go that high, say, yes. Says, you sure I said, yes. Yes, I want to go that high, because not because of just Elon, because I know the other guys are going to piss off too many people. What do you mean, misinformation on value,

attainment? You kidding me? Like we're an entrepreneur site that's talking about business and issues and finance and economy You're gonna say these guys post stuff like that We won your videos on Instagram got how many views on on by Tame and I 29 million 29 million views You're you're whatever sound that you like the fake the Frank hilarious, but anyways, it is what it is Let's continue with the next topic hopefully the next one we won't need 55 minutes, okay?

I think I was good. Within that topic, I think we hit up like 10 other topics. Okay. Nearly 40%, nearly 40% of small businesses in the US failed to pay rent in October. This is a daily mail story. The findings published Tuesday by Boston based business tracker, alignable, illustrate the stark effect inflation is having on every day Americans. The survey of 4,789 small business owners, some more than half of respondents say their

rent is at least 10% higher. It was six months ago. Interesting. 10% higher than it was six months ago. If you go back even seven months, the majority said rents have increased 20%. This 20% server, if you're paying 10 grand a a month now it's $12,000 a month. The study found that roughly 37% of small business owners almost half of all Americans working in private sector were left unable to pay rent in October.

Compounding concerns is the fact that several states such as New York in California are already well over already well over the already high national average. Tom, what do you thoughts when you see a number like this? What I see at the point is this to the average person. This is hugely important because this is the dry cleaner down the street that you go to. This is the little butcher shop in Brooklyn that you go to. This is the small businesses you go to.

This is the beed and art shop that your daughter goes to and gets those little things for crafts after school. These are small businesses sitting there on Main Street, America, that are now, this is the plumber that you've used for 20 years, that now his little shop where he parks his trucks and his guys come in and he's got a few sinks on display and stuff, his rent is up.

What this is saying is this is real. And so these folks are gonna, what are they going to have to do? They're going to have to raise prices a little bit on you. That's inflation. To the average person, you see, wow, this is terrible. No, this is the front end of inflation. The rent goes up, so they have to raise the price that you pay. That's the front end of inflation.

And this is, to me, the real fire in the mouth of the dragon hasn't been seen, and we're going to see it right here as we go into the end of the year path. I mean, this is the fire in the mouth of the dragon. When I mean, I just can't say it anymore, Claire. Why is the dragon so much stuff in his mouth? What do you mean like the fire in the mouth of the dragon? I mean, things are getting hotter.

You've got now people, these are businesses are about to close. These are people that have a risk of going out of business. This isn't just a little increase in unemployment rate. These are small businesses that are building the jobs or the core of the economy. And I'm saying that the dragon breathing fire is inflation and this is a leading indicator. Got it, that's the key. That's the word I was looking for, for leading indicator. Check this out. Can you pull up Airbnb? What happened with their quarter learning?

Just type in Airbnb quarter learnings, okay? And their numbers I think just came out two or three days ago. Go to news, go to news at the top. Go to, yeah, there you go. Go to news, zoom in a little bit. Zoom in a little bit so we can, there you go. Go to news. Zoom in a little bit. Zoom in a little bit so we can. There you go. Click on that right there. Boom. Click on the first one. CNBC. Airbnb earnings 90%. It's okay. I don't want them. 90% of their traffic is coming to the product. No, go to the top one. That's the one I want.

Yeah. So look at this. Shares of Airbnb, tumble 13% on low, Fort Quarter guidance. Okay, go zoom in a little bit more so we can read that. For the Fort Quarter Airbnb, said that expects to deliver between 1.8 billion to 1.88 billion below the midpoint of 1.85 as expected by an analyst, go a little lower.

So why does Airbnb data matter? Okay, Airbnb beat on tolerance. One of the company posted a revenue of 2.9 billion tone error. Somebody get the companies posted a revenue of 2.9 billion tone every summer to get over here. There's only 2.8 billion of second. But Airbnb provided Fort Quarter revenue guidance. I won't point eight, 1.85.

Airbnb is expected to a continued, all-by choppy recovery of cross-border travel to be further tailwind to future results as count countries around the world continue to recover from COVID lockdowns and grapple with high level inflation rates Airbnb also cautioned that the strong dollar will lower its international average daily rate Analysts at ever core ISI said that this was the key negative in the opponents of the country all in we have fundamental trend

We're resilient. Okay, so if people are if Airbnb's numbers are 13% lower to tumble, they're stock tumbles because they're thinking traffic's not going to be as high. Why are people not traveling as much? Why are people not spending that money? That's another indicator you have to be careful with. That people are not spending that money. There are certain areas, exotic cars down, collectible cards down,

NFTs down nearly 94%. You can go through so many of these things that people just kind of throw in money at it. Yeah, you wanna go on a vacation? Let's go get an Airbnb. Yeah, you wanna go, let's go buy a collectible card. The same Kobe Bryant card, that's one of two. That's sold for $1.7 million.

Two years ago, I wanna say, sold for $690,000 two months ago. Okay? There's only two of those cards. It's his best card in the world. Only sold for $6690,000, roughly $700,000. This card got a 1.7 million dollars a year and a half ago. And the last 12, 18 months.

Same exact card. Same, you know how we say, Vin numbers, same exact identity. Everything's the same. So for more than 50, why? Why are people not doing it? I don't know. Maybe people are hoping they keep their cash They're same exact identity. Everything's the same. So for more than 50, why? Why are people not doing it? I don't know.

Maybe people are hoping they keep their cash because they're going to need it for other places. So when you're seeing businesses not paying rent, 40% of them are behind, that's problematic. You need those guys to be paying their rent. So Twitter, let's go to Twitter and some Elon Musk stories here. Twitter employee.

Okay, first of all, let's talk about, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah, blah of the consummation of $44 billion merger, Musk always intended to take over as a sole director under the terms of the merger agreement according to the filing. The dissolution of the board was disclosed in a broader securities filing that spelled out other formalities as part of the deal closing, including repayment that, okay, great.

So the market reacts, oh my God, he fired everybody on the board, he's the sole director. This is bad news, I just sold my insurance company, June 27th, and we had a good-sized board. And when we talked to the company, that's buying it, they didn't buy 10% of it, they didn't buy 20% of it, they bought a hundred percent of the company. When we talked to them, there's no longer the board.

I'm a managing director, and the board members are nicely kindly asked, Hey, thank you for your service. Thank you for what you did, but you're no longer board member. The new owner chooses to not have that board because that's how things like this happen. But this makes for a great headline. This makes for a great story and he's the sole director because he owns Twitter That's what the normal person that buys a company does He gets to choose that He didn't get rid of them for any reasons he didn't fire them It's just what you do when you buy a company Tom, when you hear a story like this, what do you think about it? Oh, it's just piling

There everybody's piling on Elon Musk They're just piling on trying to find a story over those in nothing burger there If someday he takes Twitter, public again, he will have a board of about nine people. Why? Because the law says that under securities and exchange commission says that you need to have a board and compensation committees and audit committees and things like this. But when let's put it this way, if you're out there thinking about this and you own a small business, who's the owner? You. Who's your board, yourself? Who are your advisors?

Maybe your spouse, maybe friends, maybe family, maybe Patrick Pet David is one of your advisors. That's just you. But if you want public, the law says you have to have a board. Twitter's no longer public. And I look at this and it's just like what Patrick said about selling his company. This is piling on.

This is a nothing burger. These are people saying, oh my gosh, he ousted his board. He didn't ousted his board. They were a public company board. And when the public company dissolves, you no longer need a- Very normal thing. It's not a big thing.

It's not just normal. It's courting to the legal regulations of how you organize and tax a company. What it makes for a great headline. And matter of fact, this next one is even better. If you want to pull this one out. Let's you say, there he goes again, let you and CNN say, there he goes again.

Can you pull up Elon Musk Q score? I'd like, what I want to know is, what is it about Elon or why there's so much hate towards Elon? Is it because he's a billionaire, because he trolls people, is it because he's childish? It's because they're the word he's taking over the world. Is he is an advocate of free speech because You know that's not what they like these days apparently. I don't know. I think freedom of speech is pretty damn cool

Hang on, you know an entrepreneur who won't tow the line and is unafraid of you. That's no, no, no, but why do people? I understand if why maybe like big government wouldn't like him or even big tech or you know competitors I'm saying average people. What is it about Elon that pisses people off? You see all these famous people? Go to Gates. Go to Gates. Go to Gates.

Okay, so go to Elon. Okay, go to Cuban. Go to Buffett. Go to Bezos. It lands the most, Bezos is the most dislike by the way out of all of them. Interesting. Bezos is 38%. Yeah, can you go over these numbers?

Yeah, if you look at, uh, go to Donald Trump Jr. Let's see what that one says. That's a fact or something. He's this like by 53%. Go to Zuck. Of course. He's this like by 49%. Almost, Zuck is almost this like that's much as

Donald Trump junior is that is very very strange go up so basals was what this like by 38% buffered was 17% 20% uh musk was 30 click on musk 33% and baits gates was 29% if you click on gates by the way this new miracle like order is it like there's a there's a reason for it is it based on fame is that the highest how they're putting this no i think it's ranked on popularity well yeah fame popularity uh... so bill gates is ninety seven percent than elan keep going just boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom boom Junior, junior, 93, 80, 80, it's not the number of people heard of. It's who they're liked by. Yeah, it's not.

Okay, so there's like a good idea. But tell me, tell me what's your question. So what I'm saying is, yeah. Okay, so we're using, what number are you looking at? What number are you focusing on? The fame, the popularity, the slightly looking at this light. Okay, you're looking at this light. That's the point you're saying, you said,

why do so many people dislike them? So that's the number I like that. Okay, gotcha. So Bill Gates is 29. Elon go go quick Tyler. So we don't take a lot of. He just did. He just did.

Elon is 33% mark human 17% buff. It is 20% baseless is 38% juniors 53 and Zuck is 49. Yeah. Not sure why juniors on that list. However, very weird that I have junior on that list. Like if you had Donald Trump on there, that would have been why junior even close to that. So, so how do you process this? Yeah, that's what I'm wondering is that Zuckerberg and Bezos are way more hated than Musk. Way more hated based on these numbers. Yeah. Yeah. Interesting. But, but here's the point. It's such, I'm so glad you

went here because great point you're making to say Just because Politicians and mainstream media screaming as loud as they are about how much they dislike this guy The average person actually likes this guy. That's my whole point Like what's with the hate on you? You cannot be again the one thing that we have to work on as we mature in business Like I was a naive businessman. I was a naive salesperson. I was a naive player in the market. You know, you're not naive when it comes out to girls.

There's no way you're gonna be naive when it comes out to her. I believe my personal life is. But what I'm saying is, and we all have areas of our lives where we're not naive in, where you don't fall for bullshit, okay? For example, yesterday Dylan and I were driving the car, I said, Dylan, who do you think is gonna win the Super Bowl?

Oh, that, for sure. The Eagles. Tell me why the Eagles. Oh, that, are you kidding me? I'm telling you for sure they're winning this award. Seven or no. I said, what are you talking about? It's a dad, they're seven and no.

Maybe the Giants, maybe Minnesota, but it's gonna be Eagles win the championship. So that's what you call a naive fan. And then I said, look, in the game of sports, winning the championship has So that's what you call a naive fan. And then I said, look, in the game of sports, winning the championship has to do with what? Who is the healthiest when playoff start? Who's the hottest team in the playoff? How does then a healthiest wins the Super Bowl, right? Most likely to be so healthy. When it comes down to stuff like this, you can't be naive and say, why does the media not like this guy?

Dude, the media had a full on monopoly on controlling the point of contact and the narrative until this guy bought Twitter. Facebook actually has to now wake up and say, listen guy, if you keep doing this stuff of be careful because of this information stuff, this guy's gonna hurt you. You know what he's trying to do? Do you know what one of the things he's trying to do?

Can you pull up that Fox Business article that Mario sent to us yesterday? It's a fantastic article that Mario's very big on news and Wall Street You know, like about five things that you don't want to do on our five major moves in the first week of Twitter ownership Go up. Let's look at the five go up. Okay, number one. Disauving Twitter board. Okay. That's done. He owned a hundred percent of it Go to two to his firing top executive zoom in zoom in zoom in some people are very upset about what this guy is doing here. Following the closing of his acquisition, Musk fired Agrawal, she financial officer NetZegel, Vijay Gadi, Twitter's head of legal policy trust

general counsel Sean Edgett also confirmed on Twitter that he is no longer with the company after several outwards reported. He was included in this. He says Thursday concluded five years of Twitter. I'm grateful for the opportunity. I've worked with such an incredible group of people. Da da da da da da da. Okay, great. So now go to the next one. Go to the next one. Point number three. Point number three on what he did. Right there. Bring bringing it. Look at this one. This is important. Bringing in test-launched engineers to review Twitter's code. Oh my God. Oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, oh, you better believe test-launch Tesla engineers running a trillion dollar company.

They kind of know what they're doing. Of course. Go to number four. Go to number four. Launching content moderation council, moderation council and revamping Twitter verification. This is the $8 a month thing that he told the AOC, if you go a little bit higher. Right, I'm sorry, I say higher, I mean lower, yeah, there you go. Twitter will not be a non-general platform. Twitter will not allow anyone who was de-platform

for violating Twitter rules back on the platform until we have a clear process for doing so, which means if some of you guys are wondering about Trump, it's not gonna be happening, which will be for at least a few weeks. Twitter copped the moderation council will include representatives with widely divergent views, which will certainly include the civil rights community and groups who face hate-field violence. Go lower and show the last one, which is number five, and I'll tell you what he just tweeted the other day, go to number five, Vine Revival, which he wants to bring Vine back.

And five million people voted for that. 70% won that thing to come back. Here's a point. Elon said the other day, which is powerful. And it's important, Vinny to you and to Adam and to Tyler. Here's what he's doing. He wants to pay content creators. It's great. What does it mean he wants to pay content creators? What other platform-paced content creators. What other platform pays content creators? Hello YouTube, pays content creators, Facebook, pays content creators. Let me tell you this way.

If this guy starts paying content creators on Twitter and they start making money, they have to realize. He is now officially the most hated man, both in politics and in Silicon Valley because Silicon Valley has controlled everybody because they've had Facebook, Twitter, everyone. And now this guy picked them up and in politics, they've had the control and narrative. Now they can't call this guy and say, hey, you got to de-platform that guy. Hey, you got to do this.

You got to nope, because he ain't playing by your rules anymore. That's why he's the most hated guy by politicians and Silicon. And when I talk about another people that hate them, Tyler, if you could pick it up, Christians and conspiracy theorists, did you see where he wore for Halloween? The costume? Yeah, yeah.

The chest piece was the baffamit, the like the devil with the upside down cross. Could you go to his, go to the, look at the chest piece, go zoom in on that, Christians and everybody are flipping out because this is the devil's, what's it called, the devil's armor or something like that go?

Go keep zoom into the chest Tyler. It's the upside down Christians. We're not happy He has a upside down cross and like the go the devil people are like he's a devil I mean that's Halloween. I mean Halloween bro That's like that's a $8,000 costume the girl I hung out with on Halloween. She wore devils outfit So it's like She's hot. I'm afraid to do that. But he pissed off a lot of people Yeah, but you know, you know, I get I'll tell you what I'm I'm a I like Elon. Okay. I'm not like a Elon guy He's the best. I'm like, no, I like Elon. I think he's a necessary guy. I think he's a awesome guy But to use your sports analogy with Dylan and who's gonna win the Super Bowl I'm a sports guy your sports guy where all sports guys anytime a new

Coach or new GM comes to a team Lakers new coaches here We're clean in the house. We're starting fresh. Yeah, I want my guys in there I want my offensive coordinator. I want my defensive guy. I want my guys in there being being being It's so par for the course no one talks about it But when a guy comes into a business and cleans house, it's like, oh my God, what's he doing? That's essentially what you're saying. It's like, this is normal stuff.

And I love, I so love and appreciate how real you get and you reveal exactly what happened with your company that you sold. You're like, yeah, I just did this. The board that I had, everyone on the board, they're no longer there. Because I don't want to go on the board. Not because I don't like that,

because it's a different kind of thing now. So just that's just scary. By the way, let me make this very, they're very happy board. Yeah, very, very happy. Because they were not only board members, they were investors. Yeah, we like that because that way you want to help. So anyway, so there you have it

By the way pull up the picture with the employee I'm so you know deeply concerned about this picture that was prop, you know And somebody somehow took the picture with a perfect angle Vinnie you got to post the same picture today on Instagram and you got to put up there and say man by team and making me sleep Yeah, all right. Yeah, can you do you have it or no? You should have it somewhere here I'll read the story while you're doing this so Can you do you have it or no, you should have it somewhere here. I'll read the story while you're doing this. So, Twitter employee seen sleeping on office floor

as Elon Musk pushes tight deadlines. That looks like a setup. Obviously nobody took that picture at all. Twitter's director of product management, Esther Crawford was photographed wrapped up in a sleeping bag, wedged between a table and some chairs and what looked like a conference room with a sleep mask pulled over her eyes under the fluorescent lights of the office.

When you need something from your boss, Adelaun, Twitter, Evan Jones, a product manager, a Twitter space is set in a tweet Wednesday, Crawford retweeted the photo with the caption, when your team is pushing around the clock to make deadline, sometimes you sleep where you work. Inside, obtained an internal message telling workers the exception, the expectation is literally to work 24-7 to meet Musk's deadline for an overhaul of Twitter user verification process. Okay, so let's play both cards. Let's say this is true, let's say this isn't true.

Obviously, if it isn't true, guess what? She got a lot of eyeballs, if it isn't true. But let's play the card of this is true Tom. Have you ever Slept at an office or a job that she had have you ever done? Yeah, so many people know I worked in Silicon Valley And there were three times that I worked 24 hours straight not a not a 18 hour day, but 24 hours straight I work I had a product that was launching I was into it. I was excited. I was also young. I didn't have kids. But I was all over it. And yeah, was the, did I have a boss that was just, you know, pushing all of us really, really hard? And said, no, we were pushing each other

very hard. And if you take a look at what's here, we were pushing to an objective, which was a product launch. I worked 24 hours. I knew people at other companies did. It was like a badge of honor. Nobody, we didn't feel that we were like some horrible, horribly treated group of folks. We had stock options, we had upside, we had things that we were working for, and we were passionate about it.

And to guess what, people that didn't want to do that, they left and they worked elsewhere. And you know what I saw in this? What are these people doing? What has he got them working on? An overhaul of the verification process. You see that? Do you think that's important right now? It's I've credibility for Twitter. Do you think it's important? He came in and said, Hey, if you're in, we need to overhaul the verification process. And it needs to be 24 seven to get this important milestone done so that people will trust and believe more in our product that we're going out.

This is not like a new normal for the next 10 years at Twitter. And I think this is another nothing burger we're trying to make him sound like he's some crumbogen that he's putting such pressure on people. No, if you're into it and you're sold in and you are all about it, you do it. And I did it three separate times, 24 hours. And it's a badge of honor. I was passionate, it was exciting. And these people are working on,

and it's important overhaul. Cool, awesome. You know what's crazy is with CNN? CNN forgets why their company is still around. Okay, I dare you to go watch CNN's documentary, how they made it. Go watch the videos at the beginning when they were first doing 24, 7 do's and that

turned out came out. Go see what buildings they worked in. Go see how many nights that turners slept in the office. Go eventually slept on the floor above where everybody was working. He just slept in the building. People were there 24-7 to make CNN work. The CNN employees of today should be so grateful for the people at the beginning stages of CNN that slept in the office that sacrificed,

that gave their lives away. So you can now make 10-20 million. And some of the guys can make $2,300-$400,000 as executives. And CNN is what it is today, at least what it used to be a few years ago, because right now their ratings came out yesterday and it's terrible. I feel bad for CNN that they're going through these challenging times. Hopefully the new guys are going to fire the right people and bring the right people and change that around. But the point is this, there is no company that is massive today, no society, no country that at one point, the original founders of that country,

of that society, of that company had sleepless nights and did stuff that made no sense in regards to work to get it to where it's at today. There isn't any. You tell me stories of actors, you guys wanna go after Twitter, why don't you go talk to actors, How many of them work 20 hour shifts? And yes, Zach has to pay them the overtime. How many actors you know?

So how was it working, dude? I just have to sit there and they just call me. Man, I can be at any time. I can do this. We gotta be at one time. We did this 24 hours, one time we did at 18 hours. Go talk about military. You know how many nights we would sleep like,

how many times? During 9-11, I was sleeping on the rucksack. A rucksack was my... 36 hours one time we did. I'm like, you seriously, yeah, we have to do this. You gotta get used to it because if you can't do this, how you gonna handle in war? Yeah.

In every example can be given people that did this, but when you post something like this and people overreact, now, guess what? This guy's a tyrant. What a horrible guy this is. Now they're trying to make an adjustment right now. It's not gonna be like this forever. It's at the transitional stages

that's gonna be a little bit annoying until the machine is up and running based on a new system, then it goes back to business as usual. By the way, just to give some context. You don't hear these stories that's currently going on at Tesla, or at NeuralLink, or at SpaceX. You don't hear any of these stories. It's only at Twitter, on the one weeky by Twitter.

What do you expect? Okay. How many times you didn't take that picture of that girl? Well, she like took off her things. She's like, no, make sure the angle and then she put on her little sleep mask. Come on, by the way, I think this is 60% true. I actually think it's a true that she posted this.

But also at the same time, I think if you've never been in a startup, let me make a recommendation to folks. If you't like stuff like this never work for a startup. Don't do it ever go work for an established company Don't ever work for a startup company now for some of you guys that have worked for a startup and it made it I am sure you have a lot of awesome stories. I am sure you have stories that you want to tell the world about it How great it was there's something very unique about being part of a startup. It's a very, very unique experience when you work for a startup. Okay, let's talk about it. There's also one other thing that people should, there's a difference out there between

having a job and having a career. If it's just a job, whatever it is, if it's just your job, your give a shit level will not be as high. So there's something called, this is not a scientific term, Tom, but it's a give a shit level. Do you, how much do you care about what you're doing or not? Right? So if you have a career...

Pass your... Pass your paycheck. Exactly. If you have a career that you're passionate about, that you're willing to sleep in the office and you're willing to sacrifice, that's how you'll make it. If it's just a job for a paycheck,

of course you're not sleeping at the office. So you know whoever's listening right now, you know whether you just have a job or you actually have a career and it will reflect in whether you're sleeping at the office or willing to bust your butt or make sacrifices or not. Awesome. Let's go to the next story that was great commentary there.

White House shamed into deleting social security boasts after Twitter fact checked the Biden administration was forced to delete a Twitter post taking credit for boost in retiree social security checks Wednesday after social media users pointed out the increase was tied to decades high inflation. Seniors are getting the biggest increase in social security. Can you post this up so we can see this? How embarrassing is it when the White House has to delete something? In social security checks and 10 years though President Biden leadership, let me read this again.

Seniors are getting the biggest increase in their social security checks in 10 years through President Biden's leadership read the tweet from the official White House account Tuesday afternoon Twitter opened a note to that claim that said readers added context they thought people might want to know seniors will receive a large social security benefit increase due to annual cost of live in adjustment which is based on the inflation rate, notes set linking to Social Security Administration website for an explanation on an Nixon Aero legislation behind this increase. Please, okay.

For all of those things that I'm just a Biden apologist, like listen clearly, nice try there, Sleepy Joe. Nice freaking try here, buddy. I saw this, I was like, come on, buddy. Yeah, doesn't it feel good that I know? Don't you're getting checked, fine. Yeah, come on. But doesn't it feel good that I know? The whole. No, just like seniors are getting the biggest increase

in their social security in Cheniers. Thanks to Joe Biden, President Joe Biden's leadership. It is his no body. Nobody, it's because inflation is fucking north of 8%. And this is by law what needs to happen. So seniors who are living on fixed income can live. Because Joe Biden doesn't want old people dying in their homes in the happen. So seniors who are living on fixed income can live because Joe Biden doesn't want old people dying in their homes in the headlines.

So of course you need to do this protect people. Of course people need money to pay the bills. Of course you need money to pay the gas every the grocery everything we get it. Nice try Joe. Nice try Korean St. Pierre jump here. But it was a nice try. That didn't economy down.

I leave the post. We've been moving on. It doesn't feel good that it's finally happening to the other side because if you think about it, do every Trump Trump was getting checked fact check every two seconds now that they're getting checked. Can you imagine all the shit that they've done the past three years that nothing's happened? But there's a difference between fact check and the leading tweet, especially from the White House.

Because here's what you think about. One, who the hell tweeted that? Who approved it? Who checked it? What is the, you're the White House. If you need this much verification to have a tweet go out, how the hell are you gonna run the world? How the hell are you gonna run the country? How the hell are you gonna run the country?

If you can't handle one simple account of Twitter, can't you have five people that check something before they say, all it takes is one person to say, well, President, before we tweet this out, this is not because of you. This is because of the structure it's set up. No, no, no, just put it out there. We're gonna need it for the midterm,

just gonna show us what we're doing a good thing. But Pat, think about how, like now this is two years later, like he finally got his Twitter, how much shit are they tweeted that was a lie in these past two years this pointed again it's there's nothing you can do about it there's nothing you can do about it so pop Pelosi attack uh uh cops weren't monitoring cameras during break in uh uh uh um um you know let's I'm sure you saw this story we talked talked, but I think briefing on Tuesday. But the Capitol Police has a live cameras outside Democratic House Speaker Nancy Pelosi's home,

but officers were reporting not watching the feeds when her husband was brutally assaulted. The Capitol Police first installed cameras around the Pelosi residents more than eight years ago. The House Speaker's 24-7 security detail left San Francisco with her when she returned to DC last week, and the capital police stopped continuously monitoring the feeds outside our house, according to the report, police

say, David DeBepe 42 years old, broken to the house and shouted where's Nancy? He then allegedly attacked her husband with a hammer, fracture in the skull. Go ahead, Vinnie. So, okay, here's my thing. And Tom, we talked about this before we went on there. Why is it that we can't ask questions? I can't ask a fracturing the skull go ahead Vinnie. So okay, here's my thing and Tom we talked about this before we went on air Why is it that we can't ask Questions I can't ask a question like you just even a little bitty one one like give me one like if you were curious about this time What would you like because you heard a bunch of different stories? Well, it would be one of your one of your questions gosh after the last three years with the riots and BLM

I thought all cops had had body cameras. They have, hold on, that's a 100% guarantee after 30 seconds. Pepe, it comes on and it's a big party. I'm saying, Paul Osset, I didn't say magout. I just said, don't, and it wasn't California, one of the leading states at all cops have their body cameras. One, 100%, here's a great question.

Oh, you're a conspiracy theorist. You're already a conspiracy theorist, and here's the thing, you want to shut everybody up and shut every question asking person, release the camera on the cop so we could see exactly what happened. Don't leave it up the question because when you leave it up the question, then you have people going, wait a minute, he was in his underwear. The other guy was in his underwear. The glass was broken from the inside out.

The 911 call, you clearly hear the cop saying he says it's his friend and his name is David. Okay. And then when he's screaming, where's Nancy? I mean, they could be a bunch of different things and then automatically they're gonna put it into January 6th and it was January 6th. There's just too many questions and I feel bad for him and I hope he recovers But then just a couple months ago, he got a DU wine boy. He's been partying. That guy, I'm partying, bro. I think he's partying, Pat. And to me, this is my opinion. Yeah, he finished his community service and was he in his recovery?

Did he go to his recovery? I remember he had community service and recovery classes. Yeah, I don't know if he's finished. That takes a lot. No, I'm gonna be a reporter and I'm gonna take away conspiracy. Hey, wait a minute.

Was there alcohol involved? Wasn't he going to recovery classes and community service because of DUI? 100% he's a conspiracy theorist. Good conspiracy there is. So I listen, there's just too many questions and going back to it. So good point though. Have the cops show that we can we ask questions. I mean, how do you not have the camera on the third most, you know, powerful person in America? I will tell you one person who is trending is since since he used the hammer MC hammer

some type has been doing very well. Spotify people that the house, do you mean to tell me Nancy Pelosi's house doesn't have top notch security and the father husband is there she's not there that's fine. You cannot tell me that because she's number two, you know, if God forbid Biden dies and Comma la dies and they both died in accident Pelosi's next in line. She's number two. Not number three. You don't have cameras there. I don't believe it people are not dumb Yeah, I'm not I'm definitely not dumb with that

This by the way of the 10 things going on in the world This is not in my top 10 stories that I'm following me me me okay, same here I spoke to make a shout out to my buddy. He's gonna hear his name. He's gonna flip out is going on in the world. This is not in my top 10 stories that I'm following. Me, me, me, okay. Same here. I spoke, let me give a shout out to my buddy. He's gonna hear his name, he's gonna flip out. Yeah. He's the biggest magick supporter one of my best friends, Joey B.

If you're listening. Joey, we spoke for a half hour last time. He's like, I gotta tell you, I want my, I can spare everything I'm thinking about Paul Pelosi. I'm like, all right buddy, entertain me for a half hour. So he's like, so I think he knew the guy. I think he let him in. I'm like, okay, all right.

That's not far fetched. How security, how did he get in? Of course, how does Nancy Pelosi sounds? How does security, I'm like, I'm with you, okay? So he's like, yeah, all this is going on. So I'm like, what's your conclusion? They're gay lovers. I'm like, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, no, is there underwear? I'm like, are you the doorless guy with two bottles of cream? He was sleeping at 2 a.m.

and the guy got in the house somehow. So like, you're entitled all 100% in America to what you think. But you can't say things that you know, like as if they're facts what you think. So I'm with them. I'm like, oh yeah, how do you get in? What the hell happened there?

How do you get in there? It's crazy, maybe he let him in. I don't know, maybe knew him, he was a friend. I don't know. He's like, they claim that how do you get in? What the hell happened there? How do you get in there? It's crazy, maybe he let him in. I don't know, maybe no, it was our friend. I don't know. He's like, they claimed that he was a Maga guy, but he's a BLM guy because how many Maga guys are in San Francisco living in a, I can calm you, not all right cool, cool, cool, cool.

So the logical conclusion is they've been lovers all this time. It's like, where did that come from? I'm not gonna lie, I sat as Pat, I messaged Pat and I G. I sent him a bunch of clips, I was like, Pat, I even said it, they're both in their underwear, he didn't hit him till the cops showed up, and he's going, where's Nancy? That sounds like a lovers' quarrel,

and he's like, where is that bitch? That sounds like what I said, Pat. I asked my guy, Joey, one question I go, the guy's 80 something years old, find me one other story, he's been in the public eye for 50 years, one other gay lover's story, He's been in the public eye for 50 years. One other gay lover story. He's like, there's nothing out there.

I'm like, really? So this is what's happening. I mean, he's kept it for a long time. Right, one week before midterms, Nancy's out of town. Boom, now's my chance. Come on, bro. Okay, let's go to the next story. Anyway, don't, let's go.

Not to say. Looks like you guys got that out of your system. Not, not. Next story, job openings, rise unexpectedly. Job openings, it looks like you guys got that out of your system. No, no. Next story. Job openings rise unexpectedly. Job openings rise unexpectedly to 10.7 million a September despite Fedhikes. Despite Fedhikes. So let's look at this here.

US job openings rose on expectantly September, suggesting that the American labor market is not cool in as fast as inflation fighters at the Federal Reserve. Hope employers post a 10.7 million job vacancies in September up from and up, orderly of 10.3 million jobs in August, the Labor Department said Tuesday, economists had expected the number of job openings to drop below 10 million for the first time since June of 2021.

Another sign that the labor market remains tight and employers are unwilling to let workers go, layoffs dropped in September to 1.3 million, a few since April, but the number of people quitting their job slipped in September to just below 4.1 million, still high by historical standard. Tom, what does this mean to us? Well, I got up way too early, had way too much coffee, and I saw that, and I'm like, wait a minute. What's behind the numbers?

What's in this 10.7? So I went to the United States Bureau of Labor Statistics, and I printed out the report that was there and I said There's a handy report here with column headings and everything and I said first of all where are these jobs? I just thought it was kind of interesting The 10.7 million jobs 4.2 million of them are open in the South 5 million is the Midwest and West and there's only 1.7 million open in the Northeast,

and that's actually down. So behind the 10.7, there are jobs open in the South, level in the West and Midwest, and down in the Northeast. Okay, that's very interesting. So they're following the sun toward the winter, but where are these jobs? Well, I saw a couple headlines this week. Apple freezes hiring, I think we all saw that.

Nothing to see here. They're just saying, hey, we're on a hiring freeze. We've also seen a couple other tech companies, Silicon Valley, and large companies saying hiring freezes. Now, those are skilled workers, why color workers? And also, I found a couple little bit things on venture-funded companies, like one that stuck out was Gem, which is zen source which is has

170 million dollars of venture investment they just laid off one third of their workforce and they are a white collar competitor to zippercrooter and others well that's interesting so then I said huh I dove into the numbers check this out of the.7 million, 1.6 million of those jobs are in leisure and hospitality. In other words, restaurants, hotels, food service. 2.1 million are in social assistance healthcare. You know what that is? That's retirement community, nursing, hospice,

things like that. So wow, then I said, well, how many are white color workers? Only 1.9 million. So of the 10.7, only 1.9 million are white color or skilled work. So that lines up with Apple saying, well, we're freezing. And then another one stuck out. This one's up to almost 1.7 from 1.5 over two months. Where wholesale, transportation, and warehousing is up. Now, why would that be?

Because we're going in the fourth quarter, baby, and those are Amazon jobs. Oh, wow. And those are, and the new drop ship economy we've got. It's not just Amazon. It's up there. So it was very interesting to me. And the government still had a million home out there. So there's a million jobs for the government. So what's really interesting to me is there's two sides to this. You've got hospitality, warehousing, and retirement homes and retirement communities accounting for almost six million of the jobs. And you only have two million white collar. This is called a barbell where you have two ends of the barbell.

You know what I mean? And it's skinny in the middle. So the jobs that are being created are not high paying high skill jobs. That's what's behind these numbers. By the way, so let me tell you, they like to talk about 10.7 because it's an election. Yeah, but but here's the problem though. Here's here's the problem though.

So look, look at the way the article reads. The article reads and says to the following. It says, what page is that on the list? I'm posting some three. So listen to the way the article reads. New York Post. It says, US job openings rose unexpectedly in September, suggesting that the American labor market

is not cool enough enough fast as the inflation fighters at Federal Reserve hoped. One more time, suggesting the American labor market is not cooling, meaning the Federal Reserve wants the American labor market to cool off. So if this number is true, guess what it means for December would interest rate, it would rate hikes. You're going to get another three quarters of a basis point because it's not cool enough. As weird as this sounds, this needs to cool off more for them to get to only half or a quarter. But if you're getting numbers like this, Powell's sitting there saying, nope, it's

not working yet. Maybe one more month. Maybe one more month. So I'm leaning towards three quarters of a basis point in December, half to three quarters of a basis point. I don't think it's gonna go to a quarter. He said they're gonna do half. I think maybe three quarters of a basis point if these numbers are not turned out. I'm with you 100% and I take this back to our economic discussion on mortgages.

There are not high paying jobs out there to go be able to pay that higher percent mortgage folks and so i said is your job is moving you to another city under consumer housing conserve your spending the way you can and get through what is going to be a two-year nuclear winter in our economy and i can save their money yeah no question about it

ap news uh... official southeastern u, Saudi tells US that Iran may attack the kingdom. Saudi Arabia has shared intelligence with American officials that suggest Iran could be preparing for an imminent attack on the kingdom three US officials at Tuesday. The heightened concerns about a potential attack on Saudi Arabia come as the Biden administration is to criticize and tear around for its crackdown on widespread protests and condemning it for about a potential attack on Saudi Arabia come as the Biden administration is criticizing Tehran for its crackdown on widespread protests and condemning it for sending hundreds of drones as well as technical support to Russia for use

in its war in Ukraine. The U.S. and Saudis blamed Iran in 2019 and being behind a major attack in Eastern Saudi Arabia, which halved the oil rich kingdom production and caused energy price to spike. So this leak of information from Saudis to U.S. does it seem like Saudis are concerned that this could backfire them? What's the motive behind this time?

How do you process this? I process it that if you're bullying on the playground, sometimes you say he hit me first. And I wonder if this is kind of a little false flag that the Saudis are putting up and the Saudis, but if you want to look up the curating for the Saudis, it's probably, probably dislike going to be hired in Iran, though. That's right. But you know what's interesting, they were only 99% hated by the news media.

So I'm going to know the one guy that that that wouldn't vote on that. The I think what's going on is the Saudis are playing this game. There's a chess game and the Saudis are playing a game here. And I think they're trying to throw some shade on Iran and and take advantage of the the upheaval and stuff that's in Iran. And I think when people, you know, you read your morning newspaper and you look at stuff, you have to look at the, you know, what does the chess board look behind this? And this is just a statement. Nothing has happened. This is a statement.

Tyler, you got thoughts on this? I'd go ahead. I just sent you something. So I want you to pull that up as well. The other day is breaking that another girl was killed in Iran. Iran, and I think it's, they might do something just to draw distraction away from the protests and the rights. I think they're trying to get people's eyes off the rights

and the protests and let this crawl down while they go in and forcibly injure a lot of people. And they send the military in and quell this. And I think they're trying to do something like draw distraction. And actually, I think they will do a small attack in Saudi Arabia But again, I think it's just a distraction to draw away from the protests in the riots I don't I sent you something

It's actually kind of gives you a more of a clearer picture of what's happening in the Middle East. It's not so much Iran And Saudi Arabia, you know, Sunni Shiite. We've all if you're not familiar with that That's a whole we can go down the whole rabbit hole there. But it's sort of like a meme and it's two Arab guys kind of talking and trying to figure it out. And it basically goes like this. And the Middle East today, we have the Sunnis

who hate the Shi'ai, it's right. And then they have the Turks who hate the Kurds and the Saudis hate the Iranians and the Palestinians who hate the Israelis and the Yemenis who hate the Saudis and the Iraqis who hate the Iranians and the Libyans who hate the Israelis and the Yemenis who hate the Saudis and the Iraqis who hate the Iranians and the Libyans who hate the Egyptians. So the cause of tension in the Middle East is clear

and it could not be clear. It's failure of American leadership. Let's go to the next one. That's what it is. So it's like, if you wanna go down the rabbit hole of what's going on in the Middle East, it's like, we just cleared it up. Yeah, pull that America's fault.

Print this and pull your brains out. It's all your fault. You know, I mean, you lived in Iran, so I think you can appreciate this. It's like it's not all just Arabs are together and they hate US and they hate, you know, Israel. There's there's Sunni and there's Shiites and obviously the Turks and the Armenians have their issues and Azerbaijan and Russia and this and the old Cold War and who came in in the Egyptians They have peace with with Israel and the Jordanians like I think Netanyahu who is all up in the news running for reelection for like the fifth All up in all up in it. Yeah, I'm not a bit here First of all this artist everybody looks like Osama bin Laden. I don't know every single person

But boy and somebody asked me on the day, why middle east is why you guys have so much, you know how hot it is. Can you imagine going to the beach and never leaving? It's just hot. People are angry, dude. It's hot. Well, I live in Miami, it's just as hot.

Nobody's angry. There's no shade. Well, these guys are out in the middle of the freaking desert, bro. There's an angry and hot. How to understand Israel and Saudi Arabia. So you could have really, well, they can afford the air condition. Here's something that I think built an island that looks like a map of the world, because they were bored. We have all this money spent in what country is that?

Dubai. Dubai. I mean, they're just doing their thing. I'm just having fun. They're like, we can make it rain here. Go ahead. What do you put a palm tree next to it? We'll build that next. Just to kind of go on the Israel perspective about BB. He was on Bill Mar recently. He was on Fox recently. I like BB a lot. He said, for years and years and years, he kind of threw John

Kerry under the bus here under the Obama administration. He's like, for years and years and years and years, he's there saying, if you want to have peace in the Middle East and peace with your Arab neighbors, you have to start with the Palestinians. You have to start there and you make peace there and he's like, listen, they don't want peace. Okay. So he goes, listen, I don't, I don't, not going to make peace with the 1% and then move on to the 99% he basically said, let me go make peace and deals

with the 99% Arab world and you look what they've done with all the arrangements and peace treaties, whether it's Egypt, Jordan, UAE, Oman, everything what they've done with all the arrangements and peace treaties whether it's Egypt Jordan UAE oh, man everything that they've done He's like let me make peace with the 99% and then we'll go back to the 1% I thought those are very unique perspective because you constantly hear about Israel and Palestinians and figuring it out. It's like where's that got anything? And he said listen, let's move the ball forward with the rest of the Arab countries Let's make friends, you know, we have a lot of common interests a lot of their common interests have to do with

You know versus Iran everything against Iran preventing Iran from a nuclear weapon for forget it preventing terrorism in the Middle East and Part of that is this story right here where this secret Relationship between Israel and Saudi because what's the famous thing we always talk about? The friend, the enemy of my enemy is my friend. Everyone can agree that Iran is pretty much everyone's enemy in the Middle East other than certain parts of Syria and Hezbollah and Lebanon and that kind of stuff like that.

But that's a whole other thing. But an interesting perspective by BB. Let's see what happens. There's a lot of tension right now. We'll see what happened here. By the way, Article K just came out with by Washington Post. US workers have gotten way less productive.

No one is sure why. Oh, really? Okay. Now, we have no clue because we have no clue why employees have gotten unproductive. In a first half of 2022 productivity, to measure how much output in goods and services and employee can produce in an hour,

plunged by the sharpest rate on record going back to 1947, according to data from the Bureau of Labor Statistics, it also raises questions about the shift to hybrid schedules and remote work. Oh, possible questions. Yeah, I mean, that's definitely not that. As employees have made the case that flexibility helped and work from more effectively.

And it comes at a time when quiet quitting, doing only what's expected, and no more resonating, especially with younger workers. No one knows or will know what is causing the drop off in productivity for some time, said economists, Lawrence H. Summers, President, Emmer, this is supposed to be a smart person here saying no very no very I know I know who he is no he was under a

uh... uh... uh... uh... clinton administration no one knows no one knows or will know why what is causing the drop-off and productivity for some time said economists Larry Summers uh... but he was a former treasury secretary,

but it could have something to do with the fact that many employees were working unsustainable hard in 2020, 2021. Oh my God. That last statement there. Larry. Larry. That statement there, there was something missing.

After a night of hard drinking with Paul Pelosi, he said, but it could have something to do with the back then, employees were against the state. you know what this is, this is BS because which way does he wasn't? Does he want to say he contradicts himself is quite quitting doing what only what is expected in more. That was the work from home thing. And then he wants to say, but they were working unsustainably hard in 20 and 20 years. Let me say this. You can't, both sides of his mouth on one point. If you're seven years old, if you're seven years old, you're 10 years old. And your mom's best friend brings her 10 year old daughter over to your house. You're 10, she's

10. And your upstairs in your room, if your mom and her mom are okay with you being upstairs for two hours, what do you think eventually is happening? Okay? What was the rule? Don't close the door, don't let me the kids stay in it. So, you know, don't let them be by themselves. If you want to play, you guys can play downstairs in front of us right here while you're 10 years old. You ain't going upstairs. Hey, mom, hey, that are you guys okay? If I go in the room, would marry and close the door and lock it up because we feel we're going to be more productive here mom. Yeah, go ahead guys go ahead and close the door and do this.

Yeah, yeah, yeah, okay, we trust you so much. I think we're productive. They're going to be for the same bosses. It's not even them. They're going to play. What is that game? You know, Dr. whatever. So the point is to the bosses that actually bought into this, you know, to the bosses that actually bought into this,

to the bosses that actually bought into this and said, oh, this is a very effective method, really? Like maybe you want to be less productive. Maybe secretly you want to work from home, so you can tell everybody what to do, so you can watch more Netflix, so you can watch more. Do you know how often nowadays I walk by people, right? Even the environment here, or our insurance company. I walk by cubicles. You know how many nowadays I walk by people, right? Even the environment here or our insurance company.

I'll walk by cubicles. You know how many employees I'll see sometimes. You're just watching a movie while they're doing their work. You know how I'm sorry about that, Pat. No, no. I'm sitting on like, I'm like, what is this guy doing? He's flat out. I want to give names because people are going to go upstairs.

I'm like, what is this guy doing? He's watching a movie. What are you doing? Oh, we had an editor who would always have mistakes and things he would do with the... I love this guy. But every day he would watch three movies. You cannot stay focused and watch more. So if you're watching movies at work, if you're watching movies at work and you're watching shows at work, what the hell do you think people are doing their home? By themselves?

You think maybe listen, I'm gonna take a 20 minute nap, I'm gonna say I was at the restroom. Yeah, hey babe, come over. Why? I'm just two cares, I'm not gonna know anyway. Just come over, let's spend some time together. I mean, you know what, I'm gonna go over here next, why you gonna have a cup of coffee and take a three hour lunch break. I wanna, what do you think is gonna be happening? So, again, this is when being naive gets exposed and people no longer use logic to think someone's going to be more productive at home. Every article two years ago, your naïve was people are being more creative and productive working from home. I can't tell you how many presentations I got from managers that work with me saying Patrick,

we're going to do much better if we get people to work from home. No we're not. No we're not. No one is more productive working from home than be working from the office. Now, some people are independent contractors that do what they do in their based on projects and all the, fine, I'm not talking about that. For the most part, there's a reason

why workers have gone less productive. Not sure what. I think there's two sides of the equation here. There's a bad way. Yeah, go ahead. We could go, remember, we could go on the podcast. We talked about that software company where the engineers working from home pat they were using it as cover to have two jobs.

So you take eight hours in a day, but I'm paid for 16. I call that 50% productivity. Right. It's pretty tough. People have in two jobs. That's simple, simple math. Two jobs, paid 16 hours, worked eight, that's 50%. Well, I actually respect those people because they are bus and their

Asked two jobs we expect I mean most that's what is by the way this is where a percentage of people are doing that I'll give percent that's very crazy other 99% are working less but quick shout out to Paul E I know he's probably a listening right now if he's a not watching a movie But there's two sides this there's a productivity side But there's also the culture side of things right Could you imagine if I think that we hear a value team, and not only are we creating content and filming stuff and everything that you see the podcast, but there's also the other side of things. It's the culture that we're creating. It's the teamwork. It's the environment. It's the friendships. If you're doing that at

your company and everything's remote, there's no culture. There's no teamwork. There's no. Oh, we got this thing going on here once a month We do team meetings. You talked about Lincoln on leadership circulating the troops and come hey, man. How you feeling blah blah blah like that's also a part of a company. Yeah, so it's Not just a productivity. Yeah, going with each other, cup golf and getting outside, work, you have to be in front of the person to find out. By the way, listen, it's very simple.

If you wanna work in an environment where they wanna let you work remote, those companies are out there, go find them. Go find them. What not want? It's, I'm very okay with that, but for people, the same people that said, I don't know why

Maybe because they work so hard in 2020 and 2021. I can guarantee you People didn't work hard in 2020 and 2021 It's the least working years in the last two three four decades because they got away with everything working from home Ain't nobody very few people in 2020 and 2021 were working harder than they work in the 29 cars. Listen, it's, you cannot be productive if you're working and your bed is right there, the TV's there and the couch is there. Yeah. And the refrigerator.

And also, also the bomb is right there. Very close by. The alcohol people are coming over. Hey, you're doing a Zoom with them. Any reason why your eyes are so red. Yeah. It's just been a very stressful day. Yeah. Yeah. Yeah. Just woke up. Dude, you're doing a zoom with them. Any reason why your eyes are so red. It's just been a very stressful day.

Yeah, just woke up. Dude, you know what's interesting? The news media pushes the narrative of workers of the world, you know, leave them alone, let them work from home. They're going to be more productive. They put all this as BS. It was very, very interesting. There is a gentleman that ran the unfortunate amalgamation of Yahoo and AOL

that was bought by Verizon. And Pat, you know what he found? He found that the recent college graduates, so the ones that were like less than five years out of college Pat, they were always asking, when can, I'm working hard and I'm doing more, when can I get a raise? Oh, you can get a raise if I choose to promote you. How do I get the

promotion? And then they wanted FaceTime with their boss. They wanted to be seen. They wanted to be doing their little meetings and have their boss walk by and see that they were working with their team. That didn't work, working from home. And there is beyond the narrative of the news media pat. There were people that were just five years out of school that were not looking for Kush. They were looking to be seen and they wanted to know how they got promoted and they want to make more money because they weren't content with where they were.

And nobody wants to talk about this, but this stuff was happening. And my hat's off to them, but they don't get coverage. And when he said looking for Kush, he didn't mean marijuana, guys. He meant. He could mean marijuana guys. He meant He could a man. He could a man. Let's do this last story here. Let's do this last story. Yeah one and five that's in

Of us of those 20 to 49 is from excessive drinking study shows This is a CNN story the percentage of that's attributed to alcohol use variegated state very it stayed by state by Nash and Nationally, it's a leading cause of preventable death. Said lead study author, Marissa Essar, who leads the US CDC alcohol program, states and communities can prevent these premature deaths using evidence-based strategies to reduce availability and accessibility of alcohol

and increase its price. That can mean increasing taxes on alcohol or limiting where alcohol is sold. Essar added the CDC defines moderate drinking as two drinks or less in a day for men or one drink or less for women, two thirds women. Why are you using women? Isn't it like, it's offensive to use, but then it was two thirds of adults reported, report drinking more than moderate amounts at least once a month, Adam.

So this is one of those stories that I had kind of had to retry. So I'm like, what is, what are they trying to say here? And the first thing I thought of when they said reduce the availability and accessibility of alcohol, it's like, yeah, we tried that one time before. It's called prohibition. How'd that work out? Not so good. Okay. Let's not gonna happen. All right, we're now we're gonna start increasing the taxes on alcohol

or limiting. Or limiting. Okay, like it's not gonna happen. All right, we're now we're gonna start increasing the taxes on alcohol from limiting price. Tom. Increasing taxes on alcohol and limiting wear alcohol sold. It's like, how many, like, like, I've been in a nightlife business and I go out and all that kind of stuff like that. It's like, you go to a liquor store. What's the average bottle cost?

30, 40, 50 bucks. Okay, now if you wanna go by that same exact bottle of the club, that's gonna cost? 30, 40, 50 bucks. Okay. Now, if you want to go by that same exact bottle of club, that's going to cost you 300, 400, 500 bucks. If you want to buy it per drink, that's 10, 12 bucks per drink. It's like, whatever you do to go and try to figure out the price or the cost of the taxes, like people are going to drink. You're not going to figure that out. People are not going to stop drinking. People are not going to stop partying. By the way, especially during a recession, hello, we make COVID, COVID, so whatever ideas you have to limit people from drinking, not going to happen. However, let me give you the other side of coin, where I think that this, this idea can be implemented is harsher penalties for DUIs.

It amazes me, I live in South Beach. It amazes me that there is not a DUI checkpoint every single weekend leaving South Beach. It's fucking sit and ducks right there. You have no idea how many people are drinking. So you could drink as much as you want, party's shot. I don't give a shit. But if you get behind a wheel of a car, now you got a problem, man.

Okay, because if you drive a car, now you're endadering others. Obviously we're all familiar with mad mothers against strong driving. Like you should have to pay the price because you selfishly wanted to party have a good time. And now you're endadering other people We all know people that I've gotten DUI is pulled over but it's so puzzling these days when you see a Paul Pelosi get a DUI When you see a tiger woods get a DUI you see Justin Bieber Lindsey Lohan famous DUI is out there It's like have you not heard of Uber guys. Yeah, like what are we talking about here? Have you not heard of Uber guys? Yeah. Like, what are we talking about here?

Like, the average person these days can spend 20, 30, 40, 50 bucks on an Uber, not going to be a problem. Now you're talking millionaires and billionaires, we're not willing to get a goddamn Uber. Yeah. It's insane to me. So, harsher penalties for DUIs, but you're not going to limit people drinking. You don't think there's another way to go with the study though.

Like, that's a very small number of people. This says, I think it said, one in six people are binge drinking. The study includes deaths with vehicular accidents, but including alcohol poisoning and other health impacts such as liver disease. We just came off record high overdoses, right? Americans are overdosing, they're drinking too much,

they're overweight, everybody's on Xanax, everybody's on Zofran or whatever. Anti-depressants. When are leadership and leaders gonna wake up and say that there's something wrong with America that we've lost our way that we're not happy, we're unhealthy, we're drinking ourselves to death. We're overdosing on drugs. We're taken to like, you know, there's something other than just people going out and parting on a Friday night, right? People are depressed, they're lost, they're mental health sucks, COVID didn't help. COVID didn't help.

Yeah, I mean, if you want to include much, the opioid crisis with drinking, and now you're talking about two different problems that become one, obviously, that gets ridiculously way worse. Look, there's two ways to look at problems. There's upstream problems and downstream problems, and what you just just correctly pointed out the upstream problem. And I've said this before, here's an example, a small lake is polluted. The downstream

problem is, let's charge all the people in this community, $10 million to build a giant filter and clean the lake. Now, the upstream problem is, why don't we go up the stream and find out what's polluting the lake And we find out there's a campground and there's ashes and there's a lot of other things going on up there And we say bye if we just do a few things up here We won't be putting crap in the stream and it won't be polluting the lake. That is correcting an upstream problem This is a classic downstream story Stating communities can prevent these using a bababababababababababababub, but reduce the availability. Let's call it alcohol control, it's like gun control.

If we control the guns, we control the alcohol, we increase the price of it, we do all that. That's downstream. The question is, why are the people drinking? Why is there the demand for it? Or why are there mentally-during people getting their hands on a firearm? Those people shouldn't have a firearm. Upstream, you brought it up. The upstream problem is, is America is a stressed out,

overweight place, and being aware and helping your friends and I identify, that is how I deal with the upstream problem when I see friends or family that I think are overstressed or they're there, because I don't want them to self-medicate, I don't want to do other things. And so, your a good point. Your point is exactly right.

It's a good point. Good commentary. So, you know, let's go to the last one. In regards to DUIs, by the way, the solution for not having one, have a person with you, you, Zuber, a lot of feedback you gave would live. Now there's no excuse for not having a DUI today. When I was in the Army, Sargent told us very simply, if you guys gonna go out to the club and party, someone's gotta be sober. And God knows how many times that rule was broken. Luckily, none of us, we didn't get a DUI, but other additional

challenges did take place, especially when companies like Budweiser offering free designated dryers. Yeah, forget about that. It's just, I won't do this last story for two minutes before we wrap up, but we got the dream team call here. FCC commissioner says government should ban TikTok, okay? The council on foreign investment in the US should take action on TikTok, Brandon Carr, one of five commissioners at the Federal Trade Commission,

with more than 200 million downloads in the US along the popular app has become in a form of critical information infrastructure, making the absolunorship by the Chinese patent company, a target of growing national security concern. China's based engineers working at TikTok addressed non-public US user information including phone numbers and birthdays and bus feed reported in June by dance, which is the based in China instructed employees to push pro-basing messaging to US users of a news app bus feed reported

in July by dance plan to use TikTok collect information about US certain US users of a news app Buzzfeed reported in July by dance plan to use tiktok collect information about us certain us users according to Forbes report published last month let me say this part here I have zero trust in this company I have zero trust in their management team I have zero trust I created an account on tiktok and I'm going to tell you openly here the only reason I did is to give the things I believe in on the people on tiktok that are not being heard so I was talking at you the things I believe in on the people on TikTok that are not being heard. So I was talking, you know, China, I was talking capitals.

Anything that they don't support, I was talking about it. And gradually, you saw what messages they didn't like. We did one video on China. Prior to that, I did the numbers the other day with Kai. The prior hundred videos, I think some 10 of them got a million views, five of them got five million views, a bunch of them got a hundred thousand views, a prior hundred. The moment I clicked, put a video about China, after that, 400 videos on TikTok, only

one of them got over a hundred thousand views, zero over 50,000 views, 400 videos. Of those 400 on Instagram, They all performed, okay? But only one got over a hundred thousand views as to Antonio Brown clip Tik Tok is a gamified company I'm we're supposed to stuff because we want them to be held accountable on what they're doing But this company is one president away from being banned in America The current president doesn't have the audacity to do it because he needs those 1918 new TikTokers that are making videos saying good things about him.

If he bans TikTok game over, but the next president's gonna have the audacity. TikTok is one president away from being banned in America that can happen in 2024, 2022. That's how I made a great point on my podcast because we were talking about all these challenges, the Kia challenge where you just steal a Kia and kids are crashing and dying and you know the tight pod challenge

and you were saying it, they're dumbing the night pool challenge. The night pool, Tom, they're knife challenge. They're making our youth and not knowing the attention span this short, but dude, they're literally making our kids poison themselves and kill themselves. And it's like, bro, I'm not a fan. Someone's a leader eventually is going to have the audacity to shut him down. I can't wait for that day. I got to wrap up. Quick thought, just on this.

And what's the name of the Chinese TV station in America where you can watch all the Chinese stuff? Oh shit. It doesn't exist. It's my point. I was just like, okay, media is a thing that countries use to control narratives in populations. Social media is even more precise and the algorithms

that social media can do can target you. You know all day who to target what to say. There's no reason to take talks. You gotta wrap up. Listen folks if you enjoy this give us a sub. If you want to be at our 500,000 subscriber celebration live sub and I would say send us a text message at 3104, 310343, do you know the number? Give me the number. 310340132, one more time, 310340132, text us and put podcast. Text us and put the word podcast. We'll add you to a list of moment we're selling tickets for the live podcast. You're going to get podcast will add you to a list, the moment we're selling tickets for the live podcast, you're going to get a text, but Texas one more time, the correct

number since I butchered it at first, 310, 340, 1132, send us a text if you want to be added to the list of the first live podcast, but I think it's going to be limited to 100 or 200 seats, but we're looking forward to you joining us on our 500,000 subscriber celebration on the podcast. Take care everybody, have a great weekend. Bye bye bye. 200 or 200 seats, but we're looking forward to you joining us on our 500,000 subscriber celebration on the podcast. Take care everybody. Have a great weekend.

Bye-bye.