PBD Podcast - Kevin O'Leary EXPOSED for flip-flopping on bitcoin & FTX | Ep. 230 | PART 1

Episode Date: January 27, 2023

On this episode, Patrick Bet-David and the home team will discuss: Goldman Sachs's shocking housing prediction  Patrick Bet-David's best tips for investing  Drinkable covid shot  ... FTX being exposed for supporting the democratic party in the 2020 election  Kevin O'Leary being exposed for flip-flopping on bitcoin & FTX Protect and secure your retirement savings now with this complimentary precious metals guide. Go to http://goldco.com/pbd FaceTime or Ask Patrick any questions on https://minnect.com/ Want to get clear on your next 5 business moves? https://valuetainment.com/academy/ Join the channel to get exclusive access to perks: https://bit.ly/3Q9rSQL Download the podcasts on all your favorite platforms https://bit.ly/3sFAW4N Text: PODCAST to 310.340.1132 to get added to the distribution list --- Support this podcast: https://podcasters.spotify.com/pod/show/pbdpodcast/support

Transcript
Discussion (0)
Starting point is 00:00:00 I Did you ever think you would make it? I feel I'm so sick it takes sweet the theory I know this life meant for me Yeah, why would you bet on the life when we got bet David value came in giving values contagious? This world of entrepreneurs we can't no value to hate it. I'd be running home. You look what I've become Okay, so it's home to you today with sauce, Vinny, Tom Ellsworth and Malik, aka, right in the house we got a lot of stories to cover with you. Adam took me to a wonderful dinner last night. I'll tell you about it. Any time.
Starting point is 00:00:47 Just an incredible dinner. Adam took us to, at this point folks, I do have one warning to all of you in a suggestion. If you guys want to live a peaceful life, one of the things that's starting to happen to a lot of people I suggest you start thinking about this as well. Whatever you do, just go look around your house to see if you have any classified documents.
Starting point is 00:01:07 Because at this point, I'm concerned I may have some class. I'm sorry, I did not plan. I was looking in one of these. Look at what? No, I'm dead serious and look. Because Hunter was here. Oh, hard here. He was even here.
Starting point is 00:01:22 By the way, Pence, you know, Biden, you know what it is. I bet there's people in politics that are pissed off. They're like, dude, can you just put something in my, because I want to get some publicity. Yeah, put something here for me to say, I'm turning in my class by documents. More is coming out. God, you know, men's, yeah, Mike Pence are. Everything's really not solid. Christian vice president had some class by documents. So he joined the camp
Starting point is 00:01:45 We'll talk about that Goldman Sachs says four cities will suffer a 2008 crash type in home values If you are from those four cities, don't listen to these podcasts if you want to know stick around We will share it with you biggest pay raises went to black workers Young people and low wage earners according according to Wall Street Journal, interesting. We'll talk about that. Paul, 64% say Biden handled classified files inappropriately. Apparently Trump is back on Facebook and Instagram. And obviously Twitter was a couple months ago,
Starting point is 00:02:17 but now it's Facebook and Instagram. Yesterday, Project Veritas sat down and got a chance to sit down with one of their directors that talked about what they want to do with the vaccines and the guy opened up and he says, you can't tell this to anybody. And someone said the way they got the date with this guy was through Grindr because he really interesting. I'm telling you, really, really interesting story.
Starting point is 00:02:40 Oh, yeah. That's not a joke. That's not a joke. That's a serious. That was one of the ways that they got the guy to open up because apparently he felt comfortable. Google's going through mess right now. Taylor Swift, maybe we'll cover that.
Starting point is 00:02:52 Obviously the antifa, if we have time, we'll cover that. Amazon warns employees not to share confidential information with chat GBT. After seeing cases where its answers closely matches existing materials from inside the company. Jeff Bezos may sell Washington Post to buy commanders as if he needs to sell it to buy commanders. Pfizer CEO Albert Boria, rough week for this guy, seriously, refuses to reply in prompt to questions, put forth by Rebel News, maybe we'll talk about it. Scientists are working on a COVID vaccine you can drink.
Starting point is 00:03:27 By the way, this is a CNET story. This is not like a joke. Scientists are working on a COVID vaccine you can drink, especially those of you that love vaccines. This is great news for some that won more of it. And then, you know, some's going on with Andrew Tate. You know, he, he, he, he, he, he, he, he, he, he, he, he, he, he, he, he,
Starting point is 00:03:42 he talks about cockroaches, lice and bed bugs. Or my only friends, I don't know if you guys saw one. They got it yesterday He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it.
Starting point is 00:03:51 He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it.
Starting point is 00:03:59 He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. He can't just do it. Anyways, let me first give a quick shout out to our sponsors, Masterworks. I'm really excited about this company. We chose to team up, but if you want to show this year, here's how art is done over the years. A lot of people ask me questions and they'll say, Pat,
Starting point is 00:04:11 how could you buy baseball cards? And I'll say, how could you not? I mean, the only reason you should not if you don't know how this works. But art and cards are very similar. When you look at alternative investments today, you will see the goldmins of the world, the black rocks of the world, the Morgan Stanley's of the world, a lot of them are
Starting point is 00:04:27 starting to look at alternative funds, meaning art that you can buy. What masterworks did love their model. I believe they have 600,000 users right now. 600 million dollars of assets under management. Last year was a record breaking year in arts being sold ever in the history of America, $18 billion folks of art was sold last year. When you look at the inflation, last time it was this high was 1977 through 1982, the art 100 index appreciated 130% during that time from then to now, and inflation 80%. So this is something for you to consider. Contemporary art annual average right now
Starting point is 00:05:08 is appreciation is 13.8%. If you wanna learn more about it, these art pieces that they have, it could be Banksy, it could be Picasso, you're simply buying a share in the art that they're selling. So if you can't afford to buy a $3 million piece of the art, maybe you own one share to $3 million, just the same way you buy Apple or Amazon stock,
Starting point is 00:05:26 you buy a stock into the art pieces day by very straight up model. It's qualified with the SEC. I suggest you look into this for yourself before you make any investment. So if you want to learn more, let's put the link below. It is not open to everybody, but there are loud folks to come in. If you are a value-tainer, there's a link specifically through value tim. And that you can go in, check them out, and if you feel comfortable, consider investing with masterworks. Having said that, let's get right into it.
Starting point is 00:05:50 I'm, it's funny you say that, and this is totally random. I bought a Biden, when the Hunter Biden's paintings, 200,000. Really? When the hold on to that. Well, good for, I don't know if they're going to have that kind of a painting, but this is actually real stuff that they're doing. And people are truly like investing into art today. Tom, what was the story you told me about the one art piece you bought? And you sold it and what's the value today? It's a warhol, I believe. Yeah, so warhol.
Starting point is 00:06:12 And by the way, happy birthday Buzz Aldrin about a week ago. Second hand to walk on the moon. It's like 92 years old. I also got married. That was a great set they had. Go ahead. He was the astronaut. That was the... Oh, I. Go ahead. He was he was the astronaut. That was
Starting point is 00:06:25 the... By the way, don't go there Pat. You know, second guy to be on set. Second guy to be on set. Now we're gonna be brand new. Remember what you're doing. Remember, we are not that. But you're never buzz all-dreamed and Beverly Hills punched the guy who said that. Yeah, we said to put it in the Bible. That said the original the original logo for MTV was actually Andy Warhol print First man on moon remember that okay, and that was Buzz Aldrin Photographed taking by Neil Armstrong rub keep that pinch. So I bought I bought the moon it's called moonwalk and there were Yep, there it is my yeah, of course course MTV he made two of them one was in yellow one was in pink I I owned the yellow one bought it for 10 sold it for 17 million dollar
Starting point is 00:07:13 thousand dollars and by the way that was back in 2000 2002 and then this thing had an auction who are an identical pair that were the same number because there's only about a hundred of each made along with artist proofs And these things went for 400 grand for a pair How long ago was this six years ago? No, this was Christie's last year. Okay, got it I owned it in 2000, 2002 So that's the part about our time, you know, it's your point of death skeptical and then you buy you sit on it And then all of a sudden it goes from 10 grand to four when did you buy for 10 grand?
Starting point is 00:07:44 2000 and then I sold it in 2000. In 22 years it went from 10 grand to 400 grand. But look what I was thinking. I bought it for 10 sold up for 17. I'm thinking 75%. Yeah. It was a simulation happened to me with a cobalt. A original war hall.
Starting point is 00:08:00 Yeah, it's one of the originals. Wow. So, in a way, shout out to Buzz Aldrin. How much? I'm talking about how much younger is his hotter is his wife. Well, listen, she probably sister says that thisals. Wow. By the way, shout out to Buzz Aldrin. How much? How much younger is his hotter is his wife? Well, listen, she probably says this guy can land on Dumont. I wonder what he lands with me. So I'm curious to know where this guy is going.
Starting point is 00:08:13 I'm a rock your world girl. He is good. Land on my mood. You said something earlier. What did you say? There was like, it was, you know, we all are familiar with the S&P 500 and the NASA at least. He's going to the moon. 100?
Starting point is 00:08:25 Yeah. That's an index. What is that? It's a fund. It's a fund. There's a gold fund. There's a currency fund. There's even crypto funds nowadays.
Starting point is 00:08:33 There is an art fund. This is a real thing, by the way. So it's not like just, you know, whenever you see billionaires going into art and kind of seeing what you ought to just pay attention to it. You ought to just say, let me see why they're doing it. Now, if you're not a billionaire, you don't have that kind of money, but maybe you've got 5,000, 10,000, 100,000 and you're thinking about buying a piece of a bank see or a Picasso.
Starting point is 00:08:53 This is one way to get in. Anyways, let's get into stories. Let's get into stories. Let's get into stories. Let's see. Let's go with Goldman Sachs. That's the story I want to go into first because it's economy. So let's look at this.
Starting point is 00:09:06 Goldman Sachs as four cities will suffer a 2008 crash in home values. The stories from a couple days ago, they predict that home values will worsen through 2023 due to skyrocketing interest rates and declining housing prices, the firm predicts that San Jose, it's a lot of sands. San Diego, Austin and Phoenix will see the most drastic decreases of over 25% similar to 2008 just in 2023. Goldman Sachs expects interest rates to remain at elevated levels longer than currently, priced in which the 10-year treasury yields-kink in 2023 and raising their forecast
Starting point is 00:09:46 for the 30 year fixed mortgage to six and a half percent by the end of 2023. The bank states that these cities will suffer the lowest prices this year because they become too detached from fundamentals during the COVID-19 pandemic housing. Boom, Tom, what are your thoughts on this? Well, Pat, this is what we've been saying, isn't it?
Starting point is 00:10:02 And this is just the first set. Now Goldman Sachs has said, here's the first set. And these are the ones that are gonna fall the farthest so they're easiest to predict. Now, there's other places in the country that are stable. Like right now, Florida's prices are stable kind of down 4.5% what I was reading.
Starting point is 00:10:19 And it's because there's still enough demand in Florida to keep them there and there's not supply to push it down, but the transactions aren't happening. So this is just the beginning of what we've been talking about for nine months. The interest rates, the over price market, and now here it comes, it's coming back.
Starting point is 00:10:37 And the question is, the reason you have a crash, why do you have a crash? Because the price will fall until someone says I'll buy it. That's how an inverted auction crash works. Is the prices keep dropping until somebody says, you know, I'll buy it. Just like the price of art will keep going up at an auction at Christie's until somebody says,
Starting point is 00:10:56 I'm out, that guy can have the painting. It's the exact same thing just in reverse. We saw this coming, we've been talking about it for a while. Rob, can you pull this up? I'm about to send this to you Adam. You can give some thoughts on how he brings it up. Go ahead. Yeah, well, I actually kind of took a look at why these four cities. We've all seen what's happening in South Florida, especially in Florida, you know, what goes boom, must go bust, except for I think in South Florida. And where I'm kind of going with this is
Starting point is 00:11:21 East Coast versus West Coast. Everyone on the East Coast, anyone in the Northeast, and if you're New York, Boston, Jersey, everyone is coming down to South Florida. They call Miami the sixth borough. Because they're not going to Atlanta, they're not going to South Carolina, they're not even going to North Carolina, some people are.
Starting point is 00:11:37 But everyone on the East Coast says, screw it, we're going south to Florida. All right, cool, so we can put that aside. Everyone on the West Coast, there's so many different options out there. If you're in California, you can go north to Oregon, you go north to Seattle, you go a little bit further east. Now you're in Vegas, you go south, you're in Texas, like there's so many different options out there. But each of these four cities, I was kind of going through this with my buddy, Joe, who
Starting point is 00:11:59 is here today, shout out to Joe. And each of these cities have actually a very nuanced approach. So if you're looking at San Jose, San Jose is what? 20 minutes outside of San Francisco. Hello tech jobs. We're seeing what's happening in the tech space. Microsoft, Google, you know, the list goes on and on about how many people are getting cut from their jobs, 10,000 jobs being cut. Okay, so that's tech.
Starting point is 00:12:21 The Austin same thing with tech, right? Is Austin a tech bubble as well? Yeah. and it's also, what do they say, keep Austin weird? Very important. You're making. Yeah. Yeah. And then they call Austin Texapornia. Texapornia. So, and then obviously everything that's going on in California, shout out to Gavin Newsom for the being the you haul employee of the year for the two years running. Shout out to you. Amazing with him MVP. California politics, the cost of living, it's crazy. San Diego, weird city, beautiful city, expensive though. Why are you moving to San Diego?
Starting point is 00:12:51 What's the industry in San Diego? Last but not least, this is something that could raise a different conversation, Phoenix. How much of that is immigration? How much of that is immigration? Basically, people say, yeah, I don't like what's going on here. And Phoenix, so each of these cities are very weird, but back to your point, Tom, the underlying tone here is interest rates, inflation, cost of living, for sure.
Starting point is 00:13:14 But then there's a multitude of factors. That's a good point. I would say, stay classy when you talk about San Diego. So, can we go to the... Oh, well, we can go to this story here. So if you can show this... That's what you said, by the way. Yes, well, we can go to this story here. So if you can show this, that's what you said, by the way,
Starting point is 00:13:26 yes, we talked about what we believe. We'll talk about that story with her, maybe. Anyway, so this is Bloomberg. So we want to show both sides of the story. Bloomberg shows in housing demand climbs as the US market starts to show signs of life. Great. Show for those that are on real estate.
Starting point is 00:13:41 This is a plug for you. Go and zoom in a little bit so I can read exactly what it's saying in the description. If you can't do it, okay, there you go. Perfect. Housing demand is starting to show signs of recovery with pending sales of US home prices, home rising for the first time in more than a year according to a new data from Redfin. Pending sales climb 2.9% in December on a seasonally adjusted basis.
Starting point is 00:14:01 The first month over month increase since October of 2021. Redfin says on Wednesday, other measures of demand, including data on brokerage customers, requesting home tours and people contacting the company's agents are up from November, read more at the link in the bio. So go to the bottom now and let's see what people say. I want to read the comments now. If you can zoom in a little bit so it says, it says first one did a real to write this number two Don't do it next one. I was literally going over data last night that shows the opposite next one
Starting point is 00:14:31 This is completely false on all sorts of data Austin, Texas is not having any issues like Bloomberg posts every week You'll be broke believing everything this page posts lol. It's lol so contradictory I mean by the way It's like 99% of the comments are saying you are full of shit is what they're saying to bloom, right? So listen, here's what we're gonna know. What we're gonna know for sure is by the end of the year. My, the way I measure real estate is the following way.
Starting point is 00:15:00 As the average real estate agent, the other day I was on the play Travis and Buck's show, which is great. They're great at what they do and we're talking about the economy. And I said, you know, if you want to measure how good real estate is doing, ask a realtor and ask him, how do you think 2023 is going to do? You know what their answer is? It's great.
Starting point is 00:15:18 No, no, no, this is their answer. They'll say, well, I think 2023 is going to be a flat year. It's what's going to happen. And I think 24 2023 is gonna be a flat year. It's what's gonna happen. And then I think 24, 25 is gonna be great year. If a realtor, who's very motivational wakes up every morning listening to motivational videos, tells you it's gonna be a flat year, it's gonna be a down year, okay?
Starting point is 00:15:38 Because that's just how these things work. If they tell you it's gonna be freaking great, sick, it's probably gonna be okay. So flat your means, just, you know, if you're gonna sell, and you're gonna, if you're gonna live in your house for more than five years, you have nothing to worry about. If you're gonna live in a more than 10 years, you're already in it. But if you're debating, leaving, six months, 12 months, 18 months, don't be too greedy right now. You may want to consider selling your house.
Starting point is 00:16:01 And if you're about to buy a place, if you're about to buy a place, we're gonna buy this building down the street for, they were in it for 54 million. You know what I'm talking about? 150,000 square foot building. We go and we look at it, the guy says they'll take 32 million right now. I said, I'm not doing 32.
Starting point is 00:16:15 He says, don't offer anything less than 28, it's offensive. I made an offer of 26. That's right. By the way, they walked. That same building we made an offer on six, seven, eight months ago. They were in the house. Yes, and the building yesterday upstairs when you came in. Oh, that was that the good first Well, you know what Vinnie does let's Vinnie Vinnie out of everything. I'm having a serious business meaning this guy's working on a skin No, the cheer what he did Disguise
Starting point is 00:16:40 Show me the video. Yeah, he comes in with a briefcase Oh, he comes in with a briefcase saying Pat, where do you I'm gonna leave the supply they just dropped off? He opens it up. It's a bag with sugar in it that looks like cocaine. Did you understand what I just said? He showed me the video. Second floor is serious business Vinny. First floor is shit.
Starting point is 00:17:00 Hey, homie, it wasn't serious people. Are you kidding me? That guy has a half a billion hours of real estate You know what somebody in here was like no Vinnie go mess with And it was a long story short. I talked to the guy so now the same property They wanted 50 that went from 54 to 32. You know what they're willing to sell it right now $20 million so I made a $50 million offer But here's the data took to 26 they should have taken 26 out about it
Starting point is 00:17:23 Pad didn't come in in the me showing up with By the way when I tell you beautiful building. I mean beautiful time. Is it a beautiful building or a beautiful off crystal clear Building everything immaculate, but so we're gonna find out what's gonna happen to real estate I'm giving you commercial real estate. I'm not telling you residential. I'm giving you strictly commercial But we're gonna see what's gonna happen real estate next 12 stay next 12 months. The reality is someone's gonna be right. A lot of people can make a big question. I mean, I think I have your cocaine story. Did my fake cocaine story, like me coming in,
Starting point is 00:17:52 mind you, it wasn't for you. I came in and I said to HR, I go, guys, I'm sorry to interrupt. I go HR, a delivery from some Bolivian guy. And Rob, HR is like, get the fuck down. Get on, Pat, your Pat at least Pat was like, they told me down here, it wasn't like really serious. Who ever told you they check it with somebody before you walked into a business meeting.
Starting point is 00:18:11 Yeah, anyways. Can I ask you a question, whether it's real estate or investment, something that you always say repeatedly is, listen, if you're gonna be living there five years or longer, 10 years or longer, it's fine, it's fine, it's fine, right? And something that I say,
Starting point is 00:18:23 there's a difference between saving and investing. Saving a short term, whether it's 12, 24, 36 months, anything less than that, save, save, save, save, save, keep it short term. Five years or longer, I would put it in the investment category. This goes to the same for housing. How do you determine where to stack your cash,
Starting point is 00:18:39 saving wise versus investing? Is there a rule of thumb? Is there a time frame? Is there a horizon? How do you process that? Whether it's real estate, whether it's art, whether it's cash, whether it's investments, how do you, how do you,
Starting point is 00:18:52 should the guy sitting next to me, and say, is like, have you gone into NFTs yet? I said, no. Did you ever get into NFTs? I said, no. Wait, so you're a YouTuber and you didn't get into, I said, first of all, I'm not a YouTuber. I'm a business guy.
Starting point is 00:19:04 I run companies, but no, I never got into NFTs. You know how much money people made in NFTs? I'm clearly aware of the people who made the money and I know the thousands who lost a lot of money. What's gonna happen in long term? I don't know. They deliver on their utilities, et cetera. It's a 97% NFTs or waste of time anyways.
Starting point is 00:19:22 Then he talks about crypto. How about Bitcoin? How about this? For me, my philosophy is simple. What I know a lot about, I comfortably invest in. I will gladly deploy 5, 10 million dollars on baseball cards and not even flinch because I know what I'm buying. I know the product I'm buying. You've seen me do it over the years. So it's not like it's a, you know, so I'll deploy that no prompt. Areas, I'm not an expert. Guy asked me question yesterday saying, so what should I do to increase my rental income in the amount of properties I buy? 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, 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, companies is what I like. When I was getting started at 21, 22 years old and I had no clue what I was doing,
Starting point is 00:20:09 I opened up a mutual fund account and I started with a hundred bucks a month, okay? And I opened up a VUL and I put $100 a month into it. That's when I was broke and I money would just go and gradually I would raise it from 100 to 200, to 200, to 300, 300 to 400, $500, $1000 a month. And then one day you wake up you're like wait I got 360 thousand dollars in the secound that's kind of cool
Starting point is 00:20:28 how did this happen to me yeah yeah I always kiss and and then you're like okay what can I do with this and then you get a little bit more and more and more sophisticated because people are dealing with additional things as well today when you're looking at your money it has to do with your age your risk tolerance at 64 should not be the risk tolerance of a 42 year old and shouldn't be the risk tolerance of a 22 year old. Those things vary, ages vary. The other part about when it comes on to this is time horizon. You got short term, mid term, long term. What portion of your money do you need short term?
Starting point is 00:20:58 If your daughter is getting married in two years and you need to be paying for that wedding and it's going to be a couple hundred thousand dollars or a hundred thousand dollars, you need to set that money aside because that time is coming. If kids are about to go to college and they don't have the GPA to get scholarship, you need that money to be set aside to be paired. That's short term. Midterm again depends how all your kids are, depends if you're married, depends any of that stuff, and long term, long term.
Starting point is 00:21:20 Then the last thing is with your money that you have, you sit down and you say, which portion of my money am I comfortable losing a hundred percent of? That shouldn't be a big percentage. You could say only five percent, fine. So if you're five percent is a hundred thousand dollars, fifty thousand dollars, twenty thousand dollars, a million dollars. You can afford putting in risky investments that you may lose all of it, but you cannot
Starting point is 00:21:45 lose sleep. So if you're the kind of a person that will lose sleep, if you lose that kind of money, don't do it because it's going to mess with you. Only do it if you know your temperament. Investing is very different for different people. It's different for you than my temperament, than his temperament, and his temperament. People come to me and they say, why are you always sitting on so much cash and why are you not deploying it? You know how much money that's costing you? I
Starting point is 00:22:06 said, that's my temperament because I'm able to invest that money right now. We're the conversation we had yesterday in the office time. Was it upstairs or I don't know. Yeah, it was upstairs when we're having a conversation. One conversation went from me agreeing to want to put $7 million into one project that will probably end up being a $12 million project. Another one I'm deploying $19 million into the project of my own money.
Starting point is 00:22:27 But these are things I am very, very comfortable doing because of my temperament. Don't let somebody's aggressive, big vision, big thinking temperament work in 60, 80 hours a week and influence you on what you should do with your temper with your money when yours is more chilling out. So it's not a one shoe fits one size insult. It's not.
Starting point is 00:22:48 You got to kind of figure out what's for you. Let's transition to the next topic because we got quite a few more. I just want to give a quick response. Number one, you know things are doing well in your life when you use the word deploy. I'm deploying this investment. I'm deploying this.
Starting point is 00:23:00 Or you were in the military, lived in the middle of these, in those worst gear. We're deploying a separate tank. We're deploying a severed tank. We're deploying troops. But just to your credit, we were talking last night with my good buddy, Chris, and he's talking about the restaurant industry.
Starting point is 00:23:12 And this and that have all these franchises. And you said, you could have gone any response. He gave you a whole like kind of dissertation, and you go, hey, that's not me. Just not me. I could put, I could deploy $5 million for whatever. And you're just like, it's not me. It's just not me. I could put, I could deploy $5 million for whatever. And you're just like, it's not me. The hardest thing to do when somebody's pitching you,
Starting point is 00:23:30 pitching you, pitching you, is be like, I'm good. I'm good. No, it's not for me. So easy to be like, oh, tell me more. It's sexy. I don't know, can I make money? It's very hard to be like, no, it's just not my lane. Stay in your lane.
Starting point is 00:23:42 By the way, and that leads me into this next story. I'm going to go to page number nine story, okay, which is scientists are working on COVID vaccine. You can drink. Final. Okay. Finally. So let me read this to you.
Starting point is 00:23:55 A new type of vaccine. This is a CNET story, a new type of vaccine called mucusal vaccines, which can take, can be taken as a swish and swallow oral vaccine or nasal vaccine is being developed and could be available within a couple years. The QYNDR, as if we need another acronym to remember oral vaccine developed by the U.S. specialty formulations has completed. It's phase one clinical trial and is waiting on funding to proceed to more advanced trials. The vaccine is designed to survive the digestive system and induce the appropriate response. The vaccine is designed to survive the digestive system and induce the appropriate response.
Starting point is 00:24:27 The clinical trial results from New Zealand are promising and offer hope that the vaccine will be available a viable option for protection against the current COVID-19 variants. However, in order to get the vaccine to be advanced to additional clinical trials, funding from investors is needed. OK, so if you guys wanted to invest this to story from CNET, you can go look into it.
Starting point is 00:24:46 When you hear something like this, what do you think about? You know, for me, if this is a business model, you know, like CBD, okay, or THC, or you say, so now what are we doing? Let's talk about it from strictly to business model standpoint on what Pfizer's doing, what these guys are doing.
Starting point is 00:25:05 I don't smoke weed. I probably should, but I don't smoke weed. Okay, I don't drink coffee. Thank God I don't. You don't want me to drink coffee. I shouldn't drink red bull. Monster, what else is there? Any of that stuff?
Starting point is 00:25:18 Don't get it close to me. Okay, one time we tested my urine and they said, this is the closest thing to red bull. It's what they said. That's a joke. It's not so good. You don't need more. I don't need any of it, right?
Starting point is 00:25:29 But you know, wheat is a different story, right? So anyways, since guys like, well, you know, we're selling wheat oil now. Cool. Hey, just guy says, you're having lower back pains, try the CBD oil to put on your lower back. Like, does that mean my back is getting high? What does it mean?
Starting point is 00:25:45 Here's fine. Hey, if you're, if you're, try these gummy bears, okay, or try these cookies, or try this, right? Anyways, what's the point? If it's legal and you're finding creative ways for people to be able to buy that, guess what? Credit goes to, to the team that is getting creative. So if vaccine is one method is what?
Starting point is 00:26:07 Shot. And they wanting to go on this site from the standpoint of innovation on how to get it into the system, fine. You can tell them good for the team that thought about this. Now, the other thing you have to pose and ask the question is, level of trust,
Starting point is 00:26:23 how comfortable people are about it, is it something where the timing is good right now to announce it, is it becoming to the point where everybody is in the camp of yes, I'll take it, I don't know. What are your thoughts? What are your thoughts when you heard it? I think the fact and from what we saw that they scared. I don't think I've ever said this, please raise Vinny's audio by about 5%. Oh, you see, that's a fourth person. You guys hear that? Because he lowered it by 10%. Finally, you're yelling about your drug deal. But well Pat think about it
Starting point is 00:26:47 legal and as a business standpoint what what they did with Fauci and everybody The government they scared the shit out of everybody. Yeah, so and you we all know these happen people They're like another booster give it to me give it to me give it to me. I give them props just now they they have their their loyal Brainwash customers now just another delivery system like said, if they say there's a vaccine shampoo, I guarantee you people are just the more the better. And as we're finding out that the science hasn't been tested long enough to find out if it's going to affect you, which I think we're seeing that people are dropping left and right.
Starting point is 00:27:24 They don't give a shit. Just give them more, give them more. I give them props as the seller, but as the people, people need to still wake the hell up. Yeah, what do you think? Uh, well, there's two things I see here. I see a startup business in biotech that's talking about clinical trials, advanced trials. Yep. In other words, not operation warp speed. Doing something over the course of time that, that medications and vaccines have been tested in history, not
Starting point is 00:27:46 this BS acceleration that we had along with Amnesty or the vaccine makers. I see that on one side. The other side, I see a glaring hole in this business model. If I was an investor, I'm sitting there, I would say, so you think there's going to be a long-term market for COVID vaccines. So you think COVID is here to stay, and all the mutations are here to stay. You think there's a long-term market. Now I'd be sitting there thinking they're saying, wow, you know, if there's really a long-term market for this, then unlike swine flu went, bird flu
Starting point is 00:28:15 one, remember HV, whatever it was, bird flu, it kind of came and went because there was, it ran the cycle, it ran the human cycle. And what have we heard about swine, the bird flu, Southeast Asia, last four years? Yeah, gone. It's not gone, but we don't hear about it anymore because it is not affecting the mass of society. So I look at this and I say, so there's really going to be a long-term market on COVID. Are we the lab rats?
Starting point is 00:28:44 Somebody out there mutating this so that they can sell product? We're finding out that they are, though. Last night we're sitting at this wonderful event with Adam. And so sitting across this guy who was a follower of the podcast, great guy, 37 years old, successful guy, solid guy, good looking guy guy and he says, you know, Patrick 99% of what you say I sit on I say yep, I agree. Yeah, he's probably let's say yep, I agree Yep, I agree But there's the one part where you're not for DMT's and not for psychedelics and all this stuff I'm like dude we gotta get Patrick on psychedelics. I remember I've never been a drug guy never smoke
Starting point is 00:29:22 We never did this never did that 34 years old, I went through bad breakup. First time I did, you know, psychedelics. It was life changing for me. I said, that's awesome, man. Very happy for you. So then the guy to my left is like, your personality, I know, you probably would never do psychedelics. But maybe you would.
Starting point is 00:29:37 So I'm like, okay, here we go. So now I'm invited to a party where everybody wants to get me to do psychedelics. Okay. Great. Fantastic. Another great party that everybody wants me to do something. So then this girl shows up. Hi, hi. Two eyes.
Starting point is 00:29:53 So look, we're trying to get Patrick to do psychedelics. So why don't you try psychedelics? She says, do you follow science? I said, define that. Fauci. But no, no, she literally says, she says, do you follow science? I said define that. Fauci. But no, she literally says, she says, do you follow science? I said, can you define that? Because it's been a little bit confusing.
Starting point is 00:30:11 She says, don't science. I said, well, if I have to trust the science, that means I have to take vaccine. And no, I don't trust that science. But what do you mean by science? She says, well, let me ask you a different question then. Do you trust the FDA? No.
Starting point is 00:30:24 She says, what do I, she says, what do you believe in? I said, so what do you believe in? She says, no, I'm asking you to question. I said, no, I wanna know what you believe in. Why believe in spirits, collides and I believe in, you know, certain, what she says, she said something like this, like, you know,
Starting point is 00:30:44 and that that energy, if I can have my energy, I can give it to us, and I agree with that. And I'm saying that, so I agree with that. She says, so now I'm going to ask the question, what do you believe in? I said, I believe in God, I believe in good relationships. I believe in never compromising your values and principles that fully believe in your convictions, don't convince everybody to buy into your vision, not everybody's gonna understand your vision. And then she says, well, you know, she says, so you would never, you would probably never do it. She says, what if I bring you an expert that gives you all the data and all the articles, all of it that proves that psychedelics are good for you? I said, I'd love to have him debate somebody who's a doctor and a scientist
Starting point is 00:31:22 who has articles that that scientist is not showing. Yeah, that opposes. Why psychedelics? Maybe you're in good for you. And I would listen to that debate and I would make up my mind at the end. She's, you just sound close-minded. Oh, God. And then Adam asked a question and says, She'll tell me about you, you know, Adam's trying to be sweet self.
Starting point is 00:31:38 So he says, so tell me about yourself. So are you married? Do you have kids? I don't know what you're as. Are you mean? She says, you would never ask Amanda question and then Adam says I actually would Yeah, why are you so defensive? Yeah, so she is now turning red oh god, so I'm talking to my boy here
Starting point is 00:31:57 I'm having a really good time with this guy because we're talking about trying to figure people's personalities based on when they're born Second-Hellic guy or this? This guy's a chill guy. He's a guy with Deepak's team for one of the two. Deepak's team. Really enjoying him. He's half Persian, half Venezuelan, half all this stuff. Little wig. And he, yes, sweet guy.
Starting point is 00:32:15 Great conversation. And I'm, now I'm like, okay Adam, I'm gonna take off man. I'm gonna go home. She says, oh, I'm so sorry, did I say, I said, no, yes, listen, my life is too great for you to upset me. Thank you so much. It was great talking to you. I'm gonna take off.
Starting point is 00:32:28 And the entire time was like trying to now redeem herself from this high quality. Here's the point. She seemed like a sweetheart. She's just been fed, because she's from what was she? Maryland, venture capital, she travels six months, all this other stuff, right? In that world, you trust science.
Starting point is 00:32:47 In the world and the life I've lived, you trust a bit. You trust people debating because if you've lived my life, that's what I trust. I trust two experts who are 100% convinced they're right. Let them hash it out. One of the things I said last night, I don't know if you remember this, I said, you know what we've learned the last two and a half years? She said, what? I said, experts using data have forced all of us to believe in what they're believing in. And they've divided the world. So I don't trust experts that use certain data they want to choose to validate their arguments. I kind of want to see both sides. I like the bait.
Starting point is 00:33:22 And then it was done with discussion. We moved on. Was she good looking? Was she at least good looking? She's doing okay. She was all right. I'll tell one story and then I'll circle back to what you were saying back to the drugs and the sampling and all that. So there's this, it's sort of, if you're in a nice dinner, it's like a very
Starting point is 00:33:40 exclusive type of situation. You're not trying to offend people, but there's this like contentiousness and I don't know how it got directed at Pat. What do you believe in? No, what do you believe in? I'll tell you what I believe in. Let me tell you what I believe in.
Starting point is 00:33:51 She goes, okay, go ahead. I go, I believe that the children are the future. And by the way, I say the next line. I'm like, you gotta teach them well. Let them lead the way. And let them lead the way. She doesn't get it. She doesn't get it.
Starting point is 00:34:04 She's like, okay. She doesn't get what you we keep going. I'm like because what you have to do I love you have to show them all the beauty so they possess and I'm a sense of pride to make it easier right? That was used to be oh my god. Yeah. Yeah, I was like no, I'm kidding You guys like why is it right? I want to keep. We didn't, we didn't. We kept going. The guy to the left got it. Oh, it's beautiful.
Starting point is 00:34:28 He's still a moment. And I'm like, I thought that. And the guy says, did you guys get that from Chaggie BT? I'm so freaking fine. This is Randy Watson, by the way. I was a Randy, a lot. So, but back to how the conversation initially started, you know, they're pitching Pat.
Starting point is 00:34:42 And I said this, I said, look, if the options are psychedelics and marijuana as an example versus pills and alcohol for people who are suffering with depression, what are they getting the military after anxiety? What do you know? BTS, I'm 100% advocate of that. But I go, there's certain people that just don't need anything.
Starting point is 00:35:03 And then Pat said something very amazing. He said, I believe this is not a song. He said, I believe that if a line could speak, you would not understand what they were saying. I mean, I'll let you kind of explain this. But there's some people that don't need any extra stuff in their system. They just got it.
Starting point is 00:35:20 They wake up like from, I need some coffee in my life. Every once in a while, I need a drink. I need some mokajay, whatever. I need a little something. Pat needs none of that. If a line could speak, you'd not understand them. Explain what you were saying with that. All I said is, I think the right person in your life is just as effective if not ten
Starting point is 00:35:36 times more effective than any psychedelic. Because the right person in your life is going to get you to question things and get clear in your life and confidence and realize it's not that big of a deal or maybe it is. Part of it is your responsibility, but we're not perfect. We got to move on. This is a chance for you to redeem yourself, have some respect for yourself. The other person, let's see what we can do. The right person can get you to really get your laugh. 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,
Starting point is 00:36:02 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 It's not a joke, but and I want to know what the chat things or what the chat things about this Why don't what if they would like this bat? We have a shaman come in here for one podcast It's all in high waska I'm talking about And just what kind of podcast back? We're all like crying I'm in I would do we gotta convince you to get that I would do'd have a book. The lion right here and a shaman walking around. I'll fund it.
Starting point is 00:36:27 How about I call my God? They would love it. We still need you to bring in the liver. Okay. Here's a question. Did you get her together with the psychedelic guys? So maybe they could go off for the evening? Well, I think she was dating that guy, the three point shooter.
Starting point is 00:36:41 I think I don't know the way you're positive for sure. For sure. Okay, because he's a very good looking guy. You know, which guy? Well, the guy that's a three point shooter. I like him too. I think he's a very good looking guy. No, he's not getting her. Okay, anyway, so it ended. We left it was good. We had the food was good. I have a chance to meet your buddy, Chris Humphries, which added a whole highlight of the event. Was meeting your friend, Chris, which was a senior connection with him that part was fantastic. Anyways, hey side note, did you guys watch the movie The Judge? I haven't seen it yet.
Starting point is 00:37:12 Vinnie, I sort of got it. Did you watch the movie The Judge? Rob, did you watch it? You recommended it. Okay, I'm going to take this right now. If you don't watch it by Sunday, you're not doing podcasting. I'm telling you right now. I'm telling you if you don't watch it, I'm not doing podcast. I'm telling you right now.
Starting point is 00:37:25 I'm telling you if you don't watch it, I'm not doing podcast. I'm watching every day. I'm watching on Sunday. I'm watching how many people message me, you telling me, I understood what you meant. I was in tears crying watching the judge. You gotta watch.
Starting point is 00:37:36 I'm watching. We gotta check to see if Brian watched the judge. I'm Brian. I'm watching. Yeah, you and your girl watch it together. I'm telling you, you're gonna cry in front of her. I'll tell you when you do that. Anyways, everyone, you have your girl watch it together. I'm telling you, you're gonna try in front of her. I'll tell you when you do that. Anyways, everyone, you have homework this weekend.
Starting point is 00:37:48 Watch the flipping judge. By the way, don't use flipping in it. It's just the judge. If you type in flipping, you're not gonna find it. Okay, next story. Did you guys see what Ken from Citadel said when he was being interviewed about SPF? Do you have that video or no?
Starting point is 00:38:06 Do you have that video? Rob, do you know which one I'm, I think I texted it to you. Let me find it. Very, very, very interesting. Who is this guy? So who is this guy? Are you kidding me?
Starting point is 00:38:15 This is the guy that made the most money last year. $16 billion he made last year. Doing what? Doing what? He's the CEO of Citadel. Okay, this can. Can Griffin? Can Griffin made that? $16 billion last year. Doing what? Doing what? He's the CEO of Citadel. Okay, this can Griffin? Can Griffin made $16 billion last year? What do you mean last year?
Starting point is 00:38:29 It made $16 billion. That's correct. Exactly what I just told you. It made $16 billion last year. Spin, it's Ken Griffin's hand. I just texted it to you. I just texted it to you in the video. And he moved to Miami, but I want you to watch Posit first
Starting point is 00:38:41 and you have to do it in a way where you start from the beginning. So refresh and figure out a way to pause and get the audio because it's tricky when you're dealing with Instagram Okay, it's fine. Okay, you got it. Don't play it yet. But watch this so he's being interviewed by a Person who all of a sudden gets very very uncomfortable when he says this that was fun Tom Have you seen this what he says or no? I have I've read about it. I have not seen it end to end. So Tom, can you the level of credibility with King Griffin is what? How successful of a guy's yeah, what he does? In terms of Wall Street and the bond market and international finance, his credibility is like an 11. Okay. Meanie,
Starting point is 00:39:19 no, no, the guy, the heavy and by the way, he just moved to florida yeah he bought up a land in my immediate like the main main space place and he's building out his own you know headquarters buildings there so he's a stud i think he moved here from Illinois by the watch what he says watch what he says and more importantly watch the reaction of the interview go ahead that all the so worried about you know i'm the balance you have to have to get to the line called trump lose and sam was the second biggest owner to democratic candidates
Starting point is 00:39:52 i'm going to leave it to everybody else to draw their own conclusions about what you're saying here right those are those are really really ugly facts when you see a fraud of this being to have been played out and you find no regulators were there to prevent it. That's a really, really tough story. We could talk for quite a while about FTX. Sadly, we don't have it. Yeah. So I have to finish.
Starting point is 00:40:19 Oh, yeah. But all the... A Democrat moving on right now. Yeah, I'm not going to see it here. How uncomfortable was that silence balance? She Tom Trump lose Trump. That was a coin. What was that?
Starting point is 00:40:31 Meaning the money they used to donate to different places was for Trump to lose was for Trump to lose. So this fund here, 29, you know, $20 million. This much money here. This money is used to help Trump lose. Holy shit. Wow. That, to me, on this, again, I'll play the moderate here. I don't know much about this.
Starting point is 00:40:50 That, to me, is not that shocking. That there's people in that space that want to see Trump lose. I mean, after all, what was the Lincoln project was built to see Trump lose. But the fact that it was fraudulent money is the real scam. Is it was just fake money and the real scam. Is there was just fake money
Starting point is 00:41:05 and they're donating it to the Democratic Party for sham agendas. Obviously, we know that we want Trump to lose his job. You can go new May. Okay. It was real money that belonged to investors. This is freaking Ponzi that got redirected to Elimita.
Starting point is 00:41:22 It's a big difference between Lincoln Project and this keep going. Right. So I just want to correct what you said, not correct you personally, but what you said was, this was fraud money. No, they didn't invent the money. This was investor money from massive family offices
Starting point is 00:41:35 and investors that put it in there and trusted this guy on this whole FTX premise. He moves it to LMEDA and then it gets filtered out to these campaigns. He was propping up Sam SPF was propping up SPF and he was using FTX, you know FTX to make donations to political campaigns and to charities. This is real money that real people lost just like Bernie made off and What he's talking about is behind Griffin's comments
Starting point is 00:42:09 is just the depth of the fraud and what was really going on here. So it's not just a fraud, it was an election fraud. It's not just a start-up CEO with a bad moral compass. This was deep, deep frauds and that was Ken Griffin's silence while he was sitting there. What do you mean election fraud? Can't say it was election fraud. Okay, so you set up a,
Starting point is 00:42:33 you set up an entity in the Bahamas, and then you're making donations beyond federal maximums to individual campaigns. Maxine Waters, you find the video of her on the floor of the House Representatives, blowing him Waters, you find the video of her on the floor of the house representatives blowing him kisses, you're a savior. Come on. I mean, they knew what they were going for. The midterms you're saying. Exactly. Let me show another clip of this guy. I mean, you know, that you see what's going on. Look, but he's not the first guy and won't be the last guy, okay? But I just want you to hear like the tone, okay?
Starting point is 00:43:08 Rob, if you can play this clip here, somebody send this to me. I just send it to you. While you're doing this, while you're doing this, let's just kind of talk about the, if you have it, I don't know if you have it, if I texted it to you, Rob. It hasn't come through yet.
Starting point is 00:43:22 Really? I just texted it to you. I mean, say what you want, bro. The Democrats are gangster, bro. They don't play, they, they do their work, bro. What do you want? I'm just saying, like, think about, think about, now that it's all these years later, Trump, the amount of enemies in the shadows and the face,
Starting point is 00:43:39 the media, bro, this guy didn't have a chance, like, I mean, he won on his own merit and then think about all the from the rush of collusion to this to the in peace that they and say what you want to do the democrats they fall in the sorrows they they they go down with the ship date and look at all the at look at everything that we're finding out that they're doing from from the shady money from hillary pain for the for the false information for
Starting point is 00:44:03 and none of them get for and none of them getting trouble None of them get in trouble. Did you see did you see that they're removed Adam shift? They they removed and so on. Well, they're they remove swawol and then they're all complaining about the fact that this is not fair You shouldn't do this all this other side. I'm a classy room when at them pat Yeah, I'm like they shut down all the reporters. Don't you to watch this guy and watch watch this guy Tell me what you think about a guy like this, okay? Yeah, there you go You're very stupid and they're really stupid, okay? I mean, just being honest, right? So the other day, I'm sleeping on my bean bag in my office
Starting point is 00:44:30 and like one of the cleaning people comes by and she's like, hey, you know, I hear you big CEO, you know, and I was like, shut the fuck up. Is what I told her, I'm like, who are you? I don't need, you know, like I'm not looking for the help. Like, maybe I'll donate money to you You know you And you know she kind of like took that weird and she told me like, you know, I'm a guest here
Starting point is 00:44:52 And I said, you know, I was like I could buy your family like 300 billion times over okay, and I'd still be a billionaire Most people are just that really him is that really his voice that's his voice. Oh my I thought that was a character of like an a really annoying person But you know what you know you you believe that for a person to look at everybody as I own them I can buy you I can do this. I can do that. I can do that great But you know this is The amount of Fraud that's going on within SPF.
Starting point is 00:45:26 And then the other day, was it on Shedder when they called that Kevin O'Leary and the guy says, you know, how did you go from being the person that was anti-bitcoin, you were like Charlie Munger, everything about that was anti-bitcoin, anti-bitcoin, anti-bitcoin. And then all of a sudden, you turn into this guy that's, you-bid coin, and then all of a sudden, you turn into this guy that's, you know, a, you know, a fully bit coin, and you know, it's, it's the way to go.
Starting point is 00:45:50 And how did that happen? That was a CNBC interview, and that was Andrew Ross Sorkin that called them out. Well, wait a minute. You just said 2018. Have you seen this? No. So, I just said this. I, this whole thing here would, what's going on with FTX?
Starting point is 00:46:02 And who's involved? Look, there are certain people that took sponsorship money. There is risk when you take sponsorship money, okay. There's truly as risk. But then there's people that were bought, okay. When you do sponsorship money, you have to find out what the product is, okay. And if you have a track record of saying yes to 100% of a product that is being sent your way, guess what that means? You're not you're not endorsing anybody. You're simply taking money. If you get if you get 10 people that come your way and say, Hey, we'd like to be your sponsor. The right number is around 70 to 80% of them should
Starting point is 00:46:39 be turned down. You shouldn't just take money from everybody. Watch what these guys, by the way, phenomenal job to both of them. Look what they do to Kevin O'Leary. Just why, it's painful. To brace for impact. All right. Singing the blues right now at all. Oh yes, I'm singing the blues.
Starting point is 00:46:59 Why? Because your 15 million didn't pay out. That's a lot of money. This is a paid spokesperson. It's a lot of money. You do have to do much for that. That's found money. Listen, a paid spokesperson. It's a lot of money. You do have to do much for that. That's for that. That's a different decision. That's a different discussion.
Starting point is 00:47:09 Okay. You know, you can make that decision on your own, but I'm going to this point on money. If you want to say he's guilty before he's tried, I just don't understand it. But you went from Charlie Munger's view on Bitcoin to Michael Seller's view on Bitcoin. And I actually kidded you about it. I said,
Starting point is 00:47:26 who are you? You may know nothing but you're never in doubt. You're so strident when you said it was just worthless and rat poison. And then six months later, you're like this Bitcoin bull. And so I didn't understand that conversion. Did that conversion coincide with the 15 million that you got from from FTA? Did you hear that? Yeah. I was investing three and a half years earlier than that. I changed my mind back in early 2018 when I saw the regulators in jurisdictions like Canada, Switzerland, and Abu Dhabi start to change their minds. I got to stop you. I got to stop you. You just said you made this conversion
Starting point is 00:48:02 in what year? I think it was 2018 I started investing, yeah. Okay, well I just, just for, as a point of fact, for what it's worth, May 14th, 2019, you came on television and called Bitcoin Garbage. It is a useless currency. It is a useless currency. That's what I believe. I don't know what you're going to do. Did you catch all of that? Yeah, I love it.
Starting point is 00:48:27 Yeah, put in their foot to the fire. Good for them. So by the way, shout out to Joe Kernan, and Andrew Ross Sorkin, who, you know, hosts the the morning bell on CNBC, Squawk Box, I believe is what it is. I mean, look, they they have, you know, awkward it is, to have someone that maybe you consider a friend,
Starting point is 00:48:46 a colleague, an investor, Kevin O'Leary, and call him out straight to his face. Good, good, and he's more of that. You know, that's credibility right there. And the reality is it's like, those are questions that you should answer, Kevin O'Leary. He's like, 2018, I became a believer in Bitcoin. It's like, well, just, let's just check the tape here.
Starting point is 00:49:04 In 2019, you called it a scam and trash. It's like, well, just let's just check the tail of the tape here in 2019. You called it a scam and trash. It's like garbage. How does that add up garbage? I don't know. Not a good look for Kevin O'Leary. It's, they're wonderful. It's not, but you know, he got 15 million bucks for it. Again, this is a perfect example. You can't say yes to everybody. We got, these guys came up to me wanting me to do, what is a man's cape, right? And they say, hey, we'll pay this. And then we'll pay this. And I know what I'm like, dude, I'm not getting up there talking about,
Starting point is 00:49:30 go shave you, I'm not doing it. Now, with everybody that I don't care, I'm not doing it. So number one, I'm not doing it. First of all, that's not even a big deal, right? No. Hey, this casino site, Pat, we're willing to pay half a million dollars
Starting point is 00:49:43 to do sponsorship and drive it to our gambling website. You know, first of all, do you realize, imagine the audience, I want you to kind of watch it, the audience watching me say to follow it. So look, if you're like me and you bet on games, you, first of all, yeah, but that you're bought. Now, if you protect the word and by the way, let me make a very simple prediction to you. We have some people who are doing sponsorships with.
Starting point is 00:50:08 You know who they are, Goldco, Masterworks, we have a few company, or you know, you to me, some of these guys who are doing partnerships with, they could still screw up in the future. But as of right now, we feel very confident about what they're doing. It's very clear, we feel confident and endorsing, having these companies being used
Starting point is 00:50:24 because we feel confident about what they're doing today. There's a massive risk if you can just be bought, would it check? And by the way, you just watch SPF saying, I can own you and you just watch Kevin O'Leary. SPF is right. He just did. To a very powerful man who runs shark tank. Meaning he is the main talent of that show It's it's not anybody else. He's not the richest Mark Cuban's the richest. Yeah, and Mark Cuban's the sharpest
Starting point is 00:50:50 But Kevin O'Leary is the one that's the most well-rounded entertainer shit talker pushes the envelope He draws people into that show. Is there any legal Communications path for some I don't think there should be I don't you should it for somebody going I'm all in even though they kind of don't I don't think he should be should be held accountable. I don't think there should be I don't you should it for somebody going I'm all in even though they kind of don't I don't think he should be should be held accountable I don't think there's any No, not I don't think there's anything you can do to Kevin O'Leary because Realistically he didn't do anything wrong He took money and he said this is a company to use. It's on the judgment of the individual that trusted him
Starting point is 00:51:27 and says this is a guy that's telling me. The individual should have said how the hell do you go from hating Bitcoin, trashing Bitcoin? I remember once in Pampliano was on a show with one of these things and him in Pampliano or going at it and Pampliano selling you, you know, he's a Maxime. He was. He's not as much as before, but they're going at it.
Starting point is 00:51:47 They're going at it. They're going at it. This is garbage. This is this. This is that. So if you watched him go like that and then sudden flip, well, the person that invested is also taking that risk that how did you all of a sudden think that person's
Starting point is 00:52:00 gonna flip this quickly? Yeah. You know, so anyways, that's on the individual. I don't think it's on Kevin O'Leary at all. By the way, because it's a slippery slope. It's like, all right, Kevin Leroy, he's a financeeer investor, he's on Shark Tank, he's on a CNBC.
Starting point is 00:52:12 All right, he took money, but then, then you got Tom Brady, then you got Steph Curry. Of course. Matt Damon did some crypto. So like, where does it go? At the end of the day, I don't think they should be held accountable, but they're gonna, they're brand in their image.
Starting point is 00:52:24 It's okay. It's gonna take a hit and to sing your praises Number one, I I used manscape. I think I keep things real clean shout out to manscape But how many times because at one point in 2020 I was kind of handling some of the sponsorship stuff here and they pitched me to pitch you on the gambling stuff I said I don't even even wanna bring this to Pat because I already think he's gonna say no. And by the way, my entire brand is save that money, invest your time, don't spend your time on useless stuff.
Starting point is 00:52:51 I'm like, I don't feel comfortable doing gambling stuff. And I know Pat's not gonna do. But to your credit, how much stuff do you get pitched? And you're like, no, no. No, no, no. They're willing to pay to say, and saying, are you kidding me? We can't do it.
Starting point is 00:53:06 But again, there's a lot of small YouTubers that need the sponsorships to totally get it. There's a lot of small guys that get started that you get a sponsorship, 200 bucks, 400 bucks. If you gamble, great, it's part of your brand. But make sure whatever you do with sponsorship is something that matches your brand, no matter how much people pay you.
Starting point is 00:53:23 But if they pay you, you take it, there's the risk that if it flips, your name's on the line. that matches your brand no matter how much people pay you. But if they pay you, you take it, there's the risk that if it flips your names on the line.

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