The Breakfast Club - Earn Your Leisure & The Master Investor Talk Crypto Collapse, Kanye West, Market Mondays + More

Episode Date: November 17, 2022

Earn Your Leisure & The Master Investor Talk Crypto Collapse, Kanye West, Market Mondays + MoreSee omnystudio.com/listener for privacy information....

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Starting point is 00:00:00 Hey guys, I'm Kate Max. You might know me from my popular online series, The Running Interview Show, where I run with celebrities, athletes, entrepreneurs, and more. After those runs, the conversations keep going. That's what my podcast, Post Run High, is all about. It's a chance to sit down with my guests and dive even deeper into their stories, their journeys, and the thoughts that arise once we've hit the pavement together. Listen to Post Run High on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. own? I planted the flag. This is mine. I own this. It's surprisingly easy. 55 gallons of water,
Starting point is 00:00:46 500 pounds of concrete. Or maybe not. No country willingly gives up their territory. Oh my God. What is that? Bullets. Listen to Escape from Zaka Stan. That's Escape from Z-A-Q-A-S-T-A-N on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. As a kid, I really do remember having these dreams and visions, but you just don't know what is going to come for you. Alicia shares her wisdom on growth, gratitude, and the power of love. I forgive myself. It's okay. Have grace with yourself. You're trying your best, and you're going to figure out the rhythm of this thing.
Starting point is 00:01:26 Alicia Keys, like you've never heard her before. Listen to On Purpose with Jay Shetty on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. like you to join us each week for our show Civic Cipher. That's right. We discuss social issues especially those that affect black and brown people but in a way that informs and empowers all people. We discuss everything from prejudice to politics to
Starting point is 00:01:52 police violence and we try to give you the tools to create positive change in your home, workplace and social circle. We're going to learn how to become better allies to each other so join us each Saturday for Civic Cipher on the iHeartRadio app, Apple Podcast or wherever you get your podcasts. Hey, y'all. Niminy here.
Starting point is 00:02:09 I'm the host of a brand new history podcast for kids and families called Historical Records. Executive produced by Questlove, The Story Pirates, and John Glickman, Historical Records brings history to life through hip-hop. Each episode is about a different inspiring figure from history. Like this one about Claudette Colvin, a 15-year-old girl in Alabama who refused to give up her seat on the city bus nine whole months before Rosa Parks did the same thing. Check it. And it began with me.
Starting point is 00:02:50 Did you know, did you know? I wouldn't give up my seat. Nine months before Rosa, it was called a moment. Get the kids in your life excited about history by tuning in to Historical Records. Because in order to make history, you have to make some noise. Listen to Historical Records on the iHeartRadio app, Apple Podcasts,
Starting point is 00:03:11 or wherever you get your podcasts. Wake that ass up. It's in the morning. The Breakfast Club. Yep, it's the world's most dangerous morning show, The Breakfast Club. Charlemagne Tha God, Angela Yee, Envy is not here.
Starting point is 00:03:24 Envy, he's actually off the country, but we got family in the building, man. The brothers from Earn Your Leisure, Rashad and Troy, and the master investor, Ian Dunlap is here. What's happening, my people? What's going on, brother? Long time no see. I know, right? I just want to say, Ian Dunlap looks official. Ian always looks official.
Starting point is 00:03:44 When did Ian not look official? I'm just saying. He's on his Ian St. Patrick today. Ian don't got no regular clothes. Nothing but suits. You got to dress how you want to be dressed. That's a fact. You heard what he said?
Starting point is 00:03:55 No, that's real. Say it again. You got to dress how you want to be dressed. That's real. I heard that. So why is you dressed how you want to be dressed? It's how I want to be addressed. Has a mom?
Starting point is 00:04:05 Like moms? She has moms on her. The tea and coffee kind of sauce she is. You got the lumberjack thing going on. That's what I'm blessed with. But Market Mondays, man. Tell us about that at the Hulu Theater in Madison Square Garden on November 27th. Yes, yes.
Starting point is 00:04:20 So it's really, really big. Not only just, you know, we're doing a show in Madison Square Garden on Black Friday weekend. That's obviously tremendously important for the city and for the culture. But I think that it just speaks volumes of where we're at right now, where we can sell out a venue like, you know, MSG Hulu Theater. And we're not rapping. We're not playing basketball. We're teaching about financial literacy. But it's a vibe.
Starting point is 00:04:42 So, you know, it's something that's extremely encouraging and really, really dope to see so many people enthusiastic about it. And, you know, it's going to be a night to remember. I actually want to say something, if I can, a surprise that we're going to break. Yeah, break. Okay, okay, okay. Nobody's heard this news before. This is this.
Starting point is 00:05:02 Save this for this moment. So, all right. So our shows are vibes. You guys, no, you've been to Investors. Education is this. We saved this for this moment. So, all right. So our shows are vibes. You guys, no. You've been to Investor. Education and vibes. Oh, you haven't been to a show yet. No, thanks.
Starting point is 00:05:11 You gotta come, brother. Yeah, I mean, it was insane. We couldn't even walk down the hallway. Yeah, this is true. But that's because Steve Harvey was there. Just because of Steve, Jesus Christ. Steve was there because of them. He's our partner.
Starting point is 00:05:24 They were like, no one could go in the hallway right now. I was back there with Rashad's mom. That's a fact. No, but so for Madison Square, we got a dope lineup. We got my guy Mouse Jones to open it up with Trap Karaoke. Trap DJ Suss on the one and twos. Sussy in the city. Yes, yes, yes.
Starting point is 00:05:44 Sussy in the city. So, yes, yes. Sussy in the city. Shout out to the home team. So we got Peter Tuckman. He's the Einstein of Wall Street. The guy's been on Wall Street for like 30 years. He's a genius when it comes to stock investing. We got Don Peebles, who's a billionaire, real estate developer, working on building the first black-owned skyscraper in New York City.
Starting point is 00:06:02 And then we got our guy Jadakiss to perform. I thought it would be only right to have Jadakiss in the building. We got to. And then, you know, Ian is going to give his masterful performance. But you're going to perform too? No, I'm going to teach. No kidding. That's fine.
Starting point is 00:06:17 I try to make sure in the education that it is entertaining. Because we've all been to seminars and it's really boring. So I'll be covering the 25 stocks to invest in and 50 to stay away from the two crypto i like the 10 to stay away from and how to make 22 000 a day from trading but i have to make some calls we got a little special guest coming in yeah yeah so we're gonna have a sit down conversation with none other than the champ floyd money mayweather wow be in the building isn't he invested in skyscrapers absolutely i think that's one of the things people overlook right they see him you know Money Mayweather. Wow. Isn't he invested in skyscrapers too in New York? Absolutely.
Starting point is 00:06:45 He's always a great investor. I think that's one of the things people overlook, right? They see him spending money, but they don't realize what he's doing in business. So the commercial real estate is something. He's also invested in NASCAR. His portfolio is so expansive, but people tend to overlook that. And so to sit down with him to go over that. And I feel like he's wanted to talk about it for so long,
Starting point is 00:07:03 but people just want to hear boxing. But now he has a great mind and a great business when he got the tallest building in new york he's part of the 90 to 93 story uh vanderbilt and you know so his portfolio he has that under his event portfolio but there's like eight other skyscrapers in new york that nobody even thinks of floyd meadow foley mayweather when they think of it but he's definitely part of it. And he changed the game for sports, too. He's the first guy to make $100 million in one fight, $200 million. The way he revolutionized boxing and being his own entity as a business
Starting point is 00:07:36 as opposed to everybody else that was working with promoters for such a long period of time, and him and Al Heyman, what they've been able to do on the business side, I don't think he gets enough credit for it. And he has an all-black team, too. When you look at Al Heyman, what they've been able to do on the business side, I don't think he gets enough credit for it. And he has an all-black team, too. That's right. When you look at Al Heyman, when you look at Leonard Ellerbee, I don't think Floyd actually gets enough credit for his business acumen.
Starting point is 00:07:52 So to have a conversation with Champ at Madison Square Garden is going to be legendary. That's a huge deal, and I'm sure he had some fights there, too. Yeah. So for him to go there in a different type of light. I mean, you think of the greatest fights in the Masters of the Garden, obviously you think Ali Frazier. You think about all the great heavyweights that have come there. To have this, probably one of the greatest of all time come,
Starting point is 00:08:12 but not actually sparring. He's actually going to be talking about business. I think it's just something that's monumental. Mayweather and Jadakiss, boy, two champs. Two champs. Definitely two champs. He's going to bring them out. I wonder what has more impact for y'all nowadays.
Starting point is 00:08:26 Is it the podcast or the live shows? Because y'all killing with the live shows. Like you did the Garden. Y'all sold out London with InvestFest. Like, you know, you had 12,000 in Atlanta. 14,000. I'm sorry, 14,000 in Atlanta. How many in London?
Starting point is 00:08:40 About 4,000. 4,000? Like what's having more impact for y'all now? If I can speak freely, I think a combination of both. Of course, they built one of the biggest podcasts in history. But I think when you get a chance to talk to people in person, it's one thing that I've prided myself on and they have as well as like making time for the people, interacting, shaking hands and kissing babies.
Starting point is 00:09:00 So I think it's a combination of both that you need to do in order to have a sustainable model for the long term. And he's changed the game too. I want to give him his credit because he changed the game as far as performing. So when I say he's performing, I really mean he's performing. He came to InvestFest with 200 people on stage and
Starting point is 00:09:20 a mask and smoking. He was asking for all this stuff and I'm like, yo, bro, you bugging out. But then I realized that... Don't you forgot the tank? He wanted guns and everything. I'm a wrestling fan. So I wanted to do some of the DX. I saw you do this thing.
Starting point is 00:09:36 So I wanted to have those kind of themes in there because when we go to seminars, normally I've never heard anybody say I went to a seminar and man, I had a blast. You may learn something. So taking those elements from rap, Wu-Tang, Pac, WWE, WCW, and blending them all in,
Starting point is 00:09:52 plus teaching you how to make money, I think is a formula, because boring is always, it's going to push our people away. And if we want our people to be interested in money, investing, we have to package it in an entertaining fashion. Now, since you guys are here, you know we got to talk about some things and we oh god here we go here she go this is finance this is your field because y'all just brought up crypto okay okay ftx ftx yes so i want to talk about that for you to break that down because the other day we reported this um this guy basically lost his $15.6 billion fortune, Sam Bakeman Freed.
Starting point is 00:10:27 And so how did that happen? And does that mean, because I know we sat up here and talked about it, people are already scared of crypto. I know Envy was like, I'm glad I didn't invest. That's funny. And I know, Charlamagne, you haven't invested in crypto either, right? No, but I mean, I believe in crypto. I just don't think that all of these different currencies
Starting point is 00:10:45 will go to sustain. What do you believe in? I mean, Bitcoin seems like the most stable one. Smart. Yeah. All right, so let's talk
Starting point is 00:10:53 about that and what that actually means because it did make a lot of people be like, see, I told you that's why I didn't do it. Yeah. We'll just go down
Starting point is 00:11:00 the line with it. The most important thing is, and I said this yesterday on the show, if you bring a cryptocurrency token up to your family and friends, my litmus test is always my mom, dad, and elders. And I ask them, does this sound like a scam to you? So if I'm telling you that I have a token and it's went up 9,000% or 3,000%,
Starting point is 00:11:19 most of our family are going to say, hey, it's a scam. Another good litmus test, if I brought it to you, would you buy it from me? So I think one of the biggest issues that we have is that we are looking for sensational gains with no work. And everyone knows in here, you can't get 7,000%, 5,000% return without working. And what he was able to do is he was able to get, and we have to talk about the venture capital community. They're the ones who are funding a lot of these projects that are going belly up. So we have to start from the top down. But I don't want to say it was a scam from the beginning,
Starting point is 00:11:52 but anyone who's been close to the situation, whenever you take clients' money and you put it towards your project because you're losing money, that is fraud. Yeah. And to give people a full explanation of what actually happened. So, Sam, he had a exchange called FTX and they have a currency called FTT. So it's like if you're familiar with the crypto world, Binance, you ever heard of Binance? So Binance is like the largest global platform when it comes to crypto and they have a Binance coin. So FTT was the native currency for FTX. So what ended up happening is that a report was published that FTX held a suspicious amount of FTT currency.
Starting point is 00:12:33 From their competitor. And it made Binance, who actually had a lot of FTT coins, publicly announce that they were going to be selling their FTT coins because they wasn't comfortable with the situation. So Binance kind of ruined them. I'm going to go there for you then. So once Binance put that out, everybody got scared. Everybody thought that this coin was going to fall apart. So now you've got to run on the bank and everybody's trying to pull their coins out. There wasn't enough liquidity to cover everybody trying to pull their money out. So when that happened, that collapsed the coin overnight, which collapsed the exchange overnight, which collapsed his fortune overnight.
Starting point is 00:13:12 He lost $14.6 billion in one day. Damn. Yeah. So the other part is like knowing who your competition is. So you said Binance, right? Yeah. So in retrospect, Binance saw that they were going to collapse and say hey maybe we'll bail you out yeah but in order to bail you out we have to see your books if we know
Starting point is 00:13:29 cryptocurrency in the space there is no regulation so people don't have to show their books but in order for me to help you i need to see it when they looked at the numbers they said wait there's no liquidity here i'm not doing this right and so now you've shown your competition the books right and now they're like let's destroy you and now with the letter of intent with the letter of intent right so it's like we're gonna do it completely exactly we might help but now that you've shown us that what you have nah well there's no way we're gonna help you and so now you're talking about an exchange that is now going and now the founder of binance is like all right well let's rebuild this
Starting point is 00:14:02 yeah it's like billions. Yo, conker. In real life. Destroying conker. We're living a Netflix documentary and billions in real time. But also, too, look at the arrogance of Sam at 30 to tell other investors, we don't want to work with you. They had no board of directors. And when people asked to see the financials, they said no. Wow. That's sign number one that.
Starting point is 00:14:27 Is a problem. Yes. Could be a problem yeah yeah but i mean what does it do for crypto long term like you said a lot of people have fear around it i think regulation comes i don't know how fast it comes but it will come because people are not going to stand to see money being lost obviously hedge funds and managers have lost money but people have lost money and And the more people lose money and bigwigs lose money, regulation will come at some point to say, all right, this can't happen again. Won't regulation scare people too, though?
Starting point is 00:14:53 Isn't one of the reasons people like Bitcoin is because it's not regulated? Going into the election cycle, one of the biggest things that they're going to run is the safety of the people. In 2008 and 2009, regulations got a lot tighter. So as a result, they're going to angle it and say, and I've told people from the beginning, hedge funds and banks have put people in these crypto projects to destroy them so that the
Starting point is 00:15:15 banks could then take them over. JP Morgan's been partnering with Ethereum. This destruction of FTX is playing. So regulation may push people away for a little bit, but it will create safety. Ian, are you holding on to your crypto? I'm holding on to Bitcoin and Ethereum. I like Ripple as well, but outside of that, I'm not touching. I mean, I told people last year when it was at 60,000
Starting point is 00:15:34 Bitcoin, it was going to come down to 20. We're a little bit underneath that. I think Ethereum is going to hit a low. I think Bitcoin may actually hit maybe 9,583. That's a price I'm looking to add some more considerably. So you think it's still worth buying? I sell.
Starting point is 00:15:50 Yeah, if you're holding it long term. Our biggest mistake in our culture, we want to flip really fast. And I said this yesterday on the show. I never hear you or Steve, Harvey, or you ever say, hey, I'm buying these coins that no one else has heard of that everyone's talking about on Twitter and Instagram if these coins and projects that Bible everybody in the industry will be pouring their money into them sometimes you just have to find follow the people that are doing really well and mimic what they're doing to have long-term success but I'm only really focused on this? He's done. Damn. Where is he going to get money from? Let's look at it like this. He has an entire
Starting point is 00:16:28 financial industry against him. He ruined crypto. So he ran Alameda Research, which is their hedge fund. When you take money from clients and move it over here, it's not legal. And in every, this is the biggest point, in every recession
Starting point is 00:16:43 and scandal, you need a fall guy. He is going to end up being the Bernie Madoff of crypto. So with Bernie, people knew what he was doing for years. There were whistleblowers that were talking about it for five or six years. It wasn't until the recession when they really put that fire out and made him be the face of it. Bernie ran the NASDAQ for many years. And they knew what was happening here with FTX and FTT. I think, unfortunately, because we're in a recession now,
Starting point is 00:17:11 even though they won't announce it, he'll be the fall guy for crypto. Wow. You think he can go to jail? You did say it's fraud. I mean, we have to see. Yeah. You got to be careful.
Starting point is 00:17:20 You got to be careful when you just, we can't just say that legally because we don't really know. It's alleged. But you just got to be careful when you just – we can't just say that legally because we don't really know. It's alleged. But you just got to wait and see. Why are evaluations so important? Because I'm just realizing that people don't realize when they see these numbers, like, oh, such and such is worth $3 million.
Starting point is 00:17:37 I mean $3 billion or $4 billion. You lost $14 billion overnight. You know what's so crazy about the Kanye? Your guy, Ye. Uh-oh, Sean. You know what's so crazy about the Kanye? Your guy, Ye. Uh-oh, Sean. You know what's so crazy about that is the day that they announced that he lost all of his money, the day before that, I was in L.A., me, Troy, and 19 Keys. Shout out to Keys.
Starting point is 00:17:59 And we was talking, and I'm like, I have a strong suspicion that probably 90% or 80% of his wealth is in his company. I just, before any of this happened, and I'm just thinking the kind of person that I think he might be, I don't really see him having a lot of money invested in stock. And, you know, he said that $150 million was taken out of Chase, or they told him that they didn't want his money. So that probably has like $150 million liquid in a bank account. And then he probably has some real estate, and I think he owns like 5% of Skims. And that would probably lead you to have $400 million.
Starting point is 00:18:30 But then it's like when you see billions of dollars, that billions of dollars is a little misleading because he doesn't have billions of dollars. That's the value of his company. And if you own 100% of the brand, then if the brand is worth $5 billion, then that's how much you're worth, right? It's like a car.
Starting point is 00:18:45 If you have no money in this world and you have a Rolls Royce that's worth $200,000, then you're worth $200,000. But if the Rolls Royce gets stolen, now you have no net worth at all. So that's what people have to really understand with this net worth list is that a lot of times they see things and they say, okay, this person is worth $4 billion, But it's like, what is that tied to? If that's just in one company and that one company can go away like that, whether it's Sam Pinkman Freed or whether it's Ye, then that's dangerous because it's not diversified. So it's all an education process.
Starting point is 00:19:17 But I think that this, at the very least, has been educational to a lot of people because they're like, how can you lose $2 billion in one day? How can you lose $14 billion in one day? Well, 14 billion in one day well that's why because all your money is inside of your company I was gonna say the valuation part is like the future profitability of the company right and depend on what type of company you have the valuation can change right and so if it's like a tech company they may say I the company's worth 100 million like we saw that with a face clean right they they earned a hundred million but they got a 10x multiple. And so now that 10x multiple now makes them a billion-dollar company.
Starting point is 00:19:49 And so it's usually around the future profitability of it. So like with Ye, obviously he has a retail company. Well, what's the projections on retail companies? What type of valuations do they get? That's the homework that you've got to do when you're in that business. So education has its own multiple, right? It could be 4x, it could be 8x. So when you take your earnings, right,
Starting point is 00:20:06 and you multiply it by that number, that's how you get the future valuation of a company. That's how you become a billion-dollar company. So what's the point of that? Is it just vanity? Just to be able to say, hey, I'm worth a few billion? And business more in general. Just in general.
Starting point is 00:20:20 Both, both, actually. I mean, for projections so you can eventually sell it. So that's the main reason that they have valuations and projections. Because even the venture community, if you build up a sector, the purpose of that is to take it. We talked to Dave Rubenstein yesterday. You want to take a business, build it up, and then eventually sell it off. So that's the reason behind it.
Starting point is 00:20:39 So it's not vanity per se. And I understand Ye was upset because Forbes wouldn't label him as a billionaire, but that goes back to relationship. One of the things we was talking about yesterday is you have to be very careful who you make enemies with um because you don't know who can end up being the assassin in your career and that's something you talked about a lot we have to be mindful but in this recession like what do you guys personally invested in and then i want to talk to you about how do you keep peace during times of strife because I know you've been big on mental health every time I ask you how you doing you like blessed and highly favored I'm
Starting point is 00:21:12 less black and highly not every day before the top line about pinky cuz y'all had shot out was that episode pre-recorded? You spoke about Pinky. No, this morning. Oh, yeah. I actually hosted her book launch. Yes. You know, her book is coming out, and she just started her book tour in New York. So I hosted that.
Starting point is 00:21:33 Shout-out to Pinky. We had her on a few times, and we had her on InvestFest. But to answer your question, it's an important question, so I really wanted to double down on that, because that's something that our community is not fully aware of as far as valuations, the importance of raising capital so she raised a hundred she raised 25 million for 25 percent of a company which valued the company at a hundred million right because it's like okay now if somebody's giving you 25 million for 25 percent that means your
Starting point is 00:21:58 company's worth 100 million so even understanding the importance of raising money because it's like we have never raised any money. We've bootstrapped everything. And people have asked us, like, do we want money? I'm like, no, we always have took the stance that we don't need money. But now being properly educated, I wasn't properly educated on that process. So it's like the circles that we're moving in now is a lot different. So they're educating us like, no, it's not necessarily that you need money. But now you get outside capital for a small percent of your company, and that gives you a 10x or 20x valuation.
Starting point is 00:22:29 Now you're in a position to sell even more, sell the whole company, take the company public. It's so much that you can do with the leverage, and that's something that we don't fully understand because it's like we're used to just pay everything ourselves, do it ourselves. You take pride in that, and there is pride in that. But there's a whole different game where these people are building billion-dollar companies, and the companies are not even that big. You know what I'm saying? It's like right now, like, you would think, like, okay, in order to have a billion-dollar company, you got to do so much.
Starting point is 00:23:01 No, not really. You just have to have the right relationships, the right information, and then it's like, okay, you can go outside right now, raise $100 million for 10% of your company. Now you have a billion dollar valuation. I'm glad you said it because I was just talking about that. I had the CEO of Shea Moisture on. And, you know, they invest in a lot of black-owned businesses,
Starting point is 00:23:17 black and brown-owned businesses. And with my coffee company, I've always paid for everything myself. I have never raised money. And so now we're in the process of getting ready to do that and sometimes people are really hesitant to give up a piece of their company in order to get you know some capital but if you do want to scale and grow your business and also like what pinky was saying some things you just don't know and so that might mean I got to bring in some experts because I also care about who invests in
Starting point is 00:23:43 my company some people are okay with taking money and they just want a silent investor who has nothing to do with it. But I do want somebody that is going to actually add value. And so, you know, the importance of having somebody who is an accountant, you can't do everything as a business owner. Sometimes you do have to have a team of people that help you because there's no way you're going to grow your business if you're everything. For her to have nine locations, there's no way she could be in nine locations and handling the books and trying to grow a business and having merch and having products in store and having a book tour and raising two kids and getting married.
Starting point is 00:24:14 There's a lot of things. It's tough. And so, you know, sometimes you do need to make sure, look, I need this money to help grow my business and make sure that it's really profitable. And grow faster, right? Because now you can hire 10 employees, you can hire publicists, you can hire so many different people.
Starting point is 00:24:28 So that's important for all entrepreneurs to understand that it's not necessarily a bad thing when you're raising money. Just do it, like you said, intelligently from the right people. But if you can grow at a 10x multiple and grow faster and hire more talented people than you currently have and gain the information,
Starting point is 00:24:44 that's the next level that we're not really talking about a lot. I think y'all both said it. One of the most important things is the exposure, right? How would you know that if you weren't in the right room? Right, I would never. You always think, I don't want to owe anybody any money. I don't want to give up a piece of my company. But that's mindset, right?
Starting point is 00:24:59 So the mindset changes when you're exposed to more things, right? And so when we get exposed to people who are in private equity and they're telling us this, it's like, wait, we had the wrong mindset. But we're telling people right now, like, we had the wrong mindset. That's changing now, right? Because if we're looking at ourselves, especially from an infrastructural standpoint, like, we look at ourselves as a global entity, right?
Starting point is 00:25:17 So that's why you see us in London. That's why you saw us in Nigeria. That's why you saw us in Egypt. That's why we're going to the UAE later on today. Today? Sly Flex. We were going to cancel this, babe. It's important. How do we do that, right? Capital helps us do that. Capital
Starting point is 00:25:34 helps us build infrastructure. It helps us put people on the ground in these places so that Earning Leisure is not just an American brand. It's a global brand because the issues that happen in the United States happen all over the world. And the people on the ground actually have an in-depth look at what's taking place so they can actually invoke change. So that's why it's important to build infrastructure. But being exposed to information is vitally important.
Starting point is 00:25:53 Where did this stupid-ass narrative come from that you have to own everything and put up your own money? People talk about ownership all the time. Every company that gets to scale. When you grow up in an environment where you don't own anything, the second that you actually create something, you hoard it. Even with publishing in the music business, people will be like,
Starting point is 00:26:11 own your own publishing, don't do this. But you see artists selling their publishing because they get a huge check right now that they're able to invest in other things for that money to grow. There's two sets of information. The information that we're usually given versus the sets of information that the wealthy use.
Starting point is 00:26:28 That information doesn't trickle. So even when we're talking about infinite scale, we have to look at that. Like imagine if Rockefeller, Murder, Inc., Cash Money in the 90s knew how to invest in the marketplace. They would have been one of the biggest hedge funds in the world. So the valuation game now is like knowing stocks in the 1990s. I don't want it to be 2040 and our community is now just getting this information. So if we know how to do stocks, real estate, grow business, do business together. And it's the main thing I talk to people in the culture. I'm like, if all of us came together for one
Starting point is 00:27:00 project with all of our voices talent infrastructure all the knowledge that we have and we're like you talked about we can raise capital we can be worth 15 20 billion dollars in two or three years mm-hmm but it's the ego that usually stops us from doing so but there's usually two sets of information that is given no like even even with authors you know this most authors who are talking about their seven step to do XY, Y, Z, they don't do those seven steps. Like even how to make money in 30 days in real estate. One of the original guys who wrote that book, my mentor, helped craft that book.
Starting point is 00:27:36 It was not true on how he was actually implementing. And that's when I learned, I'm like, oh, they'll sell you a piece of information, but that's not actually what they're implementing. Like I look at somebody like Bob Johnson, that's still the largest black acquisition, I believe ever, right? Three, $3 billion when he sold BET. Viacom. Viacom.
Starting point is 00:27:52 Yeah. But he did that initially. He went and got somebody to help him get the scale. And he, and he brought the Bobcats. That's another thing too. It's like, you know,
Starting point is 00:28:00 people criticize Irv Gotti and we interviewed him. That's coming out soon on Black Effect Podcast Network. Hey. My boy. Hey. But he spoke about why he sold his company for $100 million and it's to do something else. So it's like-
Starting point is 00:28:13 It's a win. Even Richie Lou Dennis from Shea Moisture. Well, yeah, exactly. He's a genius. Rich is a genius. Elon Musk sold, people forget, Elon Musk sold PayPal for $300 million. That's right. And then he went broke
Starting point is 00:28:25 starting SpaceX, Tesla. Now he's almost worth a trillion dollars. So it's like, a lot of times, we have good intentions of like, keep everything. Don't sell anything. And I understand it because it's like, we do need ownership. And we do need generational wealth
Starting point is 00:28:41 and companies that we can pass down to our children. But there's also strategic plans in place as well. Like I said, a liquidity event. If you're getting a million dollars a year on your master's and you have an opportunity to sell it for $100 million. Yeah, or even $80. Yeah. It's kind of a no-brainer. If you're going to blow the money, then no.
Starting point is 00:28:58 But people act like it's such a bad thing. Like, oh, you don't own your master's. Why would you do that? Well, not owning your master's is a bad thing if Like, oh, you don't own your masters. Why would you do that? Not owning your masters is a bad thing if you just come in. Well, yeah, not when it's worth. But if it's worth something that you could sell it, but that's the power of ownership, right? Because you can't sell what you don't own.
Starting point is 00:29:17 Warren Buffett had like, what, 50 investors when he first launched? Yeah. Because he went to a bunch of doctors and got like a certain amount of money from each doctor. And then he had success with that, left, Because he went to a bunch of doctors and got like a certain amount of money from each doctor. And then had success with that, left, and then started to build things on his own. And then also people forget Warren owns the most real estate as well. He owns a ton of commercial properties. So what I want us to do collectively is to invest long term in the stock market, learn how to trade, learn how to build companies.
Starting point is 00:29:43 But more important, we have to come together and support everyone's businesses. Because I really think I think it's a huge mistake and the Jay situation highlights it. You can have a bunch of power, but I think if we teamed up, there would be a lot more. We always talk about moats. So that's a protective mechanism around a business. What separates you
Starting point is 00:29:59 from moats? If you're doing business with people in the industry and the culture and the fan base, it's almost impossible to be canceled. Because your fan base and your investors will be the same group. But that one person can fuck it up. That one person can fuck it up for everybody. And that's the question I wanted to ask you all about. Like, is it even worth being on social media nowadays if you have a business? Because look at, what was that company that just lost all of that money because somebody put out a fake tweet on Twitter?
Starting point is 00:30:24 Yeah. They were falling a little bit before. And even Kanye. because look at what was that company that just lost all of that money because somebody put out a fake tweet on Twitter. Oh, Eli Lowe. Yeah. They were falling a little bit before. And even Kanye. Kanye literally lost his business because of a tweet on social media. I mean, he doubled down. He doubled down and tripled down after. I think that's a rare thing, though.
Starting point is 00:30:37 The Drake champs, I think, is what did it for him. Yes. Yeah. I mean, I think we need to be on social media to promote the business, but my thing has been, like, let someone else run it. Like, I'll come up with some of the content and let them. Because we need to be on social media to promote the business, but my thing has been like, let someone else run it. Like I'll come up with some of the content and let them, because we have to use that vehicle. We can't shy away from it.
Starting point is 00:30:51 I think during the pandemic, we really learned that a lot of businesses that didn't have an online presence, it was hard for them to survive. Yeah. I mean, if you don't have an online presence, how do you reach the masses at this point? Like the way that people advertise is completely different. Even if you look at companies,
Starting point is 00:31:04 they're cutting back on advertised spending. And so if you have is completely different. Even if you look at companies, they're cutting back on advertised spending. And so if you have a platform where you have low overhead to no overhead, and you can get your message out for free, really, to people,
Starting point is 00:31:15 I don't care if it's 1,000 people, it's 1,000 new people. I'm talking Twitter in particular, though. Twitter. I think, so wording is very important, right? And they use words to devalue things like social media. Yeah.
Starting point is 00:31:28 Influencer. Influencer. Social media is media. That's right. So media is extremely important. And how you're growing your brand or getting your voice out there, I don't think there's anything that's ever been created as powerful as social media. It's changed our lives.
Starting point is 00:31:43 That's for sure. So you have to be responsible with it no just anything like a media but when you're building your platforms and this is important to talk about because black media is extremely important and I had this conversation with Angela the other day and a lot of people just think I'll have an Instagram page so I could just post anything but you have a responsibility you don't have just an Instagram page you have a media outlet and when you're posting things that's just detrimental
Starting point is 00:32:08 that's ignorant that's reinforcing stereotypes well you're part of the problem you're not part of the solution and you're not beneficial so when something happens and somebody gets killed then you actually you know saying rest in peace is not really even sincere because you're actually contributing to the to the culture that is leading to young men getting killed so this is a responsibility that people in media have to take more serious because when you look at black media and 95 percent of it is celebrity and gossip based then it goes to show why we're in the situation that we're in in america where a country like china you you know, in TikTok, if you're 14 or nothing, you don't even get pushed none of that.
Starting point is 00:32:47 That's for a reason. They understand the power of that. So a lot of times we don't fully understand the power of what we're doing because the words are so minimal. It's like our influence and not our world leaders. Very few people in the history of the world have ever had a million people that follow them. You have a million followers.
Starting point is 00:33:03 You have half a million. You have 100,000 followers, you're in the top 1% in the world history. So you should take some level of responsibility or at least understand that. So that's extremely important. And it's like when growing a brand, understanding the power of social media,
Starting point is 00:33:17 how to use social media is important, but it's also understanding what not to post, what to say, the responsibility of who not to offend. These are all things that we really have to be calculated about. We were having this conversation in Nashville this weekend. We were just sitting around chopping it up. And I was saying how I think that they're putting too much blame on executives in the record industry. Because to your point, the artists are the ones making the music.
Starting point is 00:33:42 I don't think the executives care that much other than to make some people. But if we're funding drill music, S-scale, I'm from East Chicago, Indiana, 25 minutes from Chicago. If we're funding that in L.A., Chicago, and New York, people are going to gravitate to what pays them. So I know rappers have to take responsibility. But going back to the same Sam Bankman-Fried conversation, if the VCs are funding all these crypto projects and they're saying get us the best gains so we can get the best return, we have to look at the labels in the same capacity and say you're funding the killing
Starting point is 00:34:14 and when they die you're keeping their masters and sales are going up. That would not be legal in any other industry. We have to fix that. Just from an accountability standpoint think about that. If you know that's the case from an overarching theme who's accountable for that, right? Because you are structuring these deals, and you are promoting it at your game. Now, you got the people who are the artists, almost like the pawns in it.
Starting point is 00:34:35 Like, they're looking at it from a standpoint like, it's a chance for me to make money, right? But it's also a chance for you to be a tremendous detriment to the community at the same time. So the people that are constructing these deals, right, there's got to be a certain level of accountability because you can see the long-term effects of it, right? And that's why this is important. Like, even these conversations and platforms are important because it's like, hey, this is a different viewpoint, but it's an important viewpoint. I feel like has it gone too far, though? Because we say drill, but drill's no different than what trap music was.
Starting point is 00:35:07 No different than what gangster rap was. No different than what 50 Cent was doing. It's different because the messaging is, it's progressively gotten worse.
Starting point is 00:35:16 And it's so crazy because, you know, I have a son, my son, shout out to Nas, he's 11. So he was like, I want to go to Sugar Hill.
Starting point is 00:35:22 Can you take me to Sugar Hill? Why? And when he said, no, but when he said that see see you just shit on drill and you're like
Starting point is 00:35:28 where the hell is Sugar Hill why what is I've had a bunch of people that have died no but the thing the thing about Sugar Hill is that
Starting point is 00:35:35 for me AZ one of my favorite rappers of all time so when I think of Sugar Hill I'm thinking AZ's song Sugar Hill and when AZ made that song Sugar Hill
Starting point is 00:35:43 that movie Sugar Hill Sugar Hill and Harlem during the Harlem Renaissance was Hill that movie Sugar Hill Sugar Hill and Harlem during the Harlem Renaissance was like the crown jewel of Harlem that was like the best block in Harlem that's where like all of the wealthy black people live in Sugar Hill so that's why when AZ made that song Sugar Hill he's from Brooklyn but that
Starting point is 00:35:57 song Sugar Hill was like a metaphor of like he wants to live the good life and then I see I'm like what do you know about Sugar Hill and then there's a drill rapper I don't want to mess his name up but it's D. life. And then I see, I'm like, what do you know about Sugar Hill? And then there's a drill rapper. I don't want to mess his name up, but it's Didi Osama, I think his name is. And he's like, he's from Sugar Hill. And he was like, that's like the hood. And I'm, but it's just so crazy how a narrative changes.
Starting point is 00:36:16 Then I'm starting to listen to the music. And then like his friend was 14 years old. Didi Osama's friend is 14 years old and got stabbed to death. And Didi Osama has beef with K-Flock. He's educated me on it. I don't know none of this. K-Flock's in prison. K-Flock's in prison. So I say that to say it's like this drill music is extremely powerful to young people.
Starting point is 00:36:36 Like my son 11 years old he don't even know nothing about that but the fact that he's actually so entrenched in understanding the drill culture is like after a while even if you're the best kid in the world, if you are constantly listening to somebody say, I'm going to smoke my ops and da da da da, it has its effects on you. And it's like a lot of these kids are dying. 14 years old, 60s kids, young kids. So it's like the drill music, I think, is a lot more violent.
Starting point is 00:37:02 You think so? Come on, man. Onyx, throw your guns in the air. 50 Cent, if it's beef cocking and dumping the drama, really mean nothing. I drop by and blow your brains out. You're naming it, but was there balance at that time? Right?
Starting point is 00:37:13 No, not really. No, so if you had Onyx, you had Trap Cold Quest, right? You had different types of sounds. You had Jay. You had Nas. You had different levels of balance that dominated. And to go to era, how many rappers died from gun violence? Now it seems like every month, like I said, I'm from East Chicago, Indiana.
Starting point is 00:37:31 There's a lot of killings that were happening in Chicago before a lot of Chicago rappers were popular. Also, we're going to talk about generational wealth. Notice that these drill environments for music are also in areas in which the banks and hedge funds want to take over that property. So when we get to gentrification, if you have a bunch of killing, a bunch of violence, at some point, legislation is usually passed. Happened in Detroit, right, which you're an investor in. Like the violence was big in Detroit, and then that got gentrified. Happened in Chicago. It's happening here.
Starting point is 00:38:03 So that kind of music is being used as a way to push us out of our communities as well. Really? Yes. Break that down, Ian. If you're looking at the stats, decade over decade, if we have more violence in these cities, the politicians are going to say
Starting point is 00:38:20 we need to clean up the neighborhoods. And then if you clean up the neighborhoods, what do you do? You normally push the people out that are causing all the problems. Then the value is being pushed up dramatically. So at no point do the drill rappers who get killed get their masters usually, their families are not taken care of,
Starting point is 00:38:36 and we're losing their real estate. And then all of a sudden, of course we have the, like you said, RIP on social media, but the economics are not coming back into our households and our communities. So it is being used as a mechanism to be able to take away from us. You see Mayor Eric Adams was talking about banning drill music, and there was a huge backlash.
Starting point is 00:38:56 Which I saw him yesterday. What do you think your responsibility is as you guys don't have radio programming, but you're still in radio? What is your responsibility? How do you feel about drill music? Not just drill music, but just music in general, because it's like if you're talking about popping pills and drinking lean and smoking your ops,
Starting point is 00:39:15 and what do you think your responsibility is as a, like what do you guys feel about that? I mean, it's interesting, right, because I'm 44, so I've been seeing this since the 90s since the rise of you know gangster rap so a lot of it for me was normalized until i got older and you start to be like oh no you know what i mean but for me i think my responsibility as a personality is just to at least try to provide balance yeah you know like in conversations like this or even just hearing some of that stuff and being like, nah, bro, that ain't it.
Starting point is 00:39:48 You know what I mean? Like when I heard Moneybagg Yo say he's trying to find therapy in his cup, you know, I'm like, nah, that ain't the line that we should be. Champion. Nah, you know? Yeah. So that's all I can do. Angela? I mean, but as far as that, I mean, that is what really happens in rap and not.
Starting point is 00:40:06 People do try to find therapy, and that's an honest thing, right? And so I do feel like— Does life imitate art, or does art influence life? I think that art— Influences life. I used to think that. No, no, no, I think that— I thought that until it started being very profitable in the music industry to pretend to be something you're not.
Starting point is 00:40:25 And that's why the whole movie CB4 even existed. There was a lot of people that started pretending just because it was profitable to do. Well, I just think it's about perspective, too, like how you're framing it. Like if you're saying, I was trying to find therapy in my cup, but now you've realized...
Starting point is 00:40:36 You know, it's because that does really happen. It doesn't even matter what field you're in. People self-medicate. That happens to people all the time. Sometimes people smoke weed because they don't want to think about things. They drink all the time because they're going through something. And so I don't know that that's because of music.
Starting point is 00:40:49 I do feel like that's a real thing. But that's the state of where they were at at that time. Right. And I think we had that conversation the other day. It was like, very rarely do we get to see our artists mature. We don't get to see growth. We don't get to see accountability or responsibility. Because when they
Starting point is 00:41:05 try to make that pivot it's not profitable anymore you see what i'm saying and so like if i know that's the new message right like i compare it to when i grew up listening to nas and then i heard life is good and i'm like wait this is different he's talking about daughters i have a daughter when i heard jay on 444 talking about responsibilities inside of a marriage that's different from the guy i heard on reasonable doubt and it was like yo that's growth that's maturation we've grown with him whereas we don't see that we don't get to that point we talked about the gz situation i'm like yo i remember when it happened i'm like yo that's growth everybody was like yo he's a sucker for doing i'm like nah that's growth bro like that's the dude that's a snowman who just had opposition
Starting point is 00:41:40 in his face and was mature about it and left, right, peacefully. And now you see the other part. Obviously, Gucci was like, you know what, I was wrong. That's also good, but we don't get to see it. Well, I think, like, look at Lil Baby, somebody like him, for instance. And then you see the positive things that he's doing now, even off camera. And then the song, The Bigger Picture, was huge for him. Yes. And so I do feel like people, artists, do have that.
Starting point is 00:42:02 I just feel like sometimes it's also experience. Like, for us, we don't know better better we don't do better till we know better and sometimes it is those experiences and having things happen that help you grow because you could tell somebody to do something but until they have an experience that makes them look at things differently it's hard for them to grasp that we have to as older people would experience at least one of them was coming but I just think about myself like you couldn't tell me what to do until something happened. And I'm like, oh, damn, I can't.
Starting point is 00:42:28 You know, and it's unfortunate, but sometimes there's a lot of people that will tell you what to do. I mean, but we have to start teaching our kids earlier. Because the core of all of this is lack of money. So even if I'm looking at artists that are promoting certain lifestyles, most of them sign bad deals. A lot of shows are not there. They're getting taken advantage of in many ways, and I think that's why these conversations are important. Thank you for having us here.
Starting point is 00:42:52 Because I truly believe if we start teaching, I started teaching my son that too, how to invest and how to trade. Like if we teach our kids early and that passes into the community, and that's why we always say on the show, like share the information with your friends. Because I truly believe if we can make our communities rich before the streets get to them
Starting point is 00:43:09 we will eliminate a lot of these problems there will be no desire for drill rap if like we can show a 13 year old how to code how to trade how to invest build media and now he's making 30 50 000 a month so we have to use our voice information in our light to get to them before the streets does because when i was growing up all the elders would tell the light to get to them before the streets does. Because when I was growing up, all the elders would tell the kids to get off the street, but I'm like, you have no alternative for them. We have to get to them before the drug dealers and the street does.
Starting point is 00:43:33 Yeah, and it's like one of those valuable lessons, the difference between entertainment and career. Yeah. We had this conversation a few years back where it was like, we grew up thinking rap is going to be our career, whereas other groups think that that's just entertainment. Right, because the career is going to be in other fields. know what i'm saying it might be invested it might be in finance it might be in education but we only
Starting point is 00:43:52 see sports and entertainment that's why i said like growing up it was like all right that's the only things we could aspire to be yeah but now like especially with having media especially black media that like people like us and people, others in the space, they're showing different outlets. So now the education piece, you're not going to sign that bad deal or you're not looking like, yo, this is the only way to make it out. Like I just watch guys make $10,000, you know what I'm saying? Like in a year of investing.
Starting point is 00:44:17 And so it changes the trajectory, right? When we expose them to education and change the mindset and change what they think they can be, it changes the whole community. What do you think we can do to make that cooler, though? I think it's happening now. Even if you look at the last decade, the three biggest rappers of the last decade ain't even on that. Kendrick,
Starting point is 00:44:36 Drake, J. Cole. I mean, Future's probably the fourth person I would put on that list, right? But it's like those three, they're not even on that. No, it's happening. We need more amplification. Me and 19 Keys were talking about this. We had a live and it's like alright, we go to London
Starting point is 00:44:51 and we sell out Royal Albert Hall, which is the most prestigious venue in Europe and one of the most prestigious venues in the world and it's 98% black people in there. That's something that needs to be amplified, not just for our own self gratification,
Starting point is 00:45:08 because it's important message. And it's a very symbolic message. Just like the MSG situation is very symbolic. And this needs to be championed by everybody because it's like, all right, there's no more important issue than financial literacy right now for our community because financial literacy, like you said,
Starting point is 00:45:24 it goes to health. It goes to mass incarceration. It goes to mass incarceration it goes to politics it goes to everything yeah so if we can get out thousands of people whether it's invest fest whether it's new york whether it's london this is a global phenomenon this means that people are interested this means that the conversation is changing but we need help we need help amplifying that and we need help showing that because everybody's not aware of it if you're not in the space you might not have known what have happened but it's just like how we hear the same song on the radio every day and then we like okay i know 21 savage and drake have
Starting point is 00:45:54 an album because every outlet is posting it and i'm hearing it every single time so even if i'm not a 21 savage or drake fan i'm at least aware of what they have going on. The same thing needs to happen when a financial literacy movement that you see is making changes and is happening, and we are getting a lot of attention. And shout out to you guys. You guys have championed us. But we need more of it from everybody. And like I said, this is something that is extremely beneficial,
Starting point is 00:46:20 and this is how we start to change the narrative. Narratives are very, very important. So instead of the narrative being the only black people, basketball players and rappers, no. The narrative is that we can start media companies, we can be investors, we can have trucking companies, we can be public speakers. That's a new narrative.
Starting point is 00:46:36 Not to say that anything is wrong with sports and entertainment, but there has to be a balance. And the only way to create that balance is to show an alternative. Can I ask you guys to get on in y'all business? Since we're talking about this. There we go. What are the plans long-term for Earn Your Leisure? We know, tell us about the Steve Harvey situation.
Starting point is 00:46:52 Do you plan to go public? Since we were talking about valuations. Yeah, for sure. Shadi like, I don't like this. I mean, y'all be asking everybody else now. Cut the lights off. But no, I think that Steve Harvey has been a great relationship for us. And that's something.
Starting point is 00:47:11 So he invested in Earn Your Leisure? He did not invest in Earn Your Leisure, but we did partner on InvestFest. Okay, so he's part of the festival. Yeah, he's a partner in InvestFest. And I'm sure we'll probably do a lot more things together with him as well because he's a very astute businessman, and he sees the value in what we have created. So he's looking to do more things with us, and we're looking to do more things with him. And as far as the brand of Earn Your Leisure, I think that we've created a very good media company
Starting point is 00:47:41 that can grow to become one of the top media companies in the world. And that's the goal is to really grow it as big as Al Jazeera's and grow it as big as Complex or bigger. And, you know, that all encompasses the live events, that encompasses content, that encompasses education, that encompasses a lot of different things that we have going. And as far as the, yeah, it would be great to have it on the stock exchange, especially since we talk about stocks so much. I think that that's something that would be great to have it on the stock exchange, especially since we talk about stocks so much. I think that that's something that would be extremely important and another symbolic gesture for the culture to see a company that started with a couple of iPhones.
Starting point is 00:48:14 And you literally start from one follower on Instagram. Some people have been with us since we had 100 followers from day one. It started as a podcast, then goes to a podcast network, and then grows to a media company, then has live events, and has an educational component, and then, you know, has a lot of other people that are encompassed in a situation, whether it's 19 Keys, whether it's Ian, whether it's Injury Mortgage Guy, whether it's Wall Street Trap, you know, a lot of different people. So I think that it's a great story to tell because it's black people working together. It's happening in real time.
Starting point is 00:48:47 It's bootstrap. It's working with our friends, all of our people that work for Earn Your Leisure, people that we grew up with. Would you put Earn Your Love under that? Earn Your Love is 100% coming under the umbrella. But think about that. When we talk about a narrative, imagine now seeing that.
Starting point is 00:49:03 We've seen companies get publicly traded, but we didn't know how they started. People literally have watched this from the dining room. And given you the blueprint in real time. This is happening in real time. So that's the power of media and, I guess, social media. People have literally watched it. They've seen us on iPhones. They've seen us.
Starting point is 00:49:18 We told them the equipment we were using. We told them we were going to be here. We shook hands. We met all these people. We talked about all these things and now it's a narrative but it's also a learning experience. This is like the real Nat Geo.
Starting point is 00:49:31 You're watching us do this in real time. To see a company that can go public or have a billion dollar valuation, think about the aspiration it does for a generation of people. Kids are looking like, that was my teacher. I remember when I used to watch him play ball. Yo, I remember when he was
Starting point is 00:49:47 in Indiana walking the hall. Like, they're watching this happen and they know the people. So it makes it completely relatable, but it makes it aspirational too. But also, one last thing I wanted to say
Starting point is 00:49:55 that's extremely important. It's also important for us to help grow other brands as well. Yeah. So it's like, we partner with Charlamagne and the Black Effect podcast network
Starting point is 00:50:06 because we see the value in that and we see the value in collaboration. We partner with Revolt because we see the value in Revolt. I like what they're doing over there.
Starting point is 00:50:14 Shout out to Dottavio and Dion and Diddy and all of that. These are things that we're not afraid to work with other people. It's like, we have our thing,
Starting point is 00:50:21 but it's not 100%. We have to have everything ourself. Like, nah, let's put a show on Revolt. Let's have our podcast on this network. Like, this is how, as he gets bigger, we're going to get bigger. And as we get bigger, he's going to get bigger. And this is what Steve Harvey sees, right? So it's like, all right, Steve Harvey is already up a couple hundred million dollars, but he sees the value in us on a grassroots level and how we can help amplify his voice to a younger generation.
Starting point is 00:50:46 So we're beneficial to him and he's beneficial to us. So that's extremely important. I want to hammer that in. A lot of times people are too self-centered and they're too concerned about what they have going on and they don't want to work with anybody else. We have to stop doing that. The only way to go to that billion-dollar, multi-billion-dollar valuation is collaboration. That's right.
Starting point is 00:51:06 You never build anything by yourself. There's no such thing as self-made. You have to work with other people. You have to work with other brands. You have to work with other companies. You have to know how to negotiate. You have to be diplomatic. You have to be, you know, a gentleman.
Starting point is 00:51:19 Like, these are all things that's extremely important. And it's like the narrative of being a hot-headed businessman that's yelling at people, cursing at people. When it's in real time, it's not working. It's not. narrative of being a hot-headed businessman that's yelling at people, cursing at people. When you're in real time, it's not working. It's not. You got to buy that 1942 for everybody. By the way, it never works. It never works.
Starting point is 00:51:32 We're the only culture that does not pride ourselves and team together. All the banks work together. We were at the exchange. Company went public. All the banks that you see warring against each other, they were all listed as partners as one so we've teamed up and done stuff they doing stuff with Steve me Allison Weezy teamed up did studio in LA like the only
Starting point is 00:51:52 way to create generational wealth is to build with your friends and then we have to put ego away and like you said you can't be a high head and go off like this Tupac's my favorite person like going back to the culture of rap and I don't even know back then like Tupac was claiming blood person. Going back to the culture of rap, and I didn't even know back then, Tupac was claiming blood, knowing he didn't grow up in that. One small high-headed mistake ended up costing him his life. So I think we
Starting point is 00:52:14 need to have... Multiple. But that one in Vegas. But when you have counsel and you have friends that can check you and say, hey, no, brother, you're doing this wrong this wrong fix this here or maybe we need to progress here that's why i always tell everyone let's figure out ways to team up and do more things like i'll talk to you from 85 and be like hey well guys like we have to continue to grow because i hated that rockefeller murder inc
Starting point is 00:52:40 rough riders back in the day didn't do more but now we are in in a position to be that and do that kind of like cash money tool. This is the new hard knock life tool. Absolutely. Because like if Jay-Z and Murder, Inc., if they would have just put in $13 million in 1996, just let's say into Apple or any fund, till this day, they would be up $7.5 billion and never have to release the album. I don't think they had the tools, though. I get what you're saying. They didn't have people teaching them financial literacy back then. And just even on the mental health advocate,
Starting point is 00:53:13 so it's just like mental and emotional health keeps you from being that angry hothead who's projecting all your insecurities on the other people. I don't think they had those tools back then. Can you give us three tips to be more peaceful? Because I really admire you and troy every time i talk to y'all no matter what happens you guys are like happy me and rashad working on it so how can we be happy my inner dame dad i always want to argue with everybody for no reason i mean the biggest thing i tell people is go to therapy number number one. You know what I mean? How do you find a good therapist, though?
Starting point is 00:53:47 It takes a while. It's not easy. You know what I mean? You answered this wrong, man. We're going to leave with our wives on the route. Oh, 100%. 100%. 100%.
Starting point is 00:53:57 100%. I was going to say God. I mean, mine is therapy, God, and black women. So my wife, you know what I mean? But definitely. But, you know, definitely start with therapy. Therapy is the gateway drug to it all. I think.
Starting point is 00:54:07 Gotcha. Okay. Therapy. Therapy is a gateway drug to it all. That's right. Hashtag that. Market Monday's live with earn your leisure in Dunlap Sunday, November 27th,
Starting point is 00:54:18 Hulu theater at Madison square garden. The tickets even still available. Yes. Yes. They are. You can go to earn your leisure.com market mond marketmondays.com, tab on our website. Yeah, it's a few tickets left, so get them. Yeah.
Starting point is 00:54:30 And it's going to be a night to remember. What time will be had? One year of Stock Club, which normally costs $10,000 when you get a ticket. One year of Sniper, which teaches you how to trade. So if you need a quick target, 123 points on a Dow or NASDAQ. If you trade 33 contracts, it's $20,000. He didn't speak English. What did he say?
Starting point is 00:54:47 The market is falling. It goes up 123 points. You can make money as it goes up. If it goes down, you can make money as it goes down. Right? So I'm giving them a target to use every day because normally when a Dow goes up or down on NASDAQ, it normally goes up 400 or 500 points. 123 points is the easy target we can use to be able to make money.
Starting point is 00:55:10 And, I mean, that was funny, but we were here, and the reason why it may not sound like English, and maybe we need a therapy and financial literacy segment that we can partner on, but if we're hearing rappers talking about selling drugs openly on air, why aren't we having these conversations about where this sounds like English to the culture? That's true. That's the fluency part. That's very true. We focus so much on just being literate, but yeah, that's the ability to read and write.
Starting point is 00:55:34 But now, let's have the next conversation where we're actually fluent in the language. So it doesn't sound foreign to you anymore. That was a stock tip you just gave. It was just a segue. I didn't know what you were doing. I didn't know what you were doing. I didn't know what you were doing. I'm like, what are you doing here? We appreciate you guys.
Starting point is 00:55:49 I appreciate you so much. Go to earnyourleisure.com, marketmondays.com, get your tickets. Floyd Money Mayweather, we have a conversation with him. Don Peebles, billionaire real estate developer. Jada Kiss will be performing. We got Peter Tuckman. We got Miles Jones. We got Sussman.
Starting point is 00:56:02 We got all of us. We're going to be there. You guys coming? And a bunch of surprises. And that was exclusive, by the way, that Floyd Mayweather is going to be having an exclusive That's exclusive. One-on-one. Exclusively dropped on The Breakfast Club.
Starting point is 00:56:12 Love y'all. The champ. Hey. The champ is here. We can't just do that. The champ is here. The champ is here. It's Ernie Legious.
Starting point is 00:56:19 Ian Dunlap is The Breakfast Club. Hey, guys, I'm Kate Max. You might know me from my popular online series, The Running Interview Show, where I run with celebrities, athletes, entrepreneurs, and more. After those runs, the conversations keep going. That's what my podcast, Post Run High, is all about. It's a chance to sit down with my guests and dive even deeper into their stories, their journeys, and the thoughts that arise once we've hit the pavement together. Listen to Post Run High on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Had enough of this country? Ever dreamt about starting your own?
Starting point is 00:57:23 I planted the flag. This is mine. I own this. It's surprisingly easy. 55 gallons of water, 500 pounds of concrete. Or maybe not. No country willingly gives up their territory. Oh my God. What is that? Bullets. Listen to Escape from Zakatistan. That's Escape from Z-A-Q- Stan on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. As a kid,
Starting point is 00:57:50 I really do remember having these dreams and visions, but you just don't know what is going to come for you. Alicia shares her wisdom on growth, gratitude, and the power of love. I forgive myself.
Starting point is 00:58:03 It's okay. Have grace with yourself. You're trying your best and you're going to figure out the power of love. I forgive myself. It's okay. Have grace with yourself. You're trying your best. And you're gonna figure out the rhythm of this thing. Alicia Keys, like you've never heard her before. Listen to On Purpose with Jay Shetty on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.
Starting point is 00:58:19 Hey, what's up? This is Ramses Jha. And I go by the name QWAR. And we'd like you to join us each week for our show, Civic Cipher. That's right. We discuss social issues, especially those that affect black and brown people, but in a way that informs and empowers all people.
Starting point is 00:58:32 We discuss everything from prejudice to politics to police violence. And we try to give you the tools to create positive change in your home, workplace, and social circle. We're going to learn how to become better allies to each other. So join us each Saturday for Civic Cipher on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts. Hey, y'all. Niminy here. I'm the host of a brand new history podcast for kids and families called Historical Records.
Starting point is 00:58:58 Executive produced by Questlove, The Story Pirates, and John Glickman, Historical Records brings history to life through hip-hop. Each episode is about a different, inspiring figure from history. Like this one about Claudette Colvin, a 15-year-old girl in Alabama who refused to give up her seat on the city bus nine whole months before Rosa Parks did the same thing. Check it. Get the kids in your life excited about history by tuning in to Historical Records. Because in order to make history, you have to make some noise. Listen to Historical Records on the iHeartRadio app, Apple Podcasts, or wherever you get your podcasts.

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