The Pomp Podcast - #789 Bitcoin & Philanthropy w/ Bill Pulte

Episode Date: January 20, 2022

Bill Pulte is the leader of Pulte Capital, inventor of Twitter Philanthropy and is the author of the new free E-book "The Home That Pulte Built", a book dedicated to his grandfather. Bill joined us in studio for 2 hours on The Best Business Show. In this conversation, we discuss Bitcoin, why Bill believes the next six months may be difficult in the market, the current state of the housing market, Bill's current investments, and his philanthropic impacts. You can watch the full interview on the new Best Business Show Live Youtube Channel. https://youtu.be/uJ48yt87DAo ======================= Mode, UK Fintech app, allows you to buy, earn and grow Bitcoin, all in one app. Not only is it a secure app to buy & hold Bitcoin, Mode allows you to pay & receive up to 10% Bitcoin Cashback from its growing list of online partner brands.   Available on the App Store and Google Play. Download Mode at modeapp.com and set up your account to be in with the chance of winning ONE WHOLE Bitcoin. Offer ends Jan 31, 2022. Only available in the UK. ======================= My friends at Coin Cloud will give you $50 in FREE Bitcoin when you buy $200 or more at any of their 4,000+ machines. Use promo code POMP to get your free Bitcoin. For details or to find your nearest Coin Cloud machine, visit www.Coin.Cloud/Pomp   Coin Cloud has been serving customers since 2014 and has established itself as the world's leading digital currency machine (DCM) operator. More than just a Bitcoin ATM, Coin Cloud machines make it easy to buy and sell Bitcoin and 30+ other digital assets with cash. To find your local ATM and get $50 in free Bitcoin, visit www.Coin.Cloud/Pomp ======================= Fundrise is largest direct-to-investor real estate investment platform out there, giving you the opportunity to achieve upside of an asset class previously reserved for institutions and high net worth individuals. That’s right, Fundrise is making high-end private market real estate investing accessible to everyone via an easy-to-use, automated platform. See for yourself how over 190,000 investors have built a better portfolio with private real estate. It takes just a few minutes to get started with as little as $10. Go to Fundrise.com/Pomp today and, for a limited time, get $10 when you place your first investment. That’s Fundrise.com/Pomp =======================

What's up, everyone? This is Anthony Pompliano. Most of you know me as Pomp. You're listening to the Pomp Podcast, simply the best podcast out there. Now let's kick this thing off. Bill Pulte is the leader of Pulte Capital. He's the inventor of Twitter philanthropy, and he's the author of a brand new ebook, The Home That Bill Pulte Built, which is a book all about his grandfather. I really enjoy talking to Bill. He's got great insights into everything from business, investing, and philanthropy, and I hope that you enjoy this conversation. But before we get into this episode, I want to quickly talk about our sponsors. Today's episode is brought to you by Mode.

Mode allows you to buy, earn, and grow Bitcoin all in one app. Not only is it a secure app to buy and hold Bitcoin, Mode allows you to pay and receive up to 10% Bitcoin cash back from its growing list of online partner brands. Mode, the UK fintech app, is one of a kind. They're FCA registered and are listed on the LSE in the UK and the OTCQB in the US. They choose to hold Bitcoin on their balance sheet. they are piloting a bitcoin payroll product to pay uk employees in bitcoin mode is giving away

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slash Pomp and use promo code Pomp to get $50 of free Bitcoin when you buy $200 or more at any of their machines. Today's episode is brought to you by Fundrise. You all know I believe that the best investors both understand and seek out extreme asymmetry. Fundrise is here to help you do just that. It's the largest direct-to-investor real estate investment platform out there, giving you the opportunity to achieve upside of an asset class previously reserved for institutions and high net worth individuals. That's right. Fundrise is making high-end private market real estate investing accessible to everyone via an easy-to-use automated platform. Its 1 million users already know that the investment with Fundrise is capable of producing

strong appreciation returns and income generation while helping to stabilize a diversified portfolio. That's more important now than ever in our inflationary environment. See for yourself how over 190,000 other investors have built a better portfolio with private real estate. It takes just a few minutes to get started with as little as $10. Go to fundrise.com slash pomp today, and for a limited time, you'll get $10 when you place your first investment. Again, that's fundrise.com slash pomp. Go check it out, and when you make your first investment, they'll give you $10 on top of it. Fundrise.com slash pomp. Anthony Pompliano runs Pomp Investments. All views of him and the guests on his podcast

are solely their opinions and do not reflect the opinions of Pomp Investments. You should not treat any opinion expressed by Pomp or his guests as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of his personal opinion. This podcast is for informational purposes only. We have a very, very special guest. We have Bill Pulte here with us today, all morning. He is, I think we should start calling this like a guest host. If you're going to be here all day, it's not a guest, it's a guest host. How are you? Great. Pulte and Pomp.

Pulte, Pomp, Pomp Boys, Pulte, Pulte Homes. I mean, we've got all kinds of stuff going on. Lots of P's going on. First, Bitcoin. Let's start there. Yeah. What are your thoughts on Bitcoin right now? You smile as soon as I say Bitcoin.

So what are you thinking? How can you not smile when you hear Bitcoin? You know, I'm going to take a little bit of a different stance than probably you guys have. I think that, and I tweeted about this the other day, and the Bitcoin press was all like, oh, Twitter philanthropist thinks Bitcoin's going to crash. I didn't say that. But I do think that it's going to be a little difficult in the coming six to nine months, I think. I think we're kind of, this is a little contrarian, but I think we're kind of at peak inflation.

That's my view. Okay. So when you think about, let's start first with Bitcoin and its relationship to inflation. Your thought process is as inflation goes up, more people are excited about Bitcoin. They look at it as an inflation hedge, and therefore there's a relationship between price should go up as inflation goes up. Well, look, you know a lot more than me, and you guys know a lot more than me about this. But from my perspective, and don't get me wrong, I'm big on Bitcoin being a currency. I want it to be a currency.

But I think right now it's a commodity. And so, you know, I think that what we're seeing in some of these commodities and the fact that Bitcoin is down so much and you're seeing just it's like disinflation almost with some of these commodities. Oils may be an exception. But I think you're starting to see some, you know, cratering, not cratering, but some weakness in the commodities. And I think that that could potentially get to Bitcoin. Now, am I a buyer? Abso-effing-lutely. But not now, not now.

Because I have a lot of Bitcoin. So it's kind of like, you know, OK, I'll wait for a little bit of softness and then I'll hit it hard again. OK. So when you think about. But obviously no one knows. I don't know. Yeah, of course. When you think about things like El Salvador, let's start there, like a country now, right?

I think this is the last time we talked is like pretty much plugging their entire country into Bitcoin. Some would say in an irresponsible way, some would say in a very responsible way. Like, how does that change the viewpoint of maybe your peers or friends of yours in finance or investing? Do they now say like, oh, it's legit because there's a country doing this? Or do they look at them as the outlier and they're like, look, it's, you know, it's El Salvador. It's not the United States. It's not, you know, France or something like that. Well, we could talk about my peers, people that you and I know and those type of things,

but let's throw them out the window for purposes of this. Let's just look at third world countries and poverty and remittances and stuff like that. You know, one of the things El Salvador did is, you know, the president there is kind of flashy, right? And so, you know, he's able to get promotion. Well, what about all the third world country leaders who are not as flashy and not as savvy as the guy in El Salvador? And so I don't know if you saw yesterday, but Cash App is going to be doing lightning,

right, which is your big deal. you know, lightning on the Cash App, right? Free transactions. Yeah, Cash App is integrating with the Lightning Network, yeah. And then, you know, Cash App just did that deal, Affirm or whatever, which I guess is, you know, expands their international reach. So you can envision a world where pretty quickly Square, I mean, just if you take that company in and of itself, they're going to be just unlocking Bitcoin to all of these countries everywhere. And I just don't think that people fully understand that yet. I mean, I think the El Salvador is a shiny little object, but

I mean, there's so much poverty and corruption in these countries. I mean, I see it every day. I mean, from Philippines to Indonesia. I mean, you should see these people in Twitter philanthropy where they're from. They're from all over the world. Yeah. Well, what's fascinating to me is so Cash App Strike, there's a bunch of these companies that now are plugging into the Lightning Network. And for those that don't know, most of these applications used to be walled gardens or closed. Right. So let's say I have money on my PayPal account and I want to send it to bill he has to have paypal i have to have paypal if i have a venmo account and john wants money john has that venmo in order for me to send it via venmo and so each one of these

networks was closed now all of a sudden they integrate with the lightning network and now a venmo user if it was on the lightning network could send money to somebody on cash app cash app could send someone to paypal paypal could send a strike and what you get is uh for the peer-to-peer payment systems that's interesting right okay like that that solves some problem but even more importantly is then when a bank starts to plug in so we've seen banks in nigeria in australia in mexico etc start to actually set up their own lightning nodes and they'll say things like hey anywhere in the world regardless of what app you have you can now send money to a user of our bank because we have a lightning node and i think what it does is it just creates this like connectivity

around the world where it breaks down those barriers and makes it much easier to send economic value yeah and it's a virus and it's happening right now yeah you know people are complaining and i saw your tweet the other day i agree with it about these scams on twitter and how many scams there are. But I look at it and I say, okay, yeah, that's a problem. But look at the frequency of which it's increased. And if you really look at it and you look at who's doing it, it's a lot of these third world countries putting their BTC addresses

and those type of things, right? And I've seen that go up significantly. It's crazy. Yeah, I think it's like a virus. I don't think it can be stopped. Yeah. All right, for everyone who's watching, we're going to do a bunch of giveaways today.

So one, Bill already announced one giveaway. Tell us the details of this giveaway, and then we'll tell you what we're going to do. Yeah, so many of you know that my grandfather founded Pulte Homes, which is a great business. And he founded it in 1950, and it's today about a $14 billion company. When he ran it, it was about a $16 billion company. But basically, it went from being a small-time home builder to the number one home builder in the country. And what I wanted to do was really memorialize and document, especially while I was fresh in my memory at a young age, because I'm 33. My grandfather was 85 when he died, was get his stuff in into writing. And so

here's my book. And it's written by William J. Pulte. And William J. Pulte, which is my grandfather, it's for free. I was selling it for the big fat price of $0. And again, I'm just trying to really help teach a way that my family was able to make money and be able to allow other people to make money, just like my family has, because everybody should be able to have access to wealth, in my opinion. So we are going to be picking on the show here today, somebody to get $10,000 who has read this book. It's very, you know, it's a very light read. It's a very good read. It's, you know, it's about my grandfather and I. And, you know, somebody who can really use the $10,000, whether that's for a business, whether that's for, you know, anything. And so

we're going to be doing that. And then in a couple of days, I'm going to be doing another 10 grand and another five grand and so that's really what we're doing i don't know if anyone heard that but bill said he's gonna give out ten thousand dollars to somebody who read the book so you guys might want to go get the book where can we send people to go get the book as a starting point polty.org backslash ebook it's finally back up the site crashed yesterday but uh really we're back oh yeah what would happen when uh when the site crashed you just sent so many people that i we put it on dropbox and they could handle the traffic so yeah it was it was insane all right so bill's gonna give away ten thousand dollars great book name by the way yeah that's what

you're excited about yeah it's a good name all right god first family second pulte family third you know explain that well my grandfather's philosophy was basically like you know look like a pulte family being like whether it's your you know business or or what have you you know you want to put god first family second and then business after that in kind of that order so Sometimes people get things mixed up and they put their business before those two. And he would always say to employees, today it's called work-life balance, but he was a little bit more explicit and said it that way. Yeah, I love that.

The ideas that are popular today, they're not new, right? It's just somebody had a different way of describing it before. All right, so you're going to give away $10,000. We're going to do that a little bit later in the show. Let's start first with yesterday, Francis Ngannou, I think is how you say his name, the UFC superstar. He says he's going to get paid in Bitcoin. What's going on with that?

yeah he's uh he's from africa he tweeted a few days ago saying uh i really like this bitcoin stuff i've been learning a lot about it i bought some i think it's the future uh i'm thinking about taking 50 of my purse in bitcoin and i guess cash app hit him up right afterwards and was like hey we should do this together because literally two or three days later he announced a deal with cash app where he's going to be taking it uh 50 of his purse at the next ufc event in bitcoin uh he said bitcoin is the future and i'm a believer and then they gave away standard kind of uh cash i give away they gave away some bitcoin as well as with the announcement uh so i think it's interesting yeah this is uh this is his actual announcement yesterday he gave away they gave away three

hundred thousand dollars in bitcoin but i think it's interesting he uh he obviously understands like this is back to our point of like people outside of the united states that don't deal with these issues all the time of remittances and all these different things and and uh the difficulty of being underbanked or unbanked uh the the problems that these people face and he's seen this stuff firsthand back in his home country so i think uh it makes sense for him to understand kind of how the technology works and why it's useful but it's crazy to see like this this is just continuing to happen right i think culture is becoming uh this stuff is becoming ingrained in culture we've seen plenty of athletes musicians entertainers all this kind of stuff of people that

want to be paid in bitcoin and i think it's uh it's fascinating to see do you think every athlete bill will eventually just take bitcoin uh or like a part of their salary bitcoin probably not no no i don't think so because it's too speculative i mean maybe but um i don't know do we need them to take it no but i think that it's like now it could become like cool yeah right like like odell beckham jr does it right uh francis does it uh aaron rogers did it saquon did it uh russell okung who everyone forgets he was the first one to do it right uh they almost kind of made it a thing where like you do it sure there's an economic benefit but like this signals i'm forward thinking the signals is part of my brand like this is you know what i'm uh how i think

about the world almost to some degree yeah yeah i mean maybe i don't know uh i just again get back to the point forget all of us for a second forget the americans look at what's going on in in these worlds in these third world countries i mean these currencies they're being inflated i mean these they're not worth anything uh i mean bitcoin is going to literally you know transform these these countries yeah yeah we were talking about turkey the other day right uh when the news came out they lost 50 percent against the u.s dollar in a matter of days like virtually overnight people couldn't get money out of banks right there's a whole set of issues and that's just one example but this happens all over the world like how many people are there in turkey i don't

even know yeah i don't know look a few hundred million at least turkey population 84 million 84 million yeah that's a lot and you know you get a hundred other companies that are hundred other countries that size. I mean, that's, yeah, that's double United States, right? Yeah. It becomes huge. All right. Second thing I want to talk about, uh, is housing. You and your family have been in the real estate game for a long time, uh, in various aspects. Obviously there's Pulte homes, right? A number of other aspects. What's going on in the real estate market right now? It seems like residential is just exploding in price. Well, the last time I was here, if you may remember, we were talking about supply chain issues and those types of

things. I think they're real. I think that it's going to definitely continue to be a hard time for housing in terms of the supply aspect. But I think you'll probably see some relief come the second half of the year in terms of supply chain, availability of product, etc. So do you think that housing is being appropriately measured within the inflation number? So yeah, I saw the other day. And tell me where that where we think this is going. But I saw the other day, the breakdown was like, uh, it's about a third of the, of the CPI is, is shelter. Uh, and they have it at 4% currently, but basically every other metric or kind of measurement system you use, whatever you want to do is somewhere between like 15 and 30%.

So it's drastically being undermeasured when it comes to CPI. Like, what are your general thoughts on that? I think that as long as supply remains low, um, and interest rates remain low, that, uh, it'll be hard to buy a house for a low price. Yeah. But if let's say, for example, these guys, have you seen how BlackRock and these other guys are going in and buying property and then renting it out? Yep. You know, if that supply ever comes online, then you could see, I think some disinflation in housing prices, but I think you're going to see it in other commodities before you see it in housing. In fact, I think housing could be strong through the end of the year, frankly. Do you think the real numbers somewhere between 15 and 30?

uh percent from a housing standpoint yeah i mean well i mean the average rent in america is up i think it's like 15 or 20 rentals are like average home prices are up but where is it going to be in a year or two i don't know yeah um well and also how much of it is year over year change right so obviously it's not going to compound at 20 a year every single year for a decade right well exactly and think about it like last year what did they have you couldn't evict people you couldn't really pass on price increases because it was the middle of a virus. So, you know, that's where I come out with Bitcoin is I'm the biggest bull on Bitcoin, but I just say, you know, maybe there's going to be a little bit of a breather here. And I hope so in housing because people are just, it's hard.

It's very hard. In fact, I've been really pushing Pulte Homes, which I should say, you know, I'm not affiliated with, I don't speak with, I don't, I don't speak on behalf of them rather. I'm no longer on the board there, et cetera. So I can make these comments, but you know, I've been really pushing them on getting into rentals. I've been public about that on Twitter and we'll see, we'll see if that ends up coming to fruition. That would be very nice because I think, you know, frankly, whether it's Pulte Homes or some of these other big home builders, you know, they could do a great service, I believe. And some of them are frankly, D.R. Horton, Lenar, those are the number one, number two builders now. You know, they're starting to

offer those type of rental properties because, you know, you look at some of these prices of these homes i mean it's unbelievable what people are yeah here in miami we've seen uh so rents for apartments are up about 20 25 percent a bunch of people who moved from new york san francisco etc uh last year all their rental agreements now are coming up for renewal and so literally there's just 20 25 increases which is a little sticker shock especially if you come from a place like new york where there's rental controls and things like that um so i think that's one thing going on But the home prices, like if you go on Zillow and you look at some of these homes and you basically just go to the price kind of history, what Zillow shows you is what it was listed for, if it was removed or increased or whatever.

And you'll see a home that was listed in, you know, May of 2020. And let's say it was listed for two million dollars. It's now listed for six. And you can just see every couple of months they just kept increasing the prices trying to solicit a buyer. Now, nobody bought the home. Right. So maybe they're overpricing or whatever. but the rate at which they were increasing that price is hundreds of percent in some cases and so to your point i don't think it can go up forever obviously from a rate of change what i what my big question is is let's say a home was two million now let's just say that it's four so kind of doubled over the last year or so in these what geography are we talking about because in real

estate if somebody's listening to us and they're in nebraska right that's going to be completely different than miami south bend indiana is going to be completely different than phoenix arizona i I just wonder, will we see lower home prices than the pre-pandemic levels or will we get some cooling off? I don't think you will. I don't think you'll ever see that. I don't think you will either. Right.

And I mean, you might. I mean, you know, let's say that the federal government pulls out their support, like we were talking to the mortgage bond market, for example, and you saw interest rates go up materially, which I don't think they will. But if interest rates did go up three, four hundred basis points, then I do think you'd see prices go down materially. Do you think mortgage rates go back to six percent? They're currently at like three and a half.

I don't think so. I think actually, again, I'm a little bit of a contrarian on the standpoint, which is I think they could go higher in the next couple of months. But I think over the next six to nine months, you may actually see – if they do a rate hike, I actually think that after their first or second rate hike, if they even get to a second one, they'll actually be cutting rates. That's my – Yeah, I don't think that they can sit there and – I saw a bank CEO who will go unnamed, J.P. Morgan, and he said that they're going to do seven rate hikes. yeah that's crazy i don't think they're going to do more than one and if they do i think that they'll you know have to lower it or cut it or something even if they do two or three to your point maybe they don't even do that many but even if they do they're going to feel the

pressure pretty quickly i think is is uh i think it's what you're basically saying same thing that i think yeah my grandfather and and you know one of the reasons i wanted to put this book together not to get back to this but uh i think it can be very helpful to people is he he used to call it he taught me that, you know, interest rates were the mother's milk for housing. And, you know, in many ways, interest rates are the mother's milk for the stock market. So I think the stock market could actually, not all stocks, but I think a lot of stocks could actually have a lot of problems in the coming months too. Yeah. Do you think that the average person is likely to buy home still? Or do you think that they're more likely to rent? Like, especially like the younger

generation? I think buy. You think buy? Okay, explain. Well, I just think people look at their different peers they look at their different friends and they say oh my god you know so and so bought a house and oh my god can you believe it's up you know twenty five thousand dollars or fifty thousand dollars and so i think as long as that continues people are going to want to buy homes yeah the other thing that i think is really interesting around the home market is uh interest rates are a big piece of this also like the whole move to remote work we've got a bunch of young people that we know that are now i don't know they're like semi-transitory right like they basically now we're like okay i'm gonna go somewhere for a month i'm gonna go somewhere

for two or three months then i'm gonna go somewhere else and what i wonder is like how much of this is uh going to change the landscape versus no that's just like tech workers right and everyone else is going to say hey look i still got to go to my job i still got to have a home uh and so i'm still willing to buy you know put down roots and not necessarily move from place to place uh yeah i don't think that's going away yeah you know is people still buy the homes well people still buying the homes and working remotely it's kind of like with the bitcoin thing right bitcoin's new technology to these areas zoom is a new technology right not really but you know what i mean yeah and people are wanting home offices i mean that's what we're seeing is

you know all across the united states every builder i i believe is seeing you know we want you know more room in you know the office for the home office and i don't i don't think that's going are they changing the way that they're building the homes sure yeah to build like an actual large office that could facilitate being there all day 100 yeah it it is interesting because i think historically people have always said like oh like it's a three-bedroom home right you could turn one of the bedrooms into an office or uh no now they're just strong-arming it and then they're they're offering it as part of the package to sell the house but the problem is they're not even having a hard time selling the house now because these damn things are selling

like hotcakes yeah you can't sell these things fast enough you can't put them up fast enough to sell them right now what did they used to call uh the home office um a den yeah right a den right which was like kind of an office kind of like a like a weird room or whatever rich person's fancy way of calling an office yeah it's an office just for rich people yeah a den right it's an office or the least favorite child but like to me i do think that uh there's an entire like strategic opportunity for home builders to say listen we're gonna build it so it's big we're gonna include all the av stuff right we're gonna have like a camera that can go ahead and it can be used for zoom we're gonna have it pre-installed all the stuff like you could easily see people be like man that's

cool. I want it. It's probably not that expensive to actually hook all that stuff up and kind of wire it to be a fully functioning home office. And how many people want to go back to the office when they can wake up, walk into the office, keep their basketball shorts on and put on a suit and tie, do their little meeting and then go back to the couch, right? You know, when I was on the board at Pulte Homes, we were one of the first builders to put Wi-Fi in homes and stuff like that. Now that's a little outdated and stuff like that. But I think that that's the big mission for these home builders now is not just how can you build affordable product which i talked about rentals but how can you also figure out a way where you can you know uh from a production

standpoint like you're saying either build studios or zoom rooms or these type of things in these new homes i think it's gonna be really interesting i mean to a degree that's already happening right with uh airbnb um i think what do they have they have like an internet connectivity test now now they do they used to not have it yeah of course but things change right and over the last year or two years with everyone doing this they're like hey we should be able to test how strong the internet is in this house we don't want to go somewhere and work from somewhere if the internet's not good so they do that next thing you know we we had uh we've had people on the show before that were they're building out basically rentals for short-term people to come

in and do work in and there's going to be offices there's going to be zooms there's going to be good internet there's going to be all this stuff and ultimately what we're going to see is like in my opinion people are still going to own their main residence right but they're going to continue to travel so like brian chesky's probably not the greatest example because he's the ceo of airbnb but he said he's going to keep rich. Yeah. And he's rich. Right. But he, he owns his house and he says now he's going to start traveling around to different places. But I think there's a lot of people who are doing that, that want kind of the, the, uh, the experience of going to different areas. They're still going to own a primary residence, but what it does is it increases

the demand for this stuff, but lowers the supply because all these people still own primary residences. So I think it's going to become much more of like a, an investment for people to rent out these homes or buy these homes and rent them out. Uh, but ultimately I don't know how much it's going to impact the the actual price of the homes john you're uh in your mid-20s what are all your friends doing are they trying to buy homes are they trying to rent are they moving on airbnbs what are they doing well i think right now like it's a transition period right so when you're 21 you're most likely you're not going to own a home you're going to rent a home right when you're out of college whatever you do when you work when you're trying to build

up that wealth you know rent right now it's actually cheaper to buy a home and pay your mortgage down than it is to rent in a lot of urban areas in the united states especially rural areas as well. I personally rent. I've been looking at homes as investment stuff. Oh, you trying to buy a house? I've been looking at homes just investment wise and everything like that. But obviously when you can pay down your mortgage and own equity in something, it's a lot better than just renting a home and paying someone else's mortgage off or giving them money as an investment. So yeah, I think right now a lot of my friends are starting to look at owning a home, but also

a lot of my friends live in major cities, right? So when you live in a city, it's hard. You also have to think about the incentive side of this, which in my opinion is from the business perspective, they want to open this up. They want to have employees that are not centrally located in one geographic area. I believe it was Coinbase and Airbnb were the two examples that their CEOs were tweeting out and saying, hey, basically we had X percent of people that were centrally located and now it's gone down dramatically and everyone's kind of – They used to hire a bunch of people in the Bay Area and now they don't hire that many. And the idea – I mean it's pretty obvious, right? You can lower the cost of employees. You can get better workers.

You open the talent pool. Well, there's a bunch of kind of advantages that this has for the company, but ultimately that filters down. So if you're an employee and you don't have to go into an office every day and you can work from wherever because you're remote, it opens up the door for you to be able to travel different places and do these things. So now that that's an option, I think it's naturally going to pick up in volume. And if the companies are incentivized to continue to hire people

outside of their geographic region, why wouldn't that continue? It's only going to accelerate. Yeah, I agree. We've seen over the pandemic last two years or so, a lot of young people got very excited all of a sudden about investing. And so whether it was with meme stocks, whether it was Bitcoin, whatever they all got interested and now what you're seeing is uh kind of maturation so a bunch of you know john you want to tell bill real quick uh what happened over the summer of uh 2020 when

i called you what stocks you had oh yeah i had basically a diverse portfolio of a bunch of like pandemic bets of things that i knew would rebound once the world opened back up right it's pretty smart yeah oh i mean tell me what you had though i had uh a few cruise lines airlines nope not Pulte Holmes I should have though I should have gotten on the phone with you but um I need some alpha from you we'll talk about that off camera joking joking but yeah I had a bunch of stuff that I knew went down because people were not out there in the world traveling and doing other things and I thought that it would rebound in the next few years were you buying zoom um no I should have bought zoom zoom went up a ton obviously because Nancy Pelosi was buying zoom I know she

she knows more than me about that should have followed her bets she uh she has good timing usually google calls google calls the the thing about the uh pandemic bets that was absolutely hysterical was when i called john uh he didn't mention one of the stocks that he had in there uh was um what was the electric car uh not tesla nicola he had nicola that wasn't a pandemic how about that guy getting nailed yeah so what i said to john was i said hey listen i said uh i say you I can't tell you what to do. You make your own investment decisions. You're a big boy.

You do your own research, whatever. But I said, but I think that you should probably look at Bitcoin and be kind of more concentrated rather than so diversified. I said, if I was you, I'd pick some Bitcoin and maybe pick one or two stocks. And so he called me back, I don't know, like a week later. He did a bunch of research. And he's like, all right, I got two assets now.

I'm like, what? And he was like, I got Bitcoin. I got Tesla. And I was like, all right. And so obviously he did very well. He did very well. Congratulations, John. I got Tesla before the stock split.

Funny story about it. Just want to be clear. Let them know where you came out. Yeah, go ahead, what, Bill? A funny story about Nikola. So I gave away three Teslas on Twitter. I don't know if you remember that, but going back two years ago or something. Yeah, this is when everybody thought giving away money on the internet was crazy.

Now it's like the hot thing to do. It's still kind of crazy to give away a Tesla. But I gave away three Teslas, and then I think he followed me or something like that. Or somebody tweeted at him, Trevor Bilton. and uh so he and i he was very nice we exchanged dms and he uh was gonna do the uh gonna give me a truck you know to give away for free and i was like oh this is sweet because i had to pay for the three teslas you know what i mean because i had some people who talked to some of the people at tesla and they're like hey you know if we do this for you then we got to do it for everybody so i

knew tesla wasn't going to sponsor any vehicles but nicola and then i was kind of like i was asking questions or something like and again i don't remember the exact but like you know okay like when can i get the truck or did it you know dude i don't even got one yet and so anyway so like a week later i'm like hey man um you know i'm gonna i'm gonna pass on this for right now but i'll catch you later it was just a gut feeling you know that was a good gut feeling yeah the stock went up to 65 and is now at under nine it's a pretty crazy just you know complete drop but i I would have taken the truck. I mean, you know, I spent a lot of money buying those Teslas

and just giving them away for somebody who retweeted me on Twitter. Well, here's the one thing that I will say that I think is very interesting about a lot of these companies is like that one may be an outlier. I think that I have a friend who I won't mention because I don't know if they'd be comfortable me mentioning him. But when the pandemic hit, he's in the lending business. And so he does a lot of lending.

And what he said to me was two things are about to happen. He's like fraud is going to go through the roof. And it's not because people are greedy. he says actually what's going to happen is people are going to get in a bad situation and we get a dire situation right and when they get in a dire situation let's take like a small business even a technology company whatever like ah let's fudge the numbers this one time we'll never do it again right or let's do this you know this one time we'll never do it again and he's like and then the problem is that they think that money's gonna you know the revenue is gonna come back in the

next quarter or whatever and next thing you know they just it gets worse and worse and worse and then all of a sudden you have this huge mess on your hands and obviously unethical uh illegal whatever uh so he's like one now fraud's gonna get way worse he's like and then two is there's a bunch of free money floating around so some people are gonna be in a dire situation and there's gonna be money being handed out to people they're gonna be doing all kinds of crazy stuff so i remember reading uh right around the same time a lot of electric vehicle stuff was happening those people had like uh what was it in brooklyn i think that like the SWAT team or the cops showed up and they literally went in the dude's house and he had just been like hoarding ppe stuff or there's another

article i read a guy was selling hand sanitizer on uh like amazon or something yeah remember those times that was crazy right and he was toilet paper he was buying the the hand sanitizer of like a dollar and he's selling it for like 50 like whatever the numbers were and basically amazon was like we're gonna crack down on people price gouging right and it was like look again you know you understand the economic incentives take over and obviously people do some crazy stuff but at the same time you're like man uh there's no hand sanitizer available right there's no toilet paper there's no whatever and so i always go back and forth on like where the free market should operate right and kind of like take over versus like ah okay now now it's too egregious

right now now you're actually taking advantage of people and i don't think that line um yeah but let's be honest if you're investing in nicola and i love you know the people who invest in nicola but you know you gotta know and i'm sure you knew you know that that was speculative and if you didn't then you're gonna learn the lesson completely that it's completely effing speculative of you know i i wish uh damn i don't want to i don't want to say the name of a stock and then be wrong on it uh but i'm pretty sure what stock let me hold on let me make sure uh yeah i'm pretty sure that this is real quantum scape is yeah it's a big stock it's a big company now yes market cap at eight billion okay it was much higher at one point it was 114 a share qtum ticker yeah it's now

uh under 19 so it's gone down a lot the reason why i remember this company is because uh i was on cnbc and uh they do a very good job the one thing i will give cnbc credit for always is uh they protect me when i'm on there in the sense of i don't know anything about quantum scape or other you know stocks and electric vehicles whatever i'm not here to talk about things that i don't have uh you know kind of unique insights on or whatever so i was on uh for an extended period of time on a segment and they were basically asking about bitcoin and cryptocurrencies and there's some traders on they start asking about public stocks so they didn't ever ask me about any of this stuff uh and out of nowhere here uh the host basically was like you know pop i get you probably don't

have a lot to add to that but like you got any uh thoughts i couldn't help myself because while they were talking i was like what the hell is quantum scape right i'm like googling around whatever i was like this is like a uh public shit coin right like it's like publicly traded shit coin right because you basically have like a company that's public that has no products they're talking about like 2027 revenue you know projections and it's trading whatever by the way maybe it becomes an amazing company maybe it doesn't but i was just like holy shit like whether we're talking about the public markets we're talking about private markets or we're talking about cryptocurrencies when the market gets frothy you see the same type of behavior across all the

asset exactly or said differently when interest rates are low and to your point you said well you know will it really matter if interest rates even go up a little bit yes because on the margin these shitty companies you know they're having to pay just even a little bit more which is a lot because many of them aren't earning any money and then what happens is the price of the stock goes down and then the guys need to get liquidity right and it's just a freaking it's just over and over it's just over and over again yeah that's why i think you know even in the like the crash of 2020 you know, good stocks went down materially because it was a liquidity issue, right? I mean, the whole market just melted down.

What do you think about the use of, so Milo came out, I believe, yesterday that said they're going to take Bitcoin almost as like a collateral for a mortgage on someone's home. What do you think about that? That's fine. I mean, that's fine. Again, I don't mean to beat the dead horse, but the third world countries, I think, is where it's going to be at. Now, what's going on with China? I mean, that would be the big, that would be the big kahuna. Why don't they just go buy, you know, $500 billion worth of Bitcoin?

Too much accountability, right? If China went and bought $500 billion worth of Bitcoin, that would be about 50% of the circulating supply right now. So I don't think they could actually execute it. But let's just say that was their intention, whether they said it or not. I think the price of Bitcoin would go to half a million bucks, right? Because if you had basically a whale come in and try to buy half the supply, right if you go back bitcoin went from ten thousand dollars in october of 2020

to by march or april it had peaked at like sixty four thousand sixty five thousand dollars right so basically six hundred percent increase in a matter of six months or less and what really was driving that was institutions started to come into the market and they basically were saying i want bitcoin so i'm willing to pay ten thousand dollars and a bunch of bitcoiners about seventy percent of the people who held it said i'm not selling it to you at ten thousand dollars so okay i'll pay ten thousand oh nope now eleven twelve fifteen twenty twenty

five thirty all and it kept going up and every time that they would increase their bid it would unlock a little bit of liquidity from people who are the long-term holders but we didn't get massive unlock until we got up over fifty thousand dollars and so that was only probably if i had to guess probably single digit billions went in to the asset right like like at that time and how leverages in this space i think that the leverage in the crypto uh market in general is still like relatively high uh there's been some flushes that have been pretty healthy uh right now specifically i think that it's still on the higher end what i think people don't appreciate though is there's a big difference between uh almost what i'll call um new leverage versus old leverage that's a good

way to think about it the new leverage is like if you can go on a derivatives platform put 50x leverage 100x leverage that's very different than going on a kind of a traditional derivatives exchange right and being able to put you know kind of light leverage or two or three maybe four or five times leverage and so what i think ended up happening uh at a number of times in bitcoin and crypto's life cycle is that uh fairly inexperienced people saw leverage and as like most things they said this looks amazing i can get rich quick so they started to use these kind of exotic high leverage products but they're not experts at it and so the experts they're using kind of much less leverage and they're going ahead and doing it but we've seen time and time again how do you

get a 50 flush in prices in a single day it's leverage getting wiped out just liquidations just right down through an order book and so i think that that's been a problem it does seem to be improving a little bit some of the platforms have taken away you know 100x leverage type stuff and they're like, okay, maybe we should only have 20, right? Which is still kind of crazy, but like at least- One and a half times leverage is a problem. Yeah, but like you can see, right? Anything greater than one.

Yeah, you can just see how this is becoming a bigger kind of focus of the industry. The other thing that I'll say is a lot of people forget that the Grayscale Bitcoin Trust, which now is trading at a 25% discount to NAV. Yeah, which is unbelievable. Pretty significant. They were probably one of the biggest drivers

of the price increase from Bitcoin from $10K to $60K initially because what was happening was a lot of these Wall Street guys were coming in with big dollars. They were giving money to Grayscale in the private placement. Grayscale was then taking that money and going and buying in the market. When they would buy in the market, though, they were buying up to 150% of all of Bitcoin being produced in a single day according to the mining reward.

So you have a buyer in the market that's buying more than what's being mined. Yeah, it's kind of like a share buyback almost, right? It just explodes. It artificially increases the prices. Yes. and then there's no redemption function so people couldn't get their money out of the fund the only way to get your you know kind of your money back would be to sell the shares to somebody else and so it was kind of this perfect storm for this massive increase in bitcoin price

the big question ends up being what happens now right like where where does the interest mstr's trade where do they trade at yeah the no i'm saying like where where will they trade at in the coming years like mstr it's all correlated to bitcoin right bitcoin's definitely a big piece of it now what are they what percent are they trading at over nav of their bitcoin assuming their base business is worthless so right now let's see in pretty much 2017 2018 all the way up till 2020 uh micro strategy was trading anywhere between like 100 to like 210 dollars right it was kind of like the range that it went over a number of years for four years or so obviously uh towards the q4 of 2020 when he first made the first purchase in august uh he went from august he

was trading about 125 all the way up by february of 2021 it was over a thousand dollars so just massive increase in in price now it's kind of come down and it's trading essentially yeah it's like 400 or something but do you know what it is in terms of 475 net asset value or no so the market cap is 490 like if gptc trades at 25 discount what is mstr trade out yeah and again i'm not trying to right quiz you here so i got the internet you can quiz me all you want so they own 124 391 bitcoin and at today's price that is the cost basis for them is about 3.75 billion according to bitcoin treasury so maybe slightly off but let's say this number is correct 3.75 billion dollars today's value is 5.2 billion which is a 1.4 x and there are 4.9 so it's

actually trading below the just the bitcoin on their uh what were the numbers again 4.9 and versus 5.1 or 5.2 billion in bitcoin right so like actually pretty healthy in the sense of it is because when it was getting up to like six seven eight hundred nine hundred i traded that thing a couple days you want to know something effing crazy so yeah it was nuts i i i don't know i i had this stupid idea to put in like i don't know like five million bucks in mstr okay i probably shouldn't be telling the story but but i i put like five million bucks in mstr and i i forget what it was a year or two ago or something like that and i shit you not so i i must have executed the trade at like 3 30 in the afternoon okay i woke up the next morning and the fucking thing

was up like 25 or something you sold all i sold the whole fucking thing i said i said holy crap i said i've never made a million dollars that quick in my life i mean even if you look at it in terms of like okay i went to sleep and then i woke up i mean i do because like you know with my with my general stocks i can make that much money overnight but you know to do that on some trade highly speculative and i was like okay like this is just stupid this is crazy get me out of this damn thing so when you think about your investing how much of it is like trading versus long-term holding of stocks versus the real estate very little is trading very little is trading got it so it's more like the fun stuff yeah other than you know helping people on twitter and and i run

my air conditioning companies that's where i've made most of my money you know i do i do enjoy trading you know once in a while how do you spend your day now well i wake up obviously and uh sorry for my haters i wake up by the way i've been getting like hate i don't even know what's wrong with these people but they've been upset that i'm giving away my money on twitter it's like i've never even heard of something like that yeah it's like what is going on they're mad they didn't win yeah probably mad they didn't win that's actually most of it actually there was a fairly prominent person won't say their name but uh you know fairly prominent person was blowing me up a couple weeks ago or something, you know, for, I don't even know what it was for. And I was like, wow, why is

this person hitting me so hard? Like, I don't even know this person. And I look in my DMs and, you know, there's probably six or seven or eight messages with them asking for money. And, you know, it's just amazing to me that like, you know, some people, like I'm all for people asking for money. And I say, you know, like call me a beggar, meaning me, Pulte. I'll be a beggar. I'm a beggar. sure i'm a beggar you know to try to help more people but it's one thing to say hey can i have money and then to go out in public and just start bashing you because you don't give them money you know what i mean so that's that's pretty demoralizing but but i do wake up in the morning and then i get on twitter and i check in with my companies and i find out you know is there anybody

in critical need or crisis that we can help and we're helping people all day every day not on my main feed but on either the super follower feed which everybody should go subscribe to or on the team giving feed or on the team polty feed i mean people are dying of cancer and you know these people these teammates of mine you know they're really the ones doing the work you know i put up yesterday like yesterday afternoon i just tweeted out to the super followers you know some lady to help her i think with like her electric bill or something she's dying of cancer and it was funded like instantly so that's the kind of stuff that i live for throughout the day you know yeah that's awesome i love that speaking of i think it's time yeah that's 12 i told everybody that we'd be doing

it at 12 so well let me get the number why don't you talk for a second let me figure out what the yeah talk for a second wait you have to figure out who it is i have to figure out who it is and i have to get their ad handle and then their cash sign and then all right and then you're good to go what's your usual audience i'm like who yeah how many people know how many people how many people on the old channel we'd get a couple thousand watching this is day one on the new channel so i don't know what the new channel yeah why'd you get a new channel well because youtube see they don't like when you're live streaming and putting clips on the same uh same channel because you're thinking about you're training a machine or you're training an algorithm so if you

say hey we're live and then in the afternoon you're like no now we're clips machine gets confused we got that we got youtube and uh the executive team over there youtube's lost in the sauce they don't know what how does mr beast then go live because he goes live and it hits his main channel he only goes live very very selectively yeah right and so basically it's a whale yeah well i need mr beast so you know we might have to bring jimmy on here and then we'll just go like giveaway for giveaway and then i'll just bow out real quick yeah keep doing it bring me and then i'll bow out yeah we'll just do the ultimate uh financial empowerment giveaway where we just all like you get a car you get a car you get a car and people like but i don't need it just got

Not over COVID. Did you see that? Yeah, he said he had it for like two weeks. Yeah, I talked to him a couple of days ago. He sounded fine. Yeah, he's okay. He's good. Yeah.

All right. He's young. He's young. Yeah. He's 23, something like that. Crazy. North Carolina guy. Yeah.

What do you think about Jake Paul making $45 million last year? Good for him. Unbelievable, huh? Tax-free too. You think he's on anything? No. I don't think so either. No.

I think that it's a great storyline for there to be controversy between Jake Paul, pretty much the most important slash uh most viral boxer in the world right now and uh the boxing purists hate it right because it because of uh his past and who he is uh but to have him versus the ufc him versus dana white yeah that's great how much do you think they'd make so everyone keeps talking about like jake paul versus conor mcgregor jake paul versus you know whoever how much do you think they'd make if it was jake paul versus dana white oh they'd make a lot of money they'd make a lot of money i actually be over in two seconds though i i literally have who'd win you don't think uh jake paul would win i think that jake would

most likely end up winning yeah i think the question the question would be would he actually end it in seconds or would or would they like play it out i don't know because like there's one thing is like you just walk and you just knock him out right like okay cool like that was pretty decisive that guy's an animal there's a whole nother thing around like no no like let's go a couple rounds right let's have some fun here give the people some uh who paid money but i i literally think that they would sell i don't know we what 20 million dollars 30 million dollars at least more than that right how about mr beast doing 150 million views on squid games on his version of it and netflix only did 100 million views is that unbelievable he went to netflix to do it originally

with them right and then i don't know i don't know did he i think the story was that he approached netflix me like hey i want to basically do like a remake similar version of what squid games was and they're like no we don't want to do it and he was like i'm doing it anyway i mean his was probably more entertaining yeah do you check your dms uh i i check my dms uh periodically yeah i check mine quite a bit but but the only thing that uh has become crazy is all the spam on twitter it's just out of control i mean i tweet and it's just like so that's been a little annoying i've as you know i tweeted at uh the ceo of twitter uh he did not get back to me um he also did not fix the problem because the spam is still there uh so i think they got you know if they get rid of the

spam one of the big questions is how much would the engagement metrics go down how many users would they lose i don't know right i mean the same argument could be made though like for you know if they got rid of republicans on the platform right yeah yeah well i i think from my standpoint at least right i don't think that they're like oh let's encourage spam because our engagement metrics go up right but i definitely do think that uh there's got to be a reason and it could just be product prioritization there's something going on so how would you get rid of the spam i think that it's pretty simple if somebody responds to your tweet with your profile picture nuke them let's start there yeah so how would you do that just have an algo that goes

through and scans for the photo yeah i mean that would be like the most simple version right but most of these people are you know and it's amazing these scammers they pick the dumbest photos of people that don't even look like they would be that they would even put that photo of them on see i got i've got uh the spam in my uh twitter is usually it's one of two things either one is they literally just have my photo right and they're just like spamming trying to yeah i got an idea on that i'll tell you after all right okay and then the second thing is uh if somebody has like here's a good one ready is uh i found at and they tagged something a 3d game and feels it would be better to invest in now before it pumps after the game launch telegram telegram link yeah and

Then a gazillion hashtags. If you can't figure out that that maybe shouldn't be in the replies to a tweet that has nothing to do with any of that stuff, then we might need to get some new people over there. Well, I have to say something, which is I'm very happy that you are encountering a lot of spam. I'm very happy that they are going after you because— You don't have spam? Let me just tell you, when I started doing this thing, I mean, I was like one of the big, you know, first giveaway people or whatever. I'm not saying that's brag.

I'm just saying, like, this was her Twitter philanthropy. Twitter philanthropy. Facts. Facts. Allegedly. So, but so anyway, so when I did that, like, I was like the one who's being impersonated. I don't know if you remember all this. This is going back like two or three years ago.

Yes, yes, yes. And so it's been very, I won't say enjoyable because I don't take enjoyment in you being spammed the shit out of. But it's better that we're direct, we're soliciting fire away from you. Yeah, diffusing it across people. so it's very nice yeah the uh people these days when people impersonate me they're just like oh that's fuck that's fake you know what i mean no they're trained yeah yeah and your people your team will get trained on you know maybe allegedly they will yeah i did i did meet one time i i gotta say i met one time a guy uh i was on a trip somewhere and he came up to me he goes

hey man he goes you know i read all the stuff i watch i i uh listen to podcasts but i gotta tell you lost $20,000. I basically thought I was talking to you and I sent Bitcoin to somebody that sucks. And I was like, man, that's really bad. He's like, but everything I've learned, I've made more than that. So like, you know, it was kind of like a wash. And I was like, you are a more positive person. But how do you do that though? Like, I don't understand that. What? Like, how do you lose $20,000 to a Twitter scammer? And maybe it's because I've been doing this now for two years and my teammates, my followers, my, uh, people that work with me, you know if somebody wants to send you money but you have to send them money first

yeah i mean don't do it don't do it yeah well here's what i always tell people i'll never ask you for bitcoin yeah so everyone knows i'll never ask anyone for bitcoin i get shit for it actually like we launched the bitcoin pizza thing and we're like oh there's no bitcoin option and i'm like okay so just so we're clear people who don't understand bitcoin want people to spend their bitcoin on pizza maybe actually we should think about this in terms of why don't you spend your depreciating fiat on the pizza and hold the bitcoin if you're like well then you know it doesn't make sense whatever fine there's bitcoin option you want to be an idiot and you want to give me your bitcoin uh for pizza knock yourself out but you shouldn't do that uh but oh uh also

i just don't ever ask for bitcoin if you don't ask then if somebody asks you for pretending to be me like very simple way to know that it's a scam right pretty simple all right you two got anything i got something for you bill what would make you what would make it worth it for you and would you ever move to puerto rico to save money on taxes or anything like that no no no no good question but no i mean how much money are we talking about john would you ever move depends on the amount of money if you could save let's say that you made so much money that you had two million dollars in taxes a year that you could say would you move no not for two million and why not If you were in a desperate situation, I think, and you won the lottery in the extremist example, $700 million.

You save half of that by moving to another country. You can't do it afterwards. Yeah, you can't do it afterwards. You can't do it. You just got to. Well, it's income for that year. I don't think I would do it for any amount of money. So have you been in Florida for any hurricanes?

No. Okay. So. I was here for one last year. Yeah, I grew up down here and it was not fun when you have hurricanes. And if you're in Puerto Rico, I mean, it's the opposite of fun. It's worse. So that would be my concern.

That's why I say that like that. You wouldn't, for no amount of money? No, because if it gets to the amount of money that I would consider doing it for, I wouldn't care about that amount of money because I have enough money. For $20 million a year? That means I'm making $40 million a year. So no. I love living here too much.

What if you made $10 billion a year? $10 billion a year? then i definitely wouldn't do it think about how much philanthropy you could do with the money wow you're just gonna give four billion dollars to sell yeah you are selfish you're gonna get four billion dollars to the government they're gonna sponsor some tweets i'm just saying if uh the next headline is joe pomp makes 10 billion a year and it's got nothing and gives it to at polti to give away and it's not necessarily even puerto rico like i'm sure what they're doing down there is great i'm sure they got nice will you move to el salvador no no no neither no would

you move to portugal no i like living in america would you move to texas yeah i mean it's in america i mean it depends where rico is too just so we're joe i know but it's not you know i feel like we're being you and me are being bombarded by foreign agents right now yeah like i don't i don't get this how much do you love your country so you would give up money for everything that that uh everything that's beneficial for living here you're close to family you're close to friends your quality of life is probably better uh bro if i had 10 billion dollars a year i'd move all y'all losers out there with me by the island i'd be like listen we own this shit now right that's i mean if you make that much money that's what you have to do you just have to move everyone

with you you're like yeah i got my family friends nice weather no taxes billion dollars you could buy whatever the hell you want here too yeah but it's just not the same okay i mean that's up to you i'll come visit i don't think that i would uh i don't think that i would move um but at the same time i do think that a lot of people are moving and that's why they have the incentive right just to get people to move there so it all just depends like also i think that people who go to like sell a business or something like that like it makes a ton of sense for people move from california or new york to florida or texas right to a no state income but that's only uh in most cases around 10 you know savings puerto rico is uh you know depending on if you're coming from a

high income bracket in those days, the 50%. Can I ask you a separate question? I would ask you afterwards anyway. Sure. Oh God, I'm so scared. No, don't worry. I won't. I'm not that bad.

But what do you think about these other social platforms? Are you going to be getting on any of those or are you going to stay on Twitter? You want to hear something funny? Because you're tweeting at the CEO of Twitter. Yeah, let them come for me. That's fine. We're all going to get canceled.

Every single person is going to get canceled at some point. And then eventually what's going to happen is that then the executives at the companies get canceled. Right. Which is, uh, I forget who said this, but basically the cancel culture ends when the people doing the canceling start to get canceled. Right. It's kind of like the bully on the playground. The bully is the bully to everyone until a bigger bully shows up. And then all of a sudden they don't like the bullying thing. Right. Same thing happens in cancel culture. But, uh,

the reason why I lit up when you asked me that question, I recently just got an email. I have no clue if this is real or not, but I said thumbs up to it, is I got an email from Truth Social. Somebody at the Truth Social platform emailed me and said, would you like us to reserve your username? and i said sure i don't know if i'm actually going to sign up but uh yeah make sure nobody else squats on that for me that'd be great and then they started to ask uh about um they started to ask about my uh cell phone number i then were you sure it was actually them i have no clue but i said yeah if you want to uh you want to go ahead and uh do it the email i'm not gonna say the email address but the email itself came from at tmtgcorp.com which sure maybe it's real maybe it's not who knows i don't care uh they should hold on to it for me and if they don't then i

won't join their platform yeah i won't join it anyways but like that we'll see whatever i do think it's hysterical regardless of what you think of the people behind it yeah but the whole idea of a platform that uh you basically say uh you don't send a post you don't send a tweet you send a truth like that's like trolling 101 right is that that's really gonna piss a lot of people off they go yeah i truthed it you think we'll ever have decentralized twitter no i think that uh it's very hard to take the centralized services and decentralize them so i don't think like the incumbents will decentralize i also think that there's probably a higher likelihood that we'll get um new types of services so if you think of twitter twitter was really something no one had

ever seen before it was micro blogging right like no one had that before um and so i think that uh we're likely to just get a new type of service the question is like what does that look like i'm not sure yet the other thing you guys want to know another thing that i haven't uh seen people doing it that i'm shocked by let's hear it i'm shocked that marketers haven't already decided that they should use the airdrop mechanism to spam the hell out of people they already are i've seen it before well are they what are they doing they're just like airdropping ads and wallets basically yeah like that see like that like i think that's a whole world where we're not ready for yet it's like if you know that a bunch of people hold uh an asset and you can basically just airdrop things

into their wallet well it was like you know uh if you go on social media like all these people will be like leave comment your uh your wallet address or whatever right or like leave it below and they'll go in and they'll airdrop some people something or pick some winners uh and i saw a brand do it the other day and they were messing with people and they were just airdropping them ads basically and it was like a joke like ha ha ha but it's like hey that's not really that funny like let's not do that but that's what it's going to turn into if you have the ability to just drop something in someone's wallet like that that's absolutely what they're gonna what do you mean airdropping like like an nft ad yeah they basically it's like a token that they that

they basically say hey on the blockchain go into every wallet that holds a crypto punk now we're gonna airdrop uh a um uh a new token and the new token is like buy this whatever on the token so it ends up being an ad i'm gonna use your bathroom real quick all right i had a long drive down so i had a lot of fluids all right all right of course uh before we go to wrap up the last thing i want to talk about but we waste how long do we have uh we'd like no 10 minutes oh okay i can wait oh you can wait all right i thought we were going till one or something no no no just 10 minutes uh eight sleep just had an announcement they just signed olympic gold medalist number one ranked snowboarder red gerard uh to an eight sleep contract and they're going to be powering red sleep

and recovery ahead of the x games and the winter olympics and then mateo tweeted if you want to unlock your full potential you need eight sleep energy pretty good pretty good i feel like sleep fan do you have eight sleep no you want to buy one we're gonna get yeah we'll get one for you yeah yeah we'll get one for you i feel like uh eight sleep is the uh the big game changer right is uh when you sleep on it not only do you get deeper sleep but you also get um uh better rest because of the deep sleep i do have to have you ever are you wear like any uh or a ring or something like yeah do you wear that yeah okay did you like it yeah it was cool it was cool uh apple watch or not yet no soon uh need to uh have you ever heard like a whoop or any of those no no all right so i

know joe has tested a lot of these john i think you've had a couple of them whatever uh i got a i got a problem for those that don't know i've got the whoop on and i got the apple watch i've always had the apple watch the whoop is a couple of days now i've been testing this thing these machines they say a lot of different things like one of like you slept eight hours another one you slept six hours and 15 minutes i'm not gonna say which one to say and which but i'm like i don't know what's going on here that's nuts or one will be like oh you burned a thousand calories i've uh i don't see you tried a lot of them i've won the apple watch the whoop uh even a garment at some point oh you did have the garment you thought you were out there in the woods like the rolex

of fitness bro you literally had a compass on your watch yeah compass on his wife like which way am i going northeast the funniest part is that the uh the garment was probably the most functional like if you're working out or something like that it was way better than the bro isn't like a two thousand dollar watch no it was like a couple hundred dollars uh it's not two thousand yeah there's a difference between two hundred dollars and two thousand dollars so where the measurements off or what so the measurements are uh were definitely i would say out of those three the apple watch was the worst uh for measurements the whoop was the best and the garmin was in between out of my experience the the whoop was the best one yeah because the the way i think about it

is like the whoop is is specifically designed only to do one thing and that one thing is measure all of your data right so it literally is focused on just that so it does it the best it's really accurate and you can track it basically like uh there's a bunch of studies that are done where people wear the heart rate monitors and they wear the whoop it's same technology and it's it tracks very similar garmin is uh mostly uh focused on doing that it has the watch component it tracks maps it does a few different things uh and then the apple watch is the least focused on doing that and uh it doesn't have the ability to do nearly what the other ones do i think that we should get the uh the chest things yeah it's just uh you ever seen these basically it's like a strap

that you put on and it holds like a measurement device here and uh that tells you all kinds of you know data whatever not because i'm necessarily optimizing something but i just think it'd be sponsored by anybody are you sponsored by eight sleep no i don't i don't uh deal with the personal fitness stuff joe over here you're an investor though in it right yeah eight sleep yeah yeah i literally uh if i forget to turn on the eight sleep or something uh it's like as soon as i wake up i'm like damn i forgot to turn on the eight sleep like you can just tell it's it's probably somebody asked me recently a founder that i invested in his company he messaged me and he said should i get the eight sleep or not and i said to him look man there's probably three

or four technology devices in my life that i've purchased that i'm like i cannot live without those cell phone a computer probably my apple watch right and the eight sleep but don't you condition yourself to not then be able to sleep in hotel rooms and stuff like that i don't travel this is 2022 we're done with that travel and some hotels have them i'm virtual baby we're in the metaverse what happens when you finally go on rogan nah i'll fly in fly out that's it i don't need to be on another note uh he he is not sponsored by them but i am so if you go to ain't sleep.com slash joe you can get a nice little discount i got you that's hilarious i use it hey you get it or don't i don't really care but how much are they do you do you think uh

do you think ranger 1500 bucks i think for the cover is that what they have a bunch of different options you can do like a i have a cover uh look at me right there looking fly as hell he's got it they got his face on the website that's why he's all excited uh eight sleep.com slash joe and uh they have a few different options you can do i have like the cover which essentially is like if you already have a mattress or you like your mattress you should put the cover over but they have a mattress too uh which is which is more money obviously but it's good i like it it's uh Uh, the, the one thing I think about the product is, and this is very serious considering I sleep on it all the time is the way I think about it is everyone always says you need

eight hours of sleep, eight hours of sleep. And that's literally what the name says, eight sleep. But their whole thing is that, uh, if you can be in bed for six hours, but get the same amount of REM sleep and deep sleep, then you're just, you're, you're getting just as high quality sleep as someone who slept eight, nine or 10 hours, uh, that got that same amount of REM or deep quality sleep. So the whole idea is that they are kind of compressing the amount of sleep that you need and making it higher quality sleep.

And I certainly feel like they're doing that. Switch things up a little bit. Bill, where are you looking opportunity-wise to make money in the coming years? It's a great question. You know, I made most of my money in the air conditioning company, so I'm going to be focused on that.

And then I'm invested in stocks. Bitcoin, I think if that goes down, you know, I'll be buying a lot. But yeah. Any other business ventures you got in the... No, giving away money is expensive though. So I need to start, you know, making more money. But, you know, I'm blessed, so I'm going to keep giving away.

You're doing a great job. Thank you. How much have you given away total so far? You know, I've given away at least like $1.08 million. But when you combine fees, expenses, legal fees, all that, I'm north of two. Really? Yeah. Yeah, that's pretty incredible.

But my published number is a million, but it's more than that. How do you, how do you think about like measuring how many people you've impacted or helped? I mean, definitely, definitely the numbers in the tens of thousands, you know, and then you get into the ripple effects and those types of things. But I mean, we've helped thousands and thousands of people directly, but for me, it's more about a movement. It's more about inspiring a movement. It's more about having other people help other people.

Because to me, Twitter philanthropy will never be successful until frankly, I can get it to exist without me there you go i was wondering the other day you thought i didn't have this look at this yeah but have you ever worn it yes yes because if you haven't then i was gonna give it to joe or john look at this yeah for those that don't know he's born that jacket's badass bill gave this to me the last time he came this is a great jacket can you be surprised you'd be what not yet no you'd be surprised how many people notice you once you like like oh i've heard that Yeah, right here, me and my friend, Twitter Philanthropy. I like the flag on the side of the sleeve.

Yeah. Reiterating our point that we're not moving. Did you guys see how I put it like over here so that it's like me and my friend? Yeah. Cool. Yeah, I don't think you should touch that because there's not a Puerto Rico flag on the side.

No, he's El Salvador. He's Puerto Rico. Oh, he's El Salvador. Sorry, sorry. Foreign Asians. Listen, I feel like I'm going to get stolen money from me on my way to the parking lot. Do you understand that Puerto Rico is part of America?

Yeah. Okay. That's all I wanted to hear from you. How do you like your Tesla? I like it. It's nice. Yeah. Would you buy it again or would you buy something different?

Yeah, it's a computer on wheels. Yeah, I agree. I feel like I'm in the future. I let a buddy drive my Tesla and he took down the safety score by like 30 or whatever. Oh, there's a safety score. You didn't know that? Yeah.

How does that work? I don't need to go check. It's like, it's, it's, you're actually probably pretty good. I mean, to be honest. Yeah. Just hit the safety score in the app. Yeah. And so I was like, you know, I was like at like 94, 95, which I guess is pretty good,

you know, to be, to get like the full self driving thing, you have to be like 98, 99. Ooh. So you can't even get it. But I gave it to a buddy and he got me down into like, I don't even know how, like into like the forties or fifties or sixties or something. How was he doing? And I've been climbing back, and I think I'm like in the 80s now, but I was so pissed.

Oh, my gosh. Where is it? In the app. In the app, yeah. When was the last time you downloaded the app? I got the app. If you show me it, I'll do it for you later. All right.

It does say software update. That shows you how much to pay attention. Also, for the record, the Tesla has a name on it. Yeah, what's yours? i don't want to say it uh because it would be embarrassing for some other people uh polina uh but but uh it says polina's tesla and i keep saying to her i say at what point did you steal the car and she's like well you know like nobody else has my name you know like it's like easy to find or whatever i was like there's not that many anthony's in the world

either when you're like drive it walk it uh i'll put oh man they're gonna get me in trouble uh she's not watching the show the best she just had a she just had a kid she doesn't focus on the show anymore the best way to describe plana got bigger priorities in the car is uh plana drove the car one time and i feel bad telling this story because she's not here to defend herself but uh she came back and she said oh the car is much wider than i thought and i was like what and she's like yeah i hit the curb so i was like all right so i went out to the car we were going somewhere and uh i noticed on the front left tire uh or on like the wheel yeah yeah uh i i noticed that there was like some yellow paint so i wanted to just like take it off whatever and i was like

okay and then i get in the car and she was getting the car too i was like yeah i was like uh in the front left tire she was oh uh no that's not the thing i was saying i was like what do you mean and she was like the one when i hit the curb that i told you about that was on the back right tire Oh, wow. And I was like, what happened here? She's like, oh, that was a different thing. I was like, all right, so we're going to have to go back to, maybe I'll do the drive-in and she can control the radio, the AC.

How is she doing? Good? I'm real chill with everything else in the car. Just maybe the driving. Tell her I said hi. I will. She's doing great. The two new uncles over here are fan favorites.

Funkles. Funkles. Except for you want to know what they refuse to do? No. Change diapers? That's inappropriate. Gotta get ready. It's your kid.

You know, when we went to lunch last time, I didn't know she was pregnant. She was pretty far along, though. And I, like, didn't want to bring it up. You know? And we were walking on the way back and she was, like, grabbing her stomach like a pregnant lady does.

I was like, oh, man, that's the worst thing I could do. No, the number one thing that's weird is, and Plinna kept bringing this up to me, which I don't know if this was just a one-off thing or if this is a normal thing but when she was pregnant the only people that would say anything that would be like congratulations or like random strangers like we get an elevator or whatever always dudes a woman there was not i don't can't remember a single time a woman ever said to her like dream oh congratulations yeah but like you know and i don't know how they're probably just

trying to be polite or you know whatever but i was like man i am deathly afraid if you said that and then the person wasn't pregnant like that is not politically uh acceptable so i don't know That's fine. All right. We're running out of time. You two got anything else? No. No.

Appreciate you for coming on. Pulte.org slash ebook. Ebook. Help yourself. The home that Bill Pulte built. They can download it right from there. Yeah. All right.

Complimentary. Pulte.org slash ebook. Very important is that this book is available, but it has a price tag of $0. Yeah. Completely for free. Anyone who wants to go get it can go there. Man, I don't know if we got anything else.

I feel like today was a good day. I appreciate everyone tuning in. Thanks, guys.