The Trillionaire Mindset - 52: Pain is Coming

Starting point is 00:00:00 Man, this is a problem. This is a big problem we've got here. Look at this shit. For the audio listener, our desks are just absolutely trashed. Not only trashed, it seems. The phone's almost threatening. I don't know if you saw this. They took my koala.

Starting point is 00:00:15 It looks like they tried to choke him. It's actually pretty disrespectful. That's unacceptable. That's unacceptable. We got, what is this? There's toilet paper all over. There's dukey on the toilet paper, which is gross. Pringles strewn about, a gatorade zero, half drunk,

Starting point is 00:00:31 and ductile. I've got chips. I've got, I don't know, I guess while I lead like chocolate. Oh, that's just a, that's just a Hershey bars in there. Yeah, you want it? I mean, it's a little early for chocolate, but I'll never say no to chocolate. What can I say?

Starting point is 00:00:46 At the phone, they're off the hooks. This is ridiculous. They tee-peed. They tee-peed my hold desk. Yeah, you know what? This has to stop. I don't know if TMG, Cody and Noel are playing favorites or anything, but we're the golden children.

Starting point is 00:01:02 We're the first babies. Number one. We're the first born. So one, we're the first born. So we should get some kind of priority. I mean, this is untenable. I'll tell you what, the Zack shitty nail clippers. Is that nail clippers? Yeah, gross.

Starting point is 00:01:13 I've never seen Wal Leeds place, but we've been over to Zack's and it looked basically just like this. Pigs, that's how they live. Yeah. And when we came in and he was all disheveled like, you guys were supposed to be here later than you said. It doesn't normally look like this. Yeah, it doesn't really. Yeah, sure when we came in and he was all the shoveled like You guys were supposed to be here later than you said doesn't normally look like this. Yeah, it doesn't really yeah sure dude I'll tell you what though. I uh Just give me a little bit of time. I got it. I got a lead You got a lead. Yeah, I don't think we'll be here much longer if you know what I'm saying

Starting point is 00:01:38 No, I don't know what you're saying. We're we're gonna die. We're gonna die. No, no finally I don't want to say too much. I don't wanna say too much because I don't know if it's gonna come through, but I, I've been talking to a guy. Is it a surprise for me? Yeah. Will it be a surprise for me? Oh yeah.

Starting point is 00:01:53 Do I need to address differently? Maybe. Ooh. Ooh. Okay, cool. I'll have more details for you. That's cool. Well, I'm thinking this is all not gonna matter in a little bit. Yeah, okay

Starting point is 00:02:07 That's appealing. Are we gonna like Destroy these things so that they don't get to use it. See it's kind of like a mutually assured thing. Yeah, I wasn't thinking about that That'd be fun. Okay, so that's not it then. Yeah, you know, we should sabotage them and leave like a whoopee cushions are one of those The airbag trick where oh they fly out of the seats. Yeah, where they fly in risk, severe injury. I like that. Something where they are at risk for hurting. Severe injury, yeah.

Starting point is 00:02:31 Severe injury. Yeah. That's always worth a laugh is severe injury. Ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha ha Oh, we're in the middle of the night. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. We'll share it with you. Hey folks. We got to give a sad. Hello to the new compliance guy.

Starting point is 00:03:16 Not sad. Well, yeah, you're right. Because he's he's new and he deserves the same. Right, right, right. We're going to be just stoked on Stephen Paznowski. What were people saying? Horny Steve Sluts. Yes, so the Steve Sluts shout out, hey, hey, Stephen.

Starting point is 00:03:33 Look, it's just a new era. What's the one of the poop quota? I gotta take a pet shit. And now different, different. I gotta take a pet shit. Be, don't be sad that it's over. Be glad that it happened. Yeah.

Starting point is 00:03:49 That was, that's insightful. That little fucker never wore pants. He's a bear. Yeah, but he wore a shirt. Oh, he was actually stuck in that shirt. He fell into, you know, bears are always poking around garbage. Yeah. Famously. Well, people will throw old garbage bags full of clothes.

Starting point is 00:04:08 Uh-huh. And he thought there was honey in it? Yeah, you'd have to ask Christopher Robin? Because isn't winning the pool like a stuffed animal that he talks to? No, it's a real bear. Oh, isn't it? I don't know. I think you're talking about Calvin and Hobbs.

Starting point is 00:04:22 Oh, yeah. Well, anyway, check. Also their children, it's just imagination. Yeah, yeah, it's also a cartoon. Yeah, at the end of the day. So guys, check the disclaimer in the description box. You wanna click see more or whatever the fuck. We're almost to the kiss.

Starting point is 00:04:40 We're getting close. We haven't even talked about the kiss. We should have said a time limit. Cause at a certain point, it's like, okay, great. You know, what if we hit it in 10 years, you know, we're not going to hit 50k subscribers in 10 years. Also, a lot of people out there have terrible listening. How about this? If we don't get to it by December 31, no kiss. Guys, you heard it. I mean, I'm giving you two months to get us to, if you're a listener,

Starting point is 00:05:04 all you got to do is go to youtube.com So I should really in your mindset and hit the subscribe button. That's all we're saying in December 31st And then you could just set it and forget it Also, let me know what you think of this shirt. It's not a white shirt What are you feeling self-conscious because people are calling you know, I do not give it shit. Yeah, right. I don't care I wear all white shirts whatever you literally care No, some might say that I don't care. I wear all white shirts whenever you literally care. No, some might say that I don't. Let me know about my shirt. It was a little cold this morning.

Starting point is 00:05:30 Yeah, it looks good on you. So I wore this yellow over shirt. Yeah, it looks good. Raid us on Spotify too. Oh, no, no, that's a big one. Okay. I've been, I said it last week at the end because I forgot. Give us a rating on Spotify. I don't know how to do it.

Starting point is 00:05:45 Five stars. If you feel like it, if you really think we deserve it, have you not rated us five stars? Yeah, I did. I was one of the first. Give me your phone. I'll rate a smile. No, I did it.

Starting point is 00:05:53 I don't worry about it. So you got to go to spot, we always say like comment, subscribe, which you should do on YouTube. But also not just Spotify. Go to all the audio platforms and, and, and rate us five stars. You know what I think it helps people find them. What? I think this is the worst intro we've ever had. know what I think? It helps people find them. What?

Starting point is 00:06:05 I think this is the worst intro we've ever had. No. I think this one's... This one's gonna go. It's all like... It's us keeping baby. It is us keeping it. It's us keeping it.

Starting point is 00:06:14 It's us keeping it. You gotta keep your house in real. You know what this is? This is our one year. Technically our anniversary would be next week. No. 52 weeks. Yeah, but it's like you do the year, right? Yeah, that's the year.

Starting point is 00:06:28 52 weeks is a exact because you know when our first episode came out, I remember the day. You don't even remember I remember I do. I do. What is it? Because it's September 22nd. No. September 23rd. It didn't happen in September. It came out in October. Oh, we recorded it that day and then it no, it didn't you don't remember shit. Okay, why don't you educate me? We recorded the first one on my birthday. So that so it already came and went. But not the recording the day came out. Man, I'm getting all kinds of confused here. I know. This is triggering. You're the bad husband. I am the bad husband. This is triggering you're the bad husband. I am the bad husband Anywho What the fuck is this? Oh, yeah the first episode came out on

Starting point is 00:07:10 What the hell where the hell is the date click the episode one like don't you have to click right? Oh October 4th October 4th 20th fourth that's our anniversary. I Already made dinner plans for us, baby. Where are we going? Surprise I've never heard of surprise. Nice. Where are we going? Surprise. I've never heard of surprise. Did I have good dessert at surprise? Uh huh. Uh huh.

Starting point is 00:07:31 So, hey, well, this is gonna be a hell of a pivot. I wanna give a shout, special shout out to Omed in Iran. He's a listener in Iran and shit's getting kind of bad over there. Boy, that's an eloquent way of saying. That's the understatement of the century. Yeah. They are...

Starting point is 00:07:51 That's getting kind of bad. There was a young woman, if you didn't know, there was a young woman who got arrested by the morality police, which is a thing that they have. And she was killed in custody for not properly covering herself. And the country is the people that are reacting appropriately and really protesting. And yeah, and he was DMing me saying that, yeah, it's getting a little crazy over there to say the least, but that

Starting point is 00:08:27 that's a good thing because people are standing up to the authoritarian government over there. So anyway, I won't say anymore because I truly don't know anything, but just wanted to give Ome to special shout out out there and we're thinking about you. That's freaking trillion in our minds. That's a loop too, Ome. Yeah. Ha!

Starting point is 00:08:44 Mooler! Are you good? Yeah, I'm good. What's with the jacket, by the way? your mind set salute to him. Yeah. Huh. Moller. Are you good? Yeah, I'm good. What's with the jacket, by the way? I think the fucking wall lead left it. Oh, okay. Yeah. Well, the sets are a mess.

Starting point is 00:08:57 Also, I gotta say, it's, they're disgusting. I don't know if you noticed, but all the pages in this fucking thing are sticky. I don't, I don't watch their show, not because I don't like sports, because I don't like them, but I don't know what they do. Do they jerk off to surprise me? Probably. I mean, Roberto Clemente in this, uh, in this thing, he's a handsome guy. Damn, look at that guy. All the pages are sticky.

Starting point is 00:09:17 Yeah. So, well, folks, we got a lot to cover this week. A lot of shit happened last week that poured over into this. In particular, here comes a burp. Here comes, but I'm not gonna do it. I know I was gonna, I didn't even let it happen. It was a silent one. FedEx, federal express, you know, that fucking company

Starting point is 00:09:37 that ships things. That you, everyone goes, have you ever seen the arrow? In the logo? Have you ever seen the arrow in the logo? Yeah, I took an advertising class. Did you know? Did you know that companies use red to make you hungry? Babe, have you ever seen the arrow in FedEx?

Starting point is 00:09:52 Yeah, and for those of you who don't know what I'm talking about, what we're talking about, fucking Google it. We're just looking at the FedEx track. Let me see it. Also, hey, while I'm on it. Yeah, there's a hidden arrow in between the E and the X and Fed X. There you have it, folks.

Starting point is 00:10:12 A lot of people who have been using me as their personal Yelp, and I don't know why. Been messaging me being like, hey, do you have any recommendations for? Maybe it's because you use everyone else as your personal craigslist. That's not true at all. Hi, everybody. I have a card to sell.

Starting point is 00:10:30 Serious DMs only, please. It's not hurting anybody to read that. It hurts me when I get to. It hurts me. I got to listen to fucking ads every. I got to listen to like, I didn't sell the car. The classified ad of a newspaper. Yeah. Okay. Yeah, okay. Anyway, FedEx had terrible earnings. The stock dropped, I think the most it's ever dropped

Starting point is 00:10:51 in its history, or at least in the last like 15 years. And the CEO said on Thursday, last Thursday, that the world is headed for a recession. And he was on Jim Kramer. Man, we haven't done a Kramer wrestling bit in a while, but do you have your sunglasses? No, I don't. Anyway, he was joking with Jim Kramer. He said that these quote, these numbers, the CEO, the CEO FedEx, because he was being interviewed on the show. He said that these numbers don't pretend very well. And all of their results fell short of estimates

Starting point is 00:11:25 like big time. He also said in the, I think it was the conference call. Oh yeah. You can glean a lot from a company conference call, but there's transcripts online. So if you ever want to take a gander at one, just Google the stock and quarterly conference call transcript.

Starting point is 00:11:42 But he said global volumes declined as macroeconomic trends significantly worsened later in the quarter, both internationally and in the US. We've just started our second quarter and the weekly numbers are not looking good. So we just assume that the economic conditions are not really good. So Hey, if shit's going bad for if people aren't sending packages therefore or if they are but like reduced amounts Doesn't portend very well for the economy Is that what's happening because it's because I think people are so from CMBC they're saying But some analysts note the relative stability of rivals UPS and DHL

Starting point is 00:12:21 Yeah, said FedEx's own failure to adapt, also contributed to its performance. That's what I was thinking. And it reminds me of, we talked about it on the show. Remember when the Restoration Hardware CEO, like wrote this, maybe it was an interview, but he was just like, shit, pulling, he was like, it's bad. Yeah. The whole economy is flipping upside down. But then some people were like, I don't know, it seems like he wasn't really able to navigate

Starting point is 00:12:51 COVID reopening and all of that stuff. Yeah, and maybe the market for a thousand dollar armchair Because I mean it's kind of slowing down. Right, and that was you know months ago at this point and it's With with all the news, I think some CEOs are just like When they can't navigate their own market. They're like, oh, no, no, the economy is flipping out. It's the macro picture. It couldn't be. Yeah, it doesn't FedEx aren't they known as like the worst? I don't know. I used DHL and I don't like it.

Starting point is 00:13:17 And UPS and FedEx have seemed fine. UPS. I feel like DHL is more global. Yes. Like I've ordered things from France and it comes DHL, but maybe that's the problem. It's just coming from France. Every time UPS delivers shit, they send it to the apartment building across the street

Starting point is 00:13:34 for me. So every time now when it says delivered, I'm like, oh, my neighbor got it. So now I got to walk over there and grab it from my neighbor's place. It's annoying, it's fun. So DHL, I ordered this and it was kind of expensive. Mm-hmm.

Starting point is 00:13:47 Of course it's, yeah, it's so, it's all expensive. But I really needed it to come and it was, So you just went fat. And it said, no, I got, yeah. I didn't even make the cum joke. But it was there. It was implied, yeah. Right.

Starting point is 00:14:01 And it said, I would have to be there, but I could, I could sign and wave it. I could say you could there but I could I could sign and wave it I could say you could and I was like everyone just throws it over the fence just throw over so I said you know I signed it I said just throw it over the fence and then you actually picked me up and I got a text that it had been delivered and I was like great and I got home nothing I was like gotta be kidding me I was walking around my but it was nighttime I was walking around my neighborhood looking for it and then the next morning I saw it on my neighbor's thing,

Starting point is 00:14:28 right over the fence and there was no, there's no doorbell, there was no nothing. And so I finally had to just climb this 10 foot fence and I was like, man, these people are gonna like shoot me or so I don't know them at all. Jesus, H, but I wanted it. Yeah. It scratches all of my stomach.

Starting point is 00:14:43 I wanted that package. Got it. What was in it? What did you order? Just like these were so desperate for they were just expensive they were these expensive clothes You looked at my clothes like it wasn't these that okay I Need suit stuff for a wedding. Oh, yeah, I need suit stuff for a wedding too. yeah, I need suit stuff for a wedding too. Fuck, I don't want to do that. Meanwhile, the S&P, I'm sure you guys are hearing all about it, but it's now in its 20th

Starting point is 00:15:15 bear market of the last 140 years. And so I saw this interesting stat that the average peak to trough. So from top to bottom, the average decline is 37.3% and the average duration is 290 days. And this guy from Bofa, B of it, I love it. We don't talk about enough how Bank of America's abbreviation is Bofa. No, you do every time. I do every time.

Starting point is 00:15:42 Every time. So this dipshit, he's not a dips every time I do every time every time. So this this dip shit. He's not a dipshit. I'm just calling him that from Bofa was saying that, uh, wait, what is this? He cited FedEx's guy down and suggesting an EPS recession shock is the catalyst for new new lows. So basically bad earnings is going to be the catalyst for new lows as we start getting these quarters that haven't yet really hit that. And they took a huge hit, right? They took a massive hit, yeah. But again, it's like, is this really a bellweather for the stock market

Starting point is 00:16:17 or the economy or is it just- Or is FedEx just doing poorly? Yeah, or is FedEx just kind of like sucking ass? Right. I think it might be a little bit of both. Hey, look, if I was CEO right now, and my company was doing poorly, you know I'm doing the same thing.

Starting point is 00:16:29 You know you're blaming only economy. It's goddamn economy. Have you see, who could navigate this? But it's also, Sir, UPS and DHL are doing, but those guys are crazy. They're doing that. That's, that's fun.

Starting point is 00:16:40 But there was something that I read about how all of these shipping companies had to really scramble to hire more people and open new facilities. I mean, even Amazon, they opened what, like, over 10 new warehouses in anticipation of all of that increased sudden demand, but then now they've got to really pull it back. Like Amazon then had to cancel all these leases on these warehouses or the ones that they built, they now are like trying to sell. So I think you're seeing a lot of that too,

Starting point is 00:17:12 is just like the kind of, what it's not a bull whip, but it's yeah, reducing their, their closing, Amazon's closing more than 20 logistics centers while cancelling or delaying plans for nearly 50 more So yeah, you got to wonder how much of it is actually the economy slowing down and how much of it is Miss back to normal getting back to normal and like

Starting point is 00:17:36 Just I don't know if I want to call it shitty management because I really have no idea how well FedEx is run, but... You know what they need? Me? At the helm? I'll take that fucking... You could be a CEO for a company, for like two years, and making up money to just live around.

Starting point is 00:17:53 And then when you leave, they're like, here's 20 million. Yeah, thank you, thank you for your service, sir. Here's 20 million dollars. Well done. Excellent. Cool. No, they need another cast away.

Starting point is 00:18:03 Oh yeah, they need to crash a plane that movie was like it was a one long Yeah, cuz he ended up delivering the package That was the whole yeah unfinished business. Yeah a FedEx man never Just absolutely insane that was a really cool plane crash sequence. I'm sure you love I loved it. I was like this is so accurate It's tight, but did you see the plane crash footage where they crashed one of those, I forget which plane it was?

Starting point is 00:18:29 What, why are you looking at that? Of course I've seen it. Which one am I talking about? The one where they crashed it in the desert. Yeah. Yeah, of course I've seen it too. How did you know? Because there's like two.

Starting point is 00:18:37 They did that one and then they did another one. And I've seen it all. But did you see where the worst place to sit was? Either the tail or the nose. It was the nose. Yeah, you see where the worst place to sit was? Either the tail or the nose. It was the nose. Oh, yeah, that's where the pilot sits. Yeah, and that's where you'll be on our way back from Japan. I'll be in the back, which you were laughing at me. But if we go down, are we going to be on the same flight?

Starting point is 00:18:56 Yeah. No way. Yeah. And you're in first class. Yeah, I am in for a while. I'm going to walk back to Steerage sipping champagne and go man it smells like farts back here and then walk all the way back to the front of the plane where it doesn't smell like beauty. But I can't wait. Oh, it's going to be so nice. Thank you, American

Starting point is 00:19:15 Express points. But did you know that FedEx was close to bankruptcy one time in the CEO in like the 80s or something and he took their last like 30 grand or something and cash and just said, fuck it. I'm going to gamble it and went to Vegas and gambled and won and saved the company from bankruptcy. Where to go. Yeah. The founder of FedEx saved the company from bankruptcy with his blackjack winnings. What was it? Oh yeah, and the company started, he was majoring in economics at Yale in 1962

Starting point is 00:19:48 and he wrote a paper about the automation of society and the transportation of goods. And he thought it would be more efficient to carry small, essential items by plane. It basically started as like an economics paper and that was how FedEx was born. Wow, oh, he founded the company with $4 million in inheritance and $80 million in loans

Starting point is 00:20:09 and equity investments. Wow, that's an early. But so yeah, wait, when FedEx. Oh, $5,000? Yeah, when FedEx is funds dwindled down to just $5,000, he realized he didn't have enough to fuel the planes. The company had already gone to many extremes from pilots using their personal credit cards to fuel planes to uncashed paychecks. Wow So he went to Vegas to play blackjack. Oh my god. He turned the remaining 5,000 into 27,000 just enough for the company to stay in operation for another week

Starting point is 00:20:40 Wow, that's that's crazy. So there you have it folks All you got gotta do is gamble. Take a gamble, go to Vegas. I wanna talk about this story, my friend told me, but he told me not to tell anyone, and I feel like this is a lot of people. Just change the change. I know, I'll change enough to,

Starting point is 00:20:56 when the show started, he was like, you should talk to my friend. He's like a new crypto founder, and he's like, this kind of, I know, and I was like, I don't think it's gonna be good for the show, whatever. And he was like, and it was very quickly. He's like, no, like I'm bought in and it's not bad,

Starting point is 00:21:10 whatever. And then they guarantee 20%. Well, a month later, he was like, you know, I took it all out. Like I was losing tons of money. And then recently, he was like, remember that guy? I was telling you about it. And I was like, yeah, what, does he like, killing it or whatever? And he was like, no that guy I was telling you about and I was like, yeah, what is he like

Starting point is 00:21:27 Killing it or whatever. He was like, no, he actually had to He was forced out of the company. He I guess with this whole crash They were losing a bunch of money so he took I'm giving all the details We got it. What the fuck we got to have this guy in the show that sounds no interesting I think he tried to take a bunch of the money and gamble it and then Replace it. Oh, that sounds like a great story. I doubt he wants to talk. I mean come on I was sounds pretty cool to me. Oh God, sorry, I keep burping because I had this coffee because this morning I made my

Starting point is 00:22:03 much of this why why I'm almost done with the matcha. And I look inside and there's a big clump of the shit. And I'm like, dang, you little fucker, you don't even get whisked up in the whisk. So I've just been drinking milk water. Get the fuck outta here. They didn't even drink the matches. I didn't get my caffeine, so I'm having this.

Starting point is 00:22:19 And the new bidet that I got, oh boy, don't even get me started. We're saving that for after. Don't get him started. If you want to get your, no one'm getting you started, you're starting. You, you, you brought it up. I don't think I did. You did. You brought it up. Any who anyway, if you want to hear about the bidet, I'm going to tell you about it in after hours, because it's a whole ordeal that's very boring. I'm going to start telling them what I eat for breakfast every time. What are you eating for breakfast?

Starting point is 00:22:45 Canna beans? Yeah, just crack open a can of beans. Crack open a can of beans? Yeah, for me it's avocado toast and a banana. Nice. In the description. The other big news, two days ago for you guys, yesterday for us, we had the fed meeting and okay, so there's a bunch of shit here.

Starting point is 00:23:03 Okay, so there's a bunch of shit here. Okay, so there's a bunch of shit here. Well, because the market dropped hard and it was kind of a... Which is surprising because you would think this would have been priced in considering everyone saw it coming. Yeah, we literally said last week he's gonna raise it like 75% or 100 points. And that's exactly what they did. They raised it 75 basis points, 0.75%. But it was Powell's comments that really spooked the market.

Starting point is 00:23:29 Oh, where he was like, pain is coming. I don't. He started crying. He said, fuck us off the landing. Yeah. He's like, we're going to run into the ground. Yeah, we're going to nose dive. We're going to come a cosy this and just when you think it can't get any worse, I'm going to keep going. Yeah. And they were yeah and they were like wait what yeah he said hug your

Starting point is 00:23:49 shoulder i think it was someone from maybe bank of america both uh or maybe it was well as far go well fun they were literally like they're cheering them on like do a hundred fifty points next time really mm-hmm that's weird that's fucked up but he said that they're gonna keep going and they may slow the pace of their interest rate raises while they assess how their adjustments affect the economy. But so he's basically saying, it's a lagging kind of thing. So they adjust the rates and it takes a while for the economy for the effects to be filled.

Starting point is 00:24:24 And they're gonna keep raising it. And as the months progress, they're gonna assess like, okay, how is this affecting the economy? If it's too much, we're gonna slow the pace, but we're still gonna be pressing it. Why would that not be the plant, like, why is that news? Because he needs to really, really over communicate with the market.

Starting point is 00:24:45 But also, so there's a Q&A and they asked Powell how to slow inflation and he said, we have to get supply and demand back into alignment. And the way that we do that is by slowing the economy. We want to act aggressively now and get this job done and keep at it until it's done. We need sub-trend growth and softening the labor market.

Starting point is 00:25:05 He says job openings need to decline significantly, but he said that can happen without unemployment going up significantly, which is an interesting kind of thing. Basically getting companies to stop, yo, stop with the job opening. I can't wait till no one has a job and everything is just still expensive. Yeah, and power goes, well, my job, I guess that didn't work.

Starting point is 00:25:26 He's just good luck, everybody. He's just raised it again. Because he's worth $100 million. Damn. Yeah. Yeah. So, but crucially, he said that there are three things in this economy that could mean we could withstand the tightening without a recession.

Starting point is 00:25:45 So these three things may mean that we could have the soft landing after all. Number one, high level of job openings. The high level of job openings currently may mean that some of those job openings go away without actual jobs having to be cut, right? So these guys are just pissed about a tight labor market? Yeah. jobs having to be cut, right? So these guys are just pissed about a tight labor market. Yeah. So we're tired of these employees having a god damn say.

Starting point is 00:26:10 Well, it's not that. It's, I mean, that kind of makes sense to me that, yeah, you could say a company is looking for a hundred positions to fill. Okay. A company is looking for a hundred positions to fill. You could, you could theoretically reduce that without firing anybody. No, no, I understand. But they're talking about they don't want to

Starting point is 00:26:31 tight labor market anymore. Right. Number two, inflation expectations remain well anchored, so it's not like it's, there's no surprises anymore, right? It's kind of we kind of get where inflation's at. It's not like it was a year ago where all of a sudden we're having these surprises to the upside.

Starting point is 00:26:50 I mean, you can still have surprises to the upside, but they're gonna be significantly diminished comparatively. It's not like suddenly we're gonna jump to 10%. And number three, part of inflation right now is caused by supply shocks, and there are early signs that that is abating. Yeah, we'll see. Let's see what these rail workers decide on. Is there any update with that? Nothing. It's kind of funny how like it just seems like it's not in the headlines anymore.

Starting point is 00:27:16 Right. Depending on where you look. Well, the White House did their celebration. They're like, we did it. We have heard it. Now we'll see. Yeah, we didn't. Well, they technically did, right, because, we have heard it. Now we'll see. Yeah, we didn't. Well, they technically did, right? Because the deadline was last Friday. And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now,

Starting point is 00:27:28 And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now,

Starting point is 00:27:34 And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now, And now,ends that, you know, rents will drop if the house, I guess that would, if the housing market kind of drops, that would imply that rents would come down, which is a huge part of inflation.

Starting point is 00:27:53 I don't know if it necessarily would though, because more people be renting. Oh, yeah, losing their homes. Not losing them. If you were gonna plan on buying a home and now you're like, well, the rates are, you know, I don't wanna get locked into this shitty rate. Right. You could always refine it.

Starting point is 00:28:07 Right? Sure. If rates ever come down again, I feel like the housing market, even if everybody knows that it's going to come down, it's not gonna. Because everybody with a little bit of money is going to be waiting to pounce and buy, you know, especially hedge funds and whatnot. But I mean, it happened once, it could happen again. Are you talking about 2008? Yeah, I mean, it's a totally different thing, but you would think that the same thing would apply where, hey, a bunch of people are going to be waiting,

Starting point is 00:28:36 but also the amount of wealth that was created since then, to me means that, you know, there's a lot more money out there that's ready willing and able to swoop up shit on the cheap. Hmm, not me though. I feel like you're good by a house. Yeah, maybe.

Starting point is 00:28:59 It still scares the shit out of me. I mean, even just this toilet fiasco, I was googling toilets and I was just like, oh this is a whole other nightmare that I never even considered. I'm looking at room. I'm looking at room. Sounds like a nightmare. Oh yeah. I'm looking at reviews for toilets for hours. And it's worth it because it's one of the only ways to actually build real wealth and generational wealth. That's...

Starting point is 00:29:21 But yeah. Then it's like, and generational wealth. That's... But yeah. Then it's like, damn, renting sucks. Landlord's fucking suck. But like, when there's something wrong, just like sending a text like,

Starting point is 00:29:31 yo, take care of this fucking... Take care of this bitch. I mean, you're lucky if you have a landlord who will actually do it. But God, if it was mine, I'd be like, I gotta fix a roof. Yeah. It's wild that housing has become a way to build wealth

Starting point is 00:29:51 instead of a way to just to have shelter, you know? That was a terrible way of phrasing it, but you know what I mean, right? You get what I mean. Yeah. That's, I mean, so much wealth was wiped out. Like people for the first time who were getting cheap homes were kicked out of those homes.

Starting point is 00:30:09 Yeah. The economic bidet sprayed into the butthole of the economy, clearing out all the feces of people. I'm not calling people. Yeah, that's a bad one. Yeah. That's a, huh. Wait, what did I say?

Starting point is 00:30:24 That was really bad. Is it, what did I say? That was really bad. Is it, what did I say though? You basically called the people who got duped into bad mortgages. Shit, like actual people. Well, no, I mean, because they're good poop, poop is good. And then natural. I guess the water would be like the Obama administration. I don't know if I said that.

Starting point is 00:30:43 Not bailing them out. I don't think I said any of that. I don't think I said any of that. Bankers. Yeah, but sometimes your true colors come out. I think it's just because there's toilet paper on the desk and I've got this bidet on my mind and I'm just waiting for that person in the comments to be like, wow, that was really shitty of you to compare.

Starting point is 00:31:03 You have had some questionable comments on this isn't a serious take it was me just making a stupid anyway. You know part this is part of the issue with with our schedule is like we got a record so early that my brain isn't fully functioning yet. Is yours? Yeah. Really? You see, I don't think we should do this on air, but. What? What? Just, oh no. We record it 9 AM. Yeah. It's not that early. It's pretty early. Number two, just like get a good night's sleep. The day before it's that's fair. It's once a week. Yeah, I went to bed at like one in the morning.

Starting point is 00:31:47 If it was me, who also has to do the show, I just don't do anything on Wednesdays. Yeah. And then every other night of the week, I go, I don't have to record tomorrow. Yeah. Or sometimes I do. Sometimes we have like an early record for something else.

Starting point is 00:31:59 You know what I mean? That would be responsible. It's like a job. Yeah, yeah, I guess. See, that's smart of you. So you guys, let's go to... Yeah, I want to talk tactical here for a little bit of trading stuff, because I've referenced that trend line, you remember?

Starting point is 00:32:16 No. Coming from the... Yeah. No. I was in the dress and I was talking about it. The trend line from the low... I'm drunk. I'll have a glass of champagne. Yeah, that trend line that I referenced from the bottom of June up until recently broke

Starting point is 00:32:32 Not good broke to the downside and has not even it attempted to kind of recapture it totally fucking lost it and So here's a little tip if you want to get an idea of where things might be headed directionally, keep your eye on the two-year and the ten-year treasury bond yields. The more they go up, the more that's not good. Because that is, there used to be this thing, this adage, I don't know if you'd call it an adage, but it was we've talked about the two year and ten year No, but there's this other thing called Tina Stance where there is no alternative There's no such things a free lunch tin stopful who?

Starting point is 00:33:14 Tin stopful tin stopful you've heard there's no such thing as a free lunch sure Who is is that quote attributed to a man named tin stopful? Oh That's the acronym. There's no such thing as a free lunch. Got it. Tin stuff. Okay. So, yeah, the Tina thing used to be that's why stocks are so popular for so long because interest rates were so low, bonds didn't yield enough to make it worthwhile, but now we're getting a kind of reverse tina where there is an alternative to equities. You're getting these treasury yields. Like, hey, if you can get 3.5% or whatever it is currently,

Starting point is 00:34:00 on a two year bond, you're naturally gonna go toward that while stocks are starting to look less and less appealing, right? We're drinking some guy with six greens like we're coming up on our reverse Tina. Holy shit. Call Bob. Bob, it's our worst nightmare. Yeah. No, you remember the Tina?

Starting point is 00:34:17 Well, get a load of this. It's a reverse. It's a reverse. Oh my god. Oh my god. Oh my god. Oh my god. Oh my god. Oh, my God. Oh, my God. Call my lawyer. Like an independent stay. I've got to call my lawyer. No, no. What does he say? I got to call my mother. See, you got to keep up, dude. Yeah, I know. How do I not remember that quote from 1996's Independence Day? It's a famous quote, the guy with the deep voice I got oh my god I got to call

Starting point is 00:34:45 my mother someone in the in the comments will know. I remember when he's like given the speech and he's like now let's go fuck no nailings up. Yeah yeah he does and Jeff Goldblum's go Jeff Goldblum goes maybe your scientists never thought they said we could but never thought task should I? They said we could but never thought task. Should I? What That's your ass you park that's your ass at park Yeah, he's yeah life finds a way life finds a way or or when he was like I'm gonna fuck that dinosaur Yeah, he certainly didn't want to fuck that dinosaur. I mean, that charisera tops was looking thicker than a milkshake laying on his side after

Starting point is 00:35:28 having the bad do do. Thick with three C's. Yeah. Oh, yeah. Hmm. That charisera thussy. Yeah, dude. Oh, man. Oh, God, I wish they weren't extinct. So if you want to see, if you want to, you can play along at home. Play along. The 10-year treasury yield, they each have a symbol. And I, I, shit, I mean, it depends on what chart software you use, but you can just Google like two-year treasury yield symbol, and it'll come up. I think the 10-year is TNX.

Starting point is 00:36:03 And yeah, so the higher the yield, the more attractive it is as an alternative to stocks. Also, from a technical standpoint, I know that this might not make a lot of sense to a lot of you, but we are below the five, the eight, and the 21-day exponential moving averages. Those are like the short-term, basically below that, not good.

Starting point is 00:36:24 You wanna get above that, you want those to be curling upward and they are not. They are all pointed down and we are below them. That says momentum is going to the downside, not good folks. And also interesting stat from Bofa. Institutions and hedge funds were the ones selling last week and retailers were the ones selling last week and Retailers were the ones buying. What does that mean? That means that we kind of bought the bag Retailers if institutions and hedge funds were mostly selling sellers last week and retailers were buying the idiots were the idiots Don't always have to be the idiots. That's true. There's one piece of capitulation.

Starting point is 00:37:05 You know what I saw about like 20% of those, hedge funds? No, those retail accounts that got set up in the pandemic are starting to close. Yeah, wild, huh? So that's what I was gonna say is one of the things that these analysts look for is retail capitulation. Like, because there's so much retail money still out there

Starting point is 00:37:31 and retail just means you and me. Right. The everyday guy or trader investor, whatever. It's a small guy, a small person. One of the things that they look for that still hasn't happened yet is outflows of money from retail traders saying, all right, enough, I gotta get out.

Starting point is 00:37:47 That's usually a sign that the low, either near term or long term is in, and there hasn't been that according to them. But the fact that, yeah, like 20% of new accounts that were opened since the pandemic have now shut down, to me, that's kind of a capitulative stat, right? I don't know exactly. I'd, because how much of that is like people

Starting point is 00:38:12 just dicking around gambling? Yeah, and how much of it is people who just, you know, opened it, I mean, I opened a Robin Hood account when the fucking GameStop thing happened. Yeah, and then I was just like, I don't, I want this. Yeah, I don't know. I want this. Then yeah, I don't trade at all.

Starting point is 00:38:28 I just use like an investment thing. I had one just to get the free stock. I don't remember what stock I was given, but I sold it and then they kept pestering me. They kept bothering me to like fill out my tax forms. Oh dude, that made me alone. Stop. I never did. The IRS wants to come after me for my tax forms. Oh dude that that made me alone stop. I never did

Starting point is 00:38:46 The IRS wants to come after me for my $11 fucking try it. What's gonna happen? They're gonna audit me That would suck. Oh, I know being audited would be because there's some stuff that you probably don't have the proper paperwork for but everyone like Yeah, yeah, you're not moving money in the right ways and yeah. It would be so annoying. It would be such a nightmare. And now with Venmo Venmo is going to give everyone what is it 1095 or something really? But I don't so I don't know if you notice they they have been they've probably been bugging the shudder they bug me if I open my Venmo they I probably have a million notifications from them being like, you need to submit all your tax theft. They want, but I just don't do it.

Starting point is 00:39:29 Yeah. But I'm sure they'll email me one. Yeah, I don't get those notifications. I still get whoever's trying to fucking sign into my Venmo account. Stop trying. You're not gonna get it. Maybe they will one day. Yeah. What if they said that to the right brothers? Stop trying. You're never going to get it. Didn't one of them die in a plane crash? Probably.

Starting point is 00:39:50 Yeah, I guess. No risk, no reward. That's true. But now look at us. Burning the planet alive with planes. Yeah. Planet deserves it. We deserve it.

Starting point is 00:40:01 That's true. Um, Chimoff, Pali Hapetia, another sign. The Spack King. The Spack King. The guy who did he call himself the next Warren Buffett? Did he give him some? Yeah, I think he did. I love saying his last name. It's so fun to say. You got it. Every time I hear you say it, I'm like, oh, yeah, it's not that hard. And then I look at it and I'm like, go for it. Yeah, Jamath, Palli Happetia. I just call him Jamath. So he's winding down two of his spacks after a hunt to find targets to take public came up empty. They hold

Starting point is 00:40:30 more than $1.6 billion. No, no, they well, oh, yeah, yeah. Oh, one of them had one point 15 and then the other four hundred. And now Adam, together, that's like one point. That's like one point six. Yeah, yeah. One point six. One holy shit. Damn, yeah. One point six, one. Holy shit.

Starting point is 00:40:46 Damn, you're good at math after all. Not me, me bad. But he said that valuations and volatility were the two biggest barriers to closing deals. That doesn't sound very worn buffety to me. Warned Buffet wouldn't make that kind of excuse. He go buy a burger in a cherry coke and suck it up. Share prices for companies he took public

Starting point is 00:41:05 in earlier deals like space tourism, venture, version, virgin galactic, holdings, and personal finance app, so-fi technologies are down more than... 90%, no, 60%. Oh, collectively? Yeah. Yeah, that's not very good. Those aren't good, really.

Starting point is 00:41:20 No, causing big losses for his followers. With that track record, it wasn't clear investors would support his deals. Yeah. I remember when he kind of like it reminded me a bit of the Litecoin co-founder Charlie Lee doing a bit of a surprise rug pull where one week he's like all about it. And then the next week he's just like, yeah, I sold all my shit and I'm not I'm not in this anymore. He did that with Virgin, I think. He was like, oh yeah, this is great. And then the next week, he said,

Starting point is 00:41:47 yeah, I've sold all my Virgin Galactic Holdings. I think that it's gonna be a while. Oh, Jamath. Oh, dude, he always made out. Yeah, like a fucking, like hundreds of millions of dollars. And then he goes on, just for coastsigning, basically. He goes on and is like, oh, I would never suggest that my followers buy into these things.

Starting point is 00:42:04 I always pressure them to do their own due diligence and make sure it's like the fuck out of here. And then yeah, it talks about how Facebook is like kind of contributing to destroying society and yet that's where all of his wealth came from. He was like an early, oh really? Oh yeah, that's where that's how he's a billionaires from Facebook It's like if you really felt that way put that money towards something that would Have a meaningful lasting impact positively on society. I heard one of the guys. I don't know what you would do

Starting point is 00:42:36 But is it is Kevin one of his co-hosts Kevin something? Yes He was on a he was on a show. Oh on his but on their podcast on a, he was on a show. Oh, on his, on their podcast. Yeah, he was on another show. And they, this was a while ago, but they asked him about Jamath and the specs and he was just like, oh, I don't want to talk about it. Yeah. Sure.

Starting point is 00:42:56 Come on. Yeah. There's one guy who I've, one of his, I think the main host, Jason Calacanis has expressed it. I don't know who's, I don't know who's an... He's a venture capitalist and he's got, he's the co-host with Jamoth and he wants to be on the show.

Starting point is 00:43:12 So... This show? Yeah, I invited him months ago. Can we ask about Jamoth? We've got to. They'll probably say the same thing. All right, okay, talk about that. And I'll say Jason, we're not gonna move on

Starting point is 00:43:24 until he answers the question. You got to answer the can't talk about that. And I'll say Jason, we're not going to move on until you answer the question. You got to answer the question, Jason. Jason, did you see that GTA, did you see any of the GTA 6 released gameplay? Yeah, kind of freaked me out. Why? So I used to play GTA as a kid. Of course.

Starting point is 00:43:36 I had the, I think GTA 2 was probably the first one I played. Mm-hmm. And it was obviously very cartoonish. I don't know if you remember, GTA 2 was from Birds Eye View. Yeah, top. Yeah, you see basically the top of the guy's head. And you were running, it was like very cartoonish. I don't know if you remember GTA 2 was from Bird's Eye View. Yeah, top of that. Yeah, you see basically the top of the guy's head, and it was like kind of fucking confusing and hard, but so you see the bullet spray out.

Starting point is 00:43:53 And then GTA 3, changed every fucking blue our minds, but it was still cartoonish, you know? GTA 4 and 5 same, those were, it looks so real. Yeah. And I was like, because I watched that robbery video, and I was like, I don't know if I want to, it's so real.

Starting point is 00:44:10 Yeah. Just the, all those games are, modern warfare. Yeah. Maybe I'm just a pussy. No, I hear what you're saying, because the argument before when, and I'm not like, oh, video games lead to violence, but like, people can can play that can change right

Starting point is 00:44:27 i don't care about that i'm just like i don't think personally that's as fun it's fun doing a little cartoonish kind of guy i disagree somewhat i think that as technology advances there is room for that conversation to be reopened as they become hyper realistic then it kind of to me that changes the argument because back then it's of, to me that changes the argument. Cause back then it's like, you're a little like cartoon video game guy, shooting people, yeah, it's not, but now if it gets like photo realistic,

Starting point is 00:44:54 and it looks like, wow, this is actually like, I'm making this little real looking guy, you watch the, shoot this guy. Watch the robbery video, you're like, I'm just watching that fucking, I mean, it's not, I'm not I mean, it's not I'm not an idiot It's not so they like move in weird ways and stuff. It's just yeah It's just weird remember when you would pick up the hooker and GTA 3 in the car would rock and you'd just be like fucking 13

Starting point is 00:45:17 What would it look like in there? Just show us what it looks like in there. This is insane. Yeah, I just have to watch the car rock I remember going into the strip club in GTA IV and being like, damn. Yes. Remember the hot coffee? What? It was like a weird mod or, I think it was like the first edition had this thing

Starting point is 00:45:42 they didn't take out where you got to a fuck someone or something like that and you could actually see it. Oh yeah, I do remember that. And I remember it being in a bedroom. And it was crazy stuff. But so I wanted to talk about back when Grand Theft Auto V came out, I made a huge mistake. And a lot of, I think it could be a valuable lesson

Starting point is 00:46:04 for some people who are aspiring traders and investors with only a little bit of money that are probably fucking around with options. This is a great example of why sometimes buying the stock is way, way, way, way, way, way better and smarter than trying to play options. Picture this. It's like six months before Grand Theft Auto 5 comes out. All right. Take two interactive, which is the company that owns Rockstar was trading it like 16 bucks. At a market cap of like $800 million.

Starting point is 00:46:39 And I remember thinking, holy fucking shit, this is so undervalued, the market has no idea what's about to happen. Grand Theft Auto 5 is gonna be, it's gonna sell more, it's gonna pull in more revenues on the more revenue on the first day of release than the company is worth. It's gonna sell a billion dollars worth on the first day. This is a, and- Wait, why did you thought this?

Starting point is 00:47:04 Oh yeah. Why, What made you think that? Because it was so hotly anticipated. The trailer looked amazing. What they kind of all were. Yeah, but this one was like... Like... This one also had the online aspect, which was going to be the first time...

Starting point is 00:47:18 That was a huge deal. Yes, that was a huge selling point for it. I was personally thrilled about it. I was just, I could not wait to get my hands on this game. Right. And I knew that them going online was going to introduce an entirely new revenue stream with these micro turns transactions that hadn't yet really been factored in yet. Right. That was probably the biggest deal. Oh, yeah. Yeah. Yeah. So which is part of the reason why that they haven't come out with Grand Theft Auto 6 and so long is because Grand Theft Auto 5 has been such a huge money maker, just with the online gameplay.

Starting point is 00:47:51 But so, I had like, I don't know, 7 grand or something and I put it all into call options instead of just buying the stock outright. You know what happened to those options? They expired worthless, because the stock didn't move where I needed it to move in time. I bought the options for like right around. Right around planning for it to happen like around releasing. Yeah. Okay. And stock moved. But it didn't, it just kind of like, you know, didn't really do anything until months later. It rocketed to like, I don't know, a high of $200 and something dollars a share. Damn, that is a 18. From 18. Yeah, or wherever it was in the teens.

Starting point is 00:48:32 And sure enough, I was right. I think day one, it made like $1.2 billion. It sold that much. Can we see how much Grinth of Thout of Five sold in the first day? 11 million copies sold. Yeah, but how much money was that? Yeah, it was the best selling game in any 24 hour period.

Starting point is 00:48:54 So... Did you play it? Oh yeah, absolutely. I fucking loved it. It was so great. Oh yeah, it made 800 million in 24 hours. So, I was close. But still, that's the whole company's valuation pretty much in 24 hours on that day one.

Starting point is 00:49:11 Yeah, I played it a little bit, but oh, man, it's so good. Yeah, but I was like living in New York, I was like, I'm just gonna do Granthath Auto outside. I'm gonna go have fun. Yeah, don't even get me started on New York. But so there's a lesson there that sometimes it's better to just buy the stock out right instead of dickin' around.

Starting point is 00:49:30 If you really believe in a company, put the money in, I personally, if I had to do it again, I would put the money into the stock instead of the, because then you got all the time in the world. You don't have to worry about the options expiring on you. But how'd you time to have right?

Starting point is 00:49:45 You would have made much more money. Sure. Yeah. I could have bought some long dated call options instead of the shorter dated ones. That would have been smarter. Well, what happened with Meta real quick? Mark Zuckerberg is well, it's just Mark Zuckerberg. A hammering money. Oh, yeah.

Starting point is 00:49:59 His net worth about $71 billion since this little bet on the Metaverse, but he's got his big little um, in October, they have a little launch for the, what does it project fucking Cambria? What is it? It's the new headsets. Oh, he's going to be walking around on stage like this is really cool. It actually feels like I'm getting jerked off People are going to be meeting more in the metaverse. Yeah, project they're not project Cambria highly anticipated and powerful mixed reality headset

Starting point is 00:50:34 It's too. I think it's like October 11th. I have this could this could turn it all around I don't think so I don't think I'm rooting for it to fail so hard. I just don't want. Have you ever tried anocules? Yeah, I put some ones on and like they're cool. It's kind of like, oh, this is cool. Okay. Oh yeah. Okay, let's go to dinner. My brother got one for Christmas one year. Yeah, it was like, we all kind of put it on and they were like All right, yeah, I don't think he's ever used that sense. It makes me feel sick now though I get like motion sickness and I can't do it It's really fucking cool, but then you kind of go and it's like I think that it's a It's a common thing people try it and then they just kind of go all right, and then it becomes a paperweight

Starting point is 00:51:23 yeah And the fact I imagine it'd be fun for video games and then they just kinda go, all right, and then it becomes a paperweight. Yeah. And the fact, I imagine it'd be fun for video games. Sure, I think that they're, Oh, imagine fucking realistic GTA and that thing. That's dangerous. That scares the shit out of you. You're just giving yourself PTSD?

Starting point is 00:51:37 Yeah, no kidding, man. I feel like he got caught up in a lot of the excitement of the last couple years when there was this, there was that elation in the market that, oh, just invest and dream bit. Didn't it feel like that? It was just this big kind of free for all. The market was at all time highs and just kept on fucking going. It was just, just dream big and the money will follow and they made this big Pivot to the metaverse and it's they wanted it to I feel like Zuck's idea was

Starting point is 00:52:14 Mark Zuckercourt. No, you're you're rich your friends with them. You call them Zuck. That's true. We are friends Ben calls Bill Gates Billy Billy boy. Hey, Billy. Yeah. So I feel like he thought that it was just going to happen like now and it just that kind of thing, man. Look how long it took. So apparently they've been spending $10 billion a year on trying to find the next, you know, software. I don't think it'll ever happen. I think that it will be a tool for certain things like pilot training. Any kind of professional skill that requires. Oh, yeah, I don't think this is it. And I really hope it's not it. I think that it has a use in like, yeah, pilot training, surgeon training, any kind of like practicing where you really need to do hands-on stuff is really, really good for. And then other than that, I do not think that any kind of metaphors-

Starting point is 00:53:13 Also, I can potentially just cash out and then just live his life. Him? Oh, yeah. Why are you fucking doing that? You're just querying to go on stage with a headset on, dude. You can stop. Just go ride your stupid hoverboard. Yeah, it's like I told what's his name? I know.

Starting point is 00:53:28 The Robin Hood guy. People are calling for him to step down. They're like, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he's, he. You are no longer the target of everyone's hatred. You can just disappear and... Oh yeah, you're not that recognizable. Go live a life. Go live your life. Buddy, Mark Zuckerberg doesn't have that. He's a very distinct looking...

Starting point is 00:53:55 But he could still go live a life. He could, yeah. He's got enough money to... Go get a little Lake Tahoe compound. And write a book in like five years reflecting on how you fucked up all of society by creating this thing. Oh, no, no, no, you don't even, you write a book and talk about how, it's like the Andrew Cuomo, I love that.

Starting point is 00:54:13 The how I navigated a pandemic, like as the pandemic is approaching. You wrote a book? Oh, yeah. Oh, Christ. Eat, it's Christ. Yeah. Guy, how I assaulted women while navigating a pandemic. Yeah, a creeper, but yeah, I don't understand why he doesn't do that just

Starting point is 00:54:32 Take some like I wonder Joe Rogan off air convinced him to take psychedelics and reflect on what he's done to society Can you imagine why did he do something? I don't know, but he was already like, do you remember, he said, I woke up and feel like I've been punched in the stomach. Yeah, but that's just his normal brain every day. He would have, imagine him having like a drug-induced psychotic break. I don't think that would happen.

Starting point is 00:54:59 I think it absolutely would. Imagine, I mean, the normal person taking mushrooms or acid, you're already kind of like having an ego death and reflecting on all the things you dislike about yourself. Right. Imagine it on that scale. How would your brain not explode? But I think they are... I think that there's a part of him that does feel guilt and shame for what he's in a self-aware enough person. He doesn't present it well, but I think that he absolutely is. He's also definitely done psychedelics. I don't know, man.

Starting point is 00:55:32 I doubt it. I think- I mean, fucking Steve Jobs was able to do tons of acid and still use like fucking factory workers and stuff. He wasn't like true. This is all wrong. They're like, they're like, oh, this is just helping with my creativity and I'm just a I can see him having microdosed and tried that but I highly doubt he's done any kind of Spiritual because he doesn't ever talk about any kind maybe he's private, but he doesn't ever talk about any kind of spiritual Shit like Steve Jobs did sweet baby race. That's hisiz. That's his, he attends the church. Someone dozed the sweet baby Riz. But I mean, I think that he knows, and he's kind of in denial, like, no, it's the people

Starting point is 00:56:19 that are wrong. They misused these tools that we've given people. No, I think it's the other way around. That the tools are the bad thing. I think part of it is I was reading an article that it all goes back to the share button. Like the share and the retweet, it provides the endorsement

Starting point is 00:56:40 that doesn't require commentary, doesn't require critical thinking or anything. It's just this is not an astute way of putting it, but just putting that out in the world really was a pivotal point where as soon as they let the moms on Facebook, it was all over. Oh yeah. Oh Jesus Christ. Yeah. Well, we gotta do we gotta do beyond meat real quick Okay There's so many I mean you see something like that and you just know that Jay Leno's out there wishing he was still on TV Yeah, see this one. Hey guys see this. Hey. What's up beyond meat? You heard about this right fake me. Me. Play based me

Starting point is 00:57:24 Not my thing You know this, you know what I'm talking about. You heard about this stuff, right? Fake, fake, fake, me. Play, face me. Not my thing, but for some, you know, it's good. Anyway, beyond meat, COO, did you hear this? Got arrested, biting a man in the nose. But I don't even know what's the joke. Give me the joke and I'll do it. There's a joke about, you know. It's not real meat.

Starting point is 00:57:43 Apparently, there's nothing like the real thing. Yeah It apparently turns out there's nothing like the real thing. Yeah, it turns out, it's nothing like the real thing. Folks, of course we're, that's the key to a good JLN impression. You gotta go, you gotta go high. You're getting like pretty ticony. Yeah, yeah, wow, it is it's adjacent to that. What the fuck did he do?

Starting point is 00:58:07 He was at a, I think he was at a football game, an Arkansas football game, right? And he, dude, it's fucking crazy. This guy, he punched through the back windshield of a Subaru after it made contact with his front tire of his car. Okay, so the contact with his front tire of his car. Okay, so the Subaru owner then got out of his car and Ramsey allegedly started punching him and bit his nose, ripping the flesh on the tip of the nose.

Starting point is 00:58:33 Dude, that sounds like a... I gotta get some beyond me and some powerful stuff. The victim in a witness also alleged that Ramsey told the Subaru owner he would kill him. Sounds going on. How the fuck do you punch through? I have a Subaru. I didn't know there was over. Yeah, that's some reek strength.

Starting point is 00:58:52 I mean, he's probably feeling it because like it notes in this article, the stock has fallen 73% this year, dragging its market cap down to one billion from a high of 13. Yeah, but I think he came in to kind of write the shirt. No, I mean, he's a see, I don't know if that was, but he came in like December. Yeah. Oh, wow. I think they were already kind of doing poorly.

Starting point is 00:59:10 You know what it is. Scroll down a little bit more, please. He spent three decades at Tyson Freys overseeing its poultry and McDonald's businesses. So this guy, his brain is poisoned from eating all that Tyson meat, man. Yeah. His brain is just all those chemicals in there.

Starting point is 00:59:26 That's what I would do. I'd put out a statement saying, you know, turn it into a win for the company. Say, you know, it's from the three years of eating real meat. I think that is what it is. It's a ringworm. I think they already put him on leave. I think his days might be numbered.

Starting point is 00:59:40 I mean, beyond meat's days might be numbered. So the food company has been facing skepticism from investors over disappointing sales, operating challenges, and it's a long-term growth prospects. The stock has fallen 73% this year, dragging its market cap down to $1.09 billion. It's actually crazy. So their market cap reached a high of $14 billion in 2019. It was still over $9 billion in June in early July 2021. The stock price was around $150 a share on Friday the stock closed at $18.29. I think as of now, what is it?

Starting point is 01:00:17 BYND, let's see. I'm gonna say it's $16. $14.75 as of today, that's yesterday for you guys. But I remember when at IPO'd, and at IPO'd, it opened like 100% higher than, I think the IPO price was gonna be in the 20s or something, and it opened at like 40, and I thought, this is fucking stupid,

Starting point is 01:00:39 this is so overvalued, I even tweeted, if you're thinking about buying that beyond IPO, please don't. Why, what was your thought? Because I thought that that it was insane that it was overvalued and that it was just you know Hype and that it wasn't gonna go anywhere and it was gonna be ultimately a failure of an IPO boy was I Dead wrong that thing rocketed almost non-stop to like a hundred two hundred bucks a share or something Yeah, I think it and I felt real dumb baby. I felt real dumb. That was a stupid Stupid. Yeah, but now look at you. Oh, they're LA based. I thought they were plant-based

Starting point is 01:01:19 Wow, it was only founded in 2009 That kind of makes sense. I guess, but fuck, what are we doing? I could have done that. Again, another... Why did I do that? I'm rooting for the downfall of. Why? Because beyond meat and fucking impossible

Starting point is 01:01:33 have truly ruined some of my favorite dishes. Like what? Because they gave the idea that just because someone is a vegetarian means that, oh, they miss meat. Because I'm vegetarian, all I do is walk around going like, oh, I wish I could eat a burger. I wish I could have a burger, right? So they're like, well, now you can.

Starting point is 01:01:52 We have this thing that tastes like a burger. And now they have these other things. They have impossible ground beef and sausages. Sausages and whatever. So restaurants that used to have really good vegetarian options that they would make now have just been like, well, it's much easier. We can just buy impossible. And so, there's a place in Malibu. I can't remember what the name is. One of the best veggie burgers I've ever had. Red lentil veggie burger.

Starting point is 01:02:16 It's called a meal's favorite red lentil veggie burger restaurant. Fucking, and we all went climbing and point doom. And I was like, oh, I know where we got to go after this. Like best veggie burger I ever had. And everyone's like, shit, that's amazing. We get there. And everyone's like, it says impossible burger. I was, yeah, that sucks, man. So pissed.

Starting point is 01:02:36 I remember during the height of the pandemic, all the meat was like off the shelves. And the only thing that was still, like people just wouldn't buy it was beyond meat stuff. It was like the only thing left in the frozen meats section was beyond meat. Just because people were like, I'd rather not eat anything than eat that shit.

Starting point is 01:02:57 It's not bad. That's the thing, it's fine. I just don't, I'm not like, oh, I'm in burgers. Would you eat lab-grown meat, like real actual animal meat that's grown from stem cells or whatever? I don't crave meat a lot. Like, I have, in special circumstances, like in Japan, if we go to a nice restaurant or whatever

Starting point is 01:03:20 and it's like, oh, you have to try this, I'm not gonna be like, oh, actually, I don't eat red. Right, I'll probably try it. If it's in tight, like, if it, you know, looks enticing to me. Yeah. But there's not, I don't have this, I actually kind of find it gross a lot of times.

Starting point is 01:03:36 It's like this fleshy, I lost my taste for it. I get that with pork. Sometimes pork, I'm like, Jesus, get this shit out of here. Oh yeah, and the way it makes you feel after. Yeah, tired. Like cutting a burger open and like all the grease and stuff. And that doesn't really sound that appealing to me anymore. I also, I really got to stop eating red meat because you know, I don't want ass cancer. It gives you ass cancer. Oh dude, red meat is like one of the

Starting point is 01:04:03 number one causes of ask answer Call the cancer. Yeah, you don't want that shit in your butt Okay, maybe I'll be terrible for you raises your blood pressure cholesterol heart disease is I don't think I had I don't think I've had red I probably wouldn't eat red meat in Japan. I don't think I've had that since I stopped I've had some like chicken and that's good. Let's see. What have we got what what else did we have in here? Just just real fast? Spotify getting an audio books who cares? chicken and that's good. Let's see, what else did we have in here just real fast? Spotify getting an audio books, who cares? Actually, that one's, I didn't realize what a big business audio books are. That and what a big share audible had over it.

Starting point is 01:04:39 They're like, you know, 40 or 50% of the entire market. Yeah. And it's a huge industry. I can't listen to audio books too hard. Don't pay attention. Yeah, we talked about this. I'm gonna talk it. Um, what? Be real, it's trying, oh yeah,

Starting point is 01:04:53 be real is trying to monetize. How the fuck is that gonna look? Be real sucks. If you're on it, get off. Who cares? I like be real. All it does is notify me that I haven't shared a B-Real. That's what B-Real does. It's the app that lets you know that you're late to using it.

Starting point is 01:05:10 Also, I mean, B-Real is fucked. We were joking about how these others, like TikTok is coming out with TikTok now, which is just gonna eat a slunch. Instagram, I'm sure we'll figure out a way. Instagram probably already has an easier time too, because everyone already has close friends. You could just like, it's the same thing.

Starting point is 01:05:27 Right, I just want to send these out to my close friends. Instagram is the king of seeing a new feature and going. We can just put that in. Yeah, let's just do that. That seems easy enough. We can do that also. Sure we can also be that other thing. Stories?

Starting point is 01:05:41 Fucking Instagram drives me insane. You can't pause anything. you can't use the, I never know if pressing the screen is gonna pause it or mute it, depending on what it is. They fixed the Twitter video. What do you mean they fixed it? They updated it and then the timer, the time bar would just stay on the screen.

Starting point is 01:06:02 It was so annoying. Oh, good. No, you have bad, that's what I meant. But then when, and usually just stay on the screen. It was so annoying. Oh, no, yeah, bad. That's what I meant. But then when and usually you would touch the screen at a time bar would go, well, you know what I mean? No, it pauses. It would pause it. God, it was driving me and do any of these people. Honestly, I was going crazy. I said, how would you think this would be better for us? Yeah. And then now like two weeks later, you can use it again.

Starting point is 01:06:22 You know what? And they took away the thing. Remember, it was great. They had a thing where you double tap in five seconds. Oh, yeah, that's again. You know what, and they took away the thing. Remember, it was great. They added a thing where you could double tap in five seconds, you can pass forward. Oh, yeah, pass forward. It's back. That's good. That was going crazy. They need to get people like us.

Starting point is 01:06:32 People like us. Just put stickers in a room and say, hey, play around on the app for a little while. And a guy will stand over your shoulder and just take note when you go, this fucking sucks. This is frustrating. Don't do that.

Starting point is 01:06:42 Why is it like this? This is good. You would think they fucking did this. You would think they did that. They don't. They probably get a bunch of dipshits who just, I don't know. Anyway, be real.

Starting point is 01:06:52 We're talking guys being more, you know, being extra. Not extra. I think they're probably, is they think they know better than everyone. So there's a lot of things. I remember my friend, he went to a very fancy business school. And he was Harvard.

Starting point is 01:07:09 What? Yale, Harvard. No, West Coast. UCLA, USC. Come on. Best, one of the best business schools in the country. Stanford. There you go.

Starting point is 01:07:22 Fuck them. And he was trying to tell me that, oh, because I got a new haircut because the person I like couldn't do it for a while and I was like, the sucks I don't wanna go. And then I talked to him afterwards and he was like, I was like, he's, it took him forever. And he seemed so uncomfortable.

Starting point is 01:07:40 I go to my other person. It's like, they know exactly what to do. It's like, it was so nice. And he was like, that's weird because, you know, research shows that people like it when they spend a longer time on. And I was like, yeah, yes. And he was like, no, it's true.

Starting point is 01:07:55 People like that. I was like, okay, and he was like, like when someone comes, and he gives me this like, case example, he's like, okay, a plumber comes over to your house, right? And he only spends like 15 minutes there and fixes the thing and he leaves. You're gonna be like, I got ripped off

Starting point is 01:08:11 and I'd be like, no, that's great, get him in and out. And he's like, no, no, no, you just don't get it. People want them to spend a long time there. And I'm like, lose my mind. I'm like, I don't want that. You can't tell me. Yeah, but people do. People want that.

Starting point is 01:08:23 Strav' me nuts. People want to see the plumber ask for it in their house. I want them in and out, fix the fucking thing and leave. You know what I would have said? I would have said, damn. So how much did you pay to learn that? That's cool. That's of course you paid a lot.

Starting point is 01:08:35 It's stand for business school. It's like 200 grand. For one year? For however much. Probably for the whole thing. Shit's free online now anyway. Probably not. Stand for business, you know. Probably not Stanford business. Anyway,

Starting point is 01:08:47 be real sucks. I deleted it. Good riddance. I don't care. I deleted it too. I'm tired of these. Everyone requests my shit. You know, I'm getting, I'm getting a lot of LinkedIn requests. I don't use LinkedIn. Stop it. I need to deactivate the shit. And it's all these dorks. I love you guys, but your dorks, because they're all like business students, and they're like, Zachary from Penn State wants to connect on LinkedIn, like, well, I don't. You want to connect? Zachary, I don't.

Starting point is 01:09:18 Not you, Zach, but different Zach. Also, if you ever think we're talking about you on here, it's not you, it's a different guy who's like annoying. You're- You're cool. You're fucking cool. You who requested me on LinkedIn, you're actually cool. If you think it's you, it couldn't be you,

Starting point is 01:09:32 because you're fucking cool. Yeah. But trust me, there's some guys who are not cool. Yeah, they suck. So, should we end the episode here, so I can get to the bidet talk in the after hours? What are we talking about after- coming up on after hours?

Starting point is 01:09:46 Surgery, making you taller? Poop, poop, wagons is ending self checkout after too much stealing. What the fuck? What is this a regional show now? What the fuck? We don't have wagons. What is wagons? I'm from the northeast.

Starting point is 01:10:00 Yeah, well I'm not, bitch. What do you want to talk about bonds now? You know, we, you open this talking about a fan in Iran, right? Yeah You don't think we have fans and they don't have Wegmans there There's by the way that making also not about Wegmans I know I know but the making the MLK movie about the, with the white actor, I think that that was fake. I googled it and there was nothing.

Starting point is 01:10:30 Okay, then we'll talk about something else. Then we'll talk about how we got tricked. Again, catfished by information. You're the king of getting tricked online. I am the king of getting tricked online. All it takes is one woman, one busty babe, to be like, send me your credit card information. I go, yes, queen.

Starting point is 01:10:48 Yes, queen. No, I don't do that. And then you jack off and call a friend, like, should I cancel my credit card? I'm like, yes. Listen. She just bought a car, dude. What the fuck?

Starting point is 01:11:01 It was AirPods and I canceled it. And that was a long time ago. Alright, we're gonna talk about it. Also, you never know what can happen after our... It could be crazy. That doesn't interest you. It's probably gonna be something that does... We don't know where it's gonna go. Guess what I'm gonna do.

Starting point is 01:11:18 I'm gonna crack open an ice cold. No, we're done with them. Diet Coke. So it's shit's gonna get absolutely crazy. You got a tune in if I know. See what's gonna happen. I'm gonna... Take off your shirt.

Starting point is 01:11:34 Whoa, you're gonna do what? What was that? Show hole. Show hole? Yeah. Your ether or anus? I'll decide it after. That's kind of the beauty of after hours.

Starting point is 01:11:43 It's this spontaneous, where are you going? I'm gonna an after. That's kind of the beauty of after hours. It's this Spontaneous we're gone. I'm gonna go pee. All right, bye This week on after hours you know I wish I had a powerful bottle Read Nass or boys you know the drill he does yeah, I got to get a toilet now You let me eat you if we were an implying crash. I'd like to eat me without the blank crash. No Sign up on TMG Studios dot TV to watch the full bonus episode Do you let me eat you if we were an airplane crash? I'd like to eat me without the plane crash. No. Sign up on TMGStudios.tv to watch the full bonus episode.

The Trillionaire Mindset - 52: Pain is Coming

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