Latest / Earn Your Leisure / EYL #5 I Got a Story to Tell.

Transcript

EYL #5 I Got a Story to Tell. · Earn Your Leisure

0:00
Speaker 1: With Robinhood, not only can you trade individual stocks and ETFs,
0:03
Speaker 1: you can also seamlessly buy and sell crypto at low costs,
0:07
Speaker 1: trade all in one place. Get started now on robin Hood.
0:11
Speaker 2: Trading Crypto involved significant risk. Crypto trading is offered through
0:14
Speaker 2: an account with the Robinhood Crypto LC. Robin Hood Crypto
0:16
Speaker 2: is licensed to engagement virtual currency business activity by the
0:18
Speaker 2: New York State Department of Financial Services, Crypto Health thro
0:20
Speaker 2: robin Hood Cryptos not fd IC insured or SIPC protected.
0:23
Speaker 2: Investing involves risk, including loss of principle Securities. Trading is
0:26
Speaker 2: offered through an account with robin Hood Financial LLC member SIPC,
0:28
Speaker 2: a registered broker dealer.
0:52
Speaker 3: Back Dah's episode five on Your Leisure Podcasts, Thank you
0:56
Speaker 3: Again called us a portal.
0:57
Speaker 4: The feedback keep sending us in with the suggestions.
1:00
Speaker 3: We greatly appreciate it, and we'll try to get into
1:03
Speaker 3: our definitely into our topics.
1:05
Speaker 4: We're gonna start right away with maybe of silence.
1:08
Speaker 5: Man here, so we're going to talk about snapchat. Snapchat
1:13
Speaker 5: is interesting for a few different reasons. But yeah, he
1:19
Speaker 5: said a moment of silence because we you know, we said,
1:21
Speaker 5: like the death.
1:22
Speaker 4: Of Snapchat definitely.
1:23
Speaker 5: Yeah, Snapchat something I never really was really keen on.
1:26
Speaker 5: I never really got on the snack. I never got
1:28
Speaker 5: on the Snapchat, but obviously it became very popular, especially
1:31
Speaker 5: amongst young people. Instagram kind of took the features a
1:37
Speaker 5: lot of it, most of it.
1:38
Speaker 3: So it becomes popular for that alone. Like, well, a
1:41
Speaker 3: couple of things. Number one was that it had the filters,
1:43
Speaker 3: Like most people even like that we're on Instagram will
1:46
Speaker 3: go to Snapchat to get the features, the filters and
1:49
Speaker 3: put them on their posts. But another thing that they had,
1:52
Speaker 3: which actually was against them later in the future, is
1:55
Speaker 3: that the pictures the content was only available for a
1:58
Speaker 3: short period of time.
1:59
Speaker 5: Yeah, twenty four hours and then like disappeared and stuff
2:01
Speaker 5: like that. So all right, so Snapchat. Before we even
2:04
Speaker 5: saw talking about Snapchat, we got to go back to
2:06
Speaker 5: the last episode we talked about Kylie Jenner, So she
2:09
Speaker 5: plays a major part in Snapchat as well, because about
2:12
Speaker 5: a year ago, year and a half ago, she had
2:15
Speaker 5: an issue with Snapchat and she tweeted pretty negative tweet
2:20
Speaker 5: about Snapchat and that right after she tweeted that, the
2:23
Speaker 5: stock price dropped six percent.
2:25
Speaker 4: Yeah, it was their owndoing though, like I think they
2:28
Speaker 4: had an update. They updated and it changed the design
2:31
Speaker 4: of change the design.
2:32
Speaker 5: So she tweets that she's leaving pretty much or she's
2:35
Speaker 5: not feeling Snapchat anymore, and it's the stock price dropped
2:38
Speaker 5: six percent the next day. This is crazy, which equals
2:41
Speaker 5: a one point three billion dollar drop. So she she
2:46
Speaker 5: dropped the company's value one point three billion dollars in
2:50
Speaker 5: one day off of one tweet. Pretty powerful. So the
2:56
Speaker 5: first quarter of twenty eighteen, Snapchat had one hundred and
3:00
Speaker 5: eighty one million users. Second quarter of twenty eighteen, they
3:03
Speaker 5: had one hundred and eighty eight million users, So they
3:06
Speaker 5: were on a steady decline. They had a study that
3:11
Speaker 5: said forty percent of their staffers were planning to leave.
3:13
Speaker 5: They have three thousand employees. Forty percent of their staffers
3:15
Speaker 5: are playing the lead, which is almost half of their employees.
3:19
Speaker 5: They still haven't made a profit yet. Yeah, they made
3:22
Speaker 5: They haven't made a profit yet, right, And that's interesting too.
3:25
Speaker 5: Not to go off topic, but a lot of these
3:27
Speaker 5: companies that we see are not profitable and have never
3:30
Speaker 5: been profitable. So if you look at it from like
3:33
Speaker 5: a small business standpoint, it's like a small business, you
3:35
Speaker 5: can't run a bakery if you've never made a profit.
3:37
Speaker 5: But a lot of these multi billion dollar companies have
3:40
Speaker 5: never made a profit, and they've been in existence for
3:42
Speaker 5: five years, six years, so it's interesting, like Uber or lyft,
3:48
Speaker 5: so all right, so, but the interesting thing about it
3:52
Speaker 5: is that it was looking like the death of Snapchat. Right,
3:57
Speaker 5: They was looking good at all twenty eighteen, But towards
4:02
Speaker 5: the end of twenty eighteen they were able to actually
4:04
Speaker 5: pull themselves together and they're kind of stable. They stopped
4:10
Speaker 5: losing users. So now people are saying, is this the
4:13
Speaker 5: rebirth of Snapchat? Kind of like Twitter? Like Twitter was
4:17
Speaker 5: kind of went through a similar situation where for a
4:20
Speaker 5: while people kind of thought they were dead and they
4:24
Speaker 5: had a resurgence and now you know, Twitter is moving
4:30
Speaker 5: up again. But Snapchat still has a lot of problems.
4:32
Speaker 5: Though they have a lot of debt. They they still
4:38
Speaker 5: haven't fully understood how to monetize their system yet because
4:41
Speaker 5: they're not profitable, and they have their biggest competitor, which
4:46
Speaker 5: is Facebook. Right, so Facebook, Facebook is interested in the
4:50
Speaker 5: social media game because we've seen them take over and
4:55
Speaker 5: like we talked last episode about Amazon, Facebook might be
4:59
Speaker 5: the Amazon of social media, right, So in twenty and thirteen,
5:03
Speaker 5: they they offer Snapchat three billion dollars to buy them out.
5:08
Speaker 4: I think it was like four billion, alright, three to four.
5:11
Speaker 5: They offered them that amount to buy them out, and
5:14
Speaker 5: they didn't take the deal. Now, the reason why I
5:16
Speaker 5: was interested is that the year before that, they paid
5:18
Speaker 5: one billion for Instagram exact right, and and interesting at
5:21
Speaker 5: the time they brought Instagram for one billion because I
5:22
Speaker 5: remember the guy CEO of Instagram at the time, he
5:25
Speaker 5: was on the cover of Forbes and they was like,
5:26
Speaker 5: Instagram gets brought and this is the early stages of Instagram.
5:29
Speaker 5: So obviously they had the vision to offer them one
5:32
Speaker 5: billion because it's actually a good deal looking at it now.
5:35
Speaker 5: But everybody was saying, why would you pay one billion
5:37
Speaker 5: for a company that never made any money? They asked
5:38
Speaker 5: the CEO, They said, Instagram has never made any money,
5:42
Speaker 5: and he said, that's not true. We just made a billion.
5:44
Speaker 4: Dollars, right, So you.
5:47
Speaker 5: Know, if you look at it from that standpoint, So
5:49
Speaker 5: they buy Instagram for one billion in twenty twelve, then
5:52
Speaker 5: they buy WhatsApp for nineteen billion, which is gonna buy
5:56
Speaker 5: it for the petitors in twenty fourteen. Now, people especially
5:59
Speaker 5: in the America, I don't think peop will fully understand
6:00
Speaker 5: the power of WhatsApp. But overseas WhatsApp is huge. Like overseas,
6:05
Speaker 5: everybody use WhatsApp, not.
6:07
Speaker 4: Just overseas, like people who have family.
6:09
Speaker 5: But what I'm saying, if you have, if you're trying to,
6:11
Speaker 5: because it's free and you know you can. You can
6:14
Speaker 5: do facetimes, you can do calls, you can do texts.
6:18
Speaker 5: Pretty much everything you do with a cell phone you
6:20
Speaker 5: can do through the WhatsApp. So they paid nineteen billion
6:23
Speaker 5: for WhatsApp. So when they offer Snap three billion, a
6:28
Speaker 5: lot of people were surprised that Snap turned it down.
6:31
Speaker 4: Said no, man, say, it's kind of.
6:33
Speaker 5: Hard to turn down three billion dollars. That's an interesting decision.
6:38
Speaker 5: But the risk that they run in that is to say, okay,
6:42
Speaker 5: either get down or lay down, right like mber Vine
6:46
Speaker 5: another moment of silence, so Vine people don't even remember
6:49
Speaker 5: Vine anymore.
6:50
Speaker 4: Yeah, they had the eight second clips.
6:51
Speaker 5: They had the eight second video clips. That was it.
6:54
Speaker 3: That was it day Yeah, and so like so like
6:57
Speaker 3: what happens is like Instagram and Facebook. Really they look
7:01
Speaker 3: at these features, they said, oh that's really cool.
7:03
Speaker 4: All right, the next update we're putting it.
7:04
Speaker 5: On they so, now that was so crazy. Vine Vine
7:09
Speaker 5: was all over the place. Within two months, Instagram took
7:12
Speaker 5: them out of business because they had eight second video clips.
7:14
Speaker 5: Instagram released ten second video I think fifteen first, I
7:18
Speaker 5: think it was ten. At first they took their It
7:21
Speaker 5: was disrespectful. It was like for one second more.
7:23
Speaker 4: Then they took the Snapchat filter.
7:24
Speaker 5: So no, no, no, I know, but I'm I'm saying that
7:27
Speaker 5: Vine thing happened within three months and there were no
7:30
Speaker 5: more Vine great. So then they took Snapchats filters and
7:34
Speaker 5: the stories and the thing pretty much everything. No apology. Yeah,
7:40
Speaker 5: and Snapchat has struggled since, right.
7:43
Speaker 4: You know. But there's an interesting thing also in Snapchat.
7:45
Speaker 3: In twenty sixteen, they get off with another deal from
7:48
Speaker 3: this company named Google thirty billion. You know what, they say, no,
7:54
Speaker 3: say no again, wow, thirty billion. This time Google was like, listen, face,
8:00
Speaker 3: look is all competitive. They have Instagram. What's that We're
8:03
Speaker 3: gonna try to We're gonna throw more money at them
8:06
Speaker 3: and offer them this and again they say no.
8:10
Speaker 5: Wow, Well there you have it. I mean. The interesting
8:13
Speaker 5: thing is that the stock ip old a few years
8:15
Speaker 5: ago at twenty seven dollars. Now it's at nine dollars.
8:20
Speaker 4: Yeah, I mean a couple of things work again.
8:22
Speaker 3: So like when it started, it was like cool to
8:24
Speaker 3: have your content disappear, right, But what's happening is that
8:27
Speaker 3: social media influences, like on Instagram, it actually works for
8:31
Speaker 3: your benefit now because people can go back in time
8:33
Speaker 3: and look.
8:33
Speaker 5: I don't know how you market it on I don't
8:35
Speaker 5: know how you market yourself on Snapchat because it's it's
8:37
Speaker 5: such it's so disposable, right, it doesn't stay.
8:40
Speaker 3: Like, how could somebody look back at what you were
8:43
Speaker 3: trying to say?
8:44
Speaker 5: If it's gone, they have challenges. But the stock from
8:47
Speaker 5: the stocks that go to twenty seven to nine, it's
8:49
Speaker 5: pretty disturbing. And actually last year they was actually contemplating
8:52
Speaker 5: taking it off the stock market and making private again,
8:55
Speaker 5: which hardy ever happened when that happen, Yeah, that hardly
8:58
Speaker 5: ever happened. So I don't know, man. Sometimes you know,
9:02
Speaker 5: it's we always talk about not selling and keeping your independence,
9:08
Speaker 5: and I respect that, but it's a thin line. Sometimes
9:10
Speaker 5: you have to know when to sell and reinvent yourself, right,
9:14
Speaker 5: Like it's a couple like Elon Musk is a perfect
9:17
Speaker 5: example of that, right, So he starts with PayPal. He
9:20
Speaker 5: sells PayPal I think for like two hundred million dollars.
9:23
Speaker 5: He flips that into SpaceX in Tesla. Now he's one
9:27
Speaker 5: of the richest people in the world. He could have
9:30
Speaker 5: just stayed with PayPal, but who knows if he would
9:32
Speaker 5: have reached the status that he's at now. Same thing
9:35
Speaker 5: with Mark Cuban, right, Mark Cuban has I forgot what
9:38
Speaker 5: his company was called, but it was a sports streaming type.
9:41
Speaker 4: Of h He was like one of the first guys who.
9:45
Speaker 5: Video for sports. Yeah, who buys it for a billion
9:48
Speaker 5: a couple billion. He flips that and he buys the
9:51
Speaker 5: Mavericks and a lot of other companies, and now he's Mark.
9:55
Speaker 4: Cuban, So buy more company.
9:59
Speaker 5: In business, sometimes you have to know. It's like fighting, right,
10:03
Speaker 5: you gotta know when to walk away. You gotta know
10:05
Speaker 5: when the fall.
10:05
Speaker 4: It's like poker, you should what's your analogy on the parties?
10:10
Speaker 5: You gotta leave nothing. So I used to go clubing
10:15
Speaker 5: a lot in my younger days. So I mastered the
10:19
Speaker 5: club scene, and I realized that nothing good happens after
10:22
Speaker 5: three am. That's when all the fights happened.
10:25
Speaker 4: When everything settled.
10:27
Speaker 5: Yeah, nothing happens at three four am. Right. You might
10:31
Speaker 5: leave a party at two and it might have a
10:34
Speaker 5: half an hour left of good partying, But you had
10:38
Speaker 5: two and a half hours, right, So the risk of
10:41
Speaker 5: having a half an hour left is not worth the Well,
10:46
Speaker 5: the reward of having a half an hour of a
10:47
Speaker 5: good party is not worth the tremendously bad things have
10:51
Speaker 5: to happen for that extra half an hour at your stay,
10:55
Speaker 5: so you have to leave. You have to leave the
10:58
Speaker 5: party at two am. So this is similar is sometimes
11:02
Speaker 5: you can stay at the party for too long and
11:06
Speaker 5: you know, you wake up next day and like, what
11:08
Speaker 5: did I do? So Snapchat, I don't know. What's an
11:10
Speaker 5: interesting story. We'll see, we'll follow it. But thirty billion,
11:16
Speaker 5: I don't know. That's tough. That's tough to turn down. Man,
11:19
Speaker 5: for a company that's never made any money and it's
11:21
Speaker 5: not projected to make any money anytime soon. Somebody offers
11:24
Speaker 5: you thirty billion you've never made a profit.
11:27
Speaker 4: Yeah, difficult.
11:28
Speaker 3: If somebody's gonna learn from this, hopefully them and then
11:31
Speaker 3: other companies will learn from it.
11:33
Speaker 5: Or it'll be a case study hard All right, Well, Snapchat,
11:39
Speaker 5: we'll see, we'll see what happens with snapchat.
11:42
Speaker 4: Okay, all right, we're gonna move to a new segment.
11:46
Speaker 5: Here's a little story that must be toold.
11:48
Speaker 1: Listen up, gangsters and honeys with your head done.
11:51
Speaker 3: The best story tell us stuff now right up myself.
11:53
Speaker 3: Gray out, its gray down, its gray out, it's gree douts. Right,
11:55
Speaker 3: we're gonna do this new segment is like you said,
11:58
Speaker 3: we'd like to go into some case study in some
12:00
Speaker 3: behind the scenes of sports entertainment that people don't really
12:04
Speaker 3: know about but probably should, and sometimes it gets swept
12:08
Speaker 3: under and overlooked. And today we want to talk about
12:12
Speaker 3: a gentleman named Junior Bridgeman.
12:15
Speaker 5: Yes, Junior Bridgeman. So, Junior Bridgeman is interesting for a
12:19
Speaker 5: few different reasons. Right, you probably never heard of him before,
12:23
Speaker 5: but he was an ex NBA player. He played from
12:26
Speaker 5: nineteen seventy five to nineteen eighty seven, so he had
12:28
Speaker 5: a pretty decent career. He played twelve years in the league. Journeyman.
12:32
Speaker 5: You know, he wasn't a star player, but six men
12:35
Speaker 5: at best, I think. Yeah. So at that point in time,
12:39
Speaker 5: NBA players, you know, they weren't making tremendous amounts of
12:43
Speaker 5: money and good income for that time frame, but nothing.
12:47
Speaker 5: How we know now one hundred million dollar contract stuff
12:49
Speaker 5: like that. It wasn't making that. So he actually reached
12:53
Speaker 5: his peak salary of three hundred and fifty thousand in
12:56
Speaker 5: nineteen eighty five. Right, So he's an interested person because
13:00
Speaker 5: a lot of times we talk about athletes and entertainers
13:02
Speaker 5: and how they make bad decisions with their money and
13:04
Speaker 5: they make a lot of money and then when they retire,
13:06
Speaker 5: they broke, they have to file for bankruptcy. So he
13:10
Speaker 5: as I said, you know, mid level player. He made
13:12
Speaker 5: decent money, but not a tremendous amount of money. So
13:16
Speaker 5: towards the tail end of his career, he starts planning
13:20
Speaker 5: for his future outside of basketball, right, because he knows
13:24
Speaker 5: that basketball is only going to last so long and
13:26
Speaker 5: it's going to run up eventually.
13:27
Speaker 3: He started starting not schedule in nineteen eighty five, so
13:31
Speaker 3: he was making three hundred and fifty thousand, but in
13:33
Speaker 3: the off seasons, he started a job like he was
13:35
Speaker 3: selling life insurance.
13:36
Speaker 4: Like most people think, like NBA player, like, what is
13:39
Speaker 4: he doing? Like he had to earn more income.
13:42
Speaker 5: Yeah, so he starts, so he gets introduced to the
13:44
Speaker 5: franchise game, right, fast through franchises, and he starts to
13:52
Speaker 5: study franchises in the off season, and he actually starts
13:59
Speaker 5: to work at a local Windy's. And this is interesting, right,
14:02
Speaker 5: So he starts to work at a local Windy's in
14:05
Speaker 5: the offseason. So at the time, it's kind of a
14:10
Speaker 5: weird situation because you have an NBA basketball player who's
14:13
Speaker 5: working in Windy's, right. But he didn't work in Windy's
14:15
Speaker 5: obviously because he needed the money. He worked in Wendy's
14:17
Speaker 5: because his plan was to buy a Windy's franchise and
14:20
Speaker 5: he wanted to learn that in the workings and the
14:22
Speaker 5: culture of the actual business. So he's figured what better
14:25
Speaker 5: way to learn about it than to actually work in
14:28
Speaker 5: the franchise, I think, or something like that. So he
14:30
Speaker 5: starts to work in Windy's. By Tommy retires, he has
14:35
Speaker 5: three Windys franchises. Right. In the next fifteen years, he
14:41
Speaker 5: turns those three Windy's franchises into one hundred and sixty
14:47
Speaker 5: Windys franchises and also one hundred and twenty Chiles franchises,
14:52
Speaker 5: So he had one hundred and sixty Windy's franchises, which
14:55
Speaker 5: made him the second largest franchisee holder for Wendy's in
15:02
Speaker 5: the world, No. In America, in the world. He owned
15:04
Speaker 5: the second amount, the second largest amount of Windy's in
15:08
Speaker 5: the world out of anybody. He also brought in another legend, well,
15:15
Speaker 5: an NBA legend, Chauncey billups to twenty thirteen, two thouand thirteen.
15:20
Speaker 3: Chauncey's at the tail end of his career but wants
15:22
Speaker 3: to go into the entrepreneur world and knows about bridgement,
15:27
Speaker 3: and he says, can you help me?
15:29
Speaker 5: Yeah, So him and Chauncey by thirty Wendy's.
15:33
Speaker 4: But not just thirty.
15:35
Speaker 3: So like they buy thirty Wendy's in the Saint Louis area,
15:38
Speaker 3: which pretty much is every Wendy's in Saint Louis. They
15:42
Speaker 3: buy in every restaurant in the city of Saint Louis.
15:46
Speaker 3: That's pretty remarkable.
15:47
Speaker 5: Yeah, So he ends up his last his biggest salary
15:52
Speaker 5: was still on your fifty thousand, right. He ends up
15:54
Speaker 5: owning one hundred and sixty Windy's, He one hundred and
15:58
Speaker 5: twenty Chilis, and he amasses a network for four hundred
16:02
Speaker 5: million in the process. But that's not the end of
16:05
Speaker 5: the story.
16:06
Speaker 3: No story gets better. So we're gonna go from city
16:09
Speaker 3: Saint Louis. In twenty sixteen, he wants to go bigger,
16:13
Speaker 3: bigger vision, so you know, he decides that he's gonna
16:17
Speaker 3: look into Coca Cola, and twenty sixteen he buys a company.
16:21
Speaker 3: He starts with a company Heartland Coca Cola Bottling, and
16:24
Speaker 3: that takes over the region of the midwest of Missouri, Kansas, Nebraska,
16:28
Speaker 3: and he becomes a distributor for Coca Cola in that region, right,
16:32
Speaker 3: and that gross is even more money.
16:34
Speaker 4: Okay, story doesn't that in there though.
16:37
Speaker 3: After that, he partners with a gentleman in Canada to
16:42
Speaker 3: take over Coca Cola Canada. So he went from Saint
16:46
Speaker 3: Louis to city to taking over Midwest region of distributing
16:51
Speaker 3: to taking over the country of Canada's bottling and distributing
16:55
Speaker 3: for Coca Cola.
16:56
Speaker 5: So he sells his win these franchises, right and buys
17:00
Speaker 5: Coca Cola distribution centers right in Canada, well in the Midwest.
17:07
Speaker 4: I think he has eighteen in Missouri, Kansas, Nebraska.
17:10
Speaker 3: And then from there he takes over the entire distribution
17:15
Speaker 3: facilities for Canada, which is crazy. And then right now
17:19
Speaker 3: like present day, I think he's in talk he might
17:22
Speaker 3: be the front runner to buy Sports Illustrated, Like it's
17:24
Speaker 3: off his heal. I think he him and Dan Gilbert,
17:27
Speaker 3: who is the owner of the Cleveland Paths, are like
17:29
Speaker 3: the finalists to buy the company. And he's leading Canada
17:33
Speaker 3: to buy Sports Illustrated, a magazine he probably hasn't been
17:36
Speaker 3: in but since maybe the eighties.
17:39
Speaker 5: So okay. So I heard Dane Dadd say something a
17:42
Speaker 5: few weeks ago. He said, y'all, y'all sell records. I
17:45
Speaker 5: sell companies, right, And that's kind of what we spoke
17:47
Speaker 5: about even with Snapchat as far as a lot of
17:51
Speaker 5: times in business, part of business is building a legacy,
17:54
Speaker 5: building a company and keeping it. But another part of
17:57
Speaker 5: it is building it and selling it and then moving
18:00
Speaker 5: on to the next thing. Right. So that's pretty much
18:04
Speaker 5: what he did. What he's doing, right, He's constantly moving
18:08
Speaker 5: up the ladder by leveraging his businesses. He's building businesses
18:14
Speaker 5: and then he's selling businesses. And another thing, it's interesting
18:17
Speaker 5: a boy his stories. A lot of time people, you know,
18:19
Speaker 5: they ask how do you become an entrepreneur? How do
18:22
Speaker 5: you start a business? You don't always necessarily have to
18:24
Speaker 5: start a business to be a business owner or to
18:25
Speaker 5: be an entrepreneur. Right, So he's an entrepreneur, he's a
18:27
Speaker 5: business owner, but it's not he doesn't own Wendy's, but
18:30
Speaker 5: he owns He owned a lot of them. He owns,
18:33
Speaker 5: you know, Coca Cola in a sense by owning different
18:36
Speaker 5: centers and distribution. It's not his company, but that's another
18:40
Speaker 5: way to go about it as well. Franchise's owning franchises.
18:44
Speaker 5: You know, lebron owns some Blaze pizzas. So we've seen
18:48
Speaker 5: this play before and that's one of the good things
18:51
Speaker 5: with you know, buying into an established business already is
18:54
Speaker 5: that you're not reinventing the wheel, right. They have a
18:56
Speaker 5: set formula in place, So that's another avenue, you know,
19:01
Speaker 5: if somebody is looking to get into business but they
19:04
Speaker 5: don't necessarily want to start everything from the ground up.
19:09
Speaker 5: It's good exactly and like he's.
19:11
Speaker 4: Like it's a play on words, but like hes.
19:14
Speaker 3: This episode is brought to you by P and C Bank.
19:17
Speaker 3: A lot of people think podcasts about work are boring,
19:20
Speaker 3: and sure they definitely can be, but understanding a professionals
19:24
Speaker 3: routine shows us how they achieve their success little by little,
19:28
Speaker 3: day after day. It's like banking with P and C Bank.
19:32
Speaker 3: It might seem boring to safe plan and make calculated
19:34
Speaker 3: decisions with your bank, but keeping your money boring is
19:38
Speaker 3: what helps you live or more happily fulfilled life. P
19:41
Speaker 3: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
19:46
Speaker 3: Boring since eighteen sixty five is a service mark of
19:49
Speaker 3: the PNC Financial Service Group, Inc. P and C Bank
19:52
Speaker 3: National Association Member FDIC.
19:58
Speaker 4: Ernest What's up?
19:58
Speaker 3: You ever walk into a small business and everything just
20:01
Speaker 3: works like the checkout is fast, the receipts are digital,
20:05
Speaker 3: tipping is a breeze, and you're out the door before
20:08
Speaker 3: the line even builds Odds are they're using Square. We
20:12
Speaker 3: love supporting businesses that run on Square because it just
20:15
Speaker 3: feels seamless. Whether it's a local coffee shop, a vendor
20:18
Speaker 3: at a pop up market, or even one of our
20:20
Speaker 3: merch partners. Square makes it easy for them to take payments,
20:24
Speaker 3: manage inventory, and run their business with confidence, all from
20:28
Speaker 3: one simple system. If you're a business owner or even
20:31
Speaker 3: just thinking about launching something soon, Square is hands down
20:35
Speaker 3: one of the best tools out there to help you start,
20:38
Speaker 3: run and grow. It's not just about payments. It's about
20:41
Speaker 3: giving you time back so you can focus on what
20:44
Speaker 3: matters most Ready. To see how Square can transform your business,
20:48
Speaker 3: visit Square dot com backslash go backslash eyl to learn
20:52
Speaker 3: more that Square dot com backslash, go backslash eyl. Don't wait,
20:58
Speaker 3: don't hesitate. Let Square handle the back end so you
21:01
Speaker 3: can keep pushing your vision forward.
21:05
Speaker 6: You just realized your business needed to hire someone yesterday.
21:09
Speaker 6: How can you find amazing candidates fast? Easy? Just use
21:14
Speaker 6: Indeed stop struggling to get your job posts seen on
21:17
Speaker 6: other job sites. With Indeed sponsored jobs, your post jumps
21:21
Speaker 6: to the top of the page for your relevant candidates,
21:24
Speaker 6: so you can reach the people you want faster. According
21:27
Speaker 6: to Indeed data, sponsored jobs posted directly on Indeed have
21:30
Speaker 6: forty five percent more applications than non sponsored jobs. Don't
21:35
Speaker 6: wait any longer, speed up your hiring right now with Indeed,
21:39
Speaker 6: and listeners of this show will get a seventy five
21:41
Speaker 6: dollars sponsored job credit to get your jobs more visibility
21:44
Speaker 6: at indeed dot com slash pod katz thirteen. Just go
21:50
Speaker 6: to Indeed dot com slash pod Katz thirteen right now
21:55
Speaker 6: and support our show by saying you heard about Indeed
21:58
Speaker 6: on this podcast terms into is applying hiring Indeed.
22:02
Speaker 3: Is all you need is a real franchise player, right,
22:05
Speaker 3: Like he owns a bunch of franchises and sells them.
22:08
Speaker 3: But like in our world, in sports world, franchise player
22:11
Speaker 3: is the most dominant and the best player on the team.
22:14
Speaker 4: But like this guy has another player on it, Like
22:17
Speaker 4: he is.
22:17
Speaker 5: A franchise and he's somebody that you probably I'm almost
22:20
Speaker 5: sure that nobody's heard of him.
22:22
Speaker 3: I mean, but even that franchise you remember, like early
22:25
Speaker 3: maybe mid two thousands, like we sat down and we
22:29
Speaker 3: were trying to like get money together to get a franchise,
22:32
Speaker 3: and it was like this ice cream company that no
22:34
Speaker 3: one quite heard of, and then like.
22:36
Speaker 4: Two years later that becomes Coldstone.
22:38
Speaker 3: Like so we had that vision and yeah, sometimes it
22:40
Speaker 3: doesn't work, but that doesn't mean you stop, Like let's
22:43
Speaker 3: start a new vision.
22:44
Speaker 5: And even Rick Ross, right, we look at we look
22:45
Speaker 5: at somebody like Rick Ross, who and I made a
22:48
Speaker 5: post about that as far as like the importance of
22:50
Speaker 5: family business where he owns I don't know how many,
22:52
Speaker 5: but he owns a lot of wing stops and he
22:55
Speaker 5: also owns checkers now and his family, his sister and
22:59
Speaker 5: his mom, they helped run a lot of the locations.
23:03
Speaker 5: So that's somebody else.
23:05
Speaker 4: Who's just not saying it themeing Lemon Pepper for no reason.
23:07
Speaker 5: Right. That was Wings in his cillar, right, and he's
23:11
Speaker 5: not you know, he could have opened his own restaurant,
23:13
Speaker 5: but he chose to go with an established line that
23:16
Speaker 5: he believed in that he already was eating on a
23:19
Speaker 5: regular fasis and it's not wrong with that. A lot
23:21
Speaker 5: of times, you know, we look at it like if
23:22
Speaker 5: it's not one hundred percent something that we started ourselves,
23:25
Speaker 5: we have to get out of that mindset, because collaboration
23:29
Speaker 5: works in a lot of different ways, right, So you
23:31
Speaker 5: can collaborate with somebody you know, or you can collaborate
23:33
Speaker 5: with somebody that you don't know, But if it's mutually beneficial,
23:37
Speaker 5: that's what business comes down to. So you don't have
23:39
Speaker 5: to do everything yourself. And we could break that down
23:42
Speaker 5: on a micro level as far as just you know,
23:44
Speaker 5: having business partners or you know, a lot of times
23:47
Speaker 5: you feel like you have to do every single thing yourself,
23:49
Speaker 5: or you have to have a complete control of the situation,
23:51
Speaker 5: and that's not always beneficial. You know, you can learn
23:56
Speaker 5: from other people's success and you can duplicate their success.
24:00
Speaker 5: There's nothing new under the sun. So it's important not
24:03
Speaker 5: to feel ashamed or embarrassed if you're not actually starting
24:07
Speaker 5: the idea yourself, because it can still be successful. You
24:09
Speaker 5: can still make a lot of money, you can still
24:11
Speaker 5: employ people, you can still be beneficial and do good things.
24:13
Speaker 3: And there's valuable lessons like when he originally started doing
24:16
Speaker 3: the Windy's and working and their customers were coming in
24:18
Speaker 3: and laughing like this is an NBA player, this is
24:21
Speaker 3: what hes succumbed to, but not realizing like his vision
24:24
Speaker 3: is long term, like I'm gonna turn.
24:25
Speaker 4: This and now you're in the store that I own.
24:27
Speaker 5: How many of his people that he was playing with
24:30
Speaker 5: on the off season was going out partying, blowing their
24:33
Speaker 5: money and probably laughing at him as well, right and
24:37
Speaker 5: now looking so the league gratification is another another thing
24:41
Speaker 5: as well.
24:41
Speaker 3: They're probably drinking the products that he's bowing, which is
24:45
Speaker 3: that's kind of crazy man.
24:46
Speaker 5: All right, Okay, so yeah, that's that's that's interesting. That's
24:49
Speaker 5: an interesting examined nation of an entrepreneur. So we want
24:56
Speaker 5: to jump into the political realm a little bit.
24:59
Speaker 3: Yeah, we had an interest in a few weeks and
25:04
Speaker 3: one in particular, Cory Booker has announced that he's running
25:09
Speaker 3: for president.
25:09
Speaker 4: For those who are not familiar, Correy Booker was the
25:12
Speaker 4: mayor of the city of Newark.
25:14
Speaker 3: He is now a senator in New Jersey and he
25:18
Speaker 3: has fought for criminal justice reform, he's fought for housing reform,
25:24
Speaker 3: and he's had some some pretty interesting ideas, and we're
25:28
Speaker 3: gonna touch on one of those ideas.
25:30
Speaker 5: Corey Brooker is interesting for a few different reasons. But
25:33
Speaker 5: you know, he used to live in the projects when
25:35
Speaker 5: he was the mayor of Newark by choice for like
25:37
Speaker 5: a year.
25:37
Speaker 4: Yeah, by choice, Yeah.
25:39
Speaker 3: Yeah, if anybody like he has an interesting story on
25:43
Speaker 3: If anybody's ever watched Netflix Explain the Racial Wealth Gap,
25:46
Speaker 3: I think it is the last episode of season one,
25:48
Speaker 3: and he tells a story about how his family came
25:50
Speaker 3: into wealth and.
25:51
Speaker 4: The importance of owning homes, which is why he fights
25:54
Speaker 4: for it. But by choice, he.
25:58
Speaker 5: And one of the worst projects, yeah Newark, in Newark,
26:01
Speaker 5: and he lived there for a year, so some people
26:04
Speaker 5: called it a gimmick, but he still live.
26:06
Speaker 3: There, like right now, he said he lives in a
26:09
Speaker 3: basement in d C. Like, yeah, he owns a home
26:11
Speaker 3: in Newark, but he's humbled themselfing like listen, man, I
26:14
Speaker 3: have a landlord in DC.
26:16
Speaker 4: Like that's just how I'm living right now. I'm a
26:18
Speaker 4: single man.
26:18
Speaker 5: Remember when Mark Zuckerberg gave Newark one hundred million dollars
26:22
Speaker 5: for the school district? Whatever? What happened with that?
26:25
Speaker 4: Who's the man?
26:27
Speaker 5: Baraka? Now?
26:29
Speaker 3: I think that you know what they they they did invested,
26:31
Speaker 3: they had new it was for education, right, yeah, yeah,
26:35
Speaker 3: they built some some some some pretty decent academies in Newark,
26:40
Speaker 3: and he was on the Breads Club speaking about some
26:43
Speaker 3: of the growth they've seen, okay with these students, So we.
26:46
Speaker 4: Can't just dismiss I was just wondering what happened. But
26:49
Speaker 4: it was Devin and Christie at the time. Yeah, Chris, okay, Yeah, but.
26:52
Speaker 5: No, I wasn't dismissing it. I was just I just
26:54
Speaker 5: I didn't hear anything since that had happened. I think
26:56
Speaker 5: it happened on Oprah. But yeah, So Corey buckets into
27:00
Speaker 5: for a few different reasons. But one of the things
27:03
Speaker 5: that so okay, he announced that he's running for president, right,
27:06
Speaker 5: so you know, when you announce your running for president anything,
27:09
Speaker 5: you start to say different things that you want to do,
27:11
Speaker 5: you want to implement stuff like that which you're running
27:14
Speaker 5: on your platform. So we talked about the racial wealth
27:17
Speaker 5: gap in this country and how disturbing it is, right
27:22
Speaker 5: I think, on episode two. So now it's interesting to
27:27
Speaker 5: see because some of the candidates are proposing different ways
27:31
Speaker 5: to kind of bridge that right into to lesson that
27:36
Speaker 5: the racial wealth gap. So he has an interesting idea,
27:39
Speaker 5: and his idea is for baby bonds, so he wants
27:43
Speaker 5: every baby so right now, right now, we talked about
27:47
Speaker 5: the racial wealth gap for adult families, right and all
27:51
Speaker 5: the top of my head, I think it was like
27:53
Speaker 5: the average black family has a net worth of seventeen
27:56
Speaker 5: hundred and the average white family has a networth of
27:59
Speaker 5: one hundred in sixteen thousand.
28:01
Speaker 3: Well, he was on the Breakfast Club, I think maybe
28:03
Speaker 3: like this week, and he went further on to that
28:06
Speaker 3: Bostonian article we were talking about where the average white
28:09
Speaker 3: family in Boston is a network the worth is two
28:12
Speaker 3: undred and fifty thousand.
28:14
Speaker 4: And the average black family is eight.
28:16
Speaker 5: Dollars in Boston in Boston, eight dollars, eight dollars yep, yes,
28:22
Speaker 5: eight dollars, ladies and gentlemen.
28:24
Speaker 4: Yeah, let that sit in for two seconds.
28:25
Speaker 5: So all right, so he had even So now was
28:29
Speaker 5: even interesting when I was reading an article that he's
28:32
Speaker 5: proposing the baby bonds. That so the wealth the networth
28:36
Speaker 5: for young people. So eighteen to twenty five, the average
28:41
Speaker 5: white person's networth is forty six thousand dollars, and the
28:45
Speaker 5: networth for young people eighteen to twenty five, average black
28:49
Speaker 5: person's networth is twenty nine hundred dollars.
28:51
Speaker 4: Yeah, we spoke about networth.
28:52
Speaker 5: No, we did speak about it, but we spoke about
28:54
Speaker 5: it for families, but not. So it's actually that's actually
28:57
Speaker 5: shocking to me because I don't I knew very few
29:01
Speaker 5: people twenty five and under that had networths of forty
29:05
Speaker 5: six thousand dollars.
29:07
Speaker 4: No, I didn't either.
29:08
Speaker 5: So but this and that's the average network for a
29:12
Speaker 5: white person eighteen to twenty five. So what happens is
29:14
Speaker 5: that the white person's networth families, it actually increases right
29:18
Speaker 5: as they get older. But the black if you notice,
29:21
Speaker 5: the black network actually decreases because the black family's networth
29:25
Speaker 5: is seventeen hundred. But the average black young person's networth
29:28
Speaker 5: is twenty nine hundred, so it actually goes down, so
29:30
Speaker 5: it gets worse as you get older.
29:31
Speaker 3: This is one thing that we know about wealth, that
29:33
Speaker 3: is it's going to be true. Wealth grows and grows
29:36
Speaker 3: and grows. Right, being rich, you could make some mistakes
29:39
Speaker 3: and that they'll take you out of that carriage, but
29:41
Speaker 3: wealth will continue to grow.
29:43
Speaker 4: Right.
29:44
Speaker 5: So what he wants to do is have a thousand
29:47
Speaker 5: dollars baby bonds, So every baby that's born into America,
29:49
Speaker 5: every single baby, gets one thousand dollars on the born right,
29:53
Speaker 5: and then it's depending on your income. So if your
29:57
Speaker 5: family makes under one hundred, if your family makes under
30:00
Speaker 5: one hundred and twenty six thousand dollars a year, you
30:02
Speaker 5: will get up to two thousand dollars added to that
30:05
Speaker 5: bond every year until the child turns eighteen.
30:09
Speaker 3: It's so the account is a savings account that's going
30:12
Speaker 3: to be managed by the treasury.
30:13
Speaker 5: Right treasures earning three percent?
30:15
Speaker 3: Yeah, so you're right, so like they project if it
30:19
Speaker 3: does three percent, but it's so if at that rate,
30:22
Speaker 3: if somebody's family income up is over one hundred and
30:25
Speaker 3: twenty five, they don't get anything.
30:26
Speaker 5: No, that's what saying, Yeah, no, you get a thousand
30:28
Speaker 5: dollars and you're born. When you're born, right after that,
30:30
Speaker 5: you don't get anything, right exactly, And even the two
30:33
Speaker 5: thousand dollars is the most that you can get. Yeah,
30:35
Speaker 5: So it's like a sliding scale. So if you make
30:36
Speaker 5: one hundred thousand, then you might get five hundred dollars, right,
30:41
Speaker 5: but if you're below the poverty line, then the most
30:43
Speaker 5: you can get is two thousand. The child's the.
30:46
Speaker 3: Federal poverty line, I believe it's twenty five thousand. It's
30:50
Speaker 3: like that family, that family afford that they stay at
30:53
Speaker 3: that rate. By the time the child has gotten to eighteen,
30:58
Speaker 3: then I think it's like forty.
31:00
Speaker 5: So what happens is that? So right? So, right now,
31:02
Speaker 5: the wealth gap between young people whites and blacks, it's
31:07
Speaker 5: sixteen times. So young people have sixteen times the net
31:11
Speaker 5: worth of black young people. So what this new proposal
31:15
Speaker 5: will do will actually lessen that to one to four.
31:19
Speaker 5: So it's still not equal, but it'll have the average
31:23
Speaker 5: white person's networth will be seventy niney eighteen to twenty five,
31:28
Speaker 5: and the average black person's network eighteen to twenty five
31:31
Speaker 5: will be fifty seven thousand. So what they're saying is
31:36
Speaker 5: that this can actually change the course of the wealth
31:42
Speaker 5: gap and almost erase it within a generation. Right. The
31:46
Speaker 5: thing about it too is that so people actually talk
31:49
Speaker 5: about reparations, So this it plays in line with reparations,
31:54
Speaker 5: because it's been proven that the easiest way to do
31:58
Speaker 5: it would be through reparation. Right, reparations is to give
32:03
Speaker 5: Black people, give Spanish people, just give them money, right,
32:06
Speaker 5: But obviously politically that's very hard to get through.
32:11
Speaker 4: Right.
32:11
Speaker 5: So this is a way of reparations. But it's not
32:15
Speaker 5: race based, right, because everybody is for everybody, But since
32:21
Speaker 5: proportionally Black and Latino families are more impovished than white families,
32:29
Speaker 5: even though it's for everybody, it will proportionally affect Black
32:33
Speaker 5: and Latino families at a higher rate.
32:35
Speaker 3: It's like when he did prison reform, right, Like he
32:38
Speaker 3: changes laws for imprisonment, right, and it's for everybody, but
32:44
Speaker 3: it proportionally helps people of color because they're the ones
32:49
Speaker 3: who suffer more.
32:50
Speaker 5: Right. So this is an interesting take on the reparations
32:54
Speaker 5: argument because, as I said, it's not something that you're
32:59
Speaker 5: just giving to one group of people. You're actually giving
33:01
Speaker 5: it to everybody. But it's going to affect one or
33:04
Speaker 5: two groups of people a lot more. Now, the thing
33:06
Speaker 5: about it is that it's only going to be for
33:08
Speaker 5: young people, for people that.
33:09
Speaker 4: Are born right now, they're still trying to right now.
33:11
Speaker 5: Yeah, so it won't affect like adults or even you know,
33:15
Speaker 5: teenagers or whatever. It'll be. So you'll have to wait
33:18
Speaker 5: a generation before they actually see the effects of it.
33:21
Speaker 5: And another interesting thing is to see, you know, education.
33:26
Speaker 5: That thing has to be tied into it as well,
33:27
Speaker 5: because okay, it's great to have I think the idea
33:30
Speaker 5: is a good idea. But if somebody turns eighteen and
33:33
Speaker 5: they have forty thousand dollars and now they have access
33:36
Speaker 5: to that, right, we don't want them just to spend it.
33:41
Speaker 4: So that's one of the things. So, like we's explained,
33:44
Speaker 4: it's a four step program.
33:45
Speaker 3: So we pretty much explained the first three steps or
33:47
Speaker 3: step one was you get there thousand dollars.
33:49
Speaker 4: The Treasury takes it into your account.
33:51
Speaker 3: Step two is through the tax code, children will receive
33:54
Speaker 3: two thousand based on the income of the family. Third
33:56
Speaker 3: one is the fund sits there in account three percent
33:59
Speaker 3: hopefully annually. And that fourth step is that the account
34:01
Speaker 3: holder can't access it until they're eighteen, and it has.
34:05
Speaker 4: To be for a usable reason.
34:07
Speaker 3: It has to be for education, or it has to
34:09
Speaker 3: be for the purchase of a home, or if they
34:11
Speaker 3: keep it there, it could be for retirement later on.
34:14
Speaker 4: So they have to have specific reasons why they're taking off.
34:17
Speaker 5: They just they just can't take it off take it out.
34:18
Speaker 3: Yeah, So I think, I mean, I think it's a
34:20
Speaker 3: great idea, But this is this is not the first
34:22
Speaker 3: time we've seen an idea like this.
34:23
Speaker 4: No. Hillary Clinton, she tried it and then like as
34:26
Speaker 4: soon as her campaign got.
34:27
Speaker 5: No, it was like, let's little known fact, Hillary Clint
34:31
Speaker 5: in two thousand and five, I think two thousand seven,
34:35
Speaker 5: I think when she was running the first time.
34:36
Speaker 4: Yeah, she that was proposal.
34:39
Speaker 5: No, it was and they quickly scrapped it quickly.
34:43
Speaker 4: Tony Blair tried this and.
34:45
Speaker 5: Tony Blair actually implemented.
34:47
Speaker 4: It, and yes, as soon as he left office, scrapped done.
34:51
Speaker 5: With Conservative Party. Okay, so the UK. Tony Blair was
34:53
Speaker 5: the Prime Minister of the UK. So reparate. When we
34:56
Speaker 5: talk about reparations, this isn't something that a lot of
35:01
Speaker 5: times people don't fully understand the concept of reparations, right,
35:05
Speaker 5: other people have been given reparations, right, We've seen We've
35:11
Speaker 5: seen Japanese Americans get reparations from Ronald Reagan. We've seen
35:17
Speaker 5: Jewish people get reparations from the Holocaust. It's something that
35:22
Speaker 5: politically is not as far fetched as it's made out
35:26
Speaker 5: to be. Right, and people realize that, as I said before,
35:29
Speaker 5: the racial wealth gap is something that if anybody's intelligent,
35:32
Speaker 5: they understand that that is it's a problem, and it's
35:35
Speaker 5: not something that just affects only black people. It spills over.
35:38
Speaker 5: So it's in everybody's interest to try to fix the problem.
35:41
Speaker 5: And this is a worldwide problem. So when Tony Blair
35:44
Speaker 5: implements it in Britain and then the Conservative Party comes
35:49
Speaker 5: and they just eliminate it because they say, now it's
35:51
Speaker 5: like welfare and you're giving you know, poor people just
35:54
Speaker 5: you know that that's something that is done out of ignorance, right,
35:59
Speaker 5: Because if the goal is to actually make up for
36:07
Speaker 5: things that were done in the past that have systematically
36:11
Speaker 5: hold people that, then the only way to really reverse
36:14
Speaker 5: that is to have a systematic thing put in place
36:17
Speaker 5: to help those people. It's not out of charity, it's
36:21
Speaker 5: just the right thing to do, right, So Yeah, so
36:23
Speaker 5: we have seen this before and it's not as far
36:27
Speaker 5: af fetched as people think because it was put in
36:30
Speaker 5: place in the UK even though it was reversed, and
36:35
Speaker 5: Hillary Clinton, who had a very good chance of actually
36:38
Speaker 5: becoming president, had it as one of her campaign points,
36:43
Speaker 5: even though she quickly scratched it. So we'll see where
36:47
Speaker 5: this reparation argument goes. Because there's another candidate. I believe
36:52
Speaker 5: that she wants to actually do reparations different So everybody
36:57
Speaker 5: has different ways about it how they want to do it.
36:59
Speaker 5: But I think the baby by ideas interesting at least
37:03
Speaker 5: it is interesting.
37:04
Speaker 3: Because it it really is about equity, right, So everybody
37:08
Speaker 3: starts at the playing field, and as you'll see it,
37:11
Speaker 3: like the people who needed more will.
37:13
Speaker 5: Be so that the argument will be like who, how
37:14
Speaker 5: do you pay for it? Where's the money coming from?
37:17
Speaker 5: The right, that would be the argument, because I mean,
37:20
Speaker 5: I don't think anybody would be opposed to people, you know,
37:23
Speaker 5: babies getting money, But where's this money coming. That's a
37:25
Speaker 5: lot of money. You get every baby a thousand dollars.
37:29
Speaker 4: And then it'll come into it.
37:30
Speaker 3: Well, if their parents aren't citizens, is that how do
37:33
Speaker 3: they get to There's a lot of issues there.
37:36
Speaker 5: It's a lot of issues that can be raised.
37:38
Speaker 4: But the idea, I think it's great.
37:39
Speaker 5: No, it's a great idea on surface. So we'll see.
37:42
Speaker 5: Like I said, the political environment is very interesting right now.
37:48
Speaker 5: You know a lot of people are running for president
37:50
Speaker 5: that are announcing that they're running for president. We have
37:52
Speaker 5: a black female and announced. We have Corey Bookers, black
37:57
Speaker 5: male that announced, and you know, I'm sure as the
38:01
Speaker 5: weeks some fall, we'll be having more and more people
38:04
Speaker 5: from the Democratic Party and Independent Party that will announced
38:07
Speaker 5: that their run for president. Then of course you have
38:09
Speaker 5: the current president, Donald Trump, who I'm pretty sure he
38:12
Speaker 5: will be seeking re election, so we'll be it'll be
38:16
Speaker 5: interesting to see. But economic definitely plays a major part
38:20
Speaker 5: in the political game. So that's the thing too. We
38:23
Speaker 5: can't separate the two right. A lot of times people
38:25
Speaker 5: you know, we say, okay, well I'm not voting. If
38:28
Speaker 5: you decide to vote or not, that's your personal decision.
38:30
Speaker 5: But we can't just say I just want to focus
38:34
Speaker 5: on economics and not politics, or I want to focus
38:36
Speaker 5: on politics and not economics. They go hand in hand
38:39
Speaker 5: economic empowerment, it is political empowerment. You can't you can't
38:44
Speaker 5: separate the too. All right, okay, final words.
38:49
Speaker 3: Yeah, so we spoke about Corey Booker and what he's
38:53
Speaker 3: done for obviously the school to prison pipeline system, racism
39:01
Speaker 3: when it comes to terms of imprisonment, and in immigration,
39:06
Speaker 3: and what we've seen in the past couple of weeks,
39:09
Speaker 3: maybe last week, we saw Meek Mill and Michael Rubin
39:12
Speaker 3: and Robert Craft and Jay Z create reform, which is
39:16
Speaker 3: great for criminal justice, and within that week we also
39:20
Speaker 3: see a young black male be picked up by Ice
39:24
Speaker 3: for immigration, and it'll be interesting to see how this
39:29
Speaker 3: plays out. But I know that, you know, they're putting
39:31
Speaker 3: some support behind him, twenty one Savage, so we'll see
39:35
Speaker 3: that maybe you know, this case may spark some immigration reform,
39:40
Speaker 3: so they'll be interesting to see. So, I mean, it's
39:43
Speaker 3: unfortunate that this happened. I know, he has a family
39:45
Speaker 3: three about three kids, and he's I think he filed.
39:49
Speaker 4: For citizenship and saying like four years. So I'm it's
39:55
Speaker 4: just unfortunate.
39:56
Speaker 3: So hopefully, you know, reform started the criminal justice and
40:01
Speaker 3: hopefully we'll see something that happens to immigration as well.
40:05
Speaker 5: Yeah, yeah, we'll see, we'll see. All right, all right, guys,
40:09
Speaker 5: So once again, thank you for rocking with us. We
40:12
Speaker 5: will see you guys next week. Yeah man peace.
40:15
Speaker 4: Yeah, we give you the game.
40:16
Speaker 3: Now you gotta go out to your neighborhood and give
40:18
Speaker 3: it right back. Psychondric said, that's a fact.
40:47
Speaker 6: You just realized your business needed to hire someone yesterday.
40:51
Speaker 6: How can you find amazing candidates fast? Easy? Just use Indeed.
40:57
Speaker 6: Stop struggling to get your job post seen on other
40:59
Speaker 6: jobs sites. With Indeed sponsored jobs, your post jumps to
41:03
Speaker 6: the top of the page for your relevant candidates, so
41:06
Speaker 6: you can reach the people you want faster. According to
41:09
Speaker 6: Indeed data, sponsored jobs posted directly on Indeed have forty
41:13
Speaker 6: five percent more applications than non sponsored jobs. Don't wait
41:17
Speaker 6: any longer. Speed up your hiring right now with Indeed,
41:21
Speaker 6: and listeners of this show will get a seventy five
41:23
Speaker 6: dollars sponsored job credit to get your jobs more visibility
41:26
Speaker 6: at indeed dot com slash pod katz thirteen. Just go
41:32
Speaker 6: to Indeed dot com slash pod katz thirteen right now
41:37
Speaker 6: and support our show by saying you heard about Indeed
41:40
Speaker 6: on this podcast. Terms and conditions apply. Hiring Indeed is
41:44
Speaker 6: all you need