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Cliff Notes: Big Money Real Estate, TikTok's Future, & ChatGPT · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: Do you think the sixty forty let's say stock real
• 1:03
  Speaker 3: estate portfolio is going to be the new sixty forty
• 1:06
  Speaker 3: stock versus bond because the bomb market has blown up
• 1:09
  Speaker 3: the last two years and I mean, I'm shocked. Can
• 1:12
  Speaker 3: you tell me why. I know a lot of international
• 1:15
  Speaker 3: companies pour their money out of our bonds, but I
• 1:18
  Speaker 3: never thought obviously the bomb market's flaps this fast. Do
• 1:21
  Speaker 3: you think that sixty forty real estate and stocks will
• 1:24
  Speaker 3: be the new replacement for the next twenty to thirty years.
• 1:27
  Speaker 4: You know, real estate's one of those finite resources as well,
• 1:30
  Speaker 4: so it's as much as everybody would love to own.
• 1:32
  Speaker 4: So it's very hard to own real estate and desirable
• 1:35
  Speaker 4: places where you believe the value is going to go up.
• 1:37
  Speaker 4: Now true, I'm obsessed with these like government landwatch, foreclosure
• 1:42
  Speaker 4: auction things that come across the internet all the time.
• 1:45
  Speaker 4: I get a newsletter that and it's trying to sell
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  Speaker 4: me property in places that it's just not viable. So
• 1:50
  Speaker 4: you could be, like, buy a bunch of houses in Arizona.
• 1:53
  Speaker 4: I don't want to pick on Arizona. I'm from New Mexico.
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  Speaker 4: But there might not be any water there in twenty years,
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  Speaker 4: so that's not such a great idea, right or buy
• 2:00
  Speaker 4: You know, you see these houses for sale and Queen's
• 2:02
  Speaker 4: by the Bay, they may not be there in twenty years.
• 2:05
  Speaker 4: I'm sorry, we've already had sandy. We've seen what happens
• 2:08
  Speaker 4: when the water rises Miami. Right, everybody wants to live
• 2:11
  Speaker 4: in Florida until you live in Florida, right, But Miami
• 2:14
  Speaker 4: is having problem. So it depends on where you're buying
• 2:17
  Speaker 4: what you're buying. Now, if you follow the smartest money
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  Speaker 4: in the world in real estate, it's Blackstone right. See
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  Speaker 4: Schwartzman donated the public library, multi billionaire. What is he
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  Speaker 4: buying warehouses? Where's he buying them everywhere he can? Why?
• 2:33
  Speaker 4: What do we use warehouses for data storage? And Amazon storage?
• 2:38
  Speaker 4: When you drive on the highway? What do you see
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  Speaker 4: Amazon trucks when we're doing this? What's going on data storage? Right?
• 2:44
  Speaker 4: So smart real estate is buying things that they can use,
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  Speaker 4: not just buying houses in college towns, which isn't a
• 2:50
  Speaker 4: bad thing to do either. But you got to think
• 2:51
  Speaker 4: about where you're buying and what you're buying.
• 2:54
  Speaker 2: JIP, I wonder from an investment standpoint and from a
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  Speaker 2: professional standpoint, the landscape for what you do. Your thoughts
• 3:01
  Speaker 2: on open AI and chat GBT as far as finding
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  Speaker 2: companies that are leading the advancement in it and you know,
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  Speaker 2: putting money behind it. Because I mean, it's not going anyway,
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  Speaker 2: and it definitely would be part of the future. So
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  Speaker 2: what are your thoughts around it.
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  Speaker 4: Yeah, it's one of those things that chet GPT in
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  Speaker 4: general's kind of scares me. It's either going to be
• 3:21
  Speaker 4: the worst thing that ever happened to Investipedia or the
• 3:24
  Speaker 4: best thing that ever happened to Investipedia. And I'm gonna
• 3:26
  Speaker 4: believe that it's going to be the best thing. Why
• 3:28
  Speaker 4: because even though it's really smart and it could tell
• 3:30
  Speaker 4: you what is pe ratio or what is compounding or
• 3:33
  Speaker 4: how to invest ten thousand bucks, there's nothing like the
• 3:36
  Speaker 4: personal touch rashad. You're in a you're a former advis
• 3:39
  Speaker 4: you're an advisor, you know what that's like. The relationship
• 3:41
  Speaker 4: is everything, and there's a way to speak to people
• 3:43
  Speaker 4: that it will never be able to do, and there's
• 3:45
  Speaker 4: brand authenticity. We've been around twenty three years, hopefully we
• 3:48
  Speaker 4: will be around another twenty three years. So it scares me.
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  Speaker 4: That said, it's also one of those things that I
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  Speaker 4: know it's important. I know it's gonna help a lot
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  Speaker 4: of industries, healthcare, education, finance. I think it's gonna be
• 4:00
  Speaker 4: very useful in all those industries. But you guys know
• 4:03
  Speaker 4: this well, and every era and every few months there
• 4:06
  Speaker 4: is a new thing. And if you change your company
• 4:08
  Speaker 4: name like Block to Square or Square to Block, or
• 4:12
  Speaker 4: it used to be cannabis, or it used to be crypto.
• 4:15
  Speaker 4: If you play AI in your name right now, your
• 4:16
  Speaker 4: stock's going up ten twenty percent. There's a hype around
• 4:19
  Speaker 4: it as well. We haven't exactly seen the practical applications
• 4:22
  Speaker 4: that will be widespread and change markets forever, but they're coming.
• 4:27
  Speaker 4: I just read something by Bill Gates of all people,
• 4:29
  Speaker 4: on his medium jog about why he thinks it's so important,
• 4:33
  Speaker 4: most important, A ton of things I didn't.
• 4:34
  Speaker 5: Know, so we asked some other stuff that he was
• 4:37
  Speaker 5: going to talk about. But Ian, I think, let's let's
• 4:40
  Speaker 5: talk about those. Let's let's let's talk about the same topics,
• 4:43
  Speaker 5: but let's have if you want to stay on? Can
• 4:45
  Speaker 5: you want to stay on?
• 4:46
  Speaker 4: I'd love to If you're having sorry for yes, dominating them?
• 4:50
  Speaker 5: No, no, no, no, I love it. So now we'll just
• 4:52
  Speaker 5: go back to the regular format and then we'll just
• 4:54
  Speaker 5: have everybody chiming, including yourself. So TikTok's current CEO was
• 4:59
  Speaker 5: grilled by Congress last week based on his commentary is
• 5:03
  Speaker 5: it time for America to be in TikTok or did
• 5:07
  Speaker 5: he make a case that the app is safe? So
• 5:09
  Speaker 5: TikTok is on the fire, has been on the fire
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  Speaker 5: for a long time. What is the current, what's your
• 5:14
  Speaker 5: what's your guys thoughts on what happened and the future
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  Speaker 5: of TikTok.
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  Speaker 3: I don't think that the CEO did an amazing job
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  Speaker 3: of giving the lawmakers feeling of safety. I don't think
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  Speaker 3: he came off as a threat. But when the grilling
• 5:34
  Speaker 3: was over and still I don't I don't think anyone
• 5:39
  Speaker 3: came to a conclusion of Okay, we can trust him,
• 5:42
  Speaker 3: we can trust this company. Here are the things they're
• 5:44
  Speaker 3: going to do to mitigate any espionage fear that we
• 5:48
  Speaker 3: may have, like a red down.
• 5:49
  Speaker 5: Kind of event.
• 5:50
  Speaker 3: I think a little bit of the things they are
• 5:53
  Speaker 3: worried about are being done by American companies at scale.
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  Speaker 3: I think that a big tech company maybe pushing lobbyists
• 6:01
  Speaker 3: too to push some of these narratives, how do you
• 6:04
  Speaker 3: guys like to be doing? Like But even though they've
• 6:09
  Speaker 3: been demonized, he didn't do a good enough job to
• 6:12
  Speaker 3: make even American parents be like, Hey, I'm gonna protect
• 6:17
  Speaker 3: your children but here's the funny part. After that, I
• 6:22
  Speaker 3: saw more kids be excited about TikTok and say I'm
• 6:25
  Speaker 3: not going to use Instagram as much as result or
• 6:27
  Speaker 3: it's not going to use the Instagram more.
• 6:30
  Speaker 4: So.
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  Speaker 3: I think this was really Estellemach. I don't think they'll
• 6:33
  Speaker 3: go eventually ban it, even though that's a great talking point.
• 6:36
  Speaker 3: But he didn't do a great enough job to convince us.
• 6:38
  Speaker 2: That he was not a threat to our democracy. This
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• 8:32
  Speaker 2: Agree with you. I don't think he made a case
• 8:35
  Speaker 2: that the app is safe, right, So what's the issue.
• 8:38
  Speaker 2: The issue is saying that TikTok can threat in national
• 8:41
  Speaker 2: security and user privacy and can promote pro Beijing propaganda
• 8:44
  Speaker 2: and misinformation. That's the case, right. His defense was No,
• 8:49
  Speaker 2: he says that the company which they're saying that they
• 8:52
  Speaker 2: have other storage and other data is actually going to
• 8:54
  Speaker 2: be stored in a US user database that is maintained
• 8:58
  Speaker 2: by the giant software company name Oracle American Base.
• 9:01
  Speaker 4: Right.
• 9:02
  Speaker 2: The other part which is interesting, uh, is that during
• 9:06
  Speaker 2: this five hour grilling, he brought up some some pretty uh,
• 9:10
  Speaker 2: pretty big investors that are part of the TikTok investment
• 9:13
  Speaker 2: group that you may have heard us black Rock and
• 9:16
  Speaker 2: Sacoia Capital. And so it's like, when when your backs
• 9:20
  Speaker 2: against the wall and the American government is coming after you,
• 9:24
  Speaker 2: let's remind him who's invested in this company. And so
• 9:29
  Speaker 2: they reached out to black Rock and obviously Seqoia Capital
• 9:31
  Speaker 2: and K and KKR. Nobody had a comment. So do
• 9:35
  Speaker 2: I think he made a case to show that I
• 9:38
  Speaker 2: was safe. No, But he also put out a reminder, Hey,
• 9:43
  Speaker 2: these American companies are also part of this. The other
• 9:45
  Speaker 2: part with that I found this is like the number
• 9:48
  Speaker 2: one deleted app. You know what the number one deleted
• 9:50
  Speaker 2: app is right now, I'd face Instagram Instagram.
• 9:55
  Speaker 5: Yeah.
• 9:56
  Speaker 2: Interestingly enough, most people may ask what is the app
• 9:59
  Speaker 2: that they want to delete? It's it's Instagram, And so
• 10:01
  Speaker 2: it goes it goes into that that level of defiance.
• 10:04
  Speaker 2: What we can't do, we want to do more, And
• 10:07
  Speaker 2: so it makes sense why kids would want to be
• 10:09
  Speaker 2: on something that they're saying that their parents or the
• 10:12
  Speaker 2: older folk are saying you shouldn't use, you shouldn't use. No,
• 10:16
  Speaker 2: this this is ours. It treated like it was the
• 10:18
  Speaker 2: same way when Facebook came out, was like, oh, this
• 10:20
  Speaker 2: is for us. Your parents aren't allowed to be here.
• 10:22
  Speaker 2: So it's interesting. Do I think he made his case?
• 10:25
  Speaker 5: No?
• 10:25
  Speaker 2: Do I think it will be banned. I'm gonna monitor
• 10:30
  Speaker 2: it closely. It's it's it's interesting. It's especially the government
• 10:34
  Speaker 2: when we were talking about by partnership there there's some
• 10:37
  Speaker 2: things that they're never going to agree on. But it
• 10:39
  Speaker 2: felt for that five hours that this is a topic
• 10:42
  Speaker 2: that everybody's on the same page with.
• 10:45
  Speaker 4: Yeah, I think you might be right, And I think
• 10:47
  Speaker 4: what we also learned is how little lawmakers understand modern technology. Yes,
• 10:53
  Speaker 4: that part that was crazy, but that said, remember, uh,
• 10:58
  Speaker 4: you know I'm dating myself, but Napster, right, that was
• 11:02
  Speaker 4: against the industry, and the industry railed against Napster, but
• 11:05
  Speaker 4: Napster found its way, you know, into the people that
• 11:08
  Speaker 4: really wanted it, and then it's spot off all these
• 11:10
  Speaker 4: other things that became the way we stream music ultimately.
• 11:13
  Speaker 3: Apple Music and Spotify.
• 11:15
  Speaker 4: Yeah, exactly. So it's one of those things that may
• 11:17
  Speaker 4: go wonder but it's going to come back as something
• 11:19
  Speaker 4: else because people that like it and people that use it,
• 11:21
  Speaker 4: and creators and tech enthusiasts and really smart people know
• 11:24
  Speaker 4: their way around this. So even it gets banned, people
• 11:27
  Speaker 4: are going to use it right, and then it's going
• 11:29
  Speaker 4: to come up as something else and it's going to
• 11:30
  Speaker 4: be probably even more dangerous. But he didn't convince anybody,
• 11:34
  Speaker 4: and not that anybody would ever believe even if he
• 11:36
  Speaker 4: said to our faces, no, your dad has one hundred
• 11:38
  Speaker 4: percent safe. We're not doing anything with it. Of course
• 11:40
  Speaker 4: they are.
• 11:41
  Speaker 5: Yeah, yeah, I think TikTok is, don't. I don't believe
• 11:46
  Speaker 5: in TikTok.
• 11:48
  Speaker 3: I don't believe though.
• 11:50
  Speaker 5: I don't believe it's as strong as as is made
• 11:52
  Speaker 5: out to be, as the eye test is not. I
• 11:55
  Speaker 5: have a very good post on pop culture current events.
• 12:00
  Speaker 5: And I'm not convinced with TikTok. But social media at
• 12:04
  Speaker 5: I think social media as a whole is kind of
• 12:08
  Speaker 5: falling apart. You can block, you can buy blue checks
• 12:11
  Speaker 5: on Instagram. Now you can buy blue checks.
• 12:13
  Speaker 3: Which is smart for the business.
• 12:16
  Speaker 5: It's bad for the It's bad for the brand. Exclusivity
• 12:21
  Speaker 5: is always is always a major part of any marketing
• 12:24
  Speaker 5: campaign in any type of you know, you want to
• 12:26
  Speaker 5: be in the club that nobody else is in. It's
• 12:29
  Speaker 5: bad for the brand. I think you can't reach your
• 12:33
  Speaker 5: full audience. That's always been an issue. The algorithm, it's
• 12:36
  Speaker 5: so much nonsense. It'll be interesting to see what the
• 12:39
  Speaker 5: next iteration of social communication will be. Maybe it's something
• 12:43
  Speaker 5: with you at GBT, maybe it's something with AI. I
• 12:46
  Speaker 5: think that that it definitely will be in that and
• 12:49
  Speaker 5: I think it's actually smart that Meta at least is
• 12:51
  Speaker 5: trying to try to be the Fourfront. I don't know
• 12:54
  Speaker 5: if they will capture that audience or not, but I
• 12:56
  Speaker 5: think social media it doesn't have too many days left.
• 13:00
  Speaker 5: When I say days, I mean like years, Like you know,
• 13:01
  Speaker 5: they still they're not going to fall apart tomorrow. But
• 13:04
  Speaker 5: I think it's on its downward. Yeah, there's too much
• 13:07
  Speaker 5: nonsense happening on social media period.
• 13:09
  Speaker 4: I got teenagers and for them it's Snap all day long.
• 13:13
  Speaker 5: Yeah, kids is communicating on snap snap. My son doesn't
• 13:17
  Speaker 5: even send regular text messages a Snap group chat. So
• 13:20
  Speaker 5: Snapchat is still very viable. As far as the communication,
• 13:23
  Speaker 5: it's scattered. It's all scattered. They're using Snapchat to communicate,
• 13:27
  Speaker 5: They're using TikTok to find restaurants and recommendations and dances.
• 13:33
  Speaker 5: And then people are on Instagram for their news and
• 13:36
  Speaker 5: celebrity gossip. They're on Twitter. So they're just using different
• 13:39
  Speaker 5: platforms for a variety of different reasons. So social media
• 13:43
  Speaker 5: is and shambles. But we'll see what happens. We'll see
• 13:47
  Speaker 5: what happens. But I'm just not a believer in the
• 13:50
  Speaker 5: long term viability of TikTok. My graduates from my school
• 13:57
  Speaker 5: being forced bad and drop.
• 14:13
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 14:17
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 14:21
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 14:25
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 14:29
  Speaker 1: some of the heinous migrant criminals caught because of President
• 14:33
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 14:37
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 14:42
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 14:45
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 14:49
  Speaker 1: are here illegally, your next you will be fine nearly
• 14:52
  Speaker 1: one thousand dollars a day, imprisoned and deported, you will
• 14:57
  Speaker 1: never return. But if you register using our c MVP
• 15:00
  Speaker 1: home app and leave now, you could be allowed to
• 15:03
  Speaker 1: return legally. Do what's right. Leave now. Under President Trump,
• 15:08
  Speaker 1: America's laws, border and families will be protected.
• 15:11
  Speaker 3: Sponsored by the United States Department of Homeland Security.