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Money & Wealth: Reviving the American Dream w/ Michael Milken · Money And Wealth With John Hope Bryant

• 0:00
  Speaker 1: Peace of the planet, Charlomagne to God. Here.
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  Speaker 2: Before we get into today's episode, we've got to celebrate
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  Speaker 2: the Black Effect Podcast Network.
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  Speaker 1: It's turning five years old.
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  Speaker 2: Man five years a powerful voices, unforgettable moments in a
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  Speaker 2: community that keeps growing.
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  Speaker 1: This is the power of the platform. Now let's get
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  Speaker 1: into it.
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  Speaker 3: Welcome the Money in Wealth with John Hope Bryant, a
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  Speaker 3: production of the Black Effect Podcast Network and iHeartRadio.
• 0:29
  Speaker 4: Hey.
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  Speaker 3: Hey, this is John Hope Bryant and this is Money
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  Speaker 3: and Wealth podcast networks series.
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  Speaker 5: This is my season two of Money and Wealth on
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  Speaker 5: iHeart Radio and the Black Effect Network.
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  Speaker 3: I want to thank everybody for making us a top
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  Speaker 3: one hundred business podcast and top fifty for entrepreneurship here
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  Speaker 3: in America and top two hundred around the world today.
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  Speaker 3: As you know, I don't normally bring on guests. This
• 0:54
  Speaker 3: is my sort of personal ministry of finance. I don't
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  Speaker 3: normally bring on guests. If I bring on a guest,
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  Speaker 3: they're very special and I don't think I've ever brought
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  Speaker 3: on the same guest twice. This is a guest that
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  Speaker 3: I would bring on over and over and over and
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  Speaker 3: over again because his cup of knowledge and insight and
• 1:15
  Speaker 3: wisdom runneth over. You know him as the legendary Michael Milkin.
• 1:20
  Speaker 3: I know him as my friend. He is an extraordinary
• 1:25
  Speaker 3: human being. Some of you who know your history would
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  Speaker 3: know that Alexander Hamilton is credited for being sort of
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  Speaker 3: the father of finance, father of the really traditional banking
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  Speaker 3: system in America.
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  Speaker 5: If there is a modern.
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  Speaker 3: Father of finance in the last one hundred years, one
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  Speaker 3: would have to credit at least in part, Michael Milkin.
• 1:55
  Speaker 3: Let me give you a little bit of his bio.
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  Speaker 3: Then I'll tell you why I think he's important personally.
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  Speaker 3: Then we're gonna get into a very powerful session that's
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  Speaker 3: really talking about the future of America, the future of
• 2:06
  Speaker 3: this thing we call the American Dream. Born in forty
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  Speaker 3: six as the Financie, became a financier and a philanthropist
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  Speaker 3: and a thought leader. His career spanned a Wall Street innovation,
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  Speaker 3: large scale philanthropy, decades of work advancing medical research, probably
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  Speaker 3: the largest contributor to prostate research in the world today.
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  Speaker 3: And he had prostate cancer. And as he solves most things,
• 2:34
  Speaker 3: he took a problem and turned it into a solution
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  Speaker 3: at scale, not only benefit himself but everybody else.
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  Speaker 5: Two.
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  Speaker 3: He rose to prominence most people's minds in the seventies
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  Speaker 3: and the eighties at Drexel Burnham, Lambert shorthand Drexel on
• 2:52
  Speaker 3: Wall Street, pioneering the use of high yield bonds. He
• 2:56
  Speaker 3: probably hates to me saying this, Some people call him
• 2:58
  Speaker 3: junk bonds. Ending name tied him with the word junk
• 3:02
  Speaker 3: on it. But it was just a high yield bond
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  Speaker 3: instrument that had never been created before, and he pioneered
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  Speaker 3: that himself. That opened the doors for a lot of
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  Speaker 3: entrepreneurs to get into the game. His financial models opened
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  Speaker 3: up capital access for companies and entrepreneurs that traditional banks overlooked.
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  Speaker 3: He fueled growth in industries like cable, cellular as in
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  Speaker 3: cell phones, and healthcare. A third of all companies you
• 3:31
  Speaker 3: do business with the day are industries. Michael had a
• 3:34
  Speaker 3: hand in those. And in philanthropy, I've already mentioned prostate cancer.
• 3:40
  Speaker 3: He has a Prostate Cancer Foundation Faster Cures Medical research
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  Speaker 3: is multifaceted and deep seated to this day. In education,
• 3:51
  Speaker 3: he has a milk In Family Foundation, which does great
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  Speaker 3: work in k through twelve. His global influence includes the
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  Speaker 3: annual is Too Global Conference, the Milk and Global Conference
• 4:03
  Speaker 3: and Shorthand He's got the Milking Institute as well, which
• 4:07
  Speaker 3: is sort of his base station for all things advancement.
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  Speaker 3: He's working now on a number of initiatives, including medical philanthropy,
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  Speaker 3: inclusive capitalism. I call it the Center for the Advancement
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  Speaker 3: into the American Dream in Washington, d C. Which I'm
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  Speaker 3: very proud to be associated with, and we're going to
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  Speaker 3: talk a lot about today because it opens very soon.
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  Speaker 3: Just one of his pet project side deals that he
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  Speaker 3: raised a billion dollars for collected six buildings in Washington,
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  Speaker 3: d C. Across from the White House, acrossing the Treasury Department,
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  Speaker 3: next to Hello, the Friedman's Bank. You can't make this up.
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  Speaker 3: In Bassard, Andrew Young would say, coincidence is God's way
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  Speaker 3: of remaining anonymous. It's next to the Freedman's Bank. And
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  Speaker 3: when I was with Michael by the way for a
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  Speaker 3: soft opening, I think it was July. It was for
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  Speaker 3: July fourth. We're there July second, and he was on
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  Speaker 3: the balcony. I was there with him overlooking Treasury. It
• 5:03
  Speaker 3: was about six pm and I looked at Michael as
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  Speaker 3: I just remembered something. July second, around six pm eighteen
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  Speaker 3: seventy four, I believe was a date that was the
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  Speaker 3: last date that Frederick Doll has walked out of what
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  Speaker 3: was called the Freedman's Bank for the end of that experiment.
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  Speaker 3: He thought it had failed. And on July second, twenty
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  Speaker 3: twenty five, Michael Milkin had turned the lights on on
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  Speaker 3: mcat a milkn Center for the Advance of the American
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  Speaker 3: Dream in my opinion, to turn the light back on
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  Speaker 3: in America and to give people once again a ladder
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  Speaker 3: for their aspirational success. And he's got the Economic Mobility Alliance,
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  Speaker 3: which we're going to talk about promoting promotes pathways the
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  Speaker 3: capital inclusion, entrepreneurship, and financial security, financial literacy that includes me,
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  Speaker 3: by the way, I'm involved with that. Michael's been called
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  Speaker 3: the man who changed medicine. His role in accelerating cures
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  Speaker 3: and medical research funding again for black folks in particular
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  Speaker 3: prostate cancer is a game changer and he had a
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  Speaker 3: big hand in that. But the thing that I'm most
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  Speaker 3: proud of is that really the Martin the King Junior
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  Speaker 3: of Wall Street is a man named Reginald Lewis, and
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  Speaker 3: Reginald Lewis had a vision Harvard educated, very qualified, overqualified.
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  Speaker 5: Has had a vision to do a deal to buy
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  Speaker 5: a company.
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  Speaker 3: I think it was called Beatrice International forty I think
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  Speaker 3: he was involved in forty countries.
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  Speaker 5: It was a billion dollar deal and he couldn't get
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  Speaker 5: anybody to back them. Michael backed them.
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  Speaker 3: So when folks will remain nameless said this deal can't
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  Speaker 3: be done, Michael, this guy can't find the capital to
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  Speaker 3: do this deal. He's a nice guy, Michael said, well,
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  Speaker 3: I'm his capital.
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  Speaker 5: That's my kind of guy.
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  Speaker 3: You don't hear that backstory, But everybody needs a Michael Milkin,
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  Speaker 3: and my Michael Milkin. Well, it is Michael Milkin, but
• 7:09
  Speaker 3: it's also people like Tony Wrestler, who worked back at
• 7:13
  Speaker 3: Drexel for Michael Milkin. Tony Wrestler, who is one of
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  Speaker 3: the most successful people in the world today, helped to
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  Speaker 3: back me and some of the things I've done. And
• 7:22
  Speaker 3: so the story continues. And so Michael is a PhD
• 7:26
  Speaker 3: and a PhD too. He's a get it done guy,
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  Speaker 3: and I call him an honorary brother. He's real cool,
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  Speaker 3: and he's down to earth, and he deeply cares and
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  Speaker 3: he doesn't change his values or his beliefs based on
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  Speaker 3: political wins or who's in office, or whether you're a
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  Speaker 3: conservative or Democrat, or black or white or Richard Poor.
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  Speaker 3: He just says things because he believes it's the truth.
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  Speaker 3: That's my kind of dude. And I'm about to introduce
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  Speaker 3: him to you as my friend, ladies and gentlemen, my
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  Speaker 3: friend a living mansion.
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  Speaker 4: Michael Milkin, Well, hello, my young friend. That's quite an introduction.
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  Speaker 4: As you know, my mom, if she was still alive,
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  Speaker 4: would be blushing with that description. But both you and
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  Speaker 4: I are dedicated to a number of things and working together,
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  Speaker 4: not the least of which is access to capital on
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  Speaker 4: opportunity for all.
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  Speaker 3: And Michael, this is not just talk for you. I
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  Speaker 3: mean you've walked your talk. You've put your money where
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  Speaker 3: your mouth is and everybody else's money that you can
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  Speaker 3: get a hold of from your friends to do well
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  Speaker 3: and do good at the same time. I mean, last
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  Speaker 3: week you had a bunch of really really powerful wealthy
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  Speaker 3: people in the Hamptons for a dialogue, and then you
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  Speaker 3: have a dialogue in la and you have a dialogue
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  Speaker 3: in the Florida, and you've got things going on Singapore,
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  Speaker 3: You've got meetings in Africa, in the Middle East, and
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  Speaker 3: Asia is if you have spare time. I thought I
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  Speaker 3: was busy to look at your schedule. I mean, you
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  Speaker 3: are restless in your desire to make the world a
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  Speaker 3: better place, and today you and I I think would agree.
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  Speaker 3: At least I think we would agree. We don't talk
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  Speaker 3: about the city advance of the interview. The world's feeling
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  Speaker 3: a little challenge. I mean, people are questioning whether the
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  Speaker 3: American dream is still real for them, whether they can
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  Speaker 3: actually we do, I think disagree on what that American
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  Speaker 3: dream is for people. We'll get into that in a
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  Speaker 3: Minute's nothing wrong with the constructive friction and positive disagreement.
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  Speaker 3: But what I think we can't agree on is that
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  Speaker 3: it was your quote, education, sorry, intelligence is equally distributed,
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  Speaker 3: but opportunity is not. And that's a Michael Milkan quote.
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  Speaker 3: And I think that's more the case now than it
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  Speaker 3: was a decade ago. I think people are feeling that
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  Speaker 3: no matter how hard they work, they just can't get ahead.
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  Speaker 3: They feel like there are a treadmill that maybe even depressed.
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  Speaker 3: And that's why I think it's a good time for
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  Speaker 3: this conversation. You cannot have a rainbow without a storm first.
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  Speaker 3: That's a scientific fact. Actually, it's not just good metaphor,
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  Speaker 3: and so it's time for a rainbow. I think people
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  Speaker 3: are exhausted, They're worn out. They're tired of people arguing
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  Speaker 3: and being experts in what they're against and even the division.
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  Speaker 3: So how do we bridge folks together? Is that what
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  Speaker 3: is that shared dream? Is it still possible to be
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  Speaker 3: people to achieve and become successful here. I think America
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  Speaker 3: is a light for all of our problems. We just
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  Speaker 3: get this out of the way. My second great grandmother
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  Speaker 3: was a slave, My second great grandfather was a slave,
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  Speaker 3: My father was a share my grandfather was a share cop.
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  Speaker 5: Proper. I mean, I get that America is highly imperfect, but.
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  Speaker 3: Sort of capitalism for me, capitalism, democracy and America sort
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  Speaker 3: of like horrible systems except for every other system right.
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  Speaker 5: And America has got all kinds of problems. But I really.
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  Speaker 3: Wouldn't live any place else. But we still need to
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  Speaker 3: be that light on the heel. We need to renew
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  Speaker 3: that promise. And most wealth comes from the private sector.
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  Speaker 3: Most jobs come from the private secret people don't know that.
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  Speaker 3: And people companies were one small ones. People don't know
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  Speaker 3: that they started small and somebody made it be in
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  Speaker 3: a household name. If that dream dead, Michael Ork or
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  Speaker 3: does it just need to be revitalized? And is that
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  Speaker 3: in any way why you created what is people call
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  Speaker 3: it shorthand mk Milkan Center for the Advancement of the
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  Speaker 3: American Dream Or did you just not have something else
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  Speaker 3: to do with a billion dollars?
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  Speaker 4: Well, it all started in two thousand and seven. John
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  Speaker 4: and I became really concerned that people were feeling more
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  Speaker 4: and more disenfranchised, didn't feel they had a chance at
• 11:41
  Speaker 4: that dream or redefine that dream. So I bought some
• 11:45
  Speaker 4: property in California with the idea that you could overlook
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  Speaker 4: the Pacific Ocean and have that dream. But over time
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  Speaker 4: I felt we needed to do it in Washington, DC.
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  Speaker 4: All the decisions, all the rules were there, and who knows,
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  Speaker 4: there was a chance to buy the building next to
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  Speaker 4: the Freedom Bank. What better location could you buy?
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  Speaker 5: Vision? That's right a lot and will You didn't know
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  Speaker 5: it at that time, right, you didn't realize was Friedman's
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  Speaker 5: Bank next door? When you bought it, right, you made it.
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  Speaker 4: You got that name, Johnny used to be called the
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  Speaker 4: Treasury Annex until you enlighten the government. And so I
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  Speaker 4: felt we need a beacon of hope for the whole world,
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  Speaker 4: not just the United States, that some place there's a
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  Speaker 4: beacon and hope. And on July third of this year,
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  Speaker 4: for the first time in eighty three years, we opened
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  Speaker 4: the skylight in the old Rigs Bank building and let
• 12:47
  Speaker 4: light back in. And after they bombed Pearl Harbor and
• 12:50
  Speaker 4: Germany declared war in the United States, and we all
• 12:54
  Speaker 4: know about all those bombing runs in Britain and London,
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  Speaker 4: they were not allowed to have light. And so this
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  Speaker 4: building was shedding the light not only in Washington and
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  Speaker 4: the world, but financing many different things. And the government
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  Speaker 4: made them take out the skylight and we restored all
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  Speaker 4: one hundred and ninety panels, put it back in on
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  Speaker 4: in July third of this year, opened it that light again.
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  Speaker 4: But you've told your story, and we're filming ten thousand
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  Speaker 4: stories with the idea that a person can come and
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  Speaker 4: find their story in the American dream.
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  Speaker 5: And we have.
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  Speaker 4: Filmed people whose ancestors came here as slaves, not by choice.
• 13:44
  Speaker 4: We filmed people who lived in homeless shelters, hot centers.
• 13:48
  Speaker 4: We filmed people that never met their father. We filmed
• 13:52
  Speaker 4: people that basically lived in foster care We didn't just
• 13:57
  Speaker 4: film the most successful entrepreneurs. And we recently filmed someone
• 14:04
  Speaker 4: who's achieved as American dream, and we asked him what
• 14:08
  Speaker 4: was your dream? His dream was to coach his daughter's
• 14:11
  Speaker 4: soccer team. But economics, economics, when you ask people, only
• 14:18
  Speaker 4: sixteen percent of people think wealth is required to achieve
• 14:25
  Speaker 4: your American dream. Number one factor is over eighty percent
• 14:29
  Speaker 4: will tell you it is freedom. Freedom to live your life. Okay,
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  Speaker 4: freedom for a good family life, freedom for retirement. But
• 14:41
  Speaker 4: you and I both know it's hard to have a
• 14:43
  Speaker 4: great retirement if you don't have any pension fund or
• 14:47
  Speaker 4: savings account later in the life.
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  Speaker 5: So where is money?
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  Speaker 4: Wealth is not essential, Having a degree of financial freedom is.
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  Speaker 4: And you have taken leadership, and I've spent sixty years
• 15:02
  Speaker 4: working on financial literacy. When you talked about creditor bonds,
• 15:08
  Speaker 4: ninety nine point nine to nine percent of every business
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  Speaker 4: in America is not an investment grade company, and said, yes,
• 15:17
  Speaker 4: those five hundred companies thought it was good. Let's not
• 15:21
  Speaker 4: give an entrepreneur like John Hope Bryant or Craig McCall
• 15:26
  Speaker 4: or Ted Turner. Let's deny him access to capital, and
• 15:30
  Speaker 4: the world will be better.
• 15:31
  Speaker 5: You'rek about the Fortune five hundred, the five hundred companies
• 15:34
  Speaker 5: that was about the Fortune five hundred.
• 15:36
  Speaker 4: Well, now there are not every Fortune five hundred is
• 15:39
  Speaker 4: investment grade, but these are the ones that have the
• 15:41
  Speaker 4: highest rating.
• 15:42
  Speaker 5: Got it?
• 15:43
  Speaker 4: And these companies. Large companies created minus four million jobs
• 15:49
  Speaker 4: in the last thirty years of the twentieth century. And
• 15:53
  Speaker 4: those small and medium companies that grew grew into large
• 15:58
  Speaker 4: companies today created six two million jobs.
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  Speaker 5: Wow.
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  Speaker 4: And so there are we cannot rest on the past,
• 16:07
  Speaker 4: and we cannot deny those with the best ideas, drive creativity,
• 16:14
  Speaker 4: We cannot deny them capital and all these companies, every
• 16:18
  Speaker 4: one of your most valuable companies, Amazon, Microsoft, Navidia, Facebook, Google,
• 16:28
  Speaker 4: that we know, Tesla, none of them existed in the
• 16:33
  Speaker 4: nineteen seventies, none of them. And so these ideas. And
• 16:39
  Speaker 4: I remember I was speaking to a young group in
• 16:42
  Speaker 4: south central LA. Not Campton, but it was close down
• 16:47
  Speaker 4: there in south central and John where you now you
• 16:52
  Speaker 4: were one. I wasn't in Camden. I wasn't in Compton either,
• 16:57
  Speaker 4: but we were in parts of LA. And I remember
• 17:01
  Speaker 4: speaking with.
• 17:03
  Speaker 5: For the audience.
• 17:04
  Speaker 3: I'm teasing Michael, he's been the Harlem more than most,
• 17:07
  Speaker 3: more than most Caucasian folks have ever even seen a
• 17:10
  Speaker 3: picture of Harlem.
• 17:10
  Speaker 5: He's been.
• 17:11
  Speaker 3: He's been to Harlem, maybe more than a lot of
• 17:13
  Speaker 3: black people. He's been the South Central on a regular basis.
• 17:16
  Speaker 3: I think the first time I met Michael Millcotte, actually
• 17:20
  Speaker 3: twenty five years ago, was in South central deep south
• 17:25
  Speaker 3: central LA at a conference where we asked him to speak.
• 17:29
  Speaker 5: He was very comfortable. I'm teasing him, so but I
• 17:32
  Speaker 5: just I like to tease him, but.
• 17:33
  Speaker 4: Seriously then Harlem, Yeah, he's in Harlem. I got school
• 17:38
  Speaker 4: in South central LA. And I remember holding up in
• 17:42
  Speaker 4: the early days a mobile phone, and I asked them
• 17:48
  Speaker 4: what was more powerful? Where did this mobile come from?
• 17:53
  Speaker 4: Where did it come from? He came from the ideas
• 17:55
  Speaker 4: of people a new industry. And if you you wanted
• 18:00
  Speaker 4: to own the franchise for New York City, eight to
• 18:06
  Speaker 4: ten million people just in the city, what did it cost?
• 18:11
  Speaker 4: It costs ten thousand dollars. That's all you have to
• 18:15
  Speaker 4: do to apply for that franchise. Really, now it costs
• 18:21
  Speaker 4: a lot of money to build it out. But that's
• 18:22
  Speaker 4: where I came in. But in the case of Rege Lewis,
• 18:27
  Speaker 4: here was a person that was the best prepared, most knowledgeable,
• 18:32
  Speaker 4: and was going to do the best job running Beatrice International, right.
• 18:37
  Speaker 4: And when the owners and the sellers told me he
• 18:40
  Speaker 4: had no credibility with them, I told him he had
• 18:44
  Speaker 4: credibility with me, and that's all he needed. And boy
• 18:48
  Speaker 4: did he do a great job. But there are so
• 18:51
  Speaker 4: many of those young entrepreneurs that are household names today
• 18:57
  Speaker 4: that people met from the standpoint, and it's amazing what
• 19:02
  Speaker 4: they can do when you give them a chance. But
• 19:04
  Speaker 4: in building the Center for the Advancing American Dream, we
• 19:08
  Speaker 4: want it to be a beacon of hope to the world. John,
• 19:11
  Speaker 4: not just to Washington, d C.
• 19:13
  Speaker 5: But the world.
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  Speaker 4: And of six million people walk down what used to
• 19:19
  Speaker 4: be called the People Street. They can't go into any
• 19:22
  Speaker 4: of the buildings. You've got to get permission and clear security.
• 19:27
  Speaker 3: You can't go to Freeman's Bank building either is a
• 19:29
  Speaker 3: secure facility. So your building is the only one that
• 19:31
  Speaker 3: anybody can end it. You can't enter Treasury, you can't
• 19:34
  Speaker 3: enter the Freedman's Bank. We certainly can into the White House.
• 19:36
  Speaker 5: You can't.
• 19:37
  Speaker 4: I mean, we're going to open the People Street again
• 19:40
  Speaker 4: to the people. But you and I both know as
• 19:44
  Speaker 4: we thought about what it takes to think about that dream.
• 19:49
  Speaker 4: We thought of the four pillars which have been the
• 19:51
  Speaker 4: four pillars of my life. One is financial literacy, the
• 19:55
  Speaker 4: free enterprise system, access to capitol.
• 19:59
  Speaker 5: What do they in Michael forget.
• 20:01
  Speaker 4: Finance, financial freedom, all financial literacy there, that's all one finance.
• 20:10
  Speaker 4: Number two the entrepreneur and innovation. Who thought of all
• 20:15
  Speaker 4: these new ideas? Okay, who thought of them? You're an entrepreneur,
• 20:20
  Speaker 4: but many of the entrepreneurs John are social entrepreneurs. They're
• 20:25
  Speaker 4: running foundations, they're running churches, or they're like Lee Kwan yu,
• 20:30
  Speaker 4: and they built a country as an entrepreneur. Third is
• 20:35
  Speaker 4: healthcare and medical research. It's hard to have a good
• 20:39
  Speaker 4: life if you're not healthy. It's hard to have a
• 20:43
  Speaker 4: good life if your life is cut short because you
• 20:46
  Speaker 4: don't have access to good health care. And Fourth, education
• 20:51
  Speaker 4: and the educator in the world we live in today,
• 20:56
  Speaker 4: it's that education that's freedom. And that's why we're so
• 20:59
  Speaker 4: focused on the historically black colleges here to make sure
• 21:05
  Speaker 4: that those kids who have the intelligence have the opportunity.
• 21:10
  Speaker 4: And that's why we run these programs with getting them
• 21:14
  Speaker 4: to be money managers. Because when I noticed at a
• 21:17
  Speaker 4: very young age, it was funny. If I financed an
• 21:22
  Speaker 4: entrepreneur from Vietnam, somehow there were more Vietnam employees from Vietnam.
• 21:28
  Speaker 4: And if I financed a black entrepreneur, it was just funny.
• 21:32
  Speaker 4: But there were more black senior employees than if there weren't.
• 21:36
  Speaker 4: And if I financed someone from Mexico, Lo and behold,
• 21:40
  Speaker 4: there were more people from Latin America. And so we
• 21:43
  Speaker 4: want to make sure that everyone has access to capital.
• 21:48
  Speaker 4: And this program on Economic Mobility Alliance that you're such
• 21:53
  Speaker 4: a big part of, John, is to bring everyone's programs together.
• 21:59
  Speaker 4: So KK started a program called Ownership Work, so when
• 22:04
  Speaker 4: they buy a company, they give stock to every single
• 22:08
  Speaker 4: employee of that company. And then Blackstone, who's the third
• 22:12
  Speaker 4: largest employer in America seven one hundred thousand, they started
• 22:17
  Speaker 4: something called Career Pathways. So if you're working for their
• 22:21
  Speaker 4: company and you want to move up, whether you need education,
• 22:26
  Speaker 4: a graduate degree, some technical skills, or whether you need
• 22:30
  Speaker 4: an education in financial literacy, they're going to tell you
• 22:34
  Speaker 4: have upward mobility if we're working for us. And so
• 22:39
  Speaker 4: each of these entities becomes important, and today we have
• 22:44
  Speaker 4: employers of over four to six million people that are
• 22:49
  Speaker 4: waiting for the rules that are going to give money
• 22:53
  Speaker 4: to every child of every employee. Today, in America we
• 22:59
  Speaker 4: have the most millionllionaires of any country, but we have
• 23:02
  Speaker 4: a very large percentage of our population with a net
• 23:07
  Speaker 4: worth under ten thousand who have to worry about a
• 23:10
  Speaker 4: medical emergency or something going wrong in their family. And
• 23:15
  Speaker 4: so when I look at Australia today, Australia has the
• 23:20
  Speaker 4: highest meetian net worth of any country in the world.
• 23:26
  Speaker 4: It has more than twenty million people because they created
• 23:28
  Speaker 4: these super annuation funds where every single person has their
• 23:34
  Speaker 4: own pension fund and retirement and has a feeling of
• 23:39
  Speaker 4: confidence that if they ever retire, or they have a
• 23:42
  Speaker 4: medical emergency or so they need something. We also are
• 23:55
  Speaker 4: part of the effort. We have to stop loaning money
• 23:59
  Speaker 4: to people to go to college and then they get
• 24:01
  Speaker 4: out and they feel they're going to spend the rest
• 24:03
  Speaker 4: of their life having to pay it back. We have
• 24:06
  Speaker 4: been focusing on investing. I can invest in you. I'll
• 24:12
  Speaker 4: give you the money for you to go to school,
• 24:15
  Speaker 4: and we'll share revenues, so after you get the first
• 24:18
  Speaker 4: hundred thousand or two hundred thousand, it's not debt I'm
• 24:23
  Speaker 4: betting on you. And if I'm betting on you and
• 24:25
  Speaker 4: made an investment on you, you can rest assured I'm
• 24:29
  Speaker 4: going to help you with your internships. I'll find a
• 24:32
  Speaker 4: way to get you capital and make your ideas available.
• 24:35
  Speaker 4: So hundreds of different programs, and the idea for this, John,
• 24:40
  Speaker 4: as you know, came from what we did in healthcare.
• 24:44
  Speaker 5: Yeah, you can revolutionize healthcare led by the process piece
• 24:48
  Speaker 5: crossly cancer research and all these efforts have changed health care.
• 24:51
  Speaker 5: And you're basically going to.
• 24:52
  Speaker 3: Reboot that model as I'm hearing and trying to connect
• 24:56
  Speaker 3: it to economic mobility, creating a compact of leaders wrapped
• 25:01
  Speaker 3: around all these different programs and initiatives. I want to
• 25:05
  Speaker 3: slow down for the audience and bring I want to
• 25:08
  Speaker 3: tease out a couple of things. Michael talks about the stuff.
• 25:11
  Speaker 3: He's such a genius he talks about and stuff so
• 25:13
  Speaker 3: naturally that it may be hard for people to catch
• 25:16
  Speaker 3: all of it. I want to come back and slow
• 25:17
  Speaker 3: the music down for a little bit. Uh mcat in
• 25:22
  Speaker 3: order milking Center for the advance of the American Dream.
• 25:25
  Speaker 3: I want you to go after September whatever it is,
• 25:29
  Speaker 3: twenty or whatever, It'll be open to the public.
• 25:31
  Speaker 5: You can go to Washington, d C. I want you
• 25:33
  Speaker 5: to go.
• 25:33
  Speaker 3: I want to take your kids. I want to take
• 25:35
  Speaker 3: your mate, I want you to take your business partner.
• 25:37
  Speaker 3: I want to take their fellow dreamer. It's not a museum, people,
• 25:40
  Speaker 3: it's not a museum to the past. It's a lighthouse
• 25:44
  Speaker 3: for the future. It's it's it's the rebuilding of the
• 25:46
  Speaker 3: American dream. And it'll inspire you to be that dreamer.
• 25:50
  Speaker 3: And you and you're not a you're not an observer
• 25:53
  Speaker 3: of this.
• 25:54
  Speaker 5: When you walk in, there's a beautiful gold tree, and
• 25:59
  Speaker 5: you be in a walk over and tell your story,
• 26:02
  Speaker 5: take a photo and tell your story briefly.
• 26:05
  Speaker 3: That photo within ten seconds will show off on the tree.
• 26:10
  Speaker 3: You're gonna see yourself on that tree, right next to
• 26:13
  Speaker 3: Magic Johnson, right next to Oprah Winfrey, right next to
• 26:18
  Speaker 3: whatever hero or she wrote you admire most, Alexrodrigez, wherever
• 26:21
  Speaker 3: it is you admire.
• 26:23
  Speaker 5: You're gonna see your picture right up there. You can
• 26:25
  Speaker 5: take a photo of that. And I believe they're gonna
• 26:26
  Speaker 5: be some keep saying when to take that home. But
• 26:28
  Speaker 5: you're gonna be part of this history. And that's that's
• 26:31
  Speaker 5: just the beginning.
• 26:32
  Speaker 3: Of this journey of being involved, hopefully with a relationship
• 26:38
  Speaker 3: with the Milkings Center for.
• 26:40
  Speaker 5: The massive Advanced American Dream.
• 26:41
  Speaker 3: And hopefully we're gonna tie this in to the Freedman's
• 26:44
  Speaker 3: Bank legacy because we can't go into the Freeman's Bank buildings.
• 26:46
  Speaker 3: We're gonna Hope meetings about what I call silvil rights
• 26:51
  Speaker 3: from civil rights and civil rights inside of the milk
• 26:54
  Speaker 3: And Center the Advanced American Dream. Let's now go to
• 26:56
  Speaker 3: his comment about aunts, and I mean, I'm just going
• 27:01
  Speaker 3: to break this down. You talk about investment accounts, and
• 27:03
  Speaker 3: I believe he's talking about young people, as you the
• 27:05
  Speaker 3: audience probably knows. Operation to Hope partner with the City
• 27:08
  Speaker 3: of Atlanta, Mayor Andre Dicken to help the inspiration of
• 27:12
  Speaker 3: Mayor Abassidor Andrew Young as an inspiration and former Mayor
• 27:17
  Speaker 3: Kisha Lance Bottoms.
• 27:18
  Speaker 5: We got a couple million dollars from the City of Atlanta.
• 27:20
  Speaker 3: We put up child's accounts, child savings accounts, Hope Child
• 27:23
  Speaker 3: Savings accounts, and we met it was matching a fifty bucks.
• 27:26
  Speaker 3: Mike some much more money than this is a thousand dollars,
• 27:29
  Speaker 3: but we it was fifty bucks from the city. We
• 27:31
  Speaker 3: matched it fifty bucks operation and hope in our partners.
• 27:35
  Speaker 3: We have now ten thousand, five hundred account every kid
• 27:37
  Speaker 3: in kindergarten for the last three years in Atlanta. Those
• 27:41
  Speaker 3: kids are going to grow up with a different outlook
• 27:43
  Speaker 3: on life. Studies have shown if you have money in
• 27:45
  Speaker 3: an account, a kid is seventy five percent more likely
• 27:48
  Speaker 3: to gradual weight from college.
• 27:50
  Speaker 5: Just that one thing.
• 27:52
  Speaker 3: Then the rap financial literacy around it. Give them a
• 27:54
  Speaker 3: role model, give somebody w aspire to. Okay, now the
• 27:58
  Speaker 3: fuses lit and we can do this in communities all
• 28:01
  Speaker 3: across the country. On the local basis. It's powerful. Brittie's King,
• 28:05
  Speaker 3: Doctor King's daughter is wanting to work with us on
• 28:07
  Speaker 3: their dance hundredth anniversary of his birthday coming up twenty
• 28:11
  Speaker 3: twenty nine, to do one hundred accounts one hundred cities.
• 28:14
  Speaker 3: Is this local effort is very noble, but it'd be
• 28:18
  Speaker 3: nice if there was something national that sort of was
• 28:21
  Speaker 3: a partner to this effort. And I can't speak to
• 28:24
  Speaker 3: the details that a lot of this stuff is still
• 28:25
  Speaker 3: in motion, but I will tell you I trust Michael.
• 28:30
  Speaker 5: I don't know.
• 28:30
  Speaker 3: I'm not talking about other folks involved this, but I
• 28:33
  Speaker 3: trust Michael, And Michael tells me that there are billionaires
• 28:37
  Speaker 3: who agreed to put up a lot of money in
• 28:39
  Speaker 3: major corporations to open child savings accounts, basically invest in
• 28:45
  Speaker 3: the market nationally, and I think that that has a
• 28:49
  Speaker 3: lot of potential. So that's something that he mentioned, and
• 28:52
  Speaker 3: he referenced the success in Australia in that regard.
• 28:56
  Speaker 5: I'm just trying to slow this music down a little
• 28:58
  Speaker 5: bit so that people can keep up with you.
• 28:59
  Speaker 4: Michael continue, Oh, John, I think you've touched something here
• 29:06
  Speaker 4: by giving every kid an investment in an index of
• 29:11
  Speaker 4: stocks of the largest companies, most innovative companies in America,
• 29:17
  Speaker 4: and having the financial institutions agree that there are no charges.
• 29:23
  Speaker 4: There is no charge to open the account, there is
• 29:26
  Speaker 4: no charge to manage money. And you and I know
• 29:30
  Speaker 4: how many people that these charges eat them alive over time.
• 29:34
  Speaker 4: So no charges, okay for them, You'll be able to
• 29:39
  Speaker 4: save money and everyone can feel that they're part of
• 29:43
  Speaker 4: the process. That was the idea between ownership works if
• 29:47
  Speaker 4: we're going to have a successful company and sell it.
• 29:51
  Speaker 4: And one of the partners, Leonard Green, headed by people
• 29:54
  Speaker 4: who used to work for me, they sold the company
• 29:57
  Speaker 4: to Home depot, and they distributed two billion dollars to
• 30:04
  Speaker 4: every low level and every mid level employee working for
• 30:08
  Speaker 4: that company because they were stakeholders. They were shareholders. And
• 30:12
  Speaker 4: that's our promise. How do we make people feel now?
• 30:16
  Speaker 4: Our country is a very unique place most of the
• 30:21
  Speaker 4: countries in the world. If you were given money to
• 30:24
  Speaker 4: start a business and it didn't work, that's it. There
• 30:28
  Speaker 4: are no second chances here. In places like Silicon Valley,
• 30:36
  Speaker 4: people wear their badges as an honor badge that they
• 30:41
  Speaker 4: started a company, they did their best, it didn't make it,
• 30:45
  Speaker 4: but they get a second chance, and they get a
• 30:47
  Speaker 4: third chance. And so you'd be surprised today how many
• 30:51
  Speaker 4: people you read about or hear about that their company
• 30:56
  Speaker 4: turned out to be fabulously successful at their first try.
• 31:01
  Speaker 4: And that's what's unique. And I think that's one of
• 31:04
  Speaker 4: the messages we're going to have in the center. And
• 31:07
  Speaker 4: another very important part of the Center that you talked about, John,
• 31:12
  Speaker 4: is that center will change when you come there. There
• 31:16
  Speaker 4: is the word cloud in another hall that you can
• 31:21
  Speaker 4: enter your words as to what you think the American
• 31:24
  Speaker 4: Dreams stands for, and as you enter your words, the
• 31:29
  Speaker 4: colors of that cloud change to reflect the words you
• 31:33
  Speaker 4: put on. So this is something that changes when you're there,
• 31:37
  Speaker 4: and we've spent a lot of time creating these holograms.
• 31:42
  Speaker 4: So if you want to learn a little bit about
• 31:44
  Speaker 4: being an entrepreneur, you can talk to Sarah Blakely and
• 31:49
  Speaker 4: you can have a conversation with her because she is
• 31:53
  Speaker 4: turned into an avatar. And if you want to talk
• 31:56
  Speaker 4: to a young money manager and your capital, well you
• 32:01
  Speaker 4: can have a conversation with Serena Williams about her venture
• 32:06
  Speaker 4: capital firm and what she did. And if you want
• 32:09
  Speaker 4: to talk about education, sal Khan, his avatar, is there
• 32:13
  Speaker 4: to talk to you about it. And if you want
• 32:16
  Speaker 4: to talk about medical, the fourth pillar where their sun
• 32:20
  Speaker 4: Jay Gupta from CNN to talk to you about that. Right,
• 32:25
  Speaker 4: So this is an interactive experience and so those we
• 32:30
  Speaker 4: want people to be energized. And there's stories of people
• 32:36
  Speaker 4: whose lives have been so difficult, being diagnosed with a
• 32:40
  Speaker 4: life threatening disease as a kid, being handicapped, and what
• 32:45
  Speaker 4: and how they overcame them. And so what we hope
• 32:48
  Speaker 4: is that each person can find their own dream. So
• 32:52
  Speaker 4: our goal in the center is that a story of
• 32:57
  Speaker 4: one of the people, one of the thousands of people
• 33:00
  Speaker 4: will touch someone and say that could be my American dream.
• 33:05
  Speaker 4: And who knows, John, just like that man that walked
• 33:08
  Speaker 4: into your classroom in Compton, California changed your life. We
• 33:13
  Speaker 4: look one of the people they meet and interact with
• 33:16
  Speaker 4: at the center, whether it's in person or digitally, might
• 33:21
  Speaker 4: change their path and give them hope for their American
• 33:25
  Speaker 4: dream and make them feel it's possible. If that person
• 33:28
  Speaker 4: could achieve it, then we can achieve it. And when
• 33:31
  Speaker 4: they come there and watch the video of a girl
• 33:36
  Speaker 4: who was hard of hearing and they didn't know she
• 33:39
  Speaker 4: was hard of hearing, and the school told her that
• 33:43
  Speaker 4: she was not going to be successful in life. Well,
• 33:47
  Speaker 4: today that girl is the principle of the same school
• 33:52
  Speaker 4: she went to. And so we hope those stories, just
• 33:58
  Speaker 4: like the person they came into classroom changed your life.
• 34:01
  Speaker 4: One individual, one story for me, as you know, it
• 34:08
  Speaker 4: was the Watts riots on August eleven, sixty five, John,
• 34:13
  Speaker 4: that I met this young American African American man who
• 34:18
  Speaker 4: told me on August twelve that his father no one
• 34:21
  Speaker 4: would ever loan the money because of the color of
• 34:23
  Speaker 4: his skin, and no one would loan him money because
• 34:27
  Speaker 4: of the scholar of his skin, and while we were
• 34:30
  Speaker 4: sitting there looking at this building that had burned down,
• 34:34
  Speaker 4: he now had no job, had a family and a child,
• 34:38
  Speaker 4: and no savings. And so that one event in my
• 34:43
  Speaker 4: life sixty years ago changed the entire path of my life.
• 34:50
  Speaker 4: So we hope maybe visiting one talking to one person,
• 34:54
  Speaker 4: seeing one person might change their life and give them
• 34:59
  Speaker 4: more hope for the future.
• 35:02
  Speaker 5: Audiens listening to this, I want you to get this memo.
• 35:05
  Speaker 3: This guy, in addition to everything else I've just told you,
• 35:08
  Speaker 3: he's got these milk and fellows that come from Africa
• 35:11
  Speaker 3: and Asia, in all parts of the world that he's
• 35:14
  Speaker 3: given a shot. He's given them visibility that I would say,
• 35:17
  Speaker 3: from the streets to the suites, from civil rights to
• 35:20
  Speaker 3: civil rights, and he puts them in front of some
• 35:23
  Speaker 3: of the wealthiest, most powerful people in the world. And
• 35:25
  Speaker 3: these private meetings that Michael invites me to to go
• 35:28
  Speaker 3: speak his dialogues, and he gives them a shot at
• 35:32
  Speaker 3: the big ring where people can hire them or partner
• 35:34
  Speaker 3: with them, or back them, or or they can just
• 35:36
  Speaker 3: befriend each other and get to know each other.
• 35:38
  Speaker 5: Doesn't have to do that.
• 35:40
  Speaker 3: Did it to go to Watts as he just mentioned,
• 35:42
  Speaker 3: most wealthy people, Michael, I'll say it, Michael is one
• 35:45
  Speaker 3: of the wealthy.
• 35:45
  Speaker 5: People in the world.
• 35:47
  Speaker 3: Is to do this, you'd just say, you could just
• 35:49
  Speaker 3: say I'm just gonna go sit on my yachd or
• 35:51
  Speaker 3: sit in my beach house or whatever and call it
• 35:53
  Speaker 3: to day. But he's all leaned in, and I want
• 35:55
  Speaker 3: you to go to this Milking Center for the advancing
• 35:57
  Speaker 3: the American Dream because it just might be a way
• 36:01
  Speaker 3: to spark your boldness, for you to go from the
• 36:05
  Speaker 3: streets to the suitees, for you to climb up your
• 36:08
  Speaker 3: own aspirational ladder, for you to bring an intern or
• 36:12
  Speaker 3: a fellow into your organization here, your company or your orbit.
• 36:16
  Speaker 3: Why should you live your life? And maybe the only
• 36:18
  Speaker 3: Bible anybody else reads. Michael is a weird dude to
• 36:23
  Speaker 3: me because he's he's he's courageous and kind and consistent,
• 36:29
  Speaker 3: and those are and he's uber wealthy.
• 36:34
  Speaker 5: Those are very rare set of facts. And then you
• 36:36
  Speaker 5: here's a big one.
• 36:37
  Speaker 3: I've already told you Michael Milking story, right, But he
• 36:40
  Speaker 3: also backed a woman I think about forty years ago
• 36:45
  Speaker 3: to become one of the first.
• 36:46
  Speaker 5: Women to run a big company. Michael, what was her.
• 36:49
  Speaker 4: Name Linda Wakner and a company called Warnica, which is
• 36:57
  Speaker 4: how big was that company? And it was one of
• 37:00
  Speaker 4: the five hundred largest companies. And I did get a
• 37:03
  Speaker 4: lot of hate mail, how could I possibly do that?
• 37:05
  Speaker 4: And I a lot of us don't remember.
• 37:09
  Speaker 5: You got death threats, actually death threats from him about that.
• 37:13
  Speaker 5: And for Mike Becking Reriginal Lewis to be blood.
• 37:17
  Speaker 4: It was a different world for women. That great movie
• 37:23
  Speaker 4: you know about the women that helped our space program
• 37:27
  Speaker 4: Hidden Figures. Yep, it's amazing. And when you think of
• 37:31
  Speaker 4: where we are today beginning in the nineteen seventies, that
• 37:37
  Speaker 4: women have an opportunity. And if I would have told
• 37:40
  Speaker 4: someone when I was sitting at my trading desk in
• 37:43
  Speaker 4: nineteen sixty nine that a woman was going to be
• 37:48
  Speaker 4: the CEO of IBM, a woman was going to be
• 37:51
  Speaker 4: the CEO of the largest defense contractor, Lockheed Martin, that
• 37:55
  Speaker 4: a woman was going to be ahead of General Motors,
• 37:58
  Speaker 4: they would have told me, I'm but that barrier was
• 38:03
  Speaker 4: broken down and the first woman happened to be Linda
• 38:07
  Speaker 4: Wakner in the mid eighties, and it was amazing. People said,
• 38:11
  Speaker 4: how can you back a woman? I said, how can
• 38:14
  Speaker 4: I not back a woman who has ability. So I
• 38:19
  Speaker 4: think we're in a different world. And you know, John,
• 38:22
  Speaker 4: that these studies have shown that if you can get
• 38:27
  Speaker 4: a person to interact with different socio economic groups, that
• 38:33
  Speaker 4: they have a much better chance of rising up in
• 38:37
  Speaker 4: their lifetime. Even in the world of a country club.
• 38:42
  Speaker 4: If you're a caddy at a country club and you're
• 38:46
  Speaker 4: a young black kid who's a good athlete and a caddy,
• 38:50
  Speaker 4: you'll have a higher chance of rising up than if
• 38:53
  Speaker 4: you didn't interact with that group. And once you interact
• 38:57
  Speaker 4: with people and discover you can hold your own. All
• 39:02
  Speaker 4: these kids from these elementary schools in the inner cities,
• 39:07
  Speaker 4: once we gave them their superpowers in math, we could
• 39:10
  Speaker 4: then take them and once they discovered, boy, they were
• 39:15
  Speaker 4: a lot stronger and a lot better than those kids
• 39:17
  Speaker 4: going to elite schools. And they knew that eighty three
• 39:22
  Speaker 4: times eighty seven was seventy two twenty one before anyone
• 39:26
  Speaker 4: could enter it into their calculator. That confidence carried him over.
• 39:30
  Speaker 4: And as we look at them later in the life,
• 39:33
  Speaker 4: the six hundred of our scholars who've been given that shot,
• 39:38
  Speaker 4: they have a much different world than their parents did.
• 39:42
  Speaker 4: And much different self confidence. Because of that, they're willing
• 39:46
  Speaker 4: to take chances, they're willing to take risk. Many years ago,
• 39:52
  Speaker 4: Reverend Jesse Jackson, when I first met him almost forty
• 39:55
  Speaker 4: five years ago, he told me, you know why so
• 39:59
  Speaker 4: many Africas Americans go to work for the Post Office
• 40:03
  Speaker 4: because they know they'll get a fair shake, that there
• 40:08
  Speaker 4: won't be discrimination working for them. And many of those
• 40:11
  Speaker 4: people could have built a company, could have done something different,
• 40:17
  Speaker 4: but they felt they weren't going to get a fair shake.
• 40:20
  Speaker 4: And I think that's what access to capital does. It
• 40:24
  Speaker 4: gives you a chance, and this country, which is so unusual,
• 40:30
  Speaker 4: gives you a chance to try and fail and try again.
• 40:34
  Speaker 4: So we want you to hear those stories of all
• 40:38
  Speaker 4: those companies that had Jeff Bezos or someone tried before.
• 40:44
  Speaker 4: It was about forty thirty years ago and I was
• 40:47
  Speaker 4: interacting with many of the entrepreneurs. You know what they
• 40:51
  Speaker 4: told me. Their secret to success was they fail fast.
• 40:56
  Speaker 5: If it's not.
• 40:57
  Speaker 4: Working, they just move on. But it takes a lot
• 41:01
  Speaker 4: of courage to be able to move on. If this
• 41:06
  Speaker 4: is your only job, that's is your only opportunity.
• 41:10
  Speaker 5: And going back to.
• 41:11
  Speaker 3: Your going back to to what I call relationship capital,
• 41:14
  Speaker 3: which is the whole who you know piece and you
• 41:16
  Speaker 3: walk past it, Michael, But I want people to hear this.
• 41:19
  Speaker 3: Maybe you can't get the formal internship. Maybe maybe the
• 41:22
  Speaker 3: programs have been dismantled for you to ladder up into
• 41:25
  Speaker 3: into the corporation, corporate or whatever.
• 41:27
  Speaker 5: But you go get go become a caddie to country club. Uh,
• 41:32
  Speaker 5: go work at a at a at a private club.
• 41:35
  Speaker 5: Try to what does a country mean? Country clubs, private clubs,
• 41:38
  Speaker 5: social clubs, A lot of these these you know, exclusive
• 41:43
  Speaker 5: meeting events. It's it's another way to gain relationship capital,
• 41:48
  Speaker 5: because if you hang around nine bro people, you'll be
• 41:50
  Speaker 5: the tenth.
• 41:51
  Speaker 3: And the opposite is also true. It's not just about
• 41:53
  Speaker 3: smarts you are. It's about positioning yourself so you're smart seen.
• 41:56
  Speaker 3: And that's what Michael's helping to do with the Fellow program.
• 42:00
  Speaker 3: And then what he's done we did with with with
• 42:03
  Speaker 3: Linda believe her name was, and with Reginald Lewis backing them.
• 42:06
  Speaker 3: And by the way, I think a lot of hate
• 42:07
  Speaker 3: that came Michael's way in the seventies and eighties and
• 42:10
  Speaker 3: nineties was because he was backing all these outliers. But
• 42:13
  Speaker 3: that's a whole other podcast for another day.
• 42:15
  Speaker 4: John wasn't just that. Yeah, if you're AT and T
• 42:20
  Speaker 4: and you have ninety nine percent market share, and then
• 42:24
  Speaker 4: somebody's going to finance MCI, and you now have a competitor.
• 42:30
  Speaker 4: By the way, AT and T was broken up four
• 42:35
  Speaker 4: years after we financed MCI. But you would be blackballed
• 42:40
  Speaker 4: if you gave them money. And I think it's very important,
• 42:44
  Speaker 4: you know, when you want to find an entrepreneur. I
• 42:57
  Speaker 4: had this young African American kid, it came to see
• 43:01
  Speaker 4: me to finance his business. You know what made finance
• 43:05
  Speaker 4: his business is he didn't have enough money for advertising.
• 43:11
  Speaker 4: So when they had show time with Magic Johnson at
• 43:15
  Speaker 4: the Lakers, he bought one seat at courtside where the
• 43:19
  Speaker 4: cameras would see him and had the name of his
• 43:22
  Speaker 4: company on his T shirt and there every time they
• 43:26
  Speaker 4: showed the huddle, he stood up free advertising. And I
• 43:32
  Speaker 4: was thinking, boy, this young man is a creative individual,
• 43:37
  Speaker 4: and gosh, we got to back him. We got to
• 43:39
  Speaker 4: give him a chance. If that's how when he has
• 43:42
  Speaker 4: no money, how he's going to advertise. So there are
• 43:45
  Speaker 4: a lot of people, and you know why a company
• 43:48
  Speaker 4: fails two reasons. One of them related to money. One
• 43:54
  Speaker 4: they have too much money and they wasted or two
• 43:58
  Speaker 4: they have too little money. Okay, so how do you
• 44:01
  Speaker 4: find those outliers? How do you find that person in
• 44:05
  Speaker 4: your neighborhood who is going to think of different ways
• 44:09
  Speaker 4: to solve a problem or make it work today? And
• 44:12
  Speaker 4: so I used to set his time set aside time
• 44:16
  Speaker 4: every afternoon. I wanted to listen to every crazy idea.
• 44:21
  Speaker 4: And I used to have my firm tell me it's
• 44:23
  Speaker 4: a total waste of time. And I told them the
• 44:27
  Speaker 4: day that I stopped listening to the next crazy idea
• 44:31
  Speaker 4: is the day we will be not financing the best entrepreneurs.
• 44:37
  Speaker 5: And how many companies did you finance in total? Michael?
• 44:40
  Speaker 4: About about three thousand over the years.
• 44:43
  Speaker 5: My lord.
• 44:44
  Speaker 3: Okay, so okay, here's a little known fact about Michael
• 44:47
  Speaker 3: Milkin and around this back out to I want you
• 44:49
  Speaker 3: to go to this MCT, this Milk and Center. I'm
• 44:51
  Speaker 3: gonna I'm tell you why because right now you can't
• 44:54
  Speaker 3: see me relate to Michael. You've heard the stories. You're like, oh,
• 44:56
  Speaker 3: like this guy's incredible, it's amazing. But I can't relate
• 44:58
  Speaker 3: to Michael Milkin.
• 44:59
  Speaker 4: Hold on.
• 45:01
  Speaker 5: I believe Michael Milkan was a cheerleader in high school?
• 45:04
  Speaker 5: Is that right, Michael?
• 45:05
  Speaker 4: That is correct? And Sally Fields was one of my
• 45:09
  Speaker 4: head song leaders. Unfortunately, have male cheerleaders anymore.
• 45:17
  Speaker 3: It takes to be a male dang a cheerleader in
• 45:19
  Speaker 3: nineteen whatever year it was today.
• 45:22
  Speaker 5: Frankly, I mean, that's amazing. What kind of confidence does
• 45:25
  Speaker 5: that take to become a male cheerleader And he's proud
• 45:28
  Speaker 5: of it. I mean, it's fantastic. You've been beating your
• 45:31
  Speaker 5: own drum your whole life. Is this part of why
• 45:34
  Speaker 5: you like backing outliers and backing people who don't have
• 45:37
  Speaker 5: visibility and backing people who are different? Like what is
• 45:40
  Speaker 5: that thing in you that makes you reach do a
• 45:42
  Speaker 5: little bit extra and make sure that everybody's at the
• 45:45
  Speaker 5: table in your conversations? And time is back to mcad.
• 45:49
  Speaker 3: Is there a place when you come to as a
• 45:51
  Speaker 3: family comes to in cab do they get to leave
• 45:53
  Speaker 3: their inprint somewhere where their presence has been recorded that
• 45:58
  Speaker 3: they're also part of history.
• 46:00
  Speaker 4: Well that they get to leave their picture, they get
• 46:03
  Speaker 4: to leave their story, their family story. They also get
• 46:07
  Speaker 4: to see why why are immigrants so successful in America.
• 46:12
  Speaker 4: Why is that immigrant who came from another world or
• 46:16
  Speaker 4: another place because they think they'll have a better chance,
• 46:21
  Speaker 4: a better chance for their children, a better chance for themselves,
• 46:26
  Speaker 4: a better life. And I think this is our view.
• 46:31
  Speaker 4: My children, children, my grandchildren, and great grandchildren, their life
• 46:39
  Speaker 4: in this country will be highly dependent on every child
• 46:43
  Speaker 4: feeling they have a chance. If every child doesn't feel
• 46:48
  Speaker 4: they have a chance, then my grandchildren and great grandchildren
• 46:53
  Speaker 4: will not have a good life. And I think when
• 46:55
  Speaker 4: you look at polling people, what do they tell you?
• 47:00
  Speaker 4: What is equality? Okay, equality is that everyone should have
• 47:07
  Speaker 4: a chance. Is it equal outcomes?
• 47:10
  Speaker 3: No?
• 47:11
  Speaker 4: No, Only four percent of blacks think it's equal outcome,
• 47:15
  Speaker 4: Only four percent of Democrats, only four percent of whites.
• 47:19
  Speaker 4: Only four percent of Republicans think it's equal outcome. But
• 47:23
  Speaker 4: it is an equal chance. And sometimes, as you have
• 47:28
  Speaker 4: pointed out, what I have found is getting on a
• 47:32
  Speaker 4: floor in a classroom with a kid is convincing him
• 47:36
  Speaker 4: that he has a chance and if you put him
• 47:39
  Speaker 4: in that environment. It was nineteen ninety three and we
• 47:44
  Speaker 4: quiz kids in the very difficult area in West Philadelphia,
• 47:50
  Speaker 4: not too far from the University of Pennsylvania, and it
• 47:55
  Speaker 4: was not that safe an area when I went there
• 47:59
  Speaker 4: in the nineteenth sixties, and it was interesting. Many of
• 48:03
  Speaker 4: the students didn't feel safe in the hood surrounding the school.
• 48:07
  Speaker 4: But what I was surprised at, You say, well, who
• 48:11
  Speaker 4: you like, you're familiar with it, that is, but how
• 48:15
  Speaker 4: many of the kids in the hood didn't feel comfortable
• 48:18
  Speaker 4: walking on a college campus. So I asked him, why
• 48:23
  Speaker 4: are you not comfortable? Come walk with me on school.
• 48:27
  Speaker 4: He says, they're going to ask if I walk there,
• 48:29
  Speaker 4: they're going to ask me questions. And I said to him,
• 48:32
  Speaker 4: like what he told me, like the speed of light.
• 48:36
  Speaker 4: I might not know it's one hundred and eighty six
• 48:38
  Speaker 4: thousand miles a second. Is that what you're telling me.
• 48:41
  Speaker 4: They're not going to ask you the speed of light?
• 48:43
  Speaker 4: And so a lot of times you need to know
• 48:46
  Speaker 4: that they can hold their own. You need to put
• 48:48
  Speaker 4: them in that environment and when they discover they have
• 48:53
  Speaker 4: the same ability or more ability or more Yeah, the
• 48:57
  Speaker 4: kid who grew up on the tough side of the street,
• 49:02
  Speaker 4: who had to work hard his whole life, for her
• 49:05
  Speaker 4: whole life, yeah, you know, has an advantage over this
• 49:10
  Speaker 4: kid who grew up with a silver spoon in their mouth.
• 49:14
  Speaker 4: Really Okay, you think it's an advantage, but they never
• 49:18
  Speaker 4: had it tough. Everything was given to him. And when
• 49:21
  Speaker 4: life gets tough, how are they going to react. I
• 49:25
  Speaker 4: have a friend that's a professor at one of the
• 49:28
  Speaker 4: leading schools, and he sits there and he looks at
• 49:31
  Speaker 4: the class the first day and he says to himself,
• 49:34
  Speaker 4: who got into the school because of their family? And
• 49:39
  Speaker 4: who got into the school because of their ability? That's
• 49:42
  Speaker 4: what he does the first week, can he tell? And
• 49:46
  Speaker 4: after a month he starts to think how long will
• 49:50
  Speaker 4: it be before the kid that got there because of
• 49:53
  Speaker 4: his family is working for the kid that got there
• 49:58
  Speaker 4: because of his ability.
• 50:00
  Speaker 5: I'm talking about And.
• 50:00
  Speaker 4: So when you say today, what are the most valuable
• 50:04
  Speaker 4: companies in the world, you have a guy named Jensen
• 50:08
  Speaker 4: Wage that has the most valuable company in the world
• 50:10
  Speaker 4: called Navidia. He didn't grow up with anything. He came
• 50:14
  Speaker 4: to this country and Jeff Bezos and Steve Jobs was adopted.
• 50:20
  Speaker 5: Jordan Jordanian immigrant as father is at.
• 50:22
  Speaker 4: Jordanian Yeah, so you know they had this drive.
• 50:27
  Speaker 5: Yeah. So so, Michael, as we this has been fabulous.
• 50:30
  Speaker 5: I want to have you come back as we wrap
• 50:33
  Speaker 5: this up. I want to leave. I want them to.
• 50:36
  Speaker 5: I want them to know something cursonal about you that
• 50:39
  Speaker 5: is an insecurity of fear, of something that you grew
• 50:42
  Speaker 5: up with growing as a young person, that there was
• 50:45
  Speaker 5: an insecurity or fear that you turned into a factor
• 50:48
  Speaker 5: for success sometimes that you took it from a negative
• 50:50
  Speaker 5: to a positive, that people can relate to it before
• 50:52
  Speaker 5: you get to that.
• 50:53
  Speaker 4: Uh.
• 50:54
  Speaker 3: I want to drop the Michael on this because you
• 50:57
  Speaker 3: used to talk a little bit about immigrants. I believe
• 50:59
  Speaker 3: that twenty percent of all Fortune five hundred founders. I
• 51:03
  Speaker 3: believe that numbers still correct are immigrants.
• 51:05
  Speaker 4: I believe I know that CEO or founders. CEOs or founders.
• 51:10
  Speaker 3: Got it, and you do you have. It's not about
• 51:13
  Speaker 3: this is not about some soft, sup soft soap moral thing.
• 51:17
  Speaker 3: You believe from a straight business perspective that that folks
• 51:22
  Speaker 3: coming in from Africa or wherever with that drive and
• 51:26
  Speaker 3: that innovation is good for the economy. You've got some
• 51:29
  Speaker 3: numbers that are just unbelievable. Can you just drop some
• 51:32
  Speaker 3: of the numbers. We like math here because it doesn't
• 51:34
  Speaker 3: have an opinion. Drop some of the numbers of.
• 51:38
  Speaker 4: That.
• 51:38
  Speaker 3: People don't know about the demographic realities and the demographic trends.
• 51:42
  Speaker 5: As we begin to wrap this up, bring us home
• 51:45
  Speaker 5: with some powerful numbers.
• 51:47
  Speaker 4: As you start thinking about America today. In the nineteen sixties,
• 51:52
  Speaker 4: seventy five percent of everyone not born in America was
• 51:56
  Speaker 4: born in Europe. They were Caucasian. Okay, Today, less than
• 52:03
  Speaker 4: ten percent of the people in America who were not
• 52:05
  Speaker 4: born here were born in Europe. There are more people
• 52:08
  Speaker 4: born in Africa than were born in Europe. In America,
• 52:13
  Speaker 4: Nigerians are one of the most entrepreneurial, highest performing groups economically.
• 52:21
  Speaker 4: There's a plus and a minus to that. Many of
• 52:25
  Speaker 4: the great Nigerian entrepreneurs are here. They're not building their
• 52:31
  Speaker 4: business in Nigeria because they felt they had a better
• 52:34
  Speaker 4: upside here. They're still great. I did a podcast in Africa.
• 52:40
  Speaker 4: We had three million people in Nigeria alone who defined
• 52:46
  Speaker 4: themselves as entrepreneurs.
• 52:48
  Speaker 3: Wow.
• 52:49
  Speaker 4: And so it's changed. Yes, the largest group that's here
• 52:53
  Speaker 4: today was born in Latin America or born in Asia,
• 52:58
  Speaker 4: and so they are performing. The highest performing educational group
• 53:04
  Speaker 4: in the world as a country of Singapore. As a
• 53:09
  Speaker 4: country might be South Korea, but there's a group in
• 53:12
  Speaker 4: America today that outperforms all of them. And that is
• 53:16
  Speaker 4: South Koreans in America who have come here, they have
• 53:20
  Speaker 4: a higher output education output than South Koreans in South Korea.
• 53:26
  Speaker 4: And Kenyans and Nigerians and people from Ghana do fabulous here.
• 53:33
  Speaker 4: And so it's a question of giving an opportunity. And
• 53:38
  Speaker 4: that's my view. If we're going to build a place
• 53:41
  Speaker 4: that's a the ideal of this stream of upward mobility
• 53:47
  Speaker 4: to the world. This shining light, and we have to
• 53:50
  Speaker 4: shine bright for everyone in this country, and you and
• 53:54
  Speaker 4: I underland what that means. And our future leaders are
• 53:59
  Speaker 4: probably kids that are born in lower socio economic place.
• 54:03
  Speaker 4: They've had hard knocks. I've hired a lot of smart people,
• 54:08
  Speaker 4: but I always teamed them up with a person from
• 54:11
  Speaker 4: the greatest school, the school of hard knocks, so that
• 54:15
  Speaker 4: they're amazing what they could accomplish together.
• 54:19
  Speaker 3: I don't know, Mike, If again we've around of time,
• 54:22
  Speaker 3: this has been a fabulous conversation, maybe we can do
• 54:24
  Speaker 3: a part two or probably three. I don't really know
• 54:26
  Speaker 3: if you can have a leading economy or very specific
• 54:31
  Speaker 3: I don't know that America continue to be the light
• 54:33
  Speaker 3: on the hill, the biggest economy and soul superpower all
• 54:36
  Speaker 3: that without the economic juice of all that you just
• 54:39
  Speaker 3: talked about, all leaned in with everybody else. Are European
• 54:43
  Speaker 3: brothers and sisters, are Africans or Latinos, women, all these Asians,
• 54:47
  Speaker 3: all these different groups, everybody fulfilling their potential, which is
• 54:51
  Speaker 3: what have been the promise of America since its beginning.
• 54:55
  Speaker 3: I don't think that we it's going to be it's
• 54:57
  Speaker 3: gonna be easy to continue to keep this party going
• 55:01
  Speaker 3: if we don't open the app keep the window open
• 55:04
  Speaker 3: for opportunity, and keep the ladder down to the ground.
• 55:09
  Speaker 3: And it just seems to me those numbers to sort
• 55:11
  Speaker 3: of scream at that reality. And I'm actually quite hopeful
• 55:16
  Speaker 3: for the future.
• 55:18
  Speaker 4: John. We have to keep two windows open. One the
• 55:22
  Speaker 4: window of opportunity for everyone in this country to give
• 55:26
  Speaker 4: them a chance, because, as you stated earlier, intellect is
• 55:30
  Speaker 4: evenly distributed. It's in Selma, Alabama. Okay, it's in Tallahassee, Florida.
• 55:38
  Speaker 4: And we got to make sure it's not just in
• 55:40
  Speaker 4: Silicon Valley or in New York City. And second, we
• 55:45
  Speaker 4: got to keep the window of opportunity for those that
• 55:48
  Speaker 4: want to come to this country. So when you come
• 55:50
  Speaker 4: to the center, we have a three story Trump Lloyd
• 55:54
  Speaker 4: painting of sixty eight people that came from fifty eight
• 55:58
  Speaker 4: countries to this and became citizens and changed the world.
• 56:03
  Speaker 4: We also have former President Bushes paintings of immigrants that
• 56:08
  Speaker 4: came to this country. So we want to just stress
• 56:12
  Speaker 4: how important that is.
• 56:14
  Speaker 5: The President Bush is the painter.
• 56:17
  Speaker 4: Well he's but he painted people that came to this country.
• 56:22
  Speaker 4: They came for freedom, they came from a better life
• 56:26
  Speaker 4: and that. And we also have to face the fact
• 56:29
  Speaker 4: that the birth rate in America is in an all
• 56:32
  Speaker 4: time low and the number of children. So if we
• 56:35
  Speaker 4: don't have immigrants, the number of people living in this
• 56:39
  Speaker 4: country is going to drop by forty to fifty million.
• 56:43
  Speaker 5: Wow. Okay, so we are wait between their.
• 56:46
  Speaker 4: Energy and I think for some of your viewers, if
• 56:52
  Speaker 4: you go online and google President Reagan's last speech in
• 56:58
  Speaker 4: the White House about the importance of immigration to this country.
• 57:03
  Speaker 4: So unfortunately you and others have relatives that came to
• 57:09
  Speaker 4: this country not by choice as slaves, but many of
• 57:13
  Speaker 4: them have risen up, and we need to make sure
• 57:18
  Speaker 4: more and more rise up. And I'll tell you right now,
• 57:21
  Speaker 4: when I go to a sports event and there's still
• 57:26
  Speaker 4: if I go and watch the Lakers play. They're still
• 57:29
  Speaker 4: wearing Kobe jerseys. Whether they're white, whether Hispanic, whether they're black,
• 57:36
  Speaker 4: whether they're Asian, they all have got their Kobe because
• 57:41
  Speaker 4: to them, Okay, he wasn't black, he was just a
• 57:46
  Speaker 4: fantastic basketball player. And I think sports is a very
• 57:52
  Speaker 4: interesting thing. John, and I think COVID really hurt the
• 57:56
  Speaker 4: country because we weren't going to sports events. And the
• 58:00
  Speaker 4: story once, as I travel around to more than five
• 58:04
  Speaker 4: hundred baseball games to raise money for Kanser research, I
• 58:08
  Speaker 4: was in Chicago at the CUB game and their star
• 58:12
  Speaker 4: player hit a home run in the late innings and
• 58:16
  Speaker 4: they beat their arch rival, the Saint Louis Cardinals. Everybody
• 58:21
  Speaker 4: was dancing in the stadium. They were hugging. They weren't
• 58:26
  Speaker 4: worried about what your relationship was. They weren't worried about
• 58:29
  Speaker 4: your religion, they weren't worried about your race. Their team
• 58:33
  Speaker 4: had just won, and they stayed in the stadium for
• 58:37
  Speaker 4: almost thirty minutes after the game, cheering. It's amazing how
• 58:43
  Speaker 4: things bring people together. And I think part of our
• 58:48
  Speaker 4: problems today because of COVID is we had a whole
• 58:51
  Speaker 4: year when people never filled they were together or won.
• 58:58
  Speaker 4: They never experienced their team winning in person, and seeing
• 59:03
  Speaker 4: you win and others is a great role model for
• 59:07
  Speaker 4: so many of them. And I couldn't be more excited
• 59:10
  Speaker 4: to be on your podcast, and I look forward to
• 59:14
  Speaker 4: any time in the future you want to do it well.
• 59:18
  Speaker 5: I love you, brother, and I'd love to have you
• 59:19
  Speaker 5: back anytime that you have time. I know you're busy
• 59:22
  Speaker 5: as we wrap this up, Mike, and this has been
• 59:24
  Speaker 5: a great, great session, and I'll see you at this
• 59:27
  Speaker 5: opening and many times on the road doing great things together.
• 59:31
  Speaker 3: From the streets to the suits and back. I want
• 59:36
  Speaker 3: to say this, you're one of the three hundred. This
• 59:41
  Speaker 3: is my statement. It makes you uncomfortable. You probably wanted
• 59:44
  Speaker 3: the three hundred wealthiest people in the world. It's eight
• 59:46
  Speaker 3: billion people in the world. That puts you in an
• 59:48
  Speaker 3: elite club. And with all the other stuff that you've done,
• 59:52
  Speaker 3: the audience might feel there's no way I can relate
• 59:55
  Speaker 3: to that guy. Yeah, he's like a Martian or something.
• 59:58
  Speaker 3: He's just you know, he's just a complete outlier. And
• 1:00:01
  Speaker 3: so it is a nice story, but it doesn't relate
• 1:00:03
  Speaker 3: to me. I need to knock you down a few levels.
• 1:00:06
  Speaker 3: I need to bring you down so that people can touch, you,
• 1:00:09
  Speaker 3: can feel, you can relate to your story, so they
• 1:00:13
  Speaker 3: get fired about their own, fired about their own. Is
• 1:00:16
  Speaker 3: there something that you can share that spoke to a
• 1:00:22
  Speaker 3: moment where you did not see the light, where you
• 1:00:25
  Speaker 3: did not feel right, and somebody helped you turn it around.
• 1:00:31
  Speaker 4: Well, there's plenty of those stories. John, You know that
• 1:00:35
  Speaker 4: young African American man I met in nineteen sixty five
• 1:00:39
  Speaker 4: turned me around. I thought I knew everything. I was
• 1:00:42
  Speaker 4: at Berkeley, we just had the free speech movement. I
• 1:00:45
  Speaker 4: was going to run the space program, and he told
• 1:00:49
  Speaker 4: me I didn't really know meeting a person. When I
• 1:00:53
  Speaker 4: taught school to autistic kids, I thought I was a
• 1:00:57
  Speaker 4: great teacher. And what I did was I was covering
• 1:01:01
  Speaker 4: too many topics. I didn't stay on topic. They were
• 1:01:05
  Speaker 4: not responding to all this different input. So I had
• 1:01:09
  Speaker 4: a big lesson there. When I celebrated our kids in
• 1:01:14
  Speaker 4: Harlem in the nineteen eighties, our scholars, I decided, we're
• 1:01:21
  Speaker 4: going to make them special. We're going to have a
• 1:01:23
  Speaker 4: black tie affair. We're going to show them how special
• 1:01:26
  Speaker 4: they were. Then I discovered their parents weren't coming. They
• 1:01:32
  Speaker 4: didn't have a suit forget a black tie. Okay, So
• 1:01:36
  Speaker 4: I switched it to Sylvia's in Harlem and I sent
• 1:01:40
  Speaker 4: out a note no ties or jackets allowed. Okay, we're
• 1:01:47
  Speaker 4: going to celebrate. So I'm constantly learning. And I would
• 1:01:52
  Speaker 4: say this that you're in different environments and when you
• 1:01:56
  Speaker 4: put yourself into a different environment, that's why we have
• 1:02:01
  Speaker 4: two ears, John, so we can hear twice as much
• 1:02:05
  Speaker 4: as speak. You and I have done a lot of talking.
• 1:02:08
  Speaker 4: But I'm learning. And when I watch those little kids
• 1:02:12
  Speaker 4: come in and see what is affecting them, what do
• 1:02:15
  Speaker 4: they think, I'm learning from that and I'm also therefore
• 1:02:21
  Speaker 4: can adjust what did they take away from it. That's
• 1:02:25
  Speaker 4: why I go and sit on the floors. I'm not
• 1:02:29
  Speaker 4: going to sit in a chair. I'm not going to
• 1:02:30
  Speaker 4: sit up above them. A lot of times when I
• 1:02:33
  Speaker 4: want to talk to kids, I tell them, let's go
• 1:02:35
  Speaker 4: sit on the floor.
• 1:02:37
  Speaker 5: Right.
• 1:02:37
  Speaker 4: And so I'm you learn. There is this famous phrase
• 1:02:44
  Speaker 4: and meaning in the back and that is you learn
• 1:02:46
  Speaker 4: more from your students then you learn from anything else.
• 1:02:51
  Speaker 4: And so interacting with students and I've learned a lot
• 1:02:55
  Speaker 4: from you over the years, John, and I'm going to
• 1:02:57
  Speaker 4: keep learning and I'm going to do even better job.
• 1:03:00
  Speaker 4: But I want you to know money does not buy happiness.
• 1:03:04
  Speaker 4: It buys freedom, right, but it doesn't buy happiness. Right.
• 1:03:09
  Speaker 4: And you can buy I've told you you can buy
• 1:03:12
  Speaker 4: a house, but it doesn't make it.
• 1:03:14
  Speaker 5: A home, that's right.
• 1:03:16
  Speaker 4: It's the people in it that make it a home,
• 1:03:18
  Speaker 4: that's right. And so you and I can make a
• 1:03:22
  Speaker 4: list of a lot of wealthy people. All they have
• 1:03:25
  Speaker 4: is unhappiness in their life.
• 1:03:27
  Speaker 5: Whoo and you speaking a word, then we.
• 1:03:32
  Speaker 3: Have been to those places together, be very very unhappy
• 1:03:37
  Speaker 3: seemingly wealthy, financially wealthy people. Look, this has been an
• 1:03:41
  Speaker 3: incredibly special session together. And I hope that the audience
• 1:03:46
  Speaker 3: is half as inspired as I have been. And you
• 1:03:48
  Speaker 3: connected a dot from me. I had not put these
• 1:03:51
  Speaker 3: two things together. But you are really I mean, you
• 1:03:54
  Speaker 3: have such a strong personality and such a strong view,
• 1:03:56
  Speaker 3: and you're so intelligent. Most people just leave you alone
• 1:03:58
  Speaker 3: and let you riff because and I guess I'm the
• 1:04:01
  Speaker 3: same way. My wife caused me a double alpha. People
• 1:04:03
  Speaker 3: let me go and they go and let John lead,
• 1:04:06
  Speaker 3: let Mike lead. But when you and I are together,
• 1:04:08
  Speaker 3: we mix it up. People don't know this. We're on
• 1:04:10
  Speaker 3: the phone. You're telling me something. I may say, Mike,
• 1:04:12
  Speaker 3: I disagree with that, respectfully. Or I may say something
• 1:04:15
  Speaker 3: you say, John. Just two days ago, you said, John,
• 1:04:17
  Speaker 3: I think there's another way of doing that. How about
• 1:04:19
  Speaker 3: this idea. I didn't agree with you initially. Well it's
• 1:04:22
  Speaker 3: maybe four days ago, but I.
• 1:04:23
  Speaker 5: Agree with you now.
• 1:04:24
  Speaker 3: And there's been situations where I said something you said, well,
• 1:04:26
  Speaker 3: I'm not sure about that, John, and then a month
• 1:04:28
  Speaker 3: later I hear you saying something.
• 1:04:29
  Speaker 5: You say, well, you know, I've changed my view.
• 1:04:31
  Speaker 3: So we learn from each other because we're nosy and
• 1:04:34
  Speaker 3: we're constantly learning, both of us. But I didn't ascribe
• 1:04:38
  Speaker 3: that to you. I assumed I was a student. Well,
• 1:04:40
  Speaker 3: I just learned, and I'm learning something. And also every time,
• 1:04:43
  Speaker 3: including today, Mike is a lifetime learner.
• 1:04:47
  Speaker 5: That's his key. I want everybody listening to this to
• 1:04:49
  Speaker 5: be a lifetime learner. I want you to be nosy.
• 1:04:52
  Speaker 3: I want you to know that, as he said, God
• 1:04:54
  Speaker 3: gave you two ears in one mouth, you listen twice
• 1:04:57
  Speaker 3: as much as you talk. And I want you to
• 1:04:59
  Speaker 3: be nosy, curious and obsessed with your version of the
• 1:05:03
  Speaker 3: renewal of the American dream, and that starts with you
• 1:05:07
  Speaker 3: going to see the new Milk and Center at the
• 1:05:10
  Speaker 3: Advancement in the American Dream in Washington, d c our
• 1:05:15
  Speaker 3: Nation's capital that belongs to us people, all of us.
• 1:05:20
  Speaker 3: Or see you at the finish line when you go there,
• 1:05:22
  Speaker 3: asking Mike's around, if he's around, if she'll come down
• 1:05:25
  Speaker 3: and shake your hand, take a picture.
• 1:05:27
  Speaker 4: What we do know is they'll get to talk to
• 1:05:29
  Speaker 4: you and see you and that finance killer.
• 1:05:34
  Speaker 5: Yeah, suppose you guys, let me know.
• 1:05:36
  Speaker 3: You let me know whether they somebody snatchs me off
• 1:05:39
  Speaker 3: of the off of the presentation board.
• 1:05:41
  Speaker 5: Mike tells me out there, this has been a great session.
• 1:05:44
  Speaker 3: This is Money and Wealth on the Black Effect Network
• 1:05:47
  Speaker 3: on the iHeart platform, a global platform for this podcast,
• 1:05:52
  Speaker 3: Money and Wealth Season two with Michael Milkin. Money and
• 1:06:10
  Speaker 3: Wealth with John O'Brien is a production of the Black
• 1:06:13
  Speaker 3: Effect Podcast Network. For more podcasts from the Black Effect
• 1:06:17
  Speaker 3: Podcast Network, visit the iHeartRadio app, Apple Podcasts, or wherever
• 1:06:21
  Speaker 3: you listen to your favorite shows.
• 1:07:51
  Speaker 2: Thanks for listening and celebrating five years of the Black
• 1:07:54
  Speaker 2: Effect Podcast Network with us. Keep following you because the
• 1:07:57
  Speaker 2: next five years are about to be even bigger.