Latest / Real Donald Trump Wisdom / The Apprentice US - Season 1, Episode 1 - Meet the Billionaire (2004)

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The Apprentice US - Season 1, Episode 1 - Meet the Billionaire (2004) · Real Donald Trump Wisdom

• 0:00
  Hey guys, very excited to be back. This time
• 0:03
  to talk about The Apprentice US, Donald Trump's
• 0:06
  reality TV show. So we're going to start off
• 0:09
  with Season 1, Episode 1, Meet the Billionaire.
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  So in this show, basically, there are 16 contestants
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  from all over the United States, from all walks
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  of life. You have people with only high school
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  diplomas, or excellent at sales, people with
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  Harvard MBAs, or... with an MD and an NYU MBA.
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  So you really have like a whole spectrum. One
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  that has a PhD and who's a political consultant.
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  You have all types of skill sets. So Trump chose
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  from thousands of applicants these 16 contestants.
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  And you have an interesting mix. So eight men,
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  eight women. And he makes the choice early on
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  to divide them as... by gender, basically, to
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  have two teams set up, male and female. And it's
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  going to be interesting to notice the dynamics.
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  Trump is advised by George Ross, one of his legal
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  counsel, and he's going to be the coach for the
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  female team. And he has a female advisor who's
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  going to be the coach for them. The first challenge
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  he's going to give them, by the way, eventually
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  what's going to happen is they're competing for
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  the chance to be president of one of Trump's
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  companies for one year and to have a very high
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  salary. So they're all competing to become The
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  Apprentice and to come under Trump's wing. And
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  to that, Trump's going to give them a challenge
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  every week. And every week there will be one
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  team that has done more poorly on the challenge
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  who is going to be responsible for that poor
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  performance. And basically they're going to select
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  the project manager and the two people who were
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  least helpful. And they'll be the ones considered
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  basically to be fired. After 15 episodes. We'll
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  come to the last one who's going to be the winner.
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  So this is how it's going to play out over the
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  next few weeks. The challenge this week is basically
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  to set up a lemonade stand and to sell lemonade.
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  So Trump is already showing the contestants,
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  no matter how qualified they are or how educated
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  they might be, how resourceful you have to be
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  to really get things done. He's putting them
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  with a small budget in New York City. He's giving
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  them one day to see how much lemonade they can
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  sell, how much they can generate. So you have
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  the man, the woman, trying to be as resourceful
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  as possible. He's choosing a different location
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  and trying to get maybe free tables or cups from
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  nearby restaurants or vendors. And eventually
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  Trump is going to very clearly, we're going to
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  see that the men have an issue with the location.
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  They're not, they haven't picked a good location.
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  And Trump is going to share very practical advice
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  that he thinks on location. So let me play that
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  for you. Always felt location is important, but
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  the people behind the deal are much more important
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  than location. I'd much rather have a really
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  smart, talented guy doing a deal in a not so
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  good location than an idiot doing a deal in a
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  great location because you'll make money every
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  time. Always felt location is important. All
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  right, so we see Trump here as basically saying
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  that even though location is very important,
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  we know that location, location, location is
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  a tenant of real estate, that it's much more
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  important to do business with a reasonable and
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  trustworthy person than if you have the wrong
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  partner, even with the best location, it can
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  turn sour. Whereas if you're dealing with the
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  right person, even a not so good location can
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  turn out better so it is important the location
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  but what's much more important is the person
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  you're doing business with so this is one of
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  the first uh takeaway all right so as i said
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  the the men are going to do poorly in this challenge
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  and they'll be the ones confronted in the boardroom
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  you know basically to designate who were the
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  poorest performers among their team and who might
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  eventually get fired. And I want you to listen
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  to this interaction that Trump had with one of
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  the contestants, and then I'll comment on it.
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  I understand that, but I'm not just going to
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  talk the talk. Everybody here is a good leader.
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  I'm not going to argue with that, and I'll stick
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  up for everybody on that. But they were saying
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  that Troy isn't a good leader. Well, I didn't
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  finish. I'm saying that... Now, Jason, let me
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  just say something. When you're trying to be
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  chosen by someone, you don't interrupt them and
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  say, let me finish. That's number one, you know,
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  in terms of life. We're talking about life, right,
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  fellas? Yes, sir. So when I ask you a question,
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  and I'm not finished with the question, you don't
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  say, let me finish. That's a bad move. You know,
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  Jason, you can sit. All right. So basically,
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  George Ross is asking one of the contestants
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  why he's not talking that much, like why he's
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  not giving any feedback. And the person quickly
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  says, you know, gives a generic answer to which
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  Trump interrupts him and asks another question.
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  And basically he interrupts Trump back. And that's
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  it. A bit disrespectful if you see video, you
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  see the difference in age, you see the difference
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  in status. Basically, Trump is just reminding
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  him that if he seeks to get something from Trump,
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  so the validation or his respect, he should definitely
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  be more careful in his speech. So basically to
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  be careful when you're, you should try. in a
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  way to please the person whose favor you're seeking.
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  He wants approval from Trump. You shouldn't dismiss
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  or interrupt or interject like that. That was
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  the first one. The second one is another excellent
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  take, again, in the same interaction, pretty
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  much. David, a leader is supposed to listen,
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  take everything in, and then at that point decide
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  what's going on, not all of a sudden get out
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  of the gate and start delegating. Do you think
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  they would have listened to you? Yeah, because
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  I would have listened to them. See, I think that's
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  business school stuff. You have to act. Not just
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  listen. Troy. It's easy to answer these questions
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  today because you're a Monday morning quarterback.
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  You're right. All right, so Trump thinks that
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  he's seeking consensus. all the time. You know,
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  Trump is credited to being a very good listener
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  in the White House and in other places. He really
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  seeks counsel from many different sources. Here
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  he's saying that it's basically business quotes,
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  basically very theory -oriented to think that
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  before acting, you have to just come to an absolute
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  consensus. It's very hard to do, first of all.
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  And second of all, you're losing precious time.
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  So Trump is going to favor... the ball right
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  to favor the action and favor quick decision
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  making you'll see this as a recurring theme he
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  wants to come to decision quickly and not he's
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  really the the antithesis of the the person who
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  loves to do committees after committees after
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  committees he wants to go straight for the action
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  that makes the most sense um so that was another
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  interesting comment and now we'll get closer
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  to who's going to get eliminated i won't really
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  hopefully not spoil too much, but there's a project
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  manager and two contestants. One knew that he
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  was going to be put up for elimination and he
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  was very proactive. Basically, he wrote a list
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  of pros and cons of each of his competitors to
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  show to Trump how he thinks pretty much. And
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  the other person was not as prepared. First of
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  all, he didn't... Didn't expect maybe to be nominated,
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  but this is what he says when he's asked about
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  his performance. David, if you were the team
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  leader, do you think the result would have been
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  different? Not in this case, because sales is
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  not my forte. Right. So he admits that sales
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  is not his forte, even though he knows that the
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  top line is extremely important in real estate
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  and for any of Trump's business friends, sales.
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  It is really the lifeblood of any business. And
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  admitting so openly to his lack of expertise
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  in this field is really shooting himself in the
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  foot. And this is the person who is going to
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  be eliminated. And this person, for you to understand
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  the caliber... uh my perception of the caliber
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  of the apprentice is that the first person on
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  the first episode of the first season of their
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  apprentice to be eliminated is a person who's
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  a medical doctor an md mba who's a venture capitalist
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  investing in biotech so this gives you an idea
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  of truly that book smart and street smarts are
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  uncorrelated and that people who are extremely
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  book smart should make an effort to go on the
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  other side. And of course, people who are very
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  street smart should do the effort to complement
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  perhaps with books. But I think this clearly
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  illustrates that relying on formal education
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  is not enough to succeed, of course, in the real
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  world. And also throughout the show, he was less...
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  he didn't portray competence. He portrayed more
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  agreeableness. He tried to be friends or overly
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  friendly with customers more than being value
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  -added. You'll see it in specific ways. won't
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  spoil it and finally the reward for the ladies
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  it was to getting to visit Trump's apartment
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  and to get introduced to Melania Trump and after
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  the tour so they're very impressed Trump has
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  a massive penthouse with marble gold everywhere
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  it is a very impressive tour and at the end he
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  basically tells the women that this was just
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  kind of to motivate them but that they have to
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  put back their competitive hat suggesting that
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  competition is on and to not be distracted by
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  this, you know, by this opportunity. So here
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  is how this sounds. So this is the beginning.
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  Now you have to put on your competitive hat again,
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  forget about this and go out and work and see
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  how you can do because you want to win. All right.
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  So not be distracted by, even I heard this in
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  another speech today. don't believe your own
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  press or your own encouragement. The fact that
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  they won this first challenge means nothing for
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  what's going to come next. They shouldn't rest
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  on their laurels. Trump said that at some point
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  he saw articles saying that he had everything
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  touched, turned to gold, and he really believed
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  it. And then he took uncalculated risks, and
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  that led him to trouble in the early 90s. You
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  want to celebrate when it's due, but to not let
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  it get to your head and keep your eyes on the
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  prize. So basically like he's telling them to
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  put back the competitive hat to continue the
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  competition. So I hope you appreciate this first
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  look at the first episode of the first season
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  of The Apprentice. I'll try to continue covering
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  these as we go along also. with the books in
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  parallel. Thanks a lot for tuning in.