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CEO MADE $120 MILLION FROM HEALTHCARE · Earn Your Leisure

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Speaker 2: This episode is sponsored by Greenwood. My graduates from my
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Speaker 2: drop drops. All right, guys, welcome back, eyl. We are
1:08
Speaker 2: in La Sunny, Los Angeles, and this is something that
1:13
Speaker 2: we've been looking forward to for a while. It's gonna
1:14
Speaker 2: be a dope conversation. So healthcare is actually fitting because
1:18
Speaker 2: we just spoke about this on Market Monday's House, just
1:20
Speaker 2: thinking healthcare is the biggest business in the world. It
1:23
Speaker 2: makes up twenty four percent of the American budget, which
1:26
Speaker 2: is the biggest by far. Second to that is the
1:29
Speaker 2: military I think of like fifteen percent. So when you
1:32
Speaker 2: think of businesses, a lot of time we think of
1:34
Speaker 2: you know, a lot of different industries, but people don't
1:36
Speaker 2: necessarily think of healthcare as a business. It is a business.
1:39
Speaker 2: The biggest business is recession proof. It's everything proved, big business.
1:43
Speaker 2: People always die, people always go to the hospital, people always,
1:46
Speaker 2: you know, get sick. So it's one of the things
1:49
Speaker 2: that has been around since the beginning of time, so
1:53
Speaker 2: isn't going anywhere. So today we have the privilege of
1:56
Speaker 2: speaking with not just any entrepreneur, an entrepreneur that has
2:00
Speaker 2: been in the business for a very long period of
2:01
Speaker 2: time and has been extremely successful. Tommy Duncan. So you
2:06
Speaker 2: might have heard him when we when we mentioned his
2:09
Speaker 2: name in the Rick Ross interview. He has a company
2:12
Speaker 2: called jet Doc and Rick Ross is an investor. I
2:14
Speaker 2: think he invested like a million dollars into the company, right,
2:17
Speaker 2: and so we mentioned him during that interview and we
2:20
Speaker 2: spoke about it briefly. But he has a vast career
2:24
Speaker 2: in the health industry. He actually sold his first company
2:27
Speaker 2: a while back need about a million million and a half.
2:30
Speaker 2: And then he sold this other company and then did
2:33
Speaker 2: a whole bunch more money. Yeah, over one hundred millions. Yeah, yeah,
2:37
Speaker 2: for sure. So and now he started jet doc. So
2:41
Speaker 2: it's a very interesting conversation, I'm sure, a very educational conversation.
2:45
Speaker 2: And we'll be remiss if we didn't acknowledge our brother
2:47
Speaker 2: Dame Dash, who we have a mutual relationship with. So
2:52
Speaker 2: game actually just wrapped up a movie on Tommy's life
2:56
Speaker 2: called The Prince of Detroit. So a shout out to
3:01
Speaker 2: my brother, Dame Dash. We was at his house yesterday
3:04
Speaker 2: and he showed us the trailer to the movie and
3:07
Speaker 2: he was very excited about it. He's very excited about
3:10
Speaker 2: you as an entrepreneur. You know, gave us some background information.
3:14
Speaker 2: So shout out to Day. Yeah, shout out to Daan,
3:17
Speaker 2: So first and foremost, thank you for joining us. Appreciate it.
3:19
Speaker 3: Hey, No, it's good to be here, man, And it's
3:22
Speaker 3: at Prince to Detroit film on IG Yeah, okay, yeah,
3:24
Speaker 3: you gotta check it out. But here's something that's funny.
3:27
Speaker 3: You talk about healthcare. It is by far the largest
3:29
Speaker 3: economic injured in this country. But it's ugly money, so
3:33
Speaker 3: no one really pays attention to pays attention to it.
3:35
Speaker 3: You know, it's not entertainment anything sexy like that. But
3:38
Speaker 3: I just got back from Paris for fashion Week, so
3:42
Speaker 3: that the hottest show Balmon and I was there with
3:45
Speaker 3: a group of ten couples which were the VIP clients
3:49
Speaker 3: for the country, And out of those ten couples, at
3:53
Speaker 3: least five of the dudes were in healthcare. So you
3:56
Speaker 3: think about fashion, all this sexy shit. You know, Cardi's
3:59
Speaker 3: there all set and all that stuff. Yeah, that's part
4:01
Speaker 3: of it too. But the folks with the money is
4:02
Speaker 3: actually spending in healthcare. Right, So like Rashad, I live
4:06
Speaker 3: ten minutes from where we are, and my neighbors most
4:11
Speaker 3: of them are in health care.
4:14
Speaker 2: That's interesting.
4:15
Speaker 4: We're in Hollywood. In Hollywood, they in healthcare.
4:18
Speaker 2: Yeah, so how did you get started? Yeah, you're a
4:21
Speaker 2: black man from Detroit, Michigan, So how did you get
4:25
Speaker 2: started in healthcare? Because the interesting thing that Dane was
4:27
Speaker 2: talking us, he was like, make sure you're asked him
4:29
Speaker 2: about this, Like it was like his family is already
4:31
Speaker 2: in the business, Like he actually already had the information
4:35
Speaker 2: and the knowledge and he grew up in the industry,
4:38
Speaker 2: and that's something that's very rare, especially in our community,
4:41
Speaker 2: Like we don't even go to the doctor majority of
4:43
Speaker 2: the time, and we have a bad relationship with medicine
4:46
Speaker 2: unfortunately and doctors, so let alone actually being in the business.
4:52
Speaker 2: So how did that go about as far as your
4:53
Speaker 2: family and then you growing up in that?
4:55
Speaker 4: Yeah, so I did you know?
4:56
Speaker 3: My mother was always been in healthcare and she got
5:01
Speaker 3: with my stepfather in about nineteen ninety, so the time
5:04
Speaker 3: I was ten years old and he was entrepreneurial, she
5:07
Speaker 3: was academic. They came together and ended up buying a hospital.
5:12
Speaker 3: It's one of the last black for profit, black owned
5:15
Speaker 3: hospitals with the neighbor It was called Southwest Detroit Hospital,
5:18
Speaker 3: but they renamed it United Community Hospital. They bought it
5:22
Speaker 3: from hud It was the seventy five million dollar hospital
5:25
Speaker 3: when it was built, but they bought it for two
5:26
Speaker 3: million dollars because it was in receivership bankruptcy. So they
5:31
Speaker 3: bought that and then they coupled it with a HMO
5:35
Speaker 3: Health Maintenance organization essentially an insurance company for low income
5:39
Speaker 3: people people on Medicaid. So they operated that through the
5:42
Speaker 3: nineties and then so when they operated, I grew up
5:45
Speaker 3: in it. So literally, when I was twelve, thirteen, fourteen
5:47
Speaker 3: years old, I was on the sales team and I
5:50
Speaker 3: would go door to door in the projects and you know,
5:54
Speaker 3: different communities where there was a large population of people
5:57
Speaker 3: and go door to door and ask people to sign up
5:58
Speaker 3: for Medicaid.
5:59
Speaker 4: My parent company is called Ultimate, So I.
6:01
Speaker 3: Grew up selling people on health insurance for low income.
6:05
Speaker 3: And then the other time I spent I was actually
6:07
Speaker 3: at the hospital painting the basement, being a janitor and
6:10
Speaker 3: all that kind of stuff. But through that by Osmosis,
6:14
Speaker 3: I learned the business. And uh through the nineties they
6:19
Speaker 3: had a business. I think if their apex, they're doing
6:21
Speaker 3: about forty million dollars a year in revenue, which at
6:23
Speaker 3: the time was a whole lot of money. You know,
6:25
Speaker 3: now things are different, it's a lot more money out here,
6:26
Speaker 3: but then that was a lot of money. They employed
6:29
Speaker 3: the most black people for any black business, and that's
6:32
Speaker 3: how I grew up.
6:33
Speaker 2: You know.
6:35
Speaker 4: Then I went to Fourida and m got my NBA
6:37
Speaker 4: in five years.
6:39
Speaker 2: You yeah he went there for yeah, yeah, who did
6:43
Speaker 2: my brother? All right?
6:44
Speaker 4: What happened?
6:45
Speaker 2: He got home sick? He went with to Saint John's,
6:47
Speaker 2: went back to New York.
6:47
Speaker 4: He got homesick from fam. I never heard that.
6:50
Speaker 1: Yeah, probably was there around the Saint John h that's
6:54
Speaker 1: his story.
6:54
Speaker 4: I ain't withally.
6:56
Speaker 3: We told y'all, you probably got some babies running around.
7:03
Speaker 3: The fan was amazing. But I came back with my
7:05
Speaker 3: NBA and I thought I was going to take my
7:08
Speaker 3: family's business to the next level, and unfortunately, around the
7:11
Speaker 3: same time, they end up losing everything. So you know
7:15
Speaker 3: what most black businesses do, particularly then without mentorship, which
7:19
Speaker 3: is what you are providing, which is what's missing in
7:21
Speaker 3: our community, mentorship.
7:23
Speaker 4: So what happens for us is those that.
7:25
Speaker 3: Are entrepreneurial gumption go out and then usually like anybody else,
7:29
Speaker 3: we are met with failure. Right, it doesn't go right,
7:32
Speaker 3: and then a lot of times, unfortunately we don't try
7:35
Speaker 3: again because with scar financially, emotionally and all that kind
7:38
Speaker 3: of shit.
7:39
Speaker 2: Excuse me, all that kind of stuff.
7:42
Speaker 3: But that's what the wisdom is when you have the challenge,
7:44
Speaker 3: and so the right thing to do is come back
7:45
Speaker 3: into it and try again, do it smart and be successful.
7:48
Speaker 3: But most people, for whatever reason don't do that. But
7:52
Speaker 3: my parents ended up investing everything in the hospital in HMO,
7:57
Speaker 3: so much so that when it all went under, they
7:58
Speaker 3: had no money in the bank. Like they put up
8:01
Speaker 3: the house in the business, they put it all in there,
8:04
Speaker 3: so we had the biggest house in Detroit. They literally
8:06
Speaker 3: put it up trying to save the hospital when they
8:09
Speaker 3: started going under, versus realizing your business is important, but
8:13
Speaker 3: it's not you. It's separate. It's a separate endity. So
8:15
Speaker 3: treated as such. But of course they didn't. And then
8:18
Speaker 3: it was just like you know, American gangster.
8:22
Speaker 2: When he sees out, huh which part when he lost
8:25
Speaker 2: the house and.
8:25
Speaker 3: They lost the house, they lost the first and everything,
8:28
Speaker 3: the diamond my mother had a twelve care diamond ring
8:30
Speaker 3: probably worth a million dollars. Now had the hawket, you
8:33
Speaker 3: know what I'm saying, lost everything. But for me, then
8:37
Speaker 3: I decided, you know, I'm going to take it and
8:40
Speaker 3: just build my own company and live on a legacy.
8:43
Speaker 2: So I did it. So I did that.
8:44
Speaker 3: Twenty six I started my own healthcare company, my first one,
8:48
Speaker 3: and then sold it.
8:49
Speaker 4: By a year later. That was cs CCS Care Compensation Specialist.
8:53
Speaker 2: So what was that? What kind of company was that?
8:55
Speaker 3: So there was this dude who used to work for
8:57
Speaker 3: my parents selling insurance. Like I remember mentioning going do
8:59
Speaker 3: it door Medicaid. Well, he was a real smooth guy,
9:03
Speaker 3: kind of looked like at the bar's brother. He name,
9:09
Speaker 3: I can't name the name, but anyway, I heard that
9:12
Speaker 3: he had started his own company doing Medicaid enrollment for hospitals.
9:15
Speaker 3: So he had got this partnership with the CEO of
9:17
Speaker 3: a hospital in Detroit, and the whole business was someone's uninsured.
9:21
Speaker 2: By law, the hospital has.
9:23
Speaker 3: To take care of him no matter what the case
9:25
Speaker 3: is that they have no ability to pay. But then
9:27
Speaker 3: if you could do the paperwork to get that person
9:30
Speaker 3: enrolled in Medicaid. So the ID you know, doctor Bill's
9:34
Speaker 3: pir certificate, things that proved to the state who they
9:36
Speaker 3: are Medicaid was then retroactively reinmbursed the hospital for services.
9:40
Speaker 4: And he would charge like.
9:41
Speaker 3: Twenty percent of the reimbursement, which you could have a
9:45
Speaker 3: nick you baby cost a million dollar bill, be a
9:46
Speaker 3: million dollar bill, right, so if you're getting twenty center
9:49
Speaker 3: that he made twenty thousand dollars to doing paperwork. He
9:51
Speaker 3: was making so much money it was crazy. Like he
9:54
Speaker 3: literally was married and bought a big house and moved
9:57
Speaker 3: his girlfriend to the house with his wife and his kids.
10:00
Speaker 2: Let the girlfriend lived with that.
10:01
Speaker 3: That's kind of money. He was making everything. You could
10:03
Speaker 3: do anything with enough money.
10:05
Speaker 2: Detroit, Detroit play.
10:06
Speaker 3: I'm saying, when you at Detroit something like that and
10:08
Speaker 3: not my household ain't gonna ride. But I'm saying, like
10:10
Speaker 3: a Detroit at the time, he literally moved his girlfriend
10:12
Speaker 3: with his wife.
10:13
Speaker 4: He had palm trees flown in. He was making money.
10:15
Speaker 4: But my whole thing was in to d where it's colored.
10:21
Speaker 3: But the whole thing was he had lost it because
10:25
Speaker 3: they had found out that CEO was in his pocket
10:28
Speaker 3: or vice versa, and so he lost the contract. And
10:31
Speaker 3: so me, yeah to the street, Okay, boom, I'm gonna
10:34
Speaker 3: go figure out. I'm gonna get the contract. So I
10:36
Speaker 3: went and met with his chief operating officer and persuaded
10:40
Speaker 3: her to come work with me, and then I did
10:42
Speaker 3: some other things get a contract, and that's how I
10:44
Speaker 3: started my first company.
10:45
Speaker 1: Can we go back just for a second, because you
10:48
Speaker 1: were obviously were born into the healthcare industry, but you
10:51
Speaker 1: your entrepreneurial journey had.
10:53
Speaker 2: A lot of stops.
10:54
Speaker 1: Yeah, right, So I know that that you had the
10:55
Speaker 1: ice cream truck at fam you did, you did the
10:58
Speaker 1: fish and sandwich. What did you learn from those businesses
11:02
Speaker 1: that said, you know what, this isn't gonna work, because
11:04
Speaker 1: you immediately said they didn't work, but you learned.
11:07
Speaker 2: Let me go back to my passion.
11:08
Speaker 3: No, for sure, So ice cream truck, like you said,
11:12
Speaker 3: you know, I was doing that because to my surprised
11:14
Speaker 3: I mean, how you in Florida don't have ice cream
11:16
Speaker 3: trucks and Detroit it's cold to much out of here,
11:18
Speaker 3: you have ice cream trucks during the summertime. So I
11:20
Speaker 3: had my tahoe converted to ice cream truck. I was
11:22
Speaker 3: playing Masterpiece of ice Cream Man, which was you know
11:25
Speaker 3: what I mean, the biggest song on the radio at
11:26
Speaker 3: the time.
11:28
Speaker 4: But you had to have like what ice, you had
11:30
Speaker 4: to have hot ice.
11:31
Speaker 3: In anyway, then my ice cream was melting and I
11:35
Speaker 3: really didn't like it.
11:36
Speaker 4: Like I was. I enjoyed being a dude who pulled
11:38
Speaker 4: up in the tahoe with.
11:40
Speaker 3: The ice cream Man playing, but I didn't like the
11:43
Speaker 3: process of working on the ice cream itself. Then I
11:47
Speaker 3: end up starting these these sandwich shops, the Fries Palm
11:50
Speaker 3: Fritz Fries in the Cone because I was in Amsterdam
11:53
Speaker 3: and the coffee shops drinking a lot of coffee came out
11:56
Speaker 3: and I was hungry for whatever reason. And at these
11:58
Speaker 3: fries in the cones, I'm like, I'm about to be
12:00
Speaker 3: the next Rondalm McDonald. I'm about to bring this stuff
12:02
Speaker 3: to the United States. I'm about to kill McDonald's. But
12:05
Speaker 3: I came back and I did it. And I quickly
12:07
Speaker 3: realized even though I could grow the business because I
12:09
Speaker 3: could sell, I didn't like coming in, you know, having
12:14
Speaker 3: a machine where it had to cut and peel the fries.
12:17
Speaker 3: There's too much work, and then you have people complained,
12:20
Speaker 3: then the grease gets dirty. It's just I didn't like
12:22
Speaker 3: the businesses so so even though I had built them,
12:25
Speaker 3: I didn't like it, so they ultimately all failed. Even
12:28
Speaker 3: though I got in the airport, I was twenty two,
12:29
Speaker 3: I had a restaurant in the airport. I was in
12:30
Speaker 3: the malls on the street side next to Florida State.
12:34
Speaker 3: I didn't love the business, so it wasn't working. And
12:38
Speaker 3: then I got lost in the business too, Right, So
12:40
Speaker 3: what can happen if it's not working the way I plan?
12:42
Speaker 3: Which be the next Ronom McDonald? I started doing different things.
12:46
Speaker 3: I lost my way.
12:47
Speaker 4: So then I added shrimp to the menu, right, so
12:50
Speaker 4: you know.
12:50
Speaker 3: Black folks love shrimp. I'm up late, I'm open late,
12:53
Speaker 3: and I need to have fried shrimp. Well, then I started.
12:56
Speaker 3: I was in Florid, so said let me do some
12:57
Speaker 3: Caribbean things. And I had some Caribbean foods and rice
12:59
Speaker 3: and being so before you know it, I lost my
13:01
Speaker 3: way with the company with a business, so ultimately failed.
13:06
Speaker 3: But then I went back, came back to Detroit, and
13:08
Speaker 3: I came into healthcare because I knew healthcare. I knew
13:10
Speaker 3: it was I even knowing that I knew it, you know, Like,
13:13
Speaker 3: so the biggest decisions I made in my last company
13:15
Speaker 3: that I sold to Blue Cross, I knew just through
13:19
Speaker 3: Osmosi's living, I mean, just living my life as a kid,
13:23
Speaker 3: remembering decisions that my parents made in their health care business.
13:27
Speaker 1: Yeah, so you ended up selling the first business, right,
13:31
Speaker 1: but you didn't just take cash, right, so it was
13:33
Speaker 1: like a stock option and.
13:34
Speaker 3: The first healthcare business. Yeah, I got stock options. So
13:37
Speaker 3: that's a funny story. I don't know if you want
13:42
Speaker 3: the whole story, but long story short, this company I
13:46
Speaker 3: was doing back in work because I didn't get a
13:48
Speaker 3: primary contract I was doing back in so basically their
13:50
Speaker 3: primary vendor. They couldn't ge folks and roll to Medicaid.
13:53
Speaker 3: They gave me the second shot. I was a garbage man.
13:55
Speaker 3: But for me, of course, I got them all to
13:58
Speaker 3: prove because that was my opportunity. And through doing so,
14:02
Speaker 3: this big company who just was on this pathway to
14:04
Speaker 3: go public, had decided they wanted to come visit me
14:07
Speaker 3: and either do one of two things, do a strategic
14:10
Speaker 3: partnership with me. When selling me charging twenty percent of reimbursement,
14:13
Speaker 3: I charged eight to ten percent. But I would get
14:15
Speaker 3: a bigger volume of work or they would buy my company.
14:19
Speaker 3: And so they came to visit me. I was in
14:21
Speaker 3: the shared office space like we work. I just had
14:24
Speaker 3: one office. Well, I had like two officers in there,
14:27
Speaker 3: and they had a shared conference room.
14:29
Speaker 4: And I paid.
14:29
Speaker 3: People to act like they work from me. You know,
14:31
Speaker 3: I paid like forty bucks a day. I gave them
14:33
Speaker 3: a one pager with you know, three bullet points. This
14:36
Speaker 3: named the company. You know what I'm saying. This is
14:38
Speaker 3: one page, you know, one line of what we do.
14:40
Speaker 3: And anyway, so I sold those folks and I didn't
14:42
Speaker 3: want to actate to work for me. But I sold
14:44
Speaker 3: the people on buy my company and I got stock options,
14:47
Speaker 3: so they made me a scene director. They gave me
14:50
Speaker 3: which is the time I was spent myself forty grand
14:52
Speaker 3: a year my own company. They paid me two hundred
14:53
Speaker 3: thousand a year. I was twenty seven and they gave
14:56
Speaker 3: me a thousand stock You know, That's what Dean was
14:59
Speaker 3: telling on us. He was like, make sure you asked
15:01
Speaker 3: him about that. He started a company with a virtual
15:03
Speaker 3: regio's office and sold the company.
15:06
Speaker 4: D I did it twice though that was my first time.
15:10
Speaker 3: Second time, I want a half billion out of contracts
15:14
Speaker 3: at work. You know what I'm saying about the dumpsters
15:16
Speaker 3: on the phone, like snaked, Yeah, and I did that.
15:19
Speaker 2: So how did you had to read this office space?
15:21
Speaker 2: So all right, let's let's get into that situation. So
15:26
Speaker 2: you you you started the company, but in order for
15:28
Speaker 2: the company to be sold, it had to have looked
15:31
Speaker 2: like more than what it actually was, right, So that's
15:34
Speaker 2: why you got the regious office space, which anybody that doesn't
15:36
Speaker 2: know Region's office space regis is like a shared office.
15:39
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16:34
Speaker 3: What makes I try to use this business in Georgia
16:37
Speaker 3: and to be like a subcontractor? But I learned quick
16:41
Speaker 3: learn is no real money Here's one thing I'll clarify
16:45
Speaker 3: is my lane has been healthcare. That's really the niche
16:50
Speaker 3: of government contracting, because really that's what I was doing
16:53
Speaker 3: once I got on the side, and my.
16:54
Speaker 4: Last company was contract with the government.
16:57
Speaker 3: So there was this company who I was going to
17:02
Speaker 3: be there the sub who's trying to do some work
17:03
Speaker 3: in Georgia, and I quickly realized there was no big
17:06
Speaker 3: money in that. So I want to get a Medicaid
17:08
Speaker 3: managed care because Obamacare had just passed, which meant more
17:12
Speaker 3: people on Medicaid, which because of the way I grew up,
17:14
Speaker 3: I knew folks on Medicaid meant more people in medicate
17:18
Speaker 3: managed care.
17:18
Speaker 2: So let's just break this down. Medicaid is the government
17:25
Speaker 2: program health insurance. Yes for people low income people. Yes,
17:29
Speaker 2: so you get commissions if you signed people up for Medicaid.
17:34
Speaker 3: Well know, the way it works is if you actually
17:35
Speaker 3: own the insurance company, which is what my parents had
17:38
Speaker 3: that's providing the medical right, and.
17:40
Speaker 4: Then I got it. So here's what happens.
17:42
Speaker 3: The government has the money and they're responsible for paying
17:45
Speaker 3: all the bills for people on Medicaid. All right, Well,
17:48
Speaker 3: what's happened is you had the providers, the hospitals and
17:51
Speaker 3: doctors and service providers, which is build a government over
17:55
Speaker 3: build them two or three times for the same service build.
17:57
Speaker 3: You know, somebody could be EAR level five, but they
18:01
Speaker 3: our level two, which means not that sick. But they'll
18:02
Speaker 3: build an EAR level five, I mean super sick. They
18:04
Speaker 3: would get more money for it. So they would double bill,
18:07
Speaker 3: triple bill, do too much. And so the government decided
18:11
Speaker 3: in order to manage the spending, they need to put
18:13
Speaker 3: a police mechanism in the middle to police the providers,
18:17
Speaker 3: and those are the Medicaid managed care insurance companies. So
18:20
Speaker 3: they contract with us and they pay us a health
18:22
Speaker 3: insurance premium per member per month they assigned to us.
18:26
Speaker 3: So in DC, my first contract, my first month I
18:29
Speaker 3: got they signed me thirty thousand people. They're paying me roughly,
18:34
Speaker 3: you know, five thousand dollars a year. They pay me
18:37
Speaker 3: one hundred So I was getting like twelve million dollars
18:39
Speaker 3: a month, five thousand dollars per person per year, a
18:43
Speaker 3: person per year. Yeah, and I had and they signed
18:46
Speaker 3: me thirty thousand people.
18:47
Speaker 2: So do the math.
18:48
Speaker 3: It's one hundred fifty million a year divided by twelve,
18:50
Speaker 3: like twelve million a month first contract. Before that has
18:54
Speaker 3: to be all the hospital bills though, say time I
18:55
Speaker 3: member goes to the hospital, the doctor, the dentists gets prescriptions,
18:59
Speaker 3: emergent transportation nine emergeny transporation.
19:01
Speaker 4: I pay for everything.
19:02
Speaker 3: And if those bills are greater and they have my costs,
19:04
Speaker 3: my administrative costs to pervert, provide the service, marketing, et cetera.
19:08
Speaker 3: If my costs are greater than what I.
19:09
Speaker 4: Got paid from the government, I lose money. So I'm
19:12
Speaker 4: at risk.
19:13
Speaker 3: But if they're lower than I make money, Okay, So yeah.
19:18
Speaker 1: No, So are there things that you can do obviously
19:21
Speaker 1: to prevent Yeah? Yeah, So, like what are some of
19:24
Speaker 1: the things that.
19:24
Speaker 4: I was out cold? I was the coldest with it.
19:26
Speaker 3: So the average company in my industry is doing one
19:29
Speaker 3: point seven percent profit margins. You've round up to two percent.
19:31
Speaker 3: It's two percent, one hundred and fifty million. It's like
19:33
Speaker 3: three million dollars a year, right, Well, that's the profit
19:36
Speaker 3: profit right, And there's some advanced accountants that look at
19:41
Speaker 3: all the past utilization patterns. How many times go to
19:44
Speaker 3: the mergercy room howny times ago? Impatient It means they
19:46
Speaker 3: spend night Hospitalee one night. How many folks are homeless
19:49
Speaker 3: and they have how many folks have diabetes? How many
19:51
Speaker 3: folks you know need a transplant? And they make all
19:54
Speaker 3: these assumptions to say, Okay, well we expect your cost
19:57
Speaker 3: to be X, so therefore your profit can be two percent.
20:00
Speaker 3: But of course me because Troy you the same way.
20:04
Speaker 3: I believe if somebody gave you and I got my
20:07
Speaker 3: coming up to twenty million revenue. So if somebody gave
20:08
Speaker 3: you twenty million dollars in revenue. By the way, a
20:10
Speaker 3: lot of companies lose money, like United was losing money.
20:12
Speaker 3: Are you gonna make money lose money? I'm gonna make money,
20:15
Speaker 3: right yeah for show. It just hit me, It just
20:18
Speaker 3: hit me. Give me twenty million dollars. I'm about to
20:19
Speaker 3: make some money. Yeah, and I'm gonna make a whole
20:21
Speaker 3: lot of money. So they was making two percent, I
20:22
Speaker 3: was making ten and then my ten was round and down.
20:26
Speaker 3: So I was making like twenty million a year and
20:27
Speaker 3: I should have made four million year.
20:29
Speaker 2: How come you was able to make way more higher
20:31
Speaker 2: profit margins in them?
20:32
Speaker 3: Because big companies are built with mediocre, mediocre people, right,
20:37
Speaker 3: So Blue crossby Shield and these big companies, United Healthcare
20:40
Speaker 3: sent ten. They're big, like every big coming, it's just mediocre,
20:44
Speaker 3: right because no one really gives a shit because they
20:45
Speaker 3: don't own it.
20:46
Speaker 4: But me, I want forty per cent of my company.
20:49
Speaker 3: So if I make twenty million, eight millions comeing to
20:51
Speaker 3: Tommy Duncan's pocket.
20:53
Speaker 4: You feel me.
20:53
Speaker 3: If I make four million, I'm only getting eight hundred thousand.
20:57
Speaker 3: So what I'm gonna do. I'm about to make the
20:59
Speaker 3: twenty I do it. I'm going through the data. So
21:01
Speaker 3: I became in actuary in my own mind. So, like
21:05
Speaker 3: I said before about like the food business, I didn't
21:07
Speaker 3: like it. I liked the process of it.
21:08
Speaker 4: So I wasn't going to become a cook or a chef.
21:11
Speaker 4: I don't like it. But in this business, I love
21:13
Speaker 4: this shit.
21:14
Speaker 3: So I became an accountant to a degree in Advan's
21:17
Speaker 3: accountant called actuaries. I looked at all of my data, identified, okay, well,
21:21
Speaker 3: who's cost me the most money? By individual and by category?
21:27
Speaker 4: So I give an example.
21:29
Speaker 3: I identified that anyone who was in my membership had
21:34
Speaker 3: any condition. They could be a type two diabetic, they
21:37
Speaker 3: could be on dialysis, whatever the case may be. But
21:41
Speaker 3: if they were also homeless, they cost me five x
21:44
Speaker 3: more expensive. So no matter what the condition they had,
21:47
Speaker 3: they were also homeless. I cost cost five hundred percent more.
21:50
Speaker 3: So what I decided to do is identify all of
21:53
Speaker 3: my members that were homeless and put together programs to
21:55
Speaker 3: get them in the housing. Simple thing. So at this meeting,
21:58
Speaker 3: I had forty people there because it was open meeting,
22:01
Speaker 3: and I kind of lead from the front. I'm a
22:03
Speaker 3: ground up guy, so let's all talk. Everybody gets respected
22:05
Speaker 3: in the floor. And what I quickly realized is because
22:09
Speaker 3: of that safe environment, two women to raise hands said
22:11
Speaker 3: I had actually been.
22:11
Speaker 2: Homeless in DC and homeless with the kids.
22:14
Speaker 4: They gave me the real So I thought I had
22:15
Speaker 4: the right idea, was wrong. They gave me the real.
22:18
Speaker 3: Lead of land, we put together plans in place we
22:20
Speaker 3: would douce homelesses about fifty percent. So out of all
22:23
Speaker 3: the metrics and data in our industry of healthcare, the
22:27
Speaker 3: only metric that we needed to focus on was getting
22:29
Speaker 3: folks that were homeless into housing.
22:31
Speaker 2: It seems simple, right, we did it.
22:33
Speaker 3: Cost came down a fifty percent, and I probabily went
22:35
Speaker 3: up directly.
22:36
Speaker 2: So that's let's just go into that point minute. So
22:39
Speaker 2: just by actually looking at the numbers, you realize that
22:43
Speaker 2: the homeless people was actually costing you a lot more money,
22:45
Speaker 2: so you got to keep them on. So the way
22:49
Speaker 2: that solve it is housing. That's there are housing programs,
22:54
Speaker 2: but it's just a matter of most CEOs aren't really
22:56
Speaker 2: interested in community outreach and trying. So you actually going
23:00
Speaker 2: hand in hand and getting these people and saying like, look,
23:02
Speaker 2: we can get you a house, da da da, and
23:04
Speaker 2: we can put you in a shelter. And that way,
23:07
Speaker 2: not only are you getting them off the street, but
23:09
Speaker 2: you're actually increasing your profit revenue as well. That's why
23:12
Speaker 2: I was like, I get it. Once you said it,
23:14
Speaker 2: I get it.
23:15
Speaker 1: You do the programs for the homeless, right, You create
23:18
Speaker 1: exercise classes, you create nutrition programs, more entry people, less
23:23
Speaker 1: people have to go to get any type of treatment
23:26
Speaker 1: or have to go, increase the expenses.
23:29
Speaker 4: Trow one hundred sent right.
23:30
Speaker 3: So we actually built these community centers called our Recenters
23:33
Speaker 3: in the hood. So in the Turvice neighborhood in DC,
23:36
Speaker 3: we had four of them all throughout the district.
23:39
Speaker 4: And most of these companies call them corporate call wherever
23:41
Speaker 4: you want to call them.
23:41
Speaker 3: They ain't stepping foot in the hood, and employees aren't.
23:45
Speaker 3: So we end up attracting people that were comfortable being
23:48
Speaker 3: the hood I called the hood. But when you're around
23:51
Speaker 3: the people that you're serving, you can affect them because
23:54
Speaker 3: you're actually communicating with them, and you get them. You
23:56
Speaker 3: build a trust where they actually pay attention to what
23:58
Speaker 3: you are putting forth. They know the reason horses and
24:01
Speaker 3: their behaviors changed for the positive.
24:04
Speaker 2: So that's how you was able to increase just looking
24:06
Speaker 2: at and stuff like that, studying analytics.
24:08
Speaker 1: So you went for one percent, well the average was
24:11
Speaker 1: one percent points, and so that's how you got to
24:13
Speaker 1: the ten percent.
24:13
Speaker 4: I was over ten killing them, killing them.
24:16
Speaker 3: But the problem is and actually wrote a book trying
24:18
Speaker 3: to change the policy for medicating the country.
24:21
Speaker 2: I sent it to you.
24:21
Speaker 4: It's called the Tradiing Dollar Medicaid Monster.
24:24
Speaker 3: It addresses single payer everything you've heard about politically that
24:28
Speaker 3: knowing fully understands, adresses all of it, simplifies it. I
24:32
Speaker 3: took it to the person that runs ran sentence, Medicare
24:34
Speaker 3: and Medicaid for the country to change policy.
24:37
Speaker 4: Gave him three policies to change, and he.
24:39
Speaker 3: Told me there's no way he could do it because
24:42
Speaker 3: one of the policies is affected into law through Obamacare,
24:46
Speaker 3: and it'll be too hard to change policy. But what
24:51
Speaker 3: that policy is a mandatory medical loss ratio requirement. What
24:54
Speaker 3: that means is, remember the government pays us a health
24:57
Speaker 3: insurance premium per member per month one thousand per year,
25:00
Speaker 3: breaking down per month for one and of bucks per
25:01
Speaker 3: month per person tracking, Well, let's use the five grand
25:07
Speaker 3: per year number. The requirement is that eighty five percent
25:10
Speaker 3: of that money has to be spent on direct costs
25:12
Speaker 3: of care, so hospital, doctor, pharmacy. Then I get, you
25:16
Speaker 3: know whatever, twelve percent left, thirteen percent left to cover
25:19
Speaker 3: my administrator spence, and then two percent profit margin. But
25:22
Speaker 3: the management medical cost ratio is the eighty five percent. Well,
25:26
Speaker 3: if you do things that I was doing and get
25:28
Speaker 3: people who are homeless in the housing reduce costs of care,
25:31
Speaker 3: then you're gonna be less than eighty five percent.
25:32
Speaker 1: Because I'm thinking like, if you did it in DC,
25:35
Speaker 1: this model seems like it could be scalable, right, Like,
25:37
Speaker 1: why can't we do it Detroit, New York City?
25:40
Speaker 3: Well, because it's political, it's hard to win the contracts.
25:42
Speaker 3: It's a big game. So let me tell you how.
25:44
Speaker 3: Let me tell you something else about to the entrepreneurs
25:45
Speaker 3: out here, go to what the opportunity is. I feel
25:56
Speaker 3: like a lot of times what we do is individuals,
25:58
Speaker 3: not just black, but just in general, is we believe
26:01
Speaker 3: whether whoever our God is or our universe is, you know,
26:05
Speaker 3: it's all on us, right, so God bless us, and
26:08
Speaker 3: it's just.
26:09
Speaker 4: Wherever we are.
26:10
Speaker 3: But the truth is, the environment has a big impact
26:12
Speaker 3: on your opportunity. And I was in Detroit in the money. Detroit,
26:18
Speaker 3: d C is a special place and a lot of
26:20
Speaker 3: black folks who have been successful come through DC, A
26:22
Speaker 3: lot of them. You look them up, most of them
26:25
Speaker 3: got to start a BT. You go through you really
26:27
Speaker 3: look at black folks who made it big. Most of
26:29
Speaker 3: them spent time in DC. And the reason is because
26:31
Speaker 3: d C is the only place that has a governor's
26:34
Speaker 3: budget but as black ran. So you look at any
26:40
Speaker 3: other state in this country. You look at New York City,
26:43
Speaker 3: who knows what's gonna happen until a degree it may
26:46
Speaker 3: not really matter. You look at Atlanta, Georgia, you go
26:49
Speaker 3: to Detroit, Michigan. You got all these you know, big
26:52
Speaker 3: cities which have a black mayor, but the mayor budgets is.
26:55
Speaker 2: Small because the governor.
26:57
Speaker 3: Governor got the money. Governor's got more money that they
27:00
Speaker 3: can actually than the president of United States because they
27:06
Speaker 3: like the biggest CEOs in this country. But no one
27:08
Speaker 3: talks about it. So how many black governments do you know?
27:12
Speaker 2: None?
27:12
Speaker 4: Come on?
27:13
Speaker 3: Why is that they control the money? Sorry, they control
27:16
Speaker 3: the money. Governors control the money. Let me tell you
27:22
Speaker 3: out of the city of Atlanta, because I spent time there.
27:23
Speaker 3: With any city, a big contract tould be a million dollars.
27:27
Speaker 3: You get a contract with the airport, you got a concession,
27:29
Speaker 3: you said you may you make a half million dollars
27:31
Speaker 3: a year.
27:31
Speaker 2: It's big.
27:33
Speaker 3: Any contract over three million, so three four five million,
27:36
Speaker 3: and it'd be construction. But the problem with construction for
27:39
Speaker 3: an entrepreneurs that there's a lot of expenses in construction.
27:41
Speaker 4: You gotta have equipment, you gotta have a million people.
27:43
Speaker 3: You can't make any profit. But governors controlled. Let me
27:48
Speaker 3: watch this, watch this. The second largest procurement in history
27:52
Speaker 3: United States was Georgia medicaid. I'm sorry, was Florida medicaid
27:56
Speaker 3: three years ago. It was one hundred and twenty million
27:58
Speaker 3: dollar contract.
27:59
Speaker 4: Right now.
28:00
Speaker 3: Over the next three months, Californias put out their Medicaid contract.
28:03
Speaker 3: Medicaid what I was doing. It's gonna be a two
28:05
Speaker 3: hundred billion dollar contract, two hundred billion over five years.
28:08
Speaker 3: Two hundred billion dollars five years medicaid what I was doing.
28:13
Speaker 4: Who controls that?
28:13
Speaker 2: The governor?
28:14
Speaker 3: I mean, you don't have to get a big piece
28:16
Speaker 3: to get a lot of money. But DC is special
28:18
Speaker 3: because d.
28:19
Speaker 2: C governs budget.
28:20
Speaker 3: It's a governments budget, and the mayor is the governor.
28:23
Speaker 3: And she's a black one because that's her. It was
28:25
Speaker 3: a black man.
28:25
Speaker 2: So it's a district of Columbia, so it's not a state,
28:28
Speaker 2: so it's a territory.
28:30
Speaker 3: So we got the budget. The mayor is technically the
28:33
Speaker 3: governor in a sense.
28:34
Speaker 4: And they got the budget.
28:35
Speaker 2: Is the budget of power? Budget based on population?
28:38
Speaker 1: How do they determine the budget based on populations in
28:40
Speaker 1: tax base?
28:41
Speaker 3: But d C is a beautiful place. It's small with
28:43
Speaker 3: a big tax base. And uh, they got the power.
28:47
Speaker 3: And then the other thing DC did through a former
28:50
Speaker 3: mayor for Life Marion Barry, was the first place to
28:53
Speaker 3: institute a real program.
28:55
Speaker 4: And maybe Georgia did it, but DC did it powerfully.
28:58
Speaker 3: Where every contract comes out of DC has to have
29:01
Speaker 3: thirty percent minority participation. Now they what happens. There is
29:05
Speaker 3: a lot of times that black companies will come in.
29:07
Speaker 3: It tried to do small shit, do small things right unintitionally.
29:12
Speaker 3: But they'll do janitorial service, they'll do marketing contract AGVAG,
29:16
Speaker 3: they do printing. But they ain't no money. I mean
29:20
Speaker 3: relatively speaking, what I was doing. I came in as
29:22
Speaker 3: a prime and I got the prime contract. So I
29:25
Speaker 3: was getting two enty million dollars year out of DC government. Well,
29:30
Speaker 3: the problem with the companies that like I had is
29:33
Speaker 3: I couldn't find a smaller black business to give a
29:36
Speaker 3: contract too that was worth thirty percent. They couldn't do
29:38
Speaker 3: the work, they didn't have the infrastructure, They weren't trying
29:40
Speaker 3: to do anything worth the bigger spend. But DC, let
29:44
Speaker 3: me tell you right now to Medicaid contracts, because they
29:46
Speaker 3: did an expansion DC right now, it's probably three billion
29:48
Speaker 3: dollars a year, just a little o DC three billion dollars.
29:52
Speaker 4: Well of that thirty.
29:54
Speaker 3: Percent, how much is that almost a billion dollars has
29:56
Speaker 3: to be spent with minorities? But how much you write?
30:00
Speaker 3: Really thing it's being spited to the minority of companies
30:01
Speaker 3: in DC. I could tell you because we had to
30:03
Speaker 3: do hearings because there weren't enough to spend probably yeah,
30:07
Speaker 3: no more than ten million, not even ten five five
30:10
Speaker 3: five million from a billion, not even that much.
30:12
Speaker 4: I'm saying.
30:12
Speaker 3: It's like, it's just not the companies aren't there. The
30:14
Speaker 3: companies aren't there to do the work. And look, I
30:19
Speaker 3: mean we put game in the system by putting money
30:20
Speaker 3: in a black bank, but that's not really spending money.
30:23
Speaker 3: That's just money sitting. And even that's like small. But anyway,
30:27
Speaker 3: my points are that there's opportunity all over the place,
30:30
Speaker 3: particularly in DC, and this way to navigate it, the
30:34
Speaker 3: way that I did it, you know, but as an uspilar,
30:38
Speaker 3: you should look at your environment, see where you're at.
30:40
Speaker 1: The skill I mean, navigating through government contracts is obviously
30:44
Speaker 1: a skill.
30:45
Speaker 2: Where did you develop this?
30:46
Speaker 1: Was it watching your parents go through the hospital or
30:50
Speaker 1: was it something that you learned when.
30:52
Speaker 2: You were at a VP at your first company.
30:55
Speaker 3: On one side, my experience with my parents, you know,
30:58
Speaker 3: having all these employees, you know, all the politicians coming
31:02
Speaker 3: through every day, taught me government contracting because that's a
31:07
Speaker 3: lot of it is a sense of I don't call
31:10
Speaker 3: a quid pro quote it's a pro quote.
31:12
Speaker 2: Right.
31:13
Speaker 3: There is a fundamental human principle called reciprocity.
31:19
Speaker 4: Right, you do for me, I do for you, but
31:21
Speaker 4: you ain't doing it for me. I ain't doing much
31:23
Speaker 4: for you.
31:23
Speaker 3: And the reason you need to get my attention is
31:25
Speaker 3: because you want me to prioritize your priority.
31:27
Speaker 4: I got my own priorities.
31:28
Speaker 3: So in order to do that, you got to incentivize me
31:30
Speaker 3: my experience that a creative taught me, train me. And
31:33
Speaker 3: that's the skills that I deployed when I looked at
31:36
Speaker 3: all of my data and identified which one moved the needle.
31:40
Speaker 4: As I gave you the example with the homeless program.
31:42
Speaker 3: And execute it and put together operating rhythm to push
31:45
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32:39
Speaker 3: He had a conversation earlier Troy about you're asking me
32:42
Speaker 3: if someone wednsday office.
32:43
Speaker 4: It was with the question was, well, while.
32:46
Speaker 2: They keep raising money?
32:47
Speaker 3: Yeah, yeah, they keep raising money because they may be
32:50
Speaker 3: borrowing to pay for the TV commercials and they need
32:53
Speaker 3: to pay that money back. The other thing that happens
32:55
Speaker 3: too is they always want to have more money because
32:57
Speaker 3: they can then keem make or queen. So now let's
33:01
Speaker 3: say the person's mayor or governor, and now they want
33:05
Speaker 3: to hand pick city council, right, so they want to
33:08
Speaker 3: give that city councilor member that they want so they
33:10
Speaker 3: know that they'll vote for whatever they their initiatives are
33:13
Speaker 3: they need to raise money for them, so they'll take
33:15
Speaker 3: the money that they raise for their campaign and then
33:17
Speaker 3: donate it to keeammate to kind of build a powerful
33:22
Speaker 3: position in government so they can make decisions they want
33:25
Speaker 3: to make and help folks that they want to help.
33:28
Speaker 4: The other reason is if they lose, they got debt.
33:31
Speaker 3: See, if you win, you can always raise money because
33:33
Speaker 3: now folks want to participate with you, right, the business people.
33:37
Speaker 3: But when you lose, then you may have one hundred
33:40
Speaker 3: thousand dollars in debt, a million dollars in debt, and
33:42
Speaker 3: no one's gonna give you any money really because you lost.
33:44
Speaker 4: So they always raise money just case they lose to
33:47
Speaker 4: But anyway, so.
33:49
Speaker 3: The understanding government relationships and understanding what people want by
33:56
Speaker 3: the other side is training in Troy. I got my
33:58
Speaker 3: training on, you know, how to I break my business
34:00
Speaker 3: at the highest level through my company at a creative.
34:03
Speaker 3: When I sold my company to a creative. They taught
34:05
Speaker 3: me how to analyze data, how to synthesize it, how
34:09
Speaker 3: to analyze and identify out of all of the data
34:13
Speaker 3: points and metrics what actually moves needed the most, and
34:16
Speaker 3: then create an operational rigor to push every day to
34:20
Speaker 3: improve performance.
34:21
Speaker 2: I think that's incredible. Right.
34:22
Speaker 1: A lot of times people here, someone sold their company
34:25
Speaker 1: and they took the cash and they walked away and
34:27
Speaker 1: tried to create a new company. Whereas you sold the
34:29
Speaker 1: company and stayed on and learned yes, skills to help
34:34
Speaker 1: you before you created a new company. That's right, that's incredible.
34:37
Speaker 3: And that's why we killed them. Yeah, my last company,
34:39
Speaker 3: we killed them and it benefited me financially. So my
34:42
Speaker 3: last company based upon the size, So if you just
34:45
Speaker 3: look at the metric of number of members, which is
34:48
Speaker 3: usually how they value manage care companies, we would have
34:52
Speaker 3: sold our company for forty million dollars, but because we
34:55
Speaker 3: were so profitable, we sold a company four hundred and
34:58
Speaker 3: twenty million dollars. And that profitability was a was directly
35:03
Speaker 3: driven by really the training I received at the creator
35:06
Speaker 3: to understand the data and then pushing it.
35:09
Speaker 2: So what was the last company that you sold, Like,
35:13
Speaker 2: what was the same type of services?
35:15
Speaker 4: Provide insurance?
35:16
Speaker 3: That was insurance, that was a Medicaid health plan, that
35:18
Speaker 3: was Medicad insurance trusted or trusted.
35:20
Speaker 2: So you was providing the insurance for the Medicaid.
35:23
Speaker 3: So people who have Medicaid. They have an insurance company
35:26
Speaker 3: and I was one of the providers. This is interesting,
35:28
Speaker 3: It's something that I've never even heard of.
35:30
Speaker 1: Speaking of Medicare, you actually bought a healthcare plan from
35:34
Speaker 1: Michigan Tenant in twenty sixteen.
35:35
Speaker 2: Yeah.
35:35
Speaker 3: Tenants the largest for profit health care system in the country.
35:40
Speaker 4: So here's how it goes. It kind of mixed it both, right.
35:43
Speaker 2: So one.
35:46
Speaker 3: There was a person who used to be a Supreme
35:48
Speaker 3: Court justice in Michigan, and we're very closely with my
35:52
Speaker 3: parents when I became when I started my entrepreneurial journey,
35:57
Speaker 3: remember my parents.
35:57
Speaker 4: The other thing about.
35:58
Speaker 2: Government businesses, When.
36:00
Speaker 3: You're on the positive side where people like you, it's
36:04
Speaker 3: extraordinarily beneficial. But then something can happen where you get
36:08
Speaker 3: on the wrong side of politics. And so my parents
36:12
Speaker 3: got on the wrong side and lost everything. But then
36:16
Speaker 3: I was building my own This person became a good
36:18
Speaker 3: friend of mine, kind of like a mentor to a degree,
36:21
Speaker 3: and it just so happened. He ended up becoming the
36:28
Speaker 3: CEO of one of the Tenant hospitals in Detroit, and
36:32
Speaker 3: he told me that from corporate they had made a
36:34
Speaker 3: decision to sell their Medicaid help plan assets, and because
36:40
Speaker 3: of that relationship, he told me about it. And then
36:42
Speaker 3: I contacted a guy who I made chairman of my board.
36:47
Speaker 3: He's a very good friend of mine. I contacted so
36:50
Speaker 3: my guy who was running the hospital told me. I
36:53
Speaker 3: contacted my guy who is in that world of high power.
36:58
Speaker 4: Executives in healthcare.
37:01
Speaker 2: None of them were black.
37:02
Speaker 3: He talked to them and they confirmed, yes, we are
37:06
Speaker 3: looking to sell their as set. And so you know
37:08
Speaker 3: it was in a few months they sold it to us.
37:09
Speaker 1: What's the type of tag on that, because I know
37:11
Speaker 1: you later sold it to Henry Ford.
37:13
Speaker 4: We bought it for.
37:17
Speaker 3: What we had to put in. It's called risk base capital.
37:19
Speaker 3: I think all in we probably put in like thirteen.
37:21
Speaker 2: Million, okay, you know, and then three years later we.
37:24
Speaker 3: Sold it for twenty two and a half. Yeah, but
37:27
Speaker 3: it was a crazy story. But here's the real story.
37:30
Speaker 3: That ain't the story how much money we made. The
37:32
Speaker 3: real story, Troy, is that we bought it and they
37:34
Speaker 3: gave us these financials which showed it was making six
37:37
Speaker 3: million dollars a year in profit, half million a month,
37:39
Speaker 3: half million a month, half million a month.
37:42
Speaker 4: The first month I owned it, we lost.
37:44
Speaker 2: A million dollars. You did, so he.
37:47
Speaker 4: Sell me an asset with all the financials.
37:49
Speaker 3: It's a big public traded company, right, one that you
37:51
Speaker 3: would trust.
37:53
Speaker 4: Half million dollars a month they make it.
37:54
Speaker 3: But somehow my first month I lose a million, Second
37:56
Speaker 3: month I lose another million, Third month I lose another million.
37:59
Speaker 3: So now what's happening. My private equity partners are come
38:03
Speaker 3: to take my company over from it. I got stories
38:05
Speaker 3: with days they come to take it from me. Itu They said,
38:07
Speaker 3: now we gotta put money in the company. Of course,
38:09
Speaker 3: time you can't put the money up, so we gotta
38:10
Speaker 3: put the money up. We're gonna delute you down and
38:12
Speaker 3: take your equity to put the money up. And it's
38:15
Speaker 3: becoming hostile because we have our investors, who's money in
38:19
Speaker 3: this thing. We got to do what we have to
38:21
Speaker 3: do to retain as much value as we can. So
38:23
Speaker 3: now they start showing up in my office every day,
38:26
Speaker 3: taking over my finance. So put my CFO out the way,
38:29
Speaker 3: took over his office.
38:30
Speaker 4: They coming every day. So I'm all right, now I
38:32
Speaker 4: got to fix the problem. So fix problem? How do
38:34
Speaker 4: I do it?
38:35
Speaker 3: Make all my vendors renegotiate their rates for me, cut
38:38
Speaker 3: everything in half or I'm suing y'all, and I'm claiming
38:41
Speaker 3: fraud and everything.
38:42
Speaker 4: So now I call a State of Michigan. So here's
38:45
Speaker 4: what things.
38:45
Speaker 3: No matter how big the companies are, company is in healthcare,
38:49
Speaker 3: there's one thing that can destroy a company.
38:51
Speaker 4: It's called compliance.
38:53
Speaker 3: So if government believes that a company is not being compliant,
38:57
Speaker 3: they could tank the whole company. And so so I
39:00
Speaker 3: proactively called the State of Michigan's insurance bureau. Even though
39:05
Speaker 3: I presentage if they called me, they didn't. I called
39:07
Speaker 3: them and I was threatening, well, listen if the insurance
39:11
Speaker 3: bureau approved them. So what happens is when you're an
39:15
Speaker 3: insurance company, you make a profit. You can't really take
39:18
Speaker 3: your profits out every year. You just retain them and
39:20
Speaker 3: then when you sell your company, then you get all
39:23
Speaker 3: your money. So when they sold the company, we gave
39:26
Speaker 3: them thirteen million. They took like ten million out the
39:28
Speaker 3: company that they had to retain earnings. So then I
39:30
Speaker 3: contacted the insurance bureau and I threatened, I tell you
39:33
Speaker 3: a funny story too, you know, let me tell you
39:35
Speaker 3: the story. So I called the insurance bureau, say no,
39:38
Speaker 3: I'm on record, call them to have a meeting.
39:41
Speaker 4: Being in healthcare forever.
39:42
Speaker 3: So we go there and I got my private equity partners, right,
39:44
Speaker 3: they talking all this shit to me. They're trying to
39:46
Speaker 3: take my company from me. Dudes resign from the board
39:49
Speaker 3: so they can sue me. So I knew that do
39:51
Speaker 3: resign for the board. That means about to ssume because
39:53
Speaker 3: they can't ssue me being on the board because it's
39:55
Speaker 3: complex Adventures. So I'm like, all right, this is a
39:57
Speaker 3: Jewish guy. They about to sue me, and I got
40:00
Speaker 3: all these problems to take it over my company anyway,
40:02
Speaker 3: So we go and I got to get my money back.
40:04
Speaker 3: I don't forget my money back, and I renegotiate my
40:06
Speaker 3: vnder contracts.
40:07
Speaker 4: I can save everything.
40:08
Speaker 3: So we get to Dallas and all these guys people
40:11
Speaker 3: come to all I said to me, all this stuff
40:12
Speaker 3: to me. We get there and they quiet scared to talk.
40:16
Speaker 3: But here's what they So I threatened the dude. I said, yeah,
40:19
Speaker 3: you know, y'all took that money out and you sold
40:20
Speaker 3: the company to me. And you know, I got to
40:23
Speaker 3: meet with the surance bureau. They want to meet with
40:25
Speaker 3: me about what happened because they see our financials have deteriorated.
40:29
Speaker 3: So I don't know, but that's the problem. So the dude,
40:33
Speaker 3: he said, ah, I did this team talking. I come back.
40:35
Speaker 3: I said, you know, I mean the assurance Bureau and
40:40
Speaker 3: y'all took that money out. I don't know what they
40:42
Speaker 3: want to talk about. He kind of ignored it again.
40:45
Speaker 3: I said the third time, I'm sorry, I said. He said, God,
40:48
Speaker 3: damn it, duncan if you threatened me one more time,
40:53
Speaker 3: and I looked at him, I looked out the window.
40:55
Speaker 3: I said, all right, I won't say it again. That's
40:57
Speaker 3: gonna make sure you heard me.
40:59
Speaker 4: Came back. I probably a day later, and they agreed
41:01
Speaker 4: to give us some money back.
41:02
Speaker 3: Got my money back, and still renegotiated my contracts with
41:06
Speaker 3: my providers who had to pay my vendors. So then
41:09
Speaker 3: now now that they get my money back, now my
41:11
Speaker 3: cost with Lord going forward, it's up making money. I
41:15
Speaker 3: probably made another twenty million. It's unbelievable, unbelievable. So so
41:21
Speaker 3: that I got my pe partners off of me and
41:23
Speaker 3: save My company ended up being more profitable, and then Henry's,
41:26
Speaker 3: but then the company still wasn't making money and it
41:28
Speaker 3: was it wasn't working. So I was able to get
41:31
Speaker 3: Henry Ford health System health System in Detroit to buy
41:35
Speaker 3: my company, and I made a profit, so on something
41:37
Speaker 3: that was losing million dollars a month. It could attaint everything,
41:39
Speaker 3: DC could attaint everything. I ended up some one hundred
41:43
Speaker 3: and twenty million dollars. It may profits all over the place.
41:46
Speaker 3: And then the very oh guys.
41:47
Speaker 2: So yeah, I only want to just breeze over one
41:49
Speaker 2: hundred and twenty million you sold the company for so
41:51
Speaker 2: all right, so what is the what was the process
41:53
Speaker 2: of you selling that? Like when was you saying, Okay,
41:55
Speaker 2: this is the time to start actively looking for somebody
41:58
Speaker 2: to buy it, or did they approach you and talk
42:00
Speaker 2: about that, like how you actually value the ebadah and
42:03
Speaker 2: all of that stuff, like how you value the selling
42:05
Speaker 2: of a company, because a lot of times people just
42:07
Speaker 2: had like I sold the company, but they don't actually
42:09
Speaker 2: know like the details that go into selling a company.
42:11
Speaker 4: Yeahs so okay, first.
42:20
Speaker 3: In our industry, because I got so many stories I
42:24
Speaker 3: can tell you which would be fun. But in our industry,
42:28
Speaker 3: there is a framework for how you value our companies, right,
42:33
Speaker 3: and it's ebit us roughly eight times EBI right, so
42:37
Speaker 3: you could value it that way or as I told you,
42:39
Speaker 3: before you value it on the total number of membership.
42:41
Speaker 4: So call it like a million dollars of members.
42:42
Speaker 3: Yere forty thousand members million dollars, but it'd be like
42:45
Speaker 3: forty million dollars right, Or you could do it about Ebia.
42:51
Speaker 3: So but what happened with us is I didn't want
42:54
Speaker 3: to sell my company. I wanted to keep it and
42:57
Speaker 3: keep growing it. The problem I ran into is even
42:58
Speaker 3: though we were the highest performing on every metric, We're
43:00
Speaker 3: the most profitable, you know, every metric about getting people healthier,
43:03
Speaker 3: we were the best at it. I couldn't win other
43:06
Speaker 3: states because what I tell you, we had no black governors.
43:09
Speaker 3: You know, it's just and you had that black governor
43:11
Speaker 3: to push to win the contract, and we didn't have it.
43:14
Speaker 3: And my PEE partners, I didn't want to be deluted,
43:17
Speaker 3: so I don't want them putting up too much money.
43:19
Speaker 4: And then I get de looted down.
43:20
Speaker 3: So I'm owning, you know, five ten percent of company
43:22
Speaker 3: where I built it from supratch. It's the time I
43:24
Speaker 3: was owning forty. I want to keep my forty. See
43:26
Speaker 3: all these different factors. So but then what happened as
43:31
Speaker 3: I's shared with you. So anyway, so my Pea firm
43:35
Speaker 3: when they bought in, so I started a company without
43:37
Speaker 3: private equity. I had a partner of mine who I
43:40
Speaker 3: met out here in La Do, a good friend of mine,
43:42
Speaker 3: who arranged to put up the first couple million dollars,
43:46
Speaker 3: and then I end up having them bought out because
43:48
Speaker 3: relationship dynamics got difficult to manage through.
43:53
Speaker 4: So got in bought out, and we got bought out.
43:55
Speaker 3: The company was worth twenty five million dollars total, so
43:58
Speaker 3: P came in at twenty five million. But remember my
44:00
Speaker 3: soul was one hundred twenty millions. But when they came
44:05
Speaker 3: in three years earlier. You know, their whole thing is
44:07
Speaker 3: you make a profit, you create value, then you sell
44:09
Speaker 3: it and you have this you know this game. So
44:12
Speaker 3: they had been looking to sell the company, but I
44:14
Speaker 3: kept wanting to stay in the game because to me, shit,
44:16
Speaker 3: if I'm worth a hundred million dollars now and we're small,
44:18
Speaker 3: if I get bigger, we're worse more a dallion two billion.
44:22
Speaker 3: I mean, I can keep going. But one thing that
44:25
Speaker 3: I think was a mistake that I made is I
44:27
Speaker 3: started making so much money that I got got loose
44:31
Speaker 3: and I was just starting to spend too much so
44:33
Speaker 3: was showing with shot earlier. You know, I did, amongst
44:37
Speaker 3: many things. I had this big party in New York
44:40
Speaker 3: City where I told them I also had Tretch, I
44:44
Speaker 3: had naughtybody, Naguors, I had uh at a Christmas at
44:47
Speaker 3: your Christmas Potris probably had Genuine. I danced with Genuine
44:50
Speaker 3: doing the moves of shit. I mean I was. We
44:53
Speaker 3: had Freddie Jackson, you call it. I had everybody showing up.
44:57
Speaker 3: I was like reinvigorating careers talk the first verses, Yeah,
45:03
Speaker 3: real talk. But let me tell you what happened. So
45:06
Speaker 3: when you're in healthcare government, there's always these fundraisers, small
45:10
Speaker 3: not for profits trying to raise money and it's like
45:12
Speaker 3: this important thing, and all the positians show up. So
45:15
Speaker 3: I'm at this Christmas dinner and the one woman who's
45:20
Speaker 3: like CEO of some small not for profit organization healthcare,
45:23
Speaker 3: she comes up to me. She said, yeah, time to
45:25
Speaker 3: hear you making all this money. You know you're doing
45:28
Speaker 3: real well.
45:28
Speaker 2: Huh.
45:29
Speaker 3: And when she made that comment, I knew coming out
45:34
Speaker 3: just like remember, yeah, put the mink on through and
45:38
Speaker 3: through it in the in the uh in the fireplace.
45:41
Speaker 3: And I'm like, damn the word and got out.
45:43
Speaker 1: The trusts, the Pink Catialact and good Fellas Pink Cali,
45:46
Speaker 1: good Fellas, Oh take that ship back.
45:48
Speaker 2: It was.
45:49
Speaker 4: But I bought a Bentley when I got to d C.
45:51
Speaker 3: I had a read uh not eleven because in my
45:53
Speaker 3: first company. But I never drove it and I sold
45:55
Speaker 3: it because I had to be low key. But then
45:58
Speaker 3: you start making so much money you just can't help yourself.
45:59
Speaker 2: That to Bentley, I'm.
46:01
Speaker 4: Kind of I'm driving.
46:01
Speaker 2: Look i'm driving.
46:02
Speaker 3: Look I'm driving like this and ship like real talking
46:05
Speaker 3: my hat down, lass rout in the city and this
46:08
Speaker 3: is DC is small.
46:09
Speaker 4: But I couldn't.
46:10
Speaker 3: You can't control yourself. You cannot control yourself in this situation.
46:14
Speaker 3: In the situation itself possible, it's impossible.
46:17
Speaker 4: That's why every movie the same should happen. No matter
46:21
Speaker 4: how much advice you.
46:21
Speaker 2: Did, you couldn't do it.
46:24
Speaker 3: So but but here's a here's a but here's a
46:26
Speaker 3: real life story. So right, the pink Cadillac, you know,
46:29
Speaker 3: the Chinchilla. When I was growing up, it's about the
46:34
Speaker 3: time we lost everything and I came back home to
46:36
Speaker 3: try to save it. My stepfather had just sold a
46:39
Speaker 3: piece of property which was attached to the hospital for
46:42
Speaker 3: two million dollars and he was running around this two
46:45
Speaker 3: million dollar check and he was showing it off. It
46:48
Speaker 3: was one moment he was in the casino in Detroit
46:50
Speaker 3: and he and it was this dude I don't mention
46:53
Speaker 3: his name, who my stepfather was bragging to. Oh, you know,
46:56
Speaker 3: y'all think y'are hurting me because he was gonna.
46:58
Speaker 4: Beat out of politics.
46:59
Speaker 3: I still I just got me and he's showing us
47:00
Speaker 3: two milli dollars check, and I truly believe. And he'll
47:03
Speaker 3: tell you that was the start of the full collapse, right.
47:07
Speaker 3: He was he could maybe fix it, but after that
47:09
Speaker 3: it just it was a rap because this dude controlled
47:12
Speaker 3: the hospital. He was a general counsel for hospital, and
47:14
Speaker 3: they just started suing the h most. The long story short,
47:17
Speaker 3: I knew at that moment it was a rap for me.
47:21
Speaker 3: So therefore I needed to sell the company to extract
47:25
Speaker 3: as much value as I can before I end up
47:26
Speaker 3: losing everything. And the thing about government contracts, in any
47:29
Speaker 3: contract business is it has its positives, it's pros, it
47:33
Speaker 3: has its cons. Now, the positives contract business is that
47:37
Speaker 3: once you have a contract, you got revenue flaw right
47:41
Speaker 3: boom revenue flaw. The downside is when you lose your contract,
47:47
Speaker 3: Animo revenue flow right. So I went from getting two
47:50
Speaker 3: in a milli dollars year coming through. So now if
47:53
Speaker 3: I don't have nothing, I lose my contract, I have zero.
47:56
Speaker 4: So I'm not a.
47:56
Speaker 3: Situation where I could go from verry risky. It's all risks,
48:00
Speaker 3: all enough, and it's literally all enough.
48:02
Speaker 2: Right now.
48:02
Speaker 3: If you're in retail business with our cause like a
48:05
Speaker 3: restaurant a, you're selling something, whatever you're doing, and you
48:08
Speaker 3: have customers buying your product and service, they don't just
48:11
Speaker 3: cut you off. You know you have a real business, right,
48:14
Speaker 3: But in contract you can lose everything. The problem with
48:16
Speaker 3: the retails you got to build this big business. I
48:18
Speaker 3: start off, I got a twenty million dollars your revenue
48:20
Speaker 3: damn man. I mean it's big difference, big difference.
48:23
Speaker 4: You got to y'all. You know, you got to build.
48:25
Speaker 3: But then when you get it, you're not as much
48:28
Speaker 3: at risk contract, you're full risk. My partners were putting
48:31
Speaker 3: pressure on me to sell it, and I'm like, all right,
48:34
Speaker 3: I need to sell this company before I end up
48:35
Speaker 3: with nothing.
48:36
Speaker 2: So you sold January twenty twenty.
48:39
Speaker 1: Yeah, and then you announced three weeks later Jeddok, which
48:43
Speaker 1: is where you're at now.
48:44
Speaker 4: One week later, one week both. I want to just
48:46
Speaker 4: go back to quick.
48:47
Speaker 2: So this is very important for people, especially black entrepreneurs,
48:50
Speaker 2: because a lot of times I feel like we have
48:53
Speaker 2: it's a gift in the curse, but we have a
48:55
Speaker 2: deep emotional attachment to our business and people always criticize,
48:59
Speaker 2: not always by a life time they criticized people. It's like, well,
49:01
Speaker 2: we can never really grow as a community if we
49:04
Speaker 2: keep selling our businesses. But when you have to understand
49:07
Speaker 2: that there's no emotional attachment to business, you have to
49:10
Speaker 2: look at it from a very rational standpoint, and it's
49:13
Speaker 2: like you can sell a business and then scale to
49:15
Speaker 2: another business as well. So once you saw that a
49:19
Speaker 2: they was going to come at you because your lifestyle
49:22
Speaker 2: and then be just the risk, you just realized you
49:25
Speaker 2: did a calculation in your head, yep, and said it's
49:28
Speaker 2: time to go.
49:29
Speaker 4: That's right, exactly right.
49:31
Speaker 3: And because the where I grew up and again, my
49:34
Speaker 3: mother had a twelve care diamond ring and she gave
49:36
Speaker 3: way for practically nothing and all the firs and the
49:38
Speaker 3: cars and the house and everything because they were trying
49:41
Speaker 3: to keep that business open that clearly was closing. Gave
49:45
Speaker 3: way everything trying to keep it open. I realized that
49:48
Speaker 3: the most attachment was more of a curse and a blessing.
49:52
Speaker 3: Did you reach out to the Blue Cross bushel or
49:54
Speaker 3: did they reach out to you to sell it? And
49:56
Speaker 3: said they reached out to me. They reached out in
50:00
Speaker 3: then they were trying to get rid of me, so
50:02
Speaker 3: so you know, So then the district did this thing
50:06
Speaker 3: where they did another procurement, a new contract. So I
50:09
Speaker 3: just want a five year contract. Like eight months later
50:12
Speaker 3: they say, no, we're gonna do it again. We're gonna
50:16
Speaker 3: do another contract. So now you have to go through
50:17
Speaker 3: the process of winning a contract again. I just won.
50:20
Speaker 3: So I thought itself for five years. I mean, you know,
50:23
Speaker 3: I can try to grow or whatever. But then eight
50:25
Speaker 3: months later they put gonna do another procurement after they
50:28
Speaker 3: cut my race twice. Remember I making so much money.
50:30
Speaker 3: They cut my rates twice, only me, and then they
50:32
Speaker 3: did this new procurement, which to me was a message
50:34
Speaker 3: they kicking me out.
50:35
Speaker 2: It's a rap.
50:37
Speaker 4: So but ill love out of DC.
50:41
Speaker 3: I you know, Blue Cross connect connected with me, said
50:44
Speaker 3: they wanted to be in the Medicaid space and the
50:46
Speaker 3: company they bought didn't win the contract, but instead they
50:50
Speaker 3: were encouraged and to not negotiate a good deal anyway.
50:55
Speaker 2: Yeah. Yeah, so so you sell that then and then
50:58
Speaker 2: jet That's what yes, I was saying.
51:00
Speaker 1: And as you see the walls closing in, yeah, you're
51:02
Speaker 1: already drawn up the vision for the next thing.
51:05
Speaker 2: So talk about that process.
51:07
Speaker 1: I know it's closing in, but here comes the next thing,
51:10
Speaker 1: which is Jet Doc, which you announced a week after yourself.
51:13
Speaker 2: Yeah.
51:13
Speaker 3: So I didn't like, you know, I didn't want to
51:17
Speaker 3: sell my company, and I felt like I was being
51:20
Speaker 3: forced out, and not just in d C, but I
51:24
Speaker 3: felt like I'm the smartest person in healthcare, and I
51:27
Speaker 3: wrote a book to prove it.
51:29
Speaker 2: I really am.
51:30
Speaker 3: No one knows better than I do, because no one's
51:32
Speaker 3: been found a CEO like I have. So it's one
51:34
Speaker 3: thing you know something because you work for somebody, another
51:36
Speaker 3: thing like what y'all doing? You know that you know
51:38
Speaker 3: what I'm saying.
51:38
Speaker 2: It's different.
51:39
Speaker 4: So I knew it. I'm smart. I grew up in it.
51:45
Speaker 3: So fifth second generation, I mean. And when my mother
51:48
Speaker 3: and my stepfather started in the business, they were guinea
51:52
Speaker 3: pigging this concept to medicate managed care. And of course
51:55
Speaker 3: they started in the black communities because that's where the
51:57
Speaker 3: guinea pig. But because of that, my parents had the
51:59
Speaker 3: first experience with it, so like knowing knows the game
52:01
Speaker 3: better than I do. So I felt like I was
52:03
Speaker 3: being put on the sideline of the industry, right, and
52:06
Speaker 3: that was mad about it. And so even though I
52:09
Speaker 3: knew I was about to make this money, I was pissed.
52:11
Speaker 3: And so I started another company and my plan was
52:13
Speaker 3: and launched his next company a week later and then
52:15
Speaker 3: you know, shocked the world with that.
52:17
Speaker 4: Unfortunately that didn't happen. I launched it.
52:21
Speaker 3: You know, I launched jet Dot February first of twenty
52:24
Speaker 3: twenty with this concept of telehealth, cause I knew that's
52:27
Speaker 3: where the game was going pre pandemic, because I looked
52:30
Speaker 3: through all my again, I've looked to all my claims. Oh,
52:33
Speaker 3: I got a lot of claims with your little claims
52:35
Speaker 3: which can be done over telephone versus somebody having to
52:38
Speaker 3: park the car going to the office see a doctor
52:40
Speaker 3: for zyptromag a Z pack they's doing on the phone
52:43
Speaker 3: boom ba boom and the doctor is not a big
52:44
Speaker 3: risk because it's a Z pack, it's easy, right, So
52:48
Speaker 3: I knew that's where when I looked at my claims,
52:49
Speaker 3: I paid off many claims. You know, boom, this is
52:51
Speaker 3: where healthcare is going. I launched February first on my
52:55
Speaker 3: own technology building myself. But then pandemic hits like March fifteenth.
52:59
Speaker 3: I go from being early till late because now my
53:02
Speaker 3: tech I'm I just I'm a month in the building.
53:04
Speaker 2: My tech.
53:04
Speaker 3: My tech when ready until until September. Yeah, and I
53:10
Speaker 3: was late. And then I thought, okay, well I'm still good.
53:12
Speaker 3: So I'm self financing because I want partners, because I
53:14
Speaker 3: had Peet partners last time, private equity.
53:17
Speaker 2: Self finance that don't let that go over.
53:19
Speaker 4: Yeah yeah, but sometimes a good idea sometimes not the
53:22
Speaker 4: great idea.
53:22
Speaker 2: It depends.
53:23
Speaker 3: But I wanted full control of this. I thought it
53:25
Speaker 3: was going to be like a Grand Slam. A self
53:27
Speaker 3: financed it, and then I go out here to the
53:30
Speaker 3: market like IM about to kill them. It was right
53:32
Speaker 3: before Labor Day last year. I'm about to kill them.
53:35
Speaker 3: I'm about to give away you know, free doctor visits.
53:37
Speaker 3: But because I had Stripe on the app, I had
53:39
Speaker 3: to charge lease of dollars I''MNA dollar.
53:41
Speaker 4: Dollar doctor visits.
53:43
Speaker 3: And the next morning I wake up, I don't had
53:46
Speaker 3: a mini You know what I'm saying people on my app,
53:49
Speaker 3: why now spend the money on advertising?
53:50
Speaker 4: And I look at all the comments they think.
53:52
Speaker 3: They're, you know, not real doctors, the Dr Pepper, you know,
53:57
Speaker 3: voodoo doctors, doctor Dre whatever.
54:00
Speaker 4: You know, doctor Day, doctor Dre.
54:03
Speaker 3: It wasn't real, and so people didn't assess value to
54:05
Speaker 3: what I was trying to sell, and really is amazing
54:08
Speaker 3: value problems isn't actually included discount of pharmacy where anyone
54:12
Speaker 3: can go to any farms in the country get a
54:13
Speaker 3: fibesarting to cost some medication unheard of. But because I
54:16
Speaker 3: wasn't getting attraction I expected to get, I decided to
54:19
Speaker 3: do celebrity route like everybody else can go. Influencer I
54:21
Speaker 3: got with Rick Ross and then we launched this big
54:23
Speaker 3: thing earlier this year, and again I actually kind of
54:27
Speaker 3: got it working. You know, my number is one hundred
54:30
Speaker 3: people per day. If I got one hundred people to
54:33
Speaker 3: day sign up for jet doc, it was booming a
54:36
Speaker 3: subscription model. The problem is I got like fifty people
54:39
Speaker 3: to day. Actually that wasn't a problem. Fifty people day
54:42
Speaker 3: would have been okay. The problem is that I spent
54:44
Speaker 3: four hundred thousand dollars that month in advertising. I ain't
54:47
Speaker 3: spent four thousand dollars a month for the fifty people
54:49
Speaker 3: a day. I just can't you know what I'm saying.
54:51
Speaker 3: They can't justify it.
54:53
Speaker 4: Nah, I ain't doing that.
54:55
Speaker 3: So but that was my problem. I'm gonna have to
55:00
Speaker 3: make another pivot. Business people do if you're gonna be
55:02
Speaker 3: in business. So I pivoted. My pivot was I'm gonna
55:05
Speaker 3: go back. Remember the guy I told you who I
55:08
Speaker 3: made chairman of my board, who's at the highest level
55:11
Speaker 3: of health care in this country, most probably top ten
55:12
Speaker 3: most profit for people health care in this country by far.
55:16
Speaker 3: You used to run a CMS. He's a friend of mine.
55:19
Speaker 3: I hit him about what I'm doing. They gave me
55:22
Speaker 3: a recurring license contract, which is valuable when you're in
55:25
Speaker 3: a tech business. So back to valuation, service business and healthcare.
55:30
Speaker 3: Eight to ten x EBITA, which is pre tax profit.
55:34
Speaker 2: You know what the EBITI stands for.
55:35
Speaker 3: Yeah, Earnings before interest, taxes, depreciation and amortization ebit die.
55:42
Speaker 3: So pre tax profit eight to ten x is roughly
55:44
Speaker 3: way you're gonna end up services.
55:46
Speaker 4: But if you're in tech.
55:47
Speaker 1: It's like twenty two or something like that. Bank.
55:52
Speaker 3: And that's why I want to get a tech That's
55:54
Speaker 3: why I did detect. So they're gonna give me a
55:57
Speaker 3: million dollars a year in recurrent revenue, so call times ten,
55:59
Speaker 3: that's twenty two mini an I'm worth twenty two million
56:01
Speaker 3: off the top.
56:01
Speaker 4: I actually got to waited seventeen million.
56:03
Speaker 2: And that is I'm glad you said that. So that
56:07
Speaker 2: is how you value a company. It's like the money
56:10
Speaker 2: that you're making. I'm trying to break this down as
56:11
Speaker 2: easy for people to understand as possible. The money that
56:14
Speaker 2: you make after all the expenses and all of that
56:16
Speaker 2: is done every single year, and then you have multiple
56:18
Speaker 2: So depending on what industry you're in, that will determine
56:21
Speaker 2: your multiple. So you were saying healthcare's multiples of eight,
56:24
Speaker 2: but in tech is like in twenty plus twenty plus.
56:28
Speaker 3: And here's another thing about tech. Tech would give you
56:31
Speaker 3: a multiplier of top line revenue. I'm talking about ebit
56:35
Speaker 3: does after expenses and taxes. I mean it's after expenses,
56:39
Speaker 3: net is net.
56:41
Speaker 2: Tech is gross gross.
56:44
Speaker 3: So you're doing a million dollars a year, you getting
56:45
Speaker 3: ten fifteen, that's fifteen million, your a couple of contracts.
56:48
Speaker 4: Now you're forty million. I mean, and you're just doing tech.
56:51
Speaker 2: So why is that? Because tech is just so explosive
56:54
Speaker 2: and it's just the because it's so scalable because if wor.
56:58
Speaker 4: It's here, you'll work anywhere. It is not.
57:00
Speaker 3: Once you've built a tech and it has an application,
57:04
Speaker 3: what it costs of scale it is minimum. But services
57:07
Speaker 3: you get in, more people, you have more infrastructure, more
57:10
Speaker 3: blah blah blah. So tech is a sexy place to be.
57:14
Speaker 3: So the dude connects me with the company and then
57:17
Speaker 3: they end up investing giving me an anchor contract. And
57:20
Speaker 3: so now we're actually at the closed stage of winning
57:22
Speaker 3: appears to be winning a state wide contract to provide
57:25
Speaker 3: telehealth services. And we have another company that we're looking
57:28
Speaker 3: to do business with.
57:29
Speaker 2: A few more and so telling doot, So what's the
57:32
Speaker 2: revenue census? You say you started with like a doubt?
57:34
Speaker 2: How much is it now? I mean, well we still
57:36
Speaker 2: got to say jet dotah, yeah that's a competition. Well yeah, yeah,
57:41
Speaker 2: I was acting about that. So Jet dot you started
57:44
Speaker 2: with a dollar? How much is it now?
57:46
Speaker 3: So it doesn't matter really because now it's twenty dollars
57:52
Speaker 3: a month, but we're ten dollars a month unlimited. But
57:54
Speaker 3: it doesn't matter. Well, it does matter, but it's not
57:57
Speaker 3: my priority. That's direct to consumer. So people in Georgia
58:01
Speaker 3: and Florida can still call it jet dock, see a doctor,
58:03
Speaker 3: get it, this got medication, boom. It's all easy, pay
58:06
Speaker 3: a twenty bucks a visit. But what I've transitioned into
58:10
Speaker 3: is business to business. So that's when I was sharing
58:13
Speaker 3: with Troy earlier. There's an opportunity where you know, I'm
58:17
Speaker 3: gonna address homelessness. It's a major problem, which means the
58:20
Speaker 3: major opportunity. What we found again through my math when
58:24
Speaker 3: I did in DC is an average person spends five x
58:26
Speaker 3: more expensive if they're also homeless. The average expense per
58:30
Speaker 3: year is about twenty grand a year. So somebody's homeless
58:33
Speaker 3: on average, that cost US twenty thousand dollars a year.
58:35
Speaker 3: That's entire Medicaid manage care industry. Well had some folks
58:39
Speaker 3: at the homeless it cost twenty grand a year. Remember
58:40
Speaker 3: you only get pay five thousand years. Each person's losing
58:42
Speaker 3: fifteen grand. But then you have other people who don't
58:44
Speaker 3: see the doctor at always seeing pay five grand a year,
58:46
Speaker 3: so you know you get you get paying out zero,
58:49
Speaker 3: but you getting five thousand. So kind of to a degree,
58:51
Speaker 3: not always average his way out, but you know it
58:54
Speaker 3: gets close to it. And that's where the two percent
58:55
Speaker 3: problem AARTE comes from, and you shake all that out.
58:58
Speaker 3: But homeless is the big problem. It's the biggest impactor
59:01
Speaker 3: on the healthcare industry. No one really talks about. So,
59:04
Speaker 3: and we've had homeless people that were using the emergence
59:06
Speaker 3: room fifteen twenty thirty times a month, right, knowing what
59:10
Speaker 3: to say to be admitted impatient, I mean the impatient
59:13
Speaker 3: means they spend out the hospital east one night. So
59:15
Speaker 3: somebody wants to get a meal, they wanted to stay
59:17
Speaker 3: in the hospital, or for whatever reason, they want to
59:19
Speaker 3: get some more medications, maybe because they need them, maybe
59:21
Speaker 3: because they want to sell them.
59:22
Speaker 4: Who knows, they know what to say to get it.
59:25
Speaker 4: And then the insurance comes to paying the bill.
59:27
Speaker 3: Or it's just cold down, its cold ever whatever, right,
59:31
Speaker 3: but it costs money. Somebody goes in patient, maybe it
59:33
Speaker 3: costs us fifteen thousand.
59:34
Speaker 2: Dollars, and you can't turn somebody down.
59:37
Speaker 4: No, so it costs fifteen thousand.
59:39
Speaker 3: Right, Well, if they stay on average, which is five nights,
59:42
Speaker 3: I'm paying three thousand dollars a night back.
59:44
Speaker 4: They could be staying with me at the pass the
59:45
Speaker 4: hotel and penhouse sweep. That's what I'm paying.
59:49
Speaker 3: So the opportunity is getting folks that are homeless into housing.
59:54
Speaker 3: And there's a big opportunity. I was giving you a
59:57
Speaker 3: quick man Troy in Oakland, California. We're talking to a
59:59
Speaker 3: big company. Let's say they have ten thousand members, twenty
1:00:02
Speaker 3: thousand dollars a year. They mean to spend two hundred
1:00:03
Speaker 3: million dollars a year on homeless members. On healthcare for
1:00:05
Speaker 3: the homeless, two undrellion.
1:00:06
Speaker 4: Dollars a year. I proved it in d C.
1:00:09
Speaker 3: I cut my homeless members in half by fifty and half,
1:00:11
Speaker 3: which is fifty percent, and the costs came down accordingly.
1:00:15
Speaker 3: So if I took a two hundred million dollar baseline
1:00:17
Speaker 3: and I cut it in half, that means one hundred
1:00:18
Speaker 3: bill dollars in savings. If I got half of that,
1:00:19
Speaker 3: I may fifty million dollars and they made fifty. They
1:00:21
Speaker 3: say fifty for giving me the contract. It's a lot
1:00:24
Speaker 3: of money.
1:00:25
Speaker 2: So that's that's the revenue models, not really the consumer.
1:00:28
Speaker 2: It's more business in government government contracts too.
1:00:32
Speaker 3: That's government or business business. So another company like the
1:00:36
Speaker 3: one that I had, I can go contract with them
1:00:38
Speaker 3: and say, I know how to save money I was doing.
1:00:39
Speaker 3: I was doing ten percent, twelve percent profit margins. You're
1:00:41
Speaker 3: doing you're trying to do two?
1:00:43
Speaker 2: Are you help you?
1:00:44
Speaker 1: So that that that is a formula for Oakland. We
1:00:47
Speaker 1: know homelessness is a huge problem in la as well. Yeah,
1:00:51
Speaker 1: can that also be replicated here? One hundred percent. The
1:00:53
Speaker 1: thing is I'm friends with the CEO of a big
1:00:55
Speaker 1: help planing.
1:00:55
Speaker 4: In Oakland and Oakland relationships rightships.
1:00:57
Speaker 3: One hundred But once you anything anywhere successful then.
1:01:04
Speaker 2: So the whole idea of virtual doctor visits. Teledoct is
1:01:10
Speaker 2: a well known company who's a publicly traded company, but
1:01:14
Speaker 2: people are still a little leary about this. So you
1:01:18
Speaker 2: have a virtual doctors visit? What Because I've never done
1:01:23
Speaker 2: this before, can you kind of explain to me what
1:01:25
Speaker 2: is a virtual doctor visit? Because I'm assuming that it's
1:01:27
Speaker 2: some limitations involved, like you can only see somebody, you
1:01:30
Speaker 2: can't hit that hell bow and check that cough and
1:01:34
Speaker 2: all that. So like how how does that work? And
1:01:38
Speaker 2: do you think that this is something that will be
1:01:41
Speaker 2: the normal moving forward?
1:01:43
Speaker 3: I do in the current in the current state of
1:01:48
Speaker 3: technology and is limitations. Most all health visits are you know,
1:01:54
Speaker 3: you have flu symptoms, or maybe you think you may
1:01:56
Speaker 3: have COVID symptoms, or you have a headache, you need
1:01:58
Speaker 3: some strong advil or something that you don't need to
1:02:01
Speaker 3: see a doctor. You know it, and the doctor knows it.
1:02:04
Speaker 3: You don't need to see them, uh in person. And
1:02:07
Speaker 3: so you download the app and you basically are like
1:02:11
Speaker 3: a zoom called the FaceTime with the doctor and you
1:02:13
Speaker 3: talk to them about your symptoms and they're going to
1:02:15
Speaker 3: prescribe your medication. And then in jet Doc then the
1:02:19
Speaker 3: doctor will automatically send the script wherever pharmacy feel is
1:02:22
Speaker 3: most convenient for you. You go pick it up. You get
1:02:25
Speaker 3: eight five cent off constant medication. The discount card is
1:02:27
Speaker 3: embedded in the app. Where healthcare is going is more
1:02:31
Speaker 3: sophisticated technology, which we're on the forefront of that with
1:02:34
Speaker 3: this contract we have.
1:02:35
Speaker 4: I was just sharing with you.
1:02:36
Speaker 3: Where we're including with our app, integrated remote patient monitoring,
1:02:41
Speaker 3: So folks that diabetic negocometers to measure the sugar, the
1:02:45
Speaker 3: blood in their shirt, the sugar in their blood, and
1:02:49
Speaker 3: so we're integrating like a post eximbity to see what
1:02:52
Speaker 3: their you know, uh, their heartbeat is. But we're we're
1:02:57
Speaker 3: integrating these into our app so it's fully integrated. So
1:03:00
Speaker 3: now you can have you know, devices that have advanced.
1:03:09
Speaker 4: What's the word photography capabilities.
1:03:11
Speaker 3: They can actually see more clear than your iPhone what's
1:03:13
Speaker 3: going on, So you can actually use devices or smart
1:03:15
Speaker 3: scales to get more information. So you're actually replicating an
1:03:20
Speaker 3: in person visit without being in person.
1:03:22
Speaker 4: So that technology doing the way and we're in the
1:03:23
Speaker 4: forefront of it.
1:03:24
Speaker 3: We're building this integrated application with jet dot to have
1:03:29
Speaker 3: twenty remote patient monitoring devices fully integrated.
1:03:31
Speaker 2: To the system.
1:03:32
Speaker 1: So pre COVID, in the teleal space, there was an
1:03:37
Speaker 1: average about projected average about eight hundred thousand visits eight
1:03:41
Speaker 1: hundred thousand visits a month. Obviously, post COVID that number
1:03:45
Speaker 1: has run to a billions. So that means it's a
1:03:48
Speaker 1: lot of people in the space. So what's jet Dot's
1:03:51
Speaker 1: plan to separate it? Because I know Shoddy mentioned a
1:03:54
Speaker 1: company as a competition, how do you separate yourselves from
1:03:57
Speaker 1: the rest of the competition.
1:03:59
Speaker 3: Really is I got to figure out what I want
1:04:02
Speaker 3: to do, so you know, there's so much room. First
1:04:08
Speaker 3: of all, I answer the question, it's a lot of room.
1:04:09
Speaker 3: There's room galore, and there's room galore director consumer. There's
1:04:13
Speaker 3: so many different pockets of opportunities. So whether you focus
1:04:16
Speaker 3: on mental health, do you focus on this niche?
1:04:17
Speaker 4: Over here?
1:04:18
Speaker 3: There's a telecompany that's been very successful doing transgender care
1:04:24
Speaker 3: actually transgender or transgender.
1:04:29
Speaker 2: Friendly, O, what have you.
1:04:30
Speaker 3: And all the members are transgend because they have their
1:04:32
Speaker 3: own health care issues, right, and so it's very focused.
1:04:35
Speaker 3: So what's happening now is the telecompanies are trying to
1:04:38
Speaker 3: figure out what the niche is.
1:04:39
Speaker 2: Right.
1:04:39
Speaker 3: STDs is a big niche, so figure out with the
1:04:42
Speaker 3: niche is an opportunity for nicheng director consumer. But also
1:04:45
Speaker 3: when you do direct to business, I mean how a
1:04:47
Speaker 3: business are. There is a trade of them, so there's
1:04:49
Speaker 3: always things you can try to do something new and different,
1:04:51
Speaker 3: which means the opportunity to grow B to B is pretty.
1:04:53
Speaker 2: Massive as well.
1:04:54
Speaker 3: But when I was saying I got to figure out
1:04:55
Speaker 3: what I want to do, is you know how far
1:04:57
Speaker 3: I want to take it? You know, if you ask
1:04:59
Speaker 3: me a year ago to yours. Got to tell them
1:05:01
Speaker 3: to take it all the way, you know, punk be
1:05:03
Speaker 3: traded on the control it make it a legacy business.
1:05:07
Speaker 4: Am I there right now?
1:05:08
Speaker 2: You know, I don't know.
1:05:09
Speaker 3: I'm still thinking about that. So do I just want
1:05:11
Speaker 3: to create it, create value and sell it and have
1:05:13
Speaker 3: another hit and maybe getting the TV.
1:05:21
Speaker 4: But stay tuned. But that's the decision. You know how
1:05:25
Speaker 4: to make it. You know where the passion lies and
1:05:28
Speaker 4: is it still burning?
1:05:30
Speaker 2: Let me ask you this before we wrap some general questions.
1:05:33
Speaker 2: You say, you wrote the book Medicare Medicaid. We always
1:05:37
Speaker 2: had these issues that you know, it's so flawed, and
1:05:40
Speaker 2: you said, can you give us one of the solutions
1:05:41
Speaker 2: that you have in the book or something that why
1:05:45
Speaker 2: is it so flawed? And what are some like at
1:05:47
Speaker 2: least one thing you think can be done to fix it.
1:05:49
Speaker 2: You understand it.
1:05:50
Speaker 3: It's get rid of mandatory medical loss ratio requirements. So
1:05:56
Speaker 3: I shared with you earlier, out of one hundred dollars
1:05:59
Speaker 3: we receive in revenue, we're required by a lot of
1:06:01
Speaker 3: to spend eighty five dollars out of one hundred, eighty
1:06:04
Speaker 3: five percent on the direct cost of care hospital doctor pharmacy, dental, transportation,
1:06:09
Speaker 3: et cetera. Well, if you spend eighty five percent of
1:06:15
Speaker 3: your dollar every year medical cost inflation is two percent.
1:06:20
Speaker 3: It's been two percent forever, which means next year you're
1:06:23
Speaker 3: going to be spending your total costs. So the governments
1:06:26
Speaker 3: won paying the total costs. The taxpayers are paying, so
1:06:28
Speaker 3: eighty five it's like compound interest.
1:06:31
Speaker 4: Eighty What was eighty five percent? Not eighty five point
1:06:33
Speaker 4: two percent?
1:06:35
Speaker 2: Right?
1:06:36
Speaker 3: And then the next year is eighty five point two
1:06:38
Speaker 3: plus another two percent, so not eighty five point two,
1:06:40
Speaker 3: it's two percent of eighty five.
1:06:41
Speaker 4: It's great net, right, it's like one point seven. So
1:06:43
Speaker 4: then I goes up to eighty seven percent.
1:06:44
Speaker 3: Every year, the cost healthcare keeps going up because of inflation,
1:06:48
Speaker 3: and you're requiring folks to spend that money.
1:06:50
Speaker 4: You did know what I'm saying. So every year the
1:06:51
Speaker 4: cost of healthcare goes up. That's why it's crazy.
1:06:54
Speaker 3: What what you want to do is get rid of
1:06:55
Speaker 3: mandatory medical lost racial requirements and then incentivized companies to
1:06:59
Speaker 3: reduce the total cast care for their membership, and by
1:07:03
Speaker 3: doing that, they would What should be the case is
1:07:07
Speaker 3: if they reduce their cost to actually get more contracts
1:07:10
Speaker 3: with governments to do more business. That's usually how it works,
1:07:12
Speaker 3: like Walmart, Lord of costs, the more business you get.
1:07:15
Speaker 3: But the way government has said it is they have
1:07:17
Speaker 3: these mandatory medical loss racial requirements, which means you have
1:07:20
Speaker 3: to spend eighty five percent of your money and if
1:07:22
Speaker 3: you spend less than that, it's not legal. Well, the
1:07:24
Speaker 3: reason they do that, the government has done that is
1:07:27
Speaker 3: what they have been afraid of, are insurance companies skimping
1:07:31
Speaker 3: on care for the purposes of retaining its profit. So
1:07:34
Speaker 3: let's say Troy needs to go, you know, get some
1:07:36
Speaker 3: imaging done. He has some heart palpitation or something he
1:07:38
Speaker 3: wants to get checked out. Their worried. That means an
1:07:41
Speaker 3: insurance company. Let's say I'm Blue Cross, we should and
1:07:43
Speaker 3: he's my my member. I say no, Troy, you can't
1:07:47
Speaker 3: go get this imaging this imaging service because it's not
1:07:51
Speaker 3: a cover benefit, or I just don't want you to
1:07:53
Speaker 3: do it because you know it's gonna cost me a
1:07:55
Speaker 3: thousand dollars.
1:07:55
Speaker 2: You're insured.
1:07:56
Speaker 3: So to protect against that, to protect the people, they
1:07:59
Speaker 3: make these mandatory cost racial requirements. But the truth is
1:08:02
Speaker 3: in healthcare, because of somebody goes to emergency room. By law,
1:08:05
Speaker 3: the hospital has to see the person, and by law,
1:08:07
Speaker 3: I got to pay the bill. Then the percent of
1:08:10
Speaker 3: spending that can really be affected by me trying to
1:08:12
Speaker 3: skip on services, it's like less than ten percent, So
1:08:15
Speaker 3: it's really like seven percent. So if I can only
1:08:18
Speaker 3: affect seven percent, why are you forcing the system to
1:08:21
Speaker 3: overspend on the other.
1:08:22
Speaker 4: Ninety three percent? You dig what I'm saying.
1:08:25
Speaker 3: What should be the case, like anything in capitalism, is
1:08:29
Speaker 3: if I can get my cost lower, I should be
1:08:32
Speaker 3: able to get more business. I should be incentivized to
1:08:35
Speaker 3: get my cost down. And the only way to really
1:08:36
Speaker 3: get costs down in health care is get people healthier.
1:08:38
Speaker 3: Is but I explained to you on the homeless issue,
1:08:41
Speaker 3: I cut my cost in half because I got.
1:08:43
Speaker 4: Half my people housing.
1:08:47
Speaker 3: So I was sitting down at sixty five percent medical
1:08:50
Speaker 3: loss ratio, which the government thought was a bad thing,
1:08:51
Speaker 3: was while they forced me to get out of the industry,
1:08:55
Speaker 3: or sixty five percent is a good thing, because guess
1:08:56
Speaker 3: what happens if I'm in sixty five and the system
1:09:00
Speaker 3: is set to where I get more business because I'm
1:09:06
Speaker 3: a lower cost provider than my other competitors. To guess
1:09:08
Speaker 3: what the big companies that are in health insurance will
1:09:11
Speaker 3: now actually compete to get their costs lower. So if
1:09:15
Speaker 3: I had an impact doing things with homelessness and all
1:09:17
Speaker 3: this other stuff I did reducing you know, man, I
1:09:20
Speaker 3: had people matter, had thousand people who I stopped from
1:09:23
Speaker 3: from being hooked to diallasis for the rest of their life.
1:09:25
Speaker 4: I call it dialysis.
1:09:26
Speaker 2: Bro.
1:09:27
Speaker 3: If somebody has a one C which basically measuring the
1:09:31
Speaker 3: blood the sugar in someone's blood, if they're if it's
1:09:35
Speaker 3: five and a half or greater, that means they're diabetic.
1:09:38
Speaker 4: So it's less than five and a half.
1:09:39
Speaker 2: They're pre diabetic.
1:09:42
Speaker 3: No, actually less than seven, yeah, less than seven, you know,
1:09:46
Speaker 3: less than seven. But I have people. But then you
1:09:49
Speaker 3: let's say that they once see eight, nine, ten, eleven, twelve.
1:09:51
Speaker 3: That means any day they could be in they could
1:09:53
Speaker 3: require dallasis. And that's that's a bad thing because now
1:09:56
Speaker 3: the thallsans every day for the rest of their life
1:09:58
Speaker 3: until they get a transplant where they die. I had
1:10:00
Speaker 3: some thousand people, thousands people because I looked at my
1:10:03
Speaker 3: data who had a one seeds that were over seven,
1:10:05
Speaker 3: who have a one seeds that were growing over a
1:10:08
Speaker 3: period of time, right they had, they had seven point
1:10:10
Speaker 3: five out, they had a nine. Oh, I better focus
1:10:12
Speaker 3: on these people, get them in the care, get them
1:10:14
Speaker 3: a gu comra that give me real time notification when
1:10:16
Speaker 3: it spikes.
1:10:17
Speaker 4: And then my staff, you want to reach out to them.
1:10:19
Speaker 4: What do you have for lunch?
1:10:21
Speaker 2: Oh?
1:10:21
Speaker 4: You think it's healthy to eat eat food all the time.
1:10:23
Speaker 2: Guess what? Not so much?
1:10:25
Speaker 4: You know, what are you doing in changing behaviors?
1:10:27
Speaker 2: Right? And fruit? Fruit?
1:10:28
Speaker 1: Right?
1:10:28
Speaker 2: Yeah?
1:10:28
Speaker 3: A lot of times foo food it breaks down your body.
1:10:31
Speaker 3: And sugar, that's right, no question. So people think they're
1:10:34
Speaker 3: doing something healthy, but it's killing. But listen, listen, people
1:10:38
Speaker 3: watch this. Thousands of people, thousand people my aunt included,
1:10:43
Speaker 3: and many people y'all know included. But my aunt was
1:10:47
Speaker 3: on h room tod authritis since the last thirty four years.
1:10:52
Speaker 3: Well to treat room to the aarthritis is medications and
1:10:55
Speaker 3: most of them attack the kidney right, So over time
1:10:59
Speaker 3: it all interior kitty. Before you know it, they need Dallasis.
1:11:03
Speaker 3: But not because of lifestyle or eating habits. It's just
1:11:06
Speaker 3: because they're on a medication to treat something and instead
1:11:09
Speaker 3: it burns the kidney up.
1:11:10
Speaker 4: And now she's on Dallasis.
1:11:12
Speaker 3: We had thousands people that we identified through medications they're
1:11:14
Speaker 3: on and how long they're on it that A one
1:11:17
Speaker 3: C is that werising that we move a one C
1:11:19
Speaker 3: from being.
1:11:20
Speaker 4: In the hot bed the hot land.
1:11:22
Speaker 3: Of any day now you could be on dallasis dallasis
1:11:25
Speaker 3: role to being pre diabetic. Lifestyle behavior changes thousands of
1:11:30
Speaker 3: people because I care diet next to did diet most
1:11:34
Speaker 3: of the diet and medication compliance. A lot of people
1:11:37
Speaker 3: don't take the medication. Why sometimes make some shit or
1:11:40
Speaker 3: dialysis or not. Dallasis diarrhea, right, sure, a side effects
1:11:46
Speaker 3: so much health care can be fixed. But here's my
1:11:48
Speaker 3: real point. My point is we identified all these triggers
1:11:50
Speaker 3: and we did something about it, and through doing something
1:11:52
Speaker 3: about it, we gave people longer life, healthier life. Folks
1:11:55
Speaker 3: we avoided folks on dialysis and all those impacts. But
1:12:00
Speaker 3: not only that, we save a lot of money in
1:12:03
Speaker 3: the process, because when somebody is on diallasis guess what
1:12:06
Speaker 3: it costs every year eighty five thousand when you include
1:12:08
Speaker 3: the dialysis and going to the emergency room for a
1:12:10
Speaker 3: couple of times. It's being impatient eighty five thousand dollars years.
1:12:13
Speaker 3: But I'm only pay five thousand, which means I'm losing
1:12:15
Speaker 3: eighty thousand dollars per person on dallasis so what did
1:12:17
Speaker 3: I do.
1:12:17
Speaker 4: I'm getting on the front the moment. But what happens there,
1:12:22
Speaker 4: I save.
1:12:22
Speaker 3: Money and people have better healthier lives.
1:12:25
Speaker 2: Right.
1:12:26
Speaker 3: But that's a little old Tommy Dunky because Tommy duncan,
1:12:29
Speaker 3: which also I care about people, and the profit goes
1:12:33
Speaker 3: to my own pocketbook.
1:12:36
Speaker 4: So I'm doing.
1:12:37
Speaker 3: These things which are making a big difference that big
1:12:38
Speaker 3: companies aren't doing them. But if they actually incentivize, if
1:12:43
Speaker 3: you get your cost lower, which you can only do
1:12:45
Speaker 3: it doing things I just share with you, then the
1:12:47
Speaker 3: big companies will actually do what I'm doing, and they
1:12:49
Speaker 3: would do it way better because they have all the
1:12:50
Speaker 3: resources in the world, but right now they have no
1:12:52
Speaker 3: incent incentive to do it. Instead, then centive is just
1:12:54
Speaker 3: keep things status quo, which is why health care outcomes
1:12:57
Speaker 3: and status quo and the cost of system keeps going
1:12:59
Speaker 3: up every year, and the governor and the governments don't
1:13:03
Speaker 3: do it.
1:13:03
Speaker 2: How do how do we change it? Get political action?
1:13:06
Speaker 4: Political action, man, You just got to get political action, man.
1:13:09
Speaker 4: You got to get black governor. That's my that's my
1:13:12
Speaker 4: that's my headline. Get the black governor. That's what you
1:13:15
Speaker 4: need to do.
1:13:16
Speaker 2: When it's the last black governor in America. It was
1:13:20
Speaker 2: in Virginia, New York own the last guy. But that
1:13:23
Speaker 2: was that wasn't real long he was the governor. No,
1:13:26
Speaker 2: no disrespect to Patterson, but he wasn't elected.
1:13:29
Speaker 1: He wasn't elected, but he served as for he got
1:13:34
Speaker 1: out of this.
1:13:34
Speaker 2: But yeah, somebody coming in, got it, you know what
1:13:37
Speaker 2: they're doing. Virginia that was the last elected black governor.
1:13:40
Speaker 3: Yeah, this guy named I can't remember his name, but
1:13:42
Speaker 3: somebody really coming in. You know, it's a plan that
1:13:45
Speaker 3: what they're doing. They got a squad. You know, they
1:13:48
Speaker 3: have relationships now, you know.
1:13:50
Speaker 2: But even but even with the governor, like even if
1:13:52
Speaker 2: it's a black governor's like, I feel like you know
1:13:54
Speaker 2: better than me obviously, But this billions of dollars that's
1:13:58
Speaker 2: made in people being sick, Like you might have been
1:14:01
Speaker 2: losing money, but there's other companies or other people that's
1:14:04
Speaker 2: actually making money from people being sick. Treatment hospitals, companies, companies. Yes, Okay,
1:14:12
Speaker 2: so the lobby it might be, you know, too strong
1:14:16
Speaker 2: to push it, no matter who's the president or the
1:14:19
Speaker 2: governor or. I agree with that, but somebody has to
1:14:24
Speaker 2: have audacity and eliminated medical loss ratio actually can be
1:14:29
Speaker 2: viewed as a positive thing, even for the biotech companies,
1:14:33
Speaker 2: because then they would start to design things and market
1:14:36
Speaker 2: to the provider groups and insurance companies like actually keep
1:14:40
Speaker 2: people healthier and out the hospital. This medication is better
1:14:43
Speaker 2: or different.
1:14:44
Speaker 3: For this reason, the government has taken the stance because
1:14:48
Speaker 3: of what I shared earlier that if you do not
1:14:50
Speaker 3: police the insurance companies from skimping on care, there will
1:14:53
Speaker 3: skimp on care and that will be to the detriment
1:14:55
Speaker 3: of the public. And what I'm sharing with you is
1:14:57
Speaker 3: the way the system is designed from the inside. The
1:14:59
Speaker 3: only skip you can do is no more than ten
1:15:00
Speaker 3: percent of total spending. So you're sacrificing nine three percent
1:15:04
Speaker 3: because of this seven percent which happens all the time.
1:15:08
Speaker 2: There you have it, Ladian and gentlemen, Princes Detroit has
1:15:11
Speaker 2: spoken another classic. I appreciate you, brother, So what what
1:15:16
Speaker 2: what do the people need to tap in? Well? Can
1:15:18
Speaker 2: you say your information? All the information that you have
1:15:21
Speaker 2: about jet dot, Instagram, website and all of that stuff.
1:15:23
Speaker 3: I do it all, but before I do, I just
1:15:25
Speaker 3: want to make the comment. Any entrepreneurs out there, do
1:15:27
Speaker 3: your research on your business. You know, research the industry.
1:15:31
Speaker 3: What are the success rates where the failure rates and
1:15:33
Speaker 3: failure rates are okay, but why do they fail? You know,
1:15:37
Speaker 3: calculate your risk. Don't just jump out there. Calculate it,
1:15:41
Speaker 3: you know, particularly if you're an adult, meaning you have
1:15:43
Speaker 3: you know, responsibilities and you just can't.
1:15:46
Speaker 4: Just quit your job.
1:15:47
Speaker 3: I know so many people quit their job, think they're
1:15:48
Speaker 3: going to open the business. Then the business don't work, then
1:15:51
Speaker 3: they don't have a job board business. You know, all
1:15:55
Speaker 3: my businesses I started, I had something already gone right
1:15:58
Speaker 3: at this going I started, mind, so calculated my risk.
1:16:00
Speaker 3: Yeah I could lose it all, I could lose a lot,
1:16:02
Speaker 3: but I ain't gonna lose it all. At the time
1:16:04
Speaker 3: I started my decent business, I had a son, I
1:16:06
Speaker 3: was married with a son, and my wife was pregnant. Right,
1:16:09
Speaker 3: so I did these things. Again, I calculated my risk.
1:16:12
Speaker 3: So do your research. Understand your industry. Understand what is
1:16:16
Speaker 3: the best upside. Are you going into a lifestyle business,
1:16:19
Speaker 3: meaning you just want to be profitable and you make
1:16:21
Speaker 3: a million dollars a year, and you know, if that's
1:16:23
Speaker 3: the highest subside. That's a great lifestyle. But no, that's
1:16:25
Speaker 3: what you get into. Or you're trying to do a
1:16:27
Speaker 3: value creation business.
1:16:28
Speaker 2: Do what I did.
1:16:29
Speaker 3: You create something that may take a little more time,
1:16:32
Speaker 3: maybe it goes fast becus the technology. But guess what
1:16:34
Speaker 3: now you sell it four hundred million dollars billion dollars
1:16:36
Speaker 3: and then you actually get a lump sum of money.
1:16:39
Speaker 4: And I wanna tell you this.
1:16:39
Speaker 3: When you get lump some money, it's a beautiful thing. You
1:16:42
Speaker 3: could make five million dollars a year. That sounds good, right,
1:16:44
Speaker 3: you can make ten mill a year, But then you
1:16:45
Speaker 3: got half of taxes, and then you got lifestyle. You
1:16:47
Speaker 3: got a big house, you're living out here, you got
1:16:49
Speaker 3: a thousand cars. You know you're spending your money. But
1:16:53
Speaker 3: you get that lump sum, that big check that mighty
1:16:55
Speaker 3: be working for. You got to work that money working.
1:16:59
Speaker 3: You did what I'm say saying, like my money works,
1:17:01
Speaker 3: I ain't gotta do s hi t. My money be
1:17:04
Speaker 3: working in the stock market and this it's just working
1:17:08
Speaker 3: on its own. And that's where I decided I wanted
1:17:11
Speaker 3: to be and that's where I'm at. But really, know
1:17:13
Speaker 3: what you're trying to get into and what you're trying
1:17:15
Speaker 3: to get out of it. You know, do your research,
1:17:17
Speaker 3: do your homework. When I want a contract in DC
1:17:19
Speaker 3: is because I did. In addition to all things I
1:17:21
Speaker 3: talked about, right, you know, I did a political stuff
1:17:24
Speaker 3: and government contracts to people and all that kind of
1:17:26
Speaker 3: smooth stuff. But also I put together the best plan
1:17:29
Speaker 3: for the district.
1:17:31
Speaker 2: Right.
1:17:31
Speaker 3: I understood where the power was it was in DC.
1:17:33
Speaker 3: I understood the program for cbe for the minority business
1:17:36
Speaker 3: of DC. I understood all the healthcare can all the
1:17:41
Speaker 3: I read every article about healthcare in d C. DC
1:17:45
Speaker 3: is broken up by war to eight wars, like borough
1:17:48
Speaker 3: is probably New York. I understood the health issues of
1:17:51
Speaker 3: each borough in New York, and I put together a
1:17:53
Speaker 3: plan for and so anyway, I just really avied to
1:17:57
Speaker 3: do their homework. You know, calculator the risk, do your home,
1:18:00
Speaker 3: but take risks.
1:18:00
Speaker 2: Right.
1:18:01
Speaker 4: My shirt says what high risk. I'm a high risk, hard.
1:18:06
Speaker 3: Reward guy, you know. But you know, if you want more,
1:18:09
Speaker 3: you gotta do more. That being said Tommy two duncan on,
1:18:13
Speaker 3: I g at Tommy too.
1:18:14
Speaker 4: Duncan h.
1:18:17
Speaker 3: Jet doc my jet doc on I g jet dot
1:18:21
Speaker 3: dot com. The Prince of Detroit film. Go check that out,
1:18:24
Speaker 3: Prince of Detroit Film. That's what I'm doing.
1:18:26
Speaker 4: I'm having fun with that, and I got other things popping.
1:18:29
Speaker 3: But what I love to do on anything Rashot and
1:18:31
Speaker 3: Troy's talk about entrepreneurship to help people be successful. I
1:18:35
Speaker 3: feel like that's what what's missing in our community is
1:18:37
Speaker 3: real mentorship on kind of ropes to skip the ropes
1:18:40
Speaker 3: of note and I feel like y'all are doing it,
1:18:42
Speaker 3: and so I appreciate you having me on the show
1:18:43
Speaker 3: to do my little part.
1:18:44
Speaker 2: Thank you, appreciate you, man. I'm glad we was able
1:18:46
Speaker 2: to connect. Definitely look forward to, you know, establishing a
1:18:49
Speaker 2: stronger relationship, tons and tons of information and it's one
1:18:53
Speaker 2: of these things where we don't know a lot about,
1:18:56
Speaker 2: you know, the type of informational topics when it comes
1:18:59
Speaker 2: to healthcare. Yeah, and just to have somebody you know,
1:19:03
Speaker 2: that we can relate to. That's kind of been the
1:19:04
Speaker 2: formul of our success is just bring people on that
1:19:07
Speaker 2: people can relate to and break down very complex situations
1:19:11
Speaker 2: and make them understandable.
1:19:12
Speaker 3: And that's what you did. So thank you for joining us.
1:19:14
Speaker 3: Can do one more thing, for sure, one more thing
1:19:17
Speaker 3: all right right now, because of social media. Every industry
1:19:25
Speaker 3: is up for disruption. It's the first time in history.
1:19:27
Speaker 3: So before you know, most black people, folks who come
1:19:32
Speaker 3: from where we come from, had barriers right resources, know
1:19:38
Speaker 3: how I talked about that like real mentorship, but even
1:19:41
Speaker 3: access to resources. How do you get to clients? It
1:19:42
Speaker 3: costs money to market. Now through social media. I promise
1:19:47
Speaker 3: you everything is up for disruption. You could start a
1:19:50
Speaker 3: hot sauce company, mark that hot sauce and before you
1:19:53
Speaker 3: know it, you'll be bigger than Red Hot. You look
1:19:57
Speaker 3: around at pillows, anything you can, it's all up for disruption.
1:20:02
Speaker 4: It's the first time in history. That's the case where
1:20:03
Speaker 4: people can go.
1:20:04
Speaker 3: From whatever they're doing to become a billionaire overnight because
1:20:09
Speaker 3: they can talk directly to consumers.
1:20:12
Speaker 2: That's like us. We also said the whole industry when
1:20:15
Speaker 2: it comes to finance, and we have a show called
1:20:17
Speaker 2: Market Monday. Shot to Ian our partner on that, and
1:20:20
Speaker 2: it's like massively successful show. Every single Monday. We talk
1:20:24
Speaker 2: about stocks and investing. So shout out to Josh Brown.
1:20:27
Speaker 2: Josh Brown is on CNBC and he's been on Wall
1:20:31
Speaker 2: Street for like thirty years. Good guy. So he was
1:20:33
Speaker 2: talking and he was like yeah, your legia. They got
1:20:36
Speaker 2: the show and he was like them, they're influencing financial markets.
1:20:40
Speaker 2: He's like, there's like seven thousand people watching the show live.
1:20:43
Speaker 2: Like they're influencing financial markets more than anybody on the street. Geez.
1:20:48
Speaker 2: He said that, and that was crazy. But it's true crazy,
1:20:52
Speaker 2: and it's like you know what I'm saying. It's just
1:20:53
Speaker 2: say it's like it that's game changing, man.
1:20:55
Speaker 1: Yeah, the disruption at its finance. So I'll leave you
1:20:59
Speaker 1: with this.
1:21:00
Speaker 3: Make sure you know as you're doing what you're doing,
1:21:02
Speaker 3: have somebody legal doing your research. Keep you all in
1:21:04
Speaker 3: compliance because it's more prowfer you get, they'll be coming
1:21:07
Speaker 3: at you.
1:21:08
Speaker 2: Yeah, that's what just said that. He just said that.
1:21:12
Speaker 2: That's what Dave said yesterday. That's a fact. No, I
1:21:16
Speaker 2: appreciate that, brother. Definitely definitely Troy housekeeping idols. Man, I
1:21:20
Speaker 2: want to. I want to.
1:21:21
Speaker 1: Dame also said that we should mention this that there
1:21:24
Speaker 1: was a Wolf of will Street.
1:21:24
Speaker 2: This is the Wolf of Healthcare. Yeahl of health wolf
1:21:27
Speaker 2: of Healthcare.
1:21:27
Speaker 1: And I had the word Prince of Detroit, but we
1:21:31
Speaker 1: might have to nominate them for another title.
1:21:35
Speaker 2: Because this is this is pretty legendary. That being said
1:21:38
Speaker 2: Shout out to Jed Talk.
1:21:39
Speaker 1: And one of the things I know that you guys
1:21:41
Speaker 1: prob yourself on is affordability and accessibility, and so I
1:21:45
Speaker 1: want to encourage people just to check it out. Just
1:21:47
Speaker 1: check it out. But yeah, shout everybody on pictureon dot com.
1:21:50
Speaker 1: That is our product to paid program. Shout told earners
1:21:53
Speaker 1: that are on there. Shout to everybody in e y
1:21:54
Speaker 1: L University staff has grown, y'all. Shout out to the
1:21:58
Speaker 1: earners and shout everybody. Uh with the merch.
1:22:01
Speaker 2: I know y'all see us with the exclusive merch. Oh,
1:22:04
Speaker 2: speaking of Detroit, shout out to my boy Chill. Oh yeah, yeah, no,
1:22:07
Speaker 2: that's Southwest's son, and he gave me this murch He's real.
1:22:12
Speaker 2: He's a friend of a good friend. It's very rare
1:22:14
Speaker 2: when we wear something that's not show. But my man Chill,
1:22:18
Speaker 2: they just got in the legal marijuana business. They're working
1:22:20
Speaker 2: with Al Harrington. Shout out to Al Harrington Viola and
1:22:23
Speaker 2: they got a strand and this was the drop of
1:22:25
Speaker 2: his new strands. So shout out to Chill. Shout out
1:22:28
Speaker 2: to his dad Southwest. He got a chance to chop
1:22:30
Speaker 2: it up with him. Good guy. Shout out to all
1:22:32
Speaker 2: the guys in Detroit, man, real, real, solid, old school
1:22:35
Speaker 2: type of just get money. Yeah, you know, it's a
1:22:38
Speaker 2: good vibe out there. That's my city. I like it, man.
1:22:43
Speaker 2: So shout shout out to my boy chill Man. Yeah.
1:22:45
Speaker 1: But again, shoutout to the merch team. Shout to that
1:22:47
Speaker 1: boy Mike Iye Boguard for the exclusive drops. We got
1:22:51
Speaker 1: something that we brewing. Trust me, it's going to be major.
1:22:53
Speaker 1: Uh Yeah, love us love, Thank you guys for rocking
1:22:56
Speaker 1: with us. We'll see you next week.
1:22:57
Speaker 2: Peace. My graduates from my school being false backdrop b
1:23:05
Speaker 2: drop a mic drop backdrop Drop earners. What's up?
1:23:20
Speaker 1: You ever walk into a small business and everything just
1:23:23
Speaker 1: works like? The checkout is fast, the seats are digital,
1:23:26
Speaker 1: tipping is a breeze, and you're out the door before
1:23:29
Speaker 1: the line even builds. Odds are they're using Square. We
1:23:34
Speaker 1: love supporting businesses that run on Square because it just
1:23:36
Speaker 1: feels seamless. Whether it's a local coffee shop, a vendor
1:23:39
Speaker 1: at a pop up market, or even one.
1:23:41
Speaker 2: Of our merch partners.
1:23:43
Speaker 1: Square makes it easy for them to take payments, manage inventory,
1:23:47
Speaker 1: and run their business with confidence, all from one simple system.
1:23:51
Speaker 1: One of the things we love most is seeing neighborhood
1:23:53
Speaker 1: businesses level up. Disney's West Indian spot right in our
1:23:57
Speaker 1: community that started with a small takeout counter. Now with Square,
1:24:01
Speaker 1: they've been able to expand into a full sit down
1:24:03
Speaker 1: restaurant and even started catering events across the city. That's
1:24:07
Speaker 1: the kind of growth that inspires us, and it's powered
1:24:10
Speaker 1: by Square. Square is built for all types of businesses,
1:24:14
Speaker 1: from the corner bagel shop that turned into a local chain,
1:24:17
Speaker 1: to the specialty market with thousands of unique items, to
1:24:20
Speaker 1: the stylist who's been holding you down for years. If
1:24:23
Speaker 1: you're a business owner or even just thinking about launching
1:24:26
Speaker 1: something soon, Square is hands down one of the best
1:24:29
Speaker 1: tools out there to help you start, run and grow.
1:24:33
Speaker 1: It's not just about payments, it's about giving you time
1:24:36
Speaker 1: back so you can focus on what matters most ready.
1:24:39
Speaker 1: To see how Square can transform your business, visit Square
1:24:42
Speaker 1: dot com backslash, go backslash eyl to learn more that
1:24:47
Speaker 1: Square dot com backslash, go backslash eyl. Don't wait, don't hesitate.
1:24:53
Speaker 1: Let Square handle the back end so you can keep
1:24:55
Speaker 1: pushing your vision forward.