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EYL #9 Billionaire Boys Club. · Earn Your Leisure

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1:19
Speaker 2: Welcome back, Welcome back, Earn your Liegia's Podcast Episode nine.
1:23
Speaker 2: Before we start anything, we just want to thank you
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Speaker 2: journey a little bit more. It's all laid out. So
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Speaker 2: that's on there as well. Feel free to support. So, yes,
2:17
Speaker 2: we are jumping right into it with the marijuana business.
2:23
Speaker 3: So back home smoking legal, all right.
2:25
Speaker 4: So that that was a line that Drake said in
2:28
Speaker 4: Meek Mills's song, And it's important that people take note
2:33
Speaker 4: of what we're about to say because we're not saying
2:34
Speaker 4: we're four again.
2:35
Speaker 3: We're just gonna give.
2:36
Speaker 2: Them some fast. It's not a stance. It's not a stance.
2:39
Speaker 2: Look me personally, I don't smoke. I never smoked. I
2:42
Speaker 2: don't have anything against anybody that smokes. It's personal preference.
2:46
Speaker 2: But I'm not saying we're not saying that it should
2:49
Speaker 2: be legal, that it shouldn't be legal. We're just laying
2:51
Speaker 2: out the facts, giving you dialogue and just something to
2:54
Speaker 2: think about.
2:54
Speaker 4: And we're gonna look at it from the business perspective
2:56
Speaker 4: because it is a multi billion dollar business and I'm
2:59
Speaker 4: not sure if people really understand the potential growth that
3:03
Speaker 4: the marijuana business has. But we're going to break it
3:05
Speaker 4: down and talk about some people who have invested in
3:08
Speaker 4: the business and are seeing some benefits already. So well,
3:11
Speaker 4: let's just start from a legality standpoint.
3:13
Speaker 2: Well, let's start even before we go there, I want
3:15
Speaker 2: I want to give a quick story that we put
3:16
Speaker 2: on our Instagram page of Al Harrington.
3:20
Speaker 3: Shout out to him.
3:21
Speaker 2: Shout out to Al Harrington. Anybody not familiar with hol Harrington.
3:23
Speaker 2: How Harrington was an NBA player for I think like
3:26
Speaker 2: ten years something like that.
3:27
Speaker 3: He had an extended career.
3:28
Speaker 2: Yeah, he was in the lead for a while. Yeah,
3:29
Speaker 2: and he towards the end of his career he started
3:33
Speaker 2: getting a lot of injuries. Right, So, how he was
3:36
Speaker 2: able to cope with the injuries that he started to smoke.
3:39
Speaker 4: He started, so he had a couple of knee surgeries,
3:42
Speaker 4: and one of the knee surgeries actually the effect of it,
3:45
Speaker 4: he had a staff infection, and he was prescribed all
3:49
Speaker 4: types of medicines and they really weren't working for him.
3:53
Speaker 4: And he figured out, hey, I'm in a state and
3:56
Speaker 4: twenty eleven twenty twelve season, I think he gets hurt
3:59
Speaker 4: and he's he's in a state where marijuana is now
4:02
Speaker 4: legal for medical use, Colorado. So he's playing for the
4:05
Speaker 4: Nuggets Deviver Nuggets at the time, and he's in Colorado.
4:08
Speaker 4: In twenty twelve, they passed medical marijuana to be used
4:11
Speaker 4: for digital marijuana, and he decides, I'm gonna try this now.
4:15
Speaker 4: He never smoked too, He had your stance. He had
4:17
Speaker 4: never smoked, and he stands by that throughout high school.
4:21
Speaker 3: And even the professionally.
4:22
Speaker 4: You never smoked, but decided, you know, after reading up
4:25
Speaker 4: on it, I'm going to give it a try. And
4:27
Speaker 4: he sees the benefits of it right away.
4:30
Speaker 2: Yeah. So, and then also what he does is that,
4:32
Speaker 2: you know, the NBA has strict guidelines as far as drugs.
4:36
Speaker 2: Weed is still considered the drug right in most states.
4:39
Speaker 3: And still illegal federally.
4:40
Speaker 2: Federally, yes, So he invests five million dollars into a
4:44
Speaker 2: marijuana company because he sees the business side of it
4:47
Speaker 2: once he starts to see the medical benefits of it,
4:49
Speaker 2: but he doesn't want to put his name on it. Yeah,
4:51
Speaker 2: so he does it through his cousin's name right right
4:54
Speaker 2: into a company named Viola Viola Astracts. So now the
4:57
Speaker 2: company is in four different states, it employs seventy employees,
5:03
Speaker 2: and he's looking to have a future billion dollar valuation
5:05
Speaker 2: once and if it goes legal on a national level.
5:08
Speaker 2: So now he's like a spokesperson because he's not in
5:11
Speaker 2: the league anymore, so he doesn't have to worry about backlash.
5:13
Speaker 2: And it's actually ironic because I just saw on All
5:15
Speaker 2: Star weekend where the NBA invited him to come in
5:18
Speaker 2: and speak to the players stuff like that. So they're
5:21
Speaker 2: actually embracing him as a marijuana ambassador. Yeah, he had
5:25
Speaker 2: a big co sign.
5:26
Speaker 4: David Stern, who was the former NBA commissioner, said, you
5:29
Speaker 4: know what, I didn't believe, didn't believe in that stance
5:32
Speaker 4: that players should be able to use it. But now
5:33
Speaker 4: listening to Al Harrington after he met with him a
5:36
Speaker 4: few times, he's like, you know what, Al, If it's
5:37
Speaker 4: going to keep players on the court and not sit
5:40
Speaker 4: out games and rest, I'm all for it. Now he's
5:42
Speaker 4: not the commission anymore, Adam silver is, but that's.
5:44
Speaker 3: A big co sign.
5:45
Speaker 4: That's a you know, he's a former commission of a
5:47
Speaker 4: major sports league in America, So that's a huge co sign.
5:49
Speaker 2: No, it is. And the thing about it also, so
5:52
Speaker 2: now we have to talk about some legalities of it. Right.
5:54
Speaker 2: So there's a lot of different complexities in the marijuana industry,
5:58
Speaker 2: marijuana business, right. So one of the main issues is
6:01
Speaker 2: that some states it's legal, but it's still not legal
6:04
Speaker 2: on a federal level.
6:05
Speaker 4: Right, So thirty three states allow medical marijuana. We live
6:10
Speaker 4: in New York is one of those states. But then
6:12
Speaker 4: there are ten states who have legalized recreational which means
6:15
Speaker 4: you're allowed to carry it.
6:17
Speaker 3: I believe up to one ounce.
6:19
Speaker 4: If it's something you carry and if it's like a concentrate,
6:22
Speaker 4: which means it's in an edible product, I think it's
6:24
Speaker 4: maybe one eighth of an ounce. So the ten states,
6:27
Speaker 4: and you said that Al Harrington has seventy employees. Obviously,
6:31
Speaker 4: his employees are from for of those states, California, Oregon, Washington, Michigan, Vermont, Maine, Nevada, Alaska,
6:41
Speaker 4: New Hampshire. I think maybe not yet, not yet. New
6:45
Speaker 4: Mexico is like going to be the next one. So
6:47
Speaker 4: there's ten and obviously Washington, DC we say states, but
6:50
Speaker 4: the District of Columbia also has medical and recreational.
6:54
Speaker 2: Yeah. So it's interesting because before, like a couple of
6:58
Speaker 2: years ago, one of the biggest businesses in Colorado when
7:00
Speaker 2: Colorado first legalized marijuana, one of the biggest businesses was security.
7:05
Speaker 2: So they had all these Navy seals and ex marines
7:08
Speaker 2: and things of that nature that were like carrying m
7:11
Speaker 2: sixteens and machine guns, and they would arm security for
7:16
Speaker 2: the dispensaries. Because the dispensaries was a cash business, they
7:19
Speaker 2: couldn't accept credit cards and they couldn't put their money
7:22
Speaker 2: in banks, so they literally had warehouses full of cash, right,
7:25
Speaker 2: and obviously you have warehouses full of cash, you're a target.
7:28
Speaker 2: That's dangerous. So being at the security business in Colorado
7:33
Speaker 2: were like skyrocketed overnight because they couldn't So now what's
7:37
Speaker 2: happening is that at that point in time, no bank
7:39
Speaker 2: in the country wanted to even run the risk of
7:42
Speaker 2: handling finances for a marijuana company because it's illegal. On
7:46
Speaker 2: a federal level, you can get arrested.
7:48
Speaker 4: Yeah, So there were some stories where you had shops
7:50
Speaker 4: that would over dispensaries that would open up right on
7:53
Speaker 4: a state level it was legal, but if the federal
7:55
Speaker 4: government came in, they could shut you down pretty much.
7:58
Speaker 2: Yeah.
7:58
Speaker 3: So it's like it's a rest Yeah.
8:00
Speaker 2: So but now there's actually four hundred I think four
8:03
Speaker 2: hundred and eleven banks and credit unions that are currently
8:06
Speaker 2: doing business with marijuana companies and they're looking to experience.
8:08
Speaker 2: But there's actually a bill in Congress now from two
8:11
Speaker 2: Democratic House members that wants to give safe haven to
8:16
Speaker 2: any bank or any credit union to do business with
8:20
Speaker 2: a marijuana company.
8:21
Speaker 3: Yeah. So this is like a little fun fact.
8:23
Speaker 4: So Colorado has more dispensaries than they have Starbucks and
8:27
Speaker 4: McDonald's combined. And when we think of like franchises, like
8:31
Speaker 4: obviously we said on a few episodes ago that McDonald's
8:33
Speaker 4: was the largest franchise in the world, it is they
8:36
Speaker 4: have more marijuana dispensaries than those two franchises combined.
8:40
Speaker 3: So this is like a billion dollar business that's happening.
8:43
Speaker 2: No, I mean it's like prohibition, right, Like a lot
8:46
Speaker 2: of people don't really fully understand that alcohol was illegal
8:48
Speaker 2: at one point.
8:49
Speaker 4: Yeah, eighty years ago is when they started making marijuana illegal.
8:52
Speaker 4: And that goes into a deeper discussion, right when we
8:55
Speaker 4: look and there's a documentary it's called The House I
8:58
Speaker 4: Live In and it talks about population control. Right, So
9:02
Speaker 4: if people are doing things that are taken away from jobs,
9:05
Speaker 4: from the people that dominate population, how do you stop it?
9:09
Speaker 4: You start criminalizing the things they do. So if marijuana
9:12
Speaker 4: was something that was being used and grown, let's criminalize that.
9:15
Speaker 4: If it was in the West coast, right, and it
9:17
Speaker 4: was opium that was being used, let's criminalize that. So
9:19
Speaker 4: we've seen that there's a deeper history.
9:21
Speaker 2: When I mean, even with this whole So you know
9:24
Speaker 2: what POW stands for prison of war, right, So it's like, okay,
9:28
Speaker 2: so now it's looking like the tide is turning on
9:30
Speaker 2: this and marijuana is gonna be made legal. It's just
9:32
Speaker 2: a matter of just a matter of time. So there's
9:36
Speaker 2: the war on drugs, right, quote unquote, So how many
9:40
Speaker 2: people are serving jail time for marijuana.
9:43
Speaker 4: Ye, like that, shout out to Biggs, right, So that
9:47
Speaker 4: was that was one of those dope quotes that I
9:48
Speaker 4: think flew over people's heads. Like Big Bird, who was
9:53
Speaker 4: one of the co founders of Rockefeller was locked up
9:55
Speaker 4: for five years for marijuana charges, right, so and he
9:58
Speaker 4: said that. I think Jay said that on the he
10:00
Speaker 4: was like, shout out to Busi's back in the church
10:03
Speaker 4: when I heard you got locked that that hurt took
10:05
Speaker 4: a good dude, locked them over with some dirt, Like, yeah,
10:09
Speaker 4: it's legal in Colorado. So it's like, it's crazy, right,
10:12
Speaker 4: this dude did time, was away from his family, and
10:15
Speaker 4: how many other people are just like that doing more
10:17
Speaker 4: severe sentences for marijuana. And now in maybe five to
10:21
Speaker 4: ten years, this is going to be something that's legal
10:23
Speaker 4: legally nationally everywhere.
10:25
Speaker 2: Yeah, And I think one of the things about it,
10:28
Speaker 2: I've heard that if you have a criminal record in drugs,
10:34
Speaker 2: you're not allowed to get a license to open up
10:36
Speaker 2: a dispensary.
10:37
Speaker 3: Yes, it's crazy, man.
10:38
Speaker 4: So and that's so the blueprint has been laid because
10:42
Speaker 4: when we think of the United States of America, right,
10:45
Speaker 4: we think North America. There's obviously to other countries. Canada
10:48
Speaker 4: has made marijuana legally throughout the entire nation, right, so
10:52
Speaker 4: their country is completely federally fun that you can sell
10:56
Speaker 4: and use marijuana in Canada, which is why we started
10:59
Speaker 4: with the back home smoking legal because obviously Drake is
11:01
Speaker 4: for Toronto. So when he says that line, that's real,
11:04
Speaker 4: like the country of Canada is marijuana is legal.
11:08
Speaker 2: Yeah, that's like we want to match, yall, somebody was
11:12
Speaker 2: smoking weed. That's before this whole thing started to turn
11:16
Speaker 2: and after about the NA something when he was like,
11:18
Speaker 2: imagine smoking weed in the street without cops harassing.
11:20
Speaker 3: That day is upon us.
11:23
Speaker 2: That's a fact.
11:23
Speaker 3: That day is upon us.
11:25
Speaker 2: Man.
11:25
Speaker 4: So we said it's a billion dollar business. Here's some
11:27
Speaker 4: numbers behind it. In twenty seventeen, the marijuana legalization of
11:34
Speaker 4: it has gross nine point seven billion in North America. Right,
11:38
Speaker 4: they expected to have a eight percent increase over the
11:41
Speaker 4: next four years, which would be mean by twenty twenty one,
11:44
Speaker 4: it should be a twenty five billion dollar business.
11:46
Speaker 3: Twenty five billion dollars just.
11:48
Speaker 4: By legalizing something that a lot of people use in
11:54
Speaker 4: all aspects of life. Doctors, lawyers, teachers, pickup profession, A
11:58
Speaker 4: lot of people use the drug and there's benefits of it.
12:01
Speaker 4: So when we talked about Al Harrington, one of the
12:04
Speaker 4: things he said is that it's better than the prescription
12:06
Speaker 4: drugs that they do because number one, it's natural. And
12:11
Speaker 4: for him it was a pain relief and not just
12:13
Speaker 4: smoking marijuana. But I think he was using marijuana cream.
12:15
Speaker 4: I think he had a cream that had marijuana and
12:18
Speaker 4: he was using that for his ailments. And he had
12:22
Speaker 4: another person who said it was Steve Kerr, Steve Kurdit,
12:25
Speaker 4: coach of Golden State Warriors Man. He was like, I
12:27
Speaker 4: had back surgery in my career and rather than taking pills,
12:31
Speaker 4: I was using marijuana.
12:31
Speaker 2: Well, medicine is a drug, right, so prescription I mean
12:35
Speaker 2: we see that now, right, opioid addiction. So if you
12:38
Speaker 2: get prescribed volume or any other type of drug, that
12:45
Speaker 2: probably has worse effects than marijuana.
12:47
Speaker 3: Yeah, but as we see, you know, it was, it
12:51
Speaker 3: was criminalized.
12:51
Speaker 4: And recently this week we had David Irvin you see
12:55
Speaker 4: their Cowboys player. No, he's quitting, so he got find no,
13:01
Speaker 4: suspend it indefinitely.
13:02
Speaker 3: From the NFL.
13:03
Speaker 4: The NFL's rules on obviously the drug policies are very strict,
13:07
Speaker 4: but he said he's quitting the NFL. He's gonna he's
13:09
Speaker 4: gonna do smoke weed. And it was like a huge
13:12
Speaker 4: thing and everybody was like, wait what, this doesn't even
13:14
Speaker 4: make any sense. And his thing was like yo. His
13:17
Speaker 4: his stance is like, I'm using it for medical reasons.
13:19
Speaker 4: Why am I being suspended for it? So like now
13:22
Speaker 4: these twenty five years old.
13:23
Speaker 2: The NFL are they don't only lead that test for marijuana.
13:26
Speaker 4: No, all leagues do, but the leniency is different. So
13:29
Speaker 4: the NFL, and that was one of the things that
13:31
Speaker 4: people are arguing, like why is this still a policy
13:34
Speaker 4: right if people are using it to heal from injury and.
13:36
Speaker 2: It's not performance enhancing drugs.
13:38
Speaker 4: Right, So the argument is like we and I heard
13:41
Speaker 4: Stephen A say this, he doesn't want to see his
13:43
Speaker 4: ass the people that.
13:44
Speaker 3: He's paying to come see inebriated.
13:46
Speaker 4: And I'm like, okay, that's cool, but do you stop
13:48
Speaker 4: them from drinking alcohol the night before the game?
13:51
Speaker 3: Right?
13:51
Speaker 4: Do you stop them from slover cigarettes an hour before
13:54
Speaker 4: the game? So I mean it's a long list of
13:56
Speaker 4: things that we can go into.
13:57
Speaker 2: Yeah, I personally think that once you see laws being
14:03
Speaker 2: passed or proposed to make it federally legal for banks
14:08
Speaker 2: to harbor money. So once the money comes into the banks,
14:11
Speaker 2: everything follows the money, right, So once the money comes
14:13
Speaker 2: into the banks and that's legal, then it's just a
14:16
Speaker 2: domino effect from there. So a lot of people are
14:17
Speaker 2: interested in marijuana. I always tell people all the time,
14:20
Speaker 2: do your research and understand what you're investing in because
14:22
Speaker 2: there are a lot of companies and all companies aren't
14:24
Speaker 2: the same. But that's interesting from a political standpoint because
14:29
Speaker 2: like I said, the money always precedes the law. So
14:32
Speaker 2: once the bank, if that bill actually does pass, it's
14:36
Speaker 2: just a matter of time because there's too much money.
14:38
Speaker 2: It's billion trillion dollars out there, and there's too much
14:41
Speaker 2: money for it not to be capitalized on, for banks
14:45
Speaker 2: not to take advantage of it, for institutions not to
14:47
Speaker 2: take advantage of it, but everybody not take advantage of it.
14:50
Speaker 2: So whether you're a pro or for it, probably will happen. Yeah,
14:56
Speaker 2: it is what it is.
14:57
Speaker 3: And Snoop Dogg probably the lead kind of sore.
15:00
Speaker 4: He had a venture capital from that raised forty five
15:02
Speaker 4: million dollars in three years, right, So people are investing
15:05
Speaker 4: in it at an all time rate. Wes Khalif is
15:07
Speaker 4: another guy who's made a career off the use of marijuana.
15:11
Speaker 3: Same thing. And Mike Tyson, we just know about that.
15:15
Speaker 2: Mike Tyson is opening a forty acre ranch in California, California,
15:20
Speaker 2: So all right, well marijuana interesting. It's only gonna, you know,
15:27
Speaker 2: get more headlines. I think as time goes and we'll see,
15:30
Speaker 2: we'll see what happens.
15:30
Speaker 4: Yeah, And just the last thing is that yesterday it's
15:33
Speaker 4: legal in those states, but you have to be twenty one.
15:35
Speaker 3: So how do we stop kids from using it?
15:36
Speaker 4: So twenty one is the age that you have to
15:39
Speaker 4: be in order to use recreational or medical marijuana.
15:42
Speaker 2: Yes, smoke responsibly people. All right, now we're gonna go
15:47
Speaker 2: into real estate. Right, We're gonna real estate is vast,
15:50
Speaker 2: so we're gonna talk about we're gonna chop real estate
15:52
Speaker 2: up into different segments with different shows. But today we're
15:55
Speaker 2: going to talk about appraisals right home appraisals in We're
15:59
Speaker 2: going to attack it from a different standpoint. So I
16:01
Speaker 2: actually wrote a post about this on my Instagram page
16:03
Speaker 2: a while back, if anybody follows me. So, there was
16:06
Speaker 2: a recent study by the Bookings Institute in Gallop which
16:10
Speaker 2: shows that homes and majority black neighborhoods are undervalued during
16:15
Speaker 2: their paygel process by forty eight thousand dollars per home,
16:19
Speaker 2: which amounts to one hundred and fifty six billion dollars
16:23
Speaker 2: in primulative losses nationwide. So what happens is that they're
16:27
Speaker 2: saying that black homes are valued at twenty three percent
16:31
Speaker 2: lower than the white counterparts. So obviously how they do
16:34
Speaker 2: that is that they base it like the same home, right,
16:37
Speaker 2: so it has to be like three bedroom, two bath
16:40
Speaker 2: home and a black neighborhood three badroom. Yeah, exactly comparable.
16:43
Speaker 2: Who we call in the real estate industry comparables, right,
16:45
Speaker 2: So they're not going to compare a one bedroom apartment
16:47
Speaker 2: to a mansion. They compare the same exact home, same
16:50
Speaker 2: exact space, backyard, all of.
16:51
Speaker 3: That stuff within the same zip code.
16:54
Speaker 2: Right. So on average, the black home is value that
16:58
Speaker 2: forty eight thousand and less than the white home. So
17:02
Speaker 2: what happens is that now it affects people in a
17:05
Speaker 2: lot of different ways. Right. So now when you have
17:08
Speaker 2: less value when you sell your home, right, you're getting
17:11
Speaker 2: less money, right, You're also it lowers your net worth, right,
17:16
Speaker 2: it lowers your equity that you can borrow from because
17:18
Speaker 2: the value of the home is less. So it's a
17:20
Speaker 2: lot of negative effects for that. Right. So some people
17:22
Speaker 2: will say, okay, well, the reason that the black homes
17:27
Speaker 2: and then black neighborhoods are lower than white neighborhoods is
17:32
Speaker 2: because black neighborhoods unfortunately, a lot of times you have
17:35
Speaker 2: higher crime rates. It sometimes maybe a longer commute, bad schools,
17:40
Speaker 2: So all of that stuff plays a factor in the
17:41
Speaker 2: home value. Right, And that's true, But the studies showed
17:45
Speaker 2: that that only accounts for actually half of the devaluation.
17:50
Speaker 2: So what happened to the other seventy eight billion? Right,
17:53
Speaker 2: So that only accounted for one seventy eight billion, But
17:56
Speaker 2: the other seventy eight billion is not accounting for in
17:58
Speaker 2: all those other factors. So this this is what the
18:00
Speaker 2: study show, not me. So the Booking Institute, in the Gallop,
18:04
Speaker 2: they came to the conclusion that the other seventy eight
18:06
Speaker 2: billion dollars in devaluation was solely due to one thing.
18:12
Speaker 2: You know what that one thing is a racism. Right.
18:15
Speaker 2: They just said that they just valued black homes lower. Right,
18:20
Speaker 2: When a praiser comes, he just looks at a black
18:22
Speaker 2: home as being worse less than a white home. It's
18:25
Speaker 2: just that's what it is. That's what that's what it
18:28
Speaker 2: accounted for. Right, So this is a troubling statistic, right,
18:33
Speaker 2: for a lot of different reasons. But the main reason
18:37
Speaker 2: is that, you know, one of the things that you know,
18:39
Speaker 2: you always taught in America is that you do good
18:42
Speaker 2: you buy a home. You know, that's like the number
18:44
Speaker 2: one way to preserve wealth for your family. Do the
18:46
Speaker 2: right things, and you can sell your home. But now, ay,
18:50
Speaker 2: it's already discriminatory practices and actually buying a home, right,
18:53
Speaker 2: that's been proven. And now even if you do buy
18:56
Speaker 2: the home, it's devalued just because you live in it. Yeah. Right.
19:01
Speaker 2: So it was interesting when I wrote that story because
19:05
Speaker 2: a lot of people were going back and forth like, well,
19:08
Speaker 2: I don't believe that. It's like, you know, a lot
19:11
Speaker 2: of people don't believe that racism is actually real.
19:14
Speaker 3: It's a real thing.
19:15
Speaker 2: But the thing about it is that it doesn't even
19:16
Speaker 2: affect people just in black neighborhood. They can affect a
19:19
Speaker 2: white a black family living in a white neighborhood. Right. So,
19:24
Speaker 2: as I said, so, a lot of times people were saying,
19:26
Speaker 2: like this is just made up I don't believe it. Yeah,
19:29
Speaker 2: so now being that we have a personal story to
19:34
Speaker 2: confirm it, Yeah, you're going to go into your story. Yeah.
19:37
Speaker 4: You know what when you wrote the article and I
19:39
Speaker 4: had no idea you were writing an article, I thought
19:41
Speaker 4: you were writing it about me. I honestly was like, Yo,
19:44
Speaker 4: this guy just wrote my story. And I told you.
19:46
Speaker 4: I'm like, oh, you serious, and you're like nah, this
19:48
Speaker 4: is like factual needs, this is this is the evidence.
19:51
Speaker 4: And I'm like, oh wow, this is really happening. So
19:54
Speaker 4: uh two years ago, almost about two years ago, I
19:58
Speaker 4: was in the process of buying a home and that
20:01
Speaker 4: comes let's go back. I wasn't going to be in
20:04
Speaker 4: the process if it wasn't for you. And that was
20:06
Speaker 4: part of the early leisure conversation. My family was about
20:10
Speaker 4: to move and you were like, hey, why don't you
20:12
Speaker 4: go in and buy a home? And I was like, I
20:14
Speaker 4: had not getten any thought. I'm like, you know what,
20:16
Speaker 4: maybe maybe you was shot out, maybe I should do this.
20:20
Speaker 4: So you sparked that in my mind, I'm like, all right, Well,
20:22
Speaker 4: I presented the proposal to my family and they were like,
20:25
Speaker 4: let's do this.
20:26
Speaker 3: And one of the things we had to do was
20:28
Speaker 3: get the house of praise.
20:29
Speaker 4: Now, my family bought the home in twenty ten, and
20:35
Speaker 4: the house was valued at five hundred and seventy five thousand.
20:39
Speaker 4: That's what it was valued at. We bought it for
20:41
Speaker 4: five hundred and twenty five thousand. That was a purchase
20:45
Speaker 4: price in twenty ten. Long story short, part of my
20:49
Speaker 4: family wanted to move to another area. So I came
20:52
Speaker 4: in and I went in on a deal with my
20:55
Speaker 4: father and.
20:56
Speaker 3: We got the house.
20:58
Speaker 4: And the process of praisal was an alarming one because
21:03
Speaker 4: when he the appraisal I won't say his name, we're
21:05
Speaker 4: actually still in there.
21:06
Speaker 3: We wrote a Consumer Reports review about it.
21:09
Speaker 4: The appraisal man came in and said that the house
21:13
Speaker 4: had devalued. Now we have added things to the home,
21:17
Speaker 4: you know, the typical things obviously stay in still furniture,
21:20
Speaker 4: I mean stay in still, appliances, would floors, all all
21:23
Speaker 4: the things that you would add to, you know, increase
21:25
Speaker 4: value in your home. And in the eight year, eight
21:28
Speaker 4: year period, the house went from being purchased at five
21:32
Speaker 4: hundred and twenty five thousand to now being five hundred
21:35
Speaker 4: and ten thousand.
21:36
Speaker 2: So all right, so you brought a house in New
21:38
Speaker 2: York in the suburbs of New York Westchester, which is
21:41
Speaker 2: anybody's not familiar. It's affluent, pretty affluent neighborhood.
21:44
Speaker 3: White plans in New York.
21:45
Speaker 2: Okay, so you buy a house for five hundred and
21:48
Speaker 2: how much?
21:49
Speaker 3: Five hundred and twenty.
21:52
Speaker 2: Yeah, seven years where there is no market correction. Real
21:56
Speaker 2: estate has only gone up right in New York and
21:58
Speaker 2: across America as a whole, but definitely.
22:01
Speaker 3: And especially in this neighborhood.
22:03
Speaker 2: Okay, you made improvements, You made improvements to the home,
22:06
Speaker 2: and he said that the home was devalued by fifteen thousand.
22:10
Speaker 3: Uh, fifteen thousand.
22:11
Speaker 2: Yeah.
22:12
Speaker 4: So like when you look at that, it's like, oh wait,
22:14
Speaker 4: that's kind of crazy. But then you look at the
22:16
Speaker 4: comparables because that's part of the appraisal process too.
22:20
Speaker 3: So I looked at the comparables. Earners, what's up.
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25:11
Speaker 4: Sponsored by the United States Department of Homeland Security six hundred,
25:14
Speaker 4: six hundred and fifty six hundred eighteen. We had an
25:18
Speaker 4: offer on the table, like my brother was going to
25:21
Speaker 4: sell the house before I stepped in, and the offer
25:23
Speaker 4: was for six hundred, six hundred thousand, and you got
25:26
Speaker 4: to praise that fifty five hundred and ten thousand.
25:30
Speaker 2: And what do your neighbors look like?
25:34
Speaker 3: My neighbors are from a.
25:36
Speaker 2: Different ethnic background, ethnic back.
25:39
Speaker 4: We have Hispanic neighbors, we have white neighbors. We have
25:44
Speaker 4: a few black neighbors down the street.
25:46
Speaker 2: The majority of people in your neighborhood, what are they are? White?
25:49
Speaker 2: Majority of them? Okay, yeah, So the comparables in the
25:53
Speaker 2: neighborhood is six hundred thousand.
25:54
Speaker 3: Six hundred plus at least. So the deal was time sensitive.
25:59
Speaker 4: So not only did I was like blown away by
26:02
Speaker 4: the number that came back, I knew that we had
26:05
Speaker 4: to react fast because there was a lot of dominoes
26:08
Speaker 4: that were gonna fall if we didn't get this done.
26:10
Speaker 4: So he came in and gave us a five hundred
26:12
Speaker 4: and ten thousand appraisal.
26:13
Speaker 3: But on top of it.
26:14
Speaker 4: I had to pay him eight hundred dollars to him
26:16
Speaker 4: to do that, so like, not only was it in
26:19
Speaker 4: justice in a disservice, but I had to pay him
26:21
Speaker 4: out of my pocket to say thank you. He came in,
26:23
Speaker 4: he was here for maybe ten minutes and left and
26:28
Speaker 4: that was the last time I saw him until I
26:31
Speaker 4: had to, you know, get in contact with him, like
26:32
Speaker 4: how did this happen? And you know, his explanation was
26:37
Speaker 4: pretty much, you don't have the size of a backyard
26:39
Speaker 4: as the comparables. So I was like, no, this isn't
26:42
Speaker 4: this is impossible. I literal drove around the neighborhood to
26:44
Speaker 4: the comparables. I'm like, no, this is no way, no way.
26:47
Speaker 4: And being that the process of getting the house was
26:51
Speaker 4: time sensitive, I just had to say, you know what,
26:54
Speaker 4: I'm just gonna have to take this one and then
26:56
Speaker 4: we'll deal with this at a later time. My mortgage
26:57
Speaker 4: broker at the time was like, you know, I don't
26:59
Speaker 4: believe this. This is crazy, but at a certain extent,
27:02
Speaker 4: you're at the bank's mercy, right, Like they're the one
27:05
Speaker 4: that's approven you for the loan. They send their appraisal,
27:08
Speaker 4: the person that do the appraisal, So it's like, what
27:09
Speaker 4: do you do?
27:10
Speaker 2: So at that point in time, he took ninety thousand
27:13
Speaker 2: off the table, oh wealth right from your family pretty much? Yeah,
27:18
Speaker 2: just his opinion. Yeah.
27:19
Speaker 3: And that's the thing.
27:21
Speaker 4: It's like a lot of people don't get to this
27:23
Speaker 4: level to even see this type of discrimination, right because
27:26
Speaker 4: how many people are in the position to even get
27:28
Speaker 4: a home, you know what I mean. And it's like
27:32
Speaker 4: I can tell this story, but it's like, who else
27:34
Speaker 4: can relate to this? Because, like I said, when you
27:36
Speaker 4: wrote it, I was like, wait, you're writing my story
27:38
Speaker 4: and you're like no, this is happening everywhere. And I'm like, oh, oh,
27:41
Speaker 4: now I have to take action. So I have taken
27:44
Speaker 4: some actions, and it's still.
27:45
Speaker 2: You know what's crazy. Somebody said on my Instagram that
27:49
Speaker 2: she told the story. I don't know if for sure
27:50
Speaker 2: or not, but I'm gonna give her the benefit down
27:51
Speaker 2: say it's true. So she said that she had a
27:53
Speaker 2: home of praise three times and each time, let's say
27:57
Speaker 2: it was three hundred thousands roughly, I forget the number. Well,
28:01
Speaker 2: let's say three hundred thousand. It was like solid three
28:03
Speaker 2: hundred thousand, three times in a row. Yeah, she had
28:05
Speaker 2: her white neighbor come for the fourth appraisal. She took
28:09
Speaker 2: down all the pictures and the white neighbor answered the door.
28:12
Speaker 2: Long story short, the praiser thought that it was a
28:13
Speaker 2: white neighbor's home. You know how much it was a
28:15
Speaker 2: praise for four hundred I think like four to ten
28:20
Speaker 2: one hundred and ten thousand dollars more, just on an
28:22
Speaker 2: opinion because he saw a white person. Yeah, it happens.
28:27
Speaker 4: Look, I'm like, we're literally I lived it and I'm
28:30
Speaker 4: still living in it, and it's like wow, And I
28:32
Speaker 4: try to get that message out like yo, this is happening.
28:34
Speaker 4: But like I said, like who can relate to it?
28:36
Speaker 4: Like a lot of my peers are, you know, are
28:39
Speaker 4: renting and they're not in the process.
28:41
Speaker 3: Of owning a home yet and they will be.
28:43
Speaker 4: But it's like, oh, this is how how is this possible?
28:46
Speaker 4: So like what would be the answer to eliminate that?
28:50
Speaker 4: Like you know what I mean, Like we have to
28:51
Speaker 4: get our own independent appraiser. Yeah, but that independent appraiser
28:55
Speaker 4: doesn't necessarily work for the bengk who's giving you the loan,
28:58
Speaker 4: So it's like what do you do?
29:01
Speaker 2: Yeah, it was an interesting this discussion on my Instagram
29:03
Speaker 2: page because then some appraisers came in. It was actually
29:05
Speaker 2: hoping to get somebody in the praiser to come in
29:07
Speaker 2: as a guest, but we wasn't able to. But uh yeah, yeah,
29:11
Speaker 2: it's a I don't know, it's an unfortunate situation that
29:15
Speaker 2: it's just stuff like that people don't even aren't really
29:17
Speaker 2: even thinking about, right, like you hit about like the
29:18
Speaker 2: hardcore racism stuff, but little stuff like that that's real wealth.
29:22
Speaker 2: That's so your ninety so your situation was ninety thousand dollars, right,
29:26
Speaker 2: so now you can see how a hundred when you
29:27
Speaker 2: hear about one hundred and fifty six billion, like that's
29:29
Speaker 2: a large number, but how many people are like you,
29:32
Speaker 2: ninety thousand here, one hundred thousand here, thirty thousands? Ye up, yeah,
29:37
Speaker 2: that's all right. And like you said, like that's part
29:39
Speaker 2: of that generational wealth. And that's not even a black neighborhood.
29:42
Speaker 4: Right right, It just was that, Hey, they saw the
29:45
Speaker 4: family that was here, and this is what we're saying
29:48
Speaker 4: it is, and take it or leave it. And if
29:51
Speaker 4: you leave it, then you're not going to get this
29:52
Speaker 4: own because we're not approving you for.
29:54
Speaker 2: This one m yep, well yeah is ricked all right,
30:02
Speaker 2: boys and girls. So now is my favorite part of
30:06
Speaker 2: the show. Storytime. Here's a little story that must be
30:10
Speaker 2: So listen up, gangsters and honeys with your head done
30:13
Speaker 2: the best story tell us stuff now, right, UNA say,
30:15
Speaker 2: if pray out it's gray down, it's great up. All right.
30:17
Speaker 4: So this, this story actually starts as a lesson plan.
30:21
Speaker 4: And one of the things we do in the summer
30:23
Speaker 4: is teach financial literacy. And I was listening to Reasonable
30:27
Speaker 4: Doubt that President's tool was on and I heard the
30:30
Speaker 4: line all black Scott is sports and entertainment until we
30:33
Speaker 4: even and it just stuck with me, and I was like,
30:35
Speaker 4: damn is this like Jay right?
30:38
Speaker 3: Like is he right when he says that? Like what
30:39
Speaker 3: does that even mean?
30:41
Speaker 4: And I started thinking about success and what images we
30:45
Speaker 4: think of when we think of success, and over and
30:47
Speaker 4: over I kept saying, Wow, yeah, entertainment, damn, yep, sports.
30:52
Speaker 2: Okay.
30:52
Speaker 4: So when we sat down with our kids, I came
30:56
Speaker 4: up with this idea that you know what, give them
30:58
Speaker 4: eight pictures of celebrities, and lo and behold, they could
31:03
Speaker 4: name all eight, all eight. They were eight for eight
31:06
Speaker 4: and the celebrities I believe with doctor dre Jay z Beyonce,
31:10
Speaker 4: Floyd Mayweather.
31:11
Speaker 3: Was on there, Puff was on there. It was like,
31:13
Speaker 3: all right, well they know all of those.
31:15
Speaker 4: And then I gave him another sheet with eight pictures
31:17
Speaker 4: and I asked him to name them, and they got
31:21
Speaker 4: one out of the eight and the one person was
31:23
Speaker 4: Oprah Winfree and I told them that the interesting thing
31:27
Speaker 4: is that you recognized that every celebrity, but you only
31:31
Speaker 4: knew one of the wealthiest people of color in the world.
31:36
Speaker 3: And their minds were blown. And I was like, well,
31:40
Speaker 3: this is.
31:41
Speaker 4: Why, right, because all we've been we see is sports
31:44
Speaker 4: and entertainment. So we went to the number one person,
31:47
Speaker 4: the wealthiest black person or person of color in the
31:49
Speaker 4: entire world, well black person not even personal African descent,
31:53
Speaker 4: and we came to the name Aliko then goatee, Aliko
31:58
Speaker 4: dan Goti. He's actually from Nigeria and it's networth this year,
32:03
Speaker 4: well in twenty eighteen was ten point seven billion.
32:09
Speaker 2: Yeah, so Aliko Dane Gote. We wanted to cover him
32:13
Speaker 2: for a few different reasons, but shout out to Africa.
32:16
Speaker 2: We have a lot of listeners in Africa and the
32:19
Speaker 2: UK and all over and you know, Obviously we live
32:22
Speaker 2: in America, so most of our stories are based off
32:25
Speaker 2: of Americans. But we're we're bigger than's just America. Right,
32:29
Speaker 2: you know, the world, as I always say, the world
32:31
Speaker 2: is flat, So we want to show up to every
32:33
Speaker 2: part of the world and to give inspiration to every
32:35
Speaker 2: part of the world as well. Right. So, as you said,
32:37
Speaker 2: the richest black person in the world, African descent, whatever
32:39
Speaker 2: you want to call it, is from Nigeria. Right, He's
32:43
Speaker 2: worth ten billion dollars. So we're going to tell his story,
32:45
Speaker 2: so because I'm pretty sure that most people aren't familiar
32:48
Speaker 2: with him.
32:48
Speaker 4: Yeah, I mean, every time I've brought him up in conversation,
32:51
Speaker 4: people will say who is that? And it's it's ironic,
32:54
Speaker 4: Like we know who Floyd made Weather is, and we
32:56
Speaker 4: know who Jay Z and I mean, they've had huge
32:59
Speaker 4: amount of sys but those three people, they're not worth
33:03
Speaker 4: doesn't even add up to.
33:04
Speaker 2: His No, it's not even closed. So all right, So Aliko,
33:07
Speaker 2: he he comes from Nigeria, right, and he uh, he
33:11
Speaker 2: starts in twenty one in the concrete business. So he
33:16
Speaker 2: comes from a wealthy family already nowhere near where he
33:19
Speaker 2: is now, but he comes from a wealthy family. So
33:22
Speaker 2: that's no, that's another thing too. We have to keep
33:23
Speaker 2: in mind because even with the whole thing with Coylie
33:25
Speaker 2: Jenner as far as what self made, that's that was
33:27
Speaker 2: big on the page. And we have to keep in
33:29
Speaker 2: mind that there are black wealthy people, right.
33:33
Speaker 4: Like his grandfather was wealthy, the wealthiest person in West Africage.
33:37
Speaker 2: Yeah, so and there's nothing wrong with we have to
33:41
Speaker 2: get out of that mind like, there's nothing to be
33:43
Speaker 2: embarrassed about if your if your family has money. But
33:45
Speaker 2: that's what we should strive to do to actually leave
33:47
Speaker 2: a legacy for our kids. And it's like we almost
33:50
Speaker 2: like are embarrassed if if we have any leg up.
33:55
Speaker 2: I mean like it's it's kind of backwards way of thinking.
33:57
Speaker 2: But so, yeah, he comes from a wealthy family, but
34:01
Speaker 2: nowhere near where he is now. So at twenty one,
34:03
Speaker 2: he starts a concrete business, right and from there it's
34:08
Speaker 2: a five thousand dollars loone that he got from his
34:10
Speaker 2: uncle to start the business. From there, he parlayed that
34:14
Speaker 2: into pretty much everything in Nigeria, agriculture, food, telecommunications.
34:21
Speaker 3: Banking, petroleum banking, petroleum, sugar flowers.
34:24
Speaker 2: Sugar flower everything. He's guys, guy's hands and everything. Everything
34:28
Speaker 2: in the country is pretty much he's involved with in
34:31
Speaker 2: one way or the other. He's heavy in politics everything, right,
34:34
Speaker 2: So what he's doing now is that he is taking
34:38
Speaker 2: a major risk. But that's what business is about, right.
34:42
Speaker 2: He's taking a major risk and building a twelve billion
34:46
Speaker 2: dollar petroleum refinery, yes, right in Nigeria.
34:51
Speaker 4: So just a quick couple things about Nigeria. Nigeria is
34:56
Speaker 4: Africa's largest oil producer, so that's just the first thing. Now,
34:59
Speaker 4: they have the control of i think the tenth largest
35:02
Speaker 4: oil reserves in the country.
35:04
Speaker 3: Oh and I'm sorry in the.
35:05
Speaker 4: World, in the world, but they don't take their resource,
35:09
Speaker 4: not their resources, but they don't have refineries that are
35:12
Speaker 4: efficient enough to get it throughout the entire time.
35:14
Speaker 2: Yeah. So the thing about Nigeria is that they have
35:16
Speaker 2: the tenth largest oil reserve, like you said, in the world,
35:20
Speaker 2: but they only have four state run refineries and those
35:24
Speaker 2: are old. So what happens is that they have to
35:27
Speaker 2: import most of their petroleum, which makes no sense, right
35:31
Speaker 2: because you have so much petroleum in your backyard literally,
35:35
Speaker 2: but you have to import it because you don't have
35:37
Speaker 2: the infrastructure actually produce it. Yourself. So that's his thing.
35:40
Speaker 2: His thing is like why do we why don't we
35:42
Speaker 2: have to bring in all of this stuff from the
35:43
Speaker 2: Middle East and all these other different countries when we
35:46
Speaker 2: have it right here. So he's building a twelve billion
35:49
Speaker 2: dollar refinery and what that will do is make it well,
35:54
Speaker 2: a is going to be the largest petroleum refinery.
35:57
Speaker 3: In the world.
35:57
Speaker 2: Yeah, in the world.
35:58
Speaker 4: I literally he went out and this is built on wasteland.
36:01
Speaker 4: So he I mean again, his business helps with this process,
36:06
Speaker 4: right because he has the concrete, and he has the
36:09
Speaker 4: trucks and he has all these things that help build it.
36:11
Speaker 4: So he's building it right now. I believe it's off
36:14
Speaker 4: the south coast of Nigeria. But yeah, like let's build
36:17
Speaker 4: this refinery because there's no point of us important anymore.
36:21
Speaker 2: Right, So that's going to take if all goes well.
36:24
Speaker 2: So right now, his company made four billion dollars in revenue. Shit,
36:28
Speaker 2: if all goes well, that's going to take it from
36:30
Speaker 2: his company from four billion to thirty billion. Yeah.
36:33
Speaker 4: So the key part about that is that sixty percent
36:36
Speaker 4: of Nigeria, right is not they're not connected to the
36:39
Speaker 4: power grid sixty percent. And when the people who are
36:43
Speaker 4: they have like four hours of power at a time.
36:45
Speaker 4: So there's like long history of blackouts in the country.
36:48
Speaker 4: So he has a chance to provide electricity now to
36:51
Speaker 4: an entire country.
36:52
Speaker 2: Yeah, well, yes, he has a chance to change the
36:54
Speaker 2: course of Nigeria forever, forever and also change the court
36:57
Speaker 2: of Africa as well, the entire continent, right exactly, So
37:01
Speaker 2: what he's doing is more than just money, right, he
37:04
Speaker 2: has actual chance to really leave a legacy forever when
37:09
Speaker 2: it comes to Africa. And then of course money plays
37:11
Speaker 2: a part as well. As I said, it takes his
37:13
Speaker 2: company from four billion to thirty billions, So now he's
37:16
Speaker 2: a billionaire. Now. I think he was like number on
37:17
Speaker 2: hundred on the.
37:18
Speaker 4: List, yeah he I think his highest rank on the
37:21
Speaker 4: list was like twenty five. He was up to like
37:23
Speaker 4: twenty twenty five billion.
37:24
Speaker 2: Yeah, a couple of things, but this does now, this
37:27
Speaker 2: puts him in like the top twenty. Now now he's
37:29
Speaker 2: in there with Bloomberg and guys like that. Right, So
37:33
Speaker 2: that changed the trajectory of wealth as well. But as
37:36
Speaker 2: I said, more importantly, like you said, sixty percent of
37:38
Speaker 2: the country doesn't have electricity. They're the tenth largest oil
37:42
Speaker 2: producing country, but they have to import all their oil,
37:45
Speaker 2: so it makes himself reliant. They can keep all their
37:49
Speaker 2: resources at home now, and it sets a trend for
37:53
Speaker 2: West Africa and the whole Sub Saharan Africa as a whole, right,
37:57
Speaker 2: because we all know that Africa is the richest continent
38:01
Speaker 2: as far as minerals and what's in the earth, but
38:05
Speaker 2: unfortunately it's the poorest continent economically, right, So hopefully this
38:09
Speaker 2: will be a trend that countries can follow in businessmen
38:13
Speaker 2: in the countries can follow where now the wealth is
38:16
Speaker 2: actually kept in Africa and they're producing for themselves and
38:19
Speaker 2: they're keeping it for themselves, right, So there's two sides
38:21
Speaker 2: to every story, right. So a lot of people aren't
38:25
Speaker 2: big fans of his because they said that, you know,
38:28
Speaker 2: he has a lot of money offshore and some shaky
38:32
Speaker 2: business practices, pays on the politicians.
38:38
Speaker 4: So his wealth, right, and when we look at our
38:40
Speaker 4: country and we think of the wealthiest people in the world,
38:44
Speaker 4: and we know that one percent of the population has
38:47
Speaker 4: more money than ninety nine percent, so his statistic is
38:50
Speaker 4: even larger because yes, I think fifty percent of the
38:53
Speaker 4: country does live in poverty. And you have now a
38:55
Speaker 4: man who's in the top one hundred wealthiest people in
38:57
Speaker 4: the world. So the disparacy is even greatest people are
39:00
Speaker 4: looking at that, Like.
39:01
Speaker 2: But that's not just his I mean, look at Carlos
39:03
Speaker 2: Slim right in Mexico.
39:04
Speaker 3: Another person.
39:05
Speaker 2: I look at his billion of billionaires in India or
39:08
Speaker 2: even America, right, so that's all over the world. Yeah,
39:12
Speaker 2: But like I said this, you know, there's there's some
39:14
Speaker 2: some rumors that you know, he's done some things, which
39:17
Speaker 2: I mean most business people have on a certain level. Right,
39:20
Speaker 2: But then he also has a charity where he's donated
39:22
Speaker 2: one point two billion dollars of his own wealth.
39:24
Speaker 3: Yeah, I believe him and Bill Gates or doing.
39:26
Speaker 2: He's doing somethuff with Bill Gates. Well, but then he
39:28
Speaker 2: also built two hundred homes for poor people.
39:31
Speaker 4: Yeah, so he and he said his favorite so he
39:34
Speaker 4: for the first twenty years of business, so he started
39:37
Speaker 4: his company, I believe in nineteen seventy seven, first twenty
39:39
Speaker 4: years of business, refused to travel, did not travel at all.
39:43
Speaker 2: Yeah, that's no vacation. So that's because that goes back
39:45
Speaker 2: to the college everything, right, where I say, Okay, you
39:47
Speaker 2: start with money. Obviously, if you start with money, you
39:49
Speaker 2: have a leg up. It's obvious, right, but you still
39:52
Speaker 2: have to work the money to make it more money.
39:54
Speaker 2: So the guy didn't take a vacation for twenty years.
39:56
Speaker 2: Twenty years now he took vacation now, But for the
40:00
Speaker 2: first twenty years in business, he didn't take a vacation.
40:02
Speaker 4: It's ratio now is for every two weeks he works,
40:03
Speaker 4: he takes a vacation. I gotta get we have to
40:06
Speaker 4: get to that r Yeah. I mean, that's an amazing.
40:08
Speaker 2: It's like how many people take vacations just because it
40:13
Speaker 2: shouldn't be. It can't afford it.
40:15
Speaker 3: Right, You you have no money and you're still taking
40:18
Speaker 3: vacations just for the hell of it.
40:19
Speaker 2: You're going to Miami just just cause it's funny.
40:21
Speaker 3: You said Miami. Because when he said the two favorite places.
40:23
Speaker 2: Of traveling Atlanta in Miami, Atlanta at Miami, that's pretty random.
40:27
Speaker 2: I'ma be honest with you. If I'm one of the
40:30
Speaker 2: richest people in the world, I love Miami. I love
40:32
Speaker 2: Atlanta too, those would not be my two top travel desers.
40:36
Speaker 3: Well, where you're coming from, though you're coming from New York.
40:38
Speaker 2: It doesn't no matter where I'm coming from.
40:40
Speaker 3: Somebody who's in Nigeria.
40:41
Speaker 4: That may look at that as like that's a tourist destination,
40:44
Speaker 4: and we do it like pretty regularly.
40:49
Speaker 2: Atlanta shot to Miami too. It's just a little random
40:54
Speaker 2: for me, that's all. But yeah, those are his two favorite.
40:57
Speaker 2: He actually owns a lot of property in Atlanta.
40:59
Speaker 4: Yeah, he I think he had a residency out there,
41:03
Speaker 4: but now I think he's staying at some like luxurious
41:06
Speaker 4: like resort there.
41:07
Speaker 2: Now, yeah, I mean theig gout, he's bailing out of control.
41:10
Speaker 2: But the thing about it also is that so this
41:12
Speaker 2: flip sides to every coin, right, So some people say
41:14
Speaker 2: it's a bad guy, some people say it's a good guy.
41:17
Speaker 2: I learned that life is complicated, right, So when I
41:21
Speaker 2: was in Colombia, I went to Columbia Attle while ago.
41:23
Speaker 2: And obviously when you think of Columbia, who do you
41:27
Speaker 2: think of It's a legend. So everybody knows story. I
41:34
Speaker 2: don't have to tell a story. Half of the country
41:36
Speaker 2: hates him, despises him, and half of the country loves him. Right,
41:40
Speaker 2: So depending on who you talk to, you're gonna get
41:42
Speaker 2: a different story. So if you talk to some of
41:46
Speaker 2: the people that he might be responsible for killing, and
41:48
Speaker 2: you know, ruining lives and all his things. Then they
41:51
Speaker 2: would tell you that he's the devil, he's the worst
41:53
Speaker 2: person in the world. But then I went to a community.
41:55
Speaker 2: I forget what it's called, but it's Pablo Eskebar community
41:58
Speaker 2: where he built I think, like three homes for poor people, right,
42:02
Speaker 2: And he built the whole community. He built the hospital,
42:04
Speaker 2: he built homes, restaurants, grocery stores, He literally built the
42:09
Speaker 2: community for poor people and everybody lived rent free, everybody
42:12
Speaker 2: had a home. They got murals of them on the wall.
42:15
Speaker 2: To this day, they still got murals of them, like
42:18
Speaker 2: he's he's a saint. Right. So life is complicated, right,
42:22
Speaker 2: And depending on who you ask opinion, you're going to
42:26
Speaker 2: get a clearly different answer.
42:27
Speaker 4: So there was some negative press where people had lived
42:31
Speaker 4: near the land and he came in, he cleared off
42:34
Speaker 4: so that's it didn't provide homes or anything.
42:37
Speaker 2: So they said he cleared off the land to make wrong.
42:40
Speaker 2: But then he built two hundred homes for poor people.
42:43
Speaker 2: So it's like and.
42:44
Speaker 4: His thing is like he doesn't even want to be
42:45
Speaker 4: remembered as the wealthiest person of African descent. He'd rather
42:48
Speaker 4: be known as a philanthropist and that's honorable, Like he
42:51
Speaker 4: just wants to be the person that has given back,
42:53
Speaker 4: and he has a chance to like what we said,
42:56
Speaker 4: if you think about it, like his country relies on imports,
42:59
Speaker 4: he has a chance to reverse their entire trajectory and
43:03
Speaker 4: be a country that is pretty much making their revenue
43:07
Speaker 4: from exporting their resources.
43:09
Speaker 2: So that's I mean, now that's a good story. And
43:11
Speaker 2: then also it's just you know, we like to highlight
43:16
Speaker 2: business people and we want to give people inspiration and
43:20
Speaker 2: hope and just just different figures. Right, Like we all
43:23
Speaker 2: know who Warren Buffett is. We know who Bill Gates is,
43:25
Speaker 2: so why should we not know who he is?
43:28
Speaker 4: I doubt and I mean I work in schools. This
43:31
Speaker 4: is his name is never being brought up.
43:34
Speaker 2: But there's a bunch of people. We got Robert Smith,
43:36
Speaker 2: who's the richest Black American. He's a millionaire and a
43:40
Speaker 2: lot of people don't know he.
43:41
Speaker 3: They have, well Rob Johnson before him, and he wasn't
43:43
Speaker 3: brought up.
43:44
Speaker 2: But even Rob Johnson he's still in sports entertainment on
43:46
Speaker 2: a certain level, but Robert Smith is in private equity.
43:48
Speaker 2: So we're going to try to highlight different people from
43:52
Speaker 2: different walks of life. But business in particular, because I
43:56
Speaker 2: think it's important for people to see these people and
44:00
Speaker 2: to just know about them. You don't have to be
44:02
Speaker 2: a fan of them or not, but at least you
44:03
Speaker 2: should be aware of it.
44:04
Speaker 4: The power of presence and the power of perception. It's like,
44:07
Speaker 4: at least I've seen somebody who can do that's doing this.
44:10
Speaker 4: It's powerful. If we've never seen that, like, then we
44:13
Speaker 4: may expire to be an athlete or somebody entertainment. It's like,
44:18
Speaker 4: oh wait, there's somebody doing something else in this avenue.
44:21
Speaker 4: Oh I can do this too, right, So the power
44:23
Speaker 4: of just seeing yourself and somebody successful, you can't measure.
44:29
Speaker 2: It now, you can't. And once again, shout out to Africa,
44:33
Speaker 2: South Africa, to Nigeria, Ghana, Ethiopia, Somalia, all that, Egypt.
44:41
Speaker 2: We're going to go to Africa very soon, I have. Unfortunately,
44:44
Speaker 2: I have not been to Africa yet. I've been a
44:48
Speaker 2: lot of different places, but I have not been to Africa.
44:50
Speaker 2: So that's on my to do list. I'm looking forward
44:53
Speaker 2: to it. I'm very excited and yeah, we're gonna get
44:56
Speaker 2: out there for sure.
44:57
Speaker 3: Absolutely.
44:58
Speaker 2: All right, guys, Well again, thank you for rocking with
45:01
Speaker 2: us and do not forget to subscribe to our YouTube,
45:04
Speaker 2: check our website out, check our merch out, check Patreon out,
45:07
Speaker 2: and yeah once again, just just also send you send
45:11
Speaker 2: requests too, because what we want to start doing is
45:13
Speaker 2: featuring maybe like a small businesses too that have success stories.
45:17
Speaker 2: Cause we talk about your big companies, we're gonna talk
45:18
Speaker 2: about small businesses as well. So dm us if you know,
45:22
Speaker 2: if you have a good small business story, or if
45:26
Speaker 2: you know somebody has a small business story, if you
45:27
Speaker 2: could just d dm us a quick paragraph, nothing too crazy,
45:30
Speaker 2: because we got to read it and we'll try to
45:32
Speaker 2: feature that as well. And then also we got requests
45:36
Speaker 2: for books book club, so I'm just going and just
45:40
Speaker 2: each episode I'll say a book that I'm reading. So
45:43
Speaker 2: right now, I'm currently reading a book called The Big
45:45
Speaker 2: Short and it's about the subprime mortgage crisis in two
45:49
Speaker 2: thousand and eight. Very interesting book if you're into that.
45:52
Speaker 2: They have a movie about it actually as well. Steve
45:54
Speaker 2: Carrell's in it is excellent movie and it just talks
45:56
Speaker 2: about the financial system and how broken the financial system is,
45:59
Speaker 2: how corrupt the financials amazing. It's dope, trust me, it's dope.
46:02
Speaker 2: So Yeah, that's my that's my book. Tip of the week.
46:06
Speaker 2: All right, all right, peace.
46:36
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