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Professional Development: The Four-Day Workweek & The Future for American Workers · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: Amazon start let's start here before we get to the
• 1:03
  Speaker 3: bank situation. Amazon to layoff nine thousand more workers, which
• 1:10
  Speaker 3: brings the total to twenty seven thousand people. How do
• 1:15
  Speaker 3: we feel about this? What does this say about the economy?
• 1:18
  Speaker 3: What does it say about the tech sector? What does
• 1:21
  Speaker 3: it say?
• 1:24
  Speaker 4: I'll just say the first thing, and it goes back
• 1:26
  Speaker 4: to when we talked about it in December when they
• 1:29
  Speaker 4: laid off eighteen thousand people and we saw a Meta
• 1:31
  Speaker 4: do it and we were not eighteen thousand, but we
• 1:33
  Speaker 4: saw them do eleven. And we saw Google, we saw
• 1:34
  Speaker 4: a microphone Microsoft do it. There was a These are
• 1:39
  Speaker 4: the effects of the pandemic. Right when we talk about
• 1:41
  Speaker 4: a lot of the tech companies, how were they going
• 1:44
  Speaker 4: to respond to the overwhelming demand on their product?
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  Speaker 2: Well, the response was to hire more people.
• 1:50
  Speaker 4: When people have changed the way that they go about business,
• 1:53
  Speaker 4: the way they go about lifestyle, the way they go
• 1:54
  Speaker 4: about spending, there's going to be.
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  Speaker 2: A changing your business.
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  Speaker 4: And the change just happened to be, you know, especially
• 2:01
  Speaker 4: for Amazon, that people are going back outside in their shopping.
• 2:03
  Speaker 4: People still use Amazon, but there's an alternative to how
• 2:06
  Speaker 4: they once were only shopping.
• 2:08
  Speaker 2: And so this is I've looked up to statistics. This
• 2:11
  Speaker 2: is pretty interesting.
• 2:13
  Speaker 4: Between Q four twenty nineteen and Q three twenty twenty two,
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  Speaker 4: their head count increased by ninety three percent.
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  Speaker 2: Ninety three percent, Yeah, that's.
• 2:25
  Speaker 4: Nearly almost one hundred percent more people worked during that
• 2:28
  Speaker 4: time than they originally planned. So, right, even if you
• 2:31
  Speaker 4: were creating a hiring board in twenty nineteen going to
• 2:35
  Speaker 4: twenty twenty, you could have never imagined that this would
• 2:37
  Speaker 4: be the increase of hires. And so what comes on
• 2:40
  Speaker 4: the inverse of that when there needs to be cutbacks
• 2:42
  Speaker 4: some people are going to lose their jobs is unfortunate.
• 2:45
  Speaker 2: The count is like twenty seven thousand, So this round.
• 2:48
  Speaker 4: Of cuts is expected to impact the cloud computing, advertising,
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  Speaker 4: human resources, and twitch units, so a lot of gaming, a.
• 2:55
  Speaker 2: Lot of again cloud computing.
• 2:57
  Speaker 4: It's unfortunate, right because these twenty seven thousand, and I
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  Speaker 4: know it feels like it's a number, but these are
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  Speaker 4: actually people, and these people have families, and these people
• 3:04
  Speaker 4: have bills, and it's unfortunate. But this is part of
• 3:07
  Speaker 4: the economy, right, This is what comes with gross over hiring.
• 3:11
  Speaker 4: There are going to be layouts and cutbacks, and so
• 3:14
  Speaker 4: again it's unfortunate. But I don't think this is the end, right,
• 3:19
  Speaker 4: because we're still we're still trying to figure out and
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  Speaker 4: especially a lot of these companies in tech are trying
• 3:24
  Speaker 4: to figure out what is the right medium.
• 3:26
  Speaker 2: You don't want to underhire. But what comes to that.
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  Speaker 4: I know that you stress this a lot is that
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  Speaker 4: we have to figure out how we can get more
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  Speaker 4: with less people.
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  Speaker 5: And I think this is this is a prome case
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  Speaker 5: of it. A couple of interesting things. Like you said,
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  Speaker 5: this isn't going to be the last cut. Number one,
• 3:43
  Speaker 5: so they're layering because the company can't effectively lay off
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  Speaker 5: fifty thousand people in one week, one quarter, one day.
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  Speaker 5: That's in shock waves throughout the market. Number two is
• 3:54
  Speaker 5: the transition into a new CEO. There's some dramatic changes
• 3:57
  Speaker 5: that have to be made. If you look the stock
• 3:59
  Speaker 5: at one point, was that one eighty eight sixty five
• 4:02
  Speaker 5: came down to eighty four oh two, which pretty much
• 4:06
  Speaker 5: cut the value of the stock in half.
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  Speaker 2: Therefore, you have to make some adjustments. Number three. I
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  Speaker 2: don't like this for the workforce.
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  Speaker 5: I was doing some analysis earlier, and without quantitative easing
• 4:21
  Speaker 5: in twenty eight through twenty twenty, the supply of money
• 4:25
  Speaker 5: that came in in twenty twenty and the bailoffs that
• 4:28
  Speaker 5: we will talk about tonight, we have effectively been in
• 4:32
  Speaker 5: a recessive market since twenty nineteen. We're in twenty twenty
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  Speaker 5: three right now. So what we're saying, as we're seeing
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  Speaker 5: the hiring freeze, Meta's done the same thing, and they're
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  Speaker 5: also no longer going to be hiring five thousand more
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  Speaker 5: jobs that they plan to. These companies have to cut
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  Speaker 5: back and they're also having to find ways to be
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  Speaker 5: more efficient in real time. Sadly enough, cutting these jobs
• 4:55
  Speaker 5: will allow the stock to go back up. But even
• 4:57
  Speaker 5: when I was talking to my brother yesterday, he was saying,
• 4:59
  Speaker 5: you know, you used to be able to find some
• 5:00
  Speaker 5: great deals on Amazon, but because of inflation, you are
• 5:03
  Speaker 5: not finding as many. Amazon is one of the top
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  Speaker 5: picks in the Red Panther stock club. It's been hovering
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  Speaker 5: around like ninety three to ninety seven for a while.
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  Speaker 5: Maybe about another eight to thirteen months it should get
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  Speaker 5: back to like one forty one eleven. But they need
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  Speaker 5: to cut to more jobs, and then on the management side,
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  Speaker 5: they need to do a hell of a lot better
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  Speaker 5: job of being more efficient and getting their cost spaces
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  Speaker 5: up in terms of net income in that revenue.
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  Speaker 2: So this is sad because.
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  Speaker 5: This is not going to be the last of it,
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  Speaker 5: and this is why they're pushing AI at every angle
• 5:35
  Speaker 5: that they can GBT four was released. Microsoft not has
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  Speaker 5: their version, but we're just seeing we're probably only like
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  Speaker 5: in the middle of these job cuts for tech overall.
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  Speaker 3: So what does this say about Amazon as far as
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  Speaker 3: investing in the company, as far as their stock is concerned.
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  Speaker 3: You know, as Amazon has been a company that you know,
• 5:55
  Speaker 3: we've talked about a lot as far as you know,
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  Speaker 3: a good investment long term, is it still Is it
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  Speaker 3: still a good investment?
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  Speaker 2: Absolutely?
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  Speaker 5: I seventy five and below, but anything above that right
• 6:08
  Speaker 5: now is And also it goes to back to Besis leadership.
• 6:12
  Speaker 5: We cannot say with Lebron, like we're kind of taking
• 6:14
  Speaker 5: Lebron for granted, even though like he's in his last
• 6:16
  Speaker 5: two to three years. We took Besis for granted for
• 6:20
  Speaker 5: a long time and he's a great executive, but Bezos
• 6:23
  Speaker 5: was a superstar, rock star level CEO that over delivered.
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  Speaker 5: He may need to come back to that seat for
• 6:29
  Speaker 5: a couple of years to write to ship.
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  Speaker 4: Yeah, and I think you said it and most people
• 6:34
  Speaker 4: will like maybe be confused by it, but yeah, these
• 6:37
  Speaker 4: layouts will probably mean that the doctor is going to
• 6:39
  Speaker 4: go up. And we had this conversation last week when
• 6:41
  Speaker 4: we were talking about salesforce when it was like, all right,
• 6:43
  Speaker 4: we need to really figure out where our spending is
• 6:46
  Speaker 4: and how we're going to cut spending. And one of
• 6:49
  Speaker 4: those things that they do is lay off employees. And
• 6:51
  Speaker 4: so when they lay off employees and now they have
• 6:53
  Speaker 4: more money to make business more efficient, it's it's a
• 6:57
  Speaker 4: sad effect, but it's a real effect.
• 7:00
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• 7:01
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• 7:04
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  Speaker 4: National Association Member FDIC. Right of you know, cutting jobs,
• 8:54
  Speaker 4: you want to make more money?
• 8:55
  Speaker 3: Yeah, so you say you like you like it under
• 8:58
  Speaker 3: seventy five dollars correct correct? All right, Well, I think
• 9:02
  Speaker 3: it all also speaks to just making work more efficient,
• 9:08
  Speaker 3: and this can lead to a conversation. I don't know
• 9:10
  Speaker 3: if you guys seen it, but they've been pushing more
• 9:11
  Speaker 3: and more about this four day work week situation. More
• 9:16
  Speaker 3: and more companies are pushing towards that. And I had
• 9:20
  Speaker 3: a conversation to my barber. Shout out to Bubbs. I
• 9:23
  Speaker 3: was in the shop today and we was listening they
• 9:25
  Speaker 3: were talking about it on the radio. By the way,
• 9:28
  Speaker 3: appreciate that very important, very important. So this is my philosophy, right,
• 9:36
  Speaker 3: because he was asking me, like, do I think the
• 9:37
  Speaker 3: four day work week is a good idea? And I'm like,
• 9:39
  Speaker 3: I guess technically, but in our line of work, for instance,
• 9:43
  Speaker 3: it's an everyday work week, but it's done not traditionally.
• 9:48
  Speaker 3: So like the person that does our YouTube, right, his
• 9:51
  Speaker 3: name is Rich, shout out to him. I get up
• 9:54
  Speaker 3: in the morning and I'll give him like tasks for
• 9:57
  Speaker 3: the day. I try to do it before ten o'clock
• 9:59
  Speaker 3: and and he just has to do it at some
• 10:03
  Speaker 3: point in time, so he could potentially do it before
• 10:06
  Speaker 3: one o'clock, before twelve o'clock, anything, right, and then you're
• 10:10
  Speaker 3: done for today. But we need to post content every
• 10:14
  Speaker 3: single day, so that to me, that type of hybrid
• 10:19
  Speaker 3: approach is what we're going into right going into the
• 10:24
  Speaker 3: office and clocking it at nine o'clock and wasting time
• 10:27
  Speaker 3: and leaving at five point thirty. Like those days are over.
• 10:30
  Speaker 3: I feel like you have tasks that you have to
• 10:34
  Speaker 3: have to be completed. You can complete those tasks from anywhere.
• 10:38
  Speaker 3: You can do a zoom call if you need to
• 10:40
  Speaker 3: have a conference, or you can just call somebody if
• 10:43
  Speaker 3: you need to talk to somebody and don't need to
• 10:44
  Speaker 3: physically be there. So that cuts overhead as far as
• 10:49
  Speaker 3: and this goes back to the commercial real estate play.
• 10:51
  Speaker 3: That cuts overhead as far as office is concerned, but
• 10:54
  Speaker 3: it also cuts the amount of people that you need
• 10:56
  Speaker 3: as well, because you realize you don't really need that
• 10:59
  Speaker 3: many people. A lot of people are getting paid to
• 11:02
  Speaker 3: do nothing. So trim the fat extremely important. And not
• 11:06
  Speaker 3: to call people fat because we are sensitive that people
• 11:10
  Speaker 3: are getting laid off. Nobody wants to see anybody lose
• 11:13
  Speaker 3: their job. But I'm just saying as far as moving forward,
• 11:17
  Speaker 3: I feel like more and more companies will look to
• 11:20
  Speaker 3: see how you can get more efficiency from your employees.
• 11:25
  Speaker 3: And in my opinion, that's from the employees staying at
• 11:28
  Speaker 3: home having tasks that they have to be completed. It
• 11:31
  Speaker 3: doesn't matter when you can do the task at one
• 11:33
  Speaker 3: o'clock in the morning if you want, just do the task.
• 11:36
  Speaker 3: And that's the new working model in my opinion.
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  Speaker 5: And I'll chime in really quickly and tell a very
• 11:43
  Speaker 5: soft truth that most people need to hear the four
• 11:46
  Speaker 5: hour work week proposition that's being done and efficiency is
• 11:48
  Speaker 5: going to be slung around so they don't have to
• 11:51
  Speaker 5: give us full time benefits because they're not going to
• 11:53
  Speaker 5: have most people work. If you are at eight hours
• 11:55
  Speaker 5: a day, Hello Michael, and you're working for this, you're
• 12:00
  Speaker 5: going to be at thirty two hours, they don't have
• 12:03
  Speaker 5: to then give you full time. And I'm seeing this
• 12:05
  Speaker 5: happen with some people right now, like they'll put you
• 12:08
  Speaker 5: right up to like thirty eight and a half thirty
• 12:10
  Speaker 5: nine hours to avoid forty hours.
• 12:13
  Speaker 2: Plus and giving you four benefits.
• 12:16
  Speaker 5: So please be careful as they are pushing this initiative
• 12:19
  Speaker 5: of a four day week work week, that you don't
• 12:22
  Speaker 5: get caught in that trap of them trying to lower
• 12:24
  Speaker 5: your benefits or your pay and then subconsciously or subtly
• 12:28
  Speaker 5: in corporate forcing you to do more while giving you less.
• 12:34
  Speaker 3: Yeah, and you see in France that well you should
• 12:37
  Speaker 3: do you should get Well, well, what did you say,
• 12:40
  Speaker 3: you said, I'm about anyway, nodada, you said, I'm just
• 12:44
  Speaker 3: showing that.
• 12:45
  Speaker 2: I just want to declare what you said.
• 12:46
  Speaker 3: You said, be careful that they don't give you lessen
• 12:51
  Speaker 3: doing less for doing less.
• 12:53
  Speaker 2: You should get less. You should get less for doing less.
• 12:55
  Speaker 5: But what they're going to do because and the truth
• 12:57
  Speaker 5: is like they've ruined our economy. And then like notice,
• 13:00
  Speaker 5: whenever the banks collapse, which is a sign of a recession,
• 13:03
  Speaker 5: they have to bail our banks because mask consolidation is
• 13:06
  Speaker 5: an easy way to form a quiet monopoly. They always
• 13:09
  Speaker 5: end up blaming the people for destroying the economy.
• 13:14
  Speaker 2: It wasn't the workforce that caused.
• 13:16
  Speaker 5: The collapse of SVB or FTX or bitcoin imploding from
• 13:21
  Speaker 5: sixty down to twenty thousand, but we'll talk about bitcoin later.
• 13:25
  Speaker 5: It wasn't the consumers that did that. It was the
• 13:27
  Speaker 5: organizations and leadership that did that. But then, and always watch,
• 13:32
  Speaker 5: even in the SVB thing, they're going to start to
• 13:35
  Speaker 5: put some of this on black entrepreneurs and say that
• 13:38
  Speaker 5: they were giving risky loans and they didn't meet a
• 13:40
  Speaker 5: certain risk profile, which reminds me a lot of to
• 13:43
  Speaker 5: And for those of you who don't know, when the housing
• 13:46
  Speaker 5: market collapsed, it wasn't because blacks.
• 13:48
  Speaker 2: And Latin's got two and three houses.
• 13:51
  Speaker 5: That wasn't it. We didn't have any credit to false
• 13:55
  Speaker 5: swaps options on these investments.
• 13:58
  Speaker 2: Right.
• 13:58
  Speaker 5: It was hard enough for us to open up a
• 14:00
  Speaker 5: brokerage in two thousand and eight. But you want to
• 14:02
  Speaker 5: make me think that we imploded a global market. But
• 14:05
  Speaker 5: when they were putting exotic triangs together and selling them
• 14:08
  Speaker 5: off in Germany and Ukraine and Russia and traded them
• 14:12
  Speaker 5: lack option derivatives, the consumer always get blamed and we
• 14:16
  Speaker 5: always always get blamed, us on the black consumer side.
• 14:19
  Speaker 5: So yes, we want to make things more efficient, but
• 14:23
  Speaker 5: I also don't want us to take the blame for
• 14:24
  Speaker 5: this market falling apart when we did not cause that crash.
• 14:28
  Speaker 2: That's important. That's a fact.
• 14:31
  Speaker 3: My graduates from my school being forced back drop drop
• 14:37
  Speaker 3: Mike drop backdrop.
• 14:50
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 14:54
  Speaker 1: in Massachusetts. An MS thirteen gang member from El Salvador
• 14:58
  Speaker 1: accused of murdering a Texas of Venezuelan charged with filming
• 15:02
  Speaker 1: and selling child pornography in Michigan. These are just some
• 15:06
  Speaker 1: of the heinous migrant criminals caught because of President Donald J.
• 15:10
  Speaker 1: Trump's leadership. I'm Christy nom the United States Secretary of
• 15:14
  Speaker 1: Homeland Security. Under President Trump, attempted illegal border crossings are
• 15:19
  Speaker 1: at the lowest levels ever recorded, and over one hundred
• 15:22
  Speaker 1: thousand illegal aliens have been arrested. If you are here illegally,
• 15:27
  Speaker 1: your next you will be fine nearly one thousand dollars
• 15:30
  Speaker 1: a day, imprisoned and deported, you will never return. But
• 15:34
  Speaker 1: if you register using our CBP home app and leave now,
• 15:38
  Speaker 1: you could be allowed to return legally. Do what's right.
• 15:42
  Speaker 1: Leave now. Under President Trump, America's laws, border and families.
• 15:47
  Speaker 2: Will be protected. Sponsored by the United States Department of
• 15:49
  Speaker 2: Homeland Security.