Latest / The Joe Rogan Experience / #2509 - Caleb Hammer

Transcript

#2509 - Caleb Hammer · The Joe Rogan Experience

• 0:01
  Speaker 1: Joe Rogan Podcast. Check it out The Joe Rogan Experience,
• 0:06
  Speaker 1: Shrain by Day, Joe Rogan Podcast, by Night, all Day.
• 0:12
  Speaker 2: Thanks, Sorry, she's doing.
• 0:13
  Speaker 1: Nice to meet you, very nice to meet you too.
• 0:15
  Speaker 1: I enjoy your content.
• 0:16
  Speaker 2: Thank you.
• 0:17
  Speaker 1: Very sensible person. And you deal with a lot of
• 0:19
  Speaker 1: very unsensible people. How do you fucking keep your shit
• 0:23
  Speaker 1: together when you talk to these people? Your We tell
• 0:26
  Speaker 1: everybody you're a finance guy. And did you start out
• 0:29
  Speaker 1: in debt and then figured out how to get your
• 0:31
  Speaker 1: shit together?
• 0:32
  Speaker 2: Yeah? Exactly. I was in college doing all the stupid
• 0:36
  Speaker 2: American things, right, So you got that unlimited student loan
• 0:40
  Speaker 2: debt for a bullshit degree. I was going for music composition,
• 0:43
  Speaker 2: so complete bullshit degree.
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  Speaker 3: Uh.
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  Speaker 2: Maxing out every credit card one of the first pieces
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  Speaker 2: of financial advice I got at eighteen from the parents
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  Speaker 2: max out a credit card to get the piano I wanted.
• 0:53
  Speaker 2: So that's smart your parents. Yeah, this is the average
• 0:57
  Speaker 2: American experience. You just max out a credit card. I
• 0:59
  Speaker 2: don't know if your parents taught you anything about personal finances,
• 1:02
  Speaker 2: but most don't. It's it's bad. So this is maxing
• 1:05
  Speaker 2: out every credit card like everyone that comes on the show,
• 1:08
  Speaker 2: Like every American out there. We got one point six
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  Speaker 2: trillion dollars in credit card debt in this country, by
• 1:14
  Speaker 2: the way, Oh crazy amount, crazy amount. Defaults are to
• 1:17
  Speaker 2: like seven percent, which is insane. Seven percent of credit
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  Speaker 2: cards defaulting.
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  Speaker 1: That's crazy.
• 1:23
  Speaker 2: Yeah, that is really nuts. Yeah default Yeah, it's absolutely insane.
• 1:29
  Speaker 2: We have more auto loan debt in this country than
• 1:31
  Speaker 2: credit cards too. It's even crazier because Americans, you know,
• 1:34
  Speaker 2: they're big pickup trucks and everything. But either way, I
• 1:38
  Speaker 2: was doing that, got my Nissan Ultima, and you know,
• 1:42
  Speaker 2: thinking I was sick driving around and going into debt
• 1:46
  Speaker 2: for that family debt, everything. It was brutal, but it
• 1:50
  Speaker 2: was the average American life. That's what people are going
• 1:53
  Speaker 2: through every single day. And I finally got a wake
• 1:57
  Speaker 2: up call. I just I I was sitting in my
• 2:00
  Speaker 2: shitty apartment that I could barely afford, and I realized
• 2:06
  Speaker 2: the life I wanted to live just could not be
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  Speaker 2: sustained this way. I wanted to be a homeowner. It's
• 2:11
  Speaker 2: the American dream. Pick offense all that shit. Yeah, but
• 2:15
  Speaker 2: there's no way to do it with max out credit cards,
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  Speaker 2: private student loans, public student loans, everything. It was a mess.
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  Speaker 2: So got a sales job, just started grinding it out,
• 2:24
  Speaker 2: paying off the debt fully funded emergency fund. That's what
• 2:28
  Speaker 2: I try to teach people now. But you know, again,
• 2:31
  Speaker 2: the average Americans kind of an idiot with money, which
• 2:34
  Speaker 2: is fair. Well, they're not.
• 2:36
  Speaker 1: System you know, which is one of the things I
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  Speaker 1: think your content really helps because a lot of people
• 2:40
  Speaker 1: don't know what to do. You're in debt, like how
• 2:43
  Speaker 1: the fuck do I get out of this? And a
• 2:45
  Speaker 1: lot of people they know are in debt, so they
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  Speaker 1: don't have good advice. They're not going to get from
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  Speaker 1: their parents, right, so where you know, they have to
• 2:50
  Speaker 1: turn to somebody. And a lot of times, like financial
• 2:54
  Speaker 1: people online are very stiff and they're not enjoyable to
• 2:59
  Speaker 1: listen to you talk shit and you're very vocal, and
• 3:02
  Speaker 1: it's like, huh, okay, I get this guy. I can
• 3:05
  Speaker 1: relate to him. Yeah, tell me what to do. So
• 3:07
  Speaker 1: there's a lot of folks out there that connect with
• 3:09
  Speaker 1: you because of that, I think.
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  Speaker 2: Yeah, they call us the Jerry Springer Finance, which I like.
• 3:14
  Speaker 2: I take it. I take the ownership. They meant it
• 3:16
  Speaker 2: as a dig at first, but I take it because
• 3:18
  Speaker 2: it's fun. People don't go into financial topics because it's boring.
• 3:24
  Speaker 2: Why are you clicking out a video of a dude
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  Speaker 2: just like sitting at the camera, just like you know,
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  Speaker 2: iras or this. No one's gonna get into that personal
• 3:33
  Speaker 2: finance class. Like forty percent of states which is almost
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  Speaker 2: forty states out of the fifty states require personal finance
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  Speaker 2: class now, which is big progress over the last decade.
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  Speaker 2: But I mean, I was a peach of shit in
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  Speaker 2: high school. I'm sleeping through that class right. I'm not
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  Speaker 2: going to listen to things there. I couldn't. I could
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  Speaker 2: barely pass math schools is boring. So people still aren't
• 3:56
  Speaker 2: gonna pick it up there. They want something a little
• 3:59
  Speaker 2: more interesting to get into, and we give them that
• 4:02
  Speaker 2: with the Ross the dramas. The relationships of couples episodes
• 4:06
  Speaker 2: are my favorite because there's always financial financial stresses in relationship.
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  Speaker 3: And.
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  Speaker 2: I don't know if that actually gets people into personal
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  Speaker 2: finances as the best that's the best because we get
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  Speaker 2: you know, we get millions of views per episode on
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  Speaker 2: all platforms.
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  Speaker 1: It's kind of a Yeah, it's kind of a crime
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  Speaker 1: that they're not explaining to people when they're young and
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  Speaker 1: in high school how this could be a problem. They're
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  Speaker 1: trying to set you up for life, but they're not
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  Speaker 1: setting you up for one of the biggest problems that
• 4:38
  Speaker 1: most people face credit card debt and the big one
• 4:41
  Speaker 1: student loan debt, because that's the one you can't get
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  Speaker 1: away from. And there's a lot of people that are
• 4:46
  Speaker 1: just going, well, I guess I have to go to college.
• 4:49
  Speaker 1: And look, higher Education's great. It's good to be educated.
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  Speaker 1: It's good to get an education. But if you're spending
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  Speaker 1: hundreds of thousands of dollars for an education that you
• 4:57
  Speaker 1: aren't going to use at all, it might not be
• 5:00
  Speaker 1: the best thing for you. And when you're fucking eighteen,
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  Speaker 1: you really don't know. You know, you don't know what
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  Speaker 1: you want to do.
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  Speaker 2: You know, parents don't know anything either.
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  Speaker 1: No, they might be retarded, you might have idiot parents.
• 5:11
  Speaker 2: Well, no, the average parent in America is go to
• 5:14
  Speaker 2: any college to get any degree and borrow whatever it takes. Yeah,
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  Speaker 2: because college is the answer to all.
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  Speaker 1: Because it used to be. Yeah, there used to be
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  Speaker 1: the way that you got a good paying job. You
• 5:23
  Speaker 1: get out of college and hey you've got a degree,
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  Speaker 1: Oh you got your master's. Well you're oh, where are
• 5:28
  Speaker 1: you gonna live? Where are you gonna buy a house,
• 5:31
  Speaker 1: like you're gonna be set. What they don't tell you
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  Speaker 1: is that you are going to be saddled down with
• 5:36
  Speaker 1: insane amounts of debt, and then that debt compounds, it
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  Speaker 1: keeps going. So like I was reading this thing, I mean,
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  Speaker 1: you can tell me about what the actual numbers are,
• 5:45
  Speaker 1: but they were talking about the average actual debt that
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  Speaker 1: you owed. But what you wind up paying, which you
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  Speaker 1: actually wind up paying over the twenty years that it
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  Speaker 1: takes you to pay it off, it's fucking crazy. Yeah,
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  Speaker 1: it's substantially higher than the initial loan.
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  Speaker 2: Part of it is laziness too. People get on like
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  Speaker 2: that twenty year payment plan or forty year payment plan
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  Speaker 2: because they want to spend a little bit, you know,
• 6:08
  Speaker 2: just a little bit less right now, because I mean
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  Speaker 2: it makes sense. You get out of college, you want
• 6:12
  Speaker 2: to get an apartment, you want to live it up,
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  Speaker 2: you want to go on nice dates and trips, all
• 6:15
  Speaker 2: that good stuff. So you do the little minimum monthly payment.
• 6:18
  Speaker 2: But let me think about it. I assume you have
• 6:20
  Speaker 2: a mortgage, right, do you have a mortgage?
• 6:21
  Speaker 1: Yeah?
• 6:22
  Speaker 2: Okay, if you took that thirty year mortgage. But you're like, okay,
• 6:24
  Speaker 2: I want to pay a smaller amount now, so it's
• 6:27
  Speaker 2: stretched it to sixty years. The interest in overall payment
• 6:30
  Speaker 2: you're gonna do is insane, right. So the student loan,
• 6:34
  Speaker 2: a public student loan, it's actually a ten year payment,
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  Speaker 2: that's the standard. It's a ten year payment, you'll be
• 6:39
  Speaker 2: done in ten, but people stretch it to the twenty years.
• 6:42
  Speaker 2: The repayment assistance under Trump, the wrap plan that can
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  Speaker 2: be as little as one percent of your income on
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  Speaker 2: a monthly basis. That'll never be paid off.
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  Speaker 1: Now, those people will have it forever, forever.
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  Speaker 2: It'll be forgiven in forty years. It says, we'll see
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  Speaker 2: because you know it's new. But when people are doing that,
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  Speaker 2: they're gonna have it forever. It's gonna balloon, and then
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  Speaker 2: they're gonna complain about it when they chose not to
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  Speaker 2: just take the standard ten year plan.
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  Speaker 1: I saw an article about people with Social Security, so
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  Speaker 1: they're out, they're retired, and their money, their Social secure
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  Speaker 1: money is getting docked. It's getting docked because they're taking
• 7:19
  Speaker 1: money out of that to pay for your student loans. Yeah,
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  Speaker 1: I mean that obviously didn't work out for you because
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  Speaker 1: you're literally in debt from that student loan while you're
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  Speaker 1: retired from life. Yeah, which is fucking wild.
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  Speaker 2: It is. But I'll be candidate. I'm starting to not
• 7:33
  Speaker 2: have sympathy for the boomers and really not the best
• 7:36
  Speaker 2: best job market ever, best stock market in the history
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  Speaker 2: of the world. Every single boomer, Gen X whatever that's
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  Speaker 2: been on my show. They lived it up and spent
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  Speaker 2: all their money to live the lifestyle they wanted and
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  Speaker 2: they didn't even set ten percent aside a month, ten
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  Speaker 2: percent aside. They had the best housing market, college jobs,
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  Speaker 2: they were set up for everything. If they just put
• 7:58
  Speaker 2: five to ten percent a month aside in the stock
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  Speaker 2: market that they had that they had, they would be
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  Speaker 2: they would be multimillionaires. Most of them would be multimillionaires.
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  Speaker 2: But instead we're in a situation where I want them
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  Speaker 2: to BMW. Yeah, they can't pay their student loans. Social
• 8:17
  Speaker 2: Security twenty thirty three, that's when the funds dry, so
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  Speaker 2: payments get cut by percent.
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  Speaker 1: Yeah, twenty thirty three is when the funds dry up
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  Speaker 1: for Social Security.
• 8:26
  Speaker 2: Yeah, the actual fund that's sitting there, So every dollar
• 8:29
  Speaker 2: that goes out is money that's coming in that's projected
• 8:32
  Speaker 2: twenty three.
• 8:32
  Speaker 1: Well, we have to pay for transgender migrants. It's really important.
• 8:35
  Speaker 1: Some of them have back pain. They need to be
• 8:37
  Speaker 1: on Social Security forever.
• 8:38
  Speaker 2: Yeah, we just had a clip go viral two days
• 8:41
  Speaker 2: ago transgender woman Colorado.
• 8:44
  Speaker 1: I saw the video.
• 8:45
  Speaker 2: Yeah, taxpayer of hundred boobs. That's nice.
• 8:48
  Speaker 1: The way you explained it, or the way she explained
• 8:51
  Speaker 1: it was hilarious, you know, like something about how her
• 8:55
  Speaker 1: body's priceless, so like how much do they cost their
• 8:57
  Speaker 1: free Yeah.
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  Speaker 2: I can't blame her though, I mean the pros there, right,
• 9:00
  Speaker 2: of course, so I'd take it if I wanted some
• 9:02
  Speaker 2: new tits, of course. But it's crazy that we are.
• 9:05
  Speaker 2: And of course the when we filmed it was like
• 9:07
  Speaker 2: two days after I wrote a four million dollar you know,
• 9:10
  Speaker 2: income tax check whatever to the federal government.
• 9:13
  Speaker 1: Right, and you're thinking about this, like where's that money go?
• 9:16
  Speaker 2: It's going at tits, not finding proper social security.
• 9:19
  Speaker 1: Well, we were talking before about how Gavin Newsom wouldn't
• 9:22
  Speaker 1: do your podcast. Yes, but it's probably because like that
• 9:27
  Speaker 1: kind of debt. When you think about like California's debt
• 9:30
  Speaker 1: and California is spending and the waste and potential fraud.
• 9:35
  Speaker 1: I look at it like a garbage dump, like someone's saying, hey,
• 9:39
  Speaker 1: go look into that garbage dump and clean it up,
• 9:41
  Speaker 1: like oh, it's too much. And I think that's how
• 9:44
  Speaker 1: most people look at it. They look at it like
• 9:47
  Speaker 1: what twenty four billions missing for the homeless? How much
• 9:50
  Speaker 1: money went to that rail, that fucking high speed rail?
• 9:53
  Speaker 1: Like billions of dollars later, there's nothing done, Like what
• 9:56
  Speaker 1: are you doing?
• 9:57
  Speaker 2: Which is insane because America, the leader of the world,
• 10:00
  Speaker 2: should have incredible high speed rail. Yeah I want it.
• 10:03
  Speaker 2: I want to go to Dallas Houston in a couple
• 10:05
  Speaker 2: hours on a high speed rail. Maybe Texas could do it.
• 10:07
  Speaker 2: But just give California anything and they'll find a way
• 10:10
  Speaker 2: to mess it up and lose all the money.
• 10:11
  Speaker 1: Well, this is like the rail one is crazy because
• 10:14
  Speaker 1: like nothing's but how much have they spent on the
• 10:15
  Speaker 1: high speed rail so far?
• 10:17
  Speaker 2: It's something bonkers billions some.
• 10:20
  Speaker 1: Insane amount of money and nothing's been done. And there's
• 10:22
  Speaker 1: this guy on YouTube. Do you remember the guy on YouTube, Jamie,
• 10:25
  Speaker 1: he's on Instagram. Rather, the guy was on Instagram who says,
• 10:29
  Speaker 1: in the same amount of time that it took California
• 10:32
  Speaker 1: to not do that, this is what China's done. It
• 10:34
  Speaker 1: just over and over and over again. All the miles
• 10:36
  Speaker 1: of high speed rail they put in, all of this,
• 10:38
  Speaker 1: all of that, all like for the same amount of
• 10:41
  Speaker 1: money that California spent. This is what could have been done.
• 10:44
  Speaker 2: It's crazy, fucking nuts, bright Line.
• 10:47
  Speaker 1: It's private spent in order of mid teens of billions
• 10:51
  Speaker 1: midteen so far on the high speed rail, roughly around
• 10:55
  Speaker 1: fourteen to sixteen billion dollars as of the mid twenty twenties.
• 11:00
  Speaker 1: How much of it is done, Jamie, how much of
• 11:02
  Speaker 1: that rail's done?
• 11:03
  Speaker 3: It is actually getting close?
• 11:05
  Speaker 1: Oh my god, amazing.
• 11:07
  Speaker 2: What Bakersfield, I guess, Yeah, how much is completed?
• 11:16
  Speaker 1: Fourteen feet very little active construction? Oh, one hundred and
• 11:25
  Speaker 1: nineteen miles Madera near Bakersfield or under active construction. What
• 11:29
  Speaker 1: a great way to spend fourteen billion dollars. I bet
• 11:33
  Speaker 1: the homeless people are pissed. You could spend that money
• 11:34
  Speaker 1: on us.
• 11:35
  Speaker 2: And then once it's done, you'll get on the train.
• 11:37
  Speaker 2: You'll have fair evaders, people that just jumped over, that
• 11:40
  Speaker 2: are doing drugs on the train.
• 11:42
  Speaker 1: I ask, if you were twenty five in nineteen ninety,
• 11:46
  Speaker 1: you made an average US salary for forty years, saving
• 11:48
  Speaker 1: five to ten percent per month and the s and
• 11:50
  Speaker 1: P five hundred. How much would they have now? They
• 11:53
  Speaker 1: would have around two to five million dollars depending on
• 11:57
  Speaker 1: exact assumptions.
• 11:58
  Speaker 2: Starting shits insane, like this is hard for me to
• 12:03
  Speaker 2: and they we have the best disposable income in the
• 12:06
  Speaker 2: history of the world.
• 12:07
  Speaker 1: This is how crazy inflation is. The average salary in
• 12:11
  Speaker 1: nineteen ninety was twenty one thousand dollars. It's crazy. Isn't
• 12:15
  Speaker 1: that nuts? You mentioned someone told you had to live
• 12:18
  Speaker 1: off twenty one thousand dollars today you'd be like, oh fuck.
• 12:21
  Speaker 2: And yeah, even still, they could retire multimillionaires even still,
• 12:24
  Speaker 2: even with that, it's beautiful.
• 12:27
  Speaker 1: That is nuts if you know how to do it.
• 12:28
  Speaker 1: But how how would someone start doing something like that?
• 12:32
  Speaker 2: Honestly, low cost index funds. I'm sure you got a
• 12:34
  Speaker 2: money guy, But for the average American, there's these target
• 12:38
  Speaker 2: date retirement funds, so fidelity or whatever you want to use,
• 12:42
  Speaker 2: they have Essentially you just pick like within the five
• 12:45
  Speaker 2: years that you think you're going to retire, you just
• 12:47
  Speaker 2: bin in that and it just it balances it for you.
• 12:50
  Speaker 2: It goes more aggressive now and just more conservative by
• 12:53
  Speaker 2: the time you retire. It's so easy there's no reason
• 12:56
  Speaker 2: most people aren't doing it, even in their forum one
• 12:59
  Speaker 2: K where it's free money matches and everything. It doesn't
• 13:02
  Speaker 2: really make sense.
• 13:03
  Speaker 1: Should you have to teach yourself all this stuff.
• 13:06
  Speaker 2: I mean, I'll be honest, pretty much any personal finance
• 13:10
  Speaker 2: book or just like not even a class. Just watch
• 13:12
  Speaker 2: like a couple of YouTubers to dry YouTubers that maybe
• 13:14
  Speaker 2: no one's watching, and I mean, you'll get it like this.
• 13:17
  Speaker 2: It's it's super simple that kind of stuff. It gets
• 13:20
  Speaker 2: a little harder if you're thinking, like what kind of
• 13:22
  Speaker 2: perfect insurances do I need? You know, if you're trying
• 13:25
  Speaker 2: to individually stock trade. You know what scares me though,
• 13:29
  Speaker 2: People in our position right now, people under thirty sixty percent,
• 13:34
  Speaker 2: sixty percent of them are doing their portfolio trades based
• 13:38
  Speaker 2: on the podcasters they'll listening to. That's what's scary to me.
• 13:42
  Speaker 2: What really, yeah, sixty.
• 13:43
  Speaker 1: Percent podcasts are giving them advice.
• 13:47
  Speaker 2: Any personal finance, any personal finance. No even on like
• 13:51
  Speaker 2: kick or Twitch, there's streamers. I'll log on in the
• 13:54
  Speaker 2: morning just see who's streaming, And some of the top
• 13:56
  Speaker 2: viewed people are day traders. Really, with like twenty five
• 14:00
  Speaker 2: thousand concurrent viewers that are getting hundreds of thousands of
• 14:02
  Speaker 2: views a day.
• 14:03
  Speaker 1: So the kickstreamers that are doing finance or they just
• 14:06
  Speaker 1: essentially like letting people know what they're trading and what
• 14:08
  Speaker 1: to trade exactly, so you can basically just mirror them.
• 14:13
  Speaker 1: So you can say, okay, boy, black Rock, well whatever
• 14:16
  Speaker 1: you want to buy. Whatever they're doing, you'll like sort
• 14:19
  Speaker 1: of like the Pelosi stock Trader.
• 14:21
  Speaker 2: Yes, which has bought into the Pelosi Fund. Yeah, it's
• 14:24
  Speaker 2: doing really well.
• 14:25
  Speaker 1: I bet it is.
• 14:26
  Speaker 2: Yeah, I only put a thousand dollars in there. I
• 14:27
  Speaker 2: was a little scared. But it's doing really well. It's
• 14:29
  Speaker 2: beating my own money, guys.
• 14:31
  Speaker 1: So it's kind of hilarious.
• 14:35
  Speaker 2: She knows what she's doing, or people knows what she's doing.
• 14:37
  Speaker 1: Yeah, yeah, someone knows something. Yeah, they know something. It's
• 14:41
  Speaker 1: just it's crazy that it's legal. It's crazy that you
• 14:46
  Speaker 1: could know, Oh, we're going to do this big deal
• 14:48
  Speaker 1: with AI chips and so in Video makes AI chips.
• 14:52
  Speaker 1: I'm just gonna buy a shit ton of in Vidio stock,
• 14:54
  Speaker 1: and then boom, we passed this thing. Hey, look at
• 14:58
  Speaker 1: that five hundred percent increase.
• 14:59
  Speaker 2: We I think my thousands up like twenty to thirty percent.
• 15:02
  Speaker 2: In just a couple of months.
• 15:04
  Speaker 1: It's crazy.
• 15:05
  Speaker 2: It's crazy s and P five hundred when he searched
• 15:08
  Speaker 2: up averages ten percent a year. So it's crazy.
• 15:12
  Speaker 1: It is is nuts what you know and like what
• 15:15
  Speaker 1: are the laws? But it's like you could clearly follow her,
• 15:21
  Speaker 1: but what are the laws in terms of what what
• 15:23
  Speaker 1: she's allowed to do? Like how much information is she
• 15:27
  Speaker 1: allowed to have?
• 15:28
  Speaker 2: Yeah, well that's what's hard to track, right, The insider
• 15:31
  Speaker 2: trading is hard to track. They're getting into that shit
• 15:33
  Speaker 2: with Calci now right. I know some of the people
• 15:36
  Speaker 2: that were in the operation for Medoro in Venezuela, they're
• 15:40
  Speaker 2: getting in trouble. George Santo's you know George, did you
• 15:42
  Speaker 2: ever have George Santos?
• 15:43
  Speaker 1: No, But he's hilarious.
• 15:44
  Speaker 2: Yes, he's hilarious. But big investigation just opened up yesterday
• 15:48
  Speaker 2: or today.
• 15:49
  Speaker 1: Oh he just got a pardon for something else.
• 15:51
  Speaker 2: He bet he he went on Instagram or somebody and
• 15:57
  Speaker 2: he was like, hey, guys, I'm going to one hundred
• 15:59
  Speaker 2: percent be at the State of the Union. One hundred
• 16:01
  Speaker 2: percent I'm gonna be there. Here's my seat, And then
• 16:03
  Speaker 2: he immediately bet that he will not be at the
• 16:05
  Speaker 2: State of the Union. Yeah, so four people close to
• 16:08
  Speaker 2: him have been working with the FTC on that.
• 16:12
  Speaker 1: Oh my god, he's retarded.
• 16:13
  Speaker 2: Yeah, their pardon and everything.
• 16:16
  Speaker 1: That's so dumb. Bro, you got free and you're fun.
• 16:19
  Speaker 1: You should just do a podcast. Yes, he could make
• 16:21
  Speaker 1: millions doing a podcast.
• 16:23
  Speaker 2: Yeah, he's been on another podcast.
• 16:24
  Speaker 1: He's good. He would be great.
• 16:26
  Speaker 2: Is a sassy case, perfect camera, sassy, fun, smart, talks
• 16:30
  Speaker 2: a lot of shit.
• 16:31
  Speaker 1: He would be great as a host of a podcast.
• 16:33
  Speaker 1: Don't fucking do scams like.
• 16:35
  Speaker 2: That insider trading. So I guess that's his future now, lad.
• 16:39
  Speaker 1: Uh there's a was it polymarket? What was it? Where
• 16:41
  Speaker 1: they had odds on things that we do and what
• 16:44
  Speaker 1: we're gonna say, what guests we're gonna.
• 16:46
  Speaker 3: Have on Probably both of them are Probably both of them.
• 16:48
  Speaker 1: We looked at I said, Jamie, shut that fucking laptop
• 16:50
  Speaker 1: and do not open that website ever again, because like
• 16:53
  Speaker 1: you could do it, like we could want to, but
• 16:56
  Speaker 1: anybody could.
• 16:57
  Speaker 2: I'm not going to, but I kind of want to
• 16:59
  Speaker 2: bet that I would be on here.
• 17:00
  Speaker 1: Right, Like what are the odds? Like you could probably
• 17:02
  Speaker 1: bet a substantial amount of money through some fucking offshore account. Yeah,
• 17:06
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• 18:06
  Speaker 2: Both Pelosi who knows, I mean other people in Congress.
• 18:09
  Speaker 2: They wanna they wanna pass something where they can only
• 18:11
  Speaker 2: invest in, like large cap index funds like the s
• 18:15
  Speaker 2: and P five hundred mm. They're not passing that. They
• 18:17
  Speaker 2: don't care.
• 18:18
  Speaker 1: They don't care. It's also it's completely bipartisan. You know,
• 18:21
  Speaker 1: it's not like it's lent. Nancy Pelosi is the scapegoat.
• 18:24
  Speaker 1: She's the one that everybody beats on. But if you
• 18:26
  Speaker 1: look at it, it's red blue across the line. They're
• 18:29
  Speaker 1: all doing it. Yes, they're all trading. They're all making
• 18:32
  Speaker 1: shit tons of money. They all go into Congress broke,
• 18:35
  Speaker 1: they all come out rich as fuck. Yes, and they
• 18:37
  Speaker 1: get one hundred thousand dollars a year, like, fuck off,
• 18:40
  Speaker 1: fuck off, it's crazy. What is Uh? Pull up the
• 18:44
  Speaker 1: Sentos case, find out what's happening. I'm fascinated by.
• 18:47
  Speaker 3: I mean, honestly, he uh, it's uh, today's the second.
• 18:50
  Speaker 3: I guess it was yesterday.
• 18:51
  Speaker 2: He gets crafted.
• 18:53
  Speaker 1: By mpr R and is contact by NPR. Was like,
• 18:56
  Speaker 1: it's news to me, He said, it's news to him
• 19:00
  Speaker 1: by NPR, Well, that's news to me. When asked about
• 19:03
  Speaker 1: the insider trading probe underway this activity on Calci, Santo said,
• 19:07
  Speaker 1: I'm not saying yes, I'm not saying no. When the
• 19:10
  Speaker 1: NPI question whether he had a Calcy account, he wanted
• 19:13
  Speaker 1: to say. The co founder of Calci, Luana Lopez Lara,
• 19:16
  Speaker 1: is a fellow Brazilian whom he personally knows. He said
• 19:19
  Speaker 1: he would call her to get to the bottom whether
• 19:21
  Speaker 1: an investigation had been launched. Santo's promised to update NPR
• 19:25
  Speaker 1: on how the call went. He did not respond to
• 19:27
  Speaker 1: NPR's follow up messages. The thing is like he had
• 19:34
  Speaker 1: some crazy background discrepancies that you know, they deviated from
• 19:40
  Speaker 1: the truth slightly, right, There was some other stuff. It
• 19:43
  Speaker 1: wasn't just this like that's what the guy does. Yeah,
• 19:46
  Speaker 1: but meanwhile he's in this amazing position. He's got a name,
• 19:50
  Speaker 1: he's famous. People like him, he's fun, and he got
• 19:52
  Speaker 1: a fucking pardon from the President. Like, bro, straight and narrow,
• 19:57
  Speaker 1: get yourself a podcast, herself a YouTube show. You would
• 20:02
  Speaker 1: make some real money. He would make some real money.
• 20:05
  Speaker 2: Yeah. I don't know. I don't know what's going on
• 20:06
  Speaker 2: with that guy, man, I really don't. I think he's
• 20:09
  Speaker 2: just trying to get that get rich quick.
• 20:10
  Speaker 1: Let's see. Jamie put it into perplexity and it says
• 20:13
  Speaker 1: he built much of his public persona on false claims
• 20:15
  Speaker 1: about his biography, finances, and identity, and later also faced
• 20:19
  Speaker 1: criminal charges tied to deception and fraud. Damn. He falsely
• 20:24
  Speaker 1: claimed degrees from Baruch is That how you say it,
• 20:27
  Speaker 1: Barooch College in New York and NYU, even though even
• 20:31
  Speaker 1: saying graduated Summa cum lattie, although he has no college degree.
• 20:37
  Speaker 1: He said he worked at Goldman Sachs and the City Group.
• 20:40
  Speaker 1: Both firms reported no record of him as an employee.
• 20:43
  Speaker 1: Financed the career. Santel's portrayed himself as a seasoned Wall
• 20:47
  Speaker 1: Street financier and successful businessman, reporting a rapid jump in
• 20:52
  Speaker 1: income and large loans to his campaign, while journalists found
• 20:55
  Speaker 1: big gaps and unclear sources of wealth. He claimed Jewish
• 21:00
  Speaker 1: heritage and that his grandparents were Holocaust refugees, later backing off,
• 21:04
  Speaker 1: saying he was jew Ish after his maternal family background
• 21:10
  Speaker 1: not actually Jewish. He also made disputed statements about being
• 21:13
  Speaker 1: a landlord with a family real estate portfolio, and about
• 21:16
  Speaker 1: his mother's death being related to nine to eleven, although
• 21:18
  Speaker 1: she died in twenty sixteen.
• 21:20
  Speaker 2: That's crazy, what a king.
• 21:23
  Speaker 1: More animal rescue claims. He said he founded a nonprofit
• 21:27
  Speaker 1: that rescued twenty five hundred cats and dogs, but reporters
• 21:30
  Speaker 1: found no records of such an organization, cultural and lifestyle claims.
• 21:35
  Speaker 1: Brazilian drag performer shared photos of Santos in drag. He
• 21:39
  Speaker 1: initially denied ever doing drag and later minimized it as
• 21:44
  Speaker 1: just dressing up for a festival when he was young.
• 21:47
  Speaker 1: That's a funny dude. He's a funny dude. Back to jail, Eh,
• 21:53
  Speaker 1: he fucked. He was sentenced to eighty seven months in
• 21:56
  Speaker 1: prison for wire fraud and aggravated identity theft, with a
• 22:00
  Speaker 1: officials describing his conduct as a mountain of lies, theft,
• 22:03
  Speaker 1: and fraud. His short house tenure ended with expulsion after
• 22:07
  Speaker 1: an ethics report detailed misuse of campaign funds, including personal
• 22:11
  Speaker 1: luxury spending. Fucking dude, you could have been in jail
• 22:15
  Speaker 1: for eighty seven months and you got out and you
• 22:20
  Speaker 1: you blew it all on a bet. Like how much
• 22:22
  Speaker 1: did he make off the bet?
• 22:25
  Speaker 2: It's very fresh, this story. I heard it on the
• 22:28
  Speaker 2: news this morning, Homie.
• 22:31
  Speaker 3: I don't think it's specifically how much, because it was
• 22:35
  Speaker 3: more about what he did, so I don't think they
• 22:37
  Speaker 3: tracked his account, calcit, I don't think. I don't think
• 22:39
  Speaker 3: they've announced like how much he bet on it.
• 22:41
  Speaker 2: And that that is hard to trace, which is why
• 22:43
  Speaker 2: I think he did it right. I mean, though those
• 22:46
  Speaker 2: platforms are hard to trace. I think polymarket, I think
• 22:49
  Speaker 2: they're specifically like even just in crypto on the back end,
• 22:53
  Speaker 2: if I'm not mistaken, or in those similar kind of exchanges.
• 22:57
  Speaker 2: So like it's hard to track. So it's a good
• 23:01
  Speaker 2: place to insider trade. And he made some money. But
• 23:04
  Speaker 2: I think I listened on the news this morning, has
• 23:06
  Speaker 2: said four people close to him reported him though, So.
• 23:11
  Speaker 1: Well, when you're that kind of a fraudster allegedly and
• 23:14
  Speaker 1: that kind of a liar allegedly, you tend to not
• 23:18
  Speaker 1: have close friends that you could trust, you probably fuck
• 23:21
  Speaker 1: those guys over to Yeah, if they're they're turning him
• 23:24
  Speaker 1: in allegedly. I think it's funny though, because it's like
• 23:28
  Speaker 1: it's really unfortunate because he had a real opportunity, like
• 23:32
  Speaker 1: he became a public person.
• 23:34
  Speaker 2: And he still does. Maybe he'll get another pardon.
• 23:37
  Speaker 1: No, I doubt it. I doubt it'll give him a pardon.
• 23:40
  Speaker 2: I don't know why I got the first one.
• 23:41
  Speaker 1: He'd probably be so mad if Trump got a phone
• 23:43
  Speaker 1: call from him ask him for a second pardon.
• 23:46
  Speaker 2: Why did he get the first one.
• 23:47
  Speaker 1: Do you know, I have no idea. Let's find out.
• 23:49
  Speaker 1: Let's ask Yeah, why do you get pardoned? There's a
• 23:55
  Speaker 1: lot of people that got pardoned where you're like, wait what, Yeah,
• 23:59
  Speaker 1: the Biden thing was not where they pardon more people
• 24:02
  Speaker 1: than ever ever, any president ever, and how much of
• 24:06
  Speaker 1: it was done with the auto pen So he's literally
• 24:10
  Speaker 1: like barely there. Right, we all agree at this point.
• 24:13
  Speaker 1: I mean they used to be just oh yeah, I
• 24:15
  Speaker 1: was a starter. We all now say he was barely there.
• 24:19
  Speaker 1: So someone else was doing that. So what's the legality
• 24:23
  Speaker 1: of that? What is the legality of selling.
• 24:26
  Speaker 2: Pardons and the preemptive pardons too?
• 24:28
  Speaker 1: Oh those are nuts? Yeah, those are How about for
• 24:30
  Speaker 1: crimes that just don't exist? Just no, you're not accused
• 24:33
  Speaker 1: of anything. What'd you do? He did not receive a pardon.
• 24:36
  Speaker 1: His prison sentence was commuted by President Donald Trump, which
• 24:39
  Speaker 1: led him out of prison early but left his convictions
• 24:41
  Speaker 1: in place. Interesting In October twenty fifth. October of twenty
• 24:46
  Speaker 1: twenty five, rather, Trump signed a com commutation with for
• 24:51
  Speaker 1: former Representative George Santos, ordering his immediate release from federal prison,
• 24:55
  Speaker 1: where he was serving a roughly seven year sentence for
• 24:58
  Speaker 1: fraud and identity theft. Commutation shortens or eliminates the punishment,
• 25:03
  Speaker 1: but it does not erase the conviction or declare the
• 25:06
  Speaker 1: person innocent, unlike a full pardon. Trump said Santos had
• 25:10
  Speaker 1: been horribly mistreated and had spent long periods in solitary confinement,
• 25:14
  Speaker 1: which Trump framed as too harsh for a rogue politician
• 25:18
  Speaker 1: compared with others. Commentators widely interpret the move as fitting
• 25:22
  Speaker 1: Trump's pattern of granting clemency to political allies and loyalists,
• 25:26
  Speaker 1: rather than based on traditional justice system criteria. I mean, look,
• 25:31
  Speaker 1: it's a weird thing that you could do. The fact
• 25:33
  Speaker 1: that you're the president and you could just say, what
• 25:36
  Speaker 1: did you do? You robbed a bank? Eh, you're sorry,
• 25:39
  Speaker 1: get free. Meanwhile, if you don't know the president, you're
• 25:42
  Speaker 1: in the bank forever. Like that is a crazy loophole
• 25:45
  Speaker 1: that still exists, that makes no logical sense whatsoever.
• 25:49
  Speaker 2: Yeah, you just help people around you are your kids
• 25:52
  Speaker 2: whatever it is.
• 25:53
  Speaker 1: Or a friend of a friend. Yeah yeah, somebody hooks
• 25:57
  Speaker 1: you up and you know them, and their cousin needs
• 25:59
  Speaker 1: a And there's a guy and maybe he did it,
• 26:02
  Speaker 1: maybe he didn't. You can get him out.
• 26:05
  Speaker 2: I mean I'd pardon a lot of people if I
• 26:06
  Speaker 2: would people. I get it.
• 26:09
  Speaker 1: Well, we've on this show. We've done a lot of
• 26:11
  Speaker 1: work with my friend Josh Dubin, who used to work
• 26:14
  Speaker 1: with The Innocent Project and now he works with the
• 26:17
  Speaker 1: Ike Permetter Center for Legal Justice and or Criminal Justice.
• 26:22
  Speaker 1: So it's all people that are wrongly convicted, and there's
• 26:25
  Speaker 1: a shit ton of them, and you find out that
• 26:27
  Speaker 1: there's these rogue politicians or that rather prosecutors, these rogue
• 26:31
  Speaker 1: prosecutors and rogue das and rogue cops that just have
• 26:35
  Speaker 1: fucking dozens and dozens of bullshit convictions where they fucking
• 26:40
  Speaker 1: hid evidence. They absolutely knew the person that they arrested
• 26:44
  Speaker 1: was the wrong person. They don't care. They just want
• 26:46
  Speaker 1: a conviction. They just they don't care. They lose their
• 26:50
  Speaker 1: ability to give a fuck whether or not the person
• 26:52
  Speaker 1: that's in jail is actually guilty of that crime, and
• 26:55
  Speaker 1: they justified in their head while he was a drug dealer,
• 26:58
  Speaker 1: or he was a this, or he was a that,
• 27:00
  Speaker 1: and he fucked off his whole life, we're better off
• 27:02
  Speaker 1: with him beat in jail. Let me go to Morton's
• 27:05
  Speaker 1: and have a stake.
• 27:06
  Speaker 2: You take that and then you compare it with like
• 27:09
  Speaker 2: every violent crime that has happened in Austin this year
• 27:12
  Speaker 2: are people that have been repeat criminals just let loose.
• 27:16
  Speaker 2: Oh yeah, yeah, okay, so locking on people that don't
• 27:18
  Speaker 2: deserve it. And then a guy, a guy off of
• 27:21
  Speaker 2: three sixty here in Austin killed his family and he
• 27:24
  Speaker 2: was let out a couple times before.
• 27:26
  Speaker 1: Yeah, yeah, I'm not a fan of that. That's a
• 27:28
  Speaker 1: different thing, you know. So you got both things right.
• 27:32
  Speaker 1: You have these very liberal das who are letting people
• 27:37
  Speaker 1: go if they think that they're you know, from a
• 27:40
  Speaker 1: protected class, or if they've been they've experienced racism, or
• 27:45
  Speaker 1: they've experienced some sort of an unjust situation as a
• 27:50
  Speaker 1: youth and they need a second chance and the system
• 27:53
  Speaker 1: is racist, and so you'll let him loose. But you've
• 27:55
  Speaker 1: got people that, you know, like the guy that pushed
• 27:58
  Speaker 1: someone in front of the train in New York City
• 28:00
  Speaker 1: had been rested over a dozen times, Like the fuck
• 28:03
  Speaker 1: are you doing? And there's some kind of crazy statistic,
• 28:07
  Speaker 1: particularly about New York City that's something like fifty percent
• 28:11
  Speaker 1: of all the crimes are by a very small number
• 28:14
  Speaker 1: of people. Oh yeah, very small number of repeat people.
• 28:17
  Speaker 1: And if those people were in jail. Literally crime you
• 28:20
  Speaker 1: could half violent crime, half robberies half yeah, fifty percent.
• 28:25
  Speaker 2: It's crazy. I saw some people doing analysis of like
• 28:29
  Speaker 2: the kind of content and news we were getting in
• 28:32
  Speaker 2: twenty fifteen by people that I watched and liked, like
• 28:35
  Speaker 2: the vlog Brothers and stuff on YouTube, where everything was
• 28:37
  Speaker 2: about the prison industrial complex, which I'm not saying is
• 28:40
  Speaker 2: not a thing. It's certainly there's just definitely issues, for sure,
• 28:43
  Speaker 2: but it was about how, you know, we have the
• 28:47
  Speaker 2: highest prison population and stuff, and again these aren't untrue things,
• 28:51
  Speaker 2: but it started putting out all this unchallenged information about
• 28:55
  Speaker 2: how we are too critical in this country and too punishing.
• 28:59
  Speaker 2: And and then what you started to see after that
• 29:01
  Speaker 2: was the politicians like the DA here, the DA in
• 29:03
  Speaker 2: San Francisco coming around the twenty twenty stuff, after the
• 29:06
  Speaker 2: George Floyd situation and everything where all of a sudden
• 29:09
  Speaker 2: it was beyond soft on crime, like beyond where they
• 29:12
  Speaker 2: could do any amount of property damage that they wanted
• 29:14
  Speaker 2: in San Francisco and just no challenges. So the DA
• 29:18
  Speaker 2: in Chicago that raised i think the theft for felony
• 29:24
  Speaker 2: threshold from like fifty dollars to five hundred dollars or something.
• 29:28
  Speaker 2: It was something crazy. So all that information crazy, all
• 29:32
  Speaker 2: that information that we were all consuming was just unchallenged.
• 29:37
  Speaker 2: All you had was like a boomer on Fox News
• 29:39
  Speaker 2: is yelling. That was like the only challenge to that
• 29:43
  Speaker 2: kind of information that was coming around twenty fifteen. And
• 29:45
  Speaker 2: I was a fan of that information. I ate it alive.
• 29:49
  Speaker 2: And then now we're facing the consequences of it. Yeah,
• 29:53
  Speaker 2: it's kind of crazy.
• 29:54
  Speaker 1: Well, it's also you find out that there's there's sort
• 29:58
  Speaker 1: of a dark element to it, and there's people like
• 30:01
  Speaker 1: George Soros in the Open Society Foundation, and what they
• 30:05
  Speaker 1: do is they they invest their money in politicians, they
• 30:09
  Speaker 1: invest their money in das, and they get like the
• 30:11
  Speaker 1: most liberal, the most you know, progressive, the one who's
• 30:16
  Speaker 1: gonna do the most damage to the city in terms
• 30:19
  Speaker 1: of crime. And then he funds the next guy to
• 30:22
  Speaker 1: compete against him, who's further left, and they go further
• 30:26
  Speaker 1: and further and further until you've got people like the
• 30:28
  Speaker 1: guy that got rid of in Los Angeles that you know,
• 30:31
  Speaker 1: was just violent crimes. So let this guy pulled a
• 30:34
  Speaker 1: knife on a sheriff who was trying to attack a
• 30:36
  Speaker 1: sheriff of the knife and then they let him out,
• 30:38
  Speaker 1: and then he hacked up some guy with his kids
• 30:41
  Speaker 1: with a fucking machete in Malibu or in Santa Monica,
• 30:43
  Speaker 1: wherever it was. It's like, you hear these stories and
• 30:45
  Speaker 1: you're like, this is fucking insane. When someone's a violent
• 30:48
  Speaker 1: criminal and they commit violent crimes, they need to go
• 30:51
  Speaker 1: to jail. And if you don't do that, you're gonna
• 30:53
  Speaker 1: encourage people to do violent crimes. So why are these
• 30:57
  Speaker 1: prosecutors doing this, Why are these das doing this? Doing
• 31:00
  Speaker 1: it because they want to do They want society and fail.
• 31:03
  Speaker 1: Well some of them do. Some of them actually do.
• 31:07
  Speaker 1: They would like our civilization to fall. They think America
• 31:11
  Speaker 1: is evil.
• 31:12
  Speaker 2: Interesting, that's interesting.
• 31:14
  Speaker 1: Elon's deep into it, man, I've had conversations with him
• 31:17
  Speaker 1: about it, and explains the way Soros does it, and
• 31:20
  Speaker 1: it's actually it's a great investment because like to invest
• 31:24
  Speaker 1: in politicians in terms of like to spend money on
• 31:26
  Speaker 1: a campaign for the president, it's a lot of money.
• 31:28
  Speaker 1: Spend money on a campaign for becoming the governor, that's
• 31:31
  Speaker 1: a lot of money, but a local da not that
• 31:34
  Speaker 1: much money. And for a great return on your investment,
• 31:37
  Speaker 1: you can fucking tank a city by having one insane
• 31:41
  Speaker 1: da Like, who's the guy in LA they got rid of?
• 31:44
  Speaker 1: Was it Garza? Was that his name? This guy was
• 31:47
  Speaker 1: fucking out there. I mean, he was releasing all kinds
• 31:51
  Speaker 1: of crazy criminals and you're like, why would you do that?
• 31:54
  Speaker 1: And there was ado. There was a podcast that I
• 31:57
  Speaker 1: was listening to where there was a former gang leader
• 31:59
  Speaker 1: who is leaving Los Angeles because he was saying, it's
• 32:02
  Speaker 1: getting too dangerous and they're about to release thousands of
• 32:06
  Speaker 1: people from prison because the prisons are over crowded, so
• 32:08
  Speaker 1: they're releasing thousands and thousands of violent offenders, and he
• 32:12
  Speaker 1: was sounding the alarm for it for a gang leader,
• 32:15
  Speaker 1: He's like, this is too hot. We got to get
• 32:17
  Speaker 1: out of here.
• 32:18
  Speaker 2: Like that, That's the primary reason I'm against the things
• 32:21
  Speaker 2: like all the funding for the train in California specifically,
• 32:26
  Speaker 2: because I actually really like I'm a big advocate for
• 32:29
  Speaker 2: public infrastructure and even like dense living, Like I love
• 32:32
  Speaker 2: when you visit a place that is like dense and
• 32:35
  Speaker 2: really cool, lots of community. I love that we can't
• 32:38
  Speaker 2: do that because we have these people that just let
• 32:41
  Speaker 2: the violent criminals out. They let people hop fares in
• 32:45
  Speaker 2: San Francisco and smoke meth on the train. I want trains.
• 32:50
  Speaker 2: I want something. I wish Austin had an incredible subway system.
• 32:53
  Speaker 2: We can't if we keep letting out these horrible people
• 32:56
  Speaker 2: that will be everywhere, these people with mental health issues
• 32:59
  Speaker 2: that we won't put in a place that is more
• 33:01
  Speaker 2: humane than letting them sleep on the street. We'll let
• 33:04
  Speaker 2: them crash at the anytime. I mean, and my girl,
• 33:07
  Speaker 2: we drive past a bus stop and we're just like,
• 33:10
  Speaker 2: we would never ride a bus here, right, because just
• 33:14
  Speaker 2: every I've seen people light up a meth pipe on
• 33:17
  Speaker 2: South Lamar at a bus stop and there's this people
• 33:20
  Speaker 2: that are just sleeping there and you can't even wait
• 33:22
  Speaker 2: for a bus. I want these nice things. We can
• 33:25
  Speaker 2: have these nice things, but we can't if we just
• 33:28
  Speaker 2: let people overrun them.
• 33:31
  Speaker 1: So what do you think if you had to put
• 33:32
  Speaker 1: on your tinfoil hat and really trying to make an
• 33:37
  Speaker 1: assessment of like why this is happening, Like why are
• 33:41
  Speaker 1: they allowing this? Why hasn't no one done what is
• 33:45
  Speaker 1: the sensible thing protect the peaceful, tax paying, kind and
• 33:50
  Speaker 1: compassionate people of the city from violent criminals? Why are
• 33:54
  Speaker 1: you allowing these people to continually be released. Why are
• 33:57
  Speaker 1: you so soft on crime? Like, what are you doing?
• 34:00
  Speaker 2: Yeah, well, honestly, definitely not as deep as Musket is
• 34:04
  Speaker 2: on this. But for me, I really think it's this
• 34:06
  Speaker 2: political capture. When you get in those ecosystems now online,
• 34:11
  Speaker 2: you can get on TikTok and it'll immediately figure out
• 34:14
  Speaker 2: within three minutes what group to put you in, and
• 34:17
  Speaker 2: then you hear no other perspective. And we know young generations,
• 34:22
  Speaker 2: especially young women, they've moved more politically extreme than any
• 34:25
  Speaker 2: other generation in the history of the United States. And
• 34:28
  Speaker 2: they've moved to the left, you know, left right, I
• 34:30
  Speaker 2: don't care, but they've moved to the extreme version. And
• 34:33
  Speaker 2: when you're politically captured, you then vote for the people
• 34:37
  Speaker 2: that are more politically captured on that left, and there
• 34:41
  Speaker 2: is a lot of that moral masturbation that comes with it.
• 34:44
  Speaker 2: It sounds good. We had all that information around twenty
• 34:47
  Speaker 2: fifteen twenty twenty, that that any one that's going to
• 34:53
  Speaker 2: prison is you know, just for having weed or anything
• 34:56
  Speaker 2: like that, we're just evil as a society. And when
• 35:00
  Speaker 2: you get that and you start moral masturbating about everything,
• 35:03
  Speaker 2: it sounds right like things like rank control, it sounds good.
• 35:07
  Speaker 2: It sounds like the moral thing to do. Not letting many,
• 35:10
  Speaker 2: not just putting people in prison for a long time
• 35:12
  Speaker 2: sounds nice. Sounds nice. Not kicking people off the street
• 35:16
  Speaker 2: when they're homeless. It sounds nice. Not doing those sweeps,
• 35:19
  Speaker 2: it sounds nice.
• 35:20
  Speaker 1: Yeah.
• 35:20
  Speaker 2: And people that are politically captured online, especially in our algorithms,
• 35:26
  Speaker 2: it's just so brutal, and they just vote for that
• 35:28
  Speaker 2: on repeat because they hear no alternative perspective. And even
• 35:31
  Speaker 2: still it's so politically captured now where it's like, if
• 35:34
  Speaker 2: you disagree with one percent, you're a Nazi and you're
• 35:37
  Speaker 2: you know, get out of here, you're not one of us.
• 35:39
  Speaker 2: It's pretty brutal. I always considered myself like pretty left
• 35:44
  Speaker 2: of center. Actually, I'm probably more centrist now economically, I've
• 35:48
  Speaker 2: moved a little to the right over the past few years.
• 35:50
  Speaker 2: But but compared to the people surrounding me in college
• 35:54
  Speaker 2: that were definitely like far left because you know, music
• 35:57
  Speaker 2: school and all that stuff, but they were still algorithmically captured.
• 36:00
  Speaker 2: I was borderline like a Nazi because I just didn't
• 36:03
  Speaker 2: agree with everything. Yeah, you know, maybe the taxes shouldn't
• 36:07
  Speaker 2: fund tents, right, I'm sorry if I'm a Nazi for that,
• 36:10
  Speaker 2: like we have too much blows.
• 36:13
  Speaker 1: I think you're absolutely correct about the political capture, but
• 36:16
  Speaker 1: I think it's also manipulated, and that still doesn't account
• 36:19
  Speaker 1: for who's funding the DA campaigns and the fact that
• 36:23
  Speaker 1: Soros does get involved in these kind of things, and
• 36:25
  Speaker 1: not just him but others as well.
• 36:26
  Speaker 2: I think he truly believes in it though, like this
• 36:29
  Speaker 2: is the right thing, like we have a prison issue.
• 36:33
  Speaker 1: No, No, I don't think so. I think he banks
• 36:35
  Speaker 1: on it. I think I mean he's he's made money
• 36:37
  Speaker 1: off of collapsing societies, like he's he's an interesting character.
• 36:43
  Speaker 1: He seems like completely immune to the consequences like spiritually
• 36:48
  Speaker 1: of what he does.
• 36:49
  Speaker 2: Fair enough, it's a flaw of mine. I guess I
• 36:52
  Speaker 2: just assume the worst until I see the best.
• 36:54
  Speaker 1: So I just that's not a flaw. That's you're a
• 36:56
  Speaker 1: good person.
• 36:56
  Speaker 2: Well it's sucked me over a lot of times. But
• 36:58
  Speaker 2: like I mean, I I just assume that even if
• 37:01
  Speaker 2: I disagree with them politically, they think it actually has
• 37:04
  Speaker 2: a positive outcome. Yeah, I want to think that.
• 37:07
  Speaker 1: I used to. I think now more they want to
• 37:09
  Speaker 1: pretend that they think it's going to have a positive
• 37:12
  Speaker 1: outcome because he could justifies what they're doing. And then
• 37:15
  Speaker 1: it also I think with politicians it's really a self
• 37:18
  Speaker 1: serving thing. They just know that people are politically captured,
• 37:21
  Speaker 1: so they say the things that the politicians like. Listen,
• 37:24
  Speaker 1: Gavin Newsom in any other world could easily be a Republican. Okay,
• 37:27
  Speaker 1: if we're living in the nineteen nineties, he might have
• 37:29
  Speaker 1: been like this is nonsense, Like this like his perspectives
• 37:32
  Speaker 1: on things, it's about personal gain. It's about his campaign
• 37:36
  Speaker 1: and his image. And that's why when he addresses any
• 37:40
  Speaker 1: of the issues with California, he always goes into this
• 37:42
  Speaker 1: pre planned speech about we're the biggest tech sector, we're
• 37:45
  Speaker 1: a number four the world of the world economy, starts
• 37:48
  Speaker 1: moving his hands around. He's got a little fuck of
• 37:50
  Speaker 1: voodoo dance he does because it's not really about addressing
• 37:54
  Speaker 1: the situation. It's about framing it in a very positive
• 37:56
  Speaker 1: way so that he looks good, so that he moves forward.
• 37:59
  Speaker 1: And that's what he wants to do.
• 38:00
  Speaker 2: And you're starting to see him come closer to center now,
• 38:04
  Speaker 2: being opposed to the billionaire tax and other things like
• 38:07
  Speaker 2: that and leaving they're leaving, but a lot of the
• 38:11
  Speaker 2: you know, everyone running for governor on the left was
• 38:15
  Speaker 2: okay with the billionaire tax, but since he's going to
• 38:17
  Speaker 2: be eyeing for president, he needs to be a little
• 38:19
  Speaker 2: more saying. And I mean pretty much every independent report says, yes,
• 38:23
  Speaker 2: it'll capture tens of billions quickly, but it will lose
• 38:26
  Speaker 2: hundreds of billions over the long term because the wealth
• 38:29
  Speaker 2: that you tax on a yearly basis is just leaving.
• 38:31
  Speaker 1: It's not just that it's a slippery slope. It's it
• 38:34
  Speaker 1: might start with billionaires, it'll work its way down, it'll
• 38:37
  Speaker 1: work its way down two thousand airs.
• 38:39
  Speaker 2: Taxes typically have they always do.
• 38:41
  Speaker 1: As soon as they and also they have the ability
• 38:43
  Speaker 1: to change the goalposts once the bill gets passed. The
• 38:46
  Speaker 1: billiets pass, they don't have to have you vote on
• 38:48
  Speaker 1: who gets taxed more, and we can just decide. Like
• 38:52
  Speaker 1: Bernie Sanders used to rally against, used to rail against
• 38:54
  Speaker 1: billion millionaires, it's always gonna be millionaires, all these millionaires.
• 38:58
  Speaker 1: And there's the problem. They're not And now it's billionaires.
• 39:01
  Speaker 1: Why because Bernie's a millionaire. Now it's adorable, it's adorable
• 39:07
  Speaker 1: in its transparency, But like these fucking kids don't understand,
• 39:12
  Speaker 1: Like there's a giant number of kids today that come
• 39:15
  Speaker 1: out of the university system that think that communism is
• 39:18
  Speaker 1: the solution. Oh yeah, genuinely believe in it. Yeah, it's
• 39:22
  Speaker 1: very scary because you're literally saying, first of all, how
• 39:27
  Speaker 1: does that get enforced? How do you think it gets enforced?
• 39:30
  Speaker 1: How does it Who tells the people that they have
• 39:32
  Speaker 1: to give up their money and their property the fucking government?
• 39:35
  Speaker 1: Then who's holding the military and the property the government?
• 39:38
  Speaker 1: Oh so the people with the guns? Oh so you
• 39:40
  Speaker 1: want a military dictatorship essentially to be able to control
• 39:44
  Speaker 1: all the finances, who owns a home, who owns a farm?
• 39:47
  Speaker 1: Where the food comes from? You think that's a good idea.
• 39:50
  Speaker 2: It's never works. I don't know why they're for it.
• 39:53
  Speaker 1: There's not even a mildly decent version of it out there.
• 39:57
  Speaker 1: They can go, well, they're not as good as us,
• 39:59
  Speaker 1: But it's no, they're too bad.
• 40:01
  Speaker 2: I'll give them some credit. I'll give them a little
• 40:03
  Speaker 2: bit of grace. Sure, I think they're a little retarded,
• 40:05
  Speaker 2: but I'll give them some grace. A lot of times
• 40:09
  Speaker 2: when you ask them, those people that come out of
• 40:10
  Speaker 2: college what communism is, they think it's like Scandinavia, okay,
• 40:14
  Speaker 2: and socialism that's how they define it, not like very literal,
• 40:18
  Speaker 2: and those aren't socialist countries anyway. All their programs are
• 40:21
  Speaker 2: funded on capitalism, that's taxed through the income that's earned
• 40:24
  Speaker 2: on capitalism. So I'll give them that grace. But no,
• 40:27
  Speaker 2: it is true that many people are viewing communism in
• 40:31
  Speaker 2: general as more favorable. And we know college is also
• 40:35
  Speaker 2: very politically captured. It's very politically captive.
• 40:39
  Speaker 1: That's the danger the dangerous. Children are getting a very
• 40:42
  Speaker 1: distorted perception of what the reality of the world is
• 40:45
  Speaker 1: like right out of school by people who don't live
• 40:47
  Speaker 1: in the world. That's what's so fucked. Like these people
• 40:50
  Speaker 1: that are teaching, they've essentially gone from being a student
• 40:54
  Speaker 1: to working in a university to being a professor. That's
• 40:57
  Speaker 1: their entire life, and they're telling you about the outside world.
• 41:00
  Speaker 1: They're literally prisoners who are telling you about things that
• 41:04
  Speaker 1: are going on in places where they never go and
• 41:06
  Speaker 1: never visit. Like you're not living in the real world,
• 41:09
  Speaker 1: like your concepts about socialism and communism that you're teaching
• 41:14
  Speaker 1: these kids, like you don't live in the real world.
• 41:19
  Speaker 1: You didn't start a business, don't you don't get fired
• 41:23
  Speaker 1: by one company and hired by another and you try
• 41:26
  Speaker 1: to build your own small business. You're not doing that.
• 41:28
  Speaker 1: You're just teaching concepts and ideas which most people that
• 41:33
  Speaker 1: have done those things, that have jobs, that have started
• 41:36
  Speaker 1: business think are fucking ridiculous and don't work and have
• 41:39
  Speaker 1: never worked anywhere in human history. And yet that's how
• 41:43
  Speaker 1: you're employed to shape young minds. That's crazy.
• 41:47
  Speaker 2: They've looked at some universities and they look at the
• 41:50
  Speaker 2: political identification or doing pollings on different departments, and they've
• 41:55
  Speaker 2: had like sociology departments where it's like three hundred Democrats
• 42:00
  Speaker 2: and one registered Republican. Which, again, I don't think there's
• 42:03
  Speaker 2: anything wrong with having a left wing position or viewpoint.
• 42:06
  Speaker 2: I'm not saying that at all. Again, I agree with
• 42:08
  Speaker 2: a lot on the left. But when when something where
• 42:11
  Speaker 2: you're spending four years has that ratio, it's going to
• 42:15
  Speaker 2: get overwhelming in terms of the information you get without
• 42:19
  Speaker 2: any alternative perspective.
• 42:21
  Speaker 1: Right.
• 42:22
  Speaker 2: I was in college again in music school, and this
• 42:25
  Speaker 2: was the amount of just craziness that I was around.
• 42:29
  Speaker 2: Even though I'm slight, you know, have those left wing
• 42:32
  Speaker 2: social positions. I'm vehemently against that woke shit because when
• 42:37
  Speaker 2: I was there, we had a visiting professor talking about music.
• 42:41
  Speaker 2: She played a piece of music and she was like, Okay,
• 42:43
  Speaker 2: give me your feedback. I just want honest feedback on this,
• 42:45
  Speaker 2: and I was I didn't really like it. I was like,
• 42:47
  Speaker 2: you know, to me, I can't really describe it, but
• 42:49
  Speaker 2: it's a little weird. Then I had to listen to
• 42:51
  Speaker 2: a ten minute lecture about how the word weird has
• 42:53
  Speaker 2: been used for colonialism and slavery and imprisoning people in
• 42:59
  Speaker 2: murdering people of and people who have transitioned and stuff.
• 43:02
  Speaker 2: Because I said the word weird, it's politically captured, and
• 43:07
  Speaker 2: there wasn't No one would speak up against that. No
• 43:10
  Speaker 2: one would speak up against that. I don't know if
• 43:12
  Speaker 2: there are other normal people around me, other professors that
• 43:15
  Speaker 2: didn't believe what she was saying, but no one was
• 43:17
  Speaker 2: willing to because you'd be ostracized, you'd be fucked, you
• 43:20
  Speaker 2: wouldn't have friends there exactly. So when the ratio is
• 43:24
  Speaker 2: something like five hundred to one in certain departments, you're
• 43:27
  Speaker 2: never going to get an alternative viewpoint. So it makes
• 43:29
  Speaker 2: sense that it gets more extreme. It doesn't even have
• 43:31
  Speaker 2: to be fifty to fifty, but five hundred to one
• 43:34
  Speaker 2: is crazy. Two hundred and one is crazy even fifty
• 43:36
  Speaker 2: to one.
• 43:37
  Speaker 1: Yeah, for sure. Well, it's something you need to have
• 43:40
  Speaker 1: alternative perspectives from respective people. They need to be able
• 43:43
  Speaker 1: to communicate with each other. That's what the real diversity
• 43:46
  Speaker 1: is all about. It's not just like where your fucking
• 43:48
  Speaker 1: ancestors came from. It's also diversity of thought, and which
• 43:51
  Speaker 1: is crazy that the people that are really into diversity
• 43:54
  Speaker 1: reject completely diversity of thought. This idea that no one
• 43:59
  Speaker 1: who is more to the right of you could possibly
• 44:02
  Speaker 1: have a point is insane. Now, I'm with you socially,
• 44:06
  Speaker 1: I'm very liberal. Financially I agree with you. I'm more
• 44:11
  Speaker 1: I tend to swing more to the right because I
• 44:13
  Speaker 1: believe in human nature. My problem with the concept of
• 44:17
  Speaker 1: socialism it goes against human nature people. If you're gonna
• 44:23
  Speaker 1: punish people who are ambitious and reward people who are not,
• 44:27
  Speaker 1: that's not good. That's just not good for human nature.
• 44:31
  Speaker 1: It rewards laziness, It rewards people that feel entitled. It
• 44:35
  Speaker 1: rewards this idea that the government that they should pay,
• 44:39
  Speaker 1: that these rich people should pay because they've done well, Well,
• 44:42
  Speaker 1: why aren't you doing well, is a question that doesn't
• 44:44
  Speaker 1: get asked to these people.
• 44:46
  Speaker 2: Well, the question of taxes is getting completely turned on
• 44:48
  Speaker 2: and said anyway, I've never been opposed to paying more
• 44:51
  Speaker 2: in taxes if it went to something good, right, But
• 44:54
  Speaker 2: people are no longer proposing it to go to good things.
• 44:57
  Speaker 2: When you see it advocated online. Now it's that person
• 44:59
  Speaker 2: has a lot of money, let's take something.
• 45:01
  Speaker 1: Well's, yes, exactly, And it's also very abstract, like they
• 45:04
  Speaker 1: should pay their first share. Shouldn't we figure out where
• 45:08
  Speaker 1: the fucking money's going first? When you have thousands and
• 45:11
  Speaker 1: thousands of NGOs, you have all these billions moving around
• 45:15
  Speaker 1: in very mysterious ways, you're not concerned with that. But
• 45:18
  Speaker 1: instead you want to take money from this guy who's
• 45:21
  Speaker 1: got this giant penhouse, like that Ken Griffin thing where
• 45:23
  Speaker 1: mom Donnie's standing in front of it, like, yes, crazy,
• 45:26
  Speaker 1: this guy has a two hundred and fifty million dollars
• 45:28
  Speaker 1: you're doxing his fucking house.
• 45:30
  Speaker 2: Crazy, Which is stupid because now this is gonna take
• 45:32
  Speaker 2: all the wealth from New York and go down to Miami.
• 45:35
  Speaker 1: I know, but it's a weird thing where some of
• 45:37
  Speaker 1: these you know, democrats, socialist mayors, they they don't seem
• 45:41
  Speaker 1: to think that that's a problem. Like that lady in
• 45:43
  Speaker 1: Seattle is like, well, if they leave, goodbye.
• 45:46
  Speaker 2: Okay. I actually like Mondomie as a person. I really
• 45:49
  Speaker 2: dislike the lady in Seattle as a person. She seems
• 45:52
  Speaker 2: like a bad person, just laughing at people leaving, laughing
• 45:56
  Speaker 2: at wealth leaving, laughing at jobs leaving. They're not even
• 45:59
  Speaker 2: leaving water. They're going to Bellevue. They're going across the
• 46:03
  Speaker 2: river where Microsoft and everyone's building new campuses. They're living
• 46:06
  Speaker 2: in Seattle, and she's laughing at it. They have the
• 46:09
  Speaker 2: second highest downtown office vacancy in the country and she's
• 46:13
  Speaker 2: laughing at it. That's not a good person.
• 46:16
  Speaker 1: Well, she's also never had a job, which is crazy.
• 46:20
  Speaker 1: Imagine your first job, you're the head of a fucking city.
• 46:25
  Speaker 2: Yeah. Oh, then you end up with that. And now
• 46:28
  Speaker 2: people are leaving.
• 46:29
  Speaker 1: And the Montoni thing is also interesting because one of
• 46:31
  Speaker 1: the things you said recently is that they if they
• 46:33
  Speaker 1: have bad landlords, they might take the house. Have you
• 46:37
  Speaker 1: seen that, Yeah, which is like, okay, communism, you're gonna
• 46:41
  Speaker 1: capture real estate. The farm is spending too, it's too
• 46:45
  Speaker 1: much money for a tomato. We're gonna take over the farm,
• 46:47
  Speaker 1: like this is North Korea. This is how it started.
• 46:50
  Speaker 1: Give us your farm, We'll feed everybody.
• 46:53
  Speaker 2: Oh great, I'd love to say that survived the courts,
• 46:56
  Speaker 2: but it's a crazy idea that or even there. And
• 47:00
  Speaker 2: of course those bad landlords that we're talking about, they
• 47:03
  Speaker 2: are usually like rent controlled units where they can't bring
• 47:06
  Speaker 2: in enough money to even maintain the units, so then
• 47:09
  Speaker 2: the units fall. I mean the percentagy units I don't know,
• 47:12
  Speaker 2: you can look up the exact number, but that are
• 47:14
  Speaker 2: just sitting empty because there's not enough money to put
• 47:16
  Speaker 2: into them just to bring them up to date is crazy.
• 47:19
  Speaker 2: This is the most populated city in the country. People
• 47:22
  Speaker 2: need places to live, and we have a system right
• 47:24
  Speaker 2: now where people can't even bring units to rent up
• 47:27
  Speaker 2: to date for people to live in. So there's like
• 47:30
  Speaker 2: ten percent of rent controlled units or something that are
• 47:32
  Speaker 2: are not rent controlled. But it's brutal. It's an absolute
• 47:37
  Speaker 2: brutal system. It's performative in the There's also.
• 47:40
  Speaker 1: This weird thing that goes on in New York City
• 47:42
  Speaker 1: with really expensive apartments where people buy them and never
• 47:45
  Speaker 1: live in them because it's just a place to put
• 47:47
  Speaker 1: your money.
• 47:48
  Speaker 2: Which we do too we do that overseas in Europe
• 47:50
  Speaker 2: doing Yeah. Yeah, American billion I mean billionaires all over
• 47:53
  Speaker 2: the world do that because real estate is just a
• 47:55
  Speaker 2: good protective asset. It's a good way to preserve. But no,
• 47:58
  Speaker 2: I mean it makes sense in places like Texas have
• 48:00
  Speaker 2: banned people from China doing that, but it makes sense
• 48:04
  Speaker 2: from a wealth preservation standpoint, but they it's shitty for
• 48:08
  Speaker 2: the residents of the city. So I mean, I think
• 48:10
  Speaker 2: I think it could be fair for them to outlaw
• 48:12
  Speaker 2: that if they wanted to. Kevin O'Leary's counter perspective, though,
• 48:15
  Speaker 2: have you heard his no so on that, And I
• 48:17
  Speaker 2: don't know if I agree with it, but it's worth considering.
• 48:19
  Speaker 2: Is that Okay? But they're there, they buy it, they
• 48:22
  Speaker 2: don't go there, so they're not using any public services,
• 48:25
  Speaker 2: but they pay the property taxes into the public services,
• 48:27
  Speaker 2: so they're just a net contributor.
• 48:29
  Speaker 1: That does make sense.
• 48:30
  Speaker 2: Yeah, but it is also a place that someone could
• 48:32
  Speaker 2: live that no one is living.
• 48:33
  Speaker 1: Right, But when you're talking about these hundred million dollar
• 48:36
  Speaker 1: apartments like the Ken Griffin Spot, like, guess what, You're
• 48:40
  Speaker 1: never going to live there.
• 48:41
  Speaker 2: Yeah, And they wouldn't have built it if they couldn't
• 48:42
  Speaker 2: sell it to people like him anyway, exactly.
• 48:44
  Speaker 1: So it's the whole reason why they invested in the
• 48:46
  Speaker 1: property in the first place. Yeah, there's that one that
• 48:48
  Speaker 1: I was looking at. They built this kooky fucking tower
• 48:52
  Speaker 1: that's like a popsicle stick? Have you ever seen that one?
• 48:55
  Speaker 1: And it's waving in the wind now and it makes
• 48:57
  Speaker 1: weird noises and no one wants to live in it.
• 48:58
  Speaker 2: Uh huh. I think some last falls from it too, right, Yeah, really,
• 49:03
  Speaker 2: I think so. The one right off Central Park Glass,
• 49:06
  Speaker 2: it's happened a few times.
• 49:07
  Speaker 1: I don't know. I watched a video on it. The
• 49:09
  Speaker 1: video was essentially talking about like the engineering that was
• 49:11
  Speaker 1: involved and making sure this thing anchors to the ground.
• 49:14
  Speaker 1: And you would think you have to worry about this
• 49:16
  Speaker 1: big thing that's really and then you would worry about sinking, right, Well,
• 49:20
  Speaker 1: actually they worry about it lifting because the wind is
• 49:24
  Speaker 1: slowly rocking it back and forth, so it's fucking coming
• 49:27
  Speaker 1: out of the ground.
• 49:28
  Speaker 2: And then the people will just buy there and not
• 49:29
  Speaker 2: even live there. Well it's preservation. Well, so it works.
• 49:33
  Speaker 1: I don't think I think they're having a hard time
• 49:34
  Speaker 1: selling spots because I think people were probably I would
• 49:38
  Speaker 1: look at that, I go, I'm not gonna be able
• 49:39
  Speaker 1: to sell this. Yeah, like so if you do buy
• 49:42
  Speaker 1: into it, you might be stuck with it.
• 49:44
  Speaker 3: No.
• 49:44
  Speaker 2: Absolutely, I'm again down to pay more in taxes. But
• 49:49
  Speaker 2: like you said, there is the fear of like, where's
• 49:51
  Speaker 2: the money going? Well scares me. I want to have
• 49:54
  Speaker 2: mister Mark Rubio, if he ever sees this and runs
• 49:56
  Speaker 2: for president on my show. The Pentagon hasn't passed an
• 49:59
  Speaker 2: audit in years. Even that alone, they're working on it.
• 50:02
  Speaker 2: They're working on it for years, going to a decade.
• 50:05
  Speaker 1: They've never passed a budget, never pass an audit.
• 50:08
  Speaker 2: It's crazy like that alone. I mean that alone. And
• 50:12
  Speaker 2: I know military is still it's what is it ten
• 50:14
  Speaker 2: to twenty percent of the federal budget, so it's a
• 50:16
  Speaker 2: smaller percentage, but the fastest growing category of the federal
• 50:19
  Speaker 2: budget is interest payments on our debt. That's the fastest
• 50:23
  Speaker 2: growing category in the federal budget. If that's the case,
• 50:27
  Speaker 2: why are we allowing the Pentagon to not pass an audit.
• 50:30
  Speaker 2: We're going to raise defense spending to a trillion dollars
• 50:32
  Speaker 2: a year, but it can't pass an audit. I want
• 50:34
  Speaker 2: good defense, I want broad defense. I want a lot
• 50:37
  Speaker 2: of benefits for our soldiers. Yeah, it has to pass
• 50:40
  Speaker 2: an audit.
• 50:41
  Speaker 1: Yeah, well, this is the thing, I mean exactly what
• 50:44
  Speaker 1: we're talking about. Like we're in favor of paying taxes.
• 50:47
  Speaker 1: It'd be great if everything was nice, the schools were great,
• 50:49
  Speaker 1: the streets were clean. But when you'll know that there's
• 50:53
  Speaker 1: so much waste and there's so much fraud, and then
• 50:56
  Speaker 1: all they're saying is we need to make people pay
• 50:58
  Speaker 1: their share, to pay it to where where's going, who's
• 51:02
  Speaker 1: benefiting from it? You know, when you when you see
• 51:04
  Speaker 1: the like the twenty four billion dollars that was spent
• 51:07
  Speaker 1: on the homeless in California, it's like you don't have
• 51:11
  Speaker 1: any knowledge of where that money went. You can't audit it.
• 51:15
  Speaker 1: This is bananas. That's so much fucking money, and not
• 51:19
  Speaker 1: only has it not bit effective, it's been the opposite
• 51:21
  Speaker 1: of effective. The homelessness increased during that time. Yeah, so
• 51:25
  Speaker 1: you spend all that money and more people are homeless
• 51:27
  Speaker 1: now than when you started.
• 51:29
  Speaker 2: It's performative. It sounds good, it sounds good. It's all performative.
• 51:33
  Speaker 1: It's also a hate of hope. It's jobs. There's so
• 51:35
  Speaker 1: many people that have jobs in nonprofits and they make
• 51:38
  Speaker 1: an extraordinary amount of money.
• 51:39
  Speaker 2: Well, that's why they should look to Houston and said
• 51:42
  Speaker 2: in nonprofits, it's one central city run organization and they've
• 51:46
  Speaker 2: actually decreased homelessness with like a ten percent of the
• 51:50
  Speaker 2: budget per homeless person than LA. But LA has all
• 51:53
  Speaker 2: the network for every little corner of the homeless services.
• 51:57
  Speaker 2: It's a network of different nonprofits and organizations. So it
• 52:00
  Speaker 2: doesn't work. The city program. One central city program did
• 52:04
  Speaker 2: it in Houston and it's actually been working.
• 52:07
  Speaker 1: How do they do it? What are they doing differently.
• 52:09
  Speaker 2: Well, instead of these different organizations that all have these
• 52:13
  Speaker 2: different incentives to maintain the jobs, like you said, and
• 52:16
  Speaker 2: not even report certain data. This is a city organization
• 52:20
  Speaker 2: actually held responsible by the people, by the voters, by
• 52:24
  Speaker 2: the city council. This is one place where the money goes.
• 52:27
  Speaker 2: It's not these endless nonprofit jobs. The incentives are just
• 52:31
  Speaker 2: misaligned across the board.
• 52:34
  Speaker 1: Yeah, it's interesting that there are examples of cities that
• 52:38
  Speaker 1: have done it well. And Austin had a real problem
• 52:42
  Speaker 1: in twenty twenty and they did a great job in
• 52:44
  Speaker 1: cleaning it up a little bit. But small city, you know, relatively.
• 52:49
  Speaker 2: Feel pretty rough. Downtown though it gets rough.
• 52:52
  Speaker 1: Listen, man, I have a club on Sixth Street.
• 52:54
  Speaker 2: I know. I go there all the time and I
• 52:55
  Speaker 2: almost get shanked. It's scary.
• 52:58
  Speaker 1: It's wild, I think, though once you get in, it's
• 53:00
  Speaker 1: kind of exciting, like whoa we made? It adds to
• 53:03
  Speaker 1: the show.
• 53:04
  Speaker 2: I was in. I put my parents in a hotel.
• 53:06
  Speaker 2: We went to the rooftop patio and it overlooked the
• 53:09
  Speaker 2: alley right behind Sixth Street. And I don't know if
• 53:12
  Speaker 2: it was the other side of the road or not,
• 53:13
  Speaker 2: but the alleys are scary. Though. Oh yeah, it's brutal.
• 53:16
  Speaker 2: It looks something out of like a Batman movie from
• 53:19
  Speaker 2: the nineties or eighties. I can't believe it's actually allowed,
• 53:23
  Speaker 2: and it's not. And they say it's sympathetic. They say
• 53:26
  Speaker 2: it's sympathetic and nice to it. I don't know how
• 53:29
  Speaker 2: that's considered any more nice than any kind of Gosh
• 53:33
  Speaker 2: Force rehabilitation seems brutal. But the mental health places, I
• 53:37
  Speaker 2: know they weren't great before Reagan Tank that alley exactly.
• 53:41
  Speaker 2: It's better than an alley.
• 53:42
  Speaker 1: Yeah, it's better than an alley. And this is another
• 53:44
  Speaker 1: weird thing about Sixth Street is that Sixth Street is
• 53:48
  Speaker 1: like this booming like bars and music and comedy. It's
• 53:52
  Speaker 1: crazy and it's loud and everybody's drinking. One block over
• 53:56
  Speaker 1: is a homo shelter. Yeah, so you got all these
• 53:59
  Speaker 1: people that are drugs and trying to stay clean. Drinker
• 54:03
  Speaker 1: like that's the other thing. You can't do drugs and
• 54:05
  Speaker 1: stay there. So people just surround it. They surround the
• 54:08
  Speaker 1: outside area and they have their tents laid out there.
• 54:12
  Speaker 1: Not anymore, they kind of pull the tents up. But
• 54:13
  Speaker 1: you see those people there all the time. But imagine
• 54:15
  Speaker 1: you're trying to stay clean and you're a block away
• 54:17
  Speaker 1: from madness.
• 54:18
  Speaker 2: It's crazy.
• 54:19
  Speaker 1: It's the dumbest place to put them. Put them in
• 54:21
  Speaker 1: the fucking country. Like you see squirrels here, birds chirp.
• 54:24
  Speaker 1: Why are you putting them right there?
• 54:25
  Speaker 2: That's where I park when I go to a show.
• 54:27
  Speaker 2: When I go to a show at the Mothership, I
• 54:30
  Speaker 2: park right next to the arc. It's scary. It's apocalyptic,
• 54:34
  Speaker 2: it really is. Even the police station just right down
• 54:36
  Speaker 2: the street. They surround that as well.
• 54:38
  Speaker 1: Yeah, and we just a lot.
• 54:39
  Speaker 2: It's a police station. And by doing drugs fucking kind
• 54:41
  Speaker 2: of crazy.
• 54:42
  Speaker 1: It's nuts. Well, they're trying to do some things with
• 54:44
  Speaker 1: Sixth Street and one of the things they're doing, they're
• 54:46
  Speaker 1: investing a lot of money and trying to open up
• 54:48
  Speaker 1: high end places and restaurants and businesses. But you know
• 54:51
  Speaker 1: it's gonna be a slow slog to try to clean
• 54:55
  Speaker 1: it up.
• 54:55
  Speaker 2: I mean, I'm sympathetic they actually the people do need help.
• 54:59
  Speaker 2: But when when homelessness is like, at minimum twenty five
• 55:03
  Speaker 2: percent this is reported from pulling done via homeless people,
• 55:06
  Speaker 2: So can one hundred percent trust it, but twenty five
• 55:09
  Speaker 2: percent mental health issues? Like, what are you gonna do?
• 55:11
  Speaker 2: You're just gonna let them forever be wherever they want
• 55:14
  Speaker 2: and do whatever they want in danger themselves and others.
• 55:16
  Speaker 2: There's a dude constantly wielding a machete down there that's
• 55:20
  Speaker 2: always just twirling it. When I had friends visiting other
• 55:22
  Speaker 2: big podcasters, I took him down downtown. The first thing
• 55:25
  Speaker 2: I saw on six ers was a guy spinning a machete.
• 55:28
  Speaker 2: It's like, we're just allowing that that's the sympathetic thing
• 55:31
  Speaker 2: to do. It doesn't make any sense to me. Twenty
• 55:34
  Speaker 2: five percent forever it might allow them. That's a very
• 55:37
  Speaker 2: low number, Yes, I think so.
• 55:38
  Speaker 1: But being very kind by saying twenty five percent. I
• 55:41
  Speaker 1: would say it's probably eighty there. Listen, if you if
• 55:45
  Speaker 1: you just by definition, if you're a drug addict, you
• 55:48
  Speaker 1: have a mental health problem. Just by definition, you have
• 55:51
  Speaker 1: an addiction. That's a mental health issue. You know, there's
• 55:54
  Speaker 1: a physical aspect to it, but there's clearly a mental
• 55:56
  Speaker 1: aspect to it. It sucks, it sucks it. You know,
• 56:00
  Speaker 1: there's so many competing philosophies on how to make a
• 56:03
  Speaker 1: society run correctly, and a lot of them just completely
• 56:07
  Speaker 1: ignore reality and we deal with the consequences of it.
• 56:10
  Speaker 1: And then you have people saying, oh, the billionaires aren't
• 56:13
  Speaker 1: paying their fair share, that's what's wrong. That's not what's wrong.
• 56:17
  Speaker 1: What's wrong is you have a completely captured government. And
• 56:21
  Speaker 1: there's also this weird aspect to it where there's people
• 56:24
  Speaker 1: that are working for nonprofits to make things better that
• 56:28
  Speaker 1: don't make anything better. They don't do a good job
• 56:31
  Speaker 1: at all because they're not beholden to all the pressures
• 56:34
  Speaker 1: that you would have if you were an independent business,
• 56:37
  Speaker 1: if you're an actual private business that was assigned a
• 56:41
  Speaker 1: task of cleaning up the homeless issue, you wouldn't make
• 56:45
  Speaker 1: any money if you didn't do a good job. You
• 56:48
  Speaker 1: would lose your business, like if you had if homelessness
• 56:52
  Speaker 1: is cleaning up the homelessness was an actual business, and
• 56:55
  Speaker 1: you started a private business to clean up the homeless
• 56:58
  Speaker 1: and you got all this money, nobody would invest your company.
• 57:00
  Speaker 1: Your company would fall apart, it wouldn't work. But because
• 57:04
  Speaker 1: it's a nonprofit, you could have a seven hundred thousand
• 57:07
  Speaker 1: dollars a year salary and do a fucking terrible job
• 57:09
  Speaker 1: and have no fear whatsoever being unemployed.
• 57:12
  Speaker 2: Yeah, exactly. And another difference between Houston and la that
• 57:16
  Speaker 2: I forgot to mention earlier. I mean, a part of
• 57:18
  Speaker 2: it is the cost of labor, cost of housing. But
• 57:23
  Speaker 2: a play, a shelter or a room to put a
• 57:25
  Speaker 2: homeless person that is starting to get clean in Houston
• 57:28
  Speaker 2: costs a few hundred thousand dollars. It costs a million
• 57:31
  Speaker 2: or more in California. That's just you can't compete against that. Yeah,
• 57:36
  Speaker 2: it's impossible. Now oftentimes that's California's own fault. There are
• 57:41
  Speaker 2: laws and permitting issues and red tape and environmental codes
• 57:45
  Speaker 2: are crazy for building, and the labor unions that they
• 57:48
  Speaker 2: use for their building contracts are very They like to
• 57:51
  Speaker 2: extort so there's a lot of issues there. Houston's able
• 57:54
  Speaker 2: to build it on the cheap, which means more people
• 57:55
  Speaker 2: are able to get in housing, but California is very
• 57:58
  Speaker 2: set on the housing first, which again is the moral thing.
• 58:03
  Speaker 2: It sounds moral, and it really started to take off
• 58:05
  Speaker 2: a couple decades ago, where Okay, let's get someone into
• 58:08
  Speaker 2: housing first and then try to get them clean, because
• 58:10
  Speaker 2: no one's gonna get clean then housing. But Houston's been
• 58:13
  Speaker 2: trying to In Texas, Citi's have been trying to do
• 58:15
  Speaker 2: the opposite, and it's been working, where we try to
• 58:17
  Speaker 2: get people clean first and then aren't get into that
• 58:21
  Speaker 2: housing and get their lives set up. Because people have
• 58:23
  Speaker 2: been going into these places in LA that are multimillions
• 58:25
  Speaker 2: of hours and trashing it and they get like lower
• 58:28
  Speaker 2: in stories off of them, like a dude that was
• 58:30
  Speaker 2: like building like chairs or something and then burn down
• 58:34
  Speaker 2: his apartment and l he was named like chair guy,
• 58:37
  Speaker 2: like everyone knew him. It's just crazy that we allow
• 58:40
  Speaker 2: that people that are not getting the help and support
• 58:43
  Speaker 2: they need because it's housing first, because it sounds good,
• 58:47
  Speaker 2: but it hasn't been working. And I don't know why.
• 58:50
  Speaker 2: I don't know it's the political capture. Again, I don't
• 58:52
  Speaker 2: know why we're willing to do something for five, ten,
• 58:55
  Speaker 2: fifteen years, see it doesn't work, and then just say
• 58:58
  Speaker 2: we have to keep doing it and put more money
• 59:00
  Speaker 2: towards it.
• 59:00
  Speaker 1: Well, I think again, what you're saying earlier about social
• 59:04
  Speaker 1: media and these echo chambers is really important because in
• 59:07
  Speaker 1: their world, this is the only thing to do, and
• 59:10
  Speaker 1: that's that all just get this feedback loop where it's
• 59:13
  Speaker 1: the right thing to do, the only thing to do,
• 59:15
  Speaker 1: and they come up with reasons why it's not working
• 59:17
  Speaker 1: and then call everybody Nazis.
• 59:19
  Speaker 2: Yeah, and that's why. Also, those echo chambers are why
• 59:22
  Speaker 2: when polled, younger people are more okay with violence against
• 59:26
  Speaker 2: people on the other side of the political aisle from them,
• 59:28
  Speaker 2: which is a very scary place to go, very scary,
• 59:31
  Speaker 2: especially when I see death threats all the time in
• 59:33
  Speaker 2: my inbox and you know, doxying and shit like that.
• 59:36
  Speaker 2: They call me a fascist for saying, don't spend more
• 59:38
  Speaker 2: money than you make. Okay, so I'm a fascist. Now
• 59:41
  Speaker 2: I'm afraid from my life and I have to get
• 59:43
  Speaker 2: security and all this stuff. It's crazy.
• 59:45
  Speaker 1: So you get threats for like what specifically, do they
• 59:48
  Speaker 1: get upset at it's literally just saying, don't spend your money.
• 59:51
  Speaker 2: It's everything they don't like that I do roast consensual,
• 59:54
  Speaker 2: consensual roast, like I call a fat bitch of hat bitch.
• 59:59
  Speaker 2: But I have the conversation with her before, and if
• 1:00:01
  Speaker 2: she didn't want me to, I wouldn't have done that,
• 1:00:03
  Speaker 2: because we have a no no list where people get
• 1:00:05
  Speaker 2: to say what they don't want us to talk about,
• 1:00:08
  Speaker 2: and then I just won't talk about that.
• 1:00:10
  Speaker 1: But that's very nice for you.
• 1:00:12
  Speaker 2: It is very nice. So that's because we try to run,
• 1:00:13
  Speaker 2: you know, a moral, consentual show, all that good stuff.
• 1:00:16
  Speaker 2: But I love to roast people and just call out
• 1:00:18
  Speaker 2: their features. It's just dumb shit like that. So people
• 1:00:20
  Speaker 2: get offended by that, offended on behalf of someone who's
• 1:00:22
  Speaker 2: not offended in the first place, and then they get
• 1:00:24
  Speaker 2: very angry. I got a death threat on Twitter yesterday
• 1:00:28
  Speaker 2: for Satan Americans spend too much money on cars. He
• 1:00:32
  Speaker 2: said I should that it's crazy that Caleb Hammer is
• 1:00:35
  Speaker 2: still breathing air, and that he should come up from
• 1:00:37
  Speaker 2: San Antonio and kill me or something I don't remember,
• 1:00:39
  Speaker 2: or something like that. It's kind of crazy because Americans
• 1:00:42
  Speaker 2: spent too much money on cars maybe sells cars maybe,
• 1:00:46
  Speaker 2: but objectively we do.
• 1:00:48
  Speaker 1: Check his profile. Is it a real person?
• 1:00:51
  Speaker 2: It said san Antonio. That's all I know. That's all
• 1:00:54
  Speaker 2: I know. I'm sure it was like a It could
• 1:00:56
  Speaker 2: be about the second profile he was. He was responding
• 1:00:59
  Speaker 2: to it. He was excited. You know, he got a
• 1:01:02
  Speaker 2: crazy person.
• 1:01:03
  Speaker 1: Yeah.
• 1:01:04
  Speaker 2: Yeah, And we get emails all the time. No, people
• 1:01:06
  Speaker 2: think I'm evil because they say I don't talk about
• 1:01:09
  Speaker 2: the issues that led us here in the first place.
• 1:01:11
  Speaker 2: But it's a personal responsibility show because more people have
• 1:01:15
  Speaker 2: agency than they're willing to acknowledge. Right, Like, we're in
• 1:01:18
  Speaker 2: the highest disposable income society and the history of human existence.
• 1:01:22
  Speaker 2: Not everything's perfect. Cost of housing's gone up, cost of
• 1:01:26
  Speaker 2: school's gone up, cost of healthcare has gone up. We
• 1:01:27
  Speaker 2: can acknowledge those realities, but people have agency. People have agency.
• 1:01:33
  Speaker 2: The amount of going out to eat among the generation's
• 1:01:36
  Speaker 2: Z is insane compared to any other generation. And not
• 1:01:40
  Speaker 2: only that, but now for twenty five percent of their
• 1:01:44
  Speaker 2: going out to eat multiple times a week is getting
• 1:01:46
  Speaker 2: food delivered, and that has a ninety percent markup ninety percent.
• 1:01:51
  Speaker 2: And then they're complaining that they can't afford to pretty
• 1:01:54
  Speaker 2: much do anything, get a nice apartment or whatnot, But
• 1:01:56
  Speaker 2: for spending like a thousand dollars a month, which is
• 1:01:59
  Speaker 2: very normal for a person on my show going out
• 1:02:01
  Speaker 2: to eat. You're right, you can't get an apartment of
• 1:02:05
  Speaker 2: your dreams when a thousand dollars a month is going
• 1:02:08
  Speaker 2: to McDonald's. In other places, cooking at homes become like
• 1:02:13
  Speaker 2: a burden, become a victim complex now. Well, actually that
• 1:02:17
  Speaker 2: was another thing that triggered the Internet. I kind of
• 1:02:18
  Speaker 2: agreed with Kevin O'Leary when it said our young people
• 1:02:21
  Speaker 2: are broke because they spent twenty eight hours going out
• 1:02:23
  Speaker 2: to eat. Well, it's not that specifically only, but it's
• 1:02:26
  Speaker 2: the death of a small of a thousand cuts. And yes,
• 1:02:31
  Speaker 2: just twenty eight dollars three times a week becomes an
• 1:02:34
  Speaker 2: actual halfway decent retirement fund. If you put it in
• 1:02:37
  Speaker 2: the s and P. Five hundred for a few times
• 1:02:39
  Speaker 2: a week, that does put off future goals that you have.
• 1:02:43
  Speaker 2: And the Internet went crazy against me. They hated me
• 1:02:46
  Speaker 2: for suggesting that that they shouldn't be able to get.
• 1:02:48
  Speaker 2: They're like, well, how do we eat groceries? Meal prep,
• 1:02:51
  Speaker 2: meal plan? This is what everyone's done since forever We
• 1:02:55
  Speaker 2: live in the best period ever for humans, best period ever.
• 1:03:00
  Speaker 2: Our jobs are better, everything's better. Even when you think
• 1:03:03
  Speaker 2: of like buying the starter home in the fifties and whatever,
• 1:03:06
  Speaker 2: you know, they were like the size of this room
• 1:03:08
  Speaker 2: that we're in right now, mass produced. Okay, that's still
• 1:03:10
  Speaker 2: a home. That's great, you could buy, But you were
• 1:03:12
  Speaker 2: going to a job that you hated, that you were sweating,
• 1:03:14
  Speaker 2: that had no ac where you're working with your hands
• 1:03:16
  Speaker 2: all day and it was miserable. They didn't like the jobs.
• 1:03:20
  Speaker 2: They liked that they had a good pain job. But
• 1:03:22
  Speaker 2: now people go to the office and they think they're
• 1:03:25
  Speaker 2: a victim for not being able to meal prep before
• 1:03:27
  Speaker 2: going to the office. The a seed office like. It's
• 1:03:30
  Speaker 2: hard for me to sympathize with that, especially when I
• 1:03:32
  Speaker 2: filmed three of them a week, all one hundred percent
• 1:03:35
  Speaker 2: real people, mostly gen Z and millennials, who are absolute
• 1:03:40
  Speaker 2: victims in everything. They are victims and everything they think.
• 1:03:44
  Speaker 2: They think if they don't get a twenty twenty seven
• 1:03:47
  Speaker 2: brand new car instead of a twenty twenty five car,
• 1:03:50
  Speaker 2: that they're gonna die, that all of a sudden, cars
• 1:03:52
  Speaker 2: two years ago were the most dangerous things. They have
• 1:03:54
  Speaker 2: to get a sixty to seventy thousand hour car loan
• 1:03:56
  Speaker 2: at a twenty percent interest rate, or else their kids
• 1:03:59
  Speaker 2: will die.
• 1:04:00
  Speaker 1: You've actually had that conversation. They think that they're gonna die.
• 1:04:04
  Speaker 2: No, because the excuses they use is that I wanted
• 1:04:10
  Speaker 2: a safe car for my kids. That's fine, But is
• 1:04:13
  Speaker 2: the insinuation that twenty twenty four, twenty twenty three, twenty
• 1:04:16
  Speaker 2: twenty two cars would literally go on the highway and
• 1:04:20
  Speaker 2: blow up. Like I don't understand. They insist if they
• 1:04:23
  Speaker 2: don't get a brand new car that is it is
• 1:04:25
  Speaker 2: not a safe car. That is an argument every time
• 1:04:28
  Speaker 2: with Americans. The one point six trillion dollars sort of
• 1:04:31
  Speaker 2: one point five trillion dollars in car loan debt.
• 1:04:33
  Speaker 1: So do you think that's just a lack of education,
• 1:04:36
  Speaker 1: because like, a car from twenty twenty is just as
• 1:04:38
  Speaker 1: safe as a car from twenty twenty six. There's no difference. Absolutely,
• 1:04:41
  Speaker 1: There's no difference in airbags, no difference in anti lock breaks,
• 1:04:44
  Speaker 1: there's very few differences in any of the technology involved.
• 1:04:47
  Speaker 1: In fact, I would I tell people, especially people that
• 1:04:50
  Speaker 1: want a nice car, one of the best investments you
• 1:04:53
  Speaker 1: can get is get an electric car. That's about two
• 1:04:56
  Speaker 1: years old, the like electric Porsches, an electric Audi's in particular,
• 1:05:01
  Speaker 1: fucking nobody wants the man, nobody wants to use ones,
• 1:05:04
  Speaker 1: and they're still great. Oh yeah, and like, okay, let's
• 1:05:08
  Speaker 1: look up an Audi e Tron. Look up a twenty
• 1:05:12
  Speaker 1: twenty three Audi e Tron. How much does it cost
• 1:05:15
  Speaker 1: now to buy? And what was it new? I think
• 1:05:19
  Speaker 1: it's like less than fifty percent. So there's certain cars
• 1:05:24
  Speaker 1: where you buy them and they're worth as much a
• 1:05:26
  Speaker 1: couple of years later, like a nice BMW or a Porsche.
• 1:05:29
  Speaker 1: Like you could get an M five, a BMWM five
• 1:05:33
  Speaker 1: and then sell it a year or two later and
• 1:05:35
  Speaker 1: lose very little money if any. You get a fucking
• 1:05:38
  Speaker 1: electric car and you try to sell that bitch in
• 1:05:41
  Speaker 1: a couple of years, like an electric Porsche. Okay, look
• 1:05:43
  Speaker 1: at this twenty twenty two Audi Etron twenty five thousand dollars,
• 1:05:49
  Speaker 1: twenty twenty three Audi e Tron twenty seven thousand dollars.
• 1:05:54
  Speaker 1: Do you know how fucking crazy that is? That is
• 1:05:57
  Speaker 1: a twenty twenty three amazing car. Those cars are fucking incredible.
• 1:06:02
  Speaker 1: It's a technological tour de force. They're fast as shit.
• 1:06:06
  Speaker 1: It's all wheel drive, it's an suv, a Premium plus
• 1:06:11
  Speaker 1: quatro twenty seven thousand dollars. It only has thirty seven
• 1:06:16
  Speaker 1: thousand miles on it. Those things don't have engines like
• 1:06:20
  Speaker 1: a combustion engine. They don't have nearly the econdom maintenance
• 1:06:23
  Speaker 1: that a regular car does. You don't have to change
• 1:06:25
  Speaker 1: the oil. Just plug that bitch in. You have a
• 1:06:28
  Speaker 1: fucking amazing car. Yeah, the battery range is not the longst.
• 1:06:32
  Speaker 2: That's the excuse they use.
• 1:06:34
  Speaker 1: Two hundred and twenty six miles is plenty for you
• 1:06:37
  Speaker 1: to get to work and get home, thank you, and
• 1:06:40
  Speaker 1: go out to dinner and you can plug that bitch in.
• 1:06:42
  Speaker 1: I have a Tesla and it has like it's a
• 1:06:45
  Speaker 1: model S. What does the model ass have three four?
• 1:06:48
  Speaker 3: I can understand this though, this argument that this person
• 1:06:51
  Speaker 3: might not have anywhere than to charge it, that's an issue.
• 1:06:54
  Speaker 2: It's so easy to get in your house now at all.
• 1:06:59
  Speaker 1: Yeah, and if if you go to one of those
• 1:07:01
  Speaker 1: charging stations, you're very vulnerable. If I was a chick,
• 1:07:03
  Speaker 1: I'd never get an electric car if I didn't have
• 1:07:05
  Speaker 1: a house.
• 1:07:06
  Speaker 3: You have to do it every single everything though, every
• 1:07:08
  Speaker 3: station once that's true.
• 1:07:10
  Speaker 1: Something And like how long does it take to charge
• 1:07:13
  Speaker 1: up one of those bitches thirty to forty five minutes,
• 1:07:15
  Speaker 1: so you have to thirty forty minutes every day.
• 1:07:18
  Speaker 2: Uh yeah, that's fair enough.
• 1:07:20
  Speaker 1: That's fair for the getting a fucking bitching car for
• 1:07:23
  Speaker 1: twenty seven grand.
• 1:07:24
  Speaker 2: And more car. More apartment complexes are installing those arching
• 1:07:28
  Speaker 2: stations anyway that you can just leave your car and overnight.
• 1:07:30
  Speaker 3: I live in one, and you can never actually get.
• 1:07:33
  Speaker 1: To the thing. Why is because someone's always in there
• 1:07:35
  Speaker 1: to it and they never move their fucking car, keep
• 1:07:37
  Speaker 1: it playing. I don't know whose it is. You call
• 1:07:39
  Speaker 1: them and yeah, flatten their tires. Don't do that.
• 1:07:42
  Speaker 2: But I try to think of options, because there's even
• 1:07:44
  Speaker 2: the options of the place you work might have one
• 1:07:47
  Speaker 2: right outside my building. There's where we film is multiple
• 1:07:51
  Speaker 2: car charging places park in you gotta work. So I'm
• 1:07:54
  Speaker 2: not saying everyone can do it, but if.
• 1:07:56
  Speaker 1: You can do it, it's a great option.
• 1:07:58
  Speaker 2: But even though you can get used used the gas
• 1:08:00
  Speaker 2: car is for relatively similar but they will defend to
• 1:08:03
  Speaker 2: the death on my show. Having to get a sixty
• 1:08:05
  Speaker 2: thousand dollars large suv and an insane interest rate for
• 1:08:09
  Speaker 2: an eight year loan eight year term crazy but no,
• 1:08:14
  Speaker 2: you asked me, why are they doing it. It's American, baby,
• 1:08:18
  Speaker 2: that's American. That's freedom. You need a car to get
• 1:08:21
  Speaker 2: to your job, and you need a job to get
• 1:08:23
  Speaker 2: to your car. And our culture is built around the
• 1:08:26
  Speaker 2: house and car. Your failure. If you don't get a house,
• 1:08:28
  Speaker 2: you're a failure if you don't get a car. Yeah,
• 1:08:30
  Speaker 2: it is American as it gets.
• 1:08:32
  Speaker 1: That is true, And it is true that people want
• 1:08:35
  Speaker 1: a new one. They want a new one. That's part
• 1:08:38
  Speaker 1: of the status of owning a vehicle. You want to
• 1:08:40
  Speaker 1: be able to say it's twenty twenty six. Looking at
• 1:08:42
  Speaker 1: us these new features.
• 1:08:43
  Speaker 2: It's fun apple karpli. And people actually care what the
• 1:08:46
  Speaker 2: person next to them thinks at the stoplight for some reason.
• 1:08:48
  Speaker 2: I don't know why.
• 1:08:49
  Speaker 1: Yeah, that's a weird one. It's a weird one, but
• 1:08:51
  Speaker 1: we do, and we especially do when we're not doing
• 1:08:54
  Speaker 1: that well. So you want like every single sign that
• 1:08:57
  Speaker 1: shows that you're doing well. You know, a nice wat,
• 1:09:00
  Speaker 1: nice this, a nice that, a bag, whatever it is,
• 1:09:03
  Speaker 1: whatever it is that you need, like a reward for
• 1:09:06
  Speaker 1: this job that sucks.
• 1:09:08
  Speaker 3: Now.
• 1:09:08
  Speaker 2: Oftentimes the poorest people I know are the ones that
• 1:09:10
  Speaker 2: have more souped up nicer cars, and then they have
• 1:09:14
  Speaker 2: a shitty place to live. But they prioritize that because
• 1:09:17
  Speaker 2: it's a wealth symbol. It looks good. Yeah, they get
• 1:09:19
  Speaker 2: the expensive clothes, the flashy items.
• 1:09:21
  Speaker 1: That is true. But if you have money, a car
• 1:09:24
  Speaker 1: is one of the few things that you put money
• 1:09:26
  Speaker 1: into that you actually enjoy. You actually feel it when
• 1:09:29
  Speaker 1: you drive it around it every day. It's exciting, it's fun.
• 1:09:32
  Speaker 2: I just got my Model X. It goes fast, so
• 1:09:34
  Speaker 2: I'm happy.
• 1:09:34
  Speaker 1: Those are great.
• 1:09:35
  Speaker 2: That's it.
• 1:09:36
  Speaker 1: They stop making them.
• 1:09:37
  Speaker 2: I know, it's really sad they stop making the s too.
• 1:09:39
  Speaker 2: I was actually sad that day me too. That was
• 1:09:41
  Speaker 2: a weird thing to get sad about, but I was
• 1:09:43
  Speaker 2: actually sad that day.
• 1:09:44
  Speaker 1: Also. I was sad because I knew it was the
• 1:09:46
  Speaker 1: rise of the robots, because they're using it to make
• 1:09:48
  Speaker 1: these fucking Optimus Prime robots and they're going to be
• 1:09:51
  Speaker 1: flooding the streets everywhere. Yeah.
• 1:09:53
  Speaker 2: I think, I honestly think the Model X is one
• 1:09:55
  Speaker 2: of the best cars ever made.
• 1:09:56
  Speaker 1: Phenomena car thing it dances. Tiffany Hatsch has one, and
• 1:10:00
  Speaker 1: she was in the parking lot of the comedy store
• 1:10:02
  Speaker 1: and the wings go up, you know, and it starts dancing,
• 1:10:04
  Speaker 1: It moves around like this is crazy, Like it actually
• 1:10:07
  Speaker 1: moves to music.
• 1:10:08
  Speaker 2: Now that I have one of the last ones ever made,
• 1:10:10
  Speaker 2: I honestly, fuck man, I really don't know. I don't
• 1:10:14
  Speaker 2: want another car. It's actually really sad.
• 1:10:16
  Speaker 1: Well he told me, Elon told me that's super over engineered.
• 1:10:19
  Speaker 1: He's like, the car is incredible. It's like one of
• 1:10:22
  Speaker 1: the safest cars you could ever drive.
• 1:10:24
  Speaker 2: Well, I guess that's the last one I'll ever get.
• 1:10:26
  Speaker 2: It's a bummer.
• 1:10:28
  Speaker 1: So when you are explaining to these people that a
• 1:10:33
  Speaker 1: car that's just a few years old is just as
• 1:10:35
  Speaker 1: good as a car that's now, does anybody go yeah,
• 1:10:38
  Speaker 1: you're right, or does it like a natural inclination, Like
• 1:10:41
  Speaker 1: is this just this thing that they want, a status
• 1:10:43
  Speaker 1: symbol that's in their head that they needed twenty twenty six.
• 1:10:46
  Speaker 2: People are very defensive on the show. I can convince
• 1:10:49
  Speaker 2: them of smaller things. Getting rid of a car and
• 1:10:52
  Speaker 2: our culture is usually a big thing to overcome. But
• 1:10:55
  Speaker 2: I'll see weeks later that they sat on it, they
• 1:10:58
  Speaker 2: thought about it. Then the video went uploaded and millions
• 1:11:01
  Speaker 2: of people shit all over them in the comments, and
• 1:11:03
  Speaker 2: they're like, Okay, you know maybe I should get rid
• 1:11:05
  Speaker 2: of this car. So some people, actually many people do
• 1:11:09
  Speaker 2: change their perspective on cars. But that's a hard one
• 1:11:12
  Speaker 2: to overcome. Telling them to close a credit card, it's
• 1:11:14
  Speaker 2: kind of easy. Car is a big one. I've told
• 1:11:17
  Speaker 2: people to not get a house, and they're really close
• 1:11:19
  Speaker 2: to getting a house. That's something they will not give
• 1:11:22
  Speaker 2: up because that's another obsession that we have in our country.
• 1:11:24
  Speaker 1: So would you say not get a house today because
• 1:11:26
  Speaker 1: of interest rates?
• 1:11:28
  Speaker 2: They're just interest rates. The overall marketplace s and P
• 1:11:31
  Speaker 2: five hundred. It just beats real estate. Commercial real estate's
• 1:11:34
  Speaker 2: good to get for tax advantages. But the American dream
• 1:11:37
  Speaker 2: isn't owning a home anymore. It's the freedom of renting
• 1:11:40
  Speaker 2: because you can live wherever you want. You can move
• 1:11:41
  Speaker 2: for a job like that. Getting a house, you're stuck
• 1:11:44
  Speaker 2: in a house. It requires a massive amount of money
• 1:11:47
  Speaker 2: for a down payment. And it's just a lack of
• 1:11:50
  Speaker 2: flexibility in a generation in age where people want to
• 1:11:53
  Speaker 2: be more flexible and travel and explore and take new
• 1:11:56
  Speaker 2: jobs everywhere. But it also just doesn't make sense as
• 1:11:59
  Speaker 2: an investment anymore. It doesn't. It used to be the
• 1:12:02
  Speaker 2: defining trade of the middle class and one of the
• 1:12:05
  Speaker 2: largest wealth creating things for the middle class. But now
• 1:12:08
  Speaker 2: with the incredible stock market that we've had over the
• 1:12:11
  Speaker 2: past fifty years or so, it beats it every time.
• 1:12:14
  Speaker 2: If you rent and just put in your money into
• 1:12:17
  Speaker 2: the stock market instead of that down payment on a house,
• 1:12:20
  Speaker 2: with the little extra for a mortgage, you'll win every time.
• 1:12:23
  Speaker 2: And then you get stuck. Let's say you've got the
• 1:12:25
  Speaker 2: good interest rate. Everyone with the good interest rate is
• 1:12:28
  Speaker 2: stuck right now because they're not willing to trade up
• 1:12:30
  Speaker 2: for a house they actually want but with a higher
• 1:12:32
  Speaker 2: interest rate, So homes become like these people's prisons. You
• 1:12:35
  Speaker 2: can buy a home, that's great if you know you're
• 1:12:37
  Speaker 2: gonna stay somewhere and it's what you've ever always wanted,
• 1:12:40
  Speaker 2: there's nothing wrong with doing it, But it is not
• 1:12:45
  Speaker 2: that actually incredible financial thing that has defined America. That
• 1:12:50
  Speaker 2: being said, Americans suck and investing. So if the only
• 1:12:54
  Speaker 2: way for you to invest is put your house in
• 1:12:57
  Speaker 2: a put your money in a house that you literally
• 1:12:59
  Speaker 2: cannot touch, maybe it makes sense because if instead you
• 1:13:02
  Speaker 2: need to put an extra twenty percent of the market
• 1:13:04
  Speaker 2: if you rent, But Americans just want to go spend
• 1:13:06
  Speaker 2: that on a vacation, then maybe you're better off in
• 1:13:09
  Speaker 2: a house because you need that forced investing.
• 1:13:11
  Speaker 1: Yeah, well, a lot of people don't feel they don't
• 1:13:14
  Speaker 1: feel secure unless they own the home. They don't feel
• 1:13:17
  Speaker 1: like settled. This is not really my place. I'm just
• 1:13:19
  Speaker 1: renting it, yeah, which is true.
• 1:13:21
  Speaker 2: But I mean I just told them the fuck off.
• 1:13:23
  Speaker 2: That's your feelings. Yeah, I mean, that is just their feelings, right,
• 1:13:26
  Speaker 2: Like I don't know, math is math in the end
• 1:13:29
  Speaker 2: like I own, but that's because it was very affordable
• 1:13:33
  Speaker 2: for me. It made sense for me. But it doesn't
• 1:13:36
  Speaker 2: have to for everyone, right, And that's okay. In renting,
• 1:13:39
  Speaker 2: you don't have to do maintenance, you don't have to
• 1:13:40
  Speaker 2: get a new roof, you don't have to you know,
• 1:13:42
  Speaker 2: deal with the ac going out and all this stuff.
• 1:13:44
  Speaker 2: If you're renting for especially even like larger corporations, they're
• 1:13:47
  Speaker 2: actually even better to rent for than a mom and
• 1:13:48
  Speaker 2: pa because they'll have someone on standby that'll fix your
• 1:13:51
  Speaker 2: shit overnight or a mom pot landlord. You know, it
• 1:13:54
  Speaker 2: kind of sucks. It might take a couple of weeks.
• 1:13:55
  Speaker 1: Right if they're not good. Yeah, what do you think?
• 1:14:00
  Speaker 1: And you're talking to these young people that are talking
• 1:14:02
  Speaker 1: about their future. What do you think about what's happening
• 1:14:05
  Speaker 1: with AI and the potential for AI to displace jobs?
• 1:14:08
  Speaker 1: And you know these people that are investing their future
• 1:14:11
  Speaker 1: and going to school and getting this job that might
• 1:14:13
  Speaker 1: not even exist.
• 1:14:15
  Speaker 2: Yeah, totally fair. Uh, it's a big fear. So I'm
• 1:14:19
  Speaker 2: going to start this part by saying I don't want
• 1:14:23
  Speaker 2: hundred percent want to listen to anyone that says they
• 1:14:26
  Speaker 2: know what's going to happen, because how can there's the
• 1:14:29
  Speaker 2: doom and glooms that says everyone's job is gonna go away,
• 1:14:31
  Speaker 2: and then there's those that say it's going to create
• 1:14:33
  Speaker 2: a shit ton of new jobs. I don't listen to
• 1:14:35
  Speaker 2: any of them. No one knows what's on the other
• 1:14:36
  Speaker 2: side of the hill of AI, but we do know
• 1:14:38
  Speaker 2: AI is coming, so there is the best things to
• 1:14:41
  Speaker 2: prepare for it. Trades very smart, They've been smart for
• 1:14:45
  Speaker 2: a while, but they're very smart with AI because it's
• 1:14:48
  Speaker 2: probably not coming for an electrician job. Probably not. Degrees
• 1:14:52
  Speaker 2: in general, what degree you get in school has been
• 1:14:56
  Speaker 2: one of the largest and most consequenceial decisions that people
• 1:14:59
  Speaker 2: have been messing up for the past few years, and
• 1:15:01
  Speaker 2: it's actually one of the leading causes for that gender
• 1:15:05
  Speaker 2: wealth divide that is always talked about when compared for
• 1:15:09
  Speaker 2: the same job, same person, same experience, which is never
• 1:15:12
  Speaker 2: compared in that study. It's actually a ninety nine percent
• 1:15:17
  Speaker 2: very similar. But what we see oftentimes, and I feel
• 1:15:20
  Speaker 2: bad for the women in my age with this is
• 1:15:25
  Speaker 2: statistically them they've gone and got lower paying degrees and
• 1:15:31
  Speaker 2: now degrees that are very susceptible to AI, which is
• 1:15:35
  Speaker 2: going to be very damaging for a large group of
• 1:15:37
  Speaker 2: people that are going to push them to become even
• 1:15:38
  Speaker 2: more radical. But women have gone and borrowed a lot
• 1:15:42
  Speaker 2: more money for degrees that provide a lot less return
• 1:15:46
  Speaker 2: on investment, like sociology, psychology, the arts, things like that,
• 1:15:50
  Speaker 2: where you can't maybe even get a job you're going
• 1:15:52
  Speaker 2: to be a barista, or if you are going to
• 1:15:54
  Speaker 2: get a job, it's used to a lower paying job
• 1:15:56
  Speaker 2: where men have gone just we've fallen this thing in
• 1:16:00
  Speaker 2: our society where men have always tried to go to
• 1:16:03
  Speaker 2: that higher income side and give up a job they
• 1:16:05
  Speaker 2: like for it, so they'll go into engineering, the maths
• 1:16:08
  Speaker 2: to sciences even if they don't like it, or the
• 1:16:11
  Speaker 2: trades very labor intensive, and even though AI, you know,
• 1:16:15
  Speaker 2: they're susceptible to some things in tech there it's always
• 1:16:18
  Speaker 2: been higher pain and that's what's made that gender wealth
• 1:16:23
  Speaker 2: gap so heavy. That and then women post birth is
• 1:16:27
  Speaker 2: the second highest leading cause. But when it comes to AI,
• 1:16:31
  Speaker 2: people are already making the mistakes in the degrees they've
• 1:16:33
  Speaker 2: been getting over the last ten years, and now this
• 1:16:35
  Speaker 2: is just going to accelerate that even further. When it
• 1:16:38
  Speaker 2: comes to data entry jobs, things that are super easy
• 1:16:42
  Speaker 2: even unfortunately, who knows if we all all out for therapists,
• 1:16:45
  Speaker 2: but it's getting there pretty quick. People are willing to
• 1:16:47
  Speaker 2: trust AI way more than we thought in these psychology
• 1:16:50
  Speaker 2: degrees and whatnot, writing degrees, things that unfortunately that large
• 1:16:56
  Speaker 2: sector has gotten. It's they're much more susceptible to AI
• 1:17:00
  Speaker 2: and it's going to lead to I think it's going
• 1:17:02
  Speaker 2: to lead to a lot more political radicalization. And that's
• 1:17:04
  Speaker 2: what scares me more than anything. The was it the
• 1:17:10
  Speaker 2: UN on a reputable source said forty percent of global
• 1:17:15
  Speaker 2: jobs are susceptible to being replaced by AI. Now, the
• 1:17:19
  Speaker 2: more developed countries were a little better, it's a little easier,
• 1:17:22
  Speaker 2: but we're talking about those that are doing like customer
• 1:17:24
  Speaker 2: service jobs in India and things like that. That's you know,
• 1:17:27
  Speaker 2: they're going to be damaged heavily. We're gonna be a
• 1:17:29
  Speaker 2: little better in Europe and the United States and Canada, Australia,
• 1:17:34
  Speaker 2: but it's scary, and people need to prepare themselves by
• 1:17:37
  Speaker 2: trying to borrow the least amount possible when they get
• 1:17:41
  Speaker 2: their degree, go to community college if they can, and
• 1:17:45
  Speaker 2: go into something that's more AI resistant, which to me
• 1:17:49
  Speaker 2: is again things like trades, things that need that extra
• 1:17:53
  Speaker 2: creative edge where AI doesn't seem to be able to
• 1:17:56
  Speaker 2: get there yet. Maybe it'll be able to at some point.
• 1:17:59
  Speaker 2: Right now that they're really good going through numbers and stuff,
• 1:18:01
  Speaker 2: but that true creative edge actually coming up with something new.
• 1:18:05
  Speaker 2: That's that's what I think people should be going towards
• 1:18:08
  Speaker 2: in college right now.
• 1:18:08
  Speaker 1: Yeah, I completely agree hold that though I particularly you're good.
• 1:18:12
  Speaker 1: So one question that I have for you is because
• 1:18:14
  Speaker 1: you've got a degree that's not really a good degree
• 1:18:17
  Speaker 1: financially out yeah, well but close. But going to school
• 1:18:20
  Speaker 1: for something that's not viable financially, why do you think,
• 1:18:24
  Speaker 1: in particularly women, why do you think so many of
• 1:18:26
  Speaker 1: them get these degrees in sociology get these degrees and
• 1:18:30
  Speaker 1: gender studies, get these degrees and things that where you're
• 1:18:33
  Speaker 1: you're just not going to be able to make a
• 1:18:35
  Speaker 1: living in what you're going to school for.
• 1:18:38
  Speaker 2: Yeah, I think you can do a lot of good
• 1:18:40
  Speaker 2: in a lot of them. So if you're doing social
• 1:18:43
  Speaker 2: work like that, and nursing actually does pretty well, but
• 1:18:46
  Speaker 2: in that a lower paid part of medical, you know
• 1:18:50
  Speaker 2: you're doing a lot of good. We spent a lot
• 1:18:54
  Speaker 2: of decades doing trying to really fix the percentage of
• 1:18:59
  Speaker 2: college we were having, like men, men, men, men. All
• 1:19:03
  Speaker 2: it was only men going to college, and we put
• 1:19:05
  Speaker 2: a lot of effort into women going to college a
• 1:19:08
  Speaker 2: bit more to catch up, which is fair.
• 1:19:10
  Speaker 1: That was good.
• 1:19:10
  Speaker 2: I am for that, But once they got there, just
• 1:19:16
  Speaker 2: fuck why they're doing it. It's harder to say, but
• 1:19:19
  Speaker 2: they definitely do more gravitate as a cohort towards those
• 1:19:23
  Speaker 2: lower paying degrees like psychology and whatnot. And I don't know,
• 1:19:26
  Speaker 2: men just go to the higher paying degrees. I don't
• 1:19:28
  Speaker 2: know if it's just something in our culture where men
• 1:19:30
  Speaker 2: feel like they need to be a breadwinner or whatnot.
• 1:19:32
  Speaker 1: Yeah, that's what I'm wondering. If that's what it is,
• 1:19:35
  Speaker 1: the need to be a provider into thinking, what, these
• 1:19:38
  Speaker 1: low paying jobs are not going to be able to
• 1:19:40
  Speaker 1: give me any money?
• 1:19:41
  Speaker 2: Yeah, how am I going to provide?
• 1:19:42
  Speaker 1: How am I going to have a family? How am
• 1:19:44
  Speaker 1: I going to pay the bills?
• 1:19:46
  Speaker 2: Yeah? Were Now men are starting to kind of fall
• 1:19:49
  Speaker 2: off that platform though.
• 1:19:51
  Speaker 1: Yeah.
• 1:19:51
  Speaker 2: I don't know if you've been watching the trends, but
• 1:19:53
  Speaker 2: now it's closer to like sixty sixty five percent of
• 1:19:57
  Speaker 2: new degree holders of women and men are just going
• 1:20:00
  Speaker 2: to college anymore.
• 1:20:02
  Speaker 1: There is some of them.
• 1:20:04
  Speaker 2: It's pretty crazy. It's like sixty or sixty five percent. Wow,
• 1:20:08
  Speaker 2: it's getting it's getting pretty intense, and.
• 1:20:11
  Speaker 1: Well, what are men doing instead?
• 1:20:13
  Speaker 2: There's a lot of losers. There are a lot of
• 1:20:15
  Speaker 2: losers where they're not getting any education, they're not looking
• 1:20:20
  Speaker 2: for any kind of job, they're not even collecting unemployment.
• 1:20:22
  Speaker 2: They're literally just sitting on their ass. That is a
• 1:20:24
  Speaker 2: big cohort of people right now. What's the cause of that?
• 1:20:29
  Speaker 1: Well?
• 1:20:30
  Speaker 2: Fuck, there is a lot of the red pill victim mentality.
• 1:20:33
  Speaker 2: I don't know if I want to fully enable it,
• 1:20:36
  Speaker 2: but I mean maybe there's some justification a little bit.
• 1:20:39
  Speaker 2: But they think that everything's against them. They think that
• 1:20:42
  Speaker 2: DEI specifically was preventing them from going to work and
• 1:20:46
  Speaker 2: preventing them from going to school that school's politically captured.
• 1:20:52
  Speaker 2: There's a survey downe that of people that were choosing
• 1:20:54
  Speaker 2: not to go to college, thirty percent said that it's
• 1:20:57
  Speaker 2: because thirty or forty percent said it's because college is
• 1:21:00
  Speaker 2: becoming too politicallyly captured. So there is that. Then they
• 1:21:06
  Speaker 2: don't have jobs, they don't have skills, they don't have experience,
• 1:21:09
  Speaker 2: so it's harder to get a job. Casiers just kind
• 1:21:12
  Speaker 2: of sit at mom's home, play video games, do drugs.
• 1:21:16
  Speaker 1: Jesus, that's bleak.
• 1:21:18
  Speaker 2: It's bleak. And the gender wars are horrendous right now.
• 1:21:22
  Speaker 2: I don't know if you see any of it online,
• 1:21:23
  Speaker 2: but the gender.
• 1:21:24
  Speaker 1: Wars are the gender wars.
• 1:21:26
  Speaker 2: Oh yeah, young women just being so anti men and
• 1:21:29
  Speaker 2: young men being so anti women and cheering against each other.
• 1:21:33
  Speaker 2: It's horrible. It is horrible, like uniquely new, like this
• 1:21:39
  Speaker 2: is much more than ever before.
• 1:21:41
  Speaker 1: What do you think is causing that?
• 1:21:44
  Speaker 2: A lot of it started twenty sixteen election. They got
• 1:21:48
  Speaker 2: a lot of women got very angry that Trump was elected,
• 1:21:51
  Speaker 2: and they followed something that happened in South Korea as well,
• 1:21:55
  Speaker 2: where the women said no men, no dating, no sex.
• 1:22:00
  Speaker 2: There was a term for it, but they were just
• 1:22:02
  Speaker 2: they cut off everything. And there was a little little
• 1:22:04
  Speaker 2: bit of that movement after the twenty sixteen election here
• 1:22:06
  Speaker 2: in the United States as well, and then it gained
• 1:22:09
  Speaker 2: as much traction. But this is very divisive, and it
• 1:22:12
  Speaker 2: goes back to the algorithm that we were talking about
• 1:22:14
  Speaker 2: earlier as well. A lot of people get put in
• 1:22:19
  Speaker 2: those echo chambers where you know, you need to have
• 1:22:21
  Speaker 2: a villain, and the men are the villain, or the
• 1:22:24
  Speaker 2: women are the villain. The women are the reason men
• 1:22:26
  Speaker 2: aren't doing well. The men are the reason women aren't
• 1:22:28
  Speaker 2: doing well. The men have been holding us back forever.
• 1:22:32
  Speaker 2: They've been, you know, keeping us in the kitchen and
• 1:22:34
  Speaker 2: everything like that.
• 1:22:36
  Speaker 1: The four B movement women boycotting men, anti men movement
• 1:22:41
  Speaker 1: four B movement is a radical feminist rebellion that emerged
• 1:22:43
  Speaker 1: around twenty fifteen. It's named after four Korean terms starting
• 1:22:48
  Speaker 1: with b I meaning no b hon, no heterosexual marriage,
• 1:22:53
  Speaker 1: b cholsen, no childbirth beyond a, no dating men, be
• 1:23:00
  Speaker 1: sec you, no sexual relations with men okay. Participants argue
• 1:23:07
  Speaker 1: this is not about miss injury, but rather a drastic
• 1:23:10
  Speaker 1: method to opt out of an intensely patriarchal society and
• 1:23:13
  Speaker 1: protect themselves from gender based violence such as digital sex crimes, spycams,
• 1:23:18
  Speaker 1: and workplace discrimination.
• 1:23:21
  Speaker 2: So it picked up some pretty big steme here in
• 1:23:23
  Speaker 2: the United States after twenty sixteen.
• 1:23:25
  Speaker 1: But I gotta think that everyone who's saying no dating
• 1:23:27
  Speaker 1: men and no sexual relationships with men isn't attractive.
• 1:23:33
  Speaker 2: Probably not. But sexlessness among young people is so high
• 1:23:38
  Speaker 2: compared to any other generation.
• 1:23:39
  Speaker 1: Right, very high, very high virgin rate, which is really odd.
• 1:23:42
  Speaker 1: We're finding a lot and a lot of them like
• 1:23:44
  Speaker 1: identify as Christian and that's the reason why they're saying
• 1:23:47
  Speaker 1: or Catholic. This is the reason why they're saying they're virgin.
• 1:23:49
  Speaker 1: And I'm like, what's happening. You don't get horny? What
• 1:23:52
  Speaker 1: are you doing? You don't like people.
• 1:23:54
  Speaker 2: I've got a lot of people on my show say
• 1:23:56
  Speaker 2: they want to have sex but can't have sex. M
• 1:23:58
  Speaker 2: So I guess they haven't use that cope, the religious cope.
• 1:24:01
  Speaker 2: But I don't know. But that's another example of the radicalization.
• 1:24:06
  Speaker 2: So they just they blame each other, like, Okay, Trump
• 1:24:10
  Speaker 2: got elected. Many of the women in this country that
• 1:24:12
  Speaker 2: lead to the left didn't like it, so they got
• 1:24:13
  Speaker 2: very upset. They blamed the men for electing him, men
• 1:24:16
  Speaker 2: blame women, you know, de I policies, which, yeah, there
• 1:24:19
  Speaker 2: are things that complain about it. I do get it,
• 1:24:21
  Speaker 2: like on both sides probably, but they've just gone so extreme.
• 1:24:24
  Speaker 2: So there's a gender war right now where it's just
• 1:24:27
  Speaker 2: trying to nuke the other side.
• 1:24:28
  Speaker 1: And does this spill over into real life as much?
• 1:24:31
  Speaker 1: Or is this a lot of people that spend way
• 1:24:33
  Speaker 1: too much time on the internet already?
• 1:24:34
  Speaker 2: Definitely more that than anything. Definitely more of that. But
• 1:24:39
  Speaker 2: the unfortunate real life consequences lead to that loneliness online
• 1:24:44
  Speaker 2: because the real life consequence is that people are staying
• 1:24:46
  Speaker 2: inside and on screens and more lonely than ever. So
• 1:24:49
  Speaker 2: that's the real life impact. You know, they're not going
• 1:24:51
  Speaker 2: out and talking about the four B movement on the
• 1:24:53
  Speaker 2: corner of the street, but instead of going out like
• 1:24:57
  Speaker 2: they used to and having more friends, they're sitting insight
• 1:25:00
  Speaker 2: and complaining about it on Reddit. So that is the
• 1:25:04
  Speaker 2: real life consequences it becomes online.
• 1:25:06
  Speaker 1: Yeah, it's just so strange that these people don't recognize
• 1:25:12
  Speaker 1: that you have a finite time to exist and you're
• 1:25:14
  Speaker 1: spending all your time like captured in these like fucking
• 1:25:18
  Speaker 1: stupid echo chambers.
• 1:25:19
  Speaker 2: It feels good to be a victim though, because everyone
• 1:25:21
  Speaker 2: online that is in your little ecosystem, they give you
• 1:25:25
  Speaker 2: the thumbs up. They make you feel reassured.
• 1:25:28
  Speaker 1: It complaining is exciting. People do love to complain. Yeah,
• 1:25:32
  Speaker 1: it excites you. It gets you going, fucking fucking name.
• 1:25:37
  Speaker 3: Whether this is accurate. I think this gives a little
• 1:25:40
  Speaker 3: insight into the Korean four B movement. This is a
• 1:25:42
  Speaker 3: post on Reddit from two years ago, but this paragraph here.
• 1:25:47
  Speaker 1: Is oh about Korea. Yeah, yeah, So we're talking about
• 1:25:50
  Speaker 1: a country where a women's career could be jeopardized for
• 1:25:52
  Speaker 1: something as innocuous as wearing a T shirt that reads
• 1:25:54
  Speaker 1: girls Don't need a Prince, or for liking a women's
• 1:25:58
  Speaker 1: March post on Twitter, even if it was seven years ago.
• 1:26:00
  Speaker 1: I'm not exaggerating. Incidents like this have occurred, and recently,
• 1:26:03
  Speaker 1: as recently as last year. We're talking about literal termination
• 1:26:06
  Speaker 1: of a contract due to a heart made on a
• 1:26:09
  Speaker 1: post regarding women's safety issues on Twitter dating back to
• 1:26:13
  Speaker 1: seven or more years ago, due to inceell gamers throwing
• 1:26:17
  Speaker 1: a fit. So they have an inceel problem in Korea too.
• 1:26:20
  Speaker 1: A lot of also low replacement rate, Like it's.
• 1:26:24
  Speaker 2: Worst in the world.
• 1:26:25
  Speaker 1: Yeah, Korea is really bad. Is it the worst?
• 1:26:27
  Speaker 2: It's worth worse than the world will collapse within a
• 1:26:30
  Speaker 2: few decades. Yeah, but at the end of the century.
• 1:26:32
  Speaker 2: Oh yeah, yeah, South Grade is done. But no, it's true.
• 1:26:36
  Speaker 2: And like I said, like there there are valid logics
• 1:26:40
  Speaker 2: to it. I'm not saying like, uh, everyone's just doing
• 1:26:43
  Speaker 2: it inherently to be evil. But if your outcome is
• 1:26:46
  Speaker 2: to become radicalized, then to something like the four B movement.
• 1:26:50
  Speaker 2: No one should be fired from where an addresser like
• 1:26:51
  Speaker 2: in a post right you know, it's crazy, But to
• 1:26:54
  Speaker 2: become radicalized and start this thing where it divides the
• 1:26:57
  Speaker 2: genders because we have more political division and are low
• 1:27:00
  Speaker 2: and are in the gen Z gender than any other
• 1:27:03
  Speaker 2: generation or religious division, it's crazy. And to fuel that
• 1:27:08
  Speaker 2: because things have been not perfect.
• 1:27:10
  Speaker 1: So when you say political divisions, so is it that
• 1:27:13
  Speaker 1: young men are going to the right and young women
• 1:27:15
  Speaker 1: are going to the left? Is that what it is? Yeah?
• 1:27:17
  Speaker 2: When you do when they've done tracking and pulling of
• 1:27:20
  Speaker 2: post election results in who how people have voted, age groups,
• 1:27:24
  Speaker 2: and gender groups, they've seen that men have moved to
• 1:27:26
  Speaker 2: the right, a little bit, but women dramatically since twenty
• 1:27:31
  Speaker 2: sixteen have moved to the pretty far left. Young women,
• 1:27:35
  Speaker 2: not millennial or Gen X or boomer women especially, but
• 1:27:40
  Speaker 2: Gen Z women have moved very far to the left.
• 1:27:44
  Speaker 1: I wonder what changes, if anything, in that when women
• 1:27:47
  Speaker 1: have children, because one of the things that I found
• 1:27:50
  Speaker 1: is that my friends who wound up having children, my
• 1:27:53
  Speaker 1: female friends, they almost all started moving to the right.
• 1:27:57
  Speaker 1: It almost starts all recognize I seeing that there's like
• 1:28:00
  Speaker 1: real safety issues, there's real crime issues. They're wondering where
• 1:28:04
  Speaker 1: their tax money goes. They see corruption and fraud, things
• 1:28:07
  Speaker 1: that they never really talked about at all when they
• 1:28:10
  Speaker 1: were single and didn't have a child. But as soon
• 1:28:12
  Speaker 1: as you get married, as soon as they have children,
• 1:28:14
  Speaker 1: then they start going, hey, fuck this place, you know
• 1:28:17
  Speaker 1: they like. So many of them wind up moving out
• 1:28:19
  Speaker 1: of la right after they had children, and so many
• 1:28:22
  Speaker 1: of them started moving into a different sort of ideology.
• 1:28:27
  Speaker 2: Well, people have to get married and have kids for
• 1:28:29
  Speaker 2: that to happen. And we just hit our lowest birth
• 1:28:31
  Speaker 2: rate in the United States.
• 1:28:33
  Speaker 1: Is it the lowest ever replacement rate?
• 1:28:35
  Speaker 2: Yeah, if I'm not mistaken, Yeah, it was before the
• 1:28:37
  Speaker 2: last time we had actual replacement rate was before the
• 1:28:41
  Speaker 2: Great Recession and ever since, sence has gone off a cliff.
• 1:28:43
  Speaker 1: That's why we need immigrants.
• 1:28:45
  Speaker 2: Well, I mean, yes, well we do need some immigration
• 1:28:51
  Speaker 2: because we need to do a growing population, because you
• 1:28:54
  Speaker 2: don't want to be like like South Korea or Japan.
• 1:28:57
  Speaker 2: You can't have a collapsing because you use the argument no, sorry,
• 1:29:03
  Speaker 2: not you. But if people could use the argument, they'll
• 1:29:05
  Speaker 2: destroy our culture if we let in all these immigrants.
• 1:29:07
  Speaker 2: And yes, of course that would happen if you just
• 1:29:08
  Speaker 2: let anyone in, no matter what, uncontrolled. Sure, South Grade
• 1:29:12
  Speaker 2: is also going to lose their culture because their population
• 1:29:14
  Speaker 2: will not exist by the end of the century. So
• 1:29:17
  Speaker 2: there's multiple ways to lose a culture. But I'm a
• 1:29:21
  Speaker 2: big proponent of selective, high skilled, good proportional immigration, and
• 1:29:26
  Speaker 2: I think, honestly, I think that's the more bipartisan issue.
• 1:29:29
  Speaker 2: That's where like Bill Clinton was in the nineties and whatnot.
• 1:29:32
  Speaker 2: So I think that's fair. Open borders is fucking crazy.
• 1:29:36
  Speaker 2: I don't know what was going on. I don't I
• 1:29:38
  Speaker 2: didn't even realize what was going on.
• 1:29:39
  Speaker 1: It's nuts. I have friends that were down there that
• 1:29:42
  Speaker 1: went to the border and then say you have to
• 1:29:44
  Speaker 1: come to understand it, you have to see it. It's
• 1:29:46
  Speaker 1: fucking insane. Like you see the numbers of people coming across, Like,
• 1:29:49
  Speaker 1: how is this real? Yeah, they just no vetting right
• 1:29:53
  Speaker 1: into the country.
• 1:29:54
  Speaker 2: We Yeah. So I'm on an economic issue because I
• 1:29:59
  Speaker 2: always go by to economics. I don't get as fired
• 1:30:01
  Speaker 2: up about the social stuff. But I do like some
• 1:30:04
  Speaker 2: kind of immigration. For sure. Some people are like completely
• 1:30:06
  Speaker 2: anti immigration, but I like some kind of immigration because
• 1:30:09
  Speaker 2: we do need a growing job pool, specifically to maintaining
• 1:30:14
  Speaker 2: the economy so that people my age can retire. If
• 1:30:18
  Speaker 2: the dependency ratio of every person not working for every
• 1:30:21
  Speaker 2: working person is getting close to one for one in
• 1:30:25
  Speaker 2: South Korea, in the United States, when we implemented social Security,
• 1:30:29
  Speaker 2: its closer to like sixty to one. Now the United
• 1:30:31
  Speaker 2: States is like it's like five or ten to one.
• 1:30:35
  Speaker 2: It's going in the wrong direction. And if for every
• 1:30:37
  Speaker 2: one working person you have one person not working, the
• 1:30:40
  Speaker 2: whole system breaks. And that's what we're starting to see
• 1:30:42
  Speaker 2: in places like South Korea. So we can't become this.
• 1:30:45
  Speaker 2: So if people aren't fucking people aren't making babies, you
• 1:30:48
  Speaker 2: got to bring some people in. But selective high skill
• 1:30:52
  Speaker 2: what gets scary is if you start fucking up in
• 1:30:55
  Speaker 2: the economy enough with really bad policies, you get brain
• 1:30:58
  Speaker 2: drain and then immigration. So you see what happens in Italy, Spain,
• 1:31:02
  Speaker 2: the United Kingdom.
• 1:31:03
  Speaker 1: Brain drain.
• 1:31:04
  Speaker 2: Yeah, educated people they're born there typically or they even
• 1:31:09
  Speaker 2: emmigrate there, and they become very educated. They're the ones
• 1:31:12
  Speaker 2: that are going to contribute to the tax space, create jobs,
• 1:31:17
  Speaker 2: do higher skill jobs, great doctors, everythings like that. But
• 1:31:21
  Speaker 2: they look around them, the economic policies have failed, so
• 1:31:23
  Speaker 2: they come to the United States and then there's only
• 1:31:27
  Speaker 2: the immigrants that have come in that aren't able to
• 1:31:30
  Speaker 2: replace that brain because they come from somewhere where no
• 1:31:33
  Speaker 2: fault of their own is just less educated, so they
• 1:31:37
  Speaker 2: aren't able to contribute to that tax space. We're actually
• 1:31:39
  Speaker 2: starting to see something similar in LA right now with
• 1:31:42
  Speaker 2: the wealth flight and brain drain. Though the net migration
• 1:31:47
  Speaker 2: in LA is not looking the absolute worst people that
• 1:31:50
  Speaker 2: were contributing there moving away and providing to the tax
• 1:31:54
  Speaker 2: space versus people that are coming in and aren't being
• 1:31:57
  Speaker 2: true net contributors is becoming horrendous and they're looking at
• 1:32:01
  Speaker 2: like a billion dollar deficet coming up pretty soon for
• 1:32:04
  Speaker 2: the city of La it becomes very scary. So that's
• 1:32:07
  Speaker 2: why I rail against performative policies, because I don't want
• 1:32:10
  Speaker 2: to end up like a place like the UK would
• 1:32:12
  Speaker 2: rank fifty first out of all fifty states, by the way,
• 1:32:15
  Speaker 2: in terms of GDP per capita, which is absolutely crazy
• 1:32:20
  Speaker 2: worse than Mississippi, you know. And then if you're having immigration,
• 1:32:26
  Speaker 2: well that's happening. All you have left is just that,
• 1:32:29
  Speaker 2: just that, and all your high skilled people went somewhere else.
• 1:32:32
  Speaker 2: Same things happening in Canada. They become educated in Canada
• 1:32:35
  Speaker 2: and they go down to Silicon Valley for a high
• 1:32:37
  Speaker 2: paying job because they don't pay as well in Canada.
• 1:32:40
  Speaker 2: But if we start reversing that with bad policies, you
• 1:32:43
  Speaker 2: start looking a little more like La and their budget's
• 1:32:46
  Speaker 2: not looking really good.
• 1:32:48
  Speaker 1: It's interesting how pragmatic financial discussions are problematic, Like people
• 1:32:54
  Speaker 1: don't like it and they look at it and like
• 1:32:57
  Speaker 1: you're just you're not talking really even about politics, just
• 1:33:00
  Speaker 1: talking about pragmatic decisions in terms of like how do
• 1:33:03
  Speaker 1: you invest your money, how to save your money, how
• 1:33:05
  Speaker 1: to do that? That becomes right wing. Oh yeah, that
• 1:33:08
  Speaker 1: becomes somehow another cruel. It's like categorized in that way
• 1:33:12
  Speaker 1: as heartless.
• 1:33:14
  Speaker 2: Yeah, people will clip that last moment and sam anti immigrants,
• 1:33:17
  Speaker 2: like that's gonna happen, But it's not. It's this literal
• 1:33:20
  Speaker 2: economic theory that we're seeing in the real world right
• 1:33:24
  Speaker 2: now that's tracked and trackable. The Labor Party acknowledges the
• 1:33:28
  Speaker 2: left wing Labor Party in the United Kingdom acknowledges the
• 1:33:31
  Speaker 2: wealth flight and brain drain. This isn't a right wing position.
• 1:33:35
  Speaker 2: This is just reality.
• 1:33:37
  Speaker 1: It's interesting though that people like in general don't think
• 1:33:41
  Speaker 1: of it that way. People in general think of it,
• 1:33:44
  Speaker 1: like someone who discussed as finances, someone's like very financially
• 1:33:48
  Speaker 1: is to it, gives pragmatic advice. That's a conservative person.
• 1:33:51
  Speaker 1: That's a bad person.
• 1:33:52
  Speaker 2: They do think. So I am right wing coded. It
• 1:33:55
  Speaker 2: is something I see a lot right ring coded, or
• 1:33:58
  Speaker 2: my vibe is off well because personal responsibility, Yeah, but what.
• 1:34:03
  Speaker 1: Do you think Why do you think personal responsibility is
• 1:34:07
  Speaker 1: thought of that way? Is it because people cherish this
• 1:34:10
  Speaker 1: idea that they're a victim and they hold on to it.
• 1:34:13
  Speaker 1: That's part of their identity. And if you challenge that
• 1:34:15
  Speaker 1: and say no, some of this is your fault, then
• 1:34:19
  Speaker 1: you're being cruel, being you're a sociopath, you're a fascist.
• 1:34:24
  Speaker 2: There's a large group of people that want people like
• 1:34:26
  Speaker 2: me or Dave Ramsey to just give them a hug
• 1:34:30
  Speaker 2: and then complain about the systemic issues that got there
• 1:34:32
  Speaker 2: and there in the first place, you can vote, that's great,
• 1:34:36
  Speaker 2: Go vote for a policy change, wonderful. But you do
• 1:34:39
  Speaker 2: have a little bit of agency, and I'm not going
• 1:34:41
  Speaker 2: to talk to you about what policy you should vote for,
• 1:34:43
  Speaker 2: because that's what we're going to require millions of people
• 1:34:45
  Speaker 2: to overdo a system that you don't like. What you
• 1:34:48
  Speaker 2: do have control on right now is whether or not
• 1:34:50
  Speaker 2: you swipe the card somewhere, whether or not you get
• 1:34:53
  Speaker 2: a high interest rate credit card, or get a bullshit
• 1:34:55
  Speaker 2: degree from a private institution out of state. You have
• 1:34:58
  Speaker 2: those controls right now, and they don't like that. One
• 1:35:03
  Speaker 2: of the biggest complaints that people like me and Dave
• 1:35:05
  Speaker 2: Ramsey get is why aren't you talking about the system
• 1:35:07
  Speaker 2: that got you there? But that's not the conversation. It
• 1:35:11
  Speaker 2: isn't It's a one on one personal financial conversation. Let
• 1:35:16
  Speaker 2: those people fix their lives. Budget Budge. That's why I
• 1:35:19
  Speaker 2: made a budgeting app. Dollar Wise, by the way, is
• 1:35:21
  Speaker 2: for that kind of thing. I made a budgeting app
• 1:35:24
  Speaker 2: called dollar wise with my team. It's called dollar wise
• 1:35:27
  Speaker 2: Dollar dollar Wise. Yeah, so the average person can actually
• 1:35:32
  Speaker 2: budget and take some personal responsibility instead of just falling
• 1:35:35
  Speaker 2: on the victim mindset.
• 1:35:37
  Speaker 1: So this app, what do you do? You put in
• 1:35:39
  Speaker 1: your income, you put in your bills? Yeah.
• 1:35:42
  Speaker 2: Yeah, it's that automatic account connections through multiple different services,
• 1:35:47
  Speaker 2: so you get your accounts connected and you get to
• 1:35:49
  Speaker 2: immediate insights that show where your money's going, what you
• 1:35:53
  Speaker 2: can do to actually improve your life, and the steps
• 1:35:56
  Speaker 2: you need to take it. They fully guides you in
• 1:35:58
  Speaker 2: that process.
• 1:36:00
  Speaker 1: Motivated to do this just based on these conversations you've
• 1:36:02
  Speaker 1: had with people that don't know what the fuck to do.
• 1:36:04
  Speaker 2: That and to make a shit ton of money. But
• 1:36:06
  Speaker 2: both both have worked pretty well. But yes, which is funny.
• 1:36:10
  Speaker 1: You're making a shit ton of money by people that
• 1:36:11
  Speaker 1: can't figure out how to save money. Yeah.
• 1:36:13
  Speaker 2: But if hey, if they make more money because they
• 1:36:15
  Speaker 2: save money and I make more money, that's capitalism.
• 1:36:17
  Speaker 1: It's a value.
• 1:36:18
  Speaker 2: Yeah, exactly, you're pale. No, I mean that's the point,
• 1:36:21
  Speaker 2: Like I used, did you ever use Mint?
• 1:36:24
  Speaker 3: No?
• 1:36:24
  Speaker 2: You remember Mint? Okay, So it was a big budgeting
• 1:36:26
  Speaker 2: app a long time ago, but for some reason, the
• 1:36:28
  Speaker 2: service that bought it shut it down, and that's what
• 1:36:31
  Speaker 2: everyone was using. But even then I remember stopped using it.
• 1:36:34
  Speaker 2: Like many people, most people fall off of budgeting apps
• 1:36:37
  Speaker 2: because they're just burdensome. It takes a long time to
• 1:36:40
  Speaker 2: figure out the systems, and they're just over engineered for
• 1:36:43
  Speaker 2: the personal finance nerd that loves every little detail, so
• 1:36:46
  Speaker 2: the average person doesn't do it. So we just built
• 1:36:48
  Speaker 2: something simple that just shows people immediately where their money's
• 1:36:51
  Speaker 2: going and what they need to do to change. So
• 1:36:54
  Speaker 2: that's what we focused on when we, you know, engineered
• 1:36:56
  Speaker 2: this thing.
• 1:36:57
  Speaker 1: And so when you're all these conversations with all these
• 1:37:01
  Speaker 1: different people that are like these terrible budgets doing a
• 1:37:05
  Speaker 1: terrible job of taking care of themselves, do you ever
• 1:37:08
  Speaker 1: get this feeling like that you're not helping, Like this
• 1:37:11
  Speaker 1: is like an insurmountable problem. You're sticking your finger in
• 1:37:14
  Speaker 1: a dam and there's a fucking million leaks and this
• 1:37:17
  Speaker 1: is is not gonna work.
• 1:37:19
  Speaker 2: To a certain extent. Yes, Luckily in the United States,
• 1:37:22
  Speaker 2: we have some tools that help. So if someone's in
• 1:37:26
  Speaker 2: that situation where the dam's about the burst, everything's about
• 1:37:28
  Speaker 2: to blow up. They can go through bankruptcy, but bankruptcy
• 1:37:32
  Speaker 2: does not make sense, and this is what a lot
• 1:37:34
  Speaker 2: of people mess up. Bankruptcy doesn't make sense unless you
• 1:37:37
  Speaker 2: actually change the behavior that got you there in the
• 1:37:39
  Speaker 2: first place. Because we've had people that have come on
• 1:37:42
  Speaker 2: my show that have been through bankruptcy twice and now
• 1:37:45
  Speaker 2: we're there again. It makes no sense. You can get
• 1:37:48
  Speaker 2: rid of the damn, you can get rid of it
• 1:37:49
  Speaker 2: by bankruptcy, but you're gonna build up that thing to
• 1:37:52
  Speaker 2: explode again if you don't actually fix the behavior. So
• 1:37:54
  Speaker 2: people take shortcuts through credit card consolidation, debt consolidation, personal loans,
• 1:37:59
  Speaker 2: all that good stuff. Those are good tools, but if
• 1:38:02
  Speaker 2: people don't actually fix their behavior first, they're gonna fuck
• 1:38:06
  Speaker 2: it up. So Dave Ramsey is vehemently against debt consolidation
• 1:38:11
  Speaker 2: for a reason that is fair. I don't like being
• 1:38:14
  Speaker 2: anti something because personal finances is personal. But this is
• 1:38:19
  Speaker 2: his argument, and it's kind of fair. You build up
• 1:38:21
  Speaker 2: this much in credit card debt from here to hear,
• 1:38:23
  Speaker 2: and then you can consolidate it into this new debt.
• 1:38:26
  Speaker 2: So this is one new debt that consolidated this down
• 1:38:28
  Speaker 2: to zero. But now what happens is the credit card
• 1:38:31
  Speaker 2: limit is still all the way up there, so people
• 1:38:33
  Speaker 2: now have this debt, and then without changing their behavior,
• 1:38:36
  Speaker 2: they build the credit cards back to here, so now
• 1:38:37
  Speaker 2: you have double the debt. That's the issue with debt
• 1:38:40
  Speaker 2: consolidations and not changing the behavior. So his philosophy is correct,
• 1:38:43
  Speaker 2: But what we try to teach people on my show
• 1:38:46
  Speaker 2: is that change the behavior that got you in that
• 1:38:49
  Speaker 2: first stack in the first place. And if you can
• 1:38:52
  Speaker 2: prove that you can follow a budget for a few months,
• 1:38:54
  Speaker 2: then you can take that shortcut by consolidating and then
• 1:38:57
  Speaker 2: probably just close the cards so you can't use them.
• 1:39:00
  Speaker 2: And the same thing applies for bankruptcy. So that's why
• 1:39:02
  Speaker 2: our show's simple stuff. You just fix the spending, you
• 1:39:06
  Speaker 2: get it under control, you'll live in Even Elizabeth's Warren's
• 1:39:10
  Speaker 2: fifty thirty twenty, she's the one that pioneered fifty thirty twenty,
• 1:39:13
  Speaker 2: which is fifty percent on needs, thirty percent on once,
• 1:39:17
  Speaker 2: twenty percent on savings. That's Elizabeth's Warren's rule, and she's
• 1:39:20
  Speaker 2: relatively correct on that doesn't apply to everywhere like La
• 1:39:24
  Speaker 2: New York, of course, but if you can follow that
• 1:39:27
  Speaker 2: and prove you do it, for a few months. Then
• 1:39:29
  Speaker 2: you can go through bankruptcy. You can use a personal alone,
• 1:39:32
  Speaker 2: and that solves the damn issue. That solves the bigger issue.
• 1:39:36
  Speaker 1: Yeah, the changing your behavior thing is very hard for people,
• 1:39:39
  Speaker 1: it is. And it's also very hard for people when
• 1:39:41
  Speaker 1: that spending of the money is the only reward you
• 1:39:44
  Speaker 1: get for a job you hate.
• 1:39:46
  Speaker 2: Yeah, it is. And I'm the one talking to them,
• 1:39:48
  Speaker 2: and I'm a fat fuck so like I get it,
• 1:39:50
  Speaker 2: Like I haven't, you know, fully taken control my health
• 1:39:55
  Speaker 2: behaviors and eating behaviors. So I know that it's hard
• 1:39:59
  Speaker 2: to fix it. But oftentimes the people on my show,
• 1:40:02
  Speaker 2: I've been in the exact same situation I was when
• 1:40:05
  Speaker 2: I was twenty twenty one, and I've seen what it's
• 1:40:09
  Speaker 2: like on the other side, just like many people in
• 1:40:11
  Speaker 2: your position have seeing what it's like on the health.
• 1:40:13
  Speaker 2: The health on the other side, you know how good
• 1:40:16
  Speaker 2: it is, so you want other people to do it.
• 1:40:17
  Speaker 2: And since I've been through that personal finance side and
• 1:40:21
  Speaker 2: gone through the work, I can at least help hold
• 1:40:23
  Speaker 2: people's hands and show them what it's like to go
• 1:40:28
  Speaker 2: to the other side of that tunnel to put in
• 1:40:29
  Speaker 2: the work. The temporary sacrifice of a few years and
• 1:40:33
  Speaker 2: really live the rest of your life in such a
• 1:40:35
  Speaker 2: better way.
• 1:40:37
  Speaker 1: Yeah, it's just changing behavior requires a change in perspective,
• 1:40:42
  Speaker 1: and it requires something. And for some people they have
• 1:40:45
  Speaker 1: to hit rock bottom, or they have to have some
• 1:40:47
  Speaker 1: you know, they have a birth of a child, like
• 1:40:49
  Speaker 1: something rocks them into reality and they go, whatever the
• 1:40:52
  Speaker 1: fuck I'm doing right now, it's not the right path.
• 1:40:55
  Speaker 1: But it's just so hard for people when they're playing
• 1:40:58
  Speaker 1: this blame game and they look at successful, wealthy people
• 1:41:01
  Speaker 1: as being the problem. We'll get Jeff Bezos a is
• 1:41:03
  Speaker 1: fucking yacht Like, that's nothing to do with you. It's
• 1:41:06
  Speaker 1: not why you're broke, and you should look at him
• 1:41:09
  Speaker 1: and go, how the fuck did he do that? How
• 1:41:11
  Speaker 1: can I do that? I want a yacht. Fuck it,
• 1:41:13
  Speaker 1: let's go. But no one's doing that. They're instead deciding
• 1:41:17
  Speaker 1: that they're a victim, deciding that the game is rigged,
• 1:41:21
  Speaker 1: deciding that there's a cap on their ability. But meanwhile,
• 1:41:25
  Speaker 1: this is if there's any place on Earth where you
• 1:41:28
  Speaker 1: have the ability to rise from the bottom to the top,
• 1:41:32
  Speaker 1: this is it. This is the spot. There's no place better.
• 1:41:35
  Speaker 1: You could say it's not fair, but it what does
• 1:41:38
  Speaker 1: that mean, it's possible, you could do it. People have
• 1:41:42
  Speaker 1: done it. You just have to figure it out. And
• 1:41:43
  Speaker 1: like you have to spend less time playing video games,
• 1:41:46
  Speaker 1: less time smoking weed, less time doing nonsense, and more
• 1:41:49
  Speaker 1: time plotting your fucking future figure out what it is.
• 1:41:53
  Speaker 1: I think there's also a problem in a lot of
• 1:41:55
  Speaker 1: people have something that they really want to do that
• 1:41:59
  Speaker 1: they're not doing, and they they are not pursuing that,
• 1:42:03
  Speaker 1: and so then they're even more bitter because they're spending
• 1:42:05
  Speaker 1: time doing this job that they hate, which sucks. They
• 1:42:07
  Speaker 1: think it's taking away from their ability to do this
• 1:42:09
  Speaker 1: other thing which sucks, and then they come up with
• 1:42:12
  Speaker 1: all sorts of rationalizations for why they're not doing it.
• 1:42:15
  Speaker 2: Yeah, but what you said is one hundred percent correct. Well,
• 1:42:18
  Speaker 2: let me let me phrase it back. Yeah, it's not fair.
• 1:42:21
  Speaker 2: The world isn't fair.
• 1:42:23
  Speaker 1: Now, what right it is? What it is?
• 1:42:26
  Speaker 3: Like?
• 1:42:26
  Speaker 1: It is okay, So.
• 1:42:27
  Speaker 2: Accept that or are you gonna sit on it and
• 1:42:29
  Speaker 2: cry like that's the only option? Right, it's that or
• 1:42:32
  Speaker 2: do something.
• 1:42:32
  Speaker 1: But you're denying people's feelings, Caleb, I am. You're denying
• 1:42:36
  Speaker 1: people's feelings and that's very right. Coded, Yeah, that is right,
• 1:42:41
  Speaker 1: that's the argument.
• 1:42:42
  Speaker 2: It is it is like, I don't know, man, right,
• 1:42:46
  Speaker 2: code is fun if people just if they're getting the
• 1:42:50
  Speaker 2: bullshit degree and they borrow a shed ton of money
• 1:42:52
  Speaker 2: for it, that's not my fault. I didn't do that.
• 1:42:56
  Speaker 2: The system bezos didn't do that either. They say, well,
• 1:43:00
  Speaker 2: sociology and stuff should pay more. Okay, the market's determined
• 1:43:03
  Speaker 2: that it didn't. So now what you still get to
• 1:43:05
  Speaker 2: choose what you do, what business you start. You might
• 1:43:08
  Speaker 2: fail a thousand times, but you have so much more
• 1:43:11
  Speaker 2: agency than people right now are willing to accept. And
• 1:43:14
  Speaker 2: that's all I really care about telling people in the end,
• 1:43:17
  Speaker 2: that's all you have agency, take some personal responsibility. You
• 1:43:20
  Speaker 2: are not the disabled person that actually does not have agency, right,
• 1:43:24
  Speaker 2: because there are people that don't. Right, You're not that right.
• 1:43:28
  Speaker 1: Yeah, it's so important to say. And I think, you know,
• 1:43:30
  Speaker 1: as much as it's probably frustrating, you know when I
• 1:43:33
  Speaker 1: brought it up that you're putting your finger in this
• 1:43:36
  Speaker 1: damn and there's a hundred holes, I really do think
• 1:43:39
  Speaker 1: that you have a positive impact because I really do
• 1:43:41
  Speaker 1: think there's a lot of people. I mean, you've get
• 1:43:44
  Speaker 1: millions of views, there's a lot of people that are
• 1:43:45
  Speaker 1: watching these conversations and it resonates and they go, this
• 1:43:49
  Speaker 1: is me, he's talking to me, and he's right, Fuck,
• 1:43:54
  Speaker 1: what do I do? And at least it puts them
• 1:43:55
  Speaker 1: in this mindset that a change needs to take place.
• 1:43:59
  Speaker 2: Yeah, exactly.
• 1:44:00
  Speaker 1: And then you give them tools. You give them like
• 1:44:02
  Speaker 1: you explain to them what the steps that they can take,
• 1:44:06
  Speaker 1: you know. And that's the fucking crazy thing is they're
• 1:44:11
  Speaker 1: not getting this from school. School's not teaching you how
• 1:44:13
  Speaker 1: to organize your future, which is fucking a critical skill,
• 1:44:18
  Speaker 1: a critical piece of knowledge, like having a path that
• 1:44:22
  Speaker 1: you can actually follow.
• 1:44:24
  Speaker 2: I think it's a lot of the time it's the
• 1:44:27
  Speaker 2: student counselors there, because I remember being in school in
• 1:44:30
  Speaker 2: high school and the student counselor I met with her
• 1:44:31
  Speaker 2: once a year and the only conversation is what do
• 1:44:34
  Speaker 2: you want to study in college?
• 1:44:36
  Speaker 1: That was that.
• 1:44:36
  Speaker 2: That's all they cared about. And it's fair for most people.
• 1:44:39
  Speaker 2: College does still have like a sixty percent premium on
• 1:44:42
  Speaker 2: those without a degree on average, but that's the only
• 1:44:45
  Speaker 2: conversation and it is becoming less and less valuable as
• 1:44:48
  Speaker 2: every year goes on. And if that's all school cares about,
• 1:44:51
  Speaker 2: they don't care to even show you how to Okay,
• 1:44:54
  Speaker 2: I mean full admission here, and I'm going to look
• 1:44:57
  Speaker 2: like the most bait of pussying in the world. But
• 1:44:59
  Speaker 2: I don't how to do a fucking oil change. I
• 1:45:01
  Speaker 2: don't Why did the school teach me that? Why? Why
• 1:45:05
  Speaker 2: wasn't there any life skills? Now I have the personal responsibility,
• 1:45:09
  Speaker 2: I can go teach myself that right now. But I
• 1:45:10
  Speaker 2: have a touch su so I don't need to. But
• 1:45:12
  Speaker 2: why wasn't there anything about actual life? The only thing
• 1:45:18
  Speaker 2: there was to do was go to college? Nothing else.
• 1:45:22
  Speaker 2: That was the only conversation.
• 1:45:23
  Speaker 1: When I went to high school, we had auto shop. Yeah,
• 1:45:25
  Speaker 1: so I did learn.
• 1:45:26
  Speaker 2: I think they got rid of it the year before
• 1:45:28
  Speaker 2: I went really yeah, oh my god.
• 1:45:31
  Speaker 1: When I went to high school, I went to Newton
• 1:45:33
  Speaker 1: South High School and there was this guy who ran
• 1:45:37
  Speaker 1: the auto shop that was a mustang enthusiast. That's what
• 1:45:40
  Speaker 1: he loved, old mustangs and he would like fix them
• 1:45:43
  Speaker 1: and he would take his cars and teach kids how
• 1:45:46
  Speaker 1: to fix his old mustangs. He had like nineteen sixties,
• 1:45:49
  Speaker 1: early sixties, like sixty five, sixty six. He liked the
• 1:45:52
  Speaker 1: small mustangs. It was a fucking very interesting guy and
• 1:45:55
  Speaker 1: he would explain to you, like how sparkpugs work, Like,
• 1:45:59
  Speaker 1: this is your car, this is why it's jammed, this
• 1:46:02
  Speaker 1: is you know, this is how the internal combustion engine works.
• 1:46:05
  Speaker 1: He'd explain it to you. It'd like teach you things,
• 1:46:07
  Speaker 1: teach you like general maintenance stuff on cars, and it
• 1:46:11
  Speaker 1: was very valuable. Teach you how to jack up a car,
• 1:46:13
  Speaker 1: to like, how to do it safely. Where's the jacking point,
• 1:46:16
  Speaker 1: where's the lift points on the bottom of a frame?
• 1:46:18
  Speaker 2: Yeah? And home at classes too, Yeah, seems to be
• 1:46:20
  Speaker 2: a big thing.
• 1:46:21
  Speaker 1: Teach you how to cook.
• 1:46:22
  Speaker 2: It's falling away. And now, of course, now that we
• 1:46:24
  Speaker 2: don't teach people how to cook, they're complaining about not
• 1:46:27
  Speaker 2: eating out.
• 1:46:27
  Speaker 1: So disappearance of traditional shop classes did not happen overnight.
• 1:46:31
  Speaker 1: It happened in distinct phases. Sevent eighties and eighties. Budget
• 1:46:35
  Speaker 1: cuts major tax revolts, such as California's Proposition thirteen in
• 1:46:39
  Speaker 1: nineteen seventy eight, decimated public school budgets. Because maintaining workshops,
• 1:46:43
  Speaker 1: buying heavy machinery, and securing liability insurance were expensive, shop
• 1:46:47
  Speaker 1: programs became easy targets for elimination n IT diineties, college
• 1:46:51
  Speaker 1: prep push high schools shifted their focus to standardized testing
• 1:46:55
  Speaker 1: and four year university preparation, marginalizing vocational training. Which, meanwhile,
• 1:47:00
  Speaker 1: which is really crazy, what you're saying earlier today or
• 1:47:03
  Speaker 1: earlier on the show is very important. Is like trades
• 1:47:06
  Speaker 1: might be the only secure pathway becoming a carpenter, becoming electrician,
• 1:47:11
  Speaker 1: you know, heating and ventilation. Like people are gonna have
• 1:47:13
  Speaker 1: to have those systems installed and maintained, and we're gonna
• 1:47:18
  Speaker 1: need people for that. Like that's and that's a job.
• 1:47:20
  Speaker 1: You start your own HVAC company, Like you can make
• 1:47:23
  Speaker 1: some real fucking money.
• 1:47:24
  Speaker 2: Oh yeah, absolutely, And even things like apprenticeships. If you
• 1:47:28
  Speaker 2: get an apprenticeship, you have a ninety percent chance of
• 1:47:31
  Speaker 2: being retained to a full time position. Get into apprenticeships. Yeah,
• 1:47:36
  Speaker 2: like I know, just like a little fat dude with
• 1:47:38
  Speaker 2: some soft hands. But it's okay to do. You know,
• 1:47:41
  Speaker 2: those are good jobs. They're good paying jobs, they're good
• 1:47:45
  Speaker 2: career position jobs.
• 1:47:47
  Speaker 1: They are and if you want a good job. And
• 1:47:49
  Speaker 1: it's also it's like there's a weird thing with degrees,
• 1:47:54
  Speaker 1: Like degrees means your value as an intellects as a
• 1:47:59
  Speaker 1: person who can think you're a smart person. You went
• 1:48:02
  Speaker 1: to school and you got a degree. But if you
• 1:48:04
  Speaker 1: have a degree and you're fucking poor, and you know
• 1:48:07
  Speaker 1: what I'm saying, and you're depressed, and this guy is
• 1:48:10
  Speaker 1: a tradesman and he's wealthy and he's making money, people
• 1:48:15
  Speaker 1: with degrees still will look down at this always a plumber. Well,
• 1:48:19
  Speaker 1: fuck does he know about how this country works?
• 1:48:21
  Speaker 2: Like I'm sorry, some of the wealthiest people in our
• 1:48:23
  Speaker 2: country that have built the largest companies or college dropouts.
• 1:48:26
  Speaker 2: It's true, like Ale dates, I can't just fully respect
• 1:48:30
  Speaker 2: the college degree only especially when you can get the
• 1:48:32
  Speaker 2: most bullshit degrees now, and especially where the average GPA
• 1:48:36
  Speaker 2: and passing tests have gone substantially higher because our standards
• 1:48:40
  Speaker 2: are so much lower in universities now, it's pathetic. It's
• 1:48:45
  Speaker 2: becoming harder and harder to respect the degree. There's good degrees,
• 1:48:48
  Speaker 2: there really are, but it's getting harder and harder to
• 1:48:50
  Speaker 2: disrespect it as a blanket statement.
• 1:48:53
  Speaker 1: Yeah, no, you're absolutely making sense. And it's also education
• 1:48:58
  Speaker 1: is so readily available if you want to educate yourself,
• 1:49:01
  Speaker 1: there's just YouTube alone. You could kind of learn anything.
• 1:49:05
  Speaker 1: You can learn anything about anything, and if you're really
• 1:49:07
  Speaker 1: interested in actually doing the work and actually trying to
• 1:49:11
  Speaker 1: absorb the information. You can get a high quality education
• 1:49:14
  Speaker 1: without ever stepping into a university, just with audiobooks, just
• 1:49:18
  Speaker 1: with YouTube, just with I mean, there's so much knowledge,
• 1:49:23
  Speaker 1: much more than any other time in human history. So
• 1:49:27
  Speaker 1: the idea that the only way to get an education
• 1:49:30
  Speaker 1: is to go to these socially captured, these politically captured
• 1:49:35
  Speaker 1: environments and be force fed this indoctrination of horseshit by
• 1:49:39
  Speaker 1: communists who have never had a real job and also
• 1:49:43
  Speaker 1: be in debt an insane amount of money, because you're
• 1:49:46
  Speaker 1: spending more money for that education then you're going to
• 1:49:49
  Speaker 1: spend on anything else when you're fucking eighteen years old.
• 1:49:52
  Speaker 1: There's nothing even remotely close to a year and a
• 1:49:55
  Speaker 1: university degree unless you're buying a new car every year,
• 1:49:58
  Speaker 1: Like what the fuck are you spending that kind of
• 1:50:00
  Speaker 1: how much? Like what's Harvard a year right now? How
• 1:50:05
  Speaker 1: much per year is Harvard? Was it fifty sixty? Way
• 1:50:09
  Speaker 1: more than that? It depends if.
• 1:50:12
  Speaker 3: School.
• 1:50:14
  Speaker 2: The student loan balances people borrow on average ranges from
• 1:50:18
  Speaker 2: twenty five to forty thousand dollars for just an eighteen
• 1:50:20
  Speaker 2: year old to sign away nuts well through their four
• 1:50:23
  Speaker 2: year degree it's crazy. It's crazy, and it's all administrative
• 1:50:27
  Speaker 2: bloat now too, it's not even going to anything subsidized.
• 1:50:30
  Speaker 1: Like the whole thing is gross sixty two for undergrad
• 1:50:33
  Speaker 1: sixty two thousand dollars a year. What else are you
• 1:50:36
  Speaker 1: spending sixty two thousand dollars a year on? That's wight. Now,
• 1:50:38
  Speaker 1: imagine what'side. Jimmy fees including housing, health fees, and student
• 1:50:43
  Speaker 1: services tell you eightyh including housing, health fees and student
• 1:50:47
  Speaker 1: services coming to approximately eighty six to ninety five thousand
• 1:50:51
  Speaker 1: dollars before financial aid. So with housing, health fees and
• 1:50:55
  Speaker 1: human services, it could get to ninety five thousand dollars
• 1:50:59
  Speaker 1: a year. That's fucking crazy. And if you go through
• 1:51:03
  Speaker 1: that and you get a degree in gender studies, yes,
• 1:51:06
  Speaker 1: that's wild.
• 1:51:07
  Speaker 2: Now, for a fact, there's a sixty two thousand dollars
• 1:51:09
  Speaker 2: car out there. But for a fact, they will not
• 1:51:12
  Speaker 2: lend that car amount to an eighteen year old. I
• 1:51:16
  Speaker 2: don't know why they would do it for a college degree.
• 1:51:17
  Speaker 3: So it is kind of from the New York Times
• 1:51:19
  Speaker 3: nineteen eighty three about that. It's titled nineteen eighties grads
• 1:51:24
  Speaker 3: baby boom to job bust. This sounds a lot like
• 1:51:27
  Speaker 3: right now, but doesn't mention anything about debt or AI.
• 1:51:31
  Speaker 1: Yeah, so more than nine hundred thousand of them in
• 1:51:34
  Speaker 1: the nineteen eighties have discovered that they must put aside
• 1:51:38
  Speaker 1: college day dreams and settle for jobs that do not
• 1:51:40
  Speaker 1: require a degree if they want to work at all.
• 1:51:42
  Speaker 3: So this was when nineteen eighty three, whoa, Yeah, they're
• 1:51:46
  Speaker 3: all going in for jobs and none of the jobs
• 1:51:49
  Speaker 3: that they want are available.
• 1:51:51
  Speaker 1: So yeah, you know, you go back to that, it says. Yeah.
• 1:51:55
  Speaker 1: The Federal Bureau of Labor Statistics is long predicted that
• 1:51:57
  Speaker 1: the number of college graduates would exceed the number of technical, managerial,
• 1:52:01
  Speaker 1: and professional jobs available to them, a result in part
• 1:52:04
  Speaker 1: of a decade and a half long influx of well
• 1:52:07
  Speaker 1: educated Baby Boom generation into the labor market. The problem
• 1:52:13
  Speaker 1: is like young kids. If you ask kids, the vast
• 1:52:17
  Speaker 1: majority of them what they want to do, I think,
• 1:52:21
  Speaker 1: I know this is in California. It was like overwhelmingly
• 1:52:24
  Speaker 1: they wanted to be famous.
• 1:52:26
  Speaker 2: Yeah, I mean we're in the world of influencers. That
• 1:52:28
  Speaker 2: make sense. Everyone's trying to be a TikToker.
• 1:52:31
  Speaker 1: Well, everyone's also wanting to do what you're doing. Yeah,
• 1:52:34
  Speaker 1: you're an entertainer. Now you're giving financial advice, but you're
• 1:52:37
  Speaker 1: also an entertainer.
• 1:52:39
  Speaker 2: Yeah, it's very cool, and I wish everyone could do it.
• 1:52:42
  Speaker 2: Most of us aren't lucky. I got lucky. I don't know.
• 1:52:44
  Speaker 2: I mean, this is not a realistic thing, right, we
• 1:52:46
  Speaker 2: got to be realistic.
• 1:52:47
  Speaker 1: But what does that mean? If someone can do it,
• 1:52:50
  Speaker 1: you can do it. It's the numbers aren't good in
• 1:52:53
  Speaker 1: terms of like the amount of people that are going
• 1:52:55
  Speaker 1: to make it. But what are those factors that are
• 1:52:57
  Speaker 1: keeping people from figuring out how to do it? You
• 1:53:00
  Speaker 1: know what?
• 1:53:00
  Speaker 2: Though, I wasn't I wasn't fucking retarded about it. I
• 1:53:03
  Speaker 2: had a full time job, and I only allowed myself
• 1:53:06
  Speaker 2: to go full time on this thing once I proved
• 1:53:08
  Speaker 2: I had enough income to replace it for a few months.
• 1:53:10
  Speaker 2: Consistent most people, they're like, let me just quit my job,
• 1:53:14
  Speaker 2: borrow some money, and start recording some videos. Like you're
• 1:53:16
  Speaker 2: a moron, you're gonna fail at that. Yeah, I was strategic.
• 1:53:20
  Speaker 2: If I didn't work, or if this didn't work for me,
• 1:53:23
  Speaker 2: I would still have that job because I didn't quit
• 1:53:25
  Speaker 2: that job.
• 1:53:26
  Speaker 1: What were you doing?
• 1:53:27
  Speaker 2: I was a product manager at a tech company.
• 1:53:30
  Speaker 1: Did you hate it?
• 1:53:32
  Speaker 2: Kind of actually. Yeah, that's why I started applying for
• 1:53:34
  Speaker 2: other jobs and a YouTuber almost hired me. Then he didn't,
• 1:53:36
  Speaker 2: so I did it myself. This is kind of the path.
• 1:53:39
  Speaker 1: So what was the job that you were gonna get
• 1:53:42
  Speaker 1: hired for? The YouTuber? Uh?
• 1:53:44
  Speaker 2: Do you know Tyler Alavera? No? Oh, you've probably seen
• 1:53:47
  Speaker 2: his clips. He runs around and like records like, oh
• 1:53:50
  Speaker 2: look at all these Indians and Frisco that kind of stuff. Okay,
• 1:53:53
  Speaker 2: either way, I was gonna be like a production manager
• 1:53:56
  Speaker 2: for him, good guy, but I just didn't get the job.
• 1:54:00
  Speaker 2: Oh yeah, but I wanted to be decided I'm gonna
• 1:54:03
  Speaker 2: just go and do it myself. Yeah. I just recorded, Uh,
• 1:54:06
  Speaker 2: ordered a bunch of equipment and set up something and
• 1:54:09
  Speaker 2: started recording financial audit because there's a show I wanted
• 1:54:13
  Speaker 2: to see but it didn't exist yet, so I decided
• 1:54:15
  Speaker 2: to make it myself.
• 1:54:16
  Speaker 1: Really, so, no background at all in entertainment. Nothing. No.
• 1:54:20
  Speaker 2: I was like making stuff, like making music. That's why
• 1:54:22
  Speaker 2: I went to college making YouTube videos with friends in
• 1:54:26
  Speaker 2: high school.
• 1:54:27
  Speaker 1: But in an ideal world, would you be making music?
• 1:54:31
  Speaker 3: No?
• 1:54:31
  Speaker 2: I'm way richer then, But is that what you like
• 1:54:34
  Speaker 2: better than the actual music?
• 1:54:36
  Speaker 3: No?
• 1:54:36
  Speaker 2: This is so much more fun because it impacts more
• 1:54:38
  Speaker 2: people's lives. It really does. Like, that's fucking cool. I mean,
• 1:54:42
  Speaker 2: there's a lot of YouTubers, but being able to leave
• 1:54:46
  Speaker 2: a legacy and actually say that you've helped tens of thousands,
• 1:54:49
  Speaker 2: if not hundreds of thousands of people actually fix their lives,
• 1:54:52
  Speaker 2: that's actually something special. Yeah, that's something special that not
• 1:54:55
  Speaker 2: a lot of people get to say. So I don't
• 1:54:57
  Speaker 2: want to give that up.
• 1:54:58
  Speaker 1: That is cool. But but do you still do music
• 1:55:01
  Speaker 1: at all?
• 1:55:02
  Speaker 2: Not really? It was like concert band composition, and I'll
• 1:55:05
  Speaker 2: be honest, I don't think they would let me into
• 1:55:07
  Speaker 2: the world because I'm right wing coded and I like
• 1:55:11
  Speaker 2: I It sounds like a joke, but it's actually real.
• 1:55:14
  Speaker 2: Like there if you go on the music side of Facebook,
• 1:55:17
  Speaker 2: where they all are different band directors and different things
• 1:55:19
  Speaker 2: like that, they're all very very woke, which is cool.
• 1:55:24
  Speaker 2: I'm down to hang out with them, grab a beer
• 1:55:27
  Speaker 2: with them, but they they kick you out.
• 1:55:30
  Speaker 1: Wow.
• 1:55:31
  Speaker 2: Yeah, it's pretty toxic. But no, I mean for fun,
• 1:55:36
  Speaker 2: I write a little on the side, but my passion
• 1:55:38
  Speaker 2: is this thing.
• 1:55:38
  Speaker 1: Do you perform music or you just write it?
• 1:55:40
  Speaker 2: I used to play trombone, but it was mostly writing it.
• 1:55:43
  Speaker 2: That was the passion. But my passion is building my business.
• 1:55:46
  Speaker 2: Now I have forty people that work for me here
• 1:55:48
  Speaker 2: in Austin.
• 1:55:49
  Speaker 1: It's really cool you have forty employees.
• 1:55:52
  Speaker 2: Yeah, we're doing a lot of different things. We have
• 1:55:55
  Speaker 2: over one hundred thousand people to our paid membership on YouTube,
• 1:56:00
  Speaker 2: so that's an entire business on its own. It's crazy huge.
• 1:56:03
  Speaker 1: So what is the paid membership. What's the difference between
• 1:56:05
  Speaker 1: the paid membership and the free membership.
• 1:56:07
  Speaker 2: It's ten dollars a month and they get access to
• 1:56:10
  Speaker 2: We put on three premium shows that me and my
• 1:56:12
  Speaker 2: production staff make daily, so we have a whole almost
• 1:56:15
  Speaker 2: like network for them to consume behind the paywall.
• 1:56:18
  Speaker 1: And what are these shows about.
• 1:56:20
  Speaker 2: It's a variety of things. It's breaking down financial audit episodes.
• 1:56:23
  Speaker 2: We have a show called Fat and Fatter where me
• 1:56:25
  Speaker 2: and one of my talent people or whatever we test
• 1:56:31
  Speaker 2: food from different restaurants and rank them based on finances.
• 1:56:33
  Speaker 2: They're all finance based shows. So there's just these really cool,
• 1:56:36
  Speaker 2: fun things that engage with the community and they love
• 1:56:40
  Speaker 2: supporting it. So almost one hundred and ten thousand people
• 1:56:43
  Speaker 2: a month subscribed to that, which is really cool.
• 1:56:45
  Speaker 1: That's amazing.
• 1:56:46
  Speaker 2: Yeah, and then the budgeting app dollar Wise that we're
• 1:56:49
  Speaker 2: building financial audit, and then we have these personal services
• 1:56:53
  Speaker 2: on our own website as well, so people can apply
• 1:56:55
  Speaker 2: for personal loans and things like that. So we're trying
• 1:56:58
  Speaker 2: to really scale something. And that's much more of a
• 1:57:00
  Speaker 2: passion than writing music ever was. So's it's much more fun.
• 1:57:04
  Speaker 1: That's very interest. So you're doing that. You got the
• 1:57:07
  Speaker 1: dollar wise app, you have this YouTube thing where people
• 1:57:11
  Speaker 1: can subscribe. So but you seem like you've got some
• 1:57:14
  Speaker 1: plans to build out and to take this even further. Oh.
• 1:57:18
  Speaker 2: Yeah, we want to scale this budgeting app like a lot.
• 1:57:21
  Speaker 2: We want to really make it one of the top
• 1:57:23
  Speaker 2: dogs out there and really provide a value that isn't
• 1:57:25
  Speaker 2: being met in the marketplace. I'd love to build up
• 1:57:29
  Speaker 2: some other YouTubers at some point. I you know, we
• 1:57:33
  Speaker 2: have figured out the algorithm, we figured out what people like,
• 1:57:36
  Speaker 2: and I want to help other people that want to
• 1:57:38
  Speaker 2: create different finance content because finance content is boring, like
• 1:57:41
  Speaker 2: you said, yeah, and we found a way to make
• 1:57:43
  Speaker 2: it interesting and entertaining. I'd love to help some other
• 1:57:45
  Speaker 2: people launch their stuff. And then like the personal financial
• 1:57:49
  Speaker 2: tools similar to like what Ramsey has Dave Ramsey, they
• 1:57:52
  Speaker 2: connect people with mortgages and stuff. We want to make
• 1:57:54
  Speaker 2: sure we can provide that but in a way that
• 1:57:56
  Speaker 2: isn't so limited and strench it to a strict ideology.
• 1:58:00
  Speaker 2: So there's a lot in the market that's not being
• 1:58:02
  Speaker 2: met that I really want to build out.
• 1:58:05
  Speaker 1: And for young people like to have a resource like
• 1:58:08
  Speaker 1: that where there's someone who doesn't have a boring, stale
• 1:58:11
  Speaker 1: sort of perspective that could teach you how to budget
• 1:58:13
  Speaker 1: yourself and how to like take your money and invest it.
• 1:58:16
  Speaker 1: And then I'm sure there's a ton of online platforms
• 1:58:21
  Speaker 1: that show you how to cook. I can show you
• 1:58:24
  Speaker 1: how to shop, how to you know, I can save
• 1:58:27
  Speaker 1: money by growing to a grocery store and what's cost
• 1:58:30
  Speaker 1: effective and getting your nutrition in but also saving some money.
• 1:58:35
  Speaker 2: Yeah, what's the question. I'm sorry.
• 1:58:37
  Speaker 1: No, So, like it's like it's a beautiful time for
• 1:58:40
  Speaker 1: young people if they access these things. I'm just saying that,
• 1:58:43
  Speaker 1: like for young people that are listening to you and
• 1:58:46
  Speaker 1: like I don't know what to do. Oh, you're right,
• 1:58:49
  Speaker 1: Oh I do spend Like, let me look at the
• 1:58:51
  Speaker 1: amount of money I spend just getting door dash. Holy
• 1:58:54
  Speaker 1: shit's that's actually a large percentage of my check. And
• 1:58:58
  Speaker 1: how much would it be if I just went to
• 1:58:59
  Speaker 1: the grocery store once a week and I got all
• 1:59:02
  Speaker 1: my food for the week. Jesus Christ, I'd save three
• 1:59:04
  Speaker 1: hundred dollars.
• 1:59:05
  Speaker 2: Here's the reality. You don't get to have fun if
• 1:59:08
  Speaker 2: you don't have a fully fund at emergency fund. That's
• 1:59:11
  Speaker 2: a basic reality. Only sixty percent of Americans can cover
• 1:59:15
  Speaker 2: a four hundred dollars emergency, meaning forty percent can't. That's
• 1:59:18
  Speaker 2: four hundred dollars.
• 1:59:19
  Speaker 1: So when you say emergency fund, like, what do you
• 1:59:21
  Speaker 1: consider an emergency fund?
• 1:59:22
  Speaker 2: So there's a debate between three months to six months
• 1:59:25
  Speaker 2: of everything you need to live for a month. I'm
• 1:59:27
  Speaker 2: on that six month side because you know, things like
• 1:59:29
  Speaker 2: the pandemic and shutdowns. We're in that kind of world now,
• 1:59:32
  Speaker 2: so we may as well go that full way. Get
• 1:59:35
  Speaker 2: a six month emergency fund that protects you in case
• 1:59:37
  Speaker 2: of layoffs or just losing money, or a medical emergency,
• 1:59:41
  Speaker 2: whatever it may be. You got a lifeline. But that's basic,
• 1:59:45
  Speaker 2: Like that is so critical to life for like a
• 1:59:47
  Speaker 2: sick pat or a broken car, that if you don't
• 1:59:50
  Speaker 2: have that, I don't want to see you in a
• 1:59:53
  Speaker 2: drive through. That can't be acceptable. Going on a vacation
• 1:59:57
  Speaker 2: is not acceptable if you can't protect you in your
• 2:00:00
  Speaker 2: family at the basic level. I'll give you a little
• 2:00:03
  Speaker 2: bit of grace if you're not fully investing. Okay, but
• 2:00:05
  Speaker 2: this is like basic survival shit. It needs to be
• 2:00:08
  Speaker 2: just as critical as having like a first aid kit
• 2:00:10
  Speaker 2: in the house, because it's that serious. And that's what
• 2:00:13
  Speaker 2: causes Americans to just fuck up their houses financially, and
• 2:00:18
  Speaker 2: emergency happens, a layoff happens, and they're not ready. It's
• 2:00:21
  Speaker 2: scary and people are not ready.
• 2:00:23
  Speaker 1: I know, it's like that. The problem is hearing that
• 2:00:27
  Speaker 1: with young people, it's like that's boring, it is. I know,
• 2:00:31
  Speaker 1: they don't want to think that way. They just want
• 2:00:33
  Speaker 1: to go have fun. They want to play video games,
• 2:00:34
  Speaker 1: you want to go to the bar, which is fair.
• 2:00:37
  Speaker 2: But a six month emergency fund isn't that crazy. It's
• 2:00:39
  Speaker 2: not saving millions for retirement. Do that, then have some fun,
• 2:00:43
  Speaker 2: get to three months, then have a little bit of
• 2:00:45
  Speaker 2: fun while you're saving a six Just that, or at
• 2:00:49
  Speaker 2: least at a minimum, be able to cover your highest
• 2:00:51
  Speaker 2: insurance deductible or like a one month emergency fund. Have something.
• 2:00:55
  Speaker 2: The fact that forty percent don't have four hundred dollars
• 2:00:58
  Speaker 2: set aside for rainy day for an actual emergency is terrifying.
• 2:01:03
  Speaker 1: Yeah, so, now what are your thoughts on crypto?
• 2:01:08
  Speaker 2: I like crypto. I have a small amount of Bitcoin
• 2:01:10
  Speaker 2: in my portfolio. It's pretty good. Ten percent of Americans
• 2:01:14
  Speaker 2: use it as an investment tool, so it's still pretty
• 2:01:16
  Speaker 2: small for the overall American public. But I mean, I
• 2:01:21
  Speaker 2: I like it in general. Have we hit the full
• 2:01:24
  Speaker 2: bubble and pull back?
• 2:01:26
  Speaker 1: I wonder well, the crypto outside of Bitcoin gets very odd,
• 2:01:31
  Speaker 1: like meme coins, and you know, I'm heavily invested in
• 2:01:35
  Speaker 1: Milannia coin. I don't know about no, not personally kidding.
• 2:01:39
  Speaker 2: Not in my portfolio.
• 2:01:40
  Speaker 1: But there's like things like that where like what's going on,
• 2:01:43
  Speaker 1: Like who who's putting their money into the Haktua coin?
• 2:01:47
  Speaker 1: You know what I mean? It's like, this is it's
• 2:01:49
  Speaker 1: a very weird gambling thing we're doing. It's like a
• 2:01:52
  Speaker 1: legal pyramid scheme.
• 2:01:53
  Speaker 2: Yes exactly, and it's mostly just used by people for
• 2:01:56
  Speaker 2: a get rich quick, real quick. I don't even know
• 2:01:59
  Speaker 2: if she made money. I think she got fucked.
• 2:02:01
  Speaker 1: I think she got fucked and her reputation got destroyed,
• 2:02:03
  Speaker 1: Like people hated her, they're angry at her afterwards.
• 2:02:06
  Speaker 2: And yeah, she gets like five thousand years of video.
• 2:02:08
  Speaker 2: Now it's pretty brutal.
• 2:02:08
  Speaker 1: I think she got sucked into this idea. You know,
• 2:02:12
  Speaker 1: somehow another day was gonna be okay. And they're like
• 2:02:14
  Speaker 1: the people that got sucked into the NFT thing. I remember, man,
• 2:02:18
  Speaker 1: how many conversations do we have about NFTs where I
• 2:02:21
  Speaker 1: was trying to get someone to explain it to me, Like,
• 2:02:23
  Speaker 1: no one can explain this to me in a way
• 2:02:25
  Speaker 1: that makes sense. Why I can get that same picture
• 2:02:28
  Speaker 1: and put it on my phone and it's free. But
• 2:02:31
  Speaker 1: you have that picture on your phone and you own it,
• 2:02:34
  Speaker 1: then it died in six months, right, So but that
• 2:02:37
  Speaker 1: was one where it's like, what are they trying to
• 2:02:39
  Speaker 1: sell and how are so many people buying it? Well,
• 2:02:43
  Speaker 1: if you can't explain to me what you're selling, but
• 2:02:46
  Speaker 1: yet millions of dollars. I know a guy who made
• 2:02:48
  Speaker 1: over a million dollars in art NFTs.
• 2:02:52
  Speaker 2: Yeah, No, it's an actual thing. And I think what
• 2:02:54
  Speaker 2: every single person that gets in every pump and dump
• 2:02:57
  Speaker 2: thinks they're going to do is get the pump, but
• 2:03:00
  Speaker 2: not dump. They think they're gonna be that exception. They're
• 2:03:03
  Speaker 2: not gonna be. It's like day trading. Day trading is
• 2:03:06
  Speaker 2: even better, and that's still only eighty five or fifteen
• 2:03:10
  Speaker 2: percent win. Only fifteen percent win day trading. It'll just
• 2:03:13
  Speaker 2: higher than you think.
• 2:03:14
  Speaker 1: Yeah, wait a minute, so eighty five percent lose a day.
• 2:03:16
  Speaker 2: Trading has actual like day trading, like inter day trading,
• 2:03:20
  Speaker 2: it's brutal. Holy shit, those pumping dumps are even worse.
• 2:03:23
  Speaker 2: But everyone's a special little snowflake. They think they're gonna
• 2:03:27
  Speaker 2: be the one. They're gonna beat the system. Yeah, it
• 2:03:31
  Speaker 2: doesn't work, but I think there's some good value in
• 2:03:33
  Speaker 2: like ethereum or bitcoin it's actually being utilized.
• 2:03:38
  Speaker 1: Are these meme coins also a good way to launder money? Oh?
• 2:03:41
  Speaker 2: Well, wonder Actually that's interesting. I bet I wouldn't be surprised.
• 2:03:46
  Speaker 1: So certainly distribute money to people. Like if you made
• 2:03:49
  Speaker 1: a caleb coin and I said, yah, what do you
• 2:03:51
  Speaker 1: think I got an idea? Well, you and I collaborate.
• 2:03:54
  Speaker 1: I'll finance your caleb coin and you dump out early
• 2:03:58
  Speaker 1: and you get all this money from it, and fuck
• 2:04:00
  Speaker 1: all these other people that thought they were gonna make
• 2:04:02
  Speaker 1: money and they're not going to anyway and now you've
• 2:04:04
  Speaker 1: got that money, and now we're gonna work together to
• 2:04:07
  Speaker 1: do something.
• 2:04:08
  Speaker 2: Yeah. No, it's crazy.
• 2:04:10
  Speaker 1: It's a way to move money around in a way
• 2:04:11
  Speaker 1: that's not directly financially compensating someone, but yet you are.
• 2:04:15
  Speaker 2: And there's entire websites dedicated to the pump funds. I
• 2:04:18
  Speaker 2: think it's like pump dot fund, really pump fund something
• 2:04:21
  Speaker 2: like that. You can make a coin, you can invest
• 2:04:23
  Speaker 2: in coin. It's all for pumps, but they just everyone
• 2:04:25
  Speaker 2: thinks they're going to be a part of the pump,
• 2:04:27
  Speaker 2: not the dump.
• 2:04:29
  Speaker 1: It's crazy, but it's this is the wild West of
• 2:04:33
  Speaker 1: unregulated currency. Yeah, and my fear is people are going
• 2:04:38
  Speaker 1: to eventually wind up being stuck in a centralized digital
• 2:04:41
  Speaker 1: currency that the government controls and it's attached to a
• 2:04:45
  Speaker 1: social credits core system.
• 2:04:47
  Speaker 2: And you know, Okay, that's scary.
• 2:04:50
  Speaker 1: That's a scary thought.
• 2:04:51
  Speaker 2: Further down a scary path.
• 2:04:52
  Speaker 1: Well, people have actually proposed that. It's saying that we
• 2:04:55
  Speaker 1: need this to compete with China. I've heard this really, yeah,
• 2:04:58
  Speaker 1: I've heard this being proposed by politicians. It's quite terrifying
• 2:05:01
  Speaker 1: because if they can turn your money off or on,
• 2:05:04
  Speaker 1: if they have it and turn your ability off or
• 2:05:06
  Speaker 1: on to buy things, whether you can buy plane tickets
• 2:05:09
  Speaker 1: or if you're not, if you're problematic, you've you've done
• 2:05:14
  Speaker 1: something that it's crazy. But that's where all this control
• 2:05:17
  Speaker 1: goes to. Sure, it definitely goes to, like what's the
• 2:05:20
  Speaker 1: best way to control people? Completely eliminate their ability to
• 2:05:22
  Speaker 1: spend money locked?
• 2:05:25
  Speaker 2: Let people smoke math on the trains.
• 2:05:28
  Speaker 1: You know, we have a racist system, Caleb, And all
• 2:05:32
  Speaker 1: of these people have been victimized from the time they're young. Yeah,
• 2:05:38
  Speaker 1: it's uh. You know, I've always said that if you
• 2:05:40
  Speaker 1: want to make America great, really, what you've got to
• 2:05:41
  Speaker 1: do is have less losers. So figure out what's going on,
• 2:05:45
  Speaker 1: like why are there so many people that are homeless?
• 2:05:46
  Speaker 1: Why are there so many people that are locked into
• 2:05:49
  Speaker 1: these crime infested neighborhoods and gang infested neighborhoods, And this
• 2:05:53
  Speaker 1: cycle compete completes itself over and over again, decade after decade,
• 2:05:57
  Speaker 1: Like invest money in that. You want to you want
• 2:06:00
  Speaker 1: to make the world a better place, fix all that,
• 2:06:02
  Speaker 1: but there's no effort to do that whatsoever, And no
• 2:06:04
  Speaker 1: politicians ever bring it up. It's never a discussion.
• 2:06:07
  Speaker 2: Yeah, and it's good to set up in incentives in
• 2:06:11
  Speaker 2: the system as well. So California is moral on a
• 2:06:14
  Speaker 2: right on a lot of things with their social programs.
• 2:06:17
  Speaker 2: But because of a lot of their social programs and
• 2:06:19
  Speaker 2: everything they've set up in safety nets, they're forty ninth
• 2:06:22
  Speaker 2: in unemployment. Like, it's not great. The incentive isn't there
• 2:06:26
  Speaker 2: for people to go out?
• 2:06:27
  Speaker 1: Is that really what they are? Forty nine?
• 2:06:28
  Speaker 2: I think they were fiftieth until recently. Oh god, yeah, no,
• 2:06:32
  Speaker 2: it's not great. But an incredible tech boom and whatnot.
• 2:06:35
  Speaker 2: But when the incentives are, you know, easy to manipulate
• 2:06:40
  Speaker 2: and take advantage of.
• 2:06:41
  Speaker 1: What percentage of people in California are unemployed? I don't know,
• 2:06:44
  Speaker 1: let's find that out. Uh it's forty eight now forty eight.
• 2:06:49
  Speaker 1: California is moving on up five point three percent, But
• 2:06:52
  Speaker 1: that's also five point three percent of people that are
• 2:06:55
  Speaker 1: actively looking for jobs. Exactly, they drop off as soon
• 2:06:58
  Speaker 1: as they stop looking for a job.
• 2:07:00
  Speaker 2: If many of the young men are not, they're not
• 2:07:03
  Speaker 2: doing anything, and how they're making money. I don't know. Parents,
• 2:07:07
  Speaker 2: I don't know. It's pretty pathetic. I'll be honest.
• 2:07:10
  Speaker 1: You imagine if you're a fucking parent in your sixties
• 2:07:14
  Speaker 1: and your forty year old son is living at home
• 2:07:17
  Speaker 1: with you.
• 2:07:18
  Speaker 3: No.
• 2:07:18
  Speaker 2: I was pulling up some nerd stats before coming on here,
• 2:07:22
  Speaker 2: and I was reading through Bureau of Labor Statistics or
• 2:07:27
  Speaker 2: Gallup poll that forty percent of people aged eighteen to
• 2:07:31
  Speaker 2: twenty nine regularly receive help from family and relatives. Wow,
• 2:07:37
  Speaker 2: which is an incredible percentage of that age group. That's scary. Again,
• 2:07:43
  Speaker 2: the incentive is, like, I don't know, I don't know
• 2:07:45
  Speaker 2: when I was eighteen, I'm not even that old. I'm
• 2:07:48
  Speaker 2: thirty one. But when I was eighteen, I was so
• 2:07:49
  Speaker 2: excited to go out there and be independent and be
• 2:07:51
  Speaker 2: on my own. That was everything. I was so excited
• 2:07:53
  Speaker 2: to make my way in this world. I wouldn't want
• 2:07:55
  Speaker 2: to leach. I wouldn't want to leach on any system
• 2:07:59
  Speaker 2: i'd want to. But maybe that's why I'm successful. I
• 2:08:01
  Speaker 2: don't know. Maybe I am.
• 2:08:02
  Speaker 1: That definitely has a fact, it's a part of it.
• 2:08:05
  Speaker 1: It's a factor.
• 2:08:06
  Speaker 2: But there's a lot of people that just do nothing
• 2:08:08
  Speaker 2: and they're not looking for anything else, and it's I
• 2:08:10
  Speaker 2: don't think we should we should support those who need help.
• 2:08:14
  Speaker 2: I'm for robust social safety systems. People that become unemployed,
• 2:08:17
  Speaker 2: people that need help getting food on the table for
• 2:08:20
  Speaker 2: their family. That stuff is important. But if we are
• 2:08:22
  Speaker 2: enabling bad behavior, it doesn't work, and then we have
• 2:08:26
  Speaker 2: a failed society because people aren't going and creating things.
• 2:08:28
  Speaker 2: Luckily we're not there yet, but I just don't want
• 2:08:30
  Speaker 2: to head there.
• 2:08:31
  Speaker 1: Yeah, And the recognition of human nature is not cruelty.
• 2:08:34
  Speaker 1: It's just you really can't help people all the time.
• 2:08:37
  Speaker 1: They have to be able to help themselves. And one
• 2:08:39
  Speaker 1: of the best motivating factors for helping yourself is desperation.
• 2:08:44
  Speaker 2: Yeah.
• 2:08:44
  Speaker 1: That people don't like to hear that, but that's that's true.
• 2:08:47
  Speaker 1: If you bail people out every time, they're never going
• 2:08:50
  Speaker 1: to bail themselves out. And that's just a fact.
• 2:08:52
  Speaker 2: Yeah.
• 2:08:52
  Speaker 1: Now, this doesn't mean that like a family that's on
• 2:08:54
  Speaker 1: hard times, that's down on their lucks shouldn't get social
• 2:08:57
  Speaker 1: safety nets. Of course they should. That's a big part
• 2:09:00
  Speaker 1: of a community. A community should help its vulnerable people.
• 2:09:03
  Speaker 1: It's a part of it. But you also have to
• 2:09:04
  Speaker 1: teach people how to not be vulnerable, you know. I
• 2:09:07
  Speaker 1: think that that's a great part of what you provide.
• 2:09:10
  Speaker 3: Does this make any sense?
• 2:09:11
  Speaker 1: What does it say? I just I mean it's a
• 2:09:14
  Speaker 1: California holds contrasting unemployment rankings. Depending on the metric, it
• 2:09:18
  Speaker 1: ties for the highest unemployment rate in the nation, but
• 2:09:21
  Speaker 1: places second overall for the best states to work due
• 2:09:24
  Speaker 1: to strong wage policies and worker rights. But that's also
• 2:09:27
  Speaker 1: probably why a lot of people are unemployed.
• 2:09:29
  Speaker 2: Yeah, I mean those they get a job have it great.
• 2:09:32
  Speaker 2: I mean, same thing happens in places like France where
• 2:09:35
  Speaker 2: they have aggressive unemployment. But if you get a job there,
• 2:09:38
  Speaker 2: with the vacation policies and worker rights, it's like the
• 2:09:40
  Speaker 2: best thing in the world. It's incredible. Like even in Poland,
• 2:09:45
  Speaker 2: which is one of the more capitalistic countries in the EU,
• 2:09:48
  Speaker 2: if you get fired, they still got to let you
• 2:09:50
  Speaker 2: work for them for a month or two. Oh yeah,
• 2:09:53
  Speaker 2: like you have to let the employee you fired work
• 2:09:56
  Speaker 2: for you for a couple of months. Still, like it's
• 2:09:58
  Speaker 2: pretty brural, so that's a still shit. Yeah, they still
• 2:10:01
  Speaker 2: have to show up.
• 2:10:02
  Speaker 1: So when you get fired, you have a two month
• 2:10:04
  Speaker 1: grace period.
• 2:10:05
  Speaker 4: Basically basically, wow, you imagine how bad that guy's gonna
• 2:10:10
  Speaker 4: perform when he has to get paid and he's there
• 2:10:12
  Speaker 4: for two months and you have to deal with this
• 2:10:14
  Speaker 4: disgruntled asshole kicking around the office.
• 2:10:17
  Speaker 2: Yeah, so that's what I'm talking about when I'm talking
• 2:10:18
  Speaker 2: about performative policies. It's nice, it sounds good. I don't
• 2:10:22
  Speaker 2: morally disagree with most of anything California does. All I
• 2:10:26
  Speaker 2: care about is outcomes. But politicians don't get elected based
• 2:10:29
  Speaker 2: on outcomes. They get elected based on what sounds good
• 2:10:32
  Speaker 2: in an election cycle, what they can promise, the performative
• 2:10:35
  Speaker 2: things they promise. Outcomes are never tracked. They're not what matters.
• 2:10:40
  Speaker 2: That outcome is forty eighth in unemployment, that's the actual outcome.
• 2:10:44
  Speaker 2: You were a little anti California when I see clips
• 2:10:47
  Speaker 2: and you didn't even know it was forty eighth. Like
• 2:10:49
  Speaker 2: that is crazy. Yeah, like we should know that. But
• 2:10:52
  Speaker 2: outcomes is not what's tracked here. We don't track that.
• 2:10:55
  Speaker 2: It's not in our nature. It's not in the politician's
• 2:10:58
  Speaker 2: nature either.
• 2:10:59
  Speaker 1: Well, it's just such a problem with people that finance
• 2:11:01
  Speaker 1: and talking about money and talking about jobs is just
• 2:11:04
  Speaker 1: not sexy. They just don't enjoy it. Yeah, for sure,
• 2:11:07
  Speaker 1: you know, and it's part of the reason why so
• 2:11:09
  Speaker 1: many people are on these bad paths is that they
• 2:11:12
  Speaker 1: don't have these thoughts in their head. They don't really understand.
• 2:11:15
  Speaker 1: And I think that's one of the more important things
• 2:11:17
  Speaker 1: about these conversations that you're having, is that people do
• 2:11:20
  Speaker 1: need to hear what the consequences are for fucking up
• 2:11:23
  Speaker 1: with the consequences, and that there's a path forward that
• 2:11:26
  Speaker 1: you can actually fix your fucking situation.
• 2:11:28
  Speaker 2: Everyone. We are so lenient in this country with our
• 2:11:30
  Speaker 2: big bankruptcy protection laws. It's crazy we are. If there
• 2:11:36
  Speaker 2: is a place to escape a bad financial situation, you're
• 2:11:39
  Speaker 2: in the United States is pretty damn.
• 2:11:41
  Speaker 1: Good, except for student loans.
• 2:11:43
  Speaker 2: Except for student loans, eleven percent of current federal student
• 2:11:47
  Speaker 2: loans that are under default. That's the biggest of any
• 2:11:50
  Speaker 2: kind of debt category in the country. It's bad, and
• 2:11:53
  Speaker 2: people don't understand the consequences. And you know what's so stupid.
• 2:11:55
  Speaker 2: This is what pisses me off because I have people
• 2:11:57
  Speaker 2: talk to me about her all the time. They say
• 2:11:59
  Speaker 2: the student loan system is fucked and relatively it is,
• 2:12:01
  Speaker 2: but they get why wrong. They say, this is too expensive,
• 2:12:05
  Speaker 2: I can't pay it, and if I don't pay it,
• 2:12:08
  Speaker 2: then they're gonna garnish my wage just because of winning
• 2:12:10
  Speaker 2: a default. Brother. Republican Donald Trump signed in the Big
• 2:12:15
  Speaker 2: Beautiful Bill the repayment assistance program, which is different than
• 2:12:18
  Speaker 2: the previous program, but that allows as little as one
• 2:12:22
  Speaker 2: percent of your income, depending on your income situation, to
• 2:12:25
  Speaker 2: qualify as the minimum monthly payment. One percent. You want
• 2:12:30
  Speaker 2: default to one percent, But they're complaining that it's too expensive.
• 2:12:34
  Speaker 2: They're just not willing to look into the actual reality
• 2:12:37
  Speaker 2: and just say, hey, give me only repayment assistance program.
• 2:12:41
  Speaker 2: They just want to be victims. Say it's all bad,
• 2:12:43
  Speaker 2: it's all evil, it's not perfect. But they don't understand
• 2:12:46
  Speaker 2: why they complain about the wrong thing. What's wrong is
• 2:12:48
  Speaker 2: we'll let you borrow whatever you want to get whatever
• 2:12:50
  Speaker 2: bullshit degree at whatever college you want to go to.
• 2:12:53
  Speaker 2: That's what's wrong. Every time we raise how much you
• 2:12:56
  Speaker 2: can borrow for school, schools conveniently raise how much it
• 2:12:59
  Speaker 2: costs to go to school. When it was cheap to
• 2:13:02
  Speaker 2: go to school, when everyone's like, brack com my day,
• 2:13:04
  Speaker 2: it was cheap to go to school, it didn't you
• 2:13:08
  Speaker 2: couldn't borrow money to go to school. It's set in
• 2:13:11
  Speaker 2: line right right. Why wouldn't they charge more for an
• 2:13:15
  Speaker 2: administrative blow in creating h like southern schools have. I
• 2:13:19
  Speaker 2: think in Alabama, a freaking lazy river on their campus.
• 2:13:24
  Speaker 2: It's a recruitment tool. They do that. If you can
• 2:13:27
  Speaker 2: borrow more money, they will charge more money.
• 2:13:30
  Speaker 1: Does it say, Jimmy, you.
• 2:13:31
  Speaker 3: Can technically get your student loans discharge via bankruptcy. There's
• 2:13:35
  Speaker 3: just a few different ways.
• 2:13:36
  Speaker 1: But it's not automatic and takes extra steps. And proof
• 2:13:39
  Speaker 1: of undue hardship what is that? How do they define
• 2:13:42
  Speaker 1: undue hardship? Well, you gotta go to a judge, so
• 2:13:46
  Speaker 1: like maybe if you got paralyzed.
• 2:13:49
  Speaker 3: Honestly, it's gonna be case by case. But I just
• 2:13:52
  Speaker 3: I've looked it up a couple of times and it's.
• 2:13:55
  Speaker 1: Not it's just difficult. It's just a trudge.
• 2:13:58
  Speaker 2: It's pretty rare as far as I know, Yeah, as
• 2:14:01
  Speaker 2: far as I know. As well.
• 2:14:02
  Speaker 1: Listen, Caleb, I think what you provide is very valuable.
• 2:14:04
  Speaker 1: I really do, and I like it. And then you've
• 2:14:06
  Speaker 1: found like this new avenue where you're entertaining, but you're
• 2:14:11
  Speaker 1: talking about finances and giving people like really good advice,
• 2:14:15
  Speaker 1: like sound advice, and if you don't follow your advice,
• 2:14:19
  Speaker 1: like people are going to continue down the same fucking
• 2:14:21
  Speaker 1: shitty road and their life will be ruined. And I
• 2:14:24
  Speaker 1: think it's awesome that you do that, and it's awesome
• 2:14:27
  Speaker 1: that you figured out a way to do it and
• 2:14:28
  Speaker 1: make it entertaining and fun. Thank you.
• 2:14:30
  Speaker 2: I appreciate that, so my pleasure.
• 2:14:31
  Speaker 1: Thank you, Thanks for being here. And one more time,
• 2:14:34
  Speaker 1: your app. Tell everybody dollar wise dollar wise from the
• 2:14:38
  Speaker 1: app store, Android as well, so everything and your YouTube
• 2:14:42
  Speaker 1: channel is just straight up and then Instagram all that
• 2:14:46
  Speaker 1: stuff right, Thanks, fun everybody, No