Latest / Earn Your Leisure / EYL #10 Major Key.

Transcript

EYL #10 Major Key. · Earn Your Leisure

• 0:00
  Speaker 1: Coach, the energy out there felt different. What changed for
• 0:03
  Speaker 1: the team today?
• 0:03
  Speaker 2: It was the new game day scratches from the California
• 0:06
  Speaker 2: Lottery players. Everything. Those games sent the team's energy through
• 0:09
  Speaker 2: the roof.
• 0:09
  Speaker 1: Are you saying it was the off field play that
• 0:11
  Speaker 1: made the difference on the field.
• 0:13
  Speaker 2: Hey, little play makes your day, and today it made
• 0:15
  Speaker 2: the game.
• 0:16
  Speaker 3: That's all for now, coach, one more question.
• 0:18
  Speaker 1: Play the new Los Angeles Chargers, San Francisco forty nine
• 0:21
  Speaker 1: ers and Los Angeles Rams scratchers from the California Lottery.
• 0:25
  Speaker 1: A little play can make your day. Peace made responsibily.
• 0:28
  Speaker 1: Must be eighteen years or older to purchase late or claim.
• 0:50
  Speaker 3: All right, guys, welcome back episode ten. Time Fly, Time Flies.
• 0:56
  Speaker 3: This is a monumental episode for us because it's on
• 0:58
  Speaker 3: tenth one, tenth week. So first of all, we want
• 1:01
  Speaker 3: to thank you guys. Our growth has been tremendous on
• 1:06
  Speaker 3: all audio platforms, on YouTube, on Instagram ten weeks in
• 1:11
  Speaker 3: and you know we're hitting the ground running. So that's
• 1:14
  Speaker 3: only because you guys that are spreading the words. So
• 1:18
  Speaker 3: thank you, thank.
• 1:18
  Speaker 2: You, thank you everybody who's been supporting, hitting our website up,
• 1:23
  Speaker 2: getting the merged. We really appreciate it, Thank you so much.
• 1:26
  Speaker 3: All right, So we're going to jump into it this
• 1:29
  Speaker 3: week with one of the biggest topics of discussion, which
• 1:34
  Speaker 3: is a massive college cheating scandal Colle's admissions cheating scandal,
• 1:40
  Speaker 3: and it reaches pretty broad reaching. It's the biggest one
• 1:44
  Speaker 3: in American history FBI probe. So I put it on
• 1:48
  Speaker 3: my Instagram, I put it on our Instagram, actually on
• 1:50
  Speaker 3: your leisure page to see, you know, the reaction if
• 1:53
  Speaker 3: we should talk about it or not. And a lot
• 1:54
  Speaker 3: of people wanted us to talk about it, and a
• 1:56
  Speaker 3: lot of people really wasn't sure exactly the full dynamic,
• 2:00
  Speaker 3: what happens, like, what it really encountered, and you know,
• 2:03
  Speaker 3: all of that stuff. So with that being said, we
• 2:08
  Speaker 3: want to jump into it and explain it in full, yeah,
• 2:14
  Speaker 3: because it's more involved when people think.
• 2:17
  Speaker 2: Yeah, a lot of people like a really completely oblivious
• 2:20
  Speaker 2: to what happened. They saw it on the news and
• 2:21
  Speaker 2: the headlines. But there's so many layers to it, and
• 2:23
  Speaker 2: hopefully we'll be able to explain that to you in
• 2:25
  Speaker 2: a way that you can understand and digest.
• 2:27
  Speaker 3: All right, So you want to start it off.
• 2:30
  Speaker 2: Yeah, So we'll start with by the FBI finding this
• 2:34
  Speaker 2: out by mistake, completely by mistake. It was just a happenstance.
• 2:38
  Speaker 2: They were investigating this this man named uh Maury Tobin,
• 2:42
  Speaker 2: who was a yell alone and he was on the
• 2:45
  Speaker 2: investigation for a pump and dump scheme. So a pump
• 2:48
  Speaker 2: and dump is when you put money into a stock
• 2:51
  Speaker 2: and the stock rises and you sell it because you
• 2:53
  Speaker 2: know that the stock's not gonna last long. So he
• 2:55
  Speaker 2: was on the investigation. They had all the evidence presented
• 2:58
  Speaker 2: for him, and when they presented it, one of me
• 3:01
  Speaker 2: was like, you know what, I'll cooperate you guys, if
• 3:03
  Speaker 2: you give me linency, I'll cooperate. So what he does
• 3:05
  Speaker 2: is say, you know what, I'm a yello lum. My
• 3:08
  Speaker 2: daughter wants to go to Yea and play soccer. The
• 3:10
  Speaker 2: coach there, Rudy Meredith, offered me to have my daughter
• 3:15
  Speaker 2: come to school for four hundred and fifty thousand dollars.
• 3:17
  Speaker 2: So he says, you know what, if you pay four
• 3:19
  Speaker 2: hundred and fifty thousand, your daughter could come to the school.
• 3:22
  Speaker 2: FBI says, Okay, that's really good. Can you get that
• 3:25
  Speaker 2: on tape. So Tobin does is he wears a wire
• 3:29
  Speaker 2: and he goes to having meeting with Meredith, and he
• 3:31
  Speaker 2: has them on tape saying it now. Once Meredith is caught,
• 3:34
  Speaker 2: he says, you know what, I'll cooperate if you give
• 3:38
  Speaker 2: me linency, I'll tell you where this money is going.
• 3:41
  Speaker 2: And it comes up to this man named Rick Singer.
• 3:44
  Speaker 2: And if you don't know Rick Singer is, we're going
• 3:46
  Speaker 2: to go to some death about who he is and
• 3:48
  Speaker 2: his role in this story. But what he does is
• 3:51
  Speaker 2: he starts singing ironically enough, so you want to talk
• 3:54
  Speaker 2: about who Rick singers?
• 3:55
  Speaker 3: Yeah, So Rick Singer is a guy. He started a
• 3:59
  Speaker 3: company called the Key, right, and the Key was a
• 4:04
  Speaker 3: company that designed to have affluent parents paid to get
• 4:09
  Speaker 3: their kids into college. Right. And it's a couple of
• 4:12
  Speaker 3: different ways how you went about doing it, but they
• 4:14
  Speaker 3: were all pretty much illegal ways. So the Key, it's
• 4:20
  Speaker 3: all unfolded because of Lori Lochlin. So so she's I'm
• 4:26
  Speaker 3: Becky from full House, full House that brings back memories.
• 4:32
  Speaker 3: That's that's that's Selectee's crazy's all right. So now you
• 4:38
  Speaker 3: have I'm Becky from full House, right. And when he
• 4:42
  Speaker 3: got put the pressure on as far as we're Singer,
• 4:44
  Speaker 3: he starts to fold. So It's like it's like a
• 4:46
  Speaker 3: domino fact. Right, one guy rats, another guy rats. So
• 4:50
  Speaker 3: now he says, okay, well I'll open it up for you. Right,
• 4:52
  Speaker 3: this is bigger than just me. So now you have
• 4:55
  Speaker 3: all these Hollywood A List celebrities V List celebrities that
• 4:58
  Speaker 3: are paying up to five hundre tred thousand in some
• 5:00
  Speaker 3: case I heard even a million and a half to
• 5:02
  Speaker 3: get their kids into college. Right, So how they getting
• 5:04
  Speaker 3: their kids into college is the interesting part. A lot
• 5:06
  Speaker 3: of times people say, okay, well rich people paying to
• 5:08
  Speaker 3: get their kids into school, that's nothing.
• 5:10
  Speaker 2: Yeah, we've seen before.
• 5:11
  Speaker 3: Who really kids? But this is how it all breaks
• 5:13
  Speaker 3: down because the theme of this show is like the
• 5:16
  Speaker 3: backstory behind sports and entertainment, right, so we want to
• 5:20
  Speaker 3: give you the backstory behind sports and entertainment. So this
• 5:23
  Speaker 3: all ties in. It's a very complicated situation. So they're
• 5:28
  Speaker 3: really using two avenues to get the kids into college. Right,
• 5:30
  Speaker 3: So they're paying, they're using disability learning disabilities, right because
• 5:35
  Speaker 3: now if you have a learning disability, when you take
• 5:37
  Speaker 3: your sat or Act, you get longer time.
• 5:40
  Speaker 2: So that comes from him first paying school psychologists. So
• 5:45
  Speaker 2: the first thing he gets on a payroll school psychologist
• 5:47
  Speaker 2: and in two ways that they do with first ones
• 5:48
  Speaker 2: ACT SAT test. So he gets school psychologists because he
• 5:52
  Speaker 2: knows that they can create the paperwork that he needs
• 5:54
  Speaker 2: to show that the kids have learning disabilities. So when
• 5:57
  Speaker 2: they get that paperwork, it'll allow them to have extended
• 5:59
  Speaker 2: time into the testing accommodation, either time and a half
• 6:02
  Speaker 2: or double time. Once they get that, now the kids
• 6:05
  Speaker 2: have longer time to take the SAT. But it goes
• 6:07
  Speaker 2: even deeper because after they take the test, right, sometimes
• 6:12
  Speaker 2: he has another person on the payroll, the procter of
• 6:15
  Speaker 2: the test. So they take the test and a lot
• 6:17
  Speaker 2: of times the kids didn't know this, but the proctor
• 6:19
  Speaker 2: was like some guy that they hired, like an SAT genius,
• 6:22
  Speaker 2: and he would just change the answers for the students
• 6:24
  Speaker 2: so that they would get higher scores. He wouldn't even
• 6:26
  Speaker 2: further than that though, right, this is like one of
• 6:28
  Speaker 2: the illest things he did. We know, like when we
• 6:32
  Speaker 2: take the ACT and set like way back when that
• 6:35
  Speaker 2: those tests were at specific locations. So what he did
• 6:39
  Speaker 2: is he knew that the parents had a lot of money,
• 6:41
  Speaker 2: and he said, I need a different type of testing accommodation.
• 6:44
  Speaker 2: I need the students to create a scenario where they
• 6:48
  Speaker 2: have to leave. So parents would say, look, I'm going
• 6:50
  Speaker 2: on a business trip, I have to take my children.
• 6:53
  Speaker 2: Is any way that they can take this in a
• 6:55
  Speaker 2: different location? And they went to two places. They went
• 6:57
  Speaker 2: to Houston and they went to West Hollywood. And when
• 6:59
  Speaker 2: they were there, when it got there, obviously it was
• 7:02
  Speaker 2: the practor was on the payroll, but sometimes they had
• 7:06
  Speaker 2: people just go into those locations and take it for them.
• 7:08
  Speaker 2: So like these kids never took some kids never took
• 7:11
  Speaker 2: the test, some took it and answers were changed, and
• 7:14
  Speaker 2: it's like, wait, what how did this happen?
• 7:16
  Speaker 3: Yeah, so that's the academic side, And now we're talking
• 7:19
  Speaker 3: about the athletics side, right. So it's actually fitting that
• 7:23
  Speaker 3: you spoke about the academic side because you work in school,
• 7:26
  Speaker 3: you're educator, right, and I played sports my whole life,
• 7:29
  Speaker 3: So now I'll talk about the academic side. So as
• 7:32
  Speaker 3: a Division one former Division one athlete, I can speak
• 7:35
  Speaker 3: about this first hand. Yeah, so when you are recruited
• 7:38
  Speaker 3: to go to the school. Now, each college has academic
• 7:42
  Speaker 3: requirements right now, of academic requirements, most of the time,
• 7:45
  Speaker 3: they have leniency for athletics athletes, right, So it's lower
• 7:50
  Speaker 3: for an athlete to get the academic requirements are lower, right,
• 7:53
  Speaker 3: because they're an athlete. So what happens is that you
• 7:56
  Speaker 3: have big time college sports basket ball, football, everybody knows that, right,
• 8:01
  Speaker 3: But there's a lot of college sports where we actually
• 8:03
  Speaker 3: spoke about a few episodes ago, and nobody really knows
• 8:08
  Speaker 3: most of these sports, right. So you have teams like
• 8:11
  Speaker 3: water polo, sailing, even soccer in some cases squash squash. Uh,
• 8:17
  Speaker 3: nobody knows, no disrespect to these these teams, but nobody
• 8:21
  Speaker 3: knows the players and it's not it's no big deal, right,
• 8:24
  Speaker 3: So what happens is that the players on these teams,
• 8:27
  Speaker 3: they have a way to get into college with lower
• 8:31
  Speaker 3: SAT scores, lower ACT scores, lower you know, academic requirements.
• 8:35
  Speaker 3: So what they were doing is that now they were
• 8:36
  Speaker 3: paying off the coaches, right, they paid the college coaches
• 8:39
  Speaker 3: to put the kids on the team so they can
• 8:43
  Speaker 3: get in on that avenue as well. So now the
• 8:46
  Speaker 3: kids is on the squash team and he's never even
• 8:49
  Speaker 3: played squash. So a couple of schools got USC was
• 8:54
  Speaker 3: one of the schools, right, So USC, if a running
• 8:57
  Speaker 3: back doesn't show up to practice, everybody's going to know
• 8:59
  Speaker 3: what the running back like. That's you know, a big deal.
• 9:02
  Speaker 3: Nobody's checking to see if the rowing team shows up
• 9:06
  Speaker 3: the practice or not. Right, So now they have and
• 9:08
  Speaker 3: they was actually even photoshopping kids' faces on pictures to
• 9:12
  Speaker 3: make them seem like they were actually real athletes. Right,
• 9:14
  Speaker 3: So how does this all tie in? And so there's
• 9:15
  Speaker 3: always a plot twist, right, So how does this all
• 9:17
  Speaker 3: tie into everyday people? Is because as we spoke about before,
• 9:22
  Speaker 3: there's two sports that really fund the majority of every sport,
• 9:26
  Speaker 3: all the sports in college, right, and those two sports
• 9:29
  Speaker 3: are basketball and football. Right, So now you have basketball
• 9:33
  Speaker 3: and football, and we all know the demographics most of
• 9:36
  Speaker 3: the time of those sports, right, and those kids most
• 9:39
  Speaker 3: of the time aren't coming from very affluent families. Some do,
• 9:42
  Speaker 3: but most don't. Write middle class, low class, poor families.
• 9:45
  Speaker 3: So now you have those those two programs are funding
• 9:49
  Speaker 3: the other programs like water, polo, squash, sailing, all those teams. Right,
• 9:53
  Speaker 3: So now the funds that they're getting and it's helping
• 9:56
  Speaker 3: them run their programs. The wealthy pa parents are paying
• 10:01
  Speaker 3: those coaches to let their kids on the team, even
• 10:04
  Speaker 3: though those kids aren't actually on the team, just to
• 10:06
  Speaker 3: get into college. Right, So it all ties into the
• 10:09
  Speaker 3: idea of America and the weird combination of sports and education.
• 10:16
  Speaker 3: It's not normal to have sports and education tied together
• 10:20
  Speaker 3: in any part of the world other than America, right,
• 10:24
  Speaker 3: So part of the cheating scandual also was IMG Academy
• 10:28
  Speaker 3: in Florida.
• 10:29
  Speaker 2: You know that school?
• 10:30
  Speaker 3: Yes, So I am alumni of IMG Academy. So if
• 10:34
  Speaker 3: anybody's not familiar, I give you a quick rundown. IMG
• 10:36
  Speaker 3: Academy is one of the top prep schools in America,
• 10:39
  Speaker 3: if not the top prep school in America. And they
• 10:41
  Speaker 3: have a different approach whereas they build the academics around
• 10:46
  Speaker 3: the sports. Right, So sports is your main focus. You
• 10:49
  Speaker 3: go to school for whatever sports you're playing, and then
• 10:52
  Speaker 3: they kind of tailor make your athletic your academic requirements
• 10:55
  Speaker 3: around your sports. So you train for most of the
• 10:57
  Speaker 3: day and then you go to school for like part
• 10:59
  Speaker 3: time almost so it's a unique situation. So they had
• 11:03
  Speaker 3: the head of Academic Enrollment for Colleges or something. He
• 11:07
  Speaker 3: had a title something like that, Monstoy short he was
• 11:10
  Speaker 3: taking tests for kids to get him into college right
• 11:14
  Speaker 3: at IMG. So now it all comes down to this
• 11:19
  Speaker 3: is a billion dollar business. As we said before, the
• 11:20
  Speaker 3: NCAA and college sports. Right, so now college sports is
• 11:25
  Speaker 3: all being tied in with wealthy parents paying for their
• 11:29
  Speaker 3: kids to go to college, and they're using it on
• 11:32
  Speaker 3: the back of athletics to get their kids in via
• 11:37
  Speaker 3: one hundred thousand, five hundred thousand, seven hundred thousand dollars
• 11:41
  Speaker 3: that's going to coaches. So not everybody's getting paid in
• 11:44
  Speaker 3: this whole situation except except for the athletes that's making
• 11:47
  Speaker 3: all this possible.
• 11:48
  Speaker 2: The tennis coach at Texas or University of Texas ninety thousand.
• 11:53
  Speaker 2: He's a tennis coach. He got ninety thousand for a
• 11:55
  Speaker 2: kid to get into the school. Who's ever watched a
• 11:58
  Speaker 2: tennis match from Texas? Like you know what I'm saying, Like,
• 12:01
  Speaker 2: it just doesn't make sense.
• 12:03
  Speaker 3: Yeah, yeah, so yeah, So it's it's it's a very
• 12:06
  Speaker 3: it's a very complicated.
• 12:09
  Speaker 2: Yeah, I mean, it reeks of elitism and privilege. But
• 12:15
  Speaker 2: the question like that I had was like the why
• 12:17
  Speaker 2: why are they even doing this?
• 12:18
  Speaker 3: Right?
• 12:18
  Speaker 2: Because if you think about it, when you have families
• 12:22
  Speaker 2: who come from affluent neighborhoods and they come from wealth,
• 12:27
  Speaker 2: the college is kind of not even a necessity. Right,
• 12:31
  Speaker 2: you've already accumulated, your family is already a cumulated wealth.
• 12:34
  Speaker 2: Going to college won't guarantee that you accumulate anymore. Well, right,
• 12:37
  Speaker 2: if you have five hundred thousand dollars that pay the coach,
• 12:39
  Speaker 2: then why are you going to college? Right? Or you
• 12:42
  Speaker 2: could be learning the skills doing something else. Whereas every
• 12:45
  Speaker 2: time a kid like that gets in, you have a
• 12:46
  Speaker 2: kid who's busted their tail throughout their entire scholass of
• 12:49
  Speaker 2: career to have the opportunity and now they don't you
• 12:52
  Speaker 2: know what I'm saying. So it's like when a middle
• 12:54
  Speaker 2: class or people from low socioeconomic environments, when they go
• 12:58
  Speaker 2: to college, it's like that's our ticket to middle class,
• 13:00
  Speaker 2: Like we have to go to college because it'll give
• 13:02
  Speaker 2: us a good job and we can live in middle
• 13:03
  Speaker 2: class quote unquote life. And it's like, all right, well
• 13:06
  Speaker 2: college is the key, Well you already have that, so
• 13:09
  Speaker 2: like what's the why? Is like kind of puzzling to me.
• 13:12
  Speaker 3: And also, I mean we talked about basketball and football
• 13:15
  Speaker 3: funding these programs, but all about the kids that's actually
• 13:17
  Speaker 3: trying to get into college via squash right, Like it's
• 13:22
  Speaker 3: taking the spot from another kid right to get in
• 13:25
  Speaker 3: because you got a kid on the team that's not
• 13:27
  Speaker 3: even on the team.
• 13:28
  Speaker 2: Yeah, they didn't release the kids' names, but like the
• 13:30
  Speaker 2: one of the students that you will see, when he
• 13:33
  Speaker 2: went to the emissions office, they were like, oh, they
• 13:35
  Speaker 2: looked at his transfer and said, oh, oh you're on
• 13:37
  Speaker 2: the you run track and he was like, what, I
• 13:40
  Speaker 2: don't know what you're talking about. So sometimes the kids
• 13:42
  Speaker 2: didn't know. In fact, they wake Forest one of the
• 13:44
  Speaker 2: students who's in the investigation, they allowed her to stay
• 13:47
  Speaker 2: at the school because they found no evidence that she
• 13:50
  Speaker 2: knew that her parents had paid for her to be there.
• 13:53
  Speaker 2: So it's like crazy, because like, what do you do?
• 13:55
  Speaker 2: How do you reverse that? Because Stringing Singer's been doing
• 13:58
  Speaker 2: it for twenty five years, He's had eight hundred clients,
• 14:02
  Speaker 2: He's made twenty five million off of this scheme. What
• 14:04
  Speaker 2: do you do you revoke those degrees to the kids
• 14:07
  Speaker 2: who got paid right? How do you do it?
• 14:10
  Speaker 3: And this is something like I said, that the average
• 14:11
  Speaker 3: person isn't even thinking about right, And it just shows
• 14:13
  Speaker 3: you the disparity in this country. In the world too,
• 14:15
  Speaker 3: but especially in this country between the haves and the
• 14:18
  Speaker 3: have nots. Right, this is something that you know, the
• 14:20
  Speaker 3: average middle class, poor family, they're not even thinking about anything.
• 14:23
  Speaker 3: They don't even they're not even aware of this stuff, right,
• 14:25
  Speaker 3: So the extent that people will go to have their
• 14:29
  Speaker 3: kids succeed or sometimes, like you said, just to even
• 14:31
  Speaker 3: be a status symbol, it's obvious that it's not a
• 14:36
  Speaker 3: fair plane.
• 14:37
  Speaker 2: Like that said, like what you said, the status symbol,
• 14:40
  Speaker 2: like my kid is in Yale, or my kid went
• 14:42
  Speaker 2: to Harvard or he got into USC. It's like, really
• 14:45
  Speaker 2: like this kid, there's kids who are really actually trying
• 14:47
  Speaker 2: to get that done. We actually got a case in
• 14:50
  Speaker 2: Ohio in twenty eleven. It's this young this woman named
• 14:53
  Speaker 2: Kelly Williams Bowler, and she came back up in the
• 14:57
  Speaker 2: news because of this this scandal where she was facing
• 15:00
  Speaker 2: five years in prison because of an address fraud. She
• 15:04
  Speaker 2: lived in a part of Ohio where you know, poor neighborhood,
• 15:07
  Speaker 2: and she wanted her daughters to have a better life
• 15:10
  Speaker 2: or a better education, so she used her father's address, which
• 15:13
  Speaker 2: was in an affluent white neighborhood, and the school district
• 15:16
  Speaker 2: brought her up on charges for fraud. She was facing
• 15:18
  Speaker 2: five years in prison just because she just thought, hey,
• 15:22
  Speaker 2: a zoning issue. All right, I want to give my
• 15:24
  Speaker 2: kids the best education. Now, she didn't go to prison
• 15:26
  Speaker 2: for five years. I think she did ten days, but
• 15:28
  Speaker 2: even ten days, like, let's see how many of these
• 15:31
  Speaker 2: parents actually go to jail.
• 15:33
  Speaker 3: Well, we'll see, we'll see. So yeah, there you have it.
• 15:37
  Speaker 3: There you have it America. All right. So now we're
• 15:42
  Speaker 3: going to go into a very hot topic. Another thing
• 15:44
  Speaker 3: that we put on Instagram and see the reaction and
• 15:47
  Speaker 3: is brick and martar debt. Right, So this is something
• 15:49
  Speaker 3: that we try to talk about things that everybody can
• 15:53
  Speaker 3: relate to. And obviously everybody can relate to brick and martar,
• 15:56
  Speaker 3: whether you're a customer or business on it, right, because
• 15:58
  Speaker 3: most businesses are brick and more the businesses now, well
• 16:01
  Speaker 3: it's starting to change, but traditionally most small businesses are
• 16:04
  Speaker 3: brick and mortar. And everybody, you know, shops and brick
• 16:07
  Speaker 3: and mortar at some point, you know, in time. So
• 16:11
  Speaker 3: we're going to talk about brick and mortar dead right.
• 16:14
  Speaker 3: So the post that I actually put on Instagram, it
• 16:17
  Speaker 3: had pay Less closing locations. It had Macy's Clothing location,
• 16:22
  Speaker 3: Kmark Clothing location, see is clothing location. Radio shocks closed
• 16:26
  Speaker 3: Toys r US closed, and then it had Uber, which
• 16:29
  Speaker 3: is the biggest transportation company in the world, has no
• 16:32
  Speaker 3: physical cars. Right, Netflix, which is the biggest movie company
• 16:35
  Speaker 3: in the world, has no movie theaters. And Airbnb, which
• 16:38
  Speaker 3: is the biggest hotel company in the world, has no
• 16:41
  Speaker 3: physical hotels. So is Brick and Martar dead? And everything
• 16:46
  Speaker 3: transitioning to online virtually? We know that fifty one percent
• 16:51
  Speaker 3: of all shopping is done online right now, so it's
• 16:55
  Speaker 3: an interesting discussion to see is it dead or is
• 16:59
  Speaker 3: it just transitioning?
• 17:00
  Speaker 2: Yeah. I think in twenty seventeen the United States had
• 17:03
  Speaker 2: about eighty seven hundred stores closed and that was like
• 17:05
  Speaker 2: a whole time high. And we're in March and we
• 17:08
  Speaker 2: already have over five thousand store closings already in twenty nineteen,
• 17:13
  Speaker 2: so this is probably a record year for that. So
• 17:15
  Speaker 2: is it dead, I don't know. Is it adjusting? That's
• 17:18
  Speaker 2: a better question, and I think we have some cases
• 17:21
  Speaker 2: where we might see that it is adjusting.
• 17:23
  Speaker 3: Yeah, So all right, so Brick and Martin, right, in
• 17:28
  Speaker 3: my opinion, we'll just jump right into it. Is it dead? No,
• 17:31
  Speaker 3: I don't think it's dead, right, I think that the
• 17:33
  Speaker 3: old way of doing business is dead, right, and those
• 17:36
  Speaker 3: stores Macy's and Kmart and Sears. The reason why they're
• 17:42
  Speaker 3: dead or they're dying is that they haven't adjusted, right.
• 17:45
  Speaker 3: But if you look at like Amazon for instance, right,
• 17:48
  Speaker 3: So Amazon is interesting because Amazon is actually obviously the
• 17:56
  Speaker 3: giant of the virtual world, right, And we talked about
• 17:59
  Speaker 3: amaz Amazon and jay Z probably get mentioned in every
• 18:02
  Speaker 3: episode because it's just now it's unavoidable. But so Amazon
• 18:08
  Speaker 3: built their business model virtually, right. And then now what
• 18:13
  Speaker 3: they're doing is that they're transitioning into the brick and
• 18:15
  Speaker 3: mortar business. Right. So they brought Whole Foods right, well,
• 18:18
  Speaker 3: I think twelve million dollars a few years ago. Then
• 18:21
  Speaker 3: they have a bookstore, they have Amazon Bookstore, and now
• 18:25
  Speaker 3: they actually Amazon Go. You heard of that. So Amazon
• 18:30
  Speaker 3: Go is a cash list, a cashier list grocery store
• 18:33
  Speaker 3: that I think is in the UK. And that's like
• 18:36
  Speaker 3: their new forte into into grocery stores where no cashier is.
• 18:40
  Speaker 3: Everything is virtual. So what they're actually doing that they combinding, right,
• 18:43
  Speaker 3: So they combining their virtual dominance with the physical dominance
• 18:48
  Speaker 3: as well. And with Amazon, what they're really trying to
• 18:50
  Speaker 3: do is that they're trying to actually corner the market
• 18:53
  Speaker 3: in every way that you could possibly shop. Because everybody
• 18:56
  Speaker 3: knows that they have the online game on smash right out.
• 19:00
  Speaker 3: They have Amazon Echo, So Amazon Echo if anybody's not familiar,
• 19:05
  Speaker 3: that's like Alexa, where it's like a voice thing, voice
• 19:09
  Speaker 3: activated thing you speak to you can give orders and
• 19:11
  Speaker 3: you can order stuff via that way. Then they have
• 19:14
  Speaker 3: dash button. A lot of people don't even know what
• 19:16
  Speaker 3: dash button is. Dash button is only for Amazon Prime members.
• 19:20
  Speaker 3: The best way I can describe it like a USB
• 19:23
  Speaker 3: with a button on it, right, and they ship it
• 19:25
  Speaker 3: to you with items that you buy a lot of them.
• 19:27
  Speaker 3: So if you buy a lot of pop Tarts, then
• 19:29
  Speaker 3: you'll get a dash button with your pop tarts And
• 19:31
  Speaker 3: when your pop Tars is running low, when your pop
• 19:33
  Speaker 3: Tars runs up, you just hit the dash button and
• 19:36
  Speaker 3: more pop tost sent to you. Yeah, so it's the
• 19:40
  Speaker 3: same cereal hate that you can think of. So you
• 19:43
  Speaker 3: don't even have to go online, you don't have to
• 19:44
  Speaker 3: give a voice. All you have to do is just
• 19:45
  Speaker 3: literally press a button now. And then they have the
• 19:48
  Speaker 3: physical store, so they really those four things combined, they're
• 19:52
  Speaker 3: going to corner the market with any way that a
• 19:54
  Speaker 3: person could actually shop they're going to be involved. And
• 19:57
  Speaker 3: then also they want to move into fashion, and that's.
• 20:00
  Speaker 2: An interesting cosmetics as well.
• 20:02
  Speaker 3: Yes, cosmetic as well. So people still like to feel
• 20:05
  Speaker 3: the fabric and still try things on, even though a
• 20:07
  Speaker 3: lot of times people shop online. Me personally, I do both.
• 20:10
  Speaker 3: So with Amazon moving into the physical locations, that's going
• 20:12
  Speaker 3: to help them out with fashion as well.
• 20:14
  Speaker 2: They said that you can they can send you to close,
• 20:16
  Speaker 2: you can try them on, and if you don't like them,
• 20:18
  Speaker 2: sending it back. I believe. I think they have that
• 20:20
  Speaker 2: as part as the business.
• 20:21
  Speaker 3: Now that makes sense. I mean that's like most online.
• 20:23
  Speaker 2: Yeah, I mean that's dope. Yeah, you don't have to
• 20:25
  Speaker 2: leave your own to do it.
• 20:26
  Speaker 3: So and then also what I like to do personally,
• 20:29
  Speaker 3: I order stuff online that from a store that I
• 20:31
  Speaker 3: know I can bring it back to if it doesn't fit.
• 20:34
  Speaker 3: So if it doesn't fit, then I could just bring
• 20:35
  Speaker 3: it back to the physical location as opposed to having
• 20:37
  Speaker 3: to go through the hassle of bringing it to the
• 20:39
  Speaker 3: So I think that there's still room for breaking Martin right.
• 20:43
  Speaker 3: And you're gonna talk about an interesting story that a
• 20:45
  Speaker 3: Brick and Martyr company that has actually got it right.
• 20:48
  Speaker 2: Yeah, they got it right, and they're actually like a
• 20:49
  Speaker 2: case study in the Wall Street Journal. But a couple
• 20:53
  Speaker 2: of ones that didn't work, you said, were like Mazie's
• 20:55
  Speaker 2: closing store, JAG's, Penny's clothing store, Kmart. But TJ Max
• 20:59
  Speaker 2: has actually got it right. So TJ Max they own
• 21:04
  Speaker 2: a few companies. They owned Marshals, and they own home Goods,
• 21:07
  Speaker 2: and they rely solely on Brick and Martin right, So
• 21:09
  Speaker 2: their stores, I think they have about thirty hundred stores.
• 21:12
  Speaker 2: They were like all that revenue pretty much comes to that.
• 21:14
  Speaker 2: They don't really do too much online advertising or trying
• 21:18
  Speaker 2: to build their site. And when we see stores closing,
• 21:22
  Speaker 2: they're saying no, they've seen for thirty three straight quarters
• 21:26
  Speaker 2: up until twenty eighteen, I believe, well, their profits has increased,
• 21:30
  Speaker 2: so thirty three straight quarters. They're seeing people coming in
• 21:32
  Speaker 2: their stores shopping, buying things. And if you've shopped at
• 21:35
  Speaker 2: TJ Max for monstrels, you know that you're getting discounted
• 21:39
  Speaker 2: prices on brands, high end brands, that discount of prices.
• 21:43
  Speaker 2: But the brilliant strategy that they use is they turned
• 21:45
  Speaker 2: it into a shopping hunt. It's like you go into
• 21:48
  Speaker 2: these stores and it's like, hey, I found a bargain here,
• 21:52
  Speaker 2: Whereas right whereas in like stores like JC Pennies, it's like, hey,
• 21:57
  Speaker 2: this is the Polo section, this is the Nike section,
• 22:00
  Speaker 2: this is Tommy hill Finger section. TJ max is like,
• 22:03
  Speaker 2: you know what, We're gonna call this active where and
• 22:05
  Speaker 2: we're gonna put all those brands there and you go
• 22:07
  Speaker 2: hunt for the deal. So sometimes you'll find things in
• 22:10
  Speaker 2: there that's like, oh, this is sixty percent off. All right,
• 22:13
  Speaker 2: that's a bargain now if I buy it and you
• 22:15
  Speaker 2: go and you might not find it because it's like
• 22:17
  Speaker 2: that's the part of the skyvage hind it's all right,
• 22:19
  Speaker 2: well I got it now, you gotta wait. The other
• 22:21
  Speaker 2: thing that they do is they reinvent their They get
• 22:24
  Speaker 2: new inventory like every twenty one days. So like stores
• 22:27
  Speaker 2: like Macy's and J. C. Penny they don't have that
• 22:28
  Speaker 2: type of turnover. So TJ max is like, the inventory's
• 22:32
  Speaker 2: coming in, it's limited. People know that they're gonna get
• 22:35
  Speaker 2: a bargain there, they get it. Twenty one days later,
• 22:37
  Speaker 2: it's gone all of it, and then they get more
• 22:39
  Speaker 2: in right, so like their sales have exceeded norsetrom and
• 22:43
  Speaker 2: J C. Penny's combined TJ Max. Nobody's even thinking about that, right, right,
• 22:48
  Speaker 2: So like that's key. So if it's if it's dead,
• 22:52
  Speaker 2: then how is this thriving? They've got it.
• 22:54
  Speaker 3: Right, TJ MaTx. You know what I thought to think
• 22:56
  Speaker 3: about TJ Max. When I was young, they pine near
• 23:00
  Speaker 3: the layaway system. Remember that. I don't know if you
• 23:04
  Speaker 3: I don't know if you did that, but I did
• 23:05
  Speaker 3: that before. I did that when I was a kid
• 23:07
  Speaker 3: from I did that on clothes.
• 23:09
  Speaker 2: I say, yes, they had.
• 23:10
  Speaker 3: It lay away system where you can put clothes on
• 23:13
  Speaker 3: lay away. Yeah, I don't know, but uh yeah, that's
• 23:19
  Speaker 3: how important fashion was as a kid.
• 23:22
  Speaker 2: So there are some other companies that have that model
• 23:25
  Speaker 2: of like we'll bring a bunch of brands into a store,
• 23:28
  Speaker 2: like a SIMS which is out of business and Filing's basement.
• 23:30
  Speaker 2: They're out of business. And if you look at that
• 23:32
  Speaker 2: their strategy that their stores were so big and everything
• 23:36
  Speaker 2: was everywhere whereas TJ Mass you can look up all right,
• 23:39
  Speaker 2: that's a women's sestion, that's men's section. This is kids
• 23:41
  Speaker 2: active where it's very concentrated and it's easy to find
• 23:45
  Speaker 2: the things. So like like I said, That's.
• 23:48
  Speaker 3: One of the problems, especially like with Sears, is that
• 23:51
  Speaker 3: it's hard to be a master of all trades. Right,
• 23:55
  Speaker 3: So you go into seis, you can buy tires, you
• 23:57
  Speaker 3: can buy swimming whear, you can buy and there's nobody
• 24:00
  Speaker 3: to help you. You got to try to figure it
• 24:02
  Speaker 3: out on your own, and it becomes difficult. It becomes
• 24:05
  Speaker 3: very difficult.
• 24:06
  Speaker 2: So like that strategy like and like I said, that's
• 24:09
  Speaker 2: an artible, Like they're trying to figure out how are
• 24:11
  Speaker 2: they doing this right? If Breaking mart is dead, and
• 24:14
  Speaker 2: how is TJ max thriving?
• 24:16
  Speaker 3: So TJ max is thriving? And I wanted to bring it.
• 24:21
  Speaker 2: Erners, what's up? You ever walk into a small business
• 24:23
  Speaker 2: and everything just works, Like the checkout is fast, the
• 24:26
  Speaker 2: receipts are digital, tipping is a breeze, and you're out
• 24:30
  Speaker 2: the door before the line even builds. Odds are they're
• 24:34
  Speaker 2: using Square? We love supporting businesses that run on Square
• 24:37
  Speaker 2: because it just feels seamless. Whether it's a local coffee shop,
• 24:40
  Speaker 2: a vendor at a pop up market, or even one
• 24:43
  Speaker 2: of our merch partners. Square makes it easy for them
• 24:46
  Speaker 2: to take payments, manage inventory, and run their business with confidence.
• 24:50
  Speaker 2: All from one simple system. If you're a business owner
• 24:54
  Speaker 2: or even just thinking about launching something soon, Square is
• 24:57
  Speaker 2: hands down one of the best tools out there that
• 25:00
  Speaker 2: help you start, run, and grow. It's not just about payments,
• 25:04
  Speaker 2: it's about giving you time back so you can focus
• 25:07
  Speaker 2: on what matters most ready. To see how Square can
• 25:09
  Speaker 2: transform your business, visit Square dot com backslash, go backslash
• 25:14
  Speaker 2: eyl to learn more that Square dot com backslash, go
• 25:19
  Speaker 2: backslash eyl. Don't wait, don't hesitate, Let Square handle the
• 25:23
  Speaker 2: back end so you can keep pushing your vision forward.
• 25:29
  Speaker 2: This episode is brought to you by P and C Bank.
• 25:32
  Speaker 2: A lot of people think podcasts about work are boring,
• 25:35
  Speaker 2: and sure, they definitely can be, but understanding a professionals
• 25:39
  Speaker 2: routine shows us how they achieve their success little by little,
• 25:42
  Speaker 2: day after day. It's like banking with P and C Bank.
• 25:46
  Speaker 2: It might seem boring to save, plan and make calculated
• 25:49
  Speaker 2: decisions with your bank, but keeping your money boring is
• 25:52
  Speaker 2: what helps you live or more happily fulfilled life. P
• 25:56
  Speaker 2: and C Bank Brilliantly Boring since eighteen sixty five. Brilliantly
• 26:01
  Speaker 2: boring since eighteen sixty five is a service mark of
• 26:03
  Speaker 2: the PNC Financial Service Group Inc. P and C Bank
• 26:07
  Speaker 2: National Association member ATDIC.
• 26:11
  Speaker 4: An illegal alien from Guatemala charged with raping a child
• 26:15
  Speaker 4: in Massachusetts. An MS thirteen gang member from Al Salvador
• 26:19
  Speaker 4: accused of murdering a Texas. Man of Venezuelan charged with
• 26:23
  Speaker 4: filming and selling child pornography in Michigan. These are just
• 26:27
  Speaker 4: some of the heinous migrant criminals caught because of President
• 26:31
  Speaker 4: Donald J. Trump's leadership. I'm Christy Noman, the United States
• 26:34
  Speaker 4: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 26:39
  Speaker 4: crossings are at the lowest levels ever recorded, and over
• 26:43
  Speaker 4: one hundred thousand illegal aliens have been arrested. If you
• 26:46
  Speaker 4: are here illegally, your next you will be fined nearly
• 26:50
  Speaker 4: one thousand dollars a day, imprisoned, and deported. You will
• 26:54
  Speaker 4: never return. But if you register using our CBP home
• 26:58
  Speaker 4: app and leave now, you could be allowed to return legally.
• 27:01
  Speaker 4: Do what's right, leave now. Under President Trump, America's laws,
• 27:06
  Speaker 4: border and families will be protected.
• 27:09
  Speaker 2: Sponsored by the United States Department of Homeland.
• 27:11
  Speaker 3: Security closer to Because we try to relate to the
• 27:13
  Speaker 3: everyday people, right and brick and martars so there's three
• 27:17
  Speaker 3: types of brick and martar businesses that most entrepreneurs that's
• 27:21
  Speaker 3: just getting started, especially you know in our community, they
• 27:24
  Speaker 3: always want to start, right, And that is a restaurant.
• 27:27
  Speaker 3: I know he's gonna say, that's a hair salon or
• 27:30
  Speaker 3: barbershop and a clothing store.
• 27:33
  Speaker 2: Sound pretty right, pretty common, That's about right.
• 27:36
  Speaker 3: So all right, we've all seen how barbershops and hair
• 27:41
  Speaker 3: salons are cash cows, right, especially hair salons. We have
• 27:44
  Speaker 3: to do a whole thing about that.
• 27:45
  Speaker 2: But yeah, that's like personally, I know that.
• 27:49
  Speaker 3: No, especially black women's here. That is a billion dollar industry.
• 27:53
  Speaker 2: We have an episode on that. That's a fact.
• 27:55
  Speaker 3: And barbershops along staple in the community. Restaurants that's one
• 28:00
  Speaker 3: of the hardest businesses to succeed, and we're gonna have
• 28:02
  Speaker 3: we got a special situation about the restaurant. But everybody,
• 28:07
  Speaker 3: for some reason, they still want to open restaurants. I
• 28:10
  Speaker 3: don't know why. But you see one restaurant I succeed,
• 28:13
  Speaker 3: you see hundred failed. And then the clothing store. Right,
• 28:18
  Speaker 3: so clothing store. So I'm gonna tell a personal story
• 28:20
  Speaker 3: about the clothing store. So the people that don't know
• 28:22
  Speaker 3: a financial advisor that's what I do for a living.
• 28:24
  Speaker 2: Right.
• 28:25
  Speaker 3: So I had a young lady coming to my office
• 28:30
  Speaker 3: a few months ago, and she's a social media influencer.
• 28:34
  Speaker 3: I won't say her name, but she's a social media influencer.
• 28:36
  Speaker 3: She's real big on social media. She has around like,
• 28:38
  Speaker 3: let's say, two point five million followers on Instagram. So
• 28:42
  Speaker 3: she comes to me and she's having problems with her business. Right.
• 28:46
  Speaker 3: So we're talking about the business and I'm getting the information.
• 28:50
  Speaker 3: We're going over to numbers, and she's bleeding money on
• 28:53
  Speaker 3: her clothing store. She has a clothing store. Right, So
• 28:55
  Speaker 3: she has a clothing store in the suburbs of New York,
• 28:59
  Speaker 3: and she's paid saying twelve thousand dollars a month in
• 29:02
  Speaker 3: RNT in them all, and her overhead she has, you know,
• 29:07
  Speaker 3: overhead about total probably twenty thousand dollars a month. Right,
• 29:12
  Speaker 3: And I'm telling her, like, well, why don't you just
• 29:14
  Speaker 3: do it online? And she was saying how online? She
• 29:18
  Speaker 3: used to make like eight thousand dollars a month online
• 29:21
  Speaker 3: right before she actually had the store. So you don't
• 29:24
  Speaker 3: have to be a rocket scientist to figure this out.
• 29:26
  Speaker 3: So I'm like, okay, you have two point five million
• 29:28
  Speaker 3: followers on Instagram Right now, New York is probably your
• 29:30
  Speaker 3: biggest market because you're from New York, but your store
• 29:34
  Speaker 3: is not even in the city. It's in the suburbs, right,
• 29:37
  Speaker 3: so probably let's say two percent of your followers can
• 29:41
  Speaker 3: actually go to your physical location, right, So you're not
• 29:45
  Speaker 3: leveraging your social media power, right. Why don't you have
• 29:49
  Speaker 3: online presence where any follower, no matter where they live,
• 29:54
  Speaker 3: whether it's Germany, Australia, California, Connecticut, they can shop online
• 29:58
  Speaker 3: twenty four hours a day, right a physical location. You're
• 30:01
  Speaker 3: already limiting yourself geographically.
• 30:02
  Speaker 2: That's what we said, like this episode on can the
• 30:05
  Speaker 2: consumer get the product?
• 30:06
  Speaker 3: Oh yeah, exactly, that's the biggest thing. Can it consumer
• 30:08
  Speaker 3: get the product or you're already limiting yourself geographically right now,
• 30:12
  Speaker 3: Not only are you limiting yourself geographically, you're spending a
• 30:16
  Speaker 3: ton of money on overhead, right And that's the problem
• 30:18
  Speaker 3: with brick and marts. So this is the real problem
• 30:20
  Speaker 3: with brick and Martar is that the money that is
• 30:22
  Speaker 3: being spent on overhead and you're not bringing up revenue
• 30:25
  Speaker 3: in so now you have to see if it really
• 30:28
  Speaker 3: makes sense. And this is why a lot of restaurants.
• 30:30
  Speaker 3: This is why most businesses fail regardless, but it's harder
• 30:33
  Speaker 3: for brick and mortar businesses because now you have to
• 30:36
  Speaker 3: pay your rent every month regardless, You got to pay
• 30:37
  Speaker 3: your capabil of life bill. You got to pay your
• 30:39
  Speaker 3: employees every month, whether you make money or not. Right,
• 30:41
  Speaker 3: so you have a good month, Okay, if you have
• 30:43
  Speaker 3: a bad month, nobody wants to hear you still got
• 30:45
  Speaker 3: to pay money.
• 30:46
  Speaker 2: Right.
• 30:46
  Speaker 3: Where you have an online business, you have expenses, but
• 30:49
  Speaker 3: nowhere near the brick and mortar. So, especially for something
• 30:52
  Speaker 3: like clothes, we look at fashion Over. We talked about
• 30:54
  Speaker 3: fashion Over before, but I don't I personally don't see
• 30:59
  Speaker 3: how it makes sense for a brick and martar fashion
• 31:04
  Speaker 3: business to succeed. Not to say that they can't succeed,
• 31:07
  Speaker 3: but it would have to be really tied in with
• 31:10
  Speaker 3: online presence and just have like a flagship store like
• 31:12
  Speaker 3: Fashion Over has like four stores, but those are more
• 31:15
  Speaker 3: like flagship stores.
• 31:16
  Speaker 2: Right.
• 31:16
  Speaker 3: I don't personally see how it makes sense to have
• 31:19
  Speaker 3: a brick and martar as your sole only store for
• 31:23
  Speaker 3: something like fashion.
• 31:24
  Speaker 2: So what we're seeing now is that people are starting online.
• 31:27
  Speaker 2: Like these small business they start online and when they
• 31:29
  Speaker 2: generate enough revenue, then they'll create a store, a brick
• 31:32
  Speaker 2: and martar store. Because it's like, all right now, and
• 31:34
  Speaker 2: this is one of the keys that people are trying
• 31:36
  Speaker 2: to adapt to, is like we have to create an
• 31:38
  Speaker 2: experience for these customers for them to come. So like, yeah,
• 31:41
  Speaker 2: that that young lady might have that store in New York.
• 31:44
  Speaker 2: But if they're having experiences in that store that they
• 31:47
  Speaker 2: can only get there, then people might fly.
• 31:49
  Speaker 3: Yeah, you gotta have something. There's a donuts shop in
• 31:53
  Speaker 3: New York and it's called its cro Nuts. Actually this
• 31:56
  Speaker 3: is a combination between croissants and donuts. Long story short.
• 31:59
  Speaker 3: People wait on line at like five o'clock in the morning.
• 32:01
  Speaker 3: They only sell like one hundred per day. It's a
• 32:02
  Speaker 3: limited You got to have some kind of gimmicks something
• 32:04
  Speaker 3: like that. So people are coming from a low Oh,
• 32:06
  Speaker 3: but you also have to combine. Even if we look
• 32:08
  Speaker 3: at the restaurant business, right, so now Uber Eats is
• 32:10
  Speaker 3: killing it, right, So now you have a physical location
• 32:13
  Speaker 3: where you're making food, but people can still go into
• 32:16
  Speaker 3: app and order it. And now you have a delivery
• 32:18
  Speaker 3: service that's delivering them food as well. And even if
• 32:21
  Speaker 3: you look at the mail prep business, that's huge as
• 32:23
  Speaker 3: far as even mailing people food. Like so, I think
• 32:27
  Speaker 3: in order to survive in today's climate, you have to
• 32:30
  Speaker 3: at the very least combined both. You can't just be
• 32:33
  Speaker 3: Bricking Martin adapting adjusts. You have to adapt and adjust.
• 32:36
  Speaker 3: But I don't think Brick and Martin is totally dead,
• 32:38
  Speaker 3: but I think in some industries it just doesn't make
• 32:40
  Speaker 3: sense in my opinion.
• 32:41
  Speaker 2: If we look at the number one company in the world, Apple,
• 32:43
  Speaker 2: they keep building stores, so it's like, what you know
• 32:46
  Speaker 2: what I mean, like this this isn't going anywhere. And
• 32:48
  Speaker 2: Apple has a unique model, right they have this customer
• 32:51
  Speaker 2: when they hire employees, they have this model. They live
• 32:54
  Speaker 2: by the acronym app l E. So what that means
• 32:58
  Speaker 2: is like, the first A is number one. We have
• 33:01
  Speaker 2: to approach the customers. So if you walk into an
• 33:03
  Speaker 2: Apple store, you'll notice that there's a lot of employees
• 33:06
  Speaker 2: in it, so there's enough for everybody to have a
• 33:08
  Speaker 2: one on one relationship with the employee. The second thing
• 33:12
  Speaker 2: is that they probe so they'll listen, Hey, why are
• 33:15
  Speaker 2: you here today? Can we help you with something? The
• 33:17
  Speaker 2: next thing is present after they hear what you come
• 33:20
  Speaker 2: to the store for, then they'll say, all right, well,
• 33:22
  Speaker 2: here are some things that can help you. Here's a
• 33:24
  Speaker 2: product that can help what you're trying to do. The
• 33:26
  Speaker 2: next thing they do is they listen, right, They listen
• 33:28
  Speaker 2: to say, all right, well you've told me the problem.
• 33:31
  Speaker 2: I've given you a solution. What do you think about it? Right?
• 33:35
  Speaker 2: Usually people buy the product or they'll say, you know what,
• 33:37
  Speaker 2: I'll come back, and then that leads to the e.
• 33:39
  Speaker 2: It's like the end. Hey, thanks for coming. I'd love
• 33:43
  Speaker 2: to see you come back. And a lot of times
• 33:44
  Speaker 2: Apple customers are loyal. They'll come back just because of
• 33:47
  Speaker 2: the customer service and while they wait, which is unique
• 33:49
  Speaker 2: to Apple, they can use the products. Like how many
• 33:52
  Speaker 2: times do you go in to the stores and kids
• 33:53
  Speaker 2: are adults are using the products while they're waiting, or
• 33:57
  Speaker 2: they're taking a class at the store while they're waiting.
• 34:00
  Speaker 2: So you got to have these in store experiences that
• 34:02
  Speaker 2: are unique to your store to generate the customers. So
• 34:04
  Speaker 2: it doesn't matter like if you have a great online presence,
• 34:07
  Speaker 2: you can't get this experience anywhere else, but coming to
• 34:10
  Speaker 2: the store.
• 34:11
  Speaker 3: That's pretty powerful. The acronym is pretty powerful for any
• 34:15
  Speaker 3: business owner. But yeah, well, brick and mortar business. As
• 34:19
  Speaker 3: I said, you know, I think that it's not dead,
• 34:21
  Speaker 3: but you have to find a way to combine the
• 34:24
  Speaker 3: two if you want to survive. And this is what
• 34:26
  Speaker 3: this show is about. We want to teach entrepreneurship and
• 34:28
  Speaker 3: help you out, help your business out.
• 34:29
  Speaker 2: So yeah, last note, like we had, we spoke about Tesla.
• 34:33
  Speaker 2: Tesla one of the stories. They completely did away with
• 34:35
  Speaker 2: all their stores, right, and we said that pay Lessons
• 34:38
  Speaker 2: closing stores. That's closed, Jimbarea has closed, Charlot, A lot
• 34:40
  Speaker 2: of the stores have closed because they couldn't adaptay pay
• 34:42
  Speaker 2: Lesson is one of those that just didn't adapt. Online
• 34:44
  Speaker 2: experience was terrible. They were still relying on print at
• 34:47
  Speaker 2: they couldn't adapt. So you see what happened to them.
• 34:50
  Speaker 3: Yeah, well, it's a jungle out here.
• 34:53
  Speaker 2: Gott to survive, all right, ladies and gentlemen. It's our
• 34:57
  Speaker 2: favorite time of the episode, storytelling.
• 35:00
  Speaker 3: Here's a little story that must be told.
• 35:02
  Speaker 2: Listen up, gangsters and honeys, with your head done, the
• 35:05
  Speaker 2: best story tell us right, I'm gonna say if.
• 35:07
  Speaker 3: Pray down, it's gray down, it's pray down, it's gray down.
• 35:09
  Speaker 2: It's gray down.
• 35:09
  Speaker 3: All right, boys and girls, So we are going to
• 35:13
  Speaker 3: tell a story. If you follow the show, you know
• 35:16
  Speaker 3: that this is my favorite part of the show.
• 35:19
  Speaker 2: Every time.
• 35:20
  Speaker 3: The last segment is story time, and today we have
• 35:23
  Speaker 3: a very special story, very interesting story, and we're going
• 35:28
  Speaker 3: to talk about the best sports deal ever made.
• 35:30
  Speaker 2: Is said that when you say the word interesting, that
• 35:32
  Speaker 2: means it's about to get real. That's a fact, It's
• 35:35
  Speaker 2: about to get real.
• 35:35
  Speaker 3: So this this is the best sports deal ever made
• 35:38
  Speaker 3: in history, the history of sports. Right. So in the
• 35:41
  Speaker 3: nineteen seventies, there was a league called the.
• 35:44
  Speaker 2: ABA American Basketball Association. Right.
• 35:47
  Speaker 3: So there was the NBA, which everybody knows about the NBA, right,
• 35:50
  Speaker 3: but then there was the ABA. So the best way
• 35:52
  Speaker 3: I could really describe the ABA. If anybody's a football fan,
• 35:55
  Speaker 3: remember the AFL.
• 35:57
  Speaker 2: Yeah, so even not an XFL, but.
• 36:00
  Speaker 3: The AFL, it was pretty big. At one point they
• 36:03
  Speaker 3: had Herschel Walker thing.
• 36:04
  Speaker 2: Yeah in the eighties.
• 36:05
  Speaker 3: Yeah, so the NFL was a was a football league
• 36:08
  Speaker 3: in the eighties and they was just wild, like they
• 36:09
  Speaker 3: had the cheerleaders, just it was the whole vibe.
• 36:13
  Speaker 2: Was just like they wanted to be everything in the NFL. Wan.
• 36:15
  Speaker 3: Yeah, it was just more renegade, you know, it would.
• 36:17
  Speaker 2: Be better like w w F and w C W okay,
• 36:21
  Speaker 2: you know that was for the kids.
• 36:23
  Speaker 3: Similar similar. So the a BA was like the NBA
• 36:26
  Speaker 3: at the time was kind of boring. It was like
• 36:28
  Speaker 3: the Celtics, you know, just blue collar. You know, it's
• 36:32
  Speaker 3: just kind of boring. For the a BA. They had
• 36:35
  Speaker 3: the striped basketball, they had the cheerleaders, they had the
• 36:38
  Speaker 3: Duncan and they had good players too.
• 36:39
  Speaker 2: They had great play.
• 36:40
  Speaker 3: They had Doctor j they had Moses Malone, David Thompson,
• 36:45
  Speaker 3: David Thompson, so they had like George Gervin Iceman. So
• 36:48
  Speaker 3: the ABA was just like flails like street ball. That's
• 36:51
  Speaker 3: that's that's the that's the comparison. A BA was like
• 36:53
  Speaker 3: the an one street ball, like the Rucker stuff like
• 36:56
  Speaker 3: that All.
• 36:56
  Speaker 2: Star game like that comes from the NBA. All the festivity,
• 36:59
  Speaker 2: the All Star Game, all that contest.
• 37:01
  Speaker 3: Yeah, ABA exactly. So ABA was they was They was
• 37:04
  Speaker 3: for excitement, right, but financially they it just wasn't working
• 37:08
  Speaker 3: out for them, right. So what happened is that there
• 37:11
  Speaker 3: was seven teams in the ABA and the NBA wanted
• 37:15
  Speaker 3: to merge, right because it was just then made sense
• 37:19
  Speaker 3: to just kind of compete with them, and the ABA
• 37:20
  Speaker 3: was kind of one the last leg financially, so the
• 37:22
  Speaker 3: NBA went to them and they proposed the merger. Right,
• 37:26
  Speaker 3: so the merger, the ABA accepted the merger, and it
• 37:31
  Speaker 3: was seven teams at the time, so four teams were
• 37:35
  Speaker 3: brought into the NBA. Those four teams were the Nets,
• 37:37
  Speaker 3: the Nuggets, the Pacers, and the Spurs, which are still
• 37:40
  Speaker 3: in the NBA today, right, And then so that was
• 37:42
  Speaker 3: three more teams left. So one team Virginia. They they
• 37:46
  Speaker 3: actually fizzled out and they didn't they didn't get brought
• 37:51
  Speaker 3: in because they just didn't make it right. They bullied up.
• 37:54
  Speaker 3: So that that left two teams. Right, So you had Kentucky,
• 37:59
  Speaker 3: the team from Ducky Kentucky, I think Colonels, Kentucky Colonels.
• 38:02
  Speaker 2: You know what crazy about them? The crazy thing about
• 38:05
  Speaker 2: them is that they were owned by the owner of
• 38:07
  Speaker 2: Kentucky Fried Chicken. Yes, which is crazy John Brown. Yeah.
• 38:10
  Speaker 2: So the NBA buys him out for three million dollars
• 38:12
  Speaker 2: at the time, nineteen seventy six. Like that's a lot
• 38:15
  Speaker 2: of money, but this is like that's a side business
• 38:17
  Speaker 2: for me, Like I got Kentucky Fried Chicken. So he
• 38:19
  Speaker 2: takes the.
• 38:19
  Speaker 3: Deal, and he also was the own he became the
• 38:23
  Speaker 3: governor of Kentucky.
• 38:24
  Speaker 2: Yeah, govern of Kentucky.
• 38:25
  Speaker 3: Two yeah, sor right. So they had the Kentucky Colonels
• 38:29
  Speaker 3: and the Saint Louis Squire.
• 38:32
  Speaker 2: Spirits spirits, sake Lewis Spirits.
• 38:35
  Speaker 3: So they offer the Kentucky team and the Saint Louis
• 38:39
  Speaker 3: team three million dollars as a buyout. Kentucky takes it, right,
• 38:44
  Speaker 3: Saint Louis says, it's not so fast, not interested, not interested.
• 38:50
  Speaker 2: Well, they said no because they had the vision. They
• 38:53
  Speaker 2: were like, look, well, before you go to that, before
• 38:55
  Speaker 2: you go to that. So they said no, right, But
• 38:58
  Speaker 2: they had good talent. Yeah, they had Moses Malone a
• 39:02
  Speaker 2: few other players, right, yeah, I think that was his
• 39:04
  Speaker 2: rookie year in nineteen seventy six. He's the first man.
• 39:06
  Speaker 3: Child first, he's the first person to come from high school.
• 39:10
  Speaker 2: He's the first man to professional. Right.
• 39:12
  Speaker 3: So they rejected it, right, And the owners of the
• 39:14
  Speaker 3: team they had it was two brothers, Ozzie and Dan
• 39:18
  Speaker 3: and what's the last.
• 39:19
  Speaker 2: Name Silna Silna.
• 39:22
  Speaker 3: And Dan Silna. So what they negotiated was a two
• 39:26
  Speaker 3: million dollar buyout and a part of the four teams
• 39:32
  Speaker 3: that were going into the NBA TV rights. So they
• 39:36
  Speaker 3: got one seventh of the TV rights of those four
• 39:39
  Speaker 3: teams that went to the NBA. Right, So, at the
• 39:42
  Speaker 3: time TV wasn't really big. It was like black and
• 39:45
  Speaker 3: white and things with the wire or stuff like that.
• 39:47
  Speaker 3: They was the seventies barely, but nobody was making nobody
• 39:52
  Speaker 3: was making money on team yet, so they say, okay,
• 39:55
  Speaker 3: one seventh of four teams TV rights. They were so
• 40:02
  Speaker 3: eager to get the deal. The NBA just wanted to
• 40:03
  Speaker 3: get the deal done, right, say so, give them two
• 40:05
  Speaker 3: million and give them one seventh and let it, you know,
• 40:09
  Speaker 3: let them go on their way.
• 40:10
  Speaker 2: At that time, I think the biggest start in the NBA.
• 40:12
  Speaker 2: You have Oscar Robinson, Kareem Abdul Jabbar, and doctor Jay
• 40:18
  Speaker 2: is right there on that line was becoming superstar. Bill
• 40:21
  Speaker 2: Russell probably is one of the big stars. No, Bill Russell,
• 40:23
  Speaker 2: Bill Walton, Bill Walton.
• 40:27
  Speaker 3: Okay, so all right, so now this is nineteen seventy six,
• 40:33
  Speaker 3: seventy six, nineteen seventy six, so a few years past
• 40:38
  Speaker 3: in the eighties, come and Larry Bird and Maggie Johnson
• 40:44
  Speaker 3: coming to the league, right, yeah, And the NBA changes fever. Right.
• 40:49
  Speaker 3: And then a few years after Larry Bird and Magic
• 40:52
  Speaker 3: Johnson coming to the league, is this guy Michael.
• 40:55
  Speaker 2: Jordan, Michael Jeffrey Jordan.
• 40:57
  Speaker 3: And then the league changes even more forever far.
• 41:00
  Speaker 2: Yeah, obviously landscape and now TV.
• 41:02
  Speaker 3: So now television television comes into play, right, and you
• 41:05
  Speaker 3: have a network called ESPN, and now sports is just
• 41:10
  Speaker 3: American television staple. Right, everybody watching sports on TV now
• 41:14
  Speaker 3: in the eighties nineties, So now what happened as nobody
• 41:19
  Speaker 3: would ever watch sports on TV. Let's just give these
• 41:21
  Speaker 3: guys one seventh. They ended up as the league rule
• 41:24
  Speaker 3: to the league for the thirty teams, right, So their
• 41:27
  Speaker 3: TV revenue, those the two brothers equal two percent of
• 41:32
  Speaker 3: the total TV revenue for the NBA. Right, So every
• 41:36
  Speaker 3: year they got two percent of TV revenue in perpetuity.
• 41:42
  Speaker 3: That was the best part of the deal. It was
• 41:43
  Speaker 3: in perpetuite. It's no end dates forever.
• 41:46
  Speaker 2: They's so you want to just tell them what perpetuities
• 41:48
  Speaker 2: People don't even know.
• 41:49
  Speaker 3: Yeah, perpetuity means forever, continuous, that's the easy answer, continuous answer.
• 41:54
  Speaker 3: So so now they have two percent of all NBA
• 41:57
  Speaker 3: TV revenue forever. Right, So this thing is one of
• 42:03
  Speaker 3: the most embarrassing things that the NBA has ever dealt with, right,
• 42:07
  Speaker 3: because they end up paying these guys three hundred million
• 42:11
  Speaker 3: dollars right from they started from nineteen seventy six to
• 42:15
  Speaker 3: twenty fourteen.
• 42:16
  Speaker 2: The crazy part is that from seventy six to seventy
• 42:19
  Speaker 2: nine they didn't make a dollar, but from eighty to
• 42:22
  Speaker 2: ninety seven or eighty to like two thousands to two thousand,
• 42:25
  Speaker 2: three hundred million.
• 42:26
  Speaker 3: Three hundred million, twenty fourteen eight it was three hundred million.
• 42:29
  Speaker 2: Right.
• 42:30
  Speaker 3: So finally twenty fourteen, the NBA they're going to reap.
• 42:34
  Speaker 2: On the TV deal right right, so like they're about
• 42:35
  Speaker 2: to They had a few TV deals prior. They had
• 42:38
  Speaker 2: one with NBC and then they had one with ESPN,
• 42:41
  Speaker 2: and right, like you said, sports were built over there,
• 42:44
  Speaker 2: Like that's a twenty four to seven sports network, so
• 42:47
  Speaker 2: you could imagine like people are going to be consuming
• 42:48
  Speaker 2: sports at all time. I But in twenty fourteen they
• 42:52
  Speaker 2: re upp with Turner Sports and ESPN a nine year
• 42:56
  Speaker 2: deal for twenty four billion dollars.
• 42:59
  Speaker 3: Right, so right before't do that, they said, Okay, we
• 43:01
  Speaker 3: have to get away from this deal because we've been
• 43:04
  Speaker 3: bleeding money for thirty years and it's only going to
• 43:07
  Speaker 3: get worse as we continue to grow. And now they
• 43:10
  Speaker 3: see that, Okay, the TV deals is going to keep
• 43:12
  Speaker 3: getting bigger and bigger, right, and we're not going to
• 43:14
  Speaker 3: keep paying these guys two percent forever, right, So we
• 43:18
  Speaker 3: got to get away from this. So they agree on
• 43:21
  Speaker 3: a deal in twenty fourteen for a lump sum buy
• 43:23
  Speaker 3: out of five hundred million dollars. Right. So now you
• 43:26
  Speaker 3: added three hundred million that they got up into two
• 43:28
  Speaker 3: thousand for that number, up, you add the five hundred million,
• 43:30
  Speaker 3: so they got eight hundred million dollars. They got eight
• 43:32
  Speaker 3: hundred million dollars on a three million dollar deal, three
• 43:36
  Speaker 3: million dollar buyout originally that they turned down. They ended
• 43:40
  Speaker 3: up getting eight hundred million.
• 43:41
  Speaker 2: The NBA didn't even have to have this problem. They
• 43:43
  Speaker 2: didn't even have to Like they wanted to buy teams,
• 43:46
  Speaker 2: They wanted to buy Detroit in the late seventies, They
• 43:49
  Speaker 2: wanted to buy New Jersey nets at that time in
• 43:52
  Speaker 2: the nineties, they would have had been owners in two
• 43:55
  Speaker 2: thousand and two. Out of twenty ten, they had to
• 43:59
  Speaker 2: accumulate almost one hundred million. They were worth more than
• 44:02
  Speaker 2: the Indiana Pacers were no.
• 44:04
  Speaker 3: But the best part about the story is that, so
• 44:06
  Speaker 3: they make eight hundred million dollars from the NBA without
• 44:10
  Speaker 3: any overhead, a team that nobody's heard of, a phantom
• 44:13
  Speaker 3: team that nobody's heard of, no players, no roster, no overhead,
• 44:19
  Speaker 3: no building, nothing. They literally made almost a billion dollars
• 44:25
  Speaker 3: just cause forever. So that people say, okay, well, why
• 44:30
  Speaker 3: did they take the buyout? They could have just kept
• 44:32
  Speaker 3: this going forever, right, So the guy, one of the
• 44:34
  Speaker 3: guys died rest in peace a couple of years ago,
• 44:36
  Speaker 3: so I think, you know, he probably gets to the
• 44:37
  Speaker 3: point where it's like, Okay, I'm about to die soon,
• 44:39
  Speaker 3: so I might just get five hundred million up front. Yeah,
• 44:44
  Speaker 3: you know, right. And then also it was a headache
• 44:46
  Speaker 3: for them because they hired lawyers. They kept going back
• 44:49
  Speaker 3: and forth because they felt like the NBA was kind
• 44:50
  Speaker 3: of cheating them with the numbers and it wasn't correct.
• 44:52
  Speaker 3: So they that was kind of and then their name
• 44:55
  Speaker 3: was always associated with that. They didn't really want to
• 44:57
  Speaker 3: be associated with that forever.
• 44:59
  Speaker 2: I would Yeah, it's not a bad thing.
• 45:01
  Speaker 3: They kind of wanted to just get it over with,
• 45:03
  Speaker 3: h But in life is ups and downs, right, So
• 45:07
  Speaker 3: they make almost eight hundred million dollars doing nothing. But
• 45:10
  Speaker 3: then they lose a substantial amount.
• 45:12
  Speaker 2: Of money from connect with this notorious, notorious one, Bernie made.
• 45:17
  Speaker 3: Off, Bernie Madoff. Bernie Madoff. So Bernie Madoff burns him
• 45:21
  Speaker 3: pretty bad. Yeah, man, Bernie Madoff person pretty bad. And
• 45:26
  Speaker 3: they lose a lot of money with Bernie made Off.
• 45:27
  Speaker 2: Yeah, they said, thank god, they didn't lose it at
• 45:29
  Speaker 2: all because they were they had diversified their portfolio, which
• 45:32
  Speaker 2: is good, but they did lose a substantial amount with Bernie.
• 45:35
  Speaker 3: They lost a lot.
• 45:35
  Speaker 2: Yeah, he's doing fifty years.
• 45:39
  Speaker 3: Yeah, he's doing a lot. He's doing a lot of time.
• 45:41
  Speaker 3: Bernie Mado plays a part in mets as well.
• 45:43
  Speaker 2: Yeah, the will Palm family lost a lot of money.
• 45:45
  Speaker 3: We'll talk about some we'll talk about that sometimes. But
• 45:48
  Speaker 3: so yeah, so by day they won. Even though they
• 45:51
  Speaker 3: lost a lot of money with Bernie made Off, they
• 45:53
  Speaker 3: still won in the grand scheme of things. And it's
• 45:55
  Speaker 3: a good story. And how we bring it back to
• 45:57
  Speaker 3: the everyday person is that we always talk about equity, right,
• 46:01
  Speaker 3: and the power of equity and the power of delayed gratification,
• 46:05
  Speaker 3: not taking everything up front. So they still got two
• 46:08
  Speaker 3: million dollars up front. But that TV deal that they
• 46:11
  Speaker 3: struck was brilliant, right, and almost a billion dollars. So
• 46:16
  Speaker 3: the guy from KFC, I mean, he's filthy rich. I'm
• 46:20
  Speaker 3: sure you know, it's not the end of the world,
• 46:22
  Speaker 3: but he has to be kicking himself or his family.
• 46:25
  Speaker 3: I mean, you took three million dollars and the other guys.
• 46:28
  Speaker 2: About the owners of the Virginia Squires, they left before
• 46:33
  Speaker 2: they could even get the three million, the two million
• 46:35
  Speaker 2: dollar offer to be bought out. They were the owners
• 46:40
  Speaker 2: Virginia Squires. Virginia Squires folded before they can get They folded.
• 46:44
  Speaker 3: It wasn't their fault. They folded. Well all right, Well,
• 46:49
  Speaker 3: before we end, we want to talk about a few
• 46:51
  Speaker 3: initiatives that we're started. So we talk about Patreon a lot,
• 46:57
  Speaker 3: but I don't think you guys fully understand, so we
• 46:59
  Speaker 3: want to to give you the backstory on it. So
• 47:01
  Speaker 3: me and Troy, we have a financial literacy program that
• 47:04
  Speaker 3: we run in the summertime, and that's what we help
• 47:06
  Speaker 3: kids learn about finance and stocks and stuff like that.
• 47:09
  Speaker 3: And then also we try we're trying to take the
• 47:11
  Speaker 3: financial literacy program like nationwide. And also we want to
• 47:14
  Speaker 3: write a book about financial literacy as well, and then
• 47:16
  Speaker 3: also just kind of spread the word of you know,
• 47:19
  Speaker 3: outside of the podcast of financial literacy, go to different towns, cities,
• 47:25
  Speaker 3: you know, workshops, stuff like that, because you know, good
• 47:27
  Speaker 3: thing about the Internet and now is that we have
• 47:29
  Speaker 3: a global reach, but we want to reach the people
• 47:30
  Speaker 3: in person. It help as many people as we possibly can, right,
• 47:32
  Speaker 3: that's not help the goals to help. So obviously, you know,
• 47:37
  Speaker 3: finances are important when it comes to helping. So Patreon
• 47:40
  Speaker 3: is an avenue that we put together to kind of
• 47:43
  Speaker 3: help financially fund these different initiatives that we have, right,
• 47:46
  Speaker 3: and also we are putting together a goal, right, so
• 47:50
  Speaker 3: our goal is to have one hundred people, one hundred patrons,
• 47:55
  Speaker 3: and ultimate goal is a thousand, but we want to
• 47:57
  Speaker 3: break it up into smaller goals, so one hundred patrons,
• 48:01
  Speaker 3: and there's different levels of our Patreon, right.
• 48:04
  Speaker 2: So the Patreon, like rachhad said, is it's for creators,
• 48:07
  Speaker 2: and I know some people are not familiar with it,
• 48:10
  Speaker 2: but it's for creators and it's to help fund some
• 48:12
  Speaker 2: of their initiatives and their plans. And so what we're
• 48:15
  Speaker 2: doing is once we reach one hundred patrons. We're going
• 48:18
  Speaker 2: to reach out to five of them and have them
• 48:22
  Speaker 2: talk to us for or have the ability to talk
• 48:24
  Speaker 2: to us for hours, so they can pick our brain.
• 48:25
  Speaker 2: A lot of times on the earn your Leisure pagent,
• 48:27
  Speaker 2: your page, people want you to mentor them or can
• 48:30
  Speaker 2: they pick your brain, So this is that opportunity. So
• 48:32
  Speaker 2: after we get to one hundred, we're going to take
• 48:34
  Speaker 2: five of those people and we're going to reach out
• 48:36
  Speaker 2: and we're going to have those conversations because it's important.
• 48:39
  Speaker 2: And when you go there, you'll see that there's different tiers.
• 48:42
  Speaker 2: We have five tiers, so you can join at any
• 48:45
  Speaker 2: tear that you like. But yeah, just to help the
• 48:47
  Speaker 2: support and help us get out some of these visions
• 48:49
  Speaker 2: that we have, we've created that avenue yep.
• 48:51
  Speaker 3: So that's on the website early Legion dot com. And
• 48:54
  Speaker 3: also on the website is our merch that me and
• 48:56
  Speaker 3: Troy wearing. If you're a subscribe to our YouTube, which
• 49:00
  Speaker 3: subscribe to our YouTube and Lisia is the YouTube page.
• 49:03
  Speaker 3: You see. We have the I have my shirt which
• 49:05
  Speaker 3: is hustle for your last name. Troy has the liability
• 49:09
  Speaker 3: and that is on our merch. We have new merch
• 49:12
  Speaker 3: that we rolled out as well.
• 49:13
  Speaker 2: So yeah, yeah, people asking for colors, so we got
• 49:16
  Speaker 2: every color.
• 49:16
  Speaker 3: We got every color we got, we got the v
• 49:19
  Speaker 3: next for the ladies, you know, we got we got
• 49:21
  Speaker 3: a full we got a full array of things. And
• 49:23
  Speaker 3: then also the book before before I leave, So I
• 49:28
  Speaker 3: promised you every episode I'm going to mention a book
• 49:31
  Speaker 3: that I think is good for business, uh or just
• 49:34
  Speaker 3: you know, just in general. So Phil Knight Shoe Dog
• 49:38
  Speaker 3: is an interesting book. I recommend anybody that's interested in business.
• 49:42
  Speaker 3: Nike for anybody that's not familiar. Phil Knight is the
• 49:46
  Speaker 3: owner and all the CEO. I don't know if he's
• 49:49
  Speaker 3: still CEO, but he started Nike, the founder of Nike, right,
• 49:53
  Speaker 3: So he tells the story of Nike, and it's his
• 49:56
  Speaker 3: story and it's how Nike, And it's for any entrepreneur
• 49:58
  Speaker 3: because there's no easy path to entrepreneurship and it talks
• 50:03
  Speaker 3: about a lot of the ups and downs in different battles.
• 50:05
  Speaker 3: So I highly recommend that book. Phil Knight Shoot Up.
• 50:10
  Speaker 2: Yeah. So, like, like the final message I'll give that
• 50:13
  Speaker 2: out man is struggle another sign that God loves you.
• 50:15
  Speaker 2: So like that's part of the stories too. Perseverance, preparation.
• 50:19
  Speaker 3: Man.
• 50:19
  Speaker 2: You gotta keep follow your dream, never be discouraged, and
• 50:25
  Speaker 2: don't take immediate gratification like we told them the story man.
• 50:28
  Speaker 2: Sometimes the late gratification has its benefits. So that's my
• 50:32
  Speaker 2: final word.
• 50:32
  Speaker 3: Yeah, so that's it. Peace.
• 51:01
  Speaker 4: An illegal alien from Guatemala charged with raping a child
• 51:05
  Speaker 4: in Massachusetts. An MS thirteen gang member from Al Salvador
• 51:09
  Speaker 4: accused of murdering a Texas. Man of Venezuelan charged with
• 51:13
  Speaker 4: filming and selling child pornography in Michigan. These are just
• 51:17
  Speaker 4: some of the heinous migrant criminals caught because of President
• 51:21
  Speaker 4: Donald J. Trump's leadership. I'm Christy nom the United States
• 51:24
  Speaker 4: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 51:29
  Speaker 4: crossings are at the lowest levels ever recorded, and over
• 51:33
  Speaker 4: one hundred thousand illegal aliens have been arrested. If you
• 51:36
  Speaker 4: are here illegally, your next you will be fine nearly
• 51:40
  Speaker 4: one thousand dollars a day, imprisoned and deported, you will
• 51:44
  Speaker 4: never return. But if you register using our CBP home
• 51:48
  Speaker 4: app and leave now, you could be allowed to return legally.
• 51:51
  Speaker 4: Do what's right. Leave now. Under President Trump America's laws,
• 51:56
  Speaker 4: border and families will be protected sponsored the state's Department
• 52:00
  Speaker 4: of Homeland Security,