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When Smart People Fail · Money And Wealth With John Hope Bryant

• 0:00
  Speaker 1: Speaks to the Plannet.
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  Speaker 2: I go by the name of Charlamagne the God and
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  Speaker 2: guess what, I can't wait to see y'all at the
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  Speaker 3: Welcome the Money in Wealth with John O'Bryant, a production
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  Speaker 3: of the Black Effect Podcast Network and iHeartRadio.
• 1:00
  Speaker 1: Oh Yo, this is.
• 1:00
  Speaker 3: John O'Bryant and this is Money and wealth on the
• 1:05
  Speaker 3: Black Effect Network. Tell all your friends about it. It is
• 1:08
  Speaker 3: one of the top entrepreneurship podcasts in the nation last
• 1:13
  Speaker 3: of my check, number thirty two or so of all
• 1:16
  Speaker 3: entrepreneurship podcasts and top five percent of all podcasts in
• 1:20
  Speaker 3: the country. Let's keep it going. This is the opportunity economy,
• 1:24
  Speaker 3: and this is the aspiration generation. And you are the
• 1:27
  Speaker 3: people who are aspiring. And thanks for all the feedback
• 1:31
  Speaker 3: that you give me on social media about the podcast
• 1:34
  Speaker 3: or stopping me in airports or when you see me
• 1:37
  Speaker 3: in the street or in conference conference rooms, when you
• 1:40
  Speaker 3: pass by a conference room and see me there with
• 1:42
  Speaker 3: your boss or whoever, and you stopping by it and
• 1:44
  Speaker 3: give me some love. I appreciate that, and I love
• 1:49
  Speaker 3: the feedback, and I take the feedback and I put
• 1:51
  Speaker 3: it back into the podcast series and try to be
• 1:55
  Speaker 3: responsive to that, like literally. So if you want to
• 1:59
  Speaker 3: make sure that I I am listening to you, leave
• 2:01
  Speaker 3: comments when you see snippets from the podcast in social media.
• 2:06
  Speaker 3: In my Straight Top Live series I do every day,
• 2:08
  Speaker 3: leave comments. I'm the one who reads the comments and
• 2:10
  Speaker 3: respond to them. You're getting response. That's for me personally.
• 2:14
  Speaker 3: Let's get into this week's podcast, which I'm building on
• 2:20
  Speaker 3: the business plans that I created for America and I'll
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  Speaker 3: be getting I did one called the business Plan, the
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  Speaker 3: Economic business Plan for Black America last week, tied to
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  Speaker 3: dream Ford, which was introduced on the fifty seventh anniversary
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  Speaker 3: of doctor Martin King Junior's assassination, his memorial that we
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  Speaker 3: did with doctor King's daughter, Bernici and Bernice A King
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  Speaker 3: who's a board member of Operation Hope and a friend
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  Speaker 3: and a partner in our work. And at Bastaror Andrew Young,
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  Speaker 3: who was on that balcony with doctor King who was assassinated,
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  Speaker 3: and the Memphis Mayor Paul Young. We did that and
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  Speaker 3: launched it. And there are other business plans that we
• 2:54
  Speaker 3: will get to. The business Plan for Latino Hispanic America,
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  Speaker 3: the Business Plan for Women business Plan. These are economic
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  Speaker 3: business plans for Native Americans and Rural America and Asians,
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  Speaker 3: et cetera. I'm going to map all these out. But
• 3:09
  Speaker 3: as I thought about the last business plan, that's very opportunity.
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  Speaker 3: Rich people are hurting right now. They are in pain,
• 3:17
  Speaker 3: they're frustrated, they are sometimes lacking confidence, and that needs
• 3:24
  Speaker 3: to be spoken to that like that has to be
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  Speaker 3: addressed like that's real, right, and there's nothing wrong with you.
• 3:30
  Speaker 3: If you're feeling a certain kind of way right now,
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  Speaker 3: there's nothing wrong with you. In fact, if you're not
• 3:35
  Speaker 3: feeling a certain kind of way in the current environment,
• 3:39
  Speaker 3: then then something's wrong with you. If you're not feeling
• 3:42
  Speaker 3: a certain kind of way, there's reason if a bear
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  Speaker 3: or a tiger is chasing you, or a lion is
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  Speaker 3: chasing you and is within I don't know one hundred feet,
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  Speaker 3: you should be petrified, like there's reason for that.
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  Speaker 1: Right.
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  Speaker 3: Fear is in your system. God put fear in your
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  Speaker 3: system for a reason. Fight or flight your critical thinking skills.
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  Speaker 3: But it should not overwhelm you. It should not paralyze you. Right,
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  Speaker 3: It's something that should not define you. I take no
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  Speaker 3: for vitamins.
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  Speaker 1: That's me.
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  Speaker 3: I've been doing so much with so little for so long.
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  Speaker 3: I can almost do anything with nothing, right. I've said
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  Speaker 3: over and over again, success is going from failure to
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  Speaker 3: failure without loss of enthusiasm. My most prize trait that
• 4:36
  Speaker 3: I have of me, other than my spirituality, is my resiliency.
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  Speaker 1: And that I never give up.
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  Speaker 3: I just you know, I just brush it off, whatever
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  Speaker 3: it is and know that God made me to win,
• 4:51
  Speaker 3: like God made you perfect and unique, perfectly unique. Right,
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  Speaker 3: five fingers that you have on each hand are have
• 5:03
  Speaker 3: fingerprints which are not reproduced anywhere in the world. They're
• 5:06
  Speaker 3: unique to you. Is that amazing eight billion people on
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  Speaker 3: the planet. There's nobody just like you. You just need
• 5:11
  Speaker 3: to find your specialness, find your gift, find your group.
• 5:15
  Speaker 3: Here's another one for you. And the title of this
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  Speaker 3: podcast week episode is why smart people fail. Not When
• 5:25
  Speaker 3: smart people fail, you will fail. If you're if you're
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  Speaker 3: trying to do anything, you're going to slip and fall.
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  Speaker 3: You're going to fail. But failure is not a determination
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  Speaker 3: of who you are. It's an outcome to an experiment,
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  Speaker 3: that's all it is. So if you try anything, you're
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  Speaker 3: gonna slip at fall, You're gonna fail. You're gonna fall
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  Speaker 3: short of the glory of God. Because rainbows only follow storms.
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  Speaker 3: You could not have a rainbow without a storm first.
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  Speaker 3: It is a scientific fact. So I want you to
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  Speaker 3: get used to failure, and I'm about to now show
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  Speaker 3: you some examples and benefits of failure. You can't fall
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  Speaker 3: from the floor, okay, and I'm going to share it
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  Speaker 3: with you my own stories as I often do of
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  Speaker 3: failure and why it has become something that I've ter,
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  Speaker 3: I've interrelated, I've ingrained, I have I have you know,
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  Speaker 3: interlaced into my life. Look, success is easy, going shopping
• 6:29
  Speaker 3: is easy. You know, Saluting you know your achievements is easy.
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  Speaker 3: But you want to know what somebody's made of. Trip
• 6:38
  Speaker 3: them up, let them, let them fall, and see how
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  Speaker 3: they get back up. Life is ten percent. This is
• 6:44
  Speaker 3: from my last book is Financial Literacy for all. Make
• 6:46
  Speaker 3: sure you get it. I've had six books. The book
• 6:48
  Speaker 3: Got from Nothing. It's all about my failures. But my book,
• 6:52
  Speaker 3: my first book was Love Leadership, and I talk about
• 6:57
  Speaker 3: indirectly failure. I say that, you know, believing in yourself
• 7:03
  Speaker 3: and not believing you're worthy.
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  Speaker 1: To be yourself.
• 7:09
  Speaker 3: I talk about courage as being nothing more than your
• 7:13
  Speaker 3: faith reaching through your fear, displaying itself as action in
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  Speaker 3: your life. I'm going to repeat that in this book,
• 7:20
  Speaker 3: Love Leadership. I talk about faith. The courage is nothing
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  Speaker 3: more than your faith reaching through your fear, displaying itself
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  Speaker 3: as action in your life. I go further and say
• 7:31
  Speaker 3: that vulnerability is not a weakness, it's a strength. But
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  Speaker 3: very few of us are tough enough to be sold
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  Speaker 3: like see, we have it backwards, right, And I want
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  Speaker 3: to teach you courage, Okay, I want to teach you
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  Speaker 3: the power of vulnerability, the power of transparency. It relieves
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  Speaker 3: so much stress and pressure when you just acknowledge that
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  Speaker 3: you're human and then you grow and build from there.
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  Speaker 3: Like again, you can't fall from the floor. You can
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  Speaker 3: mess up and screw up and not be a screw up.
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  Speaker 3: So even the smartest people, here's the fact, number one,
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  Speaker 3: even the smartest people in the world stumble. What separates
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  Speaker 3: them is not the brains or are not the brains,
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  Speaker 3: it's the bounce back. Okay, So we're going to dig
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  Speaker 3: into some powerful truths. Smart people do fail, It's a fact,
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  Speaker 3: and they fail a lot. The question isn't if you're
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  Speaker 3: going to fail, it's what do you do after you
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  Speaker 3: hit the ground. Let's get into that. So there's a myths.
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  Speaker 1: Okay.
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  Speaker 3: We live in a world and worships intelligence and degrees
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  Speaker 3: and titles and IQ points intelligence. Perfect lives displayed on
• 9:02
  Speaker 3: say Instagram or or you know, TikTok or whatever. Okay,
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  Speaker 3: seemingly perfect lives, but there is no perfect right, that's
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  Speaker 3: a lie.
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  Speaker 1: Okay.
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  Speaker 3: The word person personality comes from the Latin word persona,
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  Speaker 3: which literally translates quotation marks and in other words broadly speaking,
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  Speaker 3: but translates into perform. So your personality is your performance
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  Speaker 3: you're putting off for the world. It doesn't mean it's
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  Speaker 3: a lie. It just means that it's separate from you.
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  Speaker 3: It's it is, it is your character, it's your personality.
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  Speaker 3: Yep again, to perform, Okay. And where when you meet somebody,
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  Speaker 3: you're meeting them, you're meeting the best version of them often,
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  Speaker 3: or you see somebody, you see seeing the very best, best,
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  Speaker 3: best best version of them, right, and because they're going
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  Speaker 3: to present to you the part of themselves that they
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  Speaker 3: want you to be compelled by.
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  Speaker 1: Right.
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  Speaker 3: I like showing you who I am. I think that
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  Speaker 3: you're going to be more impressed with my authenticity than
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  Speaker 3: any game that I might have of showing you a
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  Speaker 3: version of me that's just not true. And everybody knows
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  Speaker 3: perfection doesn't exist. Everybody knows that somebody who says that
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  Speaker 3: everything is going right in their life is lying.
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  Speaker 1: Right.
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  Speaker 3: We want to believe the hype, I guess, which is
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  Speaker 3: why we keep falling for Charlatan's and fake and fake
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  Speaker 3: this and fake that, But the reality is we're all
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  Speaker 3: just trying the best we can. And I think the
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  Speaker 3: real hero is the one that just keeps getting back up,
• 10:39
  Speaker 3: cannot get an amen. You hit me, you kick me,
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  Speaker 3: you knock me down, and I just keep back. That's
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  Speaker 3: why we always roote for that underdog in the fight,
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  Speaker 3: in the prize fight, right, who just keeps getting back up.
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  Speaker 3: So again, we live in this world the worst. Intelligence
• 10:54
  Speaker 3: and degrees and titles in IQ all important things, but
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  Speaker 3: intelligence alone does not equal success. And Bassiar Andrew Young
• 11:01
  Speaker 3: want my personal hero. My mentor would say that he's met,
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  Speaker 3: over the course of his life a whole series of
• 11:09
  Speaker 3: educated fools. They have all these degrees and can't do
• 11:12
  Speaker 3: anything and haven't done anything. They think that that being
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  Speaker 3: smart enough and being smart is important, but they think
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  Speaker 3: that that is enough, and it is not.
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  Speaker 1: So.
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  Speaker 3: There are Harvard graduates who are broke, and brilliant people
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  Speaker 3: who are stuck in self doubt. The cemetery is full
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  Speaker 3: of people with unfulfilled potential. I've met brilliant people who
• 11:38
  Speaker 3: are homeless, and I've met idiots and fools who are
• 11:41
  Speaker 3: massively successful. So intelligence alone is not enough. It's one
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  Speaker 3: of the pieces. So here's one cheat sheet for you.
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  Speaker 3: Success equals intelligence plus resilience plus agility plus grit.
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  Speaker 1: Did you get that?
• 12:05
  Speaker 3: So if you have that combination, you are amazing. Right,
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  Speaker 3: It's hard to hit a moving target or one that
• 12:14
  Speaker 3: just never gives up. My brother and friend, the hyper
• 12:18
  Speaker 3: hugely successful businessman Tony Wrestler, who happens to own the
• 12:22
  Speaker 3: Atlanta Hawks, is how some of you might know him,
• 12:26
  Speaker 3: but I know him for his business successes and his humanity.
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  Speaker 3: He would say, And I can't give this quote exactly
• 12:31
  Speaker 3: because it's got some French terms in it. You figure
• 12:35
  Speaker 3: that out on your own. But Tony would say, I'm
• 12:37
  Speaker 3: gonna clean this up. He would say, if you don't quit,
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  Speaker 3: you can't fail. If you don't quit, you can't fail.
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  Speaker 3: Just keep at it, just keep getting up. Let's now
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  Speaker 3: get into some actual stories of success and failure.
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  Speaker 1: Including my own.
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  Speaker 3: So let's talk about Steve Jobs, who I will add
• 13:14
  Speaker 3: and I didn't know Steve Jobs, but I've done enough
• 13:16
  Speaker 3: research to say one he was a genius, an absolute genius,
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  Speaker 3: change the world for all of us. Two probably not
• 13:24
  Speaker 3: the greatest person on the planet, in other words, not
• 13:26
  Speaker 3: a really nice human being. It appears from all reports
• 13:31
  Speaker 3: not very philanthropic, did not believe in philanthropy, did not
• 13:34
  Speaker 3: have a personal foundation. His wife, his ex wife, is
• 13:37
  Speaker 3: now incredibly philanthropic, So God bless her for using his
• 13:42
  Speaker 3: large gest to heal the world. So, in other words,
• 13:47
  Speaker 3: I'm not advocating for Steve Jobs as a human being. Here,
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  Speaker 3: I'm giving you an example of a faulty, maybe unhappy,
• 13:55
  Speaker 3: highly imperfect person who succeeded anyway and change the world.
• 14:01
  Speaker 3: But that's not the part of Steve Jobs that I
• 14:03
  Speaker 3: want you to focus on either. That's just I'm just
• 14:05
  Speaker 3: trying to break it down. So you get him off
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  Speaker 3: of his idol perch, right, and you get him. I
• 14:11
  Speaker 3: want Steve Jobs to be approachable for you. I want
• 14:13
  Speaker 3: him to be somebody that you can reach out and
• 14:16
  Speaker 3: relate to. So the first thing I'll tell you about
• 14:18
  Speaker 3: Steve Jobs is he was fired from the company he started.
• 14:25
  Speaker 3: And I want you to think about that he created Apple.
• 14:28
  Speaker 3: Think about I mean I found an operation Hope, and
• 14:31
  Speaker 3: think about one day my board of directors, after thirty
• 14:34
  Speaker 3: years or whatever building this thing into a behemoth, they
• 14:38
  Speaker 3: just fire me. They have the right if with the
• 14:41
  Speaker 3: they have majority votes and I'm the founder, chairman, and
• 14:44
  Speaker 3: chief ejective officer. They could fire me, and the board
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  Speaker 3: of directors of Apple did fire Steve Jobs. But it
• 14:54
  Speaker 3: was the best thing that ever happened him. And this
• 14:55
  Speaker 3: is only one or two parts of the Steve Jobs story.
• 14:58
  Speaker 3: This is the one that you don't hear, but you could,
• 15:01
  Speaker 3: you might know about. But I'm gonna tell you this
• 15:04
  Speaker 3: when first, I'm gonna tell you the story of that.
• 15:06
  Speaker 3: I'm absolutely convinced you've never heard of heard about. The
• 15:10
  Speaker 3: second story, in my important, in my view, is more
• 15:13
  Speaker 3: stunning than the first. The first is pretty amazing. So
• 15:15
  Speaker 3: he builds Apple, grows it from nothing with woesny Ak
• 15:19
  Speaker 3: his co founder, He had a co founder, and at
• 15:24
  Speaker 3: some point loses confidence from the board of directors and
• 15:31
  Speaker 3: they fire him. He's often the wilderness of self doubt.
• 15:35
  Speaker 3: And he picks up a new idea, a company called Next,
• 15:41
  Speaker 3: And for about a decade, Next underperforms like Next was Next.
• 15:48
  Speaker 3: The world begins to question the brallids of Steve Jobs,
• 15:52
  Speaker 3: and and and and he begins to question himself importantly, again,
• 15:57
  Speaker 3: he never gave up. He then found some massive success
• 16:06
  Speaker 3: that I believe even more important than his Apple success,
• 16:09
  Speaker 3: at least to his net worth, because he sold a
• 16:11
  Speaker 3: lot of the Apple stock when he was fired from Apple,
• 16:16
  Speaker 3: because he you know, he was personal and he I'm
• 16:19
  Speaker 3: sure felt some kind of a way about that, right,
• 16:21
  Speaker 3: not positive. So he starts Pixar, and Pixar becomes just
• 16:29
  Speaker 3: this absolutely massive, massive success story, and that in many
• 16:36
  Speaker 3: ways is the saving grace of Steve Jobs. Financially, it
• 16:48
  Speaker 3: reimagines him. In fact, let me give some credit, Steve
• 16:53
  Speaker 3: Jobs was not the only founder of Pixar. It appears
• 16:55
  Speaker 3: there were a couple of them, including Ed Mole Catmull,
• 17:01
  Speaker 3: who doesn't give the credit that he deserves. But it
• 17:04
  Speaker 3: appears that Steve Jobs takes this idea and grows it
• 17:11
  Speaker 3: beyond anybody's wildest dreams and including his own, and then
• 17:18
  Speaker 3: he comes back to Apple and kills it right. But
• 17:23
  Speaker 3: that's not the story of Steve Jobs. I want you
• 17:25
  Speaker 3: to obsess on. Here's a story I want you to
• 17:32
  Speaker 3: sit down for, because it's going to blow your mind.
• 17:35
  Speaker 3: Steve Jobs was the child of a Jordanian immigrant from
• 17:41
  Speaker 3: what we call the Middle East region North Africa quotation
• 17:47
  Speaker 3: marks that area.
• 17:49
  Speaker 1: And a white mother.
• 17:52
  Speaker 3: The parents of the white mother of Steve Jobs did
• 17:55
  Speaker 3: not approve of Steve Job's father mother, sorry, the father's
• 18:00
  Speaker 3: toe Jobs, the immigrant being in being part of his
• 18:03
  Speaker 3: daughter's life. The parents of the Caucasian woman who had
• 18:12
  Speaker 3: a child with this Jordanian immigrant, Okay, those the parents
• 18:17
  Speaker 3: did not approve of the Jordanian immigrant, and put I
• 18:21
  Speaker 3: wanted to put the child up for adoption. That that
• 18:27
  Speaker 3: child Steve, I'm a paraphrases. The parents decide they want
• 18:34
  Speaker 3: that Steve to go to a wealthy, well healed family.
• 18:40
  Speaker 3: As I understand it, that family selected Steve. And then
• 18:44
  Speaker 3: something happened, and uh, the adoption fell apart. And uh,
• 18:52
  Speaker 3: when the adoption fell apart, they the family had to
• 18:55
  Speaker 3: scramble to find a new suitor, a new adopt adoption
• 19:05
  Speaker 3: host for young Steve. That was not their best choice
• 19:10
  Speaker 3: or their first choice. It was a last choice. Well
• 19:14
  Speaker 3: that was his middle class family called the Jobs family.
• 19:18
  Speaker 3: Can't make this up in Silicon Valley. They adopt this
• 19:23
  Speaker 3: young man, bring him into their household and name him
• 19:28
  Speaker 3: Steve Jobs. And he wrote, you know hangs out in
• 19:33
  Speaker 3: the neighborhood and around the corner is this brilliant dude
• 19:35
  Speaker 3: named Wolseley. At the rest of the story, you may know,
• 19:39
  Speaker 3: they go in the garage and create this amazing idea
• 19:46
  Speaker 3: from nothing called.
• 19:49
  Speaker 1: Apple.
• 19:51
  Speaker 3: Now you can put the rest of this piece together.
• 19:54
  Speaker 3: Apple today is is one of the most valuable companies
• 19:57
  Speaker 3: in the world. Last time I checked over three trilliion
• 20:00
  Speaker 3: dollars of market cap and tons of cash on demand.
• 20:03
  Speaker 3: It's like they got a GDP of most that they've
• 20:06
  Speaker 3: got a wealth equation that's bigger than most countries. But
• 20:10
  Speaker 3: what would have happened if Steve Jobs and we don't
• 20:14
  Speaker 3: discount his genius, now, what would have happened if Steve
• 20:16
  Speaker 3: Jobs was instead adopted by a single parent mother on
• 20:24
  Speaker 3: the South Side of Chicago in that same period. Keep
• 20:30
  Speaker 3: in mind, Steve Jobs is brilliant. Now I'll tell you
• 20:34
  Speaker 3: what would have happened. He would have been He would
• 20:36
  Speaker 3: have become the biggest, most successful drug dealer the South
• 20:40
  Speaker 3: Side of Chicago had ever seen, because God's not going
• 20:46
  Speaker 3: to deny you your genius. And he would have found
• 20:48
  Speaker 3: a way to use that that brilliants and that genius
• 20:51
  Speaker 3: in a broken neighborhood to create enterprise for himself. I mean,
• 20:56
  Speaker 3: what do you think a drug dealer is if not
• 20:59
  Speaker 3: a an ethical, illegal, inappropriate business plan, structured entrepreneur. They
• 21:08
  Speaker 3: understand import, export, finance, marketing, wholesale, retail, customer service, security,
• 21:14
  Speaker 3: territory logistics. Right, And what do you think of gang
• 21:18
  Speaker 3: leader is in those neighborhoods? Other than a frustrated union organizer.
• 21:22
  Speaker 3: These are genius, brilliant, amazing people with the wrong business plan,
• 21:26
  Speaker 3: the wrong relationship capital, the wrong environment, the wrong you
• 21:31
  Speaker 3: want to call it luck of the gene pool, but
• 21:35
  Speaker 3: they're not lacking intelligence, right, and you hang it. That's
• 21:38
  Speaker 3: why I say you hang around nine bro people, You'll
• 21:40
  Speaker 3: be the tenth. A lot of life is relationship capital.
• 21:43
  Speaker 3: It's either luck of your zip code or reimagining your environment.
• 21:47
  Speaker 3: And I keep trying to get you to reimagine your environment.
• 21:49
  Speaker 3: And what am I trying to do today? Reprogram your mindset?
• 21:52
  Speaker 3: If you can't change where you are, change how you
• 21:54
  Speaker 3: see where you are, and change what you do about
• 21:58
  Speaker 3: where you are, and what you going to do to
• 22:01
  Speaker 3: move away from the environment that may be keeping you
• 22:05
  Speaker 3: from being the best of who you are?
• 22:08
  Speaker 1: Hello? Can I get a name? Man? This is the
• 22:11
  Speaker 1: church of what's happening? Now? What have you done for
• 22:12
  Speaker 1: me lately? So?
• 22:15
  Speaker 3: Steve jobs, Uh that we all champion as a hero
• 22:19
  Speaker 3: who literally changed the world. Every device you're looking at
• 22:22
  Speaker 3: right now, whether it's an Apple device or a Samsung
• 22:25
  Speaker 3: or whatever it is you're using, or even an Android
• 22:27
  Speaker 3: that that's that uh glass like surface that is touchscreen,
• 22:35
  Speaker 3: right that you use. That was Steve Jobs. Everybody uses
• 22:39
  Speaker 3: that technology and that approach. Basically remember the some of
• 22:42
  Speaker 3: you remember the uhh the handheld device or device is
• 22:49
  Speaker 3: that were literally uh you had your you punched the keyboard.
• 22:55
  Speaker 3: You know, it was a little bit of a keyboard
• 22:57
  Speaker 3: on it. You little screen and you have these keep
• 22:59
  Speaker 3: these keys and you punch the keys on whatever the
• 23:02
  Speaker 3: device you were using. It was you know, tactile in
• 23:05
  Speaker 3: other words, you you literally you hit these little buttons,
• 23:09
  Speaker 3: right or the rotary dow the push button phone or
• 23:14
  Speaker 3: the rotary dill phone. Going too deep for some of
• 23:17
  Speaker 3: the people, what's a rotary doll phone? The point is
• 23:20
  Speaker 3: that this technology of of of of touchscreen technology is
• 23:26
  Speaker 3: is fairly new, and it's and it's and and he
• 23:30
  Speaker 3: he revolutionized that. He revolutionized, uh, music, books, all these
• 23:36
  Speaker 3: industries that uh, this guy transformed. And he was a
• 23:41
  Speaker 3: failure by he'd been written off by the world, and
• 23:45
  Speaker 3: he was a Jordanian minority immigrant Oprah Winfrey, who I
• 23:54
  Speaker 3: absolutely adore. I counter as I can't say she's a friend.
• 23:58
  Speaker 3: We're not like we hang out, but we her friendly.
• 24:01
  Speaker 3: She allows me to communicate with her, stay in touch.
• 24:03
  Speaker 3: Whether she gave me the Usual Life Award which helped
• 24:06
  Speaker 3: to set me on the world stage. You can still
• 24:08
  Speaker 3: go and watch that online from her show, The oper
• 24:11
  Speaker 3: Winfrey Show. I really thank her and appreciate her, and
• 24:15
  Speaker 3: she's amazing. Well, she was told she was unfit for TV.
• 24:25
  Speaker 3: In fact, she was fired, humiliated. She could have just
• 24:28
  Speaker 3: walked away. Instead, she leaned in. She was a local
• 24:34
  Speaker 3: broadcaster in Chicago, that's where I met her, which she
• 24:38
  Speaker 3: had the Oprah Winfrey Show there, still based in Chicago,
• 24:40
  Speaker 3: but she was started as a broadcaster. She started, she
• 24:42
  Speaker 3: got sort of made her first public acclaim as a
• 24:46
  Speaker 3: as a news broadcaster, a talk talk show host in Chicago.
• 24:52
  Speaker 3: And then she tried this new concept once she had
• 24:55
  Speaker 3: some success of this way, I describe it going spiritual
• 24:59
  Speaker 3: or becoming, you know, getting deeper about everything. And the
• 25:03
  Speaker 3: audience initially didn't know what to do with her, how
• 25:05
  Speaker 3: to deal with her, and so the audience, the ratings
• 25:08
  Speaker 3: did not support her ascension. In fact, the audience walked
• 25:11
  Speaker 3: away from her, and I'm sure she had questions about
• 25:14
  Speaker 3: I'm sure she questioned herself like can I do this?
• 25:18
  Speaker 1: You know?
• 25:18
  Speaker 3: Is this what I'm supposed to be doing? And she
• 25:21
  Speaker 3: just stayed at it. She never gave up. And of
• 25:23
  Speaker 3: course the rest of the story is well known, and
• 25:25
  Speaker 3: she took off like a rocket once the audience clicked
• 25:27
  Speaker 3: into that. If she didn't if she didn't give up,
• 25:29
  Speaker 3: the audience didn't give up, see what I'm saying, And
• 25:32
  Speaker 3: it was once again resiliency. And today she's iconic and
• 25:37
  Speaker 3: singular in the world. President Barack Obama lost his first
• 25:43
  Speaker 3: race totally wasn't ready four years later US senator. That's
• 25:49
  Speaker 3: where I met him. I met him at the White
• 25:50
  Speaker 3: House when he was a US senator, four years after that.
• 25:53
  Speaker 3: And by the way, when I met him at the
• 25:55
  Speaker 3: White House, no one was paying him any attention. Hit
• 25:56
  Speaker 3: his assistant with him, and who assistant introduced to him
• 26:00
  Speaker 3: to me? And assistant said, this guy is really passionate
• 26:03
  Speaker 3: about financial literacy. And we talked very briefly. He didn't
• 26:05
  Speaker 3: seem very interested in me. By the way, mister Obama
• 26:08
  Speaker 3: at the time I ended up serving him as an advisor.
• 26:12
  Speaker 3: One of his advisors want to became president. But I
• 26:14
  Speaker 3: remember we met him. I met him at the Bush
• 26:16
  Speaker 3: White House, President Bush the Sun for Black History Month,
• 26:19
  Speaker 3: and I mean I wasn't blown away vying when I
• 26:23
  Speaker 3: met him. It didn't seem like it actually seemed like
• 26:26
  Speaker 3: we became president, he became taller. He just seemed much
• 26:29
  Speaker 3: more bold and audacious. Later on again, I guess his
• 26:33
  Speaker 3: confidence increased, right, his light increased, his confidence increase. It's natural,
• 26:39
  Speaker 3: and success begets more success. And so I met him
• 26:44
  Speaker 3: as a US senator, a very nice guy, very articulate,
• 26:48
  Speaker 3: very smart. Four years after that, first black president of
• 26:51
  Speaker 3: the United States of America, and I will add one
• 26:55
  Speaker 3: of a few presidents with no scandals.
• 26:58
  Speaker 1: Can you believe that?
• 26:59
  Speaker 3: Pretty amazing President Abraham Lincoln, who is touted as one
• 27:02
  Speaker 3: of the most amazing success stories, failed at everything, I
• 27:06
  Speaker 3: mean at everything. The only thing he actually succeeded that
• 27:09
  Speaker 3: was being elected president of the United States of America.
• 27:11
  Speaker 3: And then once he did that, after the state said
• 27:14
  Speaker 3: you're not my president, walked to very room and that
• 27:16
  Speaker 3: started the Civil War.
• 27:27
  Speaker 1: JK.
• 27:27
  Speaker 3: Rowling broke, depressed, rejected, twelve times. Harry Potter was her
• 27:37
  Speaker 3: last shot. Can you imagine this thing that is touted
• 27:43
  Speaker 3: around the world today, that was her last shot, right, Depressed,
• 27:47
  Speaker 3: broke and feeling like she had absolutely failed. Let me
• 27:57
  Speaker 3: now go to some other examples of success and failure
• 28:05
  Speaker 3: so that you can see that this is not a fluke,
• 28:10
  Speaker 3: that this is not Okay. John Brian has mentioned some
• 28:17
  Speaker 3: popular stories, but that can't be everything. Okay, let's go
• 28:22
  Speaker 3: deeper walk Disney fired for lack of imagination. I can't
• 28:27
  Speaker 3: make this up. Fired for lack of imagination, fired from
• 28:33
  Speaker 3: a newspaper job for not being creative enough. His turnaround
• 28:39
  Speaker 3: went bankrupt several times before launching Disney Studios. Today, Disney
• 28:47
  Speaker 3: is a global empire. Thomas Edison failed one thousand attempts
• 28:55
  Speaker 3: at his experiments one thousand times. Can you imagine trying
• 28:59
  Speaker 3: something a thousand times? This is not like casual I
• 29:02
  Speaker 3: mean documented failures of a thousand times. Took one thousand
• 29:07
  Speaker 3: tries to invent one thing. The light bulb that you
• 29:10
  Speaker 3: take for granted every day, tried one thousand times to
• 29:13
  Speaker 3: invent it, failed every time. His turnaround story, he said,
• 29:18
  Speaker 3: I've not failed, I've just found ten thousand ways this
• 29:21
  Speaker 3: won't work. His invention transformed, of course, modern life. Now
• 29:28
  Speaker 3: here's an untold story about Thomas Edison. Thomas Edison added
• 29:32
  Speaker 3: a little intern that he paid no attention to and
• 29:36
  Speaker 3: he rejected, named Tesla. No, not the car. Tesla's named
• 29:43
  Speaker 3: after an inventor. Right, So that's another story for another time.
• 29:47
  Speaker 3: But Tesla was a mentee of Thomas Edison, and Thomas
• 29:51
  Speaker 3: Edison just dismissed him. And they both created amazing inventions,
• 29:57
  Speaker 3: pioneered them, I think, going off memory, but I'm pretty
• 30:00
  Speaker 3: sure Thomas Edison. Of course the light bulb and so
• 30:04
  Speaker 3: you had one to created AC power, in one that
• 30:08
  Speaker 3: created DC power. But they were became competitors later on
• 30:12
  Speaker 3: in their life. Carl Sanders, Uh, this is the chicken dude, okay,
• 30:19
  Speaker 3: rejected one thousand and nine times. He kept a number,
• 30:23
  Speaker 3: He kept a log of this. His chicken recipe was rejected.
• 30:28
  Speaker 3: This is you know Kentucky for a chicken, right? His
• 30:32
  Speaker 3: chicken recipe was rejected over a thousand times before KFC
• 30:35
  Speaker 3: took off. Hold on now at age sixty two, Hello,
• 30:41
  Speaker 3: did you hear that? But tell you another one, because
• 30:44
  Speaker 3: by the way, most millionaires become millionaires in their mid
• 30:46
  Speaker 3: to late fifties. Right, that was my experience, by the way,
• 30:51
  Speaker 3: And get gonna get in my success story failure story
• 30:54
  Speaker 3: in a minute. It really my success story is my
• 30:57
  Speaker 3: failure story. I tell you one that is not obvious.
• 31:01
  Speaker 3: Nelson Mandela right, went to prison at forty seven years
• 31:05
  Speaker 3: of age, stayed in prison. Went to prison an angry
• 31:10
  Speaker 3: black man at forty seven years old, stayed there twenty
• 31:13
  Speaker 3: seven years in prison, turned it into Mandela University, unofficial
• 31:18
  Speaker 3: name for the prison. Because he was teaching everybody he
• 31:21
  Speaker 3: was an inspiration. He wasn't allowing them his captivation to
• 31:25
  Speaker 3: captivate and control his mind, his soul, the spirit. We're
• 31:28
  Speaker 3: not human beings having a spiritual experience, where spiritual beings
• 31:32
  Speaker 3: having a human experience and energy matters. He decided to
• 31:37
  Speaker 3: turn his jailer's into his pupils, and his jail into
• 31:46
  Speaker 3: a monastery of a place of education, inspiration, and an expression.
• 31:57
  Speaker 3: He stayed there twenty seven years. And really, what the
• 32:01
  Speaker 3: thing that we know to be his success Right he
• 32:04
  Speaker 3: went in at almost fifty years of age, right, I
• 32:07
  Speaker 3: mean he didn't do that too close to eighty years
• 32:10
  Speaker 3: of age. Really, you know, between mid seventies and mid
• 32:13
  Speaker 3: eighties years of age is when he did all the
• 32:17
  Speaker 3: stuff president of the country. You know, an inspiration for
• 32:20
  Speaker 3: the world. That basically decade period he changed the world.
• 32:25
  Speaker 3: I mean, Moses didn't know what he was even doing
• 32:27
  Speaker 3: until it was eighty That's biblical. If some of you
• 32:30
  Speaker 3: don't know what I'm talking about. Vera Owayne bringing his
• 32:34
  Speaker 3: back to Earth again. Vera Awayg the designer, failed her
• 32:41
  Speaker 3: Olympic dream, didn't make the US Olympic figure skating team.
• 32:47
  Speaker 3: She pivoted it into fashion. Now she's one of the
• 32:51
  Speaker 3: most recognized bridal designers in the world.
• 32:54
  Speaker 1: What you know, I.
• 32:55
  Speaker 3: Often say, if I got what I wanted in life,
• 32:59
  Speaker 3: I would not have wanted what I got. Be careful
• 33:02
  Speaker 3: what you asked for, you just might get it. Jeff
• 33:06
  Speaker 3: Bezos one hundred and seventy million dollar flop Amazon. Amazon's
• 33:13
  Speaker 3: firephone was a major failure. Did you know there was
• 33:16
  Speaker 3: a firephone? He used the lessons though, to help build
• 33:22
  Speaker 3: what we now call Alexa and Amazon Web Services, which
• 33:27
  Speaker 3: is now hold on a multi billion dollar success story.
• 33:33
  Speaker 3: Fred Smith, FedEx founder the company, almost died. He's Fred
• 33:39
  Speaker 3: still running the company to this day in Memphis outside
• 33:42
  Speaker 3: of Memphis. The failure, well, the business was failing, it
• 33:47
  Speaker 3: was not succeeding. Smith used the company's last five thousand
• 33:50
  Speaker 3: dollars to gamble in Vegas to keep it alive. What's
• 33:55
  Speaker 3: his turnaround story. FedEx is now a global logistics giant
• 33:58
  Speaker 3: valued in the tens of billion. And no, do not
• 34:01
  Speaker 3: take this advice that you think I'm giving you and
• 34:03
  Speaker 3: take your last five grand of Vegas. I'm not saying
• 34:06
  Speaker 3: doing that. I'm just telling you what he did and
• 34:08
  Speaker 3: is a symbol of just never giving up. Henry Ford
• 34:12
  Speaker 3: and Henry Ford's great great grandson, a great great great
• 34:15
  Speaker 3: grandson is a friend of mine. Henry for the third,
• 34:17
  Speaker 3: great guy who's on the board of my Motorsports Academy
• 34:20
  Speaker 3: and on Operation to Hope, and we were great friends.
• 34:25
  Speaker 3: I really love him and loved the story. Henry Ford
• 34:30
  Speaker 3: had two failed companies before the Ford Motor Company.
• 34:34
  Speaker 1: His failure.
• 34:35
  Speaker 3: His first two car companies failed investors pulled.
• 34:38
  Speaker 1: Out what was his turnaround?
• 34:41
  Speaker 3: Built Ford Motor Company and revolutionized modern manufacturing. One step further,
• 34:46
  Speaker 3: there were about one hundred and ten give or take
• 34:51
  Speaker 3: car companies between the year nineteen hundred and nineteen ten.
• 34:56
  Speaker 3: I believe that started in this revolution of the automobile,
• 35:00
  Speaker 3: all the revolution of horses, very much like we're in
• 35:02
  Speaker 3: the AI revolution today. And all these companies jumping into
• 35:05
  Speaker 3: the fray and throwing billions of dollars tends to billion
• 35:07
  Speaker 3: of dollars, trying to be the first to market and
• 35:09
  Speaker 3: trying to distinguish themselves during this automobile situation this decade.
• 35:13
  Speaker 3: Most of these companies failed, and you're seeing the remnants
• 35:17
  Speaker 3: of some of those companies which are now brands in
• 35:20
  Speaker 3: other companies. Christ it was its own company, Dodge was
• 35:22
  Speaker 3: his own company. A lot of these, you know, Cadillac,
• 35:27
  Speaker 3: a lot of these things that you take for granted,
• 35:30
  Speaker 3: were standalone companies, and some of them just failed and
• 35:34
  Speaker 3: you don't even hear about them anymore. Well, one of
• 35:38
  Speaker 3: the problems was cost containment and efficiency, and Henry Ford
• 35:44
  Speaker 3: got an idea around manufacturing, which was his revolution, was
• 35:49
  Speaker 3: the assembly line. But he couldn't get workers to do this.
• 35:53
  Speaker 3: What was became not in this work on the assembly line,
• 35:56
  Speaker 3: so we had to pay them more to do this
• 35:58
  Speaker 3: monotonous work. Well, he ended up paying them enough to
• 36:02
  Speaker 3: buy the autobiles that they were actually making, which they
• 36:05
  Speaker 3: did aspirationally, and he ended up by accident birthing the
• 36:10
  Speaker 3: middle class in America. It came from that experiment. He
• 36:14
  Speaker 3: also then birthed a huge success with this growth of
• 36:19
  Speaker 3: the Ford Motor Company. By the way, the founder of
• 36:23
  Speaker 3: Motown Music Company, Barry Gordy, got the idea of his
• 36:32
  Speaker 3: Motown Music Company and how he was going to become
• 36:34
  Speaker 3: a production facility in house. Everything produced in house, writing, producing,
• 36:40
  Speaker 3: direct not directing, writing, producing, manufacturing, talent development, all the stuff,
• 36:45
  Speaker 3: the assembly line of talent came from him working at
• 36:52
  Speaker 3: the Ford Motor Company. That's a little known story. And
• 36:56
  Speaker 3: so out of failure came to successes Henry Ford and
• 37:00
  Speaker 3: Barry Gordy.
• 37:01
  Speaker 1: Is deep, isn't it.
• 37:04
  Speaker 3: Arianna Huffington, who I know rejected thirty six times her failure.
• 37:09
  Speaker 3: Her second book was rejected by a publisher thirty six times.
• 37:14
  Speaker 3: Thirty six publishers said no, this is stupid, get it
• 37:17
  Speaker 3: away from me.
• 37:18
  Speaker 1: Her turnaround.
• 37:19
  Speaker 3: She later founded the Huffington Post, one of the most
• 37:22
  Speaker 3: influential digital media brands in the world, and she's hugely
• 37:26
  Speaker 3: successful in a nice person. Sarah Brak Blakeley, who I
• 37:30
  Speaker 3: also know, failed her law career. Did you know she
• 37:34
  Speaker 3: had a law career. Her failure, scored low on the
• 37:39
  Speaker 3: LSAT and got rejected from law school. Her turnaround invented
• 37:43
  Speaker 3: spanks with five thousand dollars investment and no outside investment investors,
• 37:50
  Speaker 3: became the youngest self made female billionaire. And she's a
• 37:55
  Speaker 3: pretty cool person and her husband is also an entrepreneur.
• 38:00
  Speaker 1: You wouldn't know that from the story.
• 38:03
  Speaker 3: You just assumed looking at her today, she's always been beautiful,
• 38:05
  Speaker 3: successful and her life is perfect.
• 38:07
  Speaker 1: No, not true. She's had to.
• 38:09
  Speaker 3: Reinvent and reimagine every step of the way. Stephen King, Yes,
• 38:15
  Speaker 3: Stephen King. He threw the movie Carrie in the trash.
• 38:23
  Speaker 3: His first manuscript, Carrie, was rejected thirty times. He threw
• 38:27
  Speaker 3: it away. What's his turnaround story? Listen now? His wife
• 38:31
  Speaker 3: rescued it. Today. It sold over three hundred and fifty
• 38:36
  Speaker 3: million books worldwide. It was a book then, of course adapted.
• 38:41
  Speaker 3: And let me tell you now about my story. I
• 38:48
  Speaker 3: grew up in competence, south central LA. And if you
• 38:50
  Speaker 3: were listening to this podcast, you'd probably know most of this,
• 38:53
  Speaker 3: So I won't bore you with this. I want to
• 38:54
  Speaker 3: get you to get back around to some lessons I
• 38:56
  Speaker 3: want you to take from this podcast episode that are
• 38:59
  Speaker 3: practical and useful for you as regard to your mindset.
• 39:02
  Speaker 3: But you may or may not know I'm do this
• 39:04
  Speaker 3: with it clicked crib notes for me. I grew up
• 39:06
  Speaker 3: in south central LA in Compton. I. I was born
• 39:10
  Speaker 3: at Good Samaritan Hospital. My mom and dad created a little,
• 39:14
  Speaker 3: you know, conglomerate for a black family with a high
• 39:17
  Speaker 3: school education. My dad was from Alabama. Mother was effectively
• 39:22
  Speaker 3: well from Alabama also, but she grew up at Eas
• 39:24
  Speaker 3: Saint Louis. They got together, moved to South central LA,
• 39:28
  Speaker 3: where they had me at Good Samaritan Hospital. They owned
• 39:30
  Speaker 3: a gas station at Vernon in Normandy on the southeast corner.
• 39:36
  Speaker 1: It's still there to this day.
• 39:38
  Speaker 3: We owned a house on Santa Barbara Boulevard now called
• 39:41
  Speaker 3: Martina King Boulevard. We owned the eight unit apartment building
• 39:44
  Speaker 3: which we bought for eighteen thousand dollars. You could make
• 39:47
  Speaker 3: the mortgage payment of two hundred semi dollars on the
• 39:50
  Speaker 3: income of two of the units that were rented out
• 39:52
  Speaker 3: of the eight units, which and they lived in the
• 39:54
  Speaker 3: third one, which means the rest of it was profit.
• 39:56
  Speaker 3: They just did that. That won property today is worth
• 39:59
  Speaker 3: eight million dollars last time I checked. We owned our
• 40:03
  Speaker 3: own home, We owned a CMN contracting business, we owned
• 40:06
  Speaker 3: a nursery business. They were hustlers. My mother was a
• 40:09
  Speaker 3: seamstress part time. They lost everything, and that's another podcast.
• 40:15
  Speaker 3: You can go back and listen to the podcast I
• 40:17
  Speaker 3: did on my mother. I didn't want to, I think
• 40:19
  Speaker 3: on my father. I didn't want on my own failure story.
• 40:22
  Speaker 3: But they lost everything. And my mother could have taken
• 40:24
  Speaker 3: my dad to the cleaners because California's community property state
• 40:27
  Speaker 3: fifty to fifty, and she could have taken literally everything
• 40:30
  Speaker 3: he had because she had the children. She had me
• 40:33
  Speaker 3: and my brother Donnie, and my sister Monty Maria hot
• 40:36
  Speaker 3: Maa we call her, and originally Marra Hoskins.
• 40:40
  Speaker 1: And she didn't.
• 40:44
  Speaker 3: My mother chose to leave with the kids and her
• 40:47
  Speaker 3: own self determination and with the eight fifty four credit
• 40:50
  Speaker 3: score and hustled in her heart, working an hourly job,
• 40:52
  Speaker 3: became a millionaire later in her life, working in an
• 40:57
  Speaker 3: hourly job, buying and selling self and home, putting down
• 41:00
  Speaker 3: payments on my mos on a home for my sister,
• 41:02
  Speaker 3: down payments home for my brother, getting me out of
• 41:05
  Speaker 3: trouble when I had a dead eye oled of seventy
• 41:08
  Speaker 3: thousand dollars.
• 41:08
  Speaker 1: She loaned me the money I paid her back.
• 41:11
  Speaker 3: But she did all that just as a working class
• 41:13
  Speaker 3: woman with a high school education in a fifteen to
• 41:16
  Speaker 3: eighteen dollars an hour job for thirty two years, and
• 41:18
  Speaker 3: she made handicrafts part time, and so that to her work,
• 41:21
  Speaker 3: to her employees. She had a life insurance policy, a will,
• 41:25
  Speaker 3: and she had real estate that she just kept. She
• 41:27
  Speaker 3: died with the men now net worth up from nothing right,
• 41:31
  Speaker 3: and my dad unfortunately passed away. Even though he was
• 41:33
  Speaker 3: a businessman and very savvy as a businessman, he wasn't
• 41:36
  Speaker 3: savvy on money and financially literate and refused to learn
• 41:40
  Speaker 3: lessons and pride kills. I ended up having to take
• 41:43
  Speaker 3: care of my dad for the rest of his life. Anyway,
• 41:46
  Speaker 3: they're both been promoted on the glory. I learned these
• 41:49
  Speaker 3: lessons hard about money early on. My family network destroyed.
• 41:54
  Speaker 3: We lost that department building, by the way, destroyed by
• 41:58
  Speaker 3: financial literacy. That's why I'm so passionate about a date
• 42:00
  Speaker 3: Rainbows after storms.
• 42:03
  Speaker 1: You know.
• 42:03
  Speaker 3: Operation Hope, which you all know about it by now,
• 42:07
  Speaker 3: is the biggest financial literacy organization in America. And by extension,
• 42:10
  Speaker 3: probably the world the largest black mail founded community based
• 42:14
  Speaker 3: nonprofit ever founded in America. Seventy five million dollars budget,
• 42:18
  Speaker 3: four point five billion dollars invested in communities, millions of clients,
• 42:21
  Speaker 3: fifteen hundred offices. You hear all this stuff, what you
• 42:24
  Speaker 3: may not know is that it almost went broke several times.
• 42:28
  Speaker 1: Right.
• 42:30
  Speaker 3: In fact, what was really embarrassing was you had this
• 42:33
  Speaker 3: guy promoting financial literacy, but the organization was not financially
• 42:38
  Speaker 3: solvent for many, many, many years. And I was talking
• 42:42
  Speaker 3: about I mean people, I raised some early money as
• 42:45
  Speaker 3: media attention, but the world really wasn't ready for me
• 42:48
  Speaker 3: in nineteen ninety two and the nineties, and people laughed
• 42:51
  Speaker 3: at me. They dismissed me, and the organization struggled for
• 42:57
  Speaker 3: sustainable funding and buying from major major corporation and the
• 43:00
  Speaker 3: corporation companies you see now, they weren't there back then.
• 43:03
  Speaker 3: Nobody believed in me. People just sort of waved me away.
• 43:06
  Speaker 3: We were trying to sell financial literacy before anyone knew
• 43:09
  Speaker 3: what that even meant. People didn't. They just didn't get it.
• 43:13
  Speaker 3: Banks didn't fund it, governments didn't support it, and I
• 43:18
  Speaker 3: didn't know.
• 43:19
  Speaker 1: How to scale it.
• 43:20
  Speaker 3: Yet there were moments, a real low point where I
• 43:25
  Speaker 3: really almost went broke with Operation Hope. My personal credit
• 43:30
  Speaker 3: was shot. After I founded Operation Hope, I was trying
• 43:34
  Speaker 3: to save a nonprofit while losing grip on my own finances.
• 43:37
  Speaker 3: I let my own business drift away when I was
• 43:40
  Speaker 3: in my twenties, trying to do something for community. It
• 43:43
  Speaker 3: may not have been the best thing in the world,
• 43:45
  Speaker 3: but I was committed and I had a vision. Imagine
• 43:50
  Speaker 3: trying to teach America about money when you're struggling to
• 43:53
  Speaker 3: make rent. I had to decide whether the mission was
• 43:56
  Speaker 3: worth my last dollar. I bet on Hope, had to
• 44:00
  Speaker 3: start over several times, and I just never ever ever
• 44:04
  Speaker 3: gave up. I founded the Promise Homes Company, and you know,
• 44:09
  Speaker 3: that wasn't easy, and I had to learn the lesson
• 44:12
  Speaker 3: in the language of Wall Street, the structure of institutional capital,
• 44:16
  Speaker 3: the discipline of enterprising, building an enterprise and making it scalable. Yeah,
• 44:22
  Speaker 3: I had a major success and I built the company
• 44:24
  Speaker 3: and sold it. But that was not easy. I mean
• 44:26
  Speaker 3: I had I had miss deals, missteps, missed moments. I
• 44:31
  Speaker 3: mean I had times with my and my partners were
• 44:34
  Speaker 3: looking at me crazy when I you know, I was
• 44:36
  Speaker 3: growing the company, but you know, believed and turned it around.
• 44:42
  Speaker 3: And again I've done a Hope episode on that and
• 44:47
  Speaker 3: sold the company for north of one hundred million dollars
• 44:51
  Speaker 3: and had you know, a couple of hundred million dollars
• 44:53
  Speaker 3: credit facility tied to it, and I sold it into
• 44:56
  Speaker 3: a joint venture for which I own as a limited
• 45:00
  Speaker 3: partner at stake in and I'll probably be transitioning out
• 45:03
  Speaker 3: of that soon. I was resign as chairman last year
• 45:06
  Speaker 3: because I'm just not involved in the business and if
• 45:09
  Speaker 3: I can't control the narrative and know where it's going
• 45:12
  Speaker 3: and have some influence over it, I you know, I
• 45:15
  Speaker 3: don't have an ego about it. I'm like if if if,
• 45:17
  Speaker 3: if I know, been there, done that, have the T shirt?
• 45:19
  Speaker 3: I prove I could build a company and sell it
• 45:22
  Speaker 3: on Wall Street they call it clip a coupon on
• 45:24
  Speaker 3: Wall Street. I prove that I could build a company
• 45:26
  Speaker 3: from the streets and sell it to Wall Street institutional investors.
• 45:31
  Speaker 3: And so nothing that's enough to prove there. And so
• 45:34
  Speaker 3: I'm still a limited partner, but again I'm going to
• 45:37
  Speaker 3: probably transition out of that completely here soon. Let them
• 45:40
  Speaker 3: go do what they want to do, and I'm going
• 45:44
  Speaker 3: to do something else, and I'm good with that. Right,
• 45:47
  Speaker 3: So you don't fall. You just you just if you're
• 45:49
  Speaker 3: going to fall, fall forward, but you're not. It's not
• 45:52
  Speaker 3: a failure when something doesn't work out the way you
• 45:54
  Speaker 3: wanted to. It's the end of an experiment. That's all
• 45:57
  Speaker 3: it is.
• 45:57
  Speaker 1: Right.
• 45:58
  Speaker 3: No one teaches you how to run a two hundre
• 46:00
  Speaker 3: a million dollar business in Compton, California. But I learned
• 46:05
  Speaker 3: by failing, by asking and by doing. See all these
• 46:10
  Speaker 3: books around me, I'm constantly learning. Quincy Jones, dear friend
• 46:14
  Speaker 3: of mine, how'd you get so smart?
• 46:16
  Speaker 1: Quincy? Answer?
• 46:17
  Speaker 3: I'm just nosy as hell. I want to know everything
• 46:20
  Speaker 3: about everything. God gave you two years and one mouth,
• 46:23
  Speaker 3: so you listen twice as much as you talk. So
• 46:26
  Speaker 3: from failures, you know, the failures became a blueprint in
• 46:30
  Speaker 3: many ways. Operation Hope today is a seventy five million
• 46:33
  Speaker 3: dollar give it take budget, one of the largest black
• 46:36
  Speaker 3: male founded and run nonprofits even to this day. Again sold,
• 46:42
  Speaker 3: you know, built and sold a major real estate business.
• 46:45
  Speaker 3: A co chair national initiatives including the AI Ethics Council
• 46:48
  Speaker 3: with Sam Autman and Financial Literacy for all with Doug
• 46:52
  Speaker 3: mc millan of Walmart CEO was a great guy. But
• 46:56
  Speaker 3: none of this would have happened without my failures. I've
• 46:59
  Speaker 3: been broke, I've been underestimated, I've been embarrassed, but I've
• 47:01
  Speaker 3: never been done. Failure didn't stop me, It shaped me.
• 47:07
  Speaker 3: Who I asked failure, What lessons you have to teach me?
• 47:25
  Speaker 3: And I was there to be the writer of my
• 47:29
  Speaker 3: last chapter?
• 47:30
  Speaker 1: What about you?
• 47:31
  Speaker 3: So going back now to your lessons? Okay, here's some
• 47:36
  Speaker 3: stuff I want you to spend some time on and understand.
• 47:40
  Speaker 3: Number one, well, here's some useless emotions. Guilt, shame, blame, judgment.
• 47:49
  Speaker 3: As Bible suggests, don't throw rocks in the grass glass house,
• 47:52
  Speaker 3: you might hit yourself. Right, So guilt, shame, blame, judgment.
• 47:58
  Speaker 3: Who is the right to judge you? That's between you
• 48:00
  Speaker 3: and God. There is no perfect I started out by
• 48:02
  Speaker 3: saying that, So, like people want to judge you, like,
• 48:06
  Speaker 3: consider the source who's talking to you? If somebody's going
• 48:08
  Speaker 3: to give you some critique or criticism, consider the source.
• 48:12
  Speaker 3: Are they successful?
• 48:13
  Speaker 1: Right?
• 48:14
  Speaker 3: We often spend our time trying to model and press somebody.
• 48:16
  Speaker 3: We don't even want to be, Like, who's telling you?
• 48:19
  Speaker 3: That you can't do it? Did they do it? Who's
• 48:22
  Speaker 3: telling you can't succeed? Did they succeed at a high level?
• 48:26
  Speaker 3: Who's telling you can't be a homeowner? Do they own
• 48:28
  Speaker 3: a home? Who's telling you can to be a business owner?
• 48:31
  Speaker 3: Have they had a successful business? Who's telling you can't
• 48:34
  Speaker 3: buy a business? Make a business and sell it on
• 48:37
  Speaker 3: Wall Street? Have they made a business and sold it
• 48:38
  Speaker 3: on Wall Street, or on Main Street, or on any street?
• 48:42
  Speaker 3: Consider the source. I tell people all the time, I
• 48:45
  Speaker 3: like what I'm doing much better than what you're not doing.
• 48:49
  Speaker 3: That's right. I like what I'm doing much better than
• 48:51
  Speaker 3: what you're not doing.
• 48:53
  Speaker 1: Right.
• 48:53
  Speaker 3: Criticism is a cheap sport. People standing on the sidelines
• 48:56
  Speaker 3: throwing rocks cannot get in the game and play themselves.
• 49:00
  Speaker 3: But they are professional critics. I don't need a chief
• 49:02
  Speaker 3: criticism officer. I need a partner. I need a contributor.
• 49:05
  Speaker 3: All right, hustle over everything, see my T shirt. Hustle
• 49:09
  Speaker 3: over everything. That's what I'm talking about. Perfectionism. Right, you're
• 49:16
  Speaker 3: waiting to be perfect, You'll wait forever. There is no perfectionism,
• 49:19
  Speaker 3: there is no perfect This is the best you can do.
• 49:21
  Speaker 3: So become perfect and you're in perfection and leave the
• 49:24
  Speaker 3: rest of that stuff alone. Just relax. I used to
• 49:27
  Speaker 3: walk around my rear end tight all the time I
• 49:28
  Speaker 3: wanted to be Trying to be perfect might give myself
• 49:30
  Speaker 3: high pertension and anxiety. Like, just chill, right, if you're
• 49:35
  Speaker 3: going to pray, why worry? You're gonna worry? Why pray?
• 49:39
  Speaker 3: Number two, you have fear of judgment. You care too
• 49:44
  Speaker 3: much about about what people think. That fear will trap you.
• 49:51
  Speaker 3: We have in church, yet come on now, talk to me,
• 49:53
  Speaker 3: Talk to me now. There are some people who have
• 49:57
  Speaker 3: an imposters syndrome, right, They fear that they really are
• 50:04
  Speaker 3: not who they purport to be. Well, without God, without
• 50:11
  Speaker 3: a higher power pouring into us, without us having the
• 50:13
  Speaker 3: humility of understanding that we are enlightened because we have
• 50:16
  Speaker 3: been set in the light. We've been given a gift
• 50:18
  Speaker 3: and we got to do something with it without help
• 50:21
  Speaker 3: from the universe. Yeah, you might be an impostor. But
• 50:26
  Speaker 3: if you know that you're God's child and you're special,
• 50:28
  Speaker 3: and you're here to make a difference, and you've got
• 50:30
  Speaker 3: gifts to share, you just catching up with your potential,
• 50:33
  Speaker 3: that's all you're doing. But imposter syndrome is real mentally,
• 50:37
  Speaker 3: particularly if you have depression and low self esteem, and
• 50:40
  Speaker 3: a lot of people will leave. I was sawing a
• 50:42
  Speaker 3: lady today when I came into the airport. She was
• 50:45
  Speaker 3: my greet and she was saying, she's in a relationship
• 50:48
  Speaker 3: and she just feels like her partner everything's going well.
• 50:51
  Speaker 3: Her partner's trying to almost like destroy the relationship. She
• 50:54
  Speaker 3: can't figure out why things are going so well. I
• 50:56
  Speaker 3: told her some imposter syndrome. That brother probably comes from
• 50:59
  Speaker 3: an unstable family, unstable situation, doesn't know what stable looks like,
• 51:03
  Speaker 3: and it scares him.
• 51:04
  Speaker 1: And before you.
• 51:05
  Speaker 3: Can leave him, he's going to leave you, Before you
• 51:09
  Speaker 3: can leave him, He's going to create an environment where
• 51:11
  Speaker 3: that is unsustainable in a relationship. So he can't be disappointed,
• 51:13
  Speaker 3: so he can't be hurt, so his heart, his heart
• 51:15
  Speaker 3: is not broken. And that sound crazy, but people do
• 51:18
  Speaker 3: this all the time. Hurt people, hurt people, hurt people,
• 51:23
  Speaker 3: hurt people. As an old Southern saying, no matter how
• 51:26
  Speaker 3: much I love you, my son and my daughter, if
• 51:28
  Speaker 3: I don't have wisdom, all I can give you is
• 51:29
  Speaker 3: my own ignorance, And so out of love we pass
• 51:32
  Speaker 3: down habits from bad habits from generation to generation. If
• 51:35
  Speaker 3: I don't like me, if I don't like me, I'm
• 51:37
  Speaker 3: not gonna like you. But I don't feel good about me.
• 51:39
  Speaker 3: I'm not gonna feel good about you. But I don't
• 51:41
  Speaker 3: respect me. Don't respect me to respect you. I don't
• 51:43
  Speaker 3: love me. I don't have a clue how to love you.
• 51:46
  Speaker 3: And if I don't have a purpose in my life,
• 51:47
  Speaker 3: I'll make your life a living hell. Whatever goes around
• 51:52
  Speaker 3: comes around. So this dude who he loves her, but
• 51:56
  Speaker 3: he doesn't love himself.
• 51:57
  Speaker 1: Right.
• 51:58
  Speaker 3: I asked a friend of mine years ago, why does
• 52:01
  Speaker 3: a genius like John Belushi or Marilyn Monroe? These were
• 52:06
  Speaker 3: for those who are not like movie buffs are entertainment
• 52:10
  Speaker 3: celebrity buffs. These are heroes. And she rose of you know,
• 52:14
  Speaker 3: the eighties and nineties or Maryland's before that sixties. Why
• 52:20
  Speaker 3: did Marilyn Monroe, John Belushi go out like that take
• 52:23
  Speaker 3: their own life? And she said she was a rose.
• 52:28
  Speaker 3: Catherine Pinkney was her name?
• 52:29
  Speaker 1: Is her name?
• 52:30
  Speaker 3: Friend of mine? She's at an executive at a studio.
• 52:32
  Speaker 3: She said, the same thing that gives them creative genius
• 52:36
  Speaker 3: tears them up on a sunny day. They just can't
• 52:39
  Speaker 3: handle normal. They need drama. It's deep. But when you're
• 52:42
  Speaker 3: emotionally unstable, you don't want things to be normal. You
• 52:46
  Speaker 3: need the drama of it all, which is going to
• 52:49
  Speaker 3: ultimately destroy you. So it gives you brilliance. But that candle,
• 52:53
  Speaker 3: that burning is going to burn you up too. So
• 52:55
  Speaker 3: I need you to get into your dharma head to
• 52:58
  Speaker 3: peel your pain. Number three over confidence. Smart folks believe
• 53:06
  Speaker 3: they can't lose, but they forget to prepare. They also
• 53:10
  Speaker 3: fail the Andrew Young tests of men and women fail
• 53:13
  Speaker 3: for three reasons, he said, arrogance, pride, and greed. I'm
• 53:17
  Speaker 3: dealing with some folks right now full of pride and
• 53:20
  Speaker 3: arrogance and probably agreed to and they can't help themselves.
• 53:23
  Speaker 3: They can't get out of their own way, and in
• 53:26
  Speaker 3: my opinion, they can't help but fail even though they're
• 53:30
  Speaker 3: really smart. So you got to step over mess and
• 53:33
  Speaker 3: not in it right and always treat people as you
• 53:35
  Speaker 3: want to be treated, and be gracious and kind and
• 53:38
  Speaker 3: loving even if it costs you something. Right, you want
• 53:43
  Speaker 3: to be able to look yourself in the mirror. And
• 53:48
  Speaker 3: I go to life, I go to bed, I go
• 53:49
  Speaker 3: to life. I go to life too. I go to
• 53:50
  Speaker 3: bed every night completely comfortable, well reasonably comfortable with my
• 53:54
  Speaker 3: own skin. But I sleep very well, and you should
• 53:57
  Speaker 3: want to do that too. So you only have confidence,
• 53:59
  Speaker 3: but you don't want to be overconfident. You want to
• 54:01
  Speaker 3: be arrogant or cocky, or you want to be light right,
• 54:08
  Speaker 3: to carry your gifts lightly right, and again treat others
• 54:13
  Speaker 3: as you have them as you want to be treated yourself.
• 54:15
  Speaker 3: That's actually biblical Number four, not asking for help. Pride
• 54:20
  Speaker 3: will bankrupt your progress. Number five ego and identity. Being
• 54:25
  Speaker 3: smart becomes your identity, So failing feels like you are
• 54:30
  Speaker 3: you are the failure, right because that is your identity.
• 54:32
  Speaker 3: And goes back to what I said before about low
• 54:34
  Speaker 3: self esteem. You can actually have high confidence and low
• 54:36
  Speaker 3: self esteem happens all the time. Or you have these
• 54:39
  Speaker 3: tech geniuses from the Silicon Valley where theirs some of
• 54:42
  Speaker 3: them some of them with a blind spy called people.
• 54:45
  Speaker 3: Or you have also financial geniuses, and they think because
• 54:47
  Speaker 3: they're tech geniuses are financial geniuses. They're literally geniuses. That
• 54:51
  Speaker 3: means they're successful or genius that that means that they
• 54:53
  Speaker 3: can translate that success in every other part of their life.
• 54:56
  Speaker 3: That because they're smart there. That means they know everything
• 54:59
  Speaker 3: else not true and they will they will fail massively.
• 55:03
  Speaker 3: You can have high IQ and not have a high EQ. Right,
• 55:07
  Speaker 3: Am I getting too deep here? So you have to
• 55:09
  Speaker 3: have you really have humility and knowing what you don't,
• 55:14
  Speaker 3: acknowledging that that you don't know some stuff actually brings
• 55:18
  Speaker 3: you credibility. My friend of mine is Sam Autman, who
• 55:21
  Speaker 3: I think is a modern day Steve Jobs. And when
• 55:24
  Speaker 3: we talk about artificial intelligence, you know, I asked him
• 55:28
  Speaker 3: about the upside and the downside, and so what the
• 55:30
  Speaker 3: upside is we make your cancer in ten years. The
• 55:33
  Speaker 3: downside is it's something really bad might happen and I
• 55:36
  Speaker 3: don't know what it is. He said, So that I
• 55:38
  Speaker 3: mean that was humility. That took humidity for him to
• 55:41
  Speaker 3: say that. That made me trust him more, not less.
• 55:45
  Speaker 3: He's a founder of open A, the CEO open AI.
• 55:51
  Speaker 1: Six.
• 55:52
  Speaker 3: Overthinking analysis is paralysis. Right, action is the cure. Stop
• 55:58
  Speaker 3: overthinking stuff, Stop stop up nabl gazing, stop admiring the problem.
• 56:02
  Speaker 1: Right.
• 56:04
  Speaker 3: So, smart people fail because they think their brain is
• 56:08
  Speaker 3: the tool. Right, But it's the bounce back that builds wealth,
• 56:14
  Speaker 3: power and purpose. So I tell people all the time
• 56:19
  Speaker 3: don't let the perfect become the death of the good.
• 56:23
  Speaker 1: Just get up and do something.
• 56:24
  Speaker 3: Why do you think your phone has My phone is
• 56:27
  Speaker 3: an iPhone and my phone is in the sixteen pro,
• 56:31
  Speaker 3: but the software upgrade that I'll last check was eighteen
• 56:33
  Speaker 3: points something, which means every time you get that phone,
• 56:36
  Speaker 3: within weeks of you getting it, there's a patch, a
• 56:39
  Speaker 3: software upgrade they're doing. Because it's not perfect, right, it's
• 56:43
  Speaker 3: just good. It's a good phone. It's good enough that
• 56:45
  Speaker 3: got in the market. They wait for it to be perfect.
• 56:47
  Speaker 3: They never would issue a phone. They issue the phone
• 56:50
  Speaker 3: it's really a computer, and then they send you a
• 56:53
  Speaker 3: software upgrade, a patch every few weeks, and you deal
• 56:57
  Speaker 3: without thinking about it. So why aren't you treating yourself
• 56:59
  Speaker 3: the same way? Understand you're in this world. God puts
• 57:02
  Speaker 3: you in this world, right, He put you in the game.
• 57:04
  Speaker 3: Don't wait for the perfect it's not coming right. Just
• 57:07
  Speaker 3: getting the game to the very best you can and
• 57:09
  Speaker 3: keep getting software upgrades, keep reading books, being nosy, keep learning.
• 57:13
  Speaker 3: Listening to the podcast like this, you know, realizing God
• 57:17
  Speaker 3: gave you two ears in one mouth, so you listen
• 57:20
  Speaker 3: twice as much as you talk. Be humble, be nosy,
• 57:22
  Speaker 3: Be curious, be fascinated, Be a contributor, be a net
• 57:26
  Speaker 3: giver in life, in life with opportunity. Okay, I'm almost
• 57:36
  Speaker 3: wrapped up here. I hope you're enjoying this. Here are
• 57:40
  Speaker 3: some practical tools and habits for you to build resiliency,
• 57:45
  Speaker 3: and I hope you're enjoying this. Normalize failure, expect it,
• 57:52
  Speaker 3: don't fear it, learn from it. Two reframe the story
• 57:57
  Speaker 3: instead of I failed, say that was a lesson?
• 58:01
  Speaker 1: What next? Again?
• 58:03
  Speaker 3: I take no for vitamins. Number three, Keep a learning journal.
• 58:08
  Speaker 3: A learning journal, track mistakes, extract value. Four Take micro risks,
• 58:18
  Speaker 3: small bets, daily discomfort. It builds confidence. Five share the journey, vulnerability,
• 58:26
  Speaker 3: Invite support. People want to help those who are real.
• 58:30
  Speaker 3: I ask for people all the time to help me.
• 58:33
  Speaker 3: I don't understand this, and I don't understand that. Can
• 58:34
  Speaker 3: you help me figure this thing out? I'm nosy, I'm curious.
• 58:37
  Speaker 3: I'm always trying to learn, and I go to experts
• 58:40
  Speaker 3: who may know something more than me, and that asking
• 58:43
  Speaker 3: if somebody told me to earlier day, friend of mine,
• 58:45
  Speaker 3: are I really respect? If you Phil Griffin's name, if
• 58:48
  Speaker 3: you ask for money from somebody, successful they'll give you advice,
• 58:53
  Speaker 3: but if you ask for advice, they may give you money.
• 58:56
  Speaker 3: And that is really true. Right, that's another the podcast
• 59:00
  Speaker 3: for another day, But that actually is a crib note.
• 59:03
  Speaker 3: That's like a cheat sheet. That's really true. People you
• 59:07
  Speaker 3: want to turn me off, come to me and ask
• 59:09
  Speaker 3: me for money, like just complete turn off. I mean
• 59:11
  Speaker 3: it's simplistic. Also, and also it anyway, and yeah, just
• 59:16
  Speaker 3: don't do it. Have genuine relationships and genuine interests. Number six.
• 59:22
  Speaker 3: Build a circle that checks, that checks you, iron sharpens iron.
• 59:27
  Speaker 3: Your brain needs a crew. Hello again, If you hang
• 59:30
  Speaker 3: around nine broke people, you'll be the tenth. The opposite
• 59:32
  Speaker 3: is also true. Number seven. Detach your identity from your results.
• 59:39
  Speaker 3: You are not your resume. You are your resilience. Number eight.
• 59:44
  Speaker 3: Play the long game. I can't say, I can't stress
• 59:47
  Speaker 3: this enough. You make money during the day, you build
• 59:49
  Speaker 3: well in your sleep. It's another Tony Rest quote. Play
• 59:52
  Speaker 3: the long game. Zoom out of your life. Zoom out.
• 59:56
  Speaker 3: Stop obsessing on this thing in front of you. I
• 59:59
  Speaker 3: walk through life constantly oblivious to most things because most
• 1:00:02
  Speaker 3: things just don't matter. Zoom out. This failure you're obsessing
• 1:00:06
  Speaker 3: on won't even register. On your life's map in five
• 1:00:10
  Speaker 3: years if you keep going again making this Bringing this
• 1:00:15
  Speaker 3: back Home by friend Tony say, if you don't quit,
• 1:00:18
  Speaker 3: you can't fail. So you're listening to this right now
• 1:00:21
  Speaker 3: and you've failed recently, good, That means you're in the game.
• 1:00:25
  Speaker 3: The smartest thing you can do is to stay in
• 1:00:27
  Speaker 3: the ring, keep swinging and keep learning. Remember, the smartest
• 1:00:31
  Speaker 3: people don't win because they're smart. They win because they're stubborn.
• 1:00:36
  Speaker 3: They're stubborn about the vision and flexible in their approach.
• 1:00:40
  Speaker 3: I want you to tell people about this podcast, encourage
• 1:00:43
  Speaker 3: them to subscribe. Get my book, which is now I'm
• 1:00:46
  Speaker 3: now out in paperback, Financial Literacy for All. It's still
• 1:00:49
  Speaker 3: a number one best seller a year after it's issuing.
• 1:00:52
  Speaker 3: So thank you everybody for that. Financial Literacy for All.
• 1:00:55
  Speaker 3: I have six books in total. Go to Operation Hope
• 1:00:58
  Speaker 3: and tell them I sent you. They'll offer you a
• 1:01:00
  Speaker 3: one thousand dollars coaching scholarship good for twelve months at
• 1:01:04
  Speaker 3: an Operation Hope hoping side location near you or online.
• 1:01:09
  Speaker 3: This is one thousand dollars that will help you at
• 1:01:12
  Speaker 3: like a private banker, wrap around you, wrap all the
• 1:01:14
  Speaker 3: support around you. One on one coaching and counseling, get
• 1:01:17
  Speaker 3: your credit score up, your debt down, your savings up,
• 1:01:20
  Speaker 3: so a bank can tell you, yes, a bank, credit union,
• 1:01:23
  Speaker 3: a credit provider of prime credit to get you in
• 1:01:26
  Speaker 3: this game, in this opportunity economy. And I really run
• 1:01:30
  Speaker 3: out of time here, and I really should shut up
• 1:01:32
  Speaker 3: because I've talked way way too much. But I also
• 1:01:36
  Speaker 3: want to leave you with some practical hope. So let's
• 1:01:39
  Speaker 3: say you've been laid off from a job, or you've
• 1:01:42
  Speaker 3: been one of the people you know that's been fired
• 1:01:45
  Speaker 3: from the federal government or whatever, and you're trying to
• 1:01:47
  Speaker 3: figure out how you're going to replace that income and
• 1:01:49
  Speaker 3: how you reset your life at thirty or forty or
• 1:01:52
  Speaker 3: fifty years of age. I'm gonna give you some a
• 1:01:54
  Speaker 3: couple of real practical examples you may not be thinking of.
• 1:01:57
  Speaker 3: Did you know, and I'm gonna do a social media
• 1:01:59
  Speaker 3: post just on this, did you know that there's a
• 1:02:02
  Speaker 3: massive need in the age of artificial intelligence? There's a
• 1:02:06
  Speaker 3: massive need for by twenty thirty off almost a million
• 1:02:11
  Speaker 3: plumbers and electricians. And you're like, John, did you say
• 1:02:15
  Speaker 3: of all that your breath to tell me that hold on,
• 1:02:18
  Speaker 3: watch check this out. There's a six percent projected annual
• 1:02:22
  Speaker 3: growth rate for plumbers. There's a need of about forty
• 1:02:26
  Speaker 3: thousand plumbers a year because people are aging, they're leaving
• 1:02:30
  Speaker 3: the job. You know, there's enough, you know, there's not
• 1:02:33
  Speaker 3: enough immigrants and young people coming up to take the positions,
• 1:02:37
  Speaker 3: which is while we need diversity and immigration, that's a
• 1:02:39
  Speaker 3: whole other conversation. Electricians not a very similar story. Eleven
• 1:02:44
  Speaker 3: percent annual growth rate, eighty thousand job openings every year,
• 1:02:48
  Speaker 3: same sort of situation, and you're like, I'm not interested
• 1:02:51
  Speaker 3: being a plumber or an electrician. Really check this out,
• 1:02:53
  Speaker 3: because you can't AI, you're plumbing, can't AI electrically your
• 1:02:57
  Speaker 3: electrical grid. These are things that we're going to need
• 1:02:59
  Speaker 3: for ever, and these needs are going to expand, and
• 1:03:03
  Speaker 3: so check this out. Entry level plumber about fifty two
• 1:03:06
  Speaker 3: thousand dollars a year. Hello, you can get you can
• 1:03:10
  Speaker 3: get a trade certificate for this. You'll need to go
• 1:03:12
  Speaker 3: to a four year university or college and make fIF
• 1:03:14
  Speaker 3: twenty five dollars an hour. A journeyman plumber sixty four thousand,
• 1:03:19
  Speaker 3: sixty five thousand a year, a master plumber meeting income
• 1:03:23
  Speaker 3: hold on one hundred and ten thousand dollars a year.
• 1:03:28
  Speaker 3: Overall meeting income for a plumber, you know, sixty one
• 1:03:31
  Speaker 3: thousand dollars. I mean that's that's solid middle class electrician
• 1:03:36
  Speaker 3: entry level fifty eight thousand dollars a year, about twenty
• 1:03:38
  Speaker 3: eight bucks an hour. Intermediate plumber electrician two to four
• 1:03:43
  Speaker 3: years of experience, sixty eight thousand dollars sixty nine almost
• 1:03:47
  Speaker 3: sixty nine thousand dollars a year, a senior electrician forty
• 1:03:51
  Speaker 3: six years of experience. It's like going to college, right,
• 1:03:53
  Speaker 3: but this is a practical experience. You're making money while
• 1:03:56
  Speaker 3: you're learning. Seventy four thousand dollars a year. This is
• 1:03:59
  Speaker 3: like ball and class. Oh and you're your own person.
• 1:04:03
  Speaker 3: You set your own schedule. In many case, you have
• 1:04:05
  Speaker 3: your own own business. The overall median for electrician sixty
• 1:04:09
  Speaker 3: one thousand dollars a year. Now, it could be more
• 1:04:12
  Speaker 3: than that, less than that. But the point is there
• 1:04:14
  Speaker 3: are options everywhere. Just again, as my brother Tony said,
• 1:04:17
  Speaker 3: never ever ever give up. If you don't quit, you
• 1:04:21
  Speaker 3: can't fail. John O'Brien is Money and Wealth. I'm out
• 1:04:40
  Speaker 3: Money and Wealth with John O'Brien is a production of
• 1:04:42
  Speaker 3: the Black Effect podcast network. For more podcasts from the
• 1:04:45
  Speaker 3: Black Effect Podcast Network, visit the iHeartRadio app, Apple podcasts,
• 1:04:50
  Speaker 3: or wherever you listen to your favorite shows.