Latest / Earn Your Leisure / EYL #261 Daymond John on Building $350 Million Business Empire, Shark Tank's #1 Success, & FUBU's Rise & Fal

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EYL #261 Daymond John on Building $350 Million Business Empire, Shark Tank's #1 Success, & FUBU's Rise & Fal · Earn Your Leisure

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  Speaker 1: An illegal alien from Guatemala charged with raping a child
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  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
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  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
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  Speaker 1: filming and selling child pornography in Michigan. These are just
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  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
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  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
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  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
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  Speaker 2: Sponsored by the United States Department of Homeland Security Earners.
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  Speaker 3: What's going on?
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  Speaker 4: Listen, eylu is relaunching, revamping, retooling. That's why we're creating
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  Speaker 5: So you know that EYLU already includes monthly financial planning
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  Speaker 3: Part of the.
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  Speaker 5: Revamp will include twenty seven local chapters from across the
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  Speaker 6: The biggest just got bigger.
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  Speaker 7: Head over to e y L university dot com. That's EYL.
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  Speaker 7: You n I V E R s I T Y
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  Speaker 7: dot com.
• 1:53
  Speaker 2: See you there?
• 1:54
  Speaker 8: Money coming in? Man, listen, You don't you don't. You
• 1:56
  Speaker 8: don't give a guy like me.
• 1:58
  Speaker 3: I was.
• 1:58
  Speaker 8: I was dead, broke to twenty eight years old. The
• 2:00
  Speaker 8: story goes, oh, move turned my mother's house into a factory. Well,
• 2:04
  Speaker 8: let me tell you how that turn it into a factory.
• 2:07
  Speaker 8: Three months later, I was three months later on the
• 2:09
  Speaker 8: mortgage and almost lost my mother's house. I didn't know
• 2:12
  Speaker 8: what I was doing. It wasn't because that I didn't.
• 2:14
  Speaker 8: I didn't. It wasn't because I bought lavish things. But
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  Speaker 8: I was paying for real goods and ninety days ahead
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  Speaker 8: of time, paying for a staff, paying for you know, shipping,
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  Speaker 8: and my store didn't pay me for ninety days. I
• 2:25
  Speaker 8: was being choked by the float, so I had a
• 2:26
  Speaker 8: lack of financial intelligence, so it almost went bankrupt twice.
• 2:29
  Speaker 3: Right, guys, welcome back e y L.
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  Speaker 5: This is a highly anticipated episode, something that we've been
• 2:35
  Speaker 5: working on for almost three years, three years in the making.
• 2:41
  Speaker 5: Out to Chauncey for deliberately making this as hard as
• 2:44
  Speaker 5: possible to get.
• 2:45
  Speaker 6: You put every barrier in our way. He gave us
• 2:49
  Speaker 6: fraudulent schedule.
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  Speaker 8: Now I wanted to shout out to Chrunk, Thank you, guys.
• 2:55
  Speaker 8: It's not that difficult. Chauncey and I'm dyslexic, but he
• 3:00
  Speaker 8: has a high level of dyslection. So we could have
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  Speaker 8: done this three years. We could have done this two
• 3:09
  Speaker 8: years and nine months ago. But I believe it to Chauncey,
• 3:12
  Speaker 8: Yeah make yeah, shout after dyslexics.
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  Speaker 5: Well we got it done, so damn Seohn one of
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  Speaker 5: the most legendary entrepreneurs of our generation, definitely of our culture.
• 3:26
  Speaker 5: When you look at you know, founder Foolble transitioned into
• 3:29
  Speaker 5: a motivational speaker, to a best selling author, to one
• 3:32
  Speaker 5: of the sharks on Shark Tank has reinvented himself over
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  Speaker 5: the years and become a superstar in the entrepreneurial world,
• 3:41
  Speaker 5: one of the only people in our culture that has
• 3:43
  Speaker 5: actually been able to do that.
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  Speaker 4: We've got conversations about that. Can we think of a
• 3:47
  Speaker 4: superstar businessman from our culture? We usually start with you,
• 3:51
  Speaker 4: and then we kind of start who else do we know?
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  Speaker 4: And then we can name probably three or four, but
• 3:56
  Speaker 4: definitely your name is at the fourth front of them.
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  Speaker 8: Yeah, I appreciate that. Obviously, there's many that came before me,
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  Speaker 8: Percy Sutton and Kathy Hughes and so many other people.
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  Speaker 8: But yeah, it is an honor. But it's also and
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  Speaker 8: I listened to you, you know your podcast is also
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  Speaker 8: a shame because we were talking previously to this or
• 4:16
  Speaker 8: prior to this. You know, there's very few who have
• 4:19
  Speaker 8: been able to split the world of entertainment and business effectively,
• 4:23
  Speaker 8: right and and as we know, is disgusting that I'm
• 4:27
  Speaker 8: the only African American on a on a on a
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  Speaker 8: major network that didn't come from music, sports and politics,
• 4:34
  Speaker 8: when there's so many of us as you as you
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  Speaker 8: just you know, you did other best best, embarrassed other things,
• 4:41
  Speaker 8: and a lot of people behind the scenes that they
• 4:42
  Speaker 8: don't see that look like us. Right, it shouldn't be like,
• 4:45
  Speaker 8: nothing wrong with using sports politics to even get to
• 4:47
  Speaker 8: the highest level of that. It's very hard, but yeah,
• 4:50
  Speaker 8: it's it's an honor, but it's crazy.
• 4:52
  Speaker 3: Well, first and foremot, thank you for joining us, appreciate.
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  Speaker 8: It, thank you, thanks for having me.
• 4:56
  Speaker 3: So I want to start there, Actually we can start
• 4:58
  Speaker 3: right there.
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  Speaker 5: So I've been fascinated with I've been studying this, like
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  Speaker 5: as far as having a celebrity from the world of business,
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  Speaker 5: and there's a model for it. Donald Trump, I think,
• 5:08
  Speaker 5: was one of the most successful people to actually become
• 5:12
  Speaker 5: a famous celebrity for business. Right, and then you know
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  Speaker 5: obviously the Mark Cubans of the world and now Elon
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  Speaker 5: Musk and Mark Zuckerberg in a variety of different people.
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  Speaker 5: But like you said, for our culture, the superstar entrepreneurs,
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  Speaker 5: it's their second career after sports, usually like Magic Johnson,
• 5:30
  Speaker 5: like Michael Jordan, or they're tied to music like Diddy,
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  Speaker 5: like jay Z. Very few people have been able to
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  Speaker 5: crack that code to gain that level of notoriety, fame
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  Speaker 5: and influence not attached to sports or entertainment. You did,
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  Speaker 5: was that a vision that you had early in Fooble
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  Speaker 5: or like when did you see a pathway of Okay,
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  Speaker 5: at some point, I'm going to have to transition and
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  Speaker 5: I'm going to have to build my own brand and
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  Speaker 5: become a figure that is not attached just to clothing.
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  Speaker 8: Great question, Very rare that I have been asked questions
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  Speaker 8: that I haven't been asked prior to that. There are
• 6:15
  Speaker 8: cultural and systemic reasons why a lot of times we
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  Speaker 8: have not done that. First of all, I want to
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  Speaker 8: address that is that if you look at business in general,
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  Speaker 8: it used to be making and they will come, and
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  Speaker 8: so you do have prior to obviously Trump from Trump
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  Speaker 8: came from a very celebrity standpoint. Who's you dating? Whatever
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  Speaker 8: the cases prior to that, we may have known of
• 6:34
  Speaker 8: the titans of industry, right for Rockabella da Day, But
• 6:38
  Speaker 8: as African Americans, you know, uh, you know systemically, you know,
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  Speaker 8: if you rise up in a company that most likely
• 6:47
  Speaker 8: or almost always was not from your culture, while you
• 6:51
  Speaker 8: start to intimidate people or so you got to be
• 6:54
  Speaker 8: quiet on your rise, right, so you never wanted to
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  Speaker 8: be that person in front because you know, all of
• 7:02
  Speaker 8: a sudden, you know, you offend other people that may say, well,
• 7:05
  Speaker 8: why is that person doing that? So a lot of
• 7:07
  Speaker 8: the superstars and the businesses have had to be quiet
• 7:11
  Speaker 8: to watch their back for the most part. So I
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  Speaker 8: can understand that. But you look at the other ones
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  Speaker 8: who come from these other areas, they were already in
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  Speaker 8: front of the camera, right a Jordan, a doctor j
• 7:22
  Speaker 8: or whatever the cases. So it was a very easy
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  Speaker 8: transition as well. The only thing they did different than
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  Speaker 8: ninety nine percent of the athletes or everybody else is
• 7:32
  Speaker 8: instead of being running down the court and just thinking
• 7:34
  Speaker 8: about the check they get, and they were talking to
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  Speaker 8: people on the front of the court and saying, wait,
• 7:39
  Speaker 8: don't you own this and that? Don't you know? Hey man,
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  Speaker 8: how can I be of value to you? And they
• 7:44
  Speaker 8: took that asset that they had right there and they
• 7:48
  Speaker 8: doubled down on that. But for me, I never necessarily
• 7:52
  Speaker 8: wanted to be in front of the camera in that sense.
• 7:54
  Speaker 8: I always liked being in front of the camera. But
• 7:55
  Speaker 8: I came up and I came up in house Queens
• 7:57
  Speaker 8: and there was so many music arts from house, so
• 8:00
  Speaker 8: I grew up on its used to cut my hair
• 8:03
  Speaker 8: and uh when you know, like fred Ro used to
• 8:05
  Speaker 8: cut my hair. And you know, I literally dev whose
• 8:09
  Speaker 8: son is uh walk A Floka lived four houses down
• 8:14
  Speaker 8: from me. Uh, the guy everybody knows Bimmy. I remember
• 8:17
  Speaker 8: when I was about seven or six years old. I remember,
• 8:21
  Speaker 8: you know, Uh, I locked him up in my garage
• 8:24
  Speaker 8: because he was about he was a little bit younger
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  Speaker 8: than me and I was an only child, and my
• 8:27
  Speaker 8: mother was like, what's going on in the garage. I
• 8:30
  Speaker 8: put him in the garage for like two minutes or whatever.
• 8:32
  Speaker 8: The kid she was, I was like, I got I
• 8:33
  Speaker 8: got a friend to play with. She's like, boy, is
• 8:35
  Speaker 8: that one for the boy down?
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  Speaker 3: Make it?
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  Speaker 8: Uh? You know I was going on tours at fourteen
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  Speaker 8: fifteen years old, and I was like, I'm gonna be
• 8:44
  Speaker 8: the biggest in fashion. My other buddy was like I'm
• 8:46
  Speaker 8: gonna be the biggest in music, I'm gonna be the
• 8:48
  Speaker 8: and other buddies like three or four of us, I'm
• 8:51
  Speaker 8: gonna be the biggest and videos and one of my
• 8:53
  Speaker 8: dudes like, I'm gonna be the biggest drug dealer. Well
• 8:55
  Speaker 8: that was me. Hype williams IRV Gotti and me uh no,
• 9:00
  Speaker 8: and my boy Outfred, who they made the movie Belly about,
• 9:04
  Speaker 8: who literally just came home after twenty seven years.
• 9:06
  Speaker 3: So we all hit about him. Yeah, character character, so
• 9:10
  Speaker 3: we all.
• 9:10
  Speaker 8: So I grew up in this world, you know, but
• 9:14
  Speaker 8: also seeing ll and all of them and not knowing
• 9:16
  Speaker 8: l really well. But of course when you grow up there, well,
• 9:19
  Speaker 8: you know, Mookie's his bodyguardens you go on these tours,
• 9:21
  Speaker 8: and you go when they enjoy New York or or
• 9:25
  Speaker 8: or Poughkeepsie. You know, you roll up there in the
• 9:27
  Speaker 8: car the train. How you can get up there? Uh?
• 9:30
  Speaker 8: And I started to see them, but I saw their
• 9:32
  Speaker 8: personal life was like if El's at a restaurant, he's
• 9:34
  Speaker 8: arguing with his wife, somebody's coming home coming and shoving
• 9:37
  Speaker 8: up at that time, shoving a piece of paper in
• 9:39
  Speaker 8: his face, and they could be having an argument. And
• 9:43
  Speaker 8: I never wanted that level of fame to the most part,
• 9:47
  Speaker 8: but as my partner and I came out with Fubu,
• 9:51
  Speaker 8: I did want some acknowledgement. I wanted to make sure
• 9:54
  Speaker 8: that we were known and we market ourselves so we
• 9:57
  Speaker 8: didn't have to be at the mercy of manager and
• 10:00
  Speaker 8: everybody else need a brown bag to get their man,
• 10:03
  Speaker 8: you know, shoot a shoot a shoot a campaign. And
• 10:06
  Speaker 8: then I transitioned and said, I do want to be
• 10:09
  Speaker 8: the face of business in a sense. But I was
• 10:13
  Speaker 8: thinking more like when we grew up like a Walter Cronkite,
• 10:16
  Speaker 8: you know, like a newscast. You know, when you see
• 10:20
  Speaker 8: a newscast something that walk down the block, you don't
• 10:23
  Speaker 8: go crazy, all right. And so I went onto the
• 10:25
  Speaker 8: show called Shark Tank, and I didn't think it was
• 10:28
  Speaker 8: gonna be a cultural phenomenal. Actually, I didn't even think
• 10:30
  Speaker 8: Shark was gonna work. And I know you've interviewed my
• 10:33
  Speaker 8: man a couple of times, but really Mark Cuban is
• 10:36
  Speaker 8: the one who pushed it over the edge and got
• 10:38
  Speaker 8: it to actually get picked up after the third season
• 10:40
  Speaker 8: when they were going to close it down, because truth
• 10:43
  Speaker 8: be told, all these other cele minims have been on there.
• 10:46
  Speaker 8: After all the other celebrities were saying, I'm not going
• 10:49
  Speaker 8: to go on a show where I don't know who
• 10:50
  Speaker 8: a damon John and Barbara Corker and all the people.
• 10:53
  Speaker 8: I'm too big to go on that show. I need
• 10:55
  Speaker 8: my own show. And Mark, being a tech guy, looked
• 11:00
  Speaker 8: up the data and saw that it was one of
• 11:01
  Speaker 8: the top shows on Network watch kids five to fifteen
• 11:04
  Speaker 8: and parents and kids together, and he said, I don't
• 11:06
  Speaker 8: care who they are. I'll come on the show if
• 11:08
  Speaker 8: it's going to help America and help our children. And
• 11:11
  Speaker 8: when he came on the show, he was able to
• 11:13
  Speaker 8: go on Jimmy Kimmel and all those shows. Because when
• 11:16
  Speaker 8: we were like, yeah, we want to go on Jimmy
• 11:17
  Speaker 8: Kimmel and they were like, well know you, They're like, well,
• 11:20
  Speaker 8: explain Shark Tank. Who wins? Do they get dumped in
• 11:25
  Speaker 8: the pool of sharks? Is a shark week? We couldn't
• 11:27
  Speaker 8: explain it, But it was Mark Cuban that moved it
• 11:30
  Speaker 8: over the level. So anyway, long, long story short, I
• 11:33
  Speaker 8: didn't expect to be here in that sense, being you know,
• 11:37
  Speaker 8: on a very popular culture show. And it has just
• 11:40
  Speaker 8: been a blessing though, because you know, you know, I
• 11:44
  Speaker 8: get to I get to invest in other people's dreams
• 11:46
  Speaker 8: and people walk up to me and all they want
• 11:47
  Speaker 8: to do is share with me their ideas because they
• 11:49
  Speaker 8: just want to feed their family.
• 11:50
  Speaker 5: So the TV was the thing that really pushed you
• 11:53
  Speaker 5: over the edge to become the celebrity figure.
• 11:56
  Speaker 8: You know, I think that until you're famous. You don't know,
• 11:59
  Speaker 8: you ain't paying you know. I was a football guy
• 12:02
  Speaker 8: and I was respecting in various different ways, and it
• 12:05
  Speaker 8: was God blessed me with that. But you know, at
• 12:08
  Speaker 8: this level, when I can call a president, you know,
• 12:11
  Speaker 8: everybody take my call once at least unless I play myself.
• 12:16
  Speaker 8: Yeah I had, I know, I was still on. I
• 12:19
  Speaker 8: can still get on some level of TV at any
• 12:21
  Speaker 8: given time, you know. But I would be getting on
• 12:24
  Speaker 8: the TV and I'd be talking. I would talk more
• 12:27
  Speaker 8: about my perspective on inner city or fashion. Now I
• 12:32
  Speaker 8: can get on and talking about you know, deficits and
• 12:36
  Speaker 8: or where you know, what commodity you should invest in
• 12:39
  Speaker 8: or whatever. Because when you know the fundamentals of businesses,
• 12:43
  Speaker 8: you know, I'm sure as part of your you know,
• 12:45
  Speaker 8: your DNA is your assets feed you and your liabilities
• 12:48
  Speaker 8: equ And when I can talk about that and in
• 12:50
  Speaker 8: some level of being articulate and didn't go to college
• 12:53
  Speaker 8: and I'm not on some PhD, you know level like that,
• 12:56
  Speaker 8: a lot of people relate to that.
• 12:58
  Speaker 4: So the marketing campaign ful Fuoble was one thing, right,
• 13:01
  Speaker 4: because that's a brand. I remember the first time I
• 13:03
  Speaker 4: ever saw it was I was watching video music box.
• 13:05
  Speaker 8: Right.
• 13:06
  Speaker 4: You were talking about me Dani Ralphi Dah for sure, right,
• 13:08
  Speaker 4: And so that was part of the marketing plan to
• 13:11
  Speaker 4: build that. But you also have to build your own
• 13:14
  Speaker 4: personal brandy, which is completely different or maybe there are
• 13:17
  Speaker 4: some similarities there.
• 13:19
  Speaker 6: What was that like for you?
• 13:20
  Speaker 4: Knowing that you have a band, but you're also now
• 13:22
  Speaker 4: having to build a personal brand.
• 13:24
  Speaker 8: You know, I think everybody faces being held in a box, right,
• 13:27
  Speaker 8: And as you build your personal brand, you have to
• 13:31
  Speaker 8: break down the barriers, and even the people that know
• 13:34
  Speaker 8: you and love you and respect you will often say
• 13:36
  Speaker 8: I don't think that's you know, you can't do it,
• 13:39
  Speaker 8: and not because they hate on you, just because they
• 13:41
  Speaker 8: haven't seen the vision yet and you have to be
• 13:43
  Speaker 8: kind of obsessed with it. So to build a personal brand,
• 13:48
  Speaker 8: I had to build that brand that was out of
• 13:50
  Speaker 8: fashion because people are just gonna say, man, you grew
• 13:54
  Speaker 8: fashion company. Want to hear more about fashion? Right? And
• 13:58
  Speaker 8: if I say I want some angel investing in it,
• 14:01
  Speaker 8: but you don't have anything else, how do you know? Right?
• 14:04
  Speaker 8: Because before I became an angel investor, I failed several times.
• 14:08
  Speaker 8: So Fuoboo was sawing to slow down, right, and we
• 14:11
  Speaker 8: started building up in Europe and then I got I
• 14:15
  Speaker 8: bought Ted Baker, brought it to the United States. I
• 14:18
  Speaker 8: licensed it. I failed at it because they wanted to
• 14:21
  Speaker 8: do retail stores. I failed at that. I bought Kappa
• 14:25
  Speaker 8: the soccer company. They were like, man, soccer is going
• 14:28
  Speaker 8: to take off in the United States. Yeah, it's taking off now,
• 14:31
  Speaker 8: will we twenty twenty three? Kapa the Kappa Yeah, the
• 14:34
  Speaker 8: back to back people.
• 14:36
  Speaker 3: Yeah, you own Ted Baker.
• 14:37
  Speaker 8: No, no, no. I licensed it and I gave it
• 14:39
  Speaker 8: back because I failed at it. I was never a
• 14:41
  Speaker 8: retail store operator. Kappa I got in nineteen ninety nine.
• 14:46
  Speaker 8: Failed at it, right because nobody wanted to hold Kappa.
• 14:52
  Speaker 8: They wanted their Ireland or their you know, they wanted
• 14:55
  Speaker 8: one team. Right. Then I got a company called Heather Rett.
• 14:58
  Speaker 8: I failed at another company all married to the mob.
• 15:01
  Speaker 8: Failed at it, and then I brought Kuji out of bankruptcy,
• 15:05
  Speaker 8: also Etonic. I bought Etonic, and so I started to
• 15:09
  Speaker 8: push Kouji out in a big way. But the way
• 15:13
  Speaker 8: that I really got it out, I got it on
• 15:14
  Speaker 8: you know, Ross and all these guys and girls. But
• 15:17
  Speaker 8: I also there was these three young girls out of California,
• 15:21
  Speaker 8: who's coming out with a clothing store and I was
• 15:23
  Speaker 8: in charge of being their product integration person, and nobody.
• 15:27
  Speaker 8: I walked these girls around the entire city and I
• 15:31
  Speaker 8: said to all my people, like the people who will
• 15:32
  Speaker 8: have big brands, Hey, these girls are going to be big.
• 15:34
  Speaker 8: Nobody believe me. Seventy five thousand dollars. You can put
• 15:37
  Speaker 8: all your clothes in their show. The whole year they
• 15:39
  Speaker 8: were like, I don't know what a Kardashian is. They're
• 15:42
  Speaker 8: never going to be anybody. Damon, you're wasting your money,
• 15:45
  Speaker 8: You're wasting your time. So I just for Kujie in
• 15:48
  Speaker 8: the first three seasons of their show, and it was
• 15:52
  Speaker 8: out of here, you know. So you know a lot
• 15:55
  Speaker 8: of different things. But then people knew me then as
• 15:58
  Speaker 8: a as somebody who was an angel investor, because I
• 16:01
  Speaker 8: started acquiring different companies and not stressing that I only
• 16:06
  Speaker 8: needed to build just Fuubul, because I knew that a
• 16:09
  Speaker 8: fashion comes and goals.
• 16:11
  Speaker 6: These things happened simultaneously.
• 16:13
  Speaker 4: Foobuos, you still have Fubum, Yeah, acquiring other brands to yeah.
• 16:16
  Speaker 8: I saw that foolish. So what was what I was
• 16:18
  Speaker 8: doing is I'm a very I'm a just basic common
• 16:20
  Speaker 8: sense analytical person. I knew that if you really look
• 16:24
  Speaker 8: at all the brands in the market, there's there's very few,
• 16:27
  Speaker 8: maybe Nike, Louis Vuitton or the Unicorns. But when I
• 16:30
  Speaker 8: got into the market at first in the in the
• 16:32
  Speaker 8: early nineties, Levi was doing eighteen billion, they went down
• 16:36
  Speaker 8: to three. They're back up to like nine, right, And
• 16:39
  Speaker 8: I knew that was United Colorbedentines. I'm not sure looks
• 16:42
  Speaker 8: for t for various other brands. I didn't take it personal,
• 16:46
  Speaker 8: but I realized that if a kid has four years
• 16:49
  Speaker 8: of football in their closet and they're in high school,
• 16:51
  Speaker 8: when they go to college, they may want to look
• 16:52
  Speaker 8: a little different, right, they want to change up their style.
• 16:56
  Speaker 8: And I didn't take it personal. While a lot of
• 16:58
  Speaker 8: people hold on to certain things, they don't look at
• 17:00
  Speaker 8: the writing on the wall, whether they're an athlete, and
• 17:03
  Speaker 8: they look at sixty five percent athletes a bankrupt three
• 17:05
  Speaker 8: years after leaving the league, Right, it's not that you know.
• 17:09
  Speaker 8: You got to look at the analytics, and when you
• 17:10
  Speaker 8: look at the analytics, then you know how you can
• 17:12
  Speaker 8: solve a problem or adjust yourself to a problem.
• 17:16
  Speaker 5: So you knew that the life cycle of food was
• 17:19
  Speaker 5: only going to be a short period of time.
• 17:21
  Speaker 8: I knew it would have come back, But I knew
• 17:23
  Speaker 8: that what am I going to do by the time
• 17:25
  Speaker 8: it comes back? They said, fashion repeats itself every twenty
• 17:28
  Speaker 8: years like clockwork. Twenty years later, it's repeating itself. Right,
• 17:32
  Speaker 8: You're seeing the drakes and the scissors and all.
• 17:34
  Speaker 3: I'm wearing it right, right.
• 17:36
  Speaker 8: But I knew that, so I had to say to myself, well,
• 17:39
  Speaker 8: what am I going to do? Well, I knew that
• 17:41
  Speaker 8: it's going to last four years. I'm on a ninth
• 17:44
  Speaker 8: year of a four year run, right, three years ramping
• 17:47
  Speaker 8: da da da dah. I said, all right, well, let
• 17:48
  Speaker 8: me keep placing it in Europe and all these other countries.
• 17:52
  Speaker 8: Let me start making other looks, because let me make
• 17:54
  Speaker 8: suits and bedding. Because if you see the big logo
• 17:57
  Speaker 8: out there for a long period of time, I can
• 18:00
  Speaker 8: make twenty thousand shirts with a huge logo, it's gonna
• 18:04
  Speaker 8: it's gonna look like a million shirts. Or I can
• 18:06
  Speaker 8: make a million shirts or a million suits with no logo,
• 18:10
  Speaker 8: and I'll still be as effective, retain more and not down,
• 18:15
  Speaker 8: you know, not push down the value of the company. Right,
• 18:18
  Speaker 8: So you know, you just got to everything is really
• 18:21
  Speaker 8: simple to understand. It's just how do you operate and
• 18:24
  Speaker 8: turn around, you know, and and pivot.
• 18:26
  Speaker 4: What are the challenges with the title of urban clothing
• 18:31
  Speaker 4: because we when we think about that and we think
• 18:33
  Speaker 4: about the brands that have come and stay and have sustainability,
• 18:37
  Speaker 4: they never have that title. But when we look at
• 18:38
  Speaker 4: those categories, we kind of see them come and go.
• 18:42
  Speaker 8: Well, and they all come and go, but it is
• 18:44
  Speaker 8: all it is all why do you put that title
• 18:47
  Speaker 8: on it? Right? Because it's an urban because black people
• 18:50
  Speaker 8: wear the black people design it. Black people wear Levi's
• 18:55
  Speaker 8: and Adidas. Black people design Levi's and Adidas too, right,
• 18:59
  Speaker 8: So you know, people do put you in boxes, you know,
• 19:04
  Speaker 8: you know, I always looked at food was you know,
• 19:05
  Speaker 8: you have Levis, who's the American cowboy? You have uh
• 19:08
  Speaker 8: you know, uh Foo, who's an American street kid. But it's
• 19:13
  Speaker 8: hard to chase after those things that are defining who
• 19:17
  Speaker 8: you are, right because food was known is baggy clothes.
• 19:22
  Speaker 8: Now in Europe we never made baggy clothes. It was
• 19:24
  Speaker 8: here that we love it and the reason why we
• 19:29
  Speaker 8: may And then then people say, well, you know you're
• 19:33
  Speaker 8: the ones who made baggy clothes. The kids had their
• 19:36
  Speaker 8: pants hanging off their ass. No bagging. Clothes actually fits
• 19:39
  Speaker 8: supposed to be worn the right side, so you have
• 19:41
  Speaker 8: a lot of movement in it. Kids wearing clothes hanging
• 19:44
  Speaker 8: off their ass. Sometimes it will be the skinniest jeans
• 19:46
  Speaker 8: I've ever seen in my life. They need to be
• 19:50
  Speaker 8: holding together, man, when they walk in and even they
• 19:52
  Speaker 8: be over down here and they see in the underwear.
• 19:54
  Speaker 8: So so you know, there's gonna be a lot of
• 19:57
  Speaker 8: perceptions of your brand. And that's a good thing. It's
• 20:00
  Speaker 8: a bad thing when you get so big you can't,
• 20:03
  Speaker 8: you know, really, you know, contain what the perception is.
• 20:06
  Speaker 8: You have to look at it as this is my
• 20:09
  Speaker 8: core consumer. The football core consume was. The core consume
• 20:13
  Speaker 8: was young males eighteen or thirty five who initially wanted
• 20:17
  Speaker 8: to support African American companies, but they didn't necessarily. The
• 20:20
  Speaker 8: only choice they had it was either can take colored
• 20:23
  Speaker 8: type of clothing and or you know other stuff that
• 20:26
  Speaker 8: we were making, you know, Airbrushers UF. But they wanted
• 20:30
  Speaker 8: they wanted very They wanted a jean suit to be
• 20:32
  Speaker 8: blue and not red, or not yellow and not green,
• 20:36
  Speaker 8: and they were willing to pay a little bit extra
• 20:38
  Speaker 8: for quality.
• 20:40
  Speaker 5: So let's revisit this Kardashian situation. How did your relationship
• 20:44
  Speaker 5: start with them? And what's that story.
• 20:48
  Speaker 8: I had a company called heather Ight I was investing in,
• 20:51
  Speaker 8: and I think it was Paris Hilton and the girls
• 20:55
  Speaker 8: from Danny Kine or come in to walk the fashion
• 20:58
  Speaker 8: show and they had this girl with them who was
• 21:02
  Speaker 8: you know, kind of like she had a microphone and
• 21:04
  Speaker 8: it was Kim and and you know, I was like, oh, okay,
• 21:10
  Speaker 8: what's up and talk to him? And and then Chloe
• 21:13
  Speaker 8: and I started hanging out. She became like one of
• 21:14
  Speaker 8: the boys, like Chloe, and we spent New Years together
• 21:19
  Speaker 8: and then uh, Kim started to blow up. She was
• 21:24
  Speaker 8: with Reggie, I think, and uh, and she started to
• 21:27
  Speaker 8: blow up. And then Chloe at the time was like,
• 21:29
  Speaker 8: you know, the you know, I don't know if I
• 21:31
  Speaker 8: really want to get out there like that. And she
• 21:33
  Speaker 8: was just one of the boys. We were just hanging out,
• 21:36
  Speaker 8: and I remember her. The Kim video came out and
• 21:40
  Speaker 8: the show was already kind of like in pilot for him,
• 21:42
  Speaker 8: and a lot of people think that Kim had did
• 21:45
  Speaker 8: the video or rated whoever right did the video to
• 21:48
  Speaker 8: become famous. They asked, were going to cancel the show
• 21:51
  Speaker 8: due to that? And then Chris, uh, very very smart.
• 21:56
  Speaker 8: Chris had done a lot of this stuff prior to that,
• 21:59
  Speaker 8: and said, listen, you know, I know everybody. She knew
• 22:02
  Speaker 8: the Olson Twins family and everything else, and she said, hey,
• 22:05
  Speaker 8: why don't you help us start to brand the girls
• 22:08
  Speaker 8: and help us with the direction. And we were just
• 22:10
  Speaker 8: like family, and I just we just kept helping them.
• 22:13
  Speaker 8: I had always done it. You know, a lot of
• 22:14
  Speaker 8: people don't know that with Fuobu, I was one of
• 22:17
  Speaker 8: the top product placement people in We will put out
• 22:23
  Speaker 8: stuff in almost if you had reality shows. We put
• 22:26
  Speaker 8: our stuff in almost two hundred and fifty videos annually.
• 22:30
  Speaker 8: So you would have a lot of the music artists
• 22:32
  Speaker 8: and the labels call us to say, hey, we need
• 22:34
  Speaker 8: an extra twenty ten or twenty thousand dollars for to
• 22:36
  Speaker 8: rent this house, the cars, or whatever the case is,
• 22:39
  Speaker 8: and put the brands in there. So I put my
• 22:41
  Speaker 8: brand in there. I'd put Jeep Cherokee in there, Kawasaki
• 22:45
  Speaker 8: in their embarrassed to the things, and I just love
• 22:47
  Speaker 8: the girls. You know, I dealt with a lot of celebrities,
• 22:51
  Speaker 8: and you have a lot of people who are their celebrities.
• 22:56
  Speaker 8: But then you have people who are business people first.
• 22:58
  Speaker 8: In this celebrity second. Business people first are the ones
• 23:02
  Speaker 8: who are people of their word. They end up, they
• 23:05
  Speaker 8: show up on time. They don't have the massive crew
• 23:07
  Speaker 8: looking for the brown bags around them and th old
• 23:10
  Speaker 8: business people are like the Kardashians, Pit Bull, Lenox Lewis.
• 23:14
  Speaker 8: You have certain people that Catherine Zada Jones. You have
• 23:18
  Speaker 8: certain people that you just relate to, right, They're just
• 23:20
  Speaker 8: good people. On the other hand, you have the other
• 23:23
  Speaker 8: people who are you know, we didn't we don't all
• 23:26
  Speaker 8: necessarily roll the same or move the same. You have
• 23:29
  Speaker 8: other people who just come from different backgrounds. And I
• 23:31
  Speaker 8: like Keith handle that. You know, Keith the one who's
• 23:34
  Speaker 8: gonna go to the studio all night with old dirty
• 23:36
  Speaker 8: basket at you know, do that track again when you
• 23:40
  Speaker 8: when you're shooting something all the way or something for
• 23:42
  Speaker 8: me and this my mom, you know what I'm saying.
• 23:45
  Speaker 8: So that's the great thing about us is the fooble guys.
• 23:48
  Speaker 8: I have to say, my partners, we were able to
• 23:50
  Speaker 8: be in four different places at four different times, with
• 23:53
  Speaker 8: four different points of view. And then you got Jay.
• 23:57
  Speaker 8: They're really classy super you know the dress one who
• 24:00
  Speaker 8: was just fly all the time and you got call.
• 24:02
  Speaker 8: He kind of flows in between us all so so
• 24:06
  Speaker 8: so that's how we always were really affected. We could
• 24:08
  Speaker 8: be four different places.
• 24:10
  Speaker 3: So Jay, when we interviewed Jay, he said something heed.
• 24:14
  Speaker 8: To j already two and Jay, Yo, you ain't go
• 24:20
  Speaker 8: through jauntsy on that, did you? No, I'm gonna give
• 24:23
  Speaker 8: you money. You got my numberney me.
• 24:28
  Speaker 5: So he said like he felt that he kind of
• 24:32
  Speaker 5: paraphrasing it, but he kind of blamed the culture for
• 24:34
  Speaker 5: the downfall of football because he said, like it gets
• 24:36
  Speaker 5: to a point where everybody's rooting for you. You reach to
• 24:39
  Speaker 5: a point and then everybody starts to turn it back
• 24:41
  Speaker 5: on you, and then they start to make jokes about
• 24:44
  Speaker 5: the closing and now it becomes a punchline. And it's
• 24:48
  Speaker 5: a weird dynamic that happens with brands in our culture
• 24:52
  Speaker 5: where it's like when you reached up the top, now
• 24:57
  Speaker 5: you're a corny Yeah, how you feel.
• 25:00
  Speaker 8: About we like we like to rip ourselh you know,
• 25:03
  Speaker 8: we like to rip Okay, that's not just the US thing,
• 25:07
  Speaker 8: right because I see on Shark Tank now there's no
• 25:10
  Speaker 8: more the stories are great to talk about where they
• 25:15
  Speaker 8: can try to dig and get something that they can't
• 25:17
  Speaker 8: because the show is so real. But you know, people
• 25:22
  Speaker 8: like to build you up if you down, and then
• 25:23
  Speaker 8: build you back up. But yeah, I mean that's truth.
• 25:25
  Speaker 8: You know a lot of casts will be like, yo, man,
• 25:28
  Speaker 8: what do I get? Fool? Well, man, you don't work?
• 25:30
  Speaker 8: I buy it, saying god, damn place you buy everything else?
• 25:33
  Speaker 8: You looked it up online? No, no, why you're asking me? Man?
• 25:38
  Speaker 8: You know it's just straight up you know that that
• 25:45
  Speaker 8: is what happened. But they do make a lot of
• 25:46
  Speaker 8: people have made fun of it. But listen, it just
• 25:51
  Speaker 8: is what it is. Uh Uh. I'm I'm losto words
• 25:57
  Speaker 8: of the sense because I don't think that I don't
• 25:59
  Speaker 8: I don't want to say that the wrong way, but
• 26:01
  Speaker 8: I do think that we should honor the brands that
• 26:04
  Speaker 8: have come out because you won't hear them laugh about
• 26:06
  Speaker 8: Supreme or Nike or Yeah, Ralphferene. You won't hear them
• 26:12
  Speaker 8: laugh about that stuff.
• 26:13
  Speaker 3: Or even Nordika. Even when Nordica fell off. Still it
• 26:17
  Speaker 3: never it was corny. Yeah, like yo, like a lot
• 26:20
  Speaker 3: of people just stopped wearing it.
• 26:21
  Speaker 8: Yeah, you know, I you know, there's systemic things of
• 26:24
  Speaker 8: the way above my pay grade to discuss, to really
• 26:28
  Speaker 8: articulate those things in the right way. But I think
• 26:30
  Speaker 8: sometimes it's the I'm no longer there, yo, I'm better
• 26:35
  Speaker 8: than that. And I gotta tell you, you know, we
• 26:37
  Speaker 8: never sold fuoble because we never sold it because and
• 26:41
  Speaker 8: everybody said we did. We never did. We never sold
• 26:44
  Speaker 8: it because so many people said, please don't right, and
• 26:48
  Speaker 8: we never sold it. But only ten percent of people
• 26:51
  Speaker 8: are African Americans who were foogle. And somebody said, how
• 26:54
  Speaker 8: dare you say that? Well, I know because we're big
• 26:56
  Speaker 8: in Malaysia, how many black people around lad, We're big
• 27:00
  Speaker 8: in Malaysia, big in Germany, We're big in we are
• 27:03
  Speaker 8: big in South Africa, but Korea, Philippines. But you know,
• 27:11
  Speaker 8: I noticed the ones who wear it the most, let's
• 27:14
  Speaker 8: say America, the ten percent to wear the most. It's
• 27:16
  Speaker 8: either music artists African I'm talking about black people, right,
• 27:21
  Speaker 8: Music artists, very wealthy African Americans and very aware and
• 27:28
  Speaker 8: culturally aware African Americans, and they don't wear it is
• 27:32
  Speaker 8: just hooble. I think that as you see a lot
• 27:35
  Speaker 8: of the big music arts where they say they're making
• 27:37
  Speaker 8: a statement of Hey, I can wear anything. I'm aware
• 27:42
  Speaker 8: this once in a while too, right, The culturally aware
• 27:46
  Speaker 8: African Americans do the same thing. They go listen, no
• 27:51
  Speaker 8: matter what, they'll they'll wear dashiki that they wear Louis Baton.
• 27:55
  Speaker 8: And then the really wealthy were because they go, I
• 27:58
  Speaker 8: can buy anything, and I'm gonna buy time for it
• 28:01
  Speaker 8: today and I'm gonna wait, I'm gonna buy this tomorrow. Uh.
• 28:04
  Speaker 8: It's the ones who are aspiring to someplace else who
• 28:08
  Speaker 8: don't often support it as much as you know they could.
• 28:11
  Speaker 8: And you know what, maybe they don't like it. It's fine too,
• 28:14
  Speaker 8: you're not. I don't ever want somebody to buy it
• 28:17
  Speaker 8: because they're supposed to buy it. You're not supposed to
• 28:20
  Speaker 8: buy nothing. We're supposed to provide you value, you know.
• 28:24
  Speaker 8: So if you don't buy it because you don't like it,
• 28:26
  Speaker 8: I get that too, you know.
• 28:29
  Speaker 4: But what you're speaking of, I hear global expansion, and
• 28:31
  Speaker 4: you kind of went over the roles of having partners,
• 28:34
  Speaker 4: and these guys fly guide out of guys. Guys don't
• 28:36
  Speaker 4: run to the studio. But you take me as a
• 28:38
  Speaker 4: guy who was the business the business mind, and so
• 28:41
  Speaker 4: as you're seeing money coming in yeah, it's the first
• 28:44
  Speaker 4: time for everybody, Like that's one of the things in
• 28:46
  Speaker 4: our community with first time everything. Right, So we're first
• 28:49
  Speaker 4: time millionaires and so what was that like dealing with
• 28:53
  Speaker 4: now that we have part with partners, but everybody has
• 28:55
  Speaker 4: made money. How we're going to sustain money? What are
• 28:57
  Speaker 4: we doing with the money? Are we investing in are
• 28:59
  Speaker 4: we reinvested in business? And then when we start to
• 29:01
  Speaker 4: see sales decline, now having conversations with saying, all right,
• 29:04
  Speaker 4: we might need to scale back a little bit or
• 29:06
  Speaker 4: we have to change our plan.
• 29:08
  Speaker 8: Man, that's why I seem so successful. Your boy, your boss.
• 29:14
  Speaker 8: And when I ride quest to ride, I ain't never
• 29:16
  Speaker 8: been asked you any more to be on the spot.
• 29:18
  Speaker 8: All right, Well money coming in? Man, listen, you don't
• 29:22
  Speaker 8: you don't. You don't give a guy like me. I was.
• 29:25
  Speaker 8: I was dead broke, twenty eight years old. The story goes, oh,
• 29:28
  Speaker 8: move turned my mother's house into a factory. Well, let
• 29:31
  Speaker 8: me tell you how to turn it into a factory.
• 29:34
  Speaker 8: Three months later. I was three months later on the
• 29:36
  Speaker 8: mortgage and almost lost my mother's house. I didn't know
• 29:38
  Speaker 8: what I was doing. It wasn't because that I didn't
• 29:40
  Speaker 8: I didn't. It wasn't because I bought lavish things. But
• 29:43
  Speaker 8: I was paying for royal goods ninety days ahead of time,
• 29:46
  Speaker 8: paying for a staff, paying for you know, shipping, and
• 29:49
  Speaker 8: my store didn't pay me for ninety days. I was
• 29:51
  Speaker 8: being choked by the float. So I had a lack
• 29:53
  Speaker 8: of financial intelligence. So I almost went bankrupt twice before
• 29:56
  Speaker 8: I made money. Now I got twenty million liquid in
• 29:59
  Speaker 8: the bank. Come on, man, different feeling. Don't give me
• 30:05
  Speaker 8: twenty million more bottles. Bottles, got a fide customer every
• 30:13
  Speaker 8: night at the club, and I can't. I can't fly commercial.
• 30:20
  Speaker 8: That's the sea word.
• 30:23
  Speaker 3: Civilized.
• 30:24
  Speaker 8: Oh, everybody had a five thousand dollar problem too. For
• 30:28
  Speaker 8: some reason, after I stopped giving everybody those everybody, I
• 30:31
  Speaker 8: had two fifty a year average out every time I
• 30:35
  Speaker 8: whenever I stopped giving those people those five thousand dollars,
• 30:37
  Speaker 8: they were still miraculously alive the next year. Oh now, Hi,
• 30:42
  Speaker 8: you got to open up a couple of companies. Right then,
• 30:46
  Speaker 8: you invest in the market. High planes crash into a building,
• 30:49
  Speaker 8: you pull it out low because you're like, it's never
• 30:51
  Speaker 8: going to come back, and what are you talking about?
• 30:53
  Speaker 8: Come back in eighteen months?
• 30:54
  Speaker 7: Oh?
• 30:55
  Speaker 8: Bankers are calling you all the time. Yo, let me
• 30:56
  Speaker 8: help you with your money, and you know your egos
• 30:58
  Speaker 8: in the way, help me my money. How much you
• 31:02
  Speaker 8: making to your homeboy? You making two hundred thousand, I
• 31:05
  Speaker 8: got twenty million dollars. Maybe I should help you with
• 31:07
  Speaker 8: your money, my man. But you don't realize that person
• 31:11
  Speaker 8: went to school for financial intelligence and that person is
• 31:15
  Speaker 8: working for a JP Morgan Chase and has access to
• 31:20
  Speaker 8: what commodities are moving or bonds and various other things.
• 31:25
  Speaker 8: So almost on bankrupt and now the business now. And
• 31:30
  Speaker 8: this is exactly what potentially happens with athletes. There's nothing
• 31:33
  Speaker 8: wrong be an athlete. I mean it's harder to be
• 31:35
  Speaker 8: an athlete. I think can make it in what is
• 31:37
  Speaker 8: there fifteen hundred professional athletes in the country. I think
• 31:40
  Speaker 8: it's harder to be an athlete than it is to
• 31:42
  Speaker 8: be a millionaire. So I'm going to tell you these people,
• 31:45
  Speaker 8: these athletes are extremely talented and they're at the top
• 31:48
  Speaker 8: top of the game, but they didn't learn financial intelligence
• 31:51
  Speaker 8: list like I didn't. However, they get abide at the
• 31:54
  Speaker 8: Apple at twenty four my body, the apple kept going right.
• 31:58
  Speaker 8: But when I saw that when you go I was
• 32:00
  Speaker 8: like I now there's a problem, just basically yeah. And
• 32:12
  Speaker 8: I was like, yo, there's a problem. Who do I
• 32:18
  Speaker 8: need to talk cancel? You know what? I need to
• 32:20
  Speaker 8: talk to somebody who don't need me. Let me call
• 32:24
  Speaker 8: a bunch of cats who I know. And and they're like, yeah,
• 32:29
  Speaker 8: I saw you pulling out that cash every day. Huh,
• 32:31
  Speaker 8: I saw you. I didn't want to say nothing. Why
• 32:34
  Speaker 8: did you say nothing? They're not my business man. You
• 32:36
  Speaker 8: can do what you want your money. But that person
• 32:38
  Speaker 8: was worth a billion dollars. Hey, what should I do?
• 32:42
  Speaker 8: So I sat home, I watched Jim Crame a mad
• 32:44
  Speaker 8: money for three years straight, came on every single day,
• 32:47
  Speaker 8: came on twice. It still comes on twice a day.
• 32:50
  Speaker 8: And he's just like you, I'm not only here to
• 32:53
  Speaker 8: educate you, but to entertain you. And I started to
• 32:55
  Speaker 8: understand why stocks move, and what is capital gains and
• 32:59
  Speaker 8: com pounding interests and how to go on margin and
• 33:03
  Speaker 8: what not to do with margin and barras of the
• 33:05
  Speaker 8: things right, and how the wealthy stay wealthy. And they
• 33:11
  Speaker 8: pay a certain amount of taxes, but they also there's
• 33:14
  Speaker 8: a lot of incentives to give charitable organizations and it
• 33:18
  Speaker 8: makes you better, right because somebody who sit there and
• 33:21
  Speaker 8: say the rich don't pay taxes. Well, the rich pay taxes,
• 33:25
  Speaker 8: but they pay it accordingly. Right, But you would say, well, listen,
• 33:28
  Speaker 8: you got ten million dollars in the bank you're in
• 33:30
  Speaker 8: in your stocks, right, ten million dollars you have that
• 33:33
  Speaker 8: investing in your stock. Your stock go from ten to twenty, right, Well,
• 33:37
  Speaker 8: now the ten is your hard cash in that same
• 33:43
  Speaker 8: whatever financial institution will let you go on margin, they
• 33:46
  Speaker 8: will let you pull out fifty percent. Right, the ten
• 33:49
  Speaker 8: million dollars that is that is profitable. Right, that's called margin.
• 33:54
  Speaker 8: You could take that margin and go buy more Apple,
• 33:56
  Speaker 8: and go, buy more testing, and go. And that's the
• 33:57
  Speaker 8: same thing with real estate. When you pull that mark out,
• 34:00
  Speaker 8: you're now paying interest a six seventy percent. You're not
• 34:05
  Speaker 8: paying taxes at forty percent. You can do that. If
• 34:09
  Speaker 8: you have a thousand dollars in a back, you go
• 34:11
  Speaker 8: to two thousand, and now you have a thousand on margin. However,
• 34:14
  Speaker 8: margin is very dangerous because a lot of people take
• 34:17
  Speaker 8: margin and buy the wrong things with it, or margin
• 34:19
  Speaker 8: is trading places. Margin. Call gentlemen, when that mark goes down,
• 34:24
  Speaker 8: Wait a minute, money, what do you what.
• 34:26
  Speaker 3: Are you do?
• 34:26
  Speaker 8: Your brother's dying. Fuck him like that, You know, like
• 34:29
  Speaker 8: margin could be dangerous. That's called over leveraging, and that's
• 34:33
  Speaker 8: what put us in a really big bine in eight right.
• 34:37
  Speaker 8: But again, to understand this information, it's right there. You know,
• 34:43
  Speaker 8: when I was growing up, it wasn't there. You had
• 34:45
  Speaker 8: to call a stock broke, the guy had to or
• 34:48
  Speaker 8: the girl had to qualify you. You couldn't go on
• 34:51
  Speaker 8: and open a TDM error trade account. You couldn't follow
• 34:54
  Speaker 8: one hundred uh you know instagrams that are talking about
• 34:59
  Speaker 8: financing and bitcoin and whatever the cases. You didn't have
• 35:02
  Speaker 8: to earn your leisure where you can hear cats talking
• 35:05
  Speaker 8: about it. I didn't have access to information. Access is
• 35:09
  Speaker 8: the most critical thing you need, right. So when I
• 35:13
  Speaker 8: started to have that access to information, I said, well,
• 35:15
  Speaker 8: let me look at Jim Kramer, who let me ask
• 35:17
  Speaker 8: these people over how money. I started to understand what
• 35:20
  Speaker 8: it really is to have wealth. And when you get
• 35:23
  Speaker 8: in those rooms, when you're in the room of rich people,
• 35:25
  Speaker 8: they talk about how much they spent. You get in
• 35:27
  Speaker 8: the room with wealthy people, they talk about how much
• 35:29
  Speaker 8: they gave away. Totally different game.
• 35:32
  Speaker 5: So let's talk about this international player saying you're big
• 35:36
  Speaker 5: all over a football curl and a lot of people
• 35:37
  Speaker 5: probably don't know that.
• 35:39
  Speaker 3: How did that work?
• 35:40
  Speaker 5: Like as far as like when did did you go
• 35:41
  Speaker 5: to like each market individually? Did you see the landscape
• 35:44
  Speaker 5: and say, okay, this Indonesia makes sense and China doesn't
• 35:49
  Speaker 5: make sense? Like and how were you able to sustain
• 35:52
  Speaker 5: that over the course of twenty years?
• 35:55
  Speaker 8: So, man, I feel like this is inspiring, Chunky, you
• 36:02
  Speaker 8: got my.
• 36:04
  Speaker 3: I gotta get it out.
• 36:10
  Speaker 8: I was sitting in my off one day and my
• 36:12
  Speaker 8: partner I distributed, and Norm came on me and said, hey, man,
• 36:15
  Speaker 8: this guy wants a license your your brand, fool boy,
• 36:17
  Speaker 8: So license? What the hell is the license?
• 36:20
  Speaker 6: He said?
• 36:21
  Speaker 8: Yeah, this is Joanah Cash. He's worth about six or
• 36:24
  Speaker 8: seven billion dollars almos a serious towers A couple of
• 36:27
  Speaker 8: brands you may have heard of, a guess Jordan ash
• 36:30
  Speaker 8: he wants to do food with ladies. So well, what
• 36:32
  Speaker 8: do you mean? He said with daman, you don't want
• 36:33
  Speaker 8: to do lady. We don't want to do ladies. Why, well,
• 36:35
  Speaker 8: we don't make ladies clothes said but I mean clothes, Yeah, man,
• 36:40
  Speaker 8: a gene in men's right aside thirty four. There's four
• 36:43
  Speaker 8: sizes right, thirty four long, thirty four short, thirty four bag,
• 36:46
  Speaker 8: and thirty four slim a dinner pan. In women's for
• 36:49
  Speaker 8: a size twelve, there's twenty one sizes. Right. The thighs
• 36:53
  Speaker 8: is big, the gap in the back stretched thighs. He said, Yo, man,
• 36:59
  Speaker 8: you don't want to do it. You want a license,
• 37:01
  Speaker 8: And what the hell is it like? It's like a lease.
• 37:03
  Speaker 8: You'll you know, they'll, they'll they'll take this. You authorize,
• 37:06
  Speaker 8: you put the models in, you authorize everything, and they'll
• 37:09
  Speaker 8: give you ten percent. If you will make your mouth,
• 37:12
  Speaker 8: you're gonna get fifteen percent of gross, meaning if they
• 37:16
  Speaker 8: do one million dollars, they probably will clear. In a
• 37:20
  Speaker 8: good day, you'll clear twenty five, maybe thirty percent, three
• 37:23
  Speaker 8: hundred thousand. They'll give you one hundred thousand dollars. I said,
• 37:27
  Speaker 8: and what else I have to do? No? Nothing? You mean,
• 37:30
  Speaker 8: no staff, no inventory, no financial capital at rism. No,
• 37:34
  Speaker 8: they're like any And then so Jordash license the brand,
• 37:39
  Speaker 8: they go do one hundred million dollars, they come back
• 37:42
  Speaker 8: with ten million dollars and I'm like, I didn't have
• 37:45
  Speaker 8: to do anything for this. No, you didn't. You just
• 37:48
  Speaker 8: have to keep the core customer happy. Then we go
• 37:52
  Speaker 8: on license boots, bags, ladies, fragrant d da dada. I
• 37:54
  Speaker 8: was like, holy, this is like stealing. This is like
• 37:57
  Speaker 8: taking a cookie from a child, like a two year old.
• 37:59
  Speaker 8: Give me a right. So all of a sudden, they
• 38:02
  Speaker 8: you want to license a territory. What do you mean
• 38:04
  Speaker 8: license a territory? You want to try to go and
• 38:06
  Speaker 8: build in Japan? No, why would I do that? Oh well,
• 38:10
  Speaker 8: a trading company called Mitsubishi wants to license your brand
• 38:14
  Speaker 8: in Japan. Okay, ten million dollars coming any other countries
• 38:18
  Speaker 8: out there, and then we start rolling them out because
• 38:21
  Speaker 8: we learn the value of license. Don't need me wrong, earners,
• 38:25
  Speaker 8: what's up?
• 38:25
  Speaker 4: You ever walk into a small business and everything just
• 38:28
  Speaker 4: works like the checkout is fast, the receipts are digital,
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  Speaker 4: the line even builds odds are they're using Square? We
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  Speaker 4: This episode is brought to you by P and C Bank.
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• 40:15
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 40:19
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 40:23
  Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with
• 40:27
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 40:31
  Speaker 1: some of the heinous migrant criminals caught because of President
• 40:35
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 40:38
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 40:43
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 40:47
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 40:50
  Speaker 1: are here illegally, your next you will be fined nearly
• 40:54
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 40:58
  Speaker 1: never return. But if you registered using our CBP home
• 41:02
  Speaker 1: app and leave now, you could be allowed to return legally.
• 41:05
  Speaker 1: Do what's right.
• 41:07
  Speaker 8: Leave now.
• 41:08
  Speaker 1: Under President Trump, America's laws, border and families.
• 41:12
  Speaker 8: Will be protected.
• 41:13
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 41:15
  Speaker 8: Own licensees can be wrong too, because if somebody takes
• 41:19
  Speaker 8: in a license and they don't value or respect your brand.
• 41:21
  Speaker 8: And all of a sudden, your brand is in this
• 41:24
  Speaker 8: department store looking really good, and the lady's brand is
• 41:28
  Speaker 8: out there on the corner of the street meet and
• 41:29
  Speaker 8: soft serve, and they're just trying to move it really quickly.
• 41:32
  Speaker 8: You're like, what happened? And it can it can kill
• 41:35
  Speaker 8: your brand. So that's really what happened. We moved into
• 41:38
  Speaker 8: a lot of countries. Some work, some didn't. But when
• 41:42
  Speaker 8: when we were in Japan, they want to wear more
• 41:45
  Speaker 8: like characters like, so we had to say, we'll give
• 41:49
  Speaker 8: you fifty percent of the identification of the brand what
• 41:51
  Speaker 8: it is here because they love hip hop and you
• 41:54
  Speaker 8: can make your own. Fifty percent of the type of
• 41:57
  Speaker 8: stye you like, will approve it, will approve all that
• 42:00
  Speaker 8: advertising and all the marketing, right, And that's how we
• 42:03
  Speaker 8: move the countries. Some countries work, some didn't.
• 42:07
  Speaker 5: So somebody else just essentially, I give you ten percent
• 42:11
  Speaker 5: and now everything is on me. I just get to
• 42:13
  Speaker 5: put fooble on it.
• 42:14
  Speaker 3: But I gotta manufacture it, gotta I gotta do all
• 42:16
  Speaker 3: that stuff.
• 42:17
  Speaker 8: You gotta go to trade shows. You got to say
• 42:19
  Speaker 8: your staff, every single thing is your job. And then
• 42:23
  Speaker 8: when in a traditional license, what happened is is you
• 42:26
  Speaker 8: you say, listen, I'll give you the first eighteen months
• 42:28
  Speaker 8: equals a year, right, you got to develop the rand
• 42:30
  Speaker 8: of six months, get it out there. That's one year.
• 42:33
  Speaker 8: You got a three to five year license, right, so
• 42:36
  Speaker 8: five years you run the license. If you hit all
• 42:38
  Speaker 8: the things you're supposed to do, and there's a minimum guarantee. Hey,
• 42:42
  Speaker 8: we believe we're going to do one million the first year,
• 42:44
  Speaker 8: five million, the second year, ten whatever case is on
• 42:47
  Speaker 8: and on. You're supposed to get a minimum of whatever
• 42:50
  Speaker 8: your license is ten percent, so million dollars a year.
• 42:53
  Speaker 8: You know, no matter what happens, they got to give
• 42:55
  Speaker 8: you one hundred thousand dollars. Now it's all like a partnership.
• 43:00
  Speaker 8: What if you had a rough time, what if somebody said,
• 43:01
  Speaker 8: what if I said something crazy about foolble window was hurt?
• 43:04
  Speaker 8: They can need to try to buy say I don't
• 43:06
  Speaker 8: want the license no more. I can say, guys, I
• 43:08
  Speaker 8: get it. Only give me fifty. But if they're doing
• 43:10
  Speaker 8: really good, you can get five hundred thousands on that license.
• 43:12
  Speaker 8: A million. Everybody wants to win, right, and that's how
• 43:15
  Speaker 8: you do a license and if you hit all the
• 43:17
  Speaker 8: criterias and let's say five years, you get an automatic
• 43:21
  Speaker 8: renewal every single year. Damon, I gave you one hundred,
• 43:25
  Speaker 8: then I gave you this, I gave you that, I
• 43:26
  Speaker 8: built this brand for you. I need an automatic renewal
• 43:30
  Speaker 8: because I hit all the marks. Right, So these are
• 43:33
  Speaker 8: the way licensing go. It's basically a lease, right, It's
• 43:36
  Speaker 8: like leasing a car or leasing an apartment. And but again,
• 43:40
  Speaker 8: if you're in Walmart, well your license maybe three percent
• 43:43
  Speaker 8: because Walmart's gonna do ten million a year automatically, but
• 43:47
  Speaker 8: the margin is much smaller on the profit. So that's
• 43:51
  Speaker 8: the way license is.
• 43:52
  Speaker 4: Well, do you think because the margins are so much
• 43:55
  Speaker 4: smaller and maybe you get the ten million, that maybe
• 43:58
  Speaker 4: people that are in the fact, well, especially from our culture,
• 44:02
  Speaker 4: decided to go with the sell route rather than what
• 44:05
  Speaker 4: route selling the company because we've seen people sell their
• 44:07
  Speaker 4: clothing brands rather than going the.
• 44:10
  Speaker 6: Route of leasing. They might not even know that was
• 44:13
  Speaker 6: the other part, or are they weren't educating in.
• 44:16
  Speaker 8: You know, you know businesses, everything is in art, right,
• 44:22
  Speaker 8: and money. If you are running a business, often the
• 44:27
  Speaker 8: boss doesn't get paid, right, it's a huge cash suck.
• 44:32
  Speaker 8: You're bringing the money, you're investing some here, you're investing
• 44:35
  Speaker 8: some there, right, and you're paying for all the great
• 44:38
  Speaker 8: people that work for you, the averatar and the marketing,
• 44:40
  Speaker 8: and you don't get paid. We happen to have a
• 44:42
  Speaker 8: great distribution deal. We had another trading company, Samsung, who
• 44:46
  Speaker 8: was manufacturing and distributing on clothes right, and we were
• 44:50
  Speaker 8: being able to finanswers through there. But you often have
• 44:52
  Speaker 8: to raise funds, and sometimes people sell to take money
• 44:55
  Speaker 8: off the table. Sometimes they sell because they go I've
• 44:59
  Speaker 8: been I've had plenty. I hear this about, I hear
• 45:04
  Speaker 8: this about. I don't know ten times a year I
• 45:07
  Speaker 8: was the richest poorest man or woman in the room.
• 45:10
  Speaker 8: Why I was doing two hundred million dollars. I lived
• 45:15
  Speaker 8: a great life, car that's whatever. But I wasn't saving
• 45:18
  Speaker 8: enough because if I even made an extra ten million,
• 45:21
  Speaker 8: I'm putting it back in the business. So now a
• 45:24
  Speaker 8: public company came in and took me out right and
• 45:26
  Speaker 8: gave me took out fifty one percent. I took a
• 45:29
  Speaker 8: good amount of money at the table. I got to
• 45:31
  Speaker 8: now work for it for three years of the face
• 45:33
  Speaker 8: and operated no problem. So you'll always come across those challenges.
• 45:39
  Speaker 8: That's a very personal decision. Why are you in business?
• 45:41
  Speaker 8: Do you want partners? Do you want to be taken out.
• 45:44
  Speaker 8: There's a lot of people who've had companies who end
• 45:46
  Speaker 8: up not having anything at the end of the day
• 45:48
  Speaker 8: because they put the money in so much. Everybody got paid.
• 45:52
  Speaker 8: You know one person who got paid more than all
• 45:54
  Speaker 8: of us, our gene maker in the beginning. You know
• 45:56
  Speaker 8: what he said, guy from China. He said, I don't
• 46:00
  Speaker 8: care if you make a gene for four dollars, you
• 46:02
  Speaker 8: make it a fifty dollars. I want one dollar a gene.
• 46:05
  Speaker 8: I will I'll handle it. I'll I'll get the buttons,
• 46:08
  Speaker 8: I'll put thee all the things you want together, I'll
• 46:10
  Speaker 8: put together. I'll package our queer customs whatever. He made
• 46:13
  Speaker 8: one dollar a gene. Five years in he made thirty
• 46:17
  Speaker 8: million jeans. He didn't have any staff, he didn't have
• 46:22
  Speaker 8: to do any advertising, any marketing. So there's a lot
• 46:26
  Speaker 8: of people who are gonna get paid often and you don't.
• 46:30
  Speaker 8: You'll turn around, you have a retail store. But who
• 46:32
  Speaker 8: got paid. I'll give you. I'll give you an instance.
• 46:35
  Speaker 8: One of my buddies, really wealthy real estate guy he
• 46:38
  Speaker 8: talks to a huge, huge celebrity that we all know,
• 46:41
  Speaker 8: we all know of, not an African American celebrities. Happened
• 46:44
  Speaker 8: in a celebrity and the guy was like, yeah, you know,
• 46:47
  Speaker 8: I'm opening all these stores in these areas and he
• 46:50
  Speaker 8: has all a lot of different type of stuff. He said, Oh, cool,
• 46:52
  Speaker 8: you ownly in the stores. He said, no, no, I
• 46:55
  Speaker 8: don't know. I don't ownly in that real estate. You know.
• 46:58
  Speaker 8: And let's say I'm not gonna say what he's selling.
• 47:00
  Speaker 8: You know, you'll know what he's selling. He's changed his
• 47:02
  Speaker 8: business now. And he was on the phone with these
• 47:04
  Speaker 8: big agents. These agents were on the phone with him.
• 47:06
  Speaker 8: He was on the phone. Everybody's on the phone, and
• 47:08
  Speaker 8: he just kind of wanted to talk to my real
• 47:10
  Speaker 8: estate guy. A real estate guy said, let's say he
• 47:12
  Speaker 8: was just selling I don't know, let's say he was
• 47:16
  Speaker 8: selling juices, green drinks. And he said, so you don't
• 47:19
  Speaker 8: even real estate. He said no. He said, you're a
• 47:23
  Speaker 8: fucking schmuck.
• 47:25
  Speaker 6: That's crazy.
• 47:26
  Speaker 8: He said, what the agent's on the phone. You can't
• 47:29
  Speaker 8: talk to him like that. He's one of the biggest
• 47:30
  Speaker 8: stars in the normal And he said, hold on, why
• 47:32
  Speaker 8: you call me a smug. You got to deal with
• 47:36
  Speaker 8: bringing in the juice, making the juice to employees, the taxes,
• 47:38
  Speaker 8: all the kinds of advertising marketing. I get paid whether
• 47:41
  Speaker 8: you sell a goddamn juice or not. You're a schmuck.
• 47:45
  Speaker 8: Everybody hung up the phone. No, you can't talk to
• 47:50
  Speaker 8: him like that. He's not used to talking like I
• 47:51
  Speaker 8: know why he's not like. You know why he's not
• 47:53
  Speaker 8: used to talking like that because you're busy trying to
• 47:54
  Speaker 8: make twenty percent of every deal you do. And I
• 47:57
  Speaker 8: get it. You don't want to tie him up with
• 47:59
  Speaker 8: people who may not do the right or the wrong
• 48:00
  Speaker 8: thing with him, so you don't look crazy. But he's
• 48:02
  Speaker 8: a schmuck. That star called the guy separately, flew out
• 48:08
  Speaker 8: to where he was and was like, I sat with
• 48:10
  Speaker 8: him for three days and said, let me look through
• 48:11
  Speaker 8: your papers if possible, you know, kind of mentor me.
• 48:14
  Speaker 8: Now that guy owned all the real estate. But there's
• 48:17
  Speaker 8: a lot of people who can get paid out of
• 48:19
  Speaker 8: your business, and you don't if you don't tweak things
• 48:23
  Speaker 8: the right way.
• 48:24
  Speaker 3: That's a fact. Pretty much working and pay everybody else.
• 48:28
  Speaker 8: Everybody's getting paid for you, Isn't that? Isn't that entrepreneurship
• 48:32
  Speaker 8: at the time, because when you start, you don't own anything.
• 48:34
  Speaker 8: When you start, you want to you want to solve
• 48:36
  Speaker 8: a problem, right, you know, you guys started by wanting
• 48:39
  Speaker 8: to solve a problem. There's something out there that is
• 48:41
  Speaker 8: not entertaining but educating. And we want to make sure
• 48:44
  Speaker 8: we bring in a certain way. And we wanted to
• 48:46
  Speaker 8: be a value to a very certain community. But we
• 48:49
  Speaker 8: want to bring everybody out there. And once it's a
• 48:51
  Speaker 8: value here, it'll it'll flow, no problem and and and
• 48:55
  Speaker 8: we just want to solve a problem. You guys didn't
• 48:57
  Speaker 8: own microphone, the microphone company, you didn't own the camera company.
• 49:01
  Speaker 8: Now you can honestly do more of what you have
• 49:04
  Speaker 8: and do things. But when you start, all you're trying
• 49:07
  Speaker 8: to do is solve a problem. You're not thinking about
• 49:10
  Speaker 8: owning anything. All you need is help, right, and that's that.
• 49:13
  Speaker 8: But where during that time do you switch and say?
• 49:17
  Speaker 8: Barbara Corkon always say it was the building she owned
• 49:19
  Speaker 8: more than the building she sold, that she realized she
• 49:22
  Speaker 8: made more money. She decided to put bigger offices in
• 49:25
  Speaker 8: bigger building that she owned.
• 49:28
  Speaker 5: So let's talk about some angel investing. Obviously, being on
• 49:31
  Speaker 5: Shark Tank, you were investing before, but now you do it.
• 49:35
  Speaker 5: So a lot of people look at Shark Tank and
• 49:37
  Speaker 5: they don't think it's like a real business thing. They
• 49:40
  Speaker 5: just think it's like Hollywood. But you're actually investing in
• 49:42
  Speaker 5: some of these companies right.
• 49:44
  Speaker 8: Right, well, doing something like you believe in it.
• 49:47
  Speaker 3: I'm just sitting the public seasons open for the public.
• 49:53
  Speaker 3: I got you.
• 49:53
  Speaker 8: I got you, yo, man, I didn't give you my
• 49:57
  Speaker 8: number yet did.
• 49:58
  Speaker 3: Fifteen seasons of the So yeah, so let's talk about
• 50:02
  Speaker 3: some successes.
• 50:03
  Speaker 8: Let's talk about that. But you know what, I was
• 50:05
  Speaker 8: sitting with somebody the other night and he said to
• 50:08
  Speaker 8: me the same thing, And I said, man, why do
• 50:10
  Speaker 8: you ask me that? I said, because after all these years,
• 50:14
  Speaker 8: don't you think it would have came out? First of all,
• 50:16
  Speaker 8: if it was not my money, I get everybody how
• 50:21
  Speaker 8: much you need, and then every one of my cousins,
• 50:25
  Speaker 8: nephews and uncles would have been on that your pool, Gamon,
• 50:28
  Speaker 8: what you need? I got you, right, So first of
• 50:31
  Speaker 8: all that, Second of all, the picture is an hour
• 50:36
  Speaker 8: long average out. We don't know anything about the entrepreneurs
• 50:40
  Speaker 8: because somebody said, well, damon, you know how much you
• 50:44
  Speaker 8: know about them? If I knew about them, I wouldn't
• 50:46
  Speaker 8: even tell them to come down the aisle because you
• 50:47
  Speaker 8: wouldn't hear me say stuff like, hey, on your social media,
• 50:52
  Speaker 8: you said some derogatory things six years ago about women
• 50:55
  Speaker 8: or about veterans. Right, you don't hear that because I
• 50:57
  Speaker 8: don't know anything. Right, we would have upper hand on
• 51:01
  Speaker 8: these things. But again, then why do I even wait
• 51:04
  Speaker 8: for you to come down out and say I'm out?
• 51:05
  Speaker 8: Why would I even play you know what I mean?
• 51:07
  Speaker 8: Or act right? So they're real and it's our all money.
• 51:12
  Speaker 8: That's why, you know. So a lot of times people
• 51:14
  Speaker 8: go so first of all, hour long, sixteen camera shooting it,
• 51:19
  Speaker 8: sixteen hours of footage for you to say eight minutes,
• 51:22
  Speaker 8: I've to have people go yode, Why would you give
• 51:25
  Speaker 8: somebody ten seconds to decide on something so critical in
• 51:30
  Speaker 8: their life. I've been offering you one hundred thousand dollars
• 51:36
  Speaker 8: for thirty minutes. You're not looking at me and you
• 51:39
  Speaker 8: want to kiss Mark Cuban's big, pasty white ass. Can
• 51:42
  Speaker 8: you give me an answer?
• 51:44
  Speaker 6: I'm out? You know?
• 51:48
  Speaker 8: So it is just really gets and you see us
• 51:51
  Speaker 8: sometimes have teeth in various ways. Because there have been
• 51:56
  Speaker 8: people that have went off and paid all their bills
• 51:58
  Speaker 8: and not put the money in the come or lied
• 52:01
  Speaker 8: or like yo, man, I'm doing you. So we don't
• 52:04
  Speaker 8: close the deals right there, we close about eighty percent
• 52:06
  Speaker 8: of the deal. That takes us anywhere from six to
• 52:08
  Speaker 8: nine months to close the deal. Sometimes like yo, why
• 52:10
  Speaker 8: don't you tell me you, oh, the irs a million dollars?
• 52:11
  Speaker 8: They'll be like, you ain't asked. I'm mad at that,
• 52:15
  Speaker 8: you know what I mean.
• 52:17
  Speaker 7: Yeah, So.
• 52:19
  Speaker 8: We gotta bet it. We gotta bet these deals. And
• 52:21
  Speaker 8: that's why you see sometimes the nastiness because we've been
• 52:24
  Speaker 8: through it for fifteen years and there are a good
• 52:29
  Speaker 8: amount of people who are either the green. I don't
• 52:34
  Speaker 8: personally believe anybody's gotten up on there and said I
• 52:37
  Speaker 8: want to lie and I want to steal. I do
• 52:40
  Speaker 8: not believe in that. More importantly, though, the other side
• 52:45
  Speaker 8: of it, man, we've seen so many people that have
• 52:47
  Speaker 8: changed their lives and have educated empowered other people. I
• 52:50
  Speaker 8: no longer have to come up with the biggest and
• 52:52
  Speaker 8: best idea myself younger people, older people than me, that
• 52:55
  Speaker 8: to solve and a problem, allow us to be part
• 52:57
  Speaker 8: of their dream. But it is as real as it
• 52:59
  Speaker 8: gets and that's why it's fifteen years in why it's
• 53:02
  Speaker 8: so real and it's real and it's accurate in real time.
• 53:05
  Speaker 8: If you go and look at it, you'll go that's
• 53:07
  Speaker 8: when we're in a recession. That's when the COVID hit,
• 53:10
  Speaker 8: Oh why is this year? They're talking about AI, they're
• 53:12
  Speaker 8: talking about employee retention, they're talking about all their things
• 53:16
  Speaker 8: and and and you see real time what's happening in
• 53:20
  Speaker 8: the environments.
• 53:21
  Speaker 3: Some of the best deals.
• 53:21
  Speaker 4: But there's still a competitive piece to it, right, But
• 53:24
  Speaker 4: I mean it's still a competitive piece. So like when
• 53:26
  Speaker 4: you're competing against the other sharks. Yeah, and you're watching
• 53:30
  Speaker 4: some of the successes and you know you passed on one.
• 53:33
  Speaker 4: What is that like when you get back on sale?
• 53:35
  Speaker 8: Well, first of all, on set itself, a lot of
• 53:38
  Speaker 8: people go, are you kind of drumming it up?
• 53:42
  Speaker 2: Now?
• 53:43
  Speaker 8: If you go out and play if you go out
• 53:44
  Speaker 8: and play football or basketball, your brother, you're gonna try
• 53:47
  Speaker 8: to crack his head open, aren't you? Now put yourself
• 53:50
  Speaker 8: in front of ten million people with with with two
• 53:54
  Speaker 8: hundred thousand dollars at risk and ego, I'm going hard
• 53:58
  Speaker 8: after Barbara to take a medicine. So it's pretty easy.
• 54:01
  Speaker 8: I'm going hard after Kevin. Yeah know the scoreboard is real,
• 54:07
  Speaker 8: and uh, anybody want to ask me who is the
• 54:10
  Speaker 8: most successful investors in history? Well, I'm glad you asked.
• 54:13
  Speaker 8: So you know, you know, there was a company that
• 54:19
  Speaker 8: came on to the show. There's a company that came
• 54:23
  Speaker 8: onto the show called Bamba Socks, and uh, they're going
• 54:27
  Speaker 8: to hit him a little billion dollars this year in sales.
• 54:30
  Speaker 8: More importantly, they've given a pair of socks and garments
• 54:34
  Speaker 8: to homeless every time that they purchased it. Number one
• 54:37
  Speaker 8: brand ever invested in Shark Tank history, and the one
• 54:43
  Speaker 8: that got away is a company called ring Doorbell. So
• 54:46
  Speaker 8: for one point three billion dollars. Now, the guy that
• 54:49
  Speaker 8: came on, Jamie became a gift Shark says he was
• 54:52
  Speaker 8: asking too much when he came on the show. And
• 54:54
  Speaker 8: he says he understands while we passed, I think you
• 54:58
  Speaker 8: need five percent because after me, after we tenderized him
• 55:01
  Speaker 8: so gently, he went out to the market and raised
• 55:03
  Speaker 8: the money, but he reduced his ask. However, everybody asked
• 55:08
  Speaker 8: me off and do I ever regret? I normally don't
• 55:11
  Speaker 8: regret anything. The only time I do regret something is
• 55:13
  Speaker 8: there was a company that I went after to, you know,
• 55:17
  Speaker 8: to try to bid off of, and I lost it.
• 55:19
  Speaker 8: And it's the second best selling company in Shark Tank history.
• 55:22
  Speaker 8: And it is a stupid ass looking little sponge. It
• 55:26
  Speaker 8: has a smiley face on it. It's called the scrub Daddy.
• 55:30
  Speaker 8: Laurie invested into that thing, and I think she's probably
• 55:32
  Speaker 8: done five hundred million dollars. And not only did she
• 55:35
  Speaker 8: do five undre minute now, but every time I walk
• 55:36
  Speaker 8: into the grocery store or something, what do you think
• 55:38
  Speaker 8: smiling at me? And I'm gonna tell you, I'm gonna
• 55:43
  Speaker 8: keep it one hundred. Laurie has twelve all the top
• 55:48
  Speaker 8: twenty best selling products in shark Tank history. Remember she
• 55:52
  Speaker 8: was doing this before she was doing Shark Tank. She
• 55:54
  Speaker 8: was finding great businesses. She put them on QBC. She
• 55:58
  Speaker 8: knows her customer, so play and under and under fifty dollars,
• 56:02
  Speaker 8: she's slaying it like crack. She is the best when
• 56:05
  Speaker 8: it comes to consumer package goods on Shark Tank, and
• 56:09
  Speaker 8: she knows how to market is so so it is
• 56:12
  Speaker 8: very very competitive.
• 56:14
  Speaker 5: So let's talk about the sock situation then, since that's
• 56:16
  Speaker 5: the real life example of a company that worked.
• 56:20
  Speaker 3: That's the number one in Shark Tank.
• 56:22
  Speaker 8: History in invested in.
• 56:23
  Speaker 3: Yes, So can you talk about the deal?
• 56:26
  Speaker 8: I don't.
• 56:26
  Speaker 3: I don't know if people actually watched that episode, like
• 56:28
  Speaker 3: what was the ass? What did you agree to? And
• 56:31
  Speaker 3: how is that company able to scale to where it
• 56:33
  Speaker 3: is now? So I thank you.
• 56:35
  Speaker 8: I can't necessarily talk about the agree to, right, because
• 56:38
  Speaker 8: some of these things fluctuate because and that's that's the
• 56:41
  Speaker 8: big story they try to put out. And then you
• 56:43
  Speaker 8: do you realize that the deal don't close exactly like
• 56:48
  Speaker 8: they do on TV. No shit, the Sharks actually negotiate
• 56:55
  Speaker 8: when they go through due diligence. Do you ever go
• 56:57
  Speaker 8: to a house and be like, yeah, I like the house,
• 56:59
  Speaker 8: I mean you for it. Let me check it out.
• 57:01
  Speaker 8: Oh the boilers broke, I'm going to give you four
• 57:03
  Speaker 8: hundred thousand. No, you figure it out, right. So the
• 57:07
  Speaker 8: deal I think I'm not sure how much it was,
• 57:10
  Speaker 8: but it was. I think I said I on a show.
• 57:14
  Speaker 8: I think I did seventeen point five percent or nineteen
• 57:17
  Speaker 8: or something like that. They will only do in eight
• 57:19
  Speaker 8: hundred thousand. That's the important part. But I think what
• 57:22
  Speaker 8: I can take away from that is that if you
• 57:24
  Speaker 8: look at why I got into the show. When you're
• 57:26
  Speaker 8: looking at a target to invest in, you should understand
• 57:30
  Speaker 8: why they want to be in it. You know, into
• 57:32
  Speaker 8: the investment. These guys go on the show. They knew
• 57:34
  Speaker 8: that the last thing I wanted was to invest in
• 57:37
  Speaker 8: clothing companies. I went onto the show because in O eight,
• 57:40
  Speaker 8: when nobody can buy, when nobody has money, nobody's buying
• 57:44
  Speaker 8: more clothes if they can't pay their mortgage. I have
• 57:48
  Speaker 8: ten clothing company I just told you about all them.
• 57:49
  Speaker 8: Eight of them were dead. The last thing I wanted
• 57:52
  Speaker 8: was more clothing coming because I want to diversify my portfolio.
• 57:55
  Speaker 8: I want to go to Mason and say, hey, I
• 57:57
  Speaker 8: got Young Men's But can I say you cosmetics? Can
• 58:01
  Speaker 8: I sell you electronics? And I was only, like I
• 58:03
  Speaker 8: said in the beginning, I was only getting pitched clothing
• 58:05
  Speaker 8: companies being put in a box. So I want to
• 58:07
  Speaker 8: go on the show to diversify my portfolio. The last
• 58:09
  Speaker 8: thing I want with socks. However, social media started to
• 58:13
  Speaker 8: really turn and we started to convert online. So they
• 58:15
  Speaker 8: were like, I know Damon doesn't like it. He likes clothes,
• 58:19
  Speaker 8: but he also likes philanthropy, and he doesn't know he's
• 58:23
  Speaker 8: dependent on the retailers. We're going to show him how
• 58:26
  Speaker 8: to give at the same time and talk directly to
• 58:29
  Speaker 8: his customer. Because now Damien makes it a ten, sells
• 58:31
  Speaker 8: it hisself for twenty, they sell for forty. I'm gonna
• 58:34
  Speaker 8: show Damon how to make of a ten sell it
• 58:35
  Speaker 8: for forty. So they kind of wag the dog. There
• 58:39
  Speaker 8: was a last thing I want to see and I
• 58:40
  Speaker 8: think that that's the great thing a lot of people
• 58:42
  Speaker 8: can learn from. You can find other ways to extract
• 58:47
  Speaker 8: informational value to somebody you're pitching. And that's what happened,
• 58:52
  Speaker 8: and they scale because again the changing of times. When Food,
• 58:58
  Speaker 8: when we gave away millions of dollars in the nineties,
• 59:01
  Speaker 8: we never advertised a market it because we were like,
• 59:04
  Speaker 8: it's like making the it's like making money of the
• 59:07
  Speaker 8: hardship of people. Like, what are we going to do? Right?
• 59:10
  Speaker 8: There wasn't social media, and then we had a big backlash.
• 59:13
  Speaker 8: Food done support African American Then we had already done.
• 59:17
  Speaker 8: We were building you know, a basketball courts and whatever.
• 59:21
  Speaker 8: But now with social media, people want to know what
• 59:24
  Speaker 8: did you do for somebody? There's layers you don't have
• 59:27
  Speaker 8: to advertise it. There's user generated content as we call it, like, hey,
• 59:31
  Speaker 8: I just got something from this company, thank you. And
• 59:34
  Speaker 8: so now when people buy bombed socks, like I'll give
• 59:36
  Speaker 8: you example, I'll talk to my daughter working at a
• 59:38
  Speaker 8: pizza bauler. I'll say, hey, I gave it the end
• 59:40
  Speaker 8: of the year, all these chateral on the days she said,
• 59:42
  Speaker 8: and yeah, I give twenty times your honey, we're only
• 59:45
  Speaker 8: three months into the year. I know. But daddy, and
• 59:47
  Speaker 8: you only worked the pizza ball. Daddy, every time I
• 59:48
  Speaker 8: bought this, I helped clean up the ocean. Every time
• 59:50
  Speaker 8: I bought this, I stopped human trafficking. And every time
• 59:53
  Speaker 8: I bought this, somebody in need got another pair of socks.
• 59:57
  Speaker 8: And by the way, I'm giving it to you for Christmas,
• 59:58
  Speaker 8: ten pairs and you're giving the ten people, just so
• 1:00:01
  Speaker 8: you know. And mass the way Bamba's has really been
• 1:00:03
  Speaker 8: effective and their hands on they're in they're in the shelters,
• 1:00:09
  Speaker 8: they know everybody. They're not just dumping off boxes. They
• 1:00:13
  Speaker 8: really are in there, and we are in there. I
• 1:00:16
  Speaker 8: have the joy of going once in a while. They
• 1:00:18
  Speaker 8: go all the time. So that's why they's successful. They're
• 1:00:22
  Speaker 8: really about what they do.
• 1:00:23
  Speaker 4: You know, after fifteen years of the show, I wonder
• 1:00:26
  Speaker 4: do you are you learning from your fellow sharks and
• 1:00:32
  Speaker 4: from the contestants will come Because you talk about in
• 1:00:34
  Speaker 4: powership these three things that the help power, right, you
• 1:00:37
  Speaker 4: talk about nurturing relationships, you talk about influence, and you
• 1:00:41
  Speaker 4: talk about the last one was influence. So the influences
• 1:00:46
  Speaker 4: obviously the people around you. So I wonder what that
• 1:00:48
  Speaker 4: relationships like as you continuously be on the show Nekotia
• 1:00:51
  Speaker 4: and we can see that happening. But the nurturing, because yes,
• 1:00:55
  Speaker 4: the competitiveness from your counterparts on the show, but also
• 1:01:00
  Speaker 4: the relationship that you're going into business with people with.
• 1:01:03
  Speaker 8: How do you how do you naviget to the man.
• 1:01:04
  Speaker 8: I'm learning from everybody. Every I mean, even if it's
• 1:01:07
  Speaker 8: a mistake, I'm learning. But I'm really learning from everybody.
• 1:01:10
  Speaker 8: You know, a lot of people say, Davey, you know
• 1:01:12
  Speaker 8: you're the sneaking grass. You're so quiet on the show. No,
• 1:01:14
  Speaker 8: I'm just not that bright. So I'm sitting there, I'm
• 1:01:17
  Speaker 8: listening to something. I'm like, oh, yeah, I'm gonna get
• 1:01:19
  Speaker 8: into that. I just wait till my shot. You know
• 1:01:21
  Speaker 8: what I'm saying, Like double dust, Yeah, you're gonna rock
• 1:01:24
  Speaker 8: thish way. Oh I'm about to put a bit in it.
• 1:01:27
  Speaker 8: And Robert said some crazy shit, and I'd be like,
• 1:01:31
  Speaker 8: oh yeah, yeah yeah, And for that reason, I'm out.
• 1:01:36
  Speaker 8: So I'm learning from everybody, you know what I'm saying.
• 1:01:38
  Speaker 8: And then those these people are coming on, you know,
• 1:01:42
  Speaker 8: they're coming on solving problems that are so simple, so complicated.
• 1:01:46
  Speaker 8: You're learning. You know what I learned the other day,
• 1:01:48
  Speaker 8: I'm listening. You like vanilla, natural vanilla extract, you know,
• 1:01:52
  Speaker 8: you like things of You know what natural vanilla extract is.
• 1:01:57
  Speaker 8: It's the juice that comes out of a beaver's ass.
• 1:02:02
  Speaker 8: You think about some soft serve right now, I got it,
• 1:02:04
  Speaker 8: But now it is the glands in a beaver's ass.
• 1:02:08
  Speaker 3: It's not vanilla from a vanilla vanilla, vanilla bean bean.
• 1:02:13
  Speaker 8: It's natural vanilla extract is the glands they excrete something
• 1:02:20
  Speaker 8: from a beaver's ass.
• 1:02:24
  Speaker 3: Learn something new every day I'm out.
• 1:02:28
  Speaker 8: You see how much I learned. That's crazy, isn't it nuts.
• 1:02:34
  Speaker 8: I learned all these things from the show. I learned
• 1:02:36
  Speaker 8: so much from the show. Now, that's pretty disgusting, isn't it. Yeah?
• 1:02:41
  Speaker 3: Pretty Yeah?
• 1:02:43
  Speaker 8: Yeah, you know I hate these quiet moments.
• 1:02:49
  Speaker 3: Well, there you have it. So let's switch topic. Let's
• 1:02:52
  Speaker 3: talk about literature.
• 1:02:54
  Speaker 5: So you have a children's book, yes, right, ah man,
• 1:02:57
  Speaker 5: what made you want to become an all author?
• 1:03:00
  Speaker 3: In that realm? Thank you?
• 1:03:04
  Speaker 8: Is lear? Anybody my staff said it? I said, what
• 1:03:07
  Speaker 8: are you talking about? And they were like, well, they
• 1:03:08
  Speaker 8: mean you know. I Thank God. I have many top
• 1:03:12
  Speaker 8: selling books. But these books are thick, right, and I
• 1:03:15
  Speaker 8: don't like writing them necessarily. I write them because every
• 1:03:19
  Speaker 8: time I hear somebody have a problem, I write down, go, okay,
• 1:03:21
  Speaker 8: well go to Tim Ferriss, go to Tony Robins, go
• 1:03:23
  Speaker 8: check out my book.
• 1:03:24
  Speaker 3: Whatever.
• 1:03:24
  Speaker 8: Okay. If I don't have an answer for it, I
• 1:03:25
  Speaker 8: write it. And then after about two years ago, wow,
• 1:03:28
  Speaker 8: this book needs to be written. But what I realized
• 1:03:31
  Speaker 8: is we in this country. You see Mark Cuban, as
• 1:03:33
  Speaker 8: you all know, taking on this a very big challenge
• 1:03:36
  Speaker 8: of breaking the this uh pharma uh pharmaceutical challenge right
• 1:03:41
  Speaker 8: and giving our and giving access to drugs at affordable prices.
• 1:03:44
  Speaker 8: And he's got a big challenge ahead of them. But
• 1:03:47
  Speaker 8: it's called cost plus drugs. It's the stupidest name I've
• 1:03:51
  Speaker 8: ever heard. Because when people say cost plus doesn't that
• 1:03:56
  Speaker 8: sound like a lot? Okay, So as a business person,
• 1:03:59
  Speaker 8: what cost is is at cost, meaning it is wholesale.
• 1:04:04
  Speaker 8: Plus he puts a little ten percent on. So if
• 1:04:07
  Speaker 8: the pill is one hundred dollars, he buys the pill
• 1:04:11
  Speaker 8: for five and maybe puts a little bit on for
• 1:04:14
  Speaker 8: his staff and sells it two dollars and sells it
• 1:04:17
  Speaker 8: at seven. That's what it really is, and he's changing
• 1:04:20
  Speaker 8: the world with it. I have a bigger issue that's
• 1:04:23
  Speaker 8: easier to solve this country. We never have financial intelligence.
• 1:04:28
  Speaker 8: We're going off a very old school system. Eighty years ago.
• 1:04:32
  Speaker 8: This is the same school system we were at war
• 1:04:34
  Speaker 8: and we were teaching people how to build ships, being
• 1:04:37
  Speaker 8: great employees and it was a great time. That's why
• 1:04:41
  Speaker 8: they have shop and all those other various things. But
• 1:04:44
  Speaker 8: we were never taught financial intelligence. We can be taught
• 1:04:47
  Speaker 8: anything else in school, and especially as African Americans, we
• 1:04:51
  Speaker 8: don't come from legacy wealth, so we probably don't have
• 1:04:54
  Speaker 8: a grandfather, grandmother, or whatever the case is to teach
• 1:04:57
  Speaker 8: us this. And the statu is that kid graduating college
• 1:05:01
  Speaker 8: to day, fifty percent of them will retire with a
• 1:05:04
  Speaker 8: job title that doesn't exist today. It's like telling somebody
• 1:05:08
  Speaker 8: twenty years ago, will you're going to be a social
• 1:05:09
  Speaker 8: media expert or a professional gamer, or a pay per
• 1:05:12
  Speaker 8: click expert, or whatever case is, an AI expert. So
• 1:05:15
  Speaker 8: if you don't have any financial intelligence and you're not
• 1:05:17
  Speaker 8: taught it at the age of six, seven, eight, nine, ten,
• 1:05:19
  Speaker 8: the same way you're taught a sport, the same way
• 1:05:21
  Speaker 8: you're taught an instrument, Well, then at seventeen years old,
• 1:05:24
  Speaker 8: you can acquire seven hundred thousand dollars worth of student
• 1:05:26
  Speaker 8: debt for a career you're not even certain you want
• 1:05:29
  Speaker 8: to have it. You won't pay off until you're in
• 1:05:31
  Speaker 8: your fifties. When you don't have finance and money, well,
• 1:05:37
  Speaker 8: what happens. Domestic violence rises If you don't have money
• 1:05:41
  Speaker 8: and you don't know how financial intelligence works. Well, if
• 1:05:44
  Speaker 8: you don't have access to a job, well somebody will say,
• 1:05:48
  Speaker 8: I don't care if you have excess job. I'll give
• 1:05:50
  Speaker 8: you one hundred I'll give you five hundred dollars. Stand
• 1:05:53
  Speaker 8: on this corner where this color right. You can't eat healthy?
• 1:05:58
  Speaker 8: Eating healthy is expensive. So what's the most profitable things
• 1:06:01
  Speaker 8: in this country to sell? They're made out of butter, sugar,
• 1:06:04
  Speaker 8: and salt. Now all of a sudden, you have health issues.
• 1:06:08
  Speaker 8: You have health issues, and you're not even covered. The
• 1:06:12
  Speaker 8: root of what's going on in this country is our
• 1:06:15
  Speaker 8: children not taught financial intelligence. And I have one hundred
• 1:06:17
  Speaker 8: and fifty teachers that are my advisors, and they don't
• 1:06:21
  Speaker 8: have financial intelligence because they would never taught it. They
• 1:06:24
  Speaker 8: will tell you everything about social studies, everything about math,
• 1:06:28
  Speaker 8: everything about science, but they weren't taught it because again, right,
• 1:06:32
  Speaker 8: so when you taught it at nineteen years old, if
• 1:06:34
  Speaker 8: you take accounting, well, you go to war and they
• 1:06:38
  Speaker 8: put you in a battleship and they teach how to
• 1:06:39
  Speaker 8: swim when you're in middle of the ocean. You're supposed
• 1:06:42
  Speaker 8: to learn this stuff earlier on. And that's why I
• 1:06:45
  Speaker 8: want to break this system. And this is what I'm
• 1:06:47
  Speaker 8: going to go to my grave with. By breaking this system.
• 1:06:51
  Speaker 8: That's not a conspiracy, it's just we have to think
• 1:06:54
  Speaker 8: about it. So if we learn at the earlier age
• 1:06:57
  Speaker 8: how to operate money, it's very simple, not operate money.
• 1:07:01
  Speaker 8: Three dollars, three million, three billion come in. Three dollars
• 1:07:04
  Speaker 8: comes in. The first dollar goals to what you have
• 1:07:06
  Speaker 8: to pay for your rent or medicine order off cases.
• 1:07:08
  Speaker 8: The second goals for an investment, whether in a public
• 1:07:11
  Speaker 8: company or your or your education, but not alone what
• 1:07:15
  Speaker 8: you have right there. And the third goals for what
• 1:07:17
  Speaker 8: you would like to have but don't have to have.
• 1:07:19
  Speaker 8: If you don't spend all the number three, you put
• 1:07:21
  Speaker 8: it into number two. Right, Number two eventually overflows into
• 1:07:26
  Speaker 8: one in three. But as hard working Americans, what do
• 1:07:30
  Speaker 8: we do. We're going to number three first because we
• 1:07:32
  Speaker 8: want to treat ourselves. We worked really hard. We never
• 1:07:35
  Speaker 8: get to number two, and then we pay eighteen percent
• 1:07:37
  Speaker 8: credit card on number one. We corrode it from the bottom.
• 1:07:43
  Speaker 8: If you just put away one hundred dollars, if you
• 1:07:44
  Speaker 8: say automatic debit one hundred dollars every single month out
• 1:07:47
  Speaker 8: of your check when you're eighteen up to sixty, that's
• 1:07:50
  Speaker 8: a one plan thing four million dollars. Right. What about
• 1:07:56
  Speaker 8: long term care? Long term care? If you're listening to
• 1:07:58
  Speaker 8: me right now, If you are, are, you know we're
• 1:08:01
  Speaker 8: going to take care of our parents two times long,
• 1:08:03
  Speaker 8: and they took care of us. If you are right now,
• 1:08:05
  Speaker 8: thirty or fifty, under fifty years old, you could probably
• 1:08:07
  Speaker 8: get a long term care policy at probably maybe fifty
• 1:08:11
  Speaker 8: dollars a month because by the time you're sixty seventy
• 1:08:14
  Speaker 8: years old, God forbid, you have dementia and all these
• 1:08:17
  Speaker 8: other things that are growing, and you have to get
• 1:08:19
  Speaker 8: long term care. It costs an average for you or
• 1:08:23
  Speaker 8: your parents, It costs an average of twenty thousand dollars
• 1:08:25
  Speaker 8: a month to get a decent amount of long term care.
• 1:08:29
  Speaker 8: So imagine if you had three million dollars with the
• 1:08:31
  Speaker 8: bank and both your parents have to go and or
• 1:08:34
  Speaker 8: you're on whoever has to go into long term care
• 1:08:36
  Speaker 8: for three years, your money's gone. This is all about
• 1:08:41
  Speaker 8: having financial intelligence, and those long term care policies could
• 1:08:45
  Speaker 8: be annuities.
• 1:08:47
  Speaker 6: True. Yeah, I mean we're on a similar mission. I know.
• 1:08:51
  Speaker 6: Something that you're also passionate about is Entrepreneur's Day.
• 1:08:54
  Speaker 8: Yeah, Black entreperneuvers Day.
• 1:08:56
  Speaker 6: Yeah, that's that's a little bit.
• 1:09:00
  Speaker 8: I don't know. Other day. I was sitting around in
• 1:09:01
  Speaker 8: twenty twenty, like most of us, I was watching I
• 1:09:05
  Speaker 8: was watching the TV and these kids were burning buildings
• 1:09:07
  Speaker 8: instead of burning businesses, instead of building businesses. And I said,
• 1:09:12
  Speaker 8: I was there in nineteen ninety two and or whenever.
• 1:09:15
  Speaker 8: That was when Ronnie King was choked, and I wanted
• 1:09:17
  Speaker 8: to go out there and burn businesses too. But I
• 1:09:19
  Speaker 8: realized that empowering myself was the only way I was
• 1:09:22
  Speaker 8: going to get out of this situation and make other
• 1:09:25
  Speaker 8: people respect me. I got to find a way to
• 1:09:27
  Speaker 8: ban us together. And so I was feeling helpless like
• 1:09:31
  Speaker 8: most people when I was watching TV and our government
• 1:09:33
  Speaker 8: was not stepping up, and I was seeing a lot
• 1:09:35
  Speaker 8: of things, and I said, you know what, what is
• 1:09:38
  Speaker 8: a true entrepreneur?
• 1:09:39
  Speaker 2: Do?
• 1:09:39
  Speaker 8: Let me call my assets, Let me call brands. I know, hey,
• 1:09:44
  Speaker 8: guys who wants to get together and create something to
• 1:09:46
  Speaker 8: give away money to people in need during this time.
• 1:09:49
  Speaker 8: Let me call all the celebrities and let me call
• 1:09:51
  Speaker 8: Shaquille O'Neil and Bob Johnson, iced T and ll cool
• 1:09:54
  Speaker 8: J and talk about how the times we have failed
• 1:09:58
  Speaker 8: and overcame it and we were in that same frustrating
• 1:10:01
  Speaker 8: space in our lives. I did it online. Next thing,
• 1:10:05
  Speaker 8: you know, I give away two hundred and fifty thousand
• 1:10:07
  Speaker 8: dollars grants. Give it away to a bunch of businesses.
• 1:10:11
  Speaker 8: I have people on the Marquee like shopifying the General
• 1:10:15
  Speaker 8: and Chase saying we're standing by with this man about
• 1:10:18
  Speaker 8: empowering African American. Next thing, you know, I do it
• 1:10:21
  Speaker 8: to the Apollo next year, the next year. Now I'm
• 1:10:23
  Speaker 8: on my fourth year. I've given away almost a million
• 1:10:26
  Speaker 8: dollars to black businesses, a bunch of black businesses that
• 1:10:30
  Speaker 8: have applied for these grants. It's free money. I'm now
• 1:10:35
  Speaker 8: at the Apollo Theater and I do it every single year.
• 1:10:38
  Speaker 8: Went from I went from you know, watching The Sandman
• 1:10:40
  Speaker 8: and all those guys on the Pollo Theater in the
• 1:10:43
  Speaker 8: seventies and eighties, and then standing outside with my little
• 1:10:46
  Speaker 8: table and my hats and my partners trying to sell
• 1:10:49
  Speaker 8: stuff in the nineties, to getting a seat in it
• 1:10:51
  Speaker 8: maybe in two thousands, and now booking it out for
• 1:10:54
  Speaker 8: the for two full days to give away money to
• 1:10:58
  Speaker 8: African Americans who hopefully, because of now social media and
• 1:11:01
  Speaker 8: all this stuff, they're businesses. They can hit a billion people.
• 1:11:04
  Speaker 8: They're going to be bigger and better than damer John
• 1:11:06
  Speaker 8: Ever was right, and you know, and this is something
• 1:11:10
  Speaker 8: I do every year, and unfortunately, money, money's drying up.
• 1:11:15
  Speaker 8: My sponsors all staying by me, my Chase, my shopify,
• 1:11:18
  Speaker 8: you know, my my lows, you know, and the ones
• 1:11:21
  Speaker 8: who did but most of these are the ones who
• 1:11:23
  Speaker 8: were like yo, yeah, yeah, we have this initiative and
• 1:11:27
  Speaker 8: all that, they ain't messing us no more. Wait till
• 1:11:32
  Speaker 8: the next time somebody catches it on film. You know
• 1:11:36
  Speaker 8: what happened every night. The next time is on film,
• 1:11:38
  Speaker 8: they're gonna be like, oh yo dde, what's happening?
• 1:11:41
  Speaker 3: Huh?
• 1:11:42
  Speaker 6: We still got that thing? You would?
• 1:11:43
  Speaker 8: Yeah, yeah, what about that black How you doing out there?
• 1:11:46
  Speaker 8: But the ones who stick by me is sticking buy me?
• 1:11:48
  Speaker 8: The one, you know, the gentleman like you who, if
• 1:11:51
  Speaker 8: you don't talk, the chance we could have been talking
• 1:11:53
  Speaker 8: about this for three support me.
• 1:11:56
  Speaker 3: Well.
• 1:11:56
  Speaker 5: Speaking of support, last question of our asks is obviously
• 1:12:00
  Speaker 5: you've been icon of figuring our culture, but how do
• 1:12:04
  Speaker 5: you feel about your legacy, especially when it comes to
• 1:12:06
  Speaker 5: black media.
• 1:12:06
  Speaker 3: I believe you've never been on any front pages of
• 1:12:11
  Speaker 3: any publication stuff like that. Do you think about that
• 1:12:13
  Speaker 3: stuff or what's your thoughts on Yeah?
• 1:12:17
  Speaker 8: I think I think somebody share that with you. Know.
• 1:12:19
  Speaker 8: I have not been on the cover of any black
• 1:12:20
  Speaker 8: magazine ever. I have the top I have the number
• 1:12:26
  Speaker 8: one selling cover on inc And the number four selling
• 1:12:29
  Speaker 8: cover on INK. I've been on Ink three times. I
• 1:12:31
  Speaker 8: think Success magazine, Entrepreneur magazine. I've never been on the
• 1:12:36
  Speaker 8: cover of any African American magazine. I think that it is,
• 1:12:42
  Speaker 8: and it's not because I need to be right. I'm
• 1:12:44
  Speaker 8: on Sharks Kank reruns on CNBC sixty times a week.
• 1:12:48
  Speaker 8: I am the Kardashians of CNBC. I don't have any
• 1:12:51
  Speaker 8: shortage of attention for me now to qualify that statement,
• 1:12:56
  Speaker 8: I should not be on the cover of a music magazine.
• 1:12:59
  Speaker 8: I should not be on a cover of a sports magazine, right.
• 1:13:02
  Speaker 8: I do think that those magazines, if they're gonna put
• 1:13:04
  Speaker 8: Beyonce on the cover, and I know cover space is important,
• 1:13:08
  Speaker 8: put the inside story of Beyonce is amazing team behind her, right,
• 1:13:15
  Speaker 8: And that's the way we show or Lebron put Maverick
• 1:13:19
  Speaker 8: and a lot of people in between. Because I want
• 1:13:21
  Speaker 8: every single kid out there to say, if I can't
• 1:13:23
  Speaker 8: be a Beyonce, I'm gonna be around her because I
• 1:13:26
  Speaker 8: could be her lawyer, you know, I could be her manager,
• 1:13:29
  Speaker 8: and the same with Lebron. And I think that our
• 1:13:31
  Speaker 8: young men and women need to see that they can
• 1:13:34
  Speaker 8: be part of that, and I think they would also
• 1:13:36
  Speaker 8: That magazine would probably get way more advertising because they
• 1:13:40
  Speaker 8: wouldn't get necessarily just cosmetic lines and clothes, but they
• 1:13:43
  Speaker 8: would get chase, they would get into it, right, they
• 1:13:47
  Speaker 8: would get other things. I think it's a smart thing
• 1:13:49
  Speaker 8: to do.
• 1:13:53
  Speaker 7: You know.
• 1:13:54
  Speaker 8: I don't know why necessarily, I haven't been on there,
• 1:14:00
  Speaker 8: because there's a million people like us three in the
• 1:14:02
  Speaker 8: room that we see the behind the scenes. Maybe it
• 1:14:05
  Speaker 8: goes back to that systemic thing we were talking about
• 1:14:07
  Speaker 8: in the past where they weren't used to putting African
• 1:14:11
  Speaker 8: Americans on the top because they said, hold on, slow down,
• 1:14:13
  Speaker 8: and don't put me on there. I don't want to
• 1:14:15
  Speaker 8: do it. I don't want too much attention. I mean,
• 1:14:18
  Speaker 8: we only quietly heard of Robert Smith two three years ago, right,
• 1:14:25
  Speaker 8: and there's there's other you know, I'm fortunate enough enough
• 1:14:29
  Speaker 8: to be in a group. There is about sixty versions
• 1:14:32
  Speaker 8: of us in that room. There's Ken Shanol, Robert Smith,
• 1:14:35
  Speaker 8: and there's the other. There's other people Robert Smith's size
• 1:14:39
  Speaker 8: that nobody knows the right people know. I don't know,
• 1:14:44
  Speaker 8: but forget me. I think that, you know, I think
• 1:14:50
  Speaker 8: that the I think that the African American inspired publications
• 1:14:54
  Speaker 8: should just highlight more of people like you know, the
• 1:15:01
  Speaker 8: you know, IBM CEO. I think that I think the
• 1:15:03
  Speaker 8: more they they got to find a way to do
• 1:15:06
  Speaker 8: that because our kids want to emulate what they see
• 1:15:08
  Speaker 8: the most of and it's very hard, right, you know,
• 1:15:12
  Speaker 8: I can sit there on a short tangle. I want
• 1:15:14
  Speaker 8: you guys can do Earn your Leisure you want, you
• 1:15:15
  Speaker 8: can see it. And if you listen to Earn your
• 1:15:17
  Speaker 8: Leisure podcast, you probably will listen to you. You definitely
• 1:15:19
  Speaker 8: listen to every podcast, and you may listen to one
• 1:15:22
  Speaker 8: a couple of times. But if you hear a song,
• 1:15:25
  Speaker 8: you know you're gonna listen to that ten times a day.
• 1:15:28
  Speaker 8: And that song, as country music and rap music, is
• 1:15:32
  Speaker 8: always the voice of the people. That song is a
• 1:15:35
  Speaker 8: young man or a woman reflecting on what they are
• 1:15:38
  Speaker 8: dealing with in life, and nobody, nobody can judge them
• 1:15:42
  Speaker 8: for saying this is right or wrong, and that may
• 1:15:45
  Speaker 8: often have a lot of elements that are not in
• 1:15:51
  Speaker 8: the best interest of a child to want to aspire to.
• 1:15:56
  Speaker 8: So we have to be very intentional about the way
• 1:15:59
  Speaker 8: that we try to like you do it, like you
• 1:16:02
  Speaker 8: do it, or your asia. We have to be intentional
• 1:16:04
  Speaker 8: about the way we try to curve the discussion.
• 1:16:07
  Speaker 6: I think, yeah, well I'd like to thank you. Yeah,
• 1:16:11
  Speaker 6: I'd like to forgive Chauncey and Events for making us
• 1:16:14
  Speaker 6: way through.
• 1:16:14
  Speaker 4: Yeah, for creating a mold and for creating a platform
• 1:16:20
  Speaker 4: for us to aspire to look to be right. So
• 1:16:23
  Speaker 4: if there isn't a damn John that comes from hip
• 1:16:26
  Speaker 4: hop and house queens, there is a sense to business.
• 1:16:29
  Speaker 4: Who knows if there is two young men that can
• 1:16:31
  Speaker 4: create an leisure So I want to just person thank.
• 1:16:33
  Speaker 8: You, thank you, thank you for highlighting this. And I
• 1:16:36
  Speaker 8: wouldn't be here without all those grades who who we
• 1:16:40
  Speaker 8: will never hear the names of, who have sacrificed their
• 1:16:43
  Speaker 8: lives and various other things for us to be able
• 1:16:46
  Speaker 8: to even be free, right to have this discussion that
• 1:16:49
  Speaker 8: that people will never have heard of. Who you know
• 1:16:54
  Speaker 8: we you know we stand on the shoulder giants, and
• 1:16:56
  Speaker 8: I know we can appreciate that. So thank you and
• 1:16:58
  Speaker 8: thank you everybody who listens in man, thank you for
• 1:17:00
  Speaker 8: keeping supporting entrepreneurship. Love what you did out there with
• 1:17:05
  Speaker 8: all those things in Atlanta. What is it called, oh
• 1:17:07
  Speaker 8: herd twenty thousands? We need you to do next year.
• 1:17:10
  Speaker 8: I absolutely love to see you doing. By the way,
• 1:17:13
  Speaker 8: when I was talking about my book, please, if you're
• 1:17:16
  Speaker 8: a celebrity or a bank or whoever you are, or
• 1:17:18
  Speaker 8: whatever the case is. Please compete with me. Get another
• 1:17:21
  Speaker 8: financial book out. It was the number one book on
• 1:17:24
  Speaker 8: Amazon for twenty four hours. That means more books. I
• 1:17:27
  Speaker 8: don't even if you get anything that has a pamphlet
• 1:17:29
  Speaker 8: in it as instructions. I sold more books than everything
• 1:17:32
  Speaker 8: that existed in the planet twenty four hours. Compete with me, yep,
• 1:17:35
  Speaker 8: put out more stuff. Right, it's a party. Let's show
• 1:17:38
  Speaker 8: up to the party.
• 1:17:39
  Speaker 6: Everybody's invited.
• 1:17:40
  Speaker 3: Let's do it all right, gouys, thank you for rocking on.
• 1:17:42
  Speaker 3: We see you next week.
• 1:17:43
  Speaker 8: Peace please.
• 1:17:45
  Speaker 1: An illegal alien from Guatemala charged with raping a child
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  Speaker 1: filming and selling child pornography in Michigan. These are just
• 1:18:00
  Speaker 1: some of the heinous migrant criminals caught because of President
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