Latest / Money And Wealth With John Hope Bryant / The Blueprint for Black America

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The Blueprint for Black America · Money And Wealth With John Hope Bryant

• 0:00
  Speaker 1: Speaks to the planning.
• 0:01
  Speaker 2: I go by the name of Charlamagne the God, and
• 0:02
  Speaker 2: guess what, I can't wait to see y'all at the
• 0:04
  Speaker 2: third annual Black Effect Podcast Festival. That's right, We're coming
• 0:08
  Speaker 2: back to Atlanta, Georgia, Saturday, April twenty six at Poeman
• 0:11
  Speaker 2: Yards and it's hosted by none other than Decisions, Decisions Man,
• 0:15
  Speaker 2: D B and Wheezy. Okay, we got the R and
• 0:17
  Speaker 2: B Money podcast. We're taking Jay Valentine. You got the
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  Speaker 2: Woman of All podcasts with Saray Jake Roberts, we got
• 0:22
  Speaker 2: Good Mom, Bad Choices. Carrie Champion will be there with
• 0:25
  Speaker 2: her next sports podcast and the Trap Nerds podcast with
• 0:28
  Speaker 2: more to be announced. And of course it's bigger than podcasts.
• 0:31
  Speaker 2: We're bringing the Black Effect Marketplace with black owned businesses
• 0:34
  Speaker 2: plus the food truck court to keep you fed while
• 0:37
  Speaker 2: you visit us. All right, listen, you don't want to
• 0:39
  Speaker 2: miss this. Tap in and grab your tickets now at
• 0:42
  Speaker 2: Black Effect dot Com Slash Podcast Festival.
• 0:45
  Speaker 1: Welcome the Money in Wealth with John O'Bryant, a production
• 0:49
  Speaker 1: of the Black Effect Podcast Network and iHeartRadio. Yo Yo yo.
• 1:01
  Speaker 1: This is John ho'bryant and this is Money and Wealth,
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  Speaker 1: my podcast series every Thursday, new episodes on the Black
• 1:09
  Speaker 1: Effect Network, part of iHeartRadio. Honored to be with you.
• 1:16
  Speaker 1: But first of all, I thank you to you. I'm
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  Speaker 1: pleasantly surprised to say that this podcast series is now
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  Speaker 1: in the top thirty five. Last time I check for
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  Speaker 1: all entrepreneurship podcasts in the country and it's top five
• 1:34
  Speaker 1: percent of all podcasts nationwide. So thank you the listeners
• 1:38
  Speaker 1: and subscribers for confirming that this is content that you
• 1:43
  Speaker 1: value and you want to hear. Please tell your friends
• 1:46
  Speaker 1: to subscribe. This movement has just begun. You're part of
• 1:51
  Speaker 1: the aspiration generation. So let the freedom ring. On that point,
• 1:58
  Speaker 1: it's time to sing a new song. It's time for
• 2:01
  Speaker 1: us to get along. Is to move it along. Let's
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  Speaker 1: move a bold agenda, and I think I've got one
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  Speaker 1: for you here. So this week is dedicated to the
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  Speaker 1: economic business plan for all of us, starting with in
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  Speaker 1: this episode one, the blueprint for Black America and how
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  Speaker 1: that relates to you. So yes, I'm going to actually
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  Speaker 1: give you a business plan. You'll be to download it,
• 2:35
  Speaker 1: look at it, review it, mark it up, have a
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  Speaker 1: meeting in your barbershop or your nail salon, your fraternity
• 2:44
  Speaker 1: or a sorority meeting, your club, meeting, your family, meeting
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  Speaker 1: at your kitchen table. Debate it, discuss it, unpack it,
• 2:52
  Speaker 1: repack it with yourself and mind. Where did this come from?
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  Speaker 1: Let's start there now. I'll tell you what to get it,
• 2:58
  Speaker 1: and I'm going to walk you through it. I'm gonna
• 3:00
  Speaker 1: make it relating, relatable to you. I believe PhDs are good.
• 3:04
  Speaker 1: PhDs are good too, So I want to honor doctor
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  Speaker 1: King the fifty seventh anniversary of his assassination. The fifty
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  Speaker 1: seventh anniversary of the assassination of Doctor Martin the King
• 3:18
  Speaker 1: Junior was April fourth, nineteen sixty eight. He went to Memphis, Tennessee,
• 3:25
  Speaker 1: and I believe it was a setup, by the way
• 3:29
  Speaker 1: he had gone there and for peaceful march, and I
• 3:32
  Speaker 1: think some people intentionally made it unpeaceful, violent, so that
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  Speaker 1: he had to go back and prove himself. And when
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  Speaker 1: they went back, they were waiting for him. He was
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  Speaker 1: talking about money and had, by the way, included poor
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  Speaker 1: whites in his vision. That's the Poor People's Campaign. Special
• 3:52
  Speaker 1: hats off to Reverend Barber who's continuing that work to
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  Speaker 1: this day. And he didn't make it to his first mark.
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  Speaker 1: Doctor King would often say, I'm here to redeem the
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  Speaker 1: soul of America from the triple evils of war, racism,
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  Speaker 1: and poverty. He didn't hear say I'm here to say
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  Speaker 1: black people. He said, I'm here to redeem the soul
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  Speaker 1: of America from the triple evils of war, racism, and poverty.
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  Speaker 1: And he had pivoted finally did his work of poverty,
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  Speaker 1: poverty eradication on behalf, initially of the sanitation workers in Memphis, Tennessee,
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  Speaker 1: and they assassinated him. They assassinated him on April fourth,
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  Speaker 1: nineteen sixty eight, at six one pm. And on that
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  Speaker 1: balcony was my hero, my mentor, ambassador Andrew J. Young,
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  Speaker 1: who was there with him. On that day. They had
• 4:45
  Speaker 1: left Atlanta and it was storming there in Memphis. There
• 4:50
  Speaker 1: were tornado warnings and storm warnings. And when they took
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  Speaker 1: off and the night that he was supposed to speak
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  Speaker 1: at Mason Temple, there was a very bad storm and
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  Speaker 1: he was exhausted. He was trying to get some rests
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  Speaker 1: and his aides, doctor Young and Rob Abernathy another said
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  Speaker 1: you got to come. I think if Jesse Jackson was
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  Speaker 1: there as well, you've got to come. They want to
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  Speaker 1: hear from you anyway. That's why he gave the mountaintop speech.
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  Speaker 1: And he collapsed into the arms of his aides. It
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  Speaker 1: had never collapsed like that before. The next day, the
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  Speaker 1: sun came up and the son came out and they
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  Speaker 1: had a pillow fight, and Bassador Young told me in
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  Speaker 1: the Lorraine Motel, in the hotel room, it's as if
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  Speaker 1: doctor King had just given up to go, just given
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  Speaker 1: up his anxieties, and Ambassaty Young thinks he knew he
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  Speaker 1: was about to be assassinated and he was just free. Anyway.
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  Speaker 1: He walked on the balcony and that was it. And
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  Speaker 1: it just so happens that. And I want to thank
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  Speaker 1: doctor Bernice King, doctor King's daughter, CEO the King Center.
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  Speaker 1: I wouldn't have done this unless she blessed it. Who's
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  Speaker 1: a friend of mine. She serves on our global Board
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  Speaker 1: of Advisors. By the way, we have a partnership with her,
• 6:01
  Speaker 1: which is gets announced formally soon, but we've soft announced
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  Speaker 1: we're going to raise We're going to do things in
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  Speaker 1: one hundred cities to create bank accounts for kids. I'll
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  Speaker 1: get to that. It's part of the plan but she
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  Speaker 1: and I and Bastor Andrew Young at the invitation of
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  Speaker 1: Mayor Paul Young and Memphis went to Memphis last well,
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  Speaker 1: on yeah, last Friday, April fourth, nineteen twenty twenty five,
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  Speaker 1: on the fifty seventh anniversary to otto, Doctor King by
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  Speaker 1: talking about the Dream Forward and by the way, I
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  Speaker 1: went there. The day before it was storming, There was tornado.
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  Speaker 1: Warnings went into the same terminal Doctor King flew into
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  Speaker 1: and the next day the sun came out and Brees
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  Speaker 1: King thinks that that's her Dad signally giving us agency
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  Speaker 1: that this work does in fact continue. So let's talk
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  Speaker 1: about the work. We had this Dream Forward event, an
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  Speaker 1: incredible group of heroes and heroes. We had twenty thousand
• 7:04
  Speaker 1: folks streaming watching, you know, streaming live. You can go
• 7:07
  Speaker 1: back to dream Forward, go to Operational website and go
• 7:10
  Speaker 1: to dream Forward, or just search dream Forward for Operation
• 7:13
  Speaker 1: Hope or dream Forward and Doctor King. Search any of
• 7:17
  Speaker 1: those combinations, it'll come up. Watch the nearly three hour
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  Speaker 1: program if you liked. Some of your most amazing heroes
• 7:26
  Speaker 1: and she roes were part of that. My friend Charlemagne,
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  Speaker 1: who inspired me to do this podcast, who is the
• 7:32
  Speaker 1: majority owner of the Black Effect Network, where I also
• 7:34
  Speaker 1: serve on the board. My brother Roland Martin, who is fantastic,
• 7:39
  Speaker 1: really needled me and pushed me to do that event
• 7:43
  Speaker 1: and in some ways to dig into this business plan today.
• 7:47
  Speaker 1: So I want to give him some credit. It was
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  Speaker 1: an extraordinary day with leaders from all around the world.
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  Speaker 1: The biggest billionaire in Africa in technology Stride my se,
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  Speaker 1: the only the Latino billionaire I believe in the US,
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  Speaker 1: Alex Rodriguez, I mean, just the big the only CEO
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  Speaker 1: of an investment bank on Wall Street, President of the Bank,
• 8:11
  Speaker 1: President of Lazard, Ray McGuire, just just Ballers, Bishop T. D. Jakes,
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  Speaker 1: Killer Mike Charlemagne, Bastor, Andrew Young, Mayor Andre Dickens, I mean,
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  Speaker 1: just made one hundred delegates. You would have been so proud. Anyway,
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  Speaker 1: go check it out and you can download this plan
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  Speaker 1: right now. So go to dream Ford, go to Operation Hope.
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  Speaker 1: Find the plan for Black America. There are several plans,
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  Speaker 1: by the way out unpack each of them in the series.
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  Speaker 1: There's a Latino plan as a women's plan. There's a
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  Speaker 1: business plan for Native American Indians. There's one for rural
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  Speaker 1: rural America. Uh, there's one for women, there's one for
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  Speaker 1: Asian Americans. This is a new business plan for America.
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  Speaker 1: That's how you grow the pie for everybody. But we're
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  Speaker 1: going to get into today the business plan for Black America.
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  Speaker 1: And why are we starting with Black America. One is
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  Speaker 1: this book effect network podcasts network. But two it's the
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  Speaker 1: group at the bottom of the economic pyramid, the only
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  Speaker 1: group enslaved in America, soil. I think it makes perfect
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  Speaker 1: sense that we start with Black America. So if you
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  Speaker 1: if you're talking to somebody and they've got limited time,
• 9:26
  Speaker 1: they say, I want to listen to this is so much,
• 9:29
  Speaker 1: this is great. Where do I start? Just telling me
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  Speaker 1: to go to minute ten of the podcast today and
• 9:34
  Speaker 1: they can get into it. And you should probably watch
• 9:38
  Speaker 1: this and listen to this over and over and over again.
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  Speaker 1: Here we go, the Blueprint for Black America, the Economic
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  Speaker 1: Blueprint for Black America. Back Black America, the Economic business
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  Speaker 1: Plan for Black America. Here's a preamble. We're going to
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  Speaker 1: be bold. We will not wait for permission. You know,
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  Speaker 1: I'm not going to read this whole plan, by the way,
• 9:59
  Speaker 1: don't worry about it, summarize it, and then get into
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  Speaker 1: the details of it. We will not wait for systemic
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  Speaker 1: change to come from the outside. In other words, you're
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  Speaker 1: not going to just wait for the government or anybody
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  Speaker 1: else to solve your problems in any waysment, if anything,
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  Speaker 1: the government has signaled to you in many ways that
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  Speaker 1: you are increasingly on your own. But forty percent of
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  Speaker 1: this plan, maybe more, but at least forty percent of
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  Speaker 1: the plan I'm about to give you doesn't require the government.
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  Speaker 1: Can I get a man on that. That's to me inspiring.
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  Speaker 1: You can do this on your own. I'd rather teach
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  Speaker 1: you how to fish than have you rely on somebody
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  Speaker 1: give you some fish. I believe in the James Brown
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  Speaker 1: version of affirmative action. Open the door, get it my
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  Speaker 1: dang self. Okay. We will build, invest and own, leveraging
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  Speaker 1: every tool at our disposal, financial literacy, entrepreneurship, home ownership,
• 10:53
  Speaker 1: artificial intelligence, and capital access. We will not talk you
• 10:57
  Speaker 1: to death. We will not deliberate to the hills. Come home.
• 11:01
  Speaker 1: We will not enable gays and admire the problem. One
• 11:03
  Speaker 1: of the things that my brother Rolling is frustrated with
• 11:05
  Speaker 1: is that people just talking, talking, talking and not doing
• 11:08
  Speaker 1: doing doing. I do believe there's a need after four
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  Speaker 1: hundred years of oppression, two hundred and seventy years of slavery,
• 11:15
  Speaker 1: one hundred years of Jim Crowell. Within those numbers, I
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  Speaker 1: do think we need to be reprogrammed. I really do.
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  Speaker 1: I do believe that a lot of us are depressed. Distressed,
• 11:23
  Speaker 1: we don't believe anymore we have a surviving mindset and
• 11:25
  Speaker 1: a thriving building world. I do believe discussions matter. He's
• 11:30
  Speaker 1: a little frustrated with just discussions. I get it, but
• 11:33
  Speaker 1: I think we've got two things can be true at
• 11:34
  Speaker 1: the same time. We've got to talk about it and
• 11:36
  Speaker 1: then be about it. There's been too much talking about
• 11:39
  Speaker 1: it and there's not enough being about it. And I
• 11:41
  Speaker 1: think one of the reasons that people are not being
• 11:43
  Speaker 1: about it, as somebody who's a CEO who has a
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  Speaker 1: payroll of seven figures every two weeks from my employees,
• 11:49
  Speaker 1: one of the biggest employers, who happens to be black
• 11:51
  Speaker 1: in the country, I think that. I think just our
• 11:55
  Speaker 1: people don't really know what to do. I think that
• 11:57
  Speaker 1: people don't mean well. They we understand civil we don't
• 12:00
  Speaker 1: understand SILVI rights. We understand the protesting in the streets
• 12:04
  Speaker 1: and what that takes, but we we necessarily understand how
• 12:06
  Speaker 1: to cut that big business deal in the suites. We're
• 12:08
  Speaker 1: not dumb and we're not stupid. Is what we don't
• 12:10
  Speaker 1: know that we don't know this killing is what we
• 12:11
  Speaker 1: think we know. And people presume that we should know.
• 12:14
  Speaker 1: And I'm not sure why they should presume we should know.
• 12:16
  Speaker 1: No one gave us the memo. That's my fourth book,
• 12:19
  Speaker 1: my last book, Financial Literacy for All you should pick up,
• 12:21
  Speaker 1: is the national bestseller for the last year, number one,
• 12:24
  Speaker 1: number one in fact, the hardcover and the paperback are
• 12:27
  Speaker 1: now number one and number two in business finance. And
• 12:30
  Speaker 1: I believe in economics. So I'm trying to frame this
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  Speaker 1: out for you, give you, put it where you can
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  Speaker 1: reach it, and then operationalize in your life. So we're
• 12:40
  Speaker 1: going to talk at about the large plan. Then we're
• 12:42
  Speaker 1: going to give you your own personal plan. Go to
• 12:44
  Speaker 1: the part of this podcast that applies to what you
• 12:47
  Speaker 1: want to do. After you listen to it once, listen
• 12:50
  Speaker 1: to it again, get your friends and listen to it.
• 12:51
  Speaker 1: Listen to it in groups, pick it apart, put it
• 12:54
  Speaker 1: back together, take the piece that applies to you and
• 12:57
  Speaker 1: move on that piece. And when you want me to
• 12:59
  Speaker 1: break it down and more detail, come back and tell
• 13:01
  Speaker 1: me in comments on one of the social media platforms
• 13:03
  Speaker 1: where you assume you're following me already. We will move
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  Speaker 1: Black America from a projected zero networth by twenty fifty three.
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  Speaker 1: That's an accurate estimation. By the way, the projected network
• 13:17
  Speaker 1: for Black America by twenty fifty three is zero. If
• 13:20
  Speaker 1: we do nothing but what we're doing right now, our
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  Speaker 1: net worth is projected to be zero. That shit gets
• 13:24
  Speaker 1: your attention. We will move Black America from a projected
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  Speaker 1: net worth of zero by twenty fifty three to three
• 13:30
  Speaker 1: point five trillion dollars by twenty fifty three by our
• 13:35
  Speaker 1: own hands, through intentional strategy and economic power. This meeting
• 13:41
  Speaker 1: we just had was had at the Lorraine Motel at
• 13:44
  Speaker 1: the Civil Rights Museum in Memphis. This historic meeting of
• 13:49
  Speaker 1: one hundred founding delegates and twenty speakers, and the King
• 13:53
  Speaker 1: family and the Young family and the Mayor of Memphis.
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  Speaker 1: It was about self determination and dignity, because if we
• 13:59
  Speaker 1: don't on a line first, how can we build partnerships
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  Speaker 1: that serve us. Here's the twenty twenty five to twenty
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  Speaker 1: to thirty goals for the business plan. Number one home
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  Speaker 1: ownership expansion, what's the target increase Black home ownership from
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  Speaker 1: forty two percent where it is today, give or take
• 14:17
  Speaker 1: to sixty percent by twenty thirty. White home ownership is
• 14:21
  Speaker 1: seventy five percent on average. Why is home ownership for
• 14:25
  Speaker 1: white so high? Because they realize that the US tax
• 14:28
  Speaker 1: policy is designed around home ownership. They write off the
• 14:33
  Speaker 1: mortgage payment. You write off you can't write off rent.
• 14:36
  Speaker 1: You write off the depreciation. You get credit for that.
• 14:40
  Speaker 1: You get the benefit of appreciation. When the house goes
• 14:44
  Speaker 1: up in value, that's yours property taxes. You get credit
• 14:49
  Speaker 1: for that. The entire experience around home ownership is embedded
• 14:57
  Speaker 1: in aspirational economic growth, in wealth creation. Number one way
• 15:01
  Speaker 1: you build wealth in America is home ownership. I always
• 15:04
  Speaker 1: fast and fascinated when I want these TV shows, and
• 15:07
  Speaker 1: some wealthy dude will tell you not to buy a home,
• 15:10
  Speaker 1: not to own a home. It's a stupid decision, he
• 15:12
  Speaker 1: will say, typically a man. And I'm sitting there wondering,
• 15:16
  Speaker 1: why the heck are you telling folks, poor folks and
• 15:18
  Speaker 1: struggling folks and middle class folks. Why is you telling
• 15:21
  Speaker 1: them not to own a home. When you own a home,
• 15:24
  Speaker 1: you might own two or three Because maybe they want
• 15:28
  Speaker 1: you to rent for life. I'm a landlord. I own homes,
• 15:32
  Speaker 1: I own property. I used to own the Promise Homes Company.
• 15:34
  Speaker 1: I built it and sold majority of it in twenty
• 15:36
  Speaker 1: twenty one Christmas Eve for a record one hundred and
• 15:39
  Speaker 1: twenty one million dollars. Transaction businesses are built to be sold,
• 15:44
  Speaker 1: to be monetized, by the way. But I'm building, and
• 15:48
  Speaker 1: I'm building some more businesses that you'll be hearing about
• 15:51
  Speaker 1: soon in real estate. And so, I like being a landlord,
• 15:55
  Speaker 1: and I love you renting from me, But I want
• 15:57
  Speaker 1: you to go from rent to own. I want you
• 15:59
  Speaker 1: to move up and I want you to become an owner.
• 16:01
  Speaker 1: But some people want you to rent for life. They
• 16:04
  Speaker 1: want you to rent your RV, rent your car, rent
• 16:07
  Speaker 1: your dreams, your rent the roof over your head. They
• 16:11
  Speaker 1: would love to have convince everybody this generation, chill, You
• 16:14
  Speaker 1: don't need to own anything. Just have fun, just enjoy yourself.
• 16:17
  Speaker 1: Just chill. We'll take care of the details. Yeah, what
• 16:21
  Speaker 1: was that called sharecrob and back in the day. So
• 16:34
  Speaker 1: here's your strategy. There are affordable lending programs, new down
• 16:38
  Speaker 1: payment assistance programs, and community land trusts that can help you.
• 16:43
  Speaker 1: Operation of Hope can help you. The organization that I've
• 16:45
  Speaker 1: founded can help you become a homeowner. We have facilitated
• 16:48
  Speaker 1: four point five billion dollars in home ownership assistance and
• 16:53
  Speaker 1: small business assistance, access to credit, access to capital through banks,
• 16:59
  Speaker 1: mostly at prime rates. We have fifteen hundred offices in
• 17:03
  Speaker 1: forty two states and three hundred plus cities that are
• 17:06
  Speaker 1: all there to help you. And because of my seventy
• 17:09
  Speaker 1: million dollars annual budget that is funded through a range
• 17:12
  Speaker 1: of sustainable donors and partners, that service is free of
• 17:17
  Speaker 1: cost to you. You get one thousand dollars scholarship for
• 17:19
  Speaker 1: financial coaching and counseling to get your credit score up,
• 17:22
  Speaker 1: your debt down, your savings up, so that the bank
• 17:25
  Speaker 1: can say, yes, we get the bank out of the
• 17:27
  Speaker 1: no business, sorry you declined for credit, back into the
• 17:30
  Speaker 1: yes business. In fact, we're the only nonprofit in the
• 17:32
  Speaker 1: history of the US ever allowed to operate inside of
• 17:35
  Speaker 1: a bank branch in you as history. So home ownership
• 17:41
  Speaker 1: and I'm going to come back, hopefully with some strategies
• 17:43
  Speaker 1: here in a minute to get a little deeper. But
• 17:44
  Speaker 1: let me finish with the rest of the plan. Entrepreneur
• 17:47
  Speaker 1: Number two Entrepreneurship and Small Business Growth Target, double the
• 17:50
  Speaker 1: number of black owned businesses. Again, I want you to
• 17:52
  Speaker 1: print this report out, write down the notes what I'm saying,
• 17:55
  Speaker 1: Print the report out, share it with your friends, email it,
• 17:58
  Speaker 1: text it, talk about it, print it out, put you know,
• 18:01
  Speaker 1: put it on your wall. As a dream part of
• 18:03
  Speaker 1: a dream board, create a create a business plan, create
• 18:05
  Speaker 1: a mind map for it, mind mapping software. And I
• 18:08
  Speaker 1: want you to reverse engineer yourself it. Create your part
• 18:12
  Speaker 1: of this plan and reverse engineer yourself into this reality.
• 18:16
  Speaker 1: And watch you hang around, have all your friends be
• 18:18
  Speaker 1: about what you're about, because if you hang around nine
• 18:21
  Speaker 1: bro people, you'll be the tenth and they're not about
• 18:24
  Speaker 1: doing something. You need to move on. You cannot take
• 18:26
  Speaker 1: everybody with you. Yes, I said it. Number two Entrepreneurship
• 18:31
  Speaker 1: and Small Business Growth Target, double the number of black
• 18:34
  Speaker 1: owned businesses in their revenue by twenty thirty. And by
• 18:38
  Speaker 1: the way, ninety six percent of all black businesses don't
• 18:41
  Speaker 1: have an employee, so they're not really businesses or self
• 18:44
  Speaker 1: employment projects. You've heard me say this before. You make
• 18:47
  Speaker 1: money during the day. You build wealth in your sleep,
• 18:50
  Speaker 1: compounding it, stocks its bonds. It's investments, it's home ownership,
• 18:54
  Speaker 1: it's real estate, it's business, it's education that compounds. Right,
• 18:58
  Speaker 1: Employees help you compound because now you're not just doing
• 19:01
  Speaker 1: all the work and moving paper from one into the
• 19:04
  Speaker 1: desk to the other and handling a contract by yourself
• 19:06
  Speaker 1: and just basically living them is just making a living
• 19:09
  Speaker 1: through a business that is really just a self employment project.
• 19:12
  Speaker 1: But if you have two or three employees, you're leveraging
• 19:14
  Speaker 1: yourself and they're helping you to create revenue and fulfilled
• 19:18
  Speaker 1: contracts that you can't do on your own. So we
• 19:20
  Speaker 1: need more than just a sole proprietorship. Right. Here's some
• 19:25
  Speaker 1: good news, by the way, seventy percent of all businesses
• 19:27
  Speaker 1: in America being started by minorities and women, but only
• 19:30
  Speaker 1: five percent of venture capital goes to minority in women businesses.
• 19:34
  Speaker 1: I'm seeing this as an opportunity, not just a problem.
• 19:36
  Speaker 1: And I want Silicon Valley in Wall Street to listen
• 19:41
  Speaker 1: to this podcast and see this as an economic opportunity.
• 19:45
  Speaker 1: No one's asking you for a handout. We're talking about
• 19:47
  Speaker 1: a hand up. We're talking about emerging markets. That's why
• 19:50
  Speaker 1: I call it inclusive economics. I'm not talking about some
• 19:53
  Speaker 1: giveaway program. I'm not going to give you a three
• 19:55
  Speaker 1: initial program you need to support. I could care less
• 19:57
  Speaker 1: about that stuff. I'm talking about the color green in
• 19:59
  Speaker 1: the US at LEAD, but it's the color of your
• 20:01
  Speaker 1: currency wherever you are in the world listening to this podcast.
• 20:04
  Speaker 1: We are an emerging market. We are viable, and we
• 20:07
  Speaker 1: want to be taken seriously. Can I get an amen?
• 20:10
  Speaker 1: So double the number of black businesses by twenty thirty,
• 20:13
  Speaker 1: I'm sorry, in their revenues strategy expand black owned adventure capital,
• 20:19
  Speaker 1: increase procurement contracts. This is a vent vendor contracts with businesses,
• 20:25
  Speaker 1: corporations to the government at city, state, federal, county. It's
• 20:28
  Speaker 1: not just a federal government talking about you know, most GDP,
• 20:31
  Speaker 1: most gross domestic products, most of the economics for this
• 20:35
  Speaker 1: country come from cities, not from the federal government. Stop
• 20:38
  Speaker 1: obsessing about what Washington DC is doing exclusively. Right, most
• 20:42
  Speaker 1: of the wealth is in the economy, not in Washington
• 20:45
  Speaker 1: d C. So again, what Malcolm Kes say, You've been bamboozooed,
• 20:47
  Speaker 1: you've been tricked, you've been food, you've been hoodwinked, like
• 20:50
  Speaker 1: knock at all, focus on your goals. That's why I
• 20:53
  Speaker 1: want you to create a mind map, and a pinterist
• 20:55
  Speaker 1: board and a dream board based on this business plan
• 20:58
  Speaker 1: for your life, established one hundred billion dollar funding pipeline.
• 21:03
  Speaker 1: I want us to expect to create a pipeline of
• 21:07
  Speaker 1: viable black businesses, CDFI funds, community development financial institutions, minority
• 21:14
  Speaker 1: owned banks, venture capital funds, investment banks, both the ones
• 21:18
  Speaker 1: that we control and those who wanted to access as
• 21:20
  Speaker 1: a market. They should be a total of one hundred
• 21:22
  Speaker 1: billion dollars worth of activity that we put in a
• 21:25
  Speaker 1: pipeline for future funding between now and twenty twenty eight,
• 21:29
  Speaker 1: twenty twenty nine, that funds by twenty thirty, probably twenty
• 21:33
  Speaker 1: twenty eight strategies strengthen black business ownership and job creation.
• 21:38
  Speaker 1: That's one of the things that we're doing with one
• 21:41
  Speaker 1: MBB one million Black Business Initiative at Operation Hope, where
• 21:44
  Speaker 1: we partner with Shopify. We put up one hundred and
• 21:47
  Speaker 1: thirty million dollars and then later on came back was
• 21:50
  Speaker 1: so successful put up another sixty million dollars in last
• 21:55
  Speaker 1: December for a total of one hundred and ninety million
• 21:57
  Speaker 1: dollars with Operation Hope. Because they've already helped create nurture, support,
• 22:01
  Speaker 1: advanced four hundred and fifty thousand black businesses. There's only
• 22:03
  Speaker 1: three point one million black businesses in America. Think about
• 22:06
  Speaker 1: those numbers. This is just Operation Hope. Just us. Imagine
• 22:10
  Speaker 1: if other folks align with us with this business plan.
• 22:14
  Speaker 1: And by the way, when we give credit to an
• 22:15
  Speaker 1: Emory University their economics department and Cloke Atlanta University, where
• 22:20
  Speaker 1: are serving the board and their business school, who's agreed
• 22:22
  Speaker 1: to backstop to be the quarterback for these for this
• 22:25
  Speaker 1: business plan and others as we grow it, a hull
• 22:28
  Speaker 1: around it, nurture it, refine it, as we then announce
• 22:32
  Speaker 1: their final plans at the Hope Global Form later this year. So,
• 22:36
  Speaker 1: if you want to be part of this activity, go
• 22:38
  Speaker 1: to Operation Hope website, make a Hope commitment and say
• 22:41
  Speaker 1: I want to do a version of this plan for Knoxville, Kentucky,
• 22:45
  Speaker 1: version of this plan for Los Angeles, version of this
• 22:47
  Speaker 1: plan for Inglewood, California, version of this plan for Columbus, Georgia.
• 22:52
  Speaker 1: You can make a Hope commitment and decide that you
• 22:54
  Speaker 1: want to take the framework with this plan and make
• 22:56
  Speaker 1: it applicable to your family, to your street, to your community,
• 23:01
  Speaker 1: to your neighborhood, to your city. Right, you need to
• 23:04
  Speaker 1: wait for the mayor, the governor, the president. Do it yourself,
• 23:06
  Speaker 1: and we'll help you. We'll give you the tool you
• 23:08
  Speaker 1: make a hope commitment, we'll give you the tools. I've
• 23:10
  Speaker 1: already started by giving this downloadable business plan, and then
• 23:14
  Speaker 1: we're going to help you to work on your own
• 23:16
  Speaker 1: plan and your community and then execute it with the
• 23:19
  Speaker 1: tools that we have, and we're going to help increasingly
• 23:21
  Speaker 1: make available to you. All of them available, will be
• 23:24
  Speaker 1: downloadable increasingly on the operational website and our partners, because
• 23:27
  Speaker 1: we're not trying to own this is open source empowerment.
• 23:30
  Speaker 1: Are you excited yet? I am not only at number two,
• 23:34
  Speaker 1: number three AI and skilled workforce development, okay, artificial intelligence.
• 23:41
  Speaker 1: I think that there's two issues that are civil rights
• 23:43
  Speaker 1: and civil rights issues right now. Our financial literacy is
• 23:47
  Speaker 1: a civil rights issue of this generation is as important
• 23:50
  Speaker 1: as the right to vote. And AI literacy is the
• 23:53
  Speaker 1: civil rights issue SI l v E er issue of
• 23:57
  Speaker 1: this generation from protesting in the street with civil rights traditionally,
• 24:02
  Speaker 1: we now have a march on capital with capital right,
• 24:06
  Speaker 1: in other words, partner with capital in the business suites,
• 24:08
  Speaker 1: cutting deals in the business suites with civil rights We
• 24:11
  Speaker 1: need to do deals in the suites, not just protests
• 24:15
  Speaker 1: on the streets. But in order to live a life
• 24:18
  Speaker 1: on the streets, you need your financial literacy. But AI
• 24:22
  Speaker 1: literacy train target train one million Black individuals in artificial
• 24:26
  Speaker 1: intelligence and digital skills by twenty thirty. That's why we
• 24:29
  Speaker 1: have the AI LP three here in Atlanta and the aiths,
• 24:33
  Speaker 1: the Artificial Intelligence AI Ethics Council. Now I'm co chairing
• 24:36
  Speaker 1: with Sam Audman, and we've worked. We partner with Georgia
• 24:39
  Speaker 1: State University here in Georgia and others Morehouse College and
• 24:44
  Speaker 1: Clark Atland University and Georgia Tech. Soon gets announced around
• 24:49
  Speaker 1: the AI LP three, which is a pipelined prosperity in
• 24:52
  Speaker 1: Atlanta public schools with doctor Johnson and Mayor Andrea Dickens
• 24:55
  Speaker 1: to create a pipeline of artificial intelligence new leaders, job
• 24:59
  Speaker 1: create and innovators and business creators from kindergarten all the
• 25:03
  Speaker 1: way through middle school, high school and college. Don't just
• 25:07
  Speaker 1: wait for folks to destroy your jobs. Create. Um that's
• 25:09
  Speaker 1: AILP three again. You can look that up on the
• 25:12
  Speaker 1: internet or go to our website for more information. AI
• 25:14
  Speaker 1: Ethics Council AI LP three project underneath that or you
• 25:19
  Speaker 1: create your own project again, make a whole commitment in
• 25:21
  Speaker 1: your neighborhood will help you to operationalize it with some encouragement.
• 25:25
  Speaker 1: Train one million Black individuals and AI and digital skills
• 25:27
  Speaker 1: by twenty thirty. Strategies AI Literacy Pipeline AILP three is
• 25:32
  Speaker 1: a model tech apprenticeships and corporate AI hiring partnerships. Think
• 25:37
  Speaker 1: about this. Everything's going to change. Artificials tell Us is
• 25:40
  Speaker 1: going to change everything by twenty thirty. Everything everything you're
• 25:44
  Speaker 1: looking at, everything you're seeing, your desk, your furniture, your technology,
• 25:49
  Speaker 1: your car, I mean they'll be self driving cars, the jobs,
• 25:55
  Speaker 1: every occupation you can think of. Healthcare, you go to
• 25:58
  Speaker 1: the mall today, you go to the or the airport,
• 26:01
  Speaker 1: or go to a CVS or a Walgreen store or
• 26:03
  Speaker 1: grocery store, and you're doing self checkout with the pad
• 26:07
  Speaker 1: and punching it in yourself. You should be somebody walking,
• 26:09
  Speaker 1: sitting and standing there doing the physical situation. That's artificial intelligence,
• 26:13
  Speaker 1: robotics and computing. All right, That's that's the future right
• 26:17
  Speaker 1: in front of you. So everything's going to change. I
• 26:20
  Speaker 1: want you to be part of that change impact. And
• 26:23
  Speaker 1: sure Black America is positioned in the AI driven economy
• 26:27
  Speaker 1: for financial literacy and wealth creation target increase black wealth.
• 26:32
  Speaker 1: Black credit scores be to an average of seven hundred
• 26:34
  Speaker 1: nationwide right now, the average credit score for African Americans
• 26:38
  Speaker 1: is about six twenty, which means that in that neighborhood,
• 26:42
  Speaker 1: pooking them got a credit score of four hundred to
• 26:43
  Speaker 1: five hundred. We all know who pookying nim is, and
• 26:46
  Speaker 1: somebody else is a credit score maybe you of seven
• 26:49
  Speaker 1: forty seven to fifty, maybe even eight hundred, and there's
• 26:51
  Speaker 1: a few with seven fifty eight hundred, but that's being
• 26:55
  Speaker 1: drugged down as an average by those who have four
• 26:57
  Speaker 1: and five hundred, who credit scores who are numerous. The
• 27:01
  Speaker 1: average actually is six to twenty, which is still bad.
• 27:04
  Speaker 1: If you have a six to twenty credit score. If
• 27:06
  Speaker 1: the average credit score for African Americans is six twenty,
• 27:08
  Speaker 1: that means that half of us wake up locked out
• 27:11
  Speaker 1: of the free enterprise system every morning. So we're sitting
• 27:13
  Speaker 1: here talking about police brutality and racism and bias, all
• 27:19
  Speaker 1: of which is important. We're talking about we're obsessing about Washington,
• 27:22
  Speaker 1: DC and this new president, really important stuff, but we
• 27:27
  Speaker 1: can't control most of that. But you can control your
• 27:30
  Speaker 1: credit score, and if you haven't checked your credit score,
• 27:34
  Speaker 1: there's probably an error on your credit score. And we
• 27:37
  Speaker 1: have shown an Operation to Hope that that eighty percent
• 27:39
  Speaker 1: of the time when there's an error or more. When
• 27:41
  Speaker 1: we challenge that to the credit bureaus, which are three
• 27:44
  Speaker 1: credit bureaus, Experience, TransUnion, and Equifacts, the law states silver rights.
• 27:48
  Speaker 1: The law states that if they can't confirm that's you
• 27:51
  Speaker 1: within thirty days and remove it, I'm sorry, thirty days
• 27:54
  Speaker 1: they've confirmed you, they must remove it. Did you hear me?
• 27:57
  Speaker 1: They can't confirm that that's you within thirty days, must
• 28:00
  Speaker 1: remove it. And so when my team at Operation Hope,
• 28:03
  Speaker 1: the whole financial coaches challenge the credit bureaus, many of
• 28:06
  Speaker 1: which are our partners by the way, and say is
• 28:08
  Speaker 1: this Joe and Er? Is this Jacks? And they say, well,
• 28:10
  Speaker 1: we can't confirm that on day twenty eight, thirty, day
• 28:12
  Speaker 1: thirty wherever, they must remove it. That pops your credit
• 28:15
  Speaker 1: score twenty to thirty points. So if you're at five eighty,
• 28:18
  Speaker 1: you're now at six ten. Hello, can I get an
• 28:20
  Speaker 1: a man? Think about what that does your self esteem
• 28:22
  Speaker 1: and your confidence? You now joined a whole new club.
• 28:26
  Speaker 1: So we're raising credit scores fifty four points in six months,
• 28:29
  Speaker 1: one hundred and twenty points and twenty four months. Nothing
• 28:32
  Speaker 1: changes your life more than God or love than moving
• 28:34
  Speaker 1: your credit score one hundred and twenty points. Why is
• 28:38
  Speaker 1: this important? This is a big one. And but again,
• 28:41
  Speaker 1: you do this on your own. We can do this
• 28:42
  Speaker 1: on our own. In fact, Operation Hope may end up
• 28:45
  Speaker 1: if we get really really organized around this, because I
• 28:48
  Speaker 1: want to become the Starbucks of financial inclusion, the Walmart
• 28:50
  Speaker 1: of financial literacy. All across this country. Wherever you go
• 28:53
  Speaker 1: there's Operation Hope. We do this really well and we
• 28:56
  Speaker 1: move credit scores. I mean, we can probably do fifteen
• 28:58
  Speaker 1: to twenty percent of this work, maybe even more than
• 29:00
  Speaker 1: that by ourselves. This piece, this one piece, is something
• 29:03
  Speaker 1: we can obsess about. We have a Hope Financial Literacy Index,
• 29:06
  Speaker 1: a Hope Financial Wellness Index on the oppertional website. Go
• 29:09
  Speaker 1: to it. You put your zip code in, I'll tell
• 29:11
  Speaker 1: you your credit score, I'll tell you how you live it.
• 29:14
  Speaker 1: If you live in the hood or the hood, as
• 29:16
  Speaker 1: we say, we all know, I'm talking about whether you're
• 29:18
  Speaker 1: black and brown, urban or white, poor rural. You know,
• 29:22
  Speaker 1: what we see is a check casher next to a
• 29:25
  Speaker 1: patialon lender, next to a rental owned store, next to
• 29:28
  Speaker 1: a title lender, next to a liquor store, next to
• 29:31
  Speaker 1: a pawnshop, and a church down the street trying to
• 29:34
  Speaker 1: make you feel a little bit better once a week.
• 29:35
  Speaker 1: That's a neighborhood therapist. Make sure you don't go Craig Grey. Right.
• 29:40
  Speaker 1: And if you're behind around a military base, at the
• 29:44
  Speaker 1: interest of that military base, there's all those predators position
• 29:47
  Speaker 1: because they know the military. If you're in the military,
• 29:50
  Speaker 1: you cannot be in financial distress and keep your security clearance.
• 29:55
  Speaker 1: Did you know that? So they prey on on the military.
• 30:01
  Speaker 1: So it's not a color thing as in racial they
• 30:03
  Speaker 1: pray on poor whites, they pray on poor blacks equally.
• 30:07
  Speaker 1: It's not racial, right, It's not racial first. And by
• 30:12
  Speaker 1: the way, if this issue was just racial, you wouldn't
• 30:14
  Speaker 1: have poor whites, only have rich whites and wealthy whites.
• 30:19
  Speaker 1: But there are more poor whites than poor anybody else
• 30:21
  Speaker 1: because there is a game to the game. Hello. The
• 30:25
  Speaker 1: number one group dying in America are high school educated
• 30:29
  Speaker 1: white men, lost aspiration, lost agency, and depression, which is
• 30:32
  Speaker 1: why it's opioid addiction they're drowning themselves and trying to
• 30:36
  Speaker 1: in drugs and whatever, trying to forget about their problems.
• 30:39
  Speaker 1: But whether you're black, African American, whether you're Native American Indian,
• 30:43
  Speaker 1: or whether you're poor white, you didn't get the memo.
• 30:45
  Speaker 1: I'm trying to deliver this memo to you. I'm trying
• 30:48
  Speaker 1: to remove the haze and replace it with a plan.
• 30:52
  Speaker 1: So raising your credit scory is the low hanging fruit here.
• 30:57
  Speaker 1: My team will do it for you. Will give you
• 30:59
  Speaker 1: a thousand dollars coaching scholarship. Just tell them I sent you.
• 31:02
  Speaker 1: Go online and the download the Hope and Hand app
• 31:04
  Speaker 1: on the Apple Store or the Android store, and or
• 31:10
  Speaker 1: call my team on a one eight hundred number, or
• 31:12
  Speaker 1: go to Operationhope dot org and tell them that John
• 31:15
  Speaker 1: O'Brien sent you. They'll give you one thousand dollars coaching
• 31:17
  Speaker 1: scholarship for financial coaching that'll last a year, and they
• 31:21
  Speaker 1: will work with you to get you bank qualified for
• 31:24
  Speaker 1: prime credit. Prime credit. Right, and let me tell you
• 31:28
  Speaker 1: why this is so important and let me just finish this.
• 31:30
  Speaker 1: The strategies for this, Okay, strategies financial education, debt reduction programs,
• 31:35
  Speaker 1: capital access expansion, what's the impact strength and economic resiliency
• 31:39
  Speaker 1: and investment capacity. Now, somebody might be saying, by now,
• 31:44
  Speaker 1: all right, John's talking big, big words and all this stuff.
• 31:46
  Speaker 1: He's all right, went through four parts of this plan,
• 31:49
  Speaker 1: and I still don't understand how this relates to me. Well,
• 31:51
  Speaker 1: like he said, were gonna have a network by zero
• 31:54
  Speaker 1: by twenty fifty three. Why wouldn't I just wait for
• 31:57
  Speaker 1: the government. You know, I'll wait out the president. Government's
• 32:01
  Speaker 1: going to help me? Really, is that right? Okay, let's
• 32:04
  Speaker 1: look at that. I understood the government. We needed the
• 32:07
  Speaker 1: government after slavery for obvious reasons. Freedom. I understood we
• 32:10
  Speaker 1: needed the government during the civil rights movement. Clearly we
• 32:14
  Speaker 1: didn't have rights of a human being, no right to vote,
• 32:17
  Speaker 1: access to a water found in nineteen sixty like it's crazy, right. Women,
• 32:23
  Speaker 1: by the way, in nineteen seventy two could not open
• 32:25
  Speaker 1: a bank account by themselves, could not get a loanless
• 32:28
  Speaker 1: or husband co signed it. Not eighteen seventy two, nineteen
• 32:32
  Speaker 1: seventy two. White women too, by the way, That's why
• 32:36
  Speaker 1: when they didn't want to give us a further action
• 32:37
  Speaker 1: in the sixties, they allowed white women to take advantage
• 32:40
  Speaker 1: of that but that's another conversation for another time, and
• 32:42
  Speaker 1: I don't mind that. That's cool, But I'm just telling
• 32:44
  Speaker 1: you how this situation. There's a reason we got here,
• 32:46
  Speaker 1: and there's a whole series I'm going to be doing
• 32:48
  Speaker 1: about solving six thousand years of economic frustration for Black
• 32:52
  Speaker 1: America in six years. This is part of that series.
• 32:56
  Speaker 1: It's one of the anchors that I'm going to start.
• 32:58
  Speaker 1: I'm going to unpack six thousand years of fresh and
• 33:01
  Speaker 1: tell you how we got here. How do we get
• 33:03
  Speaker 1: to this point where we're brilliant and amazing, but we
• 33:06
  Speaker 1: are lagging in economic and financial wealth, health, and opportunity.
• 33:10
  Speaker 1: I'm going to unpack it for you and repack the
• 33:12
  Speaker 1: solution with you and mine. Can I get an amen?
• 33:16
  Speaker 1: I'm so excited about this, but let me stay focused
• 33:18
  Speaker 1: and I want to get you get a lot of
• 33:20
  Speaker 1: power in this first podcast. You don't me know whether
• 33:22
  Speaker 1: you liked this, by the way, let me tell you.
• 33:23
  Speaker 1: Let me drop a mic. So all right, we said, okay,
• 33:25
  Speaker 1: so I understand while the government after slavery, I understand
• 33:27
  Speaker 1: government and civil rights movement, Well why are the last
• 33:30
  Speaker 1: forty years are we're still tuck tucked away on the government.
• 33:35
  Speaker 1: And clearly now you're being told get out. There's the door,
• 33:39
  Speaker 1: you know, to go. You get the heck out of here.
• 33:41
  Speaker 1: On some level, you've been told to be act American.
• 33:44
  Speaker 1: There's no place for you within the federal government. Uh.
• 33:47
  Speaker 1: You don't have to ask me to go. I'm gonna leave. Uh. Again,
• 33:50
  Speaker 1: I believe in the James Brown version of affirmative action.
• 33:52
  Speaker 1: I opened the door. I get it my dang self. Now.
• 33:53
  Speaker 1: I met with the Secretary of the Treasury recently, the
• 33:56
  Speaker 1: new one, Scott Besssett, who was actually a nice guy.
• 33:58
  Speaker 1: I've known him for a decade. I'm not crazy about
• 34:01
  Speaker 1: the policies of this administration at all at all, but
• 34:07
  Speaker 1: I believe in the power of relationships. I know him,
• 34:09
  Speaker 1: he knows me, and we're going to work in financial
• 34:11
  Speaker 1: literacy together because that's something we could agree on and
• 34:15
  Speaker 1: I think we can get that done. But anyways, again
• 34:17
  Speaker 1: another conversation for another time. But I want also excess
• 34:20
  Speaker 1: capital from if the administration can't do thing else, they
• 34:23
  Speaker 1: can write a check or provide a guarantee for small
• 34:26
  Speaker 1: business loans or home ownership. Okay, but we don't even
• 34:28
  Speaker 1: need that for this plan. Check this out. So if
• 34:31
  Speaker 1: you got the government to change their mind and have
• 34:35
  Speaker 1: a deathbed conversion, that they're just like we have gone
• 34:38
  Speaker 1: and got in religion, and we went to the Pope
• 34:40
  Speaker 1: and we we you know, had a christ like experience
• 34:44
  Speaker 1: and we are spiritual in a different way now and
• 34:47
  Speaker 1: we admit that this was wrong, and we're going to
• 34:50
  Speaker 1: give black people reparations and welfare and everything. Okay, that's
• 34:54
  Speaker 1: good for between three hundred billion to six hundred billion
• 34:59
  Speaker 1: do dollars is by base on my research, at best
• 35:03
  Speaker 1: over the next twenty years, So by twenty fifty three, right,
• 35:08
  Speaker 1: give or take twenty five years, twenty eight years, right,
• 35:15
  Speaker 1: you'd get three hundred billion and six hundred bion dollars.
• 35:18
  Speaker 1: Sounds like a lot of money, it's not. Well, let
• 35:22
  Speaker 1: me tell you. If you increase your credit score one
• 35:24
  Speaker 1: hundred points, that's good by itself for seven hundred and
• 35:31
  Speaker 1: fifty billion dollars. Let this sink in what I just
• 35:35
  Speaker 1: told you. By raising your credit score, but you can
• 35:37
  Speaker 1: do by yourself with help from Operation Hope or the
• 35:39
  Speaker 1: National Urban League being a coaching counselor on your By
• 35:42
  Speaker 1: the way, National Urban League is a great trainer for
• 35:44
  Speaker 1: skills and you know whatever group you want to work with,
• 35:46
  Speaker 1: it's fine with me. But if you work with with
• 35:49
  Speaker 1: whoever right, make sure they don't charge you. If we raise,
• 35:52
  Speaker 1: we help you raise your credit score, which fundamentally changed
• 35:55
  Speaker 1: your access to capital, your viability, the ability for the
• 35:58
  Speaker 1: bank to say yes at midnight, not even know who
• 36:00
  Speaker 1: you are. The computer will just say yes. If you
• 36:01
  Speaker 1: put your information in that computer to become a homeowner,
• 36:04
  Speaker 1: and you have a job, and you've got a credit score,
• 36:06
  Speaker 1: they're not going to ask you what color you are,
• 36:07
  Speaker 1: what jinder you are. The computer will say yes. If
• 36:09
  Speaker 1: you're seven hundred and fifty credit score, seven hundred credit score,
• 36:12
  Speaker 1: they have a good job that the computer trust me
• 36:14
  Speaker 1: will say yes to prime credit because they need the
• 36:16
  Speaker 1: loan in order to make a profit. But if you
• 36:19
  Speaker 1: just raise your credit score one hundred points, if Black
• 36:23
  Speaker 1: and Merker just did that, didn't do anything else, it'll
• 36:26
  Speaker 1: be worth seven hundred and fifty billion dollars of wealth
• 36:29
  Speaker 1: creation by twenty fifty three, compared to three hundred billion
• 36:32
  Speaker 1: or six hundred billion at most by begging the government.
• 36:45
  Speaker 1: So now you've got your credit score up, Okay, so
• 36:47
  Speaker 1: now with at least do what did I tell you
• 36:49
  Speaker 1: the first way to build wealth, best way to build wealth,
• 36:51
  Speaker 1: easiest way to build wealth. Home ownership. We own about
• 36:55
  Speaker 1: forty two forty three percent of homes. You increase that number.
• 36:58
  Speaker 1: I've already told you that object. Go back to the podcast.
• 37:01
  Speaker 1: Listen to that. Right, that's worth eight hundred billion dollars
• 37:05
  Speaker 1: in wealth creation. So eight hundred billion and seven hundred
• 37:08
  Speaker 1: and fifty billion is give or take one point five
• 37:12
  Speaker 1: one point six trillion dollars, which is four x or
• 37:16
  Speaker 1: six x or more of the value of the best
• 37:19
  Speaker 1: case scenario of government assistance. Are you excited yet? Okay?
• 37:24
  Speaker 1: And we can do this ourselves. Those two things we
• 37:26
  Speaker 1: can do ourselves. So you said, John, it's not easy
• 37:29
  Speaker 1: to become a homeowner. Actually it's not hard. You're gonna
• 37:33
  Speaker 1: get a pay to lift somewhere. It's going to cost
• 37:36
  Speaker 1: just about as much as rent these days as well.
• 37:38
  Speaker 1: To own a home. Just took or be buying no
• 37:40
  Speaker 1: fancy thing uptown. Forget the little mini mansions all that stuff.
• 37:43
  Speaker 1: Go get yourself some of the hood adjacents. Get yourself
• 37:45
  Speaker 1: a reasonable home and a working class neighborhood. If you
• 37:49
  Speaker 1: live in Atlanta, you know what I'm talking about. From
• 37:50
  Speaker 1: midtown Atlanta to the airport, I believe is the next
• 37:53
  Speaker 1: gold mine. Find something you can afford near transportation, economic activity, jobs, vitality,
• 38:01
  Speaker 1: energy right and buy it, rehabit and live in it.
• 38:06
  Speaker 1: If you're really smart, you want to buy another piece
• 38:08
  Speaker 1: of property, maybe in partnership through with an LLC limited
• 38:11
  Speaker 1: liability corporation with family or friends. Make sure it's business,
• 38:14
  Speaker 1: not some emotional thing, and you use equity from the
• 38:17
  Speaker 1: first house to buy the second house. Again, make it modest,
• 38:20
  Speaker 1: buy it, rehabit, and rent it. But I'm getting ahead
• 38:23
  Speaker 1: of myself on the first situation. If you get your
• 38:26
  Speaker 1: credit score up to seven one hundred and seven to fifty,
• 38:28
  Speaker 1: you can access capital. So now that triggers home ownership.
• 38:31
  Speaker 1: Do you know if you're black and brown, or women
• 38:34
  Speaker 1: a minority, or even poor white, that there are Community
• 38:37
  Speaker 1: Reinvestment Act programs through FDIC insured banks that stipulate that
• 38:43
  Speaker 1: they must if they're going to take deposits from wealthy neighborhoods,
• 38:46
  Speaker 1: they must reinvest in the poor neighborhoods and not going
• 38:47
  Speaker 1: to give them money away. But they have a test
• 38:50
  Speaker 1: investment lending in service. I've raised four billion dollars plus
• 38:54
  Speaker 1: four and a half billion dollars of cra capital for
• 38:57
  Speaker 1: my different endeavors in operation Hope, I'm telling you this works.
• 39:02
  Speaker 1: Go bring go, become an emerging market customer for these banks.
• 39:05
  Speaker 1: And because you meet the criteria as a low wealth
• 39:07
  Speaker 1: or underserved population forget DEI you're fifth on the list
• 39:11
  Speaker 1: if you're black, who cares about this stuff? So I,
• 39:12
  Speaker 1: being the poster child for that you're fifth on the list,
• 39:15
  Speaker 1: will be first in the list. They want you as
• 39:17
  Speaker 1: a customer, not as a black person, but as a
• 39:18
  Speaker 1: green person, as an economic prosperity. Let us prepare you
• 39:21
  Speaker 1: get your credits grew up, your debt down, a budget,
• 39:24
  Speaker 1: your savings leveled up. So we're getting an operation to
• 39:26
  Speaker 1: help you fit. Credits grow up fifty four points, your
• 39:28
  Speaker 1: debt down thirty I think it's thirty eight hundred dollars,
• 39:32
  Speaker 1: your savings up twelve hundred dollars for the average person
• 39:34
  Speaker 1: making forty eight to fifty thousand dollars. So the bank
• 39:37
  Speaker 1: can say yes, okay, and you're now so the bank
• 39:44
  Speaker 1: will give you lower interest rates than anybody else okay.
• 39:48
  Speaker 1: And in many cases the bank has as much as
• 39:49
  Speaker 1: a ten thousand dollars down payment sins this loan. So
• 39:52
  Speaker 1: if you're in Columbus, Georgia, or you're in in one
• 39:54
  Speaker 1: of these small towns, most of us live in small towns.
• 39:56
  Speaker 1: I think it's like sixty percent of Black Americas in
• 39:58
  Speaker 1: small towns. I believe that's the number. I'm doing this
• 40:01
  Speaker 1: off my top of my head. Somebody can fact check me,
• 40:03
  Speaker 1: but it's a big number. I mean, you can buy
• 40:05
  Speaker 1: a one hundred thousand dollars You don't have to buy
• 40:07
  Speaker 1: a mini mentioned buy one hundred thousand dollars house, a
• 40:09
  Speaker 1: two hundred thousand dollars house. A ten thousand dollars down
• 40:11
  Speaker 1: payment is five or ten percent of what you need
• 40:14
  Speaker 1: to buy that house, and you get your earning tax credit,
• 40:16
  Speaker 1: which the operation can also help you get if you
• 40:18
  Speaker 1: make less than I did a pock. I did a podcast.
• 40:20
  Speaker 1: I did a post on this recently when I was
• 40:22
  Speaker 1: after I came off the Breakfast Club, which I love
• 40:24
  Speaker 1: those people at the Breakfast Club. That post is already
• 40:27
  Speaker 1: up to a million people who view that because I
• 40:29
  Speaker 1: talked about the earned income tax credit and how if
• 40:32
  Speaker 1: you make fifteen thousand dollars a year, the federal government
• 40:33
  Speaker 1: owes you a check for working it's not a giveaway program.
• 40:36
  Speaker 1: It's bipartisan policy, been around since the seventies, the nineteen seventies,
• 40:40
  Speaker 1: CRA two since the nineteen seventies. It's not going anywhere.
• 40:43
  Speaker 1: So if you work hard, and you if you had
• 40:45
  Speaker 1: two or three children, which is the average for this country,
• 40:48
  Speaker 1: the less you make, the more kids you have, the
• 40:51
  Speaker 1: more money the com federal government owes you for working.
• 40:53
  Speaker 1: So if you make thirty eight forty thousand dollars a
• 40:54
  Speaker 1: year in this example, you have three children that the
• 40:56
  Speaker 1: government owes you a check for six thousand, seven thousand dollars.
• 41:00
  Speaker 1: If you never filed EIITC Earned income tax credits retroactive
• 41:04
  Speaker 1: for three years. Okay, that's going to be as much
• 41:07
  Speaker 1: as twenty thousand dollars. If you have the twenty thousand
• 41:09
  Speaker 1: dollars to the down payment assistance from the bank, which
• 41:12
  Speaker 1: is much as ten thousand dollars. Now you've got as
• 41:14
  Speaker 1: much as thirty thousand dollars to payoff that auto loan,
• 41:17
  Speaker 1: pay down those credit cards, put it downpain on the house.
• 41:19
  Speaker 1: Are you excited yet? Put some savings aside. So now
• 41:23
  Speaker 1: if you add the credit score increases with the home
• 41:27
  Speaker 1: ownership number seven hundred and fifty billion plus eight hundred billion,
• 41:30
  Speaker 1: you're at one point five trillion dollars of networth by
• 41:32
  Speaker 1: twenty fifty three, not zero. Can I get an amen? Okay?
• 41:37
  Speaker 1: So now let's talk about item number five, Capital access
• 41:41
  Speaker 1: and investment growth. The target is one trillion dollars in
• 41:44
  Speaker 1: investment in the Black communities. Strategies leverage CRA, Community Reinvestment
• 41:49
  Speaker 1: Act CDFIs, Community Development, Community development financialstitutions, and also minority
• 41:54
  Speaker 1: banks and private sector capital, launch black owned investment funds,
• 41:58
  Speaker 1: right impact, create an enduring economic foundation for generational wealth.
• 42:06
  Speaker 1: And Okay, so now let's get into another number that
• 42:11
  Speaker 1: I love to talk about here, artificial tell well, forget
• 42:16
  Speaker 1: the AI small business creation, so there's going to be there.
• 42:25
  Speaker 1: You have the largest generation of people over sixty five ever.
• 42:28
  Speaker 1: Now these are white, wealthy baby boomers who are trying
• 42:31
  Speaker 1: to retire. I may do a podcast just on this.
• 42:34
  Speaker 1: You tell me whether you need to do it or not.
• 42:36
  Speaker 1: I'm not gonna even get through this business Black America
• 42:39
  Speaker 1: because it's already at forty two minutes and I'm not
• 42:41
  Speaker 1: even through the details. You tell me what you want
• 42:43
  Speaker 1: to do another one on this and go even deeper
• 42:45
  Speaker 1: about strategies and all that stuff and tools. I when
• 42:47
  Speaker 1: we get to the details here. But hopefully this has
• 42:49
  Speaker 1: been powerful to get you the ignition light lit in
• 42:52
  Speaker 1: you and excited about a plan that is in front
• 42:55
  Speaker 1: of you that you can do. So this population of
• 42:59
  Speaker 1: white wealthy baby boomers are year heaven sent. They're white, wealthy,
• 43:03
  Speaker 1: and they want to go play golf. They're tired, they're
• 43:05
  Speaker 1: ready to go chill. Great, right, there's more of them
• 43:09
  Speaker 1: than people under eighteen. By the way, the forty percent
• 43:13
  Speaker 1: of the people under eighteen, Sorry, there's more people under
• 43:16
  Speaker 1: eighteen who are people of color than not. So basically
• 43:19
  Speaker 1: they're non white. That's the new diversity of this country. Right.
• 43:23
  Speaker 1: So these young people have got to become capitalists, the
• 43:25
  Speaker 1: bottom of the third of the pyramid have got to
• 43:28
  Speaker 1: become economically prosperous. Or put another way, my rich friends
• 43:31
  Speaker 1: eat my poor friends to do better, if only to
• 43:32
  Speaker 1: stay rich. So these baby boomers are trying to retire.
• 43:36
  Speaker 1: There's a one hundred is I'm so excited. There's four
• 43:41
  Speaker 1: hundred trillion dollars of wealth in the world. About a
• 43:44
  Speaker 1: third of that is in the United States. Okay, eight
• 43:47
  Speaker 1: billion people in the world three hundred fifty million people
• 43:48
  Speaker 1: in America. So America is pretty amazing, even with our
• 43:52
  Speaker 1: current drama. So a third of that at wealth is
• 43:55
  Speaker 1: in the US. This is call it one hundred and
• 43:57
  Speaker 1: fifty three. And just to round off the numb the
• 44:01
  Speaker 1: country is as you know, we know how the country is.
• 44:04
  Speaker 1: It's you know, since you know, sixteen hundreds whatever, seventeen
• 44:09
  Speaker 1: hundreds formality and all that kind of stuff. Okay, of
• 44:13
  Speaker 1: that number, fifty trillion dollars was created since the year
• 44:15
  Speaker 1: two thousand. Of the one hundred and fifty trae of
• 44:18
  Speaker 1: wealth since the beginning of the US, fifty treeity of
• 44:21
  Speaker 1: that wealth was created since the year two thousand. The
• 44:24
  Speaker 1: last twenty five years, these baby boomers want to want
• 44:27
  Speaker 1: to want to go live their life. They're going to
• 44:30
  Speaker 1: transfer about one hundred trillion dollars of wealth over the
• 44:32
  Speaker 1: next ten to twenty years to their inheritance. That means stock.
• 44:38
  Speaker 1: That means the children, the wives, the husbands, the loved
• 44:41
  Speaker 1: ones are going to get this wealth right well, these
• 44:44
  Speaker 1: loved ones are going to want the stocks, the bonds,
• 44:46
  Speaker 1: the cash, the homes, the real estate. They don't want
• 44:50
  Speaker 1: the businesses. Please listen to me now, I'm giving you
• 44:54
  Speaker 1: a lot of As Jay Z said, I'm gonna give
• 44:55
  Speaker 1: you a million dollars worth a game for nine ninety nine. Why,
• 44:59
  Speaker 1: I'll give you a million dollars with a game, but
• 45:01
  Speaker 1: none ninety nine. In fact, I'm about to give you
• 45:03
  Speaker 1: about ten to twelve trillion dollars worth a game. So
• 45:06
  Speaker 1: out of this one hundred trellion dollars is going to
• 45:09
  Speaker 1: transfer in the next ten to twenty years, starting right down,
• 45:15
  Speaker 1: about ten to fifteen trillion dollars of that are businesses
• 45:19
  Speaker 1: that nobody wants. I just dropped the mic at minute
• 45:22
  Speaker 1: forty five. There are ten to fifteen ten twelve, fifteen
• 45:28
  Speaker 1: trillion dollars of viable, successful, profitable businesses with real estate,
• 45:34
  Speaker 1: you know, a good brand, reputation, customers. It's a profitable,
• 45:40
  Speaker 1: successful business. There's nothing wrong with it, except that the
• 45:44
  Speaker 1: kids don't want it. The why or the husband doesn't
• 45:48
  Speaker 1: want it. They want to go live their life. They
• 45:50
  Speaker 1: want to The first generation makes it, the entrepreneur like me.
• 45:54
  Speaker 1: The second generation spends it. Okay, third generation loses it.
• 46:00
  Speaker 1: It's unfortunate but true, and it's historic. So this second
• 46:03
  Speaker 1: generation wants to go. They want to go have fun,
• 46:06
  Speaker 1: they don't want to work and do this business thing.
• 46:08
  Speaker 1: So that means that that business has no place to go.
• 46:11
  Speaker 1: There's nothing wrong with it, and you and I can
• 46:14
  Speaker 1: go buy those businesses. In fact, when I get through
• 46:16
  Speaker 1: with a couple of my objectives and my goals, I
• 46:19
  Speaker 1: plan on on accumulating a portfolio of these businesses. So
• 46:24
  Speaker 1: I'm not telling you to do something I'm not thinking
• 46:26
  Speaker 1: about myself. There's nothing wrong with these businesses. They're cash along,
• 46:30
  Speaker 1: they're profitable, they have wealth, and it is easier actually
• 46:34
  Speaker 1: to acquire a ten or twenty million dollars successful, profitable
• 46:38
  Speaker 1: business with a brand and reputation, customer base and assets.
• 46:42
  Speaker 1: To acquire that was what's called non recourse debt. Go
• 46:45
  Speaker 1: and listen to my podcast from last year where I
• 46:47
  Speaker 1: talked about different kinds of debt. Go back and watch
• 46:51
  Speaker 1: or listen to that podcast. It is easier to acquire
• 46:55
  Speaker 1: that business from Wall Street sources with non recourse debt,
• 46:58
  Speaker 1: which means you don't guarantee it versus a personal guarantee.
• 47:01
  Speaker 1: Then starting a pizzeria for one hundred thousand dollars, what
• 47:04
  Speaker 1: you've got to guarantee with your house or a personal
• 47:07
  Speaker 1: loan of your third born child from a to get
• 47:10
  Speaker 1: it a loan that you got to pay back, and
• 47:13
  Speaker 1: if you don't, you go bankrupt. It is easier to
• 47:16
  Speaker 1: get a loan for a ten an acquisition loan for
• 47:19
  Speaker 1: a ten or twenty million dollars successful business than it
• 47:22
  Speaker 1: is to get loan for your person under your personal
• 47:26
  Speaker 1: credit and personal wealth for one hundred thousand dollars to
• 47:28
  Speaker 1: start a local pizzeria or whatever that you want to start.
• 47:32
  Speaker 1: I'm not telling you not to do the pizzeri. I'm
• 47:33
  Speaker 1: just telling you this is a whole new ball game
• 47:35
  Speaker 1: that no one ever taught you, and it is going
• 47:37
  Speaker 1: to be a huge opportunity. It's not going to be easy,
• 47:41
  Speaker 1: but I'm telling you it's there, and it is massive,
• 47:43
  Speaker 1: and that's worth a trillion dollars of our net worth
• 47:47
  Speaker 1: by twenty fifty three. And then you have artificial intelligence, okay,
• 47:53
  Speaker 1: which is worth another seven and fifty to a trillion
• 47:55
  Speaker 1: dollars by twenty fifty three. So you add these numbers up,
• 47:59
  Speaker 1: zero net worth by twenty fifty three if we do nothing,
• 48:03
  Speaker 1: seven d and fifty billion dollars by twenty fifty three.
• 48:06
  Speaker 1: If we just get our credit score up one hundred
• 48:07
  Speaker 1: pots neighborhood b neighborhood, community by community. As we're partnering
• 48:10
  Speaker 1: with the Mayor of Atlanta Andrey Dickens, as we're partnering
• 48:13
  Speaker 1: with Mayor Paul Young and Memphis, as we're partnering with
• 48:16
  Speaker 1: communities across this country using the Hope Financial Wellness Index,
• 48:18
  Speaker 1: My Hope financial coaches getting credits grew up, savings down,
• 48:22
  Speaker 1: debt up so that sorry, debt down, savings up, credits
• 48:25
  Speaker 1: grew up so that you can be qualified for a
• 48:27
  Speaker 1: proper prime bank loan and prime rates so you can
• 48:32
  Speaker 1: access capital. Getting that credit score up one hundred points.
• 48:36
  Speaker 1: By the way, you live twenty year longer life. Did
• 48:38
  Speaker 1: you know this? If you live in a sevenator credit
• 48:40
  Speaker 1: score neighborhood versus living in a five hundred credit score neighborhood,
• 48:43
  Speaker 1: you live get this now a five year longer lifespan
• 48:48
  Speaker 1: for every fifty point increase in your credit score above
• 48:50
  Speaker 1: five hundred. We're dropping all kind of mics here. Don't
• 48:54
  Speaker 1: trust me. Go to the whole Financial Wellness Index. Look
• 48:56
  Speaker 1: at the data that we have there. We've mapped every
• 48:58
  Speaker 1: zip code in America by credit score. We have overlaid
• 49:01
  Speaker 1: census data, Credit Bureau data, I want to thank Experience
• 49:04
  Speaker 1: for the access to their data. We are I like
• 49:08
  Speaker 1: to quote my friend Melody Hops and I like math
• 49:11
  Speaker 1: because it doesn't have an opinion. So you have a
• 49:13
  Speaker 1: five hundred credit score, you lived at sixty one years
• 49:16
  Speaker 1: of age. You don't get so security to sixty five. Hello,
• 49:21
  Speaker 1: So you dropped dead at sixty one because you got stress.
• 49:23
  Speaker 1: You have high pertension, you got depression. You've eatn bad
• 49:26
  Speaker 1: food because you're eating at fast food restaurants. You're inflamed.
• 49:30
  Speaker 1: You're not fat, you're inflamed because well, you're stressed out
• 49:33
  Speaker 1: and inflammation. And my wife Shape will tell you, she's
• 49:36
  Speaker 1: a wellness expert that seventy five percent of all disease
• 49:39
  Speaker 1: lives on inflammation. Okay, so you're living in this a
• 49:44
  Speaker 1: surviving mindset. You have a low credit score, you're being
• 49:47
  Speaker 1: preyed on by financial predators. You those who have the
• 49:50
  Speaker 1: least pay the most, The poor pay the most. You
• 49:52
  Speaker 1: hang around nine broke people, you'll be the tenth. Is
• 49:55
  Speaker 1: this resonating? Yet you go fifteen minutes away from that,
• 49:58
  Speaker 1: That's literally true, fifteen minutes away from a five un
• 50:00
  Speaker 1: a creditcre neighborhood all across this country is a seven
• 50:03
  Speaker 1: hundred credit score neighborhood. Again, I mapped it out for
• 50:06
  Speaker 1: every zip code in America. Don't trust me. Go to
• 50:08
  Speaker 1: my Hope website putting your go to Hope Finance. All
• 50:12
  Speaker 1: this searchable Internet's searchable. I created all these tools for you.
• 50:15
  Speaker 1: I created basically the operation Hope is that economic plumbing
• 50:18
  Speaker 1: for underserved America, the federal reserve of the hood. If
• 50:21
  Speaker 1: you want to call it that. Go to my website
• 50:25
  Speaker 1: for go. These are all different websites. Go to the
• 50:27
  Speaker 1: Hope Financial Wellness Index website web page. Type in your
• 50:30
  Speaker 1: zip code. I'll tell you how you live, and I'll
• 50:32
  Speaker 1: tell you exactly the credit score in your neighborhood. And
• 50:34
  Speaker 1: it'll all make sense to you once you find out
• 50:36
  Speaker 1: that zip code and that credit score. So you live
• 50:38
  Speaker 1: in a fire in a creditcorred neighborhood, you live in
• 50:40
  Speaker 1: a sixty one years of age fifteen minutes away. You
• 50:42
  Speaker 1: live in a seven hundred credit coord neighborhood. You lived
• 50:44
  Speaker 1: an eighty one years of age. So for every fifty
• 50:48
  Speaker 1: point increase in your credit score, you lived another five years.
• 50:51
  Speaker 1: And it's not about the credit score, It's about the
• 50:53
  Speaker 1: trending indicator of hope, well being, believed, confidence, joy, optimism.
• 50:57
  Speaker 1: You know, two parent households and seven under credit cod
• 51:00
  Speaker 1: neighborhood versus a one period of household in the five
• 51:03
  Speaker 1: underrecreditscore neighborhood. You can go to high school equivalency and
• 51:06
  Speaker 1: a fire and credit score neighborhood. Sixty one percent of
• 51:08
  Speaker 1: people graduate from from high school. Ninety six ninety percent
• 51:12
  Speaker 1: plus graduate from high school in a seven hundred credit
• 51:14
  Speaker 1: score neighborhood. That's basically college you have. You know, you
• 51:18
  Speaker 1: have a lot of violent crimes per thousand in the
• 51:20
  Speaker 1: five undred credit score neighborhood. You have almost no violent
• 51:23
  Speaker 1: crimes per thousand in a seven hundred credit score neighborhood.
• 51:26
  Speaker 1: You have a very low home ownership rate twenty four
• 51:28
  Speaker 1: forty percent in a fire in a credit corred neighborhood.
• 51:31
  Speaker 1: Hello Black America, forty two percent average homeownership rate. You
• 51:35
  Speaker 1: have a seventy five percent home ownership rate plus in
• 51:38
  Speaker 1: a seven hundred cdit score neighborhood. I told you wells creation.
• 51:41
  Speaker 1: You have set down restaurants, the grocery stores in a
• 51:45
  Speaker 1: seven hundredscore neighborhood in parks, and you've got a concrete
• 51:48
  Speaker 1: jungle fast food restaurants and a bunch of drama in
• 51:52
  Speaker 1: a five hundred credit score neighborhood. In a seven undred
• 51:55
  Speaker 1: credit card neighborhood, the police protect you. In a fire
• 51:57
  Speaker 1: under credit credit cord neighborhood, the police pursue you. Right.
• 52:12
  Speaker 1: I hope this has made some sense. We didn't get
• 52:14
  Speaker 1: it as far as I wanted to get in this.
• 52:18
  Speaker 1: I am going to try to find a way to well.
• 52:20
  Speaker 1: The graph that I wanted to show you is on
• 52:23
  Speaker 1: the website, so I want you to print this graph out.
• 52:26
  Speaker 1: This is projected Black American networth by twenty fifty three.
• 52:30
  Speaker 1: It gives you the comparison of what we do nothing
• 52:32
  Speaker 1: if we do if we execute my business plan for
• 52:35
  Speaker 1: credit scores, my business plan for tied to home ownership,
• 52:39
  Speaker 1: and what we in the AI, and if we do nothing,
• 52:43
  Speaker 1: I'm sorry. And also it shows you what happens if
• 52:45
  Speaker 1: you just want to rely on the government. So if
• 52:49
  Speaker 1: you raise a black home ownership from forty four percent
• 52:54
  Speaker 1: to sixty five percent, you want like a trillion dollars
• 52:56
  Speaker 1: in household equity alone. AI I will help the streamline buying, selling, refinancing,
• 53:02
  Speaker 1: equity optimization for black home ownership. That's again another industry
• 53:06
  Speaker 1: and businesses that we can decide we're going to go
• 53:08
  Speaker 1: into skill folks through AI, artificial work in a new
• 53:13
  Speaker 1: workplace with artificial intelligence. That's what the National Urban League is,
• 53:16
  Speaker 1: our national the nation's skilling partner. That's what Mark Murrill
• 53:21
  Speaker 1: told me years ago. Well, they should be training folks
• 53:23
  Speaker 1: in artificial intelligence. I think that they shouldn't be. The
• 53:26
  Speaker 1: federal government shouldn't be destroying the part of education. It
• 53:28
  Speaker 1: should reimagine its role and have a teaching financial literacy
• 53:32
  Speaker 1: and AI literacy to the massive Americans with a high
• 53:34
  Speaker 1: school education at scale, every kid came through college should
• 53:38
  Speaker 1: get financial literacy for all financial literacy education, and every
• 53:41
  Speaker 1: kid an adult should be retrained, trained or retrained and
• 53:45
  Speaker 1: artificial intelligence skill set so they have a job for
• 53:50
  Speaker 1: the future or a business. She can tell I'm so
• 53:54
  Speaker 1: excited about all this. I didn't get in to get
• 53:58
  Speaker 1: into all of the details. There's so much more. But
• 54:01
  Speaker 1: just go online and download the plan. I'll go if
• 54:04
  Speaker 1: you want me to tell me whether you want me
• 54:06
  Speaker 1: to continue. If you want me to, I will then
• 54:08
  Speaker 1: unpack the rest of the plans on subsequent podcasts. But
• 54:15
  Speaker 1: I didn't want I don't want to do that if
• 54:17
  Speaker 1: you're not interested. So you got to tell me, because
• 54:18
  Speaker 1: I got a little geeks brays. You got to tell
• 54:20
  Speaker 1: me whether this is what you wan to do. But
• 54:22
  Speaker 1: let me in a couple of minutes. I got left.
• 54:24
  Speaker 1: I want I don't want to go over an hour
• 54:26
  Speaker 1: and outlive your driving exp you're driving situation, or you're
• 54:31
  Speaker 1: driving to work or home or wherever, or you're on
• 54:35
  Speaker 1: a run, or you're on a walk, or you're cooking
• 54:36
  Speaker 1: in the kitchen or whatever your is you're doing. You
• 54:39
  Speaker 1: may only have an hour to want to keep this
• 54:40
  Speaker 1: tight and respect your time. Here's some stats and facts
• 54:43
  Speaker 1: for you to take away. The average median household wealth
• 54:48
  Speaker 1: for Black America is about twenty four thousand dollars compared
• 54:51
  Speaker 1: to one hundred and eighty eight thousand dollars for our
• 54:54
  Speaker 1: white counterparts. Just to underscore this is not just about race.
• 54:58
  Speaker 1: Racist Look, racism is like rain. It's either falling some
• 55:01
  Speaker 1: place or it's gathered, so you might as well get
• 55:03
  Speaker 1: out of color. And you like an umbrella, You like
• 55:05
  Speaker 1: it a color you like and stroll through it because
• 55:08
  Speaker 1: it's not going to change, so you must. Racism is
• 55:11
  Speaker 1: like rain, it's either falling some places or it's gathering,
• 55:13
  Speaker 1: So get out an umbrella and a color you like
• 55:15
  Speaker 1: and start strolling through it, because it's not going to change,
• 55:18
  Speaker 1: so you must. I said it twice to underscore it.
• 55:22
  Speaker 1: What's the point here? In Boston there was a study
• 55:24
  Speaker 1: by the Federal Reserve Bank of Boston on wealth and
• 55:28
  Speaker 1: they found the average white family had a net worth
• 55:30
  Speaker 1: of I think it was one hundred and twenty one
• 55:32
  Speaker 1: hundred and forty thousand dollars in Boston. I think that
• 55:34
  Speaker 1: number was right, And for Caribbean Americans it was twelve
• 55:37
  Speaker 1: hundred dollars net worth. They'd just come from Caribbean and
• 55:39
  Speaker 1: they'd just getting themselves established. African Americans who've been here
• 55:43
  Speaker 1: since slavery net worth of seven bucks. That's not in fact.
• 55:49
  Speaker 1: The Boston Globe when they printed this, they had to
• 55:51
  Speaker 1: say in the front page of Boston Globes Black American
• 55:54
  Speaker 1: net worth in Boston seven bucks, and they had to
• 55:58
  Speaker 1: put this is not a typo. So you think the
• 56:00
  Speaker 1: issue is only race again, You've been bamboozoo. You've been tricked,
• 56:03
  Speaker 1: you've been food, you've been hoodwinked, you've been folks trying
• 56:06
  Speaker 1: to confuse, you, distract you, then the black American networth
• 56:10
  Speaker 1: and the Caribbean black networks should be exactly the same. Hello,
• 56:16
  Speaker 1: And the net worth of whites should be poor. There
• 56:18
  Speaker 1: shouldn't be poor whites and rich whites should just be
• 56:20
  Speaker 1: rich whites. Okay, But the net worth is different between
• 56:24
  Speaker 1: Caribbean blacks and after American blacks because the mindset is different,
• 56:28
  Speaker 1: the experience is different. They had slavery for a much
• 56:30
  Speaker 1: shorter period of time in the Caribbean. It continued as
• 56:34
  Speaker 1: a as a Scottish industry in the United States, and
• 56:37
  Speaker 1: they destroyed our self. Estee, I covered the economics of
• 56:40
  Speaker 1: slavery in the last podcast, not emotionally. Go and check
• 56:44
  Speaker 1: it out. And I didn't you know, I wasn't hitting
• 56:47
  Speaker 1: on blaming blaming anyone racist people, because frankly, everybody was
• 56:51
  Speaker 1: involved in the slave trade, including some blacks. How do
• 56:54
  Speaker 1: you think that people? They got folks from the center
• 56:56
  Speaker 1: of Africa to the coast. Hello, there were Arabs involved
• 56:59
  Speaker 1: with this, Indians involved with this. I'm not sure of Asians,
• 57:03
  Speaker 1: but Europeans controlled the industry. Of course they were the
• 57:08
  Speaker 1: worst prosecutors of this. But you had some black tribesmen
• 57:10
  Speaker 1: that were involved in the slave trade. They weren't there
• 57:13
  Speaker 1: was a slave, it was they were capturing other tribes
• 57:16
  Speaker 1: and they would sell them. So let's stop getting being
• 57:18
  Speaker 1: emotional and start being serious about solving this problem. We
• 57:22
  Speaker 1: can solve it. It's not like somebody gave us a
• 57:24
  Speaker 1: memo and capitalism and free enterprise. We screwed it up.
• 57:26
  Speaker 1: We just never got the memo. I'm trying to give
• 57:28
  Speaker 1: you the memo and trying to unpack it and repack
• 57:30
  Speaker 1: it with you in mind. So we're projected to have
• 57:32
  Speaker 1: as net worth it goes that falls to zero by
• 57:35
  Speaker 1: twenty fifty three if we do nothing, But black spinning
• 57:38
  Speaker 1: is already one point six trade and is estimated to
• 57:41
  Speaker 1: be over two tree and very soon. The gap isn't capacity,
• 57:44
  Speaker 1: it isn't intelligence right where the rules are published and
• 57:47
  Speaker 1: the playing fillers level, we kill it. Think about professional sports,
• 57:51
  Speaker 1: think about the arts, think about entertainment, think about faith, church,
• 57:56
  Speaker 1: think about politics. Right, we've become president of United States
• 58:00
  Speaker 1: of America from nothing from slaves. We've run some of
• 58:03
  Speaker 1: the biggest churches and faith based institutions. The first institution
• 58:06
  Speaker 1: that black people control. We're the pulpits. It was the
• 58:09
  Speaker 1: only place we could organize it during slavery, and that
• 58:12
  Speaker 1: legacy continues today. Bishop td Jakes in the Potter's House,
• 58:15
  Speaker 1: and what Reverend Jamal Brian is doing here in Atlanta,
• 58:18
  Speaker 1: and there's all these heroes and sheroes, Reverend Mark Woodlock,
• 58:20
  Speaker 1: all these people are a church responsible with the first
• 58:23
  Speaker 1: black corporation, first black school, first black hospital. That was
• 58:27
  Speaker 1: the ame church that did that right. So don't run
• 58:30
  Speaker 1: away from capitalism, run to it. Just become a good capitalist,
• 58:32
  Speaker 1: not a bad capitalist. Good capitalism is where I benefit,
• 58:35
  Speaker 1: you benefit more. Bad capitalism is where I benefit you
• 58:38
  Speaker 1: pay a price for it. The gap is in capacity
• 58:41
  Speaker 1: or intelligence. When the rules are published and the plane
• 58:43
  Speaker 1: for this level, we kill it, but it's what we
• 58:46
  Speaker 1: don't know that we don't know. This is killing it,
• 58:48
  Speaker 1: but were killing is what we think we know. We
• 58:51
  Speaker 1: lack access, credit, ownership, and strategy. I just covered that
• 58:57
  Speaker 1: in this last hour. We don't lack hustle, we lack
• 59:00
  Speaker 1: structured systems. We lack plumbing. That's what this plan is about,
• 59:05
  Speaker 1: economic plumbing and your hustle connected to it. I want
• 59:11
  Speaker 1: you to go to the whole Financial Wellness Index. I
• 59:12
  Speaker 1: want you to put your zip code in. I want
• 59:15
  Speaker 1: you to figure out where you are your credit score,
• 59:18
  Speaker 1: pull your credit have operation hope to do it and
• 59:20
  Speaker 1: instead of target, how you're going to increase it to
• 59:22
  Speaker 1: seven hundred If that's one hundred. If you had six hundred,
• 59:25
  Speaker 1: you need to get to one hundred points. If you
• 59:27
  Speaker 1: had six twenty, you need eighty points. You know, so
• 59:29
  Speaker 1: on and so forth. And then I want you tie
• 59:31
  Speaker 1: this into whole ownership, small business funding, investment capital. Make
• 59:34
  Speaker 1: it hard for a bank or institution to say no
• 59:37
  Speaker 1: to you on merit. I use this plan to come
• 59:40
  Speaker 1: up up from nothing from southatro La and Compton with
• 59:43
  Speaker 1: from a high school educated mom and dad and a
• 59:46
  Speaker 1: poor family. I was homeless and now I'm in the
• 59:48
  Speaker 1: point zero I think it's point zero one percent of
• 59:52
  Speaker 1: income and wealth in the biggest economy in the world.
• 59:55
  Speaker 1: Me and I did it using the same philosophy. I'm
• 59:58
  Speaker 1: telling you now, this isn't about theory. We've helped raise
• 1:00:02
  Speaker 1: credit scord by word fifty points on average. Now we
• 1:00:04
  Speaker 1: can scale home ownership and wealth creation. Homeowner is home
• 1:00:08
  Speaker 1: ownership is a number one wealth building tool in America.
• 1:00:11
  Speaker 1: Already told you what we need to do to go
• 1:00:13
  Speaker 1: from forty four percent sixty forty four percent. I think
• 1:00:17
  Speaker 1: I've recreated, think I've reimagined things like a forty year
• 1:00:20
  Speaker 1: mortgage idea, which I'm trying to get some uh that's
• 1:00:24
  Speaker 1: in Time magazine. You want to read about my forty
• 1:00:26
  Speaker 1: year mortgage idea? Trying to Maybe it's Fortune magazine. Can
• 1:00:29
  Speaker 1: which one it published it, But I'm reimagining because you're
• 1:00:33
  Speaker 1: living longer and anyway, that's another strategy I've got beyond
• 1:00:38
  Speaker 1: a thirty year mortgage. I'm I'm also pushing the envelope
• 1:00:41
  Speaker 1: on policy. But I want you to to build wealth
• 1:00:47
  Speaker 1: renting someone else's I don't want you to build wealth
• 1:00:50
  Speaker 1: by trying to rnting somebody else's dream. You can't do
• 1:00:52
  Speaker 1: it that a way. You got to build your own
• 1:00:53
  Speaker 1: and own your own. I already talked about you know,
• 1:00:58
  Speaker 1: one mbb our strategy to acquire one hundred thousand plus
• 1:01:02
  Speaker 1: baby boom er. Own business is the new strategy. Eighty
• 1:01:05
  Speaker 1: eight trillion to one hundred trillion of wealth transfers underweight
• 1:01:08
  Speaker 1: ten to twelve trade of that's going to be businesses
• 1:01:10
  Speaker 1: nobody wants. If we own the business, we own the jobs,
• 1:01:13
  Speaker 1: the revenue, and the future. We own ourselves AI doesn't
• 1:01:19
  Speaker 1: have to be to replace us. It can empower us,
• 1:01:22
  Speaker 1: but only if we prepare. Now, my friend, my brother
• 1:01:25
  Speaker 1: Van Jones, has said the ninety nine percent of black
• 1:01:28
  Speaker 1: folks don't know a thing about AI. But then he said,
• 1:01:31
  Speaker 1: you know what, but ninety nine percent of white folks
• 1:01:33
  Speaker 1: don't know I thing about AI either. Is equal opportunity
• 1:01:35
  Speaker 1: to discrimination. We're all in this thing together, and we're
• 1:01:38
  Speaker 1: starting at the same place, and the world's gonna changed
• 1:01:40
  Speaker 1: by twenty thirty, the whole thing, everything. So get on
• 1:01:44
  Speaker 1: this train before it leaves without you. This plan that
• 1:01:48
  Speaker 1: I've laid out to you is going to grow GDP
• 1:01:50
  Speaker 1: Gross domestic Product bp BA the business plan for Black America.
• 1:01:55
  Speaker 1: I've created plans for Latino, Native Americans, Asians, poor whites,
• 1:01:59
  Speaker 1: rural a Maria. I think these plans together will add
• 1:02:02
  Speaker 1: five to seven three dollars of GDP every year. By
• 1:02:06
  Speaker 1: twenty fifty three, it e raised national annual GDP by
• 1:02:10
  Speaker 1: a percentage. This is not about some handout program. It's
• 1:02:14
  Speaker 1: not about Dee and I. This is DIY do it yourself.
• 1:02:18
  Speaker 1: This is not political, it's economic common sense. Hello, we
• 1:02:23
  Speaker 1: lift up those at the bottom. We don't just help them,
• 1:02:27
  Speaker 1: we grow the entire economy. This is not woke, This
• 1:02:30
  Speaker 1: is waking up. This is wealth. This is John O'Bryant.
• 1:02:35
  Speaker 1: I want you to join our eighteen sixty five project
• 1:02:37
  Speaker 1: and Operation Hope has become a member of Operation Hope.
• 1:02:39
  Speaker 1: Be a volunteered Operation Hope. Make a Hope commitment to
• 1:02:43
  Speaker 1: yourself through Operation Hope to operationalize this business plan. Print
• 1:02:46
  Speaker 1: it at Operation Hope, dream forward, share it, debate it,
• 1:02:51
  Speaker 1: share it on social media, create a discussion around this,
• 1:02:55
  Speaker 1: Let this go viral. Let me know if you wanted
• 1:02:59
  Speaker 1: to continue in this series both on how we've gone
• 1:03:02
  Speaker 1: from six thousand years, how we can transform ourselves from
• 1:03:05
  Speaker 1: being broke and having everything taken from us basic basically
• 1:03:10
  Speaker 1: from six thousand years to six years of really owning
• 1:03:13
  Speaker 1: the game, owning our own lives and bettering the lives
• 1:03:17
  Speaker 1: of others. We're not talking about replacing anybody. We're talk
• 1:03:19
  Speaker 1: about expanding the table and adding a chair. This room
• 1:03:21
  Speaker 1: for everybody here. That's a Stephanie Rule quote. By the way,
• 1:03:23
  Speaker 1: expand the table and add a chair. We're about growing GDP,
• 1:03:26
  Speaker 1: growing the pie, not cutting up a poverty pie, creating
• 1:03:28
  Speaker 1: an empowering pie. If you want me to do the
• 1:03:30
  Speaker 1: business plan. You want to do that to break down
• 1:03:34
  Speaker 1: in a multi part series of how black people got
• 1:03:36
  Speaker 1: here over six thousand years. I'll do that, but only
• 1:03:41
  Speaker 1: if you tell me to. You want to do each
• 1:03:42
  Speaker 1: of the business plans by group, Let me know that
• 1:03:45
  Speaker 1: I'll do that if you don't mean to do it.
• 1:03:47
  Speaker 1: There's plenty of other topics I can cover, and I
• 1:03:50
  Speaker 1: don't want Nobody don't want me. So if you don't
• 1:03:52
  Speaker 1: like the topic, I don't like it either. All Right,
• 1:03:55
  Speaker 1: I'm out. John O'Brien, This is Money and Wealth. Enjoy
• 1:03:58
  Speaker 1: your day. I hope you're smiling. Money and Wealth with
• 1:04:14
  Speaker 1: John O'Brien is a production of the Black Effect Podcast Network.
• 1:04:18
  Speaker 1: For more podcasts from the Black Effect Podcast Network, visit
• 1:04:21
  Speaker 1: the iHeartRadio app, Apple Podcasts, or wherever you listen to
• 1:04:26
  Speaker 1: your favorite shows.