Price Is Everything | Group Chat News Ep. 911
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Our cats were here. IT is thanksgiving week, black friday. I know a lot of other cat is out there. Work in retail, work in e commerce. IT is a big, big week for the entire industry, and it's a big week for travel, as always. Very thankful ving people expecting record trouble, people living at the town and get on planes, driving in cars, uh expecting mega mega weekend. What's interesting though is including drama.

He is also he was on a plane.

He was on a plane undisclosed location um was really interesting about the thankful ving situation. Um so I was with a lot of retailers the last two, three weeks and retails and brands have all told me that holiday sales are very strong. And it's exciting to see that we should see some pretty strong numbers for the holidays.

Target came out and and shared some pretty bad numbers, but I do think that's a target issue. Um I was actually target over the weekend. We had to get someone birthday gift.

And you know I look at the appeal section attarian now is they make in, by the way, like Frankly, like incredible place to shop if you're looking for great clothes, but it's expensive. It's not the same value you get at walmart or T M max or ross or burlington. And so I see why targets struggling, because they did such a good job of creating great brands and good products.

And then we entered this like era where Prices, everything and they in some categories are grocery. I think they're very competitive and probably some consumer staples. But like in a peril, they feel expensive jackets for thirty five, forty dollars, no t shirts for fifteen. Like that's not what happening at walmart. Walmart is like .

half the Price. So we all know that target this earnings pretty big. The stock was unlike twenty one percent on the day after earnings. And the C E O said, tried to blame IT on of the port strikes. Yeah and then people did deep dives on the internet and saying they have the exact same number of containers year over year and your inventory glad is because you can sell.

What happened was, as walmart reported a few days later and absolutely crushed yeah.

so they're trying to create a story. So it's clearly target problem. And you're saying it's because the Price the perl said, did I just noticed the pill?

I saw a jacket and men's jacket. I was a, well, it's a great jacket. I looked at thirty five books.

That's not cheap enough. No, not in the C N. T. Moo error. Thirty five dollars for a jacket like unless it's if you buying the name brand, you might spend two hundred dollars on a jacket bit if it's not a named brand.

So I don't shop a ton. And I was at the group today and I went to the nike store. A running jacket that you'd wear is now to actually cooler temperatures. It's her ten dollars.

Nobody who runs. Where is the winning jacket? That's the first problem.

So where .

they were in your those jackets are so stupid. I think all brands who do.

I can't believe it's one hundred ten thousand and I wanted to get something because it's i'd like to run outside and I was I got, you know it's good material and I looked just hundred ten box. I walked up .

yeah and the problem is, is because .

you're sweating in IT don't .

i'm going out and yeah to wash IT. I like my view is just freeze to death in A T shirt like I run in new york in the winner i'm freezing but I just like bucket i've rather freeze that than where a jacket or sweaters er that I have to wash so so I do think, look, I think certain brands have lost favor with the consumer. Nike is one of them .

yeah because even the consumer are. The time the floor that was trying to show me, I was asking he's like, oh, this is our little element competitor like why are you mentioning little little yeah .

i'll go to lemon yeah that's bad because like the they're not even in the same planet. It's the nike forgot to act like you're nike.

They ve they've lost away weird even like he going to convince me.

yes, what is that? The grove? He's in west hollywood and he's like, we don't we don't have the travel Scott here, which is the one thing that everyone .

wants from night .

alo there yeah and alone is probably crushes. I bet you that our store, which is half the size from nike, does the same business.

I would say it's twenty five percent size.

Next my first I okay. Then I don't know how big story I was.

two stories, but way.

okay. So I do the persis foot probably way more productive than the nike store that, that location is still very touristy. So like i'm sure that nike store is bonkers numbers, but nike, that here's what I think about retail this holiday season.

If you're not giving the consumer something they must have, they are not spending money with you. And I think the luxury brands, if you saw something like it's like one of the worst Christmas is ever expected for luxury brands, I would argue that that's the brands fault. You don't give them something to buy.

You're selling the same shit. You got to give energy. You ve got to give people, I don't care anyone says people are spending money, lots of money like I gun to hotels and airfare record high.

I gun to global comp up. I'd left around twelve thirty, twelve forty. I got nine forty five and IT was a complete to yeah and it's not in the Christmas story is not late and there's no say yeah that's that's .

in two days the Crystal street lights tomorrow yes, santista money or tuesday and .

once that happens .

it's a rap it's like rocket chip so so yeah I agree. I think I think from what i've heard that brands are expecting a very solid holiday. I mean, look, I was in betting bill for three days. No one in that will sweater Christmas. And they are amErica .

and targets and many helpless. What are they? swedged? It's bad merchandizing. I think it's just stayed in current rate products. I think it's the right product. And I think so what's different in the Price of warmer and Price? Obvious Price.

but but that's everything. Why can't .

target source the same Price product .

targets always been when the economy is strong and people spending crazy money? Less Price sensitive on these these other like directionally items like a perl or what whatever IT may be beauty product, things like that right now, consumers very sensitive. So like if I can get you know a pair of genes for fifteen dollars versus twenty five, you're doing IT.

That's a huge delta. And I think when you look, I just and i'm only paying attention in this last uh, day at target at a pero, I didn't feel promotional, IT said. This is the Price.

You didn't even didn't even even the method of marketing. When you walk into warmer, the Prices are phone, the little of things falling from the sky, right? Prices are falling makes me feel like I should be buying now before it's gone.

I might get that energy target right now. When I walking to target, i'm seeing everything feels like for Price, what you trying to prove i'm on email less for like a hundred friends everyone is on sale. Deep.

deep deep deep discount target .

CEO k on said we're gonna gressier for Christmas. We're going to drop Prices. And I think that piece is extremely important to like um to recall what like if you do drop the Prices like you, a lot of brand owners always feel like I can't drop Price. My brand is special unless you should now be on a maz IT doesn't fucked in Better. I'm sorry, I just does not.

Yeah, i'm getting spammed as James pure, which is a brand I love. Seventy percent.

They are permanent. seventy. You can get IT somewhere all the time, something up and by with .

the promise zing, because I went and i'd looked on the site. It's like two X L, X L. The stories on on sale, i've walked into the Better hills one maybe other .

source yeah maybe I don't know, have an outlet summer, I know they do have an outlet. You just have to like whatever just be like .

I want a discount you .

thinking can goto ate a percent .

I in sumer real.

i've done IT really .

guess .

I did not want I misses faces .

he said, I need twenty percent off don't they make you sign up for credit?

I was like, you know, no sale and she's like, no next weekend, friends and family am I what is that cold? And she's like, yes, something like that. I'm like, applied right now.

He goes, buy something else. I go fine. I put something else and literally in mac in like like maybe a lana somewhere. I don't know. I don't m and I needed like some dressing or clothes to can you name .

your brand in the next week for black friday that won't have a black friday? So, so hard.

so hot.

Do some are right?

yeah. But believe the highest friends are still running a sale. I mean, like what is our math doing for black friday? Nothing in your face.

hello. yeah. Although launch a black friday, three weeks ago, three weeks ago, I got served that friends and family and my friend and my family.

I'm a friend.

Okay, well know i'm not neither. And I got a bucket and I got served in the ad. So yeah.

although I will say so, I went to nike and then I went to allow for just I didn't buy anything, but I looked to everything and tried a few things on, I is much .

Better than nike product Price. Yeah, it's more wearable.

able and you don't even feel like you need to wear to work.

You could just wear a casual life. So the problem is, is nike is like a timetable for aesthetic style, like who wears the stuff now .

yeah I was very obvious. I I was actually shocked because i'm bias to nike because that's what I grow up on. Michael Jordan ah all the stuff. And I went to nike wanting to buy something you and I .

didn't go look at on cloud and hook. They're so fucking good like I I literally want like have the store when I walk into those brands yeah like I little was like, dam, I want this stuff. I don't feel that about nike. The only nike thing that ever see as ago, I would wear some traveled scots and I have some that stuff. But like everything.

have the emergency stories bad?

Yeah you walk in and .

it's not the stuff you actually wanna buy. So they make you up to the second floor. That's the opposite what you're supposed to do yeah the first floor but like if you go to any higher store, women is first flow yeah because that .

who's buying I if I was like kind of women's and kids first .

far and then everyone buy .

yeah but like and it's like I don't know when I walk and store that there is zero things I want.

even the nike A U S C stuff, the dodger stuff, the later stuff. I would buy laker stuff if I was good, I looked, I was like, this is black in the problem .

of sports like there's so many brands that do an incredible job. It's really, really tough. And like, look, I think the new C E O coming in is actually going to have fix the brand. I'm actually very bullish, ed, on the future of nike. I think the next year is gonna tough because IT takes these guys work so far ahead that like they are going to have to figure this out, but they need like energy pad. I mean, travel god, is that I anything .

travel day.

of course, because it's not available. It's available on his side or sneakers APP for five seconds. So like that is IT like that is the energy of the brand is travis Scott. And IT doesn't exist for average people, like average person does not get to buy anything travel Scott.

And the number of people i've seen since the is I arn right now. So and I looked at the dodgers merchandise, yeah, it's up. Yeah.

we've lost away. And like by the way, there's a lot of brands like the gap came out rogin crashed revenue, core earnings, the gap, the gap came in fixer business and is booming. What do you think they fixed the merchant? I think it's product.

I think like we can.

can be nailed product gap, nailed product and collaborations. They did mad, happy. They did doing they did, you know, palace.

They've done easy. They have done like things to get people back in their stores. And you know like if you look at nike, the athletic brand, who do they have?

They are party. no. And drama I think it's on like a high test. They've Carry who they don't know yeah .

they no 点 and by the way， that choose pop .

in Carry bikes .

are yeah i'm just saying .

like they don't have they Brown the Brown and N B.

A. Ratings for the first quarter of the season is really bad.

I have seen that and my people said that .

NBA rings like down twenty five percent or something. No.

it's not that bad, but it's definitely down year over year. But if you compound that over the last five years, it's really bad year year.

There is no excuse for any export to be done.

And this is what begs the question for me and I i've meant the a million times, why are the advertisers paying so much for this? right? No one's watching.

It's yeah but that's that's that's rigged. There's a matter advertisers will pay doesn't matter. It's a package you want the nfl, you got to buy a shit nb ads coma different doesn't matter. No, it's not the same network. No, they it's aba MBC train A, B, C the same.

So you're saying, you think, because nfl s the gold mine, you have to buy a shit.

horny skin. That's how IT works. That's everything. Life works. You want to go to this game, you ve got to buy these city games. That's IT fine. Yes, these device setting tickets, we all want to go to the same six.

because i've had this conversation with many people that you have to believe that every league franchise have top ticked, except for the F, L, like that feels gonna.

I actually, I disagree. I think I think major league baseball having a mega refine, I think analysis think is fine. I think hockey could be fine, I think. And if I literally think it's an N B A problem and it's it's very simple what the problem is, in my opinion.

what I actually .

think it's a Brown problem.

But he is the only person.

Yeah I think the as much as he's my favorite player, he is told him league back from evolving.

So he's gonna done in a year. Yes, and he's Carried the league for twenty years. And so a stuff and he is .

a very polar ized figure. So put like this, the people have voted for trump. They watch the MBA.

They think it's too political. They don't like, I don't. If you saw this this week, I was actually texting my friend anthy about IT Stephen a. Smith wasted on the brand because of the post. He posted a rich .

climate .

post. Yeah, I and I saw IT and I was like, i've never seen E S, P. N. Go so hard on the brand. And especially a 7a basically SAT shut up in tribe to lebron， like you are here to play basketball in the why you always talking about everything .

and and and I think so I I watch the whole club and I watch IT live. And then i've seen all the clipsed, which D V, I was saying was any criticize both Kevin, dan, rich, client and Brown. I'm not allowed to talk about baseball. Yeah, he said, I don't care what you did doing your persons.

I know that my point is those guys are holding the league back.

and that's what his point was. All these N, B, A, players now have pocket and they talk, but all they want to do is criticize the media. Yeah, and they feel soft.

That's the problem. They feel soft. And I think.

I think you know what I mean, if you want to like the elephant in the room, is these guys to make too much money that they can say whatever they want yeah.

that's fine. But i'm just telling you there are the problem for the league. I agree. So once they're gone and it's like.

no, but it's not because then you have joel en beat who .

does not want to .

play best ball in quiet later. His missed eighteen games were three months of the season.

Yeah so so I think I think that will change. That part of the league will fix itself out. Capitalism, you won't pay these people if that soon as the team stops making money, will change the rules. Right now, when I could pay, you think there's just smart st people in the world then fucked and lose money. So I think the problem with sports, particularly like the league, has always been bigger than the athletes and all the other sports in the NBA.

the players got Better than the league.

That will change.

And yeah no. So I think the real dynamic is in the nfl, outside of you know the Rogers and brides, obvious ly brees retired, but there are the ones who always can get the big contract. The rest of the people is you have to play and you have to perform because it's you get entered, you out, you going to cut back you and they just cut yeah and sake one barki he bled out tonight but they gave him for nothing yeah and the n fels game of throne yeah the N B A is like we don't care. Everyone gets their .

money yeah so I think that will change. That will happen. I'll just be capitalism gona change and it's going to make I actually think in five ten.

biggest problem is there's no american new stars.

I don't think this problem, I don't think you realize you're not around people. People hate the problem. People do you know? People hate lebron.

I know many people who do.

and they hated for political reasons. They do not want to hear his opinion. That is a problem for the league, not a problem for him.

That is a problem for the league. And so from a sport standpoint, they have to deal with that. People, literally, I know so many adults, they do not watch IT because of him, literally because of him. And so that is a .

problem for themselves of great .

I what I mean, I love him. He's my favorite athlete ver. But like i'm just telling you, like i'm not blind to the fact that he is the problem. That's that's tough for the league because he does bring a lot of energy the league, but the fact that the ratings are so low and he's playing well.

But you were intro, which is a red day.

and statute was neffer.

But they all scream for Brown.

E course, of course, but every seat was not full. Can you imagine in detroit, lakers are in town. I little looked at the people I was with them, like, do you notice this?

But it's different. They are so out .

the lines, games, your fucking .

and hold out every telling you.

This is why democrats loss because they just don't accept this reality. He's a polarizing figure. I am the biggest fan la bronze, and he was seventeen years old, but he's a polarizing figure.

It's okay. It's fine. He he doesn't matter to him. IT IT affects the league.

That's also Carry the league.

yeah. And now it's unfortunately time to pass the torch. It's time passing IT.

I not him. How about that? 我 和 shams .

reported the E， S, P, N insider who knows everything that next is likely as last year. So he'll do .

this tour so I can that's like goodbye tour.

That's great for the N, B. A yes franchise member cream yeah in the eighteen Young lapps lakes and they yeah they did the whole thing that was great.

And I think that will be block poster. And then I think the league just has to clamp down. You don't .

play you that's the because I running joke with a Anthony, uh, fraction with A N, B, A. And we just tweet like he's not playing again.

He's not playing again. So once they change that rule and making impossible for you do not make money because what part of life can you get paid that kind of money? And network, nothing. zero. Congressman.

yes. And beds parly making two hundred and fifty million dollars on this contract. Employment.

another hundred fifty before. exactly. Americans are fed up with that. You are work to get your money in america.

I agree. But how's that going to do that?

I think it's a problem. Yeah, will be IT. Will you take five years?

I mean, i'm like, our mom is obsessed with M, B, A and SHE text me all the time about these games. I'm like, but I do. I rather rogan Scott storch.

yeah, but I heard was blocked bus. He was great. You going to watch IT? I am dying to watch IT.

because this says a lot of good stories.

I was i've been around him a lot, like in the last fifteen years, i've been around him and like after hours parties and he pulls out the piano. He's so fucking in talented as a musician. And then when you look at his body of work, so Scott storage, if you don't Younger, in the nineties and early two thousands, listen to a rap sung Scott stories. You did IT again. He's litter on every hot song doctor dray.

fat joe so on the podcast rogan had a piano forum oh, no way and he said, what's your biggest song that you've done and still the area and he just started playing the keys yeah and he just did IT and he's self hot that crazy he's like my parents who have money to pay for piano lessons yeah, because I went to one and he goes here to get, just teach yourself the story's is insane.

I like great guy. Like really nice.

Like he said, he called himself a .

great day. He is a great guy I agree I ve .

got I ve in many times I actually the past yeah rogan and storch that's .

that's good. I'm excited .

because he is involved in .

yeah he worked with them but I get mean like he's just a good guy and like insanely talented like so insanely talented I was exciting to see my hope is I don't know how is doing now.

you know yeah he's .

he he said dos smoke .

doesn't coke anymore yeah it's .

not have seen that. Ah that's good and I am happy for you.

I still have twenty minutes but the whatever however long the episode is, it's really good yeah .

like if .

you followed rap in the last twenty years, yeah it's a great pison .

it's so good. And like you just don't realize like you know music when those industries were like there's a lot on sung heroes because we only see the artist yeah like I don't even think and R I P. Quinzy Jones who just recently passed there's a hit the great dock anyone quinzy Jones that came out a few years ago.

And when you look at quinzy Jones and his body of work, you're like, oh my god, this everything you listen to, that your love was produced by quinzy Jones. And depending on the type of music in the era music you grew up in, there's all these like kind of back figures that are like be loved, that like don't get appreciated. So i'm glad quinzy Jones got this documentation that i'll live on forever. I'm glad scot storch got a rogan.

I like IT yeah he says he's got a studio and Baker on. I don't need to get away from my amy because IT was too talks in a big miami guy and he can pop in when he wants to pop in, pop out. IT seems like the world.

to be honest. Uh, so i'm glad to hear he's a is a great guy. Um what is you you wanted to talk about .

the podcast? Oh yes so thanks for everyone who share the podcast ah that we recorded on monday with a mind of my wife k and colleen and epilepsy awareness. You got great feedback, actually got connected with moms from the podcast that are going to the same thing that wanted to just kind of talk about the journeys and had to navigate everything.

So the episode de was so important, even if like one family reached out, it's great, and multiple families reached out, right? And you know, this is like our life goal to just help people in the space. And we are fortunate to be able to navigate IT as best as we can and hope we have get the best outcome. But a lot of families can, and we're going to help anyone. So anyone in the above sy community that has kids, Richard, happy to help .

but tell him it's good to hear and you know listen to the pod and share with the family member of friend that might be going through IT yeah.

you be shocked the number of people that yeah have epp sy right one and twenty six actually have a diagnosed eliph y diagnosis. One in ten will have a seizure. That's not an insignificant number yeah .

that's a big number. Um that's good. I'm glad guys did IT glad, glad people connected with IT. And it'll be great to see all the people. Are you guys .

connect with again? great.

Really good. All right. So I want to talk about really big jersey might just sold for eight billion dollars.

yeah. So black stone, I took a majority state for eight billion. The founder started at at seventeen with a single sandwich.

And grew IT. He went through some struggles and ninety one that sounds like and then created the french ise model. Our good friend has twenty five josey mix.

Twenty five, a book is rich.

Five, that s are swiming I know twenty five .

twenty five is in saying, um alright.

well and getting necessary, getting messed right now .

like congrats, bro. I didn't know. I wonder if you got a piece that I Billy.

yes, so that the question I had to him. But that typically when private equity firms take over restaurants, this is the playbook. They cheap in the ingredients.

They increase growth margin, extract profit and the foods less quality. So like if you went to P, F changes today versus twenty years ago. P, F, js, twenty years ago was amazing. P, F, js, now sucks.

I didn't even know if that exists.

but whenever IT did exist after private that we took over and his comment was he thinks they're going to invest in technology, helped the big franchisers, which is he him and basically help them grow and without the one of two of jersey mikes franchisees. So he's bullish on IT. Um I guess we believe that his name so it's fine. He thinks it's a net positive.

I think it's a that positive too. I actually I am not really about the ingredient issue actually.

I that's what they pride themselves on like George mix first a subway. There's no question georgie mix is a Better sandwich.

So I think like you a lot, I don't know how much of subway corporate own versus franchise, but I think the fact that like IT is franchise, and if you listen to your franchise, I think you will be pleasant antal surprised on how important the franchise take. The quality of the food and in some cases, they have absolutely, uh, no control. But I don't know chosing mikes create, Jimmy Jones, create.

I love, I love both on a big fan of both sandwich es and and it's interesting like that IT got sold for this much because somebody is going through the other opposite, which is just like struggling and not relevant. And you know, you can make the argument that the idea of like just a sandwich is a tough business. And this market, when there's so much variety of what you can eat between fast food restaurants and fast casual, I mean, sweet Greens are absolute tair. They're on fire and it's pretty cool that they found like, hey, just make a really great product and you know the consumer will come and even surprising to go back for a billion because I don't know how much is corporate ot.

They're free chize that there's three thousand locations. So I think the majority is franchise is is .

just so like a building to pink, a crazy premium on some some sort of royalty. Then I got I got ta look into IT further. But I I was like shocked to see the Price tag for a franchise business.

Yeah, even if you think about where we are across the street, pretty much every business, one out a business that was F, N, B, your and jersey, mike was fine through of IT. The funny .

thing is, is named that mike?

What bitter.

So he bought mix sub as a seventeen year old with one hundred and twenty five thousand dollars. The ball coach from this football coach kind of football team is what? football? Because one hundred twenty five thousand dollars ince.

like a mother .

day for all, it's unbelievable. So buck is a great, great story. Congrats everyone. In both. Huge, right? Moving on.

One of the big retail uses all of in june and nail business, but that bought two hundred and what forty million bucks bought by um Helen of choy which is a portfolio company that owns brands like hydro last their own dribs o spray wax, ox ode, very very popular successful brands and all in june which opened its first nail salon in beverly hills in two thousand thirteen, is IT relatively new business. Yeah C O is si gives in total and gotten exit. Everyone says consumers is dead. All of june got two hundred forty million dollars and .

black on budget max. Consumers here.

Consumers here. That's why like pretty optimistic. I was talking a lot of people about like the terrorists. Everyone is obviously a hundred percent is happening at this point, and the majority of people feel pretty optimistic. They're not .

worried about IT. So kenric in from caddo, yes, I would assume means right? Yeah, he is really worried about the terrifying .

is actually but no.

he was saying from a macro perspective and he was on cmc saying that terriers are basically going to make ultimately, the consumers is going to suffer because you're not going to get affordable goods and you're going to inefficient manufacturer in amErica producing kids for the Price that the consumer wants. And he said, long term, that's going to diminish innovation. yes. And this is a guy that probably donate a drop. I don't know, but I would assume that.

I mean, everyone did, you didn't. Here's the thing about the terror that you don't understand that I think the average person doesn't understand is that if he's going to attack there, he's going to give you a break somewhere else. So whether that's a lower corporate tax rate, but whether that's a lower income tax rate, it's not like i'm going to tax you on a the tariff side of things and increase taxes sometimes so that the the real answers its inflation, it's inflationary.

And i'll give you cat problem yeah that's I I agree that I think if anything, they going to give you cash somewhere else to increase the goods here, the cost of goods here and all that happens is just more inflation. Um that's what I really think that the day happens. I actually don't think I hurt business is bad unless in certain categories like i've heard the tax like sixty percent because I know even by and put a hundred percent E V tax on chinese VS, I mean there should be five hundred percent.

We shouldn't allow chinese images into this country like I think they're certain categories we have to dead and I am very comfortable with. I don't want chinese controlled evs on our streets. I think that's fucking that.

So we know yet you see all over the city now yeah, they just partner with a chinese manufacturer for ever for their way. Mop, who wants to be in a way? Mail, if it's run by china, you say something negative in china. Guess what? Your car is going off the Cliff.

yeah. IT is like, hey, we're going to go to dinner. Bye, gone. I mean.

who trust that?

Yeah, there's fact we must tossed.

I think that's the dome you possibly do that has to be american.

That is if if you want use this, this is a marketing campaign. Way more might be done by friday. Yeah, tweet twenty four seven. Yeah, maybe he didn't find out about this year.

I would never get a after I saw that, I was like, I would never get in a small imagine if it's like the joke. Ration oligarch are always clumsy and fall off. Buildings can .

be the time about C, C, P, gun. That's what's gonna. En, yeah, I agree. Their tests way was over.

Yeah, that's a really bad move. yeah.

And before 一个 to our other talk.

you got talked about crypto.

what's going on cypher .

because we have actually recall recorded with you. We like sunday, sunday, but the we've yeah a little run up. yes. So november fifty I just liked IT up.

Bitcoin was out like sixty six k what do you think they cause that run up? And now it's about to be a hundred k one it's one reason only. So you're talking about like a thirty three percent return in two weeks. And obviously the trump administration is very procreative high sector charges sector is procreative head of commerce process pto everyones procreate to elands procreate to elon's provenance procreate to I honestly think j events got school cause we on well in terms of a prominent.

but I think that's good. I think you don't politically, you wanna be silent if i'm him. There's too many hours in the room.

You can cope with the elon zero. People can can play, compete with D, J, T, viva. You wax on T, V every morning.

Extra A T, V, fox on T, V. Those cast is that is on T, V all day. He's clearly been given the Green light from the dawn and said.

you I mean, trump even said, I can get one idea yeah just and one of those .

beaches so I think like j events should go in a cave, shut off, buck up like do the sleeping haven't heard anything from no yeah he shouldn't say a word for three years three years hoped the economy is not far a Cliff, and then you could become president.

So a lot of people have asked me about crypto in the last couple weeks, people that aren't in IT, people that aren't in IT. And they would just want to understand what everyone's thinking. And I think I have a pretty good handle on what's going on. So right now, crypto whatever s ninety seven ninety A K or something around the bitcoin, sorry.

Um I mean, like those, he is up like just four years. Oh my god. I think I think there is up like three hundred percent .

yeah obviously because he named the thing. So yeah bit going over around ninety eight. It'll be a hundred k any day now afforded with IT last week.

So the thing people have to realize that haven't been in this industry for a long time, three time, one hundred thousand for a full big one, evoy Price to ninety nine point nine nine percent of the world to own a full biton. If you didn't own IT already, then you think about IT. Four million coins are lost, like there in ocean.

The hard drives up, you can get access to the keys. That's for million inquires. Then microsys .

owns a ship load.

He knows someone that passed that probably has a seven figure bitcoin position in twenty coins and wasn't in the will that. And if if you're on queen base or any exchanges, if you're on the other exchanges, it's gone. If you're coin base, if it's in the world, like it's in my estate, if I die tonight, yeah a man will have access to my and there is a lot of .

funny business where that's going to disappear.

That's so usually you're learn ing the supply to like fourteen million queen.

I think that's aggressive.

Well, former are officially lost. I i'm just saying just the people I think I A .

little lesson that I mean, like not a lot of people that have a hundred point, I mean, you could look at up because so many people that have at least one hundred point, not many people, not many people, 对 吧？ So I think like I think yeah what is a million sixteen yeah like just sixteen fifteen million or accountable microstrip. Gic owns, I think most of them, but in l sor owns the and so .

my my point was the only people that can buy now at these Price levels or sovereign sovereign anyone can buy tech. Anyone can buy sovereign at scale yeah sovereign governments and international industry yeah black rock chappy, Morgan, goldman, blackstone, dentes its government buton, which is a small country, thirty eight percent of the G D. P is in picking and a sva or and they .

anounced hundred.

which is light if is one point one four billion year, and put turn a much more .

country than time there tiny company.

billion in earlier.

this kid just started buying IT.

So when they see people, when country other countries see people doing this, they're gona follow. So outside the U. S. Dollar, there's very few safe currencies. Even if you look at the thing about india, the rupee, it's devalued so much as and SHE is sold some property and she's like all they are offering seventeen percent at the bank yeah the rupee and I said, well, it's seventeen person nothing yeah worth .

this currency and .

that's every country yeah so that all going are buying this. It's been lifed this administration. The one good thing they've done for me is they've .

solidified thing, you know yeah.

but the point is it's a runaway train. And I said this for the last eleven years, but IT became Crystal the moment black rock came in. Yeah, once black crock came in, if IT was so obvious that everyone's gna follow and there's going to be volatility there.

you're going to get draw down.

You drop down. I don't think you're going to see bacon and thirty k. You see big eighty K.

I think big in a fifty K I know that the same thing like I could see, I could see google dropping thirty percent from here and that's a cash making machine because of the entire trust issue. So like there will be dry. But that doesn't mean anything.

That doesn't mean anything that never has yeah has been three ninety .

percent drawed down cycles.

The the point i'm trying to make is that it's clearly been solidified .

as a trip to i'm sorry, it's one thing on bitcoin. It's not crypt .

a no bitcoin. I believe the theory um and I think but the performance has reflect that so you can make armide unlimited capacity of a the the thing with theory the reason why IT hasn't gone up as much as bitcoin is because salona is doing all the mean coins and all the mean coins need salona and the main points are firing yeah and so salon is the mean chief .

which they have found the cultural levant but even even if even sona thea the the finite amount of bitcoin and the history of bitcoin gives you the best chance montem.

It's going nowhere.

Yeah anything is is like I actually think they'll be other crypto currencies that you can make way more money in. But like it's too risky. You lose IT all in five seconds, you could lose .

IT all and then you're on metal mask and you get swiped yeah, because the safe placed by crypto queen base, which has really, I would say .

tf is fine to you and what Robert find, because, you know.

actually great. Those are great, no question. Yeah, but to get the the me, the outsize returns a thousand two thousand years and you will think you worth a lot of money.

And then the the last thing I wanted to say was. Gold is a seventeen point two trillion dollar asset class. Bitcoin right now is play one point eight debating on the Price.

But in that wrong, everyone is already accepted the new goal so you can Price that in. And then i've seen a lot of pretty smart people say it's silly to think it's just gold. It's like silly to think uber just taxi. And the point how you extract the script people is anyone with this phone, which is, you know, five billion people can buy five box of picking yeah and they could buy tx a goal .

to you could buy a goal etf and be.

have exposure. Now Younger people are rather unwind.

The I the one thing I don't have no idea if people like I think institutions, you're gonna pile on to bitcoin. Does a Young person want to own a hundred dollars a big coin?

No, they want a new coin. Yeah, they want with. Yeah, they want pepe. Yeah, they want. The sneaky cat is big one.

Yeah, is that? But yeah, i've seen not a good stuff. good. The music. great.

I I bought three mean coins and a really small amount, just pay box dozen books.

Give me the real number.

Don't be a positive. K, I know twenty dogs, one thousand. Give me a number. Why is such a pussy? Because I, do you talk about your finances?

I'll tell you for what I, but what you 外面， i own what .

I have bacon， nice, nice. so. You listen to anything .

I know might be is different. I actually believe everything you said, but i'm a profit taker. No, I will buy like I can. I tell you, the last five, six years, crypt paid a lot of my bills. I would buy, I would buy IT that would buy big coin.

And we we're probably the only people that made money on N N F.

T S. I am not even joking. I made like more than my annual salary on three occasions in the last five years just to pay bills like I was like fucker.

I saw on my bitcoin, just to pay bills. I saw on my eat to pay bills. And july of twenty three, I bought back at twenty three dots. I was sitting at home. IT was twenty three thousand interesting .

because I remember january touring through you said bitcoin will be twelve thousand.

And I buy twister. I when I see a cheap, I bye. I'm i'm a discount apple. I will always buy discount.

I saw cheap and I buy and I have that actually owned more, and I actually sold a lot, a lot along the way and just get cash. But i'm not i'm a believer, but i'm also like comfortable taking a profit. And when I rows down are by burn. Yes, I buy back into IT. I'm not like I don't need to hold IT for the purposes of proving anything I want to make money and I am I believer .

I don't hold IT to prove anything. I hold IT because I think it's silly to sell.

So if you look as you don't need .

the money course, I could use IT. Yeah, you can do .

anything differently if you got you saw a couple points. You follow a couple points. The A, T, M, you can care.

But I will say if you look at any chart, the supply demand has inverted, meaning there's access demand and a lot less supply with finite.

which I like. That's the best thing about IT, meaning that people don't want to to sell with this rate. Now even me, who's a usual seller out of good, good and gun.

you want my next big coin prediction before a prediction, two fifty k by june.

Two fifty. K, i'm making your dancing in during the trump dance. That's the only reason why that is a Young man. I say Young to .

throw me a touch down and that's a touchdown.

That's fine. I, well, we ve got the park of three touchstone. You could do the dance. I mean, this is your greatest president for you. Everything you believe in this guy believes. Here's the thing, I don't want to talk about the politics, but the one thing, every time I listen to a pie, cast the news, the biggest, and we can end on this is, i've said this, I think the day after the election, whatever we had that episode, whether you like IT or not, some of the smartest people in the world in government now, you have people that are so pro innovation and change. And you may not like the tracked of the dose and .

the dose cast .

and they're going about IT, but though the island were fake kind of experience that we're all seeing right now, experiment.

I would say.

is how Young people get engaged. transparency. Why is cyp to popular? It's extremely transparent. It's one of the foundational reasons why crypt to was born like I want to see everything it's on the fucking in black chain do just like, alright, the fucking department of fish and farm is spending a million dollars on parties okay, back come gone and I think we're gonna. The history books will look whether they are successful or not.

They're gona shift the mindset of how we should actually govern as a people we all know. And I don't keep your democrat, republican, independent, libertarian. The government is so fat, the government needs olympic more than anyone else.

They need to be gutted. Such waste has been happening. And then the fact, i'm not even like a, like a big technology person, even on the technology, dusty, but I never liked that the U.

S. Government did not embrace elon mosque. I didn't like the U. S. Government does not embraced market recent and ben horowitz and all of these like legends, these people change the way we live.

Travel's conic do you? Member, when travis went to the trump board, when the date the the first couple of months, you know, trump hat, the economic forum travel's conic went, but and he was blackboard, he was looked as an outcast. He was trying to work with the U. S. government.

yeah. Now everyone knows you have I mean, you have to work with whoever in power if your business person, yes and no, you don't have a choice.

But I think the problem was as that previous is that if you don't online with some social beliefs, you weren't allowed to to alive yourself. And like what happens is that the most innovative, the palmer lucky, the iron mask, you forget what they actually believe, but they're brilliant and it's now attracting such smart people to be involved. This like they're going to start like read the like.

Can you imagine U. S. Was shutting, trying to shut down everything cyp tor related. The more unlikely I saw there. Give me a big coin reserve.

That's a million a coin.

exactly. And who's going to do IT? Not the democrats is the republicans. They are the party of innovation, which is crazy to think.

what's all democrats that moved over? That's the funny part, right? They push every way for what for .

some stupid social beliefs that no one actually believes in. That was a problem .

and they use media Better. There's actually a great article um dan fir he's one of the positive amErica guys. You're think they make a lot of money and is angry .

lives and he .

wrote a like a sub stack that I read this morning just talking about how. Owning that democrats didn't use media properly and he worked for obama is one of his like, state strategies. And he's like, yeah, we fucked up.

We thought C N, N. Meet the press in sixty minutes mattered, and IT doesn't. And the republicans found all these different avenues to get to people.

And we didn't do IT. And we need to rethink how we reach people because we don't. This is gona continue because he obviously is very progressive democratic values, and he wants to push the democratic party forward.

And as any money, that's the problem he is no power but .

the point that he's even self reflecting .

yeah he's smart guy but like and i've read this stuff, he's a very smart cut but like they're not they're so fucking argan, they're not going to change the thing.

I think they will now, because they got smacked in the face, I think they have to be to death. They could be to the like, something else.

Something has repealed that so repulsive. Just be like everyone gets to shoot person you don't like in the face, the gun. Then maybe they'll .

change something that everyone on the democratic side and whoever the next democratic cannot, it's gna be. You have to go on your rogan.

It's not just joo gan. We don't want to to hear your bullshit.

No, but the pain is trumps ed bullet on rogan. He doesn't plush you if you're you're important.

of course, always said, I said that when you didn't believe he would go on Jordan, I knew he would and I knew he would not get push. You do not fuck with the presidential canada of united states and said, never you do not because it's like they are, whether you like their beliefs or not, they are gods. But.

you know, the funny thing is, people that are successful don't understand his importance. They don't realize how big do rogan.

S J. Rogan like to do on the weekends? Commented on u fc, you know what? Really rich, smart people think that stupid.

And it's the same thing. It's looking down on people. no. And is this is the quintin al democratic strategy is we are the elite, we are the educated. We are Better than everyone where to look down on people which wrong with watching people fight or watch football .

or talk about U. C. I tell people. And now, like people of means, all some on cold plunge.

I like that. Rogan, yeah. He created that whole industry, the movement, the whole movement that this is really beneficial.

IT was him. And then P, R, I, T, I started talking ment, then Andrew, hustings, ted talking. They created the old.

And those industries are massive because of him. Yeah, he created this whole wellness thing. Oh.

but he's done an intellectual elite. A and and that's why.

Then I think that's what the problem where people are like, especially just successful people don't want to listen because thinking just as about IT, he's aren't the brilliant yeah I listened to him all the time yeah and he is interesting conversation with people technically but he also voted for bernie .

yeah but he's the face of marga. Now is far as america's concern. The if you look at like dumb reporters, they think the reason why trump on the jog.

they will credit him for a part of IT. Yes.

yes. And they but i'm telling you.

as a listener of this podcast and even our cousin who's very liberal, she's like, i'm glad you listen like you should this is a what rogan, because I mention SHE is like, where to hear that? Yeah like, do you listen to them most? Again, you glad you listen.

I know you liberal, yeah I mean, I think like I think IT is just a common arrogant of people like looking down an opinion that's not theirs and then then IT IT IT breaks your heart when you find out who the actual person who gives that opinion is and you see it's like, what is joe and care about? He likes two things, U, F, C. And comedy. That is his .

passion and health wellness.

okay, but like U, F, C. And comedy is what he built his bike here. And that's not considered intellection elite.

It's just not i'm able, as a person of independent thinking that I can disagree with them and still listen to I don't agree with a ma code vaccine. You may I do. I can still listen to him yeah and not get right out yeah.

Most people can. The problem the reason why is maybe because you've been around people that are not intellectual needs, and most people in amErica are not to run intellectual needs. But we know this. I think you posted something about barrak.

Oh yeah, we we should actually end on that. That's .

something about when you at the table I agree, these people .

so let me litter wind. Barack obama was on the pivot podcast, which is ryan Clark. He was a stealers. Suitable champaign .

podcasts bean straight up. No guys a fuck about that podcast doesn't matter.

I'm time for the clip. yeah. So ryan Clark, it's actually pretty big podcast he's on. He might be he he .

need to but he needs to be .

a rogan I think that might happen yeah um so anyways, brock obama's on his podcast with rank Clark foota player super ball and he basically said he's shining like because their pocket is two athletes. And you could imagine who their audiences not harvest letes. Not people they went to watch and not people.

They went to stanford, and he was trying to empower people sing. I was at harvard, and I saw my peers, and I was a one of fools. Then I went to the U.

S. Senate, and I was, I got these guys that smart. Then I became president, and I saw who i'm dealing with as I go.

They're not that much. They're not all that. Then I went to the g. 7 and met with the biggest leaders in the world。 And I thought, like a lot of people that are incompetent. And his point was, don't get intimidated by people with fancy titles and just believe if you actually do the work yourself, you can be at the table and not be intimidate.

And i'll take this back to me personally that i've mentioned this before, years ago on the podcast, when I went to wall street as a junior intern in investment banking, I was a USA. You see a school now IT wasn't twenty years ago when we went, and everyone of some harvard, stanford, warton yell, princeton, like, you name your brand name school and I was kind of like the outcast actually my roof and training was from university, colorado, who is now fucking killer at founders fun. And we both like, oh, man, we're like, don't belong in this environment and then we went to training and we all did the testing stuff after like they they put you through all these testing and we scored very well and we're like, these kids aren't that's more what why are we intimate by them?

Then we both went to investment banking the first year, and we both were top to, and we are performed everyone, and it's so easy to get intimated. And then the second time this happened me was when I started venture investing when meaning Anthony y went up to silk valley, we were like, kindly looked at like clown. They're like, who are these l guys? Knows rapper, what the fucker y guys doing here? And then we started meeting people like, what just as much as these guys, we can do this. And we did IT.

And that's what happened in politics. Don't trump came around, everyone said he's an idiot and he proved IT doesn't flud matter.

And I think, no, IT doesn't. 我不， we weren't idiots though.

No, no.

neither to see he's so the problem.

what comes down the the thing that I dislike the most is don't judge a book by its cover. And I think in life in america, we do IT all day, whether it's kids in school, professionals at work, politics these people don't like, though you said a jerod is a buffet bold. He's a native.

not a native, but he he would steer type of is not an electuary.

Yeah, exactly. And I think that in seen completely insane.

If you think about what i'm into, you would never think I would be a joe rogan fan. You have meat head, made meat head.

You like sports. What else you care about? You care anything as nobody talks .

like a beekeeper. I was an absolute I know a .

couple of big keepers. You do yeah, we have went in office. I here's my point is that like .

i'm just saying if you were to go around the country or go on any twenty people and I give I just hand my background of what i've done in last twenty years there, like there's no chance to .

listens to join ah that's a democratic problem. That's a democrat party problem because everyone who is an elite ite looks and act a certain way and amErica is not like that. You, you go to the neighboring coffee shop, that dinner? No, what's talking like talking down to people.

That's why I think the biggest opportunity for amErica is actually the intellectual lead does not look like I did twenty five years ago, not ten years ago. It's not some kids winter navy school that is that knows everything, knows the people that like listen, the smartest people in the world listen, not talk, listen. And and to give joe rogan credit, because I really like the fucked in podcast, because it's a horrible interviews, in my opinion.

He listens. He's an incredible listener, and that is what makes really smart people, not people that are lecturing people all day. And intellectuals like to tell people what to fuck can do all the time.

Yeah, now I I think you're gonna see a change because I I sensed IT from the pod save guys. They've done a lot of soft reflection because I went through all their twitters.

I should be with that. I should kick their ads.

I should told them they're at the place we go to a lot all the time. You can see them.

I saw them. Okay, well, they should come up to me. I could kick them as six months ago. Got him the shape.

the whole crew.

Yeah, right. They should see me because I know they try to ride me off. I don't write back.

I think, I think the democratic party will change. I have hope that again.

no.

I think the most. They got smacked in the face and they all know IT. The numbers are there, the data is there.

There is no denying where the country stands. Lost the house, lost the senate, was the present. You can't just act like a jack anymore. You gotten just change.

Yeah, you have to alienate people within the party to do that. They to do that.

I think they I think just my only reference point is that because they kind of were the defective, they like the joe rogan of the democrats.

were protest. But yeah but they were like lecturing ing people today. I would listen .

what on apple whenever they put on an episode. They're massive and they've done a lot of self reflection. I seen all the their posts and. And I think if they're willing to do IT, the Operation on people will start when they .

embrace people with different. They don't look like them like antonia brand was a morale go than the election everyone think sees a joke. Democratic party would never embrace antonio brand.

He's a tough one in my opinion, but he was there. That's fine, yeah, but that's kind of trumps vibe. Just bring the miss fits in.

I don't get the america's misfit, but I don't think they are want to misfit. I don't think rogan to misfit. I don't think, elon, to misfit, it's just people that don't don't agree with them.

He wants a hate guy.

He's a hate the guy. But antony Brown and the .

great receivers of all times, do you see now one of the great receivers of all times? He'll go the thing. Okay, how are things that is insane? Do you understand how the fame and nf is? Like .

you're IT. You're at the peak of.

he's too. He's careful. C, C, T, B, right? Let's rap up. We are a couple shadow. You can read this. But we got here um first one jen Wilson, I appreciate your loving avoca for families and our special Angels among us. As a public school teacher in Virginia with four classrooms for special needs and a class in every gay grade .

that .

mainstreaming in my school, i'm a strong advocate for educational equity for every child. Keep fighting to give mab what he has a right to have is equally important for all children to be exposed the differences for genuine acceptance of all. Thank you for that.

I actually want to read a mrs. Paths, dramas. Mom SHE SHE text me a nice message.

Um she's in the education world. She's a teacher. And SHE said, we have special needs units at each for three buildings. I just want to mention their valuable addition to our school in terms of things, are the students are hearing learning from that. They go beyond books and learn tolerance, acceptance patients, vulnerability lessons, life lessons. Other schools are missing out um I hope you figure out how you can get map a and all other kids that people that listen that are dealing with, you know various issues, uh, education so that we're making a difference one by one.

Exactly last one from logan in five, five, nine, six. Bless you guys. This was incredible to listen to.

Appreciate you sharing this for everyone. You are also strong, immediate. Donate now. awesome. Well, thank you everyone. Thankyou, my week. We'll have an episode on wednesday and then set you off into an incredible weekend. My only request i'll says on wednesday, just a reminder, when you get to thanksgiving dinner, please ask everyone who they voted for. Are you see IT?