CEO MADE $120 MILLION FROM HEALTHCARE

Episode Transcript
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Speaker 1 (00:01):
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Speaker 2 (00:43):
This episode is sponsored by Greenwood. My graduates from my
school being forced back drop Bank Drop Mike drop back
drop drops. All right, guys, welcome back, eyl. We are

(01:08):
in La Sunny, Los Angeles, and this is something that
we've been looking forward to for a while. It's gonna
be a dope conversation. So healthcare is actually fitting because
we just spoke about this on Market Monday's House, just
thinking healthcare is the biggest business in the world. It
makes up twenty four percent of the American budget, which
is the biggest by far. Second to that is the

(01:29):
military I think of like fifteen percent. So when you
think of businesses, a lot of time we think of
you know, a lot of different industries, but people don't
necessarily think of healthcare as a business. It is a business.
The biggest business is recession proof. It's everything proved, big business.
People always die, people always go to the hospital, people always,
you know, get sick. So it's one of the things

(01:49):
that has been around since the beginning of time, so
isn't going anywhere. So today we have the privilege of
speaking with not just any entrepreneur, an entrepreneur that has
been in the business for a very long period of
time and has been extremely successful. Tommy Duncan. So you
might have heard him when we when we mentioned his
name in the Rick Ross interview. He has a company

(02:12):
called jet Doc and Rick Ross is an investor. I
think he invested like a million dollars into the company, right,
and so we mentioned him during that interview and we
spoke about it briefly. But he has a vast career
in the health industry. He actually sold his first company
a while back need about a million million and a half.
And then he sold this other company and then did

(02:33):
a whole bunch more money. Yeah, over one hundred millions. Yeah, yeah,
for sure. So and now he started jet doc. So
it's a very interesting conversation, I'm sure, a very educational conversation.
And we'll be remiss if we didn't acknowledge our brother
Dame Dash, who we have a mutual relationship with. So
game actually just wrapped up a movie on Tommy's life

(02:56):
called The Prince of Detroit. So a shout out to
my brother, Dame Dash. We was at his house yesterday
and he showed us the trailer to the movie and
he was very excited about it. He's very excited about
you as an entrepreneur. You know, gave us some background information.
So shout out to Day. Yeah, shout out to Daan,

(03:17):
So first and foremost, thank you for joining us. Appreciate it.

Speaker 3 (03:19):
Hey, No, it's good to be here, man, And it's
at Prince to Detroit film on IG Yeah, okay, yeah,
you gotta check it out. But here's something that's funny.
You talk about healthcare. It is by far the largest
economic injured in this country. But it's ugly money, so
no one really pays attention to pays attention to it.
You know, it's not entertainment anything sexy like that. But
I just got back from Paris for fashion Week, so

(03:42):
that the hottest show Balmon and I was there with
a group of ten couples which were the VIP clients
for the country, And out of those ten couples, at
least five of the dudes were in healthcare. So you
think about fashion, all this sexy shit. You know, Cardi's
there all set and all that stuff. Yeah, that's part
of it too. But the folks with the money is

(04:02):
actually spending in healthcare. Right, So like Rashad, I live
ten minutes from where we are, and my neighbors most
of them are in health care.

Speaker 2 (04:14):
That's interesting.

Speaker 4 (04:15):
We're in Hollywood. In Hollywood, they in healthcare.

Speaker 2 (04:18):
Yeah, so how did you get started? Yeah, you're a
black man from Detroit, Michigan, So how did you get
started in healthcare? Because the interesting thing that Dane was
talking us, he was like, make sure you're asked him
about this, Like it was like his family is already
in the business, Like he actually already had the information
and the knowledge and he grew up in the industry,

(04:38):
and that's something that's very rare, especially in our community,
Like we don't even go to the doctor majority of
the time, and we have a bad relationship with medicine
unfortunately and doctors, so let alone actually being in the business.
So how did that go about as far as your
family and then you growing up in that?

Speaker 4 (04:55):
Yeah, so I did you know?

Speaker 3 (04:56):
My mother was always been in healthcare and she got
with my stepfather in about nineteen ninety, so the time
I was ten years old and he was entrepreneurial, she
was academic. They came together and ended up buying a hospital.
It's one of the last black for profit, black owned
hospitals with the neighbor It was called Southwest Detroit Hospital,

(05:18):
but they renamed it United Community Hospital. They bought it
from hud It was the seventy five million dollar hospital
when it was built, but they bought it for two
million dollars because it was in receivership bankruptcy. So they
bought that and then they coupled it with a HMO
Health Maintenance organization essentially an insurance company for low income

(05:39):
people people on Medicaid. So they operated that through the
nineties and then so when they operated, I grew up
in it. So literally, when I was twelve, thirteen, fourteen
years old, I was on the sales team and I
would go door to door in the projects and you know,
different communities where there was a large population of people
and go door to door and ask people to sign up
for Medicaid.

Speaker 4 (05:59):
My parent company is called Ultimate, So I.

Speaker 3 (06:01):
Grew up selling people on health insurance for low income.
And then the other time I spent I was actually
at the hospital painting the basement, being a janitor and
all that kind of stuff. But through that by Osmosis,
I learned the business. And uh through the nineties they
had a business. I think if their apex, they're doing

(06:21):
about forty million dollars a year in revenue, which at
the time was a whole lot of money. You know,
now things are different, it's a lot more money out here,
but then that was a lot of money. They employed
the most black people for any black business, and that's
how I grew up.

Speaker 2 (06:33):
You know.

Speaker 4 (06:35):
Then I went to Fourida and m got my NBA
in five years.

Speaker 2 (06:39):
You yeah he went there for yeah, yeah, who did
my brother? All right?

Speaker 4 (06:44):
What happened?

Speaker 2 (06:45):
He got home sick? He went with to Saint John's,
went back to New York.

Speaker 4 (06:47):
He got homesick from fam. I never heard that.

Speaker 1 (06:50):
Yeah, probably was there around the Saint John h that's
his story.

Speaker 4 (06:54):
I ain't withally.

Speaker 3 (06:56):
We told y'all, you probably got some babies running around.
The fan was amazing. But I came back with my
NBA and I thought I was going to take my
family's business to the next level, and unfortunately, around the
same time, they end up losing everything. So you know
what most black businesses do, particularly then without mentorship, which

(07:19):
is what you are providing, which is what's missing in
our community, mentorship.

Speaker 4 (07:23):
So what happens for us is those that.

Speaker 3 (07:25):
Are entrepreneurial gumption go out and then usually like anybody else,
we are met with failure. Right, it doesn't go right,
and then a lot of times, unfortunately we don't try
again because with scar financially, emotionally and all that kind
of shit.

Speaker 2 (07:39):
Excuse me, all that kind of stuff.

Speaker 3 (07:42):
But that's what the wisdom is when you have the challenge,
and so the right thing to do is come back
into it and try again, do it smart and be successful.
But most people, for whatever reason don't do that. But
my parents ended up investing everything in the hospital in HMO,
so much so that when it all went under, they
had no money in the bank. Like they put up
the house in the business, they put it all in there,

(08:04):
so we had the biggest house in Detroit. They literally
put it up trying to save the hospital when they
started going under, versus realizing your business is important, but
it's not you. It's separate. It's a separate endity. So
treated as such. But of course they didn't. And then
it was just like you know, American gangster.

Speaker 2 (08:22):
When he sees out, huh which part when he lost
the house and.

Speaker 3 (08:25):
They lost the house, they lost the first and everything,
the diamond my mother had a twelve care diamond ring
probably worth a million dollars. Now had the hawket, you
know what I'm saying, lost everything. But for me, then
I decided, you know, I'm going to take it and
just build my own company and live on a legacy.

Speaker 2 (08:43):
So I did it. So I did that.

Speaker 3 (08:44):
Twenty six I started my own healthcare company, my first one,
and then sold it.

Speaker 4 (08:49):
By a year later. That was cs CCS Care Compensation Specialist.

Speaker 2 (08:53):
So what was that? What kind of company was that?

Speaker 3 (08:55):
So there was this dude who used to work for
my parents selling insurance. Like I remember mentioning going do
it door Medicaid. Well, he was a real smooth guy,
kind of looked like at the bar's brother. He name,
I can't name the name, but anyway, I heard that
he had started his own company doing Medicaid enrollment for hospitals.

(09:15):
So he had got this partnership with the CEO of
a hospital in Detroit, and the whole business was someone's uninsured.

Speaker 2 (09:21):
By law, the hospital has.

Speaker 3 (09:23):
To take care of him no matter what the case
is that they have no ability to pay. But then
if you could do the paperwork to get that person
enrolled in Medicaid. So the ID you know, doctor Bill's
pir certificate, things that proved to the state who they
are Medicaid was then retroactively reinmbursed the hospital for services.

Speaker 4 (09:40):
And he would charge like.

Speaker 3 (09:41):
Twenty percent of the reimbursement, which you could have a
nick you baby cost a million dollar bill, be a
million dollar bill, right, so if you're getting twenty center
that he made twenty thousand dollars to doing paperwork. He
was making so much money it was crazy. Like he
literally was married and bought a big house and moved
his girlfriend to the house with his wife and his kids.

Speaker 2 (10:00):
Let the girlfriend lived with that.

Speaker 3 (10:01):
That's kind of money. He was making everything. You could
do anything with enough money.

Speaker 2 (10:05):
Detroit, Detroit play.

Speaker 3 (10:06):
I'm saying, when you at Detroit something like that and
not my household ain't gonna ride. But I'm saying, like
a Detroit at the time, he literally moved his girlfriend
with his wife.

Speaker 4 (10:13):
He had palm trees flown in. He was making money.
But my whole thing was in to d where it's colored.

Speaker 3 (10:21):
But the whole thing was he had lost it because
they had found out that CEO was in his pocket
or vice versa, and so he lost the contract. And
so me, yeah to the street, Okay, boom, I'm gonna
go figure out. I'm gonna get the contract. So I
went and met with his chief operating officer and persuaded
her to come work with me, and then I did

(10:42):
some other things get a contract, and that's how I
started my first company.

Speaker 1 (10:45):
Can we go back just for a second, because you
were obviously were born into the healthcare industry, but you
your entrepreneurial journey had.

Speaker 2 (10:53):
A lot of stops.

Speaker 1 (10:54):
Yeah, right, So I know that that you had the
ice cream truck at fam you did, you did the
fish and sandwich. What did you learn from those businesses
that said, you know what, this isn't gonna work, because
you immediately said they didn't work, but you learned.

Speaker 2 (11:07):
Let me go back to my passion.

Speaker 3 (11:08):
No, for sure, So ice cream truck, like you said,
you know, I was doing that because to my surprised
I mean, how you in Florida don't have ice cream
trucks and Detroit it's cold to much out of here,
you have ice cream trucks during the summertime. So I
had my tahoe converted to ice cream truck. I was
playing Masterpiece of ice Cream Man, which was you know
what I mean, the biggest song on the radio at
the time.

Speaker 4 (11:28):
But you had to have like what ice, you had
to have hot ice.

Speaker 3 (11:31):
In anyway, then my ice cream was melting and I
really didn't like it.

Speaker 4 (11:36):
Like I was. I enjoyed being a dude who pulled
up in the tahoe with.

Speaker 3 (11:40):
The ice cream Man playing, but I didn't like the
process of working on the ice cream itself. Then I
end up starting these these sandwich shops, the Fries Palm
Fritz Fries in the Cone because I was in Amsterdam
and the coffee shops drinking a lot of coffee came out
and I was hungry for whatever reason. And at these
fries in the cones, I'm like, I'm about to be

(12:00):
the next Rondalm McDonald. I'm about to bring this stuff
to the United States. I'm about to kill McDonald's. But
I came back and I did it. And I quickly
realized even though I could grow the business because I
could sell, I didn't like coming in, you know, having
a machine where it had to cut and peel the fries.
There's too much work, and then you have people complained,
then the grease gets dirty. It's just I didn't like

(12:22):
the businesses so so even though I had built them,
I didn't like it, so they ultimately all failed. Even
though I got in the airport, I was twenty two,
I had a restaurant in the airport. I was in
the malls on the street side next to Florida State.
I didn't love the business, so it wasn't working. And
then I got lost in the business too, Right, So
what can happen if it's not working the way I plan?

(12:42):
Which be the next Ronom McDonald? I started doing different things.
I lost my way.

Speaker 4 (12:47):
So then I added shrimp to the menu, right, so
you know.

Speaker 3 (12:50):
Black folks love shrimp. I'm up late, I'm open late,
and I need to have fried shrimp. Well, then I started.
I was in Florid, so said let me do some
Caribbean things. And I had some Caribbean foods and rice
and being so before you know it, I lost my
way with the company with a business, so ultimately failed.
But then I went back, came back to Detroit, and
I came into healthcare because I knew healthcare. I knew

(13:10):
it was I even knowing that I knew it, you know, Like,
so the biggest decisions I made in my last company
that I sold to Blue Cross, I knew just through
Osmosi's living, I mean, just living my life as a kid,
remembering decisions that my parents made in their health care business.

Speaker 1 (13:27):
Yeah, so you ended up selling the first business, right,
but you didn't just take cash, right, so it was
like a stock option and.

Speaker 3 (13:34):
The first healthcare business. Yeah, I got stock options. So
that's a funny story. I don't know if you want
the whole story, but long story short, this company I
was doing back in work because I didn't get a
primary contract I was doing back in so basically their
primary vendor. They couldn't ge folks and roll to Medicaid.
They gave me the second shot. I was a garbage man.

(13:55):
But for me, of course, I got them all to
prove because that was my opportunity. And through doing so,
this big company who just was on this pathway to
go public, had decided they wanted to come visit me
and either do one of two things, do a strategic
partnership with me. When selling me charging twenty percent of reimbursement,
I charged eight to ten percent. But I would get
a bigger volume of work or they would buy my company.

(14:19):
And so they came to visit me. I was in
the shared office space like we work. I just had
one office. Well, I had like two officers in there,
and they had a shared conference room.

Speaker 4 (14:29):
And I paid.

Speaker 3 (14:29):
People to act like they work from me. You know,
I paid like forty bucks a day. I gave them
a one pager with you know, three bullet points. This
named the company. You know what I'm saying. This is
one page, you know, one line of what we do.
And anyway, so I sold those folks and I didn't
want to actate to work for me. But I sold
the people on buy my company and I got stock options,
so they made me a scene director. They gave me

(14:50):
which is the time I was spent myself forty grand
a year my own company. They paid me two hundred
thousand a year. I was twenty seven and they gave
me a thousand stock You know, That's what Dean was
telling on us. He was like, make sure you asked
him about that. He started a company with a virtual
regio's office and sold the company.

Speaker 4 (15:06):
D I did it twice though that was my first time.

Speaker 3 (15:10):
Second time, I want a half billion out of contracts
at work. You know what I'm saying about the dumpsters
on the phone, like snaked, Yeah, and I did that.

Speaker 2 (15:19):
So how did you had to read this office space?
So all right, let's let's get into that situation. So
you you you started the company, but in order for
the company to be sold, it had to have looked
like more than what it actually was, right, So that's
why you got the regious office space, which anybody that doesn't
know Region's office space regis is like a shared office.

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Speaker 3 (16:34):
What makes I try to use this business in Georgia
and to be like a subcontractor? But I learned quick
learn is no real money Here's one thing I'll clarify
is my lane has been healthcare. That's really the niche
of government contracting, because really that's what I was doing
once I got on the side, and my.

Speaker 4 (16:54):
Last company was contract with the government.

Speaker 3 (16:57):
So there was this company who I was going to
be there the sub who's trying to do some work
in Georgia, and I quickly realized there was no big
money in that. So I want to get a Medicaid
managed care because Obamacare had just passed, which meant more
people on Medicaid, which because of the way I grew up,
I knew folks on Medicaid meant more people in medicate

(17:18):
managed care.

Speaker 2 (17:18):
So let's just break this down. Medicaid is the government
program health insurance. Yes for people low income people. Yes,
so you get commissions if you signed people up for Medicaid.

Speaker 3 (17:34):
Well know, the way it works is if you actually
own the insurance company, which is what my parents had
that's providing the medical right, and.

Speaker 4 (17:40):
Then I got it. So here's what happens.

Speaker 3 (17:42):
The government has the money and they're responsible for paying
all the bills for people on Medicaid. All right, Well,
what's happened is you had the providers, the hospitals and
doctors and service providers, which is build a government over
build them two or three times for the same service build.
You know, somebody could be EAR level five, but they
our level two, which means not that sick. But they'll

(18:02):
build an EAR level five, I mean super sick. They
would get more money for it. So they would double bill,
triple bill, do too much. And so the government decided
in order to manage the spending, they need to put
a police mechanism in the middle to police the providers,
and those are the Medicaid managed care insurance companies. So
they contract with us and they pay us a health
insurance premium per member per month they assigned to us.

(18:26):
So in DC, my first contract, my first month I
got they signed me thirty thousand people. They're paying me roughly,
you know, five thousand dollars a year. They pay me
one hundred So I was getting like twelve million dollars
a month, five thousand dollars per person per year, a
person per year. Yeah, and I had and they signed

(18:46):
me thirty thousand people.

Speaker 2 (18:47):
So do the math.

Speaker 3 (18:48):
It's one hundred fifty million a year divided by twelve,
like twelve million a month first contract. Before that has
to be all the hospital bills though, say time I
member goes to the hospital, the doctor, the dentists gets prescriptions,
emergent transportation nine emergeny transporation.

Speaker 4 (19:01):
I pay for everything.

Speaker 3 (19:02):
And if those bills are greater and they have my costs,
my administrative costs to pervert, provide the service, marketing, et cetera.
If my costs are greater than what I.

Speaker 4 (19:09):
Got paid from the government, I lose money. So I'm
at risk.

Speaker 3 (19:13):
But if they're lower than I make money, Okay, So yeah.

Speaker 1 (19:18):
No, So are there things that you can do obviously
to prevent Yeah? Yeah, So, like what are some of
the things that.

Speaker 4 (19:24):
I was out cold? I was the coldest with it.

Speaker 3 (19:26):
So the average company in my industry is doing one
point seven percent profit margins. You've round up to two percent.
It's two percent, one hundred and fifty million. It's like
three million dollars a year, right, Well, that's the profit
profit right, And there's some advanced accountants that look at
all the past utilization patterns. How many times go to
the mergercy room howny times ago? Impatient It means they

(19:46):
spend night Hospitalee one night. How many folks are homeless
and they have how many folks have diabetes? How many
folks you know need a transplant? And they make all
these assumptions to say, Okay, well we expect your cost
to be X, so therefore your profit can be two percent.
But of course me because Troy you the same way.
I believe if somebody gave you and I got my

(20:07):
coming up to twenty million revenue. So if somebody gave
you twenty million dollars in revenue. By the way, a
lot of companies lose money, like United was losing money.
Are you gonna make money lose money? I'm gonna make money,
right yeah for show. It just hit me, It just
hit me. Give me twenty million dollars. I'm about to
make some money. Yeah, and I'm gonna make a whole
lot of money. So they was making two percent, I
was making ten and then my ten was round and down.
So I was making like twenty million a year and

(20:27):
I should have made four million year.

Speaker 2 (20:29):
How come you was able to make way more higher
profit margins in them?

Speaker 3 (20:32):
Because big companies are built with mediocre, mediocre people, right,
So Blue crossby Shield and these big companies, United Healthcare
sent ten. They're big, like every big coming, it's just mediocre,
right because no one really gives a shit because they
don't own it.

Speaker 4 (20:46):
But me, I want forty per cent of my company.

Speaker 3 (20:49):
So if I make twenty million, eight millions comeing to
Tommy Duncan's pocket.

Speaker 4 (20:53):
You feel me.

Speaker 3 (20:53):
If I make four million, I'm only getting eight hundred thousand.
So what I'm gonna do. I'm about to make the
twenty I do it. I'm going through the data. So
I became in actuary in my own mind. So, like
I said before about like the food business, I didn't
like it. I liked the process of it.

Speaker 4 (21:08):
So I wasn't going to become a cook or a chef.
I don't like it. But in this business, I love
this shit.

Speaker 3 (21:14):
So I became an accountant to a degree in Advan's
accountant called actuaries. I looked at all of my data, identified, okay, well,
who's cost me the most money? By individual and by category?

Speaker 4 (21:27):
So I give an example.

Speaker 3 (21:29):
I identified that anyone who was in my membership had
any condition. They could be a type two diabetic, they
could be on dialysis, whatever the case may be. But
if they were also homeless, they cost me five x
more expensive. So no matter what the condition they had,
they were also homeless. I cost cost five hundred percent more.

(21:50):
So what I decided to do is identify all of
my members that were homeless and put together programs to
get them in the housing. Simple thing. So at this meeting,
I had forty people there because it was open meeting,
and I kind of lead from the front. I'm a
ground up guy, so let's all talk. Everybody gets respected
in the floor. And what I quickly realized is because
of that safe environment, two women to raise hands said

(22:11):
I had actually been.

Speaker 2 (22:11):
Homeless in DC and homeless with the kids.

Speaker 4 (22:14):
They gave me the real So I thought I had
the right idea, was wrong. They gave me the real.

Speaker 3 (22:18):
Lead of land, we put together plans in place we
would douce homelesses about fifty percent. So out of all
the metrics and data in our industry of healthcare, the
only metric that we needed to focus on was getting
folks that were homeless into housing.

Speaker 2 (22:31):
It seems simple, right, we did it.

Speaker 3 (22:33):
Cost came down a fifty percent, and I probabily went
up directly.

Speaker 2 (22:36):
So that's let's just go into that point minute. So
just by actually looking at the numbers, you realize that
the homeless people was actually costing you a lot more money,
so you got to keep them on. So the way
that solve it is housing. That's there are housing programs,
but it's just a matter of most CEOs aren't really

(22:56):
interested in community outreach and trying. So you actually going
hand in hand and getting these people and saying like, look,
we can get you a house, da da da, and
we can put you in a shelter. And that way,
not only are you getting them off the street, but
you're actually increasing your profit revenue as well. That's why
I was like, I get it. Once you said it,
I get it.

Speaker 1 (23:15):
You do the programs for the homeless, right, You create
exercise classes, you create nutrition programs, more entry people, less
people have to go to get any type of treatment
or have to go, increase the expenses.

Speaker 4 (23:29):
Trow one hundred sent right.

Speaker 3 (23:30):
So we actually built these community centers called our Recenters
in the hood. So in the Turvice neighborhood in DC,
we had four of them all throughout the district.

Speaker 4 (23:39):
And most of these companies call them corporate call wherever
you want to call them.

Speaker 3 (23:41):
They ain't stepping foot in the hood, and employees aren't.
So we end up attracting people that were comfortable being
the hood I called the hood. But when you're around
the people that you're serving, you can affect them because
you're actually communicating with them, and you get them. You
build a trust where they actually pay attention to what
you are putting forth. They know the reason horses and
their behaviors changed for the positive.

Speaker 2 (24:04):
So that's how you was able to increase just looking
at and stuff like that, studying analytics.

Speaker 1 (24:08):
So you went for one percent, well the average was
one percent points, and so that's how you got to
the ten percent.

Speaker 4 (24:13):
I was over ten killing them, killing them.

Speaker 3 (24:16):
But the problem is and actually wrote a book trying
to change the policy for medicating the country.

Speaker 2 (24:21):
I sent it to you.

Speaker 4 (24:21):
It's called the Tradiing Dollar Medicaid Monster.

Speaker 3 (24:24):
It addresses single payer everything you've heard about politically that
knowing fully understands, adresses all of it, simplifies it. I
took it to the person that runs ran sentence, Medicare
and Medicaid for the country to change policy.

Speaker 4 (24:37):
Gave him three policies to change, and he.

Speaker 3 (24:39):
Told me there's no way he could do it because
one of the policies is affected into law through Obamacare,
and it'll be too hard to change policy. But what
that policy is a mandatory medical loss ratio requirement. What
that means is, remember the government pays us a health
insurance premium per member per month one thousand per year,

(25:00):
breaking down per month for one and of bucks per
month per person tracking, Well, let's use the five grand
per year number. The requirement is that eighty five percent
of that money has to be spent on direct costs
of care, so hospital, doctor, pharmacy. Then I get, you
know whatever, twelve percent left, thirteen percent left to cover
my administrator spence, and then two percent profit margin. But

(25:22):
the management medical cost ratio is the eighty five percent. Well,
if you do things that I was doing and get
people who are homeless in the housing reduce costs of care,
then you're gonna be less than eighty five percent.

Speaker 1 (25:32):
Because I'm thinking like, if you did it in DC,
this model seems like it could be scalable, right, Like,
why can't we do it Detroit, New York City?

Speaker 3 (25:40):
Well, because it's political, it's hard to win the contracts.
It's a big game. So let me tell you how.
Let me tell you something else about to the entrepreneurs
out here, go to what the opportunity is. I feel
like a lot of times what we do is individuals,
not just black, but just in general, is we believe

(26:01):
whether whoever our God is or our universe is, you know,
it's all on us, right, so God bless us, and
it's just.

Speaker 4 (26:09):
Wherever we are.

Speaker 3 (26:10):
But the truth is, the environment has a big impact
on your opportunity. And I was in Detroit in the money. Detroit,
d C is a special place and a lot of
black folks who have been successful come through DC, A
lot of them. You look them up, most of them
got to start a BT. You go through you really
look at black folks who made it big. Most of
them spent time in DC. And the reason is because

(26:31):
d C is the only place that has a governor's
budget but as black ran. So you look at any
other state in this country. You look at New York City,
who knows what's gonna happen until a degree it may
not really matter. You look at Atlanta, Georgia, you go
to Detroit, Michigan. You got all these you know, big

(26:52):
cities which have a black mayor, but the mayor budgets is.

Speaker 2 (26:55):
Small because the governor.

Speaker 3 (26:57):
Governor got the money. Governor's got more money that they
can actually than the president of United States because they
like the biggest CEOs in this country. But no one
talks about it. So how many black governments do you know?

Speaker 2 (27:12):
None?

Speaker 4 (27:12):
Come on?

Speaker 3 (27:13):
Why is that they control the money? Sorry, they control
the money. Governors control the money. Let me tell you
out of the city of Atlanta, because I spent time there.
With any city, a big contract tould be a million dollars.
You get a contract with the airport, you got a concession,
you said you may you make a half million dollars
a year.

Speaker 2 (27:31):
It's big.

Speaker 3 (27:33):
Any contract over three million, so three four five million,
and it'd be construction. But the problem with construction for
an entrepreneurs that there's a lot of expenses in construction.

Speaker 4 (27:41):
You gotta have equipment, you gotta have a million people.

Speaker 3 (27:43):
You can't make any profit. But governors controlled. Let me
watch this, watch this. The second largest procurement in history
United States was Georgia medicaid. I'm sorry, was Florida medicaid
three years ago. It was one hundred and twenty million
dollar contract.

Speaker 4 (27:59):
Right now.

Speaker 3 (28:00):
Over the next three months, Californias put out their Medicaid contract.
Medicaid what I was doing. It's gonna be a two
hundred billion dollar contract, two hundred billion over five years.
Two hundred billion dollars five years medicaid what I was doing.

Speaker 4 (28:13):
Who controls that?

Speaker 2 (28:13):
The governor?

Speaker 3 (28:14):
I mean, you don't have to get a big piece
to get a lot of money. But DC is special
because d.

Speaker 2 (28:19):
C governs budget.

Speaker 3 (28:20):
It's a governments budget, and the mayor is the governor.
And she's a black one because that's her. It was
a black man.

Speaker 2 (28:25):
So it's a district of Columbia, so it's not a state,
so it's a territory.

Speaker 3 (28:30):
So we got the budget. The mayor is technically the
governor in a sense.

Speaker 4 (28:34):
And they got the budget.

Speaker 2 (28:35):
Is the budget of power? Budget based on population?

Speaker 1 (28:38):
How do they determine the budget based on populations in
tax base?

Speaker 3 (28:41):
But d C is a beautiful place. It's small with
a big tax base. And uh, they got the power.
And then the other thing DC did through a former
mayor for Life Marion Barry, was the first place to
institute a real program.

Speaker 4 (28:55):
And maybe Georgia did it, but DC did it powerfully.

Speaker 3 (28:58):
Where every contract comes out of DC has to have
thirty percent minority participation. Now they what happens. There is
a lot of times that black companies will come in.
It tried to do small shit, do small things right unintitionally.
But they'll do janitorial service, they'll do marketing contract AGVAG,
they do printing. But they ain't no money. I mean

(29:20):
relatively speaking, what I was doing. I came in as
a prime and I got the prime contract. So I
was getting two enty million dollars year out of DC government. Well,
the problem with the companies that like I had is
I couldn't find a smaller black business to give a
contract too that was worth thirty percent. They couldn't do
the work, they didn't have the infrastructure, They weren't trying

(29:40):
to do anything worth the bigger spend. But DC, let
me tell you right now to Medicaid contracts, because they
did an expansion DC right now, it's probably three billion
dollars a year, just a little o DC three billion dollars.

Speaker 4 (29:52):
Well of that thirty.

Speaker 3 (29:54):
Percent, how much is that almost a billion dollars has
to be spent with minorities? But how much you write?
Really thing it's being spited to the minority of companies
in DC. I could tell you because we had to
do hearings because there weren't enough to spend probably yeah,
no more than ten million, not even ten five five
five million from a billion, not even that much.

Speaker 4 (30:12):
I'm saying.

Speaker 3 (30:12):
It's like, it's just not the companies aren't there. The
companies aren't there to do the work. And look, I
mean we put game in the system by putting money
in a black bank, but that's not really spending money.
That's just money sitting. And even that's like small. But anyway,
my points are that there's opportunity all over the place,
particularly in DC, and this way to navigate it, the

(30:34):
way that I did it, you know, but as an uspilar,
you should look at your environment, see where you're at.

Speaker 1 (30:40):
The skill I mean, navigating through government contracts is obviously
a skill.

Speaker 2 (30:45):
Where did you develop this?

Speaker 1 (30:46):
Was it watching your parents go through the hospital or
was it something that you learned when.

Speaker 2 (30:52):
You were at a VP at your first company.

Speaker 3 (30:55):
On one side, my experience with my parents, you know,
having all these employees, you know, all the politicians coming
through every day, taught me government contracting because that's a
lot of it is a sense of I don't call
a quid pro quote it's a pro quote.

Speaker 2 (31:12):
Right.

Speaker 3 (31:13):
There is a fundamental human principle called reciprocity.

Speaker 4 (31:19):
Right, you do for me, I do for you, but
you ain't doing it for me. I ain't doing much
for you.

Speaker 3 (31:23):
And the reason you need to get my attention is
because you want me to prioritize your priority.

Speaker 4 (31:27):
I got my own priorities.

Speaker 3 (31:28):
So in order to do that, you got to incentivize me
my experience that a creative taught me, train me. And
that's the skills that I deployed when I looked at
all of my data and identified which one moved the needle.

Speaker 4 (31:40):
As I gave you the example with the homeless program.

Speaker 3 (31:42):
And execute it and put together operating rhythm to push
every day to improve our performance.

Speaker 4 (31:47):
Earns what's going on.

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Speaker 3 (32:39):
He had a conversation earlier Troy about you're asking me
if someone wednsday office.

Speaker 4 (32:43):
It was with the question was, well, while.

Speaker 2 (32:46):
They keep raising money?

Speaker 3 (32:47):
Yeah, yeah, they keep raising money because they may be
borrowing to pay for the TV commercials and they need
to pay that money back. The other thing that happens
too is they always want to have more money because
they can then keem make or queen. So now let's
say the person's mayor or governor, and now they want
to hand pick city council, right, so they want to

(33:08):
give that city councilor member that they want so they
know that they'll vote for whatever they their initiatives are
they need to raise money for them, so they'll take
the money that they raise for their campaign and then
donate it to keeammate to kind of build a powerful
position in government so they can make decisions they want
to make and help folks that they want to help.

Speaker 4 (33:28):
The other reason is if they lose, they got debt.

Speaker 3 (33:31):
See, if you win, you can always raise money because
now folks want to participate with you, right, the business people.
But when you lose, then you may have one hundred
thousand dollars in debt, a million dollars in debt, and
no one's gonna give you any money really because you lost.

Speaker 4 (33:44):
So they always raise money just case they lose to
But anyway, so.

Speaker 3 (33:49):
The understanding government relationships and understanding what people want by
the other side is training in Troy. I got my
training on, you know, how to I break my business
at the highest level through my company at a creative.
When I sold my company to a creative. They taught
me how to analyze data, how to synthesize it, how
to analyze and identify out of all of the data

(34:13):
points and metrics what actually moves needed the most, and
then create an operational rigor to push every day to
improve performance.

Speaker 2 (34:21):
I think that's incredible. Right.

Speaker 1 (34:22):
A lot of times people here, someone sold their company
and they took the cash and they walked away and
tried to create a new company. Whereas you sold the
company and stayed on and learned yes, skills to help
you before you created a new company. That's right, that's incredible.

Speaker 3 (34:37):
And that's why we killed them. Yeah, my last company,
we killed them and it benefited me financially. So my
last company based upon the size, So if you just
look at the metric of number of members, which is
usually how they value manage care companies, we would have
sold our company for forty million dollars, but because we
were so profitable, we sold a company four hundred and

(34:58):
twenty million dollars. And that profitability was a was directly
driven by really the training I received at the creator
to understand the data and then pushing it.

Speaker 2 (35:09):
So what was the last company that you sold, Like,
what was the same type of services?

Speaker 4 (35:15):
Provide insurance?

Speaker 3 (35:16):
That was insurance, that was a Medicaid health plan, that
was Medicad insurance trusted or trusted.

Speaker 2 (35:20):
So you was providing the insurance for the Medicaid.

Speaker 3 (35:23):
So people who have Medicaid. They have an insurance company
and I was one of the providers. This is interesting,
It's something that I've never even heard of.

Speaker 1 (35:30):
Speaking of Medicare, you actually bought a healthcare plan from
Michigan Tenant in twenty sixteen.

Speaker 2 (35:35):
Yeah.

Speaker 3 (35:35):
Tenants the largest for profit health care system in the country.

Speaker 4 (35:40):
So here's how it goes. It kind of mixed it both, right.

Speaker 2 (35:43):
So one.

Speaker 3 (35:46):
There was a person who used to be a Supreme
Court justice in Michigan, and we're very closely with my
parents when I became when I started my entrepreneurial journey,
remember my parents.

Speaker 4 (35:57):
The other thing about.

Speaker 2 (35:58):
Government businesses, When.

Speaker 3 (36:00):
You're on the positive side where people like you, it's
extraordinarily beneficial. But then something can happen where you get
on the wrong side of politics. And so my parents
got on the wrong side and lost everything. But then
I was building my own This person became a good
friend of mine, kind of like a mentor to a degree,

(36:21):
and it just so happened. He ended up becoming the
CEO of one of the Tenant hospitals in Detroit, and
he told me that from corporate they had made a
decision to sell their Medicaid help plan assets, and because
of that relationship, he told me about it. And then

(36:42):
I contacted a guy who I made chairman of my board.
He's a very good friend of mine. I contacted so
my guy who was running the hospital told me. I
contacted my guy who is in that world of high power.

Speaker 4 (36:58):
Executives in healthcare.

Speaker 2 (37:01):
None of them were black.

Speaker 3 (37:02):
He talked to them and they confirmed, yes, we are
looking to sell their as set. And so you know
it was in a few months they sold it to us.

Speaker 1 (37:09):
What's the type of tag on that, because I know
you later sold it to Henry Ford.

Speaker 4 (37:13):
We bought it for.

Speaker 3 (37:17):
What we had to put in. It's called risk base capital.
I think all in we probably put in like thirteen.

Speaker 2 (37:21):
Million, okay, you know, and then three years later we.

Speaker 3 (37:24):
Sold it for twenty two and a half. Yeah, but
it was a crazy story. But here's the real story.
That ain't the story how much money we made. The
real story, Troy, is that we bought it and they
gave us these financials which showed it was making six
million dollars a year in profit, half million a month,
half million a month, half million a month.

Speaker 4 (37:42):
The first month I owned it, we lost.

Speaker 2 (37:44):
A million dollars. You did, so he.

Speaker 4 (37:47):
Sell me an asset with all the financials.

Speaker 3 (37:49):
It's a big public traded company, right, one that you
would trust.

Speaker 4 (37:53):
Half million dollars a month they make it.

Speaker 3 (37:54):
But somehow my first month I lose a million, Second
month I lose another million, Third month I lose another million.
So now what's happening. My private equity partners are come
to take my company over from it. I got stories
with days they come to take it from me. Itu They said,
now we gotta put money in the company. Of course,
time you can't put the money up, so we gotta
put the money up. We're gonna delute you down and
take your equity to put the money up. And it's

(38:15):
becoming hostile because we have our investors, who's money in
this thing. We got to do what we have to
do to retain as much value as we can. So
now they start showing up in my office every day,
taking over my finance. So put my CFO out the way,
took over his office.

Speaker 4 (38:30):
They coming every day. So I'm all right, now I
got to fix the problem. So fix problem? How do
I do it?

Speaker 3 (38:35):
Make all my vendors renegotiate their rates for me, cut
everything in half or I'm suing y'all, and I'm claiming
fraud and everything.

Speaker 4 (38:42):
So now I call a State of Michigan. So here's
what things.

Speaker 3 (38:45):
No matter how big the companies are, company is in healthcare,
there's one thing that can destroy a company.

Speaker 4 (38:51):
It's called compliance.

Speaker 3 (38:53):
So if government believes that a company is not being compliant,
they could tank the whole company. And so so I
proactively called the State of Michigan's insurance bureau. Even though
I presentage if they called me, they didn't. I called
them and I was threatening, well, listen if the insurance
bureau approved them. So what happens is when you're an

(39:15):
insurance company, you make a profit. You can't really take
your profits out every year. You just retain them and
then when you sell your company, then you get all
your money. So when they sold the company, we gave
them thirteen million. They took like ten million out the
company that they had to retain earnings. So then I
contacted the insurance bureau and I threatened, I tell you
a funny story too, you know, let me tell you

(39:35):
the story. So I called the insurance bureau, say no,
I'm on record, call them to have a meeting.

Speaker 4 (39:41):
Being in healthcare forever.

Speaker 3 (39:42):
So we go there and I got my private equity partners, right,
they talking all this shit to me. They're trying to
take my company from me. Dudes resign from the board
so they can sue me. So I knew that do
resign for the board. That means about to ssume because
they can't ssue me being on the board because it's
complex Adventures. So I'm like, all right, this is a
Jewish guy. They about to sue me, and I got
all these problems to take it over my company anyway,

(40:02):
So we go and I got to get my money back.
I don't forget my money back, and I renegotiate my
vnder contracts.

Speaker 4 (40:07):
I can save everything.

Speaker 3 (40:08):
So we get to Dallas and all these guys people
come to all I said to me, all this stuff
to me. We get there and they quiet scared to talk.
But here's what they So I threatened the dude. I said, yeah,
you know, y'all took that money out and you sold
the company to me. And you know, I got to
meet with the surance bureau. They want to meet with
me about what happened because they see our financials have deteriorated.

(40:29):
So I don't know, but that's the problem. So the dude,
he said, ah, I did this team talking. I come back.
I said, you know, I mean the assurance Bureau and
y'all took that money out. I don't know what they
want to talk about. He kind of ignored it again.
I said the third time, I'm sorry, I said. He said, God,
damn it, duncan if you threatened me one more time,

(40:53):
and I looked at him, I looked out the window.
I said, all right, I won't say it again. That's
gonna make sure you heard me.

Speaker 4 (40:59):
Came back. I probably a day later, and they agreed
to give us some money back.

Speaker 3 (41:02):
Got my money back, and still renegotiated my contracts with
my providers who had to pay my vendors. So then
now now that they get my money back, now my
cost with Lord going forward, it's up making money. I
probably made another twenty million. It's unbelievable, unbelievable. So so
that I got my pe partners off of me and

(41:23):
save My company ended up being more profitable, and then Henry's,
but then the company still wasn't making money and it
was it wasn't working. So I was able to get
Henry Ford health System health System in Detroit to buy
my company, and I made a profit, so on something
that was losing million dollars a month. It could attaint everything,
DC could attaint everything. I ended up some one hundred

(41:43):
and twenty million dollars. It may profits all over the place.
And then the very oh guys.

Speaker 2 (41:47):
So yeah, I only want to just breeze over one
hundred and twenty million you sold the company for so
all right, so what is the what was the process
of you selling that? Like when was you saying, Okay,
this is the time to start actively looking for somebody
to buy it, or did they approach you and talk
about that, like how you actually value the ebadah and
all of that stuff, like how you value the selling
of a company, because a lot of times people just
had like I sold the company, but they don't actually

(42:09):
know like the details that go into selling a company.

Speaker 4 (42:11):
Yeahs so okay, first.

Speaker 3 (42:20):
In our industry, because I got so many stories I
can tell you which would be fun. But in our industry,
there is a framework for how you value our companies, right,
and it's ebit us roughly eight times EBI right, so
you could value it that way or as I told you,
before you value it on the total number of membership.

Speaker 4 (42:41):
So call it like a million dollars of members.

Speaker 3 (42:42):
Yere forty thousand members million dollars, but it'd be like
forty million dollars right, Or you could do it about Ebia.
So but what happened with us is I didn't want
to sell my company. I wanted to keep it and
keep growing it. The problem I ran into is even
though we were the highest performing on every metric, We're
the most profitable, you know, every metric about getting people healthier,

(43:03):
we were the best at it. I couldn't win other
states because what I tell you, we had no black governors.
You know, it's just and you had that black governor
to push to win the contract, and we didn't have it.
And my PEE partners, I didn't want to be deluted,
so I don't want them putting up too much money.

Speaker 4 (43:19):
And then I get de looted down.

Speaker 3 (43:20):
So I'm owning, you know, five ten percent of company
where I built it from supratch. It's the time I
was owning forty. I want to keep my forty. See
all these different factors. So but then what happened as
I's shared with you. So anyway, so my Pea firm
when they bought in, so I started a company without
private equity. I had a partner of mine who I
met out here in La Do, a good friend of mine,

(43:42):
who arranged to put up the first couple million dollars,
and then I end up having them bought out because
relationship dynamics got difficult to manage through.

Speaker 4 (43:53):
So got in bought out, and we got bought out.

Speaker 3 (43:55):
The company was worth twenty five million dollars total, so
P came in at twenty five million. But remember my
soul was one hundred twenty millions. But when they came
in three years earlier. You know, their whole thing is
you make a profit, you create value, then you sell
it and you have this you know this game. So
they had been looking to sell the company, but I
kept wanting to stay in the game because to me, shit,

(44:16):
if I'm worth a hundred million dollars now and we're small,
if I get bigger, we're worse more a dallion two billion.
I mean, I can keep going. But one thing that
I think was a mistake that I made is I
started making so much money that I got got loose
and I was just starting to spend too much so
was showing with shot earlier. You know, I did, amongst

(44:37):
many things. I had this big party in New York
City where I told them I also had Tretch, I
had naughtybody, Naguors, I had uh at a Christmas at
your Christmas Potris probably had Genuine. I danced with Genuine
doing the moves of shit. I mean I was. We
had Freddie Jackson, you call it. I had everybody showing up.

(44:57):
I was like reinvigorating careers talk the first verses, Yeah,
real talk. But let me tell you what happened. So
when you're in healthcare government, there's always these fundraisers, small
not for profits trying to raise money and it's like
this important thing, and all the positians show up. So
I'm at this Christmas dinner and the one woman who's

(45:20):
like CEO of some small not for profit organization healthcare,
she comes up to me. She said, yeah, time to
hear you making all this money. You know you're doing
real well.

Speaker 2 (45:28):
Huh.

Speaker 3 (45:29):
And when she made that comment, I knew coming out
just like remember, yeah, put the mink on through and
through it in the in the uh in the fireplace.
And I'm like, damn the word and got out.

Speaker 1 (45:43):
The trusts, the Pink Catialact and good Fellas Pink Cali,
good Fellas, Oh take that ship back.

Speaker 2 (45:48):
It was.

Speaker 4 (45:49):
But I bought a Bentley when I got to d C.

Speaker 3 (45:51):
I had a read uh not eleven because in my
first company. But I never drove it and I sold
it because I had to be low key. But then
you start making so much money you just can't help yourself.

Speaker 2 (45:59):
That to Bentley, I'm.

Speaker 4 (46:01):
Kind of I'm driving.

Speaker 2 (46:01):
Look i'm driving.

Speaker 3 (46:02):
Look I'm driving like this and ship like real talking
my hat down, lass rout in the city and this
is DC is small.

Speaker 4 (46:09):
But I couldn't.

Speaker 3 (46:10):
You can't control yourself. You cannot control yourself in this situation.
In the situation itself possible, it's impossible.

Speaker 4 (46:17):
That's why every movie the same should happen. No matter
how much advice you.

Speaker 2 (46:21):
Did, you couldn't do it.

Speaker 3 (46:24):
So but but here's a here's a but here's a
real life story. So right, the pink Cadillac, you know,
the Chinchilla. When I was growing up, it's about the
time we lost everything and I came back home to
try to save it. My stepfather had just sold a
piece of property which was attached to the hospital for
two million dollars and he was running around this two

(46:45):
million dollar check and he was showing it off. It
was one moment he was in the casino in Detroit
and he and it was this dude I don't mention
his name, who my stepfather was bragging to. Oh, you know,
y'all think y'are hurting me because he was gonna.

Speaker 4 (46:58):
Beat out of politics.

Speaker 3 (46:59):
I still I just got me and he's showing us
two milli dollars check, and I truly believe. And he'll
tell you that was the start of the full collapse, right.
He was he could maybe fix it, but after that
it just it was a rap because this dude controlled
the hospital. He was a general counsel for hospital, and
they just started suing the h most. The long story short,
I knew at that moment it was a rap for me.

(47:21):
So therefore I needed to sell the company to extract
as much value as I can before I end up
losing everything. And the thing about government contracts, in any
contract business is it has its positives, it's pros, it
has its cons. Now, the positives contract business is that
once you have a contract, you got revenue flaw right
boom revenue flaw. The downside is when you lose your contract,

(47:47):
Animo revenue flow right. So I went from getting two
in a milli dollars year coming through. So now if
I don't have nothing, I lose my contract, I have zero.

Speaker 4 (47:56):
So I'm not a.

Speaker 3 (47:56):
Situation where I could go from verry risky. It's all risks,
all enough, and it's literally all enough.

Speaker 2 (48:02):
Right now.

Speaker 3 (48:02):
If you're in retail business with our cause like a
restaurant a, you're selling something, whatever you're doing, and you
have customers buying your product and service, they don't just
cut you off. You know you have a real business, right,
But in contract you can lose everything. The problem with
the retails you got to build this big business. I
start off, I got a twenty million dollars your revenue
damn man. I mean it's big difference, big difference.

Speaker 4 (48:23):
You got to y'all. You know, you got to build.

Speaker 3 (48:25):
But then when you get it, you're not as much
at risk contract, you're full risk. My partners were putting
pressure on me to sell it, and I'm like, all right,
I need to sell this company before I end up
with nothing.

Speaker 2 (48:36):
So you sold January twenty twenty.

Speaker 1 (48:39):
Yeah, and then you announced three weeks later Jeddok, which
is where you're at now.

Speaker 4 (48:44):
One week later, one week both. I want to just
go back to quick.

Speaker 2 (48:47):
So this is very important for people, especially black entrepreneurs,
because a lot of times I feel like we have
it's a gift in the curse, but we have a
deep emotional attachment to our business and people always criticize,
not always by a life time they criticized people. It's like, well,
we can never really grow as a community if we
keep selling our businesses. But when you have to understand

(49:07):
that there's no emotional attachment to business, you have to
look at it from a very rational standpoint, and it's
like you can sell a business and then scale to
another business as well. So once you saw that a
they was going to come at you because your lifestyle
and then be just the risk, you just realized you
did a calculation in your head, yep, and said it's

(49:28):
time to go.

Speaker 4 (49:29):
That's right, exactly right.

Speaker 3 (49:31):
And because the where I grew up and again, my
mother had a twelve care diamond ring and she gave
way for practically nothing and all the firs and the
cars and the house and everything because they were trying
to keep that business open that clearly was closing. Gave
way everything trying to keep it open. I realized that
the most attachment was more of a curse and a blessing.

(49:52):
Did you reach out to the Blue Cross bushel or
did they reach out to you to sell it? And
said they reached out to me. They reached out in
then they were trying to get rid of me, so
so you know, So then the district did this thing
where they did another procurement, a new contract. So I
just want a five year contract. Like eight months later

(50:12):
they say, no, we're gonna do it again. We're gonna
do another contract. So now you have to go through
the process of winning a contract again. I just won.
So I thought itself for five years. I mean, you know,
I can try to grow or whatever. But then eight
months later they put gonna do another procurement after they
cut my race twice. Remember I making so much money.
They cut my rates twice, only me, and then they
did this new procurement, which to me was a message

(50:34):
they kicking me out.

Speaker 2 (50:35):
It's a rap.

Speaker 4 (50:37):
So but ill love out of DC.

Speaker 3 (50:41):
I you know, Blue Cross connect connected with me, said
they wanted to be in the Medicaid space and the
company they bought didn't win the contract, but instead they
were encouraged and to not negotiate a good deal anyway.

Speaker 2 (50:55):
Yeah. Yeah, so so you sell that then and then
jet That's what yes, I was saying.

Speaker 1 (51:00):
And as you see the walls closing in, yeah, you're
already drawn up the vision for the next thing.

Speaker 2 (51:05):
So talk about that process.

Speaker 1 (51:07):
I know it's closing in, but here comes the next thing,
which is Jet Doc, which you announced a week after yourself.

Speaker 2 (51:13):
Yeah.

Speaker 3 (51:13):
So I didn't like, you know, I didn't want to
sell my company, and I felt like I was being
forced out, and not just in d C, but I
felt like I'm the smartest person in healthcare, and I
wrote a book to prove it.

Speaker 2 (51:29):
I really am.

Speaker 3 (51:30):
No one knows better than I do, because no one's
been found a CEO like I have. So it's one
thing you know something because you work for somebody, another
thing like what y'all doing? You know that you know
what I'm saying.

Speaker 2 (51:38):
It's different.

Speaker 4 (51:39):
So I knew it. I'm smart. I grew up in it.

Speaker 3 (51:45):
So fifth second generation, I mean. And when my mother
and my stepfather started in the business, they were guinea
pigging this concept to medicate managed care. And of course
they started in the black communities because that's where the
guinea pig. But because of that, my parents had the
first experience with it, so like knowing knows the game
better than I do. So I felt like I was
being put on the sideline of the industry, right, and

(52:06):
that was mad about it. And so even though I
knew I was about to make this money, I was pissed.
And so I started another company and my plan was
and launched his next company a week later and then
you know, shocked the world with that.

Speaker 4 (52:17):
Unfortunately that didn't happen. I launched it.

Speaker 3 (52:21):
You know, I launched jet Dot February first of twenty
twenty with this concept of telehealth, cause I knew that's
where the game was going pre pandemic, because I looked
through all my again, I've looked to all my claims. Oh,
I got a lot of claims with your little claims
which can be done over telephone versus somebody having to
park the car going to the office see a doctor
for zyptromag a Z pack they's doing on the phone

(52:43):
boom ba boom and the doctor is not a big
risk because it's a Z pack, it's easy, right, So
I knew that's where when I looked at my claims,
I paid off many claims. You know, boom, this is
where healthcare is going. I launched February first on my
own technology building myself. But then pandemic hits like March fifteenth.
I go from being early till late because now my
tech I'm I just I'm a month in the building.

Speaker 2 (53:04):
My tech.

Speaker 3 (53:04):
My tech when ready until until September. Yeah, and I
was late. And then I thought, okay, well I'm still good.
So I'm self financing because I want partners, because I
had Peet partners last time, private equity.

Speaker 2 (53:17):
Self finance that don't let that go over.

Speaker 4 (53:19):
Yeah yeah, but sometimes a good idea sometimes not the
great idea.

Speaker 2 (53:22):
It depends.

Speaker 3 (53:23):
But I wanted full control of this. I thought it
was going to be like a Grand Slam. A self
financed it, and then I go out here to the
market like IM about to kill them. It was right
before Labor Day last year. I'm about to kill them.
I'm about to give away you know, free doctor visits.
But because I had Stripe on the app, I had
to charge lease of dollars I''MNA dollar.

Speaker 4 (53:41):
Dollar doctor visits.

Speaker 3 (53:43):
And the next morning I wake up, I don't had
a mini You know what I'm saying people on my app,
why now spend the money on advertising?

Speaker 4 (53:50):
And I look at all the comments they think.

Speaker 3 (53:52):
They're, you know, not real doctors, the Dr Pepper, you know,
voodoo doctors, doctor Dre whatever.

Speaker 4 (54:00):
You know, doctor Day, doctor Dre.

Speaker 3 (54:03):
It wasn't real, and so people didn't assess value to
what I was trying to sell, and really is amazing
value problems isn't actually included discount of pharmacy where anyone
can go to any farms in the country get a
fibesarting to cost some medication unheard of. But because I
wasn't getting attraction I expected to get, I decided to
do celebrity route like everybody else can go. Influencer I
got with Rick Ross and then we launched this big

(54:23):
thing earlier this year, and again I actually kind of
got it working. You know, my number is one hundred
people per day. If I got one hundred people to
day sign up for jet doc, it was booming a
subscription model. The problem is I got like fifty people
to day. Actually that wasn't a problem. Fifty people day
would have been okay. The problem is that I spent

(54:44):
four hundred thousand dollars that month in advertising. I ain't
spent four thousand dollars a month for the fifty people
a day. I just can't you know what I'm saying.
They can't justify it.

Speaker 4 (54:53):
Nah, I ain't doing that.

Speaker 3 (54:55):
So but that was my problem. I'm gonna have to
make another pivot. Business people do if you're gonna be
in business. So I pivoted. My pivot was I'm gonna
go back. Remember the guy I told you who I
made chairman of my board, who's at the highest level
of health care in this country, most probably top ten
most profit for people health care in this country by far.

(55:16):
You used to run a CMS. He's a friend of mine.
I hit him about what I'm doing. They gave me
a recurring license contract, which is valuable when you're in
a tech business. So back to valuation, service business and healthcare.
Eight to ten x EBITA, which is pre tax profit.

Speaker 2 (55:34):
You know what the EBITI stands for.

Speaker 3 (55:35):
Yeah, Earnings before interest, taxes, depreciation and amortization ebit die.
So pre tax profit eight to ten x is roughly
way you're gonna end up services.

Speaker 4 (55:46):
But if you're in tech.

Speaker 1 (55:47):
It's like twenty two or something like that. Bank.

Speaker 3 (55:52):
And that's why I want to get a tech That's
why I did detect. So they're gonna give me a
million dollars a year in recurrent revenue, so call times ten,
that's twenty two mini an I'm worth twenty two million
off the top.

Speaker 4 (56:01):
I actually got to waited seventeen million.

Speaker 2 (56:03):
And that is I'm glad you said that. So that
is how you value a company. It's like the money
that you're making. I'm trying to break this down as
easy for people to understand as possible. The money that
you make after all the expenses and all of that
is done every single year, and then you have multiple
So depending on what industry you're in, that will determine
your multiple. So you were saying healthcare's multiples of eight,

(56:24):
but in tech is like in twenty plus twenty plus.

Speaker 3 (56:28):
And here's another thing about tech. Tech would give you
a multiplier of top line revenue. I'm talking about ebit
does after expenses and taxes. I mean it's after expenses,
net is net.

Speaker 2 (56:41):
Tech is gross gross.

Speaker 3 (56:44):
So you're doing a million dollars a year, you getting
ten fifteen, that's fifteen million, your a couple of contracts.

Speaker 4 (56:48):
Now you're forty million. I mean, and you're just doing tech.

Speaker 2 (56:51):
So why is that? Because tech is just so explosive
and it's just the because it's so scalable because if wor.

Speaker 4 (56:58):
It's here, you'll work anywhere. It is not.

Speaker 3 (57:00):
Once you've built a tech and it has an application,
what it costs of scale it is minimum. But services
you get in, more people, you have more infrastructure, more
blah blah blah. So tech is a sexy place to be.
So the dude connects me with the company and then
they end up investing giving me an anchor contract. And
so now we're actually at the closed stage of winning

(57:22):
appears to be winning a state wide contract to provide
telehealth services. And we have another company that we're looking
to do business with.

Speaker 2 (57:29):
A few more and so telling doot, So what's the
revenue census? You say you started with like a doubt?
How much is it now? I mean, well we still
got to say jet dotah, yeah that's a competition. Well yeah, yeah,
I was acting about that. So Jet dot you started
with a dollar? How much is it now?

Speaker 3 (57:46):
So it doesn't matter really because now it's twenty dollars
a month, but we're ten dollars a month unlimited. But
it doesn't matter. Well, it does matter, but it's not
my priority. That's direct to consumer. So people in Georgia
and Florida can still call it jet dock, see a doctor,
get it, this got medication, boom. It's all easy, pay
a twenty bucks a visit. But what I've transitioned into

(58:10):
is business to business. So that's when I was sharing
with Troy earlier. There's an opportunity where you know, I'm
gonna address homelessness. It's a major problem, which means the
major opportunity. What we found again through my math when
I did in DC is an average person spends five x
more expensive if they're also homeless. The average expense per
year is about twenty grand a year. So somebody's homeless

(58:33):
on average, that cost US twenty thousand dollars a year.
That's entire Medicaid manage care industry. Well had some folks
at the homeless it cost twenty grand a year. Remember
you only get pay five thousand years. Each person's losing
fifteen grand. But then you have other people who don't
see the doctor at always seeing pay five grand a year,
so you know you get you get paying out zero,
but you getting five thousand. So kind of to a degree,
not always average his way out, but you know it

(58:54):
gets close to it. And that's where the two percent
problem AARTE comes from, and you shake all that out.
But homeless is the big problem. It's the biggest impactor
on the healthcare industry. No one really talks about. So,
and we've had homeless people that were using the emergence
room fifteen twenty thirty times a month, right, knowing what
to say to be admitted impatient, I mean the impatient
means they spend out the hospital east one night. So

(59:15):
somebody wants to get a meal, they wanted to stay
in the hospital, or for whatever reason, they want to
get some more medications, maybe because they need them, maybe
because they want to sell them.

Speaker 4 (59:22):
Who knows, they know what to say to get it.
And then the insurance comes to paying the bill.

Speaker 3 (59:27):
Or it's just cold down, its cold ever whatever, right,
but it costs money. Somebody goes in patient, maybe it
costs us fifteen thousand.

Speaker 2 (59:34):
Dollars, and you can't turn somebody down.

Speaker 4 (59:37):
No, so it costs fifteen thousand.

Speaker 3 (59:39):
Right, Well, if they stay on average, which is five nights,
I'm paying three thousand dollars a night back.

Speaker 4 (59:44):
They could be staying with me at the pass the
hotel and penhouse sweep. That's what I'm paying.

Speaker 3 (59:49):
So the opportunity is getting folks that are homeless into housing.
And there's a big opportunity. I was giving you a
quick man Troy in Oakland, California. We're talking to a
big company. Let's say they have ten thousand members, twenty
thousand dollars a year. They mean to spend two hundred
million dollars a year on homeless members. On healthcare for
the homeless, two undrellion.

Speaker 4 (01:00:06):
Dollars a year. I proved it in d C.

Speaker 3 (01:00:09):
I cut my homeless members in half by fifty and half,
which is fifty percent, and the costs came down accordingly.
So if I took a two hundred million dollar baseline
and I cut it in half, that means one hundred
bill dollars in savings. If I got half of that,
I may fifty million dollars and they made fifty. They
say fifty for giving me the contract. It's a lot
of money.

Speaker 2 (01:00:25):
So that's that's the revenue models, not really the consumer.
It's more business in government government contracts too.

Speaker 3 (01:00:32):
That's government or business business. So another company like the
one that I had, I can go contract with them
and say, I know how to save money I was doing.
I was doing ten percent, twelve percent profit margins. You're
doing you're trying to do two?

Speaker 2 (01:00:43):
Are you help you?

Speaker 1 (01:00:44):
So that that that is a formula for Oakland. We
know homelessness is a huge problem in la as well. Yeah,
can that also be replicated here? One hundred percent. The
thing is I'm friends with the CEO of a big
help planing.

Speaker 4 (01:00:55):
In Oakland and Oakland relationships rightships.

Speaker 3 (01:00:57):
One hundred But once you anything anywhere successful then.

Speaker 2 (01:01:04):
So the whole idea of virtual doctor visits. Teledoct is
a well known company who's a publicly traded company, but
people are still a little leary about this. So you
have a virtual doctors visit? What Because I've never done
this before, can you kind of explain to me what

(01:01:25):
is a virtual doctor visit? Because I'm assuming that it's
some limitations involved, like you can only see somebody, you
can't hit that hell bow and check that cough and
all that. So like how how does that work? And
do you think that this is something that will be
the normal moving forward?

Speaker 3 (01:01:43):
I do in the current in the current state of
technology and is limitations. Most all health visits are you know,
you have flu symptoms, or maybe you think you may
have COVID symptoms, or you have a headache, you need
some strong advil or something that you don't need to
see a doctor. You know it, and the doctor knows it.

(01:02:04):
You don't need to see them, uh in person. And
so you download the app and you basically are like
a zoom called the FaceTime with the doctor and you
talk to them about your symptoms and they're going to
prescribe your medication. And then in jet Doc then the
doctor will automatically send the script wherever pharmacy feel is
most convenient for you. You go pick it up. You get

(01:02:25):
eight five cent off constant medication. The discount card is
embedded in the app. Where healthcare is going is more
sophisticated technology, which we're on the forefront of that with
this contract we have.

Speaker 4 (01:02:35):
I was just sharing with you.

Speaker 3 (01:02:36):
Where we're including with our app, integrated remote patient monitoring,
So folks that diabetic negocometers to measure the sugar, the
blood in their shirt, the sugar in their blood, and
so we're integrating like a post eximbity to see what
their you know, uh, their heartbeat is. But we're we're

(01:02:57):
integrating these into our app so it's fully integrated. So
now you can have you know, devices that have advanced.

Speaker 4 (01:03:09):
What's the word photography capabilities.

Speaker 3 (01:03:11):
They can actually see more clear than your iPhone what's
going on, So you can actually use devices or smart
scales to get more information. So you're actually replicating an
in person visit without being in person.

Speaker 4 (01:03:22):
So that technology doing the way and we're in the
forefront of it.

Speaker 3 (01:03:24):
We're building this integrated application with jet dot to have
twenty remote patient monitoring devices fully integrated.

Speaker 2 (01:03:31):
To the system.

Speaker 1 (01:03:32):
So pre COVID, in the teleal space, there was an
average about projected average about eight hundred thousand visits eight
hundred thousand visits a month. Obviously, post COVID that number
has run to a billions. So that means it's a
lot of people in the space. So what's jet Dot's
plan to separate it? Because I know Shoddy mentioned a

(01:03:54):
company as a competition, how do you separate yourselves from
the rest of the competition.

Speaker 3 (01:03:59):
Really is I got to figure out what I want
to do, so you know, there's so much room. First
of all, I answer the question, it's a lot of room.
There's room galore, and there's room galore director consumer. There's
so many different pockets of opportunities. So whether you focus
on mental health, do you focus on this niche?

Speaker 4 (01:04:17):
Over here?

Speaker 3 (01:04:18):
There's a telecompany that's been very successful doing transgender care
actually transgender or transgender.

Speaker 2 (01:04:29):
Friendly, O, what have you.

Speaker 3 (01:04:30):
And all the members are transgend because they have their
own health care issues, right, and so it's very focused.
So what's happening now is the telecompanies are trying to
figure out what the niche is.

Speaker 2 (01:04:39):
Right.

Speaker 3 (01:04:39):
STDs is a big niche, so figure out with the
niche is an opportunity for nicheng director consumer. But also
when you do direct to business, I mean how a
business are. There is a trade of them, so there's
always things you can try to do something new and different,
which means the opportunity to grow B to B is pretty.

Speaker 2 (01:04:53):
Massive as well.

Speaker 3 (01:04:54):
But when I was saying I got to figure out
what I want to do, is you know how far
I want to take it? You know, if you ask
me a year ago to yours. Got to tell them
to take it all the way, you know, punk be
traded on the control it make it a legacy business.

Speaker 4 (01:05:07):
Am I there right now?

Speaker 2 (01:05:08):
You know, I don't know.

Speaker 3 (01:05:09):
I'm still thinking about that. So do I just want
to create it, create value and sell it and have
another hit and maybe getting the TV.

Speaker 4 (01:05:21):
But stay tuned. But that's the decision. You know how
to make it. You know where the passion lies and
is it still burning?

Speaker 2 (01:05:30):
Let me ask you this before we wrap some general questions.
You say, you wrote the book Medicare Medicaid. We always
had these issues that you know, it's so flawed, and
you said, can you give us one of the solutions
that you have in the book or something that why
is it so flawed? And what are some like at
least one thing you think can be done to fix it.
You understand it.

Speaker 3 (01:05:50):
It's get rid of mandatory medical loss ratio requirements. So
I shared with you earlier, out of one hundred dollars
we receive in revenue, we're required by a lot of
to spend eighty five dollars out of one hundred, eighty
five percent on the direct cost of care hospital doctor pharmacy, dental, transportation,
et cetera. Well, if you spend eighty five percent of

(01:06:15):
your dollar every year medical cost inflation is two percent.
It's been two percent forever, which means next year you're
going to be spending your total costs. So the governments
won paying the total costs. The taxpayers are paying, so
eighty five it's like compound interest.

Speaker 4 (01:06:31):
Eighty What was eighty five percent? Not eighty five point
two percent?

Speaker 2 (01:06:35):
Right?

Speaker 3 (01:06:36):
And then the next year is eighty five point two
plus another two percent, so not eighty five point two,
it's two percent of eighty five.

Speaker 4 (01:06:41):
It's great net, right, it's like one point seven. So
then I goes up to eighty seven percent.

Speaker 3 (01:06:44):
Every year, the cost healthcare keeps going up because of inflation,
and you're requiring folks to spend that money.

Speaker 4 (01:06:50):
You did know what I'm saying. So every year the
cost of healthcare goes up. That's why it's crazy.

Speaker 3 (01:06:54):
What what you want to do is get rid of
mandatory medical lost racial requirements and then incentivized companies to
reduce the total cast care for their membership, and by
doing that, they would What should be the case is
if they reduce their cost to actually get more contracts
with governments to do more business. That's usually how it works,
like Walmart, Lord of costs, the more business you get.

(01:07:15):
But the way government has said it is they have
these mandatory medical loss racial requirements, which means you have
to spend eighty five percent of your money and if
you spend less than that, it's not legal. Well, the
reason they do that, the government has done that is
what they have been afraid of, are insurance companies skimping
on care for the purposes of retaining its profit. So
let's say Troy needs to go, you know, get some

(01:07:36):
imaging done. He has some heart palpitation or something he
wants to get checked out. Their worried. That means an
insurance company. Let's say I'm Blue Cross, we should and
he's my my member. I say no, Troy, you can't
go get this imaging this imaging service because it's not
a cover benefit, or I just don't want you to
do it because you know it's gonna cost me a
thousand dollars.

Speaker 2 (01:07:55):
You're insured.

Speaker 3 (01:07:56):
So to protect against that, to protect the people, they
make these mandatory cost racial requirements. But the truth is
in healthcare, because of somebody goes to emergency room. By law,
the hospital has to see the person, and by law,
I got to pay the bill. Then the percent of
spending that can really be affected by me trying to
skip on services, it's like less than ten percent, So
it's really like seven percent. So if I can only

(01:08:18):
affect seven percent, why are you forcing the system to
overspend on the other.

Speaker 4 (01:08:22):
Ninety three percent? You dig what I'm saying.

Speaker 3 (01:08:25):
What should be the case, like anything in capitalism, is
if I can get my cost lower, I should be
able to get more business. I should be incentivized to
get my cost down. And the only way to really
get costs down in health care is get people healthier.
Is but I explained to you on the homeless issue,
I cut my cost in half because I got.

Speaker 4 (01:08:43):
Half my people housing.

Speaker 3 (01:08:47):
So I was sitting down at sixty five percent medical
loss ratio, which the government thought was a bad thing,
was while they forced me to get out of the industry,
or sixty five percent is a good thing, because guess
what happens if I'm in sixty five and the system
is set to where I get more business because I'm
a lower cost provider than my other competitors. To guess

(01:09:08):
what the big companies that are in health insurance will
now actually compete to get their costs lower. So if
I had an impact doing things with homelessness and all
this other stuff I did reducing you know, man, I
had people matter, had thousand people who I stopped from
from being hooked to diallasis for the rest of their life.

Speaker 4 (01:09:25):
I call it dialysis.

Speaker 2 (01:09:26):
Bro.

Speaker 3 (01:09:27):
If somebody has a one C which basically measuring the
blood the sugar in someone's blood, if they're if it's
five and a half or greater, that means they're diabetic.

Speaker 4 (01:09:38):
So it's less than five and a half.

Speaker 2 (01:09:39):
They're pre diabetic.

Speaker 3 (01:09:42):
No, actually less than seven, yeah, less than seven, you know,
less than seven. But I have people. But then you
let's say that they once see eight, nine, ten, eleven, twelve.
That means any day they could be in they could
require dallasis. And that's that's a bad thing because now
the thallsans every day for the rest of their life
until they get a transplant where they die. I had
some thousand people, thousands people because I looked at my

(01:10:03):
data who had a one seeds that were over seven,
who have a one seeds that were growing over a
period of time, right they had, they had seven point
five out, they had a nine. Oh, I better focus
on these people, get them in the care, get them
a gu comra that give me real time notification when
it spikes.

Speaker 4 (01:10:17):
And then my staff, you want to reach out to them.
What do you have for lunch?

Speaker 2 (01:10:21):
Oh?

Speaker 4 (01:10:21):
You think it's healthy to eat eat food all the time.

Speaker 2 (01:10:23):
Guess what? Not so much?

Speaker 4 (01:10:25):
You know, what are you doing in changing behaviors?

Speaker 2 (01:10:27):
Right? And fruit? Fruit?

Speaker 1 (01:10:28):
Right?

Speaker 2 (01:10:28):
Yeah?

Speaker 3 (01:10:28):
A lot of times foo food it breaks down your body.
And sugar, that's right, no question. So people think they're
doing something healthy, but it's killing. But listen, listen, people
watch this. Thousands of people, thousand people my aunt included,
and many people y'all know included. But my aunt was
on h room tod authritis since the last thirty four years.

(01:10:52):
Well to treat room to the aarthritis is medications and
most of them attack the kidney right, So over time
it all interior kitty. Before you know it, they need Dallasis.
But not because of lifestyle or eating habits. It's just
because they're on a medication to treat something and instead
it burns the kidney up.

Speaker 4 (01:11:10):
And now she's on Dallasis.

Speaker 3 (01:11:12):
We had thousands people that we identified through medications they're
on and how long they're on it that A one
C is that werising that we move a one C
from being.

Speaker 4 (01:11:20):
In the hot bed the hot land.

Speaker 3 (01:11:22):
Of any day now you could be on dallasis dallasis
role to being pre diabetic. Lifestyle behavior changes thousands of
people because I care diet next to did diet most
of the diet and medication compliance. A lot of people
don't take the medication. Why sometimes make some shit or
dialysis or not. Dallasis diarrhea, right, sure, a side effects

(01:11:46):
so much health care can be fixed. But here's my
real point. My point is we identified all these triggers
and we did something about it, and through doing something
about it, we gave people longer life, healthier life. Folks
we avoided folks on dialysis and all those impacts. But
not only that, we save a lot of money in
the process, because when somebody is on diallasis guess what

(01:12:06):
it costs every year eighty five thousand when you include
the dialysis and going to the emergency room for a
couple of times. It's being impatient eighty five thousand dollars years.
But I'm only pay five thousand, which means I'm losing
eighty thousand dollars per person on dallasis so what did
I do.

Speaker 4 (01:12:17):
I'm getting on the front the moment. But what happens there,
I save.

Speaker 3 (01:12:22):
Money and people have better healthier lives.

Speaker 2 (01:12:25):
Right.

Speaker 3 (01:12:26):
But that's a little old Tommy Dunky because Tommy duncan,
which also I care about people, and the profit goes
to my own pocketbook.

Speaker 4 (01:12:36):
So I'm doing.

Speaker 3 (01:12:37):
These things which are making a big difference that big
companies aren't doing them. But if they actually incentivize, if
you get your cost lower, which you can only do
it doing things I just share with you, then the
big companies will actually do what I'm doing, and they
would do it way better because they have all the
resources in the world, but right now they have no
incent incentive to do it. Instead, then centive is just
keep things status quo, which is why health care outcomes

(01:12:57):
and status quo and the cost of system keeps going
up every year, and the governor and the governments don't
do it.

Speaker 2 (01:13:03):
How do how do we change it? Get political action?

Speaker 4 (01:13:06):
Political action, man, You just got to get political action, man.
You got to get black governor. That's my that's my
that's my headline. Get the black governor. That's what you
need to do.

Speaker 2 (01:13:16):
When it's the last black governor in America. It was
in Virginia, New York own the last guy. But that
was that wasn't real long he was the governor. No,
no disrespect to Patterson, but he wasn't elected.

Speaker 1 (01:13:29):
He wasn't elected, but he served as for he got
out of this.

Speaker 2 (01:13:34):
But yeah, somebody coming in, got it, you know what
they're doing. Virginia that was the last elected black governor.

Speaker 3 (01:13:40):
Yeah, this guy named I can't remember his name, but
somebody really coming in. You know, it's a plan that
what they're doing. They got a squad. You know, they
have relationships now, you know.

Speaker 2 (01:13:50):
But even but even with the governor, like even if
it's a black governor's like, I feel like you know
better than me obviously, But this billions of dollars that's
made in people being sick, Like you might have been
losing money, but there's other companies or other people that's
actually making money from people being sick. Treatment hospitals, companies, companies. Yes, Okay,

(01:14:12):
so the lobby it might be, you know, too strong
to push it, no matter who's the president or the
governor or. I agree with that, but somebody has to
have audacity and eliminated medical loss ratio actually can be
viewed as a positive thing, even for the biotech companies,

(01:14:33):
because then they would start to design things and market
to the provider groups and insurance companies like actually keep
people healthier and out the hospital. This medication is better
or different.

Speaker 3 (01:14:44):
For this reason, the government has taken the stance because
of what I shared earlier that if you do not
police the insurance companies from skimping on care, there will
skimp on care and that will be to the detriment
of the public. And what I'm sharing with you is
the way the system is designed from the inside. The
only skip you can do is no more than ten
percent of total spending. So you're sacrificing nine three percent

(01:15:04):
because of this seven percent which happens all the time.

Speaker 2 (01:15:08):
There you have it, Ladian and gentlemen, Princes Detroit has
spoken another classic. I appreciate you, brother, So what what
what do the people need to tap in? Well? Can
you say your information? All the information that you have
about jet dot, Instagram, website and all of that stuff.

Speaker 3 (01:15:23):
I do it all, but before I do, I just
want to make the comment. Any entrepreneurs out there, do
your research on your business. You know, research the industry.
What are the success rates where the failure rates and
failure rates are okay, but why do they fail? You know,
calculate your risk. Don't just jump out there. Calculate it,
you know, particularly if you're an adult, meaning you have
you know, responsibilities and you just can't.

Speaker 4 (01:15:46):
Just quit your job.

Speaker 3 (01:15:47):
I know so many people quit their job, think they're
going to open the business. Then the business don't work, then
they don't have a job board business. You know, all
my businesses I started, I had something already gone right
at this going I started, mind, so calculated my risk.
Yeah I could lose it all, I could lose a lot,
but I ain't gonna lose it all. At the time
I started my decent business, I had a son, I
was married with a son, and my wife was pregnant. Right,

(01:16:09):
so I did these things. Again, I calculated my risk.
So do your research. Understand your industry. Understand what is
the best upside. Are you going into a lifestyle business,
meaning you just want to be profitable and you make
a million dollars a year, and you know, if that's
the highest subside. That's a great lifestyle. But no, that's
what you get into. Or you're trying to do a
value creation business.

Speaker 2 (01:16:28):
Do what I did.

Speaker 3 (01:16:29):
You create something that may take a little more time,
maybe it goes fast becus the technology. But guess what
now you sell it four hundred million dollars billion dollars
and then you actually get a lump sum of money.

Speaker 4 (01:16:39):
And I wanna tell you this.

Speaker 3 (01:16:39):
When you get lump some money, it's a beautiful thing. You
could make five million dollars a year. That sounds good, right,
you can make ten mill a year, But then you
got half of taxes, and then you got lifestyle. You
got a big house, you're living out here, you got
a thousand cars. You know you're spending your money. But
you get that lump sum, that big check that mighty
be working for. You got to work that money working.
You did what I'm say saying, like my money works,

(01:17:01):
I ain't gotta do s hi t. My money be
working in the stock market and this it's just working
on its own. And that's where I decided I wanted
to be and that's where I'm at. But really, know
what you're trying to get into and what you're trying
to get out of it. You know, do your research,
do your homework. When I want a contract in DC
is because I did. In addition to all things I
talked about, right, you know, I did a political stuff

(01:17:24):
and government contracts to people and all that kind of
smooth stuff. But also I put together the best plan
for the district.

Speaker 2 (01:17:31):
Right.

Speaker 3 (01:17:31):
I understood where the power was it was in DC.
I understood the program for cbe for the minority business
of DC. I understood all the healthcare can all the
I read every article about healthcare in d C. DC
is broken up by war to eight wars, like borough
is probably New York. I understood the health issues of
each borough in New York, and I put together a

(01:17:53):
plan for and so anyway, I just really avied to
do their homework. You know, calculator the risk, do your home,
but take risks.

Speaker 2 (01:18:00):
Right.

Speaker 4 (01:18:01):
My shirt says what high risk. I'm a high risk, hard.

Speaker 3 (01:18:06):
Reward guy, you know. But you know, if you want more,
you gotta do more. That being said Tommy two duncan on,
I g at Tommy too.

Speaker 4 (01:18:14):
Duncan h.

Speaker 3 (01:18:17):
Jet doc my jet doc on I g jet dot
dot com. The Prince of Detroit film. Go check that out,
Prince of Detroit Film. That's what I'm doing.

Speaker 4 (01:18:26):
I'm having fun with that, and I got other things popping.

Speaker 3 (01:18:29):
But what I love to do on anything Rashot and
Troy's talk about entrepreneurship to help people be successful. I
feel like that's what what's missing in our community is
real mentorship on kind of ropes to skip the ropes
of note and I feel like y'all are doing it,
and so I appreciate you having me on the show
to do my little part.

Speaker 2 (01:18:44):
Thank you, appreciate you, man. I'm glad we was able
to connect. Definitely look forward to, you know, establishing a
stronger relationship, tons and tons of information and it's one
of these things where we don't know a lot about,
you know, the type of informational topics when it comes
to healthcare. Yeah, and just to have somebody you know,
that we can relate to. That's kind of been the

(01:19:04):
formul of our success is just bring people on that
people can relate to and break down very complex situations
and make them understandable.

Speaker 3 (01:19:12):
And that's what you did. So thank you for joining us.
Can do one more thing, for sure, one more thing
all right right now, because of social media. Every industry
is up for disruption. It's the first time in history.
So before you know, most black people, folks who come

(01:19:32):
from where we come from, had barriers right resources, know
how I talked about that like real mentorship, but even
access to resources. How do you get to clients? It
costs money to market. Now through social media. I promise
you everything is up for disruption. You could start a
hot sauce company, mark that hot sauce and before you

(01:19:53):
know it, you'll be bigger than Red Hot. You look
around at pillows, anything you can, it's all up for disruption.

Speaker 4 (01:20:02):
It's the first time in history. That's the case where
people can go.

Speaker 3 (01:20:04):
From whatever they're doing to become a billionaire overnight because
they can talk directly to consumers.

Speaker 2 (01:20:12):
That's like us. We also said the whole industry when
it comes to finance, and we have a show called
Market Monday. Shot to Ian our partner on that, and
it's like massively successful show. Every single Monday. We talk
about stocks and investing. So shout out to Josh Brown.
Josh Brown is on CNBC and he's been on Wall
Street for like thirty years. Good guy. So he was

(01:20:33):
talking and he was like yeah, your legia. They got
the show and he was like them, they're influencing financial markets.
He's like, there's like seven thousand people watching the show live.
Like they're influencing financial markets more than anybody on the street. Geez.
He said that, and that was crazy. But it's true crazy,
and it's like you know what I'm saying. It's just

(01:20:53):
say it's like it that's game changing, man.

Speaker 1 (01:20:55):
Yeah, the disruption at its finance. So I'll leave you
with this.

Speaker 3 (01:21:00):
Make sure you know as you're doing what you're doing,
have somebody legal doing your research. Keep you all in
compliance because it's more prowfer you get, they'll be coming
at you.

Speaker 2 (01:21:08):
Yeah, that's what just said that. He just said that.
That's what Dave said yesterday. That's a fact. No, I
appreciate that, brother. Definitely definitely Troy housekeeping idols. Man, I
want to. I want to.

Speaker 1 (01:21:21):
Dame also said that we should mention this that there
was a Wolf of will Street.

Speaker 2 (01:21:24):
This is the Wolf of Healthcare. Yeahl of health wolf
of Healthcare.

Speaker 1 (01:21:27):
And I had the word Prince of Detroit, but we
might have to nominate them for another title.

Speaker 2 (01:21:35):
Because this is this is pretty legendary. That being said
Shout out to Jed Talk.

Speaker 1 (01:21:39):
And one of the things I know that you guys
prob yourself on is affordability and accessibility, and so I
want to encourage people just to check it out. Just
check it out. But yeah, shout everybody on pictureon dot com.
That is our product to paid program. Shout told earners
that are on there. Shout to everybody in e y
L University staff has grown, y'all. Shout out to the
earners and shout everybody. Uh with the merch.

Speaker 2 (01:22:01):
I know y'all see us with the exclusive merch. Oh,
speaking of Detroit, shout out to my boy Chill. Oh yeah, yeah, no,
that's Southwest's son, and he gave me this murch He's real.
He's a friend of a good friend. It's very rare
when we wear something that's not show. But my man Chill,
they just got in the legal marijuana business. They're working
with Al Harrington. Shout out to Al Harrington Viola and

(01:22:23):
they got a strand and this was the drop of
his new strands. So shout out to Chill. Shout out
to his dad Southwest. He got a chance to chop
it up with him. Good guy. Shout out to all
the guys in Detroit, man, real, real, solid, old school
type of just get money. Yeah, you know, it's a
good vibe out there. That's my city. I like it, man.
So shout shout out to my boy chill Man. Yeah.

Speaker 1 (01:22:45):
But again, shoutout to the merch team. Shout to that
boy Mike Iye Boguard for the exclusive drops. We got
something that we brewing. Trust me, it's going to be major.
Uh Yeah, love us love, Thank you guys for rocking
with us. We'll see you next week.

Speaker 2 (01:22:57):
Peace. My graduates from my school being false backdrop b
drop a mic drop backdrop Drop earners. What's up?

Speaker 1 (01:23:20):
You ever walk into a small business and everything just
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Speaker 2 (01:23:41):
Of our merch partners.

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Square makes it easy for them to take payments, manage inventory,
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(01:24:03):
restaurant and even started catering events across the city. That's
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