Capitalism for All with John Hope Bryant, DC Young Fly, and Karlous Miller | 85 SOUTH SHOW - The 85 South Show with Karlous Miller, DC Young Fly and Chico Bean

Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Don't got that out old.

Speaker 2 (00:02):
I mean I got I gotta get first. So those
are handmade in Japan.

Speaker 1 (00:08):
The boy went over. So you got them? Oh do
you buy mine? Oh? You just ain't saying that.

Speaker 2 (00:15):
All ball Maine are not the same.

Speaker 1 (00:17):
I know who Bone is, Okay, get what he ain't.

Speaker 2 (00:21):
But the Blue Verse, you are any Blue Verse? Had
those for four years?

Speaker 1 (00:31):
Oh they're good.

Speaker 2 (00:32):
They're handmade.

Speaker 3 (00:33):
Uh, And I mean because you know eight hundred bucks
or whatever. They feel grand on my face. It doesn't
you know nothing worse. You' put the glass on your
face and your nose, Your nose hurt, in your ear,
your ears hurt, and your head's ringing. I'm just saying
that if you buy it right, you buy it once.
Unless it don't matter. Yeah, no, man, glasses don't matter

(00:54):
that you.

Speaker 2 (00:56):
Just take these ships off and leave you look them glasses.

Speaker 3 (00:58):
I know that's ten pair of readers for that same
exact reason, because it doesn't matter to it.

Speaker 1 (01:04):
No, I don't get me wrong. I am recard of
your collector.

Speaker 2 (01:09):
Shall I pop it?

Speaker 1 (01:09):
I will pop just once.

Speaker 2 (01:11):
Yeah.

Speaker 4 (01:12):
I got about fifteen different different CARDI of years from
different places around the world.

Speaker 1 (01:17):
But as you wear.

Speaker 4 (01:18):
Them, three four usage they loosen up. So in my head,
it don't matter the number that you spent.

Speaker 1 (01:25):
I just spent fourteen dollars on some on some shades.
That's uncomfortable.

Speaker 4 (01:30):
I spent twenty dollars on some shades and I'm still
getting the same pussy that I was getting.

Speaker 2 (01:37):
With the other shade.

Speaker 1 (01:38):
Say, I just wanted to experience. The experience didn't get.

Speaker 2 (01:41):
Me what I want. Sure, what's your restaurant?

Speaker 1 (01:44):
You guys, I'm just in the club. So niggas say
I ain't in the club.

Speaker 2 (01:47):
My next question, I'm in the club.

Speaker 5 (01:49):
Why would you be a collector of some shit that
you know ain't gonna last.

Speaker 1 (01:55):
It's not that when I was young and I was
doing it.

Speaker 4 (01:58):
I was young, but I'm like twenty five, you know,
nigga twenty five bro.

Speaker 1 (02:01):
I ain't never had fit on this.

Speaker 4 (02:03):
Nigga twenty five years old, I ain't never had ship.
I got stick sham Cardier boy. I always wanted to Cardier.
The Cardier's I brought back in the day. They were
thund it out.

Speaker 6 (02:10):
I know they go to fish cart me bitch with
ja your car them lor Wayne.

Speaker 4 (02:16):
So now that I'm in the club, I'm like, ooh,
I got Callie.

Speaker 5 (02:19):
But I'm like, you bamed, that's what niggas you baum
and you know that they has here, but you know
the type of lifestyle.

Speaker 2 (02:27):
You live, and they not conduced it. They're gonna get
loose and it's all out.

Speaker 4 (02:30):
I'm not buying them to whim at this point, I
was buying them to say, ooh, you can't grab these
because they only made these in Puerto Rico.

Speaker 1 (02:38):
Ooh I got these, motherfucker because they was over there.
You go, damn believee on Weddy because I know another
motherfucker ain't got them. I want to have them.

Speaker 2 (02:48):
Said, it's up.

Speaker 1 (02:49):
That's the nigga sation ship. I'm like this, I know
you ain't with the believe and get these.

Speaker 5 (02:54):
That's not That's why they was on there arguing about
the ap in the Swatch collection.

Speaker 2 (02:58):
It ain't that you give a fuck about it. Ap.
You just in one other niggas that had and ship.

Speaker 1 (03:02):
It ain't that, bro.

Speaker 4 (03:03):
When you ain't having and then you start getting it,
and then you realize what it takes to get it, you.

Speaker 1 (03:08):
Like, damn, when I didn't have it, you ain't reached me.
You ain't make sure I had an AP. I waited
until I got AP game.

Speaker 4 (03:18):
Now you like you know what, But see it's not
about that AP.

Speaker 1 (03:21):
Finna make it make a killing.

Speaker 2 (03:23):
And plus they just dropped the little pocket watch.

Speaker 5 (03:25):
Motherfucker actually thought they were finna get a bus down collaboration.
Brother made a pocket watch, the hang off your belt man,
and all them niggas like y'all.

Speaker 2 (03:36):
Did all that arguing for a collaboration and they made
a pocket watch, not a risk watch. And man, they
got a three dred dollar AP.

Speaker 5 (03:45):
They then put all these fake Aird pictures out, different
color ways and everything.

Speaker 2 (03:49):
They ain't never even said that the end of the episode.

Speaker 1 (03:54):
So it's a market. It's a market.

Speaker 4 (03:55):
We're gonna fake like we finna put somebody there for
the buy, get them to come in the stow and
buy something else.

Speaker 2 (04:00):
Are they gonna do it every time?

Speaker 1 (04:01):
They're gonna do it every now. Consumers is crazy. It's
about the money. Man, I can trick you in to
buy some ship. He was them three hundred dollars one
let No, I ain't in there, but we got the
nine hundred.

Speaker 2 (04:12):
I would show out of them you sold.

Speaker 1 (04:15):
I don't know.

Speaker 4 (04:18):
Order, So you know how niggas is. They don't want
to come out the store without nothing. I got to
look like I'm doing what I'm doing. Nigga that spent
everything that just to look like you do. Don't nobody
to give a fuckut nothing. What's in your bad Nobody cares.

Speaker 2 (04:33):
Mhmm. You know, I was looking through my glass ladd night.

Speaker 5 (04:40):
I got some metal glass, the one that record, right,
I ain't recording ship on that by recordings.

Speaker 3 (04:47):
Officials start for your interviews, and you just we're gonna
have an official.

Speaker 4 (04:51):
Yeah, weap We're gonna start off with.

Speaker 2 (04:54):
The glass and then get the voices warmed up and
then yeah.

Speaker 4 (04:58):
We started off with the glass without you pop it off.
Some people that were still humble.

Speaker 2 (05:02):
We talked about capitalism. There we go.

Speaker 1 (05:07):
We hum back.

Speaker 2 (05:11):
We don't want them to be expected too much.

Speaker 1 (05:15):
Pop every blue moon, but oh guys.

Speaker 2 (05:17):
Welcome back to the eighties.

Speaker 1 (05:19):
Laves now the hot toss package we don't use. We
put them in the refrigerator.

Speaker 2 (05:24):
Yeah, we have an official start handing.

Speaker 3 (05:26):
It's better underestimated and overperform, the overestimate and underperformed. It's
better to underestimate and overperform. Right, then overestimate and underperformed,
that's what you said, lower expectation. Yeah, the people don't

(05:47):
know what's coming, and then you then you slam.

Speaker 1 (05:49):
Them, hit them with the surprise.

Speaker 2 (05:51):
Yeah. Yeah, it's a beautiful thing. They didn't think we
was gonna make it this far.

Speaker 5 (05:55):
They had already underestimated us way from the beginning.

Speaker 2 (05:59):
Yeah, and then see us do great things and they
be like, man, we're so proud of y'all. I'm like,
proud of what we even did, what we were really
about to do. Y'all tell you, man, congratulations on all
your susassnigga, what success?

Speaker 1 (06:12):
They just happy head we steal together. Mine can't believe
y'all can sit right there and be free ten years.
That's a long time.

Speaker 2 (06:18):
Ain't nobody got your guy? Y'all boys on the store,
y'all doing shit, Keep doing what you're doing.

Speaker 5 (06:26):
And in my mind, I'd be like, what gave you
the inclination that I wasn't right?

Speaker 1 (06:31):
What made you.

Speaker 2 (06:32):
Feel like I was about to stop doing?

Speaker 1 (06:34):
What the fuck I'm supposed to be doing?

Speaker 2 (06:36):
This? Ain't even it?

Speaker 1 (06:37):
This just the beginning.

Speaker 2 (06:38):
Wait till they give me the money.

Speaker 3 (06:42):
The very fact that you guys are in the same
building with the same crew, with cameras you on. With
a building that don't have a red notice on the door,
some of these are gonna get fired. But keep going,
I mean with lights that are on. I mean, this
is success here and of itself. I don't know many

(07:03):
brothers who have their own platform, their own effectively your
own studios.

Speaker 2 (07:09):
You're gonna blow eye coming, don't do that.

Speaker 5 (07:12):
Don't tell them to stut they thought were the white
folk here we written this.

Speaker 1 (07:18):
White man, don't come back, don't hold.

Speaker 2 (07:20):
The man, don't do that. That report out of the crack.

Speaker 3 (07:24):
Actually in the worst war in the world.

Speaker 2 (07:31):
Now that means a lot.

Speaker 5 (07:32):
Though we sat down and we talked about it, like
we haven't got all this money, ain't no nothing you
can walk up and touch though, ain't nobody got no building.
We then supported all these underground rappers and said that
they was to see we should have been able to
go take a picture by the wall like you can
in motown rudios.

Speaker 2 (07:51):
That not saying they don't have one, but we need
to see that. We need to see how people owning
some ship. Yeah, especially in the city like Atlanta. I'm
gonna pull up.

Speaker 5 (08:01):
And support whatever they got going on Yeah, Bank Head,
Steve Food, Hooker Lounge or you know all the all
the places that they say got the grass on the wall.

Speaker 2 (08:10):
That's all I want to go to.

Speaker 1 (08:12):
Yeah, I went to t P Studio. I just walked around.
They thought I was up there. I want to be
here for I like the grass. I'm going to the
back where they know nobody go. Yeah, I'm going. I'm
seeing all this.

Speaker 2 (08:22):
You see the grad You got a little pawn over them.

Speaker 1 (08:24):
We got an army base and it's really he kept
the building. Got some ducks the same lights. It's oranges
hailing up.

Speaker 2 (08:29):
He's seeing the ducks. Then got some ducks over there,
really living.

Speaker 1 (08:34):
You know I could have with the duck.

Speaker 2 (08:36):
I don't know that name. He said t P. I said, oh,
t P. You know him like they didn't know that
the Periodidy.

Speaker 1 (08:42):
You ain't know what I'm talking about.

Speaker 4 (08:44):
You get it, you know what I'm saying, Nigga, I
don't know who the t P.

Speaker 1 (08:50):
Nigga, you got to know the names.

Speaker 2 (08:53):
That's T Paint or nothing. I ain't getting no more.

Speaker 3 (09:00):
Period and talk about own is something I mean that
could be our that could be a black version of
Disneyland or or what's that in uh In in Los
Angeles and uh there's a studio Universal that could be
the black version of Universal Studio. They should be. There
should be tours. There should be you know, family tours.

Speaker 2 (09:18):
Who there.

Speaker 3 (09:18):
I mean it is he's got a huge piece of
real estate there and I mean he's a friend and
he's done, he's done an incredible job and history has
not has not given him the respect that he deserves.
I mean, he's right here in Atlanta. Nobody talks about it.
Is it is unbelievable, for sure, he definitely doing it.
Doing it definitely need to be like a tour, some
tour ship going.

Speaker 2 (09:38):
Around and you guys are doing your thing.

Speaker 1 (09:40):
So they need to bring that tour on down here too.

Speaker 2 (09:43):
You get your own tour, the Hood tour.

Speaker 1 (09:46):
Now we want to brand the Hood already. Know.

Speaker 5 (09:48):
I think by the time we get to the Hood
l C, when we get our second studio, that's when
we really get we'll get our own exit and all
that too.

Speaker 2 (09:59):
Just the starter one. Yeah, then we get to the
big one. Yeah, yeah, then we'll really get it.

Speaker 4 (10:03):
They I already got eighty five South God is real
in the state, absolutely, but they.

Speaker 1 (10:08):
Need to have like eighty five South. We like eighty
five South Studios.

Speaker 5 (10:14):
I don't think I don't want to be that that
flavorite though. I want you to have to be with
somebody who nowhere is like, yeah, it's.

Speaker 2 (10:21):
Right over there.

Speaker 1 (10:21):
I don't want Yeah, you know you don't want no side.

Speaker 6 (10:24):
Okay, Yeah, you got to be invited, Yeah, invitationally.

Speaker 3 (10:32):
Destination location exactly. Prince was like that, See, you have
to go to Minneapolis. He didn't want to be in Hollywood.
You had to go. You had to go out of
your way.

Speaker 1 (10:41):
You went to Minneapolis.

Speaker 3 (10:43):
Of course, I've got office is Minneapolis. At the point
I'm saying, Prinsley Park, Paisley parkment. If you want to
go see him, you had to be intentional. You didn't
just show up in Minneapolis. No one's just rolling through Minneapolis.
You had to be intentional. But he wanted to separate
himself intentionally. He didn't want to be part of the
Hollywood scene. Even when he changed his name, that was
a brilliant deal. He changed the name to a symbol

(11:05):
that was not We thought it was artistry. That was
about intellectual property rights because his name Prince was tied
up with his contracts.

Speaker 2 (11:13):
The crazy boy is he never named the symbol. He
didn't never the symbol legal victory.

Speaker 1 (11:24):
You play basketball too good, he was.

Speaker 5 (11:28):
He was like that, all right, Well, since you like
introductions so much, welcome back today now, d see, we
got a special guest in here with us today, Broke.
Because this this is the crazy part. Every time he comes.
I don't never have no questions. I didn't want to
sit back and ship the hell up and really takes

(11:49):
the notes because you know what he's talking about. He
got a new book out that's already a New York
Times best selling.

Speaker 3 (11:55):
New York Times US say today.

Speaker 1 (12:00):
And fifty the Lost two.

Speaker 5 (12:05):
Nigga, you don't get to be on a best seller
without hitting all the lists on the list. That's sending
year certification in a minute, capitalism for all a black man.
Come on now we're being ready to get our money
up this episode.

Speaker 2 (12:21):
None other mister John.

Speaker 1 (12:24):
Yes up, we're getting out. Go back shoe box all
my real nigga. Go that shoe box shin to get rial.
Sit real close to the to the TV man.

Speaker 2 (12:34):
Notebook out, get your notes together.

Speaker 1 (12:38):
And go to bed.

Speaker 2 (12:38):
Yeah, this is this serious business right here.

Speaker 1 (12:41):
Come on, take some notes. I get some money on.

Speaker 5 (12:43):
Yeah, he ain't talking about what he heard. He actually
doing it, exercising it. And look, he didn't gave you
the game in the whole book, man, so make sure
you go check that out.

Speaker 2 (12:53):
How you doing, brother? Back to you.

Speaker 3 (12:57):
Know, I must tell you out of all the stuff
that I that I do, and most of it is
pretty forgettable, like you know, you do it, you know,
but I don't think about it again.

Speaker 2 (13:09):
I thought about being with you guys.

Speaker 3 (13:12):
I think it was a year and a year and
a half ago, and it was one of it was
really like one of my most special moments. And it
was so proud to see all these brothers and here
trying to do it right. And and I'm out of
to come back. So you guys are really killing the game,
and you're doing it right. I've watched you, I watch
your stuff online. You're funny.

Speaker 2 (13:30):
Is it just?

Speaker 3 (13:31):
I'm so glad that Charlemagne put me together with Chad
and everybody, and you guys just you're making You're making
smart sexy.

Speaker 2 (13:39):
It is.

Speaker 3 (13:40):
We've been making dumb sex even way too long. We've
dumbed down and celebrated it, and you're making smart sexy again.
And I appreciate that, and you're talking in a way
that our community can relate and putting information where they
can get it so we can find that ladder and
climb up.

Speaker 2 (13:55):
So I love that. So let's get at it.

Speaker 5 (13:57):
That's always been one of the goals of this platform. Man,
to make them laugh, make them think.

Speaker 4 (14:02):
But you put them on some game, man, you know
what I'm saying. They say the game is meant to
be so not told. But I'm like, but if you
tell it, you get people out the way and let
them figure it out for themself. You're still be trying
to sell a recipe that don't work.

Speaker 1 (14:14):
That ship don't work. To tell it.

Speaker 2 (14:17):
I'm still focused on your four dollar glasses.

Speaker 1 (14:19):
Yeah, man, you should have saw them.

Speaker 4 (14:22):
Boy, I'm telling you man, so all the comfortments like
who wasn't like them?

Speaker 1 (14:25):
Boy, you don't understand Amazon? Get that free shipping. It
gonna take them minute, but you pay five hours. Come
to the day't they dine the screen? I had to
get it from China today an hour, like.

Speaker 2 (14:41):
You want to day.

Speaker 1 (14:41):
I get it through the day.

Speaker 3 (14:45):
That's my Yeah, you guys, and you guys have each
other's back, which is riches just really rich a lot
of you know, you get a lot of black folks together.
I hate to say it, and it just it gets interesting.

Speaker 2 (14:56):
It be one and one hater that always doing it
for the bunch. We can beat nine hundred deep. It's
always gonna be one month, but one in your group
if it's here. I mean there's drama everywhere.

Speaker 3 (15:10):
But when I was here for a half a day
last time, it was harmony from the moment I hit
the door, the moment I let nothing but positive energy.
And black men who are who understood this one thing?
God gave you two ears and one mouth, so you
listen twice as much as you talk. And so when
people hear somebody that makes sense, they they they I'm
afraid they shut up and listen. When I hear somebody

(15:31):
know stuff that I don't know, I shut up and listen.

Speaker 2 (15:34):
Uh. And so you know, just much much respect? Can
I can? I? Can? I drop a couple? Come on?

Speaker 3 (15:40):
I've been looking at this table because I was he
was here before, and I know this table is very
symbolic for you guys, and it's in all your shows.

Speaker 2 (15:47):
It's actually a new one, is say from my guy.
He made he remade it for us.

Speaker 5 (15:52):
It's a black guy. We sent the other one so
he could repair it, and we gonna it's like you said, it's.

Speaker 2 (15:56):
A piece of history. But put that and put it
in your museum, the new updated version.

Speaker 3 (16:00):
Yeah, it's hot. This is not a table, what is it?
This is a negotiation point. This is so I'm about
to unpack capitalism. So in this example, you're the consumer
with your four dollar glasses and you're the capitalist. Right,
this is negotiating table.

Speaker 2 (16:21):
All right.

Speaker 3 (16:23):
Your job as a capitalist is to extract as much
money as you can from him while giving him the
least amount of value. That's your job, got it. Your
job as a smart, educated consumer cheap as you are.

Speaker 1 (16:43):
Tight, tight, tight, your job.

Speaker 3 (16:49):
Is to pay him the least amount possible. I can
do that while extracting the most value.

Speaker 2 (16:57):
It's your job.

Speaker 3 (17:00):
The table's job is to be the place where you
come together for this negotiation. And a good negotiation is
when everybody leaves slightly annoyed, because that means nobody got
everything they wanted. So when you are in Africa or
in a third world country, it is an active negotiation. Yo, yo,
I'll give you twenty dollars for that. No, no, no, no,

(17:21):
I want you know, how about fifteen? How about eight?
It's back and forth. Now you're negotiating on price, but
you're wasting time. So poor people value price above everything.
Wealthy people value time above everything, so wealthy people want
to save time. When I was coming up, folks would
haggle over that dollar for half the damn day. Now,

(17:46):
going back to this point, when you have a good negotiation,
everybody leaves slightly annoyed because no one actually won. But
the first point I would make is, if you're trying
to extract as a capitalist the producer of those glasses,
you're trying to extract sent ten dollars from him while
giving him those glasses, and he's trying to pay you

(18:08):
two dollars while getting those glasses. You're both doing your job.
You shouldn't be mad at him, and he shouldn't be
mad at you.

Speaker 2 (18:17):
It's not personal.

Speaker 3 (18:19):
At the end of the day, you end up paying
I guess four dollars for the glasses. Maybe your cost
on it was two fifty, So you may make as
much money as you wanted, but you still made enough
to be able to buy to sell, to sell enough
of them. You pay your costs and you earn a profit.
That's the simplest example I can give of good negotiation. Now,

(18:40):
when you go to a store CBS, Walgreens, whatever, and
you buy those glasses off the rack and it says
eight ninety nine or the combe says five ninety nine,
researchers have already determined what you and I are who
would be willing to pay for the comb So the
negotiation has been predetermined. They know that you're willing to

(19:02):
pay instant buying it out whatever, and pull that and
buy and s up. So it's still the negotiating table,
it's just the efficiency has been predetermined.

Speaker 1 (19:15):
Already taken away.

Speaker 3 (19:17):
So even if somebody wants to distribute money, people say,
I want to be a socialist. Even if you want
to distribute money like a socialist, you're the first collected
like a capitalist.

Speaker 2 (19:28):
Did illude you?

Speaker 1 (19:30):
A lot of people don't understand what socialism capitalism.

Speaker 3 (19:33):
Most people don't buy it. Right, So Commune and I
break all this down in the book. Communism is the
state owning everything.

Speaker 2 (19:44):
You can use it, you can use it, but you
can't own it.

Speaker 3 (19:48):
But you can't own it. State owns and controls everything.
So the theoretical example of this is China and Russia.
Let Menna come back to that, because that's a lot socialism.
People will talk about the Nordic countries Sweden, Norway. That's
not Nordic, but yes, it's it's a socialist like Finland,

(20:12):
all right, does the capitalist countries with a heavy taxing system.
All socialism is is a capitalist country that overtaxes the
system so that they're poor are taken care of. So
you said, so, you so so, now you bought, you bought,
you sold, you know, you bought these glasses. He sold

(20:34):
enough of those glasses to be to make a million
dollars as a capitalist the state he now lives in Finland,
the state says, well, we want five hundred thousand dollars fifty.
As a result of that, all of your and my
cousins in this environment, they got their health care, is
taken care of, their roads, roads, food, hospital, help me

(20:55):
out here.

Speaker 2 (20:57):
That's free.

Speaker 3 (20:58):
All that's free. Now, that's a good thing. And so
there's no poor people. Theoretically, all right, theoretically, here's a problem.
There's nobody. There's nobody at the bottom who look like us.
But there's also nobody at the top who look like us.
In that environment in Finland, you won't see any black
people at the very bottom, and you won't see any

(21:19):
black people.

Speaker 2 (21:20):
At the very top.

Speaker 3 (21:21):
What are it in the middle, They're they're stuck in
the working class just below the above, there's there's subsidized
they've been given everything and they've been put to sleep.

Speaker 2 (21:31):
So they just need chilling. Now.

Speaker 3 (21:35):
In a capitalist system, and America is a capitalist system
with socialist tendencies.

Speaker 2 (21:41):
Social security is a socialist.

Speaker 3 (21:45):
Tendency, the something anything, welfare, these programs that help people.

Speaker 2 (21:51):
Somebody say there's socialist tendencies. I think it's just dignity.

Speaker 3 (21:54):
But anyway, in a capitalist system, it's the private ownership
of assets and use of the free market system to
set market prices. Where you own that manufacturing of those
glasses and you get the benefit of selling those glasses,
and he gets the benefit of buying what you sold.

Speaker 2 (22:14):
And if you don't good do.

Speaker 3 (22:15):
A good job, somebody else is going to put you
out of business by selling better. Going to free it's
a free enterprise system. Now it's more brutal. You have
winners and you have losers. So I went from one
of the bottom two hundred fifty zip codes in America Compton, California,
Southern Trola. In the time I Saw You last, Forest
Magazine says I'm one of the two hundred and fifty

(22:39):
greatest living self made Americans.

Speaker 2 (22:42):
Not black, not black, not. In twenty twenty six, on.

Speaker 3 (22:49):
The two hundred and fifty anniversary of America this year
and one hundred anniversary of Black History Month, Forest Magazine
came out with a list of two hundred and fifty
greatest living self Made America. And if it been any
other kind of list, I would have been honored. But
self made is a whole other thing. And they calculated
the distance travel from confidence south Central improbable through done

(23:16):
legally now up through and out the other side. Tyler
Perry's on the list. Maggie Johnson's on the list. I mean,
it's a wonderful list. My friend Oprah Winfrey's number one.
By the way, the historical list of those who passed on.
Number one is Abraham Lincoln. You can't you can't get

(23:39):
this any better. Abraham Lincoln's on the historical list, number one,
the new list, number one, Oprah Winfrey, that's us. Number
two fifty on the list is Martha Stewart. I'm one
forty five up from nothing. If I can do it,
anybody can do it using the legal system. But if

(24:00):
I was in Russia, China, France, Germany, Japan, almost any
place else, I wouldn't have made.

Speaker 1 (24:09):
It because that's a communist situation.

Speaker 2 (24:11):
Well, so let's go back to that. So even the
communist situation is a lie. So what did I say
about Russian and China? I said that was a lie? Right,
So they're communist countries, but they're using capitalism. Mm hmm,
what's uh? What's the TikTok DJ, the dj is DJ.

Speaker 3 (24:31):
I think it is the the the the the drone
company Chinese. I mean it's a huge there's a complete
capitalist system. The government is basically government funded capitalism. So
the government is backing businesses and if you don't they
don't like you, then they silence you, they take you over.

Speaker 2 (24:50):
So you know, it's like we can use capitalism with
jail games.

Speaker 3 (24:54):
Or we or we can you can use it until
we don't like it anymore, and then we shut you down,
put you in prison, or make you dis that's their
form of capitalism. So there is no perfect in the world.
I've been to one hundred countries. There is no perfect
I was in Turks and Kkos yesterday. There is in
the Caribbean islands. Love it's our people. There's no perfect.
But this system has a capacity to take somebody from

(25:16):
slavery to President the United States.

Speaker 2 (25:19):
Of America who looks like us, Barack Obama.

Speaker 3 (25:22):
It has a capacity taking somebody from sharecropping and slavery,
which is Oprah story. In my story, my second great
grandparents were slaves. George Young Fault in the Civil War,
RB Smith, sharecropper Alabama to now. I own forty acres
with my wife in Faeddeville that was slave property, and

(25:44):
Fayddville County was an entire slave county. Ninety percent of
people who lived in Fayddeville were slaves. In the eighteen hundreds,
I bought intentionally. I bought sixteen acres, and then later
on in the white family next to me that had
a situation and somebody passed away and wanted to sell,

(26:05):
I bought twenty seven acres next to me. You can't
make this up. Forty acres and a mule. I got
forty acres in a sprinter van, and in eighteen sixty five,
Civil war ended, I really shouldn't say this, but my
dress is eighteen fifty six.

Speaker 2 (26:24):
You can't make this up.

Speaker 3 (26:26):
And so I completely flipped the script in a slave
county where I'm one of the biggest landowners and I'm
about to buy some more land next to me. But
I did all that through the free enterprise system. I
did all that legally, And to me, that's making smart sexy.
Knowing how this system works and making it work for
you versus working us is how we flip the script.

(26:48):
And that's what you guys are doing in your own,
your own way. And let me just say this one
last thing I said I was going to be disruptive tonight.
I'm saying this to you. I mentioned it on a
post I did this week, but I'm I even said
it to anybody publicly. One of the reason I like you,
guys is that when I talk to you off camera,
you really are smart, like you know your stuff. And

(27:10):
the one area where you can be a single expert,
you don't need to be smart, just a single expert,
is comedy because everybody wants to laugh.

Speaker 2 (27:17):
Everybody needs to laugh.

Speaker 3 (27:18):
It never goes out of style, and good times is great,
and bad times it's like oxygen.

Speaker 2 (27:25):
But every place but comedy.

Speaker 3 (27:29):
Being X is not enough. Being pretty is not enough.
Having a big ass is not enough. You know, having
a wig and you know manufactured body. Being smart is
not enough. Just make it up whatever. Being cool is

(27:50):
not enough. But if you look at the generation of
our people who now were brilliant, but we are now
under this mistaken perception that on Instagram or whatever platform
they're on that if you're smart, if you're pretty, if

(28:11):
you're handsome, if you're a genius, if you're a great athlete,
that's enough.

Speaker 2 (28:16):
It's not.

Speaker 3 (28:18):
And you're going to get your heart broken. This world's
going to break your heart. And what I'm trying to
do is to bring you into the real world because
something's happened that hasn't happened ever in our history. We're
in the third reconstruction right now. Cover all this in
the book, and I can break that down if you
want me to. First reconstruction, slavery freedom, second reconstruction, civil

(28:40):
rights movement, access, third reconstruction now twenty twenty four through
twenty thirty five. In my opinion, from the streets to
the suites, from civil rights to civil rights, it's about ownership.
First of all, it's about owning ourselves. Got to own
your own arrati. You gotta know who you are. If

(29:02):
I don't like me, I'm not gonna like you. If
I don't feel good about me, I'm not gonna feel
good about you.

Speaker 2 (29:06):
Claire Hayden.

Speaker 3 (29:07):
If I don't respect me, don't expect me to respect you.
If I off a purpose in my life, I'll make
your life a living in hell. Whatever goes around. So
ownership starts with mindset and self esteem, which is different
from self confidence, owning your own story, and then it
goes to assets. Now we think we won no no, no,

(29:29):
it was one for us, second reconstruction and Basil Young
it just spoke to him today, last living lieutenant for
doctor Martina King and Junior ninety four years young. We
see these people in Atlanta and we take it for granted.
Seeing Andrew Young's like seeing Nelson Mandela. You got the
King family walking around, you got the I mean, it's
unbelievable what we got here in Atlanta.

Speaker 1 (29:51):
It's like this.

Speaker 3 (29:51):
My wife calls Atlanta Wakanda, like it's unbelievable. In the
city economy is the same size as Singapore. Man five
hundred and eighty billion dollars a year, and.

Speaker 2 (30:01):
You're part of it. And it's black.

Speaker 3 (30:03):
Well, it's diverse, but it's run and lead largely by
people of color.

Speaker 2 (30:08):
There's no place in the world that this exists.

Speaker 3 (30:14):
And eighty billion a year in GDP, which is Greater
Atlanta the same size as the country Singapore.

Speaker 2 (30:20):
Not the state of Georgia.

Speaker 3 (30:22):
And the city of the Greater Atlanta, the seven counties
of Greater Atlanta is a bigger economy than the country
of Singapore. I'll go once it's all this is in
the book, I'll go one step further. You can take
the city of Atlanta, take the state of Alabama, the
state of Mississippi, the state of West Virginia, and the

(30:45):
state of Georgia, absent the city of Atlanta, Greater Atlanta,
all inside of the economy of Atlanta in Atlanta still bigger.

Speaker 2 (30:57):
That's how amazing what we have done is.

Speaker 5 (31:02):
I'm gonna say it one more time for the people
I know watching this show. It's a lot of we
got a lot of we got the whole hood watching this. Bro,
you heard that Great Atlanta five hundred and eighty billion.

Speaker 2 (31:15):
Don't say, ain't no money at him.

Speaker 3 (31:16):
Man Busy's airport in the world, in the world, the largest,
the only international city in the traditional South, the most
diverse place in the traditional South, the only place where
black the only color is green.

Speaker 2 (31:34):
Folks too busy to hate.

Speaker 3 (31:36):
We picked up a business plan that really, Birmingham, Alabama
should have Birmingham, Alabama should have had the airport Montgomery out,
I mean Birmingham and Abutma. Birmingham, Alabama was the industrial
base for then for the whole South. That's where the
railroads went through. That's were still with manufacturers named after Birmingham, England.

Speaker 2 (31:58):
They were bigger.

Speaker 3 (31:58):
Population, more sophistic dedicated, but they were stuck on race.
They were stuck on in the second reconstruction civil rights movement.
I'm gonna get back to why we think we're free,
by the way, and we're not. But they were stuck
on race, white and black white water fountains and all
that kind of stupid stuff.

Speaker 2 (32:16):
I want to say something else, shit, stupid shit. I
appreciate that. Be my translator.

Speaker 3 (32:24):
Atlanta decided to argue not over race, but over money.
Who got the contract. So Atlanta got a new business
plan and those other places. If you go to and again,
I love Members, Tennessee, great black mayor there now. I
love Birmingham, Alabama, great black mayor there.

Speaker 1 (32:40):
Now.

Speaker 2 (32:40):
I love Montgomery, Alabama, great mayor, black mayor there now.

Speaker 3 (32:43):
But you go to those places with all due respect,
they look largely the way they looked in nineteen sixty
You with me, yeah, fat Take a photo of doctor
King going through the airport in Members, Tennessee when he
was assassinated. If you go to that airport right now,

(33:04):
it lists exactly the same if you used to have
the photo of where he was when he got in
the car outside. And Atlanta has been rebuilt and reimagined
and red vitalis and remodeled. I don't know thirty times
I'm an investor in Centennial, I'm bounced. I'm jemiling around here.
I hope that's okay. I'm sorry, I just feel at home.

(33:25):
I'm an investor with Tony Wrestler. This is three billionaires
from the same family, the same Jewish family, Richard Wrestler,
Tony Wrestler, and their sister.

Speaker 2 (33:35):
They're each one of them are worth.

Speaker 3 (33:36):
Ten twelve billion, fifteen billion in twelve billion each from
a middle class jewishamily. Whenever they were drinking. I want
some of it, the two of them, of the three
members of that family on the Atlanta Hawks, as my
former business partner, Tony Wrestler, and across the street was
now called Centennial Yards. As Richard Wrestler, I'm an investor.

(33:57):
I'm a partner with Tony Wrestler. That was a problem
homes company which I sold. I told you guys, I
sold that for nine figures. And I'm a partner in
Centennial Yards, which is the largest investment in Atlanta since
Atlanta Yards six billion dollars. What it consist of, this
is the This is that we built the downtown. Atlanta

(34:20):
had no downtown, had a midtown, and then had a
Beverly Hills, which is a bucket. There's no downtown. If
you want to go party, you won't go up. If
you want to go have a good time a nice
restaurant and go shopping. You you went from midtown and
you just went up up to bucket. Now we just
snuck up on you. There's a fifty acre development. There

(34:42):
used to be a hole in the ground. It was
used to be called the gulch. That was by the
way the railroad line that Andrew young rode the bus
in on when he.

Speaker 2 (34:51):
Met doctor King in the sixties. That was also the
railroad rail railway line.

Speaker 3 (34:55):
That the Union Army busted up the Confederates on in
eighteen sixty five, and that battle stopped the Civil War.
Without the Battle of Atlanta, for sure, Lincoln would not
have gotten re elected two weeks later.

Speaker 2 (35:10):
And the war wouldn't have ended. In America would be different.

Speaker 3 (35:12):
Atlanta literally sits at the epicenter of American history. Without Atlanta,
you wouldn't have the end of the Civil War. You
would not have the Civil Rights movement. And do you
not have what I now call the Silver Rights Movement
because all of it's headquartered in Atlanta. So now I
want you guys to go drive through mid what was

(35:33):
now called what was Midtown. I'm in Midtown. I call
it a New Dad and I call the town Square.
You'll see the Phoenix Hotel Boom, it's beautiful.

Speaker 2 (35:42):
You'll see Cosmo, which is a cosm sorry, which is
like the Spear in Las Vegas.

Speaker 3 (35:51):
But it's basically, you watch an F one match, team
F one game, or you can watch a soccer game whatever,
as if.

Speaker 2 (35:58):
You're watching it it but you're a bleachers, but you
feel like you're at the event. At the event.

Speaker 3 (36:03):
Live Nation putting the eighty five seat theater that's under construction.

Speaker 2 (36:08):
Right eighty five eighty five. We'll be in there.

Speaker 3 (36:11):
There you go, a bunch of restaurants, entertainment clubs, Virgin Airline,
Virgin Group is putting a new hotel there. This is
all across the street from the State Farm Arena and
Mercedes Ben Stadium.

Speaker 2 (36:27):
I'm doing affordable housing.

Speaker 1 (36:28):
I hope, right right up the street, bat and all that.
Y'all took all that property over there.

Speaker 3 (36:34):
No, we just we're just on the fifty acres inside
the Coach. We're just literally inside where the whole was.
It took seven hundred This is a gangster. It took
seven hundred million dollars to just bring it to the
street level.

Speaker 2 (36:46):
What you mean, up the whole, just to fill up
the whole.

Speaker 3 (36:51):
Which still has trains operating, so you can so you
can build a city. It called seven hundred million dollars
just to bring it to the street. That's why nothing's
been happening at the Coach. But this is the magic
of Atlanta. This is what I'm telling you. This is
not happening anywhere in the South. Nowhere, even Nashville is

(37:13):
a minor version of what's been done here. You guys
have created magic, and it's and it's and it's at risk.
For this reason, we thought we won. We all walking
around like we chilling. Everybody's on Instagram like they won something.

Speaker 2 (37:27):
What you win? What you win?

Speaker 3 (37:31):
Doctor King and Andrew Young and Credit Scott King and
Dorothy hyd and all these heroes and sheroes got Kennedy
Johnson and Honorary President King. The past four civil rights
laws Voting Rights Act, Civil Rights Act, Open Housing Act,
et cetera, et cetera. These are basically, by the way
enforcement actions for a law for rights you already had

(37:53):
in the eighteen hundreds. That's a whole nother conversation. But
they created these laws as a result of that. You
now have a furtive action. You had the EI, you
have set aside contract to the airport, set aside contracts,
you had them with the federal government, building wealth, an opportunity,
access to education, HBCUs jobs and contracts, access to corporate jobs.

(38:16):
Basically the creation of the middle class. So we were
able to cash the check, but we were writing it
and when we were writing it is because somebody gave.

Speaker 2 (38:26):
Us a right to it. Follow me.

Speaker 3 (38:30):
We have the right to vote, we have the right
to have access to a facility, we have a right
to an education, right to contracts. But in an instant,
when somebody came along and decided, you know what, take
it away. I'm tired of all this and convinced through marketing,

(38:51):
bringing marketing, I've.

Speaker 2 (38:52):
Got to give them credit.

Speaker 3 (38:53):
Convince the puppet that somehow this was a reverse discrimination.
You've seen while we are since I've seen you. Last
Supreme Court is struck down something we thought would never
be struck down, voting rights. D I we arg d
I with did them listen anyway? Why argue with stupid?

(39:14):
But the whole infrastructure of what we thought was assured
and we took for granted.

Speaker 2 (39:21):
We didn't go to vote. A lot of black folks
stayed at home.

Speaker 3 (39:24):
Not my problem, whatever that stupid description is, it's your
problem now because last year, three hundred thousand black women
got laid off in three months, and it wasn't their fault.
Wrong place, wrong time, wrong political environment. So we actually
weren't in control of naturally anything.

Speaker 2 (39:46):
We didn't win. It was one for us. You follow me,
somebody said, just kidding. You're on y'alln.

Speaker 3 (39:56):
Then now you're faced with brutal capitalism that may not
be friendly to you. And here comes artificial intelligence hunting
your ass from around the corner, and we chill it.
How we should lie. We've been doing so much with
so little for so long. We could almost do anything
with nothing. Where the rules are published and the playing

(40:18):
through this level, we kill it. Professional sports, we killed it.
I can't remember the name of the athlete, but it
was I think it was nineteen thirty nine Olympic Games
in Germany, Jesse Owens.

Speaker 1 (40:31):
He won.

Speaker 3 (40:32):
He won those medals, and Hitler was some upset because
he said, you know, they were the only race is
whatever master race, and we kicked their rear in playing
by the rules.

Speaker 2 (40:49):
He got up and left. Hitler got up with all
his boys that couldn't take it because God was too dignified.
Just was winning everything. He was winning. He just won
to spread, just won long jump kind of hitting, and
he didn't curse.

Speaker 1 (41:03):
His brother won some medals to.

Speaker 2 (41:07):
But but but he won.

Speaker 3 (41:09):
He won by being smart and being talent and applying
his gifts, and Hitler couldn't take it and walked out.

Speaker 2 (41:16):
At the end of the day. Hitler, five years later
was dead. And and and and and Owens is still
an icon in the world.

Speaker 3 (41:24):
Light always wins because darkness is defined by light, not
the other way around. Badness has failed goodness. And the
devil is a punk. Lucifer's a punk because God. He's
a fallen angel and God gets himber mission to exist.
He ain't s hit But we give all these people,
all these false prophets, all this fake authority, and we
think that they're doing something because it's in that it's

(41:47):
short term, uh, immediate gratification that attracts us. But when
we come back to our core, we're spiritual people. And
you know, the first and walk face a walk up
right in the world with intelligence was a black woman.
I don't know if you know that all DNA in

(42:09):
the world comes from us. Don't don't trust me, look
it up for yourself. The only word that the only
word that includes the only color that includes every other color.

Speaker 2 (42:22):
It's black and black women the only one with the
eve gene.

Speaker 3 (42:26):
His brother historian here. But let me slow this down.
I'm gonna say this again. I don't know if you hurt.
I don't know if you I need you understand what
I just said. This is not a I'm not making
a racial comment here. Because we want to take this up,
they'll cut it. Somebody will try to take to make
something out of something I'm not. I'm not making a
racial comment.

Speaker 2 (42:42):
I like math. It doesn't have an opinion. The only
color this is science that includes every other color. It's black.
And if you don't believe me, look it up for yourself.
So where did all this come from? This is made up?
The racial argument.

Speaker 3 (43:02):
The world's five billion years old organism life four billion
years old, Neanderthal life two hundred million years old, modern
modern Homo sapiens two hundred thousand years old, modern enlightenment
six thousand years old, three thousand years since Jesus.

Speaker 2 (43:16):
So where did racial word white come from?

Speaker 3 (43:19):
Jamestown, Virginia in sixteen twenties because a trader of goods
and services who were using whites and black and dingered
servants together. They were both in denured service, poor whites
and poor blacks. When blacks and whites ran away together,
and they're gonna put this in the book, when they
ran away together and they were caught because they didn't

(43:40):
like how they were treated.

Speaker 2 (43:41):
They were caught. They're friends.

Speaker 3 (43:44):
The overseer came back and said, Boss, we got a problem.
They getting the law. They friends. Boss said, well, why
is that a problem. Well, we can have a race riot.
We cannot have a class riot. We're the class, boss.
And they got us out numbered, they'll run over us.
So they took the poor whites and they said, you know,
you're white like us, don't you. This had never been

(44:05):
uttered before in history. You had white royal members of
the Royal Party, a royal family, you had right, I'm sorry,
I'm not black. You had black members of royal family.
You had black industrials, you had black you had black
people in power, going back thousands of years, tens of
thousands of years. He told this guy, you're white like us.

(44:29):
Now you're in charge of them. I'm gonna give you
two more years running away. I'm getting to give them life.
That was the beginning of slavery. By the word slavery
did not start with African Americans. Slave is a Slavic word.
Slot white, white, white Europeans. We're slaves.

Speaker 2 (44:44):
This is getting too deep. I'm just saying this is
a game.

Speaker 3 (44:47):
So for four hundred years we've been arguing, by the way,
the biggest group of poor people in this country.

Speaker 2 (44:54):
Are poor whites. Hello again, poor people in America are
poor whites?

Speaker 1 (45:04):
Now chicken that.

Speaker 3 (45:06):
Now here's what's my point for anybody Washington's going, John,
don't get it.

Speaker 2 (45:11):
This is all about racism and the white man. Okay,
slow year role for a minute.

Speaker 3 (45:16):
If this is true, why didn't the rich white people
come back and get the poor white people and say
y'all come in with us four hundred years ago?

Speaker 1 (45:29):
What?

Speaker 2 (45:29):
What did I miss something?

Speaker 3 (45:32):
Because doctor King Guy was assassinated in sixty eight with
the Poor Peoples Campaign, trying to help all poor people,
including poor whites. That's one of the reasons he was
taking out before he ever got to Washington, DC. So
if this is racial only, yes, racism exists, be clear
about that. But if this is rare, I think it's
really class disguised as I think it's really about class,

(45:53):
money and power. Races is an interesting, wonderful distraction.

Speaker 2 (45:59):
I guess his all.

Speaker 3 (46:00):
If this was really just about a race and races everything,
why somebody explained to me why there are poor whites
in America? I don't understand it because the rich whites
would have said, poor whites, you're with us.

Speaker 2 (46:12):
That did not happen.

Speaker 5 (46:14):
Well, if you can convince the poor is white man
that he's still better than the black.

Speaker 2 (46:17):
Man in his head mentally, he don't because no critical thinking.

Speaker 3 (46:23):
There was no critical thinking with the poor whites. He
didn't say, am I wealthy like you do? I have
titles from from from England like you do, I have
land like you. He didn't ask those questions. That's critical thinking.
He just said, oh, so I'm now in charge of them.
Now them were his friends. But this changes things, right,
the money.

Speaker 1 (46:41):
Playing that game.

Speaker 5 (46:41):
Even when they see the election in Trump, they get
to the poor whites and they all vote for them.

Speaker 2 (46:46):
They the first ones to complain about voting for him.

Speaker 3 (46:47):
So somebody is riding at the ballot box. Black people,
when we get upset, we ride in the streets. We're
emotional people. When poor whites get upset appears they ride
at the ballot box. It's still writing. Let me tell
you something, Well, you go to a five hundred credit cordinator.
Let's just level the playing field. Think about a poor

(47:09):
black neighborhood. Think about it, and now what you think
about now about a poor white real neighborhood. You tell
me if I'm wrong. Here's what you see.

Speaker 2 (47:15):
The check casher, petty long linder.

Speaker 5 (47:21):
Rip, the own store, dollar tree, family dollars, the liquor store.

Speaker 4 (47:26):
Yeah, in my life nine gas station, Like we just
can't get gas from him or him.

Speaker 1 (47:34):
Him my.

Speaker 3 (47:38):
Neighborhood, poor black neighborhood. And by the way, I'm I
lay it on this book. I mapped every zip code
in America by credit score. You lift a sixty one
years old in a five hundred credit score neighborhood fifteen
minutes away from every father of the credit score urban
neighborhood is a seven.

Speaker 2 (47:56):
Hundred credit score neighborhood.

Speaker 3 (47:58):
You lift at eighty one years of age in seven
hundred credit score Neighborhood'm gonna make this really plain for
our viewers. You're in Chicago, you live in Garfield Park.
I don't know everybody here knows what Garfield Park is.
It's the hood you lived the sixty one years of
age on average, you only get to Social Security. You

(48:19):
get on the freeway and you go to Lincoln Park,
which is fifteen minutes away on the freeway in Chicago,
you live in that neighborhood to ninety years old. What
else has changed but economics. So when you're living a
fireing creditcred neighborhood, you're stressed out, you got too much
month at the end of your money, it's single parent

(48:39):
households's no financial services. It's low credit score or high
cost of living. You fall dead, hypertension, diabet, stroke, Black
on black crime, poverty on poverty, crime. The three groups
that didn't get the member in this country African Americans,
poor whites, and Native American Indians. Wasn't everyone to go

(49:03):
dropping daan in America? Poor white man dying of OPIOI,
addiction depression, essentially, what's going on with Native American Indians
alcohol and alcohol depression.

Speaker 2 (49:17):
I'm gonna say something You're not gonna like it. I
think that seventy percent.

Speaker 3 (49:21):
Of Black people, it's bring as we are clinically undiagnosed, depressed,
explain so much we.

Speaker 5 (49:27):
Wake up in the morning on NINETD n PTSDSD.

Speaker 3 (49:31):
Why am I saying this because the African American experience
is different from the African Caribbean experience. Exactly different from
the African African experience. African African African Caribbean are closer
because slavery for them lasted shorter period of time in
a brutal environment. If you were a slave where I
was at yesterday, in the Caribbean, they kept your families together.

Speaker 1 (49:53):
Am I boring you? Guys?

Speaker 3 (49:56):
They kept your family. It was a nuclear family. If
you were a slave in the Caribbean, mom and dad
and kids. So now you're growing up. Yeah, you're a slave.
It's a horrible thing, but it's a family structure now,
you know. And then when you get out of that.
Now the mayor looks like you, The dentist looks like you,
the robber looks like you. I mean, everybody from the

(50:18):
from from from the top the bottom looks like you.

Speaker 2 (50:21):
To your self esteem is higher, you follow me.

Speaker 3 (50:26):
Your confidence is lower because you're in a effectively a
second or third world country economically America, brutal capitalism. Tell
your kids off, so you have no hope. Hold your
wife down and a brutalizer start hold you down while
they brutalize your wife. So you, as a provider and
the and the and the caregiver, you can't protect her.

(50:47):
You lose your self esteem, You lose your sense of
male identity. You're masculated. They don't want to kill you,
they want to destroy your spirit. It's not personal, it's business.
They want a machine. Now, why why take you all

(51:09):
the way from Africa here to do this to us?

Speaker 2 (51:13):
Is it personal? Please listen to me. No one brought
you all away from Africa because they don't like you.
Why because we were agricultural genius. We were agricultural.

Speaker 3 (51:27):
Geniuses in an age when the gold was cotton and tobacco.

Speaker 2 (51:33):
Please hear me, where was that.

Speaker 3 (51:38):
Crop best fertilized in the South, in the South, and
in the Caribbean and in Latin America. By the way,
the second president of Mexico in eighteen twenties was Mulatto
of African descent. That's a whole nother story. Slavery was
outlawed in Mexico was for forty years. We were outlaw
in the United States. Back to the story, So African Americans,

(52:06):
our self esteem was destroyed intentionally so we wouldn't fight back.

Speaker 2 (52:11):
But they needed people who could take dead.

Speaker 3 (52:14):
Soil Africa under harsh, heated conditions and bring it back
to life.

Speaker 2 (52:20):
That's what we did.

Speaker 3 (52:21):
You know where Wall Street rhetorical question we get to
answer what did Wall Street creep? What did Wall Street start?
In Montgomery, Alabama? Leaman Brothers was born in Montgomery, Alabama.
Don't trust me, look it up yourself. Why Because that's
where the slaves were, and that's where the slave trade,
that's where the mixed up. Alabama and Mississippi had more

(52:42):
millionaires in the eighteen fifties than.

Speaker 2 (52:44):
Anywhere in America.

Speaker 3 (52:46):
The richest city in the world in eighteen forty was
not just Mississippi, in the world. When the rules of
publish and plainfuwers level once again, we kill it. Professional sports,
the arts, politics, from slavery to President of United States

(53:08):
of America. Faith I just talked to Bish from TDJX yesterday.
The biggest I mean, he's basically the black Pope. I mean,
build a global empire from West Virginia, which is where
he was born. Trying to give another group another thing
that we've killed the game on. But I mean that's
for example, everywhere, but not capitalism, not free enterprise.

Speaker 2 (53:32):
And what's my point.

Speaker 3 (53:34):
This country's built on capitalism and free enterprise. The whole
world is built on capitalism and free enterprise. So for
us to argue and spend value time debating about whether
we like capitalism or not is rearranging the deck chairs
and the damn Titanic.

Speaker 2 (53:53):
The ship is sinking and we're picking drapes. And I
don't know.

Speaker 3 (53:56):
About you, but I'm like Malcolm X right now, we've
been bamboozled, We've been tricked, we've been fooled, we've been
hood wing.

Speaker 2 (54:02):
We're better run them up. And I'm sick and tired
of being sick and tired. What I say to people
is nothing else has worked. We tried the government.

Speaker 3 (54:15):
They just told you you on your own. Have I
missed something? I'm talking to everybody here. Have I missed something?

Speaker 2 (54:23):
It's not a good feeling.

Speaker 3 (54:24):
Is it for somebody else to be in control of
your destiny? Every other group disengaged from the government and
win in a free enterprise and capitalism. We hung on
too long, We had too much faith. I'm not criticizing.
We did the best we could with what we had,

(54:45):
but this is probably fifty years too late. They and
this president has done something that hasn't ever been done
since nineteen sixty. He unified black people. Well, we all
have won accord. Now we're like, what we gonna do.
That's what you said. What we're going to do, and
what I think we do is this God is on

(55:13):
the throne. Why do I believe that? In nineteen fifty two,
America was ninety percent white, So that means what doctor
King everybody.

Speaker 2 (55:23):
Did was nothing less than genius. That was just moral authority.

Speaker 3 (55:26):
Eight percent of black people flipped the whole country seventy
employees doctor King had. Today Americas, African Americans are forty percent,
sorry after Americans, and Latin minorities are forty percent of
this country.

Speaker 2 (55:38):
Within ten years will be a majority of minorities.

Speaker 3 (55:42):
The economy today is twenty percent immigrant. The GDP of
America's thirty trillion dollars. Twenty percent of the GDP of
America are immigrants, the same people being demonized. I'll give
you a strong one. It's in the book. In nineteen

(56:02):
seventy two, a white, blue eyed, a white blue eyed,
blond haired woman wealthy could not get a bank loan
in America, I'm sorry, could not get a bank account
in America.

Speaker 2 (56:16):
No woman could. It was against the law deeds, huh,
or a credit card.

Speaker 3 (56:20):
Couldn't get a law credit? You mean, you know your
stuff couldn't get a credit card unless her husband co
signed it. Why do I say that, Let's go back
to now, and said about the second reconstruction, Black America
pushed his country to live up to its potential, to
its constitution.

Speaker 2 (56:34):
It's Bill of rights that happened.

Speaker 3 (56:35):
Here in Atlanta civil rights movement, the four Civil Rights Bills.
So here comes Kennedy, who really didn't care all that
much about civil rights, but he was pushed to care.
Here comes Johnson, who was not a very nice person,
but passed all these civil rights bills.

Speaker 2 (56:50):
And here comes the honorary President King. Some people thought
they went too far.

Speaker 3 (56:57):
They killed them physically Kennedy, Kennedy, Malcolm X Martin, the
whole list of other players just taking off the scene
politically killed by going from Kennedy and Johnson to Nixon.

Speaker 1 (57:15):
Total opposite.

Speaker 3 (57:16):
By the way it happens every reconstruction. First reconstruction, Lincoln
gets assassinated. The reaction was President Johnson, who was his
vice president, who was the Southern segregationist. That's why, that's
why he pulled off federal troops out of the South,
stopped reconstruction.

Speaker 1 (57:31):
So told him that if Lord of for you to
win is what you gotta do first.

Speaker 2 (57:36):
So what So look at what's happening now. Don't name names.

Speaker 3 (57:41):
You gone from Obama to something else. Reaction here, overreaction here,
George Floyd's murder two thousand.

Speaker 2 (57:49):
You're living through history.

Speaker 3 (57:51):
If you were black in two thy and twenty one
and walking down the street, somebody would have given you
a check. There was a there was a year period.
We're black, We're money was just flawing. Am I talking
to myself? Money was just plawing to anybody black if you.

Speaker 2 (58:07):
Were in twenty twenty one. By twenty twenty three, who
anti woke? And what reaction?

Speaker 3 (58:14):
Some people thought gone too far by the way. I
think we took it too far. I think we poup
the bear. I think we antagonized. We were not smooth
about how we did things. We stepped in mess not over.
It's a different conversation about strategy. But we created a
reaction that we're experiencing.

Speaker 2 (58:38):
Right now.

Speaker 3 (58:39):
So you're sitting in a moment in history right now.
But history does not feel historic when you're sitting and
it just feels like another day.

Speaker 2 (58:46):
It's the third reconstruction.

Speaker 3 (58:48):
So the battle is no longer here, it's here, So
now why am I saying the answer to your question
is capitalism. Let's go back to that woman's story. Because
of black people in affirmative action, we didn't get the
affirmtive action. Nixon gave it to white women. I say,
God bless them. I'm glad somebody got it because of
white women. Black women got it, Latino women got it,

(59:10):
Asian women got it. Today, women are a third of
the US economy. Women are eight to ten tradeon of
thirty trillion dollars a year. That would have happened if
they didn't get the rights that we teed up in
the seventies. So bring that story to present. City Group
put this in the report here that discrimination against blacks

(59:30):
alone between two thousand and twenty, between two thousand and
twenty twenty cost the US economy sixteen trillion dollars. Not
these Asians, not Latinos, not slavery, not civil rights movement,
twenty years between two thousand and twenty twenty and twenty twenty.

(59:51):
City Group, not NACP, not LOROUSA, not some liberal group.
City Roup calculated cost economy six teen trillion dollars, and
they just knock it all. We'll get a trillion.

Speaker 2 (01:00:04):
Dollars a year.

Speaker 3 (01:00:05):
And I've already told you about the power of Atlanta,
But that's really the power of diversity. The most wealthy
companies in America are the most diverse, the most profitable.
The most diverse cities in America are the most profitable.
Not even center the GDP, the economic activity for this
country are in cities. I mean, what I love about

(01:00:29):
this is it's just math. This country can't survive without
black people. That's really what I'm telling you.

Speaker 2 (01:00:37):
That's what it all boils down. It can't see this
is all God, this country cannot. I want every.

Speaker 3 (01:00:44):
White, college educated, successful white man to be hugely successful
because my success is tied to his in a free economy.

Speaker 2 (01:00:53):
There's not enough of them. There's not enough college educated
white man to drive GDP Gross.

Speaker 3 (01:00:59):
Domestic Product, the income of the country for the next
twenty years. If we don't include other people in this
within twenty years, we'll always speaking Mandarin.

Speaker 2 (01:01:06):
You know what Mandarin is? Yeah, I need Chinese.

Speaker 3 (01:01:11):
Now, I'm gonna give you a drop the mic that's
going spin your head. Now, let's say you let's stay
up until now. You like this all sound good, But John,
don't have me yet Okay, check this out. In the
next ten years, there's gonna be a wealth transfer of
eighty eight to one hundred trillion dollars.

Speaker 2 (01:01:35):
Every day.

Speaker 3 (01:01:38):
Ten thousand baby boomers read white, wealthy, sixty five years
of age, looking to go play golf, retire, and leave
the economy.

Speaker 2 (01:01:47):
Every day. I'm gonna say this one more time.

Speaker 3 (01:01:50):
Not every month, not every week, every day, every day,
ten thousand baby boomers eve the US economy. There's more
people over sixty five than underage eighteen. It's never happened before.
By twenty thirty four, they'll all be gone. The money's

(01:02:12):
getting transferred, by the way that eighty eight to one
hundred trillion to wives, husbands, children's nieces, nephews, at stocks, bonds, homes, cash, whatever.
If I missed something. Businesses now nobody wants the businesses.
It's too much damn work. Please hear me, Black people,

(01:02:34):
brown people, please hear me.

Speaker 2 (01:02:36):
There's nothing wrong with these businesses. These are seven figure
Dennis office, seven figure lumber office.

Speaker 1 (01:02:45):
Help me out here with some we can laund we
can bind gas.

Speaker 2 (01:02:50):
Station, car washes, nail salons. Help me out here.

Speaker 3 (01:02:55):
Think about what in your neighborhood. Think about it, medical office.
These are all businesses.

Speaker 2 (01:03:01):
People. You know, no one's no one's cut your hair
for free. They like you.

Speaker 3 (01:03:06):
Your buddy likes you, but he wants to be paid.

Speaker 2 (01:03:10):
That's a capitalist, I said earlier. People, I'm not a capitalist.
You're not going to work for free. If you're going
to work.

Speaker 3 (01:03:18):
And somebody giving you a paycheck, you're using your human
capital and you're exchanging it for a financial capital.

Speaker 2 (01:03:26):
You already engaging in help me out here. If you're
paying a card note, you're engaging in capital. You're paying rent.

Speaker 1 (01:03:33):
Are you buying the house capital?

Speaker 2 (01:03:35):
We knocking off? If we live with somebody, that's socialism.
Especially if you're with somebody. Got to make two sounds
and you not on the You don't get no.

Speaker 6 (01:03:50):
Did you lie to say you're gonna give me some money?
So that's plenty for reason. Thank you for getting me
on my off my store box. If we just buy,
I said, fifteen trillion. Businesses which are have real estate,
have client lists, have brand names in they see, let's stop,
let's knock it off. Of going to New York in LA,
the money's already made, go to Columbus, Georgia. Go to

(01:04:14):
these second tier cities where there's no competition for bringing
people like you and go buy The tennis office has
got three locations on there are four barbershops and four you.

Speaker 3 (01:04:24):
Know it, hair ain't going out of style. Go find it,
Go buy the three hair business. The three here we businesses.
The guys trying to retire, get half of the half
of the purchase prices bank finance. Because it's a cash
flow from the business. They'll do sell it for nancing,
probably forty percent of that and you raised ten percent
of it.

Speaker 2 (01:04:44):
And it's called go fund of me friends around.

Speaker 3 (01:04:46):
But if you buy a million dollar business with cash
flow in real estate, it's easy to find investors.

Speaker 1 (01:04:51):
Business dot com, the good wells.

Speaker 3 (01:04:53):
No, well, dude, I'll go to go find a business broker,
a business broker in the town that you want to
buy a business, and they'll tell you and they'll help
you analyze it.

Speaker 2 (01:05:01):
But my point that one did we just buy a
trillion dollars of.

Speaker 3 (01:05:03):
That man, I said, fifteen tree just by a less
than ten percent over the next ten years.

Speaker 2 (01:05:08):
Our network of black.

Speaker 3 (01:05:09):
People, it's scheduled to be zero by twenty fifty three.
If we do nothing, yes, if we do nothing, but
chill what we're doing right now. Our network is scheduled
to be as a race of people nothing Z twenty
fifty three zero. We own this and it's getting worse.
We have the lowest credit score in America. I'm just

(01:05:32):
talking to real talk. We have a forty four percent
home ownership rate. Most of our businesses don't have an employee.
We don't own stocks, we don't own bonds. We talk
down capitalists, yes, sir.

Speaker 4 (01:05:43):
So from from this point, from knowing all those facts,
how do we get Say, for example, we've got a
community said, all.

Speaker 1 (01:05:50):
Right, Jake, I hate you. We fucked up back then,
and we want to learn after story. We want to
learn our shit. We learn in this condition, how do
we grow in the next ten years?

Speaker 2 (01:06:01):
In the book A Business Player for Black America.

Speaker 1 (01:06:03):
Goddamn we got book, I wrote waiting.

Speaker 3 (01:06:10):
For somebody to talk shit to me about John. You
know you keep talking about the sith. Where's the solution?

Speaker 2 (01:06:16):
I wrote the damn solution. I wrote it.

Speaker 3 (01:06:18):
I wrote it for black people. I wrote one for women,
and I wrote for white people. I wrote on for
real people, rolling for Asians, I got every group. I
wrote Native American Indians, Africans.

Speaker 5 (01:06:28):
Now he's before you go, I want to ask you this.
Who financed the civil rights movie?

Speaker 2 (01:06:33):
Uh? It was it's a great that's a great question.

Speaker 3 (01:06:36):
The civil Okay, the Civilizs move was financed in part
by Jews, black black businesses, uh like H. J. Russell
and others. But people don't know that the Jewish residents
have actually helped with the civil rights. With s c
l I'm sorry. The s c l C was actually
not a legal nonprofit. It was actually run out of

(01:06:56):
a legal office in New York. Who was it was
a was a lawyer there who quietly funded doctor King's movement.

Speaker 1 (01:07:03):
Uh. And that's that's got allies now, I don't get
it wrong.

Speaker 3 (01:07:06):
We got allied, many of which were treating pretty badly.
But there's whole other story. Folks love you seeing us
argue with each other. And I mean, if look don't
get me, don't get me this. Let me say, say,
focus on the question that you put in front of me.

Speaker 2 (01:07:19):
What do we do?

Speaker 1 (01:07:20):
How do we get up?

Speaker 3 (01:07:21):
Okay, let me try and make this real. I'm gonna
take this and make this real. Play please hear me.
Get our credit card up seventy points from six twenty
seven hundred to seven hundred third, So.

Speaker 2 (01:07:33):
I guess I do it.

Speaker 1 (01:07:34):
I don't back account.

Speaker 2 (01:07:36):
That don't.

Speaker 3 (01:07:37):
So you come to Operation Hope if somebody would toe
up credit card credit doesn't check the credit that's what
I know. You come to Operation Hope, which our services
are free because I raised one hundred million dollars a
year so that you don't have to pay.

Speaker 2 (01:07:47):
For our service.

Speaker 3 (01:07:48):
Have officd in forty two states, at forty employees. You come,
we say what's what's that on your credit for? You said,
I don't know. Great, that's called an error. So we say,
this is financial literacy, which I think is the civil
rights issues this generation. We're gonna write you and me.
We're gonna write a letter of the credit bureaus. People
think that the TransUnion, Equifax, and Experience, the credit bureaus

(01:08:08):
are the devil. No, they're repositories their data. They're passive
data repositories, which is a nast fancy way of saying,
is lazy money that sits there with a database and
they get paid by people accessing the database. It's really
a brilliant business. It's like it's like it's like a
storage unit for data. Now they're not they're not responsible

(01:08:34):
for what's in the storage union.

Speaker 2 (01:08:36):
They just holding it.

Speaker 3 (01:08:38):
You're responsible for making sure that your shit, excuse me,
your stuff in the storage union is properly accounted for it.
But what's what poor people don't do? They don't check.
So the first thing we do is we write a
letter and we say this is not his. The law
states if they cannot confirm that's yours within thirty days,

(01:08:59):
they must remember it.

Speaker 1 (01:09:00):
Though, and now I need to write a little that
ain't my sprint. I don't know who had that.

Speaker 3 (01:09:08):
Well that' stood for thirty or forty. Operation operation does that.
So now now you now let's say you were at
six twenty. So now you got pop thirty points, you're
at six fifty. What happens to your self esteeming good points?

Speaker 2 (01:09:25):
Point? You're like, I'm in the game. So then we say, okay,
what's that other thing? Oh, you know, I got it.

Speaker 3 (01:09:35):
I got a divorce and it was ten years ago
and they've got ran the thrombill up and I don't
have a thousand dollars letter.

Speaker 2 (01:09:41):
No, no, you got to call them. And then that's
for a settlement.

Speaker 3 (01:09:44):
Hold on, you're both fighting, but hold on slow and
slow it down. So we say, look, slow down. That
was packed bell, pack bell.

Speaker 2 (01:09:54):
So the SBC, SBC, SO, the.

Speaker 3 (01:09:57):
A, T and T so, oh yeah, sh all of
them and chasing you and calling you answered no, damn
one eight hundred number and ten years they sold it.
They got tired of chasing you. They sold it Joe's
Finance Company. How do I know it's in the notes?
Let's call Joe's Finance company. Your your your, and my
sister says, I don't have. I told you don't have

(01:10:18):
a thousand dollars. We said, look, shut up, I didn't
ask you for a thousand dollars.

Speaker 2 (01:10:23):
Shut up and listen.

Speaker 3 (01:10:24):
Let's call because I know that they didn't spend one
thousand dollars for it. They've been chasing you for ten years.
It's called bad debt. It spent five cents on the dollar.
They bought it for fifty bucks. Joe, Joe wants a hundred,
wants the double's money. Let's call, and Joe says, I
got joe An here with me. We're looking for Joe An.

Speaker 2 (01:10:44):
She's looking for you. We want to pay you off.

Speaker 3 (01:10:46):
We want one hundred dollars. First of all, lorder broth.
How about we give you two hundred dollars. Huh, First
of all, changing the whole psychology all the time. Why
would you amy double? Because if I pay you double
and I want your name of your supervisor, I want
to talk to them and tell them what's a good
job you did, even though you'd raise your voice of me,

(01:11:08):
but tell what a good job you did.

Speaker 2 (01:11:10):
And I want his or her phone number so I
can reach them later.

Speaker 3 (01:11:13):
And I want in writing it to show them when
you did a good job. And I'm gonna give you double.
The prophet that if and when this shows back up
on her credit report, you're gonna remove it until it.

Speaker 2 (01:11:24):
Stops showing up. Can I get that agreement? Yes?

Speaker 3 (01:11:26):
Great, she got an eighty percent discount, you got a
two hundred percent profit.

Speaker 1 (01:11:31):
Go back to what we said early in the beginning negotiation.

Speaker 2 (01:11:34):
Change is no robbery.

Speaker 3 (01:11:36):
Everybody leads slightly annoyed. Everybody want now you get you
solve a charge off that's forty points.

Speaker 2 (01:11:44):
So where are you at now? Ninety? Now you write it,
you're writing me a promise.

Speaker 3 (01:11:49):
Now we look at you, we look at your budget, said,
why don't don't make a lot of money. I may
asked you that you've been thirty eight, you make thirty
eight thousand dollars a year, you got three children?

Speaker 2 (01:11:57):
Okay, you ever heard of ei TC? What's that?

Speaker 3 (01:12:00):
Congratulations? Earn income tax credit? If you make thirty eight
thousand dollars a year, you got three kids. The governor
ow you a check for seventy five hundred dollars as
a it's a reward for it's a bonus for working.

Speaker 2 (01:12:12):
And if you never filed, it's retroactive for three years,
which you mean you get back. You can go back
three years to file it.

Speaker 1 (01:12:19):
Good gun you get.

Speaker 3 (01:12:20):
So whatever you are qualify for, you get three years
of it if you never filed. And one of the
four Americans who qualify for EIT scene never asked for it.
Read black people, it's about twenty billion dollars a year.

Speaker 2 (01:12:33):
We leave on the table, yep.

Speaker 3 (01:12:35):
So we help you file for that. We then say
tell me what you do every week? Well, I go
to Starbucks twice a week. No, no, no, We're gonna
get you a current machine, because that's three thousand dollars
a year exactly. I'm smoking cigarettes. Well, that's another three
thousand dollars a year. That's six thousand dollars. That's shit.

Speaker 2 (01:12:52):
That's sorry, excuse me a cursive, that's almos. Now you
got mad on that onek.

Speaker 3 (01:12:56):
That's fifteen percent percent of your income. Yeah, the boss
says it. It's gonna kill you.

Speaker 2 (01:13:01):
The boss says that, I'm just sick and tired of
being sick and tired. I'm sorry.

Speaker 3 (01:13:06):
And so we if we just stopped that, I'm just
gonna say, it's a French work. We just stopped the
stupid shit and just get right. We just need to
do the basic shit. But we're just not doing the
basic shit. So you get your credit score to seven hundred.
That's seven hundred and fifty billion dollars of net worth
in ten years. I'm answering your question. We can do

(01:13:27):
that ourselves. Now you take the seventh fifty credit score.
So you take the seven hundred credit score.

Speaker 2 (01:13:33):
You can go to the bank. The bank don't make money.
Let's and make a loan.

Speaker 3 (01:13:37):
If you Oh, the bank won making me a loan.
Not if you're a fire and a credit score. I'm
not making you a loan at five hundred. It's a
bad credits. So you go there and now you make
a get a loan and become a homeowner. That's worth
eight hundred billion dollars to go from forty four percent
ownership to sixty two percent home ownership for black people.
Seventy five percent is when white people have of home ownership.

(01:13:57):
And the whole tax policy is around home ownership. You
write off every mortgage, every mortgage payment, you get it
back in the tax refund. You write off your reached
the appreciations free. We was just talking about it, totally free.

Speaker 1 (01:14:10):
Theyld somebody got a seven hundred and fifty credit score,
but the income only like forty thousand a year. What
type of loan are they evening?

Speaker 3 (01:14:17):
So first of all, if you go and buying Columbus, Georgia,
go buying a modest city for one hundred thousand dollars house,
you can you can qualify with the forty thousand income
to buy are many mansion when you when you're supposed
to work, I mean, it's ridiculous.

Speaker 1 (01:14:29):
In the wrong area.

Speaker 2 (01:14:30):
You're in the wrong area. Go where the puckets going?
Go where it.

Speaker 3 (01:14:33):
When I moved to Atlanta in two thousand and nine,
they were not smartphones. I had I had a smartphone,
and I was texting. Most people were not texting in
two thousand and nine. They were not sidewalks. The palm
uh they keep black BlackBerry.

Speaker 2 (01:14:50):
I had apple, but I got I went.

Speaker 3 (01:14:53):
To the state and I and I registered a license
plate that said entrepreneur. Now, this may not make to
people immediately. I should not have been able to get
a license plate in the state of Georgia that says
entrepreneur because that plate was gone thirty years ago in
New York and forty years ago in New York's in California,

(01:15:14):
very entrepreneurial places. If entrepreneurship was on fire in Atlanta,
that plate should have been gone the minute I was
able to get that plate, I knew.

Speaker 1 (01:15:23):
Ain't nobody had.

Speaker 2 (01:15:24):
I'm in the Promised Land. I'm going to run it up.

Speaker 1 (01:15:26):
I'm gonna run it up.

Speaker 3 (01:15:28):
I got a plan nobody else has. I'm gonna And
I went and bought seven hundred homes. Between two thousand
and sixteen and twenty twenty one, I bought seven hundred
homes worth one hundred and sixty million dollars. I bought
them for eighty eight thousand dollars each. I hold him
for three to fifty thousand dollars your theory.

Speaker 5 (01:15:44):
I don't think they was here when you said you
go to by the ugliest house in a nice neighborhood.

Speaker 2 (01:15:49):
By the worst house and the best block hood adjacent.

Speaker 3 (01:15:52):
Hood, adjacent, buy it, rehabit and rented by rehabit and
lived in it way for three or four years. Pull
out modest equity, buy another house with a homemaker, really
line of credit, do not sell the house and not
growing anymore land.

Speaker 2 (01:16:05):
Everybody I know who sold the house regrets it.

Speaker 3 (01:16:11):
Everybody I know who sold that house ten years later
like date because they look at the value now and
it goes nothing but up. Let's come back to I'm
gonna finish answering your question.

Speaker 2 (01:16:25):
So I mentioned.

Speaker 3 (01:16:26):
So now we are at seven hundred seve hundred billion
for a credit score, eight hundred billion, eight fifty billion
for home ownership. So now at one point six trillion,
and if we buy one trillion of the businesses, that's
two point six trillion.

Speaker 2 (01:16:41):
And AI, you'll be.

Speaker 3 (01:16:43):
Able to start a million dollar business for fifty bucks
with artificial telligence. That's another trillion in ten years at
three point six trillion. And I didn't mention the government
one single time Why are we spending half of our
time screaming at the TV set about the federal damn
government when it's the largest reality TV show in the
history of mankind and every day is a new episode

(01:17:06):
and they're trying to keep you distracted from the facts.

Speaker 2 (01:17:10):
Every day. Clean you credit school, do what you can control.

Speaker 3 (01:17:13):
Take care of your kids, Volunteer in your local school,
take care of your credit score.

Speaker 2 (01:17:19):
Do something.

Speaker 3 (01:17:20):
I mean, damn, I'm just That's why I said earlier.
I'm just so tired of going to my comments section
of Instagram. That's where I comment mostly, you know, I
get every week, got like three four million views. I've
had a billion views in the last two years, and
I'm honored by that. But I get tired when I
go to my comment section and some raggedy ain't done

(01:17:40):
nothing person wants to argue with me about success. Shut
your ass off, shut up, shut up, and listen. No,
I'm gonna see it.

Speaker 1 (01:17:50):
Shut your bitch ass up, man, Shut the fuck up. Man.

Speaker 4 (01:17:53):
You don't know what you're coming the man about business,
God damn credit store.

Speaker 3 (01:17:57):
Right when I go, when I when I'm around the
bast young and I'm gonna talk about civil rights range
of issues. I shut up and listen. Man, he'll talk
for an hour. I'm just ear hustling. It's an icon.

Speaker 1 (01:18:09):
He's done it.

Speaker 2 (01:18:09):
I haven't. He's got his scars, he's got his stripes.
I'm hustling. I'm listening.

Speaker 3 (01:18:14):
When Tony Westy My being their friends talking, I'm listening.
That's the first person who told me you make money
during the day, you build was in your sleep. That's it.
That's one for you make money during the day. You
only build wealth in your sleep.

Speaker 2 (01:18:31):
When bishr TDJ talks about faith, I shut up and listen.

Speaker 3 (01:18:35):
When t I was telling me about how to produce
an album or whatever, I'm shutting up and listening.

Speaker 2 (01:18:40):
That's what they do.

Speaker 1 (01:18:41):
And I can go all and on and on.

Speaker 3 (01:18:43):
But when I'm talking to you about financial literacy and
free enterprise and capitalism and business, shut the funch up
and listen. Where are you arguing with me? You ain't
done shit. If you had a one hundred million dollars
credit line I have. Have you got a tuny million
dollars on the deal that the deal you did, I
haven't you directed five billion dollars with a capital I have?

(01:19:07):
So if you have not done a nine figure transaction,
or you don't have two figures two fingers in your pocket?

Speaker 2 (01:19:14):
Shut up? Tell me about that?

Speaker 1 (01:19:16):
How you how you do that?

Speaker 2 (01:19:18):
Would you have which when you show up to get
just well? Start off small with the honey million.

Speaker 3 (01:19:22):
Now long I talk on the way here. By the way,
I I did something stupid. I don't want to talk
about it right now. That I made one stupid mistake.
I can't talk about it at the moment. I will
be talking about it soon. But I made a mistake.
I signed something I shouldn't have sign, which make shures you.
Everybody makes some mistakes. I signed a personal guarantee to
something because I trusted somebody. That's now gonna gonna cost
me one point six million dollars. But the blessing is

(01:19:45):
that I can afford to do that without blinking.

Speaker 2 (01:19:48):
I will pay it. I made the mistake. I can't
blame the white man or the system.

Speaker 3 (01:19:55):
No, no, no no.

Speaker 2 (01:19:56):
My dumb ass signed it. Got to hit of it.

Speaker 3 (01:19:59):
I got ahead myself. I should have sent it to
my attorney. I sent everything else to my attorney. But
on this particular case, I got relaxed, and I was
feeling all warm about the whole situation.

Speaker 2 (01:20:15):
But it's a lesson.

Speaker 3 (01:20:16):
Well, in this situation, it just takes a great transaction
and turns it into a very good transaction.

Speaker 2 (01:20:23):
But it's a lesson that education.

Speaker 3 (01:20:26):
At one point six million, which I can afford to pay,
I will never make that mistake ever again.

Speaker 1 (01:20:31):
So would you learn from it? Though?

Speaker 2 (01:20:34):
I know, I mean, I understand it. Slow down the money,
slow down.

Speaker 3 (01:20:38):
Business is never personal, So slow down if you If
you put a solution on a problem before the problem
is ready to have a solution, you just create a
bigger problem. Let the game come to you. Listen, now,
I didn't do what I just told the audience. I said,

(01:20:58):
shut up and listen. I didn't do that. I was
running my mouth and talking and these people were manipulating
my good feeling about this whole situation, and I agreed
to some shit that I shouldn't have. What I should
have done is sent that and I was doing a
little cheap. Probably I should have sent that to my attorney,

(01:21:21):
but I'm like, I don't need to send this to
my attorney. That is the that is the one time
you make a mistake. People who hurt you are people
who are close to you. They know you, you know them,
They're not strangers.

Speaker 1 (01:21:34):
Basically, just got a consultancy.

Speaker 2 (01:21:37):
So so this was this was a slow moving train wreck.
I saw it coming. The signals were all there.

Speaker 3 (01:21:46):
All I had to do was send it to my
attorney and he said, John, you can't sign this this way.

Speaker 2 (01:21:51):
Let me restructure it for you. That had been the table.

Speaker 3 (01:21:55):
Everybody's leaves slightly annoy annoyed. They would have worked it out,
but my dumb ass.

Speaker 2 (01:22:02):
Was like, no, I trust you. It's all good.

Speaker 1 (01:22:05):
The business ain't personal.

Speaker 2 (01:22:08):
Nobody infens business. Now, DC, this is what I was
gonna ask you.

Speaker 5 (01:22:12):
You wanna go sign up at the whole academy because
I talked to him, and I told him when I
got off to him, I told you I was about
to go on to it. When got off to I
already talked to his people that I wanted to go
through the through the whole academy.

Speaker 2 (01:22:24):
This whole process. Yeah. Okay, by the way, those the
same situation I just mentioned you.

Speaker 3 (01:22:30):
They owe me eight million dollars, so ultimately, net net,
even in that situation, I'll be fine, but but I'm success.

Speaker 1 (01:22:39):
All money is his freedom, financial freedom.

Speaker 2 (01:22:43):
I paid I paid a I paid a.

Speaker 3 (01:22:48):
Seven figure tax bill before I paid a I paid
a Houston tax bill to the State of Georgia, and
I think it was like nine thousand dollars before. And
now I'll have to pay at some point, I'll have
to pay this, this, this grad schoolage education.

Speaker 2 (01:23:06):
Right.

Speaker 3 (01:23:07):
But you know, the beautiful thing is, I'm at a
point in my life where none of it bothers me.
That's what you want that you just whatever it is.
When you have the power, you don't need to use it.
You just keep it moving, step over mess and not
in it, and you let that be a lesson and
you rise to the next occasion and you never have

(01:23:27):
to repeat that lesson ever again. And when you when
you are the right spirit and God's behind you. God
has blessed me so much I can't be complied. I
can't be upset about that. I mean the God to
come from nothing in one point six don't bother me
as a write off. Come on, I love ant taxes
that mean I made money money don't In other words,

(01:23:49):
we got it twisted. Don't avoid the tax man.

Speaker 2 (01:23:51):
He's coming for you.

Speaker 3 (01:23:53):
I'd rather owe my mama than the irs. They are
coming for you and then compounding. There's nothing more gangster
than the eye irs and that compounding interest of thirty
or forty percent. No, no, no, no, no, just just
that's your consider the irs your partner again to them again,
just give them the cutting. That's your partner in business.
And they're funding the schools. If you want to feel

(01:24:14):
better about it, they funding the police. They funding ambulance
service and hospitals. And if you want to feel good
about it, think about what the government is.

Speaker 1 (01:24:21):
Doing to pay privaty tests.

Speaker 4 (01:24:23):
You're funding the police, said, when you pay property tests,
you funding the police.

Speaker 2 (01:24:27):
Yea.

Speaker 3 (01:24:27):
All these taxes are funding the infrastructure. So it's a partnership.
And as long as they're doing their part. By the way,
when I when I did pay that huge tax bill,
I wrote like thirty letters to get those potholes fixed
from the air, from the from you got to write, oh,
and they did it, by the way, from the freeway
to my house. You don't fix every pothole If I'm
paying this money now.

Speaker 1 (01:24:48):
It's personal pu the siment right here home on rocks.

Speaker 3 (01:24:52):
Nobody washes rental cars. Ownership matters. Nobody washed rental cars.
You'd be the nicest person the planet. You rent a car,
you drive it for two weeks. Come on, you don't
run the car wash. You don't even feel the back up.
You drive it to drop it to the.

Speaker 2 (01:25:14):
You drive down the street, you tell which which houses
are rentals?

Speaker 5 (01:25:20):
Grass up to your eyeball, nail boss, cricket fence, don't close.

Speaker 2 (01:25:25):
I remember the first house we own one.

Speaker 3 (01:25:28):
One five five O two South Freeley Avenue in Compton, California.
I think it was nine O two two one, and
I even know that my mother owned it, But it
was the first house we bought. Think about this. You
can remember the address the house you own. You don't
remember the rental address.

Speaker 2 (01:25:42):
It's not yours.

Speaker 3 (01:25:43):
We have got to become owners of our mindset, of
our self esteem. We've got first of all, we got
to heal. So we got to stop the bad eye
in geez, drugging, drinking deal, you know a text thing texting, shopping.

Speaker 2 (01:26:03):
Not dealing.

Speaker 3 (01:26:03):
There's probably a bunch of other I gees, everything in
balance is cool.

Speaker 1 (01:26:07):
Keep sucking on the tee.

Speaker 2 (01:26:10):
I'm with you.

Speaker 3 (01:26:17):
I go all things in balance, alcohol and balance with Lord,
your blood pressure, drugs and balance are prescribed. I mean
everything in balance, sleeping balance gives you rejuvenation for life.

Speaker 2 (01:26:38):
In balance, we but the I g we need is healing.

Speaker 3 (01:26:43):
Because it literally, an addiction is a response for the
motion you can't handle. An addiction is a response to
an emotion.

Speaker 2 (01:26:51):
You can't handle.

Speaker 3 (01:26:52):
So you're bearing yourself in some ship to avoid the
reality of the real ship.

Speaker 2 (01:26:59):
And that's how they get us, because that's when you
go back to the hood.

Speaker 3 (01:27:02):
You see a check cash and and the rent store,
the paint, the lenders in the all the short term
is liquor store, the restaurants.

Speaker 2 (01:27:10):
It's done with mean.

Speaker 3 (01:27:11):
It's instant gratification to put you to sleep.

Speaker 2 (01:27:15):
Now, this is what we were gonna ask you. We
me in DC. We were talking about this like you
s y'alln't got me worked up. I don't you have
no coffee.

Speaker 1 (01:27:21):
This is what.

Speaker 5 (01:27:23):
You don't need that Remember we was outside talking just
now and we talk about it often. You talk about
the next generation of black professionals, business owners, homeowners.

Speaker 2 (01:27:32):
And stuff like that.

Speaker 5 (01:27:33):
Like we know a lot of our peers who in
the space where they have taken the first three steps,
they got the step of one hundred credit score and
when they got the house and on now they got
the property. They don't know the next step. What's the
next step for those people who who, like I said,
who are on step three of five or three of ten.
So this is not a criticism, is a critique. Okay,

(01:27:54):
we confuse busyness with business. You cannot own a business
not understand the balance sheet. You cannot own property and
not own and not understand what the depreciation schedule is.
We don't want to deal with the with the details,
and we don't want to. Oh, that's some boring.

Speaker 3 (01:28:13):
The reason that the recording artists and movie stars and
actors who are right brain creative geniuses go broke is
they said, nah, I don't want to deal with that shit. No,
it's the music business, dope, the business of music, it's
the entertainment business. It's the business of entertainment. You cannot
get well into one and not understand the other. Somebody's
gonna rob you in broad daylight because business turn person hunt.

(01:28:37):
They're gonna separate you from your wallet because you're not
paying attention as.

Speaker 2 (01:28:41):
I don't want to.

Speaker 3 (01:28:43):
There's a certain person in boxing right now, Yeah, we
know who is in deep trouble and thinking it like
he's not And look I don't care how much money
you make.

Speaker 2 (01:28:54):
You can you can spend it.

Speaker 3 (01:28:57):
If your outflows he's your inflow, then your overhead will
be your on the fault.

Speaker 2 (01:29:00):
And if you gonna wear one.

Speaker 3 (01:29:01):
Set of set of sneakers a day and throw them away,
you are full. If you're gonna get a private jet
for you and another private jet for your friends, another
private jet for your girlfriend, you are full.

Speaker 2 (01:29:13):
In fact, you shouldn't be paying for a private jet.

Speaker 3 (01:29:17):
The private jet should be paid for it by a
corporation with a cancelor tied to it. And that's an
limited liability corporation and tied to a deal you have
with whoever I heart, whoever it is.

Speaker 2 (01:29:26):
And you flying on a jet for free. That's how
you fly on a jet. You don't got to own it.

Speaker 3 (01:29:31):
You shouldn't be. You should not be coming out of
your cash flow. It should be it should not be
coming out of your ten ninety nine income. Knock it off,
stop all this blossom.

Speaker 1 (01:29:42):
How you get the jet on the expense?

Speaker 2 (01:29:43):
Again? My man is you got to know the people.

Speaker 5 (01:29:47):
You have to have, you a ridge friend, and then
you buy in like ten percent, and then you advertise
it for the free because you're the superstar and.

Speaker 2 (01:29:53):
Then they just you know, you split the calls and
you don't really own it. So that's one of the answers.

Speaker 3 (01:29:59):
If you yachts a billionaire in the yacht it's it's
a limited liability corporation, right, it's tied. It's probably structured
as a remote office for their for a product company.

Speaker 2 (01:30:15):
They're writing it off as a business expense. You take
clients now two times a year, you're good, and when
they're not there, they're chartering it. That means you let
somebody use it. Why you ain't using it? Who pay you?

Speaker 1 (01:30:28):
So?

Speaker 2 (01:30:28):
Now?

Speaker 3 (01:30:29):
Because we have a place in turch and Kkos, it's
a line limited liability corporation.

Speaker 2 (01:30:34):
I bought it.

Speaker 3 (01:30:37):
Two million, it's not worth four million. The monthly mortgage
is covered by the rental income when I'm when we're
not there, we made agreement with I don't mention that.
I don't want to say so much. People know where
I live, but we may agree with the company that
when we're not there. You read it out and they
said you can't come. We prefer you don't come on Christmas.

Speaker 1 (01:31:00):
They'd be the biggest time.

Speaker 2 (01:31:01):
Don't come on New Year's.

Speaker 1 (01:31:02):
Come in June.

Speaker 2 (01:31:04):
We're gonna make you some money. Yeah.

Speaker 3 (01:31:06):
By the way, again, no FLOSSI don't come in fourth
of July. Don't come on Thanksgiving, it's business.

Speaker 2 (01:31:17):
Don't come on Christmas.

Speaker 1 (01:31:18):
We love you, John.

Speaker 2 (01:31:19):
Don't come on New Year's because that's when we make
the most money.

Speaker 1 (01:31:23):
We're making it for you.

Speaker 2 (01:31:26):
Please don't come now. We can't force you to not
to come. It is your ship. It's your ship. But
please don't come.

Speaker 1 (01:31:31):
Right So it's like cool March there.

Speaker 6 (01:31:34):
Well, yeah, good, December fifteenth is just as good as
Christmas to me, and the Caribbean is fifteen is just
as good as New Years to me.

Speaker 2 (01:31:43):
I got no problem staying at home. So the more
of that story.

Speaker 3 (01:31:49):
The mortgage is paid, the insurance is paid, all one
hundred percent expenses are paid. I just paid for a
car that will sit in Turks and Caicos based on
there is visual leftover income from the unit. I get
it for free, and I and we go there once
every whenever whenever you get you know, once every six
weeks or something, and all I'm I'm not ain't paying

(01:32:11):
for plane tickets because.

Speaker 2 (01:32:12):
I traveled so much.

Speaker 3 (01:32:14):
I got uh, you know, some crazy number of points
on Delta, so I get first class tickets from me
and my wife, but whole trip.

Speaker 2 (01:32:22):
Wealthy people are.

Speaker 1 (01:32:23):
Cheap people using the mind.

Speaker 4 (01:32:33):
I was at.

Speaker 3 (01:32:34):
I was at Fifth Plaza today and I pulled up,
and I mean, the only way to say this right
is it just doesn't sound flossy.

Speaker 2 (01:32:42):
But I'm making a point.

Speaker 3 (01:32:43):
I have my favorite car is my is a Bentley
uh uh flying flying spur uh Limedi.

Speaker 2 (01:32:51):
It's a four door, but I love this car. Car
drive and pull it up even trying to talk yourself
out a bad one.

Speaker 3 (01:32:59):
You know, if you got think about it, don't buy it. No,
I only bought it when I have to think it.
I don't think about it.

Speaker 1 (01:33:04):
I was thinking about photo of two though.

Speaker 2 (01:33:05):
That way okay, But please before you do it, please
talk to me. I don't buy a new one. By
the way, do not buy a new Did I tell
you that? I don't know.

Speaker 1 (01:33:15):
I don't want to say that.

Speaker 2 (01:33:16):
I don't buy anything. Use me, motherfucker.

Speaker 1 (01:33:19):
I said, on by new ship.

Speaker 2 (01:33:20):
Do you want to hear the story or not? Yeah?

Speaker 3 (01:33:24):
So I pulled up and I didn't want to go
to the valet, but but I was only gonna be
there for forty five minutes, but they had the whole
thing coned off.

Speaker 2 (01:33:31):
It wasn't nobody there. The whole thing is coned off.
There's no place to park.

Speaker 3 (01:33:36):
So I forced me to drive my ass up into
the Valet brothers there like that's all the sign forty
dollars for whatever.

Speaker 2 (01:33:45):
Valet revert.

Speaker 3 (01:33:46):
I said, man, you don't get. You don't get or
stay wealthy giving away money. I don't want to give
you forty dollars for it now. I mean, you see,
like a nice guy, I don't want to give you
forty dollars and clearly I can afford. And I went
through this hole and was literally I was aggravated.

Speaker 2 (01:34:05):
Forty dollars is a triggering numbers. I was exceptful. Where
you're buying pussy? I got nothing to.

Speaker 3 (01:34:14):
My bad, so homeboys said, Homeboys said, He said, look,
I know who you are.

Speaker 2 (01:34:19):
I know who you are watching videos. You just showed me.

Speaker 3 (01:34:22):
You just proved to me you're real right, you know?
He said, look, will you can you just take care
of me? I said, look, man, I give you twenty
just because you're a nice guy.

Speaker 2 (01:34:31):
Cool.

Speaker 3 (01:34:32):
So he parked my car at the same place where
the forty dollars parking was I'm happy, remember back to
the good day out. Everybody leaves slightly annoyed, and I
you know, I went in, took my deal, and I
came out.

Speaker 2 (01:34:46):
He threw me the keys.

Speaker 3 (01:34:47):
I gave him this twenty dollars everybody had. But I'm
not giving you forty dollars. That's flossing. By the way,
I don't care where you parked my car. I'm not
giving you forty dollars. I'll drive around next.

Speaker 1 (01:34:56):
Bll a bra go lie bro.

Speaker 2 (01:34:59):
You give me the fun runny because he would have
gave him ten Oh.

Speaker 1 (01:35:03):
No, I would have gave him a double. He would
have to put me like right in the front. But
I need to be by the door.

Speaker 2 (01:35:08):
But I broke people.

Speaker 3 (01:35:09):
I broke people will spend forty dollars for that valet.
We'll go and spend a Louis Louis beton, a Louis Viton.

Speaker 2 (01:35:16):
Person. We can look look at the look at the
lines at Louis Vuitton.

Speaker 1 (01:35:20):
It's US loan.

Speaker 3 (01:35:22):
Do you know that seventy percent of all luxury goods
or poor people and middle class people seventy six percent,
seventy six percent, go look at the don't trust me.
Go to the ball next time and look, food's in
the line. By the way, I'm not telling you not
to buy it. I'm saying your asses cannot.

Speaker 1 (01:35:45):
Be on your ass.

Speaker 2 (01:35:46):
I'm saying it I couldn't do it.

Speaker 3 (01:35:51):
First.

Speaker 1 (01:35:51):
I'm not saying on.

Speaker 2 (01:35:51):
Anybody to be clear about that. I'm not saying anybody
be motivation.

Speaker 3 (01:35:55):
But if I got look, i've got I like nice things, right,
But if I have to think about it, I'm not
buying it.

Speaker 2 (01:36:02):
If I gotta ask what's the payment?

Speaker 3 (01:36:04):
All that stuff you by the way, you never asked
what the payment is when there's an interest rate attached,
you asked what the interest is.

Speaker 2 (01:36:11):
I just saw this.

Speaker 3 (01:36:12):
This brother bought a hell cat. Oh just no, no,
you're not this kind of hell cat. This was thirty
five hundred dollars a month. No, hell no, no he
got that mother fuck.

Speaker 1 (01:36:22):
No for it.

Speaker 3 (01:36:25):
It was like for like seventy two months. Yeah, thirty
five hundred dollars a month. Do that math at twenty
percent interest.

Speaker 1 (01:36:34):
He bought five costs. He bought him FIY should have
been on favor.

Speaker 2 (01:36:38):
It was a twenty twenty three wow.

Speaker 3 (01:36:40):
And he was on social bragging flossing about how how
the lady who sold it to him said, he put
two thousand dollars down and thirty five hundred dollars a
month by twenty credits school and she and she said,
tell all your friends to call me so they can
be fools too.

Speaker 2 (01:36:53):
She can say the foolist part. We have got this Oh.

Speaker 5 (01:37:00):
That shit crazy wow, keep going. And they wanted to
down payment.

Speaker 2 (01:37:12):
And they went with the book up.

Speaker 5 (01:37:14):
When my credit got straight, they just threw the keys
and like, yeah, you come do that ship later on.

Speaker 1 (01:37:19):
Let me tell you something. When I bout then when.

Speaker 2 (01:37:22):
Credit right, they didn't ask for nothing. It's the signature.

Speaker 1 (01:37:25):
But then when I knew the game for them, just
how I know that some nigga don't understand right.

Speaker 2 (01:37:28):
We Proceedson has donated the operation hope.

Speaker 4 (01:37:31):
So but my nonprofit we hear sh in the rap
songs and the rap lyrics and thinking like that's what
we get our financial literacy front.

Speaker 1 (01:37:38):
So all that off the lot. So before I even
bought a car or anything, I went and bought my
mama car. Okay paid cab for it.

Speaker 4 (01:37:46):
Bot IM gonna say that I'm thinking I'm doing something.
I think I did something for my credit because I
have paid the mother like I'm thinking that all they
care about is a nigga praying for the car.

Speaker 1 (01:37:56):
I wouldn't try to go get a car. You know
what my interest well, they wanted to charge me forty
two so my credit was fos up. Whoa, I ain't
got nothing to new with it anything, nothing for your pressure.

Speaker 5 (01:38:13):
And you pay them paying forty two percent entries you
will never even get.

Speaker 3 (01:38:18):
And you know, by the way, I would you were.
I was home when I was eighteen my car got repolled.
What that they were looking for? They never found it,
but I was driving around they couldn't find the repot man.
But I had a repo on a Montero jeep when
I was eighteen years old and I had was homeless.
I lived in that jeep and and my interest rate
was about thirty six percent. So just so you know,

(01:38:39):
and my credit scirl was talking the flow up it
was it was four hundred. So I have been there.
I've been at the bottom and I've been at the top.
The top looks I'm just telling you, the top looks
like hell them a lot better and uh and Rainbow's
only follow storms if.

Speaker 2 (01:38:54):
I had told you not to do that. If you
hadn't done that, and I gave you.

Speaker 3 (01:38:57):
Some lecture about financial literacy and you shouldn't do that,
you would roll you off.

Speaker 4 (01:39:00):
I would have said, would you talking about if I
would have knew better mother and said, now, don't do that.
Give them half front front you feel saying, work on
the payments for a year and a half so you
could build your credit very good, then you would. I'm
thinking they on the care about the money. It was

(01:39:20):
the system and the process.

Speaker 3 (01:39:22):
Let's let's deal with this right now. Everybody, Money's nothing, right, yeah,
I said it. What are we obsessed with? I want
to get that bag. I want to get that cash.
I want to get that dollar. I want to make
that money. It means nothing. Money is nothing more than
an exchange of value. I could say, tell you what,
I'll take this. I'm gonna give you this this yetti

(01:39:44):
thermous for that hat. And if you say, yes, we've
just exchanged value. I could take your your your hoodie
right in the back of it. Pay to the order
fifty bucks, put my routing number, my account number, sign it.
You take that hoodie off, take it to the bank branch.

(01:40:04):
They to go back and huddle and call their lawyers
and figure out where they're under a legal obligation to
cash your hoodie because it's technically a check jail one.
What I'm saying is we get obsessed with this money thing.
It doesn't mean anything. You need wealth, stocks, bonds, homes,
real estate, businesses, cash flow, go, go for sprecious metals.

(01:40:30):
You need assets, and it cannot be on your ass.
So what do we do what we have never done?
Get a will? Get an insurance policy. You want some
generational Well, my brother here on the cameraman, he's probably
late twenties, early thirties. That right, insurance thirty. So you're
in good health. I can tell you they'll give you

(01:40:52):
a million dollar policy for seventy five one hundred bucks
a month, a million dollar policy. You have a child, yet, yes,
you put that. You create a will, you put your
your child's name as a beneficiary of that million dollar policy.
I don't know how long you gonna live. I damn
sure know you're gonna die. It's not a mystery. So God,

(01:41:13):
I hope you live a long time. But if you
get if something tragedy strikes you in fifteen years, an
accident or whatever. Your child's an instant millionaire. That's generational wealth.
Everybody can do that.

Speaker 1 (01:41:25):
No more fish fry.

Speaker 3 (01:41:26):
Please, let's stop doing go fund means to bury somebody.
I am tired of twenty five thousand dollars go fund
me campaigns to bury somebody. It's meant to start a business.
If you have a health policy, you work for some company.
Buried in the fine print of every health policy is
a death benefit. Yep, for twenty five thousand dollars. I

(01:41:48):
know it because as an employer I pay it from
the company.

Speaker 2 (01:41:51):
Yeah.

Speaker 3 (01:41:52):
So we're doing these go fund me campaigns for nothing
if you work for any responsible company, government, whatever. In
the in the details, all the health insurance policy in
the fine print is a death benefit. They supposed to
twenty five grand, which pays for all burial expenses. I'm just, man,

(01:42:13):
I'm just.

Speaker 2 (01:42:13):
I mean, we're not doing the basic ship. What I missed.

Speaker 1 (01:42:18):
What I'm talking about.

Speaker 4 (01:42:20):
Our employee'll be thinking a bad.

Speaker 1 (01:42:26):
We're put some on that.

Speaker 3 (01:42:27):
But we.

Speaker 2 (01:42:29):
Okay, get a normal employer.

Speaker 4 (01:42:30):
Man.

Speaker 2 (01:42:30):
I said, you ain't gonna be have I didn't say hoods.

Speaker 1 (01:42:34):
About free laws. That's about two thous.

Speaker 2 (01:42:38):
To nine, including tonight nine is a is an independent contractor.
Now of all the people watching, though, just let them
know where they can catch up with you at. Yeah,
where they can get the book. Uh, you can get
the book anywhere online.

Speaker 3 (01:42:52):
Is the best seller on on Walmart's the best seller
and four categories on Amazon. It just came out on audiobook.
I eat that myself in my own voice. It's a
best seller.

Speaker 2 (01:43:04):
Uh.

Speaker 3 (01:43:05):
So you can go anywhere online, Barnes and Nobles, black
bookstores have it. Black bookstores have it. And I hate
to be racial here, but it's cars k A R.

Speaker 2 (01:43:18):
L o U s all white folks buying the book.
They won't to see what I want you guys to
buy it for.

Speaker 1 (01:43:25):
I want jobs.

Speaker 2 (01:43:28):
Knows about the civil rights no more importantly capitalism.

Speaker 3 (01:43:33):
L o U S.

Speaker 2 (01:43:34):
Yeah, l o U S.

Speaker 3 (01:43:35):
I hope this has been something enjoyable, entertaining. You know
all of the above. Is there something that that jumps out?

Speaker 2 (01:43:45):
We got any questions from the floor.

Speaker 4 (01:43:48):
So basically, capitalism is just hustling for real, for real,
It's a legal hustle.

Speaker 2 (01:43:52):
It's a legal hustle. Right dealer, is is it illegal?

Speaker 3 (01:43:56):
Unethical entrepreneur, He's part of the important, export, finance, marketing,
hotel resales, customer service, security, territory, logistics.

Speaker 1 (01:44:05):
HR got to have a legit.

Speaker 2 (01:44:08):
A drug dealer, I mean a gang leader?

Speaker 1 (01:44:10):
Is it?

Speaker 3 (01:44:10):
Frustrated union organizer? So we have a lot of talent
in our community focused on the wrong focus on the
wrong ship.

Speaker 2 (01:44:16):
We got you some more good gifts. Oh, I got
some gear, man, got you cool? Thank you? Can I
get something from my wife too? Absolutely? I can't go
hand it. I gotta give her something. We got we
got something for the wife for sure. I'm going to
take my medium. We got you.

Speaker 3 (01:44:31):
Is there any questions or something that jumped out at
you guys for the night that made this worthwhile?

Speaker 2 (01:44:35):
Day one?

Speaker 1 (01:44:35):
Get your credit right, Philip, ladies and jump what.

Speaker 2 (01:44:38):
You say betterly? Oh yeah, we'll get you straight.

Speaker 4 (01:44:43):
Get your credit right, man, go to the bank and
ask for these loans and figure out what you what
you're able to get with your financial situation.

Speaker 2 (01:44:51):
And my boy will do a camera work for me.
He's a big fan of your work right here. He
been watching a lot of us.

Speaker 3 (01:44:59):
You know what gives me hope, And you guys are
partially responsible for it, by the way, because a lot
of our stuff went viral since I was here last
you guys and charlet Mane cam Newton, there's a lot
of Stevie's been a lot of folks. When I do,
I do see it. You know, people stop me. When
when my white brothers sisters stopped me. I know they've
been watching c NBC, but black people stopped. Great, it's

(01:45:19):
it's all you guys. Anyway, I can't go anywhere, and
it's a beautiful thing. People even at the mall to day,
I can't go. I can't go ten feet. But that
means that our people are getting the memo. That means
that we want to make smart sexy.

Speaker 2 (01:45:33):
That means you got to keep coming back.

Speaker 7 (01:45:34):
Well, you gonna be our financial you know, economic teacher
in the neighborhoods ken what.

Speaker 2 (01:45:45):
You got a lot of.

Speaker 1 (01:45:53):
From moving from.

Speaker 2 (01:45:56):
Yeah, that's a great question.

Speaker 3 (01:45:57):
Uh, I'm gonna sub text it and say I'm gonna
give you an answer in three parts.

Speaker 2 (01:46:02):
It's credit.

Speaker 3 (01:46:05):
Understanding what was behind credit, which is capitalism, which we're
still we're still having this dumb ass argument about I mean,
if you go you go to my comments. Sometimes people
just want to spend all this time arguing about we
want to destroy the capulist system. You in the capitulist
system killing now you just please knock it off? Like

(01:46:27):
I don't have time to go back and what you
can do spend another two hundred years rebuilding.

Speaker 1 (01:46:33):
I don't know.

Speaker 3 (01:46:33):
I just it doesn't make any sense to me. Like
you're in the system. Less upgrade it and make it
work for us? Please please, I'm begging you. So we're arguing.
We're arguing about money. The Bible says, by the way,
this the number one thing mentioned in the Bible more

(01:46:54):
than two thousand times is money. Money's not evil. It's
the love of money that's evil. It's the greed. Can
we please stop it? Like you can't run a church
without donations, you can't run anything without money. Can we
please knock it off? So the first thing is mind

(01:47:14):
is said, there's a difference between being broken being poor.
Being broken is economic. Being poor is the disabling frame
of mind, a depression edition of our soul. And we
must vow never to be poor again. They got us
so messed up PTSD. We're angry, we're frustrated. We wake

(01:47:34):
up on survival mode. We're distracted. And if the right
side of your brain shuts down. That's where creativity, that's
where that's where hope, well being, belief, joy, confidence, empathy, love,
that's where all the juicy stuff is. If you stress
the fudge out, if you piss the fudge out, this
shuts down. You can't get to the left side of

(01:47:57):
your brain, which is where logic is. You don't make
logical decisions because we're angry and emotional and you should
never make an emotional decision. Whenever you make an emotional decision.

Speaker 2 (01:48:09):
It's going to be fucking wrongcuse me, fudging wrong impulse.

Speaker 3 (01:48:13):
So we live on our impulses. We're depressed, we haven't healed.
We argue about basic shit. We need to knock it off,
and then we need to understand money is not evil
and credit is good.

Speaker 2 (01:48:26):
There's good debt and bad debt.

Speaker 3 (01:48:29):
Good debt is tied to something that appreciates. Bad debt
is tied something that that depreciates.

Speaker 2 (01:48:37):
Financing jewelry is bad debt. Financing tennis shoes is bad debt.
Financing vacations is bad debt. Financing a ticket.

Speaker 3 (01:48:48):
To a concert, which we are doing, is bad debt.
We keep asking what's his payment? You know, Financing a
hellcut at three five hundred dollars a month, which is going.

Speaker 2 (01:49:00):
To depreciate like a rock depreciated when you bump you
d when by.

Speaker 3 (01:49:05):
The way before coming to come in to your question,
this is a great question. I wanna stay with this
for a second. A car dealership. It's three businesses.

Speaker 2 (01:49:13):
Mm hmm.

Speaker 3 (01:49:14):
The least valuable, The least profitable auto sales. The second
most profitable the finance department. That's where you went. The
third most profitable. Sorry, the first most profitable, I'm sorry, sorry,
the least profitable. The third most profitable is sales. The
second most profitable is finance. The first most profitable was maintenance.

(01:49:39):
They can't wait for you that car to break down.
They can't wait for you to drag your ass back
into that dealership. So because you need the car, and
they gonna hit you with a bill that's gonna make.

Speaker 2 (01:49:51):
Your eyes bulged.

Speaker 3 (01:49:53):
And then if you default, they're gonna sell repair it
for frash the costs and sell it to somebody else.
Three businesses and a car dealer. So you think you're
doing something when you get that price down, and then
you relax and you go in the finance office. You
are happy and you do you think the person over
there is your friend, Hey Joe, Yeah, you want a beer?

Speaker 2 (01:50:12):
Like you like some water? You know, you got some chips.

Speaker 3 (01:50:15):
They're getting you all relaxed so they can eat you alive.
And what you're not paying attention then, is they made
up the discount of the price when they hit you
at the interest rate because they're in partnership with the
financer companies and your credit is talk from the flow up.

Speaker 2 (01:50:31):
Otherwise you to walk in with an approval. You follow me,
so they work.

Speaker 3 (01:50:36):
They were going to offer you before you got the
discount of the price, they were going to offer you
fifteen percent interest and what's called three points, which is
a fee that they get at the dealership, the three
percent of the purchase price. But because they don't like attitude,
because you press them, they told a finance company charge
them eighteen percent and I'm gonna collect five points.

Speaker 2 (01:50:58):
And then they say do you want.

Speaker 3 (01:51:00):
You want to warranty? And do you want to you
want a maintenance contract? And do you want to you know,
they got all kinds of stuff.

Speaker 1 (01:51:07):
You want.

Speaker 2 (01:51:12):
Content and then we got the but we're gonna let
you give.

Speaker 1 (01:51:20):
Exactly.

Speaker 3 (01:51:22):
You end up a third of the purchase price. You
just wrapped up an interest and crap and the car
is gonna break down. It's not Mercedes's mercy these payments. Now,
let's go back to your Please hear me. Everybody people
tell you that debt is evil, is wrong, sorry, not
is are wrong. There's no successful city, there's no successful county.

(01:51:47):
There's no successful millionaire multimillionaire. There's no successful billionaire. There's
a successful country. Please hear me.

Speaker 2 (01:51:54):
There's a successful company that did not do it on
the back of good debt. What's the difference between good
interest rate and terms? Mhm. So I had a line
of credit.

Speaker 3 (01:52:15):
I don't remember what year it was, with late teens,
like a seventy five thousand line of credit. It was lazy,
somebody offered to me, I was doing some stuff around
the house. I said, yes, I didn't want to use
my credit card anymore, as I'm using my AX to
pay for everything and pay. By the way, credit cards
different from a from a from a charge card. Okay,
a charge card you pay every month. I don't want
to assume anybody knows that stuff.

Speaker 1 (01:52:38):
Don't show him you call it. Oh, he need to
zoom in to get hold, Paul, I want to inspire people.
Been high a number? Manti that out.

Speaker 2 (01:52:52):
So that's that's you know what that is?

Speaker 1 (01:52:55):
Black car, no limit on it.

Speaker 3 (01:52:57):
I can technically buy the building, right, So I charge
every month on this card six figures right.

Speaker 5 (01:53:05):
Uh.

Speaker 3 (01:53:06):
And then my different departments, different companies reimburse me. They
are portions of this and then I pay the bill.
You got to pay it in full every month, So
every month I pay six figure credit?

Speaker 1 (01:53:21):
What days? What days do you do you allow?

Speaker 2 (01:53:24):
You know?

Speaker 1 (01:53:24):
So far? Says only only say you got limit? Ain't no,
so you ain't got nothing?

Speaker 3 (01:53:28):
So again, great question. That's a credit card a charge card?
I mean in my case there is no limit, but
a charge card they will set they say you have Look,
you have a three thousand dollars spending limit or whatever
it is.

Speaker 2 (01:53:41):
You can charge up to this. By the way, a
debit card is not a charge card.

Speaker 3 (01:53:45):
A debit card is a I'm snatching your stuff right
now audio bank account. Do anybody old enough to remember
floating checks? Am I the only person in here?

Speaker 2 (01:53:55):
My man? You don't float check.

Speaker 3 (01:53:57):
You write a check and you would write it and
sign it and mail it, and you knew it would
take three days to get to them they deposited, take
another three days ago.

Speaker 2 (01:54:08):
Dude deposits on Thursday, all yourself a week. That's right,
you and boself. You gotta go run around, take some
posted it checks.

Speaker 3 (01:54:14):
Y'all understand. You don't understand. So now the modern version
of that is a debit card. But that's instantaneous. They
took the money right away.

Speaker 2 (01:54:22):
Okay.

Speaker 3 (01:54:22):
A charge card is I'm gonna give you thirty days
to pay this off. That's an AMEX card, a diner's card.
A credit card is like visa master card. They give
you a certain limit, and you have a rolling balance.
And if you and you make many people make minimum payments,
which I don't agree with on that, you're right, you

(01:54:43):
want to charge only thirty percent of the available credit.

Speaker 2 (01:54:47):
Now people make this mistake.

Speaker 3 (01:54:49):
They say, if I have a ten thousand dollars limit,
that's better than having a one thousand dollars limit. Not necessarily,
if I have a ten thousands limit, but a nine
thousand dollars ballance. Verse, it was a one thousand dollars
limit and a three hundred dollars ballance. The person with
a thousand dollars credit card and a three hundred dollars
ballance has a higher credit score than the person with

(01:55:10):
a ten thousand dollars limit and a nine thousand dollars ballance.
Because you have more leverage and more debt. You follow
me this right, It's a basic thing. Nobody teaches you.
So I'm not sure what point was I making. I
was talking about a good debt and bad so so
I had this this line of credit for seventy five
thousand dollars. Make a long story short. My payment was

(01:55:32):
about twenty hundred dollars a month on this line of credit.
And I was lazy about it. I didn't really pay
attention to it. I just it was convenient. I was
tired of using my black car.

Speaker 1 (01:55:43):
Was asking no credit card?

Speaker 2 (01:55:44):
This was no.

Speaker 3 (01:55:44):
It was a line of credit, line of credit. It
was I forget what they call it was like it
wasn't a homemaker the line of credit, but it was.
It was a credit card that was designed for the home. Okay,
And I was using my AMEX card to do my
wife was doing some household stuff and I thought it
was about fifty grand and I just I want to
put this on a segregated card. It called you twenty
five hundred dollars a month is my point to hold

(01:56:05):
on to that. I'm talking to one of my very
very wealthy friends more well, at that point, much more
wealthy than I was.

Speaker 2 (01:56:11):
I again, shut up and listen, and I was rich.
He was wealthy.

Speaker 3 (01:56:15):
Now I'm wealthy, but he was uber wealthy. He said,
what are you doing? He said, John, just go get
a line of credit. Interest rate is three percent back
then two to three percent. Go get a line of
credit for At this point it was a million five
line of credit. The payment on the million fine line

(01:56:37):
of credit was fifteen hundred dollars a month.

Speaker 2 (01:56:40):
What did I just tell you?

Speaker 3 (01:56:41):
The seventy five thousand dollars line of credit, what's called
twenty five hundred dollars a month? A million, five million
dollar line of credit was costing me fifteen hundred dollars
a month.

Speaker 2 (01:56:53):
That's the game.

Speaker 3 (01:56:53):
I'm gonna get another one, and you guys should do this.
Go open a stock account. You got you got twenty five,
you got fifty grand, you got one hundred grands, you're
doing a concert, whatever, you get a bunch of money.
By the way, think about taxes. I'll talk to you
about how to deal.

Speaker 2 (01:57:07):
With that in a minute.

Speaker 3 (01:57:08):
But think about Okay, we got to a one hundred
grand to see a hundred grand for you, ten grand
for you in the audience, or five grand. Go over
the stock account. Buy conservative stocks, Do not do cryptocurrency,
Do not do crazy stupid stuff. Go buy stuff you use.

(01:57:29):
Go to Walmart, Go buy Walmart whatever you use.

Speaker 2 (01:57:33):
Buy it you like.

Speaker 3 (01:57:34):
This is Paragamo shoes, Buy per Gamo stock, whatever you love.
You like Gucci by Gucci stock if you like, everybody
else likes it.

Speaker 2 (01:57:40):
Follow me so far. Yeah, okay, buy stuff you use
you like. Go look at your appliances in.

Speaker 3 (01:57:46):
Your house, black and Decker, black and Dicker, the car
you drive, buy that by for whatever it is you like,
everybody else likes it. Buy that stuff, do not sell you.
Then go back and ask for a margin account. Now
you're the bank of Carlos, right, this is this is gangster.
So now you have a in this example, you have

(01:58:07):
a one hundred thousand dollars stock account.

Speaker 2 (01:58:08):
Right, and they're gonna match a hundred No, they're.

Speaker 3 (01:58:10):
Gonna give you a line of credit for seventy percent
of your balance. Okay, for now, it's seventy grand. You're
not gonna use seventy grand. You're not gonna leverage yourself
because if the market comes down, you're in trouble. But
you're gonna use thirty thousand and forty to fifty thousand
dollars of that, and you're gonna charge yourself. They're gonna
they're gonna charge you about four to five percent interest rate.

Speaker 2 (01:58:33):
In the current environment. That's cheapest money you'll ever get.
And you're your own bank. And this is the gangster part.
The money is still making the money.

Speaker 3 (01:58:45):
Did you get that right? You're borrowing from yourself. You're
the bank of Carlos. You're getting the lowest interest rate possible.
And why you're borrowing from yourself.

Speaker 5 (01:58:56):
Stock account, paign stock account is still making money, making
money through.

Speaker 3 (01:59:01):
The stock market because the companies are still out there performing.

Speaker 2 (01:59:04):
Did you guys get that? This may be the most
important thing.

Speaker 4 (01:59:06):
I said, I got a one point I got a
one point five line of credit. But I just went
and got a margin account and use my my one
point five line of credit as leverage to get the
margin account.

Speaker 2 (01:59:16):
What you said just the other way around.

Speaker 3 (01:59:17):
Let's say you have Let's say that you have a
million dollars that you don't that you're sitting in a
bank earning nothing nothing.

Speaker 2 (01:59:25):
You take that million.

Speaker 3 (01:59:25):
Dollars and you put it in a stock account some five.
You only invest in conservative, boring stuff. Yeah, boring conservative.
You then asked whoever sponsored the margin account? True, is
JP Morgan Chase Wells Fargo's handling their bank region's bank Fidelity? Uh?

Speaker 2 (01:59:50):
Infidelity? Whoever sponsors it? You asked them.

Speaker 3 (02:00:00):
So, Uh, my my family office is with Rockefeller Rockefeller
as in the Rockefeller family. So you ask them for
a margin, a loan, a line of credit. It's called
a margin account. Use then use your your lifestyle. You
make your lifestyle purchases on that line of credit now here,

(02:00:23):
and they're going to charge you below market interest. This
is a gangster move, one for your for your loans
against yourself. Meanwhile, the best people in the world on
investment while you're here doing your performances, while you're traveling.
I'm gonna tell you make money into that you build
well in your sleep. These people stake their whole careers
on making the market go.

Speaker 1 (02:00:44):
And you can do that, and you can do that
again once to once you pay that loan off, it
gets better.

Speaker 2 (02:00:54):
If you sell an asset, you you owe taxes capital
gains capital gains.

Speaker 3 (02:01:00):
But if you get a loan against the asset, you
don't pay taxes. In fact, you write that loan off
against your taxes and get the benefit back twice because
you're paying a bill. That's why I'm gonna tell you
what I'm giving away a bunch.

Speaker 2 (02:01:16):
Now you can get com.

Speaker 1 (02:01:22):
Hold on.

Speaker 2 (02:01:24):
Let me look, I don't wrote it down.

Speaker 1 (02:01:25):
I said margin.

Speaker 8 (02:01:26):
Look camp, don't use butter getting margin, getting margin, by
the way, I wish we had a wish, We had
a wish we had a knife.

Speaker 2 (02:01:36):
Here is there a butter knife? Here? A knife here?
No knife you had If you.

Speaker 3 (02:01:39):
Had a knife, Let's assume it's a knife. You can
use a knife the butter bread are you can use
a knife to cut somebody. We gotta were using the
knife for the wrong damn purse, ool and a weapon.

Speaker 2 (02:01:50):
That's it. We we we again.

Speaker 3 (02:01:52):
If your survival mode, if you're angry at the world,
the only purpose for that knife for you is to
cut somebody. Stop being angry. If the butternight is meant
the butter bread, damn it. Now, let me tell you
the real gangster move wealthy people don't want income. I'm
gonna break it down here, Warren. When Warren Buffett say it,

(02:02:18):
my recessionist pays more in taxes than I do.

Speaker 2 (02:02:24):
That's because he does not have an income. I mean
to break this down.

Speaker 1 (02:02:32):
That's what he's sending that money to.

Speaker 3 (02:02:33):
His His secretary gets a paycheck. Remember I tell you
second Reconstruction was cashing the check. Third Reconstruction is writing
the check. Warren's the writer. The secretary is the casher.
She gets a ten to nine and she gets a
W two withholding statement that has local, state, and federal withholdings.
She gets a paycheck every two weeks. Because she's in

(02:02:55):
a risk management form of capitalism. She's not taking the
risk of Warren Buffett.

Speaker 2 (02:03:00):
She is.

Speaker 3 (02:03:00):
She knows as long as we're both its companies in
business will get She's gonna get paid.

Speaker 2 (02:03:05):
So her risk is lower. Her income is guaranteed, but
she has no upside in birth.

Speaker 3 (02:03:10):
Sure hack ofaway. Am I going too fast? This is
really important? This is like of everything I've said, this
is it. She's in capitalism. Everybody is. But the lower
you are on the totem pole, the more you're guarantees
of a regular something.

Speaker 2 (02:03:28):
The lesser risk, the higher you go up to the
total pole.

Speaker 3 (02:03:32):
The more your risk, the less you're guarantees, but the
higher upside. The greatest form of a risk taker is me.
I'm an entrepreneur. I roll it all every day. If
it works, it works. If it doesn't, what I can
tell you, I won't wait here. I lost one twenty
six million dollars. I'll be fine, but there was a

(02:03:55):
time one twinty six million dollars would have taken my
ass completely out right. But so most people are like,
I don't want to do that thing that John Bryan's doing.
My payroll is two million dollars every two weeks. My payroll,
it it doesn't include me. So most people are like,
you know what, I admire that John Brian gut. That's
just too much going on. He works eighteen hours a

(02:04:16):
day and it sounds all cool. But I just want
to come home at six.

Speaker 2 (02:04:20):
I want to go on at five.

Speaker 1 (02:04:21):
I avoided that. How Warren avoided that?

Speaker 2 (02:04:25):
Okay? My bad just wants me to cut to the ends,
all right.

Speaker 3 (02:04:28):
The secretary is paying taxes of thirty eight to forty five.

Speaker 2 (02:04:32):
Warren died, Okay, Warren Warren.

Speaker 3 (02:04:35):
Buffett only pays taxes when he sells an asset. It's
called capital gains. Its twenty percent. And he only sells
assets once every five years or so.

Speaker 1 (02:04:49):
So what he doing with the income?

Speaker 2 (02:04:50):
And in the meantime he's taking loans against his assets?
Start tax deduct double.

Speaker 1 (02:04:57):
He taking loans And are you here?

Speaker 2 (02:04:59):
He gotta come? Are you hearing me? You get the stock? Huh?
Don't you repeat this now? I was talking about He
asked what Warren do the for his income?

Speaker 3 (02:05:09):
His income is in the all billionaires, all billionaires, let
me you phrase it.

Speaker 2 (02:05:13):
No billionaire is on an income on salary.

Speaker 1 (02:05:16):
None.

Speaker 3 (02:05:17):
They hate billionaires centi millionaires one hundred million dollars. People
have one hundred million dollars. Multi multimillionaires do not like
income because it's taxed at the highest rate possible, thirty
eight to fifty percent. Me doing federal, state, and city.
Capital gains is twenty percent.

Speaker 2 (02:05:40):
Automatic capital gains.

Speaker 3 (02:05:42):
Is when I buy this book for twenty five bucks
and I sell it for fifty bucks, the capital gain
of twenty five bucks. That's difference. I pay twenty percent
on the gain. But I mean I sell this for
five years in the meantime, I'm taking you a loan
against the I said to finance my lifestyle. That's the
margin account, and I write off the loan because if

(02:06:07):
I fail, I got to pay the loan anyway. But
if you, if you know who you are, you don't
think you're gonna fail, and you're banking on yourself. Now,
some people are gonna listen, watch and say, see, I
told you those rich people WI don't pay no taxes live.
Seventy percent of all US taxes are paid by people
like me. Seventy percent. We pay less in traditional taxes,

(02:06:31):
but the big checks we write for capital gains and
property taxes and sales taxes.

Speaker 2 (02:06:36):
Entrepreneurs are through the roof. So so shit.

Speaker 4 (02:06:42):
Is avoiding tax of not knowing that you got one
hundred dollars dollar property tax you gotta pay.

Speaker 2 (02:06:48):
That's right.

Speaker 3 (02:06:48):
My party tax bill in my house, just one of
my houses, twenty five thousand dollars just on one of
one of my houses.

Speaker 2 (02:06:54):
That's the Bay County loves that. And I got more.

Speaker 3 (02:06:58):
I mean, I got a bunch of I gotta pay
every year. So no one's getting away with anything. You
just it's just how you decide to play this game.
But people who are not financially literate just assume, well,
why are rich people paying nothing? No, they're paying nothing
because they don't have an income. They don't want an income.

(02:07:19):
I am trying to transition right now from I'm building.
I built up cash flow, but now I want to
get rid of it.

Speaker 2 (02:07:28):
You follow me. Yeah, I built up cash flow.

Speaker 3 (02:07:31):
And by the way, I have enough expenses to offset
by cash flow, so that sometimes I get a tax refund.
Really yeah, and sometimes it's neutral.

Speaker 2 (02:07:43):
I just had enough. I don't owe, but when I owe,
it's six figures. I mean it's a you know, six
figures of me. But you know you do it right.

Speaker 3 (02:07:51):
But my real goal is to not to get to
a point where I have no income. I'm working off
of my capital gains, which means you have accumulated enough
assets that they're always dropping every few years to sell.

Speaker 2 (02:08:07):
The whole purpose of companies to sell it. By the way,
this is we don't have time for all of this.

Speaker 5 (02:08:12):
Were you're gonna come back on a Saturday morning, we'll
do a whole seminar and ship.

Speaker 2 (02:08:18):
Seminar and ships because I'm glad you brought it up.

Speaker 5 (02:08:22):
Because there's black men and ship is the most important
part of whatever you've said.

Speaker 2 (02:08:27):
That it mightn't be somewhere and it ain't no ship
going on. We having a cookout, say we having a
cook gap and ship.

Speaker 3 (02:08:34):
My brother Howard Hewett from Shallamar, we love this word situation.
Everything is a situation. You know that situation, Remember that situation.
You know that you got that little situation I was in,
But I don't know what about that situation. I'll be
happy to come back the last part of this interview.

(02:08:55):
Uh is everything if you can just get that as
successful people want, I try to get something for everybody here.
By the way, this is just two hundred pages of math.
By the way, it's two hundred pages. There's no politics,
there's no emotionalism. It's just it's just it's just math.
And I want you to read it. And if you
don't like the book, you send it back to my
office in Atlanta with your receipt and with your postal

(02:09:18):
postage costs. I will write a check back to you
for the cost of the book and your postal costs.
I'll donate the book to a library and give you
your money back. That's how much I believe that if
you just get to the preface, the preface, which is
after the forward. Just read the preface. If the preface
is not, have your head spinning backwards. Put the book down.
That's how gangster I believe it is. But there's these

(02:09:40):
little hacks in life, these little success hacks, these little
these little features of capitalism and free enterprise, that once
you get it, once a light comes on, you can't
sleep because you're like, I figured this thing out.

Speaker 2 (02:09:56):
I finally figured out how to make this system work
for me, versus making the system work right. It ain't
never working again. No, why say all that. I'm just
saying I ain't gonna be an employee and again the.

Speaker 4 (02:10:13):
System.

Speaker 2 (02:10:14):
I'm just saying, I ain't gonna have to be up.

Speaker 5 (02:10:16):
I ain't have to be there at eight fifteen like
they said and talking about you got your fifteen minutes
to eat a little sandwich.

Speaker 2 (02:10:22):
Just I never I ain't gonna have to wear a
shirt that matched nobody else shirt.

Speaker 1 (02:10:27):
That. But what if it's a big fortune five, I'm.

Speaker 2 (02:10:29):
Saying that it's gonna have my name on it, motherfucker.
I tell you that. Unless with me and John O'Brien
started coming to somebody ain't all that, man, you know.

Speaker 3 (02:10:38):
Do you know how good it feels to tell people
when you come to Atlanta, stay at my hotel?

Speaker 1 (02:10:43):
How can we do that? Is it part of the
momb war? Is it part of all that?

Speaker 2 (02:10:46):
We're not to get in?

Speaker 3 (02:10:47):
We got to get it Phoenix Hotel, Phoenix right the
Centeniar Yards to talk to you about I'm an investor and.

Speaker 1 (02:10:52):
Go to put us.

Speaker 2 (02:10:56):
Investor and Grant Hills an investor. No Canadian you got.

Speaker 5 (02:11:02):
I mean we ain't got great heal of money, but
I mean between two of us, we can get in
with the fight in if y'all get.

Speaker 2 (02:11:11):
In with us. But we can raise some capital. Let
us suck with some capitalism.

Speaker 1 (02:11:15):
You know what I'm saying.

Speaker 5 (02:11:16):
We ain't gonna even tell everybody we got a little
piece of Just put our name on the cornerstone, and we.

Speaker 2 (02:11:22):
Ain't gotta be our name. Ain't five style.

Speaker 5 (02:11:28):
Everybody back here want their books saying man, I'll be
honest like you said, man, we know your time is
valuable and we appreciate it.

Speaker 2 (02:11:34):
Every time stopped. Old Brian.

Speaker 1 (02:11:43):
Get the book saying man, yeah, I'm fussing with it.

Speaker 2 (02:11:47):
You could be the first one signed out the new
table Man. Okay, oh my god, I'm gonna.

Speaker 1 (02:11:51):
Get my credit clean clean. I don't thankful how to
do this ship. It's just simple, like what he said

Speaker 2 (02:11:57):
Like most really, that's

All Episodes

Capitalism for All with John Hope Bryant, DC Young Fly, and Karlous Miller | 85 SOUTH SHOW

Episode Transcript

Hosts And Creators

DC Young Fly

Karlous Miller

Chico Bean

Popular Podcasts

Stuff You Should Know

Dateline NBC

Betrayal Weekly

.css-15opob5{left:0;position:absolute;top:0.8rem;} All Episodes

.css-14f5ked{margin:0;word-break:break-word;display:-webkit-box;-webkit-box-orient:vertical;box-orient:vertical;-webkit-line-clamp:2;overflow:hidden;}Capitalism for All with John Hope Bryant, DC Young Fly, and Karlous Miller | 85 SOUTH SHOW