Speaker 1- Okay, thank you! - Now hold on, I gotta get the sign off my back. - So those are handmade in Japan. - Oh, the boy went overseas, got them.
Speaker 2Are these Balmain? Why you just ain't say that anymore? - All Balmain aren't the same. - I know who Balmain is. - Okay. - Guess what? These ain't nothing but the blue version. Four dollar guy, they the blue version.
Speaker 1I've had those for four years. - Oh yeah, they're good. - They're handmade, and-- - Oh, okay. - I mean, they cost, you know, 800 bucks or whatever. - 800, that ain't bad. - They feel green on my face, it doesn't, you know, nothing worse than putting glass on your face and your nose, your nose hurting, your ears hurting, your head's ringing. I'm just saying, if you buy it right, you buy it once. Unless it don't matter. -
Speaker 3Yeah, it don't matter to me. -
Speaker 1If the glasses don't matter, then you-- -
Speaker 3And I've been thinking he'd give it down. He'll just take them shits off and leave. I'm like, bro, you left them glasses. I'm like, no, I don't-- -
Speaker 1My wife has 10 pair readers for that same exact reason. She'll buy, she'll buy, 'cause it doesn't matter to her. -
Speaker 2No, don't get me wrong. I am a Cartier collector. Shall I pop it? I will pop, just once. - Yeah. - I got about 15 different, different Cartiers from different places around the world. But as you wear them, three, four usage, they loosen up. So in my head, it don't matter the number that you spend. I just spent $1,400 on some shades, that's uncomfortable. I spent $20 on some shades, and I'm still getting the same pussy that I was getting. - With the other shades. I just wanted the experience. The experience didn't get me what I wanted. -
Speaker 3What's your restaurant? You guys are hilarious. -
Speaker 2I'm just in the club. So when niggas say I ain't in the club. -
Speaker 3My next question. - I'm in the club. - Why would you be a collector of some shit that you know ain't gonna last? - It's not that.
Speaker 2When I was young and I was doing it, I was young. I'm like 25, you know what niggas, 25, bro. I ain't never had shit. - How come you giving up on this nigga? - 25 years old, I ain't never had shit. I got six of them Cartier. Boy, I always wanted the Cartier. The Cartier's I bought back in the day, they was $30. I know they on the fish. - Those were cart heads. - Them bitches was jacked. - Them were cart heads. - Them was Lil Wayne glasses, you hear me? So now that I'm in the club, I'm like, ooh, I got Cartier, but I'm like. -
Speaker 3You buy 'em. - That's what niggas go through, they have Cartier. - You buy 'em, and you know that they has hell, but you know the type of lifestyle you live in, they not conducive, they gonna get loose, and the shoes gonna fall out. -
Speaker 2I'm not buying 'em to wear 'em at this point. I was buying 'em to say, ooh, you can't grab these because they only made these in Puerto Rico. Ooh, I got these, motherfucker, 'cause they was over there in goddamn Belize. - You don't wear them. - I don't wear these, 'cause I know another motherfucker ain't got 'em. I wanna have 'em. - That mindset is fucked up. - So when a nigga say some shit, I be like,
Speaker 3bitch, I know you ain't with the Belize and get these. These, motherfucker? - See, that's fucked up. That's why they was on there arguing about the AP and the swatch collection. It ain't that you give a fuck about the AP. You just didn't want other
Speaker 2niggas to have this shit. - It ain't that, bro. When you ain't have it, and then you start getting it, and then you realize what it takes to get it, you like, damn, when I didn't have it, you ain't reach me. You ain't make sure I had an AP. I waited 'til I got real AP, gang. - For sure. - Now you like, you know what? But see, it's not about that. AP finna make a killing. - Nigga, and plus, they just dropped
Speaker 3a little pocket watch. Motherfuckers actually thought they finna get a bust-down collaboration. Bro, them motherfuckers made a pocket watch that hang off your belt loop. And all them niggas like, y'all did all that arguing for what? - AP and Z Shop ain't do nothing but collaborate. - Man, they made a pocket watch, not a wrist watch. Man, they got a $300 AP. Then they put all these fake-ass pictures out, different colorways and everything. They ain't never even said that.
Speaker 2The internet is a goddamn pocket watch. It's a market. We gonna fake like we finna put something out there for 'em to buy, get 'em to come in the store and buy something else. - 'Cause they gonna do it every time. Consumers is crazy. It's about the money, man. I can trick you into buying some shit. Hey, where them $300 ones at? They like, "Nah, they ain't in here, but we got them $900 ones." I'm like, "Oh, okay." - Oh, we sold out of them things, y'all. - You sold out of them? -
Speaker 4Uh-oh. - Oh, good. -
Speaker 2They in bad order. - 'Cause you know how niggas is. They don't wanna come out the store without nothing. - I gotta look like I'm doing what I'm doing. Nigga done spent everything just to look like he do. Don't nobody give a fuck about nothing what's in your bag. - Nobody cares. - You know that KD with $200? - Nobody cares. - Nobody care? -
Speaker 3I was looking through my glass last night. I got some Metaglass, the one they record. - Right. - I ain't recorded shit on that. - But I recorded so much on my Metaglass. -
Speaker 1You guys have an official start for your interviews or you just-- - We gonna have an official start. - You just flow. - Yeah, we just be popping shit. We gonna start out with the glass. -
Speaker 3And then get the voices warmed up and then, yeah. - See, we start out with the glass. That's how we pop it off.
Speaker 2Just to show people that we still humble. - We talking about capitalism. -
Speaker 1Here we go. ♪
Speaker 2We are humble ♪
Speaker 3- We don't want them to be expecting too much. - Mm-mm. - We'll pop every blue moon, but we humble. - Hello, guys. Welcome back to the 80's Facts. - The hot sauce packets we don't use. We put 'em in the refrigerator. - Yeah, we'll have an official start here in a minute. -
Speaker 1It's better to underestimate and overperform than overestimate and underperform. -
Speaker 2Absolutely. - Come on now. Say that again one more time. -
Speaker 1For sure, for sure, for sure. - That's what you said. - Right. - Lower expectations. - Yeah. - And people don't know what's coming and then you slam 'em. - Slam 'em in the head.
Speaker 3That's a surprise. -
Speaker 1Yeah, yeah. It's a beautiful thing. -
Speaker 3They didn't think we was gonna make it this far. They had already underestimated us way from the beginning. - Yeah. - And then they see us do great things and they be like, "Man, we so proud of y'all." I'm like, "Proud of what?" - Right. - We even did what we really 'bout to do here. - I'll tell you. - Man, congratulations on all your success. - Look at what success. - They just happy
Speaker 2that we still together. - I can't believe y'all can sit right there and just be friends. - 10 years? - That's a long time. - Ain't nobody got y'all? - God damn. - Y'all boys
Speaker 3on the side. - Well, y'all doing some good shit. - Keep doing what you're doing. And in my mind, I be like, what gave you the inclination that I wasn't? - Right. - What made you feel like I was 'bout to stop doing? - What the fuck I'm supposed to be doing? - This ain't even it. - This just the beginning. - Wait till they give me the money. -
Speaker 1The very fact that you guys are in the same building, with the same crew, with cameras you own, with a building that don't have red notice on the door. -
Speaker 2Something need to go get fired, but keep going. -
Speaker 1I mean, with lights that are on. I mean, this is success here in and of itself. I don't know many brothers who have their own platform, their own, effectively, your own studio. - Oh man, Jay, don't do that. - You gonna blow our cover, man. - Don't do
Speaker 2that, man. Don't tell 'em to stop, man. - They thought we was rude. - They said the white folks did this. - We written this shit. - White man, don't come, don't show you the whole thing. - Son of a man, don't do that. Don't do that, white man. -
Speaker 4They record out of a crack house, actually. - Come on. - In the worst part. - In the worst part. - We still in cave.
Speaker 3We still in cave. - Now, that mean a lot, though. We sat down and we talked about it. Like, we got all this money. Ain't nothing you can walk up and touch, though. Ain't nobody got no building. We done supported all these underground rappers and said that they was the CEO. We should have been able to go take a picture by the wall like you can in Motown. - Right. - Mm-hmm. - I don't know where no one in the studios at. Not saying they don't have one, but we need to see that. We need to see our people owning some shit. - Yeah, yeah. - Especially in the city like Atlanta. I'ma pull up and support whatever they got going on. Yeah, Bankhead Seafood and the Hookah Lounge. You know all the places that they say got the grass on the wall? That's all I want to go to. - Fact. - Yeah. - I went to T.P.'s studio.
Speaker 2I just walked around. They thought I was up there. I didn't want to be here. - Beautiful out here. I like the grass out in the front. - I'm going to the back. Don't nobody go, "Yeah, I'm seeing all this shit." - I'ma see the gray. He got a little pond over there. - He got an army base in the, it's really, he kept the building. - Got some ducks. - Same lights. It's orange as hell in there. -
Speaker 3You seen the ducks? - No, I didn't see the ducks. - You got some ducks over there.
Speaker 2Really living. - Damn, I could have fucked with a duck. - I don't know that name. - You said T.P. I said, "Oh, T.P." - He know him like that. - He didn't know him. I said Tyler Perry, my nigga. - Oh, you didn't know who the fuck I was talking about? -
Speaker 3I didn't know who they was talking about. - You didn't get the fuck out from the family, the hell? - It was your party. -
Speaker 4What the hell you thought I was saying? - Nigga, I don't know who that T.P. is, nigga. - Nigga, you got to know the names out here, man. - Come on, man. - You didn't have no guess. You didn't guess T-Pain or nothing. - Nigga, I ain't guessing no one, no motherfucker. - Todd Perry. - Nigga
Speaker 2thought I was with Todd Perry. -
Speaker 1Hey, hey, T. - And talking about owning something, I mean, that could be our, that could be the black version of Disneyland or, or what's that in Los Angeles, and there's a studio, Universal. That could be the black version of Universal Studio. - For sure. - There should be, there should be tours. There should be, you know, family tours through there. 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 given him the respect that he deserves. I mean, he's right here in Atlanta. Nobody talks about it. It is, it is unbelievable. - For sure, he definitely doing his thing. -
Speaker 2He doing his thing. - Definitely need to be like a tour, some tour shit going around. - And you guys are doing your thing. - So they need to bring that tour on down here, too. We down with T.P. tour over here, too. - You got to do your own tour. -
Speaker 3For sure. - The hood tour. - For sure. - Now we want a brand, the hood, I already know. - I think by the time we get to the second-- - The hood, Inc. - The second studio. - We want to go to Suburbs. -
Speaker 1We want to go to LC. -
Speaker 3Yeah. - When we get our second studio, that's when we really get, we'll get our own exit and all that, too. - Oh, yeah. - That's the start of one. Then we'll get to the big one. Yeah, then we're really good.
Speaker 2Yeah, I really got 85 South. Yeah, it's real in state Absolutely, but they need to have like 85 South exit. We like 85 South studio. I don't think I want to be there
Speaker 3that flagrant though You don't wanna be out there. No, I want you to have to be with somebody who know where it's at I'm like, yeah, it's right over there. Oh, yeah. No, you're on those.
Speaker 2Okay. Yeah, you got to be invited.
Speaker 1Yeah invitation only All right, that's the nation location exactly
Speaker 3Oh, yeah, it was like
Speaker 1that see you had to go to Minneapolis. He didn't want to be in Hollywood You had to go. You had to go out of your way. You went to me in that Of course, I've got offices in Minneapolis at the point. Oh, I'm saying praise the park print Paisley Park 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 Hollywood scene even when he changed his name that was a brilliant deal He changed name to a symbol that was not we thought it was artistry. That was about his electoral property rights Because his name Prince was tied up with his contracts.
Speaker 3The crazy part is he never named a symbol The symbol legal victory
Speaker 2Play basketball - yeah, good.
Speaker 3It was it was like that All right, what's this you like introduction so much? Welcome back to the Now DC we got a special guest in here with us today bird cuz this go this is the crazy part every time you come I don't never have no question. I don't even hear about the money I just want to sit back shut the hell up and really take some notes because you know what he's talking about You know, he got a new book out. That's already a New York Times bestseller. I knew our time USA Today But you would say today my man
Speaker 249 of them bitches
Speaker 3my bad whole 50 Last two niggas you get to be on a bestseller without hitting all the lists. You're on the list That's thing you use certification. I mean capitalism for all a black man Come on now. We're ready to get our money up this episode. None other. Uh, mr. John, who? Yes
Speaker 2Oh My real nigga go back to Bob If in to get real sit real close to the TV man, go ahead fuck up. No book out.
Speaker 3Get your notes together Shouldn't go to bed. Yeah, this is serious business right here. Come on take some notes, man. Try get some money on Yeah, he ain't talking about what he heard. He actually doing it, right? Exercising and look he didn't gave you the game in a whole book man. So make sure you go check that out. How you doing, brother?
Speaker 1You know, I I must tell you out of all the stuff that I that I do and Most of it is pretty forgettable. Like I you know, you do it, you know, but I don't think about it again I've thought about being with you guys. I think it was a year and a year and a half ago And it was one it was really like one of my most special Moments and it was so proud to see all these brothers in here trying to do it, right and and I'm honored 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 is all I'm so glad that Charlemagne put me together with Chad and everybody and you guys just you make you you're making smart sexy We've been making dumb sexy for way too long we've dumbed down and celebrated it and you make it smart sexy again, and I appreciate that and you're talking in a way that our community can relate and Put the information where they can get it so we can fly on that ladder and climb up. So I love that So let's get at it.
Speaker 3That's always been one of the goals It is platform man to make them laugh make them think 10, but you put them on some game
Speaker 2They say uh, the game is meant to be sold not told but I'm like But if you tell it you get people out the way and let them figure it out for yourself You said you're trying to sell a recipe that don't work. Yeah, that shit don't work Just tell it
Speaker 1I'm still focusing your $4 glasses.
Speaker 2Yeah, man You should saw me boy. I'm telling you man. So all the coverments I get who I like them, but you don't understand Amazon Get that free shipping. It gonna take a minute, but you pay
Speaker 1China today You guys and you guys have each other's back which is rich is you're 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 3It'd be good and one hater that I was doing it for the bunch. Yeah, we can't be 900 deep is always gonna be one month
Speaker 1One in your group if it's here, I I mean there's drama everywhere But when I was here for a half a day last time, it was harmony from the moment I hit the door come on the moment. I let nothing but positive energy and black man who are Who understood this one thing God gave you two ears and one mouth. Mm-hmm So you listen twice as much as you talk, right? And so when people hear somebody that makes sense they said they They as I'm who am I afraid they shut up and listen, right? Well, I hear somebody who knows stuff that I don't know I shut up and listen And so I just you know, just much much respect. Can I cannot can I drop a couple come on? I'm looking at this table because I was he was here before. Yeah, and I know this table is very symbolic for you guys It's in all your shows.
Speaker 3It's actually a new one. Is it? Yeah, we have my guy. He may remade it for us It's a black guy. We sent the other one so he can repair and we're gonna it's like you said piece of history, but
Speaker 1I'm putting that in your museum this new updated version.
Speaker 3Yeah, it was hot
Speaker 1It's not a table. What is This is negotiation point this is so I'm about to unpack capitalism. So in this example You're the consumer was your $4 glasses, right and you're the capitalist. Mm-hmm. All right. This is negotiating table. All right your job as the capitalist is to extract As much money as you can from him While giving him the least amount of value That's your job. Okay, got it Your job as a smart educated consumer cheap as you are tight tight tight your job Is to pay him the least amount possible I can do that while extracting the most value That's your job. Mm-hmm the tables job is to be the place where you come together for this negotiation and a good negotiation is what everybody leaves slightly annoyed Because that means nobody got everything they want it, right? So when you Are in Africa or you're in a third world country? It's an active negotiation. Yo, yo, I'll give you $20 for that No, no, no, I want you know, how about 15? How about you it's back and forth now you you're negotiating a price, but you're wasting time Mm-hmm. So poor people value price Above everything wealthy people value time. Mm-hmm above everything. So wealthy people want to save time. Mm-hmm When I was coming up folks would haggle over that dollar for half the damn day now Going back to this point When you have a good negotiation, everybody leaves slightly annoyed because no one actually won Mm-hmm 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 $10 from him while giving him those glasses and he's trying to pay you $2 While getting those glasses You're both doing your job. Mm-hmm You shouldn't be mad at him. Mm-hmm, and he shouldn't be mad at you. It's not personal. Mm-hmm At the end of the day you end up paying I guess $4 for the glasses. Mm-hmm. Maybe your cost on it was 250 So you Didn't make as much money as you want it But you still made enough to be able to buy to sell them though You sell enough of them you pay your cost and you earn a profit. That's the simplest Example I can give of of good negotiation now when you go to a store CVS Walgreens, whatever and you buy those glasses off the rack And it says $8.99 or the comb says $5.99 Researchers have already determined What you and I? Would be willing to pay for the cone. Mm-hmm. So the negotiation has been predetermined. Mm-hmm. They know that you're willing to pay instant By 99 whatever and pull that and by itself so so it's still the negotiating table. It's just the efficiency has been Predetermined already taken away. 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 Mm-hmm Did I
Speaker 2lose you a lot of people don't understand what socialism capitalism most people
Speaker 1don't buy the right So come and I break all this down in the book Communism is the state owning everything You can use it. You can use it, but you can't own it, but you can't own it the state owns and controls everything so the theoretical example of this is China in Russia I'm gonna come back to that to that, because that's a lot. Socialism People want to talk about the Nordic countries, Sweden, Norway, that's not Nordic, but yes, it's socialist-like, Finland. All right. Those are capitalist countries with a heavy taxing system. All socialism is is a capitalist country that overtaxes the system so that the poor are taken care of. So now you bought these glasses. He sold enough of those glasses to make a million dollars as a capitalist. The state, he now lives in Finland. The state says, well, we want $500,000, 50%. As a result of that, all of your and my cousins in this environment, their health care is taken care of, their roads, food, hospital. Help me. Help me out here. Sidewall. All that's free. All that's free. Now, that's a good thing. So there's no poor people, theoretically. All right. Theoretically. Here's a problem. 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 black people at the very top. Where they at? In the middle. They're stuck in the working class. In the middle class, just above, they're subsidized. They've been given everything, and they've been put to sleep. So they're just chilling. They're chilling. They're chilling. They're chilling. Now, in a capitalist system, and America is a capitalist system with socialist tendencies. Social security is a socialist tendency. Welfare, these programs that help people, somebody would say they're socialist tendencies. I think it's just dignity. 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. And if you don't do a good job, somebody else is going to put you out of business by selling better glasses. It's a free enterprise. It's a free enterprise system. Now, it's more brutal. You have winners. You have losers. So I went from one of the bottom 250 zip codes in America, Compton, California, South Central LA. In the time I saw you last, Forbes magazine says I'm one of the 250 greatest living self-made Americans. Not black. Not black. Not in 2026. On the 250th anniversary of America this year, and the 100th anniversary of Black History Month. Forbes magazine came out with a list of 250 greatest living self-made Americans, and if it had been any other kind of list, I'd have been honored, but self-made is a whole other thing. And they calculated the distance traveled from Compton, South Central, improbable, done legally now, up through and out the other side. Tyler Perry's on the list. Magic Johnson's on the list. I mean, it's a wonderful list. My friend, Oprah Winfrey's number one. By the way, the historic list of those who passed on, number one is Abraham Lincoln. You can't get this any better. Abraham Lincoln's on the historic list, number one. The new list, number one, Oprah Winfrey. That's us. Number 250 on the list is Martha Stewart. I'm 145. Up from nothing. Up from nothing. If I can do it, anybody can do it using the legal system. But if I was in Russia, China, France, Germany, Japan, almost anyplace else, I wouldn't have made it. Because that's a communist situation. Well, so let's go back to that. So even the communist situation's a lie. So what did I say about Russia and China? I said that was a lie, right? So they're communist countries, but they're using capitalism. Hmm, hmm. What's the TikTok? Mm-hmm. DJ, the DJ, it's DJI, I think it's the drone company. Mm-hmm, mm-hmm. Chinese. I mean, it's a huge, it's a complete capitalist system. The government is basically government-funded capitalism. So the government is backing businesses, and if they don't like you, then they silence you, they take you over. So, you know.
Speaker 3It's like, we can use capitalism, but y'all can't.
Speaker 1Mm-hmm. Or we. Well, 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 disappear. That's their form of capitalism. So there is no perfect in the world. I've been to 100 countries. There is no perfect. I was in Turks and Caicos yesterday. There is, in the Caribbean islands. I love, it's our people. There's no perfect. But this system has the capacity to take somebody from slavery to president of the United States of America who looks like us, Barack Obama. It has the capacity of taking somebody from. Yeah, yeah, yeah, yeah. the United States of America to president of the United States of America. So, sharecropping and slavery, which is Oprah's story and my story, my great, second great-grandparents were slaves. George Young fought in the Civil War, R.B. Smith, sharecropper, Alabama, to now, I own 40 acres with my wife in Fayetteville that was slave property. And Fayetteville County was an entire slave county. 90% of people who lived in Fayetteville were slaves in the 1800s. I bought intentionally. I bought. I bought. I bought. I bought. 16 acres. And then later on, when the white family next to me, they had a situation and somebody passed away and wanted to sell, I bought 27 acres next to me. You can't make this up. 40 acres and a mule. I got 40 acres and a sprinter van. Same thing. And in 1865, Civil War ended. I really shouldn't say this, but my address is 1856. 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 it working us is how we flip the script. And that's what you guys are doing in your own way. Let me just say this one last thing. I said I was going to be. I'm going to be disruptive tonight. I'm saying this to you. I mentioned it on a post I did this week, but I've never. I haven't said it to anybody publicly. One of the reasons I like you guys is that when I talk to you off camera, you really are smart. Like, you know your stuff. And 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. Everybody needs to laugh. It never goes out of style. In good times, it's great. In bad times, it's like oxygen. But every place but comedy. Being X is not enough. Being pretty is not enough. Having a big ass is not enough. Having a wig and manufactured body. Being smart is not enough. Just make it up. Whatever. Being cool is not enough. But if you look at. The generation of our people who've now. We're 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 you're handsome, if you're a genius, if you're a great athlete, that that's enough. It's not. 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. I cover all this in the book. And I can break that down if you want me to. First reconstruction, slavery, freedom. Second reconstruction, civil rights movement, access. Third reconstruction, now, 2024 through 2035, 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. You've got to own your own narrative. You've got to know who you are. If I don't like me, I'm not going to like you. If I don't feel good about me, I'm not going to feel good about you. Claire Hayden. If I don't respect me, don't expect me to respect you. If I don't have a purpose in my life, I'll make your life a living hell. Whatever goes around, comes 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. It was won for us. Second reconstruction. Ambassador Young, I just spoke to him today. Last living lieutenant for Dr. Martin Luther King Jr. 94 years young. We see these people in Atlanta, and we take it for granted. Seeing Andrew Young is 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. It's like my wife calls Atlanta Wakanda. Like, it's unbelievable. And the city economy is the same size as Singapore, man. 580. billion dollars a year and you're part of it and it's black well it's it's diverse but it's run and led largely by people of color there's no place in the world that this exists so 187 billion 580 billion a year in gdp which is greater atlanta the same size as the country singapore not the state of georgia 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 state of georgia absent the city of atlanta greater atlanta all inside of the economy of atlanta and atlanta is still bigger that's how amazing what we have done is hold on i'm gonna
Speaker 3say it one more time for the people for the people i know watching this show this it's a lot of we got a lot of we got the whole hood watching this bro you heard that great atlanta 580 billion don't say ain't no money out here man
Speaker 1busiest airport in the world in the world the largest internet 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 folks too busy to hate we picked up a business plan that really birmingham alabama should have birmingham alabama should have the airport montgomery i mean the birmingham alabama birmingham alabama was the industrial base for the for the whole south that's where the railroads went through this was still was manufactured it named after birmingham england they were bigger population more sophisticated 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 i want to say something else shit stupid shit I'll be your customer. I appreciate that. Be my translator. 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 Memphis, Tennessee. Great black mayor there now. I love Birmingham, Alabama. I love Montgomery, Alabama. But if you go to those places, with all due respect, they look largely the way they looked in 1960. You with me? Yeah. But take a photo of Dr. King going through the airport in Memphis, Tennessee when he was assassinated. If you go to that airport right now, it looks exactly the same. If you snap the photo of where he was when he got in the car outside. And Atlanta's been rebuilt and rehabilitated. Reimagined and revitalized and remodeled, I don't know, 30 times. I'm an investor in, I'm jumping around here. I hope that's okay. I'm sorry. I just feel at home. I'm an investor with Tony Ressler. This is three billionaires from the same family. Just the same Jewish family. Richard Ressler, Tony Ressler, and their sister. Each one of them are worth $12 billion, $15 billion, and $12 billion each from a middle-class Jewish family. Whatever they were drinking, I want some of it. Two of them, of the three members of that family, own the Atlanta Hawks. That's my former business partner, Tony Ressler. And on across the street, what's now called Centennial Yards. That's Richard Ressler. I'm an investor. I'm a partner with Tony Ressler. That was a Promise 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. When you say Centennial Yards, what the heck is she saying? Six billion dollars. What does this do? We built a downtown. Atlanta had no downtown. It had a midtown, and then it had a Beverly Hills, which is Buckhead. 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 went from midtown, and you just went up to Buckhead. Now, we just snuck up on you. There's a 50-acre development. There used to be a hole in it. There was a hole in the ground. It used to be called the Gulch. That was, by the way, the railroad line that Andrew Young rode the bus in on when he met Dr. King in the '60s. That was also the railway line that the Union Army busted up the Confederates on in 1865, and that battle stopped the Civil War. Without the Battle of Atlanta, Lincoln would not have gotten re-elected two weeks later, and the war wouldn't have ended, and America would be different. 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 you would 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 what was Midtown, upper Midtown. I call it Town Square. You'll see the Phoenix Hotel. Boom. It's beautiful. You'll see. It's like Cosmo, which is like the Sphere in Las Vegas, but it's basically, you can watch an F1 match, F1 game, or you can watch a soccer game, whatever, as if you're watching it, but you're in the bleachers, but you feel like you're at the event. Live Nation, put an 85-seat theater. That's under construction, right? 85. 85. Exactly. We'll be in there. There you go. Bunch of restaurants, entertainment, clubs, Virgin Group is putting a new hotel there. This is all across the street from the State Farm Arena and Mercedes-Benz Stadium. I'm doing affordable housing, I hope, right behind there. Right across the street by Vine City and all that? Y'all took all that property over there? No, we're just on the 50 acres inside the coach. We're just literally inside where the hole was. Okay. It took 700 million. This is gangster. It took $700 million. It took $700 million to just bring it to street level. What you mean? To fill up the hole? Just to fill up the hole, which still has trains operating, so you can build a city. It cost $700 million. Above. Just to bring it to street level. That's why nothing's been happening at the coach. But this is the magic of Atlanta. What I'm telling you, this is not happening anywhere in the South. Nowhere. Nowhere. Even Nashville. It's a minor version of what's been done here. You guys have created magic, and it's at risk for this reason. We thought we won. We're all walking around like we're chilling. Everybody's on Instagram like they won something. What you win? What you win? Dr. King and Andrew Young and Credit Scott King and Dorothy Height and all these heroes and sheroes got Kennedy, Johnson, and Honorary President King to pass 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 rights you already had in the 1800s. That's a whole 'nother conversation. But they created these laws. As a result of that, you now have affirmative action, you had DEI, you have set aside contracts at the airport, set aside contracts, you had them, with the federal government, building wealth and opportunity, access to education, HBCUs. Jobs and contracts, access to corporate jobs, basically the creation of the middle class. So we were able to cash the check, but we weren't writing it. And when we were writing it, it's because somebody gave us a right to it. Follow me. We have the right to vote. We have the right to have access to a facility. We have a right to an education, a right to contracts. But in an instant, we're not going to be able to have access to a facility. But in an instant, we're not going to have access to a facility. But in an instant, when somebody came along and decided, you know what? Take that away. I'm tired of all this. And convinced through marketing, brilliant marketing, I've got to give them credit, convinced the public that somehow this was a reverse discrimination. You've seen while we are, since I've seen you last, Supreme Court just struck down something we thought would never be struck down, voting rights. DEI. We argued over this. But the whole infrastructure of what we thought was assured, and we took for granted. We didn't go vote. A lot of black folks stayed at home. Not my problem. Whatever that stupid description is. It's your problem now. Because last year, 300,000 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. We didn't have control of actually anything. Right. We didn't win. It was won for us. You follow me? Mm-hmm. Somebody said, just kidding. You're on your own. Then, now you're faced with brutal capitalism. may not be friendly to you and here comes artificial intelligence hunting your ass from around the corner and we chillin so how we survive we've been doing so much with so little for so long we can almost do anything with nothing where the rules are published and the plane throws level we kill it professional sports we killed it uh i can't remember the name of the athlete but it was i think it was 1939 olympic games in germany jesse oh jesse owens he won he won those medals and hitler was so upset because he said you know they were the only race whatever master race and uh we kicked their rear end playing by the rules he got up and left hitler got up with all his boys they couldn't take
Speaker 3it because the guy was too dignified yeah jesse was winning everything jesse was winning he just won the sprint jesse won long jump like all kind of shit and he didn't curse his brother won uh some medals too they don't never that's right brother
Speaker 1but but but he won he won by being smart and being talented and applying his gifts and hitler couldn't take it and walked out at the end of the day hitler four five years later was dead and and and owens is still an icon in the world light always wins because darkness is defined by light not the other way around badness is failed goodness and the devil is a punk lucifer's a punk because god he's a fallen angel and god gives him permission to exist he ain't shit 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 short-term uh immediate gratification that attracts us but when we come back to our core we're speaking about the truth and we're speaking about the truth and we're speaking about the truth spiritual people and you know the first person walk face a walk upright in the world with intelligence was a black woman i don't know if you know that all dna in the world comes from us don't don't trust me look it up for yourself the only word the only word that includes the only color that includes every other color is black and
Speaker 3black women the only one with the eve gene he might his brother
Speaker 1historian here but let me slow this down i'm gonna say this again i don't know if you heard i don't know i need you to understand what i just said this is not i'm not making a racial comment here because people won't 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 i like math it doesn't have an opinion the only color this is science that includes every other color is 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 the world is five billion years old organism life four billion years old neanderthal life 200 million years old modern modern homo sapiens 200 000 years old modern enlightenment 6 000 years old 3 000 years since jesus so where did racial word white come from jamestown virginia in 1620s because a traitor of goods and services were using whites and black endangered servants together they were both indentured servants poor whites and poor blacks when blacks and whites ran away together i think i put this in the book when they ran away together and they were caught because they didn't like how they were treated they were caught their friends the overseer came back and said boss we got a problem they get along they're 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 outnumbered they're runovers so they took the poor whites and they said you know you white like us don't you this had never been uttered before in history you had white royal members of the royal party a royal family you had right you i'm sorry not black you had black members of the royal family you had black industrialists you you you had black you had black people in power going back thousands of years tens of thousands of years you , he told this guy you're white like us now you're in charge of them i'm going to give you two more years running away i'm going 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 the white white white europeans were slaves this is i'm getting too deep i'm just saying this is a game so for 400 years we've been arguing by the way the the biggest group of poor people in this country poor whites hello again the biggest group of poor people in america are poor whites now i'm
Speaker 2gonna eat some chicken to that now here's what's my point
Speaker 1for anybody watching this going john don't get it this is all about racism and the white man okay they created this slow your roll for a minute so if this is true why didn't the rich white people come back and get the poor white people and say, y'all coming with us 400 years ago. What, what, did I miss something? Because Dr. King was assassinated in 68 with the Poor People's Campaign trying to help all poor people, including poor whites. That's one of the reasons he was taken out before he ever got to Washington, D.C. So if this is racial only, yes, racism exists. Be clear about that. But if this is, I think it's really class disguised as, I think it's really about class, money, and power. Racism is an interesting, wonderful distraction. I guess it's all a point. If this was really just about race, if race is everything, why, somebody explain 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. That did not happen.
Speaker 3Well, if you can convince the poorest white man that he's still better than the black man,
Speaker 2he won't, in his head, mentally, he don't give a fuck where he at.
Speaker 1Because there's no critical thinking. There was no critical thinking with the poor whites. He didn't say, am I wealthy like you? Do I have titles 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. Not them, but his friends. But this changes things. They're still playing that game. Even when you see the election and Trump, they get to the poor whites, and they all vote for him. They're the first ones to complain about voting for him. 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, it appears they ride at the ballot box. It's still rioting. Let me tell you something. When you go to a 500-credit-score neighborhood, let's just level the playing field. Think about a poor black neighborhood, and I want you to think about now about a poor white rural neighborhood. You tell me if I'm wrong. Here's what you see. They hide them. Check casher. Petty loan lender. Uh-huh. Rental. The own store.
Speaker 3Dollar tree. Family dollar. Check us. Liquor store. Yeah. Pawn shop.
Speaker 2Am I lying? Nah, gas station. Like, we just can't get gas from him or him. Him, him, him, him, him, him.
Speaker 1Am I lying?
Speaker 2Same shit. Same shit.
Speaker 1Poor white neighborhood. Poor black neighborhood. And by the way, and I lay it on this book, I map every zip code in America by credit score. You live to 61 years old in a 500-credit-score neighborhood. Mm. Damn. 15 minutes away from every 500-credit-score urban neighborhood is a 700-credit-score neighborhood. You live to 81 years of age in a 700-credit-score neighborhood. I'm gonna make this really plain for our viewers. You're in Chicago. You live in Garfield Park. I don't know if anybody here knows where Garfield Park is. It's the hood. You live to 61 years of age on average. You don't even get to Social Security. You get on the freeway and you go to Lincoln Park. Which is 15 minutes away on the freeway in Chicago. You live in that neighborhood to 90 years old. What else has changed but economics? So when you're living in a 500-credit-score neighborhood, you're stressed out. You got too much money at the end of your money. It's single-parent households. It's no financial services. It's low credit score, high cost of living. You fall dead. Hypertension, diabetes, stroke. Black-on-black crime. Poverty-on-poverty crime. The three groups that didn't get the memo in this country, African-Americans, poor whites, and Native American Indians. What's the number one group dropping dead in America? Poor white men dying of opioid addiction. Depression, essentially. What's going on with Native American Indians? Alcohol. Depression. I'm going to say something. You're not going to like it. I think that 70% of black people. As brilliant as we are, clinically undiagnosed depressed. Explains so much. We wake up in the morning on 9. And PTSD. And PTSD. Now, 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 a 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. Am I boring you guys? They kept your family. It was a nuclear family. If you were a slave in the Caribbean. 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 once you get out of that, now the mayor looks like you. The dentist looks like you. The robber looks like you. Everybody from the top to the bottom looks like you. So your self-esteem is higher. You follow me? Your confidence is lower because you're in a second or third world country economically. America, brutal capitalism. Sell your kids off so you have no hope. Hold your wife down in a brutalizer. Hold you down while they brutalize your wife so you as the provider and the caregiver, you can't protect her. You lose your self-esteem. You lose your sense of male identity. You're emasculated. 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 the way from Africa here to do this to us? Is it personal? Please listen to me. No one brought you all the way from Africa because they don't like you. Why? Because we were agricultural geniuses. Who asked this? We were agricultural geniuses. Agricultural geniuses in an age when the gold was cotton and tobacco. Please hear me. Where was that crop best fertilized?
Speaker 3In the South.
Speaker 1In the South and in the Caribbean and in Latin America. By the way, the second president of Mexico in 1820s was mulatto of African descent. That's a whole other story. Slavery was outlawed in Mexico because it was for 40 years before it was outlawed in the United States. Back to the story. So, African Americans, our self-esteem was destroyed intentionally, so we wouldn't fight back. But they needed people who could take dead soil, Africa, under harsh heated conditions and bring it back to life. That's what we did. You know where Wall Street, rhetorical question, I'm going to give you the answer. Where did Wall Street start? In New York. Montgomery, Alabama. Lehman Brothers was born in Montgomery, Alabama. Don't trust me. Look it up yourself. Why? Because that's where the slaves were. That's where the slave trade. Alabama and Mississippi had more millionaires in the 1850s than anywhere in America. The richest city in the world in 1840 was not just Mississippi. In the world. Yeah. In the rules of public and plain blues level, once again, we kill it. Professional sports. The arts. Politics. From slavery to president of the United States of America. Faith. I just talked to Bishop T.D. Jakes yesterday. The biggest, I mean, he's basically the black pope. I mean, he built a global empire from West Virginia, which is where he was born. I'm trying to think of another group, another thing that we've killed again. But, I mean, that's for example. Everywhere. But not capitalism. Not free enterprise. And what's my point? This country is built on capitalism and free enterprise. The whole world is built on capitalism and free enterprise. So for us to argue and spend valuable time debating about whether we like capitalism or not is rearranging the deck chairs in the damn Titanic. The ship is sinking and we're picking drapes. And I don't know 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 hoodwinked. We've been run amok. 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. They just told you, you're on your own. Have I missed something? I'm talking to everybody here. It's not a good feeling, is it? For somebody else to be in control. You're in control of your destiny. Every other group disengaged from the government and went into 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. But this is probably 50 years too late. And this president has done something that hasn't ever been done since 1960. He unified black people. We all have won a court now. We're like, what are we going to do? That's what you said. What are we going to do? And what I think we do is this. God is on the throne. Why do I believe that? In 1952, America was 90% white. So that means what Dr. King and everybody did was nothing less than genius. That was just moral authority. 70% of black people flipped the whole country. 70 employees, Dr. King had. Today, African Americans and Latino minorities are 40% of this country. Within 10 years, we'll be a majority of minorities. The economy today is 20% immigrant. The GDP of America is $30 trillion. 20% 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 1972, a white, blue-eyed, blonde-haired woman, wealthy, could not get a bank account in America. No woman could. It was against the law.
Speaker 3Or a credit card.
Speaker 1Couldn't get a credit card. 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 what I said about the Second Reconstruction. Black America pushed this country to live up to its potential, to its Constitution, its Bill of Rights, that happened here in Atlanta. The Civil Rights Movement. 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. And here comes the honorary president, King. Some people thought they went too far. They killed them physically. Kennedy, Kennedy, Malcolm X, Martin, a whole list of other players just taken off the scene. Politically killed by going from Kennedy and Johnson to Nixon. Total opposite. By the way, it happens every Reconstruction. First Reconstruction, Lincoln gets assassinated. The reaction was President Johnson, who was his vice president, who was a Southern segregationist. is. That's why he pulled all federal troops out of the South. Stop Reconstruction. They told him that
Speaker 2if it's for you to win, this is what you got to do first.
Speaker 1So, look at what's happening now. Don't name names. You're going from Obama to something else. Reaction here, overreaction here. George Floyd's murder, 2000. You're living through history. If you were black in 2021 and walking down the street somebody would have given you a check. There was a year period where money was just flowing. Am I talking to myself? Money was just flowing to anybody black. If you were in 2021 by 2023 anti-woke and whatever. Reaction. Some people thought gone too far. By the way, I think we took it too far. I think we pout 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 right now. So, you're sitting in a moment in history right now. But history does not feel historic when you're sitting in it. It just feels like another day. It's the third reconstruction. 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 and affirmative action, we didn't get the affirmative 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. Latina women got it. Asian women got it. Today, women are a third of the U.S. economy. Women are $8 to $10 trillion or $30 trillion a year. That wouldn't have happened if they didn't get the rights that we teed up in the 70s. So, bring that story to present. Citigroup put in the report here that discrimination against blacks alone between 2000 and 2020 cost the U.S. economy $16 trillion. Not Asians, not Latinos, not slavery, not civil rights movement. 20 years! Between 2000 and 2020 Citigroup, not NAACP, not La Raza, not some liberal group. Citigroup calculated cost economy $16 trillion dollars, and they just knock it off, we'll get a trillion dollars a year. 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. 90% of the GDP, the economic activity for this country, are in cities. I mean, what I love about this is, it's just math. This country can't survive without black people. That's really what I'm telling you. - That's what it all boils down to. - This is all God. This country cannot, I want every white, college-educated, successful white man to be hugely successful because my success is tied to his in a free economy. There's not enough of them. There's not enough college-educated, There's not enough college-educated, There's not enough college-educated white men that drive GDP, gross domestic product, the income of the country, for the next 20 years. If we don't include other people in this, within 20 years, we'll all be speaking Mandarin. You know what Mandarin is? - Yeah. - Chinese. - Chinese. Now, I'm gonna give you a drop the mic that's gonna spin your head. Now, let's stay up until now. You're like, "This all sounds good, "but John don't have me yet." Okay, check this out. In the next 10 years, there's gonna be a wealth transfer of 88 to 100 trillion dollars. Every day, 10,000 baby boomers, read white, wealthy, 65 years of age, looking to go play golf, retire, and leave the economy every day. I'm gonna say this one more time. Not every month, not every week, every day. Every day, 10,000 baby boomers leave the US economy. There's more people over 65 than under age 18. It's never happened before. By 2034, they'll all be gone. The money's getting transferred, by the way, that 88 to 100 trillion, to wives, husbands, childrens, nieces, nephews, and stocks, bonds, homes, cash, have I missed something? Businesses, now, nobody wants the businesses. It's too much damn work. Please hear me, black people, brown people, please hear me. There's nothing wrong with these businesses. These are seven-figure dentist's offices, seven-figure lumber offices. Help me out here. - We can buy 'em. -
Speaker 2Laundromats. - Laundromats. - We can buy 'em. - Gas stations. Help me out here. -
Speaker 1Car wash. - Car washes. - By the beard. - Nail salons. - Nails salons. - Help me out here. Think about what's in your neighborhood. Think about it. Medical offices. These are all businesses, people. No one's cutting your hair for free. They like you. Your buddy likes you, but he wants to be paid. That's a capitalist. I said earlier, people are like, "Oh, I'm not a capitalist." You're not going to work for free. If you're going to work and somebody's giving you a paycheck, you're using your human capital and you're exchanging it for a financial. If you're paying a cardinal, you're engaging in? -
Speaker 2Capitalism. - Capitalism. - For sure. -
Speaker 1If you're paying a cardinal, you're engaging in? - Capitalism. - You're paying rent? Or you're buying a house? -
Speaker 3Capitalism. - I mean, knock it off. - And if you live with somebody, that's socialism, especially if you're not paying no bills. - And that's beneficialism. -
Speaker 2Marshall, if you want to live with somebody,
Speaker 3you got to learn to make two salads. - And that's pleasureism. - If you're not on the, you don't get no damn two salads. -
Speaker 2Because you lied and said you were going to give me some money, so that's pleasureism. -
Speaker 1You're getting me off my soapbox. Look, if we just buy, I said 15 trillion of businesses, which have real estate, have client lists, have brand names in their city. Let's stop, let's knock it off of going to New York and LA. The money's already made. Go to Columbus, Georgia. Go to these second tier cities where there's no competition for brilliant people like you. And go by the dentist's office, it's got three locations or four barbershops, you know it. Your hair ain't going out of style. Go find, go buy the three hair business, the three hair weed businesses. The guy is trying to retire. Get half of the purchase price is bank finance because it's the cash flow from the business. They'll do seller financing, probably for 40% of that, and you raise 10% of it in what's called a GoFundMe friends round, but if you buy a million dollar business with cash flow and real estate, it's easy to find investors. - Is businessforsell.com a good website? - No, I wouldn't do that. 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. But my point is, if we just buy a trillion dollars of that, man, I say 15 trillion, just buy less than 10% over the next 10 years, our net worth of black people is scheduled to be zero by 2053 if we do nothing, yes. If we do nothing but chill, what we're doing right now, our net worth is scheduled to be, as a race of people, nothing. - Zero. - 2053, zero. - We own nothing. - And it's getting worse. We have the lowest credit score in America. I'm just talking real talk. We have a 44% 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 capitalism. -
Speaker 2I got a question. - Yes, sir. - So from this point, from knowing all those facts, how do we get, say for example, we got a community that said, all right, Jay, I hear you. We fucked up back then and we want to unlock-- We want to unlearn all the shit we learned. In this condition, how do we grow in the next 10 years so them statistics don't work? - In the book, I have a business plan for black America. - God damn it, we got to read the book. -
Speaker 1Read the damn book is what he's saying. - I was waiting for somebody to talk shit to me about John, you know, you keep talking about the same. Where's the solution? I wrote the damn solution. I wrote it for black people. I wrote one for women. I wrote one for white people. I wrote one for rural people. I wrote one for Asians. I got every group. I wrote Native American, Indians, Africans. Now, here's the black-- -
Speaker 3Before you go, I want to ask you this. Who financed the civil rights movement? -
Speaker 1It was-- - J.P. Moore? - That's a great question. Okay, the civil rights movement was financed in part by Jews. - Slaves, I'm sure. - Black businesses, like H.J. Russell and others, but people don't know that the Jewish brothers and sisters actually helped with the civil rights movement. SDLC, I'm sorry, the, yeah, SDLC was actually not a legal non-profit. It was actually run out of a legal office in New York. It was a Jewish lawyer there who quietly funded Dr. King's movement, and that's a whole other-- -
Speaker 2We got allies now, don't get it wrong.
Speaker 1We got allies. - Many of which we're treating pretty badly, but that's a whole other story. Folks love seeing us arguing with each other, and I mean, if, look, don't get me into this. Let me say, focus on the question that you put in front of me. What do we do? - How do we get there? - Okay, let me try and make this real, I'm gonna take this and make this real, let me play, please hear me. Get our credit score up 70 points, from 620-- - 700. - To 700, so I guess 80 points. -
Speaker 2How do we do that? I done fucked up my bank account, I done fucked up. -
Speaker 1So you come to Operation Hope, if somebody would tow up credit, doesn't check the credit, that's what I know. You come to Operation Hope, which our services are free, 'cause I raise $100 million a year, so that you don't have to pay for our service. I have offices in 42 states, I have 400 employees. You come, and we say, what should, what's that on your credit report? You say, I don't know. Great, that's called an error. So we say, this is financial literacy, which I think is a civil rights issue of this generation. We're gonna write, you and me, we're gonna write a letter to the credit bureaus. People think that TransUnion, Equifax, and Experian, the credit bureaus, are the devil. No, they're repositories, they're data, they're passive data repositories, which is a fancy way of saying, it's 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 a storage unit for data. Now, they're not responsible for what's in the storage unit. They're just holding it. You're responsible for making sure that your shit, excuse me, your stuff in the storage union is properly accounted for. But that'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 30 days, they must remove it. And 90% of the time-- -
Speaker 2I need to write him a letter. That ain't my Sprint. I don't know who had that. -
Speaker 1Well, that's good for 30 or 40 points. - Operation Hope. - Operation Hope does that. - Operation Hope. - So now, let's say you were at 620. So now, you got popped 30 points. You're at? - 650. - 650, what happens to your self-esteem? - Oh, I'm feeling good. - Go up 30 points. Straighten up a little bit. - 70, no, we're not at 30 points. Well, you know my shit, that's 50. - You're like, okay, wait a minute. - I'm about to get four houses. - You're like, okay, I'm in. You're like, I'm in the game. So then we say, okay, what's that other thing? Oh, you know, I got a divorce, and it was 10 years ago, and they ran the phone bill up, and I don't have a thousand dollars. -
Speaker 3You got another letter? - Nope. - No, you gotta call them and then ask for a settlement. - No, hold on.
Speaker 1You're both right, but hold on. Slow it down. So we say, look, slow down. That was Pac Bell. Pac Bell sold to SBC. SBC sold to AT&T. - So all over y'all shit. chasing you and calling you. You ain't answering no damn 1-800 number in 10 years. They sold it. They got tired of chasing you. They sold it to Joe's Finance Company. How do I know? It's in the notes. Let's call Joe's Finance Company. You're my sister says, I don't have I told you I don't have $1,000. We said, look, shut up. I didn't ask you for $1,000. I asked you. Shut up and listen. Let's call because I know that they didn't spend $1,000 for it. They've been chasing you for 10 years is called bad debt, right? It's been five cents on the dollar. They bought it for 50 bucks. Joe won 150. Joe wants 100. Joe wants to double his money. So let's call and Joe says, I got Joanne here with me. We're looking for Joanne. She's looking for you. Right. We want to pay you off. We want $100. First of all, lower your breath. I'm 10. I gave you 75. How about we give you $200? Huh? First of all, changing the whole psychology all the time. Why would you pay me double? Because if I pay you double and I want your name and 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 at me. Tell them what a good job you did. And I want his or her phone number so I can reach them later. And I want in writing to show them what you did a good job. And I'm going to give you double the profit that if and when this shows back up on her credit report, you're going to remove it until it stops showing up. Can I get that agreement? Yes. Great. She got an 80% discount. You got a 200% profit.
Speaker 2Go back to what we said earlier in the beginning.
Speaker 1Negotiation. Fair changes, no robbery. Everybody leaves slightly annoyed. Everybody wants. Now, you solve a charge off. That's 40 points. So where are you at now? 690. Now you're right near the promise. Now we look at your budget. You say, well, I don't make a lot of money. I didn't ask you that. You make $38,000 a year. You got three children. You ever heard of EITC? What's that? Congratulations. Earned income tax credit. If you make $38,000 a year, you got three kids, the government owes you a check for $7,500. It's a reward for, it's a bonus for working. And if you never file, it's retroactive for three years.
Speaker 3What do you mean you get back? You can go back three years to file it.
Speaker 1So whatever you qualify for, you get three years of it if you never file. And one out of four Americans who qualify for EITC never ask for it. Read Black People. That's about $20 billion a year we leave on the table. 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 going to get you a Keurig machine. Because that's $3,000 a year.
Speaker 3Exactly. I'm smoking
Speaker 1cigarettes. Well, that's another $3,000 a year. That's $6,000. That's, sorry, excuse me for cursing. That's almost. No, you got mad on that one. That's 15%. You don't like cigarettes. That's almost 20% of your income. Yeah, the box said this shit's going to kill you. Right. The box says it. I'm just sick and tired of being sick and tired. I'm sorry. And so, we just stopped the. I'm just going to say it's a French word. We just stopped the stupid shit and just get right. We just need to do the basic shit. We're just not doing the basic shit. So, you get your credit score to $700. That's $750 billion of net worth in 10 years. I'm answering your question. We can do that ourselves. Now, you take the $750 credit score. So, you take the $700 credit score. You go to the bank. The bank don't make money unless they make a loan. Oh, the bank won't make me a loan. Not if you have a $500 credit score. I'm not making you a loan at $500. It's a bad credit score. So, you go there and now you get a loan to become a homeowner. That's worth $800 billion to go from 44% homeownership to 62% homeownership for black people. 75% is what white people have of homeownership. And the whole tax policy is around homeownership. You write off every mortgage payment. You get it back in a tax refund. You write off the depreciation's free. What was I talking about? I told you. It's free. It's tax free. So, how do you do that if, say, somebody got
Speaker 2a $750 credit score, but their income only like $40,000 a year. What type of loan are they even expecting? So, first of all,
Speaker 1if you go and buy in Columbus, Georgia, go buy in a modest city for a $100,000 house, you can qualify with a $40,000 income to buy a house. You might be in the wrong area. Stop trying to buy a mini-mansion when you're a postal worker. I mean, it's ridiculous. You're in the wrong area. Go where the puck is going. When I moved to Atlanta in 2009, there were not smartphones. I had a smartphone, and I was texting. Most people were not texting in 2009. There were not sidewalks. They had their palm. They had their Blackberry. Yeah, they had their Blackberry. I had an Apple. But, and I got, I went to the state, and I registered a license plate that said entrepreneur. Now, it may not make sense 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 30 years ago in New York, and 40 years ago in New York, in California. 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, I'm in the promised land. I'm going to run it up. I got a plan. Nobody else has. I'm going to, and I went and bought 700 homes between 2016 and 2021. I bought 700 homes worth $160 million. I bought them for $88,000 each. I sold them for $350,000.
Speaker 3Go back to your theory. I don't think they was here when you said you go to buy the ugliest house in the nice neighborhood.
Speaker 1Buy the worst house in the best block. Hood adjacent. Hood adjacent. Buy it, rehab it, and rent it. Buy it, rehab it, and live in it. Wait for three or four years. Pull out modest equity. Buy another house with a home equity line of credit. Do not sell the house. They're not growing any more land. Everybody I know who sold a house regrets it. Everybody I know who sold that house 10 years later, like, thank you! Because they look at the value now and it goes nothing but up. Let's come back to, I want to finish answering your question. So I mentioned, so now we are at $700 billion, $800 billion for a credit score, $800 billion, $850 billion for home ownership, so now we're at $1.6 trillion. And if we buy $1 trillion of the businesses, that's $2.6 trillion. And AI, you'll be able to start a million dollar business for $50 with artificial intelligence. That's another trillion in 10 years. At $3.6 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, and they're trying to keep you distracted from the facts every day. Clean your credit score. Do what you can control. Take care of your kids. Volunteer in your local school. Take care of your credit score. Do something. I mean, damn, I'm just tired. That's why I said earlier, I'm just so tired of going to my comment section of Instagram. That's where I comment mostly. You know, I get, every week I get 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-nothing person wants to argue with me about success. Shut your ass up!
Speaker 2Shut up! Shut up and listen! No, I'm gonna say it. Shut your bitch ass up, man. Shut the fuck up, man. You don't know what you're talking about, man. Don't you see the man
Speaker 1about business? God damn, get your credit score right. When I'm around Ambassador Young, and I'm talking about civil rights, a range of issues, I shut up and listen, man. He'll talk for an hour. I'm just ear-hustling. He's an icon. He's done it. I haven't. He's got his scars. He's got his stripes. I'm hustling. I'm listening. When Tony Ressler and my billionaire friends talking, I'm listening. That's the first person who told me you make money during the day, you build wealth in your sleep. Now that's one for you. Make money during the day, you only build wealth in your sleep. When Bishop T.D. Jakes talks about faith, I shut up and listen. When T.I. was telling me about how to produce an album or whatever, I'm shutting up and listening. That's what they do. I can go on and on and on. But when I'm talking to you about financial literacy and free enterprise and capitalism and business, shut the fuck up and listen. Why are you arguing with me? You ain't done shit. Have you had a $100 million credit line? I have. You got a $200 million loan on a deal you did? I have. You directed $5 billion worth of capital? I have. So if you have not done a nine-figure transaction or you don't have two fingers in your pocket, shut
Speaker 3up. Tell me about that. How you do that? What you have to do when you show up?
Speaker 1Just start off small with the $100 million loan. I talked on the way here, by the way. I did something stupid. I don't want to talk about it right now. 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 signed, which shows you everybody makes mistakes. I signed a personal guarantee to something because I trusted somebody. That's now going to cost me $1.6 million. But the blessing is that I can afford to do that without blinking. I will pay it. I made the mistake. I can't blame the white man or the system. No, no, no, no. My dumb ass signed it. - I got ahead of you still. 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 but it's a lesson well in this situation it just takes a great transaction and turns it into a very good transaction but it's a lesson that that education of 1.6 million which i can afford to pay i will never make that mistake ever again so what
Speaker 2lesson did you learn from it though i know i mean i understand the money slow
Speaker 1down shit but business is never personal so slow down right 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 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 being a little cheap probably i should have sent that to my attorney but i'm like i don't need to send this to my attorney that's what 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 they should just got a consultant fee so so this was this was a slow-moving train wreck i saw it coming if the signals were all there all i had to do was send it to my attorney he said john you can't sign this this way let me restructure it for you there'd have been some the table everybody leaves slightly annoyed annoyed they would have worked it out but my dumb ass was like no i trust you it's all good
Speaker 3business ain't
Speaker 1personal don't trust
Speaker 3nobody if it's business now dc that's what i was gonna ask you you want to go sign up at the hope academy because i talked to him and i told him when i got off tour remember i told you he's about to go on tour when i got off tour i already talked to his people that i wanted to go through the through the hope academy this whole process
Speaker 1yeah okay shit by the way those the same situation i just mentioned you they owe me eight million dollars so ultimately net net net oh even in that situation i'll be fine but but i'm success all money is
Speaker 2this freedom financial
Speaker 1freedom i paid uh i paid a i paid a uh seven figure tax bill before i paid a i paid a huge tax bill to the state of georgia i mean i think i think it was nine hundred thousand dollars before and now i'll have to pay at some point i'll i'll have to pay this this this grad school education all right 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 got 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 ride it and you're good to go to the next occasion and you never have 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 i can't be upset about that i mean the god to come from nothing and 1.6 don't bother me right as a write-off come on i love paying taxes that mean i made money money don't in other words we got it twisted don't avoid the tax man he's coming for you i'd rather owe my mama than the irs they are coming for you and then compounding there's nothing more gangster than the irs and that compounding interest of 30 or 40 percent no no no no no just just that's your consider the irs your partner again to them just give them this cut that's your partner in business and they they fund in the schools if you want to feel better about it they fund in the police they fund in uh ambulance service and hospitals and if you want to feel good about it think about what
Speaker 2the government is doing when you pay property taxes you funding the police and all that so when property taxes you funding the
Speaker 1police all these taxes are funding the infrastructure so it's a partnership you 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 30 letters to get those potholes fixed from the air from the oh yeah oh and they did it by the way from the freeway to my house you gonna fix every pothole if i'm paying this money now it's personal put a little cement right here i don't want rocks nobody washes cars ownership matters nobody washes rental cars you'd be the nicest person on the planet you rent a car you drive for two weeks come on you don't run it through the car wash hell no you don't even fill it back up no drop it off you drive it to drop it to the owner you drive down the street you tell which which houses are rentals
Speaker 3grass ain't grass up
Speaker 1to your eyeballs mailbox crooked
Speaker 3fence don't close i don't know what you're talking about i don't know what you're talking about i don't
Speaker 1remember the first house we own 15502 15502 south fraley avenue in compton california i think it was 90221 and i didn't even own it 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 your rental address it's not yours 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 ings right drugging drinking deal you know uh uh uh sexting texting shopping not dealing there's probably a bunch of other ings everything in balance is cool you gotta keep fucking on the table i got the
Speaker 4paper dude you're gonna leave smoking they
Speaker 2gotta do some
Speaker 4smoking
Speaker 1all things in balance alcohol in balance will lower your blood pressure right um drugs in balance are prescribed i mean everything in balance sleep in balance gives you rejuvenation for life for sure in balance what we the but the ing we need is healing because it literally an addiction is a response to an emotion you can't handle an addiction is a response to an emotion you can't handle so you're burying yourself in some shit and you can't avoid the reality of the real shit and that's how they get us because that's when you go back to the hood you see the check cash in the in the in the rental stores the payday lenders and the all the short-termism liquor store the the the fast food restaurants is dopamine it's instant
Speaker 3gratification to put you to sleep now this what if we were going to ask you with me in dc we were talking about this like you y'all got me worked up i ain't had no coffee this is what my question was
Speaker 2saying you were dead you don't
Speaker 3need 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 and stuff like that like we know a lot of our peers who in the space where they have taken the first three steps they got the 700 credit score and when they got the house loan now they got the property they don't know the next step yeah what's the next step for those people who who like i said who on step three of five or three of ten so this is not a
Speaker 1criticism this is a critique okay we confuse busyness with business you cannot own a business and not understand a 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 no the reason that recording artists and movie stars and actors who are right brain creative geniuses go broke is they said i don't want to deal with that shit no it's the music business dope the business of the music business dope the music business dope the music business dope the music business of the music it's the entertainment business it's the business of entertainment you cannot get into one and not understand the other somebody's going to rob you in broad daylight because business is not personal huh on every turn they're going to separate you from your wallet because you're not paying attention as you you and i i don't want to there's a certain person in boxing right now yeah we know who is in deep trouble and faking it like he's not and look i don't care how much money you make you can you can spend it if your outflow sees your inflow then your overhead will be your downfall and if you gonna wear one set of set of sneakers a day and throw them away you a fool if you gonna get a a private jet for you and another private jet for your friends another private jet for your girlfriend you a fool in fact you shouldn't be paying for a private jet the private jet should be paid for by a corporation with a cash flow tied to it and that's an unlimited liability corporation and tied to a deal you have with whoever i heart or whoever it is and you flying the jet for free that's how you fly on a jet you
Speaker 3don't gotta own it you
Speaker 1shouldn't be you should not be coming out of your cash flow it should mean it should not be coming out of your 1099 income knock it off stop all this blossom how you get the
Speaker 3jet on the expense again my man is you gotta know the people you have to have you a rich friend and then you buy in like 10 percent and then you advertise it for 10 percent you have to have you a rich friend and then you buy in like 10 percent and then you advertise it for 10 percent and then you advertise it for 10 percent and then you advertise it for 10 percent you have to have you a rich friend and then you advertise it for 10 percent you have to have you a rich friend and then you advertise it for 10 percent you have to have you a rich friend and then you advertise it for 10 percent you have to have you a rich friend and then you advertise it for 10 percent you have to have you a rich friend and then
Speaker 1you advertise it for 10 percent you have to have you a rich friend and then you advertise it for 10 percent you have to have you a rich friend and then you advertise it for 10 percent you have to have you a rich friend and then you advertise it for 10 percent you have to have you a rich friend and then you advertise it for 10 percent you have to have you a rich friend AT Yachts, a billionaire in a yacht, it's a limited liability corporation, it's probably structured as a remote office for their for-profit company, they're writing it off as a business expense. Yeah, you take clients out two times a year, you're good.
Speaker 3And when they're not there, they're chartering it. That means you let somebody use it while you ain't using it.
Speaker 1Who pay you. So now, we have a place in Turks and Caicos, it's a limited liability corporation, I bought it $2 million, it's now worth $4 million, the monthly mortgage is covered by the rental income when we're not there. We made agreement with, I don't want to say so much so people know where I live, but we made an agreement with the company that when we're not there, you rent it out. And they said--. You can't come, we prefer you don't come on Christmas. 'Cause they be the biggest time for you, for sure. Don't come on New Year's. Come in June, motherfucker. 'Cause that's when we gonna make you some money. Right. Yeah, by the way,
Speaker 3again, no flossing.
Speaker 1Right. Don't come on Fourth of July. Don't come on Thanksgiving. It's business. Don't come on Christmas. We love you, John. Don't come on New Year's, because that's when we make the most money. Right. And we're making it for you. Right. So please don't come. Right. Now, we can't force you not to come. It's your shit. It's your shit. Right. But please don't come. Right. So we's like, cool. March 3rd, motherfucker. Well, yeah. 'Cause December 15th is just as good as Christmas to me. And the Caribbean is--. They ain't gonna come over and go crazy. January 15th is just as good as New Year's to me. Ain't shit. I got no problem staying home. For sure. And chilling. For sure. So, the moral of that story, the mortgage is paid, the insurance is paid, all 100% expenses are paid. Right. So, if I buy a Jeep or a car that will sit in Turks and Caicos based on the residual leftover income from the unit, I get it for free. And we go there once every--. Whenever. Whenever we get there. Once every six weeks or something. And all I'm--. I'm not even paying for plane tickets. Because I travel so much, I got, you know, I don't know, some crazy number of points on Delta. So, I get first class tickets for me and my wife. For free? The whole trip. Wealthy people are cheap, people.
Speaker 2Using the mile, bro. Free tickets. Ain't we tight? Huh? Ain't we tight? Four dollars. Four dollars. Four dollars. Four dollars. Four dollars. Four dollars.
Speaker 1Four dollars. That's a hell of a store of snooker right there. I got no money. They got four dollars. He's been trying
Speaker 3to talk himself out of buying one.
Speaker 1No, if you got to think about it, don't buy it.
Speaker 3No, I only bought it when I didn't have to think about it.
Speaker 1I don't think about it. No, it wasn't that because I was thinking about a photo or two, though, that way. Okay. But before you do it, please talk to me. Don't buy a new one, by the way. Do not buy a new one.
Speaker 4Did I tell you that? I don't buy new cars, nigga.
Speaker 1I didn't say that. I don't buy anything new.
Speaker 2You're going to start listening to me, motherfucker. I said I don't buy new shit.
Speaker 1Do you want to hear the story or not? Yeah, absolutely. Go ahead. So I pulled up, and I didn't want to go to the valet, but I was only going to be there for 45 minutes, but they had the whole thing coned off. There wasn't nobody there. The whole thing's coned off. There was no place to park. So I forced me to drive my ass up into the valet. Brother's there. I saw the sign, $40 for whatever, valet. I said, man, you don't get or stay wealthy giving away money. I don't want to give you $40. I mean, you seem like a nice guy. And clearly, I can afford it. And I went through this whole thing. Literally, I was aggravated. $40 is a triggering number for black men. It was a triggering number, man. I was told, what? Except for when you're buying pussy. My bad. I ain't got nothing to do with it after a comment. My bad. So Homeboy said, he said, look, I know who you are. I know who you are. I watch your videos. You just showed me. You just proved to me you're real. Right? Right. He said, look, can you just take care of me? I said, look, man, I'll give you $20 just because you're a nice guy. Cool. So he parked my car in the same place where the $40 parking was. Right. I'm happy. Remember? Back to the deal. A good negotiation where everybody leaves slightly annoying. Right. And I went in, did my deal, and I came out. He threw me the keys. I gave him his $20. Everybody happy. But I'm not giving you $40. That's flossing. By the way, I don't care where you park my car. I'm not giving you $40. I'll drive around next time. I'm going to be like, hey, bro, I ain't going to lie, bro.
Speaker 2You ain't give me that $40, bro. It's funny because he would have gave him $10. Oh, no. I would have gave him a double. He would have had to put me right in the front.
Speaker 1I need to be by the door. But our broke people, our broke people will spend $40 for that valet. We're going to spend a Louis Vuitton purse weekend. Look at the lines at Louis Vuitton. It's us. Lone. Do you know that 70%? 70% of all luxury goods are poor people and middle class people. 76%. 76%. Don't trust me. Go to the mall next time and look who's in the line. By the way, I'm not telling you not to buy it. I'm saying your assets cannot be on your ass. I couldn't do it. It do look good in the line like that. It's got to be the motivation. First of all, I'm not staying on anybody's line. To be clear about that. I'm not saying. I'm not saying anybody's line. It could be for motivation. 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. If I got to ask, what's the payment, all that stuff. You, by the way, you never ask what the payment is when there's an interest rate attached. You ask what the interest is. I just saw this brother bought a Hellcat. Hey, hey, hey, hey.
Speaker 3I just bought.
Speaker 1No, no, you got this kind of Hellcat. Okay, okay. This one's $3,500 a month. No, hell no. No, he got that motherfucker. No, no. Poor. It was like, for like 72 months. Yeah. $3,500 a month. Do that math at 20% interest. Shit. He bought five cars. He bought a Bentley. Should have been on Fable Market playing with me. And it was a 2023. Wildin'. And he was on social bragging, flossing about how the lady who sold it to him said he put $2,000 down and $3,500 a month. With that 520 credit score. And she said, tell all your friends to call me so they can be fooled. She can say the fool's part. We have got to knock this off.
Speaker 3Wow. Come on. That shit crazy.
Speaker 1Wow. Y'all not doing me yet? Nah. Hell no. Oh, we love you and this shit.
Speaker 3Keep going. And they wanted the down payment. Hey, man, let's put the book up. When my credit got straight, they just threw the keys. I'm like, yeah, you can come do that shit later on. When I bought my mama. Then when I knew the game was fucked up. I got my credit right.
Speaker 2They didn't ask for nothing. Just a signature. But then when I knew the game was fucked up. This is how I know that some niggas don't understand, right?
Speaker 1By the way, all the proceeds in this donated to Operation Hope. Just so everybody knows. My non-profit. We
Speaker 2hear shit in the rap songs and the rap lyrics and thinking like, this is where we get our financial literacy from. So all that buying shit off the lot. So before I even bought a car or anything, I went and bought my mama a car. Okay. Paid cab for it. Bought a Mercedes. I'm thinking I'm doing something. I think I did something for my credit. No. Because I done paid them. I'm thinking all they care about is a nigga paying for the car. I went and tried to go get a car. You know what my interest was? They wanted to charge me 42. So my credit was fucked up. But then when I told them, you know, I'm good. I told them, hey, my mama. They like, that ain't got nothing to do with us. And it did. Nothing for your credit when you paid that motherfucker off.
Speaker 3You paying 42% interest. You will never even get to the place. But I'm glad that you acknowledge this. And you know what I'm saying.
Speaker 1By the way, I was praying you weren't. I was hoping when I was 18. My car got repoed. Well, they were looking for it. They never found it. But I was driving around. They couldn't find the repo, man. But I had a repo on a Montero Jeep when I was 18 years old. I was homeless. I lived in that Jeep. And my interest rate was about 36%. So just so you know. And my credit score was toe up in the flow. It was 400. 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 a hell of a lot better. And rainbows on the top. If I had told you not to do that, if you hadn't done that, and I gave you some lecture about financial literacy and you shouldn't do that, you would roll your eyes. I would have said, well, fuck what you're talking about. My money's going to go bad in a minute.
Speaker 2And you still would have had 36 months left. Still. But you know what? If I would have knew better, my mother would have said, no, don't do that. Give them half front front. You feel what I'm saying? Work on the payments for a year and a half so you can build your credit. Very good. Then you would have did something. I'm thinking they only care about the money. It was the system and the price.
Speaker 1So let's deal with this. Let's deal with this right now, everybody. Money's nothing. 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. Right. Money is nothing more than an exchange of value. I could say, tell you what. I'll take this. I'm going to give you this Yeti thermos for that hat. And if you say yes, we've just exchanged value. I could take your hoodie and right in the back of it, pay to the order $50, put my routing number, my account number, sign it. You take that hoodie off, take it to the bank branch. They need to go back and huddle and call their lawyers and figure out whether they're under a legal obligation to cash your hoodie because it's technically a check. Well, seeing you all at the jail, what? All 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. Gold. Gold, precious metals. 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 wealth? My brother here on the cameraman, he's probably late 20s, early 30s. Is that right? Insurance. 30. So you're in good health. I can tell. They'll give you a million-dollar policy for $75 to $100 a month. A million-dollar policy. You have a child. You have a child yet? Yes. You create a will. You put your child's name as a beneficiary of that million-dollar policy. I don't know how long you're going to live. I damn sure know you're going to die. It's not a mystery. So I hope you live a long time. But if something, tragedy strikes you in 15 years, an accident or whatever, your child's an instant millionaire. That's generational wealth. Everybody can do that. No more fish fry, please. Let's stop doing GoFundMes to bury somebody. I am tired of $25,000 GoFundMe 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 for $25,000. I know it because as an employer, I pay it. From the company? Yeah. So we're doing these GoFundMe campaigns for nothing. If you work for any responsible company, government, whatever, in the details, of the health insurance policy, in the fine print, is a death benefit. They're supposed to give you $25,000. $25,000, which pays for all burial expenses. I don't want them to think they work for us. I'm just tired, man. I mean, we're not doing the basic shit. What did I miss?
Speaker 2I'm talking about our employee. We'll be thinking, if we get $25,000, we'll put some on that motherfucker. We ain't making $25,000.
Speaker 1Okay. I'm a normal employer, man. I said that. You ain't going to be having free money. I didn't say who.
Speaker 2Freelance. What about freelance? Let's go about $2,000.
Speaker 1$10.99. $10.99 is not included. All right, man.
Speaker 3$10.99 is independent contractors. Now, for all the people watching, though, just let them know where they can catch up with you at and where they can get the book.
Speaker 1You can get the book anywhere online. It's a bestseller on Walmart. It's a bestseller in four categories on Amazon. It just came out on Audiobook. I read it. I read that myself in my own voice. It's a bestseller. So you can go anywhere online. Barnes & Noble's. Black bookstores have it.
Speaker 3I'm about to get mine signed.
Speaker 1And I hate to be racial here, but. It's the Carlos. K-A-R-L-O-U-S. All the white folks buying the book. They want to see what the fuck you're talking about. I want you guys to buy it. For sure. I want to see what John's talking about. He knows about the civil rights movement. No, more importantly, Capitalism. Capitalism. L-O-U-S. Yeah, L-O-U-S. I hope this has been something enjoyable, entertaining, you know. All of the above. Is there something that jumps out? We got any questions from the floor?
Speaker 2So basically, capitalism is just hustling for real, for real. It's a legal hustle. It's a legal hustle, right.
Speaker 1All a drug dealer is, is an illegal, unethical entrepreneur. Right. He's part of the. Capitalism. Import, export, finance, marketing, wholesale, retail, customer service, security, territory, logistics, HR. Gotta have a legend. A drug dealer, I mean a gang leader is a frustrated union organizer. So we have a lot of talent in our community.
Speaker 3Right. Focused on the wrong shit.
Speaker 1For sure, for sure. We got you some more good gifts, too. Oh, I got some gear, man. We got you. Cool. Thank you. Can I get something for my wife, too? Absolutely. I can't go empty-handed. I gotta give her something. We got something for the wife. For sure, for sure. I'm willing to pay for it.
Speaker 3Small, medium. Yeah, we got you. Yeah, we got you. We got you.
Speaker 1Is there any questions or something that's jumped out at you guys from the night that made this worthwhile? Day one, get your credit right, fellas, ladies and gentlemen.
Speaker 2What'd you say, Bentley?
Speaker 3Oh, yeah, we'll get you straight. Get your credit right, man.
Speaker 2And then go to the bank and ask for these loans and figure out what you able to get with your financial situation.
Speaker 3And my boy who's doing my camera work for me, he a big fan of your work right here. He been watching a lot of you.
Speaker 1Oh, much respect. You been cheesing since you got here. 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 Charlemagne, Cam Newton, there's a lot of, Steve A. Smith, there's been a lot of folks. When I go, I didn't even see it. You know, people stop me when my white brother's sister stopped me. I know they've been watching CNBC. But black people stop great. It's all you guys. Anyway, I can't go anywhere. And it's a beautiful thing. People, even at the mall today, I can't go 10 feet. But that means that our people are getting the memo. For sure. That means that we want to make smart sexy. That means you got to keep coming back.
Speaker 2Well, I'll do that. You're going to be our financial, you know what I'm saying, economics teacher in the
Speaker 3neighborhood, guy. That really is a big class. Ken, what you got? So, Mr. Bryan, so what you say, credit, and I
Speaker 1heard you talking about a lot about credit. You say that's the biggest barrier that's keeping our community from moving from survival mode to building wealth. Yeah, that's a great question. I'm going to subtext it and say, you know, I'm going to subtext it and say, you know, I'm going to give you an answer in three parts. It's credit, understanding what's behind credit, which is capitalism, which we're still having this dumbass argument about. I mean, if you go to my comments sometimes, people just want to spend all this time arguing about, we want to destroy the capitalist system. You're in the capitalist system. They don't know what they're talking about. Can we just please knock it off? I don't have time to go back. Spend another 200 years, rebuild? I don't know. It doesn't make any sense to me. Like, you're in the system. Let's upgrade it and make it work for us. Please, please, I'm begging you. So, we're arguing about money. The Bible says, by the way, the number one thing mentioned in the Bible more than 2,000 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 mindset. There's a difference between being broke and being poor. Being broke is economic. Being poor is a disabling frame of mind, a depressed condition 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 up on survival mode, we're distracted, and if the right side of your brain shuts down, that's where creativity, 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 off, this shuts down. You can't get to the left side of your brain, which is where logic is. So, we don't make logical decisions because we're angry and emotional, and you should never make an emotional decision ever. Whenever you make an emotional decision, it's going to be fucking wrong. Excuse me, fudging wrong. Impulse. 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's not evil, and credit is good. There's good debt and bad debt. Good debt. Bad debt is tied to something that appreciates. Bad debt is tied to something that depreciates. Financing jewelry is bad debt. Financing tennis shoes is bad debt. Financing vacations is bad debt. Financing a ticket to a concert, which we are doing, is bad debt. We keep asking, what's this payment? You know, financing a hill cot at $3,500 a month, which is bad debt. It's going to depreciate like a rock.
Speaker 3It depreciated when you bought it.
Speaker 1By the way, I'm coming to your question. This is a great question. I'm going to stay with this for a second. A car dealership is three businesses. The least valuable, the least profitable, auto sales. The second most profitable, the finance department. That's where you went. The third most profitable, I'm sorry. The first most profitable, I'm sorry. The least profitable, the third most profitable, is sales. The second most profitable is finance. The first most profitable is maintenance. 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. Because you need the car. And they're going to hit you with a bill that's going to make your eyes bulge. And then if you default, they're going to sell, repair it, refraction the cost, and sell it to somebody else. Three businesses. A car dealership. 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're all happy, and you think the person over there is your friend. Hey, Joe, yeah, you want a beer? Would you like some water? You know, you want some chips? Again, you're all relaxed. So they can eat you alive. And what you're not paying attention to is they made up the discount on the price when they hit you with the interest rate. Because they're in partnership with the financial companies. And your creditors told them to flow up. Otherwise, you'd have walked in with an approval. You follow me? So they were going to offer you, before you got the discount on the price, they were going to offer you 15% interest and what's called three points, which is a fee that they get at the dealership, the 3% of the purchase price. But because they don't like your attitude, because you pressed them, they told the finance company, charge them 18%. And I'm going to collect five points. And then they say, do you want a warranty? That's another 10. And do you want a maintenance contract? And do you want to, you know, they got all kinds of stuff. And you want the no rim, no rim,
Speaker 3the bubble, the bubble. You got to bump the car twice. And then we got these flow mats that don't get dirty. They're a thousand dollars. But we're going to let you get them. Accessories back, exactly.
Speaker 1No. You end up a third of the purchase price, you just wrapped up in interest and crap. Right. And the car is going to break down. It's not Mercedes, it's Mercedes Payments. Now, let's go back to your great question, 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. There's no successful millionaire, multimillionaire, there's no successful billionaire, there's no successful country. Please hear me. There's no successful company that did not do it on the back end. The lack of good debt. What's the difference between good debt and bad debt? Interest rate and terms. So, I had a line of credit. I don't remember what year it was, but late teens. Like a $75,000 line of credit. It was lazy. Somebody offered it to me. I was doing some stuff around the house. I said yes. I didn't want to use my credit card anymore because I was using my Amex to pay for everything. By the way. Credit cards differ from a charge card, okay? A charge card, you pay every month. I don't want to assume anybody knows this stuff.
Speaker 2Don't show them your card, OG. No. These niggas zoom in and get hoes. Hoes. Hoes, everybody. I want to inspire people. Better hide the number, man. These niggas zoom in, gang.
Speaker 1They already figured that out. So, that's, you know what that is? Black card. No limit on it. Right. I can technically buy the building. Right. So, I charge every month on this card six figures. Right. And then my different departments, different companies reimburse me their portions of this and then I pay the bill. In full. You got to pay it in full every month. So, every month I pay six-figure credit cards.
Speaker 2What days do you allow? You know, some folks say only you, 30%. But since you got a little limit. So, you ain't got no 30%.
Speaker 1So, again, great question. That's a credit card. Right. A charge card, I mean, in my case, there is no limit. But a charge card, they will set, they say, look, you have a $3,000 spending limit or whatever it is. You can charge up to this. By the way, a debit card is not a charge card. A debit card is a, I'm snatching your stuff right now out of your bank account card. Right. Anybody old enough to remember floating checks? Or am I the only person in here? No, I don't remember checks. My man, you know, floating checks. You'd 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. Right. They deposit it, take another three days to go through the system.
Speaker 3They only do deposits on Thursdays. You don't buy yourself a week.
Speaker 1That's right. You don't buy yourself. You got to go run around and make some money. Postated checks. Postated checks. Yeah. Y'all don't understand. You don't understand. So, now, the modern version of that is a debit card. But that's instantaneous. Right. They take the money right away. Okay. A charge card is, I'm going to give you 30 days to pay this. That's an Amex card, a diner's card. A credit card is like Visa, MasterCard. Right. They give you a certain limit and you have a rolling balance and you make, many people make minimum payments, which I don't agree with. On that, you're right. You want to charge only 30% of the available credit. Now, people make this mistake. They say, if I have a $10,000 limit, that's better than having a $1,000 limit. Not necessarily. If I have a $10,000 limit, that's better than having a $1,000 limit. If I have a $10,000 limit, but a $9,000 balance versus a $1,000 limit and a $300 balance, the person with a $1,000 credit card and a $300 balance has a higher credit score than the person with a $10,000 limit and a $9,000 balance because you have more leverage and more debt. You follow me? Right. Right? It's a basic thing nobody teaches you. So, I'm not sure what point was I making. I was talking about good debt and bad debt. Right. Right. So, I had this line of credit for $75,000. To make a long story short, my payment was about $2,500 a month on this line of credit. And I was lazy about it. I didn't really pay attention to it. It was convenient. I was tired of using my black card.
Speaker 2So, this was actually a credit card?
Speaker 1This was no. It was a line of credit. It was, I forget what they call it. It wasn't a home equity line of credit, but it was a credit card that was designed for the home. Okay. Okay. And I was using my Amex card. My wife was doing some household stuff, and I thought it was about 50 grand, and I just, I want to put this on a segregated card. It cost me $2,500 a month, is my point. Now, hold on to that. I'm talking to one of my very, very wealthy friends, at that point, much more wealthy than I was. Again, shut up and listen. And I was rich. He was wealthy. 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 3%." Back then. 3%. Go get a line of credit for, at this point, it was a million-five line of credit. The payment on the million-five line of credit was $1,500 a month. Mm-hmm. Mm-hmm. What did I just tell you? The $75,000 line of credit was costing $2,500 a month,
Speaker 3but the $1.5
Speaker 1million line of credit was costing me $1,500 a month. That's the game. I'm going to give you another one. And you guys should do this. If you open a stock account, you've got $25,000, you've got $50,000, you've got $100,000. You're doing a concert or whatever. You get a bunch of money. By the way, think about taxes. I'll talk to you about how to deal with that in a minute. But think about, OK, you've got to take $100,000, let's say $100,000 for you, $10,000 for you in the audience, or $5,000. Go open a stock account. Buy conservative stocks. Do not do cryptocurrency. Do not do crazy, stupid stuff. Go buy stuff you use. Go to Walmart. Go buy Walmart. Whatever you use, buy it. You like, this is Ferragamo shoes, buy Ferragamo stock. Whatever you love, you like Gucci, buy Gucci stock. If you like it, everybody else likes it. You following me so far? Yeah. OK. Buy stuff you use. You like, go look at your appliances in your house. Black and Decker. Black and Decker. The car you drive. Buy that. Buy Ford. Whatever it is you like, everybody else likes it. Buy that stuff. Do not sell. You then go back to the stock market. You buy that stuff. 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 gangster. So now, you have a, in this example, you have a $100,000 stock account.
Speaker 3Right. And they're going to match your $100,000?
Speaker 1No. They're going to give you a line of credit for 70% of your balance.
Speaker 3OK. For now, it's $70,000.
Speaker 1$70,000. OK. You're not going to use $70,000. You're not going to leverage yourself because if the market comes down, you're in trouble. But you're going to use $30,000, $40,000, up to $50,000 of that. And you're going to charge yourself, they're going to charge you about 4% to 5% interest rate in the current environment. That's the cheapest money you'll ever get, and you're your own bank. And this is the gangster part. The money is still making money. Did you get that? Right. You're borrowing from yourself. You're the bank of Carlos. You're getting the lowest interest rate in the world. You're getting the highest interest rate possible. And while you're borrowing from yourself, the stock account is still making money through the stock market because the companies are still out there performing. Did you guys get that? This may be the most important thing I said the whole day.
Speaker 2I got a 1.5 line of credit, but I just went and got a margin account and used my 1.5 line of credit as leverage to get the margin account. Is that what you're saying?
Speaker 1No. Just the other way around. Let's say you have a million dollars that you don't, that you're sitting in a bank. Right. Earning. Nothing. Nothing. Right. You take that million dollars.
Speaker 3Right. And you put it in a stock account.
Speaker 1S&P 500. S&P 500. Right. You only invest in conservative, boring stuff.
Speaker 2Right. Right. Waste management.
Speaker 1Gold and sass and all that. Yeah. Boring stuff. Right. Conservative. Right. You then ask whoever sponsored the margin account, Truist, JPMorgan Chase, Wells Fargo, Santander Bank, Regions Bank. Infidelity. Infidelity. Right.
Speaker 3I said infidelity. Not infidelity. No.
Speaker 1I didn't. I didn't. No, I didn't. No, I didn't. No, I didn't. But now, whoever sponsors it. Right. So, my family office is with Rockefeller. Right. 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. You then use your lifestyle, you make your lifestyle purchases on that line of credit. Now, here, and they're going to charge you below market interest, this is a gangster move, one, 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 going to tell you, you make money during the day, you build wealth in your sleep. These people stake their whole careers on making the market go up.
Speaker 2And you can do that, and you can do that again once you pay that loan off.
Speaker 1It gets better. If you sell an asset, you owe taxes. Capital gains. Capital gains. Capital gains. 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 the bill. That's why, I'm going to tell you, I'm giving away a bunch now. You can get comfortable. You're even going to go now. I'm dead, man.
Speaker 2What do I don't teach you? We're in the bank after being out. Hold on. So, you say. Look, I done wrote it down. I said margin account. Don't use butter, get margin. Get margin. Get margin.
Speaker 1By the way, I wish we had a knife here. Is there a butter knife here or a knife here? No knife. If you had a knife, let's assume this is a knife. You can use a knife to butter bread, or you can use a knife to cut somebody. We're using the knife for the wrong damn purpose. Tool and a weapon. That's it. Again, if you're survival mode, if you're angry at the world, the only purpose for that knife for you is to cut somebody. If you're being angry, the butter knife is meant to butter bread, damn it. Now, let me tell you the real gangster move. Wealthy people don't want income. I'm going to break this down to you. I don't know why they're scared of it. When Warren Buffett said, my receptionist pays more in taxes than I do, that's because he does not have an income. You need me to break this down? That's the way he's sending that money to. His secretary gets a paycheck. Remember I told you Second Reconstruction was cashing the check. Third Reconstruction is writing the check. Warren's the writer. The secretary's the casher. She gets a W-2 withholding statement that has local, state, and federal withholdings. She gets a paycheck every two weeks because she's in a risk management form of capitalism. She's not taking the risk of Warren. She's not taking the risk of Warren Buffett. She knows as long as Warren Buffett's company's in business, she's going to get paid. So her risk is lower, her income is guaranteed, but she has no upside in Berkshire Hathaway. 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 your guarantees of a regular something, the less your risk. The higher you go up on the totem pole, the more your risk, the less your guarantees, but the higher your 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 did I just tell you? On the way here, I lost $1.6 million. I'll be fine. But there was a time when $1.6 million would have taken my ass. Completely out, right? So most people are like, I don't want to do that thing that John Bryan's doing. My payroll is $2 million every two weeks. My payroll. It doesn't include me. So most people are like, you know what? I admire that John Bryan guy. That's just too much going on. He works 18 hours a day, and it sounds all cool, but I just want to come home at 6.
Speaker 2I want to go in at 5. I want to avoid it. Huh? I want to avoid it.
Speaker 1Okay. My man just wants me to cut to the end. All right. The Secretary's paying taxes of $38 to $45. That's what Warren did. Right. Warren Buffett only pays taxes when he sells an asset. It's called capital gains. It's 20%. And he only sells assets once every five years or so. So what's he doing with the income? And in the meantime, he's taking loans against
Speaker 2his assets, which
Speaker 1are tax deductible.
Speaker 2He's taking loans against. Are you hearing me? He's got a company.
Speaker 1Are you hearing me?
Speaker 3To get the stock. Huh? Don't you repeat this? No, I was talking about he asked what Warren do for his income.
Speaker 1His income is in the, all billionaires, all billionaires. Let me rephrase that. No billionaire is on an income. Right. I mean, on salary. None. Right. They hate billionaires, centimillionaires, $100 million. People have $100 million. Multi, multimillionaires do not like income because it's taxed. It's taxed. At the highest rate possible. 38 to 50%. We're doing federal, state, and city. Capital gains is 20%. Automatic. Capital gains is when I buy this book for $25 and I sell it for $50. The capital gain of $25 that's different, I pay 20% on the gain. But I may not sell this for five years. And in the meantime, I'm taking a loan against the asset to finance my lifestyle. That's the margin account. And I write off the loan because if I fail, I got to pay the loan anyway. But if you know who you are, you don't think you're going to fail. You're banking on yourself. Right. Now, some people are going to listen to you and say, see, I told you those rich people won't pay no taxes. Lie. 70% of all U.S. taxes are paid by people like me. 70%. 70%. We pay less in traditional taxes, but the big checks we write for capital gains and property taxes and sales taxes are through the roof. So they think that y'all
Speaker 2is avoiding taxes but not knowing that you got a $100,000 property tax that you got to pay.
Speaker 1That's right. My property tax bill in my house, just one of my houses, is $25,000. Just on one of my houses. Fayette County loves that. And I got a bunch of. I got to pay every year. So no one's getting away with anything. 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. I am trying to transition right now from I build up cash flow, but now I want to get rid of it. You follow me? Yeah. I've built up cash flow. And by the way, I have enough expenses to offset my cash flow so that sometimes I get a tax refund. Really? Yeah. And sometimes it's neutral. I just had enough. Don't owe. I don't owe. But when I owe, it's six figures. I mean, it's, you know, six figures. But, you know, you do it right. But my real goal is to not, to get to a point where I have no income. It is as low as possible. 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. The whole purpose of a company is to sell it, by the way. We don't have time for all of this.
Speaker 3Well, you're going to come back on a Saturday morning. We'll do a whole seminar and shit. Seminar and shit? Because, yeah, a whole seminar. And you know what? I'm glad you brought that up because it's black men. And shit is the most important part of whatever you say. That's like, et cetera. You better just invite me somewhere and it ain't no and shit going on. Don't say we having a cookout. Say we having a cookout and shit.
Speaker 1My brother Howard Hewitt from Shalimar, we love this word situation. Everything's a situation. You know that situation? You know, remember that situation? Got that little situation. But I was in a situation. But I don't know. What about that situation? I'll be happy to come back. The last part of this interview. 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 200 pages of math, by the way. It's 200 pages. There's no politics. There's no emotionalism. 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 the receipt. And with your postage cost, I will write a check back to you for the cost of the book and your postal cost. I'll donate the book to a library and give you your money back. That's how much I believe. I believe that if you just get to the preface, the preface, which is after the foreword. Just read the preface. If the preface does not have your head spinning backwards, put the book down. That's how gangster I believe it is. But there's these little hacks in life. These little success hacks. 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. I finally. I WANT TO MAKE SURE THAT EVERYBODY FIGURED OUT HOW TO MAKE making the system work be.
Speaker 3Right. God damn it. I ain't never working again. No. Why you say all that? I'm just saying I ain't going to be an employee again. Well, there you go. You employees of the system. I'm just saying I ain't going to have to be there at 8.15 like they said. Right. Talking about you got 15 minutes to eat a little sandwich. I never. I ain't going to have to wear a shirt that matches nobody else's shirt. Oh, shit. Bet you that. But what if it's a big Fortune 500 cup? I'm saying that it's going to have my name on that motherfucker. I'll tell you that. Not unless me and John O'Brien started a company or something, but I ain't fucking all that, man.
Speaker 1Do you know how good it feels to tell people when you come to Atlanta stay at my hotel?
Speaker 2I don't know. Look, how can we do that? Is it part of the bond war? Is it part of all that?
Speaker 1We got to get in. We got to get in. Hotel Phoenix, right? The Centennial Yards I talked to you about. I'm an investor in that. Man, go tell your business. Tell them folks to put us a VIP in there together. Two Chains is an investor and Grand Hill is an investor. That's why ain't nobody got no comedians.
Speaker 3Y'all set a little portion there. No, we ain't got Grand Hill money, but I mean, between two of us. Y'all got 1050? We can get in with a buy-in if y'all get in with us early enough where we can raise some capital and let us fuck with some capitalism. You know what I'm saying? We ain't going to even tell everybody we got a little piece of it. Just put our name on the cornerstone. And we ain't got to be our name. Be 85 South. VIP get lit.
Speaker 2We ain't tripping.
Speaker 3845. You getting your Airbnb? Everybody back here want their book signed, man. Like you said, man, we know your time is valuable and we appreciate it every time you stop doing that. 85 South.
Speaker 4Child, host Brian.
Speaker 3You did it. You come get
Speaker 2your book signed, man. Yeah, I'm fucking with it, OG.
Speaker 3You can be the first
Speaker 2one to sign our new table, man. Oh, okay. Oh, my God. I'm going to get my credit clean. Your credit ain't clean? I don't think folks know how to do this shit. It's that simple, like what he said. It's really that simple.
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