Trump's "Sh#thole" Countries, Paramount's HOSTILE TAKEOVER + Dems Affordability HOAX? | PBD Podcast | Ep. 698

>> Did you ever think you would make it? I feel I'm supposed to take sweet victory. You know this life meant for me. >> Adam, what's your damage? The future looks bright. >> And Jake is better than anything I ever saw. It's right here. >> Can you borrow one of one? >> I'll send you right there. >> I'll take a look at this. >> Okay, we have a fair warning for the audience today. Folks, we weren't Adam in advance. Whatever you do, don't ask our guests today about climate change. We've told them 50 times. I said, don't play this BS game. Because when you talk about climate change, he loses his shit. The man just came from visiting the Pope six weeks ago. Don't mess with him. He's in a very good place. We have the one and only, the entertaining Dan Pena in the house. Dan, great to have you on here. >> My pleasure. >> You look amazing. >> Thank you very much. >> Okay. All right, so we've got a lot of things to go through. There's a poll that we're going to cover today. That is shocking. Absolutely shocking. That CNN played. Harry Enten. That Tom was just talking to us about this a minute ago. Of what demo the president has lost that's had the biggest plus minus just in the last 10 months that is very concerning. And it comes down to one topic. And on one topic is affordability, which we have to talk about. It's probably going to be the first thing we're going to be talking about. The president, yesterday, gave a talk in his talk. He gave some very friendly compliments to people like Ilhan Omar, Colin Erdum and Stupid, Tim Walts, going after Tim Walts. Again, more compliments. MTG, not some nice stuff about MTG, I think in an interview. He said Jerome Powell shouldn't be the, you know, the Fed share because it was auto-penda Biden sign. So he shouldn't be it. And then the things he said about immigrants. He says, why are we not getting some immigrants come in here from Sweden? We need some European immigrants. Why are we getting so many? Anyways, we'll talk about that on his speech. And then a site from that last night. Shocking event folks in Miami. Last night, Mayor Suarez, who's the guy famously known for that. When Elon Musk was not happy about what Gavin Newsom in California were doing to him in Tesla during COVID. And he comes at an ask a simple question on Twitter that blows up. And it was called, how can I help? And they put together one of the best business conferences. Miami's ever put together the America business form. Everybody was here just last night. They elected a new mayor, Democrat, that one last night. Replacing, obviously, Mayor Suarez did his time. But beating out the Republican Emilio Gonzalez. And apparently, by Randall Strider helped this man win. The Santas, Trump, and she won. And you know what she ran on affordability. So we're definitely going to be talking about that as well. On top of that, Trump green lights and videos. AI chip exports to China. Tows 25% US share. He calls affordability a Democrat scam. That's going to be a topic today. Diamond on Trump media debunking. People have to grow up here. That's Jamie Diamond. Trump says he will sign the one rule executive order to federalize AI regulation. Some like that. A lot of people don't. We'll talk about that. Trump threatens Mexico with a 5% tariff over the water dispute that they have. He struggles to persuade. Trump struggles to persuade Americans regarding the affordability issue. Again, this goes back to this thing here. We cannot be looking past this. Maybe Dan's got a different angle that we'll talk about here today as well. 20 signs there's an affordability crisis. US layoff saw passed 1.1 million in 2025. Highest since the pandemic. This next one is a very technical topic that I think it's important to some employers nowadays. And this is a business insider story. Being hot is now a job requirement. Not hot as in its hot 88 degrees. But physically hot is now job requirement. And HR is actually okay with it. I don't know how they do that. Oh, no. Am I getting fired? No time. This is your middle to hot. Okay. Fed is expected to deliver a third straight rate cut this week amid labor concerns. I think it's going to happen sometime today this afternoon. Americans suddenly more optimistic. Slightly about the economy. That's a Forbes story. Ray Dahlio says Middle East has become a Silicon Valley of capitalists. David Ellison promised White House sweeping changes at CNN if they allow them. Paramount to buy up, you know, time Warner, which I think that comes with it. Jerk Kushner back fund is a part of the Paramount Warner Brothers bit. There's some new stories that just came out that Tom's going to be sharing with everybody. Saudi Qatar and Abu Dhabi want to put billions into Paramount and Warner Brothers. Why will explain to you why? Tom's definitely got a breakdown on that. Mandani fake Miami Realtors report 166 percent spike in inquiries from wealthy New York City residents. New York City luxury buyers reportedly flood Miami Beach real estate market after Mandani's mayoral election. Home delistings ready. Delistings surge as sell or struggle to get their price. So I put the house on a market and I'm going to de list because it's not selling and my realtor says it's been on a market for 320 days. Let's take it off for two months, put it back on as if it's only been on there for one month. And change the price a little bit. Gen Z is obsessed with renting. Big short Michael Burry is doubling down and defending his call for a stock market bubble and predicts a net scape fate for open AI. And then we got a couple other stories that were leaked yesterday that came out. JP Morgan Lake warns of higher costs for 2026. And a few other things I will definitely get into in regards to cars. The idea of the tiny cars. I don't know if you guys have been following this tiny car story. Not tiny dancer. The president wants to introduce tiny cars in America, but it's a problem because it's very complicated on how to introduce these tiny cars. Rob later on when you can pull up the tiny car stuff. But having said that we are roughly three weeks away from 2026. One seer. We host a business planning workshop. I want you to watch this video. It's this Friday. We go through 200 page manual. If you haven't yet registered for this is your last chance. Watch the video. Go ahead Rob. Business is a lot like Jenga every piece matters. You need a vision. Just careful. You need capital. You definitely need capital. You need to write team for sure. You need sales. As good as this looks, if your foundation isn't built on a good business plan, you know what happens? The whole thing troubles. If you have big plans for 2026 on December 12th, I'm hosting an event called the business planning workshop where all day we go through the 12 building blocks of writing an effective business plan. So this doesn't happen to you. We have a get registered click on a link below that's been an entire day together on December 12th looking forward to seeing you there. Are we going to put the link below go get registered December 12 will be with you guys bring your team spring your family. We'll be going through a lot of different things, especially my own plan for 2026 that I reveal in this event that we do once you're having said that let's get right into it affordability. Keeps coming up and it's annoying a lot of different people time than it's just so frustrating right now that that affordability topic on what they're saying. Yesterday, the president, Harry Anton, I want to go right off the bad Rob. Harry Anton shows this poll on what's going on with the younger generation. Okay. Trump's net approval rating from ages 18 to 29 from February to now go ahead Rob. As you know, Donald Trump put in the best performance for a Republican presidential candidate among young voters since George W. Bush did back in the early 2000s. And you know, he started off his term is net approval rating among voters under the age of 30 at plus 10 points. Hey, that's pretty gosh darn good, but you come over now, according to CBS News, you got this isn't falling into the water. This isn't going on the seas. This is going into a deep dark black hole. Look at that minus 46. That is a shift on the net approval of 56 points in the wrong direction since February. My goodness gracious. You know, I love looking at these swings, looking at how the electorate changes. You rarely rarely ever see swings. We look at a lot of polls. We almost never see drops. It's big this quickly. Yeah. How many sense of why what issues maybe driving it? You know, look, we've been talking about it. You were talking about it last segment with Mr. Mac Egan. It's the economy is stupid. I mean, just take a look here. Age 18 to 29 on Trump in the economy back in October of 2024. Who did those under the age of 30 trust? Harris or Trump? It was Trump by 10 points, according to the market university law school. Look at where his net approval rating is now on the economy minus 52 points. Very similar to what we saw in the CBS News, you got poll in terms of his overall drop in support on the net approval rating. And this minus 52 varies. Yeah, it's just stunning. It's just stunning. I mean, join us here with me. You can pause right there. Tom, I'm going to come to you first. Then I'm coming to you then. Go ahead Tom. Why do you think this is happening? Well, Harry pointed it out well. The number one issue in the economy right now, there's actually a couple. And I'm going to believe the iceberg for last. The people are looking for higher paying jobs. They're looking for jobs where they come out of college. And I'm not talking about the kids that studied, you know, European art history and like, gosh, what can I do with that, that degree? Those are the kids that are mismatched and never should have been studying those topics. I'm talking about college graduates are saying it's increasingly difficult for me to find a job even STEM jobs. We see layoffs happening. But the number one thing is affordability. What happened under Biden? And we can talk about it all day long. All the inflation was Biden's fall and inflation is back down. Well, it is down. It's down to 3% versus 2% so it's down. But what happened under all that inflation is cost of housing, cost of insurance and those are the top two car insurance affects the youth 1829 and housing. And they refer to this. Everybody's referring to it properly as affordability for the up and coming generation. So they're like, we supported you in here. Now we're looking for change and we're looking for and we need to see change so that we can afford to live and we can launch our lives and careers. And that's what's happening with this group. Now the Democrat messaging has been hammering through the media that all this is all Trump's fault inflation is Trump's fault. So there's a lot of stick that they're getting on that. But the fact is Trump's policies are going to make things more affordable. But it's not happening as fast these people that are looking for housing and listening to launch their careers and lives want and the Dems are pushing it and that President can say it's a hoax by the Dem. It is a messaging hoax but you have to counter it with messaging of your own and definitive things that help bring prices back down. Dan, how do you trust us? Well, I don't like to disagree with on the first topic, but my kids when they got out of undergraduate school, my daughter took seven months to find a job and our son took nine months to find a job. And they both found jobs and it was a recessionary time in both cases by making hundreds and hundreds and hundreds of phone calls hundreds and hundreds of letters out going on dozens and dozens and dozens of interviews. And the kids today because I have a fairly large consortium is almost 40 companies and the kids go one one interview and they don't call back to find out how they did. So they the elitist of that generation in my opinion are lazy. I mean, we don't have an affordability problem in my opinion. All I know is when I bought my first house and my dad bought his first house that we couldn't afford he went out and worked overtime. He got another job. The kids don't money have another job. They expect right out of school to make all kinds of Horatio crazy money six figure money and they have no experience whatsoever. So I don't affordability to me is a matter of choice. They're not looking hard enough and not working hard enough to get a job. Now, what do you think when you see a plus minus 62 points right with 18 to 29 and let's just say the president comes up to you and says you guys are having dinner. It's just the two of you and he says, Dan, what do you think we focus on to fix with affordability? What would you say? Well, we sent them wrong message. Okay, I believe that the the Democrats and I don't believe that they do much right, but this particular case they're doing a messaging better than we are. And so we have to up our game and messaging and I don't know who's advising the president on giving this message. But he's got a change and he's got a change for the school. I knew the president in another lifetime and he's not quick on change. He's quicker now than he used to be and he likes to be right as we all just table know he likes to be right. And he have horse people to tell him he's not right. Okay, so so messaging would be one issue got it on in regards to the kids. You said your kids wanted them took seven months to get a job. The other one took nine months to get a job a little bit more persistent. Maybe that's a good message for the younger audience, but some of the some of the folks may say the following they may say in brand. I'm going to come to you with this one and see what you think about this last night. The mayor of Miami who has been Francis Suarez for the last I don't know eight 12 years. I don't know how long he's been there. He's been there for quite some time and his father was also the previous mayor of Miami for another eight or 12 year X. Have you ever found a mistake in right and he famously tweeted at Elon how can I help Elon responds back a let's bring jobs to Miami. You know, Francis saying but last night the mayor who won last night beating Emilio Gonzalez to conservative was a Democrat named Eileen Higgins. Okay, she won last night in Miami. A member of the Democratic Party she previously served as a member of the Miami Day County Commission from 2018 to 2025. Higgins ran in 2025 and defeated Republican candidate Emilio Gonzalez in a runoff making her the first woman ever in the first Democrat since 1997 to be elected. We're talking 30 years, right? So you got Miami just from a conservative mayor to a liberal mayor for seven 30 years. You got New York goes from a liberal mayor Adams to a Democratic socialist mayor Mamdani. Two big markets that we're talking about Brandon, you just turn 30. When you see this happen in your guy, you know, you got bachelors and masters and national security. You went into school the right way, you know, and then shifted not wanted to go into national security. You wanted to get into business. What do you think is going on here? You think is it messaging? Is it actual issues? Is it actual things that's bothering that younger audience that's sitting there wanting to get their life started and saying, Hey, man, we got to do something about this. What do you think is going on? Yeah, I have to agree and disagree with you, Dan. So the first of the job thing. Yeah, I agree. You have to eviciously attack that issue. You have to, you know, apply like crazy. You know, I did a lot of crazy things to get here. You know, I can tell that story. But when it comes in affordability, like, it's just an objective fact that it's a much different situation than it was when you were say my age, you know, because the cost of living, like, like, think about how much money we added to the economy in just in the last five years, like, we doubled the size and the money supply. So, you know, we always talk about how it took like two years of an average salary to buy an average price house in the 70s today. It takes like nine years of an average salary to buy an average price house. So I know they're like exceptional people are going to make it happen no matter what, but it's like the cradle principle. 20% people are like above average and 80% people are kind of just average people. And when those people can't get by with like just food, housing, and energy, those basic things, you know, that's when you risk socialism, because like, I think the, like, this, the real pillar of a society, like the foundation of a society is a strong mode class. And if you don't have a strong mode class, then you start to have these like socialist tendencies. So that's why I think we're seeing what we're seeing in New York and Miami. And I don't think Trump is handling a law because he's kind of gaslighting by saying that the issue doesn't exist. Like, it is a fact that it takes more than half of an average salary to pay for like the basic essential things to live. And that's not a good situation. Well, I'm not, excuse me, I'm not aware that it costs half of the, that's 50 years ago for me. I just turned 80. I'm not using it as an excuse, but the numbers every generation has a reason why they're not happy with where they are economically going back to the 1900. And the fact that Trump is one year younger than I am, and a lot of the people that advise him are almost his age. There is a different reality. It's like, it's surreal. And he's got his cushioner who appears to be a very bright guy, but he's a billionaire. I mean, these guys that are advising him aren't 30 years old, struggling to find out. That's a very good point you're making and a lot next to the comments. I really like the point that you're making because sometimes, you know, you, you'll have people around you around your age. And you're, if you're not paying attention to what is going on with that generation, you're not in communication with them. Even if he speaks to his son, Berrin, Berrin, he's not the guy to speak to. And by the way, this is why I believe the turning point USA audience is very, very important because they're the ones that are the 1890, 20 year olds coming up that are going to school that are seeing the issues that are about to get married that are wanting to buy a house that are wanting to have kids that are like, listen, I'm feeling it. Yeah, I think there's a, I think TP USA could do a great job right now with their audience on running a survey with their audience of the 16 to 29 18 to 29 and asking them questions to get some intel back from that. You see what I'm saying because that's the audience they need to hear on what they're going through to be able to figure this part out. And again, this is a big no matter what anybody says if Charlie Kirk was here right now speaking to his younger audience, what message would he be given to them right now to his turning point USA audience. Adam, what are you up with this because you're my me guy, you're your entire life minus the one you when you lived in your dream destination, Addison Texas with the beaches there. Well, what do you think is going on? I'm with that opinion on this. I think we have to stop focusing on the oval office and look in the mirror and fix your life. Trump's not going to fix your life. Biden wants to fix your life. Obama, the list goes on. You have to fix your life. Everyone's complaining about affordability. Well, you know where it's pretty much affordable. Outside of every single major city in America, it's called supply and demand. So yes, if you can move to New York City. Yes, if you're going to move to Boston. Yes, if you're going to use the LA San Francisco Miami number one city in the world at this point. Yeah, things are going to be a little bit more expensive because everyone's trying to move there. Nobody trying to move to Bumble F or to Des Moines, Iowa. Everyone wants to move to the best cities in the world. That's like everyone wants to date the hottest chicks. All girls want to date the richest guys. Everyone who lives in the best cities. So Miami just under mayor Francis Suarez just became in my opinion, the number one city in America. If not the number one city in the world, you're an America. You're in Miami. LAs and declines of resist goes into client New York's into client. Miami's on the rise. Dallas is on the rise. Certain Southern cities on the rise. Listen, if life is on affordable and you're young, get a roommate. There's no guarantee that I'm an American. I get a house. That's BS. So you may not be able to afford a house. Cool rent. Have a roommate. So the affordability thing like Tom mentioned. It's the economy stupid James Carville. It's always the economy. It's always a pocket issue. Here's what I want you to think about. Here's what I want you to think about time. I'm going to come to you next. So here's first. Rob, if you want to play the clip of Trump reacting to affordability, and I'm going to come back to you Adam. If you can play this clip, go for it. The affordability is a con job by the Democrats. They say afford it. I watch the other day where some very low IQ Congresswoman talked about affordability, affordability, affordability. She had no idea. The prices were much higher. The word affordability is a Democrat scam. Okay, so that's the clip that he's talking about and then he's give is this the talk. Yes, did he have or go ahead? You know, and I said it the other day and a lot of people misinterpreted. They said, Oh, here's a realize prices are prices are coming down very substantially. But they have a new word, you know, they always have a hoax. The new word is affordability. So they look at the camera and they say, this election is all about affordability. Now, they never talk about it. They never talk. Thank you very much. They say I'm not allowed to run. I don't know what that that's all about, but that's okay. He said four more years. You see the new hat. We have four more years. By the way, while he's saying this, gas prices dropped to the lowest in December 2025. And that last time there were this low, which is around $3 right now. December 2025 was four years ago when Trump was president in 2021. That's gas prices, right? But what I want you to think about is what he just said right now, many ago, Dan said affordability could be a messaging issue. And then the other part also, Dan said, which is you may need some of the younger audience around you to get a pulse and see what they're going on. What is it right now, national average gas price? 294. Rob, can you go a year ago to see what the national average was exactly a year ago of where was that? But this is what I want you to think. Okay. So give me actual ideas because the part about the house that took three and a half times your salary to buy house 40, 50 years ago. It takes eight, eight and a half times your salary today to buy house. That's a real number. Okay. So people are numbers again. Okay. It took around three and a half times your salary to buy house 50-ish years ago. Okay. So you're making 20 grand a year. You could buy a house for $70,000. That's three and a half times. Today, it's taken seven and a half to eight and a half times salary. You're making $70,000 a year. Due to math, you know, $450, whatever you want to put there, right? $560. So those are real numbers. Car prices in America. Sky. You know, first time $50,000 average car price, right? But then the income is not going up at the same levels. Right. What do you do? The Trump asks you just purely a camera's off. You're just talking. What do you think we can actually do? Not messaging. What do you think we can actually do to address a few things? So as far as individual economy or the affordability, I want to find a way to make things a little bit more affordable for 18 to 29 years. Give me specific feedback. What do you say? Listen, since COVID, the game has changed permanently with AI technology. We're not playing by grandpa's old rules. I say this all the time. The days of I get a job, I go to college, get a job, get out of the workforce, work for the same company for 40 years, get my gold watch, retire, live on the system. I live till 65 and retire. So that is so out the window. It's an outdated, antiquated approach. People are living longer. Affordability is an issue, but affordability has been an issue when the dot-com bust. Affordability was an issue right after I graduated college, 2008. So what I'm asking you, no, don't give me the greatest hits. What I'm asking you is, if you don't have it, I'm going to go to town. No, I'm telling you right now. Give me the ideas. The ideas is you have to change your own system. No, that's not what I want to hear. That's not what I want to hear. That's the problem. We still think that you're going to be able to buy a house. So then I'm going to come to Utah. You're not. I'm not asking you that. I understand what you're saying. Everybody in this room is self-sufficient. Everybody, this is not this room that we're talking about. Everybody in this room gets up, pays their bills, takes care of their family, takes care of all the stuff that they need to do. We find ways to improve ourselves. This is not this. You just saw a plus minus of 62 points. Tom, he asks you, you can be an analytical thinker. What, one, two, three steps do you give to do things with this? I'll give you three steps. But first, I'll give you the one simple stat. From the day he was inaugurated, Biden, 2021, January 21. To the day Trump was inaugurated, January of 25. The rents in Miami went up 38% in those four years. And that is from numbers from the Miami-Dade Commission. So this is self-reported by a Democrat group who probably is rounding it down a little bit. I saw numbers that said it was really closer to 60% in with young professionals that were making $75,000 to $80,000 a year. Professional job coming to Miami looking for a place to rent. Not a white picket fence, not to do all that. So in other words, we have incredible cost. And they have insurance. That's real. So don't use the word affordable. Just say, how do we bring down insurance cost and find affordable housing for people that want to make a Miami-Great, a financial analyst, and wants to earn $80,000, grand, and move down here, Pat? Here's what we need. We need very active engagement to reduce the red tape and regulation on builders. And we need the city to open up. There is city land that is sitting in previous industrial areas that are still owned by the city that was long-term leases and stuff. They need to release some of that land. So we saw in Dallas how they built a central town, Frisco. A lot of apartments and a lot of nice areas for people who are going to work there. We saw central town, downtown Dallas. We saw the central town in Addison. Remember those Pat? These were planned areas for someone like you, you know, making $75,80 grand a year, getting this start and living in good, safe, affordable housing. And yes, it is going to be more exploits than so. I think number one, my number one point, Pat, is the city has to take an active engagement with the entrepreneurs that are building affordable housing, number one. And number two, the state insurance commissioner needs to get their act together because the regulations restrictions you put on insurance companies causes too many to leave, and then there's not enough of insurance, and the price goes up people. So I need the state on insurance. I need the city on building permits. And I need them to start talking about that so that people can hear, "Oh, someone's out there." And by the way, if there's more units out there, then the relative rents are going to come down thanks to supply. That's what I would be pushing on if I was mayor, because those stats are real. So why don't we think about this, okay? When Dan, when we are in our, and Brandon, you could go to this one as well, but I'll come to you for a second. So let's think about our top expenses when you're 25 years old to 30 years old. It's going to be rent or car payment, right? Right? Would you put anything above that? It's probably going to be rent. Are you married? You're not married yet. Housing transportation and then food in that order. Would you say in that order, housing transportation and food is start? Okay. So address each, address each. So if you got a housing, how do we address it? Car, how do you address it? So Tom just said housing incentivize, which we've talked about, builders to build smaller homes, because we're no longer building starter homes, two bedroom, three bedroom. You've talked about this many, many times. It's now we're building four bedroom homes. We've seen the charts out to decline from 45% to now. 10, 15% of homes we're building are two, three bedroom homes, right? It's all four bedroom, because for many different reasons, right? But think what do we do with housing? What do we do with car and what do we do with food? Housing is a three to five year, what he suggested. And I agree with them. It's a three to five years. You got to change his zoning. Did that happen? I mean, the councils, et cetera, have to vote on it. The people have to land bank. The builders are going to have to go out and get land. And do the planning and get all that approved. That's three to five years before. That's permitting. Yes, exactly. It's before you put one shovel in the dirt. We need a problem to be solved yesterday. Not three to five years. Did you do that, Totein? That's not easy to do. No, no. But the guy that won in New York City. Exactly. He pretends like his system or the socialistic system can do that. But it can. It's just slow. If not slower. You know, every time you see when the economy is bad for the younger audience, you know, the memberships and communism goes up. Membership for communism and socialism goes up. You'll always see it. You're like, okay, it kind of goes like you remember after the great depression. You should see the memberships into the communist party after the great depression. During the great depression, it was skyrocketing because the messaging was what? The rich people are getting richer. The poor are getting poor. If you vote communism, the, you know, the government's going to take care of you. And they're going to give this. And that's kind of like the younger kids that just came out of college that have been brainwashed for four years by economists and professors who are on the liberal side and or part of pro union. They're like, yeah, yeah. The rich people are the reason why you're poor and the reason why you don't have a job. I hate rich people, you know, movies like Joker comes out where the Joker kills. The rich guy in the movie and you know, these are the bad people. And then you see Luigi man. Giovanni poem. Let me go take out this insurance guy because of what they're doing. And then in some temperature, all of a sudden, elevates, right? The one thing that I like, are you following this tiny car thing closely? Are you see, are you following that closely? I'm what's going on with the tiny car? So can you pull up the tiny car Trump idea? So here's a couple of challenges that we have. If you just go back and type in tiny car and go to news. Go to tiny car, Trump tiny car news. Pick one of them of what they're doing. Trump's tiny car dream. Okay, it's next one, if you don't mind going Rob. Third one, third one says, "Trump's tiny car dream has problems." Okay, so what are the problems? You see that Japanese Kai cars that he's talking about? If you pull that up. What do they look like? Yeah. Forget about what they look like. Honestly, when you're younger, you don't really care about what they look like. You're trying to find the thing that you can afford, right? Like even what you want them would can afford are two different things. Look what happened with car regulation in America, okay? During the 70s, gas prices three X in a decade. During the 70s. Gas went from 30 cents to a dollar in a decade. Who gets elected next? Reagan. Reagan comes out with something called the cafe. Rob, can you type in Reagan cafe cars? Okay. The regulation, which stands for corporate average fuel economy on the Reagan that he came out with us, you know, issues on how to address this. So then there was a couple different things that we looked at during that time. This led to, through 2008, 2011, 2012, they came out with new emission standards that the bigger the car was, the easier it was for your car to get approved on the emission standards that we had. Think about this atom. I don't know if you have this chart or not. Rob, if you don't have it, I'll send it to you here. Check this out. Just show this in and let me send you Trump's tweet on tiny cars. This is so interesting for all of us to be looking at because I think this is at least something that they're doing. Let me know when you got it. All the three ones, one of them is his tweet and then it's the pictures of the emission standard cars and how ridiculous it is. What we've done to the market with cars. We have incentivized companies to build bigger cars. He wants to introduce an 11 foot car. Now, the 11 foot car, a small sedan right now, it's 12 1/2 to 13 1/2 feet. Then you have trucks that go from 13 1/2 to 16 1/2 feet. And then you have the SUVs that go 18 1/2 and you have the bigger trucks that can go all the way up to 22 feet. A truck can go all the way up to 22 feet. And they do this because car companies like Ford are sitting there saying, hey man, this is allowing us to build bigger cars. Bigger cars allow us to go with lower standard emissions that we have in place. And we're making a shit ton of money. You know what we are right now? 75% of registrations of cars today, Dan, are either SUVs or trucks. 75% of cars being registered in 2024 are SUVs or trucks. Guests are making all the money. The automatic, they're like, oh yeah, let's keep doing this, right? Now watch this. That one right there, Rob. If you can make that one bigger. So check this out. Go back to that one. 20 25 standard on the vehicle footprint. The bigger the car, you see the footprint up top and a miles per gallon. The smaller the car, the more miles per gallon it needs to have. But the bigger the car, the less mile per gallon needs to have that it gets approved. So they're sitting there saying, you know, here's what we're going to be doing. So Ford's going to say, guys, keep doing this because we're selling cars and car prices are going to 50,000 dollars. We're making a ton of money selling these trucks. And then Trump comes out with this saying, I have just approved tiny cars to be built in America. Manufacturers have long wanted to do this just like they are successfully built in other countries. They can be propelled by gasoline, electric or hybrid. These cars of the very near future are an expensive safe, future, a fuel efficient and quite simply amazing start building them now. Thank you to DOJ. Okay. This was inspired by a car called the tapolino, the fiat tapolino. I don't know if you've seen the fiat tapolino, which it's the name of the car. It is eight and a half feet. And it gives you fastest it goes is 28 miles an hour. And it's 50 miles range is what it has, but it's cheap. And so then the argument on why these things they're not fans of. The other argument on the regulation is America has the widest lanes. Because we had so many accidents that was taking place because in Europe cars go like this because their lanes are very tight. If you notice the roads in Europe, you go to Italy. The other day, I'm in Italy driving a car. I got stuck. I was like 45 minutes. Do you remember this time? These guys are waiting for me. I'm like, I don't know how to get out of this. I'm literally in a car. We're just driving. We do rent an escalate. And they're like, this is the dumbest thing to do in Italy when you rent escalates. And we're in a road. I'm like, Vinnie, how do I get out of this? Vinnie has to get out of the car and come back. Do this. We're doing all the old school Middle Eastern stuff. But there was no edge to the pavement. Zero. But that's why they build cars like this in America. They build wider lanes. Fewer accidents. They saw the range of doing that. So to me, this could be a major opportunity for some auto makers to come out and say, I'm going to build the tiny cars. I'm going to build the starter cars. Maybe we go back to $10,000 car, $15,000 car, new $5,000 car, use some of these cars looking like this by the way, Rob. If you want to make it bigger, I don't know. I think it has to be something to do with homes, where they live, rent and house, something to do with cars. And I'm glad he's going there. But there needs to be actual solutions of what to do. What do you say about this, Brandon? Yeah, the common theme in all of them is regulation because I didn't know about the EPA thing right there. That's interesting because, you know, with homes, it's like zoning laws. They say add an extra 20, 30% of the price of a house. And then with that, that's obviously jacking up the price of it. So the solution to it is to make it more feasible to build more of it, make it create circumstances which is profitable for the producers to build more of it, and then the price will come down. But they've put policies in place that make it more expensive to build things. There's no reason that lumber and steel and electronics, all the inputs of cars and houses cost more than they ever did before. That's a policy-driven outcome. So if we get the policies to make those things cheaper, then they could build more of them, then it'll be okay. I'm going to come to you with this one, Dan, because a part of these new mission standards that Biden was pitching, that by 27, 2035, they want to get to certain levels and they want a lower gas-powered cars and they want to increase, you know, hybrid, you know, driven cars. And that model is kind of these regulations are preventing people from building cheaper cars because the regulation is tighter. And some of it has to do with climate change, and I know how you feel about climate change. What do you say about this? Well, let me just go back a second. So far, none of you have talked about the higher, higher death rate in these cars. And there was a study in the UK four or five years ago that you had a less than 50% chance of surviving ahead on accident and these little things. And so a lot of the country, especially Germany, who used to build tanks, you know, backed off it. And so in the environmentally, the gig is that right now the American petroleum institute says we have, let's say, say 15 trillion barrels of reserves around the world. And that's probably off by a factor of least three to five, because countries like Saudi Arabia, countries like Kuwait, because I had a 10 year relationship with Venezuela. All don't cheat the numbers, but they downplay the numbers. Okay. The Ramco, which is Saudi Arabia, basically, tried to go public for 25 years and couldn't go public. They went to New York, South exchange, Hong Kong, Beijing, et cetera. Nobody would take a public because the go public they had to have a reserve report. Meaning they have to have right or sky to one of the big engineering companies to say how much oil you really have, how much is produced in oil. No, but they wouldn't produce those numbers. So finally, Saudi, the kingdom decided, well, we'll go public in Saudi. So we'll take it ourselves. Nobody participated so that he made all government employees mandatory that they had about 50 shares or 350 shares out of their own paychecks to get it away. And so they only sold or took two or three percent of a ramco public and they had more than a trillion dollar valuation. If you knew this audience knew how many barrels of oil reserves were really in the world, my estimation oil would be five cents a barrel. That's great. Because there's 10, 20, 30 times more oil reserves and they keep coming up a secondary and tertiary methodologies to extract the oil. For example, the North Sea Bob Dyke, who was my partner when I went public many years ago, he founded the North Sea in Argyle in 79. And he said there's going to, at that time, it was only supposed to last 20 years. So by the year from 79 to 2000, North Sea should be done. Well, the North Sea still got 50, 60, 70 years left because of all the oil reserves that are still there. Great point. And so, but those cars, you wouldn't want, you wouldn't want your wife driving that car. Maybe you would, but maybe. So listen, my wife and I were having problems, why are you totally no fault? It'd be fixed within six months. You have an SUV, she has a little car. I don't want to see those accidents. I do not want to see an SUV. But this is hard for me to relate to. I've been driving rolls since '71 when I was a senior in college. And I've got drove a rolls of senior in college. How did you drive a rolls in senior in college? Silver cloud was 35 grand at the time. I scraped a three grand, because I was since sales. The other guys were driving town cars, elder riding, Cadillacs, and my sales manager, who was a bias racist guy, a lawyer from Mississippi said, "Pina, young boy, like you ought to be able to sell everybody who walks through the door, but you've got to differentiate yourself from the other salesman." The other salesman was driving Cadillacs and Continental's. So I went and got a rolls, 35,700 bucks. And I've been driving rolls ever since. Since 1971. What do you love about rolls? And how many people have them? Just that. Yeah, I'm a free rolls family now, and I haven't been for a long, long time. I could have flown up the airport. The first thing I thought, "Why did I land here?" Why do we have to drive an hour, but anyway. Yeah, most people, most people flying land here, John Morgan, from Morgan to Morgan, was here a few days ago. He lands on the airport, and then he asks his driver, "So, driver, how long do we have left? Do we get to the office?" He says, "Three minutes, sir." How long was that possible? Well, it's on the airport. Brandon, what do you say about this? That's a fantastic point you bring up about the oil. And I've been meaning to show these two charts on the podcast for a while. So, look at this. These are the biggest oil reserves in the world. That one's production, so I wasn't sure that one second. So, biggest oil reserves in the world. You know, the US is way down at the bottom there. But then if you go to production, the US is producing the most. So, imagine if we got the full potential of oil production out of those largest reserves in the world. Yeah, there's an abundance of oil that we're not using. You got to be kidding me. So, go back. So, look at this. And as well as number one, in the amount it's sitting gone. Yeah. But production, you don't see it in the top 10. Go to the next one, Rob. Look in production. Yeah. There's nowhere in the top eight. Yeah. So, what does that mean to? What does that mean? They're holding back. You need a working power plant turn around. But then is it holding back or is it because the US has put sanctions on Venezuela? Both. Which one's a bigger pressure? Well, the sanctions just started. So, the Venezuela has been doing this for 30 years. So, the sanctions just started. Why would they hold on to it? Because they know that someday, irrespective of what Elon Musk says, someday, you know, that oil is going to be worth its weight and gold pun intended. But the real, the big money, the guys like you, they're investing in water. That much water will cost more than a barrel of oil 15, 20 years from now. The big money, this is what they're investing in. I know not what the podcast is about, but I mean, so, but. And it's proof producing reserves are the ones that they normally use. But in Saudi Arabia, it costs about $1.40 to get a barrel of oil from under the ground to the service. Buck 40. I call it two bucks. I call it two bucks. And East Texas, it costs about 50 bucks. And the Gulf of America, formerly the Gulf of Mexico, it costs about 120 bucks. And the North Sea costs about 200 bucks. And it's about 40. How is that possible? Because you can get the oil with your hand. When Jay Paul Gettin found it all on Saudi Arabia back in the late 20s, early 30s, he was looking for water. And there's this ugly black shit that kept coming out. The better ones out there. What is this stuff? And then he, you know, of course, and then he got rich. And then he wouldn't pay ransom for his kid or grandson. Nothing. He wouldn't pay any money. And he said back with one ear eventually. And then he told him I got 11 more grand kids. So you got a lot of people that cut their ears off of this comment. Savage. Yeah. He had a pay phone in his house. And quick thing on that too. And tell me if you would agree with this. I think the scariest thing in the world for oil companies is oil going below 60 bucks a barrel. So I think that the 65 was where 65 was where they make money in U.S. Yeah, 65 to 80 is their comfort zone. So I think they have a vest interest to it and withholding that oil and not open up Venezuela's oil. I got something done. Go ahead. Well, you compare United States to Saudi. It's not even cut, it's not even close in terms of production. Texas actually is a bigger economy produces more oil than Saudi. And Saudi is known. Saudi Aramco, what $2 trillion market cap. Texas is bigger than Saudi. So people all the Saudi all these countries that are producing oil. America is the biggest top G on the block. Regarding tiny cars, my opinion is the average American dude does not want a tiny car. The average American person should not get a 50 year mortgage. Because Trump throws things out there, it's bombastic at the big, beautiful bill. There's going to be recalibration. There's going to be negotiation. Listen, if you're Jean Claude in Paris, go get yourself a tiny car. If you're just sent in Italy, go get yourself a tiny car. If you're an American, your name's Rick, you want a Ford F-150. You're not driving these tiny cars. I used to drive these little tiny cars around Miami. Before Uber hit Miami in 2012, 2013, right around that time, 2014, Miami dropped off. I think a thousand of these cars all over the city. And you would tap it when you would go in and you'd use it for five minutes at a time. You do not want to drive these cars on the highway. Talk about accidents. You drive it to Miami to Lincoln Road, whatever. You leave it on the side of the road. It's kind of like just renting a bike, but it's a little tiny car. Do not get a car like this if you actually want to get late. Yeah, I had a girl at the time. Yeah, with those guys, you know, come back to that one. So you're saying there's no room to jump into the non-existent back seat. There's no back seat. Okay. Exactly. Okay. So there's the standard. What's up? I don't know what you're going to have to say. Go ahead then. Still want a car as a chick magnet. Yeah. The new generation. Of course. Okay. I didn't even think about the back seat angle, but you always think about the back seat. Back seat. Okay, Dan. It's plenty of room in the rolls. You're not going to have a hard time with that. You're just of a rolls, followed Dan paintings. By the way, this transitions into, you know, the next story I'm going to get into, which is the president talking about immigration in his speech. And he asks a question. He says, why are we getting so many immigrants? Rob, you know, which club I'm talking about, the one where he says, let's get some immigrants coming here from Sweden. Okay. Let's get some immigrants coming from Eastern Europe. I agree. Why are we getting some, you know, folks that are coming here from, I'll just let him tell you for you. Here's the president. Go for it. I've also announced a permanent pause on third world migration, including from hellholes like Afghanistan, Haiti, Somalia, and many other countries. I didn't say shit all you did. Remember, I said that to the senators, they came in, the Democrats, they wanted to be bipartisan. So they came in and they said, this is totally off the record. Nothing mentioned here. We want to be honest because our country was going to hell. And we had a meeting. And I say, why is it we only take people from shithole countries, right? Why can't we have some people from Norway, Sweden, just a few? Let us have a few. From Denmark. Mine sending us a few people. Send us some nice people, do you mind? But we always take people from Somalia, places that are a disaster, right? Filthy dirty, disgusting, ridden with crime. The only thing they're good at is going after ships. But they don't go after our ships, you know why? Because that same missile that knocks the crap out of them, that with the drug deal is from Venezuela and ours. I like the guy in the back. Persians for Trump. Gotta love it. So, what do you think about what he's saying to you? Why are we getting folks from Somalia, Afghanistan? We're not getting from Norway. Sweden in those countries, it's from the womb to the tomb. They take care of you. I mean, they don't have a lot of the problems that people that are from Memphis, Tennessee or Chicago, Illinois. Because from the time you're born, you're part of the system and you stay part of the system until they bury you. And nobody's starving to death. So why would they leave? Why would they come? They don't want to come in. They like their homeland. Exactly. And by the way, I think that's what the lady screamed in the background, right? Because she said, it's because they love where they're at. I think that's what she said in the background. Tom, what do you think about the speech on what he's saying about shutting down from certain countries? And then the comments about why we're not getting people from certain countries. Well, if you like your homeland, you can keep your homeland. I'm going to make sure of it. You know, it's sort of things that we saw in Southern California where we saw Mexican people who had immigrated legally that were in some of those northern states where the cartels were such a horrible influence. And so they literally want to leave a country that is horrible. And they would come to the United States legally. And we used to see in Southern California, those people saying, I came here for opportunity. I came here legally. And every time I turn around, people think I'm here illegally. But they wanted to come here. The guy yesterday, the Vietnamese guy that was in the car, demonstrating that not only did he learn to speak in English, boy, he learned how to swear really well in English, is he was pointing out that he came here from Vietnam. And he learned the language and they built a business and sure he lived in a neighborhood with other people from Vietnam. But he came here to be in America and to live in America because what he was leaving is a country that had a lot of problems. And this is the statement that is on the bottom of the Statue of Liberty right on it. Give us your tired, your poor, your huddled masses yearning to breathe free. The wretched refuse from your teaming shores. I memorized that when I was in school because what the message was, hey, we've got something better for you if you want to come here legally. And but when the Democrats turn us into refugee central, that's where all of America draws alliances. Wait a minute. These aren't families and good people wanting to come for opportunity. You're just opening up the doors and we are going to become the city dump for all the people that are coming over here. And there are bad apples in that lot and that's where it begins and ends for me. And I'll defend those Mexican people in an L.A. who would have people say things to them and I say, hey, dude, that family came here legally. Do you know the story? Get off their back. You know, you're perceiving, are you Mexican? Hey, when did you walk across? No, no, no, there are good people that came. There was also a lot of bad people that just came across when the Dems opened the doors to refugee status. And it's the refugees we don't want. It's the honest people that want to come here for opportunity that we welcome. Adam. Well, to me, it's a culture issue. So not all immigrants are exactly the same. Listen, we're all children of immigrants. We're all moved here from somewhere. Your family has came from Iran. I know you live in Scotland now. Right? But my family's from Mexico. Your family is Mexican, Brandon, your Italian of some capacity. Tom is Canadian, European, my family's Russian, Ashkenazi, Jewish, but not all immigrants are the same. The biggest issue is not so much. He named a couple of countries. For instance, he said Afghanistan. There's a culture issue between Afghanistan and the United States. I'm sorry. Major culture issue in Somalia. Difference is you have Cuba. You have Haiti. I grew up in Miami. Have my friends are Cuban. Haitian, Jamaican, Venezuelan. There isn't a massive cultural difference. They're still the same framework of religion, culture, family, society, values. Not that people from that side of the world in the Middle East don't have the same culture. Well, let's be real here. If your country runs on Sharia law, it's not going to work in America. If you're in Cuban, the biggest issue I have with my Cuban friends in Miami, I've said this before. There are people who have been here 10, 20, 30, 40 years. I'll know in English. You're telling me you've been here 30 years. You speak zero English, Pedro. Don't hesitate to open and say it in English. But if you just want to be broke in Cuban or Haitian and never learn English in a Miami, you can do that. But we don't worry about these people. They're working. They're doing whatever. They're not trying to dismantle America. Like a lot of the Islamist culture that comes into America. You speak English. How often do you go to UK? How familiar would what's going on in America? Well, I live there. Yeah, so you're there. Is it like nine months out of the year, ten months out? I travel three and a half months and I'm there the rest of the time. What have you noticed happened there with specifically because I just saw something that said you've lived in Scotland since 84. 84 when you watch your, I think the castle that you have in Scotland. Yes. What have you noticed happened to UK London from 84 till today? Let's go back to the 70s and first the Russian money, 70s and 80s, the Russian money, propped up property prices, triple quadruple, and may fare. What most people don't know is property prices and may fare have gone down 21 of the last 25 quarters. Nobody puts it in the newspaper because it'll be a self affiliate prophecy after the Russians then came to Saudis. The Saudis they would buy Mercedes and if it ran out of gas they left it on the road they go buy another Mercedes. And so they they propped up prices the same in Beverly Hills, California as is the my states, the guys that are around me that have been there. Seven eight nine hundred years, the their properties, some of them cashed out and retired. Even though the property has been in their family 500 years when a Russian or an oligarch comes and comes in, offers you 10, 20, 40 times what it's worth. Fine, you want the furniture, the napkins, the pictures. I'll leave my wife here if you want. Exactly. Exactly. So I've seen that. I've seen that and I've also seen that the liberalization, now we have about one two thirds of the police that we used to have, we have now two thirds of the police used to have. We used to have. We used to have a less police human, a third less, a third less. And the cops there, if you watch, they make fun of them sometimes they go viral, you know, four or five cops trying to. Well, there's two immigrants, okay? And you can't hit them, you can't do this, you can't do that. You go to Germany, you go to France, boom, boom, boom. You know, it's, it's the old. Not in UK. No, not in the UK. You have to really do something awful. And the, in parliament, which is archaic, I'm a UK citizen and a US citizen. Parliament is probably should have been done away with two 300 years ago. It's an old system, but they like the pomp and circumstance, but that's reason for 30% of the people that visit the UK is for that pomp and circumstance, the changing of the guards, you know, under the old queen and now the current king. It's, but it's deteriorated before the 50 to 75 billion pounds a year that they used to cause the support to the world family wasn't even thought about. Now the budget is down to around 20 million pounds, which is still a lot of money. But you go to the Buckingham Palace last time, Sally and I were there not being brought up, it looks worn out. I mean, it's like, you know, when you see a carpet that's walked down 40 million times, that's what it looks like. Okay. Buckingham Palace. Buckingham Palace. Correct. And the king doesn't want to live there. He lives in another house down the street, which we would consider a palace, but it's not a palace to them. The only thing that they keep new are cars, because rolls gizzling the cars. They're not buying those cars. Okay. And so I've seen a deterioration, but our daughter was born there, our two sons started their education there. And when I went there in '81 and I bought in '84 for somebody that was, for me, it was like Pandora's Box, a young aggressive guy. I mean, I just made hay while the sun shined. And now it's less that way, but it's still, it's a foothold for Europe. And when I first went there, the wall had already come down, but remembering back when I was the Army officer, they had iron curtain. And the East Germany, who got liberated supposedly in West Germany, Germany merged with them, but Europe's a different place, but there's two different lifestyles. If you're in Spain, Portugal, Italy, as opposed to the countries that we talked about that they take care of you from the womb to the tomb, it's like Mars and Venus. Okay. And the UK is kind of in the middle. But it's a great place to visit. I'm there. It's the only house I have anymore. Not exactly a house, but it's the only place we have anymore. And it's absolutely terrific. But the business opportunities today vis-a-vis Trump. And one of the reasons I'm still working, I extended, came out of retirement is Trump is good for my business. Trump is good for business. Period. They sneeze in New York and they catch a cold in England three years later. Okay. And so he's good for the economy. We all know that everything he does, he has a propensity, like I do, of having his hummingbird alligator mouth overloading his hummingbird ass. What does that mean exactly? Pardon? Alligator mouth overloads his hummingbird ass. What does that mean? That means he sticks his foot in his mouth. Okay. We all do it from time to time. He does it at a whole different level. Great point. Can I just say one thing back to this in a story? By the way, it comes down to leadership. Trump saying things that are shocking, inappropriate, offensive. But are they wrong? I would argue that he's saying exactly what needs to be said. If leaders in Europe started speaking like this five, 10, 15 years ago, what Europe have this problem? I think not the biggest problem with Europe. All their leaders are weak feminine men. The leader with the biggest toughest, strongest balls in Europe is a woman named Georgia Maloney. You know, digest that for a second. They rather be like ineffective. Exactly. Trump is saying the quiet part out loud that everybody's thinking, hey, do we really want these simoleons here? Do we really want this gaze for God? Do you still go to dinner in London? Do you still go to restaurants in London? Yeah. You do. Do you feel safe like you did 40 years ago? Well, 40 years ago, the IRA were blown by restaurants up. They used to have sandbags. If you were a new customer, they put you in the front door where the bombs went off. If you were an old customer, they put you in the back of the restaurant. So I've seen that transition. But for the most part, yeah, I still feel safe. I, Sally and I were in Dublin not too long ago, and we were in Northern Ireland not too long ago. And, you know, they attacked the bus still, you know, well, I was on a tour, giving speeches in the, you know, people in these little people from Iowa sitting there, I felt sorry for him, you know, my age. But I mean, they were peeing their pants because these people were rushing the buses and throwing themselves in front of the buses. And I kept yelling, run 'em over, run 'em over. Wow. Yeah. So I'll tell you who's fault this is exactly. It's LBJ's fault. So nobody talks about this. But the civil rights bill, like there's all these little time bombs that are hidden throughout, like bills and policies in the US history. So they changed the quotas for immigrants that the US would take in in the civil rights bill before 65 was 85% people from Europe after that they flipped it. And it was 85% people outside of Europe that were allowed to immigrate to the United States. So that drastically shifted the types of immigrants we got. And that's where it all changed. That's why it's different. Same thing happened in Europe, like that. And he sold it to the Americans as the great society. And it actually changed before that after the Civil War, who was against having the slaves freed the Democrats, you know, 82 Republican senators, whatever, three of which were black. And so, whenever I see, and I lived in the South for a while, and whenever you hear the civil, back when they had black and white bathrooms, you hear them screaming about civil rights, but they were no friend of civil rights from the very beginning. And it was the Republicans, but now they flip that. They flip that somehow. And as they flipped a lot of things. But, you know, unfortunately, I mean, you know, there are places in the Democrats, they get when they were talking about Jerry Mandarin, switching the what he calls around. They they did it under Lyndon Johnson. And they've been doing it ever since. The fact that we, I say we Republicans that I'm a registered Republican, but there's parts of the South, you don't tell people you're registered Republican. You just don't. When I keep thinking of my next-door neighbor, and rolling hills, and Pavel's Verties, she was the daughter of the shot's doctor. Okay. And you know what I'm talking about. Okay. Of course. And they always talk. They came with a t-shirt on the back. And, you know, and to live up there, you had a lot more than a t-shirt on the back. And then her brother came to visit one day. And how they were talking about the people that trained cars full of money and gold and antiques and and the shot's doctor left a year before the shit hit the fan. Wow. Seven seven seven. Yeah. And so she, and how now she's she must be 75 now because the shot would be 100 and something. Yeah. He would be in his, yeah, he would be in his late 90s or early 100s, something like that. Very, very interesting when you go through this to see what's taking place. Let me get to the next door here. Next door I want to go to is with what's going on with time Warner. Who's going to buy these guys? Right. Netflix offers 72. Then you get, by the way, that's a beautiful castle. Yeah. Who's house is that? Rob. Did you just buy or is that Dan Pena's castle? That is sir. Wow. Dan Pena. Yeah. To be correct. What, what can you tell us about this castle? You've been there since 84. How many bedrooms? How many square feet? How safe? Do you feel there? 55,000 square feet. 55,000 square feet. And right now it's just you and your wife live in there. Four dogs and some staff. But it was given by James this fifth of Scotland to Sir John Guthrie in 1468. The land. They got 2 million acres land along with that. When I bought it, I only had 156 acres left. And so were you in the market for a castle? No, I was in the market. I wanted to be near the home of golf. And that's very near St. Anne's. Yeah. And so and I thought I was retiring in 884. But the guy that I left to be CEO at 40 had a heart attack and dropped dead. And so the shareholders, the shareholders brought me back this time. But nine years later, the shares hold us to me out. So I've been full circle. Dan, I don't see any cars, no rules, Royces. Maybe there's a tiny car park somewhere. I don't know. But the car park is to the right over the trees. So it's 55,000 square feet. It's just you and your wife. What room haven't you been to for years? The game room. You have them into it, which is up in the tower, which has got, you know, modern games that the kids play a snooker table and stuff like that. Got it. There you go. It's my arm, Dan. I'll move into the camera. So we got Netflix that tries to buy time warning for 72. Then he got Ellison comes out with a house that'll take over 180 billion out of offer. David Ellison yesterday says, do you have that clip that he says? He promised White House sweeping changes at CNN. I don't know if you have that clip or not. But. Here you're talking about his conversation with the president about the murder. Got it. So watch this year, folks. This is David Ellison trying to buy time warning. Go for it. A couple of real quick things for wrap up. I mean, CNN. I assume you would combine the news gathering operation with CBS's if in fact you did on that asset. Yeah, so look, we've been really clear since last summer here what we want to do with news, which is we want to build a scale new service that is basically fundamentally in the trust business that is in the truth business. And that speaks to the 70% of Americans that are in the middle. And we believe that by doing so, that is for us kind of doing well while doing good. And we believe in that business model. And we believe it's essential. And do you do you think the president embraces the idea of you being the owner of CNN given his criticism obviously for that network in the past? But by the way, we've had great conversations with the president about this. But I think what, but I don't want to speak for him in any way, shape or form. Got it. So Tom, what do you know about what's going on? Because he just showed me something right before we went live. What's going on here with the steel? Well, right now, yeah, this is like an auction going back and forth. But unlike an auction where we all sit around the table and we all have a number that we hold up. Maybe we bid for a baseball card or a rare car or a piece of artwork at an auction. Right now it plays out in the media and you have two bidders that are now in an auction for Warner Brothers discovery on one handy up Paramount, which of course is Skydance and the Ellison's you just heard from David Ellison and the other side you have Netflix. And right now Netflix put a bit up and the good folks Warner Brothers Discovery. So we like that bid. We're going to take it. We're going to work with you exclusively. And Paramount said, wait a minute. We don't think that this was a fair process and we're not going to sue you, but we're going to say this attention shareholders were offering you $30 a share. And that's called the hostile and then people respond to it, such as this guy, Mario Gabelli, who runs Gabelli asset management 31 billion under management. This guy's a player. He's worth $2 billion well known. He's like 82 years old, but 31 billion under management. He came out and he said, hey, I have bought a good amount of Warner Brothers discovery that's owned by many of the people that I'm managing their money. And I have to tell you, we like the $30 a share offer and I'm inclined to take that. This is exactly and then they find out, okay, how much does he own now three and a half percent. Okay, well, we got three and a half percent now voting for it. So now this is going to play out. And this is what the hostile does. Now you've got people saying, I'm behind the Paramount hostile offer. I want $30 a share, not the $27 a share. And now the question is, is Netflix going to get behind it? Then people said, here's story number two, Pat, where are you going to get all this debt and all the sudden some names popped up? Here we go. Jared Kushner said, I've got plenty of friends and we've got money from Saudi funds. He didn't say PIF with people assume it was the Saudi PIF fund. And he spoke up. Then a consortium of large institutional investors from tell me we've heard this word, Qatar and Saudi and Abu Dhabi came up and said, well, we've got plenty of money and we could put it behind. So all the sudden, it's like you're at a gang fight and five guys with a lot of money stand up, you know, behind Ellison and Skydance and says, we're backing them up. You know, two guys going to fight in the street Pat. Hey, man, I'll kick your butt. Who's backing you up and all the sudden these guys stand up. We're backing them up. And that's kind of what you have here. Now you've got him. People saying, do you have the ability to do this at 31 share that and more. So that's where we are right now. But it's very interesting. This is how the hostel take over his work and you got guys like Mario Gabelli going to the microphone and saying, I'll take the hostel offer. It's better for my shareholders. Yeah, so Saudi, Qatar and Abu Dhabi are going to put up 24 billion, which is 2x what Ellison's are putting up 11.8 billion for to take over and having Kushner involved. This is the time. This is almost making it. So, so then here's a question. You're in the Netflix boardroom. Netflix, just a week ago, not even a week ago, four days ago, three days ago, they're like, this is this is over. We're picking it up. It came out of nowhere. We're going to whether they're celebrating. Yes, we're going to get all this new stuff on Netflix now from time one. It's going to be great catalog. What do you do now for Netflix? Who you calling? Who what influence do you have? Who's on your site? Who you going to call that doesn't like those Abu Dhabi Saudi Kushner? Who you calling if you're Netflix? Or you're just saying guys, it's over. You get to ask yourself if you're Netflix, how bad do we really want this asset at this point? I mean, we want it bad, but are we willing to pay this much to get it? And what was the price really going to beat us in terms of operational leverage and the interest on debt that we're going to have to pay? We want this bad, but do we want to pay that kind of a price long term to operate it? That's the question for Netflix. You know, as everybody has looked around, I mean, the rationalized in the room and I think I'm among them have said, you know what? I kind of like Warner Brothers Discovery here with Paramount. I kind of like Netflix, which is now very huge and I kind of like Disney and I kind of like the three of them competing each other for the consumer. I kind of like that. I'm not sure I want Netflix to get even bigger. So, you know, and I think I'm one of the rational guys, in my opinion, you know what I would be looking at right now from Netflix? I'd be looking at Bob Eiger, okay? Because the perfect case that he is, who has done this in the past before, or it's only one guy, and that's Eiger, what did Eiger do? About Star Wars, about this, about Marvel, about everybody, right? One by one by one, when he was going around buying everybody, how did that do? Did it work out? Maybe it did work out? Maybe it's the woke stuff that didn't work out for them. You know, but when you think about what's in the time, Time Warner catalog, top three largest library in Hollywood, okay? You got DC Universe, you got Harry Potter, you got Lord of the Rings, The Hobbit, The Matrix, Mad Max, The Conjuring Universe, Stephen King's Library Elements. Godzilla, Lego movies, Creed, then you have the old school stuff, The Wizard of Oz, Casa Blanca, Singing in the Rain, Rebel with a Cause, Ben Hurr, and then you have the HBO, because that comes with it as well. Game of Thrones, which is legendary soprano succession, The Wire Euphoria, True Detective, Sex and the City, Curb Your Enthusiasm, Board Walk Empire, and then you have a couple other things. You got real sports, hard knocks, decades of award-winning documentaries that HBO has done. On top of that, you get friends, the series. You get the Big Bang Theory, Young Sheldon, ER, West Wing, Gilmore Girls, pretty, pretty little liars, supernatural, two and a half man. And then additional, The Lord of the Rings, The Hobbit Final Destination, Nightmare on Elm Street, Rush Hour Blade. By the way, if I keep going here, you're going to sit there and say, "Are you freaking kidding me?" So how many chances is Netflix going to get to buy a catalog this big that they just fit into it? Well, this is why one, and this is why it's now a public hostile takeover with an open bid. Are you saying it's done? I don't think it's done. I think ultimately, ultimately Paramount wins because they're in startup mode and they'll be more willing to take a little bit of pain and go forward. And I believe Ellison is a longer term thinker, and I just don't think that Netflix is going to be able to stomach the price. And then, and then now you handicap this fight, Federal Trade Commission. I think this is downtown because of one common Trump made. I think this deal is done. It's going to Paramount. I think it's done. Let me tell you what the comment was. Trump made that one comment and said, "Look, I had a great meeting with Ted who was phenomenal." Ted Miranda was from Netflix. He's a very smart guy. However, they're going to have to look into if this still can even get done because again, he get too big, too powerful. So if I'm on the Netflix site, Netflix is sitting there saying, "Will they even allow us to buy it? FTC? Will Brandon Carr, is that the guy that runs FTC? Am I saying it correctly, Rob?" "Will they even allow this thing to happen? And is Brandon Carr going to side with us at Netflix? Are they going to side with Ellison's?" Because look what Ellison said. What did he say? He said, "We want to focus on the 70% of Americans that want the truth, and they want it to be fair." Not the 30% that's looking for what? You know, hysteria and whatever kind of reporting, they want to go back to that. And who loves, not like, but love hearing that. Yeah, I think, of course they love hearing that. And who's probably sitting on the sidelines worried about Ellison's picking it up? A company that's been dominating for two decades. Fox News. Fox News. Because you don't think secretly Trump would like Fox News to have competition. You don't think Trump wants Fox to have some kind of competition. Because nobody knows what's going to happen with Murdoch's kids. Nobody knows what Lacklin's going to do. And we've seen his angle, and he ain't his dad. What do you think about this, Dan? Do you have an opinion on this? I'm a big believer, and succession never works out like your plan. Man-pans, God laughs. And so getting back to Murdoch, he thinks that the oldest son that is apparently the winner of the battle is going to do what he wants. He may do what he wants while he's still alive, but that doesn't mean he's going to do what he wants, the old man when the old man's gone. And I wouldn't be surprised if somehow Murdoch didn't stick his thumb in this deal, but I said that if you remember back about four or five months ago, there was an M&A fight president. It was Elon Musk on one side of the president and the head of the Saudi sovereign fund on the other side of the president, and they were whispering whatever they were whispering. And the future is coming from the Middle East. Even though I think that Dubai is Las Vegas without slot machines, they're going to have slot machines someday, and they have all the money in the world, and then some, and they're not even tapping their real wealth. And the other thing is that the Middle Eastern after being partners with the Kuwaiti government, the Autobots for almost 10 years, they're 50, a hundred year planners. They're not planning for the next quarter, you know, and they know someday in 3,000 years, they're going to run out of oil. Okay, not in 30 years or 50 years. And so that's why there's been such an outflow of money and they've been building up the Middle East. Do you think they're doing a purely, do you think Tom Dan, do you think they're doing purely for investment purposes, or do you think they're doing it also to have some influence because I wonder what level of influence you think that's what it is. So what what what give me an ideal three things that they would like this new media platform do as influence to highlight Saudi to help Katar and to help Abu Dhabi, what does that look like? One like out to zero, you know, and they look at whatever happens in the Middle East with a not such a biased eye. Okay, I'm not saying it's not biased the other way, but so they're going to get positive influence around the world and the media and they need that. The next generation of Middle Eastern managers, the when you get outside the top two or three guys are young guys. Some day they say there's going to be young gal there, but I don't believe that. They're young guys. And so they think very much like this young man does about things differently than we think. He's my generation thinks so they're going to get a different flavor and they need that going forward, but they're not concerned what happens in the next 50 years, they're concerned what's going to happen in the next 100 years. And right now there's no US investor that I'm aware of that is concerned about the next 100 years, they're concerned about the next quarter. I think it's investment or do you think it's influence if they're going to be, you know, 12 billion, you know, of the 24 billion, they're kicking in 12 billion and the they're kicking in 24 billion and Alison's family is putting 11.8 billion. Do you think they're going to be having some sort of influence? Hey, we want you to make us look better. We want you to make us look. Middle East, Saudi, Qatar, Abu Dhabi, you think it's just a check. You know, there's an article here about how Ray Dalio says the Middle East is becoming the Silicon Valley of capitalists, which I wanted to discuss. So you asked the question, is it business? Is it marketing? What was the question? The other day, I bought into this company that we talked about on the podcast a few months ago, Tom and I called them, boom, deal is done, money's in, we're happy. But it's it's an investment. I'm not looking for that's influence. Do you think they're just sitting there saying, we want to put some money, they're diverse by 24 billion because we think in the next 10 years that 24 billion is going to be $100 billion. Or do you think they're putting 24 billion saying, hey, man, you better make us look good as well. Sometimes don't be too harsh on us. Don't be too harsh on Qatar, Saudi and Abu Dhabi. Well, it's a little bit of both because if you look at it from, you know, this perspective of who's actually running the Middle East, you know, this this article was written by CNBC conveniently left out who's arguably the undisputed champion of the Middle East when it comes to Silicon Valley, which is Israel. All these other countries, whether it's Saudi, whether it's the UAE, whether it's you mentioned Kuwait, whether it's any of these Middle East and Gulf countries, they have number, their number one only export is oil and gas. That's it. That's all they got. What Israel is doing is actually building tech technology water, you mentioned water, what Israel is doing water and desalinating water is going to save the Middle East and a lot of countries talk about peace deals, a lot of these deals are going to be framed. We need water because we're in the freaking desert and world thirsty as hell and we're going to need Israel. So a lot of these countries are going to have to use this for survival and forget their jihad tendencies. So as far as diversification, you can't just rely on oil because in the next 20, 30, 40, 50 years, how much the world is going to run on oil significantly less, right, going green, green technology. So they're diversifying. The other component is, yes, they do want to modernize. They want to do enter the modern world. They don't want to be left in the Middle Ages or the Stone Ages when Muhammad was running around. They need to step into the middle into the modern world and compete. So a lot of these countries, their only foundation is oil and they need to diversify and have other things going on time. So I appreciate the segue to Israel, but to focus on just these investors here coming on the Netflix deal. There is a little of both going on. They got into F1. There's like three races that are out there on the peninsula. And then you've got what they did with Liv Gulf. And you see how Doha is being built. We just talked about the housing in Doha. I did more research after the podcast yesterday. And it's only five hours from London. So it is a short tribe. It takes you less time to get to Doha from Southern Europe Pat than it would take us from LA to get to Honolulu. So it's actually a convenient place to go and it's clean. It's new. It's all kinds of things going on. They're doing three things. They've been westernifying up to a point. Come here. Enjoy yourself. Bring your dollars. But you know, on the back end, it's still Muslim country. They have been some people called it sport washing, you know, instead of white washing, sport washing by investing in all the sport to bring people there, but they've also been investing. This is not their first investment. A PIF put a giant amount of money into we work. PIF money is in I believe in Uber. Very large amount in Uber checked me on this before Uber went public. And so number one, they're increasingly shrewd investors Pat. But in this case, there is also the opportunity to carry messaging to say, hey, there's nothing wrong with Jetta. There's nothing wrong with Doha. Come on over here. Enjoy yourself. Be part of it. So if I had to split it, I'm probably thinking, I'm going to go one third, two thirds, two thirds, it's investment because that their core, they're pretty stupid business people. And one third, it absolutely they'd like to influence perceptions through programming like product placement. And then they'd also directly like to, you know, influence news. It also comes under leadership, look what MBS is doing in in Saudi. I mean, we were at the American business form, put on by Mayor Francis Wars, we talked about earlier with PIF money. There was all sponsored by the Saudi PIF fund. So they're modernizing and every country wants to things, peace and prosperity. And the Middle East has been ransacked by lack of peace and a lack of prosperity. So leaders like MBS and the Kingdom of UAE. Say we need to do what we can to basically have that in our country. What's what's Ray Dalus saying here? Ray Dalus talking about capitalism. Yeah, he's talking about Saudi Arabia and how it slowly becoming the new Silicon Valley. Is this what Adam quoted earlier? Is there anything unique in their outside of that award? That's pretty much it. I think his take is sorry, Adam, a little bit better. Who's way racing? Today, I've been coming here for 32 years. So I've watched it evolve from the founder, cheeks I add, to his children. And I think it is the closest thing we get to a paradise in a world that's increasingly in trouble. And they have a great investment management expertise because they have lots of money that they manage for themselves. But when it's coming to money management, that creates a community in which other investment managers come here and it creates this vibe like a Silicon Valley of investing. This statement of capital of capital is not just a buzz word, you know, or slogan. It is that if you want to be in almost the Silicon Valley of investment management, there's an excitement to being here. It's particularly enhanced by the combination with AI. You know, I would say these are the two biggest commitments. We think of the Abu Dhabi as being oil. And of course it is. But really now asset management because of the amount of assets they have and how they're doing it. And also AI because of the commitment that they made earlier and now is creating that kind of vibe. And that's bringing together very interesting people to create a happening environment. There you go. I'm also asked Ray Dalie what his point was, but I just want to refrain from doing anything like that on this. He's been saying a lot crazy stuff lately. I don't know how much credibility I give that like the stuff he's been saying about China. I don't know. I don't think there's any questioning Ray Dalie was credible. I know it sounds a bit absurd because he's the most successful Hetchwell manager at all time. What do you think he lacks credibility? No, it's like I know that the Middle East is deeply worried about their dependence on oil. And he's making sound like they're much more successful than like tack and tourism. Well, I mean, it's very simple. How much of his net? How much of Ray Dalie's net worth is tied to China and it's tied to here he was talking about who Middle East is he talking Middle East or is he talking. He was being very specific about Abu Dhabi coming here for 32 years. I knew the prints. That's how he started. So can you say how much of Ray Dalie's net worth is tied to China and Abu Dhabi? How much is he investing in today? Yeah, let's see. Yeah, how much is he investing into that? Which by the way, let's see because to me, I don't know if I see that as a let's zoom in a little bit 15 billion hours to Nate. For example, to know in virtual reporting managed about seven and a half billion hours in China specific funds. Okay, but that's his firm attempts to manage a billion dollars in China. We've always known that as far as Abu Dhabi Middle East Dalie has recently supported initiatives there. Back in a global a finance center, I index at NYU Abu Dhabi is spoken positive about the regional potential. Public sources do not break down the network title. Three billion out of figure of Chinese businesses refers to investments in Chinese business, but doesn't necessarily a threat current value. Okay, all right. So, you know, right Tom, what do your thoughts on what Rachel said there? Well, he started. I cling to first of all, I'm not team Dalie one way or the other. And what I heard a guy say I heard a couple things. Number one, I've been here for a while and so I know what I'm talking about. I've seen the evolution in the new generation number two. He said it's the Silicon Valley is not becoming Silicon Valley. He was using Silicon Valley metaphor. It's become a Silicon Valley of money management and investing. Which I think is correct. And he says they have a lot of their own money. And so the first thing they do is they've been managing the home team is what I heard him say. Managing their own money. Now does he have a lot invested there? Well, we don't know, but for Bridgewater to succeed, it probably has to be a global fun. It can't just be an isolation is fun. And so he's probably, you know, being nice to his hosts because where was he sitting when he said these nice words. And he's probably being nice to some of his investments because I think there's a zero chance that he has zero invested. And so I think that he's knows what he's talking about. They'd have managed their money very, very well. They do manage their money first. And yeah, some of the things he says can be a little wonky, but that's what I read from what he said. I didn't see anything that I would say, wait a minute. Well, let me let me kind of share something with the audience. The other day I saw something. Rob, if you don't buy pulling up what Kevin Durant has done quietly with his investments, have you seen this Kevin Durant basketball player? Okay, watch this here. Very interesting when you watch some of this stuff on how quietly what he's doing. He invested in. Rob, you are all the way at the end. I believe you got to go all the way to the front. Is that the first one? Okay, keep going. Okay, Kevin Durant's investment track record is elite. Watch this. Go to the next one. He invested in WAP series B in 2017 valued at $100 million. Now it's valued at $3.6 billion. 36 X return. Meaning if you would put two million in it, it's now $72 million. Go to the next one. Invested in Robinhood series D 2018 value at $5.6. Now it's worth $119 billion. That's 21 X. You put $2 million. You have $42 million. Go to the next one. He was also a voice for Robinhood. He was a voice for Robinhood. Invested 250 in a corn series B in 2018 valued at $150 million. Now valued at $2 billion 13 X return. Keep going. Invested in draft King series D in 2017 valued at a billion out 17 billion 17 X return. Keep going. Is that it Rob? Do they okay? Invested 250 in Coin Bay series E in 2018. That's E valued at $8 billion. Now 75 billion a 9 X return. Keep going. Invested in post-made series D in 2017 valued at $170 million. Now it was acquired five years ago for $2.6 billion 15 X return. Go to the next one. Invested in overtime series A in 2018 valued at $40 million. Now it's valued at $800 million. That's a 20 X return. So when you hear stories like this one, I don't know Kevin, but good for him for doing things like this. You need more examples of this in the NBA, but a lot of this stuff that when you hear about stories that he has, you know who else had a story like this magic Johnson who just became a billionaire when he worked for Jerry bus. He would always talk about that Jerry the benefit of playing for Jerry Jerry was able to do something can do it in the NBA anymore. I don't know if you remember this deal Tom, but I think Jerry gave magic 5% equity of the Lakers. Can you pull that up prop if he did give him 5% equity of the Lakers. So Jerry sat there with my with magic and said, look, I'm not only just going to help you with because I'm not going to help you with the game, but I'm going to help you with business and magic set turns and said, man, I want to listen to this rich guy see what he's going to say. Magic is a billionaire today guy went from being a basketball player, I believe he was at Michigan State, if I'm not mistaken, Tom, he goes from that to being. Yeah, so the commonly number is that magic at 4.5% stake, reportedly paid about $10 billion for the shares. Johnson later on sold his shares in 2010 to Patrick Sung Sean, who's a multi billionaire about the L.A. Times, so I think $500 million correct that same guy who is trying to help people out with cancer right now. It's very interesting stories with him. He's become a very interesting character, but if you're watching this, the average person, that I'm going to come to you with this one. Say I'm an average guy, I don't make a lot of money. Say I make 80 K year, I make 100 K make somewhere between 80 to 250 per year. Is that considered average? Let's just say 80 to 250 our audience, our audience, their business people, your average is $50,000 median income, $50,000, $70,000, but I'm going to somebody that's doing 80 to 250. What should I be looking for? Where should I be investing my money? I'm not a business owner. I'm a either an executive, a manager, somebody that's doing their job right. What should I be looking at would investments for the next 10, 20 or so? I have some opportunities like this as well. Unless you're going to be a full time investor, meaning you're not going to work at a job, you're just going to do research all the time. I tell people to go and look at the five best funds, fatalities, et cetera, five, 10, 15, 20, 25 year results, and take a mix of that and put your money in, and I recommend they invest monthly. And so it comes out of your paycheck, et cetera, and then you wake up 10, 20 years later, and you've got a, assuming the country doesn't bust, will have big, got a money. The guys today, if you look at the ads on the television, and at the bottom, if it's trading, or if it's derivatives, or whatever, it says on the bottom, between 65 and 87% of all these investments don't make money. Nobody reads that part. They just put their money in, and when they wind up losing it, they go to what's that column on the internet that you say bad things about people. Is it value payment? No, no, no, no, he's talking about what is it? Is it X or no, you're not talking X, he's talking about what is that place that everybody talks bad shit about it, read it, read it, read it, read it. Then you go on, read it, it didn't work for me. Okay, okay, by the way, just so you know, what you just said, there's a story that came out yesterday, maybe two days ago, from Wall Street Journal, okay, to the average person who doesn't put money in 401ks, watch it is, 401ks are minting a generation of moderate millionaires. Studies saving by many Americans and a third consecutive year of big gains for US stocks have swollen account balances as 2025 comes to close. Many individual investors are finding holiday cheer and statements showing they have crossed a million dollar milestone in their 401ks as of the third quarter. There were 654,000 401k millionaires at just the brokerage you just mentioned earlier, which is what fidelity, just fidelity, not, not American funds, not trans, not any of these guys, just fidelity 654 in 401ks, over a million, the highest levels in record going back to the early 2000s, around 3.2% more than 3 million accounts tracked by benefits provider. Alight had balances above a million dollars as of the third quarter double the figure at the end of 2022 at t-roll price roughly 2.6% of participants balances above 1 million dollars and up 1.3% at the end of 2022. That's crazy. In the last three years just at t-roll of 401k accounts over a million dollars has gone from 1.3% to 2.6% accounts. It has doubled 100%. For the first time half of private sector workers are saving in 401ks which allow workers to invest money directly from their paychecks without subtracting and it's got a couple of the stats here. So it kind of validates what you're talking about to the average guy. Absolutely. But we're at the top of a bull market where most of the pundits myself included would say they were overvalued right now and we're going to have a correction. I keep talking about a black swan that's going to happen and we'll see what those numbers are two years into the bear market. But the idea is to keep at 15, 20 years and not traded. Most of the guys and the kids that I know are trading and most traders at the end of their career saved 2 or 3 don't make any money. It's like with Bitcoin which I'm not in favor but I tell when Bitcoin hit 117,000 the first time about 3 years ago I said I'm not in it but if I were in it I'd sell a third keep 2/3 and hit in the hundreds of thousands two more times I said sell a third keep 2/3 and so now you have about an eighth or a sixth of it left but you'd still have the benefit of that bull market. But most of the kids they read two books on trading and they think they're traders and I tell you or I tell anybody that will listen there are a lot of books on sex right. Thousands and thousands as any of those books as good as getting laid the answer is they're not in they're not okay very very deep. I know you weren't talking about Bitcoin talking about Bitcoin you've been critical Bitcoin before in the past I think something about Bitcoin is tied to Russia CI as you know I said I said seven or eight years ago I said there's two people that would benefit from the collapse of the financial markets in the US China in Russia. Benefit from the benefit which is so yeah and after three or four years ago China banned it because it was making their economy collapse not ours and the fact that a lot of people think some Japanese guy in a cave and benefits coin that's the hand job of all time I mean that's that's so much horse shit that is unbelievable. Do you still think it was somebody from China Russia who do you know I do know nothing would have happened in Russia without putting on it. Now I've trained six of the oligarchs in Russia six there's eight I trained six of them and they've never told me any secrets I had the son of one of them just at the last seminar in November okay. I'm not training second generation of these very wealthy guys and we'll see I'm not as dogmatic about it as Charlie Munger and Warren Buffett I almost said the late one but I almost slip the current Warren Buffett who's just stepping down but I mean I would rather as he says I would rather have one instead of one percent of Bitcoin rather have one percent of all the farmland in the United States over Bitcoin over Bitcoin so you still don't own any Bitcoin no. No my wife bought some for grandchildren so she manages a small portfolio for grandkids and I think her average price is probably 50,000 okay so she bought it a couple years ago. Got it got it but would you advise others to buy Bitcoin today you're still advising again I'm in cash you're in cash so you're waiting for fall I've been in cash for a long long time. Okay and the and people say what about inflation or bunker hunt told me long long time ago when I used to be the partners with the hunt family Danny if you got a word about inflation not making that fucking money okay said the same thing about taxes of course he never pay taxes that's why one of the reason with the jail. If you're worried about taxes Danny you know I'm making enough money is this is bunker honey my boy we used to sit in American Airlines he'd take up three seats. How big was he four four fifty stop it yeah I was part of the silver deal that they got in trouble with what did he die for heart failure. Yeah that's a big boy but I used to be able to he I got to fly in his G2 at the time that was the plane yet G2 but reconfigure G2 you know yeah but his wife this is great story his wife Mrs. Hunt used to pick us up at the desk the FW airport and you know if you've been to the FW you know the luggage and so she were in their 77 Buick and there's a crack from the lower left hand front window to the upper right hand crack. And she says I'm sorry Mr. Penny but a bunkie won't let me get it fixed because insurance won't cover it. I said it doesn't bother me man it doesn't bother me as long as it doesn't shatter in my face I don't care and they used to have a transistor radio swinging from the mirror and there'd be a hollow place where the radio is supposed to go because he didn't think the transistor radio added in a value. So he the radio in the car didn't add in a value for the extra 140 or 50 bucks I thought I'd never see that again well you know who had a similar car is the current senator from Florida Rick Scott who I trained he was my lawyer. And I sent him off to found Columbia health care he had a crack in the window and he had a transistor radio hanging from the mirror and I used to say when it was more Vogue to the cheapest. Well it sounds off white man that I ever knew. You just about to get canceled bro yeah he actually takes that as a compliment to you say you call that to Adam Adams like celebrating. So you're not a believer in Bitcoin now you you're a cash guy do you have a 401k. I haven't had a paycheck since January 92 okay so respectfully nobody's on your level meaning. You're about to be no I don't mean like that meaning you're about to be 80 you said I'm 80 I turn 80. Well you look great great color jacket but your advice doesn't work for the average. No I know that's why I follow. But he gave the average advice. Yeah he gave very good advice to the average guy when I said 80 to 250 he said find the five funds on what they're doing. You compare them five ten fifteen twenty five years diversified and he said put money in a dollar cost averaging which you're four dollar cost averaging and I see what that works out. And that's when I went to fidelity selling for the first time they have six hundred sixty five thousand four one K counts over a million bucks but go ahead. Well for me you know what we say more is caught than taught. Yeah. The reason that I'm a 401k millionaire is because someone that I worked with was teaching me about a 401k. It happened in 2008 he goes how much did you lose in the market I got I don't have any money the market he goes. Well now's a great time to maybe start investing and I was like okay I could even spell 401k at the time and now 2008 almost seventeen years later boom you were 401k millionaire. The reality is most people don't think 401k is a sexy. The reality is most people they're going to need a 401k to retire with money. So unless you want to get house rich and cash poor you're going to sell your house in order to have money if you're with a company that matches for four percent a hundred percent of your 401k at least put in the match. I agree. I agree. If you're not that's double dumb. Okay like you said if you're not a day trader where you're studying all the some not the guys that you talk about that we two books and think they they're traders. If you're not a you getting a hundred percent match go do it. Yes. Take advantage of it. Well Mario started putting stuff on his 401k you know just a few years ago. Yeah. The other day I'm asking how much you got in the 401k says why you won't believe how much I said what do you have. He gives it I'm like you got it because it says not bad. I'm like are you he says I can't even believe it. I haven't checked the four minutes but that's the benefit of the match. If you're not getting a match don't do it. And that's if you are getting the match double. Yeah then if you're not getting a match you might want to consider all three one thing I just want to say because obviously you and I are NBA experts over here Kevin Durant. If you go back to what we're talking about with that being an investor. You notice that all those investments happened after he left Oklahoma City and went to Oklahoma and went to a state. So this started around 2016 27 2018 you know they say that like show me your friends I'll show your future you show up from OKC. By the way number one team in the league right now the golden state with Steph Curry you become the two time NBA champion. And all of a sudden your blocks away from Silicon Valley opportunities are going to come your way. So you said they invested in X Y and Z all these companies. So location location location is not just in real estate but it's also investing look who's in his ear. Andre Igbo Dallas one of the most famous you know six men of all time. He's not an NBA Hall of Famer arguably but he's an NBA Hall of Fame investor because he played for golden state and basically changes framework of his career. And now he's a multi multi multi multi millionaire outside of basketball. You're one amazing voice in your ear from changing your life. Who was that for you when you were younger by the way. Yeah you are that to a lot of people. Onassis was to me one of the most he was he was my mother's favorite favorite guy. But onassis if you've never read the book on this guy do you know this guy marries Jackie Kennedy. And you know what they put in place for every year she's married to him he gave her 10 million bucks after being together for five or six years you can correct me on this onassis. See she they get a divorce I think they separate or something happens. And she's like you need to give me ex wise amount of money says no that 10 million I give you more than that every with the amount of money you spend. You're getting nothing from me gave her nothing or not. If you've never read the book on onassis he is one of the most underrated names for the younger generation. That you don't know about this guy was a G but please. I just I just got the onassis after he died. And Mr. Glatzos took over Constantine Glatzos. He lived at number one Sean Zilezay was his address. My wife and I in recent years have gone back to one now it's he lived in the attic with the rats. But he said he always had a tan so he put aluminum foil around his neck like this. This was onassis or onassis he wanted people to think he was on a boat a tennis court or a golf course. So he always had a tan and he always spent more money than he made which is quite easy for my wife to do is a little harder to do. But what did you learn from Constantine what did you just you made. The he the onassis shipping had a hundred and seven ships this is when I was there all a panamanium registry all paid for no debt. Onassis and they had an Olympic towers the building and he said we use them in the Olympic Airlines. We gave the airlines back to the country because we couldn't figure out how to run an airline and make money at it. The onassis towers was 40% full and 60% empty when I was in it. And I used to use Christina onassis office to look down fifth avenue at St. Patrice Cathedral. And he said that the two biggest levers you have in life are other people and other people's money. OPM, OPM, onassis and extravagant life is the book. If you've never just by the audiobook folks go buy it, listen to it, life changing, you will be entertained. He onassis was extremely strange, unique cycle competitor. The level of cycle competitive sky was and you know right around 45 years old he started having bladder problems. I know another guy at 45 years old started having bladder problems. This is like six podcasts and he stepped away, but I don't know if one of us is at bladder problems at 45. I know this guy does. Can we put a guard shook for this guy to all the Armenians that listen, can you please send him a guard shook right down here? So you have multiple guard shokes thanks for the fans out there. So let's go. Do you know what a guard shook is? Garshoek and Armenian in Russian Armenian is little party like you know how kids you sit on those little guard shokes. I think Adam needs a guard shook like maybe like a save that money, Garshoek. But let me let me get to the next story. Adam, you're in trouble. Yeah, I'm a herons the problem. I'm going to get into the next story here. I want to get to. So this next story maybe it doesn't have to do with economy. Maybe it does being hot is now job requirement. How do you think I got this job? So in the age of ozempik and micro lifts. The pretty privilege gap is growing Emily Reynolds runs a PR company. And with that responsibility comes the pressure to look young she tells me she's 44. But often passes as younger rap can we see what she looks like? She often passes as younger and that's by design Reynolds has tried Botox. Philla razor face laser face shows hydro facials and invests an expensive skincare products. She has a peloton and does intense workouts. This labaries boot camp. She's walking the precarious line and she tells me between looking mature enough to show. She's an experienced professional who can run and mentor a team and young enough to be relevant. Even as she thinks critically about beauty standards imposed on women. Reynolds worries about what would happen to her business and professional reputation if she abandoned her rituals and routines. And what's going to happen as she continues to age. How long will I be quote unquote publicly relevant perceived as attractive Reynolds says. And when I'm not what happens to me professionally. That's the thing I think about daily what I think to be thinking about daily with that. Do you think it's extremely important to be hot. And if it's a job requirement today meaning the better you look the more likely it is they're going to get the job then what do you think? Absolutely. Absolutely. Yes. Okay so. It's not it's it's no coincidence that the former personal assistant to gates. Jobs when he was alive and more recently. Elon is the same woman. She's written a book. And how she set up to go after jobs first. And then gates and then Elon. She didn't have any kids with Elon because Elon likes to have a lot of kids. But not with her and most of the top assistants female I'm talking about. To the big Wall Street guys are all good looking. There's no no old hags. You know that look like Volkswagen's. Do you think it helps? It helps guys as well or to guys that doesn't matter whether the girl looking or not to make money. Does it help to be good looking to be in shape and business for men? Depends. My heart of fame doesn't have one six pack on it. I've got 145 or 50 guys. Two girls. Not one six pack. Not one. Not one. I've got some guys that take steroids and have big muscles but no six pack. Got it. Adam what do you think about this? The question is what this lady give me the question. The question is how important is it to look good does it help you advance in your career? Hell yeah does. You think I know anything about anything? I'm just good looking. No, the reality is this. A lot of people made, you know, I'm reading a comment section out of it. They didn't know. They sound about very ugly. They were worried about you having to use a bathroom. Everyone's drinking a lot of water but my voice sounds good. Here's the reality. There is something called pretty privilege and it affects women way more than affects men. So women have to understand this. That inner beauty and outer beauty is completely different. Outer beauty will get you in the door anywhere but inner beauty will keep you in the house or keep you in a job or keep you employed. So there's a lot of hot girls relying on pretty privileges days but that only goes so far. So what's your character? What's your DNA? What's your values? What's your principles? Just being hot will not keep you there long enough. You need to do more than that. As far as a man, for a man to have status, you have multiple factors that you can rely on other than looks. Looks, if you ask women, are not even the number one thing. It's status, it's money, it's your game, so to speak. Are you funny? Are you humorous? Are you a bombastic? You got a swag? Do you have a castle? You got a castle? Doesn't matter if you're a couple pounds overweight. So the reality is, I don't even know if this chick's married and not that it matters per se. But if she is not married, you may want to take a step back from your career and focus on family and kids before it's too late. Who is this girl anyways? Is she supposed to be hot? I don't know, Dan. I don't know. She seems pretty confident here. Can you go to another one that says Emily Roberts? Emily Reynolds. Is it Roberts or Reynolds? Reynolds. No relation to Ryan. No. Okay. Tom, where are you out with this? So I believe that there is something to coming into an interview and looking sharp. Okay. Looking sharp. But I'll tell you, the further along I've been in my career, the more I've looked at it, what can you do? When can you do it? And who can I call the confirm it? I thought you were going to say, who can you do? I was like, no, no, no. What can you do? What can you do now? What can you do now when you're mad at me, Tom? Literally, Tom. I'm always sorry. You're going to say things like this, please. If you come in looking disheveled, that makes a difference. But if you come in looking sharp, you don't have to be handsome or particularly beautiful by like modeling standards. You just need to be sharp and put together like you take care of yourself. I'll tell you, there is a bias and it is a factual bias. And no one's going to want to hear this. And this is not fat shaming, but people that are incredibly overweight. There isn't a perception about employers, are you taking care of yourself? And if you care enough to take care of yourself, will you care enough to take care of the job that I'm hiring your forum? And what's going on here? So there is that bias. But you don't have to look like a model. You have to come in and say, this is my background. This is what I've accomplished. This is what I'm capable of. Here's my references. I'm ready to go. And that is, and I think that's the attitude. Now, younger people do women that are more beautiful, get hired into a role like an assistant or like this? Sure. I'd be a fool to say that that doesn't happen. But for the broad spectrum, we're looking for people to get the job done not to surround ourselves with everybody we work out with at Equinox. Okay. All right. So to me, I think when it comes out to this, you have to, I used to work at ballies. And when I would work at ballies, guys would come in. And, you know, I would have some fun with them. But I would also, you know, be, it was 50% fun, 50% series. I would have them stand up. I'm like, okay. So are you single? I am. When's the last time you had a steady relationship? Not in a while. Do you own a gym membership? Obviously, I don't. Okay. Look at me. I said, look, man, what are you going to do to make this work? Okay. So then I would, I'm like, listen, can I just talk to you openly? Yes. I said, stop trying to grow a beard. You don't have one. It doesn't look good. You either have it, do it. You don't have it. You don't have it. Don't do it. All right. Number two, what is this hairdo you got here? What is this all about? Like, what are you doing with this hairdo? I said, we got to get rid of this hairdo. It's a pretty shitty hairdo. We got to fix this thing here, right? It's not going to work. Go to somebody and I would introduce them to one of my guys. Go get a nicer haircut. This is embarrassing. You can't go around looking like this. No girl's going to want to date you. And if she does, I would question her integrity. Like, what she's doing this for? Then it's the way you dress. Tell me how you dress. Tell me what you weren't. What is unique about your brand? When you walk into her and what's going to be different about you? What do you dress that's just different than everybody else? What do you do? Okay, great. Here's what I do. Working out, energy. Do you smile? Do you take care of yourself? And I think this is like even when we licensed 60,000 insurance agents in 50 states. So I had a lot of younger guys that would come in. And I've had many conversations where I would sit down and I had a kit. I would say, first of all, you smell horrible. So hygiene is extremely critical. If you can't figure out your hygiene, I don't know if you realize or not. It's hard to be around you. And stop talking to me like this. Hi Patrick. You smell. Fix your breath. Have people tell you if you have your breath. Have one of these, what do you call these, these mint things that you put in? But that's a shortcut as well. Floss two, three times a day. Have these flossing stuff that the stuff gets out of your teeth because that's what smells. Bad as you get old, you got to take care of this stuff. And you got to figure out what you got to do for your breath to smell better. Hygiene. Blow dry yourself after a shower. Okay. Blow dry. Any area that sweat stays there. Just don't burn your private parts. But blow dry yourself. Yeah. Blow dry. I'm actually being that serious with you. Blow dry yourself. Blow dry between your toes on your feet. That's what makes your feet smell because it's nasty. Blow dry after you get, because it's wet. Yeast stuff stays in there. And then it's like, use this deodorant. Try this shampoo. Try this axe. Take a shower. Do it this way. And then eventually, three, six months later, they're smell better. Give them a clone. Hey, start off with this perialist. There's 112 clone. There's jupe clone. Whatever the old school clones were. Not the, you know, creep clones. You're not going to go around hand and creed or step out of clones to people. But maybe. Not stopped. So cool. No, but I'm just being very honest with you. And then eventually you're like, all right. So look what you look like. You smell better. You look better. You're taking care. And then all of a sudden they're walking like this. You've been doing this your entire life to younger guys. And you're like, all right. Now he's got a girlfriend. Now he walks in a different way. Now he's got a little bit of a swagger. Now he's got self-worth. Now he's got some money in the bank. Now he's got some. And then good things start happening. But I think. The comment time that you made. I think it's. Extremely right. Because Tom's message. Applies to 90% of people. If you're handsome, you're good looking. You know what you can do many times. You can have shitty hair. Okay. You can not fix everything on your hair, your face. And so there's this people that I can. They wake up when they look good. Look around. To that one percent of the world. But to everybody else, I think it is important. I think it works. And then I'm going to give you your final thoughts on this year. You have two times to make a first impression. One, when you walk in the door, she walks in the door. The next is when you open your big mouth. Okay. A lot of people can pass the looks at the point. But then they stick their foot in their mouth. And so communication skills are paramount. And the current generation, actually the last two generations, have pissed poor communication skills. Bill Ackman worked 9.2 billion. The other day gave a tip to people on X and 1 viral. He said, "Here's a tip to young men. When you want to ask a girl out, ask her, may I meet you?" Okay. And the amount of people that tried to troll him for saying, "May I meet you?" Was nonstop. You got trolled nonstop all day. What is your line? If that's what Ackman says, what would Dan Pena say? As a single man, or as an 80-year-old man? No, no, no, single. As an 80-year-old, you can't get away with anything. But as a single man. Okay. You're a place of mind. Really? That's open. He's like, "I'm even on one bed." I'm in a castle. Okay. Come meet me on my crib. Which do you, Rob? Do you like castle? Can you run a poll? Which do you prefer? May I meet you? Or put your place or mind. Run a poll. Go with Dan Pella's. Ladies. Which one? Let's see what's going to happen. Can you pull my picture of my wife and I? He'll put it. He'll find it. He'll find it. Okay. Rob, start that poll. I'm curious. Folks, start voting. When did that start working? When did that line start working? Dan, when did that line start working? When I was 21. Once I had a castle. Once you had a Rolls. No, no, no, no. Hang on. I had a Rolls when I was 24. When I was a commission officer, a young guy at NATO, I mean, your place or mind. Actually, I got it from a woman. Asked me during the lunch break. Your place or mind. She asked you when you were working in NATO. That was that nice Russian woman that said, tell me all about your job. Which picture is it, by the way? Is there a picture of you? The one younger picture of, you know, can you go to my website? Oh, but wait, stop, stop, stop. See those pictures on the right. That's my wife last year. And that's my wife's 30 years ago. All the way to the right. The one there. That those two. 30 years ago. Last year. Wow. Rock 'em the same. The same. She used to be a big sailor. She was winning that race across the Atlantic. And that's serious. She's wearing a sailing harness. That's like a big time sailing. Yeah, she is what she was. A big time sailor. But she looks the same. That's when the boats up at 44 degrees. Yeah. Can I lean in into the wind? You can add one thing. Okay. I'm just imagining, you know, the guy walks into ballies for the first time. The ballies? Is that a. The same as the day. The ballie told her fitness. You remember? The people he was not a list, ballies. I'm just imagining the guy walks into the. Your place or mind is winning. A swaggering. May I meet you? Your place or mind? It's close. It's close. That's 14 hundred people just voted in the last minutes. Oh, this is close as my plan. I know. I know. I know. Can I meet you as woke? May I meet you as woke? Yeah. Meet me here as. Your place or mind? And I know, I know, Fortune 50 CEOs that you know the names. That they can make it vulgar, vulgar. No, more vulgar than your place or mind. I mean, they. And that's just. Let's not go there, because then we're going to try their time and then. Well, some men are pigs, man. Some men are pigs, man. Some men are pigs. I know. But they've been pigs since caveman. That's exactly right. When they bonked her on the head and dragged her back. Exactly. I should have lived in. (Laughter) Bunk. Don't hide. What I was going to say is this. Like, I could just picture the guy that walks into Bally's and pat walks in and goes. Your fat, your smell, your hair is all messed up, your hygiene. You'd be amazed how many. Clean it up. That's came back to me, thankful. But that's my point. Yeah. Is that they're open to feedback and they're coachable. That's the one thing I've noticed between certain men and not certain men and certainly between men and women. Yeah. Is that men and more comfortable being offended. Our guys will tell each other, we bus falls, bro, your fat, your grows, clean it up. And it's like, all right, cool. I will. Women can't say each other to each other. That's why they're all tense. Okay. Oh, how do I look? I'm a 10, I'm a 10, I'm a 10. Women don't want to be offended. For a man, you need to be comfortable being offended. And people, you need to be told, you're fat, you're sloppy, clean it up, you're a loser. Don't end up being a loser. That's how you motivate young men. That's a different time. Man, I will be engaged in self-deprecation and women aren't. I've seen not that we need to rehab just. Some of the things you've said online. It's not for the faint of heart. No. But you say, if you clean it up, stop being a-- And that's how men actually receive feedback, right? Like, if you've had a football coach or a basketball coach, or a drill sergeant, they go, "Get down, mother." And you can do it. Women don't respond to that. You can't go to a girl and say, "Your fat, your ugly, your overweight, clean it up." They're going to start crying in the corner. For a guy, that's going to make her break. If you say that to a guy and they clean it up, that means they're resilient. If they start crying in the corner, then they're weak and they'll probably never get laid anyway. Forbes magazine put out a survey last year that 80% of employees throughout the United States of America cry at least one time a week. 80% of employees from below the chairman and CEO of the C-suite. I guess they call it cry. So I asked my two kids to work for big companies. And my daughter, who's 39 now, she was 38. Then she says, "More than once a week, Dad." And it's mostly men cry at work. No. That's what we are. Well, I don't want to say this publicly. But last week, I saw Adam and Jim. This happens routinely on Fridays. He was crying. It's crying. Normally it's Wednesday because it's like, you know, Brandon. I'm like, "Yeah." But normally, honestly, like the solution, one good hug wraps it up. Thank you. Or a pal, pal. Either way, I suck it up. No, but obviously that's a joke. But the point I'm trying to -- the point of what you're saying here is, taking the feedback from somebody that's giving you straight up. Let's do a lesson before we wrap up. We got four minutes with this one. Okay. Home delistings. Surge. As sellers struggle to get their price. This isn't good. They're trying to sell. No one's willing to pay the price. The realtor comes and says, "Let's take it off because it shows that it's been for sale for 328 days and let's start it all over again." Here's what CNBC has to say about it. Go for it, Rob. Housing market, but this year could be worse than expected as sellers seem to be giving up. Diana, oh, it joins us to explain why. Diana. Hey, Michael. When a seller takes their home off the market, it's called a delisting. And they're now happening at an unusually high rate. Delistings in October, which are reported with a one-month lag. We're up 45.5%. You're to date an up nearly 38% from October of last year, that, according to a new report from realtor.com. Now, this is the highest delisting year since they began tracking in 2022. Delistings began to rise in June and have remained elevated for five straight months. About 6% of active listings have been coming off the market each month, which is typically something you only see in the dead of winter. All right, so why is it happening? Uncertainty in the economy, stagnant and high mortgage rates. And, of course, a still pricey market. Locally, Miami, Denver, and Houston are seeing the highest ratio of delistings compared with new listings. Those are also markets that saw some of the biggest price gains in recent years. And, in addition, and because of that, more potential buyers are now heading to what realtor.com calls refuge markets, more affordable markets. Bren Rapid, St. Louis, Cleveland, Milwaukee, and Pittsburgh are all seeing much bigger price gains now than the rest of the country because demand there is suddenly surging. Now, later today, we do get earnings from luxury home builder toll brothers. We haven't had any government data on the homebuilders since before the shutdown, but toll has been outperforming simply because its buyers are less reliant on mortgage rates. Now, they did guide to lower home deliveries. We'll see how much lower when we get those results this afternoon. Okay, Tom, what's going on here? What's going on is they said delistings. This is the highest it's been since they started measuring it. What happens with delistings? When people finally decide to sell, they're usually selling into a roll-up market. They're seeing prices roll up around them. They're seeing prices go up. Honey, maybe it's time to sell the house and buy something smaller or maybe now it's the time to move across town to something bigger. Well, what happens with delistings? Delistings is what happens. Delistings increase, which tells the market observers that the peak of the market prices in the current point may be upon us, Pat. When prices peak, delistings happen. What it says is that there's guess what? There's now prices may be starting to go down a bit. So number one, you look at, you see, are we seeing the delistings as a signal we may be at the top of market and prices are now going to moderate, go down a little bit. And remember, these prices have run up for a while, so it's not like these are going to drop below mortgage value, like the great financial crash in 2008, 2009. But this is a sign. Now, what do we also see? Two weird stats. Number one, the layoffs have increased over the summer. From July to now, layoffs have increased. But job openings have also increased, which might mean that we don't have the people in the right places or the right schools for the right jobs, because you have layoffs on one hand and then you have job openings on the other. But this, I believe, is a sign that in these peak markets, we're about to see pricing start going down. Because I put it up saying, hey, honey, it was a million, let's put it up in a million 50, see if we get any takers. Because things have been up around us. But what if the real market for your house is really 9.75 right now? Because it's peaked a little bit. Well, then the realtor says, look, we don't want to go drop, drop, drop. Because people will price under you, they'll think maybe you have to move somewhere for a job. And there's some psychology in buying. Let's just do this. Take a breather and then we'll put it back out at 9.80 and go get your 9.75. There's strategy to it as well. Dan, what feedback do you have to say for people that are not homeowners or homeowners? To homeowners, do I sell or do I keep too? If I want to buy, is that's a good time to buy? Do I wait? What do I do? If the house is a house that you're living in as opposed to an investment. If it's an investment, I think the market's going to go lower. So I mean, depending on can you be without a home or without a real estate piece of property, without a foreplex, et cetera, et cetera. I'd sell. But if it's your house, I just write out the market. I mean, you're home. I just write out the market. The common sense. Yeah. You want a house family somewhere to live and you're going to be there long term 5, 10 years? Just go buy, do your thing. Okay, Adam. Your thoughts on this? Yeah, of course. Is it a lifestyle thing? Is it an investment thing? Is it something for your family? There's three different things. I've said this before, I'll say it again. The best investment you can make is into yourself, into your business. Then assets like the stock market or Bitcoin, and then housing. You know, housing is a lifestyle thing. Yes, if you waited out 5, 10 years, you can make money in your house. Of course, nobody's denying that. But is it the best investment in my opinion? No. And for the matter for young people, it's taking longer and longer and longer for all of life's milestones. Buying a house, having kids, getting married, it's all taking almost 10 years longer. Then it was a generation ago. The average home buyer right now is 40 years old. You know, a generation ago, the average home buyer was 28. So things are taking longer. Good things take time. Play the longer. Yeah, we stopped acting like the owning a home is the number one asset for somebody in their life. Like it's like a retirement vehicle or it's like their end all be all. Because it would be good for the most people if the home prices went down. Like that is what should happen if we build more houses. So, you know, if people are acting like it's going to be a national crisis, if one price goes down because that's like psychology has been built in. But that's like a bad way to think about it. Yeah. I think there are certain markets that are going to be impacted more. Certain markets are not. I suggest looking if you're comfortable moving, looking to red cities, red states, pro business, pro-friendly, no income tax, a place that you know others are going to move to. If it's in places that is blue state the other day, I saw a clip of Gavin Newsom with Charlie Kirk. And, you know, he talked about how, hey, we have in Charlie Capson. We got the fifth largest economy in the world. And then Newsom says, I'm glad you know that. He says, but you've been losing a lot of people. He says, not last year we got people coming in. He says, but the way you got people coming in last year was some illegal immigration. And Newsom was stuck. You didn't know what to say. So, if you take blue states, people are leaving a lot of these blue state, high regulation, slow speed on permits, and they're going to low regulation, red state with no taxes. Position yourself better where you know people are going to go there. Not only a place to raise your kids, not only a place where business is going to be attracted to go. If you go there, you know people are going to keep going there next 5, 10, 15, 20 years. And guess what supply and demand says? You're going to be fine with the property you buy. Anyways, last call here. Then, if you have them in to his website, go visit his site. We're going to put it below Rob with all the details on his QLA program. Then, it's great to finally have you here. We had a great conversation. You're a very, very interesting man. Thank you very much. All my stuff's free. I don't sell anything. So just. There you go. Go to, and what's the website called? It's called, damnpania.co.uk. Yeah. We will put the link below. All stuff is free on his website. You can go pick it up and learn. God bless everybody. We will do this again next. We don't have a podcast Friday because of business planning workshop. But we will have a next Monday. But we do have a podcast that's going out tomorrow. And if you're going out tomorrow. With a very interesting Rick Allen Ross, who's a D-programmer of people that joined Colt. You have to watch it. Take care everybody. Bye-bye. Bye-bye.