Episode 5 - The Greatest Trade Ever w/ Cody Ko | Trillionaire Mindset

[Music] surprised [Music] hi welcome to the trillionaire mindset episode five we did it it's a special number it's half a ten it's five percent of a hundred one percent of five hundred anything else ah that's all i got okay it's an odd number but this is an even episode let me tell you we got a lot we got a lot coming we got a special guest who you probably already know because it's in the damn title of this yeah but you're gonna wanna he's coming up real soon before we get started we need some help from you guys because uh stanford business school our known rival they finally did it they passed that they passed us on the spotify i'll tell you which charts it was just a fun joke we were just having a good time goofing around yeah they took it too far they took it way too far you guys won you beat us all right we've been getting hate mail from this one yeah he's like i'll tell you what i'm i'm paranoid i'm i'm scared i'm always looking over my shoulder yeah people scream at me on the street mud person yeah it's it's horrible these stanford business school jocks i mean they've just been spoon-fed from the silver spoon their whole dang lives and it's about time someone put them in their place so we need you to listen to us on spotify too yeah spotify listeners need to step up i've taken some precautions i you know you know i'm close personal friends with dennis rodman yeah i've asked him i've asked him if he could uh connect me with those have you seen that video of those those north korean the mercenaries the army that we're thinking about hiring for yeah let's just play might see if i can get them as a personal security yeah they're serious we're watching a video of these north korean soldiers look at that just going kick like six feet in the air that guy just ran his head straight through bricks kim jong-un is like this is tight i hope they don't turn on me these guys oh [ __ ] because that's what battle is like these days there's no they should get rid of all weapons and it should just be this should be shirtless guys attacking you with pvc pipes are those two by fours i know north korea is the bad one but this [ __ ] rocks he's not you're not gonna be wearing a helmet in battle and you're going to be shirtless and you're going to be he's impressed he's he's definitely got a look on his nose they [ __ ] hate bricks in north korea absolutely hate though he's definitely like what the hell are we doing this is what's coming for you stanford yeah so but following me home yeah quit quit following him home quit sending hate mail because we got these guys coming because we're friends with dennis rodman and by proxy friends with kim jong-un you guys are stoked you know me i'm usually defund the pentagon but if we're spending our money on that fund the octagon wherever they are so uh yeah we're go ahead what what where am i going with this we had oh we had a we had a special little um twitter account that got made which is fun we just wanted to give a shout out to this guy who made a twitter account called trillionaire mindset takeaways he put himself as the uh no that's not him do you know who that is who is that oh that's cody oh i thought it was him no it's cody oh cody is the unofficial mascot of trillionaire mindset for some reason i saw it i just saw it and i was like i don't recognize who that is it must be it's not either of us it must be the guy some some some young upstart has uh made the twitter trillionaire mindset takeaway takeaway takeaway so give him a follow if you if you care no pm takeaways yeah tm takeaways and he breaks down the uh he breaks down the episodes in fun ways yeah he sure does um but don't follow and then not listen yeah because you'll get lost yeah you'll get lost you won't know what he's talking about look we've got episode four takeaways women love airpods through facebook's new name is penis stands for people entering new internet spaces that's true noah spent the wedding budget on go-karts that's absolutely true so give them a follow if you want so let's get right down to the meat of this episode because uh we know that you're all yearning and burning for our our second guest of all time second guest if you can guess who he is his name is cody cody codyco everybody the worst introduction ever geez louise yeah sorry i'm sorry pal i really i don't know i know you guys said wear business cash oh i see you've got the june shine yeah yeah this is horrible yeah what the [ __ ] is this is this we've been asking you because it's chairs yeah are you guys on these too yeah we're basically on the same kind of oh yours ours doesn't do that you know what noel was sitting there last week he might have been goofing around i think it's a little core exercise actually yeah does that feel good it feels no it doesn't it actually burns by the way um what's up thank you for having me first of all thank you for being on thanks for coming on um second of all i listened to the last episode with noel uh yesterday and i i have to say this up front you are a simp [Laughter] baby i know let me know if you need anything i'm here buying airpods i was i was it was in the moment screaming at my phone yeah what yeah well what are you doing she never got him she never got him i cancelled the order he came to him yeah it's a simp who came to his senses and it was the first and only thing that happened of its kind i have not done that since and never will i again unless it's my wife hey future wife out there baby i got you you want some airpods ben is a provider i am a provider also so if you listened you might know that noelle brought gifts but i'm i'm looking around i'm not the presence is present did you forget it in the okay i must have uh i hate like it's in my car yeah no it's fine my uncle used to do that to me and my brothers on hanukkah he's like oh my gifts are in the card it's like well go get him and then he wouldn't well hanukkah's a tough one to do that for cause there's eight crazy nights yeah that's when you end up just getting socks it's bs right i hate it but now as an adult i need socks give me some more socks mom hey did noelle actually go make those hats yeah no he made the hats himself no he went to lids yeah he made the hats i thought the i thought our producers made those and so i i thought that i would show up and they'd be like okay here give them these hats it'd be really funny and then i got here no hats so oh wow well what's up with that well someone's getting in trouble anyway we got a lot to dive into it's earnings season boys earnings that's exciting isn't it i'm excited yeah we're wet pumped what what stocks are you guys excited about pinterest baby pinterest always oh i don't think they reported yet [ __ ] well you know there's a lot to watch out for robin hood reported they got beat down they were down like 10 after they reported because uh yeah they missed they had a big myth so we i i guess there were some questions both externally from the audience and internally about earnings and all the fanfare around it so god i guess we'll just jump right into it explain what happens what what what are these earnings what are what are earnings yeah earnings are uh when you're a public company you're required to post earnings per quarter every quarter right every revenue sorry it's everything it's revenues it's profits operating costs operating costs everything and ooh you're wet here look at that yeah fresh out of the ocean boy uh excuse me i just had to clear my throat man um yeah earnings are required for public companies you have to post them quarterly it varies from company to company like you know they're not all everybody's reporting on the same day it's like because it goes on their fiscal year right yeah everybody's got a different kind of setup and different fiscal year um but every company is obviously different every company is measured to a different standard so something like robinhood which is a growth stock it's a little forgivable if you miss certain benchmarks like revenue or profits as long as you're still growing but robinhood i mean they ipo'd at a really high valuation and there was a lot of hype around it and they fell short of everything i think they like fell short of revenues they fell short of uh profits earnings per share and crypto their crypto trading was actually kind of like fell way below expectations so the market adjusted accordingly why do you think all that is do you think it's because robin hood's not the only game in town i think it's probably because yeah they're not the only game in town you got competition i mean public public for example yeah no seriously that's a that's a big one and what was it uh trill trail okay okay cool yeah just making sure um yeah it uh it also isn't their entire business models uh selling order flow to citadel like one place yes it's that's how they got away with doing the commission free thing yeah and but now every other uh brokerage house followed suit they all offer commission free trading so that ratcheted up the competition robin hood and i think also after the game stop craze kind of died down people weren't trading god dang you good yeah keep choking on myself uh yeah trading kind of dwindled in popularity because the hype wasn't there people probably lost on gamestop people famously like lose their shirts all the time on options trades which is really frustrating to see but also very entertaining when you see someone post that screenshot of like negative two hundred thousand dollars porn lost porn on wall street bets is just that's a special thing i feel so bad for these people but also at the same time i really don't like you can't be that stupid and greedy and not expect it to catch up with you at some point i just lack empathy as a human right yeah yeah so i look at that and i just go yes [ __ ] you yeah how do you feel when you see gain porn nothing nothing i feel i feel like a small tinge of jealousy especially when they're like i just opened my account last week and i hit should i start trading options and i'm like okay all right i guess i'm just an idiot i i'm the worst type of person i feel joy when someone fails and i feel envy when someone succeeds oh yeah i think that's just human nature anyone who doesn't feel it is lying yeah true yeah i feel yeah i did i i actually feel for people though that lose money doing options because i did the same thing yeah like when quarantine started i downloaded robin hood just like i think everyone did yeah uh let's try this options thing well all you have to do is press a button yeah i promise i won't yeah that's basically what it's like you they're like you sure how long have you been just let me do it yeah the the process is basically you fill out one page and it just asks how long have you been trading well in five years do you know what options are yes and then they're like okay go get them i saw the trillionaire mindset instagram i'm ready to go i get it hey guys we want to take a quick break to thank the sponsor of today's episode manscaped manscaped is the best in men's below the waist grooming champions of the world manscaped offers precision engineering tools for your family jewels manscape just launched their fourth generation trimmer wow yeah the lawnmower 4.0 if you thought the 3.0 was something wait till you see the 4.0 you heard that right the 4.0 join over 2 million men worldwide who trust manscaped with this exclusive offer for you 20 off and free worldwide shipping with the code trill manscape.com emil imagine shaving with a sleek well-designed and optimized trimmer that makes shaving time your favorite time in the bathroom if your bush is mush this thing turns it to kush let me tell you i'm one of the first people to try the new 4.0 i'm just i'm blown away by the performance the craftsmanship and details on the 4.0 are just their next level we've all clipped our bags we've all clipped it 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always use the right tools for the job with manscaped and then companies like google google reported i will get to this in a minute because i blew a huge effing trade with this google man but google reported and of course as always they like beat everything and the stock you know it went up uh huge and what else what else reported we had um shopify just today this morning reported and a similar thing where they were down similar to google they were down in the pre-market and then just got bid to high heaven just like i think google was up like six percent yesterday shopify at one point today was up i don't know eight percent or something which on a 1400 stock is tremendous can i interrupt you real quick yeah um so the the way that i lost money the like the big chunk of money i lost i think i lost like 12 grand or something like that was trade in one trade i was trading amazon earnings trading options i think i shorted amazon uh on their earnings call and they beat earnings or something this is during quarantine yeah and and i've since learned you're not they it's kind of advised not to trade earnings earnings are a crap shoot yes famously so i'm glad you brought that up because earnings can be just like they'll beat on every metric and yet the stock is down and you'll be going what the hell happened or you know they'll beat or they'll miss whatever it is and the stock will do nothing it'll just kind of trade flat and that's called god i know this i know this phrase it's called um maximum pain it's called max payne it's where it caused the stock makes a move or lack thereof that causes the maximum amount of pain for all call holders and all put holders and the big winners are the market makers and the option writers that happens way more often than you think and you see it online all the time where people are like i don't get it like apple reported record earnings but the stock is down like two percent well you could chalk it up to anything i the famous one is buy the rumor sell the news stock goes up into the rumor news comes out what else is there at this point um twitter reported and they kind of had to buy the rumor sell the news this type of thing the stock was like really going into a nice little channel and they reported kind of in line with everything in line with expectations but twitter kind of gets uh they kind of get the the the rough the [ __ ] end of the stick yeah with truth coming oh man with trump's true thing it got i posted a fire truth this morning yeah did you guys retrieve it oh dude i read truth okay okay and i tr truced it okay is that is that when you like it what are likes going to be called truth trump choosing hates because we hate the truth no we like the truth we like the truth yeah we like the truth which yeah they're truths truths and read truths on truth when you true but you can false stuff too false that's like dislike oh yeah yes yeah that was cool dude fake news yeah yeah hello wait hello mark this is mark mark shut up it's mom i said hey mark emil says hi hello emil what's going on man he wants to run the new name of um facebook's new name by penis oh it's mark zuckerberg yeah mark zuckerberg sucker um the new name is uh it's it's mark you're breaking up a little bit buddy you corny horny guy oh it's meta it's meta that's the best you could come up with just meta you're telling me that the name for the metaverse that you guys are building supposedly is just meta it is cool okay ask him if we're stalling for tahoe are we still on for tahoe yes yes yeah we are okay can you send us each a million dollars too what for just for like weekend fun money and cody cody wants a million dollars too what just cody's here cody's here okay hey okay all right mark say hey okay cool love you good luck you do want to hang out with him oh nevermind he was fine he's he's a little busy okay anyway facebook just facebooked his new name i wonder if they're gonna change their ticker symbol did you see the meta i posted this morning by the way dude i met it and revamped it good thank you man i hope you can bully mark zuckerberg in meta like like someone should make a game where you can bully him wait did you guys see that clip i saw it on tick tock it was like him wearing vr and he's like look at this cool thing you can do in the metaverse and i think someone edited it so it shows his avatar sitting next to this woman who's also on a vr headset yeah and they're sitting like at this board table and all of a sudden he just grows these giant boobs and she's like wow that's really cool i did see that can you try and find that oh yeah we gotta pull that up at some point uh oh you just went with meta just stacked mark zuckerberg oh yeah big bolt-ons you know that does something to your brain in this day and age where you're just like oh okay i guess that's kind of hmm okay yeah there he is oh he's on a cbs uh cool check this out wow so that's pretty neat this is so freaking cool do you have a favorite feature this is so freaking cool yeah something that you think is very cool yeah check this out check this out wow wow this is so freaking cool do you have a favorite oh god oh there's some smoked meats right there yeah some sweets baby rice sweater oh my god oh boys i'm really mad this week okay wait so but before we get too far away from it should we should we have you talk about earnings a little bit more and what that could mean practically for yeah i guess um it's just earnings are a crap shoot if you're a trader out there don't try to guess i mean have fun with it and play with something that you're not gonna you know not gonna miss a couple hundred bucks or something but for the most part earnings are a total they're just a gamble it's a roll of the dice and you never unless you really know the company like shopify reported today and they missed on everything but because they're a growth company and they're like they recently announced deals with alibaba and facebook and what else just a bunch of other stuff like they they're given some wiggle room because everybody still wants to own shopify so like any little dip you're probably gonna get it's gonna get bought up so today and i'm so pissed off oh [ __ ] oh [ __ ] somebody boys i gotta tell you somebody's straight thing it's just it's hard sometimes it's hard out in the last week you could have made more than like a surgeon off just a couple thousand bucks just just from options between tesla google and shopify alone and guess what i did what'd you do i didn't you made less than i didn't i made a tiny little bit but i slept in i slept in the last couple days this is the this is the that's that's why because yeah because i slept until 7 00 am instead of waking up at 5 30 my alarm goes off at 5 30 but this week i was just like i just got asleep man i got to sleep in damn and you get it i'm gonna move to the east coast man and tesla i mean there's there's lessons to be learned from each of these so like google they reported it was a solid earnings report they were down after hours and i i remember seeing that and i was like oh okay there's probably going to be a trade here but maybe since it's just been up for the last year just in a solid uptrend okay so there's a there's a big lesson here can we pull up the chart on google i want to show you guys do you guys know what you're looking at here for the listener you're gonna have to watch it on youtube because we got a chart a stock chart beautiful candles beautiful candles these are called candlesticks for those of you who don't know and i'm not going to get into the you know red is down white or black is up those little bars along the bottom that's the volume that's how many shares were traded that day so you can see the big spikes where each of the you know at the end of april you had a big spike and a gap up that was an earnings report again in july another earnings report and then this week for october was that slack it's mark again oh god he's hitting us up on hey he's woofing us he wants us to bring some more some sweet baby rays as he's asking for sweet paper race for tahoe uh so you had you had google in this relentless uptrend this is only for the last like this this chart only goes back to april but if you were to zoom out even further you would see that it just it's like i think it's over 100 in the last 52 weeks last year and so they reported in that blue line going up is the 50-day moving average that is like one of the standard metrics that most traders and investors use for like short to mid medium term momentum it's clearly going up the trend is up and when you have something like google that everybody clearly wants to own no matter what price because the market cap now is at like 1.96 trillion which is insane when you have that's the trillion our mindset that is i mean that's sundar p shai i think that's the name of the ceo he's got that trillionaire mindset he truly does dude he came from multi-trillionaire yeah mindset they did a split i think a few months ago and it just it just everybody just needs to own google i guess just at any price which makes sense because they are everything hey what do you use you use bing no duck duck go baby yeah you do actually no i think more people should they're growing a lot uh now that i don't know it we're like entering this new age of people wanting to own their own data which i know has been a thing forever but now that apple actually implemented the privacy stuff and you know you can see that in snap stock they're down like oh yeah you heard a lot of people's oh my god snap is down like crazy because they've finally come out and been like this has completely [ __ ] our business same with facebook yes i didn't i didn't even know that yeah it's great but you've seen on your like phone now you have to accept that apple or yeah that the app can track your data i did see that recently so now a lot of apps are getting locked out whoa you have to opt in right so they yeah so is apple doing that to screw other companies or to like protect people or both well they're saying it's they're selling it as like we care about your data yeah like we want it it's a big part of their brand now but it's also a complete [ __ ] you to mark zuckerberg yeah and i think that's i mean that paired with all the [ __ ] that they're going through yeah uh with you know extremist content and everything they're [ __ ] that's why he's doing this because he wants to make someone else ceo of facebook and then he can work on his passion project which is the metaverse but facebook is still gonna exist it's just like this is like an alphabet type exactly yeah interesting how google changed things so those guys can just like wipe their clean yeah sergey brin and um larry page just don't even and now former ceo eric schmidt that guy oh man he was a sicko he had like a sex yacht a salt that's what they call it a 900 footer dude remember what's his name yeah the 800 footer yeah the 800 footer well so anyway these guys just and by the way on the way up insiders from google were just dumping tens of millions of dollars worth of stock which doesn't necessarily mean anything because when you're worth 30 billion dollars it's a drop in the bucket but so the lesson here sort of i mean if there is a lesson it's more just for me relenting about how effing annoyed i am you could have bought the 2850 call options uh the the morning after earnings on google for like five bucks 28.50 yeah with a 2850 strike meaning you want google to go to at least 28.50 yes it's the strike price at which you hope to at least that's where you want the puck to go per share 28.50 and intraday meaning the same day google shot as high as went to all-time highs above 29.50 so those options were like five bucks in the morning and shot to a hundred dollars in the middle of the day so you could have bought you could about one of them for 500 bucks and at the end of the day or not the end of the day but at some point during the day you could have sold them for 10 grand just the one jesus i know i know and where were you i was asleep and by the time i woke up it had already shot up to like 28.50 so i thought oh the move is over but part of it was all right it was right around that 50-day moving average so it's like all right it's either gonna get rejected again and start like maybe going having a mid-term downtrend or it's gonna swipe right above and that's what it did it shot right back above that 50-day moving average so that tells you that the strength is still just i mean it's insane and the volume that coincides with it so that's what you can do with options and the last thing i'll say here is with a stock like this where the prevailing trend has been up the odds are in your favor it's gonna keep going you know another tick tock that i saw um sorry i keep bringing up tick tock no tick tock's cool uh it is cool it's like an app we like social media yeah and there's some good videos on there yeah there's some sick vids yeah yeah follow the trillionaire mindset on tick tock on there 100 get us to like a thousand and i'll do a dance or something but i think it would like what kind of like uh what kind of dance i don't know the people dancing no like don't they do they do dances on tick-tock i'll do one oh yeah but i'll actually try it won't be like an iron that is one of them yeah squad the squash hoop dance it's like all that go on hey everybody we want to take a quick break to thank the sponsor of today's episode public that's right today's sponsor is public.com an investing app where you can buy and sell stocks crypto and more wow what i love about public is that it's social you can follow other investors and share ideas it's the best place to invest you can follow other users portfolios including people like us cody co phil defranco emma chamberlain graham stefan and thousands more that's right the app is free and there are no commissions on standard trades this dang app you know god dang it i can't even tell you i can't even tell you anything how much i love this app it's actually very cool uh a lot of you have followed me which i appreciate yeah keep following for yeah follow us for for you know big time money maker stocks public doesn't sell your trades or information to market makers like the other investment apps you'll get a free stock worth up to 70 dollars when you go to public.com trill and create an account get started today once again make sure you go to public.com trill to get a free stock link in the in the description i think it was another kind of finance stock podcast which by the way [ __ ] that this one's much better uh but they had some guy on he was talking about how he worked for a billionaire and uh i guess he was doing analysis did you see that yeah doing an analysis on some trade he was gonna pitch to the billionaire and the billionaire was like what are you doing he's like well i'm doing analysis i want to pitch you something and he's like deep in charts and [ __ ] like that and the guy was like [ __ ] all that this is this is my principle like if it's moving up and to the right most likely it's going to keep going that way if it's moving down into the right most likely it's going to keep going that way that's so true winners tend to keep winning losers tend to keep losing so is doesn't that mean now i don't mean to like offend day trading at all no but i i it's it kind of seems like options and derivatives and stuff it's just gambling it's totally gambling it's not it's there's nothing there that you're not trading on like the fundamentals of the business you're also not supporting the business at all right like if you want to support a business and you believe in a business just buy the stock and hold it absolutely okay there are i mean there are merits to buying options there are billionaires who buy options genuinely to position themselves long right like i mean but for traders yeah it's a tool uh to capitalize on moves like that because yeah you could have bought the stock outright but if you only had a thousand dollars in your account a you shouldn't be trading options and b just save your money man i don't know but there is like just how just how there are gamblers who make a living at it because they can kind of play the odds and count cards and stuff you can i mean you can make informed trades and informed decisions totally where you define your risk and you see like all right google just reported their earnings you've got this 50-day moving average right here it's near support whatever and you can kind of gauge the risk reward there so it's just it is still gambling but it's a lot more informed and yeah there's potential there yeah i think if yeah it seems like when it's your job and you know what you're doing and you spend all day actually doing research and making informed decisions yes then it probably makes sense but for someone like me who like i was i was you know i was looking at robin hood and i was trying to give it the time that you need to but i just couldn't really dedicate the right amount of time to making money on options so i only lost money and the only money i've made in the stock market is just because i was like listen shopify is the backbone of e-commerce i need to own this stock because it's i mean it's only it's only going to go up yeah and it has like that that one has made a bunch of money for me i mean not a bunch of money but i mean i had like two thousand dollars in it or something like that but it's it percentage-wise it's gone up a lot since i bought it yeah i had it at 300 bucks from the covid lowe's and i sold it at like 350 for a trade yeah and i deeply regret it yeah because i should have just held on i also i owned so many things at the covet lows that i sold because i'm a stupid idiot and shopify was another one this morning shopify when they uh you could have bought the uh what was it the 1450 strike calls they were like 75 cents you could have bought 10 of them for 750 and they went up to like 50 bucks or something like that so that's 750 dollars into 50 grand damn the amount of money and i didn't wake up guys yeah i know we're gonna have to do a re-watch of wall street too so tesla was the big thing that i really wanted to talk about because uh tesla last week the chart so this is where trading and charting kind of does make sense and can inform can help you make informed trades that are like well defined within your risk parameters and your risk appetite um so god i just this one's painful just because for so many reasons tesla's just like it just doesn't stop no it's just such a cult stock and has been for so long and it's like there was a point where no matter what news came out it just it only helped the stock because everybody kind of seemed to collectively know that there were so many haters and so many people shorting it that it's like well screw those people we can just squeeze them and then it just but now it's riding high on good news yeah they uh they announced what on monday yeah a deal with hertz yeah hertz is buying 100 000 electric vehicles from tesla yeah to uh restock their rental car fleet and the stock it was worth 4.2 billion dollars that deal so now their market cap is over a trillion hit over a trillion dollars and we got a chart here to show you what the trade could have been um so on this chart and again for those listening you got to just go to youtube that red line that i drew horizontally is the previous all-time high reached in january of this year and then it took all year for this for the price to kind of come back up it was just about 900 a share and on friday it broke above that and i wasn't paying attention and if you were a savvy trader and you're paying attention and you're watching tesla and you had this chart up on friday of last week you could have you could have easily picked up the 950 strike calls which were like five bucks you could have bought say you bought ten of them five grand and the way pricing with options works for those of you who don't know even though it's like say the option is one dollar because it controls 100 shares of stock just move the decimal over two places to the right and that's how much one contract costs so five dollar option costs five hundred dollars you buy ten of them five thousand dollars simple enough right yeah so anyway you had it was more likely than not just knowing tesla stock and how when it comes to like a resistance like that that's almost a year old that it's probably just gonna plow right through it like that just gonna break right above it because look at what happened and i put my note there wow okay no that's fine because like that's a big old candle yeah that's a huge that's a huge huge move and it just because there were probably people who were short going into that thinking oh man it's going to hit this people who bought like if you were short you were thinking oh people who bought the top in january are going to finally want to get out because it's been all year and they're finally at break even right you would think that but no so you could have bought the 900 oh does does do you see that happen yeah that happens all the time like if you know resistance becomes support and support becomes resistant so it everyone you expected everyone right there to be like all right finally i'm back even i'm dumping all my stock yeah you would think so but i mean leading up to that leading up to that you see that like kind of surge just the last couple weeks that says that there's a lot of buying interest still okay and it wouldn't surprise me if there were savvy people who knew that this hertz news was coming because someone always knows yeah like there were people because right after the news came out there were commercials on instagram right crooks my buddy on the hertz commercial was like you gotta buy big no i'm joking i was like he was like on the [ __ ] tom brady now i wish you were like working on that commercial and you knew that this news is coming and you saw this chart set up you could have but yeah go to jail do you think it's worth explaining the like i don't know if you guys have seen the meme of like people have been like well you know just a year ago hertz is bankrupt and now they're they're shelling out 4.2 billion for well they raised a lot of money because yeah but well so they went through chapter 11 bankruptcy allowing them to like restructure it doesn't mean you know it's it allows them to the court will be like there's still a good business plan here they've hit a problem which was the covet pandemic but they can still be profitable what does that mean what does chapter 11 bankruptcy so there's you don't have to pay your debts they got a lot of debt discharge there's different types i forget all the chapters on liquidation yeah so that's you're selling everything off to pay your debts and then once you've sold everything off your debts can be forgiven uh chapter 11 is usually with businesses chapter 13 is i think a similar thing for individuals but chapter 11 you're saying like look don't shut this business down there's a good business model here let us reorganize and all we need is a few tests come on that's all we need because i mean it's it is a profitable like no one could have foresaw the pandemic coming and just travel coming to a complete halt yeah so uh i saw it my friend told me on the commercial so they were yeah and they were allowed to uh have some debt forgiven they got a lot of yeah they got new investments yeah you do all kinds of stuff i mean i think this is i mean i don't know anything about this but i think it's a pretty smart move like just oh yeah surface level i looked at that and i was like that's kind of genius everyone wants to drive a tesla yes so when they go to a new city if it's cheap enough people will just rent to tesla well that's what they bought which ones do they buy the lowest yeah i think yeah so they're gonna be cheap as [ __ ] are they though that would be like i'm just curious because like they don't get any price break it's just they pay the same price elon musk tweeted that yeah because it was basically 42 000 per yeah but but i meant that's like in terms of what they're gonna like charge people to rent them right it'll probably be the same as like a jeep sure yeah then that makes because literally i don't know about you but when i rent the car i'm literally just like give me the cheapest one i don't need to roll around in like a [ __ ] oh you can drive that thing like a race car noel miller style right ripping corners making your girlfriend wheel in the front going 25 in a hyundai i also write i also think they're going to be installing it's going to help the network of chargers and everything because they're going to be installing charging stations that every hurts probably going to help their uh their ai thing too the more people out there driving the more yeah it just teaches the robot it definitely won't hurts it no i got it it hurts it was nice really good well so that news really pushed tesla and uh yeah those those 950 strike options went from like five bucks to god i think a hundred and i want to say 138 dollars so 5 000 into 138 000 you could have done jesus christ yeah or 2 500 into whatever half of 138 000 is i can't do that math in my head seventy thousand just under seventy thousand dollars and that's why you should trade options that's why you well that's why you can't there are the biggest thing with trading options is be patient wait for the fat pitch wait for the meatball man there you go and the meatball the meatballs come don't don't just when you're feeling like oh man i gotta get in there that's when you know that you shouldn't because meatballs come but you still miss the meatballs coming baby you whiff my bat is like a wet noodle and i'm just sucks god so like between yeah between google tesla and shopify with my trading style i should have easily cleared like a hundred and something thousand dollars and i you were sleeping i was sleeping but you were getting a good sleep was it good was it good i don't know no it was terrible i wake up every morning at like four to pee oh yeah ever since i turned like 25 i can't sleep through the night i can't when i sleep on my back it's there's something in my body that's like we gotta manufacture piss now and i have to pee if i pee look he's on his back quick now's our chance that's what happens my dumb body is just like yes push the piss and then i gotta go within 20 minutes yeah so if i were ever in a situation god i hope i end up in some life or death situation where they're like we can't get out of this room unless someone pees and i'm gonna be like hold on let me take a nap real quick you just lay on my back i can i can go hours without drinking any liquid but if you put me on my back my body will find it interesting it'll pull it out of the ground i don't know it sucks anywho here's the thing does tesla keep going up like it kind of seems at some point and people i i feel like people have just been waiting for it to crash eventually that's the thing so just back on the bankruptcy stock thing when a stock goes bankrupt in chapter 11 a q is put the letter q is put on the end of the i mean the ticker symbol will change to something but there's always a q at the end of it so when you see a ticker out there with a q at the end of it they're in bankruptcy proceedings and there is this whole subculture of people out there who are like the tesla q people not like q and owners okay but they've just been haters of tesla since elon took over okay because and they've rightfully so they've got a lot of good points but it's like the market is always right like price action rules above what you think and even what facts may be out there cause they do also i mean we'll do our deep dive one of these days but like they do all sorts of things to juice their numbers like uh i mean famously coin a few months ago when he bought bitcoin like without that bitcoin profit tesla would have reported a loss hey guys we want to take a quick break to thank the sponsor of today's episode trade coffee we get almost everything delivered to us these days why should coffee be any different let trade bring the best coffee right to your front door trade's goal is to make every cup of coffee your best ever yeah the journey to the perfect cup starts with taking their coffee quiz i took this thing it's very impressive the uh what they did here because they they cater it to you they get to know you you use a french press you fancy guy automatic drip huh you're boring you're a cold brew person no problem your answers will allow trade to pair you with the perfect coffee to fit your taste trade will match you to coffees you'll love from 400 plus craft coffees and we'll send you a freshly roasted bag as often as you like wow yeah trade guarantees you'll love your first match on the off chance you don't they'll replace it with a different bag for free wow give feedback as you sip as your preferences evolve your coffee matches will too you can feel good about each cup since trade partners with 55 plus small us-based roasters who are committed to ethical and sustainable sourcing for our listeners right now trade is offering your first bag free and five dollars off your bundle at checkout to get yours go to drinktrade.com trill and use promo code trill take the quiz like i did to start your journey to the perfect cup that's drinktrade.comtrill promo code trill for your first bag free and five dollars off your bundle enjoy well i mean that's just an interesting question because a lot of people are saying on the internet like how like like i'm wondering if you can explain tesla's valuation because i i think i saw something online where it was like it was a chart where tesla is now at a trillion dollars and it was like the next nine car manufacturers combined didn't have a market cap trillion dollars and actually i'll add to that i have i have a question about like uh a company's market cap or what they're trading at in relation to their profits or their revenue ratio yeah yeah price earnings yes priced earnings it tesla is like remarkably high oh it's like 400 and something yeah which is just no and it goes back to what you were talking like you know you were saying like isn't this all just gambling and i mean it seems like a running threat of this show is that like our economy is just based on speculation and not people actually creating yeah products or you know well it's just all speculation it's all consumerism and rampant speculation yeah and gambling gambling but like you guys bring up really interesting questions and points um a lot of the metrics that the old school used to use like p e ratios like market cap just doesn't seem to matter anymore like they do it's kind of like confirmation bias like oh if something drops from great heights and it's like well it was sporting a two trillion dollar evaluation it was bound to come down it's like is that really what did it who knows valuations it just sort of it's it's all crowd and heard thinking these days it's just like do you like the company do you want to own it yes or no and it like p e ratios and market caps be damned we're in like this new and who knows if it's temporary or it's permanent where it's just it doesn't matter you want to own shopify you got to own shopify you want to buy amazon you've got to own amazon it just doesn't matter what their what valuation metrics you use because for every one where it's like oh their pc pe ratio is 400 and something it's like yeah well you could just as well say that the potential market for automated taxis is in the trillion so by that metric it's actually undervalued which is a lot of what the like tesla permabulls ah but also like elon musk's brand is factored into that absolutely to some extent like he has a [ __ ] ton of fans yeah and part of it is buying into his cult yes and people feel like by proxy you're kind of buying into like spacex and starlink yeah because who knows how he's going to maybe meld those companies one day to be under one big hyperloop yeah it's all i mean boring the boring company the flamethrower guy company how is he going to tie all those together uh i don't know it's going to be under some stupid acronym like it's going to be called like 69 or something so he can giggle 69 oh it's going to be called um sheba chiba coin tesla 420 oh terrible that was pretty good honestly it was a good impression i just he oh man well is this a good time to well yeah so his network the news he his net worth went up 36 billion dollars the most in a single day he did it this is what he tweeted on the day he tweeted well he tweeted wild times with the emphasis on the one trillion dollar market yeah i thought i kind of i mean i guess it still kind of is a flex but i thought he was talking about his net worth no he i guess he kind of is oh yeah michael saylor michael saylor the ceo of uh microstrategy who pivoted to bitcoin tweeted congratulations the first trillion is always the hardest which is a play on who was it i think charlie munger or something said that to some rapper like the first million the first billion is the hardest i don't know man first cut is the deepest charlie munger do you guys know who charlie munger is oh the old jazz drummer he no charlie munger is um he's uh warren buffett's like right-hand man business partner but i saw an interview with him he's like he all he does now is go on speaking tours because everybody considers him and warren buffett to be the best nancy's oh that's awkward and weird these guys nancy huggins and nancy barry girls yeah anyway so charlie uh charlie was asked what he thinks about elon musk and he said something like um people who think highly of themselves tend to like actually live up to that kind of something like that i'm paraphrasing it was something like that but then uh he said he doesn't own tesla stock wouldn't buy it but he also wouldn't sell it short which is kind of what a lot of people think it's just like you don't know it just let it be it could because before it chill before it became this prolific like gotta own it thing it was uh it was pretty volatile like there were days when it would drop 20 on because it was all hanging on like how many cars are they going to be able to produce and all the all the perma bears the guys who hate tesla would point out like they're making cars intense in parking right right and they love to point out how they have like the the craftsmanship on these things the build quality is just garbage like gaps in the oh my god i see talks about that all the time yeah me too but it was also kind of because like it wasn't for sure that the ev market was like here to stay wasn't it like even five years ago people were still like oh i don't know if this is gonna you know catch on yeah yeah and now everyone obviously it's the future but yeah i'm looking for a new car and i was like i basically paused because all the supply chain issues i was like i don't want to pay more for a [ __ ] part this stuff will all come back down but then i was like i was just looking at a regular gas car and i was like this feels [ __ ] stupid to get a gas car i should just get an electric vehicle you want to buy my old volvo is it electric no no i mean it's got electric parts to it it's got a radio it's got a cassette tape i want that new subaru electric coming out in 2022 yeah well so do you guys like elon no no no not a fan not a i think i think elon these nuts in your mouth i could have gotten you there with something elon elon that's nothing but uh i just it was perfectly set up it was these nuts in your mouth if it was something it could have been elon felix feel on these nuts oh man you got me dang it i walked right into that well i'm gonna get somebody one day felon i bet he would crack up he would love that very good he made a decent joke with my name are you an elon fan not really i mean i don't know you're not i think he's definitely changed the world yeah you're not one of them really are you elon stands no okay you guys all know the meme where it's like the it's the simpsons thing and it's like homer jumping in front of a poo and it's like elon musk weird nerds on the internet oh yeah how they would basically take a bullet for him yeah and it's just inexplicable wow she's the richest guy in the world and you guys are like no he's actually good he's tony stark no he's not uh yeah he's i think he's worth now almost 300 billion dollars good for him it's just good for oh my god no he did it so we we have he he tweeted something about the wealth tax um he said uh according to their own estimates this so just a little background there's a there's a reconciliation package that's been i mean it's been going on for months it's it's a [ __ ] joke at this point but uh they are talking about ways they're gonna raise the money to do this and one of them they floated was a billionaire tax it would be a tax on like unrealized gains the wealthiest people and uh but yeah it's unrealized gains right which so which is like kind of ridiculous but for billionaires that definitely makes sense because they don't pay taxes because they just hold stock and then they take out loans right against the stock against the stock that's what elon does yes so then they paid zero stock because they don't make a salary right but they're still rich as [ __ ] so this kind of makes sense i think it does but in his tweet no no not not his tweet i'm talking about the the unrealized gains tax oh yeah i don't know the unrealized gains tax is like yeah i don't really know cause yeah someone like elon musk if he's got a 50 billion dollar tax bill and then he has to liquidate the only thing that he has which is tesla stock it could hurt the stock price which could then have you know there's a slippery slope i guess some people think because it could have cascading effects and like mitt romney was like all the billionaires aren't going to want to participate in the stock market anymore they're going to want to buy valuable art instead which is famously liquid yeah they already got that we can play the clip uh but yeah that's it's just great he went up 36 billion in a day and he's already complaining about yeah elon elon said and he's trying to pin it on so he says according to their own estimates this tax only covers ten percent of three three and a half trillion dollar spending bill which is fine it does it's not like there are other ways to make money there are other ways to raise money yeah it doesn't mean it doesn't mean that it's not going to cover it and then he says where will the other 90 come from the answer is you and he's saying like that's going to come from ordinary people and it's like that's a tax on 700 of the wealthiest people in the [ __ ] country yeah there are other ways to raise revenue it's like this is and he's just trying to make it like just everything to get everybody to be like yeah the richest man in the world yeah yeah it's insane and then he says uh u.s national debt is roughly 28.9 trillion or roughly 230 000 per taxpayer even taxing all billionaires he puts in quotes at 100 would make only a small dent in that number so obviously the rest must come from the general public this is basic math spending is the real problem he's not wrong he links to usdclock.org and we've covered what the debt is it's the issuance of bonds that the government then has to pay interest on it's not necessarily the same thing as you or i racking up credit card debt right because we can't we're not buying and spending with ben bucks where i can just print as many as i want it's like right he's doing like a crazy weird right-wing talking point of like it's not even right like many people use this like they they use the debt as a reason why we can't spend anything and don't get me wrong the government shouldn't the government does have spending problems like we shouldn't be we do waste money left and right but come on son i bet he'd be he'd be singing a different tune if the government bought some teslas well i mean i think he gets paid i think he has sung a different tune i mean you can look it up he's he's he's been saved and bailed out by by government subsidies to the tune of like 5.9 billion tesla has dollars by the skin of their teeth because of government subsidies like mitt romney he used to [ __ ] i think he used to dog on obama for like saving tesla he was like it's a failure that's part of why i think uh elon musk is untouchable because of spacex because he knows that's i'm convinced that part of the reason why he just openly mocked the sec the securities and exchange commission and he's untouchable because the government needs spacex and they need him to stay solvent they need they need elon musk man so is this a good time to uh buy tesla stock no touch on the the other news of uh you know the top one percent now have more wealth than the entire middle class which is 60 of americans jesus christ they did it guys congrats can i this isn't my jar do we have the jar of pennies this was that's that's what it looks like to be in the top one percent yeah that's a you got a cigarette floozies behind you and you're playing you're playing uh what is that croquet yep uh they give you a bow tie actually as soon as you crack the top one percent they give you a bow tie but this is this was a funny like it's your honorable i thought it was gonna be stupid to uh even cover because i was like oh everyone's gonna talk i haven't seen it really anywhere and i think it's kind of a bummer to me like it makes me feel like these new stories will just keep coming out and being like the rich have dunked on the poor once again yeah and own more and more and no one will care they'll just go yeah that's just how here's a question so so there's like now there's like a record number of wealth in like the boomer generation that has yet to trickle down right how is that eventually going to happen when they die yeah because they are taking it with them they might i mean it might not happen a lot of boomers might just say screw it i'm going to buy an rv i'm going to buy a jet ski i'm going to buy a second home but their arteries are so clogged with mcdonald's that i don't know if that's going to happen the government's putting what's that stuff in the water fluoride in the water to poison them they they need to kill boomers because social security is not going to be funded for by the time we reach 20 30 or something i don't know what i'm saying yeah we can fund it but that wealth does eventually go somewhere when when they pass away and when they have to start taking it out of their iras if they've got traditional iras they have to take out the required minimal minimum um uh withdrawal is like i don't know six thousand dollars or something like that or some percentage when you're 72 and a half i think but uh it eventually does start to come out but but doesn't it also happen like you know when the economy suffers and stock market goes down so people are able to get in because other people are selling right their wealth yeah early that should be something that happens but it has not happened because well it happens so much faster these days because everybody now all millennials we are now older and a lot of us have money in our pockets that we are ready to like swoop in and buy the dip there's also the the passive uh investment boom where people just you know they max out their 401 k so at the start of every month there's this massive inflow of money coming into the stock market from people contributing to their 401ks their iras their pension funds like everything just there's this there's so much cash out there just sitting on the sidelines it's insane i think it's over like two trillion dollars in cash that people have that yeah i'd like yeah it'll be tight you should do a heist of some sort steal something from somebody i don't know but what's infuriating for a lot of people myself included is the the wealth disparity especially over the last two years has largely been created by the federal reserve and by jerome powell who was in such an impossible position because he had to they had to step in and do something to like stem the bleeding and stop the bleeding and it worked but at what cost it's like it so when you see all these headlines about people the rich becoming richer it's because they did the only thing that they could do and they [Music] uh they stopped the stock market from going down and they implemented easy money policies that made it so that stocks would just rock it right back up to all-time highs and beyond which helps who the rich people who own the stock do you guys want me to explain why that happens it's very simple yes yes okay good because if you said no i was just going no let's talk about something okay is that why this is here so yeah this is the visualization that i'm gonna get to in a moment this handy uh bucket of pennies this isn't a bucket this is a i don't know what this is what do you call these things pictures pitcher thank you very much so the federal reserve uh how do i explain this uh the federal reserve wanted to inject money into the system because liquidity is everything and liquidity is good and when there is a lack of liquidity that's when prices tend to just plummet or you know it can skyrocket too but generally it's in the other direction an undesirable direction and the way that they inject money into the system is and what they did was they buy bonds every day tens of billions of dollars worth of bonds and they buy it from institutions banks and so these if you're a bank and the fed is buying bonds from you that you hold they're buying them back suddenly you've got cash right or if you're an individual who's got bonds you've got cash what are you going to do with that cash where else is it going to go but the stock market and part of it also is because the fed lowers interest rates so that it's not smart to hold bonds because the yield on them is so low it's like why am i going to hold a billion dollars worth of bonds that are yielding 1.1 percent when i can park that money in the stock market and make more yield so it's like this feedback loop and that's why you see the covid drop just went like this and then absolutely just rocketed well beyond and into all-time highs because the only place to put your money is the stock market makes sense and it's like that works and that's good and that helps a lot of people especially if you're middle class and you've got a 401k in an ira but at the same time it's like it does serve to expand that wealth gap which begs the question that we wanted to get into is how much is enough right how much is there and should there should there be a wealth cap but i also think it goes along with something else we were talking about which i mean so there's more to it there's there's politics policy decisions and there's uh there's you know corporate greed that goes into this i mean i don't know i'm sure people have heard the term striketober there's a lot of uh i mean not that many there but the biggest one is probably john deere with the united auto workers i mean that's a huge check that's ten thousand that's ten thousand workers on strike right why are they going on strike uh well number one i think they were pissed off after the pandemic a lot of workers are feeling this where they were called essential and now all of a sudden they're like okay business is back to normal and uh you know they're not seeing the wage increases they should have i think their i think their wage increase didn't even match inflation they also did this thing which is becoming pretty common now of uh they're tearing off employees so they're saying like tier one employees can still get all these benefits if you're in after a certain amount of time if you get hired now you're tier two you don't have access to the same healthcare benefits you don't have access to the same pensions and luckily you're seeing solidarity like tier one people are saying like no we're going on strike with them like we don't want these tiers anymore um and like and you you'll have a lot of there'll be intergenerational workers so i mean there may be people who are like i want you know my sons and daughters to have access to the same benefits and wages that i have um but i mean there's also i don't think they've gone on strike yet kaiser nurses are at like i think most recently it's at like 40 000 nurses out of like 200 000 are ready to strike uh ayatsi everyone i'm sure has heard about the uh film production and tv production people uh they averted a strike but they still have to vote on it so they could still strike there's nurses in massachusetts on strike um it's i mean people are sick of it yeah and people get up and i mean there was a like someone did a nice little tweet thread of like what you know these companies profits and how much they could be making if they just gave everyone pretty sizable raises like we're talking about like 20 an hour yeah um so yeah people are pissed and you know there's a tight labor market meaning that like if someone walks off the job it's not very easy for them to just replace them so they have a little bit of power but i mean it's still it's not great i mean because they're seeing like for john deere as an example they're seeing oh this company that i work for now is posting record profits right ceo's getting a huge bonus exactly dividends are being increased they're paying the shareholders they're sharing it with the shareholders where's our cut right which is like you know that's totally valid is the maximum wage for like executives i think the maximum wage i mean would sweden would uh yes the maximum wage that was an old article that we had switzerland there was a push for maximum wage uh for but i mean yeah i imagine it would i mean it could be anyone but i imagine it would mostly hit the like executives um they were pushing for a maximum wage there was going to be a ratio from a multiple right i think they were pushing over wage which would encourage them to raise wages if they want to make more too yes yeah exactly like hey ceo man you want to make more money bump up that pay for the janitor guys scrubbing the poop off the toilets right so yeah there's a lot going on i mean but i think it's like 10 of the labor force in america is unionized right now which is not much uh and i'm sure everyone's seen that meme of like as as union membership goes up wealth inequality goes down they're like two x's like they just cross interesting um so yeah i mean it's interesting to watch if you guys do have any interest in this there's a guy jonah furman he runs labor notes he's got all the all the updates on labor across the country oh yeah sure but i mean this is this is uh it's like important stuff i mean i don't think people really pay attention to this stuff and like talking to just people they were like oh that's great like they're gonna fight for their rights and stuff and it's like it sucks man like like john deere said they wouldn't cut off their health care and now they're going and workers are finding out that their health care has been cut off one guy died in illinois he got hit by a truck while he was picketing um they get like egged people [ __ ] swerve at him as they're driving by it's no joke you know people should not have to risk their lives to get a fair wage yeah it's uh someone should write john deere dear john nice i stole that from some movie i don't remember a dear john is a letter that you would write someone i guess back when people wrote letters boys i wanted to visualize something for you oh yeah right okay so what is it you see all these pennies yep should i pour them out to illustrate my point because this pisses me off man hey emil hey yeah what are you doing that's like god that's annoying as hell isn't it isn't that so annoying who's gonna [ __ ] clean this up i'll clean them up but that's really annoying isn't it why why is that annoying there's so many there's so many pennies right there so they're like you know how many pennies are there they're everywhere there are exactly ten thousand pennies there you just pour ten thousand pennies on yeah that's ten or wait is it a thousand a thousand bucks no it's ten ten dollars worth of pennies so that's a thousand pennies sucker yeah now it's your problem that's so many pennies that you would have to pick up so this is my visualization for how much just a billion dollars is a one billion dollar billion to who to to who what okay okay wait in compared to what every penny is worth a million dollars every penny is a million dollars okay that's so much millions of dollars right there that's just one billion and mfers like jeff bezos and elon musk have like hundreds hundreds of those what are they called pitchers full of those pennies can they dump one of them on me exactly pour them down my shirt and into my pants yeah i'll do it i'm manscaped okay i use manscaped promo code trill and no more bush no more bush so i can fit a lot more pennies down there but i wanted to drive this point home at just because we talk about it so much and people defend oh yeah you should be able to make as much as you want to your heart's content but well that's been the absolute weirdest thing to me is like the people coming out of the woodwork like defending billions they're going to have a shot and they love to say you know oh they worked hard for that it's like sure maybe but like a lot of people work hard there's like it eventually takes other people to like you know to make it happen but here's my whole thing we adjust or we should at least adjust the minimum wage as society goes on and as the culture shifts and as economics change and we adjust we're supposed to adjust the minimum wage accordingly and it's like we don't do that for the top it and okay so like that's fine sure maybe you should leave it but let's just say theoretically what if tesla triples from here and what if elon musk becomes worth seven hundred and fifty billion dollars then we have to are we the emperor of the world like seriously but like is are we cool with that with one guy having that much what if he becomes a trillionaire he will he becomes the first are we collectively as a society not going to stop and say hey maybe we should reevaluate the rules like well peddling like shitty ass memes on twitter yeah well that's exactly what i was going to say tweet about oh god i am not looking forward to when he hits 420 billion he just buys every country oh 420 billion it's gonna be like oh ho oh four four twenty whoa oh god that dork that massive dork what there's a foreign coin in here you should probably get coveted tested now after touching a hundred a thousand thousand thousand pennies but that's just one bit like if you were to take 200 of those pennies and buy a mega mansion and then another 100 pennies and buy a yacht and like i don't know 50 to do whatever you would still have 600 pennies left 600 million dollars to do whatever with so like i'm not even saying cap it at a billion capital 20. that's more than enough for a hundred lifetimes yeah why do we need but then that begs the question okay who is going to what do you trust the government with it i mean that's not like i'm a you know anarchist no no sure not like i'm like uh i don't trust a government i don't for the most part but like what are they gonna do it to fund a war i don't want that either but i'm just saying we gotta have a conversation we gotta talk about it yeah i mean more podcasts i don't see any way out of this at all i mean they i mean the way they like elon musk's response to be like completely against more taxes is just like it's psychotic i mean they're and they're such [ __ ] crybabies i had like a clip of stephanie rule from msnbc when she uh joe biden had just said like you know it's it's screen versus park at park avenue and she's like i live close to park avenue and i take offense to that sir and because i worked very hard to get here right we're not saying that anything number one it's just a [ __ ] campaign thing they always go like i'm looking out for you it's main street versus wall street and they never do it stephanie it's just a lie they say they're gonna help poor people and they don't do it and like joe biden i mean this is the guy who went to donors and said look nothing's gonna fundamentally change and so like they are just such [ __ ] crybabies as as soon as you want to make like the slightest change to make someone's life a little bit better they're like well i worked for this i worked so hard for it yeah cody what do you think should there be a a limit to how many pennies you can get yeah probably and like so yeah what what i think elon musk having 700 billion dollars would be way too much yeah because no one should have that much power yeah because it's everything yeah and it's wielding undue unfair power over countless billions of other people in politics culture economics everything that matters having that much money i mean you're more than several countries combined like that's that's profound and that's something that i think is on a scale that most of us can't really comprehend how much money that is oh yeah i mean we're at their whim i mean we were joking around about the elon musk tweet we will coo whoever we want um i mean and we're talking about the climate crisis and you know we need to electrify but i mean you would hope that we would do that in a uh ethical dignified way and we have elon musk the richest man in the world talking about cooing countries with lithium mines that have nationalized them so that they can uh so that they can make sure that their their country can properly profit off those materials they're wealthy and damn yeah that's intense like that is a dark [ __ ] tweet yeah there was a guy in 1934 the governor of louisiana um started this movement called share our wealth uh because he thought that the great depression was partly caused by wealth disparity which sure it was um but it was interesting i was looking this up um the proposed bill was to cap personal fortunes at 100 million dollars which in 2021 money is 2 billion and limit annual income to 20 million dollars in 2021 in today's income and cap uh inheritances at uh just about 99 million um and the rest will go to the government well they said that the resulting funds would be used to guarantee every family a basic household grant of five thousand dollars and minimum annual income of two to three thousand dollars supplemented with free college education with an iq test you get to go back when that was the thing vocational training race related 1934 was kind of a tough time public works projects and a month's vacation for every worker that sounds cool like that sounds doable but again it comes down to whether or not the government is responsible and you know yeah good enough to get that kind of thing done which you don't think that would stifle innovation yeah i think it could be well that depends because like would someone like elon musk or jeff bezos just starting out be like well it's not worth doing because they're going to cap me exactly i think if you were capped at billions of dollars these guys would just be like what's the point i can't take over the world yeah you do probably partly like if they get to a point let's say they reach that they would just be like all right well screw it like i made my cap and why i'm just gonna retire or something i don't know there obviously has to be some sort of it's got to be thought out more where it's like all right maybe it gets distributed in i don't know if i buy it though i mean we've just let it it doesn't all have to be based on that right like we've let privatization and like corporate greed and everything take over to a point where we've become accustomed to the you know the public sector being unable to do these things and it was like in the early 1960s jfk you know he said we're going to the moon he said you know we're not going because it's easy we're going because it's hard because it's hot we had no [ __ ] space program yeah and then in 1969 we went to the [ __ ] moon you know and the government did it right now it wasn't but now we pretend like we're just completely engaged without yeah well and part of that is because they strip government programs of all the funding and then they say see look how ineffective this is and you know you know i don't know it's crazy that people like space tourism is like people give a [ __ ] about that oh my god william shatner went to space it's like we [ __ ] did this for so long we did yeah we went way further yeah way further way further what the [ __ ] it's like no one gives a [ __ ] yeah i i don't find it inspirational no would you ever do it i would never [ __ ] do it would i go to space no hell yeah no yeah why would you want to go to space cause we got enough here let's let's work you got this [ __ ] you got meta man you can go in exactly exactly you can see and you can go with a sweet rack too dude you can float in space with mark zuckerberg with a rocking set of boobies he's just up there oh i man can you imagine like the movie uh her like uh joaquin phoenix oh yeah he's married to his phone or whatever but it's you married to mark zuckerberg in vr with mega boobs just giant hentai boobs different movie altogether [Laughter] you put him on that surfboard that he rides so that they wiggle a little bit sorry uh last thing real fast stop uh decrying wealth inequality long enough to um yeah ask cody some questions investments our very special guest here i guess my my off the top of the off the top of the dome yeah just off the dump what's your favorite investment you're in man i want to say june shine that's my guess because you like to drink it i do like june china and it's like also a really cool company just genuinely like i don't know everyone involved is super dope the other investors are really cool whitney cummings is one of them diplo's one of them and then like a whole bunch of other pro servers and athletes and stuff so it's just like fun it's a great company you know it's just like it makes me feel cooler being involved with a company like that that they even like you know we're like yeah you can you can come sit at the table with us um i i definitely like that i make my own uh i make my own at home so if you guys ever want to do a special edition uh brew from me you make spiked kombucha oh mine's not spiked okay [ __ ] so it's like the boring kombucha yeah healthy stuff it's for my gut health i'm gonna have to pass hey i had to take my shot yeah if you could invest in any company currently public or private actually no private because wait wait my favorite one though yeah favorite is liquid death i think yeah you like i think it is well it's just it's just blowing the [ __ ] up it's everywhere really and yeah and when we put i like the the and the reason why we invested is i just cold emailed the ceo and i said dude i drink your [ __ ] all the time wow like i want to drink it on the podcast and it makes sense for me to put money in if you'll have it and he was like uh we just are actually raising our series a now uh live nation is leading it but like we'd love to have you on board because it makes sense so we'll make some room for you and i was like fantastic and since then they're at every music venue every festival everyone is holding liquid death it's huge wow i think it's like probably one of the most fastest growing non-alcoholic beverages of all time interesting and the beverages i have seen sober people really like it because yeah they it makes them look like they're holding something at a party yeah and they're just drinking like sparkling flat water and when you say we we is you and your investing partner yes my friend devon yeah dev is the co-founder of cameo so you guys set up what like an llc or something is it an llc yeah cool and what do you call it dumb money capital dumb money capital it was like a it was like a it's and you know like uh we wanted to invest in private companies and uh so this is kind of like the first step in doing that is just angel investing but we do it together because he he gets great deal flow just because he's like super involved in the tech world oh yeah for me it's because creator economy space is heating up so much everyone seems to want a creator on their cap table so it made so much sense for us to do it together and learn together um i like this way more than investing in the stock market obviously it's way riskier sure um it's you know way more unknowns like it's it's a this is a gamble too right right sure probably way more fulfilling though it is and it's like i came from the tech world i worked in startups i was a software engineer out of college and so i was always obsessed with silicon valley culture and um you know what's the road in palo alto uh silk valley no no rose what the [ __ ] the rosewood hotel is on the silk what the [ __ ] is this like sequoia has their offices on there god damn it anyways obsessed with like vc culture and decided i would read i would read like tech crunch religiously sure about which companies are raising and all that stuff it's like you have to be you know this is 2012 2013 in silicon valley it's like apps are at their peak everyone's talking about who's raising how much money especially in the bay and so like i used to just envy and just want to be part of that whole world and so now that i can and i can be involved with startups without having to like you know sweat and grind every day because we're grinding on this stuff instead it's really fulfilling it's cool that i can still be a part of it and i can offer whatever help i can give like getting other creators on the cap table how hands-on do you get i mean like i mean with someone like moment house which is another one of our investments like that's pretty hands-on because we're using the platform and we're helping them they're helping us make money but we're also helping them make money yeah and so that totally makes sense that's like symbiotic um is that the right word yeah sure [ __ ] it totally would you say that you call people out for wrong words yeah no you could use the wrong word all day and we'll be like yes sir good word would you say that one all your investments are kind of you kind of similar to noelle you kind of buy what you know right like you like you like the product you buy it it's straightforward you know you know you're not necessarily going for like a biotech or something yeah i think that not that you wouldn't i think that makes the most sense for someone like me who doesn't have a team behind them doing analysis and research and you know every vc firm has a group of analysts that spend all day analyzing the market where this company sits who their competitors are what the upside is i don't so it's like i drink june shine it's a cool company they want me involved [ __ ] yeah let's do it liquid death same thing um and then and then with stuff like crypto like with with lolli which is the bitcoin rewards company um and then we also invested in autograph which is an nfd company that's just because like i want exposure to that without having to trade nfts myself yeah because i you know i've tried that i've lost a bunch of money doing that too i made money but then i lost it all again so what did you buy i bought like i got really lucky i minted this nft and it turns out it was rare so i sold it i made nine grand and then i put that all back into nfts and now they're just sitting there as pictures yeah i'm like i don't these are probably worth nothing no you're going to display them in meta in your meta oh yeah yeah next to the portrait of nobody's going to see them because they're going to be looking at my rack that's true i really hope that someone hacks meta eventually to make every single avatar everybody's just good big rack big boots just milkers i would i would [ __ ] spend the milk everybody would spend the milk reverse oh jeez louise uh yeah it just yeah i don't know i like this and and stuff with like with stocks and i guess with options and um with crypto it's like i i'm i have a really addictive personality and so when i'm primarily trying to when that's my primary like vehicle of investment it's just me checking the [ __ ] all day yeah and being becoming obsessed with it and it's just like so unhealthy if it's not your main thing you know it's like i have to make us be creative and make content and it's like i can't be thinking about what [ __ ] coins are popping at the moment you know like i bought [ __ ] fifteen hundred dollars in sheep yesterday like a dumb ass like you said at the peak but everyone's talking about it i'm like i wanna end so wait did you buy it at point zero zero zero zero zero eight i don't know what the [ __ ] i bought it i don't know that tweet about that guy that invested five grand like in january was it i think and now it's worth five point two billion oh no it was eight grand this person bought it 370 days ago and now it's uh it's um yeah it's worth like four and a half billion dollars can we pull up that tweet i'm i'm betting that whoever bought it i think it's either the creator of of the coin or it's some poor idiot who's locked out of their wallet yes i think i think that's the case oh those are the saddest the guys who just have like millions sitting in a wallet they can't get into yeah but i think it's actually i think this guy like lives in blissful ignorance this is the scenario i've developed in my head he signed up for binance or like uh you know sushi swap or one of these ones where you can buy like [ __ ] coins right and he like you know got to the point where he could buy like a thousand dollars or five thousand dollars worth of something he's like she but you know that one sounds funny and he buys it and then the website's like oh you have to verify your identity before you can buy any more and he was like i don't want to do that and so he just forgot about the account hasn't checked it since because he doesn't want to go through that last step of like verifying it and there's a billion dollars sitting in there and he has no idea and there's enough volume to be able to liquidate all of that i mean you would still make a pretty big dent but like the other day it traded 30 billion dollars worth and if he's holding five billion he could liquidate all that it wouldn't be worth five billion dollars anymore it would he'd probably only be able to get one or two after he uh hits the sell button yeah this wallet this tweet here reads this wallet bought roughly eight thousand dollars worth of shiba uh sheba last august it's now worth 5.7 billion from 8 000 to 5.7 billion in roughly 400 days we may actually be looking at the greatest individual trades of all time see this is how you know for sure that we are in a bubble and i'm not saying crypto is not the future i think blockchain i think everything is going to be on the blockchain in 10 to 15 years right i think we're in like the dial-up uh era phase of web 3. right but this just like the dot-com bubble this is going to end badly like every month there's a new scenario where someone could become a billionaire off of hundreds of dollars it just shouldn't happen it doesn't make sense right uh people like to older guys like to compare it to pets.com pets.com was like one of the biggest bubble stocks in the uh 2000 you know uh dot com era bubble um it's uh also just to all the crypto nerds out there who leave comments saying like you guys are ignorant yeah i'm ignorant i don't know enough about this stuff that doesn't mean that i hate it i don't like this kind of crap that happens because it makes me feel bad i own some crypto sun i own some tasos and matic polygon yeah yeah yeah i have that one too i love tasos do you know anything about tasos no tasers tasers taste those nuts in your mouth oh dude you said i was gonna get you with that oh what i think uh i think uh what oh wait i haven't answered your question though any any company that i would want to invest in right now it would probably be it's probably yeah have you heard of pipe dude what are you doing no no no no no i'm gonna do it again pipe is a company that's like creating a new asset class basically by allowing companies that do monthly subscriptions to sell their like a year's worth of their monthly subscriptions to raise money so that they don't have to sell their equity what wait yeah wait what so like wait what like for us on patreon for example right we could sell a year's worth of our monthly partnership our monthly subscriptions well i think if they go up then that company probably keeps the difference right but if we want to raise money right now without without having to go to investors and give up some of our company we basically just say okay well this now you get a year's worth here's how much it costs we take that money we use it to grow our company right and they own that asset basically and so if we generate more monthly subscriptions then they probably keep that difference or something interesting okay and it's called pipe pipe yeah oh you're like selling the right to the patreon subscriptions yes basically get paid by the year charged by oh interesting pipe transforms recurring revenue into upfront capital for growth without debt or dilution i see yeah ah interesting or it would be like ftx have you seen that company oh it just raised like 270 million or something god like and they came out of nowhere i know and the the founder one of the founders is worth like 22 billion dollars or something like that yeah i mean it would have to probably be something he also created which is uh solana is one salon is one that started out where you could only get it on a swap on like uniswap and for for those of you who do you know anything about that basically there are cryptos where you can buy them on exchanges like binance or like coinbase but then there are ones that are so obscure you can only get them by means of using these swap apps where like they exist the crypto exists but you have to buy like bitcoin or buy ethereum and then log on and just tell it like all right i want to exchange it for like sheba was one where you could only do that yeah crypto for crypto um oh yeah can we watch these tick tocks real fast but i wanted to watch just real quick there's the mr the the one the mr wonderful um this is the corniest thing i've seen in a long time hell yeah it's mr wonderful from shark tank oh [ __ ] look you love crypto you gotta talk about shiba you know can you believe what's going on up 40 just today 86 this month massive 27 billion market cap 11th largest in the entire crypto space come on is that investing or is that just speculating wait [Music] i'm just playing my guitar man whoa hey you seen this shiba coin what's up 40 sounds like joe biden i'm not rake i'm not like regular investors i'm a cool investor i'm a cool look at his guitar he's got his own face on that guitar and what is investing or is that speculation i don't know it's just funny that he's clearly like trying to participate in the conversation um what is the caption what is going on why is it rallying like this comment your thoughts comment your thoughts oh he doesn't even have that much interaction he's only got like 5 700 likes sad that's pathetic i spit on that look at this comment this person says get a hat that fits bro own dude user five one seven eight double fours you know god leave a comment and roast me yeah why like why why does he need to be in on this conversation like he's worth so much [ __ ] money what are you doing talking about shebe if i were him i would just be rocking that guitar and minding my own damn business i hate him i've found that rich people have a hard time minding their own yeah what are you gonna do with all those pennies man spend them ten dollars worth of spend them put it in it sucks about all those pennies all right and then there was this other poor schlub this uh this british guy um we want to play the first one i think uh i just got a message from a couple of mates and they told me that this token called shiba inu it's cryptocurrency has gone up 67 million percent since he's gonna cry oh wow this is since january last year is this real yeah i don't like this now in january last year i was browsing reddit and i came across a subreddit that recommended buying these meme tokens and one of them was ship shiba inu now at the time i put two thousand dollars into it and i left it for a couple of weeks and i lost 300 pounds uh i sold it a loss anyway it turns out that would now be worth one billion dollars if i hadn't sold it ugh yeah but he would have never hung on to it he would never hung on but he asks a very poignant question how do you live with that this is so this is going to become so much more common and there are probably people out there who we don't even know about who are locked out of their wallets who sold you know oh that's what sucks is the heartbreak just so widespread you gotta see this other video of him oh my god i i know there's tons of comments that are like paper hands [ __ ] yeah [ __ ] of hell yeah paper hands but look at this other quick tick duck so i choose to allow oh i've seen this uh sleep with other men no that doesn't give you the right to call me a cuck and this is a message for all the people out there using that hateful language hateful why don't you try going a day in my shoes where you are with someone you love very much and you want them to be able to express themselves physically and spiritually in a way that perhaps they can't do with just you and personally i would never sleep with another woman i love my girlfriend very much but i choose to buy a girl airpods all right that does not make me a simp is that why don't you try walking a day in my shoes try walking a day in my shoes i get horny's hell i buy airpods i get the points for the credit card i'm not losing in this transaction i'm not a cook the worst part about that video is he said do i sleep with other people no i don't doesn't he oh yeah no he says that he doesn't do it because he doesn't want to or something but uh that poor guy double whammy of just embarrassing yourself online it just doesn't end this poor guy anyway are we gonna end it on a bummer yeah it's a sad one that guy's girlfriend he's crying about not having a billion dollars and his girlfriend's out there getting wheelbarrowed you like that wheelbarrowed he's getting wheelbarrowed by i'm just sad for this man yeah i didn't even think of that he's there crying about how he could have had a billion dollars and meanwhile his girlfriends it's getting plowed yeah well that's the trillionaire mindset baby yeah yeah sometimes you lose big yes guys buy sheeb please i need to go back up please i'm not even killing it i'm not even gonna be like it's the next thing i needed to go back up because i am losing money there please buy it 30 billion dollars out there circulating in this thing i hope that you can make a dent with that plea it'll probably it'll probably go up another 50 it wouldn't surprise me because now it's so mainstream everybody's on it so it probably gets one last surge before the rug gets pulled yeah but who knows follow us on spotify follow us on spotify subscribe subscribe subscribe if you're watching on youtube please make sure to hit the like button hit that like button smash thanks for cody for coming on yeah thanks good thank you i hope this was fun for you guys sorry no i know i just come on and i just make penis jokes we talked so much and i feel like we were just hugging and you no but this i love this podcast i swear to god i'm a fan i listen to it every week so just to listen to it in person was a lot of fun for me i loved it i also feel like i'm yelling in your ear but okay no i loved it thanks everybody so long bye

Channel: TMG Studios

Views: 251,880

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Id: Zi4tHURL2BY

Length: 95min 0sec (5700 seconds)

Published: Mon Nov 01 2021