Kevin O'Leary and Grant Cardone on Cashflow and Bitcoin

you know you're probably my favorite shark i mean you are your style is just much much more truthful honest like there's no business here there's no cash flow i'm out of here so i like that how many of you like him as the favorite thank you thank you you know i think in business um it's not like many other things because there's no gray zone either you make money or you lose money pick one and i know which side i want to be on that's that's the way i look at it that's the way i treat you kevin how important is money to a business because these most how many business owners here okay and how many of you work for a business okay so so talk talk about money being important and talking about as it though it's important the way i look at it is the reason that people pursue entrepreneurship is not about the greed of money it's about the pursuit of personal freedom everybody in this room wants to be successful and in entrepreneurship the way you define success is you make money and then eventually there comes a time in your life when you wake up and you say i'm rich i never saw it coming yeah and i could do whatever i want and most of the time what people do is work even harder because they like what they do that's what entrepreneurship's about it's setting yourself free to spend your time your day in the things that you want to do and the great part about it is nobody can tell you what that is it's only you so so the cash flow is that just another winning indicator for you because i hear you talk a lot about cash flow and i know it's really important to me so um why and why is it important for the audience to measure let me be clear about cash flow it's the only thing i care about okay because there is no bit there is no business without cash flow you might be able to last for a couple of years borrowing money getting more investors but if you don't have cash flow you're going to zero it's that simple and i think you have to face that reality as an entrepreneur cash flow is the blood of business if you don't have any blood you're dead so you might as well look at it that way respect it for what it is realize that's the only way and people say oh that's not true what about this what about that and i say whatever you're talking about is irrelevant if you don't have cash flow yeah so so you're then how does bitcoin relate to that conversation so bitcoin i mean look i was not a bitcoin guy until very recently i bought some in 2017 but the regulator was not and i'm in many companies that are regulated you know i've got an etf business i have a lot of fintech businesses and the regulator was very much against even talking about bitcoin on tv as soon as the regulators opened up in canada and switzerland australia england they even have etfs in canada and they're about to get them in switzerland now too three three five there's gonna be there's two more just got filed today i have a rule about investing i never let a single stock become more than five percent of my portfolio i never let a sector like energy or technology become more than 20 percent this includes real estate i once had real estate up to 31 of my portfolio because i love real estate obviously it's going through some changes on the commercial side but not residential but my point was when i disclosed that i'd gone to three percent bitcoin i'd never anticipated this would happen the first thing i started to get were hundreds of phone calls from people you know investors of mine companies that my ceo saying these coins you own were they mined in china i don't know were they mined in a way that wasted electricity i don't know and all of a sudden i started saying to myself i better get to know because people care about that on bitcoin and so now my new thing is i'm starting to invest or buy minors myself and i'm going to just take that virgin coin and that's the only coin i'm going to own is it sustainable is it mined in a country that doesn't have sanctions on it or abuses human beings like china does this is the new thing coming grant on on bitcoin you you sound much more loving than than you i'm kumbaya baby i'm getting this humanity i'm totally kumbaya because because i've learned the customers that it's not a marketing scam anymore if you're not sustainable if you don't adhere to what customers want as a consumer like one of my companies that's called blue land it's trying to get rid of 50 million plastic bottles where cleaning fluids put in and they crystallize the cleaning fluid and you use a reusable glass bottle and they ship it to you and there's a crystal so you get your detergent whatever it is crystallized that thing started it was a shark tank deal last year zero sales it's doing 80 million a year now wow how important are real assets going forward well they're real important i mean you know i think you got to start thinking about things like real estate there's a reason miami real estate is up 40 in the last 18 months or something because it's a hard asset did you mention real estate [Laughter] i own plenty don't worry but i've i've trimmed back a bit on on office commercial i'm waiting to see how that works out getting more into the residential side you know that's a good revenue you know i don't have to tell you this like you're the guy are you talking about apartments yeah yeah this guy owns every apartment in the miami like he's the landlord but basically no listen you've you have to have had a fantastic mark to market run on your real estate it's got to be amazing just ridiculous yeah and then what what happens now with everybody coming down here in the residential the home price is going up 40 it's just gonna push into runners i'm one of those guys i've been living in a condo my wife is shopping for a home she comes back with sticker prices that i want to throw up on my shoes like the stuff is insane yeah it's crazy but that's the that's the market and and do you think that continues yeah i do i'll tell you why we're we're going to print 1.9 trillion dollars we're going to put it in a helicopter and we're going to just shower it down on the people now you can you can decide if that's good or bad but that's happening as we speak they just signed it into law in the last 48 hours so that's inflationary it will be there's no question let's say somebody was in bitcoin at 500 bucks and they're sitting at 57 000 today yeah when does a guy get off that train here's the decision you got to make and i this is advice that's served me well and my mother taught me this because let me tell you equivalent story a few years ago my son who was an electrical engineer was interning at tesla and i was i was about to go on to halftime report on cnbc and tesla was downgraded that day before all the splits it was trading at 236 dollars and trevor said to me dad why don't you own some tesla i worked there as an intern and i said i want to short that stock it's such a joke it's a car company trading at a ridiculous price you said no you're the joke you don't understand what tesla does i work there it's not a car company it's a data company every time a car drives a mile it goes back to the server and it tells the resolution of that road gets better and better and better because every mile a tesla drives it goes into the database of mapping for autonomous cars and i thought i didn't know that he said no kidding like you you have a ton of money why don't you buy some of this stock because i don't have any money so just before i went on the air i took my phone out and i bought a black of the stock in my personal account not our etfs i just bought it then i forgot about it one day i opened up the thing and i was up like a thousand percent but it was way more than five percent of that portfolio so i started selling it and selling it it kept going up and i kept selling it and selling it so you're selling enough to get back down to five percent i'm yeah i mean it only recently corrected so i bought it back up to five percent but my cost base is zero it doesn't matter what happens to tesla now i made a ton of money on it that's the trick with bitcoin you keep it at whatever you decide i like five percent right now i'm at three if it goes past that i sell it down i and my mother taught me this game she said this way you never cry the blues you always have cash flow [Music] you

Channel: Grant Cardone

Views: 125,922

Keywords: grantcardone, grant cardone, 10x, money, finance, business, sales, motivation, yt:cc=on, WeAre10X, 10XNation, 10XStrong, 10XLife, 10XEverything, bitcoin, cashflow, Real Estate, invest, shark tank, sharktank, Kevin O'Leary, Daymond John, Sharks, Whales, crypto, cash flow, ethereum, shiba inu token, dogecoin

Id: Ikq0a26Nr7I

Length: 8min 56sec (536 seconds)

Published: Thu Dec 09 2021