RYAN LESLIE & HILL HARPER TALK STOCKS, BITCOIN, & WEALTH

my graduates from my school being forbes backdrop backdrop backdrop [Applause] so first and foremost thank you guys for coming i i really appreciate it um if you've watched ryan's leslie's episode on earn your leisure i'm sure you got a ton of game and if you watched hill harper who was on market mondays twice i'm sure you got a ton of game so this is just going to be an extension of that it's titled crypto but we're going to be talking about a lot more than just crypto we're going to be talking about the business world investing uh the musical side of things group economics well as long as with cryptocurrency as well so you know this is going to be one of these eyl conversations where you get a million a million dollars worth of gain from people that have done it at a high level that's doing it at a high level so i encourage everybody to to listen it's very rare that you get an opportunity to hear this kind of information especially from two gentlemen together at the same time so let's get into it let's get into it all right ryan i want to talk with i want to i'm going to ask you the first question so um you had spoke about before as far as mentorship right in college and you had an experience with sandy green phd right so part of i feel like the community that we have built is mentorship it's kind of like an online mentorship and you never know how somebody can change your life and experiences can change your life so can you talk about that for sure first of all this echo is crazy what i will say though is that mentorship is really like having a extended family member somebody who's going to make an investment in you when you are already hard-working when you already know that you have the talent you have the tenacity you have the drive the desire the discipline the dedication and sometimes you just need the direction and so for me mentorship really was that moment when uh you know my parents they're from the salvation army so they have always been storing up treasures in heaven so what that means is that they sacrifice treasures on earth in the service of others to have treasures in heaven that doesn't pay for a harvard education you know what i'm saying and so they were able to actually inspire me to uh apply to harvard very early and i was lucky when i was there to actually have a mentor and i i truly believe that that made the difference between the trajectory that i already was on and where i've been able to get to now so i want to ask you the next follow-up question ryan is our stock question write in long lines with a market monday's apple apple you invested in apple in 2009 and um i believe you have a 16 000 rate of return on that initial investment if anybody um watches the show we always ian always talks about buy and hold buy and hold and a lot of people get caught up in day trading and rotations and he always says you're going to rotate your way into poverty by leaving your positions so can you talk about that the the value and what made you invest in apple early and what made you keep it because a lot of times people might have had 100 200 300 rate of return on their money and they're taking it out you left it in and now you're up 1600 16 000 you're up 16 000 on your initial investment so talk about that yeah for sure to be a great long-term investor it really just comes down to three elements the first and the second you control the third is up to the market and the economy the first is just time when do you start and how long do you hold for me my holding time horizon is always 20 years and the reason why my time horizon is 20 years is because when you look at the history anytime you've held if we talk about the s p 500 or we talk about the total stock market index any time you've held for 20 years you've had a zero percent chance of loss a zero percent chance of loss i know a lot of people who are new to investing i know for sure my parents are from the caribbean they thought being in the stock market is just gambling they see people actually do exactly what we were just talking about that rotation where you just leave too much of that money on the table you see it do one somersault or two somersaults you've never seen your money dance like that and you take it out but 20 years is the time horizon number two is the rate of savings and number three is the rate of return when i make an investment i want to be an owner and ownership is not about a short-term play just think if you actually bought a franchise and you put somebody in that franchise and on day one they were selling let's say 20 hamburgers then in two years they were selling 300 hamburgers why would you sell the franchise if it's actually delivering for you so what i will say is that the reason i held though had to do with mentorship i watched my investment go from 100 000 to 350 000 and i remember a conversation i had with my mentor i said hey look man i took your advice and man a hundred thousand to three fifty i'm gonna cash out get something nice for my mom and he gave me an ultimatum at that time he said ryan listen you can go ahead and cash out give something nice to your mom but we'll shake hands and i'll never teach you anything again or you figure out a different way to give something nice to your mom and hold on to that investment and we'll check in every single year around tax time and we'll see what it grows to and when we checked in this year that hundred thousand i got it on my birthday september 25th 2009. that hundred thousand was just under 16 million and if i hadn't don't let that don't let that go over your head clap it up for that ladies and gentlemen but that's the difference that mentorship makes because for me if it was up to me i look in the mirror i'm thinking man i'm smart i made a great investment it's given me a great return and sometimes the lens of expertise and the lens of experience can actually provide you wings that allow you to fly further than you can fly on your own and so that's why i think first and foremost when i look at a company i want to be in a company that when i look around i use it every day and the people i love they can't live without it so when i'm looking at instagram i want to be an owner in facebook when i'm looking at devices that i'm seeing all around i want to be an owner in that company when i'm seeing the the platform that i'm able to even listen to podcasts on i want to be an owner and you got to give the business time to materialize into the growth that you're looking for because you want your money to work for you so give give the business the time to grow does that sound familiar if anybody watches market mondays this is the same thing that we've been saying for a very long time you got to buy good companies hold them for 20 years tech companies so these things that you keep hearing as he said it was mentorship so you can get mentorship in a variety of different ways so when you receive the information online it's important to take heed to that because that hundred thousand to 350 is a great flip but 100 000 to 16 million is a out of this world flip it's different it's a little different and i say this like honestly when when you think about it man think about the the companies that have done extremely well they've always done well over a 20 to 30 year time horizon and i want you to think if you got into amazon when it first ipo when you got into monster energy when it first ipo'd if you would have sold at a thousand percent i'm talking about 10x your money you would have left tens of thousands of percent on the table and the beautiful piece about money is when you put it to work for you it's one of the greatest employees because it never has a sick day it never goes on vacation it never asks for time off it never gets old it never gets weak it's always there to keep working for you unless you actually go ahead and cash out so when you actually earn the money and you put it to work let it be your greatest employee and don't let it just be one if i told you right now that the way that the stock market works is non-discriminatory the twenty percent that you'll make in a year is the same twenty percent that's afforded to warren buffett or any other hedge fund the difference is how many dollars do you have growing by twenty percent if you got a hundred dollars well then that's twenty dollars if you got a hundred thousand well that's twenty thousand if you got a million well that's two hundred thousand if you got ten million we all can continue to do the math so when you actually earn the money understand it's like a a lifetime robot level employee that will always always always work for you so give it the time to manifest into the wealth that you wanted to create there you have it yes clap it up for that [Applause] hill harper let me ask you this question um the first question is gonna be very simple why bitcoin why bitcoin i know you're you're a bitcoin bull you're extremely bullish on bitcoin you built the platform we're gonna talk about the black wall street but why bitcoin you know bitcoin is ostensibly a store of value and uh a perfect form of of money and money is changing it's changing very rapidly we're moving very quickly out of fiat and hard money currency into digital currency and cryptocurrency the question is where is it headed and how can we be early adopters and get into the to the space ryan is just talking about ownership the beautiful thing about bitcoin is that as ryan just described it is agnostic to race it's agnostic to barriers of entry it's literally just real estate on a blockchain real estate on a ledger and if you purchase a set number of satoshis you own a little bit of that real estate and it's a finite amount what creates value is scarcity that's why waterfront real estate is extremely valuable it's more valuable than the real estate that's inland because there's more inland property than waterfront property scarcity drives value and bitcoin is the most scarce crypto asset out there 21 million be minted there'll be at least three to five million lost or disappear so you're really talking about in in real ways somewhere around 18 million bitcoin um um in in in any type of circulated supply there are 48 million millionaires in the world there's not enough bitcoin to go for each millionaire to even hold one you know we will be talking about satoshi's in the future not even talking about bitcoin but bitcoin isn't the only asset class in this space but it is the one to enter into now that's why my goal is to have each black person in america hold at least a million satoshi's quick show of hands who has at least a million satoshi's in their wallet right now at least a million let me ask you million satoshi satoshi raise your hand raise your hand right then you've got a million satoshi's in your wallet raise your hand if you if you don't know what a satoshi is okay y'all don't watch market monday's shame on you so let's let's let's you don't watch market mondays i see shame on you should be ashamed of yourself all right let's have this conversation then what is what is it can you explain to them what satoshi is sure so so so check this out y'all back in the day gold was valued in terms of bricks like how many bricks you got in terms of weight right and then as bricks got so expensive they had to have a smaller fractal value of the gold so they broke it down into price and gold into ounces the same thing is true for a satoshi there are a hundred million satoshi's in every one bitcoin just like there are a hundred pennies in a dollar there are a hundred million satoshis that make up one bitcoin so what does that mean what it means is that satoshi is a 100 millionth fractal share of one bitcoin so as you build your satoshi's you don't need to just go out and buy a bitcoin i can go into the black wall street wallet right now check the current price of bitcoin it is right now real time uh 48 730 and 75 cent right and and and so if i want to buy right now live i'm gonna buy ten dollars i'm gonna preview my buy i go in i confirm and then now i just bought 0.0020082 bitcoin right i just did that right and so a satoshi is a fractal share of a bitcoin so i just bought satoshi's i bought a fractal share of a bitcoin right here on stage and so i my goal is to have every black person in america hold at least one million satoshi's with four with with basically 40 million of us in this country if we held a million satoshis each we would literally control the bitcoin market worldwide people would have to come through us and it'd be the first time in history that black americans have controlled an asset class [Applause] and when you start controlling asset classes you're able to do what set price and if we're able to set price of a valuable ascending value asset class we have the other thing that's very important leverage leverage is the critical piece and so what i love what ryan's talking about he's talking about ownership i'm talking about ownership and and if you think about ownership we need to strategically own ascending value asset classes like high value blue chip stocks and hold them for long term like ascending valley asset class like bitcoin hold it long term this is not a trading mentality this is not robin hood robin hood is robbing the hood y'all it's trying to get people to trade because how do they make their money they make their money off exchange the more you trade the more money they make they want you jumping in and out of positions that is not the way to build wealth i never want you to sell the bitcoin you buy what are you going to do with it you say hey well i still need liquidity sure you still need liquidity what you're going to do you're going to buy it you're going to hold it and then on the platform you're going to take out a loan against the equity or the upside of that asset you're never going to sell it and you're going to pass that bitcoin on to your children and they'll pass it on to their children's children you can just think of bitcoin like wealthy people used to think of houses right you get these real high value mansions they're not flipping in and out of the house to extract the liquidity they're holding the house and then just taking the equity out and reinvesting that equity into other assets and or liquidity challenges that they may have think about the same way you're going to be able to do that with bitcoin on the black wall street platform um speaking of that yes clap it up for that ladies and gentlemen speaking of that speaking of bitcoin so ryan going back to you you had 16 000 rate of return on apple but i believe you have a 32 000 rate of return on bitcoin right is that correct that's right all right so uh it was obviously an earlier uh investing in bitcoin as well so when did you when did you first invest in bitcoin yeah any anytime i have an interview or anytime i actually run into anyone they always say hey ryan man i heard about your laptop well that laptop was a whole story in and of itself and um i was working on some music and i lost the files so when you work on music it's not enough to just have the finished record you need the files so my laptop went missing i put up a million dollars as a reward for the return of the intellectual property because who wants to pay a million dollars for a laptop you could just go to apple get one for two thousand dollars well the laptop turned up long story short and uh the gentleman who found the laptop actually sued me to actually retrieve that reward one million dollars and he actually won in in new york court and the next day i was on the cover the new york post i sent it to my mom she said at least you look nice i remember that yeah i had a nice suit on right but the headline was rap weasel first of all rap weasel does that look like me rap weasel must pay 1 million and then the next day i went to just go and get a breakfast sandwich and uh it's the same place i go every day and today this guy who is behind the counter want to take a picture with me i said well i come here every day why are you going to take a picture with me he said well because you're on the cover the new york post you the rap weasel okay all right you wanna take a picture okay but the reason why that story is so important is because when you lose a judgment well then the federal government or the state government can just come in and freeze your assets and so upon losing that one million dollar lawsuit they froze 2.3 million dollars in my account and i was in november of 2012. that was the moment at which i started to think man you know do i really want a centralized currency to actually be controlled and i'm talking about they just took double i only lost a million why you take 2.3 right so i said look we got to find a different way and luckily at that time you know i'm an astute student of the game and uh if you if you look back all of this is verified look back in june 2013 i put out a tweet i said from now on pay me in bitcoin 2013. and what happened was i had a shopify store 2013 so i'm early in shopify and bitcoin became the means by which i wanted to be paid and i still do that to this day but to give you a case in point i sold an album five dollars today is worth like 700. i sold a hoodie forty seven dollars today is worth like six thousand i sold a couple of meet and greets total price two thousand today is worth like a hundred and twenty two thousand and that's just the differentiation of being able to get in early and i know some of y'all might be thinking like man i can't turn the time back to 2013 but i'll tell you right now even if you buy some satoshi's today you still early but you don't want to be amongst the folks that say you know what today was either just a footnote in the history of my life or it was a game changer a life changer and when we talk about assets and when we talk about ownership and we talk about being able to buy fractionally and be in an asset class where there is scarcity that's what that opportunity in cryptocurrency provides and so yeah 32 000 return yeah when i got into bitcoin it was trading at about 122 dollars per coin we just looked at the price as 48 000. y'all could do the math how much how much money did you put in there what should we got hey you really and let me say something this is so this is so important what he's saying and i gotta i gotta reinforce this y'all this isn't just about individuals making money okay this is this is about life or death and and this is real talk in 1863 when the emancipation proclamation was signed black people in america held a little less than one percent of american wealth that's after 400 years of free shadow slavery and the greatest wealth transfer in the history of this world happened if you were despicable enough to want to hold property to literally extract value from people who had melanated skin they killed us they murdered us they raped us they separated families to build wealth now fast forward 158 years later to right now august 2021 people say oh hell man let's just talk about making money don't get too heavy no no no we we have to speak truth to this this country is built off the back of our labor and it's built off of building wealth off of us [Music] and we right now still hold only one percent of american wealth we have to collectively work together jump into asset classes and start building leverage that is decentralized exactly we was talking about the idea of operating our own micro economies outside of centralized institutions and in the banking system which has literally stolen trillions of dollars out of the black community through on all sorts of onerous racist and institutionally systemic and racist policies procedures redlining we can go through all that history we don't need to but we know where we're at now what he's talking about what we're talking about right now is literally about life or death it's not just about hey man can i come up sixteen thousand percent can i come up thirty two thousand percent no no how can we work together to actually start to control real wealth because why is real wealth important i believe you cannot have social justice without economic justice so all the stuff we've been talking about we talk about mass incarceration police brutality health care disparities education gaps if you trace it back to the money what are the communities that are hit the hardest economically fragile and poor communities we change the wealth factor in our community we change all that other stuff we get we get it wrong we start trying to work on all these things from the top we got to start at the root which is the money and the economics let's go y'all let's go [Applause] yes yes hill let me let me ask you a question uh because i want to kind of give people a framework a lot of times they look at investing and they're like okay i'm investing something and i can't take it out cryptocurrency the word currency is a little misleading because it's like who's going to want to pay for pizza with bitcoin when it's going to go up in value right so it's like i'm invested in cryptocurrency but i can't spend it like but you bring up a good point about lending right lending against your bitcoin something that i learned about in 2017 when i first got into space and a friend of mine that was educating me on it he was like you know the whole point is not to really liquidate your bitcoin but and you might need sometimes where you need capital and you can actually lend your bitcoin out and you get interest rate on that but you still keep ownership of it that's something that is very interesting to me and i think that that's going to be even more prevalent um as time goes on so i think it's important for people to have at least a baseline education on that can you talk about that as far as lending bitcoin sure so so when we talk about holding an asset hopefully you're using money that you don't need right away right and and and when we talk about crypto specifically remember i'm not saying get out of apple to put all your money into bitcoin this is about having a overall strategic approach all the things you're already doing you should continue to do but then figure out how do i actually start to build a position in a in a different asset class in this crypto space now watch this they're 9 200 different cryptos and new ones are coming along every day 99 of them are like penny stocks or pink sheet stocks they're they're they're they're scams right the vast majority are scams and that's why you have to be very careful when you're talking about a lot of these meme coins and pump and dump coins and things like that because there's really no downside protection because part of your investment strategy has to be risk management meaning you have to look at what's protecting your downside is there a liquidity pool to buy the asset as it goes down and so the beautiful thing about bitcoin is that it provides you the opportunity there's enough holders so there's about two trillion dollars in crypto one trillion of that or half of it is in bitcoin so there's a lot more liquidity in that space and it's also an opportunity to lend it out so on our platform the black wall street we have not allowed this feature yet because it's part of a timeline you know you know when you when you actually and ryan can talk about this when you actually develop a tech company you don't release everything at once if you look at coinbase when it first launched you look at coinbase now it looks completely different and so we're going to be releasing features as we go and make it better and better and better but you can go to you know block five there's a number of others you can do your research and and and loan out your bitcoin or your holding if you're in a situation where you need liquidity you don't need to sell it to get that liquidity the other piece that i think is a very critical piece that we want to add on our platform is the peer-to-peer piece because if we can start recirculating the black digital dollar peer-to-peer we don't have to be writing interest minimums to check cashing spots payday lenders the payday lending industry is a 300 billion dollar industry that's extracting that money out of our community specifically we actually can change that on a digital platform where we create the liquidity that's needed within our own ecosystem so vanessa gets that 10 or 15 percent return not you know steve i'll just say steve you understand so the money stays in the community why is this important it's important because a dollar leads the black community within six to seven hours where a dollar stays in the asian community eighteen to twenty days in the white community in america twenty to thirty days you hear what i'm saying six to seven hours it leaves our community multiple days with other communities the way we build wealth is the recirculation of our dollar we you know these brothers look at the av team putting on this event you hire a black av team what does that create all those brothers and sisters right there have jobs right here my man right here right we recirculate the dollars we create jobs and opportunity and that's why holding an asset taking the liquidity out using that to either reinvest in your own business or to hire folks to actually put do things in commerce is critical and you can do that with bitcoin very important i'm glad you said that shout out to the whole production team this is a high level production and uh we we're in atlanta we're in atlanta georgia so it's no surprise that everybody you see in the production team is black it's a black owned production atv and this is a high level and uh [Applause] we only use the best people um and these are the best people so a lot of times we think we have to compromise if we go black but we don't have to compromise um we can still get the best service by supporting ourselves as well ryan i want to talk about technology i want to talk about technology we spoke about that we use on the podcast and i know you're early seed invested in a lot of different fintech companies one um being titan so i'm actually more broad range question because there might be some artists in here so you start off as a musician songwriter extremely talented um but like you said i mean you made 16 million dollars just off of apple stock right off of 100 if you really think about it like even they might say i don't have a hundred but you might have ten thousand you might have five thousand but then you do the bitcoin then you do your phone then you always doing something else right so what got you in the mindset of developing okay i need multiple streams of income i need multi i need to diversify my portfolio and how did you get into investing in tech company how did you get into tech period man i would say any success that i've ever been able to realize in my life can be directly correlated to just having the right conversation conversation is a currency in and of itself and success happens at the speed of communication so we want to be successful in whatever we set our minds to it's a matter of conveying the right message to the right person with the right resources at the right time that's that's very important that's my crew over there okay thank y'all appreciate it all right so when i decided i wanted to start a tech company it wasn't really a decision it was more of just following the curiosity because out of necessity is born innovation why did i invest in bitcoin well it was a necessity my account was frozen 2.3 million so i had to innovate figure out a different way that i could have a currency and have a store of value that was decentralized when i decided i want to get my phone number out to 550 000 twitter followers i needed to actually use technology to scale my ability to respond to everyone i'm going to be real about this and he'll and i see what you all are doing as well in terms of keeping the ownership and equity and the dollar within our community we saw this with rock and roll a lot more people in america know elvis presley than chuck berry and when we look at our ability to innovate in this space i know a lot of artists that look like me that i actually picked up the phone and told them hey i got a technology company it's called super foam and you can have a text relationship with all your community and when i first started they said oh man that's crazy man bro like you're not a star if you can text everybody i started super phone in 2013. five years later i'm looking around i'm seeing all those same people with phone numbers but they're using a white company called community saying why is that well it's because the investors in community they look like the founders in community so community took a concept that i started and they built an alternative competitor and went to our people and said you know what we we just raised 100 million from salesforce so we'll give y'all a platform for free [Music] and that's that's that's a favorite word in our community free you know what i'm saying at the end of the day when you look at the contribution that you make [Music] whether it's through my technology or whether it's through another technology the conversation really is about ownership and so whether you use my super phone platform or you use black wall street or you use coinbase or you use any competitor we're not here to tell you only invest in or use our platform we're just telling you that the future is now and if you want to be able to predict the future you just write the history yourself and ability that we have now in technology allows us to actually have information and access that previously [Music] previously was limited to those who had much higher thresholds in terms of investment minimums so if you wanted a hedge fund strategy you had to have a quarter million or 2 million or 2.5 million and the reason why i invested in titan is because they took that concentrated hedge fund strategy and you can start with five hundred dollars and what's the difference between a concentrated hedge fund strategy and a long-term diversified index fund strategy well it's pretty simple the concentration is what provides the outsize returns the concentration is what provides the alpha the wealthiest people in the world if you look at the headlines most recently there's been much that's been written about the jeff bezos the elon musk the mark zuckerbergs of the world and what you'll realize when you look at their stories their wealth is really tied up in a concentrated vehicle because the stock of their own company is what drives the growth of their wealth year over year so i would say two takeaways from that number one if you have the tolerance it's okay to be concentrated in your investments diversify across many different asset classes real estate cryptocurrency stocks if you want to get a little bit of uh acceleration yeah maybe you do some derivatives some longer term options a shorter term options look at alternative investing get into companies early before they're public invest in the companies that you see your friends and family building people be so quick to go spend their dollars at louis vuitton and won't spend their dollars with the new makeup or hair care or beauty business that their brothers or sisters or aunts or uncles are creating burns what's going on traditional universities are outdated and don't teach you how to become an entrepreneur they just teach you how to become an employee you go to school for four years and you leave with nothing but debt but here at eyl university our curriculum is much different our university teaches you real world skills that you can use to gain financial freedom right away in traditional universities you learn from professors that have never did what they teach and they teach you how to become an employee at our university we use instructors that are currently successful in specific field that they teach and they teach you how to become an entrepreneur for a limited time only you can join eyl university for 25 off of the annual membership learn about stocks credit real estate crypto and more go to eyluniversity.com right now and sign up to become an earner don't wait don't hesitate head over there now [Applause] we have that opportunity to be early shareholders early investors and yet when we look at the number of black owned or black founded companies in the stock market we don't really have a lot of options and so that means we got to invest before we're public but that early equity that early ownership is going to be how we actually change the narrative and change the trajectory of the wealth that we want to build so for me following technology is really because as hill said we built the railroads but we didn't own them we built the hospitality business and worked in it but we didn't own it and now it's the only time in history where without brick mortar lumber or steel we can build value through technology and it can be scalable and we can serve and deliver value to hundreds of thousands millions and maybe even billions of people but we got to actually invest in one another use the products that we create for us by us and embrace technology as a pathway and a means so that when the next transfer of wealth is being written about in history we're not on the sidelines just watching we're participants and owners everything he's saying just sounds so familiar because we talk about when you say the concentration to tech to index anybody that sound familiar to tech to index and uh when we interviewed mark cuban i asked him what his portfolio was and he said it was i know netflix for sure russell 2000 and i believe it was microsoft he had another technology company that's it he just had three positions in his portfolio and like you said that's something that's a major key a lot of times we get distracted we're trying to have 37 stocks in our portfolio a it dilutes your holdings and you're not really going to be able to you know figure out what's going on you're going to be doing research on all these different areas and it's like you think that by having that meaning you're actually helping it but you're actually hurting your portfolio most of the time like you said the hedge funds most hedge funds it's more of a concentrated thing so that's why when we suggest to tech it's it's not to just you know keep it basic but it's actually a more sophisticated way of investing than having 37 companies that you just know nothing about for sure warren buffett said diversification is actually insurance against ignorance so listen i'm not saying that just because you were at invest fest now you an expert investor if you don't know what to buy you still all right just go ahead and buy the whole stock market you could buy the whole stock market for 225 dollars a share the history shows that if you do even if you don't know what you're doing at all and you buy the whole stock market and you hold for 20 years your money's gonna double every seven years anyway but you got to be able to hold you got to have the patience to allow those companies to do what they're supposed to do for you so i totally agree with you on that that concentration is really for those who actually know what's what they're doing and the reason why i think concentration actually is a byproduct of founders is because founders know their business better than anybody else so if i believe in super phone or i believe if i'm mark zuckerberg i believe in facebook well i don't want to be distracted by any other companies i want to be able to build the value within the equity and the shares of my own company and if i see something i like i'm gonna just go out and buy it right i know i bring up that's like i said man it's it's just reassurance that um you know everything that we talk about you're just saying it so we definitely got to get you on market mondays by the way we'll talk about that um so he'll let me ask you this people might not be familiar that crypto a lot of cryptos they have different utilities and different usages a lot of time they just think like all cryptos are the same you just use it so can you just talk about that like this some crypt like i was an early investor in tron which i'm still not really 100 confident in but the thing that really um drove me to tron was when i heard that they were the crypto that was designed for video games and uh my son is a gamer shout out to nas he's in the building yeah yeah so when um when i i understood the culture of video games like it's a whole it's a whole subculture of video games so i'm like i think the cryptocurrency for that then that's brilliant and then there's a bunch of cryptocurrencies for different things so can you talk about that sure sure so so so just like you need you know ryan was just talking about you got to do research and understand the company understand what you're investing in the same thing holds true for different crypto assets right there are different use cases and different value propositions that each one has for instance if you believe in the nft space then you may be attracted to ethereum and you want to sort of go that way you may do some research and find that cardano and ada is something that you're interested in and so you literally have to pull back the onion do your own research there's so much free free free information out there on the black wall street admin and just in general across the ecosystem that allows you to understand the different use cases for different crypto assets the thing to be careful of is when you see people trying to pump one and that's why i believe elon musk and mark cuban have been so irresponsible around dogecoin and we could we can get into deeper of of what that's about and and and and why that is but they're if if people don't understand if someone comes up to me and says hill crypto is a crypto dogecoin is the same thing as bitcoin then you know that they actually haven't done their homework and done their research to understand there's a different there's a there's a fundamental difference in the use case and so so rather than there's so many of them and there's so many that are actually providing real use and value and if you believe in the value or the use that they're providing and you think that there is a longevity to that then lean into that space and lean in i don't mind i'll just give you an example personally i do not mind bitcoin but i mine ethereum okay now see so i have i have a mining set up a mining you know a situation right and i could choose to mine any of the cryptos out there but i do not mind bitcoin and people always talk about bitcoin mining bitcoin money i think that there's better value for me using my mining rigs to mine ethereum now that may change right why why is that well it may change because ethereum's change why why do you prefer to mine ethereum as opposed to bitcoin okay so so you have to look at basically what you're receiving for that time and energy spent it's it's very energy intensive to mine and what happens is you end up spending a lot of money in energy fees and costs it also depends where you do it if you live in a certain place i do not recommend mining okay because certain in certain places energy fees are very high my whole mining setup is not where i live because it would be too expensive to mine where i live so i have my whole mind set up somewhere else where the energy cost is significantly lower and so i'm able to mine a great deal for a much much much lower cost and so you have to actually look at that and then you look at what you're getting for mining right now the way ethereum is set up and the level of fees that are associated with ethereum there's a group there's a there's a healthy return for mining a theory where this the same level of return i believe does not exist given the energy required for bitcoin and and and watch this i can mine some other cryptos where the return today is even much more than ethereum but the problem with that is i still go back to my original thesis i see the value proposition in ethereum right now over a longer period of time and therefore me mining you know shibu inu you know whatever i mean come on don't get me started the point is you don't understand you you you go you gotta actually do your own homework and understand that but i want to pivot real quick go back to something that that ryan said that i thought i don't want folks to miss this when he was just talking about ownership and he mentioned zuckerberg he mentioned elon musk he mentioned bezos and their wealth was built off of these tech platforms and tech companies and we for far too long and he mentioned this talking about music for far too long our culture has been monetized by tech and tech platforms to build wealth for people other than us because we don't own the platforms that's why it's so critical for us to begin to own our own ip own our own platforms when i when i went to launch the black wall street people like hill you can launch with a wallet you should white label a wallet just do that man you know it'll be much cheaper and much better it'll be much more functional but then all of a sudden i'm like the rush card which is a big lie right i can go out into the black community and market something and says hey you know bank black use the rush car but if my charter company is a white bank and you actually peel back the onion you realize it's green dot bank and if you would have gone straight to green dot you'd be paying less fees and so all you're paying are marketing fees layered on top of someone else's technology that is not black ownership that's black marketing it's fundamentally different that's why we have to own our own ip our own charters we have to do this and then we have to support each other in doing it and so one way to think about it and this is a mindset shift in terms of purchasing and you talk about louis vuitton or whatever the way i try to think about that piece is for instance these you know nike shoes or whatever i never buy a luxury item i make the company buy it for me what i mean i'll never buy nikes unless i've made enough dividend off of nike stock to buy the shoe so you can think about the same way use that rule for louis vuitton and nothing wrong with having louis vuitton purse if you own lvmh stock and you allow the stock to buy the purse right so you can always think about everything you do and being in all this goes back to this one simple idea let's be intentional with how we use every hard money dollar fiat dollar and digital dollar and crypto dollar if we actually import intentionality and strategy around our usage whether it's a spend or an investment or who we support and how we support platforms then all of a sudden it supercharges that wealth creation for you as well as as the founders and the tech platforms and folks all around and that recirculation starts to work make sense yes yes ryan um women in wealth initiative uh what's that about why you know i'm i'm very happy to see a lot of the ladies here um but i still yes i'm still not all the way um happy with the percentage that we have i think it's like 60 percent men 40 women that um listen to earning elisia and i would love to have it to be 50 50. um so we're making strides we got a bunch of powerful women that's going to be up here this entire weekend but what's that initiative about and why was it important for you to start that yeah so i have limited time right and uh my mother has always been the matriarch in a meaningful way for my family she's the one that always encouraged us to save she's the one that always encouraged us to be frugal she's the one that encouraged us to also be as resourceful as possible and be of service and my dad was you know he was always hey god will provide you know he spend the money and god will provide you know and my grandfather was the same way he's spending money on god will provide and guess what god actually always did provide so i i you know i i i ascribe to that a little bit as well but what i will say is that uh over the last year i have a a one-on-one uh mentorship program and uh it's it's really to pay it forward in the same way that sandy gave to me because i know being at a conference like this there's so much information that you have to process and you go home and you i know i took some notes but what's the satoshi and i think he was talking about doge and mark cuban and concentration and robin hood is robbing the hood and how do i remember everything you know what i'm saying and so sometimes it takes just having somebody who actually would just lock in with you for a year and break it down for you just week by week week by week week by week you just you show up every week you do the research you do the homework and so i created a program whereby you know just a few a handful of people per week i mean for per year i actually provide this kind of mentorship and service and it's not because people can't find it on their own like hill said there's so much free information but sometimes if you don't even know what you're looking for and you don't even know what you don't know you could just get lost in that matrix so that mentorship program really began to illustrate for me the difference between a male perspective on investing which in many cases is kind of more like gambling and a female perspective on investing which i found to be in many cases more rational more disciplined more reasonable more measured yeah come on give ourselves a round of applause go ahead ladies [Applause] yeah so when i found that there was that kind of differentiation i found that potentially the impact that i could make in terms of what i was teaching in terms of the coaching in terms of the mentorship the investment like hill was talking about you want the greatest return on your investment so i found that when i invested the time with women they also weren't just doing it for themselves they always said look i'm not ryan this ain't just for me it's for my son it's for my mom it's for my aunt my uncle my niece my nephew and what we found on wall street all the time man listen i know some some folks in here if you if you actually watch movies you've seen a wolf of wall street you see how women are objectified in the wall street communities it's all suits and ties and misogyny but actually very recently that has emerged almost say i guess sometimes they call her like the the modern day female warren buffett kathy wood of arc and vest right we talked about it right and what a lot of folks don't know is that uh one of the other non-public greatest female investment managers is actually of color her name is melanie hobson she happens to be married to george lucas people didn't know that george lucas created star wars he found himself a strong black woman right and she's one of the best money managers in the world so that's why we decided that look if you if you really want to uh make a true difference and have a true impact on a family and generational level then it's important to educate mentor inspire and motivate the women the women very important make some noise for that very very important hell um before we go i want you just to talk about black walter but i also want you to tie it on if you can with the what you said as far as this cross-generational wealth transfer um recirculation of dollar and all of that group economy can you tie that in and and how that was a motivational factor in your platform absolutely but we don't have much time so it's earning your leisure's event we got as much time we good okay well since we're talking about strong incredible women i want to recognize naja roberts my co-founder who's right here she is sitting on naja come on just just come on wave turn around away to the people that's nigel roberts she's one of the only two brick-and-mortar over-the-counter cryptocurrency exchanges in the country called crypto blockchain plug in englewood california i went to her on bended knee and said i'm launching the black wall street i need you please join me in this journey naja i need your expertise she's one of the foremost experts in crypto in the world and she joined me her husband said it was okay for me to be on bended knee in front of her was not a problem and he was cool with that and so she is incredible so i wanted to mention her because we talk about everybody talk about crypto and they think it's male driven and and tech is male driven but they're incredible women doing so many incredible things in the tech space and in crypto space like nasa so why is recirculating the dollar so critical if we look back to the original black wall street the inspiration for for the name of the digital platform the black wall street was the original black wall street from 1905 to 1921 o.w gurley founded 35 blocks in tulsa oklahoma the greenwood district and what happened was a dollar recirculated there i believe there were three distinct pillars that built wealth in that ecosystem and these are the pillars that we tried to replicate with our digital platform pillar number one institutional ownership we've talked about that most of this conversation we own the businesses own the intellectual property own the land so ownership is critical pillar number two institutional trust we haven't talked about this much they trusted each other to transact with each other imagine that black folks loaning each other money black folks actually working together black folks spending money with each other institutional trust and then pillar number three of these three wealth building pillars to me and perhaps the most important was the movement of money or capital within the ecosystem where during that time a dollar changed saying 60 to 100 times back then that was a year to three years as i said earlier a dollar leads to black meat within six to seven hours we have 1.2 trillion dollars of spending power in the black community yet it comes in because we work hard everybody we all know people working two three jobs with other side hustles but the problem is the money leaves we don't have the ability to recirculate just think about this i'ma drop this on you a 30 billion dollar industry black female hair care we don't control the industry nor do we control even the supply of it when you talk about how much money goes into the korean community and other communities that own over three to four thousand hair care shops throughout the country payday lender we could go on and on and on the point is the money leaves we have to recirculate those dollars and now digital platforms allow us to do it now why people say hell man i love my cash app why is cash app a problem the reason why we launched the digital wallet first is that if we don't start owning our digital wallets as the money starts moving into a digital currency then the dollar is going to start leaving within six to seven seconds let alone six to seven hours we have to own our own wallets so if you use apple pay apple wallet if you use zell venmo paypal cash app who owns those do they look like anybody in this room that's why we we started our mvp with a wallet and we can digitally recirculate those dollars on platform right i want to i want to bring super phone on to platform and then you could pay for super phone through the black wall street wallet you understand how this starts to work you understand how it starts to recirculate and create jobs and opportunity that's how it works and and and i'll just say this in the in that spirit please y'all take out your phones please go to the app store or your or or google google uh it's android ios and download the black just type in the black wall street download it you can still use your cash app that's okay but use a black platform too that's all i'm saying just add it on don't make cash app or paypal your only wallet you can actually add black owned wallets to it and that to me is the secret sauce no one's saying yo don't do anything you're doing it's bad it's just saying add on a black alternative just like you say you know i i gotta approach my people set up set me up with community but i'm gonna get rid of community now and go to super phone amen that's it that's it there you have it ladies and gentlemen round of applause for ryan leslie and hill harper one time and y'all listen i i i wouldn't i wouldn't i wouldn't be 100 i wouldn't be keeping it a stack if i didn't say that i actually respond to everyone that actually is looking for that mentor that's looking for that coach that's looking to reach that peak performance in the in the prime of their life so in the same way he said take out your phone and download the black wall street app text ryan.com try it out text ryan.com you can leave your number there i respond to everyone i i do the phone calls 30 phone calls a day until i until i get through to touch touch base with everybody but it's a pleasure honor to be up here with these brothers let's give it up one more time love y'all yes give it up earn your leisure y'all my graduates from my school being forbes backdrop backdrop backdrop [Applause]

Channel: Earn Your Leisure

Views: 93,185

Rating: 4.9756198 out of 5

Keywords: earn your leisure, business, finance, entertainment, Bitcoin, Ryan Leslie, Hill Harper, Crypto, Cryptocurrency, Stocks, Apple stock, SuperPhone

Id: GAFBH0HXHlU

Length: 64min 28sec (3868 seconds)

Published: Tue Sep 07 2021