Talk about this tweet that you did on Saturday. You wrote, You may lose your wife You may lose your dog, your mother may hate you. None of those things matter. What matters is that you achieve success and become free. Then you can do whatever you lik You're getting a lot of blowback for that. I stand behind that 100% and you know why? If you're an entrepreneur, you know exactly what I'm talkin because you need to sacrifice. You have to work 25 hours a day, eight days a week, because your competitors in Mumb or Shanghai and they want to kick your butt. You have to win when you're young and sacrifice everything so that you achieve freedom for your whole family later in l That's the whole idea. If you think you don't have to w and you don't have to take risk and you have to have commitment, you're not an entrepreneur. Just get a job and work for somebody else. Those words for people that are motivated to sacrifice personally, to achieve success, have freedom in their l If you don't get it, don't worry because you don't fit the entrepreneurial mold. And you know, I've been saying that for 20 yea If you really want to succeed, you got to work your you-know-wh and then some. And then even more than that. And now even more because you're competing interna you can say assets on this show. Okay. Well, that's exactly what If you're not ready to work your you're not an entrepreneur, get If that makes you uncomfortable, I couldn't care less. I've got to ask you and tell me if I'm wrong. Here you are. Are you encouraging people away from the stock market? Because I'm looking at your what's on your wrist. And you said there are more tangible things in the moment that you would be investing in. My watch collection over the last three years has outperformed the S&P by almo And so have you noticed this wat There's only one of these read. Of course, this is a one of a kind app made for Shark Tank season 15 This has already appreciated 1400 percent. I'd rather own watches and stocks right now if you can find them. You said collectibles. Establishment collectibles. Yeah collectible watches. Very r One of the kinds, that kind of t Does that mean art as well? Yes. Art's doing very, very well There's alternative assets. I tell people, wake up and look at this stuff. Besides stocks you can make money on the numbers that she just report What do you think? Retail sales, The most sense of over year, ove That is absolutely stunning. That is, you know, to be talking about a recession and have print over 6% is almost unprecedented. And so something is really interesting We have full employment decade is for decades to have unemployment this low. Remarkable. We're raising rates on the consu Core inflation in food is really And yet somehow because everybody's got a job, you get a print like that. This is a rip roaring economy. And if I were President Biden, I'd take advantage of what's happening here. These are big numbers. These are good numbers. So he's going to speak well, what do you mean, take advantage What do you think he should do? It's very, very rare that you get a situation where you have full employment, you're raising rates and you have retail sales number And this strong is just rarely ever happens. And you want to take credit for that here. If the administration because everybody's feeling pret if retail numbers are up 6%, that's my whole point. Now, how long can this last is what every small business in is asking themselves because they're trying to make decisions every day about how much money they put into inventory because they're supposed to be seeing a slowdown. Everybody's telling there's a slowdown coming. Where is it? Yeah, the debate, that's what we've been do we have the right sort of met to measure the economy coming out of COVID? Are we are we using old analytics to st something that is different? Don, you're right about that. The Fed is taking a lot of criti specifically around housing. The housing data is 18 month old as it goes into the CPI numb When you talk about inflation and you keep fighting inflation with more hikes, it's because you're not really taking into account that housing prices are flatteni in some markets rolling over. And a lot of people are criticiz the old way of measuring inflati saying let's get housing out of and let's look at core inflation such as food and energy prices, which are more current. But housing is a lag indicator. And so maybe what's happening here is the Fed is fighting like Don Quixote, a fight that he doesn't have to fight an But that's not going to play sai We're going to have two more rat hikes, at least 25 basis points, with that data. I guarantee you the terminal rat that's the rate where the Fed stops is north of Wow. That's remarkable. You know, that's going to happen He's just sitting in his office saying oh, my goodness, where did this come from? Yeah.
Every time you kind of see a look on his face, he's lik what's next? Can we talk about crypto for a m Because you were actually a spok for X, which was Sam Bankman-fri Crypto Company. Of course.
Now we have all seen what's happened to it. The larger question, though, about what's happening to crypto do you think that we're entering kind of the Dodd-Frank era of crypto where there's going to be legisl and regulation if there's a silver lining to this catastrophic collapse of which cost so many people so much, it's that it poked the bear in Washin and it's forced regulators to re You've seen the heavy hand of Ge he really hammered crack at the FCC chairman. It basically said no more lending of crypto. It's not a law yet for everybody But he's saying, read the room. I just shut down one exchange and I'm going to do it for everybody else. That keeps t Keep doing this was called crack And then this morning we hear th the regulator in New York has basically shut down the minting of Binance tokens. There are $64 billion of Binance held in two wallets. Well, I wonder who owns those because if one of those people wants to sell, that's Binance down the drain. So it's going to get very intere Just real quick, if we can do this as a lightning because you said that you would do everything you because you were the spokesman for the same language or Fiat. You said you do everything to track down the Have you made any progress? Oh, my goodness. It's the whole narrative on this situation for everybody recovery We've heard about 4.2 b and of the 1.2 billion of the 400 million of cash. Where is it? We need the regulator to actually give us the data. You also tweeted that you would work with him aga Sandbag control. No, no. If that was long before I've been known on Shark Tank for over a decade, that I will give money to catastrophic outcomes for entrepreneurs who have learned their lesson through failure. Not when you're involved in an alleged fraud.
