Wolf of Wall Street Interviews Patrick Bet-David - Uncensored

I was a huge spender big spender and a lot of friends at the bigger firms I always liked nice things I always was not scared to work for nice things I was out of my [ __ ] mind so my mom said rich people are greedy my dad said poor people are lazy and I'm in the middle did you always have this sort of entrepreneurial Street where he's like to the matías era whatever it takes guy I study the industry I read every single thing I could on the industry everything go right out of the gate take off like a rocket no no no not at all no not at all because Ron I did I got sued on October 29 this was mental and emotional torture and I think a little bit of bullying is good for you guys that make it to the top somebody bullied them at some point no one gets bullied more today in the world in the president excuse the ultimate counter puncher right I thought some of the things that were really just big mistakes would you rather have a private company spy on you or the government spy I think the China the bigger problem is lack of respect for intellectual property if there is a one piece of advice you could give to Donald Trump what do you think that would make it even more effective China's quiet that's all I'm saying hey guys JP here the wolf is in the house in the Wolves den I am really excited cuz I have an awesome awesome guest they said when I respect tremendously for a number of reasons short-story emigrated from Iran and the Revolution fled and I'm playing the [ __ ] and then serves in the military the hundred and first aid will out all due respect I'm Patrick Beth David then came out built a successful big-time entrepreneur and became famous from the was the 92nd entrepreneur had to be silicon via unbelievable so let's did I have so much I want to ask you right first of all about growing up in Iran I mean it's like one of these are black holes I always say yeah like from my movie some I'm a household name a bird but Iran in North Korea pretty much right but I think they actually know me in Iran not North Korea so first what was it like do you remember and you probably did you spoke in Iran work a year ago or something like I was supposed to speak in Iran and what happened was it right when Trump got elected the whole dynamic changed and the economy crashed and they just it was disclosed probably not a bad idea I know that you stayed here but yeah I mean I remember all I remember living there I was born October 1878 so revolution started in 78 and the Shah was an exile end of January 1979 so I lived there 10 years you know I remember being bombed on 167 times in a single day one the stores that is pretty wild were we're leaving Tehran Tehran the capital wasn't it like an amazing place not like before are you kidding completing my seventies you have Burma yeah Huber and Iran were the top three countries in the world for tourism right right Iran I mean Sinatra is too good there the why don't they unbeliev a view to lower it off yes the ambassador of Iran to us dated Elizabeth Taylor that's that should tell you something right there I go what what it was like so sure I was born to live there ten years war happened was pretty wild and six weeks after Khomeini died we escaped we went to Germany lived there for a couple years at a refugee camp right an airline again less charming West Germany angeles-based that all area absolutely what so it's a while you're telling me that so I was right next to military base and I would always sneak in and one time we went a little bit too much you were blowing stuff up but it was like you shouldn't be here but we had a great time seeing these guys blowing stuff up maybe that's one of the reasons why I got inspired to go into the military later on what what so you were there when Khomeini was in powerful I was yes oh so you were what how old were you in the showers to post I was just I was born said no okay there and no memories of shots you don't know the minute okay so what was it like when your life do you remember like was anything like yeah did you feel oppressed there or you just young your Christian rights you know oh yeah all right is it a problem for you being a Christian in you know in a very like sort of what sect is that of Muslim different sects or yes there are there's Muslim there's Baha'i there's a lot of different ones so by the way Baha'i they're not for Baja as well bhai is almost like how do I put it imagine like an LDS or Jehovah to Christianity right right or how they look Christianity to Judaism like how Jews look at Christianity but yeah you know I remember clearly you couldn't tell people you were Christian people to ask me what religion are you said to ask my dad I don't know that's what we were told you know you tell people you don't know what religion you are so you said what you're like a mixed wait you said what's the whole give me the whole family tree because it's a crazy so mother's side they're 100% communists they believed in communism their Bible was Karl Marx that's they swore by Karl Marx was that so you know it was this whole idea about the fact that rich people are greedy all they care about is money you know they put people to work and you know they sit at the table cash two checks big belly and everybody else is doing the work so they hated rich people passionately so basically you're one of those people that when they say you developed the beliefs your pairs you go the exact opposite yeah the exact opposites right I'm the exact but you might my dad on the opposite side he said poor people are lazy so my mom said rich people are greedy my dad said poor people are lazy and I'm in the middle by the way all the debates they had no debate you've ever seen on television comes closer to place my mom and dad had I mean it was flying plates and things breaking it was entertaining at its best you know what they say that can you know and calm I know a lot so I have a great / I did a Russian girl back you know many years ago famous Russia's the first Miss Soviet Union you know her boyfriend's before me Cirrus Pallavi it was the Shahs grandson I sweater guy yeah really yeah she was engaged to him here was this is 1919 mm so the late 99,000 we're at the end of three years hated each other so we made three as God knows out baby yeah but but you know the whole thing with Russia was like they'd say economy is right we'll keep pretending to work if you keep pretending to pay me worthless room yeah this is like the whole like lack of work no motivations Fred it's like not really if you can't achieve anything under communist right so so your so your mother was basically the idea that you know everyone should be equal workers of the world unite right and your dad was like [ __ ] it that's I don't like lazy people I want our hundred percent I mean you said it best just like that a hundred percent clash of ideas there and do they stay married absolutely we got divorced twice they got divorce after my sister was two years old and they got remarried then I was born and then they got divorced 20 years later I don't get that so like I've been married a few times I could you marry the same woman again after she tortures you or vice versa right I mean wow it's like a relationship in the Middle Eastern culture is to guilt aspect of it it's guilt you know you know I I can't believe you did this to her I can't believe you're leaving her stranded so the guilt gets in and you see know what maybe i'ma try this one more time and so today the second time achamma absolutely not Oh what broker plates let me put it to you this way when they got a divorce when they got a divorce it was 89 91 my debts or the divorce paperwork's while we were in Germany at the refugee camp my dad was in u.s. he served my mom the divorce paperwork while we're there and my mom got the divorce paperwork my parents weren't in the same room for 20 years they weren't it would not be in the same room for 20 or so I'm getting married and both the damar expecting to come to my wedding us you got it what makes it to you coming to the wedding they said no we're coming to your wedding I said I'm not doing this I say here's how we're gonna do it I need you to come to my apartment complex this is years ago so I need you to come to my place you two need to sit together talk to one another and then you'll come to the wedding then you get the invitation right and I said we're not doing this I said then that's no problem you don't need to come to the wedding so then they call back they said we'll do it they came to my house it was the most awkward hour and a half of them sitting there but I said as long as you guys are good then they came to the wedding so 20 years Wow all right so so you had this like sort of yin-yang right and then when did you come to the United States November 28 1990 okay and so how old were you then you were 12 12 years old right and where'd you where'd you settle Granada Hills Granada Hills California okay so an hour and a half from here and what so how was your English English toffee flawless now so how when you by the time you guys did you speak English well from being in West Germany or you still struggle with it I took EFL which is English as my fifth language because you got we got Armenian Assyrian Farsi German English so your first is Farsi right versus first is probably Armenian Assyrian because that's when my parents spoke right and then as far as because it's the country I lived in then it's Germany then it's English yeah I see so so how proficient that was your English that when you mean it was not at all so it's tough in the eye I mean you're some weddings day right remember Gilligan's Island yeah I went to school this it so what kind of shows you watch Gilligan's Island governament it wishes a pilot is a tough language right yeah it's not like cuz it's a lot of silent letters or listen it's not Syrian when you hear a Syrian speak you literally think people are fighting with each other come careful spyler move out all the stuff is that you know it's not the most attractive sometimes you wonder how the Syrians talk dirty to their girls you know hey so are you married now I am married now how long you my for next week will be 10 years me to 10 years I have a same woman tell almost 11 years I met your wife awesome and um kids three kids three kids seven five and a three-year-old two boys and a youngest is a girl alright so let's take this in a war now right it's okay so you you come here you're 12 years old right mm-hmm no money you know family right yeah no one's got money right yeah just getting storing Granada Hills you have to learn the language right so what did you do we did you always have this sort of entrepreneurial streak where you like to the matter use your or whatever it takes guy and so you know how did you transform from that to who you are you know what's crazy is you know when I was 11 years old in Germany I'm at this refugee camp and this this one family comes in Czechoslovakian family last name is chaff the the son's name is Yan the daughter's name is Katerina Katarina was drop-dead gorgeous she was 10 I was 11 I knew since then I'm 11 and I'm looking at this Chrome like I like this scroll so I find out yon likes the Super Nintendo okay so I said okay I'm not a big fan of Super Nintendo but I'm a fan of your sister so we got to figure something out so that summer I went to the local swimming pool in Germany in airline again and you know Germany they drink a lot of beer I said look you know there's a lot of beer bottles here if I collect these beer bottles for you and I bring it to you what are you gonna give me he says I'll give you five Fenig so the owner and I broke at the brokered the deal at 11 years old I calculated how many bottles I needed which was 5,000 I brought the bottles to him he gave me 250 marks I went to Cal valve I bought the Super Nintendo I brought it back to the refugee camp John played Super Nintendo I played with his sister so from the amazing life so much right never changes I would tell you know in school I was at one point a GPA kid I worked I was always tall so I lied on my age and I wasn't working and telling him I was 16 17 my first job was at Haagen Dazs is a 14 year old kid so always trying to find a way to make money right and when you have your first real like so I don't you know working I you know I guess up to the age I was always an entrepreneur myself right but and it really excelled the jump like thank hot I can't that drove me crazy I worked for an hourly wage but when did you have your first like entrepreneurial experience where you realize that you know hey I could be in business for myself doing something stupid like a lemonade stand do you have anything when it was the first anchor experience so I went to school with two backpacks one of them was books the other one was hats I would buy from a 99-cent store and these hats I bought sports teams were teams that were terrible so like the Clippers at the time San Jose Sharks the Mighty Ducks these are no one's gonna was gonna follow these guys but I would buy the starter hats for 99 cents and I would sell them for 7 bucks and finally my principle cat me and they said why do you come to school with two backpacks but your GPA doesn't reflect the kid that would come to school with two backpacks so what year is this is 1994 the Clippers sucked by the Clippers suck back then they had Danny Manning they could make the playoffs they needed me to play for their teams and have no clutch play basketball so weights all right so that's that by the way it doesn't surprise me right that you um you know the buying hats for a buck 99 cents I I did that on the beach with Isis right here this class so what you were how old at that time 1994 15 16 years old so like you know for me I tell you this I had an experience when I was 16 years old I went down to the beach I think you might know the story right and I started selling Isis blanket - blanket and the first day like I made a hundred bucks in cash and back then and he was middle-aged she's a bucket of cool I mean it changed my life in terms of you know what everything I thought about money hard work and you know it really was the really the beginning night stuff before that but that was the foundation for who I was because I had that you know that feeling like when you like just you know you do something and it works and you get a pile anyway man like you know so is that how you felt like when used to know did you have a bar you make money doing that was the most you ever made with the hats you know listen $100 there was a lot of money yes you have $100 like are you kidding me oh man under bucks today dude so what was doing I'm sorry what you said it was what 95 okay so yeah that's that's like like 250 today probably or you know but also you're - I can't cuz then you were kid and you're like wait a minute I can go buy baseball cards I can go buy basketball cards the best part for me was it at the beach money was [ __ ] singles so it was like it was a 500 bucks hundred-dollar bills this is what Beach brother owns Beach in New York oka got it so I was a vendor there and I put myself through school like that was reason the money was just the experience of like you know and I hide three kids Torf me that she sold puka shells all I mean I don't [ __ ] thing on but let's talk about her so she s thought worth the hats right you have this experience you're alright now you something to make money you have a girlfriend at this point yeah I I was no I don't have a girlfriend at that point at 96 I had a girlfriend but not at 95 so you're making money though and you feel I uh make your money okay and at this point now so you know I mean I could only imagine like you know you show up speaking a different language right was it was like my people with the kids nice to you or did they resent you do they you know I mean like you know I I would say it's more making fun of you is what it was you know the whole your your folk you know fob fresh-off-the-boat you know you you don't know how to pronounce the language a lot of this so it was a crew you're a big guy right so I mean I think people be scared yeah but like was it sort of like was it fun like they were nice about it were the [ __ ] you know no absolutely all the [ __ ] yet all of them yeah you know for me I'll get in different women I think a little bit of bullying is good for you I think to get bully a little bit is at least for me when I study the guys that make it to the top somebody bullied them at some point and they have a memory of that person or a chip or something whether it's an older brother older sibling a friend a coach a strong father a cousin somebody was a little bit bullied it could be with words it could be a lot of different things so it's interesting you take is you know it's funny like I mean like I hate bullies I think as adults we all hate bullies and pie when you're you know Airborne Ranger you probably [ __ ] take the [ __ ] out of any bullies read about it you know so I guess I guess you're saying like with it to up to a point right like this I get it crosses over to when it gets really destructive to someone but I think what you say is a little bit of like you know you know a sense of like you know having to sort of deal with that the world is not a perfect place well you're gonna be [ __ ] and sort of develop a little muscle and you know bit of arm or is not the end of the world yes so you got to realize no one gets bullied more today in the world in the president like okay so you said there is nobody that gets bullied more so just thing so here's a rule that we have in our family when I sit at night and I talk to my boys my year five year old of my seven year old I ask him what do we do as a family lead respect improve love okay great I said what do we pray for if you pray what do you pray for courage wisdom tolerance understanding great I said do we bully no do we get bullied no let me tell you the story of story what happened here a month and a half ago my wife calls me she says hey babe Patrick just got kicked out of soccer practice I said for what says he punched a kinder face so let me punch a kick in the face he punched a kinder face I said come on I'm Tim I'm telling you baby you're on speaker talk to him so I said Tico did you really punch a kid in the face I did daddy I did punch him in the face why did you punch him in the face because he punched me first in the stomach so I just did what you told me to do I don't want to get holy I'm all for that so I called the school I called it a practice facility and I said listen to self-defense what happened here and they said well you know your son kicked the gear punched the kinder face ass we kicked them out I said you guys watch a videotape he says no ice I need you to watch a videotape because you just kicked my kid out of practice if he didn't do it I want to get some war down and said he'd call me back they said we apologize your son got punched first then they react a go so that part of it to me is you gotta be strong here because if you're not people will bully you especially in the business world when you're coming up you're gonna be bullied no doubt about it I guess I guess for me I you know I was fortunate I wasn't really bullied as a kid but I know some kids that wore any it's like you're right you can't be a [ __ ] you gotta be able to you know stand up for yourself but kids can be [ __ ] cruel sometimes you know so I think it's more recent adults but yeah much worse especially girls yes I had a daughter she was like she was a pretty girl when she got wet had him one year really tough yeah well like all the with your don't know we call the girls not liking her you know they're vicious right so and she and actually and an interesting love had changed up for the better so the valid point you made I think she realized that like it was a shift for her that there was a lot more to her than the way she looked she sort of focusing on her studies now she just graduated from NYU grads come on [ __ ] you know summa [ __ ] laude yeah yeah so I think your points well today it's the only thing is like it crosses a line then it's like it's you know I I don't think it's good but a little bit I of you know you can't go through life and slide through the raindrops yeah give me an idea when I was in the military okay if you can't handle sarcasm military's not for you everything was about sorry everybody was just poking all the drill sergeant right hey you got a girl back at home I do guess what she's doing right now what's she doing running just banging Hosea we never do that he's on top of him right now she's not even screaming your name yeah so this this was mental and emotional torture and so you saw that and you watch your peers you're like oh my god she can't handle that he cracked he broke he and a big part of life is a try out to see if you can stay strong during these times to get to the next I firmly believe that because you go into business when you go into business I mean nobody liked you you're like hey what are you doing in New York who is this guy coming up you know we don't like somebody coming up this quick so someone's gonna try to bully you and me by the way you know when I always I was approached by the meta mob a bunch of times you know and I had private security forces and stuff back then but I think the one thing I had going for me is that because I was under investigation [ __ ] scared to getting bombed because then they would like to get it but your attention to them but they were on Wall Street back in the day they were pretty active trying to muscle the way into firms and you know and so on and so they were coming to you oh yeah thank more than once yes I'm trying to muscle you're not there to come in and yeah because listen I was if you think about it what I was doing was the perfect money laundering for the mob because III could essentially make anyone money in a stop trade yeah and had them take give me back cash you could actually legitimize cash true stop and that happens a lot on Wall Street so you know I don't know if it happens as much now because of it's just more difficult with computers and sort of back in the day [ __ ] you mean the 60s and since before I was even there stories were like like there's so much theft of stock certificates and she was just like the [ __ ] Wild West you wouldn't even believe it right now this is not just penny stock this is not everything the whole market before so you know back in the 60s believe it or not there was no electronic transfers of securities if you bought and sold stocks as people [ __ ] run across the street with fizzes a little stiff it gets and you know just just a might say that if you actually looked to see where those tips they weren't really there like a lot of [ __ ] was being stolen and there's stuff that was back then they will change in the seventies everything when it was I think a day cool was one day where everything went electronic and a lot of [ __ ] was uncovered but anyway so yeah we know I did you have pressure at some point I had a private security guy you know sort of that I had hired that kind of intervene but eventually I was on their investigation say they was scared to get neck you don't get involved me guy was it for you in the streets at that time like when you go to a restaurant how was the you know when you were coming up how did the streets treat you like when other brokers saw you from Morgan Merrill other place as well and that was treated well by them because in the sense that I was like an enigma and that like you know boiler room right sure that was not act like that that was guy worked for me and it wasn't really accurate in the sense that my guys would go to a place and get sneered it was really like that so much I think they went to the city that much by the way but but it was really for me it was more like I was a huge spender big spender and a lot of friends at the big of firms so there wasn't like a lack of respect as much of a lack of understanding you spent on them at the big no no no knows what that was it oh now I was going out into the city yeah right no way to have big tables and hookers and drugs and then sadly like you hate the movie was like almost an under estimate of what happened right so the word spread all over Wall Street I was well-known and I was well like no one resented it it was like sort of it was no real clash of world so to speak it was more like an enigma that was [ __ ] mine I was like people did it my drug addiction was I mean you can't you ever been you don't think you've been given a drug problem no no I so you know for years there's like just [ __ ] wild thing you know I'm saying saw was that known though oh yeah so they know you hearted hard dude I would go to restaurants as a famous restaurant was a friend of myself walk Packer right he Owens towel and it very suggest right here the restaurant called can Estelle's back and they was just the [ __ ] place to be right in New York in New York now 19th and Park ok it was a great place great looking crowd he was an awesome dude and I would go to carousels and like beef or ludes deep and just like balancing off the [ __ ] walls and my bodyguard no you know Chuck Zito if the hell head of the Hells Angels he was my bodyguards he'd follow me around and so no [ __ ] with me but I was like I was out of my [ __ ] mind you know and then it all made sense back then I got soberly to [ __ ] my Hey look back holy [ __ ] how long was that about the whole 10 years ten years it's heavy massive drug use for about eight solid years of just massive quaalude use and about three years a heavy cocaine use right and that's sort of like you know it just say like you know cocaine this doesn't really suit well me it turns me to an animal I do terrible things and it makes me into a different I don't want to get so sexual here but just say it brings out my perversions like most men makes us into [ __ ] beasts of you know whatever we all right the question I was gonna ask you was a phone I'm cursin of what you think about this you know when the first time the debate was between Nixon and Kennedy Nixon froze Kennedy didn't and he became you know everybody's like oh my god this guy's more present but before that we in debate that way was radio right so TV changed the game he can communicate better which is why Bill Clinton became president or else George Bush Senior yes director of CIA with the kind of a resume you got are you kidding me awesome there's no way in the world the governor of Arkansas would have beaten him if it was just stacked up resumes who goes against who right so do you think the current way of social media marketing access to what we have the way we see videos on YouTube Facebook Twitter do you think whoever delivers the message better wins do you think the talent plays a very big role to than to become a new president I think Obama proved that the power of social media mobilizing voters and he did a really great job of that while Romney didn't write it was a big big deal right I think Obama did a really good job yes is yes I mean it's a reality you have to be savvy Trump is [ __ ] I mean this guy is you know I thought he was a little I thought some of the things you were really just big mistakes and he turned out to be right like when he went so hard against the media he's guys the ultimate counter puncher right and you know when his tweets me to call the grandma who says something like mr. president he got some [ __ ] better shakin ago like a grandma said one bad thing is like that [ __ ] grandmother should go rot in hell she's a loser to the [ __ ] loser ya know lose a grandma right you know it's like no one gets away with it with the guy right but on some level I I don't know I mean I you know you can't argue with success my wife was approached very early on she was like I like you know she's a Liberty my wife's a libertarian right and she was just very Pro chunker's who's more like the me was more auntie Hitler was she was she before you approached wrong oh yeah so you came later on you supported later on I never was I never was pro-hillary it was never a shot but I was I was listen here's the thing so one when election started you have 16 candidates on the Republican side who were you except when he would implode I did not think you did you think had a chance day one I thought I thought Jeb Bush would make it was it because the money on her for the movie I would buy out I thought that the famine was pretty corrupt and I thought they would sort of you know push it through right but when I was a certain point in toddler came pretty obvious right and then when the so he was the interests the tape came out right with the only grant the poster and and then he just went [ __ ] order at them I was like oh my god this guy but it you know it's a DIN a different world and you know what here's what Trump is incredibly great at he's incredibly good at crystallizing simple thoughts for people to understand Roommate America great again he uses words he repeats them again and again I personally think that if he improved his communication like this much he'd be even more effective but maybe I'm wrong I don't really know this guy's being attacked like no other president has ever been attacked so I wonder what I would do if I was being attacked as much as him like I wonder if I would almost like say if he if the grand MA from frickin OMA [ __ ] you grandma you know don't you dare say I mean because this guy's under assault if Trump like if chunk rescued ten babies out of the oh it's a yeah it he slaughter the bastards oh he's gonna see he did it for evil purpose it's pretty [ __ ] up you know and all I care about is this I'm very concerned about things like the budget deficit like this so I drive real concerns here not for me honestly things have a way of saying they kick the can down the road I know I don't think it's gonna impact our lives but I think it's gonna impact our kids lives I think the things that are happening right now for Millennials and and that people are coming after I mean I don't know what the [ __ ] they're gonna do with this massive deficit that keeps growing and they're really concern you it does concern one part of it the debt we owe to China or is it more just China told us a total twenty two trillion debt because I don't see I think I'm a pretty smart guy mathematically I don't really see a way out of it without some realignment of currency and global trade meaning if somehow the something happened with the US dollar but that would be cool to have a cataclysmic effect so I don't really see how it ends the problem is is that you know it's almost like too big to fail so though they keep lists they keep printing more money right and the Fed expands the balance sheet right and EJ sort of kicked the can down the road and the I guess the idea is that if the economy grows so rapidly then the tie cutting taxes economy grows rapidly so that even though it's lower tax rates the overall intake is much less the theory and eventually you pay down the deficit so how much are you following right now with the 5g thing that's taking place with Huawei with China with all that are you following any us today yeah so what do you think about that what do you think about the so let me ask the question in different way so you got the tariffs that's taking place right where there is China obviously Mexico tariff was more about the immigration in the wall right Canada tariff was accidental because he was trying to get it to China he wasn't really dealing with Canada but this tariffs is the issue really tariffs to you is it really 5g is it really what is the thing that you're most concerned about biggest thing okay so I think he's a hundred percent right that the trade deals that were cut for the US over the last 20 30 years was just [ __ ] asinine I mean honestly both sides all the way it like it was like it was kind of guilt like to give away the store like that right that being said I think with China the bigger problem is the theft of IP a lack of respect for intellectual property and theft of IP and especially you know high-tech stuff and I think that's a really major issue so it's not just about trade imbalances so to speak that you know they you know and I've done business in China and I've spoken in China and and by the way you know one thing you could say about the Chinese people the [ __ ] peaceful when did they attacked anybody never they don't attack people and so so look at they're not a military even though they're building up the military when is China had committed a warming they've been attacked they never really attacked people so they're they're kind of a peaceful they commit the economic war in some respect like I've been around Africa where they're very aggressive in mind some and they don't always treat the countries let's say they don't always in they invest in the country it's more about grabbing out than putting back at least that's the narrative that I hear from countries you know and I you know I don't have the proof of it seems like they sort of pulling out resources not really building infrastructure so they built infrastructure that's only robust enough to last as long as the last piece of metal comes out there and collapses on itself right so is that long-term infrastructure but the big thing I see with China is that they are stealing intellectual property and I think that's the especially in a heart too high-tech here I think that's the big danger and without that some check being put into place and then it's a huge issue I think the Trump is right and I think he's the first president to stand I don't just you know I don't think this spirals out of control much I really I maybe I'm wrong I don't think it's gonna end up in a full-blown long term trade war I think there'll be a reset I think they'll come to terms in within the next six months I really do think so I think so I think what what do you think would be the cornerstone of that taking place like what's gonna cause that well I think it won't he had a classic statement by the way it was like he said to the to the Democrats like almost like could you at least [ __ ] lie for me and pretend to be on my side so I can negotiate more effectively like a lot of what Trump does is posturing and negotiating and threatening and basic negotiations right you have to kind of see through some of his tactics right and I I don't believe I think he's smart enough to know you know but I know minutiae and I met him before in person he's not surrounded by idiots he's surrounded by smart people everyone knows that you know that tariffs over the long term really are not a good thing okay but that being said you know as a short-term punitive measure as in the goshi ating tack that I think it's important I think he's doing the right thing because you can't I don't think was sustainable with China what they were doing was is there essentially exporting like crazy putting up barriers they have tire they have barriers to import they're right and if you want to do business there you have to essentially have it's gotta be an operated by Chinese company and that means your technology comes openness from technology the hole made in 25a made in China nine 2025 plan that's a heck problem so what do you think about the whole speed of 5g the fact that EU u.s. South Korea Australia is not gonna have a ready till 2025 and China ascender gonna have it ready by 2020 I think that number one the 5g rights based on the phones have to be rate Apple won't even have a throne ready I think until 2020 right so like right now on my phone I have this thing it's called 5g is an [ __ ] scam 5ge you know what it's called yeah evolutions nothing it's nothing is 4G one day I'm like what the [ __ ] do you it must come from right here so from what I heard right there roll a couple of cities this year I think the mass adoption is next year right that's supposedly with my China no new s the u.s. is next year I u.s. is saying they're not gonna be ready 5g till 2025 really because I read an article is that Trevor an article had said that they were testing it I thought in 19 cities and yet in that small cities they may run around either challenges the challenge you're having is with the trees mmm because it's not going through trees so China the way they came out with the 5g biggest concern to have would fight G right now it's us if we land 5g contract because we got 4G that increased GDP by a hundred billion dollars they're projecting 5g technology of us gets at first as three million jobs and half a trillion dollars of GDP goes up if we get 5g and so a big part of this when you're looking at is saying you know Trump is a pretty brilliant negotiator why is he banning Huawei is he banning Huawei because they potentially could come into the US economy and compete and take some of the market share away from Apple you got three poster chance for each country you got Apple as US Samsung as South Korea Huawei is China so I think the problem with what Wally said francois that's the right way yeah well we hallway okay so the problem with that I think originally was that that the there was a suspicion that they were embedding code in they're applying they're following of computers that would allow China to basically spy tap in so there's a big issues which started with not allowing it to be involved in government organization that's how it starts right and then it's spread from there right so I think that that's the big concern is that there is things going on with their technology their embeddings number I wouldn't be shocked me I think the Chinese are surveillance critic it's a culture if you go to you know you go to if you been to China recently no [ __ ] they have [ __ ] they're like they have technology all over this [ __ ] cameras and [ __ ] like facial recognition stuff like I saw this thing it's like almost like the future were like they can track you like in real time they read this thing when a guy commits a crime it was like a mock thing and the police caught the guy like within 15 minutes goes like they tracked the guy fieri so it's [ __ ] like Minority Report like in that movie right it's crazy so let me ask you this but do you think us cuz you know your iPhone has 900 million active phones right added an 900 million active phones 300 million roughly is out of China don't you think China can assess what wait a minute you're spying on us through Apple don't you think they can potentially say well what maybe us is China you know spying on us why don't you so worried about us you know spying on you is a good question so I think that the perception and by the way us you know who [ __ ] knows I'm not a tech guy I'm not a coder I [ __ ] about I have coders here right yeah I always [ __ ] when I walk by and I say oh you left out a [ __ ] coal in there but now I see it on this screen it's like the [ __ ] matrix right you know like what are you doing you left out an apostrophe yeah it's a bucket thing never working on these guys are brilliant young guys right in the code and stuff and it's something that I never want to learn right it's like I came too late it's born too early for that [ __ ] right but I think that who knows what backdoors and trap doors the thing is the difference I believe is that is much more transparency in the US and maybe I'm [ __ ] naive okay maybe Froy oh the NSA has got a trapdoor built here every [ __ ] phone and listen you know this you know about the whole thing with the sucks net virus they put around the world with Israel they did to like get people's electrical you know I would always say like you know what my problem with the whole Russian meddling thing was I was like a [ __ ] medal and everyone I think this [ __ ] so Russia's meddling uh what elections we go back to Iran Mogadishu right install people in all over the world I don't think that's a terrible thing like Louis has a foreign policy and you know they're actually eggs trying to exert their will so this will be a Russian like we're trying to interfere no [ __ ] [ __ ] they're trying to interfere with our election they've always try and I think we always try to do it around the world too so I don't think it's like the end of the world I think what happened was frankly it's the old [ __ ] the best defense is a good offense cuz Hillary did the dirty dossier she says [ __ ] let's deflect it away from me because I had this done by you know fusion GPS with Fricke Christopher steel so let's just say Trump colluded with Russia because this takes the burden off me but now it's boomeranging back so I don't really be scary THAAD right there's a very secure minica so then you said then would you rather have a private company spy on you or the government spy on you if you had a choice a private company because really profit baby [ __ ] that everybody looked at it that which is intuitive I answered it intuitively but that's your right because you know I guess like their own selfish interests like a person so much in its relation they wanna Buxbaum that's it tell me [ __ ] put the right things in front of me I get nervous about we sit me laughs like will my wife and I will talk about something and next day it's [ __ ] like on my like advertising like oh my god I I got nervous I turned off my Alexa I know it's probably stupid but I turned the [ __ ] a [ __ ] I got nervous like yeah I was like what the [ __ ] it's just woman listen and you know what like and here's the thing right there is gonna be a point and I think it's coming soon we're like artificial intelligence really is gonna your lats moment of singularity take all right I think Raymond Kurzweil was coined that term maybe he didn't but this idea that computers will become more powerful than people and then who knows the [ __ ] gonna happen then right but you think about it yeah every and we're so I rely on it I'm sure you do too right my phone right we're all over right man and it's a scary thing because you you are I mean think about before so back in like it's not that long ago when like we were in a not non digital world like I grew up in a non digital world you know it used to be a great thing you'd wait you probably remember this one it was like you were younger and you wait for a movie to come on TV there's a big deal like on you know be in the theaters and if you missed it that you wait two years and you see it like a Sunday night is a and now it's an instant dis yeah it's like a different front world right you know and and here's the another thing so like there's always unintended consequences for a lot of stuff like Anand for example it's social mean you brought it up it's a good point so what do you think that sucks we don't know you know on some level it's great because on one point it gives every person a voice but it also gives every [ __ ] a voice right there's a lot of [ __ ] out there but here's the thing I think the problem is more the algorithms that companies like Facebook use where they show you more and more of what you like so you end up in a [ __ ] echo chamber and I really wish that I wish our I I you know I sometimes I'm starting to really not like my newsfeed because it's the same [ __ ] I don't want to see people always with me I want to lose every day I to I read the New York Times I'll watch I don't want to see an X it's [ __ ] nonsense right but I'll watch one of the regular mainstream news channels and I'll watch Fox News because I want to see both so I don't want to hear what everyone is saying I don't want to be an echo chamber what happens on social media is though if you start clicking on certain things over you likes that they show you more of that and before you know it it's a almost bombs disagree you don't like that I don't like that I want you know they're trying to change our other way I think it's the promise to put you an echo Jimmy you start to think everyone agrees with you and they don't there's a lot of pizza there's a lot of really smart people who are liberal out there really normal smart people I don't agree with them I'd love to debate with them about it but people are entitled to have their views and have healthy debate and what happens with social media is that you end up in an echo chamber and that's dangerous where you only sing this [ __ ] and I've seen it happen myself my wife's newsfeed and she had it most attached because she ended up in this ultra conservative buy and not buy by choice by accident that's a big problem yeah it's gonna be funny to see what takes place here moving forward what do you think about so many things in terms of the next election how what do you how do you think social media plays into the upcoming election well I mean I think Ron Paul changed the game I think it's all about Ron Paul Ron Paul changing him in oh four oh four he raised six million dollars on myspace in 24 hours was a Guinness Book of World Record Ron Paul 69 year-old man raises six million dollars on myspace in 24 hours Obama sees this saying if this guy can raise six million dollars in 24 I'm all raised two billion dollars to be a president become a two-term president look what happened right so I think it's gonna play a very big role and it's funny how Facebook is facing so much backlash now where they're being forced to be more transparent and people are upset to say that hey facebook is now going to show what Trump's campaign is gonna be doing all this stuff and they're kind of being open about it because they're forced to do that and Trump's kind of holding them accountable a lot of people are meeting with Facebook to see are you guys gonna be open or not but I don't think it's gonna be much different look at look at this you know a couple guys that are coming up on the Democrat side right they're coming up to become candidates they're just doing social media better than Andrew yang is coming out and over this guy's tell my universal basic income saying let's give everybody a thousand dollars a month one and a half trillion your mom is gonna improve the economy let's just braid money and serve it or not right you think about that I think it's [ __ ] the most stupid thing on the [ __ ] art I mean I mean you don't listen you matter what life is very and some things are very simple if you give people something for nothing they don't [ __ ] value it okay it's the same thing with you know I sell information products right if you under price something I've actually tried it on I want to be a nice guy I'm gonna just give this away very cheap people won't use it because they don't invest their money they don't know whatever they're not and they're not invested in it right versus charging a higher price and people say oh [ __ ] up but money like I better do this and I think by you know giving people monies is idiotic okay you know I I always like always my parents I grew up in a very liberal house all right obviously had very different views to my parents growing up but they're growing up oh my god yeah growing up from as far back I love ASM so it caused it I'll tell you someone back when I was 12 my brother he's a [ __ ] economy right and he went to this camp that was like a communist [ __ ] camp right now you're eyelines my older brothers I want to go to the camp do it you really know what it was a battles like a socialist [ __ ] work camp right so I go there right and I and I and they say okay first thing you gotta do is you gotta share you got to put your money in I'm like why because we all pull our money like they're gonna say that yeah like [ __ ] that [ __ ] I'm like I don't wanna do that they [ __ ] in I gotten punished they put me in a [ __ ] like a lockdown situation like because I wouldn't share my [ __ ] money and I was acting Oh screaming why the [ __ ] should I share my money with other people like you know it's like and was it not that I think I even worked for cuz I was already doing magic shows but I was like so I SOPA they threw me out I actually got I gotta leave the camp early I got thrown out and like and so I always just fall back as I can remember I always like nice things I always was not scared to work for nice things and I think when my parents were amazing people love my parents to death but I noticed some things about them like number one brilliant hardworking educated and [ __ ] broke so like what wait a second okay wait so a it says here you can go to school get degrees they both the CPAs my mom's not even a lawyers mom and dad was super you both CPA my mom was a CPA back in the fifties like in Mad Men when women weren't in the workplace right she was there and you're hearing the food oh yeah and she was rocking and rolling brilliant woman right my dad was a CPA and I remember when I was like 11 years old I wanted a dirt bike and I said hey I'm on a dirt bike might like 120 bucks so they said we can't afford it I'm like what if [ __ ] what the [ __ ] what do you mean they're like you guys are [ __ ] accountants what do you mean you can't afford like we get my mom says let me show you our budget and she actually showed me the fee I was like [ __ ] I was appalled I was like that's all you [ __ ] me I was like I felt like how old did you say you were 12 you let 11 or 12 so like that right and they couldn't and it couldn't have this dirt bike and the same thing I was an electric guitar I want to play the guitars get a Whitney Lane and I was like [ __ ] and it just sort of you locked in this idea with me that there's something else now let's do the Entrepreneurship right you're if you're a really well-known well-respected entrepreneur we could talk all day to to us right but I won't talk about entrepreneur should tell me about how you you had a big break right well you wait so you'd order the army your [ __ ] madman right you that I respect you anyone that serves the military's I just [ __ ] kudos for you right that's great right I really not really I mean that from the bottom I want right but then you come out right and tell me your career and it really slows it off yeah so I got out I yeah meta I want to be body builder that's what it was I was gonna go be the Middle Eastern or no that was gonna go when mr. Olympia going to Hollywood Mary Kennedy be governor that was a plan right that's that's the rod I was gonna take met a girl at Venice Beach California she was a broker at Morgan Stanley Dean Witter okay and we'd go out she would also pick me up in a different car and finally I said how do you make your money she says I'm the advisor to Laker players that's what I do I'm a series 766 the whole nine I said how can I do it she said well you need to have a four-year degree Morgan doesn't hire without a degree and I was looking for JT Marlin but JT Marlin wasn't out there so I said how do I start work a boiler room replica look for these guys see if I can find something so I took my resume undercover the resume I put a joke and on the bottom of the joke I put a few if you're laughing right now this is exactly how clients are gonna feel when they invest with me if you want someone like this part you didn't give me a call bother my resume had the following haagen-dazs Bob's Big Boy Burger King military Bally's that's what no four-year degree no two-year degree come on military helps out yeah yeah I was 21 years old I fax a 200 different places 30 people call me back 15 said this is hilarious but you don't qualify 15 gave me an interview and eventually I got three offers I started off with Morgan Stanley Dean Witter out of Glendale so so 9/11 happens at day before 9/11 my first day with Morgan Stanley Dean Witter this is a Monday 9:10 start off with them get my series 766 31:26 life and health I go that route and starts Allen next thing you know I go to Transamerica I'm with them for seven and a half years then October of oh nine we start on an insurance company sixty-six agents out of Northridge California sixty-six agents notice car insurance come fall e October overnight I am thirty at the time okay so I look at the marketplace I said okay no one's using social media and financial services they're afraid of it they're worried about it because you can use it you can't post anything everything we'd be teas got to get approved broker-dealers on how to prove in these emails all these things they're talking abut life is still flexible but securities is not I said let's go through life so we eliminate a lot of a securities gig and restrict Li focus on life and annuities so we start off out of one office Northridge California and the next thing you know we grew from 66 Asians to today ten thousand five hundred agents 49 states De La Hoya is one of our investors Gabrielle Brenner's another one Atalaya fund out in New York is another one it's a two billion dollar fund we raise it our conventions coming up in the next six weeks keynote speakers building we got a stop yeah I gotta go back this is you have to tell okay you owe it to my to my people here how the [ __ ] did you do I want to know hey let's break down your strategy right if you could let's break it down so like I always think that like while it might seem like kind of [ __ ] that this guy do it like it's an in the end is always you did some things that are duplicatable strategies 100 percent let's just slow it down so tell me what was easy you started in 2009 2009 in October of 2008 a cure sought to $600,000 six you borrow a to-20 euro much you took the money you earned it from financial services you roll the [ __ ] now is that like your last dollar you had more did you like put it on the line don't you have some more in reserve I probably had a little bit more but I put I said I'm going all-in you put the bulk of your mom up the bulk of my money in annual how old at the time twenty-nine thirty okay and married at this point I got married three months prior to that no kids yet no kids got okay good great time right a lot of people watching or in that they do you can it's almost as you get a bit old you can always you know do things in life when you're that age no kids you [ __ ] can't afford to take risk right yeah so we let me tell what happened though that you asked the question strategy that's gonna be transferred to other people this is one of them I studied the industry I literally sat down and I read every single thing I could on the industry everything limb raw every reports demographic we are able to recruit who they're not what clients are getting not getting any kind of service so I looked at the whole Do Not Call list is it doing good things for the marketplaces they're doing bad things for the marketplace when it came out in November of oh three I'm looking at everything the average agent at the time was a 57 year old white male today the average agent is a 59 year old white mouse I'm looking at the market oh yeah insurance I'm looking at the market they don't know how to tap into the Latino community there is no they don't know how to tap into women selling insurance it's mainly men selling insurance they don't know how to tap into Millennials they're not fully understanding social media they're afraid of social media shall wrote a book I wrote a book about specifically what our strategy was says was 5 points so step one in other words you didn't just leap you you actually did some research you identified and niche in the marketplace and you had a strategy your model someone and then or you know typically like you know if there's a some model that you use then you improved on it or was it basically it was your model the culmination of all your research no I mean my model was a model of five different people that I looked at what I was watching well he took what you like from one from another one not absolutely I would say what but what book had a big impact on my own my business was blowing strategy absolutely okay I mean blue I don't know if your revolution started you know highly recommend rate it a hundred percent recommend specially now you do in your podcast and what you highly highly recommend the blue ocean strategy formulas if they make a note four and a half million copies sold WC Chen you will not be able to put it down right so I read the book and I'm like okay this strategy makes a lot of sense so we need to eliminate we need to decrease increase create perfect this is what it's making this the direction we're gonna go and I looked at an insurance at the top everybody was Caucasian we need some people that can connect with Millennials and minorities and that's the direction we're going so we started going by the way today we're 54 percent Latino and 51 percent women our number-one earner is a woman and she started like we started with how many agents 6666 had you start with 66 people I was already known in the marketplace in the Sanford and you know San Fernando Valley area so you opened up your dog imagine New York is San Fernando ok in San Fernando they knew what I was doing so you opened up yet 60 desks with agents there are they working for you although they were just office 60 ages 60 and look at it as a co-op banker you got 60 Realtors working with you got it yeah God okay that's 66 agents all right and you took you took those from people knew you in the industry so yeah basically Heather guys I had trained for seven and a half years she had a balance you know how to follow it now okay so you start with 66 agent and does it just like right out of the gate take off like a rocket no no no no not at all because right I did I got sued on October 29th of 2009 from a four hundred dollar company Hague on October 24 what for potentially taking clients we didn't take any clients seven thousand clients stayed interfere we must interfere yes August which is nine ten months later we settled I've never been sued in my life that was the only time I got sued so I could say that keep god yeah so August we settled we finalized we started moving and from there some you know the strategy was I'm gonna start with California then I'm gonna go floor down then I'm gonna go Texas then I'm gonna go Illinois then I'm gonna grow and expand right so we went one office two three four five six and now we're over 100 offices nationwide well what was your you say your biggest pivot like you had to make you know typically when you're doing that you're you know you make your starting and things going oh you made some little move and it just was there one move that you made not a per se was that kind of oblivious that question yeah so I was I was a so I'm sitting there and I'm looking at the comp plan and a company's calm structure attract certain kind of people your company whatever way you pay your people house in person it attracts exactly so I'm looking at it saying what kind of people does this comp plan attract I change my complemented times maybe a hundred temp could be even more I kept changing we're changing this this month we're test extract test test test finally I came out with this a comp plan in September I don't know what September of 14 or 15 15 I want to say September and I called it the great equalizer bonus program and it was five tiers and I'm gonna try to for one month then two months and three months the next thing you know a guy that had only been with us for a year made 220 then six-forty than a million alright and he made 3.3 million for in two and a half three years and it was like wait a minute what Ella so then everybody followed this comp so the way you setup the comp gets to behavior that you want there are a lot of companies do not agree with you I receive by the way when I you know I do a lot of consulting write for sales puzzles say some of the biggest mistakes are made in the compensation because if you have a confidence flawed it disincentivizes people to work or just to have a few clients so stop right so you have to almost make sure that someone just can't open a few big clients and rest on their laurels right and then unlike wise also you want to have people that are tied to the company you built Lori with residual income right so so this is kind of dance you doing with both so you run you hit on this comp plan right people start making a lot of money they just almost not like pouring in it's just showing up your daughter for work basically yeah and then at the same time in 2013 I was a private gun like listen I'm not gonna talk about my belief you know communists of how was raised Iran all this I'm I'm private guy I live my life I'm gonna work I'm gonna do my thing libertarian leave me alone let me make my money just don't bother me I kind of started noticing that we're living in a time where everybody's naked you can't hide today it takes two minutes for somebody know you're Republican that's all you got to go on your Twitter account Facebook account okay this was Jordan Belfort's believes and got it next but right so I said rather than trying to live a private life I'm gonna start creating content so I was making content strictly privately for our agency but I started doing it publicly right started a YouTube channel called that Patrick made David two years later change it to value taemin and today we got 1.3 1.4 million subscribers over a billion minutes watch tell me this this there's one thing I read yeah this one major eight right the ninety was the NATO was on face tell me that this is the night yes so you know I put the video on YouTube it's always high a life of an entrepreneur ninety seconds alright that was a [ __ ] box as soon as I heard I'm like bingo that's like just a catchy title right yeah yeah so tell me what was it yeah so we put the video up and what's so crazy the day we shot the video is the day my father-in-law died and I went inside my wife is crying and I'm like I gotta cancel this shoot I don't even know how to handle my one I've never seen my wife lose you know her father so she's a mass she's I said I'm not shooting she says no babe you go do your thing guys at the camera guys eight people are outside six o'clock in the morning you know we're trying to set this whole thing up she says no go do it under you guys I'm planning this that's okay so we want a shot I'm just like I'm a mess the entire day my mind is under family so I'm shooting and we came back these guys did a phenomenal job we put the video up on YouTube I said let's see how it's gonna do we called it the best motivational video 2015 I love it I go to sleep I wake up it's only two thousand views what a flop so then we go uploaded October 31st at 3:13 p.m. Pacific Standard Time I uploaded on Facebook tidal life of an entrepreneur 90 seconds and then we go out there what he called a Halloween trick-or-treat oh my kids right two hours later he's got 300,000 views I go to sleep wake up 5 million views a week later 10 million and and all of us on 31 million views so it's it just went crazy that's a it's a great feeling isn't it you know it's like just when you don't expect I know it's a defining moment right then you took that right and then you ended up lever to get to a book right I leveraged the two books all in a the book was life of an entrepreneur 90 pages 90 pages great and I'm sure the book was a huge bestseller we did well it did the book that well yeah and in terms of your business did it impact your business percent was it a separate thing I your is your personal brand integrated into your business No so here's what I don't do you will never hear me do a call to action with my following to go into what I'm doing personally never you will never hear me matter of fact let me give you what took place a month ago I told the vault the value team of followers I'm gonna put a three-day conference once we cross a million subs so we cross a million steps and put a three-day conference in Dallas we had two months to promote I said we didn't do it in Dallas to my agency in the insurance company I said you are not allowed to come so I put a conference the following week I rented out the Cowboys Stadium I've put a conference the following week so it wouldn't you know kind of confuse each other so value Tim and audience was one week then the PHP audience was a following week we had people shelf on 43 different countries to the vitamin conference and it was great three-day comprar had Peter Guber there I had Phil Heath there I'm it was a great conference Sean our conference PHP is five weeks from now have President Bush there I have Kobe Bryant come in Jordan that's gonna be the one in five weeks that's tomorrow so yeah it's it's I've separated the two because I want the integrity of both that's work very well and and it both audiences have a lot of respect that there's no commingling going on two questions were over I'm gonna go from a minute leave the way over but you're interesting to do I love talking to you so I'd love you to come back again um a couple questions number one for a young entrepreneurs Yeah right what's the what's the best thing I'm not like what industry reaches just what's the advice that you would give like you know to a young guy 2025 years old right wants to go out get rich get and build the great life but what advice just overall advice would you give them it's very easy for me it's shadowing go shadow somebody go shadow somebody is good all right well not just proximity proximity is hey Jordan can I take you out to lunch and spend time with you that could be proximity I'm talking about sticking by hey and can I work for Jordan be your right-hand guy be a the movie American Gangster you see Frank Lucas sees his boss shadows them for 10 years then he becomes you see this in business you see this in sports you see this Steve Kerr is shadow and Phil Jackson then he shadows Popovich now he's the best coach in the NBA outside of Popovich there's an element of shadowing so you gotta find somebody locally where you say look I want to go work for this guy and I'm gonna spend three years with this guy learn from him so the idea is that let's say you know you're what you're a born entrepreneur right you know it's in your blood yeah but as part of that like there's a certain period of sacrifice to really if you find the right so they could like it you could really you know kind of really tap into right and really learn from a growing there's nothing wrong with spending a certain amount of time they're really those grooming years right a lot of people skip over that they don't they don't want to sit there and kind of beasts absurd someone else they even feel something if you're like you know there's an entrepreneurial mindset too don't work for someone else but they're not mutually exclusive those it's okay to do it if there's an end game in mind right you're you know you're not looking your lifelong service yeah but to tap into whatever your needs but then eventually when the time is right and you know what you need to know you have the connections of respect you go out in your own yeah absolutely I'm all about you if you shadow the right person you shadow the right person and then for me get to a point where you can have a power position with this person get to point we can talking to the person that's absolutely ambitious driven I'm not talking to the guy that's I get it wants to do a role-playing type of position I'm talking somebody says I want to go be somebody and I'm gonna go make tens if not hundreds chase the big dollars but I want to be able to do it with somebody you find like a lot of times somebody goes and works for a guy who's doing very well he's known in the community say the who ever of different cities every city has somebody that everybody wants to work for you go work for that guy then it comes to a point where like I'm gonna go do my own thing it may not make sense for you to go to your own thing there's a lot of people right now being billionaires being entrepreneurs not entrepreneurs in certain industries by the like financial certain to infrastructure it's easier absolutely no doubt about absolutely even Ballmer look what bombers worth you know thirty forty billion dollars he never started anything he worked with gate so positioning is critical knowing where your strengths are you know this whole idea about I can be that guy you can't be everybody you gotta know very early you cannot be everybody there are certain people you and I cannot be like there are certain personality training no doubt no doubt about it so the sooner you want identify your own strengths in accepting it yes so style like I like let's just say if I relate to your style I'm like you know what I'm like your style then I got to work for a guy like you say different style of selling you go look at a guy style sell and that's very proper you know very good you got to go to that guy somebody that fits your style that's killing it then go shadow that person and a few years later you can make some decisions on where you want to go I think that you know one of the things is and to point out with that is that when you when you're modeling someone you don't have to necessarily take every aspect of them you can extract very true best right because I made that mistake because you're right I've done that and I did that and actually had some guys amazing traits but he had some bad ones too and I didn't realize I was young and naive and I took sort of the whole organism you can actually have one two three people and it said you did five you said you're five entities and you sort of pulled the best from each one starred your company pivoted a couple of times boom took off so I think the key is is that when you do what you said exciting is a great thing to do but you don't have to always take everything from someone you could take only the best traits and the ones that fit you in sort of leaves because no one's perfect everyone's got that flaws and stuff oh yeah I mean listen one of the best advices I got many many years ago was you know sons and fathers or daughters and mothers go through three phases first day idolize then they demonize then they humanize so idolize demonize humanized oh my gosh my dad's my hero dad you're an [ __ ] you know nothing you don't even understand what I'm going through oh my gosh my dad's not perfect is he human being just like me so yeah anybody you work with you're gonna go through it and the goal is to eventually get to the humanized face because no one is gonna be perfect and last question right what do you think about 2020 what do you think is gonna win and you know how do you view and what like these are concern you if the country takes a rapid lurch to the left only no what do you think Scranton if you look at the pendulum just go I'm I'm a trend guy I'm a data predictive analytics guy this is what I'm bring you in Billy Beane to our conference because I want to know that I love baseball cuz its stats right I'm a stats guy so president today's Republican okay Trump prior to him Obama Democrat prior to him Bush Republican prior to Clinton democrat prior to him Bush Republican prior to him like you know you can go Reagan and then Carter and then Nixon and then so you can go back and look at Ford and Nick's lion John it's two terms versus one exact right so if you're asking a two-term question I don't think the left has got a solid candidate I don't think Joe Biden is going to be able to face off with Trump I don't see that I think Bernie Stan a better debate than him debate wise remember not full of philosophy I think Biden may be a better Democratic president than Sanders would but today personality matters energy matters being able to move and rally you know every time Biden was an Iowa didn't show up to his hand but but Sanders know how to rally people so Sanders was even better at rallying than Hillary well know that one listen you know she was a flawed delegate he had it though the other super that was stolen basically let me ask you a question if there's one last question right I got that you're a smart guy right if there was a one piece of advice you could give to Donald Trump that this is one thing you could change what do you think that would make him even more effective one thing that he would change what style one what is anything that you would change or now here's here's what I would tell you I I okay so for me it is very hard to give advice on personality that's worked for somebody for 74 flippin years there's nothing you can tell this guy he's gonna sit there and say do you know how many broads I've been with you know how many billions I've touched do you know how many people have had dinner with do you know what kind of building you have no clue who the hell you are to give me advice with you I really think he's not a guy that takes advice from anybody I believe that I don't think he's an advice guy I think he processes with people like I think home picks was a good process I think Sarah Huckabee was a good person I think Kelly onaconda was a good person to listen to him but so he takes it in and uses own internal mechanism I will give one thing there's one thing I will say I will give one thing that in this negotiation that he's doing I think he's starting to realize the power of 5g because what it's gonna do to self-driving cars and what it's gonna do to speed up technology and we're gonna come up with technology better in the fact that Huawei out of 188,000 employs 75,000 of their employees are in R&D research and development we are this this 5g things gonna be bigger than people realize it so you know I'm glad you brought this up great I have not focused enough on I'm aware of it right but I'm actually gonna research because it's a very rethink of the denial I said of your time yeah your brain the way your wire like the way you explain Bitcoin like them your brain the way you're what if you go down the rabbit hole of where I'm going you are good you it's gonna be like 50 layers and it's deeper thing by the way today the CEOs doors and she still under she's no she was Mengele right she's at arrested II she's still there I she was they really know she's back but Google dropped the contract there's no right so the most important number there is 206 million phones were sold last year while way they went from 0 to 206 million in ten years they've never sold smartphone they started in 1987 first time they sold a smartphone was 2009 206 million they sold last year added to Turner six million 105 is in US 105 is in China 101 is outside Google said we're not letting use the operating system so they're going to yeah yeah so now they're designing their own opera so they have to be very as he's negotiating right now with China and using all of this stuff he can probably bully Mexico that he's doing a little bit and Mexico needs America tremendously China has got 1.5 billion people and if they all a sudden come out and I know Tim Cook was with Trump a few days ago thought they all of a sudden come out and say listen we're banning something you're doing as well if they come and play that same game and Huawei is projected according to Business Insider it's dropping 30 to 40 percent of revenues this year projected they did 108 billion last year they could drop 30 to 40 billion of revenues this year Huawei if was president ren who is friends with the prime minister of China because ren used to be part of the chinese government military if he goes there and says listen look what just happened here and they retaliate against apple little bit of this bullying tactic trump is using could backfire on the economy and then if the economy like if hillary wanted to play minute manipulative game today here's what i would be doing if hillary wanted to play like the whole dasya she wrote this is what I'd be doing if Hillary wanted to play her manipulative game she would go to China try to figure out a way to convince them to ban any China companies from doing business with Apple hurting US economy by 20% because Trump can no longer use look what the economy is doing today versus when I first got started if Trump cannot use the economy cart he doesn't get reelected yeah you know what I think I I think my guess is you know back in like the days of rush when you said this thing called mad mutually assured destruction I have a suspicion that cooler heads are gonna prevail here because China doesn't want an economic wall because they they're trying to elevate so many people up out of poverty I've been there right you know you know back in the 80s it was the story was Japan's gonna take over the world Japan Japan Japan the Rising Sun the movie right and there's the [ __ ] hat but it was exam there's little populations there not recent there enough yeah right but you know but but my there's something that tells me that there's a little bit of puffery like you know you heard about the empty cities being built and you know like this you know not everything is always what meets the eye and I think that honestly I think both sides need each other hundred percent yes I don't there's no big that my guesses at the end of the day maybe I'm wrong I think cooler heads will prevail I hope so I'll say they'll say this final thoughts for you to be thinking about this one I had a friend very quiet guy I was telling the story to fit while we're driving up here it was five for 150 pounds I love it right it was so loose they would sell one night it's 3 o'clock in the morning we're in the parking lot and a guy pulls up the car and he turns off that we're living in a bad community I thought he pulls up the car turns off the lights points a gun at us he says hey Holmes who you what you do in Mato and then he looks at me says oh [ __ ] what's up ad I said the guy knew who I was but he points a gun at my friend Sal and my friends uten my friend said you don't pull a gun at me I don't care who you are he says get out of the car says no I say we're good he says no get out of the car so I'm not gonna punch you in the car he gets out of the car he says let me know when you're ready just let me know when you're ready he tells him warning let me know when you're ready that we're gonna fight he says I'm ready he beats the living [ __ ] out of this guy he's bouncing his head off the ground scraping his face oh here's a moral of story saw was a quiet guy very quiet at the hwachun don't talk to him China's quiet that's all I'm saying so you don't want to get them to the point where China but they're peaceful but you don't cry if you go too much there's no one that's gonna take too much so all I'm suggesting is maybe if I so rolling is all I'm saying dude you're a [ __ ] legend I appreciate that I'm back to the Batman all right it's a pleasure good to be here thank you

Channel: Valuetainment

Views: 310,327

Rating: 4.8855238 out of 5

Keywords: Entrepreneur, Entrepreneurs, Entrepreneurship, Entrepreneur Motivation, Entrepreneur Advice, Startup Entrepreneurs, valuetainment, patrick bet david, Jordan Belfort, Wall Street, Wolf of Wall Street, bitcoin, sales, Patrick Bet-David, Belfort, the wolf of wall street, leonardo dicaprio, wolf of wallstreet, motivation, money, success, life of an entrepreneur, patrick bet david entrepreneur, martin scorsese, scorsese

Id: 5M-TxDqywmo

Length: 69min 44sec (4184 seconds)

Published: Thu Jul 18 2019