Wine w Wyan: Let’s Get Sloppy

I'm sorry. I'm sorry. Coming.

What did I do with this? I'm too drunk to open up the next bottle. Alright, I can't focus right now, Tyler. I'm gonna outsource this to you. Just pull. Are you wearing an Eric Sloan shirt? I sure am. Whoo. What'd you do? I know. No, you zit. Dr. Clement's the wine expert here. My goodness.

Yes, because I drink so much of it.

Oh, my goodness. We're a mess. No, we're a mess.

There's no weed in this.

Don't give me that crap. We gotta tilt. What is in the sauce?

Butter.

Oh, I'm in. I'm in. What else? Butter. Lemon. Butter. Lemon, lemon, butter. Wow.

You guys look good.

Hey, can you. Can you tell that? Can we. Can we adjust YouTube? I feel like I'm. Less bedroom.

Way less Headroom on YouTube.

We can't see Ron Burgundy if you can't see Ron Burgundy. We have a problem.

Austin, we have a problem. We can't see Ron Burgundy.

Okay, here's your one.

You are extra serious tonight, Doctor. What is this? We gotta lose it. We gotta. We got a liquor. Loosen up. Come, Clement, I'm gonna move the. The fancy plant here. All right? Hold on a second. So. Oh, we need an official intro. Which camera am I. Look. Which camera is the good camera? There are so many cameras. This is really weird.

See? Money. Talk to me. Here we go. What? We're doing one of those Wednesdays with Wyan. It's not. No, no, no, no. Do it again without Wednesday.

Oh.

Dwank Millionaire.

No, no, no, no, no, no, no, no, no, no, no, no. We're not calling it Dwank Millionaire. It's Wine with Wyan. Clement. Dr. Clement, you're make. You're freaking me out right now. Okay? What is wine with Wine with wine? Did he hit the thing?

Did you do the. Did you do the.

Jacob says drink?

Did you do the. Did you do the cl.

I missed it. Can we do it again? Oh, man.

I left my. Okay.

Get back up. C Money. We got a thing to clap.

Okay.

I think that was the unofficial start. Right. Right there, the seam. C Money. Was C Money flying? You okay?

Yeah, of course.

Are we.

I'm just getting ready for dinner.

Are we. Are we. Are we going to be okay for this?

I can only speak for me.

Okay, how do we kick this off? Feel like we need an official intro like we used to do for freedom. Fast Lane tv.

No suggestions from the crowd. That was the most dead pan anyone has ever been. All Right. I'm gonna make one up on the spot. You ready? Here we go.

What's up, 1 percenters and capitalists? Welcome to Wine With Wyan. It's time to get sloppy. Let's do this. You know what we need is one of those cool intros we used to do for freedom. Fast Lane tv. Yeah, we need to do that.

All right, what's up, everybody? Ryan Daniel Moran here. Welcome to Wine With Wyan. It's about to get sloppy up in here. I'm joined today by the good doctor, Dr. Clement. Juan, MD. Doctor, what's going on?

I have none of those credentials. But this is.

This is the Internet. You can have whatever credentials you want.

Yes.

You know, I had an economics professor in college. His name was Dr. Ivan Pongrasic. He used to say, if Trump can be president, you can have A in economics, so. Oh, no, no, it was Bush. Sorry. He was not a futurist. He would say, bush can be president. You can be. He could have a in economics. He would give everybody an A because if Bush can be president, you can have a. And he would say the same thing for Obama. He would. He. He'd say, obama can be president. You can have a in economics. I wonder what he would say today.

Well, if he was able to predict.

Trump, I don't think he'd be an economics professor. All right, let me. Let me. Let's go over what we're drinking tonight. First of all, hey, can we have our. Can we have our control. Our control wine, please? Yeah. By your right hand. There we go. Thank you. All right, so first of all, we have the wine to beat our favorite.

This episode of Wine with Wine is sponsored by Costco. Costco. Please, please send us free shit. Okay, Our favorite wine is a District 7, which we only find at Costco. Correct. By we, I mean you find at Costco that.

Well, I don't shop anywhere else, so, like, I wouldn't know if you can.

Why would you shop anywhere else when you can shop at Costco? So this is. This is our wine to beat. In terms of.

What is this, like, $16 a bottle?

I think 11.99.

11.99. And it's our favorite wine. Everyone we give it to loves it. District 7. So this is our wine. This is our control wine. If the other wines we drink are.

We come back to District 7. However, I pulled up. I pulled a. I pulled a right hook. This week, Dr. Clement. This week, I went. I cheated. I did not go to Costco. I went to. I went to the I went to Joe's.

Trader, Trader Joe's. It's this. It's this grocery store two blocks down, down the road. And what I did is, so when I choose wine, I go area first. Okay. And then.

And then. And then the grape and then the year. So this is a 2011, which is like, it's older, so it must be better, right? That's wine. That's how wine works. Sounds good. If the doctor, it's okay. He's right. Because he's a doctor. And then. And then it's an Italian wine, and that's good. Right?

So it's a. Oh, it must be good.

So it's a seven year old Italian wine, which means it must. It. It. We're in. We're in the right. We're in the right direction. Wouldn't you agree?

Oh, obviously.

All right.

So being the wine drinker.

I am.

And it's. It was like 18 bucks. Under 20 bucks. So.

You got mad at me earlier for not giving you water. So I'll pour you the wine first. Oh, we. I didn't. I didn't aerate it. Is it. Does it still count if it's not aerated?

All right, who we got? Who we got on the live. I've got nine cameras and I can't see alive, which is who passed me the water. Pass you what water? This one?

Yes.

Someone just said in the comments.

Fix your label. What label? What label? What label is broken on YouTube comments?

I don't know. I don't know either. All right, Dr. Clement, what are we eating tonight?

We are eating.

Sous vide chicken thighs with a lemon and lemon and butter sauce.

Sous vide chicken thighs?

Yes.

Explain to the Internet world how sous videing works.

Sous videing is just. I think of it as like slow cooking on steroids. So at a very precise temperature and you can never, never overcook because you've got that very precise temperature.

Can we talk about steroids? Oh, sure. We should talk about. We got to pick.

No expertise in that area.

Really? You've never taken steroids ever?

What percentage of people do you think so comment. Does a ton of crossfit comment. What percentage of crossfitters do you think do steroids?

None that I know, but I. I'm.

Of the opinion that probably more than half of the really fit people that you see in the gym are on steroids.

This is. This is based on market data.

You just don't get that fit without some help. So I like. Now hold on. If you're at the ymca you and I are both the fittest dude there. But if you go to Lifetime, if you. If you go to any, like, any Gold's Gym, I think the, like, substantial. The. The top 20 people in those, they're all on steroids.

You know, I don't think I've been to, like, either the Gold's Gym or Lifetime here. Here in Austin.

Only been to CrossFit. Yeah.

So actually, I wouldn't know, but given, like, you see the people out on the. Out on the lake.

Yeah.

It's just ridiculous.

What's ridiculous? This wine's really good. Have you even tried it?

No.

I'm very impressed. This is good. It's the age, man. It's the age. I keep looking at this camera. I need to look at this camera.

Which camera are we looking at?

We're looking at this camera. I keep looking at ourselves.

Same.

And. And we need to look here because.

We are that big.

Tyler, Tyler, can you help me with something? Where's the actual lot, the actual stream here where I can see comments coming in live? This is only showing most recent. How do I. How do I get to the, like, actual stream? We're in the. There it is. There we are. Thank you. There we go. All right. We're. Oh, there we go. Okay, now, now, now I don't. I don't feel so alone. All right, everybody. What's up, everybody? Now we're back. Now we're here with wine. With wine. The wine is flowing. We're drinking. I don't even know how to say this. Would you say that word? You speak French, so is it French, though? It's from Italy, so they speak French there. Right?

I. Okay. If you are Italian, I want you to put in the comments now if you speak French, because I think you do. What does that say?

I'd go with Casson.

That doesn't sound French at all.

You asked me.

All right, well, this wine. I'm very impressed with this wine. We might have to split, test this directly against the. Oh, that's probably the label that someone in the comments is talking about. It dripping everywhere. All right, well, it's delicious. Welcome to Wine with Wine, everybody. Who we got? Hey, Nancy Blaker.

Hey.

Tanya Powell. What's up? Oh, Aiden's with us. Everybody. It's a party. John Hoff. J.C. mitchell. Aaron Post. Jacob Brown. Anthony Busio. Jake Hargrove. Tom Trombley. What's up, dude? J.C. mitchell. Perry Masterson. Who we are? We got Geno. We got Crystal. Hey, Crystal Moore. Good to see you. Michael Scott. What a great. Who else we got? What's up, Juno? Good to see you. Dude, I haven't talked to you in forever. What'd you say? See Money, Catherine Lavery. Pitter patter goes My Heart. We got.

Joshua Kaminsky. What's up? Hey, everybody. What's up, Alec? What's up, Hunter? What's up, Judson Morgan's in the his house. What's up, Sebastian Cop? Hey, Kerry Wilson. We got Derek Schaefer. What's up, Femi? Who's gonna be joining us on a future episode of Wine with Wyan. Got Alexander. We got May, Caroline, Naomi, Joanne, Hoops. Brad, Nick. What's up, everybody? Good to see you. What's up, Rory?

I think. I think we got it. Oh, what's up, Armando? What? Leron is in the house. Hello. Hello. Jennifer Zarafa. Brianna. Good to see you. Hey, Matt Costanzo. Esteban. Rog North. Brad. Nick. Greg Willis. What up?

All right.

That'S as far as I had planned. Great. I guess we're done for the night. What is it? What kind of a wine glass is that? Sea money.

I'm working hard back here.

There we go. All right, we need a prompt. Tyler, can you pick one of the best questions that came up for us to hit? We need to hit the ground running here. I haven't even tried this food. Oh, by the way, this. This episode of Wine with Lion is brought to you by Jacobson Salt Company. Jacobson Salt makes the most delicious salt in the world. Jacobson Salt. It's the fucking goat quote card that.

All right, Tyler, what do we got?

Let's go. Lifestyle. Let's start. Let's start here.

I know the question, but I just can't see the question. The best part of Jacobson Salt is, is there's no salt shaker. So you have to use your fingers, which always prompts you to do more than is necessary. It's delicious. What is this again? Butter. Lemon butter sauce. Yes. All right, Tyler, what do we got? Well, since we're here in Austin recording, Jake Harder wants to know what brought you and is keeping you in Austin, of all places.

People who don't live in Austin, Texas, just don't know how good life can get. You moved further from me. How do you like Austin? Austin, Texas, Though you know what?

I'm not sure I did because I think because of the geography anyway. From Toronto.

Really? The geography.

That's true.

He's a doctor.

I'm not, but.

I probably, well, moved. For the job or for work? Rather to. To work with you. On buying businesses. And it's a much better climate.

A much better climate. Is that recent? It is plumb that moved here because I'm here and we're buying up businesses together. I moved here because I had business here and I had. And the. The Indians weren't good at the time. That's not really why. I just needed a change. But Austin's great. What else we got? Tyler, give me a hard one. Mm.

Jacob Brown just gave you a great tagline. Clement. You're Clement, not a Doctor one.

I'm Ryan Daniel Moran, joined by Clement, not a Doctor one.

Oh, hey. Aaron Post. Good to see you. What's that time you have so much energy when a camera comes out? Have you ever been shy? And how did you overcome that?

Have you ever been shy not in front of a camera?

Yes. Anybody who asks that question does not know you at all.

So, you know what's funny is.

Every personality test I've ever taken, I'm right on the borderline of introvert, extrovert, which surprises a lot of people. But I don't like crowds, especially crowds of people that I don't know. I get really uncomfortable if I feel disconnected and there's a lot going on. So I am right on the border of introvert, extrovert. So there. I actually have gone through periods of. Of being shy. Do you know that a mutual friend of ours once described me as bashful?

Like, I think it depends on context.

I think that's the case for everybody, Right? That's true. But. But no, I definitely have. I definitely have shy moments. I think most social skills are learned. Like, there's certain aspects of it that are. That are more natural to people than others. But I mean, most. I read this great blog post recently, See Money. Remember that blog post about intelligence? Yeah. Where it ranked intelligence in multiple facets? That intelligence is not just your natural ability to process information, but it's also your ability to blend in socially and your ability to get what you want socially. And in that context, the author said that the most intelligent person on the planet was Donald Trump because he can use and communicate with other people to get the outcome that he wants. And I agree with him. Like, if you factor social intelligence into total intelligence, how do you argue with that? I don't think you can. I really, really enjoy debating people on Trump lately.

Like, well, everybody thinks he's stupid. Well, actually, just the left.

But, you know, I think a lot of people on the right also think that Trump is stupid.

That's fair.

I would venture to say that.

Do you think, do you think more people are happy? Republicans. Just Republicans. Do you think more Republicans are happy with Trump or disappointed overall?

Oh, they're thrilled.

You think so?

Trump is the most conservative and libertarian president there's been at least in my lifetime.

And I think that's like. But you're arguing on policy.

And you'd put, and you would put a more conservative than Reagan.

Okay.

Canadian.

By the way.

The reduction in taxes has been, I think it's that it's been actually more dramatic than Reagan.

The Reagan's was significantly more dramatic.

Oh, okay.

And then I guess maybe it's a contrast from the last administration, I think.

All right, so I want to hear in the comments. Well, he was coming off Carter. Reagan was coming off Carter.

Well, that's true too.

Yeah. So I want to hear in the comments, if only if you're a Republican. Only if you're Republican. If you vote. Actually I'll just say if you voted for Donald Trump, I want to know if you're happy or unhappy. And I'll. Oh, what's up, Jimmy? Good to see. Oh, hey, Katie Dorish. I'm gonna, I'm gonna go by the way. Well, I'll lose followers as I come more and more out about politics, but Trump has won me over. Didn't vote for him. I'm now a fan. So on the record, I'm very happy with majority of the policies with the exception of trade, which you and I have talked about in the past.

Well, I kind of wonder about that.

Too because like it could, I mean if you, if you look at it possibly a ploy or a negotiation tactic similar to.

He's been walking back on some.

Although today they passed the right to try act, which was really good for the FDA.

Oh, that is, that's fantastic. Comment on this. Dr. Clement, as a registered as, not as a, as a DDS md, what's your analysis of, of the right to try?

Basically it lets it, it takes the FDA out of the process of. I think it's after the.

I think the third, the third trials where.

People are able to drink the wine, try drugs which have not been approved yet, which love it.

Well, you said that in the State of the Union, which I thought was, was really great. I mean, how do you not, how do you not agree with that?

Most Democrats did not agree with it.

How in the world do you not agree with a right to try when you.

Because they believe it's putting patients lives at risk.

They're already at risk. How does that make any sense at all.

It's about the control.

Yeah, it's true. Takes power out of the FDA's hands. If they can try.

C Money, what did you think is going to happen as a result of. Do you think this will open up psychedelic research?

I think it will. I think it absolutely. I think right to try. When he first announced that it's going to be big for psychedelic research.

It.

Today that he regrets appointing.

I did see that.

Very interesting.

That is interesting. Although I never. I never take Trump at his word. He can. Oh, you can only look at results. Can one of you plug this in? Low battery. I know. I don't. I don't take Trump. How. How can you. I don't think Trump takes himself at work.

You can unplug them.

It's simply about what's going to be effective. So I don't know. I. I've stopped listening to what he says and started looking at what is the. What's the other hand.

Wants to know. Does Uber deliver wine? I don't believe it does. That would be excellent. Although, just so you know. Just so you know, Tom, we are under no shortage of wine tonight. Oh, no. We just lost YouTube. Hey, the. The podcast with Aubrey Marcus went live today. Kathryn Lavery, you got a shout out on that episode. Dr. Tom Lehman, you got a shout out on that episode.

C Money. I think you got a shout out on that episode.

What'd you say? Dope? Dope.

I didn't expect for us to not know what to talk about. I got a political question for you.

Sorry, YouTube.

Do you think the Republican Party is the best chance at shrinking government coercion in our lives? Or do you think we need to abandon the old parties and vote Libertarian? That's a good weapon.

So, full disclosure.

I voted for Democrats. I have voted for Republicans. I voted for Libertarians. I voted for the Constitution Party. I vote. I voted across the board.

I think it's only a matter of time now that there's no more parties. I think we're two elections away from there not being political parties, or at least them being much more open. Trump is not a Republican. I mean, Trump could have run on the Democrat on the Democratic side of the aisle and just changed the message. I'm not sure that it matters in the presidency anymore. Probably matters more in Congress, but it's only a matter of time that I think. I think that is dismantled.

I think parties will matter less, but given how the infrastructure that's required to get the vote to do all these things, it'll be a lot Longer than that, if parties ever go away. But I think the need for parties is lessened, and I think the control is going to be considerably less. Because if you look at the Democrats with Hillary.

If.

She controlled the party apparatus for quite some time and she did not get the nomination under Obama, and if you look at the Republicans, like, nobody in the leadership of the Republicans liked Trump and arguably don't, still don't.

I didn't. I thought even if he got enough votes, I never thought they were gonna give him the nomination. I made that prediction publicly. I was wrong. I was so wrong. So I, I think you're seeing the influence of parties being dismantled, and it's basically like a caucus thing at this point.

I, I, yeah, like, I, I do think the power is definitely diminished. I don't know that it's, it's going to be eliminated anytime soon, but Mark.

Castillo just posted a comment of all it says is Dinesh d'. Souza. I met Dinesh d' Souza before he went all dick on the world. Dinesh d' Souza used to be a completely reasonable, nice human being. I actually saw him speak at my college. I saw him speak at Indiana Wesleyan University, and he was so dynamic. He was so great. I went up to him afterwards and spoke with him and told him how much I enjoyed what he had to say. And then he got all weird conspiracy theory. He got all, like, super bizarre. And I haven't followed him. Well, then he went to jail, and then jail was a conspiracy. And he's, he's just odd. Publicly, I used to really like him, and I've lost all respect for him.

Based on, from what I understand, though, it was the reason why he went to jail apparently, was a double standard.

I didn't. Oh, yeah, yeah, yeah, yeah, much. But I'm sure, I mean, I'm sure that was the case.

But, but him just as a personality, like, he just seems to be like a shock political jock now, which I'm sure is a perfectly fine human being who just says extremes in order to get attention. Sure. No one, yeah, no one has ever done that. I'm sure. I'm, I really liked him when he was humble and dynamic and interesting. And then he got all weird publicly, and I'm like, It's like, it's like my Superman sucks. Kind of disappointing. My heart is breaking. Dr. Clement, so who do you like?

Who do you follow politically?

Politically.

Commentators, you know, what Trump would say? I follow myself, okay.

As far as political commentary. My old economics professor, Dr. Tom Lehman.

Ben Shapiro, and Sam Harris that pretty much covers the gamut.

Those are all the differing opinions.

I don't know that I called Jordan Peterson a political commentator, but.

Okay, Doc. As Dr. Clement. Oh, sorry, Clement, not a doctor one. What do you think of.

Casson? Or Casson as we would say in.

French or casson as we would say.

What is it in French? How do you say that in Canadian?

What is your, what's your review on this?

So here's my.

Here'S my caveat. I like my wines sweet and I like them not sharp. So relative to that.

So you don't like wine is what you're saying?

Basically. So I.

It'S like I don't even know you anymore.

Wine with wine.

I think this is freaking great.

I think, yeah, it's, it's for somebody whose palate is non existent. It's drinkable.

Hey. Hey, Gilby, could we grab Another wine? Two more wine glasses. We're gonna put some, our favorite D7. We're gonna put our Costco wine into a different glass and we're gonna split test this again against one another.

I'm really curious if that's turned to vinegar yet, but whatever.

It's only like three weeks opened old. Hey, Tyler, hit me with a business and a money question.

Well, I do suggest throw some Pepsi in your wine, that'll make it sweet.

No coke drinker over here.

No wine drinker, but that sounds horrendous.

Speaking of Coke, we need to talk about dividend paying stock because Poke is a good one and dividends right now I think are some of the most like undervalued asset class. Right. There are some really sweet opportunities in the market right now. I'm pretty stoked talk about this. So stay tuned. We'll have a session about dividend paying stock. Tyler, hit me with a business question. Business question. So.

When you're evaluating a new product to bring to the market, assuming it's not a companion product for the one you already have, what criteria do you use to figure out if it's a good product to source or not?

If it's not a companion product, it's not a companion product. So it's separate from the product they already have that exists. I'm of the opinion that most people way overthink their product creation and that the simplest way to know that your product is gonna work out is simply to ask your audience. Now I say that and most people counter with, but I don't have an audience. And I say herein lies your problem. But an audience doesn't have to Be that you've got 50,000 email lists or 10,000 messenger subscribers or even a few thousand.

Facebook subscribers subscribers. All this needs to be is some sort of market data. I really like what Tim Ferriss has to say about this, where he says, I always develop products that I want as a user because I always know that I'm going to have at least one customer. I take it one step further and I say, if you develop a product that you want in the marketplace, there's probably other people like you. At the end of the day, we're not selling products. We're selling to people. And people, people as UNPC as it is, tend to fall into certain stereotypes. And those stereotypes are proven true when it comes to purchasing products. So you fall into a group of people that make certain buying decisions, make certain purchase decisions, and there are other people like you that tend to reflect the same type of purchase decisions. Plus, by you putting your vote on a certain product or owning that product, you tend to tend to influence others to make the same purchase decisions. So, I mean, stop thinking about it. Don't try to analyze it, just ask. Find out what the market wants. I had a business partner named Matt. He and I used to argue back and forth about what we were going to do with this product, or it should be red or it should be green, or it should. We'd argue about little things and finally be like, you know what? I don't know who's right. Let's ask our people. And both of us would be wrong. Sometimes the important thing is that you're giving your audience what you want. And that audience tends to fall into certain demographics that by and large agree with each other. So ask them, get that market data and then release the product. Even if it's a post on your Facebook page, there's usually really simple ways to get that feedback quickly.

That's a good reminder, actually, Max, if you're listening to this, we should poll our audience for. For the next product.

Isn't it funny how like, sometimes it's so e. Like you forget your, like, your own advice sometimes, like, I fall into it too. Like what. What trick should we pull? No, it's just like, find out what people want, go get it done and sell it to them. That's business 101. And then keep doing that piece.

Mark or May asks, and Tim Ferriss lives in Austin too. Do you have any plan to invite him over for a wine with wine? Funny you should ask. We were talking about that today. Tim is an acquaintance. We don't know Each other? Well, we've met a few times, three or four times. Communicated a few more times than that. Had dinner once or twice. Have a lot of mutual friends.

We're not texting buddies yet, but. Tim, come join us for a wine with Wyan. You can actually tell us a thing or two about wine.

I think he actually can.

That's. That's why I said that. Yeah. Did I? What?

How did you like the sauce?

The sauce. I'm not gonna lie. You've done better with sauces. Yeah. This is.

What didn't you like about.

Doesn't punch me in the face with flavor.

It's. So. This is what, like a mushroom butter lemon sauce? It doesn't.

There's onions, lemon and butter.

I'm. I'll pour. I'll pour some more butter on things and get back to you. But I feel like.

That's right.

It's missing. It's missing. It's like kick in the face of flavor, which I. I like to be kicked in the face with flavor. Here's an alternative that's like a week and a half old.

Less than a week. For the record.

Do. Do we have a question from Katherine Lavery? She's really the only person that I want to answer.

Question.

I'll just wait for the delay to kick in.

Jason Smith. I will be in Cleveland soon. Want to go live dinner with me? Absolutely, I do. Except I live in Austin, Texas, so send me a video. I give you dinner recommendations. In Cleveland.

There'S a really good sushi place called Tomos. It's great. Tuesday is all you can eat. It's awesome. It's in Strongsville.

Another place would be Melt Bar and Grilled Gourmet grilled cheese. Do you know Dr. Clement? You can tell me if this is good for my heart. As a cardiologist.

I made a keto grilled cheese sandwich today.

It was delectable. It was delectable. Great. Yeah.

That's wonderful.

You suck. Should be way more excited. Actually, it leads into another question. What's that? Keto in. All right, let's talk about keto and paleo. You got one person in keto and one person on paleo right now. Whoa. We're dying over here. We're dying. You're not. You got to plug me in. You got to plug me in. Do we have a question from Katherine Lavery yet?

Quick, boost a video to Katherine Labry.

Target Catherine.

We got to target her pixel. Her Pixel. Catherine.

Clement. Dr. Clement, where you. Where did you go?

Apparently, the power's not Working.

People are perfectly capable of figuring out power. But I'm a mess without you. Santiago joins us. Santiago. Oh, Santiago. You okay?

Santiago prides himself in being a socialist.

What?

I think he's joking, but maybe not. We should call him.

Where's Santiago? Santiago lives in the building.

Santiago, get here now. You're the first guest on Wine with Lion. You need to come down here now. You moved here from Brazil or China or Resilience Japan or wherever you move from. Wherever you move from. You need to get here now. You need to come to force. What floor is he on?

8.

You need to come up here right now.

He was complaining last week that we didn't answer his questions about socialism.

I'm inviting you to my freaking house. Get here now. Quit complaining. Do we have a. Is Catherine here yet?

Nothing.

What is going on?

She may have laughed after those Trump comments.

That's true. I'm pretty sure I see money. I was pretty sure you were about to leave after the Trump comments. I. I could feel your blood pressure rising. I was like, Trump won me over. And see, Money was. You okay?

Eating the broccoli isn't.

Eating's hard.

It is.

It's so. I know.

I. I see money. I thought you were about to like do a. Do a strike walkout. When I said trumpet on me over. This is. That looked like a swipe up. Swipe up to see Ryan and C. Money debate politics, which I am. I am happy to do.

Or mostly agree, apparently.

What?

It's a debate. Oh, C. Money. Never mind.

Who did you think I was talking about?

Clement, mostly.

Who's Clement?

I don't know.

Matthew, I'm from a rural area and having a tough time finding like minded entrepreneurs to grow my peer group. Would you recommend moving to a city to find more people of that mindset? That is a fascinating question, Matthew. You know what's funny is I crave the slowness of a town. Like, I grew up in Cleveland, Ohio, and I crave that type of tranquility. And.

I miss it. And when I go back, I get it for like a week and then I'm happy and I can't wait to come back. I would recommend coming to a place where there are more like minded people because you tend to become like the people that you surround yourself with now. What's interesting is.

Do you want to be a big fish in a small pool or whatever the opposite? One of that is? I don't know. The wine. I feel the wine. But I know that when I go back to Cleveland, I feel better about myself because my comparison is different. Like, I'm like, I can buy this whole city, whereas in Austin, like, I'm not paying that for a two bedroom house, right? So I enjoy going back there and getting the serotonin kick of feeling like, you know, it's a very powerful thing being the fittest person. Person in the entire state. But when I come to Austin, Texas, I'm just kind of average. Like, my net worth is probably higher than average, but, like, I'm not. Not that high. And when it comes to fitness level here, I'm like, an average dude, right? But in Ohio, I'm freaking king. So I enjoy going back and having my time there. And then I want to get the hell back to Austin, Texas. You better get over here fast. Get over here. Are you.

Don't touch me.

If you're really a socialist. All right, so I need you. I need you to clarify these comments immediately. I. I just like to play devil's advocate.

Drop it down.

Okay. I like to play devil's advocate. Okay, you want to play devil's advocate? All right, so what. And who in the world could advocate for socialism? Not. Not for socialism, for redistribution. That's the same thing. You just. You just repeated yourself with a different word. Okay.

We have a convert. Ladies and gentlemen, welcome to libertarianism. I'm not. I'm not. I didn't say the degree of the.

Redistribution, but some sort of redistribution.

All right, so. So, you know, that's funny. Immediately, I'm gonna go, okay, Santi, so what do you. What do you. What is your actual opinion on this?

So my opinion is. I'm not gonna lie. I think Your view on YouTube right now is really funny. You look like a head floating out of a plant, and I feel a little weird speaking to the camera while I know you're behind me. And we haven't even made eye contact yet, which makes me feel a little bit weird. But let's keep going.

I can see you through the camera.

My view on it is very central in the sense that I see the plus side of both sides, and I'm too young and too naive to.

That is such a copy.

But I think that's kind of refreshing and honest. How old are you, Santiago? I'm 20. All right, you're 20. Most people your age are like, I know better than everybody. So I'm actually refreshed by the fact I'm too young to have a fully fleshed out opinion on this. Yep. I actually like that doctor.

That's his diplomatic stance. He does doesn't actually that is so.

Cardiologist. Cardiologist Clement.

You know I thought up to cardiologist Clement and I don't know what I was going to ask you after that.

I will add for your earlier question that I did, that was one of the reasons why I moved to. It's because Toronto is a much, I feel it's a much less entrepreneurial city.

Toronto is.

Yeah.

Toronto is the most diverse city in the world though, is it not?

Yeah, I, I guess culturally probably one of the most diverse but at least for the people I hung out with. And this is like, this is the big thing too. Like you're the product of I think your five closest friends and I think.

Studies fact from a doctor and I.

Think studies show that you can only really maintain five close friends at a time. And so.

Wow, that's scary.

It's really difficult. Like if you're in a small town, it's so difficult to try to.

Exceed expectations. And it's in a city like Austin or in many American cities, people I feel just aim higher, they expect more. And I think that that's both good and bad in the sense.

Totally.

People complain about consumerism and things like that, but I think the positive is that it moves most of us forward.

So this is the part of the show called ask a 20 year old socialist.

Today's submitted question is from Drunk Ryan. Drunk Ryan would like to know 20 year old socialist, how much redistribution is enough? I do not know the answer to that question. Drunk Ryan would like to know 20 year old socialist, what are the benefits of redistribution of wealth?

The benefit is to give.

To give.

A set of tools or the way I see it is you need enough.

Tools or need a way for the, the community of people to have a.

Certain level of understanding of how the.

Capitalist system works so that they can make rational choices.

And that is a bare minimum requirement.

In order to be able to participate in the market.

So you're saying a little bit of socialism in order to allow them to participate in a free market.

Yes, that is the opinion that I've formulated so far.

So.

Hey. Wow. Hello. Wine. This wine is great. This wine. What? How do you say this in Canadian?

In Canadian I'm good, thanks. Not allowed to drink wine. Also proctologist Juan.

That's true.

Oh yeah.

I would have committed a felony.

I didn't offer him wine.

Maybe it's a felony. I have no idea.

Okay.

Convicted felon, proctologist Juan.

You know, I have a confession. I believe in redistribution as well.

Through markets.

Yes.

Because markets control prices which make it feasible for everybody to participate. The only way you ever make health care affordable for all is not by guaranteeing it by government. That makes it more expensive.

And, and you can also make the argument that the healthiest charities and not for profit sectors are in for profit. The more for profit an economy is, you have bigger not for profit sectors.

I have no idea what you just said, but I agree.

And they're far more efficient than government distribution. So as the devil advocate, I would ask Ryan. Really, is it a devil's advocate?

I'll ask Ryan.

We'll allow the preface.

Do you think that there needs to.

Be some level of rationality in order to make decisions as a player in the market?

What do you mean? What do you mean by rationality? You need to be able to understand.

The pros and cons, including price in when you, when you choose to either.

Buy a product, so consume a product or service. You need to understand what the pros and cons are both in the short term and the long term. I'm not going to phrase it as. I'm going to say there needs to be some sort of incentive. People, people don't act rationally, but they do act with their own self interest and their own, their own incentives. And we tend to justify things emotionally. That doesn't make it any less right or wrong than rationality.

And this is, I think, also where Santiago comes out as an elitist.

How do you mean? You don't have to make it personal.

I think Santiago's concern couched in his supposition language is that.

Is that poor and stupid people need smart people to tell them what to do.

I did not say that. That is absolutely not what I said. Were you gonna make the argument that people are not rational? I'm making the argument that people need a certain level of education as I don't know what the line is drawn to be able to make long term good decisions, whether you frame it as an incentive or as a consumption, you need to understand what the implications are. So I think when you take away painful implications, you make people dumber. When we take away the responsibility of actions, we make people dumber. And so you have to let people experience pain. You have to be willing. There has to be a level of pain associated with bad decisions. That is how you learn. That's how you make people. That's how people get smarter. It's how you get better data over time.

I would qualify that in saying, like, I think, I think if there's any role for government, that it's to make sure that we don't fall below that threshold of life. And I think. But I also would qualify that statement in believing that charities in the nonprofit sector do a much better job than government at identifying where those resources need to be allocated.

Complicated.

And so, yes, I don't. I could not see myself being okay with seeing people die on the streets. And to that end, I think charities are much better equipped and more efficient at dealing with problems. There was a conversation about homelessness. It wasn't. It was.

Was Liam Neeson. Paul Miller.

Paul Miller was say, talking about. Paul, if you're on the. Or on here. Hi.

Paul was talking about.

Paul Miller went from zero to $5 million on Amazon and Shopify alone. And you can hear his episode on Freedom Fast Lane, the podcast. Just Google Paul Miller. Freedom Fast Lane.

Thank you.

But Paul was talking about homelessness in Austin. And how do you. How do you deal with an issue like homelessness where places like Austin are seeing a lot more homelessness despite the fact, or maybe, as I would argue, because of the fact they're trying to deal with the problem.

And so you subsidize it. When you subsidize something, you get more of it.

Absolutely.

Where is Catherine Lavery? See money. See money come into the frame.

See money. Everybody see money. Why do you get uncomfortable when we talk about Trump?

Well, I'm, I.

Are you a socialist? You can take the socialist quite.

I genuinely value your opinion, so I want to hear.

I cringe when you use the words like, like, and love, because I understand enjoying and benefiting from his policies. But.

You know, obviously there's some. Some personal things going on, and.

You know, it's a problematic president. You know, what can I say?

How would. How do you define that? A problematic president?

I'm really gonna put on the spot here.

So, like, for today, for example, he was tweeting about, like, how he's owed an apology by, like, the news and, like, the fake news and, like, media because, like, people.

Apologize to Roseanne Barr for her comments. So there's, like, no level of pain, pettiness, to which he won't sink. You know, so he has these, like, character flaws and, like, personal flaws. And I get it, like, you guys are more interested in policy and don't really care about his tweets and his personality defects or narcissism.

But I think he's just honest about it. Like.

I.

I don't think any of the previous presidents are really all that different. They just wouldn't have tweeted about it. I think you have to be a certain level of narcissism and, like.

Crazy in order to even run for president.

I. I'm totally sympathetic to what. What C. Money has to say in terms of him being basically a chaotic president. I just choose to ignore all the personal stuff, and I choose to ignore all the stuff in the media and just watch what gets done. Done. For example, like, if you can't appreciate what happened when he treated. When he tweeted. Treated is the wine version of tweeted when he. When he tweeted to Kim Jong Un that his button was bigger and better. I mean, if you can't appreciate the fact that was a political play and now you force north and South Korea to the negotiation table as a result of him playing. Playing even crazier than Kim Jong Un. Like, I mean, you have to. You have to, like, look past the Persona and look past the drama. And then I think, like, the chaos. There's almost like a strategy to the chaos, which I personally choose to respect. But I totally get, like, when the whole Stormy Daniels stuff came out, I was like, I'm done. Like, I. Like, I can't. Like, I can't keep defending somebody who has now slept with a porn star. Right.

Like, yeah, he comes with a lot of baggage. If you're like, is this a good role model for my son?

Exactly. And. And he's not.

We don't need our president to be a good role model. But, you know, I think at the same time, like, people are overly attributing his role in North Korea. People could say that South Korea and China had much more to do with that. So, you know, I think this is like a really. It's like an immature disgrace to the presidency to be using your Twitter to say, like, we've got. I've got a bigger rocket than you do, little man. You know, it's just childish.

I think you're absolutely right that it's childish. And. And it was effective. So I guess how we're evaluating it is like, do you. Do you evaluate presidency based on image, or do you base it on end result? And. And I totally get both arguments. Like, I have family members who are Republican who would say, I'm so embarrassed by all this because their judgment is based on Persona, professionalism. Is it a good role model for my children? I'm totally sympathetic to that. I. I don't evaluate it that way. And neither one's right or wrong.

I just. I just don't evaluate it based on that.

I think it's high time that people stop viewing the president necessarily as a moral leader. And when Trump was elected, he was not elected as a moral leader, thank God.

Well, and I will say this, too. Let's imagine that JFK, for example.

Lived.

In, in 2018, in the Twitter era, in the social media era, with all of his scandals, all his problems, all of his drug use, all of his affairs. And so, yeah, I mean, there's something to that, you know, that, like, we need to give up this romanticized idea that this is gonna be, like, a golden, perfect person that we can all look up to. But at the same time, you know, know, I'm still embarrassed by the Twitter.

I am too full. I. I'm embarrassed by it, too. So I totally get it.

Funny.

No, I mean, I. I totally get it. I just, I look at what's the end result and.

Look at the breadcrumb trail of how they got there, and I think that there is some chaos.

So, one question here. I want to see you guys call some people. Are either of you concerned about the illegal misuse of campaign funds and what's going to happen with the investigation by Mueller and what's happening with Cohen? They've just seized his phone. They just got tons of text messages and everything that's going on. I mean.

However you feel about it, is this something that is going to potentially lead to us having President Pence? I mean, does that concern you at all that he is misusing campaign funds and that could end up getting him impeached or getting him, you know, you're.

Assuming that he is misusing presidential funds. And I think, like, again, I wonder about the standard that they're using. I think that the whole reason for themselves, Mueller investigation, it apparently has become this free for all where he's investigating Trump as opposed to trying to investigate whether or not a specific crime happened. And I think that's going to be a problem for all future presidencies. And if you're. You're going to diminish the likelihood that there's going to be a special prosecutor in the future. And I think that in many ways, if Trump is brought down by the scandal, you're not going to only get more of Trump, you're going to get somebody worse because you haven't dealt with the underlying concerns that people have and why they voted for Trump in the first place. And by and large, at this point, like, if you look at the polls, people don't necessarily believe, like, that Mueller is a honest party in investigating this, in that he has A grudge. And he is looking for something just to pin on.

He seems like a much more reputable, objective person than.

That's not what his history shows.

Okay, I gotta plug this guy.

His history shows that he is more.

He's a Republican, you know, and so.

Like, Republicans are assholes as well. This isn't. This should be of no surprise to anybody.

I just love the comment that came in on YouTube that says, I. I agree with the good Canadian doctor proctologist that it's a bogus investigation. Hey, Tyler, can we take a question from YouTube specifically? Hey, if you're watching live on YouTube right now, do me a favor and say, hey, in the comments. I know we haven't spoken to you directly yet, so do me a favor and say hello, and I want to pivot here. Here. Let's talk money and let's talk business. I could talk about politics and Trump all day, but let's be real. All of us are in this for our own goals. And I believe that personal responsibility and your own goals way matter way more than what the President is doing or what anybody in Washington D.C. is doing. So let's talk about your life, your business, and your money. Well, I pull my guts.

Oh, there's also a plug there.

He needs to save things from falling. But I want another glass of wine. All right, so here's what we're gonna do now.

Haven't tried this one.

We haven't. So I was just about to split test.

Oh, right.

The.

The D7, the vinegar. The old. The old D7. Right. So I want to talk about dividend pay. Are you leaving? Santi, I love you, buddy. Good to see you. Thank you for coming.

Fine. Yes.

Well, this is racist. To the Chinese guy speaking. There's. That's racist.

Everybody knows that. You're Russian and Canadian and you speak French.

Yeah.

Oui.

As they say.

Hey, how do you say this in French?

District seven.

Okay, so let's take a. Let's take a glass here. I want to talk about dividend paying stock. I want to talk about business. We might talk a little bit about private equity buying and selling companies. But first, let us pour our wine.

Oh, that comes out nice.

Well, gotta rate it high then.

Okay. Do you remember what the other stuff tasted like?

This is a true split test here.

Yes, I did. And this one tastes a lot more like vinegar.

Does it?

Yes.

I think it's great.

So I'm no wine drinker.

I think it's great.

But this is not what it used to taste like.

Really? I can't tell a difference between old wine and. I can tell good wine from bad wine, but not old wine. And new wine, apparently. What's that line from a good friend of mine, Jesus of Nazareth. You pour wine into old wineskin, it bursts. And the camels and the eyes of the needle.

That's a direct quote, right?

So you were thinking about becoming a pastor?

I was. I did go to school to be a pastor, yeah. Okay. Wineskins and camels are friends of the rich man.

And the meek shall inherit the earth.

Excellent.

I'm pretty sure that's a direct quote from Mark 12.

Yes, I'm sure you're right.

I think I feel I'm insulted. You're religious. You're religiousist.

We need to release the. It's actually on the bottleneck. I'm losing my religion right now. I take back my point. I'm not my point. I'm saying, like, point at you. I didn't mean to pin that on you. I was emphasizing a point. The Losing My Religion documentary series is edited. It's ready to come out. I'm the bottleneck. I need to send back feedback. Wow. The wine has hit me really hard. I need help. Shoot me a qu. We're talking about money somewhere, right? Jake Hargrove hit the nail on the head. We're about to talk business. There it is. Pour new wine into new skins so the skins will expand. That's not it.

That is not. You are misquoting Jesus.

Nor is eat some meat, bro.

It is. It is a terrible thing to misquote Jesus. That's why I got the quote. I made sure I was spot on before I said anything clearly. Mm.

Don't misquote Jesus.

Questions or call.

Oh, Brent writes, my pastor growing up says, paul told Timothy a little wine is good for the stomach. Thank you, Pastor Brent.

A little was the qualifier.

I've had a little. Had a little. What are you saying, Canadian?

I'm not judging.

I'm. Anyway, let's talk money in business. Clement, what are you investing in right now.

As a doctor? Have you paid off all of your student loans from medical school?

That's like, have you stopped beating your wife?

Question. Have you go to medical school? Have you stopped feeding your wives?

Busted.

Anyway, so.

What am I invested in? All right? All my money is in my businesses.

What are your businesses besides heart scans and.

Colonoscopies?

And as an eye doctor, you check vision too, so, yes, clearly.

Is it because I'm Asian that you're making these medical jokes?

That's racist.

Yeah.

Really? How dare you accuse me of being prejudiced.

Well, you're white.

I just wanted to honor the fact that you're an ear, nose and throat doctor.

Anyway, so.

We have our brands together and I also have a specialty contract manufacturing business which is based out of Hong Kong and those are the primary ones.

So you're all in on business?

Absolutely, because you can control it far better than a stock.

So I have three criteria on looking at investments. I'm looking for long term wealth, I'm looking for cash flow, and I'm looking for tax, advantage, efficiency. The only investment that checks all those boxes by leaps and bounds. Like there's some investments that help all those criteria like dividend paying stock, which we'll talk about in a second. But the only one that meets all those criteria with like flying colors is your own business. Does your own business allows you to write things off. You get different, you're taxed at a different rate. We get to argue about whether it's fair or not. You have long term wealth if you're building a sellable business and the cash flows are completely within your control based on sales and profit margin.

So if you are people, people will often ask, what is the thing that you should invest in? And I counter with, do you have your own business yet? And if not, like, there's nothing you should be investing in right now. Have on my list to record a video on the difference between passive income and business because people often correlate the two and there could not be anything more different. Your own business is never passive. Passive income is never a real thing because income only comes from business. There has to be a business in the first place to generate the income. The only way it's ever passive for you is if somebody else is managing the business. Which by the way, is why I don't buy real estate anymore. I just invest in people to whom that is their business. They're all in on that as an asset class and I'm going to get a piece of that as passive income. But if it was my own business, I'd be worried about is this person going to renew their lease? Is this management company doing a good job? Are my rents high enough? That's not passive. Might be passive for me as an investor, but if it's your primary business, it's never a passive thing.

Do you think everybody should start their own business?

No.

Okay, so then they should invest.

So you're saying if somebody's not an entrepreneur, what should you invest in? I mean, most people are asking me claim to Be entrepreneurs. So if somebody is not an entrepreneur and you're looking to invest, I don't know, it's not who I usually talk to, not who I usually address. But I mean the investment strategies would probably, probably be the same. Take 10% of your income, put it into long term dividend paying stock and if you have savings at the end of the year, at the end of the quarter, that's when you invest in more.

Higher yield asset classes. So I guess it's probably the, the same thing. I would, I would be more inclined to agree with Robert Kiyosaki when he says you work your job, you invest first in some sort of a side thing. Whether that is a website, a side hustle, a network marketing business, whatever it is, their first investment is some sort of a side thing and you use those profits to invest into your long term cash flow.

So why dividend paying stocks versus say an ETF in the market boom.

Love this question. So I have very specific criteria of what I'm looking for when I'm buying dividend paying stock and I'm looking for and by the way, if you can show me a way to invest in the market that beats dividend aristocrats, I will concede this point, but I'm yet to find over a very long period of time, I'm talking 10, 20, 30 years a way to invest in the market that beats the returns of dividend paying stock. Because with dividend paying stock you have two pieces of compound interest. You have the increase of dividends, meaning there's certain dividends that have increased the amount they pay their shareholders every year for 25 years or more. And if you're reinvesting those dividends, then you're buying more and more shares every quarter or whenever they pay the the dividend. So you have two forms of compounding interest, the 10% per year of the increased dividend and the increase of paying of the number of shares that you're purchasing. So that double compounding interest, I'm yet to see an ETF or any other way to invest in the market that beats those returns.

We have stumped the doctor. Ladies and gentlemen, I need to see the data.

So even if you look at for example of dividend paying stock, in the event that it stays flat or that it goes down, even if that is happening when the dividend is being reinvested, it means that you're buying more shares at a lower cost. As long as that dividend keeps going up in value, it means you're buying cash flow at a More and more affordable rate. Now that's under the assumption that the, the dividend continues to go up over time, which is a big assumption. But if you're buying into a stock that has 50 years of a proven track record of an increasing dividend, that's a bet that I'll place. So right now I like, I like AT&T, which I think is a horrible company, but their dividend is so attractive. It's six and a quarter right now. Six and a quarter per year. Can you imagine if you had a bank account that paid you six and a quarter? I love Procter and Gamble. I like Johnson and Johnson. Right now you look like you have a different opinion.

Yeah, I'm, I, I'm a little skeptical. Only because if you look at like, look at the, the companies that have grown the fastest in the last several decades, they, they weren't even in the Dow. They in or they weren't even in existence like 10, 15 years.

Give me an example. Google.

If we even like look at the growth of Apple, Apple hasn't paid. If we look at Amazon, great example, you're losing out on a lot of growth. But at the same time, like your, their volatility is inherently a lot higher, so your risk is arguably higher. So.

Again, I don't know because I haven't looked at the data, but the reason why stocks have high yields is because people don't believe in the underlying companies.

And how, how do you mean?

So they bring down the price of the stock because.

They assume that the yield will change, which it can. Like for instance, AT&T will, Will it continue paying dividends or increasing their dividends forever? Well, hopefully not, especially if they keep up their crappy service. But.

It'S the reason why people are worried about companies like AT&T is the, the, the business is changing radically.

So I, I understand, but the, I understand that concern, but even if we look at something like. So I bought in at Target years ago.

I was just about to re refill it with the other, the good one. The. How dare you Dis. Costco wine. I'm not dissing, by the way. I own a lot of Costco stock. How much do you own, Dr. Clement?

I, I help fund with the dividends for Costco.

Thank you. He's the reason my Costco stock has gone up so much in the last year. And they pay a healthy dividend.

Carrie here says that the AT&T dividend is so high because they have to pay shareholders to buy their stock.

I have no idea what that means.

Did you agree with that corner think that that's true either? Like, I mean, obviously it's a flippant comment, but.

Oh, we just called you flippant, son.

Boom.

I mean like.

I don't think in most investors and good investors at least don't attach any emotion to the investment. But so the question is like, I don't know how AT&T stock has performed in the last five years. I'm guessing it's not been like.

You're absolutely right.

And so the reason why their dividends are high is because their stock is probably low from historical standards.

Correct. Which to me is a point of opportunistic buying. So, so for the example that I like to, to talk about that I've said over and over again is I bought in at Target when Target had that big. Do you remember the, the credit card leak a few years ago when a bunch of Visa credit cards got leaked and, and.

The Target stock came crashing down and I bought up a ton of Target stock because their dividend was really healthy. It's gone up every year for at least 20 years. And bad news killed the stock price. I went like, I bought a ton of. That was temporary bad news on a healthy company that continues to increase its dividend. Now we could sit here and argue is retail, is retail going to be completely disrupted by Amazon? I think Amazon might buy Target, I think or Facebook could come in and buy Target. I think Target is going anywhere. And if they are going, if that price continues to go down, if they continue to raise their dividend, I'm going to continue to, to buy. I think dividends. Dividends are cash, are come out of cash flow. And the health of a business is always determined by cash flow. Otherwise we're speculating. Which is why I don't buy Bitcoin.

Well and I, I would argue like there are obviously a lot more factors than whether or not somebody can pay a dividend. Well, it's a question of whether or not they can keep on paying a dividend. I think what a big fan of Peter lynch and I think one of his Peter principles is it's always darkest before pitch black. And the idea that it's, it's always going to pull through. I, I don't know that that's, that's the case.

The real question is when is Jacobson Salt going to ipo? Because Jacobson Salt is the goat.

And with that goat, God turns on a light overhead.

Here's a question from YouTube.

YouTube.

Back to business.

You want, you launch a product on Amazon, it doesn't perform the way you thought it would. Do you double down or fba or do you read the books that you recommended in your email? The five books you recommended? That's a very bizarre question.

How is that an either or?

Yeah, how is that? How does that make.

I'm gonna pretend you asked. What do you do when a product fails? I'll tell you what you do when you put when a product fails, first your product failed probably because you didn't have an audience that you knew would purchase whatever the product was. I feel like a broken record sometimes when I say that if you don't have an audience, you're flying naked. But it's true all the time that the only way products fail is when you don't have data to support that the product is going to perform. And if the product is of any value, you will have a rabid audience that will support that. Now sometimes the product release isn't strong enough to be able to support the growth of a company. For example, do you remember Cricket Protein? The Exo protein? Yeah. They sadly just closed up shop. Oh yeah, right. So there's. Their sales were super strong. Okay, right. But they didn't have, they didn't have the sales to be able to support the overall growth of a company, which is kind of sad because it was a really unique product. But at the same time, had they pulled their audience and said, do you want to buy Cricket Protein? Probably not. They were going for a disruption play, which is totally great. Which means that they have to have higher costs and higher advertising to be able to create that growth. But if you've got an existing audience already and you go to them, you ask, what do you want to buy? Do you want this? And then you scale from there. It's really hard to see a dud. It doesn't mean that it's going to be a million dollar product or a ten million dollar product or have a big exit. But it's hard to have a dud of a product. So if you release a product and it doesn't work out, what you can do to fix it is go to existing audiences that would be around the market to buy that product and ask them, how would you improve this? What would make you want this? You go back to the research point and then you re release the product later. That's what you do. When you have a product that doesn't.

Work out, how do you know a product has failed?

That's a great question.

I'd say when you don't have the profit margins to be able to sustain the advertising required to grow, grow that sales channel.

But there's always going to be, or there may be some ramp up to get to that period. So maybe you just haven't hit. Hit that point where.

Yeah, that's tough.

Okay. That wasn't.

I think like even in our portfolio, like we, we wonder about some of the products as well and fortunately we have enough that we can reprioritize what, what, what we focus on.

While we can shift different things about, like if it's in our beauty products, we can shift the ingredients or improve it to optimize for the specific problem that we're trying to solve.

But.

In stocks they. One good, one good approach I think to deciding whether or not you have a dud on your hands is would you buy it again? And if you wouldn't then why are you still holding? Is usually the question.

I think it's a little same with employees. Right. Like would you hire this person again and if not, why do you hold on to it? Yeah.

And I think it's for products it's a little bit more difficult only because you don't really. There's always.

You don't know when it's going to turn around. Like when is it gonna break through? Right.

Yeah. And I think somebody was commenting as well. Like it happens on this. These last few weeks we saw massive purges of reviews and there were some winners out of this. Even though a lot of the established players got, got hit. Some of the, some established players who have been struggling are doing phenomenally because their competitors have been decimated as far as reviews go.

Yep. I'm predicting, I think we're have a new wide open west period. I think it's gonna, I think a lot of people have been.

Flying under the radar with certain tactics might be wiped out and there's going to be an opening for people who are nimble and can move quickly into markets that have been really saturated up into this point. I think that's going to open up.

I think. Hasn't that always been the case though? Like. Yeah, every saturated market.

Yes, yes. That's what people don't understand. If you go niche enough, if you're going after a specific person, there's always an opportunity to penetrate a market. There's always opportunity to go in and capture that market base. Absolutely, that's always been the case.

Yeah. You look at like companies like.

Actually just pointed out to me this week.

That weird neck thing that you put into the door and you lie on it. To stretch out your neck.

I have no idea what you're talking about.

Anyway, I talked about this. No, no.

Is there someone else?

Yeah, there's someone else. And actually lots of people.

Anyway, they're selling their product for almost double what Chinese manufacturers and competitors are doing.

That's racist.

But it's also factual.

But they're selling a lot more. And it's. It's weird because like.

Or.

Or another good example is yeti. Like, they sell freaking coolers. If they didn't hate Trump so much or the nra, they might. They might do a lot better. But.

But it's just surprising how they were able to create this whole. Whole new area in coolers, which has been dominated, I would imagine, by Coleman forever and ever and ever.

I want to say hi to Dennis Murphy. What's up, dude? Oh, Dennis, you can absolutely have a naked picture as of me as your background on your phone. That's cool. It's not weird at all. Matt Gill. I'm thinking of the color aqua right now. Mark Castillo. What's up? Hey, Claudio. Hey. On Hell. Mendez. Hey, Leslie Garcia. Howie, my man. Good to see you, dude. And.

No, there's not really cash flow with cryptocurrencies. You have to do things like staking.

It's just.

No. Anyway, I love you, Howie. I really do. Hey, Jay. What's up, Carrie? Hey, Daniel Grant. What's up, Demutri? Oh, I'm not gonna try to say your last name. What's up, D? Good to see you, dude. Jimmy, darts. What's up, Carrie? Hey. Steve Hoven. Hey. The Joanna. Sean Miller. Good to see you, dude.

All right.

Hey, Jose. You know, I love the name Jose because I really like saying hey, Jose. I just. Do you remember Angels on the outfield when they were like, oh, is the national anthem about a guy named Jose? Jose, can you see. Do you remember. Remember that from Angels in the Outfield? C. Money remembers everybody. Hey, Greg Beny. What's up, dude? Hey, Josh Costner. Hey, Hunter. Alex. Amy Hall. Good to see you. Chris Sto. What's up, Brandon Swera. What's going on?

Okay, so here's what we're gonna do. First of all, it's time. Let me try this again. Hold on, I gotta tap the. I don't have any wine in me, Ryan. I have wine and a lot of salt in me because Jacobson salt is the fucking goat. And the result is I have this unquenchable thirst which can only be solved by more wine.

Like this one.

It's time to call some Fans. But first, let's try. Oh, this one is a French wine. So here's what I went with here. So this is a French Bordeaux from 2015.

Yeah, but. Yeah, show them the French Bordeaux from 2015. This is actual French. Now, is that native French, or is that Canadian French?

I think the produce of France suggests that it's from France.

Okay, great. How do you say that in French, doctor?

Produit de France.

I meant the name of the wine.

Which is probably a horrible accent, so I apologize for anything.

Canadian.

Grand Trou.

What's he saying?

I have no idea, because I. Well, I'm imagining that's the name. Village Medieval.

Okay, now you just sound weird. You just sound weird. You sound stupid right now.

Are you calling French people stupid?

No, Canadians.

Oh, okay.

Yeah. So what is. What does that say in. In. In God's language? English?

It's a Bordeaux.

It's a Bordeaux. All right, let's try this Bordeaux.

Renee wants to know, how many bottles of wine are we in? This is number three.

I'm gonna mute y' all for five seconds.

You're gonna.

And you're back. Wait, are you.

What was awful?

I just chugged the rest of that.

Hey, can you guys hear us? C money says we might be muted. Let me know. Can you hear us.

In those. In the. In the commentos.

Come in the. In the. How do you say comments in French?

I don't know what the French is for comment.

All right, we're good on YouTube. All right. All right, we're good. We're good. We're good. We're good. All right.

We're good.

All right. Pour me some Bordeaux, Doctor. Hey, how many. As a doctor, as a cardiologist, how much wine is no longer good for your heart?

Thank you. How much wine is no longer good for your heart?

I thought you drank a lot more than that. These are huge glasses from Costco, by the way.

Thank you for sponsoring the show. Costco. What's the. Who's the CEO of Costco?

I have no idea.

CEO of Costco. Call me. Come speak at the capitalism conference or comfort wine for wine with wine. Pour yourself a glass of Bordeaux.

I don't know how they do things in Hong Kong. French Canadian.

Doctor. That's a weak pour. All right, let's have some Bordeaux.

How do you. How do you evaluate that Bordeaux?

Deeper flavor, and it is sour.

Agreed. I like it, though.

It's wine.

Crystal Moore says, I think Clemens should pick the wines next week. I'm very happy with these selections.

It'll be like A whatever.

It'll be like a what?

What is it called when you, like, mix it with fruit juice or something?

Oh, it's with Pepsi.

Oh, yeah. Maybe we're gonna.

We're gonna mix it with Pepsi. What happened to Gilby?

He has to take off.

What do you mean he had to take off? He said.

He told me he was getting bored.

He was bored.

I think his girlfriend was itching for him.

He's fired.

I was gonna ask you earlier, do you think we should bring Gilby on full time? But if he's gonna be bored on Wine Wednesday, he's automatic. No, no, he's fired. No, he's fired before he's even hired. He just left in the middle of Wine Wednesday. I was seriously gonna ask you. Should we bring on Gilby full time?

Yeah.

And he left.

He left.

All right, Tyler, who are we gonna call? Ghostbusters. Yeah. See? Money. Got it. Tyler, who we calling? Well.

I've called a few people and nobody's answering.

So do we.

Did you call Gilby or something?

Catherine.

Where's Catherine Lavery? Where's my. Oh, my phone is streaming to YouTube right now. I was like. It's called Catherine Lavery. Hold on. I'm gonna. Hold on. I'm gonna get. We're gonna. Hold on. Oh, shoot. Hold on. We got. There's somebody on YouTube. Oh, shoot. Fixie would really like some advice. I would like to call Fixie and I. I can't do. I can't do it.

I was trying to fix it. Let's call some people.

Let's do this. I still have chicken thighs to eat.

Where's Katherine? Lab.

Let me look for.

What is this? I'm sitting here alone. I'm alone now, and I'm kind of a big deal.

We called him last week.

Did we?

Aiden just likes to give his number out on. On the Internet. Every four of them in. Aiden is there giving out his number? You know.

I said I was on j. Date last week. Aiden has his phone number out public.

Wow.

A lot of people did not pick up the phone. Not even Brianna Thomas.

Brianna. Call her again. Call Brianna again. Is this Daniel? All right, I'm calling Daniel Grant. Yeah, he's. Call Brianna again. Is this Daniel? Call her again. It is. Hey, Daniel, are you watching Wine with Wine right now?

He is. Gilby is legit fired before he's hired for leaving during Wine with Wine. I'm not even joking. Was that. I kid you not. I was like, do you think we should bring him out, like, Because I know you're going to need editing right now. You said you. You. I don't believe you. You. I don't believe you. You're just saying that, cuz you didn't know that I was like, should we hire Gilbert?

Oh, who we calling? Oh, we could call Nick. Who's Nick?

The came.

Bring this dude on. And where's Catherine Lavery?

You got D.

Okay, okay, I'm gonna.

Give you, I'm gonna hand you off.

To Ryan, but ask that same question, but with less words.

Is this Daniel?

Daniel, I understand you're gonna ask me a question in as few words as possible.

Very few words.

Go ahead.

Hey, man, first of all, thanks for letting me speak to you for a minute. If you're out of question.

I like it when people thank me for letting them speak to me. Keep going.

I'm Wine with Brian. It's your show.

Indeed. So what's your question?

My question is how did you determine the niche that you wanted to serve? I'm sure that you've gone through a lot of different places in business. How did you kind of determine the demographic and the people that you wanted to serve?

So let me ask you this. Do you have a product up and selling right now, or are you still in the evaluation process?

I'm still in the evaluation process. I do some affiliate stuff, but I don't have my own product.

Okay, that's a great sign. And this is a great question, because people who buy affiliate products are also going to buy whatever products have your name on it, too. So if you've got a blog, if you have a podcast, if you have a YouTube channel, if you have a website that sells things, whatever you're selling as an affiliate, it's time to go release your own product in that exact same space. Or at least ask who's buying these affiliate products and how do I get as many of those same people as possible? So do you have a specific demographic that you're serving when you're selling affiliate products?

Not right now. I don't cater to any certain demographic I kind of would like to include. Maybe cater to, you know, maybe my own demographic, which is kind of like, you know, like middle aged, younger male. So, you know, maybe like 25 to 45 each area.

So I, I think that's, that's often a good place to default to, meaning there's no one else within your sphere and you're evaluating between a couple of different problems. Products choose the one that's most likely to appeal to you and your own demographic. But who is already buying the affiliate products that you sell.

I mean, it really varies.

I'm not really picky about what I promote.

Okay, what is. What is. What is your best selling affiliate product right now?

It's a dating product for men.

Great. So the question would then be what products do men who are looking to date by? And you could say men. And I'm assuming we're talking about straight single men, and we're not looking at married men looking for same sex hookups, which would be a completely different market. I'm just gonna assume for a second we're talking about straight single men who are looking to date females. What else do they buy? Do they buy fitness products because they think that getting in shape is going to make them more attractive? Do they buy make money products because being rich makes it easier to date in their mind? Do they buy products on persuasion or business? Do they buy clothes because they're looking to up their fashion? Are they looking for pickup lines? Right, so there's a money angle to this. There's a physical product angle to this. There's a status angle to this. So all of these markets would serve the exact same demographic. So you've got your person. The question is, how do you want to serve that person? And that's a question about what assets do you have and how can you best help that person get to the goal that they want a way that's better than all the other people who are serving that same demographic? Does that make sense?

It does, Ryan.

It does.

Thank you.

We have a. We have a brain gasm on our hands, Everybody.

Daniel.

That'S. Dr. Clement gave us the brain gasm. Daniel, anything else we can do for you?

No, not right now. Ryan, I appreciate you.

All right, good luck to you, man. Keep us posted on your progress. Thanks, Daniel.

I think, like, Russell Brunson also has a. In Expert Secrets, he also talks a lot about how to define in a. An audience that is really passionate about a certain area and determining, like, if people are talking about. About, like, you know, they're passionate if they. They keep on talking about the subject.

And so he. He provides a few clues, I think, in that regard of what a good audience looks like. Because obviously you want an audience that talks about your stuff.

Mm. Do you remember what that criteria was?

I don't. Candidly. I. I think. I think what he did was.

I think you provided, like, if.

An audience has groups, Facebook groups or chat sites devoted around that topic, it's suggestive that.

It'S a viable audience because a big part. And you talk about this as well, is a big part of selling product is going to where your audience hang there. And for us, yup, it's on Amazon for pretty much everybody. But there are also other places.

Yeah, Amazon is like the last stage of the buying cycle. And there are other fish swimming around in other pools where you can drop your bait and bring them over into Amazon.

What do you think of the Bordeaux? Bordeaux?

It's wine.

I have that drunk neck thing where you're like, your neck feels kind of heavy. You know that feeling?

I don't.

Well, any better. Keep drinking your Bordeaux.

You better hurry up. Hurry up. Dr. Juan.

Hey, who we calling?

You got Brianna on the phone.

Let's go. Who we. Who we calling? Who we dialing?

Let's go. I'm going to give him the phone.

So he doesn't make the neighbors.

Let's go. All the neighbors are like.

Brianna, how's it going, girl?

Hi, Ryan.

Hey. Great. How are you? Don't forget about Dr. Clement. Oh, hello, Dr. Clement.

What's a pleasure.

Hi.

So multifaceted in all of your specialties, apparently.

Yes.

Well, Brianna, what can we do for you?

Well, I am curious about what successful businessmen like you look for in new entrepreneurs that they may want to either partner with their business, invest in their, mentor them, because they haven't necessarily built up quite an online presence yet or quite gotten ramped up in sales, but what characteristics are looking for in people that they kind of want to help along the way and take with them?

I'm not going to lie, Dr. Clement. I really thought she was going to say, what do you successful businessmen look for in women? And I was like, best question of the night.

So funny question about this, Brianna.

I probably. I pro. I probably will. But the. You know what's interesting, Brianna, is this happened to me. What is today, Dr. Clement, as a gynecologist? What day is it?

It's Thursday.

Today's Thursday. No, no, no, no. It's Wednesday. You were so wrong on that. Yes, the Bordeaux has kicked in finally. So it happened today, actually, Brianna. So I. I had a conversation today. I was on someone's podcast, and they got in touch with me because.

They messaged me. I didn't respond, so they messaged one of my friends who didn't respond. So they found the friend of the friend who got in touch with the friend who got in touch with me. So earlier today, we had Santiago on wine with Wyan, who did the exact same thing, who just hustled his way into getting in touch with me. Right. They Just found a way in, a cool and ethical way to get in touch with me. Now that is not what I'm going for here. I'm just looking. That's an indication of hustle right there. Now the person that I was on the podcast with is sitting there telling me about how he's releasing products to a very specific audience and how he did the exact same thing of getting in touch with the. These influencers. Couldn't get in touch with them. Found a way to get in touch with them, messaged them until they responded. Until he had Equity deals with 2 million eyeballs meaning enough influencers in that vertical in that space to where he now had an equity deal on the table with 2 million eyeballs. So influencers. One influencer had 500,000 followers. Another influencer had 400,000 followers. 000 followers. Another had a million followers. Total about 2 million followers between those three influencers. And he had an equity deal on the table. He had two products. Identified enough capital to do a first order and that was it. That's the kind of guy that I'm going. I want to back this person because they've shown that they can hustle in multiple ways to create relationships. This person is an action taker and he has some. Some sort of proof of concept. The proof of concept isn't necessarily in the product but he has distribution lined up and my capital is going to be a lot is going to allow him to go faster. A lot of people are sitting and waiting on the sidelines waiting for money to float down in the air thinking that a mentor or capital is going to solve all their problems. But a mentor or capital can only make things that are already in motion go. Go faster. So I'm looking for the green button that says if I push this, if I push this person, if I push this resource, if I throw money at this, it's going to move faster. It's that idea of if you're pushing a boulder down a hill you can steer it, make it go faster. But it's really hard to get a boulder moving from a dead stop. So I'm looking for someone who's in motion who has something lined up. And that by me getting involved I can make it happen faster.

Got it.

She got it. Okay.

So what do you look for in women?

That's a great. That's a great question.

You know what? I look for a pulse.

That's the first sign.

Yeah.

That's the first sign. That's. I won't. I won't date anyone who does who is. Who is not breathing.

That is very wise.

Yeah, I just find those relationships, they're very one sided. The conversations have no depth when they don't have pulses. Right? Yeah. I mean, the depth maximum is like six feet. Goes like six feet.

Have some rewind.

Brianna, I like your style.

Well, thank you, Ryan. I like yours as well. All right, I'll work on my audience.

Sounds great. I'll see you on Instagram.

Perfect. See you then. Bye.

Did we just talk about dating dead people?

We did not. For the record, we did not.

As a doctor, as a heart doctor who brings people back from the dead, what do you look for in women?

Friendships.

Well played, Dr. Clement. Oh, I spilled broccoli all over myself.

I didn't know you could do that.

Deacon Bradley's in the house, everybody.

Hey, Deacon.

Hey, Deacon. Hey. Shawn Adams. Good. Oh, Shawna Adams brings up a good point. This should be over 18. Over 18 and a pulse. We're getting more narrow. We're helping me identify my target market.

You know? So I'll tell you what, my personal trainer, he's like, you know, he. He wins awards for biggest bro in Austin. Okay. He's like, yo, bro, how do you filter out the gold diggers, man? I was like, I don't know. I don't. I'm not attracted to gold diggers. Like, and gold diggers aren't attracted to me. Like.

There'S like a certain sense that you have about women that you just. Or people in general that you just don't want to be around. I don't know how to quantify that to identify my target market.

I think it's because you're not flexing really hard. You know what I mean? Like, you. You don't dress like a millionaire or present yourself as such.

But I don't want to. Yeah, you don't attract those.

You don't attract them.

Like, I'm just a. I'm just a dude. And a Ron Burgundy shirt.

And a Ron.

I'm just a dude in a Ron Burgundy shirt. That's it. All right. Who we calling? All right, we have Eric Payne. Eric came to capcon. Eric. Eric Payne is in the house. Everybody.

We're friends.

What is up? Ryan Van Moran.

I am he. And don't forget about Dr. Juan.

Dr. Clement. Dr. Clement is a longtime friend of mine. We started Amazon together.

And Eric.

Wait, you two started Amazon? What? Breaking news.

Yes, we all. We. We joined the wrong group together and both started Amazon.

You guys started Amazon? Wow. What was the Internet like back in 1999. When you started Amazon together, we, we.

Both tuned Mr. Bezos and he took great notes, mostly to Dr. Clement, but.

Personally to myself makes it makes total sense. What's going on?

Eric Payne, hey man, quick question for you. So I've always been interested in the Income Store and you said recently that you had the largest amount of your assets current there, about a million dollars among your investments. And I've also talked to Ron Possum, we were on about a three hour call just the other day and he had some Income Store investments as well. And I've got 17 rental units and that's kind of my long term.

Asset allocation, but I'm really interested in that. And so.

The meeting, I guess the Income Store kind of offers an 18 to 24% return in most cases, which is a nice return. And real estate, if done right, you're going to get around 12%. And real estate is very long term and very sustainable. And so I'm trying to commence myself to, to go for the higher return, which is a more volatile asset. And you've done that. So how do you kind of compare real estate or other investments versus the higher return that you get in an asset such as income score properties that are completely passive.

So there's absolutely no way that I could legally get in trouble for answering this question.

First off, Eric, you should be selling your house in moving to Austin.

As you have considered in the past.

Working with a broker to sell the business actually.

All right, so Eric, Eric Payne, you appear to have made Dr. Clement very happy by just agreeing to move to Austin, Texas. But this is the way, this is the way that I'll answer that.

Real estate is a business.

Income producing websites are a business.

Any investment is only as good as the business behind it. I am a terrible real estate business owner. I don't want to be in it. It's not the business that I am interested in anymore. I make my money on the Internet and I invest it into other people who are into other businesses. Passive income does not exist. It doesn't exist in websites, it doesn't exist in real estate. It is all down to people. So if you have a strategic advantage in real estate because you own a certain part of your.

Your location.

Go all in on that unique advantage if you don't give your money to people who have unique advantages elsewhere. I have a large allocation in income producing websites because of the tax write offs and yes, there's significant amount of cash flow associated with that as well. But I went through an exit a year ago and I wanted to protect as much of that from Uncle Sam as possible, which means that.

I wanted to maximize my write off at that time in that moment of my life. Now there was a time in my life when it made sense to scour the market and to buy up single family residences as fast as I could, move funds around, pay cash for them. Like there was a time that it made sense. Right now it doesn't make sense for two reasons. One, my time is better spent elsewhere and number two, valuations on single family houses are way too high. Right now I'm in sell sales mode. The best Realtor in Ohio, Ben Murphy is, is watching right now and I'm throwing every property at him saying sell this thing. Right. Cuz. Because valuations are so high. And I'm going to take that and put that into other places because I don't have a strategic advantage in that asset class. Dr. Clement, you look like you want to clarify.

Well, Ben says your disinterest in real estate breaks his heart.

Yeah, but he'll be okay. He'll be okay. This is sell on my properties like a madman, doing a great job. I'm not, but I'm not buying anything right now. Right. Like the yield in real estate just doesn't make sense. Sense right now to be a buyer, it makes sense to be a seller. But so I'm, I'm basically arbitraging yield right now. Which is back to your question, Eric, how I'm justifying one asset class for another because I'm looking at yield going. The yield on real estate isn't going to make sense for a long time in this market. So it doesn't make sense for me to allocate my own time in this asset class.

Yeah, that makes sense. I'm waiting for a market correction to deploy cash into real estate as well.

So in the meantime I'm getting write offs, I'm getting depreciation and I'm getting cash flow from other asset classes like real estate syndications, like dividend paying stock stock, like income producing websites. But I personally don't have it in buying my own single family real estate. So I'm not buying anything in that asset sector right now.

Yeah, that makes sense.

Makes sense. Cool.

Yeah.

What are you moving to Austin?

Tell Dr. Clement. They put some more pressure on me. I divorced last year and I'm about to sell my business and be worth $3 million and do whatever I want.

So another, another millionaire made Dr. Clement.

He's been suggesting that he might move to Austin for a while. So Hopefully. Hopefully he does.

He's the best city in America. All right, Eric, good to chat with you.

Indeed. You too. Thanks, Ryan.

Yeah. The mysterious hand tries the Jacobson salt, and he says out loud, this really is a goat.

Oh, yeah, that's good. But he's doing the black.

The.

The black pepper one.

Yes.

So good. Feels so right.

All right, who we got next?

Let's see if Chandra Ray and her husband answered. What was your anchorman? What was your what to anchorman? I'm not sure I can make my top, my shirt speak. Tyler, what was your favorite wine of the three.

If it weren't vinegar, I would probably like District 7. Although the first one wasn't bad either.

I think.

Casson.

How do you say this in French?

Casson.

Casson.

I think this was freaking delicious. This is staying in the repertoire for sure. For damn sure.

Tom Twamley is talking to someone named Nino. Oh, I must have missed. Oh, hi, Nino in Greenville, Texas. I thought he was calling me Nino. Like, is. Is that a new nickname? Gonna start saying an email as Ryan. Nino Moran.

What do you got? Who you chatting with?

Can you hear me? I can hear you just fine.

Hey, here's a good question.

You got it. No, you got it. Go ahead. See money. Go ahead.

Christina Branscome asks, how are you single? You're funny, smart, with a great personality.

This is a can of worms I shouldn't open while I've had, like, six glasses of wine. I'm just gonna have you stop talking right now. See Money. I'm just gonna. I'm just gonna. Here, hold on. Have some vinegar. You go ahead and throw that back. All right, let's not let my complicated relationship status. Status. Let's. It's not. Let's. That's just. No. Wow. I'm visibly uncomfortable.

I'm visibly uncomfortable. How am I single? Okay, hold on. How do I dodge this question and look. Make it look like I answered all at the same time?

I am skeptical. I'm skeptical about. Whoa. Jonathan Sears is on the line. What's up, Jonathan? Good to see you, dude. Congratulations on your pending nuptials, which is really good.

Let's talk about your view on marriage now.

Yeah, so that's actually where I'm going here. Okay, So I am. I am skeptical about.

The traditional relationship structure, and yet I desire it at the same time.

In a weird way.

I grew up with the. I went to school to be a pastor.

You know, the idea that you're with one person, you wait to meet that one person. See, money. Is laughing at me because he doesn't usually see me get this uncomfortable.

And at 26, I found out I was going to be a dad. And that changed things. And so as a result, it just. Like I questioned religion in my 20s, I questioned the 9 to 5 job. I'm. I question the structure of marriage as is. This is the model we follow right now. The best model. And maybe I'm completely just misleading myself because I'm afraid to get. I. I have a set of issues. Right. We all do. But I think the traditional love story happens, but it's rare. And.

I think we're probably right for a re. Exploration of what that structure looks like. I am not married. Ha. To how that needs to play itself out. I just know that there's no. There's no one that has.

Entered my life where that structure has made sense. Mostly because one of us exits the relationship. Right. I don't know that we're wired to be with one person forever. I could be totally wrong. I'm open to being wrong. Sometimes I want to be wrong. But overall it just. I think one model for everybody is a bit of a pipe dream. And I'm exploring what that looks like for me. And I don't know how that's gonna end up. I really don't know. And I'm totally cool not knowing. I am. I am so not attached to what my relationship status is. I am so not. I am. I so don't need my relationship status status to look like any one way. I'm. I am not. Like I don't have any need to be with one person or to be alone or to be in a bunch of open relationships. I don't. I don't have any attachment to what my relationships are. I. I more desire the freedom to connect with friends, relationships, romantic partners in a way that feels authentic way when they show up. And that's where I am right now. And I'm totally cool with that changing too. So that's how I am. Single, despite being. What were the adjectives that were used? Would you say this again? Were they handsome? Smart? Funny, Intellectual? Suave? Well, well dressed? Muscular.

Well, obviously that was a lie then.

The well dressed one. Yeah.

When you got to that.

Yeah, I was stretching. I should have stopped at muscular, handsome, Funny, Successful. Shouldn't have thrown in well dressed. That was. That was the key. That everybody knew I was exaggerating.

He's got too many options. Have you heard of the incel.

Community? The what?

Involuntary celibates.

There are people who are involuntary. That's so sad. Tyler, can I. Can I bug you you for this? I'm gonna pass out from dehydration.

Yes, please.

People who are identifying as incels.

Did you just feel uncomfortable asking somebody to fill your water for you? No, you'll.

But yeah, I mean, you know, one of these self identified incels will probably take whatever they can get and be happy, you know.

I am. I'm not one of those, as far as I know. I don't know. I recently found out that I'm a cisgender demisexual.

Yep. Everyone. I'm coming out publicly. I recently found out that I'm a. I'm a cisgender demisexual. I have no idea. I feel so much freer since identifying the fact that I'm a cisgender demisexual. If you were to define that in English. If I were to define that in English. English first. I would. I don't mean to offend anyone, so I would ask someone to say it in French. Thanks, Tyler. Cisgender means you are a gender that identifies as the same biological gender. Okay, so I am a biological male who identifies as a male. It's called cisgender. I didn't know this. I honestly didn't know this like a.

Decade ago, by the way.

You learned this a decade ago?

Yeah, I was working in reproductive health.

You know, I did not know this about. You see, money and then a demisexual is someone who is, I think, forgive me if I'm butchering it. Not interested in sex until there is a emotional connection, which I thought was just called normal.

I thought anyway, that like I personally have no interest in. In sex until there's some sort of an emotional connection. Apparently that's not called normal. It's called demisexual. Who knew? So I'm a cisgender demisexual. I feel so much freer now.

Congratulations.

Thank you. Thank you. It feels good to be out.

Yeah, no doubt.

Is there anyone we haven't defended yet tonight? Just put. All right, do me a favor. Put your in the. Will Henderson's on the line. Hey, Will Henderson. The person that I want to be when I grow up is Will Henderson. No freaking joke. Can't wait to see in August, dude. All right, so if we haven't offended you, please say not offended and the comments. And then tell us about something about yourself so we can talk about it. So we can find a way to hashtag trigger you.

Yeah, there's a delay. Don't worry. Well, if no one answers, we've done your Job. And everyone's offended. Dunzo. Okay, Amanda.

Maya says I'm not offended. And I'm Mormon. Fire away. I love Mormons. I've never met a Mormon I did not like. I have also never met anything. I've never discovered anything the Mormons believe that I did like, but I've never met a Mormon person that I liked because they're totally cool, making fun of themselves. It's like, I had a. I had a team member for a while named Tyler, worked with me for, like, three years. And during the 2012 election, we're like, hey, Tyler, what you up to? And he's like, oh, just creating an altar to Mitt Romney. You know, us Mormons just dance around a fire singing songs and Mitt Romney. I was like, I love you. I didn't even prompt you. And I. I just. I just think Mormons are the best people. They're just great.

Because, you know, they believe weird things and they know it, and they're totally cool with it. They're like, yeah, you want to see my magic underwear? I'll show you my magic underwear. Here's my magic underwear. I earned this by reciting the things on the golden tablets that floated up into heaven. Do you have any idea what I'm talking about?

I have no idea.

They don't have Mormonism in Hong Kong. Canada. French Canadian. Bordeaux.

You know, I met the guy who wrote the Book of Mormon. Trey Parker. No, different one. He also wrote Avenue Q. Is that a different one? Yeah, yeah. He. He said. He said some very uncomfortable things to me.

That's a story for another day. You know, I did not. I did not see the comments when we were talking about.

Relationship structures. That's such an interesting conversation. And we never addressed the comments. What came up?

Doctor Clement, what do you think about relationship? As a. As a certified psychotherapist, what is your opinion on relationship structures? Like this? This is obviously an area, like, I'm exploring right now. Like, I feel totally at peace with my faith and my religious beliefs at this point about, like, all other areas that I have explored. This is the piece that I'm like, I'm not so sure how this is gonna fall at this point.

I think if I've seen one good argument that marriages should be up to seven year, and so you have to either renew it or it just expires naturally. And I think, like, totally agree.

Like, totally get it.

Anyway, I think relationships, when you get into marriage, part of the reason they don't last is because there's certain amount of Complacency. And if you, if you're married or like you're dating, I think that changes the, the dynamic.

What do you mean? If you're married, like you're dating, like you don't know that it's going to be forever. Yeah, totally.

That being said, like, I think you bring out other issues with respect to, well.

Do you believe in monogamy? Do you believe in.

Or polyamorous relationships or like all these other things which are. I'm a bit more of a romantic. I think I'm, I believe more in.

Monogamy and like, hey, Chris, we got a flashing red light. What does that mean?

Getting kind of low on battery.

Okay. I'm getting low on battery or it's getting low.

It is.

Okay. So you kind of believe it. You, you, your romanticness is you want there to be one person.

I do.

No pun intended.

That's going in the clip reel.

DeAndre says relationships are better when the two can come together and actually communicate without judgment or condemnation. Expectations are a killer. True. Just be free and inbox yourself. I don't understand that part.

Triggered light.

Triggered lights on. Brianna says, like the black mirror episode where they had the relationship timers, that was a wild concept. I don't know what black mirror is or what a relationship timer is, so I. You don't know. You're looking at me like you're crazy.

Cuz I don't know what black mirror is. It's like.

Yeah.

It's a popular show.

Is it? Yeah. I have a confession and I'm.

I'm only admitting this because I'm drunk.

I have not watched the last two seasons of Survivor.

Oh, my God.

Wow. Yeah. Guys, I've never, I had never missed an episode of Survivor.

Boy, I realize you're Survivor boy. Survivor boy 13.

Listen, 35. 35 seasons of Survivor. I never missed a damn episode. Never ever. You're not even 35 that they have two a year. I've been watching since I was 12. Since I was 12. I have never missed an episode of Survivor.

18 years I've been watching the show. Haven't watched it in two seasons. If that is not evidence.

I have Survivor shirts from every season that in high school I wore every Thursday to remind my peers that Survivor was on. That's how much I love Survivor. Haven't watched seasons because that's just a sign. If that's not a sign that TV is on its way out, I don't know. It is. I, I feel bad about it. Like, I feel, I feel I have a lot of TV to make up watching because I, I have to honor my own self image of watching Survivor. Ow. I. Ow. Hit my elbow. That's what I get for Jeff Pros. The gods of Jeff Probst just hit me in the elbow and that hurt. Ow. I'm sorry.

Are you caught up on Game of Thrones?

I think so. There hasn't been a season in a year. Right.

Yeah, I.

I'm definitely not caught up on Game of Thrones.

Okay. I'm not caught up on Survivor and it's a problem.

What's up, Jim? Good to see you, dude. Jim, just comments. Richard Hatch, is he on the show again? Because that would be amazing. Last I heard he couldn't get a visa because he's an ex felon.

Brianna says you had a great point about relationships in your garage YouTube video. I said, well, in that video I said, I was like, here are my garage relationships at your highest form of ROI is basically what I said. I've been, I've been chat with. With Tai Lopez's team a lot this week, by the way. They're up to some. They're such an interesting. Like, they're so high, Ty. They're such an interesting company over there. You can't help but be fascinated. Clement. My phone is being used to stream YouTube right now. What's going on on your phone?

Nothing at all.

Nothing. You are lying. You are lying. There are always interesting things going on on Clement's phone and I know because he does this.

I have no idea what you're talking about.

Takes a lot to get a doctor distracted by his phone to. What? What's going on in the world of Clement's phone?

All right.

Sadly, nothing on.

Hell. Mendez says I like Proverbs 19:14. He who finds a wife finds what is good and receives favor from the Lord. Well, I guess neither of us have found what is good, Dr. Clement.

It's not too late. That is true.

That is the right money. It's not too late. We're still. We're still breathing. We can find what is good.

Perry Madison. Richard Hatch died last year. No, he did not. Somebody Google that quick. Did Richard Hatch. There's no way Richard Hatch died and I missed it. There is absolutely no way.

No way. What? When did Richard Hatch die? What? What? No. I do not believe this. This is a conspiracy.

I would have seen this.

What are you, a Battlestar Galactica guy?

I am not a Battlestar Galactic guy. What does that have to do with anything? Thank you, Richard Hatch. No, no, no. I Need to Richard Hatch. Pull this up. Pull it. I need to see this.

Oh, Will Henderson. Thank God. Will Henderson saves the day again. It's a different Richard Hatch, not the Survivor one. Will Henderson, you are once again my most favorite person on the planet. Oh, my goodness. My heart's beating like 160 beats a minute. Oh, my goodness. Richard Hatch from Survivor. I'm so glad you're still alive. Tag Richard Hatch. She's got to have a fan page. Tag them in the replay, everybody. Oh, my.

Oh my goodness. It's gonna be okay. Season one winner of Survivor, Richard Hatch.

I am so happy for you.

Oh my goodness.

Who we gonna call?

Oh, we have someone on the phone right now. All right, who we chatting with? Tyler? Richard. Tell me it's Richard Hatch. I'd be so happy. This is Chandra. Chandra, Chandra Ray, I assume.

Chandra. What's going on?

Just sitting here waiting.

Well, wait no longer. Here I am.

This is the part where you stop talking to your computer and you talk to me.

Right? Yeah. You and me. Let's do this together, Chandra.

Okay, so I have my husband here with me. His name is Jason.

Hi, Jason. Ray. By the way, are either of you related to Carly Ray Jepsen?

I don't think that's how it is.

No, it's not. It's not. Not it. That's not how names work. Okay, got it. Go ahead.

Oh, Brian, everything epic love, everything about it. Here is the quick, fast. We have our brand, we sell our supplies. The FDA on Amazon. We've been up for two and a half years. Our first product is doing about five sales a day. We're stage one. We're past 50 reviews, but we cannot hit the consistent sales every day. I just left the job to come home full time and get this to a million dollars. All right, question would be, what would be the three specific things you would suggest that we invest our time in to double down on this business and take it, take our whole brain to the next level?

Great question. Alright, so number one, if you're taking five sales a day, I'm going to went all in on those five customers that are coming in every day. So are you killing them with kindness? Are you going out and contacting them personally or through customer service to find out about their experience, getting as much feedback as humanly possible, making them raving fans of the brand so they're more likely to leave reviews. That's number one. Number two, do you have an audience or let's just call it a test group. Do you have a hundred people oh, no. We just went offline. Hold on. I'm gonna hold this gold. I'm gonna hold this gold until there's a new battery.

We're hanging.

We're hanging.

Wow.

Yeah.

Rewind about 15 seconds.

I'm gonna rewind about 15 seconds. And are we all. Are we. Are we coming back? You should be back.

It says no signature signal.

Oh, my goodness. Stand by. We're still at no signal. Stand by, Jason. I'm gonna make this worth it. Amy Hall. Amy Hall's freaking out. All right, here we go. All right, number two. Do you have some sort of. I usually call it an audience, but to make it simple, let's just call it a test group. Do you have a hundred people in a Facebook group, on an email. Email list, in a Facebook messenger list? A hundred people who will give you feedback on new products, new product ideas, new product releases? Because those hundred people, when they buy, you can treat that as a launch list, get them to buy at a discount and leave reviews because they're so passionate about the fact that they just gave you feedback and you're going to use them for your market data to release new products. 100 people is the minimum, but 100 people will also have momentum to get a product from zero to selling consistently. So that's one and two. Number three, I'm gonna say, is your product good enough for you to go to outside influencers to get them excited about your product, to talk about you? Not necessarily because you just did a shout out on Instagram, but because you're courting a relationship with them over the long term to the point where they're going to become raving fans of your product and your business. And I'll throw in a bonus. Number four, go hard on Amazon pay per click. It's still underpriced, and it's still an opportunity for you to push new products as long as you have that minimum 50 reviews. Clement, you want to disagree with me on something?

I'm not sure about Amazon, because pvc, I think.

Is that where you want to disagree with me? I thought you wanted to screw with me earlier in the rant.

No, I.

That.

That's probably, like. That's the first part. I. I'm not sure. Like, I think it really depends on your category as far as. And the pricing, and you'll know yourself. I think there's. I think a lot of people don't know how to optimize Amazon ppc. I think.

I think in terms of a. If we're valuating it on cost of sale. Amazon is not underpriced. If we're looking at it in terms of cost of attention, Amazon is still underpriced because you can still bowl your way to the top of Amazon just by paying for it. And that's valuable real estate, in my opinion, when you've got a new product that you're still pushing to collective awareness. Go ahead, Jason.

Yeah, that's where. That's where I'm kind of stuck. We want. We sell art supplies. My wife took our email list from 46 to 460.

Good, good.

My question is, do I buy Brand Builder Boot Camp? Do I throw all the money into a Kickstarter? Do I just come. We're on our way to capital in December. The question is, I'm all in with time, and if we need the money, I just need to do the right thing. That's why I'm leaning on you.

All right, so, Jason, here. Here's what I say. Absolutely, you should buy everything that I have in the marketplace. You should absolutely give me. I mean, whatever you. Whatever limit you've got on your credit card, that's what you should pay us. But you should come to Brand Builder Summit in August. And spoiler alert, we haven't announced this ever. Capcom's in January this year. Boom. Sauce. Oh, my goodness. Bomb dropped. Mike dropped. Surprise. Spoiler alert, 2019, January. Anyway, Jason, where's it gonna be? We haven't really. I'm not gonna. I'm not gonna drop two bombs. Don't try and squeeze this out of me. All right, Jason, so you should come to Brand Builder Summit in August and be around other sellers and physical product owners. But where you should be deploying your cow capital is in. First of all. However, you're growing your audience from 40 to 400 in the last two weeks. Great. Go do more of that. Go put more products and more feedback in front of those people. Get as much feedback from them as possible. Send them to your products, have a hit list of at least five additional products that you plan to release over the next year to 18 months. And if you can put prove that a hundred people will buy that when it hits the marketplace and you can turn them into reviews, you now have a machine to release new products, and that will be enough to get you out of the grind, to get every product to 20 sales a day. That's your goal. You are begging, borrowing, and stealing until you are at 20 to 25 sales a day. Then you're releasing product two and three and four, and that's where you're growing this to million dollar business.

Got it.

Got it.

I like. I like you guys already.

All right, all right. Thanks, guys.

All right, Talk to you soon. Did he just call me wino?

Did he just call me, like, why, you know, like why, you know, like wine? Is that what just happened.

Man? I have to pee. I'm gonna. I'm gonna see how. When I can't hold it anymore, that's when the live stream ends.

Not gonna lie. I have to pee as well.

Whoa. Contest. Begone. There it goes. I'll drink more than you and hold it longer than you.

I don't want to play. I immediately regret. That was a drunk decision. That was. I regret this immediately. Shouldn't have had so much salt.

I love this. Deandre Koven says all the advice you're giving them and taking notes, that's the formula, people. That's how million dollar businesses are built.

I'm a little disappointed in the energy from this side of the room. Like, we had one guy quit on us already. Here I was, ready to offer him a job and he quit.

He would love me for the show.

Apparently not. He's not here anymore.

He just didn't know it was gonna go on so long.

Oh, he called me Rhino. That was it. Rhino. You know, that was my first ever nickname was Rhino. Hi. 21. Who's 21? Or is that an ASL thing? Age, sex, location, like. Like AOL instant messenger back in 2002.

21. Coming from London. Is there any events in the UK where I can suggest. Where I can network and get advice or something? Suggest bbb. I don't quite understand the question. I'm too drunk. This Bordeaux is really good. No, this isn't the Bordeaux. This Tosca. This is really good. I'm very. I'm very impressed with this wine. Good job. Trader Joe's, Costco. Trader Joe's Battle 2018. On the quality of wine, I'm very pleased with this casson blend from 2011.

Syrah.

It's a Sarah. Yeah, it says 20 Syrah. 80%. How do you say that in French?

This Italian, this Italian blend from 2011, that's like 18 bucks at Trader Joe's is very good. Wow. Very on $18. If you, if you go like above 50. If you, if you go from like, you know, a nine dollar wine to a sixteen wine, that's a substantial, like the, the fifteen to thirty range of wine is like your sweet spot. And after that, it's diminishing returns unless it's cost.

Because it's 8.99 and D7 is the bomb.

Yeah.

As far as value. Like for like. Yes, D7 is. Although this is 18 bucks.

It's.

And I think it's a bigger bottle. Look, if we're going on ounces.

Actually it does. It's. It's a bigger bottle. It's a bigger bottle.

You're pulling for more glass.

Okay.

No 750 milliliters.

And this is 750 milliliters. I don't know. I'm really good at eyeing size. Like this is six inches, right?

Well the bottle is more this heavier.

This is. This is six inches, right?

No comment question for you. All right, hit me. See money.

Amanda Shindell asks, hey Amanda, do you have any marketing strategies for a day spa? I feel like Groupon and all of its spin offs has killed our industry.

Absolutely. So look, day spa, if you are had any sort of a local business you have, there's such a need right now or such an opening or an opportunity for targeted location based ads that are topical to where you are. There are very few local businesses making comments on current events that are happening in your location and tying them back to your business. For example, I grew up in Cleveland, Ohio, right. So right now as we're recording this, the Cavs are in the NBA finals. So if I ran a day spot in Cleveland, Ohio, I would be running ads that were very videos of people reacting at some famous bar. Right. At Melt Bar and grilled in Lakewood, Ohio. People watching the game, freaking out with you there, being like, are you stressed out over the Cavs too? We're running a special on massages Tuesday through Friday. It's our, it's our Calves and seven special. Alright? So doing localized targeted ads, which you can absolutely do on Facebook, you can run localized apps, you can do it on Instagram, you do it on Facebook.

I would absolutely be going after that type of advertising. It's incredibly cheap because nobody is doing it. And we all have local celebrities where we grew up, right? So like we all remember the late night people who advertised in our location and in Cleveland. I could tell you a list of all the local celebrities who just ran late night ads and became local celebrities. Because everybody had one night when they were up late during the week and they saw this dude or girl with their cheap weird ad late at night. We have the same ability right now, except it's cheap, cheaper, it's faster and it's more targeted. And you can do it on Facebook and Instagram and through social media. You can even do it on Twitter. Location based advertising where you're commenting on local events. That's where you should be putting all of your advertising dollars right now. For a day spa or a tanning salon or a restaurant or anything that is targeted as area. How'd we do? See money? Solid.

I'm baseball buddy. I can hit a screwball.

Okay, so we have Lee Hammermeister. I don't believe you. There's no way we have a Hammermeister on the phone. I don't believe you, Lee. Lee, what's your real last name? Because I don't believe that it's Hammermeister.

No, it's actually Hammermeister.

All right, so I already know not to trust you because you're lying to me out of the gate. But what can we do for you, Lee? Not my real name. Hammermeister.

I'm also half Brazilian too, so you just never know.

Half Brazilian? Do you have a sister?

Yeah, that's crazy. You would have never suspected.

So no. No, you don't have a sister, is that what you're saying?

No, I don't have a sister.

Only child.

Wait, what?

Lee, that was funny.

I got that. I got that. No, that was good. That was good.

Okay, so Lee, question for you. Do you like Jacobson Salt Company?

I don't think I've tried it.

It's the fucking goat.

It's the goat.

Yeah, you heard me.

You should like patent that. It's the goat thing, man. You can just see this to describe everything. Just a little DM after that.

It's actually not a bad idea. Good idea.

I mean, if you can plan, you're fired. You could probably get hitch the Goat done too.

You know why I know that's a good idea, Lee? Here's why I know that's a good idea. Because Grant fucking Cardone, who by the way is not the goat, is going to copy that. Like he copies me regularly. And he's gonna try and come out, he's gonna be like, my. My 10x sucks. Or the fucking goat. That's exactly what's gonna happen if we don't patent this or trademark this. Lee Hammer Fist is totally right on this. All right, Lee, what can we do you for?

What? It's stealing ideas from people. He sure is. Go ahead.

Okay, so the American school system produces a lot of workers and it's pretty good, right? But how? We've gotten really close to automating more than 90% of jobs. What are all those other people going to do after that kicks in? And businesses become so efficient that they don't need most of the workers anymore as entrepreneurs. What's our role in fixing that?

I think that is a fantastic question. I'm chomping at the bit to answer this but I've been answering the questions rapid fire tonight so I'm going to punt it over to the doctor. What are you going to do when doctors no longer have jobs and you can't perform colonoscopies anymore?

I dispute the premise because like every, every.

Only a doctor would say I dispute the premise.

Every wave of technology has brought with.

It.

A lot of chaos as far as jobs go. And we've like. In fact the whole definition in the term luddite comes from the fact you have people who were, who were really upset about the. I believe it's cotton mills and, or the cotton harvesters and the, the job displacement there and these people would destroy. I believe it's looms.

I'm sorry, I don't know what a lyddite is and I don't know what a loom is and I just feel dumber within two sentences. I have no idea what we're talking about Anyway.

People keep on losing jobs with new technology and, but we keep on creating more jobs that then we lose. And I think that with, with automation you still get other jobs. The service sector has boomed. Services and experiences become more valuable. Entertainment becomes more valuable. And I think that.

I'm not.

I think people have always worried that eventually we'll lose more jobs than, than we would create. And until that actually happens, I'm not, I'm not going to be as concerned. But even if that's the case, that just means like we're becoming so wealthy and we can produce so much that it probably also means that we have an opportunity to more easily take care of people.

And J. Cargrove says talk about what you did with Aubrey Ryan. Well, I can't disclose as everything that happened with Aubrey, but we had a couple drinks, one thing led to another and I was on Aubrey Marcus's podcast. He released it this week. And what I told him was never before in history. 100% of the time in history, every cre, every new innovation has created more opportunity that it has destroyed one. There has never been an exception. Deception that a new innovation has, has not created more opportunity than it destroyed. Which is why I don't fear AI. What it ultimately does is free up labor capital to go into other areas that will be more productive. And I predict your question was we as entrepreneurs, what do we do? It's our jobs to be as creative as humanly possible and to be creating new things, things well and to serve.

And that's ultimately good entrepreneur serves and creates that value. So it's not creation for the creation sake, right?

Agreed. Agreed. Although I think you will see over the coming decades that creative pursuits probably go up in value. For example, I, I like to tell the example that Esther, my soon to be three year old, will never have to work because she will create a. She'll create a beat on GarageBand that she puts on Spotify that gets $600 a month in royalties and the price of couch surfing and Airbnb will be so democratized that she won't have a house. She'll take her $600 a month and she'll crash $30 a night at this place and then $20 a night at this place and she'll do whatever she wants on the royalties from her Spotify creations that she made in GarageBand. Like creative things that you just put into the marketplace that will create cash flow over time is how people will thrive and have income on a regular basis. And you will have fewer and fewer nine to five jobs because they won't be necessary. Tyler, what are you eating over there? No cow bar. Oh, I love no car bars. Those are. No, no car bars are great. Lee, does that make sense?

Yeah, it makes a lot of sense. I don't know, I just figured that it would happen more all at once just with how AIs are you. Like you got Tesla trucks, trucking, just gone for employment, you've got self check machines and those are just going to become more and more prevalent. I don't know, I've seen it might just be more like just a very shorter time frame rather than a consistent longer thing. I just figured that people would have difficulty adjusting to that. Thinking that a lot of people don't like to learn new tricks.

You're absolutely right that people don't want to learn new tricks. My biggest fear is that we will coddle to people's desire to want to see stay the same. Nothing has ever stayed the same in history. And so it's not our job to make people feel comfortable. It's. It's our job to grow as human beings. And we do people a disservice by removing their incentives to grow and change. So I think our job as entrepreneurs is to serve to create new opportunities and to give people opportunities to grow. And that's what, that's, that's what entrepreneurship has been for. Well, ever since Abraham, who some argue is the first entrepreneur because I said, this is my land, I have property rights. Ever, ever since entrepreneurship has existed, that has been our job. And I don't think that changes with, with automation or AI.

And I think there's a, there's an interesting political question.

Thank you.

There's an interesting political question around it as well because I wonder sometimes. For instance, Trump's success in large part has to do with the fact that he's appealed to a large segment of the population who have felt that they've been left behind. And in these industries where arguably there has been some unfair competition, I come from it come, come to the problem from a fairly like utopian viewpoint that if other countries want to subsidize their goods for us, why not just buy their subsidized goods? But at the same time you have these jobs that it's a very.

What'S the word? It's a viewpoint that is.

Kind of selfish in the sense that there's a large population which is being displaced in their jobs because it happens that these trade deals aren't necessarily fair. And at the same time I see like the interesting thing is Trump is able to renegotiate some of these deals, but at the same time keep trade being fairly liberal. Um, at least, at least that's what it appears is happening.

But I have no idea what you just said, but I'm gonna nod and say that sounded smart. Lee, One thing I'm gonna add to my comments earlier is the, in the events that were afraid of opportunities going away, like when I was in my early 20s, I was like, I can see changes happening really, really quickly and I want to make sure that I'm taken care of forever. So my strategy has always been make as much frickin cash as possible now so that you can invest in the technologies and opportunities that will open up. Because we're in such an interesting period where things are going to explode, that if you can generate cash and invest in the companies that, that are emerging, you will always be taken care of.

Arguably for sure.

Yeah. I don't think I'm scared at all that there won't be enough space for me. I don't know, I'm just a little bit worried about all those people think that it would just push the idea of a universal basic income out. People would think that'd be a good idea because it just gives them another excuse to advocate responsibility from decisions.

You're absolutely right about that. And here's why. It's not necessary necessary, because assuming that automation and AI does reach critical mass the cost of goods will be so damn low that you won't need to have a universal basic, basic income because your Esther's garage band royalties will produce enough for you to be able to live on. The cost of living will fall through the floor if the predictions of AI and automation take place like we see it, across every sector. When automation goes up, prices come down, so the cost of living will go down. And so we, we tend to project what, what's real now into the future. And that's not the case. The change will be dynamic, just like AI's change will be dynamic. And so there will be an inverse relationship to the amount of, of.

Prices to automation. And that has occurred consistently throughout history.

Yeah, I like it. Thank you so much, Ryan.

Lee likes us, Doctor. Thanks, Lee. Appreciate you.

Yeah, man, Take care. Enjoy your wine.

I enjoyed way too much wine.

Well, I, I can't quite think straight because I can't really follow anything you're saying. Are you speaking French?

What did he just say? I studied French in high school.

I said yes in a very high pitched.

I remember, I remember.

I remember.

You know, I could actually probably speak pretty good French if I didn't have two bottles of wine in me.

Well, you haven't.

I really like, I really like the. What is it?

Casson.

I really like the Casson. Good job, Joe. Joe the traitor.

Joe the traitor.

Is a busy guy.

Well, Matthew Turner says Ryan is gone, so I feel like, I feel like there's a good spot for us to wrap things up. Do we need to call one more person or take one more Q A or do, do you feel complete over there, Team?

See, money's got a business question. All right, so hold on. We need it. This is the part of the show where we're done.

We have so much wine in us and so as a result, we can do one more question, but we reserve the right to not answer. Here we go. It's gonna take all our brain power to answer this last question. See money drive it home.

John Hoff asks.

Huh?

I've helped my 12 year old son get his first product on Amazon. He wants to be an entrepreneur like me. What advice would you give my 12 year old son as a successful person yourself?

That's a good question.

It doesn't matter that he's 12 years old.

Correct. Well, well, hold on. I'm gonna slightly disagree.

I don't know why, because I have any brain power left. But hold on.

Your wine glass is empty.

I can't, I can't have any more wine. I Can't do it. All right.

Tom Trombley asks, are you going to let your 12 year old son watch Drunk Ryan? Answer this?

All right, so listen, here's my answer. If, if you're, if you are under 19 years old, you should be swinging for the fences on everything. You have absolutely nothing to lose. When I was in my early 20s, one of the reasons I think that I was successful as fast as I was, and full disclosure, we all have our own junk, right? Like, we all have it. I discount my success as one of my pieces of junk. I don't think I'm all that special. I don't think I'm all that great. I don't think I'm all that particularly smart. Clement sees me more often than pretty much anyone alive and would probably agree with that assessment. I'm a big dork who doesn't know how to dress. Okay, that's good at like a few things. And I got good at optimizing those few things. But anyway, one of the things I did well when I was in my early 20s is I asked myself a question very regular, and it was, what is the biggest risk that I could possibly take right now that would lead me closer to my goals? Like, if I were to go all in on something, which by the way, was how the Capitalism conference was born, I was like, I have a few hundred thousand dollars in retained earnings from my personal brand. What if I just risked it all on a conference and I booked all these speakers to come and if nobody showed up, at least I had like five, three days of hanging out with amazing people that would mentor me. Like, I get to hang out with amazing people for three days. And now we're in year four of planning that because it worked out, right? It was just like, how much can I put? How much can I risk? And I did that until I sold a company last year was just risk everything. Like, double down all the time if you're 12, if you are between the ages of 0 to 19, double down on everything. Like, bet on black.

I'm trying to imagine, like a toddler taking your advice here, but okay.

Oh, Esther, Esther does. For example.

For example, she, she went all in on chasing the cat. Okay. This week. Okay. Fell flat on her face, stubbed her toe, went all in. Went all in. I was proud of her for taking that risk.

Okay.

Yeah, you know, I bought her, I bought her a copy of hello Kitty, Monopoly.

Gotta raise them early.

Yeah, I actually saw that. Did you buy it off ebay or something?

A garage sale.

Okay.

Yeah. $1. Okay. $1.

Okay.

It's a low risk, low risk, high reward on this one. Okay. All right. So go like just double down on everything in front of you if you are, I would even say if you're not yet 25 and just like seriously risk it all. Like you've got time. You have, you have so much time to, to like. And even if you fail, you will learn so much that will have a positive roi. Unless you have a child.

Or a family member to take care of or some other reason that you being broke prevents you from going all in.

Go like all in. Risk everything and that compounds you will. You will learn so much faster than all of your peers.

Dr.

I would agree.

I didn't expect that. Yeah.

Didn'T think so. Ryan, Remy says double down on the binky.

Matthew Turner. What should three year olds be doubling down on right now?

Play.

Ryan says. Ryan doesn't have a 12 year old son as far as he knows. I can verify with absolute certainty that I have no 12 year old sons floating around anywhere. I can verify that with absolute certainty. Absolute certainty.

Go ahead, Clement. Let's go there.

Imagine a few theoreticals. Never mind.

No, go ahead. What possible theoretical.

Can we call Pam?

Absolutely. We can call Pam right now. What is your question for Pam? That I went, I stepped into a time warp and I met her 10 years earlier with absolute certainty.

Wait, how old were we talking?

12.

Oh, okay. Never mind.

A 12 year old son. Okay. Which would mean I would have had to lose my virginity when I was 18, which is about 30 years early.

I lost my virginity last Tuesday.

She did have a pulse.

Oh, thank God. Don't put that in the recording.

I don't want to end on that note.

I don't know how to pivot out of that.

Felt like I was having way more learning lessons and prospering. I'm certain it's coming. Brandon says nap time. I'll miss it one day.

One thing I would add is like the, the research shows that the most successful entrepreneurs are those who are like in their late 30s and 40s and.

Really? Tell me more.

It's, it's. It's a myth that entrepreneurs are the young.

Crazy success like tech startup, 19 year old crazy. Okay, so what do you mean?

I think is the Kaufman Foundation. Kaufman Family foundation, which has done.

Please tell me it's Kaufman K O U F M A N and not C O F F I N Association of old people celebrating entrepreneurs who are about to die. Please tell me it's not the coffin. The coffin Foundation. You could. You could still do it. You could still be successful. I won't have any more wine.

So the Kaufman Foundation, Coffin foundation, whatever. Says what.

Successful entrepreneurs are generally later in life. So 40 and up. And. And whether that's because they've gotten more conditions. Connections. At that point, I.

We won't read any of those comments.

Done. Too.

Yes. And I need to go pee.

All right. Because Clement is set on it being from Costco, but I'm giving the vote to the 2011 Red Blend. How do you say this in French?

Casson.

Casson is my vote tonight. As always. Special thanks to Jacobson Salt company for being the goat. Special thanks to Costco for sponsoring tonight's episode. If you don't like Costco, you suck.

Anybody else we need to thank? Special thanks to Aubrey Marcus.

For your crew. My crew. Right. That's that. Well, now I look.

Except for the one who quit.

Yeah, the guy who quit before I could even offer him a job. Special thanks to the crew for making this happen. Why are we thanking Aubrey Marcus?

And.

And apologies for Tim Ferriss. We ran out of time to feature him tonight.

Thank the socialist.

Yeah, well, we were. Well, Tim Ferriss was going to stop by, and we just ran out of time. Santiago, thanks for watching.

You keep on poking.