Episode 98: Berkshire Hathaway Shareholder Meeting - My Biggest Takeaway

Legacy of Monsters An Apple original series. The world is on fire. I decided to do something about it on November 17th. This place, it's not ours. Believe me, the most massive event of the year arrives. If you come with me, you'll know everything. I promise.

Oh my God. Go, go, go.

Legacy of monsters streaming November 17th only on Apple TV. Plus.

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The whole environment of the city was very cool, great people and yeah, it was fun hanging out with some new friends. Shout out to my boy Mason. Shout out to all the homies like Charlie, John Malott, Patrick Tucker, Tai Lopez. Decided to stop in and and yeah, met a lot of cool people. But today's episode is going to be about my thoughts on the Berkshire Hathaway meeting, what I took away from it and why I recommend you to go because it was definitely a life changing experience. So here we go. This episode is not going to be crazy long. I actually have to do an Instagram live stream in about 40 minutes from the time I'm recording this with my man Drama from Young on Reckless. So yeah, I'm gonna get through this. Let's go. So overall last Friday I got the call and I needed to go to Omaha. So I decided to book my flight to Omaha, Nebraska. And pretty much how this worked. A I am not a shareholder of Berkshire Hathaway. B B my buddy Patrick Tucker decided and was able to hook up all the speakers that spoke at his event with free passes. So I was excited. Definitely was worth it. And just to get right to the point, I believe it was so amazing to see someone like Warren Buffet and Charlie Munger just speaking on stage in front of 40,000 people. And if you've never been to the annual shareholder meeting, pretty much what it is is it's the Berkshire Hathaway shareholder meeting where as you know, Warren Buffett and his business partner Charlie Munger, they have shareholders, right? They're a public company and these are some of the wealthiest people in the world. So for them to take a day to be on stage talking about the annual report of last year's earnings and the future of Berkshire Hathaway and where they stand and where their mind is, it was very cool. And it was sort of a crazy sight because I've been to a lot of different events in terms of like the business community and I've been to events such as 10x Growth Con with 35,000 people and hosted by Grant Cardone. But this was different because it was people who were legitimately invested into a company. And I remember everyone at the beginning of the day was sitting down and the lights went off, the commercial started to play and there comes out Mr. Warren Buffett and Charlie Munger. These two guys are 88 years old and 95 years old. So to see these guys come out on stage and speak for hours and hours, and I'm not saying simple questions, the questions that a lot of these reporters were asking were very in depth questions that required a lot of not only knowledge, but just you had to actually be there. Like, Warren Buffett was completely zoned in for six hours. There was one break in between. But it was super cool to see that. And to get back to the point, the biggest takeaway that I got from this event was one of two things, one being patience. It was hilarious because an 11 year old was able to ask Warren Buffett a question. And pretty much what the 11 year old said was, Warren, my dad has been teaching me the characteristics of delayed gratification. How, how do you learn to like that? And pretty much what Warren said was, overall, life is about patience. Charlie Munger said, I've been able to delay things for a while. He's 95 years old and overall they were just looping back to the point of patience and having patience, especially when it comes to investments and your career. Like these two guys are sitting on stage in front of 40,000 people multi billion dollar net worth and they're there to not only provide value, it's their duty and responsibility as shareholders and owners, but they are so in it, meaning their mindsets, they know what they're doing to the point where they just keep on doing it right. And to go back to my point of patience, it was just super cool to see how alive these two individuals were and how present and hilarious, because literally they were cracking jokes left and right. And my man, Charlie Munger, he was eating peanut brittle while answering these questions. And he would literally answer questions straight to the point, like, straight up. It would be one word answers, and I love that about him. And if you had a chance to go this year or you went to previous years, I know that you can say the same thing as me, because these guys are just so straight up. But it was funny because Drama called me last night and I was like, yo, I'm in Omaha. This is before I got back to Phoenix this morning. And he's like, dude, what's in Omaha? And I told him the Berkshire Hathaway event. They talked about it on group chat, and group chat is dramas podcast where he talks about business news. And, yeah, they were just like, what is it? So I'm here today to just give you my experience because it was my first time. But back to the story. This arena that this event was held in, it had an entire floor of all the companies that either A, Berkshire Hathaway was invested into, or B, they were just huge, I would say, fans of, in a sense, like, whether that's Dairy Queen or whatever it is, it was just very cool to see what they did. And based on my belief, someone told me that Warren, they put on the entire event, they set it up within a week, they get ready for it, and 70,000 people come into town for this event, which is insane. One day, it's like six hours insane. And if you ever get a chance to go, it is 100% worth it. I'm definitely gonna be going next year because here's the thing, and Warren and Charlie said it themselves, they do not know how much longer they will be around, period. And they were talking about this, like, these events. The Berkshire Hathaway shareholder event has been happening every single year since they started the company or since they went public. And for them to say, I don't know what these events will look like when we're not here is very intriguing to me, because they know things will change. And for them to have such an amazing ride, 88 years, 95 years, that's what truly brings me so much joy from being there. Because these guys are cracking jokes. They're one of the most wealthy people in the world, and they're just laughing at each other on stage. They're answering questions, and they'll be cracking jokes, and it was super cool. To see the dynamic between them, and I think that's one of the biggest takeaways, is the way they communicated back and forth to each other. It was unlike anything I've seen before. And the reason I say that is because I value communication. And the way these people communicated, not only with themselves, but with the audience, with the reporters and. And with the people asking questions was amazing. They were straight to the point. They made sure they go in depth on questions that need it, and they keep it simple. When they need to keep it simple, they don't waste time. That was one of the important things I learned, literally. And Tai Lopez said this best. As soon as it hit 1 o' clock PM, that's when they said we would have a lunch break. They were boom, got up, bounced. They know time's valuable. They know every minute counts for them. Then at, what was it, three o', clock, boom, they're back on stage, on point, and they were very precise with their time. So if you're listening right now and you want to know what I learned from Warren Buffett and the precision of time and the precision of questions being answered. So if you're listening right now and you may be struggling with your time management or whatever it is, understand that that's a valuable skill set to learn. But that being said, I have a couple other things that I want to touch on. So my event in Omaha that I spoke at EvolveCon was super cool. Shout out to Patrick Tucker. So pretty much how it worked is it was the same weekend as event Berkshire Hathaway, but it was obviously a different venue, a different crowd. It was about 200 people. At this event. At this event, we had people like Charlie Rocket speak. Tai Lopez decided to show up. And I was speaking on stage, and that's when Tai Lopez got there, and I was talking to him because I was telling this story on stage about how when I was 16 years old, Tai Lopez flew me out to LA for the first time. And that was what really opened my mind to what's possible in terms of the social media reach. Because prior to 2016 or 2017, I never went to California. And the day I got back from this event in San Diego that I spoke at, literally the day before, I DM'd Tai Lopez. He flew me out. But me and Tai, I told him the story again, and I know that he's heard it before, but it's just super cool to see, just like the people that are successful are truly giving, whether that's Tai Lopez or Charlie Jabli or My partners, John Malott, Joshua Denny, the people who are giving and who are willing to serve are the people who win. And the biggest takeaway that I got from the event I spoke at, which is Evolve Con, is just good people like Patrick Tucker. He is an individual that I have so much respect for and he put on an event based around human connection. Because, yes, it may be hard connecting with people at a 40,000 person event, but when there's 200 or 300 or 100 or whatever it is, you can truly get a human connection at that event. And that's what Patrick Tucker did. It was literally an event from it was 3:00' clock in the afternoon to 1:00' clock in the morning. Literally it was all night. Charlie Rocket wrapped up at literally 12 o', clock, 12:30. The event finally ended and it was 1 o' clock in the morning and that was a wrap. And I decided to stay in Omaha another day. So yesterday I actually went golfing in Omaha and it was super cool. For those who have been listening to the podcast for a while, I have never really talked about this, but a huge passion of mine that I've been getting into is golf. I've played since I was like 8 years old. My grandpa was a huge inspiration for that and taught me everything I know about the game. But yeah, I decided to stay in Omaha and play some golf with my buddy Mason, Charlie. We had a whole squad out there and it was fun. First time in Omaha, Berkshire event at the event of ovcon I spoke at, we had some golf going down and yeah, it was a great experience. And just to wrap this podcast up, because I believe sometimes it's good to keep things short and simple and straight to the point. Berkshire Hathaway, Warren Buffett, Charlie Munger. If you have not had a chance to go, I highly recommend it that you go next year because you do not know how much longer these two amazing individuals will be around. That's the main reason I wanted to go this year. Because for someone like me, you that is striving for their business, that is striving to get better. If you understand and even get a glimpse of the thought process of people like Warren Buffett, it will change the way you think. Because they're dominating industries, they're acquiring companies and just creating this entire empire. And they've been doing it for years and years on end and learning from them, just for the five hours that I was at this event this weekend truly changed my perspective in my life. So if there's one thing I want you to walk away with today. It's have patience and specialize, literally. I'm gonna read this out. This is some of the. This is one of the notes that I took from Charlie Munger. He said, nobody wants to go to a doctor that's half dentist, half chiropractor, right? Because they're different. You want specialized doctors, you want people who specialize in their industry. And that's what Charlie Munger did. But that came down to patience and actually learning it. So Warren Buffett also said, read as much as you can. There's less competition when he got started, but he was able to specialize in that space. So that being said, specialize in your niche, specialize in your industry. Start taking the time to learn every single thing you can about what you're doing. And that being said, I just want to say thank you for tuning in to the Rise of Young podcast today. This was an episode that was different. I gave an event recap. And, yeah, it felt good because this event was great. I learned a lot, and I hope you learned a lot from my experience as well. And that being said, I will talk to you guys tomorrow on the Rise of Young podcast. See you soon.

Legacy of Monsters. An Apple original series. The world is on fire. I decided to do something about it on November 17th. This place, it's not ours. Believe me. The most massive event of the year arrives. If you come with me, you'll know everything. I promise.

Oh, my God. Go, go, go.

Monarch. Legacy of Monsters. Streaming November 17th only on Apple TV. Plus.