Trump campaign raises $53M after verdict, ‘Roaring Kitty’ helped GameStop shares jump 30%, & more

Trump, your headline here, the number I would say is wrong. He actually raised $53 million in 24 hours after the guilty verdict of him being a convicted felon. And, you know, what's going to happen here at the end of the day is— what do you think is going to happen here?

I think the negative press, and neither Eric and I are trying to get political here, and we're not trying to say we're going to vote for one candidate or the other, But we're just trying to look at this from a marketing aspect. I think based on the early results of him raising a record amount, right, within 24 hours, that was unheard of before, if I'm not mistaken, at least from the headlines that I read. The site crashed. Yeah. I believe this is going to rally up more people to try to encourage them more to vote for him. I also think it's going to create a bigger divide. You know, people who love him versus people who hate him. It's very polarizing.

Yeah, I think, look, the fact that he's raised so much money, that record amount, means people are voting with their wallets. And so, you know, this was the slippery slope where it's like, oh, our justice system is being weaponized like this, right? And again, we're not going to get into the politics around this, but this is what happens when people feel like things are being You know, people are being treated unfairly, or the system is unfair or unjust, right? What I think is interesting here is, you know, he's got the brand, he's got the charisma, right? And he might be able to carry this forward. And look, I was actually on a bus. We're going to talk about this in a second. But the YPO retreat, and we actually talked about who we think is going to win. So there's like 10 people talking about this. One person believes Biden's going to win. The rest of the 9, even though like some really don't like Trump, some like Dislike him hardcore. And the other 9 were like, oh, they think Trump's gonna win.

So this is YPO Beverly Hills, which means in California, I'm just stating the facts, majority of the group is probably Democratic. Would you agree? Because California is—

I would say most people are centrist and probably— I'd say most people are centrist. I think it's like you and I are centrist too. Yeah, but I would say I'm slightly on the right.

But most people in California vote Democratic.

Correct.

And for 9 out of 10 to believe that it's gonna empower—

Other Democratic people, I would say. Like you have a lot of spouses that are, but they're like, no, it's probably gonna be Trump.

Yeah, I also think that he's gonna win. I don't have any data or anything against it.

Nor are we going to vote either. I'm just speaking for myself. We're in California, right? So even if I vote blue or red, it doesn't matter. It's usually gonna be blue.

I tend to vote, but yes.

Really?

Yeah.

Really?

Yes.

You voted the last one?

Uh, yeah.

Really?

Yeah.

I don't believe you.

Yeah, I really did.

You swear on your life?

I don't swear, but yeah, I would.

Okay, anyway, continue.

So, uh, yeah, no, um, all this is doing is just really causing people to rile up, get angry, uh, at least in his camp, and they're starting to just donate. And from what it looks like, their actions show they don't even care what people vote or what the, you know, government votes or judges were or legal system. They're just like, screw you. We're pushing for him. And here's the kicker. I actually Googled it. If he goes to jail, did you know he could still be a president?

I didn't know that.

Yeah, I didn't know that either.

Look, here's where I think it's gonna go. It's gonna get appealed. It's gonna go to the Supreme Court. It's gonna be like a slap on the wrist. But there's also a marketing side angle from the Democrat side. Now he's a branded felon. And so there's just gonna be like, guys, you can't vote for a felon. This guy might go to jail, right? There's no felon that's ever been— I don't think there's ever been a convicted felon that became a president, right?

But here's the kicker. In 2 weeks, Biden's son goes to court for gun charges during, I think, under substances or buying a gun when he was addicted to drugs.

There's a video of him negotiating with a prostitute. I saw it on Twitter.

Oh, crazy.

Yeah.

So, and, you know, Biden said some remarks, of course, you know.

No one is above the law.

That's what he said?

He tweeted that. No one is above the law. So when Trump was convicted, he tweeted, no one is above the law. And someone took that Biden video, the Hunter Biden video, and then retweeted Joe Biden's thing saying, no one is above the law.

Yes, but if you look at Joe Biden, he made remarks about his son and it wasn't no one's above the law.

What was it?

As a father, he of course cares for him. And I'm trying to find the actual text. I can't find the text just through Googling, but, you know, he said on Hunter, I love our son, and he keeps going on. This is from Axios. But, you know, he's hoping that everything goes all fine and his son doesn't go to jail. Nonetheless, when you think about this, it's just like they're going to use— the other side is going to use, hey, this guy's doing prostitution, drugs, buying guns when he shouldn't be, you know. Like, look at the parents. The parents raised this kid. You're gonna end up voting for him. And the exact quote is, I'm the president, but I'm also a dad. Jill and I love our son, and we are so proud of the man he is today. Hunter's resilience in the face of adversity and strength has brought to his recovery and are inspiring to us. As a president, I don't wanna comment on pending federal cases, but as a dad, I have boundless love for my son, confidence in him, and respect for his strength. So yeah, he's not necessarily saying like, hey, you should acquit him or anything like that. I think he's actually taking the right approach. But nonetheless, they're going to use it against him when it comes to the presidential campaign, just like they will with Trump being a felon.

I think if you're going to do negative marketing, you better make sure you win. And in this case, sure, Trump was branded as a convicted felon. But what's happening is the negative, the negative blowback. You have actually a lot of Democrats saying like, hey, like this shouldn't have been done. This actually breaks our system. And now You have all these people that are going to support Trump even harder, and some people might flip to the other side. Right. And so if you're going to make— you're going to make a bet on negative marketing again, you better make sure you win and you win definitively, because in this case, I think it's actually going to have the negative effect and it's going to get Trump more support. All right, everyone, quick message from the Agency Owners Association. So this is the peer group for agency owners that Neil and I both put together. This is for people that are doing 6 figures, 7 figures, 8 figures, even 9 figures as well. And we're all here to help you grow your agency faster. In this group, we share We share learnings with each other. It's a community where people can ask questions, their most burning questions, personally, professionally. We'll share templates, reports, things like that. We're constantly adding more value to the group. I will tell you that the price is continuing to increase. The good news is that there's no long-term commitment, so you can just learn more by going to marketingschool.io/agency. Once again, that's marketingschool.io/agency to learn more, and we hope to see you inside. Dude, let's talk about, let's talk about GameStop here. So Here, you lead off with it.

Sure. So we're recording this podcast on Monday, June 3rd. On June 2nd, uh, what is it, Something Kitty?

Roaring Kitty.

Roaring Kitty, which is, uh, a Twitter user, put a screenshot of how they have 100 and something—

116 million.

Of GameStop stock.

Yeah.

And, you know, pretty much in Roaring Kitty's way They were trying to showcase this to try to pump it up. And all of a sudden when the stock ended up coming out this morning, I think it was up like 50 or 70%. It's dropped down now to like 20-ish percent.

But the crazy thing is like with all the call options and everything, supposedly his gain is like $792 million or something.

Is it?

Yeah.

It's insane.

He's basically going to be like a billionaire. And they stopped trading on Robinhood. I think a couple of these, um, these, these trading desks were like, no more trading GameStop.

And if you also think about it, this person is probably going to get in trouble with the SEC, if I had to guess.

So I don't know, like, what do you, what do you think? Like, what, why is he going to get in trouble?

He's pumping it up. He's just showing it. It's like when Elon Musk talks about cryptocurrency.

But it's not his business.

Yeah, but he's buying. He's using his influence to pump up the price.

Yeah.

And if he sells or whatnot, there's other people holding the bag. It's just like, why did the SEC go after Reddit for all this WallStreetBets stuff? It's now monitored. And I don't know what the SEC did with Reddit, but they put these restrictions. You think Reddit wanted to put these restrictions?

I bet you didn't. I mean, Reddit was— there's a section like, okay, now we're kind of going into like, you know, law and everything, right? But there was Section 320 or Section 230 or something where if you're a social site, like, you don't get in trouble for the content that's posted.

Yeah, but Reddit has to monitor it now. I'm assuming someone came down or some sort of enforcement came down on him.

Probably. Yeah. So, who knows? I mean, this guy, he wears like a bandana or something or like a headband. And he's just like a dude that he— I don't know enough about this guy. But I think it's fascinating that using— that you can use your influence to pump a stock. And I'm pretty sure this is all going to get cracked down on soon.

Yes. Either they're going to change the laws or they're going to go after this person or other people. But I don't think, you know, people can just do whatever they want for the long run and pump stuff up. The SEC does not like anyone manipulating stock prices.

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Did you see the—

No, I don't know what this is.

So there's this girl named Bethenny—

Yeah, she was on Shark Tank before.

Okay. I don't know her last name.

Frankel.

Yeah. So Bethenny used to be on, I think, The Real Housewives of New York City.

But she's an entrepreneur too, I think.

She's an entrepreneur. She created a skinny vodka company or something like that back in the day.

I don't know.

Let's see, Bethenny Frankel vodka. What is it called? I think it's called Bare Naked Vodka by Skinny Girl. So Skinny Girl Vodka. And, you know, she did well as an entrepreneur. So she tries to go into this Chanel store. And you know what they tell her?

What?

You can't go in, you need an appointment. Now, she's an influencer. But what the heck is the point of having all these shops out there if people can't go in them?

Well, they're trying to establish scarcity, you know?

No, they're trying to Scarcity is one thing, but you also have issues of like criminals and stuff like that. So they don't want just anyone in the store.

Well, where's the shop at?

Where's the what?

Where's the shop at?

New York City.

New York City. Right.

But it's just like, you have to have an appointment to come in. That's kind of crazy. People would just want to come in and buy.

It's like that in Miami too, Design District. You have to have an appointment to go in. And then when you don't, when— and I'm like, dude, come on, there's nobody here. They get upset, but they still let you in.

But they wouldn't let her in. And it looked really bad. She put it on social media. But it was a big backlash for Chanel. It's just like, why wouldn't you let people in? I get it. They got to do things like protect their inventory because of crime. Maybe they want to create scarcity as well. But this is just a pain in the butt. You got stores, why not let people in? Dude, we see it here on Rodeo. A lot of these stores have lines. I don't know if you've noticed that, and ropes, and you got to wait to get into the store.

The Louis store has a line.

I wouldn't know. I don't wear Louis Vuitton.

I don't either, but I'm just saying I drive by it.

Yeah, yeah. There's quite a few stores that have lines.

It's like the Chanel here too.

Yeah. I was with my buddy who came into town last week, really successful hedge fund guy, flew in on a Global 7500. So to give you an idea, that's probably a $70 to $75 million plane. So guy with money, right? He goes— His plane, his plane. He leases them. But even when you're leasing them, it's so expensive. He doesn't travel enough to own, but he charters. It's not like he's spending $500,000 a year on planes. He's spending substantially more, like millions, right? Guy does extremely well. And, um, you know, he could buy a plane. He just looks at it as like, I only take 5 or 6 trips.

No, he uses charter anyway.

Yeah, he only takes 5 or 6 trips a year. So why would he want to own? But he, he gets really nice planes whenever he flies out. So he came to visit and when he was visiting, I remember walked into a watch store. He was looking at Pateks, was looking at Rolexes. And it was funny. It's just like security. They, you have to wait to get in. Are they going to serve you? They're stopping some people. It's such a pain. And it's funny. He has Pateks. He has quite a few of them. He's never worn any of his Pateks, but yes, exclusivity. And I was asking him why he continually buys more Pateks. And he's like, did you know if you own over $5 million worth of watches and stuff, you can collateralize them and borrow against them? I'm like, never knew that.

Yeah, well, you would hope that they hold their value too, which in general they do.

So they, they didn't used to, like they used to claim. And when I first started buying Pateks and stuff like that, you would go into a store, not only did they have them, you can negotiate. So like, I have watches that were $120-something thousand maybe 10 years ago that I picked up for like $70,000, $80,000. Pateks, they would negotiate. Okay. These Pateks are now worth $200,000+.

Yeah. So what changed?

What changed?

You don't usually wear watches. Are you wearing one right now?

I only wear them when I travel. And the main watch I wear is a world time because it has the time for all the major countries and time zones. So I can just quickly see what the time is, you know, in different parts of the world. And that's useful for me because we're in 19 or 20 countries. But the thing that's changed is they make the same amount of watches that they used to make. There's more rich people. So there's scarcity issues. COVID happened, supply issues. So now there's a waitlist, which made these watches even more desirable.

That's specificity again.

Yes. So people just buy them. And when my buddy buys them, I haven't bought watches in, I don't even know how long, but when my buddy buys them, it takes him 6 months to get a watch. I was like, what the heck? It used to be, I would just buy it. You get it right then and there and you can negotiate. That doesn't exist anymore.

You know what's similar to this? So, the Bryan Johnson podcast I did, that's going to come out on Wednesday. So, you know, he has this whole thing about not dying, right? Don't die.

Yeah.

And, you know, he's like dying should be optional. But my thing is like, if you have unlimited money in a casino, you don't take it seriously. When you have unlimited lives in a video game, you don't take it seriously. So, there has to be scarcity, right? Then you take life a lot more seriously when you know it's finite, like our lives, right? You take it a lot more seriously. You want your kids to be safe and everything, right? So scarcity matters. Exclusivity, that's why people take exclusivity seriously too. So look, I think what she did, I mean, that goes back to what we were talking about earlier with the Roaring Kitty, like using your influence. And so in this case, she used the influence to kind of do good by the people and hurt the corporations, right? So that's that. And speaking of influence, we should go on this next one over here that you have.

Well, going back, Before we go over that, you talked about how you're releasing your interview soon, but you just did an interview with Marie Forleo, right?

That was a couple months ago.

Oh, I just saw it on your social media.

Oh yeah, yeah, yeah.

Of B-School. Did you learn anything interesting from that? She's done an amazing job with marketing.

I think she's just been very, very consistent over the years. She's been doing this for like, I think about 20 years or so. And I think she's kept herself really healthy. That's awesome. And she— what I learned is that she's not necessarily trying to reinvent the wheel. She's just staying consistent with her coaching, which is her group coaching thing, which is B-School. And that program's done really well. It's kind of similar to Ramit. He's kind of been doing more or less like, hey, I'm just going to focus on finance content and then finance courses. And that's kind of been her. And then she's learned from like all these, the best coaches in the world, right? So I think there's something to be said about just, hey, tried and true, do it for decades, and no need to try to be cute or anything.

And she still does B-School and is selling well and revenue is good.

Yeah. Yeah.

So just focus.

And she sold like, I want to say I kind of did the math here, like lifetime, I would say on courses, if it adds up like this, maybe it's around $80 million or so.

Wow. Good for her.

But I just did like she said she sold, she had this many students and I just multiplied it by the amount she charges. Yeah. But then I also put a discount on it too, because I'm sure not everyone paid.

And she probably has a lot of affiliates.

Yeah. So that is it for today. Please don't forget to rate, review, subscribe, and also go to marketingschool.io/agency if you're an agency owner and you want to grow faster. So that being said, we'll catch you later.