Chris Gotti Exposes the Truth About Corporate Deals in ‘Hood Business’

Summary

Market Mondays: Episode Summary Title: Chris Gotti Exposes the Truth About Corporate Deals in ‘Hood Business’
Release Date: December 29, 2024
Host/Author: EYL Network

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Introduction

In this compelling episode of Market Mondays, hosted by the EYL Network, stock market expert Ian Dunlap is joined by special guest Chris Gotti. The duo delves deep into the intricate dynamics of ‘Hood Business’, a term that encapsulates the intersection of entrepreneurship within predominantly African American communities and industries traditionally dominated by mainstream corporations. This episode sheds light on the systemic challenges faced by black entrepreneurs, the undervaluation of their contributions, and the broader implications for cultural representation in business deals.

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Defining ‘Hood Business’ and Its Challenges

Chris Gotti opens the discussion by defining ‘Hood Business’ as the entrepreneurial endeavors emerging from the music industry, particularly rap, which he considers the epitome of ‘hood business’. He emphasizes that not all music business falls under this category, highlighting rap music's unique position.

“Rap music is hood business. People don't understand.”
— Chris Gotti [00:50]

Gotti articulates the unique challenges that black businessmen face in this arena, primarily stemming from systemic racism and undervaluation by mainstream corporations. He recounts personal experiences where offers deemed substantial by white counterparts were insultingly low within his community.

“One of the most racist things I dealt with in music was, that's a lot of money. And I'm like, what? That was so offensive to me because it's not a lot for you, Mr. White man, but it's a lot for me coming from where I came from.”
— Chris Gotti [02:10]

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Systemic Undervaluation and Its Consequences

Gotti discusses how mainstream companies, like Nike, fail to recognize the true value of black entrepreneurs and artists. This misvaluation forces many to accept deals that do not reflect their actual worth, thereby stifling their potential growth and setting a limiting precedent in the marketplace.

“They don't even realize how they're lowering your value when they do it, and it's disrespectful.”
— Chris Gotti [03:00]

He draws parallels between the music industry and sports, citing Nike's undervaluation of athletes like Kawhi Leonard, who, despite being hardworking and talented, receive offers that don't align with their true market value.

“So Ferris May never had. They didn't get a deal with Nike yet. They're being stuck based on what Kenny did, what Ruck is getting, what Gersh is getting.”
— Chris Gotti [04:15]

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Clash TV: A New Paradigm in ‘Hood Business’

Introducing Clash TV, Gotti presents it as a revolutionary live-streaming platform that offers a fresh avenue for revenue generation and audience engagement for black entrepreneurs. Unlike traditional platforms, Clash TV aims to provide autonomy and fair valuation to its partners.

“If they don't talk to me, I pass on the deal.”
— Chris Gotti [04:45]

He emphasizes the importance of maintaining integrity and value, stating that accepting subpar deals can permanently limit future opportunities.

“Once you take that low number, you'll never get to the number you're stuck.”
— Chris Gotti [05:20]

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The Debate: Are Stars Born or Made?

Transitioning to a broader discussion, Gotti and Dunlap tackle the age-old question: Are stars born or made? Gotti posits that it's a combination of both, highlighting the ’it factor’ that distinguishes superstars from their peers. He cites examples from music and sports to illustrate how innate talent coupled with relentless hard work culminate in exceptional success.

“They have that effective. But they figured it out from work from time, over time, over time. It happens in sports.”
— Chris Gotti [05:50]

Referencing Kanye West and Jay-Z, Gotti underscores that true stars possess an intrinsic quality that isn't artificially manufactured. In contrast, he notes that not all successful individuals have this innate spark, which separates superstars from standard achievers.

“If he's not fully manufactured, you tell me who is. He's worked his way to where he's at.”
— Chris Gotti [06:10]

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Key Takeaways and Insights

1. Systemic Challenges: Black entrepreneurs in ‘Hood Business’ face systemic undervaluation, which hampers their growth and perpetuates economic disparities.

2. Value Recognition: It's crucial for mainstream corporations to recognize and respect the true value of black entrepreneurs to foster equitable growth and cultural representation.

3. Autonomy and Innovation: Platforms like Clash TV represent innovative approaches that prioritize autonomy and fair valuation, setting new standards in business dealings within marginalized communities.

4. Intrinsic Talent: The blend of innate talent and relentless work ethic is essential in cultivating superstars, whether in music, sports, or entrepreneurship.

5. Cultural Alignment: Successful brand partnerships must deeply understand and genuinely engage with the cultural nuances of the communities they aim to serve.

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Conclusion

This episode of Market Mondays provides a profound exploration of the intersection between entrepreneurship, culture, and systemic challenges within the 'hood business framework.** Chris Gotti's insights shed light on the pressing need for equitable business practices and the importance of maintaining integrity in deal-making. By addressing these issues, the episode not only informs but also inspires listeners to advocate for fair valuation and representation in their respective industries.

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Notable Quotes:

• “Rap music is hood business. People don't understand.” — Chris Gotti [00:50]
• “One of the most racist things I dealt with in music was, that's a lot of money. And I'm like, what?..." — Chris Gotti [02:10]
• “They don't even realize how they're lowering your value when they do it, and it's disrespectful.” — Chris Gotti [03:00]
• “If they don't talk to me, I pass on the deal.” — Chris Gotti [04:45]
• “Once you take that low number, you'll never get to the number you're stuck.” — Chris Gotti [05:20]
• “They have that effective. But they figured it out from work from time, over time, over time. It happens in sports.” — Chris Gotti [05:50]
• “If he's not fully manufactured, you tell me who is. He's worked his way to where he's at.” — Chris Gotti [06:10]

Transcript

[A]

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[B]

You talk to me about that a lot. Hood business. Then there's another name that we probably can't say on this, on this program. Thank you, Gotti. Appreciate you. That's Wednesday show. That's not talk about break. Break that down. Hood business. Because you come from, you come from the music business, which is the ultimate hood business. Well, rap, not all music business. Rap music is hood business. People don't understand. Talk about the, how difficult, talk about how difficult it is to try to be a businessman in hood business. You know, it's extremely difficult because the powers that control those dollars in the business side of it that you're trying to get into, they look at you again. One of the most racist things I dealt with in music was, that's a lot of money. And I'm like, what? That was so offensive to me because it's not a lot for you, Mr. White man, but it's a lot for me coming from where I came from. And I would be so offended. I'm like, that's not a lot of money. Then you take it. It would turn me so off of the deal that they would say that. And I mean, you would be surprised. They say it all the time. They're looking, look at what you're doing. That's a lot of money for you. They don't even realize how they're lowering your value when they do it, and it's disrespectful. So when I, when I say it's the same in every hood business and we have a lot of them out here, but in basketball, a company like Nike knows exactly what you're worth and does not pay you even close to it. And then when you take it, which most of the parks have to do to survive, they just take it. It. Oops, pardon me, and they take it. The reality is they'll never get to the number they want. And how interest Clash tv, a live streaming company that presents a whole different way of generating revenue and eyeballs for them. I don't talk good business, I'm talking real business. And if they don't talk to me, I. I pass on the deal. See, a lot of people wouldn't pass. They'll just take the shorts. But if I want to go up, once you take that low number, you'll never get to the. You're stuck. And that's what every park, whether they ever had a deal or not. So Ferris May never had. They didn't get a deal with Nike yet. They're being. They're stuck based on what Kenny did, what Ruck is getting, what Gersh is getting, they're stuck because of that. So there's a value already set in the marketplace. You cannot change that value without doing something different or drastic. And that's what Clash will do. But I need them to be able to say, I'll stand with you. If they don't stand with me and have the autonomy, you know that. That takes guts, right? That takes, you know, balls, big kahunas, bro. So it doesn't matter. I'm gonna stand on what's right, not what's wrong. And that's it. I stand on what's right. So I'm always on the side of right. And what's right is take care of the people that's taking care of you. And that's what the brands that are coming into hood business, which want all of that, they. They don't know how to get our culture, they just don't know how to do it. So they have to have someone that allows them in and the. The people that's in the positions are letting them in. That's very low value question for you. My apologies. Yeah, two parter. Are stars born or are they made? And then if you have to break down the elements of what a star is, what makes a person a superstar? Because you've been around a lot of them and you're one yourself. Yeah, that's again, coming from music. I'm a star finder. That's how I looked at myself, right? I. Five stars. So it's two, it's both. You could manufacture a star. I've seen that happen. But they have to have still, there's still something that has to be in them. And then the ones that have that in them, naturally, are superstars. They're Kanye West. That's the difference. So. Right. He's not manufactured. He's. He's a star. If that makes, you know, again, I could say a Jay Z if I use music. These guys are stars. Ja Rule was a star. He was not manufactured. These. He. He had something in him. It was just different. But then you get the guys that are very good. All right, so let me ask you a question. Is Jadakiss a star? This is what I'm saying. You know, there's no disrespect to them. They work their asses off. Yeah. And became it. And they have that core thing in them that makes a star. Like everyone doesn't have that it. Let's call it that it factor. It factor. Yeah. They have that effective. But they figured it out from work from time, over time, over time. It happens in sports. You know, I could actually argue like a Kawhi Leonard. If he's not fully manufactured, you tell me who is. That's. He's worked his way to where he's at. Yeah, right. That you could tell in his game, the way he plays. It wasn't just natural. He just worked. And he's gifted athletically. Right. You don't. It's. It's all there. To me. I could spot it easy just looking at people watching them if they have that from doing it so many times over and over and over. So, yes, it's both. That answer to that, those two part questions is it's both.

[A]

And now a next level moment from ATT Business. Say you've sent out a gigantic shipment of pillows and they need to be there in time for International Sleep day. You've got AT and T5G so you're fully confident, but the vendor isn't responding. And International Sleep Day is tomorrow. Luckily, AT&T 5G lets you deal with any issues with ease. So the pillows will get delivered and everyone can sleep soundly, especially you. AT&T 5G requires a compatible plan and device. 5G is not available everywhere. See att.com 5G for you for details. Water damage is no joke. Did you know that water damage makes up more than 25% of all home insurance claims? And the average claim costs over $13,000. Don't let a small leak turn into a big expense. Learn [e-mail] no joke. Pemco Mutual Insurance Company, Seattle, Washington.