MM #271: Trump's Opens Nvidia’s China Door, Tesla’s Robotaxi Push & The AI Stocks Everyone’s Watching

Summary

Market Mondays - Episode #271: Trump's Opens Nvidia’s China Door, Tesla’s Robotaxi Push & The AI Stocks Everyone’s Watching

Release Date: August 12, 2025

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Introduction

In this episode of Market Mondays, hosted by the EYL Network, stock market expert Ian Dunlap and co-hosts Rashad Bilal and Troy Millings delve into the latest trends and strategies in the investing world. They discuss significant developments involving major companies like Nvidia and Tesla, explore the burgeoning field of artificial intelligence (AI) stocks, and share insightful real estate investment strategies. The episode also highlights the upcoming Invest Fest, providing listeners with a comprehensive overview of what to expect.

Key Highlights:

• Birthday Celebrations and Community Shoutouts [02:17-03:00]

  • The hosts begin by celebrating important birthdays within the EYL family, fostering a sense of community and camaraderie among listeners.
  • Rashad Bilal: “Shout out to Edwin, man. Happy birthday, man.” [02:17]

• Upcoming Invest Fest Announcement [03:02-04:19]

  • Ian Dunlap and Rashad Bilal announce the forthcoming Invest Fest, emphasizing its significance for investors seeking to expand their knowledge and network.
  • Ian Dunlap: “Invest Fest is around the corner. We'll be working the presentation next week.” [02:59]

Nvidia’s Expanded Reach into China [08:37-09:34]

A substantial portion of the discussion revolves around Nvidia’s strategic moves in the Chinese market, particularly following Trump’s intervention.

• Trump’s Influence on Nvidia’s China Access

  • Rashad Bilal highlights how former President Trump’s actions have opened doors for Nvidia to expand its semiconductor sales in China.
  • Rashad Bilal: “Trump took over D.C. to threaten New York and Chicago next. Congratulations to MG too, on his baby shower.” [03:40]

• Implications for Nvidia’s Revenue and Stock Performance

  • The potential for increased sales to China is seen as a game-changer for Nvidia’s revenue model.
  • Ian Dunlap: “Gross margin currently for Tesla is 17.48%. Net margin is 6.61. So if they can take that net margin from 6 to 10...” [10:20]

Tesla’s Robotaxi Initiative [07:05-12:12]

The hosts explore Tesla’s ambitious venture into autonomous ride-sharing services.

• Stock Performance and Focus Post-Trump Era

  • Tesla’s stock has seen significant volatility but is currently on an upward trend, attributed to Elon Musk’s renewed focus on core initiatives.
  • Troy Millings: “Tesla is a company that's been on the seesaw. It's been going up, it's going down...” [07:05]

• Robo Taxis as a Revenue Stream

  • The introduction of robo taxis is discussed as a transformative element for Tesla’s business model, potentially allowing owners to generate income from their vehicles.
  • Rashad Bilal: “Having the ability to turn into a robo taxi on your behalf is a game changer.” [09:33]

AI Stocks and Market Outlook [26:05-45:00]

A significant segment is dedicated to the current landscape of AI stocks and the broader market trajectory.

• Nvidia and the NASDAQ Bull Run

  • Ian Dunlap advises against shorting the NASDAQ, citing the robust performance of tech giants like Nvidia, Microsoft, and Apple.
  • Ian Dunlap: “This time we're not even including the options or futures trading. This is just long term.” [62:50]

• Potential Market Pullbacks and Long-Term Investments

  • While acknowledging the possibility of short-term corrections, the hosts emphasize the enduring strength of leading tech companies.
  • Rashad Bilal: “There's a lot of correction talk, a lot of recession talk. Is there a recession in the economy? Yes. And Nasdaq and Nvidia not so much.” [26:26]

• AI Company Valuations and Future Prospects

  • The discussion covers the valuations of top AI companies, including OpenAI, Microsoft, and emerging players like Replit and Perplexity.
  • Rashad Bilal: “Open AI's newest model of mega funding talk has AI evaluations once again buzzing.” [74:22]

Real Estate Investment Insights [14:00-21:24]

Troy Millings shares a personal real estate investment experience, offering listeners a practical example of leveraging financial literacy.

• Cash-Out Refinance Strategy

  • Troy narrates how he acquired a foreclosed condo, paid cash for it, and subsequently executed a cash-out refinance to extract capital for further investments.
  • Troy Millings: “I paid 285 for the property... I walk away with like $330,000.” [14:00]

• Financial Literacy and Networking

  • Emphasizing the importance of financial knowledge and leveraging relationships, Troy showcases how he turned an initial investment into a profitable maneuver within months.
  • Rashad Bilal: “Having resources... just having that, there's not a lot of information.” [17:50]

Invest Fest: Event Details and Excitement [04:19-129:13]

The episode concludes with extensive coverage of the upcoming Invest Fest, detailing its schedule, key speakers, and exclusive events.

• Event Schedule and Highlights

  • The hosts outline the various sessions, workshops, and performances scheduled for Invest Fest, encouraging listeners to participate actively.
  • Troy Millings: “Invest Fest starts Friday at 10 o'clock in the morning... Steve Harvey interviewing Issa Rae and Charlemagne simultaneously.” [22:37]

• Networking Opportunities and Panels

  • Importance of attending panels like the Africa panel and China panel is stressed, highlighting their relevance to current market trends.
  • Troy Millings: “Everybody should go to that Africa panel. We've been talking about it so much.” [122:02]

• Community Engagement and Q&A

  • Throughout the episode, the hosts interact with live callers, addressing questions related to market strategies, specific stocks, and investment tactics.
  • Ian Dunlap: “If you have a question, put a question in chat.” [82:30]

Notable Quotes

• Rashad Bilal: “This is opportune time. If there is a correction, even better. The strongest companies will be here.” [64:29]

• Ian Dunlap: “Nvidia, Microsoft, Apple, Google, Amazon, Meta, Broadcom, Tesla. That's not a top seven or top five. I want to short even like Paramount...” [31:01]

• Troy Millings: “You can't count Elon out, especially when he is focused.” [12:12]

• Rashad Bilal: “Financial literacy because... having that, there's not a lot of information.” [21:01]

Conclusion

Episode #271 of Market Mondays offers a deep dive into the dynamic interplay between political maneuvers and corporate strategies, particularly focusing on Nvidia’s expansion into China and Tesla's innovative robotaxi program. The hosts provide a balanced view of the AI-driven market surge, acknowledging potential short-term volatility while underscoring the long-term resilience of leading tech giants. Additionally, Troy Millings’ real estate investment story serves as an educational blueprint for leveraging financial opportunities through informed decision-making and strategic networking. The excitement surrounding Invest Fest further underscores the community’s commitment to fostering investment acumen and networking among like-minded individuals.

Listeners are encouraged to join Invest Fest for an enriching experience, featuring esteemed speakers, panels on critical topics like Africa’s market potential, and invaluable networking opportunities. The episode wraps up with heartfelt community acknowledgments and a reminder of the importance of continuous learning and strategic investing.

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Note: The timestamps referenced in the quotes correspond to the times indicated in the provided transcript.

Transcript

[Ian Dunlap]

Earners.

[Rashad Bilal]

What's up? You ever walk into a small business and everything just works like the checkout is fast, the receipts are digital, tipping is a breeze, and you're out the door before the line even builds. Odds are they're using Square. We love supporting businesses that run on Square because it just feels seamless. Whether it's a local coffee shop, a vendor at a pop up market, or even one of our merch partners, Square makes it easier easy for them to take payments, manage inventory and run their business with confidence, all from one simple system. If you're a business owner or even just thinking about launching something soon, Square is hands down one of the best tools out there to help you start, run and grow. It's not just about payments, it's about giving you time back so you can focus on what matters most. Ready to see how Square can transform your business? Visit square.comgoeylash to learn more. That's square.comgoeyl don't wait, don't hesitate. Let Square handle the backend so you can keep pushing your vision forward. This episode is brought to you by PNC Bank. A lot of people think podcasts about work are boring. And sure, they definitely can be. But understanding a professional's routine shows us how they achieve their success little by little and day after day. It's like banking with PNC Bank. It might seem boring to save, plan and make calculated decisions with your bank, but keeping your money boring is what helps you live a more happily fulfilled life. PNC bank Brilliantly boring since 1865 brilliantly boring since 1865 is a service mark of the PNC Financial Service Group Inc. PNC Bank National association member FDIC yeah, yeah, yeah. Yes. That time. Here's that song you live. Yeah, we like it's that time is that time. What's going on, everybody? Happy Monday. It's the 11th of August. Yes, 2025. Hopefully everybody's had a blessed weekend. Had a healthy weekend, spent it with some loved ones, checked in on their people.

[Ian Dunlap]

We missed.

[Rashad Bilal]

Yeah, we missed a birthday. An important birthday in the ey L family, man. My brother Edwin. Happy birthday, man. I had to leave the show. You want to talk about just a top solid person, solid person, man. And has been that way every minute of every day. We've met this guy. Shout out to Edwin, man. Happy birthday, man.

[Ian Dunlap]

Hopefully supreme coin stacker too.

[Rashad Bilal]

Well, he's really doing the thing, man. Just, just an incredible human being, man. Just wanted to wish him a happy birthday off the rip, man.

[Troy Millings]

Happy, happy birthday to Everyone, I think he turned 40. So happy birthday. Work.

[Ian Dunlap]

Yeah, yeah, yeah.

[Rashad Bilal]

Happy 40s, my guy. How we feeling? How's everybody feeling?

[Ian Dunlap]

You good? How you feeling?

[Rashad Bilal]

I'm good, man, I'm good.

[Ian Dunlap]

Excited Invest Fest around the corner. We'll be working the presentation next week. That's a fact.

[Rashad Bilal]

It's next week. It's next week, man.

[Troy Millings]

Next week.

[Rashad Bilal]

Crazy, man.

[Troy Millings]

We are live. We are alive.

[Rashad Bilal]

We are live. Shout out to everybody that sent traveling mercies for us. You can see Shoddy is back here in America. I am back here in America. We're back in New York. Ian is back in America. Location to be determined. So we appreciate all that, man, but you know how this goes, man. We never gonna miss a Monday. No, not if we can't. We're gonna make sure that we're here. No matter what part of the world we in, we're gonna deliver, man. So I'm happy that everybody's here. Got a lot to talk about.

[Troy Millings]

Yeah, for sure. It's a lot going on. So of course we're going to talk about Invest Festers next week, but blackout, 10 o' clock Eastern Standard Time this week. We got a lot to talk about. Trump took over D.C. to threaten New York and Chicago next. Congratulations to MG too, on his baby shower.

[Rashad Bilal]

Yes.

[Ian Dunlap]

Congrats, MG. I wish I could have been. That's you, my brother. I'm happy for you.

[Rashad Bilal]

Yeah, man. You saw the smile on his face, man. Congrats to him for sure.

[Troy Millings]

So tune into that no EYO episode this week. Watch the back episodes. We got a lot to prepare for for Invest Fest so you're taking this week off, but we got some content on the way and any announcements and.

[Ian Dunlap]

Messy news that t her app, yo, number four. Getting some traction, ladies?

[Rashad Bilal]

Number four, free most downloaded app.

[Ian Dunlap]

Yes. Let's have an amazing show. I'll do mid roll. Shout out to everybody in red Panda. Let me get some pandas in chat. And how much are you up on Nvidia?

[Rashad Bilal]

Yeah, there's a couple ones we could talk about tonight. How much you up on? But Nvidia, that's one of the ones, man. A lot of stuff going on.

[Troy Millings]

Disclaimer.

[Rashad Bilal]

Yeah, let's do this, man. You know how this works, man. Do your own research. Do your own research. This is live, right? Your content is intended to be used and must be used for informational purposes only. It's very important to do your own analysis before making any investment based on your own personal circumstances. You should take independent financial advice from a professional in connection with or independently research and verify any information that you find on our show and wish to rely upon whether for the purposes making an investment decision or otherwise. Watch this, Ian. Continue to do the research and when it's great research, share the research. That's how we build community. That's how we build well. That's how we build sustainable well. Love is love, y'.

[Ian Dunlap]

All.

[Rashad Bilal]

This is much brought to you by the good brothers I earn you leisure. And the good brother, Ian Dunlap, the mass investor himself. Back to get ready to schedule program.

[Ian Dunlap]

Yes.

[Troy Millings]

Let's get into.

[Ian Dunlap]

Wait, Rashad, get the solo cam tonight.

[Rashad Bilal]

I'm ready for him once you just tell me. I got him.

[Ian Dunlap]

Gotcha.

[Rashad Bilal]

Precursor. Precursor. Shall you look up at him just in case?

[Ian Dunlap]

Yo, I never know, but I'm ready.

[Rashad Bilal]

I'm ready.

[Troy Millings]

You think Drake could pull some that.

[Ian Dunlap]

You never know.

[Rashad Bilal]

Never know. I just gotta be ready for him.

[Troy Millings]

All right. Yeah, we back, we back. No, he was in Africa. Shout out to everybody in Africa and Benin and bonsoir, man. Been around the world at least three times so far this. This year. China, Ghana, Kenya, Rwanda, Benin.

[Ian Dunlap]

Are you tired, my brother? You rested? You glowing? How you feel? How's your mental health going?

[Troy Millings]

It's okay.

[Ian Dunlap]

Okay.

[Troy Millings]

Surviving the game, you know. You know, surviving the game. But it's definitely a blessing to travel, man. Like I said, we've been around the world and we've been able to. To talk to a lot of great entrepreneurs and more importantly, be inspired. You know, a lot of times when you just stay in your. In your. In your area, in your comfort zone. Yeah, it's not really inspiring. You're around the same people all the time. You get the same level of toxicity. So I highly encourage everybody to try to get out there and just, you know, see the world as much as possible, wherever you go, you know, and that's something that, you know, we had a blessing on doing so. But it feels good to be home, man. It's good to be home. You know, no place like when your.

[Ian Dunlap]

Home feel like vacation, that. That's the blessing.

[Troy Millings]

Yeah, that's a fact. So we're gonna get into it. Let's start with Tesla. Robo Taxis. Okay, so Tesla is a company that's been on the seesaw. It's been going up, it's going down, it's going up, it's going down. Elon, you know, fights with Trump, that crashes the stock. Then it goes back up. So right now it's back on the uptrend 339. It was just on around 200 a few weeks ago. So, okay, what's the deal with the Tesla robo taxi push?

[Ian Dunlap]

I think as I mentioned before, ever since the decoupling of Trump and Elon, he's been a lot more focused. As a result, the stock has went up. I was hovering around 292.77. Like you said, it's currently at 339. I think he's more focused than he has been maybe the prior year and maybe he took some of that relationship currency that he had with Trump for granted and left some of the initiatives to the side. But he's been doing a solid job. If he can just stay out of the news for anything negative, I think it would be okay. In the year I have Tesla going to 374.65. I don't think they'll break that all time high of 488.54 this year, but going into next I think they could. The diner idea is going well, so he, he's launching and executing consistently. My thing is, can he stay out of the public eye for negative reasons for the next 12 months, keep his head down? If so, Tesla would do pretty well.

[Rashad Bilal]

Yeah, I'm with you. I think it's a, it's a, the first step into what could be something monumental. That upswing for the company. The robotaxi we spoke about in detail. Having a state like Texas, obviously where he's building a factory, being the first one to grant the license for them to, to operate, I think is the first step. It almost feels like the first baby step. Right. Because it is limited how many cars, the fleet size is limited, the zones are limited. And the initial reports that they've had so far is that there have been some hiccups, which is understandable. But when, and I think it's when, not even if, when they get this correct, this is going to change the revenue model of their entire company.

[Ian Dunlap]

You think so?

[Rashad Bilal]

I think so.

[Ian Dunlap]

Tell us.

[Rashad Bilal]

For a number of reasons. I think the main thing and shout out to, to my young guys, I had a Sunday walk and we talked about investment with some teenagers in my neighbor. But this week they were talking about Tesla, they liked it as a company and we're talking about how it compares to Uber in terms of what they do in autonomous. But I think the fact that the new Tesla models that they're making, having the ability to turn into a robo taxi on your behalf is a game changer. Right. So you imagine you have your Tesla, whatever is Model S, you're going for A week. That car can actually generate revenue for you. In fact, that could actually probably pay for you having the car, which is we've never seen before. But they're creating the technology to do that on top of having a fleet of over 3 million cars.

[Ian Dunlap]

Right.

[Rashad Bilal]

So like every car becomes a part of fleet where autonomous ride share services have to get people to use their automobiles. Tesla automatically has a fleet to. I mean that's just today, two, three years, that could be 6 million as a fleet. Every one of them having the ability to be a ride sharing car, that's a game changer, that's revenue. I'm sure there'll be tons of incentives and people will be making disposable income from that. So it's just a game changer.

[Ian Dunlap]

And here's why it matters. Gross margin currently for Tesla is 17.48%. Net margin is 6.61. So if they can take that net margin from 6 to 10 or 6 to 14, it's going to move the stock because they've done incredibly well with it being a low single digit net margin stock right now. So if they can bump that up to 12 or 13 as a result, I think the Robo taxi launches in Texas in September. If he pulls this off, it's going to have some positive headwind for, for the stock for sure.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Do I think that it has all the allure of what it did in 21 or 23? Maybe not, but you can't count Elon out, especially when he is focused. Yeah.

[Rashad Bilal]

It felt like the story then was the idea of, yes, the automobiles, but the ideas of the charging stations. It was like the accessories, right? It was the charging station, it was the batteries that they were going to sell, it was the solar paneling that they were going to sell and all that was going to be part of that ecosystem of Tesla. And now it's the autonomous component, the Robo Taxi and then the agentic AI, which they're doing as well. That is now the story. I mean it's the story everywhere, but it's that, that seems like it's the focus now.

[Ian Dunlap]

The Tesla misses moment to be one of the greatest companies ever by him not being focused and focusing on MAGA or Doge.

[Troy Millings]

It's not over. The story's not over yet. You know, I mean, you know he's, he's gonna get as many changes as he wants. So you know that.

[Ian Dunlap]

And Grok is impressed. I gotta give it to him. Grock is pretty impressive.

[Troy Millings]

Yeah, Eli, it's not over till it's over. He's far from over. As long as he's the richest person in the world, he got a lot of leverage on his side. So I think that's the story of Tesla, the story of SpaceX. Nora Link is. Is still being written.

[Ian Dunlap]

And Starling, that's the one that's gonna really.

[Rashad Bilal]

They have competitors now too. There was just an article about the Neuralink competitors in the space. But I'm with you shot 100% agree. It's too early to write the. The story on it because this moment have they had hiccups? Yes. Some might even say him the. The Twitter purchase might have been like the first sign of like, wait, what are we doing here? Right then Gronk and everything he's done in terms of Open AI and the situation with Sam Altman Trump, there's just been a lot of noise around it. But this is the moment. I think this is a pivotal moment.

[Ian Dunlap]

He's rebounded incredibly well especially to have had that partnership taken from him. And open AI, given what that is worth, you have to give him credit for being a courageous competitor. Even most people as executives, you wouldn't want the president to be enemy combatant. Tim Cook so much so had to go buy a gold base to bring to Trump with glass made from Huawei to present to him. You got to give Elon credit. He's fought back incredibly well.

[Rashad Bilal]

What's his net worth if Open AI is still under the.

[Ian Dunlap]

The portfolio Trillions of dollars.

[Rashad Bilal]

Right? Like that.

[Ian Dunlap]

He'd be the new big T if he had that open that 42 of open AR, didn't he? Or some ridiculous number.

[Troy Millings]

That's a fact.

[Rashad Bilal]

What already? But yeah. Trillion.

[Ian Dunlap]

I'll be upset too. I get why he was in this conference room doing what he was doing.

[Rashad Bilal]

If I lost that, what he'll settle for the 4. 400 billion for sure. Nice consolation.

[Ian Dunlap]

Yeah.

[Troy Millings]

Speaking of Matt, I do wanna. I talked about this story before, but I said I was gonna give an update once it's done. I actually closed on a refi. Okay. And Matt walked me through this process. So if you're not familiar with this story, I told it before, but it's one of these things that kind of fell in my lap. A foreclosure fell in my lap. And it was $285,000 condo and I purchased it in cash. So, you know, it's one of these things of like, I knew it was way under market value, but I'm like.

[Ian Dunlap]

And what city, if you don't mind.

[Troy Millings]

A Saxon, it's in New York.

[Ian Dunlap]

Wait, hold on. I'll be mad too. You ain't call me.

[Troy Millings]

But so it's one. It's one of these things where I'm like, you know, 285, 000 is just kind of essentially. It's kind of essentially gone because it's like until you sell a property, right? And it's not really a. A flip. So I was just thinking like, okay, well, whatever. And then I'm just like, yeah, it would be good if I can actually get the money back. So I know you can refi. But usually I was always thinking of refi is with a mortgage. I don't have a mortgage. Obviously you pay any cash. So I asked Matt. I'm like. I explained to him the situation and he was like, yeah, you can do a cash out refi, which is essentially a mortgage on the house. And even if you have a no mortgage, you're like, you're getting a mortgage refi. So long story short, I paid 285 for the property. And when it got appraised, it got appraised at 470, okay. So I was able to get like 75% on the cash out refi. So that was like 3:50, something like that. But then, you know, it's a bunch of closing costs. Even on that, it's crazy. They took like 20, 30, 000 out of closing costs. So I walked away with like, like 330, 000. But I mean, that's kind of. That's not a bad deal to actually pay 285. I paid 285 and I could walk away not even a year later. Honestly, it's like eight months later and I walk away with 3:30. Right? Like, that is financial literacy because. And it's power relationships. Because honestly, if I didn't know the person to ask the question to, I probably would have never asked the question. If I wasn't educated that you can actually do a cash out refi even though you don't have a mortgage, you can still get money back from a property. Then I would have just had $285,000 tied up forever, right, for the next 20, 30 years. But just having that, there's not a lot of information. Just. Just a little bit of information enough.

[Rashad Bilal]

Yeah. And having resources.

[Troy Millings]

Yeah, that's a big difference. Now instead of not having 285,000, I have 330,000.

[Ian Dunlap]

How did the foreclosure come in your possession? How did you hear about it? Because I think it may be a Teachable lesson. Not as well.

[Rashad Bilal]

They're gonna say you knew, you, you guys know everybody. That's how I fell into your lab, bro.

[Troy Millings]

It was, it was.

[Ian Dunlap]

Referral was important.

[Troy Millings]

It was a referral. But you gotta, you gotta always keep your head up and your eyes open because sometimes opportunities just fall in your lap sometimes.

[Ian Dunlap]

Like the one with Tabiti. If he told us about Poppy.

[Rashad Bilal]

Oh my God. Oh my God. Yeah, we, we ain't gonna forgive him for that one. I'll text n. We gotta. I looked at him like what we not on the first 10 people you calling.

[Troy Millings]

That's a fact. But so here's the deal too. So this all, I'm tying this all in. So Ms. Business, who's the CPA? So she was like, well, because I had it in my personal name. So she's like, when you refinance, you do it with the business. So now it's like it's a, it's an investment property. So you know, you get, it's taxed differently as an investment property, as a personal property. And then of course like anything that you buy and stuff like that, then it's write offs also. So that's good. Once again, relationships and just having the information, right, that opens up doors and that changes situations. I had to get a slightly higher interest rate because it wasn't like a traditional through my name. So it's like 8% interest rate, right?

[Rashad Bilal]

A little bit over the standard.

[Troy Millings]

So but let's say I'm still undecided what I'm going to do with the money. But let's say I invest the money in the stock market, right? Like I just have to earn more than 8% a year to justify taking the money out, right? So let's say hypothetically I earned 12 in the stock market right now that's a net gain of 4%. So now I have my money back plus an additional 50,000 that I didn't, I didn't put in that I didn't even have that 50,000. I didn't like when I said like I, I only, I put in 285. I got back 330, right. So I've already made 50,000 on the deal regardless. Now I do have an 8% interest that I'm paying back every month. But like I said, if I can earn higher than 8% in the market then I'm actually going to make money on that. On, on the investment side. And the real estate continues to go up. The value, the value of the real estate goes up. So in 20 years. This property might be worth 700,000.

[Ian Dunlap]

You can have an exit there.

[Troy Millings]

So it all goes back to financial literacy and just having the right people around you and being able to ask the right questions. One thing I learned in life is that you have to be educated enough to ask a question. Sometimes you're not educated enough to ask a question.

[Ian Dunlap]

Yeah, right.

[Troy Millings]

You got to be educated at least baseline level to even be able to ask a question.

[Ian Dunlap]

Man. You take that 50 and put it in the video or 110 and yeah, some prices and option.

[Troy Millings]

0.0Day option. Now the next thing I'm gonna do is a zero day option on the.

[Rashad Bilal]

Three on the meme coin coming to the next class. I got it. I'm cooking up. I'm cooking up right now.

[Troy Millings]

It turn it to 7 million.

[Rashad Bilal]

Yo, lose it.

[Troy Millings]

We either gonna lose it.

[Ian Dunlap]

Roll a dice. Or you could put it on.

[Troy Millings]

On the green builder coin that they promoted.

[Rashad Bilal]

If we in Vegas. Ca. Crap table. I got us, bro. Trust me. I got a zero day. I got us.

[Troy Millings]

But shout out to Matt. Shout out to Matt, because like I said, I can actually speak from firsthand experience that he. He helped me out. Hold on.

[Rashad Bilal]

No, we're. That, that was it. We were joking about.

[Ian Dunlap]

That was a joke.

[Rashad Bilal]

It was a joke.

[Ian Dunlap]

It was not serious, people.

[Rashad Bilal]

No, no, it's a joke. That was a jest. Like we were just joking. Maybe, perhaps.

[Troy Millings]

But yeah, shout out to Matt, man, because that's something. Like I said, I can't speak from firsthand experience. He helped me out, he made me some money and he knows his stuff and he actually does it now. It's a lot of paperwork. It was a very tedious process.

[Rashad Bilal]

That, that, that is true.

[Troy Millings]

But got through it. Got through it. So shout out to Matt. And with that being said, get your tickets to Invest Fest, please, please. Next week it goes down. Ian Dunlap. We'll be back. Yes, he will be doing Friday, Saturday, Sunday, Friday. Blackout Live with Kevin. Kevin stage. Shout out to Kevin on stage. Saturday market. Monday's live with Jack Dorsey.

[Rashad Bilal]

Shout out to Jack Dorsey, the entire block team.

[Troy Millings]

Sunday he's doing a solo presentation. And then, man, you know, four o' clock on Saturday, you know, prime time hour. We got the legend himself, Steve Harvey. He only does one interview a year these days. And he will be interviewing Issa Rae and Charlemagne simultaneously. Simultaneous play.

[Ian Dunlap]

That's one you don't want to miss.

[Troy Millings]

Yeah, that's a good one. And then, and then Sunday, of course, we got Magic Johnson at 4:00'.

[Rashad Bilal]

Clock.

[Troy Millings]

Oh, man, we got the nil panel. VIP night's gonna be crazy. Keisha Cole performing Jada Waiter. We got Pinky Cole, Blackout, myself and ian, Terence J. VIP night's crazy. All day Friday starting at 10 o' clock in the morning. Workshops Fidelity Blackrock. Ms. Business doing a two hour presentation. Oh man, it's Invest Fest. Starts Friday at 10 o' clock in the morning. GWCC highly suggests that you get your registration and your badge on Thursday. All day Thursday it will be open. GWCC C, Building B, Building B, Building B building Thursday get you get your. Get Your Badge and 85South Comedy Show.

[Rashad Bilal]

Invest your festival.

[Troy Millings]

Man. We got. We got Carlos giving a stand up for so you know, I'm excited. I'm excited. But like I said, I wanted to tell that story because even me, I'm still learning. There's a lot of things that I don't know and information has changed my life on a certain level and just haven't. Haven't being. Having information is really life changing. Literally. It's literally life changing.

[Ian Dunlap]

And it goes to show investing in a diverse amount of assets. There's other things you could have deal with it, but you made the investment hell of a deal. I mean that's like buying bitcoin right now. If it got to 50, 000 or 75, 000, it's a guaranteed home run. Any property in New York at 285. What? So reinvest them into another asset. The perpetuity move. I love it.

[Rashad Bilal]

The perpetuity move.

[Troy Millings]

A perpetuity move.

[Rashad Bilal]

All right, well like $5, man.

[Troy Millings]

All right, ladies and gentlemen, I need it. Invest Fest. Get you get your tickets. It's going down. I can't believe it's here next week.

[Ian Dunlap]

That's crazy. I know, man. I looked at the calendar stressing.

[Rashad Bilal]

Your fiscal year ends and starts next week.

[Troy Millings]

Oh, run the show is on the app and it's on the website.

[Rashad Bilal]

Please go check it out.

[Troy Millings]

Please download it on the website.

[Rashad Bilal]

Go download it. Make your schedules. You can adjust it as you go, but just make your schedule so you have an inserted plan of what you're going to see and what you absolutely will not miss. Please do that for yourselves.

[Ian Dunlap]

Oh, and I didn't pay my phone bill, so I won't be available to after.

[Rashad Bilal]

Oh yeah, yeah. I think they get it at this point. And yo, same rules apply. Shout out to the sweaty palm community. I appreciate all the love y' all been showing me over the past year or so, but that's important. No, it's important. I appreciate y'. All. I love y'. All. The, the depth, the, the fist bump. Some people have brought hand sanitizer to me. I appreciate y'.

[Ian Dunlap]

All.

[Rashad Bilal]

I love y'. All. You know how this go, man. Thank you and for the consideration.

[Troy Millings]

That's a fact. Thank you for your consideration on this matter. Nasdaq's record run. Nasdaq just hit another record high. Is this a fresh AI led bull leg or will it soon be undone?

[Ian Dunlap]

I, I want everyone to be very clear. I want you to stop wishing for a NASDAQ pullback because you may have gotten in too late or not at all. I think Nvidia had ushered in probably the, if we're looking at like the class, like the 96 drafts class, this 2025, 2024 class of tech companies are probably some of the best we have ever seen in the history of American enterprise. So will there be a pullback? Absolutely. But I'm seeing a lot of correction talk, a lot of recession talk. Is there a recession in the economy? Yes. And Nasdaq and Nvidia not so much. Two things can be true at the same time. I think there may be a probability of NASDAQ pulling back to 23, 071 somewhere in the area. But as far as a long term 2030 drop, the companies are too strong. Nvidia AMD and I know that chart keeps circling around of Nvidia's growth versus Cisco's growth. The difference is Cisco didn't have the margins or Netscape during the dot com bubble didn't have the same kind of architecture in the, in the business model. For a multi trillion dollar company for them to still be operating at 51 net margin is absolutely 55. 55, that's like a small business operating at 98 net margin. So this is one of the best companies ever. Tesla solid, Apple starting to fight back. Google is solid. Now is not the time to short the market. The real move is to buy in and hold for a long period of time and don't change that. As I prep for invest fest and everything that I want to keep talking about like go someone put in chat what is Microsoft and Nvidia's all time return. That's the power what Rashad is talking about. Hey, I had an opportunity to buy a property. Now take the gains from that property and put it into something long term. In 20 years he'll be able to look up and from that initial investment maybe make five or six million dollars. Just holding 20 years. I know now to be in the NBA making 300 million a year. So. But this is the power of investing in quality companies. And in 2010 and for 2015, if I told you a multi trillion dollar company was going to usher in this wave and open AI hasn't even went public yet, now is not the time to short the Nasdaq, the Russell, the, the hedge funds have the largest number of shorts on the Russell 2000 in history. That's dramatically different from what's happening in Nasdaq. Please continue to hold for the next five years.

[Rashad Bilal]

Yeah, I think it's an interesting time. And if you look at the bull case, obviously, I mean just following the trend, if you just from a technical analysis standpoint, you don't see a bear market approaching. In fact, when we talk about, you know, economic indicators, I know cpi, something gets brought up a lot and we'll see where inflation is at. But all signs are pointing to rate cuts. And if you know anything about rate cuts for large scale enterprise companies, that's going to help.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

So if there's two that are being baked in for this year, we've been saying it's going to be two, is going to be two. September looks like it's going to be the month with. We're just a month away from that. You're talking about rate cuts. That's going to help. You're talking about another delay on this China tariff. That helps. You're talking about now we're going to be able to sell not our top tier product in Backwell, but maybe some of our hoppers to China with a 15 quote unquote tariff.

[Ian Dunlap]

And Trump said he may even let them sell a higher chip version to China.

[Rashad Bilal]

I was getting there. So now you're talking about, you're expanding that market where you had lost maybe a 15 part of your rep. So like that's there on top of it now there's talks that you may be able to sell a higher chip to them. So now you're growing that base. That's. And we're just talking about Nvidia, right. We're talking about that hyperscaler, that economy that thrives and grows off the production of. And the progress of Nvidia is just as strong when you're talking about a Broadcom and you're talking about Adele, all these companies that are going to benefit from it. All these things help. So will there be a pullback?

[Ian Dunlap]

I think we saw every day and every week.

[Rashad Bilal]

I think I thought we saw two already. Like we saw one in January for sure. We saw One. Could we see one here in the next four to six weeks? I think we'll see a slight pullback. I don't think it'll be something that will over 20 like a correction. I'm starting to see some analysts starting to predict that there might be one at the top of next year. But right now that flag is green, man.

[Ian Dunlap]

Who? The top companies in the nasdaq. Nvidia, Microsoft, Apple, Google, Amazon, Meta, Broadcom, Tesla. That's not a top seven or top five. I want to short even like Paramount, even though they're not in that elite class, they're punching up, no pun intended, with the acquisition of ufc like we're seeing some of the best deals in history being done in real time. And people are like, well, the market's going to fall. The economy and stock market are two totally different things. With economy contract, absolutely. But I'm not going in against Microsoft. Even if they decouple from open AI before open AI goes public, that's still going to be a huge windfall for them. And then they'll go buy another AI whatever and then reinforce copilot. This isn't the class I want to go against.

[Rashad Bilal]

Yeah. You know what's interesting? I was doing the research when you brought up Paramount and that's a pretty big deal that they struck. Started looking up who owns Paramount. You know who the owner is?

[Ian Dunlap]

Tell us.

[Rashad Bilal]

So there's a gentleman by the name of David Ellison and that last name might sound related to because his dad is Larry Ellison, who is the founder of Oracle, which is a company I've been talking about in terms of cloud data storage. He's also the second wealthiest man in the world. Most people don't realize that. And he's also the guy who's partnered with OpenAI and is creating Stargate. And so these moves, right. Like he's taken over like I know media. We always talking about the richest people in the world want to have a way to communicate with directly. Directly with the population. He now owns a network. Well, his. I shouldn't say he. His family, his son owns a network. So Paramount and Skydance, I believe they. They both own. So just think about that. That family in itself.

[Ian Dunlap]

That's a hell of a Thanksgiving. Wow. Wow. On the 90 of Oahu.

[Rashad Bilal]

Wow.

[Ian Dunlap]

Yeah.

[Troy Millings]

Facts. Okay. Hit the like button and share. 5,100 people want to check in.

[Rashad Bilal]

Yeah, yeah.

[Troy Millings]

This is live so we can answer some questions as well.

[Ian Dunlap]

Yes.

[Troy Millings]

Let's talk about Nvidia. AMD Trump opened the door for them potentially to sell chips In China.

[Rashad Bilal]

Yeah.

[Troy Millings]

With the caveat of 15 of the sales goes to the U. S. Government.

[Rashad Bilal]

What does that sound like to you?

[Troy Millings]

A deal?

[Ian Dunlap]

Satan? Nope. No.

[Rashad Bilal]

I don't know. When I read it, there was this E word that kept coming up in my mind. I'm like, yo, this sounds like yo.

[Ian Dunlap]

It's the I word that.

[Troy Millings]

Well, the thing, the thing about Trump is that he's gonna always make a deal. Okay, say what you want about him. He, he, he, he's making deals. He's making deals. Like he made a deal with Congo to get their natural resources.

[Ian Dunlap]

Yeah.

[Troy Millings]

Hopeful, though, but I'm just saying, like, not, we're not. He's just thinking, just factual. He's like one of the first, he might be the first president that's thinking like a shark businessman. Like, he's not thinking like a diplomat. He's thinking like a businessman. He's, he's making a lot of deals, bro. Ukraine, he got their resource, their natural resources.

[Ian Dunlap]

That's above our protection.

[Troy Millings]

Then he's about to meet Denny's. No, but I'm saying. Then he's about to.

[Ian Dunlap]

I know.

[Troy Millings]

Then he's about to meet.

[Ian Dunlap]

I love you, brother.

[Rashad Bilal]

Protection.

[Troy Millings]

No, I'm being honest. He's, he's, he's not doing a bad job when it comes to making these deals.

[Rashad Bilal]

He is making deals and this is, I'm glad you said that.

[Troy Millings]

We gotta be, we gotta be. No, we gotta, we gotta be fair.

[Rashad Bilal]

About the situation here is the important part. And I'm glad you said that he's making deals because his, the whole movement has been about making America great. Say what you want about that, that's fine. Whether you, whatever side alley on whatever. Here's what you should be doing as investors. If they're going to tell you that they're going to make American great again, find the great American companies because it. Well, there goes one, right? Look at who he partners with. I've been talking about Dell for the past two months. Look at what Dell's been doing, right? Everybody thought, oh, that's a computer company. No, no, no. They parted with Nvidia to make racks, right? So those, those GPUs sit inside racks that sit inside data centers. They're partnered with them at. Look at what, how Dell's been performing, right? Look at Oracle over the past year, right? American company. We talked about Micron for a year now, right? He puts attacks on semiconductors, right? Samsung, not American company. Sy Hynex, not American company who becomes a leader in the high bandwidth memory space. That American company Micron, look how it performed today. Start fighting the companies that are doing going to dominate in that space, especially the semi space. Because we've seen already from a supply chains during the pandemic, we cannot rely on foreign entities. If he's going to say make American great outside of intel, right? And he already had some choice words with the CEO. Start finding those companies.

[Ian Dunlap]

Y' all sounded familiar, right?

[Rashad Bilal]

Yep. Yeah.

[Ian Dunlap]

I'll play God and devil's advocate.

[Rashad Bilal]

Okay.

[Ian Dunlap]

Jensen is smart enough to know that he needs both continents for Nvidia to keep their dominance. Well played. Trump also knows. Let me find a way to give Jensen what he wants and I get what I want. At the same time, I, I'm not a political expert, but to me, if I allow you to sell your greatest inventions to our enemy currently at the time, is it beneficial for us short term or long term? But they kind of find a way to meet in the middle somehow. A Chinese ring was coming here anyway and sending the hoppers over. Let me just destroy that streamline and let just come directly to me. Pay the vid. That's a great lesson you got to learn in gambling. Ed Sakota, a man for all markets who mastered gambling, then went to the markets, big rule is you have to pay that toll fee. So now if I'm only given a small percentage back and I'm now allowed to sell some of my B tier products to China, it makes the company even bigger and prevents a real deep seat like thing from happening. But is this, I don't want to say the treason word, but like is it close to that?

[Rashad Bilal]

I was thinking friendly extortion. Okay, Friendly extortion. And we're only talking about it from one end of the pendulum, right? We're talking about Nvidia and yeah, Nvidia, you pay that 15, they can afford to do it. Right. They're going to report, I think 20 billion, 200 billion in revenue this quarter. 200 billion. They paid 50. Okay.

[Ian Dunlap]

That's a lot of money.

[Rashad Bilal]

AMD, that's not the same situation at all. Their margins are much smaller. Their revenue is much smaller. Their reliance.

[Ian Dunlap]

Yep, right.

[Rashad Bilal]

Their reliance on that China demographic is much larger. So I'm, I'm a little, this is a, a slight red flag for me and you. I've been big on amd, but this, this, this is something we got to.

[Ian Dunlap]

Revisit because it can cut dramatically into the profitability like. Exactly. And this is one thing I always tell you guys. To look at. The net margin of a company matters because it determines how much they can outspend their customer in terms of market share, acquisition and development into future products. Nvidia, great cushion. If you look at AMD though, net margin, 9.11%. That's different than Nvidia's 55, right? Dramatically. So if they have to pay a 15 vig, they could potentially be flat or run negative paying that fee. Now, I'm sure he'll structure it to where it doesn't disassemble or decimates their business. But let's say if it's 4%, that's a dramatic chop to AMD.

[Rashad Bilal]

Or what they do is the. I think the M130 is the chip instead of being the 18 000. If they're selling it to China now, it's 24, 000. Right.

[Ian Dunlap]

You put that fees get passed on to them. The fees get passed on are smart.

[Troy Millings]

Well, then also you got to look at it like Trump is providing in real time a blueprint of what to do as far as if you're an investor. So president is questionable.

[Ian Dunlap]

Listen, he did good on this deal though, but I got you.

[Troy Millings]

He did good on what I'm trying.

[Ian Dunlap]

To structure this deal. You got it.

[Troy Millings]

Well, okay. So he goes into restructure crypto. While he's willing and dealing in this situation, he makes a meme coin. Makes $600 million on a meme coin. Restructures, got the whole cabinet. That to you is a green light to invest in crypto. And what happened? Crypto booms. Then he's putting pressure on all these companies to have infrastructure in America. They cave in one by one. Apple announces a hundred billion dollars and this Stock goes up $20 as a. As a result, he took all of the important people to Saudi Arabia. We told you that on blackout for sure. All of those companies, if you invested in any, in any of those companies at that time, you're up more than you were then. Now, sure, he goes to Africa. He does the deal in Congo. Took 20 years to get 30 years to get that done. Takes, like I say, he takes a percentage of natural resources. All eyes are on Africa. He's moving around like he's moving around like Gordon Gekko with a get out of jail free car. Like he's not. I don't even think he's looking at himself as a president. He's looking at himself as like dictator, a businessman with a, with a. I could do anything in the world. Imagine if you was a businessman and you had. You could do anything that you wanted in the world, you could, you could run up a crypto. You can go to a different continent, take natural resources, you can bully Fortune 500 CEOs. That's, that's what he's doing in real time. So as an investor, all you got to do is really follow what he's doing. Everything that he's doing is making money.

[Rashad Bilal]

I mean, this is. Look, well, that. I'm gonna get there. Let's get there. We'll, we'll go. I just want to say this point, then we'll go there. If we look at, I believe it was April 7th when he put the tweet out. Obviously this is when the tariffs go into full fledged announcement. It's in effect and it tells you all the countries market historical.

[Ian Dunlap]

Right.

[Rashad Bilal]

April 8th, there's a meeting at the White House. You start seeing activity from government officials around 11:15. By 1:30pm the president text. It's a good time to invest, huh? The market. Since that day.

[Troy Millings]

It's a fact.

[Rashad Bilal]

Since that day, bro. All time run.

[Ian Dunlap]

Yep.

[Rashad Bilal]

This is, this is deeper than mob to us. This, this is, this is like this is the Godfather at this point.

[Troy Millings]

If you could stay focused because there's a lot of distractions in the world. If you can stay focused, keep yourself together long enough, you're gonna make a lot of money in the next three years.

[Ian Dunlap]

Focus on the end game. Yep.

[Rashad Bilal]

Yeah.

[Troy Millings]

If you, if, if you can, if you can keep your head together, stay focused, not get distracted. Put the blinders on and really lock in because it's being laid out for you on this show. It gets laid out for you every week, but in real time, every day, he, he's literally providing the blueprint of what's going to make money. You can't say he didn't tell you.

[Rashad Bilal]

Is there, is there? Look at who, who comes to the White House. Look at the meetings, look at the industries. Right. Like we talked about healthcare. He talked about healthcare. We put a tax on it. Look at what's happened to the healthcare sector, including Lily recently, for sure. Damage.

[Ian Dunlap]

This is probably the most transparent that a presidential administration has had about what to invest in alongside when they're investing.

[Rashad Bilal]

I've never, we've never seen anything you can argue good, bad, block all that out.

[Ian Dunlap]

Take advantage of it.

[Rashad Bilal]

Take advantage of it. Be in the game.

[Ian Dunlap]

Which ones.

[Rashad Bilal]

We're not here to argue. Good or bad. We're not here. Yo, are you investing?

[Ian Dunlap]

Nvidia, Microsoft, Apple 2020. I said 24 karat gold. I said Tim Cook learned it. You can try and have him as a combatant on a SWOT analysis threats you don't want president of the United States I don't care what company run he's fixed that as a result like Rashad said they went up amd be okay Liliberal rebound. We'll talk about that in a little visa I we told you I never seen a CEO look so happy when we ran into him then he gonna have a nerve to I don't know what the economy gonna do. Oh you know these is on a tear and here come the stable coins. Yeah it's not that hard.

[Troy Millings]

Somebody said Ken does it says Rashad Please answer the question. What's the problem with American companies trying to do business in Africa? Sounds like you prefer China there instead. Thoughts? I mean it's not really me having a preference of you know anybody can do business in in Africa. I don't think that I gave off that tone but of course most of the time when any western government does business in Africa is going to be strictly for exploitation purposes only. So I'm a fan of making money. I'm not a fan of exploitation and the only thing that the west has ever done in Africa is is exploit. But you know we did meet with the United States ambassador to Cotevar so I think that there's a lot of opportunity and there's actually honest to be completely honest with you about America is not paying attention to Africa. That's what she said. She's trying to get major corporations to come. They're not.

[Ian Dunlap]

They're under invested.

[Troy Millings]

Yeah.

[Rashad Bilal]

That those are her words.

[Troy Millings]

That's a fact. The people that's really invested in Africa is China and the UAE right now. But America is dropping the ball and they're not focused on Africa.

[Rashad Bilal]

Yeah, straight up.

[Ian Dunlap]

And honestly it's going to be one of when we look back in six, like six years from now, some of the companies that have the biggest headwinds are going to be the ones that invested there because the total, total addressable market for the United States is shrinking for most categories.

[Rashad Bilal]

We had a conversation today with a gentleman who's pretty pretty intuitive when it comes to what's next. And the gentleman literally talked to us about Africa for 20 minutes about the capabilities with that population, with that intelligence, with that youth, with that energy, with the need for infrastructure on every level. It's all there. It's all there. We were in Abidjan shout out to everybody in cultivar development is there. Technology is there. Infrastructure is there. U.S. capital is not there in the way it needs to be straight up.

[Ian Dunlap]

In business you always have to skate to what's next. There's only so much you can double down on a pre existing market. At some point you have to go to a market that has not been addressed. For example like when we Red Panda and when we did market Mondays we talked to us not because we wanted to do an investing show that sounded like anyone else but I think we had the best information and delivered the best returns. If I made you money, please put yes in chat. The same opportunity I think is there in other in Africa and we are not seeing, I don't think some companies are seeing it at scale and you have to. There's a fine line between the colonizing of a continent and then advancing and helping it. But I think the ones that will go there and advance the continent, oh my God, they're gonna be in that multi trillion cap range.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Yeah.

[Troy Millings]

Okay. Question of the hour. Eli Lilly, a company that you've championed 6,000 people in the chat. Hit the like button.

[Rashad Bilal]

I'm with you and I'm not gonna let. I'm with you on this.

[Troy Millings]

A company that you've championed has done very well for like if you look at their five year chart there was 155 years ago and peaked at $972. But not far away from his 52 week low. Right now 63552 week low is 6 23. It was at 972 not too long ago. So it's down over $350. It's 52 week low. 5052 week high. Is this, is this a buying opportunity or should you be exiting stage left.

[Ian Dunlap]

Membership have privileges if you're in Red Panda stock club. I told you three or four months ago it was going to happen. For everyone here tonight. Here's a couple of factors that are moving it down. Not only is the drug issue an issue but also companies, food manufacturers are fighting back against the GLP1 makers. Number two once again on a SWOT analysis on the threat side. You don't want to have someone in the administration that is anti you. That's number two. Number three, honestly if a farmer's and I love the management and Lily I love the company, it's a great greatly ran company, great management. But when a pharmaceutical stock is almost at a thousand dollars there's automatically going to be an instant correction. It was at 129 in 2021. So part of what you're seeing is a pullback in pricing structure to get into a Normal level of where it should be. I think Lily's norm price should be around 600. I don't think they're going to split but the price went too high for this is the equivalent of maybe Nvidia being $1700 and not having any price corrections inside of it. Now the million dollar question. Is it a buying opportunity? Yes. If it falls to 578.85 I would load there. I gave a low to boat price and stock club so I can't give that out. But in this range I will say that I do like it. Biggest lesson though, so we don't have a square incident. Anytime you're down 25 in a stock you liquidate and then look to buy in at a better price. And this is why I say regardless of how parabolic the stock will move up or down, you want to know where to invest in advance. So if it gets to those levels. So even if you just do Fibonacci retracements, the 50 retracement is 551.74. If it gets to 551.74 I like it there. Four or five year hold. Absolutely. Do I think they'll combat the drug loss issue and the development and you need of AI for sure. Give it time. But 551 is another area in which I like it at. If you bought it at 879 or 790 and you were buying in those middle ranges where you shouldn't be buying look to liquidate. But for the most of the people you should have a sub 3 400. You shouldn't be affected at all.

[Rashad Bilal]

Yeah, this is, this is still a strong company. This is still amazing in healthcare. It it feels like is very reminiscent of people who've been with us since day one. They remember in 2021 Nvidia was a stock that had a drastic pullback and it was trading at 169 and 172 and 185 and it was like can it get to 200 and then it gets 200 and then nobody ever remembers the fact that it was at 169. And then meteoric run to over a ousand and splits 10 to 1 and now 4 trillion in market cap later. Greatest company we've ever seen. Lily is a strong company. Why did it have a drastic pull? Obviously the healthcare sector has had a pullback like we just preferenced earlier. But they miss. Right. Sometimes when you're going through trials you're going to miss and the GLP1 pill form, there was expectation that it would have a better performance when it came to weight loss. It slightly missed and that's okay. The fact of the matter is that they're still going to be the leader in the space. And when the pill form, when, not if, when they get this corrected, it is going to again, when we talked about Tesla and the Robo taxi, that's going to be a game changer for the company's revenue. That pill form is going to be a game changer for the entire healthcare space, the glp. So right now, right, so we'll go via Zempel right now, people have to inject it, right? If you ask most people, would they rather the injection or the pill? I think they had a survey, 90 of the people said they would much rather have it in pill form. The thing about the pill form is that it doesn't work as efficiently as the injection just yet. When it does, which will happen, they'll get these trials.

[Ian Dunlap]

Right.

[Rashad Bilal]

You're going to see again it, again it will change the way healthcare looks.

[Ian Dunlap]

Now.

[Rashad Bilal]

Ian, you brought up a good point. You said that. Yeah. If I'm from the food industry, I can look at it two ways, right. I'm going to serve people and they're going to eat glutlessly and they'll have this as something that they can use. Right. Or I could look at and say like hey, people are really being more health conscious. This, this could disrupt, disrupt my industry. The thing about Lily is that they own, they don't only make the GLP1.

[Ian Dunlap]

And they're not solely relying upon, they're not like other pharma companies.

[Rashad Bilal]

This is not a noble story. That's not the only thing that brings in revenue for the company. Again that theme of American companies, right. Novo, not American company.

[Ian Dunlap]

And going back to what I just talked about, Thematic investing, an investment into Lily is say that you think it's permanently going to fall or continuously have a decline is to say that there isn't a need for the drug. Whether it's. You can talk about the positive or benefit side effects of it. But do we think that the sugar companies are going to win with RFK in office or the pharma companies? I want to break it to you, the pharma companies have way more lobbying and Lily's a better run company. So yes, did it miss But I think people have to realize, like you just illustrated, that isn't even Lily's main focus as well. And I think they have a good suite of drugs that will sustain Them. But I do think that the mispricing of Lily because the Novo got so hot, Lily ran up as well.

[Rashad Bilal]

Yeah. And if they change marketing, they've changed marketing around it. Right. When we thought weight loss, we only thought Ozempic. It was like band Aid. Right. For the. That was the thing. And now you hear what go a little bit more. I see more commercials for it. I see Z pound more. I hear it on the news more, I hear my. So it's not strictly oic.

[Ian Dunlap]

Right.

[Rashad Bilal]

So it again, the pill form is going to be.

[Ian Dunlap]

I mean we given a cratering of noo, I'm not surprised at the pullback. And I also know Lily is going to adjust out because like if you see what the. The source of the Wegovy or Ozempic is, it isn't probably the healthiest source extraction method to use Gila lizard venom to lose weight with. So like Lily's going to be. I'm just talking about from a management standpoint, like there are certain companies that management or like founders or CEOs are incredibly talented and once in a lifetime. That team at Lily is too amazing to be anti them. I do think the price needs to be restructured. And we're seeing that key word though, asymmetric risk to reward. If you invested that Lily at let's say 700, to double your money, you needed to go to 1400. How many stocks in American history were able to sustain a fourteen hundred dollar price or more? The price is just being reflected in the. Yeah.

[Rashad Bilal]

Down 18. 18 for the year. I'm glad you talked about thresholds. If you're the stock, if you're holding an options contract, it's kind of the same thing.

[Ian Dunlap]

Right.

[Rashad Bilal]

We know our plan before we enter into any position. If it gets to a certain threshold, we're gonna sell that call. Right. If it's 20. If it's 30, it's 40. I know I've done AMD to 60. And so it's just about your threshold. At a certain point, you don't want this thing going down 95 and you're like, all right, hopefully we can come out of this, have a threshold where you want to exit.

[Troy Millings]

So. So are you bullish on. On it right now?

[Rashad Bilal]

I am, yeah.

[Ian Dunlap]

Thousand percent.

[Rashad Bilal]

Yeah, I'm still there.

[Troy Millings]

Some use pipes, others use injections.

[Rashad Bilal]

Yeah. Paul, I've seen some of these. These comments in the chat post. Separately, you know, it was like they're gonna inject it out, you know, syringe, soul.

[Troy Millings]

Separately.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Yeah. Frank.

[Troy Millings]

The devil.

[Ian Dunlap]

When all Time is drunk. That. That's. I think this is gonna end up being a blessing for Lily because I think they too was trying to catch a wave and it's benefited them. But sometime riding another person's wave ends up backfiring on you. I think they'll focus on a couple other key areas because from just a legislative standpoint, how far can you push how much person. How much weight a person loses over a certain period of time?

[Troy Millings]

And we still don't know. We still don't know the effects of this whole thing.

[Rashad Bilal]

Long term.

[Troy Millings]

People start to have kidney failure or heart disease or a variety of different things.

[Ian Dunlap]

Who knows what the intentional issues and.

[Troy Millings]

Who knows the lawsuits could be.

[Ian Dunlap]

Yep.

[Troy Millings]

Outrageous. We're mine. To the situation. Shout out to two chains.

[Rashad Bilal]

Yeah. Shout out to true.

[Ian Dunlap]

I heard. You know what I mean?

[Rashad Bilal]

Drop the little bar in there. Some guys you might know, drop the.

[Troy Millings]

Ball for us, man. That's dope, man. You know, growing up, you always think of. You always dream about getting mentioned on a rap song.

[Ian Dunlap]

Yeah.

[Troy Millings]

And we've been mentioned on a few rap songs before. Shout out to Busta Rhymes and a bunch of other people from my neighborhood and stuff like that. But he personalized it, said our names. And you know, Tucson, he's actually a legend for sure. It's like a random rapper saying your name.

[Ian Dunlap]

That's a legend.

[Troy Millings]

True.

[Ian Dunlap]

True.

[Troy Millings]

Shout out to two chains. The Larry June project. We gotta get him on here.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

Another one.

[Rashad Bilal]

Yeah, we was close, man. We had a slight scheduling conflict. We missed him, but hopefully.

[Troy Millings]

Larry June.

[Rashad Bilal]

Yeah.

[Troy Millings]

Eyl.

[Rashad Bilal]

Yeah, recently. A year ago. Yeah, scheduling conflict. But hopefully if anybody. I mean, we know the team over there, but yeah, hopefully we can get them on.

[Ian Dunlap]

Yeah.

[Troy Millings]

Larry. Joe. One of the ones, man.

[Ian Dunlap]

Yeah, for sure.

[Troy Millings]

S P bear market. Are we.

[Rashad Bilal]

No, there's no.

[Troy Millings]

There's no chance of a bear market happening anytime soon.

[Ian Dunlap]

There's always a probability. Oh, but. But while I'm in my presentation mode, something I got once you guys have put into chat. GPT. I talked about it before, but maybe some of you haven't heard it. Altman Z score. So I want you, this is the prompt act as a world class investor. Look at the 500 companies in the S P500. Grade them with an Altman Z score and tell me the probability of the s P500 going into recession. Z score is a probability for a company going into bankruptcy or having extreme financial issues. So even though, let's say. And also too, you got to factor in the weight in it of the S P500. If a bunch of those companies begin to have issues, guess what? They're going to have a little board meeting and we go reallocate. We're going to see some companies get called off the bench.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

And things are going to get restructured.

[Rashad Bilal]

We'll know like it'll be pretty obvious if there is.

[Ian Dunlap]

Right.

[Rashad Bilal]

Like we will see Nvidia pullback into correction territory. We'll see Microsoft. Right. We'll, we'll see these trillion dollars those companies are weighed so heavily inside the S P that it'll be very obvious. Right. Because they move the market. It'll, it'll be the inverse. And by recession we mean two negative quarters still.

[Ian Dunlap]

Or, and even with that there is a reimagining of what two negative quarters look like.

[Rashad Bilal]

So one, we didn't get to two.

[Ian Dunlap]

And, and we had the negative pullback that we wanted in April. If I made you money, please put yes in chat. Spy got down to 482. I, I doubt we take off and we drop from 635 back down to maybe a 510 level. And I can even say that they're probably in that April. It was an over correction out of fear. It wasn't a logical based pullback. But the market pulls back and I think a lot of times people want this big short because of the big short and Michael Burry but once again in that time 03 to 05 getting 500 return is like the equivalent of getting 5000%. Now that's a lot of you who are able to get 4 or 500% just holding long term.

[Rashad Bilal]

Yeah, we're seeing it.

[Ian Dunlap]

So just continue to hold for the long term. The, the quality of companies and selection of companies into these indexes, particularly qqq, spy, vo, vti, VGT are too strong. And the other part that is not being factored in. When people keep asking for a correction or recession, we as investors and buyers into the market are more sophisticated than we've ever been. That part like all these opportunities that they're gone in an instant. Like had this been 10 years ago, that April drought probably would have lasted three or four months. It lasted a week.

[Rashad Bilal]

Here's the other part about what you're saying, right. Like people will say I can't wait for a pullback. Can't wait for a pullback. The pullback comes and then they do nothing. They're like oh it's gonna keep going.

[Troy Millings]

Lower or you think it's going to keep going lower.

[Rashad Bilal]

Exactly. So you don't do anything right. Meanwhile, when it gets lower, like you said, sophisticated investors. And I think that's why this is such a unique time. Like when we talk to people and they're showing, talking about percentages, they're not talking like 7, 8%. They're talking, hey, I'm up 400, I'm up 600. I'm up 193%.

[Ian Dunlap]

This is long term. This time we're not even including the options or futures trading. This is just long term.

[Rashad Bilal]

I'm like, do you even hear what you're saying? Like, that is absolutely incredible. So like you have to take a. You have to be prepared, you have to have reserves. So we always talk about that in your money market, have reserves. Because in the event that there is a pullback, right. This is opportune time. If there is a correction, even better. The strongest companies will be here.

[Troy Millings]

Well, you also have to dollar cost average in sometimes even on the pullback. So you don't have to put everything in, but you can 50, 25. And then, you know, do it like that. Because that is a real concern.

[Rashad Bilal]

It is.

[Troy Millings]

Nobody wants to put money into something. Then it's another 50 drop. We saw that happen with crypto. Buy the dip. And then it just keeps dipping. It's like limbo. It's like, what's that thing you just keep going. How low can you go?

[Rashad Bilal]

Limbo.

[Troy Millings]

Limbo. That's the name of the game.

[Ian Dunlap]

Yeah, yeah.

[Rashad Bilal]

But even if they.

[Troy Millings]

Whatever happened to limbo, we never.

[Rashad Bilal]

People stopped doing that.

[Troy Millings]

Like, there's a lot of these McDonald's, there's a lot of these games that was just wiped out.

[Rashad Bilal]

Video games. That's what happened.

[Ian Dunlap]

Are we going back into our blackout.

[Troy Millings]

Bag or people might not be physically.

[Rashad Bilal]

Could you do that?

[Troy Millings]

Able to do that anymore? That, that speaks to the wellness of society.

[Rashad Bilal]

You think you can do that limbo? Yeah. No way.

[Troy Millings]

It depends on how low it is.

[Rashad Bilal]

But that's the point.

[Troy Millings]

No, I'm just saying I'm not, I'm not like and Ringling Brothers Circus. Like, I can't like two, two feet off the ground, but four feet, no.

[Rashad Bilal]

Shout out to the Jamaican master. They. I know a couple.

[Ian Dunlap]

Oh, for sure, for sure. But one day it won't be today, but one day we'll have a conversation about how technology companies have affected the health of generations and how a lot of those games and moments that we had to bond went away because of said technologies.

[Rashad Bilal]

Yeah, yeah, yeah.

[Troy Millings]

Okay. It's the 9 o' clock hour. You know what that means? Put the kids to bed for sure.

[Ian Dunlap]

And if you want to learn how to get rich from the market, go to ianvest.com if you want to know where to get in, where to get out, Stock club call will be tomorrow at 3pm Central. If I made you money, please put yes in chat. But if you want to know which companies are going to fall apart before the world knows it, three to six months in advance, where to get in, where to get out. Three different prices for every stock stock club prices are in Kajabi. So if you don't want to wake up on CNBC one day watching it and see your portfolios down 30, I'll let you know what to do three months in advance. Go to Ian invest.com and join Red Panda Stock Club. I will see you guys next week in Atlanta. I am 62 pages deep in research. I gotta make my final 80 slot. How much time I get Sunday, 45 minutes. Yeah.

[Rashad Bilal]

What you need anymore?

[Ian Dunlap]

I'm good with that.

[Troy Millings]

No, you know I like to clip.

[Rashad Bilal]

Yeah. Ian, on fourth slide, you're like, y', all, I only got three minutes left.

[Ian Dunlap]

Yeah, go through 50 slides real quick.

[Troy Millings]

I will say this too, because speaking of Invest Fest, a few people, DM John Hope Bryant. Like, you know, we had the, the sweepstakes where you can enter to win opportunity to be on stage with him and like, you know, talk about your business and then he's going to give a grant and all that. You'd be surprised. At least four people DM me like, it closed the hour early on the website and, you know, we got them sorted. As far as the technical team, there was an issue that they actually closed an hour earlier than it was supposed to close. But why are you waiting to an hour before it closes? Why are you. Why are you waiting to an hour? We told you five weeks ago. Why are you waiting to the last hour? Literally. And like I said, it wasn't just one person. That was the. That was the craziest thing about it. There's at least five people. Why are you waiting to the last literal, the literally. You're waiting to literally the last hour. You had at least four to five weeks.

[Rashad Bilal]

Spend your money on the last hour.

[Troy Millings]

How you do one thing is how you do everything. You gotta prepare, shout out to all of the people that got selected. Appall judges pitch competition.

[Rashad Bilal]

Yeah.

[Troy Millings]

Check your emails, please. If you did not receive an email, unfortunately this year you were not selected. But that doesn't mean that you don't have a good product on your hand.

[Rashad Bilal]

Yeah. And you should still be at Invest Fest because there's definitely people that you're going to be able to share your ideas with, people that are looking to partner with you, people that are looking to invest in you and maybe you could invest in others. So is it all encompassing?

[Troy Millings]

Okay. 63, 6200 people want to check in. Yeah, man. Another one.

[Ian Dunlap]

Blue Stripe, I love you. Don't play with me. My yes. And chat is legendary and we already know how many people I made money. If I made you money, please put else in chat and let's let Blue Stripe know I'm not playing.

[Troy Millings]

Oh, Blue Stripe.

[Rashad Bilal]

What's that?

[Troy Millings]

It's unfortunate.

[Ian Dunlap]

About the loop.

[Rashad Bilal]

Not about the loop.

[Troy Millings]

Okay.

[Ian Dunlap]

I'm just looking in the comments. Oh, oh, oh.

[Rashad Bilal]

I ain't see it.

[Ian Dunlap]

I a. Yeah, I'm looking. Comments.

[Rashad Bilal]

Okay. I thought I missed something. All right, got you.

[Ian Dunlap]

I got. Okay, I called Nvidia 27. Go to rolling out article 2017 stock of the year. Hold on. Rashad, didn't you say micro strategy was your stock of the year?

[Rashad Bilal]

It was in his. It was in his five for sure.

[Ian Dunlap]

Like we not gonna play Internet games. Not. Not on Al Gore's Internet. Come on. I know I may not be the most likable and all that, but when it comes to these prices and what to invest in, I got this down.

[Rashad Bilal]

All right, can we go here? Because tomorrow is earnings for Corey, the company that we've been talking about. A lot of people are interested. Some people invested after IPO. Not something that we suggested. The six months will finally be up on September 28th. When that lock up for how long people can hold pre IPO, it got up to 146 shot back down. What are the thoughts around core weave reporting tomorrow?

[Ian Dunlap]

I really don't care about the what is reporting. The lockup period is what I care about more. That's a fact to see how many people get to holding that. But as far as a company, I think that the promise of the company is incredible. Not comparing the two, but I remember when Facebook ipo, they had that glitch where the market was messed up and for three or four hours and everyone was like this is a sign that it's not a good investment and it's turned into meta, et cetera. I think Corey will be one of a very important company in this generation. So I wouldn't care so much about what the reporting is, but just the strength of the company. I think it's very pop powerful and probably by next year they should be at that 243 range and then four years out, possibly be at 393. 21. Shout out to Blue Strap. I love you dearly. So I like Core Weave a hell of a lot.

[Rashad Bilal]

I like Core Weave as well. I'm concerned. It's been the same concern since the beginning. It's the amount of debt that they accumulate for the infrastructure, right? Like they have to build the infrastructure.

[Ian Dunlap]

It's intensive.

[Rashad Bilal]

It's intensive and it makes sense. If you're not a hyperscaler and you don't have the capex to spend on a Blackwell chip, having the idea of using their cloud and using their chips, it's almost like it's a rental service in a sense, right? You're allowed to rent the GPU power and use it to your advantage to help scale your company, which makes a lot of sense. But the amount of money that it takes to have the infrastructure to house that is also a lot of money. What is promising for them from my standpoint is the partners that they have. Number one, Nvidia is a 20 owner or has 20 and that helps a lot, which never hurts, right, when they're supplying the highest level gpu, even if it's second tier. So for the people who are not familiar, right, Blackwell is the GPU that they're using now. Blackwell Ultra will be next. By the time Blackwell Ultra comes, there will still be Blackwell chips, which Core Weave will implement. Right now they're implementing Hopper and people are able to use that at a high scale. That partnership is important. But their number one customer, you know who the number one customer is?

[Ian Dunlap]

Recording less informed Microsoft.

[Rashad Bilal]

My baby, Microsoft. And if we saw what Microsoft reported, that's why earnings reports are important. Not from the standpoint of, hey, I might get lucky and they'll have a blowout quarter. No, watch what Microsoft does, because if that is their number one customer and they're looking at Azure and how that is taking a piece of the cloud space to, and you know, Core Weave is inside of that, that, that, that number. And so I'm, I'm interested to see how they report tomorrow, obviously the debt, but seeing Microsoft have such a great quarter and seeing what Azure has done for them for the quarter, that is a good sign from my standpoint for how Corey will look tomorrow.

[Ian Dunlap]

You know who Corby reminds me of? Even though they're like totally different industries, it reminds me of how long Amazon was in debt because it was investing in infrastructure. And when they finally make that positive turn, they were off to the races. So look, if you look at the investment, I think the net margin is like negative 44 but the infrastructure is so important. Like and then you have two types of companies. Some come out the gate and just kill it. But some are investing into the future. I can see them just staying hunkered down and taking a positive turn. Maybe in five or six years they get that net margin issue fixed and then they'll be off to the races.

[Rashad Bilal]

So yeah, and, and again we went to gtc. What was the company we kept seeing?

[Ian Dunlap]

It was everywhere. It was everywhere, bro.

[Rashad Bilal]

Every presentation we just saw it.

[Ian Dunlap]

Who, what, what, what, what's integration? Yep.

[Troy Millings]

Okay, so about Open AI. Open AI's newest model of mega funding talk has AI evaluations once again buzzing. So can we still justify the premium prices paid for AI companies valuations?

[Ian Dunlap]

I think for the big four, I think for Open AI for sure because I think they're, they're best in class or biggest in class. And also too if Apple has to make a significant investment into Apple, you better do it for that other company does.

[Rashad Bilal]

Oh my gosh. Let's go. We should go there after this.

[Ian Dunlap]

Okay.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

So for the Big four. Yes. I think there are a few. I want to see what replit does and where they land. I know their monthly recurring revenue chart came out. They're doing pretty well. So I think for the big four, maybe like top seven. Yes. For everyone else, no. Will this phase eventually phase out of you know, engineers getting paid 300 million or a billion dollars in a year once they have the infrastructure in place. But this, the our guests last week told you this is a multi year maneuver. This is just really phase one. Yeah. So no, I don't think the valuations are too high. I don't think people understand how big these valuations should be in comparison. Like I was playing with GPT5 this week and just the level of complexity that you can plug into GPT5 and how smart it is and they haven't even launched agents for like this. You can piece together some agents but imagine we can just go on a GPT5 or co pilot and say make me a business, deploy the code market and plan, connect ads to it. Recurring revenue model, have the funnel. We're not there yet. We're close though. That is going to help an enterprise business dramatically over the next five or six years. So I don't think that the values may be high enough honestly.

[Rashad Bilal]

We got the valuation of Open AI has gone from 300 billion to now 500 billion in a matter of 12 months. The largest gonna be the largest IPO in history. @ this rate it could be a trillion dollars by next year.

[Ian Dunlap]

Right. And you have to think of it like this. If they can find a way to automate the jobs of half of the workforce, what is that worth?

[Rashad Bilal]

And I think they have a pathway to it because what you just mentioned is the agentic piece and the device or the software. And I was using chat GBT5 and, and it, you know what it first made me think of? I said damn, Anthropic's in trouble.

[Ian Dunlap]

Hello.

[Rashad Bilal]

Every time I like that rocket. But yeah, I've been talking about Claude and I, I still use it but every time Chat GBT updates it feels like it kicks in the door on something that only Claw was doing. First it was the documents, there was inferencing and now it's coding. I'm like all right guys.

[Ian Dunlap]

Okay. He's from, he, he's, he's.

[Rashad Bilal]

The next phase of this thing will be some, some type of device. That's where this is headed that it's going to be agentic very soon and they're, they're fast tracking it. If you look at the cap X for the top seven companies in this space, whether it's Broadcom, whether it's Meta, Microsoft, Apple will get to Nvidia for sure. Those numbers are only increasing.

[Ian Dunlap]

Right.

[Rashad Bilal]

When we talk about $100 billion we, we're not talking over the course of five years.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

They're talking in 2025.

[Ian Dunlap]

Yes.

[Rashad Bilal]

That like that's the number like they're committing to that this year. So what do you think that looks like? As we get more advanced and we have more products and we have more users, that number is going to go up. We are that last week's episode was perfect. He, we keep saying where we at, where we at now we're in the second inning.

[Ian Dunlap]

Yep. And from an intelligent standpoint from when I started first using it in the end of 21, every update is like two grades level better. So when I first started maybe it was like on a third, fourth grade level. Now we're probably two years away from a scientific breakthrough happening exclusively on GPT. I have no pay interest in them. This is not me shilling or.

[Rashad Bilal]

Doing.

[Ian Dunlap]

Any of that but like just how smart is getting at reasoning? Like the most complex investing and mathematical formulas I've ever seen is breaking that in four or five minutes. Here's how to deploy the capital. His risk assessment, his risk mitigation. He's a black shows mouth model to take in consideration like it's PhD level. And then Sam heard all the other competitors saying that they're better and then just put GPT for five out for free.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

To eat market share. Like, no question about it. Microsoft's going to get a payout. They're not going to own any of them when it goes public. The model's too good. It's too good, man. Like, I don't know if people like, if I can take you back in time. Like, this is Windows 95 for our generation. Those you old enough to remember GPT5 may be the best software that's ever been built for consumers.

[Rashad Bilal]

They're. They have 2.5 billion prompts globally each day.

[Ian Dunlap]

Day.

[Rashad Bilal]

They have over 700 million weekly users.

[Ian Dunlap]

And this company didn't make the offer to.

[Rashad Bilal]

That's just up today.

[Troy Millings]

What's the, what's. What's the top AI companies currently in existence?

[Ian Dunlap]

OpenAI of course. I like Perplexity a lot. I like Replit a lot. There was a one in. In science that I saw. I can't think of the name of it.

[Rashad Bilal]

Are we counting that it's AI company. I mean, we could say Nvidia, but they're powering AI. We have to.

[Ian Dunlap]

Yeah, okay, sure.

[Rashad Bilal]

Nvidia, Microsoft.

[Ian Dunlap]

You're talking publicly traded or not?

[Rashad Bilal]

Yeah. Or just in general?

[Troy Millings]

All of the above.

[Rashad Bilal]

All right. Just run off a few and if you miss them, I'll say some as well.

[Ian Dunlap]

Open AI for sure. Perplexity Replica. I agree. I think Claws in trouble.

[Rashad Bilal]

I'm still throwing it in there.

[Ian Dunlap]

And the real to me.

[Rashad Bilal]

And I.

[Ian Dunlap]

Think people are underestimating how well Google is fighting back. For sure.

[Rashad Bilal]

Okay. And I. I will add Broadcom in there.

[Ian Dunlap]

Okay. Yeah, I have an issue with that.

[Troy Millings]

So Palantir.

[Rashad Bilal]

Palantir for sure.

[Troy Millings]

For sure.

[Ian Dunlap]

Yeah, for sure.

[Troy Millings]

Mike. Mike put a company in the text.

[Rashad Bilal]

Mike said, is that innate shout out to Mike. Mike got us in that 4k in that 4k vision today.

[Troy Millings]

Ah. Salute to everybody on the check in. 2200 people, 2300 people on. On a Monday night.

[Ian Dunlap]

Oh. Hugging face midjourney on the Monday.

[Troy Millings]

Okay, put some questions. This is live, so we will be answering questions. If you have a question, put a question in chat.

[Rashad Bilal]

Yeah. And you said. You said Google, right?

[Ian Dunlap]

Oh, for sure.

[Rashad Bilal]

Yeah. Because VO3V03. I haven't seen anything better in terms of graphics.

[Ian Dunlap]

Insane.

[Rashad Bilal]

Yeah.

[Troy Millings]

Asml.

[Rashad Bilal]

Okay.

[Troy Millings]

Okay. They make the tools for every chip maker, so they're essential. They have a monopoly actually in what they currently do.

[Rashad Bilal]

Yep.

[Troy Millings]

But why hasn't their stock exploded.

[Ian Dunlap]

A couple of reasons. I think even though the trade is crowded, it's not just going to give you the same return that Nvidia is going to give. So I just don't think it's their timing. I think the businesses run incredibly well. But certain times in investing themes, PR and narrative matters a lot. I just don't know if they have the, the right combination of timing and, and funds being behind them to maybe pull that off. But I think it's an incredibly run company. And I also want to say this too. What Nvidia has been able to do over these last six years is an anomaly like no other. Like we can't make that be our baseline of expectation. Yeah. But it's kind of hard when you hear all of these high results and high gains to kind of want a lower return. We talked about that. I mean they're a great company. Gross margin 52, net margin is 29. Like they are an amazing company. They just aren't Nvidia. But that doesn't mean that they're not still exceptional. I just think, just don't think that they've been able to pull off the kind of return to have asymmetric reward basis that Nvidia does as a result.

[Rashad Bilal]

This is, this is a geopolitics again, ASML is not an American company, it's a Dutch company. There has been an American and Dutch regulation that has stopped ASML from being a part of one of the largest global economies in the world, which is China. That has recently happened. That is going to hurt your bottom line. The other thing is that the EUV systems, the machine that they build. Right. That monopoly that Shy's talking about which TSM uses to manufacture. Which Samsung uses to manufacture. When you take Samsung and tsm, you're talking about pretty much every semiconductor in.

[Ian Dunlap]

The world and they should be much bigger, but they're facing the same geopolitical construction. Right.

[Rashad Bilal]

And also that's. They can't ship to China.

[Ian Dunlap]

Yep.

[Rashad Bilal]

Then you take into account that the President has put a Europe tariff in effect that was at 30. Again, this is not an American company, this is a Dutch company.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

That's the first piece. The next piece is. And you really break it down. The EUV machines, the price point for the newest one is $340 million.

[Ian Dunlap]

Right.

[Rashad Bilal]

So you think about the capex that it takes to spend to create the machine that you, you have the monopoly on. Then it goes into how many clients can afford to use you as a partner in business. There are very few. So their Client base is very small.

[Troy Millings]

Who are they?

[Rashad Bilal]

The top clients. Dsm, Samsung, intel, they take up a bulk of all the orders that come from asml. When you're only relying on three companies, that becomes tough because supply, demand, supply, demand, inventory. You're really reliant on what TSM does. Right. If they don't have the orders, then you're not needed. But if they do have orders, which we're seeing, the AI that it's picking up and we're seeing Nvidia, then they will become even more necessary. They have a monopoly because they have the machine that manufactures the chips that are going to be designed. It's. We went down the pipeline in, in Eylu on why they're so important.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

If we take those geopolitical matters into account, you can see why this kind of company that is monopoly isn't running the way it should in terms of.

[Ian Dunlap]

It is. Yeah, for sure.

[Troy Millings]

So let's, let's take some questions from the audience. One question. Is Uber, Is Uber still a goodbye?

[Rashad Bilal]

1000% yes. I love Uber. I spoke about Uber. We did a whole presentation here on Market Mondays a few weeks ago about Uber. Shout out to everybody that tuned in and shout out to everybody that invested in it. I love it. I love it long term. I got some calls on it. That autonomous piece is important. When we talked about Tesla, the one thing that Tesla does have that Uber does not is that Uber doesn't have to spend capex on making a vehicle. It relies on you.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Right. And we talked about the profit margins that are at its footsteps. If we get autonomous driving. Correct. The number one spend for Uber is their drivers and the insurance that comes with those drivers. If we have autonomous, you can obviously see where that revenue model will go up. And people are like, oh my gosh, who's gonna want to get in a car with nobody driving? Well, a bunch of people 20 years ago who would get in the car with a stranger and say, take my kid 30 minutes away. Yep, those same people. Now that's just the first revenue model, I think, where it has an even more of a great, like segue to, to really gain profit is from UberEats. Because if I could just put the food in autonomous car. Right. And that just goes. You put it in, it delivers, you take it out, that it becomes even more advantageous. I don't need to have anybody handling it.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Not only do you do Uber Eats, but now you start getting into logistics. Right now you start delivering like doordash does that. So I'm big on Uber is one of my companies going into 2026 for sure.

[Troy Millings]

Where does quantum computing fall under AI umbrella?

[Ian Dunlap]

It's the next evolution at the end of the third wave of AI. We're nowhere near there yet.

[Rashad Bilal]

We're not. Here's how, here's how it works. This is crazy. That's crazy. That was on there. I didn't even see that.

[Troy Millings]

But that's super chat question.

[Rashad Bilal]

Super chat question. So think of it like this. And I had, like I said, I went on this, this walk yesterday with my guys, Max and Ethan and I had two boulders and you know, one was a large size boulder and one was kind of, you know, a little bit smaller. I said this is how you should be thinking about semiconductors and wafers and nanometers. Right. Because it's measured in nanometers. Right. Intel is still making 10 nanometer wafer. Right. Whereas Nvidia AMD have gone down to 5. Right. TSM is manufacturing that and then next stage it'll be Nvidia saying hey, we can do this at 3 nanometers, right. Until still at 10. Right. So that means they can get a more powerful, more efficient, more information on a smaller chip which now can go into more devices where intel is still stuck at this level. After you go from a 3 nanometer it's not going to go down to one. The next evolution of that is quantum computing. So that will, that will change the, that's, I mean that's going to change the entire semi space, right?

[Ian Dunlap]

Whoever wins the Quantum, whoever wins that you're out of.

[Rashad Bilal]

We're not there yet.

[Ian Dunlap]

50 year win.

[Rashad Bilal]

Yep. This is important again and shout out to Tiffany and shout out to Lewis at, over at the video when they allow us to go to gtc. Every company who matters in Quantum they spoke and they had a panel and they were with Jensen. So that tells me the way that they do their product models, right? They tell you every 12 months it's a new chip, meanwhile they're making a new one every six. They're cooking.

[Ian Dunlap]

Yeah. Who will ultimately win that race? Probably open AI. Nvidia for sure. Microsoft for sure. If Apple is smart, if they lose this AI race, they got to make their losses up in Quantum and Google is going to, going to do incredibly well.

[Troy Millings]

Okay, another super, another super chat question. What role does Cisco play in the AI revolution? And is SOFA a good long term stock for my portfolio?

[Ian Dunlap]

Sofi don't love it, but it depends on the price that you got in. So if you got in sub $12 not bad. I wouldn't buy it higher than $13.09 if you got it at 976 or 10. Great. And then Cisco, I think it would be a. It's an infrastructure play if you want safety in a space. But I don't think they're a pure AI. They're more of like an infrastructure. Yeah, investment into AI. They're not pure AI at all but great company though. Solid company to invest in. Good management drawdown isn't that bad. Great investment if you got into it in April. Very safe. Like Apple is safe. Like even though Apple may pull back, it's going to outperform the bond market and like that B tier of the Russell 2000. So you have to worry about anything there. But I think it'd be a misrepresentation to call Cisco a pure investment.

[Rashad Bilal]

Yes, Cisco is. It's in that same lane with like Super Micro and Dell where they, they take parts for AI servers and they assemble them for companies. Solid company I like, I just like Dell a little bit more just because of the who they're partnering with and the, the company that they're partnered with impact that it'll have on the future. That being Nvidia. But yeah, solid company but I'm gonna go with Dell.

[Troy Millings]

So somebody else asked a good question. They said if you buying and holding long term, does price matter?

[Ian Dunlap]

Absolutely. Because it returns how much return on investment you get and how much quicker you'll get to your goal. That's a great question. Like waiting for a great price may be the difference between you retiring in 13 years versus four or five like that. Ask anyone who invested in June how they feel about their investment in versus the prices that are called in April there's immediate return. Like Rashad, you could have bought the same condo at a different time for 500 the return is different. Or let's say 422. The return on 422 is still a good investment. But the price basis in which you got in at 285 makes it a home run from when you first get it. Yeah, so I see. Even if you invest at the top of the market, can you get a positive return? Yes. But are you going to get 70 return? 80, 100, 400 return in some cases like AMD or Nvidia or Lily for when I got people in stock club into those prices it determines how quickly you'll be able to have your freedom. Yeah, price is everything. Anytime someone tells you the price on which you invest in something does not matter. Run Run made off level. Scam made off level. Just buy it anywhere. No, that's true. Futures, options, warrants, short term investing, long term, zero day expiration, micro futures, everything. The price that you pay for an asset matters.

[Rashad Bilal]

It matters. I, I'm with you. Everything that you said is, Is spot on. I want people to not be afraid of pricing in a sense where if Apple was at 209 and then tomorrow is trading at 212. Oh, I missed it. Right? Like you might have missed the first few percentage points. That doesn't mean it's still not a good investment. And so just keep that in mind. Right. Like people like, well, it's up 7% today. I missed it. No, it'll pull back. But just, just keep in mind, like, if you missed the first 3 or 4%, like, you're, you're okay when it's up 130. Like some of these companies we talked about. Yeah. Probably not the best time.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

But just, Just keep that in mind.

[Ian Dunlap]

And we saw this with the meme coin craze when AMC and everyone's like, well, it's going to keep running. And no, every pricing structure matters, even in Bitcoin. Like. And that's why I know why I sounded crazy when it was at 65, 000. Then I said, hey, invest at 20. But yes, you still had positive return, but a much higher return from when I called you to invest in 20 versus where it is now. My AMC still hasn't recovered. AMC was at 72, is currently at 303.

[Rashad Bilal]

Yeah, so they reported yesterday. Oh, this morning.

[Ian Dunlap]

So, yeah, price matters so much.

[Troy Millings]

Oh, would you look at that? 6,300 people on the check in.

[Rashad Bilal]

Yeah. Shout out to y'.

[Ian Dunlap]

All.

[Rashad Bilal]

They. They put down the. The T on her app.

[Troy Millings]

Would you look at that?

[Rashad Bilal]

T on her is crazy.

[Troy Millings]

What do you know?

[Rashad Bilal]

That's crazy.

[Ian Dunlap]

We gonna dribble the ball out, my boy. There you go. I got you. Ah, you're not gonna act like Gil. Shout out to Gail. Oh, first day out.

[Rashad Bilal]

They'Re gonna do it all. They're gonna do it all.

[Ian Dunlap]

Mitigation of risk.

[Troy Millings]

Important.

[Rashad Bilal]

It's very important. Mitigation of risk across all asset classes, for sure.

[Troy Millings]

Should. Should I. Should we focus on buying fractional shares now? Because for some of us companies like Netflix and the 150 range seems far gone.

[Ian Dunlap]

I. I think buy fractional shares has a great impact. If you need to see a win accumulate in your account, it may not lead you to freedom, but what it will do is you. You end up Telling yourself, I know what I'm doing. So if you buy a percentage of a share or a bunch of shares, it may not give you the end goal of, of retirement or retiring early, but what it will do is give you confidence to go into your next investment. Say, I waited for this price. I did my research. I know the net margin, I know where they weigh in terms of the industry. Are they top three. And that builds a habit of doing the right thing over and over again. Long term, would I recommend it? No. I will find an asset that I can put money into that I'm able to have more shares of. That's why XRP was very attractive for people in a crypto community for a long period of time while Bitcoin and Ethereum ran away. That was the price. Reasonably so I think it's a good introductory way to get into the market. But long term, I wouldn't continue to buy fractional. But I agree a lot of prices. Netflix currently at 12, 18, 12, 1831. Yeah, too damn high. But they are killing it.

[Rashad Bilal]

They are.

[Ian Dunlap]

Gotta give them credit that WWE acquisition, NFL is helping, so.

[Rashad Bilal]

And then, you know, the UFC just left espn. They let, they landed over at Paramount. But yeah, the fractional shares, I, I'm not mad at it because I, I think what we want to do is encourage people to invest.

[Ian Dunlap]

For sure.

[Rashad Bilal]

I will say, and this has happened to me and I don't want anyone to feel like they're alone in that. Right. They're watching Netflix run. I talk about all the time. I watched Chipotle run. And I said, when it pulls back, I'm going to grab some Chipotle shares, then I'm gonna get calls. And it never did. It just never did until it ran up to the point where they had a stock split and I was like, wow, maybe it just wasn't for me. And it hasn't really even recovered since that stock split. It's kind of, you know, just been consolidating, trying to figure out this way. Obviously they had a CEO change and now Nichols is over at Starbucks. But you know this, there's other great companies at great prices. And so I say yes, you know, yes, fractional shares, if you, if you believe in that company stronghold. But you know, there's companies that trade under a hundred dollars still very attractive and some that trade under 200. Nvidia being one of those that are very attractive. So yes, anything that can encourage you to be in the market, I'm always going to encourage and support.

[Troy Millings]

I'm 29 year old investor with capital I have, with the capital I have I dollar cost average every two weeks. What's the best strategy for me?

[Ian Dunlap]

Do that for the next 15 years of your life. You got it. Avoid all noise and do that next 15 years of your life by top quality companies, top three in their sector. If you keep doing that, you should have three to six million dollars depending on how much money you're putting into the market.

[Rashad Bilal]

Yeah, I would add into it. Continue to research, find a sector that you really believe in that you see growth in.

[Ian Dunlap]

Semiconductors is a sector. Go pop bottles, enjoy your life and that's it. Two weeks.

[Rashad Bilal]

He's gonna give them the shortcut to it because we don't give enough value. Study technology, definitely study semiconductors. Look at the ETFs that have SMH socks and, and really understand. I think when you understand the role that each one plays, like I said, each one is not created equal. When you understand the role that they play and what their functionality is, the vision becomes so clear like as to how important they are and how we're not going to be able to operate.

[Troy Millings]

Without each one reach one. Between Apple, Amazon. Between Apple and Amazon. Who is better positioned to adapt to the emerging tech shifts.

[Ian Dunlap]

Due to Tim Cook getting his back kicked in for the last 16 weeks for sure. Tim Cook if nothing else. I know some of you were mad at me over the criticism, but I'm always going to be honest about the companies that I love and I'm invested in. He heard the message loud and clear and sometimes as an executive you need to hear that rally cry from your audience or board members to make you course correct. While I like Amazon, the net margin issue has always been a concern of mine. Even though I love the company dearly. Apple is going to do a better job I think over now. Are they better than Nvidia? Microsoft? No, no. But versus Amazon. I think Apple is going to do a lot better.

[Rashad Bilal]

You think Apple will do a lot better in.

[Ian Dunlap]

Facing the challenges over the next four or five years?

[Rashad Bilal]

I am going to disagree with you. I don't usually do that but you know, I'm just a strong Amazon believer.

[Ian Dunlap]

Me too.

[Rashad Bilal]

And based on a couple of things. Them number one leading cloud service, their commitment to capex spend inside of AI, the technology that they have, the database that they have and the innovation that they potentially will have. I still like them a little bit over Apple. Apple again we can, I mean it's like being a dead horse at this point. The commitment, yes. The 100 million 100 billion is where is it to build factories to build more iPhones or are we building a new product inside of these factories? Are we building data centers that are going to power it? Like what is the thing? Right. Perplexity has been on the table and.

[Ian Dunlap]

Have not moved fast enough.

[Rashad Bilal]

And now they didn't. Not even that they didn't even move fast enough. They allowed another company in the device space, Samsung to be specific to come in and say they're nearly about to sign the deal. Like the new versions of Google Phone, not Google phones of the Samsung phones are going to have Perplexity already installed. The app is going to be installed, it's going to be working with Bixby and it's going to be implemented in their phones. Whereas Apple's still trying to think hey can we use that with Siri?

[Ian Dunlap]

Which would be a great catalyst for one of two things. And we're going to invest fest. I'm gonna be very measured and loving and kind.

[Rashad Bilal]

Okay.

[Ian Dunlap]

Either Tim Cook is going to reimagine his role as CEO and move to chairman or he's going to find something to replace the perplexity, fumble and kerfuffle and he's going to find something from Paul Graham to invest in.

[Rashad Bilal]

You remember the treasure chest we used to talk about with Apple?

[Ian Dunlap]

For sure.

[Rashad Bilal]

It used to sit at 140 billion. The number is now at 107.

[Ian Dunlap]

You got to spend another couple.

[Rashad Bilal]

So the question is you're making a commitment into AI. When are we going to see it?

[Ian Dunlap]

After we reimagine his position at Apple.

[Rashad Bilal]

You just gotta stay.

[Ian Dunlap]

I want to be very. I've. Listen, I was the first one.

[Rashad Bilal]

Stay right there.

[Ian Dunlap]

State I think it's time to reinvest into and I'm not saying that he's not one of the greatest executives of all time. Yes, this is true. Okay. The missing of the AI train when I calculated it probably currently is a 50 billion dollar mistake for Apple. If this runs for another 4 or 5 years it would be probably a 750 billion dollar mistake. You could have bought any of them. Yeah, licensed like and this I think it's a great lesson as an executive. You have to always be committed to reinventing and find the thing that's going to kill you. Microsoft is a. Microsoft was dead for 10 years. Barmer went off and ran off with the Clippers and black lives didn't matter. At a certain point they and micro they just focus on reimagining what enterprise software looks like and they've done an amazing and As a result, great jobs. Nvidia invested into Core Weave. Microsoft invested into open AI. So when you're seeing the capital being deployed into the future just for the safety of your own career, having a treasure chest, how do you not. What's the. What do you tell them? We have the money. We got 107 billion here. But you just didn't wire this and make the deal memo to say yo, I'll give you 34 today. But of course you're going to pay a premium. But why haven't you done it?

[Rashad Bilal]

Here's the part why I brought up the operating cash flow. Right. Because that is a drastic difference. Right. It's like almost 40 billion dollar difference. Right. Microsoft once was at 106 billion. Their operating cash flow is now at 136. Meaning that they're still generating revenue at a high level. High level point where the operating cash flow is increasing. Apple once was that sat in that spot is not j ready. You see what I'm saying? And that's.

[Ian Dunlap]

And you're not developing to make this brick better. Yeah. So therefore I'm okay.

[Rashad Bilal]

So this is why I'm going with Amazon, man.

[Ian Dunlap]

I'm not the only thing that why I say while Amazon is a better run company, they've gotten a net margin up because they used to be terrible. Yeah, yeah, it was bad. 10.55% net margin for Amazon and Apple as of right now. And you know it's breaking news. Elon Musk got a legal action against Apple for antitrust violations. Great.

[Rashad Bilal]

That just happened.

[Ian Dunlap]

Yeah. Right now and Apple's at 26. If it was. If the margins were on par. Oh, I'll be with you a thousand percent. And what Apple has always done for the last 10 or 15 years or post Steve Jobs death has leaned on ecosystem and margin too much and not innovation. Biggest ecosystem, biggest number of users. Who's going to that you can never think like there's always going. IBM went through a restructuring. Intel like as much as I pile on intel, man, that penny and processor back, that was the gold standard. I've seen this story before when you don't innovate. At one point in time, Compaq and Dell were the hottest thing ever. And then you have rapid innovation and you miss the next wave.

[Rashad Bilal]

Elon is saying that Apple is behaving in a manner that makes it impossible for any AI company besides OpenAI to reach number one in the Apple Store, which is unequivocal antitrust violation.

[Ian Dunlap]

Fortnite all over again. That one little thing.

[Rashad Bilal]

Xai will take immediate legal action. He said they won't. They refuse to put Xai or Gronk in their must have section. When X is the number one news app in the world and Gronk is the number five among all apps. Are you playing politics?

[Ian Dunlap]

And I can't argue with them. Grok and Xai are pretty damn good. They're pretty damn good. Sha, what are your thoughts? I see you pondering what's going on.

[Troy Millings]

Xai.

[Ian Dunlap]

Just acquire it.

[Troy Millings]

You want it. You use.

[Ian Dunlap]

Oh yeah, yeah, I use that. Xai. It's pretty good.

[Troy Millings]

How many people put in chat if you, if you use xdr. I have a strong suspicion that the vast majority of people in this chat have never used X. Yeah, I would agree.

[Ian Dunlap]

Probably 95 have.

[Rashad Bilal]

Not that that's what he's saying. I can't find it.

[Troy Millings]

He says, he says the number one.

[Rashad Bilal]

News app in the world, no access. Like Twitter exit.

[Ian Dunlap]

Yeah, yeah.

[Rashad Bilal]

X, AI you, you can't find it. Which is what he's saying. Like, how are you, how are y' all not able to search it?

[Troy Millings]

That's not even true though. What are you saying? Because if you can look at it, Instagram is a news app, but that.

[Rashad Bilal]

Shows up on it. What's trending? Right? Like we just saw like the top three apps in the top 10. Instagram probably throttle like they trying to suppress it so people don't find it.

[Troy Millings]

Well, he, he rigged the algorithm. You know, I ended up on the other side of the algorithm. It was a weird experience. It was very weird. Oh yeah. I ended up easy. I ended up on the other side.

[Ian Dunlap]

Yeah, hold on.

[Troy Millings]

I'm not gonna say it, but I ended up, I ended up on the other side of the algorithm. You know, it's one of these things. It was a very eye opening experience because we, it's like I don't even know what to compare it to. It's like almost being in a different universe because I'm on one side of the algorithm when it comes to a certain topic that's like one of the biggest topics in the world.

[Ian Dunlap]

Like the multiverse. Right?

[Troy Millings]

Yeah. So all I, all I see on my feed are things that kind of support my thought process on that. And then I'm in Africa and randomly. I don't know. I'm still not sure what happened. I ended up on the other side of the algorithm and I started to see all of these posts that were completely opposite from the post that I've been seeing for the last 18 months and from like. And it Was. And I'm. And I. I'm just like, there's another side of an algorithm. It's. It's real. It's kind of crazy to be completely honest with you about it because. Because it was. It was like. I mean, I kind of know it, but it's not. But it's compelling stories. It's like highlighted stories. It's support stories. It's like propaganda, and propaganda at the highest level. And you seeing it. And there's a lot of people that are supporting it, a lot of people engaging with the comments. And I'm reading the comments and I'm like, wow, this is interesting. I've never seen the other side of an algorithm before. Have you? Have you ever seen the other side of the algorithm?

[Ian Dunlap]

Not on that topic.

[Rashad Bilal]

And even. And the crazy thing is that it. It wasn't a situation. Was like, oh, his I. IP address changed and we were on a different WI fi because I was sitting right next to him. Mine didn't change.

[Troy Millings]

Something happened, though. Social.

[Rashad Bilal]

It was a social experience. Social science class.

[Troy Millings]

Something happened. But then what I did was I. I put on Instagram. Don't show me these type of posts anymore. And then. Then my algorithm went back to my old algorithm.

[Rashad Bilal]

Oh, you can hit that? Not for 30. For 30 days. It says that.

[Troy Millings]

Well, I just was like, I would not like to see posts like this.

[Rashad Bilal]

Okay.

[Troy Millings]

So I hit that, and then my algorithm switched back to the old algorithm. But I'm like, for the first time in my life, I saw the other side of the algorithm. That's kind of crazy.

[Rashad Bilal]

And you made it back.

[Troy Millings]

I made it back.

[Rashad Bilal]

You made it back, man.

[Troy Millings]

I made it back.

[Rashad Bilal]

Quite impressive.

[Troy Millings]

For sure. Okay. Hypothetically, what would Troy want to see in a potential mentee? How do you offer value to those who already have a lot?

[Rashad Bilal]

What would I like to see? You know what? I'm a mentoring two young men in town. Like I said earlier, I like to see kids who are hungry, who have initiative, who want to learn. The teacher in me likes a student that wants to learn. Yeah, I've been around a lot of people, even now. Like, there's people who are very close to our situation who are. Don't have the appetite to learn. Right. Like, I had a conversation with a former co worker of mine. He was like, even though you came to my house, you sat down with me, you explained this to me a few years ago, and it was great and I appreciate it. I still didn't do it. It took me about a year and a half of watching Y' all market Mondays to do it. And I got involved in investing. Now I'm super thankful for it. So, yeah, I like somebody that has the willingness and is eager to learn, that wants to change, you know, not just their. Their financial wherewithal, but their mental. Right. How you. Like I said, when you start researching, you start learning. You start seeing things so different.

[Ian Dunlap]

So did the world differently?

[Rashad Bilal]

Yeah, so I'm always looking for that. That's what I'm doing. And the fact that these. These young men were. They graduated from our high school, it was. It made it even more special because I'm, like, at 18, like, this kid talking about he's maxing out his Roth ira. I'm like, wait. Like, I text. I'm like, yo, look at this. This is crazy. Like, where they live in our neighborhood. I'm like, nah, we got to make sure they're out of here. So, yeah, eagerness to learn. It's probably the number one thing you get to learn.

[Troy Millings]

Okay, do remember, Invest Festival. So, okay. On Friday, August 22nd, in Auditorium C101, from 12:30 to 1:30, there's a workshop, Legacy and Wealth. Financial and Estate Planning Essentials. And that's done by my dad.

[Rashad Bilal]

The real og.

[Ian Dunlap]

So your dad cool as hell.

[Troy Millings]

Shout out to the bilal. Cool. Offering 50 discounts for anybody that comes to that for a financial plan. So when you. If you get a financial plan, if you ever had a financial plan before, it's like a whole booklet where they go through your whole. It's like getting a medical report.

[Ian Dunlap]

Yeah.

[Troy Millings]

So anybody that goes to that session, we'll get a 50 off to a financial plan. 12:30 on Friday.

[Rashad Bilal]

12:30 to 1:30.

[Troy Millings]

Auditorium C. 101.

[Rashad Bilal]

Yeah, so that's one of the. The side auditoriums.

[Troy Millings]

I mean, how many things is there on Friday? This auditorium, there's the stage, and then there's the vendor marketplace. Right.

[Rashad Bilal]

There's three. We got three. Or we got three of those rooms on the side, you know, it's packed, man.

[Troy Millings]

It's a lot.

[Rashad Bilal]

It's a lot. It's a lot.

[Troy Millings]

It's a lot. It's a lot of competition.

[Rashad Bilal]

Yeah. Shout out to the Bilal Group.

[Troy Millings]

It's a lot of competition on Friday. You got to fight for your spots.

[Rashad Bilal]

Yeah, man. I mean, there's a lot of people.

[Ian Dunlap]

If it.

[Rashad Bilal]

Last year. Last year on Friday, I mean, there was thousands of people. Obviously, we're doing the pitch competition, but the lines for some of these things, it was just like, whoa, people are so eager. So I want people to really download the app, look at the schedule, look at all the programming and like start just circling like yo legacy and wealth finance. I, I need to know more about that, right? Like I got to figure that out. That's something that I don't have. If I'm taking my financial future serious, I need to sit down with professionals that can do that. I'm circling that. What am I going to be doing at 2 o'? Clock? You know what, I gotta circle that. I need somebody to be with me so they can get my food. So I can't miss any of this. There's just too much information that's happening on Friday. Obviously we already know what's gonna happen on Saturday, Sunday, but Friday is like, it feels real personal.

[Troy Millings]

Friday is a very important day. I can't stress that enough. Please, please, please. If you have a ticket, go Friday, go Thursday. Actually get your badge. But be there early on Friday. Spend all day. Friday is very, very, very, very, very important. That's a lot of information on Friday. You're going to get your money back just on Friday. And then Saturday and Sunday is just you and you playing with house's money at that point. But man, be there on Friday for sure, for sure, for sure. Please, please, please, please be there Friday. And shout out to Bo what a 50 super chat says she appreciates us. No, no questions. Just she says she appreciates us. See you at Invest Fest.

[Rashad Bilal]

Oh yeah, yeah, take a picture of that. So when I see you, we take a picture because I appreciate you too. You could have been anywhere in the world.

[Ian Dunlap]

I'm great question from V. Goodfellow. What are you guys looking forward to most for Invest Festival?

[Troy Millings]

I always look forward to VIP night. Selfishly, it's just one of these things that I just have a good survive. It's just a vibe and it's fun. It's fun. Mixed with education, networking. For the first time ever, we got a stand up performance. Carlos Miller from 85 south is doing stand up and we're gonna have Pinky Cole talking business. We got Terence J. Pretty V, Jada, waiter man, myself Ian. So VIP night, you know, it's an open bar, drink responsibly, but it's a great networking, it's fun, it's a vibe. You know, the ladies always come out to VIP night if you're interested in that.

[Rashad Bilal]

Let me. Hold on, say it again. I'm gonna zoom in on. I know he's talking about.

[Ian Dunlap]

You know, the lady.

[Troy Millings]

Oh my gosh. Oh, on Friday we actually doing A book signing in the vendor marketplace. During the daytime twcc, we're doing a book signing. So that's going to be crazy. We're going to be in the vendor marketplace on Friday.

[Rashad Bilal]

That's what, that's what makes it so unique. Like how many people have events and you actually see the people who actually throwing the event.

[Ian Dunlap]

That's very true.

[Troy Millings]

But outside that, I'm looking for Jack Dorsey conversation, of course, Johnson's conversation. Ian Dunlap's performance. 19 keys performance. I'm looking towards all. Every single AI panel that we have. We have. Looking towards the AI panels for sure. I'm looking towards melanin money and miss business. I'm talking about the secrets of the. Of the wealthy. I'm looking towards Man Ross Mack, mg, talking about real estate. I'm looking to, oh, Steve Harvey and Easter and Charlemagne. That's crazy. I'm looking.

[Ian Dunlap]

That's a hell of a lineup, yo. Like, from an information standpoint for what they've created and the performance standpoint, I'm.

[Troy Millings]

Looking towards the Nil panel, too. So much stuff that's happening with this Nil since we got Floor J. We got D. Smith, used to be the head of the NFL Players Association. We got Kenny Smith Jr our girl Joy Taylor will be hosting that panel.

[Ian Dunlap]

Yes.

[Troy Millings]

Stack five Stat will be on the panel.

[Ian Dunlap]

One of the most solid people are.

[Troy Millings]

What are you guys looking forward to? Put in chat. And Ian, what are you looking forward to?

[Ian Dunlap]

Steve, Charlemagne, Issa Ray. I. I think that's underrated. And I don't think people know how hard to put those three together just to get gems on how to navigate the industry. Definitely looking forward to talking to Jack. Definitely looking forward to seeing 19 Keys. Like, 19 Keys and Steve Harvey every year. Make me go back to the room. Like, oh, oh, my God.

[Rashad Bilal]

Real smoke.

[Ian Dunlap]

Yeah, yeah. So them. And then for sure, Magic Johnson. Yeah, sure. I think he's one of our brightest business minds. And, you know, I don't know if people appreciate him in that fashion as much as they should, but I think after that conversation Sunday, they definitely will.

[Rashad Bilal]

Yeah, I think, I think based on, I mean, Magic, for sure. I think working with the Block team the way we've been working with them over the past few weeks, I'm super excited about that. Like, I'm, like, really excited about that. And this is the first time that Market Mondays has come to Invest Fest, so that's gonna.

[Ian Dunlap]

I know.

[Rashad Bilal]

Yeah, yeah, yeah. That's gonna be dope in itself. Like, when we go on stage together it's just a vibe.

[Ian Dunlap]

Like, it's always a good time.

[Rashad Bilal]

People watch this every week and then they see it live in person. It's like, yo, this is really crazy because, yeah, those are the guys I watch every week. I think that's dope. I think selfishly for me it would be meeting the first timers. I love walking into somebody who's seeing this for the first time and just how they're taking this in because it is such a unique experience. I tell, I'm like, I always tell people, you gotta see it. Like, it's one thing to watch it on Instagram and you might watch a replay and you see some clips from some episodes. People that look like you, that are like minded, goal oriented, that have come with a purpose, that are gonna have fun, that are gonna learn, that are gonna network, is nothing like it, man. So when somebody gets to see that for the first time, especially the young adults that we bring in, we got over 100. I know they had a meeting tonight. Shout out to everybody that pulled up to the center tonight. It's. It's nothing like it. There's nothing like it, man. It's really a feeling.

[Troy Millings]

I'm looking for the China panel too.

[Ian Dunlap]

That's gonna be good.

[Troy Millings]

That's gonna be a good one. That's gonna be a really good one, actually. And the Africa panel.

[Rashad Bilal]

Oh, my gosh, that's.

[Troy Millings]

That's actually vitally important. That's actually vital. Everybody, every single person should go to that one. Everybody should go to the Africa panel. We've been talking about it so much.

[Ian Dunlap]

Mandatory.

[Troy Millings]

We've been talking about Africa so much that it's like, yo, this is, this is, this should be a no brainer.

[Rashad Bilal]

Yeah.

[Ian Dunlap]

And I got the email deal room, man. Oh, you got it, you got it.

[Troy Millings]

That deal room.

[Rashad Bilal]

Oh, yeah, yeah, yeah.

[Ian Dunlap]

Can't wait.

[Troy Millings]

Oh, what a time investment is always a good time in Atlanta, man. So much stuff going on.

[Ian Dunlap]

Y' all stressed? You good?

[Rashad Bilal]

Feel good.

[Ian Dunlap]

Good.

[Rashad Bilal]

Feel good. Feel good.

[Ian Dunlap]

Yeah, I think we got a. It's a good time.

[Rashad Bilal]

A couple things this week, then a couple days of like, solace, then it's like, let's go, let's get this thing going. Yeah, let's get to it. Yeah. So you will see us. You will see us in Atlanta. I'm looking forward to meeting everybody, seeing everybody. I want to make the experience as, as wonderful as possible. I, you know, you get those moments where you meet people and you're like, man, I wonder if it's going to be just Like, I'm super conscious of that, man. So I want to make sure that, you know, I'm as punctual and as friendly and loving this person as it seems.

[Troy Millings]

That hotel sold out. So, yeah, I got to get your hotels, man. Get your hotels. But the signature sold out. That weekend concert will be in effect on Thursday.

[Rashad Bilal]

Oh, that's a fact.

[Troy Millings]

Weekend concert on Thursday. 85 South Comedy Show. Official EYL event for Invest Fest. That's on Thursday.

[Ian Dunlap]

Man. Even Blackout Kev. Like, I don't think people know Kev is different.

[Troy Millings]

He beat us for the award.

[Rashad Bilal]

He took an award from us, man. Shout out to Kevin. Yo. His Cracker Barrel skit that he did last week.

[Ian Dunlap]

Hilarious, y'. All.

[Rashad Bilal]

Yeah. Yo, Cat, you gotta chill, man. You got to chill.

[Ian Dunlap]

And he's just a good dude, too.

[Rashad Bilal]

Shout out to Dave Shands.

[Troy Millings]

He had a dope event.

[Rashad Bilal]

Yeah, Podcast. Something was. Went well, man. Shout out to him.

[Ian Dunlap]

Next time, though.

[Troy Millings]

He will be in the building to be.

[Ian Dunlap]

My brother. Please.

[Rashad Bilal]

You're gonna be. He gotta beat to Beaty for a while. I can't even call him BD after that.

[Troy Millings]

Your Atlanta gonna be crazy this weekend, bro. They got the weekend concert. They got invest fest. 85 South. I think there's a football game that's happening on Saturday.

[Rashad Bilal]

Oh, no, really?

[Troy Millings]

There's always a football game.

[Rashad Bilal]

The preseason, right? Let me check.

[Troy Millings]

No, like, that's the first game. Like, that's the first game of college. Last year they had Florida State. It was a HBCU game.

[Rashad Bilal]

Oh, I think that that one's the next weekend.

[Troy Millings]

No, the weekend of investment.

[Ian Dunlap]

Is it?

[Troy Millings]

Let me.

[Rashad Bilal]

Let me check.

[Troy Millings]

There's always a.

[Rashad Bilal]

There's always parking. Gonna be crazy.

[Troy Millings]

There's always a football game. That happens. Look, nightlife will definitely be, in effect, the nightlife situation. But make sure you wake up if you're gonna hang out. If you're gonna hang out. If you're gonna hang out, you gotta get up. That's a fact. Don't come to Invest Fest and go to every party and those and no panels.

[Ian Dunlap]

Mistake.

[Troy Millings]

Yeah, there's a lot of people. There's people that do that.

[Ian Dunlap]

I know my neighborhood.

[Troy Millings]

People that come from my neighborhood. They'll come and go to every party. And I'm like, yo, what panel did you learn the most from?

[Rashad Bilal]

I ain't see one.

[Ian Dunlap]

Yo.

[Troy Millings]

I couldn't even make it into the panels. You just want to come to Atlanta just to hang out. Like, what are we doing? What are we doing? Ladies and gentlemen, it's 2025.

[Rashad Bilal]

They shall remain nameless.

[Ian Dunlap]

And to the clubs. Can you turn the air conditioning on? Last year almost passed out, please.

[Troy Millings]

Oh, and oh, my Lord, please wear a sweater. You know I'm anemic. So. Whenever you go to these type of events, like Invest Fest is usually it's cold, no game. At least to me it is.

[Rashad Bilal]

We good?

[Troy Millings]

Yeah. So wear a sweater.

[Rashad Bilal]

There is a soccer game on Sunday.

[Ian Dunlap]

Oh, wow. Okay.

[Rashad Bilal]

Yeah. No, no. No footballers on that weekend. That's what I said. That. That's big.

[Troy Millings]

That's gonna be 80, 000 and.

[Rashad Bilal]

And Atlanta United is usually tough, so.

[Ian Dunlap]

Yeah.

[Rashad Bilal]

Get there early on Sunday.

[Ian Dunlap]

Yeah.

[Troy Millings]

All right, man.

[Rashad Bilal]

Two hours in, y'. All. We appreciate y'. All.

[Ian Dunlap]

Love y'. All. Yo, man, we made many live. You know what I'm saying?

[Rashad Bilal]

Happy heavenly birthday to Nipsey hussle the great. August 15th is his birthday. Rest in peace to him. His spirit lives on. Obviously. Do all the work we do. He got the Crenshaw on today.

[Troy Millings]

Black Sam.

[Rashad Bilal]

Shout out to the whole family. And then, happy birth. My nephew turning 14, man. Happy birthday, Miles. Love you, boy.

[Ian Dunlap]

Oh. Oh, man. Rest in peace to my high school guy, Brandon Wash. My God.

[Rashad Bilal]

Oh, man.

[Ian Dunlap]

So your family, Levy. I love you, Max. I love you, my Lord. Go reach out to somebody that you love. Yo. Super good, dude. So, all right, y', all, it was.

[Troy Millings]

Your son's birthday too, right?

[Ian Dunlap]

No, it's my girl's birthday.

[Troy Millings]

Oh, okay.

[Ian Dunlap]

It's on February 7th.

[Rashad Bilal]

Guy's crazy. This guy's crazy. On that note, this guy's crazy.

[Ian Dunlap]

Don't go. I'm back.

[Rashad Bilal]

Happy birthday to everybody in your life.

[Ian Dunlap]

Ian, you my dog, though. Shout out to my baby.

[Rashad Bilal]

Happy birthday.

[Ian Dunlap]

Everybody else, too, though. I appreciate y'. All.

[Rashad Bilal]

Yo. Ah, man, it's been real. Y' all be good. Wednesday, huh?

[Ian Dunlap]

What's up on the dinners, though?

[Troy Millings]

The Dennis. Oh, yeah.

[Rashad Bilal]

Come on.

[Troy Millings]

You will be.

[Rashad Bilal]

That's another email. That's a different.

[Troy Millings]

You'll be notified.

[Rashad Bilal]

You know. You know that's a fact.

[Troy Millings]

You know the dinner play.

[Rashad Bilal]

Yo, y' all be good. We'll see y' all Wednesday, man. 10 o'. Clock. Make sure y' all there. Love is love.

[Ian Dunlap]

Son's birthday in chat for discount to Red Panda. Love.

[Rashad Bilal]

All right, y'.

[Ian Dunlap]

All. Love, y'. All.

[Rashad Bilal]

Oh, what you eating?

[Ian Dunlap]

The new banana split cookie from AM pm All freshly baked with real butter with banana, chocolate and strawberry flavors. That sounds amazing. Can I have a bite? I'm sorry, but. No, but you can't split the banana split. Not even a little? Not even a crumb. What if no, please. Mine when it's too legit to split. That's cravenience. Get a 3 pack for 99 cents with our app ampm. Too much good stuff plus tax where applicable.

[Rashad Bilal]

Prices and participation may vary in terms of conditions apply.

[Ian Dunlap]

This is the story of the one he's responsible for keeping a leading healthcare facility clean and safe. And he trusts Granger's high quality H vac cleaning and safety products combined with their world class supply chain to consistently deliver, ensuring he's covered inside and out so he can focus on keeping his facility clean to help protect the health of everyone inside. Call 1-800-granger clickranger.com or just stop by Granger for the ones who get it done.