Why Nvidia Dragged The Market Down & Jade Shenker (Owning Manhattan on Netflix)

Summary

Podcast Summary: Money Rehab with Nicole Lapin Episode: Why Nvidia Dragged The Market Down & Jade Shankar (Owning Manhattan on Netflix)
Release Date: December 10, 2024
Host/Author: Money News Network

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1. Market Analysis: Nvidia's Influence on the Stock Market

Speaker: Peter Tuchman
Timestamps: [02:35] - [11:33]

In this segment, Peter Tuchman, temporarily hosting the episode, delves into the recent market movements influenced by Nvidia. He explains how Nvidia, a consistently high-performing stock throughout the year, faced unprecedented challenges due to antitrust accusations from China, leading to a significant market downturn.

• Nvidia's Impact: Tuchman highlights that "Nvidia has been the Best of Breed for the whole year, carrying the whole market" but faced its first major setback with the antitrust allegations ([04:15]).

• Market Reaction: The accusations against Nvidia caused a ripple effect, dragging down the NASDAQ and breaking its winning streak. Tuchman notes, "The market was all red throughout the day," marking a rare sell-off in an otherwise bullish year ([06:50]).

• Economic Indicators: Despite the sell-off, economic data remains positive. Unemployment slightly increased from 4.1% to 4.2%, attributed to hurricanes and strikes, but overall employment numbers are robust with "payroll numbers back into the hundreds on jobs created" ([08:30]).

• Investment Opportunities: Tuchman emphasizes that such market corrections present buying opportunities. He advises listeners to "have a shopping list" and consider investing in stocks that dip due to isolated incidents like Nvidia's troubles ([10:45]).

• Market Resilience: Reflecting on the year's performance, he mentions, "We've had 57 record closes this year," showcasing the market's strength despite global uncertainties like wars and economic shifts ([11:00]).

2. Interview: Jade Shankar on Owning Manhattan and Commercial Real Estate

Speakers: Peter Tuchman & Jade Shankar
Timestamps: [14:21] - [34:49]

Introduction to Jade Shankar: Peter Tuchman introduces Jade Shankar, a groundbreaking commercial real estate agent and a star on Netflix's "Owning Manhattan." He praises her innovative approach to commercial real estate, comparing it to successful strategies seen in residential markets like those in "Million Dollar Listings."

Jade's Background and Vision: Jade shares her upbringing in a family deeply rooted in real estate, highlighting the challenges of breaking into a male-dominated industry. She recounts, "I always saw an opportunity to be like, okay, number one, how do we get a deal done?" ([17:20]).

• Innovative Marketing: Dissatisfied with traditional commercial real estate marketing, Jade adopted residential-style strategies. She organized events and leveraged YouTube to globalize her listings, resulting in remarkable sales, such as a commercial condo sold for nearly $1,300 per square foot ([18:46]).

• Personal Journey: Jade discusses balancing personal challenges, including early marriage and divorce, with her professional ambitions. Her resilience is evident when she states, "I'm going to listen to my gut and I know what I'm doing" ([23:10]).

• Philosophy on Work: Emphasizing work-life integration, Jade explains, "I don't believe in work-life balance. I believe in work-life integration," showcasing her dedication and passion for real estate ([25:12]).

Impact and Future Aspirations: Jade expresses a desire to focus on high-value assets, aiming to handle properties worth hundreds of millions. She also touches on the emotional fulfillment derived from helping clients realize their dreams, stating, "There's a beautiful emotional aspect to it where I'm able to help people" ([26:03]).

• Legacy and Family: Motivated by her family's legacy, Jade strives to honor her father's memory and impact on the real estate industry. Her emotional connection is evident when she shares, "He has dementia now, and I just... see the smile on his face whenever he sees all of that stuff" ([32:02]).

• Inspiration and Motivation: Tuchman and Jade discuss the importance of vulnerability and storytelling in building trust and inspiring others. Jade emphasizes, "You're able to walk away from the deal and everybody's satisfied," highlighting her commitment to ethical business practices ([27:13]).

3. Key Takeaways and Conclusions

• Market Opportunities Amidst Volatility: Even in the face of significant market downturns caused by influential stocks like Nvidia, opportunities abound for strategic investors willing to capitalize on temporary dips.

• Innovative Approaches in Traditional Industries: Jade Shankar exemplifies how blending traditional real estate practices with modern marketing techniques can disrupt and revitalize established industries.

• Personal Resilience and Legacy: Both market analysis and personal interviews underscore the importance of resilience, strategic thinking, and maintaining a legacy in achieving long-term success.

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Notable Quotes:

• Peter Tuchman on Nvidia's Impact:
  "Nvidia has been the Best of Breed for the whole year, carrying the whole market." ([04:15])

• Jade Shankar on Innovative Marketing:
  "Why aren't we marketing it in a way that's hitting people globally, that's actually getting people's attention?" ([17:59])

• Jade Shankar on Legacy:
  "I didn't come here to just be another stick figure in the whole scheme of things. I came here to do something. I came here to inspire or to touch someone." ([30:57])

• Peter Tuchman on Investment Opportunities:
  "There's never a bad time to buy the market if you're thinking about a long-term investment." ([12:30])

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Conclusion:

This episode of Money Rehab with Nicole Lapin offers a comprehensive analysis of recent market dynamics influenced by Nvidia and features an inspiring interview with Jade Shankar. Listeners gain valuable insights into navigating market volatility and witness the transformative impact of innovative strategies in commercial real estate. The episode underscores the significance of resilience, strategic investment, and legacy-building in achieving financial success.

Transcript

[Nicole Lapin]

You know, there was this one time before I did my own money rehab when I checked my credit score and I realized I had no idea what it actually meant for my financial future. That's when it hit me. It was time to get serious about my money. We've all had that moment, right? Whether it's saving for something big or finally paying off debt, we all get to a point where we need to make some real money moves. That's where Chime comes in. Chime offers a checking account designed to help you take control of your finances with no monthly fees, no maintenance fees and fee free overdraft up to $200 with sponsors SpotMe imagine overdrafting and not having to worry about fees piling up. Chime's got you covered. Plus, Chime isn't just a financial tool, it's a community. You can get boosts from friends to temporarily increase your spot meet limit, and when you help someone out with their own boost, they can return the favor. Friends helping friends make progress. It's that simple. So why not make your fall finances a little greener? Open your Chime account in just two [e-mail] MNN that's chime.com as in money News Network. Chime feels like progress. Banking services and debit card provided by the Bancorp NA or Stride Bank NA members, FDIC SpotMe eligibility requirements and overdraft limits apply. Booths are available to eligible Chime members enrolled in Spotme and are subject to monthly limits. Terms and conditions apply. Go to chime.com disclosures for details. I love hosting on Airbnb. It's a great way to bring in some extra cash, but I totally get it that it might sound overwhelming to start or even too complicated. If, say you want to put your summer home in Maine on Airbnb but you live full time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co host network which is a network of high quality local co hosts with Airbnb experience that can take care of your home and your guests. Co hosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always want to line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a Scramble so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it. But I'm matching with a co host so I can still make that extra cash while also making it easy on myself. Find a co [e-mail] host. I'm Nicole Lapin, the only financial expert. You don't need a dictionary to understand. It's time for some money rehabilitation.

[Peter Tuchman]

Hey, everybody, it's me, the Einstein of Wall Street. From the floor of the New York Stock Exchange. What a great day to be alive and to be in this market. Ladies and gentlemen, I'm going to be your temporary host, sitting in for Nicole Lapin of Money Rehab as she is on maternity leave. Let's all wish her health and happiness for her and her family. It's a beautiful thing. So stay tuned. We're going to be doing episode after episode every day of what the heck's going on, giving you a forensic breakdown of what's happening into the market as we end 2024. And stay tuned for some of the best interviews I've done since the beginning of this show in 2024, in food, in fashion and finance and fun, we'll be seeing a lot of you. So stay tuned.

Three, two, one. Hey, everybody, it's me, the Einstein of Wall Street. We are here with trade like Einstein. I am Peter Tuchman and we're here.

On the floor of the New York Stock.

Change in the balcony.

History is made in this building every single day.

Somebody with my long term experience, I've been here for 137 years.

It is my responsibility to help teach you how to navigate this market successfully.

[Jade Shankar]

Boom.

[Peter Tuchman]

Hey, everybody, it's me, the Einstein of Wall street. From the floor of the New York Stock Exchange, right under the podium. Forget about it. So look, where are we, you know, at the end of today? Because we did have a little bit of reversal. The market got taken down by Nvidia stuff out of China. There were some accusations about an antitrust thing, a monopoly story. And so there are some major accusations against Nvidia, which has been Best of Breed Jensen, Best of breed for the whole year. It's carried the whole market. It was the first time there was really any kind of bad news on it. And you know how one stock can really drag down a sector. And that's what it did. It took the NASDAQ down. We broke a winning streak in the nasdaq. But it's a day. A day doesn't make a market a Week doesn't make a market. So the market was all red throughout the day. I think we closed down around 25 handles on the S and P Friday we traded and closed at record highs. We had the economic data we were looking for. Unemployment did tick up a little bit and that was majorly a function of the hurricane and some strikes. That was up from 4.1 to 4.2 but still the trajectory has been great with employment and the numbers have been good. Payroll numbers 277 versus whatever. Last month we only had 12 to 14,000. This month we're back into the hundreds on jobs created, non farm payroll jobs. Right. I'm trying to get the psychology and the mental, the mental state because you know when you go home after listening to me you're going to hear everybody in the mainstream media talk about oh my God, it's over, the selling off, it's the beginning of the end, blah blah blah. But that's not necessarily the case. When we see markets rollover it's a lot different than what we saw today. Today's red action, today's sell off in the market. Look it wasn't even a sell off. Today was perfectly honest. 25 handles in the S P is kind of a pebble in your shoe, right. And so you need to understand that we've seen there are some stocks that are so powerful in their sector and in their index that they can actually contribute to the whole market going up or the whole market going down. The reason Nvidia is the stock it is today may get impacted on the monopoly story but for the most part nothing fundamentally has changed. Stocks that got hit today that are not Nvidia that are not going up against a monopoly charge. This is the kind of day that is an opportunity when the baby got gets thrown out with the bathwater and stocks get sell sold off in an index or all over the market because of one particular stock and everybody starts dumping stuff then that stock that you didn't want to pay top dollar for is trading at a discount down $5, down $10. That's the time you have your shopping list. That's the time you see the opportunity you should have a bell flashing, a light flashing in your house. Ask yourself the question. I think like putting post its all over the place the rules right about never turn a winning trade into a losing trade. Always having a plan. When you get into a trade using technical analysis and risk management. When you get into trades always protect your downside risk whether it's an investment or a trade. We've got plenty of wild cards. We've had quite a wild year right between the whole polarity around the election about you got two wars going on, you've got the whole thing in the Middle east and oil and all those things. Yet the market has continued. Yet Friday, one trading day ago, this market closed at record highs across every indices. That is crazy. The S and P is up 27% for the year. The economic data that came out this for last Friday was spectacular. Now all that being said, we've got cpi, PPI this week, very important flag economic information that is the inflation target that basically the Fed will make its decision. The wonder is, are we going to trade the year, Are we going to close out the year at record high? I can't tell you the market's gonna go up, market's gonna go. I cannot tell you that for sure that's going to happen. But the market tells me on a day to day basis throughout all the things we've seen this year that there is so much money on the sidelines. People who haven't jumped in yet, who are jumping in, people are putting money to work. They don't want to miss this boat. So many of them have missed the boat, whether it's in crypto, in equities, in the S, P, in tech, right? Because nobody ever wants to pay the high in all year, every day, every week, every month. This year we've had 57 record closes this year. Imagine that. I don't know how many trading days there are in a year, but we've had 57 record closes this year on the, in the new at the New York Stock Exchange. Isn't that crazy? So it's like I don't want to pay the high, but I'm sitting around watching today's high, maybe tomorrow's low, right? So look, there's always opportunity in markets. There's never a bad time to buy the market. If you're thinking about a long term investment. Disclaimer across the board. I'm not your advisor. I'm just trying to get you into the right mental state and psychology of learning how to trade and invest correctly. Taking the emotion out of it. Your first trade. If you are making an investment in a company, do your homework. Check out the company, the four Ps process, product profitability and the people. That's what makes a good company, right? I learned that from Marcus Lemonis. That's what makes a good company. Okay, but look into the company and if nothing's fundamentally changed when the market pulls back and you don't. You've been holding off on buying the stock because you didn't want to pay. Record highs, have your shopping list and jump in there. But make a determination how much you totally want to invest in that company. And may your first dive into that company be your smallest and then add on if it goes up, add on going up if it comes in, average into the stock. That's the only time you ever average into a stock. Anyway, ladies and gentlemen, it's a beautiful day here. Even though the market sold off, these are days where it's, it's fascinating to see how everyone talks about it, how other parts of the market sort of fall suit when we do sell off. We haven't had that many. I mean, literally we've had seven, eight at most. I would say we've got, you know, you can count them on one hand if you had seven fingers. How many times we've had any kind of consolidation, sell off correction this year at all. And I don't even think we've had a correction. We surely haven't had a crash. But we've had a couple of pullbacks that. A couple were significant, right? But I've talked about it. We had in April, 7% pullback, normal after the best first quarter since 2019, May and June, everybody talked recession, depression, all that stuff that didn't happen. July, a little bit of a pullback. August 5, the Black Monday crash in Japan. That was a very complicated trade. I've told you all about it a million times. September first week, the worst week for tech since COVID The second week of September, the best week for tech since COVID I think that little scenario, that little tidbit basically describes this year, that in September, the first week of September, it was the worst week for tech since COVID That's a huge, that's a mouthful of a statement. And then week two of September was the best week for tech since COVID All in one week. You can have a completely block. Bull markets used to take 10 years, generations to happen. We can be in a bull Market at 11 o'clock and we can be a bear market in the end by the time the market closes. That's the way this market is. The accelerated pace, the news cycle, it's extraordinary. Anyway, I'm going to wrap it up. I love you all. It's a, it's a great day to be alive. It's an amazing market. Wake up, find some kindness and gratitude in your life and your attitude, right? And take seriously this market. I need people to invest in stocks and not stuff. I want you all to consider your life and your life's goals. A portfolio and build it in a responsible, disciplined, consistent fashion. Anyway, I wish you all the best. I love it here. It's a beautiful day to be alive. Bing Bong Shotzi. I'll see you later.

[Nicole Lapin]

Hold onto your wallets. Money Rehab will be right back. You know, there was this one time before I did my own money rehab when I checked my credit score and I realized I had no idea what it actually meant for my financial future. That's when it hit me. It was time to get serious about my money. We've all had that moment, right? Whether it's saving for something big or finally paying off debt, we all get to a point where we need to make some real money moves. That's where Chime comes in. Chime offers a checking account designed to help you take control of your finances with no monthly fees, no maintenance fees and fee free overdraft up to $200. With SpotMe, imagine overdrafting and not having to worry about fees piling up. Chime's got you covered. Plus, Chime isn't just a financial tool, it's a community. You can get boosts from friends to temporarily increase your Spot Me limit. And when you help someone out with their own boost, they can return the favorite friends. Helping friends make progress. It's that simple. So why not make your fall finances a little greener? Open your Chime account in just 2 [e-mail] MNN that's chime.com MNN as in money News Network. Chime feels like progress. Banking services and Debit card provided by the Bancorp NA or Stride Bank NA members, FDIC SpotMe eligibility requirements and overdraft limits apply. Booths are available to eligible Chime members enrolled in Spotme and are subject to monthly limits. Terms and conditions apply. Chime.com disclosures for details I love hosting on Airbnb. It's a great way to bring in some extra cash, but I totally get it that it might sound overwhelming to start or even too complicated if, say, you want to put your summer home in Maine on Airbnb, but you live full time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co host network which is a network of high quality local co hosts with Airbnb experience that can take care of your home and your guests, co hosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always want to line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it. But I'm matching with a co host so I can still make that extra cash while also making it easy on myself. Find a co [e-mail] host and now for some more money. Rehab.

[Peter Tuchman]

Hey, everybody, now that we've done the wrap up on what the heck's going on? Episode 9487, please stay tuned for one of my favorite interviews of the year from 2024. It's coming right at you.

Hey, everybody, it's me, the on Center Wall street from the balcony at the New York Stock Exchange. You know, I bring you food, finance, fashion, and I've never brought you real estate before. But today is something special, okay? I'm here with Jade Shankar.

[Jade Shankar]

Shankar, Like Shankar, like Shankar, like Shankar.

[Peter Tuchman]

You don't even need to think about it too much. Look, let's go back probably five, 10 years ago. I'm sure you've all watched Million Dollar Listings. I know. I used to binge watch it with my son. Right. Ryan Sirhan. Let's talk about it. New York real estate, retail, commercial. Anyway, this wonderful lady who I recently met is a groundbreaking commercial real estate agent. Okay? But she's so much more than that. We're going to let her tell her story. It's a human interest story in so many ways. You know, I love to tell, let people tell their stories about how they got here, what it was like, what it's like now, and what the future looks for them. We're here on the floor of the New York Stock Exchange. There are thousands of companies here. Many of them are in the real estate space, whether it's REITs, real estate investment trust, whether it's huge companies that are commercial real estate companies and whatnot. But it's all about the deal, right? It's all about the deal. Making a deal, making bids, making offers. That's what's exciting. That's what gets us up in the morning. We always tell you, I always tell you to go out there and find something you love to do, get really good at it, and then you will never work a day in your life. And I think that's what we have here with my new friend, Jade. Welcome.

[Jade Shankar]

Oh, my gosh. Well, thank you for having me. Okay. That is, I think, one of the best intros I've ever had, so thank you. And this is probably the coolest place I've ever been. I mean, just the photos that you were showing me upstairs, I feel so grateful. Especially because women who weren't allowed to vote were here and women who weren't even allowed to have cigarettes. Right? Is that right?

[Peter Tuchman]

And think about it. So this building was built in 1903. They started trading outside this building in 1650. Already in the 1650s, there were 26 brokers that used to trade commodities on the bottom of Manhattan. So Wall street used to be there was a wall, and above the wall was just forest, and that's where George Washington was inaugurated. But this is the heart of the financial district. You loved the deal. The art of the deal. So let's talk about it. Tell me a little bit about you.

[Jade Shankar]

Well, I am a commercial real estate agent, and I'm also in the reality TV space on a show called Owning Manhattan on Netflix with Ryan Sirhan and a bunch of other real estate agents. And I'm the only commercial agent. And the reason that I got into it was because my family, I come from a long line of real estate developers, and they've always been male, male, male. And I mean, since I was a teenager, all my dad taught me was, there's always a way to get something done.

[Peter Tuchman]

Yeah.

[Jade Shankar]

So, I mean, I would cold call, you probably remember this, but the Village Voice, before there was Craigslist, before there was any sort of, like, classifies.

[Peter Tuchman]

Classifies. In the back, there were.

[Jade Shankar]

Yeah, exactly.

[Peter Tuchman]

Yeah.

[Jade Shankar]

And he used to have me go through the Village Boys to do for sale by owner and try to negotiate these deals when I was 14 years old. So I always saw an opportunity to be like, okay, well, number one, how do we get a deal done? Right? How do we understand the other person on the side of the deal and what they need in order to get it done? So being a little bit more intuitive to that. And then also, how do we take a building, especially in a market like right now, that commercial is tough. Yeah. You know, commercial is not at the place where it was in 2019, where, you know, everyone was leasing out office space.

[Peter Tuchman]

The world changed about we work. I mean, think about how that's changed. Think about how clothing changed all that and the whole landscape of the real.

[Jade Shankar]

Estate market and Coming from an owner's perspective, I've always been so frustrated because I'm like, well, you know, we have this building, we have these spaces. Why aren't we marketing it in a way that's hitting people globally, that's actually getting people's attention? So, you know, I saw Ryan Sirhan's way of marketing and, you know, doing YouTube and videos and having events, and I was like, well, why aren't we taking this amazing residential approach and why are we bringing it to commercial? Because commercial is what, like a two or six trillion dollar industry? Why has no one done that? And I was like, well, okay, let me try. And I mean, the faces I used to get from other brokers, they were like, oh my gosh, what is she wearing? What is she doing? But I'm like, well, well, your opinion is completely valid and I understand that. But you're talking about it, right? So you're not talking about that other building.

[Peter Tuchman]

There's no such thing as a bad review. If somebody's talking about what you're doing, then you're getting a point across.

[Jade Shankar]

Exactly. And what I saw was the more people talked about something, the higher the SEO was on it and the shares. And you know what? It just takes one person, one person to be like, wow, okay, that girl who threw an event in that commercial space, that commercial space. Actually, you know, this person's looking for a commercial space. Can I connect her? Or you know what, I actually like that she brought 130 people to come see this building. Or her YouTube video hit 1.5 million people between the United States, South Africa, Dubai, Israel. And maybe she is onto something. And that's what I kept on doing. And I was like, you know what, I'm just, I'm going to listen to my gut and I know what I'm doing. And I kept on doing that. And we were able to put a lot of buildings under contract at record, record prices. I mean, even like last year, I think the average price per square foot in Union square was like 600. Anywhere between 4 and $600 a square foot. We sold a commercial condo for just under $1300 a square foot. Because we. It's crazy, you know, so I know that, you know, it's still early and people are still adopting this new way of marketing.

[Peter Tuchman]

Is this a new way to tell? I need to ask. So look, I read about you. I was wanting to find out more about you and there are obviously stories about your dad, right? So tell me that. Give me a little. I mean, you obviously are You. Do you have siblings?

[Jade Shankar]

No, I'm an only child.

[Nicole Lapin]

You don't.

[Peter Tuchman]

You're an only child.

So are you. Are you.

Are you the daughter that your father had, that he really wanted you to get into the business he was in, but he wasn't sure if it was going to be a business that a woman could break into, or were you the son that your father never had? And it was a different thing. Tell me about that. I mean, because we all are a function of our family. Like my father, Eastern European Jews came to America after the Holocaust. I was going to be the doctor that he went on to become. It just wasn't my calling. Tell me about that for you.

[Jade Shankar]

Yeah.

[Peter Tuchman]

Obviously, growing up under your father's. He was a real estate person.

[Jade Shankar]

Yeah, yeah, yeah. So same thing. My grandfather and my great grandfather, they came here from Eastern Europe, from the Holocaust, and they were very strict.

[Peter Tuchman]

Were they in real estate?

[Jade Shankar]

They were in real estate. They came out in real estate. Yeah.

[Peter Tuchman]

So early. Early part of the century.

[Jade Shankar]

Early part. And then they. They came here and my dad was like, you know what? There's something to lower Manhattans. And that was whenever East Village was like, super, like, buy a building for 100.

[Peter Tuchman]

For $100. Yeah, exactly.

[Jade Shankar]

So he bought a lot of things on. In the East Village, in Little Italy and all that, right down the street.

[Peter Tuchman]

What year was that?

[Jade Shankar]

That was in the 70s.

[Peter Tuchman]

In the 70s.

[Jade Shankar]

So he bought like.

[Peter Tuchman]

That was just when people started buying things.

[Jade Shankar]

Yeah, a block for half a million dollars, you could. And he. He went against the grain from the family because they were more conservative. And back then he was dealing with the Mafia. He was dealing with artists who were shooting things.

[Peter Tuchman]

You think about the Lower east side in the 1970s. That's Andy Warhol, Basquiat, Drugs. Just storefronts, building fronts. He used to be able to walk down Avenue A and there was literally rats. There was no nothing. The buildings weren't even there anymore. It was just the facade and people and bums living behind there. Right. And nobody had the vision, obviously, your dad did. Nobody. If you asked anybody, we're not going to touch this with a 10 foot pole. This is going to be dead forever. There's no future to this neighborhood. And if you think about it now, it's like, why didn't I think of that? I could have, would have, should have, like that mentality. So your father did that?

[Jade Shankar]

Yeah.

[Peter Tuchman]

How amazing is that?

[Jade Shankar]

I mean, it was crazy, but I mean, dealing with people who weren't paying rent that were going to hit him With a baseball bat, dealing with that. You have to have chutzpah.

[Peter Tuchman]

You know, the shankers have chutzpah. Let's be clear about that.

[Jade Shankar]

You have to have it. And he always wanted a boy, you know.

[Peter Tuchman]

There you go.

[Jade Shankar]

Yeah, he always wanted a boy. My family is males, males, males, males, males. And you have to keep the family name as well. And he had a girl and he was like, okay, well, ew, it's different. And the way I was raised was okay, because I'm an only child. He had to teach me the business because that's. You have to. But at the same time, it was always where, Jade, you don't have to work and get married. And I got married early.

[Peter Tuchman]

You did?

[Jade Shankar]

Okay, I did. I got divorced early too.

[Peter Tuchman]

There you go.

Give me five on that one. And it was first in, first out. Let's go.

Lifo, fifo. That's the way to go.

[Jade Shankar]

I think it's. Honestly, it was a great learning experience when you come to negotiate, you know, I turn my real estate brand on and I'm like, okay, well, let's, let's really discuss how to get a deal done, whether it's that or separation, whatever it is. But, you know, I think you got.

[Peter Tuchman]

Out of that deal. You got in, you got out. Let's move on, let's go.

[Jade Shankar]

It's good. I have it under my belt. And, you know, I think at an early age I was always just trying to be like, well, how do I prove to my dad? Like, I, number one, I know what I'm doing and I understand I have a competitive advantage because I listen and I'm creative and I'm not afraid to take a risk. Like I actually, I seek risks and I'm like, well, you know, if someone is doing something a certain way, there's always a way to get better and do things differently. And because I'm very confident in that space, I'm like, you know, what, what's needed. What's needed on both sides? And they kind of saw spaces aren't being marketed to the capacity they can be. Right? Commercial for commercial specific. Think about that.

[Peter Tuchman]

We know that. Sorry to interrupt you, but we think about, think about the whole real estate market. Think about just residential real estate, how it's marketed. I'm sure everybody who's watching this has watched some kind of a real estate show, whether it's a million dollar listings in New York or out west. I mean, you stage an apartment, right? And you do it a different way. So residential is always way different than Commercial. So you've taken the commercial thing to a whole other level. I just want to talk about your confidence for a minute, because that's something. Risk, first of all, confidence. Another thing. These are things you can't really teach somebody. Right. I thrive on risk, and it gives me confidence, that ability. I started here on Wall street in 1985. Some people say 1885, but that sense of the adrenaline around this place, the excitement, the risk. Right. The chaos, I thrived on that. For me, that was where I found my energy and I found my confidence. Some people shy away from that. Some people need to wake up, have a coffee, read the paper before they do. Right. You sound. You seem to me like somebody more like me. You come out of the gate, you're like a thoroughbred horse just running for it. Because you just know what you want. Right. You found something you love to do.

[Jade Shankar]

Yeah.

[Peter Tuchman]

You'll never work a day in your life.

[Jade Shankar]

Oh, my God, I love it. I always say it's like. And you probably know it more than anyone. It's like, I don't believe in work life balance. I believe in work life integration. So integrating every aspect of your life into your work. And I love. That's why whenever I met you, I was like, just. I felt so inspired because I was like, you're in the right place.

[Peter Tuchman]

This place embraced you from the minute you walked in because of those qualities that you had.

[Jade Shankar]

Yeah, I want to have an impact, and I want to be able to touch people. Because, yes, there's the deal. And we think about, okay, you know, this is a building. This is someone trying to buy a building. But who are the people behind that deal? What do they need? You know, people don't realize, and maybe they saw this at an early age, and that's people's livelihoods, whether it's a private equity firm and there's families, or if it's an owner who bought something back in the 70s who's, you know, now in his 80s and he wants to sell.

[Peter Tuchman]

Exactly.

[Jade Shankar]

You know, like, those are things that really have such an impact on me. So, yes, it's a business savvy. It's the adrenaline of creating something and showing someone how they can make money from what one person sees as four walls. Or if you can convert that vision into a valuable asset and showcase what you can do with space, get creative. Like, that is what my serotonin, my dopamine is just like, throws it off. That's why I don't sleep. By the same time we're going to work on that. I know we are, but like, there is a beautiful emotional aspect to it where, like, I'm able to help people and, you know.

[Peter Tuchman]

So you're a humanist.

[Jade Shankar]

See, that's how I look at it, right?

[Peter Tuchman]

You're talking about the deal, and the deal has a lot of all this chatter around it, but at the end of the day, it's two people talking about something. Then you get the more you know about them. You sort of start to describe in the beginning of this interview about how you don't know where people are coming from and what this deal means to them. But the way to close the deal is about getting into where they're at on this deal and making connection to them. It's about trust, it's about confidence, and it's about them understanding that you have a vested interest in this being a good deal for everybody. Right. You're able to walk away from the deal and everybody's satisfied.

[Jade Shankar]

Yeah, exactly. And sometimes I feel like that, and you probably know this more than anyone, sometimes you just have to get creative.

[Peter Tuchman]

You got to get creative 100%.

[Jade Shankar]

Not every deal is cookie cutter. And it's not just sometimes the things that you see, but the things you don't see and listening and understanding people and being mindful of. Okay, what, what are the other factors in this? And I feel like that's, that's been something that I'm really cognizant of and, and always trying to make measurable actions towards.

[Peter Tuchman]

And you've done that. So tell me. So the way you're approaching commercial real estate is obviously gotten the attention of Ryan and obviously got attention of the industry. And so you have this show, right?

[Jade Shankar]

It's called, it's called Odi Manhattan.

[Peter Tuchman]

Okay, so talk to me about that.

[Jade Shankar]

Season one was wild. And you know, I was going through like a massive personal shift. I think it was really cool because, yes, people see the selling sunsets as you see the million dollar listings, but like at the same time seeing your life too. Yeah, they're seeing and you know, all of our lives. It's commission, it's deals, it's no sleep. But there's personal aspects to it too. Like what are people going through in life behind the deal?

[Peter Tuchman]

Look, you, you have a social media platform and you have a work platform, as do I. And it's not an easy thing to really open up about people's lives and people's struggles. Right? That's, that's, that makes you vulnerable. But at the end of the day, being vulnerable in front of lots of People. It gets across a different message. Right. And people are able to identify. You're not comparing, oh, my God, she's beautiful. She's got this. Maybe she was given all these silver spoon, all that. No, you're showing your vulnerability. You're showing that you're a human being going through, having an experience, and that makes you so much more attractive in that way. People will identify with your story, people who have gone through what you're going through. Maybe you're going to inspire it. I pretty much guarantee that on this show, you're going to inspire other people who have gone through things to know that they can get through that, that they can go on to find their dream job and find their dream career and find something that moves them and motivates them to be able to be vulnerable, keep going, break barriers and do all that stuff, irrespective of what's going on.

[Jade Shankar]

Yeah. Thank you so much. And it's not every day that I get to meet people like you that truly really, I mean, going upstairs and seeing just your involvement and the history of what you've been through like that really touched. I think I almost went in tears, like, seeing that room of just how many things have happened here and what you've been involved in and what you do. Because I think you're taking a different approach to what has been, you know, a traditional industry. And you're making it interesting and making it fun and showcasing life, making it human.

[Peter Tuchman]

You know, it's a different. That's how we get our message. It's a matter of telling your story. Right. That's what I love do. People will look at you and judge you and, you know, make comments or whatever it may be, but you don't get a point across and you don't really make impact unless you tell your story and let people know who you are.

That's.

That's the point. We're here for not a long time, right? But we're here for a good time. You want to get your message across. You want to move people and impact people. It's not a matter of how many who dies with the most toys. It's a matter of how many lives you can impact while you're here. Right. It sounds to me that was probably your father's message. Even your grandfather, right? Immigrants coming to America went out and found stuff. They went up against it, you know, buying houses on the Lower east side in the 70s. Everyone told them they were out of their mind. And think of it now, I mean, that's that visionary Part of this is what's exciting.

[Jade Shankar]

Yeah.

[Peter Tuchman]

And you seem like you're a visionary in that.

[Jade Shankar]

Yeah, I love it. I mean, that's why I'm here. You know, It's. There's an Australian saying, I didn't come here to fuck spiders. It means. It means that I didn't come here now.

[Peter Tuchman]

What does that mean?

[Jade Shankar]

It means that I didn't come here just to be here. I didn't come here to just be another, you know, stick figure in the whole scheme of things. No, I came here to do something. I came here to inspire or to touch someone.

[Peter Tuchman]

Motivate. Create. Motivate and inspire.

[Jade Shankar]

Create, Motivate and inspire.

[Peter Tuchman]

Cmi.

[Jade Shankar]

Cmi.

[Peter Tuchman]

Okay, so what's the future? What's the future look like for you, For Jade, if I May? You're 28 years old. You've done a lot for 28 years old. Right. You're obviously in the commercial real estate business. You're working with the best people in the industry. Right. In a big way. You have this wonderful show. You've been married, you've been divorced. You have wonderful things to look forward to in the future. What's next?

[Jade Shankar]

I hope to be able to focus on more trophy assets. You know, I love what I do now, but if I'm able to do that for a property that's, you know, in the hundred millions and the 200 millions, like, that is so cool to me. And to be able to just.

[Peter Tuchman]

It's not the money, though, part. It's more than that.

[Jade Shankar]

Legacy.

[Peter Tuchman]

Yeah.

[Jade Shankar]

You know, I think. I think, like, that's so important to me at the end of the day. My dad's in his early 80s or mid-80s now. He had me when he was a little bit older.

[Peter Tuchman]

Right.

[Jade Shankar]

And he has dementia now. And I just. I. To go back home and see him and see the smile on his face whenever he sees all of that stuff. And he knows that I'm so.

[Peter Tuchman]

He was aware. Super proud of you. Of all the things you've done in his industry.

[Jade Shankar]

Yeah.

[Peter Tuchman]

Has he?

[Jade Shankar]

Oh, my God. Yeah. The smile on his face every time I tell him, like, dad, I sold a building.

[Peter Tuchman]

It must be.

[Jade Shankar]

And he saw me on Netflix for the first time. Like, he just started tearing. He actually teared. There's one scene where a girl. I go to an event and. And this girl goes. She's like, you just came here to show off your stupid outfit. And she chuckled because he's like, he knows me. He's like, yeah, she did.

[Peter Tuchman]

Exactly. There you go.

Check it out.

This Is it. This is my costume, you know, my.

[Jade Shankar]

Family name and making him proud. And also a different type of asset. I would love the opportunity to focus on those assets and try to strategize around that, because I just think it's so fun and I have so much energy, and I just. That would be the next. The next step for me.

[Peter Tuchman]

Awesome.

[Jade Shankar]

Yeah.

[Peter Tuchman]

Well, you know what? Look, for me, I come here and I bring people up to this balcony for them to tell their story. And the most important for me is for them to motivate and inspire other people to be their best self, to find something they love to do, to go out there and get other people to look. We are living in this really kind of wild, crazy world. Right. Obviously, you've had, you know, you've had some obstacles along the way. Think about this. You know, like Covid. Post Covid. Right. I mean, that really threw everybody. You were. You were What? You were 23 years old. Right. So many people have. There's so many people who have gone through so much spiritually with mental illness, with a lot of. A lot of obstacles in their lives over the last five years, and to be able to have the excitement that you have for what you do, to have broken so many barriers in an industry that is. Right. That's. That's great. I. You're disrupting the heck out of whatever you're doing. And look, and you're coming out of it with a smile. So I'm really happy you're here with me and telling your story.

[Jade Shankar]

I appreciate it so much. Really.

[Peter Tuchman]

And you're here on Wall street, and really, Wall Street's embracing you in a big way. Think about it.

[Jade Shankar]

This is so. This is so surreal.

[Peter Tuchman]

We started the conversation as. No, I'm a firm believer. And I always tell young people who ask me about, you know, how do you get. There's no door that you can't knock on. The worst that you're going to get is somebody saying no. Right. We learn so much more from our failures than we do from our successes. It's not a matter of how many times you get knocked down. It's a matter how many times you get back up and keep moving. Right. And I'm sure you've had that happen to you along the way. And I love being told there's no way you're going to succeed at that. You can't do that. And I love proving them wrong. And you've clearly proved everybody wrong. Jade Shanker, kicking ass, taking names.

I love you.

And that's all I got to say about that.

[Nicole Lapin]

Money Rehab is a production of Money News Network. I'm your host Nicole Lapin. Money Rehab's Executive producer is Morgan Lavoy. Our researcher is Emily Holmes. Do you need some Money Rehab? And let's be honest, we all do. So email us your Money questions money rehaboneynewsnetwork.com to potentially have your questions answered on the show or even have a one on one intervention with me. And follow us on Instagram @moneynews and tiktokoneynews network for exclusive video content. And lastly, thank you. No, seriously, thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make. This episode is brought to you by Progressive Insurance Fiscally responsible financial geniuses, Monetary magicians. These are things people say about drivers who switch their car insurance to Progressive and save hundreds. Visit progressive.com to see if you can save Progressive Casualty Insurance Company and affiliates. Potential savings will vary. Not available in all states or situations I love hosting on Airbnb. It's a great way to bring in some extra cash, but I totally get it that it might sound overwhelming to start or even too complicated if say you want to put your summer home in Maine on Airbnb but you live full time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a Co Host Network which is a network of high quality local co hosts with Airbnb experience that can take care of your home and your guests. Co hosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always want to line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it, but I'm matching with a co host so I can still make that extra cash while also making it easy on myself. Find a co [e-mail] host.