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Rich Habits Podcast
Meta & Microsoft's $150B Shopping Spree, The Fed's Dot Plot, and Tunnels Under Nashville
00:30:46
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- [00:00]
LinkedIn Advertiser
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- [00:32]
WhatsApp Representative
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- [00:57]
Austin Hankwitz
WhatsApp message privately with everyone Xena.com presents the rich Habits Radar a new Friday episode of the Rich Habits Podcast where every Friday morning we're coming at you with the biggest headlines impacting you and your money. My name is Austin Hankwitz and I'm joined by my co host Robert Kroke. The three things sitting at the top of our Rich Habits Radar this week include Meta and Microsoft capital expenditures, second quarter GDP results, and Jerome Powell's decision to keep interest rates at four and a half percent. And be sure to stick around to the end so you can hear all about Elon Musk's new caves that he's digging here in downtown Nashville. So Robert, let's jump into our first story.
- [01:39]
Robert Kroke
Before we jump into things though, we need to give a huge shout out to our Newest Title Sponsor, Xena.com don't skip this ad because this is very important for all of you listening right now. If you're a side hustler, a small business owner or entrepreneur, you need to know about Xena. Xena is a business expense card that uses AI to help freelancers and incorporated business owners alike put expenses in the right spending buckets. As you all might know, I'm currently flipping three homes in the Toledo, Ohio area and I can tell you it is easy to mistake buying materials for one of these flips and expenses and exchanging them into the wrong houses. Which is why Xena has been such a game changer for me and Krish.
- [02:22]
Austin Hankwitz
And I have a marketing consulting business similar to an agency that we've been building for the last five years. Xena helps us bucket our spending by customer, making it easy during tax Time to figure out who we paid, who paid us, and where to attribute the profits. So go to zena.com rich habits again, that is z e n a.com rich habits. And open a Zena card today. By using our Referral, you'll get 10% cash back on the first $500 you spe with your Zena card. And that is on top of the other insane spending rewards they're offering right now over at Zena. So if you're someone making side hustle money or Maybe you have 50 employees working for you, Xena can help you stay organized. Now, Robert, let's jump into the first headline of the rich habits radar.
- [03:13]
Robert Kroke
Yes, the first headline today is Meta and Microsoft Capex spending. Meta and Microsoft just dropped blockbuster Q2 earnings results with massive capital expenditure projections. Which means their doubling down on the AI boom.
- [03:28]
Austin Hankwitz
Yeah. Meta reported revenue of over $47 billion. That's a 22% increase year over year. And they raised their 2025 CapEx guidance to 70 billion. That's a 50% jump from last year's 28 billion. Microsoft posted $76 billion in revenue with their Azure cloud business growing by 39% during the quarter. They also confirmed that their 2025 CapEx spend will be 80 billion doll, 56 billion in 2024.
- [03:59]
Robert Kroke
And these numbers totaling nearly $150 billion combined are all about reinforcing their AI infrastructure. Think data centers, GPUs and talent. We've all been hearing the headlines of Mark Zuckerberg absorbing all of the talent he can find around the country to stay ahead in the AI arms race. So remember, Capex is for capital expenditures. Think about a company reinvesting their profits back into growing their business however they necessary.
- [04:30]
Austin Hankwitz
And obviously growing the business for Microsoft and Meta right now means reinvesting as many billions as you can get your hands on into this AI stuff because it's definitely moving the needle. Meta CEO Mark Zuckerberg is betting big on full general intelligence. That's what he calls it, full general intelligence. Pouring funds into the super intelligence labs and these AI driven tools that actually back to this moving the needle thing boosted their ad revenue by 9%. Right. So get that they used AI correctly. Back to this idea of reinvesting back in to the business that learn how to use AI for their advertising and it made their ad revenue jump by 9%. That's real money being made. And Microsoft CEO highlighted how Azure's AI services business hit $13 billion in annual recurring revenue. That is up 175% year over year. That is AI specific revenue being generated from Azure's cloud business that didn't exist three years ago. 0 to 13 billion in like three years time. It's kind of crazy. It's obvious that both of these companies are leaning into AI, a long term growth engine. The AI boom is here. It's alive and well. And these tech giants spending $150 billion next year is definitely the fuel for it.
- [05:43]
Robert Kroke
They're just powerhouse companies that are really, really all in on the AI boom. And if you're part of the Rich Habits network, you might remember Austin and I have also talked about the grid and the pave ETFs as good ways to have exposure to the companies who would be realizing this $150 billion as revenue next year, potentially boosting their prices. So keep an eye on those as well. All right, Austin, so let's get into the second headline, which is GDP growth. The US Economy is defined as GDP grew at an annualized rate of 3% during the second quarter of 2025, which is a solid rebound from the first quarter's contraction of a half a percent. According to the Bureau of economic analysis, this 3% growth exceeded expectations, which were around 2.3 to 2.6%.
- [06:34]
Austin Hankwitz
Now, there were two big factors that drove GDP growth. The first one was a massive 30% drop in imports. And the other one was a 1.4% rise in consumer spending. So something you need to understand is that imports subtract from gdp. So if there are more imports, there will typically be a lower GDP that quarter. Which is why when imports surged by 11% last quarter, because everyone is trying to buy their stuff before these tariffs actually were implemented, we experienced a negative GDP reading. Now, since all of these companies front loaded those imports for the year, right last quarter, we are experiencing now a 30% contraction in imports during Q2, which boosted GDP. So to just make sure we're on the same page, during the first quarter, all these companies that didn't want to pay tariffs, because this was before tariffs went into effect, they imported everything they possibly could. Right? That was an 11% surge in imports in Q1. Now in Q2, since everyone imported during the previous quarter, we're not really importing this quarter already have it all. It's all here in our warehouses. And so that is why imports contracted by 30%, positively impacting GDP.
- [07:44]
Robert Kroke
But also something to note is consumer spending grew by 1.4%. This was definitely better than Q1 0.5% growth, showing us that households are cautious, but definitely not retreating. Business investment was also soft with only 1.9% growth, and residential investments contracted 4.6% due to high mortgage rates and economic uncertainty.
- [08:09]
Austin Hankwitz
Now, inflation, which is measured by the PCE price index, ticked up to 2.1%, which is just barely above the Fed's 2% target. The big picture is that the economy is resilient, but not exactly roaring. Averaging together Q1 and Q2, GDP growth was just 1.2%, down from 2.8% in 2024. Tariffs in policy uncertainty are certainly weighing on sentiment, and forecasters expect growth to continue to slow to even under 1% in Q3 and Q4. But these economists also thought we were only going to grow by 2.3 to 2.6. We grew by 3%. So what do they know?
- [08:50]
Robert Kroke
So here's what that all means for you and your money. The stock market and the economy are not the same thing, but the economy and the businesses operating inside of it are definitely impacting the stock market. We always want to see low single digit GDP growth on an annualized basis because that indicates a healthy consumer, strong corporate profitability, and big money in our brokerage accounts when the s and P500 inevitably hits another all time high.
- [09:18]
Austin Hankwitz
You can say that again. Big money in our brokerage accounts. Let's see the more all time highs. Robert. All right, Robert, let's wrap up our headlines here with the Fed not changing rates. I was expecting maybe a little bit of something this week, but. But let's dig into it, right? So the Federal reserve in a 92 vote, kept its benchmark federal funds rate unchanged at the range of 4.25% to 4.5% at July 30 meeting, marking the fifth straight hold of this year. Now, this decision comes amid uncertainty after President Trump's tariffs and their impact on inflation and growth of the economy. Now remember, the Federal Reserve has one job, keep inflation at or below 2% while simultaneously keeping unemployment low. Unemployment has ticked up marginally from 3.5% to about 4.1% over the last two years. Right. This isn't a skyrocket, a quick thing. This has just been a nice small gradual incline. But during that same period of time, inflation dramatically fell from 7.5% to about 2.1 2.2% right now. So I don't know, Robert, what's your take here?
- [10:27]
Robert Kroke
Well, Fed Chair Jerome Powell emphasized a wait and see approach. We've heard that before. So I don't know, I feel like, you know, sometimes it's a little too late I'm not sure, but tariffs are obviously the wild card here. They've already pushed core PCE inflation projections to 3.1% for 2025, up from 2.8% in March. And Powell warned of a meaningful price increases ahead, but we're not seeing those price increases and we've been doing this tariff stuff for about four months now, so who knows?
- [10:59]
Austin Hankwitz
Well, the Fed's dot plot still projects what you were alluding to. Right? 2:25 basis cuts by the end of this year, likely starting in September, if tariff driven inflation does not spike. Now, if we do see some tariff driven inflation, then you can throw those projections out the window. Uncertainty remains high. The markets now only see a 50% percent chance of a September cut, down from near certainty before the GDP data was released earlier this week as well. For consumers, this unfortunately means higher borrowing costs, if that's with HELOCs, personal loans, auto loans and higher mortgage rates since they're tied to treasury yields.
- [11:34]
Robert Kroke
We've all heard the phrase don't fight the Fed, which essentially alludes to being bullish during times of easing and bearish during times of tightening. We saw the Fed raise interest rates at the fastest pace in 40 years in 2022. And we all know what happened to the stock market then. It's obvious interest rates will be lower in nine to 12 months from now. And lower rates means easier financial conditions.
- [11:58]
Austin Hankwitz
All right, Robert, let's now rapid fire through some of our favorite headlines. I brought three. You brought three. I'm going to hit you with mine here. I'm going to talk about trade deals. I'm going to talk about Figma and I'm also going to be talking about the boring companies. Let's kick this off with some trade deals. Trump announced a trade deal with the European Union. The EU will purchase 750 billion DOL dollars in U. S Energy and make new investments of 600 billion in the United States all by 2028. And the second trade deal that took place was South Korea. Right. South Korea also agreed to invest $350 billion in the United States in projects selected by Trump and to purchase energy products. Of the total, about 150 billion is aimed at a shipbuilding partnership, while 200 billion would include chips, nuclear power, batteries and biotechnology. Keep an eye on those trade deals that are getting announced, something I'm sure we've all had our eyes on, including Robert and myself. Here was Figma's IPO. Time of recording. Right now, Figma is trading at $103, which is way higher than that $33 pricing that they were giving institutions. Wink wink. We're mad at you, Figma. You should let us have some shares too. I only got one share, unfortunately, at $33. Maybe next time. But anyway, here's what's important. Figma, at a hundred dollars a share here is now assuming a revenue multiple, a forward revenue multiple of over 50 times. That is absurd. I'm gonna wait for this one to cool down a little bit before I start nibbling at it. You guys do what you gotta do. Personal finance is personal, not financial advice. But I am not touching this one just yet. Let's round off this rapid fire with the Boring Company and what Elon is doing. So get this, Robert. I just read that the Boring Company plans to dig 10 miles of underground tunnels here in my hometown of Nashv, Tennessee. On Monday, the Boring Company and state officials divulged that Musk's venture would dig its tunnels under state owned roadways in order to connect downtown and the convention center to Nashville's international airport with a transit time of eight minutes or less. Now I'll tell you what, if I can jump in one of those little robo taxis, go through a tunnel and get from downtown to the airport, which only takes like 30ish minutes, if I can do it in 8, I'm a happy camper. But dude, there's no way that they're going to figure out how to do all that stuff. It just doesn't make sense.
- [14:24]
Robert Kroke
I don't know if they're going to figure it out or not. Maybe in the next five to 10 years. But I love these headlines because it's so fun seeing all the crazy stuff that's happening in the market. So I want to dig into my three and then unpack Figma because I agree with you. I think we all have to kind of sit on the sidelines and wait a little bit right now because when it launches it three times what we expected and we only got one share each. It's pretty sad for us. So come on, figure out, let us in, give us some shares and let the general public play along with the big guys. We appreciate it. So my three headlines today are JP Morgan, Chase and Coinbase have struck a deal. It allows you to fund your wallets through using your Chase credit cards and debit cards and even redeem rewards and points for crypto. And you can even also buy your crypto using your credit cards and debit cards, although I don't Recommend it. Number 2, this is a huge headline is BlackRock has filed an amendment with the SEC to allow their iShares Ethereum Trust ETHA to be able to stake your Ethereum holdings. And this is awesome because staking, I love staking. I do a lot of staking myself. And what this does, it opens up the billions and billions of dollars being held in these blackrock vehicles to be able to be staked as well. So what does that mean for you? It means you're going to get that 3 or 4 extra percent of earnings if you choose to stake your funds within the Ether etf. So I think this is huge news relative to more adoption of what is happening in the crypto market. And then last but not least, my third headline today is Novo Nordisk is down 63% over the past year and they are getting crushed because of cheaper weight loss solutions. They're also replacing their CEO. And all of this comes after their brutal breakup with hims and hers, which was a great call out by Austin a while back. We've all been making a ton of money from that since this happened on June 23rd. Novo Nordisk is down 30% and HIMSS is up 65%. That's why you gotta stay on top of things and that's why these new episodes are gonna be so fun for us to provide you the headlines and what is happening with your money every single week.
- [16:35]
Austin Hankwitz
So be sure to leave a comment below and let us know if you enjoyed sort of the rundown we just gave you here as it relates to Microsoft and meta earnings, a little bit of Jerome Powell and the Fed, a little bit of gdp, a little bit of economic stuff. If you want it to be earnings related, maybe more economic related, more just headline news related like this boring company stuff with Elon. Please leave us a comment below. These episodes are new. We're open to adding, subtracting and molding them into what makes the most sense for you, your time and our just awesome, awesome listeners that come back every single week. We are super, super grateful. So Robert, we've got the Q and A. As you guys know, these new episodes Q A is exclusively focused on small business owners, right? The Xena card. It is for side Hustler, solopreneurs, small business owners, entrepreneurs, everyone in between. If you're making money Outside of your W2, you need a Zena card. And so we want to make sure these new episodes are answering questions from our fellow small business owners. So Robert, let's jump into our first question coming from Nicholas. End. Nicholas says, hey Austin and Robert, I hope you had a great Weekend. Thank you for all you do. And I look forward to these new Friday episodes. Well, here we are. Thank you so much for tuning in, Nick. I have a question regarding opening a business. But first, here is my background. I'm 23, I'm living at home. I make $70,000 a year in salary. I've maxed out my Roth IRA. I invest $1,000 per month to my bridge account and I've saved up four months of expenses in my emergency fund. I have $30,000 in student loans with an interest rate of 5%. But it is deferred until six months after I finish my master's, which would be around next spring. I'm a part time personal trainer and I have a really good relationship with my boss. I've been wondering about approaching him in regards to partnering to open a new location. At what point all does this make sense for me to approach him with this idea and what are some things that I should know or maybe financial boxes that I need to have checked before going through with it all? I really appreciate you guys help and I look forward to hearing back from you soon. This is a really cool question. All right, Robert, let's talk through this. So Nick is 23 and he's doing great with his normal job making $70,000 a year. It seems like he's also getting his master's degree. Looks like he'll finish that up next spring. So he's got probably, I don't know, let's get like 12 more months, 9 to 12 more months to get that mast master's degree. My first question is, I wonder if he's getting the master's degree while also being a personal trainer. He says he's a part time personal trainer, but that makes me think maybe he shouldn't approach his boss with this idea of a new location until he's wrapped up on his master's degree. Because if his boss does say yes, let's go forward with it, he'll still be suffocating in school, drowning with all those tests and studying, while also trying to do this personal trainer stuff. So, so I guess just like talking through it out loud here, the first realization for me is you should probably finish school before you approach the boss about being a personal trainer, partnering up, things like that. Now let's fast forward nine or 12 months. You have a master's degree, you're making a fine salary, I'm sure. And now this personal training stuff can actually begin to flourish. So, Robert, a couple things I'm thinking about as it relates now to ensuring whenever we do approach this personal trainer's boss that we're doing it methodically, the right way way. So I guess the first thing I'd want to call out is just making sure that your boss doesn't take this as a jab. I'm going behind your back. I want to like, you know, try and weasel out extra money from this part time personal training job. We're in this together. We're a team. You have your own awesome characteristics in business. I love personal training. How can we work together to make one plus one equal three versus just one plus one equal to how it is right now? As me working for, for you, more tactically speaking, I would first want to make sure that if you did do this with your boss, all the paperwork's figured out. So whenever you have your operating agreement, make sure you include the five Ds. This is death, disability, disagreement, divorce and drugs. You have no idea what's going to happen here either if it's with you or with him. Maybe you get in a car accident and you can't do what's expected of you anymore. Maybe he gets in a divorce and the spouse now wants half of all the money you're making. Right. There's a lot of things to figure out with that sort of agreement. But Robert, I'll pause there. I want to get your take here on how this relationship can begin to flourish. Assuming that Nick does approach his boss and they begin working together.
- [21:02]
Robert Kroke
I love everything you said in the approach you said. The only thing that I would click back at and change, I would have the conversation now. So let's assume he has that nine to 12 months to finish the master's degree and get that out of the way so he can focus on the new location. I would want to have the conversation now with the boss and say, hey, hey, I want to do this in one year's time. What can we do now to start preparing? How do we raise the capital? Can we start working together more closely so you can teach me the back end, the ropes, the marketing, the money so I'm prepared and walking in fully ready when we start construction on the new location. That is the only change I would make to your response is have the conversation now because also you will learn from your boss, boss. So you don't have this anticipation brewing over the next nine to 12 months. Is the boss interested or is the boss going to shoot me down? If you get shot down, then you have nine to 12 months where you hone in, you learn everything you can from him and then you go off on your own if you so decide. So that's the only change I would make have have the conversation now figure it out. That way you have nine to 12 months to really learn and get everything dialed in so you're not jumping in head first.
- [22:16]
Austin Hankwitz
So our next question comes from Alex S. Alex says hey guys, I'm so glad you're doing entrepreneur and business related topics for Friday episodes. My name is Alex and I've got one for you that may be related. A couple years ago I partnered with a friend to purchase some rental properties. We have them in an Alabama 5050 partnership LLC and everything is going well except one thing. According to our accountants, we cannot leverage the depreciation against our W2 income because of the partnership LLC structure. Structure. Apparently we have to be considered professionals for passive losses like this to be deducted from our active wages and that would require both of us to work like 750 hours or something in the business per year and we don't do that. Our properties are doing well enough to not need the freed up cash from write offs and it feels nice to be able to write off some of that against dividend income since that's also passive. But since he and I both have household income in the mid to upper 200 thousands, we would obviously like to be able to tap into that against our W2 salaries. Can you think of any way that we can restrategize to start using depreciation like this and write it off against our earned income? I'm at a loss here, but I believe there's something that can be done. Thanks in advance, Alex. Robert, I'll let you kick this one off.
- [23:32]
Robert Kroke
Yeah, Alex, I'm going to shoot you straight. You really have to consider becoming a real estate professional. One of you guys does. Or your wives if you have either of you have wives or spouses. Because at the end of the day there is no cheat code that I'm aware of the that just gets you out of and provides you these magical tax breaks. But it's not that difficult to become a real estate professional. And even if you have a W2 job, I would strongly recommend it. If you want to enjoy these tax breaks. It's not that difficult and the hours are not as dramatic as you think to be able to do this. That's my take. I wish there was a magical wand I could wave and give you a hack. I just don't know of a safe legal one that you could integrate to be able to pull this off.
- [24:15]
Austin Hankwitz
Yeah, I'm right there with you, Robert. And the thing is too, you know Alex, you had mentioned that it's cool to be able to use some of these losses to offset dividend income because that's also passive. Like as your portfolio grows, like I'm so sure that you're going to be able to offset more and more of that dividend income. You can also think about maybe even restructuring some of your portfolio to be more focused on covered call ETFs. Like NEOS funds might be able to offset some of those dividend taxes, assuming they are even taxed. But instead of trying to focus on like, oh my gosh, I need to write off all this depreciation, I need to somehow perfectly do this perfectly. Perfect. Perfectly. Remember, it's not all just about perfectly optimizing your tax situation. It's about building wealth over time. And so if you are able to have some of these rental properties that are cash flowing and you can use that cash flow to go buy more rental properties and then maybe even invest those profits into the markets or whatever else makes sense for you as long as you're trending in the right direction, that's what I would focus on. Not so much like trying to perfectly save 5, 10, $15,000 here and there on a sporadic basis on your taxes because you want to try and some passive losses. To Robert's point, if you or your spouse do want to become a real estate professional, that would make this situation a whole lot easier. But unless that's the case, just focus on building wealth and keeping that cash flow coming. Now our final question comes from Dan F. Dan says, I love that you guys are doing for the Friday podcast and plan to go deeper on topics for business owners. I'm hooked on your other episodes and I'm sure that this one will be equally as awesome. Well Dan, we appreciate your kind words. My friend. Dan Sundays, I own three businesses. I'm looking to sell them each individually over time time. Robert has often mentioned seller financing for people interested in buying businesses. So as I'm a seller, what advice can you offer for me? I love that offering seller financing will open up to many more prospective buyers. But how should I price it? What percentage of the total should I offer to finance? What's a fair rate to charge when given the risk I take? And finally, it feels like I'm obligated to stay involved in the business to some extent given my interest in being repaid. Bottom line, should I go down this path and if how do I navigate it? Robert, this is Your question? You got it.
- [26:27]
Robert Kroke
I love this question. And here's my take on it. Look at it in a magical situation. Yes, you open yourself up to a ton more prospective buyers, but you also open yourself up to being, to winning twice. You're selling the business and you're the bank. So let's say you want to sell this business for $500,000. That's the number. Number based on the multiple that you think is correct off of owner's discretionary income or ebitda. We can figure that out later. But the cool part about it is you can choose what you want to do. Because let's say you find a really, really good buyer, but they may not have 20% down on that $500,000. Well, you can say, hey, that's okay. I don't really need the cash. I'm going to let you do 10% down and give me 50, 50, $50,000. But I want 8% interest over the carry of the entire business. So that's the cool part. You can set your own terms, and they either like it or they don't, because you are opening yourself up to have more potential buyers. Now, here is the kicker, and one of the coolest things nobody talks about in owner financing is default. If they default on the owner financing, you get your business back. You can sell it again. Again, and do the whole thing over which maybe it'll be at a much higher value or be in better condition than when you sold it. So keep that in mind. I think it's a great idea to open up owner financing. Just make sure that you have a good lawyer, draft all the amortization schedules, make sure they draft all the contracts and all the default mechanisms in the contract. But I think it's a really good way to make money twice when selling a business.
- [28:08]
Austin Hankwitz
Robert, what do you think is a fair rate to charge given the risk that Dan here is taking? You said 8%. Is that kind of like benchmark? Would you go double digits? I know you bought Parish Pizza with owner's financing. Was that at a lower rate? And how did you negotiate that?
- [28:24]
Robert Kroke
Yeah, with Parish pizza, it was 6%. But I think 8% is probably the sweet spot right now, given where we're at with interest rates across the board. But it also is one of those things where it depends on how fair you want to be. Because you look at it this way, you could say to the potential buyers, buyer, hey, I appreciate you offering 6%, but right now I can invest my money in Voo or QQQ and make 10 or 12. I don't really want to go below that if I'm going to help you with this owner financing. So I'd really like to get 8% at a minimum and that is a very fair way to have a response as to why that 8% is an important benchmark for you. But it's totally up to you. It could be a family member where you say, you know what, I'm okay with 10% down and 6%. It's all up to you. Personal finance is personal. I would ask for 8% given the conditions of the market right now and what I know.
- [29:19]
Austin Hankwitz
Yeah, so that kind of like comes back to treasury yields. So maybe a just general rule of thumb, Dan, for you to consider here because as the Fed cuts rates, yields are going to change, the markets are going to change, things like that maybe going 2x on whatever the 10 year yield is. Right now it's at 4.3%. So 2x on that is 8.6, which comes right into your range there. Robert. Something to consider, Dan. For sure, I've never bought a business nor sold a business with seller financing. I have sold a business before, but we sold it for cash and equity and it wasn't seller finance. And I guess the only other thing I would add is whenever you sell this business to somebody, you do the seller financing, all that stuff. Make sure they're using a Xena card because I feel like you'll be able to better understand their own spending buckets to make sure that, you know, you've taken on some risk here. You said you do have some interest in getting repaid, right? You want to stay in the business. Maybe that can help you with some visibility, the transparency on how they are spending the money that used to be yours because it was your business to ensure that their business now is growing and trending in the right direction. So that's just a little pro tip for you everyone. Thank you so much for tuning in to this week's episode of the Rich Habits Radar, our new Friday episodes covering the biggest headlines and happenings that are impacting you and your money. Again, if you enjoyed this episode, please leave a comment below letting us know what you liked, what you didn't like, what you want to hear more of. If you have a question for Future episodes, please DM DM us @rich Habits podcast on Instagram or email us at rich habits podcastmail.com super simple. We definitely love these business questions because they're so much fun to answer.
- [30:54]
Robert Kroke
Yeah, there's so many of you out there that are entrepreneurs and side hustlers and business owners and you're growing your portfolio. Ask away. Ask us the hardest, deepest, you know, business questions you can think of that you need help with that are pain points for you. And we will flush them out and do our best to help you and move the needle because we want to broaden our audience. And I've got 35 years of building, selling, buying businesses and I want to share all of that information with each and every one of you.
- [31:24]
Austin Hankwitz
With that being said, everyone, we hope you had an awesome week. And we look forward to seeing you Monday morning with an awesome interview that we had with Reid Hoffman, the co founder of LinkedIn who sold his business to Microsoft for over $26 billion in cash. It is the best conversation I think that I've ever had and you guys are going absolutely love it. So we'll see you on Monday.