“Prepare For 2025!” Patrick Bet-David Exposes The Ultra-Rich, Free Money, & Business Failures

Summary

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The Iced Coffee Hour: “Prepare For 2025!” Patrick Bet-David Exposes The Ultra-Rich, Free Money, & Business Failures

Release Date: November 10, 2024

In this compelling episode of "The Iced Coffee Hour," hosts Graham Stephan and Jack Selby engage in a profound conversation with Patrick Bet-David. The discussion navigates through the intricate realms of politics, media manipulation, business ethics, and strategic investments as the world braces for significant changes approaching 2025.

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I. Unveiling the Trump Interview Challenges ([01:07] - [04:28])

Patrick Bet-David opens by sharing his intense experience conducting an interview with former President Donald Trump. He highlights the stringent security measures, including multiple Secret Service agents present, and the unexpected extension of the interview duration.

Patrick Bet-David: “There was a moment in the middle of the podcast that nobody said. That was probably the biggest highlight of the podcast that we cut out...” ([01:18])

Despite the initial constraints, Patrick emphasizes the reliability and dedication of Trump's team, noting their ability to adapt and extend the conversation when necessary.

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II. Contrasting Political Figures: Trump vs. Kamala Harris ([04:28] - [09:38])

Jack poses a challenging question to Patrick, seeking his balanced perspective on both Trump and Kamala Harris. Patrick navigates this delicately, sharing his views on their distinct leadership styles and personal attributes.

Patrick Bet-David: “If I was Kamala's campaign manager, I think Kamala's attractive... She thinks very highly of herself.” ([04:40])

He contrasts this with his critique of Trump's aggressive demeanor and relentless attack strategy, referencing a film portrayal that casts Trump in a less favorable light.

Patrick Bet-David: “Trump's always attacking... He’s two, three hours late to the Michigan rally...” ([04:28])

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III. Trump’s Emotional Facade and Media Portrayal ([05:57] - [09:38])

The conversation delves into Trump's public persona, particularly his limited display of vulnerability. Patrick critiques how this affects his relatability to the average person and contrasts it with moments where Trump's team showcases strategic resilience.

Patrick Bet-David: “Sometimes he doesn't come across as relatable because I need to see a certain level of vulnerability...” ([05:57])

He discusses specific instances where Trump's emotional moments were highlighted, analyzing their impact on public perception.

Patrick Bet-David: “He gave that speech at RNC and you saw him having a moment...” ([05:57])

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IV. Media Manipulation and the Future of Traditional Media ([11:30] - [41:51])

Patrick presents bold predictions about the shifting landscape of media influence, emphasizing the rise of figures like Elon Musk and J.D. Vance in shaping public opinion. He critiques traditional media's integrity, attributing its decline to manipulated narratives and lack of accountability.

Patrick Bet-David: “Between now and November 5th... Musk is going to be the most feared and hated person.” ([11:30])

He introduces the concept of 'the weave,' a behind-the-scenes control of media narratives, and discusses the challenges legacy media faces against independent content creators who seek to unveil the truth.

Patrick Bet-David: “Who could that be? It’s tied to people that have money... independent content creators question why things happened.” ([14:13])

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V. The Rise of Independent Content Creation ([41:51] - [53:18])

The dialogue shifts to the importance of independent content creators in combating media manipulation. Patrick underscores the necessity of authentic conversations free from editorial constraints, advocating for podcasting as a medium that empowers hosts to control their narratives.

Patrick Bet-David: “What independent content creators do is we question why this happened?... that’s how this thing works.” ([12:41])

He highlights the advantages podcasters have over traditional media, such as freedom from biased editing and the ability to engage directly with audiences.

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VI. Strategic Investments in Sports and Real Estate ([63:12] - [92:07])

Patrick delves into his substantial investment portfolio, prominently featuring his minority ownership in the New York Yankees. He elaborates on the lucrative nature of sports team investments, drawing parallels with traditional and non-traditional assets like collectible cards and real estate.

Patrick Bet-David: “The Yankees investment has grown exponentially... that’s what everybody follows.” ([69:02])

He discusses his real estate ventures, including a significant property purchase and the strategic growth of his consulting firm, Manect. Patrick emphasizes diversification as a key strategy for sustained financial growth.

Patrick Bet-David: “We’re building one of the biggest holding companies in the world right now... our consulting firm is growing exponentially.” ([72:00])

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VII. Leadership Ethics and Business Decision-Making ([80:13] - [89:45])

Graham presents Patrick with hypothetical ethical dilemmas to explore his decision-making processes in challenging business scenarios. Patrick shares real-life instances where he confronted employee misconduct, emphasizing the importance of integrity and swift action in maintaining business ethics.

Patrick Bet-David: “One time I had one of my guys... I had to fire them on the spot.” ([82:40])

He discusses the necessity of implementing robust controls to prevent fraud and unethical behavior, sharing anecdotes that highlight the repercussions of such actions on personal and professional levels.

Patrick Bet-David: “Sometimes you need to do a better job putting controls in place... nobody knows.” ([82:40])

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VIII. Emotional Vulnerability in Leadership ([87:31] - [89:45])

The conversation touches on the role of emotional expression in leadership, particularly for men. Patrick reflects on his personal experiences with grief and emotional challenges, advocating for resilience while acknowledging moments of vulnerability.

Patrick Bet-David: “The last time I cried was the Lewis Howes interview... I really miss my friend Jim.” ([87:56])

He discusses societal expectations regarding masculinity and emotional strength, emphasizing the balance between maintaining composure and expressing genuine emotions.

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IX. Concluding Insights on Leadership and Future Opportunities ([90:00] - [92:07])

As the episode wraps up, Patrick shares his vision for future leadership and investment opportunities. He underscores the importance of adaptability, continuous learning, and strategic planning in navigating the evolving economic landscape.

Patrick Bet-David: “If you want to be a great podcaster, how much would you benefit from working for Rogan for a year?” ([80:13])

He offers strategic advice for aspiring entrepreneurs and investors, emphasizing the value of mentorship and real-world experience in achieving financial success.

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Notable Quotes:

• Patrick Bet-David: “If you lead by example and live with passion, then our sponsor, the Range Rover Sport is made for you.” ([67:06])

• Patrick Bet-David: “You either want to accept the fact that he's a bigger alpha than you and give it up... or you don't want to accept the fact.” ([04:28])

• Patrick Bet-David: “A great leader casts a vision or a dream so big that seems unbelievable.” ([52:08])

• Patrick Bet-David: “If you want to be a great podcaster, how much would you benefit from working for Rogan for a year?” ([80:13])

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In summary, this episode of "The Iced Coffee Hour" offers listeners a deep dive into the complexities of modern leadership, media influence, and strategic investments. Patrick Bet-David provides a candid exploration of his experiences and insights, equipping listeners with valuable knowledge to navigate the impending challenges and opportunities of 2025.

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Transcript

[Patrick Bet-David]

So you're getting hungry, really hungry. Head to Jack in a Box and pick up a smashed Jack. It's a juicy, delicious smashed burger topped with cheese, pickles, grilled onions, and boss sauce. And it's now available on Sourdough, the Smash Jack. Only a Jack in the Box. Order one on the Jack app today, except for two or three people. And then we bring you in and we tell you, if you want a long term relationship with us, this is a test for you. You're going to be one of the few people that know. Are you fine with this kind of a responsibility? If it's leaks, it's one of you guys that couldn't keep your word. And long term, you can't be in meetings like this. Can we trust you? Yes. Are you sure? Yes. Do you guys vouch for him? We do. Great. Here's what's happening. We're having President Trump here at xyz. Like, Adam is a lot out there partying and being around a lot of different people. Adam found out about the interview one hour before he was coming. We recorded it and we said, hey, do you know what's going on right now? No. What's going on? Everybody's telling me something's going on. Well, you know, the president's going to be at 5990 in the next hour, and we're going over there right now.

[Graham Stephan]

Get the F out of here.

[Patrick Bet-David]

You're kidding me. No. So we kept it. My kids didn't know, my dad didn't know. Nobody knew.

[Jack]

And when you were recording, how many feet away would you say was the nearest officer?

[Patrick Bet-David]

So imagine I'm sitting here, where I typically sit. PBD podcast logo. You're President Trump. There's nine people in front of me while we're doing the interview. Multiple Secret Service, some of the folks that are trying to keep them. There was a moment in the middle of the podcast that nobody said. That was probably the biggest highlight of the podcast that we cut out, because I'm getting text messages, hey, you got to finish it. You got to finish it. They got to go. They got to go. And I just, I'm like, listen, I'm not doing this. I got 50 text message from my guy saying, we have to finish up. I'm prepared for 90 minutes. What are we doing here? If this is how it's going to go, we got to cut it right now. And you guys got to tell me right now. Right there. President Trump told everybody, hey, we're going to go till this time. We ended up going till 4:45 to get the additional 20 minutes needed. 25 minutes needed. And then it was very interesting seeing how his team responded to, well, let's move this. I'll call him afterwards, have him come to dinner. Have to this. And very impressive on how him and his team were.

[Graham Stephan]

How busy do you think his schedule is right now? Because sit down to the 30 minute mark for everything throughout the day.

[Patrick Bet-David]

He does the Rogan podcast. Three hours. Not the way Kamala and them are negotiating to say, you come to us and we'll give you only an hour. And on his terms. Joe's like, no, I'll do the interview. Come to me. I can't get to know you in an hour. Come to Austin, I'll sit down. Trump, who's busier than Kamala, going on more roadshows than Kamala, runs a lot of businesses, has all these other responsibilities, goes to Austin, does a three hour podcast. He's two, three hours late to the Michigan rally, gets on a plane, goes to Michigan, does the rally at midnight, gives the hour talk, then gets back, gets his rest. Then he goes to the next city, then it's Madison Square Garden. This guy is our team. Today we're here. Two of my guys ask for the morning. They're trying to go to a meeting at Mar A Lago. They go to Mar A Lago. Trump is there speaking to 150 people at Marago this morning. For an hour, hour and a half, the guy is running and gun. He's the kind of a competitor that I love. Because the most intimidating competitors you'll ever face in a marketplace is when you think, why does it seem like this person's at five different places at the same time? How does he do it? How does she do it? Eventually, you're going to experience one of two things. You either want to accept the fact that he's a bigger alpha than you and give it up. That's not your competition, or you don't want to accept the fact. So you start spreading rumors, negativity, you're upset at them. You say you bash them. All this other stuff, like, for example, how Mark Cuban is with Musk. Mark Cuban is constantly going after Musk. Why is he going after Musk? What are you upset with Musk? You used to not go after him. Why are you going after him now? Because Musk keeps going. Musk is operating. Musk is running startups. Mark is not running a startup. Mark's an investor. Mark's running a basketball organization. It's an established organization that he didn't found it was a team that he bought and he helped him become a champion. You got to give him credit. But Musk is not stopping. Neither is Trump. Those are some of the most annoying, intimidating opponents you'll ever have in your life. And Trump's doing it. Graham at 30, at 78 years old, think about that.

[Jack]

Now, this question might be a little bit difficult for you to keep your diplomacy when you're answering it, but I would just love to ask it. What are a couple of things that you dislike about Trump and a couple of things that you like about Kamala?

[Patrick Bet-David]

So if I was Kamala's campaign manager, I think Kamala's attractive. She's physically very attractive. Even Trump doesn't know how to take shots at her looks. She tell me, who has been a more attractive person in politics than her female side? Maybe aoc, Maybe there's a few others out there. I think AOC is very attractive. You can't say she's not attractive. AOC is physically attractive. She's pretty. These aren't. We're not talking models, but I'm talking. The standards are politics. She's attractive. She's good looking. You know, when she was younger, when you see her dating Montel Williams when he was 20 years older than her, and they said, is this your father? Are you his daughter? And she says, excuse me, are you his daughter? No, I'm not. And it was when they. I don't know if you've seen that clip or not. It's a little awkward when you see something like that. So I think from that part, she's attractive. And the second thing I would tell you about her is you don't have to respect it or not. She thinks very highly of herself. So that's Kamala. You got to respect that. She thinks very highly of herself for it to feel like she's above people and she's super attractive. Trump. Well, have you seen a new movie that came out about Trump, the Apprentice? Have you guys seen that movie? You guys would have seen it? I saw it twice in the first week.

[Graham Stephan]

Okay.

[Patrick Bet-David]

And it's a hit piece on him. So it's not like it's a good movie. It's supposed to be bad movie. My wife watched it. Both of my sons watched it. 12:11. There are certain pieces in clips in it. It's inappropriate for your kids. And when we watch it, I didn't know those scenes were in it. It's pretty bad with Roy Cohen. Certain scenes you get prepared for. Why I have to tell my Kids to close their eyes. And then I had a group of my guys that we watch it together in a movie. It shows a clip that Roy Cohen, who was a former lawyer for the mobs, a lot of different people. Nixon, this guy was friends with Nixon. And, you know, McCarthy, young killer, one of these, you know, lawyers that historically were tough lawyers, like an F. Le Bailey. I don't know if you guys have heard her name, F. Le Bailey. This guy was a badass lawyer smoking cigarettes, interviewed by Mike Wallace back in the days in a black and white interview. The way he sits down, like, listen, I'm a freaking powerful lawyer. There's certain lawyers that have certain gravitas about them and a certain level of confidence that's very attractive. Appealing for tv, right? Roy Con was one of these guys and he said, one, attack, attack, attack, always attack. So Trump's always attacking. And this is when he's asking in the scene whether it's true or not. It's a great scene. Hey, you want to be the king of New York? Here's what you got to do. I'm going to tell you the rules. Number one, attack, attack, attack. Number two, never accept loss, okay? Two, always claim victory, right? So, you know, you're going to sit there and you're like, well, sometimes he doesn't come across as relatable to the average person because I need to be able to see a certain level of vulnerability for me to say, that's my guy. And it makes you want to run through the wall for him. Now, he has had some moments of that this last 12 months when he got assassinated, the assassination attempt happened, and he gave that speech at rnc and you saw him having a moment, you could tell he didn't speak like his regular self. When there is that one scene when they're showing a. He's on stage and they're playing a song and he got emotional. I don't know if you guys watched the interview when I showed that clip to him. And I'm watching him and I see him goes like this. The first time in the entire interview, he goes like this. And he's watching it and he's trying to change it. And, you know, I'm in the body language business. I'm in the sizing my opponent business and sizing not an opponent, but anybody. Kids, family, people you're dealing with. You know, I watch him and I'm asking myself, what is he telling himself right now? What is he telling himself right now? Because he was glued to the screen of him getting emotional. With that song. That's very, very emotional song. Right. I watch him like, and he comes back, he says, yeah, you know, you know, America doesn't need me right now to get emotional, any of that stuff. I said, but what about when Pat Nixon died and Richard Nixon crying that he lost his wife? He said, no, I remember that scene. I remember it. He says, maybe one day. I don't know if he caught one. He says, maybe one day, but not right now. Right. And what does he mean by maybe one day? I don't know. You know, I'm sure he's had some moments. That's very tough for him. But the fact that he's 100%, I am not going to show any emotional hurt ever for anybody to say, well, that's why he's not this, this, this and that. And then the argument for that could be go explain why Madison Square Garden has as many people as had there and they called it the greatest political event ever ran where Musk is there, he's there, Dana's there, all these guys are there. What happened with that event? So whatever we, we may disagree and not like doesn't mean it's not working. It's working. You just don't have to like it.

[Jack]

I agree with the relatable aspect. I don't think he's incredibly relatable, but I would chalk it up to the weave. To be honest, when he starts talking about all these different things, it's like when you're shooting the stuff with your friend, you kind of just point and shoot, answer question and stuff like that. But he tends to go way off topic. And it makes me think a little bit more of like someone who's trying to be really diplomatic and like adding a lot of fluff to stuff rather than just kind of going straight for the answer. And I like J.D. vance for that reason. He's more vulnerable. He's very, very relatable. And he's also very point and shoot with his questions and answers.

[Patrick Bet-David]

Well, he's he. By the way, prediction that I'm going to come back to your we've think if I forget remind me, I'm going to go back to the weave. Here's my prediction for you.

[Graham Stephan]

But you know what? While we're on the topic, you have to ask yourself, what's the future going to hold for businesses? Because if you ask nine different experts, you're going to get 10 different answers. Bull market, bear market rates will fall. Rates are going to rise a little bit. It'll be really helpful to have a crystal ball.

[Jack]

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[Graham Stephan]

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[Patrick Bet-David]

Here's my prediction for you between now and November 5th. Trump is the most hated man in America by mainstream media. On November 6th, number one on that list is going to be Musk. Number two is going to be JD Vance. Number three is going to be Trump. Let me explain to you why, because who is the only person if you, if you pull out a chart and you put a timeline, you'll have Trump is four years. Musk is 53, 54 right now. How long do you think Musk's going to live? 30, 40 years? So Musk is like this. That's why he's the most feared and hated person. Okay, minus politics, JD Vance is not only four, but JD Vance is currently proving himself to be the number one candidate in 2028. And this could be 12 year run because Jake Tapper doesn't know how to handle JD Vance. Dana Bash doesn't know how to handle JD Vance. The media doesn't know how to handle J.D. vance. He goes on. Theo Von they love JD Vance. He's on stage, they love him. So for me, November 6, you will see what's going to happen. The amount of attacks going after. JD is going to go to the roof on November 6th because they know he's next.

[Jack]

Well, we have the prediction and we'll be able to check back up on that, I'm sure, in probably a year when we do the annual podcast. I think that is a very astute observation. I agree with it. I Think the incentive structures are there for them today.

[Patrick Bet-David]

That's right.

[Jack]

So it makes sense. People follow incentives. And I think, I think that's very, very plausible.

[Patrick Bet-David]

And in regards to the weave, you know who's famous for doing the weave? Oh, how much money have you spent in your life with lawyers? I don't want the number. But think about the money that we spend with lawyers. You know, what's the one thing about lawyers? You ask a lawyer a question. So, hey, John, I'm going through this and this, this, that. What do you think I should do? Well, I remember when I was dealing with this one case, and it all depends because in the state of Florida, their job is to prolong the call to collect their fees. Right? Lawyers are pro at doing that and they're frustrating. But guess what? They're collecting their fees. So sometimes that weaving stuff is fine. If you're coming back to the point for lawyers, it doesn't matter. I'm just collecting sometimes.

[Graham Stephan]

In that case, I think there's so much nuance that there's not just a one answer. They're holding their answer fire.

[Jack]

You know, once they give you a direct.

[Patrick Bet-David]

I got a lot of lawyers that are now with me that I've had for years, and I like them. But sometimes the lawyers that you're dealing with at first, oh my God, it's a two minute question. 45 minutes later, I'm getting Bill for two hours.

[Jack]

That's why you got a mined.

[Patrick Bet-David]

That's why you got a min. Exactly.

[Jack]

Okay, so one thing you talk about on your show a lot with which I think has been avoided for a very long time is who really runs the US Government. You always talk about they. Like when you say they removed Biden as president against his wishes and placed Kamala in the seat. Who are they?

[Patrick Bet-David]

Yeah, that's a great question. So I asked Jim Jordan right now who. Who they are, and I asked Kevin McCarthy who they are. Jim Jordan was right now. I'm coming from there and Kevin was here two or three weeks ago. So report came out today of how many billionaires are supporting Kamala versus how many billionaires are supporting Trump. What do you think the split is? So I'll give you the number on the total. It's 130 total billionaires that have publicly declared who they're supporting. How many is for Kamala? How many things for Trump?

[Jack]

I would say like 15 for Trump. And then what is it? 130 you said?

[Graham Stephan]

No, I think 115 for the opposite. I think the majority is probably for Trump.

[Patrick Bet-David]

You think the majority is for Trump?

[Graham Stephan]

I would say so.

[Patrick Bet-David]

You ready? 80 is Kamala. 50 is Trump. 80 is Kamala. 50 is trump. Why? Why is 80 Kamala 50 Trump? When you think about Elon is for Trump. Okay. You think about, you know, Warren Buffett is not for anybody. They're not announcing that they're supporting anybody, staying quiet about it. He's normally not like that. He'll come out and say Obama, but he's not for anybody. And neither is Mark Zuckerberg. Not for anybody in 20, 20, $400 million. He said we made a mistake because the Joe Biden, Kamala Harris, they kept telling us to take certain things off and do this and we made the mistake of saying yes to them. So Mark is kind of saying, I'm out. I'm not supporting anybody. Right. You saw what Jeff Bezos, Washington Post we're not endorsing anybody. He lost 200,000 subscribers at a 50 annual renewal. So he lost $10 million of recurring over saying they're not endorsing anybody and lost a couple of his guys. And that's out of 2.5 million subscribers. He lost 8% of it. Louisiana Times for the first time in 20 years, we're not endorsing a candidate. He is one of his main editors resigned. I can't do this because I think this guy's pro Trump or whatever it is. Right. So why are 80 people supporting Kamala more than they are Trump?

[Graham Stephan]

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[Patrick Bet-David]

Well, if Dems lose this year November 5th, we're going to know by the time people watch us thing. If Trump wins and Kamala loses and they're done. Who do you think is making a phone call to say we have to change the approach? You think it's Obama, you think it's Bush, you think it's Hillary? You think it's the Clintons? Or do you think it's the money people? There's a video today that I played for Jim Jordan. It's a scene where they're at George Bush Sr. S funeral, and everybody is handed a white envelope. And they show Clintons open a white envelope. Professionals. No facial reaction. They show Michelle Obama opens the envelope. Barack goes like this. They show the envelope. George Bush senior's wife opens it, and she looks at Jeb, and Jeb is looking around because it's his father's funeral. And then Jeb goes like this for half a second. He goes half a second reaction to the envelope. Okay, so who gave the envelope? Because in life, let's just say you go speak at an event and they pay you a half a million dollars to speak. There's like, well, I got paid a half a million dollars to speak. You know what? I want to know who cut the check to the half a million dollars to you? So in a setting like that, you received an envelope, and only four of you guys received the envelope? Apparently, Trump didn't receive an envelope. Who gave the envelope? It's not your assistant. It's the assistant to who? Whose handler gave it to you. And are those the people? Maybe I joked about it. I said, maybe. Maybe it's simply the fact that they said to Jeb, there's no steak on the menu tonight. And he's pissed. It's only chicken. We know that's not the case. Maybe. Maybe they said, hey, you know, Trump did something. Well, what is that one thing? If you only need to look at something for half a second, that means there's not a paragraph or sentence. It's a number or a word or a letter. Boom. That's what it is. I'm asking Jim Jordan today. This is a very powerful guy, Jim Jordan. He's gone up against Fauci. He's gone up against Biden, folks. He's gone against Hunter. He's gone against everybody. He's gone up against. So I've never seen this before. I said, what do you think is in the envelopes? I don't even know what's in the envelope. I want to know. So, you know, Trump called it the amorphous group of lunatics. Like a certain group of people behind closed doors that have the power that are doing this. Who could that be it's going to be tied to people that have money and who those money people are. We know some of the names, we don't know all the names, but the reality of it is whoever those people are that can control the knob, somebody like Obama's worth, let's say $100 million, say 200 million. I'll say Hillary's worth at this point, her and Bill, $300 million, $400 million. You know what that is to these other guys? You're nothing. That $400 million I spent on a regular day, just interest on what I'm paying or dividends, what I'm paying you $400 million. These other guys have the real kind of money. So I asked Jim and my interest to see what Trump and some of these guys will do the same way they did Twitter files, where we found out the communication of what was really going on and who was asking to remove all those posts and all this other stuff, you know, Barry Weiss, you know, Elon Musk, Matt Taibbi exposed it. Right. I asked, I said, I would love to see somebody get appointed to do FBI files, get appointed to do CIA files, get appointed to do DOJ files, get appointed to show to us what's going on. Because if somebody comes in and you fire everybody. Jim said, Jim said, I've told Trump you should not only fire everyone, we should also fire some of the people that you shouldn't fire. And it's okay if you get in trouble for it, but we got to get rid of these guys to really find out what's going on. Yeah, I mean, you know, it's who's there the longest that typically doesn't want the limelight. One time I interviewed this lady named Jonah Mendez. She was the chief disguise officer of the USA. She's CIA 28 years. I think her husband was a very well known guy that was involved in the movie Argo. But Jonah Mendez, she came to me. She's the one that put a real mask on her face. And President Bush senior couldn't recognize her because it was so real. If you've never seen this, it's sick. There's a picture of it. She's holding the mask of a different lady. Right. And I said, jonah, you've been to CIA for 28 years. What's the quality of a great CIA agent? She Great question. I said, is it sales? Is it negotiation? Is it persuasion? What is it? She says, it's somebody who's a very good negotiator, who's very charming. Who's very charismatic, who's very persuasive. However, if you all of a sudden prevented World War three and you are the reason, and you're watching tv, you don't have to go and brag about it, how hard that is. You know, you want to say, hey, you see that? I did that. Imagine you just prevented war. No one's giving you credit for it. Those are the people behind closed doors that they know they're running everything, but no one's given them credit for it because they don't want it.

[Graham Stephan]

Yeah, they're okay with that in the envelope. I'm curious if it's a picture.

[Patrick Bet-David]

Could be a picture.

[Graham Stephan]

That's what I think.

[Patrick Bet-David]

Some sort of picture.

[Graham Stephan]

Some sort of. Some sort of blackmail.

[Patrick Bet-David]

Could be a picture.

[Graham Stephan]

That's what I think. Hey, we got this image and everyone's like, oh, crap, they got the image.

[Patrick Bet-David]

You're right. It could also be a photo. Yep.

[Jack]

Yeah. For me, I would say it was really freaky when Joe Biden kept saying, I'm gonna run a second term. Things are gonna be fine.

[Patrick Bet-David]

I'm.

[Jack]

I'm not gonna back out of this race. That's the last thing I'm gonna do. And then one random day, he did. No one asked any questions, and he's out, and Kamala's in.

[Patrick Bet-David]

We don't even know why. I got a question for you guys. The. The evolution of your first podcast we did together at mgm right to the second one to now the third one. I don't think we talked any politics on the second one. On the first one, maybe a little bit. Second one. I went there a few times. This one, you guys are very interested. Why are you guys now comfortable talking about politics and you're interested in it?

[Jack]

I have always been a little bit more okay with that. I'm a little bit more prone to risk, I guess. Graham is very risk averse, so he doesn't like to make any takes or anything.

[Graham Stephan]

For me, it's not really my forte. I'm really interested in business and money, and I think that's a good balance between Jack and I. Jack is a lot more interested in these topics than I am. For me, though, it's what everyone's talking about these days, so I'll kind of go with the flow in terms of.

[Jack]

Where the attention is sending me a disproportionate amount of like, oh, gosh, yeah, Twitter posts and stuff like that that have gotten political recently, which is fascinating because this is just never.

[Graham Stephan]

Oh, gosh, the. The botting the botting is terrible on Reddit. So I'm sending Jack. So, like, I'm really big because I could. I could see when someone's buying fake views, followers, likes comments. I see it so quickly on YouTube. I'm seeing it on Reddit and these particular threads that are coming up and I'm sending Jack these threads that are very pro Kamala, anti Elon Musk, anti Trump. And I know Reddit skews left, but to the degree that I'm seeing and I'm screen recording on my phone and I'm refreshing and I'm showing like thousand upvotes, thousand upvotes, thousand upvotes every minute. It's not normal. That doesn't happen. I've never seen that before. And so I could tell. And I'm sending this to Jack, like, hey, this is bought it. This is bought it. This is bought it.

[Jack]

And it's on apolitical Reddit threads or subreddits. So things that aren't supposed to be political, like it was R slash picks, R slash pics, which is not political at all. And then they're posting a picture of Kamala's ad or something on this fear, saying that this fear is taking a political stance. And it's just getting a thousand up.

[Graham Stephan]

And the funny thing is every comment is negative, but all the negative comments are now getting downvoted within the first minute. And I'm screen recording all the.

[Patrick Bet-David]

When it's downvoted, what does it do?

[Graham Stephan]

It doesn't show up on the top.

[Jack]

So that was all the way to the bottom.

[Patrick Bet-David]

So wait a minute. Reddit, they only show the ones that are upvoted.

[Graham Stephan]

Okay, so what I'm seeing is that, you know, just my opinion is that her or her team are bodding up very positive pro information to her botting up anti Trump, anti Elon Musk, and then bodding up all the positive comments and suppressing anything that's negative. Because when you sort by newest, they're all negative. And every comment is like, this is just an ad. She bought a billboard.

[Patrick Bet-David]

Are you. Are you catching yourself being more interested in it because it directly impacts you, or is it because the market's talking about it and you're just like, you're. You're forced to almost consume it.

[Graham Stephan]

Probably both.

[Patrick Bet-David]

Okay.

[Graham Stephan]

I'd say it's an equal amount of both. Probably 50.

[Jack]

50.

[Patrick Bet-David]

You know why? I used to think it was the second one, But a part of me, like, I mean, politics has been around for a long time, if you think about it. Right. Politics been around for a long time. When I watched sports and I was 18, 16, 20, 22, I could care less about politics. Then all of a sudden I'm like, wait a minute, why did I pay $50,000 in taxes? Where's this money going to? Why'd you just tell me I have to do this? Why is this district. Why is it. Because I'm this county? You just came and collected what kind of taxes? Assessor tax. Assess. What is this tax? LA County. So you need me to pay you, what, 89, $69,000 for what? So what county doesn't have this kind of tax? What's the Burbank? Glendale, Santa Monica, Victorville. Okay, then I'm going to go to Glendale. We're moving our office. We're getting the hell out of California. So those were some of the things, because it starts off with economy, right? You're not sitting there saying pro life, pro choice, this, this, that. You're just looking purely at the economy side of it. But it's interesting for me that a content creator like yourself, you guys have a massive following. You're. You're not a small hundred thousand subs. It's millions on top of millions on a couple platforms that now even you are feeling more comfortable to want to talk about these issues, even though some of your audience may say, why are you talking about the Stick to business. Good for you guys. Thank you.

[Jack]

And I do think that they're tied together pretty well. I mean, I also had a huge awakening when I left California and then moved to Nevada and then realized that the amount of money I'm saving in stating I'm tax is paying for my house, it paid for my car, it's paying for all of these things. And then I go to California and it is substantially worse than it is in Las Vegas. And I'm like, this makes no sense. There's a huge discrepancy. And I think it's also important to talk about politics, not through an emotional lens. So also to. To heart back on what he said about the Reddit stuff. That's also speculation. There's no.

[Graham Stephan]

There's no proof.

[Jack]

The proof is just the fact that we've refreshed the page and it looks really sketchy. And Graham spends. He spends an ungodly amount of time on Reddit. I do like a crazy. And he's never seen anything like this. It makes no sense. It's speculative, but it is weird. Yeah.

[Patrick Bet-David]

Yeah. I mean, if you look at Instagram, Kamala will post something. She's got 20 million followers and you'll see how many likes it gets. Like, man, you're not moving. Anybody call her daddy. 779,000 views. Club Shay. 889,000 views. Where his Cap Williams interview was a number one interview of the year. But the person running for President only gets 889. TRUMP Rogan. 35 to 40 million views. And he dropped it on Friday night or whatever it was. On a night where Yankees are playing game one. You choose to drop it on that. What a. You got brass balls to drop it. Oh, yo, the perfect timing of the. You know, everybody's like, we got to drop it now. I'm dropping it right now. Go watch it. You don't want to watch. It's totally fine with me. 35 million views on Google. You can't even see what's going on with it. You can't find a Rogan Trump, so. And then the thumbs up, thumbs down ratio. You know, you would watch Obama on Leno or Letterman or whatever the shows were, Kimmel or Fallon. He was interesting. Unfortunately, she is the most boring candidate ever. I've never seen a more boring candidate than her. And this is politics. A lot of people are boring that get into politics. The market's just not interested. You have guests, you'll have them on. And what do you do? You think you're going to go back and interview guests that doesn't get eyeballs? You don't do that. I don't do that. None of us do that. Oh, this guy. What was that? No one's interested. Why are you not interested? Boring, not entertaining. Not electrifying. No. Charisma. No. Give me something new. Everything's the same vanilla. Same story. Same story, same story. Nobody wants to see it. I already know what he's going to be saying because he says the same thing. A lot of content creators who were gods ten years ago, five years ago, who are dying today, why are you going to watch them? You know what they're going to say. You know what their answer is going to be. They don't recreate themselves the same way. The market reacts to boring content not getting fresh. You guys are changing it up. The same with Kamala. The market is just not interested in what she has to say on the interviews. They're only voting because they can't stand Trump. They're not voting because they love her.

[Graham Stephan]

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[Jack]

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[Graham Stephan]

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[Jack]

In the description cards issued by Sutton Bank Member fdic. Terms and conditions apply. Thank you so much to Ramp for sponsoring this episode. And now back to the podcast.

[Graham Stephan]

I would love to get your thoughts on Lex Friedman. He recently tweeted he said legacy media is done. I'd love to see presidential candidates and political leaders of both parties regularly doing long form podcasts. Moving forward, what are your thoughts on traditional media?

[Jack]

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[Patrick Bet-David]

You listening to an app at PC Game Pass? Want new games on day one? Like Indiana Jones and the Great Circle? How about living out your Sims life with EA Play? We talking high quality PC games offer one low monthly price? We got you. Learn more at Xbox.com PC Game Pass or click the banner Indiana Jones and the Great Circle. Available December 9, 2024. Game catalog varies by region and over time. Okay, that's the ad. You can go back to doing whatever you were doing now. So what is keeping Traditional media in place three things. One is boomers, one is big pharma and the other one is sports. Now watch what's happening with sports. NFL NBC is so scared of what's going on with sport. Charles Barkley, how dare the Miami Dolphins and the Kansas City Chiefs go put that one game on Roku or whichever it was, and they paid him $110 million. All they care about is money. Charles, do you do NBA on TNT for free? Well, no, I'm all about making money, but this is a little bit too much. Who's. Who says that? You say that? No, it's called disruption. The game is going a different direction. Look at shows on mainstream media. By the way, here's the other prediction to be thinking about. Here's the other prediction to be thinking about. You'll remember this for sure. You remember this. Do you remember during COVID there were guys that are doing lives three, four, five times a day and they're killing it, growing exponentially. Some of the guys got a hundred thousand subs in a month. Right. And G5, was it G5? Yeah. G5 and Covid and market and the next stimulus, the next stimulus, reaction to the next stimulus, reaction to the next stimulus, stimulus changed G5 chain. They disappeared. What are you going to react to now? Election. It was election. It was a Trump and Kamala and RFK and Tulsi and November 6, a lot of talent. They're scared shitless because guess what? You know what? November 6th is going to happen. People are going to say, I'm freaking done with politics. I don't want to know nothing else. Give me a year or two year break. I'm not interested. You're going to see a lot of the talent, content creators that are doing talent individually. They're going to join teams and alliances. That's going to happen November 6th, when they're going to think about it. Now, they may not execute on it until March, April, May, June, July of next year because they're like, no, I'm going to be fine. I'm going to be fine. I'm going to be fine. They're going to experience that. Not everybody, not you guys, but a lot of people are going to be doing that. So that's one part. Second thing, November 6th, the mainstream media. The only reason I don't think they're going to be dead the next four years is the answer is going to be a little weird. I think Trump's going to prevent them from going out of business the next four years. Because when Trump's in office. CNN ratings was to the roof. MSNBC's rating was to the roof. They needed outlets to go out there and talk trash about Trump. And they're going to fricking cbs. He's going to see record breaking number of subscribership. And why? Because they have an enemy. They can't do that under Kamala. This game is a very tough game. Why? Podcasting is not for everybody. It's not. I can sit here. Give me a teleprompter. I'll read it. So today at 6pm there was news reported that in New York City a family of six was shot when it. I'm reading right now. Try to do this now, try to go through this. Not everybody can do this. How many guys go from there and make it happen? Maybe Tucker, how many more? Maybe Megan. How many more? Not a lot of them. So this, this game is about to change in a major way. And Lex Friedman is absolutely correct with what's taking place in 2028, 2023, 2024. Bobby showed the way to compete is podcast. Trump saw that. Boom, I'm going on podcast. But you think this is crazy. 2020, 27, 2028, you're going to see actual presidential debates taking place on podcasts. You'll see that happen. It's changing game of change.

[Jack]

I would love that. Love that.

[Patrick Bet-David]

No, it's, no, it's going to come. It's going to come because there's going to be money behind it. It's going to come.

[Jack]

And the main problem I think also with these huge outlets is that there's no accountability whatsoever. Did you read Jeff Bezos, his opinion in Washington Post? I was actually. I saw, I saw that he did that and I was very excited. And then I read it and I was wildly underwhelmed because he said that the media needs to be accurate. They need two things to be accurate and then for people to believe that they are accurate. And he says Washington Post has not done the latter. Let people believe that they're accurate. Basically saying that people can't make the decision for themselves if the information that they're receiving is accurate or not. They don't have that agency. It's up to the news source to tell them that what they're saying is accurate, which I think is kind of taking away the agency from the people that are ingesting.

[Patrick Bet-David]

I mean, here's the reality of it. He's got 2.25 million subscribers, right? 2.5 million subscribers, of which he just lost 200,000 yesterday. Okay, 8% is gone. What's he now going to do? So did he lose 200,000, but he gained 100,000 conservatives? No, he just lost because the average conservatives or libertarians not sitting there saying, oh, wow, great job, Bezos. I'm not going to come and subscribe to WaPo. Oh, great job, LA Times. Now I'm going to come back and subscribe to LA Times. You didn't gain conservatives, you just chose to not endorse. So they didn't win anybody. They just lost. So what are they going to do now? When it comes down to TV podcast, you have to know to be a good host, to ask good questions, to be a good conversationalist, to maybe have a good shock factor, good storyteller suspense, good analysis, good breakdown, a way of looking at something that nobody's thinking about. To say, well, I just like the way this guy thinks. He's always different than what everybody else thinks. Oh, interesting. Never thought about. Or very honest, transparent. I trust this guy. When he F's up, he says it. Ted Turner said something. And I think this is where a Bezos, if he reads the book, they call me Ted or something like that. The book at the end of the chapter, end of the book. Phenomenal, by the way. Both of you guys would enjoy reading this. It's a phenomenal book to read. At the end of the book, he's interviewed by one of the current CNN anchors and he talks about how disappointed he is in what happened to cnn. He says, I started CNN for news to be the star. He says, now the star is the anchor. No one cares about the news. Things changed. Right now, part of it could be the Fair Doctrine act of 1987, where Trump, I'm having him on the podcast, we're talking, he says, you know, back in the days, whenever they're doing a story on me, somebody independently would call and verify, are these stories true about you? So think about this. You're writing for New York Times, he's an independent company. He calls me and says, hey, Patrick, this is what New York Times is writing. Can you verify these things? And I would be able to get my argument to it on the hit piece that you're writing on me. Right? Okay. Ever since 1987, you don't need to do that anymore. The fair Doctrines that because propaganda became a normal thing, you can say whatever you want. There is no accountability, nobody can sue you. They used to be able to do that because they used to say a media company that was called the Thomas Mund act back in the Days where you have to give me both sides of the story. That's the Walter Cronkite days. He was a hardcore liberal. Nobody knew about it. He just gave you the news. The moment that's wiped out and the journalistic integrity and accountability is gone. Everybody can't keep writing. Opinions, opinions, opinions. Russia collusion, Elon Musk is this.

[Graham Stephan]

Why'd they get rid of that?

[Patrick Bet-David]

What was it?

[Graham Stephan]

What was the argument for getting rid of that?

[Patrick Bet-David]

Yeah, so, I mean, the argument was you should let people talk and you should let people present. And then keep in mind, I wasn't involved to know if lobbyists were involved. Because think, if you're sitting there saying, guys, we keep getting hit by these lawsuits, man, if we can sensationalize stories even more, we're going to get more eyeballs. More eyeballs equals more sponsorship money. How much did that lobbyist firm wanted to. If we hired them, how much, how much money do we need to give to these guys? $2.8 million. If we do the $2.8 million and we turn that over, how much can that turn into? Oh, advertising would go 300%. Can we talk to accountant? Hey, CFO, can we afford that? $2.8 million. Let me run numbers for you. Yes, give that guy 2.8 million out there. Prayed doctrine. That is gone. No way. Yes. Phenomenal, guys. Pump it up more. And let me tell you what I believe is going on. A source and anonymous source told me. What anonymous source? Everything was anonymous. An anonymous source told me that Graham Stephan is taking steroids and growth hormone and he sold them the steroids. Anybody can say that nowadays. What do you mean an anonymous source said that? And now you have to go answer it. It's.

[Graham Stephan]

It's awful because then if you address it, you have half the room with your credibility. Then he addressed it. So there's got to be some truth to it. Why is he hiding it? And then if he doesn't, why isn't he addressing it? It must be true.

[Patrick Bet-David]

Sensationalism factor when you get rid of and you allow propaganda. Now anybody can say Jake Tapper is being questioned by J.D. vance. Russia, collusion, SEAL. Whoa, an FBI. What are you talking about? You don't have you well enough? Yeah, we did. We looked at it. No, you didn't. So Jake is like offensive. Going back and forth with Jay, I was like, what are you talking about? You did this the entire time. Now you want to say an anonymous source that used to work with Trump in the day said the following. Enough of these anonymous sources so, and, and you're going back to independent content creators. What do independent content creators do? All we do is we question, why did this happen? Hey, can you pull that up? Huh? Huh? What do you think happened? Is it this? Is it that? And then somebody's watching, saying, what is that white envelope they're talking about? And then let me create a Reddit to see what people think it is. Let me see 6800, 990 comments later. Oh, there was a person. These are five different things. I found out what it is. That's how this thing works. So that, and that's scary to them, right? What, what, what, what you're doing, what we're doing, it's very scary for them. But long term, that's the direction we're going.

[Jack]

On the topic of independent content creators, why did you guys sign on Chris Cuomo to the show? I noticed that when you guys did that, I saw more hate in the comment section than I've ever seen before on Reddit, on Twitter X, I saw all of these hate comments. What was the strategy behind that? And why is. Why have I not seen him on the show in the past few months?

[Patrick Bet-David]

I welcome all the hate. I'm not uncomfortable with that. Some of the people that called me and texted me and messaged me about how disappointed they were the fact that we signed Chris, if I tell you the names, you wouldn't believe it. And I wouldn't tell you the names. This is not because I don't want to throw them under the bus. It's just a private conversation I had with these folks. But I understand why they would say it, because for the longest time, he made the people that didn't want to take the vaccine seem like they were the bad guys. He was part of that camp that he went through when he was at cnn. The whole ivermectin, everything we had, Dave Smith, we had this debate that took place. Now, for me, my comfort zone is controversy, chaos, and issues. Because if there's not a clash of ideas, you don't get to the truth. If I want to find out how mentally and emotionally tough my kids are, and I notice one of my kids is very good at talking shit to the other ones. And I watch to see how long it takes so that person gets rattled and gets emotional, and I'll say that's all it took. Yeah. Seriously. Yeah. I said, let me ask you a question. What do you think we are as a family? You think, you think we're a very quiet family without your father having Strong opinions. You guys are kids right now. What do you think is going to happen when people start saying stuff to you about your dad? How are you going to handle it? What do you mean? Well, let me give you some stuff right now. So I start saying, what are you going to do if somebody says this? Well, that's not. But what are you going to tell them if they say something like that to you? How are you going to handle this? What are you going to do if somebody says this about your brother? So we now started role playing how to do press conferences and I start poking them with comments to really piss them off. I said, you don't. You have that thin of a skin. You want to do something big, but you don't have. You have that thin of a skin. @ Kevin McCarthy on the podcast a month ago, and I asked him a question, I said, let me ask you, here's a list of people, people that I think will run in 2028. What do you think? He didn't comment on it. But then afterwards we walked away and we talked about some of those names of people. The one thing that he said to me that I'll reveal, which was fantastic, he said the following. He says, you know that guy you said that could run for office? I said, yeah. He says, he won't run. I said, why not? He's not battle tested. I said, he's not what? He's not battle tested. What does that mean? He's not battle tested. Says, you have to realize most of these guys cannot go run when hit pieces come. The average guy cannot handle it. It doesn't matter if they're a billionaire. Did you watch the Lex Friedman interview with Trump? Did you guys watch it? Do you remember that part where Lex asks him the question about other friends running for president and you know, who's it for and who's not for? He says, one, there's a lot of billionaires that don't know how to talk from stage. They just don't know how to communicate from stage. You have to know how to communicate, entertain, tell stories. Most of these guys are not good public speakers like Mike Bloomberg. He's not a guy that can get on stage and entertain an audience for a long time. But another part of it is, how do you do when they attack you guys? Calls me the other day and he does a story on me. And we had a very well known guy from one of the biggest magazines that is going to be here with us on election night. Hates what we stand for. Not on the same page. With me. Here's how the call ended. I said, let me manage expectations with you moving forward. He says, what's that? I said, you have my cell phone number, what I shared with you. If you say anything, I just said in the article you're writing that I said the way I said it, I'm always a phone call or text away. I swear to God, if you in any way try to spin what I said to you in a way that makes me look bad or hurts my relationship with the person that you're writing the article about, you will never get a hold of me. And I'm going to be around for the next 40 years. So if you want to have a 40 year relationship with me that I'm a phone call or text away, you best be fair and straight up with me. If you're not, this is not going to work out. You know what he said to me? Pat, I may not agree with everything you're doing, but I'd like to have that relationship with you long term. I said, great, then guess what? Let me know when you write the article, sends it to me over. These are the things that you have to get used to, having these relationships with people and managing expectations. When Jordan first came in the game and everybody was doing interviews afterwards and they started talking about his family, Jordan made it very clear, hey, my family is not something I want to talk about. You can ask me any questions about the game, not my family. If you talk about my family, I'm not giving interviews. You know what happened. Everybody realized you want Michael interviews. You can't go after his family. They left him alone. And Michael had a personal life that he didn't walk on, you know, water. He had certain issues. Nobody covered it because ask me anything you want about the game, but don't ask me about my personal life. That's the way you also manage that relationship based on whatever your level of acceptance is on a topic that you want to talk about. So the battle tested part is going to be interesting to see who'll be able to handle it or not. But it's going to be, it's going to be very tough for a lot of people long term, especially those that want to maybe get to the next levels of running.

[Graham Stephan]

Yeah. Now, in terms of policy, do you think a zero income tax is actually possible?

[Patrick Bet-David]

So let's do the math. How much money do we need to run our government?

[Graham Stephan]

Depends on what you're funding.

[Patrick Bet-David]

Exactly. But right now, how much money do we need to run our government Today.

[Graham Stephan]

With overspending yeah, yeah, it's probably. You could get it down to five. Okay, $5 trillion.

[Patrick Bet-David]

Out of the $5 trillion, how much lower can we go to?

[Graham Stephan]

Well, if you get rid of Social Security, you could save two and a half. You get it down to two and a half, you.

[Patrick Bet-David]

How do you get rid of Social Security? You got 76 million baby boomers. How are you going to do that?

[Jack]

The way I like to think Social Security can be ended is assign an interest rate to all of the money people have contributed throughout their entire life and then just pay them it back in a lump sum and close it.

[Graham Stephan]

Out so everyone gets their own individual account treasuries.

[Jack]

I mean, if the, if the IRS can audit us, they can get access to these records, add up the amount you've contributed, assign an interest to it, maybe 5%, 3%. I'm sure people would rather have the money now than later and then just give it to them.

[Patrick Bet-David]

Okay, so how much is that going to cost you? What's that amount? So, and a half trillion, you're saying two and a half trillion.

[Graham Stephan]

Social Security, I believe, is two and a half trillion.

[Patrick Bet-David]

Okay, what else you got?

[Graham Stephan]

Overhead?

[Jack]

Defense.

[Patrick Bet-David]

Okay, defense. How much of it can you change? Especially right now?

[Graham Stephan]

I have no idea.

[Patrick Bet-David]

Okay, so our defense right now, what's the number? $2 trillion US defense budget. Okay, how much of that can you lure? Do we need 780 bases worldwide? Why do we have 780 bases worldwide? How much does that cost us? Do you realize we have 780 bases worldwide? Do you know how many military bases China has worldwide? It used to be two. I think they're at eight right now. Five to eight right now. We got 780 worldwide. Why do we have 780 worldwide? What are we doing with that? Right. There's a lot of areas where you can cut. However, this is the challenge. To do that, to get to 0%. The only way that could work out is if you. That way of thinking controls the administration for 20 years. And that's the problem, because if you go zero and you put it on all the tariffs that we're collecting from all these other countries, how much are those tariffs going to be? So, for example, the trade surplus, trade deficit, our trade deficit is what, $1.1 trillion per year? We give $1.1 trillion more to other people. Like imagine we're doing business. I buy eleven hundred dollars more from you than you buy from me. So I'm always giving you more than you're giving me. If we're business People, the way I described it, you do auto insurance, I do real estate. I've given you 1100 more leads and referrals in the last five years than you've given me. You're not giving me any referrals. I'm always giving. Eventually I'm going to be like, why the hell am I giving you all this business? You're not giving me anything. I'm going to stop giving it to you. Right. So our trade deficit is 1.1 trillion. China's trade surplus is 840, 840 billion. You know who number two is in trade surplus? Germany. Germany gets 220, 240 billion more. Why BMW? The cars, the fancy cars that they got. So that's the part. So if he hired somebody that can go negotiate with these countries and saying, hey, we've given you this much to make up the difference. It's either we're going to make it up through tariffs or you have to spend this much money buying this much money business from these 20 different industries. And you don't have to do one. Maybe you don't have this because you have it right now. You got to buy the other ones. So I need you to buy this much money from this, this much money from this, this much money from this. Right? So you're kind of going through that part with them. Great, but how long will that take for that negotiating to take place? Because how long can China take that pain? Maybe a year, two years, three years. They're like, who the hell are you? You're going to get out anyways and I'm going to have some of my intelligence come and make sure you don't get elected. And J.D. vance doesn't get elected. You ain't going to do the zero percent stuff because I have to pay for it. So the only way I think that happens is, man, you need 20 years to shift the way we think to get people off of entitlement programs. And if you get people off of entitlement programs, like right now, okay, hey, I'm going to cut you to tech. Social Security, we're getting rid of it. Give a 58 year old $173,000 of Social Security, you think they're going to keep that money or spend the money? They're going to spend the money. So how much do they have left at 62 years old? 72 years old, and now who has to take care of them? The kids. Now the kids have to take care of mommy and daddy because they didn't spend, they spend the money In a hardcore way to now kids are having mommy and daddy live with them. That's problematic. So we're, we're not a good savers society right now. We have very bad mindset financially. It's going to take you 20 to 40 years to figure out a way to get to zero percent. If we have everybody believing in the same ideology and philosophy, that's a tough fight to have. Not in four years. It's a very difficult thing to do in four years. By the way, if they do it, they deserve a Nobel Prize.

[Jack]

Yeah, I like the fact that it's brought up, but at the same time I'm worried that that sets expectations so high that then if they were to do something like say reduce it 10, 15%, it just wouldn't even happen because people are expecting zero or they're expecting no change at all.

[Graham Stephan]

You set the bar so low though that if you get anything then yeah.

[Patrick Bet-David]

Look, it is a great conversation. Started to go like if you ever read the book the Art of Seduction or 40 Laws of Power, have you guys read those two books? Okay. One of the things he talks about is cast a vision or a dream so big that seems unbelievable. Most people run through the wall for it to think it's possible that one day it'll become a reality. There's power in selling a massive vision or a dream. The greatest leaders of all time that create a massive following, they were very good at doing this. It doesn't matter 100. It doesn't mean 100% of the dream or the vision became a reality, but they definitely created an army behind it. Some of them did, some of them didn't. But hey, by the end of the decade, we're going to land on the moon. Now, you either believe we didn't land on the moon and it was a movie fly me to the moon, or you believe we did. But either way, the story of we're going to land on the moon, what is that? A massive vision. Oh my God. We're going to do before Russia. This is awesome. John F. Kennedy, let's go. Right. It's exciting. So there's a part of it, but man, you need, you need a lot of years of people being on the same page together.

[Graham Stephan]

So where do you think America's headed over the next 10 years?

[Patrick Bet-David]

It's after the election. You're watching this. TRUMP 1. J.D. vance becomes enemy number two. Elon Musk is enemy number three. Trump is going to be enemy number three. I'm sorry. So it's going to be Musk J.D. vance, then Trump. So then the establishment, they're not going to go after Trump because Trump is just four years. They're going to go after Eric Jr. All the other family members. So that's, you just have to know who the enemy is going to go after. That's who's going to get targeted. Crystal clear. Those are the people. And maybe I would put, you know, certain people in the top 10 list. Ave would be on the top 10 list. Certain other people, maybe not Bobby. Bobby is going to be 74, 75 years old. Maybe they're going to go in a different direction. Bobby's going to play a role, but they're going to target some of those guys. Trump WINS the way J.D. vance has proven himself as a great VP selection and Trump gets credit for this with Peter thiel and Don Jr. But ultimately Trump for choosing him because it's his call. JD has proven he's ready to be a president. With that debate with Tim Walts. It just, it looked like a professional basketball player playing me 101. And you're just watching and saying, Pat, you have no clue what you're doing. No, you're right because I'm playing up against Kevin Durant and I don't know what I'm doing when I'm playing against guy like that. So JD Vance is formidable enough to be a two term president. Okay, so if Trump is a one term, JD is a two term president now you got 12 years of momentum. And this is to blame for what Barack Obama and what Fauci and what Biden and what Harris and what a lot of this establishment did during the four years during COVID No one forgot that. There's a lot of people that didn't forget it. They are so angry. There is 14 year old kids that are now 18 years old that will never forget how 19, 9th grade was permanently for the rest of their lives. I am 46 years old. I will never forget what it was like living in Iran when I was 6, 7, 8, 9, 10 years old. Never till today. I'm 46. I will never forget when Khomeini died. For 3 hours, 2 hours, my mother can't find me. We're going all over the place. Everyone's panicking. Streets are riot. It's till today. I can play that scene. I'll never forget that. Right, that stays with you. So you're 14 years old. You mean to tell me I couldn't go to school, I couldn't see my friends, I'm at home, I'm around my mom. My mom's trying to go to work. We're getting into fights. My mom and dad are fighting all the time. This caused the divorce. You guys lost your restaurant that my grandfather ran for many times since the 40s and 50s. You did that to me. That's permanent. That's permanent fire in the belly that you cannot replace. Those kids are now 18. They're going to be 22, 26, 30. That army of why male voters. 18. Young. Male voters are becoming more and more conservative is not because maybe they grew up in a conservative family. So they're not becoming more conservative. You made them feel like idiots. You made me feel like I'm abnormal for being a regular young man, a young male. Right. Young boy who I am. What is so weird about me? So I think that revolution of strong men coming back up, you're going to see a lot of that the next 4, 8, 12, 16 years, and they're going to be heroes now.

[Graham Stephan]

Wasn't a lot of those lockdowns that started with Trump as president?

[Patrick Bet-David]

Not the lockdowns, no, not. He had. What lockdowns did he do during Trump March 2020? That states, though. You can't put states. States. What they did with California, that's a state. What New York did, that's a state. That's up to the state. DeSantis here did it in Florida for two to four weeks. He opened it back up. I remember I was here. That was like a. But he's not the guy shutting it down. It's the states that are doing it. And Fauci was the one that said, well, I think it's not responsible. I have kids go to school and we need to do this. And he's putting that from the top. I think everybody needs to get a vaccine. I think everybody needs to do this. So that pressure and Trump's like, is this the person that saved all the AIDS people? I'm hearing different stories about this Fauci guy. Isn't this the same guy that was selling that whatever the LZT back in the days, and we had a cheaper version of cure for aids, but he didn't want to do it because it was making 10, $12,000. Wait a minute, who is this guy? Can you guys tell me who this guy is? Trump's trying to figure out who Fauci is. Right. So, no. What states? This is what states it. And then in la, the mayor, I think it was Via Grosso. I don't know if it was. No, it was a different mayor. That is Saying, hey, if you catch anybody that's non essential working out there and you snitch on them and tell us, we're giving you $250. Who the hell creates a model like that, right? So those kids will never forget that. They will never forget. These policies cause their parents to get a divorce. These policies cause their grandfather, who have some of their best memories ever of going to that restaurant, breaking bread, putting it into this, you know, oil and vinegar. And grandpa's telling stories about the times of Italy or about the times in Ireland, about the times of, you know, whatever they were. And these are memories, these kids. And luckily you did, you destroyed that. My grandpa worked on that. How many restaurants, nearly 100,000 restaurants. 50 million workers in the service business were not having a job. You did that to me. I will never forget that. They're going to get older and those convictions are not going away. And universities are going to face a lot of these kids. What do you think Charlie Kirk is doing with Turning Point usa? You don't have to like the guy, you don't have to agree with the guy. But let me tell you, that guy's a very formidable guy and his army is getting bigger and bigger. That guy's going to be formidable. There are a lot of kids that are looking at what he's doing and others are doing, that's going to be around the next 10, 20 years. But if Trump wins and Vance plays offense and Vance is more involved in having victories and Trump gives Vance certain responsibilities, that he is the face winning, not Trump, if that, if Trump is comfortable with Vance getting public victories, sometimes even more than him, if he's okay with that, that some of the credit goes to Vance and he's not upset about it, Vance will go eight years. But if all of a sudden Vance gets a little bit too much attention and it rubs him the wrong way and Vance gets a little bit too cocky that he's doing it and it gets to his head, even a subtle smirk, when somebody asked a question that says the following. If you want to find out a divisive question to ask Vance, you know what it is. You ready for the divisive question? Hey, J.D. a lot of people are saying you're the President of United States and President Trump is the Vice President. A lot of people are saying you're the one that's doing all this stuff right now, it's because of you. How do you feel about that? If he smiles for half a second and President Trump is at Mar a Lago and sees that Trump, now you have division. These are some of the things you got to be ready for because the games are going to be pinned to pin Trump against JD if they're able to find a way to pin Trump against JD and now Trump is not happy about the attention that JD Is getting. Vance is not going to get reelected because he'll be another Mike Pence. Trump's not going to let that happen. JD has to realize you are not the alpha. He has to give all the praise and edification to Trump the next four years. Zero taking credit. If he does that, the head honcho at the top is going to give him the biggest endorsement for 2028 and he'll get in if it's not Vivek or somebody else, but he'll be one of those guys. But I think if that takes place, you got Ilan, you got Bobby, you got Tulsi, you got Tucker. If all of these things are taking place, ooh, this is not good for these guys. For the next 12 they missed the mark on podcasting. They missed the mark on the way they presented their argument during COVID This may not just be four years. It may be four, eight, 12 years.

[Graham Stephan]

It's interesting too. We've said for the last two years that we've tried to get people on the left. We almost never get a response back or they just say no. People on the right seem to have no problem going on podcasting.

[Patrick Bet-David]

Why do you think.

[Graham Stephan]

My thought is that? Or what Ben told us, Ben Shapiro, which I agree with, is that the left overall has legacy media and they don't need to do podcasting to get their voice out there because they could go to a big publication or a big news outlet and say whatever they want.

[Patrick Bet-David]

But you think it's just that? I don't know if it's just that. He's right that it's just that. But there is a layer deeper than that. It's not just that because what if it was the other way around?

[Graham Stephan]

My dad works in B2B marketing.

[Patrick Bet-David]

He came by my school for career.

[Graham Stephan]

Day and said he was a big roas man.

[Jack]

Then he told everyone how much he.

[Patrick Bet-David]

Loved calculating his return on ad spend. My friends still laugh at me to this day.

[Jack]

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[Patrick Bet-David]

To be what if we're cable, okay? And cable's a new thing. And podcast came first. Flip it. Let's say podcast came first, and cable is us now, just a different platform. Okay, and what if cable didn't agree to send you the questions, but podcasters agreed to send you all a list of questions and you could say, don't ask this, don't ask this, don't ask this. Which one would be legacy? It'd be legacy podcasters against media and mainstream media. The cable network would be, what? Oh, these guys. I'm never going to go on cable because they don't give me the questions. Right? It's about who is controlled and is willing to release the questions and follow the guidelines and the ask that they're making. Whoever does that, they're favored by him. Whoever doesn't. Doesn't think about. Think about anything. You are very confident about speaking on. Are you okay? If a person asks you any questions on that, you're like, yeah, sure. What if you're not. What if you don't know a lot about certain things and you're afraid to go out and get exposed?

[Graham Stephan]

Right?

[Patrick Bet-David]

And you're like, oh, shit, that was not good. That was a bad piece that went out. Oh, hey, we have to protect me. That cannot happen again. You guys got to make me look good. There was a SportsCenter commercial once with Dwyane Wade, and he's sitting there with the editors at SportsCenter, and he's saying, hey, can you show me staying in the air a little bit longer than he did? I want you to edit it this way to make the highlight better. And it's funny. It's supposed to be like, you know, satire. And they're making fun of. And Dwayne was like, this doesn't make me look good. We have to make me look better. Right? And he's talking to the editors. As much as that is comedy and they're trying to joke about it, a part of it is that, Hey, 60 Minutes, can you edit this this way? So I give a stronger answer on Netanyahu versus the answer that I gave. Cut that one and put the better one in there. Podcasters are not going to do that.

[Jack]

That is interesting. It made. It reminded me of, actually. So we've had a lot of people on the left, a lot of people on the right on our show. We've been requested one time to cut out some of the conversation, and that came from somebody on the left. Never, never heard anything like that from anybody on the right.

[Patrick Bet-David]

We just had the Recent one with the Rock. When I Put the Rocks interview, I asked him a lot of questions about. I said, who do you think your followership is? You think you're more. You think they're more conservative or more on the left? I said, because you were pro military right conservative. Moana is a family movie conservative. Your WWE conservative. You're a badass conservative. Working out conservative. You know, all the. You're conservative. I said, you know, most. Like, have you guys ever broken down the audience? So we do the interview afterwards. I have a call and I get an email. You gotta cut these 18, 18, 19 minutes. And I lost it. We're at dinner at the Casa de Angelo, and my dad is at dinner. This is the day that my dad's sister passed away. And I took my dad to dinner because he was. He was going through it, and my oldest son was there. I'm like, I'm not doing this. Da, da, da, da, da. Now respect to Dwayne. I said, dwayne, here's what's going on. And I'm telling you, if we cut this, this is a bad look. He says, give me 24 hours. We talk. He says, pat, put the whole thing out there. I have no problem with the interview. And then the audience was able to enjoy the interview. When we're talking about politics, it's uncomfortable because this guy's the most famous guy in Hollywood. 600 million followers. He's got like 500 million followers on Instagram, right? How many guys in that space are like the Rock that will call me directly and say, hey, let's do this? Most of them are protected. It's a very weird space. Most people are walking on eggshells. These famous people are walking on eggshells, afraid of what to say. And that's why guys like Joe are winning.

[Graham Stephan]

But really quick. You might have noticed that since last year, the Iced coffee hour has grown substantially. We've passed 1 million subscribers. We've had big guests on, like, Jordan Peterson, Michael Saylor, and Ben Shapiro, and we're even about to pass a billion views. The point is, a lot has changed over the last year. And if you have a growing e commerce business, it's probably been the same for you too.

[Jack]

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[Graham Stephan]

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[Jack]

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[Graham Stephan]

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[Jack]

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[Graham Stephan]

So go to shipstation.comich to sign up for a free 60 day trial shipstation.comich with the link down below in the description. Thank you so much shipstation for sponsoring this episode. And now let's get back to the podcast. But you know what? Before we go into that, you have to ask yourself what makes a leader stand out? Because it's not just about taking charge, but about setting new standards and embracing bold moves. That's why if you lead by example and live with passion, then our sponsor, the Range Rover Sport is made for you. Every model of the Range Rover Sport offers a unique blend of dynamic sophistication and sporting luxury. It's where refined elegance meets visceral power. With focused on road performance and world renowned off road capability, this vehicle rises to every occasion.

[Jack]

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[Graham Stephan]

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[Jack]

Let's talk about a few more personal things. So you've mentioned that you're a minority owner in the Yankees. They're in the World Series. So congratulations. I know, I'm sorry. I know know, I know.

[Patrick Bet-David]

You have to realize sports to me is emotional. I love sports. You know, I love the, the, the game. To me, baseball is spiritual. You go on the field. There's something very unique about baseball.

[Jack]

Now I'm guessing that a lot of this contract is behind NDAs and stuff like that. How much can you talk about your ownership of the Yankees? I'm curious to know, what's the roi?

[Patrick Bet-David]

Very good. Are you kidding me? Like, oh, I made whatever the Forbes return is for sports teams. That's what everybody follows I'm the number I'm going to say is 14%. Right. What gives 14%? Not a lot of stuff gives 14%. Yankees did last year with my equity. Okay.

[Graham Stephan]

Now could that also be because the stock market's gone up?

[Patrick Bet-David]

You're right that the market's gone up, but that's not really the case. It's a non duplicatable asset. You don't have go on the stock market and buy a share to Yankees today when that happens and you got the money go in because that's the number one organization about over any. You don't get into the Yankees. Right.

[Graham Stephan]

Do you get a cash on cash return or is it that you just lock up your money and eventually.

[Patrick Bet-David]

That's right.

[Jack]

Something you can sell it eventually.

[Patrick Bet-David]

Some teams you get dividends. Of course you can sell it. By the way. Just think like.

[Jack]

But it's hard because you have to get the buyer to have clearance and.

[Patrick Bet-David]

Yeah, but, but do you remember when Shamat put the tweet about when he put $25 million in Golden State? What happened 10 years later? Have you ever seen this tweet?

[Jack]

No.

[Patrick Bet-David]

He bought it in 2010 for $25 million. So 25 on 450 now the team is worth 5.6 billion. So you know that 25 million made him $250 million eventually. I'd like to be a majority owner of a team. I love baseball. I don't know if it's going to be the Yankees because I don't think they're going to want to sell. And Yankees is going to be the most expensive one to be a majority owner. I think I would make one. I think I'd make a good owner with our leadership team because we love the game and there's pride behind it. It's not just a business decision. We actually love the game. We'd fly back and forth if it's the Yankees or a team here and we do some creative things. But I no longer have to go to a second background check if I choose to become a majority. If I choose to go from a minority to a majority, I would have to sell 100% of shares that I have of the Yankees if it's not the Yankees to be able to get the other team. But now MLB knows who I am. I don't need to go do a background check.

[Graham Stephan]

Why don't they go public or any sports team for that matter. And then, then you could trade the teams as you would stocks in terms.

[Patrick Bet-David]

Of like which ones there's somebody that did that, that you can actually buy shares of a team.

[Graham Stephan]

Right now they, they've just started doing it with esports teams. And they're terrible investments because it's, they don't make money, but sports teams do.

[Patrick Bet-David]

I can tell you the Yankees investment is grown exponentially. That's.

[Jack]

I wouldn't have guessed that too. That's fascinating.

[Graham Stephan]

How, what's the minimum investment to be able to buy into a sports team like that?

[Patrick Bet-David]

What kind of a team? If you want to go like, let's just say the Memphis Grizzlies, you can probably get in at 5, 10 million bucks. If you want to go to Dodgers, Yankees, 40 million bucks cash. To go through something like this because it's Yankees, they don't want a lot of owners. They don't want 600 names, they want 20 names. They want a few names. And they want to make sure these are certain people that you're looking at that represents the brand, is somebody has the gravitas. All this other, it's Yankees.

[Jack]

On the topic of your own personal investments, you've also mentioned that your net worth is like 500 million bucks. How would you divide that up? Where, where's the money located? Is it like what percent gold? Maybe Bitcoin.

[Patrick Bet-David]

So we just bought an 11 acre building, cash, $25.2 million on the airport, two hangars. Brian Spank. You know, this property was bought in 2018 for 25 million. Guy put $7 million of upgrades and then he went away. He got in trouble because of a government fraud, something he did, $130 million. And this went into the bankruptcy court and there was a auction. And in the auction, there was 4400 people that were interested in the property. 131 that signed the NDA. And then there was the auction on the Zoom. There's like 40 people in the room and you had to put a million dollars to be able to bid. And if you don't complete it, you lose a million dollars. And then when you do compete and you're the winning bidder, you have to give them cash within two weeks. Within a week, we cut the check, we wired the money over to them, got the keys, we moved in. We're going to build our entire. Right now we're building three buildings on that land, each 100,000 square feet to us, 2,000 employees. It's, it's. I mean, you got to come see what the place looks like. We're going to build one of the biggest holding companies in the world right now. Our consulting firm is growing exponentially on the amount of clients that we're managing. Bed david.com bedavidconsulting.com if you go to bed david.com it'll explain our five by five rule. On the bottom of the website there's a 22 minute video worth watching. So we're consulting for a lot of different organizations right now, companies from 60 plus countries. So the consulting firm, it's a, it's going to be a behemoth because we're, this is. And we're not MBA people that got a degree. And I'm telling you what to do. Everything we're teaching you or sharing with you, we've done raising first round a million, then 10 million, then 35 million, selling a business for a quarter of a billion dollars, hiring 20, 30 C suite executives, all the mistakes you make in HR, technology, making the investment in technology to increase the EBITDA from 5x to 15 to 20x. All of these things you're going through, we share that with. You may come in and say, well, how do you balance that out? We're creating a marketing brand or podcast or this or that. There's nothing I'm sharing with you that is lip service, tears from a book. So when you come in, we'll literally sit there and say, let me show you our YouTube channel. Here's what we're doing. This is what failed. This is what worked. Here's how much money we're spending with this. This is what we're doing with this. So that's that part. So aside last time when you and I spoke when we talked about cash, I said $200 million. You remember? I think this was like, this was the first one you and we did, right? How much cash and all this stuff. There's been multiple events since then and Manect has grown in ways. I don't know if you guys are on Manect or not. Manect has grown exponentially with what we're doing with the app. I have right now nine unanswered Manex. Yesterday I did 56 Manex. Okay. And I will literally, matter of fact, let's do a manek right now on video to freak out the attendee, the person. Good evening, Patrick. As I've been resident in San Antonio over the past decade, I've had the opportunity to connect with some very successful individuals, both politically and leaders in business. Can you give me five questions that you would ask? I'm going to come to you to give them a question. Key individuals as you were strengthening your business and Connections with them. I only have have a few moments to visit them. So then he is paying 240 for this video. Talent's going to make 80%. Manette keeps 20. So five questions. You would ask these people to build a different relationship. I'm going to go here. Boom. So, Justin, you got lucky because right now I'm doing a live podcast. Graham Stephan. Okay, we got, we got our friends here that we're doing a podcast. They're very good interviewers. This is our third time we're doing it with them. Five questions. Graham, what would you say if you're building a relationship with new business owners? What questions would you ask them if you're trying to network with them?

[Graham Stephan]

I always like knowing what your biggest regret is because you could usually think of one really quickly that stands out. And I think that tells you a lot about the person, what they would change, if anything.

[Patrick Bet-David]

There you go. For me, the more you're interested in them instead of trying to be interesting sometimes. I had a guy the other day, comes to want a 30 minute meeting with me, 29 minutes, he's talking about himself, walked away, he got nothing. And I don't mind that because I'm interested. So I want to hear you. But if you go like Sam Walton, I'll give you a story. Many years ago, found out about a market in Brazil and these guys wanted to come to him to see what he was doing with Walmart. They flew out, he picked them up in a truck. They spent an entire day with them. The entire day. When the interview was, when the time was done with these guys, they said, so what'd you learn from Sam Walton? He says, all Sam did for eight hours is ask us questions. Quite frankly, I know nothing about what they're doing. Be interested, not interesting in that long ways. You'll not only learn a lot, but they'll like the fact that you're interested in them. Anyways, God bless, buddy. Take care. Bye bye. So this video is gone. I'll use this video. If he makes it public for other people to see it, I'll give him a 10% discount. Submit it. Gone. 240 bucks. Manect. This thing has grown. In our first year when we came out with this app, Manek, we did 28. Completed Manex four years ago. Second year we did 255. Third year we did 2550. This year we're at 36,000. Completed Manex in 2024. And we have a whole engineering team with us that's grown the downloads all the Stuff that's going on. Manect is going to be a combination of Duolingo, which I'm sure you're familiar with. Duolingo, GLG, Cameo, LinkedIn and WhatsApp. All of those features we're working on right now with the engineers we've hired. So you got the consulting firm, you got Manek, we got VTNews, AI, you got PBD, podcast and a few other businesses that we're running. All that valuation right now, you can put it between three to $400 million. All those businesses.

[Graham Stephan]

And where are you investing?

[Patrick Bet-David]

Personally, in whatever I'm operating, of course. I have what I've set up for my family. Certain funds I'm looking at where I'm not picking stocks. I have a couple million in Bitcoin. Not a lot. I have a half a million to a million, I think something like that in Ethereum. Again, not a lot. I have 10 to 15 million dollars in collectible cards. And then I got the money in the Yankees. I owned around $50 million in commercial real estate, $60 million in commercial real estate. Our house has a lot of equity and it's a $40 million property. And then I still am one of the biggest shareholders. Class A shares in the insurance company that bought us have a lot of shares in that and in everything that I'm operating. And throughout my career, I've made some good investments that have done pretty well for us.

[Jack]

What's your favorite baseball card?

[Patrick Bet-David]

You have favorite baseball card? Okay, So I mean, 1933 Babe Ruth, Gowdy PSA 8. Love that card. Card. Ted Williams, rookie card. Joe DiMaggio rookie card. A Patrick Mahomes, one of one. That's probably a two million dollar card. It's a sick card. I have a Zion Williamson card that you'll hear about when I sell it. It's going to be a big card and I'm talking like seven figure plus type of a card. Well, you know about the offer I made on The Mickey Mantle PSA 10. Do you know about that or.

[Jack]

No, but that's crazy.

[Patrick Bet-David]

I made a. There's three of them in the world and I made a $19 million offer to buy that card and they turned me down. Yeah, which.

[Jack]

Which Mickey Mantle is.

[Patrick Bet-David]

It is Mickey Mantle, 1952, tops. PSA 10. I made a $19 million offer. Who owns it? One guy that owns it owns the Diamondbacks. Another guy that owns it bought that car for $125,000 in 1994. And another guy that owns it is a big Card investor in the game. Yeah. Trust me, I know.

[Jack]

Where would you.

[Patrick Bet-David]

How.

[Jack]

How would you have framed that? Like the Mona Lisa, like 10 layers.

[Patrick Bet-David]

I would love to have the card. I'm not overpaying for the card. I'll pay overpay a little bit on the market because you got to do that for a car like that. But not the number they're asking me. But if I did buy it, I'm never going to sell that. That's something that's going to be in the family for God knows how many years. No, that's a Mickey Mantle PSA 10.

[Jack]

PSA 10 is crazy.

[Patrick Bet-David]

Talking about like, like the holy grail of cards.

[Graham Stephan]

So I'm curious, where do you see the next big opportunities over the next five to 10 years? And if you were starting over today with nothing and your goal was to get a million dollars, what would you do?

[Patrick Bet-David]

What is my. So that that question is loaded because I don't know my skill set. So one, I'm going to assess you based on star. Are you an organized person? Are you a technical person? Are you a competitive, action oriented person? Are you a relationship person? So those are your strengths. Now let's go to the other side. Are you a math person? You know, where you're super, super data. Are you a person that is, you know, kind of quiet to yourself that you're willing to sit there and learn how to code and do all that other stuff and you're just enamored by building video games and undoing computers and build them back up? It's a different skill set. Are you. My youngest son is so comfortable. If he came here, he would talk to you like, he's just a regular guy. He would talk to like, you guys are boys. He's super comfortable talking to anybody. I mean, you know, he saw Trump talks to him. He saw Tom Brady, hey, throw me the ball. I want to play catch with you. Saw Kobe talk to Kobe for 15 minutes. He's just not intimidated by anybody, especially with all these figures that he's met over his lifetime. He's a natural sales guy. He can go sell. He's going to do very good. He's going to be selling merch next week at our election nights. He's going to be one of the merch salespeople at 11 years old. So I have to know what your strengths are. For me, I learned very early on I love math and numbers. I love people. And I'm very curious. That is a perfect quality for a financial advisor. So it's very Easy to profile, to kind of say, this is what you're going to do, get in. But if I see somebody that hates numbers, doesn't like to talk to people and is not that curious, and you just want to kind of sit there and code and do something, I can't give you the same thing. What I will tell you, that's Evergreen for everybody, no matter what it is. If you want to be a coder, if you want to be a salesperson, if you want to be anything, if you can find five killers that you can go work for and shout, if you want to be a great podcaster. How much would you benefit from working for Rogan for a year? What do you think? How much would you benefit from working with Jamie? The value is on who you work for a year. Two years to learn. Market's going to pay you what the market's going to pay you. But if you want to say million to me, easiest way to do it is sales.

[Graham Stephan]

I'm going to ask you a few questions that I guarantee you've never been asked before.

[Patrick Bet-David]

Let's hear it.

[Graham Stephan]

These are very interesting. These are hypotheticals.

[Patrick Bet-David]

Okay?

[Graham Stephan]

The first one is called the employee who cheats. You discovered that a high performing employee is cheating the company, but is bringing in significant profits. If you fire them, the company might suffer. Do you report it or keep it quiet?

[Patrick Bet-David]

What kind of cheating is it?

[Graham Stephan]

Let's do the example of an employee who's stealing money.

[Patrick Bet-David]

Okay, so let me give you a couple stories. One time I had one of my guys that was working for me many, many years ago, and they were reporting some things in ways that I did not approve to make things look better for them. I had a very direct conversation with them, sat them down, told them, you don't need to do this to impress me. If you ever do this again, this is the last chance you're getting. You're getting fired if you do this ever again. It was innocent. It was not illegal. It was innocent. I said, you can't do it. It never happened again. We had another person that was. This one's an awkward one because it was our neighbor who we used to go to Bible study with. This person, that person's daughter. They said, can you please give this person a job? We did. This person came and worked for us and they wanted to get paid in checks. It was the only employment. Like, why do you want to get paid in checks? I don't want to get direct deposit. I don't want to check. So I'm like, okay, whatever. Paychecks so they're with us for three months. Front desk clerk, three months later, I get a report, Chase calls me saying, hey, fraud, fraudulent activity going on with such and such employee. You have an employee that's done XYZ from you. They've taken the same check and reprinted it and have gone in and have taken $3,500 from you. And this was in California. Here's where we're going with them. Whether you decide to claim charges or not, we're going after them and they're probably going to go to jail. Okay? We're just informing you of this. I said, you got to be kidding me. No, I made the phone call to the mother and I said, I got some bad news for you and you need to hear it from me before it happens to you. What's that? We're firing your daughter. Your daughter stole $3,500 from us. Whatever. 32, $3,500 from us. And we got call from the bank. The bank reported it that it's fraud, but she's going to go to jail for fraud and she's fired. I'm sorry to have to give this news to you because we're neighbors, but this is what's happening. The mother and the stepfather are in tears, crying because the person she was with had done this before. And they were hoping that now she was a going to church that came, started working for us. The Sabbath was going to stop. We fired him on the spot. No hesitation. Okay? The other thing I will tell you is sometimes you need to do a better job putting controls in place so your kids don't do anything that gets them in trouble. Sometimes we make it easy for employees to do things that they get in trouble. So I used to bring in forensics guys and I still do till today. And nobody knows. I hire forensics guys to come and audit the company cars that you have. You bought two books on Amazon. That wasn't for me. You bought it for yourself. The forensics guys will identify all of that takes two weeks. You spend a couple hundred thousand dollars. But they're going to identify who exactly is doing fraud and who's not. And unfortunately, when you do that, guess what you have to be ready for. They got to have a few calls to fire them. And typically, the way it happens, to save face, you go to them and you say, this is you. This was not for us or the company. Who did you buy this for? And within seconds, they break. You need to resign. Today you're out. We wish you nothing. But the Best. God bless. You can't do that here ever again. You need to move on. Insurance. We had a guy one time, insurance, him and his wife. He was in Florida, she was in North Carolina. She was the licensed person. He went and sold an insurance policy in North Carolina to a client, and he was not the licensed person. She was. And he was great. Very good Communicator. Was making $120,000 with us. One client called us and told us that she, the client had never met her. I'm like, wait, what? I've never. She's a licensed person? Yes. He's not? Yes. You've never met her? No. You're serious? Yeah. Got it. Hey, guys, emergency meeting. How many policies does this person sell? 54. Call every client and find out who sold to this client and see if they've ever met her. Out of all the clients, 50% had never met the writing agent who was licensed. It was all him. We called them, got on the call, they lied. He was the liar. He was very bold liar. Was a great liar. Then at the end of the call, we showed because we wanted to give him a chance to see if he was going to be honest about it or not. Nope. We terminated them, reported them to the Department of Insurance. They can never sell life insurance for 10 years. Whatever the timeline was, we've been in this compliance space of people trying to steal money from us for a long time. And it's always nasty because it's a stupid mistake people make and thinking they're going to get away. Nowadays, there's plenty of technology to catch people.

[Jack]

You mentioned the importance of showing vulnerability to come off as relatable in terms of Trump. When is it okay to show emotion as a man? And when is the last time you cried?

[Patrick Bet-David]

If you ask my wife, you can manect her. By the way, Jennifer, Bed David is on manect. Here's her QR code. Babe, I just gave you a shout out. If you just click on this QR code, which you can do, you say.

[Jack]

Relationship expert, what kind of topics?

[Patrick Bet-David]

You know, a lot of people are better off asking my wife questions to see what it's like. Now it's. But specifically, like, people want to know what. Ask my wife. She'll tell you a different thing. But my wife's probably going to tell you she's not seen me cry many times. One time she saw me cry and it was very weird how this one friend, really, I was hurt one night when he died. Jim Pagerick. I loved Jim. I loved Jim a lot. And he was Part of a biker gang many years ago, and him and I used to travel together and we would share rooms together. When I found out he died, I went to his funeral. I didn't cry. But two months later, in the middle of the night at midnight, for 15 minutes, I just had to step away. I'm like, what the hell are you going through? I really miss my friend Jim Patrick, and I love Jim. That really hurt me a lot. But if you tell me the most recent time was Lewis Howes, when he asked me the question about, what if you lost it all? And it was, God, I don't even know what happened that day. I didn't have anything weird that happened to me that day. But he asked me that question. I'm like, whoa, what was this all about? Because I am a very, very lucky man for the life I'm living today. I'm super grateful for where I'm at, for the responsibilities I have for my family, for living in America, for the industry I'm a part of, for the fact that I build a business that people like working with me, and the fact that we've been able to compete and do certain big things in life. I'm very grateful for that. So I would say the last time I cried was the Lewis house interview when he asked me about Gan. But I'm not a big crier when it comes down to it really has to be something that really gets me to break.

[Graham Stephan]

That's fair. One last one, because we know you have to go. It's a bit of a controversial question that's going on social media. If you rank importance of your mom, daughter, and wife in order, who comes first?

[Patrick Bet-David]

You know, that's a cultural question because the question used to be, if you're on a boat and it's your mom, your daughter, your wife, you can only save two. Who do you throw off the boat? That's a. That's a funny.

[Graham Stephan]

I've never heard this.

[Patrick Bet-David]

Oh, yeah, yeah, That's. That's a question that we used to debate 20 years ago. And you would hear Hispanics most often would save the mom's life because it's who that means the most to them. Americans choose wife. I'm going to save my wife because my mom's already lived her life. And my wife and I, we can have more kids. And, you know, you can give the trick answer to say, I'll jump off with my mom and I'll try to swim. You trying, you can get creative, but you're trying to corner somebody to make the Answer to the question. It's purely a cultural question to answer. And to me, the kid hasn't lived their life yet. That kid's got to have an opportunity for life. And the rest of us have lived life already. I want this kid to experience life. If I've lived 46, that's 46 more years than my kid has lived. Go ahead and give that kid the opportunity to live the life. I'm okay, by the way. Today I'm 46 years old. I have lived a life of 100 average men combined. Not in an arrogant way. Also the nasty side, the ugly side, the tough side. I've lived an incredible life. If today I'm gone, you have no idea. There's no complaining. I'd like 50 more years, but if he says no, it's done. Dude, let's roll. I'll go upstairs and play backgammon with whoever's there. And I'll go clean some clouds and chill out. And what job you have for me up here. I don't know if there's podcasting in heaven. If there is, I'm sure I'll do a podcast. I don't know if I'm selling insurance. Because you don't have any need for life insurance. You're already dead. Right. So it's going to be confusing what I'm going to be selling. Telling. But yeah, it's a cultural question you're asking, and that's my answer to that question.

[Graham Stephan]

Love it. Thank you so much.

[Patrick Bet-David]

Anytime.

[Graham Stephan]

We'll do this again next year.

[Patrick Bet-David]

Yes, it's a tradition now. You guys are grown. You guys are doing phenomenal. Thank you.

[Graham Stephan]

Really appreciate it.

[Jack]

We'll link Manekt down below in the description. I kind of want to join my neck. That sounds kind of fun. I like talking about podcasts. Grandma. Jordan.

[Graham Stephan]

I'm on Manect, by the way.

[Patrick Bet-David]

You're on as an expert or as a user?

[Graham Stephan]

I think. I think as an expert. I signed up a year ago, but.

[Patrick Bet-David]

We'Ll get you guys situated and I'll get you a feature.

[Jack]

Thank you. Again.

[Patrick Bet-David]

Anytime. Thank you.

[Graham Stephan]

Until next time.