← The Money Mondays
The Money Mondays
From the Bronx to Building an Empire: Vince Ricci on Business, Investing & Giving Back 🏰 E166
00:31:44
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- [00:00]
A
Foreign. Ladies and gentlemen, welcome to a special edition of the Money Mondays podcast where we cover three core how to make money, how to invest money, how to give away to charity. This gentleman has been a part of my life for many, many, many years. Over 12 years ago started this charity called the Trina's Kids Foundation. So the charity part of this episode at the end, you're going to hear from someone that that broke the Guinness Brook world record for the world's largest toy drive. We're actually inside of the building where it all started called Hubble Studio in downtown Los Angeles where when the charity first started, there was eight volunteers on the floor. Now filling up stadiums, the Miami basketball arena, et cetera, et cetera. We'll get into that later. On the make money side, Hubble Studio also is multiple buildings. There's tens of thousands of square feet, multiple different studios. So we're going to dive into that. This is going to be one of those episodes that, that it's not just for you. It could be for someone from your past, present or future. It could be for someone four months from now or four years from now where you remember, I need to show this episode and share it with them because you might be able to change their life. What this guest tells you today. So without further ado, Vince Ritchie, give us the quick 2 minute bio so we can get straight to the money.
- [01:13]
B
What's going on, Dan? My name is Vince Ritchie and I'm an Italian American from the Bronx, New York, migrated out to California 13 years ago. So seeking opportunity. This is when I felt like a lot of people come in this way. Production industry was coming back. They had just recently lowered a bunch of taxes on bringing a lot of stuff back from Canada, opened Hubble Studio. Hubble Studio exploded within photo and film industry. So we created Hubble Agency, which then produced the content, built assets, did different marketing campaigns for people and then under that I ended up getting involved in a couple of the ventures, different brands, cannabis brand, a coffee brand, a clothing brand, makeup brand, different things like that.
- [01:53]
A
All right, that's a lot to unpack there. On the make money side of this podcast, how does a studio like Hubble Studio, how do you make money? What's the business here? If a client was listening, what would they utilize you guys for?
- [02:04]
B
So we're a full service production company. So basically more high end, high demanding companies like Avogue, Harper Bazaar, Nike, Aloe, Hyperice would want to use us because we're a one stop shop. You don't need a huge team. You could show up. We provide all the production, all digital, all lighting, down to craft, catering, valet parking, every single aspect that you need to do. You know, a production is pretty much a mini event. It's going to be a 12 hour day. You have talent that you have to entertain. You have celebrity photographers, you have to change celebrity directors, you have to entertain some of these people that are very high paid, they have very high maintenance. Everybody's a celebrity that day. We cater up. Our uniqueness in our business is that we treat everybody, Triple A, everybody that walks on everybody's important. Nobody gets felt like they don't understand what's going on. So it makes your job very easy as a producer that you come in and you know that we have it covered. And at any minute we could cover whatever problem you have. That's really uniqueness in what we do as a business.
- [03:10]
A
So when a brand calls and they don't know what to do, how do you guide them? Like you know, hey, we have a hundred thousand dollar budget or $200,000 budget. How do you guide them to figure out what the heck they're supposed to be doing?
- [03:20]
B
Well, break down how many assets they want, what do they really want to achieve, how to do it. And really we try to help them save money, which doesn't behoove me as a business owner, but I try all the way.
- [03:30]
A
They want to come back to you after that.
- [03:31]
B
That's why we have loyalty with our customers. Because people know I'm like, hey, you definitely don't need to do this for this. Let's do this, unpack it and say, what do you really need to spend on? You don't need to spend on that. You don't need to spend on this. You don't need all the models all day. You can book them throughout the day, especially if they're not shooting together. Just different ways of having them save money. And we come in and help them budget. And that's really where the longevity has been for us with our clientele.
- [03:55]
A
So someone like a brand like Vogue magazine, they can choose from a lot of studios all over Los Angeles. Why do they keep coming back to you over and over over the years?
- [04:03]
B
Strictly relationships. Because most likely they've been on set and something went wrong and we were like, don't worry about it, we'll cover it. We've had goat here one time and
- [04:12]
A
they literally goat like Tom Brady or goat like a.
- [04:15]
B
No, no, like goat like this company. And their challenges didn't show up and the producer started to cry and I Was here late that day, and I was like, you know what? Don't worry about it. I said, rebook in the budget. This. And I said, everything was in house. Everything. We did.
- [04:32]
A
Wow.
- [04:33]
B
We didn't lose that much. You know, it was a day. It was a working day. But they were a great partner. We had done collabs with them together, and I was like, you know what? Just don't worry about it. Just come back. It's on us.
- [04:46]
A
Wow.
- [04:47]
B
I felt like that was a strategic business move.
- [04:49]
A
Sure.
- [04:50]
B
You know, that kept a relationship, and people want to come back because of the relationship. When you're dealing with a human, you come back when you go to the Beverly Hills hotel, and then the concierge knows who you are. You come back when you go to the Equinox hotel in New York and they greet you downstairs. You come back when you go somewhere else, and they're like, who are you? What are you?
- [05:07]
A
Oh, we're sorry that they didn't show up today, but here's your invoice for the day. You still gotta owe us $45,000.
- [05:11]
B
Yeah, exactly. You take the human aspect out of it. We make everything human. And that's why Trina's kids have been so successful here. So many of our clients show up. So many of our volunteers show up. Our work with us, previous employees, previous clients, existing clients, future clients come, and it just creates this ecosystem.
- [05:31]
A
So as you're building up over the years of first, there was the one main building over here, and then there's a second building and a third building. I think we're in number three or number four buildings that you have here. Like, when did you decide, you know what, I'm going to start expanding to more buildings?
- [05:43]
B
Well, two things happened. I knew that they were knocking down the old bridge, so I purchased the original buildings, and they were building this colossal 6th street bridge in this big park underneath it. I don't know if you've walked by. It's going to be this monumental thing for the city of Los Angeles. And I said, you know, this is going to be key for the city and for this area down here. I want to kind of make my mark. Right.
- [06:05]
A
Here's your flag in the ground.
- [06:06]
B
Yeah. And we're adjacent to Boyle Heights. That's a big community that we invite in for a lot of our events. So I know these kids. I watch these kids grow up. And I was already so invested into the community, I said, let's just start to expand. And I seen the business going somewhere. I seen that I was good at it, and I seen that people liked to deal with me, and I could figure things out on the fly. And I said, all right, let's start to expand.
- [06:28]
A
So the Canvas brand, the clothing brand, are all the same names or these different brands? Walk us through the different brands.
- [06:33]
B
They're all different brands. We have a kids clothing line called Cambia Kids that my wife actually created that's completely separate for the people who know, know that it's on the Hubbell Studio. We have the Hubbell brand, and then we have Balance, which is a cann. And Balance became its own thing and really took off during COVID and we watched it skyrocket. I think that the bespoke part about it is that people that know the exclusivity of Hubble and what we've done then know that balance is under it. They're like, oh, that makes sense. That's why their branding is so good. That's why they have a very sexy appeal. It's very, very modern. When you know, you know, so it's kind of like a one of these Italian fashion houses that own a bunch of other brands. But when you know it's part of that, that's how you know lvmh. Yeah.
- [07:18]
A
So there are thousands and thousands and thousands of canvas cannabis brands. There are thousands and thousands of kids clothing brands. How do you stand out from these competitors?
- [07:28]
B
For the clothing brand side, it's our. It's our blends that my wife hand purchased.
- [07:35]
A
The material.
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B
Yeah, the material that it's. It's more of a higher end. It's what we want to put our kids in. It's durable. Until I had kids, I didn't realize how good it was. And then when I realized you need
- [07:45]
A
it to be durable, I need it to be durable.
- [07:46]
B
One and two. I'm physically grabbing that. Not because it's mine, not because we own the brand, because I personally like it. I like the way it drapes off my kids. I like the way it's constantly reusable. And it still looks great. It's expensive, but it continues to look great. And I'd rather buy stuff that last 68 washes as opposed to something that lasts four washes or a shirt that my daughter got at a kid's birthday party that she loves, but literally three times in. It looks distorted. The collar's all messed up. From the cannabis side, it's a whole different business because that business has evolved. Now it's just about shortening our operating cycle and being cash flow positive. And Being able to maintain cannabis business is in a rough spot right now before it goes federally legal. And I think that they're strongly going to survive.
- [08:34]
A
So for many years, federally legal has been on everyone's minds. Do you think it's actually approaching 100%?
- [08:39]
B
It will be within the next two, three years. But as the regulations got a little tighter, as we expand in multiple states, overproduction, a lot of other products are production controlled, whether it's milk or eggs. Cannabis wasn't like that. Gave out tons of licenses and you overproduced and nobody knew what the addressable market was. Now we've kind of seen that peak and people are starting to go out of business as the prices drop down. And if you weren't able to manage your cogs, you weren't able to exist. And especially if you aren't able to ramp up in volume, you couldn't exist. What we've recently done was shorten our terms from 30 days to one week. Went completely wholesale. We've cut out all of our marketing budget, all of our other stuff, to deal more direct, less direct to consumer, more direct B2B. And it's skyrocketed our business. It's been insane.
- [09:29]
A
All right, so the investing side of the podcast, I like to understand the evolution. You start to start, you know, you were making money, then you started building businesses. Now you got this brand, this brand, this brand. At what point do you say, you know what, I'm going to start investing into some real estate. Maybe I'll do some apartments, or maybe I'll do some fix and flips, or maybe I'll do the stock market. At what point did you decide, I'm going to start investing in other things?
- [09:50]
B
Well, it was less of an emotional decision on do I want to do real estate right now? Was per deal. When I felt like it was a good opportunity, I did it. I've been investing into real estate since 2008. I was pretty young when I started doing it and I've continued to do it. I'm divesting from New York right now because I feel like the residential housing is going to take a little dip because of certain things that are going on there. So I'm going to get out of that and then 1031 that into some more commercial opportunities in Los Angeles. Because I'm here, I'm able to do it. I can control my construction team, I can go through it. The opportunities are more unique here because it was when I seen an opportunity, I had the capital to jump on it and I went after it. Now it's like if you want to buy a GT3, a car, a Porsche, for instance, it's oversells right now for $250,000 oversticker. If you really want that car, you're going to go buy that car right now. You're going to pay $550,000 for the car. Well, if you want to make a deal, if you're willing to go get an allocation, take care of somebody and wait, you'll get the car for 30 over MSRP and you'll be walking $200,000 equity the minute you buy the car. Same thing with real estate.
- [11:02]
A
So you get pitched a lot. People come to you all the time because you throw events here. You're out, you know, you're out and about. You're at conventions, events, everyone's coming here. When someone pitches you, hey, invest into my clothing brand, invest into my shoe company, invest into my plant company. How do you talk to them? How do you decide what you want to invest into?
- [11:20]
B
I think I'm betting on the jockey and not the horse at that point. It's how much I believe in the person. And one, I need radical transparency. The minute me and you talk about this all the time. The minute I catch somebody in some sort of fib, some sort of lie, I don't care what you're pitching. I'm not doing it literally. If you start off in a lie within the first minute, the rest of the conversation is just like I'm tuning it out. I think that we've seen thousands and thousands of different opportunities come our way and just around us in our ecosystem, it comes down to the person who could stick it out, the person who's going to evolve and understand that what worked for Jerry Lorenzo and fashion and 2015 is not going to work today. What worked for Teddy Santos with ADL in the early 2000s, not going to work now. How are they changing? How are they pivoting, paying attention all the time and knowing you most likely are not the market maker, you're not going to be the guys doing it. I also want the humility in person that's pitching to me to say, I know that what I know right now only lasts me today. I need to constantly change every single day and evolve. That's like the number one rule I see and want to partner up with somebody. Are they willing to learn?
- [12:40]
A
Also on the investing side, you have to make decisions about investing to yourself. You work out every single day. You're posting the content sometimes. But I know that you're working out daily, you're training on shooting, you're constantly. You're reading like you're constantly making yourself into a human weapon. Why do you spend so much time investing into yourself?
- [13:00]
B
Emotionally, it keeps me always ready. Emotionally, it makes me be able to deal with bad clients. You know, when you have someone who owes you money, tells you they're send you a wire for $300,000 on Monday, and it's six Mondays from now, and they still haven't sent you, it's very draining. It's very emotionally draining. You fight with your spouse, you get annoyed by your kids, you get annoyed by your employees. You got to make another wife counting on this to do that. When you're fully optimizing your health, it makes it a lot easier to handle a lot of that. And I could tune it out. And I think it just ups my threshold. I want to keep my hair as long as possible. I don't want to lose it from stress and dealing with so many different clients and so many different vendors. And it's constantly money in, money out with so many different businesses. It can cause a lot of stress. And if I do it at 165 pounds, feeling real good about myself, it makes it a little easier.
- [13:56]
A
So normally I don't talk outside of the money investing in the business side, but I want to ask you a question, because you did have a video that went viral getting hundreds of millions of views on every major television news station. They were interviewing about this shooting that took place in front of your house. Dealing with that from a logical perspective of the police taking away your gun for a little while or your permit for a while. Walk us through getting that many hundreds of millions of views on you, especially knowing that you still have to run your businesses, you still have to run your operations. But now the world saw you shoot back at three gentlemen. I don't call them gentlemen. Three criminals in front of your house, not gentlemen.
- [14:35]
B
I think, you know, the biggest stress of that was how it impacted my wife. It didn't bother me. It bothered me, but it didn't bother me as much as it might have bothered other people. Because I'm able to put things behind me. I've learned to deal with grief burying my parents. I've learned to deal with hard times. I grew up in the Bronx. Very definitely privilege was not in my vocabulary. I think that, you know, I feel like I've motivated a lot of people when they've seen the video, to learn that they have to stand up for themselves and I received a lot of negative feedback, a lot of flackers. But then they issued me my gun permit again two years later, and things got better. And I walk in my house without any trauma from the past. People like, how do you still live in that house? I said, I don't think we even fixed the fence. I'm pretty sure the gun holes are still there. I haven't looked in a while, but I know my guys went there. But I don't think it's fixed because it doesn't bother me, because sometimes you got to put things behind you. Now, am I happy that I was able to do exactly what I said I would do when push came to shove? Yes. But that comes from every day, showing up to be exactly who I am. I train every single day. It's like somebody posting about being a fitness guy and this, and there's certain other people that we both know that their whole presence is this, masculinity is this and that. And then they're going out and getting high on the weekends because they can't deal with their problems or they're drinking their problems or why they're doing that. It's not being masculine. It's not being a man. It's not being a father. I think that, you know, I dealt with my issues like a man. I dealt with my issues like a boss. And when people see that and when they want to invest with me, they know he could turn around. He could deal with a major issue. He could handle the publicity about it, good and bad, and he can get right back to work. I buried my mother. I went to work the next day. I buried my father. I went to work the next day because people still depended on me. My kids need me to show up. My employees need me to show up. My clients need me to show up. Just because I'm going through something doesn't mean the world stops. We need to show up every single day. And that's the number one rule about being an entrepreneur. You got to show up every day.
- [16:43]
A
So if you guys want to see that, just put in. Vince Ritchie shooting. You'll see him defending his household with his wife and children inside and fighting off three gunmen that approached his house that he successfully shot back at. During the man in the arena tour, you gave a speech called Pull the Trigger. Can you walk us through the concept of what has pulled the trigger? What does that mean to you?
- [17:04]
B
You just got to do what? You got to make a decision, a decisive decision. You need to handle it and deal with it like me. And you have spoken about different. We've both been in different situations with previous partners, people that we did a deal with, we might have sold something with, and now waiting to get paid or something's happening. All right, let's make a deal right now. Let's execute the deal. What we think we should do. I call you up, you say, go left. I'm not weaning to go left. I'm turning left immediately. I'm pulling the trigger right now. Even though that may not be the best plan, it's not the most thought out plan, but it's what two reasonably well thought out people made up right now. Let's do it. Sometimes you're better off just pulling the trigger and getting through the problem and finding out what's going on and fixing it before somebody else would have even started. You know, I mean, if we get to a race, I'm not sitting there warming up. I'm warming up on the first mile. I'm gonna stretch while I'm warming up, while I'm going. I'd rather just get this thing going and get it started. So I'm showing up, I'm pulling the trigger. Let's launch. Let's do it. Let's see what's going on. And there's so many people that waste so many years of being scared to launch this thing, of being scared to do this, and their life's wasted. I'm 40 years old. I'm just scratching the surface at being a really good CEO, Understanding executive level mindset, really having my hands in the sand of saying, like, I've done a good amount of things that I know what's going on. Am I on the Jamie Dimon level? No, he's the best. But I'm now just getting at the level where I really got a seat at the table.
- [18:45]
A
So we've had friends around us that have either been lazy or got fat and things like that. And you've taken it upon yourself to check them and jeopardize your relationship with them by being so stern with them. But now we see them become fit, healthy, and some of them even become their whole Persona now about being fit and healthy. Talk us through why you're willing to risk your relationship and why it's important to be able to tell your friends the truth, the blunt truth.
- [19:08]
B
My mother was a physical trainer when she was younger. She helped a lot of women around her. She really trained other women lose weight and change their lives. And I watched the impact from a very young age of these women that lost £100. They would call my mom on the phone and she'd be on the cord phone in the kitchen. Don't eat that, don't do it, don't do that. Let's go for a walk, let's meet. And just all those things. She had such an impact and she had such a glow. And as I got older, I watched a lot of other people when they were going through something, they resorted back to her. They would come talk to her and some people didn't want to hear it when she would reach out to them, but when they really needed her, she was the one they reached out to. She was a staple in our community, even though it was a small community. I want to make an impact and I can't, I can't call myself your friend if I'm just sitting there watching you fucking fail or kill yourself
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A
and
- [19:59]
B
not say anything and like, hey, like I'm doing it. Like you're right next to me. Let's do it together. It's like somebody being around me and you and not wanting to do business.
- [20:08]
A
Just be lazy.
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B
Yeah, it just, it doesn't. Like we're talking about so many ideas we're constantly going on. It's not bragging. It's like we're thrilled to keep doing and keep moving forward, keep making stuff happen. If you're gonna be around us or even in my peripheral, I wanna push you too. It's exciting to see somebody. It's like investing into that person. You're making them better. There's no more rewarding feeling than to invest into a person.
- [20:33]
A
All right, let's talk about the charity side of things. So 12 years ago, you named Trina's Kids foundation after your mother. What was the original concept when you first started here in Hubble Studio in Boyle Heights and having the first three or four hundred families come over here to pick up toys or Thanksgiving food, drives, etc.
- [20:53]
B
Well, we're right here. Across the street is Boyle Heights. It's a low income housing community right across the street. I didn't know it was that when we first moved here because it looks so nice. But to me, the projects in New York look a lot different than the projects in California. Everything looks nice here when it's sunny out. And when we decided to do it, I said, well, if we're going to give back at all, let's do it right now. Community, you can make an impact right here. And if every business owner out there that made 2, 3 million dollars in revenue, that has a pick and Pack shipment facility and commerce or this thing and cut a hay or whatever it is, just said, okay, let's do an annual event and give back right in our community. And that spreads to Arizona, to Wyoming, to all these other places. Think about how big of a change you can make. Sure that's like, you know, we could give back to world hunger and build a well in Africa, but when we leave, who knows who's going to maintain that and what's going to happen. What we do is right here centralized to where we are. And now we're traveling to all these other cities and we're working with local businesses right there. Whether it's a sports team, screen printing company, a jet company in Tampa, or whatever other company we deal with, they're in those communities. We're giving back to those communities. There's no better feeling than giving back in the community you're in.
- [22:11]
A
So the evolution of the charity Trina's Kids foundation again started with eight volunteers in year one. Year two there was 20, then 40, then 100. Just kept growing and growing, but now it's Miami Heat Arena, Raiders Stadium, SoFi Stadium, BMO Stadium. Like we're talking about stadiums and arenas. The efficiency, the execution, the operation is now at a massive scale. We did 240,000 toys last December, breaking another Guinness book world record. Walk us through your thoughts now, going from, okay, we're going to take care of and help your local three or four hundred families that would come over to now still doing that, but taking it to 10 cities and 240,000 toys.
- [22:53]
B
Well, I think I see a lot of other big companies, well, big charities that are doing it. When they take 9% of 7% of the annual budget and spend it on toys and we sake 100% of our budget and we spend it on toys, how much bigger could we get? Because we're doing it for the right reasons and it's exciting. And my mother in law asked me one day, she said, when are you going to sit down and settle down for the holidays and stay with the family? I said, never. This is what my family will do. My children will grow up knowing we're giving back. We're gonna travel around. There's no more rewarding feeling than giving back, but there's also no worse feeling than when you're in another state and a truck gets stolen and the 18 wheel gets stolen away. We've had every problem and so much stress, but the joy on the kids faces, the mothers that come and the
- [23:41]
A
relief on their faces, the parents.
- [23:43]
B
And it's like this is their kid's holiday. They're never gonna run on a professional field or NBA court. And they're meeting these players and they're seeing it and they're aspiring in their life to grow up and come back here and play here. They make it real. When Allen Iverson is sitting in a cafeteria with other kids, I see that kid is not much shorter than he is and he's from this neighborhood and he's giving back. They could do it too. There's no excuses. I guess I just want to keep getting bigger and bigger. I want to keep doing it not for ego, just because we're making every single time we touch a kid's life, that could be the kid that comes the next Allen Iverson to come, Ben Mattebayo, the next one.
- [24:22]
A
And like Damon John, there's so many
- [24:25]
B
characters coming now, it's insane. It's just we do need support. And the bigger we get, the more we grow, the more people that want to get involved because we've self funded this thing for a decade till finally a couple people got involved, thank God. But the more and more people that get involved, the more and more it spreads. And people know that what we're doing, we take such a small amount and exponentially, monumentally grow that imagine you do it 10 times what we have now, right?
- [24:54]
A
So when it comes to charity, every time there's the volunteers, whether it's 5, 10 volunteers in a random city or there's 100 plus volunteers here at Hubble Studio, you give a speech beforehand to make them realize. To make the volunteers realize that outside of them taking a picture and just kind of being around, you want them to work or you'd rather them leave. But you also say this thing that's really important about making the kids and those kids parents feel seen. Why do you explain that? What does that mean? Walk us through, kind of give us the little mini speech that you do there for those volunteers.
- [25:25]
B
Because a lot of people detach themselves that come in and I'm a volunteer and these people are attendees and I'm supposed to just do this. And it's like walking into work and like walking by someone in the hallway and not saying hello or not making eye contact. That is not the element of what we do. The element is the human element of why it makes it. It's not about the toy or the place or the Thanksgiving turkey or the backpack filled with stuff, soccer balls we give out in Puerto Rico. It's the experience with the person that they look up To a lot of these kids come in and they feel second class. They feel like God has overlooked them, their community has overlooked them, their father has left them behind. They're living with their aunt because their mother's in jail or whatever situation it is. And they feel less than when you make them feel seen. Now they're on your level, and you are a person who shows up looking clean, looking nice, looking like you got your stuff together, and they're aspiring to be like you, even though they don't know it right there or they don't say it to you. That's what they want to be like. They want to be somebody who's happy because they feel less than. So when you make them feel seen, when you make that mother feel seen, everything changes. Everything changes in their life. And, like, it becomes one of the most buoyant moments of their life. They're thrilled, and they will think about that day for the rest of their life. After our last event, I was walking on Melrose, and some woman pulled up in a car and said, six years ago, you gave my son a pair of soccer cleats. And he started playing soccer, and he never stopped. And I want to thank you. She was like, you're a guy from dreaming his kids, blah, blah, blah. And I said, yeah. And she said it to me, and I was, wow. Can't believe she remembered who I was.
- [27:03]
A
Right.
- [27:04]
B
You know, that's what you want to leave these people with, that feeling, that memorable moment.
- [27:13]
A
All right, I've never done this before, but I want to ask you a couple of pop quizzes. What do you think? Or what would you say to the men that are lazy and they're not taking care of their kids?
- [27:23]
B
That not taking care of kids, financially, just in general, you never should have had kids. You never should have been slipping with women. Go sleep with dudes. I don't know. I mean, like that. But it's the truth. Like you, everything goes out the window when you become a father. I stopped skydiving after the day we did the announcement at your house because it wasn't worth risking it. My kids need me. I don't drive fast anymore because my kids need me. There's a lot of things I don't do anymore because my job, my whole existence, is to be the best I could be for my kids. I can't imagine. You know, my father was taken away from me at a young age, in and out of jail and different things. And the thought of me intentionally not wanting to do the right thing or give them the best life to me is nuts. I had somebody recently that's a well off dude said, oh, I'm put my kid in public school because he needs to learn grit. So you're just gonna give him a below average education. I mean, you could clearly afford to spend the money. Or you're complaining about your kid's dance classes, you're complaining about your kid's education like you shouldn't have been a parent. Shouldn't have been a parent. Then that kid becomes number one. You do what you can for them because they're relying on you because they can't take care of themselves. When I was eight years old, I remember sitting outside the hospital, my mother was dying, my dad was in jail, and I said, one day I won't need to rely on nobody else. I'll be able to completely take care of myself and the whole world will fear when I'm coming. And my kids will never have to think like that because they'll know that daddy's there and they got nothing to worry about because he'll take care of everything.
- [28:58]
A
What are most brands doing wrong with their social media?
- [29:02]
B
It's not organic, it's not real, it's not who they really are. They're not creating a congruent lifestyle. That's like this is what they stick to Represent made the Run club. They kept it minimal. They kept it running. It's in line with the kid. George, I don't even know the owner, but he shoots here all the time. But his lifestyle is about health, his lifestyle is about running and high rocks. They sponsor other athletes, they sponsor high rock athletes, people like that. It's very congruent and that's why I think they do very well. It's very congruent with who they are. When you try to do too many things. You're posting about art, you're posting about Tom Ford fashion shows and you're doing this, but you're in luxury streetwear. But it's minimal. It's like it's too much. Stick to what you know.
- [29:47]
A
So there's only one question that I ask on every single episode and I've never gotten the same answer before and I'm not going to get the same answer today. Many, many, many, many years from now. Hopefully it's over 100 years from now. It's time for Vince Ritchie to finally pass away. But you've built up cannabis brands, clothing brands, Hubble studios in 10 different cities and countries and you got multiple billions of dollars. What percentage of your net worth do you leave to those three kids of yours.
- [30:15]
B
I'm gearing up to raise them the most morally sound, honest, genuine, giving back to each other that every single aspect of my life will be given to them because they will take over Trainer's kids. They will continue all the work we're doing. They're gonna do it. I know I hear a lot of people say the opposite. If they're gonna leave X amount to their kids and I wanna spoil them, my kids are gonna work for it. I mean, that's my legacy. That's all I got. I've got anything else. I got a sister, which she does well for herself. My kids are gonna take over everything I'm doing 100%.
- [30:52]
A
Alright guys, as I framed this at the very beginning, these episodes, especially special ones like this, are not just for you. Think about things that were said today that might be relevant to one of your friends. Later, one of your co workers. Later, one of your kids, parents, adults, people in your ecosystem. Later you might think of something that Vince said today and you share this podcast with them. The reason for the Money Mondays, we're number 30 in the world today is because of you guys. Sharing, commenting, liking, subscribing. All those things are mission critical for us because we're not sitting here running ads. We want people to listen to these podcasts, hear it all the way through, and think about things that can change their life. The butterfly effect of something that you heard today could literally change the course of your business. And so for me, I appreciate you guys. Go Visit us@themoneymondays.com We'll see you guys here next Monday.