Transcript
Ryan Reynolds (0:01)
Support for the show comes from Charles Schwab. At Schwab, how you invest is your choice, not theirs. That's why when it comes to managing your wealth, Schwab gives you more choices. You can invest and trade on your own. Plus get advice and more comprehensive wealth solutions to help meet your unique needs. With award winning service, low costs and transparent advice, you can manage your wealth your way at Schwab. Visit schwab.com to learn more. Hey, I'm Ryan Reynolds. At Mint Mobile we like to do the opposite of what big wireless does. They charge you a lot, we charge you a little. So naturally, when they announced they'd be raising their prices due to inflation, we decided to deflate our prices due to not hating you. That's right, we're cutting the price of mint unlimited from $30 a month to just $15 a month. Give it a try@mintmobile.com Switch $45 upfront payment equivalent to $15 per month. New customers on first three month plan only taxes and fees, Extra speed slower above 40 gigabytes. This isn't your grandpa's finance podcast. It's Vivian Tu, your rich BFF and host of the Net Worth and Chill podcast. This is money talk that's actually fun, actually relatable, and will actually make you money. I'm breaking down investments, side hustles and wealth strategies. No boring spreadsheets, just real talk that'll have you leveling up your financial game with amazing guests like Glenda Baker. There's never been any house that I've sold in the last 32 years that's not worth more today than it was the day that I sold it. This is a money podcast that you'll actually want to listen to. Follow Net Worth and Chill. Wherever you listen to podcasts, your bank account will thank you later.
Dr. Alok Kanojia (1:40)
Episode 336336 is the area code covering North Carolina. 1936. The first superhero to wear a skin tight costume and mask, the Phantom appeared in newspaper comic strips. True story. My premature ejaculation problem started when my other half dressed up as a superhero. Before I knew it, I came in a flash. Oh God, it's all going to end soon.
Ryan Reynolds (2:04)
Go, go go.
Dr. Alok Kanojia (2:16)
Welcome to the 336th episode of the ProPG Pod. What's happening? I'm back in London. After a short stint I went to. Where did I go? I went to Disney World for a speaking gig and then I went to New York. Had a good three or four nights there, saw a bunch of friends, went out probably drank a little too much. Oh, well, Daddy went deep in the paint one night. I've been trying to drink a lot less. I'm cut my alcohol consumption by 40 to 60%, and I think I'm hovering somewhere between. I think I've reduced it somewhere between 20 and 30. But I'm on a roll now. And I have been feeling better. I have been. Or less bad. I should say I feel less bad. I was about to take a run in Regents park before I did this pod. I'm starting to run a little bit. And of course, I ran out of time. There's a couple. One couple lessons I've taken away from previous podcasts. I did a podcast with Mel Robbins where I interviewed her for my podcast. So she said something that struck me, and that is I do away with the stall or the time or the gap between deciding or thinking you should do something and doing it. I used to do that. I used to be really good at this. I used to think, oh, I need to go work out. And as soon as I thought that, I tried to force myself to get up and put on my clothes and go work out. Otherwise I would start watching TV or eating and delaying. And I find a lot now I delay. And I need to get back to this notion of being a little less thoughtful. So I think around things like action have a tendency to just move to action. Oh, I want to write something that I. We'll just start writing, right? And around things that you think are a good intention when you think. I think a lot about. I want to express to someone that they're an impressive person. I know someone who has a podcast. I don't know them very well, but I saw a clip of them and I thought, that's so smart. So what I'm trying to do, I thought I should really tell them the next time I see them that that was a really interesting segment and how impressed I am by them. And instead I thought, no, just text them now move to now move to now. Mind the gap between your emotions, your positive sentiments, action and actually doing something. We also have been, or I also have been thinking a lot about strategy, and that is I've had some discussions and I want to use what's going on in the government right now. And what I would describe is a strange, if not illegal, seizure, or I think it's trespassing and a hacking of our government systems to kind of stop payments and then negotiate where we should cut funding. I think the notion around cutting funding is a really valuable conversation. There's obviously waste in government. They don't have to face put their feet to the flames of the private sector. They never effectively run out of money. Companies can borrow money, but at some point they run out of money. Whereas the government, especially the US Government, is blessed and to a certain extent cursed a little bit, mostly blessed with the ability to keep printing money. So it likely doesn't have the same discipline around managing its house in a kind of prudent fiscal manner, as evidenced by the fact that we're spending 7 trillion a year on 5 trillion in tax revenue. So I'm down with that. I think we should have an open and honest conversation around the Department of Education, like, what value does it add? Should it be reformed? It's sort of enhance it, don't eliminate it. I think it's probably the right approach, but it's a worthwhile conversation. The question is, should we be having this conversation with a gun pointed to our heads with a bunch of very talented young men who, in my opinion, are trespassing in federal buildings? So a lot of people would say you're not trespassing if you're made a legitimate employee by the full faith of the White House and then going in and without any sort of congressional oversight or approval, under the auspices of an individual who has absolutely not been vetted by the US Government to go in and make decisions around. They're not even decisions. They're like, we're cutting off payments. Now, let's start the negotiation, which literally is holding a gun to someone's head and saying, okay loud. That's how a negotiation. So the question is, how do you get leverage here and how do you punch back when Republicans control all three houses of government, you're now the opposition party, and what do you do? Because something I've struggled with my entire career is the difference between being right and being effective. And whether or not you think this is a good idea or a bad idea. And I can understand it sort of tickles the sensors of people to think government's just gotten so out of control that them going in and kind of breaking some eggs, if you will? I think that appeals to a lot of people and I can understand that. The question is one, is it the right way to go about it and are we setting a precedent where once the Democrats get in trouble of all three houses, they're going to start just randomly shutting shit off? I mean, does this just enter into a downward spiral where the standard institutional processes of democracy just kind of go down the drain for both sides and Both sides ignore each other. There used to be a certain level of mutual respect that's gone. Now. I'm of the mind that kind of needs to go to mutual destruction. How I think you want to think about negotiations is one, where you have leverage and two, where the pressure points on the other party should you ever enter into this type of hostile negotiation. And the pressure points I think are the following. One, I think this is all about money. And that is if you want to get leverage against Trump, you're going to have to get leverage against Musk right now, because he's kind of the heat shield doing all the dirty work here. Musk is about money. And I think if you want leverage against Musk, you have to go after the purse, just the way they're going after the purse of these government programs. And it's already sort of happening in Europe. It is striking what's happening to Tesla sales. Get this, the annual year on year change of Tesla vehicles in France is off 63%. In Germany, 60%. Sweden 44, Norway 38. In the UK 8. I believe the EV market is actually down 6%. But this is essentially a meltdown. But if you wanted to send a message to Musk or if they wanted to send a message to Democrats, because I think Democrats are just as obsessed with money as evidenced by the fact that our Speaker Emrita continues to engage in insider trading. Another talk show. Another talk show, I think it would be going after money. And instead of screaming into TikTok or showing up at federal buildings and waving your cane at people and saying, we're members of Congress, he's like, well, what could you do? I would suggest that you go after the purse, and that is try and figure out a way to communicate to people that they shouldn't sign up for T Mobile because they're doing a deal with Starlink or they shouldn't be flying United Airlines or they shouldn't be buying, obviously buying Teslas, or if they order an Uber and a Model Y comes up from Tesla that they cancel and say, I don't ride in Teslas, I think that is probably at this point the only way to get their attention. Now, if you were to really go gangster here, pull or do what the Republicans did, and that is threaten to shut down the government, essentially, when they were the opposition party, the Republicans said, all right, we're going to burn the village to save it. We're not going to raise the debt limit, we're going to let the US government default on its debts, which would create essentially the Ripple effect would be the treasury auction would fail, interest rates would dramatically spike. You'd probably see a drawdown of anywhere between 1030 and 50% in the stock market. You would have kind of an economic, at least a pretty serious shock here. And I think, unfortunately, what we have is when you are engaged in a battle with an opposition party and the opposition party shows a willingness to just go much further than you, and you will back down, you create asymmetric advantage. The example I would use is if you have an army that's willing to put its own civilians in harm's way, and the opposing army is not willing to do that, what you're doing, which I think is the ethical thing to not, in fact bomb a place with civilians, but what you create is incentive for other armies to begin putting people in harm's way and using them as human shields. And I think right now, one party has essentially shown its willingness to shut down the government, and the other has said, let's not do that. And I think the only way you're going to restore any sense of mutually assured destruction and get any leverage at this point is, would be to say, okay, we're willing to do this, too. So where does this go in the Trump administration? I think that you have effectively one adult in the room. I would argue around restoring kind of institutional norms, if you will, and that is the bond market and the stock market. And I think the Democrats at this point have to say, all right, our only pressure point, our only leverage here is probably to force the President, on his watch, to default on the government's debt and to give up or basically see a failed treasury auction. And this is going to happen on his watch. The Republicans threatened to do that in the last minute. They blinked. And it did not happen on Biden's watch. But my sense is the Republicans have been so aggressive and shown such a lack of respect for any kind of consolation consideration process, institutions, whatever you want to call it. I think the Democrats need to also show that they're willing to shut down government. So when you're negotiating, there's really only two things you need to remember. Generally speaking, in your negotiations, you don't want to make it emotional. You just want it to be, this is what we're willing to do, this is what we're not willing to do. And two, you have to show a willingness to walk away. And in this instance, it's a willingness, quite frankly, to go kind of nuclear and leverage a nuclear option and shut the government down and have us fail on our debt. And have a failed treasury auction. And again, I want you to stop. And when you think about things, it might feel good. I oftentimes point it out in meetings, okay, this is wrong, and felt really good about myself. But I thought, am all am I doing? Just antagonizing the other side. And don't threaten to quit unless you're actually going to quit. Otherwise your threats become a little bit hollow. Already the president is developing a reputation for not living up to his threats. I'm going to, in, you know, I'm going to impose these 25% tariffs on Mexico and Canada. They turn around and commit to doing what they're already doing. I mean, even look at the language from Canada. We will implement the things we have committed to and he backs away. So don't make threats, make promises and make them very sparingly, especially in a relationship with someone you care about. I remember, I just think you want to be very careful when you're talking to people you care about, especially romantic partners and especially your spouse around threats. I just think it, one, reduces your negotiating leverage if they're threats, not promises, and two, it damages the relationship. In negotiations, you also have to remember, and we seem to be well beyond that in this instance. In negotiations, you want to remember that at some point you're probably going to have to work with the other party. You're going to have to do deals with them, get along with them, share the same household with them, raise kids with them. And it's worth, in my opinion, and this does not apply to this because it feels like the train has left the station on any level of mutual respect between our two parties. But when you're negotiating with people, you want to remember, I think it's okay to leave a little bit on the table. Also recognize that in that specific negotiation, you're not only negotiating around the terms in that moment, but you're also creating a context for the relationship moving forward. So showing up and threatening nations with tariffs, when you are the much more powerful economic entity that is probably going to work in the short run, you may get something. In this instance, President Trump, as far as I can tell, got nothing, extracted nothing from Mexico and Canada. But we are the bigger economy. We could literally tank their economy. So if we want, we could extract our pound of flesh. The question is, what happens after that with the relationship and the benefits we accrue from what is a very strong relationship? When these countries show up to help fight our fires, they follow us into wars in the Gulf. These, these relationships long term, are an Enormous asset. So what are you getting short term in exchange for something or in exchange for giving up something perhaps more valuable, and that is a strong relationship. Success is the following. Success, I would argue, is really just comes down to two things. First, a series of small examples of discipline every day that add up to something huge. Take advantage of the flaw in the species and try and save 5 or 10 or 20 bucks a day. That is 150, 300, 600 bucks a month. When you're young, time will go a lot faster than you think, and that will add up to a great deal of money. And by the time you're 30 or 35, you'll have the down payment on a house. And by the time you're my age, you're not going to be worried about money. You're going to feel some sense of security and be able to spend more time with your kids and hopefully your grandkids. Don't think about working out every day. Try and do something, and you're going to wake up one day, three months, six months, nine months, and think, wow, I feel better, I feel more confident, I'm less depressed. I like the way I look naked. I feel more confident, I feel less angry, I feel more masculine, I feel more feminine, whatever it might be. A series of small efforts made every day that is an expression of discipline. And the second thing, the second key to success is putting yourself in a room of opportunities when you're not in the room, when you're not physically in the room. And how do you do that? You create allies along the way. You don't look at relationships as a transaction. You help people when they're less powerful than you. Any opportunity to help someone, any opportunity to make them feel good about themselves is an opportunity for you at some point in the future to be put in a room of opportunity, even if you're not physically in the room. Hey, we're looking for a new head of media planning. And the person thinks, I know this really wonderful woman or this really wonderful man, we should interview him or her. You know what? Matt is a really good guy and really good at what he does. I'm going to personally vouch for him and I hope he is hired. Having an evangelist internally. And how do you create evangelists? A series of small investments every day in relationships. A small expression of discipline every day around money, around fitness, around kindness, such that you put yourself in a room of opportunities even when you're not physically there. Okay, anyways, in today's episode, we speak with Dr. Alok Kanojia better known as Dr. K, a psychiatrist and co founder of the mental health coaching company Healthy Gamer. We discussed with Dr. K how tech addiction affects mental health, the science of relationships, and the challenges men face today. So with that, we'll be right back for our conversation with Dr. K. Support for the show comes from Vanta Trust isn't just earned, it's demanded. Whether you're a startup founder navigating your first audit or a seasoned security professional scaling your GRC program Program proving your commitment to security has never been more critical or more complex. That's where Vanta comes in. Businesses use Vanta to establish trust by automating compliance needs across over 35 frameworks, including SoC2 and ISO 27001, centralized security workflows, complete questionnaires up to five times faster, and proactively manage vendor risk. Vanta not only saves you time, it can also save you Money. 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