Elon & Vivek H1-B Visa Debate, Trudeau's Ministers Meet Trump, Late Night Ratings Drop | PBD Podcast | Ep. 526

Patrick Bet-David, Tom Ellsworth, Vincent Oshana, and Adam Sosnick discuss the debate over H1-B visas started by Vivek Ramaswamy & Elon Musk, Justin Trudeau's top ministers meeting with Trump over the Canada - U. S. union, Jimmy Kimmel and Stephen Colbert's ratings plummet because of their Trump bashing, and PBD's New Years message for 2025!💳 VT NEW YEARS SALE: https://bit.ly/4iVitKH🧥THE NEW VT SWEATSHIRTS & HOODIES: https://bit.ly/4f5fnAM🧢 PURCHASE THE NEW VT HATS: https://bit.ly/3ZFAPrH📕 PBD'S BOOK "THE ACADEMY": https://bit.ly/41rtEV4📰 VTNEWS. AI: ⁠⁠⁠https://bit.ly/3OExClZ🎙️ FOLLOW THE PODCAST ON SPOTIFY: ⁠⁠https://bit.ly/4g57zR2🎙️ FOLLOW THE PODCAST ON ITUNES: ⁠⁠https://bit.ly/4g1bXAh🎙️ FOLLOW THE PODCAST ON ALL PLATFORMS: https://bit.ly/4eXQl6A📱 CONNECT ON MINNECT: ⁠⁠https://bit.ly/4ikyEkC👔 BET-DAVID CONSULTING: ⁠⁠https://bit.ly/3ZjWhB7🎓 VALUETAINMENT UNIVERSITY: ⁠⁠https://bit.ly/3BfA5Qw📺 JOIN THE CHANNEL: ⁠⁠⁠https://bit.ly/4g5C6Or💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time! SUBSCRIBE TO:‪@VALUETAINMENT‬ https://www.youtube.com/@VALUETAINMENT ‪@ValuetainmentComedy‬ https://www.youtube.com/@ValuetainmentComedy ‪@theunusualsuspectspodcast‬ https://www.youtube.com/@theunusualsuspectspodcast ‪@bizdocpodcast‬ https://www.youtube.com/@bizdocpodcast ABOUT US:Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.

Speaker names marked ? are inferred from speaking time and the show’s known hosts — they are not voice-verified.

• 0:00Speaker 00

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• 1:11Speaker 02

  My handshake is better than anything I ever signed, right here. You are a one of one. My son's right about you. I don't think I've ever said this before.

• 1:22Patrick Bet-David?

  So is that the new intro? That's the new intro. I love it. I love it. I love it. By the way, okay, so what episode are we on, Rob? Let's see here. 526 Gang, it's great to have you. Not a lot has happened last week, just so you know. Nothing. I mean, it's not like there was a massive H1B visa debate. It's not like there was a, you know, some call it a civil war within the conservative, independent libertarian community. We'll talk about that. We'll talk about the passing of one of our presidents, Jimmy Carter, who made it to 100. I have some thoughts on that, but some things Biden said about him, some things Trump said about him. We'll talk about that. And then we have more things with Canada. Doesn't seem like it's going away.

• 2:06Patrick Bet-David?

  Some of Trudeau's top ministers, without him... Showed up to Mar-a-Lago to have a visit with Trump. What are they talking about? And then Kevin O'Leary turns around and says, half of Canadians favor Trump's proposal for Canada to join the US. Very interesting. Biden said he is disappointed and regrets ending his election because he thinks the campaign, if he would have stayed in, he thinks he would have beaten Trump. I mean, you know, that's gotta be a very interesting thing for a guy like him to say. And then aside from that, young and the restless, 37% of Gen Z skipping the gym, going straight to Ozempic, studies find. Germany's president dissolves parliament, sets national election for February 23rd.

• 2:51Patrick Bet-David?

  Germany opened its door to migrants, now it's struggling to cope. Credit cards, this is a story we're not hearing about a lot lately, but Tom's got some commentary on this. US credit card defaults jumped to highest level since 2010. Uh oh. Credit card charge offs and delinquencies hit 13 year high. Are they peaking?

• 3:11Patrick Bet-David?

  This next data, this is not another data you want to brag about. Ended the year in December, while the new guy doesn't take over till January 20th, US homelessness is up 18%. And officials are blaming the migrant crisis, devastating natural disasters and a lack of affordable housing for the reason behind it. Late night comedy spent 2024 bashing Trump as viewership continues to crash. I won't give you the data, I'll read it to you here in a minute, but I want you to guess. All the late night folks, when they talked about politics and their opinions on it, what percentage of it you think was Trump bashing? I want you to take a wild guess. Post your comment below, we'll get to it here in a minute.

• 3:56Patrick Bet-David?

  LeBron James says they're officially the show in town on Christmas Day, but the numbers doesn't favor his argument. And I think he's getting community noted, hence the joke, if you get it. All right. The human brain processes thoughts five million times slower than the internet. And the reason video games may not be so bad for you after all, there's apparently a study out here. And we got this things with this guy in Fauci that's claiming. Um, he's back and he has a warning for you Americans. Folks, watch this. He's got a warning for you about the H5N1 bird flu that currently causes eye infections. He's really trying to scare the crap out of you.

• 4:38Patrick Bet-David?

  And Vinny, I know you, you're very friendly with him and I don't want to say some things about him. Yeah, I love that guy. So we'll get into it. All right, gang, this is the last chance here for the end of your sale with BTmerch.com. If you haven't yet ordered, we have so many different things with 50% off. The flip flops right now are 22 bucks. The blue future looks bright. There's so many, obviously the sizes is the challenge, but if it's got your size, this is your chance to get a bunch of discounts for yourself. And for the first 50 orders, you will get these new Future Looks Bright Gold and Black keychain that came with Vitamix logo on it and on the back it says Future Looks Bright. First 50 orders, you're going to get these keychains. So go ahead and place your order. Okay, Rob, I say the first thing we talk about is H1B1 Visa, okay? Let's start off with that.

• 5:22Patrick Bet-David?

  Uh, what clip do you have, Rob, about the H1B1 visas for us to start off? Let me just read one of them here to you. What to know about the H1B1 Visa fueling the divide in a MAGA world? Let me kind of read this story and then we'll get into a few clips. The H1B Visa Program, which allows highly skilled workers in specialty occupations to live and work temporarily in the U.S. is at the high, is at the center of a divide in MAGA world. Proponents like Musk, himself a former H1B holder, argue it helps the U.S. retain a competitive edge in the STEM fields, while hardliners such as activists like Laura Loomer insist the U.S. should prioritize

• 6:04Patrick Bet-David?

  American workers. H1B visas capped at 85,000 new approvals annually, require employer sponsorship and are granted for up to six years in 22, 2023. 72% of recipients were from India.

• 6:18Patrick Bet-David?

  Followed by China 12% and the Philippines 1%. The program does not provide a path to permanent residency as it grants only non-immigrant status. Tom, your thoughts on what's going on here with the H1B visa debate?

• 6:32Tom Ellsworth?

  So, there's a lot of angles here, a lot of angles to go. And so, the first angle that I'm going to go with is, you know, I like to say, if you want to look at a problem, you got to go upstream a little bit, right? I talk about the polluted lake. Liberals want to build a $1 billion filter. Conservatives want to go upstream and say, hey, what are the creeks and rivers putting in the lake? And then stop it upstream and it's an easier way of the problem. The first thing that I think, nobody was talking about over the weekend, and I think we should talk about it for a minute, is you got to go upstream. What is happening? Why aren't there, now, some people say there's plenty, and I saw that argument, some people say there wasn't enough of American engineering graduates. Now, why wouldn't there be enough American engineering graduates?

• 7:16Tom Ellsworth?

  Well, why can't they get out and get into top schools? Huh, interesting. Well, why can't they get into top schools? Well, let's look back to the Department of Justice, DOJ, that's our government, folks, that was under Biden, folks, went after Yale University after a massive lawsuit was filed by a group of Asian families who said, "We've been discriminated against for admissions in favor of other people of many colors." And they were upset. And the Department of Justice looked at it and said, "Wait a minute." And the Asian suit had tons of facts and figures and some discovery, discovery things that they had found. So, their Department of Justice looks into it and goes, "Huh," and went after Yale.

• 7:56Tom Ellsworth?

  So, the US Department of Justice filed a suit against Yale admissions, and all the discovery showed, absolutely not opinion here, they were discriminating against whites and Asians that were American citizens in favor of people of many colors, particularly foreigners that maybe didn't have the same scores, some of these whites and Asians in the United States, because the foreign people most often were paying full boat. What's full boat? Paying full price. What's full price? They weren't getting financial aid. Because they were wealthy people from around the world. So guess what? If you don't give them financial aid, what gets bigger? Your endowment? Because you don't have to give financial aid or small scholarships based on merit. So you see how that ecosystem works?

• 8:39Tom Ellsworth?

  So the, the schools discriminating against, so now what that, what does that mean? Well, now there's a shortage of US citizen and not just white. White and Asian engineers, because it wasn't just happening in Yale. It's happened in other places. So the supply is down because schools have been discriminating against US citizen. So now the supply is down. That is a fact, absolute fact, including and discovery brought by US Department of Justice. Now then you go into part two. Okay, well, that doesn't mean that H1Bs are innocent. They're not. I looked at it up and H1Bs, they do underpay often. They do lock up a person with their sponsor. So it's very hard to change jobs.

• 9:21Tom Ellsworth?

  Let's say you get an H1B, Vinny, and you do a really good job for two years and, and you're, you're having lunch at a place and a recruiter talks to you and says, "Hey, wouldn't you come work over here?" And you say, "Well, I really can't. I got the H1B and it's really complicated to change jobs with the sponsor. I'm kind of locked in. It's hard to change jobs and I don't want to make any fuss because I don't want my sponsor to decide maybe they don't need me. Except if they lay me off, RIF, rejection and forth, I only have days. Otherwise I have to leave the country because I no longer have a visa. So it does get abused. And there's this whole lottery with it that some people say wink, wink is subject to lobbying. And who would be paying big lobbying into the liberal government? Oh, big tech.

• 10:02Tom Ellsworth?

  So could one of the things they want be, you know, have the lottery point more toward me? So the H1Bs do get used, you know, in a way that's kind of abusive. That's my second point. And then my third point is, is that it is truly bad if the companies are using them with ill intent and they're not taking available American workers. But I think the schools are guilty. I think some companies are guilty for abuse of the program. I think the schools are guilty for not giving us more Americans with engineering degrees. And I think a lot of people are. Third point, are missing the point that there has been a tremendous amount of people who were immigrants to this country that have built amazing new businesses.

• 10:47Tom Ellsworth?

  And so you can't just say, "Oh, it's a bunch of cheap labor getting jobs." No, that's not true. People like Elon Musk have built things. So I think there's a lot of reform that's needed, but those are my three points.

• 10:58Patrick Bet-David?

  We'll be on this topic for a while. Rob, can you pull up Vivek's tweet real quick? Vivek's tweet that I retweeted and I got community notes. I want to show the whole thing for the audience to see what happened the last couple of days. But first, go to his tweet. So Vivek posts this tweet. If you go under my account, you'll see. Keep going down, keep going down, keep going down, keep going down, keep going down. Right there. Go to, go to his tweet first and then you'll come back to mine. Let me read this to you. "This upset a lot of people, but let's process it. The reason top tech companies often hire foreign-born and first-generation engineers over native Americans isn't because of an innate American IQ deficit. A lazy and wrong explanation. A key part of it comes down to the C-word: culture. Tough questions demand tough answers, and we're really serious about fixing a problem. We have to confront the truth.

• 11:42Patrick Bet-David?

  American culture has venerated mediocrity over excellence for way too long, at least since the 90s and likely longer. That doesn't start in college, it starts young. A culture that celebrates the prom queen over the math Olympia champ or the jock over the valedictorian will not produce the best engineers." That upset a lot of people, but he's not wrong, is the question. Is he wrong with that statement?

• 12:06Tom Ellsworth?

  He's not wrong.

• 12:07Patrick Bet-David?

  Okay, let's continue. "A culture that venerates Cory from Boy Meets World or Zack and Slater over Screech and Saved by the Bell or Stefan over Steve Urkel in Family Matters will not produce the best engineers." Fact: I know multiple sets of immigrant parents in their 90s who actively limited how much their kids could watch those TV shows precisely because they promoted mediocrity. And their kids went on to become wildly successful STEM graduates. More movies like Whiplash. He continues to go and then most normal Americans parents look skeptically at those kinds of parents. More normal American kids view such, those kinds of kids with scorn. If you grew up aspiring to normalcy, normalcy is what you will achieve. Now, close your

• 12:49Patrick Bet-David?

  eyes and visualize which families you knew in the 90s who raised their kids according to one model versus the other. Be brutally honest. Normalcy doesn't cut in the hyper competitive market. He continues to go, Rob, if you can go right there. A culture that once again prioritizes achievement over normalcy, excellence, over mediocrity, nerdiness over conformity, hard work over laziness, that's the work culture we have cut out for us rather than wallowing in a victimhood and just wishing or legislating alternative hiring practices into existence. Look at the amount of views this tweet gets. Wow. Hundred and fifteen million views a tweet. Now, go to my response which upset a lot of people. If you can go back. So, I said the following. I said, as an immigrant from Iran, I saw this as an edge. I didn't mind working 80 hours a week. I didn't mind the

• 13:32Patrick Bet-David?

  competition. All I wanted was a shot. This used to be the American way. Time to return to it. Take a minute to read it. By the way, when I say working 80 hours a week, you know, I worked 80 hours a week. When, in my twenties and thirties, I worked 80 hours a week and I had no problem doing it. I'm on the road six months out of the year. When you're on the road six months out of the year, building a national insurance agency, it's very tough. And by the way, you're building an insurance company, regulated in 50 states, high volume recruiting. We go from, you know, 66 agents to 60,000 insurance agents, dealing with every department of insurance that's led and typically ran by somebody who was a liberal. Think about, they don't like people like us, is what we have to deal with. But then

• 14:14Patrick Bet-David?

  this prompted people to get upset and say a bunch of different things. If you go back up, Rob, up top, I said something about, on another tweet, I said something about, what's your big example? No, go back above that, right there. The one right above it. Keep going, keep going, keep going. Keep going, Rob. Keep going a little bit higher. I think this is the one. This lady says kindly, go a little lower. Working 80 hours a week. Is not a healthy role model, no problem. Quite frankly, you choose your role models for you and your kids, which is your job as a parent. Whoever you edify it is what it is. And I said respectfully, both the app and the four you're using were built by founder and executive team that worked 80 hours a week for many years. Also, our founding fathers worked very hard. And I put 80 hours a week and a community note says, we don't know if they worked 80 hours a week or not.

• 14:59Patrick Bet-David?

  You just have to realize they worked a lot more than 80 hours a week. These guys are trying to survive is what they're trying to do. By the way, so then while we're doing this, me and the research team go a little bit deeper into this. And these are some of the numbers that comes up. Okay, when you think about what America goes through. If I was to ask you right now, I asked you guys these question yesterday, so I don't want to ask you guys, but I asked the audience, what percentage of startup billion dollar company founders? Do you think were immigrants? Let me ask you one more time. What percentage of billion dollar startups? Do you think the founder was an immigrant? Okay, I'll let you think about it for a second. 5%, 10%?

• 15:43Patrick Bet-David?

  So these are guys that start a company and it becomes a billion dollar company. Do you know the number to this? Were you in the room when we talked about it? I was not. Okay, the number isn't 10%, not 20%, not 30%. Rob, if you want to pull this up, 55% of America's billion dollar startups have an immigrant founder. Why? Now here's what some people will say. They'll say the H1B visa takes job away from Americans. But anybody can start a company. Founding a company doesn't have to be an immigrant to do it. Somebody that's born in America can do it. So why are so many startup founders immigrants?

• 16:22Patrick Bet-David?

  Then we're going to look at to see what percentage of Fortune 500 companies are ran by immigrants or their child. So meaning you came here in 60s, you started a company in 70s. Your son ends up building a company that becomes a Fortune 500 company. You know what that percentage was? Forty-five percent of Fortune 500 companies are ran by, you know, an immigrant or their children. So you look at this data. Then we continued going, I'm like, listen, there's gotta be, something's gotta be the issue here because the real problem, Tom, is when, when the employer hires an H1B person, which by the way, we've hired a handful in the last 25 years. And it's legal, nobody's doing anything illegal.

• 17:07Patrick Bet-David?

  If you have the ability to hire one, you do. But there are people that hire somebody and you pay them $75,000 a year hypothetically versus paying 150. Or you hire them and you're paying 120 versus paying 180. And you save that $60,000, which the job is going to what? Somebody that's coming in as a, you know, H1B visa. That criticism is true. And then we went a little bit deeper, Tom, and we saw the lawsuit with Infosys. Infosys paid $34 million in H1B lawsuit. I think Apple paid 21, $25 million. Facebook is going through it. And do you know who sued the Trump administration in 2017 on H1B visas? Amazon. Do you know what company hires the most H1B visas?

• 17:52Patrick Bet-David?

  Do you know who's ahead and by a mile? It's Amazon. It's not even close. Do you know where Tesla was ranked? On hiring the most H1B visa folks? Where was it ranked? 21st or 22nd place. Okay. So you're not talking about a top 10. Uh, uh, Brandon Kelly, if you guys can send that ranking to Rob for him to have it. You, you gotta see this because it's interesting as you go deeper and everybody is criticizing everybody. And you go through deeper, you're like, you know, it's not. But Amazon, majority of the people they are hiring of the H1B visas, which we have around a half a million, give or take. Number one was not only Amazon. Most of the, Amazon had like three or four companies

• 18:34Patrick Bet-David?

  that were in the top 20 companies that hired the most people. This isn't the one. There's another chart that she has, she'll send it to you here in a minute. So I, I understand the arguments going against it. I understand the expansion of it. I understand the concerns. There's these consulting firms that they hire H1B visas. And let's just say they're gonna get you a job for paying, making 120 grand a year. They keep a quarter of it. Do you understand what I'm saying? They're like, they, they play the role of an agent.

• 19:01Tom Ellsworth?

  Like an agent, yeah.

• 19:02Patrick Bet-David?

  That's, that's.

• 19:03Tom Ellsworth?

  Not, not the hiring company. These are intermediary companies that sit with one foot in Asia or one foot in the US and they're helping the H1Bs of people get along and they're ripping them off for a 25% tax.

• 19:15Patrick Bet-David?

  That's insane, by the way, to do that.

• 19:17Tom Ellsworth?

  That's not right.

• 19:18Patrick Bet-David?

  They're not ripping away the employer.

• 19:21Tom Ellsworth?

  They're getting a percentage.

• 19:23Patrick Bet-David?

  The employee.

• 19:24Tom Ellsworth?

  Yeah, correct.

• 19:24Patrick Bet-David?

  So it's not the, like typically if, if I choose to hire your agency, the O'Shaughnessy recruiting firm.

• 19:29Tom Ellsworth?

  Yep.

• 19:30Patrick Bet-David?

  And you find me a C-suite executive, I would pay 25% on the salary of your one.

• 19:35Tom Ellsworth?

  Yeah.

• 19:35Patrick Bet-David?

  Let's say the person's $300,000, you find that person for me, I hire him, I give you $75,000.

• 19:42Tom Ellsworth?

  Wow.

• 19:42Patrick Bet-David?

  But what they're doing is, if they find you a job for $200,000, they're keeping the $50,000 every year on the salary.

• 19:49Tom Ellsworth?

  Wow.

• 19:50Patrick Bet-David?

  Which that kind of, right there, by the way, if you look at the H1B visas, Amazon's first place, then it's Cognizant, then Ernst & Young, then you see Microsoft fifth, then it's Google, then Meta, then Infosys, HCL, Walmart, Apple, Amazon, again, Intel, IBM, JP Morgan, Accenture, you've got a few other companies, and look at Tesla, 22nd place, then again, Amazon. So Amazon's on there multiple times where their company's on the list of most H1B visas. Tom, you were gonna say something.

• 20:17Tom Ellsworth?

  Yeah, I was just gonna say, this doesn't reflect well on my, me admitting my temper here. But I once had a call from a guy that represented himself to be a IT recruiter. And he said he was based in the US and he had a US phone number and IT recruiter. He had gotten through to me with some very creative email and stuff. This goes back about 10 years. And this is in the early time where we were looking for, remember the first product people or the first technologists at PHP? We were putting together the original three systems.

• 20:45Patrick Bet-David?

  Mm-hmm.

• 20:46Tom Ellsworth?

  So this is literally 10 years ago and we were gonna build the first app. Over the course of two phone calls, I suddenly realized he was an intermediary. And all the people he said he was representing, I did an interview with one. And the guy in the interview on the phone call, this is back in Skype, it was like a Skype interview. He tells me, well, I can only come through this guy because, you know, this is it. And I said, wait a minute, I thought he was a US recruiter. No, no, no, no, no, he's representing me, he's, he's here in India. And so I called the guy back and I said, are you a US-based recruiter? Are you based in India? And you've got these people under contracts already? He said, well, I got them under contracts. I lost my temper with him because he had lied to me. I called him a pimp. I said, he was, I remember I used that word.

• 21:30Tom Ellsworth?

  I said, you are a worthless pimp, I remember it. I was so upset with him. Because I had just interviewed a couple of people that were well-meaning people that just wanted to get a job in IT in United States. On, on, on product. And I lost it. So I'm confessing here, I lost it. But it was one of those people, this is real and they take advantage of those.

• 21:50Patrick Bet-David?

  They do that. And, and the deeper we get in, this is a problem. This chart here that Brandon found shows the most popular college majors. And they've changed from 2016 to 2023. Like, kids are going to college, parents are telling their kids, go get this degree. Number one is business. Two is nursing. Three is education. Four is biology. You know what five is that's climbed up to three? Psychology is the number three major now. You know, engineering used to be sixth place in 2016? You know where it's at now? It's at ninth place. Why would you tell your kids to not become engineers? Right there, look at that.

• 22:32Patrick Bet-David?

  The chart, it's dropped, zoom in a little bit, Rob, so we can see the, the majors on the left. You see how psychology, the purple from fifth place goes to third place? Keep going lower, engineering drops, uh, uh, close the chart on the left, Rob, if you can, the X. Yeah. If you go and look at the left, you'll see engineering was sixth. See the dark purple? Drop down to ninth place. Criminal justice stays around the same place. Computer science stays around the same place. Accounting, computing stays around the same place. Now, if you go and look at STEM, countries against US. Rob, if you can pull up this other chart. How we rank against other countries in STEM? Keep going up, up, up, the other way, the other way, Rob, the other way, yeah.

• 23:14Patrick Bet-David?

  Keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going, keep going. Right there, zoom into the top one, to the top one, look at that. Top countries of STEM, numbers by graduates. China, 3.57 million. India, 2.55. We're third place, 820. Now go to the one above it, that shows percentage wise, above it, Rob, above it, yeah. Look at this here. Percentage of graduates that are STEM. China, 41%. Of their graduates are in STEM. Russia's 37, Germany's 36, Iran's 33. India's 30% because of their IIT, France 26, Mexico 26, look at us. And we want to compete? I mean, this is, and by the way, a part of this, to me, is,

• 24:00Patrick Bet-David?

  like, when you think about when Dallas Mavericks bring Dirk Nowitzki, or Luka, or Giannis, or all these players that are coming from the European system here. And Kobe would always bash the AAU system in the States. And he came from the Italian, you know, he played, you know, he learned how to play basketball, the fundamentals in Europe. Why do they translate from that leak, its results? So my only concern with this argument is, yes, keep the jobs in America. Yes, yes, give the jobs to American graduates. Yes, make it competitive here. And if some of these guys are coming here that are the smartest people, why not keep them? Why not recognize them? Why not respect the fact that they create jobs? Some of the, one of the tweets, I said, "Our founding fathers," a guy responds back and says,

• 24:45Patrick Bet-David?

  "Those are not your founding fathers." Guy posts a picture of the, the Shah of Iran, says, "That's your founding father." But that tells you what, you know, a part of this, there's nationalists, and there's white nationalists. White nationalists, Vinny, don't want people like us, here. They just don't. White nationalists are a very different model. And they can have that argument, but this got very ugly, very quick.

• 25:06Adam Sosnick?

  Yeah, no, you're spot on with the, um, the white nationalist thing. So, what I'm concerned about is you, you made an amazing tweet because your prediction has basically come true, what they're doing to basically divide and conquer Trump versus Elon, that's what I'm focused on. Can you turn me up a little bit, guys? But it's sort of, what, you've seen the comments that are being made by Steve Bannon and Stephen Miller? They're sort of it's

• 25:29Patrick Bet-David?

  What do you think about it?

• 25:30Adam Sosnick?

  So here's what I'm thinking.

• 25:31Patrick Bet-David?

  Can I, can I read the tweet so the audience don't think that I'll go to you? So here's what Steve Bannon said. Steve Bannon said, um, let me be clear on H1B. I want zero. The whole thing is about, oh, they're only geniuses, H1B visas. That's not what it's about. It's about making American jobs and bringing over essentially what have become uh, indentured servants at lower wages, the things a scam by the oligarchs in Silicon Valley to basically take jobs from American citizens, give them to what become indentured servants from foreign countries and pay them less. Simple. That's what he said.

• 26:04Adam Sosnick?

  And he does have a point right there. There is a point to basically what's happening with these guys with these H1B visas. You said, you know, you can pay them less versus an American.

• 26:13Patrick Bet-David?

  Oh, yeah, the news definitely happened.

• 26:14Adam Sosnick?

  By the way, I know people who basically outsource jobs and say, well, I can pay an American worker here uh, 30 bucks an hour. I can pay some guy in the Philippines or in India, four bucks an hour. So it works both ways. But what's happening with, with MAGA, MAGA versus Musk, it's, it's sort of like MAGA 1.0 versus MAGA 2.0. Who's MAGA 1.0? The guys that have been there 10 years versus the people that have been there basically 10 months. So you have the nationalists that you talked about right there. So you have the working class people, the America first, that want to put America first. They're sort of the populists. They're the protectionist, you might almost say isolationist. MAGA 2.0, the people that have basically been there for 10 months versus 10 years. These are honestly former liberals, some of them. They're tech people. A lot of them are billionaires.

• 26:59Adam Sosnick?

  They're the elites. They're a different form of MAGA. So the interesting thing here is when you do politics, you want to have a big tent party. Hey, we need your votes. We need your votes. We need your votes. Okay, we got your votes. And now you're like, yeah, get the hell out of here. Hold on, I'm sorry. You don't want Elon Musk? You don't want Vivek? Elon Musk gave how much money to Trump? $200 billion? All of a sudden, he's the bad guy? So this conversation that's being had needs to happen, no doubt. By the way, Trump hasn't even assumed office yet. It's crazy. Because, you know, they say that you, the way that you campaign is different than how you govern. When you campaign, you made broad, just sort of, uh, out there, outlandish commentary. But when you govern, you actually have to do some nuanced debates.

• 27:42Adam Sosnick?

  But as we always say, FTM, follow the money. Speaking of, you read a stat out there. What percentage of the H1B visas are Indians?

• 27:51Patrick Bet-David?

  Seventy-five percent.

• 27:52Adam Sosnick?

  Okay, so it's basically Indians.

• 27:54Patrick Bet-David?

  Yeah.

• 27:54Adam Sosnick?

  That's what we're talking about. So, follow the money, GDP per capita. What's the GDP per capita in India? In India, they're number 120 in the world. The average Indian makes 8,400 bucks a year. Okay, that's from 2023. So, my stat says even, that's what it says, 2,400? I see 8,400. I don't fact check that. America, $76,000 a year, GDP per capita. Either way, if you're working in America, you're making so much more than you're gonna make in India. And by the way, what do you think the people do when they make this money?

• 28:29Patrick Bet-David?

  What you just said. So, what's your point there?

• 28:30Adam Sosnick?

  So, even if you're suppressing their wages, which is not fun. Okay, there it is, right there, 7,000. Even if it's suppressing their wages, they're making 10x what they'd be making in India. So, they have a choice to make. They don't have to come here, right? But, there's also another thing.

• 28:44Patrick Bet-David?

  Are you saying that because you're saying, you know, the opportunity to live in India is not as good as here? And that's why they're...

• 28:51Adam Sosnick?

  It's not even close.

• 28:52Patrick Bet-David?

  No, no, meaning, so Indians are going to school there, but they're wanting to come to America here. The dream for them is to come here.

• 28:59Adam Sosnick?

  Who doesn't wanna come to America?

• 29:01Patrick Bet-David?

  Yeah.

• 29:01Adam Sosnick?

  Who doesn't wanna come to America? I love the analogy that you used, the restaurant analogy. How do you judge a good restaurant? How do you ju... How long is the wait? The wait to get in America, with the exception of the past couple of years with Joe Biden, open border, Kamala Harris czar policies, has been what? What did you just say? It's the... We're the number one country for immigration, year in and year out? It's not even close. It's not even close. So, where the hell else do you wanna go? You wanna move to China? I don't see anybody trying to get into China. I don't see anybody dying to get into Russia or North Korea or Iran. So, America is the place, the land of opportunity. So, this conversation, I think, does need to happen. Because, do we not want immigrants here? Do we not want the best and brightest? Where do we want them going? Want them going to our enemies? We want them here, but at the same time,

• 29:46Adam Sosnick?

  I do agree with Vivek, Americans gotta compete. I love the thing that you broke down about a year ago, about why Indians are so successful. If you look at the most successful minorities, it's number one and number two. And it's bing, bing, bing, bing, bing. Indians and Jews, straight up. So why is that? What's going on in their culture? You did a whole breakdown about the family and divorce rates and what Indians do and how they're encouraging their-

• 30:13Patrick Bet-David?

  Do you know what their divorce rate is?

• 30:15Adam Sosnick?

  It's like 1%, some ridiculous. It's low? It's ridiculous.

• 30:18Patrick Bet-David?

  It's that their divorce rate is on some data shows 1, on some data it shows 6%. African Americans were the highest in US at 31%. Uh, Mexicans, Hispanics were at 18.5%. Whites were at 15.1%.

• 30:33Adam Sosnick?

  Yeah.

• 30:33Patrick Bet-David?

  But Indians are at 1 to 6% divorce rate. That's- Is what they have. Yeah, it's some ridiculous number that they have.

• 30:39Adam Sosnick?

  You know how they say, "Don't hate the player, hate the game"? The Indians are playing the game! They're doing it!

• 30:44Patrick Bet-David?

  Yeah, but what I'm trying to understand is the following. Here's what I'm trying to understand, Tom. And I want to bring this to you. I want to understand everybody's points. Like, for example, I want to understand Elon. Well, he said, you know, uh-

• 30:57Adam Sosnick?

  He came here on an H1B visa, did he not?

• 30:59Patrick Bet-David?

  Well, that's what I'm saying. Where he says, "The reason I'm in America along with so many other critical people that built SpaceX and Tesla, and hundreds of other companies, that America's strong because of H1B, take a big step back and go F yourself." That's from the movie, uh, uh, what is it?

• 31:14Adam Sosnick?

  Tropic Thunder. Tropic Thunder.

• 31:15Patrick Bet-David?

  "I will go to war on this issue, the likes of which you cannot possibly comprehend." Okay.

• 31:18Adam Sosnick?

  That was a quote from, I think, Les Grossman?

• 31:20Patrick Bet-David?

  Yeah.

• 31:21Adam Sosnick?

  Never go for retail.

• 31:21Patrick Bet-David?

  But you know, but you know why he's saying that? I mean, he came here on one.

• 31:26Adam Sosnick?

  Yeah.

• 31:26Patrick Bet-David?

  So to him, that's personal. That's a success story. Now, to somebody who was born here and they're a white, and they were raised in a certain way, where they're white nationalists, uh, okay, you view me as, "Go back to Iran. Deport Elon back to, what do you call it, South Africa. Deport Vivek back to, uh, uh, India, right? And you make those types of comments." All right, I don't think that's majority of America. I think that's less than 5% of America.

• 31:58Adam Sosnick?

  That is the far-right, ultra-nationalists.

• 32:00Patrick Bet-David?

  That's the far-right. And the far-left wants open borders and let everybody come in here. Let's legalize everyone. The far-right wants, "If you're not a white nationalist, get the hell out of here." The problem here is you as a consumer not knowing the position of the individual before they say it and you think everyone is in that position. They're not. Not everyone's in that position. So this is why it's caused a little bit of confusion. I'm reading a book right now by Robert Half about how recruiting firms were grown in the 80s. And one of the things he said, he said, he's the founder, Robert Half, his name is Robert Half, he wrote this book on HR. I don't know what the book's name, it's actually really good.

• 32:44Patrick Bet-David?

  He explains how in the 70s, one of the things that happened in 70s and 80s is the media, every time you would see somebody become a billionaire, everybody would say, he made his billions by hurting someone. So the image was the only way you can get rich is by what?

• 33:03Adam Sosnick?

  Hurting.

• 33:04Patrick Bet-David?

  By hurting somebody. By telling scam artists, con artists, all this other stuff. Some of the words, I mean, a community notes section came up, Rob, if you can pull this up. I saw one on, they called Vivek a scammer, con artist, they called, there's a bunch, but here's one right here.

• 33:20Adam Sosnick?

  Such a lazy, weak argument.

• 33:22Patrick Bet-David?

  But put this one up there, right there. On the tweet that I put up, look at the bottom there. Patrick Bedevit made his money by founding a predatory, multi-level marketing pyramid scheme, which he then used to market himself as a business guru on YouTube. He is essentially a scam artist. By the way, the community notes allowed that for a couple hours, then it was taken down. Okay, that's the whole community notes concept. Wikipedia and community notes are somewhat similar. I know he launched, I actually like community notes, to be honest with you. The only thing you have to be careful with community notes is that now went everywhere. Hey, this is what it is on. At the end of the day, you know how hard it is to build a national insurance agency, dealing with regulators in every state. Tom was the president of the insurance company. He's the CSO of it till today. You're dealing

• 34:07Patrick Bet-David?

  with every single agency. We pay taxes in God knows how many states. To grow a company like that and then for somebody to cut a check for a quarter of a billion dollars after they do quality of earnings, which Tom, can you tell everybody what a quality of earnings is?

• 34:22Tom Ellsworth?

  What a quality of earnings report. So everyone knows how to sell a house. In the middle of selling a house, you need an inspection. If you're buying a house, your bank requires the inspection to ensure that the house is in good shape and they're going to give you a mortgage for it, right? Very simple. An inspection times 1,000 is a quality of earnings report that gets done on your business. So they say, hey, we like to do an inspection and part of that inspection can be quality of earnings. What do they do? They're looking for fraud, they're looking for offshore bank accounts, they're looking for transactions.

• 34:49Patrick Bet-David?

  They literally go through your bank account and watch every single expense, anything you ever bought, purchased, personal, everything.

• 34:56Tom Ellsworth?

  Everything. Wire transfers. It's like a forensics.

• 34:59Patrick Bet-David?

  But you have to do it, you're about to cut a quarter billion dollar check.

• 35:01Tom Ellsworth?

  So think of it as you're selling a company and the inspection, the house inspection to sell that company, is called a quality of earnings report and it only gets done by people like PWC and Accenture, big companies, you sell a company for more than $50 million, it is a big inspector, it takes months to do, it costs at least a quarter of a million dollars in my experience, that's what it costs. And guess who pays that? You, if you're selling your company, you have to pay that before it closes. So guess what, if the deal falls through, the economy crashes, they can't get their loans.

• 35:32Patrick Bet-David?

  It's an audit.

• 35:33Tom Ellsworth?

  Guess what, you have to pay it anyway.

• 35:34Patrick Bet-David?

  But, but here's the point. So if a person's never gone through building a business or selling it, I don't blame you for not knowing.

• 35:43Tom Ellsworth?

  How could you not know what a quality of earnings is?

• 35:46Patrick Bet-David?

  Yeah, how can you not know? Like for example, I don't know what it was to, you know, mothers, labor, all this stuff. Then I saw my wife have four kids, back to back to back to back, all without, what do you call it? Pitocin, without epidermal, I'm like, oh my God. The level of respect for your wife goes up when you watch them give birth. You're like, damn, I don't know the pain, but oh my God, salute for what you do. Then you see them nursing while you're sleeping trying to run a company, they're waking up throughout the night, three, four, five times a night, you're like, wow, I thought I worked hard. I don't, you know, the amount of hours a mother puts in when they're working and raising a child, hey, true role models, mothers don't work 80 hours a week when they have a newborn.

• 36:27Patrick Bet-David?

  They're working 168 hours a week, literally, because you're not sleeping half the time. So, you know, we have to, we have to keep in mind that this concept that I explained two months ago, that I said, you're gonna see them pinning Trump against Musk and there's possibility of there being a civil war. FYI, think about what Democrats and the establishment wanted for Christmas. Imagine what you wrote, my kids all wrote a card on what they want for their Christmas except for my oldest son. He says, I want shares in Manect, that guy is wired in a very different way.

• 37:04Patrick Bet-David?

  Okay, and you know, he goes, Vinny asked him, he says, hey, what do you want for Christmas? What do you tell him?

• 37:09Adam Sosnick?

  I bought all the kids something and at the end, like for the third time, I'm like, I'm like, Tico, just tell me, cause I'm gonna go get it right now. He goes, just the time with you is the gift. And I was like, this freaking guy. He just wants to hang out. And I was like, what a freaking kid.

• 37:22Patrick Bet-David?

  But think about, think about what you.

• 37:24Adam Sosnick?

  He said that to you?

• 37:25Patrick Bet-David?

  Yeah.

• 37:25Adam Sosnick?

  I owe him 20 bucks.

• 37:26Patrick Bet-David?

  Think about, think about what you asked for Christmas. Okay? What did you want for Christmas?

• 37:33Patrick Bet-David?

  Think about what your kids asked for Christmas. Then think about what the establishment and the left and Democrats, after losing to Trump, wanted for Christmas. You know what they wanted? This is exactly what they wanted. Now that they lost to Trump, they wanted to see the doggy dog community come out. And it's happening. And it's nasty. And it's ugly. I've been in business for a long time. When you run a business, you go through a lot of stuff. You have thick skin. You're not worried about it. It's gonna happen. It's gonna, we're in this community. We're gonna talk. I can't expect people to not say anything while we're talking ourselves and we're giving our opinions. I have no problem with that. But the part I will tell you is, that we have to be very, very careful with,

• 38:17Patrick Bet-David?

  is watch everyone's motives. And stay skeptical with everybody, but at the same time, you know,

• 38:28Patrick Bet-David?

  even with people giving their own messages, you have to know, nobody celebrates more than when there's a divorce and an infighting in the enemy's house. You are the enemy to the other side. The other side is not happy that America's making progress. The other side is not happy that everybody's flying into Mar-a-Lago to have a meeting with Trump. The other side is not happy. They're not happy about it. By the way, this is just the beginning. You think this is anything? This is gonna be elementary to what they're gonna be doing in 2025 and 2026.

• 39:00Adam Sosnick?

  And can I say one thing, Pat, but just for people out there, and I know, and I could guarantee the haters scam, you just repeat what the hell you hear because you have nothing better to do with your life. Community notes, it's technically supposed to fact check. Okay, for instance, remember the one time I posted, I was in here, we're on a podcast, and I thought Jimmy Carter died. It's, I mean, God rest his soul, he actually did die. But I posted it, I posted the photo, and we all were like, wait a minute, no, he didn't. Somebody went in there and community note says, he is still alive. They were fact checking my false information, okay? If, that's like somebody saying, hey, this player is six foot two. They'll community know, which is a group of people together, God knows what their biases are, and they fact check you. This, what this person did right there, isn't a fact check.

• 39:44Adam Sosnick?

  This is someone's opinion on you. This should, this should be something that's put in the comments section. So I have to question community notes because who's fact checking? And Rob said this yesterday, who's fact checking these so-called fact checkers? That's not a fact. That's somebody's biased opinion that they're getting from Wikipedia. So how is that, you know what I mean?

• 40:02Patrick Bet-David?

  So a guy sends me a message and says, let me tell you, you're on different Telegram groups saying, put helpful. Put helpful.

• 40:10Adam Sosnick?

  See what I'm saying?

• 40:11Patrick Bet-David?

  Put helpful, did you get it?

• 40:12Adam Sosnick?

  Yeah, yeah.

• 40:13Patrick Bet-David?

  So there are these communities that say, put helpful.

• 40:16Adam Sosnick?

  Of course, they're haters.

• 40:17Patrick Bet-David?

  The same way there is the Wikipedia army, there is the community notes army. And by the way, they're not going away, you just have to know. They're not going away, you know, they have a lot more time on their hands to sit there and do what they're doing.

• 40:27Tom Ellsworth?

  And I'll tell you something about Wikipedia, it's not an offshoot, Pat, here. This is a, I did a case study.

• 40:32Patrick Bet-David?

  We gotta get to the next story after this.

• 40:33Tom Ellsworth?

  I did a case study some years ago, but, and it talked about that there is, in pharmaceuticals, they have paid lobbying organizations, PR firms, that do nothing but put stuff onto Wikipedia, and they have sensor alarms. And the sensor alarm is what it was described to me as. As soon as something is posted on a Wikipedia page, maybe for a drug, they see it and look at it, and they go in it and they attack it. And they have multiple PR firms that attack it and change it to what they want. This is the whole astroturf side of gaslighting. And so Wikipedia is not. A good thing, in my opinion, it's not particularly credible because of what has happened

• 41:17Tom Ellsworth?

  and the fact that these things are really going down. And so, when you reference that, that's not there, but the other side of it is, to your point, who's fact checking the fact checkers? Or does it become like Wikipedia for cabals of people can basically, you know, say, hey, get on Telegram, get on the Discord group. Hey, something just got said about the Lakers. Go after the Lakers, go after the Lakers, go after the Lakers. There's mechanisms in the modern internet that can be used by groups to go after people they want to go after.

• 41:44Adam Sosnick?

  I have two quick points. This thing really bothers me, this community note. Why does it bother me? I didn't work for PHP. I worked in the insurance industry. And if there's anybody that would know about being the black sheep of the life insurance industry, it's this guy that works in the life settlement world. How many life settlement companies went out of business? You said you went down to Waco, Texas one time, life partners out of there. I would call people. If people don't know what I do, it's basically the exact opposite of life insurance. I buy existing life insurance policies for people and I give them cash. Very interesting business model, very lucrative if you can make your way in this world. But when I met PBD in the gym at a Nalba conference, massive, massive insurance conference, he told me his business strategy, Blue Ocean Strategy. I said, wow, good luck with that, man.

• 42:28Adam Sosnick?

  I don't know anybody who's doing that. So what I do know about the life insurance business is that every two years you have to do continuing education to go out there and recruit.

• 42:37Tom Ellsworth?

  By law.

• 42:38Adam Sosnick?

  And start a business and start with a Blue Ocean Strategy recruiting Latina females in a business that is predominantly MPS, what I call male pale and stale. Old guys, no offense, Tom, I love you too. And then recruit and build a business. How many licensed agents has you built? Forty thousand agents you've recruited?

• 42:55Tom Ellsworth?

  Sixty thousand.

• 42:56Adam Sosnick?

  Sixty thousand, who's counting though? And then to go out, and I know a lot of these agents have become good friends with them. And you go to these insurance conferences, you think you're having fun? You think you're partying? You think that's what you're doing at insurance conferences? No, no, no, no, no, no. I go to PHP's big event, are you fricking kidding me? Ludacris is there.

• 43:17Tom Ellsworth?

  Nelly.

• 43:18Adam Sosnick?

  Shaq was there, Dilly Boy's sitting on his lap there, BFF, Nicky Jam is doing- his thing, Nelly, it's getting hot up in here at nine AM. What the hell's going on with that?

• 43:26Patrick Bet-David?

  I appreciate that, but let's go.

• 43:27Adam Sosnick?

  No, but the point is this, it's so easy for someone like, he is a scam artist. They have no idea what the kind of effort that you put into this.

• 43:33Patrick Bet-David?

  But let me tell you though, but all I'm saying to you is, I don't have a problem with anything anybody is saying. They have the right to say anything they want to say. I think one of the best things a young man can do is get into sales and work your ass off and being an opportunity where you can train, speak on stage, be a sales leader, whether it's, you know, there's a lot of companies that are recruiting model companies. New York Life, Keller Williams, you got a lot of these companies that they could, Primerica, they can do very good things for you, for you to go out there and learn. Do it, but it's not for everyone. The only thing for me with this was the model of community notes. All the other stuff, nothing off my, water off my back.

• 44:12Adam Sosnick?

  Totally understand, and you don't mean I stand up for you, you can stand up for yourself, you're a big boy. It bothers me because you're saying, hey, I don't have a problem with this. I do have a problem with this because it's lazy, it's weak, and you're just talking shit online.

• 44:24Patrick Bet-David?

  It's not going away, just so you know that.

• 44:26Adam Sosnick?

  And moving on.

• 44:27Patrick Bet-David?

  This will not be the first or the last time.

• 44:29Adam Sosnick?

  Totally understand.

• 44:30Patrick Bet-David?

  For many, many years.

• 44:30Adam Sosnick?

  But it's weak and it's, um.

• 44:32Patrick Bet-David?

  Okay.

• 44:33Adam Sosnick?

  The last thing with Trump, by the way, you know, we say the, basically this is going to come down to Trump. What, you know what he said about H1B visas? You heard his quote? Because we didn't address Trump and I'll do this real quick. Trump said, I've always liked the visas. I've always been in favor of the visas. That's why we have them. I've have many H1B visas on my properties. I've been a great believer in H1B. It's a great program. By the way, we always talk about who's the last person in Trump's ear. Who's the last person in Trump's ear? Likely it's Melania. Fun fact, you know, two out of three Trump's wives, foreigners, immigrants, legally Melania and his first wife Ivanka, uh, so he respects. He's pro. Legal. Legal immigration. We're gonna build a wall.

• 45:17Patrick Bet-David?

  You have to.

• 45:18Adam Sosnick?

  With a big, beautiful door.

• 45:19Patrick Bet-David?

  The part with Trump is when Trump said to Hillary in the debate, when they said, you know, he uses all the tax cuts and all this stuff and he barely pays any taxes. Says, yeah, absolutely. So do all your donors.

• 45:31Adam Sosnick?

  Yep.

• 45:31Patrick Bet-David?

  If you don't like it, do something about it. How come you haven't all these years? So, yeah, there's, there's not, the only thing is the argument about H1B that you have to hear. It is broken. The current system is broken. The lottery system doesn't make sense. We're not getting the best. We're paying them less than somebody that can do the job here. The offer has to match the same. You have to identify the people that are abusing the middlemen that are taking the money out. That that model has to change. And in my opinion, there's nothing wrong with the good talent coming here. Don't bash those people that are coming here. Fully agree. They love America. Yes. Some of the guys that are coming here from some of these countries and they're bashing America and you owe me this and F you and you know, the illegal immigrants, totally get it 100%.

• 46:14Patrick Bet-David?

  But a lot of these guys come here, they love your country and they want to make it their own. They want to be able to say they're American. And my suggestion is to be open to that idea. That's what made this place the melting pot. FYI, you know who came out with the H1B visa program? I think it was George Bush, the first Bush in 1990. Okay, all right, let's go to the next story. It is broken and does need to be fixed. Trudeau's top minister at Mar-a-Lago to discuss border security. Okay, Trudeau's top minister at Mar-a-Lago to discuss border security. So Dominic LeBlanc and former Foreign Minister Melanie Jolly met the US Commerce Secretary

• 46:54Patrick Bet-David?

  nominee Howard Lutnick and Interior Department nominee Doug Burgum at Mar-a-Lago to discuss Canada's border plan. The plan includes installing surveillance towers along the border and amid the Canada's border, uh, uh, what is it amid the what? Amid, uh, uh, uh, uh, uh, uh, along with, uh, aiming, arming the Canada Border Services Agency with more helicopters, drones and workers while also addressing the harm caused by fentanyl and the potential negative impact of a proposed 25% tariff on Canadian goods. Lutnick and Burgum agree to relay these updates to President Trump. So they did not meet with Trump. They met with Trump's leaders.

• 47:36Patrick Bet-David?

  And then Kevin O'Leary comes out and says the following, and then Tom, I'm going to come to you right after this. Rob, if you got the Kevin O'Leary clip? I'm ready. He makes a comment about how half of Canadians feel about Canada being the 51st states. Go ahead, Rob.

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• 49:18Tom Ellsworth?

  There's 41 million Canadians, basically the population of California, sitting on the world's largest amounts of all resources, including the most important, energy and water. Canadians, over the holidays, the last two days, have been talking about this. They want to hear more. And so, you know, there's obviously a lot of issues, more details, but what this could be is the beginning of an economic union. Think about the power of combining the two economies, erasing the border between Canada and the United States.

• 49:47Adam Sosnick?

  And putting all that resource up to the northern borders where China and Russia are knocking on the door. So, secure that, give a common currency, figure out taxes across the board, get everything trading both ways, create a new, almost EU-like passport. I like this idea, and at least half of Canadians are interested. The problem is, the government's collapsing in Canada right now. Nobody wants Trudeau to negotiate this deal. I don't want him doing it for me, so I'm gonna go to Mar-a-Lago. I'll start the narrative. The 41 million Canadians, I think most of them would trust me on this deal.

• 50:23Tom Ellsworth?

  So, here's what's going on. He brings up some very interesting point. I take you back to November 1st, 1993, with Helmut Kohl, who was Chancellor of Germany at the time, and François Mitterrand, one of the famous leaders of France, got together and put together the Maastricht Treaty, M-A-A-S-T-R-I-C-H-T, Maastricht Treaty, which established the EU to do exactly what he talked about. Because in the EU, they had the rich countries, and they had the poor countries. And you had Portugal, and you had Italy, and you had countries that had some struggling economies. And they came together, and that's what created the EU. And, there it is, the Maastricht Treaty. You know, it was November 1st, 1993, is when it was ratified, and it brought them all together.

• 51:08Tom Ellsworth?

  And they had one currency, except the UK, who said, "You know what? We have the strongest currency out here. We're gonna keep the UK pound, because you knuckleheads are probably gonna screw this up, and you're gonna expect the UK pound to carry the currency of Europe." So, that's what happened. And guess what? This is what Kevin O'Leary's saying. The US dollar and the Canadian dollar used to be kinda close together. You know what it is right now? A Canadian dollar, if you handed it to me in Buffalo, New York, because you came across to see Niagara Falls, you know how much I would give you? 70 cents, US.

• 51:41Adam Sosnick?

  Oh, damn.

• 51:42Tom Ellsworth?

  Yeah, yeah.

• 51:43Adam Sosnick?

  Little loonies?

• 51:44Tom Ellsworth?

  So, and by the way, do you know when Finance Minister Dominic LeBlanc and Foreign Minister Melanie Joy... Wait a minute, your Finance Minister and your Foreign Minister come to Mar-a-Lago to talk to Commerce Secretary nominee Howard Lutnick? Finance? Foreign, wait a minute, maybe they're talking about an EU. And by the way, you know, an EU would make sense because the US is an energy exporter right now. And it would actually strengthen Canada. And what the US doesn't need is a failed Canada. But the US doesn't want to be the one that rescues Canada. And so what's going on right now is Canadians don't like their taxes. They don't like what's going on immigration. And by the way.

• 52:28Patrick Bet-David?

  And they hate their leader.

• 52:29Tom Ellsworth?

  Yeah, and by the, by the way, guess what? Guess what the two number, number one and number two issues for Canada is as they push against Trudeau.

• 52:39Patrick Bet-David?

  What?

• 52:39Tom Ellsworth?

  The economy is number one. Guess what number two is?

• 52:41Patrick Bet-David?

  What?

• 52:42Tom Ellsworth?

  Immigration.

• 52:43Patrick Bet-David?

  Oh, great.

• 52:43Tom Ellsworth?

  Hey, that's funny. We had a similar election and we elected a leader to lead. Canada's people and Kevin O'Leary are reacting to the leadership of Donald Trump, even as he carries the title of president-elect. And he's talking exactly about what happened in Europe when they harmonized things to stabilize those economies.

• 53:03Patrick Bet-David?

  Tom, what's the likelihood of this happening?

• 53:05Tom Ellsworth?

  Um, I think it's probably 20% and rising, especially on the energy side. By the way, that guy that we.

• 53:13Patrick Bet-David?

  Let me, but, but the question I'm asking you is not.

• 53:15Tom Ellsworth?

  Of an EU-type treaty.

• 53:16Patrick Bet-David?

  Yeah, no, what, what is between what, US and Canada?

• 53:19Tom Ellsworth?

  Yeah, not a state, just an EU-type treaty.

• 53:22Patrick Bet-David?

  So the 51 state, that's not going to happen.

• 53:24Tom Ellsworth?

  No, that'll happen to Puerto Rico sooner than that would ever happen in Canada.

• 53:27Patrick Bet-David?

  Okay, so 50, so an EU-like treaty, that would benefit US in what way? I know would benefit Canada where US wouldn't put a tariff on them. But how does that benefit us?

• 53:40Tom Ellsworth?

  Well, two things, right? A, a somewhat stronger Canadian currency helps Canada. It actually helps us right now with the Canadian currency week when we do energy trades, right? Because they have to pay us a whole lot more Canadian dollars, you know, for the energy. So that helps us. But if we move it together on the northern edge, remember, um, I believe the number is 81% of Canada lives within. 200 miles of the US border. Because you have Montreal, you have Vancouver, you have Toronto, and I think, I think that's it. I think it's the 80 to 100. 80% of Canada lives within 200 miles of the US border.

• 54:26Tom Ellsworth?

  And so you, you already have all of this. Yep, there it is. 93 miles. 80% of the population lives within 150 kilometers, only 90 miles. So you're basically talking suburbs of Buffalo, Detroit.

• 54:39Patrick Bet-David?

  Right.

• 54:40Tom Ellsworth?

  And Seattle. That's what you're talking about. Toronto is right there, Windsor Lock at Detroit. Buffalo and Montreal, right down the street.

• 54:48Patrick Bet-David?

  So, so the winner here is Canada more than it is US?

• 54:51Tom Ellsworth?

  The winner, the winner here is a stabilized Canada. And to the US, you know, a stabilized neighbor, I think, I think is very positive. And you already have a lot of labor that goes back and forth.

• 55:06Patrick Bet-David?

  Mm-hmm.

• 55:06Tom Ellsworth?

  The, um, uh, for a lot of years Ford has built tons of trucks right over the border in Canada, in Detroit. It, it looks like Detroit. Cause you say, well, where does Detroit stop and Toronto begin? I can't really tell you. You know, it's, the factories are right there. It's similar to Maquiladora's. Maquiladora meant little sister, I believe.

• 55:24Patrick Bet-David?

  Yeah.

• 55:24Adam Sosnick?

  Tom, I know you're Canadian, so you have a vested interest in this, by the way.

• 55:27Tom Ellsworth?

  Canadian descent.

• 55:28Adam Sosnick?

  Anyone we hear that reaches out a manect, by the way, reached out a manect to us. Every single Canadian is like, dude, how the hell do I get out of Canada? What's going on in Florida? Can you get me to America? I'm like, what do I look like? Ice? How many messages do you get from people in Canada being like, get me out of this place?

• 55:45Patrick Bet-David?

  For me, the number two country by a mile is Australia and Manect.

• 55:49Adam Sosnick?

  Really?

• 55:49Patrick Bet-David?

  It's not even close.

• 55:50Adam Sosnick?

  Mine was, I was at Trader Joe's and a girl from Canada literally stops me. She goes, oh my God, I can't believe you're here. I'm like, so where are you from? She goes, Canada. And I can hate it. And she's like, we're all, everybody's trying to come here. The president, what, uh, Trudeau is horrible. The taxes suck, the borders. I'm, I'm like, geez. Every, I have not heard one person go, man, Canada, zero.

• 56:13Tom Ellsworth?

  Yeah, everything on the zero.

• 56:14Adam Sosnick?

  Did you hear what Ben Shapiro said about, uh? Trump and Trudeau, I think it was actually at Turning Point at Amfest, did you hear what he said?

• 56:20Patrick Bet-David?

  No.

• 56:20Adam Sosnick?

  The story? He goes, and Ben Shapiro actually did a decent Trump accent, he goes, Trudeau's meeting with Trump, and he goes, "Hey, Justin, if there were one thing that I could do to wreck the Canadian economy, what would it be?" And Trudeau goes, "Well, you know, you're a really powerful country, but, you know, President Trump, if you tariffed and taxed our vehicles, that would probably be the worst thing, that would probably wreck our economy." And Trump goes, "Justin, let me teach you the first rule of negotiations. When someone asks you, 'What would wreck your economy?' Uh, don't answer it, guy."

• 57:05Adam Sosnick?

  The crowd goes up in uproar, and basically it just shows that Justin Trudeau's the dumbest negotiator ever.

• 57:10Patrick Bet-David?

  Period.

• 57:11Adam Sosnick?

  Just reeling his hand. "I called him a fag last week, you don't have to be gay to be a fag, he's not gay, he's a fag." Do we have the clip from Ben Shapiro? Do we have that clip?

• 57:19Patrick Bet-David?

  I mean, we don't need to play it.

• 57:20Adam Sosnick?

  We don't play it, I did it, you said it.

• 57:22Patrick Bet-David?

  You did a great job.

• 57:22Adam Sosnick?

  Anyway, but Justin Trudeau, like I said last week, is a dead man walking. This guy Pierre Poliev is a stud, he's eating his lunch every single week, and he's gonna, the guy that's gonna be negotiating with Trump, we're gonna see how it goes.

• 57:35Tom Ellsworth?

  By the way, if they stabilize their economy, and they lower their tax rate, those consumers are buying more stuff, and we're like their largest trading partner.

• 57:44Adam Sosnick?

  Mm-hmm.

• 57:44Tom Ellsworth?

  So they're buying stuff like energy.

• 57:46Patrick Bet-David?

  Yeah, I'm just trying to see how it benefits, how it benefits us when we look at this. Let me go to the next thing here. US homelessness is up 18%. And officials are blaming the migrant crisis, devastating natural disasters, and a lack of affordable housing. Rob, I think you got a video on this one here, if you do, if you want to prep it. Is this it?

• 58:03Adam Sosnick?

  It is, it's a Fox News report on this.

• 58:05Patrick Bet-David?

  Okay, go for it, go for it. Welcome back. The Department of Housing and Urban Development recording a massive 18% increase in homelessness this past year. Shocking numbers.

• 58:16Adam Sosnick?

  Its latest report says, which came out today, by the way, at least 770,000 people experienced homelessness. That includes 150,000 children. California, number one in the country with over 187,000 homeless. HUD says the lack of affordable housing, worsening natural disasters, and the migrant crisis are all making it harder for people to find places to live in.

• 58:38Patrick Bet-David?

  By the way, the number is, US experienced 18.1% increase in homelessness in 2024. Brings the total up over 770,000. Rob, can you pull up the homelessness population in the last 10 years? According to Department of Housing, the rise was driven by sky-high housing costs, natural disasters like the Maui wildfire, and a surge of migrants. With HUD reporting family homelessness more than doubled in 13 communities, impact by migration, including Denver, Chicago, New York City. Renee Wills of the National Low Income Housing Coalition called the increase "the tragic yet predictable consequences of under-investing in the resources and protections that help

• 59:22Patrick Bet-David?

  people find and maintain safe, affordable housing." Nearly 150,000 children were homeless on a single night in 2024, reflecting a 33% jump from 2023. Oh my God. Did you hear that? Yeah. Let me say that one more time, folks. 150,000 children were homeless on a single night in 2024? That's a 33% increase from last year. This is just children, okay? And it's not going away. Tom, how, how, how do you foresee a Trump administration coming in, right? They're, they're solution-oriented. How do you address this issue? Especially when you think about

• 1:00:05Patrick Bet-David?

  the 773. Rob, can you pull up, out of the 770 homeless population, what percentage of that is just the state of California? Okay, if you type in, uh, uh, "highest homelessness population by state," "highest homelessness population by state," let's see what it is, and if it gives us an update. That's as of 2023. So we don't have the 24 numbers yet. But it's okay, let me just read that, Rob. California will still be number one. 181, okay, California. And then 103, New York, 31, Florida, Washington 28. Can you pull one more down? Let's see who fifth is.

• 1:00:43Patrick Bet-David?

  Let me just see this here. Go a little bit lower.

• 1:00:45Adam Sosnick?

  Rob, I'm gonna send you some stats real quick.

• 1:00:47Patrick Bet-David?

  Go a little. I don't think that's the one, Rob. Go a little lower than the one that. Oh, right there, right there. So, Washington, Dennis, Texas. And then per 100,000, New York is 527. Vermont is 509, Oregon 476, California 466, Hawaii 434. Adam.

• 1:01:04Adam Sosnick?

  Did you see the Wall Street Journal breakdown of this? Ooh, we wow, wow, we wow, wow. Wall Street Journal just came out with an article, I was reading it last night, and it's called "The Blue State Homeless Boom." Boom, boom, goes to room. You know, the number one state in terms of increase percentage-wise? Because obviously California has the most.

• 1:01:21Patrick Bet-David?

  Was it New York?

• 1:01:22Adam Sosnick?

  Nope, not New York. You want to guess again?

• 1:01:25Patrick Bet-David?

  Hawaii?

• 1:01:25Adam Sosnick?

  Nope. And it's not even close.

• 1:01:29Patrick Bet-David?

  I mean, it's not California. Okay.

• 1:01:31Adam Sosnick?

  Illinois. Here's the breakdown. Increase in homeless population from 2019 to 2024. There you go. Texas, only 8%. Florida, 10%. Illinois, 153%. California, 23%, not good. New York, 71%, and the US average is 35%.

• 1:01:51Patrick Bet-David?

  As much as I get the 153,

• 1:01:53Adam Sosnick?

  Yes.

• 1:01:54Patrick Bet-David?

  Look at New York by number. New York was number one by increase of actual homeless people. Okay, Illinois, 2.5x what they had in population, but New York went up 66,000. You were just in New York.

• 1:02:12Adam Sosnick?

  I was just came back.

• 1:02:13Patrick Bet-David?

  How was it when you were in New York?

• 1:02:16Patrick Bet-David?

  Specific to homelessness.

• 1:02:18Adam Sosnick?

  I mean, look, the areas I was hanging out with, with the homeless people. But yeah, look. We all know what's happening with Eric Adams. We all see what's going on with the subway. I actually filmed a video when I was in New York. And basically, I love New York. I used to go every single summer. It's an amazing city. Obviously, you have your relationship with the Yankees. And while I was there, I I filmed a video. I was like, look, I'm here in New York. I'm getting out of a subway. I love New York. It's the best city in the world. Other than the fact that it's the most expensive city to live in the United States, the cost of living, the homelessness, the crime, the freezing cold rain, the Mets, the Jets, the homelessness that I mentioned, the cost of living, the fact that I'm paying $5,000 for a shoebox apartment, the fact that homeless rats, garbage, but other than that,

• 1:03:02Adam Sosnick?

  I love New York. So New York has some massive issues. How much, how much tax revenue left New York during COVID? $30 billion, something like that. New York has some major issues. This homelessness situation that was going on. The, the guys that were beating up cops in New York, Vinnie, you covered this, flipping the bird. New York has some major situations. In my opinion, New York was the best city in America. But now the wokeness, the, the Columbia University, everything that's going on there.

• 1:03:32Patrick Bet-David?

  How does a Trump, how does a Trump administration fix this homelessness problem?

• 1:03:36Tom Ellsworth?

  Yeah. Coming back to your question, what is, what does Trump do? Well, first of all.

• 1:03:41Patrick Bet-David?

  You're hired, they hire you, they give you the job. What do you do?

• 1:03:43Tom Ellsworth?

  First of all, you, you know, you look at what's happening and how do you make it stop and how do you fix it? First of all, immigrants are coming here with no place to live, with no job to get so that they can't even in a short order, make a little bit of money to pay for a small place and it's not the affordable place. So how do you drive the price down in any market? Supply, increase the supply that's out there or reduce the demand for it? So first of all, and people are gonna go all over the comments on this, he's talking about deporting a lot of, a lot of people. And once you deport people that aren't supposed to be here because they're criminals and they're floating around, you know, you're reducing demand, but you also got to increase the supply.

• 1:04:25Tom Ellsworth?

  And for the past three years, builders have been building, but it's where they're building, what they're building. And you got to put, I believe, you need two things. It's not enough just to say, we need affordable housing in the city of Miami. I agree we do. We need it. It's going to be more west. Okay. But what are those people going to do? Where are the jobs going to be? So you need a partnership with the big cities to attract business to put jobs in the big cities, Pat, that are, that are working class jobs. Then you need places for those people to live. So you have to do, Trump's gonna have to get HUD and Commerce together. And what I do is I get HUD and Commerce together and say, look, the homelessness is tougher in these areas.

• 1:05:09Tom Ellsworth?

  I need supply of affordable housing. I need to reduce the artificial and bad demand. Take the people that are demanding it, get them out of here. And then we gotta work with industry to bring back American jobs and opportunities so those people have something to do. So it's not a light switch. Now, the Democrats will think, well, just give them money. Give them money to go where and pay rent to who? If there's not a supply of housing, right? You know, all you're gonna have is a shortage of, a shortage of, you know, you're not gonna have shortage, it's gonna be spent on, on vices. And it's a fact. Lottery tickets, alcohol, things like this. If you just hand out money, you can't do that. He's gotta do two things.

• 1:05:49Tom Ellsworth?

  The supply of housing, work with that, and then work with the big cities to attract companies with jobs there. So some people have something to do and get paid.

• 1:05:58Patrick Bet-David?

  I got it, Tom. So what I wanna look at, you know how sometimes, Tom, we would look at a thousand insurance policies coming in and you would see some chargebacks, some stay on the books, some get canceled, some they keep. And then we would run a report to see where these chargebacks are coming from. What state, what office, what vice president, and then you would see.

• 1:06:20Tom Ellsworth?

  Find the trends.

• 1:06:21Patrick Bet-David?

  Okay, so what I wanna know is, this homelessness increase of 18%, who are they? Are they illegal immigrants? Are they veterans? What's the background? If you go a little low, Rob, this article I just sent you, it shows you all the way at the bottom. So let's, let's kinda read this together. At the top, we saw the number 770. Great. Keep going lower. Keep going low. You'll see when the numbers actually come up. It'll go up a little bit when you see numbers to see what it says right there. Since then, all of crossings at the border have dropped by more than 60%. Hut is in person. Encounters are at the lowest since July 2020. As a result, my. Okay, yeah, but for three and a half years, you. What encountered, you let them go, yeah. So in Chicago, for example, the migrant shelter census is down more than 60% and in Denver. It's down 100%, but wait till you see what is up.

• 1:07:04Patrick Bet-David?

  But according to HUD, I've found that nearly one third of the 18,800 homeless people in Chicago were children. Chicago saw 200% increase in homeless population this year. Asylum-seeking families in Chicago. So that is what? Illegal immigrants? Yep. If you, they, they use a different word. Asylum. Seeker, not, yeah. Seeking, not asylum families. Asylum-seeking families could be another word as illegal immigrants. Including those bust or flown in Chicago from other states like Texas or Florida, whatever it may be. Accountant for most of Chicago's increase in estimated homelessness.

• 1:07:41Patrick Bet-David?

  A record number of 371,000 illegal aliens were encountered authority border. December 20, record break in. May of 2022 was the previous record. Keep going lower. 1.7 million got aways. Okay, HUD. We'll put 8% decrease in homelessness amongst veterans, record low. Has Cup connect 90,000 veteran households to stable rental homes. HUD, got it? The Department of Veterans Affairs announced that it has permanently housed 47,925 veteran experiencing homelessness in 2024, which is good. Go a little lower to see if there's anything else or that's it. Yeah. So, so to me, what I want to know is what's causing it? And then what can we do to help some of them? Like every year for about eight years, seven years, we used to go to

• 1:08:23Patrick Bet-David?

  Skid Row in, in downtown LA. Okay, we'd get up at 4:30 in the morning, Christmas morning. December 25th and about 50 of us, eventually at then it was about 100 of us. We'd go to downtown LA and we would go give the homeless bibles, pillows, blankets, toothpaste. Whatever you want to call it. And I would talk to these guys. And what was weird about some of them that were there, I said, so what did you do for work before? I was an accountant. No, you weren't. Yeah, I was. How did you end up here? And one story was, man, I just, I couldn't stop drinking. Okay, how about yourself? I got a DUI. How about yourself? I got into a lot of debt. And I couldn't find a way. So what are you doing now? We're living over here. But some of them were people that if you clean them up,

• 1:09:08Patrick Bet-David?

  they looked proper. They looked good. Some of them were drugs. Some of them were, you know, felonies and, you know, people that maybe they're not going to get a job. But you have to almost find a way to see which one of them we can get back into the system. Right? Tom said a word the other day, which what was it when you went to jails? Prisons used to be called what? Correctional facilities. Correctional facilities. To correct the habits so we can get you to go back into society and become a citizen again, a contributing citizen again. We have to look at which one of them we can help out to get them back to getting a job. There are a lot of companies that hire people that are former felons, former people with criminal background.

• 1:09:52Patrick Bet-David?

  I remember one guy at the church in Shepherd of the Hills. He had a junkyard. I don't know if you remember this guy or not. He used to always go to the men's retreat. And he had 120 employees. Out of 120 employees, 75% of them had done time before. And they all worked for him. Former gangsters, they were tatted up. You would see them, they're like MS 13, 13th Street, 18th Street, TBR, all these guys. But they got jobs. So it was church and they worked over there. You gotta find a way to make themselves sufficient. What percentage of them, Tom, do you think are not? You can rehabilitate them, like correct them. Which percentage of them do you think are like, there's so much into it that good luck doing anything with them?

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• 1:11:35Tom Ellsworth?

  I haven't seen the stats on that and words talk, numbers scream, and I don't want to put a number out there that... But my own estimate, based on reading a lot of articles like this and finding that...

• 1:11:46Patrick Bet-David?

  Did you say it's a big number or a small number?

• 1:11:47Tom Ellsworth?

  No, I would say it's probably about... My guess would be it's probably around 25%. Based on reading things about the number of kids, the number of people that had an addiction like alcohol, or they had a... Things like a DUI, lost the car, couldn't drive, you know, anymore. And things like this, I would say you probably have... There's probably 20 to 25% of them, just my gut guess, my observation, that are probably going to be really hard pressed to find a job. Today, on the way to work today in Fort Lauderdale, at Commercial and Federal Highway, there was a guy that was laying in the street. His legs were in the crosswalk and his stomach was right there on the sidewalk. And me and a truck coming up, we both stopped at the same time, or both saying the same thing.

• 1:12:31Tom Ellsworth?

  We both turned on our blinkers, got out, went to talk to the guy, wondering was he hit? What's going on? He rolls over and starts just yelling incomprehensible stuff. Didn't have any weapons, said anything, and I'm just like, this is just a troubled person. So the truck guy called 911 and said, "Look, there's a guy here. We want to get him out of the street, ba, ba, ba, ba, ba." I don't see that as the norm. And I would say this person on drugs is probably way out there.

• 1:12:54Patrick Bet-David?

  Yeah, the other day we...

• 1:12:55Tom Ellsworth?

  Can they really get back to it?

• 1:12:56Patrick Bet-David?

  Yeah, I agree with you. The other day, me, Dylan and Tico were right down the street from the office. And Jen's with us, kids are with us. A homeless guy is there. He says, "Hey, you got some money?" I said, "What are you going to do with it?" He said, "I'm going to go buy food." I said, "Then I'm not going to give you money. Meet me at Five Guys." So we go to Five Guys, and I get him whatever he wants. We sit down and I have lunch with him. I'm talking, "How'd you end up here?" Good-looking guy said, "Look at your eyes. You've got, you know, Bradley Cooper eyes." He starts laughing. He says, "Well, I messed up. My family will never forgive me. This is the third time they've given a shot. They'll never forgive me again." I said, "Do you have any kids?" "No." I said, "How do you think your dad, uh, your mom and dad are on?" "Yeah, he was in his mid 40s." "So how do you think they feel about you being in here right now? How much pain do you think they're at? When they go to sleep every night, how much pain do you think they got?" "A lot."

• 1:13:41Patrick Bet-David?

  "How much do you think they would like to see you go back to being?" "Yes." "How long have you gone without drinking?" And he tells me, "I've gone seven days without drinking." I said, "Great, then here's 20 bucks." And I will follow him just to see what he does. You know where he goes? Straight to the bar.

• 1:13:54Adam Sosnick?

  Yep.

• 1:13:55Patrick Bet-David?

  He went straight to the bar.

• 1:13:56Adam Sosnick?

  Yeah.

• 1:13:57Patrick Bet-David?

  And, and to those guys, you know, churches do things, charities do things. A lot of people are doing things to help them out, but the ones that can be helped, the investment must be made in people who want to help themselves. To try to help 100%, veterans, they served for you and I, they gave us protection. We went to sleep feeling safe. We have to take care of our veterans. There's no question there.

• 1:14:26Adam Sosnick?

  Yes.

• 1:14:26Patrick Bet-David?

  Psychological PTSD, it, it's, it's challenging for a lot of them. We gotta find a way to make that work for some of them. But I think the investment's gotta be made in people that are willing to help them.

• 1:14:37Adam Sosnick?

  So we got a drug problem in this country. We got a fentanyl problem in this country. We got an alcohol problem in this country. We have a mental health problem in this country. You asked us from stats about New York City, right? Um, the article from the Wall Street Journal was basically, "What's Wrong With Blue Cities? The Blue State Homeless Boom." Here's some numbers for you, by the way. Uh, "New York City's Right to Shelter Policy Also Encourages Migrants to Take Advantage of Government-Supervised Housing, Including Hotels in, in Manhattan." Most migrants who can't find work and housing eventually move on. But most of the increase in what HUD calls, quote unquote, "chronic homelessness."

• 1:15:15Adam Sosnick?

  Is owed to mental health and drug abuse, which is report failed to mention. If you can believe it is obvious to anyone who walks past any urban homeless encampment, or for what that matter is, any street in certain neighborhoods in Los Angeles or New York City. Progressives ignore such clear social ills and instead call for more spending on low income housing, but such housing first policies have failed and demonstrated by the rising number of homelessness in progressive states. Throwing money at it is just not something, how much money did Gavin Newsom accidentally Twenty some billion dollars. misplaced, 26 billion dollars?

• 1:15:55Patrick Bet-David?

  Right, the Rob's got it.

• 1:15:56Adam Sosnick?

  There it is, oh my god. Yeah. Who, well, 24, gone? So clearly, and Oregon, I think they legalized or decriminalized all drugs during COVID. And then this past year, they're like, yeah, yeah, yeah, we're good.

• 1:16:09Tom Ellsworth?

  Unlimited, unlimited needles and bleach kits.

• 1:16:11Adam Sosnick?

  We just can't have, we just can't have drunk alcoholics, drug dealers, people on heroin just walking around in the streets and it being legal?

• 1:16:18Patrick Bet-David?

  By the way, you know that 24 billion dollars they gave to California and California's got 180,000 homeless people?

• 1:16:24Adam Sosnick?

  Yeah.

• 1:16:24Patrick Bet-David?

  Do you know if they took that 24 billion dollars and they gave it to each homeless person, they just gave it to them?

• 1:16:31Adam Sosnick?

  Yeah.

• 1:16:31Patrick Bet-David?

  You know how much money would be? 133,000 dollars apiece. Where do you think that money went to? You think it ended up going there?

• 1:16:38Adam Sosnick?

  People's pockets and, and, and, and it all comes out. Where did that money go?

• 1:16:41Patrick Bet-David?

  Nobody knows.

• 1:16:43Adam Sosnick?

  You're never gonna know. You're missing, not 240,000, not 2.4 million, not 24 million, 24 billion dollars? And by the way. Gavin Newsom?

• 1:16:53Tom Ellsworth?

  You know, words talk, numbers scream, and I'll take a sip of coffee and I'll give you one parting shot.

• 1:16:57Adam Sosnick?

  Go ahead, cause I want to say something. Tom, what's in the cup?

• 1:17:01Tom Ellsworth?

  So, um, supposed to be Tito's and cranberry, but I guess we're at cranberry.

• 1:17:05Adam Sosnick?

  That's my guy.

• 1:17:06Tom Ellsworth?

  So. What you see right now is I call it the fake statistics of winter. So, Chicago homelessness is dropping in Chicago. Yeah, you want to know why? Has anyone been to Chicago during the winter? It's freezing. Do you know where they're going? They're, they are moving out. They are looking for refuge in other smaller cities and coming south. That is, that is a fact of what's going on, but we need to move on. But right now the stats, you know, lie a lot about it. But I'd love to see HUD stats on chronic homelessness to find out if my guess about...

• 1:17:37Patrick Bet-David?

  I just want more data on this.

• 1:17:38Tom Ellsworth?

  Yes, exactly. So do I. So is my guess about 20, 25% correct?

• 1:17:42Patrick Bet-David?

  Brandon, if we've not done a clip, I think we've done one on homelessness. Maybe put a list that we may do something on this here soon.

• 1:17:48Adam Sosnick?

  Well, let's, let's put the blame of why, why, why this jump of 18%, which is absolutely insane? It comes down to the Biden administration. Nobody, none of us said it. It's them, it's Alejandro Mayorkas. They're talking about what is the, the border? Drugs, inflation, how much, dude, gangs taking over apartment complexes and kicking those people on the street, which adds to it.

• 1:18:10Tom Ellsworth?

  Which wasn't fake news.

• 1:18:11Adam Sosnick?

  It would know. It wasn't fake news, but they tried it. But guys, why, why is it that America has this much of a problem? These are American citizens. We care about everybody else in the world. You know why? There's no money in, in helping the homeless. There's no profit to be made. We have wars on drugs. We have war on terror. We have war on everything. You never know. There's no war on homelessness. It's these people that are here. Okay? And it's, it, it drives me insane that there are citizens, like you said, the guys in the street, Tom, I see that shit all the time. They're all struggling. They all need the help. And then you know what people say? We're going to build houses. Okay, we want to help the homeless. We're going to build them. George Carlin had that great bit where he goes, you know what? Golf courses. We have 2 million, approximately 2 million acres across the United States, 16,000 golf courses.

• 1:18:55Adam Sosnick?

  They're like, we don't have anywhere to build them. To help, take half of those freaking pointless ass walking around with your funny ass pants and build low, low freaking housing and put something...

• 1:19:04Tom Ellsworth?

  Donald Trump is going to be very upset with you when he hears that.

• 1:19:06Adam Sosnick?

  We have to help. There's no, Pat, if you could figure out, they'll never do it. A business model...

• 1:19:11Patrick Bet-David?

  Can I ask you guys a question?

• 1:19:11Adam Sosnick?

  Yeah.

• 1:19:12Patrick Bet-David?

  I got a question for you. So here's a question for you, Benny.

• 1:19:14Adam Sosnick?

  Yeah.

• 1:19:14Patrick Bet-David?

  So, let me ask you.

• 1:19:18Patrick Bet-David?

  What's the most you ever drank?

• 1:19:20Adam Sosnick?

  Me? In a day?

• 1:19:22Patrick Bet-David?

  No, no, this is, when did you get to a point where you felt like, man, I'm in too deep, I don't know how the hell I'm gonna get out of that whole other way I drank?

• 1:19:31Adam Sosnick?

  Los Angeles, covid, uh, no comedy clubs open, everything was the most depressing.

• 1:19:36Patrick Bet-David?

  Okay.

• 1:19:36Adam Sosnick?

  Horrible time.

• 1:19:37Patrick Bet-David?

  So, watch this. That is, is that the most you ever drank?

• 1:19:41Adam Sosnick?

  Yes.

• 1:19:42Patrick Bet-David?

  Okay. So, for example, like if I go to, I used to go to clubs six days a week in LA.

• 1:19:48Adam Sosnick?

  Damn.

• 1:19:48Patrick Bet-David?

  Yeah, I was, the only day I took off was Monday. Every day I was committed. So, Tuesdays is the only day I took off. So, I used to go to the club six days a week. I used to go to Vegas every other week. I was in Vegas. Very loyal, very committed, I, I-

• 1:19:59Adam Sosnick?

  You helped build the-

• 1:20:00Patrick Bet-David?

  Well, you know what it was?

• 1:20:01Adam Sosnick?

  Nobody likes a-

• 1:20:02Patrick Bet-David?

  If you look at this, this is my interest. The final product is being homeless. What are the previous seven steps before you got here?

• 1:20:11Adam Sosnick?

  Yeah.

• 1:20:11Patrick Bet-David?

  And the reason why this is important is because so many times we try to fix this, and what you don't pay attention to is, why don't we minimize and eliminate more people falling into this? We have to be just as proactive of preventing people to become homeless as we are of addressing the existing homeless people. Do you know what I'm saying? Because sometimes you're like, a sales leader talks to a sales team, and you got five disgruntled sales guys. And in your mind, all you're thinking about is what? Those five disgruntled sales guys. And your brain, your mind is consumed with those five disgruntled sales guys. You don't think about the other 30 that you have here that are fully committed, that want to improve.

• 1:20:53Patrick Bet-David?

  You want to make sure they stay ethical before they do something dumb. How do we prevent these guys from joining this camp? The more we can go through this process, then you have to find a way to prevent, prevent, prevent, and then you come for solutions at every category. Okay? Whether it is, you know, we don't do enough of selling the nightmare. I think we don't even do enough of a job selling the dream right now. We don't do enough of a job selling the nightmare. What's the nightmare? We don't do enough of a job where, I remember how many times, if, if, if, if guys were to come out and say, how many people I went and picked up from DUI in the middle of the night? I don't know what that number is. It's a massive number.

• 1:21:33Patrick Bet-David?

  And I did it so many times that I would sit in the car and we're, we're driving, we're talking. It's three o'clock in the morning, four o'clock in the morning, two o'clock in the morning. And I'm like, hey man, can I talk to you? Yes. When was the last time you had a drink? Well, I've been in jail for 12 hours. I haven't had one for 12 hours. So you're sober, yeah.

• 1:21:55Patrick Bet-David?

  Do you realize what you're about to do to your life? And for 30 minutes, I'm selling the nightmare. Your wife, your kids, your parents, heartbreak, the disappointment when your dad hears about this, the pain in your mom's eyes, nine months your mother carried you, the challenges they went through, the sacrifices they made, the number of soccer practices they drove you, when you're going on these travel teams, the amount of baseball things they did for you, the amount of things they bought for you, when they couldn't afford to buy you a video game on Christmas, they bought it on debt and he was working two different jobs.

• 1:22:33Patrick Bet-David?

  You realize how much pain you're bringing to these guys? You realize that? You realize, you think God put you here to do this right now? And I would go into selling the nightmare of you're about to lose it all if you do this. And, and, and when you're in it, sometimes you're so around other people that are also doing this and then it's done. And I'm like, look, if you go the way you're going right now, your wife's probably gonna leave you. You're probably not gonna see your kids a lot. You're gonna go through challenging times and the hardest years of your life are ahead of you. Or you can stop the decision now. Let's go to AA meeting together tomorrow. Let's go see some of these guys here.

• 1:23:16Patrick Bet-David?

  Let's find a partner, a partner buddy for you that you can go to. And then six months from now, three months from now. This could be the beginning of the greatest years of your life. The best memories, walking your daughter down the aisle, spending time with your mom and dad, reminiscing, laughing, telling jokes about the good times, all this other stuff. This could be a very special second half or two thirds of your life that's coming up. But you have to sell the nightmare. I think on this cycle, you know, like one time I was with Antoine Walker. I don't know if you remember Antoine Walker.

• 1:23:48Adam Sosnick?

  Of course. Boston Celtics, right? A hundred million dollars, I want to say.

• 1:23:51Patrick Bet-David?

  Yeah, he lost a hundred and twenty million dollars. That's how much he got paid. Can you put Antoine Walker total contract?

• 1:23:55Adam Sosnick?

  Oh, I remember him.

• 1:23:56Patrick Bet-David?

  Total paying, like, uh, career.

• 1:23:57Adam Sosnick?

  Still takes them than anyone with the heat.

• 1:23:58Patrick Bet-David?

  Career earnings, right there, yeah. Hundred and eight million dollars. Okay, by the way, it's all gone. It is all gone.

• 1:24:04Adam Sosnick?

  Where is he at?

• 1:24:05Patrick Bet-David?

  How this NBA All-Star made and lost a hundred million dollars of fortune. So, we're sitting at a cigar lounge in Chicago. And we're sitting there talking, Morgan Stanley, can you type in Antoine Walker Morgan Stanley? I just typed in Antoine Walker Morgan Stanley. I believe it's Morgan, this was seven years ago, I may, I may be wrong.

• 1:24:22Adam Sosnick?

  No, you're right.

• 1:24:23Patrick Bet-David?

  Okay, Antoine Walker, former NBA All-Star, decides, okay, this was nine years ago. Has worked with Morgan Stanley Global Sports and Entertainment Division since 2015 to educate young athletes about financials. He's telling me how he sits with professional players to tell them how they lost all the money. Remember Mark Rippon? From Washington Redskins, the Super Bowl champion that beat the Bills?

• 1:24:43Adam Sosnick?

  Yeah, yeah, he went to Washington State University, came out.

• 1:24:45Patrick Bet-David?

  Yes.

• 1:24:46Adam Sosnick?

  Rippon, R Y.

• 1:24:47Patrick Bet-David?

  Career earnings of him, I think it was forty one million dollars. If you can type in, he was those career earnings, thirty seven or forty one million dollars, some number like that, I remember, what was it? Anyways, he also made a lot of money.

• 1:24:58Adam Sosnick?

  Didn't he end up selling his Super Bowl ring or something?

• 1:25:00Patrick Bet-David?

  He won a Super Bowl. But the point is, man, like, Antoine Walker went and sat down with kids that are about to go into NBA, NFL, and, and say, "Don't waste your money." He sold the nightmare that everybody's gonna come knocking and wanting to do stuff. It breaks my heart when I see people going through, it's very painful when you see them going through, telling the story. But we gotta prevent the next ten million of getting into the system.

• 1:25:21Adam Sosnick?

  That picture that you wrote with the, with the homeless thing? Where's that thing, by the way?

• 1:25:25Patrick Bet-David?

  I don't know where it is, I wrote it.

• 1:25:26Adam Sosnick?

  But, by the way, I, I actually, I, I say this all the time, I say, for the average person.

• 1:25:31Patrick Bet-David?

  Yeah.

• 1:25:32Adam Sosnick?

  You have parents, you have friends, you have classmates, you have family. How do you get to being homeless? Imagine the bad decisions that you make like most people. Hey, man, I'm really struggling right now. Hey, bro, you can crash with me. Hey, hey, Mom, Dad. Imagine how many bridges you have to burn and how many poor decisions you have to make for someone to be like, dude, I can't help you anymore. Good luck out there. You know, everyone wants to say, well, how are we going to help the homelessness? How are we going to help these people? Look at Anton Mark, you kind of got to help yourself. This is why they call it personal responsibility and self-development and personal finance and personal agency and self reliance and self esteem because it's on you.

• 1:26:14Adam Sosnick?

  At the end of the day, if you're the one drinking and getting effed up and doing the DUIs and not listening.

• 1:26:18Patrick Bet-David?

  It is.

• 1:26:19Adam Sosnick?

  You're gonna be the.

• 1:26:20Patrick Bet-David?

  It is, but at the same time, at the same time, you know, in life, you know, when you read the Kennedy and the and the Bush's family structure, what they had, they both said, first go make your money, protect your family, then find a way to go into public service, whether it's church, politics, or charity. We can help a lot of these guys not get there. Some of us have to play the example of playing the role before you see somebody before they're about to screw up. We need to have that conversation with them. Listen, it's so funny. Today's what? December 31st. Guess what's going to happen tonight? Rob, can you pull up the number one, number one day in America for DUIs? Look at this, the number one day in America in DUIs.

• 1:27:03Patrick Bet-David?

  Number one day in America for DUIs. Okay, what is it? New Year's Day. You know why it's New Year's Day? It's really New Year's Eve. So you know what I, by the way, you know what I used to do with the sales organization? For 15 years, you know what I did? People that think this is crazy. I had a young sales team. So every January 1st, I had a sales meeting at 8:00 AM. You know what would happen? You know how many DUIs we would prevent?

• 1:27:26Adam Sosnick?

  They would show up drunk.

• 1:27:26Patrick Bet-David?

  They would show up so pissed off because who the hell puts it like, look, not mandatory, but I'm doing it. I'm going to be there. Come there if you're committed for New Year 2025. So if some of you guys are watching it tonight, you're planning on going, doing something and you're like, well, I'm going to go out, Pat, what am I gonna? Don't take your car, don't take, go Uber, and if you can, limit your amount of drinks. And if you can't even go without drinking tonight, to even for you to make a decision for yourself in 2025. Vinny, you've gone how long almost at this point? Nineteen months?

• 1:27:59Adam Sosnick?

  As of right now.

• 1:28:01Patrick Bet-David?

  I think you're at eighteen and a half months.

• 1:28:02Adam Sosnick?

  I am at one year, six months and thirty days. Amazing. And I'm never gonna go back.

• 1:28:07Patrick Bet-David?

  Nineteen months. But if you can go tonight without it, test yourself and do it.

• 1:28:12Adam Sosnick?

  I mean, kudos to Vinny because he just said four years ago, he was drinking more than any time in his life.

• 1:28:18Patrick Bet-David?

  Yeah.

• 1:28:18Adam Sosnick?

  And now he's not, but at the end of the day, it comes down to the choices you make.

• 1:28:22Patrick Bet-David?

  Destroy your life.

• 1:28:23Adam Sosnick?

  We all are the product of the decisions that we make.

• 1:28:25Patrick Bet-David?

  I agree.

• 1:28:26Adam Sosnick?

  So if you're gonna make poor decisions and do DUIs, I'm sorry, brother.

• 1:28:29Patrick Bet-David?

  Yeah.

• 1:28:29Adam Sosnick?

  That's on you.

• 1:28:30Patrick Bet-David?

  Let's go to the next one. So this is, this is a community that maybe has been having one too many drinks. The late night comedy spent shows 2024 bashing Trump as viewership continues to crash. Vinny, I'm coming to you on this one here, so.

• 1:28:44Adam Sosnick?

  Okay.

• 1:28:45Patrick Bet-David?

  Get your data ready. Rob, I think you got a video on this. Late night comedy hosts like Stephen Colbert, Jimmy Kimmel focus heavily on Trump in 2024 with ready? Ninety-eight percent of the fourteen hundred and sixty-three election-related jokes targeting who? Donald Trump, according to Media Research Center, MRC. Colbert CBS show averages 2.6 million views in 2023, 2024 season. A drop, you ready, from what? 3.8 million. Colbert went from 2.6 million to three, from 3.8 million to 2.6. That's 1.2 million viewers he lost from five years ago. And Kimmel, ABC, is at 1.3 million viewers in the third quarter.

• 1:29:28Patrick Bet-David?

  Unbelievable, 1.3 million. That was a, that's the Leno versus Letterman. And that's at 1.3 million. I can think of forty podcasts that do better, better numbers than that, 1.37 million. Both Colbert and Kimmel had emotional reactions to Trump's decisive victory, with Kimmel reportedly holding back tears on his first broadcast after the election. Meanwhile, polls indicate dwindling public interest in celebrity political opinions, with 75% of voters saying endorsements made no difference or not much of a difference on their votes, according to Rasmussen, only 12% of independents supporting celebrities sharing political views per an AP NORC poll. Rob, is this a, is this a clip?

• 1:30:09Tom Ellsworth?

  I just have a clip of Jimmy Kimmel, as well as a clip of Stephen Colbert, just a good example of their jokes about Trump.

• 1:30:15Patrick Bet-David?

  Go for it.

• 1:30:15Adam Sosnick?

  To be honest, it was a terrible night last night. It was a terrible night for women, for children, for the hundreds of thousands of hard-working immigrants who make this country go. For healthcare, for our climate.

• 1:30:30Patrick Bet-David?

  He's really climate. He's a horrible actor. Go to Colbert, go to Colbert.

• 1:30:37Adam Sosnick?

  Trump is apparently a true, pure stan. Kelly had previously spoken to The Atlantic, and they confirmed that multiple witnesses heard Trump complain that, "I need the kind of generals that Hitler had." That is so disturbing that he doesn't know why that's horrible. It reminds me of that famous saying, "Those who do not learn from history are doomed to say, 'I need the kind of generals Hitler had,' and still somehow be statistically tied in all the battleground states." And it wasn't just, it wasn't just his, his... Vinnie. Like, when's the last time any of you watched Late Night? Be honest. Have you, have you sat there and watched one of these?

• 1:31:16Patrick Bet-David?

  I will tell you, I will tell you.

• 1:31:20Patrick Bet-David?

  I watched, I used to like when Fallon used to do stuff with Justin Timberlake, but that was like 10 years ago, whatever it was. I actually like what Fallon would do. And earlier Kimmel, I watched a couple of his stuff. Well, man, there was a time I never missed Leno. When I tell you I never missed Leno, because it's Letterman versus Leno, I was all Leno. I love Leno so much that I actually went to his show.

• 1:31:44Adam Sosnick?

  And that, and that's when Late Night was what it was supposed to be. We come home, you want to unwind, you want to laugh. These two, those two specifically are a disgrace to what Late Night...

• 1:31:54Patrick Bet-David?

  That is insane. Look at that, look at that poll, Vinnie, I don't mean to interrupt you.

• 1:31:57Adam Sosnick?

  No, no, do your thing.

• 1:31:57Patrick Bet-David?

  What Late Night show do you watch? 1,800 voters.

• 1:32:00Adam Sosnick?

  Good for you guys.

• 1:32:01Patrick Bet-David?

  96% said none.

• 1:32:04Adam Sosnick?

  Yeah.

• 1:32:04Patrick Bet-David?

  2% Fallon, 1% Kimmel, 1% Colbert. Oh my God.

• 1:32:09Adam Sosnick?

  I'm so proud of every single one of you. Good for you. Don't give them any energy, because it's not comedy. It's propaganda. They're all getting paid to do what they, what they're doing. They're not about making people laugh anymore. It's just an agenda. I'm sick and tired of it. Let's just talk about these people. Jimmy Kimmel. Who is one of the most unfunniest people on the planet? He's labeled as a stand up comedian. Who's ever watched Jimmy Kimmel? Have any of you guys seen his special? Anybody? He's not. And he wants to cry about Trump and women. He was on the man show. And Rob, I've posted clips of him being disgusting and perverted with women. And he wants to sit here and judge. He did blackface Karl Malone. He did blackface. Hey, Karl Malone. Look at this. That race? Look at that. Look at that. Who does that?

• 1:32:54Adam Sosnick?

  He did videos basically like harassing women. Yeah. And like pretending to lick them and. Yeah. Oh, humping them from behind. You know why their numbers are down? Because Americans are sick and tired of being lectured by out of touch elites. Okay? And they pushed the narrative like late night used to mean something. Okay? It was about entertaining everybody, no matter their political, their politics or what they stood. Johnny Carson, God rest his soul. I still watch clips of him with, um, who's Don Rickles all the time. They never divided the country, guys. They brought people together. They, the, uh, but these guys, they just have a soapbox. They talk about, what about Stephen Colbert? Colbert, remember that, I hate using this word, cringe?

• 1:33:37Adam Sosnick?

  He was doing a dance, the vaccine jab. Go jab yourself. With the dancing syringes. Unbelievable.

• 1:33:44Patrick Bet-David?

  But I got a question for you.

• 1:33:45Adam Sosnick?

  Yeah.

• 1:33:45Patrick Bet-David?

  But I got a question.

• 1:33:46Adam Sosnick?

  It's all failed. It's failed and I'm happy.

• 1:33:47Patrick Bet-David?

  But I got a question for you, Tom. And, and to me, here's how this goes. Okay? For example, we fund a business and we sit there and we look at the different business units. And we'll say, okay, Tom, we put $5 million into this business last year. What's the return on it? This? We put 10 million into this business last year. The return is 40 million bucks. Okay? This other one, we put $3 million into this. We did this. How long can you go entertaining something that's not getting money back or return back or any of that back? Tom, what, what are, what is, how long is ABC gonna go with this? Before they fire and replace a Kimmel? Let me give you guys a idea on what I think with this.

• 1:34:31Patrick Bet-David?

  And I'll, I'll just go to you first and I'll give you my thoughts here. How long do you think it'll last for Kimmel to go the way he's going? Before a Bob Iger, cause ABC, this is Disney. Before Bob Iger says, hey, we gotta figure something out here. Or a Fallon continued the way he's going before they replace. Rob, how long have either one of them been going? How long has Kimmel been going? What is his tenure? How long has Kimmel been going and how long has, um, late night? Is it, is it, oh, oh my God, Kimmel's been going for 21 years.

• 1:35:03Adam Sosnick?

  Oh, God.

• 1:35:04Patrick Bet-David?

  By the way, so here's what I want to know. How long has Fallon been going? If you can just ask the same question and just say Fallon instead of Kimmel.

• 1:35:11Adam Sosnick?

  Maybe 10, maybe 10. 15? My guess.

• 1:35:15Patrick Bet-David?

  So Kimmel is 21.

• 1:35:17Adam Sosnick?

  Yeah, 10 years.

• 1:35:18Patrick Bet-David?

  Fallon is 10 years. Okay, can you do me a favor and go look at how long Letterman went? And how long Leno went? How long did Leno go?

• 1:35:27Adam Sosnick?

  30 years. No, not.

• 1:35:29Patrick Bet-David?

  I don't think so.

• 1:35:29Adam Sosnick?

  I'm guessing almost 20, almost 20.

• 1:35:31Patrick Bet-David?

  22 years. So Letterman went 22 years and how long did Leno go?

• 1:35:36Adam Sosnick?

  I think just as long, if not longer.

• 1:35:37Patrick Bet-David?

  Leno and Letterman, what's the number? Leno went how long?

• 1:35:41Adam Sosnick?

  I'm taking the over on Leno.

• 1:35:42Patrick Bet-David?

  You're gonna say he did longer? Rob, do you see it?

• 1:35:44Tom Ellsworth?

  92 to 2009.

• 1:35:46Patrick Bet-David?

  17 years.

• 1:35:46Tom Ellsworth?

  And then he came back and re-hosted again from 2010 to 2014.

• 1:35:49Patrick Bet-David?

  Okay, so let's say 21 years. So guess what? It's time.

• 1:35:52Adam Sosnick?

  Yeah.

• 1:35:53Patrick Bet-David?

  It's time for Kimmel to move on. If Letterman did 22 years, if Leno did 21 years, I actually like Conan O'Brien, to be honest with you.

• 1:36:02Adam Sosnick?

  I loved him.

• 1:36:02Patrick Bet-David?

  He was awesome, right?

• 1:36:03Adam Sosnick?

  Yeah.

• 1:36:04Patrick Bet-David?

  He was awesome.

• 1:36:05Adam Sosnick?

  He was great.

• 1:36:05Patrick Bet-David?

  I think there seems to be a pattern. The pattern becomes, you start thinking you're a bigger deal than you really are and you get a sense of bitterness. Kimmel sounds bitter and you can't have that on late night. The entertainment I want late night is, I don't even want to think about politics. I just want to, when I used to watch it, I just want to relax. Maybe it's time for them to say, Kimmel, great job giving 21 years. You got the same amount of years as Leno, you got one year less than Letterman. It's time to move on and get somebody else. Tom, your thoughts?

• 1:36:37Tom Ellsworth?

  Well.

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• 1:37:39Tom Ellsworth?

  Words talk, numbers scream. Let's talk about the demo. What is the demo that they want for late night? Buying products?

• 1:37:45Adam Sosnick?

  Late night, I want to say 35 to 55.

• 1:37:50Tom Ellsworth?

  18 to 30 is the critical demo.

• 1:37:52Adam Sosnick?

  That young group is watching late night?

• 1:37:55Tom Ellsworth?

  Oh, yeah.

• 1:37:55Adam Sosnick?

  Oh, no, I thought older people were watching.

• 1:37:57Tom Ellsworth?

  They're watching on streaming the next morning and stuff. But I'm gonna take you to something. Letterman was 66 when he was forced to retire, and the last seven years were not good ratings. So from 60 to 66, his ratings weren't good. How old is Stephen Colbert?

• 1:38:15Adam Sosnick?

  50-something?

• 1:38:16Tom Ellsworth?

  60.

• 1:38:16Adam Sosnick?

  Oh.

• 1:38:17Tom Ellsworth?

  How old is Conan?

• 1:38:18Patrick Bet-David?

  He looks good for 60, to be honest with you.

• 1:38:19Adam Sosnick?

  Yes, yeah.

• 1:38:20Tom Ellsworth?

  Conan is 61.

• 1:38:21Adam Sosnick?

  Is he really?

• 1:38:22Tom Ellsworth?

  How old is Kimmel? He's about to turn 58. How old is Fallon?

• 1:38:28Adam Sosnick?

  Fallon's younger.

• 1:38:29Tom Ellsworth?

  He's about to turn 51.

• 1:38:30Adam Sosnick?

  Yeah.

• 1:38:31Tom Ellsworth?

  These guys, not only, to Pat's point, he's exactly correct. Not only have they had their 20-year rung like a TV show tends to have, and a host tends to have, they are aging out of the age that in 18... Hell, let's skip forward and do 24 to 40. They're aging out of an 18 to 30 demo or a 24 to 40 demo. Those, right, 18 to 30, that's 12 years. 24 to 40, that's 16 years. They're aging out. They're not identifying with those groups. And guess what happens? What word was associated with Letterman during his last four years? I saw it over and over and over. He had become a...

• 1:39:13Patrick Bet-David?

  Angry?

• 1:39:14Tom Ellsworth?

  Bitter, angry guy.

• 1:39:16Patrick Bet-David?

  Grumpy dude.

• 1:39:16Tom Ellsworth?

  And he used to talk, he did an interview with Obama that was okay. Then he was very critical and very cynical and he got really bitter and angry.

• 1:39:26Patrick Bet-David?

  Yeah, that's what Kimmel feels like.

• 1:39:27Tom Ellsworth?

  And so guess what? Guess what? It's normal. We're seeing history repeat itself in the natural life cycle of these celebrities who are all aging out of the demo. It's time to go.

• 1:39:40Adam Sosnick?

  Well, look, um, we've talked about this before, uh, as far as what the number one late night TV show is, late night comedy. Gutfeld. And it's Greg Gutfeld and no disrespect, not a comedian, not funny, no jokes, uses a clipboard, no celebrities, no car karaoke.

• 1:40:01Patrick Bet-David?

  Can I tell you something about him?

• 1:40:02Adam Sosnick?

  No band, no nothing.

• 1:40:03Patrick Bet-David?

  Super likable, super trusting. Super likable, super trusting.

• 1:40:09Adam Sosnick?

  Sure.

• 1:40:09Patrick Bet-David?

  You can say what you want with him. What the market is telling you is they'll take likable and trusting over arrogant, pompous, entitled arrogant pricks.

• 1:40:18Adam Sosnick?

  Yeah, I agree with you. I just see it a different way.

• 1:40:21Patrick Bet-David?

  Even if that person's more talented.

• 1:40:22Adam Sosnick?

  No, I just see it as a blue ocean strategy. You have three guys on ABC, NBC, CBS that are just cannibalizing 50% of America. When Greg Gutfeld says, okay, I'll take the other 50%. So they're all just divvying up 1.2 million, 1.4 million, 2.5, this guy's got 5 million. Great, boom. He just says Cyrus to Tyrus, he's got cat timp, these aren't. He doesn't have Justin Bieber, he doesn't have Kim Kardashian. He's just the one guy on the right where you have three guys that are doing it on the left. But there's more to it because we're talking about late night, what's the third word?

• 1:41:00Adam Sosnick?

  Comedy.

• 1:41:00Patrick Bet-David?

  Yeah.

• 1:41:01Adam Sosnick?

  Late night comedy. I was just in New York and I went to the stand, right? That's where our friend Marcelo, uh, used to perform. Out of nowhere, hey, please welcome to the stage Louis CK. The audience is like, what?

• 1:41:14Patrick Bet-David?

  Yeah.

• 1:41:15Adam Sosnick?

  Louis CK's here? Amazing. The headliner was a guy called Aaron Berg. Incredible. What's the key to comedy though, Vinnie, you know? Not being obvious, didn't see it coming. Why is Andrew Schultz so good? He does that whole joke about, you know, ladies free the nipple. Uh, I wanna, I wanna work too. He's like, are you guys feminists or F-boys, right? It's just an amazing joke. But when you, when you have misdirection and you take risks and people don't see it coming and you just do callbacks, that's where growth come. Oh my God, didn't see it coming. These guys, everything is obvious, everything is canned. PBD, what was the number you said that they said about Trump? 98. 98? You see it coming. It's a one-sided obvious agenda.

• 1:42:00Adam Sosnick?

  So nobody's gonna find it funny. So they're just cannibalizing each other's audience. By the way, don't look now. I'd like to see what the numbers look like for The Daily Show now that Jon Stewart is back. Chris Trevor Noah, who hosted for basically, what, eight years, was atrocious. Oh, he's, he's very unfunny. It was, it was the epitome of a comedy D E I hire. Straight up. A guy from South Africa that's never lived in America before, come anything on American politics, just reading scripts, sorry, brah. Didn't work. Not funny. Jon Stewart at least funny.

• 1:42:31Patrick Bet-David?

  I also don't think Jon Stewart's the guy. If I'm running ABC, if I'm running NBC and I have the kind of money that they have, I'm going a very different direction. I just am. I'm going a different direction. I'm not going to any of these guys right now. Okay? I'm going to a very different place, strategy. I gotta, I gotta take a bit of a risk. But you have to also realize that, you know, to have something like this go on the way it is, you have to catch yourself. Because what you don't realize happens to everybody when you're creating content or

• 1:43:11Patrick Bet-David?

  when you, when you have success or fame or money or flattery. You know what ends up happening? The, the most dangerous thing that happens, and by the way, nobody is free from this. The most noble man on earth isn't free from this. The more people tell you how amazing you are, the longer it goes. The more you start believing, you know, your shit don't stink. And then you talk to the audience where you're talking at them. Instead, you were speaking with them. You were having a cup of coffee with them. Now you're preaching. Now you're annoying. Now you're bitter.

• 1:43:54Patrick Bet-David?

  Everybody is tempted to fall for this. Everybody.

• 1:44:00Adam Sosnick?

  It's like Obama lecturing the black people.

• 1:44:02Patrick Bet-David?

  Nobody is free from this. There's not a single person that's free of this. Look at Trump 2016, look at Trump 2020. And then look at Trump 2024. Credit to Trump goes to what? Individually, him by himself. Hey, 2024, I sounded bitter and angry. Yes, they, yes, they did. 2020.

• 1:44:22Adam Sosnick?

  Yeah.

• 1:44:22Patrick Bet-David?

  Watch why he's like, are you kidding me? Jimmy Carter passes away, right?

• 1:44:26Adam Sosnick?

  Yeah.

• 1:44:26Patrick Bet-David?

  May he rest in peace. Nice guy, terrible president. And Vinnie, this one is actually true, right? This is not like he's gonna get community.

• 1:44:34Adam Sosnick?

  He's actually, I'm not gonna get community.

• 1:44:35Patrick Bet-David?

  He's actually no longer with us. He made it to 100 years old, right? Jimmy Carter. And for me, I'm here because of him. This is a post by Eli David, Rob, if you can click on that and post it, it's got, zoom in. That's Iran before Carter. That's Iran after Carter. He comes in December 31st, 1977. Has a toast with the Shah, saying Iran is a legacy, an island of stability. The word he uses. Leaves, literally when he leaves, the revolution starts.

• 1:45:09Adam Sosnick?

  Weird.

• 1:45:10Patrick Bet-David?

  And what has happened to Iran since 79? You tell me. How are the chaos? What's the quote that the Shah said? Here's Shah's quote during that time on what he said's gonna happen to Iran. Rob, I don't know if you have it or not, there's a, there's a quote by the Shah. He said, "If I leave, Iran will go down. If Iran goes down, Middle East will go down. If Middle East goes down, the world will suffer." He said this in 78. Okay?

• 1:45:36Adam Sosnick?

  He was right.

• 1:45:37Patrick Bet-David?

  He said this in 78, that magazine I have, by the way. Can you zoom in a little bit on the dates of that magazine, Rob? Is that 78 or 76?

• 1:45:43Adam Sosnick?

  September 19th, 1978.

• 1:45:46Patrick Bet-David?

  That's exactly four weeks before I was born.

• 1:45:48Adam Sosnick?

  Wow.

• 1:45:49Patrick Bet-David?

  Okay? Four weeks before I was born and a boom. He, he leaves January of 20, I'm sorry, 1979. And then what's happened to Iran since then? Shambles.

• 1:46:01Patrick Bet-David?

  So part of this policies of what he did wrecked a lot of what's going on in Middle East. People can take it back to him and Kissinger. They can go back to that and put some of the blame, maybe a lot of the blame on him. Okay. Having said that, if there was anybody that could say what he wanted to say about Carter, what does Trump say? Can you pull up Trump's tweet about Carter? And this is what you gotta see on. You tell me if you sense any bitterness from this tweet. I just heard of the news about the passing of Jimmy Carter, President Jimmy Carter. Those of us who have been fortunate to have served as presidents understand this is a very exclusive club. And only we can relate to the enormous responsibility of leading the greatest nation in history. Beautiful. The challenges Jimmy faced as president.

• 1:46:47Patrick Bet-David?

  Came at a pivotal time for our country and he did everything in his power to improve the lives of all Americans. For that, we all owe him a debt of gratitude. Melania and I are thinking warmly of the Carter family and their loved ones during this difficult time. We urge everyone to keep them in their hearts and prayers. Are you kidding me? Phenomenal.

• 1:47:06Adam Sosnick?

  Oh, sweet.

• 1:47:07Patrick Bet-David?

  You know, if phenomenal.

• 1:47:08Adam Sosnick?

  What is the likelihood that the mainstream media was actually gonna post that tweet?

• 1:47:11Patrick Bet-David?

  But, but, but the point I'm trying to make to you is, this is the part. That if Trump can adjust at 78 years old. And these other young guys compared to Trump, they're in their 50s. And 60, 61 years old. They're bitter every night, you're not attractive. The market is not interested. You won't get the votes, people will leave you. And I think it's time for Kimmel to step aside. And give that show to somebody else that can come and go on their own 10, 15, 20 year run. Cause that time is here. Anyways, let's go to the next story here. Tom. I'm going to the stories about US credit card defaults. Jumped to the highest level since 2010. That's 14 years ago, folks.

• 1:47:56Patrick Bet-David?

  Credit cards, a lot of people are dealing with this right now. And it's a very challenging place to be. I remember when I was $49,000 in credit card debt. It feels like you're suffocating when you're in it. Credit card defaults in U.S., highest level since 2010 with $46 billion in seriously delinquent loan balance written off in the first nine months of 2024, a 50% increase from the previous year, according to Bank Reg data. Mark Zandia Moody's Analytics highlighted the financial strain on lower-income consumers, stating, "High-income households are fine, but the bottom third of U.S. consumers are tapped out. Their savings rate right now is zero. Rising credit card balances and interest costs have worsened financial stress, with

• 1:48:41Patrick Bet-David?

  Americans paying $170 billion in interest over the last 12 months. $170 billion just in interest last 12 months. Credit card balances exceeding $1 trillion for the first time in mid-2023, fueled by post-pandemic spending and inflationary pressures. Consumer spending power has been diminished, says Odessa Pampi-Dimitro of Wallet Hop, as delinquency rates remain nearly a percentage point higher than pre-pandemic levels, pointing to more pain ahead. Credit card charge-offs and delinquencies at a 13-year-high. Another story right behind it. Tom, your thoughts on this year?

• 1:49:17Tom Ellsworth?

  Well, we've been talking about this, remember? A year ago, we said that the one that the credit cards had gone way down with stimulus checks and a lack of spending because you couldn't go out outside. You weren't going outside, you weren't traveling, you weren't going to restaurants. So discretionary spending on those sorts of things, travel, amusement parks, movies, outdoor leisure, and, you know, going out to eat were off. So people weren't spending on that. And they got stimulus checks. Remember, the credit card balance went down to like $500 billion, I think it was. But then, all of a sudden, all of a sudden, it was time to go back out and play. And what did we do? We ran those credit cards up.

• 1:50:02Tom Ellsworth?

  And it was earlier this year that we covered on this podcast, when the mainstream media wouldn't talk about it because they didn't want to say anything embarrassing to the Biden administration, where credit cards went to a trillion dollars. And we called it. And we said, you know, in elections... Year if this inflation doesn't get under control, if it doesn't get down to 2% like Jerome Powell. By the way, 2% inflation is still inflation. It's not zero. It just means it gets back down to a more, you know, a much lower rate per year. So what have, what's been happening? People have been feeling kind of good. They've been going out. They've been doing things, but the cost of stuff is still up. And we're still seeing about restaurants closing. Why? And we're seeing about McDonald's struggling and did the TGI Fridays.

• 1:50:45Tom Ellsworth?

  Yeah, yeah. TGI Fridays is, is closed. So guess what? TGI Fridays lives in the middle. Fast casual, they call it, like Applebee's, TGI Fridays, Chili's, things like that. You go in and you sit down and bankrupt. So what we've got right now, however, the bank stocks seem to be okay. Really? Why would the bank stocks be okay? Do you know how much interest Americans paid over the last 12 months? How much? On credit cards? $170 billion in interest at, at an excess of 25%. That's the interest rate on credit cards they pay in the last 12 months and it's going down, which means this is the opportunity for Trump and one of the big areas you got to get the cost down for people is on energy.

• 1:51:30Tom Ellsworth?

  You bring cost of gas down, you can actually anti-inflate gasoline and energy and heating oil. And also those costs come out of getting all those goods shipped to your grocery store. Maybe we'll see a little bit of ebbing and price at the grocery store. But right now, the US consumer, the bottom third of the US consumers are in a tougher place than they were at the beginning of COVID. They actually got savings relief during

• 1:52:00Patrick Bet-David?

  So let me ask you this question, Tom. If you look at this chart, Rob, you had the other one as well, but let's stay on this one real quick. US credit card write-offs jump 2010.

• 1:52:09Tom Ellsworth?

  Yep.

• 1:52:09Patrick Bet-David?

  That's after 08, market crash, Obama, 2010.

• 1:52:12Tom Ellsworth?

  Yep.

• 1:52:13Patrick Bet-David?

  Spikes. 2024.

• 1:52:15Tom Ellsworth?

  Crash of spikes. People spent, then they defaulted.

• 1:52:17Patrick Bet-David?

  So what I'm trying to ask you is, if I look at this chart. Is 2024 2010? Or is 2025 going to be 2010?

• 1:52:27Tom Ellsworth?

  I think 2024 is 2008, 9, and 2025 is gonna be 2010. Because...

• 1:52:34Patrick Bet-David?

  So, so let me get this straight. What you just said right there, Rob, go to the other one. It's very important.

• 1:52:38Tom Ellsworth?

  I think we're...

• 1:52:39Patrick Bet-David?

  What you just said. So if you go here, I'm asking you if 2024 is 2010, meaning?

• 1:52:44Tom Ellsworth?

  No.

• 1:52:45Patrick Bet-David?

  Are we at the peak or is next year's numbers on loan write-offs gonna go skyrocketing even higher than 2024?

• 1:52:54Tom Ellsworth?

  No, we're, we're the year before 2010.

• 1:52:56Patrick Bet-David?

  Okay, I got you.

• 1:52:57Tom Ellsworth?

  I'm calling peak next year, because remember, Trump does...

• 1:53:00Patrick Bet-David?

  I'm kinda with you, because if you think about the timeline of COVID and what happened with Biden and the economy last 48 months.

• 1:53:10Tom Ellsworth?

  Yep. So, and by the way, let's look at the impact. The world is starving. I gotta grow corn. How long does it take to grow corn? That's what you would look into, right? How long does it take to grow wheat so you can ship bulk? Well, guess what? Trump's not, Trump will be inaugurated on January 20th. Then they won't clear all those cabinet picks for another four or five weeks. Now the cabinet picks, especially Treasury and Commerce, are in place. Then they put their programs out. Congress has gotta debate it. You're probably talking the middle of Q2, getting into May, June, before, you know what I mean, Pat? Before the corn grows, meaning all of the programs from the new cabinet can start having a dramatic impact on, on the US worker.

• 1:53:54Tom Ellsworth?

  So what we're seeing here, this is a leading indicator of more pain to come on credit card delinquencies. Um, and we are about to find out, how much did they spend? If you hear that there's a lot of spending, uh, in Q4, then it's there. And by the way, guess what we've left out here? We were screaming about it and talking about it because it gets left out of the stats. What is it? Four letters. Begins with a B, remember?

• 1:54:21Adam Sosnick?

  I know, pay later, Tom.

• 1:54:22Tom Ellsworth?

  Bingo!

• 1:54:23Adam Sosnick?

  Yep.

• 1:54:23Tom Ellsworth?

  BNPL is hitting, sitting below the water like a bigger iceberg with consumers having a lot of BNPL on top of the credit card stuff. I think 25's gonna be our spike, but I think Trump's gonna put a lot of things in place with this cabinet to get after it.

• 1:54:38Adam Sosnick?

  Did you ever read the, uh, the book Tale of Two Cities?

• 1:54:43Tom Ellsworth?

  It was the best of times.

• 1:54:44Adam Sosnick?

  It was the best of times. It was the worst of times.

• 1:54:46Tom Ellsworth?

  There's a season of discontent.

• 1:54:47Adam Sosnick?

  That's what's going on in America today. So what's happening is just as people are struggling, inflation, interest rates, we see what's going on in the economy. It's the economy, stupid. Credit card debt, delinquencies hit 13 year high. Juxtapose that with Rob Wood I sent you. If you're an investor, if you're playing the Wall Street game versus the Main Street game, the stock market is on pace to have the best two year run in the last 25 years. Rob, if you want to use the title of that article. Stocks on pace for the best two years. So if you're, if you're holding assets, if you own real estate, if you own stocks, your 401K, your index fund, your crypto account, your Bitcoin just hit 100,000.

• 1:55:32Adam Sosnick?

  We know what's going on with that. So people are getting richer and the poor are getting poorer. Pat, we, we learned a term during COVID called the K shaped economy. You did a whole thing about money flows to where? The top. So people get richer during COVID because people got stimulus checks. Where did they all do with their stimulus checks? Who quickly became the richest man in the world during COVID? Do you remember his name? It wasn't Elon Musk.

• 1:55:58Patrick Bet-David?

  Renault.

• 1:55:58Adam Sosnick?

  It wasn't Jeff Bezos. Exactly. It was Bernard Renault. Who's Bernard Renault? He owns a company called LVMH. Louis Vuitton, Moet Hennessy. Everyone got them stimmy checks and balled till they fall at the mall. And now, two years later, they're drowning in credit card debt. The average American, two thirds of Americans are living paycheck to paycheck. The average credit card debt is $7,000 per consumer. The average interest rate is 24%. People are struggling, but only half of the people are struggling. It's the haves versus the have nots. Half the people are getting richer and half the people are getting poorer. And just flip a coin depending on where you're at. So it's not easy out there.

• 1:56:38Patrick Bet-David?

  Well, listen, it's, it's the last day of the year. Next podcast, I'm going to give you what I'm calling 2025. The year of, I'm going to give you that on Thursday's PBD podcast that we'll have here. But it's the last year, day of the year. This is my business plan. Okay, I just want to show you. This is mine. Okay.

• 1:56:59Patrick Bet-David?

  It always starts with a statement. Then after the statement, it goes to what predictions was made for 2024? What became a reality? Biggest decisions made? Biggest victories? Setbacks? Affirmations? Areas of improvement? Then it goes to big projects working on in 2025. Then it's trust God who created you into who you are. It's the affirmations on, uh, uh. Then it goes family. Big part of it is my wife and I. Then it's my oldest son. I, uh, plans on how I want to work with him this year. Areas I want to help him out. Then my second son, the other day, he posted a video. Finally, he performed such a proud moment as a father watching this guy.

• 1:57:40Patrick Bet-David?

  Because my dad and Vinnie know this guy can sing and they're trying to encourage him. He finally got comfortable. Rob, I don't know if you can go on Instagram.

• 1:57:48Adam Sosnick?

  Yeah, go on, uh, Dylan. He's like the voice of an angel.

• 1:57:50Patrick Bet-David?

  It was so cool.

• 1:57:51Adam Sosnick?

  What was he dressed up as? It's a Christmas.

• 1:57:54Patrick Bet-David?

  It's a Christmas thing that he was doing. Rob, I don't know if that's the one or not. If you, if Mike. You gotta go to his.

• 1:57:59Adam Sosnick?

  It was on your stories.

• 1:58:00Patrick Bet-David?

  It's been David Dillon. But I wrote it down for Dylan. Then my daughter, Brooklyn, uh, my family, dad, mom. Then high identity relationships that I wanted to grow in 2024. It's amazing how many names became a reality. What I want to do into 2025. Friends, relationship mentors, vision, everything. Business, dreams, you know, grand slams, enemies, code. All of this stuff that's here, right? For some of you, is this it? Robert, can you play this? Go ahead, Rob.

• 1:58:33Adam Sosnick?

  First time live in front of everybody.

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• 1:59:53Patrick Bet-David?

  That's our Billy boy. Oh my.

• 1:59:54Adam Sosnick?

  So this weekend, he dominated his soccer tournament, practice?

• 2:00:00Patrick Bet-David?

  He went to practice.

• 2:00:00Adam Sosnick?

  It was a practice, but he said, and then he did the singing thing. So the kid's a trifecta.

• 2:00:04Patrick Bet-David?

  Well, listen, let me just say this part. Let me just say this part. The only point I'm trying to make to you folks.

• 2:00:12Patrick Bet-David?

  2002.

• 2:00:17Patrick Bet-David?

  December 31st.

• 2:00:20Patrick Bet-David?

  I'm in Universal Studios, CityWalk. My friend and I go get an In-N-Out Burger. And we got water with lemon and Sweet'n Low. That's how you make cheap lemonade. We're in the car, we're both 200 pounds, so we can both eat. We're both 220 plus. Cut it in half, I take a bite, he takes a bite. Ryan Seacrest is doing the countdown. While he's doing the countdown, 10, 9, 8, 7, 6, 5, 4, 3, 2, 1, there is no excitement at all. It's 12:01, car's parked like this. Do we go to Saddle Ranch or do we not go to Saddle Ranch? That's what we're debating.

• 2:01:00Adam Sosnick?

  Which is the bar in LA.

• 2:01:01Patrick Bet-David?

  Which is the bar, to go and do all that stuff. So we're there. And I'm thinking to myself, there is nothing to look forward to about 2003. Nothing. I have nothing to look forward to. We go walk around, get back in the car. I said, I'm going home. Go back home, go to the office first thing in the morning. Dropped so many habits. Told my friends, I'm not going to the clubs anymore. I'm not going to party anymore. I was done. And the obsession became about creating new habits. I was in so much debt. I was in a relationship I couldn't afford to take the girl out to frickin' McDonald's. That's how broke I was. I had no money. So we'd go to Blockbuster to come at home, watch movies, because I don't have money

• 2:01:47Patrick Bet-David?

  to go to the movies. Costs 40 bucks every time we go out.

• 2:01:51Patrick Bet-David?

  This is your moment for you. Tonight, yesterday, I went late at night to Barnes and Noble. We're the last guys at Barnes and Noble. We bought 50 magazines. I bought the Michael stuff and all the, uh, who, the, the, what do you call it? The stick on all the stuff. I'm invited to a nice party tonight, New Year's Eve. It's a party that's a $100,000 ticket party by a guy that you guys know that I'm invited to the party. Tom knows what party it is. We talked about it. I'm not going to the party. I told the guys, listen, thank you for the invitation. I appreciate you. We do our annual vision board with the kids. Trust me, I'd like to go there because I want to be around some of those guys. But there's nobody I want to be more around than my four little ones and my family tonight to write out the vision board for 2025.

• 2:02:33Patrick Bet-David?

  There's something very exciting when you sit there and change habits and you work on yourself and the people around you. You improve. Everybody is the beneficiary of you making better choices for yourself. And all these conversations we're having, homelessness, debt, politics, division, divisiveness, who we see as villains, who we demonize, spirit of envy can destroy you. Because if you can't celebrate other people's successes, deep down inside, you're envious of it, it can't happen for you. Envy just shuts down the dream machine for you. If you're upset about somebody else winning, like when any of the guys we compete with,

• 2:03:17Patrick Bet-David?

  they get a big contract, I'm so happy for them. I'm like freaking awesome. It's exciting. You gotta celebrate it. But these are things that we gotta change the way we're wired if we want life to change. And I hope you make that decision tonight. And I hope you make that decision with what you do tonight. Maybe instead of going out there, acting a fool tonight, like many of us used to 20 some years ago, maybe tonight, some of you guys are gonna have your universal city walk moment. And for some of you, money's not the issue. You just gotta work on being a better father, better husband, better man. Maybe for you, it's just about you don't have a wife, you don't have a husband, you want to build a family. Where are you looking for them? Where are you at? Who are you talking to? What things are you doing? The best service we used to go to every year was Christmas Eve.

• 2:04:02Patrick Bet-David?

  No service like it.

• 2:04:05Patrick Bet-David?

  So, maybe some of these stories we're discussing could be your form of inspiration to say, "Man, I'm so sick and tired of being in credit card debt." Why are you? Let's go through it. How can I improve myself? Make that decision. Because, one thing's for sure with my life, you're one decision away from changing, literally, you are one decision away from changing, it's a decision away. You're one decision away from changing your life. And for those of you that are crazy enough to watch us on New Year's Day, like, not New Year's Day, what is this?

• 2:04:37Adam Sosnick?

  New Year's Eve.

• 2:04:38Patrick Bet-David?

  New Year's Eve, it's not Eve, but December 31st? You have some issues, but you have good issues.

• 2:04:43Adam Sosnick?

  The good issue, yeah.

• 2:04:44Patrick Bet-David?

  You have the good types of issues. But anyways, that would be my feedback to you. What story have we not covered before we wrap up? Give me one last story to do before we wrap up. Do we want to go to LeBron James? Do we want to go to human brain? Do we want to go to video games? The reason for video games, you know, the games? Do we want to go to that?

• 2:05:02Adam Sosnick?

  What's the story with LeBron?

• 2:05:03Patrick Bet-David?

  Let's go to LeBron James. Alright, well LeBron, happy birthday to you, man, you're 40 today. LeBron James trolled for saying Christmas belongs to the NBA, and NFL viewership is revealed. Rob, is this him saying that? Go ahead and play the clip, Rob.

• 2:05:16Adam Sosnick?

  Uh, I love the NFL, I love the NFL, but Christmas is our day.

• 2:05:23Adam Sosnick?

  Really?

• 2:05:24Patrick Bet-David?

  Yeah, well, by the way, he really does love the NFL. This guy was a great wide receiver in high school. You look at his highlight reel, the guy was freaking insane. He could have probably played. I think at one point Jerry Jones was joking with him about coming and playing for the Cowboys, and there's a bunch of images of him wearing the Cowboys jersey. However, you can say Christmas is your day, but let's see what data says LeBron. He declared the Laker-Warrior game on Christmas night between Curry and him drew 7.7 million viewers and peaked at 8.3 million. The NBA had its best holiday ratings in five years, averaging 5.2 million viewers, with the other games going on as well. Despite LeBron's claim, do you want to know how many people watch the NFL? Let me give you the number here.

• 2:06:09Patrick Bet-David?

  The average NFL, NBA game got 5.2 million views. The average NFL game got 24.2 million views on Netflix. Even as both were blowouts, not good games, they were terrible games. The NFL's aggressive holiday schedule and includes game on five separate days during week seventeen, a stark contrast to league's previous avoidance on Christmas. And that's the NFL product for you. Okay, Tom, when you see numbers like this, you see the direction Netflix is going. You see the direction Amazon is going. You see the direction NBA is going, MLB is going. What do you see happening right now with the product of NBA, NFL and MLB?

• 2:06:49Tom Ellsworth?

  Well, first thing I'd like to speak to LeBron James. LeBron James, you said there's a lot of trays being shot, right? There's a lot of threes being shot. Well, you had 7.7 million views on Christmas. The NFL averaged 24.2 million. That's 3.1. The NFL shot a three on you, dude, on Christmas Day. Open the package and weep. But I'll tell you what's going on. The NFL is a better product. And if you put a better product on and there's more demand for the product. Who's demanding it? Netflix, they bid for a couple of games on Christmas. Amazon bid for games. You know, YouTube TV, which is not doing particularly well, but they paid for the NFL Sunday ticket.

• 2:07:33Tom Ellsworth?

  So the NFL is doing a very good job of putting their product. It's on Monday. Remember it was just Monday Night Football? Then it became Sunday Night Football? Then it became Thursday Night Football? Now we even have some games dropping in on Saturdays as college football has kind of gone into its bowl season and they're not all day, every moment, college football games. The NFL is a better product. The networks are bidding for it. And thanks to a lot of issues that I won't get into because we've covered it on this podcast, the NBA just had a very good Christmas compared to past Christmases, but they are a triple behind the NFL.

• 2:08:09Patrick Bet-David?

  Adam?

• 2:08:10Adam Sosnick?

  Yeah.

• 2:08:11Patrick Bet-David?

  I don't know what you're gonna say after Tom's rant there to LeBron.

• 2:08:16Adam Sosnick?

  Tom just shot a step back three in LeBron's face. He went there. Look, we've had our issues with LeBron, especially politically on this podcast. We know where he stands, but I'm not gonna use this to pile on LeBron. When all is said and done, when he retires and however many years, he's gonna go down as the second greatest basketball player of all time. He's 40 years old and he's still playing strong. He won a championship, what, a couple of years ago? Against Miami Heat, he won the in-season championship last year. He's gonna be the all-time leading scorer in NBA history. He is. He's

• 2:08:49Patrick Bet-David?

  Thanks to Ron DeSantis, by the way.

• 2:08:51Adam Sosnick?

  That's true. Yep. At the bubble you're talking about.

• 2:08:54Patrick Bet-David?

  In the great state of Florida.

• 2:08:56Adam Sosnick?

  That's true.

• 2:08:58Patrick Bet-David?

  They couldn't play in California.

• 2:08:59Adam Sosnick?

  Correct.

• 2:09:00Patrick Bet-David?

  They couldn't play in New York.

• 2:09:01Adam Sosnick?

  Yeah.

• 2:09:01Patrick Bet-David?

  They couldn't play in Illinois, but the great governor Ron DeSantis created a community and a platform where the NBA, who was super-left BLM everywhere, said you can come and host your playoffs in Florida. Gotta love that. Isn't that great?

• 2:09:20Adam Sosnick?

  What a great governor.

• 2:09:20Patrick Bet-David?

  Isn't that great? Good for you. You had 50 choices for states and you chose the state that got the most criticism during COVID because that was the only state you could have your NBA playoffs. I don't know if that's a full-on championship. I think that has an asterisk.

• 2:09:34Tom Ellsworth?

  One sentence after that, one sentence after that. And because you did, the NFL, the NBA Players Association agreed with the league that you would get contracts paid during COVID. So Ron DeSantis got you paid during COVID.

• 2:09:45Patrick Bet-David?

  That's right.

• 2:09:46Adam Sosnick?

  Respectfully, I don't care about that. I do understand that was one season. I get it. But the guy's been playing for 20-plus seasons. He came in when he was 18 years old. I get it. Again, I'm gonna use this opportunity to congratulate the guy.

• 2:09:59Patrick Bet-David?

  To his retirement party?

• 2:10:00Adam Sosnick?

  Diddy party? No. Is this a new party?

• 2:10:02Patrick Bet-David?

  New York. It's okay. We'll support you.

• 2:10:05Adam Sosnick?

  No party like an Adam party. You guys, you guys as parents, family men, I'm sure at least you respect the fact that he's a married man, kids, first player in NBA history where his son is on the team with him.

• 2:10:23Patrick Bet-David?

  You gotta give him props. There's no question.

• 2:10:23Adam Sosnick?

  You gotta give him a little props for that, bro. For his 40th birthday, they had players all around the league wish him happy 40th. I mean, are you kidding me? Are you kidding me? Imagine you and Dylan on the soccer field together. Or you and Dylan singing a duet.

• 2:10:40Patrick Bet-David?

  I'm not that talented about it.

• 2:10:41Adam Sosnick?

  No, or even you and Dylan doing a podcast.

• 2:10:43Patrick Bet-David?

  We do in the car in New York, but he's singing. I'm just, I'm just loud.

• 2:10:47Adam Sosnick?

  I'm just saying, there's something special about that. You saw when Tiger Woods sun hit a hole in one.

• 2:10:52Patrick Bet-David?

  We get it, we get what you're doing here and telling us the resume, bro.

• 2:10:54Adam Sosnick?

  I love his resume. You know what, LeBron? You're a piece of shit.

• 2:10:57Patrick Bet-David?

  No, he's not.

• 2:10:58Adam Sosnick?

  You're a bad dude. You're not that good and you ain't nothing, boy.

• 2:11:01Patrick Bet-David?

  That's not what I'm saying.

• 2:11:01Adam Sosnick?

  What do you want me to say here?

• 2:11:02Patrick Bet-David?

  No, that's not what I'm saying.

• 2:11:03Adam Sosnick?

  I'm giving the dude his props. That's not what I'm saying either. I just said he was wrong when he said. I'm giving the dude his props.

• 2:11:07Patrick Bet-David?

  By the way, I, I agree with you. On my list, he's also second. Now, you know what a lot of people debate and they get upset when we say that? They said, you put him ahead of Kobe. Kobe's got five.

• 2:11:17Adam Sosnick?

  I do put him ahead of Kobe. He's better than Kobe.

• 2:11:20Patrick Bet-David?

  The biggest, the biggest dispute there is the field goal percentage. Because LeBron's field goal percentage and three point. He improved his game and evolved multiple times. Uh, but you know, the amount of eyeballs the NBA lost the last 12 years, 48%. Goes to the face of the league and the face of the league is LeBron James.

• 2:11:38Adam Sosnick?

  And thank, and great, great, like, I'm ready for the analogy, Tom? Just like how Kimmel and Colbert are spewing that BS and their numbers don't freaking lie? The same with LeBron, the same during Trump and BLM and all the rights. His divisive shitty attitude, I have to say it, was hurting freaking America. Talking about, you know, people should, like posting pictures of a cop that killed, um, that killed, what's her name during, during the house raid, whatever the hell it was called. That attitude, and you nailed it, to the face of the NBA, is one of the main factors that the numbers are down. Because people don't want to tune in to watch somebody that's, that's separating the country. Period. That's it. I stopped, I stopped and it was right before, I used to watch basketball. Zero, I haven't watched one second of one game. Period. And he's a big part of it.

• 2:12:23Patrick Bet-David?

  Perfect. We're watching a game tonight, me and you.

• 2:12:25Adam Sosnick?

  Are we really watching?

• 2:12:26Patrick Bet-David?

  Not at all. I have no interest. I have no interest. Anyways, gang, Adam, incredible breakdown of LeBron.

• 2:12:33Adam Sosnick?

  Guys, I'm sorry that I tried to give LeBron his props. He's gonna DM you tonight. I should have told that he's an absolute horrible person.

• 2:12:40Patrick Bet-David?

  No, no, your, your position is your position. But you know what Stephen A. said a year and a half ago, two years ago?

• 2:12:46Adam Sosnick?

  Stephen A. Smith believes firmly that MJ is the greatest player of all time.

• 2:12:49Patrick Bet-David?

  No, but you know what he said?

• 2:12:49Adam Sosnick?

  And I believe that.

• 2:12:50Patrick Bet-David?

  He says, "I am so sick and tired." Of every time I want to give a little bit of feedback about LeBron that I have to start by giving two minutes of his resume. Yes, he's a great father. Yes, he's a great man. Yes, he's a great this. Yes, but and then he goes into his point, right? And I feel like that's a continuous thing. But anyways, hey, gang, 2024 was our best year ever by a mile in every possible way. And a big part of that was because of you. And this is the last chance from all of us to tell you, thank you, all of us here. Uh, wherever we go, we were in Orlando and we went to Disney. So many people stopping by, talking, taking pictures, conversations,

• 2:13:30Patrick Bet-David?

  giving us advice like, hey, why don't you be a little bit nicer to this? Hey, you know, do this. And then sometimes I'm, listen, I'm all about, uh, Tom, I'm all about Vinnie. To me, I'm be, listen, Adam, I think Adam is great. Adam's this and we get all this feedback and conversations that we have to the crew back there that does a great job cutting clips. Uh, to Rob that does a phenomenal job here with us. Rob, you've done a great job in 2024. I'm proud of you, buddy. You're great. You're a big part of it. We appreciate you, the hard work you put into this. Guys in the back, you know who you are. Can you guys make some noise so they can hear you at least? Make some noise back there.

• 2:14:07Adam Sosnick?

  Yeah. They just woke up. Everybody just woke up. I think they're, they're watching the Lakers game. They're really pulling LeBron out there.

• 2:14:14Patrick Bet-David?

  To everybody, to everybody that makes this happen for us. This was a very, very special year for us. We're very grateful for you. We're thankful for you. We cannot wait for 2025. We got some big plans coming up for 2025. Have fun tonight.

• 2:14:30Patrick Bet-David?

  Make a couple decisions tonight, maybe a couple of big decisions tonight. That's going to be tough for you to make. So 2025 becomes the beginning of the greatest years of your life. Since we're not going to be with you tonight, Happy New Year. We will see you next year in 2025. God bless everybody. Take care. Bye bye.

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