Trump-Xi Summit + Iran’s $10 Trillion Threat | PBD #798

Patrick Bet-David, Tom Ellsworth, and Brandon Aceto are joined by Brad Lea as they cover President Trump’s arrival in China ahead of his Xi meeting, Iran’s massive internet choke point and ceasefire backlash, America’s housing imbalance, Gen Z working multiple jobs to survive, Mamdani’s NYC budget claims, and Kevin Hart’s media company layoffs. ------ 🦁 THE VAULT 2026: AUG 31ST TO SEPT 1ST: ⁠⁠https://bit.ly/4mZdLhD⁠⁠ https://bit.ly/4mZdLhD Ⓜ️ CONNECT ON MINNECT: ⁠⁠⁠⁠⁠⁠⁠⁠⁠https://bit.ly/4kSVkso ⁠⁠⁠⁠⁠⁠⁠ https://bit.ly/4kSVkso Ⓜ️ PBD PODCAST CIRCLES: ⁠⁠⁠⁠⁠⁠⁠https://bit.ly/4mAWQAP⁠⁠⁠⁠⁠⁠⁠ https://bit.ly/4mAWQAP 👔 BET-DAVID CONSULTING: ⁠⁠⁠⁠⁠⁠⁠https://bit.ly/4lzQph2 ⁠⁠⁠⁠⁠⁠⁠ https://bit.ly/4lzQph2 🥃 BOARDROOM CIGAR LOUNGE: ⁠⁠⁠⁠⁠⁠⁠https://bit.ly/4pzLEXj⁠⁠⁠⁠⁠⁠⁠ https://bit.ly/4pzLEXj 🇰 KALSHI: ⁠⁠⁠⁠⁠⁠⁠⁠http://kalshi.com/pbd⁠⁠⁠⁠⁠⁠⁠⁠ http://kalshi.com/pbd⁠ 💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time!

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

• 0:14Speaker 00

  My handshake is better than anything I ever signed, right here.

• 0:18Patrick Bet-David?

  You are a one of one?

• 0:19Speaker 00

  My sun drive, yeah. I don't think I've ever said this before.

• 0:27Patrick Bet-David?

  Alright, Business Wednesday. We decided to up the game a little bit with looks. We decided to bring Brad Lea with a great voice, who should have been in Hollywood. He should have been a big time actor. We should have been like looking at this guy at academies, but he chose to get into business. And he's made some money for himself. So Brad, it's great to have you on the podcast here today. Thank you. We got Tom and Brandon. The goal is to get smarter, folks. We got Rob and I here as well to facilitate. But some of the things that we're talking about, whatever you're doing right now, there's a group of people that are on the way to China to have a meeting there. And some of these guys are some of the most powerful capitalists in the world. A guy named Elon Musk you may recognize. Jensen Huang, who apparently they picked up somewhere with the Air Force One or something happened. You know, the fake news said he was not going. Then the president tweeted and said he is going.

• 1:13Patrick Bet-David?

  And so he's also going. Then you got Tim Cook. You got a bunch of guys. So we have to talk about what's going on there. Why is this such a big trip? Is this all the people getting off the plane, Rob? Yes, sir. Okay, so why is this such a big deal? What are the conversations gonna be happening? You know, a trillion dollar investment in the US, you know. What topics will happen with Iran? So we'll definitely cover that ourselves. Now, while this is happening, talk about timing. A lady named Eileen from Arcadia, California is a Chinese spy and she admitted to it. So if there's ever been a time to be the worst time to go to China, can you imagine Trump's like, hey, can you stop sending these spies to America? Like this is enough to Xi?

• 1:55Patrick Bet-David?

  And she's gonna be like, what are you talking about? Well, one of your girls just told us she's a spy and she's doing this. So that happened simultaneously just a day ago in the story of this girl from Arcadia, Mayor Eileen Wang, great name, who is dealing with being a Chinese spy herself. Then we got the story with eBay and GameStop we gotta get to because eBay finally said, listen, we don't want this offer, but you have to just see the exchange. We never reacted to it. We will. The president made a comment about economy. It's like, hey, what do you think about the people that are having a hard time with economy? And he says, uh, well, look, that's the last thing on my mind, or something like that. We'll play the clip. And, uh, uh, there's a lot of, uh, criticism on how that was answered. And another person said something about the ballroom. And he just looked at it and says, you're a dumb person.

• 2:40Patrick Bet-David?

  I mean, it's just, you know, he said, you are a dumb person. Can you imagine? That was actually, he said, that's not AI. The president said that. And, uh, maybe he's right, maybe he's wrong, but that is something that he ended up saying. Mumdani claims he balanced the budget. Look how great communism is. I'm gonna balance the budget in New York, but he's not telling the full story. Part of it has to do with Eric Adams, the guy before him. Part of it has to do that mommy from, uh, New York state sent $4 billion. I think she sent $8 billion. What's your allowance, by the way? Think about what your allowance was when you were a kid. There's this mayor in New York City whose allowance is $4 billion a year. And mommy bails him out because she wants to support his socialistic agenda. So we're gonna talk about that.

• 3:25Patrick Bet-David?

  The president told him, he says, why don't you be a little bit nicer to billionaires? Can you imagine what a weird thing to say? Be a little nicer to billionaires, Mumdani. He's not gonna be nicer. He's doing what he's doing. And while that's going on, a data came out showing there's more sellers than buyers in real estate. More sellers than buyers. In a typical market when there's more sellers than buyers, what happens to the price point? It goes down. But it's kinda not fully happening. We're gonna tell, you know, maybe the whole story. We'll get through it. While this is going on, another story came out about Grok. Grok is losing market share, apparently, according to the story. I think it's a Wall Street Journal story. But, uh, there's more to it. There's more to it that people are not talking about. We'll get into that as well. First thing in the morning today, CPI 3.8.

• 4:09Patrick Bet-David?

  And, uh, you know, inflation, you know, we'll, we'll talk about that. That was literally reported this morning. I saw that on CNBC time. I'm sure you got some thoughts on that. And then we have to play this AI graduation speech. This lady gets up on the stage. Her name is Gloria. And she's a VP of strategic thinking of this one company. Gets on stage and she's thinking the kids are gonna be all in her favor. And then she says something about AI. And you should hear the reaction of the graduating class. She looks around to be bailed out. And she somehow came back into it, but she lost the audience with making one comment about AI. Kids did not like that. And that leads to a story I got here with Gen Z. Gen Z's income stacking.

• 4:54Patrick Bet-David?

  These guys have to have multiple jobs to be able to pay their bills. And it's not a good thing. And I got some data to share with you when it comes down to that. And I know Tom does as well. And Brandon does as well. And then last but not least. This guy named Kevin Hart, who's kind of a big deal. Very funny, very talented. When he's in movies, it's just funny as hell. You gotta watch this guy. His business, his media company that at one point was valued at $600 million. Apparently is no longer valued at $600 million. There's some speculation about his phone number changed. And maybe this has happened in the past before. And so we'll talk about how to actually run the business and getting the team that wants to work with you. And run through the wall with you. So we will talk about that as well with Kevin Hart. So with that being said, before we get started.

• 5:39Patrick Bet-David?

  Um, couple of things I want you to be thinking about. You, you notice with everything that's going on with these guys visiting China. And who the president is picking up to take with him. Look at the way he thinks on the amount of power. He wants to bring to China to sit down in the negotiating table. Why would you bring Musk? Why would you bring Tim Cook? Why would you bring Jensen Huang? Why would you bring all these guys? Why would you take all these guys to go? Maybe this whole thing is about sequencing. And decision making that's gonna lead to the end of being what he can get with Iran. And hey, give and take, and he knows the leverage that he has. All of this comes down to one thing. And that is if you wanna win in life, you have to know your next five, 10, 15 moves.

• 6:24Patrick Bet-David?

  So once a year, we host a conference called the Vault Conference. I want you to watch this video. It'll give you a little bit details about them. We'd love to see you at the event. We do this every year. This is the Super Bowl. We're expecting 12,000 people this year at the Vault Conference. Go ahead, Rob. So the sequence in which decisions you make in life matter. Let me explain to what I mean by this. If you and I were to play chess, do you know how many first moves you can make playing chess? Only 20. You have 20 different ways of making a first move. You know the second move? 400 different type of moves. Third move is 5,362 different ways. But you know what your fourth move is? You have 319 billion different ways to make the first four moves in chess. So let alone life. So what does this mean? Do I start the business for it? Do I do I save the money?

• 7:09Patrick Bet-David?

  Do I get married and have the kids and travel? What? Everything is about sequencing. This is why at the Vault Conference, we talk about making your next five moves. Move number one, master knowing yourself. Move number two, the ability to reason and make better decisions. Number three, putting your team together. Number four, how to scale. Number five, power plays when it becomes nasty and competitive. So if you're somebody that wants to take your life and your business to the next level. Once a year, we host the conference called the Vault Conference. This year, we're doing it at MGM Grand Arena, Las Vegas. 12,000 people from 60-plus countries will be attending from August 31st to September 3rd. If you haven't yet registered, click on the link above or below. Get registered. I look forward to seeing you there. There you go. So Vault Conference, go to vault2026.com.

• 7:53Patrick Bet-David?

  Again, vault2026.com. Get your tickets. Come down to the event. It'll be some of the best. I believe we have the best business community in the world. I really believe that. And I'll tell you based on what? It's not just money. We talk money, values and principles, how to raise your family, faith, you know, raising your net worth. Everybody, you're in a room with 12,000 different people that look at life similarly to the way you do. So if you haven't yet registered, click on the link below. Go to vault2026.com, register. We look forward to seeing you there. Okay, with that being said, let's get right into it. China. So US, the president has a trip that was supposed to be in March.

• 8:33Patrick Bet-David?

  Gets postponed. Let's see what happens with Iran. He didn't have the cards at the time, or he didn't feel like there was a need to go there at the time. But this time when he's going to China, he goes stacked. Who does he take with him? He takes his power players. He takes the guy that is about to step down from Apple, but is running a four and a half trillion dollar company. He takes another guy named Jensen Huang, who is running Nvidia, and it's currently valued at 5.2 to 5.5 trillion dollars. He takes all these power players with him on the way. He takes Elon Musk, that's worth about 850 billion dollars, struggling financially, may want to start a GoFundMe to support him a little bit, right? He can buy countries. That's how much wealth he has. And he's taking it with him to say, let me tell you who we're coming here with, right?

• 9:18Patrick Bet-David?

  And so while that's going on, everyone's speculating, what's going to be talked about? Would Iran be on the table? Will the investments they're making in the US be on the table? Will Taiwan be on the table? What, allegedly, some of the topics, he's even talking about one of the guys that got arrested. Uh, what's the guy's name, Rob? The guy that got arrested? Jimmy Li? Jimmy Li, yeah, that got arrested. Apparently, he was a loud billionaire, saying certain things. Notice Jack Ma kind of disappeared, and he's not saying anything anymore. So there's a lot of topics that people are speculating. Tom, what do you think is the outcome of this visit to China? And what do you define as success?

• 9:55Tom Ellsworth?

  So I don't know what I define success as overall, because there's two vectors, I think. There's a, there's a global influence vector, and then there's the economic deal vector. Trump's over there to make economic deals. He's got the tariff situation. He's got the guys over there, and they were talking about chips. He didn't want Jensen Wang to sell the high-end chips, only sell the mid-tier chips to China. Uh, Jensen Wang is eager to sell to whomever, because he's a capitalist and he wants to sell around the world. So I think one is trade deals that would ultimately be beneficial and kind of calm down the tariff thing for the American consumer, and to make long-term deals, number one. But number two, on the world stage, I think there's going to be some quiet discussions.

• 10:40Tom Ellsworth?

  Because remember, China keeps shipping. ...sodium perchlorate over to Iran. And that is the white salt that is used to make rocket fuel. It's and they're they've there have ships that have gotten through since the start of the war. Since the beginning of this year, they have shipped between 1,000 and 2,000 tons of it to Iran, and they need that. It's like a critical, it's a critical material to make rocket fuel. So part of it, it's going to be knock off the rocket fuel stuff on the back door, dude. I mean, that's going to be quiet behind closed doors. But then in front of everybody, you're going to have the photo op. The photo op will have Tim Cook, the economic people, everybody there shaking hands, talking about tariffs. That's the photo op.

• 11:24Tom Ellsworth?

  The second line, I think, is on the back end, which is, listen, dude, you were propping up Venezuela. We've we've kind of let you know what we think of that. We're working on the Panama Canal and which and the crap you were pulling with Hutch is is pulling back. And now I got the Panama Supreme Court said this. So let's figure out this canal thing and Hutch selling its position. And let's do these deals. So I think the economic things are going to be Panama Canal, chips, et cetera, et cetera, et cetera.

• 11:52Patrick Bet-David?

  I got three.

• 11:53Tom Ellsworth?

  Lot of photo op.

• 11:54Patrick Bet-David?

  I like that. I got three clips of the president revealing what some of the topics may be. Rob, whichever one you want to start off with. Why don't we go with the first one, providing Taiwan with weapons? Go with that one first if you got it. Go for it.

• 12:04Speaker 03

  There's a lot of support for Taiwan from Japan and from countries from that area.

• 12:09Speaker 04

  Do you think we should still be supplementing weapons, United States?

• 12:13Speaker 03

  Well, I'm going to have that discussion with President Xi. President Xi would like us not to. And I'll have that discussion. That's one of the many things I'll be talking about. We'll have a, you know, he and I have gotten along well, other than with COVID. I, you know, I was not, I was, I was just not accepting of what happened with COVID. But other than that, he and I have had, he's a great gentleman. I find him to be an amazing, an amazing man. And when I say that, the press always says, oh, that's terrible that he called him. You know, he runs 1.4 billion people with a pretty iron fist. He's a, he loves his country, I can tell you that. President Xi, I look forward to being there.

• 12:56Speaker 03

  And if he felt anything, we wouldn't, we wouldn't be doing it. But a lot of good things can happen.

• 13:03Patrick Bet-David?

  You can pause it right there. So, Brandon, when you're watching this, there's another thing he talks about Iran, which we'll get into here in a second as well. And Brad, I'll come to you. But when you hear all these different things of him going there, what do you think are the top three issues for him? And what do you think are the top three issues for China?

• 13:21Speaker 05

  I would say for him, the top three issues are trade deal, Iran.

• 13:26Patrick Bet-David?

  You put trade above Iran?

• 13:27Speaker 05

  Yeah, ultimately, because, I mean, that's been his biggest issue the entire time. And, you know, Supreme Court kind of took some power away from him with that. So I think if, like, that's one of our biggest threats when it comes to China is the imbalance between that. So I think getting that squared away is number one. That's a long-term issue. Iran's more of a short-term issue. And then I think AI for sure. And then I think Taiwan, because, you know, Taiwan, the question is, all right, if we stop giving them weapons, are you just going to go over there and take it, China? You know, which a lot of people are saying they probably will try to. I don't think they'd be successful if they did that. But with him bringing those guys over, I think a lot of it's symbolic. But at the same time, that's the real might of America. That's the real power of America is that's the biggest companies, you know, like the

• 14:09Speaker 05

  CIA, a lot of the effort goes into protecting and putting our companies in the biggest position of strength is what's our GDP in reality? It's really the market cap of our biggest companies and what they could do to other countries.

• 14:19Tom Ellsworth?

  So what do you think China's top three is? I agree with most of your analysis of the US, but what would China's top three be?

• 14:25Speaker 05

  China's top three is probably keeping Apple in China, because they, you know, employ like 3 million people there, right?

• 14:30Patrick Bet-David?

  Keeping Apple in China?

• 14:31Speaker 05

  Yeah, I'd say that's up there, keeping US. So Chinese manufacturing and US consumption is like really the backbone of the entire global economy. So, you know, China's manufacturing response.

• 14:41Patrick Bet-David?

  Well, he took, Tim Cook took 25% of it to India.

• 14:44Speaker 05

  Yeah, the Poxon, yeah, they started moving it over there, yeah.

• 14:47Patrick Bet-David?

  Right, so you're saying the number one thing for him would be to keep the Apple? Manufacturing the 3 million jobs there in China.

• 14:54Speaker 05

  To keep American manufacturing in China.

• 14:56Patrick Bet-David?

  Still there.

• 14:57Speaker 05

  Yeah, to keep, to stop that trend.

• 14:58Patrick Bet-David?

  What else, what else outside of that?

• 14:59Speaker 05

  I'd say getting the AI, uh, the black wall chips from Nvidia is probably a big one too.

• 15:03Patrick Bet-David?

  And then last but not least?

• 15:04Speaker 05

  Um, I'd say probably securing their energy. So, you know, oil, a lot of their oil comes from Iran.

• 15:09Patrick Bet-David?

  So you think Iran and oil for them is three?

• 15:10Speaker 05

  Yeah, cause I-

• 15:11Patrick Bet-David?

  Are you on the same page?

• 15:12Tom Ellsworth?

  No, I think it's, I think oil and, oil in Taiwan are like 1A, 1B.

• 15:16Patrick Bet-David?

  I think so as well, yeah.

• 15:17Tom Ellsworth?

  Right at the top. Then I think it's trade and chips. And I think it's not simple for Taiwan.

• 15:21Speaker 05

  Why Taiwan?

• 15:21Tom Ellsworth?

  Because, because the oil influences the discussions about Panama Canal and Venezuela and Iran. So, oil, energy in Taiwan, I think we're one or two.

• 15:30Patrick Bet-David?

  You know, you know what it is? It's kinda like, uh, Taiwan is the word you say to get under the guy's skin. He knows what he's doing. Taiwan is the ex. Taiwan is like, hey, talk about anything, but don't talk about Taiwan, cause that's mine.

• 15:43Speaker 05

  Yeah.

• 15:43Patrick Bet-David?

  It's kinda like a guy who gets married and he's got a fa- a family and he's got a main squeeze, but he wants to make sure his ex doesn't date any of his friends. Make sense?

• 15:54Speaker 05

  Yeah.

• 15:54Patrick Bet-David?

  So I don't know any better analogy than to give to that. He's kinda like, hey, even though I'm married, you better not date Mary. Okay, I'm telling you, Brad, don't hook up with her. I heard you guys are texting each other. You better not date Mary. I think there's a little bit of, and he knows. He's like, hey, how's Mary doing?

• 16:08Tom Ellsworth?

  And he's a troller. Trump's a troller. Can you see Trump trolling?

• 16:12Patrick Bet-David?

  Yeah.

• 16:12Tom Ellsworth?

  You know, uh, you know Xi, you know Qatar?

• 16:14Patrick Bet-David?

  I hear she's really good. I hear she's really good in bed. You know, I hear, like, they wanna talk to, I mean, listen, I'm not calling cause she's calling me. What do you want me to do? I think he's kinda doing that. Brad, what do you think?

• 16:23Speaker 06

  That'd be a violation of bro code. Can't do that. I think he's going over there, uh, like a boss, you know, and he's bringing the decision makers with him, which I think indicates that there's probably more of the economics, uh, on the table. Oil. I also know that like, I need to read more before I come join these shows. You guys are some, some well-read individuals. I don't know that they were shipping sodium pychlorinate anywhere. Damn, Tom.

• 16:51Patrick Bet-David?

  That's the problem with time.

• 16:52Speaker 06

  I know.

• 16:53Patrick Bet-David?

  Tom will drop some shit on you.

• 16:54Speaker 06

  I feel ill equipped, ill equipped. But when I just look at the story, I'm thinking, A, boss move. Why? Trump's a relationship guy. He understands that relationships are the bottom line. China and Russia, we don't want those guys buddying up as much as they have been in the past. Right? So it's like, let's bring some power over here. China needs money, wants money. Right? So let's bring the money. I'm bringing decision makers. I'm not bringing some representatives. I'm showing up with full blown firepower so we can shake hands and make a deal and not say, let's talk about it next time.

• 17:28Patrick Bet-David?

  Yeah, and you know what I like about this Brad? I like the fact that story came out saying Jensen Huang's not going. Right? Nvidia, and he knows how important that is for him to go. So allegedly, he calls and he says, you're coming with us. And he's like, I got other things to do. I don't care what's going on. You're coming with us. Allegedly, he says that. Then he tweets out, is this it, Rob? What is this one?

• 17:50Tom Ellsworth?

  This was just a quick report from Reuters yesterday confirming that Jensen Huang was.

• 17:54Patrick Bet-David?

  Wasn't going. Okay, go ahead, go ahead and put this one in and we'll read the tweet. Go ahead.

• 17:58Speaker 04

  One CEO not making the trip is Nvidia's Jensen Huang. A person familiar with the matter said on Monday. Huang was not invited, the source said, with the White House focusing more on agriculture and commercial aviation matters on the current trip. Nvidia has been pushing the administration to allow it to sell some of its AI chips to Beijing. The White House did not immediately respond to a request for comment.

• 18:23Patrick Bet-David?

  Okay, so this is then, so everybody's like, okay, Jensen Huang, why is he not going? He said no to the president. Allegedly, the president made the phone call. And then the president puts this tweet out there. If you want to, if you want to put the tweet of what he said, we had it on our group text, Rob. I don't know if you have it or just, you can do it here or you can go to. So the president says, I'll just read it here, Rob, until you get it and so the audience can see it. The president responds as, this is fake news. This never happened. You know, this was not a story of anybody saying, we just literally shared it this morning. Somebody sent it. Is it in the guest podcast? Is it in the business podcast? I know where it is, I'm sorry.

• 19:03Tom Ellsworth?

  Was on Truth Social, over to X.

• 19:05Patrick Bet-David?

  Yeah, we had it. So anyway, so he says, no, it's fake news. This really happened. This is not something that didn't happen. CNBC incorrectly reported that the great Jensen Huang of Nvidia was not invited to the incredible gathering of businessmen, women proudly going to China. In actuality, Jensen is currently on Air Force One, and unless I ask him to leave, which is highly unlikely, CNBC is reporting fake news. It is an honor to have Jensen Huang, Elon, Tim, uh, uh, from Apple, Tim Apple, he calls him. Larry Fink, Steven Schwarzman, Kelly, and he goes through a list of all this stuff. And many others, journeying to the great country of China, where I will be asking President Xi, a leader of extraordinary distinction, to open up China so that brilliant people can work their magic and help bring the people's

• 19:48Patrick Bet-David?

  republic to an even higher level. You know what I like about this? In fact, I even promised that we are together, which will be in a matter of hours. I will make that my very first request. I've been seen or heard of any idea that would be more beneficial to our incredible countries. Okay, you know what I love about this? Is the fact that the guy understands events, and he understands optics, and he's willing to make the phone call. What's the likelihood he called him and says, you're getting on this plane? What's the likelihood? Zero to 100. What do you put it? 50%, 100%, 90%?

• 20:17Speaker 05

  80.

• 20:18Patrick Bet-David?

  I got him at 100%.

• 20:19Tom Ellsworth?

  I'm 100%.

• 20:20Patrick Bet-David?

  Yeah, he called him and he says, hey, we're not doing this without you getting on this trip. You're getting on this trip. Why do I like that? Because sometimes in life, you have to realize, like, when you're going to a big, and what is a bigger meeting than this right now? I don't know if there's a bigger meeting than this.

• 20:35Speaker 05

  No.

• 20:35Patrick Bet-David?

  Who do you want to take with you, your power players? You're calling and saying, and do you think there was a threat on the call?

• 20:40Speaker 05

  Yeah.

• 20:40Patrick Bet-David?

  Or do you think it's a reminder? Do you think it's a nudge? Do you think it's a 0 to 10 pressure 10?

• 20:45Tom Ellsworth?

  It's a Trump reminder. You know, I was talking to Scott Bassett, and he said, Q1 next year would look a lot better if you were selling more chips to China. Just something he said. I don't know if it's right or wrong. I don't know.

• 20:54Patrick Bet-David?

  He's gonna say, I thought we were doing you well. I thought we were doing this. I thought we did this. I think he's gonna remind him what he's done for him. And it's gonna be like, you better get on the plane, and guess what? I guarantee you, he definitely had a nice Big Mac waiting for him, and maybe that was a selling point. Who knows? But I like the fact that he made the call. And look, whether he was not supposed to be on or not, guess what? I like that he made the phone call. That's what leaders are supposed to do, to say, hey, diplomacy, get on, we need you, and we're going to this trip in China. So, while you're looking at this, and this is taking place. For me, it goes to a few other stories with it because this conversation leads to, you know, with the China, with the, you know, Iran and all this other stuff. And one of the videos that you have, Rob, where he says, "We're going to be also talking

• 21:38Patrick Bet-David?

  about Iran if you want to go to that one." Is this it? Yes, sir. Go for it, Rob.

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• 23:55Speaker 00

  What is your message to President Xi as it relates to the Iran war?

• 24:00Speaker 03

  Well, I think number one, we're gonna have a long talk about it. I think he's been relatively good, to be honest with you. You look at the blockade, no problems. They get a lot of their oil from that area. We've had no problem. And he's been a friend of mine. He's been somebody that we get along with. And I think you're gonna see that good things are gonna happen. This is gonna be a very exciting trip. A lot of good things are gonna happen.

• 24:26Speaker 00

  Do you think he needs to intervene at all with the Iranians? Do you think he can help in any way?

• 24:32Speaker 03

  I don't think he does. No, I don't think we need any help with Iran. We'll win it one way or the other. We'll win it peacefully or otherwise. Their navy's gone, their air force is gone. Every single element of their war machine is gone.

• 24:47Patrick Bet-David?

  But there's one thing nobody is talking about. You can pause that right there. You can talk about, you can pause this one here, Rob. It says, Trump says Iran is on life support, right? And there is one thing nobody is talking about in regards to Iran. And I wanna know if you've read any of this stuff here, Tom. Well, I go through it. Do you know when people think about where we get internet from? Do you know 97% of the internet that we use, to upwards of 99%, is it satellites or is it underwater?

• 25:15Speaker 06

  Cable.

• 25:16Patrick Bet-David?

  It's cable. And cable is where?

• 25:18Speaker 06

  Underwater.

• 25:19Patrick Bet-David?

  Underwater. 97% underwater. You know how many thousand miles? There's 750,000 miles of cable underwater. Each mile to build these is between $400,000 to $1.1 million to create, each mile of this. So go 750,000 miles of cable. Okay. What the hell does this have to do with anything? If you wanna pull up these cables, Rob, on what they look like, the underwater cables for internet... And if you go to that one right there, go to that one right there, can you, no, no, the one, that's what it looks like, just so you know, but go to the fourth one, fourth image. Right there, can you make that bigger? Okay. This is what Iran just figured out. You see all these cables where they're going through?

• 26:04Patrick Bet-David?

  Sixty percent, go zoom in a little bit more, that's a pretty shitty quality picture, but we'll do the best with it, Rob. Zoom in a little bit more to India. Do you see that bottom left, like right in the middle of India? That zero dot right there, go a little bit higher to show you which one it is, go right, go down a little bit with that arrow, Rob. Can you put it right to the left, right there, that one right there is Mumbai. Sixty percent of India's internet comes from Mumbai and the cables that go through there. Two of the connections of these cables go through where? Strait of Hormuz. So Iran has realized, wait a minute. If this, by the way, ten trillion dollars a day is going through that cable. And they figured out, they said, oh, you guys want to play ball. So guess what we want to do? They've not just been asking about the two million dollars per ships that come through

• 26:49Patrick Bet-David?

  a day from Strait of Hormuz, which is two million times sixty ships is what? You know, one, you know, one hundred and twenty million dollars a day, times thirty days, that's a lot of money for these guys to be making, right? If you think about, is it two million times sixty, one hundred and twenty million dollars, right? They're not only asking for that, because they want to say, we want to control Strait of Hormuz. But guess what now they're asking? They made three requests. One, they want to take control of the cables that goes through Strait of Hormuz. Two, the, the entire, if it breaks and fixes, you can't use any other company except for Iran to be able to fix the cable, so they want the business to go through them. And he's now asking, do you know who has cables on Strait of Hormuz, which companies?

• 27:31Patrick Bet-David?

  Microsoft, Apple, Meta, has built their own cables that's going through there. India all of a sudden comes out and is like, wait a minute. We cannot, because Iran's like, hey, we found out about these cables. If you guys mess with it, because back in the days, what China knew how to do is even Russia trained on this. China had a unit, and Russia as well, where they learned, they taught their people on how to go underwater to mess with these cables. And in, in many instances, they'll go and they'll drop the anchor, okay, in areas that they know where these cables are at, and the ship gradually moves. You know what all of a sudden happens when anchor gets stuck in the cable? Boom, cuts the cable. All of a sudden, the country loses internet, you know for how long?

• 28:15Patrick Bet-David?

  A long time because it's not like you call AAA and somebody comes and fixes it within 20, 30 minutes. You know how long it takes to fix these things? Weeks to months to fix them. And if India is now being threatened by this, India is now making a phone call and saying, hey, uh, these Iranians, we thought they were dumb. Apparently they're not done with the IRGC. Not only do they want to mess with this, but now they're talking about they're gonna mess with the cables. If they mess with the cables, guess who's gonna be impacted by this economically? Everybody. The whole world. The whole world. And is there a country that is famous for saying things like death upon America? Capable of messing with these cables? If you really push them to the corner? Oh, yeah. Probably yes. So now this leads to you thinking about one of two things.

• 29:01Patrick Bet-David?

  Does the Strait of Hormuz impact the West more or does it impact China, India, Russia more? Who does the Strait of Hormuz impact negatively most? More us or China and Russia? China, Russia. Okay, beautiful. So if it's China or Russia, don't you think this will be a conversation that they're gonna be having? Because we're not at a point with the satellite, oh, we're gonna go, internet's coming from the satellite like Starlink. You know how long it takes to fix those things? Yeah. Long time to fix it. Internet is underwater and Iran just brought, can you pull up the story, Rob? They just brought this up a week ago. You've not even heard about the story until about a week ago when Iran said, here's when we won with these cables. So whoever's giving this intel to them, is that it? Uh, uh, yeah, there you go. Look at this. Look at this.

• 29:45Patrick Bet-David?

  Iranian state media proposes charging international companies a fee to use fiber optic cables in the Strait of Hormuz. Go a little bit lower, Iran semi-official, could start, so they ask for three different things which they're getting. And you're starting to see this has become a topic. So I wonder if this will be another one of those things that they'll talk about? Because if they all of a sudden get reckless and they mess with this, the world is gonna be saying, hey, we gotta stop. Specifically, India. So India will be in the middle saying, well, US, listen, we kinda gotta finish this war because we can't get anything. And the US is gonna be like, nope, number one priority for us is making sure those guys don't have a nuclear weapon.

• 30:25Patrick Bet-David?

  So thi- thi- this is, this is a bit of a, um, right there, look at, go to the bottom left, that's how they set up the cables. So look at that guy. That's a maintenance. That's your AAA to fix the cables. Look at that. That's your triple A. And by the way, when you have 750,000 miles of cables, how do you secure them? Do you have cameras down there? Do you have security waiting for them? Do you have people that are waiting there? You ever hear the saying that 94% of the ocean has not been

• 30:51Speaker 05

  Yeah.

• 30:52Patrick Bet-David?

  discovered? So if 94% of the ocean has not been discovered, how the hell do you protect 750,000 miles of cables that a country like Iran, if they wanted to disrupt the world, they could. This is it. Look at this. These are all the cables on Strait of Hormuz. And look the connections with Iran. They know, like, they're starting to talk with, you know, I don't know where this information is coming to them, but this has been a known topic for a lot of people, but it's becoming a conversation just in the last week. Brandon.

• 31:19Speaker 05

  No, that's fascinating. And I was thinking the exact same thing, that somebody had to have been putting this in their ear and getting in their ear saying this, because for it to come out nowhere like that with them to have a plan.

• 31:27Patrick Bet-David?

  You almost don't want them to be talking about this.

• 31:30Speaker 05

  Yeah, no, because if you're dealing with somebody who has nothing to lose, like, you know, you could have all the resources in the world, but you know, they always say that an equal or even more scary opponent than that, somebody who has nothing to lose. So if they're living in pain and, you know, no energy, like turmoil, what is it to them to, you know, do this, to, you know, set the world on fire? It's nothing to them.

• 31:48Patrick Bet-David?

  It's nothing to them. Yeah, Tom, what are your thoughts on this?

• 31:52Tom Ellsworth?

  You know what? This is the backstory of economic pinch that is going on all over the place. We saw it before, but you don't realize what you're seeing it. And the mainstream media is just not diving in. There's some smart people in mainstream media, you have to squint and look hard to find them, but there are some people out there. Think about Nord Stream. What was Nord Stream? Natural gas pipeline that went from Russia to Germany. All of a sudden, in the middle of the Ukrainian war, way over there, everybody goes, boom. What was that? Did you hear a thump? And all of a sudden, there's natural gas foaming out of the North Sea until they could, Russians got it turned off. In 2021, Pat, what percent of natural gas to Europe, EU, came from the United States?

• 32:38Tom Ellsworth?

  6%.

• 32:39Patrick Bet-David?

  Yeah.

• 32:40Tom Ellsworth?

  By 2024, after Nord Stream got bonked in 2022, that was 28%. The end of last year, it was approaching 40%. By the end of this year, the natural gas, LNG, to EU from the United States will be 80%. And guess who's no longer collecting money on the Nord Stream pipeline because they haven't been able to fix it? Russia. Because they've been kind of busy with the Ukraine thing, and there's like this, and maybe our guy's got cancer, maybe he doesn't. Now, fast forward here, these are the backstories of economic pinch. Who, everybody was saying, the CIA, the CIA cut the Nord Stream pipeline. It doesn't matter who you think cut, who benefited later. The US is now up to 60% natural gas.

• 33:25Tom Ellsworth?

  And you hear Trump say, "We got lots of natural gas, gas, gas, gas, lots of gas going to Europe, lots of gas."

• 33:30Patrick Bet-David?

  Yep.

• 33:30Tom Ellsworth?

  And guess what? He knows he's got the card there. 60% will be 80%, they say, by the end of 2028. 80% because Europe is moving from fossil fuels, natural gas burns cleaner. So guess what? You've got all that going? Now you've got this? This doesn't surprise me at all, Pat. This is Nord Stream with data bits where, once you break it, who wins? Or they just want to put a toll booth on it and with a light switch?

• 33:56Patrick Bet-David?

  So here's, here's the question.

• 33:56Tom Ellsworth?

  Oh, you know, you, okay. All right, listen, I'm upset. No OnlyFans for Europe, click.

• 34:02Patrick Bet-David?

  This is the question, though. And Brad, I'm going to come to you, and then I'm going to come to you. The question becomes the following for me. If you're negotiating with a country like Iran, okay? They just brought this up, the cable. Okay, so then, then you have to ask yourself, did they figure this out? Or did Russia drop this on them and whisper to them and say, "Hey"? Like, do you think if you're sitting down with Iran and Russia in that room that they had Abbas Al-Rajhi that went over there, met with them in Russia? I don't know if you remember that, when Putin said, "We're teammates, we're allies." What do you think is a possibility of Abbas Al-Rajhi saying the following to Putin? "Hey, Vladimir, question for you. What is the one area of pain that we can bring to the world that nobody is thinking about?"

• 34:47Patrick Bet-David?

  And maybe Putin's team are like, you know what's the one thing nobody is thinking about? What's that? Let me tell you with Nord Stream pipeline, CIA was behind it. Tom, you know if you want to scare them up, you know what you do? What's that? Why don't you go talk about all the cables that are coming through Strait of Hormuz? They'll be shitting bricks. They won't act like it's scary, but they'll be shit. What do you think is a likelihood of that meeting? So he goes meets with Putin two weeks ago. Putin says we're allies and we have your back. And then a week later, you come out and drop cables on him? So I think this was dropped to them by Russian intel to say this is one way. Because this morning I got a question from somebody that's big on news and asking me a question about Iran and all this other stuff.

• 35:31Patrick Bet-David?

  And I was telling this person about the concept of economic hitman. How America was known for having the biggest business of economic hitmen. It used to be Britain. Britain was the best one. They did this to Iran and to other people.

• 35:43Tom Ellsworth?

  Confessions of an economic hitman.

• 35:45Patrick Bet-David?

  That's the guy, John Perkins. Yeah, I had him on two or three times. So I think there's something here where they're flipping it. Brad, how are you processing this information here?

• 35:52Speaker 06

  I would, I'm tracking with you. I mean, that's, that makes sense to me.

• 35:57Patrick Bet-David?

  How do you negotiate this? I guess if it's you now, now you're US, okay? And in US right now, we have people that are not supportive of the war. 60% of it is not supportive of the war, right? They're like, this is a waste of time. Now it's hitting my pockets. Gas prices are up to 450, diesel is at 535. You know, I'm starting to spend more money. This is not fun. But Iran, the country that wants to have nuclear weapons, they've said it publicly that they want to have it. And now they're telling you with the cable, if that's the negotiation that they're having, how do you negotiate back with Iran? Do you sit there and say, okay, you can get some revenue from the cables? You can get some revenue from the Strait of Hormuz? How do you negotiate with them?

• 36:38Speaker 06

  You know, I would have to get a little bit more into the details only because, you know, what do they want? What's their end goal? And, and based on that, I would, if it's a nuclear weapon, that can't happen.

• 36:49Patrick Bet-David?

  They want the nuclear weapons.

• 36:50Speaker 06

  That can't happen.

• 36:50Patrick Bet-David?

  Yeah, on the 14-point deal that they're talking about, one of them is, let's do all, let's open up the Strait of Hormuz. Let's lift the sanctions and then let's talk about nuclear control enrichment for us later on. But, uh, you know, we, we are eventually going to have nuclear. If Pakistan can have nuclear weapons, why can't we? If North Korea can have nuclear weapons, why can't we? That's the kind of position they're taking.

• 37:09Speaker 06

  What is the answer?

• 37:11Patrick Bet-David?

  What is the answer?

• 37:12Speaker 06

  No, but what is the answer to that? Why can't they?

• 37:15Patrick Bet-David?

  Okay, so that's the position you would take?

• 37:16Speaker 06

  Well, I mean, I need more details. Like, I don't study this news all day.

• 37:20Patrick Bet-David?

  No, but ask the question. That's a fair question to ask, because a lot of people are asking the question.

• 37:24Speaker 06

  I'd like to know.

• 37:25Patrick Bet-David?

  It's not an innocent question. Some people are saying, "Why can't they have it?" Now, the argument to that is, these are such reckless, crazy human beings that they hate America, and they hate what we stand for. And they've publicly said that the... Who is the... The Mochtabah Hamenei made comments three or four days ago about what's gonna happen to US. You know which comments I'm talking about that we just read a week ago, Rob? Where he says, "There will be a day where Iran, where US will be destroyed," or something like that. This is their supreme leader that is talking about wanting to destroy the West. You can find a quote on what he said on their state TV, or he said it to his people.

• 38:09Patrick Bet-David?

  Yeah, when you find it, we'll talk about it. So, but some people are saying, "Do we want a leader like that to have nuclear weapons?"

• 38:15Speaker 06

  No, I don't think there should be nuclear weapons ever again. There's enough to annihilate the whole world. So what's the purpose of having one?

• 38:23Patrick Bet-David?

  Why can't Iran have it?

• 38:24Speaker 05

  Look how great it is for North Korea. We leave them alone because they have one. So you can't really do anything to a country once they have nuclear weapons.

• 38:29Patrick Bet-David?

  So you are saying it's okay if they have it?

• 38:31Speaker 05

  No, I'm saying that's why they cannot have it. Because once they do have it, they have too much leverage over us.

• 38:34Patrick Bet-David?

  Okay, so let me come to you as a negotiator. Think like a negotiator with the access to information that we have right now. What are you doing with Iran? They're telling you what they want with Strait of Hormuz. They're telling you they want you to lift the sanctions. They're telling you that they want to have a nuclear weapon. They're telling you that we want to get revenue on this cable system that we have in Strait of Hormuz. How do you negotiate with them now?

• 38:52Speaker 05

  Yeah, I mean...

• 38:53Patrick Bet-David?

  Is it at all cost? Is it using leverage by China to team up with you and say, "China, stop helping Iran"? How do you do it now?

• 39:00Speaker 05

  Yeah, I mean...

• 39:00Speaker 06

  Give them the money they want.

• 39:01Speaker 05

  I mean, you have to match their level of savagery, unfortunately. Like, it's not gonna be a pretty situation.

• 39:05Patrick Bet-David?

  Okay, so you're saying, "Match their savagery." You're saying, "Give them the $30 billion that's sitting in the account." Tom, what do you do?

• 39:12Tom Ellsworth?

  You can't. You have to push them hard. And the issue is, you gotta control Russia. No one's talking about Russia here. Russia is so pissed at the United States because our entire government, except our president, was willing to help Ukraine. Now, I'm not gonna take sides in the... Russia invaded first. And basically Biden gave them the wink wink green light. But then we gave all this aid to Ukraine. And they bought all the things that you needed to fight a war.

• 39:42Patrick Bet-David?

  Like yachts.

• 39:42Tom Ellsworth?

  Tanks, tanks... Wait, you missed my punchline. Tanks, planes, drones, Bentleys and yachts. All the things you need to fight a war, according to what they were buying. And then, what did Russia do with Iran? The first weeks of the engagement? They did this. They gave them satellite imagery of where we had concentrations of equipment, Pat, in our bases in the Middle East. That was Russian satellite imagery. Hey, you know, if you're gonna launch these drones over toward Oman and UAE, you know, Boris, this is what you wanna do. Here, here and here, the Americans have got a lot of supplies and things built up. You might wanna hit them. Then, Russia was caught giving the...

• 40:23Tom Ellsworth?

  There's an Iranian drone called the Shahed drone. S-H-A-H-E-D, Shahed.

• 40:31Patrick Bet-David?

  That's the main one they make.

• 40:32Tom Ellsworth?

  But it had poor tracking system on it. The Russians gave them technology to improve the tracking system. Along with they gave them the targeting information on the ground. So if Russia is giving that to Iran, and they are so pissed at us about Ukraine, do you think they're also giving them a map of the undersea cables? Yes. Do you think Russia's got better intel on the undersea cables than Iran does? Yes, absolutely. And so what do you gotta do about this? You either have to be more ruthless than the other guy, and push it all the way over in a war that got far deeper than you wanted? Because if you stop now, "Oh, we'll talk about nukes later, and now we have to..." Okay, so listen, we'll make a deal. You don't touch the cables.

• 41:16Tom Ellsworth?

  You get a toll booth on the ships on the water. You get a toll booth on the cables under the water, and we'll talk about nukes later. That's a W for Iran.

• 41:23Patrick Bet-David?

  No way.

• 41:24Tom Ellsworth?

  That's a W for Iran.

• 41:25Patrick Bet-David?

  So this is the part, and it goes to the folks who are sitting there who are not supportive of the war. Okay? So you finish up today, and you give everything with Iran. We get the gas prices to go back down to 289, or you know, 325, or whatever the numbers are. Great. But they get control of Strait of Hormuz for the $2 million. They're able to enrich. You give them the $30 billion. And they have control because the three requests they made is maintenance. That anybody that's using a cable of Strait of Hormuz, they have to pay Iran a fee. You know, the asks they're making, and by the way, just so you know, it's ridiculous on what can happen. So some people are like,

• 42:04Patrick Bet-David?

  I don't want to do, deal with it. The 60% of the community, let's not do any of that stuff. Let's give Iran everything they want. Is that a better position? This is a very complicated situation.

• 42:12Tom Ellsworth?

  No, you just gave your competitor two new product lines. A toll booth on the water and then a toll booth on the cables under the water. Now he makes economic money on that to raise more havoc that he's already been doing.

• 42:24Patrick Bet-David?

  That becomes, that becomes the Panama Canal of the East. Yeah. That's a lot of control.

• 42:29Tom Ellsworth?

  With the wrong guy.

• 42:30Speaker 06

  If you're giving them control, like you can take it back. So it's like, it's, it's almost like, pacifying them. Like you want control? Okay, here you can have control. You only have control until I say you don't again. So at the end of the day, do you really have control? Or are you just pacified? Calm down and we can carry on. Cause at the end of the day, who controls it? Well, whoever's the most mighty and powerful is who controls it. If I allow him to think he's controlling this company when I own the shares and I own the board, he don't control shit.

• 43:01Patrick Bet-David?

  You don't though, but you don't. In this case, it wouldn't be the case because in this case, if everybody is going through paying the $2 million to them, it's 60 a day. If everybody, that's, that's a lot of money to them. And guess what they're gonna do the longer time goes by? More cash, more weapons, tougher. We learned that Iran is not Venezuela. Venezuela was easy. Boom, boom, we got Maduro, we're out. Right? And now they're joking about making Venezuela the 51st state. I don't know if you saw that or not. They're talking about, hey, what do we, what can we do to make Venezuela the 51st state? Iran has shown they're more relentless and they're not wired like other people are. Like it's celebration if I die for my country in Iran. It's a very, if I die for my profit, it's a celebration for them. Their mothers celebrate. I cannot believe my son killed himself.

• 43:47Patrick Bet-David?

  On behalf of our religion, on behalf of what we stand for, it's a very, very different community. Here we mourn, they there celebrate when somebody dies.

• 43:54Speaker 05

  You know, it could be done. I mean, and since you're, uh, we're saying that they're not rational actors there, but China and Russia are rational actors, even though we have our differences with them. Like, we could say, alright, screw Ukraine, let's make Russia happy temporarily and help, have them help us bleed Iran out because, you know, Iran would, wouldn't be nearly as strong and in a position of strength if Russia and China weren't supporting economically and from an intel standpoint.

• 44:15Patrick Bet-David?

  Yeah. Well, well, this is talking about, uh, Trump was asked about the economy, Rob, and this one clip here, we can spend a couple of minutes on it, got a lot of criticism because he was asked, so, what do you think about the struggles people are having in America with the economy and their challenges and all this stuff? And he just got back and he says, look, you know, the last thing on my mind is, go ahead, I'll let him tell you. Go for it, Rob.

• 44:36Speaker 06

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• 46:34Speaker 04

  How many discounts does USAA Auto Insurance offer? Too many to say here. Multi-vehicle discount, safe driver discount, uh, new-vehicle discount, storage discount, legacy discount. How many discounts will you stack up? Tap the banner or visit usaa.com/autodiscount. Restrictions apply. When you're negotiating with Iran, Mr. President, to what extent are American financial circumstances motivating you to make a deal?

• 47:01Speaker 03

  Not even a little bit. The only thing that matters when I'm talking about Iran, they can't have a nuclear weapon. I don't think about America's financial situation. I don't think about anybody. I think about one thing. We cannot let Iran have a nuclear weapon. That's all. That's the only thing that motivates me.

• 47:20Patrick Bet-David?

  So this was the hot topic yesterday, and while they're asking the question, somebody also asked about the ballroom, and he says, "You're a dumb person, right?" So every day, something new happens that goes viral, but this was the moment that the president had yesterday. Rob, I don't know if you have the other one or not, but while you're looking, is that the one? It's short. Go for it.

• 47:38Speaker 03

  So what happened is, we have a ballroom that's under budget. It's going up right here. I've doubled the size of it because we obviously need that, and we're right now on budget, under budget, and ahead of schedule. You doubled. You doubled. I doubled the size of it, you dumb person. You doubled the size. You are not a smart person.

• 47:59Patrick Bet-David?

  You can pause it right there. Tom, address the first issue and the second issue. Go for it.

• 48:07Tom Ellsworth?

  The first person that's a dumb person? No. All I had to say there in the ballroom is, the ballroom's privately financed. Taxpayers aren't funding it, but taxpayers are going to benefit because you're going to have this ballroom there, and I made it bigger and we're on budget. But he is who he is, so he's got to kind of push a little bit there.

• 48:25Tom Ellsworth?

  You know, he was upset. You could tell he was getting frustrated. You could tell there's tension there. You can tell when a leader's got a little tension going. And so with Trump, you can see the tension and patience, because his answers become actually more quick and strong. And you can tell when he's a little annoyed. And he's like, "All I'm worried about is they can't have a nuclear weapon." You know, that's a common thing you might say. But she asked about it, and what he should have said, because it came out bad, is, "I am deeply concerned about them not having a nuclear weapon. And the sooner we solve that, the sooner the war's over, and then the sooner we can get back to helping the American people with energy and gas costs and everything else. But right now, we're stopping them from having a nuclear weapon

• 49:09Tom Ellsworth?

  and simultaneously trying to help the economy. But when the war's over, then everybody gets help, and I'm deeply concerned about the American people." If he does it like that, then you hear a president that is properly talking about the two problems that are on his desk. But instead, it sounded dismissive, and it kind of gives the mainstream media the angle to go with, which I didn't like. You know, it could have been said better.

• 49:34Patrick Bet-David?

  What are your thoughts?

• 49:35Speaker 05

  Yeah, I mean, it's, talk about not reading the room. I mean, before this war even kicked off, you know, the biggest Achilles' heel for him going into the midterms was the cost of living. And I mean, the reason it's a big deal is because the difference between a capitalist and socialist country is a strong middle class. You know, if your middle class starts getting eroded because of the cost of living, then you turn to a socialist society, because, you know, like 80% of the country can't afford basic things like rent and food and energy, then, you know, you start, like a lot of people don't understand why it's happening, so they start to get desperate and they, you know, accept the sales pitch from a socialist politician like AOC, or Gavin Newsom, or Bernie Sanders, who tells them, "Yeah, it's not fair. We're going to give you, you know, universal basic income, or we're going to tax the billionaires and give you, you know, payouts for it because

• 50:19Speaker 05

  you can't afford to live, and it's their fault." So I think he's creating that problem for the future. But, yeah, talk about, in terms of not reading the room, and like, whose fault it actually is. I mean, that's, put that aside. But I'm not even certain that Iran had nuclear weapons to begin with. So saying that with certainty, not super clear on that. So to say, you know, it does matter your cost of living, I think that should be the biggest issue.

• 50:42Patrick Bet-David?

  Brad, Bradley?

• 50:44Speaker 06

  Well, I agree with him, only because, you know, again, if they'll, if they'll use it, which sounds to be the case, well, then, they can't have one under any circumstances. So it doesn't, it doesn't really matter. And again, I think we already know, he's not politically the best president we've ever had.

• 51:01Patrick Bet-David?

  Politically correct, like he's not a guy, yeah.

• 51:03Speaker 06

  Yeah, he doesn't know what to say half the time, so he just says what he feels, which I prefer. Like, I'd rather be told the truth and, and be offended than, than be lied to and, and feel all comfortable. Because the truth always, I think, is the best answer, even if it offends people.

• 51:18Speaker 05

  What he's saying isn't, isn't true. Like, before, he was saying inflation's gone, that wasn't true at the time, and now, you know, it's worse because of the situation. And you could say, there's an off-ramp, you could say what the plan is, but I don't think he realizes how many people he's speaking to when he says that.

• 51:31Patrick Bet-David?

  Yeah.

• 51:31Speaker 05

  Whether they're on his side or not on his side, you know, he's speaking to a lot of people on his own side with that.

• 51:35Speaker 06

  Well, you also have to worry about, like, how do you trust the media in the first place? Like, when, when someone says Trump said this or did this, how do you know that's even true? And then when you hear him say it right out of his mouth, you say, well, that's, that's a lie. How do you know?

• 51:48Patrick Bet-David?

  Yeah.

• 51:49Speaker 05

  Not, oh, sorry.

• 51:50Patrick Bet-David?

  But, but the part here with the economy, now, he could have worded that in a different way, because sometimes, this is the part again, when you come out of a meeting, and then the camera's on you, like, I will do some clips sometimes, and I'm reacting, and nobody knows, two annoying things just happened right before I'm supposed to get in front of camera, I'm being a good mood, and, hey, let me tell you about how you can do this and do that, and you're like, ah, two things just didn't go my way. And we just got a massive issue with this, and I'm dealing with that, and that property didn't sell, and this person did this, and that person did that, and, and then you want me to be, and then imagine, if I'm running a small business, now imagine you're the president of the free world, and how many calls like that you're gonna have? Well, Russia's not good with you, Putin just said this, and Carney is bullshitting around with Obama and Alex Soros, and then one of

• 52:34Patrick Bet-David?

  your guys, you find out is spying news to New York Times, and another person, and then you get in front of the camera, so what he does, you're a dumb person, you're this. So, of course, you know, you know, you can say that's diplomacy, you gotta have a better way of handling it. It is what it is. There is pressure, and the topic of affordability is a real thing, because this led to numbers coming out just this morning, CPA. CPI, 3.8% that came up today and it's up and there's a clip of this right there. Consumer price rose 3.8% annually in April, the highest since May 2023. Excluding food and energy, the CPI core increased 0.4 and 2.8% respectively, keeping inflation well above the Federal Reserve 2% goal, though energy and particularly gasoline has been much of the headline story.

• 53:17Patrick Bet-David?

  Inflation pressures also came from a variety of other areas. The report also contains bad news for workers as real average hourly wages slipped 0.5% for the month and fell 0.3% annually. Tom?

• 53:30Tom Ellsworth?

  Oil is driving this and just in, just moments ago, I sent it to you, Rob. Market watch, wholesale prices, the, yep.

• 53:41Tom Ellsworth?

  I just, I just sent it to you.

• 53:43Patrick Bet-David?

  Tom, he'll, he'll look for it.

• 53:44Tom Ellsworth?

  There it is. Wholesale prices, which is called the CPI, Consumer Price Index, and then you have PPI, Producer Price Index. So this is wholesale cost. Wholesale prices have hit a four-year high and have climbed 6% over the year. There it is. Yep. Market watch. You know, the nice thing about market watch is they don't spin it. They just put the numbers for you and they try to spin it, well, at least not as much as others. But, and so what this means is, and it says that this is driven more by oil. Transportation of goods increases my wholesale cost. You know, Brad and I sell a bunch of citrus and then now we're dealing with $5.50, you know, diesel fuel. It costs a lot of money to get all of our citrus from Florida to the rest of the United States now. That's in the price of those grapefruits and oranges now because we got to add the price.

• 54:29Tom Ellsworth?

  So the Producer Price Index is up and so what it's saying is that the war is having an effect on it. What's more alarming to me in the middle of these two things is what we don't see. So much forward planning happens and fertilizer for next year, they've run out of the previously purchased, they've run through the previously purchased fertilizer at yesterday's prices, which they use to plant this year's crops. Next year's fertilizer futures are up 40% and so they're scared to death that what everybody is nervous, including me, that what's about to happen Inflation next year driven by food is going to be up because it's going to cost more to drive. There it is.

• 55:10Tom Ellsworth?

  Key nutrients traded 30 to 40% higher than previous levels. That's 2027. That's 2027 because I have to buy it. If I need 40 tons of fertilizer, I got to put in an early order to ensure they can deliver it to me for 27. And so, right now, inflation is creeping up and it's being driven by the war in oil. And it's not just, you know, 10 hours in and out of Venezuela, was it?

• 55:38Patrick Bet-David?

  Brendan.

• 55:39Speaker 05

  Yeah, I mean, they say excluding food and energy, inflation's only up by this much. But it just so happens that those are the two things that people really need to live. So, I mean, if you want to just like survive at the very least, like those two things affect you. You know, like the stuff you buy on the shelf that are material things that that could come and go. But so it's kind of a silly thing for them to say like, oh, just aside from the things you need to live. Inflation's not up that much. So, I don't think they should spin it that way. And I mean, think about what like the impact that wars had on fertilizer, for example, or energy the last five years. So, Ukraine and Russia, you know, biggest place we get fertilizer from and two huge places from a commodity standpoint, oil standpoint. And then this happened. So, it's really these, I guess, unnecessary conflicts in a lot of ways that are driving the thing up.

• 56:24Speaker 05

  But you can't ignore those two things. Those are the two things people need to live.

• 56:27Patrick Bet-David?

  Brad.

• 56:27Speaker 06

  Brendan. Yeah, I mean, I would agree with everything you guys are saying. The only thing I don't understand with some of this is where's the, in my mind, perceived manipulation of the market? Because if you look at everything, when oil goes up, who decides it goes up? You know, supply and demand? We have tons of oil. How come we're not tapping into it?

• 56:50Speaker 05

  We can't use all of our oil because we have refineries that are built for heavy oil and we only have light oil. So, we.

• 56:55Speaker 06

  I know, but see, but see, this is what I'm talking about. Like, these are all, to me, excuses. Like, if you want to get off dependency, you have to, you know, be proactive. So, all these inflations, they're being allowed, obviously. It's manipulation, is my point. They want these prices to go up.

• 57:14Patrick Bet-David?

  Here's what the president had to say about it. Go forward, Rob, about the inflation. Go ahead, Rob.

• 57:31Speaker 04

  The golden age of America frankly and you're seeing it now. So as soon as this is going, don't forget you have hundreds of ships that are loaded up with oil that want to come out. As soon as they come out, we're going to have a gusher of oil and you're going to have inflation that goes way down. Now with all of this inflation is much lower.

• 57:52Patrick Bet-David?

  You can pause the wrap while this is going on, he announces supporting suspending federal gas tax. Now, what will that mean to you? This is a Wall Street Journal story where the president is entertaining the idea of stopping federal gas tax. States can do it as well. All these blue states that charge a bunch of money for gas tax, right? California being the highest one, if not the top two. Here's what the president had to say. He said he supports suspending federal gasoline tax, responding to a surge in fuel prices. I'm going to, he told the reporters at the Oval Office on Monday, arguing that gas prices will drop like a rocket. Once the war winds down, which is what we just watched right now. And the price of gas has steadily increased with the war.

• 58:35Patrick Bet-David?

  At the end of February, the average nationwide one gallon unleaded gasoline is roughly 450, according to AAA. One year ago was 314 and he continues, families need help now. This is Senator Mark Kelly, Democrat saying families need help now. If they were to get rid of the gas tax for the federal government gas tax, that's 18 cents per gallon. So if they stopped it, it would be an 18 cent difference. So if you're paying 450 right now, it would be 432. Tom, is this meaningful? Cause it's saying it would cost Trump's gas tax holiday would cost three and a half billion dollars a month. If they were to go through with this, what are your thoughts on this?

• 59:10Tom Ellsworth?

  Number one, that's nothing. It's and for to in terms of government cost 18.4 cents and 24 cents for diesel. You know, that's a help, but it's a small help. You know what I would do if I was the president? I would call on him and say, Mr. President. For all carriers that carry products to end market, for all, so you know, not moving vans, but for all of the, I'll suppose that the moving vans would help all the Californians leaving California, but for all of the carriers of product, I will give you a tax credit equal to $1 per gallon of diesel you use in the second half of this year. And I'll just give you that tax credit, very simple.

• 59:52Tom Ellsworth?

  How many gallons of diesel did you buy for all your trucks carrying fruit, oranges, furniture, dry goods, flour, wheat, corn, all of that, you transporting? You're paying 5.50 a gallon, I will give you, I'll make it $1.50. I'll give you a $1.50 a gallon tax credit. Take it off the tax at the end of the year. And now you've got $4 diesel to everything. You know what happens to the pressure on prices? Pressure on prices immediately come down. These are the things that he has in his executive order pen. And Besen, is there a Treasury? Scott, come in here a second. Let's do a tax credit, second half of the year for all the diesel producers. $1.50 a gallon, take it from 5.50 to 4 right now, what do you say? Simple. Now you don't have to worry about industry by industry. If you're carrying products to market and that cost was being carried on to consumer,

• 1:00:37Tom Ellsworth?

  let's bring the cost down. And then, you know, maybe go ahead and do the gas tax of 18 and 24 cents. But you could so quickly hit the energy cost in the core. And this is why, maybe this is why I'm not in Washington. I think it's too easy.

• 1:00:52Patrick Bet-David?

  Brandon.

• 1:00:53Speaker 05

  Yeah, no, I agree. I mean, and I think that, you know, you got half the country that lives off less than $500 a month or doesn't have $500 spent on emergency. So I like, imagine what that number went to when gas went from 2.50 to, you know, 4.50. So, yeah, I don't think 18 cents is going to make a real dent. And I, I wish he would, you know, bring a panel of people like Tom and economic advisors to like do creative ideas that are innovative, you know, that could bring the price down, like whether there's subsidies here and there. I mean, if we run a deficit of 2 trillion a year, I'm sure you could find a way to temporarily subsidize the market because that really is the biggest threat to, you know, our leverage over Iran is like the sentiment of the population of the US with their tolerance of the gas prices. Cause we are already in a delicate situation with economic stability with the middle class.

• 1:01:37Speaker 05

  So I think that's his biggest threat. So it's more of a threat than Iran.

• 1:01:41Patrick Bet-David?

  Bradley.

• 1:01:42Speaker 06

  I think the longer you, you know, push something off, the worse it gets, you know? Sometimes people just have to pull up their pants and tighten their belts and deal with it.

• 1:01:52Patrick Bet-David?

  You talking about gas prices?

• 1:01:53Speaker 06

  Yeah. I mean, at the end of the day, you can't have everything you want. It's like, you know, well, we gotta get these prices down for some of these people that don't have money. Well, again, then tap into our own reserves. And then someone says, well, we can't because of this reason. Dude, we can do anything. We're just not.

• 1:02:10Patrick Bet-David?

  Yeah.

• 1:02:11Speaker 06

  It's not that, like, like Tom, send him to Washington, shit would be fixed instantly. The problem is, is it wouldn't. He'd be killed or he would be kicked out. Because I don't know if they want it fixed.

• 1:02:23Tom Ellsworth?

  Probably in that order. Kill me first and then they, they say, then kick me out, just to be sure.

• 1:02:28Speaker 06

  But does that make me a conspiracy guy? Cause I just don't think they, whoever they is, wants it actually fixed. Because these are not hard problems to solve, but they're not solved. And they haven't been solved for years, 50 years. So, so why is the question? And the reason is because I think they don't want it fixed.

• 1:02:45Patrick Bet-David?

  Let me ask you a question. Right now, today, how many, if I was to go through your project list of projects that are eight or higher importance? How many eight or higher projects do you have on your list today? Tom, what's yours?

• 1:02:59Speaker 06

  About six.

• 1:03:00Patrick Bet-David?

  Six, Tom?

• 1:03:01Tom Ellsworth?

  You and I talked the other night, I probably about four of them.

• 1:03:03Patrick Bet-David?

  Four of them?

• 1:03:04Tom Ellsworth?

  Yep.

• 1:03:04Patrick Bet-David?

  How many do we have as a company? Did you say?

• 1:03:07Tom Ellsworth?

  Right now?

• 1:03:08Patrick Bet-David?

  As a company, you have five? What do you think we have as a company, eight or higher?

• 1:03:11Tom Ellsworth?

  I think right now, we probably have 12 projects that are eight or higher, big time. From recruitment of people to certain traction, to certain product development. It's because we're growing fast and we're driving.

• 1:03:23Patrick Bet-David?

  Right. Okay. So how many do you think he has?

• 1:03:26Tom Ellsworth?

  Trump?

• 1:03:26Patrick Bet-David?

  Yeah.

• 1:03:27Tom Ellsworth?

  Oh, my gosh.

• 1:03:27Patrick Bet-David?

  Eight or higher. How many do you think he has?

• 1:03:30Tom Ellsworth?

  Easily 25.

• 1:03:31Patrick Bet-David?

  You think it's 25?

• 1:03:33Tom Ellsworth?

  Yeah, I think he's.

• 1:03:33Patrick Bet-David?

  Eight or higher?

• 1:03:34Speaker 06

  I would say, yeah. Well, how many should he have is the question?

• 1:03:37Patrick Bet-David?

  Well, no, how many, how many do you think he has for his position to say eight or higher?

• 1:03:41Tom Ellsworth?

  I'm like an eight, like a 10 is Iran with nuclear weapons.

• 1:03:44Patrick Bet-David?

  For sure. So that's what I'm saying, eight or higher.

• 1:03:46Tom Ellsworth?

  You're way up there. I think there's 25 that are up there.

• 1:03:49Patrick Bet-David?

  You think it's 25?

• 1:03:50Tom Ellsworth?

  There's probably another 100 that are 7.5.

• 1:03:52Patrick Bet-David?

  Okay. So, so let's just say 100 plus for 7.5. You know how many that is? It's a lot. So then you have to sit there and think about which one of them, the preto theory, 80/20. Everybody wants to fix everything. By the way, I found this clip, Rob. I want to send it to you. I just literally saw it today. From the interview we had with the president, it's very interesting what he says about Iran. And I don't know if I texted it to you, I don't know if it's in our notes, Rob. If it's not, I'll just send it to you. And this was in our discussion we had with Iran. Some person reposted it. I just want to show you this on what he said about Iran. And this was shared, Rob, I just send it to you if you want to check your texts. So, so look how he answered this. Look how he answered this because

• 1:04:37Patrick Bet-David?

  he specifically says to you, this interview is, you know, last week of October. And then, right after the interview we completed, he went on Rogan. It was literally these two last interviews that he did was me and Rogan. And I asked him this question about Iran. Look at the way he answers it. Okay, go ahead, Rob. What's gonna happen to Iran with you by the, by the end of your administration?

• 1:05:00Patrick Bet-David?

  I don't, I'm not asking tactics.

• 1:05:01Speaker 04

  I would like to see Iran be very successful. The only thing is they can't have a nuclear weapon.

• 1:05:04Patrick Bet-David?

  Are you okay with the same administration and way of governing stays? Or would you like to see it go back to the seventies when Shahz was running it and Iran was one of the top three countries in tourism?

• 1:05:15Speaker 04

  Yeah, we can't get totally involved in all that, you know, I mean, we can't run ourselves. Let's face it. Patrick, we can't run ourselves.

• 1:05:23Patrick Bet-David?

  You put sanctions, that's gonna, they don't have, the people are gonna turn and flip on them. It's not gonna be a... Okay, so you see that conversation that we had. What does he say?

• 1:05:31Speaker 05

  America first.

• 1:05:32Patrick Bet-David?

  America first. We can't run, so, but he still said what? The, the position that hasn't changed, they can't have nukes. Can't have nukes, but he says we can't run them. So, you notice in his wording there, he's not talking about regime collapse or regime, regime change, right?

• 1:05:46Speaker 05

  Yeah.

• 1:05:46Patrick Bet-David?

  This takes me back to what you said. I, I, I assume they have so many projects every single day. If I'm the president and you know, every president has a Tom in their lives, if not five or 10 Toms when you're the president. He probably has 50 Toms, right? That you're, these are minds that are coming and saying, look at this, look at this, look at that.

• 1:06:05Speaker 05

  Yeah.

• 1:06:05Patrick Bet-David?

  And, and the, the hard thing right now, even with our company, we have different executives. And people will come and say what we need to do. But they're not all saying the same thing. What is the right thing for us to do today, right? So, then my choice is to take the intel from Tom. Take the intel from Paul. Take the intel from different guys that we have, all these other guys are saying, here's what we should be doing, and then say, okay. I'm gonna go with Tom. Well, you know what, Tom, I like the idea, but let's postpone it for six more months. I'm gonna go with Paul O'Shea. But to each of them, they're all smart guys. It's very, we all think we're smart and our idea is the best idea because we know what's best for everybody, right? But guess what we don't have? We don't have all the what? We don't have all the intel.

• 1:06:51Patrick Bet-David?

  And we don't have the sequencing that they're dealing with. And specifically, the weight of the sequencing lies on who? On the leader. And he has to decide which problems do we want to solve now? And, and, and one of the hardest things about solving problems is you will never, ever hit 100% of the problems that everybody thinks is the most important. You will never be able to hit it. You were always, if you think about leadership, you're 100% of the time not going to please 100% of people. That is an out. So he, because he won the election, not everybody else won the election, one guy won the election, which is who? Him. He's the one that gets to say, at this point, I think this is what's most important. At that point, I think this is what's most important.

• 1:07:34Patrick Bet-David?

  And you'll listen to everybody, listen to the market and see what you do next. I will tell you, if this affordability goes like this longer, this is a bigger deal than they're thinking. Tom said it's a very, very important thing about 15 minutes ago. When, when we looked at the, what farmers are dealing with today and the price of, uh, the price of a fertilizer that's coming from straight of home, was the price of fertilizer has gone up. And so the margins for these farmers have gone from 5 to 10%, these guys barely make any money to now they're going in the negative 5 to 10%. Farmers don't make money, the bigger farmers are gonna buy them out, they're gonna knock them out. And then you and I are gonna feel the prices when? Not today. You're gonna feel the prices when? 12 months from now.

• 1:08:19Patrick Bet-David?

  You know, 18 months from now, 6 months from now, this is a 2027 problem already. So how do you address that? So these, these are things that, you know, he has to, and, and when you say stock market, Wall Street is not Main Street. There's a big difference between Wall Street and Main Street. Like, I, I'm doing great financially, but I'm Wall Street. Main Street is not doing great. Main Street is trying to get married. Matter of fact, let me go to this next story here. And, and we'll talk about Gen Z's, what they're doing with their careers right now. When I look at Gen Z, okay? The rise of income stacking, why Gen Z is juggling multiple jobs. Okay? And the story right next to it is a changing job market leans against men. What does that mean? What do you mean leans against men? Wait till you see this data, Rob. I don't know if you have it or not. Okay, you have it.

• 1:09:04Patrick Bet-David?

  Fantastic. Watch this here. Let me read both of them on what men, Gen Z men in America are dealing with today. First story that we have. Okay. Tamika Gomillion is working two jobs, an usher at an event space and a receptionist at the student center while finishing her computer engineering studies at the University of District Columbia. The 35 year old said she's juggling multiple jobs out of financial necessity and with the rising living expenses, she expects to maintain several jobs. Even after she lands a job on her career track, one job would be easier, but I know if I have another, that's a check I can either put on the side or could just be my play money, multiple jobs. Gomillion is among rising number of Americans who are income stacking or taking a, taking

• 1:09:48Patrick Bet-David?

  on multiple jobs to build financial security. After dropping during COVID, the share of people working more than one job has increased over the past few years. Government data shows in April, nearly 8.4 million US adults or about 5.2% of the workforce were working multiple jobs, according to the Bureau of Labor Statistics. It's important context to look back and see that actually around COVID, that number plummeted from pre-COVID era to historical because you gave them free money. Like, you know, that's the part that they don't say. You send UBI, you send money to them that they weren't dealing with. Now, watch this. This goes to the next one, which is a changing job market leaning against men. Rob, if you want to pull up that report, the data that you had. This one right here, if you can go a little bit lower to the chart, Rob. Look at this chart.

• 1:10:31Patrick Bet-David?

  Cumulative change in non-farm jobs since December of 2024. Okay? That's the plus minus for men and women. And it's 400,000 more jobs by women and jobs for men decreased. Now, why is this happening? If there's one chart that we look at, Rob, is college degrees for women versus men. And I don't know if it's in the same chart or not. Let me see that one right there. Employment as a share of population, 1950s.

• 1:11:00Patrick Bet-David?

  Eighty-five percent men to thirty percent women. And then bring you to COVID, forget about COVID, so make the drop of COVID. And then go to today. Fifty-five percent is where they're at. And sixty-five percent, this is according to the Labor Department. We're getting fewer and fewer jobs for men and more and more jobs for women. That it's kind of flippin'. And when you're looking at this, Tom. Uh, I saw data today. That Gen Z men, sixty-two percent of Gen Z men ages fourteen to twenty-nine is Gen Z. So go eighteen and up, the adults, like, you know, adults, Gen Z. Sixty-two percent of them have taken themselves out of the dating market. They're not even looking.

• 1:11:40Speaker 05

  Sixty-two?

• 1:11:40Patrick Bet-David?

  Sixty-two percent. You know what it was in twenty nineteen?

• 1:11:43Speaker 05

  What?

• 1:11:43Patrick Bet-David?

  Fifty-one percent. So it's gone from fifty-one percent to sixty-two percent. Now, what do you think it is for women? Gen Z women? It's thirty-four percent. I mean, sixty-six are looking. But men are like, we're out. You know what the average date is today? That Gen Z pays for dinner when they take a girl out?

• 1:11:59Speaker 05

  What?

• 1:11:59Patrick Bet-David?

  Two hundred and five dollars. For millennials, it's two fifty-nine. The average in America is one eighty-nine. You want a Gen Z to take a girl out for two hundred and five dollars? Like, what's two hundred and five dollars after tax money? That's two fifty, three hundred dollars pre-tax money. So think about what they're dealing with today. And we need these guys to be willing to get married, to be willing to have kids, to be willing to date. So it's a little bit of an issue, Brad. I'll come to you first. What, what are you thinking when you're seeing these numbers with young men and specifically Jay-Z? Working multiple jobs and being in the dating scene?

• 1:12:29Speaker 06

  I see it as a positive sign. Means, you know, the entitlement's going away. These, these Gen Z guys, you're assuming that they're paying for dinner, first of all. Second of all, I see more women getting jobs because I think, uh, less men are, are, you know, taking that masculine position. So, I see it as a positive, uh, that, that they're doing it only because it shows me that the entitlement is starting to, starting to fade. You've heard the whole, uh, tough times make, you know, strong men, strong men make good times, good times make weak men. I think that cycle continues. And I think that's a sign that it's, we're starting to.

• 1:13:03Patrick Bet-David?

  What cycle are we in? Weak men?

• 1:13:05Speaker 06

  We're just coming out of weak men. Weak men cause bad times.

• 1:13:09Patrick Bet-David?

  And then bad times create strong men, and then we're back at it again.

• 1:13:12Speaker 06

  That's a sign of stronger men coming.

• 1:13:14Patrick Bet-David?

  So are you saying Gen Z are weak men?

• 1:13:16Speaker 06

  Yes.

• 1:13:16Patrick Bet-David?

  You are saying that?

• 1:13:17Speaker 06

  I think they're entitled. And not only that, it's like, you know, that's why more women are probably getting jobs. They have to. The men aren't stepping up, or weren't stepping up. I think they're starting to.

• 1:13:26Patrick Bet-David?

  Interesting. Interesting. Brent, do you agree with them?

• 1:13:29Speaker 05

  Um, I don't think it's a good thing for society because I would say, what, do you think it's better if our society's having more or less kids with people who are married together?

• 1:13:38Speaker 06

  Well, I would think there, it's better for more kids.

• 1:13:41Speaker 05

  Right, yeah. So this is drastically reducing the amount of kids that are being born because, you know, since it really got the gold standard, cost of living skyrockets, two people have to work. You know, you see that chart, it skyrockets in the seventies when women start entering the workforce and then the state is raising your kids instead of the mother at home or the parents at all. So it's collectively like having a bad effect on the nuclear family, the amount of kids you could have. So in that regard, the government's paying more money than it should is causing this problem. And yeah, sure, some of it's just the trend that's going with, there's more jobs that are, I guess, built for women, like administrative jobs, jobs like in an office. Uh, but regardless, I would say that the best investment you can make is into yourself and like make yourself as valuable as possible. Like, there is going to be less people who have like a high standard of living these days than there was back in the day.

• 1:14:26Speaker 05

  Like back in the day, you could have like a normal job and have a good standard of living. Today, you kind of have to be a little bit more exceptional to have a good standard of living. But I think not everybody's going to embrace that, but you should embrace as much as you can. You should make yourself as valuable as you can. That's how you overcome this, and that's the attitude I took.

• 1:14:41Speaker 06

  But it's easier to make money now. It's easier to make money than it used to be. You got the internet, you got social media. It's so easy to make money, it's ridiculous.

• 1:14:49Speaker 05

  Right, and it's not giving you, like, if just doing it the way everybody else does, it's going to put you in a bad position, but before you get away with that. So yeah, like now it's easier to do what you're saying with that, but less people are going to do it.

• 1:14:58Speaker 06

  Yeah, so, so when I see women getting most of the new jobs, well, that's, I believe, just indicative of, that's because, you know, they need to. Like, if, if you're not going to take care of a woman, then they're going to take care of themselves.

• 1:15:10Patrick Bet-David?

  Rob, can you pull up that degree chart of women versus men? Look at this here. Also, did you, you just had it up a minute ago? Okay, there you go. Sure, a population ages 25 to 54 with a bachelor's degree. Okay, Rob, uh, blue is women, black is men.

• 1:15:25Speaker 05

  Look when it skyrockets.

• 1:15:26Patrick Bet-David?

  Not black men, it's just black is representing men. So if you look at that chart... In 1960s, look at the numbers. Okay, women, 7%, men say 13, 14%. And then when did it flip? 2002, 2003. And then now, 47% women, 38% men. Some may even say, there's a reason why women are being brainwashed and they are where they are because they're around people that hate capitalism, hate all that stuff and they're bashing it. But at the same time, for a job, getting a bachelor's degree, that's headed in a different direction. Tom, what are you up with this?

• 1:15:58Tom Ellsworth?

  So, I got two comments here. First of all, the online world allows people to immerse themselves and not have to go outside. You used to go out to places and you would meet people. I don't mean spending money on the clubs and trying to get behind the velvet rope and all that crap. I mean, you used to go out to the college football game. And you would meet people. Your fraternity, we'd go hang out with the girls from the sorority, we'd go meet people. And a combination of video games and the internet, it is a fact, has pulled men inside and made weak men that are incapable of having discussions and outside in public, scared to walk up to talk to a girl, and they're immersed in video games and the online world and now OnlyFans, for this seemingly perfect AI-generated model.

• 1:16:42Tom Ellsworth?

  And now we're finding out that a quarter of the AI models right now are generated. Oh, my daughter never goes into AI. No, she doesn't. She got a computer science degree and made two people that are making more money than she would to, doing things there. You have all of this mess there, so the men are there. Then, you are having a surge right now, we're having a demographic surge, where the number of new jobs have been over-indexing in healthcare for five years. Why? Now, and I mean healthcare, nursing services, aging services, home helpers, task rabbits, all those things going there, because the boomers are retiring and they got the money to pay for all these services. So, and those are overwhelmingly female jobs. So now you have that wave going on.

• 1:17:26Tom Ellsworth?

  But on the other side, I see bright lights. Right now, do you know what percent of businesses fail in the first year right now? 2026 stats, Q1. It'll shock you. 22%.

• 1:17:38Patrick Bet-David?

  Okay.

• 1:17:39Tom Ellsworth?

  You know what that was 20 years ago?

• 1:17:41Patrick Bet-David?

  Eighty?

• 1:17:41Tom Ellsworth?

  Fifty, but yes. It was 50%. You go back to the late 80s, it was 80%. Guess what you have now? More research. AI gives you more certainty, more options. Wait, Instagram, this'll do it, so I'll make something on Instagram? And you follow other people's lead, you have an interesting product? And it makes it. Your side hustle makes it. So you have an 80% chance of first year survival for businesses now, which is a huge change. So for me, that is what they're taking advantage of because my fourth wave is it's so expensive for housing. They feel like they have to stack it, but now they're able to do it. We now have 10 million people in America with two jobs. 55% of them are full-time, part-time.

• 1:18:26Tom Ellsworth?

  30% of them are part-time, part-time. And 15% of them are actually full-time, full-time. People are figuring out a way to work 80, 90 hours a week with two full-time jobs. And by the way, this is just the W2 employment that FRED, Federal Reserve Economic Data out of St. Louis.

• 1:18:42Patrick Bet-David?

  Imagine what it is for 1099.

• 1:18:43Tom Ellsworth?

  Right. This is only the stuff we can count. Imagine everything else.

• 1:18:47Patrick Bet-David?

  Tom, let me ask you this. Let me ask you this.

• 1:18:48Tom Ellsworth?

  Sorry to get squishy here, Pat.

• 1:18:49Patrick Bet-David?

  Tom, question for you. Bailey goes on a date with a guy. What do you tell her about the bill?

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• 1:20:56Tom Ellsworth?

  Well, there's no room in her purse for money because she has a 9mm, so it's...

• 1:21:01Patrick Bet-David?

  Well, what do you tell her? What do you tell her for it?

• 1:21:03Tom Ellsworth?

  Oh, you mean, no, what do I tell her?

• 1:21:04Patrick Bet-David?

  Yeah, like advice, that, should he pay the whole thing?

• 1:21:07Tom Ellsworth?

  No, I tell her, don't create the realm of expectation and reciprocity because that lives. You know, hey, I paid for dinner, you know, we're gonna hook up, what are we gonna do here? First of all, I teach her to reason and resist, to stay away from people that, the men that think that way.

• 1:21:24Patrick Bet-David?

  But simple advice for me, do you tell her that she needs to expect for men to take the 100% of the bill?

• 1:21:29Tom Ellsworth?

  No, I tell her, I say, listen, owe nothing to anybody. Have no expectation.

• 1:21:34Patrick Bet-David?

  So if she goes to dinner with her guy, do they split the bill?

• 1:21:38Tom Ellsworth?

  I want her to split the bill. I don't want her, I want him to have any expectation.

• 1:21:43Patrick Bet-David?

  Okay, so where are you at with that? You're the one that takes care of everybody's bills. Because I've seen that video. You'll take care of the girls, their husbands, their friends, all that stuff. But imagine if you got a 23-year-old son, what do you tell him?

• 1:21:54Speaker 06

  A son?

• 1:21:55Patrick Bet-David?

  Yeah.

• 1:21:56Speaker 06

  Do you pay the bill?

• 1:21:57Patrick Bet-David?

  You pay the bill.

• 1:21:58Speaker 06

  I'd rather ask about the daughter.

• 1:22:00Patrick Bet-David?

  What do you do with the daughter?

• 1:22:01Speaker 06

  My daughter, I'll give her all the money that she needs to pay any bill that she might encounter. And I want her to pay it very quickly if the gentleman doesn't do it. And then come home, because that guy is no longer an option. Like, she can pay the bill, but that should be the last time she goes out with that guy.

• 1:22:20Tom Ellsworth?

  Bingo, thank you.

• 1:22:21Patrick Bet-David?

  Okay, so that's a fairly a simple way of looking at it, right? But your expectation is he should take the bill?

• 1:22:26Speaker 06

  100%. Men should protect and provide for women and children, period. Period. There's no other conversation to have.

• 1:22:34Patrick Bet-David?

  Yeah.

• 1:22:35Speaker 06

  That's why we're here.

• 1:22:36Tom Ellsworth?

  You asked me about dates. If things become serious, I expect him to be gallant. I expect him to be serious. I expect him to provide.

• 1:22:44Patrick Bet-David?

  Yeah.

• 1:22:44Tom Ellsworth?

  So as things get serious and go over a certain line, my expectation changes. But just casual, maybe we'll grab lunch, maybe we're investigating each other. I'm with you 100%. I don't want her cornered and I don't want her to be, you know what I'm talking about, the expectation.

• 1:22:59Patrick Bet-David?

  You know, yesterday we're having a conversation. We shot a video specifically about this, on how the dating scene is. And you know what I told him? I said, "Look, everybody has a different reason why you're attractive and girls come to you." So, if you don't have a way to create you being attractive, you know, that's on you. And by the way, it's not just looks. Like, I'm not telling you, "Go grab a hammer, start hitting your face." But that's one way. But that's physical, that's looks. Some it's body, some it's money, some it's the family you're a part of, some it's connections, some it's your leader, some it's your smart. Like, imagine Tom with his intellect. How do you think Tom flirted with girls? When I think about Tom, I've seen Tom.

• 1:23:42Tom Ellsworth?

  Mm-hmm.

• 1:23:42Patrick Bet-David?

  And he's actually very good.

• 1:23:43Tom Ellsworth?

  Yeah.

• 1:23:44Patrick Bet-David?

  Because Tom uses his sense of humor. Tom's funny and self-deprecating in a very funny way, but then he's firm as well. So Tom's got an element of, even Tom, that you may be like, "Well, Tom, yeah." But he learned his game in a different way, right? Now Brad, Brad Deon, on the other hand, he just keeps his mouth shut. He shows up and they're like, damn, right?

• 1:24:03Tom Ellsworth?

  But he's got that Barry White voice.

• 1:24:04Patrick Bet-David?

  That's, that's right. So, but, but the point is, what is your leverage? What, what is the thing that you're creating in a marketplace where they're coming to you? And then if you're just playing this game to wanna hook up and have fun and all, well, let's just go swipe right and do your thing. But if you're looking for a wife and somebody to be your wife, a girl to have kids with and all that stuff, you may also have to be looking at different places to get a better qualified market to get into. The data shows it on what, you know, what people used to meet girls in the 30s versus today. In the 30s, it was all family, friends and work. Today it's 65, 70% is dating online is where they're, where they're seen. But you know what is the highest rate of marriage working out? Is if you met your wife through work or through friends and family?

• 1:24:46Tom Ellsworth?

  Yeah.

• 1:24:47Patrick Bet-David?

  Highest percentage of working out. Because if you, say you work at a company and you're here for seven years. Seven years later, how many girls have come and gone? A lot.

• 1:24:56Tom Ellsworth?

  Yeah.

• 1:24:56Patrick Bet-David?

  But imagine if there's these four girls that you've been watching and they're still here. You know their dating history, you know how they handle themselves during good, bad times. You, you already have history with this person.

• 1:25:04Tom Ellsworth?

  Right.

• 1:25:05Patrick Bet-David?

  So it's no longer, hey, what do you know about this girl in Miami, right? So now you know if you're dating, you kinda have an idea about each other. So it's also where do you look to find somebody in the relationship style? Let me get to next story.

• 1:25:16Tom Ellsworth?

  What a great point you made there. Think about family, friends and family, true filtering.

• 1:25:21Patrick Bet-David?

  Mm-hmm.

• 1:25:22Tom Ellsworth?

  And think about online dating, marketing.

• 1:25:25Patrick Bet-David?

  Yeah, there is no filtering in online dating.

• 1:25:27Speaker 06

  Well, there's also two, you know, a lot of transparency digitally. So before you wouldn't know her body count. Now you can find it and that, that, that might ruin a relationship as well.

• 1:25:36Patrick Bet-David?

  If you get into business of body count, I think 80% of marriages wouldn't work out overnight. It's like, wait, I thought you said you only had two boyfriends. What is this 28? Well, babe, that's not true. But this says 28, you went on a run one time in 2002. No, I would never do that. Well, why, can you imagine? That technology comes us, some shit's gonna happen, by the way. Divorce rate's gonna go through the roof.

• 1:25:58Tom Ellsworth?

  Oh, you see celebrities. I mean, Lewis Hamilton just bought a used car, apparently didn't care about the mileage.

• 1:26:03Patrick Bet-David?

  Yeah. And by the way, the, the same's gonna happen the other way around. The, the girl's like, I thought you said you've been with 32 girls. It said only two. Was that your second?

• 1:26:11Tom Ellsworth?

  No, no, that's just.

• 1:26:12Patrick Bet-David?

  Can you imagine?

• 1:26:13Tom Ellsworth?

  And you're a rock star. Now that was last summer's tour.

• 1:26:17Patrick Bet-David?

  All right, let's get to the next story here. Next story I want to get to is more sellers than buyers. Let's talk about real estate. So here's a story that came out about there's more sellers selling homes than buyers. And, and this is a scary thought. So home sellers outnumbers buyers by 630,000 in a record gap. According to Redfin, Rob, if you want to pull this up, I think it's on page 20. I don't think you have a video on this or anything. So let me kind of go through the stats and then I'm going to come to you guys with this. So the US housing market has shifted decisively in favor of buyers with a record 630,000 more home sellers than buyers in February.

• 1:26:54Patrick Bet-David?

  The imbalance of 40 63, 46.3% more sellers than buyers marks the widest gap since the company began tracking it in 2013, up sharply from 29.8% earlier, a year earlier. Redfin classifies any market with more than 10% excess sellers as a buyer's market or threshold the nation has exceeded since May of 2024. We're seeing a lot more inventory on a market compared to the last two years. Uh, uh, because the mortgage rates lock in effect is easing and there is a lot of new construction, says Justin Gomez from Redfin Premier Real Estate Agent, Omaha, Nebraska. Two years ago, people were offering 15,000 autos over the asking price, just got a home with multiple offers everywhere.

• 1:27:35Patrick Bet-David?

  The surplus of sellers gives buyers who can afford today's price significant negotiating power. Housing costs, costs, uh, the high housing costs and economic uncertainty have pushed many would be purchasers to, to the sidelines, shrinking the buyer pool. The number of home buyers fell 2.4% in February. So Tom, when you're looking at numbers like this, and it says the imbalance in different markets, meaning Miami let the nation with 163% more sellers than buyers, followed by Nashville, 120% more sellers than buyers. Austin at 112, Palm Beach at 110, San Antonio at 104. What do you think is causing this? Is it just interest rates?

• 1:28:12Tom Ellsworth?

  No, no, no. It's interest rates and savings. Right now, the savings rate used to be 8%, 9%. Personal savings rate has gone down under 5% right now. So people are saving less on a monthly basis, which means you're saving less for a down payment, number one. And number two, when I saw the number on a national basis, I believe homeowners insurance on a national basis, and Rob fact-checked me on this, I'm going to say a number here, but we need to find it. I thought it was 22% increase in homeowners insurance on a national basis since 2022. So four years, your homeowners insurance comes up. Well, wait a minute. That's a hidden cost of buying a house. Now, the homeowners insurance is more, and Rosen

• 1:28:56Tom Ellsworth?

  Ever, there it is, 21%. No, that was just that year alone. So it's huge. That's a hidden cost. So the interest rate affects your payment, Pat, but then your homeowners insurance is also up, and the overall cost of the house was up, so that the number of homes that are available for your first-time buyers and mid-tier buyers is actually even lower and worse than this chart. Because to find a mid-tier home in core city, you can't. And if you take a look what's being sold in Miami, where there's more sellers than buyers, go take a look at what's actually being sold. Look at the number of million-dollar condos.

• 1:29:37Tom Ellsworth?

  Kid coming out, 30-year-old kid just gets married, he and his wife have a college degree and good jobs, they can't buy a million-dollar condo in Miami and pay the HOA, which will be $1,000 bucks a month or more. So there's a lot of things going into it. It's not just the interest rates, Pat. It's the replacement cost of the house, driving the homeowners insurance, and then it's the property tax, because it's a higher-priced home in the first place. Because if you look back at those lines, Rob, go back, when, scroll back down, when red's over blue...

• 1:30:17Tom Ellsworth?

  Prices are going up when Blues over

• 1:30:20Patrick Bet-David?

  You're overpaying for everything.

• 1:30:22Tom Ellsworth?

  And so what happened in 2021 to 2023? We were coming out of COVID, we could come out to play, and those lines drove the price of the homes way up, and those prices have not come down. They've come down a little bit, like Austin, Texas, it came down. But Austin, Texas had emergency building permits, and they overbuilt. Go take a look at the inventory in Austin. Rents are now moderated, and the number of homes are there. Guess what? Oh, my gosh, we had a problem. We had a solution. Brad, you build homes, what could I do? I need permits faster, and I need labor. Okay, we'll help you with the permits faster. So Brad works for Lennar, gets another thousand homes built around affordable areas of Austin.

• 1:31:06Tom Ellsworth?

  Now that's inventory, supply. All of a sudden, the prices moderate a little bit, and everybody can find a home. Now we just need jobs. Oh, SpaceX, Elon puts things here, Dell expands. Austin has got its issues, but it's an example of where things moderate back and forth, Pat. And people can say in the comments, I'm in Austin, it's not what you say, it's better. It's better than other places. So if you're in Austin and you're still having a tough time, God bless you, I understand. But when you compare what you're facing to other areas, Austin's getting supply back in the market.

• 1:31:38Patrick Bet-David?

  Brandon, thoughts?

• 1:31:39Speaker 05

  Yeah, so I sent you a chart, Rob. It's, and it's interesting this chart doesn't go back to 2008, because I wonder what the gap would have looked like then. But, you know, part of that problem was the bond side, where people couldn't pay for the mortgages. But

• 1:31:54Tom Ellsworth?

  It was artificial supply of buyers drove price, because they were able to get NINA loans.

• 1:31:59Speaker 05

  Right.

• 1:31:59Tom Ellsworth?

  So you had more buyers because you were giving easy qualification.

• 1:32:02Speaker 05

  Mm-hmm. And then a ton of houses just hit the market suddenly when they had to foreclose on them. But, yeah, this makes me wonder if prices will ever substantially go down again without a crisis. I mean, you know, because they're covering it as if like there's this huge gap between sellers and buyers, but it's not even making a dent in the price. But like what did make a dent in the price was dropping rates to zero and injecting a couple trillion dollars in the economy. I mean, like, if you look at this, it went From 370 on average to about 516 in just five years. So, I mean, you know, that's

• 1:32:33Patrick Bet-David?

  And hasn't come down.

• 1:32:33Speaker 05

  Yeah, it's not coming down at all. And like, this is like, if it's not now, when is it gonna be?

• 1:32:37Speaker 06

  So here's the thing. Is this story making you, if you're recommending Bradley to a young man who has money to buy, should you buy or should you wait?

• 1:32:50Patrick Bet-David?

  Say that once again?

• 1:32:51Speaker 06

  If you're a young man, you're 30 years old, and you have some money to buy a house, okay, you can buy a half a million dollar house today. Should you buy or should you wait? Hard question. I would personally tell them to wait, only because I do believe those prices have to be coming down. Because again, if there's so many sellers, the price is supposed to drop, but they're not. So why is that? Well, then I would just wait for that purpose. But it's also less desirable to own nowadays. You know, the younger people, they understand freedom. They understand, you know, anchors. And a home is an anchor, you know? There's more sellers than buyers, right? Everybody wants to sell their home. What for? Well, what are they gonna buy when they do?

• 1:33:34Speaker 06

  And if there's not enough buyers to sell your home, you're stuck, aren't you?

• 1:33:37Patrick Bet-David?

  And you had a low rate. So do you want to give up the low interest rate? Do you want to give that up? Who knows? And you gotta, you gotta keep going and, and, you know what the and, and is? Is the following, is where are people moving to today? Red or blue states?

• 1:33:50Tom Ellsworth?

  Red.

• 1:33:51Speaker 05

  Red.

• 1:33:51Patrick Bet-David?

  And have we seen these numbers, what it looks like? It's astronomical that they're moving to red states over blue states. You think that's gonna slow down anytime soon?

• 1:33:59Speaker 05

  No.

• 1:33:59Patrick Bet-David?

  So if it's not gonna, and by the way, what types of people are moving to red states? Those that just want government entitlement programs, or those that are coming with income and money and

• 1:34:06Tom Ellsworth?

  Employed with capital that's getting taxed and chased.

• 1:34:09Speaker 06

  Yeah, like read those, read those cities again. Those are all those.

• 1:34:13Patrick Bet-David?

  Miami, you know, you know, certain markets that, so then the Palm Beach. So then your question becomes the following. Do you want to compete against the guys that are coming here from New York, Illinois, DC, all these places? Do you want to? Because they're coming here saying, wait, I'm gonna buy a property in New York, I would pay this much, and for a lot of them, I'm gonna pay this much. I'll pay 30 grand more, I'll pay 20 grand more, I'll pay 40 grand more, I'll pay 80 grand more.

• 1:34:39Speaker 05

  Yeah.

• 1:34:40Patrick Bet-David?

  Because it's still less than what they're accustomed to.

• 1:34:41Speaker 05

  No, this has changed me. So I was from the mindset of like, last year, like, oh, it's too expensive right now, it should come down like 10% at least, but now seeing this, like, because Miami's one of the worst cases of there being this gap between sellers and buyers, so now I'm like, alright, fine, I'm gonna do it now if it's still not coming down.

• 1:34:54Patrick Bet-David?

  But the part of it where you're screwed is the following, you're in the state that everybody wants to move to.

• 1:35:00Speaker 05

  Right.

• 1:35:01Patrick Bet-David?

  You're in that state.

• 1:35:02Speaker 05

  So it's like, get in now if it's not going down yet.

• 1:35:03Patrick Bet-David?

  Yeah, this is not a state where, I mean, so what is the likelihood, Tom, that the governor, the next governor of Florida is gonna be a Republican? What's the likelihood?

• 1:35:12Tom Ellsworth?

  Uh, I think it's-

• 1:35:13Patrick Bet-David?

  Is it a 55%, 60%?

• 1:35:15Speaker 05

  60.

• 1:35:16Tom Ellsworth?

  No, no, no, I'm at 80, 85%.

• 1:35:18Patrick Bet-David?

  So Byron Donalds is gonna be the next governor to the state of Florida?

• 1:35:21Tom Ellsworth?

  Yeah, not getting support from DeSantis, another topic for another day, but Byron's got a head of steam and a lot of money.

• 1:35:27Patrick Bet-David?

  So if you got a guy like that that's next, so that means this state stays blue for another, I'm sorry, stays red for another two terms?

• 1:35:35Speaker 05

  Mm-hmm.

• 1:35:36Patrick Bet-David?

  This is not gonna slow down.

• 1:35:37Speaker 05

  Yeah.

• 1:35:38Patrick Bet-David?

  They're gonna keep coming, and in the interim, let's look at Mamdani, what Mamdani's doing in New York. You wanna see this one here, folks? This is entertaining, to say the least. Okay, so let me read this to you, let me find a page. Here we are, watch this here, very, very interesting on what's going on with this. Okay, so Mamdani comes out and says, guess what? We've officially balanced the budget. And all the socialists are like, dude, the guy is crushing it. What a frickin' rock star. And then behind, is this the video talking about he balanced the budget?

• 1:36:10Speaker 05

  Yep.

• 1:36:11Patrick Bet-David?

  Go ahead, Rob.

• 1:36:12Speaker 05

  New York, it's executive budget season. I am proud to announce that our city's budget is fully balanced. This budget isn't just about numbers on a page, it determines if our libraries get funded, if a street is safe to cross, if snow is actually shoveled after a storm, and you deserve to know exactly how we got here. We inherited a $12 billion budget deficit. We are speaking about a fiscal crisis at the scale greater than the Great Recession. Was the Great Recession-

• 1:36:35Speaker 06

  Great recession.

• 1:36:36Speaker 04

  Many said the only way out of this was slashing services and passing an austerity budget. We rejected that. After months of painstaking work, that deficit is now zero. Our city is now on firm financial ground. We achieved this in two major ways. Increasing revenue and support from Albany and cutting waste and finding savings here in New York City. Thanks to Governor Hochul, State Senate Majority Leader Andreas George-Cousins, Assembly Speaker Carl Hasty, and months of organizing from New Yorkers, we taxed the rich. That tax alone will raise half a billion dollars per year. And that's not all. Thanks to Governor Hochul and our partners in Albany, we finally got a better deal for New York City. We're getting billions more from the state to help tackle the gap.

• 1:37:13Patrick Bet-David?

  You can pause it right there. You know how much they got? They got $4 billion. So, Tom.

• 1:37:18Tom Ellsworth?

  Per year?

• 1:37:18Patrick Bet-David?

  Per year. So, Tom, yeah, 8 billion last two years. So, when people are looking at this, they're like, okay. You know, how good of a spin job can you do to sell it as if everything is going right? What is he not telling in these clips, Tom?

• 1:37:32Tom Ellsworth?

  Well, he's not telling you how. He's saying, "We got help from Kathy Hochul, and we think it's important to shovel snow." It's a no. I want to see him go to the board and say, "This is how we balanced it." I, because, number one, he had a surplus from Eric Adams, who you know, Pat, and has spoken to us. So, we're not out of school here. We had direct conversation with Eric Adams. We know about the surplus that he, that was, that was brought in. Then he gets money from Albany. That's, guess what? That's not balancing the budget. That's Brad, my daughter, call us, our daughters, call us from college, and she's spending 500 more a month. I agree to give her 400 more a month.

• 1:38:15Tom Ellsworth?

  Brad gives his daughter 400 more a month. And then she meets a nicer guy, and he starts paying for dinner. They didn't balance the budget. They just moved things around, and other people helped. That's what's going on. And then this guy here, I quoted this study, and then this guy comes to the microphone two days later about how, about education in New York is not getting any results. So, he didn't tell people how and what he did. He leaves out the fact that supposedly, what was the gap from Eric Adams? The exact number? 3.6? Rob, tell me what that gap was. Because if he gets $12 billion and he claims 4...

• 1:38:54Patrick Bet-David?

  That was 4.69. I don't know why I think it was 3.6. Could have been 3.6.

• 1:38:57Tom Ellsworth?

  That's what I'm saying. Please backcheck me what I'm remembering, what Eric Adams left him.

• 1:39:03Tom Ellsworth?

  Eric Adams left them 5 billion.

• 1:39:06Patrick Bet-David?

  Yeah, I thought it was 4, 6, 9.

• 1:39:07Tom Ellsworth?

  Okay, so 5 and 4 from the state is 9, which means what did he cut and what did he change? And then he got a half a billion from, so, let's do it. 5 and 4 is 9, a half billion from the millionaire tax is 9 and 1/2. And so 12 billion deficit? He only had to find 2 and 1/2 billion? What sleight of hand did he do with pensions? I want to know. What did he do with certain services? He's quoting that we have all these services. Where's the rest of that? I want to see it. Because it shows that they actually did nothing. What percent is 9 and 1/2 on 12?

• 1:39:44Patrick Bet-David?

  He says he attacked the rich.

• 1:39:46Tom Ellsworth?

  Yeah.

• 1:39:46Patrick Bet-David?

  What'd you say?

• 1:39:47Tom Ellsworth?

  9 and 1/2 on 12 is what percent?

• 1:39:48Patrick Bet-David?

  75%.

• 1:39:49Tom Ellsworth?

  75% came from somebody else.

• 1:39:51Speaker 05

  Yeah.

• 1:39:52Tom Ellsworth?

  He didn't do it. So, Mr. I'm the great mayor and doing all this. This is sleight of hand. I'm just getting upset.

• 1:39:58Patrick Bet-David?

  Uh, Brandon?

• 1:39:59Speaker 05

  Um, yeah, with all that aside, I'm most mad about how long it must have taken him to do that video. Because I mean, like, he has different cuts and everything. I mean, do you think it took him a couple hours to do it? Because he's firing these off like every day, like a fully edited TikTok.

• 1:40:14Patrick Bet-David?

  For sure it took him a couple hours.

• 1:40:15Speaker 05

  Yeah, so I mean, like, that pisses me off.

• 1:40:17Patrick Bet-David?

  It's a great video.

• 1:40:18Speaker 05

  It is, and he's doing all the cuts the right way, where it'll do well on TikTok. So, yeah, he is good. He's even better than Newsom with the spin job. Um, but, I mean, all the states, like, they run the state the same way that the United States runs the country. You know, like, they spend money on things they shouldn't spend it on, like the migrant situation. They have to do police overtime because, you know, there's so much crime. So, they have to spend extra money on that. The healthcare situation, like, that's more expensive than it should be. So, um, I mean, think about how much money New York generates. Like, just the city alone generates like 60% of the state's entire GDP. So, I mean, just the fact that they don't have enough money for what they need to do shows that they're not managing it the right way. And I mean, you should have certain requirements to run a state.

• 1:40:58Patrick Bet-David?

  So, this is the part when I sit there and I think about, by the way, did he do the free buses? Did he do some of these programs that he talked about? I haven't heard of it. Nobody knows, right? It's been kind of quiet on some of the programs that he was talking about. But if you want to go back to that clip, Rob, of that, uh, uh, uh, right there to the left, right there, watch what the cost is right now per kid that goes to school. If, if New York State just decided to give the money, New York City, if they just decided to give the money to the parents, you know how much money would go back to the parents? This is how much education costs in New York right now. Go ahead, Rob.

• 1:41:31Speaker 04

  New York City spends roughly $37 billion a year to educate about 850,000 kids. That's over $42,000 per child, per year. And the results are abysmal. Two-thirds of 4th graders can't do math properly, and almost three-quarters can't read at grade level. You don't have to be an expert in fractions to know that is bad. Let's agree that the political reality is we cannot reduce the amount of public education spending at all. Fine. What can we do, Mr. Mayor? Is tell every mom in New York City that the $42,000 currently spent on that terrible education is going to be her money.

• 1:42:16Speaker 04

  Here comes...

• 1:42:18Speaker 06

  This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed sponsored jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs. Low energy, unfocused, foggy? You might be dehydrated. Gatorade Zero powders have been scientifically designed to help improve hydration balance in the body. With a clinically proven electrolyte blend and no artificial colors or flavors, great

• 1:43:03Speaker 06

  tasting hydration, no matter where you're going. Shop now online or at retailers nationwide. Gatorade: Hydrates Better Than Water. Is it in you? Symptoms noted are signs of mild to moderate dehydration. Consult a healthcare professional if symptoms persist. Now, more than ever, we need someone on our side. But Rob Whitman?

• 1:43:22Speaker 07

  Whitman's votes drove up costs, cut Medicaid, and risked 350,000 Virginians' health care to pay for tax breaks for himself and his donors. He's not on our side. Shannon Taylor will fight corruption, cut taxes, and bring down costs. This November, vote for Shannon Taylor. She's for us. Paid for by HMP, the House Majority PAC dot com. Not authorized by any candidate or candidate's committee. Your website can do more with Base44. Describe what you want in plain language and build a site where people can book with you or buy from you. Payments, data, security, and hosting are all built in.

• 1:44:00Speaker 04

  Go to base44.com. USAA knows dynamic duos can save the day, like superheroes and sidekicks or auto and home insurance. With USAA, you can bundle your auto and home and save up to 10%. Tap the banner to learn more and get a quote at usaa.com/bundle. Restrictions apply.

• 1:44:24Speaker 04

  Here comes some more advanced mathematics, some more long division. We are going to give her half, 21,000. That's 42,000 divided by 2.

• 1:44:35Speaker 04

  Every year, she will receive that as a voucher for her child to attend whatever school she wants. We are going to take the other 21,000, put it in a real account, not a fictional social security account, for which her child is the sole beneficiary. If it returns a paltry 2% over the next 13 years, that child will have, will graduate high school with $300,000, enough for college, trade school, or a down payment.

• 1:45:04Patrick Bet-David?

  You can pause it right there. So, money going to the family instead of the money going to the government. Where would you rather go? Family. Think about that. So, he's asking a very honest question. 42K a year, per child, per year. Why not just give it to the parents and let them decide what private school they want to put them into? Why not change it? I think he continues to go into vouchers and different structure on how to do it. That was his solution. Tom, I think you were about to say something.

• 1:45:28Tom Ellsworth?

  I just, I just found it in plain sight, right? I, I agree with this.

• 1:45:32Patrick Bet-David?

  He delayed the pension plan. Did you see that? He delayed it for two years.

• 1:45:35Tom Ellsworth?

  Two billion dollars. So in other words, Eric Adams, five, Albany, four, nine, wealth tax a half, nine and a half, two billion on the pensions delays funding. That's 11.5 billion.

• 1:45:45Patrick Bet-David?

  Did you understand what I mean by the pension? He delayed the pension for five years or three years to be able to say, hey, we don't have to put this now. But you know why I love this? Let me tell you why I love this. Two things. One, you're screwed if you don't buy a house now. Because they're leaving.

• 1:46:02Tom Ellsworth?

  Right.

• 1:46:02Patrick Bet-David?

  Okay, so the young guys that are sitting there saying, well, you know, I'm still gonna wait, I'm still gonna wait, they're gonna leave. And do you know why I love that they're saying this thing now? That 2020, 2026, they balance the budget? You know why I love that this is a manipulation that he's using right now? How long can he use this gimmick? What's gonna happen next year when he has to balance the budget? What gimmicks can he use next year?

• 1:46:24Speaker 05

  It's gonna get more difficult.

• 1:46:25Tom Ellsworth?

  He doesn't have five from Eric Adams. That's the big one.

• 1:46:28Patrick Bet-David?

  So I love this because go a year from now when he has to do this. What month and year are we in? A year from now? It's May of 27. What starts in May of 27? People announcing that they're running for president 2028. Okay? That's the date, just so you know that. It happens between March, April to June. And I think the president announced he's running for president, June 13, June 14, right around his birthday, the first time he announced he's running. So next year, when everybody's announcing that they're running, he has to give his budget next year this month, and AOC is probably running, and the people that they're gonna compare AOC to is who? To him. And they're gonna say similar policies. Is that how you want someone to run America?

• 1:47:10Patrick Bet-David?

  So this hurts the socialist candidates in 2027 when they announce they're running. Bradley?

• 1:47:19Speaker 04

  You know, I don't, I don't really have a strong opinion.

• 1:47:22Patrick Bet-David?

  On this one?

• 1:47:22Speaker 04

  On this one. Because again, when you, when you're spending $42,000 per child and the, you know, results are terrible, it just, it just screams to me that there's-

• 1:47:33Speaker 06

  There's some sort of corruption going on. I don't trust politicians. I don't trust this guy, so I think it'd be best if I reserve my opinion. Forty-two thousand for a kid, they should be coming out of school with a with a SaaS company. Like, where's that money going? You think it's education? No. Let's check out the vendors. Let's go look at, let's start auditing where that money's going. Is there some daycares happening? What's going on with that?

• 1:47:57Patrick Bet-David?

  Yeah, and by the way, you know what the budget is for New York City? Rob, can you tap in New York City's budget, annual budget? You know what the number is?

• 1:48:04Speaker 06

  The city?

• 1:48:06Patrick Bet-David?

  It's a hundred and twenty-some billion dollars. Look at that. A hundred and twenty-four point seven billion dollars is the budget that they have. Hundred and twenty-four point seven billion dollars. They're doing everything in New York City with that number, okay? So it's pretty wild, but again, for simple, this answers a few different questions. People who leave New York City will be coming to places like this.

• 1:48:29Speaker 06

  Yeah.

• 1:48:29Patrick Bet-David?

  And they'll be going to places like Tennessee. And whatever's gonna happen, like right now, one guy just bought a house in our community. You know where he's moving here from? Canada, okay? Very successful business guy, one of our clients. We helped him out. Everybody was involved in helping get this property. And if you walk around the commuter, you're seeing people from Canada, New York, DC, Chicago, all over the place that they're moving down here, and it's not slowing down anytime soon. All right, let's get to the next story. Next story I'm gonna get to is this lady who is giving this graduation speech, and she's thinking she's gonna crush it. And she makes one comment, and then all of a sudden booze come out of nowhere. And then she had to find a way to recover from it. Go ahead, Rob. Watch this, folks.

• 1:49:12Speaker 06

  The rise of artificial intelligence is the next industrial revolution.

• 1:49:27Patrick Bet-David?

  She's looking back for help.

• 1:49:30Speaker 06

  Okay, I struck a chord.

• 1:49:34Speaker 06

  May I finish?

• 1:49:40Patrick Bet-David?

  She's nervous.

• 1:49:41Speaker 06

  Only a few years ago.

• 1:49:44Patrick Bet-David?

  You can pause it right there, Rob. Tom, why do you think the kids graduating, what university is this, Rob? What university is this?

• 1:49:52Tom Ellsworth?

  University of Central Florida, UCF.

• 1:49:54Patrick Bet-David?

  So UCF, why do you think the reaction was so negative?

• 1:49:58Tom Ellsworth?

  Because these kids are looking for a lot of entry level jobs and the entry level white color jobs, you know, if you don't have AI skills, you have to walk in and demonstrate, hey, I can be that analyst, but I'm also very proficient AI like this. So I can be an analyst that does this, this and this. And the perception that all these kids are hearing from the news media is that AI is stealing jobs, AI is doing this. And her reaction is what happens when a policy wonk does a commencement speech for who are people who are graduating with degrees and want to go out and find employment. And she gets booed and she gets nervous because policy wonks that present white papers and positions usually don't have to go into the public square and to work on things.

• 1:50:43Tom Ellsworth?

  It reminds me of Ghostbusters. Remember the opening, so it goes back to our generation, but you go back to the opening of Ghostbusters where they're sitting there at the university says, I don't want to go out to the private sector. Why? The private sector is tough. They expect results and they're eating the Chinese food out of the box. That's what it is. And so she comes in and gets booed, but these kids, Pat, they're worried about AI and all the negative headlines on AI as it affects jobs. I think what they don't see is the deeper things that are going on out there where if you are proficient with AI, you can be the analyst that is the lion tamer, not the person that doesn't have it. But when they get all these headlines, it's in these kids' heads.

• 1:51:27Patrick Bet-David?

  Brandon?

• 1:51:27Speaker 05

  Yeah, no, they've been brainwashed, like Tom said, that they're in trouble, that AI is going to take all the jobs away. And it happened kind of rapidly too, you know, I guess I'm depending on when you're in school and when different technological changes happen, you either get lucky or you get unlucky depending on what you're majoring in. Sometimes the economy kind of shifts on you and demands for certain skill sets and different jobs shifts and sometimes it happens faster than others. And it was really, what, like 2023 that ChatGPT came out? So imagine somebody who's a freshman that year or a sophomore that year that like chooses a certain major and then like now they're graduating and like that thing's totally irrelevant because of that. But I don't know, I think it's, um. A negative limiting belief for them to have a negative view on it. I think it's much more helpful than hurtful.

• 1:52:09Speaker 05

  I think that people who are saying the jobs are gonna be wiped out are exaggerating it like we. We see it all the time, things that like they say, oh, you're not gonna need people to write code. Yeah, you still need people to write code, just makes it faster. Oh, you're not, you're not gonna need people to um, like make content. You still need people to make the content, it just makes it faster. So. Yeah, it's bad mindset for them to think it's a negative thing.

• 1:52:30Patrick Bet-David?

  I saw a chart this last week that I think Connor and Humberto showed me on how, believe it or not. Gen Z trusts AI less than the older generation. And I don't know which one it was that I just looked at.

• 1:52:46Speaker 05

  Trusted less?

• 1:52:47Patrick Bet-David?

  Oh, trusted less and they're, they're, they know the impact of being on it. They're kind of like, hey. Because it's brain atrophy, right? Your brain is no longer making the decision. You're just relying on AI.

• 1:53:00Speaker 05

  Right.

• 1:53:00Patrick Bet-David?

  To make the decisions for you and they're realizing this is a muscle. It's getting dumber. If you don't put it to use and you give the power here. So New York Times came out with a story. Gen Z is using AI but doesn't feel great about it. New study from Gallup found that young adults have grown less hopeful and more angry. About AI. Rob, do you have the chart on this, the data on this? There's a, I don't know if it's got the data there. That could be one of them right there. Uh, is this the one? Uh, it's going too long, right there. So the percentage of respondents ages 14 to 29 who said they felt. Hopeful about AI declined sharply last year from down to 18% to 27%. So who's in it more? Kids are.

• 1:53:42Patrick Bet-David?

  And they're saying, hey, I'm not excited about this. There's even a certain level of animosity that they have. Towards this of what it's doing to their careers. Okay? And there's a whole report on this that Gallup just did. Uh, I don't know if you have the Gallup report or not, you know, 14% decline in excitement about AI since 2025. 48% Gen Z believes the risk of AI is in workforce outweighs its benefits. 52% of Gen Z K through 12 students think they will need to know how to use AI in their post-secondary education, which is true. But the adoption and the concern is high. This one here, adoption. Has not increased, negative sentiment has. So Gen Z's feeling about AI, strongly agree. AI intelligence makes me curious. Look at the disagree, the red.

• 1:54:26Tom Ellsworth?

  Wow.

• 1:54:27Patrick Bet-David?

  Anxious, okay, angry, excited, hopeful. They're not hopeful about it.

• 1:54:32Tom Ellsworth?

  That's crazy.

• 1:54:33Patrick Bet-David?

  They're going a different direction. Bradley, where are you at with this?

• 1:54:36Speaker 06

  Well, I remember when they said the internet was a fat. So I don't, I don't trust these polls either. I, I guess, you know, but when it comes to these guys having an attitude about AI, I think I agree. Because if you look at it correctly, from the right perspective, AI is going to make you a force multiplier. In other words, it, it, it's not going to be AI that takes you out. It's going to be someone leveraging it properly. These, these kids shouldn't be booing. They should be, they should be freaking out. They can make a Gentic AI. They, they could make every single one of them wealthy almost overnight. A Gentic AI that I think is kind of the, maybe it's already here. I might sound foolish to you guys who are all learned and, and read up on it. But my observation is AI is not going anywhere.

• 1:55:21Speaker 06

  And, and you know, I, I can't believe this is even saying AI adoption is not increased. Like, it seems to be, uh, being adopted everywhere. I was telling you, you know, light speed right now is, I would say literally revolutionized by AI.

• 1:55:36Tom Ellsworth?

  And it's, and it's your company. And, and quick headline, what does it do?

• 1:55:39Speaker 06

  It's a training software. It's a SaaS model training software that allows people to, you know, deliver or create, deliver, track and measure content regardless of what it is, usually in the, in the realm of training. So I'm hiring more employees, not less. Like I need people, not less. AI is causing me to, to massively grow and I need new people. It's, it's not replacing.

• 1:56:02Tom Ellsworth?

  Are these college grads, one year, two year? What kind of people coming in?

• 1:56:06Speaker 06

  Yeah, exactly.

• 1:56:07Tom Ellsworth?

  There you go. They got opportunities.

• 1:56:09Speaker 06

  They got huge.

• 1:56:09Tom Ellsworth?

  The wave is giving them something to surf at your company.

• 1:56:12Speaker 06

  Hundred percent. And I think it's going to be that way in most companies. I think people are, uh, when transformative technology comes out, there's always these little naysayers. I'm just surprised that it's the kids because like these kids should be.

• 1:56:25Patrick Bet-David?

  Normally it's the other way around though. Like if you think about when Elvis came and shaking hips, kids were supportive. If you think about, you know, when these, these types of internet came in, kids were all like on chat. Remember when we were kids, we were in AOL chat rooms. If you remember, like, we're about the same age. AOL chat rooms was a big thing. Oh my God, we loved it. So for it to be that now they're worried, this is a different type of a worry than what we had to experience. I, I don't know the impact of it. You know, yesterday we're talking to a group of kids in school. It was, uh, what do you call it? Career Day? Is that what they call it? Career Day when somebody comes in. And so I went on Career Day and I took with me Anthony. I took with me Paul Saladino and I took with me Dan Simmons. So we're all there.

• 1:57:07Patrick Bet-David?

  Dan looks like he's ready to take somebody out because Dan's 18 Delta. They said, so I said, Dan, why don't you tell everybody what your job was? He says, I'm the guy that comes and saves you where you only have 15 minutes left to live. That's what I did for a living. That, you know, you, you look at him, he brought you in when you walked in. I don't know if you saw the tall friend, Dan. Okay. So then Andrew gets, Anthony gets up there and Anthony says, let me tell you how I got a job at ValueTainment. Anthony's got 150,000 followers on X, not X, on Instagram, does great content. And I said, why don't you share something with you? I said, how old are you? 22 years old. So what did you do? Well, I started creating content first. Everybody was making fun of me, so I paused for two years. Then I went back at it and then it took off. And then he's been invited to be everywhere. And then he minxed me three times. Eventually gets a job.

• 1:57:50Patrick Bet-David?

  He's doing interview with us, comes down to your system with Humberto. Now he's full time with us. He's been with us for a week and a half. He moved to South Florida and now he's been invited to go to the White House to be part of the prayer by Speaker Johnson. He got invited to go to the White House. What if he doesn't create content? And then Saladino got up and says, I was a doctor. Here's what I did. I did this, I did that. And then eventually I realized I couldn't stand being in that business because I found that, that the real food that we need to be taking, people are not teaching. So I decided to step away. I started creating content and now he lives in Costa Rica, serves every morning at 6:00 AM in Costa Rica, literally. And he's got a business, he's doing all this stuff and it's taking off. I think there's many creative ways to position yourself for victory.

• 1:58:30Patrick Bet-David?

  I don't like the mindset of being worried, afraid and staying there constantly instead of trying to find a way to be a differentiator. But I will tell you.

• 1:58:39Patrick Bet-David?

  If it's, imagine in a time 10 years from now, and I think we're gonna get there Tom. Imagine 10 years from now, if you're sitting behind your desk, I remember I'm talking to the founder of Lululemon. I don't know what his net worth is today, Rob, if you want to put him up, he's one of the most interesting guys. I think his name is Chip Wilson, uh, who is probably a four billionaire guy. Type in net worth, what is his net worth today? Chip Wilson, 6.3 billionaire guy today. We're sitting there doing a podcast, you know what he said in 20 years? He said in 20 years, everyone's gonna be in shape. So what do you mean? He says it's not gonna be a big deal for you to have a six pack of... I said, what are you talking about? He says there's gonna be clothes you're gonna wear that's gonna tell you and report on exactly what your body is doing. Get up and walk.

• 1:59:21Patrick Bet-David?

  So imagine now we go to a point where we're wearing clothes that your body is working out throughout the day while you're working. So the shirt is working out your biceps. The shirt is working out your forearms. The shirt is working out your chest, your lower back, your abs. So we all go to the beach, everyone's looking jacked, right? Everyone's looking great. So then what is workout? What do gyms do? What's the purpose of that? So I guess a part of it is if AI is gonna prevent you from having to think, why are you important? Why are you useful? Does it become a companion? Does it become a partnership? No matter what it is, you have to find a way to maneuver and make some good moves because the opportunity is there. But I also think a lot of people are gonna be destroyed the next 5, 10, 15 years because they don't take advantage of the opportunities.

• 2:00:06Patrick Bet-David?

  Like usual, like it happens all the time, Brandon.

• 2:00:09Speaker 05

  Yeah, no, I totally agree with that. And I thought like right from the beginning of the AI, I was like, hmm, yeah, what does make people unique? If they could give you all the information overall, but I think it's how good are your questions that you ask? Because, you know, it could tell you anything, but if you're asking it stupid, basic questions that don't really give you any value, then it doesn't... You know, it's not gonna be unique for everybody else. But if you, you could have the best questions, you couldn't, you know, take the best angles on things and like go down different rabbit holes. And like either useful information or not useful information. So I think that's, that's what makes it different for people.

• 2:00:37Patrick Bet-David?

  Well, we'll see what happens. Let's do the last story before we wrap up. Kevin Hart. Media company, okay? Comes out and there's a lot of stories on this. Just a few years ago was valued at roughly 600 million dollars when we read about it. And now the entertainment company is reportedly in crisis after layoffs and lawsuits, according to TMZ, and we don't, I don't know what the story is, but let me get into it. So Kevin Hart's business with the world might be running low on punchlines because behind the scenes insiders say that there's been layoffs, lawsuits and chaos instead of comedy. A new Bloomberg report claims that the comedian's once booming media empire heartbeat has seriously downsized in recent years with executive shakeups, stalled projects, canceled staff meetings and multiple rounds of cuts, gutting the company from the inside.

• 2:01:19Patrick Bet-David?

  The drama reportedly escalated after Kevin quietly stuck a deal in January with Authentic Brands Group, the company behind celebrity brands tied to stars like Shaq, Beckham and others. While the announcement sounded like a power move, the report says the deal also gave Hart money to buy out his private equity partners and move his endorsement business into the hands of Authentic. Employees allegedly feared that was being, that was the beginning of the end, especially as Hart reportedly became more removed from the day-to-day operations, leaving the small group of executives to steer the ship while he focused on films and movie projects and other things. And the story gets even a little bit deeper where he changed the phone number after layoffs at his struggling media company. Kevin Hart vanished from his struggling media company. Tom, what do we know about the story? What do you know about the story?

• 2:02:04Speaker 06

  This episode is brought to you by Indeed. You're ready to level up your business, but the pressure to find the right person to make that happen is intense. Indeed sponsored jobs can help carry the load. It boosts your job post to help it reach quality talent fast. Cut through the chaos with Indeed sponsored jobs. Get a $75 sponsored job credit at indeed.com/podcast. Terms and conditions apply. Hiring now? Then this is a job for Indeed sponsored jobs.

• 2:02:34Speaker 06

  Low energy, unfocused, foggy? You might be dehydrated. Gatorade Zero powders have been scientifically designed to help improve hydration balance in the body with a clinically proven electrolyte blend and no artificial colors or flavors. Great tasting hydration, no matter where you're going. Shop now online or at retailers nationwide. Gatorade hydrates better than water. Is it in you? Symptoms noted are signs of mild to moderate dehydration. Consult a healthcare professional if symptoms persist. Now, more than ever, we need someone on our side. But Rob Whitman? Whitman's Votes drove up costs, cut Medicaid and risked 350,000 Virginians' health care to pay for tax breaks for himself and his donors. He's not on our side.

• 2:03:19Speaker 06

  Shannon Taylor will fight corruption, cut taxes and bring down costs. This November, vote for Shannon Taylor. She's for us. Paid for by HMP, the House Majority PAC dot com. Not authorized by any candidate or candidate's committee. Imagine building an app with your name on it. With Base44, describe what you want and watch it take shape. You can plan, customize and expand in any direction. From passion projects to enterprise-grade systems, everything is built in and ready to launch. No matter what you're building, any builder needs Base44. Go to base44.com.

• 2:04:03Speaker 06

  USAA knows dynamic duos can save the day like superheroes and sidekicks or auto and home insurance.

• 2:04:09Tom Ellsworth?

  With USAA, you can bundle your auto and home and save up to 10%. Tap the banner to learn more and get a quote at usaa.com/bundle. Restrictions apply.

• 2:04:19Tom Ellsworth?

  I don't know the depth of the media company. I know two things. One, a lot of people said, "I just got laid off." So apparently, the news reports are correct or directionally correct that a ton of people just got laid off. We know that. And the number two thing that we know is that Kevin Hart seems to have done this twice. I'm not picking on Kevin Hart. Apparently, he had a restaurant prior and when it went bankrupt, he didn't want to handle the news media or something is what people were saying. I'm not saying this is what others said, that he changed his phone number and kind of hid and let the smoke clear from the restaurant.

• 2:05:01Tom Ellsworth?

  Now, it appears that this one goes under and once again, he changes his number and kind of hides, let the smoke clear. You know, these celebrities need to understand things and that is...

• 2:05:16Tom Ellsworth?

  When you lose in the entrepreneurship world, you haven't lost. You've just gained experience. You may have lost money. It may be painful, it may be humiliating, it may be difficultly. But you just got an MBA in whatever didn't go right. And people don't see that and don't understand that. In a celebrity world where everybody from your business manager to your chef tells you how great you are, you live in this world of perpetual edification. And Pat, sometimes celebrities aren't ready for the pride swallowing siege that can be building a business and going over the bumps of life. So I'm not criticizing Kevin Hart. But it appears that he's handled two business closures kind of the same way.

• 2:05:55Patrick Bet-David?

  I want to read this to you. So days before Thanksgiving, they fired about 20 out of their 80 employees at heartbeat. The company later cut additional workers tied to podcasting and scripted television, including executives involved with a barbershop TV adoption for Amazon, a second season of animated series like Little Kev. And then in weeks afterward, Hart changes phone number, according to Bloomberg, which reported that advisors had longed to encourage him to make himself less accessible. Okay, so I got a lot of opinions on this, but Bradley, I'll come to you first and then I'll give my thoughts. Go for it.

• 2:06:23Speaker 06

  Well, first, again, I hate to be the guy that says it continuously, but who says this is true? First of all, the media is filled with lies. Not only that, people hate. So who says he's actually doing this? But let's pretend that he actually is. First of all, I think, you know, having my phone number is a privilege, if you ask me. So if you violate that privilege with negative nonsense and I want to shut you out, I'm changing my phone number. You don't, I don't owe you my phone number, even if you work for me. I don't owe you access to me personally. So if you don't value the access and honor the access, well, then I'll just remove the access. I don't blame him for doing it. I mean, at the end of the day, he's Kevin Hart, right? Shut the phone off. I'm not taking any negative. The media is nonsense. You guys are all overreacting, freaking out.

• 2:07:08Speaker 06

  We had to fire 20 people. Big deal. Welcome to being an entrepreneur. You know, to me, I'm the opposite. Like, I won't fire the 20 people because, because, you know, I feel bad. You know, the guy's got some shrewd operators probably on his side, and I don't blame him at all. Now, again, that's assuming that it's true.

• 2:07:28Speaker 05

  Is he being a good leader of the company, though, there? Like, by not being there for so much and not, like, giving them clear direction on what they're doing?

• 2:07:33Speaker 06

  Who says he is the leader?

• 2:07:35Speaker 05

  It's his company, isn't it?

• 2:07:37Speaker 06

  Well, again, it's his brand. You know how many brands are licensed?

• 2:07:42Patrick Bet-David?

  But this is different. This is actually his company. So to me, it kind of goes to what you're talking about and not...

• 2:07:47Speaker 06

  And who's he changing his number for? Like, again, this is just the media talking crap. How do you know that this is even real? Call Kevin. You probably could if you had a stemper still. But I mean, like, I don't know. I just doubt.

• 2:07:59Patrick Bet-David?

  This is what I'll tell you.

• 2:08:00Speaker 06

  I get hate, so I just doubt the hate.

• 2:08:02Patrick Bet-David?

  This is what I'll tell you. To me, my feedback on this is the following. If you're an entertainer and you're somebody that a lot of people are watching and seeing what George Clooney did with his tequila deal, when he sold it. I don't know what he sold it for, but he sold it for a few hundred million dollars. Then they saw what Ryan Reynolds did. Was it with Mint Tom, what Ryan Reynolds did?

• 2:08:25Speaker 06

  Yep.

• 2:08:25Patrick Bet-David?

  And he sold that. Then they see Reese Witherspoon with her book club, which, by the way, a lot of people don't know this. But Reese Witherspoon, yeah, he sold it to Diago for up to a billion dollars, June 17. The deal included 700 million dollars in payout and 300 million dollars based on performance over the decade. All right. Go to Reese Witherspoon's net worth. Type in Reese Witherspoon, right? And she created a book club. And then she started doing deals and it turned into movies and all this other stuff. And then, so, you know, she went from a regular thing to look in 2020, sold majority of stake in her media company, which produced hits like Big Little Lies and the morning show to Blackstone in a deal valued 900 million dollars. And this is Reese Witherspoon. You know, people are like, oh shit.

• 2:09:07Patrick Bet-David?

  Not every talent is a great operator, and it's not for everybody. You know, some people who are, just because you're a great salesperson, doesn't mean you're going to be a great sales leader. Just because you're a great sales leader and a salesperson doesn't mean you're going to be a good business owner, running your own company. You're just a good sales guy. You're a good salesman. There's nothing wrong with that. A lot of sales leaders make more money than the guys running a company. They just do, right? But it's this part where you say, screw you, because to me, I was a guy that was a salesperson. And then they said, yeah, but you're not a sales leader. And then I became a sales leader. And then I was like, yeah, I went and said, look, I want to want to be a CEO of this company. How can I get some equity? The lady Susan laughed at me. I said, oh, so you don't, you will never leave. You're just here to ask some money. Oh, no shit. Yeah. You really believe I'm faking this? Yeah.

• 2:09:52Patrick Bet-David?

  Okay, cool. Jeff came, picked me up, went to his house, said, I'm starting a company. We shook hands. Later on, three months later, he didn't come. I started it by myself with a half a million dollars of savings. We sold the company for 250 million dollars. And the market is like, oh, so, oh, wow. So then it's like media. Well, we think we can be media. Who do you think you are? Just because you're a good businessman, you sold it, but you think you're new media? I don't know. Maybe we can't. But the market is brutal. There is who you think you are, and then there's the market. And if you want this kind of respect from the market and a massive payday, guess what comes with the territory? A lot of hate, a lot of criticism, a lot of shit that will be revealed on what was happening. And if there's continuous patterns, then people are going to sit there and say,

• 2:10:36Patrick Bet-David?

  do I want to be involved in the next deal with them? I don't know. But when it comes down to talent, you crush it as a talent. So like Logan Paul has, what do you call it? What's that drink that he has? Prime. Prime, right? Do you know what percentage him and KSI own of Prime? What do you think they own of Prime? 10%. I think it's splitting, is it 20 each, Rob? I don't, we talked about this. They own each 20%. He owns 20%. KSI owns 20%. But guess who runs the whole thing? Kogan Brand, Congo Brands. And what's, what's the revenue right now? 1.2 billion dollars in sales in 2023. You know what it was in 2025? They own 20% of this, but they're not operating yet. So maybe the feedback to heart is, dude, go on 20% of it. Go on 30% of it.

• 2:11:21Patrick Bet-David?

  Go on 40% of it. But let somebody operate and deal with the day to day shit. You don't want to deal with the day to day shit. You're trying, you're trying to be a comedian. You're trying to be a talent. There's ways of that, like The Rock did it the right way. He's got operators and The Rock is about to be a billionaire if he's, he isn't already. Right? LeBron James is now a billionaire because he's got other people that are running it. Look at one thing LeBron did. Definitely not a fan. I'm glad they got swept. And the best tweet I saw yesterday online was that Luca is officially cleared to play in game five. There is no game five. They got swept, right? But you know what LeBron does well? He realizes he's not an operator. He has others being the operator. So the market is super, super brutal. But I hope he comes out of this because he's one of the guys that if he's in a movie, our family has to watch it. He's that funny. He's that talented. Anyways.

• 2:12:05Patrick Bet-David?

  Bradley, great having you here, gang. Lots covered today, and for those of you guys that are tuning in today, it's what, Wednesday? Rob, what podcast do we have going on tomorrow?

• 2:12:15Tom Ellsworth?

  Paul Saladino.

• 2:12:16Patrick Bet-David?

  Paul Saladino goes on tomorrow, one of the funniest. The stuff we talked about was so inappropriate, but so educational. If you watch, you will be so entertained. I'm just telling you, I rarely say this. He kept saying, "I can't believe we're going there, I can't believe..." We talked about everything. You're gonna enjoy the podcast tomorrow with Paul Saladino, and we'll be back on Friday. God bless everybody, take care. Bye bye, bye bye.

• 2:12:41Speaker 07

  Now, more than ever, we need someone on our side. But Rob Whitman? Whitman's votes drove up costs, cut Medicaid, and risked 350,000 Virginians' healthcare to pay for tax breaks for himself and his donors. He's not on our side. Shannon Taylor will fight corruption, cut taxes, and bring down costs. This November, vote for Shannon Taylor. She's for us. Paid for by HMP, the House Majority PAC dot com. Not authorized by any candidate or candidate's committee.

• 2:13:11Speaker 04

  Your website can do more with Base44. Describe what you want in plain language and build a site where people can book with you or buy from you. Payments, data, security, and hosting are built in. Go to base44.com. USAA knows dynamic duos can save the day, like superheroes and sidekicks, or auto and home insurance. With USAA, you can bundle your auto and home and save up to 10%. Tap the banner to learn more and get a quote at usaa.com/bundle. Restrictions apply.