Kind: captions
Language: en
[Music]
foreign
welcome back to the show man I love it
man it's like a family reunion man
welcome home thank you
all right thank you real fast what are
three things that people do habits money
habits that keep people broke three
money habits that keep people broke I
would say the first thing is not
investing at all
and the reason why I'm not investing
that I invest in so the first thing is
outside investing in yourself because
the reason why you are people are broke
or people don't have lack the money they
should because they don't know how to
operate money they don't know how to
spend money they don't know how to
invest money they don't know how to save
money know how to lend money those are
four important things in investing and
well just money principles learning how
to save learn how to spend right so I
always say that if you have more money
under your uh bed or in your closet than
you have in your bank account or in your
investment account you don't know how to
spend money right so one is learning how
to spend learning how to save learning
how to invest learning how to borrow
right so those are four important things
just in money lessons money principles
right so if you don't invest your money
then you're now saying that the only way
that I can grow my money is based on
what I can physically do right time for
money right time for money which is
never an even exchange because you can't
work 24 hours a day but your money can
like you need a break you need rest you
need lunch but your money doesn't so the
one money was the most
a powerful one is just not investing at
all right the next one is spending money
that we don't have
I've read a stat that said most people
spend a dollar and four cents for every
one dollar that they make
so now we're spending more money than we
actually have at that point you can
never catch up so I remember I used to
work my job when I was working right I
remember when I would get overtime I
would always
figure out
how much of that overtime was and I was
always a comfort in my head so most
people do that if they get overtime
they've already spent that money before
it hits the paycheck yeah it's already
you already know what they gonna spend
it on so spending money we don't have
and then most important is just buying
things we don't need right most people
don't have the financial fortitude to
be strong enough to say you know what I
don't need this right most people
impulse buy right so impulse buying
after that uh gratification is going
after that you release those endure
friends now it's like damn I really
didn't need that
but it's too late because you've already
bought it right so those are three
important things just before we even dig
deep and just going into other things
that are anchoring us to like poverty
and and not being where we want to be
and financial abundance all those
amazing things those three things are
most important not investing spending
money that you don't have and not having
that Financial Foster tool to not buy
the things you don't need right like you
buy some shoot like do we need every
pair of tennis that come out every pair
of J's that come out right do you do
does the woman need every dope bag that
she sees right I'm not saying that it's
not cool but you need everyone right so
I think having that financial fortitude
not to spend on those things that you
don't need that are like catapult you on
a journey because the moment you don't
spend on things you don't need now
double back to the more things you can
invest in right and that's that's truly
the key well it's not entrepreneurship
which is dope but be building Wellness
for everybody all right so hold on so
not entrepreneurship everybody thinks
that's the path yeah like you I don't
think that's the right path for
everybody it's way too hard it's way too
stressful you should only do it if you
can't bear to not do it but how is
wealth for everybody for real for real
because right now as we're recording
this right we're in a recession I don't
know if you would say that but I will
and I'm angry at the government for
playing word games yes by the normal
metric we're in a recession I think
things are going to get worse before
they get better and I think people need
to understand how to navigate money to
make it through this or it is going to
be a bloodbath in the streets I've heard
you say and this is just factually true
the people that suffer in a recession
are the middle and low class so it's
like the people who know the least about
money are the ones that are going to get
battered by what we're about to go
through so
how do we navigate this period how what
is it that so we know the mistakes that
people make
why do they make them and how are you
going to help people out of that all
right so first let's just double back to
um entrepreneurship right so I
you don't have to be an entrepreneur to
build wealth right so we know that
entrepreneurship is the is the
underlying Catalyst to America right so
someone having a a brave idea to step
out and say I want to build this
business and then that business
contributes to humanity how do you know
that how do I know what that you just
said something that most people would
never in a million years put the
sentence together that America's built
on the back of Entrepreneurship oh do
you look at history like where did you
oh yeah yeah so you study history so for
me I think in order to build wealth you
have to understand where did it
originate from right and so if we live
in an America to say okay
how did America become America of course
we can double down and say America's
built on the backs of slavery and you
know people did corrupt business and all
that but at the end of the day it's
built on entrepreneurship someone have
an idea someone having a vision and
being willing to do whatever it took to
make that Vision come through right
being able to say I'm not gonna quit I'm
Gonna Keep Going I'ma persevere this is
how we get here so we can even look at
someone like JP Morgan right so we look
at JP Morgan his daddy was a banker
right his dad was a banker but he had
his idea that he wanted to step outside
of his daddy's like Shadow he wanted to
do his own thing so he partners with
Thomas Edison right he partners with
Thomas Edison has Edison Electric right
and then at the time Thomas Edison was
giving us electricity you had Nikolai
Tesla saying yo we have something better
than what he has so they get this uh
this world fair is going on and Thomas
Edison and JP Morgan Chase are bidding
against Tesla for the electricity bid to
run this fare right Tesla wins the bid
uh Thomas Edison is like beat JP
Morgan's like I thought you said no one
could beat you in this so he comes back
and says okay I'm gonna prove that what
he's doing is wrong so he does the first
actual electric chair execution
but it goes wrong
you want to literally burn the man alive
so here's what JP Morgan does
just to sum it up JP Morgan buys all the
shares in Thomason and Edison Electric
uh I think the guy name is wittenhouse
who funded Tesla
he tells him that Tesla stole the idea
from Thomas Edison he brings him to
court the guy says no you didn't JP
Morgan said well I know you don't want
to go to court with me because court
costs money your money is all tied up in
this here's what I want to do I want to
just buy from you
so he gets the money from him he buys
all the shares in
Thomas Edison's electric and then calls
it General Electric
you know what I'm saying so when we
think about entrepreneurship it's saying
JP Morgan saying you know what I have an
idea right I have an idea that I want to
take come from under my father's Shadow
but I may not have this is the Dual part
about investing I may not have that
actual business but if I can buy the
business
if I can buy the business Pioneer it the
way that I want give it the Integrity
that I want
then now this business can reshape
America this isn't an American Business
a man but I did okay so this there's uh
several things going on here so one
night dude every time I'm with you right
I have this screaming sense that you're
one of the most important voices in
America right thank you thank you so but
I want to say why
um
you've said and I couldn't agree more
there's never been a time in human
history where more free information has
been available
you've shown what happens when you Avail
yourself of that information you go
learn and then you can deploy that
knowledge so my favorite quote on Earth
is Kobe Bryant booze don't block dunks
yeah but you can get so good at
something people can't stop you so
you've gotten good at investing and
thusly people haven't been able to stop
you from continuing to excel despite
felony conviction going to prison for 10
years all the hardships that you grew up
in if people don't already know your
story they can watch the first interview
that we did together
but so that's incredible you you are the
the unexpected performer and the fact
that you do it because you're a student
of History you understand yeah okay so
all of that so I want people to get rid
of all their excuses which is something
I'm sure that we'll talk more about
later
but the other part of this which is
really interesting is you understand how
money works and once people understand
how money works you can't get tricked so
this even in entrepreneurship something
I think about a lot
you have to know enough about the nature
of things Marketing sales whatever
Finance you don't have to master it all
but you have to you have to understand
the nature of it well enough that you
can't be tricked
so you just stated how money works but I
really want to put a finger on it so
people build a business yep the business
needs something though that thing is
capital it needs money
so the people building the businesses in
the beginning they often don't have the
capital and so they need a way to go out
and get the capital or
it's going to get a little bit
complicated fast but I'm gonna go
through come on let's see if people can
hang so go through it all right you're
building a business one of two things is
true you either don't have money and so
you need somebody that can help you get
the things moving that you need to then
generate the capital okay I'm sure
people have heard the phrase it takes
money to make money she's entirely true
but certainly as you scale that is very
true you have to pay employees and all
that okay so takes money to make money
so you're building a business you need
the capital you can get somebody to give
you money early on you can make a little
bit of money and reinvest it yourself
but what most people do is either they
need that money or they've managed to
get the company going this is what
happened to me at Quest so you get the
company going you don't have to take
money from other people in the beginning
but all of your money is in the company
so I was worth hundreds of millions of
dollars right and I couldn't access it
I'm driving a beat-up car and so it's
like I'm rich on paper but in actuality
not so much okay so one of those two
things is true either need money to get
this thing going or all the value that
I've been able to build is trapped in
equity in the company so to unleash some
of that value they create shares you're
now a public company and this is what
you're talking about so hey you've got
this JPMorgan realizes I'm not an
entrepreneur I'm not going to be able to
build something but these entrepreneurs
are in a tricky situation they're maybe
brilliant with business
but they have another need yeah and so
as they go public which is just turning
creating shares out of your company
that's a very technical breaking it down
to Pieces exactly break it into pieces
now you're going to sell those pieces to
the public
they can then buy a piece of that
entrepreneur's endeavor right a piece of
that company and so now the entrepreneur
or the business depending on if they're
selling their personal shares or if the
company's selling treasury shares either
the company has just gained a ton of
money or that individual has taken money
off the table and now they've actually
got real wealth which always makes me
laugh when people think that Jeff Bezos
has 190 billion dollars his company is
worth that he doesn't have that unless
he sells the shares right so anyway so
now it's like whoa whoa so as an average
person I can go buy a piece of these
storied companies but what I really want
people to understand
you just went and learned that yeah like
you I can't tell you how late I came to
this game you figured this out before I
did I was building businesses already
this is why I'm so [ __ ] enough when I
think about how far down the road I went
I learned the game of building
businesses you learned the game of
buying businesses
okay maybe people don't want to do the
thing that I did some days I wonder and
you went down another road which is
available to everybody okay so now the
people have their little primer and how
all of this game works right one how why
don't people do it in fact let's start
there we'll we'll definitely talk about
how to do it well but why don't people
do it I think because America has
painted this picture that it is
dangerous so think about TV I'm going to
lose my money I'm going to lose my money
uh stock market crashes right and then
every show that you've seen about Wall
Street is about people that are crooked
that take advantage of people's money
and then get rich you know and so people
don't associate with that right people
feel like you know what I don't want to
be a part of that I don't know enough
about that right when investing in the
stock market isn't an IQ game it's not
about it's not about being the most
brilliant person in the world right it's
about understanding basic economics and
basic economics is what we know every
day you understand this supply and
demand right supply and demand says that
if Michael Jordan drops a shoe then the
line is going to be wrapped around the
corner right but if you find a way to
get that shoe hold on to that shoe and
then later on you can now sell that shoe
at a top tier Price Right supply and
demand right if we can understand that
you understand certain parts of basis
economics right you understand that if
Michael Jordan were to release
a hundred million yep shoes
won't be worth much it won't be worth
but if he releases a thousand exactly
now price gonna go crazy and then over
time it becomes worth even more because
most people will wear the shoes lower
the value but for anybody that holds on
to them so now you've got decreasing
Supply which creates a even if the the
demand stayed steady if the supply
decreases now you've got
um a positive Dynamic 100 and so that's
and that's that's the that's the most
amazing part about investing is
everybody won't be able to build a
billion dollar business
right but everybody can invest in one
and that's why I love it right so the
three the three things in my wealth
pyramid is stocks business real estate I
believe you should have all three right
but you can get away with two
how are you differentiating between
stocks and business so when I say stocks
it means like me buying shares of a
business yeah
business second is me creating a
business and then real estate third so
you think everybody should create a
business no no that's why I say you can
get away with two out of the three gosh
you got you you know what I'm saying so
everybody doesn't have to create a
business because it's just not for
everybody but you can see what we do
know is as America evolves through this
business
as business evolves there are some
brilliant people that says for that
business there's a problem
for that problem I have the solution
that's a business you'd like to invest
in right and so if we can invest in the
solutions I always say that if we invest
in the solutions we cannot help but when
invested in a solution okay making
Amazon was a solution to so many things
getting us information faster getting us
books faster getting us to change the
game it revolutionized how we how we got
uh packages if ever it made somebody say
you know what I could go to the store
today but I'm willing to wait one day to
get this package can I just say for the
young people in the crowd who grew up
with Amazon yeah there was a time you'd
have to wait four times six weeks to get
something in the mail exactly
exactly that's insane if you can order
something in the morning and get it in
the afternoon and some places you get it
the same day and so when we think about
revolutionizing the game evolving that's
what I love about investing right I'm
thinking think about Tesla and I'm not
advocating for anyone to invest in these
businesses but I'm just showing how the
how the world has evolved and you can
build your wealth for me 100 if you're
bold enough to bet on the future
if you're bold enough to bet on the
future and be patient enough to let it
take place you will win and you will win
big
that is that's without a doubt so we we
see the evolution of Tesla and we see
what's going on with this business even
if you don't agree with everything that
Elon does you say okay well
Rolls-Royce just dropped its first EV
car for four hundred thousand dollars
right they're saying they're going to be
all electric by 2030. General Motors
saying they're going to be all the
electric by 2032 Ford is drop electric
cars now what does that telling us right
now the landscape of vehicles is
changing right so what do I say okay I
want to be a part of this Evolution I
want to be a part of not only the
electric car Revolution but the charging
stations the batteries right these are
the components the supply chain that
makes this whole
um
sector possible and so for me that's
betting on the future and if we can't
understand if we can truly grasp that
that your money is not doing you know
Justice in a bank
it's not especially now right it's not
doing you know Justice in the bank why
not well because the more they print
money the more your money loses value
right the more inflation goes up the
more your money loses value so a hundred
dollars spent in 2019 that same hundred
dollars now takes a hundred and nine
dollars
right so your money is lost you need to
buy the same so buy the same thing right
so if you bought this mug for 100 in
2019 I mean it's not in the mouth if
that's what you did yeah it now costs
you a hundred and nine dollars right you
need that much more money so we
understand that
One Lie we've been told is sitting our
money in the bank
so that's probably should add that to
the equation earlier right putting our
money in the bank thinking that the bank
is the safest place to have our money
right that's probably the most dangerous
place because I always see a dollar
that's not moving as a dollar that's
losing right so sitting on money in the
bank is not the place to be right so
what would be how do you make your money
move how do you make your money move by
making great Investments or just
investing so I'll give you an example
for me personally I literally don't have
but like twelve thousand dollar sitting
in the bank
all of my money is in the market 90 of
it is in the market so I use What's
called the vo which is the Vanguard
index fund for the S P 500 I use that as
my savings account
so every month or every week I'm putting
money in that well trap what happens
when the market is going down well my
money wasn't making no money in the
savings account anyway so I'm putting it
in there right and then what happens
when the market rebounds we won't be
here forever
we won't be here forever what happens
when the market rebounds well talk to
people about realized losses versus
unrealized losses okay because I think
this really messes good that's good
that's good so unrealized loss is when
let's say I have a hundred dollars on
something and that goes down to 89 right
if I sold it today I wouldn't be able to
sell it for what I paid for but
so you you buy something at a hundred
dollars it goes down to eighty dollars
if you don't sell it you have an
unrealized loss of twenty dollars I mean
you didn't sell it your Equity just
decreased
but if you sell it you realize that game
you have now made that game realistic I
mean that loss you've realized that loss
you've made that loss realistic so
you've now essentially lost that twenty
dollars right that's uh that's a
realized loss not realize gains is the
exact opposite right so if you go up to
uh I buy something for 100 it goes up to
150 unrealized I have a hundred I have
fifty dollars in unrealized games so
it's there but I didn't sell it it's
there
realizing it is saying I've cashed out
I've cast out on it think about like you
talked about Jeff Bezos right this net
worth is what
180 something billion dollars something
like that
last time I checked
60 of his money was an Amazon stock 60
of it so this is why you wake up one day
and you say damn Jeff lost 18 billion
dollars well that's unrealized
because he didn't cash out
so he didn't lose it it's still there
wants to stop get it backs up he recoups
all of that and so that's the adult part
about the mark yes it fluctuates yes it
goes ups and down but that's also the
most scariest part about the market
because people who come from a lower
income working-class environments the
worst thing that can come to their mind
is losing money that I bust my butt for
that's what makes the market so scary
for them and that confusion keeps them
out of the market yeah so this is where
now people have to get into the
intricacies of money
so it's probably worth
belaboring the point a little bit about
the people don't even get to the
starting line
so I forget the percentage of households
of people that live paycheck to paycheck
but it's ungodly it's astronomical it's
more than 50 72 is so ridiculous so this
is for people even making six figures
like most people live paycheck to
paycheck 100 the truth is hitting your
career goals is not easy you have to be
willing to go the extra mile to stand
out and do hard things better than
anybody else but there are 10 steps I
want to take you through that will 100x
your efficiency so you can crush your
goals and get back more time into your
day you'll not only get control of your
time you'll learn how to use that
momentum to take on your next big goal
to help you do this I've created a list
of the 10 most impactful things that any
High achiever needs to dominate and you
can download it for free by clicking the
link in today's description all right my
friend back to today's episode so
if you're living paycheck to paycheck
one you're not going to survive any
difficulty financially so if you get
sick and now your hospital bills the
number of people that go broke because
they're already they have no savings and
now they get sick your car breaks in I
remember that when I was broke and your
car breaks down it's like well then I
don't have a car it's not like I can
even choose to go get it fixed so
of course people in that situation are
not thinking oh I need to
go put money into the stock market I'm
not saving money anyway so that's number
one to your point about people spend
money that they don't have so whatever a
dollar four out of every dollar that
they make
the only way I found where I could do it
where I could save I had to gamify it I
had to make it fun I had to get myself
obsessed over watching the number go up
so that I would get more of a dopamine
rush out of looking at my I used to use
mint I don't know if they're still
around into it they stock they get home
yeah yeah exactly well said well said so
I would because it connected to my bank
account every time I made a deposit into
my bank account my dashboard
automatically update and I'm like oh
damn like I've now got five hundred
dollars 527 and it was like cool is it
going up is it going up is it going up
and so people need to find that hook
whatever that is to get excited about
beginning to save money but that's
interesting I like that you use the
Vanguard as the savings account so do
you is your money automatically
allocated no so I do it one because I
have I found that Financial discipline
in myself so this now is a this is my
routine how would you how did you
develop that so growing up you realize
that there's a thread that runs through
just through
especially poverty-strick in America
right and it is that we have no
Financial structure right if everyone is
living paycheck to paycheck right so
let me go back a second for a second
Reaganomics
cause so much Havoc
to that low-income black community right
why why so let's think about this
in 1982 yeah I was born they were
written Ronald Reagan took one million
people off of welfare
he took another half a million people
kids out of a free lunch
right
the economy went through a real
recession in 82. but then in 85
but I was getting into all of it
around 65 tons of cocaine pillaged
lower income in Black America
in the form of crack cocaine
85 tons that came from Nicaragua which
then was a result of Ronald Reagan being
told he could not
put illegal guns in Iran
so he supported the South American
contract go look that up this amazing
story right
that wreaked havoc so a lot of times in
my culture we look at slavery and we
look at that and that's cool but this
generation can't identify with that
right they they it's too far but what we
can identify with is that everyone from
82 to now has been touched by the crack
era
cocaine crack abuse it's separated
families and so now think about the
mindset that came with money during that
era right everything was lack right you
have people trying to work you have
functioning
families now broken up by drug abuse
fallers locked up mothers now with the
term crack babies now another way to
separate black women from kids so it
pill is cracked pillaged the black
community especially in major cities L.A
Miami New York pillaged them so now the
idea of money is separate I want you to
think about the mindset that you have to
have as a man as a as a friend I grew up
with this brother I grew up with his
mother and now his mother is buying
cracks for me
right for me to sell my friend's mother
crack
what type of mindset monstrous mindset
that has to have and then that becomes
the norm right and send them from that
error we go to Bush where now the War on
Drugs is important but how can we have a
law on drugs if we are now pushing the
drugs in this community
right and then
we get two non-mandatory minimums and
then we get to Clinton where we get
three strikes you out so now before we
can even deal with the money mindset we
got to deal with the pillage and the
breakup of the family that happens and
so now when a family is in survival mode
we can't think about money because now
we're trying to how is this next meal
possible
right Financial trauma
Financial trauma now is anchored to who
we are so for me when I was in prison
when I got exposed to
damn I'm playing the wrong game I had to
look at the pieces on the board
like in my night in my bishop and my
Rook I damn sure ain't the king
so I mean I'm a pawn
s always get sacrificed
so I'm always being sacrificed how the
hell can I win this game
something got to change
and so one of the things I knew that I
had to change was my relationship with
money because that's how you change what
piece you are on the board that's how
you change the piece you are
and then what happens with the Palm on a
chessboard is if the pawn can find a way
to get to the other side of the
chessboard he then could become whatever
he wants
and for me it's the two things the
information and learning how to use
money I can become any piece on the
chessboard
and so now for me once I learned about
money once I started healing my own
Financial trauma it was easy for me to
now start talking to people about it but
also improving my life because now money
is not the thing that dictates me it's
the vision it's the how do I become
successful for the next Generations how
do I help the people that I know heal
their financial crime we can't even talk
about money we can't talk about wealth
we can't talk about winning in this
world if we don't disattach ourselves
from the things that's keeping us from
being successful and that is for me
Financial trauma that is a harsh pill to
swallow and just a forming that is just
think about it like this why is that a
hard pill to swallow well because if you
think about it most people like to
reflect I mean deflect right it's not my
fault um
um you know
think about the years of slavery think
about this people like to deflect they
never want to take full accountability
for it right but healing that Financial
trauma saying yo check this out we
talked about it earlier if you have more
money under your bed in your closet than
you have in your investment account or
your savings account and that's
Financial trauma if you are saying
things if you're doing things like you
know you're badly making and you know
you live in check the check but for
Christmas you go spend money you don't
have to say well my kids can have a
great Christmas that's Financial trauma
because what you've now taught your kid
is it's okay to spend money you don't
have to have a good time and then come
back later on and have to pay that or
digging yourself in a deep hole so
somebody has to break that Financial
trauma if not the family the generations
that follow will all follow the same
suit you need one outlier any one person
that's disrupt disruption you need one
person to do that and if nobody ever
does that you can look at a whole
lineage of other people of a family and
realize why nobody has never changed it
and so for me to change was if I can
become Financial literary if I can
become financially conscious if I can
increase my financial fortitude then I
can not only change myself and my life I
can lead by example and change my family
and then that can have another effect
that people around my friends you know
so on and so forth but it was me being
able to heal that Financial trauma in
the beginning man that was important the
only one I hear talking about something
that I think is actually really
connected which is values and
knowledge
to get the outcome that you want
when did you start like hearing you talk
about the disruption of the family
um the more I look so
I think you know my background yeah but
so my story I saw big brothering for a
kid in South Central
and I'm I I was just too young to
understand what was happening and so I
have no idea why he's acting out why
everything is just a mess
and start getting older
start Quest thousand employees that
remind me of the kid that I and I Big
Brother for him for eight and a half
years so it's a long time yeah from the
time he was eight till he was 16. yeah
crazy yeah uh and
seeing then later when I was finally old
enough to understand what was going on a
bunch of people that were growing up in
the inner cities
it is
this is this is the fiery debate right
now
is it culture or is it that the deck is
stacked against me and I felt like a man
screaming into the void
trying you've you've given such a cool
analogy if people play chess so you've
got the pawns the pawns are always
sacrificed but if you get to the other
side of the board you can replace them
with something else
That's The Human Condition
um
traversing the board is knowledge
but if you learn and no one can stop you
this is the age of free information if
you can learn then you really can become
whatever you want booze don't block
Donuts no one can stop you from doing
the thing that you want to do and so I
was just like screaming and screaming
and screaming like no no the only thing
that separates you and I are ideas
I found a better set of ideas and those
ideas govern my life it's what I call
frame of reference so if your frame of
reference is poverty and I remember
saying this before the internet was like
really popping off and so there was
nobody there to freak out and yell uh
but I was like the day I realized oh
poverty isn't about money it's about
mindset um I was just like whoa and then
you encountered the first person that's
like
offended by that idea and I was like
whoa whoa what do you mean I don't I
literally didn't understand why that was
offensive I'm like this means that you
can set yourself free you could do
whatever the [ __ ]
so
getting people to understand okay
there's taking it back to the family
for whatever reason
the predictive nature of a two-parent
household is crazy if you have one the
odds of you doing well are really high
and if you don't have one they begin to
decline
[Music]
why well so there is a disparity in
what poverty is
lack of information lack of resources
money is infinite they never stop
there's they've never stopped printing
money the problem is
getting the belief to understand that
getting a getting a belief that you're
capable
of being something nothing against
rapping and entertaining but for a lot
of people that come from my culture
that's the only way out
it's the only way out
see if you can't rap you can't play
sports then you're probably gonna sell
drugs or do something illegal because 87
percent of crimes are behind money or
just live in mediocre just leave it and
so nobody wants that right and so now we
we understand that there are better
opportunities and better segments just
in White America just 100 but what
happens is that can't be the defining
part
like I know what I said all right cool
but what stops me well what stops me is
me what stops me is me playing the blame
game all my life what stops me is me
keeps saying well I'm black they White
well that's you're not going to go far
doing that what stops me is saying I
didn't have the opportunities they have
that's going to keep it from going there
if you can get past the [ __ ] and say
all right these are real issues but the
biggest issue is the belief of myself
the biggest issue is I need to spend
more time reading and researching than
partying I need to spend more time
reading researchers and chasing women I
need to spend more time reading and
researching then you know trying to go
hang out playing that being on Netflix
all day playing a game all day I need to
spend more time developing a skill set
okay boom as I evolve as I learn how the
game is being played as I get exposure
to their game my confidence builds up so
the reason why it is more the success
barriers high in a two-parent home a
healthy two-parent home
that's important I think though the
stats are
and I'm sure just because the sort of
average to healthy ish uh homes it just
overwhelms it is the the number but the
the statistics and I remember the exact
number but your odds of
living above the poverty line it's over
70 over 80 something like that if you're
in a two-parent home obstruction
so in a two-parent home there's a formal
structure there's a hierarchy and then
there's you know there's a man there's a
woman and then there's kids so now you
have an infrastructure to when you don't
have when you don't have this is good
when you don't have a two-parent home
not saying you can be successful but now
there are so many other different
influences in your life and I'll give
myself for example right like
again I'm homeless at 16.
right but was your dad around when you
were growing I've never even met my dad
never ever in my life right so now the
influences became like anybody who I saw
had so when I'm looking at the hustlers
I'm like all right yo like he got the
girls
he got the respect he got the money
that's what I want to be like
and so I'm getting that from him I'm
learning I'm getting it from the
hustlers and then boom death jail but
because that's the only
image I have this is what I'm holding on
to
right and then when I go to prison you
know you get with the OG's and they
start telling you yo don't do this don't
do that okay cool now I've pivoted right
I've pivoted from this to this okay so
because this information is what's going
to get me through prison this the
information Gonna Keep Me Alive this is
the information that's how I carry
myself that's how I talk that's how I
maneuver that's how you you know okay
cool I got it but then
you come home when I come home and I'm a
26 year old man but guess what I still
never had a father so I'm still missing
something in my life
still missing something and honestly
that void didn't feel so I had my
daughter
right but then I'm missing that voice so
now I'm still influenced by anything
that I feel has structure right so that
two-parent home even the father may not
be the best or whatever but it's
structure you understand his position in
life you understand his position in that
family structure you understand that
Mother's position structure is so
important it limits the mistakes
the less mistakes you can make on a
journey the easier it is to become
successful let me run a theory by you
talk to me
I'm reading a book now I forget the
exact title it's by Ben Horowitz of
Andreessen Horowitz and it's about
company culture and in it he's talking
about the Haiti slave rebellion okay
it's like the only successful slave
rebellion I think in history or at least
modern history and he's talking about
the the first guy that did it I
unfortunately I don't remember his name
but the the guy that started the slave
rebellion
um his whole thing was
you can't cheat on your wife
and this is at a time where you know
you're fighting and taking over like why
can't we do a little rape and pillage
we've been [ __ ] slaves like this is
our right like why can't we get back to
people do all this and he's like no no
because your word is everything and if
you won't keep your word to your wife
how can I trust you to keep your word to
the rest of the team I was like God damn
so when I think about so marriage is
hard when I think about why staying
married would be a predictor of success
there's already a high level a high
function that you've shown by high
integrity being able to maintain a
relationship I'm not saying that
everybody that stays married has been
faithful or whatever but
you're you're able to navigate the
difficulties of a relationship of
compromise of getting to know each other
of course it's more complicated than
having just two people to [ __ ]
structure watch your time like that
you're not off doing something you're
not supposed to do so you know kudos to
all the parents out there you you have
my gratitude but
I think I have a feeling that the being
able to commit to somebody else being
able to have a rule set between you
adhering to those rules whatever they
may be to have the Integrity to
um
say you're going to do something and do
it like all of those things to your
point about
and I'll put different words on it but
I've
what you were saying was you're
influenced by these people when I think
about why we're influenced by people I
get asked a lot like hey my I you know I
love my kid whatever but they're really
struggling in life how can I help them
my answer is usually you can't and then
the person's like no you don't
understand like I love them so much
they're my kid like I can't give up and
I'm like okay for real for real you want
to know how you're going to change their
life yeah yeah tell me okay cool
uh you're gonna have to kidnap them
you're gonna put trap and I actually
mean this seriously this would work it's
the only thing I know that would work
you're gonna kidnap them you're gonna
take them to uh remote place in the
[ __ ] desert whatever you're gonna
take them somewhere away from everybody
else I usually say a deserted island you
take them to a deserted island but on
that deserted island must be a group of
people that they respect
if you are around people you respect
yeah you will want to win their respect
yes to win their respect you must
conform to their behaviors if their
behaviors are honorable you're now
conforming to earn that respect to
honorable behaviors and now you get
where somebody will turn their life
around to fit in now they can turn their
life around to fit in and go in the
wrong direction just how you get
influenced on the streets or you can get
influence in the exact opposite
direction so you have to be careful
about who you emulate come on but I like
that before you go I like that because
that's even not even in with kids but
even as adults that's what I had to do
yeah like I had to get around a
different set of people who helped me
evolve because even in that
where you're being influenced you don't
evolve in that space
right you adapt and you conform to
whatever that environment is and so if
you get around that's why the old saying
around five six million as you become
the sixth one is because you start to
take on those uh values you start taking
on those principles that they stand on
right those conversations become like
impregnated in you those behaviors like
damn time gets up in the morning he does
this he does that damn I need to do that
trap does this trap does that damn I
need to do that that's why I love
mentorships that's why I love
masterminds that's why I do that I asked
you one time hey yo like give me a
mastermind I can get into it's because
when I'm around successful people I'm
gonna go into the room I don't care how
much a success I've amassed I'm going to
throw them like I don't know nothing
because that's what I want to evolve to
so that is you're not pushing a line
you're only touching the high stoves to
people who are fighting for beliefs that
don't benefit them ah damn
most people fight for those beliefs dude
yes they do it's really interesting to
me so okay I've thought a lot about this
because I spent a portion of my life
fighting for beliefs that didn't serve
me and I really so I and I don't know if
this is a useful story to tell myself
but it makes me chuckle and it feels way
too close to the truth I'm just dumb
enough that I have to learn everything
the hard way and I'm just smart enough
to be able to figure it out so I
actually do learn and then I can
articulate it to people because I'm like
oh yeah this is what I tripped on
tripped up on so for a long time I had a
set of beliefs that were really stupid
meaning that they moved me they actually
moved me away from my stated goal they
were moving me towards a silent goal I
know you Journal I highly encourage
people to journal so you can figure out
like what are the subconscious things
are driving you but I what I wanted out
of life
subconsciously was to feel smart and I
valued I had a certain idea of what
intelligence was and everything that
lined up with things that made me feel
that I was intelligent in the way that I
subconsciously defined it I kept doing
so I ended up in smaller and smaller
rooms so after graduating college I was
working retail in a game store selling
video games
and like not minimum wage but like not
not a long way from it and
I remember thinking why am I doing this
and I'm doing it because
the boss of the place is like why do you
work here he's like you're too smart for
this and I was like that makes me feel
good now of course I wasn't thinking
that my head it just made me feel good
and so I kept doing it and I realized
looking back okay
what I do is I structure my life so that
people tell me I'm smart
and that is super dangerous because it's
led me into these really small rooms and
so things didn't turn around until I was
like oh wait a second
I don't read a book so someone will tell
me I'm smart I read a book so I can get
better at something
and
I really want people to understand that
skills have utility they let you do
something so if you go to get good at
investing you can make a lot of money
yes if you get good at architecture you
can build buildings you can build a
bridge that people can drive cars across
do you know how crazy that is yeah you
can be the next Elon Musk whatever
and understanding oh wait a second
I don't need to be smart I need to be
good at learning oh yes and that that
changed my life but that becomes the
value system what do I value in myself
do I value being smart or Worse do I
value people telling me I'm smart
because what if I was smart but
everybody was telling me I was dumb I
would have done different things back
then just so that people would tell me I
was smart because I didn't believe it
myself and my value system was people
that have this
kind of intelligence kind of the way
that people fetishize money I fetishized
being smart and so it was like I just
want to be smart like that that'd be so
cool and
once I realized oh that's a value system
I can change my value system and now
pursue something else and get all of the
sort of neural chemical rewards and feel
good and be excited about being the
learner and so then once I started doing
that then I actually started getting
good because I was just obsessed with
learning setting my ego aside walking in
like I know nothing and just saying oh
my God like make me better now the
reason that I got so obsessed with that
was because I realized they actually can
make me better and then I can go do
something somebody else can do and I can
get ahead in life and I can get wealthy
and I can build what I want to build and
I can control my time and I can impress
people if that's a thing and so it's
like whoa this is all about skills but
skills are controlled by values
so I I love that because
in setting yourself up for success and
setting yourself I say you have to be
intentional about something right and so
for me the intentionality was what do I
have to learn that takes me away from
that
like what do we have to learn so I don't
go back to prison what do I have to
learn that I don't become
dead before a certain age and then I I
got past that and then I'm like what do
I have to learn to become a great father
like right now I'm learning how to be a
father right how to be a great father we
talked about journaling one of the
things I tell my daughter right now is
okay write down how you feel and then we
can talk about that right it's easier
for her to do it that way than sometimes
having that conversation with me so
write it down and then we can talk about
it well those values now help me keep
evolving because if I want to be the
best version of who I am if I want to be
the most impactful person then I have to
install in me a certain set of values
integrity
right honesty the commitment to being
better why those well because where I
come from why honestly you could lie lie
if you honesty is so important because
if you tell people the truth and if you
are committed to
um understanding other people's truth
then people have no people don't like
the truth
because how it makes them feel but if
you tell the truth they have no no other
option but to face it right they have no
other option but to say damn
okay it's truth is like a harsh reality
that everybody wants but nobody wants to
give
right but honesty comes in there saying
you know what that's a value system that
so many people don't have and for me if
I can be honest then my name can go a
long way if I can be honest then my my
uh presence will precede me
right so honesty is something that that
people often don't want to do they'll
say something like I lie to you because
I love you
you know uh I don't tell you the truth
because I don't want to hurt you right
well if you're honest to me then I can
make that decision
if you're being honest I can make that
decision on what do I want to move
forward or not if I'm honest with you
then I know I can do business with this
man because he's an honest man I could
do business with this woman because
she's an honest woman because I know
there's no uh back end stuff there's
nothing they're trying to do behind my
back honestly it's something that's so
underrated but for me even in the
streets like honesty is so
not there because everyone wants the
edge everyone everyone wants murder is
not off the table
you know what I'm saying it's not off
the table most people in the street get
killed by somebody they know
you know what I'm saying and you feel me
and so that Honesty part is not there
yeah so for me it's it's heavy on my
list of just being an honest man man
what is up my friend Tom bilyu here and
I have a big question to ask you how
would you rate your level of personal
discipline on a scale of one to ten if
your answer is anything less than a ten
I've got something cool for you and let
me tell you right now discipline by its
very nature means compelling yourself to
do difficult things that are stressful
boring which is what kills most people
or possibly scary or even painful now
here is the thing achieving huge goals
and stretching to reach your potential
requires you to do those challenging
stressful things and to stick with them
even when it gets boring and it will get
boring building your levels of personal
discipline is not easy but let me tell
you it pays off in fact I will tell you
you're never going to achieve anything
meaningful unless you develop discipline
all right I've just released a class
from Impact Theory university called how
to build Ironclad discipline that
teaches you the process of building
yourself up in this area so that you can
push yourself to do the hard things that
greatness is going to require of you
right click the link on the screen
register for this class right now and
let's get to work I will see you inside
this Workshop from Impact Theory
University until then my friends be
legendary peace out
one thing about honesty that I find
incredible is so you said you can do
business with somebody that's honest
that's where I think people really get
why honesty is so critical
[Music]
if I so a relationship to work well to
be a high functioning business friendly
relationship I need a sort of
deposit and withdraw system
so no you should never do it for the
deposit withdrawal but there is a
reality to be facing Human Relationships
if all you do is give give you a given
the person never reciprocates it just
humans are not wired for that and so it
won't work the relationship will go your
Separate Ways
but if when I make a deposit I'm like
I'm going to be able to make a
withdrawal here at some point in fact
trap you know where I think this comes
from this is [ __ ] interesting when I
heard this laid out I was like oh my God
think from an evolutionary standpoint
there's no refrigerator do you know how
you store calories
so let's say that you take down a
buffalo okay you can't eat it even if
you said ah everybody back off this is
my Buffalo get away from my Buffalo I
will kill you and your whole family if
you touch my Buffalo you can eat it as
much as you can literally until another
bite and the lining of your stomach will
tear okay you're stuffing your face it
will go it will rot before you can
finish eating it so now you have this
dilemma even if I want to be selfish
I can't eat the whole thing
but if I let other people eat it I don't
get anything out of that but you do
because by feeding them you're now
storing calories in them they're eating
their full they've got fat what happens
when you don't kill the Buffalo but they
do now they're like my brother please
come to my table and eat
so it all that I'm going to say that
again you can store calories in another
human being I like that by feeding them
when you have an abundance I like that
they get to eat and now they will do the
same for you I like that that's honesty
it builds trust that word if I feed you
you're gonna feed me next time and so
this is where you get into reciprocal
altruism where yes you're doing
something nice but
it just comes back to you and people are
I think they they feel icky when they
say part of why I do this is to make
sure that I'm taken care of but that's
awesome that's how people cooperate as a
as a group that it's give and take
always so
honestly I think the reason so many
people gravitate towards it is when I
can trust you one Evolution has made
that feel good so it just feels amazing
I've told I tell people in the company
all the time it really hurts to tell
somebody something hard it really I
don't like saying it and I know you
don't like hearing it but if I tell you
the hard things you know you can trust
me no because you know exactly my mental
map of who you are and so now there's no
like unease about what's what and so I
know if you're quiet it means you have
nothing to say versus to your point
murder's not off the table it's like
well is this going somewhere bad so you
can do business with somebody when I
know if I make a deposit today that I'll
be able to get a withdrawal later at
some point
huge okay so honesty integrity was the
other one one how do you define
integrity this is the one thing I tell
my daughter doing the right thing when
nobody's looking
if I'm willing to do the right thing if
I can do it like time is my guy so I'll
give you an example so a couple friends
of mine had a huge event that they put
on and somebody hit me up and was like
yo I would like to be a part of that
event big person and I would um because
they thought it was my event and I was
like yo that's not my event I'll put you
in contact with who that event is for
that's Integrity because I could have
kept that to myself try to do something
in the middle try to make some money off
it bitter Biddle man I didn't no look
it's my guys here here's the information
y'all do that don't put many email no
more handle your business integrity
Integrity is me being able to do
something without me even expecting
something on the back end but on a
strength that I know Tom is a good guy
hey Tom here's my people man here's an
alley-oop yo I don't need nothing from
it that's Integrity we talked about
business earlier and I'm sure we'll get
to but we talked about the healing
Capital part I mean the capital part
that people need in in building a
successful business
the next thing next to building a
successful business that's more
important to me than money it's building
integrable relationships
building relationships with other
successful people are building
relationships with people that's based
off Integrity can help your business get
to another level because some rooms you
can't get in with money some rooms you
can only get in based on who you know
there's some rooms I can only get in
because time says trap is my guy
there's some room that that I don't care
how much money you got that's not the
value system here the value system to
get in this room is based on the people
in here do good business the people in
here are integrable this is the room you
need to be in money can't get you
because everybody here got money what
are you doing money is no longer the
option you're gonna be based on what
integrity
and honesty truthfulness those are the
things you can be based on and so even
in business integrity and honesty is
important massively
yeah it's uh it's it's really
interesting I mean this again goes back
to culture rides in the back of values
what do we think is good what do we
think is right
and when I look at you so it's
interesting for people that haven't seen
your show come on man trapping Tuesdays
come on man uh watching it was really
interesting because you you're attacking
it from the point of value so you'll
talk about your family you talk about
your daughter I heard you tell the story
about your daughter and there was
friction at school and how you helped
her through it and you're like like I
know I haven't talked about stocks yet
and I was like you haven't but this is
why your show is doing well because
getting the value system right
understanding how to think knowing how
to sort of move becomes really important
and so that idea of that a culture is
malleable that you can create a new
culture
[Music]
um
being a part of your group will have its
own culture right same with impact
Theory it's like there's a culture
there's a culture to being an employee
there's a culture to being in the impact
your University
and when you think about you've got your
your frame of reference is being built
around all of these things it's the fun
house mirror that we all see life
through there's a guy named Donald
Hoffman who says everything that you
experience is real life the only thing I
can tell you is it isn't true
at all and so we were sitting at this
very table when he explained to me Tom
when you see the surface of this table
what's true about the surface of this
table is its mass the number of photons
that are reflecting off of it all that
if you try to live life by going oh that
has a mass of this and there's this many
photons bouncing off in this part of the
light spectrum he's like you can't get
anywhere way better to go this is a
table and it's sort of Gray and he's
like that's what humans have evolved to
do but that actually isn't the
underlying reality okay so your brain is
creating a wild simplification of the
truth and this is my favorite example
that he uses and I am going to answer
the question about reading right right
uh but
the example that he uses is is let's say
that you're in a VR game of uh Grand
Theft Auto
you think oh when I turn the steering
wheel in the game The Car Goes left if I
turn left the car goes right if I turn
right he said what's really happening is
electrical volts are toggling back and
forth a trillion times a second or
whatever inside of your PlayStation
but if you had to go toggle the
individual voltages to get the image the
pixels on the screen to move in a
certain way that it looks like a car uh
going left he was like you'll never be
able to play so you need the just
ridiculous level of simplification in
order to play the game
[Music]
that's life
that's your frame of reference but it is
so
abstracted from the reality that so uh
I'll put it into my terms
I grew up lower middle class
in almost rural Tacoma so I didn't have
cows but my neighbors did yeah to give
you an idea uh and I was taught to be a
good employee to keep my head down do as
little work as possible and avoid
punishment at all costs
um that it's all about make as much
money as fast as you can you know
trading time for money like they
wouldn't have even known to say don't
trade that you are trading time for
money that's just the only way they knew
how to make money so that was my frame
of reference part of it the other part
was oh I feel good when people tell me
that I'm smart but I don't realize that
so this is the Distortion that my brain
is creating over time and I don't
realize that these are things that I've
chosen to believe that they aren't
accurate representation of the way that
the world really works and that I can
get so good that people can't ignore me
that even if I am uneducated today that
doesn't mean I have to be uneducated
tomorrow that even if I'm frustrated
that I'm not as intelligent as I would
like to be which I'm not by the way but
I can get 100 100 times better at
anything which anybody can so my frame
of reference began to shift from I'm
stuck in this brain and body that I'm
not very impressed with to oh actually
you can grow and get better that change
in frame of reference took me from
scrounging and my couch cushions to find
enough change to put gas in my car to
building and selling a billion dollar
business come on man so ideas frame of
reference so I now see the world through
a different fun house mirror it still
isn't objective reality but it's really
useful okay so you've got this frame of
reference critically important to
understand
all right so because I know frame of
reference is so important I'm constantly
trying to get new information to alter
my frame of reference however useful my
frame of reference has become I have not
reached an end state right so you can
constantly re-warp that glass to show
you the world in a way that's more
effective that's the easiest way to
think about it so effective as defined I
have a goal is my behavior my beliefs
and my values moving me towards that
goal yes or no if yes you are operating
in a way that is more true or accurate
right you you can predict the outcome of
your behaviors that to me is truth
[Music]
we could really derail on that I won't
for now uh so all right so my I'm trying
to shape my frame of reference so that
the way that I think and act moves me
more efficiently towards my goals you
get what you celebrate I think about
this a lot as a CEO that's good dude you
get what you celebrate that's good and
so if you celebrate being a badass this
is the same with inner city same with
being in prison it's like you get all
these different cultures and you're
going to get what you celebrate oh God
I'm going to keep derailing have you
read Up From Slavery no
I have not Booker T Washington I have
not controversial figure I like it I
can't figure out why but that book he
was born a Slave
and he was like
there's a way out of this
I can get so good people can't stop me
becomes the punchline but he starts a
college
trap he was born a slave he starts a
college that's still running today let
that sit in real quick right when I
think about will impact Theory
University outlive me about not as of
yet insane how does he do it culture do
you know that he made the students in
his university
the students in his university had to
learn jeromeo please
brick making they had to learn how to
make bricks trap why so that they could
build the buildings so that they would
have respect for the knowledge because
he was like if they just roll up and
this is all easy and he was like people
would show up outraged outraged you're
gonna I I was a slave I'm sending my
kids to your University and you're
making them build bricks like what and
he was like I'm telling you right now if
people build the stuff themselves the
level of respect that they will have for
the hall the way they will hold each
other accountable and I was like forget
what the culture was because it's
different now and of course it's going
to change
structure certain somebody said that at
the beginning of this episode structure
there are things that we do here and
there are things that we don't do here
he instilled a value system that allowed
them to say
because values tell you who's in and
who's out
oh you made the best and by the way they
they became known in like that region of
the South for making the highest quality
bricks so now they can sell bricks to
fund the school dude it was so insane in
reading the book and I'm like this is
[ __ ] genius
[Music]
values
creates a culture you reinforce the
culture by what you celebrate and what
you tolerate that culture becomes so
profound that you can defeat
Nations so going back to the slave
rebellion in Haiti I need to memorize
this guy's name forgive me I'm in the
middle of reading this book I'm
literally just no but I don't pronounce
it wrong and I won't be different no
please please please no no no I'm just
even as people
um I don't want to say it wrong
um I I remember because I went to DC so
I don't want to say it wrong uh say it
as wrong as possible I can't even
remember it's kind of French sounding
yeah it's a French it's a French name uh
I don't want to say it wrong
uh
I'm not gonna say it wrong all right
fair enough let me say this though
please we were talking about you were
talking about watch this the bricks the
people who build the bricks
for
the college
they'd appreciate it more
the exact same thing goes with Building
Wealth
the person who builds the wealth
in the beginning so I use myself as an
example
I become the Pioneer I become a
Trailblazer I become the person who says
that
my family will eat for a lifetime based
on the decisions that I make today
based on the information that I've
gained and applied
because I'm the one in the beginning
stage building it
I will respect the wealth more
if I don't install those values in my
daughter
if I don't install in her the respect
for money
if I don't install it in her why
investing is important then what happens
is she inherits a lot of money but don't
know what to do with it
and so now
she may live well
but the generations behind her don't
benefit from it because they never had
an attachment to the money they never
had an attachment to the wealth they
just got the wealth they obtained it and
so when I think about Cornelius
Vanderbilt
we never talk about him in
the pioneers of America the richest men
in the world we never talk about him why
because after he died his son did enjoy
the money but no generation after that
did because they went broke t-shirt to
t-shirt and three generations it went
broke but we still talk about JP Morgan
we still talk about the Rockefeller we
still talk about the Rothschild we still
talk about Sam Walton who has five of
his grandchildren and kids on the
Fortune 500 list always why because
there was a culture that
the culture was about building that
Walmart brand but then what we don't
realize about passing well done is it's
not just about passing money down
it's about passing down information it's
about passing down bylaws it's about
passing down structure it's about I just
so I just lost my great aunt
um and I'll talk about on my last show I
just lost and she was The Matriarch to
my family
right she was The Matrix she held it
together in 11 months before that we
lost her sister right so they were the
last two and I honored them they did so
much for me on my journey
um
and now that both of them have now gone
our family now has to be restructured
we have to now install New Traditions
not saying it always run well but for
instance we were all good at her house
for Thanksgiving right we were all
everything she put things in place so
now that whole entire generation is gone
to the generation that's available now
is my mother's generation so it's my
mother her brothers and then I'm the
Next Generation and then my kids so on
so forth so now we have to do now is we
have to now put new values in place
we have to put New Traditions in place
we have to put a new structure in place
and because I now have the financial
literacy now I'm talking to my uncle the
other day he like trap like yep I'm the
leader
but you're up next
and that meant a lot to me and in a
minute I got scared because I thought
about yep I teach people about financial
literacy all the time I talk about being
a CEO of my family I talk about turning
My Family's last name into an asset but
now I am now because once you I always
say this once you get the information
you are not responsible
like it's okay it's not okay but I'm
saying it's using this figuratively
it's okay that I mean literally it's
okay you know you're blowing money
because you don't know no better
right but once you become cognizant and
once you have the information now you
are held accountable and so for me now
more than ever I am held accountable one
because I went from homeless to being
where I am now right nobody else in my
family went through that I went from not
just once but twice
so building a business to learn how to
invest to giving my daughter a custodial
account who I'll she'll be a millionaire
before she's 15. right damn these things
are so important to me so now we set new
rules we set new rules of engagement
what are those rules ain't gave okay so
now everybody my little cousins just had
a little boy I said bro we got to open
up a custodial account now like now he's
a couple weeks old we got to open a
custodial account up now while I gotta
do that because because if we start
investing now we can now increase him
being a millionaire but also we can
start implementing impregnating him with
certain things right we can start
talking about money once he gets two
years old like my daughter she's six her
ABC's for me come in the form of a is
for asset BSN Bank C is for Credit Union
right this is how the ABC is coming up
does she know the word fiduciary she
know what it means dude that's
incredible right so that's how the ABC's
and I'll talk to her e is for Equity
like that's how we now you got to give
me a okay so what does it mean now not
just the norm what does it mean now
right and so now you we go to Disney
World you you know you own stockiness
right when I bought for her birthday she
made six I said what do you want babe
she's like I want to buy some Roblox
stock right so normally for me it's
breaking down the business
going through my whole process but for
her it was like let her get the exposure
to it so yep let's buy the Roblox stocks
how many shares you want she said I want
16 and then when I pulled it up on my
phone she said no I want a hundred cool
we bought 100 shares for our birthday it
don't matter that the stock is down
right now because it was her identifying
that instead of getting me this this is
what I want so now for me it's
that my great aunt is gone this now has
to be a she's transition this now has to
be the value system that we stand on so
everybody that has a kid as soon as you
have a kid we opening up a custodial
account but then we're going to double
down with it and say when that person
has a kid and open a custodial account
everybody now is responsible of putting
the first fifty dollars to it right so
now we implementing new rules we're
implementing things now that every
family now has to take on right and now
everybody Embraces it and so changing
that Dynamic of my family implementing
new rules becoming the leader if we look
at a lot of people's family no one has a
real leadership in their family but when
we look at successful families
there's leadership there I don't care
how am I gonna like the Kardashians or
whatever how you feel about them that
mother leaves that tribe
right and then if we look at it okay she
leads that we look at The Waltons
somebody leaves that tribe like we look
at every Rich family and then after the
lead is gone someone has grown to step
up and take place so the family
structure doesn't fall the Vanderbilt
didn't have that and so now their
families never talked about
right so for me it's how to you know
just with my family how do I now
Implement those rules because I am not a
leader
and the most the most
scariest thing anyone can do ever coming
from lower class middle class poverty is
the the most important financial
decision to ever make is how much of
your money that you make from your
paycheck you're going to get to work for
you
it's the most important decision you
ever made financially because if you
never know how much money from your
paycheck that you worked hard for that
is going to work for you then you're
always going to have to work for every
paycheck
and if you got to always work for every
piece of income that you have physically
put in that labor you have a cap on
which you can make that's just the truth
of the matter and so you know just
changing that when you just gave that
book of T Washington scenario that's
what just jumped in my mind of you the
family members don't appreciate the
wealth if they didn't contribute to
building it so now how do we set a
culture
that makes everyone contribute to
building the wealth of the family I for
me I don't want to focus on closing a
wealth Gap I'm not that's not my focus
my focus is how do we now contribute to
every person's family increasing their
purchasing power right the interesting
yeah I gotta tell me more about it what
do you mean so you're not interested in
focusing on the wealth God that's just
the wrong thing yeah I think that's the
wrong so how can we how can we and so
I'm always because it's about comparison
why not focus on that so well you think
about this so you say okay the wealth
Gap is growing okay well when you look
at it if someone has someone has a 200
year America as it was built right so
the slaves now have to catch up to where
the slave master was if we're looking at
it like that like that's it's hard it's
a race you can never win so if you're
coming from poor you trying to close
somebody a group of people who've had a
300 year head start on you like if you
even if you looking at it like that you
can't win because you coming at it from
a defeatist from a victim Viewpoint man
they have four years head start on me I
could never catch up no that's not my
thing like the wealthy people already
know how to build wealth they're going
to keep on compounding well they're
gonna keep on on making sure they make
the right Investments they're going to
keep on making sure they build
businesses they're going to keep on
making sure that they're ahead of this
curve okay the economy is going to crash
guess who's going to win more money than
all in a recession the wealthy people
why because poor people are panicking
right now if we talked about inflation
going up well guess
the the average person in America spends
more money on Transportation
bills and food no matter who you are
those are the big three right well if
you're poor then now because inflation
is so high that instead of eating a 50
of your paycheck now it's eat up 75
percent of your paycheck right but if
you're already in the upper echelon you
was going to do that anyway it didn't
matter because you still have
Investments you still know how to
maneuver in this type of market so why
waste time to me why waste time on
saying yo how do we close the wealth Gap
no that's not my fight my fight is how
do we get the information that help us
participate in the game
and the values
how do we get that yeah I
I see you
pushing both which I think is really
really interesting and super important
not closing the wealth Gap so it's
interesting I also think it's the wrong
place to look I won't deny so when you
look at right now baby boomers have a
lot of wealth in their bank accounts
there's about to be a huge transference
of wealth 25 trillion since my since I
was how old was I that's a lot that's a
big number that's a big number uh when I
was 21 I received the last dime from my
family that I ever received
and I graduated with college debt and my
dad literally did a countdown I'm
actually grateful to him for this so he
did a countdown five more months four
more months three more months two more
months every time you send my rent check
so basically paid my rent through
college and then that was it and he
wanted me to know the day you graduate
that's it there's no more and so when I
think about okay after that I got an
education a hundred percent fair enough
but this is why my punch line is going
to be it's the information yes not the
money so I was literally broke the
scrounging in the couch cushions is
actually a real story at the time I was
so traumatized but now it makes such a
good story I'm so glad that that
actually happened
um imagine being so desperate which I
know you will not struggle with being so
desperate to put gas in your car you're
like maybe change has fallen out of
people's pockets in the couch and I can
get 75 cents or whatever to put gas in
my car crazy uh and
so I was super poor and then turned my
life around I should say I was broke I
was broke and then completely changed my
financial situation with information
so I struggle a little bit with the idea
of
um the the wealth Gap is increasing what
I would say is the compounding effect in
any one life
of knowledge and the the knowledge
that's driven from the values that you
have
that's where this gets problematic
because any one person maybe
statistically but any one person barring
a big inheritance which my parents are
boomers and I will have
I have given my parents more money than
they will ever be able to give me so
that certainly is not something that I'm
going to reap any benefit from
but
in my own lifetime I was able to you
know gazillionx my own return what was
that switch though
when I went from thinking of myself as a
finite entity that what you know is what
you know you're as smart as you're going
to be and so that's that to realizing
that I could learn and get better
and so it's a little bit like imagine so
in in poker I forget the type of Poker
where you start in fact it's it's just
like um Texas Hold'em
so your delt two cards and then they're
gonna lay three cards down in front of
you that is life so now you're like
okay the river 100 I've got something
and this this may suck what I'm holding
my hands May suck but how do I play it
am I good at reading other people am I
good at bluffing whatever so some
ability some luck that 100 is life but
according to the science fifty percent
of who you are is hardwired 50 is
entirely malleable I agree and so it's
what are you doing to make use of the 50
and so I just want people to obsess over
that like you can get 100 times better
at anything I'm never going to be better
than LeBron James of basketball right
but I can be a hundred times better than
I am today if I completely gave myself
over to it was like I'm going to get
good at that one percent better every
day that's that's literally my thing
like hot I'm always so this is a switch
I had to make in business
so
I had to because I see so we have this
thing like because so many people have
has have gained so much success
um during these last couple years
one of the things I did on Instagram was
I unfollow everybody
um follow everybody because
I started seeing how it was shifting my
vision
I started seeing how I started comparing
myself
I started seeing how like we was doing
great things I was we building a team up
like I'm I'm stepping into the CEO mode
you know I'm going out I'm going to the
different conferences I'm going to the
different masterminds I'm getting the
information I'm applying it and I'm
seeing the 10x results but then I'm
saying bam I'm comparing myself to this
person damn what I just did damn this
ain't enough and so when I started I
just unfollowed everybody and I said I'm
only following Fitness people and TD
Jakes that's the only person I follow
all right because Fitness is important
to me right now and then TD Jakes
because I love to get there I think he's
the greatest speaker of our era just for
me I think he's the greatest speaker of
our era the way he can deliver a message
he's not just a pastor about God he
talks about life he talks about business
and what I did what happened to me in
that moment was
I was able to lock in on me
because what happens is we can get
comfortable I always talk about this
fear finally exiting the average reality
I always talk about that because even if
you amass so much success or you imagine
hitting different levels at the time
that becomes your average and you'll get
comfortable there and if you get
comfortable there you can only stay
there for so long before you lose it all
because Comfort nothing happens in a
comfortable space for sleep
sit once you get comfortable you get
tired you get comfortable you doze off
and so for me
it'll allow me to
gather all my information and apply it
and then just build and then become
better and then I started looking now
again looking at people like you
studying what you're doing as I build
out this platform study people like you
study with CNBC doing studying people
who are operating at a high level and
saying what I know is nothing
and be embedded in who I was yesterday
like how do I be better than a trap from
yesterday what did I do and I do this
every day now I've been doing this for
the last 90 days at the end of my day I
analyzed what I did in that day
how much did I do to help me what did I
do that didn't help me go nowhere and
then how do I get up the next day and
attack Full Throttle
and then I came up with Phil
fear always interrupts Legacy
Phil
be willing to do it be willing to get
past the fear because the fear
interrupts the Legacy that you're trying
to build that you're going after and so
if I'm going after Legacy I got to do
more than be consistent we talked about
this earlier I got to do more to be
consistent that is part of the equation
but in the consistency how do I keep
growing how do I stay motivated and what
are those tweets that I have to make
along the way I can't make those
decisions I'm always looking at
everybody else
and so I've learned to be like all right
this is how we operate high octane
high level 93 this is what we doing
every day and so now I'm not just being
a great communicator but Building Wealth
for my family
mastering the markets like in my mind I
read a thing that Warren Buffett said he
reached 500 pages a day that pisses me
off because after about 30 pages I go to
sleep I get tired I'm like how does he
do it right so he's listening to audible
books so now that's the challenge
because he's the Apex investor
right he's the Apex investor to me like
he is top of the food chain and what I'm
loving to do I love the stock market so
if he's Apex and he does this it shows
that I have a lot of I have a lot of
stuff to grow towards right because he's
90 something he's always still learning
again we go back to information
right he's accomplished something that
most people would know he's the richest
man in the world at one point in his
life right
how that means at 40 years old I have a
whole bunch of learning to do
and so I become the learning machine how
can I read as many books as I can to
become better how can I can easily
become comfortable with what I learn and
invest in like I've we've done great
things we was a mess we've taught a lot
of people how do we get better
and if we focus on getting better every
day a Compound Effect how do I not only
compound my wealth how do I compound the
information how do I compound my growth
because who I am right now
is a compound effect of what I was three
four five years ago
and everybody needs to understand that
who you are now is not because of the
decision you made yesterday these are
compounded decisions that you've made
that evolved in what you are right now
and so now I want to compound what do I
compound into into the future
how do I compound the best version of me
in the next three years five years how I
become the Apex trap how do I do that
like that's that's the goal that's
that's what we shooting the aiming for
and then how do we impact as many people
as we can
how do I go in every Hood how to go in
every ghetto how to go in every prison
system and say yup I was homeless too
family
yep I got shot too family yep I went to
prison for a Timber on Robert family yup
but guess what I did I learned how to
play the market
it's the best game you can ever learn
because they don't care what color you
is
they don't care about none of the
excuses don't care if you got three
felonies don't care if you got two
feelings it don't care what you got can
you play the game
and if you can play the game at a high
level the return on investment is
infinite
and if we can play that like that and if
I can do that and if I can keep being
that that person that people see and be
like yup he did it
he relatable so I he talk about stocks
but he do it in a hoodie he'd do it in a
t-shirt he do it with the sunglasses on
he talking in a way that we can
understand it then I could do it too
and that's representation that's me
being the best version of myself
that's me showing that wealth is
attainable one share at a time why one
becomes two two becomes four four shares
become eight shares eight shares become
16 shares people don't invest in the
stock market because they don't feel
like they got enough money that's why my
Mantra is one [ __ ] at a time
right and then and from that
it becomes attainable people people
don't want to go out the world because
they feel like it ain't fun
the belief system we talked about the
financial trauma what other beliefs that
you anchor to that keep you from being
moving forward how do we cut those
beliefs how do we unanchor ourselves
from the lack of the scarcity how do we
unanchor ourselves from that
but we got people in this world we're
billions of dollars that mean the money
is there
they got information they got structure
they got community
right when I look at you look at your
team you got people right you ain't just
building this by yourself and I'm pretty
sure you thankful for them all the time
more than you know I'm becoming more and
more obsessed with this yeah yeah so
look I've I've built things in my life
and so I know the power of people but
the longer I stay in the game the more
I'm just like
dude
you the amount that you can do by
yourself is amazing it'll startle you
right but right as you get into real
scale you realize wow the amount I can
do by myself is really paltry compared
to what I really want to do
and it it really does come down to
people like how awesome are your people
and this is the hard part man
I love to see people succeed but the
problem is that leaves me open to
creating space for B and C players yup
to make me feel like they're gonna make
it they're going to change and then I'm
I'm fatiguing myself by carrying them
and that's hard that's hard
because it's like damn you don't want
people acting out of fear you don't want
them being
um you know thinking that you want them
to know that you care about them right
people don't care how much you know
until they know how much you care word
okay I subscribe to that
but let me tell you there's an advanced
class to that and people don't perform
until they know that there's [ __ ]
standards and those standards are going
to be met culture values what you
celebrate
it's it's a tricky line to walk man a
real tricky line to walk because I want
one I attract people that have seen the
content so someone Godly number of our
team here
saw the content first came on board so
they they saw me as a Beacon of Hope and
then they get in and I'm like yo we're
[ __ ] Warriors here we don't play
around yeah and so oh man it's uh it's
so important to make sure the people
around you adhere to a standard it's
important to give them a chance to grow
and get better
you gotta have a standard man that's a
fine line standard it is it's it's hard
like even now at this stage of my career
you'd think I like have this down path
it's hard yeah because I I know as I'm
building you know just on my journey I
think again I'm never comfortable
right because I always again when I see
you I'm like yup he's still going and I
study the game and I think everybody
should study the game that they play
right study the people even I tell
people this is in Wall Street like study
the game study the rules instead of the
plays right when I mean but I study the
game what is the broad goal of the game
what is the goal what is the
ramifications that's it then study the
players who's playing at a high level in
the game that in the field that you're
going because that's going to be what
you're looking at you can see the
strengths you can see their weaknesses
and then what plays do they love to run
right like every team when you think
about the Lakers you go like you're the
head coach for impact Theory you know
what I'm saying and then your team
everybody has strong suits so when I
look at when you look at the Lakers
under Phil Jackson triangle offense
mastered it right when you study Bill
Belichick he did what's called um
damn I forgot what it's called but like
ever he didn't run plays they ran plays
based on whatever wherever they were on
the field and how much time was on the
clock that's how he called plays and so
you look at the players in the game what
are their strong points so when I look
I'm looking at okay bam they have time
doing a million views all right like
what is the sauce that he's doing what
is it that they're learning what is that
he how is he impacting people I'm always
looking when I'm looking at Investments
what is Warren Buffett really good at
what is Joel Greenback really good at
what is Peter Lynch really good at so I
can study it and then I want to study
everything they told me when they messed
up the mistakes they made like that's
how you get better this is why football
players and allies get better because
they study film we want to become
successful investors we want to build
wealth but we don't want to study the
film we want to Freestyle our way to
vote and put 100 right here it's gonna
make me a million dollars nope that
ain't gonna happen fam I can guarantee
you that ain't gonna happen right but
how do I study the film how did you
compound to success
right it wasn't one thing how did that
10 years turn into overnight success
because that's what people don't know
you see the successful Wall Street
travel but what happened when I was
homeless like real homeless not just I
moved out my mama house we got no homes
because you don't got nowhere to go
because my mom went to prison and
because my family members at the time
they had their own thing going on so I
had nowhere to go what did I do when I
was sleeping another abandoned house
what did I do when I was sleeping in the
corner in that crack house but everybody
smoking crack out of Coke cans out of
crack pipes I'm in a back room like what
did I do in those moments right what did
I do when I was sleeping in an abandoned
house what did I do when I was sleeping
in abandoned cars what did I do in those
moments those are the moments you don't
see but those are the moments of when
I'm figuring out damn where do I go with
my business and I'm stuck those are the
moments that give birth boom here we go
what do we do then we never gave up
right and so being able to use
those dark moments in your life
as a moment of empowerment
instead of victimizing yourself
how long will you hold on to the victim
and talent and most people are so great
at that
most people are so great at holding on
to the victim aspect of anything
when it comes to building world you can
put it up right I put up a clip on my
Instagram the other day where
um God was saying that
um you know white white Americans are
successful in America not because of
anything other than they know how to
maneuver during certain economic
um
environments politics
um
recessions they understand and I was
like and so many people in my post was
like well let's not forget about slavery
that you'll never become successful if
you hold on to that yep that did happen
but are you going to hold on to that for
400 more years
are you because if you are stayed up but
if you can say hmm
how can I learn how can I learn from
something that maybe the people before
me didn't learn from where is the gap
where is the where what did they didn't
what didn't they get when I look at
civil rights leaders like every
generation has to transform into
something else I was civil rightly when
you look at Malcolm X Martin Luther King
Fred Hammond two of my favorite black
men of all time they didn't even have
time to get into the money component
because they thought about civil rights
right and so now when you evolve we
those leaders no longer exist no there's
no leadership and so now everyone is
trying to Freestyle their way to success
freestyle their way to freedom and all
they have to look at is the past
bam slavery we can't keep going back
there
right we can acknowledge it we can get
history and culture from it but we can't
anchor ourselves to it
we cannot I can't anchor myself to the
fact that my mama did drugs my mama so
drug I can't let that be a reason why I
don't be successful
yep it's painful yep I went through it
like imagine what it looks like to see
your mom get shot in front of you that
is a painful traumatic experience
right and then the color back of maybe
five six years later and you see your
mama overdose on drugs she didn't die
that's another painful
traumatic experience that I can anchor
my life to that and then we can add on
to the fact that I felt abandoned right
that nobody was there for me I can hold
on to that I got all the right to hold
on to it right I got another I never saw
my father if I don't know my father but
let's hold on to that too
right and so now I've anchoring myself
to all these traumatic experiences and
now I've given myself an excuse not to
be [ __ ]
I never had a father so I'm I'm not
going to be a good father to this
beautiful little girl I gave birth to
I can hold all of those traumatic
experiences in a ball and let that be my
core instead I cut that and released
that [ __ ] and say you know what
because I didn't have a father I'm gonna
be an amazing father
because I saw my mama do drugs I saw
some of my mama sell drugs that was her
traumatic experience I went through some
of it but guess what I'm gonna be better
than that and I'm gonna show my mom a
better life I'm gonna show her that I
appreciate everything she went through
but here's a better life right because
my people went through whatever they
went through I'm the reason to say I
want all of my ancestors my I want them
to be proud and say you know what that's
it right there
he stood on integrity
he stood on it he was honest he built a
different type of culture not just his
family but for the people around him
somebody got to be the Pioneer somebody
got to be the Trailblazer somebody got
to be willing to take the risk to change
so that's what I represent that's what I
won't stand for and I won't do it my way
I'm gonna do it my way man
where can people follow you as you do
so right now man just the Wall Street
looks like us now Network
on YouTube Just building that
um I want everybody to just see it every
Tuesday
everybody to fall in every two to seven
o'clock it's fought on YouTube that's it
come there we just being impactful it's
not just about stocks it's about stocks
it's about information but it's about
setting new normals it's about helping
you free as Hell by understanding the
information and evolving mentally and as
a person man
you know I love it love it man all right
everybody if you haven't already be sure
to subscribe and until next time my
friends be legendary yeah take care
peace if you want to hear more on
mistakes that people make that continue
to keep them poor check out this earlier
interview that I did with jaspreet Singh
why Financial education is so important
is because if you don't understand this
you are going to get screwed over by the
system