Meet The Man Who Ruined Chick-fil-A

welcome back to the iced coffee hour this podcast educated guest this time has made two hundred and three thousand dollars getting closer two hundred and thirty three thousand well i got it pretty much dead on 866. yeah just minus the three great guess yeah you've made fifty thousand dollars since i've been here last night hasn't really hasn't really been i swear it was one am when i was here last solid we'll take it where did the money go jack [laughter] it's been three months has it really you guys wow i'm gonna start a podcast that's not bad you should man people love you because we had you on last time yeah with the video titled something like the man who owns 100 lamborghinis for 100 or for 10 million and you were telling us about your stories and how you rented out these super cars to these people and they would crash them it'd be a huge liability issue and i know you've been recently trying to get out of the uh the car rental the luxury sorry not get out of it but expand your horizons into others now i'm the man with 10 million chickens 10 million chickens [laughter] it's funny uh uh daniel mac came up next to me in my koenigsegg and uh you know asked me what to do for a living i was like i just sell chicken now and and he just it was actually a pretty funny story but uh he didn't understand it you know and i thought it was actually really cool because that means i'm doing something right you know like when someone doesn't get what you're doing then you're doing a good job you know yeah so renting cars is becoming oversaturated and like insurance and just so many little things are becoming just too much honestly like it i just don't see a path how this business exists in five years so transitioning into you know chicken was the only way i saw a way to like continue to monetize my skill set right and and grow to a level to where we're international or you know just national is is good enough but uh that business you can just drop one anywhere right like we've got a thousand plus franchisee applications now and we're getting um all over the world right we have like flagstaff arizona with 73 000 people and we have like the united kingdom saudi arabia i mean you just name it people want to put one there and like when i started to have the idea to maybe franchise royalty it was miami la that's it i believe that yeah you know it's like there's not really much you can do with that business now that business is sexy right everybody wants not very many people have unlimited supercar power right i mean that was kind of one of the things that made me popular right is the ability to just drive any car at any time and funny enough i never drove my rental cars i always had this weird anxiety that they'd be like dirty or something you know which they're not but like i don't know really it's kind of like let's talk about the rental car business first of all how has that industry evolved how has turo impacted it and why are insurance rates going up so much why are we hearing about this auto bubble well luckily um turo hasn't impacted my particular business because my particular price point of cars isn't really on touro every once in a while someone throws a lamborghini up there for like 700 bucks but that doesn't affect me you know but it affects everybody else um turo i think don't hold me to this but they have been doing like five and 10 million members right that's not that many people when you think about a nationwide amount of members right i mean over 30 million people come to las vegas every year and rent a car so there's a very large number of people that are renting cars that have no idea what tourer is you know but in general the rental car industry is is becoming oversaturated because of things like turo because of the price points right hertz and avis and myself we know what it takes to rent the car right the late your next door neighbor that has three cars on touro has no idea what it takes to rent a car she knows what her payment is and she knows how much she needs to make every month to make that payment and that's her goal is to make that payment maybe more to make her other car payment that she's not renting right and so that's why touro is a problem because of people not understanding the business model behind running cars right they're just looking to just kick the can down the road and this is exactly what happened with the auto loan bubble that everybody's talking about right now right it's like the mortgage crisis in 07.0809 right the only reason someone bought a car or bought a house was because they thought someone else would pay more like didn't matter what it was if they got approved they'd buy it and so because the car market was going up so fast everybody was like i'd buy a g-wagon because i'm not going to lose money right if it's 50 over sticker 100 over sticker they're not going to lose money because they think that the cars are going to keep appreciating in value because of the low production or there's an issue in you know getting chips and all these little things it's a lot of excuses you know i mean if you looked at ford's inventory i mean they had hundreds and hundreds and hundreds of thousands of cars sitting in parking lots right waiting for chips yeah while they're but does it matter what car it is like let's just say you're guaranteed to buy a ferrari a new ferrari at msrp a year from now would that be a good deal to take over let's say a lamborghini at msrp versus like a mclaren at msrp what are your thoughts a year from now you're definitely not going to buy a mclaren msrp because those the if you're buying one of msrp you're getting a bad deal so because they go under msrp very quickly yeah and even in this environment manufacturers like aston martin and mclaren still depreciate it so sucks to be them yeah um ferraris always are we're limited because they make less than 10 000 cars a year so ferraris did a really good job of always limiting their production for two reasons um a because they don't make um very uh widely used cars right they make a very niche car for a very niche person right so like their mid-engine v8 you know the current f8 model or the new 296 those are the most widely used cars but like their gtc for luso and you know the 812 they're very niche and so those cars always appreciate over time because ferrari actually sells out majority of their production line before they really release the car and so they do that because well they they want the orders so that they can get the customers and maybe the car isn't up to their standards or it's not kind of that good people are still committed to buy it and ferrari buyers are scared to not buy the next car because they're they're afraid that they won't get the car after that right so it's this kind of mantra that ferrari's got like their customers wrapped around their finger which is a good thing so if you're going to get a ferrari msrp yes it's great but that ferrari actually comes with a two-year like no sale clause so you sign a paper saying you're not going to sell this to anybody except the dealer who sold it to you for two years and if you do do that and you sell the car before that to someone else you'll never be able to buy a ferrari again because if you buy the ferrari and i'm the dealer right let's say you paid 300 the car's worth 400 i'm gonna give you 320. and i'm going to sell it for 400. right and so you make 20 000 bucks which is a minuscule amount of money in comparison to the value that you imported for the car so that particular brand's really unique sure but like lamborghini i mean they're making an suv that's doing a hundred thousand dollars over sticker you can just go and order one of those and they don't care if you sell it the next day right and so that's why the cars are so increasingly you know transacted right so they're doing a really good job of that but that's changing i mean just in the last two weeks i mean for instance i purchased an aston martin dbx which is the suv right and that car was around 240 000 new this car had 5 000 miles and it had um basically some just it like blew a tire and it like the the fender kind of got messed up a little bit right i purchased it for 125 000 and the value of the car when i bought it was 170 000. i fixed it and a dealer had offered me 165 000 and so i agreed to sell time wow within that two-week period of me fixing the car and getting all that done by the time i was able two weeks the car was worth 140 grand so yesterday i sold the car for 140 000. in two weeks it dropped literally over 15 of its value like that why is that because of the market going down exactly that's because you're bubble popped that's the problem the bubble once the bubble pops it's like people's mentality changes right so kind of like similar what's happening to real estate right now it's like how low can we get this right not how much money can we make on it it's like an opposite approach to like buying the car so that dealer in every dealer is lowballing me lowballing me lowballing me lowballing me saying you know one guy will offer 140. one guy will offer 145. one guy will offer 130. and someone's just going to see who bites right before it was let's get closest to the what i can sell the car so i can get the auxiliary items the financing and the tire protection and the dealers would make their money on the after sale products now they're back to trying to rip the cars from the customers because there's an over abundance of cars available so that's the the difference in the bubble yeah where do you think it's going to end up i mean that the end is is probably very close to becoming the start of the end is probably very close you know if if if it starts with one car like the g wagon for instance was doing 150 000 over sticker so now dealers are asking 50 000 over sticker these are for brand new ones if you have miles on them it's less right so it dropped 100 000 in a month and it's going to continue to drop because the demand like for me and for you if you knowingly are going to buy a car that is going to depreciate 50 000 you have to either a really want that car like it's your dream car for the rest of your life you're never gonna sell it or you have to be kind of like not that smart you know and so there isn't that many customers that fall in the middle of that yeah right or the people who just don't care like 50 grand for them is like a penny yeah but those people already bought the cars yeah they don't go out and buy 10 more g wagons like how many customers don't care and how many customers can you get to trade in the g wagon that they bought last year for the new one that they don't care about losing money for for the next one and the next one and the next one yeah the car is the same different color maybe so like those customers that have the six trillion dollars that was free for our economy they spent that money and now that money's gone right so they paid a million over for a house they paid a hundred thousand over for a car now they have all this stuff right what are they gonna do with it you know they if they want new stuff they're gonna sell it cheap right to go get the other cheap stuff or it's just a revolving circle yeah big problem is in your car rental companies when they when they went and bought everything for auction value they have to replace those cars you know so they're gonna they're gonna devalue the market the most right because they have you know some of these companies have a hundred thousand cars right so think about a hundred thousand of the same model cars going through auction that just start to drop the value right right and that's where like the biggest problem is and what does that mean for people like you who probably hold millions of dollars in supercars while like you mentioned the bubble just popped and you could have some debt on these cars how do you feel towards this whole thing and how is this affecting your business personally i've actually made some quite big adjustments right so i had a bunch of new allocations that were coming in like i got two lamborghini urus uh three months ago i didn't even rent them i got them and sold them right so it's affecting my business because i'm my inventory is normally at 30 to 35 cars now that are plus 200 000 right i mean my company holds about 70 cars in total but the ones that are really expensive it's 35 now i have 16. that's how it's affecting me because i'm i'm like running slim because i don't want to lose the money doesn't that also go hand in hand with demand aren't we seeing less demand right now so couldn't that even out like let's say you have 16 customers now 16 cars works out before you had 30 customers 30 cars for through the rental business the demand isn't really shifted i mean there's less people in vegas that are doing um more uh extra activities right so like we have a helicopter that does a you know strip tours and that business has slowed down slightly because i mean people are coming to vegas i don't think there's there's probably some metric out there that says vegas is the cheapest place in america to drink right it's like the cheapest alcohol the cheapest food you know because the casinos subsidize it right it's kind of like venezuelan gas you know how it's like a quarter a gallon right because they they subsidize it so vegas subsidizes her hotel rooms it subsidizes your food they subsidize your alcohol to get you to gamble right so now we're seeing this huge influx of people that are not leaving the casino they're just staying there to drink party and kind of like hang out at the pool right so the tourism numbers are are really kind of changing and their values are going up but the people who are coming in are not spending money right so that's why you know companies like um the venetian i don't know you're not really on the strip too often no but like the win has like 30 rolls race phantoms and in front of my office is like their way to get to the airport i used to see like 15 to 20 a day i haven't seen one in a week you know those people are not coming to vegas anymore so the demand is is slowing down for for like these wealthy crazy people right but the people who don't have a lot of money are coming and they're spending money on credit cards you know they're renting the slingshots that i have i see those everywhere yeah so like the demand shifted right so like the supercars like you're saying jack is it's it's different right but for the like the auto cycle product which is you know decent margins it's pretty good it's increased so like we just are like in the car market the bubble shifting the demand right now you're gonna see the demand go towards the like the low income for instance you have a guy that shouldn't be driving a bmw is now going to probably lose his bmw because his payment's 11. the average car payment's like 700 i saw that like just recently crossed yeah i'm just looking at my financial ability right and everybody around me like my sister right she makes like 75 000 a year her car payment is 400 and she's like not having a hard time but she's not having like this over abundance of savings to like live off of right imagine if her car being was 700 like for a mazda you know how could they survive right so all these people that have the above average car payments i mean if an average car is 700 what is an ice car 12 like jack can you have a 1200 car payment uh i mean like of course you can survive would that make sense jack probably has thought about that let's let's be real here jack has looked at tesla's and be like it's not that bad 1500 a month well tessa's were like 700. so tesla was my mom has a tesla lease and it's 719 a month for a model s 2020 right the base one that's what my mom drives you know but she contributes part of that car payment to her fuel right so like the excess fuel that she would spend you know maybe it's 50 a week that's 200 that she credits in her mind towards that car payment so her old car payment may have been 600 and she'll get a tesla with 800 she breaks even she gets a more reliable car yeah you know a better driving experience you know and and something along those lines right but now a tesla is 1500 the same car i mean it would scare me to have a 700 a month car payment i would hate that what about a 1500 one what about 2 000 jacks i would hate a little bit more [laughter] yeah i mean those are real numbers now those are normal numbers are people qualifying for this though because i know with mortgages it needs to be 33 of your income so what's the metric for cars funny story all right i know a guy who he makes two million dollars a year on salary he owns a he paid for a 700 000 house and um he paid cash for it he went to take out a mortgage on his property to cash out refi at 2.7 something percent back a couple months ago it took him four months okay he's an orthopedic surgeon four months to do a cash out refi he took 300 grand out okay the following month he has a few lamborghinis as well all paid for the bank offered him um a refinance on his car he got a 300 000 car loan on a car they did not even look at they did not even inspect they walked into the bank and in nine minutes they took the title and gave him a three hundred thousand dollar check but couldn't they see that this guy has a ton of assets he has plenty of in the house four months for the same amount of money right that's why the auto loan industry is terrible because they don't do any due diligence yeah they could literally write you the same exact you could take an asset that's worth a million dollars pull 300 grand on it right for a house and take you four months to go through the world of questions but walk in and get a car loan and take out 100 of the value of the car for 300 grand at the same interest rate or just slightly more in 10 minutes right so like that's the problem with the auto loan industry is they don't check right that's how it wasn't 07. they didn't check you just buy a house is that because of regulation that's because that's how the banking system is designed currently i think for auto loans uh when i was talking to lucky he said there's no oversight or there's no one uh you know company or one industry or one one you know entity to look over these loans to ensure that they're accurate they don't sell it's up to the banks to have that due diligence but a lot of them just will stamp it off sell it off yeah well they're not selling them to government entities yeah that's the problem right so like fannie mae freddie mac you know they're buying all these homes and they're buying all these mortgages and putting them on the stock market and stuff i don't know if they don't do the same thing when did you sell your excess 20 cars of your inventory over the past six months since i saw the market coming down when you were selling them and also when you were holding cars all through the appreciation of the car market were you when you eventually did sell them were you selling them for a profit and then what about when you recently sold this last you know 5 20. with the exception of the most recent aston martin that i just told you about like last week every car sold at a profit right that's why i sold them because i knew that i couldn't make as much money like i could make more money in that one hour selling the car to someone who was willing to pay for it than i could renting the car six months right so that's why i looked at i was like well why would i rent this for six months take a gamble you know on on this uh it's it's wild but are there gonna be any cars that hold their value because you still bought a car that was how much five million dollars i have a couple of multi-million dollar cars um i just bought a pagoda yeah you have a pagani i was gonna driver today but oh what did you drive today i i just drove uh okay so funny story tell me it's a volvo 2006. no it's [laughter] not a 2022 ford bronco okay yeah sure i was yesterday look it's uh you have a i can't i wouldn't i wish [laughter] what do you mean half the key well the other half's in the car because like it has a little thing no so i was gonna drive that today gosh look at that but uh the yesterday i i took off to go check on a restaurant of mine yeah in summerlin and i had to take some stuff there i had a light fixture right and so i needed to drop the light fixture off the electrician to install it so we have this like ford bronco that i i bought two of them for the rental fleet to like build them and make them all cool and crazy and uh i left my office keys in the in the office and then i didn't get back in time and my employees locked it so my office keys are in the office and our podcast happened to be before my office opened and so i had the key to my car in my pocket so they couldn't move it out for me so i took the bronco i would have loved to have seen that yeah okay i noticed first of all how much is a pagani so this car is worth uh just under like like around three three two three one it's it's worth what you played for three hundred thousand three million yeah oh oh yeah we're talking like that yeah so this guy this car if pagani was 300 grand i would have one yeah [laughter] all of them um the thing with the paganis is that there's only a hundred made right so i have a coup the going doors and uh there has only been four sold within the last few years so the value of a pagani is kind of undetermined at this point right there is one listed right now it's a bc which means it's like a race car version for 5 million so mine's on a bc mine's actually car number 50 out of 100 i got a cool number so um i think that my car's worth like what i paid for it and what it's worth i think i have like a million and a half equity okay hey sorry i don't want to interrupt but first we want to thank our sponsor wealthfront graham you wouldn't believe it man i found a two dollar bill on the street and i don't know what to do with it should i hang it up on a wall yeah no if you want to lose money to inflation you could do that or you could put it with our sponsor wealthfront wealthfront is a saving and investing app that can help you earn more on your money and start building wealth for your future if you're keeping your cash anywhere that isn't earning you a high interest rate you should really reconsider that's because the wealthfront cash account gives everyone a 1.4 apy interest rate which is 20 times what traditional banks pay and unlike other savings options you'll always have access to your money since they have unlimited free transfers no account fees and free access to over 19 000 atms wealthfront only takes a few minutes to sign up and you can start earning your 1.4 apy immediately and if you start now you'll get a free 50 bonus with a 500 deposit it's literally a free 50 bonus you guys should definitely check it out there are already nearly a half a million people using wealthfront to save more earn more and build long-term wealth so why wait earn 1.4 in your cash today by visiting wealthfront.com ich to get started that's wealthfront.com ich this no-brainer good news has been a paid endorsement from wealthfront so thank you thank you so much well front and back back to the podcast what about values for these cars are you worried about this car going down or like he's high-end the reason it's like my koenigsegg right you know those are that's like a four and a half million dollar car now you have a koenigsegg well i know you have a koenigsegg but you know it was four and a half million yeah both of them at the same time i have yeah i have a lot of those cars right now yeah because you're not renting you're not renting them out no why keep the money in those cars because it's better than houses a they're more liquid right and they they have no value there's no comps right so like my koenigsegg for instance is a aguero s so i have the only road legal aguera in the united states there's only one so there's eight aguera rs's which are like race cars that are very i don't want to say the word like uncomfortable because that's like a kind of a slap in the face for a koenigsegg but they're like very difficult to use my friend there's one here in town my friend has on aguero rs and i drove it around the block compared to mine and i'd probably almost pay more for mine because it's more usable than his right and i think he feels the same way too i'm not exactly sure i don't know but like that car is almost unusable and those cars are upwards of 10 million dollars so i have the only car that's rode legal right and um i feel like mine's worth like five like half of that because it's not as cool like as like fancy right but it's still the same car same engine but you pay less for these how are you able to pay less and come in with instant equity wouldn't the guy be for you to say i have the only one gotta pay me well i bought it a long time ago yeah you know before this this transition into like because think about like a few years ago there wasn't that many cars that cost this much money and now every new car right like the new koenigsegg the jesco it's like four million dollars like base price right so that pulls the value of mine way up you know so it's um it's just the way that it works right like the ferrari like the 458 italia right they used to be 140 000 and now they're like 240 000 because the base price of ferraris went up right so when the value of the car goes up like like your car was 140 000 new right and it's worth 400 000 today right so the new ford gt being one million dollars brings your car up and so the cars that i have the new ones are so much more expensive that it's more attractive to buy the older ones right and that's what happens you know so if the new ford broncos right like the next year the base price went up twenty thousand dollars it would bring the value of my previous year one up you know at least half so that's what's happening with the car world today is mercedes announced that they were going to drop all of their crappy cars right like their a-class their b-class are they really yeah they decided to like just not make those anymore and raise the price because a they don't want to sell to people who are faking it because they're complicated and they're they complain a lot they bring all their cars in for warranty work all the time because they can't afford it and when they get the cars back on lease the people that have those lower tier cars don't maintain them properly right because they like i said they can't afford it right and mercedes service is the same size terribly expensive yeah for e-class c-class whatever class you have they're all the same right you know the service the spark plugs they all use the same stuff so people in the lower tier cars aren't maintaining them they're trashing them and so the dealers are getting these cars back that they have to put you know 10 20 of the purchase price back into reconditioning and then try to resell them again and to another person to have the same revolving circle versus just selling one s-class instead of like 11 c classes you know they make the same amount of money right and so that's what's happening into the car world then the next like mercedes g wagons they raise the base price by 40 000 for 2022. let's talk about the chicken now yeah um how did this idea come to light how do you start this off well i'm kind of like one of those guys that that knows that the end is near you know all the time i mean what comes what goes up must come down and um you know i had such a great run with the car rental business uh i started in 2015 and uh by 2020 i was like kind of like it was surreal you know we were just it was just printing money it was so good um but then i mean in reality it just it's gonna change right and so i didn't want to be thinking about what i do next when the other one was over so i sat down and actually was it was about the time that uh the election was happening in late 2019 and i was like wow you know the world is gonna change the economy is gonna change you know we're gonna have a different party take over everything is gonna shift right so let's prepare for that now so my best friend edmund he he always like wanted to get me to invest in this other chicken company and i went out there and i tried it and i was like yeah it's cool i'm just i'm not like a big proponent of doing things with other people right because then the control factor is kind of unique right so i said i mean let's just do it on our own right everybody's got nashville hot chicken right why don't we make something else let's make like texas hot chicken we'll leverage my name houston we'll call texas hot chicken right and and we'll create a sweeter version that's more mass marketable because like nashville hot chicken is very it's very aggressive it's it's designed to like hurt your mouth it's very spicy like even in the mild and mediums and stuff like their flavor palette is very aggressive so it's got a lot of middle eastern spices in there like cumin and other different things that are not very well rounded for america and it was very popular in la but la has a very diverse community of people right so it worked really well it's funny in nashville hot chicken got very popular in los angeles yep i could see it yeah and i mean you lived in los angeles but if you go to la there's like probably 300 200 some crazy number of different businesses that sell nashville chicken so when edmond and i sat down we discussed it uh we created this recipe that was a little bit better than nashville because it was like i said more you know uh even kill and i think that that's the reason why we became so popular so fast is because we we made a product that was like sweet you know it's spicy you can get really spicy ones i mean you guys have all had it here on the podcast i mean it could work incredibly yeah yeah i mean that's not designed to be edible it's designed to be like almost like a gimmick right you know anybody that eats houston's we have a problem is just i've never even i couldn't even touch it right i've only had a mild i've never even had a medium sandwich at my restaurant really you should i just we should have brought one and just had to eat it yeah well i just have like this ulcer and like might be all just like puke blood and hence the iv business i'm just trying to get healthy you know i'm like super fat now you know so started this chicken business i was like 170 pounds in 2019 yeah now i'm 203. okay like that's a lot of weight right but it tells you how good my food is right so i keep eating it right which is wonderful but uh yeah i i gotta go i told all my employees don't serve me anything but a salad no matter what i order yeah okay just if i order a really crazy sandwich bring me a salad yeah houston is a great setup too i went to his house the other day or i guess it was a few weeks ago he's a private chef yeah cooking like making pokey like fresh what a fresh poke bowl yeah i walked in he's like do you want pokemon like what he's like no they're making it right now like literally yes and it was amazing how much does a private chef cost uh less than it costs to go out to eat every night so for a family of four there yeah that's when i give him five grand a month um covers all my stuff guys let's just uh let's just split it let's just go three ways let's go five i bet we could if we all went in the same amount between four people that would be you know with macy twelve hundred twelve hundred and fifty calcium two yeah that would be about a thousand a month it's 30 dollars a day that's not bad that's not bad because nobody uh in my household likes cooking so yeah well what's good about the the chef is that they um so he makes i don't eat uh i don't eat anything comes out of a microwave i never have i figured like that's where cancer was invented you know cancer and microwave came out at the same time so i've always thought that in my life it's probably wrong but it doesn't matter so anyways um i don't reheat any food so he i eat my lunch uh out with my my team in my office or whatever but when he comes over and cooks he actually makes enough food for my kids and my wife for the next day so like they get their lunches and if they want breakfast like he puts a whole menu together for him so my kids are homeschooled so they their teacher comes over and she reheats the food and like the stove and everything it has the whole kitchen for yeah and so that 5000 doesn't just include dinners it's pretty much all the meals that we eat as a family so yeah it's pretty dope yeah side uh tangent here is there a reason you chose homeschooling versus like a public school or a private school uh yeah why because they're like not safe so it's a safety thing yeah i mean also like mentally and physically both are not safe you know you can't control like your kids are taught what the teachers know right so like if i wanted my kids to be taught by somebody i would want them to be taught by someone who i look up to or i trust that is giving them the right kind of knowledge i mean i think that the next generation like my kids are three and six and there's just no reason that [snorts] like the the teachers that are in i'm trying to be not rude right now so i'm just gonna get through right yeah okay the tickets that are currently teaching their skill set and their knowledge is based on the past and our our world is changing so fast they don't have time to adapt right so like let's just say for instance on youtube right right now if you want to get into a business right you're going to learn from people like ryan you alex or mozzie these these like business influencers who've had a very long track record of being successful right so if i want my kids to learn something you know now basic skills like reading and writing is simple stuff okay i'm not concerned about that but like the the basic rules and principles and morals that they're going to live by i want them to learn that from someone who i look up to or i trust right and so i hired a very specific teacher to teach them those things you know and plus school kind of gears kids towards working nine to five right i mean you go to school from x amount of time to x amount of time and you have homework and like there's just so much structure there and in the future 20 years from now when they're going to be on their own i don't think that that structure is going to exist anymore what about the social aspect of them getting to hang out with other kids and you know trying to figure out where they fit in and networking and all those those skills that are kind of learned at a younger age everybody says that yeah and then i ask them like like when have you ever seen kids playing anymore they're all on their phones none of them go out after school like when we were kids we used to go on the front of the house and just skateboard and hang out and ride bikes yeah you can go into any neighborhood and you'll never see that now right there is no social aspect at school it's actually anti-social like all the kids are getting bullied online while they're at school you know and it's like this whole new like front you know and that's like the worst part about school is being around other kids you know because everybody has their own demons now and now that there's so much information like even there's there's an actual number there's a real statistic for suicide among girls under 14. like if you would have asked me that if that was even possible i would have said no way but now there's a real number for that because of like of peer pressure and of all this like crazy science stuff that they're they're going through you know in the in their hormones and all this stuff and during that age right i don't want them around those types of people because the other parents may be neglecting their children at that time and those kids are taking it out on my you know children you know like i don't know if my kids are are hanging out with the right people when they're at school i don't know what they're doing you know what about when they're like 20 and they're going off on their own do you think that maybe they might not be as prepared as someone else who's had those experiences i don't i don't know because we don't know what the future holds but like my kids go to gymnastics right i mean i have uh four or five employees that all have kids about the same age and every week you know they do a play date like you see my house i have a playground and there's a kid's environment there right so they have their friends over two three days a week they play there's a couple cousins that we have you know that are all the same age so they're getting a lot of time with other kids but just not a massive amount of kids right they're getting a lot of time with specific kids that i think are all being raised in the right the right setting sure you know so i don't know i'm really specific with that stuff like yeah i feel like the 15 years that i was in school or whatever that is 14 years was the worst part of my life and all the bad decisions came from people that i knew whether i was trying to be cool like them or i was trying to lead them or whatever it was all those choices were all from that environment right and when i started to be on my own when i when i turned 18 and i moved out and i did all this stuff my life started to just go straight up and i was very focused and i was independent and i choose i chose my own friends right and i had two or three not 30 right so it was a really different i don't know i'm just like maybe i'm really weird you know it's a tough conversation it's easy for me to say without kids sight danger back to back to chicken now um i know yeah you got it you got to say yeah this is we okay we got an exciting new opportunity here uh i'm actually really looking forward to this so you held a car meet at a grand opening of a restaurant which i do all the time i love them at houston's hot chicken and i show up there and we go in and the food was so unbelievably good and the staff was so incredibly friendly and then you came up and thanked us all for coming and and i think i jokingly said oh i want to see the back or like because you guys were so busy back there yeah and you gave me and macy the tour of the back and it was like this it looked like a you know the uh the really high-end lab from breaking bad at the very end like it kind of looked like that with like all the the stuff no but [laughter] seriously like i don't know no wonder that chicken is so addictive but yeah but it looked it reminded me of just like just how pristine everything was and like how nice they kept it and i jokingly said like oh man i want one of these or like i and you said yes and so for the last few weeks we've been working on some of the some of the contract details but i think we're pretty close on signing to get can i say the location sure sahara and jones here in las vegas uh and that would be the building and so and it has a drive-through which i'm really excited are you using the drive-through we're not using the drive-through anymore because i've changed i've i've oh i was sick i was looking forward to driving all right i'm just learning about this is such a bad idea and i've been saying this for a long time because no one sees the end result of the drive-through okay with the drive-through you cannot serve alcohol right with a drive-through you have to have six extra staff members and with the drive-through people drive around the building and don't get the full experience right so they're not seeing the inside that you saw they're not feeling the inside right and they actually order less per ticket than if they go inside and so the drive-thru increases your revenue but decreases your profit and so i had this argument with my business partner edmund and we agreed to try it and so i finally got it through everybody's head that the drive-through is a bad idea because alcohol pairs so well with our food and it's got the biggest profit margin on anything we sell in the restaurant so if you want to make money and you want to differentiate differentiate yourself from chick-fil-a the the my biggest pet peeve is someone comparing my restaurant to chick-fil-a right we're not even close i mean that's like literally comparing your volvo to my pagani [laughter] which i tried to do yeah it's offensive you know i don't get offended easily but we both have leather seats which is kind of cool [laughter] but we both have windows yeah yeah but it's it's the drive-through is such a bad idea because we're not building a brand to be considered cheap right we're building a luxury chicken brand right that's what we want to be that's what you want to be because in the luxury space right the sky's the limit you know you're bringing in someone that's like ready to spend 30 40 for their meal get a drink a beer a 20-ounce draft beer right we have draft beer uh craft regular modelo you know we have our own beer now at hc called after burner and it's it's like designed to be that place where you want to hang out you know like the above it it like i think we're going to replace the restaurants like applebee's okay right applebee's outback chili's those restaurants to me are dying right margins are too low the buildings are too big and these fine casual chipotle-esque restaurants are going to replace those big box waiter you know sit down tables because that experience is not they're not able to compete right when i can serve a chicken sandwich that is miles ahead of that food right i mean chipotle sorry not chipotle uh chilies and apple bees are serving frozen food everything's frozen nothing's fresh right and they have huge staff numbers that cost a lot of money and so like that genre is going to get replaced and i want to be the one that replaces them and so that type of food isn't fast food right but it isn't like fleming's or high-end food like catch or something that you go into like a full crazy you know 100 meal for right and so when we put alcohol there we make way more money how do you have your employees so friendly and happy all the time because i pay them well can you share some of those numbers or like how you look basically there's 25 the average restaurant is 25 people right everybody gets a tip share so the average restaurant brings in 22 to 28 000 a month in tips so between 25 people they all split that so everybody's getting like a thousand dollar bonus at the end of the month and um we're hiring based on experience so you know people make 13 an hour people make 15 an hour no one makes minimum wage i mean our lowest paid employee is 13 which is five dollars above minimum wage here in vegas um but it's the culture right like when you walk into royalty and you really haven't mental royalty too often but when you walk in there like it's the vibe people love that that's why i'm so picky about people going inside the restaurant because that's what you're missing no one expects that kind of environment when they walk in like you're asking about people that are friendly from four months ago that you remember yeah you remember the people that served you four months ago that should be like right there to tell you that the experience of going in is worth every every minute that it takes for you to get out of your car and go order inside right you know that's the goal for the restaurant is for people to feel like to always exceed expectations right so that's our company culture you know i mean there's all these business guys that ask you what your values and your principles are and houston's hot chicken is the principle is to exceed your expectations but it's the culture among the employees and it's that experience that customers get when they walk in but how do you pick that and how do you ensure that they that they keep up to that standard the easiest way to continue your culture is to make sure your leadership has that culture right because people follow the leader okay like if the leader has a bad attitude and he's over there yelling at everybody your culture just dies immediately right but if you have this guy that's always so happy it's contagious right and if you see the manager of the restaurant going out and cleaning the tables and taking care of the customers and you know remembering people's names right we have people that houston's on chicken three times a week you've gotta remember their order you gotta remember their names you gotta you gotta really treat them like they're special right and so if you if you have that from the top it just just trickles all the way down another thing that uh you were mentioning you want to talk to alex hormozy yeah i just up with this i i've been i watched actually alex uh for about uh maybe a year now and um i just i think that alex and i have a lot of things in common and i think alex and i have a lot of things that we don't agree on and i've i know alex lives in vegas and i think it'd be cool to do honestly i just i feel like your podcast needs drama you know i mean your best video like was jack in his dating life right people love that jack yeah come on for the algorithm we want to bring back another tinder date and just but you got to think of the algorithm i do not like it man i really don't like you don't like it what if anything dating like anything [laughter] like that like airing it all out online i've just not been a fan of the highest population we get the highest because everybody wants to know the drama yeah but the thing is there's external like things that occur outside of whatever happens in the podcast it's embarrassing yeah but then i leave the podcast room and i go back home and then i get a few dms or whatever i get a few texts from my family that's watching it and it's like oh my god what do they say give us some examples it's just weird man my grandma watches every episode [laughter] so i don't know what's wrong with that you grant me let's say let's say there's like a girl i went on one date with right and then i talk about an experience that i had with some other girl that i went on a date with then it's like well what is this one girl that i went on a date with think now that she's seen me talk about a date that i had with this other she's jealous that's not good in the past i don't get it if you went on a date a year ago i'm not talking about dates a year ago man eventually it'll be let's say yeah eventually a year ago so we'll just start talking about dates that are so like if we're still saying jack you have to postpone your love life for one [laughter] year basically but what's the downside if we have one tinder date on now i just think what happens first of all i think people are going to get sick of it second of all i don't think so second [laughter] of all there's some weird like stuff that happens like i said outside the podcast the thing is we finished wrapping up the episode you go home and you go you know kiss macy or whatever you guys do in a secret [laughter] okay alex does the same with his wife or his fiancee wife kelsey right and then i go and then i have like all these random awkward situations that happen outside of this because i tied myself just maybe they would want to be like i feel like some girls are such attention grabbers that they would want to go on dates with you just so they can end up on the podcast that sounds terrible i don't want that like jack here's the thing man i think what jack's worried about is that we're going to film an episode and sometimes we post like um a month later sure so maybe in that month he starts seeing someone new that's not what happened at all but what's the problem what i'm worried about so when we did that thing where i went on a date with those four girls right let's say that there were let's say two three girls i was casually talking to right maybe we hadn't even gone on a date yet right but i met him on some tinder thing or whatever or maybe i'd gone on one date with him we just went out and got lunch or dinner or whatever right and then they see this video where i blind date four girls on the sta family graham stefan aft sorry graham's definitely after hours i do that right um then what right they see i don't see that you're casually like you were saying like maybe just talking to online on tinder and if they see the video but you haven't even met okay well i think we have to define dating dating is literally just going on a date with someone yeah you have no obligation to that person whatsoever but the thing is that's not necessarily stuff that you want them to be privy of you don't want to air all that stuff out but how do they even notice they know who i am oh they do oh so but you don't want them to be on the podcast i'd say it's pretty hard at this point not to define me at least somewhat by my work [snorts] right it's like if i talk to someone this is going to come up inevitable so they're going to look it one more time i don't see the issue jack yeah because you know you're already you have a fiance all right just just go like this for a second dude me just go like this for a second yeah you should just bring a blind date on the podcast and not tell them i've been thinking that you should you should really do that that'd be so funny be like hey who's our podcast guys it's your new blind date all right you know [laughter] all right jack you're good cool that wasn't even that bad all right i just didn't yeah okay yeah i agree surprise [laughter] all right so yeah alex uh you know he's so he's so uh he's very just like me very specific in his his views right and i think that that'd be a cool conversation to have i don't know i just think that there should be some drama on this podcast you know besides jack's love life right you should just get a couple of guys on here that just don't have the same opinions on some stuff and just have them debate it out you know i love that i think it's a great idea i was on ryan's podcast and we were talking about the real estate market a little bit and like i don't see how it's sustainable that someone bought a house in 2020 for 700 grand and posted it in 2022 for sale for 2.7 million you know and he said there's not there's no crash coming and i'm like well i don't really see how that's sustainable so you know we had like a little mild argument about that and he gave his opinion and everything and and i even actually went back and watched it myself you know i was interested to like hear his side of the story without me having to think of my rebuttal in that side of the story you know so um i think the debates between these big entrepreneurs i mean there's so many people online now that tell you how to get rich and how to be successful and a very small amount of them have an actual track record of running businesses outside of the business of telling people how to get rich right you know so like i think instagram and all these places is oversaturated with with the gurus right that have never done anything with their life other than be a guru you know and so i think alex is the first guy that's like had a long track record of business and he's doing it for the right reasons you know he's putting all that content that is uh very very important i mean his wife is incredibly intelligent which is super cool you know and so i don't know i just think that'd be a good a good thing i mean what do you think i really want to do that i love the idea i think we should definitely host a debate yeah yeah that'll be the first ever iced coffee hour debate but yeah i just think that'd be a really cool like update or upgrade to the ice coffee hour yeah you know i mean i agree how many people how many more people do you plan i mean how many more people can you put on here i mean you've literally interviewed everybody no mark cuban i mean i feel like we've we've hit maybe ten percent of the potential yeah yeah but you guys are like you're hitting a lot of the youtube guys right so if you want to branch out into the real business world and yeah you get like gary vernichuck and you know the big big guys right i think those do excellent you know um but that's that's a different level right that's like a different stage of the podcast you know that's when you don't do the youtube guys anymore you know because those are the that's the bottom tier right and though they're the next tier but as far as like youtube guys i mean i've watched almost every podcast you know and um i guess i'm just trying to i i'm trying to figure out who i'm missing you know but there's a lot of people that are new and upcoming yeah you know um i think you should actually interview some like local like celebrity type people too maybe like um we really want to do dan bulzarian yeah he would never come on here no he's terrible i i dan's here i mean he's just maybe i mean dan's about to be on dancing with the stars kind of lifestyle you know like i feel like he's a fall from grace at this point you know what i mean he's like really falling off but that's just basically because he doesn't care you know just watch you watch as the pod be like i'll debate houston oh yeah [laughter] i actually lived in dan balzerian's ex ex-house so he lived in this house and i moved into it and it all like the guy that had bought it i rented it for like eight months because i wasn't in transition and um i don't know it just felt weird did you see anything in that house that like screamed dan it was all the same stuff he left it furnished it was his i had to replace the beds right for the eight months i lived there i bought any beds but all of his furniture's still there all of his stuff is still there every single thing was it like fancy stuff no i mean i was renting it so it was the owners the owner probably just took the furniture or made like a buy out i don't know i think like shin lim the magician totally he's cool yeah you know like he would be a great person because he's like i agree just a cool come-up story yeah i mean there's a lot of guys like that in vegas that have like a cool kind of story i mean andre um he's he's kind of like that right i mean like las vegas local was like some fame and everything yeah and he did some cool stuff i don't know yeah we've had andre on what three times twice twice under school i like andre yeah i met andre like i think five or six years ago no way when he first started yeah wow we had a mutual friend it was like his roommate at the time okay um he was one of my employees and andre moved in with them they started living together and um he'd come around and show me all those card tricks and i was like i just cannot believe how skilled someone can be at something so specific like playing cards yeah like i went and saw shan lim um with my kids and i mean i just it's like you're watching a movie yeah it's crazy like it's i couldn't believe andre was doing some tricks for jack and i the other week and uh the same tricks like six times couldn't figure out yeah so he'd do a trick where basically uh he'd fan out cards and have us pick a card and we would look at it and we put it back in the deck he'd shuffle the deck and then he would pull that card out of his pocket his pocket and we're like how did you do that he said i'll do it again for you and he did it multiple times and i'm sitting there looking at his pocket the entire time and he does the same trick and he keeps pulling it on like he he's not even close hold on can you pull out of his mouth one time oh yeah he was like doing all this stuff with his hand and then he's all and he just points up and then we look up and there's a card in his mouth and it's the card that we picked yeah yeah but he was calling that misdirection because we were so focused on the pocket now that he put it in his mouth and they were focused on his mouth and the pocket and he pulled it out of like somewhere else it was insane i'm convinced that people that do that stuff can stop time it's got to be something they have to be there and they take the card they look at it they put it back in your hand and they put the card in their pocket and then they renew time like it's got to be something like that it doesn't make any sense no like there's a there's an insane this guy shouldn't limb you should see this guy yeah i mean he's like he had us go in the audience have you seen the show no he had he had a trick where the audience all had cards and basically you have to like rip them up in different ways and then you throw them away like whatever ones you you have and then every single person in the audience got the same card like put back together yeah i saw the show like that's an absolutely incredible show it has increased 100 people in the audience and they all got the same damn card it's like crazy wow my kids three years old six years old did the same thing and they got the same card like i was just i just couldn't believe it you know i just blew my mind i want to know how they're done that's what i'm so curious about i just how do you do it there isn't there like a show that does magic exposed like there's a youtube channel that shows you all of the things that have like magic exposed yeah but a lot of these are custom tricks that they work on individually i think so yeah like david copperfield is so wealthy you know i heard david copperfield's like a billionaire and he's the one that designs all the tricks and he like sells them to other people i'm sure i mean think about that that's like it's got to be an insane business yeah you know so niche i think with the show that you guys are talking about they can show like all the the gimmicks like all the like all the stuff that doesn't take like much skill uh but nobody wants to watch a tv show where you're talking about sleight of hand for like 30 minutes like this is how you do this you know by misdirecting here so it's like it doesn't really reveal some of those tricks that you guys yeah it's like the cut in half or like the disappearance yeah those big ones right yeah the slight of hand stuff might probably not that easy so yeah would that be a good that'd be a good person to put on here i would love that yeah he's he's our age yeah he was in his 30s yeah right so that'd be cool i don't know who else are you thinking uh oh gosh uh we've had a list if we want to get some some tick tock people yeah we feel like that's the next step uh because we've covered a lot of youtube we want to get i actually learned a new audience like i was pretty surprised how instagram and like how snapchat pays the most yeah i would i had no idea so we're starting on snapchat now yeah yeah me too like literally like i i watch that video and i text my my phone guy and i was like start a snapchat right now yeah you know uh i hope maybe that's a bad thing maybe it's not going to pay as well because there's so many people going to go on it now the thing is we're going down we're using um uh what do you want to call companies or like we're using um agencies who do this for us because there's a strategy to snapchat and facebook uh and even tick tock that it's hard to replicate like i know youtube really well sure but what i'm doing in youtube would not be applicable for facebook and it's like relearning a new album this book is a machine too i it blows my mind i have a video that i put on um youtube it only got like 500 some thousand views got like three million views on facebook in two weeks wow and i'm just like what is this place like how i don't understand maybe i should stop making youtube videos like yeah and going back and forth trying to figure it out like who i have a different editor for facebook so all of my youtube videos have different cuts than you know facebook so we re-cut them all so they're like maybe the same person watches it i don't know just like an extended cut kind of thing and facebook always makes like three to one more money than youtube maybe even more actually do you guys post these on facebook uh not yet but we're planning to yeah well the thing is what's great about it is facebook's an older audience yeah right instagram and all the other ones are very young and so like youtube is kind of a younger audience as well i mean youtube's a very broad audience realistically but like 20 year olds aren't on facebook it's all like the 30 40 50 year olds yeah the downside i will say facebook is that it's a big international audience so that means when you're targeting with ads the ads generally pay lower but there's a bigger audience to reach to yeah well i think yeah definitely running in play ads you know not like just the facebook generated ads yeah the ones that are you know we're getting sponsored money and stuff for that those don't have the same um [snorts] outreach obviously unless you're selling a product that can be shipped somewhere i mean all the ads that you do are pretty much all us-based yeah but can you like sign up with the stock things overseas or no no no no even canada right now it's just us-based is it okay yeah some of those things are pretty sweet yeah all that stuff that they come up with so guys if you guys don't know we actually have a patreon if you guys want to sign down below um there's different tiers some of the perks you get to ask our guests some questions or submit you know a chance for it to ask them some questions in our highest here um we're actually throwing some private events about two times a year so if you guys want to come hang out with us check out the patreon and while you're um on the patreon just go back to youtube go to the description and then follow me on instagram my link is down below and so yeah you know so now we're gonna ask some patreon questions from some of our members no patreon questions oh really now we're not going to ask some patreon questions from some of our members it was last night at 8pm i'm not you didn't ask earlier what did that's great no [laughter] jack andrew you better leave this do you want to do it yeah good job always all right no no no here's the drama i have no login to patreon i have no idea i will gladly give you the login i can't do it that's the thing it's like you can't either i can't you have all the employees jack what you have all the employees we have the same amount and i'm a contractor so first of all graham likes to take on new things right which is great entrepreneurial mindset right that's what you do but the thing is as soon as he takes on any new thing especially with regard to the iced coffee hour it basically defaults that the responsibility is put on me so he came up with the idea of creating a patreon and i said i love the idea of the patreon but i already told him i remember that one of the first things i said as soon as we start the patreon i know that the responsibility is going to be put on me and i think that this is something that we should discuss right and i was like oh no i'll be fine i'll be fine and of course the patreon happens graham has not logged into the patreon once he hasn't gone back to anybody on the patreon at all i get back to every single message we've gotten on the patreon i'm posting every single podcast early on the patreon i'm asking questions for them to ask to our guests on the every patreon thing and then one time i post it late at 8 30 p.m the night before right and this is 12 they have they had 12 hours to ask questions to you and sure maybe i could have posted it earlier but graham didn't even think about it once didn't think about texting the thing [laughter] he didn't think about texting me hey jack post on the patreon he doesn't remind me for any of this stuff basically the responsibility automatically gets shifted over to me and graham sits on the side okay i'll gladly take care of this for a few years no our agreement jack jack was gonna handle everything in the back end including editing there was sponsors scripting everything back and jack was gonna handle i was going to handle the title thumbnail being physically here and coordinating guests and so to me everything else in the back end is the responsibility of jack right but the backhand has been handled by me and and then we add on the patreon which was a thing that was outside but it was outside of the scope with that stuff that we initially agree with but the thing is patreon how much how much money have you earned from the patreon okay i'm just sharing yeah it's like i mean we started like three weeks ago and we have like fifteen to sixteen hundred dollars why because the back end but this was outside of the scope but it's also outside of the scope of the income too and it's true i know but we never okay so if you're seeing this as one independent product project we never talked about the terms and the workload of this independent project it just defaulted to my thing i just i feel like because you're getting paid for it right that it's an additional income and it's an additional work right if it was free and you guys had patreon and it was another thing that wasn't an income right then i would agree that maybe graham should take a roll because he's doing the a very small amount right and you're doing a very large amount but because there's an income added to it right that is using the likeness of the iced coffee hour and everything like that it falls in line with the back end only because there's an income that's my opinion i think houston worded that perfectly couldn't have said it better myself yeah i think that's a that is a very strong argument but at the same time like i said we agreed on some set like some set responsibilities okay this is good but those responsibilities were designed on the incomability of this iced coffee hour it weren't they weren't designed on the new additional income from the future projects that the iced coffee hour brings so like that's also an assumption well it's an assumption that it's gonna make money yes but if in three weeks you've made sixteen hundred dollars and you've split that appropriately right then the the same rules apply you know because it's an auxiliary option to the iced coffee hour but then you have to think about this like to the nth degree right imagine graham starts adding on all these other responsibilities all these other verticals that somehow correlate back to the iced coffee hour right i mean still your income would scale in proportion to that yeah i know what you would do with that let's say there was like an enormous amount of responsibilities that the two of you agreed that you would need a third person right and that would cover a salary and then that would come off the top of all of the items combined right so let's say the iced coffee are made ten thousand dollars a month right and you need to pay someone a thousand to help you out with all these things and so to limit some of your responsibilities limit some of your responsibilities and you both agreed to take it off the top and then you would split after that would make sense so there's going to become a time where patreon turns into like 10 other things right right now if it's at the maximum capability of your workload then i think that you you agree you stay with this and then this is what you tell graham like hey look this is this is it i can't add any more responsibilities than these particular items so if we add one more thing we need to bring on someone else so i think with regards to the patreon and anything else that we add onto the podcast realistically something graeme and i've been talking about for a while now is that we need a producer of the podcast agreed basically that handles all this stuff so we let the host be the host and then we let someone else basically be managing the back end and having it flush the thing is i'm good at it right i'm finding it i've been doing it for a very long time but i know that out there there's someone that's better and there's someone that's going to be more diligent more structured that's what cost right i mean how could what would you pay your producers so we've talked about it yet so we've talked about this salary but what do you think the salary would be should we go on record to say it we just said i'm on record i'm on record as telling jack i don't think we need a producer maybe not yet but i mean let's just say you did hire a producer would you pay them 5 dollars a month i mean at what how much are you willing to to pay them for for that i don't think yeah i don't think that's a lot of money any i don't think it makes any sense to have a producer but you did you told me literally like a month and a half ago that you wanted it no that was from one of your existing contractors who could take on some additional work to help us out yeah to step into the position of producer and then you were all but there's no but there's not like dedicated producers you also mentioned someone that has never worked in the business whatsoever before and they just at this time did not have a job and you're like oh we could move them into the position of producer we could try them out for a few months you said that to me at the gym i remember it was a month and a half ago because we're not working because they were willing to work at a price that like if you get a good deal exactly of course and then it's like well then it just makes sense you'll find something for them to do but to go out of our way to find a podcast producer so like that's what i'm asking right so like if you took your contractor that was making let's say 500 right now for their work and said hey can you take on this amount of responsibilities that's going to take we'll give them 500 more but that 500 you can turn into 5 000 or 15 000 or some excess amount of money you can flip that money and their responsibilities will return you 10 15 20 x that makes sense but like to hire a producer to run the show and pay them a normal salary that i would consider maybe five eight thousand dollars between that area that they could run the show because of the size of the show i mean you don't have a small view count right you have a lot of views and so you know that producer would then respond to you know the the questions the comments it would take on your role essentially right and you would become more of like a gram roll you know so that would that would be the only way i see this you know transition what roi do you see it worth it like obviously spending let's just say 50 grand to make 50 grand that's that's not good no no no no no you need 10. in my my book like i don't start a new project unless i'm getting 10x right like i was offered to invest in so many things in the past couple of months and you know at 10 return at 20 return it's just it's not worth the risk right so for you to take on that responsibility hiring someone is more risky than an investment right because you're taking on their livelihood unless it's a contractor and it's a very small amount of money and they understand that but like when you're talking about taking on someone full time this becomes their job they have to pay their rent they have to pay their stuff and you're responsible for their bills their lifestyle right so you have to commit to them as well as they have to commit to you so you have to see at least 10x from that position you know like if they're paying them five you've got to return 50. so they've got to be getting you extra sponsors right they've got to be reaching out to to i don't know someone that is going to bring in more money right so i hired a producer for my youtube and and you know digital business right and they signed um a deal with a company that brought me 200 000 in ads right over a course of time so i paid that person you know 25 000 right like a 12 commission for that right because i got this long-term contract so that was worth it right i mean would you give me 12 grand if i gave you back 200. absolutely yeah right so like i think the same thing has to follow like with the patreon right now it's only bringing you sixteen hundred or two thousand dollars right so that responsibility is probably gonna have to lie on you but if it starts to bring in 10 12 15 20 000 then you can afford to say look this is anxiety income we didn't expect this right we should use this money together to add someone to help us oversee this business and grow it you know that's my opinion i think 10x return is totally feasible i agree i think for yeah yeah i think it's absolutely fine i don't i don't see it well i think is that since i've been here for three months ago or two months ago right you've you've increased the the the podcast has gained 30 percent more income but that's i don't know what a producer would would give for us that we can't already do with what we're already doing but we aren't doing it what are we doing okay first of all for a thing uh mid weeks every single week sometimes we just don't have anything to talk about that's that's nothing a producer would would well the producer needs to tell you that's what i'm saying that's particularly funny right i mean they have to reach out to guys like myself or alex or whoever's going to come on this show and say look we need to schedule wednesday and saturday or wednesday and sunday that producer needs to fill this seat every week twice a week that's their job right they need to break down the content they need to say look houston you're going to talk about these topics today right and be prepared for these topics because this is what we want to talk about you know and for me just to come on here and talk i mean we're friends so you know we have mutual respect we have a lot in common we can make that conversation but when it's someone you've never met before somebody's first time i would say have have andrew do it i don't want okay so also also another thing is you have to consider the workload that some of your contractors or for some other people employees are bearing right of course just to automatically add more workload in i think is is dangerous i think i don't want it to burn out my i think be a great test it tests the proof of concept and if they like it it's a step up if they don't then or if it doesn't work or if we're not seeing the roi then we lose nothing and they get the benefit of trying it out sometimes you have to burn the burn the wick at both ends to see what works i agree if we take on yeah you in my opinion you know when you have contractors right i mean obviously if that contractor has 10 other clients right you have to know that right you you can't take a contractor that's already an 80 hour workload and be like hey here's 20 more right they're just they're not going to perform for you right they're not going to perform for the other people and then they're going to get stressed and their work's going to just be worthless so you definitely want to get someone who can commit to you and say look i'm going to give you go to your contractor andrew and say look andrew i'm going to give you three months okay i'm going to pay you this much money and i want this result if you can contribute to that then we can bring you one full time and you don't have to worry about the other clients that you have we can afford to pay you this much and you'd be solely you know working for us or you know a balance of 50 of your income will come from us right so that should be for you guys in my personal opinion is twice a week consistency is what's going to pay you right consistency is what's going to get you those ads those better views it's better everything right and you need diversity right i mean iced coffee are amazing you've got diversity right now i mean you've got some really cool people on here but like i said i mean you need some people that are going to bring the view ratio i mean i guarantee if you look at this particular portion of the podcast and watch the view count or you know watch the the duration it's going to spike oh people always love our it's [clears throat] great i mean we're talking with emotion right now and we're talking about something interesting but we're also solving a problem you know so if you can get that producer to do some research on let's say some person get some background right find someone with some drama like what happened with this i remember there was a guy on here that had like a bunch of drama um at one time and you were a lot of people were commenting negative yeah tech lead yeah yeah i don't really know i didn't i didn't really understand that because i don't know what happened before but i watched it yeah i thought it was like interesting but like that producer needs to know what's happening in that person's life what they're into interview them first talk about their stuff and bring you that content so you guys can utilize that here and not just hope for the best that's great returns data yeah also because if we do too much research on our own end then it makes the entire conversation planned exactly right so i agree a producer would be great for that role and also it's the structure it's like i think that there are a few things that i i like to think i'm at least uniquely good at i have a competitive advantage in right and i think structure is like the exact opposite of what i have a competitive advantage in and that's what a producer needs and i think that's why i really don't think that i would be good at structuring out these guests giving out time slots posting on patreon at a certain time i think you know i don't have great i know but i think it's a 15 hour a week job that's what i think i in terms of outreach and all of this you have so much the contract that we would pass this on to does great work do amazing work and i don't want to just throw you know throw them into a spiral because i right well of course i would i would present the opportunity to them but you got to commit to him i mean if you're going to have him do this you got to give him three months and say you're guaranteed now after month one if he sucks you've got to deal with him for month two and then after month two if he sucks you gotta give him that third month it's gonna take someone some time to get used to their role right they might have the skill set and not know how to utilize it yet they might you know have a bad first two three weeks and get discouraged but then guarantee you guys guaranteeing them three months to give them the idea to figure it out is going to help him come into that role yeah i like a three-month test i think within three months by the end of it we should see whether or not it's working i agree yeah yeah i think this is a this is a really cool thing you've got going on and i would love to see this expanded right i mean just for my own personal entertainment right these are 90 one hour and two hour videos that are very engaging right and and you have the potential to take this to a very very high level right that no one really has i mean graham graham's celebrity in this industry is is worth watching just to hear his opinion right because obviously does so much research so if you can get that same back end for for the other side of this i think it'd be great i'm open to it part of it is difficult for me because i really take a lot of pride in keeping things small and like the team is right here yeah and so that is what i think has kept us like really grounded and connected with each other you know i mean this is his business yes so you have so many other things going on yeah you have so much other income from other places it's unfair to to both these guys right because their income's coming from here right and so it's you need to obviously build it for them as well i mean he's putting in more work physically than you are right and you're getting the same benefit if not more you know whatever it is right so at the end of the day i think um being small is cool because you have all those things but you know jack has a miata so like [laughter] and alexis i told him by a lotus elise but uh didn't listen yeah [laughter] so yeah yeah i think that's good man i'm happy thank you for your insights really good insight yeah yeah so if uh if you guys ever need anybody to uh mediate you know i like this thank you man yeah i got a couple random finance questions for you let's do it okay so if you were to get a pie of all of your assets how would like the slices be arranged all right um so i have uh 60 in cars because i know that business the best i have 20 percent in cash and then i have about 10 in commercial real estate and then the other 10 in like nft what about your house i don't know rents yeah i rent right now how much does your rent 30 000 a month yeah my theory it's a nice big house man i have a cool house and like to to my defense on the rental uh it's not that i don't want to own a home but basically to own a i live in a little over seven million dollar house and like that house would be 30 down to do a mortgage on and at the rates that i when i started renting was about four and a half percent the mortgage would have been more than i rent and that 30 down would have been around two two two three to two million and i feel like with the two and a half million dollars i could make 30 000 a month with ease yeah so i save that money i rent this house it pays for itself you know it's free to me right and um i know i don't get the benefits of write-offs right with the interest and all that stuff but if i were to buy like i considered buying like a cheap two million dollar house like in in like a nice neighborhood to kind of like chill out in cheap right cheap two million dollars well in comparison to us yeah right the cheapest house in the sky is actually the one i live in currently yeah it was seven million right because like the other ones are like 10 12 15 whatever there's only 30 some houses in that neighborhood but like the i have the cheapest one and so you know i was thinking to myself like maybe if i just take this money and i hold on to it right right now in cash i have just about two million bucks right i just bought this pagani and um so i took uh i put half down on the pagani and i financed the rest and i did the same with my koenigsegg so you know i don't want to leverage too too hard on those cars but i also don't want to put down too much money as well and so like i was thinking to myself you know like my my overall like debt load you know my pagani is 20 000 and my koenigsegg's 35 000 a month and those are the only two cars i have financed and so like i'm thinking to myself like how do i you know the rest of them are are paid for as like an investment you know the gtrs the ford gts and all those things veyron yeah the veyron um the veyron i built so it's a little bit unique but um to leverage that you know i can write off the cars like the 35 and the 20. i can write that off because i use them for youtube right so those are great write-offs for me and um i i have like a good balance you know and i know the liquidity of those things right with houses and with real estate like i have a commercial piece of land that i'm building a uh dispensary a liquor store on right it's a ridiculous location it's like it was like winning the lottery for me to get this piece of land and that's paid for no debt you know and i'm building a building with no debt so i feel like at the end of the day you know my situation is based on my geographical location in las vegas right and the ability that i have to move around with that you know and all that that ten percent of nfts and crypto and investments was just a waste you know i mean hopefully it'll turn out to do something but like i bought a board ape why how much was it 800 no yeah 800 grand i was thinking like 300. i partnered with uh wow steve aoki and another guy and so um we have a we have a board ape together i have actually three board apes i got a mutant and i have two mutants and then uh have you gone to any of the events what does it do for you haven't you ate anything it doesn't do it loses money so why do you buy it just ah [sighs] because i'm i was like all into this nft crypto thing like for a little while and i was like super stoked about it and i bought it because i thought someone was gonna pay more that's the problem with the world man what happened to these well they're worth the same amount of money in ethereum if not more i think they're actually i think my board ape was actually worth more than i paid for it we paid 200 ethereum but ethereum's four thousand dollars when i bought it so if i get 200 ethereum back i'll have one quarter of my money right so if i get 250 ethereum back i'll have made a profit on my ethereum but then the ethereum value is so low right i end up losing money so that's an interesting way to look at it yeah because if you're going to keep your money in ethereum anyway you just want that ethereum back plus some yeah regardless of its value that's it and that's a really interesting way to think about it there was a board aid that was sold recently for um 800 ethereum or 860 ethereum it was a gold one so that that tells me that people are still buying them right but that's 860 000 versus like 2.5 million it's really for the people putting money in ethereum now so now they're able to buy it cheaper unless they already have their money in ethereum and it was worth whatever anyway i mean i don't see nfts are a weird thing um there's this taxable thing there's a lot of like art there's a lot of balances around nfts and then gary vernerchuk talks about web3 and like a bunch of stuff with that i mean there's there's some future i think with nfts but at the end of the day right now i mean i'm a pretty firm believer that nft is just a jpeg on the internet yeah i don't think there's any intrinsic value the value of the nft is in verifying who's the owner and so i think what like like if you buy a gucci bag or a rolex there should be an nft with that group that verifies that you are the owner of that rolex that is yours it's the same with any dis and it to do that on a large scale like any designer item should have an nft with it yep which makes the most sense because then you can the the product itself is raised right it's gonna really help with counterfeits it would eliminate count right people would it would be just do you have a counterfeit or you don't have counterfeit but like imagine changing title for a car but that's done on the blockchain it'll be so much yeah oh my gosh it would be instant you would have to youtube videos i don't there's a way you could give licensing or ownership to someone uh that would be interesting but i don't know how each video would be treated separately so like someone could buy my video let's just say and they get the ad revenue on it's kind of like a song yeah that's actually i'm sure there's a way to do it but that's the thing right now there's so many great ideas right it's just executing them and bringing them into a mass market to actually monetize them or so difficult you know i think bordeaux did a really good job of building a brand right i mean they built a brand it's not just the end of t they built a brand around the apes and and they they've contributed so well and the reason people want board apes is and the reason why i wanted to buy a board ape is because they airdrop so much value right so the mutant serums that we got were free right and intrinsically those those turned into 30 40 000 assets um they airdropped a coin right based on your uh the value you paid or i don't know how exactly they did it but i i got my portion was twenty six thousand dollars in apecoin for free and that was when it was only twelve dollars when i first got it right it actually went to twenty something dollars so i sold it immediately because i didn't want to hold it but okay i got twenty six thousand 000 like real money for free right and so like these guys that are air dropping auxiliary items because they want the residuals right they want them traded back and forth so they get the commissions right the nft structure is so good for the creator because of commissions you know for me i would love to change my rental car business into like a membership program with an nft you know i've thought about it and it just it takes a very intelligent person it's way smarter than me to really fine-tune that business plan but i mean imagine just having a card like a like i bought one of the nut boys cards just to have it right it was like three thousand bucks it was one one uh at the time yeah and um it allows me to have access to all their events which they haven't thrown at an event from my understanding or whatever i did one did they yeah with snoop dogg okay so yeah i was i would have been able to go to that but like if i did that for my rental car business and i created like a meta card and it gave you access to see i think that the real good version of this would be car sales you have access to you're part of my dealership network right and i sell you cars based on the auction value right versus based on the retail value so you give me 3001 ethereum right you hold this card you buy it and you hold it until you want to purchase a car or you purchase many cars right and it gives you access to buy these cars from me at a 12 to 13 15 discount from retail right and save all those fees you know so i think that there's a good business plan for that and then it allows you to rent cars at cost or allows you to rent private jets at cost you know being a member in this and being very limited would make sense and it'd make those cards value grow right so if you paid 3 000 someone might pay you 5 000 because they're looking to buy mercedes and they don't have the ability to buy at an auction they'll buy my card and then get a mercedes from me and save 15 000 right so like there's like so many cool ideas to do with nfts and blockchains and cards and everything but it sucks to like market against the industry yeah you know you have like that push of where i've got a great idea but how do i combat all of the fraud that's in the industry and the notion that nfts are fake or whatever they are going on in the media right how do i say that i have a really good idea this is a good product but i'm you know i'm trying to battle that as well so it's difficult to like scale it sure you know are there any business ideas that you're not doing that you wouldn't mind sharing you might think it's a good idea so you don't have the resources for it that was a good one actually um i do think that we need to create a bring a trailer have you been on that website all the time for houses would be difficult without the without [music] the inspection they they used to have you do an inspection pre pre the listing think about this they've tried doing that in the past all of them have failed yeah but i haven't done it like bring a trailer right now it's bringing a trailer so easy because it's so simple and the commission that bring a trailer takes is very minuscule but with cars it's a lot easier to place a bid than with the house to make sure that buyers pre approved because you don't necessarily need to sell for the highest price you want to sell to the buyer is going to close of course and so if someone offers 100k but the best buyer is 90k all cash no contingencies you [snorts] need to view all the offers and select the ones based on who's most likely to close that's just that just depends on the type of house the type of buyer you want because you can open your house up and limit it right i mean if we posted a house that was 200 000 and you wanted to only accept a certain amount of offer your buyer pull would just be able to bid on that right you'd have different levels i only want cash offers and this is the price that the cash offers would take you know like it just i think this has to be different ground rules yeah it's tough because you need mls exposure on those and generally these exposures generally with the auctions you don't get the same level of interest because people are waiting for a certain date i think it was auction.com that used to do this throughout like 2010 to 2013 it was really popular now it's like those were but those were bank owned properties and they never and and a lot of those banks just had to do that because they had no other options so they just put them up there with a really low reserve but now in today's economy i just i can't see that do you think that the auction mentality is normal now right ebay was the only auction in a long time ago right now everything is sold at like a bidding price right so i do think that there's like plus just because you get the hundred thousand dollar winner doesn't mean you know that person has to close i mean you have the other two three backup people look you we don't have to think through this right now yeah i'm just saying that i think that because of the the way that the pandemic changed our mentality no one knows what you know it maybe it doesn't have to be an auction where you win it's more of like you put it up for 14 days and this is my bid and then you pick through those right it's just like a public offering system right so it's on the mls and instead of writing a contingent offer through the real estate agent not knowing like i wanted to buy a house a couple weeks ago for an investment and i i put in a specific offer and the real estate was like nah man we got way better offers than that well what if they didn't and what if it was public and what if it was like my offer was the strongest but they were trying to screw me and get me a better one well even if it is public you could always tell your friend to go and bid on a house or you know submit something yeah i mean i don't know i think you just like bring a trailer charges you for the bids which is super cool like when you make a bid you have to pay for it now if you don't win to give your money back yeah well it's the deposit yeah what is it five grand or it's they put up they put a hole up to a certain amount or it's a five percent of the price i feel like there's something there there's some way to make it to where we could eliminate the realtors opinion in a purchase i think this is a real problem i'm very against realtors because their opinion is the issue i don't think so i think it's their expertise that you really pay for the expertise yeah it's the expertise now obviously but but just the same thing like with any business there are good business people and there are terrible ones yeah i think with real estate there's 99.99 of realtors are based on their own pockets i mean the reality is 20 of the agents are really doing the majority of their business and the top five percent do they mean what are the majority what do you think of people that are buying their houses for let's say in 2021 they bought their house for 1.4 and then they posted it for 3.2 today is that a problem with the agent or probably the seller no that's a problem with the market i don't think it's the agent or the seller if that if that house is worth three million dollars they would be they would be asking three million right and hoping for the best i mean there's no there's no comps based on that right well obviously the market's going to always dictate what people get so a lot of times for my sellers they would say well i want to list it you know why why list it this price versus this other process the market will always dictate it but it's it's marketing so if you're if your home is worth 1.1 and you list it at 9.99 your home is going to sell way over based on what the market's worth if you overprice your home so the market will eventually sell what it's worth but then you're wasting all the momentum in the beginning yeah so i think a lot of its strategy there is a element to marketing that you have to just like with anything but i think the expertise is in figuring out where the balance is and then the market will dictate what the home is worth your home is not worth you know a million dollars if it sits on the market for six months it was never worth that to begin with yeah or it could be really bad marketing and you missed the mark in the beginning i just right now it seems like everybody's just shooting for the stars and they're like oh in this market i mean in this market means that the government gave everybody six trillion dollars and they spent it and they were like oh well hey this is worth this much money because i have this extra money yeah but a lot of those are based on comps and so if you if you have some one guy to buy one house to get one comp and then another one chain comp effect you're never looking at just one house especially in a place like vegas you're looking at the almost the entire city and what you could get you're probably looking at 10 to 30 different comps and taking the average of all of those based on a square footage but i just think that's not happening right now i don't know if you're looking at it's but you could always pick one-off comps if you want to like let's say a skya you could look at one sale because there's there's really nothing in there it's so funny about a skype they're not selling right but based on this one that sold but when you expand beyond a half a mile and you see wait a second everything else is selling for 20 less yeah how do we compare with that so you could always find a one-off comp and sometimes sellers will do that and that's unrealistic but overall you got to look at 20 or 30 different homes i agree it's just i don't think that's happening right half the time by the way or i would say probably 90 of the time the homes being priced high are not the agents the agents if anything have a financial incentive to price it low it's the sellers and agents are like well crap do i just not want to take the listing because if they don't take the listing someone else will of course so they're just like well i may as well take the listing at this high price the seller insists on and then maybe i could talk some sense after a few weeks they don't get an offer and we could come down to something more realistic but these are sellers who have no idea what they're doing and if anything if they have better guidance from an agent or a consultant they might not price their home that high because agents have a better pulse of what's going on and they don't want to waste three weeks or let's even say months of their time and energy and money to actually pay i mean the agents are paying their marketing they're paying absolutely doing that so it's costing some money if anything it's better for the agents to price lower but it's the sellers i mean just from just anecdotal stuff that i've seen it just seems like people have an unrealistic expectation of what their home is worth based on values six months ago and they're sticking with it and there aren't enough age agents are desperate for any listings if they're if they're you know maybe not doing as well they'll take anything so and those are the people that say well okay let's go ahead and do it but the good agents and from at least what i've seen uh will turn down listings if they don't believe they could sell it in a realistic time frame they'll just say no it makes them look bad right you know there's there's a group of agents here in town that just take everything high-end and they just post it for whatever the price they want i mean it's like astronomical numbers and it just takes one to sell right for them to get good money but at the end of the day it's like it's it's wild of how much people want i just don't think that people understand how the housing market like should work right as buyers you know it shouldn't go up one hundred and fifty percent in one year right like houses shouldn't raise that much because they shouldn't but but that doesn't mean they can't or that's of course they can't but now when you buy it at that price it's going to come down right because it can't do it again well it just depends on what your mortgage rate is i mean if you buy a home at a two and a half percent mortgage rate in your payments you know five thousand dollars a month let's just say and even if home prices go down 20 but interest rates are now six percent your payment could be the exact same yeah yeah so it just really just like wins 20 drops based on like like i don't know i i guess because i'm on the other side of the fence right i want to be a buyer right sometimes and i want to be a seller sometimes you know everybody wants to to hold both cards right you want to be the one that sells the highest amount and want to buy the cheapest house so it's it's tough i just i've lived in vegas so long that we used to be a city of value and now it's like cheaper to live in california i wouldn't gosh no not at all it's way cheaper here it's my joke but yeah i mean i've never seen the five eight nine one thousand a square foot it was like 250 300 and now every house is 500 plus yeah you know i think there's an element to that that can be sustained just because of how many people are continuing to move here sure um and i think generally the worse california gets the better vegas is going to do yeah so i want more people to come here i want them because they're going to eat at my restaurants right i mean the more overpopulated vegas gets the more dense it gets but i will say the one thing that would hurt nevada is if they get rid of the the salt cap so if they get rid of that in california they bring down taxes a little bit and they improve the areas i think we'll start to see either fewer people moving out of state or maybe you might see some of the people that left coming back yeah i actually can see that i mean right now in my my research all i see is homes that were purchased in 2020 and 2021 for sale in 2022. like there really isn't anybody selling a home that bought it before 2020. i mean it just like nobody right and some people are just buying a house and three months later putting it back for sale right like well i think a lot of that is just the the surprise and the shock of just wow how much money i just made in such a short amount of time like for the properties that i had bought in 2016 or 17. it's less of a shock because you've seen the incremental price you're used to it but when you buy a home two years ago it's like wow in two years i just made six hundred thousand dollars maybe it's a good i myself i think those are the people who are more likely to sell my theory is that everybody's like moved to vegas and realized that it wasn't a good idea to live here because the summer it's hot or this or that or they don't like the something about the city and they're moving back or they're moving somewhere else i've never seen anybody move back yeah people that i've seen sell or selling because they either have too much space they bought too big of a house um they they maybe learn the area a little bit better and they want to move somewhere else those are the people that i'm seeing selling i just i don't see how you sell it a high amount with a three percent mortgage and go into a six percent mortgage at a higher amount i don't i don't see that that's why but that's why a lot of people are also just not selling yeah like i wouldn't want to sell this house i i've been so tempted to just because of values going up but i would hate to move and i don't i have a two point eight percent mortgage on this so it did like a million dollars more at least yeah so it's like it doesn't make sense to sell sorry like i don't want to get rid of that mortgage i agree you know that's why i think people should stay yeah and then bring the prices of the houses down a little bit because the more people well if they the more they stay the less inventory there's going to be so you'd want people to leave and list their homes because if everyone was like well i'm going to give up my mortgage then there'll be way more inventory and prices would come down yeah but if people stay then they don't need a new house well if people stay if if if people stay then there's going to be less inventory so anyone who does want to move is going to have less to pick from in my own perfect scenario uh which is probably not gonna happen prices stay the same and maybe increase like let's just say the floor is now a million bucks sure that floor stays the same and maybe increases at a rate of two to four percent the year after that just basically in line with what i would consider to be a reasonable inflation yeah that's what i would like to see so we don't see a crash but we don't see prices continuing to skyrocket we just see stability do you think we're in a recession oh yeah yeah yeah i do do you think that they're going to announce something that says what we're going to respond i think it's september that they actually come out and make the the proper announce the official announcement but by then it's usually too late like right yeah it's it's it seems it's like too far gone right uh usually they they've found that once they announce we're in a recession the worst is already over um and that the the peak tends to happen six months prior to the worst of a recession mm-hmm so so right now like this could be i mean it depends the peak of the market was back in let's say november december january we're past six months of that who knows i mean it could continue to get worse it's just it's difficult to i guess dictate what's happening outside of america right like i mean you have these wars you have all this stuff going on and that's out of our control and that really drives our market down you know yeah so it's like there's so many other factors today right well i think a lot of it is the fear and higher interest rates yeah and you think they're gonna go to nine ten percent no i think they're gonna hit stop it like no i don't there's this mortgage guy i follow in los angeles he's one of like the biggest mortgage brokers and he sent an email i think two months ago saying that from his experience of like 40 years in the mortgage industry that he believes mortgage mortgage rates have already peaked and that they've already priced in all the future fed rate increases and that we're not going to see seven or eight percent mortgages he thinks honestly mortgages are gonna stay between five and six and a half percent maybe bob a little bit plus or minus you know a tad in between there i could see that becoming true well i noticed that they lowered the rate a couple mortgage rates yes mortgage rates dropped from i think six and a half to like five and a half percent something uh in a matter of a few weeks just because demand was drying up and so mortgage rates came down so it makes sense to me jerome powell raising the rates right he's raising the prime rate right so the bank is adding their fees right right so the bank is the one dictating the five six seven eight right that's where the bank's money's at so the banks see zero demand or less demand they're going to lower those rates off the prime rate the bank's going to make less money and you know interest rates it's all going to be supply and demand um so i think if we see less demand um we're gonna see mortgage rates come down so i think that's that's pretty true i think the hardest part is going to be if the fed raises the rates let's say three and a half percent four percent um when you have a savings account that's offering three and a half to four percent interest it's going to pull a lot of money away from the market like why would you invest in stocks to maybe make seven to eight percent when you could get a guaranteed three and a half to four in a savings account have access to your money not lose it uh people forget i think it was 2018 a savings account was the best investment you could have made [snorts] seriously maybe 2018 yeah 2018. that's good savings account was the because the stock market went down uh asset prices went down real estate went down i think it was like a percent or something negligible but a savings gate was the only profitable thing you could have invested in that year and that made like one and a half percent two percent bitcoin oh no that was when it was down it was like yeah yeah the savings that was the best event so sometimes people forget it's like that can be now obviously that also would have been a really good time to invest in the stock market because it was underperforming look at it now so i like so much diversity that's the that's why i like chicken so much right because you could do medium mild [laughter] really hard so much diversity so much diversity yeah right you just if like the miami is performing well just throw a restaurant miami right if overseas is performing well international expansion right i mean it's just it's not bad everywhere right that's what's good about chicken is that you could just move it around just like stocks or bonds or all these things i mean not everybody's going to do bad right in a recession it's only half or a portion of companies go down and the portion companies go up you know yeah so you just have to move your money around and that's the best way you know so i don't think i have any other businesses that i i want to do other than like i did want to start like a shoe cleaning company no one cleans shoes like there's dry cleaners there's like car washes there's like everybody but nobody actually cleans that service oh yeah he's doing houston shoe collection man you guys don't understand that's i think that's where the biggest problem my life is is this addiction to shoes that i have what okay so that's that's probably like a real issue are you into fashion yeah i mean it's ironic that the first no one knows this everybody's gonna know now but i went to fashion school for a few weeks that was my dad actually manufactured denim and so he was a a very world renowned like denim designer and he had like a bunch of manufacturing uh facilities in la and made denim he's he's 74 so he retired like when i was in high school still and so i originally wanted to be in the denim industry so you know i wanted to kind of like do that and i went to fashion school for a couple weeks and just realized l.a wasn't for me like fedem was like really cool but it just fit him yeah it wasn't my vibe yeah you know but uh so yeah anyways i i love fashion so what is it about shoes that has such an allure to people because i know shoes are really popular amongst like shoes are election launches right it's an accessory because okay so like let me put it perspective like a really cool designer t-shirt is like 500 right it's like very expensive for a t-shirt but those t-shirts have no resale value right jeans few five three to four hundred dollars for jeans no resale value shoes for some reason are like watches and they have resale value they actually can be worth more money than you pay for them like a lot of different types of shoes are like that so there's this collector-esque about it right and you can now obviously if you don't wear them they're worth way more money right but if you do wear them they're still worth money so this is why shoes are so popular now is that like i have a couple employees that flip shoes for a side hustle like it's a thing you know and um like there's a new uh supreme or virgil collab with louis vuitton coming out and i was told that some of those shoes would be worth upwards of fifty thousand dollars for a pair that's a legitimate business when you buy a pair of shoes for a few thousand dollars one to two or whatever they cost from louis vuitton and are able to sell them for fifty thousand i don't know where the buyers are for that but it's a real thing you know and so i think there's no one that caters to those guys right i mean if you have 15 20 30 50 pairs of shoes you can't throw them in the washer right and there's no service that comes to your house and like in a van and just clean them you know so i think that's a good business idea for someone i thought about doing like a small franchise where i buy like a bunch of like 20 year old kids their first job get a van get them all their equipment everything and then start like an app and then people just want to like go wash your shoes and then send a van out like a mobile car wash service but i don't know if that's very effective you would be the biggest customer there's a lot actually there's so many people like that i would definitely be a huge customer um right now um i um i have a guy that that basically does other things for me kind of like a handyman type guy and he he he does that particular job for me wow yeah so i give him 10 12 a shoe depending on which one it is but i'm gonna have 250 pairs 300 pairs of shoes so it adds up for him over the month you know gosh yeah i just have a question like this is random because it could go one way or the other houston how much did your shirt cost you the t-shirt yeah it just looks like a black 12 bucks 13 bucks yeah i mean that's what i don't okay you never try not to wear it like i love really nice like suit coats like sport coats like versace and really high-end designer things but i don't want to like this t-shirt is just such a bad investment to buy a 500 version of this yeah right because this is a brand i don't need a brand to tell me that i'm like cool or something right but i do like the quality and like a really nice suit jacket like what i wear to my grand openings like those versace jackets have gold in them and they're very unique and they're very special and and they kind of accentuate my personality right but like my jeans are 110 you know they're guests or whatever they cost like they're normal but like the shoes is like a watch right where it's like an accessory and you know every time i come here i wear a different cool pair of shoes and they're all so fancy yeah they all got spikes on them yeah so how much does your entire outfit cost well you're going to count the watch well if you count the watch it costs more than a house but um i don't know i've got uh like probably 130 worth of clothes on and then a i don't know essentially a 440 thousand dollar watch it kind of watches that it's uh [laughter] it's a rm um yeah i mean this is a carbon once it's not not the most expensive uh there's rms that cost millions how much did you pay for it this watch i paid uh 190 something one so it's like this watch i believe was a sticker price of like i think it was 120 something and i paid like 60 [clears throat] over sticker i'm on the waitlist for like a good new one but they try to give us like rm gave me a allocation for a watch that was like kind of like the dinky one and it doesn't go up in value so i'd rather pay 60 over this watch was purchased before the big boom now here's the thing why because you're selling off some cars why wouldn't you sell off the watch i only have one i used to have 13 watches yes okay so i've kept one watch that i just wear every day and i kept my first watch ever bought so that one i don't wear it's just it's a hublot it's like 30 grand and i financed it on my credit card i was like super stoked and you know it was like a big moment for me to buy like a really nice watch but i used to have a whole bunch of watches and i just have one now so whenever i like go out i i don't know i'd like to have two one that's not just like one black one and like one gold one maybe that's like more luxurious but i just wear this watch every day you know and i mean it's a lot it's worth a lot of value now but like i couldn't replace it and i feel like i i just need one watch and i think that's the key in any any personal success you could have a billion dollars and you're still gonna wear the same clothes right i'm gonna be the same way right i like to be slightly pretentious with the cars and the shoes and the watches but i'm like overkill yeah where i'm like shopping at versace every weekend with 40 000 right where i'm trying to be someone i'm not i'm trying to be a big guy i don't party i don't drink so like i never want to be surrounded by that level of like you know insecurity that's what i call right and so i don't know i think that's the key to success in this city into any big city is just be yourself you know cool i think that's good that's a good point too i ended on yourself it's like breakfast time yeah i know almost lunch exactly [laughter] all right guys so thank you so much for watching the other thing you could do besides be yourself is get a free stock down below in the description subscribe to sign up for public.com it's gonna be down below you see the coach graham you may as well do that it's worth all the way up to a your messages okay so make sure to message us there on time so much alex for producing this podcast man you're doing a great job make sure to follow me on instagram and thank you guys so much for watching and until next time you